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  • 1995-1999  (485)
  • Milton : Taylor & Francis Group
  • Oxford : Oxford University Press
  • Washington, D.C : The World Bank
Language
Years
Year
  • 1
    Online Resource
    Online Resource
    Oxford : Oxford University Press | Pittsburgh, Pa. : Carnegie Mellon Univ. Press ; 1.1967/68 -
    ISSN: 1527-1897 , 0022-4529 , 0022-4529
    Language: English
    Pages: Online-Ressource
    Dates of Publication: 1.1967/68 -
    Parallel Title: Druckausg. 1.1967/68 - 39.2005/06 Journal of social history
    Parallel Title: Druckausg. ab 40.2006/07 Journal of social history, societies & cultures
    DDC: 390
    Keywords: Sozialgeschichte ; Zeitschrift ; Online-Ressource ; Sozialgeschichte ; Zeitschrift ; Zeitschrift ; Online-Publikation ; Zeitschrift ; Zeitschrift ; Online-Publikation ; Zeitschrift ; Zeitschrift ; Zeitschrift ; Online-Ressource ; Zeitschrift ; Zeitschrift ; Sozialgeschichte ; Zeitschrift ; Online-Ressource ; Sozialgeschichte ; Zeitschrift ; Online-Publikation
    Note: Gesehen am 19.03.15
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 2
    Book
    Book
    Oxford : Oxford University Press
    Language: English
    Series Statement: Oxford books for BTEC national awards
    DDC: 302.35024658
    Keywords: Organization
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  • 3
    Online Resource
    Online Resource
    London : Arnold | [Erscheinungsort nicht ermittelbar] : Sage | Oxford : Oxford University Press ; 1.1984 -
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    ISSN: 1477-089X , 0266-3554 , 0266-3554
    Language: English
    Pages: Online-Ressource
    Dates of Publication: 1.1984 -
    Parallel Title: Erscheint auch als German history
    Keywords: Geschichte ; Geschichte ; Zeitschrift ; Online-Ressource ; Deutschland ; Zeitschrift ; Zeitschrift ; Online-Publikation
    Note: Gesehen am 01. Februar 2017
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  • 4
    Journal/Serial
    Journal/Serial
    Oxford : Oxford University Press | Milton Keynes : open University ; 1.1995 -
    Language: English
    Dates of Publication: 1.1995 -
    DDC: 910
    RVK:
    RVK:
    Keywords: Monografische Reihe
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  • 5
    Journal/Serial
    Journal/Serial
    Oxford : Oxford University Press | New York, NY [u.a.] : Macmillan | Washington DC [u.a.] : Assoc. | Chicago, Ill. : Univ. of Chicago Press ; 1.1895/96 -
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    ISSN: 0002-8762 , 1937-5239 , 1937-5239
    Language: English
    Dates of Publication: 1.1895/96 -
    Additional Information: Beil. American Historical Association Recently published articles
    Additional Information: Index 1895/1945=1944,1 von American Historical Association Annual report of the American Historical Association Washington, DC : Smithsonian Inst. Press, 1889 0065-8561
    Parallel Title: Erscheint auch als The American historical review
    DDC: 050
    RVK:
    Keywords: History Periodicals ; United States Periodicals History ; Zeitschrift ; Weltgeschichte ; Zeitschrift ; USA ; Geschichte ; Amerika ; Geschichte
    Note: Repr.: Nendeln : Kraus
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  • 6
    Journal/Serial
    Journal/Serial
    New York, NY [u.a.] : Macmillan | Washington DC [u.a.] : Assoc. | Chicago, Ill. : Univ. of Chicago Press | Oxford : Oxford University Press ; 1.1895/96 -
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    ISSN: 0002-8762 , 1937-5239 , 1937-5239
    Language: English
    Dates of Publication: 1.1895/96 -
    Additional Information: Beil. American Historical Association Recently published articles
    Additional Information: Index 1895/1945=1944,1 von American Historical Association Annual report of the American Historical Association
    Parallel Title: Online-Ausg. The American historical review
    RVK:
    Keywords: Geschichte ; Weltgeschichte ; Zeitschrift ; USA ; Zeitschrift
    Note: Repr.: Nendeln : Kraus
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  • 7
    Media Combination
    Media Combination
    Oxford : Oxford University Press
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    Language: English
    Pages: Medienkombination
    Series Statement: Oxford intensive English courses
    DDC: 428.24
    Keywords: English language
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  • 8
    Journal/Serial
    Journal/Serial
    Oxford : Oxford University Press | Zug : Inter Documentation Co. | London : Oxford University Press ; 1.1968 -
    Language: English
    Dates of Publication: 1.1968 -
    DDC: 910
    Keywords: Monografische Reihe
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  • 9
    Online Resource
    Online Resource
    Oxford : Oxford University Press ; 1.1994 -
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    ISSN: 1468-2893 , 1072-4745 , 1072-4745
    Language: English
    Pages: Online-Ressource
    Dates of Publication: 1.1994 -
    Parallel Title: Erscheint auch als Social politics
    Keywords: Sozialpolitik ; Zeitschrift ; Zeitschrift ; Online-Publikation
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  • 10
    Online Resource
    Online Resource
    London : Longmans, Green and Co. | Oxford : Oxford University Press ; 1.1886 -
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    ISSN: 1477-4534 , 0013-8266 , 0013-8266
    Language: English
    Pages: Online-Ressource
    Dates of Publication: 1.1886 -
    Parallel Title: Erscheint auch als The English historical review
    Former Title: The english historical review online
    Keywords: Geschichte ; Großbritannien ; Zeitschrift ; Zeitschrift ; Online-Publikation
    Note: Gesehen am 01.04.13
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  • 11
    Online Resource
    Online Resource
    Oxford : Oxford University Press ; 1.1988 -
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    ISSN: 1471-6925 , 0951-6328 , 0951-6328
    Language: English
    Pages: Online-Ressource
    Dates of Publication: 1.1988 -
    Parallel Title: Erscheint auch als Journal of refugee studies
    DDC: 300
    Keywords: Zeitschrift ; Flüchtling
    Note: Gesehen am 31.01.05
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  • 12
    Journal/Serial
    Journal/Serial
    Oxford : Oxford University Press | Oxford : Oxford Univ. Press | Guildford : Butterworth | Cambridge : Cambridge Univ. Press | Oxford : Blackwell | Oxford : Wiley-Blackwell ; 10.1931 -
    ISSN: 0020-5850 , 1468-2346 , 1468-2346
    Language: English
    Pages: 25 cm
    Dates of Publication: 10.1931 -
    Parallel Title: Erscheint auch als International affairs
    Former Title: Vorg. Royal Institute of International Affairs Journal of the Royal Institute of International Affairs
    Former Title: International affairs review supplement
    DDC: 320
    RVK:
    RVK:
    Keywords: Internationale Beziehungen ; Welt ; Zeitschrift ; Internationale Politik
    Note: Repr.: Folkestone : Dawson , Beteil. Körp. 10.1931 - 80.2004,4: Royal Institute of International Affairs, London , Ersch. zweimonatl., bis 78.2002 vierteljährl.; 79.2003 - 81.2005 5x jährl.
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  • 13
    Online Resource
    Online Resource
    Oxford : Oxford University Press | Bloomington, Ind. : OAH ; 51.1964/65 -
    ISSN: 1945-2314 , 0021-8723
    Language: English
    Pages: Online-Ressource
    Dates of Publication: 51.1964/65 -
    Parallel Title: Druckausg. The journal of American history
    Former Title: Vorg.: Mississippi Valley historical review
    DDC: 910
    Keywords: Geschichte ; Geschichte ; Zeitschrift ; Online-Ressource ; USA ; USA ; Zeitschrift ; Zeitschrift ; Zeitschrift ; Zeitschrift ; USA ; Geschichte ; Zeitschrift ; Online-Ressource ; USA ; Geschichte ; Zeitschrift
    Note: Gesehen am 19.02.2021
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  • 14
    Journal/Serial
    Journal/Serial
    Basingstoke : Taylor & Francis | London : Inst. | London : Routledge | Oxford : Oxford University Press ; Nr. 1.1961 - 402.2009
    ISSN: 0567-932X , 1478-5145 , 1478-5145
    Language: English
    Dates of Publication: Nr. 1.1961 - 402.2009
    Additional Information: 284-285=35 von International Institute for Strategic Studies Annual conference of the International Institute for Strategic Studies London [u.a.] : IISS, 1973
    Additional Information: 102u.103=15; 115=16; 122-123=17; 151u.152=20; 160-161=21; 166-167=22; 173-174=23; 182-184=24; 189-191=25; 197-199=26; 205-207=27; 216-218=28; 229-231=29; 235-237=30; 247-248=31 von International Institute for Strategic Studies Annual conference of the International Institute for Strategic Studies London [u.a.] : IISS, 1973
    Additional Information: 64=3 von Survey of strategic studies London, 1970
    Parallel Title: Erscheint auch als The Adelphi papers
    Former Title: Adelphi papers
    Subsequent Title: Forts. Adelphi
    DDC: 320
    Keywords: Monografische Reihe ; Militärpolitik ; Sicherheitspolitik
    Note: Einzelne Bände zugleich Bände von: International Institute for Strategic Studies: Annual conference of the International Institute for Strategic Studies , Urh. anfangs: Institute for Strategic Studies
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  • 15
    Journal/Serial
    Journal/Serial
    Basingstoke : Taylor & Francis | London : Inst. | London : Routledge | Oxford : Oxford University Press ; Nr. 1.1961 - 402.2009
    ISSN: 0567-932X , 1478-5145 , 1478-5145
    Language: English
    Dates of Publication: Nr. 1.1961 - 402.2009
    Additional Information: 284-285=35 von International Institute for Strategic Studies Annual conference of the International Institute for Strategic Studies London [u.a.] : IISS, 1973
    Additional Information: 102u.103=15; 115=16; 122-123=17; 151u.152=20; 160-161=21; 166-167=22; 173-174=23; 182-184=24; 189-191=25; 197-199=26; 205-207=27; 216-218=28; 229-231=29; 235-237=30; 247-248=31 von International Institute for Strategic Studies Annual conference of the International Institute for Strategic Studies London [u.a.] : IISS, 1973
    Additional Information: 64=3 von Survey of strategic studies London, 1970
    Parallel Title: Erscheint auch als The Adelphi papers
    Former Title: Adelphi papers
    Subsequent Title: Forts. Adelphi
    DDC: 320
    Keywords: Monografische Reihe ; Militärpolitik ; Sicherheitspolitik
    Note: Einzelne Bände zugleich Bände von: International Institute for Strategic Studies: Annual conference of the International Institute for Strategic Studies , Urh. anfangs: Institute for Strategic Studies
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  • 16
    ISBN: 9781317957447
    Language: English
    Pages: 1 online resource (336 pages)
    Parallel Title: Erscheint auch als
    DDC: 306
    Keywords: Electronic books
    Note: Description based on publisher supplied metadata and other sources
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  • 17
    Online Resource
    Online Resource
    Milton : Taylor & Francis Group
    ISBN: 9781000184051
    Language: English
    Pages: 1 online resource (313 pages)
    Series Statement: Global Issues Ser.
    Parallel Title: Erscheint auch als
    DDC: 305.8/001
    Keywords: Electronic books
    Abstract: Cover -- Half Title -- Series Page -- Title Page -- Copyright Page -- Dedication -- Contents -- Preface and Acknowledgements -- Introduction -- PART I Selective Traditions -- CHAPTER ONE Politically engaged social enquiry and images of society -- PART II Cultural Differentiations -- CHAPTER TWO The production of culture in local rebellion -- CHAPTER THREE Secret agents, hidden meanings: domination and resistance re-examined -- PART III Modernity and New Socio-Economic Forms -- CHAPTER FOUR Knowing their place: regional economies and the social construction of place in Western Europe -- CHAPTER FIVE Towards an ethnographic method for the study of 'informalized' regional economies in Western Europe -- PART IV Disciplined Practices -- CHAPTER SIX Overlapping collectivities: Local concern, state welfare and social membership -- CHAPTER SEVEN The dialectics of history and will: The Janus face of hegemonic processes -- References -- Index.
    Note: Description based on publisher supplied metadata and other sources
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  • 18
    Online Resource
    Online Resource
    Milton : Taylor & Francis Group
    ISBN: 9781000319095
    Language: English
    Pages: 1 online resource (225 pages)
    Parallel Title: Erscheint auch als
    DDC: 305.26
    Keywords: Electronic books
    Note: Description based on publisher supplied metadata and other sources
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  • 19
    Online Resource
    Online Resource
    Oxford : Oxford University Press
    ISBN: 019154275X , 9780191542756
    Language: English
    Pages: 1 Online-Ressource (351 pages)
    Parallel Title: Erscheint auch als Kaeuper, Richard W Chivalry and violence in medieval Europe
    DDC: 940.1/0088355
    Keywords: Violence History ; Violence History To 1500 ; Social history Medieval, 500-1500 ; Chansons de geste History and criticism ; Chivalry in literature ; Civilization, Medieval ; Knights and knighthood ; Chivalry History ; Chansons de geste ; Social history ; Medieval ; Violence ; HISTORY ; Europe ; Western ; Criticism, interpretation, etc ; History ; Chivalry ; Chivalry in literature ; Civilization, Medieval ; Knights and knighthood ; Europe
    Abstract: Kaeuper reveals that chivalry was part of the problem of violence in the rapidly developing medieval European society, not simply part of the solution
    Abstract: The problem of public order and the knights -- Evidence of chivalry and its interpretation -- Knights and piety -- Clergie, chevalerie, and reform -- Chevalerie and royuaute -- English kingship, chivalry, and literature -- The privileged practice of violence -- Knighthood in action -- Social dominance of knights -- Knights, ladies, and love -- Chanson de geste and reform -- Quests and questioning in romance -- Chivalric self-criticism and reform -- Epilogue.
    Note: Includes bibliographical references (pages 311-330) and index
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  • 20
    Online Resource
    Online Resource
    Milton : Taylor & Francis Group
    ISBN: 9781136783791
    Language: English
    Pages: 1 online resource (176 pages)
    Parallel Title: Erscheint auch als
    DDC: 306.77
    Keywords: Electronic books
    Note: Description based on publisher supplied metadata and other sources
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  • 21
    Online Resource
    Online Resource
    Milton : Taylor & Francis Group
    ISBN: 9781135301989
    Language: English
    Pages: 1 online resource (289 pages)
    Parallel Title: Erscheint auch als
    DDC: 306.2/7/0941
    Keywords: Electronic books
    Note: Description based on publisher supplied metadata and other sources
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  • 22
    ISBN: 9781000009118
    Language: English
    Pages: 1 online resource (224 pages)
    Parallel Title: Erscheint auch als
    DDC: 303.6/0954/7923
    Keywords: Electronic books
    Note: Description based on publisher supplied metadata and other sources
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  • 23
    ISBN: 0195113004 , 0195125053 , 0195354516 , 9780195113006 , 9780195125054 , 9780195354515
    Language: English
    Pages: 1 Online-Ressource (xii, 395 pages)
    Series Statement: Ideologies of desire
    DDC: 306.76/62/0945632
    Keywords: Homosexualité masculine / Rome / Histoire ; Homosexualite masculine dans l'art ; Homosexualité masculine dans la littérature ; SOCIAL SCIENCE / Gay Studies ; Geschichte ; Male homosexuality History ; Male homosexuality in art ; Male homosexuality in literature ; Männlichkeit ; Ideologie ; Mann ; Homosexualität ; Rom ; Römisches Reich ; Hochschulschrift ; Römisches Reich ; Homosexualität ; Mann ; Römisches Reich ; Männlichkeit ; Ideologie
    Note: Revision of the author's thesis , Includes bibliographical references (pages 259-375) and indexes , Introduction -- - Roman traditions: slaves, prostitutes, and wives -- - Greece and Rome -- - The concept of stuprum -- - Effeminacy and masculinity -- - Sexual roles and identities
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  • 24
    ISBN: 9780198207771 , 9780191677793 (Sekundärausgabe)
    Language: English
    Pages: viii, 268 p.
    Edition: Online-Ausg. Online-Ressource ISBN 9780191677793
    Edition: [Online-Ausg.]
    Series Statement: Oxford historical monographs
    DDC: 305.5094409034
    RVK:
    Keywords: Geschichte 1800-1900 ; Bürgertum ; Frankreich
    Abstract: This volume analyses the process by which class society developed in post-revolutionary France. Focusing on bourgeois men and on their voluntary associations, it addresses the construction of class and gender identities.
    Note: Includes bibliographical references and index , Online-Ausg.:
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  • 25
    ISBN: 0821343106
    Language: English
    Pages: Online-Ressource (xix, 71 p) , ill , 28 cm
    Edition: Online-Ausg. World Bank E-Library Archive
    Series Statement: Operations evaluation study
    DDC: 362.1/09172/4
    Keywords: World Bank Evaluation ; World Bank Evaluation ; Nutrition policy Developing countries ; Evaluation ; Public health International cooperation ; Public health administration Evaluation ; Nutrition policy Developing countries ; Evaluation ; Public health International cooperation ; Public health administration Evaluation ; Developing countries Population policy ; Evaluation ; Developing countries Population policy ; Evaluation
    Note: Includes bibliographical references (p. 67-69)
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 26
    Online Resource
    Online Resource
    Oxford : Oxford University Press
    ISBN: 0195110323 , 9780195110326
    Language: English
    Pages: Online-Ressource (ix, 476 p)
    Edition: Online-Ausg. 2009 Electronic reproduction; Available via World Wide Web
    Parallel Title: Print version Sex and Social Justice
    DDC: 305.42
    RVK:
    RVK:
    RVK:
    RVK:
    Keywords: Social justice ; Sex role ; Feminism ; Feminism ; Electronic books ; Aufsatzsammlung
    Abstract: These essays articulate a distinctive conception of feminism, one rooted in the liberal tradition of political thought but responsive to radical feminist critiques of this tradition. They chart a feminism that is deeply concerned with global justice and with the needs of women who live in hunger
    Description / Table of Contents: Contents; Introduction: Feminism, Internationalism, Liberalism; PART I: JUSTICE; PART II: SEX; Notes; Name Index; Subject Index
    Note: Includes bibliographical references (p. 375-462) and indexes , Electronic reproduction; Available via World Wide Web
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  • 27
    Online Resource
    Online Resource
    Berkeley, Calif. : University of California Press | Oxford : Oxford University Press
    ISBN: 9780520919891 , 0520919890
    Language: English
    Pages: 1 Online-Ressource (xv, 301 p.) , Ill.
    DDC: 791.4372
    RVK:
    RVK:
    Keywords: Lawrence of Arabia (Motion picture) ; Lawrence of Arabia ; Arabs in motion pictures
    Abstract: Combining ethnography, film criticism, and his extensive knowledge of the Middle East, Steven C. Caton presents an innovative and fascinating examination of the classic film, 'Lawrence of Arabia'.
    Note: Includes bibliographical references and index
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  • 28
    ISBN: 0198296452
    Language: English
    Pages: XVI, 984 Seiten , 24 cm
    Parallel Title: Erscheint auch als Elections in Africa
    DDC: 324.96032021
    RVK:
    RVK:
    Keywords: Elections Statistics ; Abstimmung ; Wahl ; Afrika Nordafrika ; Afrika südlich der Sahara ; Wahl/Abstimmung ; Länderbezogene Beiträge ; Afrika ; Nordafrika ; Subsaharisches Afrika ; Afrika ; Parlamentswahl ; Afrika ; Wahl ; Geschichte
    Note: Literaturangaben , Hier auch später erschienene, unveränderte Nachdrucke
    URL: Inhaltsverzeichnis  (kostenfrei)
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  • 29
    Online Resource
    Online Resource
    Milton : Taylor & Francis Group
    ISBN: 9781000181364
    Language: English
    Pages: 1 online resource (231 pages)
    Series Statement: Global Issues Ser.
    Parallel Title: Erscheint auch als
    DDC: 305.3/1/0982
    Keywords: Electronic books
    Abstract: Cover -- Half Title -- Title Page -- Copyright Page -- Dedication -- Contents -- Acknowledgements -- Prologue -- Introduction: Frameworks and Perspectives -- PART I Hybridization -- CHAPTER ONE Situating Hybridity and Hybrids -- CHAPTER TWO Male Hybrids in the World of Football -- CHAPTER THREE Hybridization and Male Hybrids in the World of Polo -- PART II Masculine Moralities -- CHAPTER FOUR Locating Masculinities and Moralities -- CHAPTER FIVE Masculinities and Morality in the Poetics of the Argentinian Tango -- CHAPTER SIX Masculine National Virtues and Moralities in Football -- CHAPTER SEVEN The Masculine Imagery of Freedom: the World of Pibes and Maradona -- Epilogue -- Bibliography -- Index.
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  • 30
    Online Resource
    Online Resource
    Milton : Taylor & Francis Group
    ISBN: 9781000158915
    Language: English
    Pages: 1 online resource (193 pages)
    Series Statement: Routledge Modular Psychology Ser.
    Parallel Title: Erscheint auch als
    DDC: 303.32
    Keywords: Electronic books
    Note: Description based on publisher supplied metadata and other sources
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  • 31
    ISBN: 9780429977503
    Language: English
    Pages: 1 online resource (327 pages)
    Parallel Title: Erscheint auch als
    DDC: 305.8/00973
    Keywords: Electronic books
    Abstract: Cover -- Half Title -- Title Page -- Copyright Page -- Dedication -- Table of Contents -- Preface -- Acknowledgments -- Introduction -- 1: Racism Today: Continuity and Change in the Post-Civil Rights Era -- 2: Racial Identity and the State: Contesting the Federal Standards for Classification -- 3: From the Immigrant Paradigm to Transformative Critique: Asians in the Late Capitalist United States -- 4: The New Racism: Racial Structure in the United States, 1960s-1990s -- 5: "In Due Time": Narratives of Race and Place in the Western United States -- 6: A Formal View of the Theory of Racial Formation -- 7: Social Ecological Contexts of Prejudice Between Hispanics and Blacks -- 8: Racial Formation and Chicana/o Identity: Lessons from the Rasquache -- 9: Agribusiness Strategies to Divide the Workforce by Class, Ethnicity, and Legal Status -- 10: The Thinking Heart: American Indian Discourse and the Politics of Recognition -- 11: Virtual Defense: Cyberspace Counterattack Against White Supremacy -- 12: Race, Ethnicity, and Nationality in the United States: A Comparative, Historical Perspective.
    Note: Description based on publisher supplied metadata and other sources
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  • 32
    Online Resource
    Online Resource
    Milton : Taylor & Francis Group
    ISBN: 9780429720772
    Language: English
    Pages: 1 online resource (179 pages)
    Parallel Title: Erscheint auch als
    DDC: 304.8/730723
    Keywords: Electronic books
    Note: Description based on publisher supplied metadata and other sources
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  • 33
    Book
    Book
    Oxford : Oxford University Press
    ISBN: 0192750143
    Language: English
    Pages: 188 S. , Ill.
    Series Statement: Oxford story collections
    DDC: 823.914
    RVK:
    Keywords: Fairy tales ; Children's stories, English
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  • 34
    Online Resource
    Online Resource
    Oxford : Oxford University Press | Ann Arbor, Michigan : ProQuest
    ISBN: 9780191540165
    Language: English
    Pages: 1 Online-Ressource (182 pages)
    DDC: 306
    RVK:
    Keywords: Sozialanthropologie ; Kulturanthropologie ; Einführung
    Abstract: This introduction to social and cultural anthropology combines an account of some of the disciplines guiding principles and methodology with examples of anthropologists at work. The book ends with an assessment of anthropology's current position and a look forward to its future.
    Note: Description based on publisher supplied metadata and other sources
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  • 35
    Online Resource
    Online Resource
    Oxford : Oxford University Press
    ISBN: 0198122977 , 9780199245437
    Language: English
    Pages: Online-Ressource (xiii, 780 p) , ill., ports
    Edition: Online-Ausg. 2009 Electronic reproduction; Available via World Wide Web
    Parallel Title: Erscheint auch als
    Parallel Title: Print version An Oxford Companion to the Romantic Age : British Culture, 1776-1832
    DDC: 306.094109033
    Keywords: Romanticism ; Great Britain ; Civilization ; 18th century ; Great Britain ; Civilization ; 19th century ; Great Britain ; Intellectual life ; 18th century ; Great Britain ; Intellectual life ; 19th century ; Romanticism ; Great Britain ; Electronic books ; Great Britain Intellectual life 19th century ; Great Britain Intellectual life 18th century ; Great Britain Civilization 18th century ; Great Britain Civilization 19th century ; Aufsatzsammlung ; Wörterbuch
    Abstract: The Romantic period in British culture was an era of extraordinarily diverse and original achievements in literature and the arts, accomplished in a time of great political and social upheaval. This book is the first major interdisciplinary reference guide to provide a broad cultural and historical perspective which presents the aesthetic achievements of great literary figures like Wordsworth and Coleridge, their followers and opponents, alongside their counterpartsin the field of art, music, design, science, and the history of ideas, within a comprehensive picture of the period. Forty long essays on key topics, written by major international authorities, are complemented by an alphabetical reference section detailing all the significant figures, works, topics,and major events. Illustrated throughout.
