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  • McKenzie, David  (72)
  • Mattoo, Aaditya  (60)
  • Demirguc-Kunt, Asli  (53)
  • Washington, D.C : The World Bank  (185)
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  • 1
    Sprache: Englisch
    Seiten: 1 Online-Ressource (68 pages)
    Paralleltitel: Erscheint auch als Iacovone, Leonardo Bayesian Impact Evaluation with Informative Priors: An Application to a Colombian Management and Export Improvement Program
    Schlagwort(e): Bayesian Impact Evaluation ; Competition Policy ; Competitiveness and Competition Policy ; Economic Theory and Research ; Export Competitiveness ; International Economics and Trade ; Macroeconomics and Economic Growth ; Management ; Prior Elicitation ; Private Sector Development ; Randomized Experiment ; Social Policy Evaluation Method
    Kurzfassung: Policymakers often test expensive new programs on relatively small samples. Formally incorporating informative Bayesian priors into impact evaluation offers the promise to learn more from these experiments. A Colombian government program which aimed to increase exporting was trialed experimentally on 200 firms with this goal in mind. Priors were elicited from academics, policymakers, and firms. Contrary to these priors, frequentist estimation can not reject 0 effects in 2019, and finds some negative impacts in 2020. For binary outcomes like whether firms export, frequentist estimates are relatively precise, and Bayesian credible posterior intervals update to overlap almost completely with standard confidence intervals. For outcomes like increasing export variety, where the priors align with the data, the value of these priors is seen in posterior intervals that are considerably narrower than frequentist confidence intervals. Finally, for noisy outcomes like export value, posterior intervals show almost no updating from the priors, highlighting how uninformative the data are about such outcomes
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  • 2
    Sprache: Englisch
    Seiten: 1 Online-Ressource (158 pages)
    Serie: World Bank East Asia and Pacific Regional Report
    Paralleltitel: Erscheint auch als
    Schlagwort(e): Basic Education ; Basic Learning Deficit ; Improved Learning ; Labor Skills Development ; Middle-Income ; Poor Teaching
    Kurzfassung: Countries in middle-income East Asia and the Pacific were already experiencing serious learning deficits prior to the COVID-19 pandemic. COVID-related school disruptions have only made things worse. Learning poverty -- defined as the percentage of 10-year-olds who cannot read and understand an age-appropriate text -- is as high as 90 percent in several countries. Several large Southeast Asian countries consistently perform well below expectations on adolescent learning assessments. This report examines key factors affecting student learning in the region, with emphasis on the central role of teachers and teaching quality. It also analyzes the role education technologies, which came into widespread use during the pandemic, and examines the political economy of education reform. The report presents recommendations on how countries can strengthen teaching to improve learning and, in doing so, can enhance productivity, growth, and future development in the region
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  • 3
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource (31 pages)
    Paralleltitel: Erscheint auch als Bruhn, Miriam Government Support and Firm Performance during COVID-19
    Schlagwort(e): Covid-19 ; Disease Control and Prevention ; Employment ; Government ; Health, Nutrition and Population ; Pandemic ; Private Sector Development ; Private Sector Economics ; Social Protections and Labor
    Kurzfassung: This paper assesses the medium-run effects of government support to firms during the COVID-19 crisis and whether the effectiveness of this support varied with its timing. Using data from three rounds of the World Bank's Enterprise Surveys COVID-19 Follow-up Surveys carried out between May 2020 and April 2022, it relates government support in Round 1 (received in the first half of 2020) and Round 2 (received during the second half of 2020 or early 2021) with firm performance in Round 3 (generally mid-2021). Controlling for a host of background characteristics, firms that received support in Round 1 performed better in terms of Round 3 sales, but only if they did not have continued support. Firms that also received support in Round 2 had similar Round 3 sales as those that received no support and were more likely to decrease employment. Firms that received government support only in Round 2 experienced no boost in Round 3 performance. The findings suggest that government support should be provided promptly, but it should also be phased out quickly
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  • 4
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource (53 pages)
    Paralleltitel: Erscheint auch als Bertoli, Simone Migration, Families, and Counterfactual Families
    Schlagwort(e): Counterfactual Reasoning ; Family Formation ; Human Rights ; International Economics and Trade ; International Migration ; Law and Development ; Macroeconomics and Economic Growth ; Migrant Policy ; Migrants Families ; Migration ; Remittances ; Status Quo Bias
    Kurzfassung: Migration changes how families form and dissolve, and how one should conceptualize the family. This has implications for thinking about how the migration decision is modelled when individuals are unable to picture the counterfactual families they may have. Differences in marital status can induce two otherwise identical individuals to make different migration decisions. It also has implications for attempts to causally estimate impacts of migration, when the family composition changes with the migration decision itself. This paper shows empirically that changing marital status after migration is widespread, and that the traditional model of a fixed family sending off a migrant who remains part of that same family only describes a minority of migrants moving from developing countries to the U.S. The authors draw out lessons from thinking about counterfactual families for empirical research and for migration policy
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  • 5
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource (30 pages)
    Paralleltitel: Erscheint auch als Freund, Caroline Is US Trade Policy Reshaping Global Supply Chains?
    Schlagwort(e): 10-Digit Us Import Data ; Bilateral Trade Decoupling ; China Supply Chains ; Diversification ; Global Value Chains ; Global Value Chains and Business Clustering ; International Economics and Trade ; Private Sector Development ; Reshoring ; Tariffs ; Trade Policy
    Kurzfassung: This paper examines the reshaping of supply chains using detailed US 10-digit import data (tariff-line level) between 2017 and 2022. The results show that while US-China decoupling in bilateral trade is real, supply chains remain intertwined with China. Over the period, China's share of US imports fell from 22 to 16 percent. The paper shows that the decline is due to US tariffs. US imports from China are being replaced with imports from large developing countries with revealed comparative advantage in a product. Countries replacing China tend to be deeply integrated into China's supply chains and are experiencing faster import growth from China, especially in strategic industries. Put differently, to displace China on the export side, countries must embrace China's supply chains. Within products, the reorientation of trade is consistent with a "China + 1" strategy, as opposed to diversified sourcing across multiple countries. There is some evidence of nearshoring, but it is exclusive to border nations, and there is no consistent evidence of reshoring. Despite the significant reshaping, China remained the top supplier of imported goods to the US in 2022
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  • 6
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource (12 pages)
    Paralleltitel: Erscheint auch als McKenzie, David Is there Still a Role for Direct Government Support to Firms in Developing Countries?
    Schlagwort(e): Development Economics and Aid Effectiveness ; Firm Support ; Green Growth Agenda ; Impact Evaluation ; Industrial Economics ; Industrial Policy ; Industry ; Macroeconomic Policy ; Macroeconomics and Economic Growth ; Subsidized Loans
    Kurzfassung: Should governments in developing countries directly support firms with policies such as grants, subsidized loans, and training and consulting programs, or should they instead just aim to enact sensible regulatory and macroeconomic policies and not attempt to engage in industrial policy While industrial policy has gained renewed attention in developed economies, it faces considerable skepticism in developing countries scarred by previous experiences and facing limited fiscal space. This paper discusses the rationale for government involvement, and then lessons from a recent research agenda in development economics on how to target these programs, on whether they induce firms to undertake additional activities, on avoiding political capture, and on how these interact with competition. This work shows that these policies can deliver some of their promised benefits, but that there is still much to learn and the need for systematic and serious attempts at prospective impact evaluation as new policies are launched
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  • 7
    Sprache: Englisch
    Seiten: 1 Online-Ressource (40 pages)
    Paralleltitel: Erscheint auch als Demirguc-Kunt, Asli Protect Incomes or Protect Jobs? The Role of Social Policies in Post-Pandemic Recovery
    Schlagwort(e): Cash Transfers ; Economic Intervention Effectiveness ; Employment and Unemployment ; Job Protection Measures ; Job Retention ; Labor Market Policy ; Labor Markets ; Labor Policies ; Pandemic Stimulus Effectiveness ; Post-Pandemic Economic Recovery ; Social Protection ; Social Protections and Labor ; Unemployment Insurance
    Kurzfassung: This paper examines the effectiveness of income protection and job protection policies for the post-pandemic economic recovery of the second half of 2020 through 2021. The paper is based on a new data set of the budgets of social protection programs implemented as a part of the pandemic stimulus package in 154 countries. The empirical analysis shows that, in the short run, higher expenditure on job protection measures is associated with more robust gross domestic product growth, increased employment, and decreased inactivity and poverty rates compared to the expansion of income protection programs. Both policies had a significant economic impact only in countries with weaker pre-pandemic social insurance systems. In countries with broader coverage of the social insurance system, the income and job protection programs appear to have had a limited impact on post-pandemic recovery. Because the structural economic changes induced by the pandemic are expected to materialize fully in several years, more research is needed to understand the longer-term effects of job protection and income protection policies on labor markets and economic recovery
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  • 8
    Sprache: Englisch
    Seiten: 1 Online-Ressource (28 pages)
    Paralleltitel: Erscheint auch als McKenzie, David Fears and Tears: Should More People be Moving within and from Developing Countries, and what Stops this Movement?
    Schlagwort(e): Attachment To Home ; Benefits of Urbanization ; Communities and Human Settlements ; Constraints That Limit Movement ; Economics of Migration ; Health, Nutrition and Population ; Human Migrations and Resettlements ; Internal Relocation ; International Economics and Trade ; International Migration ; Mental Health ; Migration Policy ; Psychological Uncertainty of Relocation ; Wealth and Wellbeing
    Kurzfassung: Only one in seven of the world's population has ever migrated, despite the enormous gains in income possible through international and internal movement. This paper examines the evidence for different explanations given in the economics literature for this lack of movement and their implications for policy. Incorrect information about the gains to migrating, liquidity constraints that prevent poor people paying the costs of moving, and high costs of movement arising from both physical transportation costs and policy barriers all inhibit movement and offer scope for policy efforts to inform, provide credit, and lower moving costs. However, the economics literature has paid less attention to the fears people have when faced with the uncertainty of moving to a new place, and to the reasons behind the tears they shed when moving. While these tears reveal the attachment people have to particular places, this attachment is not fixed, but itself changes with migration experiences. Psychological factors such as a bias toward the status quo and the inability to picture what one is giving up by not migrating can result in people not moving, even when they would benefit from movement and are not constrained by finances or policy barriers from doing so. This suggests new avenues for policy interventions that can help individuals better visualize the opportunity costs of not moving, alleviate their uncertainties, and help shift their default behavior from not migrating
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  • 9
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource (42 pages)
    Paralleltitel: Erscheint auch als McKenzie, David Field and Natural Experiments in Migration
    Schlagwort(e): Difference-In-Differences ; Economic Growth ; Experimental Methods ; Instrumental Variables ; Migration Experiments ; Natural Experiment ; Regression Discontinuity ; Social Protection and Labor
    Kurzfassung: Many research and policy questions surrounding migration are causal questions. What causes people to migrate? What are the consequences of migration for the migrants, their families, and their communities? Answering these questions requires dealing with the self-selection inherent in migration choices. Field and natural experiments offer methodological approaches that enable answering these causal questions. This paper discusses the key conceptual and logistical issues that face applied researchers when applying these methods to the study of migration, as well as providing guidance for practitioners and policymakers in assessing the credibility of causal claims. For randomized experiments, this includes providing a framework for thinking through what can be randomized; discussing key measurement and design issues that arise from issues such as migration being a rare event, and in measuring welfare changes when people change locations; as well as discussing ethical issues that can arise. The paper then outlines what makes for a good natural experiment in the context of migration, and discusses the implications of recent econometric work for the use of difference-indifferences, instrumental variables (and especially shift-share instruments), and regression discontinuity methods in migration research. A key lesson from this recent work is that it is not meaningful to talk about ?the? impact of migration, but rather impacts are likely to be heterogeneous, affecting both the validity and interpretation of causal estimates
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  • 10
    ISBN: 9781464818974
    Sprache: Englisch
    Seiten: 1 Online-Ressource (202 pages)
    Paralleltitel: Erscheint auch als
    Kurzfassung: The fourth edition of Global Findex--the world's most comprehensive database on financial inclusion--offers a lens into how people accessed and used financial services during COVID-19, when mobility restrictions and health policies drove increased demand for digital services of all kinds. Published every three years since 2011, Findex is the only global demand-side data source allowing for global and regional cross-country analysis to provide a rigorous and multidimensional picture of how adults save, borrow, make payments, and manage financial risks. Findex 2021 data were collected from national representative surveys of about 130,000 adults in more than 120 economies. The latest edition includes new series measuring financial health and resilience and contains more granular data on digital payments adoption, including merchant and government payments. The Global Findex is an indispensable resource for financial service practitioners, policy makers, researchers, and development professionals--
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  • 11
    Sprache: Englisch
    Seiten: 1 Online-Ressource (33 pages)
    Paralleltitel: Erscheint auch als Ana P., Cusolito Capacity Building as a Route to Export Market Expansion: A Six-Country Experiment in the Western Balkans
    Schlagwort(e): Broadcast and Media ; Consulting ; Customer Acquisition ; Digital Presence ; Export Competitiveness ; Export Market Expansion ; Information and Communication Technologies ; International Economics and Trade ; Marketing Training ; Private Sector Development ; Skills Development and Labor Force Training ; Small and Medium Enterprises (SME) ; Small and Medium Size Enterprises ; Training
