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The World Bank has used the Atlas method [1] since 1993 to estimate the economic size of countries based on their gross national income (GNI) in U.S. dollars.. To convert a country's GNI from its local currency to U.S. dollars, the Atlas method uses a conversion factor that averages exchange rates over three years.
A high-income economy is defined by the World Bank as a country with a gross national income per capita of US$14,005 or more in 2023, calculated using the Atlas method. [1] While the term "high-income" is often used interchangeably with " First World " and " developed country ", the technical definitions of these terms differ.
Jennifer "DJ" Nordquist [1] is an American public policy expert who served as the U.S. Executive Director of the World Bank, representing the U.S. as the largest shareholder at the International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC), and Multilateral Investment Guarantee Agency (MIGA).
The bank is engaged in several global partnerships and initiatives, and takes a role in working toward addressing climate change. The World Bank hosts an Open Knowledge Repository for its publications. In 2020, the World Bank's total commitments amounted to USD 77.1 billion, it had 12,300 full-time staff, and it operated in 145 countries. [5]
The World Bank’s Open Data site provides access to the WDI database free of charge to all users. Users can browse the data by Country, Indicators, Topics, and via the Data Catalog . The WDI database can be accessed directly via DataBank , a query tool where users can select series, economies, and time periods, and do bulk downloads in Excel ...
The World Bank Institute is the capacity development branch of the World Bank, providing learning and other capacity-building programs to member countries. The IBRD has 189 member governments, and the other institutions have between 153 and 184. [2] The institutions of the World Bank Group are all run by a board of governors meeting once a year ...
The World Integrated Trade Solution (WITS) is a trade software provided by the World Bank for users to query several international trade databases.. WITS allows the user to query trade statistics (export, import, re-exports and re-imports) from the UN's repository of official international trade statistics and relevant analytical tables (UN COMTRADE), tariff and non-tariff measures data from ...
Despite the above noted limitations and concerns recent econometric research looking at how reliable some of these indicators are, vis-a-vis data collected from natural experiments and other observational surveys, have actually concluded that the Good Governance Indicators do in fact seem to be measuring, albeit imperfectly, levels of corruption and government effectiveness. [9]