World Bank is the biggest multilateral development bank in the world, established in 1945 together with the IMF as Bretton Woods Institutions. World Bank actually refers to International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA). In addition to these International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA) and International Centre for Settlement of Investment Disputes (ICSID) constitutes the World Bank Group. The main purpose of the World Bank Group is to alleviate the poverty in the world and to boost the shared prosperity, which are called as "twin goals". The headquarters of the World Bank Group is located in Washington DC, USA, while it has country offices in almost all member countries. And, World Bank Turkey Country Office is now looking for a Research Analyst to work in Ankara, Turkey, where the application deadline is 2 December 2014.
- 141273
- Research Analyst
- Economic Policy
- Professional & Technical
- GE
- Ankara, Turkey
- Local Hire
- English [Essential]; Turkish [Essential]
- 02-Dec-2014
Background / General description:
Established in 1944, the World Bank Group (WBG) is one of the world’s largest sources of funding and knowledge for development solutions. In fiscal year 2014, the WBG committed $65.6 billion in loans, grants, equity investments and guarantees to its members and private businesses, of which $22.2 billion was concessional finance to its poorest members. It is governed by 188 member countries and delivers services out of 120 offices with nearly 15,000 staff located globally.
The WBG consists of five specialized institutions: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for the Settlement of Investment Disputes (ICSID). IBRD and IDA are commonly known as the World Bank, which is organized into six client-facing Regional Vice-Presidencies, several corporate functions, and – as of July 1, 2014 – has introduced fourteen Global Practices (GPs) as well as five Cross-Cutting Solution Areas (CCSAs) to bring best-in-class knowledge and solutions to regional and country clients. The new operating model is part of a broader internal reform aimed at delivering the best of the World Bank Group to our clients, so that together we can achieve the twin goals of (1) ending extreme poverty by 2030, and (2) promote shared prosperity for the bottom 40% of the population in every developing country.
The Macroeconomic & Fiscal Management Global Practice (MFM GP) is seeking an Economic Analyst to work predominantly on Turkey to be based in Ankara. The selected candidate will work for at least a fifth of his or her time on other countries or regional issues.
Turkey is one of the largest countries in ECA, with per-capita GDP on the verge of reaching high-income. Solid growth and an appreciating currency has helped more than triple GDP per capita and incomes for the bottom 40 percent since the start of the century, with a large decline in poverty and remarkable improvements in health and education outcomes. Nonetheless, in several dimensions of well-being, Turkey remains solidly a middle income country, facing numerous structural challenges. Macroeconomic vulnerabilities are also considerable, stemming in large part from a low saving rate and dependence on foreign capital of primarily short-term nature to finance a sizable current account deficit. Turkey’s ability to advance structural reforms and overcome the macroeconomic challenges are key for escaping from the threat of the middle-income trap into high income. As a result, Turkey’s experience is critically important for developing countries both in the region and in other corners of the world.
Turkey’s economic development over the past decade has resulted in impressive economic and social achievements. After a banking crisis in 2001, the country embarked on a concerted path of structural reform supported by strong fiscal consolidation, strengthened banking supervision, a reform of the social security system, and a shift to a flexible exchange rate regime with an independent central bank responsible for inflation targeting. Per-capita income subsequently almost tripled in less than a decade, and Turkey, with a population of almost 75 million, is now an upper middle-income country with the world’s 18th largest economy. Social outcomes have also improved considerably as a result of economic growth and improved public service delivery, with improved access to education (and virtually universal enrollment at the primary level) and health services (linked to the Health Transformation Program).
The benefits of economic growth have been widely shared in Turkey: incomes of the bottom 40 percent of the population rose as much as the average over the past decade. While Turkey’s rapid economic progress since the early 2000s is relatively well known, its most impressive achievement may well lie in the extent to which this growth has been inclusive. Between 2002 and 2012, and despite increasing expenditure inequality after the 2008 crisis, extreme poverty has fallen from 13 percent to 5 percent while moderate poverty fell from 44 percent to 21 percent (defined using the World Bank Europe and Central Asia regional poverty lines of US$2.5/PPP and US$5/PPP, respectively). Turkey’s performance in poverty reduction places the country among the top quartile of global poverty reduction episodes during 2006-2011. The labor market has been the most important factor driving poverty reduction in Turkey in the 2000s, with about two thirds of the decline in poverty due to higher private sector earnings or higher employment rates among poor households.