    Note: Includes index , Electronic reproduction; Available via World Wide Web
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  • 36
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    ISBN: 0821344749 , 9780821344743
    Language: English
    Pages: Online-Ressource (1 online resource (80 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Keywords: Banks and Banking Reform ; Debt Markets and Aid Effectiveness ; Economic Theory and Research ; Finance and Financial Sector Development ; Financial Literacy ; Macroeconomics and Economic Growth ; Banks and Banking Reform ; Debt Markets and Aid Effectiveness ; Economic Theory and Research ; Finance and Financial Sector Development ; Financial Literacy ; Macroeconomics and Economic Growth
    Abstract: The ongoing financial crisis has raised questions about the underpinnings of development assistance and the role of international financial institutions. A new development assistance framework, grounded in partnership, is emerging. That is the backdrop for this year's review, which--as in past years--tracks the World Bank's operational performance based on the findings of recent evaluations. After the backdrop provided in chapter one, the chapters that follow review recent evidence about the Bank's development effectiveness. Chapter 2 describes project and sector performance trends. Chapter 3 considers recent evaluation lessons at the country level. It draws on OED's (Operations Evaluation Department) country assistance evaluations to help draw out the lessons of the ongoing crisis. Chapter 4 draws lessons that can be inferred from thematic studies. The final chapter discusses the implications for Bank operations and evaluation
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  • 37
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    ISBN: 082134580X , 9780821345801
    Language: English
    Pages: Online-Ressource (1 online resource (228 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Abstract: Bank research projects investigate a broad range of issues in wide variety of settings. This volume reports on research projects initiated, under way or completed in fiscal 1999 (July 1, 1998, through June 30, 1999), The abstracts in the volume describe, for each project, the questions addressed, the analytical methods used, the findings to date, and their policy implications. Each abstract also identifies the expected completion date, the research team, and any reports or publications produced. The abstracts cover 202 research projects grouped under nine headings:a) poverty and social welfare; b) education and labor markets; c) environmentally sustainable development; d) macroeconomics; e) international economics; f) domestic finance and capital markets; g) transition economies; and h) private sector development and public sector management
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  • 38
    Language: English
    Pages: Online-Ressource (1 online resource (32 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Kanbur, Ravi The Dynamics of Poverty
    Keywords: Chronically Poor ; Communities & Human Settlements ; Debt Markets ; Economic Policies ; Economic Theory and Research ; Farm Size ; Finance and Financial Sector Development ; Financial Literacy ; Household Income ; Household Size ; Household Welfare ; Housing and Human Habitats ; Human Capital ; Incidence Of Poverty ; Income ; Investment and Investment Climate ; Macroeconomics and Economic Growth ; New Poor ; Nonfarm Income ; Old Age ; Poor People ; Poverty ; Poverty Diagnostics ; Poverty Incidence ; Poverty Lines ; Poverty Monitoring and Analysis ; Poverty Reduction ; Rural ; Rural Areas ; Rural Development ; Rural Poverty Reduction ; Targeting ; Temporarily Poor ; Transfers ; Chronically Poor ; Communities & Human Settlements ; Debt Markets ; Economic Policies ; Economic Theory and Research ; Farm Size ; Finance and Financial Sector Development ; Financial Literacy ; Household Income ; Household Size ; Household Welfare ; Housing and Human Habitats ; Human Capital ; Incidence Of Poverty ; Income ; Investment and Investment Climate ; Macroeconomics and Economic Growth ; New Poor ; Nonfarm Income ; Old Age ; Poor People ; Poverty ; Poverty Diagnostics ; Poverty Incidence ; Poverty Lines ; Poverty Monitoring and Analysis ; Poverty Reduction ; Rural ; Rural Areas ; Rural Development ; Rural Poverty Reduction ; Targeting ; Temporarily Poor ; Transfers
    Abstract: August 1995 - In urban areas of Côte d'Ivoire, human capital is the endowment that best explains welfare changes over time. In rural areas, physical capital - especially the amount of land and farm equipment owned - matters most. Empirical investigations of poverty in developing countries tend to focus on the incidence of poverty at a particular point in time. If the incidence of poverty increases, however, there is no information about how many new poor have joined the existing poor and how many people have escaped poverty. Yet this distinction is of crucial policy importance. The chronically poor may need programs to enhance their human and physical capital endowments. Invalids and the very old may need permanent (targeted) transfers. The temporarily poor, on the other hand, may best be helped with programs that complement their own resources and help them bridge a difficult period. Results from analyses of panel surveys show significant mobility into and out of poverty and reveal a dynamism of the poor that policy should stimulate. Understanding what separates chronic from temporary poverty requires knowing which characteristics differentiate those who escape poverty from those who don't. In earlier work, Grootaert, Kanbur, and Oh found that region of residence and socioeconomic status were important factors. In this paper they investigate the role of other household characteristics, especially such asset endowments as human and physical capital, in the case of Côte d'Ivoire. In urban areas of Côte d'Ivoire, human capital is the most important endowment explaining welfare changes over time. Households with well-educated members suffered less loss of welfare than other households. What seems to have mattered, though, is the skills learned through education, not the diplomas obtained. Diplomas may even have worked against some households in having oriented workers too much toward a formal labor market in a time when employment growth came almost entirely from small enterprises. In rural areas, physical capital - especially the amount of land and farm equipment owned - mattered most. Smallholders were more likely to suffer welfare declines. Households with diversified sources of income managed better, especially if they had an important source of nonfarm income. In both rural and urban areas, larger households suffered greater declines in welfare and households that got larger were unable to increase income enough to maintain their former welfare level. Households whose heads worked in the public sector maintained welfare better than other households, a finding that confirms earlier observations. The results also suggest that government policies toward certain regions or types of household can outweigh the effects of household endownments. Surprisingly, migrant non-Ivorian households tended to be better at preventing welfare losses than Ivorian households, while households headed by women did better than those headed by men (after controlling for differences in or changes in endowment). The implications for policymakers? First, education is associated with higher welfare levels and helps people cope better with economic decline. Second, targeting the social safety net to larger households - possibly through the schools, to reach children - is justified in periods of decline. Third, smallholders might be targeted in rural areas, and ways found to encourage diversification of income there. This paper - a joint product of the Social Policy and Resettlement Division, Environment Department, and the Africa Regional Office, Office of the Chief Economist - is the result of a research project on The Dynamics of Poverty: Why Some People Escape Poverty and Others Don't, A Panel Analysis for Côte d'Ivoire (RPO 678-70)
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  • 39
    Language: English
    Pages: Online-Ressource (1 online resource (34 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Ravallion, Martin Are the Poor Less Well-Insured?
    Keywords: 1997 ; China ; Consumption ; Consumption ; Current Consumption ; Emerging Markets ; Finance and Financial Sector Development ; Financial Intermediation ; Fiscal and Monetary Policy ; Health Systems Development and Reform ; Health, Nutrition and Population ; Household Size ; Households ; Income ; Income ; Income Risk ; Income Shock ; Inequality ; Insurance ; Labor Policies ; Macroeconomics and Economic Growth ; Martin ; Poor ; Poor Areas ; Poverty Reduction ; Private Sector Development ; Public Sector Development ; Rural Development ; Rural Poverty Reduction ; Services and Transfers to Poor ; Social Protections and Labor ; Vulnerability ; Wealth Groups ; 1997 ; China ; Consumption ; Consumption ; Current Consumption ; Emerging Markets ; Finance and Financial Sector Development ; Financial Intermediation ; Fiscal and Monetary Policy ; Health Systems Development and Reform ; Health, Nutrition and Population ; Household Size ; Households ; Income ; Income ; Income Risk ; Income Shock ; Inequality ; Insurance ; Labor Policies ; Macroeconomics and Economic Growth ; Martin ; Poor ; Poor Areas ; Poverty Reduction ; Private Sector Development ; Public Sector Development ; Rural Development ; Rural Poverty Reduction ; Services and Transfers to Poor ; Social Protections and Labor ; Vulnerability ; Wealth Groups
    Abstract: December 1997 - In rural China, those in the poorest wealth decile are the least well-insured, with 40 percent of an income shock being passed on to current consumption. By contrast, consumption by the richest third of households is protected from almost 90 percent of an income shock. Jalan and Ravallion test how well consumption is insured against income risk in a panel of sampled households in rural China. They estimate the risk insurance models by Generalized Method of Moments, treating income and household size as endogenous. Insurance exists for all wealth groups, although the hypothesis of perfect insurance is universally rejected. Those in the poorest wealth decile are the least well-insured, with 40 percent of an income shock being passed on to current consumption. By contrast, consumption by the richest third of households is protected from almost 90 percent of an income shock. The extent of insurance in a given wealth stratum varies little between poor and nonpoor areas. This paper-a product of the Development Research Group-is part of a larger effort in the group to understand private insurance arrangements in poor rural economies. The study was funded by the Bank's Research Support Budget under the research project Dynamics of Poverty in Rural China (RPO 678-69)
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  • 40
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (46 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Dollar, David Aid Allocation and Poverty Reduction
    Keywords: Development Efforts ; Domestic Poverty ; Economic Growth ; Elimination Of Poverty ; Emergencies ; Health, Nutrition and Population ; Level Of Poverty ; Living Standards ; National Policy ; Policies ; Policy Level ; Poor People ; Population Policies ; Poverty ; Poverty Reduction ; Poverty Reduction ; Pro-Poor Growth ; Quantitative Measures ; Recipient Countries ; Respect ; Rule Of Law ; Rural Development ; Rural Poverty Reduction ; Sectoral Policies ; Services and Transfers to Poor ; Sustainable Growth ; War ; Development Efforts ; Domestic Poverty ; Economic Growth ; Elimination Of Poverty ; Emergencies ; Health, Nutrition and Population ; Level Of Poverty ; Living Standards ; National Policy ; Policies ; Policy Level ; Poor People ; Population Policies ; Poverty ; Poverty Reduction ; Poverty Reduction ; Pro-Poor Growth ; Quantitative Measures ; Recipient Countries ; Respect ; Rule Of Law ; Rural Development ; Rural Poverty Reduction ; Sectoral Policies ; Services and Transfers to Poor ; Sustainable Growth ; War
    Abstract: In the efficient allocation of aid, aid is targeted disproportionately to countries with severe poverty and adequate policies. For a given level of poverty, aid tapers in with policy reform. In the actual allocation of aid, aid tapers out with reform. - Aid now lifts about 30 million people a year out of absolute poverty. With a poverty-efficient allocation, the same amount of aid would lift about 80 million people out of poverty. Collier and Dollar derive a poverty-efficient allocation of aid and compare it with actual aid allocations. They build the poverty-efficient allocation in two stages. First they use new World Bank ratings of 20 different aspects of national policy to establish the current relationship between aid, policies, and growth. Onto that, they add a mapping from growth to poverty reduction, which reflects the level and distribution of income. They compare the effects of using headcount and poverty-gap measures of poverty. They find the actual allocation of aid to be radically different from the poverty-efficient allocation. In the efficient allocation, for a given level of poverty, aid tapers in with policy reform. In the actual allocation, aid tapers out with reform. In the efficient allocation, aid is targeted disproportionately to countries with severe poverty and adequate policies - the type of country where 74 percent of the world's poor live. In the actual allocation, such countries receive a much smaller share of aid (56 percent) than their share of the world's poor. With the present allocation, aid is effective in sustainably lifting about 30 million people a year out of absolute poverty. With a poverty-efficient allocation, this would increase to about 80 million people. Even with political constraints introduced to keep allocations for India and China constant, poverty reduction would increase to about 60 million. Reallocating aid is politically difficult, but it may be considerably less difficult than quadrupling aid budgets, which is what the authors estimate would be necessary to achieve the same impact on poverty reduction with existing aid allocations. This paper - a joint product of the Office of the Director, and Macroeconomics and Growth, Development Research Group - is part of a larger effort in the group to examine aid effectiveness. The authors may be contacted at pcollierworldbank.org or ddollar@worldbank.org
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  • 41
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (43 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Ravallion, Martin Subjective Economic Welfare
    Keywords: Bank ; Calculation ; Consumer ; Consumers ; Demand ; Demands ; Economic Theory and Research ; Family Allowances ; Finance and Financial Sector Development ; Financial Literacy ; Health Systems Development and Reform ; Health, Nutrition and Population ; Household Income ; Household Incomes ; Income ; Incomes ; Inequality ; Inflation ; Information ; Macroeconomics and Economic Growth ; Money ; Pensioner ; Population Policies ; Poverty Diagnostics ; Poverty Lines ; Poverty Monitoring and Analysis ; Poverty Rate ; Poverty Reduction ; Property ; Rural Development ; Rural Poverty Reduction ; Services and Transfers to Poor ; Spending ; Unemployment ; Welfare ; Bank ; Calculation ; Consumer ; Consumers ; Demand ; Demands ; Economic Theory and Research ; Family Allowances ; Finance and Financial Sector Development ; Financial Literacy ; Health Systems Development and Reform ; Health, Nutrition and Population ; Household Income ; Household Incomes ; Income ; Incomes ; Inequality ; Inflation ; Information ; Macroeconomics and Economic Growth ; Money ; Pensioner ; Population Policies ; Poverty Diagnostics ; Poverty Lines ; Poverty Monitoring and Analysis ; Poverty Rate ; Poverty Reduction ; Property ; Rural Development ; Rural Poverty Reduction ; Services and Transfers to Poor ; Spending ; Unemployment ; Welfare
    Abstract: April 1999 - As conventionally measured, current household income relative to a poverty line can only partially explain how Russian adults perceive their economic welfare. Other factors include past incomes, individual incomes, household consumption, current unemployment, risk of unemployment, health status, education, and relative income in the area of residence. Paradoxically, when economists analyze a policy's impact on welfare they typically assume that people are the best judges of their own welfare, yet resist directly asking them if they are better off. Early ideas of utility were explicitly subjective, but modern economists generally ignore people's expressed views about their own welfare. Even using a broad set of conventional socioeconomic data may not reflect well people's subjective perceptions of their poverty. Ravallion and Lokshin examine the determinants of subjective economic welfare in Russia, including its relationship to conventional objective indicators. For data on subjective perceptions, they use survey responses in which respondents rate their level of welfare from poor to rich on a nine-point ladder. As an objective indicator of economic welfare, they use the most common poverty indicator in Russia today, in which household incomes are deflated by household-specific poverty lines. They find that Russian adults with higher family income per equivalent adult are less likely to place themselves on the lowest rungs of the subjective ladder and more likely to put themselves on the upper rungs. But current household income does not explain well self-reported assessments of whether someone is poor or rich. Expanding the set of variables to include incomes at different dates, expenditures, educational attainment, health status, employment, and average income in the area of residence doubles explanatory power. Healthier and better educated adults with jobs perceive themselves to be better off, controlling for income. The unemployed view their welfare as lower, even with full income replacement. Individual income matters independent of per capita household income. Relative income also matters. Living in a richer area lowers perceived economic welfare, controlling for income and other factors. This paper-a product of Poverty and Human Resources, Development Research Group-is part of a larger effort in the group to better understand the relationship between objective and subjective economic welfare. The study was funded by the Bank's Research Support Budget under the research project Policies for Poor Areas (RPO 681-39). The authors may be contacted at mravallionworldbank.org or mlokshin@worldbank.org
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  • 42
    Language: English
    Pages: Online-Ressource (1 online resource (27 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Lopez-Acevedo, Gladys Learning Outcomes and School Cost-Effectiveness in Mexico
    Keywords: Dropout Rates ; Education ; Education Budget ; Education for All ; Educational System ; Effective Schools and Teachers ; Learning ; Learning Outcomes ; Literature ; Ministry Of Education ; Primary Education ; Professor ; Quality Of Education ; Research ; School ; Schools ; Science ; Secondary Education ; Student ; Student Learning ; Students ; Teacher ; Teachers ; Tertiary Education ; Textbooks ; Training ; Dropout Rates ; Education ; Education Budget ; Education for All ; Educational System ; Effective Schools and Teachers ; Learning ; Learning Outcomes ; Literature ; Ministry Of Education ; Primary Education ; Professor ; Quality Of Education ; Research ; School ; Schools ; Science ; Secondary Education ; Student ; Student Learning ; Students ; Teacher ; Teachers ; Tertiary Education ; Textbooks ; Training
    Abstract: May 1999 - Roughly doubling the school resources allocated per student overcame a 30 percent deficit in test scores among rural students in Mexico's PARE program. Past research often attributed most differences in student learning to socioeconomic factors, implying that the potential for direct educational interventions to reduce learning inequality was limited. Acevedo shows that learning achievement can be improved through appropriately designed and reasonably well-implemented interventions. She studies the impact of the Programa para Abatir el Rezago Educativo (PARE), a program designed to improve the quality and efficiency of primary education in four Mexican states by improving school resources. The PARE program increased learning achievement in rural and native schools, where students had typically not performed as well as other students (in Spanish). Not only did students' cognitive abilities improve under the PARE program, but the probability of their continuing in school improved. In rural areas where the PARE design was fully implemented, test scores for the average student increased considerably. A 30 percent deficit in test scores among rural students could be overcome by roughly doubling the resources allocated per student. This paper-a product of the Mexico Country Management Unit, Latin America and the Caribbean Region-is part of a larger effort in the region to understand the impact of program intervention in Mexico. The author may be contacted at gacevedoworldbank.org
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  • 43
    Language: English
    Pages: Online-Ressource (1 online resource (57 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Peria, Maria A Regime-Switching Approach to Studying Speculative Attacks
    Keywords: Central Bank ; Crawling Peg ; Currencies ; Currencies and Exchange Rates ; Currency ; Debt Markets ; Dependent Variable ; Devaluations ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; European Monetary System ; Exchange Rate ; Exchange Rate Mechanism ; Exchange Rates ; Federal Reserve ; Federal Reserve Bank ; Finance and Financial Sector Development ; Financial Literacy ; Financial Markets ; Fixed Exchange Rate ; Fixed Exchange Rate Regimes ; Fixed Exchange Rate Systems ; Interest Rates ; Macroeconomics and Economic Growth ; Private Sector Development ; Speculative Attack ; Speculative Attacks ; Speculative Pressure ; Central Bank ; Crawling Peg ; Currencies ; Currencies and Exchange Rates ; Currency ; Debt Markets ; Dependent Variable ; Devaluations ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; European Monetary System ; Exchange Rate ; Exchange Rate Mechanism ; Exchange Rates ; Federal Reserve ; Federal Reserve Bank ; Finance and Financial Sector Development ; Financial Literacy ; Financial Markets ; Fixed Exchange Rate ; Fixed Exchange Rate Regimes ; Fixed Exchange Rate Systems ; Interest Rates ; Macroeconomics and Economic Growth ; Private Sector Development ; Speculative Attack ; Speculative Attacks ; Speculative Pressure
    Abstract: June 1999 - A regime-switching framework is used to study speculative attacks against European Monetary System currencies during 1979-93. Peria uses a regime-switching framework to study speculative attacks against European Monetary System (EMS) currencies during 1979-93. She identifies speculative attacks by modeling exchange rates, reserves, and interest rates as time series subject to discrete regime shifts. She assumes two states: tranquil and speculative. She models the probabilities of switching between states as a function of fundamentals and expectations. She concludes that: ° The switching models with time-varying transition probabilities capture most of the conventional episodes of speculative attacks. ° Speculative attacks do not always coincide with currency realignments. ° Both economic fundamentals and expectations determine the likelihood of switching from a period of tranquility to a speculative attack. The budget deficit appears to be an especially important factor driving the probability of switching to a speculative regime. Given the importance of anticipating and, wherever possible, avoiding crises, it might be useful to conduct forecasting exercises to determine whether the switching framework proposed here can be used to forecast crises in countries outside the sample. Because currency crises tend to occur simultaneously in two or more countries, it also might be useful to adapt the regime-switching framework to explore the role of contagion in explaining crises. This paper-a product of Finance, Development Research Group-is part of a larger effort in the group to understand currency crises. The author may be contacted at mmartinezperiaworldbank.org
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  • 44
    Language: English
    Pages: Online-Ressource (1 online resource (27 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Wallsten, Scott An Empirical Analysis of Competition, Privatization, and Regulation in Telecommunications Markets in Africa and Latin America
    Keywords: Telekommunikation ; Telekommunikationspolitik ; Privatisierung ; Deregulierung ; Afrika ; Lateinamerika ; Banks and Banking Reform ; Business ; Business Services ; Data ; E-Business ; Economic Theory and Research ; Education ; Emerging Markets ; ICT Policy and Strategies ; Information and Communication Technologies ; Infrastructure Economics and Finance ; Infrastructure Regulation ; Institutions ; Knowledge Economy ; Knowledge for Development ; Labor Policies ; Macroeconomics and Economic Growth ; Performance ; Price ; Prices ; Private Sector Development ; Public Sector Regulation ; Reliability ; Results ; Social Protections and Labor ; Technology ; Telecom ; Telecommunication ; Telecommunication Reforms ; Telecommunications ; Telephone ; Telephone Connections ; Telephone Service ; Telephones ; User ; Users ; Banks and Banking Reform ; Business ; Business Services ; Data ; E-Business ; Economic Theory and Research ; Education ; Emerging Markets ; ICT Policy and Strategies ; Information and Communication Technologies ; Infrastructure Economics and Finance ; Infrastructure Regulation ; Institutions ; Knowledge Economy ; Knowledge for Development ; Labor Policies ; Macroeconomics and Economic Growth ; Performance ; Price ; Prices ; Private Sector Development ; Public Sector Regulation ; Reliability ; Results ; Social Protections and Labor ; Technology ; Telecom ; Telecommunication ; Telecommunication Reforms ; Telecommunications ; Telephone ; Telephone Connections ; Telephone Service ; Telephones ; User ; Users
    Abstract: June 1999 - Empirical analysis of telecommunications reforms in 30 African and Latin American countries yields results largely consistent with conventional wisdom. Competition seems to be the most successful change agent, so granting even temporary monopolies may delay the arrival of better services to consumers. Reformers are correct to emphasize that regulatory reform accompany privatization, as privatization without regulation reform may be costly to consumers. Wallsten explores the effects of privatization, competition, and regulation on telecommunications performance in 30 African and Latin American countries from 1984 through 1997. Competition is associated with tangible benefits in terms of mainline penetration, number of pay phones, connection capacity, and reduced prices. Fixed-effects regressions reveal that competition-measured by mobile operators not owned by the incumbent telecommunications provider-is correlated with increases in the per capita number of mainlines, pay phones, and connection capacity, and with decreases in the price of local calls. Privatizing an incumbent is negatively correlated with mainline penetration and connection capacity. Privatization combined with regulation by an independent regulator, however, is positively correlated with connection capacity and substantially mitigates privatization's negative correlation with mainline penetration. Reformers are right to emphasize a combination of privatization, competition, and regulation. But researchers must explore the permutations of regulation: What type of regulation do countries adopt (price caps versus cost-of-service, for example)? How does the regulatory agency work? What is its annual budget? How many employees does it have? Where do the regulators come from? What sort of training and experience do they have? What enforcement powers does the regulatory agency have? In addition, researchers must deal with endogeneity of privatization, competition, and regulation to deal with issues of causality. This paper-a product of Regulation and Competition Policy, Development Research Group-is part of a larger research effort to analyze the role of competition in telecommunications with special emphasis on Africa. The author may be contacted at wallstenstanford.edu
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  • 45
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (37 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Basu, Kaushik Interlinkage, Limited Liability, and Strategic Interaction
    Keywords: Amount Of Cred Borrower ; Contract Law ; Contracts ; Contractual Obligations ; Credit Contract ; Debt Markets ; Default ; Discount ; Discount Rates ; Economic Theory and Research ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Instrument ; Instruments ; Labor Policies ; Law and Development ; Limited Liability ; Loan ; Loan Contracts ; Macroeconomics and Economic Growth ; Moneylender ; Moral Hazard ; Option ; Risk Aversion ; Risk Neutral ; Social Protections and Labor ; Unlimited Liability ; Amount Of Cred Borrower ; Contract Law ; Contracts ; Contractual Obligations ; Credit Contract ; Debt Markets ; Default ; Discount ; Discount Rates ; Economic Theory and Research ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Instrument ; Instruments ; Labor Policies ; Law and Development ; Limited Liability ; Loan ; Loan Contracts ; Macroeconomics and Economic Growth ; Moneylender ; Moral Hazard ; Option ; Risk Aversion ; Risk Neutral ; Social Protections and Labor ; Unlimited Liability
    Abstract: June 1999 - When will a landlord prefer to supply both land and credit to a tenant rather than allow the lender to borrow from a separate moneylender? The paper shows that if tenancy contracts are obtained prior to contracting with the moneylender, and the tenant has limited liability, interlinked deals will predominate over the alternative situation where the landlord and the moneylender act as noncooperative principals. Basu, Bell, and Bose analyze the example of a landlord, a moneylender, and a tenant (the landlord having access to finance on the same terms as the moneylender). It is natural to assume that the landlord has first claim on the tenant's output (as a rule, if they live in the same village, he may have some say in when the crop is harvested). The moneylender is more of an outsider, not well placed to exercise such a claim. A landless, assetless tenant will typically not get a loan unless he has a tenancy. Without interlinkage, the landlord is likely to move first. In the noncooperative sequential game where the landlord is the first mover and also enjoys seniority of claims if the tenant defaults, interlinkage is superior, even if contracts are nonlinear - a result unchanged with the incorporation of moral hazard. The main result is that if a passive principal - one whose decisions are limited to exercising his property rights to determine his share of returns - is the first mover, allocative efficiency is impaired unless his equilibrium payoffs are uniform across states of nature. The limited liability of the tenant creates the strict superiority of interlinkage by making uniform rents nonoptimal when, with noncollusive principals, the landlord (the passive principal) is the first mover. A change in seniority of claims from the first to the second mover (the moneylender) further strengthens this result. But uniform payoffs for the first mover are not essential for allocative efficiency if he is the only principal with a continuously variable instrument of control. So, the main result is sensitive to changes in the order of play but not to changes in the priority of claims. This paper - a product of the Office of the Senior Vice President and Chief Economist, Development Economics - is part of a larger effort in the Bank to understand the institutional structure of rural markets and its welfare implications. The authors may be contacted at kbasuworldbank.org, clive.bell@urz.uni-heidelberg.de, or psbose@cc.memphis.edu
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  • 46
    Language: English
    Pages: Online-Ressource (1 online resource (36 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Ravallion, Martin Income Gains to the Poor from Workfare
    Keywords: Communities & Human Settlements ; Counterfactual ; Economic Theory and Research ; Evaluation ; Experimental Design ; Experimental Methods ; Finance and Financial Sector Development ; Financial Literacy ; Health Systems Development and Reform ; Health, Nutrition and Population ; Household Income ; Housing and Human Habitats ; Impact Evaluation ; Income ; Income ; Inequality ; Intervention ; Labor Policies ; Macroeconomics and Economic Growth ; Matching Methods ; Outcomes ; Participation ; Poverty ; Poverty Impact Evaluation ; Poverty Measures ; Poverty Monitoring and Analysis ; Poverty Reduction ; Programs ; Projects ; Reflexive Comparisons ; Research ; Sampling ; Services and Transfers to Poor ; Social Protections and Labor ; Surveys ; Targeting ; Communities & Human Settlements ; Counterfactual ; Economic Theory and Research ; Evaluation ; Experimental Design ; Experimental Methods ; Finance and Financial Sector Development ; Financial Literacy ; Health Systems Development and Reform ; Health, Nutrition and Population ; Household Income ; Housing and Human Habitats ; Impact Evaluation ; Income ; Income ; Inequality ; Intervention ; Labor Policies ; Macroeconomics and Economic Growth ; Matching Methods ; Outcomes ; Participation ; Poverty ; Poverty Impact Evaluation ; Poverty Measures ; Poverty Monitoring and Analysis ; Poverty Reduction ; Programs ; Projects ; Reflexive Comparisons ; Research ; Sampling ; Services and Transfers to Poor ; Social Protections and Labor ; Surveys ; Targeting
    Abstract: July 1999 - A workfare program was introduced in response to high unemployment in Argentina. An ex-post evaluation using matching methods indicates that the program generated sizable net income gains to generally poor participants. Jalan and Ravallion use propensity-score matching methods to estimate the net income gains to families of workers participating in an Argentinian workfare program. The methods they propose are feasible for evaluating safety net interventions in settings in which many other methods are not feasible. The average gain is about half the gross wage. Even allowing for forgone income, the distribution of gains is decidedly pro-poor. More than half the beneficiaries are in the poorest decile nationally and 80 percent of them are in the poorest quintile - reflecting the self-targeting feature of the program design. Average gains for men and women are similar, but gains are higher for younger workers. Women's greater participation would not enhance average income gains, and the distribution of gains would worsen. Greater participation by the young would raise average gains but would also worsen the distribution. This paper - a product of Poverty and Human Resources, Development Research Group - is part of a larger effort in the group to improve methods for evaluating the poverty impact of Bank-supported programs. The authors may be contacted at jjalanisid.ac.in or mravallion@worldbank.org
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  • 47
    Language: English
    Pages: Online-Ressource (1 online resource (31 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Estache, Antonio Comparing the Performance of Public and Private Water Companies in the Asia and Pacific Region
    Keywords: E-Business ; Economic Theory and Research ; Education ; Ground Water ; Industry ; Infrastructure Economics and Finance ; Infrastructure Regulation ; Knowledge for Development ; Labor Policies ; Litres Per Day ; Macroeconomics and Economic Growth ; Number Of Connections ; Operational Costs ; Operational Expenses ; Performance Indicators ; Private Operators ; Private Sector Development ; Private Water Companies ; Public Utilities ; Raw Water ; Social Protections and Labor ; Surface Sources ; Surface Water ; Town ; Town Water Supply and Sanitation ; Urban Water Supply and Sanitation ; Utilities ; Water ; Water Conservation ; Water Distribution ; Water Production ; Water Resources ; Water Sector ; Water Services ; Water Supply and Sanitation ; Water Supply and Sanitation Governance and Institutions ; Water and Industry ; Wells ; E-Business ; Economic Theory and Research ; Education ; Ground Water ; Industry ; Infrastructure Economics and Finance ; Infrastructure Regulation ; Knowledge for Development ; Labor Policies ; Litres Per Day ; Macroeconomics and Economic Growth ; Number Of Connections ; Operational Costs ; Operational Expenses ; Performance Indicators ; Private Operators ; Private Sector Development ; Private Water Companies ; Public Utilities ; Raw Water ; Social Protections and Labor ; Surface Sources ; Surface Water ; Town ; Town Water Supply and Sanitation ; Urban Water Supply and Sanitation ; Utilities ; Water ; Water Conservation ; Water Distribution ; Water Production ; Water Resources ; Water Sector ; Water Services ; Water Supply and Sanitation ; Water Supply and Sanitation Governance and Institutions ; Water and Industry ; Wells
    Abstract: July 1999 - Efficiency indicators can be useful to regulators assessing the efficiency of an operation and the wedge between tariff and minimum costs. They allow regulators to control for factors over which the operators have no control (such as diversity of water sources, or water quality or user characteristics). Estache and Rossi estimate a stochastic costs frontier for a sample of Asian and Pacific water companies, comparing the performance of public and privatized companies based on detailed firm-specific information published by the Asian Development Bank in 1997. They find private operators of water companies to be more efficient than public operators. Costs in concessioned companies tend to be significantly lower than those in public companies. Estache and Rossi compare the ranking of these companies by efficiency performance (obtained from econometric estimates) with rankings by more standard qualitative and productivity indicators typically used to assess performance. They show that rankings based on standard indicators are not always very consistent. Productivity indicators recognize simple input-output relations, such as the number of workers per client or connection. Frontiers recognize the more complex nature of interactions between inputs and outputs. Cost frontiers show the costs as a function of the level of output (or outputs) and the prices of inputs, and are generally more useful to regulators assessing the wedge between tariff and minimum costs. Production frontiers reveal technical relations between firms' inputs and outputs and provide a useful backup when cost frontiers are difficult to assess for lack of data. This paper - a product of Governance, Regulation and Finance, World Bank Institute - is part of a larger effort in the institute to increase understanding of infrastructure regulation. Antonio Estache may be contacted at aestacheworldbank.org
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  • 48
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (30 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Soloaga, Isidro How Has Regionalism in the 1990s Affected Trade?
