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  • English  (315)
  • Washington, D.C : The World Bank  (315)
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  • 1
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Poverty Study
    Keywords: Debt Indicators ; Developing Countries ; Fiscal Indicators ; GDP ; Gender and Health ; Gender and Law ; Gender and Social Policy ; International Law ; Macroeconomics and Economic Growth ; No Poverty ; Poverty Indicators ; Poverty Reduction ; SDG 1
    Abstract: This edition of the Macro Poverty Outlooks periodical contains country-by-country forecasts and overviews for GDP, fiscal, debt and poverty indicators for the developing countries of the South Asia region. Macroeconomic indicators such as population, gross domestic product and gross domestic product per capita, and where available, other indicators such as primary school enrollment, life expectancy at birth, total greenhouse gas emissions and inflation, among others, are included for each country. In addition to the World Bank's most recent forecasts, key conditions and challenges, recent developments and outlook are briefly described for each country in the region
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  • 2
    Language: English
    Pages: 1 Online-Ressource (20 pages)
    Parallel Title: Erscheint auch als Beegle, Kathleen COVID-19 Increased Existing Gender Mortality Gaps in High-Income Countries More than in Middle-Income Countries
    Keywords: Communicable Diseases ; Coronavirus ; Developing Countries ; Gender ; Gender and Economics ; Gender and Health ; Health, Nutrition and Population ; Mortality ; Pandemic
    Abstract: Men die at higher rates in nearly all places and at all ages beyond age 45. Using World Health Organization excess mortality estimates by sex and age groups for 75 countries in 2020 and 62 countries in 2021, this paper analyzes how patterns of excess mortality varied by sex and age groups across countries during the COVID-19 pandemic and their association with country income level. In 2020, the pandemic amplified the gender mortality gap for the world, but with variation across countries and by country income level. In high-income countries, rates of excess mortality were much higher for men than women. In contrast, in middle-income countries, the sex ratio of excess mortality was similar to the sex ratio of expected all-cause mortality. The exacerbation of the sex ratio of excess mortality observed in 2020 in high-income countries declined in 2021, likely as a result of the faster rollout of vaccination against COVID-19
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  • 3
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Poverty Study
    Keywords: Debt Indicators ; Developing Countries ; Economic Growth ; Fiscal and Monetary Policy ; Fiscal Indicators ; GDP ; Inflation ; Macroeconomics and Economic Growth ; No Poverty ; Poverty Indicators ; Poverty Reduction ; SDG 1
    Abstract: This edition of the Macro Poverty Outlooks periodical contains country-by-country forecasts and overviews for GDP, fiscal, debt and poverty indicators for the developing countries of the Sub-Saharan Africa region. Macroeconomic indicators such as population, gross domestic product, and gross domestic product per capita, and where available, other indicators such as primary school enrollment, life expectancy at birth, total greenhouse gas emissions and inflation, among others, are included for each country. In addition to the World Bank's most recent forecasts, key conditions and challenges, recent developments and outlook are briefly described for each country in the region
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  • 4
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Poverty Study
    Keywords: Debt Indicators ; Developing Countries ; Economic Growth ; Fiscal Indicators ; GDP ; Inflation ; Living Standards ; Macroeconomics and Economic Growth ; No Poverty ; Poverty Indicators ; Poverty Reduction ; Public Sector Development ; SDG 1
    Abstract: This edition of the Macro Poverty Outlooks periodical contains country-by-country forecasts and overviews for GDP, fiscal, debt and poverty indicators for the developing countries of the Europe and Central Asia region. Macroeconomic indicators such as population, gross domestic product and gross domestic product per capita, and where available, other indicators such as primary school enrollment, life expectancy at birth, total greenhouse gas emissions and inflation, among others, are included for each country. In addition to the World Bank's most recent forecasts, key conditions and challenges, recent developments and outlook are briefly described for each country in the region
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  • 5
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Equitable Growth, Finance and Institutions Insight
    Keywords: Developing Countries ; Economic Adjustment and Lending ; Governance ; Macroeconomics and Economic Growth ; Resource-Backed Lending ; Sub-Saharan Africa ; Transparency
    Abstract: This paper investigates the characteristics of resource-backed lending across sub-Saharan Africa. To shed light on this type of lending, the paper presents new information on thirty resource-backed loans identified through publicly available information between 2004-2018. These loans are concentrated in a few countries, where they represent a sizable fraction of all borrowing, they are typically taken by central governments and state-owned enterprises. While loan terms are mostly opaque, where data is available, we find that such loans are not cheaper than regular loans. The authors highlight opportunities to improve transparency and offer some suggestions for improving the governance of collateralized borrowings across developing countries
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  • 6
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (182 pages)
    Parallel Title: Erscheint auch als
    Keywords: Commodity Prices ; Developing Countries ; Developing Economies ; Economic Growth ; Economic Prospects ; Emerging Markets ; Global Economy ; International Trade ; Trade Protectionism
    Abstract: Global growth is projected to slow significantly in the second half of this year, with weakness continuing in 2024. Inflation pressures persist, and tight monetary policy is expected to weigh substantially on activity. The possibility of more widespread bank turmoil and tighter monetary policy could result in even weaker global growth. Rising borrowing costs in advanced economies could lead to financial dislocations in the more vulnerable emerging market and developing economies (EMDEs). In low-income countries, in particular, fiscal positions are increasingly precarious. Comprehensive policy action is needed at the global and national levels to foster macroeconomic and financial stability. Among many EMDEs, and especially in low-income countries, bolstering fiscal sustainability will require generating higher revenues, making spending more efficient, and improving debt management practices. Continued international cooperation is also necessary to tackle climate change, support populations affected by crises and hunger, and provide debt relief where needed. In the longer term, reversing a projected decline in EMDE potential growth will require reforms to bolster physical and human capital and labor-supply growth
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  • 7
    Language: English
    Pages: 1 Online-Ressource (53 pages)
    Parallel Title: Erscheint auch als Piza, Caio Experimental Evaluation of a Financial Education Program in Elementary and Middle School Grades
    Keywords: Behavioral Modification ; Education ; Elementary Education ; Finance and Financial Sector Development ; Financial Education ; Financial Law ; Financial Literacy ; Financial Proficiency Promotion ; Law and Development ; Middle School Financial Literacy
    Abstract: This paper investigates whether providing financial education in elementary and middle school grades improves students' financial proficiency and actual behavior. It uses a cluster randomized control trial to evaluate a pilot program implemented in 101 Brazilian municipal schools in 2015. The findings show positive impacts on financial proficiency, mainly among middle school students, and suggestive evidence of improvements in short-term behavioral outcomes. However, the analysis indicates that the program did not impact students' school achievements in both the short and longer terms, which suggests that the program's effects were not strong enough to shift students' behavior decisions
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  • 8
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2119
    Keywords: Debt Indicators ; Developing Countries ; Economic Growth ; Fiscal Indicators ; GDP ; Inflation ; Macroeconomics and Economic Growth ; Poverty Indicators
    Abstract: This edition of the Macro Poverty Outlooks periodical contains country-by-country forecasts and overviews for GDP, fiscal, debt and poverty indicators for the developing countries of the South Asia region. Macroeconomic indicators such as population, gross domestic product and gross domestic product per capita, and where available, other indicators such as primary school enrollment, life expectancy at birth, total greenhouse gas emissions and inflation, among others, are included for each country. In addition to the World Bank's most recent forecasts, key conditions and challenges, recent developments and outlook are briefly described for each country in the region
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  • 9
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2119
    Keywords: Debt Indicators ; Developing Countries ; Fiscal Indicators ; GDP ; Gender and Transport ; Macroeconomics and Economic Growth ; Poverty Indicators ; Urban Slums Upgrading
    Abstract: This edition of the Macro Poverty Outlooks periodical contains country-by-country forecasts and overviews for GDP, fiscal, debt and poverty indicators for the developing countries of the Sub-Saharan Africa region. Macroeconomic indicators such as population, gross domestic product and gross domestic product per capita, and where available, other indicators such as primary school enrollment, life expectancy at birth, total greenhouse gas emissions and inflation, among others, are included for each country. In addition to the World Bank's most recent forecasts, key conditions and challenges, recent developments and outlook are briefly described for each country in the region
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  • 10
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2180
    Keywords: Access To Technology ; Digital Financial Landscape ; Finance and Financial Sector Development ; Financial Literacy ; ICT Economics ; Macroeconomics and Economic Growth ; Poverty and Savings ; Savings Aspiration Survey ; Social Protections and Labor ; Urban Poverty and Financial Services
    Abstract: Gisela is among the large and diverse group of informal sector workers in urban Liberia who lack social protection coverage, have little interaction with formal financial institutions, and depend on informal saving groups to meet their financial needs. The financial vulnerability that this group faces not only puts their welfare at risk but also under-mines the economy at large. Despite the potential risks, there is little systematic information on how the urban informal poor in Liberia save, their saving aspirations, and what they need to save better. This report explores the saving behavior and aspirations of urban informal households in Liberia by presenting the findings from a survey of 1000 households in Monrovia, supplemented by an assessment of Liberia's existing informal savings institutions
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  • 11
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (25 pages)
    Parallel Title: Erscheint auch als Buri, Sinja Alternative Delivery Channels and Impacts: Agent Banking
    Keywords: Access To Banking ; Access To Finance ; Finance and Financial Sector Development ; Financial Inclusion ; Financial Literacy ; Microfinance ; Microfinance Channel Development ; Microfinance Product Development ; Rural Development ; Transformation of Microfinance Institutions
    Abstract: This paper reviews evidence on agent networks of microfinance institutions and other financial services providers, which have expanded rapidly in recent years in some low- and middle-income contexts. There is emerging evidence that clients become more financially active as a result of the convenience and security of transacting with agents, especially with respect to depositing, withdrawing, and transferring funds. Agent networks could also help increase the savings of low-income clients, although evidence suggests that commitment devices may also be required, and there is little evidence that agents expand credit to clients, although they can facilitate loan repayment. Building on their physical and social proximity to customers, agents can become a potential gateway for expanding and deepening financial inclusion, but the pricing of agent transactions and consumer protection remain important considerations
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  • 12
    Language: English
    Pages: 1 Online-Ressource (57 pages)
    Parallel Title: Erscheint auch als Mendes, Arthur The Macroeconomic Effects of Cash Transfers: Evidence from Brazil
    Keywords: Bartik Instrument ; Bolsa Familia ; Cash Transfer ; Developing Countries ; Development Economics and Aid Effectiveness ; Employment ; Fiscal Multiplier ; Informality ; Local Multiplier ; Macroeconomics and Economic Growth ; Poverty Reduction ; Relative Multiplier ; Services and Transfers to Poor ; Social Protections and Labor
    Abstract: This paper provides new evidence on the macroeconomic impact of cash transfers in developing countries. Using a Bartik-style identification strategy, the paper documents that Brazil's Bolsa Familia transfer program leads to a large and persistent increase in relative state-level GDP, formal employment, and informal employment. A state receiving 1% of GDP in extra transfers grows 2.2% faster in the first year, with RD 100,000 of extra transfers generating five formal-equivalent jobs, half of which are informal. Consistent with a demand-side mechanism, the effects are concentrated in non-tradable sectors. However, an open-economy New Keynesian model only partially captures the high multipliers estimated
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  • 13
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2114
    Keywords: Access To Finance ; Economic Investment and Savings ; Employment and Unemployment ; Energy ; Energy Efficiency ; Environment ; EU Standards ; Financial Literacy ; GHG ; Industry ; Rise
    Abstract: This report explores priorities and challenges faced by Georgia to promote green transition and support its businesses to reduce their emissions through energy efficiency. The report stresses the need for improved incentives and opportunities for business investments in energy efficiency and renewables. The report points to the importance of productivity as a driver of energy efficiency at the firm-level, as well as the importance of information and knowledge spillovers from more efficient firms to less efficient ones when these are in close-by locations and in similar sectors. The report finds that key drivers of energy efficiency upgrading include prices of energy, as these generate key incentives for businesses to upgrade their investments and organization, as well as technology adoption and quality green and general management practices. To support green transition, the report recommends a comprehensive policy package of reforms and programs, including: (i) Horizontal economy-wide policies centered around price signals and regulations, improvements to the grid infrastructure, and reliability of electricity services; (ii) Information - raising firms awareness about potential benefits of becoming more energy efficient and available energy saving. (iii) Capabilities - helping firms identify opportunities for improvement of management, organization, technology, and skills; and (iv) Finance - easing access to financial resources required for upgrading firms' technology. Finally, the report emphasizes the importance of targeting by using appropriate diagnostic and benchmarking tools to assess specific needs and readiness of businesses to upgrade and invest in energy efficiency
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  • 14
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2119
    Keywords: Debt Indicators ; Developing Countries ; Economic Growth ; Fiscal Indicators ; GDP ; Inflation ; Macroeconomics and Economic Growth ; Poverty Indicators
    Abstract: This edition of the Macro Poverty Outlooks periodical contains country-by-country forecasts and overviews for GDP, fiscal, debt and poverty indicators for the developing countries of the Latin America and the Caribbean region. Macroeconomic indicators such as population, gross domestic product and gross domestic product per capita, and where available, other indicators such as primary school enrollment, life expectancy at birth, total greenhouse gas emissions and inflation, among others, are included for each country. In addition to the World Bank's most recent forecasts, key conditions and challenges, recent developments and outlook are briefly described for each country in the region
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  • 15
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2119
    Keywords: Climate Change Policy and Regulation ; Debt Indicators ; Developing Countries ; Fiscal Indicators ; Forestry ; Forestry Management ; GDP ; Macroeconomics and Economic Growth ; Poverty Indicators
    Abstract: This edition of the Macro Poverty Outlooks periodical contains country-by-country forecasts and overviews for GDP, fiscal, debt and poverty indicators for the developing countries of the East Asia and the Pacific region. Macroeconomic indicators such as population, gross domestic product and gross domestic product per capita, and where available, other indicators such as primary school enrollment, life expectancy at birth, total greenhouse gas emissions and inflation, among others, are included for each country. In addition to the World Bank's most recent forecasts, key conditions and challenges, recent developments and outlook are briefly described for each country in the region
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  • 16
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2201
    Keywords: Access To Finance ; Adaptation To Climate Change ; Carbon Emission Reduction ; City Development Strategies ; Climate Change Adaptation ; Climate Change Mitigation and Green House Gases ; Construction Materials ; Decarbonization ; Developing Countries ; Emerging Markets ; Environment ; Finance and Financial Sector Development ; Sustainable Construction ; Urban Development
    Abstract: How developing countries meet their rising building needs will be pivotal to the world's climate future. The good news is that the projected emissions growth in construction value chains can be reduced significantly with the application of existing technologies, new financing instruments, and the implementation of appropriate policies. Even as emerging economies meet the rising demand for residential and commercial buildings, it is possible to reduce total emissions from the sector below today's level by 2035. To avoid perpetuating the status quo, decisive action is needed by policy makers, developers, construction material producers, financiers, and international development institutions. IFC is launching this report to guide international efforts to decarbonize construction value chains. Building Green: Sustainable Construction in Emerging Markets was prepared through close collaboration between IFC economists, investment officers, and building and constructionsector specialists. The report provides a comprehensive analysis of the challenges of reducing carbon emissions from construction value chains in developing countries, but also the considerable opportunities that willcome from mobilizing the estimated USD 1.5 trillion of investment required for this transition
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  • 17
    Language: English
    Pages: 1 Online-Ressource (30 pages)
    Parallel Title: Erscheint auch als Bruhn, Miriam The Long-Term Impact of High School Financial Education: Evidence from Brazil
    Keywords: Curriculum and Instruction ; Education ; Finance and Financial Sector Development ; Financial Education ; Financial Literacy ; Highschool Education ; Knowledge for Development ; Personal Credit Usage ; Youth Economic Development
    Abstract: In 2011, the impact of a comprehensive financial education program was studied through a randomized controlled trial with 892 high schools in six Brazilian states. Using administrative data, this paper follows 16,000 students for the next nine years. The short-term findings were that the treatment students used expensive credit and were behind on payments. By contrast, in the long-term, treatment students were less likely to borrow from expensive sources and to have loans with late payments than control students. Treatment students were also more likely to own microenterprises and less likely to be formally employed than control students
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  • 18
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Speeches of World Bank Presidents
    Keywords: Agriculture ; Climate Change ; Climate Change and Agriculture ; Climate Change Impacts ; Developing Countries ; Environment ; Inflation ; Macroeconomics and Economic Growth ; Social Development ; Social Risk Management
    Abstract: These remarks were delivered by World Bank Group President David Malpass to the G24 Meeting of Ministers and Governors on October 11, 2022. The developing world is facing an extremely challenging outlook shaped by sharply higher food, fertilizer, and energy prices, rising interest rates and credit spreads, currency depreciation, capital outflows, and higher level of debts that adds to higher inflation, impacting especially the poor. With the current trends, the risks of a global recession in 2023 are high. The World Bank Group, together with the IMF, stands ready to continue working with the G20 to make progress in the debt agenda and we look forward to working with India's upcoming G20 Presidency on this
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  • 19
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Independent Evaluation Group Studies
    Keywords: Capital Flows ; Developing Countries ; Private Sector ; Private Sector Development ; Private Sector Economics
    Abstract: In December 2016, the International Finance Corporation (IFC) introduced its latest strategy, IFC 3.0, which aimed to enhance IFC's development impact by creating "new and stronger markets for private sector solutions" (IFC 2019) and "mobilizing private capital at significant scale" (IFC 2021) where it is needed the most. To achieve IFC 3.0's aims of market creation and private capital mobilization at scale, IFC recognized it would need new tools and analytical capabilities to: (i) Develop a deeper understanding of the constraints limiting private sector solutions and opportunities in each country's economy, including in key enabling and productive sectors; and (ii) Allow for a more strategic selection, sequencing, and implementation of its activities and stronger coordination across the World Bank Group. At the country level, IFC 3.0's tools included a new diagnostic instrument, the Country Private Sector Diagnostic (CPSD), and a new strategy instrument, the IFC Country Strategy. The objective of the evaluation is to assess whether IFC Country Strategies and CPSDs have enhanced IFC's ability to create markets and mobilize capital at scale and have informed Bank Group collaboration on private sector development. The evaluation will focus on IFC Country Strategies and CPSDs completed since their inception in fiscal year (FY)18. The evaluation will cover all 50 IFC Country Strategies and the 31 CPSDs completed between FY18 and December 31, 2021
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  • 20
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (194 pages)
    Series Statement: Global Economic Prospects
    Parallel Title: Erscheint auch als
    Keywords: Commodity Prices ; Developing Countries ; Developing Economies ; Economic Growth ; Economic Prospects ; Emerging Markets ; Global Economy ; International Trade ; Trade Protectionism
    Abstract: The world economy continues to suffer from a series of destabilizing shocks. After more than two years of pandemic, Russia's invasion of Ukraine and its global effects on commodity markets, supply chains, inflation, and financial conditions have steepened the slowdown in global growth. In particular, the war is leading to soaring prices and volatility in energy markets, with improvements in activity in energy exporters more than offset by headwinds to activity in most other economies. The war has also led to a significant increase in agricultural commodity prices, which is exacerbating food insecurity and extreme poverty in many emerging market and developing economies. Numerous risks could further derail what is now a precarious recovery. Among them is, in particular, the possibility of stubbornly high global inflation accompanied by tepid growth, reminiscent of the stagflation of the 1970s. This could eventually result in a sharp tightening of monetary policy in advanced economies to rein in inflation, lead to surging borrowing costs, and possibly culminate in financial stress in some emerging market and developing economies. A forceful and wide-ranging policy response is required by policy makers and the global community to boost growth, bolster macroeconomic frameworks, reduce financial vulnerabilities, provide support to the vulnerable population groups, and attenuate the long-term impacts of the global shocks of recent years
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  • 21
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Economic and Sector Work Reports
    Keywords: Climate and Meteorology ; Developing Countries ; Environment ; Hazard Risk Management ; Hydrology ; Natural Disasters ; Science and Technology Development ; Sustainability ; Urban Development ; Water Resources
    Abstract: Over the past 20 years, developing countries have invested in upgrading hydrological and meteorological networks, often with the assistance of development partners. In most of these projects, the share of the investment in the modernization of networks has been between 40 and 50 percent of the total project costs. The objectives of these initiatives have been to create reliable analyses, numerical predictions, and forecasts to inform early action, response, and planning across the whole of society. In some countries, monitoring networks have been sustained and improved over the decades. But in others, maintaining them operationally has remained elusive, resulting not only in inoperable or poorly maintained observational infrastructure and systems but also in a failure to realize the intended benefits. Why did some succeed where others did not That is a question that this report tries to answer by exploring the underpinnings of the successes and the possibilities of replicating these successes elsewhere, and thereby contribute to the body of knowledge on observation networks. This report aims to facilitate the development of more strategic and viable roadmaps for investments in weather and climate observation networks where those investments are likely to be substantial in the coming decades, as countries improve resilience to natural hazards and economies transform in response to climate change challenge
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  • 22
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Economic and Sector Work Reports
    Keywords: Business Models ; Developing Countries ; Digital Conglomerates ; Digital Technologies ; ICT Economics ; ICT Legal and Regulatory Framework ; ICT Policy and Strategies ; Information and Communication Technologies ; Science and Technology Development ; Technology Innovation
    Abstract: Digital technologies hold the promise of bridging wealth gaps through innovation-driven growth, but the "winners-take-most" dynamic of digital business models calls into question the net growth effect and the global footprint of this sector. Digital transformation is driven by a set of digital technologies that have led to a rapid and steep decline in the costs of data storage, computation, and transmission. These technologies hold promise for bridging the wealth gap between nations by allowing developing countries to catch up with generations of previous technologies. At the same time, characteristics inherent to these technologies have the potential to result in a "winner-takes-most" dynamic, by creating market entry barriers and leading to high levels of concentration and potential market dominance. For the first time, this report provides novel evidence of the characteristics of digital business and markets in 190 countries. The report defines digital businesses as digital solution providers that develop and manufacture digital technology products or digital services; a subset of these can also use platform-based and/or data-intensive network effect business models. The report draws on the World Bank's newly assembled firm-level database of 200,000 digital businesses in 190 countries, to provide unique evidence on the current global digital business landscape
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  • 23
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (50 pages)
    Parallel Title: Erscheint auch als Kee, Hiau Looi Trade Fraud and Non-Tariff Measures
    Keywords: Developed Countries ; Developing Countries ; Discrepancies ; Homogeneous Products ; Law and Development ; Law Enforcement Systems ; Non-Tariff Measures ; Official Trade Statistics ; Tariff Evasion ; Trade ; Trade Fraud ; Trade Law
    Abstract: Similar to tariffs, non-tariff measures may induce trade fraud when they are restrictive. This paper examines whether discrepancies observed in the official trade statistics of importing and exporting countries are partly due to trade fraud from evading border non-tariff measures. To capture the restrictiveness of non-tariff measures, the paper estimates the ad valorem equivalent with importer-exporter-product variations. It presents a theoretical model and empirical evidence showing that discrepancies increase with ad valorem equivalents, consistent with the trade fraud due to traders intentionally mis-declaring countries of origin or misclassifying products in order to evade border non-tariff measures. The results are driven by homogeneous products and the trade between developed and developing countries
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  • 24
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (236 pages)
    Series Statement: Global Economic Prospects
    Parallel Title: Erscheint auch als
    Keywords: Commodity Prices ; Developing Countries ; Developing Economies ; Economic Growth ; Economic Prospects ; Emerging Markets ; Global Economy ; International Trade ; Trade Protectionism
    Abstract: The global recovery is set to decelerate amid diminished policy support, continued COVID-19 flare-ups, and lingering supply bottlenecks. In contrast to that in advanced economies, output in emerging market and developing economies will remain markedly below pre-pandemic trends over the forecast horizon. The outlook is clouded by various downside risks, including new COVID-19 outbreaks, the possibility of de-anchored inflation expectations, and financial stress in a context of record-high debt levels. If some countries eventually require debt restructuring, this will be more difficult to achieve than in the past. Climate change may increase commodity price volatility, creating challenges for the almost two-thirds of emerging market and developing economies that rely heavily on commodity exports and highlighting the need for asset diversification. Social tensions may heighten as a result of the increase in inequality caused by the pandemic. These challenges underscore the importance of strengthened global cooperation to promote a green, resilient, and inclusive recovery path. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies
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  • 25
    Language: English
    Pages: 1 Online-Ressource (73 pages)
    Parallel Title: Erscheint auch als Gazeaud, Jules With or without him? Experimental Evidence on Gender-Sensitive Cash Grants and Trainings in Tunisia
    Keywords: Access To Finance ; Cash Transfer ; Employment ; Finance and Financial Sector Development ; Financial Education ; Financial Literacy ; Gender ; Gender and Economic Policy ; Gender and Public Expenditures ; Gender Role ; Labor Market ; Unconditional Cash Grant ; Unconditional Cash Transfer ; Women's Work
    Abstract: Is it possible to stimulate women's employment by relaxing their financial and human capital constraints Does involving husbands help or hinder the effort Using an experiment in Tunisia, this paper shows that providing cash grants and financial training to women stimulates their income generating activities, but only when their partners are not involved. The program did not alter traditional gender roles. Instead, it encouraged employment of other household members and investments in small-scale agriculture and livestock farming - two activities traditionally undertaken by women at home. The impacts on household living standards are overwhelmingly positive, and suggest that the program is highly cost-effective
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  • 26
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: ESMAP papers
    Keywords: Bottled Gas Subsidies ; Clean Cooking ; Developing Countries ; Energy ; Energy and Economic Development ; Energy and Environment ; Energy Conservation and Efficiency ; Energy Policies and Economics ; Oil and Gas ; Political Challenges
    Abstract: For decades, many developing countries have provided universal price subsidies for bottled gas to promote clean cooking. Advances in digital technology and ample evidence of the economic distortions caused by the subsidies have led some governments to instead use targeted cash transfers, slashing illegal diversion and fiscal costs. But the recent rise in fuel prices has put pressure on governments to reinstate universal price subsidies. This brief reviews how governments have targeted subsidies to the lesser-off and the political challenge of ending untargeted subsidies
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  • 27
    Online Resource
    Online Resource
    Washington, D.C : The World Bank | Washington, D.C. : The World Bank Group
    Language: English
    Pages: 1 Online-Ressource (156 pages)
    DDC: 305.5620956
    Keywords: Capital ; Competition ; Connectiveness ; Contestability ; Jobs ; Labor Markets ; Labor Regulation ; Product Market ; Productivity ; Social Contract ; Structural Change ; Workers
    Abstract: A decade since the spark of the Arab Spring, the Middle East and North Africa (MENA) region continues to suffer from limited creation of more and better jobs. Youth face idleness and unemployment. For those who find jobs, informality awaits. Few women attempt to enter the world of work at all. Meanwhile, the available jobs are not those of the future. These labor market outcomes are being worsened by the coronavirus (COVID-19) pandemic. 'Jobs Undone: Reshaping the Role of Governments toward Markets and Workers in the Middle East and North Africa' explores ways to break these impasses, drawing on original research, survey data, wide-ranging literature, and young entrepreneurial voices from the region. The report finds that a prominent reason behind MENA's unmet jobs challenge is a lack of market contestability in the formal private sector. Few firms in the region enter the market, few grow, and those that exit are not necessarily less productive. Moreover, firms in the region invest little in physical capital, human capital, or research and development, and they tend to be politically connected. At the macro level, economic growth has been mediocre, labor productivity is not being driven by structural change, and the growth of the stock of capital per capita has declined. New evidence generated for this report shows that the lack of dynamism is due to the prevalence of state-owned enterprises (SOEs). They operate in sectors where there is little economic rationale for public activity and they enjoy favorable treatment--flouting the principles of competitive neutrality. Meanwhile, labor regulations add to market rigidity, while gendered laws restrict women's potential. To change this reality, the state must reshape its relationship toward markets, toward workers, (...)
