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Running head: ANALYSIS OF THE WORLD BANK MEMBER COUNTRIES ANALYSIS OF THE WORLD BANK MEMBER COUNTRIES Name of the Student Name of the University Author Note
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1ANALYSIS OF THE WORLD BANK MEMBER COUNTRIES Executive Summary This report is based on the analysis of the ways by which the World Bank has affected the growth of a particular sector of a country. Australia has been chosen as the country and the retail sector has been chosen for the detailed analysis. The different players in the retail sector are considered in the analysis. The discussion has depicted that the retail sector of Australia has been affected in a positive manner by the various steps that have been taken by the World Bank. The country has also received support related various initiatives that has been taken for the development of the society at large.
2ANALYSIS OF THE WORLD BANK MEMBER COUNTRIES Table of Contents Introduction....................................................................................................................3 About the organization and the country.........................................................................3 Analysis of the activities of the World Bank in improving the infrastructure of the country........................................................................................................................................4 Improvements that have been made by the country.......................................................5 Management of the related organizations in global context..........................................9 Conclusion....................................................................................................................10 References....................................................................................................................12
3ANALYSIS OF THE WORLD BANK MEMBER COUNTRIES Introduction The World Bank is a financial institution which operates on an international basis. The organization provides loans to the various countries of the world for the purpose of completing capital projects. The World Bank Group consists of two major institutions like, the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). The World is considered to be a component of World Bank Group. The major goal of the World Bank is to reduce poverty from the various countries which are members of the institution. The World Bank was established in the year 1944 in the Bretton Woods Conference with the International Monetary Fund or IMF. The president of World Bank is an American (World Bank. 2018). The IMF and the World Bank are located in Washington D.C. and they work in a close manner with each other. The two most powerful nations of the Bretton Woods Conference are the United Kingdom and the United States. The various negotiations that are made in the conference have been dominated by these two nations mainly. The World Bank is thereby known in the industry for providing temporary loans to the low-income based countries of the world. The policies that are related to the providing of loans can be changes based on the discretion of the Bank itself (World Bank. 2018). The report will be based on the analysis of a country which is a member of the World Bank. The country that is taken into consideration is Australia and the organization that is considered for this purpose is Woolworths which is an international organization that operates in the retail sector of the country. About the organization and the country Woolworths is an Australian supermarket chain which has more than 950 stores in the retail sector. The company mainly relies on more than 1,00,000 employees who are members
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4ANALYSIS OF THE WORLD BANK MEMBER COUNTRIES of the team. The employees are mainly posted in the stores, the distribution centres and the support offices to provide superior services to the customers along with value, convenience and range (Woolworths.com.au. 2018). Woolworths mainly prides on working with the Australian farmers and the growers so that company can ensure that the best products can be provided to the customers. The organization sources around 96% of the fresh fruit and the vegetable and 100% fresh meat from the Australian growers and the farmers (Polak and Boughton 2016). This quality makes the company as “Australia’s Fresh Food People”. Woolworths is also considered to be an innovative retail organization which understands the needs and the demands of the consumers. The company mainly targets the consumers with the help of simple and new ways for them to shop. The consumers can thereby shop the products with the help of their computers at home with the help of the Supermarket App which further delivers the products directly to the consumers (Bulman, Kolkma and Kraay 2017). The World Bank, the Australian government and the Asian Development Bank or ADB have collaborated with each other to renew the commitment based on supporting the Pacific island countries to address the key challenges that are facing this region. The major issues that are being faced by the countries in this areas are, situations of fragility, gender inequality, environmental vulnerability and economic vulnerability. The country and its various projects are supported by the World Bank (Eichenauer and Knack 2016). Analysis of the activities of the World Bank in improving the infrastructure of the country The World Bank Group and the Australian government have joined the forces for the purpose of boosting the investment in the Indo-Pacific countries. A World Bank program has been launched by the Government of Australia to help the countries in Indo-Pacific region to
5ANALYSIS OF THE WORLD BANK MEMBER COUNTRIES attract and boost the potential foreign direct investments and to improve the economic growth. The World Bank Group isthe greatestmultinationaldevelopmentpartner of Australia. The organization contains 18 member countries and this group has become a source of technical and financial assistance to the developing countries of the world (Cohen and Lee 2016). The collaboration that has taken place between the World Bank Group and the Australian Government is mainly guided by Australia-World Bank Group Partnership Framework which was signed in the year 2011. Australia is an influential and middle-sized donor in East Asia and the Pacific with the development program in the countries like, the Middle East, Africa and West and South Asia. The policy framework that has been formed for Australia’s aid program has proved to be an effective aid program for Australia which acknowledgesthatthemultilateralorganizationsarepartnersinfightagainstpoverty (Duranton, Henderson and Strange 2015). The World Bank mainly works together with Australia to take advantage of the skills and experience of the country. Australia has also aimed at providing aid for the better future of the world. The aid program has contributed to the sustainable growth of the economy and the reduction in the poverty rates. The world is presently interconnected on a global basis. The aid program thereby provides more trading related opportunities to the Australian business organizations and the neighbours. The economic and the social stability has further reduced the risk that is based on the political instability (Panayotou 2016). The Australian aid program is thereby supported by the World Bank and is focussed in the regions like Asia and the Pacific areas. The major priorities that are related to this program are, gender equality, health care, economic development and agriculture. The World Bank has joined Australia in the aid programs that have been organised by the country in various areas (Malik and Stone 2018).
