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  • 1
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (26 pages)
    Parallel Title: Erscheint auch als Thomas, Alastair VAT Rate Structures in Theory and Practice
    Keywords: Economic Theory and Research ; Law and Development ; Macroeconomics and Economic Growth ; Redistribution ; Reduced Rates ; Tax Law ; Tax Rate ; Tax Reform ; Value Added Tax (VAT)
    Abstract: Most countries' value-added tax (VAT) systems apply reduced VAT rates to a selection of expenditure items in order to achieve distributional goals, and (to a lesser extent) social and cultural objectives. This paper assesses the case for applying reduced VAT rates, with a particular focus on OECD countries where reduced rates feature prominently. It examines both the theoretical and empirical evidence, as well as practical considerations, and concludes that the case for reduced VAT rates is weak. In particular, the optimal indirect tax literature finds no redistributive role for reduced VAT rates when other more direct instruments are available. These theoretical findings are supported by the empirical literature that shows reduced VAT rates to be a poorly targeted means of supporting lower income households, particularly when compared to targeted cash transfer programs. Similarly, reduced VAT rates are unlikely to be a well-targeted way to encourage consumption of merit goods, while they also create significant administrative complexity. These findings have significant implications for tax reform in both developed and developing economies. In particular, where countries have the administrative capacity to implement effectively targeted cash transfer programs, they should use these programs to support poorer households instead of reduced VAT rates
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  • 2
    Language: English
    Pages: 1 Online-Ressource (34 pages)
    Parallel Title: Erscheint auch als Himelein, Kristen Implications of Choice of Second Stage Selection Method on Sampling Error and Non-Sampling Error: Evidence from an IDP Camp in South Sudan
    Keywords: Cross-Sectional Household Survey ; Displacement ; Economic Theory and Research ; Estimation ; Household Survey Design ; Macroeconomics and Economic Growth ; Microeconomic Data ; Poverty Reduction ; Social Development ; Survey and Sampling Methods ; Voluntary and Involuntary Resettlement
    Abstract: The most common sampling approach for cross-sectional household surveys in the developing world is a stratified two-stage design, where the first stage is usually a sample from a census-based area frame, and the second stage is a random sample of households from each of the areas selected in the first stage. To overcome the problem of outdated census frame information, it is common to conduct a household listing operation within these areas. However, these listing operations come with severe implications for survey costs, timeframe, as well as quality. To avoid such second-stage operations, some surveys choose alternate approaches for their second-stage operation. This paper compares five of these approaches, namely, satellite mapping, segmentation, grid square, the north method, and random walk, through simulations based on a census conducted in a refugee camp in South Sudan. The paper compares the simulated approach with the estimates derived from the actual experiment and finds that all the resulting estimates are biased. Nevertheless, in addition to their practical challenges, the satellite mapping, segmentation, and grid square approaches exhibit the smallest bias. Although random walk shows the worst performance in the simulations, it regains ground in its implementation, especially vis-a-vis the north method, where implementation adds most significantly to its bias. In conclusion, most probability-based methods perform better than non-probability methods like random walk and are therefore preferrable when no traditional household listing can take place. Although it is important to consider the theoretical properties of sampling approaches, implementation is at least as important. Training, implementation modalities, and monitoring of compliance are key factors in the overall performance
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  • 3
    Language: English
    Pages: 1 Online-Ressource (45 pages)
    Parallel Title: Erscheint auch als Cavanagh, Jack A Metadata Schema for Data from Experiments in the Social Sciences
    Keywords: Data Publicaiton ; Economic Theory and Research ; Health, Nutrition and Population ; ICT Data and Statistics ; Information and Communication Technologies ; Interoperable Social Sciences Data ; Macroeconomics and Economic Growth ; Metadata ; Population Sciences ; Program Evaluation ; Randomized Control Trial ; Secondary Research ; Social Sciences Research ; Technology Innovation ; Trial Registration
    Abstract: The use of randomized controlled trials (RCTs) in the social sciences has greatly expanded, resulting in newly abundant, high-quality data that can be reused to perform methods research in program evaluation, to systematize evidence for policymakers, and for replication and training purposes. However, potential users of RCT data often face significant barriers to discovery and reuse. This paper proposes a metadata schema that standardizes RCT data documentation and can serve as the basis for one-or many, interoperable -data catalogs that make such data easily findable, searchable, and comparable, and thus more readily reusable for secondary research. The schema is designed to document the unique properties of RCT data. Its set of fields and associated encoding schemes (acceptable formats and values) can be used to describe any dataset associated with a social science RCT. The paper also makes recommendations for implementing a catalog or database based on this metadata schema
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  • 4
    Language: English
    Pages: 1 Online-Ressource (30 pages)
    Parallel Title: Erscheint auch als Steenbergen, Victor What Makes an Investment Promotion Agency Effective? Findings from a Structural Gravity Model
    Keywords: Economic Theory and Research ; Foreign Direct Investment ; Foreign Trade Promotion and Regulation ; Gravity Model ; International Economics and Trade ; Investment and Investment Climate ; Investment Promotion ; Macroeconomics and Economic Growth ; Sectoral Foreign Investment Data
    Abstract: Although many countries have established investment promotion agencies over the past two decades, there is little evidence on what characteristics make them effective in attracting foreign direct investment into their home country. To provide new insight into this question, this paper brings together sectoral foreign direct investment data with survey data on investment promotion agency characteristics. Using a structural gravity model framework, it explores the effect of investment promotion agencies' sectoral targeting on inward foreign direct investment stocks over 2013 to 2018, across a sample of 36 middle- and high-income countries. The study finds that investment promotion agency sectoral targeting provides a significant positive effect on the sector's foreign direct investment stock in that country. Yet, a gravity model with country-interaction effects suggests that not all countries are equally effective at promoting investment. The results from the model are used to define two groups: high-performing investment promotion agencies (those with positive, significant effects in attracting foreign direct investment) and other investment promotion agencies (those with insignificant or negative significant effects). Using t-tests, the study considers which investment promotion agency characteristics significantly differ between the two groups. The findings suggest that effective investment promotion agencies are more likely to be private or semi-private agencies. Their mandate tends to be focused narrowly on foreign investment and exclude responsibilities for domestic investment promotion. Such investment promotion agencies are more likely to have a board of directors, and their staff tends to be better compensated. Finally, high-performing investment promotion agencies tend to provide more investor services, partly by engaging smart, sectoral analytics and adopting systems for identifying investor complaints or disputes
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  • 5
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: IEG Independent Evaluations and Annual Reviews
    Keywords: Case Study Review ; Case-Based Evaluation ; Economic Theory and Research ; Evaluation Design ; Intervention Effectiveness ; Interventions and Outcomes ; Macroeconomics and Economic Growth ; Poverty Impact Evaluation ; Poverty Monitoring and Analysis ; Poverty Reduction ; World Bank Support To Carbon Finance Case Study
    Abstract: Several myths persist within research and evaluation circles about the power and limitations of evaluation designs that use cases (or case studies) as their primary empirical material (case-based evaluation designs). Using a real-world application, this paper busts two myths regarding the use of case-based designs in evaluations that aim to answer effectiveness questions and unpack the relationships between interventions and observed changes in outcomes (broadly known as causal analysis): that case studies cannot be used for causal analysis and that it is impossible to generalize from case studies. Through a detailed demonstration of how the evaluation of the World Bank's support to carbon finance has been designed and implemented, the paper undoes these preconceived ideas about the inferential, explanatory, and generalizability power of case-based evaluation designs
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  • 6
    Language: English
    Pages: 1 Online-Ressource (36 pages)
    Parallel Title: Erscheint auch als Andree, Bo Pieter Johannes Machine Learning Imputation of High Frequency Price Surveys in Papua New Guinea
    Keywords: Agriculture ; Agriculture and Food Security ; Economic Shocks ; Economic Theory and Research ; Food Prices ; Inflation ; Machine Learning Advances ; Macroeconomic Monitoring ; Macroeconomics and Economic Growth ; Poverty Monitoring and Analysis ; Poverty Reduction
    Abstract: Capabilities to track fast-moving economic developments re-main limited in many regions of the developing world. This complicates prioritizing policies aimed at supporting vulnerable populations. To gain insight into the evolution of fluid events in a data scarce context, this paper explores the ability of recent machine-learning advances to produce continuous data in near-real-time by imputing multiple entries in ongoing surveys. The paper attempts to track inflation in fresh produce prices at the local market level in Papua New Guinea, relying only on incomplete and intermittent survey data. This application is made challenging by high intra-month price volatility, low cross-market price correlations, and weak price trends. The modeling approach uses chained equations to produce an ensemble prediction for multiple price quotes simultaneously. The paper runs cross-validation of the prediction strategy under different designs in terms of markets, foods, and time periods covered. The results show that when the survey is well-designed, imputations can achieve accuracy that is attractive when compared to costly-and logistically often infeasible-direct measurement. The methods have wider applicability and could help to fill crucial data gaps in data scarce regions such as the Pacific Islands, especially in conjunction with specifically designed continuous surveys
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  • 7
    Language: English
    Pages: 1 Online-Ressource (35 pages)
    Parallel Title: Erscheint auch als Ablaza, Christine Indonesia's Informal Economy: Measurement, Evidence, and a Research Agenda
    Keywords: Economic Theory and Research ; Employment and Unemployment ; Informal Economy Literature Review ; Informal Economy Research ; Informal Employment ; Informal Sector Policy ; Informality Literature ; Macroeconomics and Economic Growth ; Poverty Reduction ; Social Protections and Labor ; Work and Working Conditions
    Abstract: Indonesia has made remarkable economic progress since the Asian Financial Crisis. To sustain its growth and achieve high-income status by 2045, it needs to address the long-standing challenge of informality. Doing so will require a coordinated policy approach informed by robust empirical evidence on the underlying causes and consequences of informality. This paper contributes to this agenda by reviewing the state of knowledge on the informal economy in Indonesia. The study focuses on three key areas of relevance to future policies on informality, namely: (1) key definitions and measures, (2) existing data sources, and (3) findings from previous research. The paper identifies remaining gaps in the existing data and empirical literature and uses this to construct an agenda for future work on the subject
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  • 8
    Language: English
    Pages: 1 Online-Ressource (63 pages)
    Parallel Title: Erscheint auch als Ashwin, Julian Using Large Language Models for Qualitative Analysis can Introduce Serious Bias
    Keywords: Annotation ; Chatgpt ; Economic Theory and Research ; ICT Applications ; ICT Policy and Strategies ; Information and Communication Technologies ; Large Language Models (LLMS) ; LLAMA 2 ; Machine Bias ; Macroeconomics and Economic Growth ; Qualitative Analysis ; Rohingya People ; Social Science Research ; Text as Data
    Abstract: Large Language Models (LLMs) are quickly becoming ubiquitous, but the implications for social science research are not yet well understood. This paper asks whether LLMs can help us analyse large-N qualitative data from open-ended interviews, with an application to transcripts of interviews with displaced Rohingya people in Cox's Bazaar, Bangladesh. The analysis finds that a great deal of caution is needed in using LLMs to annotate text as there is a risk of introducing biases that can lead to misleading inferences. Here this refers to bias in the technical sense, that the errors that LLMs make in annotating interview transcripts are not random with respect to the characteristics of the interview subjects. Training simpler supervised models on high-quality human annotations with flexible coding leads to less measurement error and bias than LLM annotations. Therefore, given that some high quality annotations are necessary in order to asses whether an LLM introduces bias, this paper argues that it is probably preferable to train a bespoke model on these annotations than it is to use an LLM for annotation
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  • 9
    Language: English
    Pages: 1 Online-Ressource (68 pages)
    Parallel Title: Erscheint auch als Iacovone, Leonardo Bayesian Impact Evaluation with Informative Priors: An Application to a Colombian Management and Export Improvement Program
    Keywords: Bayesian Impact Evaluation ; Competition Policy ; Competitiveness and Competition Policy ; Economic Theory and Research ; Export Competitiveness ; International Economics and Trade ; Macroeconomics and Economic Growth ; Management ; Prior Elicitation ; Private Sector Development ; Randomized Experiment ; Social Policy Evaluation Method
    Abstract: Policymakers often test expensive new programs on relatively small samples. Formally incorporating informative Bayesian priors into impact evaluation offers the promise to learn more from these experiments. A Colombian government program which aimed to increase exporting was trialed experimentally on 200 firms with this goal in mind. Priors were elicited from academics, policymakers, and firms. Contrary to these priors, frequentist estimation can not reject 0 effects in 2019, and finds some negative impacts in 2020. For binary outcomes like whether firms export, frequentist estimates are relatively precise, and Bayesian credible posterior intervals update to overlap almost completely with standard confidence intervals. For outcomes like increasing export variety, where the priors align with the data, the value of these priors is seen in posterior intervals that are considerably narrower than frequentist confidence intervals. Finally, for noisy outcomes like export value, posterior intervals show almost no updating from the priors, highlighting how uninformative the data are about such outcomes
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  • 10
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2209
    Keywords: COVID-19 Impact ; Economic Theory and Research ; Equity and Development ; Household Survey Data ; Household Survey Design ; Impact of Shocks on Households ; Living Standards ; Macroeconomics and Economic Growth ; Poverty Reduction ; Questionnaire Design ; Shocks and Household Welfare
    Abstract: Beyond the COVID-19 pandemic, the world has experienced multiple global crises in the last few years. As countries adapt to a new normal, multi-topic household surveys should also be adapted to account for the impacts of shocks on household welfare. By reviewing the standard household survey questionnaires included in the guidebook, capturing what matters: essential guidelines for designing household surveys, the authors provide technical guidance on issues to consider when reviewing, designing, or updating questionnaires for household surveys during or after a major shock - relying on lessons learned from the World Bank's Living Standards Measurement Study program
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  • 11
    Language: English
    Pages: 1 Online-Ressource (51 pages)
    Parallel Title: Erscheint auch als Kraay, Aart A New Distribution Sensitive Index for Measuring Welfare, Poverty, and Inequality
    Keywords: Economic Theory and Research ; Inequality Index ; Macroeconomics and Economic Growth ; Poverty Index ; Poverty Informatics ; Poverty Reduction ; Shared Prosperity ; Welfare Index
    Abstract: Simple welfare indices such as mean income are ubiquitous but not distribution sensitive. In contrast, existing distribution sensitive welfare indices are rarely used, often because they are difficult to explain and/or lack intuitive units. This paper proposes a simple new distribution sensitive welfare index with intuitive units: the average factor by which individual incomes must be multiplied to attain a given reference level of income. This new index is subgroup decomposable with population weights and satisfies the three main definitions of distribution sensitivity in the literature. Variants on this index can be used as distribution sensitive poverty measures and as inequality measures, with the same simple intuitive units. The properties of the new index are illustrated using the global distribution of income across individuals between 1990 and 2019, as well as with selected country comparisons. Finally, the index can be used to define the "prosperity gap" as a proposed new measure of "shared prosperity," one of the twin goals of the World Bank
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  • 12
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (38 pages)
    Parallel Title: Erscheint auch als Doumbia, Djeneba Issuer Composition and Stock Market Growth
