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  • MPI Ethno. Forsch.  (12)
  • DNB
  • HeBIS
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  • English  (12)
  • 2015-2019  (12)
  • [Washington, DC, USA] : World Bank Group, Macroeconomics, Trade and Investment Global Practice
  • Graue Literatur  (12)
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  • MPI Ethno. Forsch.  (12)
  • DNB
  • HeBIS
  • MARKK
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  • English  (12)
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  • Graue Literatur  (12)
  • 1
    Online Resource
    Online Resource
    [Washington, DC, USA] : World Bank Group, Macroeconomics, Trade and Investment Global Practice
    Language: English
    Pages: 1 Online-Ressource (circa 54 Seiten) , Illustrationen
    Series Statement: Policy research working paper 9027
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Fattal-Jaef, Roberto N Entry Barriers, Idiosyncratic Distortions, and the Firm-Size Distribution
    Keywords: Graue Literatur
    Abstract: This paper studies the interaction between entry barriers and idiosyncratic distortions in the context of a standard model of firm dynamics. It derives a strategy to infer entry barriers based on the combination of cross-country data on average firm size, cross-country estimates of idiosyncratic distortions, and equilibrium conditions of the theory. It finds sizable entry barriers that correlate positively with income per-capita. The TFP gains from complete reversals of distortions range between 20 and 50 percent. Idiosyncratic distortions are most distortive in low income countries whereas entry barriers are relatively more detrimental in advanced economies. The study also finds that distortions tend to mitigate each other's negative effect on TFP
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  • 2
    Language: English
    Pages: 1 Online-Ressource (circa 24 Seiten) , Illustrationen
    Series Statement: Policy research working paper 8991
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Heine, Dirk Financing Low-Carbon Transitions through Carbon Pricing and Green Bonds
    Keywords: Graue Literatur
    Abstract: To finance the transition to low-carbon economies required to mitigate climate change, countries are increasingly using a combination of carbon pricing and green bonds. This paper studies the reasoning behind such policy mixes and the economic interaction effects that result from these different policy instruments. The paper models these interactions using an inter-temporal model that proposes burden sharing between current and future generations. The issuance of green bonds helps to enable immediate investment in climate change mitigation and adaptation, and the bonds would be repaid by future generations in such a way that those who benefit from reduced future environmental damage share in the burden of financing the mitigation efforts undertaken today. The paper examines the effects of combining green bonds and carbon pricing in a three-phase model and uses a numerical solution procedure that allows for finite-horizon solutions and phase changes. The paper shows that green bonds perform better when they are combined with carbon pricing. The proposed policy option appears to be politically more feasible than a green transition based only on carbon pricing, and it is more prudent for debt sustainability than a green transition that relies overly on green bonds
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  • 3
    Online Resource
    Online Resource
    [Washington, DC, USA] : World Bank Group, Macroeconomics, Trade and Investment Global Practice
    Language: English
    Pages: 1 Online-Ressource (circa 34 Seiten) , Illustrationen
    Series Statement: Policy research working paper 9064
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Woori Lee Third-Country Effects of Regional Trade Agreements: A Firm-Level Analysis
    Keywords: Graue Literatur
    Abstract: Do regional trade agreements negatively impact non-members? This paper revisits this long-standing trade policy question using firm-level data and detailed information on the content of trade agreements. Differently from the conventional view on trade diversion, the analysis identifies a positive spillover effect of regional trade agreements: they increase the probability of export and entry of third-country firms that previously exported to one of the member countries. This spillover effect is driven by deeper trade agreements, as they make member countries more "similar" in terms of the regulatory environment. Indeed, firms exporting regulation-intensive products benefit disproportionately more from deep trade agreements in destination markets, especially if the agreement includes nondiscriminatory provisions and addresses regulatory issues
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  • 4
    Online Resource
    Online Resource
    [Washington, DC, USA] : World Bank Group, Macroeconomics, Trade and Investment Global Practice
    Language: English
    Pages: 1 Online-Ressource (circa 39 Seiten) , Illustrationen
    Series Statement: Policy research working paper 8990
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Kikoni, Edith Fiscal Rules for the Western Balkans
    Keywords: Graue Literatur
    Abstract: Policy toward fiscal rules is an important issue in the countries of the Western Balkans (Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia). According to a rough estimate, the countries with rules (all but North Macedonia) have complied with their debt and overall-deficit rules a little more than half the time. An online survey, conducted for this paper, suggests that public understanding of the rules is limited, which may reduce the political pressure for compliance. To get debt down to prudent levels, Albania and Montenegro will need a strong commitment to complying with their fiscal rules and will often have to do more than their deficit rules require. The following principles should guide future policy toward fiscal rules: more emphasis should be given to ensuring that fiscal rules are widely understood and enjoy the support of a broad range of stakeholders; policy toward the rules should be consistent with accession to the European Union, but the rules should be simpler than the European Union's and the debt limits lower; limits in rules should not be mistaken for targets; and public financial management should be improved to support the implementation of rules
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  • 5
    Online Resource
    Online Resource
    [Washington, DC, USA] : World Bank Group, Macroeconomics, Trade and Investment Global Practice
