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In order to achieve the objectives of the Paris Climate Change Agreement, the conversion of our economy, which is still dominated by fossil carbon, to the bioeconomy model must be completed by 2050. This requires a shift from oil, gas and coal to agricultural, forestry and marine raw materials and will affect the global processing chains for energy, fuels and chemicals. However, the land required for the production of raw materials is competing with the production of food and animal feed. In addition, future land use must better take into account planetary boundaries and the preservation of ecosystem services. In order to achieve economic, ecological and societal sustainability, the necessary measures must therefore be geared towards the UN's sustainability goals. Against this background, the future bioeconomy will have to concentrate on the food, chemical and heavy fuel sectors. Important sub-areas are alternative animal protein for nutrition, feedstock efficiency in the processing of bio-based raw materials, and the expansion of the raw materials spectrum. This requires enormous investment in industrial facilities, the integration of newly emerging value chains and the necessary infrastructure. The annual global investment requirements for renewable energy, bio-based chemicals and fuels, and ecosystem services is estimated at USD 1-2 trillion over the next three decades, equivalent to about 1.3-2.6% of global GDP. This article discusses the implications and guard rails of the bioeconomy model, as well as capital needs and possible sources.

This study is a product of the Africa Infrastructure Country Diagnostic (AICD), a project designed to expand the world's knowledge of physical infrastructure in Africa. The AICD provides a baseline against which future improvements in infrastructure services can be measured, making it possible to monitor the results achieved from donor support. It also offers a more solid empirical foundation for prioritizing investments and designing policy reforms in the infrastructure sectors in Africa. The book draws upon a number of background papers that were prepared by World Bank staff and consultants, under the auspices of the AICD. The main findings were synthesized in a flagship report titled Africa's infrastructure: A time for transformation, published in November 2009. Meant for policy makers, that report necessarily focused on the high-level conclusions. It attracted widespread media coverage feeding directly into discussions at the 2009 African union commission heads of state summit on infrastructure.

Matsuyama (Econometrica 72(3):853–884, 2004) shows that financial integration may lead to income polarization among inherently identical countries, if these countries are financially underdeveloped, a result he calls \"symmetry breaking.\" By introducing the minimum investment requirement and within-country wealth inequality into Matsuyama's framework, I show that wealth inequality is as important as financial development in determining the possibility of symmetry breaking. I then address three practical issues in this model, e.g., the conditions of financial integration, the domestic financial crisis and capital controls, and the world interest rate changes and income volatility.

At present, different concentrating solar thermal technologies (CST) have reached varying degrees of commercial availability. This emerging nature of CST means that there are market and technical impediments to accelerating its acceptance, including cost competitiveness, an understanding of technology capability and limitations, intermittency, and benefits of electricity storage. Many developed and some developing countries are currently working to address these barriers in order to scale up CST-based power generation.Given the considerable growth of CST development in several World Bank Group partner countries, there is a need to assess the recent experience of developed countries in designing and implementing regulatory frameworks and draw lesson that could facilitate the deployment of CST technologies in developing countries. Merely replicating developed countries’ schemes in the context of a developing country may not generate the desired outcomes.Against this background, this report (a) analyzes and draws lessons from the efforts of some developed countries and adapts them to the characteristics of developing economies; (b) assesses the cost reduction potential and economic and financial affordability of various CST technologies in emerging markets; (c) evaluates the potential for cost reduction and associated economic benefits derived from local manufacturing; and (d) suggests ways to tailor bidding models and practices, bid selection criteria, and structures for power purchase agreements (PPAs) for CST projects in developing market conditions.

Over the past ten years, private-sector-led growth has revolutionized access to telecommunications. Every region of the developing world benefitted in terms of investment and rollout. This revolution would have been impossible without government reform and oversight. Advanced information and communication infrastructure (ICI) are increasingly important to doing business in a globalizing world. Governments, enterprises, civil society, workers, and poor populations in the developing countries need more affordable access. This report proposes strategies that governments can carry out to attract private investment and ensure the continued evolution and spread of information and communication infrastructure. These strategies encompass more than sector policy alone, for investment decisions are based on a wide range of factors including, for example, the roles played by financial sector development and the broader investment environment. The strategies also include potential public sector investments that can catalyze ICI rollout in subsectors where the private sector is not prepared to intervene on its own.

