Demystifying the Arctic. Authored by the Members of the World Economic Forum Global Agenda Council on the Arctic, Davos-Klosters, Switzerland 22-25 January 2014

To this day, the general public thinks of the Arctic in visions of unspoiled ocean and landscapes, expansive ice, clean water, unique species and aboriginal cultures – essentially, it reminds everyone that a true wilderness still exists. In addition to important natural resources, the Arctic provides inspiration by maintaining its irreplaceable cultures, a pristine environment, healthy ecosystem and ground-breaking collaborative governance models. As such, it is a global asset that should be maintained

The Price of Failure:

Summaries This article examines the development of monetary policy in Russia since prices were liberalised in 1992. It traces events from the monetary overhang which preceded that step, through sharp inflation and the monetary contraction with which stability was restored, to the present crisis of illiquidity and demonetisation. The article argues that, far from easing the way to flexible, market?based policies, this chain of events has left policymakers as severely boxed in as at the start. While any reform strategy was fraught with danger, it would have been better to take a less cavalier attitude to prices and concentrate from the beginning on building the financial and legal institutions required for macro?economic policy to work

Insight report

Bibliografia: p. 16Disponível online em: http://dx.doi.org/10.18235/0001541This work is licensed under a Creative Commons IGO 3.0 Attribution-NonCommercial- NoDerivatives (CC-IGO BY-NC-ND 3.0 IGO) license (https://creativecommons.org/licenses/by-nc-nd/3.0/igo/legalcode) and may be reproduced with attribution to the Co-publishers and for any non-commercial purpose. No derivative work is allowed. Any dispute related to the use of the works of the Co-publishers that cannot be settled amicably shall be submitted to arbitration pursuant to the UNCITRAL rules. The use of the Co-publishers’ names for any purpose other than for attribution and the use of the Co-publishers' logos shall be subject to a separate written license agreement between the Co-publishers and the user, and is not authorized as part of this CCIGO license. Note that link provided above includes additional terms and conditions of the license.This report presents a series of recommendations intended to address some of the main challenges facing Brazil's infrastructure sector as it transitions to a new financing model in which the National Bank for Economic and Social Development (BNDES) will be the catalyst for domestic and foreign private funding

Distributional impact of taxes and social transfers in Russia over the downturn

Low oil prices and the recession in Russia which started in 2014 are increasing pressures for fiscal consolidation, after more than a decade of prosperity. This paper assesses the distributional impact of the main tax and social spending programs in Russia in 2014 by applying a state-of-the-art incidence analysis. Overall, the Russian welfare state achieves a moderate reduction in inequality through tax-benefit policies by international standards. Most redistribution occurs through pensions. Major limits on the redistributive effect of tax-benefit policy include the large share of tax revenues that come from (regressive) indirect taxes, the neutral impact of personal income taxes and the low share of spending that goes on social assistance targeted to low-income groups. Tax-benefit policy also has an important impact on the age distribution of income, as households of working-age people (with and without children) subsidize pensioner households

Monitoring of National Drug Policy (NDP) and its standardized indicators; conformity to decisions of the national drug selecting committee in Iran

BACKGROUND: Pharmaceuticals have made an important contribution to global reductions in morbidity and mortality. To help save lives and improve health, it is important to be sure about equity to access to drugs, drug efficacy, quality and safety, and rational use of drugs, which are standardized National Drug Policy (NDP) objectives. NDP's indicators are useful to evaluate the pharmaceutical system performance in a country. Iran has adapted a National Drug List (NDL). Since management of drug supply in Iran takes place only for drugs that have been selected in NDL and this list is selected by the member of Iran Drug Selecting Committee (IDSC), thus evaluation of IDSC's decision making during last 5 years is an appropriate way to evaluate the implementation of drug supply system in the country. METHODS: To identify strengths and weaknesses of pharmaceutical policy formation and implementation in Iran, four standard questionnaires of the World Health Organization (WHO) were used. To assess the agreement between decisions of IDSC and standardized NDP indicators in the last 5 years (1998–2002), a weighted questionnaire by nominal group technique based on the questions that should be answered during discussion about one drug in IDSC was designed and used. RESULTS: There is a totally generics based NDP with 95% local production, that provides affordable access to drugs. The system, structures, and mechanisms were in place; however, they did not function properly in some topics. Assessment of 59 dossiers of approved drugs for adding to NDL during last 5 years showed that IDSC's members pay more attention to efficacy, safety, and rationality in use rather than accessibility and affordability. CONCLUSION: Revision of drug system in term of implementation of the processes to achieve NDP's objectives is necessary to save public health. Clarification of NDP's objectives and their impact for IDSC's members will result in improvement of the equity in access to pharmaceuticals

