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  • 101
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4901
    Parallel Title: Available in another form Sea-level rise and storm surges
    Keywords: Global warming ; Natural disasters ; Storm surges ; Global warming ; Natural disasters ; Storm surges
    Abstract: "An increase in sea surface temperature is evident at all latitudes and in all oceans. The current understanding is that ocean warming plays a major role in intensified cyclone activity and heightened storm surges. The vulnerability of coastlines to intensified storm surges can be ascertained by overlaying Geographic Information System information with data on land, population density, agriculture, urban extent, major cities, wetlands, and gross domestic product for inundation zones likely to experience more intense storms and a 1 meter sea-level rise. The results show severe impacts are likely to be limited to a relatively small number of countries and a cluster of large cities at the low end of the international income distribution. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/7/2009 , Also available in print.
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  • 102
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4904
    Parallel Title: Beegle, Kathleen Frame-of-reference bias in subjective welfare regressions
    Keywords: Household surveys ; Household surveys
    Abstract: "Past research has found that subjective questions about an individuals' economic status do not correspond closely to measures of economic welfare based on household income or consumption. Survey respondents undoubtedly hold diverse ideas about what it means to be "poor" or "rich." Further, this heterogeneity may be correlated with other characteristics, including welfare, leading to frame-of-reference bias. To test for this bias, vignettes were added to a nationally representative survey of Tajikistan, in which survey respondents rank the economic status of the theoretical vignette households, as well as their own. The vignette rankings are used to reveal the respondent's own scale. The findings indicate that respondents hold diverse scales in assessing their welfare, but that there is little bias in either the economic gradient of subjective welfare or most other coefficients on covariates of interest. These results provide a firmer foundation for standard survey methods and regression specifications for subjective welfare data. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/7/2009 , Also available in print.
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  • 103
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4909
    Parallel Title: Yamauchi, Futoshi Risks, ex-ante actions and public assistance
    Keywords: Education ; Human capital ; Natural disasters ; Education ; Human capital ; Natural disasters
    Abstract: "This paper examines the impacts of natural disasters on schooling investments with special focus on the roles of ex-ante actions and ex-post responses using panel data from Bangladesh, Ethiopia, and Malawi. The importance of ex-ante actions depends on disaster risks and the likelihood of public assistance, which potentially creates substitution between the two actions. The findings show that higher future probabilities of disasters increase the likelihood of holding more human capital and/or livestock relative to land, and this asset-portfolio effect is significant in disaster prone areas. The empirical results support the roles of both ex-ante and ex-post responses (public assistance) in coping with disasters, but also show interesting variations across countries. In Ethiopia, public assistance plays a more important role than ex-ante actions to mitigate the impact of shocks on child schooling. In contrast, households in Malawi rely more on private ex-ante actions than public assistance. The Bangladesh example shows active roles of both ex-ante and ex-post actions. These observations are consistent with the finding on the relationship between ex-ante actions and disaster risks. The results also show that among ex-ante actions, human capital accumulated in the household prior to disasters helps mitigate the negative effects of disasters in both the short and long runs. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/7/2009 , Also available in print.
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  • 104
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4911
    Parallel Title: Abe, Kazutomo Weathering the storm
    Keywords: Harbors ; Harbors
    Abstract: "The world economic crisis of 2008 presents clear challenges to prospects for economic growth in developing countries. This is particularly true for emerging economies in East Asia that have relied to a great extent over the past decade on export-led growth. What steps to facilitate trade promise a relatively strong return on investment for East Asia to help sustain trade and growth? The authors examine how port infrastructure affects trade and the role of transport costs in driving exports and imports for the region. They find that port congestion has significantly increased the transport costs to East Asia from both of the United States and Japan. The analysis suggests that cutting port congestion by 10 percent could cut transport costs in East Asia by up to 3 percent. This translates into a 0.3 to 0.5 percent across-the-board tariff cut. In addition, the estimates suggest that the trade cost reduction of investment in port infrastructure in East Asia that translates into higher consumer welfare would far outweigh the cost for physical expansion of the ports in the region. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/7/2009 , Also available in print.
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  • 105
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4914
    Parallel Title: Calderón, César Infrastructure and growth in Africa
    Keywords: Infrastructure (Economics) ; Infrastructure (Economics)
    Abstract: "The goal of the paper is to provide a comprehensive assessment of the impact of infrastructure development on growth in African countries. Based on econometric estimates for a sample of 136 countries from 1960-2005, the authors evaluate the impact on per capita growth of faster accumulation of infrastructure stocks and of enhancement in the quality of infrastructure services for 39 African countries in three key infrastructure sectors: telecommunications, electricity, and roads. Using an econometric technique suitable for dynamic panel data models and likely endogenous regressors, the authors find that infrastructure stocks and service quality boost economic growth. The growth payoff of reaching the infrastructure development of the African leader (Mauritius) is 1.1 percent of GDP per year in North Africa and 2.3 percent in Sub-Saharan Africa, with most of the contribution coming from more, rather than better, infrastructure. Across Africa, infrastructure contributed 99 basis points to per capita economic growth, versus 68 points for other structural policies. Most of the contribution came from increases in stocks (89 basis points), versus quality improvements (10 basis points). The findings show that growth is positively affected by the volume of infrastructure stocks and the quality of infrastructure services; simulations show that our empirical findings are significant statistically and economically. Identifying areas of opportunity to generate productivity growth, the authors find that African countries are likely to gain more from larger stocks of infrastructure than from enhancements in the quality of existing infrastructure. The payoffs are largest for telephone density, electricity-generating capacity, road-network length, and road quality. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/7/2009 , Also available in print.
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  • 106
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4917
    Parallel Title: Borchert, Ingo The crisis-resilience of services trade
    Keywords: Service industries ; Service industries
    Abstract: "Much attention has focused on the impact of the current crisis on goods trade; hardly any on its impact on services trade. Using new trade data from the United States, and more aggregate data from other OECD countries, the authors show that services trade is weathering the current crisis much better than goods trade. As of February 2009, the value of US goods imports had declined year-on-year by 33 percent and the value of goods exports by 21 percent; services imports and exports each had declined by less than 7 percent. Within services, interesting patterns are emerging. Trade in goods-related transport services and crisis-related financial services has shrunk, as has expenditure on tourism abroad. But trade in a range of business, professional, and technical services is still increasing, with US exports growing even faster (at 10 percent) than US imports (at 7 percent). Developing countries like India, which are relatively specialized in business process outsourcing and information technology services, have suffered much smaller declines in total exports to the United States than countries like Brazil and China and regions like Africa, which are specialized in exports of goods, transport services, or tourism services. On the basis of new evidence from Indian services exporters, the authors suggest that services trade is buoyant relative to goods trade for two reasons: demand for a range of traded services is less cyclical, and services trade and production are less dependent on external finance. Even though few explicitly protectionist measures have so far been taken in services, the changing political climate and the widening boundaries of the state in crisis countries may introduce a national bias in firms' procurement and location choices. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/7/2009 , Also available in print.
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  • 107
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4921
    Parallel Title: Wodon, Quentin May growth lead to higher deprivation despite higher satisfaction?
    Keywords: Economic development ; Income distribution ; Economic development ; Income distribution
    Abstract: "In a relative deprivation framework, unless inequality is reduced, growth is associated with both higher satisfaction and higher deprivation. This may help explain the discontent with growth despite its benefits. As is well known in the literature, knowledge of the population's mean income and Lorenz curve is all that is needed to analyze a distribution, so that this can also be used to assess the satisfaction and deprivation of each individual. Given the normalization used to derive the satisfaction and deprivation measures, satisfaction and deprivation add up to the mean income for the population as a whole as well as for each individual. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/7/2009 , Also available in print.
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  • 108
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4923
    Parallel Title: Khandker, Shahidur R Poverty and income seasonality in Bangladesh
    Keywords: Income ; Poverty ; Income ; Poverty
    Abstract: "Seasonal poverty in Bangladesh, locally known as monga, refers to seasonal deprivation of food during the pre-harvest season of Aman rice. An analysis of household income and expenditure survey data shows that average household income and consumption are much lower during monga season than in other seasons, and that seasonal income greatly influences seasonal consumption. However, lack of income and consumption smoothing is more acute in greater Rangpur, the North West region, than in other regions, causing widespread seasonal deprivation. The analysis shows that agricultural income diversification accompanied by better access to micro-credit, irrigation, education, electrification, social safety net programs, and dynamic labor markets has helped reduce seasonality in income and poverty in regions other than Rangpur in the recent past. Hence, government policies should promote income diversification through infrastructure investments and provide income transfers to the targeted poor to contain income seasonality and poverty in this impoverished part of Bangladesh. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/7/2009 , Also available in print.
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  • 109
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4926
    Parallel Title: Hevia, Constantino Optimal devaluations
    Keywords: Devaluation of currency ; Recessions ; Devaluation of currency ; Recessions
    Abstract: "According to the conventional wisdom, when an economy enters a recession and nominal prices adjust slowly, the monetary authority should devalue the domestic currency to make the recession less severe. The reason is that a devaluation of the currency lowers the relative price of non-tradable goods, and this reduces the necessary adjustment in output relative to the case in which the exchange rate remains constant. This paper uses a simple small open economy model with sticky prices to characterize optimal fiscal and monetary policy in response to productivity and terms of trade shocks. Contrary to the conventional wisdom, in this framework optimal exchange rate policy cannot be characterized just by the cyclical properties of output. The source of the shock matters: while recessions induced by a drop in the price of exportable goods call for a devaluation of the currency, those induced by a drop in productivity in the non-tradable sector require a revaluation. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/26/2009 , Also available in print.
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  • 110
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4929
    Parallel Title: Keefer, Philip When do legislators pass on "pork"?
    Keywords: Economic development projects Finance ; India ; Economic development projects Finance ; India
    Abstract: "The authors examine a unique public spending program that is proliferating across developing countries, the constituency development fund, to investigate when legislators exert more effort on behalf of their constituents. Using data from India, they find that legislator effort is significantly lower in constituencies where voters are more attached to political parties. They are also lower in constituencies that are reserved for members of socially disadvantaged groups (lower castes), specifically in those reserved constituencies that are candidate strongholds. This result is robust to controls for alternate explanations and implies that legislators pass on pork when voters are more attached to political parties or influenced by identity issues. These findings have implications for the evaluation of constituency development funds. They also provide a new answer to a central issue in political economy, the conditions under which legislators seek to "bring home the pork" to constituents, that attaches great importance to the role of political parties. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/26/2009 , Also available in print.
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  • 111
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4932
    Parallel Title: Bandyopadhyay, Sushenjit Household welfare and natural resource management around national parks in Zambia
    Keywords: Wildlife management areas ; Wildlife management areas ; Zambia Economic conditions ; Zambia Economic conditions
    Abstract: "Game management areas in Zambia aim to combine nature conservation with economic empowerment of rural households. By looking at households inside and outside game management areas, this study advances the knowledge of the impact of community based natural resource management on household welfare. The paper focuses on the economic welfare of households living inside game management areas. It tries to answer the question: Do the households in game management areas enjoy higher levels of welfare relative to the conditions they would have been in had the area not been designated as a game management area? Within the game management area, the paper tries to determine the factors that influence household participation in natural resource management, and whether the participating households get any extra benefits. Also of interest is whether such benefits of living in a game management area, and, once in such an area, those of participating accrue more to the poorer segments of the communities. The study finds that the gains from living in a game management area and from active participation in natural resource management are large but unevenly distributed. Only game management areas near Kasanka, Lavushi, Isangano, and South Luangwa national parks in the sample show significant benefits to general and participating households. And in those areas, the poor do not seem to gain even when they participate actively. More even distribution of gains from game management areas across households near different park systems and across the poor and the non-poor should be a continuing goal of national policy makers. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/26/2009 , Also available in print.
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  • 112
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4933
    Parallel Title: Available in another form Tax policy to reduce carbon emissions in South Africa
    Keywords: Carbon taxes ; Carbon taxes
    Abstract: "Noting that South Africa may be one of the few African countries that could contribute to mitigating climate change, the authors explore the impact of a carbon tax relative to alternative energy taxes on economic welfare. Using a disaggregate general-equilibrium model of the South African economy, they capture the structural characteristics of the energy sector, linking a supply mix that is heavily skewed toward coal to energy use by different sectors and hence their carbon content. The authors consider a "pure" carbon tax as well as various proxy taxes such as those on energy or energy-intensive sectors like transport and basic metals, all of which achieve the same level of carbon reduction. In general, the more targeted the tax to carbon emissions, the better the welfare results. If a carbon tax is feasible, it will have the least marginal cost of abatement by a substantial amount when compared to alternative tax instruments. If a carbon tax is not feasible, a sales tax on energy inputs is the next best option. Moreover, labor market distortions such as labor market segmentation or unemployment will likely dominate the welfare and equity implications of a carbon tax for South Africa. This being the case, if South Africa were able to remove some of the distortions in the labor market, the cost of carbon taxation would be negligible. In short, the discussion of carbon taxation in South Africa can focus on considerations other than the economic welfare costs, which are likely to be quite low. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/26/2009 , Also available in print.
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  • 113
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4936
    Parallel Title: Rodríguez González, Aldo Javier Optimal pre-merger notification mechanisms
    Keywords: Consolidation and merger of corporations ; Consolidation and merger of corporations
    Abstract: "The authors compare the two merger control systems currently employed worldwide: a mandatory system based on merger size threshold and a voluntary system with ex-post monitoring and fines. The voluntary system possesses two informational advantages: (i) the enforcement agency employs more information -verifiable and non verifiable parameters- to decide the set of mergers to investigate, and (ii) the first move of merging firms reveals useful information to the agency about the competitive risk of a merger. If fines for undue omission to notify are upward limited, then a mixed mechanism is optimal, where small transactions are under a voluntary regime while the big mergers are obliged to report. Remedies for fixing anticompetitive mergers act as an instrument that induces firms to notify the operation, improving further the advantage of the voluntary mechanism. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/26/2009 , Also available in print.
