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  • 1
    Online Resource
    Online Resource
    Resource misallocation and productivity gaps in Malaysia (2018)
    Washington, D.C. : World Bank Group, Development Research Group, Macroeconomics and Growth Team
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 38 Seiten) , Illustrationen
    Series Statement: Policy research working paper 8368
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Chuah, Lay Lian Resource Misallocation and Productivity Gaps in Malaysia
    Keywords: Produktivitätsentwicklung ; Allokation ; Effizienz ; Wirtschaftswachstum ; Malaysia ; Graue Literatur
    Abstract: The reallocation of resources from low- to high-productivity firms can generate large aggregate productivity gains. The paper uses data from the Malaysian manufacturing census to measure the country's hypothetical productivity gains when moving toward the level of within-sector allocative efficiency in the United States to be between 13 and 36 percent. Across three census periods in 2000, 2005, and 2010 (the most recent available), the productivity gaps appear to have somewhat widened. This suggests that the "catching-up" process remains a challenge and a potential opportunity, particularly if total factor productivity is expected to be the dominant source of future economic growth. The simulations, based on different magnitudes of the realization of hypothetical productivity gains, show that Malaysia's gross domestic product growth can potentially increase by 0.4 to 1.3 percentage points per year over five years. The analysis accounts only for resource misallocation within sectors. There may be other, possibly large, resource misallocation across sectors. If so, closing those gaps could boost total factor productivity and gross domestic product growth even further
    DOI: 10.1596/1813-9450-8368
    URL: Volltext  (Deutschlandweit zugänglich)
    URL: Deutschlandweit zugänglich
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    MPI Ethno. Forsch.
  • 2
    Online Resource
    Online Resource
    Toward successful development policies : insights from research in development economics (2020)
    [Washington, DC, USA] : World Bank Group, Development Economics Vice Presidency, Development Research Group
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 45 Seiten) , Illustrationen
    Series Statement: Policy research working paper 9133
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Erhan Artuc Toward Successful Development Policies: Insights from Research in Development Economics
    Keywords: Graue Literatur
    Abstract: What major insights have emerged from development economics in the past decade, and how do they matter for the World Bank? This challenging question was recently posed by World Bank Group President David Malpass to the staff of the Development Research Group. This paper assembles a set of 13 short, nontechnical briefing notes prepared in response to this request, summarizing a selection of major insights in development economics in the past decade. The notes synthesize evidence from recent research on how policies should be designed, implemented, and evaluated, and provide illustrations of what works and what does not in selected policy areas
    DOI: 10.1596/1813-9450-9133
    URL: lizenzpflichtig
    URL: Deutschlandweit zugänglich
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  • 3
    Online Resource
    Online Resource
    Malaysia's economic growth and transition to high income : an application of the World Bank Long Term Growth Model (LTGM) (2020)
    [Washington, DC, USA] : World Bank Group, Development Economics, Development Research Group
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 42 Seiten) , Illustrationen
    Series Statement: Policy research working paper 9278
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Devadas, Sharmila Malaysia's Economic Growth and Transition to High Income: An Application of the World Bank Long Term Growth Model (LTGM)
    Keywords: Graue Literatur
    Abstract: This paper studies economic growth in Malaysia, with the purpose of assessing the potential to attain the status and characteristics of a high-income country. Future economic growth is simulated under a business-as-usual baseline, where the growth drivers follow their historical or recent trends, and under different scenarios of reform, using the World Bank Long-Term Growth Model (LTGM). Under the business-as-usual baseline, Malaysia's GDP growth is expected to decline from 4.5 to 2.0 percent over the next three decades, following the country's transition to high income in 2024 (which might be delayed due to the effects of COVID-19). This decline is partly due to demographics, but also a declining marginal product of private capital and slowing growth rates of total factor productivity and human capital. Strong reforms are required for Malaysia to grow beyond what is expected based on historical trends, especially for human capital, female labor force participation, and total factor productivity. In the strong reform scenario, based on growth drivers achieving a target corresponding to the 75th percentile of high-income countries, GDP growth is expected to have a substantially higher trajectory, reaching 3.6 percent by 2050
    DOI: 10.1596/1813-9450-9278
    URL: lizenzpflichtig
    URL: Deutschlandweit zugänglich
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  • 4
    Online Resource
    Online Resource
    Productivity loss and misallocation of resources in Southeast Asia (2020)
    [Washington, DC, USA] : World Bank Group, Office of the Chief Economist, East Asia and the Pacific Region, Development Research Group
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 22 Seiten) , Illustrationen
    Series Statement: Policy research working paper 9483
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als de Nicola, Francesca Productivity Loss and Misallocation of Resources in Southeast Asia
    Keywords: Productivity ; Distortions ; Resource Misallocation ; Graue Literatur
    Abstract: This paper examines within-sector resource misallocation in three Southeast Asian countries - Indonesia, Malaysia, and Vietnam. The methodology accounts for measurement error in revenues and costs. The firm-level evidence suggests that measurement error is substantial, resulting in an overestimation of misallocation by as much as 30 percent. Nevertheless, resource misallocation across firms within a sector remains large, albeit declining. The findings imply that there are considerable potential gains from efficient reallocation - above 80 percent for Indonesia and around 20 to 30 percent for Malaysia and Vietnam. Private domestic firms and firms with higher productivity appear to face larger distortions that prevent them from expanding