6ANALYSIS OF THE WORLD BANK MEMBER COUNTRIES Improvements that have been made by the country The projects funded by the World Bank that are implemented in Australia have been able to improve the economic conditions of the country. More than 200,000 people in the various remote communities will be affected by the Papua New Guinea of PNG project that has been implemented by World Bank. The rural areas of the country have been developed with the help of this program which was developed by the World Bank (Smets and Knack 2016). The World Bank has also planned to boost the efficiency related to improved services, reduced emissions and the cost savings. A new initiative has been taken by the World Bank for helping the cities in the developing countries to integrate the energy efficiency into the strategic planning and the operations. The improvement of the public services has also been a major priority of the initiative that has been taken by the World Bank in the recent times. The City Energy Efficiency Transformation Initiative or CEETI has been working with the government of these areas for the purpose of facilitating the promising investments that are based on the energy efficiency (Castaño, Méndez and Galindo 2015). ESMAP is a technical and knowledge based assistance program that is administered by World Bank and the helps the low and the middle income based countries to achieve the sustainable energy based solutions. Australia has been aiding the improvements that need to made in the lives of the poor people who have been hit by the various issues like global recession, economic slowdown and other factors. The country has been providing aid to the people in these areas with the help of broad growth and the generation of employment. The development of the rural areas has been a major part of the various initiatives that have been by the World Bank along with Australia. The global demand for food has also increased due to the increase in population in the rural areas of the country (Besley 2015). The changes that have taken place in the climatic
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7ANALYSIS OF THE WORLD BANK MEMBER COUNTRIES conditions have caused issues in the daily lives of people who stay in the rural areas. Australia, along with the assistance of the World Bank has been able to spend on the development of the various rural areas. The country has also been providing micro-finance based loans to the citizens of the countries with the help that has been offered by the World Bank. The socio-economic benefits in the Pacific region has been supported by the increased investment of Australia in the process of policy reforms and maintenance. The major investments that have been made on the infrastructure support is based on the investments related to transport. The programs have thereby been expanded for the purpose of facilitating the new technologies. The infrastructure aid also consists of the sanitation and waste related expenditures of the country (Docquier, Ozden and Peri 2014). The World Bank and Australia together have also taken initiatives which are based on the development of the education sector and the providing highest levels of education to most of the children. The quality of the education that is provided to the students in various countries have also been improved with the help of the aid that is provided by the Australian government. The power of education is recognised by the Australian government and this encouraged them to aid the various programs which are based on providing education to the various students across the world. The government has thereby planned to increase the expenditure that has been planned in the education sector (Graham and Zvobgo 2018). The World Bank has been providing the adequate amount of resources that are required for providing the right amount of education to children. The opportunities related to higher education and scholarships have also been provided to the students so that they are able to excel in their own fields. The country is supporting the enhancement of the regional centres of education (Kersting and Kilby 2016). AnothermajorinvestmentthathasbeenbytheWorldBankalongwiththe government of Australia is in the health sector of the country. The various issues that have
8ANALYSIS OF THE WORLD BANK MEMBER COUNTRIES been occurring in this sector are aimed to be solved with the help of the investments that are made in the health sector of Australia. The major problems related to health have been faced by the people who are living in the rural areas of the country. The support related to the health activities have been provided by the Australian government with the help of the World Bank. Australia has further helped the partner countries in the maintenance of health related investments that are made for the citizens (Bettin, Presbitero and Spatafora 2015). Sustainable development is another major area where the Australian government is investing along with the support provided by the World Bank. The governance of the organizations operating in the modern business environment is important for the achievement of various business goals. The building of capacities related to public financial management and effective economic management is important. This further ensures that the public resources can be used in a sustainable manner and in areas of need. The effective governance takes place when the private sector, the government, the civil society and the citizens are able to collaborate and work together (Freistein 2016). The effective delivery of the various basic services like, education, health and infrastructure are all a part of the process of effective governance. Effective