    Kurzfassung: The limited market size of many small emerging economies is a key constraint to the growth of innovative small and medium enterprises. Exporting offers a potential solution, but firms may struggle to locate and appeal to foreign buyers. A six-country randomized experiment was conducted with 225 firms in the Western Balkans to test the effectiveness of 30 hours of live group-based training and 5 hours of one-on-one remote consulting in overcoming these constraints. Treated firms used techniques such as search engine optimization and improved Facebook content to increase their digital presence and better reach foreign customers. A year later, positive and significant impacts are found on the number of customers, and a significant intensive margin increase in export sales. Qualitative interviews suggest this improvement came from a combination of sector-specific advice on market expansion, and through an encouragement effect which gave entrepreneurs the confidence to try new sales strategies
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  • 12
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource (35 pages)
    Paralleltitel: Erscheint auch als Demirguc-Kunt, Asli Global Bank Lending under Climate Policy
    Schlagwort(e): Carbon Emmision Reduction Policy ; Climate Change ; Climate Change Economics ; Climate Change Mitigation and Green House Gases ; Climate Change Policy and Regulation ; Climate Policy Index ; Environment ; Environmental Performance ; Foreign Subsidiary Banks ; Global Banks Environmental Performance ; Green Capital Investment ; Macroeconomics and Economic Growth ; Public Sector Development
    Kurzfassung: What is the response of bank foreign subsidiaries to climate policy in their host countries This paper finds that global banks with high environmental performance increase their presence in countries after local authorities strengthen their climate-related actions. Through their foreign subsidiaries, these banks expand their credit by 4.6 percent following an increase of one-standard deviation in the host country's climate policy index. Importantly, the paper does not find evidence that banks with low environmental scores exit in response to climate initiatives. The findings show that strengthening climate policy might be a win-win strategy for policymakers in addition to addressing carbon emission reduction, climate-related initiatives also appear to attract foreign capital from lenders with strong preferences for green assets
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  • 13
    Sprache: Englisch
    Seiten: 1 Online-Ressource (31 pages)
    Paralleltitel: Erscheint auch als Print Version: Anderson, Stephen J What Prevents More Small Firms from Using Professional Business Services? An Information and Quality-Rating Experiment in Nigeria
    Kurzfassung: Why do more small firms in developing countries not use the market for professional business services like accounting, marketing, and human resource specialists? Two key reasons may be that firms lack information about the availability of these services, and that they struggle to distinguish the quality of good versus bad providers. A brand recognition exercise finds that most small firms are unaware of most providers in this market, and a survey of service providers reveals that they largely rely on word-of-mouth and informal reputation mechanisms for acquiring customers. This study set up a business services marketplace that contains information about the different providers present in the market and used mystery shopper visits to develop a quality ratings system. A randomized experiment with more than 1,000 firms provided access to this marketplace to the treatment group and randomized whether firms received just information or also quality ratings. The provision of quality ratings information shifts small firms' preferences over which provider they would like to use, increasing the average quality rating of their preferred providers by 0.2 to 0.4 ratings points out of 5. However, neither the provision of information nor these quality ratings had any significant impact on the likelihood that small firms go on to hire a business service provider over the subsequent six months. The results suggest that alleviating information frictions alone is insufficient to increase usage of professional business services
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  • 14
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource (41 pages)
    Paralleltitel: Erscheint auch als Print Version: Demirguc-Kunt, Asli Effects of Public Sector Wages on Corruption: Wage Inequality Matters
    Kurzfassung: The paper uses a new country-level, panel data set to study the effect of public sector wages on corruption. The results show that wage inequality in the public sector is an important determinant of the effectiveness of anti-corruption policies. Increasing the wages of public officials could help reduce corruption in countries with low public sector wage inequality. In countries where public sector wages are highly unequal, however, raising the wages of government employees could increase corruption. These results are robust to a wide range of empirical model specifications, estimation methods, and distributional assumptions. The relation persists when controlling for latent omitted variables, using the share of contracts in the private sector as an instrument for the public-private wage differential. Combining increases in public sector wages with policies affecting the wage distribution could help policy makers design cost-effective programs to reduce corruption in their countries
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  • 15
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource (28 pages)
    Paralleltitel: Erscheint auch als Print Version: Freund, Caroline Natural Disasters and the Reshaping of Global Value Chains
    Kurzfassung: To understand the longer term consequences of natural disasters for global value chains, this paper examines trade in the automobile and electronic sectors after the 2011 earthquake in Japan. Contrary to widespread expectations, the analysis shows that the shock did not lead to reshoring, nearshoring, or diversification; and trade in intermediate products was disrupted less than trade in final goods. Imports did shift to new suppliers, especially where dependence on Japan was greater. But production relocated to developing countries rather than to other top exporters. Despite important differences, the observed pattern of switching may be relevant to disasters like the COVID-19 pandemic
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  • 16
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource (84 pages)
    Paralleltitel: Erscheint auch als Print Version: Berger, Allen N Banking Research in the Time of COVID-19
    Schlagwort(e): Bailouts ; Banking Sector ; Bankruptcy and Resolution of Financial Distress ; Business Cycles and Stabilization Policies ; Capital Markets and Capital Flows ; Coronavirus ; COVID-19 ; Disease Control and Prevention ; Finance and Financial Sector Development ; Financial Crises ; Financial Regulation and Supervision ; Global Financial Crisis ; Health, Nutrition and Population ; Macroeconomics and Economic Growth ; Tarp
    Kurzfassung: Despite the devastating worldwide human and economic tolls of the COVID-19 crisis, it has created some positive economic and financial surprises and opportunities for research. This paper highlights two such favorable surprises -the shortest U.S. recession on record and the avoidance of any banking crisis-and a number of research opportunities. The paper ties the "economic surprise" of the short recession to the speed and size of U.S. stimulus programs during COVID-19-faster and larger than for the Global Financial Crisis (GFC). It connects the "financial surprise" of the resilient banking sector to prudential policies put in place during and after the GFC that fortified U.S. banks prior to COVID-19. These twin "surprises" are also mutually reinforcing-if either the economy or banking system had failed, so would the other. The paper also reviews extant COVID-19 banking research and suggests paths for future research. It recommends that particular attention be paid to research outside of the U.S.-where fewer favorable "surprises" may be present-as the best way to advance knowledge in this area
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  • 17
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource (49 pages)
    Paralleltitel: Erscheint auch als Print Version: Batista, Catia Testing Classic Theories of Migration in the Lab
    Schlagwort(e): Destination Choice ; Employment and Unemployment ; International Economics and Trade ; International Migration ; Lab Experiment ; Migrant Selection ; Poverty Reduction ; Social Protections and Labor ; Wages, Compensation and Benefits
    Kurzfassung: The predictions of different classic migration theories are tested by using incentivized laboratory experiments to investigate how potential migrants decide between working in different destinations. First, the authors test theories of income maximization, migrant skill-selection, and multi-destination choice as they vary migration costs, liquidity constraints, risk, social benefits, and incomplete information. The standard income maximization model of migration with selection on observed and unobserved skills leads to a much higher migration rate and more negative skill-selection than is obtained when migration decisions take place under more realistic assumptions. Second, these lab experiments are used to investigate whether the independence of irrelevant alternatives assumption holds. The results show that it holds for most people when decisions just involve wages, costs, and liquidity constraints. However, once the risk of unemployment and incomplete information is added, independence of irrelevant alternatives no longer holds for about 20 percent of the sample
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  • 18
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource (40 pages)
    Paralleltitel: Erscheint auch als Print Version: McKenzie, David Aspirations and Financial Decisions: Experimental Evidence from the Philippines
    Kurzfassung: A randomized experiment among poor entrepreneurs tested the impact of exogenously inducing higher financial aspirations. In theory, raising aspirations could have positive effects by inducing higher effort, but could also reduce effort if unmet aspirations lead to frustration. Treatment resulted in more ambitious savings goals, but nearly all individuals fell far short of reaching these goals. Two years later, treated individuals had not saved more, and actually had lower borrowing and business investments. Treatment also reduced belief in the amount of control over one's life. Setting aspirations too high can lead to frustration, leading individuals to reduce their economic investments
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  • 19
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource (24 pages)
    Paralleltitel: Erscheint auch als Print Version: Grover, Arti Why do Manufacturing Firms Sell Services? Evidence from India
    Kurzfassung: Manufacturers in India are increasingly selling services-a phenomenon referred to as servitization. Both the proportion of manufacturers selling services and the share of services in total revenue of manufacturers increased threefold between 1994 and 2013. More productive manufacturers and those more exposed to import competition are more likely to sell services and to obtain a higher share of their revenue from services. A 10 percent increase in servitization is associated with 2.6 percent increase in manufacturing revenue. However, servitizing firms suffer a greater contraction in manufacturing revenue with increased import competition. This evidence suggests that servitization is not a successful defensive strategy to maintain manufacturing sales in the face of import competition, and it is more likely to be an exit strategy to flee import competition. Corroborative results indicate that past services sales are positively associated with the introduction of new services products and eventually a switch out of manufacturing and into services as the primary activity. Thus, servitization appears to be an aspect of "premature deindustrialization" in India, driven by the inability of manufacturers to cope with import competition, rather than structural transformation associated with a maturing manufacturing sector
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  • 20
    Sprache: Englisch
    Seiten: 1 Online-Ressource (35 Seiten)
    Paralleltitel: Erscheint auch als Print Version: Islamaj, Ergys Lives versus Livelihoods during the COVID-19 Pandemic: How Testing Softens the Trade-Off
    Schlagwort(e): Coronavirus ; Wirtschaftskrise ; Lockdown ; Infektionsschutz ; Welt
    Kurzfassung: The early COVID-19 pandemic literature focused on the conflict between lives and livelihoods. But cross-country evidence reveals that across countries high mortality rates were often associated with large gross domestic product contractions. This paper shows that the presumed trade-off was associated with lockdowns as the primary instrument of containment. Early transition from lockdowns to testing-tracing-isolation-based containment softened the trade-off within countries and explains the absence of a trade-off across countries. The analysis finds that testing had positive indirect effects on growth and perhaps even positive direct effects. By allowing countries to relax shutdowns without compromising on containment, testing could have indirectly contributed to about a 0.6 percentage point boost in growth. By infusing greater confidence in people to step out and engage in economic activity, testing could have added another 0.6 percentage point to growth. As the world struggles to scale up vaccination in the face of new waves and variants, continued emphasis on testing could help limit infection without recourse to costly lockdowns
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  • 21
    Sprache: Englisch
    Seiten: 1 Online-Ressource (34 pages)
    Paralleltitel: Erscheint auch als Print Version: Bah, Tijan L How has COVID-19 Affected the Intention to Migrate via the Backway to Europe and to a Neighboring African Country? Survey Evidence and a Salience Experiment in the Gambia
    Kurzfassung: The COVID-19 pandemic has resulted in border closures in many countries and a sharp reduction in overall international mobility. However, this disruption of legal pathways to migration has raised concerns that potential migrants may turn to irregular migration routes as a substitute. This paper examines how the pandemic has changed intentions to migrate from The Gambia, the country with the highest pre-pandemic per-capita irregular migration rates in Africa. A large-scale panel survey conducted in 2019 and 2020 is used to compare changes in intentions to migrate to Europe and to neighboring Senegal. The data show that the pandemic has reduced the intention to migrate to both destinations, with approximately one-third of young males expressing less intention to migrate. The largest reductions in migration intentions are for individuals who were unsure of their intent pre-pandemic, and for poorer individuals who are no longer able to afford the costs of migrating at a time when these costs have increased and their remittance income has fallen. This paper also introduces the methodology of priming experiments to the study of migration intentions, by randomly varying the salience of the COVID-19 pandemic before eliciting intentions to migrate. There is no impact of this added salience, which appears to be because knowledge of the virus, while imperfect, was already enough to inform migration decisions. Nevertheless, despite these decreases in intentions, the overall desire to migrate the backway to Europe remains high, highlighting the need for legal migration pathways to support migrants and divert them from the risks of backway migration
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  • 22
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource (42 pages)
    Paralleltitel: Erscheint auch als Print Version: Bruhn, Miriam Competition and Firm Recovery Post-COVID-19
    Schlagwort(e): Business Cycles and Stabilization Policies ; Competitiveness and Competition Policy ; Coronavirus ; COVID-19 ; Creative Destruction ; Disease Control and Prevention ; Economic Recovery ; Enterprise Survey ; Firm Competition ; Government Support ; Health, Nutrition and Population ; Macroeconomics and Economic Growth ; Pandemic Response ; Private Sector Development ; Private Sector Economics ; Productivity
    Kurzfassung: This paper examines the impact of the COVID-19 crisis on the reallocation of economic activity across firms, and whether this reallocation depends on the competition environment. The paper uses the World Bank's Enterprise Surveys COVID-19 Follow-up Surveys for about 8,000 firms in 23 emerging and developing countries in Europe and Central Asia, matched with 2019 Enterprise Surveys data. It finds that during the COVID-19 crisis, economic activity was reallocated toward firms with higher pre-crisis labor productivity. Countries with a strong competition environment experienced more reallocation from less productive to more productive firms than countries with a weak competition environment. The evidence also suggests that reallocation from low- to high-productivity firms during the COVID-19 crisis was stronger compared with pre-crisis times. Finally, the analysis shows that government support measures implemented in response to the crisis may have adverse effects on competition and productivity growth since support went to less productive and larger firms, regardless of their pre-crisis innovation