    Keywords: Domestic Stock Market Growth ; Economic Growth ; Economic Outcome of Stock Issuers ; Economic Theory and Research ; Equity Issuers ; Finance and Development ; Finance and Financial Sector Development ; Issuer Composition ; Macroeconomics and Economic Growth ; Sectoral Diversity ; Stock Market
    Abstract: Does issuer composition change as stock markets grow, and, if so, how An increase in market capitalization may be driven by growth on the intensive or extensive margin. Such growth may also influence the level of market concentration and diversity among listed firms. Using a novel dataset, this paper examines how the number, concentration, and sectoral diversity of issuers change as domestic stock markets grow, with a focus on low- and middle-income countries. The results show that an increase in stock market capitalization tends to be associated with only growth on the intensive margin. Greater market activity, however, is linked to entry of new issuers and for low- and middle-income countries, also to marginally lower market concentration. However, there is no evidence that sectoral diversity changes with market size or activity. These findings have important implications for firm financing as stock markets may not necessarily become more inclusive as they grow
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  • 13
    Language: English
    Pages: 1 Online-Ressource (11 pages)
    Parallel Title: Erscheint auch als Gajderowicz, Tomasz capturing the Educational and Economic Impacts of School Closures in Poland
    Keywords: COVID-19 Impact On Education ; COVID-19 Learning Loss ; Economic Impact of Learning Loss ; Economic Theory and Research ; Economics of Education ; Education ; Education Indicators and Statistics ; Macroeconomics and Economic Growth ; Primary Education ; School Closures ; Secondary Education
    Abstract: The effect of school closures in the spring of 2020 on the math, science, and reading skills of secondary school students in Poland is estimated. The COVID-19-induced school closures lasted 26 weeks in Poland, one of Europe's longest periods of shutdown. Comparison of the learning outcomes with pre- and post-COVID-19 samples shows that the learning loss was equal to more than one year of study. Assuming a 45-year working life of the total affected population, the economic loss in future student earnings may amount to 7.2 percent of Poland's gross domestic product
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  • 14
    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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  • 15
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (74 pages)
    Parallel Title: Erscheint auch als Kelse, Jack Multiple Price Lists for Willingness to Pay Elicitation
    Keywords: Economic Conditions and Volatility ; Economic Theory and Research ; Macroeconomics and Economic Growth ; Multiple Price List Survey Instrument ; Multiple Price Lists ; Preference Elicitation ; Social Analysis ; Social Development ; Survey Methods ; Surveycto ; Willingness To Pay
    Abstract: Multiple price lists are a convenient tool to elicit willingness to pay in surveys and experiments, but choice patterns such as "multiple switching" and "never switching" indicate high error rates. Existing measurement approaches often do not provide accurate standard errors and cannot correct for bias due to framing and order effects. This paper proposes to combine a randomization approach with a random-effects latent utility model to detect bias and account for error. Data from a choice experiment in South Africa shows that significant order effects exist which, if uncorrected, would lead to distorted conclusions about subjects' preferences. Templates are provided to create a multiple price list survey instrument in SurveyCTO and analyze the resulting data using the proposed methods
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  • 16
    Language: English
    Pages: 1 Online-Ressource (30 pages)
    Parallel Title: Erscheint auch als Canavire-Bacarreza, Gustavo Recovering Income Distribution in the Presence of Interval-Censored Data
    Keywords: Econometrics ; Economic Forecasting ; Economic Theory and Research ; Heteroskedastic Interval Regression ; ICT Data and Statistics ; Income Distribution ; Interval-Censored Data ; Labor Income Data ; Macroeconomics and Economic Growth ; Monte Carlo Simulation ; Poverty and Inequality Estimation ; Poverty Monitoring and Analysis ; Poverty Reduction ; Salary Data ; Wages ; Information and Communication Technologies
    Abstract: This paper proposes a method to analyze interval-censored data, using multiple imputation based on a heteroskedastic interval regression approach. The proposed model aims to obtain a synthetic data set that can be used for standard analysis, including standard linear regression, quantile regression, or poverty and inequality estimation. The paper presents two applications to show the performance of the method. First, it runs a Monte Carlo simulation to show the method's performance under the assumption of multiplicative heteroskedasticity, with and without conditional normality. Second, it uses the proposed methodology to analyze labor income data in Grenada for 2013-20, where the salary data are interval-censored according to the salary intervals prespecified in the survey questionnaire. The results obtained are consistent across both exercises
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  • 17
    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 ; Economic Growth ; Economic Theory and Research ; Finance ; Finance and Development ; Finance and Financial Sector Development ; Macroeconomics and Economic Growth
    Abstract: The halal economy (HE) plays an important role in Malaysia's economic growth, contributing 7.5 percent to the Gross Domestic Product (GDP) as of 2020. Under the Twelfth Malaysia Plan, 2021-2025 (12MP), one of the key strategies to boost Malaysia's economic growth is enhancing the competitiveness of the halal industry to capture a more significant share of the global halal market. The term halal refers to anything that is permissible or lawful under Islamic Law that dictates the way of life of a Muslim (a follower of the Islamic faith). Hence, the scope of the HE is broad and can be defined as an industry that is involved in the provision of halal products and services, including food, clothing and fashion, cosmetics and personal care, travel, and financial services. Consequently, Islamic finance is both parts of the broader HE (Hassan and others, 2021) and can facilitate the development of the HE. This report requested by Bank Negara Malaysia (BNM) explores the role of Islamic finance in supporting the development of Malaysia's HE with the objective of informing policy discourse on enhancing existing strategies to increase access to Islamic finance solutions to underserved HE enterprises. The report comprises the following chapters, (1) the current state of the HE; (2) the financing ecosystem of Malaysia's HE, (3) enhancing role of Islamic finance for the HE in Malaysia; and concludes in Chapter 4 with a set of recommendations for stakeholders in Malaysia. While the recommendations focus on Malaysia, they may also be relevant for other developing economies where the HE and Islamic finance are prominen
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  • 18
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (57 pages)
    Parallel Title: Erscheint auch als Esposito, Bruno Adaptive Experiments for Policy Choice: Phone Calls for Home Reading in Kenya
    Keywords: Adaptive Experiments ; Adaptive Sampling ; Automated Calls To Parents ; Early Literacy ; Economic Development Research ; Economic Policy Research Methods ; Economic Theory and Research ; Edtech Policy Choices ; Education ; Education Technology ; Macroeconomics and Economic Growth ; Multi-Armed Bandits ; Primary Education ; Research Design Parameters
    Abstract: Adaptive sampling in experiments with multiple waves can improve learning for "policy choice problems" where the goal is to select the optimal intervention or treatment among several options. This paper uses a real-world policy choice problem to demonstrate the advantages of adaptive sampling and propose solutions to common issues in applying the method. The application is a test of six formats for automated calls to parents in Kenya that encourage reading with children at home. The adaptive 'exploration sampling' algorithm is used to efficiently identify the call with the highest rate of engagement. Simulations show that adaptive sampling increased the posterior probability of the chosen arm being optimal from 86 to 93 percent and more than halved the posterior expected regret. The paper discusses a range of implementation aspects, including how to decide about research design parameters such as the number of experimental waves
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  • 19
    Language: English
    Pages: 1 Online-Ressource (29 pages)
    Parallel Title: Erscheint auch als Khan, Nazmus Sadat Spillover Effects of China's Trade and Growth Shocks on ASEAN Countries: Evidence from a GVAR Model
    Keywords: Asean Trading Partners ; Association of Southeast Asian Nation (ASEAN) Countries ; Chinese Trade Shocks ; Consumption ; Economic Conditions and Volatility ; Economic Growth ; Economic Integration ; Economic Theory and Research ; Global Vector Autoregression (GVAR) ; Growth Shock ; Macroeconomics and Economic Growth ; Trade Shock
    Abstract: The paper uses a global vector autoregression model with quarterly time series data from 1994 to 2016 to investigate the spillover effects of Chinese trade and growth shocks on 10 Association of Southeast Asian Nations countries. Time varying trade weights are used to construct the foreign variables in individual country models and structural generalized impulse response functions are used to conduct the dynamic analysis. The results show that a positive shock to Chinese trade and growth has a positive effect on the growth of Brunei, Malaysia, the Philippines, Singapore and Thailand. The effect is much weaker and statistically insignificant for other countries
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  • 20
    Language: English
    Pages: 1 Online-Ressource (61 pages)
    Parallel Title: Erscheint auch als Xu, Gang Bureaucrats, Tournament Competition, and Performance Manipulation: Evidence from Chinese Cities
    Keywords: Amount Of Power ; Development ; Economic Development ; Economic Growth ; Economic Growth Rate ; Economic Theory and Research ; Energy ; Energy Policies and Economics ; Gender and Development ; High Population Density ; Industrial Economics ; Industry ; Labor Markets ; Local Economic Growth ; Local Government ; Local Government Budget ; Open Door ; Prior Work Experience ; Public Sector Job ; Quality Of Bureaucracy ; Real Economic Activity ; Real GDP ; Regional Economic Performance ; Social Protections and Labor
    Abstract: Tournament competition is viewed as motivating bureaucrats in promoting growth. This paper examines how this incentive leads to economic performance manipulation. Using data from Chinese cities, the analysis shows that performance exaggeration increases over the course of the first term of the top bureaucrat, peaking in the last year of his or her term. Winning a tournament competition is behind this performance manipulation: political rivals reinforce each other in exaggerating performance, and political competition intensifies the tendency for manipulation. Performance exaggeration leads to higher chances of promotion, but the ratchet effect (that is, better performance today leading to a higher target tomorrow) and the potential to blame predecessors induce restraint. A good local institutional environment also restrains performance manipulation
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  • 21
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Adaptation To Climate Change ; Carbon Policy and Trading ; Climate Change ; Climate Change Mitigation and Green House Gases ; Computable General Equilibrium ; Economic Growth ; Economic Theory and Research ; Environment ; Global Warming ; Macroeconomics and Economic Growth
    Abstract: Policymakers in developing countries face multiple challenges related to climate change. To provide policymakers with reliable recommendations on a variety of climate related policies, the WBG has a diverse and complementary set of models. The analytics range from evaluating the aggregate, sectoral, and welfare effects of mitigation measures to assessing country-specific adaptation needs, considering the impacts of extreme weather events as well as gradual global warming. Key indicators include macroeconomic outcomes, sectoral indicators, co-benefits and poverty and distributional issues. This report summarizes the range of climate and development issues addressed by each model in the WBG suite, revealing both strengths and limitations of individual models, as well as the complementarity among models
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  • 22
    Language: English
    Pages: 1 Online-Ressource (32 pages)
    Parallel Title: Erscheint auch als Timilsina, Govinda How Much does Physical Infrastructure Contribute to Economic Growth? An Empirical Analysis
    Keywords: Economic Growth ; Economic Theory and Research ; Electricity ; Growth Drivers ; Infrastructure ; Infrastructure Economics ; Infrastructure Economics and Finance ; Macroeconomics and Economic Growth ; Mobile Phone ; Telecommunications ; Transport Infrastructure
    Abstract: Existing literature on the relationship between infrastructure and economic growth is inconclusive. This study evaluates the contributions to economic growth of three main categories of infrastructure-transport, electricity, and telecommunications-using data from 87 countries over 1992-2017. Compared with existing studies, this study uses more recent data, includes new types of infrastructure such as mobile phones, and provides separate estimates for developing and developed countries. The pooled mean group estimator, which tests for the weak exogeneity of the infrastructure variables, is employed. The key finding of the study is that an increase in infrastructure, especially electricity generation capacity and telecommunications, has significant positive effects on gross domestic product. Infrastructure has a larger effect in more recent years (1992-2017) than in earlier years (1970-1991), and the effects of infrastructure are higher in developing economies than in industrialized economies
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  • 23
    Language: English
    Pages: 1 Online-Ressource (30 pages)
    Parallel Title: Erscheint auch als Print Version: Jolliffe, Dean Under what Conditions are Data Valuable for Development?
    Keywords: Development Data ; Economic Theory and Research ; Information and Communication Technologies ; Information Technology ; Macroeconomics and Economic Growth ; Public Sector Development ; Public Service Delivery ; Statistical and Mathematical Sciences ; Statistics
    Abstract: Data produced by the public sector can have transformational impacts on development outcomes through better targeting of resources, improved service delivery, cost savings in policy implementation, increased accountability, and more. Around the world, the amount of data produced by the public sector is increasing at a rapid pace, yet their transformational impacts have not been realized fully. Why has the full value of these data not been realized yet This paper outlines 12 conditions needed for the production and use of public sector data to generate value for development and presents case studies substantiating these conditions. The conditions are that data need to have adequate spatial and temporal coverage (are complete, frequent, and timely), are of high quality (are accurate, comparable, and granular), are easy to use (are accessible, understandable, and interoperable), and are safe to use (are impartial, confidential, and appropriate)
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  • 24
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other papers
    Keywords: Climate Change Economics ; Climate Change Impacts ; Debt ; Economic Growth ; Economic Recovery ; Economic Theory and Research ; Environment ; Industrial Economics ; Industry ; Macroeconomics and Economic Growth ; Natural Disasters
    Abstract: This paper provides a review and assessment of the current literature on the macroeconomic impact of natural disasters in the Caribbean, including other non-Caribbean studies that may have implications for it. It also discusses, in view of existing studies, what factors may make Caribbean economies more resilient to these extreme events, as well as whether there are damage thresholds beyond which recovery will be more difficult. Finally, recommendations are provided for future data collection and research that might provide further light on the issues
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  • 25
    Language: English
    Pages: Online-Ressource (1 online resource (33 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Bown, Chad P Developing Countries And Enforcement of Trade Agreements
    Keywords: Dumping ; Economic Theory and Research ; Economics Literature ; Emerging Markets ; Externality ; Free Trade ; Generalized System Of Preferences ; International Economics & Trade ; International Trade ; LDCS ; Law and Development ; Macroeconomics and Economic Growth ; Private Sector Development ; Trade Law ; Trade Liberalization ; Transparency ; WTO ; World Trade Organization ; World Trade Organization ; Dumping ; Economic Theory and Research ; Economics Literature ; Emerging Markets ; Externality ; Free Trade ; Generalized System Of Preferences ; International Economics & Trade ; International Trade ; LDCS ; Law and Development ; Macroeconomics and Economic Growth ; Private Sector Development ; Trade Law ; Trade Liberalization ; Transparency ; WTO ; World Trade Organization ; World Trade Organization ; Dumping ; Economic Theory and Research ; Economics Literature ; Emerging Markets ; Externality ; Free Trade ; Generalized System Of Preferences ; International Economics & Trade ; International Trade ; LDCS ; Law and Development ; Macroeconomics and Economic Growth ; Private Sector Development ; Trade Law ; Trade Liberalization ; Transparency ; WTO ; World Trade Organization ; World Trade Organization
    Abstract: Poor countries are rarely challenged in formal World Trade Organization trade disputes for failing to live up to commitments, reducing the benefits of their participation in international trade agreements. This paper examines the political-economic causes of the failure to challenge poor countries, and discusses the static and dynamic costs and externality implications of this failure. Given the weak incentives to enforce World Trade Organization rules and disciplines against small and poor members, bolstering the transparency function of the World Trade Organization is important for making trade agreements more relevant to trade constituencies in developing countries. Although the paper focuses on the World Trade Organization system, the arguments also apply to reciprocal North-South trade agreements
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  • 26
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (30 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Buckley, Robert M Is Accra A Superstar City?