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  • 28
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Financial Accountability Study
    Keywords: Access To Finance ; Finance and Development ; Finance and Financial Sector Development ; Financial Literacy ; Financial Regulation ; Financial Regulation and Supervision ; Public Sector Development
    Abstract: A national financial-inclusion strategy (NFIS) helps policy makers, in coordination with a wide range of stakeholders, define objectives and outline a set of impactful, sequenced actions to accelerate progress toward achieving financial-inclusion goals. Achieving greater financial inclusion requires a deliberate, coordinated approach to identify barriers and opportunities, and a platform for diverse stakeholders to coordinate efforts to achieve shared financial-inclusion objectives. NFIS implementation typically involves operationalizing governance arrangements to oversee implementation, establishing a framework for monitoring and evaluation (M and E) to capture progress regularly, implementing action plans to achieve financial-inclusion targets, and making necessary adjustments to address changing landscapes. In 2018, the World Bank Group (WBG) released a toolkit that provides financial-sector authorities and other stakeholders with practical guidance on developing and operationalizing an NFIS. After launching an NFIS, many factors influence and shape progress and success, and no two countries travel the same path during NFIS implementation. This note aims to build on existing NFIS knowledge by sharing insights that have helped improve implementation postlaunch. When used together with the WBG NFIS Toolkit, this note aims to support countries that are working to draft, launch, and implement an NFIS effectively
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  • 29
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Financial Accountability Study
    Keywords: Access To Finance ; Accountability ; Consumer Protection ; Finance and Development ; Finance and Financial Sector Development ; Financial Literacy ; Financial Regulation and Supervision ; Public Sector Development ; Transparency
    Abstract: While the importance of financial capability has been studied empirically, questions remain about program effectiveness, whether and how effectively these skills can be taught to consumers, and if financial education programs lead to sustained behavioral changes that improve one's financial wellness and inclusion. When studied analytically, the results of financial education have been mixed. The objective of this report is to help guide financial sector authorities to build a more effective approach to financial education. The report synthesizes available resources and complements existing knowledge about financial education. It also explores the appropriate role for financial sector authorities within financial education and outlines a practical approach for financial sector authorities who choose to develop financial education agendas or strategies. Lastly, the report provides an overview of the best tools and practices to improve the effectiveness of financial education initiatives
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  • 30
    ISBN: 9781464817700
    Language: English
    Pages: 1 Online-Ressource (pages cm)
    Parallel Title: Erscheint auch als
    Keywords: Climate Change ; Climate Impact ; Climate Policy ; Comparative Advantage ; Developing Countries ; Environmental Goods ; Environmental Services ; Extreme Weather ; Trade ; Trade Liberalization ; Trade Policy
    Abstract: While trade exacerbates climate change, it is also a central part of the solution because it has the potential to enhance mitigation and adaptation. This timely report explores the different ways in which trade and climate change intersect. Trade contributes to the emissions that cause global warming and is itself also affected by climate change through changing comparative advantages. The report also confronts several myths concerning trade and climate change. The Trade and Climate Change Nexus: The Urgency and Opportunities for Developing Countries focuses on the impacts of, and adjustments to, climate change in developing countries and on how future trade opportunities will be affected by both the changing climate and the policy responses to address it. The report discusses how trade can provide the goods and services that drive mitigation and adaptation. It also addresses how climate change creates immense challenges for developing countries, but also new opportunities to promote trade diversification in the transition to a low-carbon world. Suitable trade and environmental policies can offer effective economic incentives to attain both sustainable growth and poverty reduction--
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  • 31
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other papers
    Keywords: Access To Finance ; Developing Countries ; Finance and Financial Sector Development ; Trade ; Trade Policy ; Value Chains
    Abstract: This report aims to improve the knowledge base on the financing of trade and related data, institutions, and instruments. An improved knowledge base can support interventions that strengthen the infrastructure and the flow of funds underpinning the financing of trade in the context of value chains in client countries and regions. First, it defines trade finance and other ways in which trade is financed. Second, it provides an overview of trade financing supply and demand dynamics, including during the two recent global economic crises: the 2008-09 financial crisis and the 2020 COVID-19 crisis. Third, it discusses a policy agenda focused on how the World Bank Group and other international institutions and donors can more effectively support developing countries in meeting the growing demand in this area, including for (a) country-level technical assistance and diagnostic work, (b) improvement of the data infrastructure, and (c) global engagement and advocacy
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  • 32
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Financial Sector Assessment Program
    Keywords: E-Finance and E-Security ; Finance and Development ; Finance and Financial Sector Development ; Financial Literacy ; Financial Regulation ; Financial Regulation and Supervision ; Financial Structures ; Legal Framework ; Risk Management
    Abstract: This technical note, prepared based on the financial sector assessment program (FSAP) mission to the Philippines, presents the overview of retail payments in the country and assesses its various aspects against relevant international standards and guidance. The assessment covers twelve thematic areas, which include: (1) public and private sector commitment; (2) legal and regulatory framework; (3) governance arrangements; (4) market competitiveness; (5) financial and information and communications technology (ICT) infrastructures; (6) risk management; (7) access points; (8) product design; (9) awareness and financial literacy; (10) leveraging large-volume recurrent payment streams; (11) payment systems oversight; and (12) cooperation and information sharing. This paper aims to present a succinct but comprehensive assessment of the most important aspects of the retail payments market in the Philippines. The scope of the assessment also includes an examination of the nascent fintech ecosystem, insofar as it relates to the provision of payment services or using retail payment services and accompanying infrastructure to build other value-added products
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  • 33
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    ISBN: 9781464810176
    Language: English
    Pages: Online-Ressource (1 online resource (272 p.))
    Edition: Online-Ausg.
    Series Statement: Global Economic Prospects
    Series Statement: World Bank E-Library Archive
    Parallel Title: Druckausg.
    Keywords: Developing Countries ; Developing Economies ; Economic Growth ; Economic Prospects ; Emerging Markets
    Abstract: Stagnant global trade, subdued investment, and heightened policy uncertainty marked another difficult year for the world economy. A moderate recovery is expected for 2017, with receding obstacles to activity in commodity-exporting emerging market and developing economies. Weak investment is weighing on medium-term prospects across many emerging market and developing economies. Although fiscal stimulus in major economies, if implemented, may boost global growth above expectations, risks to growth forecasts remain tilted to the downside. Important downside risks stem from heightened policy uncertainty in major economies. In addition to discussing global and regional economic developments and prospects, this edition of Global Economic Prospects includes a chapter on the causes, consequences and policy implications of weak investment in emerging markets and developing economies, and a special focus on the role of the U.S. economy in the world. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing countries, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by these economies, while the June edition contains shorter analytical pieces
    Note: Description based on print version record
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 34
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    ISBN: 9781464803499 , 9781464803505
    Language: English
    Pages: Online-Ressource (1 online resource (p.)) , cm
    Edition: Online-Ausg.
    Series Statement: Disease control priorities volume 3
    Series Statement: World Bank E-Library Archive
    Uniform Title: Cancer
    Parallel Title: Druckausg.
    DDC: 362.19699400681
    Keywords: Neoplasms ; economics ; Neoplasms ; prevention & control ; Health Services Research ; economics ; Cost of Illness ; Developing Countries ; Neoplasms prevention & control ; Neoplasms economics ; Health Services Research economics
    Abstract: Summary and recommendations -- The changing global burden of cancer : transitions in human development and implications for cancer prevention and control -- Breast cancer -- Cervical cancer -- Oral cancer : prevention, early detection, and treatment -- Colorectal cancer -- Treating childhood cancer in low- and middle-income countries -- Liver cancer -- Cancer pain relief -- Global hazards of tobacco and the benefits of smoking cessation and tobacco taxes -- Cancer services and the comprehensive cancer center -- Screening for cancer : considerations for low- and middle-income countries -- Surgical services for cancer care -- Radiation therapy for cancer -- Need for national commitments to cancer research to guide public health investment and practice -- Cancer in low- and middle-income countries : an economic overview -- Financing cancer care in low-resource settings -- An extended cost-effectiveness analysis of publicly financed HPV vaccination to prevent cervical cancer in China
    Note: Includes bibliographical references and index. - Description based on print version record
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  • 35
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    ISBN: 9781464807787
    Language: English
    Pages: Online-Ressource (1 online resource (190 p.))
    Edition: Online-Ausg.
    Series Statement: Global Economic Prospects
    Series Statement: World Bank E-Library Archive
    Parallel Title: Druckausg.
    Keywords: Developing Countries ; Developing Economies ; Economic Growth ; Economic Prospects ; Emerging Markets ; Global Economy
    Abstract: Global growth prospects have deteriorated in 2016. Emerging market and developing economies are facing increased external headwinds, including softer growth in advanced economies. Commodity exporters are struggling with particularly challenging conditions, while commodity importers are thus far showing greater resilience. Global growth is expected to gradually accelerate in 2017-18 but risks to the outlook are increasingly more pronounced. In addition to discussing global and regional economic developments and prospects, this edition of Global Economic Prospects includes two Special Focus essays of critical importance for emerging and developing economies: an analysis of the buildup of private debt in emerging and frontier markets and a quantitative study of uncertainties surrounding global growth. This year marks the 25th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that has, since its inception in 1991, examined international economic developments and prospects, with a special focus on emerging market and developing economies. It has also included analytical essays on a wide range of topical macroeconomic, financial, and structural policy challenges faced by these economies. It is published on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges, while the June edition contains shorter analytical essays
    Note: Description based on print version record
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  • 36
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    ISBN: 9781464804830 , 9781464804854
    Language: English
    Pages: Online-Ressource (1 online resource (194 p.))
    Edition: Online-Ausg.
    Series Statement: Global Economic Prospects
    Series Statement: World Bank E-Library Archive
    Parallel Title: Druckausg.
    Keywords: Capital Flows ; Commodities ; Developing Countries ; Emerging Markets ; Financial Markets ; Global Economy ; Interest Rates ; Low Income Countries ; Oil Prices ; Poverty ; Trade ; US Economy
    Abstract: Global growth is expected to be 2.8 percent in 2015, but is expected to pick up to 3.2 percent in 2016-17. Growth in developing countries and some high-income countries is set to disappoint again this year. The prospect of rising borrowing costs will compound the challenges many developing countries are facing as they adapt to an era of low commodity prices. Risks to this outlook remain tilted to the downside. This edition of Global Economic Prospects includes two Special Features that analyze the policy challenges raised by the two transitions in developing countries: the risks associated with the first U.S. central bank interest rate increase since 2006 and the implications of persistently low commodity prices for low-income countries. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on developing countries, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by developing countries while the June edition contains shorter analytical pieces
    Note: Description based on print version record
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  • 37
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    ISBN: 9781464805608 , 9781464805615
    Language: English
    Pages: Online-Ressource (1 online resource (248 p.))
    Edition: Online-Ausg.
    Series Statement: World Development Indicators
    Series Statement: World Bank E-Library Archive
    Parallel Title: Druckausg.
    Keywords: Air Pollution ; Biodiversity ; Census ; Developing Countries ; Energy Use ; Food Production ; Forest Cover ; Household Surveys ; Millennium Development Goals ; Pollution
    Abstract: The Little Green Data Book 2015 is a pocket-sized ready reference on key environmental data for over 200 countries. Key indicators are organized under the headings of agriculture, forestry, biodiversity, oceans, energy, emission and pollution, and water and sanitation. For the third year, The Little Green Data Book presents a new set of ocean-related indicators, highlighting the role of oceans in economic development
    Note: Description based on print version record
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  • 38
    ISBN: 9780821386774
    Language: English
    Pages: xviii, 183 p , ill., graph Darst. , 23 cm
    Series Statement: Human development
    Series Statement: Perspectives
    DDC: 305.23109172/4
    Keywords: Cognition in children ; Children Economic conditions ; Children Social conditions ; Child Development ; Child, Preschool ; Cognition ; Developing Countries ; Infant ; Socioeconomic Factors ; Armut ; Entwicklungsländer ; Kleinkind ; Kognitive Entwicklung ; Soziale Situation ; Wirtschaftliche Lage ; Aufsatzsammlung ; Aufsatzsammlung ; Aufsatzsammlung ; Entwicklungsländer ; Kind ; Soziale Situation
    Description / Table of Contents: Cognitive development among young children in low-income countries -- The influence of economic crisis on early childhood development : a review of pathways and measured impact -- Conflicts, epidemics and orphanhood : the impact of extreme events on the health and educational achievements of children -- Promoting equity through early child development interventions for children from birth through three years of age -- The convergence of equity and efficiency in ECD programs.
    Note: Includes bibliographical references
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  • 39
    Language: English
    Pages: 1 Online-Ressource (xviii, 183 p) , ill , 23 cm
    Edition: Online edition s.l.
    Series Statement: Human development perspectives
    Series Statement: World Bank eLibrary
    DDC: 305.23109172/4
    Keywords: Children / Developing countries / Economic conditions ; Children / Developing countries / Social conditions ; Cognition in children / Developing countries ; Child Development ; Child, Preschool ; Cognition ; Developing Countries ; Infant ; Socioeconomic Factors
    Description / Table of Contents: Cognitive development among young children in low-income countriesThe influence of economic crisis on early childhood development : a review of pathways and measured impact -- Conflicts, epidemics and orphanhood : the impact of extreme events on the health and educational achievements of children -- Promoting equity through early child development interventions for children from birth through three years of age -- The convergence of equity and efficiency in ECD programs.
