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World Development Report 2014
[Informe sobre el desarrollo mundial 2014, Riesgo y oportunidad : la administración del riesgo como instrumento de desarrollo - Panorama general]


  • World Bank


The past 25 years have witnessed unprecedented changes around the world—many of them for the better. Across the continents, many countries have embarked on a path of international integration, economic reform, technological modernization, and democratic participation. As a result, economies that had been stagnant for decades are growing, people whose families had suffered deprivation for generations are escaping poverty, and hundreds of millions are enjoying the benefits of improved living standards and scientific and cultural sharing across nations. As the world changes, a host of opportunities arise constantly. With them, however, appear old and new risks, from the possibility of job loss and disease to the potential for social unrest and environmental damage. If ignored, these risks can turn into crises that reverse hard-won gains and endanger the social and economic reforms that produced these gains. The World Development Report 2014 (WDR 2014), Risk and Opportunity: Managing Risk for Development, contends that the solution is not to reject change in order to avoid risk but to prepare for the opportunities and risks that change entails. Managing risks responsibly and effectively has the potential to bring about security and a means of progress for people in developing countries and beyond. Although individuals’ own efforts, initiative, and responsibility are essential for managing risk, their success will be limited without a supportive social environment—especially when risks are large or systemic in nature. The WDR 2014 argues that people can successfully confront risks that are beyond their means by sharing their risk management with others. This can be done through naturally occurring social and economic systems that enable people to overcome the obstacles that individuals and groups face, including lack of resources and information, cognitive and behavioral failures, missing markets and public goods, and social externalities and exclusion. These systems—from the household and the community to the state and the international community—have the potential to support people’s risk management in different yet complementary ways. The Report focuses on some of the most pressing questions policy makers are asking. What role should the state take in helping people manage risks? When should this role consist of direct interventions, and when should it consist of providing an enabling environment? How can governments improve their own risk management, and what happens when they fail or lack capacity, as in many fragile and conflict-affected states? Through what mechanisms can risk management be mainstreamed into the development agenda? And how can collective action failures to manage systemic risks be addressed, especially those with irreversible consequences? The WDR 2014 provides policy makers with insights and recommendations to address these difficult questions. It should serve to guide the dialogue, operations, and contributions from key development actors—from civil society and national governments to the donor community and international development organizations.

Suggested Citation

  • World Bank, 2013. "World Development Report 2014
    [Informe sobre el desarrollo mundial 2014, Riesgo y oportunidad : la administración del riesgo como instrumento de desarrollo - Panorama general]
    ," World Bank Publications, The World Bank, number 16092, March.
  • Handle: RePEc:wbk:wbpubs:16092

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    References listed on IDEAS

    1. Frankel, Jeffrey A. & Vegh, Carlos A. & Vuletin, Guillermo, 2013. "On graduation from fiscal procyclicality," Journal of Development Economics, Elsevier, vol. 100(1), pages 32-47.
    2. Alberto Alesina & Filipe R. Campante & Guido Tabellini, 2008. "Why is Fiscal Policy Often Procyclical?," Journal of the European Economic Association, MIT Press, vol. 6(5), pages 1006-1036, September.
    3. Lars Calmfors & Simon Wren‐Lewis, 2011. "What should fiscal councils do?," Economic Policy, CEPR;CES;MSH, vol. 26(68), pages 649-695, October.
    4. Jeffrey Frankel, 2011. "Over-optimism in forecasts by official budget agencies and its implications," Oxford Review of Economic Policy, Oxford University Press, vol. 27(4), pages 536-562.
    5. repec:hrv:faseco:34729976 is not listed on IDEAS
    6. Xavier Debrun & David Hauner & Manmohan S. Kumar, 2009. "Independent Fiscal Agencies," Journal of Economic Surveys, Wiley Blackwell, vol. 23(1), pages 44-81, February.
    7. Sebastian Barnes & Jarmila Botev & Lukasz Rawdanowicz & Jan Stráský, 2016. "Europe’s New Fiscal Rules," Review of Economics and Institutions, Università di Perugia, vol. 7(1).
    8. Robert Holzmann & David A. Robalino & Noriyuki Takayama, 2009. "Closing the Coverage Gap : The Role of Social Pensions and Other Retirement Income Transfers," World Bank Publications, The World Bank, number 2651.
    9. Goldin, Ian, 2013. "Divided Nations: Why global governance is failing, and what we can do about it," OUP Catalogue, Oxford University Press, number 9780199693900.
    10. Richard Hinz & Robert Holzmann & David Tuesta & Noriyuki Takayama, 2013. "Matching Contributions for Pensions : A Review of International Experience," World Bank Publications, The World Bank, number 11968, March.
    11. Coen Teulings & Frits Bos, 2010. "CPB and Dutch fiscal policy in view of the financial crisis and ageing," CPB Document 218, CPB Netherlands Bureau for Economic Policy Analysis.
    Full references (including those not matched with items on IDEAS)