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  • 23
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Policy Notes
    Kurzfassung: Faced with COVID-19 (Coronavirus), countries are taking drastic action based on little information. Two tests can help governments shorten and soften economically costly suppression measures while still containing the novel coronavirus (COVID-19) pandemic. The first-a PCR assay-identifies people currently infected by testing for the presence of live virus in the subject. The second-an antibody test-identifies those rendered immune after being infected by searching for COVID-19-specific antibodies. The first test can help contain the disease because it facilitates the identification of infected persons, the tracing of their contacts, and isolation in the very early stages of an epidemic-or after a period of suppression, in case of a resurgent epidemic. The second can help us assess the extent of immunity in the general population or subgroups, to finetune social isolation and to manage health care resources. Wide application of the two tests could transform the battle against COVID-19 (Coronavirus), but implementing either on a large scale in developing countries presents challenges. The first test is generally available, but needs to be processed in adequately equipped laboratories with trained staff. The second test is easy to perform and can be processed quickly on the spot, but at this stage it is produced and available only on a limited basis in a few countries. This policy brief reviews the use of both tests, suggests strategies to target their use, and discusses the benefits and costs of such strategies. If PCR assay testing, together with tracing and isolation, helps reduce the duration of suppression measures by two weeks, and antibody testing allows one-fifth of the immune return to work early, the gain could be about 2 percent of national income, or about
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  • 24
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Other papers
    Kurzfassung: Global trade growth slowed in 2018 amid a weakening of economic growth in China and the Euro Area and rising trade protectionism. The volume of trade grew by 3.8 percent, down from 5.4 percent in 2017, but has shown signs of reviving in the first quarter of 2019. However, the U.S. tariff increases implemented in early May and China's response might change the outlook. Trade policy developments are mixed. Restrictive trade measures imposed during 2018 affected 3.8 percent of world merchandise trade, nearly three times the share affected in any of the years since the global financial crisis of 2009. Tit-for-tat tariffs between the United States and China alone affected 2.0 percent of world merchandise trade in 2018. Ongoing trade tensions affected importers in United States and China significantly. While trade fell in targeted products, prices at the border did not change as compared with non-targeted products. Even though trade in stickier inputs tends to be relatively resilient in the short term, if trade tensions are not resolved, existing global value chains are likely to be disrupted in the longer term. It is in the long-term interest of industrial and developing countries for trade tensions to be resolved through a multilateral approach and World Trade Organization reforms
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  • 25
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    ISBN: 9781464812682
    Sprache: Englisch
    Seiten: 1 Online-Ressource (148 pages)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als
    Kurzfassung: In 2011 the World Bank-with funding from the Bill and Melinda Gates Foundation-launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Incorporated, the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account-the unbanked-as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals.The database, the full text of the report, and the underlying country-level data for all figures-along with the questionnaire, the survey methodology, and other relevant materials-are available at www.worldbank.org/globalfindex
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  • 26
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Other papers
    Kurzfassung: Trade rebounded in 2017, with trade volume growing at 4.3 percent in 2017 - the fastest rate in 6 years. The recovery of trade is not limited to a few regions but is widespread, suggesting that we may be at a turning point. The largest contributions to global trade growth have come from East Asian countries in the developing world and the Euro area in the developed world. Merchandise trade, which in recent years has been less resilient than services trade, picked up, growing by 4.5 percent in 2017. Cyclical factors drove better trade performance in 2017. Trade grew faster because real gross domestic product grew faster. Investment growth played a critical role because investment is the most import intensive component of aggregate demand, and capital goods production has longer global value chains (GVCs). Preliminary monthly data indicate that the import values of capital goods such as machinery and electrical equipment grew in 2017 at the fastest rates since 2012 and that they have been the most significant contributors to 2017 nonfuel import growth in the European Union and United States. The improved performance of trade may be widespread, but it is fragile. Some of the factors underlying the global trade slowdown of recent years - weak growth in GVCs and high trade policy uncertainty - are still present. In particular, there are serious risks in the trade policy domain. The share of merchandise trade that trade-restrictive measures cover remained stable at approximately 1 percent in 2017. But the portion due to trade remedy initiations - a harbinger of future protection - has increased significantly since 2015, and there are risks of policy reversals in major markets. At the same time, new deep trade agreements have recently entered into force and others are being negotiated
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  • 27
    Sprache: Englisch
    Seiten: 1 Online-Ressource (55 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Demirguc-Kunt, Asli Measuring the Effectiveness of Service Delivery: Delivery of Government Provided Goods and Services in India
    Kurzfassung: This paper uses new survey data to measure the government's capacity to deliver goods and services in a manner that includes: high coverage of the population; equal access; and high quality of service delivery. The paper finds variation in these indicators across and within Indian states. Overall: (i) access to government provided goods and services is low-about 60 percent of the surveyed population are unable to apply for goods and services they self-report needing; (ii) inequality in access is high-women and poor adults are more likely to report an inability to apply for goods and services they need; and (iii) less than a third of the respondents who did manage to apply for a government delivered good or service found the application process to be easy. Access can be improved by reducing application costs and processing times, simplifying the application process, and providing alternative channels to receive applications
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  • 28
    Sprache: Englisch
    Seiten: 1 Online-Ressource (27 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Demirguc-Kunt, Asli Financial Inclusion and Inclusive Growth: A Review of Recent Empirical Evidence
    Kurzfassung: There is growing evidence that appropriate financial services have substantial benefits for consumers, especially women and poor adults. This paper provides an overview of financial inclusion around the world and reviews the recent empirical evidence on how the use of financial products-such as payments services, savings accounts, loans, and insurance-can contribute to inclusive growth and economic development. This paper also discusses some of the challenges to achieving greater financial inclusion and directions for future research
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  • 29
    Sprache: Englisch
    Seiten: 1 Online-Ressource (32 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als McKenzie, David How Effective Are Active Labor Market Policies in Developing Countries? A Critical Review of Recent Evidence
    Kurzfassung: Jobs are the number one policy concern of policy makers in many countries. The global financial crisis, rising demographic pressures, high unemployment rates, and concerns over automation all make it seem imperative that policy makers employ increasingly more active labor market policies. This paper critically examines recent evaluations of labor market policies that have provided vocational training, wage subsidies, job search assistance, and assistance moving to argue that many active labor market policies are much less effective than policymakers typically assume. Many of these evaluations find no significant impacts on either employment or earnings. One reason is that urban labor markets appear to work reasonably well in many cases, with fewer market failures than is often thought. As a result, there is less of a role for many traditional active labor market policies than is common practice. The review then discusses examples of job creation policies that do seem to offer promise, and concludes with lessons for impact evaluation and policy is this area
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  • 30
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource (61 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Ayyagari, Meghana SME Finance
    Kurzfassung: This paper takes stock of the empirical evidence on the financing challenges faced by small and medium enterprises, especially in developing countries. The paper first discusses the institutional constraints that impede access to finance, including the lack of reliable credit information, lack of suitable collateral, and weak legal institutions. It next highlights firm heterogeneity among small and medium enterprises in accessing finance. The focus is on various policies and reforms that have been shown to be effective in improving access to credit for small and medium enterprises. The paper concludes by highlighting areas where new research could be effective
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  • 31
    Sprache: Englisch
    Seiten: 1 Online-Ressource (38 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Ibarra, Gabriel Lara Learning the Impact of Financial Education When Take-Up Is Low
    Kurzfassung: Financial education programs are increasingly offered by governments, nonprofits, and financial institutions. However, voluntary participation rates in such programs are often very low, posing a severe challenge for randomized experiments attempting to measure their impact. This study uses a large experiment on more than 100,000 credit card clients in Mexico. The study shows how the richness of financial data allows combining nonexperimental methods with the experiment to yield credible measures of impact, even with take-up rates below 1 percent. The findings show that a financial education workshop and personalized coaching result in a higher likelihood of paying credit cards on time, and of making more than the minimum payment, but do not reduce spending, resulting in higher profitability for the bank
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  • 32
    Sprache: Englisch
    Seiten: 1 Online-Ressource (55 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als McKenzie, David Growing Markets through Business Training for Female Entrepreneurs: A Market-Level Randomized Experiment in Kenya
    Kurzfassung: A common concern with efforts to directly help some small businesses to grow is that their growth comes at the expense of their unassisted competitors. This study tests this possibility using a two-stage randomized experiment in Kenya. The experiment randomizes business training at the market level, and then within markets to selected businesses. Three years after training, the treated businesses are selling more, earn higher profits, and their owners have higher well-being. There is no evidence of negative spillovers on the competing businesses, and the markets as a whole appear to have grown in terms of number of customers and sales volumes. This market growth appears to come from enhanced customer service and new product introduction, generating more customers and more sales from existing customers. As a result, business growth in underdeveloped markets is possible without taking sales away from nontreated businesses
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  • 33
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource (44 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Mattoo, Aaditya Trade Creation and Trade Diversion in Deep Agreements
    Schlagwort(e): Handelsabkommen ; Regionale Wirtschaftsintegration ; Politische Integration
    Kurzfassung: Preferential trade agreements have boomed in recent years and extended their reach well beyond tariff reduction, to cover policy areas such as investment, competition, and intellectual property rights. This paper uses new information on the content of preferential trade agreements to examine the trade effects of deep agreements and revisit the classic Vinerian question of trade creation and trade diversion. The results indicate that deep agreements lead to more trade creation and less trade diversion than shallow agreements. Furthermore, some provisions of deep agreements have a public good aspect and increase trade also with non-members
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  • 34
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource (32 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Heuser, Cecilia Services Trade and Global Value Chains
    Kurzfassung: Services play a role in global value chains in many ways, similar to goods. But services deserve special attention because of how they are transacted, how they affect downstream sectors, how they are regulated, and how international cooperation can contribute to integrating national markets. Databases on trade in value added, which cover only cross-border transactions in services, reveal a high and growing share of services in trade in value added across countries and industries. Although international transactions in services that take place through foreign investment are difficult to measure, their economic impact can be estimated. The resulting improved access to financial, communications, and transport services facilitates the emergence of global value chains, enhances downstream manufacturing firms' productivity, and shifts the pattern of comparative advantage toward sectors intensive in these services. Despite significant unilateral liberalization, service markets in many countries remain protected by restrictions on the entry of foreign services and service providers, as well as discretionary and discriminatory regulatory requirements. International cooperation in services has attempted to follow the example of reciprocal market opening for goods, but this approach has delivered little incremental liberalization. More could be achieved through greater emphasis on international regulatory cooperation
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  • 35
    Sprache: Englisch
    Seiten: 1 Online-Ressource (17 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Constantinescu, Cristina Does Vertical Specialization Increase Productivity?
    Kurzfassung: This paper investigates the impact of global value chain participation on productivity, using data on trade in value added from the World Input-Output Database. The results based on a panel estimation covering 13 sectors in 40 countries over 15 years suggest that participation in global value chains is a significant driver of labor productivity. Backward participation in global value chains, that is, the use of imported inputs to produce for exports, emerges as particularly important. An increase by 10 percent in the level of global value chain participation increased average productivity by close to 1.7 percent
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  • 36
    Sprache: Englisch
    Seiten: 1 Online-Ressource (32 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Demirguc-Kunt, Asli Making It Easier to Apply for a Bank Account: A Study of the Indian Market
    Kurzfassung: This paper draws on new individual-level survey data from India to study the costs of opening an account and the efficiency of the account application process. The data show a recent increase in account ownership, especially by women and poor adults. The data also suggest that India's flagship financial inclusion program, the Jan Dhan Yojana scheme, has made it easier to get an account, through lower costs and greater ease of applying. Yet despite the scheme's initial successes, people who wish to apply for an account continue to incur a range of costs. The survey results suggest several recommendations that could improve the account application process and increase ownership and usage of accounts
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  • 37
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource (46 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Gootiiz, Batshur Services in the Trans-Pacific Partnership: What Would Be Lost?