governance further includes the commitment related to the process of combatingcorruption,improvementoftransparencyandtheaccountabilityofthe government. The country is thereby committed towards working at all the levels of the society in various partner countries. The economic governance is based on the reform of the public sector. The Australian government has thereby planned various investments along with the World Bank for the purpose of enabling sustainable development of the environment (Moretti and Pestre 2015). The investments have made along with the various activities that have been performed to reduce corruption in the government based activities. The country has also provided significant assistance to the law and justice based reform efforts in the various areas of the partner countries. The democratic processes will be improved with the
9ANALYSIS OF THE WORLD BANK MEMBER COUNTRIES help of the Australian government and the support that is provided by the World Bank (Duranton 2015). Management of the related organizations in global context The retail food sector of Australia is based on the strong relationship that has been created between the financial sector of the country and the various retail organizations. Australia is the 12thlargest economy in the world and the World Bank has supported the various sectors of the country with huge amounts of capital. The financial sector of the country is considered to be well established in nature and this has provided support to the retail sector. The World Bank has been supporting Australia in the various investments that have been made by the country in different areas and sectors (Heidari, Katircioğlu and Saeidpour 2015). The retail sector of the country is booming in nature and the various organizations which are a part of this sector have been able to gain a lot. The strong economy of country has been supported by the transparent methods related to trade which have been implemented in the different areas. The country also exports various products and resources to the different countries of the world which include, China, Korea, Japan, the United States and India. The societyof Australiais urbanizedin nature and the areasare largely unpopulated as well. The multicultural society of the country has also been a major reason behind the growth of various sectors (Heidari, Katircioğlu and Saeidpour 2015). The major players of the Australian retail market are Woolworths, which is an Australian owned organization and they trade under the logo of the “Fresh Food People”. The core business of the company in Australia is based on the sales of grocery. The Coles supermarket which is a part of the conglomerate named Wesfarmers is another major player in the retail sector of Australia. The company has been able to turn around the lagging sales with the help of the strong customer relationship that has been created by Coles (Duranton 2015). The Aldi supermarkets is another major organization in the Australian retail sector. This is a German
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10ANALYSIS OF THE WORLD BANK MEMBER COUNTRIES basedorganizationandthehasbeentradinginAustraliasincetheyear2001.The organization is the only discounter in the Australian market which has increased its shares every year in the market. Metcash Trading Limited Australia is also a large grocery based organization in Australia. The company is a major wholesaler of goods which belong to the grocery sector of the country. 7-eleven is another major retail store that has its operations in Australia. The company is mainly known for the various convenience stores and the franchise stores that are operated all over the country (Moretti and Pestre 2015). The industry of supermarkets in Australia has been fiercely competitive in nature and the rapid growth of the organizations have led to the increase of competition in the market. The levels of competition have been increased by the three major retail organizations in the country, namely, Coles, Woolworths and Aldi. The changes that occur frequently in the business environment have been a major reason behind the high levels of competition in the industry. The shopping of grocery is mainly done based on the preferences of the consumers (Docquier, Ozden and Peri 2014). The retail industry of Australia has contributed to the economy of the country. The infrastructure of this sector has been developed with the help that is provided by the World Bank to the government of Australia. The World Bank has been supporting the Australian government in the various initiatives that have been taken for the development of its partner nations. The booming retail sector of the country is thereby supported by the various loans and investments provided by the World Bank (Docquier, Ozden and Peri 2014). Conclusion The report can be concluded by stating that the World Bank has provided huge amounts of support to the Australian government for the improvement related activities of the infrastructure of the country. The various steps that have been taken by the Australian government along with the support of the World Bank has been a major reason behind the improvement of the infrastructure of the country. The retail sector of Australia has been
11ANALYSIS OF THE WORLD BANK MEMBER COUNTRIES considered for analysis in the report. The ways by which the retail sector of the country has been supported by the World Bank has been analysed in the report. The analysis has shown that the growth of the retail sector of Australia has been supported immensely by the various steps taken by the World Bank. The sector has thereby shown huge growth and has contributed to the development of the economy.