    Keywords: Andean Pact ; Currencies and Exchange Rates ; Economic Policy ; Economic Theory and Research ; Exports ; Extra-Bloc Trade ; Finance and Financial Sector Development ; Free Trade ; Free Trade ; Free Trade Area ; Geographical Patterns Of Trade ; Gravity Equation ; Gravity Model ; Gravity Models ; International Economics & Trade ; Law and Development ; Macroeconomics and Economic Growth ; Patterns Of Trade ; Preferential Trade ; Preferential Trade Agreements ; Preferential Trade Area ; Public Sector Development ; Regionalism ; Trade ; Trade Diversion ; Trade Effects ; Trade Flows ; Trade Law ; Trade Liberalization ; Trade Policy ; Andean Pact ; Currencies and Exchange Rates ; Economic Policy ; Economic Theory and Research ; Exports ; Extra-Bloc Trade ; Finance and Financial Sector Development ; Free Trade ; Free Trade ; Free Trade Area ; Geographical Patterns Of Trade ; Gravity Equation ; Gravity Model ; Gravity Models ; International Economics & Trade ; Law and Development ; Macroeconomics and Economic Growth ; Patterns Of Trade ; Preferential Trade ; Preferential Trade Agreements ; Preferential Trade Area ; Public Sector Development ; Regionalism ; Trade ; Trade Diversion ; Trade Effects ; Trade Flows ; Trade Law ; Trade Liberalization ; Trade Policy
    Abstract: August 1999 - The results of a modified gravity model suggest that the new wave of regionalism has not boosted intra-bloc trading significantly. Trade liberalization in Latin America did have a positive impact on the imports of bloc members, although MERCOSUR's exports did poorly over the mid-1990s. Soloaga and Winters apply a gravity model to data on annual nonfuel imports for 58 countries for the years 1980-96, to quantify the effects on trade of recently created or revamped preferential trade agreements (PTAs). They modify the usual gravity equation to identify the separate effects of PTAs on intra-bloc trade, members' total imports, and members' total exports. They also formally test the significance of changes in the estimated coefficients before and after the blocs' formation. Their estimates give no indication that the new wave of regionalism boosted intra-bloc trade significantly. They found convincing evidence of trade diversion only for the European Union and the European Free Trade Association. For the same blocs they also observed export diversion, which would be consistent with these blocs' imposing a welfare cost on the rest of the world. Trade liberalization efforts in Latin America have had a positive impact on the imports of bloc members (Andean Group, Central American Common Market, Latin American Integration Association, and MERCOSUR). Increasing propensities to export generally accompanied increasing propensities to import, suggesting that general trade liberalization had a strong effect. The exception was MERCOSUR, for which import and export propensities displayed opposite movements, with exports performing worse than expected over the mid-1990s. Although MERCOSUR members have undoubtedly liberalized since the mid-1980s, these results suggest that their trade performance has been influenced more by competitiveness than by trade policy. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to study the effects of regional integration. The authors may be contacted at isoloagaworldbank.org or l.a.winters@sussex.ac.uk
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  • 49
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (29 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Schiff, Maurice Will the Real Natural Trading Partner Please Stand Up?
    Keywords: Currencies and Exchange Rates ; Customs Unions ; Economic Theory and Research ; Emerging Markets ; External Trade ; Finance and Financial Sector Development ; Free Trade ; Free Trade ; Free Trade Agreements ; Free Trade Areas ; International Economics & Trade ; International Trade ; Law and Development ; Macroeconomics and Economic Growth ; Markets and Market Access ; Perfect Competition ; Preferential Trade ; Preferential Trade Agreement ; Private Sector Development ; Public Sector Development ; Regional Integration ; Regional Trade ; Tariff ; Tariff Revenues ; Trade ; Trade Creation ; Trade Diversion ; Trade Law ; Trade Policy ; Trade Policy ; Trade and Regional Integration ; Transport Costs ; Volume Of Trade ; World Trade ; Currencies and Exchange Rates ; Customs Unions ; Economic Theory and Research ; Emerging Markets ; External Trade ; Finance and Financial Sector Development ; Free Trade ; Free Trade ; Free Trade Agreements ; Free Trade Areas ; International Economics & Trade ; International Trade ; Law and Development ; Macroeconomics and Economic Growth ; Markets and Market Access ; Perfect Competition ; Preferential Trade ; Preferential Trade Agreement ; Private Sector Development ; Public Sector Development ; Regional Integration ; Regional Trade ; Tariff ; Tariff Revenues ; Trade ; Trade Creation ; Trade Diversion ; Trade Law ; Trade Policy ; Trade Policy ; Trade and Regional Integration ; Transport Costs ; Volume Of Trade ; World Trade
    Abstract: August 1999 - Adherents of the natural trading partner hypothesis argue that preferential trade agreements are more likely to improve welfare if participating countries already trade disproportionately with each other. Opponents argue the opposite. Neither side is right. The hypothesis holds up only if two countries are natural trading partners in the sense that one country tends to import what the other exports. Adherents of the natural trading partner hypothesis argue that preferential trade agreements (PTAs) are more likely to improve welfare if participating countries already trade disproportionately with each other. Opponents of the hypothesis claim that the opposite is true: welfare gains are likely to be greater if participating countries trade less with each other. Schiff shows that neither analysis is correct. The natural trading partner hypothesis can be rescued if it is redefined in terms of complementarity or substitutability in the trade relations of countries, rather than in terms of their volume of trade. Schiff asks not whether a country should form or join a trading bloc but which partner or partners it should select if it does join such a bloc. He shows that the pre-PTA volume of trade is not a useful criterion for selecting a partner. The pre-PTA volume is equal to zero if the partner is an importer of the good sold to the home country and it is indeterminate if the partner is an exporter of that good. Among Schiff's conclusions: ° The home country is better off with a large partner country. First, a large partner is more likely to satisfy the home country's import demand at the world price. Second, the home country is likely to gain more on its exports to a large partner country, because that partner is likely to continue importing from the world market after formation of the trading bloc. And since the partner charges a tariff on imports from the world market, the home country is more likely to improve its terms of trade by selling to the partner at the higher tariff-inclusive price if the partner is large. ° The PTA as a whole is likely to be better off if each country imports what the other exports (rather than each country importing what the other imports). Losses are similar but less likely, while gains are both more likely and the same or larger. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to understand the economics of regional integration. The author may be contacted at mschiffworldbank.org
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  • 50
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (60 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Narayan, Deepa Social Capital and the State
    Keywords: Civil Society ; Civil Society Organizations ; Community ; Community Development and Empowerment ; Corruption ; Disability ; Economic Development ; Education ; Education and Society ; Finance and Financial Sector Development ; Financial Literacy ; Full Participation ; Governance ; Governance ; Governance Indicators ; Health, Nutrition and Population ; Human Development ; Income ; Indicators ; Institutions ; National Governance ; Participation ; Policy Implications ; Population Policies ; Poverty ; Service ; Service Delivery ; Social Activities ; Social Capital ; Social Cohesion ; Social Development ; Social Development ; Social Groups ; Social Inclusion and Institutions ; Social Justice ; Social Protections and Labor ; Civil Society ; Civil Society Organizations ; Community ; Community Development and Empowerment ; Corruption ; Disability ; Economic Development ; Education ; Education and Society ; Finance and Financial Sector Development ; Financial Literacy ; Full Participation ; Governance ; Governance ; Governance Indicators ; Health, Nutrition and Population ; Human Development ; Income ; Indicators ; Institutions ; National Governance ; Participation ; Policy Implications ; Population Policies ; Poverty ; Service ; Service Delivery ; Social Activities ; Social Capital ; Social Cohesion ; Social Development ; Social Development ; Social Groups ; Social Inclusion and Institutions ; Social Justice ; Social Protections and Labor
    Abstract: August 1999 - Whatever their nature, interventions to reduce poverty should be designed not only to have an immediate impact on poverty, but also to foster a rich network of cross-cutting ties within society and between society's formal and informal institutions. Using the lens of social capital - especially bridging or cross-cutting ties that cut across social groups and between social groups and government - provides new insights into policy design. Solidarity within social groups creates ties (bonding social capital) that bring people and resources together. In unequal societies, ties that cut across groups (bridging social capital) are essential for social cohesion and for poverty reduction. The nature of interaction between state and society is characterized as complementarity and substitution. When states are functional, the informal and formal work well together - for example, government support for community-based development. When states become dysfunctional, the informal institutions become a substitute and are reduced to serving a defensive or survival function. To move toward economic and social well-being, states must support inclusive development. Investments in the organizational capacity of the poor are critical. Interventions are also required to foster bridging ties across social groups - ethnic, religious, caste, or racial groups. Such interventions can stem from the state, private sector, or civil society and include: ° Changes in rules to include groups previously excluded from formal systems of finance, education, and governance, at all levels. ° Political pluralism and citizenship rights. ° Fairness before the law for all social groups. ° Availability of public spaces that bring social groups together. ° Infrastructure that eases communication. ° Education, media, and public information policies that reinforce norms and values of tolerance and diversity. This paper - a product of the Poverty Division, Poverty Reduction and Economic Management Network - is part of a larger effort in the network to understand the role of social capital. The author may be contacted at dnarayanworldbank.org
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  • 51
    Language: English
    Pages: Online-Ressource (1 online resource (42 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Sambanis, Nicholas Ethnic Partition as a Solution to Ethnic War
    Keywords: Agreement ; Alliances ; Atrocities ; Children and Youth ; Civil War ; Civil Wars ; Conflict ; Conflict and Development ; Constraints ; Economy ; Genocide ; Hazard Risk Management ; Health, Nutrition and Population ; Human Rights ; International Affairs ; International Community ; Negotiated Settlement ; Peace ; Peace and Peacekeeping ; Polarization ; Population Policies ; Post Conflict Reconstruction ; Post Conflict Reintegration ; Rebels ; Reconciliation ; Reconstruction ; Urban Development ; Violence ; Violent Conflict ; War ; Agreement ; Alliances ; Atrocities ; Children and Youth ; Civil War ; Civil Wars ; Conflict ; Conflict and Development ; Constraints ; Economy ; Genocide ; Hazard Risk Management ; Health, Nutrition and Population ; Human Rights ; International Affairs ; International Community ; Negotiated Settlement ; Peace ; Peace and Peacekeeping ; Polarization ; Population Policies ; Post Conflict Reconstruction ; Post Conflict Reintegration ; Rebels ; Reconciliation ; Reconstruction ; Urban Development ; Violence ; Violent Conflict ; War
    Abstract: October 1999 - Partition theorists argue that when violent ethnic conflict is intense, civil politics cannot be restored unless ethnic groups are demographically separated into defensible enclaves. The empirical evidence suggests otherwise. Some theorists of ethnic conflict argue that the physical separation of warring ethnic groups may be the only possible solution to civil war. Without territorial partition and (if needed) forced population movements, they argue, ethnic war cannot end and genocide is likely. Other scholars have counterargued that partition only replaces internal war with international war, creates undemocratic successor states, and generates tremendous human suffering. So far this debate has been informed by few important case studies. Sambanis uses a new set of data on civil wars to identify the main determinants of ethnic partitions and to estimate their impact on the probability of war's recurrence, on low-grade ethnic violence, and on the political institutions of successor states. Sambanis's analysis is the first large-sample quantitative analysis of the subject, testing the propositions of partition theory and weighing heavily on the side of its critics. He shows that almost all the assertions of partition theorists fail to pass rigorous empirical tests. He finds that, on average, partition does not significantly reduce the probability of new violence. A better strategy might be to combine ethnic groups, but most important is to establish credible and equitable systems of governance. It is also important not to load the strategy with subjective premises about the necessity of ethnically pure states and about the futility of interethnic cooperation. This paper - a product of Public Economics, Development Research Group - is part of a larger effort in the group to study the economics of civil wars. The author may be contacted at nsambanisworldbank.org〉
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  • 52
    Language: English
    Pages: Online-Ressource (1 online resource (78 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Barros, de Paes Ricardo The Slippery Slope
    Keywords: Economic Growth ; Economic Theory and Research ; Extreme Poverty ; Finance and Financial Sector Development ; Financial Literacy ; Formal Safety Nets ; Health, Nutrition and Population ; Household Composition ; Household Income ; Household Per Capita Income ; Income ; Income Distribution ; Income Inequality ; Inequality ; Inequality ; Labor Markets ; Labor Policies ; Macroeconomics and Economic Growth ; Measures ; Poor ; Poor Households ; Population Policies ; Poverty Incidence ; Poverty Indices ; Poverty Line ; Poverty Lines ; Poverty Measures ; Poverty Reduction ; Pro-Poor Growth ; Rural ; Rural Development ; Rural Poverty Reduction ; Services and Transfers to Poor ; Social Protections and Labor ; Unemployment ; Economic Growth ; Economic Theory and Research ; Extreme Poverty ; Finance and Financial Sector Development ; Financial Literacy ; Formal Safety Nets ; Health, Nutrition and Population ; Household Composition ; Household Income ; Household Per Capita Income ; Income ; Income Distribution ; Income Inequality ; Inequality ; Inequality ; Labor Markets ; Labor Policies ; Macroeconomics and Economic Growth ; Measures ; Poor ; Poor Households ; Population Policies ; Poverty Incidence ; Poverty Indices ; Poverty Line ; Poverty Lines ; Poverty Measures ; Poverty Reduction ; Pro-Poor Growth ; Rural ; Rural Development ; Rural Poverty Reduction ; Services and Transfers to Poor ; Social Protections and Labor ; Unemployment
    Abstract: October 1999 - During the turbulent years 1976-96, aggregate data for Brazil appear to show only small changes in mean income, inequality, and incidence of poverty - suggesting little change in the distribution of income. But a small group of urban households - excluded from formal labor markets and safety nets - was trapped in indigence. Based on welfare measured in terms of income alone, the poorest part of urban Brazil has experienced two lost decades. Despite tremendous macroeconomic instability in Brazil, the country's distributions of urban income in 1976 and 1996 appear, at first glance, deceptively similar. Mean household income per capita was stagnant, with minute accumulated growth (4.3 percent) over the two decades. The Gini coefficient hovered just above 0.59 in both years, and the incidence of poverty (relative to a poverty line of R
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  • 53
    Language: English
    Pages: Online-Ressource (1 online resource (92 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Michalopoulos, Constantine Trade Policy and Market Access Issues for Developing Countries
    Keywords: Agricultural Trade ; Country Strategy and Performance ; Debt Markets ; Developed Countries ; Developing Countries ; Economic Theory and Research ; Emerging Markets ; Export Subsidies ; Export Subsidy ; Exports ; Finance and Financial Sector Development ; Free Trade ; Imports ; International Economics & Trade ; International Market ; International Trade ; International Trading ; International Trading System ; Law and Development ; Macroeconomics and Economic Growth ; Multilateral Trade Negotiations ; Private Sector Development ; Production ; Public Sector Development ; Tariff ; Tariffs ; Trade ; Trade Law ; Trade Policies ; Trade Policy ; Trade Policy ; Trade Remedies ; World Trade ; Agricultural Trade ; Country Strategy and Performance ; Debt Markets ; Developed Countries ; Developing Countries ; Economic Theory and Research ; Emerging Markets ; Export Subsidies ; Export Subsidy ; Exports ; Finance and Financial Sector Development ; Free Trade ; Imports ; International Economics & Trade ; International Market ; International Trade ; International Trading ; International Trading System ; Law and Development ; Macroeconomics and Economic Growth ; Multilateral Trade Negotiations ; Private Sector Development ; Production ; Public Sector Development ; Tariff ; Tariffs ; Trade ; Trade Law ; Trade Policies ; Trade Policy ; Trade Policy ; Trade Remedies ; World Trade
    Abstract: October 1999 - An analysis of developing countries' current trade policies and market access problems is used as a basis for recommending positions for these countries in the new round of multilateral negotiations under the World Trade Organization. Michalopoulos analyzes 61 trade policy reviews prepared for the World Trade Organization (WTO) and its predecessor, GATT - reviews that document the progress developing countries have made in integration with the world trading system over the past decade. Based on an analysis of post-Uruguay Round tariff and nontariff barriers worldwide, he then recommends developing country positions on major issues in the new round of WTO trade negotiations. His key conclusions and recommendations: · Agriculture. Developing countries should support the Cairns Group in its push for greater liberalization of industrial countries' agricultural trade policies; the revised Food Aid Convention is not a substitute for but a complement to worldwide liberalization of agriculture. · Manufactures. The existence of tariff peaks and escalation in industrial country markets and the limited bindings at relatively high levels of developing country tariffs on manufactures present opportunities for negotiations with good prospects for shared and balanced benefits. The remaining nontariff barriers in industrial countries that affect manufactures are concentrated in textiles and clothing. Developing countries should ensure that industrial countries implement their commitments to liberalize this sector and impose no new nontariff barriers in this or other sectors under the guise of other rules or arrangements. The remaining nontariff barriers in developing countries should be converted into tariffs and reduced over time as part of the negotiations. · Antidumping. The increased use of antidumping measures by high- and middle-income developing countries in recent periods offers an opportunity for balanced negotiations to restrict their use. Reduced use of antidumping measures would increase efficiency and benefit consumers in all countries. But it is unclear whether a supportive climate for such negotiations exists in either industrial or developing countries. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to identify opportunities for developing countries in the WTO 2000 negotiations. The author may be contacted at cmichalopoulosworldbank.org
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  • 54
    Language: English
    Pages: Online-Ressource (1 online resource (34 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Martin, Will The Effect of the United States' Granting Most Favored Nation Status to Vietnam
    Keywords: Agribusiness and Markets ; Agricultural Commodities ; Apparel ; Currencies and Exchange Rates ; Economic Theory and Research ; Export Competitiveness ; Exporters ; Exports ; Finance and Financial Sector Development ; Food and Beverage Industry ; Free Trade ; General Equilibrium Model ; High Tariffs ; Industry ; International Economics & Trade ; Macroeconomics and Economic Growth ; Market Access ; Metal Products ; Public Sector Development ; Rural Development ; Tariff ; Tariff Data ; Tariff Rates ; Tariff Schedule ; Tariffs ; Terms Of Trade ; Trade ; Trade Liberalization ; Trade Patterns ; Trade Policy ; Welfare Gains ; World Trade ; World Trade Organization ; Agribusiness and Markets ; Agricultural Commodities ; Apparel ; Currencies and Exchange Rates ; Economic Theory and Research ; Export Competitiveness ; Exporters ; Exports ; Finance and Financial Sector Development ; Food and Beverage Industry ; Free Trade ; General Equilibrium Model ; High Tariffs ; Industry ; International Economics & Trade ; Macroeconomics and Economic Growth ; Market Access ; Metal Products ; Public Sector Development ; Rural Development ; Tariff ; Tariff Data ; Tariff Rates ; Tariff Schedule ; Tariffs ; Terms Of Trade ; Trade ; Trade Liberalization ; Trade Patterns ; Trade Policy ; Welfare Gains ; World Trade ; World Trade Organization
    Abstract: November 1999 - If the United States grants Vietnam most favored nation status, both countries would benefit. Vietnamese exports to the United States would more than double, and Vietnam would gain substantial welfare benefits from improved market access and increased availability of imports. For the United States, lowering the current high tariffs against Vietnam would improve welfare by reducing costly diversion away from Vietnamese products. Since the U.S. embargo on trade with Vietnam was lifted in 1994, exports from Vietnam to the United States have risen dramatically. However, Vietnam remains one of the few countries to which the United States has not yet granted most favored nation (MFN) status. The general tariff rates that the United States imposes average 35 percent compared with 4.9 percent for the MFN rate. Granting MFN status to Vietnam would improve its terms of trade and help improve the efficiency of resource allocation in the country. Better access to the U.S. market would increase the volume of Vietnamese exports to the United States and the prices received for them while also reducing their costs to U.S. users. Fukase and Martin use a computable general equilibrium model to examine the effects of reducing U.S. tariffs on Vietnamese imports from general rates to MFN rates. They estimate tariff changes using the U.S. tariff schedule for 1997 weighted by Vietnam's exports to the United States. The results suggest that after a change to MFN status for Vietnam, its exports to the United States would more than double, from the 1996 baseline of