    Keywords: Adverse Effects ; Banks and Banking Reform ; Communities & Human Settlements ; Development Economics ; Economic Theory and Research ; Economics ; Elasticity ; Equations ; Gross Domestic Product ; Housing and Human Habitats ; Income ; Income Groups ; Inflation Rate ; Macroeconomics and Economic Growth ; Markets and Market Access ; Public Sector Management and Reform ; Underestimates ; Adverse Effects ; Banks and Banking Reform ; Communities & Human Settlements ; Development Economics ; Economic Theory and Research ; Economics ; Elasticity ; Equations ; Gross Domestic Product ; Housing and Human Habitats ; Income ; Income Groups ; Inflation Rate ; Macroeconomics and Economic Growth ; Markets and Market Access ; Public Sector Management and Reform ; Underestimates ; Adverse Effects ; Banks and Banking Reform ; Communities & Human Settlements ; Development Economics ; Economic Theory and Research ; Economics ; Elasticity ; Equations ; Gross Domestic Product ; Housing and Human Habitats ; Income ; Income Groups ; Inflation Rate ; Macroeconomics and Economic Growth ; Markets and Market Access ; Public Sector Management and Reform ; Underestimates
    Abstract: A recent study of house price behavior in U.S. cities by Gyourko, Mayer, and Sinai (2006) raises questions about so-called superstar cities in which housing is so inelastically supplied that it becomes unaffordable, as higher-income families outbid residents. We consider the case of Accra, Ghana, in this light, estimating the elasticity of housing supply and discussing the implications for growth and income distribution. There is not a great deal of data available to examine trends in Accra, so our method is indirect. First, we use a variant of the traditional monocentric city model to calculate the elasticity of Accra's housing supply relative to those of other similarly-sized African cities. This suggests that housing supply responsiveness is much higher elsewhere. This muted supply responsiveness is consistent with the observed higher housing prices. Second, we estimate a number of traditional housing demand equations and reduced form equations. Placing a number of restrictions on the equations allows us to infer Accra's housing supply elasticity. Taken together, our approaches suggest that lower-income families in Accra have such poor housing conditions because the market is extremely unresponsive to demand. Although the outcomes we have traced-high housing prices and low quality-are not unusual relative to the other developed country superstar cities, they are extreme. The welfare costs are considerable, so much so that in addition to direct housing market effects, these policies also appear to have potentially significant implications for the achievement of more equitable growth
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  • 27
    Language: English
    Pages: Online-Ressource (1 online resource (44 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Devarajan, Shantayanan Aid, Growth, And Real Exchange Rate Dynamics
    Keywords: Currencies and Exchange Rates ; Debt ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Equilibrium ; Extreme Poverty ; Finance and Financial Sector Development ; Incentive Effects ; Macroeconomic Management ; Macroeconomic Management ; Macroeconomics and Economic Growth ; Marginal Productivity ; Open Economy ; Private Sector Development ; Productivity ; Savings ; Side Effects ; Currencies and Exchange Rates ; Debt ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Equilibrium ; Extreme Poverty ; Finance and Financial Sector Development ; Incentive Effects ; Macroeconomic Management ; Macroeconomic Management ; Macroeconomics and Economic Growth ; Marginal Productivity ; Open Economy ; Private Sector Development ; Productivity ; Savings ; Side Effects ; Currencies and Exchange Rates ; Debt ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Equilibrium ; Extreme Poverty ; Finance and Financial Sector Development ; Incentive Effects ; Macroeconomic Management ; Macroeconomic Management ; Macroeconomics and Economic Growth ; Marginal Productivity ; Open Economy ; Private Sector Development ; Productivity ; Savings ; Side Effects
    Abstract: Devarajan, Go, Page, Robinson, and Thierfelder argued that if aid is about the future and recipients are able to plan consumption and investment decisions optimally over time, then the potential problem of an aid-induced appreciation of the real exchange rate (Dutch disease) does not occur. In their paper, "Aid, Growth and Real Exchange Rate Dynamics," this key result is derived without requiring extreme assumptions or additional productivity story. The economic framework is a standard neoclassical growth model, based on the familiar Salter-Swan characterization of an open economy, with full dynamic savings and investment decisions. It does require that the model is fully dynamic in both savings and investment decisions. An important assumption is that aid should be predictable for intertemporal smoothing to take place. If aid volatility forces recipients to be constrained and myopic, Dutch disease problems become an issue
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  • 28
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (27 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Ravallion, Martin On The Welfarist Rationale For Relative Poverty Lines
    Keywords: Armut ; Messung ; Theorie ; Malawi ; Absolute poverty ; Economic Theory and Research ; Food items ; Inequality ; Macroeconomics and Economic Growth ; Poor ; Poor people ; Poverty Lines ; Poverty Reduction ; Poverty gap ; Poverty measurement ; Pro-Poor Growth ; Risk sharing ; Rural ; Rural Development ; Rural Poverty Reduction ; Rural areas ; Absolute poverty ; Economic Theory and Research ; Food items ; Inequality ; Macroeconomics and Economic Growth ; Poor ; Poor people ; Poverty Lines ; Poverty Reduction ; Poverty gap ; Poverty measurement ; Pro-Poor Growth ; Risk sharing ; Rural ; Rural Development ; Rural Poverty Reduction ; Rural areas ; Absolute poverty ; Economic Theory and Research ; Food items ; Inequality ; Macroeconomics and Economic Growth ; Poor ; Poor people ; Poverty Lines ; Poverty Reduction ; Poverty gap ; Poverty measurement ; Pro-Poor Growth ; Risk sharing ; Rural ; Rural Development ; Rural Poverty Reduction ; Rural areas
    Abstract: The theory and evidence supporting a relativist approach to poverty measurement are critically reviewed. Various sources of welfare interdependence are identified, including the idea of "relative deprivation" as well other (positive and negative) welfare effects for poor people of belonging to a better-off group. An economic model combines informal risk sharing with the idea of a "positional good," and conditions are derived in which the relative deprivation effect dominates, implying a relative poverty measure. The paper then reviews the problems encountered in testing for welfare effects of relative deprivation and discusses the implications of micro evidence from Malawi. The results are consistent with the emphasis given to absolute level of living in development policy discussions. However, relative deprivation is still evident in the data from this poor but unequal country, and it is likely to become a more important factor as the country develops
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  • 29
    Language: English
    Pages: Online-Ressource (1 online resource (31 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Goni, Edwin Fiscal Redistribution And Income Inequality In Latin America
    Keywords: Debt Markets ; Economic Theory and Research ; Effective tax rates ; Emerging Markets ; Finance and Financial Sector Development ; Indirect taxation ; Macroeconomics and Economic Growth ; Poverty Impact Evaluation ; Poverty Reduction ; Private Sector Development ; Tax ; Tax collection ; Tax incidence ; Tax rate ; Tax rates ; Tax revenue ; Tax revenues ; Tax system ; Taxation and Subsidies ; Debt Markets ; Economic Theory and Research ; Effective tax rates ; Emerging Markets ; Finance and Financial Sector Development ; Indirect taxation ; Macroeconomics and Economic Growth ; Poverty Impact Evaluation ; Poverty Reduction ; Private Sector Development ; Tax ; Tax collection ; Tax incidence ; Tax rate ; Tax rates ; Tax revenue ; Tax revenues ; Tax system ; Taxation and Subsidies ; Debt Markets ; Economic Theory and Research ; Effective tax rates ; Emerging Markets ; Finance and Financial Sector Development ; Indirect taxation ; Macroeconomics and Economic Growth ; Poverty Impact Evaluation ; Poverty Reduction ; Private Sector Development ; Tax ; Tax collection ; Tax incidence ; Tax rate ; Tax rates ; Tax revenue ; Tax revenues ; Tax system ; Taxation and Subsidies
    Abstract: Income inequality in Latin America ranks among the highest in the world. It can be traced back to the unequal distribution of assets (especially land and education) in the region. But the extent to which asset inequality translates into income inequality depends on the redistributive capacity of the state. This paper documents the performance of Latin American fiscal systems from the perspective of income redistribution using newly-available information on the incidence of taxes and transfers across the region. The findings indicate that: (i) the differences in income inequality before taxes and transfers between Latin America and Western Europe are much more modest than those after taxes and transfers; (ii) the key reason is that, in contrast with industrial countries, in most Latin American countries the fiscal system is of little help in reducing income inequality; and (iii) in countries where fiscal redistribution is significant, it is achieved mostly through transfers rather than taxes. These facts stress the need for fiscal reforms across the region to further the goal of social equity. However, different countries need to place different relative emphasis on raising tax collection, restructuring the tax system, and improving the targeting of expenditures
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  • 30
    Language: English
    Pages: Online-Ressource (1 online resource (71 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Saleth, R. Maria Quantifying Institutional Impacts And Development Synergies In Water Resource Programs
    Keywords: Agriculture ; Climate Change ; Development policy ; E-Business ; Econometric Analysis ; Econometric models ; Economic Theory and Research ; Economic implications ; Environment ; Equations ; Externalities ; Food and Beverage Industry ; Industry ; Macroeconomics and Economic Growth ; Political economy ; Poverty Reduction ; Private Sector Development ; Rural Development ; Rural Poverty Reduction ; Trade policy ; Utility maximization ; Agriculture ; Climate Change ; Development policy ; E-Business ; Econometric Analysis ; Econometric models ; Economic Theory and Research ; Economic implications ; Environment ; Equations ; Externalities ; Food and Beverage Industry ; Industry ; Macroeconomics and Economic Growth ; Political economy ; Poverty Reduction ; Private Sector Development ; Rural Development ; Rural Poverty Reduction ; Trade policy ; Utility maximization ; Agriculture ; Climate Change ; Development policy ; E-Business ; Econometric Analysis ; Econometric models ; Economic Theory and Research ; Economic implications ; Environment ; Equations ; Externalities ; Food and Beverage Industry ; Industry ; Macroeconomics and Economic Growth ; Political economy ; Poverty Reduction ; Private Sector Development ; Rural Development ; Rural Poverty Reduction ; Trade policy ; Utility maximization
    Abstract: The success of development programs, including water resource projects, depends on two key factors: the role of underlying institutions and the impact synergies from other closely related programs. Existing methodologies have limitations in accounting for these critical factors. This paper fills this gap by developing a methodology, which quantifies both the roles that institutions play in impact generation and the extent of impact synergies that flows from closely related programs within a unified framework. The methodology is applied to the Kala Oya Basin in Sri Lanka in order to evaluate the impacts of three water-related programs and the roles of 11 institutions in the context of food security. The results provide considerable insights on the relative role of institutions and the flow of development synergies both within and across different impact pathways. The methodology can also be used to locate slack in impact chains and identify policy options to enhance the impact flows
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  • 31
    Language: English
    Pages: Online-Ressource (1 online resource (35 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Fujii, Tomoki How Does Vietnam's Accession To The World Trade Organization Change The Spatial Incidence of Poverty?
    Keywords: Economic Theory and Research ; Incidence of Poverty ; Income ; Income distribution ; Inequality ; Macroeconomics and Economic Growth ; Poor ; Poor areas ; Poor households ; Poor people ; Poverty Monitoring and Analysis ; Poverty Reduction ; Poverty reduction ; Pro-Poor Growth ; Rural Development ; Rural Poverty Reduction ; Targeting ; Economic Theory and Research ; Incidence of Poverty ; Income ; Income distribution ; Inequality ; Macroeconomics and Economic Growth ; Poor ; Poor areas ; Poor households ; Poor people ; Poverty Monitoring and Analysis ; Poverty Reduction ; Poverty reduction ; Pro-Poor Growth ; Rural Development ; Rural Poverty Reduction ; Targeting ; Economic Theory and Research ; Incidence of Poverty ; Income ; Income distribution ; Inequality ; Macroeconomics and Economic Growth ; Poor ; Poor areas ; Poor households ; Poor people ; Poverty Monitoring and Analysis ; Poverty Reduction ; Poverty reduction ; Pro-Poor Growth ; Rural Development ; Rural Poverty Reduction ; Targeting
    Abstract: Trade policies can promote aggregate efficiency, but the ensuing structural adjustments generally create both winners and losers. From an incomes perspective, trade liberalization can raise gross domestic product per capita, but rates of emergence from poverty depend on individual household characteristics of economic participation and asset holding. To fully realize the growth potential of trade, while limiting the risk of rising inequality, policies need to better account for microeconomic heterogeneity. One approach to this is geographic targeting that shifts resources to poor areas. This study combines an integrated microsimulation-computable general equilibrium model with small area estimation to evaluate the spatial incidence of Vietnam's accession to the World Trade Organization. Provincial-level poverty reduction after full liberalization was heterogeneous, ranging from 2.2 percent to 14.3 percent. Full liberalization will benefit the poor on a national basis, but the northwestern area of Vietnam is likely to lag behind. Furthermore, poverty can be shown to increase under comparable scenarios
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  • 32
    Language: English
    Pages: Online-Ressource (1 online resource (48 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Mundlak, Yair Heterogeneous Technology And Panel Data
    Keywords: Agriculture ; Economic Theory and Research ; Economic growth ; Elasticity ; Elasticity of substitution ; Environment ; Environmental Economics and Policies ; Factor demand ; Macroeconomics and Economic Growth ; Production Function ; Production functions ; Productivity ; Productivity growth ; Total factor productivity ; Agriculture ; Economic Theory and Research ; Economic growth ; Elasticity ; Elasticity of substitution ; Environment ; Environmental Economics and Policies ; Factor demand ; Macroeconomics and Economic Growth ; Production Function ; Production functions ; Productivity ; Productivity growth ; Total factor productivity ; Agriculture ; Economic Theory and Research ; Economic growth ; Elasticity ; Elasticity of substitution ; Environment ; Environmental Economics and Policies ; Factor demand ; Macroeconomics and Economic Growth ; Production Function ; Production functions ; Productivity ; Productivity growth ; Total factor productivity
    Abstract: The paper presents empirical analysis of a panel of countries to estimate an agricultural production function using a measure of capital in agriculture absent from most studies. The authors employ a heterogeneous technology framework where implemented technology is chosen jointly with inputs to interpret information obtained in the empirical analysis of panel data. The paper discusses the scope for replacing country and time effects by observed variables and the limitations of instrumental variables. The empirical results differ from those reported in the literature for cross-country studies, largely in augmenting the role of capital, in combination with productivity gains, as a driver of agricultural growth. The results indicate that total factor productivity increased at an average rate of 3.2 percent, accounting for 59 percent of overall growth. Most of the remaining gains stem from large inflows of fixed capital into agriculture. The results also suggest possible constraints to fertilizer use
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  • 33
    Language: English
    Pages: Online-Ressource (1 online resource (36 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Keefer, Philip The Development Impact of The Illegality of Drug Trade
    Keywords: Conflict and Development ; Corruption ; Crime and Society ; Drug ; Drug Trade ; Drug trafficking ; Drugs ; Economic Theory and Research ; Health Monitoring and Evaluation ; Health, Nutrition and Population ; Macroeconomics and Economic Growth ; Markets and Market Access ; Narcotic ; Narcotic drug ; Narcotic drugs ; Organized crime ; Post Conflict Reconstruction ; Social Development ; Violence ; Conflict and Development ; Corruption ; Crime and Society ; Drug ; Drug Trade ; Drug trafficking ; Drugs ; Economic Theory and Research ; Health Monitoring and Evaluation ; Health, Nutrition and Population ; Macroeconomics and Economic Growth ; Markets and Market Access ; Narcotic ; Narcotic drug ; Narcotic drugs ; Organized crime ; Post Conflict Reconstruction ; Social Development ; Violence ; Conflict and Development ; Corruption ; Crime and Society ; Drug ; Drug Trade ; Drug trafficking ; Drugs ; Economic Theory and Research ; Health Monitoring and Evaluation ; Health, Nutrition and Population ; Macroeconomics and Economic Growth ; Markets and Market Access ; Narcotic ; Narcotic drug ; Narcotic drugs ; Organized crime ; Post Conflict Reconstruction ; Social Development ; Violence
