Investment Rating - The report does not provide a specific investment rating for the childcare industry Core Insights - Quality childcare is essential for ensuring children's safety, promoting holistic development, and encouraging parental uptake of services [5][12] - The quality of childcare services significantly impacts parents' choices and economic activities, with higher quality leading to increased trust and usage [12] - A robust quality assurance system is necessary, including feasible standards, regular monitoring, and effective data use to support quality improvements [5][61] Summary by Sections I. Introduction: Importance of Quality Childcare - Quality childcare is crucial for child safety, development, and parental engagement in economic activities [7][12] II. Essential Elements of Quality in Childcare Settings - Quality can be achieved through key principles that are adaptable to various contexts, focusing on both structural and process quality [14][15] - Structural quality includes safe physical environments, adequate adult-to-child ratios, and trained practitioners [16][17] - Process quality emphasizes age-appropriate activities, responsive caregiving, and regular interactions with parents [20][30] III. Key Considerations When Visiting a Childcare Setting - Safety and structural suitability of the environment should be assessed [35] - Basic needs for food, water, hygiene, and sleep must be met [35] - Practitioners should demonstrate warmth and engage in age-appropriate communication [35] - Availability of materials for hands-on learning and play is essential [35] - Activities should facilitate interaction and movement among children [35] IV. Essential System Elements for Quality Improvement - Governments should implement quality assurance systems with realistic standards and clear registration processes [59][61] - Monitoring mechanisms should include site visits and community feedback [59][66] - Sufficient financing is necessary to support quality childcare and reduce financial burdens on families [63][66]

Investment Rating - The report indicates a positive investment outlook for infrastructure, particularly in developed markets, with a notable rebound in greenfield investments and a projected recovery in secondary market activities as interest rates decline [9][11]. Core Insights - Global private investment in infrastructure projects increased by 10 percent in 2023, primarily driven by developed markets, while low- and middle-income countries (LMICs) saw a slight decline [9][10]. - Infrastructure fundraising faced significant challenges in 2023, with total capital raised dropping to $94.9 billion, nearly half of 2022 levels, but is expected to stabilize in 2024 [18][19]. - Infrastructure debt remains attractive to investors due to its reliable cash flows and historically lower default rates compared to non-financial corporate debt, with a debt-to-equity ratio of 77 percent in 2023 [25][84]. - Renewable energy and transport sectors dominate infrastructure investment, accounting for two-thirds of total activity, with a significant surge in private investment in hydrogen projects [31][36]. - The report highlights a growing divergence in investment levels between high-income countries (HICs) and LMICs, with HICs experiencing a 15 percent increase in infrastructure investment in primary markets [45][46]. Summary by Sections Greenfield Investment - Greenfield investment in developed markets continues to rebound, while growth in emerging markets lags behind, with infrastructure delivery costs rising significantly [9][10]. Fundraising Challenges - Rising interest rates have tempered return expectations and led to a significant decline in infrastructure fundraising, with total capital raised dropping to $94.9 billion in 2023 [17][18]. Resilience Amid Uncertainty - Despite macroeconomic challenges, private infrastructure financing has maintained a stable debt-to-equity ratio, with infrastructure debt showing lower default rates and higher recovery rates [25][84]. Policy and Sector Priorities - Policy changes are influencing investor strategies, with renewable energy and transport leading investment, while digital infrastructure is gaining traction [31][32]. Investment Gaps - There is a widening investment gap between HICs and LMICs, with HICs representing a larger share of private investment in infrastructure [45][46]. Regulatory Frameworks - Strengthening regulatory frameworks is essential for attracting private capital in emerging markets, with improvements potentially increasing investment by approximately $500 million [54][56]. Role of Development Institutions - Development institutions play a critical role in mobilizing private capital in LMICs, providing co-financing for 30 percent of total private investment [61][62]. Blended Finance Solutions - Blended finance and guarantees are effective tools for bridging investment gaps, with evidence showing that projects backed by guarantees have higher private capital mobilization [65][67]. Local Currency Financing - Local currency financing for private investment in infrastructure projects in LMICs decreased to 37 percent in 2023, highlighting the need for strategies to protect against foreign exchange volatility [72][73]. Capital Market Opportunities - There is a growing shift towards leveraging domestic and international capital markets to mobilize long-term funding for infrastructure projects, particularly through green and sustainability-linked bonds [78][82]. Conclusion - The report concludes that while private investment in infrastructure has faced volatility, it remains resilient, with a focus on low-risk strategies and the importance of regulatory and policy interventions to close investment gaps [83][85].

