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Youth Employment Programs - Independent Evaluation Group

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• the substitution effect of better skilled individuals at the expense ofless qualified youth;• general equilibrium effect with more skilled workers in the labor marketcausing the employment of all individuals to increase;• the poverty and crime impact of unemployment;• social cohesion effects; and• cost-effectiveness and the fiscal impact of youth employment interventions.This evaluation should be seen as only a selective assessment of the WorldBank <strong>Group</strong>’s engagement in youth employment issues. The next two sectionswill focus on two questions:• What is the evidence that the Bank and IFC support priority countryneeds in youth employment?• What is the evidence regarding the effectiveness of this support?Notes1. With the exception of one Tunisia report from 2004.2. Data are not available for Sri Lanka, Tanzania, and Zambia.3. These projects sought to provide: (i) opportunities to youth through thetargeting and scaling up of existing youth enterprise development initiatives;(ii) capacity building grants, and; (iii) loan guarantees and technical assistanceto financial institutions and business development services providers who, inturn, support business training and mentoring to informal/young rural microentrepreneurs.4. Since the first education investment in 1987, to date IFC invested in 73education sector projects, committing over $600million through loan, equity andguarantee facilities.ReferencesAttanasio, Orazio, Adriana Kugler, and Costas Meghir. 2011. “Subsidizing VocationalTraining for Disadvantaged <strong>Youth</strong> in Colombia: Evidence from a RandomizedTrial.” American Economic Journal: Applied Economics 3(3): 188–220.Begg, David, Stanley Fischer, and Rudiger Dornbusch. 2000. “Economics.” New York:The McGraw-Hill Companies.Biagi, Federico, and Claudio Lucifora. 2008. “Demographic and education effects onunemployment in Europe.” Labour Economics 15:1076–1101.Gustman, Alan, and Thomas Steinmeier. 1988. “A model for analyzing youth labormarket policies.” Journal of Labor Economics 6(3): 376–396.22 <strong>Youth</strong> <strong>Employment</strong> <strong>Programs</strong>

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