    DOI: 10.1596/1813-9450-9483
    URL: lizenzpflichtig
    URL: Deutschlandweit zugänglich
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  • 5
    Online Resource
    Online Resource
    Productivity growth : patterns and determinants across the world (2019)
    Washington, DC, USA : World Bank Group, Development Economics, Development Research Group
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 71 Seiten) , Illustrationen
    Series Statement: Policy research working paper 8852
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Kim, Young Eun Productivity Growth: Patterns and Determinants Across the World
    Keywords: Graue Literatur
    Abstract: This is the background paper for the productivity extension of the World Bank's Long-Term Growth Model (LTGM). Based on an extensive literature review, the paper identifies the main determinants of economic productivity as innovation, education, market efficiency, infrastructure, and institutions. Based on underlying proxies, the paper constructs indexes representing each of the main categories of productivity determinants and, combining them through principal component analysis, obtains an overall determinant index. This is done for every year in the three decades spanning 1985-2015 and for more than 100 countries. In parallel, the paper presents a measure of total factor productivity (TFP), largely obtained from the Penn World Table, and assesses the pattern of productivity growth across regions and income groups over the same sample. The paper then examines the relationship between the measures of TFP and its determinants. The variance of productivity growth is decomposed into the share explained by each of its main determinants, and the relationship between productivity growth and the overall determinant index is identified. The variance decomposition results show that the highest contributor among the determinants to the variance in TFP growth is market efficiency for Organisation for Economic Co-operation and Development countries and education for developing countries in the most recent decade. The regression results indicate that, controlling for country- and time-specific effects, TFP growth has a positive and significant relationship with the proposed TFP determinant index and a negative relationship with initial TFP. This relationship is then used to provide a set of simulations on the potential path of TFP growth if certain improvements on TFP determinants are achieved. The paper presents and discusses some of these simulations for groups of countries by geographic region and income level. An accompanying Excel-based toolkit, linked to the LTGM, provides a larger set of simulations and scenario analysis at the country level for the next few decades
    DOI: 10.1596/1813-9450-8852
    URL: Volltext  (lizenzpflichtig)
    URL: Deutschlandweit zugänglich
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  • 6
    Online Resource
    Online Resource
    International benchmarking for country economic diagnostics : a stochastic frontier approach (2020)
    [Washington, DC, USA] : World Bank Group, Development Economics, Development Research Group
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 41 Seiten) , Illustrationen
    Series Statement: Policy research working paper 9304
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Kumbhakar, Subal C International Benchmarking for Country Economic Diagnostics: A Stochastic Frontier Approach
    Keywords: Graue Literatur
    Abstract: This paper discusses and illustrates the analytical foundations of international comparisons (or benchmarking) for assessing a country's potential for improvement along various dimensions of social and economic development. By providing a methodology for international benchmarking, discussing various alternatives and choices, and presenting a cross-country illustration, the paper can help practitioners be less arbitrary and more systematic in their approach to international comparisons, as well as more realistic in their expectations for a country's improvement. The paper presents the stochastic frontier approach and applies it to estimate feasible frontiers or benchmarks for each variable, country, and year. It then interprets a country's (one-sided) departure from the benchmark as inefficiency or potential for improvement. This contrasts with the literature that compares countries by looking at raw variables or indicators, without considering that countries differ in structural endowments that constrain the maximum performance that a country could achieve in a policy-relevant horizon. The Stochastic Frontier approach also improves upon the literature that uses regression residuals to measure performance. Regression residuals are hard to interpret as inefficiency, because they are mixed with noise and take positive and negative values. As an illustration, the paper uses a panel of 142 countries with yearly data for 2005-14 and considers a set of 10 development indicators. It finds that the potential for improvement does not follow a simple relationship with economic development, with some lower-income countries being closer to their own feasible frontier than more advanced countries are
    DOI: 10.1596/1813-9450-9304
    URL: lizenzpflichtig
    URL: Deutschlandweit zugänglich
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  • 7
    Online Resource
    Online Resource
    Growth after war in Syria (2019)
    Washington, DC, USA : World Bank Group, Development Economics, Development Research Group
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 47 Seiten) , Illustrationen
    Series Statement: Policy research working paper 8967
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Devadas, Sharmila Growth after War in Syria
    Keywords: Graue Literatur
