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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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  • 2
    Online Resource
    Online Resource
    Argentina : Trade Patterns and Challenges Ahead (2010)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (22 p)
    Edition: 2010 World Bank eLibrary
    Parallel Title: Anos-Casero, Paloma Argentina
    Abstract: Argentinean export growth was impressive during the recent economic boom (2003-2007). However, decomposing export growth reveals that the extensive margin (increases in exports of existing products to existing markets) dominates, while the intensive margin (increases in exports of new products or new markets) contributes little to export growth. Argentina's trade product concentration has increased in the past 10 years, and the main export products remain overwhelmingly natural-resource intensive. The little diversification of non-primary exports limits the country’s ability to weather a decline in export commodity prices. The country has had some success finding new export markets, especially in Latin America, but should seek to develop deeper trade relationships with high GDP export destinations such as the European Union and the United States. Another challenge going forward is the relatively low sophistication of exports and limited integration into the global production chains, falling behind regional competitors such as Brazil. This calls for policy measures to improve the ability of existing firms to innovate and compete successfully in global markets
    DOI: 10.1596/1813-9450-5221
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 3
    Online Resource
    Online Resource
    Estimating the Import Content of Argentine Exports (2010)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (17 p)
    Edition: 2010 World Bank eLibrary
    Parallel Title: Anos-Casero, Paloma Estimating the Import Content of Argentine Exports
    Abstract: Despite recent efforts toward collecting evidence of vertical specialization for developed economies, scarce work has been dedicated to developing economies and to Argentina, in particular. The key contribution of this paper is to provide comparable estimates of vertical specialization as reflected in the imported content of exports in Argentina. Drawing on the 1997 input-output matrix for Argentina, the authors estimate that the imported content of the country’s exports is about 14.5 percent of total exports, lower than for other emerging economies. They also provide estimates of imported content for more disaggregated product categories
    DOI: 10.1596/1813-9450-5225
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 4
    Online Resource
    Online Resource
    What drives firm productivity growth ? (2009)
    [Washington, D.C] : World Bank
    Details
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4841
    Parallel Title: Anós Casero, Paloma What drives firm productivity growth ?
    Keywords: Industrial productivity ; Industrial productivity
    Abstract: "This paper presents new evidence on the causal links between changes in the business environment and firm productivity growth. It contributes to the literature in three important aspects. First, it constructs a unique database merging information from two large firm-level databases. The samples of both databases are merged on four criteria-country, sub-national location, firm size, and year-producing a panel of 22,004 firms in eight economies of Eastern Europe and the former Soviet Union: Bulgaria, Croatia, Czech Republic, Estonia,, Poland, Romania, Serbia, and Ukraine. Second, the paper addresses shortcomings of earlier studies, namely reverse causation, multicollinearity, and unreliable productivity estimates. Firm productivity growth is estimated drawing on corporate financial data from manufacturing firms included in the AMADEUS database. Changes in the business environment are estimated from the World Bank Enterprise Surveys conducted in 2002 and 2005. Multicollinearity problems in the full model regression are mitigated by constructing a set of six aggregate indicators of the business environment (using principal component analysis). The paper finds that, over the period 2001 to 2004, an increase of one standard deviation in infrastructure quality, financial development, governance, labor market flexibility, labor quality, and market competition raises the total factor productivity of the average firm by 9.8, 7.8, 3.2, 3.4, 5.8, and 3 percent, respectively. Lastly, the paper decomposes firm productivity growth and ranks the relative impact of changes in these six aspects of the business environment by country, by firm size, and by industry. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/8/2009 , Also available in print.
    DOI: 10.1596/1813-9450-4841
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 5
    Online Resource
    Online Resource
    Estimating the Fiscal Multiplier in Argentina (2010)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (17 p)
    Edition: 2010 World Bank eLibrary
    Parallel Title: Trezzi, Riccardo Estimating the Fiscal Multiplier in Argentina
    Abstract: Argentina's government has resorted to fiscal policy as a countercyclical tool to mitigate the negative impact of the current economic downturn on aggregate demand. Empirical results based on a vector error correction model suggest, however, that the fiscal multiplier is relatively small and short-lived. This could reflect a number of factors, including the higher propensity of households to save during the economic downturn, the implementation lag of public expenditures, particularly of capital expenditures, and the narrow tax base that limits the impact of countercyclical revenue measures on domestic demand
    DOI: 10.1596/1813-9450-5220
    URL: Volltext  (Deutschlandweit zugänglich)
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