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  • 1
    Online Resource
    Online Resource
    Adjustment and Poverty in Mexican Agriculture : How Farmers' Wealth Affects Supply Response (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (54 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Lopez, Ramon Adjustment and Poverty in Mexican Agriculture
    Keywords: Access To Irrigation ; Agricultural Activities ; Agriculture ; Agriculture and Farming Systems ; Commercial Bank ; Credit Markets ; Crops and Crop Management Systems ; Economic Theory and Research ; Farm Decisions ; Farm Households ; Farm Income ; Farm Work ; Farmer ; Farmers ; Finance and Financial Sector Development ; Financial Literacy ; Investment and Investment Climate ; Irrigation ; Landholdings ; Macroeconomics and Economic Growth ; Markets and Market Access ; Natural Disaster ; Poor Farmer ; Poor Farmers ; Poverty ; Poverty Reduction ; Rural Development ; Rural Development Knowledge and Information Systems ; Rural Financial Markets ; Rural Poverty ; Rural Poverty Reduction ; Rural Sector ; Small Farms ; Access To Irrigation ; Agricultural Activities ; Agriculture ; Agriculture and Farming Systems ; Commercial Bank ; Credit Markets ; Crops and Crop Management Systems ; Economic Theory and Research ; Farm Decisions ; Farm Households ; Farm Income ; Farm Work ; Farmer ; Farmers ; Finance and Financial Sector Development ; Financial Literacy ; Investment and Investment Climate ; Irrigation ; Landholdings ; Macroeconomics and Economic Growth ; Markets and Market Access ; Natural Disaster ; Poor Farmer ; Poor Farmers ; Poverty ; Poverty Reduction ; Rural Development ; Rural Development Knowledge and Information Systems ; Rural Financial Markets ; Rural Poverty ; Rural Poverty Reduction ; Rural Sector ; Small Farms
    Abstract: August 1995 - By and large, it appears that the goals of agricultural reform are being met in Mexico. But measures such as decoupling income supports and price supports or reorienting research and extension could help farmers who cannot afford access to machinery and purchased inputs and services. López, Nash, and Stanton report the results of a study of Mexican farm households using 1991 survey data and a smaller resurvey of some of the same households in 1993. One study goal was to empirically examine the relationship between assets and the output supply function. Using a production model focusing on capital as a productive input, they found that both the supply level and the responsiveness (elasticities) to changing input and output prices tend to depend on the farmer's net assets and on how productive assets are used. Regression analysis using data from the surveys shows that farmers who use productive assets such as machinery tend to be positively responsive to price changes, while those with no access to such assets are not. Another study goal was to monitor the condition of Mexican farmers in a rapidly changing policy environment. The 1991 survey data suggest that farmers with more limited use of capital inputs (the low-CI group) were more likely to grow principally corn and to grow fewer crops, on average, than the others. They also had more problems getting credit and were less likely to use purchased inputs, such as seeds, fertilizer, and pesticides, or to use a tractor to prepare the soil. They tended to be less well-educated, and their land tended to be of lower quality. Results from the panel data showed conditions generally improving for the average farmer in the sample area between 1991 and 1993, during a period when agricultural reforms were implemented. Cropping patterns were more diversified, the average size of landholdings increased, the average farmer received more credit (in real terms), more farm households earned income from off-farm work, and more farmers used purchased inputs. Asset ownership and educational attainment also improved modestly. The very small low-CI group in this sample fared as well as, or better than, the other groups. True, their level of educational achievement fell, and fewer of them had off-farm income than in 1991. But their use of credit, irrigation, machinery, and purchased inputs increased more than for other groups. The limited data are not proof of a causal link, but the fact that the goals are being met should at least ensure that adverse conditions are not undermining reform. Farmers that lacked access to productive assets did not respond as well to incentives or take advantage of the opportunities presented by reform and may need assistance, particularly to get access to credit markets. There may be a good argument for decoupling income supports from price supports for farmers, since income payments that are independent of the vagaries of production could provide a more stable signal of creditworthiness than price supports do. Possibly reorienting research and extension services more to the needs of low-CI producers could also improve the efficiency with which the sector adjusts to new incentives. Hypotheses and tentative conclusions from this study will be explored further when more data are collected in 1995. This paper - a product of the International Trade Division, International Economics Department---is part of a larger effort in the department to investigate the effects of international trade policy on individual producers. The study was funded by the Bank's Research Support Budget under the research project Rural Poverty and Agriculture in Mexico: An Analysis of Farm Decisions and Supply Responsiveness (RPO 678-23)
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  • 2
    Online Resource
    Online Resource
    Decentralization in Regional Fiscal Systems in Russia : Trends and Links to Economic Performance (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (57 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Freinkman, Lev Decentralization in Regional Fiscal Systems in Russia
    Keywords: Accounting ; Accounting Standards ; Budget ; Budget Defic Budgets ; Debt Markets ; Debts ; Decentralization ; Expenditure ; Expenditures ; Federal Budget ; Finance ; Finance and Financial Sector Development ; Fiscal Decentralization ; Intergovernmental Fiscal Relations and Local Finance Management ; Local Governments ; Municipal Financial Management ; Pension ; Pension Fund ; Public and Municipal Finance ; Revenue ; Revenues ; Share ; Shares ; Tax ; Urban Development ; Urban Economics ; Accounting ; Accounting Standards ; Budget ; Budget Defic Budgets ; Debt Markets ; Debts ; Decentralization ; Expenditure ; Expenditures ; Federal Budget ; Finance ; Finance and Financial Sector Development ; Fiscal Decentralization ; Intergovernmental Fiscal Relations and Local Finance Management ; Local Governments ; Municipal Financial Management ; Pension ; Pension Fund ; Public and Municipal Finance ; Revenue ; Revenues ; Share ; Shares ; Tax ; Urban Development ; Urban Economics
    Abstract: April 1999 - Considering the positive impact decentralization has had on regional economic performance and expenditure structure, Russia's federal government should: ° Decisively protect local self-governance and budget autonomy. ° Make intergovernmental fiscal relations more transparent. ° Develop universal models of interactions between regional and municipal governments. ° Impose stricter limits on total debt and budget deficits of subnational governments. To shed light on decentralization in Russia, Freinkman and Yossifov examine intergovernmental fiscal relations within regions. To analyze trends, they review channels of fiscal allocation within regions-tax sharing and local transfer schemes. To evaluate the potential impact of various fiscal decentralization patterns on regional economic performance (including growth and the budget deficit), they study data on the structure of 89 Russian consolidated regional budgets for 1992-96. They find that local governments' relative share of Russia's consolidated budget, although substantive (roughly a quarter of the total budget), did not expand after 1994. The federal government's relative role in financing public goods and services declined as the relative role of local governments increased substantially. Local governments collected more revenues in 1996 (6.4 percent of GDP) and spent more than regional governments. They also substantially increased social financing (including health, education, and social protection). Russia made no progress toward a more transparent system for tax assignments. The average level of expenditure decentralization is similar for ethnically Russian regions and national republics and okrugs but revenue arrangements differ greatly. True decentralization has taken place in oblasts and krais, where local authorities are provided with a bigger share of subnational tax revenues. A redistribution model applies in republics and autonomous okrugs, where greater local outlays have been financed through larger transfers from regional governments. Regions near each other tend to have similar budget arrangements-the result of intensive interactions between neighbors and probably supported by the activities of regional associations. The size of a region's territory does not influence decentralization outcomes. Fiscal decentralization seems positively related to the share of education spending in regional budgets. And regions with more decentralized finances tend to experience less economic decline. But budget control is weaker in more decentralized regions. Instability and lack of transparency in intergovernmental fiscal relations provide subnational governments little incentive for responsible fiscal policy. Further decentralization without greater transparency could bring greater debt and deficits. This paper-a product of the Poverty Reduction and Economic Management Sector Unit, Europe and Central Asia Region - is part of a larger effort in the unit to study fiscal decentralization in transition economies. Lev Freinkman may be contacted at lfreinkmanworldbank.org
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  • 3
    Online Resource
    Online Resource
    Decentralization and Fiscal Management in Colombia (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (49 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Webb, B. Steven Decentralization and Fiscal Management in Colombia
    Keywords: Bank ; Banks and Banking Reform ; Budget ; Debt ; Debt Markets ; Decentralization ; Decentralization Process ; Deconcentration ; Deficits ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal Decentralization ; Fiscal Deficits ; Interest ; Intergovernmental Relations ; Laws ; Local Governments ; Macroeconomic Stability ; Municipal Financial Management ; Municipalities ; Public Sector Economics and Finance ; Public and Municipal Finance ; Revenue ; Risk ; Subnational Governments ; Transfers ; Urban Development ; Urban Economics ; Value ; Bank ; Banks and Banking Reform ; Budget ; Debt ; Debt Markets ; Decentralization ; Decentralization Process ; Deconcentration ; Deficits ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal Decentralization ; Fiscal Deficits ; Interest ; Intergovernmental Relations ; Laws ; Local Governments ; Macroeconomic Stability ; Municipal Financial Management ; Municipalities ; Public Sector Economics and Finance ; Public and Municipal Finance ; Revenue ; Risk ; Subnational Governments ; Transfers ; Urban Development ; Urban Economics ; Value
    Abstract: May 1999 - Institutional arrangements have helped Colombia manage the fiscal aspects of decentralization, despite the country's political problems. Colombia's political geography contrasts sharply with its economy. Physical characteristics and guerilla war fragment the country geographically, yet it has a long tradition of political centrism and macroeconomic stability. Recently, with political and economic decentralization, there has been some weakening of macroeconomic performance. Dillinger and Webb explore institutional arrangements that have helped Colombia manage the fiscal aspects of decentralization, despite the country's political problems. Fiscal decentralization proceeded rapidly in Colombia. Education, health, and much infrastructure provision have been decentralized to the departmentos and municipios. Decentralization has led to substantial but not overwhelming problems, both in maintaining fiscal balance nationally (as resources are transferred to subnational levels) and in preventing unsustainable deficits by the subnational governments. The problems have arisen because central government interference prevents departments from controlling their costs and because of expectations of debt bailouts. Both are legacies of the earlier pattern of management from the center, and some recent changes-especially about subnational debt-may improve matters. Colombia's traditional political process has had difficulty dealing with problems of decentralization because traditional parties are weak in internal organization and have lost de facto rule over substantial territories. The fiscal problems of subnational government have been contained, however, because subnational governments are relatively weak politically and the central government, for the time being, has been able to enforce restrictions on subnational borrowing. This paper-a product of the Poverty Reduction and Economic Management Sector Unit, Latin America and Caribbean Region-is part of a larger effort in the region to examine the macroeconomic consequences of decentralization. The authors may be contacted at wdillingerworldbank.org or swebb@worldbank.org
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  • 4
    Online Resource
    Online Resource
    Developing Country Agriculture and the New Trade Agenda (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (31 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Hoekman, Bernard Developing Country Agriculture and the New Trade Agenda
    Keywords: Agribusiness ; Agricultural Production ; Agricultural Protection ; Agriculture ; Competition ; Debt Markets ; Economic Development ; Economic Theory and Research ; Economics ; Emerging Markets ; Environment ; Environmental ; Environmental Economics and Policies ; Environmental Regulations ; Finance and Financial Sector Development ; Free Trade ; Income ; International Economics & Trade ; Investment ; Labor Policies ; Law and Development ; Macroeconomics and Economic Growth ; Markets ; Policies ; Private Sector Development ; Public Sector Development ; Quotas ; Resources ; Rural Communities ; Social Protections and Labor ; Standards ; Subsidies ; Tariffs ; Taxation ; Trade ; Trade Law ; Trade Policy ; Welfare Gains ; World Trade Organization ; Agribusiness ; Agricultural Production ; Agricultural Protection ; Agriculture ; Competition ; Debt Markets ; Economic Development ; Economic Theory and Research ; Economics ; Emerging Markets ; Environment ; Environmental ; Environmental Economics and Policies ; Environmental Regulations ; Finance and Financial Sector Development ; Free Trade ; Income ; International Economics & Trade ; Investment ; Labor Policies ; Law and Development ; Macroeconomics and Economic Growth ; Markets ; Policies ; Private Sector Development ; Public Sector Development ; Quotas ; Resources ; Rural Communities ; Social Protections and Labor ; Standards ; Subsidies ; Tariffs ; Taxation ; Trade ; Trade Law ; Trade Policy ; Welfare Gains ; World Trade Organization
    Abstract: May 1999 - In the new round of World Trade Organization talks expected in late 1999, negotiations about access to agricultural and services markets should be given top priority, but new trade agenda issues should also be discussed. Including new trade agenda issues would increase market discipline's role in the allocation of resources in agriculture and would encourage nonagricultural groups with interests in the new issues to take part in the round, counterbalancing forces favoring agricultural protection. A new round of World Trade Organization negotiations on agriculture, services, and perhaps other issues is expected in late 1999. To what extent should those negotiations include new trade agenda items aimed at ensuring that domestic regulatory policies do not discriminate against foreign suppliers? Hoekman and Anderson argue that negotiations about market access should be given priority, as the potential welfare gains from liberalizing access to agricultural (and services) markets are still huge, but new issues should be included too. Including new trade agenda issues would increase the role of market discipline in the allocation of resources in agriculture and would encourage nonagricultural groups with interests in the new issues to take part in the round, counterbalancing forces in favor of agricultural protection. They also argue, however, that rule-making efforts to accommodate the new issues should be de-linked from negotiations about access to agricultural markets, because the issues affect activity in all sectors. This paper-a product of the Development Research Group-is part of a larger effort in the group to analyze options and priorities for developing countries in the run-up to a new round of WTO negotiations. Bernard Hoekman may be contacted at bhoekmanworldbank.org or kanderson@economics.adelaide.edu.au
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  • 5
    Online Resource
    Online Resource
    Agricultural Extension : Generic Challenges and Some Ingredients for Solutions (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (38 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Feder, Gershon Agricultural Extension
    Keywords: Agricultural ; Agricultural Development ; Agricultural Education ; Agricultural Extension ; Agricultural Knowledge ; Agricultural Knowledge and Information Systems ; Agricultural Production ; Agriculture ; Agriculture ; Extension Services ; Farmers ; Food Production ; Funding ; Government Investments ; Hunger ; Information ; Land ; Poverty Reduction ; Private Sector ; Products ; Research ; Rural Development ; Rural Development ; Rural Development Knowledge and Information Systems ; Rural Poverty Reduction ; Skills ; Agricultural ; Agricultural Development ; Agricultural Education ; Agricultural Extension ; Agricultural Knowledge ; Agricultural Knowledge and Information Systems ; Agricultural Production ; Agriculture ; Agriculture ; Extension Services ; Farmers ; Food Production ; Funding ; Government Investments ; Hunger ; Information ; Land ; Poverty Reduction ; Private Sector ; Products ; Research ; Rural Development ; Rural Development ; Rural Development Knowledge and Information Systems ; Rural Poverty Reduction ; Skills
    Abstract: May 1999 - The agriculture sector must nearly double biological yields on existing farmland to meet food needs, which will double in the next quarter century. A sustainable approach to providing agricultural extension services in developing countries-minimal external inputs, a systems orientation, pluralism, and arrangements that take advantage of the best incentives for farmers and extension service providers-will release the local knowledge, resources, common sense, and organizing ability of rural people. Is agricultural extension in developing countries up to the task of providing the information, ideas, and organization needed to meet food needs? What role should governments play in implementing or facilitating extension services? Roughly 80 percent of the world's extension is publicly funded and delivered by civil servants, providing a range of services to the farming population, commercial producers, and disadvantaged target groups. Budgetary constraints and concerns about performance create pressure to show the payoff on investment in extension and to explore alternatives to publicly providing it. Feder, Willett, and Zijp analyze the challenges facing policymakers who must decide what role governments should play in implementing or facilitating extension services. Focusing on developing country experience, they identify generic challenges that make it difficult to organize extension: ° The magnitude of the task. ° Dependence on wider policy and other agency functions. ° Problems in identifying the cause and effect needed to enable accountability and to get political support and funding. ° Liability for public service functions beyond the transfer of agricultural knowledge and information. ° Fiscal sustainability. ° Inadequate interaction with knowledge generators. Feder, Willett, and Zijp show how various extension approaches were developed in attempts to overcome the challenges of extension: ° Improving extension management. ° Decentralizing. ° Focusing on single commodities. ° Providing fee-for-service public extension services. ° Establishing institutional pluralism. ° Empowering people by using participatory approaches. ° Using appropriate media. Each of the approaches has weaknesses and strengths, and in their analysis the authors identify the ingredients that show promise. Rural people know when something is relevant and effective. The aspects of agricultural extension services that tend to be inherently low cost and build reciprocal, mutually trusting relationships are those most likely to produce commitment, accountability, political support, fiscal sustainability, and the kinds of effective interaction that generate knowledge. This paper-a joint product of Rural Development, Development Research Group, and the Rural Development Department-is part of a larger effort in the Bank to identify institutional and policy reforms needed to promote sustainable and equitable rural development. The authors may be contacted at gfederworldbank.org, awillett@worldbank.org, or wzijp@worldbank.org
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  • 6
    Online Resource
    Online Resource
    Interlinkage, limited liability, and strategic interaction (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (37 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Basu, Kaushik Interlinkage, Limited Liability, and Strategic Interaction
    Keywords: Amount Of Cred Borrower ; Contract Law ; Contracts ; Contractual Obligations ; Credit Contract ; Debt Markets ; Default ; Discount ; Discount Rates ; Economic Theory and Research ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Instrument ; Instruments ; Labor Policies ; Law and Development ; Limited Liability ; Loan ; Loan Contracts ; Macroeconomics and Economic Growth ; Moneylender ; Moral Hazard ; Option ; Risk Aversion ; Risk Neutral ; Social Protections and Labor ; Unlimited Liability ; Amount Of Cred Borrower ; Contract Law ; Contracts ; Contractual Obligations ; Credit Contract ; Debt Markets ; Default ; Discount ; Discount Rates ; Economic Theory and Research ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Instrument ; Instruments ; Labor Policies ; Law and Development ; Limited Liability ; Loan ; Loan Contracts ; Macroeconomics and Economic Growth ; Moneylender ; Moral Hazard ; Option ; Risk Aversion ; Risk Neutral ; Social Protections and Labor ; Unlimited Liability
    Abstract: June 1999 - When will a landlord prefer to supply both land and credit to a tenant rather than allow the lender to borrow from a separate moneylender? The paper shows that if tenancy contracts are obtained prior to contracting with the moneylender, and the tenant has limited liability, interlinked deals will predominate over the alternative situation where the landlord and the moneylender act as noncooperative principals. Basu, Bell, and Bose analyze the example of a landlord, a moneylender, and a tenant (the landlord having access to finance on the same terms as the moneylender). It is natural to assume that the landlord has first claim on the tenant's output (as a rule, if they live in the same village, he may have some say in when the crop is harvested). The moneylender is more of an outsider, not well placed to exercise such a claim. A landless, assetless tenant will typically not get a loan unless he has a tenancy. Without interlinkage, the landlord is likely to move first. In the noncooperative sequential game where the landlord is the first mover and also enjoys seniority of claims if the tenant defaults, interlinkage is superior, even if contracts are nonlinear - a result unchanged with the incorporation of moral hazard. The main result is that if a passive principal - one whose decisions are limited to exercising his property rights to determine his share of returns - is the first mover, allocative efficiency is impaired unless his equilibrium payoffs are uniform across states of nature. The limited liability of the tenant creates the strict superiority of interlinkage by making uniform rents nonoptimal when, with noncollusive principals, the landlord (the passive principal) is the first mover. A change in seniority of claims from the first to the second mover (the moneylender) further strengthens this result. But uniform payoffs for the first mover are not essential for allocative efficiency if he is the only principal with a continuously variable instrument of control. So, the main result is sensitive to changes in the order of play but not to changes in the priority of claims. This paper - a product of the Office of the Senior Vice President and Chief Economist, Development Economics - is part of a larger effort in the Bank to understand the institutional structure of rural markets and its welfare implications. The authors may be contacted at kbasuworldbank.org, clive.bell@urz.uni-heidelberg.de, or psbose@cc.memphis.edu
    DOI: 10.1596/1813-9450-2134
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  • 7
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    Hungary's Integration into European Union Markets : Production and Trade Restructuring (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (33 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Kaminski, Bartlomiej Hungary's Integration into European Union Markets
    Keywords: Access to Markets ; Agribusiness and Markets ; Agriculture ; Capital ; Central Planning ; Comparative Advantage ; Competitive Markets ; Competitiveness ; Debt Markets ; Economic Relations ; Economic Theory and Research ; Emerging Markets ; Environment ; Environmental Economics and Policies ; Exports ; Finance and Financial Sector Development ; Free Trade ; GDP ; General System Of Preferences ; Goods ; Industry ; International Economics & Trade ; Investment ; Macroeconomics and Economic Growth ; Markets ; Markets and Market Access ; Private Sector Development ; Production ; Public Sector Development ; Rural Development ; Shares ; Trade ; Trade Barriers ; Trade Policy ; Transition Economies ; Transition Economy ; Value ; Water Resources ; Water and Industry ; Access to Markets ; Agribusiness and Markets ; Agriculture ; Capital ; Central Planning ; Comparative Advantage ; Competitive Markets ; Competitiveness ; Debt Markets ; Economic Relations ; Economic Theory and Research ; Emerging Markets ; Environment ; Environmental Economics and Policies ; Exports ; Finance and Financial Sector Development ; Free Trade ; GDP ; General System Of Preferences ; Goods ; Industry ; International Economics & Trade ; Investment ; Macroeconomics and Economic Growth ; Markets ; Markets and Market Access ; Private Sector Development ; Production ; Public Sector Development ; Rural Development ; Shares ; Trade ; Trade Barriers ; Trade Policy ; Transition Economies ; Transition Economy ; Value ; Water Resources ; Water and Industry
    Abstract: June 1999 - Can Hungarian firms cope with competitive pressures and market forces within the European Union market (a criterion for joining)? The empirical evidence suggests that Hungary can withstand such competitive pressures without suppressing the real incomes of Hungary's citizens. Hungary has achieved impressive results in reorienting both its production and trade. Between 1989 and 1992, as the former CMEA markets collapsed and Hungary liberalized imports and the exchange rate regime, exports to the European Union (EU) expanded, with manufactured exports redirected largely to Western (mostly EU) markets. During this first phase of expansion, characterized by a dramatic reorientation and explosion of trade, the value of Hungary's exports increased 84 percent. In 1993 export expansion lost steam and EU-oriented exports fell 12 percent. In a second phase of expansion (in 1994-97), driven by restructured and rapidly changing export offers, exports again registered strong performance, their value increasing 132 percent. There was a dramatic shift from an export basket dominated by resource-intensive, low-value-added products to one driven by manufactures, with a rapidly accelerating growth of engineering products. Machinery and transport equipment rose from 12 percent of exports to the EU in 1989 to more than 50 percent in 1997. The shift from natural resource and unskilled-labor-intensive products to technology- and capital-intensive products in EU-oriented exports suggests the potential for integration higher in the value-added spectrum. More stringent EU environmental regulations will affect a relatively low, and falling, share of Hungary's exports. The Hungarian share of environmentally dirty products imported by the EU has increased, but these products have not been trendsetters among Hungarian exports, their share in exports falling from 26 percent in 1989 to 16 percent in 1996. The rapid pace of Hungary's turnaround seems to reflect the emergence of second-generation firms, mostly foreign-owned. Foreign-owned firms tend to be more export-oriented. Hungary has been one of the more successful transition economies because its economy was receptive to foreign direct investment from the outset. Between 1990 and 1997, Hungary absorbed roughly half of all foreign capital invested in Central Europe. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to study regional integration. The author may be contacted at bkaminskiworldbank.org
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  • 8
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    Multilateral Disciplines for Investment-Related Policies (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (34 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Hoekman, Bernard Multilateral Disciplines for Investment-Related Policies
    Keywords: Costs ; Debt Markets ; Economic Theory and Research ; Economics ; Economy ; Emerging Markets ; Expectations ; Exports ; Finance and Financial Sector Development ; Foreign Direct Investment ; Free Trade ; Goods ; Incentives ; International Economics & Trade ; Investment ; Investment and Investment Climate ; Labor Policies ; Macroeconomics and Economic Growth ; Markets ; Multilateral Trade ; Non Bank Financial Institutions ; Payments ; Positive Externalities ; Private Sector Development ; Public Sector Corruption and Anticorruption Measures ; Risk Averse ; Social Protections and Labor ; Subsidy ; Trade Negotiations ; Trade and Regional Integration ; Transactions Costs ; Value ; Value Added ; WTO ; Welfare ; Costs ; Debt Markets ; Economic Theory and Research ; Economics ; Economy ; Emerging Markets ; Expectations ; Exports ; Finance and Financial Sector Development ; Foreign Direct Investment ; Free Trade ; Goods ; Incentives ; International Economics & Trade ; Investment ; Investment and Investment Climate ; Labor Policies ; Macroeconomics and Economic Growth ; Markets ; Multilateral Trade ; Non Bank Financial Institutions ; Payments ; Positive Externalities ; Private Sector Development ; Public Sector Corruption and Anticorruption Measures ; Risk Averse ; Social Protections and Labor ; Subsidy ; Trade Negotiations ; Trade and Regional Integration ; Transactions Costs ; Value ; Value Added ; WTO ; Welfare
    Abstract: June 1999 - Is there a strong case for developing countries to support the creation of a multilateral agreement on investment? Probably not. Existing agreements offer ample scope for liberalizing foreign direct investment in the area that matters most to developing countries: services. Hoekman and Saggi evaluate the potential benefits of international disciplines on policies toward foreign direct investment for developing countries. They conclude that the case for initiating negotiations on investment policies is weak, at present. Negotiating efforts that center on further liberalizing market access on a nondiscriminatory basis-especially for services-are likely to be more fruitful in terms of economic welfare and growth. Existing multilateral instruments, although imperfect, are far from fully exploited and provide significant opportunities for governments opening further access to markets. Hoekman and Saggi conclude that priority should be given to expanding coverage of the General Agreement on Trade in Services (GATS) before seeking to negotiate general disciplines on investment policies. This paper-a product of Trade, Development Research Group-is part of a larger effort in the group to prepare for the next round of WTO negotiations. The authors may be contacted at bhoekmanworldbank.org or ksaggi @mail.smu.edu
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  • 9
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    Gender Bias in China, the Republic of Korea, and India 1920-90 : Effects of War, Famine, and Fertility Decline (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (39 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Gupta, Das Monica Gender Bias in China, the Republic of Korea, and India 1920-90
    Keywords: Center For Population ; Child Mortality ; Child Survival ; Discrimination ; Fertility ; Fertility Decline ; Gender ; Gender Bias ; Gender and Law ; Health, Nutrition and Population ; Law and Development ; Marriage ; National Level ; Number Of Births ; Population ; Population And Development ; Population Policies ; Population Research ; Poverty ; Resource Constraint ; Sex ; Sex Ratios ; Son Preference ; United Nations Population Fund ; War ; Center For Population ; Child Mortality ; Child Survival ; Discrimination ; Fertility ; Fertility Decline ; Gender ; Gender Bias ; Gender and Law ; Health, Nutrition and Population ; Law and Development ; Marriage ; National Level ; Number Of Births ; Population ; Population And Development ; Population Policies ; Population Research ; Poverty ; Resource Constraint ; Sex ; Sex Ratios ; Son Preference ; United Nations Population Fund ; War
    Abstract: June 1999 - The proportions of girls 'missing' rose sharply in these countries during times of war, famine, and fertility decline. Resulting shortages of wives improved the treatment of adult women without reducing discrimination against daughters or increasing women's autonomy. The latter goals can be reached only with fundamental changes in women's family position-changes that are taking place only slowly. Kinship systems in China, the Republic of Korea, and North India have similar features that generate discrimination against girls, and these countries have some of the highest proportions of girls 'missing' in the world. Das Gupta and Li document how the excess mortality of girls was increased by war, famine, and fertility decline-all of which constrained household resources-between 1920 and 1990. Of the three countries, China experienced the most crises during this period (with civil war, invasion, and famine). The resulting excess mortality of girls in China offset the demographic forces making for a surplus of wives as overall mortality rates declined. India had the quietest history during this period, and consequently followed the expected pattern of a growing surplus of available wives. These changes in sex ratios had substantial social ramifications. The authors hypothesize that these demographic factors: ° Encouraged the continuation of brideprice in China, while in India there was a shift to dowry. ° Influenced the extent and manifestations of violence against women. An oversupply of women is the worst scenario for women, as there are fewer constraints to domestic violence. A shortage of women leads to better treatment of wives, as people become more careful not to lose a wife. However in situations of shortage, a small proportion of women may be subject to new types of violence such as being kidnapped for marriage. Ironically, then, higher levels of discrimination against girls can help reduce violence against women. When women are in short supply, their treatment improves. But their autonomy can increase only with fundamental changes in their family position, changes that are taking place only slowly. This paper-a product of Poverty and Human Resources, Development Research Group-is part of a larger effort in the group to study social institutions and development outcomes. Monica Das Gupta may be contacted at mdasguptaworldbank.org
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  • 10
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    A New Database on Financial Development and Structure (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (67 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Levine, Ross A New Database on Financial Development and Structure
    Keywords: Bank ; Banks and Banking Reform ; Bond ; Bond Markets ; Commercial Banks ; Corporate Law ; Debt Markets ; Emerging Markets ; Equity ; Equity Markets ; Finance ; Finance and Financial Sector Development ; Financial Crises ; Financial Institutions ; Financial Intermediaries ; Financial Literacy ; Financial Sector ; Financial Systems ; Insurance ; Insurance Companies ; Law and Development ; Money ; Non Bank Financial Institutions ; Ownership ; Pension ; Pension Funds ; Private Sector Development ; Stock ; Stock Market ; Bank ; Banks and Banking Reform ; Bond ; Bond Markets ; Commercial Banks ; Corporate Law ; Debt Markets ; Emerging Markets ; Equity ; Equity Markets ; Finance ; Finance and Financial Sector Development ; Financial Crises ; Financial Institutions ; Financial Intermediaries ; Financial Literacy ; Financial Sector ; Financial Systems ; Insurance ; Insurance Companies ; Law and Development ; Money ; Non Bank Financial Institutions ; Ownership ; Pension ; Pension Funds ; Private Sector Development ; Stock ; Stock Market
    Abstract: July 1999 - This new database of indicators of financial development and structure across countries and over time unites a range of indicators that measure the size, activity, and efficiency of financial intermediaries and markets. Beck, Demirgüç-Kunt, and Levine introduce a new database of indicators of financial development and structure across countries and over time. This database is unique in that it unites a variety of indicators that measure the size, activity, and efficiency of financial intermediaries and markets. It improves on previous efforts by presenting data on the public share of commercial banks, by introducing indicators of the size and activity of nonbank financial institutions, and by presenting measures of the size of bond and primary equity markets. The compiled data permit the construction of financial structure indicators to measure whether, for example, a country's banks are larger, more active, and more efficient than its stock markets. These indicators can then be used to investigate the empirical link between the legal, regulatory, and policy environment and indicators of financial structure. They can also be used to analyze the implications of financial structure for economic growth. Beck, Demirgüç-Kunt, and Levine describe the sources and construction of, and the intuition behind, different indicators and present descriptive statistics. This paper - a product of Finance, Development Research Group - is part of a broader effort in the group to understand the determinants of financial structure and its importance to economic development. The authors may be contacted at tbeckworldbank.org, ademirguckunt@worldbank.org, or rlevine@csom.umn.edu
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  • 11
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    Challenging El Salvador's Rural Health Care Strategy (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (58 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Eskeland, Gunnar Challenging El Salvador's Rural Health Care Strategy
    Keywords: Aged ; Children ; Clinics ; Decision Making ; First Aid ; Health ; Health Behavior ; Health Care ; Health Monitoring and Evaluation ; Health Services ; Health, Nutrition and Population ; Hospitals ; Injuries ; Knowledge ; Mortality ; Patients ; Physicians ; Prevention ; Primary Health Care ; Public Health ; Strategy ; Workers ; Aged ; Children ; Clinics ; Decision Making ; First Aid ; Health ; Health Behavior ; Health Care ; Health Monitoring and Evaluation ; Health Services ; Health, Nutrition and Population ; Hospitals ; Injuries ; Knowledge ; Mortality ; Patients ; Physicians ; Prevention ; Primary Health Care ; Public Health ; Strategy ; Workers
    Abstract: August 1999 - Low-skilled health promoters posted in rural villages are doing little to improve health or health-seeking behaviors. In a supply-driven system, such workers have too few incentives, too little knowledge, and too little supervision. Results can be improved without increasing costs. Can a supply-driven network of under-skilled rural health promoters make a difference in rural health care? There are few, if any, signs that the current rural health strategy in El Salvador is working, whether the health promoters are government employees or nongovernmental organization (NGO) workers. Lewis, Eskeland, and Traa-Valerezo arrived at this conclusion after conducting interviews and analyzing primary and secondary data. The village-based health promoters lack incentives and supervision, and ultimately have little to offer local communities. NGO workers are more successful than government workers, but neither group performs satisfactorily. Even the rural poor use private services quite intensively, despite the high cost of the services and of getting access to them. Moreover, people seem to seek the services they need. They select self-treatment in 50 percent of illness episodes, with about the same success rate as when they use health providers. Other options should be considered, as results can be improved without increasing costs. This paper - a product of the Human Development Sector Units, Europe and Central Asia Region and Latin America and Caribbean Region; and Public Economics, Development Research Group - is part of a larger effort in the Bank to encourage appropriate policies and programs in the health sector. The authors may be contacted at mlewis1worldbank.org, geskeland@worldbank.org, or xtraavalerezo@worldbank.org
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  • 12
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    A Quantitative Evaluation of Vietnam's Accession to the ASEAN Free Trade Area (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (70 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Martin, Will A Quantitative Evaluation of Vietnam's Accession to the ASEAN Free Trade Area
    Keywords: Access ; Capital Goods ; Comparative Advantage ; Currencies and Exchange Rates ; Debt Markets ; Domestic Industries ; Domestic Production ; Economic Theory and Research ; Emerging Markets ; Exports ; Factor Endowments ; Finance and Financial Sector Development ; Free Trade ; Free Trade ; Free Trade Area ; Import Competition ; Intermediate Inputs ; International Economics & Trade ; Law and Development ; Macroeconomics and Economic Growth ; Markets and Market Access ; Openness ; Private Sector Development ; Public Sector Development ; Tariff ; Trade Creation ; Trade Diversion ; Trade Law ; Trade Liberalization ; Trade Patterns ; Trade Policies ; Trade Policy ; Trade Regime ; Unilateral Liberalization ; Access ; Capital Goods ; Comparative Advantage ; Currencies and Exchange Rates ; Debt Markets ; Domestic Industries ; Domestic Production ; Economic Theory and Research ; Emerging Markets ; Exports ; Factor Endowments ; Finance and Financial Sector Development ; Free Trade ; Free Trade ; Free Trade Area ; Import Competition ; Intermediate Inputs ; International Economics & Trade ; Law and Development ; Macroeconomics and Economic Growth ; Markets and Market Access ; Openness ; Private Sector Development ; Public Sector Development ; Tariff ; Trade Creation ; Trade Diversion ; Trade Law ; Trade Liberalization ; Trade Patterns ; Trade Policies ; Trade Policy ; Trade Regime ; Unilateral Liberalization
    Abstract: November 1999 - The static economic benefits of Vietnam's accession to the ASEAN Free Trade Area (AFTA) are likely to be relatively small. The gains from increased access to ASEAN markets would be small, and they would be offset by the costs of trade diversion on the import side. But binding commitments on protection rates under the AFTA plan could provide an important stepping stone to more beneficial broader liberalization. Vietnam's accession to the ASEAN Free Trade Area (AFTA) has been an important step in its integration into the world economy. Fukase and Martin use a multiregion, multisector computable general equilibrium model to evaluate how different trade liberalization policies of Vietnam and its main trading partners affect Vietnam's welfare, taking into account the simultaneous impacts on trade, output, and industrial structure. They conclude that: · The static economywide effects of the AFTA liberalization to which Vietnam is currently committed are small. On the import side, the exclusion of a series of products from the AFTA commitments appears to limit the scope of trade creation, and the discriminatory nature of AFTA liberalization would divert Vietnam's trade from non-ASEAN members. · Vietnam's small initial exports to ASEAN make the gains from improved access to partner markets relatively modest. Since Singapore dominates Vietnam's ASEAN exports and initial protection in Singapore is close to zero, there are few gains from preferred status in this market. · When Vietnam extends its AFTA commitments to all of its trading partners on a most favored nation basis, its welfare increases substantially - partly because of the greater extent of liberalization, partly because the broader liberalization undoes the costly trade diversion created by the initial discriminatory liberalization, and finally because of the more efficient allocation of resources among Vietnam's industries. · AFTA, APEC, and unilateral liberalizations affect Vietnam's industries in different ways. AFTA appears to benefit Vietnam's agriculture by improving its access to the ASEAN market. · Broad unilateral liberalization beyond AFTA is likely to shift labor away from agriculture and certain import-competing activities toward relatively labor-intensive manufacturing. Reduced costs for intermediate inputs will benefit domestic production. These sectors conform to Vietnam's current comparative advantage, and undertaking broad unilateral liberalization now seems a promising way to facilitate the subsequent development of competitive firms in more capital- and skill-intensive sectors. By contrast, more intense import competition may lead some import substitution industries (now dependent on protection) to contract. · The higher level of welfare resulting from more comprehensive liberalization implies that the sectoral protection currently given to capital-intensive and strategic industries is imposing substantial implicit taxes on the rest of the economy. · All the above suggests that AFTA should be treated as an important initial step toward broader liberalization. Binding international commitments in AFTA and, in due course, at the World Trade Organization can provide a credible signal of Vietnam's commitment to open trade policies that will help stimulate the upgrading of existing firms and investment in efficient and dynamic firms. This paper - a product of Trade, Development Research Group - was prepared as part of the AFTA Expansion Project in collaboration with the East Asia and Pacific Region. The authors may be contacted at efukaseworldbank.org or wmartin1@worldbank.org
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  • 13
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    Does Corruption Relieve Foreign Investors of the Burden of Taxes and Capital Controls? (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (18 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Wei, Shang-Jin Does Corruption Relieve Foreign Investors of the Burden of Taxes and Capital Controls?
