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  • 1
    Online Resource
    Online Resource
    The Political Economy of Direct Dividend Transfers in Resource-Rich Countries : A Theoretical Consideration (2016)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (42 p)
    Series Statement: World Bank E-Library Archive
    Parallel Title: Erscheint auch als McGuirk, Eoin The Political Economy of Direct Dividend Transfers in Resource-Rich Countries : A Theoretical Consideration
    Abstract: The acceleration of natural resource discoveries across many parts of the developing world has highlighted the urgent need for solutions to the mismanagement of windfalls that has blighted many countries over the past half-century. One proposal involves istributing annually a share of resource rents to citizens in the form of direct dividend transfers. Although many scholars and policy makers have discussed the potential economic and political ramifications of the proposal from a normative perspective, few have analyzed positively the conditions under which such a policy may emerge as a politically rational choice. This policy research paper fills that gap by modeling the decision of political leaders to allocate resource revenues between cash transfers, public goods, power-preserving activities, and personal consumption. The analysis finds first that propitious political conditions, including competitive elections, undeveloped patronage networks, and a high degree of budgetary accountability, increase the share of resource revenues to be spent on citizens' welfare. The paper then shows that a high poverty headcount and inefficient public institutions will each strengthen the political incentive to provide direct dividend transfers relative to public goods. This combination of conditions is rare, which may explain why relatively few countries have implemented or plan to implement direct dividend transfers
    DOI: 10.1596/1813-9450-7575
    URL: Volltext  (Deutschlandweit zugänglich)
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    MPI Ethno. Forsch.
  • 2
    Online Resource
    Online Resource
    A Diagnostic Framework for Assessing Public Investment Management (2010)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (26 p)
    Edition: 2010 World Bank eLibrary
    Parallel Title: Le, Tuan Minh A Diagnostic Framework for Assessing Public Investment Management
    Abstract: This paper provides a pragmatic and objective diagnostic approach to the assessment of public investment management systems for governments. Since weaknesses in public investment management can negate the core argument that additional fiscal space allocated to public investments could enhance future economic prospects, attention to the processes that govern public investment selection and management is critical. The paper begins with a description of eight key "must-have" features of a well-functioning public investment system: (1) investment guidance, project development, and preliminary screening; (2) formal project appraisal; (3) independent review of appraisal; (4) project selection and budgeting; (5) project implementation; (6) project adjustment; (7) facility operation; and (8) project evaluation. The emphasis is placed on the basic processes and controls (linked at appropriate stages to broader budget processes) that are likely to yield the greatest assurance of efficiency in public investment decisions. The approach does not seek to identify best practice, but rather to identify the "must have" institutional features that would address major risks and provide an effective systemic process for managing public investments. The authors also develop a diagnostic framework to assess the main stages of the public investment management cycle. In principle, the identification of core weaknesses will allow reforms to focus scarce managerial and technical resources where they will yield the greatest impact. In addition, the framework is intended to motivate governments to undertake periodic self-assessments of their public investment systems and design reforms to enhance the productivity of public investment
    DOI: 10.1596/1813-9450-5397
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 3
    Online Resource
    Online Resource
    Fiscal Policy, Public Expenditure Composition, And Growth Theory And Empirics (2007)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (36 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Semmler, Willi Fiscal Policy, Public Expenditure Composition, And Growth Theory And Empirics
    Keywords: Access to Finance ; Debt ; Debt Markets ; Development Policy ; Development Strategies ; Economic Growth ; Economic Theory and Research ; Finance and Financial Sector Development ; Fiscal Policy ; Growth Models ; Growth Theory ; Human Capital ; Macroeconomics and Economic Growth ; Per Capita Income ; Production Function ; Public Sector Economics and Finance ; Public Sector Expenditure Analysis and Management ; Access to Finance ; Debt ; Debt Markets ; Development Policy ; Development Strategies ; Economic Growth ; Economic Theory and Research ; Finance and Financial Sector Development ; Fiscal Policy ; Growth Models ; Growth Theory ; Human Capital ; Macroeconomics and Economic Growth ; Per Capita Income ; Production Function ; Public Sector Economics and Finance ; Public Sector Expenditure Analysis and Management ; Access to Finance ; Debt ; Debt Markets ; Development Policy ; Development Strategies ; Economic Growth ; Economic Theory and Research ; Finance and Financial Sector Development ; Fiscal Policy ; Growth Models ; Growth Theory ; Human Capital ; Macroeconomics and Economic Growth ; Per Capita Income ; Production Function ; Public Sector Economics and Finance ; Public Sector Expenditure Analysis and Management
    Abstract: This paper responds to the development policy debate involving the World Bank and the IMF on the use of fiscal policy not only for economic stabilization but also to promote economic growth and increase per capita income. A key issue in this debate relates to the effect of the composition of public expenditure on economic growth. Policy makers and some researchers have argued that expenditure on growth-enhancing functions could enhance future revenue and justify the provision of "fiscal space" in the budget. But there are no simple ways to identify the growth-maximizing composition of public expenditure. The current paper lays out a research strategy to explore the effects of fiscal policy, including the composition of public expenditure, on economic growth, using a time series approach. Based on the modeling strategy of Greiner, Semmler and Gong (2005) we develop a general model that features a government that undertakes public expenditure on (a) education and health facilities which enhance human capital, (b) public infrastructure such as roads and bridges necessary for market activity, (c) public administration to support government functions, (d) transfers and public consumption facilities, and (e) debt service. The proposed model is numerically solved, calibrated and the impact of the composition of public expenditure on the long-run per capita income explored for low-, lower-middle- and upper-middle-income countries. Policy implications and practical policy rules are spelled out, the extension to an estimable model indicated, a debt sustainability test proposed, and the out-of-steady-state dynamics studied
    URL: Volltext  (Deutschlandweit zugänglich)
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    MPI Ethno. Forsch.