    Abstract: This essay reviews many of the less considered consequences of the war on drugs, particularly the consequences for developing countries, and weighs them against the evidence that exists regarding the likely efficacy of current strategies to curb drug use and trade. The most important unintended consequences of drug prohibition are the following. First, the large demand for drugs, particularly in developed countries, generates the possibility of massive profits to potential drug providers. Since they cannot be organized freely and under the protection of the law, they resort to the formation of organized crime groups, using violence and corruption as their means of survival and expansion. In severe cases, the challenge to the state is such that public stability and safety are severely compromised. Second, prohibition and its derived illegal market imply the expropriation of endowments and resources used to produce and trade drugs. In many instances, this entails the transfer of wealth from poor to rich countries and from poor peasants to rich (and ruthless) traders. Third, criminalization can exacerbate the net health effects of drug use. These consequences are so pernicious that they call for a fundamental review of drug policy around the world
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  • 34
    Language: English
    Pages: Online-Ressource (1 online resource (35 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Coulibaly, Kalamogo Productivity Growth And Economic Reform
    Keywords: Competitiveness ; Currencies and Exchange Rates ; Debt Markets ; Development assistance ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial sector ; GDP ; Human capital ; Macroeconomics and Economic Growth ; Private Sector Development ; Production function ; Productivity ; Productivity Growth ; Total factor productivity ; Trade reforms ; Competitiveness ; Currencies and Exchange Rates ; Debt Markets ; Development assistance ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial sector ; GDP ; Human capital ; Macroeconomics and Economic Growth ; Private Sector Development ; Production function ; Productivity ; Productivity Growth ; Total factor productivity ; Trade reforms ; Competitiveness ; Currencies and Exchange Rates ; Debt Markets ; Development assistance ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial sector ; GDP ; Human capital ; Macroeconomics and Economic Growth ; Private Sector Development ; Production function ; Productivity ; Productivity Growth ; Total factor productivity ; Trade reforms
    Abstract: Trade, financial, and exchange rate reforms are shown to have exerted a positive impact on the growth of total factor productivity in Rwanda during the period 1995-2003. Based on a constant returns-to-scale Cobb-Douglas production function, this paper regresses total factor productivity on indices of trade, financial, and exchange rate reforms. The analysis determines that trade reforms and financial reforms each contributed positively to improvements in total factor productivity. The data also suggest that the allocation of official development assistance to human capital made a significant contribution to productivity. In contrast, the appreciation of the real exchange rate of the late 1980's hindered productivity or the growth of TFP. Taken together, the findings for Rwanda presented in this paper show that the strong growth of the past decade has not just been due to a "bounce back" effect following the genocide. The results support the notion that policies favorable to trade development, a deepening of the financial sector, and formation of human capital have been effective for increasing aggregate productivity of the economy and stimulating growth in Rwanda. For sustained growth, the Rwandan authorities should continue to build on these policies, while also taking care to maintain an appropriate exchange rate
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  • 35
    Language: English
    Pages: Online-Ressource (1 online resource (31 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Timilsina, Govinda R A General Equilibrium Analysis of Demand Side Management Programs Under The Clean Development Mechanism of The Kyoto Protocol
    Keywords: Clean energy ; Climate Change ; Climate change ; Cost of electricity ; Economic Theory and Research ; Electric utilities ; Electricity savings ; Emission ; Energy ; Energy Production and Transportation ; Energy and Environment ; Energy conservation ; Energy prices ; Environment ; Environment and Energy Efficiency ; Environmental consequences ; Macroeconomics and Economic Growth ; Price of electricity ; Clean energy ; Climate Change ; Climate change ; Cost of electricity ; Economic Theory and Research ; Electric utilities ; Electricity savings ; Emission ; Energy ; Energy Production and Transportation ; Energy and Environment ; Energy conservation ; Energy prices ; Environment ; Environment and Energy Efficiency ; Environmental consequences ; Macroeconomics and Economic Growth ; Price of electricity ; Clean energy ; Climate Change ; Climate change ; Cost of electricity ; Economic Theory and Research ; Electric utilities ; Electricity savings ; Emission ; Energy ; Energy Production and Transportation ; Energy and Environment ; Energy conservation ; Energy prices ; Environment ; Environment and Energy Efficiency ; Environmental consequences ; Macroeconomics and Economic Growth ; Price of electricity
    Abstract: This paper analyzes the economic and environmental consequences of a potential demand side management program in Thailand using a general equilibrium model. The program considers replacement of less efficient electrical appliances in the household sector with more efficient counterparts. The study further examines changes in the economic and environmental effects of the program if it is implemented under the clean development mechanism of the Kyoto Protocol, which provides carbon subsidies to the program. The study finds that the demand side management program would increase economic welfare if the ratio of unit cost of electricity savings to price of electricity is 0.4 or lower even in the absence of the clean development mechanism. If the program's ratio of unit cost of electricity savings to price of electricity is greater than 0.4, registration of the program under the clean development mechanism would be needed to achieve positive welfare impacts. The level of welfare impacts would, however, depend on the price of carbon credits the program generates. For a given level of welfare impacts, the registration of the demand side management program under the clean development mechanism would increase the volume of emission reductions
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  • 36
    Language: English
    Pages: Online-Ressource (1 online resource (39 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Ivaschenko, Oleksiy The Dynamics of Ownership of Durable Goods In Bulgaria
    Keywords: Assets ; Currencies and Exchange Rates ; Debt Markets ; Durable Goods ; Economic Theory and Research ; Economic growth ; Finance and Financial Sector Development ; Growth rate ; Income measures ; Macroeconomic policies ; Macroeconomics and Economic Growth ; National economy ; Per capita income ; Real GDP ; Wealth ; Assets ; Currencies and Exchange Rates ; Debt Markets ; Durable Goods ; Economic Theory and Research ; Economic growth ; Finance and Financial Sector Development ; Growth rate ; Income measures ; Macroeconomic policies ; Macroeconomics and Economic Growth ; National economy ; Per capita income ; Real GDP ; Wealth ; Assets ; Currencies and Exchange Rates ; Debt Markets ; Durable Goods ; Economic Theory and Research ; Economic growth ; Finance and Financial Sector Development ; Growth rate ; Income measures ; Macroeconomic policies ; Macroeconomics and Economic Growth ; National economy ; Per capita income ; Real GDP ; Wealth
    Abstract: The paper uses repeated cross-sections of Bulgaria's household survey data (1995, 1997, 2001, and 2003) and a comparable list of durable goods to investigate the dynamics and distribution of durable goods over time, including during the economic crisis of 1996-1997 and the subsequent period of relatively robust economic growth leading up to European Union membership. It examines the dynamics of the ownership of durable goods by wealth classes, geographic locations, and various ethnic groups, including the Roma. In the aggregate, there was convergence between the poorest and the richest classes in the ownership of durable goods between 1995 and 2003, with the poorest class making a significant gain between 2001 and 2003 after having lost some ground between 1995 and 2001. There was also convergence in the ownership of durable goods between urban and rural residents. However, there appear to be some diverging tendencies between Bulgarians and the minority ethnic groups, particularly in the ownership of relatively more expensive goods such as personal computers and cars
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  • 37
    Language: English
    Pages: Online-Ressource (1 online resource (73 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Rutherford, Thomas Regional Household And Poverty Effects of Russia's Accession To The World Trade Organization
    Keywords: Constant returns to scale ; Debt Markets ; E-Business ; Economic Theory and Research ; Emerging Markets ; Equilibrium ; Exports ; Finance and Financial Sector Development ; Gross domestic product ; Imperfect competition ; Income ; Investment and Investment Climate ; Macroeconomics and Economic Growth ; Open economy ; Private Sector Development ; Productivity ; WTO ; World Trade Organization ; Constant returns to scale ; Debt Markets ; E-Business ; Economic Theory and Research ; Emerging Markets ; Equilibrium ; Exports ; Finance and Financial Sector Development ; Gross domestic product ; Imperfect competition ; Income ; Investment and Investment Climate ; Macroeconomics and Economic Growth ; Open economy ; Private Sector Development ; Productivity ; WTO ; World Trade Organization ; Constant returns to scale ; Debt Markets ; E-Business ; Economic Theory and Research ; Emerging Markets ; Equilibrium ; Exports ; Finance and Financial Sector Development ; Gross domestic product ; Imperfect competition ; Income ; Investment and Investment Climate ; Macroeconomics and Economic Growth ; Open economy ; Private Sector Development ; Productivity ; WTO ; World Trade Organization
    Abstract: This paper develops a seven-region comparative static computable general equilibrium model of Russia to assess the impact of accession to the World Trade Organization on these seven regions (the federal okrugs) of Russia. In order to assess poverty and distributional impacts, the model includes ten households in each of the seven federal okrugs, where household data are taken from the Household Budget Survey of Rosstat. The model allows for foreign direct investment in business services and endogenous productivity effects from additional varieties of business services and goods, which the analysis shows are crucial to the results. National welfare gains are about 4.5 percent of gross domestic product in the model, but in a constant returns to scale model they are only 0.1 percent. All deciles of the population in all seven federal okrugs can be expected to significantly gain from Russian World Trade Organization accession, but due to the capacity of their regions to attract foreign direct investment, households in the Northwest region gain the most, followed by households in the Far East and Volga regions. Households in Siberia and the Urals gain the least. Distribution impacts within regions are rather flat for the first nine deciles; but the richest decile of the population in the three regions that attract a lot of foreign investment gains significantly more than the other nine representative households in those regions
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  • 38
    Language: English
    Pages: Online-Ressource (1 online resource (60 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: de Brauw, Alan Migrant Labor Markets And The Welfare of Rural Households In The Developing World
    Keywords: Consumption ; Debt Markets ; Economic Theory and Research ; Finance and Financial Sector Development ; Health, Nutrition and Population ; Household income ; Human Development ; Labor Markets ; Labor Policies ; Macroeconomics and Economic Growth ; Migrant ; Migration ; Policy ReseaRch ; Policy ReseaRch WoRking PaPeR ; Population Policies ; Progress ; Public Services ; Social Protections and Labor ; Urban migration ; Consumption ; Debt Markets ; Economic Theory and Research ; Finance and Financial Sector Development ; Health, Nutrition and Population ; Household income ; Human Development ; Labor Markets ; Labor Policies ; Macroeconomics and Economic Growth ; Migrant ; Migration ; Policy ReseaRch ; Policy ReseaRch WoRking PaPeR ; Population Policies ; Progress ; Public Services ; Social Protections and Labor ; Urban migration ; Consumption ; Debt Markets ; Economic Theory and Research ; Finance and Financial Sector Development ; Health, Nutrition and Population ; Household income ; Human Development ; Labor Markets ; Labor Policies ; Macroeconomics and Economic Growth ; Migrant ; Migration ; Policy ReseaRch ; Policy ReseaRch WoRking PaPeR ; Population Policies ; Progress ; Public Services ; Social Protections and Labor ; Urban migration
    Abstract: In this paper, the authors examine the impact of reductions in barriers to migration on the consumption of rural households in China. The authors find that increased migration from rural villages leads to significant increases in consumption per capita, and that this effect is stronger for poorer households within villages. Household income per capita and non-durable consumption per capita both increase with out-migration, and increase more for poorer households. The authors also establish a causal relationship between increased out-migration and investment in housing and durable goods assets, and these effects are also stronger for poorer households. The authors do not find robust evidence, however, to support a connection between increased migration and investment in productive activity. Instead, increased migration is associated with two significant changes for poorer households: increases both in the total labor supplied to productive activities and in the land per capita managed by the household. In examining the effect of migration, we pay considerable attention to developing and examining our identification strategy
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  • 39
    Language: English
    Pages: Online-Ressource (1 online resource (48 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Straub, Stephane Infrastructure And Development
    Keywords: Airports ; Banks and Banking Reform ; Bottlenecks ; Economic Theory and Research ; Elasticities ; Macroeconomics and Economic Growth ; Political Economy ; Public Sector Economics and Finance ; Railroads ; Roads ; Traffic ; Traffic congestion ; Transport ; Transport ; Transport Economics, Policy and Planning ; Vehicle ; Vehicle manufacturers ; Airports ; Banks and Banking Reform ; Bottlenecks ; Economic Theory and Research ; Elasticities ; Macroeconomics and Economic Growth ; Political Economy ; Public Sector Economics and Finance ; Railroads ; Roads ; Traffic ; Traffic congestion ; Transport ; Transport ; Transport Economics, Policy and Planning ; Vehicle ; Vehicle manufacturers ; Airports ; Banks and Banking Reform ; Bottlenecks ; Economic Theory and Research ; Elasticities ; Macroeconomics and Economic Growth ; Political Economy ; Public Sector Economics and Finance ; Railroads ; Roads ; Traffic ; Traffic congestion ; Transport ; Transport ; Transport Economics, Policy and Planning ; Vehicle ; Vehicle manufacturers
    Abstract: This survey reviews the existing macro-level empirical literature on the link between infrastructure and development outcomes in a critical light. After providing a general framework that casts the relevant terms of the controversy on the real effect of infrastructure on growth in the context of an aggregate production function, it signals what are the relevant empirical questions to be addressed. This guides the systematic review of a number of empirical studies and the discussion of the main econometric challenges to the identification of the effect of infrastructure on output and productivity. Finally, building on related research, in particular in contract theory and political economy, the paper spells out several promising research avenues
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  • 40
    Language: English
    Pages: Online-Ressource (1 online resource (69 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Anderson, Kym The Challenge of Reducing International Trade And Migration Barriers
    RVK:
    Keywords: Agriculture ; Air pollution ; Economic Theory and Research ; Economic benefits ; Emerging Markets ; Free Trade ; Free Trade ; Government subsidies ; International Economics & Trade ; International Trade ; Law and Development ; Macroeconomics and Economic Growth ; Private Sector Development ; Public Sector Development ; Trade Law ; Trade Policy ; Trade policies ; Trade policy ; WTO ; World Trade Organization ; Agriculture ; Air pollution ; Economic Theory and Research ; Economic benefits ; Emerging Markets ; Free Trade ; Free Trade ; Government subsidies ; International Economics & Trade ; International Trade ; Law and Development ; Macroeconomics and Economic Growth ; Private Sector Development ; Public Sector Development ; Trade Law ; Trade Policy ; Trade policies ; Trade policy ; WTO ; World Trade Organization ; Agriculture ; Air pollution ; Economic Theory and Research ; Economic benefits ; Emerging Markets ; Free Trade ; Free Trade ; Government subsidies ; International Economics & Trade ; International Trade ; Law and Development ; Macroeconomics and Economic Growth ; Private Sector Development ; Public Sector Development ; Trade Law ; Trade Policy ; Trade policies ; Trade policy ; WTO ; World Trade Organization
    Abstract: While barriers to trade in most goods and some services including capital flows have been reduced considerably over the past two decades, many remain. Such policies harm most the economies imposing them, but the worst of the merchandise barriers (in agriculture and textiles) are particularly harmful to the world's poorest people, as are barriers to worker migration across borders. This paper focuses on how costly those anti-poor trade policies are, and examines possible strategies to reduce remaining distortions. Two opportunities in particular are addressed: completing the Doha Development Agenda process at the World Trade Organization (WTO), and freeing up the international movement of workers. A review of the economic benefits and adjustment costs associated with these opportunities provides the foundation to undertake benefit/cost analysis required to rank this set of opportunities against those aimed at addressing the world's other key challenges as part of the Copenhagen Consensus project. The paper concludes with key caveats and suggests that taking up these opportunities could generate huge social benefit/cost ratios that are considerably higher than the direct economic ones quantified in this study, even without factoring in their contribution to alleviating several of the other challenges identified by that project, including malnutrition, disease, poor education and air pollution
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  • 41
    Language: English
    Pages: Online-Ressource (1 online resource (33 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Docquier, Frederic Is Migration A Good Substitute For Education Subsidies?