Investment Rating - The report does not explicitly provide an investment rating for the industry discussed Core Insights - The adjusted headcount ratio used in multidimensional poverty measures creates perverse incentives that prioritize targeting the least intensely poor individuals rather than the most intensely poor individuals [2][8][20] - A proposed quick-fix solution modifies the adjusted headcount ratio to eliminate these perverse incentives while maintaining the identification of the poor [8][26][34] - The new index, referred to as M'0, preserves the identification method but changes the poverty contribution of poor individuals to their multidimensional poverty gap, thus avoiding the discontinuous "jump" in poverty contributions [28][31][34] Summary by Sections Introduction - Prioritarianism suggests that social protection policies should prioritize the worst-off individuals, and the adjusted headcount ratio fails to do so [7][20] Basic Framework - The report introduces a framework for understanding multidimensional poverty measures, including the adjusted headcount ratio and its implications [15][16] Perverse Incentives - The adjusted headcount ratio and the headcount ratio both exhibit perverse incentives that can mislead policymakers [20][22] - The report illustrates how these incentives can lead to suboptimal policy decisions that do not align with prioritarian principles [21][24] Quick Fix: Tweaking M0 - The proposed solution involves changing the poverty contribution function to reflect the multidimensional poverty gap, thus eliminating perverse incentives [26][28][34] - The new index M'0 maintains the same properties as M0 except for Dimensional Breakdown, which is argued to be less critical for policymaking [35][51] Limitations of Dimensional Breakdown - The report discusses two significant limitations of Dimensional Breakdown, emphasizing that it may mislead policymakers regarding the sources of progress and optimal policy choices [35][50]

Investment Rating - The report does not explicitly provide an investment rating for the industry under study Core Insights - The study investigates how intrahousehold dynamics affect the investment decisions of female entrepreneurs in Ghana, revealing that unconditional grants have limited impact on business performance, while savings mechanisms show significant positive effects [2][10][16] Summary by Sections Introduction - Female entrepreneurship is on the rise globally, yet significant gender gaps in business performance persist, with cash grants showing limited effectiveness in enhancing performance [6][7] Methodology - A randomized controlled trial was conducted with 3,096 couples in Accra, Ghana, assessing four types of support mechanisms for women-owned businesses [10][18][22] Findings - Unconditional grants provided to female entrepreneurs or their spouses did not improve business performance, while conditional grants linked to training and savings goals led to increased sales and profits [11][15][52] - The savings intervention resulted in a 15% increase in sales and a 10% increase in profits, particularly for women facing high expropriation pressure [15][16][69] Mechanisms - The study highlights the role of expropriation pressures within households, where women often face demands to share their income, impacting their investment decisions [13][62] - The savings treatment was effective in mitigating these pressures, allowing women to maintain greater control over their resources [68][69] Conclusion - The findings underscore the importance of understanding intrahousehold dynamics and suggest that well-designed interventions can enhance the autonomy of female entrepreneurs, leading to better business outcomes [16][69]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - Thailand's economic activity is showing mixed signals, with stable private consumption and strong exports countered by a sharp decline in private investment due to rising uncertainty [1][2] - Goods exports have shown robust growth, particularly to the US and China, with a year-on-year increase of 13.9 percent in February, marking the highest growth in four months [4][12] - The tourism sector is experiencing a decline in arrivals, particularly from China, which fell by 40 percent year-on-year, reaching only 35 percent of pre-pandemic levels [3] Summary by Sections Economic Activity - Private consumption expanded modestly, supported by fiscal stimulus, but high household debt and tighter credit standards are constraining spending [2] - The private investment index contracted sharply, reflecting declines in consumer confidence and ongoing weakness in manufacturing output [2] Exports - Goods exports maintained double-digit growth, driven by strong shipments to the US and China, partly due to frontloading amid global trade uncertainties [4][12] - Exports to Japan and ASEAN have started to contract, indicating potential challenges in these markets [12] Tourism - Tourist arrivals in February declined by 6.9 percent year-on-year, with arrivals from major sources surpassing pre-pandemic levels except for China [3] - The recent earthquake may further dampen tourist confidence and arrivals in the coming months [3] Inflation and Monetary Policy - Inflation has declined for three consecutive months, with headline inflation at 0.8 percent in March, below the Bank of Thailand's target range [14] - The Bank of Thailand has lowered the policy rate to 2.0 percent to alleviate household debt pressures amid tightening credit standards [14] Fiscal Position - The central government's fiscal deficit widened to 6.7 percent of GDP in the first five months of FY 2025, driven by increased spending [15] - Fiscal revenue reached its highest level since 2020, but spending growth outpaced revenue gains [15] Financial Markets - The Thai baht depreciated by 1.5 percent in early April, influenced by global market risk-off sentiment despite a strong current account surplus [16][24] - The current account surplus rose to USD 5.5 billion, the highest since the pandemic, driven by a stronger goods trade balance [24][25]