    Kurzfassung: As the fate of the Trans-Pacific Partnership (TPP) hangs in balance, an evaluation of what it offers could inform current decisions and shape future negotiations. The TPP's services component has been hailed as one of the agreement's major accomplishments. To assess the agreement's impact on national policy in the major services sectors, we created a new public database. This database reveals that TPP commitments seldom go beyond countries' applied policies, suggesting the explicit liberalization resulting from the agreement is limited only to a few countries and a few areas. However, the TPP enhances transparency and policy certainty because parties' services commitments cover more trading partners, more sectors and are in some cases closer to applied policies than their commitments under previous agreements. Furthermore, new TPP rules, including on state-owned enterprises, government procurement and competition policy, could enhance services market access. In particular, the TPP breaks new ground in prohibiting restrictions on international data flows, while at the same time creating unprecedented obligations on all parties to protect consumers from fraud and protect privacy. These dual obligations on importing and exporting countries represent a model for regulatory cooperation that could elicit greater market opening if applied to other areas
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  • 38
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Other papers
    Serie: World Bank E-Library Archive
    Kurzfassung: This edition of Global Trade Watch addresses three questions concerning recent trade developments: What is happening? Why? Does it matter? 2016 is the fifth consecutive year of sluggish trade growth and the year with the weakest trade performance since the aftermath of the 2008 global financial crisis. Current estimates of growth in the volumes of trade in goods and services range from 1.9 percent to 2.5 percent; preliminary high-frequency data suggest that merchandise trade volumes may have grown by slightly above 1 percent. The year 2016 is different from the other post crisis years, in that trade sluggishness is a characteristic of both advanced and emerging economies
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  • 39
    Sprache: Englisch
    Seiten: 1 Online-Ressource (60 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Benhassine, Najy Can Enhancing the Benefits of Formalization Induce Informal Firms to Become Formal? Experimental Evidence from Benin
    Kurzfassung: Governments around the world have introduced reforms to attempt to make it easier for informal firms to formalize. However, most informal firms have not gone on to become formal, especially when tax registration is involved. A randomized experiment based around the introduction of the entreprenant legal status in Benin is used to provide evidence from an African context on the willingness of informal firms to register after introducing a simple, free registration process, and to test the effectiveness of supplementary efforts to enhance the presumed benefits of formalization by facilitating its links to government training programs, support to open bank accounts, and tax mediation services. Few firms register when just given information about the new regime, but 9.6 percentage points more register when they were visited in person and the benefits were explained. The full package of supplementary efforts boosts the impact on the formalization rate to 16.3 percentage points, demonstrating that enhancing the benefits of formalization does induce more firms to formalize. Firms that are larger, and that look more like formal firms to begin with, are more likely to formalize, providing guidance for better targeting of such policies. However, formalization appears to offer limited benefits to the firms, and the costs of personalized assistance are high, suggesting that such enhanced formalization efforts are unlikely to pass cost-benefit tests
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  • 40
    Sprache: Englisch
    Seiten: 1 Online-Ressource (50 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Demirguc-Kunt, Asli How Does Long-Term Finance Affect Economic Volatility?
    Kurzfassung: This paper examines how the ability to access long-term debt affects firm-level growth volatility. The analysis finds that firms in industries with stronger preference to use long-term finance relative to short-term finance experience lower growth volatility in countries with better-developed financial systems, as these firms may benefit from reduced refinancing risk. Institutions that facilitate the availability of credit information and contract enforcement mitigate the refinancing risk and therefore growth volatility associated with short-term financing. Increased availability of long-term finance reduces growth volatility in crisis as well as non-crisis periods
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  • 41
    Sprache: Englisch
    Seiten: 1 Online-Ressource (60 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als de Mel, Suresh Labor Drops: Experimental Evidence on the Return to Additional Labor in Microenterprises
    Kurzfassung: The majority of enterprises in many developing countries have no paid workers. This paper reports on a field experiment conducted in Sri Lanka that provided wage subsidies to randomly chosen microenterprises to test whether hiring additional labor would benefit such firms. In the presence of labor market frictions, a short-term subsidy could have a lasting impact on firm employment. Using 12 rounds of surveys to track dynamics four years after the end of the subsidy, the study finds that firms increased employment during the subsidy period, but there was no lasting impact on employment, profitability, or sales. Two supplementary interventions and treatment heterogeneity suggest the lack of impact is not due to complementarities with capital or management skills, and detailed survey data help rule out a number of theoretical mechanisms that could result in sub-optimally low employment. The study concludes that the urban labor market facing microenterprises does not have large frictions that would prevent own-account workers from becoming employers
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  • 42
    Sprache: Englisch
    Seiten: 1 Online-Ressource (63 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Cull, Robert The Microfinance Business Model: Enduring Subsidy and Modest Profit
    Kurzfassung: Recent evidence suggests only modest social and economic impacts of microfinance. Favorable cost-benefit ratios then depend on low costs. This paper uses proprietary data on 1,335 microfinance institutions between 2005 and 2009, jointly serving 80.1 million borrowers, to calculate the costs of microfinance and other elements of the microfinance business model. It calculates that on average, subsidies amounted to
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  • 43
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource (43 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Demirguc-Kunt, Asli Saving for Old Age
    Kurzfassung: Countries around the world face a retirement crisis brought on by aging populations, declining birthrates, and fiscal shortfalls. As a result, policy makers increasingly seek to understand retirement savings patterns, a crucial component of the safety net for the elderly. Drawing on the 2014 Global Findex database, which provides individual-level data on the use of financial products in more than 140 countries, this paper examines how adults save for old age. It finds that about 25 percent of adults worldwide save for old age, with rates exceeding 35 percent in high-income Organisation for Economic Co-operation and Development economies and the East Asia and Pacific region. On average, men are slightly more likely than women to save for this purpose, but the gender gap is deeper in developing countries. Worldwide, saving for old age is more common among older adults, more educated adults, and adults who own accounts. Adults in countries with English legal origin, and with high savings rates, are also more likely to save for old age. The paper also finds that measures to increase trust in the financial system, such as the safety net/moral hazard index based on deposit insurance, lead to higher rates of saving for old age. Finally, the paper finds little evidence of substitution between pension system provisions and contribution rates with saving for old age
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  • 44
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource (26 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Constantinescu, Cristina Does the Global Trade Slowdown Matter?
    Kurzfassung: Since the Global Financial Crisis, world trade growth has been subdued and lagging slightly behind growth of gross domestic product. Trade is growing more slowly not only because growth of global gross domestic product is lower, but also because trade itself has become less responsive to gross domestic product. This paper reviews the reasons behind the changing trade-income relationship, and then investigates its consequences for economic growth. On the demand side, sluggish world import growth may adversely affect individual countries' economic growth, as it limits opportunities for their exports. On the supply side, slower trade may diminish the scope for productivity growth through increasing specialization and diffusion of technologies. The paper finds preliminary evidence that the changing trade-income relationship matters, although the quantifiable effects do not appear to be large
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  • 45
    Sprache: Englisch
    Seiten: 1 Online-Ressource (24 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als McKenzie, David Can Business Owners Form Accurate Counterfactuals? : Eliciting Treatment and Control Beliefs about Their Outcomes in the Alternative Treatment Status
    Kurzfassung: A survey of participants in a large-scale business plan competition experiment, in which winners received an average of US
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  • 46
    Sprache: Englisch
    Seiten: 1 Online-Ressource (35 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Gibson, John The Long-Term Impacts of International Migration: Evidence from a Lottery
    Kurzfassung: This study examines the long-term impacts of international migration by comparing immigrants who had successful ballot entries in a migration lottery program, and first moved almost a decade ago, with people who had unsuccessful entries into those same ballots. The long-term gain in income is found to be similar in magnitude to the gain in the first year, despite migrants upgrading their education and changing their locations and occupations. This results in large, sustained benefits to the migrants' immediate family, who have substantially higher consumption, durable asset ownership, savings, and dietary diversity. In contrast, the study finds no measureable impact on extended family
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  • 47
    Sprache: Englisch
    Seiten: 1 Online-Ressource (83 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Ayyagari, Meghana What Determines Entrepreneurial Outcomes in Emerging Markets?
    Kurzfassung: Is it the institutions or firm characteristics at birth that shape startups and their early growth in developing countries? Using comprehensive data from the Indian Annual Survey of Industries this paper addresses this question by studying the early lifecycle of firms across diverse institutional environments of regions in India. It finds that the size and characteristics of a start-up at entry are persistent over the first eight years of a firm's life. However, given these initial conditions at entry, institutions do not have much explanatory power in determining growth. The comparative growth rates of large and small start-ups are not significantly different across states with different local institutions or industries with differing reliance on external finance or need for fixed capital. But institutions, particularly the availability of credit, do have an impact on the initial entry process. Access to external finance is associated with greater overall entry, and also smaller sized entry. The results do not appear to be driven by endogeneity of access to credit or sample selection. The results show that the channel through which institutions affect the relative outcomes of young firms is through the initial distribution of firm characteristics at entry rather than their effect on the performance of the firms post entry
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  • 48
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource (56 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Gootiiz, Batshur Regionalism in Services: A Study of ASEAN
    Kurzfassung: Can regionalism do what multilateralism has so far failed to do-promote greater openness of services markets? Although previous research has pointed to the wider and deeper legal commitments under regional agreements as proof that it can, no previous study has assessed the impact of such agreements on applied policies. This paper focuses on the Association of Southeast Asian Nations (ASEAN), where regional integration of services markets has been linked to thriving regional supply chains. Drawing on surveys conducted in 2008 and 2012 of applied policies in the key services sectors of ASEAN countries, the paper assesses the impact of the ASEAN Framework Agreement on Services (AFAS) and the ambitious ASEAN Economic Community Blueprint, which envisaged integrated services markets by 2015. The analysis finds that over this period, ASEAN did not integrate faster internally than vis-a-vis the rest of the world: policies applied to trade with other ASEAN countries were virtually the same as those applied to trade with rest of the world. Moreover, the recent commitments scheduled under AFAS did not produce significant liberalization and, in a few instances, services trade policy actually became more restrictive. The two exceptions are in areas that are not on the multilateral negotiating agenda: steps have been taken toward creating regional open skies in air transport, and a few mutual recognition agreements have been negotiated in professional services. These findings suggest that regional negotiations add the most value when they are focused on areas that are not being addressed multilaterally
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  • 49
    Sprache: Englisch
    Seiten: 1 Online-Ressource (23 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als McKenzie, David The Additionality Impact of a Matching Grant Program for Small Firms: Experimental Evidence from Yemen
    Kurzfassung: Matching grants are one of the most common types of private sector development programs used in developing countries. But government subsidies to private firms can be controversial. A key question is that of additionality: do these programs get firms to undertake innovative activities that they would not otherwise do, or merely subsidize activities that would take place anyway? Randomized controlled trials can provide the counterfactual needed to answer this question, but efforts to experiment with matching grant programs have often failed. This paper uses a randomized controlled trial of a matching grant program for firms in the Republic of Yemen to demonstrate the feasibility of conducting experiments with well-designed programs, and to measure the additionality impact. In the first year, the matching grant is found to have led to more product innovation, firms upgrading their accounting systems, marketing more, making more capital investments, and being more likely to report their sales grew
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  • 50
    Sprache: Englisch
    Seiten: 1 Online-Ressource (39 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Chellaraj, Gnanaraj Can the Knowledge Capital Model Explain Foreign Investment in Services? The Case of Singapore
    Kurzfassung: Singapore has been a powerful magnet for foreign direct investment and in recent years has also made significant investments abroad, especially in developing countries and increasingly in services. This paper analyzes the determinants of Singapore's investment using the Knowledge-Capital Model and compares the impact of skill endowments on manufacturing and service sector investments. The results suggest that inward and outward investment with respect to industrialized countries in manufacturing and services was skill-seeking. A 10 percent decline in skill differences with industrialized countries resulted in a 19 percent rise in inbound manufacturing investment stocks, but only a 7 percent rise in inbound services stocks. Inward investment from developing countries in services was also skill-seeking, but outward investment to developing countries in both sectors was labor-seeking. A 10 percent increase in skill differences with developing countries resulted in a 23 percent rise in outbound manufacturing investment stocks and a 13 percent rise in outbound services stocks. Furthermore, when the analysis distinguishes between services on the basis of skill intensity, there is a significant difference between the determinants of foreign direct investment in skill-intensive services and foreign direct investment in other services and goods. However, when services are disaggregated on the basis of "proximity" needs, there is no significant difference in the determinants of foreign direct investment in proximity services compared with foreign direct investment in non-proximity services
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  • 51
    Sprache: Englisch
    Seiten: 1 Online-Ressource (43 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Campos, Francisco Short-Term Impacts of Formalization Assistance and a Bank Information Session on Business Registration and Access to Finance in Malawi