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  • 55
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (32 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Schiff, Maurice Labor Market Integration in the Presence of Social Capital
    Keywords: Bonds ; Capital ; Cred Economic Performance ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Equilibrium ; Finance and Financial Sector Development ; Financial Literacy ; Free Trade ; Goods ; Health, Nutrition and Population ; Human Capital ; Labor Markets ; Labor Policies ; Liquidity ; Macroeconomics and Economic Growth ; Markets and Market Access ; Negative Externalities ; Population Policies ; Private Sector Development ; Production Function ; Production Functions ; Public Good ; Social Capital ; Social Development ; Social Protections and Labor ; Trade Barriers ; Transactions Costs ; Transport ; Transport Economics, Policy and Planning ; Unemployment ; Utility ; Utility Function ; Voters ; Welfare ; Bonds ; Capital ; Cred Economic Performance ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Equilibrium ; Finance and Financial Sector Development ; Financial Literacy ; Free Trade ; Goods ; Health, Nutrition and Population ; Human Capital ; Labor Markets ; Labor Policies ; Liquidity ; Macroeconomics and Economic Growth ; Markets and Market Access ; Negative Externalities ; Population Policies ; Private Sector Development ; Production Function ; Production Functions ; Public Good ; Social Capital ; Social Development ; Social Protections and Labor ; Trade Barriers ; Transactions Costs ; Transport ; Transport Economics, Policy and Planning ; Unemployment ; Utility ; Utility Function ; Voters ; Welfare
    Abstract: November 1999 - Social capital raises productivity and falls with labor mobility. Because labor mobility generates a negative externality, integration of labor markets results in too much mobility, too low a level of social capital, and an ambiguous effect on welfare. Trade liberalization is superior to labor market integration because it reduces mobility and the negative externality associated with it. Labor market integration is typically assumed to improve welfare in the absence of distortions, because it allows labor to move to where returns are highest. Schiff examines this result in a simple general equilibrium model in the presence of a common property resource: social capital. Drawing on evidence that social capital raises productivity and falls with labor mobility, Schiff's main findings are that: · Labor market integration imposes a negative externality and need not raise welfare. · The welfare impact is more beneficial (or less harmful) the greater the difference in endowments is between the integrating regions. · Whether positive or negative, the welfare impact is larger the more similar the levels of social capital of the integrating regions are and the lower the migration costs are. · Trade liberalization generates an additional benefit-over and above the standard gains from trade - by reducing labor mobility and the negative externality associated with it. Trade liberalization is superior to labor market integration. · The creation of new private or public institutions in response to labor market integration may reduce welfare. Schiff shows that the welfare implications depend on two parameters of the model, the curvature of the utility function and the cost of private migration. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to understand the link between market performance and welfare. The author may be contacted at mschiffworldbank.org
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  • 56
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (38 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Kraay, Aart Growth Forecasts Using Time Series and Growth Models
    Keywords: Actual Outcomes ; Country Variation ; Cross-Country Growth Regressions ; Economic Forecasting ; Explanatory Variables ; First-Order ; Forecast ; Forecast Performance ; Forecasting ; Future Growth ; Growth Forecasts ; Growth Models ; Growth Projections ; Growth Regression ; Macroeconomics and Economic Growth ; Popular Empirical Framework ; Relative Forecast Performance ; Sample Forecasting ; Time Series ; Time Series Model ; Time Series Models ; Time Series Variation ; Actual Outcomes ; Country Variation ; Cross-Country Growth Regressions ; Economic Forecasting ; Explanatory Variables ; First-Order ; Forecast ; Forecast Performance ; Forecasting ; Future Growth ; Growth Forecasts ; Growth Models ; Growth Projections ; Growth Regression ; Macroeconomics and Economic Growth ; Popular Empirical Framework ; Relative Forecast Performance ; Sample Forecasting ; Time Series ; Time Series Model ; Time Series Models ; Time Series Variation
    Abstract: November 1999 - It is difficult to choose the best model for forecasting real per capita GDP for a particular country or group of countries. This study suggests potential gains from combining time series and growth-regression-based approaches to forecasting. Kraay and Monokroussos consider two alternative methods of forecasting real per capita GDP at various horizons: · Univariate time series models estimated country by country. · Cross-country growth regressions. They evaluate the out-of-sample forecasting performance of both approaches for a large sample of industrial and developing countries. They find only modest differences between the two approaches. In almost all cases, differences in median (across countries) forecast performance are small relative to the large discrepancies between forecasts and actual outcomes. Interestingly, the performance of both models is similar to that of forecasts generated by the World Bank's Unified Survey. The results do not provide a compelling case for one approach over another, but they do indicate that there are potential gains from combining time series and growth-regression-based forecasting approaches. This paper - a product of Macroeconomics and Growth, Development Research Group - is part of a larger effort in the group to improve the understanding of economic growth. The authors may be contacted at akraayworldbank.org or gmonokroussos@worldbank.org
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  • 57
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (40 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Honohan, Patrick Fiscal Contingency Planning for Banking Crises
    Keywords: Accounting ; Balance Sheet ; Banking Crises ; Banks and Banking Reform ; Budget ; Contingency Planning ; Conversion ; Debt Markets ; Depositors ; Emerging Markets ; Expenditure ; Expenditures ; Finance and Financial Sector Development ; Financial Instruments ; Financial Literacy ; Fiscal Authorities ; Fiscal Policy ; Future ; Liabilities ; Liability ; Monetary Authorities ; Moral Hazard ; Private Sector Development ; Revenue ; Tax ; Tax Rates ; Accounting ; Balance Sheet ; Banking Crises ; Banks and Banking Reform ; Budget ; Contingency Planning ; Conversion ; Debt Markets ; Depositors ; Emerging Markets ; Expenditure ; Expenditures ; Finance and Financial Sector Development ; Financial Instruments ; Financial Literacy ; Fiscal Authorities ; Fiscal Policy ; Future ; Liabilities ; Liability ; Monetary Authorities ; Moral Hazard ; Private Sector Development ; Revenue ; Tax ; Tax Rates
    Abstract: November 1999 - Estimating the likely fiscal costs of future banking crises requires information about the size and composition of the banks' balance sheets and expert assessments about the accuracy of the accounting data and about certain short-term risks. There is constant demand for an estimate of the likely fiscal costs of future banking crises, but little precision can be expected in such an estimate. Honohan shows how information that is typically available to authorities could be used to get a general sense of the order of magnitude of the direct fiscal liability. What is required for such an estimate? · Information about the size and composition of the banks' balance sheets. · Expert assessments of the accuracy of the accounting data and of specific short-term risks to which the components are known to be subject. Honohan's method distinguishes between losses that have already crystallized and the changing risks for the immediate future. By including contingency planning for banking collapse in their fiscal calculations, authorities may risk destabilizing expectations or worsening the moral hazard in the system. But the risks of contingency planning generally outweigh the risks of sending confused signals. Insisting on ignorance is a poor way to protect against announcement errors that trigger panic. This paper - a product of Finance, Development Research Group - was produced for the Poverty Reduction and Economic Management Network thematic group studying the quality of fiscal adjustment. The author may be contacted at phonohanworldbank.org
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  • 58
    Language: English
    Pages: Online-Ressource (1 online resource (48 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Soloaga, Isidro What's Behind Mercosur's Common External Tariff?
    Keywords: Currencies and Exchange Rates ; Debt Markets ; Domestic Market ; Economic Policy ; Economic Theory and Research ; Emerging Markets ; External Tariff ; Finance and Financial Sector Development ; Free Trade ; International Economics & Trade ; International Market ; International Markets ; International Prices ; International Trade ; International Trade and Trade Rules ; Macroeconomics and Economic Growth ; Markets and Market Access ; Multilateral System ; Political Economy ; Private Sector Development ; Public Sector Development ; Regionalism ; Share Of World Exports ; Tariff Data ; Tariff Levels ; Tariff Structures ; Tariffs ; Terms Of Trade ; Trade ; Trade Effects ; Trade Externalities ; Trade Policy ; Trade Policy ; World Prices ; Currencies and Exchange Rates ; Debt Markets ; Domestic Market ; Economic Policy ; Economic Theory and Research ; Emerging Markets ; External Tariff ; Finance and Financial Sector Development ; Free Trade ; International Economics & Trade ; International Market ; International Markets ; International Prices ; International Trade ; International Trade and Trade Rules ; Macroeconomics and Economic Growth ; Markets and Market Access ; Multilateral System ; Political Economy ; Private Sector Development ; Public Sector Development ; Regionalism ; Share Of World Exports ; Tariff Data ; Tariff Levels ; Tariff Structures ; Tariffs ; Terms Of Trade ; Trade ; Trade Effects ; Trade Externalities ; Trade Policy ; Trade Policy ; World Prices
    Abstract: Most researchers focus on the political economy (interest group pressures) approach to analyzing why customs unions are formed, but terms-of-trade effects were also important in formation of the Common Market of the Southern Cone (Mercosur). Terms-of-trade externalities among Mercosur's members have been internalized in the common external tariff. - The theoretical literature on trade follows two different approaches to explaining the endogenous formation of customs unions: (1) The terms-of-trade approach, in which integrating partners are willing to exploit terms-of-trade effects. Using the terms-of-trade approach, one concludes that tariffs on imports from the rest of the world should increase after the formation of a regional bloc, because the market power of the region increases and terms-of-trade externalities can be internalized in the custom union's common external tariff. As the union forms, the domestic market gets larger and members' international market power increases. (2) The interest group pressures (political economy) approach, in which, for example, the customs union may offer the potential for exchanging markets or protection within the enlarged market. Using this approach, one would usually conclude that tariffs for the rest of the world decline after the custom union's formation - a rationale related to free-rider effects in larger lobbying groups. It is important to recognize the forces behind the formation of customs unions. Most researchers have focused on the second approach and neglected terms of trade as a possible explanatory variable. Both rationales explain a significant share of tariff information. Results, write Olarreaga, Soloaga, and Winters, suggest that both forces were important in formation of the Common Market of the Southern Cone (Mercosur). Terms-of-trade effects account for between 6 percent and 28 percent of the explained variation in the structure of protection. There is also evidence that the terms-of-trade externalities among Mercosur's members have been internalized in the common external tariff. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to understand the political economy of trade protection. Marcelo Olarreaga may be contacted at molarreagaworldbank.org
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  • 59
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (28 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Lall, Somik Valuing Water for Chinese Industries
    Keywords: Economic Theory and Research ; Energy ; Energy Production and Transportation ; Environment ; Environmental Economics and Policies ; Groundwater ; Industrial Sector ; Industrial Use ; Industrial Water ; Industrial Water Demand ; Industrial Water Use ; Industry ; Industry ; Infrastructure Economics and Finance ; Infrastructure Regulation ; Macroeconomics and Economic Growth ; Municipal Wastewater ; Pollution ; Production Process ; Research ; River Basins ; Rivers ; Town Water Supply and Sanitation ; Water ; Water Conservation ; Water Conservation ; Water Recycling ; Water Resources ; Water Shortage ; Water Shortages ; Water Supply ; Water Supply and Sanitation ; Water Supply and Sanitation Governance and Institutions ; Water Supply and Systems ; Water Treatment ; Water Use ; Water and Industry ; Economic Theory and Research ; Energy ; Energy Production and Transportation ; Environment ; Environmental Economics and Policies ; Groundwater ; Industrial Sector ; Industrial Use ; Industrial Water ; Industrial Water Demand ; Industrial Water Use ; Industry ; Industry ; Infrastructure Economics and Finance ; Infrastructure Regulation ; Macroeconomics and Economic Growth ; Municipal Wastewater ; Pollution ; Production Process ; Research ; River Basins ; Rivers ; Town Water Supply and Sanitation ; Water ; Water Conservation ; Water Conservation ; Water Recycling ; Water Resources ; Water Shortage ; Water Shortages ; Water Supply ; Water Supply and Sanitation ; Water Supply and Sanitation Governance and Institutions ; Water Supply and Systems ; Water Treatment ; Water Use ; Water and Industry
    Abstract: The marginal productivity of water used for industry varies among sectors in China, but there is great potential for the Chinese government to save water by raising water prices to industry, to encourage water conservation. - Using plant-level data on more than 1,000 Chinese industrial plants, Wang and Lall estimate a production function treating capital, labor, water, and raw material as inputs to industrial production. They then estimate the marginal productivity of water based on the estimated production function. Using the marginal productivity approach to valuing water for industrial use, they also derive a model and estimates for the price elasticity of water use by Chinese industries. Previous studies used water demand functions and total cost functions to estimate firms' willingness to pay for water use. They find that the marginal productivity of water varies among sectors in China, with an industry average of 2.5 yuan per cubic meter of water. The average price elasticity of industrial water demand is about -1.0, suggesting a great potential for the Chinese government to use pricing policies to encourage water conservation in the industrial sector. Increasing water prices would reduce water use substantially. This paper - a product of Infrastructure and Environment, Development Research Group - is part of a larger effort in the group to understand the economics of industrial pollution control in developing countries
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  • 60
    Language: English
    Pages: Online-Ressource (1 online resource (22 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Byamugisha, K.F. Frank The Effects of Land Registration on Financial Development and Economic Growth
    Keywords: Bank Policy ; Collateral ; Common Property Resource Development ; Communities & Human Settlements ; Contracts ; Debt Markets ; Depos Deposit Mobilization ; Economic Development ; Economic Theory and Research ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Financial Development ; Financial Literacy ; Investment ; Labor Policies ; Land Title ; Land Titling ; Land Use and Policies ; Land and Real Estate Development ; Liquidity ; Macroeconomics and Economic Growth ; Markets ; Municipal Housing and Land ; Poverty Reduction ; Private Property ; Private Sector Development ; Property Rights ; Rural Development ; Rural Land Policies for Poverty Reduction ; Security ; Seizure ; Social Protections and Labor ; Transaction ; Transaction Costs ; Transactions ; Bank Policy ; Collateral ; Common Property Resource Development ; Communities & Human Settlements ; Contracts ; Debt Markets ; Depos Deposit Mobilization ; Economic Development ; Economic Theory and Research ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Financial Development ; Financial Literacy ; Investment ; Labor Policies ; Land Title ; Land Titling ; Land Use and Policies ; Land and Real Estate Development ; Liquidity ; Macroeconomics and Economic Growth ; Markets ; Municipal Housing and Land ; Poverty Reduction ; Private Property ; Private Sector Development ; Property Rights ; Rural Development ; Rural Land Policies for Poverty Reduction ; Security ; Seizure ; Social Protections and Labor ; Transaction ; Transaction Costs ; Transactions
    Abstract: November 1999 - A theoretical framework to guide empirical analysis of how land registration affects financial development and economic growth. The author develops a theoretical framework to guide empirical analysis of how land registration affects financial development and economic growth. Most conceptual approaches investigate the effects of land registration on only one sector, nut land registration is commonly observed to affect not only other sectors but the economy as a whole The author builds on the well-tested link between secure land ownership and farm productivity, adding to the framework theory about positive information and transaction costs. To map the relationship between land registration and financial development and economic growth, the framework links: -Land tenure security and investment incentives. -Land title, collateral, and credit. -Land markets, transactions, and efficiency. -Labor mobility and efficiency. -Land liquidity, deposit mobilization, and investment. Empirical results from applying the framework to a single case study - of Thailand, described in a separate paper - suggest that the framework is sound. This paper - a product of the Rural Development and Natural Resources Sector Unit, East Asia and Pacific Region - is part of a larger effort in the region to increase the effectiveness of country assistance strategies in the area of property rights and economic development
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  • 61
    Language: English
    Pages: Online-Ressource (1 online resource (70 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Milanovic, Branko True World Income Distribution, 1988 and 1993
    Keywords: Consumption ; Economic Theory ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Growth Models ; Health Systems Development and Reform ; Health, Nutrition and Population ; Household Income ; Household Surveys ; Income ; Income ; Income Differences ; Income Distribution ; Income Distribution Data ; Income Inequality ; Increasing Inequality ; Inequality ; Inequality ; Macroeconomics ; Macroeconomics and Economic Growth ; Mean Incomes ; Median Voter ; Median Voter Hypothesis ; Personal Income ; Political Economy ; Poverty Diagnostics ; Poverty Impact Evaluation ; Poverty Reduction ; Power Parity ; Private Sector Development ; Rising Inequality ; Rural Development ; Rural Poverty Reduction ; Services and Transfers to Poor ; Social Protections and Labor ; Consumption ; Economic Theory ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Growth Models ; Health Systems Development and Reform ; Health, Nutrition and Population ; Household Income ; Household Surveys ; Income ; Income ; Income Differences ; Income Distribution ; Income Distribution Data ; Income Inequality ; Increasing Inequality ; Inequality ; Inequality ; Macroeconomics ; Macroeconomics and Economic Growth ; Mean Incomes ; Median Voter ; Median Voter Hypothesis ; Personal Income ; Political Economy ; Poverty Diagnostics ; Poverty Impact Evaluation ; Poverty Reduction ; Power Parity ; Private Sector Development ; Rising Inequality ; Rural Development ; Rural Poverty Reduction ; Services and Transfers to Poor ; Social Protections and Labor
    Abstract: Inequality in world income is very high, according to household surveys, more because of differences between mean country incomes than because of inequality within countries. World inequality increased between 1988 and 1993, driven by slower growth in rural per capita incomes in populous Asian countries (Bangladesh, China, and India) than in large, rich OECD countries, and by increasing income differences between urban China on the one hand and rural China and rural India on the other. - Milanovic derives the distribution of individuals' income or expenditures for two years, 1988 and 1993. His is the first paper to calculate world distribution for individuals based entirely on data from household surveys. The data, from 91 countries, are adjusted for differences in purchasing power parity between the countries. Measured by the Gini index, inequality increased from an already high 63 in 1988 to 66 in 1993. This increase was driven more by rising differences in mean incomes between countries than by rising inequalities within countries. Contributing most to the inequality were rising urban-rural differences in China and the slower growth of rural purchasing-power-adjusted incomes in South Asia than in several large developed market economies. This paper - a product of Poverty and Human Resources, Development Research Group - is part of a larger effort in the group to study inequality and poverty in the world. Also published in The Economic Journal, January 2002 pp. 51-92 The author may be contacted at bmilanovicworldbank.org
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  • 62
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (30 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Cohen, Daniel Will the Euro Create a Bonanza for Africa?
