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  • 1
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: IEG Independent Evaluations and Annual Reviews
    Keywords: IDA ; Private Investment ; Private Sector ; Private Sector Development ; Private Sector Economics ; Private Sector Window (PSW)
    Abstract: The private sector is essential for creating jobs and prosperity in poor countries, but developing it is challenging, especially in fragile and conflict-affected situations (FCS). The IDA Private Sector Window (PSW) is a blended finance facility that enables the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and third-party private sector investors to conduct high-risk transactions in International Development Association (IDA) countries and FCS countries. This evaluation aims to assess the usage, market development potential, and enabling factors of the PSW. The evaluation assesses how the usage of the PSW has changed from its inception in 2017 to 2023 and explores its potential market development effects and its enabling factors, namely concessionality (for IFC and MIGA) and additionality (for IFC). Concessionality is the level of subsidy needed for IFC and MIGA to offer transactions in PSW-eligible countries at market prices. Additionality is the unique support IFC brings to private investments (on a project basis) that is not offered by commercial sources of finance. It comprises financial and nonfinancial additionality. This evaluation assesses the PSW across three IDA cycles: IDA18, which covers FY18-20; IDA19, which covers FY21-22; and IDA20, which covers FY23-25. It updates the 2021 IEG early-stage assessment of the PSW (FY18-20) and complements the IDA20 PSW Mid-Term Review, which was prepared jointly by IDA, IFC, and MIGA
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  • 2
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Private Sector Development, Privatization, and Industrial Policy
    Keywords: Access To Finance ; Business Environment ; Conflict ; Conflict and Development ; Economic Growth ; Finance and Financial Sector Development ; Fragile States ; Private Sector ; Private Sector Development
    Abstract: This Private Sector Assessment Report on the Republic of Yemen is delivered as part of the Private Sector Technical Assistance project. The goal of the project is to understand the dynamics of the country's private sector during conflict; identify constraints to trade, investment, and finance; and propose recommendations for inclusive private sector entry, survival, and growth. The report also includes an overview of the financial sector's impact on the private sector, especially on the latter's resilience during conflict. Finally, the report provides structural and policy recommendations that, once implemented by the authorities on both national and subnational levels, would prepare the Yemeni private sector to participate in the country's post-conflict recovery and reconstruction
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  • 3
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Urban Study
    Keywords: Energy ; Energy Efficiency ; Energy Production and Transportation ; Environment ; Environment and Natural Resource Management ; Finance and Development ; Finance and Financial Sector Development ; Human Development and Gender ; Private Sector Development
    Abstract: In December 2021, the Royal Government of Cambodia (RGC) published Cambodia's Long-Term Strategy for Carbon Neutrality (LTS4CN), which outlines the country's vision in achieving a carbon-neutral economy by 2050. As part of the long-term strategies to achieve net-zero emissions, the RGC set targets for decarbonizing the transportation sector through a combination of measures, including electrifying 70 percent of motorcycles, and 40 percent of cars and urban buses by 2050. It also aims to have 30 percent of mode share by public transport in cities by 2050
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  • 4
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Environmental Study
    Keywords: Access To Finance ; Ecosystem Restoration ; Environment ; Environmental Protection ; Finance and Financial Sector Development ; Financing Needs ; Nature Loss ; Private Sector Development ; Private Sector Economics ; Private Sector Investment
    Abstract: Ecosystem restoration is critical to the global ambition of halting and reversing nature loss. Tremendous efforts have been deployed globally to conserve the remaining rainforests, grasslands, rivers and lakes, reefs and mangroves, and other ecosystems that are critical for safeguarding biodiversity and the ecosystem services that humanity depends on. However, the extent of environmental degradation is such that recovering the productivity of ecosystems where it has been lost is equally important - for nature, communities, and economic sectors. While restoration is often viewed as the purview of the public sector, this report demonstrates opportunities for private sector investment. It aims to shift the perception that restoration finance is limited to grant funding from domestic and international public sources only. Drawing on case studies, it highlights the investment drivers and entry points for private finance in restoration projects. The financing models presented also point to opportunities for replication and scaling. This report is a product of the Finance Task Force of the United Nations Decade on Ecosystem Restoration, an initiative led by the United Nations Environment Program and the Food and Agriculture Organization of the United Nations. The United Nations Decade aims to drive the restoration of one billion hectares of degraded land between now and 2030. The role of the Finance Task Force, chaired by The World Bank, is to catalyze action that can contribute to unlocking the capital needed to meet the United Nations Decade's goals
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  • 5
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other ESW Reports
    Keywords: Business Environment ; Climate Adaptation ; Environment ; Flood Risks ; Natural Disasters ; Private Sector Development ; Private Sector Resilience
    Abstract: Building resilience to natural disasters is imperative for sustainable private sector development and growth in Malaysia. Floods have been Malaysia's most frequent natural disaster, accounting for 85 percent of all natural disasters since 2000. This report looks holistically at the challenges of adaptation to climate change for businesses, exploring the complementarity among the public sector, the financial sector, and the private sector efforts in managing flood risks. It does so by using a range of complementary analyses that bring together the private sector perspective drawn from a firm-level survey, the financial sector perspective based on a survey of financial institutions (both banks and insurers and takaful operators), along with macro-modelling estimates of the aggregate impacts of future floods. The report concludes with a roadmap for policy action to strengthen private sector resilience and enhance the management of flood risks for businesses, zooming in on policies for the financial sector
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  • 6
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Business Environment ; Economic Forecasting ; Economic Growth ; Growth and Prices ; Macroeconomics and Economic Growth ; Payments ; Poverty Projections ; Private Sector ; Private Sector Development ; Public Finances
    Abstract: Private sector participation in the Tajik economy is relatively large, but dynamism is very low. Analysis with micro-level data points to multiple weaknesses: low entry rate, low productivity, limited integration to trade, low incidence of innovation, and limited capabilities. Also revealing is that private firms struggle to grow as they age. All these aspects reflect a business environment that does not reward the more efficient firms or those with the highest growth potential. The Covid-19 effects brought additional challenges to this low-level equilibrium scenario with shocks in sales and financial distress. The silver line aspect stems from the increasing use of digital technologies. Still, the apparent digital divide regarding firm size poses questions on the real implications for future productivity performance. Against this backdrop, and to tackle the long-term weaknesses of the private sector in Tajikistan, it is crucial to remove barriers that prevent the reallocation of resources towards more productive firms so that the private sector becomes more efficient and able to generate more and better jobs. In this case, and to prioritize measures that maximize effects on aggregate demand in the short-medium-run, it is crucial to give precedence to structural policies that remove impediments to firm entry and expansion of the private sector. Three sets of barriers deserve particular attention: (i) barriers to competition, (ii) barriers to foreign direct investment, and (iii) trade barriers. These barriers must be tackled together because they all reinforce each other regarding firms' competitiveness
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  • 7
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2163
    Keywords: Adaptation ; Adaptation to Climate Change ; Climate Change Mitigation and Green House Gases ; Climate Governance ; Climate Resilience ; Economic Diversification ; Environment ; Finance and Financial Sector Development ; Financial Sector and Social Assistance ; Health Costs ; Natural Capital ; Poverty Reduction ; Private Sector ; Private Sector Development ; Private Sector Economics ; Republic Of Congo ; Sustainable Growth
    Abstract: The Republic of Congo (RoC) CCDR is a new World Bank core diagnostic report that integrate climate change and development considerations. It is intended to help the country prioritize the most impactful actions that can boost adaptation and reduce greenhouse gas (GHG) emissions, while delivering on broader development goals. The CCDR builds on data and rigorous research and identify main pathways to reduce climate vulnerabilities and GHG emissions, including the costs and challenges as well as benefits and opportunities from doing so. The report highlights that RoC could reduce poverty in rural areas by 40% and in urban areas by 20% by 2050 by implementing more ambitious reforms to promote economic diversification and climate resilience. It also concludes that business as usual is not an option. Economic losses could reach up to 17% of GDP by 2050 if reforms to diversify the economy and attract more climate investments are not taken. Climate impacts could also increase total health costs from USD 92 million in 2010 to USD 260 million by 2050. The report identifies four priorities to promote sustainable growth in the country: (i) stronger and greener infrastructure and services in electricity, transport, water, and sanitation can deliver transformative results; (ii) More climate-ready education, health systems and social services can save lives and bring critical resources to the poorest; (iii) More investments in natural capital including climate smart agriculture and greater forest management along will help create jobs while reducing carbon emissions; (iv) better climate governance to leverage carbon markets. The forest contributes to USD 260 million in timber exports and store over 44 billion tons of carbon dioxide equivalent emissions. Protecting and valorizing the forest is critical to turn the country's natural capital into wealth. The report emphasizes that the private sector has a critical role to play in mobilizing financing for an ambitious set of reforms and investments in the context of tight fiscal space. This will require raising awareness on risks and opportunities from climate change, and innovative solutions and financial sector reforms
