2008 Woodie Awards
Children best investment for developing nations
Erin Egan '07
Issue date: 10/5/06 Section: World
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The 2007 World Development Report, released in September, focuses on the unprecedented number of children in developing nations and the "demographic window of opportunity" that it is creating, as phrased by the World Bank's chief Economist, Francois Bourguignon.
If governments can assure these smooth life transitions through direct expenditures on health care and education then their investment "may be one of the most profound decisions a developing country will ever make to banish poverty and galvanize its economy," said Emmanuel Jimenez, lead author of the report, and director of human development in the World Bank's East Asia and the Pacific Department.
The call for investment in today's growing youth population is a harmonious promotion of social justice and productivity in the modern global economy.
Investing in the world's youth may never be deemed inappropriate, but if there were ever a time to adamantly push for it, it is now.
There are 1.3 billion young people living in developing nations today. According to the World Bank, the youth population is the largest, healthiest, and most educated in history.
This yields immense potential for economic growth and future labor markets.
Bourguignon warns, "The opportunities are great . . . but these young people must be well-prepared in order to create and find good jobs."
If properly prepared, the growth of this historically large youth population could have impacts that span far greater than its generation. However, if ill equipped, it will contribute to large unemployment rates and a variety of social tensions.
Already, today's young people make up half of the global unemployment rate. The World Bank predicts that the Middle East and North Africa alone must create 100 million new jobs by 2020 to accommodate this growing demographic.
There has been major progress throughout past years to lift children from disease and poverty, including UNICEF's Campaign for Child Survival which led to drastic drops in child mortality.
If governments can assure these smooth life transitions through direct expenditures on health care and education then their investment "may be one of the most profound decisions a developing country will ever make to banish poverty and galvanize its economy," said Emmanuel Jimenez, lead author of the report, and director of human development in the World Bank's East Asia and the Pacific Department.
The call for investment in today's growing youth population is a harmonious promotion of social justice and productivity in the modern global economy.
Investing in the world's youth may never be deemed inappropriate, but if there were ever a time to adamantly push for it, it is now.
There are 1.3 billion young people living in developing nations today. According to the World Bank, the youth population is the largest, healthiest, and most educated in history.
This yields immense potential for economic growth and future labor markets.
Bourguignon warns, "The opportunities are great . . . but these young people must be well-prepared in order to create and find good jobs."
If properly prepared, the growth of this historically large youth population could have impacts that span far greater than its generation. However, if ill equipped, it will contribute to large unemployment rates and a variety of social tensions.
Already, today's young people make up half of the global unemployment rate. The World Bank predicts that the Middle East and North Africa alone must create 100 million new jobs by 2020 to accommodate this growing demographic.
There has been major progress throughout past years to lift children from disease and poverty, including UNICEF's Campaign for Child Survival which led to drastic drops in child mortality.