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  • 114
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4853
    Parallel Title: Estache, Antonio Auctions with endogenous participation and quality thresholds
    Abstract: "Infrastructure projects are often technically complicated and highly customized. Therefore, procurement competition tends to be limited. Competition is the single most important factor toward auction efficiency and anti-corruption. However, the degree of competition realized is closely related to bidders' entry decision and the auctioneer's decision on how to assess technical attributes in the bid evaluation process. This paper estimates the interactive effects among quality, entry, and competition. With data on procurement auctions for electricity projects in developing countries, it is found that large electricity works are by nature costly and can attract only a few participants. The limited competition would raise government procurement costs. In addition, high technical requirements are likely to be imposed for these large-scale projects, which will in turn add extra costs for the better quality of works and further limit bidder participation. The evidence suggests that quality is of particular importance in large infrastructure projects and auctioneers cannot easily substitute price for quality. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/8/2009 , Also available in print.
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  • 115
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4856
    Parallel Title: Söderbom, Måns Market integration and structural transformation in a poor rural economy
    Keywords: Rural development ; Rural development
    Abstract: "By developing a simple theoretical model of the impact of market integration on sectoral output and employment in a poor rural setting, this paper demonstrates that trade can induce asymmetric growth. Under certain, plausible, assumptions, the non-farm sector will grow much faster than the agricultural sector when markets become integrated. Promoting market integration may thus be an effective way of encouraging diversification beyond agriculture and catalysing structural change in poor rural economies. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/8/2009 , Also available in print.
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  • 116
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4858
    Parallel Title: Lanjouw, Peter Poverty decline, agricultural wages, and non-farm employment in rural India
    Keywords: Agricultural laborers ; Manpower policy, Rural ; Poverty ; Rural poor ; Agricultural laborers ; Manpower policy, Rural ; Poverty ; Rural poor
    Abstract: "The authors analyze five rounds of National Sample Survey data covering 1983, 1987/8, 1993/4, 1999/0, and 2004/5 to explore the relationship between rural diversification and poverty. Poverty in rural India declined at a modest rate during this period. The authors provide region-level estimates that illustrate considerable geographic heterogeneity in this progress. Poverty estimates correlate well with region-level data on changes in agricultural wage rates. Agricultural labor remains the preserve of the uneducated and also to a large extent of the scheduled castes and scheduled tribes. Although agricultural labor grew as a share of total economic activity over the first four rounds, it had fallen back to the levels observed at the beginning of the survey period by 2004. This all-India trajectory masks widely varying trends across states. During this period, the rural non-farm sector grew modestly, mainly between the last two survey rounds. Regular non-farm employment remains largely associated with education levels and social status that are rare among the poor. However, casual labor and self-employment in the non-farm sector reveal greater involvement by disadvantaged groups in 2004 than in the preceding rounds. The implication for poverty is not immediately clear - the poor may be pushed into low-return casual non-farm activities due to lack of opportunities in the agricultural sector rather than being pulled by high returns offered by the non-farm sector. Econometric estimates reveal that expansion of the non-farm sector is associated with falling poverty via two routes: a direct impact on poverty that is likely due to a pro-poor marginal incidence of non-farm employment expansion; and an indirect impact attributable to the positive effect of non-farm employment growth on agricultural wages. The analysis also confirms the important contribution to rural poverty reduction from agricultural productivity, availability of land, and consumption levels in proximate urban areas. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/8/2009 , Also available in print.
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  • 117
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4862
    Parallel Title: Crespo-Cuaresma, Jesús Natural disasters and human capital accumulation
    Keywords: Education, Secondary ; Natural disasters ; Education, Secondary ; Natural disasters
    Abstract: "The author assesses empirically the relationship between natural disaster risk and investment in education. Although the results in the empirical literature tend to be inconclusive, using model averaging methods in the framework of cross-country and panel regressions, this paper finds an extremely robust negative partial correlation between secondary school enrollment and natural disaster risk. This result is exclusively driven by geological disasters. Natural disaster risk exposure is a robust determinant of differences in secondary school enrollment between countries, but not within countries, which implies that the effect can be interpreted as a long-run phenomenon. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/8/2009 , Also available in print.
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  • 118
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4865
    Parallel Title: Lloyd, P. J Global distortions to agricultural markets
    Keywords: Agricultural prices ; Agriculture Economic aspects ; Agriculture and state ; Agricultural prices ; Agriculture Economic aspects ; Agriculture and state
    Abstract: "Despite recent reforms, world agricultural markets remain highly distorted by government policies. Traditional indicators of those price distortions can be poor guides to the policies' economic effects. Recent theoretical literature provides indicators of trade and welfare-reducing effects of price and trade policies which this paper builds on to develop more-satisfactory indexes. The authors exploit a new Agricultural Distortion database to generate estimates of them for developing and high-income countries over the past half century. These better approximations of the trade and welfare effects of sector policies are generated without a formal model of global markets or even price elasticity estimates. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/8/2009 , Also available in print.
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  • 119
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4868
    Parallel Title: Van Kooten, G. C Wind power development
    Keywords: Wind power ; Wind power
    Abstract: "This study reviews the prospects of wind power at the global level. Existing studies indicate that the earth's wind energy supply potential significantly exceeds global energy demand. Yet, only 1 percent of the global electricity demand is currently derived from wind power despite 40 percent annual growth in wind generating capacity over the past 25 years. More than 98 percent of total current wind power capacity is installed in the developed countries plus China and India. It has been estimated that wind power could supply 7 to 34 percent of global electricity needs by 2050. However, wind power faces a large number of technical, economic, financial, institutional, market, and other barriers. To overcome these barriers, many countries have employed various policy instruments, including capital subsidies, tax incentives, tradable energy certificates, feed-in tariffs, grid access guarantees and mandatory standards. Besides these policies, climate change mitigation initiatives resulting from the Kyoto Protocol (e.g., CO2-emission reduction targets in developed countries and the Clean Development Mechanism in developing countries) have played a significant role in promoting wind power. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 3/19/2009 , Also available in print.
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  • 120
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4872
    Parallel Title: Raddatz, Claudio E Multilateral debt relief through the eyes of financial markets
    Keywords: Debt relief ; Debt relief
    Abstract: "The economic benefits of debt relief for recipient countries have been the subject of arduous debate, at least partly motivated by the difficulty of identifying the causal effect of debt relief on economic performance-given that performance itself may drive the decision to grant relief. This paper conducts an event study to assess the economic consequences of multilateral debt relief for recipient countries that is robust to these reverse causality issues. It estimates the response of the stock prices of South African multinationals with subsidiaries in those countries to the announcement of debt relief initiatives, and shows that stock prices exhibit a significant increase above those of other firms, especially around the launching of the recent Multilateral Debt Relief Initiative. The improvement in financial markets' assessment of the value of these multinationals is consistent with lower expected levels of future taxation in the recipient countries. Overall, the results are consistent with the "debt overhang" argument for debt relief. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/7/2009 , Also available in print.
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  • 121
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4874
    Parallel Title: López, Ramón Natural disasters and the dynamics of intangible assets
    Keywords: Human capita ; Intangible property ; Natural disasters Economic aspects ; Human capita ; Intangible property ; Natural disasters Economic aspects
    Abstract: "Empirical evidence suggests that the higher-order effects of natural disasters, which affect intangible assets, may be even more important than the material inter-industry effects. However, most existing general equilibrium models ignore higher order effects concerning human capital. Moreover, it is recognized that natural resource dependence increases vulnerability to natural disasters. Recent studies have indeed shown the potential importance of subsistence traps caused by asset losses in low-income economies from a partial equilibrium perspective. This paper presents an analysis that allows for endogenous investments in real assets (physical capital) as well as in human capital, explicitly considering the potential for subsistence traps arising from minimum consumption and minimum natural resource irreversibility thresholds. The general equilibrium ramifications of subsistence traps are developed. The main issue is that the economy may be subject to hysteresis: A temporary shock such as a natural disaster may leave permanent consequences for the economy. An obvious permanent effect of a one-time disaster shock is that physical man-made and natural assets owned especially by poor households may end up completely wiped out. The disaster may not be the direct cause; it may be that poor households would have to obtain minimum subsistence consumption out of depleted assets. However, not all permanent effects of a one-time shock are negative. Under certain conditions, the destruction of man-made physical and natural capital may have general equilibrium effects that increase the incentives to invest in human capital and may even propel a formerly stagnating economy into a virtuous path of continuing growth. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/7/2009 , Also available in print.
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  • 122
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4877
    Parallel Title: Jack, William Health investments and economic growth
    Keywords: Economic development Health aspects ; Health Social aspects ; Medical economics ; Economic development Health aspects ; Health Social aspects ; Medical economics
    Abstract: "This paper reviews the correlations and potential links between health and economic growth and summarizes the evidence on the role of government in improving health status. At the macroeconomic level, the evidence of an impact of health on growth remains ambiguous due both to difficulties in measuring health, and to the methodological challenges of identifying causal links. The evidence on the micro linkages from health investments to productivity and income are robust. Progress in life expectancy over the past two centuries has been spectacular, fueled by: improved agriculture that has increased food quantity; knowledge of disease transmission, and effective public health interventions that have controlled communicable diseases such as malaria, yellow fever, and hookworm; and, most recently and importantly, investments in very young children that pay off in healthier and more productive adults. Whether public investments in medical care affect health hinges on the quality of health institutions. In much of the developing world, factors such as chronic absenteeism among public providers, poor budget execution, ineffective management, and virtually no accountability weaken public efforts. Institutional issues are central in efforts to enhance public health investments, which in turn have a direct impact on the population's welfare and, perhaps over the long term, improvements in national income. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/7/2009 , Also available in print.
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  • 123
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4880
    Parallel Title: Available in another form Trends in household coverage of modern infrastructure services in Africa
    Keywords: Household surveys ; Infrastructure (Economics) ; Household surveys ; Infrastructure (Economics)
    Abstract: "Household surveys have long been used to estimate poverty and inequality trends, as well as trends in education and health indicators, but they have not been used to the same extent to assess trends in the access to or coverage of modern infrastructure services. In this paper, we use Demographic and Health Surveys from a larger sample of sub-Saharan African countries in order to collect comparable information across countries on coverage of piped water, flush toilets, electricity, and landline telephones over time. The results suggest that coverage rates for electricity, flush toilets have improved slightly over the last decade. Coverage of piped water has declined, at the same time as coverage of landline (as well as cellular) telephone has increased rapidly. The decline has been primarily in the urban areas while the infrastructure coverage has either increased or remained stable in rural Africa. For all four services, among the poorest households coverage remains virtually inexistent. If business as usual continues, it would take a very long time to reach universal or widely shared coverage even in countries where coverage has improved. These results point to the need to increase efforts by governments and international community to progressively increase access to modern infrastructure services in Africa. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/7/2009 , Also available in print.
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  • 124
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4906
    Parallel Title: Lin, Justin Yifu Development strategy, viability, and economic distortions in developing countries
    Keywords: Economics ; Government holding companies ; Economics ; Government holding companies
    Abstract: "This paper presents a three-sector static model to explore the rationale for a series of institutional distortions in developing countries. The authors argue that, after World War II, motivated by a belief in the development of state-of-the-art industries as a means for nation building, the majority of developing country governments attempted to accelerate the growth of advanced capital-intensive industries. However, since developing countries are relatively rich in labor or natural resource endowments but not in capital endowment, advanced capital-intensive industries were not adapted to the endowment structures of these developing countries at the time. Enterprises in those industries were non-viable in open, competitive markets and could not survive without government subsidization or protection. The model shows that, in order to mobilize resources into the capital-intensive, advanced sectors, it is necessary for governments to use distortionary policies such as taxes and subsidies, distortions of factor prices, directive allocation of resources, and nationalization of enterprises. Such distortions enable developing countries to set up advanced, capital-intensive industries in the early stage of their development. However, they also tend to suppress incentives, misallocate resources, and make the economy inefficient. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/7/2009 , Also available in print.
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  • 125
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4908
    Parallel Title: Carletto, Calogero Moving up the ladder?
    Keywords: Occupational mobility ; Return migration ; Occupational mobility ; Return migration
    Abstract: "The contribution of return migrants to economic development in source countries can be significant. Overseas savings of returnees may lead to improvements in household welfare and provide liquidity for investments in the face of credit market failures. Labor market experience and skills acquired abroad may also lead migrants to find occupations higher in the skill and remuneration spectrum upon return. This study uses the 2005 Albanian Living Standards Measurement Study Survey and estimates the impact of international migration experience on the occupational mobility of return migrants vis a vis working-age Albanian residents that never migrated. Controlling for the non-random nature of international migration and return, the results show that past migration experience increases the likelihood of upward occupational mobility. Exploring the heterogeneity of impact by host country indicates that the positive effect of past migration experience on upward occupational mobility is driven by past migration experience in Italy and countries further a field, while past migration experience in Greece does not exert any significant impact on mobility outcomes. The results, which are consistent across different sample specifications and outcome variables measuring occupational mobility, hint at the link between migration and human/financial capital formation among migrants and foster optimism concerning the positive effect of return migration on economic development. This insight is particularly important since remittances from permanent migrants, which have fueled the impressive growth performance of the country in the recent era, may taper off in the medium to long term with the decline in out-migration and growing global economic woes. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/7/2009 , Also available in print.