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  • 8
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other ESW Reports
    Keywords: Entrepreneurship Ecosystem ; Finance Risk ; Market Dynamism ; Private Sector ; Private Sector Development ; Private Sector Economics ; Public Research Sector
    Abstract: This report provides a diagnostic of Viet Nam's entrepreneurship ecosystem and details a set of targeted recommendations for improving conditions for innovative entrepreneurship in the country. The diagnostic consists of four components: 1.) An overview of the Vietnamese private sector, with a focus on market dynamism; 2.) A demand side analysis focused on the flow of ideas, skills, and technology that contribute to the pipeline of innovative startups; 3.) A supply-side assessment of public support and private risk finance throughout the firm lifecycle, and 4.) An analysis of the ecosystem framework conditions. The report finds that the overall quality and the level of public support for entrepreneurship is low; founders have challenges with key aspects of running a business, such as developing product-market fit, growth strategies, and team building; and risk capital markets are heavily dependent on foreign funds and investors and have gaps in early-stage finance. The report concludes with three policy recommendations for improving Viet Nam's entrepreneurial performance: 1.) Reorient the national flagship Program 844 on "Supporting the National Innovation Initiative to 2025" toward building a pipeline of investment-ready, innovative startups; 2.) Address regulatory barriers related to risk capital investments; and 3.) Increase the contribution of the public research sector to the innovative startup agenda
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  • 9
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other ESW Reports
    Keywords: Attracting Business Investment ; Business Environment ; Employment Policy ; Job Generation and Creation ; Jobs Policy ; Labor and Employment Law ; Labor Market Regulations ; Law and Development ; Private Sector Development ; Remittances ; Rural Development ; Rural Labor Markets ; Skills Development and Labor Force Training ; Social Protections and Labor
    Abstract: Shaping a Better Future for the Filipino Workforce aims to inform jobs policy by examining key determinants and outcomes of jobs. Jobs are created when the macroeconomic environment is conducive and policies are predictable to businesses with sustained growth, trades, and investments. At the same time, a large body of literature also shows that economic growth alone is not sufficient for generating jobs. Jobs are created when firms pursue expansion through innovation and competitiveness and demand for more labor input, while workers' skills and human capital are able to meet the needs of firms. Intrahousehold resource allocation and decisions for labor supply also affect the jobs outcomes. It is not uncommon that workers as self-employed create jobs by initiating their own business. The market clearing process of labor is then affected by labor market institutions, most notably labor market regulations and labor policies and programs. These are key determinants of how easy it is to start a business or to hire a worker, how high labor costs are, and how efficiently firms and workers are matched. Part I looks into the country's labor market in chronological order, while Part II discusses three major areas of Philippine jobs - labor regulation, international migration, and emerging demands for green and digital jobs
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  • 10
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2162
    Keywords: Access To Finance ; Accommodation and Tourism Industry ; Agricultural Sector Economics ; Agriculture ; Commercial Sectors ; Domestic Private Financing ; Finance and Financial Sector Development ; Green Growth ; Industry ; Infrastructure ; Infrastructure Economics and Finance ; Infrastructure Finance ; Private Sector Development ; Private Sector Economics ; Private Sector Investment ; Social Sectors
    Abstract: In March 2023, the Second Rapid Damage and Needs Assessment (RDNA2) identified USD 411 billion worth of investments required for Ukraine's reconstruction. The World Bank Group's new report "Private Sector Opportunities for a Green and Resilient Reconstruction in Ukraine", developed in cooperation with Ukraine's government, assesses the potential for private financing to meet these needs under both a status quo scenario and a scenario with reforms and other sectoral interventions
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  • 11
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Public Expenditure Review
    Keywords: Education Equity ; Finance and Development ; Finance and Financial Sector Development ; Fiscal Policies ; Private Sector Development ; Public and Municipal Finance ; Public Finance Management
    Abstract: Mauritius's economy has grown dramatically since the country's independence in 1968, and its rapid development offers a powerful example for developing economies worldwide. However, growth dynamism has waned in recent years. In addition, Mauritius was hard-hit by the COVID-19 pandemic and headwinds from Russia's war in Ukraine. Nevertheless, Mauritius has shown strong resilience, and with an economic recovery now well underway, the government has an opportunity to implement structural reforms to boost inclusive growth and sustainably regain high-income status. Reorienting the country's fiscal policy will be critical to this effort, to better align revenues and expenditures and to strengthen macroeconomic stability, which played a major role in Mauritius's economic success. Mauritius's transition to a knowledge-based economy will also require a robust competitive environment and sustained investment in human capital and innovation. This report identifies opportunities to enhance the impact of fiscal policy on macroeconomic stability and accelerate the transition toward greener, more resilient, and knowledge-based growth. The recommended reforms are designed to prioritize investment in productive assets while continuing to meet the social needs of an aging society in a cost-effective manner and strengthening resilience against climate change and other shocks. The report also identifies opportunities to leverage Mauritius's low-carbon growth potential in line with the focus of its most recent budgets
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  • 12
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Keywords: Accommodation and ; Agriculture ; Aquaculture ; Economic Growth ; Fisheries and ; Fisheries Sector ; Growth Potential ; Human Capital ; Industry ; Macroeconomics and Economic Growth ; Private Sector Development ; Regionalization ; Tourism Industry ; Tourism Sector
    Abstract: Comoros is at the crossroads to redefine its future and become an upper-middle income country by 2050, but this would require implementing an ambitious reform agenda that focuses on increasing productivity and private investment. The current business-as-usual policy framework has delivered low private investment and human capital, sectoral growth below potential, and no poverty eradication. Pursuing this policy framework, which would not allow Comoros to reach the GDP growth target of 7.5 percent by 2030 laid out in the national development plan, could result in GDP per capita of USD 1,890 and a poverty rate of 22.9 percent by 2050. By contrast, under a policy framework of ambitious reforms that include measures to increase inclusiveness, Comoros could reach a GDP per capita of USD 3,934 and reduce the poverty rate to below 5 percent by 2050. Supported by the continuous implementation of ambitious reforms, such a level of GDP per capita could have Comoros reach upper-middle-income status by 2050. Under this ambitious reform agenda, private investment would average 11.9 percent of GDP in 2023-2050, and total factor productivity growth would average 1.45 percentage points per year during the same period
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  • 13
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Economic and Sector Work Reports
    Keywords: Business Environment ; Competitiveness and Competition Policy ; Economic Growth ; Economic Theory and Research ; Macroeconomics and Economic Growth ; Private Sector Development
    Abstract: This report provides detailed knowledge on firm-level technology sophistication in Poland, and, by identifying the main barriers and drivers to adoption, it delivers evidence-based policy recommendations to foster technology adoption across different firms and sectors. The analysis based on the TAS is divided into two parts. The main report first describes the new approach to measuring technology sophistication, the structure of the Technology Adoption Survey, and its implementation in Poland. Second, chapter 2 provides key insights from the results by linking technology adoption with productivity, managerial skills, and firms' capabilities. It also investigates heterogeneity in technology sophistication across firms with different characteristics and the main drivers and barriers to adoption. The analysis is enriched by providing an in-depth comparison of technology sophistication between Poland and Korea. Chapter 3 briefly explains the heterogeneity of technology sophistication across sectors in Poland. This report concludes with a policy recommendation chapter that is based on the results of the TAS and the assessment of current policies supporting technology adoption (chapter 4). The second separate report entitled Sectoral approach to the drivers of productivity growth in Polish sectors. A firm-level perspective on technology adoption and firm capabilities complements this report and focuses on the sectoral differences in technology adoption. Each sector, agriculture, food processing, wearing apparel, automotive, pharmaceuticals, trade, financial services, and land transport, is analyzed in detail, not only through the lens of the TAS but also from the perspective of the general economic situation in the sector. Moreover, the series also includes a policy note Do uslug (At your service) The promise of services-led development in Poland that describes the role that the service sector can play in spurring productivity growth
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  • 14
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Policy Notes
    Keywords: Business in Development ; Climate Change Policy and Regulation ; Fiscal and Monetary Policy ; Governance ; Macroeconomics and Economic Growth ; National Governance ; Private Sector Development ; Public Sector Development