    Note: Includes bibliographical references
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  • 40
    Language: English
    Pages: Online-Ressource (1 online resource (28 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Hoekman, Bernard Regulatory Cooperation, Aid For Trade And The General Agreement On Trade In Services
    Keywords: Banks and Banking Reform ; Best Market ; Business Practice ; Developing Countries ; Economic Theory and Research ; Emerging Markets ; Free Trade ; Growth Rate ; International Cooperation ; International Economics & Trade ; Liberalization ; Macroeconomics and Economic Growth ; Market Access ; Private Sector Development ; Regulators ; Technological Change ; Trade and Services ; World Trade ; Banks and Banking Reform ; Best Market ; Business Practice ; Developing Countries ; Economic Theory and Research ; Emerging Markets ; Free Trade ; Growth Rate ; International Cooperation ; International Economics & Trade ; Liberalization ; Macroeconomics and Economic Growth ; Market Access ; Private Sector Development ; Regulators ; Technological Change ; Trade and Services ; World Trade ; Banks and Banking Reform ; Best Market ; Business Practice ; Developing Countries ; Economic Theory and Research ; Emerging Markets ; Free Trade ; Growth Rate ; International Cooperation ; International Economics & Trade ; Liberalization ; Macroeconomics and Economic Growth ; Market Access ; Private Sector Development ; Regulators ; Technological Change ; Trade and Services ; World Trade
    Abstract: This paper discusses what could be done to expand services trade and investment through a multilateral agreement in the World Trade Organization. A distinction is made between market access liberalization and the regulatory preconditions for benefiting from market opening. The authors argue that prospects for multilateral services liberalization would be enhanced by making national treatment the objective of World Trade Organization services negotiations, thereby clarifying the scope of World Trade Organization commitments for regulators. Moreover, liberalization by smaller and poorer members of the World Trade Organization would be facilitated by complementary actions to strengthen regulatory capacity. If pursued as part of the operationalization of the World Trade Organization's 2006 Aid for Trade taskforce report, the World Trade Organization could become more relevant in promoting not just services liberalization but, more importantly, domestic reforms of services policies
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  • 41
    Language: English
    Pages: Online-Ressource (1 online resource (34 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: H. Adams, Jr., Richard The Demographic, Economic And Financial Determinants of International Remittances In Developing Countries
    Keywords: Debt Markets ; Developing Countries ; Finance and Financial Sector Development ; Health, Nutrition and Population ; Level of poverty ; Macroeconomics and Economic Growth ; Migrant ; Migrants ; Migration ; Policy ReseaRch ; Policy ReseaRch WoRking PaPeR ; Population Policies ; Progress ; Remittance ; Remittances ; Remittances ; Debt Markets ; Developing Countries ; Finance and Financial Sector Development ; Health, Nutrition and Population ; Level of poverty ; Macroeconomics and Economic Growth ; Migrant ; Migrants ; Migration ; Policy ReseaRch ; Policy ReseaRch WoRking PaPeR ; Population Policies ; Progress ; Remittance ; Remittances ; Remittances ; Debt Markets ; Developing Countries ; Finance and Financial Sector Development ; Health, Nutrition and Population ; Level of poverty ; Macroeconomics and Economic Growth ; Migrant ; Migrants ; Migration ; Policy ReseaRch ; Policy ReseaRch WoRking PaPeR ; Population Policies ; Progress ; Remittance ; Remittances ; Remittances
    Abstract: What causes developing countries to receive different levels of international remittances? This paper addresses this question by using new data on such variables as the skill composition of migrants, poverty, and interest and exchange rates to examine the determinants of remittances. The paper finds that the skill composition of migrants does matter in remittance determination. Countries which export a larger share of high-skilled (educated) migrants receive less per capita remittances than countries which export a larger proportion of low-skilled migrants. It also finds that the level of poverty in a labor-sending country does not have a positive impact on the level of remittances received
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  • 42
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Agricultural Study
    Keywords: Accountability ; Audits ; Capacity Building ; Communications Technology ; Communities ; Concessional Lending ; Corruption ; Data Collection ; Developing Countries ; Development Outcomes ; Development Policy ; E-Business ; Economic Development ; Financial Management ; Flexibility ; Food Security ; GDP ; Good Governance ; Gross Domestic Product ; Health, Nutrition and Population ; Heavily Indebted Poor Countries ; Household Surveys ; Industry ; Innovation ; Living Standards ; Low-Income Countries ; Millennium Development Goals ; Population Policies ; Poverty Assessments ; Poverty Impact Evaluation ; Poverty Reduction ; Private Sector Development ; Project Management ; Purchasing Power ; Purchasing Power Parity ; Respect ; Rural Development ; Smallholders ; Social Development ; Technology Development ; Technology Industry ; Technology Transfer ; Transparency ; Web Sites
    Abstract: The purpose of this sourcebook is to pull together into a single document a collection of common sense tips and recommendations based on actual practices and experience around the world. The sourcebook aims first and foremost to help strengthen Monitoring and Evaluation (MandE) capacity at the national and sub-national levels, and to ensure a consistency of approach and methodology so that, at the global level, sufficient reliable and timely information can be accessed from the different countries and used to make cross-country comparisons and to calculate development indicators at the global level. The sourcebook is specifically targeted towards countries where conditions are less-than-ideal, particularly with respect to the availability of relevant information. The sourcebook also shows how a service delivery approach can be used to select indicators which can generate useful, easy-to-measure early outcome measures. It suggests that greater use be made of qualitative indicators, such as access, use and satisfaction. The sourcebook devotes considerable attention to the need for a strong statistical infrastructure and reviews the range of different statistical instruments available
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  • 43
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (48 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Claessens, Stijn Current Challenges In Financial Regulation
    Keywords: Bank ; Banking ; Banking Supervision ; Banks ; Banks and Banking Reform ; Basle Core Principles ; Capital ; Capital Markets ; Consolidation ; Debt Markets ; E-Finance and E-Security ; Economic Theory and Research ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial ; Financial Integration ; Financial Intermediation ; Financial Literacy ; Financial Regulation ; Labor Policies ; Macroeconomics and Economic Growth ; Non Bank Finance ; Private Sector Development ; Social Protections and Labor ; Bank ; Banking ; Banking Supervision ; Banks ; Banks and Banking Reform ; Basle Core Principles ; Capital ; Capital Markets ; Consolidation ; Debt Markets ; E-Finance and E-Security ; Economic Theory and Research ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial ; Financial Integration ; Financial Intermediation ; Financial Literacy ; Financial Regulation ; Labor Policies ; Macroeconomics and Economic Growth ; Non Bank Finance ; Private Sector Development ; Social Protections and Labor ; Bank ; Banking ; Banking Supervision ; Banks ; Banks and Banking Reform ; Basle Core Principles ; Capital ; Capital Markets ; Consolidation ; Debt Markets ; E-Finance and E-Security ; Economic Theory and Research ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial ; Financial Integration ; Financial Intermediation ; Financial Literacy ; Financial Regulation ; Labor Policies ; Macroeconomics and Economic Growth ; Non Bank Finance ; Private Sector Development ; Social Protections and Labor
    Abstract: Financial intermediation and financial services industries have undergone many changes in the past two decades due to deregulation, globalization, and technological advances. The framework for regulating finance has seen many changes as well, with approaches adapting to new issues arising in specific groups of countries or globally. The objectives of this paper are twofold: to review current international thinking on what regulatory framework is needed to develop a financial sector that is stable, yet efficient, and provides proper access to households and firms; and to review the key experiences regarding international financial architecture initiatives, with a special focus on issues arising for developing countries. The paper outlines a number of areas of current debate: the special role of banks, competition policy, consumer protection, harmonization of rules-across products, within markets, and globally-and the adaptation and legitimacy of international standards to the circumstances facing developing countries. It concludes with some areas where more research would be useful
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  • 44
    Language: English
    Pages: Online-Ressource (1 online resource (32 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Adams, Richard H. Jr International Remittances And The Household
    Keywords: Citizens ; Debt Markets ; Developing Countries ; Finance and Financial Sector Development ; Global Development ; Global Development Finance ; Health, Nutrition and Population ; Household Income ; Household Level ; International Migrants ; International Migration ; Level of Poverty ; Macroeconomics and Economic Growth ; Migration ; Population Policies ; Remittances ; Citizens ; Debt Markets ; Developing Countries ; Finance and Financial Sector Development ; Global Development ; Global Development Finance ; Health, Nutrition and Population ; Household Income ; Household Level ; International Migrants ; International Migration ; Level of Poverty ; Macroeconomics and Economic Growth ; Migration ; Population Policies ; Remittances ; Citizens ; Debt Markets ; Developing Countries ; Finance and Financial Sector Development ; Global Development ; Global Development Finance ; Health, Nutrition and Population ; Household Income ; Household Level ; International Migrants ; International Migration ; Level of Poverty ; Macroeconomics and Economic Growth ; Migration ; Population Policies ; Remittances
    Abstract: This paper examines the economic impact of international remittances on countries and households in the developing world. To analyze the country-level impact of remittances, the paper estimates an econometric model based on a new data set of 115 developing countries. Results suggest that countries located close to a major remittance-sending region (like the United States, OECD-Europe) are more likely to receive international remittances, and that while the level of poverty in a country has no statistical effect on the amount of remittances received, for those countries which are fortunate enough to receive remittances, these resource flows do tend to reduce the level and depth of poverty. At the household level, a review of findings from recent research suggest that households receiving international remittances spend less at the margin on consumption goods-like food-and more on investment goods-like education and housing. Households receiving international remittances also tend to invest more in entrepreneurial activities
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  • 45
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (55 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Lane, Philip R The International Financial Integration of China And India
    Keywords: Balance Sheets ; Bank Policy ; Borrowers ; Capital Flows ; Currencies and Exchange Rates ; Debt ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Equity ; Exchange ; Exchange Rate ; External Assets ; Finance and Financial Sector Development ; Financial Developments ; Financial Liberalization ; Financial Literacy ; Holdings ; Investment and Investment Climate ; Macroeconomics and Economic Growth ; Private Sector Development ; Balance Sheets ; Bank Policy ; Borrowers ; Capital Flows ; Currencies and Exchange Rates ; Debt ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Equity ; Exchange ; Exchange Rate ; External Assets ; Finance and Financial Sector Development ; Financial Developments ; Financial Liberalization ; Financial Literacy ; Holdings ; Investment and Investment Climate ; Macroeconomics and Economic Growth ; Private Sector Development ; Balance Sheets ; Bank Policy ; Borrowers ; Capital Flows ; Currencies and Exchange Rates ; Debt ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Equity ; Exchange ; Exchange Rate ; External Assets ; Finance and Financial Sector Development ; Financial Developments ; Financial Liberalization ; Financial Literacy ; Holdings ; Investment and Investment Climate ; Macroeconomics and Economic Growth ; Private Sector Development
    Abstract: Three main features characterize the international financial integration of China and India. First, while only having a small global share of privately-held external assets and liabilities (with the exception of China's foreign direct investment liabilities), these countries are large holders of official reserves. Second, their international balance sheets are highly asymmetric: both are "short equity, long debt." Third, China and India have improved their net external positions over the past decade although, based on their income level, neoclassical models would predict them to be net borrowers. Domestic financial developments and policies seem essential in understanding these patterns of integration. These include financial liberalization and exchange rate policies, domestic financial sector policies, and the impact of financial reform on savings and investment rates. Changes in these factors will affect the international financial integration of China and India (through shifts in capital flows and asset and liability holdings) and, consequently, the international financial system
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  • 46
    Language: English
    Pages: Online-Ressource (1 online resource (29 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Luo, Xubei Regional Disparities In Labor Market Performance In Croatia
    Keywords: Age Groups ; Earning ; Employment Rate ; Employment Service ; Finance and Financial Sector Development ; Financial Literacy ; Human Capital ; Job ; Labor ; Labor ; Labor Force ; Labor Force Participation ; Labor Market ; Labor Market Development ; Labor Markets ; Labor Policies ; Social Protections and Labor ; Age Groups ; Earning ; Employment Rate ; Employment Service ; Finance and Financial Sector Development ; Financial Literacy ; Human Capital ; Job ; Labor ; Labor ; Labor Force ; Labor Force Participation ; Labor Market ; Labor Market Development ; Labor Markets ; Labor Policies ; Social Protections and Labor ; Age Groups ; Earning ; Employment Rate ; Employment Service ; Finance and Financial Sector Development ; Financial Literacy ; Human Capital ; Job ; Labor ; Labor ; Labor Force ; Labor Force Participation ; Labor Market ; Labor Market Development ; Labor Markets ; Labor Policies ; Social Protections and Labor
    Abstract: The labor market performance in Croatia failed to keep pace with the moderately good overall macroeconomic development in the past few years. Youth, the less well-educated, and women face more difficulties in getting a job with a decent salary. A large part of the difference in regional labor market performance is associated with the difference in the human capital endowment. With a stagnant total employment rate, the large disparities in employment and earnings across individual groups and regions have become one of the concerns for the long-term sustainable development of the economy. Using Labor Force Survey (LFS) data from 2002-04, this paper studies the labor market performance in Croatia at the national and regional levels. The results show that both one's individual characteristics (including age, education and gender) and where he or she works plays a role in his or her employment and earnings. Regional differences in employment and earnings are reduced to a large extent when accounting for differences in individual characteristics. The simulations shed light on the effectiveness of the nationwide education policy and regional specific labor market policy, and suggest that improving human capital endowment and adjusting labor market structure are both important to rebalance regional development and enhance total welfare
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  • 47
    Language: English
    Pages: Online-Ressource (1 online resource (35 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Isik-Dikmelik, Aylin The Role of Services In Rural Income
    Keywords: Alternative Transport ; Communities & Human Settlements ; Costs ; Economic Theory and Research ; Finance and Financial Sector Development ; Financial Literacy ; Good Transport ; Housing and Human Habitats ; Infrastructure ; Macroeconomics and Economic Growth ; Poverty Reduction ; Price Changes ; Public Transport ; Public Transportation ; Quality of Transport ; Road ; Road Network ; Road Quality ; Rural Development ; Rural Poverty Reduction ; Transport ; Transport Economics, Policy and Planning ; Alternative Transport ; Communities & Human Settlements ; Costs ; Economic Theory and Research ; Finance and Financial Sector Development ; Financial Literacy ; Good Transport ; Housing and Human Habitats ; Infrastructure ; Macroeconomics and Economic Growth ; Poverty Reduction ; Price Changes ; Public Transport ; Public Transportation ; Quality of Transport ; Road ; Road Network ; Road Quality ; Rural Development ; Rural Poverty Reduction ; Transport ; Transport Economics, Policy and Planning ; Alternative Transport ; Communities & Human Settlements ; Costs ; Economic Theory and Research ; Finance and Financial Sector Development ; Financial Literacy ; Good Transport ; Housing and Human Habitats ; Infrastructure ; Macroeconomics and Economic Growth ; Poverty Reduction ; Price Changes ; Public Transport ; Public Transportation ; Quality of Transport ; Road ; Road Network ; Road Quality ; Rural Development ; Rural Poverty Reduction ; Transport ; Transport Economics, Policy and Planning
    Abstract: This paper investigates the role of services in the household response to trade reforms in Vietnam. The relative response of the households and income growth after a major trade liberalization in rice are analyzed aiming to answer the following questions: What type of households, in which locations, having access to what type of services, benefited more from the reforms? It focuses on services that have an impact on transaction costs (roads or quality of roads, public transportation, access to credit, extension services, and availability of markets in communication services) because transaction costs are often cited as a barrier to rural households in responding to the price changes and increased incentives offered by trade and other policy reforms. The results suggest that availability of production related services contributes positively to the impact of trade reforms. Although most of the service variables have a positive and significant effect on growth in income, some that are expected to have an impact are not significant. This may be explained by the exceptional coverage of infrastructure services in Vietnam even before the reforms. When service availability is very similar across different localities, household characteristics become more important in determining the response
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  • 48
    Language: English
    Pages: Online-Ressource (1 online resource (40 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Oyefusi, Aderoju Oil And The Propensity To Armed Struggle In The Niger Delta Region of Nigeria
    Keywords: Civil Conflict ; Civil War ; Conflict and Development ; Disability ; Economic Theory and Research ; Education ; Education and Society ; Educational Attainment ; Environmental Damage ; Ethnic Group ; Ethnic Groups ; Finance and Financial Sector Development ; Financial Literacy ; Health, Nutrition and Population ; Immigration ; Macroeconomics and Economic Growth ; Minority ; Natural Resource ; Natural Resources ; Policy ; Political Economy ; Population Policies ; Post Conflict Reconstruction ; Social Conflict and Violence ; Social Development ; Social Protections and Labor ; Civil Conflict ; Civil War ; Conflict and Development ; Disability ; Economic Theory and Research ; Education ; Education and Society ; Educational Attainment ; Environmental Damage ; Ethnic Group ; Ethnic Groups ; Finance and Financial Sector Development ; Financial Literacy ; Health, Nutrition and Population ; Immigration ; Macroeconomics and Economic Growth ; Minority ; Natural Resource ; Natural Resources ; Policy ; Political Economy ; Population Policies ; Post Conflict Reconstruction ; Social Conflict and Violence ; Social Development ; Social Protections and Labor ; Civil Conflict ; Civil War ; Conflict and Development ; Disability ; Economic Theory and Research ; Education ; Education and Society ; Educational Attainment ; Environmental Damage ; Ethnic Group ; Ethnic Groups ; Finance and Financial Sector Development ; Financial Literacy ; Health, Nutrition and Population ; Immigration ; Macroeconomics and Economic Growth ; Minority ; Natural Resource ; Natural Resources ; Policy ; Political Economy ; Population Policies ; Post Conflict Reconstruction ; Social Conflict and Violence ; Social Development ; Social Protections and Labor
    Abstract: This paper attempts to explain the determinants of the propensity to armed struggle and the probability of participation by individuals in the Niger Delta region of Nigeria using primary (micro) data. While grievance appears to be pervasive among individuals and communities in the region and can be systematically explained, neither the grievance level nor its commonly cited causal factors appear to be strong enough to create a disposition toward armed rebellion. Rather, factors that reduce the opportunity cost and risk of participation or increase the perceived benefits appear to be more important. The study identifies three of these factors that are amenable to the policymaker's (government's) control as income level, educational attainment, and government presence
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  • 49
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (36 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Zhu, Tian Formal Finance And Trade Credit During China's Transition
    Keywords: Access To Cred Bank ; Banks and Banking Reform ; Business School ; Buyers ; Cred Customers ; Debt Markets ; Economic Activity ; Economic Theory and Research ; Finance ; Finance and Financial Sector Development ; Financial Crisis Management and Restructuring ; Financial Institutions ; Financial Intermediaries ; Financial Intermediation ; Financial Literacy ; Financial Support ; Information ; Investment and Investment Climate ; Loans ; Macroeconomics and Economic Growth ; Private Sector Development ; Access To Cred Bank ; Banks and Banking Reform ; Business School ; Buyers ; Cred Customers ; Debt Markets ; Economic Activity ; Economic Theory and Research ; Finance ; Finance and Financial Sector Development ; Financial Crisis Management and Restructuring ; Financial Institutions ; Financial Intermediaries ; Financial Intermediation ; Financial Literacy ; Financial Support ; Information ; Investment and Investment Climate ; Loans ; Macroeconomics and Economic Growth ; Private Sector Development ; Access To Cred Bank ; Banks and Banking Reform ; Business School ; Buyers ; Cred Customers ; Debt Markets ; Economic Activity ; Economic Theory and Research ; Finance ; Finance and Financial Sector Development ; Financial Crisis Management and Restructuring ; Financial Institutions ; Financial Intermediaries ; Financial Intermediation ; Financial Literacy ; Financial Support ; Information ; Investment and Investment Climate ; Loans ; Macroeconomics and Economic Growth ; Private Sector Development
    Abstract: Using a large panel dataset of Chinese industrial firms, the authors examine the determinants of access to loans from formal financial intermediaries and extension of trade credit. Poorly performing state-owned enterprises were more likely to redistribute credit to firms with less privileged access to loans through trade credit, a pattern consistent with some of the extension of trade credit being involuntary. By contrast, profitable private domestic firms were more likely to extend trade credit than unprofitable ones. Trade credit likely provided a substitute for loans for these private firms' customers that were shut out of formal credit markets. As biases in lending became less severe, the amount of trade credit extended by private firms declined
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  • 50
    Language: English
    Pages: Online-Ressource (1 online resource (37 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Mohapatra, Sanket Shadow Sovereign Ratings For Unrated Developing Countries
    Keywords: Access to Finance ; Bankruptcy and Resolution of Financial Distress ; Capital flows ; Debt Markets ; Developing Countries ; Economic Theory and Research ; Emerging Markets ; Emerging market ; Emerging market economies ; Equity markets ; Finance and Financial Sector Development ; Foreign currency ; International bond ; Loan ; Macroeconomics and Economic Growth ; Private Sector Development ; Sovereign Ratings ; Sovereign rating ; Access to Finance ; Bankruptcy and Resolution of Financial Distress ; Capital flows ; Debt Markets ; Developing Countries ; Economic Theory and Research ; Emerging Markets ; Emerging market ; Emerging market economies ; Equity markets ; Finance and Financial Sector Development ; Foreign currency ; International bond ; Loan ; Macroeconomics and Economic Growth ; Private Sector Development ; Sovereign Ratings ; Sovereign rating ; Access to Finance ; Bankruptcy and Resolution of Financial Distress ; Capital flows ; Debt Markets ; Developing Countries ; Economic Theory and Research ; Emerging Markets ; Emerging market ; Emerging market economies ; Equity markets ; Finance and Financial Sector Development ; Foreign currency ; International bond ; Loan ; Macroeconomics and Economic Growth ; Private Sector Development ; Sovereign Ratings ; Sovereign rating
    Abstract: The authors attempt to predict sovereign ratings for developing countries that do not have risk ratings from agencies such as Fitch, Moody's, and Standard and Poor's. Ratings affect capital flows to developing countries through international bond, loan, and equity markets. Sovereign rating also acts as a ceiling for the foreign currency rating of sub-sovereign borrowers. As of the end of 2006, however, only 86 developing countries have been rated by the rating agencies. Of these, 15 countries have not been rated since 2004. Nearly 70 developing countries have never been rated. The results indicate that the unrated countries are not always at the bottom of the rating spectrum. Several unrated poor countries appear to have a "B" or higher rating, in a similar range as the emerging market economies with capital market access. Drawing on the literature, the analysis presents a stylized relationship between borrowing costs and the credit rating of sovereign bonds. The launch spread rises as the credit rating deteriorates, registering a sharp rise at the investment grade threshold. Based on these findings, a case can be made in favor of helping poor countries obtain credit ratings not only for sovereign borrowing, but for sub-sovereign entities' access to international debt and equity capital. The rating model, along with the stylized relationship between spreads and ratings can be useful for securitization and other financial structures, and for leveraging official aid for improving borrowing terms in poor countries
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  • 51
    Language: English
    Pages: Online-Ressource (1 online resource (62 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: A. Gomez-Ibanez, Jose Alternatives To Infrastructure Privatization Revisited
    Keywords: Capital Markets ; Debt Markets ; Developing Countries ; E-Business ; Emerging Markets ; Finance and Financial Sector Development ; Financial Support ; Government Capacity ; Information Asymmetry ; Infrastructure Economics and Finance ; International Bank ; Legal System ; Microfinance ; Political Economy ; Private Capital ; Private Investors ; Private Participation in Infrastructure ; Private Sector Development ; Capital Markets ; Debt Markets ; Developing Countries ; E-Business ; Emerging Markets ; Finance and Financial Sector Development ; Financial Support ; Government Capacity ; Information Asymmetry ; Infrastructure Economics and Finance ; International Bank ; Legal System ; Microfinance ; Political Economy ; Private Capital ; Private Investors ; Private Participation in Infrastructure ; Private Sector Development ; Capital Markets ; Debt Markets ; Developing Countries ; E-Business ; Emerging Markets ; Finance and Financial Sector Development ; Financial Support ; Government Capacity ; Information Asymmetry ; Infrastructure Economics and Finance ; International Bank ; Legal System ; Microfinance ; Political Economy ; Private Capital ; Private Investors ; Private Participation in Infrastructure ; Private Sector Development
    Abstract: Frustration with the performance of State-owned enterprises (SOEs) has led to two rounds of reform: the first round, from the 1960s through the 1980s, attempted to improve SOE performance while maintaining public ownership while the second, beginning in the late 1980s, viewed privatization as the answer. Interest in the earlier round of reform has increased recently as controversy has slowed or halted privatization in many countries, especially for SOEs providing infrastructure services that are basic to everyday life and are thought to have elements of monopoly. This paper reexamines the earlier round of reforms, focusing particularly on efforts to increase the firms' capacity with infusions of human and physical capital, to strengthen managerial incentives through performance contracts and corporatization and to alter the mix of political and economic forces that impinge on the firm by strengthening the involvement of taxpayers, customers or private investors. The review suggests that these earlier approaches generated only modest success but that some of them, selectively applied, may be helpful in improving the performance of infrastructure firms that remain in public hands
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  • 52
    Language: English
    Pages: Online-Ressource (1 online resource (21 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Claessens, Stijn Location Decisions of Foreign Banks And Competitive Advantage
    Keywords: Affiliates ; Bank ; Banking ; Banking Sector ; Banks and Banking Reform ; Consolidation ; Country Strategy and Performance ; Debt Markets ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Integration ; Financial Literacy ; Financial Markets ; Financial Services ; Foreign Banks ; Foreign Direct Investment ; Foreign Entry ; Internation ; International Economics & Trade ; Macroeconomics and Economic Growth ; Private Sector Development ; Affiliates ; Bank ; Banking ; Banking Sector ; Banks and Banking Reform ; Consolidation ; Country Strategy and Performance ; Debt Markets ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Integration ; Financial Literacy ; Financial Markets ; Financial Services ; Foreign Banks ; Foreign Direct Investment ; Foreign Entry ; Internation ; International Economics & Trade ; Macroeconomics and Economic Growth ; Private Sector Development ; Affiliates ; Bank ; Banking ; Banking Sector ; Banks and Banking Reform ; Consolidation ; Country Strategy and Performance ; Debt Markets ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Integration ; Financial Literacy ; Financial Markets ; Financial Services ; Foreign Banks ; Foreign Direct Investment ; Foreign Entry ; Internation ; International Economics & Trade ; Macroeconomics and Economic Growth ; Private Sector Development
    Abstract: While institutional differences have been found to affect country growth patterns, much has remained unexplained, including how economic actors "overcome" institutional weaknesses and how internationalization helps or hinders development. Banking is an institutionally-intensive activity and the location decision of foreign banks provides a good test of how institutional differences are dealt with and how they may affect economic choices. Specifically, the authors examine whether banks seek out those markets where institutional familiarity provides them with a competitive advantage over other foreign competitor banks. Using bilateral data on banking sector foreign direct investment in all developing countries and controlling for other factors, they find that competitive advantage is an important factor in driving foreign banks' location decisions. The findings suggest that high institutional quality is not necessarily a prerequisite to attract foreign direct investment in banking and that there are specific benefits, as well as risks, to international financial integration between developing countries
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  • 53
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (18 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Kim, Namsuk The Impact of Remittances On Labor Supply
    Keywords: Finance and Financial Sector Development ; Financial Literacy ; Finding Jobs ; Health, Nutrition and Population ; High Unemployment ; High Unemployment Rates ; High Wage ; Job ; Labor ; Labor Force ; Labor Force Participation ; Labor Market ; Labor Markets ; Labor Markets ; Labor Policies ; Labor Productivity ; Population Policies ; Social Protections and Labor ; Finance and Financial Sector Development ; Financial Literacy ; Finding Jobs ; Health, Nutrition and Population ; High Unemployment ; High Unemployment Rates ; High Wage ; Job ; Labor ; Labor Force ; Labor Force Participation ; Labor Market ; Labor Markets ; Labor Markets ; Labor Policies ; Labor Productivity ; Population Policies ; Social Protections and Labor ; Finance and Financial Sector Development ; Financial Literacy ; Finding Jobs ; Health, Nutrition and Population ; High Unemployment ; High Unemployment Rates ; High Wage ; Job ; Labor ; Labor Force ; Labor Force Participation ; Labor Market ; Labor Markets ; Labor Markets ; Labor Policies ; Labor Productivity ; Population Policies ; Social Protections and Labor
    Abstract: A puzzle in the recently stagnated economy of Jamaica is that high rates of unemployment have persisted even when real wages have been increasing. This paper examines aspects of the labor supply in an effort to understand why high rates of unemployment have existed with increasing real wages. This is a sign of a badly functioning labor market. The cross-sectional analysis suggests that remittances have some impact on labor supply, especially on labor market participation. The pseudo panel data analysis also confirms that remittances have a strong impact on labor participation but not on weekly working hours. Households with remittance income have a higher reservation wage and have reduced the supply of labor by moving out of the labor force
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  • 54
    Language: English
    Pages: Online-Ressource (1 online resource (29 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Bussolo, Maurizio Do Remittances Have A Flip Side ?