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  • 126
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4845
    Parallel Title: Farchy, Emily The impact of EU accession on human capital formation
    Keywords: Brain drain ; Human capital ; Brain drain ; Human capital
    Abstract: "Can a brain drain be good for development? Many studies have established the theoretical possibility of such a brain gain. Yet it is only recently that the relaxation of data constraints has allowed for sound empirical assessments. In utilizing the dramatic policy change that accompanied European Union accession as a natural experiment, this paper is able to assuage fears of reverse causality between migration and human capital formation. The results highlight a significant impact of European Union accession on human capital formation indicating that the prospect of migration can indeed fuel skill formation even in the context of middle-income economies. And, if accompanied by policies to promote return migration, as well as a functioning credit market to enable private investment, international labor mobility could represent a powerful tool for growth. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/8/2009 , Also available in print.
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  • 127
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4848
    Parallel Title: Portugal-Pérez, Alberto Assessing the impact of political economy factors on rules of origin under NAFTA
    Keywords: Certificates of origin ; Certificates of origin
    Abstract: "Rules of origin are legitimate policy instruments to prevent trade deflection in a preferential trade agreement short of a customs union. Trade deflection takes place when a product imported into the preferential trade agreement through the member with the lowest external tariff is transhipped to a higher-tariff member, while yielding a benefit for the re-exporter. Yet, when captured by special interest groups, rules of origin can restrict trade beyond what is needed to prevent trade deflection. By how much do political economy factors account for the stringency of rules of origin? This study quantifies the impact of both determinants - those considered "justifiable" because they prevent trade deflection and those deemed to arise from "political economy" forces - on the restrictiveness of rules of origin under the North American Free Trade Agreement, approximated by a restrictiveness index. The main finding is that political economy forces, especially from the United States, raised significantly the restrictiveness of the rules of origin. Indeed, in industries where political-economy forces were strong prior to the North American Free Trade Agreement, as when the U.S. Most Favored Nation tariff was high or the revealed comparative advantage of Mexico (the United States) was strong (weak), more stringent rules of origin were introduced. Thus, stricter rules of origin are associated with higher production costs reducing the potential benefits of enhanced market access that is initially pursued by this type of agreement. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/8/2009 , Also available in print.
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  • 128
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4852
    Parallel Title: Toto Same, Achille Transforming natural resource wealth into sustained growth and poverty reduction
    Keywords: Natural resources Government policy ; Natural resources Government policy
    Abstract: "Oil and mineral revenues raise national savings and hence facilitate investment, capital accumulation, and sustained growth; thus, there are benefits of owning large natural resources. There can be a significant spillover effect from the oil sector to the non-oil sector particularly if governments are committed to bridge the infrastructure gap and promote the non-oil economy and foremost the non-oil tradable sector. Consequently, the capacity for coordinated policy formulation and execution is fundamental as well as sound windfall management mechanisms and institutions. This conceptual framework uses the case of Indonesia and the example of Norway to argue that the resource paradox is avoidable. Abundance should not be a curse, but rather a blessing for Sub-Saharan Africa's oil and mineral exporting countries. The country context and political economy matter a great deal but should not be the main driving forces behind windfall management, to avoid excessive rent-seeking activities, inefficiency, and wasteful spending. The EITI++ implementation can contribute to make a difference, mostly through capacity building, implementation assistance, and coordination support. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/8/2009 , Also available in print.
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  • 129
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4855
    Parallel Title: Estache, Antonio Bidders' entry and auctioneer's rejection
    Abstract: "Limited competition has been a serious concern in infrastructure procurement. Importantly, however, there are normally a number of potential bidders initially showing interest in proposed projects. This paper focuses on tackling the question why these initially interested bidders fade out. An empirical problem is that no bids of fading-out firms are observable. They could decide not to enter the process at the beginning of the tendering or may be technically disqualified at any point in the selection process. This paper applies the double selection model to procurement data from road development projects in developing countries and examines why competition ends up restricted. It shows that bidders are self-selective and auctioneers also tend to limit participation depending on the size of contracts. Therefore, limited competition would likely lead to high infrastructure procurement costs. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 3/5/2009 , Also available in print.
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  • 130
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4857
    Parallel Title: Robinson, Jonathan Transactional sex as a response to risk in Western Kenya
    Keywords: AIDS (Disease) ; Prostitutes Health and hygiene ; Prostitution Health aspects ; AIDS (Disease) ; Prostitutes Health and hygiene ; Prostitution Health aspects
    Abstract: "Formal and informal commercial sex work is a way of life for many poor women in developing countries. Though sex workers have long been identified as crucial in affecting the spread of HIV/AIDS, particularly in Sub-Saharan Africa, the nature of sex-for-money transactions remains poorly understood. Using a unique panel dataset constructed from 192 self-reported sex worker diaries which include detailed information on sexual behavior, labor supply, and health shocks, the authors find that sex workers adjust their supply of risky, better compensated sex to cope with unexpected health shocks, exposing themselves to increased risk of HIV infection. In particular, women are 3.1 percent more likely to see a client, 21.2 percent more likely to have anal sex, and 19.1 percent more likely to have unprotected sex on days in which a household member falls ill. Women also increase their supply of risky sex on days after missing work due to symptoms from a sexually transmitted infection. Given that HIV prevalence has been estimated at 9.8 percent in this part of Kenya, these behavioral responses entail significant health risks for sex workers and their partners, and suggest that sex workers are unable to cope with risk through other formal or informal consumption smoothing mechanisms. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/8/2009 , Also available in print.
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  • 131
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4879
    Parallel Title: Allcott, Hunt The performance of decentralized school systems
    Keywords: Schools Decentralization ; Schools Decentralization
    Abstract: "This program evaluation estimates the effects on standardized test scores of graduating from the Fe y Alegria private school system in Venezuela. The authors find an Average Treatment Effect on the order of 0.1 standard deviations (approximately 16 percent of the average score), using a control group of public school students. These effects are significantly larger for households at the bottom of the distribution, and smaller for those at the top. The authors posit that the better performance of the Fe y Alegria system stems from their labor contract flexibility and decentralized administrative structure. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/7/2009 , Also available in print.
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  • 132
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4922
    Parallel Title: Makdissi, Paul Can risk averse competitive input providers serve farmers efficiently in developing countries ?
    Abstract: "Under price ceilings and quality floors for agricultural inputs in cash crop sectors in developing countries where credit markets are weak, imperfect information on the ability of farmers to pay for their inputs at the end of the cropping season may lead the decentralized production of those inputs by risk averse private input providers to be inefficient. A coordinating agency and/or subsidies for new farmers could help to produce and distribute more agricultural inputs, thereby increasing the profits for input providers while also enabling more farmers to produce the crops that are key to their livelihood. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/7/2009 , Also available in print.
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  • 133
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4925
    Parallel Title: Beine, Michel International migration, transfers of norms and home country fertility
    Keywords: Internationale Migration ; Soziale Norm ; Fertilität ; Bildungsverhalten ; Migranten ; Welt ; Emigration and immigration ; Fertility, Human ; Emigration and immigration ; Fertility, Human
    Abstract: "This paper examines the relationship between international migration and source country fertility. The impact of international migration on source country fertility may have a number of causes, including a transfer of destination countries' fertility norms and an incentive to acquire more education. It provides provide a rigorous test of the diffusion on of fertility norms using original and detailed data on migration. The results provide evidence of a significant transfer of fertility norms from migrants to their country of origin: a one percent decrease in the fertility norm to which migrants are exposed reduces home country fertility by about 0.3 percent for origin countries. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/7/2009 , Also available in print.
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  • 134
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4928
    Parallel Title: Ban, Radu Is deliberation equitable?
    Keywords: Decision making ; Political participation ; Decision making ; Political participation
    Abstract: "Deliberative decision-making processes are becoming increasingly important around the world to make important decisions about public and private goods allocation, but there is very little empirical evidence about how they actually work. In this paper the authors use data from India extracted from 131 transcripts of village meetings matched with data from household surveys conducted in the same villages prior to the meetings, to study whose preferences are reflected in the meetings. The meetings are constitutionally empowered to make decisions about public and private goods. The findings show that the more land a person owns, the higher the likelihood her preference is mentioned in the meeting, the longer the amount of time spent discussing this preference, and the higher the likelihood that a decision to provide or repair this public or private good is taken. At the same time, the voices of disadvantaged castes, while not dominating the meeting, are also heard. By contrast, the preferences of Muslims are given less time. High village literacy and the presence of higher level officials during village meetings mitigate the power of the landed, but political reservations for low castes for the post of village president increase the power of the landed. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/26/2009 , Also available in print.
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  • 135
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4931
    Parallel Title: Rosendahl, Knut Einar Simple model frameworks for explaining inefficiency of the clean development mechanism
    Keywords: Greenhouse gas mitigation ; Greenhouse gas mitigation
    Abstract: "The Clean Development Mechanism (CDM) is an offset mechanism designed to reduce the overall cost of implementing a given global target for greenhouse gas (GHG) emissions in industrialized "Annex B" countries of the Kyoto Protocol. This paper discusses various ways in which CDM projects do not imply full offset of emissions, thus leading to an overall increase in global GHG emissions when considering the Annex-B emissions increase allowed by the offsets. The authors focus on two ways in which this may occur: baseline manipulation; and leakage. Baseline manipulation may result when agents that carry out CDM projects have incentives to increase their initial (or baseline) emissions in order to optimize the value of CDM credits. Leakage occurs because reductions in emissions under a CDM project may affect market equilibrium in local and/or global energy and product markets, and thereby increase emissions elsewhere. Remedies against these problems are discussed. Such remedies are more obvious for the baseline problem (where one is simply to choose an exogenous baseline independent of the project) than for the leakage problem (which is difficult to prevent, and where a prediction of the effect must rely on information about overall market equilibrium effects). "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/26/2009 , Also available in print.
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  • 136
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4934
    Parallel Title: De Mel, Suresh Innovative firms or innovative owners?
    Keywords: Small business ; Technological innovations ; Small business ; Technological innovations
    Abstract: "Innovation is key to technology adoption and creation, and to explaining the vast differences in productivity across and within countries. Despite the central role of the entrepreneur in the innovation process, data limitations have restricted standard analysis of the determinants of innovation to consideration of the role of firm characteristics. The authors develop a model of innovation that incorporates the role of both owner and firm characteristics, and use this to determine how product, process, marketing, and organizational innovations should vary with firm size and competition. They then use a new, large, representative survey from Sri Lanka to test this model and to examine whether and how owner characteristics matter for innovation. The survey also allows analysis of the incidence of innovation in micro and small firms, which have traditionally been overlooked in the study of innovation, despite these firms comprising the majority of firms in developing countries. The analysis finds that more than one-quarter of the microenterprises are engaging in innovation, with marketing innovations the most common. As predicted by the model, firm size has a stronger positive effect, and competition a stronger negative effect, on process and organizational innovations than on product innovations. Owner ability, personality traits, and ethnicity have a significant and substantial impact on the likelihood of a firm innovating, confirming the importance of the entrepreneur in the innovation process. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/26/2009 , Also available in print.
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  • 137
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4937
    Parallel Title: Klapper, Leora The impact of the business environment on the business creation process
    Keywords: Business enterprises Registration and transfer ; Entrepreneurship ; Business enterprises Registration and transfer ; Entrepreneurship
    Abstract: "New data from the 2008 World Bank Group Entrepreneurship Survey indicates a very strong and statistically significant relationship between entrepreneurship and a better business environment. Data for 100 countries on the number of total and newly registered corporations over an eight-year period (2000-2007) were collected directly from registrars of companies around the world. Data were also collected on the functioning and structure of business registries. Empirical evidence suggests that greater ease in starting a business and better governance are associated with increased entrepreneurial activity. After controlling for economic development (gross domestic product per capita), higher entrepreneurial activity is significantly associated with cheaper, more efficient business registration procedures and better governance. Although the degree of progress in the modernization of business registries varies greatly, countries usually have a common goal to evolve from a paper-based business registry to a one-stop, automated, web-enabled registry capable of delivering products and services online via transactions involving authenticated users and documents. Tests show that business registry modernization (often a component of broader private sector reforms) has a positive impact not only on the ease of creating a business, but also on new business registration. Overall, the data show that a quick, efficient, and cost-effective business registration process is critical for fostering formal sector entrepreneurship. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/26/2009 , Also available in print.
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  • 138
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: 2009 World Bank eLibrary Also available in print
    Series Statement: Policy research working paper 4940
    Parallel Title: Norgaard, Kari Marie Cognitive and behavioral challenges in responding to climate change
    Keywords: Climatic changes Government policy ; Climatic changes Public opinion ; Global warming ; Climatic changes Government policy ; Climatic changes Public opinion ; Global warming
    Abstract: "Climate scientists have identified global warming as the most important environmental issue of our time, but it has taken over 20 years for the problem to penetrate the public discourse in even the most superficial manner. While some nations have done better than others, no nation has adequately reduced emissions and no nation has a base of public citizens that are sufficiently socially and politically engaged in response to climate change. This paper summarizes international and national differences in levels of knowledge and concern regarding climate change, and the existing explanations for the worldwide failure of public response to climate change, drawing from psychology, social psychology and sociology. On the whole, the widely presumed links between public access to information on climate change and levels of concern and action are not supported. The paper's key findings emphasize the presence of negative emotions in conjunction with global warming (fear, guilt, and helplessness), and the process of emotion management and cultural norms in the construction of a social reality in which climate change is held at arms length. Barriers in responding to climate change are placed into three broad categories: 1) psychological/conceptual, 2) social and cultural, and 3) structural (political economy). The author provides policy considerations and summarizes the policy implications of both psychological and conceptual barriers, and social and cultural barriers. An annotated bibliography is included. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/26/2009 , Also available in print.