    Abstract: Lesotho witnessed poverty reduction prior to the Coronavirus (COVID-19) pandemic and the subsequent shocks, but the pace was slow, and poverty remained widespread. The World Bank Group (WBG)'s partnership with Lesotho is fully aligned with the country's development vision articulated in the second National Strategic Development (NSDP II) and key findings of its 2021 Mid-Term Review. The overall objective of the proposed CPF FY2023-2027 is to support Lesotho in building a sustainable and resilient economy in a post-COVID environment by promoting a private sector driven, export-oriented economy for job creation supported by an enabling, efficient and effective public sector. The CPF consists of three high-level outcomes (HLOs) -increased employment in the private sector, improved human capital outcomes and improved climate resilience with seven objectives under the HLOs. There are two foundational themes (governance and government capacity, and macroeconomic and fiscal sustainability) and three approaches (gender, digitalization, and lagging-region approach) that cut across the CPF. The CPF is scheduled to be finalized with the new government by early 2023
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  • 15
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Economic and Sector Work Reports
    Keywords: Economic and Financial Reform ; IMF ; IMF-Supported Programs ; International Monetary Fund ; Private Sector Development ; Public Sector Development
    Abstract: The Central African Economic and Monetary Community (CEMAC) authorities had been trying to set in motion a process to address the root cause of the region's vulnerability - a largely undiversified economic basis overly dependent on oil. The CEMAC Commission had put in place a large-scale strategy of CEMAC economic and financial reform (PREF). This plan defines a set of reforms, organized around five pillars, to create the basis for more diversified, inclusive, private sector - led growth and enhanced governance of the public sector. Initial measures focused on engaging in closer financial relationships with the International Monetary Fund (IMF) and other development partners. As the first generation of IMF-supported programs are ending, and most CEMAC countries have benefited from the IMF's sizable emergency financing to cope with the social and economic fallout of the COVID-19 crisis, the next step is to identify key reforms that will underpin second-generation programs to boost progress on the PREF and focus on addressing growth bottlenecks. This note responds to this need. It highlights a set of priority reforms at the national and regional levels that can guide the second generation of IMF programs and support the objective of putting CEMAC on a more sustained and inclusive path
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  • 16
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Economic and Sector Work Reports
    Keywords: Competitiveness and Competition Policy ; Information and Communication Technologies ; Information Technology ; Private Sector Development
    Abstract: The report presents the main structural characteristics of the sectors included in the Technology Adoption Survey (TAS) implemented in Poland and provides sectoral TAS results for general and sector-specific business functions, comparing Poland to a peer country, Korea. Nine sectors analyzed within TAS include agriculture, food processing, wearing apparel, motor vehicles, pharmaceuticals, basic metals, wholesale and retail trade, financial services, and land transport. These form a selection of the most important economic industries in agriculture, manufacturing, and services. The same sectors were chosen in all countries where TAS was implemented because of their important contributions to the national economies as well as their diversity, which allowed us to identify the different natures of their technological needs and the barriers to technology adoption. Sectors in Poland differ in technology sophistication in both general business and sector-specific functions but, to a large extent, those differences are driven by the sectors' structural differences, such as the number of large firms, the share of exporters, and the number foreign-owned enterprises. Firms in different sectors face different economic conditions and are exposed to a different balance of regulatory, environmental, and geopolitical risks and challenges. Understanding those sectoral differences, especially as they affect the use of sector-specific technologies, is of utmost importance, because productivity improvements historically have been driven primarily by capital-intensive investment, which often involves sector-specific technologies. In the context of sector-specific technologies, it is worth noting that the level of sophistication differs between sectors. Comparing technology trends across sectors is beyond the scope of this report, however; rather, here we closely follow the methodology described in Bridging the Technological Divide: Technology Adoption by Firms in Developing Countries
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  • 17
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Water and Sanitation Program
    Keywords: Civic Participation and Corporate Governance ; Competitiveness and Competition Policy ; Infrastructure Economics and Finance ; Monitoring and Evaluation in Water Supply and Sanitation ; Private Participation in Infrastructure ; Private Sector Development ; Water Supply and Sanitation ; Water Supply and Sanitation Economics
    Abstract: Inefficiency is common in many of the world's water utilities, especially in developing countries. The problem derives from a range of different causes relating primarily to technical, organizational, and commercial (TOC) factors. Evidence from a World Bank study conducted in 2020 shows that most Zambian commercial utilities (CUs) face inefficiency challenges in their operations. This report details the state of Water Supply and Sanitation (WSS) efficiency in Zambia, focusing on three provinces: Central, Southern, and Luapula. The report is organized into six chapters. Chapter 1 outlines the background and lays out the report's objectives with a brief indication of the approach used for the assessment. Chapter 2 is a review of the state of WSS efficiency in Zambia. In addition to stating the efficiency bottlenecks in WSS delivery, the section highlights the flaws and misconceptions of performance indicators (PIs) that could hinder CUs' efforts to identify the priority areas requiring investment. Chapter 3 describes the method used to assess the technical, operational and commercial efficiency of the three pilot CUs. The section emphasizes i-TOC as an assessment tool that overcomes the flaws of traditional PIs and their application in setting targets. Chapter 4 presents the main findings from the assessment, while chapter 5 summarizes the key findings, and section 6 concludes with interim recommendations, which will be further developed
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  • 18
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Financial Sector Study
    Keywords: Digital Divide ; Finance and Financial Sector Development ; Financial Regulation and Supervision ; Information and Communication Technologies ; Private Sector Development ; Rural Development ; Securities Markets Policy and Regulation
    Abstract: This technical note is structured in the following manner. Section two provides an overview of the main barriers and frictions that SMEs face to access finance. Section three explores how digitization is an enabler for SME finance and how different fintech solutions address these barriers. The fintech solutions analyzed include digital credit, asset-based lending, and equity products. Also examined are innovative products such as digital payments, credit risk assessment using alternative data, tokenized assets, and electronic invoicing. Market enablers such as e-commerce and open banking, and the digitization of business processes, which contribute to addressing the barriers and frictions to SME access to finance, are also highlighted. Section four analyzes how the providers of these fintech solutions for SMEs impact traditional banks, financial institutions, and implications on the financial market structure. This section also discusses the effects of the COVID-19 pandemic on the use of digital financial products for SMEs. Section five then addresses some of the key risks and challenges involved in the adoption of digital financial products and key market enablers. Finally, section six presents policy and regulatory recommendations to address the different challenges
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  • 19
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Enterprise Surveys
    Keywords: Access To Finance ; Competitiveness and Competition Policy ; Finance and Financial Sector Development ; Global Value Chains and Business Clustering ; Human Capital ; Private Sector Development ; Skills Development and Labor Force Training ; Social Protections and Labor
    Abstract: Economic growth in the Middle East and North Africa (MENA) has been weak since the global financial crisis of 2007-09 and the Arab Spring of the early 2010s. Achieving higher and sustainable growth is particularly important in view of other economic challenges facing the region: public debt in MENA countries has increased considerably over the last decade, accompanied by declining investment. This report seeks to understand what lies beneath that relatively slow growth, with a particular focus on the reasons for stagnating productivity and inadequate accumulation of human capital and physical capital in the region's private sector. To this end, the report summarizes the main findings from nine background papers based on enterprise survey data. It also draws conclusions for policy, not only for promoting stronger firm performance, but also for addressing the challenge of climate change by pursuing sustainable growth
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  • 20
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Financial Accountability Study
    Keywords: Bankruptcy and Resolution of Financial Distress ; Finance and Financial Sector Development ; Insolvency ; Microenterprises ; Private Sector Development ; Small and Medium Size Enterprises
    Abstract: This Toolkit is aimed primarily at policy makers, financial institutions, and enterprises. It examines different types of corporate restructuring procedures on the basis that one size does not fit across all jurisdictions. Recent experience of the operation of corporate restructuring regimes around the world demonstrates that such regimes must appropriately account for domestic considerations, including a jurisdiction's institutional and regulatory framework. This Toolkit, a revised and updated version of the 2016 publication, incorporates wide-ranging updates that reflects this experience. It describes matters relevant to the adoption of workout frameworks for a broad range of types of corporate restructuring procedures, some of which provide for a role for courts or regulatory authorities. This widened perspective highlights considerations of particular relevance in the context of the COVID-19 pandemic, a crisis that makes restructuring viable businesses especially important
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  • 21
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Carbon Taxes ; Energy ; Energy Markets ; Enterprise Development and Reform ; Environment ; Fiscal and Monetary Policy ; Macroeconomics and Economic Growth ; Private Sector Development ; Public Sector Development