    Keywords: Banking System ; Banks and Banking Reform ; Capital Flows ; Country Risk ; Currencies and Exchange Rates ; Debt ; Debt Markets ; Domestic Capital ; Domestic Capital Markets ; Economic Theory and Research ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Foreign Debt ; Foreign Direct Investment ; Foreign Direct Investments ; Global Markets ; Interest ; Interest Rate ; International Capital ; International Capital Markets ; Macroeconomics and Economic Growth ; Market ; Portfolio ; Portfolio Diversification ; Private Sector Development ; Real Exchange Rate ; Reserve ; Banking System ; Banks and Banking Reform ; Capital Flows ; Country Risk ; Currencies and Exchange Rates ; Debt ; Debt Markets ; Domestic Capital ; Domestic Capital Markets ; Economic Theory and Research ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Foreign Debt ; Foreign Direct Investment ; Foreign Direct Investments ; Global Markets ; Interest ; Interest Rate ; International Capital ; International Capital Markets ; Macroeconomics and Economic Growth ; Market ; Portfolio ; Portfolio Diversification ; Private Sector Development ; Real Exchange Rate ; Reserve
    Abstract: At this stage, it is difficult to conclude that the euro will have substantial macroeconomic impact on sub-Saharan Africa, unless launch of the euro becomes the tool of a major policy shift, such as the euroization of the continent - which is currently unlikely. - In considering how the euro will affect Sub-Saharan Africa, Cohen, Kristensen, and Verner examine the transmission channels through which the euro could affect economies in the region. They examine the risks and opportunities the euro presents for Sub-Saharan African countries. They especially examine the effects from the trade channel, through changes in European economic activity and the real exchange rate. Because of the relatively low income elasticity for primary commodities - which is what Sub-Saharan Africa mainly exports - an increase in activity in Europe is considered to have a marginal impact on Africa. Exchange rate regimes and geographical trade patterns point to large differences in exposure to changes in the real exchange rate. Capital flows to Sub-Saharan Africa can be affected through portfolio shifts or through changes in foreign direct investment. Changes in competitiveness in Europe are not expected to influence foreign direct investment, so the euro is not expected to affect foreign direct investment significantly. Portfolio diversification could increase greatly. But Sub-Saharan Africa is not expected to realize the increased potential from portfolio diversification because of its severely underdeveloped domestic capital markets. It is vitally important that Sub-Saharan African countries strengthen their financial integration into global markets. How the euro will affect such parts of the financial system as banks and debt and reserve management varies across countries. Generally the effect is expected to be limited. This paper - a product of Poverty Reduction and Economic Management Sector Unit, Latin America and the Caribbean Region - is part of a larger effort in the Bank to study the effect of the euro on developing countries. The authors may be contacted at nkristensenworldbank.org or dverner@worldbank.org
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  • 63
    Language: English
    Pages: Online-Ressource (1 online resource (30 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Budina, Nina Liquidity Constraints and Investment in Transition Economies
    Keywords: Banks and Banking Reform ; Budget ; Budget Constraints ; Capital Markets ; Cash Flow ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Crisis ; Financial Institutions ; Financial Intermediation ; Financial Literacy ; Financial Market ; Financial Structure ; Financial System ; Financial Weakness ; Investment ; Investment Function ; Investment Projects ; Liquidity ; Liquidity Constraints ; Macroeconomics and Economic Growth ; Market ; Market Economies ; Market Economy ; Private Sector Development ; Transition Economies ; Banks and Banking Reform ; Budget ; Budget Constraints ; Capital Markets ; Cash Flow ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Crisis ; Financial Institutions ; Financial Intermediation ; Financial Literacy ; Financial Market ; Financial Structure ; Financial System ; Financial Weakness ; Investment ; Investment Function ; Investment Projects ; Liquidity ; Liquidity Constraints ; Macroeconomics and Economic Growth ; Market ; Market Economies ; Market Economy ; Private Sector Development ; Transition Economies
    Abstract: January 2000 - In Bulgaria and other transition economies, liquidity constraints and hence access to external funds must be seen in the context of soft budget constraints and the financial system's failure to enforce the efficient allocation of funds. Liquidity constraints in Bulgaria may be seen as a sign of financial weakness. Budina, Garretsen, and de Jong use firm level data on Bulgaria to investigate the impact of liquidity constraints on firms' investment performance. Internal funds are an important determinant of investment in most industrial economies. The authors use a simple accelerator model of investment to test whether liquidity constraints are relevant in Bulgaria's case. Their estimates are based on data for 1993-95, before Bulgaria's financial crisis of 1996-97. It turns out that Bulgarian firms are liquidity-constrained and that firms' size and financial structure help to distinguish between firms that are more and less liquidity-constrained. In the authors' view, liquidity constraints in transition economies should be interpreted in different ways than those in industrial economies. In Bulgaria, liquidity constraints and hence access to external funds should be seen in the context of soft budget constraints and the financial system's failure to enforce the efficient allocation of funds. The relationship between liquidity constraints and firm characteristics may actually be the opposite of what is normally the case in industrial countries. In Bulgaria, lack of liquidity constraints may be a sign of financial weakness. This paper - a product of Macroeconomics and Growth, Development Research Group - is part of a larger effort in the group to study transition economies. The authors may be contacted at nbudinaworldbank.org, h.garretsen@bw.kun.nl or e.dejong@bw.kun.nl
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  • 64
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (36 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Parry, H.W. Ian Revenue Recycling and the Welfare Effects of Road Pricing
    Keywords: Congestion ; Congestion Reduction ; Costs ; Costs Of Travel ; Externalities ; Fuel ; Fuel Consumption ; Infrastructure ; Policies ; Public Trans Public Transit Subsidies ; Road ; Road Pricing ; Road Traffic ; Tax ; Taxes ; Traffic ; Traffic Congestion ; Transport ; Transport Economics, Policy and Planning ; Vehicle ; Vehicle Miles ; Congestion ; Congestion Reduction ; Costs ; Costs Of Travel ; Externalities ; Fuel ; Fuel Consumption ; Infrastructure ; Policies ; Public Trans Public Transit Subsidies ; Road ; Road Pricing ; Road Traffic ; Tax ; Taxes ; Traffic ; Traffic Congestion ; Transport ; Transport Economics, Policy and Planning ; Vehicle ; Vehicle Miles
    Abstract: December 1999 - The presence of preexisting tax distortions, and the form of revenue recycling, can crucially affect the size - and possibly even the sign - of the welfare effect of road pricing schemes. The efficiency gains from recycling congestion tax revenues in other tax reductions can amount to several times the Pigouvian welfare gains from congestion reduction. Parry and Bento explore the interactions between taxes on work-related traffic congestion and preexisting distortionary taxes in the labor market. A congestion tax raises the overall costs of commuting to work and discourages labor force participation at the margin when revenues are returned in lump-sum transfers. The resulting efficiency loss in the labor market can be larger than the Pigouvian efficiency gains from internalizing the congestion externality. By contrast, if congestion tax revenues are used to reduce labor taxes, the net impact on the labor supply is positive and the efficiency gain in the labor market can raise the overall welfare gains of the congestion tax by as much as 100 percent. Recycling congestion tax revenues in public transit subsidies produces a positive, but smaller, impact on the labor supply. In short, Parry and Bento's results indicate that the presence of preexisting tax distortions, and the form of revenue recycling, can crucially affect the size - and possibly even the sign - of the welfare effect of road pricing schemes. The efficiency gains from recycling congestion tax revenues in other tax reductions can amount to several times the Pigouvian welfare gains from congestion reduction. This paper - a product of Infrastructure and Environment, Development Research Group - is part of a larger effort in the group to study the cost-effectiveness of alternative transport policies. The study was funded by the Bank's Research Support Budget under the research project The Cost-Effectiveness of Alternative Transport Policies (RPO 683-39). Copies of this paper are available free. Please contact Roula Yazigi, email address ryazigiworldbank.org. The authors may be contacted at parry@rff.org or abento@worldbank.org
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  • 65
    Language: English
    Pages: Online-Ressource (1 online resource (32 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Reinikka, Ritva How Inadequate Provision of Public Infrastructure and Services Affects Private Investment
    Keywords: Bottlenecks ; Capital Stock ; Debt Markets ; Emerging Markets ; Employment ; Equipment ; Finance ; Finance and Financial Sector Development ; IRU ; Infrastructure ; Interest ; Interest Rates ; International Economics & Trade ; Investment ; Investment Rate ; Investment Rates ; Investment and Investment Climate ; Labor Policies ; M1 ; Macroeconomics and Economic Growth ; Non Bank Financial Institutions ; Prices ; Private Sector Development ; Prof Standard Errors ; Roads and Highways ; Social Protections and Labor ; Statistics ; Tax ; Taxes ; Trade and Regional Integration ; Transport ; Vdu ; Bottlenecks ; Capital Stock ; Debt Markets ; Emerging Markets ; Employment ; Equipment ; Finance ; Finance and Financial Sector Development ; IRU ; Infrastructure ; Interest ; Interest Rates ; International Economics & Trade ; Investment ; Investment Rate ; Investment Rates ; Investment and Investment Climate ; Labor Policies ; M1 ; Macroeconomics and Economic Growth ; Non Bank Financial Institutions ; Prices ; Private Sector Development ; Prof Standard Errors ; Roads and Highways ; Social Protections and Labor ; Statistics ; Tax ; Taxes ; Trade and Regional Integration ; Transport ; Vdu
    Abstract: Evidence from Uganda shows that poor public provision of infrastructure services - proxied by an unreliable and inadequate power supply - significantly reduces productive private investment. - Lack of private investment is a serious policy problem in many developing countries, especially in Africa. Despite recent structural reform and stabilization, the investment response to date has been mixed, even among the strongest reformers. The role of poor infrastructure and deficient public services has received little attention in the economic literature, where the effect of public spending and investment on growth is shown to be at best ambiguous. Reinikka and Svensson use unique microeconomic evidence to show the effects of poor infrastructure services on private investment in Uganda. They find that poor public capital, proxied by an unreliable and inadequate power supply, significantly reduces productive private investment. Firms can substitute for inadequate provision of public capital by investing in it themselves. This comes at a cost, however: the installation of less productive capital. These results have clear policy implications. Although macroeconomic reforms and stabilization are necessary conditions for sustained growth and private investment, without an accompanying improvement in the public sector's performance, the private supply response to macroeconomic policy reform is likely to remain limited. This paper - a product of Public Economics and Macroeconomics and Growth, Development Research Group - is part of a larger effort in the group to study public service delivery and economic growth. The authors may be contacted at rreinikkaworldbank.org or jsvensson@worldbank.org
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  • 66
    Language: English
    Pages: Online-Ressource (1 online resource (50 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Xu, Lixin Surveying Surveys and Questioning Questions
    Keywords: Accounting ; Bankruptcy ; Banks and Banking Reform ; Capital Stock ; Corporate Governance ; Debt Markets ; Developing Countries ; E-Business ; Economic Theory and Research ; Emerging Markets ; Entry Barriers ; Finance and Financial Sector Development ; Financial Literacy ; Firm Performance ; Future ; Goods ; Human Capital ; ICT Policy and Strategies ; Information and Communication Technologies ; Investment ; Labor Policies ; Macroeconomics and Economic Growth ; Market ; Market Environment ; Market Structure ; Micro Data ; Microfinance ; Political Economy ; Private Sector Development ; Share ; Social Protections and Labor ; Stock ; Transaction ; Transition Countries ; Transition Economies ; Accounting ; Bankruptcy ; Banks and Banking Reform ; Capital Stock ; Corporate Governance ; Debt Markets ; Developing Countries ; E-Business ; Economic Theory and Research ; Emerging Markets ; Entry Barriers ; Finance and Financial Sector Development ; Financial Literacy ; Firm Performance ; Future ; Goods ; Human Capital ; ICT Policy and Strategies ; Information and Communication Technologies ; Investment ; Labor Policies ; Macroeconomics and Economic Growth ; Market ; Market Environment ; Market Structure ; Micro Data ; Microfinance ; Political Economy ; Private Sector Development ; Share ; Social Protections and Labor ; Stock ; Transaction ; Transition Countries ; Transition Economies
    Abstract: March 2000 - How to make firm-level surveys more consistent, yielding data more relevant to policy analysis. The World Bank has increasingly focused on firm-level surveys to build the data foundation needed for accurate policy analysis in developing and transition economies. Recanatini, Wallsten, and Xu take stock of some recent Bank surveys and discuss how to improve their results. Lessons on data issues and hypothesis testing: · Use panel data, if possible. · Have enough information about productivity to estimate a production function. · Avoid the paradigm of list the severity of the obstacle/problem on a scale of 1 to 5. Instead, ask for data on specific dimensions of the problem that will shed light on alternative hypotheses and policy recommendations. · Pick particular disaggregated industries and sample those industries in each survey. · Identify the most important policy interventions of interest and consider how you will empirically identify specific changes by picking instruments useful for doing so. Lessons on questionnaire design: · Incorporate only one idea or dimension in each question. Do not ask, in one question, about the quality, integrity, and efficiency of services, for example. · Consider the costs and benefits of numeric scales compared with adjectival scales. Scales in which each point is labeled may be more precise than numeric scales in which only the endpoints are labeled. But responses are very sensitive to the exact adjective chosen and it may be impossible to translate adjectives precisely across languages, making it impossible to compare responses across countries. · Recognize that the share of respondents expressing opinions will be biased upward if the survey does not include a middle (indifferent or don't know) category and downward if it does include the middle category. · When asking degree-of-concern and how-great-an-obstacle questions, consider first asking a filter question (such as Do you believe this regulation is an obstacle or not?). If the answer is yes, then ask how severe the obstacle is. · Be aware of the effects of context. The act of asking questions can affect the answers given on subsequent, related questions. · Think carefully about how to ask sensitive questions. Consider using a self-administered module for sensitive questions. Alternatively, a randomized response mechanism may be a useful, truth-revealing mechanism. This paper - a product of Regulation and Competition Policy, Development Research Group - is part of a larger effort in the group to develop consistent cross-country firm level surveys. The authors may be contacted at frecanatiniworldbank.org, wallsten@leland.stanford.edu, or lxu1@worldbank.org
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  • 67
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (72 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Alcázar, Lorena The Buenos Aires Water Concession
    Keywords: Debt Markets ; Decision Making ; Economics ; Emerging Markets ; Environment ; Environmental Economics and Policies ; Finance and Financial Sector Development ; Financial Literacy ; Incentives ; Income ; Industry ; Information ; Information Asymmetries ; Infrastructure Economics ; Infrastructure Economics and Finance ; Interest ; Investment ; Marginal Cost ; Outcomes ; Perverse Incentives ; Prices ; Private Sector Development ; Productivity ; Regulation ; Revenues ; Supply ; Taking ; Tariffs ; Town Water Supply and Sanitation ; Urban Water Supply and Sanitation ; Water ; Water Conservation ; Water Resources ; Water Supply and Sanitation ; Water Supply and Sanitation Governance and Institutions ; Water and Industry ; Welfare Effects ; Debt Markets ; Decision Making ; Economics ; Emerging Markets ; Environment ; Environmental Economics and Policies ; Finance and Financial Sector Development ; Financial Literacy ; Incentives ; Income ; Industry ; Information ; Information Asymmetries ; Infrastructure Economics ; Infrastructure Economics and Finance ; Interest ; Investment ; Marginal Cost ; Outcomes ; Perverse Incentives ; Prices ; Private Sector Development ; Productivity ; Regulation ; Revenues ; Supply ; Taking ; Tariffs ; Town Water Supply and Sanitation ; Urban Water Supply and Sanitation ; Water ; Water Conservation ; Water Resources ; Water Supply and Sanitation ; Water Supply and Sanitation Governance and Institutions ; Water and Industry ; Welfare Effects
    Abstract: April 2000 - Transparent, rule-based decisionmaking is important to maintaining public trust in regulated infrastructure. The Buenos Aires water and sanitation concession led to remarkable improvements in delivery and coverage of services and to lower prices for consumers. But a poor information base, lack of transparency in regulatory decisions, and the ad hoc nature of executive branch interventions make it difficult to reassure consumers that their welfare is being protected and that the concession is sustainable. The signing of a concession contract for the Buenos Aires water and sanitation system in December 1992 attracted worldwide attention and caused considerable controversy in Argentina. It was one of the world's largest concessions, but the case was also interesting for other reasons. The concession was implemented rapidly, in contrast with slow implementation of privatization in Santiago, for example. And reform generated major improvements in the sector, including wider coverage, better service, more efficient company operations, and reduced waste. Moreover, the winning bid brought an immediate 26.9 percent reduction in water system tariffs. Consumers benefited from the system's expansion and from the immediate drop in real prices, which was only partly reversed by subsequent changes in tariffs and access charges. And these improvements would probably not have occurred under public administration of the system. Still, as Alcázar, Abdala, and Shirley show, information asymmetries, perverse incentives, and weak regulatory institutions could threaten the concession's sustainability. Opportunities for the company to act opportunistically - and the regulator, arbitrarily - exist because of politicized regulation, a poor information base, serious flaws in the concession contract, a lumpy and ad hoc tariff system, and a general lack of transparency in the regulatory process. Because of these circumstances, public confidence in the process has eroded. The Buenos Aires concession shows how important transparent, rule-based decisionmaking is to maintaining public trust in regulated infrastructure. This paper - a product of Regulation and Competition Policy, Development Research Group - is part of a larger effort in the group to analyze institutional issues in regulated infrastructure. The study was funded by the Bank's Research Support Budget under the research project Institutions, Politics, and Contracts: Private Sector Participation in Urban Water Supply (RPO 681-87). Mary Shirley may be contacted at mshirleyworldbank.org
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  • 68
    Language: English
    Pages: Online-Ressource (1 online resource (36 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Jadresic, Alejandro Investment in Natural Gas Pipelines in the Southern Cone of Latin America
    Keywords: Coal ; Coal Mines ; Electricity ; Electricity Demand ; Electricity System ; Energy ; Energy ; Energy Consumption ; Energy Markets ; Energy Needs ; Energy Production and Transportation ; Energy and Environment ; Environment ; Environment and Energy Efficiency ; Industry ; Infrastructure Economics and Finance ; Infrastructure Regulation ; Investment ; Investments ; Natural Gas ; Natural Gas Infrastructure ; Natural Gas Pipelines ; Oil ; Oil and Gas Industry ; Pipeline ; Pipeline Projects ; Power ; Power Generation ; Power Generators ; Water Resources ; Water and Industry ; Coal ; Coal Mines ; Electricity ; Electricity Demand ; Electricity System ; Energy ; Energy ; Energy Consumption ; Energy Markets ; Energy Needs ; Energy Production and Transportation ; Energy and Environment ; Environment ; Environment and Energy Efficiency ; Industry ; Infrastructure Economics and Finance ; Infrastructure Regulation ; Investment ; Investments ; Natural Gas ; Natural Gas Infrastructure ; Natural Gas Pipelines ; Oil ; Oil and Gas Industry ; Pipeline ; Pipeline Projects ; Power ; Power Generation ; Power Generators ; Water Resources ; Water and Industry
    Abstract: April 2000 - The natural gas pipelines between Argentina and Chile are large-scale investments in competitive environments. Jadresic, a former minister of energy in Chile, argues that a competitive energy sector and free entry were important policy initiatives to spur the cross-border investments that have benefited Chile's energy sector and environment. Increasing demand for clean energy sources is expanding investment in natural gas infrastructure around the world. Many international projects involve pipelines connecting energy markets in two or more countries. A key feature of investment taking place in Latin America is the convergence of gas and electricity markets. Many projects are being developed to supply gas to new power generation plants needed to meet electricity demand. Construction of a pipeline over the Andes mountains to supply gas from Argentina to energy markets in central Chile was an idea long unfulfilled for political, economic, and technical reasons. Great changes have now taken place in a very short time. Jadresic discusses both the achievements and the challenges to be faced by pipeline developers and Chile's energy sector. He details the benefits of the cooperative effort to consumers in terms of lower energy prices, higher environmental standards, and a more reliable energy system. The experience in Latin America's Southern Cone shows how technological innovation, economic deregulation, and regional integration make it possible to build major international gas pipeline projects within a competitive framework and without direct state involvement. This paper - a product of Private Participation in Infrastructure, Private Sector Advisory Services Department - is part of a larger effort in the department to analyze and disseminate the principles of, and good practice for, promoting competition in infrastructure. The author may be contacted at jadresiccreuna.cl
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  • 69
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (50 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Eskel, S. Gunnar Externalities and Production Efficiency
    Keywords: Commodity Taxes ; Economic Welfare ; Economics ; Efficiency ; Emission Standards ; Emission Tax ; Emissions ; Environment ; Environment ; Environmental ; Environmental Economics and Policies ; Environmental Management ; Environmental Protection ; Externalities ; Macroeconomics and Economic Growth ; Marginal Costs ; Polluters ; Pollution ; Pollution Abatement ; Pollution Management and Control ; Production ; Revenue ; Taxation ; Taxation and Subsidies ; Taxes ; Commodity Taxes ; Economic Welfare ; Economics ; Efficiency ; Emission Standards ; Emission Tax ; Emissions ; Environment ; Environment ; Environmental ; Environmental Economics and Policies ; Environmental Management ; Environmental Protection ; Externalities ; Macroeconomics and Economic Growth ; Marginal Costs ; Polluters ; Pollution ; Pollution Abatement ; Pollution Management and Control ; Production ; Revenue ; Taxation ; Taxation and Subsidies ; Taxes
    Abstract: April 2000 - Environmental improvements should be sought from different polluters (public or private, producer or consumer, rich or poor) at the same cost, regardless of the nature of the polluting activity. Under a plausible structure of monitoring costs, emissions standards play a central role. Eskeland brings together two of government's primary challenges: environmental protection and taxation to generate revenues. If negative externalities can be reduced not only by changes in consumption patterns but also by making each activity cleaner (abatement efforts), how shall inducements to various approaches be combined? If negative externalities are caused by agents as different as consumers, producers, and government, how does optimal policy combine inducements to reduce pollution? Intuitively it seems right to tax emissions neutrally, based on marginal damages - no matter which activity pollutes or whether the polluter is rich or poor, consumer or producer, private or public. Eskeland provides a theoretical basis for such simplicity. Three assumptions are critical to his analysis: · Returns to scale do not influence the traditional problem of revenue generation. · Consumers have equal access to pollution abatement opportunities (but he also relaxes this assumption). · Planners can differentiate policy instruments (emission taxes or abatement standards) by polluting good, and by whether the polluter is a consumer, producer, or government, but they cannot differentiate such instruments (or commodity taxes) by personal characteristics or make them nonlinear in individual emissions. Among Eskeland's findings and conclusions: Abatement efforts and consumption adjustments at all stages are optimally stimulated by a uniform emission tax levied simply where emissions occur. It simplifies things that optimal abatement is independent of whether the car is used by government, firms, or households - for weddings or for work. It also simplifies implementation that the stimulus to abatement at one stage (say, the factory) is independent of whether it yields emission reductions from the factory or from others (say, from car owners who buy the factory's products). Finally, ministers of finance and of the environment should coordinate efforts, but they need not engage in each other's business. The minister of environment need not know which commodities are elastic in demand and thus would bear a low commodity tax. The finance minister need not know which commodities or agents pollute or who pays emission taxes. This paper - a product of Public Economics, Development Research Group - is part of a larger effort in the group to establish principles for public intervention. The author may be contacted at geskelandworldbank.org
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  • 70
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (86 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Peria, Maria The Impact of Banking Crises on Money Demand and Price Stability
    Keywords: Central Banks ; Currencies and Exchange Rates ; Debt Markets ; Demand ; Demand For Money ; Deregulation ; Economic Theory and Research ; Emerging Markets ; Equations ; Exchange ; Exchange Rates ; Finance and Financial Sector Development ; Financial Intermediation ; Financial Literacy ; Fiscal and Monetary Policy ; Government Bonds ; Inflation ; Interest ; Interest Rates ; Labor Policies ; M2 ; Macroeconomics and Economic Growth ; Markets and Market Access ; Monetary Policy ; Money ; Multipliers ; Prices ; Private Sector Development ; Public Sector Development ; Social Protections and Labor ; Stock ; Stock Prices ; T-Bills ; Variables ; Central Banks ; Currencies and Exchange Rates ; Debt Markets ; Demand ; Demand For Money ; Deregulation ; Economic Theory and Research ; Emerging Markets ; Equations ; Exchange ; Exchange Rates ; Finance and Financial Sector Development ; Financial Intermediation ; Financial Literacy ; Fiscal and Monetary Policy ; Government Bonds ; Inflation ; Interest ; Interest Rates ; Labor Policies ; M2 ; Macroeconomics and Economic Growth ; Markets and Market Access ; Monetary Policy ; Money ; Multipliers ; Prices ; Private Sector Development ; Public Sector Development ; Social Protections and Labor ; Stock ; Stock Prices ; T-Bills ; Variables
    Abstract: March 2000 - Policymakers in countries undergoing banking crises should not worry about the structural stability of money demand functions; the behavior of money demand during crises can be modeled by the same function used during periods of tranquility. But policymakers should be aware that in some instances crises can give rise to variance instability in the price or inflation equations. Martinez Peria empirically investigates the monetary impact of banking crises in Chile, Colombia, Denmark, Japan, Kenya, Malaysia, and Uruguay. She uses cointegration analysis and error correction modeling to research: · Whether money demand stability is threatened by banking crises. · Whether crises bring about structural breaks in the relationship between monetary indicators and prices. Overall, she finds no systematic evidence that banking crises cause money demand instability. Nor do the results consistently support the notion that the relationship between monetary indicators and prices undergoes structural breaks during crises. However, although individual coefficients in price equations do not seem to be severely affected by crises, crises can sometimes give rise to variance instability in price or inflation equations. This paper - a product of Finance, Development Research Group - is part of a larger effort in the group to study banking crises. The study was funded by the Bank's Research Support Budget under the research project Monetary Policy and Monetary Indicators during Banking Crises (RPO 683-24). The author may be contacted at mmartinezperiaworldbank.org
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  • 71
    Language: English
    Pages: Online-Ressource (1 online resource (40 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Min, G. Hong How the Republic of Korea's Financial Structure Affects the Volatility of Four Asset Prices
    Keywords: Asset Prices ; Banking Sector ; Banks and Banking Reform ; Capital Flows ; Currencies and Exchange Rates ; Currency ; Currency Crises ; Debt Markets ; Emerging Markets ; Exchange ; Exchange Rate ; Finance ; Finance and Financial Sector Development ; Financial Crisis ; Financial Institutions ; Financial Literacy ; Financial Structure ; Financial System ; Government Bond ; Government Bond Yield ; Macroeconomics and Economic Growth ; Market ; Markets and Market Access ; Monetary Authority ; Monetary Policies ; Money Market ; Money Market Rate ; Private Sector Development ; Stock ; Asset Prices ; Banking Sector ; Banks and Banking Reform ; Capital Flows ; Currencies and Exchange Rates ; Currency ; Currency Crises ; Debt Markets ; Emerging Markets ; Exchange ; Exchange Rate ; Finance ; Finance and Financial Sector Development ; Financial Crisis ; Financial Institutions ; Financial Literacy ; Financial Structure ; Financial System ; Government Bond ; Government Bond Yield ; Macroeconomics and Economic Growth ; Market ; Markets and Market Access ; Monetary Authority ; Monetary Policies ; Money Market ; Money Market Rate ; Private Sector Development ; Stock
    Abstract: April 2000 - How Korea's financial structure affects the volatility of Korea's real effective exchange rate, money market rate, government bond yields, and stock prices. Min and Park explore how Korea's financial structure affects the volatility of asset prices. Documented empirical evidence of the relationship between financial structure and financial crisis sheds light on the relationship between asset price volatility - extreme variations in prices - and financial structure. And the volatility of financial and nonfinancial asset prices provides an indirect link between an economy's financial structure and the likelihood of financial crisis. Using time-series data and a set of indicators measuring financial structure, Min and Park examine how Korea's financial structure affects the volatility of the real effective exchange rate, the money market rate, government bond yields, and stock prices. They find: · There is a stable long-term relationship between financial structure and volatility in the real effective exchange rate, the money market rate, stock prices, and the yield on government housing bonds. · Financial structure affects asset price variables asymmetrically. Some variables' volatility increases and others' diminish, suggesting that monetary policies should target different asset markets to achieve different goals. If the goal of the monetary authority is to stabilize the money market rate, for example, intervening in the banking sector is more efficient than intervening in other financial subsectors. · The higher volatility of stock prices reflects the thin stock market in Korea. · The stability of the yield on government housing bonds reflects the Korean government's policy of stabilizing the nation's housing supply by isolating the housing market from the impact of Korea's financial structure. · Restrictions on foreigners' ownership of domestic stock in Korea during the period analyzed, and the fact that most capital flows through commercial banks, affect the exchange rate, which is determined (at least in the short run) by capital flows in the foreign exchange market. This paper - a product of the Macroeconomic Data Team, Development Data Group - is part of a larger effort in the group to understand the financial structure of developing countries based on empirical data. The authors may be contacted at hmin56aol.com or jpark@worldbank.org
