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  • 1
    Online Resource
    Online Resource
    Fiscal And Social Impact of A Nominal Exchange Rate Devaluation In Djibouti (2006)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (42 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Anos Casero, Paloma Fiscal And Social Impact of A Nominal Exchange Rate Devaluation In Djibouti
    Keywords: Accounting ; Bank Policy ; Currencies and Exchange Rates ; Currency Devaluation ; Debt Markets ; Devaluation ; Developing Countries ; Economic Development ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Exchange ; Exchange Rate ; Expenditures ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal and Monetary Policy ; Foreign Currency ; Goods ; Macroeconomics and Economic Growth ; Poverty Reduction ; Private Sector Development ; Public Sector Development ; Rural Development ; Rural Poverty Reduction ; Accounting ; Bank Policy ; Currencies and Exchange Rates ; Currency Devaluation ; Debt Markets ; Devaluation ; Developing Countries ; Economic Development ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Exchange ; Exchange Rate ; Expenditures ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal and Monetary Policy ; Foreign Currency ; Goods ; Macroeconomics and Economic Growth ; Poverty Reduction ; Private Sector Development ; Public Sector Development ; Rural Development ; Rural Poverty Reduction ; Accounting ; Bank Policy ; Currencies and Exchange Rates ; Currency Devaluation ; Debt Markets ; Devaluation ; Developing Countries ; Economic Development ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Exchange ; Exchange Rate ; Expenditures ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal and Monetary Policy ; Foreign Currency ; Goods ; Macroeconomics and Economic Growth ; Poverty Reduction ; Private Sector Development ; Public Sector Development ; Rural Development ; Rural Poverty Reduction
    Abstract: Limited fiscal space limits Djibouti's ability to meet the Millennium Development Goals and improve the living conditions of its population. Djibouti's fiscal structure is unique in that almost 70 percent of government revenue is denominated in foreign currency (import taxes, foreign aid grants, and military revenue) while over 50 percent of government expenditure is denominated in local currency (wages, salaries, and social transfers). Djibouti's economic structure is also unusual in that merchandise exports of local origin are insignificant, and the country relies heavily on imported goods (food, medicines, consumer and capital goods). A currency devaluation, by reducing real wages, could potentially generate additional fiscal space that would help meet Djibouti's fundamental development goals. Using macroeconomic and household level data, the authors quantify the impact of a devaluation of the nominal exchange rate on fiscal savings, real public sector wages, real income, and poverty under various hypothetical scenarios of exchange-rate pass-through and magnitude of devaluation. They find that a currency devaluation could generate fiscal savings in the short-term, but it would have an adverse effect on poverty and income distribution. A 30 percent nominal exchange rate devaluation could generate fiscal savings amounting between 3 and 7 percent of GDP. At the same time, a 30 percent nominal devaluation could cause nearly a fifth of the poorest households to fall below the extreme poverty line and pull the same fraction of upper middle-income households below the national poverty line. The authors also find that currency devaluation could generate net fiscal savings even after accounting for the additional social transfers needed to compensate the poor for their real income loss. However, the absence of formal social safety nets limits the government's readiness to provide well-targeted and timely social transfers to the poor
    URL: Volltext  (Deutschlandweit zugänglich)
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    MPI Ethno. Forsch.
  • 2
    Online Resource
    Online Resource
    Livelihood Impacts of Refugees on Host Communities : Evidence from Ethiopia (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (31 pages)
    Parallel Title: Erscheint auch als Walelign, Solomon Zena Livelihood Impacts of Refugees on Host Communities: Evidence from Ethiopia
    Keywords: Commercialization ; Communities and Human Settlements ; Displacement Impacts ; Diversification ; Economic Pressure ; Ethiopia Development Response To Displacement Impacts Projec ; Host Communities ; Human Migrations and Resettlements ; Involuntary Resettlement Law ; Labor Markets ; Law and Development ; Livelihood Activities ; Permanent Displacement ; Public Service Access ; Refugee Community ; Refugee Crisis ; Refugees ; Rural Development ; Rural Labor Markets ; Voluntary and Involuntary Resettlement
    Abstract: Most refugee hosting communities are characterized by high levels of poverty with precarious livelihood conditions, low access to public services, and underdeveloped infrastructure. While the unexpected inflow of refugees might bring both constraints and opportunities for improving and maintaining local livelihoods in these communities, the understanding of these effects remains limited. Using a household level micro data set from a 2018 baseline survey of the Ethiopia Development Response to Displacement Impacts Project, this paper assesses the impact of refugee inflow on the livelihood strategies of host communities with respect to diversification and agricultural commercialization. The endogeneity of refugee inflow is addressed by exploiting differences in factors that influence refugee arrival in the host communities. Specifically, the analysis uses potential refugee inflow as an instrument, which is the product of population density and intensity of conflicts (number of fatalities per event) in the closest region of the origin country to the refugee camp weighted by the distance of the refugee camp to the closest region. The paper also constructs an aggregate index to proxy households' livelihood diversification strategies. The findings show that refugee inflow brings substantial benefits to host communities by creating significant jobs, in which people engage as secondary occupations, and triggers an increasing demand for livestock products. Specifically, while no effect was found on diversification of activities such as a primary occupation and crop product sales, a 1 percent increase in refugee inflow leads to a 2.7 percent rise in diversification of livelihood activities as a secondary occupation and a 15.9 percent increase in the value of livestock product sales. These effects tend to be heterogeneous across refugee hosting regions and the gender of the household head: negative effects were mainly observed in Gambella region, which hosts the largest refugee population in the country, and male-headed households were more likely to benefit from the refugee presence for the whole sample. The paper identifies households' increased engagement in different livelihood activities and access to markets as a potential mechanism for the observed effects. The findings add to the growing literature on the socioeconomic impacts of refugee inflow on host communities by showing an overall positive effect on the livelihoods and welfare of receiving communities
    DOI: 10.1596/1813-9450-10044
    URL: lizenzpflichtig
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    Online Resource
    MPI Ethno. Forsch.
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