    Abstract: In the post-pandemic world, EU member states will need to embrace two simultaneous challenges. These will include recovering from the COVID-19 pandemic and embracing the ambitions of the European Green Deal, which maps out broad policies aimed at achieving carbon neutrality by 2050 and reducing emissions by 55 percent by 2030. Compared to the emissions reduction achieved during 1990-2018 by the EU27 countries, the 2018-30 target is 50 percent more ambitious and is to be achieved in a third of the time. Meanwhile, the emissions reduction planned during 2030-50 will be even steeper. The transition in some EU countries will be particularly challenging, given their high energy intensity, significant dependence on fossil fuels for power generation and an increasing and environmentally unfriendly transport fleet. In addition, households will need to be supported in the transition, to avoid a substantial share of the population being adversely affected
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  • 22
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Financial Sector Study
    Keywords: Access to Finance ; Equity and Development ; Finance and Financial Sector Development ; Poverty Reduction ; Private Sector Development ; Private Sector Economics
    Abstract: This report is based on a study of the costs of retail payments in Kosovo, using a methodology (A Practical Guide for Measuring Retail Payment Costs) developed by the World Bank's Payment System Development Group (PSDG), part of the Finance, Competitiveness, and Innovation Global Practice. The study is based on survey data, with questionnaires administered to a sample of households and businesses on the demand side, as well as to 9 commercial banks operating in Kosovo; the Central Bank of Kosovo (in its role as currency issuer and as the operator of the Automated Clearing House); 4 money transfer operators; and the Post Office on the supply side. The study aims to establish a sound economic baseline for the national retail payments system regarding the costs of different payment instruments to better guide system development and enable high-impact changes. Efficiency gains resulting from migration to lower-cost retail payment instruments and more efficient use of those instruments could have significant benefits for economic development and growth as the transaction costs of exchanging goods and services are reduced. Lower costs of retail payments can also fundamentally extend the access of electronic payment services to lower-income households and further improve the efficiency of the national payments system as access to modern payment instruments is broadened
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  • 23
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Investment Climate Assessment
    Keywords: E-Business ; Information and Communication Technologies ; Information Technology ; Infrastructure Investment ; Private Sector Development ; Skills Development and Labor Force Training ; Social Protections and Labor
    Abstract: The rapid expansion of digital technologies around the world has impacted many economic and social activities with increasingly reliable and fast Internet connectivity changing how people communicate, work, and live. Digital services have also played an important role in keeping the world connected and economies running during the COVID-19 pandemic. It is therefore crucial that countries implement proactive polices to become more digitalized and target the creation of an inclusive digital economy in order to foster sustainable and inclusive economic growth. Cross-border data transfer regulations also play an important role in supporting trade in digital services. The Malaysia digital economy report produced by the World Bank in 2018 examined three interrelated issues that are closely aligned with Malaysia's own goal of becoming an e-commerce hub for the region. Building on this research agenda, this deep dive seeks to explain how the role of digital services trade can be enhanced to contribute to Malaysia's competitiveness and integration into the global marketplace. The paper is structured as follows: section one gives introduction and context. Sections 2 and 3 benchmarks Malaysia's digital preparedness (for example, in terms of Internet penetration ratios) against its structural, aspirational, and regional peers. Section 4 assesses the performance of Malaysia's digital services trade and digital economy, including in sub-sectors such as e-commerce and FinTech which are both important elements of digitalization. Section 5 discusses the constraints to deeper integration and development of the digital sector in the Malaysian economy. Section 6 presents the main findings and makes policy recommendations
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  • 24
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other papers
    Keywords: Business Environment ; Corporate Data and Reporting ; Economic Forecasting ; Inflation ; Macroeconomics and Economic Growth ; Private Sector Development ; Private Sector Economics
    Abstract: This detailed note focuses on the results of Myanmar firm monitoring round 12 results. The average operating capacity of firms was 59 percent down from 66 percent in March 2022. About half of all firms reported that power outages remained a concern for business operations. The Kyat depreciation against US dollar remained an operational concern for about half of the firms. Fifty-six percent of firms raised prices in the past three months to June 2022, resulting in a 16 percent average price increase
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  • 25
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Debt Management Performance Assessment
    Keywords: Administrative and Civil Service Reform ; Enterprise Development and Reform ; External Debt ; Finance and Financial Sector Development ; Fiscal Policy ; Private Sector Development ; Social Protections and Labor
    Abstract: A World Bank mission undertook applied the Debt Management Performance Assessment (DeMPA) methodology to evaluate the government's debt management (DM) capacity and institutions in Cabo Verde during March 28 to April 5, 2022. The assessment covers the legal, institutional, and regulatory framework governing DM. The primary counterpart was the Ministry of Finance (MoF) and within it, the Department of the National Treasury / Financial Operations Service which is the main DM office for the central government. The mission identified DM strengths and areas in need of reform, which are useful for measuring progress in DM capacity, supporting policy dialog with the authorities in the context of the second series of the Development Policy Financing operation (DPF). The policy dialogue helped to build on what has changed since the 2016 DeMPA and discussing persisting gaps in government debt management practices. Reducing debt vulnerabilities is an urgent priority for the government of Cabo Verde and would require a combination of debt reprofiling, higher economic growth and fiscal consolidation. With limited space to borrow, it would also require effective Debt Management
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  • 26
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Country Partnership Frameworks
    Keywords: Covid-19 ; Education ; Education For All ; Environment ; Gender ; Health Service Management and Delivery ; Health, Nutrition and Population ; Natural Resources ; Natural Resources Management ; Private Sector ; Private Sector Development ; Private Sector Economics ; Sustainability
    Abstract: The Performance and Learning Review (PLR) summarizes progress in the implementation of the World Bank Group (WBG) Country Partnership Framework (CPF) for Cambodia for Fiscal Year (FY) 2019-2023 (Report No. 136500-KH). The CPF, discussed by the Board of Executive Directors on May 30, 2019, proposed a joint WBG program of assistance covering three focus areas: (i) promoting state efficiency and boosting private sector development; (ii) fostering human development; and (iii) improving agriculture and strengthening sustainable use of natural resources. A cross-cutting theme of strengthening governance, institutions and citizen engagement underpins reforms in all three focus areas. These areas address the key development challenges identified in the 2017 Systematic Country Diagnostic (SCD) (Report No. 115189-KH) and are aligned with the Royal Government of Cambodia (RGC)'s Rectangular Strategy Phase IV and the National Strategic Development Plan 2019-2023 and remain relevant to support Cambodia's post COVID-19 recovery
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  • 27
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other papers
    Keywords: Access To Finance ; Ethics ; Finance and Financial Sector Development ; Governance ; Human Rights ; ICT Data and Statistics ; Information and Communication Technologies ; Private Sector Development
    Abstract: Technology is at the core of credit reporting systems, which have evolved significantly over the past decade by adopting new technologies and business models. As disruptive technologies have been increasingly adopted around the globe, concerns have arisen over possible misuse or unethical use of these new technologies. These concerns inspired international institutions and national authorities to issue high-level principles and guidance documents on responsible technology use. While adopting new technologies benefits the credit reporting industry, unintended negative outcomes of these technologies from ethics and human rights perspectives must also be considered. The white paper begins with a brief introductory section, followed in section 2 with a discussion of technology use in credit reporting, with a special focus on the key disruptive technologies being increasingly adopted by the industry. Section 3 provides information on the scope, development, and high-level principles of several key technology frameworks, including the principles underlying their responsible use. Section 4 introduces ten principles to guide responsible use of technology in credit reporting activities. Section 5 discusses considerations for applying the principles. The section concludes with use cases illustrating the principles in action
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  • 28
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Women in Development and Gender Study
    Keywords: Gender ; Inequality ; Poverty Reduction ; Private Sector Development ; Private Sector Economics ; Small and Medium Size Enterprises
    Abstract: The report focuses on sectoral choice as one of the contributors to the gender gap in firm performance. It explores the difference in profits among female entrepreneurs who cross over into male-dominated sectors (MDS) compared to those who remain in traditionally female-concentrated sectors (FCS). The report provides a snapshot of the factors associated with being a female entrepreneur who crosses over to MDS, including the most salient cross-country ones that are associated with breaking into and surviving in these sectors. Based on this analysis, it offers evidence-based programs and policies which can support women to cross over into more profitable sectors and contribute to their business performance more generally. The studies in this report were conducted across three regions and in ten countries (Sub-Saharan Africa: Botswana, Uganda, Ethiopia, and Guinea, in Latin America and the Caribbean: Peru and Mexico, and in East Asia and Pacific: Cambodia, Lao People's Democratic Republic (PDR), Vietnam, and Indonesia). The report also draws from the findings of the global multi-country future of business survey of entrepreneurs carried out through a social media platform