Aid and Poverty

SUMMARY The volume of aid received by the less developed countries, with some exceptions, is small in relation to the existing scale of poverty in those countries. Aid makes a significant but incremental contribution to available national resources. What aid can or cannot do for the poor has to be viewed and assessed within the context of overall national policies and priorities towards poverty elimination. In that context, it can be said that aid has made a smaller impact on poverty than one would expect. The reasons for this are varied and complex, and point to shortcomings in both donor and recipient policies. The aid experience, however, is by no means wholly negative. Particular forms of aid can make a positive contribution to a reduction in poverty, where national policies are directed towards the same objectives. More important for the future, perhaps, are the lessons that can be learnt from the aid experience about the do's and don'ts of aid policy. SOMMAIRE L'aide et la pauvreté Le volume de l'aide reçu par les pays moins développés, avec quelques exceptions, est petit en rapport avec la pauvreté dans ces pays. L'aide contribue substantiellement mais d'une manière incrémentale aux resources nationales disponibles de ces pays. Le potentiel de l'aide doit être évalué dans le contexte globale des politiques nationales et des priorités envers l'élimination de la pauvreté. Dans ce contexte, on peut dire que l'influence de l'aide sur la pauvreté a été plus petite de ce qu'on aurait prévu. Les raisons pour ceci sont diverses et complexes, et soulignent des défauts dans les politiques des donneurs, aussi bien que dans celles des pays recevants. Cependant, l'expérience de l'aide n'est d'aucune manière entièrement négative. Certaines formes d'aide peuvent réduire la pauvreté, lá où les politiques nationales sont formulées dans le même but. Plus important pour l'avenir, peut?être, sont les leçons de l'expérience de l'aide en ce qui concerne ce qu'on peut faire, et ce qu'on ne devrait pas faire en matière de politique de l'aide. RESUMEN Ayuda y Pobreza Con algunas excepciones, el volumen de la ayuda recibida por los países menos desarrollados es pequeño en relación a la escala de pobreza existente en esos países. La ayuda implica una contribución significativa y adicional a los recursos nacionales existentes. Lo que la ayuda puede y no puede hacer en favor de los pobres, debe considerarse y evaluarse en el contexto del conjunto de las políticas y prioridades nacionales de erradicación de la pobreza. En este contexto puede decirse que el impacto de la ayuda sobre la pobreza, es menor del que podría esperarse. Las razones son variadas y complejas y se refieren a deficiencias en las políticas de donantes y receptores. No obstante, la experiencia en ayuda está lejos de ser totalmente negativa. Determinadas formas de ayuda pueden realizar una contribución positiva en la reducción de la pobreza, en los casos en que las políticas nacionales están dirigidas a los mismos objetivos. Probablemente lo más importante para el futuro, son las lecciones que la experiencia en ayuda proporciona acerca de lo que debería y no debería involucrar la política de ayuda

Ratings and rankings: Voodoo or Science?

Composite indicators aggregate a set of variables using weights which are understood to reflect the variables' importance in the index. In this paper we propose to measure the importance of a given variable within existing composite indicators via Karl Pearson's `correlation ratio'; we call this measure `main effect'. Because socio-economic variables are heteroskedastic and correlated, (relative) nominal weights are hardly ever found to match (relative) main effects; we propose to summarize their discrepancy with a divergence measure. We further discuss to what extent the mapping from nominal weights to main effects can be inverted. This analysis is applied to five composite indicators, including the Human Development Index and two popular league tables of university performance. It is found that in many cases the declared importance of single indicators and their main effect are very different, and that the data correlation structure often prevents developers from obtaining the stated importance, even when modifying the nominal weights in the set of nonnegative numbers with unit sum.Comment: 28 pages, 7 figure