公共披露经授权 公共披露经授权 公共披露经授权 公共披露经授权 政策研究工作论文 11110 当聚合具有误导性 在贫困的单元级小区域估计中的偏差 with Aggregate Data Paul Andres Corral Rodas 贫困与公平全球部门 2025年5月 政策研究工作论文11110 摘要 本文探讨为何仅使用汇总数据作为协变量的家庭层 面模型所产生的小区域贫困估计值存在系统性偏差 。分析表明，这种偏差源于模型无法捕捉家庭间福 利的完整变异，因为它们完全依赖于在家庭层面汇 总的协变量， 在地理层面上。通过基于模型的模拟，该论文表 明，当模型模拟的福利经验变异度最接近区域层 面的福利真实经验方差时，这些模型中的偏差最 小。这一发现也对单元层面的模型偏差具有启示 意义。 This paper is a product of the Poverty and Equity Global Department. It is part of a larger effort by the World Bank to 提供对其研究的开放获取，并为全球发展政策讨论做出贡献。政策 研究工作论文也发布在网站 http: ...

Investment Rating - The report indicates a positive outlook for the Vietnamese economy, with a projected GDP growth target of 8% for 2025, supported by increased public investment and domestic consumption [4][27]. Core Insights - Vietnam's GDP growth accelerated to 6.9% in Q1 2025, up from 5.9% in Q1 2024, driven by increases in domestic consumption and investment [2][11]. - Retail sales saw a significant increase of 10.8% year-on-year in March 2025, marking the highest monthly growth in nearly two years, attributed to rising wages and improved purchasing power [20][21]. - Industrial production improved with a year-on-year growth of 8.6% in March 2025, compared to 4.8% in March 2024, driven by sectors such as apparel, electronics, and machinery [13][31]. - Foreign Direct Investment (FDI) commitments decreased by 9.2% year-on-year in Q1 2025, reflecting cautious investor sentiment amid global trade uncertainties, although FDI disbursements remained resilient [17][18]. Economic Performance - The average monthly income in the first three months of 2025 rose by 9.5% compared to the same period in 2024, leading to a real wage growth of 6% [20]. - The inflation rate in March 2025 increased to 3.1%, driven by rising food and housing prices, but remained below the State Bank of Vietnam's target of 4.5-5% for 2025 [22][23]. - The trade surplus decreased to $3.2 billion in Q1 2025, down from $7.7 billion in Q1 2024, due to a slowdown in export growth to 10.6% from 16.8% [11][12]. Fiscal Overview - Fiscal revenue in the first quarter of 2025 reached 36.7% of the annual budget, up from 31.7% in the same period of 2024, primarily due to increased VAT and corporate income tax collections [3][27]. - Public investment disbursement rates slowed to 9.5% of the annual plan by the end of March 2025, compared to 12.3% in the previous year, posing challenges for achieving the GDP growth target [27].