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  • 29
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other papers
    Keywords: Education ; Emerging Markets ; Export Competitiveness ; Private Sector Development ; Social Capital
    Abstract: A small open economy, Benin has seen growth that is above average for the region. The volatility of high growth spells combined with low productivity growth has translated into limited gains in income per capita. Following its transition from low-income country to lower middle income country status in 2020 Benin is at the start of a new growth path. Its challenge is to boost the structural transformation of its economy driven by new growth drivers capable of sustaining an economic acceleration, lifting labor productivity and creating quality jobs for its young labor force, including women. While Benin's economy has been spared by the worse of the Coronavirus disease 2019 (COVID 19) crisis, the shock has reinforced the need to focus on structural reforms that address long term challenges and ensure that economic recovery is sustainable and inclusive. The key conclusions that underpin this report, following the country economic memorandum (CEM) 2.0 framework suggest that investing further in human capital and closing gender gaps, particularly to accelerate the decline in fertility rates, and integrate women and youth into a higher quality labor market, should be central. Deepening market integration, connecting people and creating agglomeration economies through transport infrastructure and services should catalyze additional opportunities, taking advantage of Benin's geographical position
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  • 30
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Financial Sector Assessment Program
    Keywords: Competitiveness and Competition Policy ; Finance and Financial Sector Development ; Financial Crisis Management and Restructuring ; Financial Regulation and Supervision ; Financial Sector and Social Assistance ; Private Sector Development
    Abstract: State-owned financial institutions (SOFIs) and broader interventions by the state need to play a more prominent role in supporting financial inclusion, green activities and fostering competition among private financial providers. While SOFIs have been generally perceived as complementary to the private sector, their recent incursion into direct lending and commercial activities could raise competitive neutrality considerations, if subsidies are involved. Improving product design, incorporating best practices, strengthening governance, and continuing to improve risk management would support expansion of SOFIs activities in a non-distortionary way. Interventions could be better coordinated to improve efficiency, avoid duplication, and ensure alignment with policy objectives. The formalization of Grupo Bicentenario should contribute to these objectives. Monitoring and evaluation (M and E) of public credit support policies and programs could be strengthened. Finally, interest rate controls and mandatory investment requirements to fund the agricultural sector should be reviewed to limit distortions. Colombia has a well-developed market for NPL management, while the insolvency framework is in a stage of transition and with areas for improvement. Strong and efficient NPL resolution and insolvency frameworks are key for financial sector stability and development. There is an active and competitive market for sales of written-off loans, mainly in unsecured segments, with an extensive availability of investors and market infrastructure. Active resolution of NPLs should continue to be encouraged by the SFC, particularly for commercial NPLs, for which NPL management by third-party providers is scarce. Several recent regulations related to the insolvency framework have been introduced, including temporary emergency decrees that make considerable modifications to the corporate insolvency system. This transitory situation creates uncertainty in the users of the insolvency system, in particular large corporations, and creditors. The incorporation of some of the provisions from these temporary decrees into the bankruptcy law would be advisable. The ultimate judge of corporate insolvency is an administrative entity (the Superintendency of Companies) which is specialized and enjoys good reputation, but the rotation of its authorities and the executive's capacity to remove them poses severe challenges for the predictability of its criteria. Finally, the personal insolvency system requires urgent attention
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  • 31
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other papers
    Keywords: Conflict of Interest ; Corporate Data and Reporting ; Equity ; Governance ; Macroeconomics and Economic Growth ; Private Sector Development ; Public Sector Development ; Transparency
    Abstract: The world spent USD 11 trillion on public procurement in 2018, amounting to 12 percent of global GDP (Bosio and others 2022). Given these substantial volumes, public procurement can contribute to several objectives: savings, integrity, economic growth, inclusiveness, and sustainability. Procurement Data Analytics (PDA) can contribute to the achievement of these objectives. It refers to the use of data to generate actionable insights and evidence to monitor outcomes, inform the policy dialogue, guide reform efforts, and assess the impact of reforms and strategies in public procurement. Despite a growing academic literature and impact evaluations on public procurement, the existing body of evidence is still scarce and limited to a few countries. This impedes drawing generalizable lessons on optimal policies and strategies to achieve the multi-layered objectives of the public procurement function, therefore highlighting the need for a larger adoption of data analytics tools in this area. With the increasing adoption of electronic government procurement (eGP) systems and the corresponding digitization of transaction records, public procurement has enormous untapped potential for the application of data analytics tools. This paper highlights the successful approaches and good practices of previous PDA work and provide useful resources to World Bank teams with country engagements relating to public procurement. Possibly interesting to a broader audience, an analytical framework is also discussed to guide the application of data analytics tools in public procurement, data sources, the open government agenda, and data standards
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  • 32
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Independent Evaluation Group Studies
    Keywords: Business in Development ; Conflict and Development ; Job Creation ; Poverty Impact Evaluation ; Poverty Reduction ; Private Sector Development
    Abstract: The World Bank Group estimates that, by 2030, up to two-thirds of the world's extreme poor will live in countries characterized by fragility, conflict, and violence (FCV). The Bank's FCV strategy emphasizes the critical role the private sector plays in providing jobs and income in fragile and conflict-affected situations (FCS) and its importance in contributing to sustainable development in FCS countries. Supporting investments in FCS has been a strategic priority for both the Bank's International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA) for over a decade. In fact, IFC and MIGA adopted ambitious volume targets for investments and guarantees in International Development Association (IDA) and FCS countries. For instance, IFC committed to delivering 40% of its business volume in IDA and FCS countries, and 15-20% in low-income IDA and IDA FCS countries by 2030. MIGA committed to increasing the share of the volume of guarantees issued to projects in FCS and IDA countries to 30- 33% of its guarantee volume by FY23. But despite gradually deploying new tools and instruments in FCS, increasing investments in FCS has been challenging. This evaluation assesses IFC's and MIGA's effectiveness in supporting private investment and development impact in Fragile and Conflict-affected Situations (FCS) and identifies key factors constraining private investment in FCS and possible trade-offs that practitioners and policy-makers need to consider. Based on its findings, IEG makes three recommendations to strengthen the relevance and effectiveness of IFC's and MIGA's support to investments and private sector development in FCS
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  • 33
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Financial Sector Study
    Keywords: Capital Markets ; Corporate Governance ; Economic Stabilization ; Finance and Financial Sector Development ; Macroeconomics and Economic Growth ; Private Sector Development
    Abstract: This White Paper considers the problem of corporate debt overhang and discusses the policy tools to address it. Corporate debt overhang describes the scenario in which a company's debts are so great that they deter new lenders, affect corporate decision-making, and stifle new investment. At scale, this phenomenon can compromise economic recovery. A greater level of debt can be tolerated in a booming economy, where returns on investment are high, but in a stagnant or contracting economy, where returns on investment are low, the risks associated with corporate debt overhang tend to be more severe. The White Paper is timely and unique in its breadth and perspective. It presents the different elements of the possible solution sets to the corporate debt overhang problem, drawing on the World Bank Group's unique field experience in designing and delivering these solutions. The findings in this paper can be used to help policy makers understand the tools available to them and, more importantly, which tools are most likely to deliver the highest marginal benefit for their country
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  • 34
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Investment Climate Assessment
    Keywords: Foreign Direct Investment ; Infrastructure Economics and Finance ; Investment Climate ; Macroeconomics and Economic Growth ; Private Participation in Infrastructure ; Private Sector Development ; Privatization
    Abstract: The development of a new foreign direct investment (FDI) strategy for Uzbekistan comes at an important moment to support Uzbekistan's new development objectives. The report provides core inputs and elements for the government of Uzbekistan to develop a new FDI strategy and roadmap to unlock new sources of growth. It leverages an assessment of Uzbekistan's historical FDI performance and policy context and provides an analysis of current megatrends affecting the global landscape for FDI to identify sectors with high growth potential for FDI attraction in Uzbekistan. It articulates a vision and specific objectives related to FDI attraction for Uzbekistan and presents explicit, quantifiable objectives and targets to help maximize the contribution of FDI to Uzbekistan's overall economic development goals. It considers relevant historical FDI trends as well as regional and global FDI trends and provides in-depth analysis of the feasibility and desirability of key sectors for FDI attraction that were selected with guidance from the government. To support effective implementation, the presented strategy should be underpinned by a detailed reform action plan and roadmap and a comprehensive monitoring and evaluation framework that can be applied by the government to monitor progress with implementing the FDI strategy