  • 4
    Online Resource
    Online Resource
    Behavioral Economics and Public Sector Reform : An Accidental Experiment and Lessons from Cameroon (2013)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (23 p)
    Edition: 2013 World Bank eLibrary
    Parallel Title: Raballand, Gaël Behavioral Economics and Public Sector Reform
    Abstract: Starting with the hypothesis that behaviors are the critical (and often overlooked) factor in public sector performance, this paper explores the notion of how behavioral change (and thus institutional change) might be better motivated in the public sector. The basis for this study is "an accidental experiment" resulting from the World Bank's operational engagement in Cameroon. In 2008, World Bank staff successfully concluded preparation on a project to support the Government of Cameroon to improve transparency, efficiency, and accountability of public finance management. The US
    DOI: 10.1596/1813-9450-6595
    URL: Volltext  (Deutschlandweit zugänglich)
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    MPI Ethno. Forsch.
  • 5
    Online Resource
    Online Resource
    How Does the Composition of Public Spending Matter? (2005)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (39 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Paternostro, Stefano How Does the Composition of Public Spending Matter?
    Keywords: Absolute Poverty ; Agricultural Development ; Debt Markets ; Economic Growth ; Finance and Financial Sector Development ; Financial Literacy ; Human Development ; Poor ; Poor Countries ; Poverty ; Poverty Monitoring and Analysis ; Poverty Reduction ; Poverty Reduction ; Poverty Reduction Strategy ; Poverty Reduction Strategy ; Pro-Poor Growth ; Public Sector Economics and Finance ; Public Sector Expenditure Analysis and Management ; Rural Development ; Rural Poverty Reduction ; Absolute Poverty ; Agricultural Development ; Debt Markets ; Economic Growth ; Finance and Financial Sector Development ; Financial Literacy ; Human Development ; Poor ; Poor Countries ; Poverty ; Poverty Monitoring and Analysis ; Poverty Reduction ; Poverty Reduction ; Poverty Reduction Strategy ; Poverty Reduction Strategy ; Pro-Poor Growth ; Public Sector Economics and Finance ; Public Sector Expenditure Analysis and Management ; Rural Development ; Rural Poverty Reduction ; Absolute Poverty ; Agricultural Development ; Debt Markets ; Economic Growth ; Finance and Financial Sector Development ; Financial Literacy ; Human Development ; Poor ; Poor Countries ; Poverty ; Poverty Monitoring and Analysis ; Poverty Reduction ; Poverty Reduction ; Poverty Reduction Strategy ; Poverty Reduction Strategy ; Pro-Poor Growth ; Public Sector Economics and Finance ; Public Sector Expenditure Analysis and Management ; Rural Development ; Rural Poverty Reduction
    Abstract: Public spending has effects which are complex to trace and difficult to quantify. But the composition of public expenditure has become the key instrument by which development agencies seek to promote economic development. In recent years, the development assistance to heavily indebted poor countries (HIPCs) has been made conditional on increased expenditure on categories that are thought to be "pro-poor". This paper responds to the growing concern being expressed about the conceptual foundations and the empirical basis for the belief that poverty can be reduced through targeted public spending. While it is widely accepted that growth and redistribution are important sources of reduction in absolute poverty, a review of the literature confirms the lack of an appropriate theoretical framework for assessing the impact of public spending on growth as well as poverty. There is a need to combine principles of both public economics and growth theory to develop appropriate theoretical guidance for public expenditure policy. This paper identifies a number of approaches that are beginning to address this gap. Building on these approaches, it proposes a framework that has its foundation in a broadly articulated development strategy and its economic goals such as growth, equity, and poverty reduction. It recommends the use of public economics principles to clarify the roles of the private and public sectors and to recognize the complementarity of spending, taxation, and regulatory instruments available to affect public policy. With regard to the impact of any given type of public spending, policy recommendations must be tailored to countries and be based on empirical analysis that takes account of the lags and leads in their effects on equity and growth and ultimately on poverty. The paper sketches out such a framework as the first step in what will have to be a longer-term research agenda to provide theoretically and empirically robust and verifiable guidance to public spending policy
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 6
    Online Resource
    Online Resource
    The power of public investment management : transforming resources into assets for growth (2014)
    Washington, DC : The World Bank
    Details
    ISBN: 9781464803178
    Language: English
    Pages: Online-Ressource
    Edition: 2014 World Bank eLibrary
    Series Statement: Directions in development series
    Series Statement: Directions in Development
    Series Statement: Directions in Development - Public Sector Governance
    DDC: 332.67/252
    Keywords: Public investments ; Public investments ; Public investments
    Note: Includes bibliographical references and index
    DOI: 10.1596/978-1-4648-0316-1
    URL: Volltext  (Deutschlandweit zugänglich)
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