As the world demand for energy continues to grow, a big question is where will all the energy come from and what will the price tag be. With such enormous sums needed, public-private partnerships (PPPs) could play a big role. But the financial crisis has raised worries about funding, and much is still not known about how best to attract PPPs. This report reviews the evidence to date with sectoral reforms and considers different approaches in varying circumstances to help outline the potential role of the private and public sector in: 1) strengthening the corporate governance of private and public utilities; 2) helping governments to establish legal, regulatory, contractual, and fiscal frameworks; and 3) improved market governance to attract private investment. Chapter one reviews the impact of the recent financial crisis on PPP investment compared with what happened in earlier financial crises. It also looks out the latest projections for additional power sector investment needed because of climate change and the possible sources of financing. Chapter two examines how PPP investment in the power sector has fared. It also gives the results of an econometric study that explores which types of incentives and variables matter most to PPPs when they are weighing entering the power sector, especially in renewables, and what influences the ongoing level of investment. The idea is to provide a powerful benchmarking tool at the sector and country levels against which governments and policy makers can evaluate progress on this issue. Chapter three examines four case studies-in China, Brazil, Peru, and Mexico-to identify, disseminate, and promote best practices on alternative ways to attract PPPs.

Information and communication technologies (ICTs) have been a remarkable success in Africa. Across the continent, the availability and quality of service have gone up and the cost has gone down. In just 10 years dating from the end of the 1990s mobile network coverage rose from 16 percent to 90 percent of the urban population; by 2009, rural coverage stood at just under 50 percent of the population. Although the performance of Africa's mobile networks over the past decade has been remarkable, the telecommunications sector in the rest of the world has also evolved rapidly. Many countries now regard broadband Internet as central to their long-term economic development strategies, and many companies realize that the use of ICT is the key to maintaining profitability. This book is about that challenge and others. Chapters two and three describe the recent history of the telecommunications market in Africa; they cover such issues as prices, access, the performance of the networks, and the regulatory reforms that have triggered much of the investment. This part of the book compares network performance across the region and tries to explain why some countries have moved so much more quickly than others in providing affordable telecommunications services. Chapter four explores the financial side of the telecommunications revolution in Africa and details how the massive investments have been financed and which companies have most influenced the sector. Chapter five deals with the future of the sector. The final chapter synthesizes the main chapters of the book and presents policy recommendations intended to drive the sector forward.

There are significant economic gains to be realized if the East Africa sub region improves the overall integration of its markets. But infrastructure development that links markets across countries faces particular challenges, political, institutional, and economic. In the case of East Africa, these challenges have served to hold back investment into regional infrastructure, despite significant recent efforts within the region to develop regional infrastructure investment plans and promote an increased use of Public-Private Partnership (PPP) approaches to mobilize private sector financing and expertise. The report also recommends funding options for regional PPPs. The two main products identified are a Viability Gap Facility (VGF), which would bridge the gap between the commercial viability of a regional PPP and its economic viability; and a Project Development Facility (PDF), which could support the preparation costs of regional PPPs. The VGF could potentially be linked to the EAC Development Fund. Partner States need to be aware when designing these products that they may compete for funds with domestic financing needs. The report also considers the desirability of a regional long-term debt facility, and while there is widespread recognition of the need for longer-term local currency financing, the challenges involved in implementing such a facility are such that this will need to be revisited at a future date.

How to leverage existing resources to meet the current and future needs of cities Crumbling streets and bridges. Poorly performing schools and inadequate social services. These are common complaints in cities, which too often struggle just to keep the lights on, much less make the long-term investments necessary for future generations. It doesn't have to be this way. This book by two internationally recognized experts in public finance describes a new way of restoring economic vitality and financial stability to cities, using steps that already have been proven remarkably successful. The key is unlocking social, human, and economic wealth that cities already own but is out of sight-or \"hidden.\" A focus on existing public wealth helps to shift attention and resources from short-term spending to longer-term investments that can vastly raise the quality of life for many generations of urban residents. A crucial first step is to understand a city's balance sheet-too few cities comprehend how valuable a working tool this can be. With this in hand, taxpayers, politicians, and investors can better recognize the long-term consequences of political decisions and make choices that mobilize real returns rather than rely on more taxes, debt, or austerity. Another hidden asset is real estate. Even poor cities own large swathes of poorly utilized land, or they control underperforming utilities and other commercial assets. Most cities could more than double their investments with smarter use of these commercial assets. Managing the city's assets smartly through the authors' proposed Urban Wealth Funds-at arm's-length from short-term political influence-will enable cities to ramp up much needed infrastructure investments.