    Keywords: Brain drain ; Debt Markets ; Developing countries ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Health, Nutrition and Population ; Human capital ; Immigration ; Impact of migration ; International Migration ; Macroeconomics and Economic Growth ; Migration ; Policy ReseaRch ; Policy ReseaRch WoRking PaPeR ; Population Policies ; Private Sector Development ; Progress ; Skilled workers ; Social Development ; Brain drain ; Debt Markets ; Developing countries ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Health, Nutrition and Population ; Human capital ; Immigration ; Impact of migration ; International Migration ; Macroeconomics and Economic Growth ; Migration ; Policy ReseaRch ; Policy ReseaRch WoRking PaPeR ; Population Policies ; Private Sector Development ; Progress ; Skilled workers ; Social Development ; Brain drain ; Debt Markets ; Developing countries ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Health, Nutrition and Population ; Human capital ; Immigration ; Impact of migration ; International Migration ; Macroeconomics and Economic Growth ; Migration ; Policy ReseaRch ; Policy ReseaRch WoRking PaPeR ; Population Policies ; Private Sector Development ; Progress ; Skilled workers ; Social Development
    Abstract: Assuming a given educational policy, the recent brain drain literature reveals that skilled migration can boost the average level of schooling in developing countries. This paper introduces educational subsidies determined by governments concerned by the number of skilled workers remaining in the country. The theoretical analysis shows that developing countries can benefit from skilled emigration when educational subsidies entail high .fiscal distortions. However when taxes are not too distortionary, it is desirable to impede emigration and subsidize education. The authors investigate the empirical relationship between educational subsidies and migration prospects, obtaining a negative relationship for 105 countries. Based on this result, the analysis revisits the country specific effects of skilled migration upon human capital. The findings show that the endogeneity of public subsidies reduces the number of winners and increases the magnitude of the losses
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  • 42
    Language: English
    Pages: Online-Ressource (1 online resource (59 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Moreno-Dodson, Blanca Assessing the Impact of Public Spending on Growth
    Keywords: Allocation ; Composition of public spending ; Debt Markets ; Economic Theory and Research ; Finance and Financial Sector Development ; Fiscal policy ; Government expenditure ; Inequality ; Macroeconomics and Economic Growth ; Poverty Reduction ; Poverty reduction ; Pro-Poor Growth ; Public Sector Economics and Finance ; Public Sector Expenditure Analysis and Management ; Public disclosure ; Public expenditure ; Public finance ; Public spending ; Uncertaint ; Allocation ; Composition of public spending ; Debt Markets ; Economic Theory and Research ; Finance and Financial Sector Development ; Fiscal policy ; Government expenditure ; Inequality ; Macroeconomics and Economic Growth ; Poverty Reduction ; Poverty reduction ; Pro-Poor Growth ; Public Sector Economics and Finance ; Public Sector Expenditure Analysis and Management ; Public disclosure ; Public expenditure ; Public finance ; Public spending ; Uncertaint ; Allocation ; Composition of public spending ; Debt Markets ; Economic Theory and Research ; Finance and Financial Sector Development ; Fiscal policy ; Government expenditure ; Inequality ; Macroeconomics and Economic Growth ; Poverty Reduction ; Poverty reduction ; Pro-Poor Growth ; Public Sector Economics and Finance ; Public Sector Expenditure Analysis and Management ; Public disclosure ; Public expenditure ; Public finance ; Public spending ; Uncertaint
    Abstract: The goal of this paper is to understand better, at the empirical level, how public spending contributes to growth by focusing on both the level and composition of public spending, in connection to the dynamics of GDP per capita growth. It attempts to answer two specific questions: (a) What are the policy conditions under which public spending contributes positively to growth? and (b) What are the public spending components that have a stronger and longer-lasting impact on growth? The analysis is applied to a sample of seven fast-growing developing countries: Korea, Singapore, Malaysia, Thailand, Indonesia, Botswana, and Mauritius, which have been among the top performers in the world in terms of GDP per capita growth during the period (1960-2006). The rationale for this country sample selection is twofold. The first hypothesis is that, given their positive growth achievements over a relatively long time period, perhaps it is more straightforward to establish a link to public spending in those countries. Second, it is expected that the findings of the analysis will provide lessons regarding the level and composition of public spending that can be useful for other countries where growth has been less rapid. Assessing what role public spending has played in a dynamic growth context may indeed be enlightening for other cases as well. The paper is structured as follows. The first section is an introduction that provides relevant facts and information about the seven countries during the period of analysis, based on seven individual country case studies. Section II presents the theoretical background behind the empirical analysis. Section III focuses on the empirical methodology, function specification, and variables selected. Section IV is dedicated to the results obtained with the cross-country analysis and some specific country results, as well as some comparisons with previous findings by other authors. Finally, Section V draws policy implications and concludes
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  • 43
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (52 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Brunner, Gregory Gordon The Market For Retirement Products In Australia
    Keywords: Bankruptcy and Resolution of Financial Distress ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial markets ; Financial savings ; Financial systems ; Home ownership ; International bank ; Investment and Investment Climate ; Labor Policies ; Life insurance ; Life insurance companies ; Macroeconomics and Economic Growth ; Pension ; Pensions and Retirement Systems ; Private Sector Development ; Prudential regulation ; Safety net ; Social Protections and Labor ; Bankruptcy and Resolution of Financial Distress ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial markets ; Financial savings ; Financial systems ; Home ownership ; International bank ; Investment and Investment Climate ; Labor Policies ; Life insurance ; Life insurance companies ; Macroeconomics and Economic Growth ; Pension ; Pensions and Retirement Systems ; Private Sector Development ; Prudential regulation ; Safety net ; Social Protections and Labor ; Bankruptcy and Resolution of Financial Distress ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial markets ; Financial savings ; Financial systems ; Home ownership ; International bank ; Investment and Investment Climate ; Labor Policies ; Life insurance ; Life insurance companies ; Macroeconomics and Economic Growth ; Pension ; Pensions and Retirement Systems ; Private Sector Development ; Prudential regulation ; Safety net ; Social Protections and Labor
    Abstract: Australia introduced a mandatory retirement savings scheme in 1992. This built on pre-existing voluntary occupational plans. The new scheme has been very successful in expanding coverage and mobilizing large financial savings that are equal to close to 100 percent of GDP. However, Australia does not impose restrictions on payout options. The payout phase used to be dominated by lump sum withdrawals, which accounted for 80 percent of benefit payments as recently as 2002. But pension payments increased in recent years and now represent 45 percent of total payments. The vast majority of these pension payments take the form of term annuities and allocated annuities. The latter are similar to phased withdrawals in Chile but run for fixed terms of up to 25 years rather than for lifetime terms. The demand for life annuities and lifetime phased withdrawals is very limited. The paper discusses the factors that have shaped the pattern of demand for retirement products, including the availability of the universal age pension and the effect of clawback provisions, the impact of the high level of home ownership, and the widespread preference of retiring workers for reliance on self-annuitization. The paper also reviews the prudential regulation of superannuation funds and life insurance companies
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  • 44
    Language: English
    Pages: Online-Ressource (1 online resource (35 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Milanovic, Branko Reform And Inequality During The Transition
    Keywords: Country fixed effects ; Debt Markets ; Distribution of income ; Economic Theory and Research ; Economic reform ; Emerging Markets ; Finance and Financial Sector Development ; Globalization ; Income ; Inequality ; Investment and Investment Climate ; Labor markets ; Liberalization ; Macroeconomics and Economic Growth ; Market economy ; Poverty Impact Evaluation ; Poverty Reduction ; Private Sector Development ; Privatization ; Pro-Poor Growth ; Services and Transfers to Poor ; Transition countries ; Country fixed effects ; Debt Markets ; Distribution of income ; Economic Theory and Research ; Economic reform ; Emerging Markets ; Finance and Financial Sector Development ; Globalization ; Income ; Inequality ; Investment and Investment Climate ; Labor markets ; Liberalization ; Macroeconomics and Economic Growth ; Market economy ; Poverty Impact Evaluation ; Poverty Reduction ; Private Sector Development ; Privatization ; Pro-Poor Growth ; Services and Transfers to Poor ; Transition countries ; Country fixed effects ; Debt Markets ; Distribution of income ; Economic Theory and Research ; Economic reform ; Emerging Markets ; Finance and Financial Sector Development ; Globalization ; Income ; Inequality ; Investment and Investment Climate ; Labor markets ; Liberalization ; Macroeconomics and Economic Growth ; Market economy ; Poverty Impact Evaluation ; Poverty Reduction ; Private Sector Development ; Privatization ; Pro-Poor Growth ; Services and Transfers to Poor ; Transition countries
    Abstract: Using for the first time household survey data from 26 post-Communist countries, covering the period 1990-2005, this paper examines correlates of unprecedented increases in inequality registered by most of the economies. The analysis shows, after controlling for country fixed effects and type of survey used, that economic reform is strongly negatively associated with the income share of the bottom decile, and positively with the income shares of the top two deciles. However, breaking economic reform into its component parts, the picture is more nuanced. Large-scale privatization and infrastructure reform (mostly consisting of privatization and higher fees) are responsible for the pro-inequality effect; small-scale privatization tends to raise the income shares of the bottom deciles. Acceleration in growth is also pro-rich. But democratization is strongly pro-poor, as is lower inflation. Somewhat surprisingly, the analysis finds no evidence that greater government spending as share of gross domestic income reduces inequality
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  • 45
    Language: English
    Pages: Online-Ressource (1 online resource (31 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Deininger, Klaus Land Rental Markets In The Process of Rural Structural Transformation
    Keywords: Banks and Banking Reform ; Distribution Of Income ; Economic Theory and Research ; Employment ; Equalization ; Labor Policies ; Land Use ; Macroeconomics and Economic Growth ; Mandates ; Migration ; Moral Hazard ; Political Economy ; Productivity ; Rural Development Knowledge and Information Systems ; Social Protections and Labor ; Transaction Costs ; Urban Development ; Banks and Banking Reform ; Distribution Of Income ; Economic Theory and Research ; Employment ; Equalization ; Labor Policies ; Land Use ; Macroeconomics and Economic Growth ; Mandates ; Migration ; Moral Hazard ; Political Economy ; Productivity ; Rural Development Knowledge and Information Systems ; Social Protections and Labor ; Transaction Costs ; Urban Development ; Banks and Banking Reform ; Distribution Of Income ; Economic Theory and Research ; Employment ; Equalization ; Labor Policies ; Land Use ; Macroeconomics and Economic Growth ; Mandates ; Migration ; Moral Hazard ; Political Economy ; Productivity ; Rural Development Knowledge and Information Systems ; Social Protections and Labor ; Transaction Costs ; Urban Development
    Abstract: The importance of land rental for overall economic development has long been recognized in theory, yet empirical evidence on the productivity and equity impacts of such markets and the extent to which they realize their potential has been scant. Representative data from China's nine most important agricultural provinces illustrate the impact of rental markets on households' economic strategies and welfare, and the productivity of land use at the plot level. Although there are positive impacts in each of these dimensions, transaction costs constrain participation by many producers, thus preventing rental markets from attaining their full potential. The paper identifies factors that increase transaction costs and provides a rough estimate of the productivity and equity impacts of removing them
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  • 46
    Language: English
    Pages: Online-Ressource (1 online resource (33 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Melecky, Martin An Alternative Framework For Foreign Exchange Risk Management of Sovereign Debt
    Keywords: Currencies and Exchange Rates ; Currency ; Debt Management ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Exchange Rate ; Finance and Financial Sector Development ; Fiscal and Monetary Policy ; Foreign Debt ; Foreign Exchange ; Foreign Exchange Risk ; Inflation ; Interest Rate ; Macroeconomics and Economic Growth ; Private Sector Development ; Public Sector Development ; Risk Management ; Sovereign Debt ; Currencies and Exchange Rates ; Currency ; Debt Management ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Exchange Rate ; Finance and Financial Sector Development ; Fiscal and Monetary Policy ; Foreign Debt ; Foreign Exchange ; Foreign Exchange Risk ; Inflation ; Interest Rate ; Macroeconomics and Economic Growth ; Private Sector Development ; Public Sector Development ; Risk Management ; Sovereign Debt ; Currencies and Exchange Rates ; Currency ; Debt Management ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Exchange Rate ; Finance and Financial Sector Development ; Fiscal and Monetary Policy ; Foreign Debt ; Foreign Exchange ; Foreign Exchange Risk ; Inflation ; Interest Rate ; Macroeconomics and Economic Growth ; Private Sector Development ; Public Sector Development ; Risk Management ; Sovereign Debt
    Abstract: This paper proposes a measure of synchronization in the movements of relevant domestic and foreign fundamentals for choosing suitable currency for denomination of foreign debt. The selection of explanatory variables for exchange rate volatility is motivated using a New Keynesian Policy model. The model predicts that not only traditional optimal currency area variables, but also variables considered by the literature on currency preferences, such as money velocity, should be relevant for explaining exchange rate volatility. The findings show that measures of inflation synchronization, money velocity synchronization, and interest rate synchronization can be useful indicators for decisions on the currency denomination of foreign debt
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  • 47
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (34 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Demirguc-Kunt, Asli Finance And Economic Opportunity
    Keywords: Access to Finance ; Banks and Banking Reform ; Debt Markets ; Economic Opportunities ; Economic Opportunity ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Markets ; Financial Services ; Financial System ; Financial Systems ; Formal Financial Sector ; Households ; Inequality ; Macroeconomics and Economic Growth ; Private Sector Development ; Small Enterprises ; Access to Finance ; Banks and Banking Reform ; Debt Markets ; Economic Opportunities ; Economic Opportunity ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Markets ; Financial Services ; Financial System ; Financial Systems ; Formal Financial Sector ; Households ; Inequality ; Macroeconomics and Economic Growth ; Private Sector Development ; Small Enterprises ; Access to Finance ; Banks and Banking Reform ; Debt Markets ; Economic Opportunities ; Economic Opportunity ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Markets ; Financial Services ; Financial System ; Financial Systems ; Formal Financial Sector ; Households ; Inequality ; Macroeconomics and Economic Growth ; Private Sector Development ; Small Enterprises
    Abstract: An influential body of theoretical research and an emerging line of empirical work suggest that the operation of the formal financial system affects the degree to which economic opportunities are defined by talent and initiative rather than by parental wealth and social connections. This paper discusses the theory of how financial markets influence economic opportunity and reviews recent empirical work on the relation between formal financial systems and poverty, income inequality, and economic opportunity. The authors consider recent efforts to measure the ability of households and small enterprises to access financial services, the impact of this access, and the mechanisms through which finance affects poverty and inequality. The authors argue that considerably more research is needed to identify which formal financial sector policies enhance the operation of the financial system in ways that expand the economic horizons of the economically disenfranchised
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  • 48
    Language: English
    Pages: Online-Ressource (1 online resource (34 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Amurgo-Pacheco, Alberto Patterns of Export Diversification In Developing Countries
    Keywords: Econometric Analysis ; Economic Structure ; Economic Theory and Research ; Emerging Markets ; Export Growth ; Exports ; Free Trade ; Free Trade ; Future Research ; GDP ; Industrialization ; International Economics & Trade ; International Trade ; Macroeconomics and Economic Growth ; Poverty Reduction ; Private Sector Development ; Pro-Poor Growth ; Public Sector Development ; Trade Policy ; Underestimates ; Econometric Analysis ; Economic Structure ; Economic Theory and Research ; Emerging Markets ; Export Growth ; Exports ; Free Trade ; Free Trade ; Future Research ; GDP ; Industrialization ; International Economics & Trade ; International Trade ; Macroeconomics and Economic Growth ; Poverty Reduction ; Private Sector Development ; Pro-Poor Growth ; Public Sector Development ; Trade Policy ; Underestimates ; Econometric Analysis ; Economic Structure ; Economic Theory and Research ; Emerging Markets ; Export Growth ; Exports ; Free Trade ; Free Trade ; Future Research ; GDP ; Industrialization ; International Economics & Trade ; International Trade ; Macroeconomics and Economic Growth ; Poverty Reduction ; Private Sector Development ; Pro-Poor Growth ; Public Sector Development ; Trade Policy ; Underestimates
    Abstract: This paper uses highly disaggregated trade data to investigate geographic and product diversification patterns across a group of developing nations for the period from 1990 to 2005. The econometric investigation shows that the gravity equation fits the observed differences in diversification across nations. The analysis shows that exports at the intensive margin account for the most important share of overall trade growth. At the extensive margin, geographic diversification is more important than product diversification, especially for developing countries. Taking part in free trade agreements, thereby reducing trade costs, and trading with countries in the North are also found to have positive impacts on export diversification for developing countries
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  • 49
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (46 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Porto, Guido Agro-Manufactured Export Prices, Wages And Unemployment
    Keywords: Adjustment costs ; Economic Theory and Research ; Employment probability ; Expected wages ; High unemployment ; High unemployment rates ; Labor Markets ; Labor Policies ; Labor demand ; Labor market ; Labor supply ; Macroeconomics and Economic Growth ; Markets and Market Access ; Social Protections and Labor ; Unemployment ; Unemployment rate ; Adjustment costs ; Economic Theory and Research ; Employment probability ; Expected wages ; High unemployment ; High unemployment rates ; Labor Markets ; Labor Policies ; Labor demand ; Labor market ; Labor supply ; Macroeconomics and Economic Growth ; Markets and Market Access ; Social Protections and Labor ; Unemployment ; Unemployment rate ; Adjustment costs ; Economic Theory and Research ; Employment probability ; Expected wages ; High unemployment ; High unemployment rates ; Labor Markets ; Labor Policies ; Labor demand ; Labor market ; Labor supply ; Macroeconomics and Economic Growth ; Markets and Market Access ; Social Protections and Labor ; Unemployment ; Unemployment rate