    Kurzfassung: Despite regulatory efforts designed to make it easier for firms to formalize, informality remains extremely high among firms in Sub-Saharan Africa. In most of the region, business registration in a national registry is separate from tax registration. This paper provides initial results from an experiment in Malawi that randomly allocated firms into a control group and three treatment groups: a) a group offered assistance for costless business registration; b) a group offered assistance with costless business registration and (separate) tax registration; and c) a group offered assistance for costless business registration along with an information session at a bank that ended with the offer of business bank accounts. The study finds that all three treatments had extremely large impacts on business registration, with 75 percent of those offered assistance receiving a business registration certificate. The findings offer a cost-effective way of getting firms to formalize in this dimension. However, in common with other studies, information and assistance has a limited impact on tax registration. The paper measures the short-term impacts of formalization on financial access and usage. Business registration alone has no impact for either men or women on bank account usage, savings, or credit. However, the combination of formalization assistance and the bank information session results in significant impacts on having a business bank account, financial practices, savings, and use of complementary financial products
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  • 52
    Sprache: Englisch
    Seiten: 1 Online-Ressource (60 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Demirguc-Kunt, Asli The Impact of the Global Financial Crisis on Firms Capital Structure
    Kurzfassung: Using a data set covering about 277,000 firms across 79 countries over the period 2004-11, this paper examines the evolution of firms capital structure during the global financial crisis and its aftermath in 2010-11. The study finds that firm leverage and debt maturity declined in advanced economies and developing countries, even in countries that did not experience a crisis. The deleveraging and maturity reduction were particularly significant for privately held firms, including small and medium enterprises. For small and medium-size enterprises, these effects were larger in countries with less efficient legal systems, weaker information-sharing mechanisms, shallower banking systems, and more restrictions on bank entry. In contrast, there is weaker evidence of a significant decline of leverage and debt maturity among firms listed on a stock exchange, which are typically much larger than other firms and likely benefit from the "spare tire" of easier access to capital market financing
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  • 53
    Sprache: Englisch
    Seiten: 1 Online-Ressource (22 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als McKenzie, David The Demand for, and Impact of, Youth Internships: Evidence from a Randomized Experiment in Yemen
    Kurzfassung: This paper evaluates a youth internship program in the Republic of Yemen that provided firms with a 50 percent subsidy to hire recent graduates of universities and vocational schools. The first round of the program took place in 2014 and required both firms and youth to apply for the program. The paper examines the demand for such a program, and finds that in the context of an economy facing substantial political and economic uncertainty, it appears there is an oversupply of graduates in science, technology, engineering, and mathematics, and a relative undersupply of graduates in marketing and business. Conditional on the types of graduates firms were looking to hire as interns, applicants were then randomly chosen for the program. Receiving an internship resulted in an almost doubling of work experience in 2014, and a 73 percent increase in income during this period compared with the control group. A short-term follow-up survey conducted just as civil conflict was breaking out shows that internship recipients had better employment outcomes than the control group in the first five months after the program ended
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  • 54
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource (42 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als McKenzie, David Business Practices in Small Firms in Developing Countries
    Kurzfassung: Management has a large effect on the productivity of large firms. But does management matter in micro and small firms, where the majority of the labor force in developing countries works? This study developed 26 questions that measure business practices in marketing, stock-keeping, record-keeping, and financial planning. These questions have been administered in surveys in Bangladesh, Chile, Ghana, Kenya, Mexico, Nigeria, and Sri Lanka. This paper shows that variation in business practices explains as much of the variation in outcomes-sales, profits, and labor productivity and total factor productivity-in microenterprises as in larger enterprises. Panel data from three countries indicate that better business practices predict higher survival rates and faster sales growth. The effect of business practices is robust to including many measures of the owner's human capital. The analysis finds that owners with higher human capital, children of entrepreneurs, and firms with employees employ better business practices. Competition has less robust effects
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  • 55
    Sprache: Englisch
    Seiten: 1 Online-Ressource (74 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als McKenzie, David Identifying and Spurring High-Growth Entrepreneurship: Experimental Evidence from a Business Plan Competition
    Kurzfassung: Almost all firms in developing countries have fewer than 10 workers, with the modal firm consisting of just the owner. Are there potential high-growth entrepreneurs with the ability to grow their firms beyond this size? And, if so, can public policy help alleviate the constraints that prevent these entrepreneurs from doing so? A large-scale national business plan competition in Nigeria is used to help provide evidence on these two questions. The competition was launched with much fanfare, and attracted almost 24,000 entrants. Random assignment was used to select some of the winners from a pool of semi-finalists, with US
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  • 56
    Sprache: Englisch
    Seiten: 1 Online-Ressource (65 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Anderson, James E Dark Costs, Missing Data: Shedding Some Light on Services Trade
    Kurzfassung: A structural gravity model is used to estimate barriers to services trade across many sectors, countries, and time. Since the disaggregated output data needed to infer border barriers flexibly are often missing for services, this paper derives a novel methodology for projecting output data. The empirical implementation sheds light on the role of institutions, geography, size, and digital infrastructure as determinants of border barriers. The paper finds that border barriers have generally fallen over time, but there are differences across sectors and countries. Notably, border effects for the smallest economies have remained stable, giving rise to a divergent pattern across countries
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  • 57
    Sprache: Englisch
    Seiten: 1 Online-Ressource (54 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Ayyagari, Meghana Are Large Firms Born or Made? Evidence from Developing Countries
    Kurzfassung: This paper uses survey data from 120 developing countries to compare the role of institutions with firm characteristics at the time of creation of the firm in explaining the size, growth, and productivity of firms over their lifecycle. The study finds that firm-level characteristics have comparable, and sometimes even larger, power than institutional factors in predicting size and growth, but not productivity. In particular, size at birth plays a key role in predicting variation in firm size and growth since birth over the firm lifecycle, whereas country factors dominate in predicting variation in labor productivity over the firm lifecycle. The study also finds that older firms are larger, partly because of the selection of more efficient firms. The findings point to the importance of initial founding conditions in explaining variations in size and growth over the firm lifecycle across countries
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  • 58
    Sprache: Englisch
    Seiten: 1 Online-Ressource (97 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Demirguc-Kunt, Asli The Global Findex Database 2014
    Kurzfassung: The Global Financial Inclusion (Global Findex) database, launched by the World Bank in 2011, provides comparable indicators showing how people around the world save, borrow, make payments, and manage risk. The 2014 edition of the database reveals that 62 percent of adults worldwide have an account at a bank or another type of financial institution or with a mobile money provider. Between 2011 and 2014, 700 million adults became account holders while the number of those without an account-the unbanked-dropped by 20 percent to 2 billion. What drove this increase in account ownership? A growth in account penetration of 13 percentage points in developing economies and innovations in technology-particularly mobile money, which is helping to rapidly expand access to financial services in Sub-Saharan Africa. Along with these gains, the data also show that big opportunities remain to increase financial inclusion, especially among women and poor people. Governments and the private sector can play a pivotal role by shifting the payment of wages and government transfers from cash into accounts. There are also large opportunities to spur greater use of accounts, allowing those who already have one to benefit more fully from financial inclusion. In developing economies 1.3 billion adults with an account pay utility bills in cash, and more than half a billion pay school fees in cash. Digitizing payments like these would enable account holders to make the payments in a way that is easier, more affordable, and more secure
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  • 59
    Sprache: Englisch
    Seiten: 1 Online-Ressource (39 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Benhassine, Najy Finding a Path to Formalization in Benin: Early Results after the Introduction of the Entreprenant Legal Status
    Kurzfassung: In April 2014, the Government of Benin launched the entreprenant status, a simplified and free legal regime offered to small informal businesses to enter the formal economy. This paper presents the short-term results of a randomized impact evaluation testing three different versions of the entreprenant status on business registration decisions, each version including incremental incentives to registration: (i) information on the new legal status and its benefits, (ii) business training, counseling services, and support to open a bank account, (iii) tax mediation services. The study included 3,600 informal businesses operating with a fixed location in Cotonou, Benin, which were randomly allocated between three treatment groups and one control group. One year after the program launch, all versions of the program had significant impact on formalization rates. The impact was 9.1 percentage points in the first treatment group; 13 percentage points in the second group; and 15.8 percentage points in the last group. The program had a higher impact on male business owners, with more education, operating outside Dantokpa Market, in sectors other than trade, and that before being offered the incentives to formalization had characteristics similar to businesses that were already formal. Data from a second follow-up survey, which is expected to take place in March 2016, will explore the impacts on other outcomes, like business performances or access to banking
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  • 60
    Sprache: Englisch
    Seiten: Online-Ressource (27 p)
    Ausgabe: 2014 World Bank eLibrary
    Paralleltitel: Cadot, Olivier Evaluating Aid for Trade
    Kurzfassung: The demand for accountability in aid-for-trade is increasing but monitoring has focused on case studies and impressionistic narratives. The paper reviews recent evidence from a wide range of studies, recognizing that a multiplicity of approaches is needed to learn what works and what does not. The review concludes that there is some support for the emphasis on reducing trade costs through investments in hard infrastructure (like ports and roads) and soft infrastructure (like customs). But failure to implement complementary reform-especially the introduction of competition in transport services-may erode the benefits of these investments. Direct support to exporters does seem to lead to diversification across products and destinations, but it is not yet clear that these benefits are durable. In general, it is difficult to rely on cross-country studies to direct aid-for-trade. More rigorous impact evaluation is an underutilized alternative, but situations of clinical interventions in trade are rare and adverse incentives (because of agency problems) and costs (because of the small size of project) are a hurdle in implementation
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  • 61
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: Online-Ressource (27 p)
    Ausgabe: 2014 World Bank eLibrary
    Paralleltitel: Kraay, Aart Do Poverty Traps Exist?
    Kurzfassung: This paper reviews the empirical evidence on the existence of poverty traps, understood as self-reinforcing mechanisms through which poor individuals or countries remain poor. Poverty traps have captured the interest of many development policy makers, because poverty traps provide a theoretically coherent explanation for persistent poverty. They also suggest that temporary policy interventions may have long-term effects on poverty. However, a review of the reduced-form empirical evidence suggests that truly stagnant incomes of the sort predicted by standard models of poverty traps are in fact quite rare. Moreover, the empirical evidence regarding several canonical mechanisms underlying models of poverty traps is mixed
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  • 62
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: Online-Ressource (37 p)
    Ausgabe: 2014 World Bank eLibrary
    Paralleltitel: Cristea, Anca Open Skies over the Middle East
    Kurzfassung: The dynamism of air traffic markets in the Middle East obscures the persistence of restrictions on international competition. But how important are such restrictions for passenger traffic? This paper uses detailed data on worldwide passenger aviation to estimate the effect of air transport policy on international air traffic. The policy variable is a quantitative measure of the commitments under international agreements. The paper analyzes, for the first time, not only bilateral agreements, but also plurilateral agreements such as the one between Arab states. The analysis finds that more liberal policy is associated with greater passenger traffic between countries. Higher traffic levels appear to be driven primarily by larger numbers of city pairs being served, rather than by more passengers traveling along given routes. To demonstrate the quantitative implication of the estimates, two liberalization scenarios in the Middle East are evaluated. Deepening the plurilateral agreement among Arab states would lead to a 30 percent increase in intraregional passenger traffic. Widening the agreement to include Turkey would generate significantly larger gains because current policy vis-`-vis Turkey is much more restrictive
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  • 63
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: Online-Ressource (42 p)
    Ausgabe: 2014 World Bank eLibrary
    Paralleltitel: Anginer, Deniz Bank Capital and Systemic Stability
    Kurzfassung: This paper distinguishes among various types of capital and examines their effect on system-wide fragility. The analysis finds that higher quality forms of capital reduce the systemic risk contribution of banks, whereas lower quality forms can have a destabilizing impact, particularly during crisis periods. The impact of capital on systemic risk is less pronounced for smaller banks, for banks located in countries with more generous safety nets, and in countries with institutions that allow for better public and private monitoring of financial institutions. The results show that regulatory capital is effective in reducing systemic risk and that regulatory risk weights are correlated with higher future asset volatility, but this relationship is significantly weaker for larger banks. The paper also finds that increased regulatory risk-weights not correlated with future asset volatility increase systemic fragility. Overall, the results are consistent with the theoretical literature that emphasizes capital as a potential buffer in absorbing liquidity, information, and economic shocks reducing contagious defaults
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  • 64
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: Online-Ressource (30 p)
    Ausgabe: 2014 World Bank eLibrary
    Paralleltitel: Gibson, John Development through Seasonal Worker Programs
    Kurzfassung: Seasonal worker programs are increasingly seen as offering the potential to be part of international development policy. New Zealand's Recognised Seasonal Employer program is one of the first and most prominent of programs designed with this perspective. This paper provides a detailed examination of this policy through the first six seasons. This includes the important role of policy facilitation measures taken by governments and aid agencies. The evolution of the program in terms of worker numbers is discussed, along with new data on the (high) degree of circularity in worker movements, and new data on (very low) worker overstay rates. There appears to have been little displacement of New Zealand workers, and new data show Recognised Seasonal Employer workers to be more productive than local labor and that workers appear to gain productivity as they return for subsequent seasons. The program has also benefitted the migrants participating in the program, with increases in per capita incomes, expenditure, savings, and subjective well-being. Taken together, this evidence suggests that the program is largely living up to its promise of a "triple win" for migrants, their sending countries in the Pacific, and New Zealand
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  • 65
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: Online-Ressource (51 p)
    Ausgabe: 2014 World Bank eLibrary
    Paralleltitel: Clemens, Michael A Why Don't Remittances Appear to Affect Growth?