    Keywords: Capital Account ; Capital Control ; Capital Controls ; Currencies and Exchange Rates ; Debt Markets ; Domestic Capital ; Economic Theory and Research ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Financial Institutions ; Foreign Direct Investment ; Foreign Direct Investment ; Foreign Firms ; Foreign Investment ; Foreign Investors ; Income ; International Economics & Trade ; International Investors ; Investment ; Investment and Investment Climate ; Macroeconomics and Economic Growth ; Price ; Private Sector Development ; Public Policy ; Share ; Tax ; Tax Rate ; Tax Rates ; Taxation and Subsidies ; Taxes ; Capital Account ; Capital Control ; Capital Controls ; Currencies and Exchange Rates ; Debt Markets ; Domestic Capital ; Economic Theory and Research ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Financial Institutions ; Foreign Direct Investment ; Foreign Direct Investment ; Foreign Firms ; Foreign Investment ; Foreign Investors ; Income ; International Economics & Trade ; International Investors ; Investment ; Investment and Investment Climate ; Macroeconomics and Economic Growth ; Price ; Private Sector Development ; Public Policy ; Share ; Tax ; Tax Rate ; Tax Rates ; Taxation and Subsidies ; Taxes
    Abstract: October 1999 - Other things being equal, countries with higher tax rates, more corruption, or more restrictions on capital account transactions attract less foreign investment. Taxes and capital controls hinder foreign investment, and bureaucratic corruption adds to those burdens rather than reducing them. In a sample of 14 source countries making bilateral investments in 45 host countries, Wei finds that taxes, capital controls, and corruption all have large, statistically significant negative effects on foreign investment. Moreover, there is no robust support in the data for the efficient grease hypothesis - that corruption helps attract foreign investment by reducing firms' tax burden and the irritant of capital controls. This paper - a product of Public Economics, Development Research Group - is part of a larger effort in the group to study effective anticorruption strategies. It will appear as a chapter in a book on taxation and foreign direct investment edited by James Hines Jr. and to be published by the University of Chicago Press for the National Bureau of Economic Research. The author may be contacted at sweiworldbank.org
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  • 14
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    Fiscal Solvency and Sustainability in Economic Management (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (38 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Dinh, T. Hinh Fiscal Solvency and Sustainability in Economic Management
    Keywords: Banks and Banking Reform ; Budget ; Budget Defic Debt Service ; Currencies and Exchange Rates ; Debt Markets ; Developing Countries ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Exchange ; Exchange Rate ; External Debt ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal Adjustment ; Fiscal Defic Fiscal Effort ; Fiscal Policy ; Income Inequalities ; Income Levels ; International Financial Institutions ; Levy ; Long Term Debt ; Macroeconomic Policies ; Macroeconomic Stability ; Macroeconomics and Economic Growth ; Political Economy ; Poverty ; Private Sector Development ; Solvency ; Banks and Banking Reform ; Budget ; Budget Defic Debt Service ; Currencies and Exchange Rates ; Debt Markets ; Developing Countries ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Exchange ; Exchange Rate ; External Debt ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal Adjustment ; Fiscal Defic Fiscal Effort ; Fiscal Policy ; Income Inequalities ; Income Levels ; International Financial Institutions ; Levy ; Long Term Debt ; Macroeconomic Policies ; Macroeconomic Stability ; Macroeconomics and Economic Growth ; Political Economy ; Poverty ; Private Sector Development ; Solvency
    Abstract: October 1999 - In a financially integrated world, it is misleading to assess fiscal performance separate from other aspects of economic development. The framework proposed here can help assess fiscal performance over time and across countries and point to a pace of fiscal adjustment consistent with a country's economic and social objectives. Fiscal policy is central to a country's economic and social objectives, from macroeconomic stability to sustainable growth and poverty reduction. But evaluations of a country's fiscal performance, over time or relative to other countries, are often conducted independent of other development objectives, disregarding the links between fiscal, monetary, and exchange rate policies. A budget deficit of 4 percent of GDP, for example, may be acceptable in one country but not in another, because of different initial conditions and policy priorities. In the same country, a level of fiscal deficit may be acceptable one year but not the next, depending on developments and changes in policy objectives. Dinh argues for assessing fiscal performance (1) as part of the entire framework of economic policy, (2) against a policy objective, (3) by taking into account both short- and long-term considerations, and (4) with an eye to the quality of adjustment (whether there are income inequalities or other social issues, for example) as well as its magnitude. The approach he proposes for assessing country fiscal performance requires a minimum of data and takes into account flow and stock variables on internal and external debt. The approach addresses the shortcomings of conventional analysis by incorporating the debt dynamics and other macroeconomic targets of growth, inflation, and external and internal debt. While its theoretical foundation is well known in the literature, this approach has not been adapted for assessing fiscal performance either over time or across countries, and he discusses practical issues arising from this adaptation. Dinh proposes two indicators to measure fiscal adjustment efforts: · Fiscal solvency adjustment, which measures how far additional fiscal efforts must be taken to restore solvency to the fiscal sector. · Fiscal sustainability adjustment, which measures how far additional fiscal efforts must be taken to maintain the ratios of internal and external debt to output. Dinh applies the proposed framework to evaluate recent fiscal performance in three countries - Argentina, India, and Zambia - each with a different income level and located on a different continent. The countries were selected on the basis of recent World Bank economic work using the proposed approach or an equivalent. Dinh finds the proposed approach useful for identifying key fiscal issues, for assessing the adequacy and pace of fiscal adjustment consistent with the overall economic and social objectives, and for highlighting the tradeoffs between policy initiatives. Sound fiscal policy is crucial for macroeconomic stability. When fiscal issues are under control, it is easier to coordinate other policies. When fiscal issues are part of the problem, the tradeoffs between policy outcomes become pronounced, and economic management, including the management of capital flows, becomes much more difficult. This paper is a product of Macroeconomics 1, Africa Technical Families. The author may be contacted at hdinhworldbank.org
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  • 15
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    Who Avoids and Who Escapes from Poverty during the Transition? : Evidence from Polish Panel Data, 1993 96 (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (60 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Okrasa, Wlodzimierz Who Avoids and Who Escapes from Poverty during the Transition?
    Keywords: Chronic Poverty ; Employment Income ; Farm Self-Employment ; Food Consumption ; Health, Nutrition and Population ; Household Budget ; Household Income ; Household Welfare ; Human Capital ; Human Development ; Idiosyncratic Shocks ; Income ; Income Inequality ; Measures ; Poor ; Population Policies ; Poverty ; Poverty Line ; Poverty Reduction ; Poverty Reduction ; Poverty Reduction Strategy ; Rural ; Rural Development ; Rural Poverty Reduction ; Services and Transfers to Poor ; Unemployment ; Chronic Poverty ; Employment Income ; Farm Self-Employment ; Food Consumption ; Health, Nutrition and Population ; Household Budget ; Household Income ; Household Welfare ; Human Capital ; Human Development ; Idiosyncratic Shocks ; Income ; Income Inequality ; Measures ; Poor ; Population Policies ; Poverty ; Poverty Line ; Poverty Reduction ; Poverty Reduction ; Poverty Reduction Strategy ; Rural ; Rural Development ; Rural Poverty Reduction ; Services and Transfers to Poor ; Unemployment
    Abstract: November 1999 - There is a tendency toward chronic, long-term poverty in Poland. Most at risk: larger households, farm households, and households dependent on social welfare. Least at risk: households of employees or the self-employed, educated households, households headed by pensioners, households that are part of kinship networks, and households with liquid assets, durables, or access to financial resources. Among those who missed out on the benefits of the first phase of economic prosperity, children are overrepresented. Okrasa uses four-year panel data from Poland's Household Budget Survey to explore the distinction between transitory and long-term poverty, a crucial distinction in designing and evaluating poverty reduction strategies. Okrasa analyzes household welfare trajectories during the period 1993-96, to identify the long-term poor and to determine how relevant household asset endowments are as determinants of household poverty and vulnerability over time. He concludes that the chronically poor constitute a distinct and separate segment of the population, with low turnover. Among specific observations about factors that affect Poland's long-term poverty: · Variables in human capital significantly affected the pattern of repeated poverty and vulnerability. Larger households tended to experience poverty and vulnerability, mostly because they contained more children or other dependents. Households with elderly members and those headed by older people, by women rather than men, and by educated people of either gender were least likely to be poor. Poverty was unaffected by the presence of a disabled person in the household. · Households with liquid assets or durables, or with access to financial resources, were less likely to be poor and vulnerable. Households appeared to take advantage of credit and loans to maintain their current level of consumption rather than to augment their stock of assets. · Households that were part of kinship networks were less at risk of falling into chronic poverty or vulnerability. · Households headed by pensioners were least in danger of impoverishment. Those most in danger were farm households (including mixed households headed by workers with an agricultural holding) and households heavily dependent on social welfare. · Households of employees were better off than self-employed households when income-based measures of poverty were used but not when consumption-based measures were used. Neither group was significantly vulnerable. This paper - a product of Poverty and Human Resources, Development Research Group - is part of a larger effort in the group to study the dynamics of poverty and the effectiveness of the safety net. The author may be contacted at wokrasaworldbank.org
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  • 16
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    The Dynamics of Poverty and the Effectiveness of Poland's Safety Net (1993 96) (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (86 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Okrasa, Wlodzimierz The Dynamics of Poverty and the Effectiveness of Poland's Safety Net (1993 96)
    Keywords: Chronically Poor ; Economic Growth ; Health, Nutrition and Population ; Household Budget ; Household Income ; Human Development ; Income ; Measures ; Poor ; Poor Households ; Population Policies ; Poverty ; Poverty Dynamics ; Poverty Index ; Poverty Profile ; Poverty Reduction ; Rural ; Rural Areas ; Rural Development ; Rural Poverty Reduction ; Safety Nets and Transfers ; Savings ; Services and Transfers to Poor ; Social Policies ; Social Programs ; Social Protections and Labor ; Temporarily Poor ; Unemployment ; Chronically Poor ; Economic Growth ; Health, Nutrition and Population ; Household Budget ; Household Income ; Human Development ; Income ; Measures ; Poor ; Poor Households ; Population Policies ; Poverty ; Poverty Dynamics ; Poverty Index ; Poverty Profile ; Poverty Reduction ; Rural ; Rural Areas ; Rural Development ; Rural Poverty Reduction ; Safety Nets and Transfers ; Savings ; Services and Transfers to Poor ; Social Policies ; Social Programs ; Social Protections and Labor ; Temporarily Poor ; Unemployment
    Abstract: November 1999 - Changes in Poland's family allowances and unemployment benefits have significant but different effects on different groups of households. In deciding on strategies to address long-term poverty, policymakers must take such differences into account. Okrasa analyzes how the incidence of household endowments and the allocation of social benefits affect families' transitions into and out of poverty. Using panel data for 1993-96 from Poland's Household Budget Survey, and a framework based on sample survival analysis techniques, Okrasa evaluates how various policies will affect households with specific characteristics that make them likely to become poor or to move out of poverty under different scenarios (including whether or not they receive a given amount of a particular type of social transfer). He also discusses how nonincome sources of welfare, such as savings, credits, and loans, affect the likelihood that families will become or stop being poor. He concludes that family allowances and unemployment benefits, the two major social programs analyzed, have significant but different effects on different groups of households (characterized in terms of the age, gender, marital status, and educational attainment of the head of household; the size, type, location, and sector of employment of the family or household; and the year in which the household fell into poverty). If the share of family allowances in total household income were reduced by 1 percent, for example, the average length of poverty would be increased by roughly 2 percent. But a 1 percent change in unemployment benefits would yield a 3 percent change in the average duration of poverty. Differences in hazard rates for various subgroups would be even greater. Households in villages were much more likely to fall into poverty than households in cities and large towns, but the poor in towns and cities had more difficulty exiting poverty. There was generally less poverty mobility among households headed by public sector employees than among those headed by employees in the private sector. Families with three or more children and one-parent families (and grandparents with children) faced the greatest risk of being poor; single-person households and childless married couples were the least endangered. Small nuclear families with one or two children and families without children fell between these two extremes. This paper - a product of Poverty and Human Resources, Development Research Group - is part of a larger effort in the group to analyze the dynamics of poverty and the effectiveness of the safety net. The study was funded by the Bank's Research Support Budget under the research project Household Welfare Change during the Transition (RPO 681-21). The author may be contacted at wokrasaworldbank.org
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  • 17
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    How Did Highly Indebted Poor Countries Become Highly Indebted? : Reviewing Two Decades of Debt Relief (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (44 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Easterly, William How Did Highly Indebted Poor Countries Become Highly Indebted?
    Keywords: Amount Of Debt ; Banks and Banking Reform ; Commercial Banks ; Currencies and Exchange Rates ; Debt ; Debt Markets ; Debt Payment ; Debt Relief ; Debt Service ; Debt Servicing ; Debt-Service ; Default ; Discount ; Discount Rate ; Economic Theory and Research ; Emerging Markets ; External Debt ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Foreign Debt ; Foreign Loan ; Foreign Loans ; Forgiveness ; Good ; Indebted Countries ; International Economics & Trade ; Macroeconomics and Economic Growth ; Private Sector Development ; Productive Investments ; Strategic Debt Management ; Third World Debt ; Amount Of Debt ; Banks and Banking Reform ; Commercial Banks ; Currencies and Exchange Rates ; Debt ; Debt Markets ; Debt Payment ; Debt Relief ; Debt Service ; Debt Servicing ; Debt-Service ; Default ; Discount ; Discount Rate ; Economic Theory and Research ; Emerging Markets ; External Debt ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Foreign Debt ; Foreign Loan ; Foreign Loans ; Forgiveness ; Good ; Indebted Countries ; International Economics & Trade ; Macroeconomics and Economic Growth ; Private Sector Development ; Productive Investments ; Strategic Debt Management ; Third World Debt
    Abstract: November 1999 - Theoretical models predict that countries with unchanged long-run savings preferences will respond to debt relief by running up new debts or by running down assets. And there are some signs that incremental debt relief over the past two decades has fulfilled those predictions. Debt relief is futile for countries with unchanged long-run savings preferences. How did highly indebted poor countries become highly indebted after two decades of debt relief efforts? A set of theoretical models predict that countries with unchanged long-run savings preferences will respond to debt relief with a mixture of asset decumulation and new borrowing. A model also predicts that a high-discount-rate government will choose poor policies and impose its intertemporal preferences on the entire economy. Reviewing the experience of highly indebted poor countries, compared with that of other developing countries, Easterly finds direct and indirect evidence of asset decumulation and new borrowing associated with debt relief. The ratio of the net present value of debt to exports rose strongly over 1979-97 despite the debt relief efforts. Average policies in highly indebted poor countries were generally worse than those in other developing countries, controlling for income. The trend for terms of trade was no different in highly indebted poor countries than in other developing countries, not were wars more likely in highly indebted poor countries. Over time there has been an important shift in financing for highly indebted poor countries, away from private and bilateral nonconcessional sources to the International Development Association and other sources of multilateral concessional financing. But this implicit form of debt relief also failed to reduce debt in net present value terms. Although debt relief is done in the name of the poor, the poor are worse off if debt relief creates incentives to delay reforms needed for growth. This paper - a product of Macroeconomics and Growth, Development Research Group - is part of a larger effort in the group to study the effectiveness of aid for growth. The author may be contacted at weasterlyworldbank.org
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  • 18
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    Do School Facilities Matter? : The Case of the Peruvian Social Fund (FONCODES) (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (40 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Schady, Norbert Do School Facilities Matter?
    Keywords: Access To Schooling ; Attendance Rate ; Attendance Rates ; Classrooms ; Communities & Human Settlements ; Disability ; Education ; Education ; Education for All ; Educational Infrastructure ; Educational Inputs ; Educational Outcomes ; Finance and Financial Sector Development ; Financial Literacy ; Gender ; Gender and Education ; Health, Nutrition and Population ; Housing and Human Habitats ; Illiteracy ; Investments In Education ; Population Policies ; Poverty Monitoring and Analysis ; Poverty Reduction ; Primary Education ; Public School ; Rural Development ; Rural Poverty Reduction ; Sanitation ; School ; School Attendance ; School Breakfast ; School Facilities ; School Level ; Schoolchildren ; Social Protections and Labor ; Tertiary Education ; Textbooks ; Values ; Access To Schooling ; Attendance Rate ; Attendance Rates ; Classrooms ; Communities & Human Settlements ; Disability ; Education ; Education ; Education for All ; Educational Infrastructure ; Educational Inputs ; Educational Outcomes ; Finance and Financial Sector Development ; Financial Literacy ; Gender ; Gender and Education ; Health, Nutrition and Population ; Housing and Human Habitats ; Illiteracy ; Investments In Education ; Population Policies ; Poverty Monitoring and Analysis ; Poverty Reduction ; Primary Education ; Public School ; Rural Development ; Rural Poverty Reduction ; Sanitation ; School ; School Attendance ; School Breakfast ; School Facilities ; School Level ; Schoolchildren ; Social Protections and Labor ; Tertiary Education ; Textbooks ; Values
    Abstract: A revised version was published as The Allocation and Impact of Social Funds: Spending on School Infrastructure in Peru (with Christina Paxson). World Bank Economic Review 16 (2): 297-319, 2002. - Education projects of the Peruvian Social Fund (FONCODES) have reached poor districts and, to the extent they live in those districts, poor households. FONCODES has had a positive effect on school attendance rates for young children, but not on the likelihood that children will be at an appropriate school level for their age. Since its creation in 1991, the Peruvian Social Fund (FONCODES) has spent about US
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  • 19
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    User's Guide to an Early Warning System for Macroeconomic Vulnerability in Latin American Countries (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (22 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Herrera, Santiago User's Guide to an Early Warning System for Macroeconomic Vulnerability in Latin American Countries
    Keywords: Arts and Music ; Banking Crises ; Credit Growth ; Culture & Development ; Currency ; Currency Crises ; Debt Markets ; Domestic Cred Exchange ; Economic Conditions and Volatility ; Economic Theory and Research ; Educational Technology and Distance Learning ; Exchange Rate ; Federal Reserve ; Federal Reserve System ; Finance and Financial Sector Development ; Financial Crises ; Financial Literacy ; Geographical Information Systems ; Good ; Inflation ; Inflation Rate ; Information Security and Privacy ; Instrument ; Interest ; Interest Rates ; Macroeconomics and Economic Growth ; Market ; Markets and Market Access ; Options ; Real Exchange Rate ; Reserves ; Science and Technology Development ; Statistical and Mathematical Sciences ; Arts and Music ; Banking Crises ; Credit Growth ; Culture & Development ; Currency ; Currency Crises ; Debt Markets ; Domestic Cred Exchange ; Economic Conditions and Volatility ; Economic Theory and Research ; Educational Technology and Distance Learning ; Exchange Rate ; Federal Reserve ; Federal Reserve System ; Finance and Financial Sector Development ; Financial Crises ; Financial Literacy ; Geographical Information Systems ; Good ; Inflation ; Inflation Rate ; Information Security and Privacy ; Instrument ; Interest ; Interest Rates ; Macroeconomics and Economic Growth ; Market ; Markets and Market Access ; Options ; Real Exchange Rate ; Reserves ; Science and Technology Development ; Statistical and Mathematical Sciences
    Abstract: Models for an early warning system do a good job predicting vulnerability to macroeconomic crises in several Latin American countries. - Herrera and Garcia develop an early warning system for macroeconomic vulnerability for several Latin American countries, drawing on the work of Kaminsky, Lizondo, and Reinhart (1997) and Kaminsky (1988). They build a composite leading indicator that signals macroeconomic vulnerability, showing that, historically, crises tend to happen in certain vulnerable situations. Interested mainly in providing an operational tool, Herrera and Garcia use a different approach to the problem than Kaminsky did. First, they use fewer variables to generate the signals. Then, after the variables are aggregated, a signal is issued, depending on the behavior of the composite index. (Kaminsky's procedure was to generate signals with each variable and then aggregate them.) Their results are satisfactory both statistically and operationally. Statistically, Type I and Type II errors are smaller than those reported in previous papers. Operationally, this system of leading indicators is less costly to maintain, given fewer variables - which are widely available and reported with timeliness. Herrera and Garcia tested the models' out-of-sample predictive ability on crises that occurred after the first stage of their project was finished: Colombia (September 1998), Brazil (January 1999), and Ecuador (February 1999). In all cases the models correctly anticipated the speculative attacks. Moreover, Mexico's models, estimated with information available two years before the 1994 crisis, show that these signaling devices would have been useful for signaling the macroeconomic vulnerability before December 1994. This paper - a product of the Economic Policy Sector Unit, Latin America and the Caribbean Region - is part of a larger effort in the region to build tools that policymakers can use to prevent crises. The authors may be contacted at cgarciacoradoworldbank.org or sherrera@worldbank.org
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    Reforming Tax Systems : The World Bank Record in the 1990s (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (44 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Barbone, Luca Reforming Tax Systems
    Keywords: Accountability ; Audits ; Bank ; Banks and Banking Reform ; Communities & Human Settlements ; Debt Markets ; E-Business ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Governance ; Governance Capacity Building ; Housing and Human Habitats ; Institutional Development ; Law and Development ; Lending ; Loans ; Macroeconomic Stability ; Macroeconomics and Economic Growth ; Principal ; Private Sector Development ; Projects ; Public Sector Development ; Public Sector Economics and Finance ; Revenue ; Risk ; Services ; Social Services ; Structural Adjustment ; Tax Law ; Tax Policy and Administration ; Tax Reform ; Taxation ; Taxation and Subsidies ; Technical Assistance ; Value ; Accountability ; Audits ; Bank ; Banks and Banking Reform ; Communities & Human Settlements ; Debt Markets ; E-Business ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Governance ; Governance Capacity Building ; Housing and Human Habitats ; Institutional Development ; Law and Development ; Lending ; Loans ; Macroeconomic Stability ; Macroeconomics and Economic Growth ; Principal ; Private Sector Development ; Projects ; Public Sector Development ; Public Sector Economics and Finance ; Revenue ; Risk ; Services ; Social Services ; Structural Adjustment ; Tax Law ; Tax Policy and Administration ; Tax Reform ; Taxation ; Taxation and Subsidies ; Technical Assistance ; Value
    Abstract: In efforts to reform the administration of tax systems, the World Bank can substantially improve project design, execution, and effectiveness by adopting a more concerted approach to institutional analysis. - The main constraint on World Bank operations in tax and customs administration is the Bank's inadequate institutional framework for accumulating knowledge from loan operations, concludes this review of the Bank's record on reform of tax systems in the 1990s. The Bank's theoretical basis for reforming tax and customs administration is still rudimentary. Recent theories stress the importance of institutions that harness voice and improve transparency and contestability, but there is little evidence that reform of these factors alone makes tax administration more effective. Improvements are needed in pre-project diagnosis and project design, especially for examining accountability, administration costs, managerial autonomy, performance incentives for staff, taxpayer equity and services, and environmental factors. Pre-project work could draw more systematically on lessons from previous experience. Institutional components of project design have been biased toward organization, manpower upgrading, and procedures related to information technology. Too little attention has been paid to improving accountability, administrative cost-effectiveness, and anticorruption institution-building. Projects have made inadequate use of different kinds of performance indicators, with little uniformity in those applied. Methods used to evaluate project outcomes could be better and more uniform. Suggestions for future Bank operations: · Doing better background work and articulating a strategy and comprehensive framework for Bank involvement in reform of tax administration. · Possibly supporting and strengthening regional tax administration associations, which could serve as catalysts for change. · Strengthening partnering and supporting private sector consultant organizations, so they can manage major components of administrative reform. · Institutionalizing the accumulation of knowledge about tax administration (which might require changing staff recruitment, the mix of staff skills, and training plans). The authors provide recommendations for improving project diagnosis, design, performance indicators, and appraisal, as well as a short list of projects that serve as guides to good practice. This paper - a product of the Public Sector Management Division, Poverty Reduction and Economic Management Network - is part of a larger effort in the network to draw on lessons of past Bank activity in order to pursue professional excellence and maximum client impact. The authors may be contacted at lbarboneworldbank.org, oldmonk87@yahoo.com, ldewulf@worldbank.org, or ahansson1@worldbank.org
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    How Land Registration Affects Financial Development and Economic Growth in Thailand (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (38 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Byamugish, K.F. Frank How Land Registration Affects Financial Development and Economic Growth in Thailand
    Keywords: Banks and Banking Reform ; Climate Change ; Communities & Human Settlements ; Cred Development ; Debt Markets ; Economic Growth ; Economic Growth ; Economic Historians ; Economic Theory and Research ; Environment ; Equations ; Finance and Financial Sector Development ; Financial Crisis ; GDP Per Capita ; Incentives ; Inequality ; Investment ; Land Use and Policies ; Liquidity ; Macroeconomics and Economic Growth ; Markets ; Natural Resources ; Poverty Reduction ; Private Property ; Pro-Poor Growth ; Productivity ; Property Rights ; Public Sector Economics and Finance ; Real GDP ; Regression Analysis ; Rural Development ; Rural Land Policies for Poverty Reduction ; Theory ; Value ; Variables ; Banks and Banking Reform ; Climate Change ; Communities & Human Settlements ; Cred Development ; Debt Markets ; Economic Growth ; Economic Growth ; Economic Historians ; Economic Theory and Research ; Environment ; Equations ; Finance and Financial Sector Development ; Financial Crisis ; GDP Per Capita ; Incentives ; Inequality ; Investment ; Land Use and Policies ; Liquidity ; Macroeconomics and Economic Growth ; Markets ; Natural Resources ; Poverty Reduction ; Private Property ; Pro-Poor Growth ; Productivity ; Property Rights ; Public Sector Economics and Finance ; Real GDP ; Regression Analysis ; Rural Development ; Rural Land Policies for Poverty Reduction ; Theory ; Value ; Variables
    Abstract: November 1999 - Land registration in Thailand has significant positive long-run effects on financial development and economic growth. Using an economywide conceptual framework, the author analyzes how land registration affects financial development and economic growth in Thailand. He uses contemporary techniques, such as error correction and co-integration, to deal with such problems as time-series data not being stationary. He also uses the auto-regressive distributed lag model to analyze long lags in output response to changes in land registration. His key findings: -Land titling has significant positive long-run effects on financial development. -Economic growth responds to land titling following a J curve, by first registering a fall and recovering gradually, thereafter to post a long, strong rally. -The quality of land registration services, as measured by public spending on land registration, has strongly positive and significant long-run effects on economic growth. This paper - a product of the Rural Development and Natural Resources Sector Unit, East Asia and Pacific Region - is part of a larger effort in the region to increase the effectiveness of country assistance strategies in the area of property rights and economic development. The author may be contacted at fbyamugishaworldbank.org
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  • 22
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    Liquidity Constraints and Investment in Transition Economies : The Case of Bulgaria (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (30 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Budina, Nina Liquidity Constraints and Investment in Transition Economies
    Keywords: Banks and Banking Reform ; Budget ; Budget Constraints ; Capital Markets ; Cash Flow ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Crisis ; Financial Institutions ; Financial Intermediation ; Financial Literacy ; Financial Market ; Financial Structure ; Financial System ; Financial Weakness ; Investment ; Investment Function ; Investment Projects ; Liquidity ; Liquidity Constraints ; Macroeconomics and Economic Growth ; Market ; Market Economies ; Market Economy ; Private Sector Development ; Transition Economies ; Banks and Banking Reform ; Budget ; Budget Constraints ; Capital Markets ; Cash Flow ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Crisis ; Financial Institutions ; Financial Intermediation ; Financial Literacy ; Financial Market ; Financial Structure ; Financial System ; Financial Weakness ; Investment ; Investment Function ; Investment Projects ; Liquidity ; Liquidity Constraints ; Macroeconomics and Economic Growth ; Market ; Market Economies ; Market Economy ; Private Sector Development ; Transition Economies
    Abstract: January 2000 - In Bulgaria and other transition economies, liquidity constraints and hence access to external funds must be seen in the context of soft budget constraints and the financial system's failure to enforce the efficient allocation of funds. Liquidity constraints in Bulgaria may be seen as a sign of financial weakness. Budina, Garretsen, and de Jong use firm level data on Bulgaria to investigate the impact of liquidity constraints on firms' investment performance. Internal funds are an important determinant of investment in most industrial economies. The authors use a simple accelerator model of investment to test whether liquidity constraints are relevant in Bulgaria's case. Their estimates are based on data for 1993-95, before Bulgaria's financial crisis of 1996-97. It turns out that Bulgarian firms are liquidity-constrained and that firms' size and financial structure help to distinguish between firms that are more and less liquidity-constrained. In the authors' view, liquidity constraints in transition economies should be interpreted in different ways than those in industrial economies. In Bulgaria, liquidity constraints and hence access to external funds should be seen in the context of soft budget constraints and the financial system's failure to enforce the efficient allocation of funds. The relationship between liquidity constraints and firm characteristics may actually be the opposite of what is normally the case in industrial countries. In Bulgaria, lack of liquidity constraints may be a sign of financial weakness. This paper - a product of Macroeconomics and Growth, Development Research Group - is part of a larger effort in the group to study transition economies. The authors may be contacted at nbudinaworldbank.org, h.garretsen@bw.kun.nl or e.dejong@bw.kun.nl
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    New Tools and New Tests in Comparative Political Economy : The Database of Political Institutions (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (52 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Clarke, George New Tools and New Tests in Comparative Political Economy
    Keywords: Cabinet ; Candidates ; Constituents ; Decision Makers ; Decision Making ; Democracy ; E-Business ; E-Government ; Economic Theory and Research ; Election ; Election Data ; Elections ; Governance ; Government ; Industry ; Information Security and Privacy ; Legislation ; Legislative Powers ; Legislators ; Macroeconomics and Economic Growth ; Microfinance ; Parliament ; Parliamentary Government ; Parliamentary Governments ; Parliamentary Systems ; Policy Making ; Political System ; Political Systems ; Prime Minister ; Private Sector Development ; Public Sector Corruption and Anticorruption Measures ; Technology Industry ; Cabinet ; Candidates ; Constituents ; Decision Makers ; Decision Making ; Democracy ; E-Business ; E-Government ; Economic Theory and Research ; Election ; Election Data ; Elections ; Governance ; Government ; Industry ; Information Security and Privacy ; Legislation ; Legislative Powers ; Legislators ; Macroeconomics and Economic Growth ; Microfinance ; Parliament ; Parliamentary Government ; Parliamentary Governments ; Parliamentary Systems ; Policy Making ; Political System ; Political Systems ; Prime Minister ; Private Sector Development ; Public Sector Corruption and Anticorruption Measures ; Technology Industry
    Abstract: February 2000 - Some say that democracy is more likely to survive under parliamentary governments. That result is not robust to the use of different variables from the Database of Political Institutions, a large new cross-country database that may illuminate many other issues affecting and affected by political institutions. This paper introduces a large new cross-country database on political institutions: the Database on Political Institutions (DPI). Beck, Clarke, Groff, Keefer, and Walsh summarize key variables (many of them new), compare this data set with others, and explore the range of issues for which the data should prove invaluable. Among the novel variables they introduce: · Several measures of tenure, stability, and checks and balances. · Identification of parties with the government coalition or the opposition. · Fragmentation of opposition and government parties in legislatures. The authors illustrate the application of DPI variables to several problems in political economy. Stepan and Skach, for example, find that democracy is more likely to survive under parliamentary governments than presidential systems. But this result is not robust to the use of different variables from the DPI, which raises puzzles for future research. Similarly, Roubini and Sachs find that divided governments in the OECD run higher budget deficits after fiscal shocks. Replication of their work using DPI indicators of divided government indicates otherwise, again suggesting issues for future research. Among questions in political science and economics that this database may illuminate: the determinants of democratic consolidation, the political conditions for economic reform, the political and institutional roots of corruption, and the elements of appropriate and institutionally sensitive design of economic policy. This paper - a product of Regulation and Competition Policy, Development Research Group - is part of a larger effort in the group to understand the institutional bases of poverty alleviation and economic reform. The study was funded by the Bank's Research Support Budget under the research project Database on Institutions for Government Decisionmaking (RPO 682-79). The authors may be contacted at tbeckworldbank.org, gclarke@worldbank.org, pkeefer@worldbank.org, or pwalsh@worldbank.org
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  • 24
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    Regulatory Reform in Mexico's Natural Gas Industry : Liberalization in the Context of a Dominant Upstream Incumbent (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (42 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Halpern, Jonathan Regulatory Reform in Mexico's Natural Gas Industry
    Keywords: Air ; Air Pollution ; Cleaner Fuels ; Diesel ; Driving ; Emission Standards ; Energy ; Energy Production and Transportation ; Fuel ; Fuel Oil ; Fuels ; Gas Sector ; Industry ; Infrastructure ; Infrastructure Economics and Finance ; Infrastructure Regulation ; Investments ; Macroeconomics and Economic Growth ; Markets and Market Access ; Oil and Gas Industry ; Petroleum Gas ; Pollution ; Transport ; Transport Economics, Policy and Planning ; Water Resources ; Water and Industry ; Air ; Air Pollution ; Cleaner Fuels ; Diesel ; Driving ; Emission Standards ; Energy ; Energy Production and Transportation ; Fuel ; Fuel Oil ; Fuels ; Gas Sector ; Industry ; Infrastructure ; Infrastructure Economics and Finance ; Infrastructure Regulation ; Investments ; Macroeconomics and Economic Growth ; Markets and Market Access ; Oil and Gas Industry ; Petroleum Gas ; Pollution ; Transport ; Transport Economics, Policy and Planning ; Water Resources ; Water and Industry
    Abstract: January 2001 - Liberalization of the natural gas industry is complex because the sector combines activities with natural monopoly characteristics with activities that are potentially competitive. The challenges are compounded when the State opts to retain vertically integrated monopolies in otherwise contestable segments of the industry. Regulatory issues associated with partial liberalization of natural gas markets are analyzed through a case study of Mexico. The natural gas industry combines activities with natural monopoly characteristics with those that are potentially competitive. Pipeline transport and distribution, which have natural monopoly characteristics, require regulation of price and nonprice behavior. Production is a contestable activity, but in a few countries (including Mexico) it remains a state monopoly. Gas marketing is also contestable, but the presence of a dominant, upstream, vertically integrated incumbent may pose significant barriers to entry. Market architecture decisions—such as horizontal structure, regional development, and the degree of vertical integration—are also crucial. Rosellón and Halpern report that Mexico has undertaken structural reform in the energy sector more slowly than many other countries, but it has introduced changes to attract private investment in natural gas transport and distribution. These changes were a response to the rapid growth in demand for natural gas (about 10 percent a year) in Mexico, which was in turn a response to economic development and the enforcement of environmental regulations. The new regulatory framework provides incentives for firms to invest and operate efficiently and to bear much of the risk associated with new projects. It also protects captive consumers and improves general economic welfare. The continued vertical integration of the state-owned company Pemex and its statutory monopoly in domestic production posed a challenge to regulators. Their response in liberalizing trade, setting first-hand sales prices, and regulating natural gas distribution makes the Mexican case an interesting example of regulatory design. As the first phase of investment mobilization and competition for the market in Mexican distribution projects concludes, remaining challenges include consistently and transparently enforcing regulations, coordinating tasks among government agencies, and ensuring expansion of gas transport services and domestic production. A key challenge in the near term will be fostering competition in the market. In strengthening the role of market forces, one issue is Pemex's discretionary discounts on domestic gas and access to transport services, made possible by its monopoly in domestic production and marketing activities and its overwhelming dominance in transport. The main instrument available to the regulator is proscribing Pemex contract pricing, but more durable and tractable instruments should be considered. This paper—a product of the Finance, Private Sector, and Infrastructure Sector Unit, Latin America and the Caribbean Region—is part of a larger effort in the region to evaluate and disseminate lessons of experience in designing policies to improve the quality and sustainability of infrastructure services. The authors may be contacted at jrosellondis1.cide.mx or jhalpern@worldbank.org
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    The Impact of Banking Crises on Money Demand and Price Stability (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (86 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Peria, Maria The Impact of Banking Crises on Money Demand and Price Stability
    Keywords: Central Banks ; Currencies and Exchange Rates ; Debt Markets ; Demand ; Demand For Money ; Deregulation ; Economic Theory and Research ; Emerging Markets ; Equations ; Exchange ; Exchange Rates ; Finance and Financial Sector Development ; Financial Intermediation ; Financial Literacy ; Fiscal and Monetary Policy ; Government Bonds ; Inflation ; Interest ; Interest Rates ; Labor Policies ; M2 ; Macroeconomics and Economic Growth ; Markets and Market Access ; Monetary Policy ; Money ; Multipliers ; Prices ; Private Sector Development ; Public Sector Development ; Social Protections and Labor ; Stock ; Stock Prices ; T-Bills ; Variables ; Central Banks ; Currencies and Exchange Rates ; Debt Markets ; Demand ; Demand For Money ; Deregulation ; Economic Theory and Research ; Emerging Markets ; Equations ; Exchange ; Exchange Rates ; Finance and Financial Sector Development ; Financial Intermediation ; Financial Literacy ; Fiscal and Monetary Policy ; Government Bonds ; Inflation ; Interest ; Interest Rates ; Labor Policies ; M2 ; Macroeconomics and Economic Growth ; Markets and Market Access ; Monetary Policy ; Money ; Multipliers ; Prices ; Private Sector Development ; Public Sector Development ; Social Protections and Labor ; Stock ; Stock Prices ; T-Bills ; Variables
    Abstract: March 2000 - Policymakers in countries undergoing banking crises should not worry about the structural stability of money demand functions; the behavior of money demand during crises can be modeled by the same function used during periods of tranquility. But policymakers should be aware that in some instances crises can give rise to variance instability in the price or inflation equations. Martinez Peria empirically investigates the monetary impact of banking crises in Chile, Colombia, Denmark, Japan, Kenya, Malaysia, and Uruguay. She uses cointegration analysis and error correction modeling to research: · Whether money demand stability is threatened by banking crises. · Whether crises bring about structural breaks in the relationship between monetary indicators and prices. Overall, she finds no systematic evidence that banking crises cause money demand instability. Nor do the results consistently support the notion that the relationship between monetary indicators and prices undergoes structural breaks during crises. However, although individual coefficients in price equations do not seem to be severely affected by crises, crises can sometimes give rise to variance instability in price or inflation equations. This paper - a product of Finance, Development Research Group - is part of a larger effort in the group to study banking crises. The study was funded by the Bank's Research Support Budget under the research project Monetary Policy and Monetary Indicators during Banking Crises (RPO 683-24). The author may be contacted at mmartinezperiaworldbank.org
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    What Drives Private Saving around the World? (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (38 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Loayza, Norman What Drives Private Saving around the World?
