World Bank

About: World Bank is a other organization based out in Washington D.C., District of Columbia, United States. It is known for research contribution in the topics: Population & Poverty. The organization has 7813 authors who have published 21594 publications receiving 1198361 citations. The organization is also known as: World Bank, WB & The World Bank.

A New Database on the Structure and Development of the Financial Sector

Abstract: This article introduces a new database of indicators of financial structure and financial development across countries and over time. The database is unique in that it combines a wide variety of indicators that measure the size, activity, and efficiency of financial intermediaries and markets. It improves on previous efforts by presenting data on the public share of commercial banks, introducing indicators of the size and activity of nonbank financial institutions, and constructing measures of the size of bond and primary equity markets. This article introduces a new database, the first to provide comprehensive measures of the development, structure, and performance of the financial sector. This database is the first to define and construct indicators of the size and activity of nonbank financial intermediaries, such as insurance companies, pension funds, and non-deposit money banks. It is also the first to include indicators of the size of primary equity markets and primary and secondary bond markets. In constructing the database, authors carefully deflate measures and match stock and flow variables.

The Regulation of Labor

Abstract: Author(s): Botero, Juan; Djankov, Simeon; La Porta, Rafael; Lopez-de-Silanes, Florencio; Shleifer, Andrei | Abstract: We investigate the regulation of labor markets through employment, collective relations, and social security laws in 85 countries. We find that the political power of the left is associated with more stringent labor regulations and more generous social security systems, and that socialist, French and Scandinavian legal origin countries have sharply higher levels of labor regulation than do common law countries. However, the effects of legal origins are larger, and explain more of the variation in regulations, than those of politics. Heavier regulation of labor is associated with lower labor force participation and higher unemployment, especially of the young. These results are most naturally consistent with legal theories, according to which countries have pervasive regulaory styles inherited from the transplantation of legal systems.

Future flood losses in major coastal cities

Abstract: Flood losses in coastal cities will rise due to increasing populations and assets. Research now quantifies average losses in the 136 largest coastal cities. Estimated at approximately US$6 billion in 2005, average annual losses could increase to US$52 billion by 2050 on the basis of projected socio-economic change alone. If climate change and subsidence are also considered, current protection will need to be upgraded to avoid unacceptable losses. Flood exposure is increasing in coastal cities1,2 owing to growing populations and assets, the changing climate3, and subsidence4,5,6. Here we provide a quantification of present and future flood losses in the 136 largest coastal cities. Using a new database of urban protection and different assumptions on adaptation, we account for existing and future flood defences. Average global flood losses in 2005 are estimated to be approximately US$6 billion per year, increasing to US$52 billion by 2050 with projected socio-economic change alone. With climate change and subsidence, present protection will need to be upgraded to avoid unacceptable losses of US$1 trillion or more per year. Even if adaptation investments maintain constant flood probability, subsidence and sea-level rise will increase global flood losses to US$60–63 billion per year in 2050. To maintain present flood risk, adaptation will need to reduce flood probabilities below present values. In this case, the magnitude of losses when floods do occur would increase, often by more than 50%, making it critical to also prepare for larger disasters than we experience today. The analysis identifies the cities that seem most vulnerable to these trends, that is, where the largest increase in losses can be expected.