    Abstract: This paper estimates the impacts of world agricultural trade liberalization on wages, employment and unemployment in Argentina, a country with positive net agricultural exports and high unemployment rates. In the estimation of these wage and unemployment responses, the empirical model allows for individual labor supply responses and for adjustment costs in labor demand. The findings show that a 10 percent increase in the price of agricultural exports would cause an increase in the Argentine employment probability of 1.36 percentage points, matched by a decline in the unemployment probability of 0.75 percentage points and an increase in labor market participation of 0.61 percentage points. Further, the unemployment rate would decline by 1.23 percentage points (by almost 10 percent). Expected wages would increase by 10.3 percent, an effect that is mostly driven by higher employment probabilities. This indicates that the bulk of the impacts of trade reforms originates in household responses in the presence of adjustment costs, and that failure to account for them may lead to significant biases in the welfare evaluation of trade policy
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  • 50
    Language: English
    Pages: Online-Ressource (1 online resource (45 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Ventura, Luigi Risk Sharing Opportunities And Macroeconomic Factors In Latin American And Caribbean Countries
    Keywords: Aggregate consumption ; Aggregate income ; Consumption ; Consumption growth ; Currencies and Exchange Rates ; Domestic consumption ; Economic Theory and Research ; Finance and Financial Sector Development ; Financial Intermediation ; Growth rates ; Income growth ; Inequality ; Levels of investments ; Macroeconomics and Economic Growth ; National income ; Poverty Reduction ; Public expenditure ; Trade openness ; Aggregate consumption ; Aggregate income ; Consumption ; Consumption growth ; Currencies and Exchange Rates ; Domestic consumption ; Economic Theory and Research ; Finance and Financial Sector Development ; Financial Intermediation ; Growth rates ; Income growth ; Inequality ; Levels of investments ; Macroeconomics and Economic Growth ; National income ; Poverty Reduction ; Public expenditure ; Trade openness ; Aggregate consumption ; Aggregate income ; Consumption ; Consumption growth ; Currencies and Exchange Rates ; Domestic consumption ; Economic Theory and Research ; Finance and Financial Sector Development ; Financial Intermediation ; Growth rates ; Income growth ; Inequality ; Levels of investments ; Macroeconomics and Economic Growth ; National income ; Poverty Reduction ; Public expenditure ; Trade openness
    Abstract: This paper evaluates the degree of consumption insurance enjoyed by Latin American and Caribbean countries, with respect to various reference areas, by estimating a parameter expressing the sensitivity of a country's consumption growth to a measure of idiosyncratic shocks to income. The paper surveys common econometric implementations of "consumption insurance tests." The author proposes some econometric procedures in order to detect the actual presence of international risk sharing, as well as to assess the relative impact of idiosyncratic versus aggregate shocks. The evidence suggests that Latin American and Caribbean economies have been hit by non-diversifiable income shocks, that idiosyncratic risk is relatively more important than aggregate risk, and that some countries in the region appear to enjoy a certain amount of international risk diversification. The paper also identifies some macroeconomic factors that may be responsible for a higher or lower degree of risk pooling (such as international openness, financial depth, and credit availability). The findings show that the financial development of an economy is a crucial factor in determining the amount of risk sharing opportunities, as well as public expenditure. The preliminary results also suggest that trade openness and shocks to terms of trade play an important role in determining the degree of insurability of such risks
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  • 51
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (27 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Kim, Aehyung Decentralization And The Provision of Public Services
    Keywords: Banks and Banking Reform ; Debt Markets ; Decentralization ; Distribution of income ; Economic Theory and Research ; Employment ; Finance and Financial Sector Development ; Fiscal Federalism ; Income distribution ; Intergovernmental Fiscal Relations and Local Finance Management ; Local government ; Macroeconomics and Economic Growth ; Privatization ; Public Sector Economics and Finance ; Public Services ; Public service provision ; Revenue sources ; Banks and Banking Reform ; Debt Markets ; Decentralization ; Distribution of income ; Economic Theory and Research ; Employment ; Finance and Financial Sector Development ; Fiscal Federalism ; Income distribution ; Intergovernmental Fiscal Relations and Local Finance Management ; Local government ; Macroeconomics and Economic Growth ; Privatization ; Public Sector Economics and Finance ; Public Services ; Public service provision ; Revenue sources ; Banks and Banking Reform ; Debt Markets ; Decentralization ; Distribution of income ; Economic Theory and Research ; Employment ; Finance and Financial Sector Development ; Fiscal Federalism ; Income distribution ; Intergovernmental Fiscal Relations and Local Finance Management ; Local government ; Macroeconomics and Economic Growth ; Privatization ; Public Sector Economics and Finance ; Public Services ; Public service provision ; Revenue sources
    Abstract: This paper discusses decentralization (administrative, fiscal and political) of government in public service provision. It aims to facilitate understanding among practitioners, policy makers, and scholars about what decentralization entails in practice compared to theory. A review of the empirical literature and experience of decentralization is presented. The paper highlights issues that policy makers in developing and transitional countries should be aware of when reforming government, considering their unique political and economic environment. The author argues that decentralization produces efficiency gains stemming from inter-jurisdictional competition, enhanced checks and balances over the government through voting at the subnational level, and informational advantages due to proximity to citizens. By contrast, arguments against decentralization include the risk of an increased level of corruption, coordination problems stemming from multiple layers of government, low capacity of subnational government, and unproductive inter-jurisdictional competition. Decentralization itself does not render increased government effectiveness in public service provision. Instead, the effectiveness of government largely depends on the quality of human capital and institutions
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  • 52
    Language: English
    Pages: Online-Ressource (1 online resource (38 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Francisco, Manuela Measuring The Performance And Achievement of Social Objectives of Development Finance Institutions
    Keywords: Access to Finance ; Access to financial services ; Banks ; Banks and Banking Reform ; Debt Markets ; Demand for credit ; Development Finance ; Development Finance Institutions ; Development finance institution ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial intermediaries ; Financial sector development ; International Bank ; Macroeconomics and Economic Growth ; Private Sector Development ; Social welfare ; Access to Finance ; Access to financial services ; Banks ; Banks and Banking Reform ; Debt Markets ; Demand for credit ; Development Finance ; Development Finance Institutions ; Development finance institution ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial intermediaries ; Financial sector development ; International Bank ; Macroeconomics and Economic Growth ; Private Sector Development ; Social welfare ; Access to Finance ; Access to financial services ; Banks ; Banks and Banking Reform ; Debt Markets ; Demand for credit ; Development Finance ; Development Finance Institutions ; Development finance institution ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial intermediaries ; Financial sector development ; International Bank ; Macroeconomics and Economic Growth ; Private Sector Development ; Social welfare
    Abstract: This paper develops and tests a proposed methodology that puts forward a new integrated method for evaluating the performance of development finance institutions. This methodology applies assessment criteria that take into account both the social objective that the development finance institution addresses and the subsidies it received in order to achieve such an objective. This methodology is applied to two pilot case studies-Banadesa (Honduras) and Banrural (Guatemala). The authors calculate the previously tested subsidy dependence index, which measures the degree of an institution's subsidy dependence. The paper develops and estimates a new measure-the output index- which indicates the level to which the institution fulfills the social objectives of the state. The analysis integrates the subsidy dependence index and the output index to assess the effectiveness associated with meeting the social objective. The findings suggest that the integration of the two indexes can constitute the basis of a meaningful evaluation framework for the performance of development finance institutions. This new methodology can also be a useful metric for policy makers who are seeking to decide on an optimal allocation of scarce funds for development finance institutions that pursue social goals and for management that seeks improved performance outcomes
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  • 53
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (30 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Avalos, Marcos An Empirical Analysis of Mexican Merger Policy
    Keywords: Bankruptcy and Resolution of Financial Distress ; Competition law ; Competition policy ; Competitors ; Economic Theory and Research ; Employment ; Finance and Financial Sector Development ; Firms ; Foreign company ; Labor Policies ; Lawyers ; Macroeconomics and Economic Growth ; Markets and Market Access ; Merger ; Merger control ; Mergers ; Microfinance ; Social Protections and Labor ; Bankruptcy and Resolution of Financial Distress ; Competition law ; Competition policy ; Competitors ; Economic Theory and Research ; Employment ; Finance and Financial Sector Development ; Firms ; Foreign company ; Labor Policies ; Lawyers ; Macroeconomics and Economic Growth ; Markets and Market Access ; Merger ; Merger control ; Mergers ; Microfinance ; Social Protections and Labor ; Bankruptcy and Resolution of Financial Distress ; Competition law ; Competition policy ; Competitors ; Economic Theory and Research ; Employment ; Finance and Financial Sector Development ; Firms ; Foreign company ; Labor Policies ; Lawyers ; Macroeconomics and Economic Growth ; Markets and Market Access ; Merger ; Merger control ; Mergers ; Microfinance ; Social Protections and Labor
    Abstract: A newly created dataset including 239 decisions made by the Mexican Federal Competition Commission on horizontal mergers between 1997 and 2001 is used to estimate the different factors affecting the Commission's resolution. The paper approximates the decision making process using two different discrete choice models. The results indicate that, contrary to the Commission's objective, the presence of efficiency gains increases the probability of a case being issued. The findings also show that factors different from the ones explicitly mentioned by the Commission have a significant effect on the Commission's final decision. In particular, the presence of a foreign company among the would-be merger firms significantly increases the likelihood of observing an allowed merger
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  • 54
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (55 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Fafchamps, Marcel Isolation And Subjective Welfare
    DDC: 360
    Keywords: Air ; Consumption ; Economic Theory and Research ; Externalities ; Health Monitoring and Evaluation ; Health, Nutrition and Population ; Inequality ; Macroeconomics and Economic Growth ; Mobility ; Poverty Reduction ; Road ; Roads ; Transport ; Transport ; Transport Economics, Policy and Planning ; Transport costs ; Travel time ; Travel times ; True ; Air ; Consumption ; Economic Theory and Research ; Externalities ; Health Monitoring and Evaluation ; Health, Nutrition and Population ; Inequality ; Macroeconomics and Economic Growth ; Mobility ; Poverty Reduction ; Road ; Roads ; Transport ; Transport ; Transport Economics, Policy and Planning ; Transport costs ; Travel time ; Travel times ; True ; Air ; Consumption ; Economic Theory and Research ; Externalities ; Health Monitoring and Evaluation ; Health, Nutrition and Population ; Inequality ; Macroeconomics and Economic Growth ; Mobility ; Poverty Reduction ; Road ; Roads ; Transport ; Transport ; Transport Economics, Policy and Planning ; Transport costs ; Travel time ; Travel times ; True
    Abstract: Using detailed geographical and household survey data from Nepal, this article investigates the relationship between isolation and subjective welfare. This is achieved by examining how distance to markets and proximity to large urban centers are associated with responses to questions about income and consumption adequacy. Results show that isolation is associated with a significant reduction in subjective assessments of income and consumption adequacy, even after controlling for consumption expenditures and other factors. The reduction in subjective welfare associated with isolation is much larger for households that are already relatively close to markets. These findings suggest that welfare assessments based on monetary income and consumption may seriously underestimate the subjective welfare cost of isolation, and hence will tend to bias downward the assessment of benefits to isolation-reducing investments such as roads and communication infrastructure
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  • 55
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (35 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Ravallion, Martin Evaluation In The Practice of Development
    Keywords: Beneficiaries ; Counterfactual ; Economic Theory and Research ; Education ; Impact assessment ; Impact evaluation ; Infrastructure projects ; Intervention ; Learning ; Macroeconomics and Economic Growth ; Poverty Monitoring and Analysis ; Poverty Reduction ; Poverty outcomes ; Programs ; Science Education ; Science and Technology Development ; Scientific Research and Science Parks ; Targeting ; Tertiary Education ; Beneficiaries ; Counterfactual ; Economic Theory and Research ; Education ; Impact assessment ; Impact evaluation ; Infrastructure projects ; Intervention ; Learning ; Macroeconomics and Economic Growth ; Poverty Monitoring and Analysis ; Poverty Reduction ; Poverty outcomes ; Programs ; Science Education ; Science and Technology Development ; Scientific Research and Science Parks ; Targeting ; Tertiary Education ; Beneficiaries ; Counterfactual ; Economic Theory and Research ; Education ; Impact assessment ; Impact evaluation ; Infrastructure projects ; Intervention ; Learning ; Macroeconomics and Economic Growth ; Poverty Monitoring and Analysis ; Poverty Reduction ; Poverty outcomes ; Programs ; Science Education ; Science and Technology Development ; Scientific Research and Science Parks ; Targeting ; Tertiary Education
    Abstract: Knowledge about development effectiveness is constrained by two factors. First, the project staff in governments and international agencies who decide how much to invest in research on specific interventions are often not well informed about the returns to rigorous evaluation and (even when they are) cannot be expected to take full account of the external benefits to others from new knowledge. This leads to under-investment in evaluative research. Second, while standard methods of impact evaluation are useful, they often leave many questions about development effectiveness unanswered. The paper proposes ten steps for making evaluations more relevant to the needs of practitioners. It is argued that more attention needs to be given to identifying policy-relevant questions (including the case for intervention); that a broader approach should be taken to the problems of internal validity; and that the problems of external validity (including scaling up) merit more attention
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  • 56
    Language: English
    Pages: Online-Ressource (1 online resource (40 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Le, Tuan Minh Expanding Taxable Capacity And Reaching Revenue Potential
    Keywords: Debt Markets ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Macroeconomics and Economic Growth ; Private Sector Development ; Public Sector Economics and Finance ; Tax ; Tax Policy ; Tax administration ; Tax base ; Tax collection ; Tax expenditures ; Tax reforms ; Tax revenues ; Tax system ; Taxation ; Taxation and Subsidies ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Macroeconomics and Economic Growth ; Private Sector Development ; Public Sector Economics and Finance ; Tax ; Tax Policy ; Tax administration ; Tax base ; Tax collection ; Tax expenditures ; Tax reforms ; Tax revenues ; Tax system ; Taxation ; Taxation and Subsidies ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Macroeconomics and Economic Growth ; Private Sector Development ; Public Sector Economics and Finance ; Tax ; Tax Policy ; Tax administration ; Tax base ; Tax collection ; Tax expenditures ; Tax reforms ; Tax revenues ; Tax system ; Taxation ; Taxation and Subsidies
    Abstract: An effective tax system is fundamental for successful country development. The first step to understand public revenue systems is to establish some commonly agreed performance measurements and benchmarks. This paper employs a cross-country study to estimate tax capacity from a sample of 104 countries during 1994-2003. The estimation results are then used as benchmarks to compare taxable capacity and tax effort in different countries. Taxable capacity refers to the predicted tax-gross domestic product ratio that can be estimated with the regression, taking into account a country's specific economic, demographic, and institutional features. Tax effort is defined as an index of the ratio between the share of the actual tax collection in gross domestic product and the predicted taxable capacity. The authors classify countries into four distinct groups by their level of actual tax collection and attained tax effort. This classification is based on the benchmark of the global average of tax collection and a tax effort index of 1 (when tax collection is exactly the same as the estimated taxable capacity). The analysis provides guidance for countries with various levels of tax collection and tax effort
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  • 57
    Language: English
    Pages: Online-Ressource (1 online resource (27 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Chumacero, Romulo A Evo, Pablo, Tony, Diego, and Sonny
    Keywords: Consumers ; Consumption ; Currencies and Exchange Rates ; Debt Markets ; Economic Theory and Research ; Equilibrium ; Finance and Financial Sector Development ; General Equilibrium Analysis ; Government expenditures ; Growth rate ; Macroeconomics ; Macroeconomics and Economic Growth ; Markets and Market Access ; Optimization ; Production function ; Production functions ; Utility function ; Consumers ; Consumption ; Currencies and Exchange Rates ; Debt Markets ; Economic Theory and Research ; Equilibrium ; Finance and Financial Sector Development ; General Equilibrium Analysis ; Government expenditures ; Growth rate ; Macroeconomics ; Macroeconomics and Economic Growth ; Markets and Market Access ; Optimization ; Production function ; Production functions ; Utility function ; Consumers ; Consumption ; Currencies and Exchange Rates ; Debt Markets ; Economic Theory and Research ; Equilibrium ; Finance and Financial Sector Development ; General Equilibrium Analysis ; Government expenditures ; Growth rate ; Macroeconomics ; Macroeconomics and Economic Growth ; Markets and Market Access ; Optimization ; Production function ; Production functions ; Utility function
    Abstract: This paper presents a general equilibrium model for the production, trafficking, and consumption of illegal drugs which endogenously determines relative prices and quantities. The model is calibrated to characterize the market for cocaine and is used to analyze the effects of three types of policies: making the illegal activities riskier, increasing the penalties for conducting illegal activities, and legalizing previously illegal activities. Assessing the effects of these policies using the powerful tool of a general equilibrium model provides illuminating (and in cases surprising) results
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  • 58
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (34 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Amin, Mohammad Human Capital And The Changing Structure of The Indian Economy
    DDC: 330
    RVK:
    Keywords: Agriculture ; Development Economics ; Development policy ; E-Business ; Econometric analysis ; Economic Theory and Research ; Economics Research ; GDP ; GDP per capita ; Health, Nutrition and Population ; Human Capital ; Macroeconomics and Economic Growth ; Population Policies ; Poverty Reduction ; Private Sector Development ; Pro-Poor Growth ; Productivity growth ; Transport ; Transport Economics, Policy and Planning ; Value added ; Agriculture ; Development Economics ; Development policy ; E-Business ; Econometric analysis ; Economic Theory and Research ; Economics Research ; GDP ; GDP per capita ; Health, Nutrition and Population ; Human Capital ; Macroeconomics and Economic Growth ; Population Policies ; Poverty Reduction ; Private Sector Development ; Pro-Poor Growth ; Productivity growth ; Transport ; Transport Economics, Policy and Planning ; Value added ; Agriculture ; Development Economics ; Development policy ; E-Business ; Econometric analysis ; Economic Theory and Research ; Economics Research ; GDP ; GDP per capita ; Health, Nutrition and Population ; Human Capital ; Macroeconomics and Economic Growth ; Population Policies ; Poverty Reduction ; Private Sector Development ; Pro-Poor Growth ; Productivity growth ; Transport ; Transport Economics, Policy and Planning ; Value added