    Keywords: Capital Gains ; Central Bank ; Currencies and Exchange Rates ; Debt Markets ; Demographic ; Developing Countries ; Developing Country ; Disposable Income ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal Policy ; Housing Lending ; Income ; Inequality ; Inflation Episodes ; Interest ; Interest Rate ; Interest Rates ; Liberalization ; Macroeconomics and Economic Growth ; Pension ; Pension System ; Poverty Reduction ; Prices ; Private Saving ; Private Sector Development ; Pro-Poor Growth ; Public Policies ; Trade ; Capital Gains ; Central Bank ; Currencies and Exchange Rates ; Debt Markets ; Demographic ; Developing Countries ; Developing Country ; Disposable Income ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal Policy ; Housing Lending ; Income ; Inequality ; Inflation Episodes ; Interest ; Interest Rate ; Interest Rates ; Liberalization ; Macroeconomics and Economic Growth ; Pension ; Pension System ; Poverty Reduction ; Prices ; Private Saving ; Private Sector Development ; Pro-Poor Growth ; Public Policies ; Trade
    Abstract: March 2000 - Saving rates vary considerably across countries and over time. Policies that spur development are an indirect but effective way to raise private saving rates - which rise with the level and growth rate of real per capita income. Loayza, Schmidt-Hebbel, and Servén investigate the policy and nonpolicy factors behind saving disparities, using a large panel data set and an encompassing approach including several relevant determinants of private saving. They extend the literature in several dimensions by: · Using the largest data set on aggregate saving assembled to date. · Using panel instrumental variable techniques to correct for endogeneity and heterogeneity. · Performing robustness checks on changes in estimation procedures, data samples, and model specification. Their main empirical findings: · Private saving rates show considerable inertia (are highly serially correlated even after controlling for other relevant factors). · Private saving rates rise with the level and growth rate of real per capita income. So policies that spur development are an indirect but effective way to raise private saving rates. · Predictions of the life-cycle hypothesis are supported in that dependency ratios generally have a negative effect on private saving rates. · The precautionary motive for saving is supported by the finding that inflation - conventionally taken as a summary measure of macroeconomic volatility - has a positive impact on private saving, holding other facts constant. · Fiscal policy is a moderately effective tool for raising national saving. · The direct effects of financial liberalization are largely detrimental to private saving rates. Greater availability of credit reduces the private saving rate; financial depth and higher real interest rates do not increase saving. This paper - a product of Macroeconomics and Growth, Development Research Group - is part of a larger effort in the group to understand the determinants of saving in developing countries. The study was funded by the Bank's Research Support Budget under the research project Saving in the World: Puzzles and Policies (RPO 681-36). The authors may be contacted at nloayzaworldbank.org or lserven@worldbank.org
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    Endogenous Enforcement and Effectiveness of China's Pollution Levy System (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (32 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Wang, Hua Endogenous Enforcement and Effectiveness of China's Pollution Levy System
    Keywords: Abatement ; Air Pollution ; Economic Development ; Economists ; Emissions ; Environment ; Environmental ; Environmental Economics and Policies ; Environmental Performance ; Environmental Protection ; Environmental Quality ; Green Issues ; Income ; Industry ; Labor ; Labor Force ; Pollution ; Pollution Charges ; Poverty ; Production ; Public Sector Development ; Standards ; Sulfur Dioxide ; Water ; Water Pollution ; Water Resources ; Water and Industry ; Abatement ; Air Pollution ; Economic Development ; Economists ; Emissions ; Environment ; Environmental ; Environmental Economics and Policies ; Environmental Performance ; Environmental Protection ; Environmental Quality ; Green Issues ; Income ; Industry ; Labor ; Labor Force ; Pollution ; Pollution Charges ; Poverty ; Production ; Public Sector Development ; Standards ; Sulfur Dioxide ; Water ; Water Pollution ; Water Resources ; Water and Industry
    Abstract: May 2000 - How well air and water pollution regulation is implemented depends very much on both the level of economic development and actual environmental quality. Pollution pricing is closer to the dictates of environmental economics than China's formal regulatory statutes would suggest - and there is considerable scope for using economic instruments to reduce China's industrial pollution problems. Wang and Wheeler investigate two aspects of China's pollution levy system, which was first implemented about 20 years ago. First, they analyze what determines differences in enforcement of the pollution levy in various urban areas. They find that collection of the otherwise uniform pollution levy is sensitive to differences in economic development and environmental quality. Air and water pollution levies are higher in areas that are heavily polluted. Second, they analyze the impact of pollution charges on industry's environmental performance, in terms of the pollution intensity of process production and the degree of end-of-pipe abatement for both water pollution and air pollution. Econometric analysis shows that plants respond strongly to the levy by either abating air pollution in the production process or providing end-of-pipe treatment for water pollution. This paper - a product of Infrastructure and Environment, Development Research Group - is part of a larger effort in the group to study environmental regulation in developing countries. The authors may be contacted at hwang1worldbank.org or dwheeler1@worldbank.org
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    Building Subnational Debt Markets in Developing and Transition Economies : A Framework for Analysis, Policy Reform, and Assistance Strategy (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (54 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Noel, Michel Building Subnational Debt Markets in Developing and Transition Economies
    Keywords: Agency Problems ; Bond Market Players ; Debt Market ; Debt Markets ; Decentralization ; Domestic Bond ; Domestic Bond Market ; Domestic Debt ; Domestic Debt Markets ; Finance ; Finance and Financial Sector Development ; Financial Sector Development ; Financial Systems ; Markets Development ; Sub-National Bond ; Sub-National Bond Market ; Sub-National Bond Markets ; Sub-National Debt ; Sub-National Debt Market ; Sub-National Debt Market Development ; Sub-National Debt Markets ; Transition Countries ; Agency Problems ; Bond Market Players ; Debt Market ; Debt Markets ; Decentralization ; Domestic Bond ; Domestic Bond Market ; Domestic Debt ; Domestic Debt Markets ; Finance ; Finance and Financial Sector Development ; Financial Sector Development ; Financial Systems ; Markets Development ; Sub-National Bond ; Sub-National Bond Market ; Sub-National Bond Markets ; Sub-National Debt ; Sub-National Debt Market ; Sub-National Debt Market Development ; Sub-National Debt Markets ; Transition Countries
    Abstract: May 2000 - Because of the trend toward decentralization in more than 70 countries where the World Bank is active, subnational entities - states, regions, provinces, counties, and municipalities, and the local utility companies owned by them - are now responsible for delivering services and investing in infrastructure. And infrastructure investments are growing rapidly to meet increasing urban demand. How should the World Bank Group help? Subnational debt markets can be a powerful force in a country's development. Through delegated monitoring by financial intermediaries and through debt placed directly with investors, sub-national debt markets account for about 5 percent of GDP in Argentina and Brazil. But they remain embryonic in most developing and transition economies. To resolve a potential clash between the increased financing needs of subnational entities and the limited development of domestic subnational debt markets, it is critical to support the orderly, efficient emergence of such debt markets. As a framework for policy reform, the following steps (mirroring typical weaknesses) are prerequisites for developing a country's subnational debt market: · Reducing moral hazard. · Improving market transparency. · Strengthening market governance. · Establishing a level playing field. · Developing local capacity for accounting, budgeting, and financial management. In countries where the government shows a clear commitment to market development, says Noel, the IBRD should support the framework needed for policy-based operations that establish hard budget constraints. In doing so, the IBRD should concentrate on (1) supporting national and local capacity building in those areas essential for developing a subnational debt market and (2) financing specific subnational projects with strictly nonrecourse loans. At the same time, the World Bank Group should offer a variety of lending and guarantee instruments that encourage private financing for investments by subnational entities - including, for example, equity participation in (or lines of credit or partial credit guarantees to) financial intermediaries specializing in subnational investment finance or in funds for financing local infrastructure. This paper - a product of the Private and Financial Sectors Development Unit, Europe and Central Asia Region - was prepared as background for a manual on policy issues relating to domestic debt markets. Michel Noel may be contacted at mnoel2worldbank.org
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    Give Growth and Macroeconomic Stability in Russia a Chance : Harden Budgets by Eliminating Nonpayments (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (32 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Pinto, Brian Give Growth and Macroeconomic Stability in Russia a Chance
    Keywords: Arrears ; Banks and Banking Reform ; Budget ; Budgets ; Corporate Governance ; Credibility ; Debt Markets ; Devaluation ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Foreign Direct Investment ; Government Spending ; Inflation ; Investment ; Investment Climate ; Macroeconomic Environment ; Macroeconomics and Economic Growth ; Nonpayment ; Nonpayments ; Oil Prices ; Private Sector Development ; Promissory Notes ; Public Debt ; Public Sector Economics and Finance ; Settlement ; Soft Budget Constraints ; Tax ; Taxation and Subsidies ; Arrears ; Banks and Banking Reform ; Budget ; Budgets ; Corporate Governance ; Credibility ; Debt Markets ; Devaluation ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Foreign Direct Investment ; Government Spending ; Inflation ; Investment ; Investment Climate ; Macroeconomic Environment ; Macroeconomics and Economic Growth ; Nonpayment ; Nonpayments ; Oil Prices ; Private Sector Development ; Promissory Notes ; Public Debt ; Public Sector Economics and Finance ; Settlement ; Soft Budget Constraints ; Tax ; Taxation and Subsidies
    Abstract: April 2000 - In Russia, implicit subsidies amounting to 10 percent of GDP per year in the form of nonpayments have stifled growth, contributed to the August 1998 macroeconomic crisis through their impact on public debt, and made at best a questionable contribution to equity. Hardening budgets requires that these nonpayments - or mutual arrears and noncash settlements among the government, the energy monopolies, and manufacturing firms - be eliminated with energy bills, taxes and budgetary spending settled on time and in cash. Pinto, Drebentsov, and Morozov analyze the links between Russia's disappointing growth performance in the second half of the 1990s, its costly and unsuccessful stabilization, the macroeconomic meltdown of 1998, and the spectacular rise of nonpayments. Nonpayments flourished in an environment of fundamental inconsistency between a macroeconomic policy geared at sharp disinflation and a microeconomic policy of bailing enterprises out through soft budget constraints. Heavy untargeted implicit subsidies flowing through the nonpayments system (amounting to 10 percent of GDP annually) have stifled growth, contributed to the August 1998 meltdown through their impact on public debt, and have made at best a questionable contribution to equity. Dismantling this system must be a top priority, along with promoting enterprise restructuring and growth (by hardening budget constraints) and medium-term macroeconomic stability (by reducing the size of subsidies). Getting the government out of the nonpayments system means settling all appropriately controlled budgetary expenditures on time and in cash, and eschewing spending arrears, thereby setting an example for enterprises and laying the groundwork for eliminating tax offsets at all levels of government, and insisting on cash tax payments. To stop energy-related subsidies would require not only that the government pay its own energy bills on time and in cash, but also that the energy monopolies be empowered to disconnect nonpaying clients. This will enable the government to insist that the energy monopolies in turn pay their own taxes in full and on time. This paper - a product of the Economics Unit, World Bank Office, Moscow - was produced as part of the Economic and Sector Work Program, Poverty Reduction and Economic Management Sector Unit, Europe and Central Asia Region
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    The Middle Class Consensus and Economic Development (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (48 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Easterly, William The Middle Class Consensus and Economic Development
    Keywords: Class Polarization ; Cross-Country Data ; Cross-Country Differences ; Cross-Country Income ; Development Outcomes ; Development Successes ; Economic Development ; Economic Growth ; Emerging Markets ; Exogenous Country Characteristics ; Human Capital ; Income ; Income Differences ; Inequality ; Inequality ; Macroeconomics and Economic Growth ; Middle Class ; Middle Class Consensus ; Political Community ; Political Economy ; Political Economy ; Political Instability ; Poverty Reduction ; Private Sector Development ; Resource Endowments ; Social Conflict ; Class Polarization ; Cross-Country Data ; Cross-Country Differences ; Cross-Country Income ; Development Outcomes ; Development Successes ; Economic Development ; Economic Growth ; Emerging Markets ; Exogenous Country Characteristics ; Human Capital ; Income ; Income Differences ; Inequality ; Inequality ; Macroeconomics and Economic Growth ; Middle Class ; Middle Class Consensus ; Political Community ; Political Economy ; Political Economy ; Political Instability ; Poverty Reduction ; Private Sector Development ; Resource Endowments ; Social Conflict
    Abstract: May 2000 - A higher share of income for the middle class and lower ethnic polarization are empirically associated with higher income, higher growth, more education, better health, better infrastructure, better economic policies, less political instability, less civil war (putting ethnic minorities at risk), more social modernization, and more democracy. Modern political economy stresses society's polarization as a determinant of development outcomes. Among the most common forms of social conflict are class polarization and ethnic polarization. A middle class consensus is defined as a high share of income for the middle class and a low degree of ethnic polarization. A middle class consensus distinguishes development successes from failures. A theoretical model shows how groups- distinguished by class or ethnicity - will under-invest in human capital and infrastructure when there is leakage to another group. Easterly links the existence of a middle class consensus to exogenous country characteristics such as resource endowments, along the lines of the provocative thesis of Engerman and Sokoloff 1997 that tropical commodity exporters are more unequal than other societies. Easterly confirms this hypothesis with cross-country data. This makes it possible to use resource endowments as instruments for inequality. A higher share of income for the middle class and lower ethnic polarization are empirically associated with higher income, higher growth, more education, better health, better infrastructure, better economic policies, less political instability, less civil war (putting ethnic minorities at risk), more social modernization, and more democracy. This paper - a product of Macroeconomics and Growth, Development Research Group - is part of a larger effort in the group to study the determinants of growth. The author may be contacted at weasterlyworldbank.org
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  • 31
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    Multilateral Trade Liberalization and Political Disintegration : Implications for the Evolution of Free Trade Areas and Customs Unions (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (34 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Schiff, Maurice Multilateral Trade Liberalization and Political Disintegration
    Keywords: Andean Pact ; Bloc Welfare ; Customs Union Formation ; Customs Unions ; Economic Dominance ; Economic Theory and Research ; Emerging Markets ; External Tariff ; Free Trade ; Free Trade ; Free Trade Agreements ; Free Trade Area ; International Economics & Trade ; Law and Development ; Macroeconomics and Economic Growth ; Market Size ; Multilateral Liberalization ; Multilateral System ; Multilateral Trade Liberalization ; Open Regionalism ; Preferential Market Access ; Private Sector Development ; Public Sector Development ; Regional Integration ; Regionalism ; Rules of Origin ; Tariffs ; Trade ; Trade Diversion ; Trade Law ; Trade Policy ; Trade and Regional Integration ; Andean Pact ; Bloc Welfare ; Customs Union Formation ; Customs Unions ; Economic Dominance ; Economic Theory and Research ; Emerging Markets ; External Tariff ; Free Trade ; Free Trade ; Free Trade Agreements ; Free Trade Area ; International Economics & Trade ; Law and Development ; Macroeconomics and Economic Growth ; Market Size ; Multilateral Liberalization ; Multilateral System ; Multilateral Trade Liberalization ; Open Regionalism ; Preferential Market Access ; Private Sector Development ; Public Sector Development ; Regional Integration ; Regionalism ; Rules of Origin ; Tariffs ; Trade ; Trade Diversion ; Trade Law ; Trade Policy ; Trade and Regional Integration
    Abstract: May 2000 - Two theories are combined to explain why free trade areas (FTAs) have proliferated more than customs unions (CUs) have, and why FTAs are found more in North-South agreements and CUs in South-South agreements. Schiff combines two theories - one about how multilateral trade liberalization affects regional integration, the other about how it affects political disintegration - to explain why the ratio of free trade areas to customs unions has increased over time, and why it is larger in North-South than in South-South agreements. Ethier (1998, 1999) argues that multilateral trade liberalization led to the recent wave of regional integration arrangements. Alesina and others (1997), in discussing the number and size of countries, argue that multilateral trade liberalization leads to political disintegration, with an increase in the number of countries. Combining the two arguments, Schiff hypothesizes that as multilateral trade liberalization proceeds and the number of regional integration arrangements increases, the ratio of free trade areas to customs unions also increases. The same arguments are also used to show why that ratio is larger in North-South than in South-South agreements. The data, which show that ratio increasing in the 1990s and larger for North-South agreements, are consistent with the hypotheses. Finally, a number of voluntary and involuntary customs unions are examined where weaker members lose and conflict does or does not take place, and where free trade agreements are superior. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to study regional integration. The author may be contacted at mschiffworldbank.org
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  • 32
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    When the Bureaucrats Move out of Business : A Cost-Benefit Assessment of Labor Retrenchment in China (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (48 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Chen, Yi When the Bureaucrats Move out of Business
    Keywords: Economic Growth ; Economic Theory and Research ; Finance and Financial Sector Development ; Financial Literacy ; High Wages ; Job ; Job Creation ; Jobs ; Labor ; Labor Force ; Labor Market ; Labor Markets ; Labor Policies ; Labor Productivity ; Labor Redeployment ; Macroeconomics and Economic Growth ; Municipal Financial Management ; Open Unemployment ; Previous Results ; Private Enterprise ; Private Sector ; Private Sector Activity ; Private Sectors ; Production Function ; Public Sector Economics and Finance ; Social Protections and Labor ; State Owned Enterprise Reform ; State-Owned Enterprises ; Unemployment ; Urban Development ; Worker ; Workers ; Economic Growth ; Economic Theory and Research ; Finance and Financial Sector Development ; Financial Literacy ; High Wages ; Job ; Job Creation ; Jobs ; Labor ; Labor Force ; Labor Market ; Labor Markets ; Labor Policies ; Labor Productivity ; Labor Redeployment ; Macroeconomics and Economic Growth ; Municipal Financial Management ; Open Unemployment ; Previous Results ; Private Enterprise ; Private Sector ; Private Sector Activity ; Private Sectors ; Production Function ; Public Sector Economics and Finance ; Social Protections and Labor ; State Owned Enterprise Reform ; State-Owned Enterprises ; Unemployment ; Urban Development ; Worker ; Workers
    Abstract: May 2000 - Reformers of China's state enterprises should realize that more could be realized from capital transfer than is being gained from labor retrenchment. And more efficient capital allocation, by reducing the pressure on labor, would bring larger gains at a lower social cost. Chen and Diwan estimate the costs and benefits of labor retrenchment in state-owned industrial enterprises in China. Their results indicate the prevalence of low and stagnant labor productivity, low capital productivity, and excessively high wages in the state sector for the period reviewed (1994-97). The private sector exhibited consistently greater productivity. The authors' most striking finding: A greater gain could be realized from capital transfer than is being gained from labor retrenchment. Their simulation results for 1996 estimate that 43 percent of the workers in state enterprises and 70 percent of the capital are redundant. By itself, a transfer of labor from the public to the private sector at the current magnitude (20 percent of the labor force) would secure only 2 percent gains in output. A transfer of 10 percent of both capital and labor would achieve a greater efficiency gain than transferring the full 43 percent of redundant workers. This is partly because the private sector uses capital more efficiently than the public sector and partly because it needs capital to hire workers transferred from the public sector. Their results suggest that reform in state enterprises should concentrate more on the efficiency of capital allocation, not just on labor retrenchment. More efficient capital allocation would reduce the pressure on labor and would bring larger gains at a lower social cost. This paper - a product of the Economic Policy and Poverty Reduction Division, World Bank Institute - is part of a larger effort in the institute to study the architecture of reform. The authors may be contacted at ychendol.eta.gov or idiwan@worldbank.org
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  • 33
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    Evaluating Carbon Offsets from Forestry and Energy Projects : How Do They Compare? (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (34 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Chomitz, Kenneth Evaluating Carbon Offsets from Forestry and Energy Projects
    Keywords: Carbon ; Carbon Emissions ; Carbon Policy and Trading ; Clean Development Mechanism ; Climate Change ; Coal ; Developed Countries ; Economies ; Emissions ; Emissions Abatement ; Emissions Reduction ; Energy ; Energy Production and Transportation ; Energy and Environment ; Environment ; Environment and Energy Efficiency ; Environmental ; Environmental Economics and Policies ; Forestry ; Insurance ; Investment ; Joint Implementation ; Land ; Land Use ; Public Sector Development ; Risk ; Sustainable Development ; Taxes ; Technology ; Carbon ; Carbon Emissions ; Carbon Policy and Trading ; Clean Development Mechanism ; Climate Change ; Coal ; Developed Countries ; Economies ; Emissions ; Emissions Abatement ; Emissions Reduction ; Energy ; Energy Production and Transportation ; Energy and Environment ; Environment ; Environment and Energy Efficiency ; Environmental ; Environmental Economics and Policies ; Forestry ; Insurance ; Investment ; Joint Implementation ; Land ; Land Use ; Public Sector Development ; Risk ; Sustainable Development ; Taxes ; Technology
    Abstract: June 2000 - Under the Clean Development Mechanism, developing countries will be able to produce certified emissions reductions (CERs, sometimes called offsets) through projects that reduce greenhouse gas emissions below business-as-usual levels. The challenges of setting up offset markets are considerable. Do forestry projects, as a class, have more difficulty than energy projects reducing greenhouse gas emissions in ways that are real, measurable, additional, and consistent with sustainable development? Under the Kyoto Protocol, industrial countries accept caps on their emissions of greenhouse gases. They are permitted to acquire offsetting emissions reductions from developing countries - which do not have emissions limitations - to assist in complying with these caps. Because these emissions reductions are defined against a hypothetical baseline, practical issues arise in ensuring that the reductions are genuine. Forestry-related emissions reduction projects are often thought to present greater difficulties in measurement and implementation than energy-related emissions reduction projects. Chomitz discusses how project characteristics affect the process for determining compliance with each of the criteria for qualifying. Those criteria are: · Additionality. Would the emissions reductions not have taken place without the project? · Baseline and systems boundaries (leakage). What would business-as-usual emissions have been without the project? And in this comparison, how broad should spatial and temporal system boundaries be? · Measurement (or sequestration). How accurately can we measure actual with-project emissions levels? · Duration or permanence. Will the project have an enduring mitigating effect? · Local impact. Will the project benefit its neighbors? For all the criteria except permanence, it is difficult to find generic distinctions between land use change and forestry and energy projects, since both categories comprise diverse project types. The important distinctions among projects have to do with such things as: · The level and distribution of the project's direct financial benefits. · How much the project is integrated with the larger system. · The project components' internal homogeneity and geographic dispersion. · The local replicability of project technologies. Permanence is an issue specific to land use change and forestry projects. Chomitz describes various approaches to ensure permanence or adjust credits for duration: the ton-year approach (focusing on the benefits from deferring climatic damage, and rewarding longer deferral); the combination approach (bundling current land use change and forestry emissions reductions with future reductions in the buyer's allowed amount); a technology-acceleration approach; and an insurance approach. This paper - a product of Infrastructure and Environment, Development Research Group - is part of a larger effort in the group to assess policies for mitigating climate change. The author may be contacted at kchomitzworldbank.org
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  • 34
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    A Transitory Regime Water Supply in Conakry, Guinea (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (58 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Clarke, George A Transitory Regime Water Supply in Conakry, Guinea
    Keywords: Banks and Banking Reform ; Cost Of Water ; Debt Markets ; Drinking Water ; Finance and Financial Sector Development ; Financial Literacy ; Households ; Industry ; Mortality Rate ; Pipeline ; Pit Latrines ; Population Growth ; Price Of Water ; Private Operator ; Private Participation ; Public Sector Corruption and Anticorruption Measures ; Raw Water ; Town Water Supply and Sanitation ; Urban Areas ; Urban Water ; Urban Water Supply and Sanitation ; Water ; Water Conservation ; Water Resources ; Water Resources ; Water Sector ; Water Supply ; Water Supply and Sanitation ; Water Supply and Sanitation Governance and Institutions ; Water System ; Water Systems ; Water Use ; Water and Industry ; Wells ; Banks and Banking Reform ; Cost Of Water ; Debt Markets ; Drinking Water ; Finance and Financial Sector Development ; Financial Literacy ; Households ; Industry ; Mortality Rate ; Pipeline ; Pit Latrines ; Population Growth ; Price Of Water ; Private Operator ; Private Participation ; Public Sector Corruption and Anticorruption Measures ; Raw Water ; Town Water Supply and Sanitation ; Urban Areas ; Urban Water ; Urban Water Supply and Sanitation ; Water ; Water Conservation ; Water Resources ; Water Resources ; Water Sector ; Water Supply ; Water Supply and Sanitation ; Water Supply and Sanitation Governance and Institutions ; Water System ; Water Systems ; Water Use ; Water and Industry ; Wells
    Abstract: June 2000 - In several ways, the reform introduced to the water sector in Conakry, Guinea, in 1989 under a World Bank-led project was remarkable. It showed that even in a weak institutional environment, where contracts are hard to enforce and political interference is common, private sector participation can improve sector performance. Why did the sector improve as much as it did, and what has inhibited reform? Both consumers and the government benefited from reform of the water system in Conakry, Guinea, whose deterioration since independence had become critical by the mid-1980s. Less than 40 percent of Conakry's population had access to piped water - low even by regional standards - and service was intermittent, at best, for the few who had connections. The public agency in charge of the sector was inefficient, overstaffed, and virtually insolvent. In several ways, the reform introduced to the sector in 1989 under a World Bank-led project was remarkable. It showed that even in a weak institutional environment, where contracts are hard to enforce and political interference is common, private sector participation can improve sector performance. Ménard and Clarke discuss the mechanisms that made progress possible and identify factors that inhibit the positive effects of reform. Water has become very expensive, the number of connections has increased very slowly, and conflicts have developed between SEEG (the private operator) and SONEG (the state agency). Among the underlying problems: · The lack of strong, stable institutions. · The lack of an independent agency capable of restraining arbitrary government action, regulating the private operator, and enforcing contractual arrangements. · The lack of adequate conflict resolution mechanisms for contract disputes. · Weak administrative capacity. This paper - a joint product of Public Economics and Regulation and Competition Policy, Development Research Group - is part of a larger effort in the group to promote competition and private sector development. The study was funded by the Bank's Research Support Budget under the research project Institutions, Politics, and Contracts: Private Sector Participation in Urban Water Supply (RPO 681-87). The authors may be contacted at menarduniv-paris1.fr or gclarke@worldbank.org
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  • 35
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    Fiscal Constraints, Collection Costs, and Trade Policies (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (38 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Kubota, Keiko Fiscal Constraints, Collection Costs, and Trade Policies
    Keywords: Debt Markets ; Developing Countries ; Economic Theory and Research ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Fiscal Adjustment ; Fiscal Constraints ; Government Revenues ; Interest ; International Economics & Trade ; Law and Development ; Macroeconomic Crises ; Macroeconomic Stabilization ; Macroeconomics and Economic Growth ; Political Economy ; Price Stability ; Private Sector Development ; Public Finance ; Public Sector Development ; Return ; Revenue ; Revenues ; Tariff ; Tariffs ; Tax ; Tax Law ; Tax Rate ; Taxation and Subsidies ; Taxes ; Trade Liberalization ; Trade Policy ; Trade Sector ; Debt Markets ; Developing Countries ; Economic Theory and Research ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Fiscal Adjustment ; Fiscal Constraints ; Government Revenues ; Interest ; International Economics & Trade ; Law and Development ; Macroeconomic Crises ; Macroeconomic Stabilization ; Macroeconomics and Economic Growth ; Political Economy ; Price Stability ; Private Sector Development ; Public Finance ; Public Sector Development ; Return ; Revenue ; Revenues ; Tariff ; Tariffs ; Tax ; Tax Law ; Tax Rate ; Taxation and Subsidies ; Taxes ; Trade Liberalization ; Trade Policy ; Trade Sector
    Abstract: June 2000 - Empirical evidence supports the hypothesis that when tariffs and export taxes are important sources of revenue for developing countries, and when those countries have narrow tax bases and high tax rates, trade liberalization will come about when the governments diversify their revenue sources through efficiency-enhancing, revenue-increasing tax reform. That free trade allows economies in an ideal world to achieve the greatest possible welfare is one of the few undisputed propositions in economics. In reality, however, free trade is rare. Kubota argues that many developing countries intervene in trade at least partly to raise revenues and that episodes of trade liberalization are often linked to tax reform. She proposes a formal model to explain why developing countries rely disproportionately on tariffs for government revenues, when tax reforms are expected, and under what conditions trade liberalization will take place. The model uses the simple concept of the fixed costs involved in tax collection. When fiscal needs are limited and the infrastructure to monitor, administer, and collect taxes is not well-developed, it is optimal for governments to rely on a handful of easy-to-collect taxes, which generally includes trade taxes. When fiscal needs expand, the excess burden on the tax base grows rapidly, and tax reform becomes necessary. Tax reforms reduce reliance on the existing tax base, often allowing the statutory tax rate to be lowered. This is a form of trade liberalization when it involves the trade sector. Kubota defines trade liberalization in a somewhat unconventional way: only reductions in the rates at which the trade sector is taxed are considered trade liberalization. Tariffication of quotas, normally considered a form of trade liberalization, is treated as tax reform (expanding the tax base). Kubota tests this hypothesis empirically, first through three historic case studies (Bolivia, Jamaica, and Morocco) and then through systematic econometric analysis. She constructs a set of panel data for 38 developing countries for 1980-92, using the statutory tariff rates published by UNCTAD. She uses empirical tests to isolate the cause of trade liberalization. The results support her hypothesis: tariff rates are positively related to fiscal shocks and negatively associated with episodes of tax reform. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to investigate the role of trade taxes in government revenues in developing countries. The author may be contacted at kkubotaworldbank.org
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  • 36
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    A New Model for Market-Based Regulation of Subnational Borrowing : The Mexican Approach (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (30 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Giugale, Marcelo A New Model for Market-Based Regulation of Subnational Borrowing
    Keywords: Bank ; Banks ; Banks and Banking Reform ; Borrowing ; Capital ; Commercial Banks ; Cred Debt ; Debt Markets ; Decentralization ; Deposits ; Economic Theory and Research ; Emerging Markets ; Externalities ; Finance and Financial Sector Development ; Financial Intermediation ; Financial Literacy ; Financial Performance ; Governments ; Institutional Development ; Interest ; Interest Rates ; Lending ; Loans ; Macroeconomic Stability ; Macroeconomics and Economic Growth ; Moral Hazard ; Private Sector Development ; Risk ; Bank ; Banks ; Banks and Banking Reform ; Borrowing ; Capital ; Commercial Banks ; Cred Debt ; Debt Markets ; Decentralization ; Deposits ; Economic Theory and Research ; Emerging Markets ; Externalities ; Finance and Financial Sector Development ; Financial Intermediation ; Financial Literacy ; Financial Performance ; Governments ; Institutional Development ; Interest ; Interest Rates ; Lending ; Loans ; Macroeconomic Stability ; Macroeconomics and Economic Growth ; Moral Hazard ; Private Sector Development ; Risk
    Abstract: July 2000 - To bring fiscal discipline to state and municipal governments, Mexico's federal government has established a two-pillar framework that explicitly renounces federal bail-outs and establishes a Basel-consistent link between the capital-risk weighting of bank loans to subnational governments and the borrower's credit rating. Whether the framework succeeds will depend partly on market assessments of the government's commitment to enforce bank capital rules and refrain from bailing out defaulting subnational governments. Faced with weak subnational finances that pose a risk to macroeconomic stability, Mexico's federal government in April 2000 established an innovative incentive framework to bring fiscal discipline to state and municipal governments. That framework is based on two pillars: an explicit renunciation of federal bail-outs and a Basel-consistent link between the capital-risk weighting of bank loans to subnational governments and the borrower's credit rating. In theory, this new regulatory arrangement should reduce moral hazard among banks and their state and municipal clients; differentiate interest rates on the basis of the borrowers' creditworthiness; and elicit a strong demand for institutional development at the subnational level. But its success will depend on three factors critical to implementation: · Whether markets find the federal commitment not to bail out defaulting subnational governments credible. · Whether subnational governments have access to financing other than bank loans. · How well bank capital rules are enforced. This paper - a product of the Mexico- Country Department and Poverty Reduction and Economic Management Sector Unit, Latin America and the Caribbean Region - is part of a larger effort in the region to understand the subnational underpinnings of sustainable, national economic framework. The authors may be contacted at mgiugaleworldbank.org, akorobow@worldbank.org, or swebb@worldbank.org
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  • 37
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    Should Credit Be Given for Autonomous Liberalization in Multilateral Trade Negotiations? (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (38 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Mattoo, Aaditya Should Credit Be Given for Autonomous Liberalization in Multilateral Trade Negotiations?