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  • 72
    Language: English
    Pages: Online-Ressource (1 online resource (56 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Honohan, Patrick How Interest Rates Changed under Financial Liberalization
    Keywords: Asset Prices ; Bank Interest Rates ; Bank Lending ; Bank Spreads ; Borrowers ; Currencies and Exchange Rates ; Debt Markets ; Depos Developing Countries ; Developing Country ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Liberalization ; Financial Literacy ; Insurance and Risk Mitigation ; Interest ; Interest Rate ; Interest Rates ; Lending ; Macroeconomic Management ; Macroeconomics and Economic Growth ; Market Interest Rates ; Money Market ; Private Sector Development ; Real Interest ; Real Interest Rates ; Treasury ; Treasury Bill ; Treasury Bill Rates ; Asset Prices ; Bank Interest Rates ; Bank Lending ; Bank Spreads ; Borrowers ; Currencies and Exchange Rates ; Debt Markets ; Depos Developing Countries ; Developing Country ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Liberalization ; Financial Literacy ; Insurance and Risk Mitigation ; Interest ; Interest Rate ; Interest Rates ; Lending ; Macroeconomic Management ; Macroeconomics and Economic Growth ; Market Interest Rates ; Money Market ; Private Sector Development ; Real Interest ; Real Interest Rates ; Treasury ; Treasury Bill ; Treasury Bill Rates
    Abstract: April 2000 - As financial liberalization progressed, the general level of real interest rates increased more in developing countries than it did in industrial countries. Volatility in wholesale interest rates also jumped, often markedly, in most liberalizing countries. Treasury bill rates and bank spreads showed the greatest increase in developing countries, shifting substantial rents from the public sector and from favored borrowers. Financial liberalization was expected to make interest rates and asset prices more volatile, with distributional consequences such as reduced or relocated rents and increased competition in financial services. Honohan examines available data on money market and bank interest rates for evidence of whether these things happened. He shows that as more and more countries liberalized, the level and dynamic behavior of developing-country interest rates converged to industrial-country norms. In the short term, volatility increased in both real and nominal money market interest rates. Treasury bill rates and bank spreads, evidently the most repressed, showed the greatest increase as liberalization progressed - shifting substantial rents from the public sector and from favored borrowers. Whereas quoted bank spreads in industrial countries contracted somewhat in the late 1990s, spreads in developing countries remained much higher, presumably reflecting both market power and the higher risks of lending in the developing world. There was no clear-cut change in mean rates of inflation, monetary depth, or GDP growth. If anything, there was a small average improvement in inflation, but a decline in monetary depth and economic growth, relative to trends in industrial countries. This paper - a product of Finance, Development Research Group - is part of a larger effort in the group to explore optimal policy under financial liberalization. The author may be contacted atphonohanworldbank.org
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  • 73
    Language: English
    Pages: Online-Ressource (1 online resource (28 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Broadman, G. Harry Competition, Corporate Governance, and Regulation in Central Asia
    Keywords: Business Performance ; Competition ; Competition Policy ; Corporate Governance ; Corporate Law ; Corporate Performance ; Debt Markets ; E-Business ; Economic Theory and Research ; Emerging Markets ; Enforcement ; Finance and Financial Sector Development ; Governance ; Investment ; Labor Policies ; Law and Development ; Legal Frameworks ; Macroeconomic Policy ; Macroeconomic Stability ; Macroeconomics and Economic Growth ; Market Economy ; Market Share ; Market Structure ; Markets and Market Access ; Microfinance ; Monopoly ; National Governance ; Output ; Price ; Prices ; Private Sector Development ; Public Sector Corruption and Anticorruption Measures ; Reform Program ; Social Protections and Labor ; Trade ; Trade Associations ; Business Performance ; Competition ; Competition Policy ; Corporate Governance ; Corporate Law ; Corporate Performance ; Debt Markets ; E-Business ; Economic Theory and Research ; Emerging Markets ; Enforcement ; Finance and Financial Sector Development ; Governance ; Investment ; Labor Policies ; Law and Development ; Legal Frameworks ; Macroeconomic Policy ; Macroeconomic Stability ; Macroeconomics and Economic Growth ; Market Economy ; Market Share ; Market Structure ; Markets and Market Access ; Microfinance ; Monopoly ; National Governance ; Output ; Price ; Prices ; Private Sector Development ; Public Sector Corruption and Anticorruption Measures ; Reform Program ; Social Protections and Labor ; Trade ; Trade Associations
    Abstract: May 2000 - Like many Central Asian republics, Uzbekistan has adopted a gradual, cautious approach in its transition to a market economy. It has had some success attaining macroeconomic stability, but microeconomic reforms have lagged behind. It is time to accelerate structural reform. In Uzbekistan state enterprises are being changed into shareholding companies, and private enterprises account for 45 percent of all registered firms. But business decisions to set prices, output, and investment are often not market-based, nor wholly within the purview of businesses, especially those in commercial manufacturing and services. Lines of authority for corporate governance - from state enterprises to private enterprises - are ill-defined, so there is little discipline on corporate performance and little separation between government and business. Nascent frameworks have been created for competition policy (for firms in the commercial sector) and regulatory policy (governing utilities in the infrastructure monopoly sector). But implementation and enforcement have been hampered by old-style instruments (such as price controls) rooted in central planning, by lack of a strong independent regulatory rule-making authority, by the limited understanding of the basic concepts of competition and regulatory reform, and by weak institutional capabilities for analyzing market structure and business performance. Based on fieldwork in Uzbekistan, Broadman recommends: · Deepening senior policy officials' understanding of, and appreciation of the benefits from, enterprise competition and how it affects economic growth. · Reforming competition policy institutions and legal frameworks in line with the country's goal of strengthening structural reforms and improving macroeconomic policy. · Improving the ability of government and associated institutions to assess Uzbekistan's industrial market structure and the determinants of enterprise conduct and performance. · Making the authority responsible for competition and regulatory policymaking into an independent agency - a champion of competition - answerable directly to the prime minister. · Strengthening incentives and institutions for corporate governance and bringing them in line with international practice. · Subjecting infrastructure monopolies to systemic competitive restructuring and unbundling, where appropriate. For other utilities, depoliticize tariff setting and implementation of regulations; ensure that price, output, and investment decisions by service suppliers are procompetitive (creating a level playing field among users); and increase transparency and accountability to the public. This paper - a product of the Poverty Reduction and Economic Management Sector Unit, Europe and Central Asia Regional Office - is part of a larger effort in the region to assess structural reform in Central Asia. The author may be contacted at hbroadmanworldbank.org
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  • 74
    Language: English
    Pages: Online-Ressource (1 online resource (54 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Noel, Michel Building Subnational Debt Markets in Developing and Transition Economies
    Keywords: Agency Problems ; Bond Market Players ; Debt Market ; Debt Markets ; Decentralization ; Domestic Bond ; Domestic Bond Market ; Domestic Debt ; Domestic Debt Markets ; Finance ; Finance and Financial Sector Development ; Financial Sector Development ; Financial Systems ; Markets Development ; Sub-National Bond ; Sub-National Bond Market ; Sub-National Bond Markets ; Sub-National Debt ; Sub-National Debt Market ; Sub-National Debt Market Development ; Sub-National Debt Markets ; Transition Countries ; Agency Problems ; Bond Market Players ; Debt Market ; Debt Markets ; Decentralization ; Domestic Bond ; Domestic Bond Market ; Domestic Debt ; Domestic Debt Markets ; Finance ; Finance and Financial Sector Development ; Financial Sector Development ; Financial Systems ; Markets Development ; Sub-National Bond ; Sub-National Bond Market ; Sub-National Bond Markets ; Sub-National Debt ; Sub-National Debt Market ; Sub-National Debt Market Development ; Sub-National Debt Markets ; Transition Countries
    Abstract: May 2000 - Because of the trend toward decentralization in more than 70 countries where the World Bank is active, subnational entities - states, regions, provinces, counties, and municipalities, and the local utility companies owned by them - are now responsible for delivering services and investing in infrastructure. And infrastructure investments are growing rapidly to meet increasing urban demand. How should the World Bank Group help? Subnational debt markets can be a powerful force in a country's development. Through delegated monitoring by financial intermediaries and through debt placed directly with investors, sub-national debt markets account for about 5 percent of GDP in Argentina and Brazil. But they remain embryonic in most developing and transition economies. To resolve a potential clash between the increased financing needs of subnational entities and the limited development of domestic subnational debt markets, it is critical to support the orderly, efficient emergence of such debt markets. As a framework for policy reform, the following steps (mirroring typical weaknesses) are prerequisites for developing a country's subnational debt market: · Reducing moral hazard. · Improving market transparency. · Strengthening market governance. · Establishing a level playing field. · Developing local capacity for accounting, budgeting, and financial management. In countries where the government shows a clear commitment to market development, says Noel, the IBRD should support the framework needed for policy-based operations that establish hard budget constraints. In doing so, the IBRD should concentrate on (1) supporting national and local capacity building in those areas essential for developing a subnational debt market and (2) financing specific subnational projects with strictly nonrecourse loans. At the same time, the World Bank Group should offer a variety of lending and guarantee instruments that encourage private financing for investments by subnational entities - including, for example, equity participation in (or lines of credit or partial credit guarantees to) financial intermediaries specializing in subnational investment finance or in funds for financing local infrastructure. This paper - a product of the Private and Financial Sectors Development Unit, Europe and Central Asia Region - was prepared as background for a manual on policy issues relating to domestic debt markets. Michel Noel may be contacted at mnoel2worldbank.org
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  • 75
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (48 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Easterly, William The Middle Class Consensus and Economic Development
    Keywords: Class Polarization ; Cross-Country Data ; Cross-Country Differences ; Cross-Country Income ; Development Outcomes ; Development Successes ; Economic Development ; Economic Growth ; Emerging Markets ; Exogenous Country Characteristics ; Human Capital ; Income ; Income Differences ; Inequality ; Inequality ; Macroeconomics and Economic Growth ; Middle Class ; Middle Class Consensus ; Political Community ; Political Economy ; Political Economy ; Political Instability ; Poverty Reduction ; Private Sector Development ; Resource Endowments ; Social Conflict ; Class Polarization ; Cross-Country Data ; Cross-Country Differences ; Cross-Country Income ; Development Outcomes ; Development Successes ; Economic Development ; Economic Growth ; Emerging Markets ; Exogenous Country Characteristics ; Human Capital ; Income ; Income Differences ; Inequality ; Inequality ; Macroeconomics and Economic Growth ; Middle Class ; Middle Class Consensus ; Political Community ; Political Economy ; Political Economy ; Political Instability ; Poverty Reduction ; Private Sector Development ; Resource Endowments ; Social Conflict
    Abstract: May 2000 - A higher share of income for the middle class and lower ethnic polarization are empirically associated with higher income, higher growth, more education, better health, better infrastructure, better economic policies, less political instability, less civil war (putting ethnic minorities at risk), more social modernization, and more democracy. Modern political economy stresses society's polarization as a determinant of development outcomes. Among the most common forms of social conflict are class polarization and ethnic polarization. A middle class consensus is defined as a high share of income for the middle class and a low degree of ethnic polarization. A middle class consensus distinguishes development successes from failures. A theoretical model shows how groups- distinguished by class or ethnicity - will under-invest in human capital and infrastructure when there is leakage to another group. Easterly links the existence of a middle class consensus to exogenous country characteristics such as resource endowments, along the lines of the provocative thesis of Engerman and Sokoloff 1997 that tropical commodity exporters are more unequal than other societies. Easterly confirms this hypothesis with cross-country data. This makes it possible to use resource endowments as instruments for inequality. A higher share of income for the middle class and lower ethnic polarization are empirically associated with higher income, higher growth, more education, better health, better infrastructure, better economic policies, less political instability, less civil war (putting ethnic minorities at risk), more social modernization, and more democracy. This paper - a product of Macroeconomics and Growth, Development Research Group - is part of a larger effort in the group to study the determinants of growth. The author may be contacted at weasterlyworldbank.org
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  • 76
    Language: English
    Pages: Online-Ressource (1 online resource (44 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Mintz, M. Jack Taxing Issues with Privatization
    Keywords: Capital Gains Taxes ; Company Taxes ; Corporate Income Tax ; Corporate Income Taxes ; Debt Markets ; Deductions ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Income Tax ; Investment and Investment Climate ; Law and Development ; Macroeconomics and Economic Growth ; Private Sector Development ; Property Taxes ; Tax ; Tax Base ; Tax Benefits ; Tax Credits ; Tax Incentives ; Tax Law ; Tax Liabilities ; Tax Liability ; Tax Policies ; Tax Policy ; Tax Revenue ; Taxable Income ; Taxation and Subsidies ; Taxes ; Taxpayers ; Capital Gains Taxes ; Company Taxes ; Corporate Income Tax ; Corporate Income Taxes ; Debt Markets ; Deductions ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Income Tax ; Investment and Investment Climate ; Law and Development ; Macroeconomics and Economic Growth ; Private Sector Development ; Property Taxes ; Tax ; Tax Base ; Tax Benefits ; Tax Credits ; Tax Incentives ; Tax Law ; Tax Liabilities ; Tax Liability ; Tax Policies ; Tax Policy ; Tax Revenue ; Taxable Income ; Taxation and Subsidies ; Taxes ; Taxpayers
    Abstract: May 2000 - The literature on privatization has overlooked how the tax status of the company to be privatized will affect the firm's, and the country's, financial transition. Privatization has been a popular strategy for improving efficiency in both market and transition economies. The literature on privatization includes broad discussions of pricing techniques but overlooks tax issues. In reality, a state-owned company loses its privilege of paying no taxes once it is privatized. This change in tax status would certainly complicate the financial transition of a newly privatized company, affect industrywide economic efficiency, and change the revenue pattern of governments. Using Ontario Hydro and the Canadian tax regime as examples, Mintz, Chen, and Zorotheos provide policymakers with a checklist on tax issues under privatization. Their main observations: · The tax status of the company to be privatized must be considered in analyzing the firm's financial transition. · The economic efficiency targeted by privatization may depend partly on the tax regime for a particular industry. · Privatization affects government revenue through the revenue-sharing structure determined by intergovernmental fiscal relationships and cross-border tax arrangements. Time is a factor in tax and transition issues. At the time of privatization, for example, how are assets to be valued for calculating capital gains and cost deductions, for tax purposes? Are the assets transferred to the new owners at fair market value, book value, or at cost, for tax purposes? How should heavy debt loads be treated? Ontario Hydro will not be privatized but it will become taxable. How the taxes will be paid will depend on how the transition is treated. Tax policy will be a key determinant of the industry's future development. This paper - a product of the Governance, Regulation, and Finance Division, World Bank Institute - is part of a larger effort in the institute to increase understanding of infrastructure regulation
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  • 77
    Language: English
    Pages: Online-Ressource (1 online resource (34 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Schiff, Maurice Multilateral Trade Liberalization and Political Disintegration
    Keywords: Andean Pact ; Bloc Welfare ; Customs Union Formation ; Customs Unions ; Economic Dominance ; Economic Theory and Research ; Emerging Markets ; External Tariff ; Free Trade ; Free Trade ; Free Trade Agreements ; Free Trade Area ; International Economics & Trade ; Law and Development ; Macroeconomics and Economic Growth ; Market Size ; Multilateral Liberalization ; Multilateral System ; Multilateral Trade Liberalization ; Open Regionalism ; Preferential Market Access ; Private Sector Development ; Public Sector Development ; Regional Integration ; Regionalism ; Rules of Origin ; Tariffs ; Trade ; Trade Diversion ; Trade Law ; Trade Policy ; Trade and Regional Integration ; Andean Pact ; Bloc Welfare ; Customs Union Formation ; Customs Unions ; Economic Dominance ; Economic Theory and Research ; Emerging Markets ; External Tariff ; Free Trade ; Free Trade ; Free Trade Agreements ; Free Trade Area ; International Economics & Trade ; Law and Development ; Macroeconomics and Economic Growth ; Market Size ; Multilateral Liberalization ; Multilateral System ; Multilateral Trade Liberalization ; Open Regionalism ; Preferential Market Access ; Private Sector Development ; Public Sector Development ; Regional Integration ; Regionalism ; Rules of Origin ; Tariffs ; Trade ; Trade Diversion ; Trade Law ; Trade Policy ; Trade and Regional Integration
    Abstract: May 2000 - Two theories are combined to explain why free trade areas (FTAs) have proliferated more than customs unions (CUs) have, and why FTAs are found more in North-South agreements and CUs in South-South agreements. Schiff combines two theories - one about how multilateral trade liberalization affects regional integration, the other about how it affects political disintegration - to explain why the ratio of free trade areas to customs unions has increased over time, and why it is larger in North-South than in South-South agreements. Ethier (1998, 1999) argues that multilateral trade liberalization led to the recent wave of regional integration arrangements. Alesina and others (1997), in discussing the number and size of countries, argue that multilateral trade liberalization leads to political disintegration, with an increase in the number of countries. Combining the two arguments, Schiff hypothesizes that as multilateral trade liberalization proceeds and the number of regional integration arrangements increases, the ratio of free trade areas to customs unions also increases. The same arguments are also used to show why that ratio is larger in North-South than in South-South agreements. The data, which show that ratio increasing in the 1990s and larger for North-South agreements, are consistent with the hypotheses. Finally, a number of voluntary and involuntary customs unions are examined where weaker members lose and conflict does or does not take place, and where free trade agreements are superior. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to study regional integration. The author may be contacted at mschiffworldbank.org
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  • 78
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (18 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Rebelo, Jorge The São Mateus Jabaquara Trolleybusway Concession in Brazil
    Keywords: Automobile ; Bus ; Bus Lanes ; Bus Operation ; Bus Trips ; Diesel ; Diesel Bus ; Intersections ; Means Of Transport ; Metro Trips ; Passengers ; Road ; Traffic ; Transport ; Transport Activity ; Transport Economics, Policy and Planning ; Trips ; Trolleybuses ; Urban Transport ; Vehicle ; Walking ; Walking Trips ; Automobile ; Bus ; Bus Lanes ; Bus Operation ; Bus Trips ; Diesel ; Diesel Bus ; Intersections ; Means Of Transport ; Metro Trips ; Passengers ; Road ; Traffic ; Transport ; Transport Activity ; Transport Economics, Policy and Planning ; Trips ; Trolleybuses ; Urban Transport ; Vehicle ; Walking ; Walking Trips
    Abstract: May 2000 - To replace a diesel bus busway operated under a management contract by the state with an electric trolley busway, São Paulo State in Brazil designed and implemented a concession to the private sector. According to independent user surveys, service under the concession has been satisfactory. Rebelo and Machado describe how São Paulo State granted a 20-year concession for operating a busway, one requirement for which was that the concessionaire replace the diesel bus operation with electric traction (trolleys). This was not a greenfield concession but is probably the only busway concession undertaken so far worldwide. With roughly 16,000 buses fighting their way through heavy traffic under traffic policies geared to automobiles, bus service was slow and unreliable. Then São Paulo adopted certain practices aimed at improving bus operations. Between 1983 and 1987, it implemented a segregated trolleybus corridor between São Mateus and Jabaquara, to be operated as a private concession regulated by the state of São Paulo. The concession was to operate for 20 years but the winning consortium had to invest in only part of the equipment, because part of it was in place. This made things less risky for the private consortium and allowed the state to complete an environmentally friendly project with the help of the private sector. The concession has so far been a success - an example to be followed. After an initial increase, demand for the busway began to fall in 1998 and 1999. This was part of a general decline in demand for the bus system because of: · A drop in jobs resulting from the economic slowdown. · A growth in the use of automobiles. · Competition from illegal buses (vans), which offer door-to-door service. The state was late in completing the aerial network for the trolleyway and rehabilitating sections of the roadway. This delayed replacement of diesel buses by trolleybuses. State representatives indicated it might be better in future to find a mechanism through which the concessionaire instead of the state would undertake infrastructure works and would also handle administration of integration terminals. This paper - a product of the Finance, Private Sector, and Infrastructure Sector Unit, Latin America and the Caribbean Region - is part of a larger effort in the region to promote private sector operation and investment in transport. Jorge Rebelo may be contacted at jrebeloworldbank.org
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  • 79
    Language: English
    Pages: Online-Ressource (1 online resource (54 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Keefer, Philip Bureaucratic Delegation and Political Institutions
    Keywords: Banks and Banking Reform ; Central Bank ; Central Bank Independence ; Central Banks ; Checks ; Contracts ; Credibility ; Credibility Problem ; Currencies and Exchange Rates ; Debt Markets ; Default ; Discount ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Fixed Investments ; Future ; Futures ; Holding ; ICT Applications ; Inflation ; Inflation Rate ; Information and Communication Technologies ; Macroeconomics and Economic Growth ; Monetary Policy ; Money Supply ; Option ; Political Economy ; Private Sector Development ; Shocks To Income ; Banks and Banking Reform ; Central Bank ; Central Bank Independence ; Central Banks ; Checks ; Contracts ; Credibility ; Credibility Problem ; Currencies and Exchange Rates ; Debt Markets ; Default ; Discount ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Fixed Investments ; Future ; Futures ; Holding ; ICT Applications ; Inflation ; Inflation Rate ; Information and Communication Technologies ; Macroeconomics and Economic Growth ; Monetary Policy ; Money Supply ; Option ; Political Economy ; Private Sector Development ; Shocks To Income
    Abstract: March 2000 - Does delegation of policymaking authority to independent agencies improve policy outcomes? This paper reports new theory and tests related to delegation of monetary policy to an independent central bank. The authors find that delegation reduces inflation only under specific institutional and political conditions. The government's ability to credibly commit to policy announcements is critical to the successful implementation of economic policies as diverse as capital taxation and utilities regulation. One frequently advocated means of signaling credible commitment is to delegate authority to an agency that will not have an incentive to opportunistically change policies once the private sector has taken such steps as signing wage contracts or making irreversible investments. Delegating authority is suggested as a government strategy particularly for monetary policy. And existing work on the independence of central banks generally assumes that government decisions to delegate are irrevocable. But delegation - in monetary policy as elsewhere - is inevitably a political choice, and can be reversed, contend Keefer and Stasavage. They develop a model of monetary policy that relaxes the assumption that monetary delegation is irreversible. Among the testable predictions of the model are these: · The presence of an independent central bank should reduce inflation only in the presence of political checks and balances. This effect should be evident in both developing and industrial countries. · Political actions to interfere with the central bank should be more apparent when there are few checks and balances. · The effects of checks and balances should be more marked when political decisionmakers are more polarized. The authors test these predictions and find extensive empirical evidence to support each of the observable implications of their model: Central banks are associated with better inflation outcomes in the presence of checks and balances. The turnover of central bank governors is reduced when governors have tenure protections supported by political checks and balances. And the effect of checks and balances is enhanced in more polarized political environments. This paper - a product of Regulation and Competition Policy, Development Research Group - is part of a larger effort in the group to identify the conditions under which regulatory reforms can be effective. The authors may be contacted at pkeeferworldbank.org or d.stasavage@lse.ac.uk
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  • 80
    Language: English
    Pages: Online-Ressource (1 online resource (30 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Wei, Shang-Jin Corruption and the Composition of Foreign Direct Investment
    Keywords: Capital Flows ; Corporate Law ; Corporate Tax Rate ; Debt Markets ; E-Business ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Foreign Direct Investment ; Foreign Direct Investment ; Foreign Investment ; Foreign Investor ; Foreign Investors ; Host Country ; Intangible ; Intangible Assets ; International Capital ; International Economics & Trade ; Investment and Investment Climate ; Investors ; Joint Venture Partner ; Law and Development ; Macroeconomics and Economic Growth ; Microfinance ; Ownership Structure ; Private Sector Development ; Protection Of Investor ; Public Sector Corruption and Anticorruption Measures ; Tax ; Transaction ; Transaction Cost ; Transactions ; Transition Economies ; Transparency ; Capital Flows ; Corporate Law ; Corporate Tax Rate ; Debt Markets ; E-Business ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Foreign Direct Investment ; Foreign Direct Investment ; Foreign Investment ; Foreign Investor ; Foreign Investors ; Host Country ; Intangible ; Intangible Assets ; International Capital ; International Economics & Trade ; Investment and Investment Climate ; Investors ; Joint Venture Partner ; Law and Development ; Macroeconomics and Economic Growth ; Microfinance ; Ownership Structure ; Private Sector Development ; Protection Of Investor ; Public Sector Corruption and Anticorruption Measures ; Tax ; Transaction ; Transaction Cost ; Transactions ; Transition Economies ; Transparency
    Abstract: June 2000 - The extent of corruption in a host country affects a foreign direct investor's choice of investing through a joint venture or through a wholly owned subsidiary. Corruption reduces inward foreign investment and shifts the ownership structure toward joint ventures. Smarzynska and Wei study the impact of corruption in a host country on foreign investors' preference for a joint venture or a wholly owned subsidiary. Their simple model highlights a basic tradeoff in using local partners. On the one hand, corruption makes the local bureaucracy less transparent and increases the value of using a local partner to cut through the bureaucratic maze. On the other hand, corruption decreases the effective protection of an investor's intangible assets and reduces the probability that disputes between foreign and domestic partners will be adjudicated fairly, which reduces the value of having a local partner. As the investor's technological sophistication increases, so does the importance of protecting intangible assets, which tilts the preference away from joint ventures in a corrupt country. Empirical tests of this hypothesis on firm-level data show that corruption reduces inward foreign direct investment and shifts the ownership structure toward joint ventures. Conditonal on foreign direct investment taking place, an increase in corruption from the level found in Hungary to that found in Azerbaijan decreases the probability of a wholly owned subsidiary by 10 to 20 percent. Technologically more advanced firms are less likely to engage in joint ventures, however. Smarzynska and Wei find support for the view that U.S. firms are more averse to joint ventures in corrupt countries than are other foreign investors - possibly because of the U.S. Foreign Corrupt Practices Act, which stipulates penalties for executives of U.S. companies whose employees or local partners engage in paying bribes. But although U.S. companies are more likely than investors from other countries to retain full ownership of firms in corrupt countries, they are not less likely than firms from other countries to undertake foreign direct investment in those countries. This paper - a joint product of Trade and Public Economics, Development Research Group - is part of a larger effort in the group to study the effects of corruption on economic activity. The authors may be contacted at bsmarzynskaworldbank.org or swei@worldbank.org
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  • 81
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (22 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Duval-Hernandez, Robert Leading Indicator Project