    Abstract: Using panel data for the fourteen major states of India over the 1980-2000 period, the authors estimate the effect of human capital endowment on the performance of the state economies. They find that greater availability of skilled workers had a positive and significant impact on output in the service sectors. They do not find any such effect for the manufacturing sectors. The paper shows that the differential effect on services and manufacturing arises because service sectors are more skill intensive
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  • 59
    Language: English
    Pages: Online-Ressource (1 online resource (51 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Loening, Josef Nonfarm Microenterprise Performance And The Investment Climate
    Keywords: Access to Finance ; Agricultural sector ; Capital stock ; Community survey ; Debt Markets ; Economic Development ; Economic Theory and Research ; Finance and Financial Sector Development ; Financial support ; Households ; International Bank ; Job opportunities ; Labor Markets ; Labor market ; Macroeconomics and Economic Growth ; Microfinance ; Access to Finance ; Agricultural sector ; Capital stock ; Community survey ; Debt Markets ; Economic Development ; Economic Theory and Research ; Finance and Financial Sector Development ; Financial support ; Households ; International Bank ; Job opportunities ; Labor Markets ; Labor market ; Macroeconomics and Economic Growth ; Microfinance ; Access to Finance ; Agricultural sector ; Capital stock ; Community survey ; Debt Markets ; Economic Development ; Economic Theory and Research ; Finance and Financial Sector Development ; Financial support ; Households ; International Bank ; Job opportunities ; Labor Markets ; Labor market ; Macroeconomics and Economic Growth ; Microfinance
    Abstract: This paper uses uniquely matched household, enterprise and community survey data from four major regions in rural Ethiopia to characterize the performance, constraints and opportunities of nonfarm enterprises. The nonfarm enterprise sector is sizeable, particularly important for women, and plays an important role during the low season for agriculture, when alternative job opportunities are limited. Returns to nonfarm enterprise employment are low on average and especially so for female-headed enterprises. Women nevertheless have much higher participation rates than men, which attest to their marginalized position in the labor market. Most enterprises are very small and rely almost exclusively on household members to provide the required labor inputs. Few firms add to their capital stock or increase their labor inputs after startup. Local fluctuations in predicted crop performance affect the performance of nonfarm enterprises, because of the predominant role played by the agricultural sector. Enterprise performance is also affected by the localized nature of sales and limited market integration for nonfarm enterprises. The policy implications of these and other findings are discussed
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  • 60
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (34 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Fofack, Hippolyte Technology Trap And Poverty Trap In Sub-Saharan Africa
    Keywords: Basic ; Components ; E-Business ; Economic Theory and Research ; Engineering ; ICT Policy and Strategies ; Industry ; Information and Communication Technologies ; Innovations ; Inventions ; Macroeconomics and Economic Growth ; New technologies ; Poverty Reduction ; Private Sector Development ; Pro-Poor Growth ; Semiconductors ; Simulation ; Technological infrastructure ; Technological innovations ; Technology Industry ; Basic ; Components ; E-Business ; Economic Theory and Research ; Engineering ; ICT Policy and Strategies ; Industry ; Information and Communication Technologies ; Innovations ; Inventions ; Macroeconomics and Economic Growth ; New technologies ; Poverty Reduction ; Private Sector Development ; Pro-Poor Growth ; Semiconductors ; Simulation ; Technological infrastructure ; Technological innovations ; Technology Industry ; Basic ; Components ; E-Business ; Economic Theory and Research ; Engineering ; ICT Policy and Strategies ; Industry ; Information and Communication Technologies ; Innovations ; Inventions ; Macroeconomics and Economic Growth ; New technologies ; Poverty Reduction ; Private Sector Development ; Pro-Poor Growth ; Semiconductors ; Simulation ; Technological infrastructure ; Technological innovations ; Technology Industry
    Abstract: Since the industrial revolution, advances in science and technology have continuously accounted for most of the growth and wealth accumulation in leading industrialized economies. In recent years, the contribution of technological progress to growth and welfare improvement has increased even further, especially with the globalization process which has been characterized by exponential growth in exports of manufactured goods. This paper establishes the existence of a technology trap in Sub-Saharan Africa. It shows that the widening income and welfare gap between Sub-Saharan Africa and the rest of world is largely accounted for by the technology trap responsible for the poverty trap. This result is supported by empirical evidence which suggests that if countries in Sub-Saharan Africa were using the same level of technology enjoyed by industrialized countries income levels in Sub-Saharan Africa would be significantly higher. The result is robust, even after controlling for institutional, macroeconomic instability and volatility factors. Consistent with standard one-sector neoclassical growth models, this suggests that uniform convergence to a worldwide technology frontier may lead to income convergence in the spherical space. Overcoming the technology trap in Sub-Saharan Africa may therefore be essential to achieving the Millennium Development Goals and evolving toward global convergence in the process of economic development
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  • 61
    Language: English
    Pages: Online-Ressource (1 online resource (27 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Breceda, Karla Latin America And The Social Contract
    Keywords: Economic Theory and Research ; Economic performance ; Emerging Markets ; Housing ; Housing subsidies ; Income taxes ; Macroeconomics and Economic Growth ; Poverty Reduction ; Private Sector Development ; Public ; Public Sector Economics and Finance ; Public resources ; Public spending ; Services and Transfers to Poor ; Tax ; Tax revenues ; Taxation ; Taxation and Subsidies ; Economic Theory and Research ; Economic performance ; Emerging Markets ; Housing ; Housing subsidies ; Income taxes ; Macroeconomics and Economic Growth ; Poverty Reduction ; Private Sector Development ; Public ; Public Sector Economics and Finance ; Public resources ; Public spending ; Services and Transfers to Poor ; Tax ; Tax revenues ; Taxation ; Taxation and Subsidies ; Economic Theory and Research ; Economic performance ; Emerging Markets ; Housing ; Housing subsidies ; Income taxes ; Macroeconomics and Economic Growth ; Poverty Reduction ; Private Sector Development ; Public ; Public Sector Economics and Finance ; Public resources ; Public spending ; Services and Transfers to Poor ; Tax ; Tax revenues ; Taxation ; Taxation and Subsidies
    Abstract: This paper presents an incidence analysis of both social spending and taxation for seven Latin American countries, the United Kingdom, and the United States. The analysis shows that Latin American countries are headed de facto toward a minimalist welfare state similar to the one in the United States, rather than toward a stronger, European-like welfare state. Specifically, both in Latin America and in the United States, social spending remains fairly flat across income quintiles. On the taxation side, high income inequality causes the rich to bear most of the taxation burden. This causes a vicious cycle where the rich oppose the expansion of the welfare state (as they bear most of its burden without receiving much back), which in turn maintains long-term inequalities. The recent increased socioeconomic instability in many Latin American countries shows nonetheless a real need for a stronger welfare state, which, if unanswered, may degenerate into short-term and unsustainable policies. The case of Chile suggests that a way out from this apparent dead end can be found, as elites may be willing to raise their contribution to social spending if this can lead to a more stable social contract
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  • 62
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (14 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Fehr, Ernst Spite and Development
    DDC: 360
    Keywords: Bankruptcy and Resolution of Financial Distress ; Competitive Advantage ; Corporate Law ; Debt Markets ; Economic Theory and Research ; Equilibrium ; Expected returns ; Expected utility ; Finance and Financial Sector Development ; Free riders ; Future research ; Gender ; Gender and Social Development ; Law and Development ; Macroeconomics ; Macroeconomics and Economic Growth ; Marginal cost ; Public good ; Utility function ; Bankruptcy and Resolution of Financial Distress ; Competitive Advantage ; Corporate Law ; Debt Markets ; Economic Theory and Research ; Equilibrium ; Expected returns ; Expected utility ; Finance and Financial Sector Development ; Free riders ; Future research ; Gender ; Gender and Social Development ; Law and Development ; Macroeconomics ; Macroeconomics and Economic Growth ; Marginal cost ; Public good ; Utility function ; Bankruptcy and Resolution of Financial Distress ; Competitive Advantage ; Corporate Law ; Debt Markets ; Economic Theory and Research ; Equilibrium ; Expected returns ; Expected utility ; Finance and Financial Sector Development ; Free riders ; Future research ; Gender ; Gender and Social Development ; Law and Development ; Macroeconomics ; Macroeconomics and Economic Growth ; Marginal cost ; Public good ; Utility function
    Abstract: In a wide variety of settings, spiteful preferences would constitute an obstacle to cooperation, trade, and thus economic development. This paper shows that spiteful preferences - the desire to reduce another's material payoff for the mere purpose of increasing one's relative payoff - are surprisingly widespread in experiments conducted in one of the least developed regions in India (Uttar Pradesh). In a one-shot trust game, the authors find that a large majority of subjects punish cooperative behavior although such punishment clearly increases inequality and decreases the payoffs of both subjects. In experiments to study coordination and to measure social preferences, the findings reveal empirical patterns suggesting that the willingness to reduce another's material payoff - either for the sake of achieving more equality or for the sake of being ahead - is stronger among individuals belonging to high castes than among those belonging to low castes. Because extreme social hierarchies are typically accompanied by a culture that stresses status-seeking, it is plausible that the observed social preference patterns are at least partly shaped by this culture. Thus, an exciting question for future research is the extent to which different institutions and cultures produce preferences that are conducive or detrimental to economic development
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  • 63
    Language: English
    Pages: Online-Ressource (1 online resource (55 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Ferreira, Francisco H.G The Measurement of Inequality of Opportunity
    Keywords: Consumption ; Economic Theory and Research ; Economic inequality ; Equity and Development ; Gender ; Gender and ; Gender and Law ; Household income ; Income differences ; Incomes ; Inequality ; Inequality ; International Economics & Trade ; Law and Development ; Macroeconomics and Economic Growth ; Multiple equilibria ; Policy research ; Poverty Impact Evaluation ; Poverty Reduction ; Product ; Public Sector Development ; Public policy ; Rural Development ; Rural Poverty Reduction ; Services and Transfers to Poor ; Trade Policy ; Consumption ; Economic Theory and Research ; Economic inequality ; Equity and Development ; Gender ; Gender and ; Gender and Law ; Household income ; Income differences ; Incomes ; Inequality ; Inequality ; International Economics & Trade ; Law and Development ; Macroeconomics and Economic Growth ; Multiple equilibria ; Policy research ; Poverty Impact Evaluation ; Poverty Reduction ; Product ; Public Sector Development ; Public policy ; Rural Development ; Rural Poverty Reduction ; Services and Transfers to Poor ; Trade Policy ; Consumption ; Economic Theory and Research ; Economic inequality ; Equity and Development ; Gender ; Gender and ; Gender and Law ; Household income ; Income differences ; Incomes ; Inequality ; Inequality ; International Economics & Trade ; Law and Development ; Macroeconomics and Economic Growth ; Multiple equilibria ; Policy research ; Poverty Impact Evaluation ; Poverty Reduction ; Product ; Public Sector Development ; Public policy ; Rural Development ; Rural Poverty Reduction ; Services and Transfers to Poor ; Trade Policy
    Abstract: What part of the inequality observed in a particular country is due to unequal opportunities, rather than to differences in individual efforts or luck? This paper estimates a lower bound for the opportunity share of inequality in labor earnings, household income per capita and household consumption per capita in six Latin American countries. Following John Roemer, the authors associate inequality of opportunity with outcome differences that can be accounted for by morally irrelevant pre-determined circumstances, such as race, gender, place of birth, and family background. Thus defined, unequal opportunities account for between 24 and 50 percent of inequality in consumption expenditure in the sample. Brazil and Central America are more opportunity-unequal than Colombia, Ecuador, or Peru. "Opportunity profiles," which identify the social groups with the most limited opportunity sets, are shown to be distinct from poverty profiles: ethnic origin and the geography of birth are markedly more important as determinants of opportunity deprivation than of outcome poverty, particularly in Brazil, Guatemala, and Peru
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  • 64
    Language: English
    Pages: Online-Ressource (1 online resource (44 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Estache, Antonio Procurement Efficiency For Infrastructure Development And Financial Needs Reassessed
    Keywords: Costs ; Debt Markets ; E-Business ; Economic Theory and Research ; Em ; Finance and Financial Sector Development ; Infrastructure ; Infrastructure Economics ; Infrastructure Economics and Finance ; Infrastructure development ; Infrastructure investment ; Infrastructure projects ; Investment and Investment Climate ; Investments ; Macroeconomics and Economic Growth ; Private Sector Development ; Public Sector Economics and Finance ; Road ; Roads ; Sanitation ; Transport ; Transport ; Transport Economics, Policy and Planning ; Costs ; Debt Markets ; E-Business ; Economic Theory and Research ; Em ; Finance and Financial Sector Development ; Infrastructure ; Infrastructure Economics ; Infrastructure Economics and Finance ; Infrastructure development ; Infrastructure investment ; Infrastructure projects ; Investment and Investment Climate ; Investments ; Macroeconomics and Economic Growth ; Private Sector Development ; Public Sector Economics and Finance ; Road ; Roads ; Sanitation ; Transport ; Transport ; Transport Economics, Policy and Planning ; Costs ; Debt Markets ; E-Business ; Economic Theory and Research ; Em ; Finance and Financial Sector Development ; Infrastructure ; Infrastructure Economics ; Infrastructure Economics and Finance ; Infrastructure development ; Infrastructure investment ; Infrastructure projects ; Investment and Investment Climate ; Investments ; Macroeconomics and Economic Growth ; Private Sector Development ; Public Sector Economics and Finance ; Road ; Roads ; Sanitation ; Transport ; Transport ; Transport Economics, Policy and Planning
    Abstract: Infrastructure is the engine for economic growth. The international donor community has spent about 70-100 billion U.S. dollars on infrastructure development in developing countries every year. However, it is arguable whether these financial resources are used efficiently, particularly whether the current infrastructure procurement prices are appropriate. Without doubt a key is competition to curb public procurement costs. This paper analyzes procurement data from multi and bilateral official development projects in three infrastructure sectors: roads, electricity, and water and sanitation. The findings show that the competition effect is underutilized. To take full advantage of competition, at least seven bidders are needed in the road and water sectors, while three may be enough in the power sector. The paper also shows that not only competition, but also auction design, especially lot division, is crucial for reducing unit costs of infrastructure. Based on the estimated efficient unit costs, the annual financial needs are estimated at approximately 360 billion U.S. dollars. By promoting competition, the developing world might be able to save at most 8.2 percent of total infrastructure development costs
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  • 65
    Language: English
    Pages: Online-Ressource (1 online resource (31 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Mattoo, Aaditya Currency Undervaluation And Sovereign Wealth Funds
    Keywords: Access to Finance ; Bankruptcy and Resolution of Financial Distress ; Currencies and Exchange Rates ; Currency ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Enforcement ; Exchange ; Exchange rate ; Exchange rates ; Finance and Financial Sector Development ; Free Trade ; Government action ; Interest ; International Economics & Trade ; Investments ; Law and Development ; Macroeconomics and Economic Growth ; Private Sector Development ; Subsidies ; Trade Law ; World trade ; Access to Finance ; Bankruptcy and Resolution of Financial Distress ; Currencies and Exchange Rates ; Currency ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Enforcement ; Exchange ; Exchange rate ; Exchange rates ; Finance and Financial Sector Development ; Free Trade ; Government action ; Interest ; International Economics & Trade ; Investments ; Law and Development ; Macroeconomics and Economic Growth ; Private Sector Development ; Subsidies ; Trade Law ; World trade ; Access to Finance ; Bankruptcy and Resolution of Financial Distress ; Currencies and Exchange Rates ; Currency ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Enforcement ; Exchange ; Exchange rate ; Exchange rates ; Finance and Financial Sector Development ; Free Trade ; Government action ; Interest ; International Economics & Trade ; Investments ; Law and Development ; Macroeconomics and Economic Growth ; Private Sector Development ; Subsidies ; Trade Law ; World trade
    Abstract: Two aspects of global imbalances - undervalued exchange rates and sovereign wealth funds - require a multilateral response. For reasons of inadequate leverage and eroding legitimacy, the International Monetary Fund has not been effective in dealing with undervalued exchange rates. This paper proposes new rules in the World Trade Organization to discipline cases of significant undervaluation that are clearly attributable to government action. The rationale for WTO involvement is that there are large trade consequences of undervalued exchange rates, which act as both import tariffs and export subsidies, and that the WTO's enforcement mechanism is credible and effective. The World Trade Organization would not be involved in exchange rate management, and would not displace the International Monetary Fund. Rather, the authors suggest ways to harness the comparative advantage of the two institutions, with the International Monetary Fund providing the essential technical expertise in the World Trade Organization's enforcement process. There is a bargain to be struck between countries with sovereign wealth funds, which want secure and liberal access for their capital, and capital-importing countries, which have concerns about the objectives and operations of sovereign wealth funds. The World Trade Organization is the natural place to strike this bargain. Its General Agreement on Trade in Services, already covers investments by sovereign wealth funds, and other agreements offer a precedent for designing disciplines for these funds. Placing exchange rates and sovereign wealth funds on the trade negotiating agenda may help revive the Doha Round by rekindling the interest of a wide variety of groups
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  • 66
    Language: English
    Pages: Online-Ressource (1 online resource (81 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Cakmak, Erol H Macro-Micro Feedback Links of Irrigation Water Management In Turkey
    Keywords: Agricultural production ; Agricultural uses ; Climate change ; Competition for water ; Economic Theory and Research ; Industry ; Macroeconomics and Economic Growth ; Regional Economic Development ; Rural Development ; Sectoral water ; Town Water Supply and Sanitation ; Water C ; Water Resources ; Water Supply and Sanitation ; Water Supply and Sanitation Governance and Institutions ; Water Supply and Systems ; Water and Industry ; Water availability ; Water management ; Water resource ; Water resources ; Water use ; Agricultural production ; Agricultural uses ; Climate change ; Competition for water ; Economic Theory and Research ; Industry ; Macroeconomics and Economic Growth ; Regional Economic Development ; Rural Development ; Sectoral water ; Town Water Supply and Sanitation ; Water C ; Water Resources ; Water Supply and Sanitation ; Water Supply and Sanitation Governance and Institutions ; Water Supply and Systems ; Water and Industry ; Water availability ; Water management ; Water resource ; Water resources ; Water use ; Agricultural production ; Agricultural uses ; Climate change ; Competition for water ; Economic Theory and Research ; Industry ; Macroeconomics and Economic Growth ; Regional Economic Development ; Rural Development ; Sectoral water ; Town Water Supply and Sanitation ; Water C ; Water Resources ; Water Supply and Sanitation ; Water Supply and Sanitation Governance and Institutions ; Water Supply and Systems ; Water and Industry ; Water availability ; Water management ; Water resource ; Water resources ; Water use
