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World Development Report 2023: Migrants, Refugees, And Societies

World Development Report 2023: Migrants, Refugees, And Societies:

The ‘World Development Report 2023: Migrants, Refugees, and Societies’ was recently released by the World Bank.

  • The World Development Report (WDR) is an annual report published since 1978 by the International Bank for Reconstruction and Development (IBRD) or World Bank.
  • It provides an in-depth analysis of a specific aspect of economic development.

Highlights of the WDR 2023:

  • The share of working-age adults will drop sharply in many (developed) countries over the next few decades.
  • Spain, with a population of 47 million, is projected to shrink by more than one-third by 2100, with those above age 65 increasing from 20 to 39% of the population.
  • Most low-income countries are expected to see rapid population growth, putting them under pressure to create more jobs for young people.
  • The report introduces the “Match-Motive Framework,” a labour economics-based approach that emphasizes how well migrants’ skills and attributes match the needs of the destination countries.
  • The framework also considers the reasons why migrants move in search of opportunity and determines the extent to which migrants, origin countries and destination countries gain from migration.
  • The framework combines “match” and “motive” to determine policy priorities for countries of origin, transit, destination, and the global community.