    Kurzfassung: Although measured remittances by migrant workers have soared in recent years, macroeconomic studies have difficulty detecting their effect on economic growth. This paper reviews existing explanations for this puzzle and proposes three new ones. First, it offers evidence that a large majority of the recent rise in measured remittances may be illusory-arising from changes in measurement, not changes in real financial flows. Second, it shows that even if these increases were correctly measured, cross-country regressions would have too little power to detect their effects on growth. Third, it points out that the greatest driver of rising remittances is rising migration, which has an opportunity cost to economic product at the origin. Net of that cost, there is little reason to expect large growth effects of remittances in the origin economy. Migration and remittances clearly have first-order effects on poverty at the origin, on the welfare of migrants and their families, and on global gross domestic product; but detecting their effects on growth of the origin economy is likely to remain elusive
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  • 66
    Sprache: Englisch
    Seiten: Online-Ressource (26 p)
    Ausgabe: 2014 World Bank eLibrary
    Paralleltitel: De Arcangelis, Giuseppe Directing Remittances to Education with Soft and Hard Commitments
    Kurzfassung: This paper tests how migrants' willingness to remit changes when given the ability to direct remittances to educational purposes using different forms of commitment. Variants of a dictator game in a lab-in-the-field experiment with Filipino migrants in Rome are used to examine remitting behavior under varying degrees of commitment. These range from the soft commitment of simply labeling remittances as being for education, to the hard commitment of having funds directly paid to a school and the student's educational performance monitored. The analysis finds that the introduction of simple labeling for education raises remittances by more than 15 percent. Adding the ability to directly send this funding to the school adds only a further 2.2 percent. The information asymmetry between migrants and their most closely connected household is randomly varied, but no significant change is found in the remittance response to these forms of commitment as information varies. Behavior in these games is shown to be predictive of take-up of a new financial product called EduPay, designed to allow migrants to pay remittances directly to schools in the Philippines. This take-up seems largely driven by a response to the ability to label remittances for education, rather than to the hard commitment feature of directly paying schools
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  • 67
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: Online-Ressource (38 p)
    Ausgabe: 2014 World Bank eLibrary
    Paralleltitel: Bertho, Fabien The Trade-Reducing Effects of Restrictions on Liner Shipping
    Kurzfassung: This paper examines how policy governing the liner shipping sector affects maritime transport costs and seaborne trade flows. The paper uses a novel data set and finds that restrictions, particularly on foreign investment, increase maritime transport costs, strongly but unevenly. The cost-inflating effect ranges from 24 to 50 percent and trade on some routes may be inhibited altogether. Distance increases maritime transport costs, but also attenuates the cost impact of policy barriers. Overall, policy restrictions may lower trade flows on specific routes by up to 46 percent and therefore deserve greater attention in national reform programs and international trade negotiations
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  • 68
    Sprache: Englisch
    Seiten: Online-Ressource (44 p)
    Ausgabe: 2014 World Bank eLibrary
    Paralleltitel: de Mel, Suresh Radio Frequency (Un)Identification
    Schlagwort(e): Kleinstunternehmen ; Befragung ; Gewinn ; Absatz ; RFID
    Kurzfassung: Accurate measurement of stock levels, turnover, and profitability in microenterprises in developing countries is difficult because the majority of these firms do not keep detailed records. This paper tests the use of radio frequency identification tags as a means of objectively measuring stock levels and stock flow in small retail firms in Sri Lanka. In principle, the tags offer the potential to track stock movements accurately. The paper compares the stock counts obtained from RFID reads to physical stock counts and to survey responses. There are three main findings. First, current RFID-technology is more difficult to use, and more time-consuming to employ, than had been envisaged. Second, the technology works reasonably well for paper products, but very poorly for most products sold by microenterprises: on average only about one-quarter of the products tagged could be read and there was considerable day-to-day variation in read-efficiency. Third, a comparison of survey responses and physical stock-takes shows much higher accuracy for survey measures. As a result, the study concludes that this technology is currently unsuitable for improving stock measurement in microenterprises, except perhaps for a few products
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  • 69
    Sprache: Englisch
    Seiten: 1 Online-Ressource (46 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Constantinescu, Cristina The Global Trade Slowdown: Cyclical or Structural?
    Kurzfassung: This paper focuses on the sluggish growth of world trade relative to income growth in recent years. The analysis uses an empirical strategy based on an error correction model to assess whether the global trade slowdown is structural or cyclical
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  • 70
    Sprache: Englisch
    Seiten: Online-Ressource (64 p)
    Ausgabe: 2014 World Bank eLibrary
    Paralleltitel: Ayyagari, Meghana Does Local Financial Development Matter for Firm Lifecycle in India?
    Kurzfassung: The differences in financial development across Indian states, while seeming substantial, have a minor effect on firm lifecycle and growth. These results hold controlling for differences in labor regulations across states, capital intensity, and for firms born before and after the major reforms. There is no evidence that firms in financially dependent industries have different lifecycle profiles or grow faster in financially developed states than underdeveloped states. Overall, firms in the formal manufacturing sector grow as they age whereas in the informal sector, firms have a declining lifecycle, but in both cases little evidence is found that financial institutions matter for firm lifecycle. The findings of this paper suggest that size and depth differences in financial development across Indian states are likely dwarfed by overall inefficiencies that characterize state-dominated financial systems, with important implications for the reforms of the Indian financial system going forward
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  • 71
    Sprache: Englisch
    Seiten: Online-Ressource (53 p)
    Ausgabe: 2014 World Bank eLibrary
    Paralleltitel: Anginer, Deniz Corporate Governance and Bank Insolvency Risk
    Kurzfassung: This paper finds that shareholder-friendly corporate governance is positively associated with bank insolvency risk, as proxied by the Z-score and the Merton's distance to default measure, for an international sample of banks over the 2004-08 period. Banks are special in that "good" corporate governance increases bank insolvency risk relatively more for banks that are large and located in countries with sound public finances, as banks aim to exploit the financial safety net. Good corporate governance is specifically associated with higher asset volatility, more nonperforming loans, and a lower tangible capital ratio. Furthermore, good corporate governance is associated with more bank risk-taking at times of rapid economic expansion. Consistent with increased risk-taking, good corporate governance is associated with a higher valuation of the implicit insurance provided by the financial safety net, especially in the case of large banks. These results underline the importance of the financial safety net and too-big-to-fail policies in encouraging excessive risk-taking by banks
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  • 72
    Sprache: Englisch
    Seiten: Online-Ressource (43 p)
    Ausgabe: 2014 World Bank eLibrary
    Paralleltitel: Groh, Matthew Testing the Importance of Search Frictions, Matching, and Reservation Prestige through Randomized Experiments in Jordan
    Kurzfassung: Unemployment rates for tertiary-educated youth in Jordan are high, as is the duration of unemployment. Two randomized experiments in Jordan were used to test different theories that may explain this phenomenon. The first experiment tested the role of search and matching frictions by providing firms and job candidates with an intensive screening and matching service based on educational backgrounds and psychometric assessments. Although more than 1,000 matches were made, youth rejected the opportunity to even have an interview in 28 percent of cases, and when a job offer was received, they rejected this offer or quickly quit the job 83 percent of the time. A second experiment built on the first by examining the willingness of educated, unemployed youth to apply for jobs of varying levels of prestige. Youth applied to only a small proportion of the job openings they were told about, with application rates higher for higher prestige jobs than lower prestige jobs. Youth failed to show up for the majority of interviews scheduled for low prestige jobs. The results suggest that reservation prestige is an important factor underlying the unemployment of educated Jordanian youth
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  • 73
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: Online-Ressource (38 p)
    Ausgabe: 2014 World Bank eLibrary
    Paralleltitel: Groh, Matthew Macroinsurance for Microenterprises
    Kurzfassung: Firms in many developing countries cite macroeconomic instability and political uncertainty as major constraints to their growth. Economic theory suggests uncertainty can cause firms to delay investments until uncertainty is resolved. A randomized experiment was conducted in post-revolution Egypt to measure the impact of insuring microenterprises against macroeconomic and political uncertainty. Demand for macroeconomic shock insurance was high; 36.7 percent of microentrepreneurs in the treatment group purchased insurance. However, purchasing insurance does not change the likelihood that a business takes a new loan, the size of the loan, or how the loan is invested. This lack of effect is attributed to microenterprises largely investing in inventories and raw materials rather than irreversible investments like equipment. These results suggest that, contrary to what some firms profess, macroeconomic and political risk is not inhibiting the investment behavior of microenterprises. However, insurance may still be of value to help firms cope with shocks when they do occur, but the paper is unable to examine this dimension, because the insurance product did not pay out over the course of the pilot
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  • 74
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: Online-Ressource (52 p)
    Ausgabe: 2014 World Bank eLibrary
    Paralleltitel: McKenzie, David Evidence on Policies to Increase the Development Impacts of International Migration
    Kurzfassung: International migration offers individuals and their families the potential to experience immediate and large gains in their incomes, and offers a large number of other positive benefits to the sending communities and countries. However, there are also concerns about potential costs of migration, including concerns about trafficking and human rights, a desire for remittances to be used more effectively, and concerns about externalities from skilled workers being lost. As a result there is increasing interest in policies which can enhance the development benefits of international migration and mitigate these potential costs. This paper provides a critical review of recent research on the effectiveness of these policies at three stages of the migration process: pre-departure, during migration, and directed toward possible return. The existing evidence base suggests some areas of policy success: bilateral migration agreements for countries whose workers have few other migration options, developing new savings and remittance products that allow migrants more control over how their money is used, and some efforts to provide financial education to migrants and their families. Suggestive evidence together with theory offers support for a number of other policies, such as lowering the cost of remittances, reducing passport costs, offering dual citizenship, and removing exit barriers to migration. Research offers reasons to be cautious about some policies, such as enforcing strong rights for migrants like high minimum wages. Nevertheless, the paper finds the evidence base to be weak for many policies, with no reliable research on the impact of most return migration programs, nor for whether countries should be trying to induce communal remitting through matching funds
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  • 75
    Sprache: Englisch
    Seiten: Online-Ressource (45 p)
    Ausgabe: 2014 World Bank eLibrary
    Paralleltitel: Hirshleifer, Sarojini The Impact of Vocational Training for the Unemployed
    Schlagwort(e): Arbeitsmarktpolitik ; Berufsbildung ; Erwerbstätigkeit ; Wirkungsanalyse ; Türkei
    Kurzfassung: A randomized experiment is used to evaluate a large-scale, active labor market policy: Turkey's vocational training programs for the unemployed. A detailed follow-up survey of a large sample with low attrition enables precise estimation of treatment impacts and their heterogeneity. The average impact of training on employment is positive, but close to zero and statistically insignificant, which is much lower than either program officials or applicants expected. Over the first year after training, the paper finds that training had statistically significant effects on the quality of employment and that the positive impacts are stronger when training is offered by private providers. However, longer-term administrative data show that after three years these effects have also dissipated
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  • 76
    Sprache: Englisch
    Seiten: Online-Ressource (48 p)
    Ausgabe: 2014 World Bank eLibrary
    Paralleltitel: Barattieri, Alessandro Cross-Border Mergers and Acquisitions in Services
    Kurzfassung: This paper presents evidence on the determinants of cross-border mergers and acquisitions in services sectors. It develops a stylized model of mergers and acquisitions that predicts that the incidence of merger and acquisition deals depends, inter alia, on the target economy's size, industrial structure and investment policies, as well as on bilateral transactions costs. These predictions are examined with bilateral merger and acquisition flow data and detailed information on policy barriers from a new database of restrictions on services investment. The analysis finds that: (1) geographical factors affect mergers and acquisitions in services and manufacturing similarly but cultural factors affect mergers and acquisitions in services more than in manufacturing. (2) Controlling for these bilateral factors, restrictive investment policies reduce the probability of merger and acquisition inflows but this negative effect is mitigated in countries with relatively large shares of manufacturing and (to a lesser extent) services in gross domestic product. The same results hold for the number of merger and acquisition deals received. These findings suggest that the impact of policy is state-dependent and related to the composition of gross domestic product in the target economy
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  • 77
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: Online-Ressource (19 p)
    Ausgabe: 2013 World Bank eLibrary
    Paralleltitel: McKenzie, David Eliciting Illegal Migration Rates through List Randomization
    Kurzfassung: Most migration surveys do not ask about the legal status of migrants due to concerns about the sensitivity of this question. List randomization is a technique that has been used in a number of other social science applications to elicit sensitive information. This paper trials this technique by adding it to surveys conducted in Ethiopia, Mexico, Morocco, and the Philippines. It shows how, in principal, this can be used both to give an estimate of the overall rate of illegal migration in the population being surveyed, as well as to determine illegal migration rates for subgroups such as more or less educated households. The results suggest that there is some useful information in this method: higher rates of illegal migration in countries where illegal migration is thought to be more prevalent and households who say they have a migrant are more likely to report having an illegal migrant. Nevertheless, some of the other findings also suggest some possible inconsistencies or noise in the conclusions obtained using this method. The authors suggest directions for future attempts to implement this approach in migration surveys
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  • 78
    Sprache: Englisch
    Seiten: Online-Ressource (46 p)
    Ausgabe: 2013 World Bank eLibrary
    Paralleltitel: Bruhn, Miriam Why is Voluntary Financial Education so Unpopular?