12ANALYSIS OF THE WORLD BANK MEMBER COUNTRIES References Besley, T., 2015. Law, regulation, and the business climate: The nature and influence of the World Bank Doing Business project.Journal of Economic Perspectives,29(3), pp.99-120. Bettin, G., Presbitero, A.F. and Spatafora, N.L., 2015. Remittances and vulnerability in developing countries.The World Bank Economic Review,31(1), pp.1-23. Bulman, D., Kolkma, W. and Kraay, A., 2017. Good countries or good projects? Comparing macroandmicrocorrelatesofWorldBankandAsianDevelopmentBankproject performance.The Review of International Organizations,12(3), pp.335-363. Castaño, M.S., Méndez, M.T. and Galindo, M.Á., 2015. The effect of social, cultural, and economic factors on entrepreneurship.Journal of Business Research,68(7), pp.1496-1500. Cohen, M.A. and Lee, K.S., 2016. A Summary of World Bank Urban Policy Paper and Research Update.Regional Science in Developing Countries, p.7. Docquier, F., Ozden, Ç. and Peri, G., 2014. The labour market effects of immigration and emigration in OECD countries.The Economic Journal,124(579), pp.1106-1145. Duranton, G., 2015. Growing through cities in developing countries.The World Bank Research Observer,30(1), pp.39-73. Duranton, G., Henderson, V. and Strange, W. eds., 2015.Handbook of regional and urban economics. Elsevier. Eichenauer, V.Z. and Knack, S., 2016. Poverty and policy selectivity of World Bank trust funds.
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13ANALYSIS OF THE WORLD BANK MEMBER COUNTRIES Freistein, K., 2016. Effects of indicator use: a comparison of poverty measuring instruments at the World Bank.Journal of Comparative Policy Analysis: Research and Practice,18(4), pp.366-381. Graham, B.A. and Zvobgo, K., 2018. The World Bank as an Enforcer of Human Rights. Heidari, H., Katircioğlu, S.T. and Saeidpour, L., 2015. Economic growth, CO2 emissions, and energy consumption in the five ASEAN countries.International Journal of Electrical Power & Energy Systems,64, pp.785-791. Kersting, E. and Kilby, C., 2016. Do domestic politics shape US influence in the World Bank?.Villanova School of Business Economics Working Paper,28. Malik, R. and Stone, R.W., 2018. Corporate Influence in World Bank Lending.The Journal of Politics,80(1), pp.000-000. Moretti, F. and Pestre, D., 2015. Bankspeak: the language of World Bank reports.New Left Review,92(April), pp.75-99. Panayotou,T.,2016.Economicgrowthandtheenvironment.Theenvironmentin anthropology, pp.140-148. Polak, J.J. and Boughton, J.M., 2016. The World Bank and the International Monetary Fund: A Changing Relationship. InEconomic Theory and Financial Policy(pp. 92-146). Routledge. Smets, L. and Knack, S., 2016. World Bank lending and the quality of economic policy.The Journal of Development Studies,52(1), pp.72-91. Woolworths.com.au.(2018).Woolworths.com.au.[online]Availableat: https://www.woolworths.com.au/ [Accessed 18 May 2018].
14ANALYSIS OF THE WORLD BANK MEMBER COUNTRIES WorldBank.(2018).WorldBankGroup-InternationalDevelopment,Poverty,& Sustainability. [online] Available at: http://www.worldbank.org/ [Accessed 18 May 2018].