Last month the World Bank published a report titled, “Where is the Wealth of Nations?” (HT: From the Heartland). The report

describes estimates of wealth and its components for nearly 120 countries. The book has four sections. The first part introduces the wealth estimates and highlights the level and composition of wealth across countries. The second part analyzes changes in wealth and their implications for economic policy. The third part deepens the analysis by considering the importance of human and institutional capital, and by linking wealth to production. The fourth part reviews existing applications of resource and environmental accounting in developed and developing countries.

Also out recently is an index of the most globalized nations by Foreign Policy (HT: International Civic Engagement). The top ten, based on 2005 data, which claims to “measure countries on their economic, personal, technological, and political integration”:

Read more on Reports on Globalization and National Capital…

As developing countries turn increasingly to private capital markets, the World Bank is facing not only a steep decline in demand for its loans but a crisis of relevancy. Sam Gregg looks at the changing market and how the rules of private lending might also provide a better check on corruption in the developing world. Adieu, World Bank?

Read more on Goodbye, World Bank?…

One of my favorite novels is Saul Bellow’s Henderson the Rain King. Eugene Henderson is a loud, boorish, rich American who goes on a soul-searching journey into the heart of a mythically depicted Africa.

One of Henderson’s first stops is a village inhabited by folks called the Arnewi. He comes into the village brandishing his modern implements, lighting a bush on fire (one of many biblical allusions) and offering to shoot any man-eating lions with his gun loaded with .375 H and H Magnum.

Henderson is determined to help the people of the village any way he can. When it becomes clear that the people (and their livestock) are suffering from water shortages, Henderson leaps into action.

It turns out that the source of the problem is that the village’s cistern is populated by frogs, which the villagers understand to be a curse. The water is not itself harmed by the frog’s presence, but it cannot be used while the frogs are there. Moreover, the Arnewi are prevented from doing anything about the infection, and must wait for divine intervention to lift the curse.

Henderson, of course, is restrained by no such ceremonial inhibitions. He says to the prince, “You’re not allowed to molest these animals, but what if a stranger came along–me for instance–and took them on for you?” Henderson is dedicated to helping the people, “I realized I would never rest until I had dealt with these creatures and lifted the plague.” Read more on The Henderson Model of International Aid…

The news coming out of the World Bank in recent weeks has largely focused on the departure of Paul Wolfowitz and the nomination of Robert B. Zoellick to head the bank. At the same time, a little noticed power struggle was underway at the World Bank over policies related to “reproductive health” and family planning. Michael Miller takes a closer look at the bank’s Malthusian enthusiasm.

Read more on Population and Poverty…