    Kurzfassung: Take-up of voluntary financial education programs is typically extremely low. This paper reports on randomized experiments around a large financial literacy course offered in Mexico City to understand the reasons for low take-up, and to measure the impact of financial education. It documents that the general public displays little interest in such courses and that participation is low even among individuals who express interest in financial education. The paper experimentally investigates barriers to take-up, and finds no impact of relaxing reputational or logistical constraints and no evidence that time inconsistency is the reason for limited participation. Even relatively sizeable monetary incentives get less than 40 percent of interested individuals invited to training to attend. Using a randomized encouragement design, the authors measure the impact of the course on financial knowledge and behavior. Attending training results in a 9 percentage point increase in financial knowledge and a 9 percentage point increase in saving outcomes, but no impact on borrowing behavior. Administrative data indicate that the savings impact is relatively short-lived. The results suggest people are making optimal choices not to attend financial education courses, and point to the limits of using general purpose courses to improve financial behavior for the general population
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  • 79
    Sprache: Englisch
    Seiten: Online-Ressource (77 p)
    Ausgabe: 2013 World Bank eLibrary
    Paralleltitel: Ayyagari, Meghana Size and Age of Establishments
    Kurzfassung: Survey data from 120 developing countries are used to examine the relation between establishment size and age in the formal sector. Existing research suggests that manufacturing establishments in developing countries do not grow over time, most likely because of market imperfections and regulations. To the contrary, this paper finds that the average plant in developing countries that is more than 40 years old employs almost five times as many workers as the average plant that is five years old or younger. The analysis finds consistent evidence when it looks within a large country, India, based on detailed manufacturing census data over 23 years. It also finds that differences in financial development across Indian states, while substantial, have a minor effect on firm growth, consistent with inefficiency of state-owned financial systems. These results hold controlling for differences in labor regulations across states, capital intensity, labor regulations, and firms born before and after the major reforms
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  • 80
    Sprache: Englisch
    Seiten: Online-Ressource (52 p)
    Ausgabe: 2013 World Bank eLibrary
    Paralleltitel: Beam, Emily Unilateral Facilitation Does Not Raise International Labor Migration from the Philippines
    Schlagwort(e): 2010-2012 ; Arbeitsmigranten ; Migrationspolitik ; Arbeitsvermittlung ; Wirkungsanalyse ; Schätzung ; Philippinen
    Kurzfassung: Significant income gains from migrating from poorer to richer countries have motivated unilateral (source-country) policies facilitating labor emigration. However, their effectiveness is unknown. The authors conducted a large-scale randomized experiment in the Philippines testing the impact of unilaterally facilitating international labor migration. The most intensive treatment doubled the rate of job offers but had no identifiable effect on international labor migration. Even the highest overseas job-search rate that was induced (22 percent) falls far short of the share initially expressing interest in migrating (34 percent). The paper concludes that unilateral migration facilitation will at most induce a trickle, not a flood, of additional emigration
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  • 81
    Sprache: Englisch
    Seiten: Online-Ressource (48 p)
    Ausgabe: 2013 World Bank eLibrary
    Paralleltitel: Iacovone, Leonardo Trade and Innovation in Services
    Kurzfassung: Studies on innovation and international trade have traditionally focused on manufacturing because neither was seen as important for services. Moreover, the few existing studies on services focus only on industrial countries, although in many developing countries services are already the largest sector in the economy and an important determinant of overall productivity growth. Using a recent firm-level innovation survey for Chile to compare the manufacturing and "tradable" services sector, this paper reveals some novel patterns. First, although services firms have on average a much lower propensity to export than manufacturing firms, services exports are less dominated by large firms and tend to be more skill intensive than manufacturing exports. Second, services firms appear to be as innovative as-and in some cases more innovative than-manufacturing firms, in terms of both inputs and outputs of "technological" innovative activity, although services innovations more often take a "non-technological" form. Third, services exporters (like manufacturing exporters) tend to be significantly more innovative than non-exporters, with a wider gap for innovations close to the global technological frontier. These findings suggest that the growing faith in services as a source of both trade and innovative dynamism may not be misplaced
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  • 82
    Sprache: Englisch
    Seiten: Online-Ressource (49 p)
    Ausgabe: 2013 World Bank eLibrary
    Paralleltitel: Anginer, Deniz How Does Corporate Governance Affect Bank Capitalization Strategies?
    Kurzfassung: This paper examines how corporate governance and executive compensation affected bank capitalization strategies for an international sample of banks in 2003-2011. "Good" corporate governance, which favors shareholder interests, is found to give rise to lower bank capitalization. Boards of intermediate size, separation of the chief executive officer and chairman roles, and an absence of anti-takeover provisions, in particular, lead to low bank capitalization. However, executive options and stock wealth invested in the bank are associated with better capitalization except just before the crisis in 2006. In that year, stock options wealth was associated with lower capitalization, which suggests that potential gains from taking on more bank risk outweighed the prospect of additional loss. Banks' tendencies to continue payouts to shareholders after experiencing negative income shocks are shown to reflect executive risk-taking incentives
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  • 83
    Sprache: Englisch
    Seiten: Online-Ressource (45 p)
    Ausgabe: 2013 World Bank eLibrary
    Paralleltitel: Demirguc-Kunt, Asli Islamic Finance and Financial Inclusion
    Kurzfassung: In recent years, the Islamic finance industry has attracted the attention of policy makers and international donors as a possible channel through which to expand financial inclusion, particularly among Muslim adults. Yet cross-country, demand-side data on actual usage and preference gaps in financial services between Muslims and non-Muslims have been scarce. This paper uses novel data to explore the use of and demand for formal financial services among self-identified Muslim adults. In a sample of more than 65,000 adults from 64 economies (excluding countries where less than 1 percent or more than 99 percent of the sample self-identified as Muslim), the analysis finds that Muslims are significantly less likely than non-Muslims to own a formal account or save at a formal financial institution after controlling for other individual- and country-level characteristics. But the analysis finds no evidence that Muslims are less likely than non-Muslims to report formal or informal borrowing. Finally, in an extended survey of adults in five North African and Middle Eastern countries with relatively nascent Islamic finance industries, the study finds little use of Sharia-compliant banking products, although it does find evidence of a hypothetical preference for Sharia-compliant products among a plurality of respondents despite higher costs
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  • 84
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: Online-Ressource (52 p)
    Ausgabe: 2013 World Bank eLibrary
    Paralleltitel: Mattoo, Aaditya A "Greenprint" for International Cooperation on Climate Change
    Kurzfassung: International negotiations on climate change have been dogged by mutual recriminations between rich and poor countries, constricted by the zero-sum arithmetic of a shrinking global carbon budget, and overtaken by shifts in economic power between industrialized and developing countries. To overcome these "narrative," "adding-up," and "new world" problems, respectively, this paper proposes a new Greenprint for cooperation. First, the large dynamic emerging economies-China, India, Brazil, and Indonesia-must assume the mantle of leadership, offering contributions of their own and prodding the reluctant industrial countries into action. This role reversal would be consistent with the greater stakes for the dynamic emerging economies. Second, the emphasis must be on technology generation. This would allow greater consumption and production possibilities for all countries while respecting the global emissions budget that is dictated by the climate change goal of keeping average temperature rise below 2 degrees centigrade. Third, instead of the old cash-for-cuts approach-which relies on the industrial countries offering cash (which they do not have) to the dynamic emerging economies for cuts (that they are unwilling to make)-all major emitters must make contributions. With a view to galvanizing a technology revolution, industrial countries would take early action to raise carbon prices. The dynamic emerging economies would in turn eliminate fossil fuel subsidies, commit to matching carbon price increases in the future, allow limited border taxes against their own exports, and strengthen protection of intellectual property for green technologies. This would directly and indirectly facilitate such a technological revolution
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  • 85
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: Online-Ressource (24 p)
    Ausgabe: 2013 World Bank eLibrary
    Paralleltitel: Mattoo, Aaditya Criss-Crossing Migration
    Kurzfassung: The current perspective on the flow of people is almost exclusively focused on permanent migration from poorer to richer countries and on immigration policies in industrial countries. But international mobility of people should no longer be seen as a one-time event or one-way flow from South to North. The economic crisis has accentuated the longer-term shift in location incentives for people in industrial countries. As consumers, they could obtain better and cheaper access to key services-such as care for the elderly, health, and education-whose costs at home are projected to increase in the future, threatening standards of living. As workers, they could benefit from new opportunities created by the shift in economic dynamism from industrial to emerging countries. But subtle incentives to stay at home, such as lack of portability of health insurance and non-recognition of qualifications obtained abroad, inhibit North-South mobility and need to be addressed. Furthermore, if beneficiaries of movement abroad exert countervailing power against those who support immigration barriers at home, then that could lead to greater inflows of people, boosting innovation and growth in the North. Eventually, growing two-way flows of people could create the possibility of a grand bargain to reduce impediments to the movement of people at every stage in all countries and help realize the full benefits of globalization
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  • 86
    Sprache: Englisch
    Seiten: Online-Ressource (27 p)
    Ausgabe: 2013 World Bank eLibrary
    Paralleltitel: Bruhn, Miriam Using Administrative Data to Evaluate Municipal Reforms
    Kurzfassung: Efforts to make it easier for firms to register formally are the most common form of business regulatory reform over the past decade. While there is evidence that large reforms have resulted in some increases in registration rates, recent experimental evidence suggests very few informal firms choose to register when given information about how to do so. This raises the question of whether it is productive for governments to continue to extend simplification efforts to all firms, especially those in more remote areas where many of the benefits of registering may be reduced. This study uses administrative data to evaluate the impact of Minas Fácil Expresso, a program in the state of Minas Gerais, Brazil, which attempted to expand a business start-up simplification program to more remote municipalities. Using difference-in-differences with 56 months of registration data for 822 municipalities, the analysis finds introducing these units actually led to a reduction in registration rates, and no change in tax revenues. The paper uses this evaluation to illustrate the design choices and issues involved in using administrative data to evaluate reforms, with the goal of also providing a template that can be used for evaluating similar reforms elsewhere
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  • 87
    Sprache: Englisch
    Seiten: Online-Ressource (47 p)
    Ausgabe: 2013 World Bank eLibrary
    Paralleltitel: Demirguc-Kunt, Asli Financial Inclusion and Legal Discrimination against Women
    Kurzfassung: This paper documents and analyzes gender differences in the use of financial services using individual-level data from 98 developing countries. The data, drawn from the Global Financial Inclusion (Global Findex) database, highlight the existence of significant gender gaps in ownership of accounts and usage of savings and credit products. Even after controlling for a host of individual characteristics including income, education, employment status, rural residency and age, gender remains significantly related to usage of financial services. This study also finds that legal discrimination against women and gender norms may explain some of the cross-country variation in access to finance for women. The analysis finds that in countries where women face legal restrictions in their ability to work, head a household, choose where to live, and receive inheritance, women are less likely to own an account, relative to men, as well as to save and borrow. The results also confirm that manifestations of gender norms, such as the level of violence against women and the incidence of early marriage for women, contribute to explaining the variation in the use of financial services between men and women, after controlling for other individual and country characteristics
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  • 88
    Sprache: Englisch
    Seiten: Online-Ressource (43 p)
    Ausgabe: 2013 World Bank eLibrary
    Paralleltitel: De Andrade, Gustavo Henrique A Helping Hand or the Long Arm of the Law?
    Kurzfassung: Many governments have spent much of the past decade trying to extend a helping hand to informal businesses by making it easier and cheaper for them to formalize. Much less effort has been devoted to raising the costs of remaining informal, through increasing enforcement of existing regulations. This paper reports on a field experiment conducted in Belo Horizonte, Brazil, in order to test which government actions work in getting informal firms to register. Firms were randomized to a control group or one of four treatment groups: the first received information about how to formalize; the second received this information and free registration costs along with the use of an accountant for a year; the third group was assigned to receive an enforcement visit from a municipal inspector; while the fourth group was assigned to have a neighboring firm receive an enforcement visit to see if enforcement has spillovers. The analysis finds zero or negative impacts of information and free cost treatments, and a significant but small increase in formalization from inspections. Estimates of the impact of actually receiving an inspection give a 21 to 27 percentage point increase in the likelihood of formalizing. The results show most informal firms will not formalize unless forced to do so, suggesting formality offers little private benefit to them. But the tax revenue benefits to the government of bringing firms of this size into the formal system more than offset the costs of inspections
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  • 89
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: Online-Ressource (18 p)
    Ausgabe: 2013 World Bank eLibrary
    Paralleltitel: Bruhn, Miriam Entry Regulation and Formalization of Microenterprises in Developing Countries
    Kurzfassung: The majority of microenterprises in most developing countries remain informal despite more than a decade of reforms aimed at making it easier and cheaper for them to formalize. This paper summarizes the evidence on the effects of entry reforms and related policy actions to promote firm formalization. Most of these policies result only in a modest increase in the number of formal firms, if at all. Less is known about the impact of other forms of business regulations on the performance of low-scale enterprises. Most informal firms appear not to benefit on net from formalizing, so ease of formalization alone will not lead to most of them formalizing. Increased enforcement of rules can increase formality. Although there is a fiscal benefit of doing this with larger informal firms, it is unclear whether there is a public rationale for trying to formalize subsistence enterprises
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  • 90
    Sprache: Englisch
    Seiten: Online-Ressource (41 p)
    Ausgabe: 2012 World Bank eLibrary
    Paralleltitel: Borchert, Ingo Landlocked or Policy Locked?
