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Big data - data that is vast at an unprecedented scale, comes from a range of new and old sources, is extremely high in frequency, and which can now be analyzed and combined in very sophisticated ways - has the potential to augment the efforts of institutions like the World Bank Group working to deliver high-impact development solutions to countries around the world.Within the Bank Group’s Trade & Competitiveness Global Practice, we believe that investigating the potential of big data for development is a worthwhile pursuit as we support countries to boost the volume and value of trade, enhance their investment climates, improve competitiveness in sectors, and foster innovation and entrepreneurship.Big data solutions have the potential to accelerate the work of our teams by deriving timely, accurate, and actionable insights from alternative data sources in order to close data gaps and inform policymaking. For example, pilot projects underway in the Trade and Competitiveness practice are exploring the use of data science techniques to harness publicly available government and commercial data to aid competition authorities in detecting cartels and other anti-competitive practices. We are also mining Internet data to measure innovative economic activity in cities, so agencies can make better informed policy decisions and, we are collecting regulatory data to classify and assess the impacts of non-tariff measures on economies and their competitiveness.
We can safely say that Milton Friedman’s words, that the social responsibility of business is to increase its profits, no longer apply today (Friedman 1970). A change in attitude has occurred since the 1970s with regard to the role of business,...
Criminal activities that affect the environment and natural resources are on the increase and pose an increasingly serious threat to development. Data and analyses reviewed by the World Bank’s Community of Practice on ENRLE begin to show the ma...
This paper is motivated by the emphasis on secure property rights as a determinant of economic development in recent literature. The authors use village and household level information from about 800 villages throughout China to explore whether legal...
Laws evolve as societies do. To be relevant and effective, laws have to keep pace with global changes and with changes within the particular societies to which they apply. Investment laws are no exception. This “Handbook on Investment Law,&rdqu...
This report by the foreign law research staff of the Law Library of Congress’s Global Legal Research Directorate includes surveys of thirteen major democratic foreign jurisdictions on laws and policies addressing foreign involvement in election...
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