    Keywords: Currencies and Exchange Rates ; Debt Markets ; Economic Growth ; Economic Theory and Research ; Effects ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; General Equilibrium ; High Unemployment ; Information ; Investment ; Labor ; Labor ; Labor Costs ; Labor Demand ; Labor Force ; Labor Force Participation ; Labor Markets ; Labor Policies ; Macroeconomics and Economic Growth ; Private Sector Development ; Social Protections and Labor ; Currencies and Exchange Rates ; Debt Markets ; Economic Growth ; Economic Theory and Research ; Effects ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; General Equilibrium ; High Unemployment ; Information ; Investment ; Labor ; Labor ; Labor Costs ; Labor Demand ; Labor Force ; Labor Force Participation ; Labor Markets ; Labor Policies ; Macroeconomics and Economic Growth ; Private Sector Development ; Social Protections and Labor ; Currencies and Exchange Rates ; Debt Markets ; Economic Growth ; Economic Theory and Research ; Effects ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; General Equilibrium ; High Unemployment ; Information ; Investment ; Labor ; Labor ; Labor Costs ; Labor Demand ; Labor Force ; Labor Force Participation ; Labor Markets ; Labor Policies ; Macroeconomics and Economic Growth ; Private Sector Development ; Social Protections and Labor
    Abstract: Econometric analysis has established a negative relationship between labor supply and remittances in Jamaica. The authors incorporate this ex-post evidence in a general equilibrium model to investigate economywide effects of increased remittance inflows. In this model, remittances reduce labor force participation by increasing the reservation wages of recipients. This exacerbates the real exchange rate appreciation, hurting Jamaica's export base and small manufacturing import-competing sector. Within the narrow margins of maneuver of a highly indebted government, the authors show that a revenue-neutral policy response of a simultaneous reduction in payroll taxes and increase in sales taxes can effectively counteract these potentially negative effects of remittances
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  • 55
    Language: English
    Pages: Online-Ressource (1 online resource (49 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Claessens, Stijn International Financial Integration Through Equity Markets
    Keywords: Access To Capital ; Bank Policy ; Budget ; Capital Markets ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Equity ; Equity Markets ; Exchange ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Financial Markets ; Financial Support ; Globalization ; International Economy ; Macroeconomics and Economic Growth ; Markets and Market Access ; Microfinance ; Private Sector Development ; Small Scale Enterprises ; Access To Capital ; Bank Policy ; Budget ; Capital Markets ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Equity ; Equity Markets ; Exchange ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Financial Markets ; Financial Support ; Globalization ; International Economy ; Macroeconomics and Economic Growth ; Markets and Market Access ; Microfinance ; Private Sector Development ; Small Scale Enterprises ; Access To Capital ; Bank Policy ; Budget ; Capital Markets ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Equity ; Equity Markets ; Exchange ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Financial Markets ; Financial Support ; Globalization ; International Economy ; Macroeconomics and Economic Growth ; Markets and Market Access ; Microfinance ; Private Sector Development ; Small Scale Enterprises
    Abstract: The authors study international financial integration analyzing firms from various countries raising capital, trading equity, and cross-listing in major world stock markets. Using a large sample of 39,517 firms from 111 countries covering the period 1989-2000, they find that, although international financial integration increases substantially over this period, only relatively few countries and firms actively participate in international markets. Firms more likely to internationalize are from larger and more open economies, with higher income, better macroeconomic policies, and worse institutional environments. These firms tend to be larger, grow faster, and have higher returns and more foreign sales. While changes occur with internationalization, these firm attributes are present before internationalization takes place. The results suggest that international financial integration will likely remain constrained by country and firm characteristics
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  • 56
    Language: English
    Pages: Online-Ressource (1 online resource (30 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Ladekarl, Jeppe The Use of Derivatives To Hedge Embedded Options
    Keywords: Balance Sheets ; Contracts ; Debt Markets ; Emerging Markets ; Equity ; Equity Markets ; Finance and Financial Sector Development ; Financial Literacy ; Guarantee ; Guarantees ; Hedge ; Interest ; Interest Rate ; Interest Rates ; Liabilities ; Liability ; Liability Management ; Private Sector Development ; Balance Sheets ; Contracts ; Debt Markets ; Emerging Markets ; Equity ; Equity Markets ; Finance and Financial Sector Development ; Financial Literacy ; Guarantee ; Guarantees ; Hedge ; Interest ; Interest Rate ; Interest Rates ; Liabilities ; Liability ; Liability Management ; Private Sector Development ; Balance Sheets ; Contracts ; Debt Markets ; Emerging Markets ; Equity ; Equity Markets ; Finance and Financial Sector Development ; Financial Literacy ; Guarantee ; Guarantees ; Hedge ; Interest ; Interest Rate ; Interest Rates ; Liabilities ; Liability ; Liability Management ; Private Sector Development
    Abstract: The main purpose of this paper is to examine the growing use of derivatives by Danish pension institutions as a risk management tool to hedge embedded options on their balance sheets. Throughout the 1980s and 1990s it was a widespread practice for Danish pension institutions to guarantee a minimum interest rate on new pension policies. With the new millennium global interest rates declined steeply and equity markets came crashing down. Suddenly the guarantees on pension contracts were in the money. The policies already written could not be changed, leaving liabilities and assets mismatched, profits in the red, and capital reserves drained. Out of necessity, and in some cases virtue, Danish pension institutions turned in scale to derivatives, allowing for a more active approach to hedging, asset and liability management, and even profit generation. Through the use of derivatives, pension institutions have avoided the need to renegotiate their guaranteed contracts with policy holders. They have succeeded as an industry in transforming their pay-off curves and have emerged with better matched asset/liability positions and lower exposure to interest rate risk. But the expanded use of derivatives also raises some risk management and regulatory issues, such as operational and counterparty risks as well as effective internal control systems and regulatory oversight
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  • 57
    Language: English
    Pages: Online-Ressource (1 online resource (71 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Bandiera, Luca The "How To" of Fiscal Sustainability
    Keywords: Bank Policy ; Contingent Liabilities ; Currencies and Exchange Rates ; Debt ; Debt Data ; Debt Management ; Debt Markets ; Defic Developing Countries ; Economic Theory and Research ; Emerging Markets ; Exchange ; Exchange Rate ; External Debt ; External Debt ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal Policy ; Inflation ; International Economics & Trade ; Macroeconomics and Economic Growth ; Marke ; Private Sector Development ; Bank Policy ; Contingent Liabilities ; Currencies and Exchange Rates ; Debt ; Debt Data ; Debt Management ; Debt Markets ; Defic Developing Countries ; Economic Theory and Research ; Emerging Markets ; Exchange ; Exchange Rate ; External Debt ; External Debt ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal Policy ; Inflation ; International Economics & Trade ; Macroeconomics and Economic Growth ; Marke ; Private Sector Development ; Bank Policy ; Contingent Liabilities ; Currencies and Exchange Rates ; Debt ; Debt Data ; Debt Management ; Debt Markets ; Defic Developing Countries ; Economic Theory and Research ; Emerging Markets ; Exchange ; Exchange Rate ; External Debt ; External Debt ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal Policy ; Inflation ; International Economics & Trade ; Macroeconomics and Economic Growth ; Marke ; Private Sector Development
    Abstract: Fiscal sustainability analysis (FSA) is an important component of macroeconomic analysis for many developing countries. To further enhance understanding of fiscal policy and the constraints faced by policymakers, the authors develop a toolkit for FSA in middle-income countries which builds on previous work in this area and on new developments in dealing with uncertainty. The FSA toolkit includes an Excel-based FSA tool and a technical manual accompanying it. The FSA tool is standardized and simple, but at the same time flexible enough to allow for user-defined country-specifics. This manual provides step-by-step technical instructions for running the FSA tool and includes mathematical appendices and a glossary
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  • 58
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (45 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: O'Keefe, Philip Enterprises, Workers, And Skills In Urban Timor-Leste
    Keywords: Basic Literacy ; Economic Volatility ; Employment ; Female Labor ; Female Labor Force ; Finance and Financial Sector Development ; Financial Literacy ; Firm Growth ; Health, Nutrition and Population ; Human Capital ; Job ; Job Creation ; Labor ; Labor Force ; Labor Force Particip ; Labor Markets ; Labor Policies ; Microfinance ; Population Policies ; Social Protections and Labor ; Basic Literacy ; Economic Volatility ; Employment ; Female Labor ; Female Labor Force ; Finance and Financial Sector Development ; Financial Literacy ; Firm Growth ; Health, Nutrition and Population ; Human Capital ; Job ; Job Creation ; Labor ; Labor Force ; Labor Force Particip ; Labor Markets ; Labor Policies ; Microfinance ; Population Policies ; Social Protections and Labor ; Basic Literacy ; Economic Volatility ; Employment ; Female Labor ; Female Labor Force ; Finance and Financial Sector Development ; Financial Literacy ; Firm Growth ; Health, Nutrition and Population ; Human Capital ; Job ; Job Creation ; Labor ; Labor Force ; Labor Force Particip ; Labor Markets ; Labor Policies ; Microfinance ; Population Policies ; Social Protections and Labor
    Abstract: Like many low-income countries, Timor-Leste faces challenges in providing employment for and increasing the skills of its labor force-challenges made more acute by high fertility rates, a very young population, and the capacity constraints of a new nation. However, there is limited information for policymakers to formulate appropriate policies. The paper presents findings of the first urban enterprise survey in independent Timor-Leste. It explores several aspects of the Timorese urban labor market, including the profile of formal and informal enterprises, their behavior in terms of employment and wage-setting practices, and constraints on firm growth. It also presents findings on the skills and training needs of urban employers, and constraints faced in overcoming skills shortages. It finds a highly informal urban enterprise scene, where even "formal" enterprises are largely micro-enterprises. While there has been considerable action in terms of new firm creation since independence, there is already surprisingly low job creation or destruction. This is driven by a number of constraints inside and outside the labor market. With respect to wages, the impacts of the informal minimum wage policy inherited from the interim international administration suggest the need for caution in future wage policy development. While employers identify many skills gaps, basic literacy, numeracy, and language skill needs dominate, and employers appear to value short courses and less formal modes of skills training to address their needs. The paper concludes with suggestions for addressing the key constraints identified
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  • 59
    Language: English
    Pages: Online-Ressource (1 online resource (50 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Stephanou, Constantinos Financial Services And Trade Agreements In Latin America And The Caribbean
    Keywords: Banks and Banking Reform ; Barriers ; Debt Markets ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Financial Institutions ; Financial Integration ; Financial Literacy ; Financial Market ; Financial Services ; Financial System ; Financial Systems ; Foreign Bank ; Free Trad ; Free Trade ; International Economics & Trade ; Law and Development ; Private Sector Development ; Public Sector Corruption and Anticorruption Measures ; Trade Law ; Trade and Regional Integration ; Trade and Services ; Banks and Banking Reform ; Barriers ; Debt Markets ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Financial Institutions ; Financial Integration ; Financial Literacy ; Financial Market ; Financial Services ; Financial System ; Financial Systems ; Foreign Bank ; Free Trad ; Free Trade ; International Economics & Trade ; Law and Development ; Private Sector Development ; Public Sector Corruption and Anticorruption Measures ; Trade Law ; Trade and Regional Integration ; Trade and Services ; Banks and Banking Reform ; Barriers ; Debt Markets ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Financial Institutions ; Financial Integration ; Financial Literacy ; Financial Market ; Financial Services ; Financial System ; Financial Systems ; Foreign Bank ; Free Trad ; Free Trade ; International Economics & Trade ; Law and Development ; Private Sector Development ; Public Sector Corruption and Anticorruption Measures ; Trade Law ; Trade and Regional Integration ; Trade and Services
    Abstract: The authors review the international framework governing trade in financial services, describe the treatment of financial services in recent trade agreements involving Latin America and Caribbean countries, and analyze the liberalization commitments made in three selected country case studies-Chile, Colombia, and Costa Rica. They give emphasis to free trade agreements because of the generally deeper level of liberalization and rule-making achieved to-date. The authors discuss some of the causes and potential implications of their findings
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  • 60
    Language: English
    Pages: Online-Ressource (1 online resource (28 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Kessides, Ioannis N The Pricing Dynamics of Utilities With Underdeveloped Networks
    Keywords: Choice ; Consumers ; Costs ; Debt Markets ; Demand ; Discount Rate ; Diseconomies of Scale ; E-Business ; Economic Efficiency ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Incentives ; Investment ; Low Tariffs ; Macroeconomics and Economic Growth ; Marginal Costs ; Markets and Market Access ; Monopoly ; Optimization ; Private Sector Development ; Urban Water Supply and Sanitation ; Water Supply and Sanitation ; Choice ; Consumers ; Costs ; Debt Markets ; Demand ; Discount Rate ; Diseconomies of Scale ; E-Business ; Economic Efficiency ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Incentives ; Investment ; Low Tariffs ; Macroeconomics and Economic Growth ; Marginal Costs ; Markets and Market Access ; Monopoly ; Optimization ; Private Sector Development ; Urban Water Supply and Sanitation ; Water Supply and Sanitation ; Choice ; Consumers ; Costs ; Debt Markets ; Demand ; Discount Rate ; Diseconomies of Scale ; E-Business ; Economic Efficiency ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Incentives ; Investment ; Low Tariffs ; Macroeconomics and Economic Growth ; Marginal Costs ; Markets and Market Access ; Monopoly ; Optimization ; Private Sector Development ; Urban Water Supply and Sanitation ; Water Supply and Sanitation
    Abstract: This paper uses an analytically tractable intertemporal framework for analyzing the dynamic pricing of a utility with an underdeveloped network (a typical case in most developing countries) facing a competitive fringe, short-run network adjustment costs, theft of service, and the threat of a retaliatory regulatory review that is increasing with the price it charges. This simple dynamic optimization model yields a number of powerful policy insights and conclusions. Under a variety of plausible assumptions (in the context of developing countries) the utility will find its long-run profits enhanced if it exercises restraint in the early stages of network development by holding price below the limit defined by the unit costs of the fringe. The utility's optimal price gradually converges toward the limit price as its network expands. Moreover, when the utility is threatened with retaliatory regulatory intervention, it will generally have incentives to restrain its pricing behavior. These findings have important implications for the design of post-privatization regulatory governance in developing countries
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  • 61
    Language: English
    Pages: Online-Ressource (1 online resource (26 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Ghesquiere, Francis Sovereign Natural Disaster Insurance For Developing Countries
    Keywords: Banks and Banking Reform ; Debt Markets ; Developing Countries ; Environment ; Expenditures ; Finance and Financial Sector Development ; Hazard Risk Management ; Insurance ; Insurance and Risk Mitigation ; Long-term resource ; Natural Disaster ; Natural Disasters ; Private investors ; Public investment ; Risk Management ; Safety Net ; Tax ; Urban Development ; Banks and Banking Reform ; Debt Markets ; Developing Countries ; Environment ; Expenditures ; Finance and Financial Sector Development ; Hazard Risk Management ; Insurance ; Insurance and Risk Mitigation ; Long-term resource ; Natural Disaster ; Natural Disasters ; Private investors ; Public investment ; Risk Management ; Safety Net ; Tax ; Urban Development ; Banks and Banking Reform ; Debt Markets ; Developing Countries ; Environment ; Expenditures ; Finance and Financial Sector Development ; Hazard Risk Management ; Insurance ; Insurance and Risk Mitigation ; Long-term resource ; Natural Disaster ; Natural Disasters ; Private investors ; Public investment ; Risk Management ; Safety Net ; Tax ; Urban Development
    Abstract: Economic theory suggests that countries should ignore uncertainty for public investment and behave as if indifferent to risk because they can pool risks to a much greater extent than private investors can. This paper discusses the general economic theory in the case of developing countries. The analysis identifies several cases where the government's risk-neutral assumption does not hold, thus making rational the use of ex ante risk financing instruments, including sovereign insurance. The paper discusses the optimal level of sovereign insurance. It argues that, because sovereign insurance is usually more expensive than post-disaster financing, it should mainly cover immediate needs, while long-term expenditures should be financed through post-disaster financing (including ex post borrowing and tax increases). In other words, sovereign insurance should not aim at financing the long-term resource gap, but only the short-term liquidity need
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  • 62
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (54 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Domeland, Dorte Trade And Human Capital Accumulation
    Keywords: Capital Accumulation ; Comparative Advantage ; Cost ; Country Strategy and Performance ; Debt Markets ; Demand ; Economic Growth ; Economic Theory and Research ; Economics ; Education ; Educational Sciences ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Free Trade ; GDP ; Gross Domestic Product ; Health, Nutrition and Population ; Home Country ; Human Capital ; International ; Labor Markets ; Macroeconomics and Economic Growth ; Political Economy ; Population Policies ; Poverty Reduction ; Private Sector Development ; Social Protections and Labor ; Capital Accumulation ; Comparative Advantage ; Cost ; Country Strategy and Performance ; Debt Markets ; Demand ; Economic Growth ; Economic Theory and Research ; Economics ; Education ; Educational Sciences ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Free Trade ; GDP ; Gross Domestic Product ; Health, Nutrition and Population ; Home Country ; Human Capital ; International ; Labor Markets ; Macroeconomics and Economic Growth ; Political Economy ; Population Policies ; Poverty Reduction ; Private Sector Development ; Social Protections and Labor ; Capital Accumulation ; Comparative Advantage ; Cost ; Country Strategy and Performance ; Debt Markets ; Demand ; Economic Growth ; Economic Theory and Research ; Economics ; Education ; Educational Sciences ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Free Trade ; GDP ; Gross Domestic Product ; Health, Nutrition and Population ; Home Country ; Human Capital ; International ; Labor Markets ; Macroeconomics and Economic Growth ; Political Economy ; Population Policies ; Poverty Reduction ; Private Sector Development ; Social Protections and Labor
    Abstract: This study provides empirical evidence that trade increases on-the-job human capital accumulation by estimating the effect of home country openness on estimated returns to home country experience of U.S. immigrants. The positive effect of trade on on-the-job human capital accumulation remains significant when controlling for GDP, educational attainment, and institutional quality. It is not the result of self-selection, heterogeneity in returns to experience, English-speaking origin, or cultural background. The effect persists when restricting the sample to non-OECD countries, thereby resolving the theoretical ambiguity of whether trade increases or decreases learning-by-doing. The role of trade in generating economic growth is therefore likely to be more important than generally considered