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  • 139
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4676
    Parallel Title: Nehru, Vikram The concept of odious debt
    Keywords: Debt relief ; Debts, External ; Debt relief ; Debts, External
    Abstract: "Despite the popularity of the term among advocates of debt forgiveness, there is little agreement on a workable definition of "odious" debts and there are but few examples where the concept has been invoked in law to justify non-payment of sovereign debts. Most often, these have been cases when a successor state or government has refused to honor certain debts contracted by its predecessor state or government. Repudiating sovereign debts on broader grounds - such as that money may have been misused by the borrower or that results were not as hoped for at the outset of lending - would create real risks not only of reduced financial flows to poorer countries as a result of the danger of ex post challenges to lenders' claims, but also of moral hazard and lack of project ownership. This paper presents a discussion of the extant legal and financial environment facing developing country sovereign borrowers and develops a proposed approach within this environment to address issues of concern underlying the concept of odious or illegitimate debt. The authors make the case for focusing attention on codes of conduct along the lines of the Equator Principles and on refining forward-looking attempts to increase aid effectiveness and recover stolen assets. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/20/2009 , Also available in print.
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  • 140
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4679
    Parallel Title: David, Antonio C Exploring the links between HIV/AIDS, social capital, and development
    Keywords: HIV (Viruses) ; Social capital (Sociology) ; HIV (Viruses) ; Social capital (Sociology)
    Abstract: "This paper attempts to quantify the impact of the HIV/AIDS epidemic on social capital with cross-country data. Using data from the World Values Survey, the authors estimate reduced-form regressions of the main determinants of social capital controlling for HIV prevalence, institutional quality, social distance, and economic indicators. The results obtained indicate that HIV prevalence affects social capital negatively. The empirical estimates suggest that a one standard deviation increase in HIV prevalence will lead to a decline of at least 1 percent in trust, controlling for other determinants of social capital. Moving from a country with a relatively low level of HIV prevalence, such as Estonia, to a country with a relatively high level, such as Uganda, there is a more than 11 percent point decline in social capital. These results are robust in a number of dimensions and highlight the empirical importance of an additional mechanism through which HIV/AIDS hinders the development process. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/20/2009 , Also available in print.
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  • 141
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4726
    Parallel Title: Gwinner, W. Britt The sub prime crisis
    Keywords: Global Financial Crisis, 2008-2009 ; Mortgage loans ; Subprime mortgage loans ; Global Financial Crisis, 2008-2009 ; Mortgage loans ; Subprime mortgage loans
    Abstract: "This paper discusses some of the key characteristics of the U.S. subprime mortgage boom and bust, contrasts them with characteristics of emerging mortgage markets, and makes recommendations for emerging market policy makers. The crisis has raised questions in the minds of many as to the wisdom of extending mortgage lending to low and moderate income households. It is important to note, however, that prior to the growth of subprime lending in the 1990s, U.S. mortgage markets already reached low and moderate-income households without taking large risks or suffering large losses. In contrast, in most emerging markets, mortgage finance is a luxury good, restricted to upper income households. As policy makers in emerging market seek to move lenders down market, they should adopt policies that include a variety of financing methods and should allow for rental or purchase as a function of the financial capacity of the household. Securitization remains a useful tool when developed in the context of well-aligned incentives and oversight. It is possible to extend mortgage lending down market without repeating the mistakes of the subprime boom and bust. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/18/2009 , Also available in print.
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  • 142
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4729
    Parallel Title: Giles, John The great proletarian cultural revolution, disruptions to education, and returns to schooling in urban China
    Keywords: Postsecondary education ; Postsecondary education ; China History Cultural Revolution, 1966-1976 ; China History Cultural Revolution, 1966-1976
    Abstract: "In determining whether a country's higher education system should be expanded, it is important for policymakers first to determine the extent to which high private returns to post-secondary education are an indication of the scarcity of graduates instead of the high unobserved ability of students who choose to attend post-secondary education. To this end, the paper identifies the returns to schooling in urban China using individual-level variation in educational attainment caused by exogenous city-wide disruptions to education during the Cultural Revolution from 1966 to 1976. For city-cohorts who experienced greater disruptions, children's educational attainment became less correlated with that of their fathers and more influenced by whether their fathers held administrative positions. The analysis calculates returns to college education using data from the China Urban Labor Survey conducted in five large cities in 2001. The results are consistent with the selection of high-ability students into higher education. The analysis also demonstrates that these results are unlikely to be driven by sample selection bias associated with migration, or by alternative pathways through which the Cultural Revolution could have affected adult productivity. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/12/2009 , Also available in print.
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  • 143
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4738
    Parallel Title: Wodon, Quentin Rising food prices in Sub-Saharan Africa
    Keywords: Food prices Africa, Sub-Saharan ; Poverty Africa, Sub-Saharan ; Food prices Africa, Sub-Saharan ; Poverty Africa, Sub-Saharan ; Africa, Sub-Saharan Economic conditions ; Africa, Sub-Saharan Economic conditions
    Abstract: "The increase in food prices represents a major crisis for the world's poor. This paper aims to review the evidence on the potential impact of higher food prices on poverty in sub-Saharan Africa, and examines the extent to which policy responses will benefit the poor. The paper shows that rising food prices are likely to lead to higher poverty in sub-Saharan Africa as the negative impact on net poor consumers outweighs the benefits to poor producers. A recent survey shows that the most common policy response in sub-Saharan African countries is reducing taxes on food while outside the region price controls or targeted consumer subsidies are the most popular measure. Sub-Saharan African countries also have a higher prevalence of food-based safety net programs which are being scaled up to respond to rising prices. The review suggests that the benefits from reducing import tariffs on staples may accrue largely to the non-poor. Social protection programs show more promise, but geographic targeting is likely to be crucial in ensuring that benefits reach the neediest. The paper also argues that anti-poverty interventions ought to retain their focus on rural areas where poverty remains highest even after taking into account the adverse impact on the urban poor due to the rise in food prices. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/12/2009 , Also available in print.
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  • 144
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4770
    Parallel Title: Levy Yeyati, Eduardo Crises, capital controls, and financial integration
    Keywords: Capital movements ; Financial crises ; Capital movements ; Financial crises
    Abstract: "This paper analyzes the effects of capital controls and crises on international financial integration, using data on stocks from emerging economies that trade in domestic and international markets. The cross-market premium (the ratio between the domestic and international market price of cross-listed stocks) provides a valuable measure of how capital controls and crises affect integration. The paper shows that, contrary to the common perception that capital controls can be easily evaded, they do affect the cross-market premium. Controls on capital inflows put downward pressure on domestic markets relative to international ones, generating a negative premium. The opposite happens with controls on capital outflows. This signals the inability of market participants to engage in perfect arbitrage, due to the segmentation of domestic markets from international ones induced by capital controls. Crises affect financial integration by generating more volatility in the cross-market premium and putting more downward pressure on domestic prices. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 3/19/2009 , Also available in print.
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  • 145
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4779
    Parallel Title: Development Research Group Lessons from World Bank research on financial crises
    Keywords: Financial crises ; Financial crises
    Abstract: "The benefits of financial development and globalization have come with continuing fragility in financial sectors. Periodic crises have had real but heterogeneous welfare impacts and not just for poor people; indeed, some of the conditions that foster deep and persistent poverty, such as lack of connectivity to markets, have provided a degree of protection for the poor. Past crises have also had longer-term impacts for some of those affected, most notably through the nutrition and schooling of children in poor families. As in other areas of policy, effective responses to a crisis require sound data and must take account of incentives and behavior. An important lesson from past experience is that the short-term responses to a crisis-macroeconomic stabilization, trade policies, financial sector policies and social protection-cannot ignore longer-term implications for both economic development and vulnerability to future crises. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 3/17/2009 , Also available in print.
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  • 146
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4691
    Parallel Title: Melecky, Martin Comparing constraints to economic stabilization in Macedonia and Slovakia
    Keywords: Economic stabilization ; Economic stabilization ; Economic stabilization ; Economic stabilization ; Macedonia (Republic) Economic policy ; Slovakia Economic policy ; Macedonia Economic policy ; Slovakia Economic policy
    Abstract: "This paper re-emphasizes the link from structural policies to enhanced macroeconomic stabilization using a small structural model estimated on quarterly data for Macedonia and Slovakia over 1995-2007. The success of macroeconomic stabilization, typically in the hands of monetary policy, is not only determined by a suitable choice of the nominal anchor, which shapes the reaction function of monetary policy, but also the constraints within which the monetary policy strives to achieve its objectives. The key attributes of the constraints to macroeconomic stabilization are economic rigidities and structural shocks. By benchmarking the estimated economic rigidities and structural shocks faced by Macedonia to those faced by Slovakia, the authors find that Macedonia has relatively weaker transmission mechanisms of monetary policy, higher output rigidity, and a lower exchange rate pass-through, and faces larger external shocks. For Macedonia, these relatively higher constraints on monetary policy together with the chosen exchange rate anchor result in greater output and inflation volatility relative to Slovakia. Hence, it appears that small, open economies with stronger economic rigidities should apply monetary policy regimes that allow for more flexible adjustments in external relative prices to enhance their macroeconomic stability. "--World Bank web site
    Abstract: "This paper re-emphasizes the link from structural policies to enhanced macroeconomic stabilization using a small structural model estimated on quarterly data for Macedonia and Slovakia over 1995-2007. The success of macroeconomic stabilization, typically in the hands of monetary policy, is not only determined by a suitable choice of the nominal anchor, which shapes the reaction function of monetary policy, but also the constraints within which the monetary policy strives to achieve its objectives. The key attributes of the constraints to macroeconomic stabilization are economic rigidities and structural shocks. By benchmarking the estimated economic rigidities and structural shocks faced by Macedonia to those faced by Slovakia, the authors find that Macedonia has relatively weaker transmission mechanisms of monetary policy, higher output rigidity, and a lower exchange rate pass-through, and faces larger external shocks. For Macedonia, these relatively higher constraints on monetary policy together with the chosen exchange rate anchor result in greater output and inflation volatility relative to Slovakia. Hence, it appears that small, open economies with stronger economic rigidities should apply monetary policy regimes that allow for more flexible adjustments in external relative prices to enhance their macroeconomic stability. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/20/2009 , Also available in print.
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  • 147
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4706
    Parallel Title: Labonne, Julien A road to trust
    Keywords: Transaction costs ; Transaction costs
    Abstract: "The authors explore the relationship between transaction costs and generalized trust. Using panel data from 2,100 households in 135 rural communities of the Philippines, the paper shows that where transaction costs are reduced (proxied by road construction), there is an increase in generalized trust. Consistent with the argument that generalized trust is built through repeated interactions, the authors find that the individuals most likely to engage in exchange exhibit an increase in trust after road construction. These results suggest that, rather than being an input to economic growth, trust might be a product of reduced transaction costs (which also favors growth). "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/18/2009 , Also available in print.
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  • 148
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4708
    Parallel Title: Kaplan, David S Job creation and labor reform in Latin America
    Keywords: Job creation ; Labor laws and legislation ; Job creation ; Labor laws and legislation
    Abstract: "This paper studies the effects of labor-regulation reform using data for 10,396 firms from 14 Latin American countries. Firms are asked both how many permanent workers they would have hired and how many they would have terminated if labor regulations were made more flexible. I find that making labor regulations more flexible would lead to an average net increase of 2.08 percent in total employment. Firms with fewer than 20 employees would benefit the most, with average gains in net employment of 4.27 percent. Countries with more regulated labor markets would experience larger gains in total employment. These larger gains in total employment, however, would be achieved through higher rates of hiring and higher rates of termination. These results may explain why there is substantial opposition to labor reforms despite the predicted gains in efficiency and total employment. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/18/2009 , Also available in print.
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  • 149
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4707
    Parallel Title: Corrêa, P. H. da Rocha Technology adoption and the investment climate
    Keywords: Diffusion of innovations ; Diffusion of innovations ; Diffusion of innovations ; Diffusion of innovations
    Abstract: "The international diffusion of technology presents an opportunity for developing economies distant from the world technological frontier to reduce their income gap relative to advanced economies. It is therefore crucial to understand why, when faced with similar technological alternatives different firms in different countries choose to adopt different vintages of capital. This paper examines technology adoption across firms in Eastern Europe and Central Asia. The findings show that access to complementary inputs - managerial capacity, skilled labor, finance, and good infrastructure - and to international knowledge - through foreign direct investment or exports - is an important correlate of technology adoption. The link between market incentives and technology adoption is more nuanced. Although consumer pressure results in technology adoption, competitor pressure does not, suggesting that only firms with rents are able to adopt technology given substantial resource constraints. Privatized firms exhibit better technology adoption outcomes but only when a clear private owner with a profit incentive is present. Better governance is associated with technology adoption only in the countries that joined the European Union in 2004. Future increases in technology adoption by firms in the region will require complementary reforms of the investment climate. "--World Bank web site
    Abstract: "The international diffusion of technology presents an opportunity for developing economies distant from the world technological frontier to reduce their income gap relative to advanced economies. It is therefore crucial to understand why, when faced with similar technological alternatives different firms in different countries choose to adopt different vintages of capital. This paper examines technology adoption across firms in Eastern Europe and Central Asia. The findings show that access to complementary inputs - managerial capacity, skilled labor, finance, and good infrastructure - and to international knowledge - through foreign direct investment or exports - is an important correlate of technology adoption. The link between market incentives and technology adoption is more nuanced. Although consumer pressure results in technology adoption, competitor pressure does not, suggesting that only firms with rents are able to adopt technology given substantial resource constraints. Privatized firms exhibit better technology adoption outcomes but only when a clear private owner with a profit incentive is present. Better governance is associated with technology adoption only in the countries that joined the European Union in 2004. Future increases in technology adoption by firms in the region will require complementary reforms of the investment climate. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/18/2009 , Also available in print.