    Abstract: This paper addresses three questions: 1) what would have been the growth and income trajectory of Syria in the absence of war; 2) given the war, what explains the reduction in economic growth in terms physical capital, labor force, human capital, and productivity; and 3) what potential growth scenarios for Syria there could be in the aftermath of war. Estimates of the impact of conflict point to negative gross domestic product (GDP) growth of -12 percent on average over 2011-18, resulting in a GDP contraction to about one-third of the 2010 level. In post-conflict simulation scenarios, the growth drivers are affected by the assumed levels of reconstruction assistance, repatriation of refugees, and productivity improvements associated with three plausible political settlement outcomes: a baseline (Sochi-plus) moderate scenario, an optimistic (robust political settlement) scenario, and a pessimistic (de facto balance of power) scenario. Respectively for these scenarios, GDP per capita average growth in the next two decades is projected to be 6.1, 8.2, or 3.1 percent, assuming that a final and stable resolution of the conflict is achieved
    DOI: 10.1596/1813-9450-8967
    URL: lizenzpflichtig
    URL: Deutschlandweit zugänglich
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  • 8
    Online Resource
    Online Resource
    Macroeconomic Policy in the Time of COVID-19 : A Primer for Developing Countries (2020)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy Notes
    Abstract: COVID-19 not only represents a worldwide public health emergency but has become an international economic crisis that could surpass the global financial crisis of 2008-09. Right now, containment and mitigation measures are necessary to limit the spread of the virus and save lives. However, they come at a cost, as shutdowns imply reducing economic activity. These human and economic costs are likely to be larger for developing countries, which generally have lower health care capacity, larger informal sectors, shallower financial markets, less fiscal space, and poorer governance. Policy makers will need to weigh carefully the effectiveness and socioeconomic consequences of containment and mitigation policies, responding to epidemiological evidence on how the virus spreads and trying to avoid unintended consequences. Economic policy in the short term should be focused on providing emergency relief to vulnerable populations and affected businesses. The short-term goal is not to stimulate the economy-which is impossible, given the supply-restricting containment measures, but rather to avoid mass layoffs and bankruptcies. In the medium term, macroeconomic policy should turn to recovery measures, which typically involve monetary and fiscal stimulus. However, in many developing countries, stimulus may be less effective because monetary transmission is weak and fiscal space and fiscal multipliers are often small. A more viable goal for macroeconomic policy in developing countries is avoiding procyclicality, ensuring the continuity of public services for the economy, and supporting the vulnerable. Because COVID-19 is truly a global shock, international coordination is essential, in economic policy,health care and science, and containment and mitigation efforts. Critical times call for well-designed government action and effective public service delivery-preserving, rather than ignoring, the practices for macroeconomic stability and proper governance that serve in good and bad times
    DOI: 10.1596/33540
    URL: Deutschlandweit zugänglich
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  • 9
    Online Resource
    Online Resource
    Natural Disasters and Growth : Going Beyond the Averages (2009)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (42 p)
    Edition: 2009 World Bank eLibrary
    Parallel Title: Loayza, Norman Natural Disasters and Growth
    Abstract: There has been a steady increase in the occurrence of natural disasters. Yet their effect on economic growth remains unclear, with some studies reporting negative, and others indicating no, or even positive effects. These seemingly contradictory findings can be reconciled by exploring the effects of natural disasters on growth separately by disaster and economic sector. This is consistent with the insights from traditional models of economic growth, where production depends on total factor productivity, the provision of intermediate outputs, and the capital-labor ratio, as well as the existence of important intersector linkages. Applying a dynamic Generalized Method of Moments panel estimator to a 1961-2005 cross-country panel, three major insights emerge. First, disasters affect economic growth - but not always negatively, and differently across disasters and economic sectors. Second, although moderate disasters can have a positive growth effect in some sectors, severe disasters do not. Third, growth in developing countries is more sensitive to natural disasters - more sectors are affected and the magnitudes are non-trivial
    DOI: 10.1596/1813-9450-4980
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 10
    Online Resource
    Online Resource
    Financial Development, Growth, and Crisis : Is There a Trade-Off? (2017)
    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 Loayza, Norman Financial Development, Growth, and Crisis: Is There a Trade-Off?
    Abstract: This paper reviews the evolving literature that links financial development, financial crises, and economic growth in the past 20 years. The initial disconnect-with one literature focusing on the effect of financial deepening on long-run growth and another studying its impact on volatility and crisis-has given way to a more nuanced approach that analyzes the two phenomena in an integrated framework. The main finding of this literature is that financial deepening leads to a trade-off between higher economic growth and higher crisis risk; and its main conclusion is that, for at least middle-income countries, the positive growth effects outweigh the negative crisis risk impact. This balanced view has been revisited recently for advanced economies, where an emerging and controversial literature supports the notion of "too much finance", suggesting that there might be a threshold beyond which financial depth becomes detrimental for economic growth by crowding out other productive activities and misallocating resources. Nevertheless, the growth/crisis trade-off is alive and strong for a large share of the world economy. Recognizing the intrinsic trade-offs of financial development can provide a useful framework to design policies targeting financial deepening, diversity, and inclusion. In particular, acknowledging the trade-offs can highlight the need for complementary policies to mitigate the risks, from financial macroprudential policies to monetary policy frameworks that monitor the growth of credit and asset prices
    DOI: 10.1596/1813-9450-8237
    URL: Volltext  (Deutschlandweit zugänglich)
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