    Keywords: Currencies and Exchange Rates ; Currency ; Debt Markets ; Dispute Settlement ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Free Trade ; Insurance and Risk Mitigation ; International Economics & Trade ; International Trade and Trade Rules ; Macroeconomics and Economic Growth ; Multilateral Liberalization ; Multilateral Negotiations ; Private Sector Development ; Public Sector Development ; Reciprocal Concessions ; Tariff ; Tariff Reductions ; Tariff Schedule ; Tariffs ; Terms Of Trade ; Terms Of Trade Loss ; Trade ; Trade Liberalization ; Trade Negotiations ; Trade Policy ; Trade Policy ; Unilateral Liberalization ; Unilateral Reduction ; Unilateral Tariff Reduction ; World Trade ; World Trade Organization ; Currencies and Exchange Rates ; Currency ; Debt Markets ; Dispute Settlement ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Free Trade ; Insurance and Risk Mitigation ; International Economics & Trade ; International Trade and Trade Rules ; Macroeconomics and Economic Growth ; Multilateral Liberalization ; Multilateral Negotiations ; Private Sector Development ; Public Sector Development ; Reciprocal Concessions ; Tariff ; Tariff Reductions ; Tariff Schedule ; Tariffs ; Terms Of Trade ; Terms Of Trade Loss ; Trade ; Trade Liberalization ; Trade Negotiations ; Trade Policy ; Trade Policy ; Unilateral Liberalization ; Unilateral Reduction ; Unilateral Tariff Reduction ; World Trade ; World Trade Organization
    Abstract: June 2000 - As each new round of multilateral trade negotiations approaches, there is a demand for a negotiating rule that would give credit for previous unilateral liberalization. The feasibility and desirability of such a rule depend on when it is instituted. As each new round of multilateral trade negotiations approaches, there is a demand for a negotiating rule that would give credit for autonomous (unilateral) liberalization. Mattoo and Olarreaga show that the feasibility and desirability of such a rule depend on when it is instituted. A credit rule established at the beginning of a round of negotiations has a primarily distributional effect, favoring those who have already undertaken liberalization. Implementing such a rule would depend on the generosity of those who have not liberalized. The authors propose instead establishing a credit rule at the end of a round of negotiations, which creates an ex ante assurance that any unilateral liberalization will receive credit in the next round. Such a rule would help induce or enhance liberalization in some countries between negotiating rounds by reducing the gains from retaining protection as negotiating currency. More strikingly, it could also lead to deeper levels of multilateral liberalization and induce other countries to go further than they would in the absence of a rule. Most important, such an ex ante rule would not rely on altruism to be generally acceptable. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to improve trade policy in goods and services. The authors may be contacted at amattooworldbank.org or molarreaga@worldbank.org
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    Can the World Cut Poverty in Half? : How Policy Reform and Effective Aid Can Meet International Development Goals (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (56 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Dollar, David Can the World Cut Poverty in Half?
    Keywords: Developing Countries ; Development Assistance ; Development Goals ; Economic Policies ; Global Poverty ; Health, Nutrition and Population ; Incidence Of Poverty ; Large Populations ; Low-Income Countries ; Policies ; Policy ; Policy Change ; Population ; Population Growth ; Population Policies ; Poverty ; Poverty Reduction ; Poverty Reduction ; Pro-Poor Growth ; Purchasing Power ; Purchasing Power Parity ; Respect ; Rural Development ; Rural Poverty Reduction ; Services and Transfers to Poor ; Significant Policy ; Workshops ; Developing Countries ; Development Assistance ; Development Goals ; Economic Policies ; Global Poverty ; Health, Nutrition and Population ; Incidence Of Poverty ; Large Populations ; Low-Income Countries ; Policies ; Policy ; Policy Change ; Population ; Population Growth ; Population Policies ; Poverty ; Poverty Reduction ; Poverty Reduction ; Pro-Poor Growth ; Purchasing Power ; Purchasing Power Parity ; Respect ; Rural Development ; Rural Poverty Reduction ; Services and Transfers to Poor ; Significant Policy ; Workshops
    Abstract: July 2000 - Poverty in the developing world will decline by roughly half by 2015 if current growth trends and policies persist. But a disproportionate share of poverty reduction will occur in East and South Asia, poverty will decline only slightly in Sub-Saharan Africa, and it will increase in Eastern Europe and Central Asia. What can be done to change this picture? More effective development aid could greatly improve poverty reduction in the areas where poverty reduction is expected to lag: Sub-Saharan Africa, Eastern Europe, and Central Asia. Even more potent would be significant policy reform in the countries themselves. Collier and Dollar develop a model of efficient aid in which the total volume of aid is endogenous. In particular, aid flows respond to policy improvements that create a better environment for poverty reduction and effective use of aid. They use the model to investigate scenarios-of policy reform, of more efficient aid, and of greater volumes of aid-that point the way to how the world could cut poverty in half in every major region. The fact that aid increases the benefits of reform suggests that a high level of aid to strong reformers may increase the likelihood of sustained good policy (an idea ratified in several recent case studies of low-income reformers). Collier and Dollar find that the world is not operating on the efficiency frontier. With the same level of concern, much more poverty reduction could be achieved by allocating aid on the basis of how poor countries are as well as on the basis of the quality of their policies. Global poverty reduction requires a partnership in which third world countries and governments improve economic policy while first world citizens and governments show concern about poverty and translate that concern into effective assistance. This paper-a product of the Development Research Group-is part of a larger effort in the group to study aid effectiveness. The authors may be contacted at pcollierworldbank.org or ddollar@worldbank.org
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    How Mexico's Financial Crisis Affected Income Distribution (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (38 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Salinas, Angel How Mexico's Financial Crisis Affected Income Distribution
    Keywords: Bank ; Calculations ; Contribution ; Current Account ; Current Income ; Earnings ; Economic Theory and Research ; Education ; Emerging Markets ; Equity ; Finance and Financial Sector Development ; Financial Crisis ; Financial Literacy ; Household Income ; Income ; Income ; Income Groups ; Income Sources ; Inequality ; Information ; Investment ; Labor Markets ; Labor Policies ; Low-Income ; Macroeconomics and Economic Growth ; Population ; Poverty Impact Evaluation ; Poverty Reduction ; Private Sector Development ; Rural Development ; Rural Poverty Reduction ; Salaries ; Services and Transfers to Poor ; Severe Financial Crisis ; Social Protections and Labor ; Wages ; Bank ; Calculations ; Contribution ; Current Account ; Current Income ; Earnings ; Economic Theory and Research ; Education ; Emerging Markets ; Equity ; Finance and Financial Sector Development ; Financial Crisis ; Financial Literacy ; Household Income ; Income ; Income ; Income Groups ; Income Sources ; Inequality ; Information ; Investment ; Labor Markets ; Labor Policies ; Low-Income ; Macroeconomics and Economic Growth ; Population ; Poverty Impact Evaluation ; Poverty Reduction ; Private Sector Development ; Rural Development ; Rural Poverty Reduction ; Salaries ; Services and Transfers to Poor ; Severe Financial Crisis ; Social Protections and Labor ; Wages
    Abstract: July 2000 - After Mexico's financial crisis in 1994, the distribution of income and labor earnings improved. But financial income and rising labor earnings in higher-income brackets are growing sources of inequality in Mexico. After Mexico's financial crisis in 1994, the distribution of income and labor earnings improved. Did inequality increase during the recession, as one would expect, since the rich have more ways to protect their assets than the poor do? After all, labor is poor people's only asset (the labor-hoarding hypothesis). In principle, one could argue that the richest deciles experienced severe capital losses because of the crisis in 1994-96, and were hurt proportionately more than the poor were. But the facts don't support this hypothesis. As a share of total income, both monetary income (other than wages and salaries) and financial income increased during that period, especially in urban areas. Financial income is a growing source of inequality in Mexico. Mexico's economy had a strong performance in 1997. The aggregate growth rate was about 7 percent, real investment grew 24 percent and exports 17 percent, industrial production increased 9.7 percent, and growth in civil construction (which makes intensive use of less skilled labor) was close to 11 percent. Given those figures, it is not surprising that the distribution of income and labor earnings improved, but the magnitude and quickness of the recovery prompted a close inspection of the mechanisms responsible for it. Lopez-Acevedo and Salinas analyze the decline in income inequality after the crisis, examine income sources that affect the level of inequality, and investigate the forces that drive inequality in Mexico. They find that in 1997 the crisis had hurt the income share of the top decile of the population mainly by reducing its share of labor earnings. Especially affected were highly skilled workers in financial services and nontradables. Results from 1998 suggest that the labor earnings of those workers recovered and in fact increased. Indeed, labor earnings are a growing source of income inequality. This paper-a product of the Economic Policy Sector Unit and Mexico Country Office, Latin America and the Caribbean Region-is part of the Bank's study of earnings inequality after Mexico's economic and educational reforms. The authors may be contacted at gacevedoworldbank.org or asalinas@worldbank.org
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    School Choice, Student Performance, and Teacher and School Characteristics : The Chilean Case (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (44 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Vegas, Emiliana School Choice, Student Performance, and Teacher and School Characteristics
    Keywords: Degrees ; Education ; Education for All ; High School Grade Average ; Learning ; Ministry of Education ; Papers ; Private Schools ; Research ; Researchers ; School ; Schools ; Secondary Education ; Student ; Student Achievement ; Tertiary Education ; Degrees ; Education ; Education for All ; High School Grade Average ; Learning ; Ministry of Education ; Papers ; Private Schools ; Research ; Researchers ; School ; Schools ; Secondary Education ; Student ; Student Achievement ; Tertiary Education
    Abstract: Vegas explores how schools change in response to increased competition generated by voucher programs in Chile. A unique data set provides information on teacher demographics and labor market characteristics, as well as teachers' perceptions of school management. When teacher data are marched with school-level data on student achievement using a national assessment data set (SIMCE), some teacher and school characteristics affect student performance, but a great deal of unexplained variance among sectors remains important in predicting student outcomes. Teacher education, decentralization of decisionmaking authority, whether the school schedule is strictly enforced, and the extent to which teachers have autonomy in designing teaching plans and implementing projects all appear to affect student outcomes. Interestingly, teacher autonomy has positive effects on student outcomes only when decisionmaking authority is decentralized. This paper--a product of Public Services, Development Research Group--is part of a larger effort in the group to understand the role of incentives in education. The author may be contacted at evegasworldbank.org
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    Coalitions for Change (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Series Statement: World Bank E-Library Archive
    Abstract: World Bank Group President, James Wolfensohn addressed the Board of Governors. In the past year the Bank launched a new initiative-the Comprehensive Development Framework (CDF). The aim was to bring the social and the structural aspects of development together with the macroeconomic and the financial so as to establish a much more balanced and effective approach. The Bank will work with the broad development community-the United Nations, the European Union, bilaterals, regional development banks, civil society, and the private sector-to build genuine partnerships. The CDF is now being piloted in 13 countries. The general experience reviewed that strengthening the organization, human capacity, and the structure of the state, both at central and local levels, is the first priority to reduce poverty. The speaker also called for a coalition for change in the new international development architecture in the face of globalization
    DOI: 10.1596/26172
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    Trends in private investment in developing countries : Statistics for 1970-97 and Perceived Obstacles to Doing Business (1999)
    Washington, D.C : The World Bank
    Details
    ISBN: 0821344757 , 9780821344750
    Language: English
    Pages: Online-Ressource (1 online resource (56 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Abstract: This is the tenth annual edition of "Trends in Private Investment in Developing Countries." To mark this event, this report includes figures for each of the countries for which data are available as well as the first country-specific results of a worldwide survey on obstacles to doing business perceived by executives in 74 countries (including several industrial countries for comparison). The first part of this report documents trends in private and public fixed investment. The second part presents country-specific results of a 1996/97 worldwide survey of business executives. The discussion focus on obstacles to doing business and their relationship to levels of private investment. A few factors emerge as being of particular importance to private investment decisions:the real exchange rate, the rule of law, predictability of judiciary systems, and the extent to which financing is available to enterprises
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    Global Economic Prospects 2000 (1999)
    Washington, D.C : The World Bank
    Details
    ISBN: 0821345508 , 9780821345504
    Language: English
    Pages: Online-Ressource (1 online resource (192 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Series Statement: Global Economic Prospects
    Abstract: Developing countries are now recovering from the worst ravages of the financial crisis of 1997-98. However, the recovery is both uneven and fragile, and many countries continue to struggle in the aftermath. In addition to a review of international economic developments, this report considers three areas where the crisis has had a major impact on growth and welfare in the developing world. First, the crisis has increased poverty in the East Asian crisis countries, Brazil, and the Russian Federation, and elsewhere. Chapter 2 reviews the evidence on the crisis' social impact on East Asia and other developing countries, and addresses the broader issue of the impact of external shocks on poverty in developing countries. Second, though the East Asian crisis countries are experiencing a strong cyclical recovery, severe structural problems remain. Chapter 3 outlines the depth of the problems faced by the corporate and financial sectors of these economies, analyzes the challenges facing the restructuring process, and discusses the appropriate role of government in supporting restructuring and reducing systemic risk. Third, exchange rate depreciations and declines in demand in East Asia exacerbated the fall in primary commodity prices that began in 1996. Chapter 4 examines how the most commodity-dependent economies in the world--the major oil exporting countries and the non-oil exporters of Sub-Saharan Africa--have adjusted to the commodity price cycle
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    Solid waste landfills in middle and lower-income countries : a technical guide to planning, design, and operation (1999)
    Washington, D.C : The World Bank
    Details
    ISBN: 0821344579 , 9780821344576
    Language: English
    Pages: Online-Ressource (1 online resource (267 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Series Statement: World Bank Technical Papers
    Abstract: This technical guide seeks to demonstrate that, by encouraging small, continuous improvements in landfill siting, construction, and operation, the accumulative effect over time is the achievement of better operations. The guide does not seek an immediate adoption of sanitary landfill practices. Instead, sanitary landfill is regarded as an eventual goal for which middle- and lower-income countries can plan during the course of several years. A common theme throughout the guide is the emphasis on the practical ways landfills can evolve, as resources and confidence increase, from open dumps to "controlled" dumps to "engineered" landfills and perhaps, one day, to sanitary landfills
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    Aid Allocation and Poverty Reduction (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (46 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Dollar, David Aid Allocation and Poverty Reduction
    Keywords: Development Efforts ; Domestic Poverty ; Economic Growth ; Elimination Of Poverty ; Emergencies ; Health, Nutrition and Population ; Level Of Poverty ; Living Standards ; National Policy ; Policies ; Policy Level ; Poor People ; Population Policies ; Poverty ; Poverty Reduction ; Poverty Reduction ; Pro-Poor Growth ; Quantitative Measures ; Recipient Countries ; Respect ; Rule Of Law ; Rural Development ; Rural Poverty Reduction ; Sectoral Policies ; Services and Transfers to Poor ; Sustainable Growth ; War ; Development Efforts ; Domestic Poverty ; Economic Growth ; Elimination Of Poverty ; Emergencies ; Health, Nutrition and Population ; Level Of Poverty ; Living Standards ; National Policy ; Policies ; Policy Level ; Poor People ; Population Policies ; Poverty ; Poverty Reduction ; Poverty Reduction ; Pro-Poor Growth ; Quantitative Measures ; Recipient Countries ; Respect ; Rule Of Law ; Rural Development ; Rural Poverty Reduction ; Sectoral Policies ; Services and Transfers to Poor ; Sustainable Growth ; War
    Abstract: In the efficient allocation of aid, aid is targeted disproportionately to countries with severe poverty and adequate policies. For a given level of poverty, aid tapers in with policy reform. In the actual allocation of aid, aid tapers out with reform. - Aid now lifts about 30 million people a year out of absolute poverty. With a poverty-efficient allocation, the same amount of aid would lift about 80 million people out of poverty. Collier and Dollar derive a poverty-efficient allocation of aid and compare it with actual aid allocations. They build the poverty-efficient allocation in two stages. First they use new World Bank ratings of 20 different aspects of national policy to establish the current relationship between aid, policies, and growth. Onto that, they add a mapping from growth to poverty reduction, which reflects the level and distribution of income. They compare the effects of using headcount and poverty-gap measures of poverty. They find the actual allocation of aid to be radically different from the poverty-efficient allocation. In the efficient allocation, for a given level of poverty, aid tapers in with policy reform. In the actual allocation, aid tapers out with reform. In the efficient allocation, aid is targeted disproportionately to countries with severe poverty and adequate policies - the type of country where 74 percent of the world's poor live. In the actual allocation, such countries receive a much smaller share of aid (56 percent) than their share of the world's poor. With the present allocation, aid is effective in sustainably lifting about 30 million people a year out of absolute poverty. With a poverty-efficient allocation, this would increase to about 80 million people. Even with political constraints introduced to keep allocations for India and China constant, poverty reduction would increase to about 60 million. Reallocating aid is politically difficult, but it may be considerably less difficult than quadrupling aid budgets, which is what the authors estimate would be necessary to achieve the same impact on poverty reduction with existing aid allocations. This paper - a joint product of the Office of the Director, and Macroeconomics and Growth, Development Research Group - is part of a larger effort in the group to examine aid effectiveness. The authors may be contacted at pcollierworldbank.org or ddollar@worldbank.org
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    Determinants of Motorization and Road Provision (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (34 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Ingram, K. Gregory Determinants of Motorization and Road Provision
    Keywords: Air ; Air Pollution ; Auto Dependence ; Buses ; Cars ; Congestion ; Externalities ; Motor Vehicle ; Motor Vehicle Use ; Motor Vehicles ; Road ; Road Network ; Road Provision ; Roads ; Trans Transit Use ; Transport ; Transport ; Transport Economics, Policy and Planning ; Trucks ; Urban Transport ; Vehicle Ownership ; Air ; Air Pollution ; Auto Dependence ; Buses ; Cars ; Congestion ; Externalities ; Motor Vehicle ; Motor Vehicle Use ; Motor Vehicles ; Road ; Road Network ; Road Provision ; Roads ; Trans Transit Use ; Transport ; Transport ; Transport Economics, Policy and Planning ; Trucks ; Urban Transport ; Vehicle Ownership
    Abstract: January 1999 - National and urban motor vehicle ownership increases at about the same rate as income, whereas road length increases with income mainly at the national level. So, urban congestion grows with income. Controlling vehicle fleet growth and use would require high taxes that increase faster than income - or there could be congestion tolls. Ingram and Liu survey past trends in vehicle ownership and road network expansion to analyze determinants of their growth at the national and urban level. Surprisingly, they find that: ° Nationally, income is a major determinant of both vehicle ownership and road length. ° Nationally, paved road length and vehicle ownership has been increasing about as fast as income, while total road length is increasing less rapidly than income. ° In urban areas vehicle ownership increases as fast as income while road length increases very slowly with income. Because national paved road networks are expanding about as fast as national motor vehicle fleets, national congestion is unlikely to be worsening. But because urban road length is growing much more slowly than the number of urban motor vehicles, urban congestion is rising with income over time. Increased urban congestion is stimulating decentralized urban growth. Income elasticities are greater than price elasticities in absolute terms, for both vehicle ownership and use - an important finding because prices are often used as an instrument to control motor vehicle ownership and use. If price elasticities are half as large as income elasticities, prices would have to grow twice as fast as incomes to stabilize vehicle ownership. Breaking the link between income growth, rising congestion, and urban decentralization will be difficult: Restraining auto ownership in urban areas requires high tax rates, and increasing the supply of urban roads is costly. Elasticity estimates vary, but a good point estimate for the income elasticity of fleet growth is 1. This means country motor vehicle fleets grow in proportion to country incomes. More than half the world's annual increase in motor vehicles is likely to occur in high-income countries until 2025 (assuming GNP growth of 3 percent in high-income countries, 5 percent in low- and middle-income countries). The motor vehicle fleet in low- and middle-income countries is not projected to exceed that in high-income countries until after 2050. Carbon dioxide emissions are likely to be distributed similarly. This paper-a joint product of the Research Advisory Staff and the Transport Division, Transport, Water, and Urban Development Department-is part of a research project on motorization and roads. The authors may be contacted at gingramworldbank.org or zliu@worldbank.org
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    Do Depositors Punish Banks for Bad Behavior? : Market Discipline in Argentina, Chile, and Mexico (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (57 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Peria, Maria Do Depositors Punish Banks for Bad Behavior?