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  • 150
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4719
    Parallel Title: Portugal-Pérez, Alberto Trade costs in Africa
    Keywords: Africa, Sub-Saharan Commerce ; Export duties ; Africa, Sub-Saharan Commerce ; Export duties
    Abstract: "This paper reviews data and research on trade costs for Sub-Saharan African countries. It focuses on: border-related costs, transport costs, costs related to behind-the border issues, and the costs of compliance with rules of origin specific to preferential trade agreements. Trade costs are, on average, higher for African countries than for other developing countries. Using gravity-model estimates, the authors compute ad-valorem equivalents of improvements in trade indicators for a sample of African countries. The evidence suggests that the gains for African exporters from improving the trade logistics half-way to the level in South Africa is more important than a substantive cut in tariff barriers. As an example, improving logistics in Ethiopia half-way to the level in South Africa would be roughly equivalent to a 7.5 percent cut in tariffs faced by Ethiopian exporters. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/18/2009 , Also available in print.
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  • 151
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4722
    Parallel Title: King, Elizabeth M Promotion with and without learning
    Keywords: Dropouts ; Promotion (School) ; Dropouts ; Promotion (School)
    Abstract: "Many educators and policymakers have argued for lenient grade promotion policy - even automatic promotion - in developing country settings where grade retention rates are high. The argument assumes that grade retention discourages persistence or continuation in school and that the promotion of children with lower achievement does not hamper their ability or their peers' ability to perform at the next level. Alternatively, promoting students into grades for which they are not prepared may lead to early dropout behavior. This study shows that in a sample of schools from the Northwest Frontier Province of Pakistan, students are promoted primarily on the basis of merit. An econometric decomposition of promotion decisions into a component that is based on merit indicators (attendance and achievement in mathematics and language) and another that is uncorrelated with those indicators allows a test of whether parental decisions to keep their child in school is influenced by merit-based or non-merit-based promotions. Results suggest that the enrollment decision is significantly influenced by whether learning has taken place, and that grade promotion that is uncorrelated with merit has a negligible impact on school continuation. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/18/2009 , Also available in print.
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  • 152
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4725
    Parallel Title: Tosun, Mehmet S Decentralization, economic development, and growth in Turkish provinces
    Keywords: Decentralization in government ; Local government ; Decentralization in government ; Local government ; Turkey Economic conditions ; Turkey Economic conditions
    Abstract: "There have been important developments in the decentralization of the government structure in Turkey since the early 1980s. This paper examines economic development and growth in Turkish provinces. Although there is a rich literature on the economic effects of government decentralization from both developed and developing countries, these effects have not been examined widely in the context of Turkish local governments. The authors first describe changes since the early 1980s and recent reform efforts. They then provide an empirical analysis of the effects of decentralization in Turkish provinces using cross-sectional and panel data approaches. The panel dataset consists of 67 provinces from 1976 to 2001. The analysis examines whether variations in local decentralization across these provinces and across time have had a significant impact on economic development and growth in those provinces. The findings suggest a weak negative economic effect of decentralization through a number of municipalities per capita. However, the findings do not show any significant impact from the creation of new provinces by separation from the existing ones. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/18/2009 , Also available in print.
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  • 153
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4728
    Parallel Title: Fafchamps, Marcel Determinants of choice of migration destination
    Keywords: Amenity migration ; Migration, Internal ; Amenity migration ; Migration, Internal
    Abstract: "Internal migration plays an important role in moderating regional differences in well-being. This paper analyzes migrants' choice of destination, using Census and Living Standard Surveys data from Nepal. The paper examines how the choice of a migration destination is influenced by income differentials, distance, population density, social proximity, and amenities. The study finds population density and social proximity to have a strong significant effect: migrants move primarily to high population density areas where many people share their language and ethnic background. Better access to amenities is significant as well. Differentials in expected income and consumption expenditures across districts are found to be relatively less important in determining migration destination choice as their effects are smaller in magnitude than those of other determinants. The results of the study suggest that an improvement in amenities (such as the availability of paved roads) at the origin could slow down out-migration substantially. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/18/2009 , Also available in print.
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  • 154
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4740
    Parallel Title: Wodon, Quentin Assessing the potential impact on poverty of rising cereals prices
    Keywords: Grain Prices ; Poverty ; Grain Prices ; Poverty
    Abstract: "Concerns have been raised about the impact of rising food prices worldwide on the poor. To assess the (short term) impact of rising food prices in any particular country it is necessary to look at both the impact on food producers (who benefit from an increase in prices) and food consumers (who loose out when the price increases), with a focus on poor producers and consumers. In Ghana, the impact of a change in the price of rice is not ambiguous because a large share of the rice consumed is imported, so that the negative impact for consumers is much larger than the positive impact for producers. For maize by contrast, the impact is ambiguous since much of the consumption is locally produced. Using a recent and comprehensive household survey, this paper provides an assessment of the potential impact of higher food prices on the poor in Ghana using both simple statistical analysis and non-parametric methods. The paper finds that rising food prices for rice, maize, and other cereals would together lead to an increase in poverty, but that by contrast to a number of other countries, this increase, while not negligible, may not be as large as feared. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/12/2009 , Also available in print.
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  • 155
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4743
    Parallel Title: Coulombe, Harold Assessing the geographic impact of higher food prices in Guinea
    Keywords: Food prices ; Poverty ; Food prices ; Poverty
    Abstract: "Telling a policy maker that poverty will increase due to the recent increase in food prices is not very useful; telling the policy makers where the impact is likely to be larger is better, so that measures to cope with the impact of the crisis can be targeted to areas that need them the most. This paper shows how to use poverty mapping techniques to assess where higher food prices are likely to hurt the most using Guinea census and survey data as a case study. The results suggest that in the case of a rice price increase, the poorest areas of the country will not be the hardest hit, especially if the potential positive impact of higher food prices on rice producers is taken into account, in which case poverty may decline in some of these areas even if for the country as a whole poverty will increase significantly due to the large share of rice in the household consumption budget. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/12/2009 , Also available in print.
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  • 156
    Language: English
    Pages: Online-Ressource
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    Series Statement: Policy research working paper 4747
    Parallel Title: Milanovic, Branko Political alternation as a restraint on investing in influence
    Keywords: Post-communism Politics and government ; Post-communism Politics and government
    Abstract: "The authors develop and implement a method for measuring the frequency of changes in power among distinct leaders and ideologically distinct parties that is comparable across political systems. The authors find that more frequent alternation in power is associated with the emergence of better governance in post communist countries. The results are consistent with the hypothesis that firms seek durable protection from the state, which implies that expected political alternation is relevant to the decision whether to invest in influence with the governing party or, alternatively, to demand institutions that apply predictable rules, with equality of treatment, regardless of the party in power. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/12/2009 , Also available in print.
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  • 157
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4756
    Parallel Title: Caprio, Gerard The 2007 meltdown in structured securitization
    Keywords: Asset-backed financing ; Financial crises ; Asset-backed financing ; Financial crises
    Abstract: "The intensity of recent turbulence in financial markets has surprised nearly everyone. This paper searches out the root causes of the crisis, distinguishing them from scapegoating explanations that have been used in policy circles to divert attention from the underlying breakdown of incentives. Incentive conflicts explain how securitization went wrong, why credit ratings proved so inaccurate, and why it is superficial to blame the crisis on mark-to-market accounting, an unexpected loss of liquidity, or trends in globalization and deregulation in financial markets. The analysis finds disturbing implications of the crisis for Basel II and its implementation. The paper argues that the principal source of financial instability lies in contradictory political and bureaucratic incentives that undermine the effectiveness of financial regulation and supervision in every country in the world. The paper concludes by identifying reforms that would improve incentives by increasing transparency and accountability in government and industry alike. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/12/2009 , Also available in print.
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  • 158
    Language: English
    Pages: Online-Ressource
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    Series Statement: Policy research working paper 4694
    Parallel Title: Del Carpio, Ximena V Does child labor always decrease with income?
    Keywords: Child labor ; Income ; Child labor ; Income
    Abstract: "This paper investigates the relationship of household income with child labor. The analysis uses a rich dataset obtained in the context of a conditional cash transfer program in a poor region of Nicaragua in 2005 and 2006. The program has a strong productive emphasis and seeks to diversify the work portfolio of beneficiaries while imposing conditionalities on the household. The author develops a simple model that relates child labor to household income, preferences, and production technology. It turns out that child labor does not always decrease with income; the relationship is complex and exhibits an inverted-U shape. Applying the data to the model confirms that the relationship is concave when all children (8-15 years of age) are included in the sample. Expanding the analysis by stratifying the sample by age and gender shows that the relationship holds only for older children, both genders. The author investigates the effect of the conditional cash transfer program on child labor. The results show that the program has a decreasing effect on total hours of work for the full sample of children. Disentangling labor into two types - physically demanding labor and non-physical labor - reveals that the program has opposite effects on each type; it decreases physically demanding labor while increasing participation in non-physical (more intellectually oriented) tasks for children. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/20/2009 , Also available in print.
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  • 159
    Language: English
    Pages: Online-Ressource
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    Series Statement: Policy research working paper 4791
    Parallel Title: Varella Mollick, Andre Does inflation targeting matter for output growth?
    Keywords: Inflation targeting ; Inflation targeting
    Abstract: "This paper examines the effects of inflation targeting on industrial and emerging economies' output growth over the "globalization years" of 1986-2004. Controlling for trade openness and two indicators of financial globalization, the authors find systematic positive and significant effects of inflation targeting on real output growth. In dynamic models, the findings show strong output persistence in industrial economies, in which partial and full inflation targeting regimes have a positive long-run impact on growth. In emerging markets, only full inflation targeting policies have any output effect in the long-run. The results suggest that strict inflation targeting is needed to make the discipline effect of the disinflation process outweigh the output costs of promoting high interest rates to attract capital flows in a global world. These findings are robust to the treatment of endogenous globalization measures. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/8/2009 , Also available in print.
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  • 160
    Language: English
    Pages: Online-Ressource
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    Series Statement: Policy research working paper 4794
    Parallel Title: Lin, Justin Yifu Endogenous institution formation under a catching-up strategy in developing countries
    Keywords: Institution building ; Institution building
    Abstract: "This paper explores endogenous institution formation under a catching-up strategy in developing countries. Since the catching-up strategy is normally against the compartive advantages of the developing countries, it can not be implemented through laissez-faire market mechanisms, and a government needs to establish nonmarket institutions to implement the strategy. In a simple two-sector model, the authors show that an institutional complex of price distortion, output control, and a directive allocation system is sufficient to implement the best allocation for the catching-up strategy. Furthermore, removing any of the three components will make it no longer implementable. The analysis also compares the best allocation and prices under the catching-up strategy with their counterparts under no distortions. The results of this paper provide important implications for understanding the institution formation in the developing countries that were pursuing a catching-up strategy after World War II. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/8/2009 , Also available in print.
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  • 161
    Language: English
    Pages: Online-Ressource
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    Series Statement: Policy research working paper 4795
    Parallel Title: Angel-Urdinola, Diego F Can the introduction of a minimum wage in fyr Macedonia decrease the gender wage gap ?
    Keywords: Minimum wage ; Sex discrimination in employment ; Wages Women ; Minimum wage ; Sex discrimination in employment ; Wages Women
    Abstract: "This paper relies on a simple framework to understand the gender wage gap in Macedonia, and simulates how the gender wage gap would behave after the introduction of a minimum wage. First, it presents a new - albeit simple - decomposition of the wage gap into three factors: (i) a wage level factor, which measures the extent to which the gender gap is driven by differences in wage levels among low-skilled workers of opposite sex; (ii) a skills endowment factor, which quantifies the extent to which the gender wage gap is driven by the difference in the share of high-skilled workers by gender; and (iii) returns to education, which measures the extent to which the gender gap is driven by differences by gender in returns to education. Second, the paper presents simple set of simulations that indicate that the introduction of a minimum wage in Macedonia could contribute to decrease the gender wage gap by up to 23 percent. Nevertheless, in order to significantly improve the wage gap, a rather high minimum wage may be required, which may contribute to reductions in employment. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/8/2009 , Also available in print.
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  • 162
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4792
    Parallel Title: Dethier, Jean-Jacques Explaining enterprise performance in developing countries with business climate survey data
    Keywords: Industrial productivity ; Industrial productivity ; Developing countries Economic conditions ; Developing countries Economic conditions
    Abstract: "This paper surveys the recent literature which examines the impact of business climate variables on productivity and growth in developing countries using enterprise surveys. Comparable enterprise surveys today cover some 70,000 firms in over 100 countries around the world. The literature that has analyzed this data provides evidence that a good business climate drives growth by encouraging investment and higher productivity. Various infrastructure, finance, security, competition and regulation variables have been shown to significantly impact firm performance. Section 1 of this paper outlines the theoretical framework that underpins the investment climate literature. Section 2 describes the available datasets and surveys the key findings of the empirical literature, first macroeconomic and then microeconomic studies. Particular attention is paid to the robustness of the reported results. Section 3 highlights important econometric issues common to this literature and suggests a research agenda and possible improvements in survey design. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/8/2009 , Also available in print.