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  • 35
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Public Sector Study
    Keywords: Business Regulation ; Legal Framework ; Private Sector Development ; Small and Medium Size Enterprises
    Abstract: Supervision of business activities through an inspections system is a key component of a government's regulatory apparatus. Several jurisdictions have attempted to address these challenges by further standardizing the approaches, resources, practices, and tools used by two or more inspectorates, a process also known as integration. This note offers insights for reformers and practitioners based on lessons from selected case studies, with a focus on in-land inspections systems integrated in the past decade and discusses some recent developments in inspection reform. A previous World Bank Group (WBG) publication identified five integration models. This study, while confirming that these models remain relevant, examines integration efforts using the five key areas of inspection reform as a lens: institutional frameworks, legal instruments, strategy planning and operational tools, competences, and e-Inspections
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  • 36
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Financial Sector Study
    Keywords: Cryptocurrency ; E-Finance and E-Security ; Emerging Markets ; Finance and Financial Sector Development ; Financial Regulation and Supervision ; Information and Communication Technologies ; Private Sector Development
    Abstract: Fintech is transforming the global financial landscape. It is creating new opportunities to advance financial inclusion and development in Emerging Markets and Developing Economies (EMDEs), but also presents risks that require updated supervision policy frameworks. Fintech encompasses new financial digital products and services enabled by new technologies and policies. Although technology has long played a key role in finance, recent fintech developments are generating disruptive innovation in data collection, processing, and analytics. They are helping to introduce new relationship models and distribution channels that challenge traditional ways of finance, while creating additional risks. While most of these risks are not new, their effects and the way they materialize and spread across the system are not yet fully understood, posing new challenges to regulators and supervisors. For example, operational risk, especially cyber risk, is amplified as increasing numbers of customers access the financial network on a 24 by 7 basis. Likewise, increased reliance by financial firms on third parties for provision of digital services, such as cloud computing, may lead to new forms of systemic risks and concentration on new dominant unregulated players such as big tech firms. This note aims to provide EMDE regulators and supervisors with high-level guidance on how to approach the regulating and supervising of fintech, and more specific advice on a few topics. Preserving the stability, safety, and integrity of the financial system requires increased attention to competition and ensuring a level playing field and to emerging data privacy risks. As a general principle, policy response should be proportionate to risks posed by the fintech activity and its provider. While striking the right balance can be challenging in the absence of global standards, the IMF-World Bank Bali Fintech Agenda (BFA), along with guidance by Standard Setting Bodies, provides a good framework for reference
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  • 37
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Economic and Sector Work Reports
    Keywords: Competitiveness and Competition Policy ; Digital Divide ; E-Business ; E-Finance and E-Security ; Finance and Financial Sector Development ; Information and Communication Technologies ; Private Sector Development ; Small and Medium Size Enterprises
    Abstract: While Malaysia's digital economy had already been growing rapidly over the past decade, the Coronavirus disease (COVID-19) pandemic has further accelerated this trend. In particular, increased access to digital platforms has enabled businesses of all sizes to mitigate the crisis' adverse impacts. At the same time, the depth and breadth of small and medium enterprise (SME) digitalization has remained limited, suggesting a growing risk of digital divide in the country. This report analyzes opportunities and challenges for Malaysian SMEs to better leverage digital tools and platforms to increase their productivity and competitiveness. It is structured around three complementary analytical pillars: (i) a digital business landscape diagnostic presenting the extent of digitalization and use of digital platforms among SMEs in traditional sectors, and the constraints that SMEs still face to digitalize; (ii) an institutional and policy mapping reviewing the government of Malaysia's efforts to foster SME digitalization; and (iii) a digital market regulations assessment evaluating the adequacy of Malaysia's digital regulatory environment, to identify shortcomings that may undermine SMEs' capacity to access and benefit from the use of digital platforms. The analysis has been undertaken with a view to inform the implementation of the Malaysia Digital Blueprint (MyDIGITAL)
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  • 38
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Country Environmental Analysis
    Keywords: Adaptation To Climate Change ; Climate Change ; Climate Change Economics ; Climate Change Mitigation and Green House Gases ; Climate Change Policy and Regulation ; Environment ; Financial Sector ; Floods ; Macroeconomics and Economic Growth ; Private Sector ; Private Sector Development ; Private Sector Economics ; Public Sector Development ; Resilience
    Abstract: Climate change poses a serious threat to Morocco's economic growth and human potential but with the right investments and policies in place, a more sustainable future is possible. A new World Bank diagnostic tool, The Country Climate and Development Report explores the linkages between climate and development and identifies priority actions to build resilience and reduce carbon emissions, while supporting economic growth and reducing poverty. The Morocco climate report identifies three priority areas - tackling water scarcity and droughts; enhancing resilience to floods; and decarbonizing the economy. The report also looks at the cross-cutting issues of financing, governance, and equity. The underlying message in the report is that if Morocco invests in climate action now and takes the appropriate policy measures, the benefits will be immense. Ambitious climate actions will help to revitalize rural areas, create new jobs and position the Kingdom as a green industrial hub, while also helping Morocco to reach its broader development goals. The report identifies key pathways to decarbonize the economy, reducing reliance on fossil fuels and massively deploying solar and wind power. The report estimates that total investment needed to put Morocco firmly on a resilient and low carbon pathway by the 2050s would be around USD 78 billion in present dollar value. The good news is that these investments could be gradual and that with the appropriate policies in place, the private sector could shoulder much of the cost
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  • 39
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Financial Sector Study
    Keywords: Currencies and Exchange Rates ; E-Finance and E-Security ; Finance and Financial Sector Development ; Financial Regulation ; Financial Regulation and Supervision ; Microenterprises ; Private Sector Development
    Abstract: This note provides: (1) an overview of new manifestations of consumer risks that are significant and cross-cutting across four key fintech products: digital microcredit, P2PL, investment-based crowdfunding, and e-money; and (2) examples of emerging regulatory approaches to target such risks. This note is based on a more detailed recently published WBG Policy Research Paper titled Consumer Risks in Fintech, New Manifestations of Consumer Risks and Emerging Regulatory Approaches. The research paper delves more deeply into each of the four key fintech products and their associated risks. The appendix provides an overview of product-specific risks for which more information can be found in the research paper. The primary focus and objective of this note, and the paper on which it is based, is to inform authorities' development of regulatory policy. The examples included here are intended to assist regulators considering potential FCP regulatory approaches to fintech. However, it is hoped that the discussion of manifestations of consumer risks in a fintech context can also assist authorities with related key areas, such as market conduct supervision
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  • 40
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Corporate Data and Reporting ; Economic Development ; Economic Forecasting ; Industrial and Market Data and Reporting ; Industry ; Inflation ; Macroeconomics and Economic Growth ; Private Sector Development
    Abstract: Nepal continues to struggle with the COVID-19 pandemic, but the ongoing COVID-19 vaccination drive has helped to reduce the fatality rate. The country experienced a first wave in March 2020, a second wave in mid-April 2021, and a third wave in January 2022. In response, social distancing measures were imposed but gradually became less stringent as COVID-19 progressed from the first to the third wave, driven in part by the COVID-19 vaccination drive that began in January 2021. Vaccination also contributed to a reduction in the fatality rate. As of March 2022, more than 60 percent of the population has received two doses of COVID-19 vaccines. High frequency indicators suggest that the economy continued to recover in the first half of FY22 after rebounding in FY21 from a contraction in FY20
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  • 41
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Investment Climate Assessment
    Keywords: Competitiveness and Competition Policy ; Labor Market ; Private Sector Development ; Skills Development and Labor Force Training ; Social Protections and Labor ; Trade ; Vocational and Technical Education
    Abstract: While Malaysia's economy has had great success, it also faces several challenges including limited services trade. This report seeks to explain the main constraints that are holding back the services sector in the country. The key finding is that Malaysia's development strategy needs to pivot to better capture new trade patterns. This will need to address some of the main constraints facing the development of Malaysia's services sector. First, is low labor productivity. Secondly, is informality. Thirdly, weak educational outcomes in Malaysia contribute to skills shortages. Finally, limits to competition and regulatory restrictions in services restrict Malaysia's ability to deepen foreign linkages. The key recommendation of the report is that to fulfill the potential of its services sector, Malaysia should take an integrated approach that progressively and gradually addresses artificial policy distinctions between goods and services, and between trade and investment in a world increasingly governed by international production networks