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  • 63
    Language: English
    Pages: Online-Ressource (1 online resource (39 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Keefer, Philip Beyond Legal Origin And Checks And Balances
    Keywords: Bank Accounts ; Bank Balance Sheets ; Bank Policy ; Checks ; Contract ; Contract Rights ; Credibility ; Debt Markets ; Depositors ; Economic Theory and Research ; Emerging Markets ; Exchange ; Expropriation ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Financial Markets ; Inequality ; Labor Policies ; Law and Development ; Legal Products ; Macroeconomics and Economic Growth ; Political Economy ; Poverty Reduction ; Private Sector Development ; Privatization ; Social Protections and Labor ; Bank Accounts ; Bank Balance Sheets ; Bank Policy ; Checks ; Contract ; Contract Rights ; Credibility ; Debt Markets ; Depositors ; Economic Theory and Research ; Emerging Markets ; Exchange ; Expropriation ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Financial Markets ; Inequality ; Labor Policies ; Law and Development ; Legal Products ; Macroeconomics and Economic Growth ; Political Economy ; Poverty Reduction ; Private Sector Development ; Privatization ; Social Protections and Labor ; Bank Accounts ; Bank Balance Sheets ; Bank Policy ; Checks ; Contract ; Contract Rights ; Credibility ; Debt Markets ; Depositors ; Economic Theory and Research ; Emerging Markets ; Exchange ; Expropriation ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Financial Markets ; Inequality ; Labor Policies ; Law and Development ; Legal Products ; Macroeconomics and Economic Growth ; Political Economy ; Poverty Reduction ; Private Sector Development ; Privatization ; Social Protections and Labor
    Abstract: The existing literature emphasizes and contrasts the role of political checks and balances and legal origin in determining the pace of financial sector development. This paper expands substantially on one aspect of this debate: the fact that government actions that promote financial sector development, whether prudent financial regulation or secure property and contract rights, are public goods and sensitive to political incentives to provide public goods. Tests of hypotheses emanating from this argument yield four new conclusions. First, two key determinants of those incentives-the credibility of pre-electoral political promises and citizen information about politician decisions-systematically promote financial sector development. Second, these political factors, along with political checks and balances, operate in part through their influence on the security of property rights, an argument asserted but not previously tested. Third, contrary to findings elsewhere in the literature, the political determinants of financial sector development are significant even in the presence of controls for legal origin. Finally, and again in contrast to the literature, the evidence here suggests that legal origin primarily proxies for political phenomena. Legal origin is a largely insignificant determinant of financial sector development when those phenomena are fully taken into account
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  • 64
    Language: English
    Pages: Online-Ressource (1 online resource (56 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Ayyagari, Meghana Firm Innovation In Emerging Markets
    Keywords: Competitor ; Competitors ; Cooperatives ; Corporations ; Debt Markets ; E-Business ; Economy ; Education ; Emerging Markets ; Enterprises ; Entrepreneurs ; Entrepreneurship ; Finance and Financial Sector Development ; Financial Institution ; Financial Literacy ; Firm ; Firm Size ; Firms ; Foreign Partners ; Investment and Investment Climate ; Knowledge for Development ; Labor Policies ; Macroeconomics and Economic Growth ; Microfinance ; Private Sector Development ; Small Scale Enterprises ; Social Protections and Labor ; Competitor ; Competitors ; Cooperatives ; Corporations ; Debt Markets ; E-Business ; Economy ; Education ; Emerging Markets ; Enterprises ; Entrepreneurs ; Entrepreneurship ; Finance and Financial Sector Development ; Financial Institution ; Financial Literacy ; Firm ; Firm Size ; Firms ; Foreign Partners ; Investment and Investment Climate ; Knowledge for Development ; Labor Policies ; Macroeconomics and Economic Growth ; Microfinance ; Private Sector Development ; Small Scale Enterprises ; Social Protections and Labor ; Competitor ; Competitors ; Cooperatives ; Corporations ; Debt Markets ; E-Business ; Economy ; Education ; Emerging Markets ; Enterprises ; Entrepreneurs ; Entrepreneurship ; Finance and Financial Sector Development ; Financial Institution ; Financial Literacy ; Firm ; Firm Size ; Firms ; Foreign Partners ; Investment and Investment Climate ; Knowledge for Development ; Labor Policies ; Macroeconomics and Economic Growth ; Microfinance ; Private Sector Development ; Small Scale Enterprises ; Social Protections and Labor
    Abstract: The authors investigate the determinants of firm innovation in over 19,000 firms across 47 developing economies. They define the innovation process broadly, to include not only core innovation such as the introduction of new products and new technologies, but also other types of activities that promote knowledge transfers and adapt production processes. The authors find that more innovative firms are large exporting firms characterized by private ownership, highly educated managers with mid-level managerial experience, and access to external finance. In contrast, firms that do not innovate much are typically state-owned firms without foreign competitors. The identity of the controlling shareholder seems to be particularly important for core innovation, with those private firms whose controlling shareholder is a financial institution being the least innovative. While the use of external finance is associated with greater innovation by all private firms, it does not make state-owned firms more innovative. Financing from foreign banks is associated with higher levels of innovation compared with financing from domestic banks
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  • 65
    Language: English
    Pages: Online-Ressource (1 online resource (41 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Budina, Nina Quantitative Approaches To Fiscal Sustainability Analysis
    Keywords: Balance of Payments ; Balance of Payments Crises ; Bank Policy ; Budget ; Business Cycle ; Central Bank ; Currencies and Exchange Rates ; Debt ; Debt Management ; Debt Management Policies ; Debt Markets ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Exchange ; External Debt ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal Deficits ; International Economics & Trade ; Macroeconomics and Economic Growth ; Private Sector Development ; Public Sector Expenditure Analysis and Management ; Balance of Payments ; Balance of Payments Crises ; Bank Policy ; Budget ; Business Cycle ; Central Bank ; Currencies and Exchange Rates ; Debt ; Debt Management ; Debt Management Policies ; Debt Markets ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Exchange ; External Debt ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal Deficits ; International Economics & Trade ; Macroeconomics and Economic Growth ; Private Sector Development ; Public Sector Expenditure Analysis and Management ; Balance of Payments ; Balance of Payments Crises ; Bank Policy ; Budget ; Business Cycle ; Central Bank ; Currencies and Exchange Rates ; Debt ; Debt Management ; Debt Management Policies ; Debt Markets ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Exchange ; External Debt ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal Deficits ; International Economics & Trade ; Macroeconomics and Economic Growth ; Private Sector Development ; Public Sector Expenditure Analysis and Management
    Abstract: Fiscal sustainability analysis (FSA) is an important component of macroeconomic analysis. The authors review various quantitative approaches to FSA with a major objective to bring these approaches together and to present a user-friendly tool for FSA that reflects modern developments. They combine a dynamic simulations approach with a simplified version of the steady-state consistency approach. They also incorporate two different methods to deal with uncertainty: user-defined stress tests and stochastic simulations. The tool goes further by evaluating the required fiscal adjustment as a consequence of the stochastic realizations of the exogenous variables. Furthermore, the fiscal sustainability tool incorporates an endogenous debt feedback rule for the primary surplus, a fiscal policy reaction function. Besides outlining the theoretical framework, the authors also present a case study for Turkey
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  • 66
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (26 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: David, Antonio C Controls On Capital Inflows And External Shocks
    Keywords: Bank Policy ; Capital Account ; Capital Flows ; Capital Inflows ; Credit Expansion ; Currencies and Exchange Rates ; Debt Markets ; Developing Countries ; Domestic Interest Rates ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Financial Literacy ; Financial Shocks ; Interest ; International Rates ; Macroeconomic Management ; Macroeconomics and Economic Growth ; Private Sector Development ; Bank Policy ; Capital Account ; Capital Flows ; Capital Inflows ; Credit Expansion ; Currencies and Exchange Rates ; Debt Markets ; Developing Countries ; Domestic Interest Rates ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Financial Literacy ; Financial Shocks ; Interest ; International Rates ; Macroeconomic Management ; Macroeconomics and Economic Growth ; Private Sector Development ; Bank Policy ; Capital Account ; Capital Flows ; Capital Inflows ; Credit Expansion ; Currencies and Exchange Rates ; Debt Markets ; Developing Countries ; Domestic Interest Rates ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Financial Literacy ; Financial Shocks ; Interest ; International Rates ; Macroeconomic Management ; Macroeconomics and Economic Growth ; Private Sector Development
    Abstract: The author attempts to analyze whether price-based controls on capital inflows are successful in insulating economies against external shocks. He presents results from vector auto regressive (VAR) models that indicate that Chile and Colombia, countries that adopted controls on capital inflows, seem to have been relatively well insulated against external disturbances. Subsequently, he uses the auto regressive distributed lag (ARDL) approach to co-integration to isolate the effects of the capital controls on the pass-through of external disturbances to domestic interest rates in those economies. The author concludes that there is evidence that the capital controls allowed for greater policy autonomy
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  • 67
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (29 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Keefer, Philip Insurgency And Credible Commitment In Autocracies And Democracies
    Keywords: Armed Conflict ; Citizen ; Citizens ; Civil War ; Conflict and Development ; Emerging Markets ; Ethnic Groups ; Finance and Financial Sector Development ; Financial Literacy ; Governance ; Health, Nutrition and Population ; Labor Policies ; Natural Resources ; Parliamentary Government ; Policies ; Policy ; Policy Research ; Policy Research Working Paper ; Political Parties ; Population ; Population Policies ; Post Conflict Reconstruction ; Private Sector Development ; Public Sector Corruption and Anticorruption Measures ; Social Conflict ; Social Development ; Social Protections and Labor ; Armed Conflict ; Citizen ; Citizens ; Civil War ; Conflict and Development ; Emerging Markets ; Ethnic Groups ; Finance and Financial Sector Development ; Financial Literacy ; Governance ; Health, Nutrition and Population ; Labor Policies ; Natural Resources ; Parliamentary Government ; Policies ; Policy ; Policy Research ; Policy Research Working Paper ; Political Parties ; Population ; Population Policies ; Post Conflict Reconstruction ; Private Sector Development ; Public Sector Corruption and Anticorruption Measures ; Social Conflict ; Social Development ; Social Protections and Labor ; Armed Conflict ; Citizen ; Citizens ; Civil War ; Conflict and Development ; Emerging Markets ; Ethnic Groups ; Finance and Financial Sector Development ; Financial Literacy ; Governance ; Health, Nutrition and Population ; Labor Policies ; Natural Resources ; Parliamentary Government ; Policies ; Policy ; Policy Research ; Policy Research Working Paper ; Political Parties ; Population ; Population Policies ; Post Conflict Reconstruction ; Private Sector Development ; Public Sector Corruption and Anticorruption Measures ; Social Conflict ; Social Development ; Social Protections and Labor
    Abstract: This paper suggests a new factor that makes civil war more likely: the inability of political actors to make credible promises to broad segments of society. Lacking this ability, both elected and unelected governments pursue public policies that leave citizens less well-off and more prone to revolt. At the same time, these actors have a reduced ability to build an anti-insurgency capacity in the first place, since they are less able to prevent anti-insurgents from themselves mounting coups. But while reducing the risk of conflict overall, increasing credibility can, over some range, worsen the effects of natural resources and ethnic fragmentation on civil war. Empirical tests using various measures of political credibility support these conclusions
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  • 68
    Language: English
    Pages: Online-Ressource (1 online resource (34 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Lokshin, Michael Measuring Welfare Gains From Better Quality Infrastructure
    Keywords: Air Pollution ; Communities & Human Settlements ; Compensating Variation ; Consumption ; Consumption Patterns ; Demand ; Drinking Water ; Economic Theory and Research ; Economics ; Energy ; Energy Production and Transportation ; Environment ; Environmental Economics and Policies ; Equivalent Variation ; Finance and Financial Sector Development ; Financial Literacy ; Income ; Industry ; Information ; Invest ; Investment ; Macroeconomics and Economic Growth ; Markets and Market Access ; Town Water Supply and Sanitation ; Water Resources ; Water Supply and Sanitation ; Water and Industry ; Air Pollution ; Communities & Human Settlements ; Compensating Variation ; Consumption ; Consumption Patterns ; Demand ; Drinking Water ; Economic Theory and Research ; Economics ; Energy ; Energy Production and Transportation ; Environment ; Environmental Economics and Policies ; Equivalent Variation ; Finance and Financial Sector Development ; Financial Literacy ; Income ; Industry ; Information ; Invest ; Investment ; Macroeconomics and Economic Growth ; Markets and Market Access ; Town Water Supply and Sanitation ; Water Resources ; Water Supply and Sanitation ; Water and Industry ; Air Pollution ; Communities & Human Settlements ; Compensating Variation ; Consumption ; Consumption Patterns ; Demand ; Drinking Water ; Economic Theory and Research ; Economics ; Energy ; Energy Production and Transportation ; Environment ; Environmental Economics and Policies ; Equivalent Variation ; Finance and Financial Sector Development ; Financial Literacy ; Income ; Industry ; Information ; Invest ; Investment ; Macroeconomics and Economic Growth ; Markets and Market Access ; Town Water Supply and Sanitation ; Water Resources ; Water Supply and Sanitation ; Water and Industry
    Abstract: Projects and reforms targeting infrastructure services can affect consumer welfare through changes in the price, coverage, or quality of the services provided. The benefits of improved service quality-while significant-are often overlooked because they are difficult to quantify. This paper reviews methods of evaluating the welfare implications of changes in the quality of infrastructure services within the broader theoretical perspective of welfare measurement. The study outlines the theoretical assumptions and data requirements involved, illustrating each method with examples that highlight common methodological features and differences. The paper also presents the theoretical underpinnings and potential applications of a new approach to analyzing the effects of interruptions in the supply of infrastructure services on household welfare
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  • 69
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (27 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Masson, Paul R The Growing Role of The Euro In Emerging Market Finance
    Keywords: Currencies and Exchange Rates ; Debt ; Debt Issuance ; Debt Markets ; Developing Countries ; Emerging Market ; Emerging Markets ; Finance and Financial Sector Development ; Fiscal and Monetary Policy ; Foreign Exchange ; Foreign Exchange Reserve ; Holdings ; Home Currency ; International Finance ; Macroeconomics and Economic Growth ; Market Finance ; Private Sector Development ; Public Sector Development ; Currencies and Exchange Rates ; Debt ; Debt Issuance ; Debt Markets ; Developing Countries ; Emerging Market ; Emerging Markets ; Finance and Financial Sector Development ; Fiscal and Monetary Policy ; Foreign Exchange ; Foreign Exchange Reserve ; Holdings ; Home Currency ; International Finance ; Macroeconomics and Economic Growth ; Market Finance ; Private Sector Development ; Public Sector Development ; Currencies and Exchange Rates ; Debt ; Debt Issuance ; Debt Markets ; Developing Countries ; Emerging Market ; Emerging Markets ; Finance and Financial Sector Development ; Fiscal and Monetary Policy ; Foreign Exchange ; Foreign Exchange Reserve ; Holdings ; Home Currency ; International Finance ; Macroeconomics and Economic Growth ; Market Finance ; Private Sector Development ; Public Sector Development
    Abstract: More than eight years after the introduction of the euro, impacts on developing countries have been relatively modest. Overall, the euro has become much more important in debt issuance than in official foreign exchange reserve holdings. The former has benefited from the creation of a large set of investors for which the euro is the home currency, while demand for euro reserves has been held back by the dominance of the dollar as a vehicle and intervention currency, and the greater liquidity of the market for US treasury securities. Fears of further dollar decline may fuel some shifts out of dollars into euros, however, with the potential for a period of financial instability
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  • 70
    Language: English
    Pages: Online-Ressource (1 online resource (21 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Bourguignon, Francois Distributional Effects of Educational Improvements
    Keywords: Access to Finance ; Capital Markets ; Credit Markets ; Debt Markets ; Developing Countries ; Economic Development ; Economic Theory and Research ; Education for All ; Expenditure ; Expenditures ; Finance and Financial Sector Development ; Human Capital ; Human Development ; International Bank ; Macroeconomics and Economic Growth ; Public Sector Expenditure Analysis and Management ; Public Spending ; Access to Finance ; Capital Markets ; Credit Markets ; Debt Markets ; Developing Countries ; Economic Development ; Economic Theory and Research ; Education for All ; Expenditure ; Expenditures ; Finance and Financial Sector Development ; Human Capital ; Human Development ; International Bank ; Macroeconomics and Economic Growth ; Public Sector Expenditure Analysis and Management ; Public Spending ; Access to Finance ; Capital Markets ; Credit Markets ; Debt Markets ; Developing Countries ; Economic Development ; Economic Theory and Research ; Education for All ; Expenditure ; Expenditures ; Finance and Financial Sector Development ; Human Capital ; Human Development ; International Bank ; Macroeconomics and Economic Growth ; Public Sector Expenditure Analysis and Management ; Public Spending
    Abstract: Measuring the incidence of public spending in education requires an intergenerational framework distinguishing between what current and future generations - that is, parents and children - give and receive. In standard distributional incidence analysis, households are assumed to receive a benefit equal to what is spent on their children enrolled in the public schooling system and, implicitly, to pay a fee proportional to their income. This paper shows that, in an intergenerational framework, this is equivalent to assuming perfectly altruistic individuals, in the sense of the dynastic model, and perfect capital markets. But in practice, credit markets are imperfect and poor households cannot borrow against the future income of their children. The authors show that under such circumstances, standard distributional incidence analysis may greatly over-estimate the progressivity of public spending in education: educational improvements that are progressive in the long-run steady state may actually be regressive for the current generation of poor adults. This is especially true where service delivery in education is highly inefficient - as it is in poor districts of many developing countries - so that the educational benefits received are relatively low in comparison with the cost of public spending. The results have implications for both policy measures and analytical approaches
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  • 71
    Language: English
    Pages: Online-Ressource (1 online resource (46 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Gutierrez, Catalina Does Employment Generation Really Matter For Poverty Reduction ?