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  • 163
    Language: English
    Pages: Online-Ressource
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    Series Statement: Policy research working paper 4798
    Parallel Title: Beegle, Kathleen Migration and economic mobility in Tanzania
    Keywords: Migration, Internal ; Migration, Internal
    Abstract: "This study explores the extent to which migration has contributed to improved living standards of individuals in Tanzania. Using longitudinal data on individuals, the authors estimate the impact of migration on consumption growth between 1991 and 2004. The analysis addresses concerns about heterogeneity and unobservable factors correlated with both income changes and the decision to migrate. The findings show that migration adds 36 percentage points to consumption growth, during a period of considerable growth in consumption. These results are robust to numerous tests and alternative specifications. Unpacking the findings, the analysis finds that moving out of agriculture is correlated with much higher growth than staying in agriculture, although growth is always higher in any sector if one physically moves. Economic mobility is strongly linked to geographic mobility. The puzzle is why more people do not move if returns to geographic mobility are high. The evidence is consistent with models in which exit barriers are set by home communities (through social and family norms) that prevent migration of certain categories of people. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/8/2009 , Also available in print.
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  • 164
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4696
    Parallel Title: Berger, Allen N Bank competition and financial stability
    Abstract: "Under the traditional "competition-fragility" view, more bank competition erodes market power, decreases profit margins, and results in reduced franchise value that encourages bank risk taking. Under the alternative "competition-stability" view, more market power in the loan market may result in greater bank risk as the higher interest rates charged to loan customers make it more difficult to repay loans and exacerbate moral hazard and adverse selection problems. But even if market power in the loan market results in riskier loan portfolios, the overall risks of banks need not increase if banks protect their franchise values by increasing their equity capital or engaging in other risk-mitigating techniques. The authors test these theories by regressing measures of loan risk, bank risk, and bank equity capital on several measures of market power, as well as indicators of the business environment, using data for 8,235 banks in 23 developed nations. The results suggest that - consistent with the traditional "competition-fragility" view - banks with a greater degree of market power also have less overall risk exposure. The data also provide some support for one element of the "competition-stability" view - that market power increases loan portfolio risk. The authors show that this risk may be offset in part by higher equity capital ratios. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/18/2009 , Also available in print.
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  • 165
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4705
    Parallel Title: Sabarwal, Shwetlena Does gender matter for firm performance?
    Keywords: Businesswomen ; Businesswomen ; Women-owned business enterprises ; Women-owned business enterprises ; Businesswomen ; Businesswomen ; Women-owned business enterprises ; Women-owned business enterprises
    Abstract: "Using 2005 firm level data for 26 countries in Eastern and Central Europe, this paper estimates performance gaps between male and female-owned businesses, while controlling for location by industry and country. The findings show that female entrepreneurs have a significantly smaller scale of operations (as measured by sales revenues) and are less efficient in terms of total factor productivity, although the difference is small. However, women entrepreneurs generate the same amount of profit per unit of revenue as men. Although both male and female entrepreneurs in the region are sub-optimally small, women's returns to scale are significantly larger than men's, implying that women would gain more from increasing their scale. The authors argue that the main reasons for the sub-optimal size of female-owned firms are that they are both capital constrained and concentrated in industries with small firms. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/18/2009 , Also available in print.
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  • 166
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4712
    Parallel Title: Calderán, César Infrastructure and economic development in Sub-Saharan Africa
    Keywords: Income distribution ; Infrastructure (Economics) ; Income distribution ; Infrastructure (Economics)
    Abstract: "An adequate supply of infrastructure services has long been viewed by both academics and policy makers as a key ingredient for economic development. Sub-Saharan Africa ranks consistently at the bottom of all developing regions in terms of infrastructure performance, and an increasing number of observers point to deficient infrastructure as a major obstacle for growth and poverty reduction across the region. This paper offers an empirical assessment of the impact of infrastructure development on growth and inequality, with a focus on Sub-Saharan Africa. The paper uses a comparative cross-regional perspective to place Africa's experience in the international context. Drawing from an updated data set of infrastructure quantity and quality indicators covering more than 100 countries and spanning the years 1960-2005, the paper estimates empirical growth and inequality equations including a standard set of control variables augmented by infrastructure quantity and quality measures, and controlling for the potential endogeneity of the latter. The estimates illustrate the potential contribution of infrastructure development to growth and equity across Africa. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/18/2009 , Also available in print.
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  • 167
    Language: English
    Pages: Online-Ressource
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    Series Statement: Policy research working paper 4730
    Parallel Title: Fernandes, Ana Margarida Foreign direct investment in services and manufacturing productivity growth
    Keywords: Industrial productivity ; Investments, Foreign ; Industrial productivity ; Investments, Foreign
    Abstract: "During the 1990s, foreign direct investment in producer service sectors in Latin America was massive. Such investment may increase the quality of services, reduce their cost, and offer opportunities for knowledge spillovers to downstream users of the services. This paper examines the effects of foreign direct investment in services on manufacturing productivity growth in Chile between 1992 and 2004. The authors estimate an extended production function where plant output growth depends on input growth and a weighted measure of foreign direct investment in services. The novelty of the approach is that the authors are able to assess the intensity of usage of various types of services at the plant level and use that information in the estimation of the importance of foreign direct investment in those services. The econometric results show a positive and significant effect of foreign direct investment in services on productivity growth of Chilean manufacturing plants which is robust to a multitude of tests. The economic impact of the estimates is that forward linkages from foreign direct investment in services account for almost 5 percent of the observed increase in Chilean manufacturing productivity growth during the sample period. This evidence therefore suggests that reducing the barriers restricting foreign direct investment in services in many developing economies may help accelerate productivity growth in their manufacturing sectors. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/12/2009 , Also available in print.
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  • 168
    Language: English
    Pages: Online-Ressource
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    Series Statement: Policy research working paper 4768
    Parallel Title: Available in another form Macro-micro feedback links of water management in South Africa
    Keywords: South Africa Economic conditions ; Water-supply ; South Africa Economic conditions ; Water-supply
    Abstract: "The pressure on an already stressed water situation in South Africa is predicted to increase significantly under climate change, plans for large industrial expansion, observed rapid urbanization, and government programs to provide access to water to millions of previously excluded people. The present study employed a general equilibrium approach to examine the economy-wide impacts of selected macro and water related policy reforms on water use and allocation, rural livelihoods, and the economy at large. The analyses reveal that implicit crop-level water quotas reduce the amount of irrigated land allocated to higher-value horticultural crops and create higher shadow rents for production of lower-value, water-intensive field crops, such as sugarcane and fodder. Accordingly, liberalizing local water allocation in irrigation agriculture is found to work in favor of higher-value crops, and expand agricultural production and exports and farm employment. Allowing for water trade between irrigation and non-agricultural uses fueled by higher competition for water from industrial expansion and urbanization leads to greater water shadow prices for irrigation water with reduced income and employment benefits to rural households and higher gains for non-agricultural households. The analyses show difficult tradeoffs between general economic gains and higher water prices, making irrigation subsidies difficult to justify. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/12/2009 , Also available in print.
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  • 169
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4787
    Parallel Title: Raddatz, Claudio E Pension funds and capital market development
    Keywords: Capital market ; Pension trusts ; Capital market ; Pension trusts
    Abstract: "This paper studies the relation between institutional investors and capital market development by analyzing unique data on monthly asset-level portfolio allocations of Chilean pension funds between 1995 and 2005. The results depict pension funds as large and important institutional investors that tend to hold a large amount of bank deposits, government paper, and short-term assets; buy and hold assets in their portfolios without actively trading them; hold similar portfolios at the asset-class level; simultaneously buy and sell similar assets; and follow momentum strategies when trading. Although pension funds may have contributed to the development of certain primary markets, these patterns do not seem fully consistent with the initial expectations that pension funds would be a dynamic force driving the overall development of capital markets. The results do not appear to be explained by regulatory restrictions. Instead, asset illiquidity and manger incentives might be behind the patterns illustrated in this paper. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/8/2009 , Also available in print.
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  • 170
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4789
    Parallel Title: De Hoyos, Rafael E Can maquila booms reduce poverty?
    Keywords: Offshore assembly industry ; Poverty ; Women Employment ; Offshore assembly industry ; Poverty ; Women Employment
    Abstract: "This paper identifies and estimates the strength of the reduction in poverty linked to improved opportunities for women in the expanding maquila sector. A simulation exercise shows that, at a given point in time, poverty in Honduras would have been 1.5 percentage points higher had the maquila sector not existed. Of this increase in poverty, 0.35 percentage points is attributable to the wage premium paid to maquila workers, 0.1 percentage points to the wage premium received by women in the maquila sector, and 1 percentage point to employment creation. Given that female maquila workers represent only 1.1 percent of the active population in Honduras, this contribution to poverty reduction is significant. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/8/2009 , Also available in print.
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  • 171
    Language: English
    Pages: Online-Ressource
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    Series Statement: Policy research working paper 4671
    Parallel Title: Clemens, Michael A The place premium
    Keywords: Pay equity ; Pay equity
    Abstract: "This paper compares the wages of workers inside the United States to the wages of observably identical workers outside the United States-controlling for country of birth, country of education, years of education, work experience, sex, and rural-urban residence. This is made possible by new and uniquely rich microdata on the wages of over two million individual formal-sector wage-earners in 43 countries. The paper then uses five independent methods to correct these estimates for unobserved differences and introduces a selection model to estimate how migrants' wage gains depend on their position in the distribution of unobserved wage determinants. Following all adjustments for selectivity and compensating differentials, the authors estimate that the wages of a Bolivian worker of equal intrinsic productivity, willing to move, would be higher by a factor of 2.7 solely by working in the United States. While this is the median, this ratio is as high as 8.4 (for Nigeria). The paper documents that (1) for many countries, the wage gaps caused by barriers to movement across international borders are among the largest known forms of wage discrimination; (2) these gaps represent one of the largest remaining price distortions in any global market; and (3) these gaps imply that simply allowing labor mobility can reduce a given household's poverty to a much greater degree than most known in situ antipoverty interventions. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/20/2009 , Also available in print.
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  • 172
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4675
    Parallel Title: Kinda, Tidiane Small enterprise growth and the rural investment climate
    Keywords: Rural industries ; Small business ; Rural industries ; Small business
    Abstract: "This paper analyzes characteristics of nonfarm enterprises, their employment growth patterns, and constraints in doing business in rural Tanzania. Using unique survey data, the authors describe a low-return sector struggling to compete in a difficult business environment. However, about one-third of rural enterprises are growing fast. Most enterprises engage in agricultural trade. Due to a rapidly growing agricultural sector in recent years, limiting demand-side constraints, rural enterprise constraints in Tanzania mainly operate from the supply side. This suggests that, in particular, access to finance, road infrastructure, and rural cell phone communication is correlated with employment growth. A major finding is that subjective and objective measurements of business constraints are broadly comparable. The authors discuss a number of factors that would help to unleash the full potential of private sector-led growth in rural areas. The findings show that marginal improvements in the rural investment climate matter for growth. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/20/2009 , Also available in print.
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  • 173
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4678
    Parallel Title: Labonne, Julien Do community-driven development projects enhance social capital?
    Keywords: Community development ; Social capital (Sociology) ; Community development ; Social capital (Sociology)
    Abstract: "This paper explores the social capital impacts of a large-scale, community-driven development project in the Philippines in which communities competed for block grants for infrastructure investment. The analysis uses a unique data set of about 2,100 households collected before the project started (2003) and after one cycle of sub-project implementation (2006) in 66 treatment and 69 matched control communities. Participation in village assemblies, the frequency with which local officials meet with residents and trust towards strangers increased as a result of the project. However, there is a decline in group membership and participation in informal collective action activities. This may have been because households were time-constrained, so that in order to participate in project activities, they needed to temporarily reduce their participation in informal activities. An alternative explanation is that the project improved the efficiency of formal forms of social capital and thus households needed to rely less on informal forms. Finally, the results indicate that, in the short run, the project might have reduced the number of other investments. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/20/2009 , Also available in print.
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  • 174
    Language: English
    Pages: Online-Ressource
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    Series Statement: Policy research working paper 4681
    Parallel Title: Marouani, Mohamed Ali Assessing interactions among education, social insurance, and labor market policies in a general equilibrium framework
    Keywords: Job creation ; Unemployment ; Job creation ; Unemployment
    Abstract: "This paper develops a general equilibrium model to analyze the marginal and joint impacts that alternative macroeconomic, education, and social protection policies have on the dynamics of employment and unemployment by skill level. The model introduces a disaggregated treatment of the labor market that incorporates an informal sub-sector in every sector of the economy. The analysis explicitly models the distribution of skills in the labor force by following over time sex-age cohorts across various levels of the education system and in the labor market. And it integrates a module that projects the revenues and expenditures of the pension system. The model is applied to the case of Morocco. Simulations show that even under positive assumptions regarding economic growth, unemployment rates are likely to remain close to current levels in the next decade. The paper argues that only an integrated package of policies that affect the macro-economy, the investment climate, and the education and social protection systems would allow sustainable creation of enough "good quality" jobs. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/20/2009 , Also available in print.
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  • 175
    Language: English
    Pages: Online-Ressource
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    Series Statement: Policy research working paper 4684
    Parallel Title: Elbadawi, Ibrahim Referendum, response, and consequences for Sudan
    Keywords: Referendum ; Referendum
    Abstract: "This paper presents a game theory model of the strategic interaction between Khartoum and Juba leading up to the referendum on Sudan's partition in 2011. The findings show that excessive militarization and brinksmanship is a rational response for both actors, neither of which can credibly commit to lower levels of military spending under the current status quo. This militarization is often at the expense of health and education expenditures, suggesting that the opportunity cost of militarization is foregone economic development. These credibility issues might be resolved by democratization, increased transparency, reduction of information asymmetries, and efforts to promote economic and political cooperation. The paper explores these devices, demonstrating how they can contribute to Pareto preferred outcomes in equilibrium. The authors characterize the military expenditure associated with the commitment problem experienced by both sides, estimate its costs from data for Sudan, and identify the opportunity cost of foregone development implied by continued, excessive, and unsustainable militarization. "--World Bank web site
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  • 176
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
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    Series Statement: Policy research working paper 4687
    Parallel Title: Gozzi, Juan Carlos Patterns of international capital raisings
    Keywords: Investments, Foreign ; Investments, Foreign
    Abstract: "This paper documents several new patterns associated with firms issuing securities in foreign markets that motivate the need for and help guide future research. Besides noting that these international capital raisings grew almost four-fold from 1991 to 2005, accounting for 35 percent of all capital raised through security issuances, the paper has three main findings. First, a large and growing fraction of capital raisings, especially debt issuances, occurs in international markets, but a very small number of firms accounts for the bulk of international capital raisings, highlighting the distributional implications of financial globalization. Second, changes in firm performance following equity and debt issuances in international markets are qualitatively similar to those following domestic issuances, suggesting that capital raisings abroad are not intrinsically different from domestic ones. Third, after firms start accessing international markets, they significantly increase the amount raised in domestic markets, suggesting that international and domestic markets are complements. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/20/2009 , Also available in print.