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  • 42
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other papers
    Keywords: Access To Finance ; Finance and Financial Sector Development ; Private Sector Development ; Recommendations
    Abstract: This note is a resource for World Bank task teams providing technical assistance to Borrowers on grievance redress mechanisms (GRMs). The first step in strengthening a project-level GRM, after discussing it within the task team and informing the Country Management Unit (CMU), is to organize a technical assistance mission to conduct a detailed GRM diagnostic for the project or group of projects selected. This helps the project implementation unit (PIU) and task team understand the PIU's capacity for grievance management, learn about grievance resolution experiences of PIU staff and potential complainants and project beneficiaries through field visits, share international experiences with grievance redress while building the capacity of relevant staff, and facilitate the preparation of a GRM strengthening action plan by relevant PIU counterparts. The guidance and tools provided here, including templates and worksheets, can help social development specialists and other relevant task team members systematically plan and organize such missions
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  • 43
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Carbon Emissions ; Debt Markets ; Export Competitiveness ; Finance and Financial Sector Development ; Home Ownership ; Private Sector Development ; Real Estate Development ; Trade ; Trade Facilitation
    Abstract: After a strong start in early 2022, the largest COVID-19 wave in two years and resulting mobility restrictions have disrupted China's growth normalization. The global environment has also significantly worsened following Russia's invasion of Ukraine. Real gross domestic product (GDP) growth is projected to slow sharply to 4.3 percent in 2022. In the face of domestic and external headwinds, China's policymakers should carefully calibrate its policies. In the short term, China should balance COVID-19 mitigation with supporting economic growth. Over the medium term, greater efforts are needed to shift away from the old playbook of stimulus-led investment to boost economic growth. Decisive action to encourage a shift toward consumption, tackle social inequality, and rekindle innovation and productivity growth would help achieve a more balanced, inclusive, and sustainable growth trajectory for China
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  • 44
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other papers
    Keywords: Business Environment ; Gender ; Gender and Economics ; Investment Climate ; Macroeconomics and Economic Growth ; Private Sector Development ; Private Sector Economics ; Women
    Abstract: The private sector has been at the forefront of economic transformation, job creation, and poverty reduction around the world for the past three decades. In developing countries, the private sector provides over 90 percent of jobs. According to a World Bank Group survey of the poor getting a job or starting a business is the most effective way out of poverty. As the global economy seeks to repair the economic scars from the COVID-19 pandemic, with strained public resources, countries will have to rely even more on the private sector to mobilize the investment needed for recovery. The World Bank Group Investment Climate (IC) team works with regional teams and client countries to develop regulatory reform programs to support private sector development in five workstreams. The areas of work include identifying and designing reforms to improve the regulatory environment for firms along all phases of the business life cycle - formalization and entry, operations, expansion, and exit. Investment Climate programs are implemented through the full range of WBG instruments, both lending and advisory. This guide provides a framework for policy makers and economic development practitioners to use to design effective regulatory reforms addressing the entire life cycle of a firm. In all areas of regulation, the IC team emphasizes the equal importance of refining the rules to create a foundation for reform and improving implementation to provide a truly level playing field for businesses
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  • 45
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Foreign Trade, Foreign Direct Investment, and Capital Flows Study
    Keywords: Competition Policy ; Competitiveness and Competition Policy ; Economic Diversification ; Export Competitiveness ; Private Sector Development ; Trade Policy
    Abstract: For a small and landlocked country like North Macedonia, trade integration is particularly important to sustain the country's economic growth and transformation. The importance of trade became even more visible during a global crisis and in the post-pandemic recovery period. Trade integration has contributed to North Macedonia's rise to the status of a middle-income country, but its trade strategy is showing signs of fatigue. The lack of trade diversification and economic transformation limits the role of trade in North Macedonia's growth model. Also, trade openness in services has been weaker than for merchandise, highlighting the untapped potential for trade in services. North Macedonia's growth strategy should aim to diversify the economy and seek export oriented FDI that would have stronger spillover effects on the domestic economy. State aid provided through tax incentives to boost exports and attract FDIs will need to be redesigned to be more effective. A revamped trade strategy is needed that will allow North Macedonia to move further up the GVC ladder and expand its economic diversification through agriculture, agri-business, services, or more complex manufacturing, which will ultimately lead to greater job creation, business survival, and diversification of the economy as a whole. The proposed reform agenda needs to be considered as part of a broader strategy to improve the business climate and attractiveness for investment and raise productivity in the economy. Ultimately, the country's ability to achieve greater economic diversification and upgrading will depend on a large number of different factors, including competition policy, investment policies, innovation, education policies
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  • 46
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Infrastructure Study
    Keywords: Environment ; Land Administration ; Private Sector Development ; Property Rights ; Rural Development ; Rural Land Policies for Poverty Reduction ; Sustainable Land Management
    Abstract: Bangladesh has experienced a rapid pace of economic growth in the last two decades, with notable achievements across several social development parameters. To ensure sustained higher economic growth, the government of Bangladesh (GoB) aims to expand infrastructure related investment in the areas of strategic connectivity, industrialization, tourism development, and trade promotion, all of which require a significant amount of land. Age-old legal and institutional legacies and practices, issues pertaining to institutional capacity, and the lack of interoperability between departments involved in land administration make the overall land acquisition (LA) process extremely complicated and lengthy, with the scarcity of land making it even more challenging. The overall objective of the study was to assess the challenges and identify a mechanism for system strengthening and the scope of needed legal and institutional reform to improve the speed, accuracy, and accountability of the LA process. This report is presented in five chapters that discuss the study method, the analysis of the existing system and its challenges, measures to address the challenges, and the scope of possible legal and institutional reform. After introducing the study in this chapter, Chapter 2 discusses the country's LA system and the process in practice. Chapter 3 describes the overall land administration in Bangladesh, including the method for transferring property rights, the creation and updating of khatians, and the complexity involved in the ownership decision process, one of the primary causes of delays in the payment of compensation. Chapter 4 presents the key challenges in the LA process, from the frustrations faced by IAs, who watch the timelines for their projects extended years longer than planned, to the worries and concerns of affected landowners waiting for compensation. Chapter 5 presents the proposals for improving and strengthening aspects of the LA process, including pertinent issues identified for possible land administration reform
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  • 47
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Energy-Environment Review
    Keywords: Air Quality and Clean Air ; Energy ; Energy and Environment ; Energy and Natural Resources ; Energy Efficiency ; Energy Policies and Economics ; Enterprise Development and Reform ; Environment ; Environment and Energy Efficiency ; Environmental Economics and Policies ; Private Sector Development ; Private Sector Economics ; Special Economic Zones
    Abstract: The aim of this report is to provide the Government of Punjab with a preliminary overview of opportunities and obstacles for the adoption of the EIP Framework by industrial estates (IEs) in Punjab, based on the World Bank Group's experience with emerging economies in implementation of the EIP Framework, as well as the results from research on policy regimes and industrial practices in Punjab. As part of this analysis, Sundar Industrial Estate (SIE) has been selected to pilot the high-level technical analysis on the environmental, social, and economic areas to improve, to operationalize the EIP Framework. Results and recommendations in this report are delivered as part of the broader support of the World Bank Group to the government through the Punjab Green Development Program (P165388). In a 2014 assessment of environmental management for Pakistan's industrial growth, the main findings and recommendations suggest that "to strengthen Pakistan's industrial growth and industrial estates, the government must provide: (i) sectoral policies that support the greening of Pakistan's industrial sector to enhance international competitiveness; (ii) upgraded trade facilitation and sustainable infrastructure (particularly transport and energy infrastructure) to address some of the spatial aspects of industrialization; and (iii) strong institutions for effective industrialization initiatives, including those for small and medium enterprises." As IEs can play a pivotal role in industrial development, it is expected that the EIP Framework will help achieve the vision of Punjab's Growth Strategy 2023 to create "a globally connected and competitive, equitable, culturally vibrant and technologically advanced Punjab with sustainable economic growth driven through a dynamic private sector, an efficient public sector, rich and productive human capital and, a regionally equalized development footprint by 2023."