    Keywords: Averaging ; Benchmark ; Business Cycles ; Cd ; Cred Economic Activity ; Currencies and Exchange Rates ; Debt Markets ; E-Business ; Economic Research ; Economic Statistics ; Economic Theory and Research ; Education ; Emerging Markets ; Expectations ; Finance and Financial Sector Development ; Forecasting ; Forecasts ; Information Security and Privacy ; Interest Rate ; Knowledge for Development ; Leading Indicators ; Macroeconomics and Economic Growth ; Money ; Private Sector Development ; Science Education ; Science and Technology Development ; Scientific Research and Science Parks ; Statistical and Mathematical Sciences ; Trade ; Trends ; Trough ; Unemployment ; Value ; Variables ; Averaging ; Benchmark ; Business Cycles ; Cd ; Cred Economic Activity ; Currencies and Exchange Rates ; Debt Markets ; E-Business ; Economic Research ; Economic Statistics ; Economic Theory and Research ; Education ; Emerging Markets ; Expectations ; Finance and Financial Sector Development ; Forecasting ; Forecasts ; Information Security and Privacy ; Interest Rate ; Knowledge for Development ; Leading Indicators ; Macroeconomics and Economic Growth ; Money ; Private Sector Development ; Science Education ; Science and Technology Development ; Scientific Research and Science Parks ; Statistical and Mathematical Sciences ; Trade ; Trends ; Trough ; Unemployment ; Value ; Variables
    Abstract: June 2000 - A method for forecasting growth cycles in economic activity (measured as total industrial production), as applied to Lithuania. Everhart and Duval-Hernandez present a method for forecasting growth cycles in economic activity, measured as total industrial production. They construct a series which they aggregate into a composite leading indicator to predict the path of the economy in Lithuania. The cycle is the result of the economy's deviations from its long-term trend. A contractionary phase means a decline in the growth rate of the economy, not necessarily an absolute decline in economic activity. The indicator they select for economic activity is usually the Index of Industrial Production, plus a group of variables that, when filtered and adjusted, becomes the composite leading indicator that forecasts the reference series. Variables include economically and statistically significant financial, monetary, real sector, and business survey data. They base selection of the components of the leading indicator on the forecast efficiency and economic significance of the series. Once selected, the relevant variables are aggregated into a single composite leading indicator, which forecasts the detrended Index of Industrial Production. They apply the Hodrick-Prescott filter method for detrending the series. This is a smoothing technique that decomposes seasonally adjusted series into cyclical and trend components. One advantage of the Hodrick-Prescott filter is that it provides a reasonable estimate of a series' long-term trend. The OECD uses a system of leading indicators to predict growth cycles in the economies of its member countries. These exercises have been very effective in their forecasting ability and accuracy - but for the technique to work it is essential to have an adequate statistical system that provides many economic variables in a precise and timely manner, preferably monthly. The authors extend the OECD technique and present an application to a country of the former Soviet Union. This paper - a joint product of the Poverty Reduction and Economic Management Sector Units, Europe and Central Asia and Latin America and the Carribean Regions, and the Mexico Country Management Unit - is part of a larger effort in the Bank to foster the development of macroeconomic monitoring techniques. Authors may be contacted by email at severhartworldbank.org or rduval@worldbank.org
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  • 82
    Language: English
    Pages: Online-Ressource (1 online resource (36 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Majnoni, Giovanni How the Proposed Basel Guidelines on Rating-Agency Assessments Would Affect Developing Countries
    Keywords: Bank ; Bank Capital ; Bank Ratings ; Banking ; Banking Sector ; Banks ; Banks and Banking Reform ; Capital Adequacy ; Capital Regulation ; Capital Requirements ; Cost Of Capital ; Cred Credit Risk ; Economies ; Finance and Financial Sector Development ; Financial Literacy ; Financial Markets ; Financial Systems ; Fixed Costs ; Loans ; Markets ; Rating Agencies ; Risk ; Bank ; Bank Capital ; Bank Ratings ; Banking ; Banking Sector ; Banks ; Banks and Banking Reform ; Capital Adequacy ; Capital Regulation ; Capital Requirements ; Cost Of Capital ; Cred Credit Risk ; Economies ; Finance and Financial Sector Development ; Financial Literacy ; Financial Markets ; Financial Systems ; Fixed Costs ; Loans ; Markets ; Rating Agencies ; Risk
    Abstract: June 2000 - The Basel Committee has proposed linking capital asset requirements for banks to the banks' private sector ratings. Doing so would reduce the capital requirements for banks that lend prudently in high-income countries; the same incentives would not apply in developing countries. Using historical data on sovereign and individual borrowers, Ferri, Liu, and Majnoni assess the potential impact on non-high-income countries of linking capital asset requirements for banks to private sector ratings, as the Basel Committee has proposed. They show that linking banks' capital asset requirements to external ratings would have undesirable effects for developing countries. First, ratings of banks and corporations in developing countries are less common, so capital asset requirements would be practically insensitive to improvements in the quality of assets - widening the gap between banks of equal financial strength in higher- and lower-income countries. Second, bank and corporate ratings in developing countries (unlike their counterparts in high-income countries) are strongly linked to the sovereign ratings for the country - and appear to be strongly related (asymmetrically) to changes in the sovereign ratings. A sovereign downgrading would bring greater changes in capital allocations than an upgrading, and would call for larger capital requirements at the very time access to capital markets was more difficult. Under the new guidelines, capital requirements in developing countries would thus be exposed to the cyclical swings associated with the revision of sovereign ratings in recent crises. Ultimately, linking banks' capital asset requirements to private sector ratings would reduce the credit available to non-high-income countries and make it more costly, limiting economic activity. Bank capital needs in developing countries would be more volatile than those in high-income countries. These findings suggest that the Basel Committee should reassess the role it proposes assigning to external ratings, to minimize the detrimental impact of the regulatory use of such ratings on developing countries. This paper - a product of the Financial Sector Strategy and Policy Department - is part of a larger effort in the department to study the impact of financial regulation on economic development. The authors may be contacted at lliu2worldbank.org or gmajnoni@worldbank.org
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  • 83
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (38 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Dailami, Mansoor Financial Openness, Democracy, and Redistributive Policy
    Keywords: Banks and Banking Reform ; Bonds ; Capital Flows ; Capital Movements ; Currencies and Exchange Rates ; Debt Markets ; Developing Countries ; Economic Efficiency ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Financial Openness ; Free Capital ; Future ; Governance ; Governance Indicators ; Government Policies ; Information Technologies ; Insurance ; International Capital ; International Capital Mobility ; International Financial Markets ; International Financial System ; International Lending ; Labor Policies ; Macroeconomic Management ; Macroeconomics and Economic Growth ; Market ; Market Integration ; Moral Hazard ; Political Economy ; Political Economy ; Private Sector Development ; Social Protections and Labor ; Banks and Banking Reform ; Bonds ; Capital Flows ; Capital Movements ; Currencies and Exchange Rates ; Debt Markets ; Developing Countries ; Economic Efficiency ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Financial Openness ; Free Capital ; Future ; Governance ; Governance Indicators ; Government Policies ; Information Technologies ; Insurance ; International Capital ; International Capital Mobility ; International Financial Markets ; International Financial System ; International Lending ; Labor Policies ; Macroeconomic Management ; Macroeconomics and Economic Growth ; Market ; Market Integration ; Moral Hazard ; Political Economy ; Political Economy ; Private Sector Development ; Social Protections and Labor
    Abstract: June 2000 - What explains the spread of both democracy and financial openness at this time in history, given the constraining impact of financial market integration on national policy autonomy? International policy coordination is part of the answer, but not all. Also important is the presence of cost-effective redistributive schemes that provide insurance against the risk of financial instability. The debate about the relationship between democratic forms of government and the free movement of capital across borders dates to the 18th century. It has regained prominence as capital on a massive scale has become increasingly mobile and as free economies experience continuous pressure from rapidly changing technology, market integration, changing consumer preferences, and intensified competition. These changes imply greater uncertainty about citizens' future income positions, which could prompt them to seek insurance through the marketplace or through constitutionally arranged income redistribution. As more countries move toward democracy, the availability of such insurance mechanisms to citizens is key if political pressure for capital controls is to be averted and if public support for an open, liberal international financial order is to be maintained. Dailami briefly reviews how today's international financial system evolved from one of mostly closed capital accounts immediately after World War II to today's enormous, largely free-flowing market. Drawing on insights from the literature on public choice and constitutional political economy, Dailami develops an analytical framework for a welfare cost-benefit analysis of financial openness to international capital flows. The main welfare benefits of financial openness derive from greater economic efficiency and increased opportunities for risk diversification. The welfare costs relate to the cost of insurance used as a mechanism for coping with the risks of financial volatility. These insurance costs are the economic losses associated with redistribution, including moral hazard, rent-seeking, and rent-avoidance. A cross-sectional analysis of a large sample of developed and developing countries shows the positive correlation between democracy (as defined by political and civil liberty) and financial openness. More rigorous econometric investigation using logit analysis and controlling for level of income also shows that redistributive social policies are key in determining the likelihood that countries can successfully combine an openness to international capital mobility with democratic forms of government. This paper - a product of Governance, Regulation, and Finance, World Bank Institute- is part of a broader research effort on The Quality of Growth. The author may be contacted at mdailamiworldbank.org
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  • 84
    Language: English
    Pages: Online-Ressource (1 online resource (42 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Lokshin, M. Michael The Effect of Early Childhood Development Programs on Women's Labor Force Participation and Older Children's Schooling in Kenya
    Keywords: Age ; Boys ; Child Care ; Child Development ; Children ; Children and Youth ; Day Care ; Dropout Rates ; Early Child Development ; Early Childhood Development ; Early Childhood Development ; Education ; Enrollment ; Enrollment Of Girls ; Exams ; Finance and Financial Sector Development ; Financial Literacy ; Girls ; Health, Nutrition and Population ; Participation ; Population Policies ; Primary Education ; Primary Education ; Primary School ; Schooling ; Street Children ; Unemployment ; Urban Development ; Wages ; Women ; Youth and Government ; Age ; Boys ; Child Care ; Child Development ; Children ; Children and Youth ; Day Care ; Dropout Rates ; Early Child Development ; Early Childhood Development ; Early Childhood Development ; Education ; Enrollment ; Enrollment Of Girls ; Exams ; Finance and Financial Sector Development ; Financial Literacy ; Girls ; Health, Nutrition and Population ; Participation ; Population Policies ; Primary Education ; Primary Education ; Primary School ; Schooling ; Street Children ; Unemployment ; Urban Development ; Wages ; Women ; Youth and Government
    Abstract: June 2000 - Economic incentives have a powerful effect on the work behavior of women with children in Kenya. In addition to increasing the future productivity of children, government subsidies of low-cost early childhood development programs would increase the number of mothers who work, thus increasing the incomes of poor households and lifting some families out of poverty. They would also increase older girls' enrollment in school, by releasing them from child care responsibilities. About 20,000 early childhood development centers provided day care for and prepared for primary school more than 1 million children aged three to seven (roughly 20 percent of children in that age group) in Kenya in 1995. The number of child care facilities reached 23,690 by the end of 1999. Lokshin, Glinskaya, and Garcia analyze the effect of child care costs on households' behavior in Kenya. For households with children aged three to seven, they model household demand for mothers' participation in paid work, the participation in paid work of other household members, household demand for schooling, and household demand for child care. They find that: · A high cost for child care discourages households from using formal child care facilities and has a negative effect on mothers' participation in market work. · The cost of child care and the level of mothers' wages affect older children's school enrollment, but these factors affect boys' and girls' schooling differently. An increase in mothers' wages increases boys' enrollment but depresses girls' enrollment. · Higher child care costs have no significant effect on boys' schooling but significantly decrease the number of girls in school. This paper - a joint product of Poverty and Human Resources, Development Research Group; Poverty Reduction and Economic Management Sector Unit, South Asia Region; and Human Development 1, Africa Technical Families - is part of a larger effort in the Bank to study the role of gender in the context of the household, institutions, and society. The authors may be contacted at mlokshinworldbank.org, eglinskaya@worldbank.org, or mgarcia1@worldbank.org
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  • 85
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (32 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Mattoo, Aaditya Trade Policies for Electronic Commerce
    Keywords: Commodities ; Cross-Border Trade ; Customs ; Customs Duties ; Debt Markets ; E-Business ; Economic Theory and Research ; Electronic Commerce ; Emerging Markets ; European Union ; Finance and Financial Sector Development ; Financial Services ; Free Trade ; Free Trade ; Importing Country ; International Economics & Trade ; International Trade ; Law and Development ; Macroeconomics and Economic Growth ; Market Access ; National Treatment ; Preferential Trading Arrangements ; Preferential Treatment ; Private Sector Development ; Public Sector Development ; Recourse ; Tariff Reductions ; Trade ; Trade Diversion ; Trade Law ; Trade Policies ; Trade Policy ; Trade Regime ; Trade and Services ; Transport ; Transport and Trade Logistics ; World Trade Organization ; Commodities ; Cross-Border Trade ; Customs ; Customs Duties ; Debt Markets ; E-Business ; Economic Theory and Research ; Electronic Commerce ; Emerging Markets ; European Union ; Finance and Financial Sector Development ; Financial Services ; Free Trade ; Free Trade ; Importing Country ; International Economics & Trade ; International Trade ; Law and Development ; Macroeconomics and Economic Growth ; Market Access ; National Treatment ; Preferential Trading Arrangements ; Preferential Treatment ; Private Sector Development ; Public Sector Development ; Recourse ; Tariff Reductions ; Trade ; Trade Diversion ; Trade Law ; Trade Policies ; Trade Policy ; Trade Regime ; Trade and Services ; Transport ; Transport and Trade Logistics ; World Trade Organization
    Abstract: June 2000 - Members of the World Trade Organization have decided provisionally to exempt electronic delivery of products from customs duties. There is growing support for the decision to be made permanent. Is this desirable? Some countries in the World Trade Organization initially opposed WTO's decision to exempt electronic delivery of products from customs duties, out of concern for the revenue consequences. Others supported the decision as a means of securing open trading conditions. Mattoo and Schuknecht argue that neither the inhibitions nor the enthusiasm are fully justified. First, even if all delivery of digitizable media products moved online - an unlikely prospect - the revenue loss for most countries would be small. More important, however, the prohibition of customs duties does not ensure continued open access for electronically delivered products and may even prompt recourse to inferior instruments of protection. Barrier-free electronic commerce would be more effectively secured by deepening and widening the limited cross-border trade commitments under the General Agreement on Trade in Services (GATS) and by clarifying and strengthening certain GATS disciplines. This paper-a product of Trade, Development Research Group-is part of a larger effort in the group to improve trade policy for goods and services. It is part of a larger project on trade in services supported in part by the United Kingdom's Department for International Development. Aaditya Mattoo may be contacted at amattooworldbank.org
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  • 86
    Language: English
    Pages: Online-Ressource (1 online resource (24 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Mattoo, Aaditya Reciprocity across Modes of Supply in the World Trade Organization
    Keywords: Agreement On Trade ; Border Trade ; Comparative Advantage ; Concessions ; Economic Theory and Research ; Emerging Markets ; Foreign Labor ; Foreign Markets ; Free Trade ; International Economics & Trade ; International Trade and Trade Rules ; Macroeconomics and Economic Growth ; Market Access ; Private Sector Development ; Public Sector Development ; Reciprocal Reduction ; Reciprocity ; Tariff ; Tariff Reduction ; Terms Of Trade ; Terms Of Trade Effects ; Trade Effect ; Trade Negotiations ; Trade Policy ; Trade Policy ; Trade and Services ; Volume Of Trade ; Welfare Gains ; World Trade ; World Trade Organization ; Agreement On Trade ; Border Trade ; Comparative Advantage ; Concessions ; Economic Theory and Research ; Emerging Markets ; Foreign Labor ; Foreign Markets ; Free Trade ; International Economics & Trade ; International Trade and Trade Rules ; Macroeconomics and Economic Growth ; Market Access ; Private Sector Development ; Public Sector Development ; Reciprocal Reduction ; Reciprocity ; Tariff ; Tariff Reduction ; Terms Of Trade ; Terms Of Trade Effects ; Trade Effect ; Trade Negotiations ; Trade Policy ; Trade Policy ; Trade and Services ; Volume Of Trade ; Welfare Gains ; World Trade ; World Trade Organization
    Abstract: June 2000 - If negotiations on trade in services at the World Trade Organization are to advance liberalization beyond levels undertaken unilaterally and lead to more balanced outcomes, reciprocity must play a greater role in negotiations. This may be facilitated by the use of negotiating rules that establish credible links across sectors and modes of delivery. Negotiations on trade in services at the World Trade Organization (WTO) have so far produced little liberalization beyond levels countries have undertaken unilaterally. One reason: limited application of the traditional negotiating principle of reciprocity. In particular, participants have failed to exploit the scope of the services agreement (GATS) for the exchange of market-access concessions across different modes of supply - cross-border delivery and the movement of capital and workers. Using the Heckscher-Ohlin-Vanek framework, Mattoo and Olarreaga propose a negotiating formula that generalizes the fundamental WTO principle of reciprocity to include alternative modes of delivery. Adoption of this formula as a basis for negotiations could bring greater commitments to liberalization on all modes of delivery, producing substantial gains in global welfare and more balanced outcomes. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to improve trade policy in goods and services. The authors may be contacted at amattooworldbank.org or molarreaga@worldbank.org
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  • 87
    Language: English
    Pages: Online-Ressource (1 online resource (50 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Levine, Ross New Firm Formation and Industry Growth
    Keywords: Banks and Banking Reform ; Debt Markets ; Economic Development ; Emerging Markets ; External Finance ; Finance and Financial Sector Development ; Financial Development ; Financial Literacy ; Financial Structure ; Financial System ; Financial Systems ; Individual Investors ; Legal Protection ; Liquid Market ; Market ; Market Development ; Market Liquidity ; Markets ; Outside Investors ; Private Sector Development ; Public Markets ; Shareholders ; Shares ; Stock ; Transaction ; Transaction Costs ; Banks and Banking Reform ; Debt Markets ; Economic Development ; Emerging Markets ; External Finance ; Finance and Financial Sector Development ; Financial Development ; Financial Literacy ; Financial Structure ; Financial System ; Financial Systems ; Individual Investors ; Legal Protection ; Liquid Market ; Market ; Market Development ; Market Liquidity ; Markets ; Outside Investors ; Private Sector Development ; Public Markets ; Shareholders ; Shares ; Stock ; Transaction ; Transaction Costs
    Abstract: June 2000 - Do industries that depend heavily on external finance grow faster in market-based or bank-based financial systems? Are new firms more likely to form in a bank-based or a market-based financial system? Beck and Levine find no evidence for the superiority of either market-based or bank-based financial systems for industries dependent on external financing. But they find overwhelming evidence that industries heavily dependent on external finance grow faster in economies with higher levels of financial development and with better legal protection for outside investors - including strong creditor and shareholder rights and strong contract enforcement mechanisms. Financial development also stimulates the establishment of new firms, which is consistent with the Schumpeterian view of creative destruction. Financial development matters. That the financial system is bank-based or market-based offers little additional information. This paper - a product of the Financial Sector Strategy and Policy Department - is part of a larger effort in the department to understand the link between financial development and economic growth. The authors may be contacted at tbeckworldbank.org or rlevine@csom.umn.edu
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  • 88
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (24 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Green, Richard Regulators and the Poor
    Keywords: Bank Transfers ; Customer ; Customers ; Debt Markets ; E-Business ; Economic Theory and Research ; Electricity ; Emerging Markets ; Energy ; Energy Production and Transportation ; Fax ; Finance and Financial Sector Development ; Financial Literacy ; Information ; Information Services ; Legal Framework ; Macroeconomics and Economic Growth ; Markets and Market Access ; Network ; Networks ; Price ; Prices ; Private Sector Development ; Result ; Telecommunications ; Telephone ; Telephone Services ; Universal Service ; Universal Service Obligation ; Universal Service Obligations ; User ; Bank Transfers ; Customer ; Customers ; Debt Markets ; E-Business ; Economic Theory and Research ; Electricity ; Emerging Markets ; Energy ; Energy Production and Transportation ; Fax ; Finance and Financial Sector Development ; Financial Literacy ; Information ; Information Services ; Legal Framework ; Macroeconomics and Economic Growth ; Markets and Market Access ; Network ; Networks ; Price ; Prices ; Private Sector Development ; Result ; Telecommunications ; Telephone ; Telephone Services ; Universal Service ; Universal Service Obligation ; Universal Service Obligations ; User
    Abstract: July 2000 - The United Kingdom generally fights poverty directly-through the government's benefit system-and not through utilities. But British regulators have taken certain measures that help utility consumers (mostly, but not always, poor consumers). Other countries may be able to copy some of their techniques. Green studies a number of ways in which British regulators have helped poorer consumers. British Telecommunications offers a lower user tariff and a very cheap service with most outgoing calls barred, to attract customers who could not afford the full service. The gas regulator has taken action to reduce price differentials between customers who pay in cash (mostly, but not always, poor customers) and those who pay with bank transfers (mostly, but not always, better off customers). The electricity industry faces a series of rules and codes of practice governing its dealings with domestic consumers. Some of these schemes will help all consumers; others are aimed at, but not exclusive to, the poor. One challenge facing utilities in some countries is that of expanding their networks to reach millions of unserved (mostly poor) customers. The United Kingdom achieved nearly universal service in geographical terms while the utilities were state-owned. The utilities were serving some customers who were already profitable and were simply required to serve others, who might not be. It might be possible to grant a concession, or privatize a new company, on a similar basis of bundling social obligations with opportunities for profit, but it will be important to ensure that obligations are performed properly. U.K. regulators have been fairly successful at protecting existing customers; other countries may be able to copy some of their techniques. This paper-a product of Governance, Regulation, and Finance, World Bank Institute-is part of a larger effort in the institute to increase understanding of infrastructure regulation. The author may be contacted at r.j.greenecon.hull.ac.uk
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  • 89
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (38 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Salinas, Angel How Mexico's Financial Crisis Affected Income Distribution
    Keywords: Bank ; Calculations ; Contribution ; Current Account ; Current Income ; Earnings ; Economic Theory and Research ; Education ; Emerging Markets ; Equity ; Finance and Financial Sector Development ; Financial Crisis ; Financial Literacy ; Household Income ; Income ; Income ; Income Groups ; Income Sources ; Inequality ; Information ; Investment ; Labor Markets ; Labor Policies ; Low-Income ; Macroeconomics and Economic Growth ; Population ; Poverty Impact Evaluation ; Poverty Reduction ; Private Sector Development ; Rural Development ; Rural Poverty Reduction ; Salaries ; Services and Transfers to Poor ; Severe Financial Crisis ; Social Protections and Labor ; Wages ; Bank ; Calculations ; Contribution ; Current Account ; Current Income ; Earnings ; Economic Theory and Research ; Education ; Emerging Markets ; Equity ; Finance and Financial Sector Development ; Financial Crisis ; Financial Literacy ; Household Income ; Income ; Income ; Income Groups ; Income Sources ; Inequality ; Information ; Investment ; Labor Markets ; Labor Policies ; Low-Income ; Macroeconomics and Economic Growth ; Population ; Poverty Impact Evaluation ; Poverty Reduction ; Private Sector Development ; Rural Development ; Rural Poverty Reduction ; Salaries ; Services and Transfers to Poor ; Severe Financial Crisis ; Social Protections and Labor ; Wages
    Abstract: July 2000 - After Mexico's financial crisis in 1994, the distribution of income and labor earnings improved. But financial income and rising labor earnings in higher-income brackets are growing sources of inequality in Mexico. After Mexico's financial crisis in 1994, the distribution of income and labor earnings improved. Did inequality increase during the recession, as one would expect, since the rich have more ways to protect their assets than the poor do? After all, labor is poor people's only asset (the labor-hoarding hypothesis). In principle, one could argue that the richest deciles experienced severe capital losses because of the crisis in 1994-96, and were hurt proportionately more than the poor were. But the facts don't support this hypothesis. As a share of total income, both monetary income (other than wages and salaries) and financial income increased during that period, especially in urban areas. Financial income is a growing source of inequality in Mexico. Mexico's economy had a strong performance in 1997. The aggregate growth rate was about 7 percent, real investment grew 24 percent and exports 17 percent, industrial production increased 9.7 percent, and growth in civil construction (which makes intensive use of less skilled labor) was close to 11 percent. Given those figures, it is not surprising that the distribution of income and labor earnings improved, but the magnitude and quickness of the recovery prompted a close inspection of the mechanisms responsible for it. Lopez-Acevedo and Salinas analyze the decline in income inequality after the crisis, examine income sources that affect the level of inequality, and investigate the forces that drive inequality in Mexico. They find that in 1997 the crisis had hurt the income share of the top decile of the population mainly by reducing its share of labor earnings. Especially affected were highly skilled workers in financial services and nontradables. Results from 1998 suggest that the labor earnings of those workers recovered and in fact increased. Indeed, labor earnings are a growing source of income inequality. This paper-a product of the Economic Policy Sector Unit and Mexico Country Office, Latin America and the Caribbean Region-is part of the Bank's study of earnings inequality after Mexico's economic and educational reforms. The authors may be contacted at gacevedoworldbank.org or asalinas@worldbank.org
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  • 90
    Language: English
    Pages: Online-Ressource (1 online resource (44 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Loayza, Norman Determinants of Current Account Deficits in Developing Countries
    Keywords: Buffer ; Business Cycle ; Central Bank ; Consumption ; Cross-Country Studies ; Currencies and Exchange Rates ; Current Account ; Current Account Balance ; Current Account Defic Current Account Deficits ; Current Account Position ; Debt Markets ; Demand ; Economy ; Emerging Markets ; Explanatory Variables ; External Debt ; Finance and Financial Sector Development ; Financial Literacy ; Interest Rates ; International Economics ; International Economics & Trade ; Macroeconomic Management ; Macroeconomic Variables ; Macroeconomics and Economic Growth ; National Income ; Private Saving ; Private Sector Development ; Surplus ; World Economy ; Buffer ; Business Cycle ; Central Bank ; Consumption ; Cross-Country Studies ; Currencies and Exchange Rates ; Current Account ; Current Account Balance ; Current Account Defic Current Account Deficits ; Current Account Position ; Debt Markets ; Demand ; Economy ; Emerging Markets ; Explanatory Variables ; External Debt ; Finance and Financial Sector Development ; Financial Literacy ; Interest Rates ; International Economics ; International Economics & Trade ; Macroeconomic Management ; Macroeconomic Variables ; Macroeconomics and Economic Growth ; National Income ; Private Saving ; Private Sector Development ; Surplus ; World Economy
    Abstract: July 2000 - In developing countries, increases in current account deficits tend to be associated with a rise in domestic output growth and shocks that increase the terms of trade and cause the real exchange rate to appreciate. Higher savings rates, higher growth rates in industrial economies, and higher international interest rates tend to have the opposite effect. Calderón, Chong, and Loayza examine the empirical links between current account deficits and a broad set of economic variables proposed in the literature. To accomplish this, they complement and extend previous research by using a large, consistent set of macroeconomic data on public and private domestic savings, external savings, and national income variables; focusing on developing economies by drawing on a panel data set for 44 developing countries and annual information for the period 1966-95; adopting a reduced-form approach rather than holding to a particular structural model; distinguishing between within-country and cross-country effects; and employing a class of estimators that controls for the problems of simultaneity and reverse causation. Among their findings: · Current account deficits in developing countries are moderately persistent. · A rise in domestic output growth generates a larger current account deficit. · Increases in savings rates have a positive effect on the current account. · Shocks that increase the terms of trade or cause the real exchange rate to appreciate are linked with higher current account deficits. · Either higher growth rates in industrial economies or higher international interest rates reduce the current account deficit in developing economies. This paper-a product of the Regional Studies Program, Latin America and the Caribbean Region-is part of an effort in the region to understand the determinants of external sustainability. The authors may be contacted at crcntroi.cc.rochester.edu, achong@worldbank.org, or nloayza@condor.bcentral.cl
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  • 91
    Language: English
    Pages: Online-Ressource (1 online resource (56 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Dollar, David Can the World Cut Poverty in Half?
