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  • 1
    Online Resource
    Online Resource
    A Note on the Simple Algebra of the Shared Prosperity Indicator (2013)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (17 p)
    Edition: 2013 World Bank eLibrary
    Parallel Title: Rosenblatt, David A Note on the Simple Algebra of the Shared Prosperity Indicator
    Abstract: One of the two goals of the World Bank Group's new strategy is to promote shared prosperity, defined as the income growth of the bottom 40 percent of the population. The simple monitoring indicator then is the income per capita of the bottom 40 percent of the population. The growth of this indicator can be decomposed into two components: the change in the share of total income accruing to the bottom 40 percent and the growth of the average income of the total population. This paper presents: (i) a brief discussion of the properties of the indicator; (ii) the simple decomposition in algebraic form; (iii) a graphical method for displaying the combinations of the two components of the decomposition; (iv) simulations of the decomposition for hypothetical countries; and (v) some illustrative data
    DOI: 10.1596/1813-9450-6645
    URL: Volltext  (Deutschlandweit zugänglich)
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    MPI Ethno. Forsch.
  • 2
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    Online Resource
    The Credibility of Economic Policy Making in Argentina, 1989-2015 (2016)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (48 p)
    Series Statement: World Bank E-Library Archive
    Parallel Title: Erscheint auch als Rosenblatt, David The Credibility of Economic Policy Making in Argentina, 1989-2015
    Abstract: This paper explores the hypothesis that the credibility of economic policy making in Argentina (or lack thereof) has impacted the volatility of economic performance. To establish the link, a historical review of economic policy making and economic outcomes over the quarter century is presented, informed by a survey of the literature on credibility and the political economy of reforms. A more fundamental question is why policy shifts are so frequent, and this necessarily relates to the political institutions underlying policy making. A recent literature on citizen engagement and accountability, combined with international experience, is then used to consider policy options that could help reestablish credibility during the new administration
    DOI: 10.1596/1813-9450-7870
    URL: Volltext  (Deutschlandweit zugänglich)
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    MPI Ethno. Forsch.
  • 3
    Online Resource
    Online Resource
    Middle-Income Traps : A Conceptual and Empirical Survey (2013)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (40 p)
    Edition: 2013 World Bank eLibrary
    Parallel Title: Im, Fernando Gabriel Middle-Income Traps
    Abstract: In recent years, the term "middle-income trap" has entered common parlance in the development policy community. The term itself often has not been precisely defined in the incipient literature. This paper discusses in more detail definitional issues on the so-called middle-income trap. The paper presents evidence in terms of both absolute and relative thresholds. To get a better understanding of whether the performance of the middle-income trap has been different from other income categories, the paper examines historical transition phases in the inter-country distribution of income based on previous work in the literature. Transition matrix analysis provides little support for the idea of a middle-income trap. Analysis of cross-country patterns of growth provides additional support for the conclusions in the paper, which closes with a general discussion of potential policy implications
    DOI: 10.1596/1813-9450-6594
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 4
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    Online Resource
    Regional Economic Growth in Mexico : Recent Evolution and The Role of Governance (2010)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (24 p)
    Edition: 2010 World Bank eLibrary
    Parallel Title: Weiss, Eli Regional Economic Growth in Mexico
    Abstract: There has been substantial research in recent years examining the regional evolution of economic growth across states in Mexico - with a particular focus on the post North American Free Trade Agreement period. There is also a vast literature using cross-country regressions to examine institutional determinants of economic growth, including government transparency, or "corruption," as a key institutional variable. This paper uses more recently available data for Mexican states to both update the general state convergence/divergence literature, and incorporate into the analysis more recently developed state level indicators of institutional factors related to government transparency. The authors do not find a systematic relationship between measures of government transparency and gross domestic product per capita growth in Mexico during 2001-2005; however, they do find that corruption is negatively associated with the level of state gross domestic product per capita. The contrasting results may imply that more years of data are necessary to be able to establish statistically significant relationships between state growth rates and measures of corruption
    DOI: 10.1596/1813-9450-5369
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 5
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    Online Resource
    Shifting Patterns of Economic Growth and Rethinking Development (2012)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (55 p)
    Edition: 2012 World Bank eLibrary
    Parallel Title: Justin Yifu Lin Shifting Patterns of Economic Growth and Rethinking Development
    Abstract: This paper provides an historical overview of both the evolution of the economic performance of the developing world and the evolution of economic thought on development policy. The 20th century was broadly characterized by divergence between high-income countries and the developing world, with only a limited number (less than 10 percent of the economies in the world) managing to progress out of lower or middle-income status to high-income status. The last decade witnessed a sharp reversal from a pattern of divergence to convergence-particularly for a set of large middle-income countries. The latter phenomenon was also driven by increasing economic ties among developing countries, and on the intellectual scale, increased knowledge generation and sharing among the developing countries. Re-thinking development policy implies confronting these realities: 20th century economic divergence, the experience of the handful of success stories, and the recent rise of the multi-polar growth world. The paper provides descriptive data and a literature survey to document these trends. The paper also provides a brief survey of the role of multilateral institutions-in particular, the World Bank-in this changing context and offers suggestions on how they can adapt their strategies to improve development outcomes
    DOI: 10.1596/1813-9450-6040
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 6
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    Reform of the International Monetary System : A Jagged History and Uncertain Prospects (2012)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (62 p)
    Edition: 2012 World Bank eLibrary
    Parallel Title: Justin Yifu Lin Reform of the International Monetary System
    Abstract: This paper analyzes the historical evolution of the international monetary system in the context of the rising role of developing countries in the world economy and the emerging multi-polar growth setting. It evaluates the stability of the current "non-system" and how the global economic context is likely to affect that stability in the coming years with potential adverse effects on both advanced and developing economies. Given the likely trend toward a multi-polar reserve currency system, the paper evaluates the stability of the emerging system, as well as the current proposals for reform of the international monetary system. The paper concludes that more ambitious reforms of the system may be needed to meaningfully reduce future global economic and financial instability
    DOI: 10.1596/1813-9450-6070
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 7
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    Online Resource
    Should Emerging Markets Worry about U.S. Monetary Policy Announcements? (2017)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (39 p)
    Series Statement: World Bank E-Library Archive
    Parallel Title: Erscheint auch als Gupta, Poonam Should Emerging Markets Worry about U.S. Monetary Policy Announcements?