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. Gary S. Fields, 2014. "Self-employment and poverty in developing countries: Helping the self-employed earn more for the work they do," IZA World of Labor, Institute for the Study of Labor (IZA), pages 1-60, May.
    2. Klonner, Stefan & Oldiges , Christian, 2014. "Safety Net for India's Poor or Waste of Public Funds? Poverty and Welfare in the Wake of the World's Largest Job Guarantee Program," Working Papers 0564, University of Heidelberg, Department of Economics.
    3. Trapp Katharina, 2015. "Measuring the Labour Income Share of Developing Countries: Learning From Social Accounting Matrices," WIDER Working Paper Series 041, World Institute for Development Economic Research (UNU-WIDER).
    4. Ning An & Paul J. Thomassin, 2016. "The Economic Impact of Climate Change on Cash Crop Farms in Québec and Ontario," CIRANO Working Papers 2016s-31, CIRANO.
    5. Yaya Koloma & Zaka Ratsimalahelo, 2015. "Jeunes, accès au microcrédit et performance des microentreprises: une évidence au Mali," Working Papers hal-01377920, HAL.
    6. Prema-chandra Athukorala & Kunal Sen, 2015. "Industrialisation, Employment and Poverty," Departmental Working Papers 2015-11, The Australian National University, Arndt-Corden Department of Economics.
    7. repec:bpj:ajlecn:v:8:y:2017:i:1:p:36:n:1 is not listed on IDEAS
    8. Addison, Tony & Singhal, Saurabh & Tarp, Finn, 2013. "Aid to Africa: The Changing Context," WIDER Working Paper Series 144, World Institute for Development Economic Research (UNU-WIDER).
    9. Sawada, Yasuyuki & Takasaki, Yoshito, 2017. "Natural Disaster, Poverty, and Development: An Introduction," World Development, Elsevier, vol. 94(C), pages 2-15.
    10. Sen Gupta, Abhijit & More, Vishal & Gupta, Kanupriya, 2016. "Structural Change and Poverty Reduction at Sub-State Levels in India," MPRA Paper 72740, University Library of Munich, Germany.
    11. Taofik Mohammed Ibrahim, 2015. "The causal link between Trade Openness and Government Size: Evidence from the five largest economies in Africa," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Eastern Macedonia and Thrace Institute of Technology (EMATTECH), Kavala, Greece, vol. 8(1), pages 121-136, August.
    12. Bobba, Matteo & Flabbi, Luca & Levy Algazi, Santiago, 2017. "Labor Market Search, Informality and Schooling Investments," IZA Discussion Papers 11170, Institute for the Study of Labor (IZA).
    13. Lohmann, Steffen & Lechtenfeld, Tobias, 2015. "The Effect of Drought on Health Outcomes and Health Expenditures in Rural Vietnam," World Development, Elsevier, vol. 72(C), pages 432-448.
    14. Mariya Aleksynska & Friederike Eberlein, 2016. "Coverage of employment protection legislation," IZA Journal of Labor Policy, Springer;Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 5(1), pages 1-20, December.
    15. Chen, Joyce J. & Kosec, Katrina & Mueller, Valerie, 2015. "Temporary and permanent migrant selection: Theory and evidence of ability-search cost dynamics," IFPRI discussion papers 1496, International Food Policy Research Institute (IFPRI).
    16. Nanak Kakwani & Hyun H. Son, 2015. "Income inequality and social well-being," Working Papers 380, ECINEQ, Society for the Study of Economic Inequality.
    17. Nasreen, Samia & Anwar, Sofia, 2014. "Causal relationship between trade openness, economic growth and energy consumption: A panel data analysis of Asian countries," Energy Policy, Elsevier, vol. 69(C), pages 82-91.
    18. Scot,Thiago & Rodella,Aude-Sophie, 2016. "Sifting through the Data : labor markets in Haiti through a turbulent decade (2001-2012)," Policy Research Working Paper Series 7562, The World Bank.
    19. Hadi Esfahani & Roksana Bahramitash & Bin Lin, 2016. "Gender and Labour Allocation: the Role of Institutions and Policies in the Allocation of Female and Male Labor," Working Papers 998, Economic Research Forum, revised May 2016.
    20. Gordon Betcherman, 2014. "Designing labor market regulations in developing countries," IZA World of Labor, Institute for the Study of Labor (IZA), pages 1-57, May.
    21. repec:spr:soinre:v:134:y:2017:i:2:d:10.1007_s11205-016-1433-z is not listed on IDEAS
    22. repec:phd:dpaper:dp_2014-34 is not listed on IDEAS
    23. Gill,Indermit S. & Revenga,Ana L. & Zeballos,Christian, 2016. "Grow, invest, insure : a game plan to end extreme poverty by 2030," Policy Research Working Paper Series 7892, The World Bank.
    24. Jessica Goldberg, 2016. "Kwacha Gonna Do? Experimental Evidence about Labor Supply in Rural Malawi," American Economic Journal: Applied Economics, American Economic Association, vol. 8(1), pages 129-149, January.
    25. Juliana Martínez Franzoni & Diego Sánchez-Ancochea, 2015. "Public social services and income inequality," Chapters,in: Labour Markets, Institutions and Inequality, chapter 11, pages 287-312 Edward Elgar Publishing.


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