(Originally posted 5th October 2016 on my previous site):
These are annual Reports published by the World Bank into development triumphs and lessons. Each World Development Report (WDR) usually has a focus, and the 2017 WDR’s title is “Law and Governance”. Being just a little excited about this, I wrote a blog post that was published on the SLSA website, exploring the extent to which the World Bank was likely to open itself up to different approaches. You can read it here.
Overall, I’m not holding my breath for a radical realignment of World Bank policy, and even though the rewards could be immeasurable, I’m certainly not holding out for Economic Sociology of Law-based approaches to feature. But even just considering the role of law and governance in enabling (or hindering) development is a step forward. The World Bank is beginning to recognize that there is more to life than just economic equations.
There has also been a move towards experimentalism in development, which builds on behavioural economics and other slight expansions in policy over the past few years. While this is to be welcomed, there is a long way to go.