    Language: English
    Pages: 1 Online-Ressource (circa 42 Seiten) , Illustrationen
    Series Statement: Policy research working paper 9098
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Rocha Nadia Trade And Female Labor Participation: Stylized Facts Using A Global Dataset
    Keywords: Graue Literatur
    Abstract: Using a cross-section of more than 29,000 manufacturing firms in 64 developing and emerging countries from the World Bank's Enterprise Surveys, this paper assesses whether trading firms have a female labor share premium relative to non-trading firms. It focuses on four types of trading firms: exporters, importers, global value chain participants, and foreign firms. The study finds a female labor share premium for all four trading types, controlling for firm output, capital intensity, total factor productivity, and fixed effects. The findings also hold after controlling for differences in relative wages between men and women and excluding traditional export sectors (apparel and electronics) from the sample. The female labor share premium is much higher for production workers compared with non-production workers, implying that women specialize in low-skill production. In line with these findings, the study finds that the female labor share premium for exporters and global value chain participants is highest in low-tech sectors. And female ownership and management expand the female labor share premium for trading firms. Finally, the results suggest that although average wage rates are lower for firms with higher female labor shares, this negative correlation is smaller for trading firms
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  • 6
    Online Resource
    Online Resource
    [Washington, DC, USA] : World Bank Group, Macroeconomics, Trade and Investment Global Practice
    Language: English
    Pages: 1 Online-Ressource (circa 29 Seiten) , Illustrationen
    Series Statement: Policy research working paper 9017
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Tsiropoulos, Vasileios Eurobonds: A Quantitative Analysis of Joint-Liability Debt
    Keywords: Graue Literatur
    Abstract: This paper assesses the consequences of implementing a joint liability debt system in a two-country small open economy model. With joint liability a default of one country makes the other participant liable for its debt. The results highlight a trade-off between the contagion risk, in the sense that this instrument may push some member states to default even though they are individually solvent, and cheaper access to credit on average, since lenders are at risk only if no participating sovereign is willing to service the debt. The findings suggest that the welfare consequences of this policy proposal hinge critically on the timing of its introduction: Introducing such instruments at the peak of the Eurozone crisis would have helped the Periphery and harm the Core member states, while its adoption during normal times has the potential to make all participants better-off
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  • 7
    Online Resource
    Online Resource
    [Washington, DC, USA] : World Bank Group, Macroeconomics, Trade and Investment Global Practice
    Language: English
    Pages: 1 Online-Ressource (circa 42 Seiten) , Illustrationen
    Series Statement: Policy research working paper 8982
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Knight, David Turkey: An Empirical Assessment of the Determinants of the Current Account Balance
    Keywords: Graue Literatur
    Abstract: Turkey has moved rapidly from a current account that was relatively in balance up to the turn of the millennia, to sustaining relatively large current account deficits over the past 15 years. Using annual data from 1986 to 2017 and a jackknife model-averaging estimator, the paper estimates the relationship between the current account balance and a set of determinants that are broadly consistent with the cross-country literature. These determinants include private sector credit, public expenditure, real exchange rate changes, gross domestic product growth relative to the rest of the world, trade openness, international oil prices, foreign direct investment levels, past net foreign assets, inflation volatility, and global levels of uncertainty. The analysis then decomposes the predicted current account balance for five-year periods to illustrate the factors that have driven the current account over time. Over 2003-07, a large current account deficit became established in Turkey, driven by an expansion of credit to households and rapid gross domestic product growth, coupled with improved macroeconomic stability that supported higher spending and therefore imports. Since then, the negative effect of household credit has abated, but was replaced in 2008-17 by an expansion of credit to the corporate sector as a driver of the current account deficit. The current account balance in Turkey is also found to be less persistent than is typically found in the cross-country literature, implying that it adjusts more rapidly in response to shocks
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  • 8
    Online Resource
    Online Resource
    [Washington, DC, USA] : World Bank Group, Macroeconomics, Trade and Investment Global Practice
    Language: English
    Pages: 1 Online-Ressource (circa 26 Seiten) , Illustrationen
    Series Statement: Policy research working paper 9018
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Belinga, Vincent The Moroccan New Keynesian Phillips Curve: A Structural Econometric Analysis
    Keywords: Graue Literatur
    Abstract: The Phillips curve is central to discussions of inflation dynamics and monetary policy. In particular, the New Keynesian Phillips Curve is a valuable tool to describe how past inflation, expected future inflation, and real marginal cost or an output gap drive the current inflation rate. However, economists have had difficulty applying the New Keynesian Phillips Curve to real-world data due to empirical limitations. This paper overcomes these limitations by using an identification-robust estimation method called the Tikhonov Jackknife instrumental variables estimator. Data from Morocco are used to examine the ability of the New Keynesian Phillips Curve to explain Moroccan inflation dynamics. The analysis finds that by adding more information to the hybrid version of the New Keynesian Phillips Curve model by increasing the number of moment conditions, the inflation dynamics in Morocco can be well-described by the New Keynesian Phillips Curve. This framework suggests that the New Keynesian Phillips Curve would be a strong candidate for short-run inflation forecasting