    Keywords: Bank ; Bank Deposits ; Bank Risk ; Banking ; Banking Crises ; Banking Sector ; Banks ; Banks and Banking Reform ; Debt Markets ; Deposit Insurance ; Deposit Insurance Schemes ; Deposits ; Finance and Financial Sector Development ; Financial Intermediation ; Financial Literacy ; Guarantees ; Industry ; Interest ; Interest Rates ; Loans ; Market Discipline ; Monetary Policies ; Moral Hazard ; Prudential Regulations ; Savings ; Bank ; Bank Deposits ; Bank Risk ; Banking ; Banking Crises ; Banking Sector ; Banks ; Banks and Banking Reform ; Debt Markets ; Deposit Insurance ; Deposit Insurance Schemes ; Deposits ; Finance and Financial Sector Development ; Financial Intermediation ; Financial Literacy ; Guarantees ; Industry ; Interest ; Interest Rates ; Loans ; Market Discipline ; Monetary Policies ; Moral Hazard ; Prudential Regulations ; Savings
    Abstract: February 1999 - A study of the banking industries of Argentina, Chile, and Mexico in the 1980s and 1990s finds that across countries and across deposit insurance schemes, market discipline exists even among small insured depositors - who punish risky banks by withdrawing their deposits. Bank fundamentals are at least as important as other factors affecting deposit behavior. Peria and Schmukler examine the banking industries of Argentina, Chile, and Mexico to see if market discipline existed there in the 1980s and 1990s. Using a set of bank panel data, they test for the presence of market discipline by studying whether depositors punish risky banks by withdrawing their deposits. They find that across countries and across deposit insurance schemes, market discipline exists even among small insured depositors-who punish risky banks by withdrawing their deposits. Standardized coefficients and variance decomposition of deposits indicate that bank fundamentals are at least as important as other factors affecting deposits. GMM estimates confirm that the results are robust to the potential endo-geneity of bank fundamentals. This paper-a joint product of Finance, Development Research Group and the Office of the Chief Economist, Latin America and Carribean Region-is part of a larger effort in the Bank to study banking issues affecting developing countries. The study was funded by the LAC Regional Studies Program and by the Bank's Research Support Budget under research project Deposit Insurance Design and Use (RPO 682-90). The authors may be contacted at mmartinezperiaworldbank.org or sschmukler@worldbank.org
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    Reconsidering the Evidence on Returns to T&V Extension in Kenya (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (21 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Gautam, Madhur Reconsidering the Evidence on Returns to T&V Extension in Kenya
    Keywords: Agencies ; Agricultural ; Agricultural Extension ; Agricultural Production ; Agriculture ; Agriculture ; Banks and Banking Reform ; Crops ; Crops and Crop Management Systems ; E-Business ; Econometrics ; Economic Theory and Research ; Education ; Education ; Extension ; Extension Services ; Family ; Farmers ; Farms ; Information ; Investment ; Labor Policies ; Land ; Livestock ; Macroeconomics and Economic Growth ; Management ; Private Sector Development ; Research ; Rural Development ; Rural Development Knowledge and Information Systems ; Science Education ; Science and Technology Development ; Scientific Research and Science Parks ; Social Protections and Labor ; Statistical and Mathematical Sciences ; Training ; Agencies ; Agricultural ; Agricultural Extension ; Agricultural Production ; Agriculture ; Agriculture ; Banks and Banking Reform ; Crops ; Crops and Crop Management Systems ; E-Business ; Econometrics ; Economic Theory and Research ; Education ; Education ; Extension ; Extension Services ; Family ; Farmers ; Farms ; Information ; Investment ; Labor Policies ; Land ; Livestock ; Macroeconomics and Economic Growth ; Management ; Private Sector Development ; Research ; Rural Development ; Rural Development Knowledge and Information Systems ; Science Education ; Science and Technology Development ; Scientific Research and Science Parks ; Social Protections and Labor ; Statistical and Mathematical Sciences ; Training
    Abstract: April 1999 - The sensitivity of empirical results to potential data errors and model misspecification can yield misleading policy implications and investment signals. A widely disseminated study of the impact of the training and visit (T&V) system of management for extension services in Kenya is a striking example of how innocuous data errors and alternative specifications lead to strikingly different results. Gautam and Anderson revisit the widely disseminated results of a study (Bindlish and Evenson 1993, 1997) of the impact of the training and visit (T&V) system of management for public extension services in Kenya. T&V was introduced in Kenya by the World Bank and has since been supported through two successive projects. The impact of the projects continues to be the subject of much debate. Gautam and Anderson's paper suggests the need for greater vigilance in empirical analysis, especially about the quality of data used to support Bank policy and the need to validate potentially influential findings. Using household data from 1990, Bindlish and Evenson found the returns from extension to be very high. But Gautam and Anderson find that the returns estimated by Bindlish and Evenson suffer from data errors, and limitations imposed by cross-sectional data. After correcting for several data processing and measurement errors, the authors show the results to be less robust than reported by Bindlish and Evenson and highly sensitive to regional effects. When region-specific effects are included, a positive return to extension cannot be established, using Bindlish and Evenson's data set and cross-sectional model specifications. After testing the robustness of results using a number of tests, Gautam and Anderson could not definitively establish the factors underlying strong regional effects, largely because of the limitations imposed by the cross-sectional framework. Household panel data methods would have allowed greater control for regional effects and would have yielded better insight into the impact of extension. The impact on agricultural productivity in Kenya expected from T&V extension services is not discernible from the available data, and the impact may vary across districts. The hypothesis that T&V had no impact in Kenya between 1982 and 1990 cannot be rejected. The sample data fail to support a positive rate of return on the investment in T&V. This paper-a product of the Sector and Thematic Evaluation Division, Operations Evaluation Department-is part of a larger exploration by the department of the effects of the investment in agricultural extension in Kenya. The authors may be contacted at mgautamworldbank.org or janderson@worldbank.org
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    Fiscal Management in Federal Democracies : Argentina and Brazil (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (43 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Webb, B. Steven Fiscal Management in Federal Democracies
    Keywords: Bailouts ; Banks and Banking Reform ; Creditors ; Debt Markets ; Deficits ; Developing Countries ; Domestic Debt ; Emerging Markets ; External Debts ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal Decentralization ; Fiscal Deficits ; Inflation ; Interest ; Levy ; Macroeconomic Stabilization ; Monetary Fund ; Municipal Financial Management ; Private Sector Development ; Public Finances ; Public Sector Deficits ; Public Sector Economics and Finance ; Public Spending ; Public and Municipal Finance ; Return ; Revenue ; Tax ; Urban Development ; Urban Economics ; Bailouts ; Banks and Banking Reform ; Creditors ; Debt Markets ; Deficits ; Developing Countries ; Domestic Debt ; Emerging Markets ; External Debts ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal Decentralization ; Fiscal Deficits ; Inflation ; Interest ; Levy ; Macroeconomic Stabilization ; Monetary Fund ; Municipal Financial Management ; Private Sector Development ; Public Finances ; Public Sector Deficits ; Public Sector Economics and Finance ; Public Spending ; Public and Municipal Finance ; Return ; Revenue ; Tax ; Urban Development ; Urban Economics
    Abstract: May 1999 - Argentina and Brazil-two of the most decentralized public sectors in Latin America and (along with Colombia and India) among the most decentralized democracies in the developing world-faced similar problems in the 1980s: excessive public deficits and high inflation exacerbated by subnational deficits. In the 1990s, Argentina was more successful at macroeconomic stabilization, partly because it imposed harder budget constraints on the public sector nationally and partly because it had stronger party control of both national legislators and subnational governments. In shifting to decentralized public finances, a country's central government faces certain fiscal management problems. First, during and soon after the transition, unless it reduces spending or increases its own tax resources, the central government tends to have higher deficits as it shifts fiscal resources to subnational governments through transfers, revenue sharing, or delegation of tax bases. Reducing spending is hard not only because cuts are always hard but because subnational governments might not take on expected tasks, leaving the central government with a legal or political obligation to continue spending for certain services. Second, after decentralization, the local or state government faces popular pressure to spend more and tax less, creating the tendency to run deficits. This tendency can be a problem if subnational governments and their creditors expect or rely on bailouts by the central government. Econometric evidence from 32 large industrial and developing countries indicates that higher subnational spending and deficits lead to greater national deficits. Dillinger and Webb investigate how, and how successfully, Argentina and Brazil dealt with these problems in the 1990s. In both countries, subnational governments account for about half of public spending and are vigorous democracies in most (especially the largest) jurisdictions. The return to democracy in the 1980s revived and strengthened long-standing federal practices while weakening macroeconomic performance, resulting in unsustainable fiscal deficits, high inflation, sometimes hyperinflation, and low or negative growth. Occasional stabilization plans failed within a few years. Then Argentina (in 1991) and Brazil (in 1994) introduced successful stabilization plans. National issues were important in preventing and then bringing about macroeconomic stabilization, but so were intergovernmental fiscal relations and the fiscal management of subnational governments. State deficits and federal transfers were often out of control in the 1980s, contributing to national macroeconomic problems. Stabilization programs in the 1990s needed to establish control, and self-control, over subnational spending and borrowing. This paper-a product of Poverty Reduction and Economic Management, Latin America and the Caribbean Region-is part of the LCR regional studies program on fiscal decentralization in Latin America. The authors may be contacted at wdillingerworldbank.org or swebb@worldbank.org
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    Resolution of Corporate Distress : Evidence from East Asia's Financial Crisis (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (33 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Klapper, Leora Resolution of Corporate Distress
    Keywords: Bank ; Bankruptcy ; Bankruptcy Filing ; Bankruptcy Filings ; Banks and Banking Reform ; Cred Creditor ; Creditors ; Debt ; Debt Markets ; Earnings ; Economic Theory and Research ; Emerging Markets ; Expenses ; Finance and Financial Sector Development ; Financial Crisis ; Financial Distress ; Financial Institutions ; Financial Literacy ; Interest ; Loan ; Macroeconomics and Economic Growth ; Ownership ; Private Sector Development ; Probability ; Regression Analysis ; Stakeholders ; State University ; Bank ; Bankruptcy ; Bankruptcy Filing ; Bankruptcy Filings ; Banks and Banking Reform ; Cred Creditor ; Creditors ; Debt ; Debt Markets ; Earnings ; Economic Theory and Research ; Emerging Markets ; Expenses ; Finance and Financial Sector Development ; Financial Crisis ; Financial Distress ; Financial Institutions ; Financial Literacy ; Interest ; Loan ; Macroeconomics and Economic Growth ; Ownership ; Private Sector Development ; Probability ; Regression Analysis ; Stakeholders ; State University
    Abstract: June 1999 - Evidence from East Asia suggests that a firm's ownership relationship with a family or bank provides insurance against the likelihood of bankruptcy during bad times, possibly at the expense of minority shareholders. Bankruptcy is more likely in countries with strong creditor rights and a good judicial system - perhaps because creditors are more likely to force a firm to file for bankruptcy. The widespread financial crisis in East Asia caused large economic shocks, which varied by degree across the region. That crisis provides a unique opportunity for investigating the factors that determine the use of bankruptcy processes in a number of economies. Claessens, Djankov, and Klapper study the use of bankruptcy in Hong Kong, Indonesia, Japan, the Republic of Korea, Malaysia, the Philippines, Singapore, Taiwan (China), and Thailand. These economies differ in their institutional frameworks for resolving financial distress, partly because of the different origins of their judicial systems. One difference is the strength of creditor rights, which Claessens, Djankov, and Klapper document. They expect that differences in legal enforcement and judicial efficiency should affect the resolution of financial distress. Using a sample of 4,569 publicly traded East Asian firms, they observe a total of 106 bankruptcies in 1997 and 1998. They find that: · The likelihood of filing for bankruptcy is lower for firms with ownership links to banks and families, controlling for firm and country characteristics. · Filings are more likely in countries with better judicial systems. · Filings are more likely where there are both strong creditor rights and a good judicial system. These results alone do not allow Claessens, Djankov, and Klapper to address whether increased use of bankruptcy is an efficient resolution mechanism. This paper - a product of the Financial Economics Unit, Financial Sector Practice Department - is part of a larger effort in the department to study corporate financing and governance mechanisms in emerging markets
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  • 51
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    An Empirical Analysis of Competition, Privatization, and Regulation in Telecommunications Markets in Africa and Latin America (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (27 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Wallsten, Scott An Empirical Analysis of Competition, Privatization, and Regulation in Telecommunications Markets in Africa and Latin America
    Keywords: Telekommunikation ; Telekommunikationspolitik ; Privatisierung ; Deregulierung ; Afrika ; Lateinamerika ; Banks and Banking Reform ; Business ; Business Services ; Data ; E-Business ; Economic Theory and Research ; Education ; Emerging Markets ; ICT Policy and Strategies ; Information and Communication Technologies ; Infrastructure Economics and Finance ; Infrastructure Regulation ; Institutions ; Knowledge Economy ; Knowledge for Development ; Labor Policies ; Macroeconomics and Economic Growth ; Performance ; Price ; Prices ; Private Sector Development ; Public Sector Regulation ; Reliability ; Results ; Social Protections and Labor ; Technology ; Telecom ; Telecommunication ; Telecommunication Reforms ; Telecommunications ; Telephone ; Telephone Connections ; Telephone Service ; Telephones ; User ; Users ; Banks and Banking Reform ; Business ; Business Services ; Data ; E-Business ; Economic Theory and Research ; Education ; Emerging Markets ; ICT Policy and Strategies ; Information and Communication Technologies ; Infrastructure Economics and Finance ; Infrastructure Regulation ; Institutions ; Knowledge Economy ; Knowledge for Development ; Labor Policies ; Macroeconomics and Economic Growth ; Performance ; Price ; Prices ; Private Sector Development ; Public Sector Regulation ; Reliability ; Results ; Social Protections and Labor ; Technology ; Telecom ; Telecommunication ; Telecommunication Reforms ; Telecommunications ; Telephone ; Telephone Connections ; Telephone Service ; Telephones ; User ; Users
    Abstract: June 1999 - Empirical analysis of telecommunications reforms in 30 African and Latin American countries yields results largely consistent with conventional wisdom. Competition seems to be the most successful change agent, so granting even temporary monopolies may delay the arrival of better services to consumers. Reformers are correct to emphasize that regulatory reform accompany privatization, as privatization without regulation reform may be costly to consumers. Wallsten explores the effects of privatization, competition, and regulation on telecommunications performance in 30 African and Latin American countries from 1984 through 1997. Competition is associated with tangible benefits in terms of mainline penetration, number of pay phones, connection capacity, and reduced prices. Fixed-effects regressions reveal that competition-measured by mobile operators not owned by the incumbent telecommunications provider-is correlated with increases in the per capita number of mainlines, pay phones, and connection capacity, and with decreases in the price of local calls. Privatizing an incumbent is negatively correlated with mainline penetration and connection capacity. Privatization combined with regulation by an independent regulator, however, is positively correlated with connection capacity and substantially mitigates privatization's negative correlation with mainline penetration. Reformers are right to emphasize a combination of privatization, competition, and regulation. But researchers must explore the permutations of regulation: What type of regulation do countries adopt (price caps versus cost-of-service, for example)? How does the regulatory agency work? What is its annual budget? How many employees does it have? Where do the regulators come from? What sort of training and experience do they have? What enforcement powers does the regulatory agency have? In addition, researchers must deal with endogeneity of privatization, competition, and regulation to deal with issues of causality. This paper-a product of Regulation and Competition Policy, Development Research Group-is part of a larger research effort to analyze the role of competition in telecommunications with special emphasis on Africa. The author may be contacted at wallstenstanford.edu
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  • 52
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    Assessing the Impact of Micro-credit on Poverty and Vulnerability in Bangladesh (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (54 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Zaman, Hassan Assessing the Impact of Micro-credit on Poverty and Vulnerability in Bangladesh
    Keywords: Access To Cred Bank ; Banks and Banking Reform ; Borrowers ; Borrowing ; Communities & Human Settlements ; Cred Household Expenditure ; Debt Markets ; Economic Theory and Research ; Finance and Financial Sector Development ; Financial Intermediation ; Financial Literacy ; Health, Nutrition and Population ; Household Income ; Housing and Human Habitats ; Illiteracy ; Income ; Income Sources ; Investing ; Knowledge ; Loan ; Loan Period ; Loans ; Macroeconomics and Economic Growth ; Population Policies ; Poverty Reduction ; Risk Reduction ; Rural Development ; Rural Poverty Reduction ; Senior ; Student ; Supply ; Welfare ; Access To Cred Bank ; Banks and Banking Reform ; Borrowers ; Borrowing ; Communities & Human Settlements ; Cred Household Expenditure ; Debt Markets ; Economic Theory and Research ; Finance and Financial Sector Development ; Financial Intermediation ; Financial Literacy ; Health, Nutrition and Population ; Household Income ; Housing and Human Habitats ; Illiteracy ; Income ; Income Sources ; Investing ; Knowledge ; Loan ; Loan Period ; Loans ; Macroeconomics and Economic Growth ; Population Policies ; Poverty Reduction ; Risk Reduction ; Rural Development ; Rural Poverty Reduction ; Senior ; Student ; Supply ; Welfare
    Abstract: July 1999 - While micro-credit interventions can play an important role in reducing vulnerability through a number of channels, a significant impact on poverty reduction is achieved under more restrictive conditions. These conditions revolve around whether the borrower has crossed a cumulative loan threshold and on how poor the household is to start with. Zaman examines the extent to which micro-credit reduces poverty and vulnerability through a case study of BRAC, one of the largest providers of micro-credit to the poor in Bangladesh. Household consumption data collected from 1,072 households is used to show that the largest effect on poverty arises when a moderate-poor BRAC loanee borrows more that 10,000 taka (US
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  • 53
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    Income Gains to the Poor from Workfare : Estimates for Argentina's Trabajar Program (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (36 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Ravallion, Martin Income Gains to the Poor from Workfare
    Keywords: Communities & Human Settlements ; Counterfactual ; Economic Theory and Research ; Evaluation ; Experimental Design ; Experimental Methods ; Finance and Financial Sector Development ; Financial Literacy ; Health Systems Development and Reform ; Health, Nutrition and Population ; Household Income ; Housing and Human Habitats ; Impact Evaluation ; Income ; Income ; Inequality ; Intervention ; Labor Policies ; Macroeconomics and Economic Growth ; Matching Methods ; Outcomes ; Participation ; Poverty ; Poverty Impact Evaluation ; Poverty Measures ; Poverty Monitoring and Analysis ; Poverty Reduction ; Programs ; Projects ; Reflexive Comparisons ; Research ; Sampling ; Services and Transfers to Poor ; Social Protections and Labor ; Surveys ; Targeting ; Communities & Human Settlements ; Counterfactual ; Economic Theory and Research ; Evaluation ; Experimental Design ; Experimental Methods ; Finance and Financial Sector Development ; Financial Literacy ; Health Systems Development and Reform ; Health, Nutrition and Population ; Household Income ; Housing and Human Habitats ; Impact Evaluation ; Income ; Income ; Inequality ; Intervention ; Labor Policies ; Macroeconomics and Economic Growth ; Matching Methods ; Outcomes ; Participation ; Poverty ; Poverty Impact Evaluation ; Poverty Measures ; Poverty Monitoring and Analysis ; Poverty Reduction ; Programs ; Projects ; Reflexive Comparisons ; Research ; Sampling ; Services and Transfers to Poor ; Social Protections and Labor ; Surveys ; Targeting
    Abstract: July 1999 - A workfare program was introduced in response to high unemployment in Argentina. An ex-post evaluation using matching methods indicates that the program generated sizable net income gains to generally poor participants. Jalan and Ravallion use propensity-score matching methods to estimate the net income gains to families of workers participating in an Argentinian workfare program. The methods they propose are feasible for evaluating safety net interventions in settings in which many other methods are not feasible. The average gain is about half the gross wage. Even allowing for forgone income, the distribution of gains is decidedly pro-poor. More than half the beneficiaries are in the poorest decile nationally and 80 percent of them are in the poorest quintile - reflecting the self-targeting feature of the program design. Average gains for men and women are similar, but gains are higher for younger workers. Women's greater participation would not enhance average income gains, and the distribution of gains would worsen. Greater participation by the young would raise average gains but would also worsen the distribution. This paper - a product of Poverty and Human Resources, Development Research Group - is part of a larger effort in the group to improve methods for evaluating the poverty impact of Bank-supported programs. The authors may be contacted at jjalanisid.ac.in or mravallion@worldbank.org
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  • 54
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    Comparing the Performance of Public and Private Water Companies in the Asia and Pacific Region : What a Stochastic Costs Frontier Shows (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (31 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Estache, Antonio Comparing the Performance of Public and Private Water Companies in the Asia and Pacific Region
    Keywords: E-Business ; Economic Theory and Research ; Education ; Ground Water ; Industry ; Infrastructure Economics and Finance ; Infrastructure Regulation ; Knowledge for Development ; Labor Policies ; Litres Per Day ; Macroeconomics and Economic Growth ; Number Of Connections ; Operational Costs ; Operational Expenses ; Performance Indicators ; Private Operators ; Private Sector Development ; Private Water Companies ; Public Utilities ; Raw Water ; Social Protections and Labor ; Surface Sources ; Surface Water ; Town ; Town Water Supply and Sanitation ; Urban Water Supply and Sanitation ; Utilities ; Water ; Water Conservation ; Water Distribution ; Water Production ; Water Resources ; Water Sector ; Water Services ; Water Supply and Sanitation ; Water Supply and Sanitation Governance and Institutions ; Water and Industry ; Wells ; E-Business ; Economic Theory and Research ; Education ; Ground Water ; Industry ; Infrastructure Economics and Finance ; Infrastructure Regulation ; Knowledge for Development ; Labor Policies ; Litres Per Day ; Macroeconomics and Economic Growth ; Number Of Connections ; Operational Costs ; Operational Expenses ; Performance Indicators ; Private Operators ; Private Sector Development ; Private Water Companies ; Public Utilities ; Raw Water ; Social Protections and Labor ; Surface Sources ; Surface Water ; Town ; Town Water Supply and Sanitation ; Urban Water Supply and Sanitation ; Utilities ; Water ; Water Conservation ; Water Distribution ; Water Production ; Water Resources ; Water Sector ; Water Services ; Water Supply and Sanitation ; Water Supply and Sanitation Governance and Institutions ; Water and Industry ; Wells
    Abstract: July 1999 - Efficiency indicators can be useful to regulators assessing the efficiency of an operation and the wedge between tariff and minimum costs. They allow regulators to control for factors over which the operators have no control (such as diversity of water sources, or water quality or user characteristics). Estache and Rossi estimate a stochastic costs frontier for a sample of Asian and Pacific water companies, comparing the performance of public and privatized companies based on detailed firm-specific information published by the Asian Development Bank in 1997. They find private operators of water companies to be more efficient than public operators. Costs in concessioned companies tend to be significantly lower than those in public companies. Estache and Rossi compare the ranking of these companies by efficiency performance (obtained from econometric estimates) with rankings by more standard qualitative and productivity indicators typically used to assess performance. They show that rankings based on standard indicators are not always very consistent. Productivity indicators recognize simple input-output relations, such as the number of workers per client or connection. Frontiers recognize the more complex nature of interactions between inputs and outputs. Cost frontiers show the costs as a function of the level of output (or outputs) and the prices of inputs, and are generally more useful to regulators assessing the wedge between tariff and minimum costs. Production frontiers reveal technical relations between firms' inputs and outputs and provide a useful backup when cost frontiers are difficult to assess for lack of data. This paper - a product of Governance, Regulation and Finance, World Bank Institute - is part of a larger effort in the institute to increase understanding of infrastructure regulation. Antonio Estache may be contacted at aestacheworldbank.org
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  • 55
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    Social Capital and the State : Complementarity and Substitution (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (60 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Narayan, Deepa Social Capital and the State
    Keywords: Civil Society ; Civil Society Organizations ; Community ; Community Development and Empowerment ; Corruption ; Disability ; Economic Development ; Education ; Education and Society ; Finance and Financial Sector Development ; Financial Literacy ; Full Participation ; Governance ; Governance ; Governance Indicators ; Health, Nutrition and Population ; Human Development ; Income ; Indicators ; Institutions ; National Governance ; Participation ; Policy Implications ; Population Policies ; Poverty ; Service ; Service Delivery ; Social Activities ; Social Capital ; Social Cohesion ; Social Development ; Social Development ; Social Groups ; Social Inclusion and Institutions ; Social Justice ; Social Protections and Labor ; Civil Society ; Civil Society Organizations ; Community ; Community Development and Empowerment ; Corruption ; Disability ; Economic Development ; Education ; Education and Society ; Finance and Financial Sector Development ; Financial Literacy ; Full Participation ; Governance ; Governance ; Governance Indicators ; Health, Nutrition and Population ; Human Development ; Income ; Indicators ; Institutions ; National Governance ; Participation ; Policy Implications ; Population Policies ; Poverty ; Service ; Service Delivery ; Social Activities ; Social Capital ; Social Cohesion ; Social Development ; Social Development ; Social Groups ; Social Inclusion and Institutions ; Social Justice ; Social Protections and Labor
    Abstract: August 1999 - Whatever their nature, interventions to reduce poverty should be designed not only to have an immediate impact on poverty, but also to foster a rich network of cross-cutting ties within society and between society's formal and informal institutions. Using the lens of social capital - especially bridging or cross-cutting ties that cut across social groups and between social groups and government - provides new insights into policy design. Solidarity within social groups creates ties (bonding social capital) that bring people and resources together. In unequal societies, ties that cut across groups (bridging social capital) are essential for social cohesion and for poverty reduction. The nature of interaction between state and society is characterized as complementarity and substitution. When states are functional, the informal and formal work well together - for example, government support for community-based development. When states become dysfunctional, the informal institutions become a substitute and are reduced to serving a defensive or survival function. To move toward economic and social well-being, states must support inclusive development. Investments in the organizational capacity of the poor are critical. Interventions are also required to foster bridging ties across social groups - ethnic, religious, caste, or racial groups. Such interventions can stem from the state, private sector, or civil society and include: ° Changes in rules to include groups previously excluded from formal systems of finance, education, and governance, at all levels. ° Political pluralism and citizenship rights. ° Fairness before the law for all social groups. ° Availability of public spaces that bring social groups together. ° Infrastructure that eases communication. ° Education, media, and public information policies that reinforce norms and values of tolerance and diversity. This paper - a product of the Poverty Division, Poverty Reduction and Economic Management Network - is part of a larger effort in the network to understand the role of social capital. The author may be contacted at dnarayanworldbank.org
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  • 56
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    The Sri Lankan Unemployment Problem Revisited (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (52 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Rama, Martin The Sri Lankan Unemployment Problem Revisited
    Keywords: Educational Attainment ; Export Processing Zones ; Finance and Financial Sector Development ; Financial Literacy ; High Unemployment ; High Unemployment Rate ; Job ; Job Security ; Labor ; Labor Force ; Labor Market ; Labor Market Participants ; Labor Market Policies ; Labor Markets ; Labor Study ; Management ; Private Sector ; Private Sector Activities ; Public Sector Jobs ; Social Protections and Labor ; Unemployed ; Unemployment ; Unemployment Problem ; Unemployment Rates ; Educational Attainment ; Export Processing Zones ; Finance and Financial Sector Development ; Financial Literacy ; High Unemployment ; High Unemployment Rate ; Job ; Job Security ; Labor ; Labor Force ; Labor Market ; Labor Market Participants ; Labor Market Policies ; Labor Markets ; Labor Study ; Management ; Private Sector ; Private Sector Activities ; Public Sector Jobs ; Social Protections and Labor ; Unemployed ; Unemployment ; Unemployment Problem ; Unemployment Rates
    Abstract: November 1999 - Unemployment in Sri Lanka is largely voluntary. The underlying problem is not a shortage of jobs but the artificial gap between good jobs and bad ones. Policy efforts should be aimed at reducing the gap between good and bad jobs by making product markets more competitive, reducing excessive job security, and reforming government policies on pay and employment. Sri Lanka's high unemployment rate has been attributed to a mismatch of skills, to queuing for public sector jobs, and to stringent job security regulations. But the empirical evidence supporting these explanations is weak. Rama takes a fresh look at the country's unemployment problem, using individual records from the 1995 Labor Force Survey and time series for wages in the economy's formal and informal sectors. He assesses, and rejects, the skills mismatch hypothesis by comparing the impact of educational attainment on the actual wages of those who have a job with the effect on the lowest acceptable wages of the unemployed. However, he finds substantial rents associated with jobs in the public sector and in private sector activities protected by high tariffs or covered by job security regulations. A time-series analysis of the impact of unemployment on wage increases across sectors supports the hypothesis that most of the unemployed are waiting for good job openings but are not interested in readily available bad jobs. In short, unemployment in Sri Lanka is largely voluntary. The problem is not a shortage of jobs but the artificial gap between good and bad jobs. Policy efforts should be aimed at reducing the gap between good and bad jobs by making product markets more competitive, by reducing excessive job security, and by reforming government policies on pay and employment. This paper was written as part of a broader labor study undertaken by the Poverty Reduction and Economic Management Sector Unit, South Asia Region. The study was also supported by the Bank's Research Support Budget under the research project The Impact of Labor Market Policies and Institutions on Economic Performance (RPO 680-96). The author may be contacted at mramaworldbank.org
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  • 57
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    What's Behind Mercosur's Common External Tariff? (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (48 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Soloaga, Isidro What's Behind Mercosur's Common External Tariff?
    Keywords: Currencies and Exchange Rates ; Debt Markets ; Domestic Market ; Economic Policy ; Economic Theory and Research ; Emerging Markets ; External Tariff ; Finance and Financial Sector Development ; Free Trade ; International Economics & Trade ; International Market ; International Markets ; International Prices ; International Trade ; International Trade and Trade Rules ; Macroeconomics and Economic Growth ; Markets and Market Access ; Multilateral System ; Political Economy ; Private Sector Development ; Public Sector Development ; Regionalism ; Share Of World Exports ; Tariff Data ; Tariff Levels ; Tariff Structures ; Tariffs ; Terms Of Trade ; Trade ; Trade Effects ; Trade Externalities ; Trade Policy ; Trade Policy ; World Prices ; Currencies and Exchange Rates ; Debt Markets ; Domestic Market ; Economic Policy ; Economic Theory and Research ; Emerging Markets ; External Tariff ; Finance and Financial Sector Development ; Free Trade ; International Economics & Trade ; International Market ; International Markets ; International Prices ; International Trade ; International Trade and Trade Rules ; Macroeconomics and Economic Growth ; Markets and Market Access ; Multilateral System ; Political Economy ; Private Sector Development ; Public Sector Development ; Regionalism ; Share Of World Exports ; Tariff Data ; Tariff Levels ; Tariff Structures ; Tariffs ; Terms Of Trade ; Trade ; Trade Effects ; Trade Externalities ; Trade Policy ; Trade Policy ; World Prices
    Abstract: Most researchers focus on the political economy (interest group pressures) approach to analyzing why customs unions are formed, but terms-of-trade effects were also important in formation of the Common Market of the Southern Cone (Mercosur). Terms-of-trade externalities among Mercosur's members have been internalized in the common external tariff. - The theoretical literature on trade follows two different approaches to explaining the endogenous formation of customs unions: (1) The terms-of-trade approach, in which integrating partners are willing to exploit terms-of-trade effects. Using the terms-of-trade approach, one concludes that tariffs on imports from the rest of the world should increase after the formation of a regional bloc, because the market power of the region increases and terms-of-trade externalities can be internalized in the custom union's common external tariff. As the union forms, the domestic market gets larger and members' international market power increases. (2) The interest group pressures (political economy) approach, in which, for example, the customs union may offer the potential for exchanging markets or protection within the enlarged market. Using this approach, one would usually conclude that tariffs for the rest of the world decline after the custom union's formation - a rationale related to free-rider effects in larger lobbying groups. It is important to recognize the forces behind the formation of customs unions. Most researchers have focused on the second approach and neglected terms of trade as a possible explanatory variable. Both rationales explain a significant share of tariff information. Results, write Olarreaga, Soloaga, and Winters, suggest that both forces were important in formation of the Common Market of the Southern Cone (Mercosur). Terms-of-trade effects account for between 6 percent and 28 percent of the explained variation in the structure of protection. There is also evidence that the terms-of-trade externalities among Mercosur's members have been internalized in the common external tariff. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to understand the political economy of trade protection. Marcelo Olarreaga may be contacted at molarreagaworldbank.org
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  • 58
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    Valuing Water for Chinese Industries : A Marginal Productivity Assessment (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (28 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Lall, Somik Valuing Water for Chinese Industries
    Keywords: Economic Theory and Research ; Energy ; Energy Production and Transportation ; Environment ; Environmental Economics and Policies ; Groundwater ; Industrial Sector ; Industrial Use ; Industrial Water ; Industrial Water Demand ; Industrial Water Use ; Industry ; Industry ; Infrastructure Economics and Finance ; Infrastructure Regulation ; Macroeconomics and Economic Growth ; Municipal Wastewater ; Pollution ; Production Process ; Research ; River Basins ; Rivers ; Town Water Supply and Sanitation ; Water ; Water Conservation ; Water Conservation ; Water Recycling ; Water Resources ; Water Shortage ; Water Shortages ; Water Supply ; Water Supply and Sanitation ; Water Supply and Sanitation Governance and Institutions ; Water Supply and Systems ; Water Treatment ; Water Use ; Water and Industry ; Economic Theory and Research ; Energy ; Energy Production and Transportation ; Environment ; Environmental Economics and Policies ; Groundwater ; Industrial Sector ; Industrial Use ; Industrial Water ; Industrial Water Demand ; Industrial Water Use ; Industry ; Industry ; Infrastructure Economics and Finance ; Infrastructure Regulation ; Macroeconomics and Economic Growth ; Municipal Wastewater ; Pollution ; Production Process ; Research ; River Basins ; Rivers ; Town Water Supply and Sanitation ; Water ; Water Conservation ; Water Conservation ; Water Recycling ; Water Resources ; Water Shortage ; Water Shortages ; Water Supply ; Water Supply and Sanitation ; Water Supply and Sanitation Governance and Institutions ; Water Supply and Systems ; Water Treatment ; Water Use ; Water and Industry
    Abstract: The marginal productivity of water used for industry varies among sectors in China, but there is great potential for the Chinese government to save water by raising water prices to industry, to encourage water conservation. - Using plant-level data on more than 1,000 Chinese industrial plants, Wang and Lall estimate a production function treating capital, labor, water, and raw material as inputs to industrial production. They then estimate the marginal productivity of water based on the estimated production function. Using the marginal productivity approach to valuing water for industrial use, they also derive a model and estimates for the price elasticity of water use by Chinese industries. Previous studies used water demand functions and total cost functions to estimate firms' willingness to pay for water use. They find that the marginal productivity of water varies among sectors in China, with an industry average of 2.5 yuan per cubic meter of water. The average price elasticity of industrial water demand is about -1.0, suggesting a great potential for the Chinese government to use pricing policies to encourage water conservation in the industrial sector. Increasing water prices would reduce water use substantially. This paper - a product of Infrastructure and Environment, Development Research Group - is part of a larger effort in the group to understand the economics of industrial pollution control in developing countries
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  • 59
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    The Effects of Land Registration on Financial Development and Economic Growth : A Theoretical and Conceptual Framework (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (22 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Byamugisha, K.F. Frank The Effects of Land Registration on Financial Development and Economic Growth
    Keywords: Bank Policy ; Collateral ; Common Property Resource Development ; Communities & Human Settlements ; Contracts ; Debt Markets ; Depos Deposit Mobilization ; Economic Development ; Economic Theory and Research ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Financial Development ; Financial Literacy ; Investment ; Labor Policies ; Land Title ; Land Titling ; Land Use and Policies ; Land and Real Estate Development ; Liquidity ; Macroeconomics and Economic Growth ; Markets ; Municipal Housing and Land ; Poverty Reduction ; Private Property ; Private Sector Development ; Property Rights ; Rural Development ; Rural Land Policies for Poverty Reduction ; Security ; Seizure ; Social Protections and Labor ; Transaction ; Transaction Costs ; Transactions ; Bank Policy ; Collateral ; Common Property Resource Development ; Communities & Human Settlements ; Contracts ; Debt Markets ; Depos Deposit Mobilization ; Economic Development ; Economic Theory and Research ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Financial Development ; Financial Literacy ; Investment ; Labor Policies ; Land Title ; Land Titling ; Land Use and Policies ; Land and Real Estate Development ; Liquidity ; Macroeconomics and Economic Growth ; Markets ; Municipal Housing and Land ; Poverty Reduction ; Private Property ; Private Sector Development ; Property Rights ; Rural Development ; Rural Land Policies for Poverty Reduction ; Security ; Seizure ; Social Protections and Labor ; Transaction ; Transaction Costs ; Transactions
    Abstract: November 1999 - A theoretical framework to guide empirical analysis of how land registration affects financial development and economic growth. The author develops a theoretical framework to guide empirical analysis of how land registration affects financial development and economic growth. Most conceptual approaches investigate the effects of land registration on only one sector, nut land registration is commonly observed to affect not only other sectors but the economy as a whole The author builds on the well-tested link between secure land ownership and farm productivity, adding to the framework theory about positive information and transaction costs. To map the relationship between land registration and financial development and economic growth, the framework links: -Land tenure security and investment incentives. -Land title, collateral, and credit. -Land markets, transactions, and efficiency. -Labor mobility and efficiency. -Land liquidity, deposit mobilization, and investment. Empirical results from applying the framework to a single case study - of Thailand, described in a separate paper - suggest that the framework is sound. This paper - a product of the Rural Development and Natural Resources Sector Unit, East Asia and Pacific Region - is part of a larger effort in the region to increase the effectiveness of country assistance strategies in the area of property rights and economic development
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  • 60
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    True World Income Distribution, 1988 and 1993 : First Calculations, Based on Household Surveys Alone (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (70 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Milanovic, Branko True World Income Distribution, 1988 and 1993
    Keywords: Consumption ; Economic Theory ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Growth Models ; Health Systems Development and Reform ; Health, Nutrition and Population ; Household Income ; Household Surveys ; Income ; Income ; Income Differences ; Income Distribution ; Income Distribution Data ; Income Inequality ; Increasing Inequality ; Inequality ; Inequality ; Macroeconomics ; Macroeconomics and Economic Growth ; Mean Incomes ; Median Voter ; Median Voter Hypothesis ; Personal Income ; Political Economy ; Poverty Diagnostics ; Poverty Impact Evaluation ; Poverty Reduction ; Power Parity ; Private Sector Development ; Rising Inequality ; Rural Development ; Rural Poverty Reduction ; Services and Transfers to Poor ; Social Protections and Labor ; Consumption ; Economic Theory ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Growth Models ; Health Systems Development and Reform ; Health, Nutrition and Population ; Household Income ; Household Surveys ; Income ; Income ; Income Differences ; Income Distribution ; Income Distribution Data ; Income Inequality ; Increasing Inequality ; Inequality ; Inequality ; Macroeconomics ; Macroeconomics and Economic Growth ; Mean Incomes ; Median Voter ; Median Voter Hypothesis ; Personal Income ; Political Economy ; Poverty Diagnostics ; Poverty Impact Evaluation ; Poverty Reduction ; Power Parity ; Private Sector Development ; Rising Inequality ; Rural Development ; Rural Poverty Reduction ; Services and Transfers to Poor ; Social Protections and Labor
    Abstract: Inequality in world income is very high, according to household surveys, more because of differences between mean country incomes than because of inequality within countries. World inequality increased between 1988 and 1993, driven by slower growth in rural per capita incomes in populous Asian countries (Bangladesh, China, and India) than in large, rich OECD countries, and by increasing income differences between urban China on the one hand and rural China and rural India on the other. - Milanovic derives the distribution of individuals' income or expenditures for two years, 1988 and 1993. His is the first paper to calculate world distribution for individuals based entirely on data from household surveys. The data, from 91 countries, are adjusted for differences in purchasing power parity between the countries. Measured by the Gini index, inequality increased from an already high 63 in 1988 to 66 in 1993. This increase was driven more by rising differences in mean incomes between countries than by rising inequalities within countries. Contributing most to the inequality were rising urban-rural differences in China and the slower growth of rural purchasing-power-adjusted incomes in South Asia than in several large developed market economies. This paper - a product of Poverty and Human Resources, Development Research Group - is part of a larger effort in the group to study inequality and poverty in the world. Also published in The Economic Journal, January 2002 pp. 51-92 The author may be contacted at bmilanovicworldbank.org
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  • 61
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    Privatization and Regulation of Transport Infrastructure in the 1990s : Successes . . . and Bugs to Fix for the Next Mille (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (42 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Estache, Antonio Privatization and Regulation of Transport Infrastructure in the 1990s
    Keywords: Air ; Airports ; Bus ; Costs ; Driving ; Infrastructure Projects ; Private Transport ; Public Works ; Rail ; Railways ; Roads ; Safety ; Toll ; Transport ; Transport ; Transport Activity ; Transport Economics, Policy and Planning ; Transport Infrastructure ; Transport Infrastructures ; Transport Operators ; Transport Policies ; Transport Projects ; Air ; Airports ; Bus ; Costs ; Driving ; Infrastructure Projects ; Private Transport ; Public Works ; Rail ; Railways ; Roads ; Safety ; Toll ; Transport ; Transport ; Transport Activity ; Transport Economics, Policy and Planning ; Transport Infrastructure ; Transport Infrastructures ; Transport Operators ; Transport Policies ; Transport Projects
    Abstract: Learning to regulate fairly, effectively, and at arm's length may be the main challenge governments face in attracting private investment and financing to the transport sector. - Governments should increasingly be able to rely on the private sector for help supporting (and financing) the transport sector - especially infrastructure support services for which there is heavy demand - but first they must improve their regulatory tools and sort out the institutional mess surrounding the regulatory process. Some countries have put together creative restructuring models and financing designs that tap potential in the private sector. Roads will continue to need significant public funding, but there are innovative ways (including shadow tolls) to attract private financing for road maintenance and investment. Partnerships between the public and private sectors have remained largely untapped at ports and airports. To attract more private capital to the sector, regulators must know the cost of capital, know how to be fair to captive shippers, and have a better handle on demand - so they have more credibility when conflicts arise. Governments have overemphasized making deals and have generally underestimated the difficulty of taking on their new job as regulators. They are increasingly switching to contract-based regulation, to firm up the commitments of all parties involved, but are not adequately emphasizing contract design that anticipates problems and addresses unpredictable situations. This increases the risk of arbitrary regulatory rulings, which increases regulatory and political risks, which raises the expected rate of return required by potential investors. And all that makes future projects costlier or more difficult, adding to the effects of the 1998-99 financial crisis. As a result of increased risk, the two groups most interested in the sector are: · Large, strong operators in the sector - typically in tandem with local construction companies - that feel confident they can take on regulators in case of conflict. · Risk-takers carving a niche for themselves. Either way, taxpayers and transport users are exposed to government, regulator, or operator failures that result in contract renegotiations (the norm, rather than the exception, in transport infrastructure projects). Gains from privatization might not reach consumers, simply because governments are ignoring the importance of ensuring fair distribution of long-run gains through the early creation of independent and accountable regulatory institutions that work closely with effective competition agencies. This paper - a product of Governance, Regulation, and Finance, World Bank Institute - is part of a larger effort in the institute to increase understanding of infrastructure regulation. The author may be contacted at aestacheworldbank.org
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  • 62
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    Revenue Recycling and the Welfare Effects of Road Pricing (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (36 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Parry, H.W. Ian Revenue Recycling and the Welfare Effects of Road Pricing
    Keywords: Congestion ; Congestion Reduction ; Costs ; Costs Of Travel ; Externalities ; Fuel ; Fuel Consumption ; Infrastructure ; Policies ; Public Trans Public Transit Subsidies ; Road ; Road Pricing ; Road Traffic ; Tax ; Taxes ; Traffic ; Traffic Congestion ; Transport ; Transport Economics, Policy and Planning ; Vehicle ; Vehicle Miles ; Congestion ; Congestion Reduction ; Costs ; Costs Of Travel ; Externalities ; Fuel ; Fuel Consumption ; Infrastructure ; Policies ; Public Trans Public Transit Subsidies ; Road ; Road Pricing ; Road Traffic ; Tax ; Taxes ; Traffic ; Traffic Congestion ; Transport ; Transport Economics, Policy and Planning ; Vehicle ; Vehicle Miles
    Abstract: December 1999 - The presence of preexisting tax distortions, and the form of revenue recycling, can crucially affect the size - and possibly even the sign - of the welfare effect of road pricing schemes. The efficiency gains from recycling congestion tax revenues in other tax reductions can amount to several times the Pigouvian welfare gains from congestion reduction. Parry and Bento explore the interactions between taxes on work-related traffic congestion and preexisting distortionary taxes in the labor market. A congestion tax raises the overall costs of commuting to work and discourages labor force participation at the margin when revenues are returned in lump-sum transfers. The resulting efficiency loss in the labor market can be larger than the Pigouvian efficiency gains from internalizing the congestion externality. By contrast, if congestion tax revenues are used to reduce labor taxes, the net impact on the labor supply is positive and the efficiency gain in the labor market can raise the overall welfare gains of the congestion tax by as much as 100 percent. Recycling congestion tax revenues in public transit subsidies produces a positive, but smaller, impact on the labor supply. In short, Parry and Bento's results indicate that the presence of preexisting tax distortions, and the form of revenue recycling, can crucially affect the size - and possibly even the sign - of the welfare effect of road pricing schemes. The efficiency gains from recycling congestion tax revenues in other tax reductions can amount to several times the Pigouvian welfare gains from congestion reduction. This paper - a product of Infrastructure and Environment, Development Research Group - is part of a larger effort in the group to study the cost-effectiveness of alternative transport policies. The study was funded by the Bank's Research Support Budget under the research project The Cost-Effectiveness of Alternative Transport Policies (RPO 683-39). Copies of this paper are available free. Please contact Roula Yazigi, email address ryazigiworldbank.org. The authors may be contacted at parry@rff.org or abento@worldbank.org
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  • 63
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    Infrastructure, Geographical Disadvantage, and Transport Costs (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (48 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Venables, Anthony Infrastructure, Geographical Disadvantage, and Transport Costs
    Keywords: Elasticity ; Fixed Costs ; High Transport ; Infrastructure ; Infrastructure Investment ; International Transport ; Journey ; Journeys ; Quality Of Transport ; Rail ; Road ; Routes ; Trans Transit Routes ; Transport ; Transport ; Transport Costs ; Transport Economics ; Transport Economics, Policy and Planning ; Travel ; Trips ; True ; Elasticity ; Fixed Costs ; High Transport ; Infrastructure ; Infrastructure Investment ; International Transport ; Journey ; Journeys ; Quality Of Transport ; Rail ; Road ; Routes ; Trans Transit Routes ; Transport ; Transport ; Transport Costs ; Transport Economics ; Transport Economics, Policy and Planning ; Travel ; Trips ; True
    Abstract: December 1999 - The median landlocked country has only 30 percent of the trade volume of the median coastal economy. Halving transport costs increases that trade volume by a factor of five. Improving the standard of infrastructure from that of the bottom quarter of countries to that of the median country increases trade by 50 percent. Improving infrastructure in Sub-Saharan Africa is especially important for increasing African trade. Limão and Venables use three different data sets to investigate how transport depends on geography and infrastructure. Landlocked countries have high transport costs, which can be substantially reduced by improving the quality of their infrastructure and that of transit countries. Analysis of bilateral trade data confirms the importance of infrastructure. Limão and Venables estimate the elasticity of trade flows with regard to transport costs to be high, at about -2.5. This means that: · The median landlocked country has only 30 percent of the trade volume of the median coastal economy. · Halving transport costs increases the volume of trade by a factor of five. · Improving infrastructure from the 75th to the 50th percentile increases trade by 50 percent. Using their results and a basic gravity model to study Sub-Saharan African trade, both internally and with the rest of the world, Limão and Venables find that infrastructure problems largely explain the relatively low levels of African trade. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to investigate the effects of geography on economic performance. The authors may be contacted at ngl4columbia.edu or avenables@worldbank.org
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  • 64
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    Regional Integration Agreements : A Force for Convergence or Divergence? (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (36 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Venables, Anthony Regional Integration Agreements
    Keywords: Agriculture ; Comparative Advantage ; Consumers ; Country Strategy and Performance ; Development Economics ; Economic Integration ; Economic Performance ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Free Trade ; Free Trade ; Human Capital ; Income ; Income ; Income Levels ; Inequality ; International Economics & Trade ; Law and Development ; Macroeconomics and Economic Growth ; Outcomes ; Per Capita Income ; Per Capita Incomes ; Poverty Reduction ; Private Sector Development ; Production ; Public Sector Development ; Real Income ; Social Protections and Labor ; Theory ; Trade Diversion ; Trade Law ; Trade Policy ; Trade and Regional Integration ; Value ; Value Added ; Welfare ; Agriculture ; Comparative Advantage ; Consumers ; Country Strategy and Performance ; Development Economics ; Economic Integration ; Economic Performance ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Free Trade ; Free Trade ; Human Capital ; Income ; Income ; Income Levels ; Inequality ; International Economics & Trade ; Law and Development ; Macroeconomics and Economic Growth ; Outcomes ; Per Capita Income ; Per Capita Incomes ; Poverty Reduction ; Private Sector Development ; Production ; Public Sector Development ; Real Income ; Social Protections and Labor ; Theory ; Trade Diversion ; Trade Law ; Trade Policy ; Trade and Regional Integration ; Value ; Value Added ; Welfare
    Abstract: December 1999 - Developing countries may be better served by north-south than by south-south free trade agreements. Free trade agreements between low-income countries tend to lead to divergence in member country incomes, while agreements between high-income countries tend to lead to convergence. Venables examines how benefits - and costs - of a free trade area are divided among member countries. Outcomes depend on the member countries' comparative advantage, relative to one another and to the rest of the world. Venables finds that free trade agreements between low-income countries tend to lead to divergence in member country incomes, while agreements between high-income countries tend to lead to convergence. Changes induced by comparative advantage may be amplified by the effects of agglomeration. The results suggest that developing countries may be better served by north-south than by south-south free trade agreements, because north-south agreements increase their prospects for convergence with high-income members of the free trade area. In north-south free trade agreements, additional forces are likely to operate. The agreement may be used, for example, as a commitment mechanism to lock in economic reforms (as happened in Mexico with the North American Free Trade Agreement and in Eastern European countries with the European Union). A free trade agreement may also - through its effect on trade and through foreign direct investment - promote technology transfer to lower-income members. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to study the effects of regional integration. The author may be contacted at avenablesworldbank.org
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  • 65
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    Do More Unequal Countries Redistribute More? : Does the Median Voter Hypothesis Hold? (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (56 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Milanovic, Branko Do More Unequal Countries Redistribute More?
