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Risk and Opportunity: Managing Risk for Development

Why is gaining a comprehensive understanding of how to properly manage risk so important for development? The inability to manage risk effectively leads to crises and missed opportunities. As we have seen in the recent years, the world has suffered numerous shocks that reveal how vulnerable people are, especially in developing countries, when risks are not properly managed. The world also witne... view more

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Risk Management as a Tool for Development

Will you be ready when a crisis strikes or when an opportunity knocks at your door? To be ready, managing risk effectively is key.

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The Opportunity Side of Risk

The risk is often an important and necessary part of taking advantage of economic opportunities.

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Risk and Opportunity cartoon panel

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Key Components of Risk Management

One of our first observations from the World Development Report 2014 was that people and groups often fail to prepare for risk.

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Key Obstacles to Risk Management

First obstacle we need to manage risk properly is linked to the incentives different actors have to manage the risk.

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Managing Risk in Developing Countries

It’s important to realize that the nature of risk management has radically changed maybe over the past 20 years.

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Innovations in Social Insurance

We all rely on others, families, spouses, parents, and later in life even our adult children.

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The Role of the Financial System in Managing Risk

Financial system can improve risk management by providing formal financial tools such as savings.

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The Private Sector’s Contribution to Risk Management

Individuals can easily manage shocks that are small or idiosyncratic, but fail to manage large, systemic or sequential shocks.

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Reforming Social Insurance

Reforming Social Insurance is a major component of social policy and is very relevant in very many dimensions.

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The Importance of Macroeconomic Stability

Individuals can easily manage shocks that are small or idiosyncratic, but fail to manage large, systemic or sequential shocks.

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When Risks Exceed National Capacity: The Role of the International Community

The international community has a very important role in the process of development in risk management.

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The International Community’s Contribution to Risk Management

Individuals can easily manage shocks that are small or idiosyncratic, but fail to manage large, systemic or sequential shocks.

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Global Risks

The World Development Report of 2014 on risk and opportunity encapsulates many of the issues that face development.

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Overarching Principles and Integrated Risk Management

How can we mainstream risk management into the development agenda? Here are three steps.

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Best Practice Around the World

Every country faces challenges in managing risk.

About the Presenters

Norman Loayza

Director, World Development Report 2014, World Bank

Mushfiq Mobarak

Associate Professor of Economics, Yale University

Kyla Wethli

Lead Author, World Development Report 2014, World Bank

Stephane Hallegatte

Lead Author, World Development Report 2014, World Bank

Erwann Michel-Kerjan

Executive Director, Risk Management and Decision Processes Center, Wharton School of Business

Francisco Ferreira

Chief Economist for the Africa Region, World Bank

Martin Melecky

Lead Author, World Development Report 2014, World Bank

Santiago Levy

Vice President for Sector and Knowledge, Inter-American Development Bank

Inci-Otker-Robe

Lead Author, World Development Report 2014, World Bank

Ian Goldin

Director, Oxford Martin School, Oxford University

Jonathan Wiener

Professor of Law, Duke Law School