    Keywords: Developing Countries ; Development Assistance ; Development Goals ; Economic Policies ; Global Poverty ; Health, Nutrition and Population ; Incidence Of Poverty ; Large Populations ; Low-Income Countries ; Policies ; Policy ; Policy Change ; Population ; Population Growth ; Population Policies ; Poverty ; Poverty Reduction ; Poverty Reduction ; Pro-Poor Growth ; Purchasing Power ; Purchasing Power Parity ; Respect ; Rural Development ; Rural Poverty Reduction ; Services and Transfers to Poor ; Significant Policy ; Workshops ; Developing Countries ; Development Assistance ; Development Goals ; Economic Policies ; Global Poverty ; Health, Nutrition and Population ; Incidence Of Poverty ; Large Populations ; Low-Income Countries ; Policies ; Policy ; Policy Change ; Population ; Population Growth ; Population Policies ; Poverty ; Poverty Reduction ; Poverty Reduction ; Pro-Poor Growth ; Purchasing Power ; Purchasing Power Parity ; Respect ; Rural Development ; Rural Poverty Reduction ; Services and Transfers to Poor ; Significant Policy ; Workshops
    Abstract: July 2000 - Poverty in the developing world will decline by roughly half by 2015 if current growth trends and policies persist. But a disproportionate share of poverty reduction will occur in East and South Asia, poverty will decline only slightly in Sub-Saharan Africa, and it will increase in Eastern Europe and Central Asia. What can be done to change this picture? More effective development aid could greatly improve poverty reduction in the areas where poverty reduction is expected to lag: Sub-Saharan Africa, Eastern Europe, and Central Asia. Even more potent would be significant policy reform in the countries themselves. Collier and Dollar develop a model of efficient aid in which the total volume of aid is endogenous. In particular, aid flows respond to policy improvements that create a better environment for poverty reduction and effective use of aid. They use the model to investigate scenarios-of policy reform, of more efficient aid, and of greater volumes of aid-that point the way to how the world could cut poverty in half in every major region. The fact that aid increases the benefits of reform suggests that a high level of aid to strong reformers may increase the likelihood of sustained good policy (an idea ratified in several recent case studies of low-income reformers). Collier and Dollar find that the world is not operating on the efficiency frontier. With the same level of concern, much more poverty reduction could be achieved by allocating aid on the basis of how poor countries are as well as on the basis of the quality of their policies. Global poverty reduction requires a partnership in which third world countries and governments improve economic policy while first world citizens and governments show concern about poverty and translate that concern into effective assistance. This paper-a product of the Development Research Group-is part of a larger effort in the group to study aid effectiveness. The authors may be contacted at pcollierworldbank.org or ddollar@worldbank.org
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  • 92
    Book
    Book
    Oxford : Oxford University Press
    ISBN: 0198298692 , 0198257732
    Language: English
    Pages: XXXVII, 418 S , 24cm
    DDC: 305.800942
    RVK:
    Keywords: Minorities ; Legal status, laws, etc ; Great Britain ; Muslims ; Legal status, laws, etc ; Great Britain ; Hindus ; Legal status, laws, etc ; Great Britain ; Sikhs ; Legal status, laws, etc ; Great Britain ; Rastafari movement ; Great Britain ; Human rights ; Great Britain ; Großbritannien ; Minderheitenrecht ; Menschenrecht
    Note: Includes index. - Bibliography. - Originally published: Oxford: Clarendon, 1998
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  • 93
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    ISBN: 0821345508 , 9780821345504
    Language: English
    Pages: Online-Ressource (1 online resource (192 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Series Statement: Global Economic Prospects
    Abstract: Developing countries are now recovering from the worst ravages of the financial crisis of 1997-98. However, the recovery is both uneven and fragile, and many countries continue to struggle in the aftermath. In addition to a review of international economic developments, this report considers three areas where the crisis has had a major impact on growth and welfare in the developing world. First, the crisis has increased poverty in the East Asian crisis countries, Brazil, and the Russian Federation, and elsewhere. Chapter 2 reviews the evidence on the crisis' social impact on East Asia and other developing countries, and addresses the broader issue of the impact of external shocks on poverty in developing countries. Second, though the East Asian crisis countries are experiencing a strong cyclical recovery, severe structural problems remain. Chapter 3 outlines the depth of the problems faced by the corporate and financial sectors of these economies, analyzes the challenges facing the restructuring process, and discusses the appropriate role of government in supporting restructuring and reducing systemic risk. Third, exchange rate depreciations and declines in demand in East Asia exacerbated the fall in primary commodity prices that began in 1996. Chapter 4 examines how the most commodity-dependent economies in the world--the major oil exporting countries and the non-oil exporters of Sub-Saharan Africa--have adjusted to the commodity price cycle
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  • 94
    ISBN: 0821344439 , 0821344463
    Language: English , Spanish
    Pages: Online-Ressource (Electronic data and programs, 1 computer optical disc) , col , 4 3/4 in.
    Additional Material: 1 user guide (xi, 67 p. :ill. ; 23 cm.)
    Edition: 1999 ed
    Edition: Online-Ausg. World Bank E-Library Archive
    Keywords: International trade Statistics ; Databases ; International trade Statistics ; Databases
    Abstract: TradeCAN is designed to analyze international, national, and regional competitiveness in commodities and manufactured exports. It allows users to calculate market shares for each three or four digit SITC export for 1985-1996 and record changes in market share and market structure
    Note: Consists of two databases:TradeCAN 1, industrialized world's imports, and; TradeCAN 2, developing world's imports , Title from disc label , Numeric data. , System requirements:PC with Pentium 150 or faster processor; Windows 95, 98, or NT 3.x or later; hard disk with 20MB free space. , English and Spanish
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  • 95
    Language: English
    Pages: Online-Ressource (1 online resource (54 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Lopez, Ramon Adjustment and Poverty in Mexican Agriculture
    Keywords: Access To Irrigation ; Agricultural Activities ; Agriculture ; Agriculture and Farming Systems ; Commercial Bank ; Credit Markets ; Crops and Crop Management Systems ; Economic Theory and Research ; Farm Decisions ; Farm Households ; Farm Income ; Farm Work ; Farmer ; Farmers ; Finance and Financial Sector Development ; Financial Literacy ; Investment and Investment Climate ; Irrigation ; Landholdings ; Macroeconomics and Economic Growth ; Markets and Market Access ; Natural Disaster ; Poor Farmer ; Poor Farmers ; Poverty ; Poverty Reduction ; Rural Development ; Rural Development Knowledge and Information Systems ; Rural Financial Markets ; Rural Poverty ; Rural Poverty Reduction ; Rural Sector ; Small Farms ; Access To Irrigation ; Agricultural Activities ; Agriculture ; Agriculture and Farming Systems ; Commercial Bank ; Credit Markets ; Crops and Crop Management Systems ; Economic Theory and Research ; Farm Decisions ; Farm Households ; Farm Income ; Farm Work ; Farmer ; Farmers ; Finance and Financial Sector Development ; Financial Literacy ; Investment and Investment Climate ; Irrigation ; Landholdings ; Macroeconomics and Economic Growth ; Markets and Market Access ; Natural Disaster ; Poor Farmer ; Poor Farmers ; Poverty ; Poverty Reduction ; Rural Development ; Rural Development Knowledge and Information Systems ; Rural Financial Markets ; Rural Poverty ; Rural Poverty Reduction ; Rural Sector ; Small Farms
    Abstract: August 1995 - By and large, it appears that the goals of agricultural reform are being met in Mexico. But measures such as decoupling income supports and price supports or reorienting research and extension could help farmers who cannot afford access to machinery and purchased inputs and services. López, Nash, and Stanton report the results of a study of Mexican farm households using 1991 survey data and a smaller resurvey of some of the same households in 1993. One study goal was to empirically examine the relationship between assets and the output supply function. Using a production model focusing on capital as a productive input, they found that both the supply level and the responsiveness (elasticities) to changing input and output prices tend to depend on the farmer's net assets and on how productive assets are used. Regression analysis using data from the surveys shows that farmers who use productive assets such as machinery tend to be positively responsive to price changes, while those with no access to such assets are not. Another study goal was to monitor the condition of Mexican farmers in a rapidly changing policy environment. The 1991 survey data suggest that farmers with more limited use of capital inputs (the low-CI group) were more likely to grow principally corn and to grow fewer crops, on average, than the others. They also had more problems getting credit and were less likely to use purchased inputs, such as seeds, fertilizer, and pesticides, or to use a tractor to prepare the soil. They tended to be less well-educated, and their land tended to be of lower quality. Results from the panel data showed conditions generally improving for the average farmer in the sample area between 1991 and 1993, during a period when agricultural reforms were implemented. Cropping patterns were more diversified, the average size of landholdings increased, the average farmer received more credit (in real terms), more farm households earned income from off-farm work, and more farmers used purchased inputs. Asset ownership and educational attainment also improved modestly. The very small low-CI group in this sample fared as well as, or better than, the other groups. True, their level of educational achievement fell, and fewer of them had off-farm income than in 1991. But their use of credit, irrigation, machinery, and purchased inputs increased more than for other groups. The limited data are not proof of a causal link, but the fact that the goals are being met should at least ensure that adverse conditions are not undermining reform. Farmers that lacked access to productive assets did not respond as well to incentives or take advantage of the opportunities presented by reform and may need assistance, particularly to get access to credit markets. There may be a good argument for decoupling income supports from price supports for farmers, since income payments that are independent of the vagaries of production could provide a more stable signal of creditworthiness than price supports do. Possibly reorienting research and extension services more to the needs of low-CI producers could also improve the efficiency with which the sector adjusts to new incentives. Hypotheses and tentative conclusions from this study will be explored further when more data are collected in 1995. This paper - a product of the International Trade Division, International Economics Department---is part of a larger effort in the department to investigate the effects of international trade policy on individual producers. The study was funded by the Bank's Research Support Budget under the research project Rural Poverty and Agriculture in Mexico: An Analysis of Farm Decisions and Supply Responsiveness (RPO 678-23)
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  • 96
    Language: English
    Pages: Online-Ressource (1 online resource (44 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Yeats, J. Alexander Are Partner-Country Statistics Useful for Estimating Missing Trade Data?
    Keywords: Bilateral Trade ; Common Carriers Industry ; Country Strategy and Performance ; Customs ; Customs Union ; Developing Countries ; Development Economics and Aid Effectiveness ; Economic Theory and Research ; Emerging Markets ; Export Processing ; Export Processing Zones ; Export Value ; Exports ; Free Trade ; Free Trade ; Free Trade Agreement ; Import Data ; Import Statistics ; Import Value ; Imports ; Industry ; International Economics ; International Economics & Trade ; International Trade ; International Trade Statistics ; Law and Development ; Macroeconomics and Economic Growth ; Private Sector Development ; Public Sector Development ; Science and Technology Development ; Statistical and Mathematical Sciences ; Tariffs ; Trade ; Trade Data ; Trade Law ; Trade Policy ; Transport ; Transport Economics, Policy and Planning ; Bilateral Trade ; Common Carriers Industry ; Country Strategy and Performance ; Customs ; Customs Union ; Developing Countries ; Development Economics and Aid Effectiveness ; Economic Theory and Research ; Emerging Markets ; Export Processing ; Export Processing Zones ; Export Value ; Exports ; Free Trade ; Free Trade ; Free Trade Agreement ; Import Data ; Import Statistics ; Import Value ; Imports ; Industry ; International Economics ; International Economics & Trade ; International Trade ; International Trade Statistics ; Law and Development ; Macroeconomics and Economic Growth ; Private Sector Development ; Public Sector Development ; Science and Technology Development ; Statistical and Mathematical Sciences ; Tariffs ; Trade ; Trade Data ; Trade Law ; Trade Policy ; Transport ; Transport Economics, Policy and Planning
    Abstract: Because many developing countries fail to report trade statistics to the United Nations, there has been an interest in using partner-country data to fill these information gaps. The author used partner-country statistics for 30 developing countries to estimate actual (concealed) trade data and analyzed the magnitude of the resulting errors. The results indicate that partner-country data are unreliable even for estimating trade in broad aggregate product groups such as foodstuffs, fuels, or manufactures. Moreover, tests show that the reliability of partner-country statistics degenerates sharply as one moves to more finely distinguished trade categories (lower-level SITCs). Equally disturbing, about one-quarter of the partner-country comparisons take the wrong sign. That is, one country's reported free-on-board (f.o.b.) exports exceed the reported cost-insurance-freight (c.i.f.) value of partners' imports. Aside from product composition, tests show that partner-country data are equally inaccurate for estimating the direction of trade. Why are partner-country data so unreliable for approximating missing data? Evidence shows: 1) problems in reporting or processing COMTRADE data; 2) valuation differences (f.o.b. versus c.i.f.) for imports and exports; 3) problems relating to entrepot trade, or exports originating in export processing zones; 4) problems associated with exchange-rate changes; 5) intentional or unintentional misclassification of products; 6) efforts to conceal trade data for proprietary reasons; and 7) financial incentives to purposely falsify trade data. The author concludes that efforts to improve the general quality, or availability, of trade statistics using partner-country data holds little or no promise, although this information may be useful in specific cases where the trade statistics of a certain country are known to incorporate major errors. Significant progress in ugrading the accuracy, and coverage, of trade statistics can be achieved only by improving each country's procedures for data collection
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  • 97
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (156 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Palacios, J. Robert Averting the Old-Age Crisis
    Keywords: Administrative Costs ; Bank ; Debt Markets ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Income ; Information ; Investment ; Investment Returns ; Labor Force ; Pension ; Pension Fund ; Pension Fund Investment ; Pension Schemes ; Pension Spending ; Pensions and Retirement Systems ; Private Sector Development ; Public Pension ; Public Pension Schemes ; Rates Of Return ; Retirement ; Revenues ; Security ; Social Protections and Labor ; Wage ; Wage Growth ; Administrative Costs ; Bank ; Debt Markets ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Income ; Information ; Investment ; Investment Returns ; Labor Force ; Pension ; Pension Fund ; Pension Fund Investment ; Pension Schemes ; Pension Spending ; Pensions and Retirement Systems ; Private Sector Development ; Public Pension ; Public Pension Schemes ; Rates Of Return ; Retirement ; Revenues ; Security ; Social Protections and Labor ; Wage ; Wage Growth
    Abstract: February 1996 - Supporting documentation for the World Bank publication Averting the Old Age Crisis: Policies to Protect the Old and Promote Growth (1994). Averting the Old Age Crisis: Policies to Protect the Old and Promote Growth, the publication for which this technical annex provides supporting documentation, is the third in a series of major World Bank Policy Research Reports. Unlike its predecessors, The East Asian Miracle and Adjustment in Africa, it does not concentrate on a specific region but focuses rather on the general topic of income security for old age. More than two years of research were required to gather data, review the theoretical literature, examine empirical evidence, and write the book that represents the Bank's most important study of the issue to date. This annex explains in detail the data sources, concepts, and definitions used in the book and provides additional information. It describes the demographic data used in the report and discusses data about public and privately managed pension schemes around the world (giving specific sources for individual countries). An attempt has been made to cross-reference the data available on ]STARS] diskettes, which can be downloaded and analyzed in most database or statistical software packages. This paper - a product of the Poverty and Human Resources Division, Policy Research Department - provides supporting documentation for the World Bank publication Averting the Old-Age Crisis: Policies to Protect the Old and Promote Growth (1994), available from the World Bank bookstore
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  • 98
    Language: English
    Pages: Online-Ressource (1 online resource (57 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Peria, Maria Do Depositors Punish Banks for Bad Behavior?
    Keywords: Bank ; Bank Deposits ; Bank Risk ; Banking ; Banking Crises ; Banking Sector ; Banks ; Banks and Banking Reform ; Debt Markets ; Deposit Insurance ; Deposit Insurance Schemes ; Deposits ; Finance and Financial Sector Development ; Financial Intermediation ; Financial Literacy ; Guarantees ; Industry ; Interest ; Interest Rates ; Loans ; Market Discipline ; Monetary Policies ; Moral Hazard ; Prudential Regulations ; Savings ; Bank ; Bank Deposits ; Bank Risk ; Banking ; Banking Crises ; Banking Sector ; Banks ; Banks and Banking Reform ; Debt Markets ; Deposit Insurance ; Deposit Insurance Schemes ; Deposits ; Finance and Financial Sector Development ; Financial Intermediation ; Financial Literacy ; Guarantees ; Industry ; Interest ; Interest Rates ; Loans ; Market Discipline ; Monetary Policies ; Moral Hazard ; Prudential Regulations ; Savings
    Abstract: February 1999 - A study of the banking industries of Argentina, Chile, and Mexico in the 1980s and 1990s finds that across countries and across deposit insurance schemes, market discipline exists even among small insured depositors - who punish risky banks by withdrawing their deposits. Bank fundamentals are at least as important as other factors affecting deposit behavior. Peria and Schmukler examine the banking industries of Argentina, Chile, and Mexico to see if market discipline existed there in the 1980s and 1990s. Using a set of bank panel data, they test for the presence of market discipline by studying whether depositors punish risky banks by withdrawing their deposits. They find that across countries and across deposit insurance schemes, market discipline exists even among small insured depositors-who punish risky banks by withdrawing their deposits. Standardized coefficients and variance decomposition of deposits indicate that bank fundamentals are at least as important as other factors affecting deposits. GMM estimates confirm that the results are robust to the potential endo-geneity of bank fundamentals. This paper-a joint product of Finance, Development Research Group and the Office of the Chief Economist, Latin America and Carribean Region-is part of a larger effort in the Bank to study banking issues affecting developing countries. The study was funded by the LAC Regional Studies Program and by the Bank's Research Support Budget under research project Deposit Insurance Design and Use (RPO 682-90). The authors may be contacted at mmartinezperiaworldbank.org or sschmukler@worldbank.org
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  • 99
    Language: English
    Pages: Online-Ressource (1 online resource (65 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: James, Estelle Mutual Funds and Institutional Investments
    Keywords: Administrative Costs ; Bank ; Contribution ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Industry ; Financial Literacy ; Financial Markets ; Financial Sustainability ; Individual Accounts ; Investment ; Investment Companies ; Investment and Investment Climate ; Investments ; Macroeconomics and Economic Growth ; Money ; Money Market ; Mutual Fund ; Mutual Funds ; Populations ; Private Sector Development ; Research Assistance ; Retirement ; Retirement Benefits ; Saving ; Social Security ; Administrative Costs ; Bank ; Contribution ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Industry ; Financial Literacy ; Financial Markets ; Financial Sustainability ; Individual Accounts ; Investment ; Investment Companies ; Investment and Investment Climate ; Investments ; Macroeconomics and Economic Growth ; Money ; Money Market ; Mutual Fund ; Mutual Funds ; Populations ; Private Sector Development ; Research Assistance ; Retirement ; Retirement Benefits ; Saving ; Social Security
    Abstract: April 1999 - Among three options for constructing funded social security pillars, one system - individual accounts invested in the institutional market, with constrained choice among investment companies - appears to offer reduced administrative and marketing costs, significant worker choice, and more insulation from political interference than a single centralized fund or individual investments in the retail market would offer. One of the main criticisms of the defined-contribution, individual-account components of social security systems is that they are too expensive. James, Ferrier, Smalhout, and Vittas investigate the cost-effectiveness of three options for constructing funded social security pillars: ° Individual accounts invested in the retail market with relatively open choice. ° Individual accounts invested in the institutional market with constrained choice among investment companies. ° A centralized fund without individual accounts or differentiated investments across individuals. The authors asked several questions: What is the most cost-effective way to organize a system with mandatory individual accounts? How does the cost of an efficient individual account system compare with that of a single centralized fund? And are the cost differentials great enough to outweigh other important considerations? The authors concentrate on countries with well-functioning financial markets, such as the United States, but make comparative references to developing countries. Based on empirical evidence about U.S. mutual and institutional funds, the authors found that the retail market (option 1) allows individual investors to benefit from scale economies in asset management-but at the cost of the high marketing expenses needed to attract large pools of small investments. By contrast, a centralized fund (option 3) can be much cheaper because it achieves scale economies without high marketing costs. But it gives workers no choice and is subject to political manipulation and misallocation of capital. The system of constrained choice (option 2) is much cheaper than the retail option and only slightly more expensive than a single centralized fund. It allows scale economies in asset management and record-keeping while incurring low marketing costs and allowing significant worker choice. It is also more effectively insulated from political interference than a single centralized fund. The authors estimate that option 2 would cost only 0.14 percent-0.18 percent of assets annually. Such large administrative cost savings imply a Pareto improvement-so long as choice is not constrained too much. This paper-a product of Poverty and Human Resources and Finance, Development Research Group-was prepared for a National Bureau of Economic Research Conference on Social Security held on December 4, 1998. The authors may be contacted at ejames3worldbank.org or dvittas@worldbank.org
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  • 100
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (100 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Stephenson, M. Sherry Approaches to Liberalizing Services
    Keywords: Barriers ; Commodities ; Common Market ; Communities & Human Settlements ; Developing Countries ; Developing Country ; Developing Economies ; Economic Development ; Economic Theory and Research ; Emerging Markets ; Foreign Competition ; Free Trade ; Free Trade ; Free Trade Agreement ; Free Trade Agreements ; Future ; Housing and Human Habitats ; ICT Policy and Strategies ; Information and Communication Technologies ; Intangible ; Interest ; International Economics & Trade ; Investment ; Law and Development ; Liberalization ; Macroeconomics and Economic Growth ; Market Access ; Output ; Private Sector Development ; Public Sector Corruption and Anticorruption Measures ; Public Sector Development ; Regional Integration ; Share ; Trade ; Trade Law ; Trade Policy ; Trade and Services ; Barriers ; Commodities ; Common Market ; Communities & Human Settlements ; Developing Countries ; Developing Country ; Developing Economies ; Economic Development ; Economic Theory and Research ; Emerging Markets ; Foreign Competition ; Free Trade ; Free Trade ; Free Trade Agreement ; Free Trade Agreements ; Future ; Housing and Human Habitats ; ICT Policy and Strategies ; Information and Communication Technologies ; Intangible ; Interest ; International Economics & Trade ; Investment ; Law and Development ; Liberalization ; Macroeconomics and Economic Growth ; Market Access ; Output ; Private Sector Development ; Public Sector Corruption and Anticorruption Measures ; Public Sector Development ; Regional Integration ; Share ; Trade ; Trade Law ; Trade Policy ; Trade and Services
    Abstract: May 1999 - Liberalization of services at the subregional level has followed two broad approaches-the GATS model and the NAFTA model-neither of which automatically guarantees the full liberalization of trade in services. The question that participants in integration efforts at both the subregional and the broader regional level must ask is what kind of approach to liberalizing services offers both maximum transparency and the greatest degree of nondiscrimination for service suppliers. Only since completion of the Uruguay Round have developing countries in East Asia and the Western Hemisphere shown interest in liberalizing services. Ambitious efforts are now being made to incorporate services in liberalization objectives of both subregional and regional integration efforts, including in the Asia-Pacific region under APEC and in the Western Hemisphere under the Free Trade Area of the Americas (FTAA) process. At the subregional level, member countries of both ASEAN (in East Asia) and MERCOSUR (in Latin America) have chosen to follow the liberalization model set forth in the World Trade Organization's (WTO) General Agreement on Trade in Services (GATS), and to open their services markets gradually and piecemeal. In the Western Hemisphere, Mexico has successfully promoted the NAFTA model of a more comprehensive liberalization of services markets-and several Latin American countries have adopted the same approach. Regionally, APEC has chosen a concerted voluntary approach to liberalizing services markets. Within the Western Hemisphere, participants are defining which approach they will use in the negotiations on services launched as part of the FTAA in April 1998. In all these efforts, a stated desire to promote more efficient services markets is often hindered by reluctance to open services markets rapidly or comprehensively because of historically entrenched protectionism in the sector and ignorance of the regulatory measures that impede trade in services. Presumably it would be easier to liberalize services at the subregional level, among countries at similar stages of development (although liberalization's economic value there might be questioned). Liberalizing services at the broader regional level is a difficult and ambitious goal, given the diversity of countries involved in such efforts. Thus liberalization will probably move more slowly at the regional than at the subregional level-perhaps even more slowly than at the multilateral level. It is possible that the new round of multilateral talks on services scheduled to begin under the WTO in 2000 may well eclipse the recently begun regional efforts. This paper-a product of Trade, Development Research Group-is part of a larger effort in the group to assist developing countries in the multilateral trade negotiations. The author may be contacted at sstephensonoas.org
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