    Keywords: Banks and Banking Reform ; Developing Countries ; Growth Pattern ; Growth Policies ; Labor Market ; Labor Markets ; Labor Policies ; Policy Research ; Poverty Increases ; Poverty Reducing ; Poverty Reduction ; Poverty Reduction ; Pro-Poor Growth ; Reducing Poverty ; Rural Development ; Rural Poverty Reduction ; Short-Run Growth ; Social Protections and Labor ; Banks and Banking Reform ; Developing Countries ; Growth Pattern ; Growth Policies ; Labor Market ; Labor Markets ; Labor Policies ; Policy Research ; Poverty Increases ; Poverty Reducing ; Poverty Reduction ; Poverty Reduction ; Pro-Poor Growth ; Reducing Poverty ; Rural Development ; Rural Poverty Reduction ; Short-Run Growth ; Social Protections and Labor ; Banks and Banking Reform ; Developing Countries ; Growth Pattern ; Growth Policies ; Labor Market ; Labor Markets ; Labor Policies ; Policy Research ; Poverty Increases ; Poverty Reducing ; Poverty Reduction ; Poverty Reduction ; Pro-Poor Growth ; Reducing Poverty ; Rural Development ; Rural Poverty Reduction ; Short-Run Growth ; Social Protections and Labor
    Abstract: This paper analyzes how the employment/productivity profile of growth and its sectoral pattern are correlated with poverty reduction. The authors use a sample of 104 short-run growth spells in developing countries, between 1980 and 2001. They also identify some conditions of the labor market and the economic environment that are associated with employment-intensive growth or specific sectoral growth. The results show that, in the short run, although the aggregate employment-rate intensity of growth does not matter for poverty reduction any more than the aggregate productivity intensity of growth, the sectoral pattern of employment growth and productivity growth is important. Employment-intensive growth in the secondary sector is associated with decreases in poverty, while employment-intensive growth in agriculture is correlated with poverty increases. Similarly, productivity-intensive growth in agriculture is associated with decreases in poverty. Although the study does not address causality, coincidence of these phenomena in this large sample of heterogeneous countries and periods suggests that, in the short run, the sectoral productivity and employment pattern of growth may have important implications for poverty alleviation. Therefore, policies for reducing poverty should not overlook the sectoral productivity and employment implications of different growth policies
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  • 72
    Language: English
    Pages: Online-Ressource (1 online resource (56 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Ferreira, Francisco H.G Trade Liberalization, Employment Flows, And Wage Inequality In Brazil
    Keywords: Agriculture ; Capital Incomes ; Debt Markets ; Development ; Distribution ; Economic Theory and Research ; Economy ; Emerging Markets ; Exchange ; Finance and Finance ; Financial Literacy ; Free Trade ; Goods ; Growth Rate ; Income ; Industry ; Inequality Measures ; International Economics & Trade ; Labor Markets ; Labor Policies ; Macroeconomics and Economic Growth ; Prices ; Private Sector Development ; Public Sector Development ; Social Protections and Labor ; Theory ; Total Factor Production ; Trade Law ; Trade Policy ; Water Resources ; Water and Industry ; Agriculture ; Capital Incomes ; Debt Markets ; Development ; Distribution ; Economic Theory and Research ; Economy ; Emerging Markets ; Exchange ; Finance and Finance ; Financial Literacy ; Free Trade ; Goods ; Growth Rate ; Income ; Industry ; Inequality Measures ; International Economics & Trade ; Labor Markets ; Labor Policies ; Macroeconomics and Economic Growth ; Prices ; Private Sector Development ; Public Sector Development ; Social Protections and Labor ; Theory ; Total Factor Production ; Trade Law ; Trade Policy ; Water Resources ; Water and Industry ; Agriculture ; Capital Incomes ; Debt Markets ; Development ; Distribution ; Economic Theory and Research ; Economy ; Emerging Markets ; Exchange ; Finance and Finance ; Financial Literacy ; Free Trade ; Goods ; Growth Rate ; Income ; Industry ; Inequality Measures ; International Economics & Trade ; Labor Markets ; Labor Policies ; Macroeconomics and Economic Growth ; Prices ; Private Sector Development ; Public Sector Development ; Social Protections and Labor ; Theory ; Total Factor Production ; Trade Law ; Trade Policy ; Water Resources ; Water and Industry
    Abstract: Using nationally representative, economywide data, this paper investigates the relative importance of trade-mandated effects on industry wage premia; industry and economywide skill premia; and employment flows in accounting for changes in the wage distribution in Brazil during the 1988-95 trade liberalization. Unlike in other Latin American countries, trade liberalization appears to have made a significant contribution toward a reduction in wage inequality. These effects have not occurred through changes in industry-specific (wage or skill) premia. Instead, they appear to have been channeled through substantial employment flows across sectors and formality categories. Changes in the economywide skill premium are also important
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  • 73
    Language: English
    Pages: Online-Ressource (1 online resource (28 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: McKenzie, David Self-Selection Patterns In Mexico-U.S. Migration
    Keywords: Anthropology ; Communities & Human Settlements ; Culture & Development ; Finance and Financial Sector Development ; Financial Literacy ; Gender ; Gender and Social Development ; Health, Nutrition and Population ; Human Migrations and Resettlements ; Immigrants ; Immigration ; Important Policy ; Income Inequality ; Industry ; International Migration ; Job Opportunities ; Labor Market ; Language Proficiency ; Migrant ; Migrants ; Migration ; Population Policies ; Social Development ; Technology Industry ; Voluntary and Involuntary Resettlement ; Anthropology ; Communities & Human Settlements ; Culture & Development ; Finance and Financial Sector Development ; Financial Literacy ; Gender ; Gender and Social Development ; Health, Nutrition and Population ; Human Migrations and Resettlements ; Immigrants ; Immigration ; Important Policy ; Income Inequality ; Industry ; International Migration ; Job Opportunities ; Labor Market ; Language Proficiency ; Migrant ; Migrants ; Migration ; Population Policies ; Social Development ; Technology Industry ; Voluntary and Involuntary Resettlement ; Anthropology ; Communities & Human Settlements ; Culture & Development ; Finance and Financial Sector Development ; Financial Literacy ; Gender ; Gender and Social Development ; Health, Nutrition and Population ; Human Migrations and Resettlements ; Immigrants ; Immigration ; Important Policy ; Income Inequality ; Industry ; International Migration ; Job Opportunities ; Labor Market ; Language Proficiency ; Migrant ; Migrants ; Migration ; Population Policies ; Social Development ; Technology Industry ; Voluntary and Involuntary Resettlement
    Abstract: The authors examine the role of migration networks in determining self-selection patterns of Mexico-U.S. migration. They first present a simple theoretical framework showing how such networks impact on migration incentives at different education levels and, consequently, how they are likely to affect the expected skill composition of migration. Using survey data from Mexico, the authors then show that the probability of migration is increasing with education in communities with low migrant networks, but decreasing with education in communities with high migrant networks. This is consistent with positive self-selection of migrants being driven by high migration costs, and with negative self-selection of migrants being driven by lower returns to education in the U.S. than in Mexico
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  • 74
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (96 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Hanushek, Eric A The Role of Education Quality For Economic Growth
    Keywords: Access and Equity in Basic Education ; Adult Literacy ; Cognitive Skills ; Education ; Education ; Education For All ; Education For All Initiative ; Education Policy ; Education for All ; Educational Outcomes ; Educational Quality ; Effective Schools and Teachers ; Enrollment Rates ; Finance and Financial Sector Development ; Financial Literacy ; Health, Nutrition and Population ; Knowledge ; Population Policies ; Primary Education ; Secondary Education ; Tertiary Education ; Access and Equity in Basic Education ; Adult Literacy ; Cognitive Skills ; Education ; Education ; Education For All ; Education For All Initiative ; Education Policy ; Education for All ; Educational Outcomes ; Educational Quality ; Effective Schools and Teachers ; Enrollment Rates ; Finance and Financial Sector Development ; Financial Literacy ; Health, Nutrition and Population ; Knowledge ; Population Policies ; Primary Education ; Secondary Education ; Tertiary Education ; Access and Equity in Basic Education ; Adult Literacy ; Cognitive Skills ; Education ; Education ; Education For All ; Education For All Initiative ; Education Policy ; Education for All ; Educational Outcomes ; Educational Quality ; Effective Schools and Teachers ; Enrollment Rates ; Finance and Financial Sector Development ; Financial Literacy ; Health, Nutrition and Population ; Knowledge ; Population Policies ; Primary Education ; Secondary Education ; Tertiary Education
    Abstract: The role of improved schooling, a central part of most development strategies, has become controversial because expansion of school attainment has not guaranteed improved economic conditions. This paper reviews the role of education in promoting economic well-being, focusing on the role of educational quality. It concludes that there is strong evidence that the cognitive skills of the population-rather than mere school attainment-are powerfully related to individual earnings, to the distribution of income, and to economic growth. New empirical results show the importance of both minimal and high-level skills, the complementarity of skills and the quality of economic institutions, and the robustness of the relationship between skills and growth. International comparisons incorporating expanded data on cognitive skills reveal much larger skill deficits in developing countries than generally derived from just school enrollment and attainment. The magnitude of change needed makes it clear that closing the economic gap with industrial countries will require major structural changes in schooling institutions
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  • 75
    Language: English
    Pages: Online-Ressource (1 online resource (43 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Cull, Robert Foreign Bank Participation And Crises In Developing Countries
    Keywords: Bank ; Bank Acquisitions ; Bank For International Settlements ; Bank Mergers ; Bank of Greece ; Banking ; Banking Crises ; Banking Sector ; Banks and Banking Reform ; Cred Distressed Banks ; Debt Markets ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Interest ; Financial Literacy ; Foreign Direct Investment ; International Economics & Trade ; Private Sector Development ; Bank ; Bank Acquisitions ; Bank For International Settlements ; Bank Mergers ; Bank of Greece ; Banking ; Banking Crises ; Banking Sector ; Banks and Banking Reform ; Cred Distressed Banks ; Debt Markets ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Interest ; Financial Literacy ; Foreign Direct Investment ; International Economics & Trade ; Private Sector Development ; Bank ; Bank Acquisitions ; Bank For International Settlements ; Bank Mergers ; Bank of Greece ; Banking ; Banking Crises ; Banking Sector ; Banks and Banking Reform ; Cred Distressed Banks ; Debt Markets ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Interest ; Financial Literacy ; Foreign Direct Investment ; International Economics & Trade ; Private Sector Development
    Abstract: This paper describes the recent trends in foreign bank ownership in developing countries, summarizes the existing evidence on the causes and implications of foreign bank presence, and reexamines the link between banking crises and foreign bank participation. Using data on the share of banking sector assets held by foreign banks in over 100 developing countries during 1995-2002, the results show that countries that experienced a banking crisis tended to have higher levels of foreign bank participation than those that did not. Furthermore, panel regressions indicate that foreign participation increased as a result of crises rather than prior to them. However, post-crisis increases in foreign participation did not coincide with increased credit to the private sector, perhaps because in many cases foreign banks acquired distressed banks
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  • 76
    Language: English
    Pages: Online-Ressource (1 online resource (32 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Larson, Donald F Will Markets Direct Investments Under The Kyoto Protocol ?
    Keywords: Climate Change ; Debt Markets ; Economic Theory and Research ; Economics ; Economies ; Emerging Markets ; Emissions ; Energy ; Energy Production ; Environment ; Environmental Economics and Policies ; Finance and Financial Sector Development ; Financial Literacy ; Greenhouse Effect ; Greenhouse Gases ; Incentives ; Information ; Interest ; International Economics & Trade ; Investment ; Investment and Investment Climate ; Investments ; Joint Implementation ; Macroeconomics and Economic Growth ; Non Bank Financial Institutions ; Private Sector Development ; Climate Change ; Debt Markets ; Economic Theory and Research ; Economics ; Economies ; Emerging Markets ; Emissions ; Energy ; Energy Production ; Environment ; Environmental Economics and Policies ; Finance and Financial Sector Development ; Financial Literacy ; Greenhouse Effect ; Greenhouse Gases ; Incentives ; Information ; Interest ; International Economics & Trade ; Investment ; Investment and Investment Climate ; Investments ; Joint Implementation ; Macroeconomics and Economic Growth ; Non Bank Financial Institutions ; Private Sector Development ; Climate Change ; Debt Markets ; Economic Theory and Research ; Economics ; Economies ; Emerging Markets ; Emissions ; Energy ; Energy Production ; Environment ; Environmental Economics and Policies ; Finance and Financial Sector Development ; Financial Literacy ; Greenhouse Effect ; Greenhouse Gases ; Incentives ; Information ; Interest ; International Economics & Trade ; Investment ; Investment and Investment Climate ; Investments ; Joint Implementation ; Macroeconomics and Economic Growth ; Non Bank Financial Institutions ; Private Sector Development
    Abstract: Under the Kyoto Protocol, countries can meet treaty obligations by investing in projects that reduce or sequester greenhouse gases elsewhere. Prior to ratification, treaty participants agreed to launch country-based pilot projects, referred to collectively as Activities Implemented Jointly (AIJ), to test novel aspects of the project-related provisions. Relying on a 10-year history of projects, the authors investigate the determinants of AIJ investment. Their findings suggest that national political objectives and possibly deeper cultural ties influenced project selection. This characterization differs from the market-based assumptions that underlie well-known estimates of cost-savings related to the Protocol's flexibility mechanisms. The authors conclude that if approaches developed under the AIJ programs to approve projects are retained, benefits from Kyoto's flexibility provisions will be less than those widely anticipated
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  • 77
    Language: English
    Pages: Online-Ressource (1 online resource (34 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: McKenzie, David A Land of Milk And Honey With Streets Paved With Gold
    Keywords: Accurate Information ; Annual Income ; Bank ; Consumer ; Consumer Goods ; Demands ; Earnings ; Economic Theory and Research ; Education ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal and Monetary Policy ; Health Systems Development and Reform ; Health, Nutrition and Population ; Household Income ; Income ; Income ; Incomes ; Information ; Labor Markets ; Labor Policies ; Macroeconomics and Economic Growth ; Money ; Population Policies ; Public Sector Development ; Remittances ; Social Protections and Labor ; Accurate Information ; Annual Income ; Bank ; Consumer ; Consumer Goods ; Demands ; Earnings ; Economic Theory and Research ; Education ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal and Monetary Policy ; Health Systems Development and Reform ; Health, Nutrition and Population ; Household Income ; Income ; Income ; Incomes ; Information ; Labor Markets ; Labor Policies ; Macroeconomics and Economic Growth ; Money ; Population Policies ; Public Sector Development ; Remittances ; Social Protections and Labor ; Accurate Information ; Annual Income ; Bank ; Consumer ; Consumer Goods ; Demands ; Earnings ; Economic Theory and Research ; Education ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal and Monetary Policy ; Health Systems Development and Reform ; Health, Nutrition and Population ; Household Income ; Income ; Income ; Incomes ; Information ; Labor Markets ; Labor Policies ; Macroeconomics and Economic Growth ; Money ; Population Policies ; Public Sector Development ; Remittances ; Social Protections and Labor
    Abstract: Millions of people emigrate every year in search of better economic and social opportunities. Anecdotal evidence suggests that emigrants may have over-optimistic expectations about the incomes they can earn abroad, resulting in excessive migration pressure, and in disappointment among those who do migrate. Yet there is almost no statistical evidence on how accurately these emigrants predict the incomes that they will earn working abroad. In this paper the authors combine a natural emigration experiment with unique survey data on would-be emigrants' probabilistic expectations about employment and incomes in the migration destination. Their procedure enables them to obtain moments and quantiles of the subjective distribution of expected earnings in the destination country. The authors find a significant underestimation of both unconditional and conditional labor earnings at all points in the distribution. This underestimation appears driven in part by potential migrants placing too much weight on the negative employment experiences of some migrants, and by inaccurate information flows from extended family, who may be trying to moderate remittance demands by understating incomes
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  • 78
    Language: English
    Pages: Online-Ressource (1 online resource (38 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Easterly, William Walking Up The Down Escalator
    Keywords: Accounting ; Bank Policy ; Banks and Banking Reform ; Budget ; Cash Flow ; Cash Flows ; Debt ; Debt Markets ; Defic Exchange ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal Discipline ; Future ; Investment Spending ; Investment and Investment Climate ; Investments ; Liquidity ; Macroeconomics and Economic Growth ; Private Finance ; Private Sector Development ; Public Sector Economics and Finance ; Public Sector Expenditure Analysis and Management ; Accounting ; Bank Policy ; Banks and Banking Reform ; Budget ; Cash Flow ; Cash Flows ; Debt ; Debt Markets ; Defic Exchange ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal Discipline ; Future ; Investment Spending ; Investment and Investment Climate ; Investments ; Liquidity ; Macroeconomics and Economic Growth ; Private Finance ; Private Sector Development ; Public Sector Economics and Finance ; Public Sector Expenditure Analysis and Management ; Accounting ; Bank Policy ; Banks and Banking Reform ; Budget ; Cash Flow ; Cash Flows ; Debt ; Debt Markets ; Defic Exchange ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal Discipline ; Future ; Investment Spending ; Investment and Investment Climate ; Investments ; Liquidity ; Macroeconomics and Economic Growth ; Private Finance ; Private Sector Development ; Public Sector Economics and Finance ; Public Sector Expenditure Analysis and Management
    Abstract: Fiscal adjustment becomes like walking up the down escalator when growth-promoting spending is cut so much as to lower growth and thus the present value of future tax revenues to a degree that more than offsets the improvement in the cash deficit. Although short-term cash flows matter, a preponderant focus on them encourages governments to invest too little. Cash flow targets also encourage governments to shift investment spending off budget, by seeking private investment in public projects-irrespective of its real fiscal or economic benefits. To evade the action of cash flow targets, some have suggested excluding from their scope certain investments (such as those undertaken by public enterprises deemed commercial or financed by multilaterals). These stopgap remedies might sometimes help protect investment, but they do not provide a satisfactory solution to the underlying problem. Governments can more effectively reduce the biases created by the focus on short-term cash flows by developing indicators of the long-term fiscal effects of their decisions, including accounting and economic measures of net worth, and where appropriate including such measures in fiscal targets or even fiscal rules, replacing the exclusive focus on liquidity and debt
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  • 79
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (39 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Bayraktar, Nihal Specification of Investment Functions In Sub-Saharan Africa
    Keywords: Accumulation ; Capital ; Currencies and Exchange Rates ; Debt Markets ; Depreciation ; Distribution of Income ; Economic Theory and Research ; Emerging Markets ; Extensive ; External ; Finance and Financial Sector Development ; Financial Literacy ; Fixed Capital ; Income ; Investment ; Investment ; Investment Behavior ; Investment Functions ; Investment and Investment Climate ; Macroeconomics and Economic Growth ; Private Sector Development ; Accumulation ; Capital ; Currencies and Exchange Rates ; Debt Markets ; Depreciation ; Distribution of Income ; Economic Theory and Research ; Emerging Markets ; Extensive ; External ; Finance and Financial Sector Development ; Financial Literacy ; Fixed Capital ; Income ; Investment ; Investment ; Investment Behavior ; Investment Functions ; Investment and Investment Climate ; Macroeconomics and Economic Growth ; Private Sector Development ; Accumulation ; Capital ; Currencies and Exchange Rates ; Debt Markets ; Depreciation ; Distribution of Income ; Economic Theory and Research ; Emerging Markets ; Extensive ; External ; Finance and Financial Sector Development ; Financial Literacy ; Fixed Capital ; Income ; Investment ; Investment ; Investment Behavior ; Investment Functions ; Investment and Investment Climate ; Macroeconomics and Economic Growth ; Private Sector Development
    Abstract: It is a well-known fact that one of the most important determinants of growth is private investment. But in the developing country context of widespread poverty, the effects of initial conditions on the process of capital accumulation have seldom been investigated. This paper highlights heterogeneity in the process of capital accumulation across different countries in Sub-Saharan Africa, and derives a formal specification of investment functions in the primary, industry, and service sectors in the region using a variation of the combined Tobin's Q Theory and the neoclassical models of investment. The results highlight a more rapid accumulation of capital in the relatively high income subpanel and a widening public-private capital accumulation gap. A functional specification points to the significance of aggregate profitability shocks, the financing cost of investment, and public capital stock in estimating the growth rate of private capital accumulation. These results are supported empirically, as highlighted by the relatively small absolute deviation between actual and predicted value distributions
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  • 80
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (37 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Dollar, David Asian Century Or Multi-Polar Century ?
    Keywords: Currencies and Exchange Rates ; Debt Markets ; Demographic ; Developing Countries ; Developing Economies ; Economic Performance ; Economic Performances ; Economic Theory and Research ; Emerging Markets ; Energy ; Energy Production and Transportation ; Exchange ; Finance and Financial Sector Development ; Financial Literacy ; Foreign Trade ; Future ; Future Prospects ; Globalization ; Growth Rates ; Health, Nutrition and Population ; Labor ; Macroeconomics and Economic Growth ; Population Policies ; Poverty Reduction ; Private Sector Development ; Pro-Poor Growth ; Social Protections and Labor ; Currencies and Exchange Rates ; Debt Markets ; Demographic ; Developing Countries ; Developing Economies ; Economic Performance ; Economic Performances ; Economic Theory and Research ; Emerging Markets ; Energy ; Energy Production and Transportation ; Exchange ; Finance and Financial Sector Development ; Financial Literacy ; Foreign Trade ; Future ; Future Prospects ; Globalization ; Growth Rates ; Health, Nutrition and Population ; Labor ; Macroeconomics and Economic Growth ; Population Policies ; Poverty Reduction ; Private Sector Development ; Pro-Poor Growth ; Social Protections and Labor ; Currencies and Exchange Rates ; Debt Markets ; Demographic ; Developing Countries ; Developing Economies ; Economic Performance ; Economic Performances ; Economic Theory and Research ; Emerging Markets ; Energy ; Energy Production and Transportation ; Exchange ; Finance and Financial Sector Development ; Financial Literacy ; Foreign Trade ; Future ; Future Prospects ; Globalization ; Growth Rates ; Health, Nutrition and Population ; Labor ; Macroeconomics and Economic Growth ; Population Policies ; Poverty Reduction ; Private Sector Development ; Pro-Poor Growth ; Social Protections and Labor
    Abstract: The "rise of Asia" is something of a myth. During 1990-2005 China accounted for 28 percent of global growth, measured at purchasing power parity (PPP). India accounted for 9 percent. The rest of developing Asia, with nearly a billion people, accounted for only 7 percent, the same as Latin America. Hence there is no general success of Asian developing economies. China has grown better than its developing neighbors because it started its reform with a better base of human capital, has been more open to foreign trade and investment, and created good investment climates in coastal cities. China's success changes the equation going forward: its wages are now two to three times higher than in the populous Asian countries (Bangladesh, India, Indonesia, Pakistan, and Vietnam), and China will become an ever-larger importer of natural resource and labor-intensive products. Developing countries need to become more open and improve their investment climates to benefit from these opportunities. China itself faces new challenges that could hamper its further development: unsustainable trade imbalance with the United States, energy and water scarcity and unsustainable use of natural resources, and growing inequality and social tension. To address the first two of these challenges, good cooperation between China and the United States is essential. The author concludes that we are more likely to be facing a "multi-polar century," than an Asian century
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  • 81
    Language: English
    Pages: Online-Ressource (1 online resource (27 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: David, Antonio C Are Price-Based Capital Account Regulations Effective In Developing Countries ?