    Kurzfassung: A new cross-country database on services policy reveals a perverse pattern: many landlocked countries restrict trade in the very services that connect them with the rest of the world. On average, telecommunications and air-transport policies are significantly more restrictive in landlocked countries than elsewhere. The phenomenon is most starkly visible in Sub-Saharan Africa and is associated with lower levels of political accountability. This paper finds evidence that these policies lead to more concentrated market structures and more limited access to services than these countries would otherwise have, even after taking into account the influence of geography and incomes, and the possibility that policy is endogenous. Even moderate liberalization in these sectors could lead to an increase of cellular subscriptions by 7 percentage points and a 20-percent increase in the number of flights. Policies in other countries, industrial and developing alike, also limit competition in international transport services. Hence, "trade-facilitating" investments under various "aid-for-trade" initiatives are likely to earn a low return unless they are accompanied by meaningful reform in these services sectors
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  • 91
    Sprache: Englisch
    Seiten: Online-Ressource (37 p)
    Ausgabe: 2012 World Bank eLibrary
    Paralleltitel: McKenzie, David What are we Learning from Business Training and Entrepreneurship Evaluations around the Developing World?
    Kurzfassung: Business training programs are a popular policy option to try to improve the performance of enterprises around the world. The last few years have seen rapid growth in the number of evaluations of these programs in developing countries. This paper undertakes a critical review of these studies with the goal of synthesizing the emerging lessons and understanding the limitations of the existing research and the areas in which more work is needed. It finds that there is substantial heterogeneity in the length, content, and types of firms participating in the training programs evaluated. Many evaluations suffer from low statistical power, measure impacts only within a year of training, and experience problems with survey attrition and measurement of firm profits and revenues. Over these short time horizons, there are relatively modest impacts of training on survivorship of existing firms, but stronger evidence that training programs help prospective owners launch new businesses more quickly. Most studies find that existing firm owners implement some of the practices taught in training, but the magnitudes of these improvements in practices are often relatively modest. Few studies find significant impacts on profits or sales, although a couple of the studies with more statistical power have done so. Some studies have also found benefits to microfinance organizations of offering training. To date there is little evidence to help guide policymakers as to whether any impacts found come from trained firms competing away sales from other businesses versus through productivity improvements, and little evidence to guide the development of the provision of training at market prices. The paper concludes by summarizing some directions and key questions for future studies
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  • 92
    Sprache: Englisch
    Seiten: Online-Ressource (43 p)
    Ausgabe: 2012 World Bank eLibrary
    Paralleltitel: Mattoo, Aaditya Spillover Effects of Exchange Rates
    Kurzfassung: This paper estimates how changes in China's exchange rates would affect exports from competitor countries in third-country markets-in other words, the "spillover effect." The authors use recent theory to develop an identification strategy, with a key role for the competition between China and its developing country competitors in specific products and export destinations. Using disaggregated trade data, they estimate the spillover effect by exploiting the variation across different exporters, importers, products, and time periods. They find a spillover effect that is statistically and quantitatively significant. Their estimates suggest that a 10-percent appreciation of China's real exchange rate boosts a developing country's exports of a typical four-digit Harmonized System product category to third markets by about 1.5 to 2 percent on average. The magnitude of the spillover effect varies systematically with the characteristics of products, such as the extent to which they are differentiated
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  • 93
    Sprache: Englisch
    Seiten: Online-Ressource (37 p)
    Ausgabe: 2012 World Bank eLibrary
    Paralleltitel: De Mel, Suresh The Demand for, and Consequences of, Formalization among Informal Firms in Sri Lanka
    Kurzfassung: The majority of firms in most developing countries are informal. The authors of this paper conducted a field experiment in Sri Lanka that provided incentives for informal firms to formalize. Offering only information about the registration process and reimbursement for direct registration costs had no impact on formalization. Adding payments equivalent to one-half to one month's profits for the median firm led to registration of around one-fifth of firms. A larger payment equivalent to two months' median profits induced half the firms to register. The main reasons for not formalizing when offered incentives included issues related to ownership of land and concerns about facing labor taxes in the future. The degree of bureaucracy in the registration process also seems to matter for those with the incentive to register, with response to the incentives higher in Colombo, where the registration process was easier, than in Kandy. Three follow-up surveys, at 15 to 31 months after the intervention, measure the impact of formalizing on these firms. Although mean profits increased, this appears largely due to the experiences of a few firms that grew rapidly, with most firms experiencing no increase in income as a result of formalizing. The authors also find little evidence for most of the channels through which formalization is hypothesized to benefit firms, although formalized firms do advertise more and are more likely to use receipt books. In qualitative interviews owners of formalized firms also feel their businesses have more legitimacy. Finally, formalizing is found to result in a large increase in trust in the state. Their focus is largely on the private costs and benefits of existing firms formalizing. Within their sample they cannot measure broader impacts of formalization on other firms (who may prosper from not having to compete against informal firms not paying taxes), nor impacts of easier formalization on entry of new firms. Nevertheless, our results suggest that although most informal firms do not want to formalize, given the current private costs and benefits of formalizing, policy efforts that lead to relatively modest increases in the net benefits of formalizing would induce a sizeable share of informal firms to formalize
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 94
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: Online-Ressource (31 p)
    Ausgabe: 2012 World Bank eLibrary
    Paralleltitel: John Gibson The Impact of Financial Literacy Training for Migrants
    Kurzfassung: Remittances are a major source of external finance for many developing countries but the cost of sending remittances remains high for many migration corridors. International efforts to lower costs by facilitating the entry of new financial products and new cost comparison information sources rely heavily on the financial literacy of migrants. This paper presents the results of a randomized experiment designed to measure the impact of providing financial literacy training to migrants. Training appears to increase financial knowledge and information seeking behavior and reduce the risk of switching to costlier remittance products. But it does not change either the frequency or level of remittances
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  • 95
    Sprache: Englisch
    Seiten: Online-Ressource (43 p)
    Ausgabe: 2012 World Bank eLibrary
    Paralleltitel: Aaditya Mattoo Performance of Skilled Migrants in the U.S
    Kurzfassung: The initial occupational placements of male immigrants in the United States labor market vary significantly by country of origin even when education and other individual factors are taken into account. Does the heterogeneity persist over time? Using data from the 1980, 1990, and 2000 Censuses, this paper finds that the performance of migrants from countries with lower initial occupational placement levels improves at a higher rate compared with that of migrants originating from countries with higher initial performance levels. Nevertheless, the magnitude of convergence suggests that full catch-up is unlikely. The impact of country specific attributes on the immigrants' occupational placement occurs mainly through their effect on initial performance and they lose significance when initial occupational levels are controlled for in the estimation
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  • 96
    Sprache: Englisch
    Seiten: Online-Ressource (29 p)
    Ausgabe: 2012 World Bank eLibrary
    Paralleltitel: Anginer, Deniz How Does Deposit Insurance Affect Bank Risk?
    Kurzfassung: Deposit insurance is widely offered in a number of countries as part of a financial system safety net to promote stability. An unintended consequence of deposit insurance is the reduction in the incentive of depositors to monitor banks, which leads to excessive risk-taking. This paper examines the relation between deposit insurance and bank risk and systemic fragility in the years leading to and during the recent financial crisis. It finds that generous financial safety nets increase bank risk and systemic fragility in the years leading up to the global financial crisis. However, during the crisis, bank risk is lower and systemic stability is greater in countries with deposit insurance coverage. The findings suggest that the "moral hazard effect" of deposit insurance dominates in good times while the "stabilization effect" of deposit insurance dominates in turbulent times. Nevertheless, the overall effect of deposit insurance over the full sample remains negative since the destabilizing effect during normal times is greater in magnitude compared with the stabilizing effect during global turbulence. In addition, the analysis finds that good bank supervision can alleviate the unintended consequences of deposit insurance on bank systemic risk during good times, suggesting that fostering the appropriate incentive framework is very important for ensuring systemic stability
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  • 97
    Sprache: Englisch
    Seiten: Online-Ressource (45 p)
    Ausgabe: 2012 World Bank eLibrary
    Paralleltitel: Cadot, Olivier Are the Benefits of Export Support Durable?
    Kurzfassung: This paper evaluates the effects of the FAMEX export promotion program in Tunisia on the performance of beneficiary firms. While much of the literature assesses only the short-term impact of such programs, the paper considers also the longer-term impact. Propensity-score matching, difference-in-difference, and weighted least squares estimates suggest that beneficiaries initially see faster export growth and greater diversification across destination markets and products. However, three years after the intervention, the growth rates and the export levels of beneficiaries are not significantly different from those of non-beneficiary firms. Exports of beneficiaries do remain more diversified, but the diversification does not translate into lower volatility of exports. The authors also did not find evidence that the program produced spillover benefits for non-beneficiary firms. However, the results on the longer-term impact of export promotion must be interpreted cautiously because the later years of the sample period saw a collapse in world trade, which may not have affected all firms equally
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  • 98
    Sprache: Englisch
    Seiten: Online-Ressource (36 p)
    Ausgabe: 2012 World Bank eLibrary
    Paralleltitel: Campos, Francisco Learning from the Experiments That Never Happened
    Kurzfassung: Matching grants are one of the most common policy instruments used by developing country governments to try to foster technological upgrading, innovation, exports, use of business development services and other activities leading to firm growth. However, since they involve subsidizing firms, the risk is that they could crowd out private investment, subsidizing activities that firms were planning to undertake anyway, or lead to pure private gains, rather than generating the public gains that justify government intervention. As a result, rigorous evaluation of the effects of such programs is important. The authors attempted to implement randomized experiments to evaluate the impact of seven matching grant programs offered in six African countries, but in each case were unable to complete an experimental evaluation. One critique of randomized experiments is publication bias, whereby only those experiments with "interesting" results get published. The hope is to mitigate this bias by learning from the experiments that never happened. This paper describes the three main proximate reasons for lack of implementation: continued project delays, politicians not willing to allow random assignment, and low program take-up; and then delves into the underlying causes of these occurring. Political economy, overly stringent eligibility criteria that do not take account of where value-added may be highest, a lack of attention to detail in "last mile" issues, incentives facing project implementation staff, and the way impact evaluations are funded, and all help explain the failure of randomization. Lessons are drawn from these experiences for both the implementation and the possible evaluation of future projects
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  • 99
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: Online-Ressource (53 p)
    Ausgabe: 2012 World Bank eLibrary
    Paralleltitel: Anginer, Deniz How Does Bank Competition Affect Systemic Stability?
    Kurzfassung: Using bank level measures of competition and co-dependence, the authors show a robust positive relationship between bank competition and systemic stability. Whereas much of the extant literature has focused on the relationship between competition and the absolute level of risk of individual banks, they examine the correlation in the risk taking behavior of banks, hence systemic risk. They find that greater competition encourages banks to take on more diversified risks, making the banking system less fragile to shocks. Examining the impact of the institutional and regulatory environment on systemic stability shows that banking systems are more fragile in countries with weak supervision and private monitoring, with generous deposit insurance and greater government ownership of banks, and public policies that restrict competition. Furthermore, lack of competition has a greater adverse effect on systemic stability in countries with low levels of foreign ownership, weak investor protections, generous safety nets, and where the authorities provide limited guidance for bank asset diversification
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  • 100
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: Online-Ressource (61 p)
    Ausgabe: 2012 World Bank eLibrary
    Paralleltitel: Asli Demirguc-Kunt Measuring Financial Inclusion
    Kurzfassung: This paper provides the first analysis of the Global Financial Inclusion (Global Findex) Database, a new set of indicators that measure how adults in 148 economies save, borrow, make payments, and manage risk. The data show that 50 percent of adults worldwide have an account at a formal financial institution, though account penetration varies widely across regions, income groups and individual characteristics. In addition, 22 percent of adults report having saved at a formal financial institution in the past 12 months, and 9 percent report having taken out a new loan from a bank, credit union or microfinance institution in the past year. Although half of adults around the world remain unbanked, at least 35 percent of them report barriers to account use that might be addressed by public policy. Among the most commonly reported barriers are high cost, physical distance, and lack of proper documentation, though there are significant differences across regions and individual characteristics
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