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  • 177
    Language: English
    Pages: Online-Ressource
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    Series Statement: Policy research working paper 4688
    Parallel Title: Fox, M. Louise Are skills rewarded in Sub-Saharan Africa?
    Keywords: Labor productivity ; Manufacturing industries ; Wages ; Labor productivity ; Manufacturing industries ; Wages
    Abstract: "Using recent matched employer-employee data from the manufacturing sector in 20 Sub-Saharan African countries, the authors analyze how the supply of skills and legal origin of the country affect the wage setting process. The wage analysis yields three main findings. First, increasing returns to education, especially for older workers, suggest that the expansion of education in Africa has reduced returns to education for entrants in the labor market. Second, age effects matter not just for returns to education, but also for the wage setting process more generally. In particular, in civil-law countries, returns to seniority are rewarded only after a certain age. Third, workers exercise some power in the wage setting process but their influence varies by linguistic group. In common-law countries, union presence benefits all workers equally, not just members, whereas in civil-law countries, only older members enjoy higher wages. The authors also contrast wage premia with relative marginal productivities for different age, occupation, and education categories. The findings show that in general, older, highly educated, and highly ranked workers receive wage premia that do not reflect a higher relative marginal productivity. "--World Bank web site
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  • 178
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
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    Series Statement: Policy research working paper 4692
    Parallel Title: Bodea, Cristina Political violence and economic growth
    Keywords: Economic development ; Political violence ; Economic development ; Political violence
    Abstract: "This paper analyzes the economic growth impact of organized political violence. First, the authors articulate the theoretical underpinnings of the growth impact of political violence in a popular model of growth under uncertainty. The authors show that, under plausible assumptions regarding attitudes toward risk, the overall effects of organized political violence are likely to be much higher than its direct capital destruction impact. Second, using a quantitative model of violence that distinguishes between three levels of political violence (riots, coups, and civil war), the authors use predicted probabilities of aggregate violence and its three manifestations to identify their growth effects in an encompassing growth model. Panel regressions suggest that organized political violence, especially civil war, significantly lowers long-term economic growth. Moreover, unlike most previous studies, the authors also find ethnic fractionalization to have a negative and direct effect on growth, though its effect is substantially ameliorated by the institutions specific to a non-factional partial democracy. Third, the results show that Sub-Saharan Africa has been disproportionately impacted by civil war, which explains a substantial share of its economic decline, including the widening income gap relative to East Asia. Civil wars have also been costly for Sub-Saharan Africa. For the case of Sudan, a typical large African country experiencing a long-duration conflict, the cost of war amounts to
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/20/2009 , Also available in print.
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  • 179
    Language: English
    Pages: Online-Ressource
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    Series Statement: Policy research working paper 4699
    Parallel Title: McKenzie, David Who is coming from Vanuatu to New Zealand under the new recognized Seasonal Employer Program ?
    Keywords: Seasonal labor ; Seasonal labor ; Seasonal labor ; Seasonal labor
    Abstract: "New Zealand's new Recognized Seasonal Employer program allows workers from the Pacific Islands to come to New Zealand for up to seven months to work in the horticulture and viticulture industries. One of the explicit objectives of the program is to encourage economic development in the Pacific. This paper reports the results of a baseline survey taken in Vanuatu, which the authors use to examine who wants to participate in the program, and who is selected among those interested. The findings show that the main participants are males in their late 20s to early 40s, and most are married and have children. Most workers are subsistence farmers in Vanuatu and have not completed more than 10 years of schooling. Such workers would be unlikely to be accepted under existing migration channels. Nevertheless, the program workers from Vanuatu tend to come from wealthier households, and have better English literacy and health than individuals not applying for the program. Lack of knowledge about the policy and the costs of applying appear to be the main barriers preventing poorer individuals applying. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/18/2009 , Also available in print.
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  • 180
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
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    Series Statement: Policy research working paper 4700
    Parallel Title: Luo, Xubei Rising income inequality in China
    Keywords: Income Regional disparities ; Income distribution ; Income Regional disparities ; Income distribution
    Abstract: "Income inequality in China has risen rapidly in the past decades across regions, between rural and urban sectors, and within provinces. The dynamics of divergence across these sub-national areas have taken the form of a "race to the top" - meaning that all segments of the population, including the poor with low education in lagging inland rural areas, have experienced gains in average income. The largest gains have been registered by those with higher income and education in leading coastal urban areas. Using the China Economic, Population, Nutrition and Health Survey data of 1989 and 2004, we show that the most important factors explaining overall inequality are differential returns to schooling and sector of employment. A decomposition analysis based on household income determination shows that the increase in returns to education explains two-thirds of income changes in urban areas and one-sixth in rural areas. The widening income gaps are the consequence of higher growth in leading urban and coastal areas and that the skilled population has benefited more from the economic reforms carried out during the last 25 years. The authors argue that rising income inequality can be part of a normal process of development at a certain stage, and that the dynamics of spatial income divergence in the form of "a race to the top" can be desirable to some extent as it unleashes competitive pressure and creates incentives for investment in skills. Continuing to improve market efficiency and investing in people, in particular improving education service in lagging areas to poor people, are important for sustainable growth and equitable distribution in the long run. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/18/2009 , Also available in print.
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  • 181
    Language: English
    Pages: Online-Ressource
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    Series Statement: Policy research working paper 4703
    Parallel Title: Chen, Shaohua The developing world is poorer than we thought, but no less successful in the fight against poverty
    Keywords: Poverty ; Poverty
    Abstract: "The paper presents a major overhaul to the World Bank's past estimates of global poverty, incorporating new and better data. Extreme poverty-as judged by what "poverty" means in the world's poorest countries-is found to be more pervasive than we thought. Yet the data also provide robust evidence of continually declining poverty incidence and depth since the early 1980s. For 2005 we estimate that 1.4 billion people, or one quarter of the population of the developing world, lived below our international line of
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/18/2009 , Also available in print.
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  • 182
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4714
    Parallel Title: Paxton, Pamela Marie Individual and country-level factors affecting support for foreign aid
    Keywords: Economic assistance ; Economic assistance
    Abstract: "In recent years donor countries have committed to dramatic increases in the supply of foreign aid to developing countries. Meeting and sustaining such commitments will require sufficient support among donor country voters and taxpayers. The determinants of public opinion in donor countries on foreign aid have received little attention. This paper examines attitudes to foreign aid with a large, multi-level, cross-national study. It outlines a theoretical rationale for support for foreign aid, discussing the importance of both individual factors and economic and social structures. The theory is tested with multi-level models, including both individual-level and country-level variables to predict positive attitudes. Two datasets are used to measure attitudes in donor countries: (1) the 1995 World Values Survey has information from approximately 6,000 individuals in nine countries and asks a rich battery of questions at the individual-level, and (2) the 2002 Gallup "Voice of the People" survey asks fewer questions of individuals but includes 17 donor countries. Using both surveys combines their distinct strengths and allows tests of individual and national-level theories across disparate samples. The results generally support the predictions that attitudes toward aid are influenced by religiosity, beliefs about the causes of poverty, awareness of international affairs, and trust in people and institutions. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/18/2009 , Also available in print.
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  • 183
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4717
    Parallel Title: Kurukulasuriya, Pradeep How will climate change shift agro-ecological zones and impact African agriculture ?
    Keywords: Agriculture Environmental aspects ; Climatic changes ; Agriculture Environmental aspects ; Climatic changes
    Abstract: "The study develops a new method to measure the impacts of climate change on agriculture called the Agro-Ecological Zone (AEZ) Model. A multinomial logit is estimated to predict the probability of each AEZ in each district. The average percentage of cropland and average crop net revenue are calculated for each AEZ. Then an estimate of the amount of cropland in Africa and where it is located is provided. Using current conditions, the model calculates baseline values of cropland and crop net revenue, and estimates the future impact of climate change using two scenarios-harsh and mild. Total cropland does not change much across the two climate scenarios. However, the predicted change in African crop revenue ranges from a loss of 14 percent in the mild climate scenario to 30 percent in the harsher climate scenario. The analysis reveals that the greatest harm from climate change is that it will shift farms from high to low productive AEZs. The approach not only identifies the aggregate impacts, but also indicates where the impacts occur across Africa. The central region of Africa is hurt the most, especially in the harsher climate scenario. The Agro-Ecological Zone Model is a promising new method for valuing the long-term impacts of climate change on agriculture. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/18/2009 , Also available in print.
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  • 184
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4718
    Parallel Title: Available in another form Black hole or black gold?
    Keywords: Finance, Public ; Petroleum industry and trade ; Petroleum products Prices ; Finance, Public ; Petroleum industry and trade ; Petroleum products Prices
    Abstract: "Indonesia's oil revenues and fuel subsidies dominate the nation's economic policy agenda. This paper estimates the impact of higher international oil prices on the Indonesian government's fiscal position in 2008 and beyond. It analyzes the interactions between government revenues and expenditures, as well as international oil prices, energy subsidies, and inter-governmental transfers. Looking at the impact of oil prices over US
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  • 185
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4720
    Parallel Title: Dayoub, Mariam General trends in competition policy and investment regulation in mandatory defined contribution markets in Latin America
    Keywords: Pension trusts ; Pension trusts
    Abstract: "Following Chile's pension reform in 1981, a wave of multi-pillar pension reforms took place in Latin America (LAC). Their implementation has revealed new policy challenges. To shed light on these issues, this paper reviews the structure and performance of mandatory DC pillars in LAC. The review highlights three important points. First, it suggests overall positive outcomes from reforms in the LAC countries that implemented multi-pillar pension systems. There is, however, scope for increasing efficiency. Second, management fees have declined but remain relatively high whereas decreases in operational costs have only been partially passed through to consumers reflecting inadequate competition. Limits on transfers and related measures have been ineffective in curtailing management fees but created new barriers to entry. In recent years, a few countries in LAC introduced or are in the process of introducing a combination of new measures that focus more directly on the two root causes of inadequate competition - the inelasticity of demand to fees and selective elimination of barriers to entry by facilitating unbundling of services. These new measures show some promise. Third, the paper's review indicates that a greater diversification of pension fund portfolios in LAC appears to be necessary. Portfolio concentration owes to the adoption of strict quantitative investment regulations, underdeveloped capital markets and volatile macroeconomic environments. A gradual relaxation of these restrictions is now in progress in several countries. Regulators have become more conscious of the costs imposed by such regulations and macroeconomic conditions have improved. Greater overseas diversification seems inevitable given the development stage of local capital markets. "--World Bank web site
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  • 186
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4724
    Parallel Title: Douidich, Mohammed Simulating the impact of geographic targeting on poverty alleviation in Morocco
    Keywords: Economic assistance, Domestic ; Poverty Research ; Economic assistance, Domestic ; Poverty Research
    Abstract: "The authors employ the recently completed "poverty map" for Morocco, referring to the year 2004, as a tool for an ex-ante evaluation of the distributional incidence of geographic targeting of public resources. They simulate the impact on poverty of transferring an exogenously given budget to geographically defined sub-groups of the population according to their relative poverty status. In both rural and urban areas, the findings reveal large gains from targeting smaller administrative units, such as communes or districts. However, these gains are still far from the poverty reduction that would be possible had the planners had access to information on household level income or consumption. The results indicate that a useful way forward might be to combine fine geographic targeting using a poverty map with within-community targeting mechanisms. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/18/2009 , Also available in print.
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  • 187
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4727
    Parallel Title: Abbink, Klaus The relevance of a rules-based maize marketing policy
    Keywords: Corn Marketing ; Corn Marketing
    Abstract: "Strategic interaction between public and private actors is increasingly recognized as an important determinant of agricultural market performance in Africa and elsewhere. Trust and consultation tend to positively affect private activity while uncertainty of government behavior impedes it. This paper reports on a laboratory experiment based on a stylized model of the Zambian maize market. The experiment facilitates a comparison between discretionary interventionism and a rules-based policy in which the government pre-commits itself to a future course of action. A simple precommitment rule can, in theory, overcome the prevailing strategic dilemma by encouraging private sector participation. Although this result is also borne out in the economic experiment, the improvement in private sector activity is surprisingly small and not statistically significant due to irrationally cautious choices by experimental governments. Encouragingly, a rules-based policy promotes a much more stable market outcome, thereby substantially reducing the risk of severe food shortages. These results underscore the importance of predictable and transparent rules for the state's involvement in agricultural markets. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/18/2009 , Also available in print.