    Keywords: Consumption ; Disposable Income ; Economic Mechanism ; Economic Theory and Research ; Emerging Markets ; Endogenous Growth ; Factor Income ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal and Monetary Policy ; Growth Rate ; Growth Theories ; Income ; Income ; Income Distribution ; Income Groups ; Income Inequality ; Inequality ; Inequality ; Investment and Investment Climate ; Labor Policies ; Macroeconomics and Economic Growth ; Mean Income ; Median Voter ; Median Voter Hypothesis ; Personal Income ; Personal Income Taxes ; Political Mechanism ; Poverty Impact Evaluation ; Poverty Reduction ; Private Sector Development ; Public Choice ; Public Sector Development ; Services and Transfers to Poor ; Significant Relationship ; Social Protections and Labor ; Consumption ; Disposable Income ; Economic Mechanism ; Economic Theory and Research ; Emerging Markets ; Endogenous Growth ; Factor Income ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal and Monetary Policy ; Growth Rate ; Growth Theories ; Income ; Income ; Income Distribution ; Income Groups ; Income Inequality ; Inequality ; Inequality ; Investment and Investment Climate ; Labor Policies ; Macroeconomics and Economic Growth ; Mean Income ; Median Voter ; Median Voter Hypothesis ; Personal Income ; Personal Income Taxes ; Political Mechanism ; Poverty Impact Evaluation ; Poverty Reduction ; Private Sector Development ; Public Choice ; Public Sector Development ; Services and Transfers to Poor ; Significant Relationship ; Social Protections and Labor
    Abstract: December 1999 - The data strongly support the hypothesis that countries with more unequal distribution of factor income redistribute more in favor of the poor - even when the analysis controls for older people's share in total population (that is, for pension transfers). But the evidence on the median voter hypothesis is inconclusive even if middle-income groups gain more (or lose less) through redistribution in countries where initial (factor) income distribution is more unequal. The median voter hypothesis is important to endogenous growth theories because it provides the political mechanism through which voters in more unequal countries redistribute a greater proportion of income and thus (it is argued), by blunting incentives, reduce the country's growth rate. But the hypothesis was never properly tested because of lack of data on the distribution of (pre-tax and transfer) factor income across households, and hence on the exact amount of gain by the poorest quintile or poorest half. Milanovic tests the hypothesis using 79 observations drawn from household budget surveys from 24 democracies. The data strongly support the hypothesis that countries with more unequal distribution of factor income redistribute more in favor of the poor - even when the analysis controls for the older people's share in total population (that is, for pension transfers). The evidence on the median voter hypothesis is much weaker. Milanovic does find that middle-income groups gain more (or lose less) through redistribution in countries where initial (factor) income distribution is more unequal. This regularity evaporates, however, when pensions are dropped from social transfers and the focus is strictly on the more redistributive social transfers. This paper - a product of Poverty and Human Resources, Development Research Group - is part of a larger effort in the group to study the relationship between democracy and inequality. The study was funded in part by the Bank's Research Support Budget under the research project Democracy, Redistribution, and Inequality (RPO 683-01). Also published as “The median voter hypothesis, income inequality and income redistribution: An empirical test with the required data”, European Journal of Political Economy , vol. 16, No. 3, September 2000, pp. 367-410. The author may be contacted at bmilanovicworldbank.org
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  • 66
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    Argentina's Transport Privatization and Re-Regulation : Ups and Downs of a Daring Decade-Long Experience (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (30 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Estache, Antonio Argentina's Transport Privatization and Re-Regulation
    Keywords: Airport ; Airport Authority ; Commuters ; Costs ; Infrastructure ; Investments ; Modal Shift ; Port Services ; Rail ; Railroad ; Railways ; Road Transport ; Roads ; Subsidy ; Subway ; Traffic ; Transport ; Transport ; Transport Economics ; Transport Economics, Policy and Planning ; Transport Sector ; Trucks ; Airport ; Airport Authority ; Commuters ; Costs ; Infrastructure ; Investments ; Modal Shift ; Port Services ; Rail ; Railroad ; Railways ; Road Transport ; Roads ; Subsidy ; Subway ; Traffic ; Transport ; Transport ; Transport Economics ; Transport Economics, Policy and Planning ; Transport Sector ; Trucks
    Abstract: November 1999 - Argentina's policy for reform of the transport sector has been a mix of competition in the market and, through concessions, for the market. Capacity has increased, demand has grown, and prices and services have improved. Public financing has not been eliminated but it has been drastically reduced. When Argentina initiated reform of its transport sector in 1989, it had few models to follow. It was the first Latin American country to privatize its intercity railroad, to explicitly organize intraport competition, and to grant a private concession to operate its subway. It was second (after Japan) to privatize its urban commuter railways and one of the first in the developing world to grant road concessions to private operators. Argentina's experience shows that transport privatization and deregulation provide efficiency gains that can be delivered to users. Despite unexpectedly high residual subsidy requirements, fiscal costs are lower, services have improved, and new investment is taking place. Argentina's decade-long experience shows that the reform process involves learning by doing. Inexperienced new regulators quickly face the challenges in controlling monopoly power and providing long-run incentives for private investment. Designing sustainable reform requires a commitment by government to minimize its role in the sector and to respect its original promises to both users and concessionaires. Argentina has learned the importance of building up the regulatory capacity needed to monitor contracts, especially when initial uncertainty about demand and cost conditions is strong and renegotiation is the probable outcome of daring reform. The government's main challenge in monitoring contracts is to get enough information to reach a balance in its decisions about distributing efficiency gains fairly between consumers and private investors. This is one area in which Argentina may not yet have met the challenge. As the last wave of contract extensions in rail and roads comes to an end, one issue is likely to be the need for better targeting of subsidies for the poor. This paper - a product of Governance, Regulation, and Finance, World Bank Institute - is part of a larger effort in the institute to increase understanding of infrastructure regulation. Antonio Estache may be contacted at aestacheworldbank.org
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  • 67
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    Geographical Disadvantage : A Heckscher-Ohlin-- von Thunen Model of International Specialization (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (38 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Venables, Anthony Geographical Disadvantage
    Keywords: Benchmark ; Economic Structures ; Elasticities ; Elasticity ; Exports ; Goods ; High Transport ; Income ; Infrastructure ; Outcomes ; Price Changes ; Prices ; Production ; Theory ; Trade ; Trade Liberalization ; Transport ; Transport ; Transport Costs ; Transport Economics, Policy and Planning ; Variables ; Welfare ; Benchmark ; Economic Structures ; Elasticities ; Elasticity ; Exports ; Goods ; High Transport ; Income ; Infrastructure ; Outcomes ; Price Changes ; Prices ; Production ; Theory ; Trade ; Trade Liberalization ; Transport ; Transport ; Transport Costs ; Transport Economics, Policy and Planning ; Variables ; Welfare
    Abstract: What effect does distance have on costs for economies at different locations? Exports and imports of final and intermediate goods bear transport costs that increase with distance. Production and trade depend on factor endowments and factor intensities as well as on distance and the transport intensities of different goods. - The combination of distance, poor infrastructure, and being landlocked by neighbors with poor infrastructure can make transport costs many times higher for some developing countries than for most others. Drawing on two traditions of economic modeling - Heckscher-Ohlin trade theory and von Thunen's work on the isolated state - Venables and Limão analyze the trade and production patterns of countries located at varying distances from an economic center. Predicting a country's production and trade pattern requires knowledge of the country's location, its factor endowment, and the factor intensities and transport intensities of goods. Venables and Limão define transport intensity and show how location and transport intensity should be combined with factor abundance and factor intensity in determining trade flows. A theory based on only one set of those variables, such as factor abundance, will systematically make incorrect predictions. They report that geography and endowments interact in such a way that the world divides up into economic zones with different trade patterns. Countries close to the economic center may specialize in transport-intensive activities; countries further out become diversified, producing and sometimes trading more goods; countries still further out may become import-substituting (replacing some of their imports from the center with local production); in the extreme, regions become autarkic. More remote locations have lower real incomes. Globalization changes the terms of trade, improving the welfare of regions further out from economic centers, though reducing the welfare of closer regions. Where will a new activity, such as assembly of a new product, locate? Remote locations are disadvantaged if the product has high transport intensity (perhaps because of heavy requirements for intermediate inputs). But the costs of remoteness are already incorporated into the factor prices of those regions, which makes them more attractive. Which location is chosen depends, therefore, on how existing activities compare with the new activity in transport intensity and factor intensity. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to study the location of economic activity. The authors may be contacted at avenablesworldbank.org or ngl4@columbia.edu
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    How Inadequate Provision of Public Infrastructure and Services Affects Private Investment (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (32 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Reinikka, Ritva How Inadequate Provision of Public Infrastructure and Services Affects Private Investment
    Keywords: Bottlenecks ; Capital Stock ; Debt Markets ; Emerging Markets ; Employment ; Equipment ; Finance ; Finance and Financial Sector Development ; IRU ; Infrastructure ; Interest ; Interest Rates ; International Economics & Trade ; Investment ; Investment Rate ; Investment Rates ; Investment and Investment Climate ; Labor Policies ; M1 ; Macroeconomics and Economic Growth ; Non Bank Financial Institutions ; Prices ; Private Sector Development ; Prof Standard Errors ; Roads and Highways ; Social Protections and Labor ; Statistics ; Tax ; Taxes ; Trade and Regional Integration ; Transport ; Vdu ; Bottlenecks ; Capital Stock ; Debt Markets ; Emerging Markets ; Employment ; Equipment ; Finance ; Finance and Financial Sector Development ; IRU ; Infrastructure ; Interest ; Interest Rates ; International Economics & Trade ; Investment ; Investment Rate ; Investment Rates ; Investment and Investment Climate ; Labor Policies ; M1 ; Macroeconomics and Economic Growth ; Non Bank Financial Institutions ; Prices ; Private Sector Development ; Prof Standard Errors ; Roads and Highways ; Social Protections and Labor ; Statistics ; Tax ; Taxes ; Trade and Regional Integration ; Transport ; Vdu
    Abstract: Evidence from Uganda shows that poor public provision of infrastructure services - proxied by an unreliable and inadequate power supply - significantly reduces productive private investment. - Lack of private investment is a serious policy problem in many developing countries, especially in Africa. Despite recent structural reform and stabilization, the investment response to date has been mixed, even among the strongest reformers. The role of poor infrastructure and deficient public services has received little attention in the economic literature, where the effect of public spending and investment on growth is shown to be at best ambiguous. Reinikka and Svensson use unique microeconomic evidence to show the effects of poor infrastructure services on private investment in Uganda. They find that poor public capital, proxied by an unreliable and inadequate power supply, significantly reduces productive private investment. Firms can substitute for inadequate provision of public capital by investing in it themselves. This comes at a cost, however: the installation of less productive capital. These results have clear policy implications. Although macroeconomic reforms and stabilization are necessary conditions for sustained growth and private investment, without an accompanying improvement in the public sector's performance, the private supply response to macroeconomic policy reform is likely to remain limited. This paper - a product of Public Economics and Macroeconomics and Growth, Development Research Group - is part of a larger effort in the group to study public service delivery and economic growth. The authors may be contacted at rreinikkaworldbank.org or jsvensson@worldbank.org
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    Malaria and Growth (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (30 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: McCarthy, Desmond F Malaria and Growth
    Keywords: Anopheles Mosquitoes ; Climate Change ; Communicable Diseases ; Disability ; Disease Control and Prevention ; Diseases ; Early Child and Children's Health ; Effects ; Environment ; Females ; Health ; Health Indicators ; Health Monitoring and Evaluation ; Health Service Management and Delivery ; Health, Nutrition and Population ; Illnesses ; Impact Of Malaria ; Life ; Malaria ; Malaria ; Malaria Incidence ; Malaria Morbidity ; Malaria Mortality ; Medical Treatment ; Morbidity And Mortality ; Nutrition ; Parasitic Disease ; Population Policies ; Poverty Reduction ; Poverty and Health ; Public Health ; Tuberculosis ; Vaccine ; Anopheles Mosquitoes ; Climate Change ; Communicable Diseases ; Disability ; Disease Control and Prevention ; Diseases ; Early Child and Children's Health ; Effects ; Environment ; Females ; Health ; Health Indicators ; Health Monitoring and Evaluation ; Health Service Management and Delivery ; Health, Nutrition and Population ; Illnesses ; Impact Of Malaria ; Life ; Malaria ; Malaria ; Malaria Incidence ; Malaria Morbidity ; Malaria Mortality ; Medical Treatment ; Morbidity And Mortality ; Nutrition ; Parasitic Disease ; Population Policies ; Poverty Reduction ; Poverty and Health ; Public Health ; Tuberculosis ; Vaccine
    Abstract: March 2000 - Malaria ranks among the foremost health problems in tropical countries. Allowing for reverse causation, malaria is estimated to reduce GDP per capita growth rates by at least a quarter percentage point a year in many Sub-Saharan countries. McCarthy, Wolf, and Wu explore the two-sided link between malaria morbidity and GDP per capita growth. Climate significantly affects cross-country differences in malaria morbidity. Tropical location is not destiny, however: greater access to rural health care and greater income equality are associated with lower malaria morbidity. But the interpretation of this link is ambiguous: does greater income equality allow for improved anti-malaria efforts, or does malaria itself increase income inequality? Allowing for two-sided causation, McCarthy, Wolf, and Wu find a significant negative causal effect running from malaria morbidity to the growth rate of GDP per capita. In about a quarter of their sample countries, malaria is estimated to reduce GDP per capita growth by at least 0.25 percentage point a year. This paper - a product of Public Economics, Development Research Group - is part of a larger effort in the group to study the health-environment-economy nexus. This study was funded by the Bank's Research Support Budget under the research project Health, Environment, and the Economy (RPO 683-73). The authors may be contacted at fmccarthyworldbank.org and holger.wolf@mailexcite.com
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    International Contagion : Implications for Policy (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (40 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Majnoni, Giovanni International Contagion
    Keywords: Bankruptcy and Resolution of Financial Distress ; Currencies and Exchange Rates ; Currency ; Currency Crises ; Debt Markets ; Deposit Insurance ; Emerging Markets ; Exchange ; Exchange Rate ; External Debts ; Finance and Financial Sector Development ; Financial Contagion ; Financial Crises ; Financial Fragility ; Foreign Interest ; Guarantees ; Interest Rates ; International Financial Contagion ; International Investors ; Liability ; Liquidity ; Market ; Maturity ; Options ; Policy Responses ; Private Sector Development ; Short-Term Debt ; Bankruptcy and Resolution of Financial Distress ; Currencies and Exchange Rates ; Currency ; Currency Crises ; Debt Markets ; Deposit Insurance ; Emerging Markets ; Exchange ; Exchange Rate ; External Debts ; Finance and Financial Sector Development ; Financial Contagion ; Financial Crises ; Financial Fragility ; Foreign Interest ; Guarantees ; Interest Rates ; International Financial Contagion ; International Investors ; Liability ; Liquidity ; Market ; Maturity ; Options ; Policy Responses ; Private Sector Development ; Short-Term Debt
    Abstract: March 2000 - What can the international community do to prevent financial contagion? Chang and Majnoni try to identify and evaluate the public policy implications of financial contagion on the basis of a very simple model of financial crises. In this model, financial contagion can be driven by a combination of fundamentals and by self-fulfilling market expectations. The model allows the authors to identify different notions of contagion, especially the distinction between monsoonal effects, spillovers, and switchers between equilibria. They discuss both domestic and international policy options. Domestic policies, they say, should be aimed at reducing financial fragility - that is, reducing unnecessary short-term debt commitments. With explicit commitments, the maturity of external debts should be lengthened. With implicit commitments, such as private liability guarantees, they emphasize limiting or eliminating such guarantees, to improve an economy's international liquidity and reduce its exposure to contagion. Internationally, they stress the need for improving financial standards, which makes it easier to assess when a country is subject to different kinds of contagion. The effectiveness of international rescue packages depends on the kind of contagion to which a country is exposed. Implications: The international community should help those countries that are already helping themselves. This paper - a product of the Financial Sector Strategy and Policy Group - is part of a larger effort in the group to study the determinants and policy implications of international financial contagion. The author Giovanni Majnoni may be contacted at gmajnoniworldbank.org
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    How Politics and Institutions Affect Pension Reform in Three Postcommunist Countries (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (80 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Orenstein, A. Mitchell How Politics and Institutions Affect Pension Reform in Three Postcommunist Countries
    Keywords: Bank ; Bank Involvement ; Children and Youth ; Contributions ; Debt Markets ; Emerging Markets ; Expense ; Finance and Financial Sector Development ; Financial Literacy ; Interest ; Investment ; Investment Returns ; Pension ; Pension Accounts ; Pension Reform ; Pension Reforms ; Pension System ; Pensioners ; Pensions and Retirement Systems ; Private Pension ; Private Pension Funds ; Private Sector Development ; Public Sector Corruption and Anticorruption Measures ; Purchase ; Retirement ; Social Protections and Labor ; State Pension ; Trade Unions ; Working Life ; Bank ; Bank Involvement ; Children and Youth ; Contributions ; Debt Markets ; Emerging Markets ; Expense ; Finance and Financial Sector Development ; Financial Literacy ; Interest ; Investment ; Investment Returns ; Pension ; Pension Accounts ; Pension Reform ; Pension Reforms ; Pension System ; Pensioners ; Pensions and Retirement Systems ; Private Pension ; Private Pension Funds ; Private Sector Development ; Public Sector Corruption and Anticorruption Measures ; Purchase ; Retirement ; Social Protections and Labor ; State Pension ; Trade Unions ; Working Life
    Abstract: March 2000 - During reform's three phases - commitment-building, coalition-building, and implementation - there are tradeoffs among inclusiveness (of process), radicalism (of reform), and participation in, and compliance with, the new system. Including more, and more various, veto and proposal actors early in the deliberative process may increase buy-in and compliance when pension reform is implemented, but at the expense of faster and greater change. Orenstein examines the political and institutional processes that produced fundamental pension reform in three postcommunist countries: Hungary, Kazakhstan, and Poland. He tests various hypotheses about the relationship between deliberative process and outcomes through detailed case studies of pension reform. The outcomes of reform were similar: each country implemented a mandatory funded pension system as part of reform, but the extent and configuration of changes differed greatly. Countries with more veto actors - social and institutional actors with an effective veto over reform - engaged in less radical reform, as theory predicted. Poland and Hungary generated less radical change than Kazakhstan, partly because they have more representative political systems, to which more associations, interest groups, and proposal actors have access. Proposal actors shape the reform agenda and influence the positions of key veto actors. Pension reform takes longer in countries with more veto and proposal actors, such as Poland and Hungary. Legacies of policy, the development of civil society, and international organizations also profoundly affect the shape and progress of reform. Orenstein sees pension reform as happening in three phases: commitment-building, coalition-building, and implementation. He presents hypotheses about tradeoffs among inclusiveness (of process), radicalism (of reform), and participation in, and compliance with, the new system. One hypothesis: Including more, and more various, veto and proposal actors early in the deliberative process increases buy-in and compliance when reform is implemented, but at the expense of faster and greater change. Early challenges in implementation in all three countries, but especially in Kazakhstan, suggest the importance of improving buy-in through inclusive deliberative processes, where possible. This paper - a product of Poverty and Human Resources, Development Research Group - is part of a larger effort in the group to study the political economy of pension reform. This study was funded by the Bank's Research Support Budget under the research project The Political Economy of Pension Reform (RPO 682-17). The author may be contacted at morenstmaxwell.syr.edu
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    Technological Leadership and Foreign Investors' Choice of Entry Mode (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (38 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Smarzynska, Beata Technological Leadership and Foreign Investors' Choice of Entry Mode
    Keywords: Advertising ; Agricultural Knowledge and Information Systems ; Agriculture ; Buyer ; Debt Markets ; E-Business ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Foreign Direct Investment ; Foreign Direct Investment ; Foreign Investment ; Foreign Investments ; Industry ; Information ; Intangible Assets ; International Economics & Trade ; International Trade ; Investment and Investment Climate ; Joint Ventures ; Macroeconomics and Economic Growth ; Manufacturing ; Manufacturing Industries ; Marketing ; Microfinance ; New Technologies ; Private Information ; Private Sector Development ; Profits ; Proprietary Knowledge ; R&D ; Results ; Rural Development ; Technology ; Technology Industry ; Transactions ; Water Resources ; Water and Industry ; Advertising ; Agricultural Knowledge and Information Systems ; Agriculture ; Buyer ; Debt Markets ; E-Business ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Foreign Direct Investment ; Foreign Direct Investment ; Foreign Investment ; Foreign Investments ; Industry ; Information ; Intangible Assets ; International Economics & Trade ; International Trade ; Investment and Investment Climate ; Joint Ventures ; Macroeconomics and Economic Growth ; Manufacturing ; Manufacturing Industries ; Marketing ; Microfinance ; New Technologies ; Private Information ; Private Sector Development ; Profits ; Proprietary Knowledge ; R&D ; Results ; Rural Development ; Technology ; Technology Industry ; Transactions ; Water Resources ; Water and Industry
    Abstract: April 2000 - Developing country governments tend to favor joint ventures over other forms of foreign direct investment, believing that local participation facilitates the transfer of technology and marketing skills. However, foreign investors who are technological or marketing leaders in their industries are more likely to invest in wholly owned projects than to share ownership. Thus in R&D-intensive sectors joint ventures may offer less potential for transferring technology and marketing techniques than wholly owned subsidiaries. Developing country governments tend to favor joint ventures over other forms of foreign direct investment, believing that local participation facilitates the transfer of technology and marketing skills. Smarzynska assesses joint ventures' potential for such transfers by comparing the characteristics of foreign investors engaged in joint ventures with those of foreign investors engaged in wholly owned projects in transition economies in the early 1990s. Unlike the existing literature, Smarzynska focuses on intra-industry differences rather than interindustry differences in R&D and advertising intensity. Empirical analysis shows that foreign investors who are technological or marketing leaders in their industries are more likely to invest in wholly owned projects than to share ownership. This is true in high- and medium-technology sectors but not in industries with low R&D spending. Smarzynska concludes that it is inappropriate to treat industries as homogeneous in investigating modes of investment. She also suggests that in sectors with high R&D spending joint ventures may present less potential for transfer of technology and marketing techniques than wholly owned subsidiaries. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to study the contribution of trade and foreign direct investment to technology transfer. The author may be contacted at bsmarzynskaworldbank.org
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    Sex Workers and the Cost of Safe Sex : The Compensating Differential for Condom Use in Calcutta (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (24 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Lokshin, Michael Sex Workers and the Cost of Safe Sex
    Keywords: AIDS HIV ; Adolescent Health ; Aids ; Aids Crisis ; Commercial Sex ; Commercial Sex Workers ; Condom Use ; Condoms ; Gender ; Gender and Health ; Health Monitoring and Evaluation ; Health Services ; Health, Nutrition and Population ; Heterosexual Sex ; High Risk Of Infection ; High-Risk ; Infections ; National Aids Control ; Population Policies ; Risk Behavior ; Safe Sex ; Sex ; Sex Partners ; Sex Practices ; Sex Workers ; Sexual Partners ; Young Adults ; AIDS HIV ; Adolescent Health ; Aids ; Aids Crisis ; Commercial Sex ; Commercial Sex Workers ; Condom Use ; Condoms ; Gender ; Gender and Health ; Health Monitoring and Evaluation ; Health Services ; Health, Nutrition and Population ; Heterosexual Sex ; High Risk Of Infection ; High-Risk ; Infections ; National Aids Control ; Population Policies ; Risk Behavior ; Safe Sex ; Sex ; Sex Partners ; Sex Practices ; Sex Workers ; Sexual Partners ; Young Adults
    Abstract: May 2000 - Prostitution is often called the world's oldest profession, yet economists almost never study it. The practice of safe sex by commercial sex workers is considered central to preventing the transmission of AIDS in developing countries - yet sex workers in Calcutta who regularly use condoms suffer a 79 percent loss in their average earnings per sex act. The practice of safe sex by commercial sex workers is considered central to preventing the transmission of AIDS in developing countries. Rao, Gupta, and Jana estimate the compensating differential for condom use among sex workers in Calcutta, based on results from a survey conducted in 1993. If, as suggested by anecdotal evidence, this loss in income is large, it would indicate the existence of strong disincentives for practicing safe sex. To identify the relationship between condom use and the average price per sex act, they follow an instrumental variable approach, exploiting an intervention program focused on providing information about the AIDS virus and about safe sex practices. The program, instituted in 1992, was not systematically administered. Using this method, they found that sex workers who always use condoms face a loss of 79 percent in the average earnings per sex act. This paper - a product of Poverty and Human Resources, Development Research Group - is part of a larger effort in the group to understand the behavior underlying HIV/AIDS transmission. Vijayendra Rao may be contacted at vraoworldbank.org
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    The Geography of International Investment (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (34 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Venables, Anthony The Geography of International Investment
    Keywords: Debt Markets ; Development ; Economic Geography ; Economic Size ; Economic Theory and Research ; Emerging Markets ; Exports ; Externalities ; Finance and Financial Sector Development ; Financial Literacy ; Fixed Costs ; Foreign Direct Investment ; GDP ; Goods ; Income ; Industrial Economies ; Inputs ; International Economics & Trade ; Investment ; Investment and Investment Climate ; Labor Policies ; Macroeconomics and Economic Growth ; Markets ; Mergers ; Non Bank Financial Institutions ; Private Sector Development ; Production ; Social Protections and Labor ; Theory ; Trade ; Trade and Regional Integration ; Transition Economies ; Transport ; Transport Economics, Policy and Planning ; Value ; Variable Costs ; Debt Markets ; Development ; Economic Geography ; Economic Size ; Economic Theory and Research ; Emerging Markets ; Exports ; Externalities ; Finance and Financial Sector Development ; Financial Literacy ; Fixed Costs ; Foreign Direct Investment ; GDP ; Goods ; Income ; Industrial Economies ; Inputs ; International Economics & Trade ; Investment ; Investment and Investment Climate ; Labor Policies ; Macroeconomics and Economic Growth ; Markets ; Mergers ; Non Bank Financial Institutions ; Private Sector Development ; Production ; Social Protections and Labor ; Theory ; Trade ; Trade and Regional Integration ; Transition Economies ; Transport ; Transport Economics, Policy and Planning ; Value ; Variable Costs
    Abstract: May 2000 - Multinationals have become increasingly important to the world economy. Overseas production by U.S. affiliates is three times U.S. exports, for example. Who is investing where, for sales where? Much foreign direct investment is between high-income countries, but investment in some developing and transition regions, while still modest, grew rapidly in the 1990s. Adjusting for market size, much investment stays close to home; adjusting for distance, much heads toward the countries with the biggest markets. Foreign direct investment is more geographically concentrated than either exports or production. Thus U.S. affiliate production in Europe is 7 times U.S. exports to Europe; that ratio drops to 4 for all industrial countries and to 1.6 for developing countries. Multinational activity in high-income countries is overwhelmingly horizontal, involving production for sale to the host country market. In developing countries, a greater proportion of multinational activity is vertical, involving manufacturing at intermediate stages of production. Thus only 4 percent of U.S. affiliate production in the European Union is sold back to the United States, whereas for developing countries the figure is 18 percent, rising to 40 percent for Mexico. Similarly, less than 10 percent of Japan's affiliate production in the EU is sold back to Japan, compared with more than 20 percent in developing countries. In models of horizontal activity, the decision to go multinational is a tradeoff between the additional fixed costs involved in setting up a new plant and the savings in variable costs (transport costs and tariffs) on exports. In models of vertical activity, direct investment is motivated by differences in factor costs. Tariffs and transport costs both encourage vertical multinational activity (by magnifying differences in factor prices) and discourage it (by making trade between headquarters and an affiliate more expensive). The major outward investors carry out much horizontal investment in large markets. For U.S. investors, this means Europe, especially the United Kingdom; for Japan and Europe, it means the United States. Most EU investments, however, stay within the EU. The major outward investors carry out much of their vertical investment closer to home: the United States, in Mexico; the EU, in Central and Eastern Europe; Japan, in Asia. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to study the location of economic activity. Anthony J. Venables may be contacted at a.j.venableslse.ac.uk
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    Ownership and Performance of Lithuanian Enterprises (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (46 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Grigorian, A. David Ownership and Performance of Lithuanian Enterprises
    Keywords: Central Planning ; Debt Markets ; Economic Reforms ; Economic Theory and Research ; Emerging Markets ; Enterprise Performance ; Enterprise Restructuring ; Enterprises ; Finance and Financial Sector Development ; Financial Crisis Management and Restructuring ; Financial Literacy ; Investment and Investment Climate ; Macroeconomics and Economic Growth ; Market Competition ; Microfinance ; Operational Efficiency ; Ownership Of Enterprises ; Performance Indicators ; Political Economy ; Private Firms ; Private Owners ; Private Ownership ; Private Sector Development ; Privatization ; Privatization ; Privatization Process ; Privatization Program ; Profit Maximization ; Share Ownership ; State Firms ; State Owned Enterprise Reform ; State Ownership ; State Property ; Central Planning ; Debt Markets ; Economic Reforms ; Economic Theory and Research ; Emerging Markets ; Enterprise Performance ; Enterprise Restructuring ; Enterprises ; Finance and Financial Sector Development ; Financial Crisis Management and Restructuring ; Financial Literacy ; Investment and Investment Climate ; Macroeconomics and Economic Growth ; Market Competition ; Microfinance ; Operational Efficiency ; Ownership Of Enterprises ; Performance Indicators ; Political Economy ; Private Firms ; Private Owners ; Private Ownership ; Private Sector Development ; Privatization ; Privatization ; Privatization Process ; Privatization Program ; Profit Maximization ; Share Ownership ; State Firms ; State Owned Enterprise Reform ; State Ownership ; State Property
    Abstract: May 2000 - Does private ownership improve on corporate performance in a developing institutional environment? In Lithuania commercial transfer of state property to private owners has significantly improved enterprises' revenue and export performance. Grigorian presents some evidence of improved corporate performance in Lithuania for the period 1995-97. His question: Were these improvements in any way caused by privatization and changes in the environment in which enterprises operate? He presents evidence of correlation between ownership and enterprise performance as measured by increased revenues and improved export performance. Controlling for preselection bias increases the magnitude and significance of private share ownership, which indicates negative selection bias at privatization. On the other hand, (expected) subsidies seem to contribute negatively to enterprise performance. However, the study finds no clear evidence of the effect of market competition on performance indicators in the short run. Grigorian's is the first study to analyze the consequences of commercial (as opposed to mass) privatization in Central and Eastern European countries. This paper - a product of the Private and Financial Sectors Development Sector Unit, Europe and Central Asia Region - is part of a larger effort in the region to study enterprise restructuring in transition. The author may be contacted at dgrigorianworldbank.org
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    Terror as a Bargaining Instrument : A Case Study of Dowry Violence in Rural India (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (36 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Rao, Vijayendra Terror as a Bargaining Instrument
    Keywords: Adolescent Health ; Benef Children ; Divorce ; Domestic Violence ; Families ; Family ; Females ; Gender ; Gender and Law ; Health, Nutrition and Population ; Home ; House ; Husband ; Husbands ; Law and Development ; Marriage ; Marriages ; Sanctions ; Social Development ; Social Inclusion and Institutions ; Wedding ; Wife ; Will ; Wives ; Woman ; Women ; Adolescent Health ; Benef Children ; Divorce ; Domestic Violence ; Families ; Family ; Females ; Gender ; Gender and Law ; Health, Nutrition and Population ; Home ; House ; Husband ; Husbands ; Law and Development ; Marriage ; Marriages ; Sanctions ; Social Development ; Social Inclusion and Institutions ; Wedding ; Wife ; Will ; Wives ; Woman ; Women