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  • 9
    Language: English
    Pages: 1 Online-Ressource (circa 40 Seiten) , Illustrationen
    Series Statement: Policy research working paper 9021
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Cali, Massimiliano Economic and Distributional Impacts of Free Trade Agreements: The Case of Indonesia
    Keywords: Graue Literatur
    Abstract: As preferential trade agreements are growing in number and depth, assessment of their economic impacts has become more important to inform policy-makers facing a multitude of potential preferential trade agreements. This paper provides novel ex ante estimates of the impacts of two key preferential trade agreements currently negotiated by Indonesia, the largest economy in Southeast Asia. The paper then compares these estimates with those of other preferential trade agreements that Indonesia may negotiate in the future. To that end it, combines a dynamic, multi-country computable general equilibrium model and a microsimulation tool linking the macroeconomic results to household-level welfare. The results suggest that, among the preferential trade agreements considered, the European Union-Indonesia Comprehensive Economic Partnership Agreement (EU-CEPA) is expected to yield the largest gains for Indonesia in income, output, and exports. This result is due to a combination of large expected reductions in trade barriers and a high share of international trade between the partners. These macro effects translate into the highest expected income growth relative to the other preferential trade agreements at every point of the income distribution. However, the gains for the EU-CEPA are proportionately larger for richer households, unlike the other agreements considered. The regressive gains are mainly due to the increase in skill wage premia spurred by the additional demand for skill-intensive sectors, especially services
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  • 10
    Online Resource
    Online Resource
    [Washington, DC, USA] : World Bank Group, Macroeconomics, Trade and Investment Global Practice
    Language: English
    Pages: 1 Online-Ressource (circa 41 Seiten) , Illustrationen
    Series Statement: Policy research working paper 9026
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Hollweg, Claire H Firm Compliance and Public Disclosure in Vietnam
    Keywords: Graue Literatur
    Abstract: Global consumers, international brands, and governments in producing and outsourcing countries aim to improve working conditions in global value chains, but uncertainty exists about what is the best approach. This research uses firm-level data from the International Labour Organization-International Finance Corporation Better Work Vietnam program to assess the relationship between transparency on working conditions and firm compliance in the apparel sector in Vietnam between 2010 and 2018. It exploits a change in the policies of Better Work Vietnam when, in 2015, the program announced the launch of a new public disclosure program that would see factories' names made publicly available along with their compliance (or lack thereof) with certain "critical issues." The paper first examines which firm characteristics correlate with reductions in noncompliance rates over time, and then examines the impact of the public disclosure policy on compliance rates and firm dropout using different empirical techniques. It finds that while continued participation in the Better Work Vietnam program has the strongest effect on changes in firm compliance with labor standards over time, public disclosure is also associated with increased compliance, with stronger effects in some compliance points, including occupational health and safety, work time, and child labor. There is some evidence of increased dropout, but no evidence of firms only making progress on the critical issues is found. The research findings suggest that public disclosure within global value chains matters for firm behavior
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  • 11
    Online Resource
    Online Resource
    [Washington, DC, USA] : World Bank Group, Macroeconomics, Trade and Investment Global Practice
    Language: English
    Pages: 1 Online-Ressource (circa 34 Seiten) , Illustrationen
    Series Statement: Policy research working paper 9050
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Asprilla, Alan Trade Policy and Market Power: Firm-Level Evidence
    Keywords: Graue Literatur
    Abstract: This paper identifies the effect of trade policy on market power through new data and a new identification strategy. It uses a large data set containing export values and quantities by product and destination for all exporting firms in 12 developing and emerging countries over several years, merged with destination-product-specific information on tariffs and non-tariff barriers. Market power is identified by observing how exporting firms price discriminate across markets in reaction to variations in bilateral exchange rates. Pricing-to-market is prevalent in all regions of the sample, even among small firms, although it is increasing in firm size, in accordance with theory. More importantly, the effect of non-tariff measures is not isomorphic to that of tariffs: the observed pricing-to-market behavior suggests that, although tariffs reduce the market power of foreign firms through classic rent-shifting effects, non-tariff measures alter market structure and reinforce the market power of non-exiting firms, domestic and foreign ones alike
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  • 12
    Online Resource
    Online Resource
    [Washington, DC, USA] : World Bank Group, Macroeconomics, Trade and Investment Global Practice
    Language: English
    Pages: 1 Online-Ressource (circa 47 Seiten) , Illustrationen
    Series Statement: Policy research working paper 9082
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Jean-Pierre Chauffour Exiting Financial Repression: The Case of Ethiopia
    Keywords: Graue Literatur
    Abstract: Ethiopia's framework for managing its monetary and foreign exchange policy has relied on some standard instruments of financial repression. Over time, the framework has led to the buildup of large macro-financial imbalances. Exiting financial repression while maintaining macroeconomic stability would require solid control over the macro-financial flows and good anticipation of the immediate financial effects of the reform. The paper presents and quantifies such a gradual liberalization reform scenario of Ethiopia's monetary and foreign exchange system
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