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World development report 2014 : risk and opportunity - managing risk for development
 
Author:Loayza, Norman; Otker-Robe, Inci; Country:World;
Date Stored:2013/10/08Document Date:2013/10/01
Document Type:World Development ReportISBN:978-0-8213-9964-4
Language:EnglishMajor Sector:Education; Health and other social services; Finance; Industry and trade
Rel. Proj ID:1W-Wdr 2014 Risk, Uncertainty, And Crisis -- -- P131303;Region:The World Region
Report Number:81699Sub Sectors:Other social services; General education sector; General finance sector; General industry and trade sector
SubTopics:Transport Economics Policy & Planning; Disaster Management; Insurance & Risk Mitigation; Natural Disasters; Anti-Money LaunderingTF No/Name:TF012954-KCP II - WDR 2014 Managing Risk for Development
Volume No:1 of 1  

Summary: In recent years, the world has suffered a multitude of crises. Financial and economic turmoil have disrupted the world economy through loss of income, jobs, and social stability. Intense natural disasters have devastated entire communities from Haiti to Japan, leaving a trail of fatalities and economic losses in their wake. Concerns about global warming have grown, as have fears about the spread of deadly contagious diseases. The inability to manage risk properly leads to crises and missed opportunities. This poses significant obstacles to attaining the World Bank Group's two main goals: ending extreme poverty by the year 2030 and boosting shared prosperity of the bottom 40 percent of the population in developing countries. Managing risk effectively is, therefore, absolutely central to the World Bank's mission. The World Development Report (WDR) 2014 demonstrates that effective risk management can be a powerful instrument for development, it can save lives, avert economic shocks, and help people build better, more secure futures. This report calls for individuals and institutions to move from being 'crisis fighters' to becoming 'proactive and systematic risk managers.' There is substantial evidence that recognizing and preparing for risk can pay off abundantly. For instance, many developing countries displayed resilience in the face of the recent global financial crisis because they had previously reformed their macroeconomic, financial, and social policies.

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