The world is transitioning out of the crisis phase of the COVID-19 outbreak, aided by immunity from vaccination and prior infection. Multilateral institutions, including the African Union, COVAX, the World Health Organization, and the World Bank, were indispensable in the crisis response, delivering life-saving vaccines, technical assistance, and concessional finance to low- and middle-income countries. Yet, these institutions have been criticized, with arguments that their response was insufficient given the overwhelming need. Drawing on economic analysis conducted throughout
the pandemic, World Bank economist Tristan Reed will assess the merit of this criticism, highlighting successes, misunderstandings, and lessons learned about how multilateral institutions can more effectively respond to future public health emergencies of international concern.
The monthly Policy Research Talks showcase the latest findings of the World Bank’s research department, challenge and contribute to the institution’s intellectual climate, and re-examine conventional wisdom in current development theories and practice. These talks facilitate a dialogue between researchers and operational staff and inform World Bank operations both globally and within partner countries. Read More »