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  • 48
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Procurement Study
    Keywords: Competition ; Competition Policy ; Governance ; National Governance ; Private Sector Development ; Public Procurement ; Public Sector Development ; Transparency
    Abstract: Procurement of commonly used items is a challenge for government agencies. If the items are repeatedly purchased in one-off fashion, so that the total volume is significant, there may be potential problems like loss of economy of scale, loss of efficiency, lower competition, and no long-term partnership with suppliers. Framework agreements (FAs) have emerged as a potential solution for the issues. Many countries (particularly in Americas and Europe) have used FAs successfully, though the use of FAs by countries outside these regions is still very low. Hence there is tremendous potential for scaling-up the use of FAs in developing countries. This study uses public procurement data from Brazil and Colombia, two major users of FAs. The subsequent chapters will describe the data used for the analysis, the methodology, and the findings. The country contexts, designs of FAs, available data and research questions vary across Brazil and Colombia, and therefore the empirical findings are not comparable between these two countries. For each country case, the analysis provides insights on the benefits and costs of using FAs and useful lessons that can be informative for other countries that are considering adopting or strengthening the use of FAs with similar design. Chapter one gives introduction. Chapters two and three cover data analytics from Brazil and Colombia respectively. Additionally, following annexures are part of this report: annexure-A: a brief introduction to regression analysis; annexure-B: supporting data and information - Brazil; and annexure-C: supporting data and information - Colombia
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  • 49
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Investment Climate Assessment
    Keywords: Access To Finance ; Business Environment ; Business Regulation ; Employment and Unemployment ; Enterprise Development and Reform ; Finance and Financial Sector Development ; Foreign Direct Investment ; Innovation ; Investment Climate ; Macroeconomics and Economic Growth ; Private Sector Development ; Property Rights ; Social Protections and Labor
    Abstract: The report identifies the need for reforms in five complementary areas to boost recovery, productivity, and economic transformation: 1) business regulatory environment; 2) foreign direct investment (FDI); 3) access to productive finance; 4) innovation and entrepreneurship; and 5) participation in global value chains. These areas were selected through consultations with the government and private sector and to complement other analytical work. This report analyzes each area in detail and suggests concrete reform action plans. A cross-cutting trend-which has been accelerated by the COVID-19 crisis -is the importance of digitization within both the public and private sectors. Public policies to support digitization can increase efficiency, enable new business models, and keep firms from lagging behind in domestic and global markets
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  • 50
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Social Protection Study
    Keywords: Entrepreneurs ; Gender ; Gender and Economic Policy ; Gender Monitoring and Evaluation ; Labor Markets ; Macroeconomics and Economic Growth ; Microenterprises ; Private Sector Development ; Social Protections and Labor
    Abstract: This report presents the results of various experimental studies that try to address, from different perspectives, the challenges of supporting the growth and profitability of women entrepreneurs. In Mexico, women tend to be overrepresented in the category of microentrepreneurs, who often have limited access to productive resources and networks. The report addresses two fundamental issues. First, it addresses the issue of how to improve performance and profitability. The second issue focuses on the drivers and the implications of sectoral barriers to women entrepreneurs. For each one of these interventions, the report examines their cost-effectiveness and return on investment (ROI). Both programs exhibit high ROI. Based on the findings, this report concludes that both programs should be available as part of a larger portfolio of interventions to support women with small enterprises
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  • 51
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Investment Climate Assessment
    Keywords: Foreign Direct Investment ; Law and Development ; Macroeconomics and Economic Growth ; Private Sector Development ; Settlement of Investment Disputes
    Abstract: In more recent years, new investments reinforced the megaproject growth model. At present, it is envisaged that the country will experience unprecedented investments in the next 30 years. Realizing the full potential of large oil and gas investments will require a shift in Mozambique's development strategy to date. Foreign direct investment (FDI) is a critical source of finance in Mozambique, supporting the country's growth through the development of megaprojects in extractives and infrastructure. The strong focus on financing FDI through debt instruments likely reflects the specificities of megaprojects and the little confidence investors have in the country's investment climate. Given the impact the Coronavirus disease 2019 (COVID-19) crisis has had on FDI in Mozambique, the government should focus on putting the foundations for investment competitiveness in place to support a resilient recovery. FDI-related recovery support also includes the promotion of links with megaprojects. This report serves as a background paper to the country private sector diagnostic of Mozambique. The report assesses the legal and regulatory framework for FDI with a view to formulate actionable recommendations for consideration by the government
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  • 52
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Public Sector Study
    Keywords: Corporate Governance and Corruption ; Corruption ; Ethics ; Private Sector Development ; Public Sector Development ; Transparency
    Abstract: This Survey on Ethics and Corruption in the Federal Public Service was held online from April 28 to May 28, 2021, in partnership with the Office of the Federal Comptroller General (CGU), the Ministry of the Economy, and the National School of Public Administration (ENAP). All civil servants were represented in the sample, totaling 22,130 respondents. The sample covered all federative units and ministries. Most civil servants report having witnessed some sort of unethical practice during their time in the public sector. Of all respondents, 58.7 percent stated that they witnessed some unethical practice during their career in public service. The most frequent practices were using one's position to help friends or family and bending the rules under pressure from one's superiors. Over the past three years, around one third of all civil servants (33.4 percent) witnessed some unethical practice, according to their reports. Corruption in the public service is multifaceted, thus requiring granular information about its nature, prevalence, and vulnerable actors. In view of its scope, thematic scope, and representativeness, the data generated by the study could become a valuable source for the development of knowledge about corruption in the federal public service. We hope that this Survey on Ethics and Corruption in the Federal Public Service becomes a tool to complement current and future efforts to fight corruption
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  • 53
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Private Sector Development, Privatization, and Industrial Policy
    Keywords: Economic Growth ; Macroeconomics and Economic Growth ; Private Sector Development ; Private Sector Economics ; Productivity ; Research and Development
    Abstract: After a long period of economic transformation that included introducing a series of market-oriented reforms and joining the European Union (EU), Poland was one of the fastest-growing economies in the world by 2020. This report investigates differences in productivity dynamics across economic segments and attempts to derive policy recommendations to improve the Polish economy's productivity performance. First, the authors estimate firm-level total factor productivity (TFP), compute labor productivity indices, and analyze the main productivity patterns between 2009 and 2019. Second, the authors decompose aggregate productivity performance into the within, between, and net entry components using the Melitz Polanec decomposition method to understand the underlying response behind the observed productivity growth in Polish sectors and industries. The efficiency of resource allocation (measured by the between effect) worsened over time in manufacturing and was responsible for the sector's productivity slowdown while allocative efficiency gains improved productivity performance in construction and services. To boost Polish productivity, the empirical evidence provided in the report indicates certain areas for policy actions as well as a few directions for necessary further investigation
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  • 54
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other papers
    Keywords: Access To Finance ; Finance and Financial Sector Development ; Human Resources ; Private Sector Development
    Abstract: In April and May 2020, a first-of-a-kind survey was conducted by the World Bank with project implementation unit (PIU) focal points responsible for the operation of grievance mechanisms (GMs) in World Bank-financed projects across the world. The aim of the survey was to better understand challenges and opportunities linked to GM design and implementation from the perspective of people on the frontline, and to identify areas where they may need additional support to guarantee an effective right to remedy in their projects. This note presents the rationale, methodology, and outcomes of this online survey, as well as related recommendations to improve the functioning of project-level GMs. First, details are provided regarding the background and implementation of the survey, followed by a presentation of survey results, main observations, and key messages regarding the current design and operating practices of GMs in World Bank-financed projects. The survey instrument itself is included in the appendix
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  • 55
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Private Sector Development, Privatization, and Industrial Policy