    Abstract: This paper analyzes the spillover effects of U.S. monetary policy announcements on emerging market economies since end-2008, the period coinciding with the use of unconventional policy measures. Monetary policy surprises are measured by changes in two-year Treasury yields in short windows of time around the Federal Reserve Board's policy announcements. The analysis finds that U.S. monetary policy surprises have a significant impact on emerging economies' exchange rates, equity prices, and bond yields. The impact is larger for surprise tightening of policy than for surprise easing. The impact is disproportionately larger for large surprises, implying that emerging markets are relatively insulated from anticipated policy announcements. The spillover effects of policy announcements of other advanced economies, such as the euro area, Japan, and United Kingdom, are found to be much weaker than those of the United States
    DOI: 10.1596/1813-9450-8100
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 8
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    Online Resource
    Stabilizing Intergovernmental Transfers in Latin America : A Complement to National/Subnational Fiscal Rules? (2002)
    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: Gonzalez, Y. Christian Stabilizing Intergovernmental Transfers in Latin America
    Keywords: Access To Capital ; Bank Policy ; Banks and Banking Reform ; Business Cycle ; Capital Accounts ; Capital Flows ; Capital Markets ; Consumption Smoothing ; Contingent Liability ; Debt Markets ; Developing Countries ; Developing Country ; Finance and Financial Sector Development ; Financial Literacy ; Intergovernmental Fiscal ; Municipal Financial Management ; Public Sector Economics and Finance ; Public and Municipal Finance ; Urban Development ; Urban Economics ; Access To Capital ; Bank Policy ; Banks and Banking Reform ; Business Cycle ; Capital Accounts ; Capital Flows ; Capital Markets ; Consumption Smoothing ; Contingent Liability ; Debt Markets ; Developing Countries ; Developing Country ; Finance and Financial Sector Development ; Financial Literacy ; Intergovernmental Fiscal ; Municipal Financial Management ; Public Sector Economics and Finance ; Public and Municipal Finance ; Urban Development ; Urban Economics ; Access To Capital ; Bank Policy ; Banks and Banking Reform ; Business Cycle ; Capital Accounts ; Capital Flows ; Capital Markets ; Consumption Smoothing ; Contingent Liability ; Debt Markets ; Developing Countries ; Developing Country ; Finance and Financial Sector Development ; Financial Literacy ; Intergovernmental Fiscal ; Municipal Financial Management ; Public Sector Economics and Finance ; Public and Municipal Finance ; Urban Development ; Urban Economics
    Abstract: The traditional theory of fiscal federalism assigns the role of macroeconomic stabilization to the federal government. In addition to this long-standing theoretical result, there is empirical observation that federal governments in developing countries typically have cheaper and more stable access to capital markets, relative to subnational governments. Drawing on the recent experience of four large federal countries in Latin America—Argentina, Brazil, Colombia, and Mexico—Gonzalez, Rosenblatt, and Webb examine how intergovernmental transfers affect the division of the burden of stabilization across the levels of government, when the nation as a whole faces economic fluctuations. Imposing stabilizing rules on federal transfers that protect subnational governments from fluctuations in the business cycle can serve two purposes. During boom periods, stabilizing rules prevent subnational governments' tendency to increase inflexible expenditures. And during downturns, stabilizing rules place the burden of borrowing at the federal level—the level most appropriate for macroeconomic stabilization and often the level with superior access to credit. Despite the logic of these rules, recent experience of the four countries reveals that these rules can be risky, particularly in the face of high GDP volatility. Protection against falling revenues in the downturn constitutes a contingent liability for the central government. Argentina's stabilizing rule contributed to fiscal and political tensions during its ongoing crisis. Colombia is beginning to implement similar rules. Meanwhile, Brazilian and Mexican transfers do not implement such rules and fiscal and economic results do not appear to have fared any worse for this absence. The authors draw on the country experience to establish that certain conditions should be in place before establishing a stabilization rule to federal-to-subnational fiscal transfers—in particular the elimination of long-term structural fiscal imbalances, either within levels of government or across levels of government. This paper—a joint product of the Office of the Senior Vice President and Chief Economist, Development Economics, and the Mexico, Colombia, and Venezuela Country Department, Latin America and the Caribbean Region—is part of a larger effort in the Bank to draw on lessons from cross-country experience on fiscal federalism. The authors may be contacted at cgonzalezworldbank.org, drosenblatt@worldbank.org, or swebb@worldbank.org
    URL: Volltext  (Deutschlandweit zugänglich)
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