    Keywords: Asset Price ; Balance Sheets ; Bank Policy ; Banks and Banking Reform ; Boom-Bust Cycle ; Capital Account ; Capital Flows ; Capital Flows ; Capital Inflows ; Currencies and Exchange Rates ; Debt Markets ; Developing Countries ; Economic Theory and Research ; Emerging Economies ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Financial Liberal ; International Economics & Trade ; Macroeconomic Management ; Macroeconomics and Economic Growth ; Private Sector Development ; Asset Price ; Balance Sheets ; Bank Policy ; Banks and Banking Reform ; Boom-Bust Cycle ; Capital Account ; Capital Flows ; Capital Flows ; Capital Inflows ; Currencies and Exchange Rates ; Debt Markets ; Developing Countries ; Economic Theory and Research ; Emerging Economies ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Financial Liberal ; International Economics & Trade ; Macroeconomic Management ; Macroeconomics and Economic Growth ; Private Sector Development ; Asset Price ; Balance Sheets ; Bank Policy ; Banks and Banking Reform ; Boom-Bust Cycle ; Capital Account ; Capital Flows ; Capital Flows ; Capital Inflows ; Currencies and Exchange Rates ; Debt Markets ; Developing Countries ; Economic Theory and Research ; Emerging Economies ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Financial Liberal ; International Economics & Trade ; Macroeconomic Management ; Macroeconomics and Economic Growth ; Private Sector Development
    Abstract: The author evaluates the effectiveness of policy measures adopted by Chile and Colombia, aiming to mitigate the deleterious effects of pro-cyclical capital flows. In the case of Chile, according to his Generalized Method of Moments (GMM) analysis, capital controls succeeded in reducing net short-term capital flows but did not affect long-term flows. As far as Colombia is concerned, the regulations were capable of affecting total flows and also long-term ones. In addition, the co-integration models indicate that the regulations did not have a direct effect on the real exchange rate in the Chilean case. Nonetheless, the model used for Colombia did detect a direct impact of the capital controls on the real exchange rate. Therefore, the results do not seem to support the idea that those regulations were easily evaded
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  • 82
    Language: English
    Pages: Online-Ressource (1 online resource (47 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Baird, Sarah Infant Mortality Over The Business Cycle In The Developing World
    Keywords: Developing Countries ; Expenditures ; Health Monitoring and Evaluation ; Health, Nutrition and Population ; Insurance ; Long-term resource ; Natural Disaster ; Population Policies ; Private investors ; Public investment ; Risk Management ; Safety Net ; Tax ; Developing Countries ; Expenditures ; Health Monitoring and Evaluation ; Health, Nutrition and Population ; Insurance ; Long-term resource ; Natural Disaster ; Population Policies ; Private investors ; Public investment ; Risk Management ; Safety Net ; Tax ; Developing Countries ; Expenditures ; Health Monitoring and Evaluation ; Health, Nutrition and Population ; Insurance ; Long-term resource ; Natural Disaster ; Population Policies ; Private investors ; Public investment ; Risk Management ; Safety Net ; Tax
    Abstract: The diffusion of cost-effective life saving technologies has reduced infant mortality in much of the developing world. Income gains may also play a direct, protective role in ensuring child survival, although the empirical findings to date on this issue have been mixed. This paper assembles data from Demographic and Health Surveys (DHS) in 59 countries to analyze the relationship between changes in per capita GDP and infant mortality. The authors show that there is a strong, negative association between changes in per capita GDP and infant mortality- in a first-differenced specification the implied elasticity of infant mortality with respect to per capita GDP is approximately -0.56. In addition to this central result, two findings are noteworthy. First, although there is some evidence of changes in the composition of women giving birth during economic upturns and downturns, the observed changes in infant mortality are not a result of mothers with protective characteristics timing fertility to correspond with the business cycle. Second, the association between infant mortality and per capita GDP is particularly pronounced for periods of large contractions in GDP, suggesting the inability of developing country households or health systems (or both) to smooth resources. Simple back-of-the-envelope calculations using the estimates suggest that there may have been more than 1 million "excess" deaths in the developing world since 1980 as a result of large, negative contractions in per capita GDP
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  • 83
    Language: English
    Pages: Online-Ressource (1 online resource (33 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Gine, Xavier Insurance, Credit, And Technology Adoption
    Keywords: Access To Information ; Agriculture ; Bankruptcy and Resolution of Financial Distress ; Credit Constraints ; Crops and Crop Management Systems ; Debt Markets ; Developing Countries ; Finance and Financial Sector Development ; Financial Markets ; Financial Support ; Hazard Risk Management ; Insurance ; Insurance Policy ; International Bank ; Loan ; Microfinance ; Poverty Reduction ; Rural Development ; Rural Poverty Reduction ; Urban Development ; Access To Information ; Agriculture ; Bankruptcy and Resolution of Financial Distress ; Credit Constraints ; Crops and Crop Management Systems ; Debt Markets ; Developing Countries ; Finance and Financial Sector Development ; Financial Markets ; Financial Support ; Hazard Risk Management ; Insurance ; Insurance Policy ; International Bank ; Loan ; Microfinance ; Poverty Reduction ; Rural Development ; Rural Poverty Reduction ; Urban Development ; Access To Information ; Agriculture ; Bankruptcy and Resolution of Financial Distress ; Credit Constraints ; Crops and Crop Management Systems ; Debt Markets ; Developing Countries ; Finance and Financial Sector Development ; Financial Markets ; Financial Support ; Hazard Risk Management ; Insurance ; Insurance Policy ; International Bank ; Loan ; Microfinance ; Poverty Reduction ; Rural Development ; Rural Poverty Reduction ; Urban Development
    Abstract: The adoption of new agricultural technologies may be discouraged because of their inherent riskiness. This study implemented a randomized field experiment to ask whether the provision of insurance against a major source of production risk induces farmers to take out loans to invest in a new crop variety. The study sample was composed of roughly 800 maize and groundnut farmers in Malawi, where by far the dominant source of production risk is the level of rainfall. We randomly selected half of the farmers to be offered credit to purchase high-yielding hybrid maize and improved groundnut seeds for planting in the November 2006 crop season. The other half of the farmers were offered a similar credit package but were also required to purchase (at actuarially fair rates) a weather insurance policy that partially or fully forgave the loan in the event of poor rainfall. Surprisingly, take up was lower by 13 percentage points among farmers offered insurance with the loan. Take-up was 33.0 percent for farmers who were offered the uninsured loan. There is suggestive evidence that the reduced take-up of the insured loan was due to the high cognitive cost of evaluating the insurance: insured loan take-up was positively correlated with farmer education levels. By contrast, the take-up of the uninsured loan was uncorrelated with farmer education
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  • 84
    Language: English
    Pages: Online-Ressource (1 online resource (43 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Stifel, David Tracking Poverty Over Time In The Absence of Comparable Consumption Data
    Keywords: Agricultural Production ; Developing Countries ; Health Services ; Health, Nutrition and Population ; Household Assets ; Household Level ; Malaria ; Millennium Development Goals ; National Level ; Policy ; Policy Research ; Population Policies ; Poverty Reduction ; Rural Development ; Rural Poverty Reduction ; Agricultural Production ; Developing Countries ; Health Services ; Health, Nutrition and Population ; Household Assets ; Household Level ; Malaria ; Millennium Development Goals ; National Level ; Policy ; Policy Research ; Population Policies ; Poverty Reduction ; Rural Development ; Rural Poverty Reduction ; Agricultural Production ; Developing Countries ; Health Services ; Health, Nutrition and Population ; Household Assets ; Household Level ; Malaria ; Millennium Development Goals ; National Level ; Policy ; Policy Research ; Population Policies ; Poverty Reduction ; Rural Development ; Rural Poverty Reduction
    Abstract: Following the endorsement of the Millennium Development Goals, there is an increasing demand for methods to track poverty regularly. This paper develops an economically intuitive and inexpensive methodology to do so in the absence of regular, comparable data on household consumption. The minimum data requirements for the methodology are the availability of a household budget survey and a series of surveys with a comparable set of asset data also contained in the budget survey. The methodology is illustrated using a series of Demographic Health Surveys from Kenya
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  • 85
    Language: English
    Pages: Online-Ressource (1 online resource (35 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Mansuri, Ghazala Incomplete Contracts And Investment
    Keywords: Asymmetric Information ; Bank Policy ; Communities & Human Settlements ; Contract ; Contract Law ; Contracts ; Debt Markets ; Economic Theory and Research ; Economic Transactions ; Exchange ; Expropriation ; Finance and Financial Sector Development ; Financial Literacy ; Investment ; Investment Behavior ; Investment Decision ; Investment and Investment Climate ; Investments ; Labor Policies ; Law and Development ; Macroeconomics and Economic Growth ; Municipal Housing and Land ; Political Economy ; Private Sector Development ; Real Estate Development ; Social Protections and Labor ; Asymmetric Information ; Bank Policy ; Communities & Human Settlements ; Contract ; Contract Law ; Contracts ; Debt Markets ; Economic Theory and Research ; Economic Transactions ; Exchange ; Expropriation ; Finance and Financial Sector Development ; Financial Literacy ; Investment ; Investment Behavior ; Investment Decision ; Investment and Investment Climate ; Investments ; Labor Policies ; Law and Development ; Macroeconomics and Economic Growth ; Municipal Housing and Land ; Political Economy ; Private Sector Development ; Real Estate Development ; Social Protections and Labor ; Asymmetric Information ; Bank Policy ; Communities & Human Settlements ; Contract ; Contract Law ; Contracts ; Debt Markets ; Economic Theory and Research ; Economic Transactions ; Exchange ; Expropriation ; Finance and Financial Sector Development ; Financial Literacy ; Investment ; Investment Behavior ; Investment Decision ; Investment and Investment Climate ; Investments ; Labor Policies ; Law and Development ; Macroeconomics and Economic Growth ; Municipal Housing and Land ; Political Economy ; Private Sector Development ; Real Estate Development ; Social Protections and Labor
    Abstract: When contracts are incomplete, relationship-specific investments may be underprovided due to the threat of opportunistic expropriation or holdup. The authors find evidence of such underinvestment on tenanted land in rural Pakistan. Using data from households cultivating multiple plots under different tenure arrangements, they show that land-specific investment is lower on leased plots. This result is robust to the possible effects of asymmetric information in the leasing market. Greater tenure security also increases land-specific investment on leased plots. Moreover, variation in tenure security appears to be driven largely by heterogeneity across landlords, suggesting that reputation may be important in mitigating the holdup problem
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  • 86
    Language: English
    Pages: Online-Ressource (1 online resource (38 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Gine, Xavier Group Versus Individual Liability
    Keywords: Bank Policy ; Conversion ; Debt Markets ; Exchange ; Finance and Financial Sector Development ; Financial Literacy ; Financial Markets ; Good ; Group Lending ; Joint Liability ; Lender ; Liability ; Loans ; Micro-Enterprises ; Microcredit Microfinance ; Political Power ; Bank Policy ; Conversion ; Debt Markets ; Exchange ; Finance and Financial Sector Development ; Financial Literacy ; Financial Markets ; Good ; Group Lending ; Joint Liability ; Lender ; Liability ; Loans ; Micro-Enterprises ; Microcredit Microfinance ; Political Power ; Bank Policy ; Conversion ; Debt Markets ; Exchange ; Finance and Financial Sector Development ; Financial Literacy ; Financial Markets ; Good ; Group Lending ; Joint Liability ; Lender ; Liability ; Loans ; Micro-Enterprises ; Microcredit Microfinance ; Political Power
    Abstract: Group liability is often portrayed as the key innovation that led to the explosion of the microcredit movement, which started with the Grameen Bank in the 1970s and continues on today with hundreds of institutions around the world. Group lending claims to improve repayment rates and lower transaction costs when lending to the poor by providing incentives for peers to screen, monitor, and enforce each other's loans. However, some argue that group liability creates excessive pressure and discourages good clients from borrowing, jeopardizing both growth and sustainability. Therefore, it remains unclear whether group liability improves the lender's overall profitability and the poor's access to financial markets. The authors worked with a bank in the Philippines to conduct a field experiment to examine these issues. They randomly assigned half of the 169 pre-existing group liability 'centers' of approximately twenty women to individual-liability centers (treatment) and kept the other half as-is with group liability (control). We find that the conversion to individual liability does not affect the repayment rate, and leads to higher growth in center size by attracting new clients
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  • 87
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (58 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Beck, Thorsten The Basic Analytics of Access To Financial Services
    Keywords: Bank ; Banks ; Banks and Banking Reform ; Credit Risk ; Debt Markets ; Demand ; Deposit Economic Development ; Economic Theory and Research ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Financial Sector ; Financial Services ; Financial System ; Income ; Interest ; Interest Rate ; Macroeconomics and Economic Growth ; Private Sector Development ; Bank ; Banks ; Banks and Banking Reform ; Credit Risk ; Debt Markets ; Demand ; Deposit Economic Development ; Economic Theory and Research ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Financial Sector ; Financial Services ; Financial System ; Income ; Interest ; Interest Rate ; Macroeconomics and Economic Growth ; Private Sector Development ; Bank ; Banks ; Banks and Banking Reform ; Credit Risk ; Debt Markets ; Demand ; Deposit Economic Development ; Economic Theory and Research ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Financial Sector ; Financial Services ; Financial System ; Income ; Interest ; Interest Rate ; Macroeconomics and Economic Growth ; Private Sector Development
    Abstract: Access to financial services, or rather the lack thereof, is often indiscriminately decried as a problem in many developing countries. The authors argue that the "problem of access" should rather be analyzed by identifying different demand and supply constraints. They use the concept of an access possibilities frontier, drawn for a given set of state variables, to distinguish between cases where a financial system settles below the constrained optimum, cases where this constrained optimum is too low, and-in credit services-cases where the observed outcome is excessively high. They distinguish between payment and savings services and fixed intermediation costs, on the one hand, and lending services and different sources of credit risk, on the other hand. The authors include both supply and demand side frictions that can lead to lower access. The analysis helps identify bankable and banked population, the binding constraint to close the gap between the two, and policies to prudently expand the bankable population. This new conceptual framework can inform the debate on adequate policies to expand access to financial services and can serve as the basis for an informed measurement of access
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  • 88
    Language: English
    Pages: Online-Ressource (1 online resource (23 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Javorcik, Beata S Migrant Networks And Foreign Direct Investment
    Keywords: Countries of Origin ; Debt Markets ; Economic Growth ; Economic Theory and Research ; Employment Opportunities ; Finance and Financial Sector Development ; Financial Literacy ; Foreign Direct Investment ; Health, Nutrition and Population ; Host Countries ; Host Country ; International Borders ; International Trade ; Knowledge ; Macroeconomics and Economic Growth ; Migrant ; Population Policies ; Countries of Origin ; Debt Markets ; Economic Growth ; Economic Theory and Research ; Employment Opportunities ; Finance and Financial Sector Development ; Financial Literacy ; Foreign Direct Investment ; Health, Nutrition and Population ; Host Countries ; Host Country ; International Borders ; International Trade ; Knowledge ; Macroeconomics and Economic Growth ; Migrant ; Population Policies ; Countries of Origin ; Debt Markets ; Economic Growth ; Economic Theory and Research ; Employment Opportunities ; Finance and Financial Sector Development ; Financial Literacy ; Foreign Direct Investment ; Health, Nutrition and Population ; Host Countries ; Host Country ; International Borders ; International Trade ; Knowledge ; Macroeconomics and Economic Growth ; Migrant ; Population Policies
    Abstract: While there exists sizeable literature documenting the importance of ethnic networks for international trade, little attention has been devoted to studying the effects of networks on foreign direct investment (FDI). The existence of ethnic networks may positively affect FDI by promoting information flows across international borders and by serving as a contract enforcement mechanism. This paper investigates the link between the presence of migrants in the United States and U.S. FDI in the migrants' countries of origin, taking into account the potential endogeneity concerns. The results suggest that U.S. FDI abroad is positively correlated with the presence of migrants from the host country. The data further indicate that the relationship between FDI and migration is driven by the presence of migrants with a college education
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  • 89
    Language: English
    Pages: Online-Ressource (1 online resource (16 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Arnold, Jens Matthias Services Inputs And Firm Productivity In Sub-Saharan Africa
    Keywords: Access To Services ; Communications ; Data ; E-Business ; Economic Activities ; Economic Theory and Research ; Electricity ; Electronic Delivery ; Enterprise Survey ; Enterprise Surveys ; Export Markets ; Finance and Financial Sector Development ; Financial Literacy ; Financial Services ; Macroeconomics and Economic Growth ; Microfinance ; Private Sector Development ; Access To Services ; Communications ; Data ; E-Business ; Economic Activities ; Economic Theory and Research ; Electricity ; Electronic Delivery ; Enterprise Survey ; Enterprise Surveys ; Export Markets ; Finance and Financial Sector Development ; Financial Literacy ; Financial Services ; Macroeconomics and Economic Growth ; Microfinance ; Private Sector Development ; Access To Services ; Communications ; Data ; E-Business ; Economic Activities ; Economic Theory and Research ; Electricity ; Electronic Delivery ; Enterprise Survey ; Enterprise Surveys ; Export Markets ; Finance and Financial Sector Development ; Financial Literacy ; Financial Services ; Macroeconomics and Economic Growth ; Microfinance ; Private Sector Development
    Abstract: The authors investigate the relationship between the productivity of African manufacturing firms and their access to services inputs. They use data from the World Bank Enterprise Survey for over 1,000 firms in 10 Sub-Saharan African countries to calculate the total factor productivity of firms. The Enterprise Surveys also contain unique measures of firms' access to communications, electricity, and financial services. The availability of these measures at the firm level, both as subjective and objective indicators, allows the authors to exploit the variation in services performance at the subnational regional level. Furthermore, by using the regional variation in services performance, they are also able to address concerns about the possible endogeneity of the services variables. The results show a significant and positive relationship between firm productivity and service performance in all three services sectors analyzed. The authors thus provide support for the argument that improvements in services industries contribute to enhancing the performance of downstream economic activities, and thus are an essential element of a strategy for promoting growth and reducing poverty
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  • 90
    Language: English
    Pages: Online-Ressource (1 online resource (17 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Ley, Eduardo Jointness In Bayesian Variable Selection With Applications To Growth Regression
    Keywords: Arts and Music ; Calibration ; Climate Change ; Counting ; Covariance ; Culture & Development ; Data ; Econometrics ; Economic ; Educational Technology and Distance Learning ; Environment ; Evaluation ; Finance and Financial Sector Development ; Financial Literacy ; Indicators ; Information Security and Privacy ; Less ; Linear Regression ; Logarithms ; Macroeconomics and Economic Growth ; Matrix ; Poverty Reduction ; Precision ; Pro-Poor Growth ; Probab ; Probabilities ; Science and Technology Development ; Statistical and Mathematical Sciences ; Arts and Music ; Calibration ; Climate Change ; Counting ; Covariance ; Culture & Development ; Data ; Econometrics ; Economic ; Educational Technology and Distance Learning ; Environment ; Evaluation ; Finance and Financial Sector Development ; Financial Literacy ; Indicators ; Information Security and Privacy ; Less ; Linear Regression ; Logarithms ; Macroeconomics and Economic Growth ; Matrix ; Poverty Reduction ; Precision ; Pro-Poor Growth ; Probab ; Probabilities ; Science and Technology Development ; Statistical and Mathematical Sciences ; Arts and Music ; Calibration ; Climate Change ; Counting ; Covariance ; Culture & Development ; Data ; Econometrics ; Economic ; Educational Technology and Distance Learning ; Environment ; Evaluation ; Finance and Financial Sector Development ; Financial Literacy ; Indicators ; Information Security and Privacy ; Less ; Linear Regression ; Logarithms ; Macroeconomics and Economic Growth ; Matrix ; Poverty Reduction ; Precision ; Pro-Poor Growth ; Probab ; Probabilities ; Science and Technology Development ; Statistical and Mathematical Sciences
    Abstract: The authors present a measure of jointness to explore dependence among regressors in the context of Bayesian model selection. The jointness measure they propose equals the posterior odds ratio between those models that include a set of variables and the models that only include proper subsets. They show its application in cross-country growth regressions using two data-sets from the model-averaging growth literature
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  • 91
    Language: English
    Pages: Online-Ressource (1 online resource (54 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Sakho, Yaye Seynabou Contagion And Firms' Internationalization In Latin America
    Keywords: Bank Policy ; Capital Market ; Currencies and Exchange Rates ; Debt Markets ; Domestic Market ; Economic Theory and Research ; Emerging Market ; Emerging Markets ; Emerging Markets ; Exchange ; Finance ; Finance and Financial Sector Development ; Financial Contagion ; Financial Literacy ; Financial Markets ; Information Asymmetry ; International ; Investment and Investment Climate ; Macroeconomics and Economic Growth ; Markets and Market Access ; Private Sector Development ; Bank Policy ; Capital Market ; Currencies and Exchange Rates ; Debt Markets ; Domestic Market ; Economic Theory and Research ; Emerging Market ; Emerging Markets ; Emerging Markets ; Exchange ; Finance ; Finance and Financial Sector Development ; Financial Contagion ; Financial Literacy ; Financial Markets ; Information Asymmetry ; International ; Investment and Investment Climate ; Macroeconomics and Economic Growth ; Markets and Market Access ; Private Sector Development ; Bank Policy ; Capital Market ; Currencies and Exchange Rates ; Debt Markets ; Domestic Market ; Economic Theory and Research ; Emerging Market ; Emerging Markets ; Emerging Markets ; Exchange ; Finance ; Finance and Financial Sector Development ; Financial Contagion ; Financial Literacy ; Financial Markets ; Information Asymmetry ; International ; Investment and Investment Climate ; Macroeconomics and Economic Growth ; Markets and Market Access ; Private Sector Development
    Abstract: The author investigates whether contagion matters when emerging market firms cross-list their stocks in a developed capital market. She develops a rational expectations model where financial markets are segmented along emerging markets' borders and contagion spreads from one emerging market to another through the actions of international investors rebalancing their portfolio using stocks cross-listed in the developed market. The author finds that contagion is a cost of internationalization as cross-listed stocks are more affected by contagion than pure domestic stocks. Furthermore, a welfare analysis of international cross-listing versus financial autarky suggests that the benefits of internationalization in terms of less information asymmetry and better market efficiency offset the costs of contagion. Her model is able to explain some transmission of the 1998 Brazilian crisis to Mexico and Chile
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  • 92
    Language: English
    Pages: Online-Ressource (1 online resource (45 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Chen, Shaohua Are There Lasting Impacts of Aid To Poor Areas ?