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  • 188
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4732
    Parallel Title: Adams, Richard H. Jr The impact of remittances on poverty and inequality in Ghana
    Keywords: Emigrant remittances ; Migrant remittances ; Emigrant remittances ; Migrant remittances
    Abstract: "This paper uses a new, 2005/06 nationally-representative household survey to analyze the impact of internal remittances (from Ghana) and international remittances (from African and other countries) on poverty and inequality in Ghana. To control for selection and endogeneity, it uses a two-stage multinomial logit model with instrumental variables focusing on variations in migration networks and remittances among various ethno-religious groups in Ghana. The paper finds that both internal and international remittances reduce the level, depth, and severity of poverty in Ghana. However, the size of the poverty reduction depends on the type of remittances received. In general, poverty in Ghana is reduced more by international than internal remittances. For households receiving international remittances, the level of poverty falls by 88.1 percent with the inclusion of remittances; for households receiving internal remittances, poverty falls by 69.4 percent with the inclusion of remittances. The paper also finds that both types of remittances increase income inequality in Ghana. For households with internal remittances, the inclusion of remittances causes the Gini coefficient to rise by 4 percent, and for households with international remittances, the inclusion of remittances causes the Gini to increase by 17.4 percent. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/12/2009 , Also available in print.
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  • 189
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4736
    Parallel Title: Ahmed, Sadiq Making regional cooperation work for South Asia's poor
    DDC: 360
    Keywords: Poverty ; Poverty ; South Asia Economic conditions ; South Asia Economic integration ; South Asia Economic conditions ; South Asia Economic integration
    Abstract: "South Asia has attracted global attention because it has experienced rapid GDP growth over the last two decades. What is not so well known is that South Asia is the least integrated region in the world. South Asia has opened its door to the rest of the world but it remains closed to its neighbors. Poor market integration, weak connectivity, and a history of friction and conflict have resulted in two South Asias. The first South Asia is dynamic, growing rapidly, highly urbanized, and is benefiting from global integration. The second South Asia is rural, land locked, full of poverty, and lagging. The divergence between the two South Asias is on the rise. Policy makers in South Asia have realized that countries and regions can not grow in isolation. The unique geography of South Asia-distance and density--has the potential to raise growth through increased flow of labor, capital, ideas, technology, goods and services within the region and with the rest of the world. Most lagging regions, in terms of both per capita income and poverty incidence, in South Asia are either land-locked or located in the border areas. Regional cooperation and market integration will unlock the development of these lagging regions in South Asia. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/12/2009 , Also available in print.
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  • 190
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4739
    Parallel Title: Nouve, Kofi Impact of rising rice prices and policy responses in Mali
    Keywords: Poverty ; Rice Prices ; Poverty ; Rice Prices ; Mali Economic conditions ; Mali Economic conditions
    Abstract: "The increase in the international price of rice is likely to have substantial negative impacts on the poor in countries such as Mali which are net importers of rice. This paper relies on a dynamic CGE model to estimate the likely impact of the recent increase in rice prices on poverty with and without policy responses. Two sets of policy responses are considered: import tax cuts on rice and measures to increase productivity of domestic rice production. The results suggest that an increase in productivity would have a much larger positive impact than a reduction in taxes. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/12/2009 , Also available in print.
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  • 191
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4742
    Parallel Title: Tsimpo, Clarence Rice prices and poverty in Liberia
    Keywords: Poverty ; Rice Prices ; Poverty ; Rice Prices
    Abstract: "When assessing the impact of changes in food prices on poverty, it is important to consider food producers (who may benefit from an increase in prices) as well as consumers (who loose out when the price increases), with a focus on poor consumers and producers. In the case of rice in Liberia however, the impact of a change in price is not ambiguous because a large share of the rice consumed is imported, while the rice locally produced is used mostly for auto-consumption. An increase in the price of rice will result in higher poverty in the country as a whole (even if some local producers will gain from this increase), while a reduction in price will reduce poverty. Furthermore, because rice represents a large share of food consumption, any change in its price is likely to have a large impact on poverty. Using data from the 2007 CWIQ survey, the paper finds that an increase or decrease of 20 percent in the price of rice could lead to an increase or decrease of three to four percentage points in the share of the population in poverty. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/12/2009 , Also available in print.
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  • 192
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4745
    Parallel Title: Available in another form Potential impact of higher food prices on poverty
    Keywords: Food prices ; Food supply ; Poverty ; Food prices ; Food supply ; Poverty
    Abstract: "Concerns have been raised about the impact of rising food prices worldwide on the poor. To assess the impact of rising food prices in any particular country it is necessary to look at both the impact on food producers who are poor or near-poor and could benefit from an increase in prices and food consumers who are poor or near-poor and would loose out when the price increases. In most West and Central African countries, the sign (positive or negative) of the impact is not ambiguous because a substantial share of food consumption is imported, so that the negative impact for consumers is larger than the positive impact for net sellers of locally produced foods. Yet even if the sign of the impact is clear, its magnitude is not. Using a set of recent and comprehensive household surveys, this paper summarizes findings from an assessment of the potential impact of higher food prices on the poor in a dozen countries. Rising food prices for rice, wheat, maize, and other cereals as well as for milk, sugar and vegetable oils could lead to a substantial increase in poverty in many of the countries. At the same time, the data suggest that the magnitude of the increase in poverty between different countries is likely to be different. Finally, the data suggest that a large share of the increase in poverty will consist of deeper levels of poverty among households who are already poor, even if there will also be a larger number of poor households in the various countries. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/12/2009 , Also available in print.
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  • 193
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4748
    Parallel Title: Palmer, Edward The market for retirement products in Sweden
    Keywords: Health insurance ; Individual retirement accounts ; Pension trusts ; Health insurance ; Individual retirement accounts ; Pension trusts
    Abstract: "Far-reaching changes in the regulation of financial markets and the organization of public pensions in the 1980s and 1990s transformed the landscape for retirement products in Sweden. First, banking and insurance were extensively deregulated in the 1980s, while the securities markets experienced major expansion. Insurance received a large boost from the authorization of unit-linked products in the early 1990s. Second, the public pension system was reformed. Survivor benefits for widows were eliminated from the public pillar in the late 1980s, leading to a large increase in demand for term life insurance. The old defined benefit public pension system was replaced by a notional or nonfinancial defined contribution (NDC) scheme, while a funded defined contribution (FDC) component was also created in the public pillar. The four occupational pension funds that cover the majority of Swedish workers were also converted into FDC schemes. This paper reviews the implications of these changes for the Swedish annuity market. It discusses the regulation of payout options in Sweden, highlighting the compulsory use of life annuities in the public pillar and the preference for term annuities in the occupational funds. It examines the performance of providers of retirement products, including the PPM, and reviews the increasing focus on risk-based regulation and supervision. The paper also emphasizes Sweden's success in moving in the direction of increased funding and privatization of old age insurance, while maintaining its basic character as a highly developed welfare state. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/12/2009 , Also available in print.
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  • 194
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4751
    Parallel Title: Estevadeordal, Antoni Does regionalism affect trade liberalization toward non-members ?
    Keywords: Favored nation clause ; Tariff preferences ; Favored nation clause ; Tariff preferences
    Abstract: "This paper examines the effect of regionalism on unilateral trade liberalization using industry-level data on applied most-favored nation tariffs and bilateral preferences for ten Latin American countries from 1990 to 2001. The findings show that preferential tariff reduction in a given sector leads to a reduction in the external (most-favored nation) tariff in that sector. External liberalization is greater if preferences are granted to important suppliers. However, these "complementarity effects" of preferential liberalization on external liberalization do not arise in customs unions. Overall, the results suggest that concerns about a negative effect of preferential liberalization on external trade liberalization are unfounded. "--World Bank web site
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  • 195
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4754
    Parallel Title: Fabbri, Daniele Market power and the matching of trade credit terms
    Keywords: Credit ; Small business ; Credit ; Small business
    Abstract: "This paper studies the decision of firms to extend trade credit to customers and its relation with their financing decisions. The authors use a novel firm-level database of Chinese SMEs with unique information on market power in both output and input markets and on the amount, terms, and payment history of trade credit simultaneously extended to customers (accounts receivable) and received from suppliers (accounts payable). The analysis shows that suppliers with relatively weaker market power are more likely to extend trade credit and have a larger share of goods sold on credit. Examination of the importance of financial constraints reveals that access to bank financing and profitability are not significantly related to trade credit supply. Rather, firms that receive trade credit from their own suppliers are more likely to extend trade credit to their customers, and to "match maturity" between the contract terms of payables and receivables. This matching practice is more likely used when firms face strong competition in the product market (relative to their customers), and enjoy strong market power in the input market (relative to their suppliers). These results highlight the importance of supply chain financing for market competition and risk management in credit constrained firms. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/12/2009 , Also available in print.
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  • 196
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4759
    Parallel Title: Macours, Karen Cash transfers, behavioral changes, and cognitive development in early childhood
    Keywords: Kinderbetreuung ; Bildungsinvestition ; Öffentliche Sozialleistungen ; Bildungsverhalten ; Kognition ; Ländlicher Raum ; Nicaragua ; Child development ; Transfer payments ; Child development ; Transfer payments
    Abstract: "A variety of theories of skill formation suggest that investments in schooling and other dimensions of human capital will have lower returns if children do not have adequate levels of cognitive and social skills at an early age. This paper analyzes the impact of a randomized cash transfer program on cognitive development in early childhood in rural Nicaragua. It shows that the program had significant effects on cognitive outcomes, especially language. Impacts are larger for older pre-school age children, who are also more likely to be delayed. The program increased intake of nutrient-rich foods, early stimulation, and use of preventive health care-all of which have been identified as risk factors for development in early childhood. Households increased expenditures on these inputs more than can be accounted for by the increases in cash income only, suggesting that the program changed parents' behavior. The findings suggest that gains in early childhood development outcomes should be taken into account when assessing the benefits of cash transfer programs in developing countries. More broadly, the paper illustrates that gains in early childhood development can result from interventions that facilitate investments made by parents to reduce risk factors for cognitive development. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/12/2009 , Also available in print.
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  • 197
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4760
    Parallel Title: Dessus, Sébastien The short and longer term potential welfare impact of global commodity inflation in Tanzania
    Keywords: Inflation (Finance) ; Primary commodities Prices ; Inflation (Finance) ; Primary commodities Prices
    Abstract: "This paper uses a computable general equilibrium model to assess the welfare impact of commodity price inflation in Tanzania and possible tax policy responses in the short, medium, and long term. The results suggest that global commodity inflation since 2006 may have had a significantly negative impact on all Tanzanian households. Most of the negative impact comes from the rise in the price of oil. In contrast, food price spikes are potentially welfare improving for all Tanzanian households in the medium to long run. In comparison with nonpoor households, poor households in Tanzania may be relatively shielded from global commodity inflation because they derive a larger share of their incomes from agricultural activity and consume less oil-intensive products. Finally, the results suggest that tax policies encouraging greater agricultural production and consumption may help to reduce poverty. In contrast, policies discouraging agricultural production (such as export bans) bear the risk of increasing poverty in the long run. However, such policies would only effect at the margin (in one direction or the other) the likely impact of global commodity inflation on poverty. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/12/2009 , Also available in print.
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  • 198
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4764
    Parallel Title: Deininger, Klaus W Impacts of land certification on tenure security, investment, and land markets
    Keywords: Land tenure ; Land titles Registration and transfer ; Land tenure ; Land titles Registration and transfer
    Abstract: "Although early attempts at land titling in Africa were often unsuccessful, the need to secure rights in view of increased demand for land, options for registration of a continuum of individual or communal rights under new laws, and the scope for reducing costs by combining information technology with participatory methods have led to renewed interest. This paper uses a difference-in-difference approach to assess economic impacts of a low-cost registration program in Ethiopia that, over 5 years, covered some 20 million parcels. Despite policy constraints, the program increased tenure security, land-related investment, and rental market participation and yielded benefits significantly above the cost of implementation. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/12/2009 , Also available in print.
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  • 199
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4766
    Parallel Title: Lederman, Daniel In search of the missing resource curse
    Keywords: Natural resources ; Natural resources ; Developing countries Economic conditions ; Developing countries Economic conditions
    Abstract: "The debate over the curse of natural resources has haunted developing countries for decades if not centuries. A review of existing empirical evidence suggests that the curse remains elusive. The fragile negative effect of natural resources on economic growth might be due to international heterogeneity in the effects of natural resources on economic growth, to the use of weak indicators of natural resources that might be unrelated to relative natural-resource endowments, or to the inability of econometric analysis based on international data to capture historical processes. This paper defends an empirical proxy for relative abundance of natural resources, which is based on standard growth theory. In turn, various econometric estimations are hopelessly deployed in the search for the missing resource curse. Some evidence suggests that natural resources might have large positive effects whose true magnitude remains unknown due to unresolved econometric issues. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/12/2009 , Also available in print.
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  • 200
    Online Resource
    Online Resource
    [Washington, D.C] : World Bank
    Language: English
    Pages: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 4797
    Parallel Title: Hoekman, Bernard M Trade policy, trade costs, and developing country trade
    RVK:
    Keywords: Free trade ; Free trade ; Developing countries Commercial policy ; Developing countries Commercial policy
    Abstract: "This paper briefly reviews new indices of trade restrictiveness and trade facilitation that have been developed at the World Bank. The paper also compares the trade impact of different types of trade restrictions applied at the border with the effects of domestic policies that affect trade costs. Based on a gravity regression framework, the analysis suggests that tariffs and non-tariff measures continue to be a significant source of trade restrictiveness for low-income countries despite preferential access programs. This is because the value of trade preferences is quite limited: a new measure of the relative preference margin developed in the paper reveals that this is very low for most country-pairs. Most countries with very good (duty-free) access to a market generally have competitors that have the same degree of access. The empirical analysis suggests that measures to improve logistics performance and facilitate trade are likely to have the greatest positive effects in expanding developing country trade, increasing the trade impacts of lowering remaining border barriers by a factor of two or more. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 5/8/2009 , Also available in print.
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