Download or read book Report on the World Bank Research Program for Fiscal Years 2006, 2007 and 2008 and Future Directions written by World Bank. Development Research Group. Research Support and published by . This book was released on 2009 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: The World Bank research program contributes to the intellectual knowledge guiding corporate strategies, lending operations and policy advice. It is also a global public good contributing to knowledge on poverty, rural development, finance, macroeconomics and growth, infrastructure, environment, trade, and governance-crucial issues for the economic development of client countries. The World Bank research program has four objectives: 1) to support all aspects of the Bank's operations; 2) to improve the Bank's policy advice to its member countries; 3) to broaden the understanding of the development process; and 4) to assist in developing research capacity in the Bank's member countries. During fiscal years 2006, 2007 and 2008, the World Bank invested $32 million annually on research and related activities (including dissemination of research findings), amounting to only 1.2 percent of the overall Bank budget. This includes research expenditures financed by both internal funds (69 percent) and external trust funds (31 percent). The research support budget accounts for 18 percent of Bank-wide research spending. The World Bank's future effectiveness depends on knowledge, and research is a crucial element in the knowledge strategy of the Bank. The Bank does not yet have a strategy and governance framework for knowledge. It needs to revitalize its knowledge base and develop a world class knowledge infrastructure as well as a consistent quality review processes.