    Abstract: May 2000 - Some aspects of violent behavior are linked to economic incentives and deserve more attention from economists. In India, for example, domestic violence is used as a bargaining instrument, to extract larger dowries from a wife's family, after the marriage has taken place. Bloch and Rao examine how domestic violence may be used as a bargaining instrument, to extract larger dowries from a spouse's family. The phrase dowry violence refers not to the dowry paid at the time of the wedding, but to additional payments demanded by the groom's family after the marriage. The additional dowry is often paid to stop the husband from systematically beating the wife. Bloch and Rao base their case study of three villages in southern India on qualitative and survey data. Based on the ethnographic evidence, they develop a noncooper-ative bargaining and signaling model of dowries and domestic violence. They test the predictions from those models on survey data. They find that women whose families pay smaller dowries suffer increased risk of marital violence. So do women who come from richer families (from whom resources can more easily be extracted). Larger dowries - as well as greater satisfaction with the marriage (in the form of more male children) - reduce the probability of violence. In India marriage is almost never a matter of choice for women, but is driven almost entirely by social norms and parental preferences. Providing opportunities for women outside of marriage and the marriage market would significantly improve their well-being by allowing them to leave an abusive husband, or find a way of bribing him to stop the abuse, or present a credible threat, which has the same effect. This paper - a product of Poverty and Human Resources, Development Research Group - is part of a larger effort in the group to examine crime and violence in developing countries. Vijayendra Rao may be contacted at vraoworldbank.org
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    Pollution Charges, Community Pressure, and Abatement Cost of Industrial Pollution in China (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (32 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Wang, Hua Pollution Charges, Community Pressure, and Abatement Cost of Industrial Pollution in China
    Keywords: Abatement ; Brown Issues and Health ; Demand ; Empirical Analysis ; Empirical Studies ; Environment ; Environmental ; Environmental Economics and Policies ; Environmental Protection ; Environmental Sciences ; Green Issues ; Incentives ; Industrial Water ; Industry ; Marginal Abatement ; Pollution ; Pollution Abatement ; Pollution Charges ; Pollution Control ; Pollution Discharge ; Prices ; Public Sector Development ; Regulation ; Standards ; Water ; Water Pollution ; Water Resources ; Water and Industry ; Abatement ; Brown Issues and Health ; Demand ; Empirical Analysis ; Empirical Studies ; Environment ; Environmental ; Environmental Economics and Policies ; Environmental Protection ; Environmental Sciences ; Green Issues ; Incentives ; Industrial Water ; Industry ; Marginal Abatement ; Pollution ; Pollution Abatement ; Pollution Charges ; Pollution Control ; Pollution Discharge ; Prices ; Public Sector Development ; Regulation ; Standards ; Water ; Water Pollution ; Water Resources ; Water and Industry
    Abstract: May 2000 - Community pressure may be as strong an incentive for industrial firms to control pollution in China as pollution levies are. Wang evaluates the strength of the effect that community pressure and pollution charges have on industrial pollution control in China and estimates the marginal cost of pollution abatement. He examines a well-documented set of plant-level data, combined with community-level data, to assess the impact of pollution charges and community pressure on industrial behavior in China. He constructs and estimates an industrial organic water pollution discharge model for plants that violate standards for pollution discharge, pay pollution charges, and are constantly under community pressure to further abate pollution. He creates a model and estimates implicit prices for pollution discharges from community pressure, which are determined jointly by the explicit price, the pollution levy. He finds that the implicit discharge price is at least as high as the explicit price. In other words, community pressure not only exists but may be as strong an incentive as the pollution charge is for industrial firms to control pollution in China. Wang's modeling approach also provides a way to estimate the marginal cost of pollution abatement. The empirical results show that the current marginal cost of abatement is about twice the effective charge rate in China. This paper - a product of Infrastructure and Environment, Development Research Group - is part of a larger effort in the group to study environmental regulation in developing countries. The author may be contacted at hwang1worldbank.org
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    Greed and Grievance in Civil War (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (50 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Collier, Paul Greed and Grievance in Civil War
    Keywords: Civil War ; Conflict ; Conflict and Development ; Conflicts ; Crime ; Diasporas ; Economic Theory Of Rebellion ; Ethnic Majority ; Extortion ; Greed-Rebellion ; Grievance Model ; Grievance Models ; Health, Nutrition and Population ; Peace and Peacekeeping ; Political Analysis ; Population Policies ; Post Conflict Reconstruction ; Predatory Rebellion ; Protest Movement ; Protest Movements ; Rebel Movements ; Rebel Organization ; Rebel Organizations ; Rebellion ; Rebellions ; Social Conflict and Violence ; Social Development ; Civil War ; Conflict ; Conflict and Development ; Conflicts ; Crime ; Diasporas ; Economic Theory Of Rebellion ; Ethnic Majority ; Extortion ; Greed-Rebellion ; Grievance Model ; Grievance Models ; Health, Nutrition and Population ; Peace and Peacekeeping ; Political Analysis ; Population Policies ; Post Conflict Reconstruction ; Predatory Rebellion ; Protest Movement ; Protest Movements ; Rebel Movements ; Rebel Organization ; Rebel Organizations ; Rebellion ; Rebellions ; Social Conflict and Violence ; Social Development
    Abstract: May 2000 - Of the 27 major armed conflicts that occurred in 1999, all but two took place within national boundaries. As an impediment to development, internal rebellion especially hurts the world's poorest countries. What motivates civil wars? Greed or grievance? Collier and Hoeffler compare two contrasting motivations for rebellion: greed and grievance. Most rebellions are ostensibly in pursuit of a cause, supported by a narrative of grievance. But since grievance assuagement through rebellion is a public good that a government will not supply, economists predict such rebellions would be rare. Empirically, many rebellions appear to be linked to the capture of resources (such as diamonds in Angola and Sierra Leone, drugs in Colombia, and timber in Cambodia). Collier and Hoeffler set up a simple rational choice model of greed-rebellion and contrast its predictions with those of a simple grievance model. Some countries return to conflict repeatedly. Are they conflict-prone or is there a feedback effect whereby conflict generates grievance, which in turn generates further conflict? The authors show why such a feedback effect might be present in both greed-motivated and grievance rebellions. The authors' results contrast with conventional beliefs about the causes of conflict. A stylized version of conventional beliefs would be that grievance begets conflict, which begets grievance, which begets further conflict. With such a model, the only point at which to intervene is to reduce the level of objective grievance. Collier and Hoeffler's model suggests that what actually happens is that opportunities for predation (controlling primary commodity exports) cause conflict and the grievances this generates induce dias-poras to finance further conflict. The point of policy intervention here is to reduce the absolute and relative attraction of primary commodity predation and to reduce the ability of diasporas to fund rebel movements. This paper - a product of the Development Research Group - is part of a larger effort in the group to study civil war and criminal violence. For more on this effort, go to www.worldbank.org/research/conflict. Paul Collier may be contacted at pcollierworldbank.org
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    Reducing Carbon Dioxide Emissions through Joint Implementation of Projects (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (32 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Martin, Will Reducing Carbon Dioxide Emissions through Joint Implementation of Projects
    Keywords: Abatement Options ; Activities ; Approach ; Carbon Dioxide ; Carbon Dioxide Emissions ; Carbon Emissions ; Carbon Policy and Trading ; Certified Project Activity ; Emission ; Emission Reduction ; Energy ; Energy ; Energy Production and Transportation ; Energy Products ; Energy Sources ; Energy Use ; Energy and Environment ; Environment ; Environment and Energy Efficiency ; Fuel ; Fuels ; Global Greenhouse Gas ; Global Greenhouse Gas Emissions ; Greenhouse Gases ; Macroeconomics and Economic Growth ; Markets and Market Access ; Price ; Prices ; Public Sector Development ; Transport ; Transport and Environment ; Abatement Options ; Activities ; Approach ; Carbon Dioxide ; Carbon Dioxide Emissions ; Carbon Emissions ; Carbon Policy and Trading ; Certified Project Activity ; Emission ; Emission Reduction ; Energy ; Energy ; Energy Production and Transportation ; Energy Products ; Energy Sources ; Energy Use ; Energy and Environment ; Environment ; Environment and Energy Efficiency ; Fuel ; Fuels ; Global Greenhouse Gas ; Global Greenhouse Gas Emissions ; Greenhouse Gases ; Macroeconomics and Economic Growth ; Markets and Market Access ; Price ; Prices ; Public Sector Development ; Transport ; Transport and Environment
    Abstract: June 2000 - Most proposals for joint implementation of energy projects emphasize installing more technically efficient capital equipment to allow reduced energy use for any given mix of input and output. But increases in energy efficiency are likely to have second-round effects. Reducing energy demand, for example, will reduce the market price of energy and stimulate energy use, partially offsetting the initial reduction in demand. These effects are likely to be substantially larger in the long run, reducing the magnitude of these offsets. Efficient reduction of carbon dioxide emissions requires coordination of international efforts. Approaches proposed include carbon taxes, emission quotas, and jointly implemented energy projects. To reduce emissions efficiently requires equalizing the marginal costs of reduction between countries. The apparently large differentials between the costs of reducing emissions in industrial and developing countries implies a great potential for lowering the costs of reducing emissions by focusing on projects in developing countries. Most proposals for joint implementation of energy projects emphasize installing more technically efficient capital equipment, to allow reductions in energy use for any given mix of input and output. But such increases in efficiency are likely to have potentially important second-round impacts: · Lowering the relative effective price of specific energy products. · Lowering the price of energy relative to other inputs. · Lowering the price of energy-intensive products relative to other products. Martin explores the consequences of these second-round impacts and suggests ways to deal with them in practical joint-implementation projects. For example, the direct impact of reducing the effective price of a fuel is to increase consumption of that fuel. Generally, substitution effects also reduce the use of other fuels, and the emissions generated from them. If the fuel whose efficiency is being improved is already the least emission-intensive, the combined impact of these price effects is most likely to be favorable. If the fuel whose efficiency is being improved is initially the most emission-intensive, the combined impact of these price changes is less likely to be favorable and may even increase emissions. In the example Martin uses, increase in coal use efficiency was completely ineffective in reducing emissions because it resulted in emission-intensive coal being substituted for less polluting oil and gas. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to understand key links between trade and the environment. The author may be contacted at wmartin1worldbank.org
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    Would Collective Action Clauses Raise Borrowing Costs? : An Update and Additional Results (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (22 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Eichengreen, Barry Would Collective Action Clauses Raise Borrowing Costs?
    Keywords: Borrowers ; Borrowing Costs ; Collective Action ; Collective Action Clauses ; Credit Ratings ; Crisis Country ; Debt ; Debt Markets ; Debt Restructuring ; Emerging Markets ; Emerging Markets ; Equity ; Finance and Financial Sector Development ; Financial Literacy ; Financial Markets ; Financial Support ; Foreign Investors ; Holding ; International Financial Institutions ; International Financial System ; Investors ; Lenders ; Lending ; Moral Hazard ; Private Sector Development ; Borrowers ; Borrowing Costs ; Collective Action ; Collective Action Clauses ; Credit Ratings ; Crisis Country ; Debt ; Debt Markets ; Debt Restructuring ; Emerging Markets ; Emerging Markets ; Equity ; Finance and Financial Sector Development ; Financial Literacy ; Financial Markets ; Financial Support ; Foreign Investors ; Holding ; International Financial Institutions ; International Financial System ; Investors ; Lenders ; Lending ; Moral Hazard ; Private Sector Development
    Abstract: June 2000 - Collective action clauses raise borrowing costs for low-rated borrowers and lower them for high-rated borrowers. This result holds for all developing country bonds and also for the subset of sovereign bond issuers. It is easy to say that the International Monetary Fund should not resort to financial rescue for countries in crisis; this is hard to do when there is no alternative. That is where collective action clauses come in. Collective action clauses are designed to facilitate debt restructuring by the principals - borrowers and lenders - with minimal intervention by international financial institutions. Despite much discussion of this option, there has been little action. Issuers of bonds fear that collective action clauses would raise borrowing costs. Eichengreen and Mody update earlier findings about the impact of collective action clauses on borrowing costs. It has been argued that only in the past year or so have investors focused on the presence of these provisions and that, given the international financial institutions' newfound resolve to bail in investors, they now regard these clauses with trepidation. Extending their data to 1999, Eichengreen and Mody find no evidence of such changes but rather the same pattern as before: Collective action clauses raise the costs of borrowing for low-rated issuers but reduce them for issuers with good credit ratings. Their results hold both for the full set of bonds and for bonds issued only by sovereigns. They argue that these results should reassure those who regard collective action clauses as an important element in the campaign to strengthen international financial architecture. This paper - a product of the Development Prospects Group - is part of a larger effort in the group to analyze international capital flows. The study was funded by the Bank's Research Support Budget under the research project Pricing of Bonds and Bank Loans in the Market for Developing Country Debt. The authors may be contacted at eichengrecon.berkeley.edu or amody@worldbank.org
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  • 81
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    Reciprocity across Modes of Supply in the World Trade Organization : A Negotiating Formula (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (24 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Mattoo, Aaditya Reciprocity across Modes of Supply in the World Trade Organization
    Keywords: Agreement On Trade ; Border Trade ; Comparative Advantage ; Concessions ; Economic Theory and Research ; Emerging Markets ; Foreign Labor ; Foreign Markets ; Free Trade ; International Economics & Trade ; International Trade and Trade Rules ; Macroeconomics and Economic Growth ; Market Access ; Private Sector Development ; Public Sector Development ; Reciprocal Reduction ; Reciprocity ; Tariff ; Tariff Reduction ; Terms Of Trade ; Terms Of Trade Effects ; Trade Effect ; Trade Negotiations ; Trade Policy ; Trade Policy ; Trade and Services ; Volume Of Trade ; Welfare Gains ; World Trade ; World Trade Organization ; Agreement On Trade ; Border Trade ; Comparative Advantage ; Concessions ; Economic Theory and Research ; Emerging Markets ; Foreign Labor ; Foreign Markets ; Free Trade ; International Economics & Trade ; International Trade and Trade Rules ; Macroeconomics and Economic Growth ; Market Access ; Private Sector Development ; Public Sector Development ; Reciprocal Reduction ; Reciprocity ; Tariff ; Tariff Reduction ; Terms Of Trade ; Terms Of Trade Effects ; Trade Effect ; Trade Negotiations ; Trade Policy ; Trade Policy ; Trade and Services ; Volume Of Trade ; Welfare Gains ; World Trade ; World Trade Organization
    Abstract: June 2000 - If negotiations on trade in services at the World Trade Organization are to advance liberalization beyond levels undertaken unilaterally and lead to more balanced outcomes, reciprocity must play a greater role in negotiations. This may be facilitated by the use of negotiating rules that establish credible links across sectors and modes of delivery. Negotiations on trade in services at the World Trade Organization (WTO) have so far produced little liberalization beyond levels countries have undertaken unilaterally. One reason: limited application of the traditional negotiating principle of reciprocity. In particular, participants have failed to exploit the scope of the services agreement (GATS) for the exchange of market-access concessions across different modes of supply - cross-border delivery and the movement of capital and workers. Using the Heckscher-Ohlin-Vanek framework, Mattoo and Olarreaga propose a negotiating formula that generalizes the fundamental WTO principle of reciprocity to include alternative modes of delivery. Adoption of this formula as a basis for negotiations could bring greater commitments to liberalization on all modes of delivery, producing substantial gains in global welfare and more balanced outcomes. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to improve trade policy in goods and services. The authors may be contacted at amattooworldbank.org or molarreaga@worldbank.org
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  • 82
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    Trade Policies for Electronic Commerce (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (32 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Mattoo, Aaditya Trade Policies for Electronic Commerce
    Keywords: Commodities ; Cross-Border Trade ; Customs ; Customs Duties ; Debt Markets ; E-Business ; Economic Theory and Research ; Electronic Commerce ; Emerging Markets ; European Union ; Finance and Financial Sector Development ; Financial Services ; Free Trade ; Free Trade ; Importing Country ; International Economics & Trade ; International Trade ; Law and Development ; Macroeconomics and Economic Growth ; Market Access ; National Treatment ; Preferential Trading Arrangements ; Preferential Treatment ; Private Sector Development ; Public Sector Development ; Recourse ; Tariff Reductions ; Trade ; Trade Diversion ; Trade Law ; Trade Policies ; Trade Policy ; Trade Regime ; Trade and Services ; Transport ; Transport and Trade Logistics ; World Trade Organization ; Commodities ; Cross-Border Trade ; Customs ; Customs Duties ; Debt Markets ; E-Business ; Economic Theory and Research ; Electronic Commerce ; Emerging Markets ; European Union ; Finance and Financial Sector Development ; Financial Services ; Free Trade ; Free Trade ; Importing Country ; International Economics & Trade ; International Trade ; Law and Development ; Macroeconomics and Economic Growth ; Market Access ; National Treatment ; Preferential Trading Arrangements ; Preferential Treatment ; Private Sector Development ; Public Sector Development ; Recourse ; Tariff Reductions ; Trade ; Trade Diversion ; Trade Law ; Trade Policies ; Trade Policy ; Trade Regime ; Trade and Services ; Transport ; Transport and Trade Logistics ; World Trade Organization
    Abstract: June 2000 - Members of the World Trade Organization have decided provisionally to exempt electronic delivery of products from customs duties. There is growing support for the decision to be made permanent. Is this desirable? Some countries in the World Trade Organization initially opposed WTO's decision to exempt electronic delivery of products from customs duties, out of concern for the revenue consequences. Others supported the decision as a means of securing open trading conditions. Mattoo and Schuknecht argue that neither the inhibitions nor the enthusiasm are fully justified. First, even if all delivery of digitizable media products moved online - an unlikely prospect - the revenue loss for most countries would be small. More important, however, the prohibition of customs duties does not ensure continued open access for electronically delivered products and may even prompt recourse to inferior instruments of protection. Barrier-free electronic commerce would be more effectively secured by deepening and widening the limited cross-border trade commitments under the General Agreement on Trade in Services (GATS) and by clarifying and strengthening certain GATS disciplines. This paper-a product of Trade, Development Research Group-is part of a larger effort in the group to improve trade policy for goods and services. It is part of a larger project on trade in services supported in part by the United Kingdom's Department for International Development. Aaditya Mattoo may be contacted at amattooworldbank.org
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  • 83
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    Vietnam : On the Road to Labor-Intensive Growth? (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (40 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Belser, Patrick Vietnam
    Keywords: Economic Theory and Research ; Emerging Markets ; Employment ; Employment Growth ; Finance and Financial Sector Development ; Financial Literacy ; Household Survey ; Human Resources ; International Economics & Trade ; Jobs ; Labor ; Labor Market ; Labor Market Reforms ; Labor Markets ; Labor Policies ; Labor Productivity ; Labor Regulations ; Labor-Intensive Growth ; Macroeconomics and Economic Growth ; Minimum Wages ; Private Companies ; Private Sector ; Private Sector Development ; Productivity Gap ; Productivity Growth ; Public Sector Development ; Social Protections and Labor ; Total Employment ; Total Labor Force ; Trade Policy ; Worker ; Workers ; Economic Theory and Research ; Emerging Markets ; Employment ; Employment Growth ; Finance and Financial Sector Development ; Financial Literacy ; Household Survey ; Human Resources ; International Economics & Trade ; Jobs ; Labor ; Labor Market ; Labor Market Reforms ; Labor Markets ; Labor Policies ; Labor Productivity ; Labor Regulations ; Labor-Intensive Growth ; Macroeconomics and Economic Growth ; Minimum Wages ; Private Companies ; Private Sector ; Private Sector Development ; Productivity Gap ; Productivity Growth ; Public Sector Development ; Social Protections and Labor ; Total Employment ; Total Labor Force ; Trade Policy ; Worker ; Workers
    Abstract: July 2000 - Between 1993 and 1997, Vietnam was one of the fastest growing economies, with GDP increasing almost 9 percent a year and the industrial sector expanding roughly 13 percent a year. But did employment also grow at a fast pace? And is Vietnam due for labor-intensive growth? Since Vietnam's adoption of the doi moi or renovation policy in 1986, the country has been undergoing the transition from central planning to a socialist market-oriented economy. This has translated into strong economic growth, led by the industrial sector, which expanded more than 13 percent a year from 1993 to 1997. Vietnamese policymakers are concerned, however, that employment growth has lagged. To address this concern, Belser compares new employment data from the Vietnam Living Standards Survey (VLSS 2), completed in 1997-98, with data from the first household survey undertaken in 1992-93. He shows that in 1993-97, industrial employment grew an average of about 4 percent a year, which is low compared with industrial GDP growth. This slower growth was attributable to the capital-intensive, import-substituting nature of the state sector and foreign investment, which dominate industry. The more labor-intensive, export-oriented domestic private sector is still small, although growing quickly. In the future, growth promises to become more labor-intensive. Before the Asian crisis there were signs of an emerging export-oriented sector. Using previous statistical analysis (Wood and Mayer 1998) as well as factor content calculations, Belser estimates that given Vietnam's endowment of natural and human resources, Vietnam could triple its manufacturing exports and create about 1.6 million manufacturing jobs in export sectors in the near future. After examining Vietnam's labor regulations, Belser concludes that there is no need for basic reform of the labor market. At current levels, minimum wages and nonwage regulations (even if better enforced) are unlikely to inhibit development of the private sector or hurt export competitiveness. But a restrictive interpretation of the Labor Code's provisions on terminating employment could hurt foreign investment, reduce the speed of reform in the state sector, and slow the reallocation of resources to the domestic private sector. This paper - a product of the Vietnam Country Office, East Asia and Pacific Region - was prepared as a background paper for the Vietnam Development Report 2000, Vietnam: Attacking Poverty, a joint report of the Government of Vietnam-Donor-NGO Poverty Working Group. The author may be contacted at pbelserworldbank.org
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  • 84
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    Tax Evasion, Corruption, and the Remuneration of Heterogeneous Inspectors (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (42 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Waly, Waly Tax Evasion, Corruption, and the Remuneration of Heterogeneous Inspectors
    Keywords: Bank ; Corruption ; Debt Markets ; Discretion ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Income Tax ; Insurance and Risk Mitigation ; Law and Development ; Macroeconomics and Economic Growth ; Poverty Impact Evaluation ; Poverty Reduction ; Private Sector Development ; Public Sector Corruption and Anticorruption Measures ; Strategy ; Tax ; Tax Administration ; Tax Base ; Tax Collection ; Tax Compliance ; Tax Enforcement ; Tax Evasion ; Tax Law ; Tax Liabilities ; Tax Liability ; Tax Policies ; Tax Receipts ; Tax Revenue ; Tax Revenues ; Taxation and Subsidies ; Taxes ; Taxpayers ; Bank ; Corruption ; Debt Markets ; Discretion ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Income Tax ; Insurance and Risk Mitigation ; Law and Development ; Macroeconomics and Economic Growth ; Poverty Impact Evaluation ; Poverty Reduction ; Private Sector Development ; Public Sector Corruption and Anticorruption Measures ; Strategy ; Tax ; Tax Administration ; Tax Base ; Tax Collection ; Tax Compliance ; Tax Enforcement ; Tax Evasion ; Tax Law ; Tax Liabilities ; Tax Liability ; Tax Policies ; Tax Receipts ; Tax Revenue ; Tax Revenues ; Taxation and Subsidies ; Taxes ; Taxpayers
    Abstract: July 2000 - Wane develops a general model for addressing the question of how to compensate tax inspectors in an economy where corruption is pervasive-a model that considers the existence of strategic transmission of information. Most of the literature on corruption assumes that the taxpayer and the tax inspector jointly decide on the income to report, which also determines the size of the bribe. In contrast, Wane's model considers the more realistic case in which the taxpayer unilaterally chooses the income to report. The tax inspector cannot change the report and is faced with a binary choice: either he negotiates the bribe on the basis of the income report or he denounces the tax evader and therefore renounces the bribe. In his model, the optimal compensation scheme must take into account the strategic interaction between taxpayers and tax inspectors: · Pure tax farming (paying tax inspectors a share of their tax collections) is optimal only when all tax inspectors are corruptible. · When there are both honest and corruptible inspectors, the optimal compensation scheme lies between pure tax farming and a pure wage scheme. · Paradoxically, when inspectors are hired beforehand, it may be optimal to offer contracts that attract corruptible inspectors but not honest ones. This paper-a product of Public Economics, Development Research Group-is part of a larger effort in the group to understand how the existence of corruption affects the remuneration schemes tax administrations should offer their inspectors
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  • 85
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    Determinants of Current Account Deficits in Developing Countries (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (44 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Loayza, Norman Determinants of Current Account Deficits in Developing Countries
    Keywords: Buffer ; Business Cycle ; Central Bank ; Consumption ; Cross-Country Studies ; Currencies and Exchange Rates ; Current Account ; Current Account Balance ; Current Account Defic Current Account Deficits ; Current Account Position ; Debt Markets ; Demand ; Economy ; Emerging Markets ; Explanatory Variables ; External Debt ; Finance and Financial Sector Development ; Financial Literacy ; Interest Rates ; International Economics ; International Economics & Trade ; Macroeconomic Management ; Macroeconomic Variables ; Macroeconomics and Economic Growth ; National Income ; Private Saving ; Private Sector Development ; Surplus ; World Economy ; Buffer ; Business Cycle ; Central Bank ; Consumption ; Cross-Country Studies ; Currencies and Exchange Rates ; Current Account ; Current Account Balance ; Current Account Defic Current Account Deficits ; Current Account Position ; Debt Markets ; Demand ; Economy ; Emerging Markets ; Explanatory Variables ; External Debt ; Finance and Financial Sector Development ; Financial Literacy ; Interest Rates ; International Economics ; International Economics & Trade ; Macroeconomic Management ; Macroeconomic Variables ; Macroeconomics and Economic Growth ; National Income ; Private Saving ; Private Sector Development ; Surplus ; World Economy
    Abstract: July 2000 - In developing countries, increases in current account deficits tend to be associated with a rise in domestic output growth and shocks that increase the terms of trade and cause the real exchange rate to appreciate. Higher savings rates, higher growth rates in industrial economies, and higher international interest rates tend to have the opposite effect. Calderón, Chong, and Loayza examine the empirical links between current account deficits and a broad set of economic variables proposed in the literature. To accomplish this, they complement and extend previous research by using a large, consistent set of macroeconomic data on public and private domestic savings, external savings, and national income variables; focusing on developing economies by drawing on a panel data set for 44 developing countries and annual information for the period 1966-95; adopting a reduced-form approach rather than holding to a particular structural model; distinguishing between within-country and cross-country effects; and employing a class of estimators that controls for the problems of simultaneity and reverse causation. Among their findings: · Current account deficits in developing countries are moderately persistent. · A rise in domestic output growth generates a larger current account deficit. · Increases in savings rates have a positive effect on the current account. · Shocks that increase the terms of trade or cause the real exchange rate to appreciate are linked with higher current account deficits. · Either higher growth rates in industrial economies or higher international interest rates reduce the current account deficit in developing economies. This paper-a product of the Regional Studies Program, Latin America and the Caribbean Region-is part of an effort in the region to understand the determinants of external sustainability. The authors may be contacted at crcntroi.cc.rochester.edu, achong@worldbank.org, or nloayza@condor.bcentral.cl
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  • 86
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    The Long and Winding Path to Private Financing and Regulation of Toll Roads (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (54 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Estache, Antonio The Long and Winding Path to Private Financing and Regulation of Toll Roads
    Keywords: Arterial Roads ; Costs ; Demand For Road Transport ; Freight ; Highway ; Highway Systems ; Investments ; Piers ; Rail ; Road ; Road Projects ; Road Sector ; Road Transport ; Toll ; Toll Road ; Toll Roads ; Traffic ; Transport ; Transport Activities ; Transport Economics, Policy and Planning ; Urban Roads ; Vehicles ; Arterial Roads ; Costs ; Demand For Road Transport ; Freight ; Highway ; Highway Systems ; Investments ; Piers ; Rail ; Road ; Road Projects ; Road Sector ; Road Transport ; Toll ; Toll Road ; Toll Roads ; Traffic ; Transport ; Transport Activities ; Transport Economics, Policy and Planning ; Urban Roads ; Vehicles
    Abstract: July 2000 - This guide to the issues at stake when toll roads are privatized answers many questions that privatization teams and regulators should be asking-providing useful information to project specialists, many of whom are now learning how much they did not know when they started. Road transport has long been the dominant form of transport for freight and passenger movement throughout the world. Because most road projects require investments with long amortization periods and because many projects do not generate enough demand to become self-financing through some type of user fee or toll, the road sector remains in the hands of the public sector to a much greater extent than other transport activities. But governments throughout the world, including those of many poor African and South Asian countries, are commercializing their operations to cut costs, improve user orientation, and increase sector-specific revenue. There seems to be demand for toll roads in specific settings, but the problems met by many of this first generation of road concessions-from Mexico to Thailand-have given toll projects a bad reputation. Many mistakes were made, and tolling is obviously not the best solution for every road. Most of the alternatives aim at improving efficiency (lowering costs). But there are many ways of getting the private sector involved in toll roads, thus reducing public sector financing requirements for the sector. Understanding the context in which toll roads are viable is essential both for their initial success and for effective long-run regulation. Estache, Romero, and Strong provide a broad overview of issues at stake from the viewpoint of both privatization teams and regulators responsible for supervising contractual commitments of private operators and the government, to each other and to users. This paper-a product of Governance, Regulation, and Finance, World Bank Institute-is part of a larger effort in the institute to increase understanding of infrastructure regulation. The authors may be contacted at aestacheworldbank.org or jstrong@worldbank.org
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  • 87
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    Aid Dependence and the Quality of Governance : A Cross-Country Empirical Analysis (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (44 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Knack, Stephen Aid Dependence and the Quality of Governance
    Keywords: Accountability ; Aid Dependence ; Bureaucracy ; Bureaucratic Quality ; Corruption ; Country Data ; Development Economics and Aid Effectiveness ; Disability ; Economic Growth ; Economic Theory and Research ; Education ; Emerging Markets ; Foreign Aid ; Gender ; Gender and Health ; Good Governance ; Governance ; Governance ; Governance Indicators ; Growth ; Health, Nutrition and Population ; Income ; Income Growth ; Institutional Quality ; Institutions ; Macroeconomics and Economic Growth ; National Governance ; Natural Resources ; Per Capita Incomes ; Policy Implications ; Private Sector Development ; Public Sector Corruption and Anticorruption Measures ; Reverse Causality ; Rule Of Law ; School Health ; Social Protections and Labor ; Accountability ; Aid Dependence ; Bureaucracy ; Bureaucratic Quality ; Corruption ; Country Data ; Development Economics and Aid Effectiveness ; Disability ; Economic Growth ; Economic Theory and Research ; Education ; Emerging Markets ; Foreign Aid ; Gender ; Gender and Health ; Good Governance ; Governance ; Governance ; Governance Indicators ; Growth ; Health, Nutrition and Population ; Income ; Income Growth ; Institutional Quality ; Institutions ; Macroeconomics and Economic Growth ; National Governance ; Natural Resources ; Per Capita Incomes ; Policy Implications ; Private Sector Development ; Public Sector Corruption and Anticorruption Measures ; Reverse Causality ; Rule Of Law ; School Health ; Social Protections and Labor
    Abstract: July 2000 - Do higher levels of aid erode the very quality of governance poor countries need for sustained and rapid income growth? Good governance-in the form of institutions that establish predictable, impartial, and consistently enforced rules for investors-is crucial for the sustained and rapid growth of per capita incomes in poor countries. Aid dependence can undermine institutional quality by weakening accountability, encouraging rent seeking and corruption, fomenting conflict over control of aid funds, siphoning off scarce talent from the bureaucracy, and alleviating pressures to reform inefficient policies and institutions. Knack's analyses of cross-country data provide evidence that higher aid levels erode the quality of governance, as measured by indexes of bureaucratic quality, corruption, and the rule of law. This negative relationship strengthens when instruments for aid are used to correct for potential reverse causality. It is robust to changes in the sample and to several alternative forms of estimation. Recent studies have concluded that aid's impact on economic growth and infant mortality is conditional on policy and institutional gaps. Knack's results indicate that the size of the institutional gap itself increases with aid levels. This paper-a product of Regulation and Competition Policy, Development Research Group-is part of a larger effort in the group to identify the determinants of good governance and institutions conducive to long-run economic development. The author may be contacted at sknackworldbank.org