    Keywords: Aid Effectiveness ; Anti-Poverty ; Communities & Human Settlements ; Community Participation ; Counterfactual ; Debt Markets ; Economic Growth ; Economic Theory and Research ; Extreme Poverty ; Finance and Financial Sector Development ; Financial Literacy ; Household Survey ; Housing and Human Habitats ; Income ; Income Gains ; Inequality ; Macroeconomics and Economic Growth ; Market Failures ; Poor ; Poverty Monitoring and Analysis ; Poverty Reduction ; Rural Development ; Rural Poverty Reduction ; Services and Transfers to Poor ; Aid Effectiveness ; Anti-Poverty ; Communities & Human Settlements ; Community Participation ; Counterfactual ; Debt Markets ; Economic Growth ; Economic Theory and Research ; Extreme Poverty ; Finance and Financial Sector Development ; Financial Literacy ; Household Survey ; Housing and Human Habitats ; Income ; Income Gains ; Inequality ; Macroeconomics and Economic Growth ; Market Failures ; Poor ; Poverty Monitoring and Analysis ; Poverty Reduction ; Rural Development ; Rural Poverty Reduction ; Services and Transfers to Poor ; Aid Effectiveness ; Anti-Poverty ; Communities & Human Settlements ; Community Participation ; Counterfactual ; Debt Markets ; Economic Growth ; Economic Theory and Research ; Extreme Poverty ; Finance and Financial Sector Development ; Financial Literacy ; Household Survey ; Housing and Human Habitats ; Income ; Income Gains ; Inequality ; Macroeconomics and Economic Growth ; Market Failures ; Poor ; Poverty Monitoring and Analysis ; Poverty Reduction ; Rural Development ; Rural Poverty Reduction ; Services and Transfers to Poor
    Abstract: The paper revisits the site of a large, World Bank-financed, rural development program in China 10 years after it began and four years after disbursements ended. The program emphasized community participation in multi-sectoral interventions (including farming, animal husbandry, infrastructure and social services). Data were collected on 2,000 households in project and nonproject areas, spanning 10 years. A double-difference estimator of the program's impact (on top of pre-existing governmental programs) reveals sizeable short-term income gains that were mostly saved. Only modest gains to mean consumption emerged in the longer term-in rough accord with the gain to permanent income. Certain types of households gained more than others. The educated poor were under-covered by the community-based selection process-greatly reducing overall impact. The main results are robust to corrections for various sources of selection bias, including village targeting and interference due to spillover effects generated by the response of local governments to the external aid
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  • 93
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (35 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Verner, Dorte Labor Markets And Income Generation In Rural Argentina
    Keywords: Finance and Financial Sector Development ; Financial Literacy ; Health, Nutrition and Population ; Household Size ; Income ; Income Distribution ; Irrigation ; Labor Markets ; Labor Policies ; Land Size ; Nonfarm Income ; Poor ; Poor People ; Population Policies ; Poverty ; Poverty Analysis ; Poverty Reduction ; Poverty Reduction ; Rural ; Rural Analysis ; Rural Development ; Rural Poverty Reduction ; Social Protections and Labor ; Finance and Financial Sector Development ; Financial Literacy ; Health, Nutrition and Population ; Household Size ; Income ; Income Distribution ; Irrigation ; Labor Markets ; Labor Policies ; Land Size ; Nonfarm Income ; Poor ; Poor People ; Population Policies ; Poverty ; Poverty Analysis ; Poverty Reduction ; Poverty Reduction ; Rural ; Rural Analysis ; Rural Development ; Rural Poverty Reduction ; Social Protections and Labor ; Finance and Financial Sector Development ; Financial Literacy ; Health, Nutrition and Population ; Household Size ; Income ; Income Distribution ; Irrigation ; Labor Markets ; Labor Policies ; Land Size ; Nonfarm Income ; Poor ; Poor People ; Population Policies ; Poverty ; Poverty Analysis ; Poverty Reduction ; Poverty Reduction ; Rural ; Rural Analysis ; Rural Development ; Rural Poverty Reduction ; Social Protections and Labor
    Abstract: This paper addresses three areas of the rural labor market-employment, labor wages, and agriculture producer incomes. Findings show that the poor allocate a lower share of their labor to farm sectors than the nonpoor do, but still around 70 percent work in agriculture, and the vast majority of rural workers are engaged in the informal sector. When examining nonfarm employment in rural Argentina, findings suggest that key determinants of access to employment and productivity in nonfarm activities are education, skills, land access, location, and gender. Employment analyses show that women have higher probability than men to participate in rural nonfarm activities and they are not confined to low-return employment. Moreover, workers living in poorer regions with land access are less likely to be employed in the nonfarm sector. There is strong evidence that educated people have better prospects in both the farm and nonfarm sectors, and that education is an important determinant of employment in the better-paid nonfarm activities. Labor wage analyses reveal that labor markets pay lower returns to poorer than to richer women and returns to education are increasing with increased level of completed education and income level. And nonfarm income and employment are highly correlated with gender, skills, household size, and education. This analysis also shows a rather heterogeneous impact pattern of individual characteristics across the income distribution, but education is important for all levels of income. Agricultural producer income analyses reveal that producers' income monotonically increases with land size and with completed education level, and positively correlates with road access and use of electricity, fertilizer, and irrigation. Finally, farms operated by women are slightly more productive than farms operated by men
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  • 94
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (61 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Lam, David The Demography of Youth In Developing Countries And Its Economic Implications
    Keywords: Changes In Fertility ; Demographic Changes ; Developing Countries ; Economic Change ; Economic Implications ; Family Resources ; Health, Nutrition and Population ; Labor Market ; Policy ; Policy Res ; Policy Research ; Population Policies ; Youth and Government ; Changes In Fertility ; Demographic Changes ; Developing Countries ; Economic Change ; Economic Implications ; Family Resources ; Health, Nutrition and Population ; Labor Market ; Policy ; Policy Res ; Policy Research ; Population Policies ; Youth and Government ; Changes In Fertility ; Demographic Changes ; Developing Countries ; Economic Change ; Economic Implications ; Family Resources ; Health, Nutrition and Population ; Labor Market ; Policy ; Policy Res ; Policy Research ; Population Policies ; Youth and Government
    Abstract: The number of young people is reaching unprecedented levels in most developing countries. In many countries, especially in East Asia and Latin America, youth populations are at or near their peak, and will decline in coming decades. In other countries, especially in Africa and South Asia, youth populations will continue growing for several decades. From an economic perspective, absolute numbers may be less important than the growth rate or relative size of youth cohorts. Growth rates and the ratio of youth to working-age population reached a peak in the 1970s or 1980s in most developing countries. The worst economic pressures of youth demography may have already occurred in many countries, although significant pressure will continue in Africa and South Asia
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  • 95
    Language: English
    Pages: Online-Ressource (1 online resource (42 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Anos Casero, Paloma Fiscal And Social Impact of A Nominal Exchange Rate Devaluation In Djibouti
    Keywords: Accounting ; Bank Policy ; Currencies and Exchange Rates ; Currency Devaluation ; Debt Markets ; Devaluation ; Developing Countries ; Economic Development ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Exchange ; Exchange Rate ; Expenditures ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal and Monetary Policy ; Foreign Currency ; Goods ; Macroeconomics and Economic Growth ; Poverty Reduction ; Private Sector Development ; Public Sector Development ; Rural Development ; Rural Poverty Reduction ; Accounting ; Bank Policy ; Currencies and Exchange Rates ; Currency Devaluation ; Debt Markets ; Devaluation ; Developing Countries ; Economic Development ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Exchange ; Exchange Rate ; Expenditures ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal and Monetary Policy ; Foreign Currency ; Goods ; Macroeconomics and Economic Growth ; Poverty Reduction ; Private Sector Development ; Public Sector Development ; Rural Development ; Rural Poverty Reduction ; Accounting ; Bank Policy ; Currencies and Exchange Rates ; Currency Devaluation ; Debt Markets ; Devaluation ; Developing Countries ; Economic Development ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Exchange ; Exchange Rate ; Expenditures ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal and Monetary Policy ; Foreign Currency ; Goods ; Macroeconomics and Economic Growth ; Poverty Reduction ; Private Sector Development ; Public Sector Development ; Rural Development ; Rural Poverty Reduction
    Abstract: Limited fiscal space limits Djibouti's ability to meet the Millennium Development Goals and improve the living conditions of its population. Djibouti's fiscal structure is unique in that almost 70 percent of government revenue is denominated in foreign currency (import taxes, foreign aid grants, and military revenue) while over 50 percent of government expenditure is denominated in local currency (wages, salaries, and social transfers). Djibouti's economic structure is also unusual in that merchandise exports of local origin are insignificant, and the country relies heavily on imported goods (food, medicines, consumer and capital goods). A currency devaluation, by reducing real wages, could potentially generate additional fiscal space that would help meet Djibouti's fundamental development goals. Using macroeconomic and household level data, the authors quantify the impact of a devaluation of the nominal exchange rate on fiscal savings, real public sector wages, real income, and poverty under various hypothetical scenarios of exchange-rate pass-through and magnitude of devaluation. They find that a currency devaluation could generate fiscal savings in the short-term, but it would have an adverse effect on poverty and income distribution. A 30 percent nominal exchange rate devaluation could generate fiscal savings amounting between 3 and 7 percent of GDP. At the same time, a 30 percent nominal devaluation could cause nearly a fifth of the poorest households to fall below the extreme poverty line and pull the same fraction of upper middle-income households below the national poverty line. The authors also find that currency devaluation could generate net fiscal savings even after accounting for the additional social transfers needed to compensate the poor for their real income loss. However, the absence of formal social safety nets limits the government's readiness to provide well-targeted and timely social transfers to the poor
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  • 96
    Language: English
    Pages: Online-Ressource (1 online resource (17 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: van Ryneveld, Philip Mobilizing Urban Infrastructure Finance Within A Responsible Fiscal Framework
    Keywords: Cities ; Debt ; Debt Markets ; Decentralization ; Employment ; Finance and Financial Sector Development ; Financial Literacy ; Governments ; Grants ; Guarantees ; Housing ; Infrastructure ; Labor ; Local Government ; Local Governments ; Metropolitan Area ; Municipal Financial Management ; Policy ; Public and Municipal Finance ; Subnational Governance ; Transport ; Transport Economics ; Urban Development ; Urban Economics ; Urban Governance and Management ; Cities ; Debt ; Debt Markets ; Decentralization ; Employment ; Finance and Financial Sector Development ; Financial Literacy ; Governments ; Grants ; Guarantees ; Housing ; Infrastructure ; Labor ; Local Government ; Local Governments ; Metropolitan Area ; Municipal Financial Management ; Policy ; Public and Municipal Finance ; Subnational Governance ; Transport ; Transport Economics ; Urban Development ; Urban Economics ; Urban Governance and Management ; Cities ; Debt ; Debt Markets ; Decentralization ; Employment ; Finance and Financial Sector Development ; Financial Literacy ; Governments ; Grants ; Guarantees ; Housing ; Infrastructure ; Labor ; Local Government ; Local Governments ; Metropolitan Area ; Municipal Financial Management ; Policy ; Public and Municipal Finance ; Subnational Governance ; Transport ; Transport Economics ; Urban Development ; Urban Economics ; Urban Governance and Management
    Abstract: Since South Africa held its first democratic elections in 1994, it has given significant attention to building an effective system of decentralization including provincial and local government. While provincial governments are responsible mainly for the implementation of social services such as health and education, the provision of much of the urban infrastructure is the responsibility of local government. Although many challenges remain, the country has made significant progress over the past decade in addressing urban service backlogs in poor areas. At the same time, it has greatly improved macroeconomic fundamentals. The system of financing local government seeks to place accountability firmly at the local level, with most revenues in the larger urban centers raised locally through a combination of local taxes and fees for services, while poorer regions are predominantly grant funded. The objective has been to encourage the financing of capital infrastructure through local borrowing based on sustainable, transparent local finances rather than national repayment guarantees, which are outlawed. There is some indirect subsidization of loans through the state-owned Development Bank of Southern Africa. But the emphasis is on achieving redistribution through transparent, formula-based grants paid directly from national to local governments. While further bedding down of the system is needed, the approach is proving largely successful. The paper concludes by recommending that the existing division between provinces as providers of social services and local governments as the key locus of responsibility for services related to the built environment should be strengthened, particularly through the devolution of more urban transport related functions. A number of key risks are also highlighted, including issues related to the reform of local business taxes
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  • 97
    Language: English
    Pages: Online-Ressource (1 online resource (46 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Grais, Wafik Corporate Governance In Institutions Offering Islamic Financial Services
    Keywords: Account Holders ; Accounting ; Agency Problem ; Bank Policy ; Banks and Banking Reform ; Central Bank ; Corporate Governance ; Corporate Law ; Debt Markets ; Depos Depositors ; Emerging Markets ; Exchange ; Federal Deposit Insurance ; Finance and Financial Sector Development ; Financial Literacy ; Holding ; Interests ; Islamic Finance ; Labor Policies ; Law and Development ; Private Sector Development ; Social Protections and Labor ; Account Holders ; Accounting ; Agency Problem ; Bank Policy ; Banks and Banking Reform ; Central Bank ; Corporate Governance ; Corporate Law ; Debt Markets ; Depos Depositors ; Emerging Markets ; Exchange ; Federal Deposit Insurance ; Finance and Financial Sector Development ; Financial Literacy ; Holding ; Interests ; Islamic Finance ; Labor Policies ; Law and Development ; Private Sector Development ; Social Protections and Labor ; Account Holders ; Accounting ; Agency Problem ; Bank Policy ; Banks and Banking Reform ; Central Bank ; Corporate Governance ; Corporate Law ; Debt Markets ; Depos Depositors ; Emerging Markets ; Exchange ; Federal Deposit Insurance ; Finance and Financial Sector Development ; Financial Literacy ; Holding ; Interests ; Islamic Finance ; Labor Policies ; Law and Development ; Private Sector Development ; Social Protections and Labor
    Abstract: This paper reviews institutions offering Islamic financial services (IIFS) corporate governance challenges and suggests options to address them. It first points out the importance of corporate governance for IIFS, where it would require a distinct treatment from conventional corporate governance and highlights three cases of distress of IIFS. It then dwells on prevailing corporate governance arrangements addressing IIFS' needs to ensure the consistency of their operations with Islamic finance principles and the protection of the financial interests of a stakeholders' category, namely depositors holding unrestricted investment accounts. It raises the issues of independence, confidentiality, competence, consistency, and disclosure that may bear on pronouncements of consistency with Islamic finance principles. It also discusses the agency problem of depositors holding unrestricted investment accounts. The paper argues for a governance framework that combines internal and external arrangements and relies significantly on transparency and disclosure of market relevant information
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  • 98
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (23 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Camara, Modibo K Deposit Insurance And Banking Reform In Russia
    Keywords: Bank ; Banking ; Banking Reform ; Banking System ; Banks and Banking Reform ; Commercial Banks ; Cred Deposit Insurance ; Debt Markets ; Deposits ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Crisis Management and Restructuring ; Financial Deepening ; Financial Institutions ; Financial Intermediation ; Financial Literacy ; Industry ; Legal Finance ; Private Sector Development ; Bank ; Banking ; Banking Reform ; Banking System ; Banks and Banking Reform ; Commercial Banks ; Cred Deposit Insurance ; Debt Markets ; Deposits ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Crisis Management and Restructuring ; Financial Deepening ; Financial Institutions ; Financial Intermediation ; Financial Literacy ; Industry ; Legal Finance ; Private Sector Development ; Bank ; Banking ; Banking Reform ; Banking System ; Banks and Banking Reform ; Commercial Banks ; Cred Deposit Insurance ; Debt Markets ; Deposits ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Crisis Management and Restructuring ; Financial Deepening ; Financial Institutions ; Financial Intermediation ; Financial Literacy ; Industry ; Legal Finance ; Private Sector Development
    Abstract: The objective of this paper is not to review the pros and cons of deposit insurance systems, but to focus, rather narrowly, on the recent adoption of a deposit insurance system (DIS) in Russia, the rationale offered, and the potential impact it might have on the stability and development of the Russian banking system. An attempt is made to draw some lessons from the implementation experience in Russia. The paper starts with a brief description of the Russian DIS, followed by an overview of the banking system's structure and some observations on the sequencing followed for adopting the DIS and the political economy of its adoption. It concludes with a discussion of areas requiring attention
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  • 99
    Language: English
    Pages: Online-Ressource (1 online resource (48 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Claessens, Stijn Finance And Hunger
    Keywords: Banks and Banking Reform ; Consumption ; Consumption Levels ; Cred Development ; Debt Markets ; Economic Growth ; Economic Theory and Research ; Extreme Poverty ; Finance and Financial Sector Development ; Financial Literacy ; Financial Sector ; GDP ; GDP Per Capital ; Income ; Inflation ; Macroeconomics and Economic Growth ; Per Capita Income ; Poverty Reduction ; Prices ; Pro-Poor Growth ; Rural Development ; Rural Poverty Reduction ; Banks and Banking Reform ; Consumption ; Consumption Levels ; Cred Development ; Debt Markets ; Economic Growth ; Economic Theory and Research ; Extreme Poverty ; Finance and Financial Sector Development ; Financial Literacy ; Financial Sector ; GDP ; GDP Per Capital ; Income ; Inflation ; Macroeconomics and Economic Growth ; Per Capita Income ; Poverty Reduction ; Prices ; Pro-Poor Growth ; Rural Development ; Rural Poverty Reduction ; Banks and Banking Reform ; Consumption ; Consumption Levels ; Cred Development ; Debt Markets ; Economic Growth ; Economic Theory and Research ; Extreme Poverty ; Finance and Financial Sector Development ; Financial Literacy ; Financial Sector ; GDP ; GDP Per Capital ; Income ; Inflation ; Macroeconomics and Economic Growth ; Per Capita Income ; Poverty Reduction ; Prices ; Pro-Poor Growth ; Rural Development ; Rural Poverty Reduction
    Abstract: Using cross-country and panel regressions, the authors show that financial sector development significantly reduces undernourishment (hunger), largely through gaining farmers and others access to productivity-enhancing equipment, translating into beneficial income and general effects. They show specifically that a deeper financial sector leads to higher agricultural productivity, including higher cereal yields, through increased fertilizer and tractor use. Higher productivity in turn leads to lower undernourishment. The results are robust to various specifications and econometric tests and imply that a 1 percentage point increase in private credit to GDP reduces undernourishment by 0.22-2.45 percentage points, or about one-quarter the impact of GDP per capita
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  • 100
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (25 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Niimi, Yoko Migration And Remittances
    Keywords: Debt Markets ; Developing Countries ; Finance and Financial Sector Development ; Foreign Direct Investment ; Government Policies ; Health, Nutrition and Population ; Home Countries ; Household Surveys ; Macroeconomics and Economic Growth ; Migrant ; Migrant Workers ; Migrants ; Migration ; Number of Migrants ; Office ; Population Policies ; Remittances ; Debt Markets ; Developing Countries ; Finance and Financial Sector Development ; Foreign Direct Investment ; Government Policies ; Health, Nutrition and Population ; Home Countries ; Household Surveys ; Macroeconomics and Economic Growth ; Migrant ; Migrant Workers ; Migrants ; Migration ; Number of Migrants ; Office ; Population Policies ; Remittances ; Debt Markets ; Developing Countries ; Finance and Financial Sector Development ; Foreign Direct Investment ; Government Policies ; Health, Nutrition and Population ; Home Countries ; Household Surveys ; Macroeconomics and Economic Growth ; Migrant ; Migrant Workers ; Migrants ; Migration ; Number of Migrants ; Office ; Population Policies ; Remittances
    Abstract: The authors empirically examine the determinants of remittance flows at the cross-country level. They consider, among other things, the significance of the level of migration, the education level of migrants, and financial sector development in determining remittances. Given the potential endogeneity problems, the migration and financial development variables are instrumented in the estimation. They find that the migration level is the main driver of remittance flows, even after controlling for the endogeneity bias through instrumental variable estimation. The authors also find that the education level of migrants relative to the population in home countries, the size of the economy, and the level of economic development of recipient countries adversely affect remittance flows. While they find the effect of financial sector development to be positive, its significance is not strongly supported in their analysis
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