However, Turkey’s achievements have recently been challenged by an uncertain economic and political outlook. Economically, Turkey faces the prospect of lower growth in a context of less abundant international finance, unless it can strengthen competitiveness. Turkey’s business environment remains relatively burdensome, with the country ranking 69th in the 2014 Doing Business Report. Improving the investment climate is critical for raising Turkey’s labor productivity growth and further boosting its export performance. Notwithstanding rapid employment growth between 2007 and 2012, Turkey continues to have the strictest employment legislation among Organization for Economic Cooperation and Development (OECD) countries. Turkey’s employment rate remains below that of most peers, with a particularly low level of female labor force participation. Reforms to make the labor market more flexible could contribute to facilitating greater female employment. The implementation of further microeconomic reforms to deepen the financial sector will help provide greater access to financial services for all citizens and can also contribute to reversing the significant decline in Turkey’s domestic saving rates that took place over the past decade. In parallel, continued improvements in enterprise governance could help Turkey attract further foreign direct investment (FDI) inflows, bringing in associated new technologies and providing a more stable source of external financing.
The selected candidate will be an integral part of the Turkey country teams and the global MFM GP, and will report to the MFM Practice Manager covering Turkey.
Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 3 year term appointment.
The World Bank Group is committed to achieving diversity in terms of gender, nationality, culture and educational background. Individuals with disabilities are equally encouraged to apply. All applications will be treated in the strictest confidence.
The Research Analyst (Economic Analyst) will have analytical and operational responsibilities and provide support for a variety of economic tasks under the direct supervision of the Lead Economist. Specific tasks include:
• Collect and analyze economic data on Turkey, including but not limited to data on national accounts, prices, external trade and debt, fiscal accounts, monetary and exchange rate issues, and performance by companies. The data collection will include frequent communications with relevant ministries, the central bank, the statistics agency and others.
• Maintain current statistical databases covering the above areas, produce regular projections, and write ad-hoc notes on data releases and projections as needed.
• Lead or co-lead the Turkey Regular Economic Note.
• Independently research and analyze a variety of specific economic, financial, or sector topics and issues for lending, research, and/or policy related tasks. Prepare sections of country economic, sector, strategy or research reports involving the analysis, evaluation and, preparation of data.
• Work closely with colleagues from the poverty global practice to prepare regular twice a year poverty forecasts.
• Facilitate missions by colleagues from MFM GP and engage with country staff on economic issues.
• Carry out work on other countries in Europe and Central Asia as needed, including data collection, preparation of databases, analysis, preparation of short notes, and mission facilitation.
• Support the Country Management Unit (CMU) in the implementation of the Bank’s Turkey program.
• Be active in at least one thematic area under the MFM Global Practice.
Selection Criteria:
Selection Criteria & Competencies Required:
• Master’s degree or equivalent in economics or finance. Strong analytical and quantitative skills.
• Ability to work flexibly on a range of assignments, and adjust to and prioritize a variety of complex evolving tasks.
• Ability to effectively provide professional support to senior staff.
• Ability to work effectively in a team-oriented, multi-cultural environment.
• Ability to write and speak fluently in English and Turkish (both essential), including the ability to present complicated analyses to non-specialist audiences.
• Familiarity with econometric packages (e.g., EViews, STATA) and spreadsheet models; experience in working with macroeconomic data and writing macroeconomic research reports would be an added advantage.
• General Economic Knowledge and Analytical Skills - Possesses Cross-country knowledge in economic specialty and demonstrates ability to link the macro, institutional, and micro-level behaviors; able to support findings/policy recommendations with credible analysis and tools.
• Knowledge and Experience in Development Arena - Translates technical and cross-country knowledge into practical applications and contributions to country and sector strategies; interacts with clients at the policy level.
• Policy Dialogue Skills - Anticipates needs and requests in the field and conducts independent policy discussions with representatives of the government and non-government partners.
• Integrative Skills - Understands relevant cross-sectoral areas how they are interrelated; able to undertake cross-sectoral work in lending and non-lending operations.
• Macroeconomic skills and country economics experience – Able to translate technical analyses of macroeconomic, debt, trade, fiscal policy, and growth linkages into policy recommendations and cross-country lessons.
• Written and Verbal Communication - Demonstrates the ability to influence and persuade others to accept ideas and suggestions (such as counterparts in government, international partner organizations, academia, and Bank colleagues, senior staff and managers).
• Lead and Innovate – Develops innovative solutions with others.
• Deliver Results for Clients – Achieves results and identifies mission-driven solutions for the client.
• Collaborate Within Teams and Across Boundaries – Initiates collaboration across boundaries and broadly across WBG, and brings differing ideas into the forefront.
• Create, Apply and Share Knowledge – Creates, applies and shares knowledge from across and outside WBG to strengthen internal and/or external client solutions.
• Make Smart Decisions – Recommends and takes decisive action.
Source: worldbank.org