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  • 88
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    The Distribution of Mexico's Public Spending on Education (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (20 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Salinas, Angel The Distribution of Mexico's Public Spending on Education
    Keywords: Access and Equity in Basic Education ; Cred Earnings ; Debt Markets ; Education ; Education ; Education for All ; Effective Schools and Teachers ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Financial Sector ; Gender ; Gender and Education ; Health, Nutrition and Population ; Household Expenditure ; Income ; Income Groups ; Information ; Investments ; Level Of Education ; Loan Programs ; Population Policies ; Primary Education ; Primary Education ; Public Expenditures ; Public Sector Expenditure Analysis and Management ; Spending ; Student ; Student Loan ; Students ; Subsidies ; Subsidy ; Tertiary Education ; Access and Equity in Basic Education ; Cred Earnings ; Debt Markets ; Education ; Education ; Education for All ; Effective Schools and Teachers ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Financial Sector ; Gender ; Gender and Education ; Health, Nutrition and Population ; Household Expenditure ; Income ; Income Groups ; Information ; Investments ; Level Of Education ; Loan Programs ; Population Policies ; Primary Education ; Primary Education ; Public Expenditures ; Public Sector Expenditure Analysis and Management ; Spending ; Student ; Student Loan ; Students ; Subsidies ; Subsidy ; Tertiary Education
    Abstract: July 2000 - Public spending on tertiary education in Mexico is strongly regressive, benefiting mainly the nonpoor in urban areas. To give the poor a chance at higher education, student loan programs or means-tested financial aid and scholarship programs (though rarely devoid of subsidy) are preferable to free education services, because loan and aid programs target the students who suffer from the financial market's failure to provide long-term loans for higher education. Research shows that education has played a crucial role in raising levels of earnings and that returns to education in Mexico have increased, particularly in higher education and in the upper tail of the conditional earnings distribution. Lopez-Acevedo and Salinas examine patterns of public spending on education in the face of further increases in earnings inequality. They analyze the incidence of benefits using two sets of data: data on unit costs per student by state and by education level, and data from surveys on household income and spending. Among their findings: · Nationally, the poorest income groups get most of the national and state subsidy for primary education. At higher education levels the poor get progressively smaller subsidies. · For all Mexico, government spending on primary education is very progressive. In lower secondary education it is neutral. And in upper secondary education it benefits mainly the middle and upper classes. Tertiary education is strongly regressive, benefiting mainly the richest deciles and mainly in urban areas. · But those government patterns vary by region. In the central region average total spending is more uniformly distributed than the national pattern. In the northern region the subsidy is progressive. Primary education is neutral and higher levels of instruction are moderately regressive. In the central region primary schooling is very progressive, while lower secondary schooling is almost neutral. Upper secondary and tertiary instruction strongly benefit the richest income deciles. In the southern region basic (primary and lower secondary) education is very progressive, upper secondary education is neutral, and tertiary education is highly regressive. In Mexico City all levels of education except primary are strongly regressive. Lopez-Acevedo and Salinas show that public spending at the tertiary level is more regressive than household spending. So much of public spending on tertiary education favors nonpoor families in urban areas that to reallocate the spending so that poor students have a chance to participate would require developing credit markets for higher education. The government's role should be to help overcome market failures in the financial sector, which limit the availability of long-term financing for higher education. These failures can be corrected through student loan programs or means-tested financial aid and scholarship programs. Such programs are rarely devoid of subsidy but are preferable to the direct, cost-free provision of services because the subsidy is targeted more closely to the source of market failure. This paper-a product of the Economic Policy Sector Unit and Mexico Country Office, Latin America and the Caribbean Region-is part of a strategy to reduce poverty and inequality in Mexico. The study was part of the research project Earnings Inequality after Mexico's Economic Reforms. The authors may be contacted at gacevedoworldbank.org or asalinas@worldbank.org
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  • 89
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    State Policies and Women’s Autonomy in China, India, and the Republic of Korea, 1950–2000 : Lessons from Contrasting Experiences (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (40 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Gupta, Das Monica State Policies and Women’s Autonomy in China, India, and the Republic of Korea, 1950–2000
    Keywords: Anthropology ; Child Mortality ; Communication Efforts ; Cultural Values ; Culture & Development ; Development Strategies ; Gender ; Gender Equity ; Gender Policy ; Gender Roles ; Gender and Development ; Gender and Health ; Gender and Law ; Health Monitoring and Evaluation ; Health, Nutrition and Population ; Impact Of Policies ; Inheritance ; Integration Of Women ; Kinship ; Law and Development ; Opportunities For Women ; Policy Research ; Population ; Population Association ; Population Policies ; Population and Development ; Public Life ; Rural Development Knowledge and Information Systems ; Social Development ; State Policies ; Urbanization ; Women ; Anthropology ; Child Mortality ; Communication Efforts ; Cultural Values ; Culture & Development ; Development Strategies ; Gender ; Gender Equity ; Gender Policy ; Gender Roles ; Gender and Development ; Gender and Health ; Gender and Law ; Health Monitoring and Evaluation ; Health, Nutrition and Population ; Impact Of Policies ; Inheritance ; Integration Of Women ; Kinship ; Law and Development ; Opportunities For Women ; Policy Research ; Population ; Population Association ; Population Policies ; Population and Development ; Public Life ; Rural Development Knowledge and Information Systems ; Social Development ; State Policies ; Urbanization ; Women
    Abstract: November 2000 - State policies can enormously influence gender equity. They can mitigate cultural constraints on women’s autonomy (as in China and India) or slow the pace of change in gender equity (as in the Republic of Korea). Policies to provide opportunities for women’s empowerment should be accompanied by communication efforts to alter cultural values that limit women’s access to those opportunities. Das Gupta, Lee, Uberoi, Wang, Wang, and Zhang compare changes in gender roles and women’s empowerment in China, India, and the Republic of Korea. Around 1950, these newly formed states were largely poor and agrarian, with common cultural factors that placed similar severe constraints on women’s autonomy. They adopted very different paths of development, which are well known to have profoundly affected development outcomes. These choices have also had a tremendous impact on gender outcomes, and today these countries show striking differences in the extent of gender equity achieved. China has achieved the most gender equity, the Republic of Korea the least. The authors conclude that: States can exert enormous influence over gender equity. They can mitigate cultural constraints on women’s autonomy (as in China and India) or slow the pace of change in gender equity despite women’s rapid integration into education, formal employment, and urbanization (as in the Republic of Korea). The impact of policies to provide opportunities for women’s empowerment can be greatly enhanced if accompanied by communication efforts to alter cultural values that place heavy constraints on women’s access to those opportunities. This paper—a product of Poverty and Human Resources, Development Research Group—is part of a larger effort in the group to examine the institutional bases of social inclusion and poverty reduction. Monica Das Gupta may be contacted at mdasguptaworldbank.org
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  • 90
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    Remarks at the Bretton Woods Committee Annual Meeting (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Series Statement: World Bank E-Library Archive
    Abstract: James D. Wolfensohn, President of the World Bank Group, discussed the Bank's focus on the social sector. Since the realignment of the focus of the Bank after the initial objectives of the Bretton Woods agreements for the reconstruction after World War II were met, the more recent and continuing focus has been on development and on the issues of poverty and the issues of sustainable development. On the Bank's agenda are: first, good governance; second, the legal and justice system; third, an effective supervisory mechanism for banks and capital markets; and finally, a social safety net to deal with the impact of financial crises upon the poor
    DOI: 10.1596/26171
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    MPI Ethno. Forsch.
  • 91
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    Keynote Address on Preserving the Architecture of Historic Cities and Sacred Places (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Series Statement: World Bank E-Library Archive
    Abstract: James D. Wolfensohn, President of the World Bank Group, discussed the importance of preserving culture, cities and architecture, and sacred sites. The international system has to be built on structure, on governance, on justice, on legal systems, on social systems, but it also has to be built on history and culture. You do not have to have a dollar sign on something for it to be valuable or for it to be essential. You cannot have an international financial architecture built on sand. He discussed the overwhelming issue of poverty, concentration of people in cities, the pressure on public services and public spaces, and the degradation that accompanies movements of people into cities
    DOI: 10.1596/26169
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  • 92
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    Keynote Address (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Series Statement: World Bank E-Library Archive
    Abstract: James D. Wolfensohn, President of the World Bank Group, discussed first, governance and corruption; second, legal and justice system that works; third, financial system to supervise and monitor what is going on in the banks and in the financial sector; and fourth, social system that works to protect people who are out of work, the aged, children, the disabled, and persons that are vulnerable. The leading companies are doing a fantastic job and it is hoped that perhaps with European Institute of Business Administration (INSEAD) can get some leadership in terms of recognition that the future is dependent on peace and social development
    DOI: 10.1596/26166
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  • 93
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    1998 Annual Review of Development Effectiveness (1999)
    Washington, D.C : The World Bank
    Details
    ISBN: 0821344749 , 9780821344743
    Language: English
    Pages: Online-Ressource (1 online resource (80 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Keywords: Banks and Banking Reform ; Debt Markets and Aid Effectiveness ; Economic Theory and Research ; Finance and Financial Sector Development ; Financial Literacy ; Macroeconomics and Economic Growth ; Banks and Banking Reform ; Debt Markets and Aid Effectiveness ; Economic Theory and Research ; Finance and Financial Sector Development ; Financial Literacy ; Macroeconomics and Economic Growth
    Abstract: The ongoing financial crisis has raised questions about the underpinnings of development assistance and the role of international financial institutions. A new development assistance framework, grounded in partnership, is emerging. That is the backdrop for this year's review, which--as in past years--tracks the World Bank's operational performance based on the findings of recent evaluations. After the backdrop provided in chapter one, the chapters that follow review recent evidence about the Bank's development effectiveness. Chapter 2 describes project and sector performance trends. Chapter 3 considers recent evaluation lessons at the country level. It draws on OED's (Operations Evaluation Department) country assistance evaluations to help draw out the lessons of the ongoing crisis. Chapter 4 draws lessons that can be inferred from thematic studies. The final chapter discusses the implications for Bank operations and evaluation
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  • 94
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    Public Choices between Lifesaving Programs : How Important Are Lives Saved? (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (78 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Cropper, Maureen Public Choices between Lifesaving Programs
    Keywords: Air Quality and Clean Air ; Breast Cancer ; Brown Issues and Health ; Children ; Disease Control and Prevention ; Environment ; Environmental Economics and Policies ; Environmental Health ; Finance and Financial Sector Development ; Health ; Health Care ; Health Education ; Health Monitoring and Evaluation ; Health Services ; Health, Nutrition and Population ; Implementation ; Industrial Pollution ; Industry ; Insurance and Risk Mitigation ; Internet ; Knowledge ; Ozone ; Population Policies ; Public Health ; Risks ; Screening ; Smokers ; Smoking ; Strategy ; Water Pollution ; Water Resources ; Water and Industry ; Workplace ; Air Quality and Clean Air ; Breast Cancer ; Brown Issues and Health ; Children ; Disease Control and Prevention ; Environment ; Environmental Economics and Policies ; Environmental Health ; Finance and Financial Sector Development ; Health ; Health Care ; Health Education ; Health Monitoring and Evaluation ; Health Services ; Health, Nutrition and Population ; Implementation ; Industrial Pollution ; Industry ; Insurance and Risk Mitigation ; Internet ; Knowledge ; Ozone ; Population Policies ; Public Health ; Risks ; Screening ; Smokers ; Smoking ; Strategy ; Water Pollution ; Water Resources ; Water and Industry ; Workplace
    Abstract: August 1995 - Do funding priorities for health and safety policies reflect irrational fears? the disaster of the month - rather than address more fundamental problems? A thousand people were surveyed to gauge popular feelings about funding choices between environmental and public health programs. In developing and industrial countries alike, there is concern that health and safety policy may respond to irrational fears - to the disaster of the month - rather than address more fundamental problems. In the United States, for example, some policymakers say the public worries about trivial risks while ignoring larger ones and that funding priorities reflect this view. Many public health programs with a low cost per life saved are underfunded, for example, while many environmental regulations with a high cost per life saved are issued each year. Does the existing allocation of resources reflect people's preoccupation with the qualitative aspects of risks, to the exclusion of quantitative factors (lives saved)? Or can observed differences in the cost per life saved of environmental and public health programs be explained by the way the two sets of programs are funded? Cropper and Subramanian examine the preferences of U.S. citizens for health and safety programs. They confronted a random sample of 1,000 U.S. adults with choices between environmental health and public health programs, to see which they would choose. The authors then examined what factors (qualitative and quantitative) seem to influence these choices. Respondents were asked about pairs of programs, among them: smoking education or industrial pollution control programs, industrial pollution control or pneumonia vaccine programs, radon eradication or a program to ban smoking in the workplace, and radon eradication or programs to ban pesticides. The survey results, they feel, have implications beyond the United States. They find that, while qualitative aspects of the life-saving programs are statistically significant in explaining people's choices among them, lives saved matter, too. Indeed, for the median respondent in the survey, the rate of substitution between most qualitative risk characteristics and lives saved is inelastic. But for a sizable minority of respondents, choice among programs appears to be insensitive to lives saved. The interesting question for public policy is what role the latter group plays in the regulatory process. This paper - a joint product of the Environment, Infrastructure, and Agriculture Division, Policy Research Department, and the Environment and Natural Resources Division, Asia Technical Department - is part of a larger effort in the Bank to see what can be learned about efficient environmental policy by examining the U.S. experience with environmental regulation. The authors may be contacted at mcropperworldbank.org or usubramanian@worldbank.org
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  • 95
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    Active Labor Market Policies in the OECD and in Selected Transition Economies (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (88 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Lehmann, Hartmut Active Labor Market Policies in the OECD and in Selected Transition Economies
    Keywords: Active Labor ; Active Labor Market ; Active Labor Market Policies ; Active Labor Policies ; Employment Programs ; Finding Work ; Jobs ; Labor Demand ; Labor Markets ; Labor Policies ; Labor Policies ; Labor Supply ; Labour ; Labour Market ; Labour Market Policy ; Open Unemployment ; Private Sector ; Public Employment ; Rising Unemployment ; Social Protections and Labor ; Unemployed ; Unemployed Workers ; Workers ; Active Labor ; Active Labor Market ; Active Labor Market Policies ; Active Labor Policies ; Employment Programs ; Finding Work ; Jobs ; Labor Demand ; Labor Markets ; Labor Policies ; Labor Policies ; Labor Supply ; Labour ; Labour Market ; Labour Market Policy ; Open Unemployment ; Private Sector ; Public Employment ; Rising Unemployment ; Social Protections and Labor ; Unemployed ; Unemployed Workers ; Workers
    Abstract: August 1995 - Applying mechanically active OECD labor policies in Hungary, Poland, and Russia makes no sense because the economies are so different. Which labor policies are realistic there? Training able workers in scarce, needed skills; easing credit for (and thereby encouraging) the self-employed; giving public jobs to problem workers and the long-term unemployed; and improving consultation services for the unemployed. Transition economies have introduced a range of OECD active labor market policies to combat unemployment - albeit often on paper only, as with rising unemployment passive policies have crowded out active ones. But even in the Czech Republic, active labor market policies have contributed only marginally to reducing unemployment. One task for policymakers in Central and Eastern Europe must be to convey the message that, even under the best circumstances, active labor policies can play only a marginal role in reducing unemployment. OECD labor policies cannot be applied mechanically in Central and Eastern Europe because the situation there is different. Severe and persistent shortages in capital and managerial ability are sure to keep labor demand weak in the medium term, while labor supply will be abundant. As enterprises are restructured and liquidated, the newly unemployed workers cannot be absorbed by the weak private sector and must compete for scarce jobs. Women and older, less educated men have particular trouble finding work. Which active labor policies does Lehmann suggest might be effective? Limited funds for active labor policies might best be spent retraining the most able unemployed workers to develop skills needed in the private sector. Public employment programs might be targeted especially to problem groups of workers and to the long-term unemployed - more for reasons of equity than of efficiency. The point is to have a clear idea whether both aims of efficiency and equity can be pursued and, if efficiency gains are unrealistic, whether equity considerations are politically indispensable. Because nontradable services are underdeveloped, Central and Eastern European countries might eliminate credit rationing that discourages self-employment (the self-employed have trouble getting financing). Improving consulting services for the unemployed in Hungary, Poland, and Russia makes more sense than applying a broad menu of OECD programs. The labor market in the Russian Federation appears to be more dynamic than in Hungary and Poland, but this is probably because of massive labor hoarding in Russian enterprises. Once they start shedding labor in earnest, their employment figures will look more like those in the other Central and Eastern European countries. This paper - a product of the Office of the Vice President, Development Economics - was prepared as a background paper for World Development Report 1995 on labor
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  • 96
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    Are the Poor Less Well-Insured? : Evidence on Vulnerability to Income Risk in Rural China (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (34 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Ravallion, Martin Are the Poor Less Well-Insured?
    Keywords: 1997 ; China ; Consumption ; Consumption ; Current Consumption ; Emerging Markets ; Finance and Financial Sector Development ; Financial Intermediation ; Fiscal and Monetary Policy ; Health Systems Development and Reform ; Health, Nutrition and Population ; Household Size ; Households ; Income ; Income ; Income Risk ; Income Shock ; Inequality ; Insurance ; Labor Policies ; Macroeconomics and Economic Growth ; Martin ; Poor ; Poor Areas ; Poverty Reduction ; Private Sector Development ; Public Sector Development ; Rural Development ; Rural Poverty Reduction ; Services and Transfers to Poor ; Social Protections and Labor ; Vulnerability ; Wealth Groups ; 1997 ; China ; Consumption ; Consumption ; Current Consumption ; Emerging Markets ; Finance and Financial Sector Development ; Financial Intermediation ; Fiscal and Monetary Policy ; Health Systems Development and Reform ; Health, Nutrition and Population ; Household Size ; Households ; Income ; Income ; Income Risk ; Income Shock ; Inequality ; Insurance ; Labor Policies ; Macroeconomics and Economic Growth ; Martin ; Poor ; Poor Areas ; Poverty Reduction ; Private Sector Development ; Public Sector Development ; Rural Development ; Rural Poverty Reduction ; Services and Transfers to Poor ; Social Protections and Labor ; Vulnerability ; Wealth Groups
    Abstract: December 1997 - In rural China, those in the poorest wealth decile are the least well-insured, with 40 percent of an income shock being passed on to current consumption. By contrast, consumption by the richest third of households is protected from almost 90 percent of an income shock. Jalan and Ravallion test how well consumption is insured against income risk in a panel of sampled households in rural China. They estimate the risk insurance models by Generalized Method of Moments, treating income and household size as endogenous. Insurance exists for all wealth groups, although the hypothesis of perfect insurance is universally rejected. Those in the poorest wealth decile are the least well-insured, with 40 percent of an income shock being passed on to current consumption. By contrast, consumption by the richest third of households is protected from almost 90 percent of an income shock. The extent of insurance in a given wealth stratum varies little between poor and nonpoor areas. This paper-a product of the Development Research Group-is part of a larger effort in the group to understand private insurance arrangements in poor rural economies. The study was funded by the Bank's Research Support Budget under the research project Dynamics of Poverty in Rural China (RPO 678-69)
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  • 97
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    Reforming the Urban Transport Sector in the Rio de Janeiro Metropolitan Region : A Case Study in Concessions (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (29 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Rebelo, M. Jorge Reforming the Urban Transport Sector in the Rio de Janeiro Metropolitan Region
    Keywords: Automobile ; Bus ; Buses ; Cars ; Infrastructure ; Mass Trans Metropolitan Transport ; Public Transport ; Public Transportation ; Rail Transport ; Subsidies ; Suburban Railways ; Transparency ; Transport ; Transport Economics, Policy and Planning ; Transport Projects ; Transport Sector ; Transport Systems ; Trips ; Urban Rail ; Urban Trans Urban Transport ; Automobile ; Bus ; Buses ; Cars ; Infrastructure ; Mass Trans Metropolitan Transport ; Public Transport ; Public Transportation ; Rail Transport ; Subsidies ; Suburban Railways ; Transparency ; Transport ; Transport Economics, Policy and Planning ; Transport Projects ; Transport Sector ; Transport Systems ; Trips ; Urban Rail ; Urban Trans Urban Transport
    Abstract: April 1999 - In a bold effort to privatize Rio de Janeiro's urban transport sector, the state government showed that political decisiveness, transparency, and ingenuity in developing incentives are crucial to make loss-making operations attractive to the private sector. It also learned that not having a credible staff redundancy program might seriously undermine the benefits expected from concessions. Rebelo describes a bold effort by the state government to increase private sector participation in Rio de Janeiro's urban transport sector, reduce heavy operating subsidies, and establish a foundation for making the sector sustainable. This effort was undertaken with the help of three World Bank-financed loans: ° The Rio de Janeiro Metropolitan Transport loan, which provided assistance for the transfer of federally owned suburban railways to the state government. ° The Rio de Janeiro State Reform and Privatization Loan, which helped the state privatize and grant concessions for a number of its enterprises. ° The Rio de Janeiro Mass Transit Loan, which supported the reorganization of the sector and the concession of the Rio suburban railways (Flumitrens). Most of the reforms in the urban transport sector have been implemented. The lessons learned from implementation and the results obtained so far suggest that political decisiveness, transparency, and ingenuity in developing incentives are crucial to privatizing urban rail transport systems. But the state also learned that not having a credible staff redundancy program might seriously reduce the benefits expected from concessions. This paper-a product of the Transport and Urban Unit, Finance, Private Sector, and Infrastructure Department, Latin America and the Caribbean Region-is part of a larger effort in the region to help borrowers concession loss-making urban transport operations to the private sector. The author may be contacted at jrebeloworldbank.org
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  • 98
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    Marginal Willingness to Pay for Education and the Determinants of Enrollment in Mexico (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (28 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Salinas, Angel Marginal Willingness to Pay for Education and the Determinants of Enrollment in Mexico
    Keywords: Education ; Education ; Education Facilities ; Education for All ; Educational Expenditure ; Educational Expenditures ; Educational Levels ; Educational Policy ; Educational Reforms ; Educational Services ; Effective Schools and Teachers ; Finance and Financial Sector Development ; Financial Literacy ; Gender ; Gender and Education ; Health, Nutrition and Population ; Population Policies ; Poverty Reduction ; Primary Education ; Primary Level ; Private Schools ; Public Schools ; Public Sector Management and Reform ; Rural Development ; Rural Poverty Reduction ; School ; School Attendance ; School Enrollment ; School Fees ; School Level ; School Quality ; Schooling ; Secondary Education ; Secondary School ; Tertiary Education ; Textbooks ; Education ; Education ; Education Facilities ; Education for All ; Educational Expenditure ; Educational Expenditures ; Educational Levels ; Educational Policy ; Educational Reforms ; Educational Services ; Effective Schools and Teachers ; Finance and Financial Sector Development ; Financial Literacy ; Gender ; Gender and Education ; Health, Nutrition and Population ; Population Policies ; Poverty Reduction ; Primary Education ; Primary Level ; Private Schools ; Public Schools ; Public Sector Management and Reform ; Rural Development ; Rural Poverty Reduction ; School ; School Attendance ; School Enrollment ; School Fees ; School Level ; School Quality ; Schooling ; Secondary Education ; Secondary School ; Tertiary Education ; Textbooks
    Abstract: July 2000 - The best way to increase school enrollment in Mexico is to successfully target public spending on education to poor households. Currently, nonpoor households in urban areas get much of the subsidy benefit from the government provision of education services. Standard benefit-incidence analysis assumes that the subsidy and quality of education services are the same for all income deciles. This strong assumption tends to minimize the distributional inequity at various education levels. Using a new approach emphasizing marginal willingness to pay for education, Lopez-Acevedo and Salinas analyze the impact of public spending on the education spending behavior of the average household. They address several questions: What would an average household with a given set of characteristics be willing to spend on an individual child with given traits if subsidized public education facilities were unavailable? What would the household have saved by sending the child to public school rather than private school? How great are these savings for various income groups? What are the determinants of enrollment by income group and by location? How do individuals' education expenditures affect enrollment patterns? Among their findings: · The nonpoor households in urban areas get much of the subsidy, or savings, from government provision of education services. · The wealthy value private education more than the poor do. · Differences in school quality are greater at the primary level. In other words, wealthy households get the lion's share of benefits from public spending on education. Household school enrollment and transition to the next level of schooling depend heavily on the cost of schooling, how far the head of the household went in school, the per capita household income, and the housing facilities or services. But the government's effort also affects the probability of enrollment and transition. The probability of enrollment is much higher for the 40 percent of higher-income households in urban areas than it is for the 40 percent of lower-income households in rural areas. The best way to increase school enrollment is to successfully target public spending on education to poor households. This paper-a product of the Economic Policy Sector Unit and the Mexico Country Office, Latin America and the Caribbean Region-is part of a strategy to reduce poverty and inequality in Mexico. The study was part of the research project Earnings Inequality after Mexico's Economic Reforms. The authors may be contacted at gacevedoworldbank.org or asalinas@worldbank.org
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  • 99
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    Wage and Productivity Gaps : Evidence from Ghana (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (54 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Verner, Dorte Wage and Productivity Gaps
    Keywords: Access and Equity in Basic Education ; Demand ; Earnings ; Economic Theory and Research ; Education ; Education ; Education for All ; Finance and Financial Sector Development ; Financial Literacy ; Information ; Investing ; Investment ; Labor Force ; Labor Market ; Labor Markets ; Labor Markets ; Labor Policies ; Large Enterprises ; Macroeconomics and Economic Growth ; Population ; Primary Education ; Productivity ; Questionnaire ; Regression Analyses ; Research Assistance ; Sales ; Social Protections and Labor ; Supply ; Tertiary Education ; Training ; Wage ; Wages ; Access and Equity in Basic Education ; Demand ; Earnings ; Economic Theory and Research ; Education ; Education ; Education for All ; Finance and Financial Sector Development ; Financial Literacy ; Information ; Investing ; Investment ; Labor Force ; Labor Market ; Labor Markets ; Labor Markets ; Labor Policies ; Large Enterprises ; Macroeconomics and Economic Growth ; Population ; Primary Education ; Productivity ; Questionnaire ; Regression Analyses ; Research Assistance ; Sales ; Social Protections and Labor ; Supply ; Tertiary Education ; Training ; Wage ; Wages
    Abstract: August 1999 - This paper studies labor market outcomes in Ghana. The analysis focuses on the formal manufacturing wage sector and, more specifically, on the determinants of wages and productivity for various groups of workers. It tests hypotheses that relate to the impacts of individual and enterprise characteristics on wages. Furthermore, it compares the marginal impact of each of these characteristics on wages with their respective impact on labor productivity. The results may indicate whether, for example, there exists a spot labor market, discrimination, and/or structural differences among sectors and groups of workers. The paper analyzes whether experience, training, and education impact wages and productivity. In recent years, analysts have paid a lot of attention to the impacts of education and labor force training. The rationale for investing in human capital is that a more skilled and educated labor force is more productive than a less educated one. Therefore, policymakers emphasize investment in human capital because they believe that, in general, it increases labor productivity. However, there is not have much evidence of this relationship in the Africa region.11 Glewwe (1996) finds that there is no return to human capital in Ghana. This paper aims partially at filling this void by presenting evidence on the direct impact of education, training, and experience on productivity for different groups of workers using econometric regression analyses. It looks at whether Ghanaian labor markets are characterized by gender discrimination. It analyzes whether the labor markets are competitive. And it looks at whether union membership, manufacturing sector, and firm location affect labor market outcomes. This paper-a product of Human Development 3, Africa Technical Families-is part of a larger effort in the region to understand how labor markets work in Africa. The author may be contacted at dvernerworldbank.org
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  • 100
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    Ethnic Partition as a Solution to Ethnic War : An Empirical Critique of the Theoretical Literature (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (42 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Sambanis, Nicholas Ethnic Partition as a Solution to Ethnic War
    Keywords: Agreement ; Alliances ; Atrocities ; Children and Youth ; Civil War ; Civil Wars ; Conflict ; Conflict and Development ; Constraints ; Economy ; Genocide ; Hazard Risk Management ; Health, Nutrition and Population ; Human Rights ; International Affairs ; International Community ; Negotiated Settlement ; Peace ; Peace and Peacekeeping ; Polarization ; Population Policies ; Post Conflict Reconstruction ; Post Conflict Reintegration ; Rebels ; Reconciliation ; Reconstruction ; Urban Development ; Violence ; Violent Conflict ; War ; Agreement ; Alliances ; Atrocities ; Children and Youth ; Civil War ; Civil Wars ; Conflict ; Conflict and Development ; Constraints ; Economy ; Genocide ; Hazard Risk Management ; Health, Nutrition and Population ; Human Rights ; International Affairs ; International Community ; Negotiated Settlement ; Peace ; Peace and Peacekeeping ; Polarization ; Population Policies ; Post Conflict Reconstruction ; Post Conflict Reintegration ; Rebels ; Reconciliation ; Reconstruction ; Urban Development ; Violence ; Violent Conflict ; War
    Abstract: October 1999 - Partition theorists argue that when violent ethnic conflict is intense, civil politics cannot be restored unless ethnic groups are demographically separated into defensible enclaves. The empirical evidence suggests otherwise. Some theorists of ethnic conflict argue that the physical separation of warring ethnic groups may be the only possible solution to civil war. Without territorial partition and (if needed) forced population movements, they argue, ethnic war cannot end and genocide is likely. Other scholars have counterargued that partition only replaces internal war with international war, creates undemocratic successor states, and generates tremendous human suffering. So far this debate has been informed by few important case studies. Sambanis uses a new set of data on civil wars to identify the main determinants of ethnic partitions and to estimate their impact on the probability of war's recurrence, on low-grade ethnic violence, and on the political institutions of successor states. Sambanis's analysis is the first large-sample quantitative analysis of the subject, testing the propositions of partition theory and weighing heavily on the side of its critics. He shows that almost all the assertions of partition theorists fail to pass rigorous empirical tests. He finds that, on average, partition does not significantly reduce the probability of new violence. A better strategy might be to combine ethnic groups, but most important is to establish credible and equitable systems of governance. It is also important not to load the strategy with subjective premises about the necessity of ethnically pure states and about the futility of interethnic cooperation. This paper - a product of Public Economics, Development Research Group - is part of a larger effort in the group to study the economics of civil wars. The author may be contacted at nsambanisworldbank.org〉
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