公开披露授权 ZAMBIA 对获取正义和替代性纠纷解决 系统的评估 公开披露授权 公开披露授权 世界银行的治理与制度总项目得到了 ZAMBIA 对获取正义和替代性纠纷解决系统的评 估 世界银行的治理与制度总项目得到了 赞比亚司法部门改革支持项目（P180159） © 2025 世界银行 1818 H 街西北区, 华盛顿特区 DC 2043 3 电话: 202-473-1000; 互联网: www.worldbank.org 版权所有 这项工作是世界银行的产物。本项工作中表达的观点、解释和结论不一定反映世界银行执行董事的观点或他 们所代表政府的观点。 世界银行不保证本作品中包含的数据的准确性、完整性或时效性，也不对信息中出现的任何错误、遗漏或差 异承担任何责任，或对使用或未能使用所提供的信息、方法、流程或结论承担责任。作品中显示的边界、颜 色、面值、链接/脚注和其他信息并不代表世界银行对任何领土的法律地位或对相关边界的认可或接受。引用 其他作者的作品并不意味着世界银行认可这些作者的观点或其作品的内容。 本报告中任何内容均不构成或不得解释为对世界银行的特权和豁免权构成限制或放弃，所有这些特权和豁免 权均特此保留。 ...

良好实践 增强土地 权利确认 IN FORESTLANDS OF THE EAST ASIA AND 太平洋地区 公开披露授权 公开披露授权 公开披露授权 公开披露授权 © 2025 国际复兴开发银行 / 世界银行 1818 H Street NW Washin gton DC 20433 电话：202 -473-1000 互联网： www. worldbank.org 这项工作是由世界银行的工作人员与外部合作者共同完成的。作品中表达的观点、解释和结论不一定反 映世界银行、其执行董事会或他们所代表政府的观点。 世界银行不保证本作品中包含的数据的准确性、完整性或时效性，也不对任何信息中的错误、遗漏或差异 ，或对使用或未使用所提供的信息、方法、程序或结论的责任，以及因使用或未使用所提供的信息、方法 、程序或结论而产生的责任承担任何责任。本作品中任何地图上显示的国界、颜色、名称和其他信息并不 意味着世界银行对任何领土的法律地位或对相关国界的认可或接受。 此处所载任何内容均不构成或不应被视为对世界银行特权与豁免权的限制或放弃，所有这些特权与豁 免权均予保留。 权利与许可 本文中的内容受版权保护。因为世界银行鼓励传播其 ...

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - The study highlights significant welfare disparities between in-camp refugees and host communities in Ethiopia, with in-camp refugees experiencing 60 percent lower consumption per capita and poverty rates that are 40 percentage points higher than those of host communities [2][9][46] - Employment opportunities for in-camp refugees are severely limited, leading to a reliance on humanitarian aid, which is insufficient to alleviate high poverty levels [2][11][27] - The welfare of in-camp refugees is positively influenced by favorable host community characteristics, such as better socio-economic conditions and positive attitudes towards refugees [12][50][67] - Despite the introduction of policies allowing refugees to work outside camps, many still face barriers to accessing better employment opportunities, which perpetuates their dependence on aid [63][66] Summary by Sections Introduction - The report discusses the shift from humanitarian assistance to a development-oriented approach in addressing the socio-economic challenges faced by refugees, emphasizing the importance of welfare and poverty metrics [7][21] Data - The analysis utilizes data from the 2023 Socio-Economic Survey of Refugees in Ethiopia (SESRE), which includes extensive information on both refugees and host communities, allowing for a comparative analysis of welfare outcomes [8][29][30] Results - The findings reveal that in-camp refugees are significantly poorer than host communities, with a consumption per capita that is 60 percent lower and a poverty rate that is 40 percentage points higher [9][46] - Limited employment opportunities and reliance on aid contribute to the "trapped poverty" experienced by in-camp refugees, hindering their self-reliance [48][62] - The socio-economic environment of host communities plays a crucial role in shaping refugee welfare, with better conditions leading to improved outcomes for refugees [50][67] Employment Outside Camps - Approximately 40 percent of in-camp refugees seek employment outside camps, but this does not necessarily lead to improved welfare outcomes [57][66] - Working outside camps is associated with a greater sense of autonomy, despite the lack of formal employment opportunities and the risks involved [59][60] Conclusion - The report concludes that expanding access to employment opportunities for refugees is essential for fostering self-reliance and reducing aid dependency, highlighting the importance of Ethiopia's recent policy changes [63][65]