Norman Loayza is a Lead Economist in the Development Economics Research Group at the World Bank. Recently, he was director of the World Development Report 2014, Risk and Opportunity: Managing Risk for Development. His research has dealt with various areas of economic and social development, including macroeconomic management, economic growth, microeconomic flexibility, private and public saving, financial depth and stability, natural disasters, and crime and violence. His advisory experience at the World Bank has also ranged across different topics in various regions and countries. A few examples include business environment and economic performance in Latin America; informal and labor markets in the Middle East and Northern Africa; public infrastructure gaps in Pakistan and Egypt; savings for macroeconomic stability and growth in Sri Lanka, Georgia, and Egypt; and pro-poor growth in Indonesia and Peru. On external service from the World Bank, he was a Senior Economist at the Central Bank of Chile (1999-2000), where he advised on financial and monetary policy. Norman has edited 9 books and published about 40 papers in professional journals and edited volumes. A Peruvian national, he holds a Ph.D. in economics from Harvard University (1994).
In the face of social unrest, economic crises, and more frequent natural disasters, preparation and recovery efforts by governments, communities, and individuals have become increasingly essential. Effective risk management can provide both resilience to withstand adverse events and the ability to take advantage of development opportunities. It is, therefore, a critical ingredient in the fight to end poverty, says a new report from the World Bank Group.