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WDR 2014

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facts: risk and risk management

Despite some progress, many people remain vulnerable

More than 20 percent of people in developing countries live on less than $1.25 a day, and nearly 75 percent on less than $4.00

70 percent of people in developing countries do not use formal financial tools

Over 70 percent of the labor force in South Asia and Sub-Saharan Africa are self-employed and do not benefit from risk-sharing within firms

People living in fragile and conflict-affected countries made up 15 percent of the world population, and one-third of people living in extreme poverty in 2010

When risk is mismanaged, crises ensue

More people die from drought in Africa than from any other natural hazard, whereas virtually no one has died from drought in developed countries in the past four decades

The mortality rate from illness and injury for children under age five is almost 20 times higher in low-income countries than in high-income countries

147 banking crises struck 116 countries from 1970 to 2011: the average cumulative loss of output during the first three years of crises in emerging markets was 26 percent

During 2011–12, the famine in Somalia claimed 258,000 lives, despite 11 months of repeated warnings; opportunities for early intervention were missed by the donor community to avoid political and security risks

Effective risk management can improve resilience to negative shocks and the ability to take advantage of positive shocks

Between 1990 and 2010, the share of people in developing countries with access to improved sanitation increased from 36 to 56 percent

The immunization rate for measles doubled between 1990 and 2010

Infant and maternal mortality fell by more than 40 percent between 1990 and 2010

Farmers in Ghana and India—among other countries—who have rainfall insurance have increased their investments in fertilizer, seeds, and other inputs

Whereas a decade ago most developing countries suffered from a procyclical bias, now more than one-third of them conduct recession-reducing countercyclical macroeconomic policies

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