    Abstract: Agricultural production is heavily dependent on water availability in Turkey, where half the crop production relies on irrigation. Irrigated agriculture consumes about 75 percent of total water used, which is about 30 percent of renewable water availability. This study analyzes the likely effects of increased competition for water resources and changes in the Turkish economy. The analysis uses an economy-wide Walrasian Computable General Equilibrium model with a detailed account of the agricultural sector. The study investigated the economy-wide effects of two external shocks, namely a permanent increase in the world prices of agricultural commodities and climate change, along with the impact of the domestic reallocation of water between agricultural and non-agricultural uses. It was also recognized that because of spatial heterogeneity of the climate, the simulated scenarios have differential impact on the agricultural production and hence on the allocation of factors of production including water. The greatest effects on major macroeconomic indicators occur in the climate change simulations. As a result of the transfer of water from rural to urban areas, overall production of all crops declines. Although production on rainfed land increases, production on irrigated land declines, most notably the production of maize and fruits. The decrease in agricultural production, coupled with the domestic price increase, is further reflected in net trade. Agricultural imports increase with a greater decline in agricultural exports
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  • 67
    Language: English
    Pages: Online-Ressource (1 online resource (40 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Dinar, Ariel Factors Affecting Levels of International Cooperation In Carbon Abatement Projects
    Keywords: Abatement ; C ; Carbon ; Carbon dioxide ; Clean development mechanism ; Climate change ; Debt Markets ; Economic Theory and Research ; Economic development ; Economics ; Emerging Markets ; Emission reductions ; Emissions ; Energy ; Energy Production and Transportation ; Energy and Environment ; Environment ; Environment and Energy Efficiency ; Environmental Economics and Policies ; Finance and Financial Sector Development ; Information and Communication Technologies ; Macroeconomics and Economic Growth ; Private Sector Development ; Sustainable development ; Abatement ; C ; Carbon ; Carbon dioxide ; Clean development mechanism ; Climate change ; Debt Markets ; Economic Theory and Research ; Economic development ; Economics ; Emerging Markets ; Emission reductions ; Emissions ; Energy ; Energy Production and Transportation ; Energy and Environment ; Environment ; Environment and Energy Efficiency ; Environmental Economics and Policies ; Finance and Financial Sector Development ; Information and Communication Technologies ; Macroeconomics and Economic Growth ; Private Sector Development ; Sustainable development ; Abatement ; C ; Carbon ; Carbon dioxide ; Clean development mechanism ; Climate change ; Debt Markets ; Economic Theory and Research ; Economic development ; Economics ; Emerging Markets ; Emission reductions ; Emissions ; Energy ; Energy Production and Transportation ; Energy and Environment ; Environment ; Environment and Energy Efficiency ; Environmental Economics and Policies ; Finance and Financial Sector Development ; Information and Communication Technologies ; Macroeconomics and Economic Growth ; Private Sector Development ; Sustainable development
    Abstract: The Clean Development Mechanism, a provision of The Kyoto Protocol, allows countries that have pledged to reduce their greenhouse gas emissions to gain credit toward their treaty obligations by investing in projects located in developing (host) countries. Such projects are expected to benefit both parties by providing low-cost abatement opportunities for the investor-country, while facilitating capital and technology flows to the host country. This paper analyzes the Clean Development Mechanism market, emphasizing the cooperation aspects between host and investor countries. The analysis uses a dichotomous (yes/no) variable and three continuous variants to measure the level of cooperation, namely the number of joint projects, the volume of carbon dioxide abatement, and the volume of investment in the projects. The results suggest that economic development, institutional development, the energy structure of the economies, the level of country vulnerability to various climate change effects, and the state of international relations between the host and investor countries are good predictors of the level of cooperation in Clean Development Mechanism projects. The main policy conclusions include the importance of simplifying the project regulation/clearance cycle; improving the governance structure host and investor countries; and strengthening trade or other long-term economic activities that engage the countries
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  • 68
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (110 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Butler, Monika Annuities in Switzerland
    Keywords: Annuities ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Gender ; Gender and Law ; Law and Development ; Macroeconomics and Economic Growth ; Occupational Pension Plans ; Pay-As-You-Go System ; Pension ; Pension Scheme ; Pension System ; Pensions and Retirement Systems ; Private Sector Development ; Replacement Rate ; Retirement ; Social Protections and Labor ; Social Security ; Social Security System ; Annuities ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Gender ; Gender and Law ; Law and Development ; Macroeconomics and Economic Growth ; Occupational Pension Plans ; Pay-As-You-Go System ; Pension ; Pension Scheme ; Pension System ; Pensions and Retirement Systems ; Private Sector Development ; Replacement Rate ; Retirement ; Social Protections and Labor ; Social Security ; Social Security System ; Annuities ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Gender ; Gender and Law ; Law and Development ; Macroeconomics and Economic Growth ; Occupational Pension Plans ; Pay-As-You-Go System ; Pension ; Pension Scheme ; Pension System ; Pensions and Retirement Systems ; Private Sector Development ; Replacement Rate ; Retirement ; Social Protections and Labor ; Social Security ; Social Security System
    Abstract: Switzerland's pension system has attracted considerable attention, mainly due to its reliance on a three-pillar structure. A relatively small pay-as-you-go system (first pillar) is complemented by a mandatory, employer-based, fully funded occupational pension scheme (second pillar). The main goal of this paper is to provide a detailed description and analysis of the Swiss pension system. Particular emphasis is placed on the second pillar and its role in the provision of old age benefits within the Swiss social security system. The paper shows, for example, that a typical individual with an uninterrupted career can expect a net (after-tax) replacement rate of at least 70 percent. Occupational pension plans are highly regulated. Minimum interest rate requirements and minimum conversion rates (at which the accumulated retirement balances are transformed into annuity streams) introduce many elements of defined benefit plans into notionally defined contribution schemes. The resulting money's worth ratios are very high (with the exception of single males). Switzerland also has a high annuitization rate by international standards (approximately 80 percent). However, due to high fragmentation of the scheme and non-uniform accounting practices, some aspects of the system are not very transparent. The paper sheds light on the financial health of the pension system and the evolution of the regulatory framework in the past two decades
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  • 69
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (22 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Alacevich, Michele Early Development Economics Debates Revisited
    Keywords: Banks and Banking Reform ; Classical Economists ; Conflict and Development ; Development Economics ; Development Economics and Aid Effectiveness ; Disequilibrium ; Economic Development ; Economic Theory and Research ; Economists ; Growth Theory ; Industrial Economy ; Industrialization ; Labor Policies ; Macroeconomics and Economic Growth ; Post Conflict Reconstruction ; Social Protections and Labor ; Unemployment ; Wages ; Banks and Banking Reform ; Classical Economists ; Conflict and Development ; Development Economics ; Development Economics and Aid Effectiveness ; Disequilibrium ; Economic Development ; Economic Theory and Research ; Economists ; Growth Theory ; Industrial Economy ; Industrialization ; Labor Policies ; Macroeconomics and Economic Growth ; Post Conflict Reconstruction ; Social Protections and Labor ; Unemployment ; Wages ; Banks and Banking Reform ; Classical Economists ; Conflict and Development ; Development Economics ; Development Economics and Aid Effectiveness ; Disequilibrium ; Economic Development ; Economic Theory and Research ; Economists ; Growth Theory ; Industrial Economy ; Industrialization ; Labor Policies ; Macroeconomics and Economic Growth ; Post Conflict Reconstruction ; Social Protections and Labor ; Unemployment ; Wages
    Abstract: Development economics in its early years created the image of a fierce fight between advocates of contrasting theories or approaches- "balanced growth" vs. "unbalanced growth" or "program loans" vs. "project loans." This view has the merit to highlight such conflicts in great detail; yet it fails to take into account the reality of development economics as it was practiced in the field. This paper reassesses these old conflicts by complementing the traditional focus on theoretical debates with an emphasis on the practice of development economics.A particularly interesting example is the debate between Albert Hirschman, one of the fathers of the "unbalanced growth" approach, and Lauchlin Currie, among the advocates of "balanced growth" on how to foster iron production in Colombia in the 1950s. An analysis of the positions held by these two economists shows that they were in fact much less antithetical than is usually held and, indeed, were in some fundamental aspects surprisingly similar. Debates among development economists during the 1950s thus must be explained-at least partially-as the natural dynamics of an emerging discipline that took shape when different groups tried to achieve supremacy-or at least legitimacy-through the creation of mutually delegitimizing systemic theories
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  • 70
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (48 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Li, Ying Aid Inflows And The Real Effective Exchange Rate In Tanzania
    Keywords: Currencies and Exchange Rates ; Debt Markets ; Depreciation ; Economic Policy ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Equilibrium ; Export Competitiveness ; Finance and Financial Sector Development ; International Competitiveness ; Macroeconomics and Economic Growth ; Poverty Reduction ; Private Sector Development ; Real Effective Exchange Rate ; Real Exchange Rate ; Trade Liberalization ; Trade Movements ; Currencies and Exchange Rates ; Debt Markets ; Depreciation ; Economic Policy ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Equilibrium ; Export Competitiveness ; Finance and Financial Sector Development ; International Competitiveness ; Macroeconomics and Economic Growth ; Poverty Reduction ; Private Sector Development ; Real Effective Exchange Rate ; Real Exchange Rate ; Trade Liberalization ; Trade Movements ; Currencies and Exchange Rates ; Debt Markets ; Depreciation ; Economic Policy ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Equilibrium ; Export Competitiveness ; Finance and Financial Sector Development ; International Competitiveness ; Macroeconomics and Economic Growth ; Poverty Reduction ; Private Sector Development ; Real Effective Exchange Rate ; Real Exchange Rate ; Trade Liberalization ; Trade Movements
    Abstract: Tanzania is well placed to receive a significant increase in aid inflows in coming years. Despite the potential for the additional aid inflows to raise income levels in the country, increasing them may bring about structural changes in the economy that may be unwelcome. One such change is an appreciation of the real exchange rate that leads to a contraction of traditional export sectors and a loss of export competitiveness. This paper employs a reduced-form equilibrium real exchange rate approach to explain movements in Tanzania's real effective exchange in recent decades. Particular attention is paid to the relationship between aid inflows and the real effective exchange rate. The authors find that the long-run behavior of the real effective exchange rate is influenced by terms of trade movements, the government's trade liberalization efforts, and aid inflows. Positive terms-of-trade movements are associated with an appreciation, periods of improving trade liberalization are associated with a depreciation, and increases in aid inflows are associated with a depreciation in the real effective exchange rate. Although the last result is non-standard, it is not empirically unique and does have theoretical underpinnings. A detailed analysis of this relationship over the last decade shows that the Bank of Tanzania's response to aid inflows is likely the main reason for the finding
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  • 71
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (82 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Demirguc-Kunt, Asli Finance, Financial Sector Policies, And Long-Run Growth
    Keywords: Access to Finance ; Banks and Banking Reform ; Debt Markets ; Economic Development ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Development ; Financial Instruments ; Financial Markets ; Financial System ; Financial Systems ; International Bank ; Investment Decisions ; Macroeconomics and Economic Growth ; Private Sector Development ; Transaction ; Transaction Costs ; Access to Finance ; Banks and Banking Reform ; Debt Markets ; Economic Development ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Development ; Financial Instruments ; Financial Markets ; Financial System ; Financial Systems ; International Bank ; Investment Decisions ; Macroeconomics and Economic Growth ; Private Sector Development ; Transaction ; Transaction Costs ; Access to Finance ; Banks and Banking Reform ; Debt Markets ; Economic Development ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Development ; Financial Instruments ; Financial Markets ; Financial System ; Financial Systems ; International Bank ; Investment Decisions ; Macroeconomics and Economic Growth ; Private Sector Development ; Transaction ; Transaction Costs
    Abstract: The first part of this paper reviews the literature on the relation between finance and growth. The second part of the paper reviews the literature on the historical and policy determinants of financial development. Governments play a central role in shaping the operation of financial systems and the degree to which large segments of the financial system have access to financial services. The paper discusses the relationship between financial sector policies and economic development
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  • 72
    Language: English
    Pages: Online-Ressource (1 online resource (51 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Magnoli Bocchi, Alessandro Rising Growth, Declining Investment
    Keywords: Access to Finance ; Agriculture ; Barriers To Entry ; Debt ; Debt Markets ; Economic Growth ; Economic Theory and Research ; Environment ; Environmental Economics and Policies ; Equilibrium ; Exports ; Finance and Financial Sector Development ; GDP ; Macroeconomics and Economic Growth ; Marginal Product ; Political Economy ; Unemployment ; Wages ; Access to Finance ; Agriculture ; Barriers To Entry ; Debt ; Debt Markets ; Economic Growth ; Economic Theory and Research ; Environment ; Environmental Economics and Policies ; Equilibrium ; Exports ; Finance and Financial Sector Development ; GDP ; Macroeconomics and Economic Growth ; Marginal Product ; Political Economy ; Unemployment ; Wages ; Access to Finance ; Agriculture ; Barriers To Entry ; Debt ; Debt Markets ; Economic Growth ; Economic Theory and Research ; Environment ; Environmental Economics and Policies ; Equilibrium ; Exports ; Finance and Financial Sector Development ; GDP ; Macroeconomics and Economic Growth ; Marginal Product ; Political Economy ; Unemployment ; Wages
    Abstract: The economy of the Philippines is open to trade and capital inflows, and has grown rapidly since 2002. Over the last 10 years, however, domestic investment, while stagnant in real terms, has shrunk as a share of GDP. In an open and growing economy, why the decline? Three reasons explain the puzzle. First, the public sector cannot afford expanding its investment at GDP growth rates. Second, the capital-intensive private sector does not find it convenient to raise investment at the economy's pace. Third, fast-growing businesses in the service sector do not need to rapidly increase investment to enjoy rising profits. Yet, the economy keeps growing. On the demand-side, massive labor migration results in remittances that fuel consumption-led-growth. On the supply-side, free from rent-capturing regulations, a few non-capital-intensive manufactures and services boost exports. The economic system is in equilibrium at a low level of capital stock, where all economic agents have no incentive to unilaterally increase investment and the first mover bears short-term costs. As a consequence, growth is slower and less inclusive than it could be. To make it speedier and more sustainable, and to reduce unemployment and poverty, the economy needs to move to a "high-capital-stock" equilibrium. This would be attainable through better-performing eco-zones, a competitive exchange rate, greater government revenues, and fewer elite-capturing regulations
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  • 73
    Language: English
    Pages: Online-Ressource (1 online resource (37 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Bayly, C.A Indigenous And Colonial Origins of Comparative Economic Development
    Keywords: Anthropologists ; Anthropology ; Anthropology ; Cities ; Corporate Law ; Cultural Policy ; Culture & Development ; E-Business ; Economic Growth ; Economic Theory and Research ; Historians ; Historiography ; Industrial Development ; Law and Development ; Literature ; Macroeconomics and Economic Growth ; Philosophy ; Private Sector Development ; Public Sector Development ; Writers ; Anthropologists ; Anthropology ; Anthropology ; Cities ; Corporate Law ; Cultural Policy ; Culture & Development ; E-Business ; Economic Growth ; Economic Theory and Research ; Historians ; Historiography ; Industrial Development ; Law and Development ; Literature ; Macroeconomics and Economic Growth ; Philosophy ; Private Sector Development ; Public Sector Development ; Writers ; Anthropologists ; Anthropology ; Anthropology ; Cities ; Corporate Law ; Cultural Policy ; Culture & Development ; E-Business ; Economic Growth ; Economic Theory and Research ; Historians ; Historiography ; Industrial Development ; Law and Development ; Literature ; Macroeconomics and Economic Growth ; Philosophy ; Private Sector Development ; Public Sector Development ; Writers
    Abstract: This paper concerns the institutional origins of economic development, emphasizing the cases of nineteenth-century India and Africa. Colonial institutions-the law, western style property rights, newspapers and statistical analysis-played an important part in the emergence of Indian public and commercial life in the nineteenth and twentieth centuries. These institutions existed in the context of a state that was extractive and yet dependent on indigenous cooperation in many areas, especially in the case of the business class. In such conditions, Indian elites were critical in creating informal systems of peer-group education, enhancing aspiration through the use of historicist and religious themes and in creating a "benign sociology" of India as a prelude to development. Indigenous ideologies and practices were as significant in this slow enhancement of Indian capabilities as transplanted colonial ones. Contemporary development specialists would do well to consider the merits of indigenous forms of association and public debate, religious movements and entrepreneurial classes. Over much of Asia and Africa, the most successful enhancement of people's capabilities has come through the action of hybrid institutions of this type
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  • 74
    Language: English
    Pages: Online-Ressource (1 online resource (41 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Ashraf, Nava Finding Missing Markets (And A Disturbing Epilogue)
    Keywords: Agricultural Inputs ; Agricultural Technology ; Agriculture ; Banks and Banking Reform ; Cash Crops ; Crop ; Crops ; Crops and Crop Management Systems ; Economic Theory and Research ; Export Crops ; Farmer ; Farmers ; Farms ; Food Safety ; Macroeconomics and Economic Growth ; Poverty Reduction ; Rural Development ; Rural Development Knowledge and Information Systems ; Rural Poverty Reduction ; Agricultural Inputs ; Agricultural Technology ; Agriculture ; Banks and Banking Reform ; Cash Crops ; Crop ; Crops ; Crops and Crop Management Systems ; Economic Theory and Research ; Export Crops ; Farmer ; Farmers ; Farms ; Food Safety ; Macroeconomics and Economic Growth ; Poverty Reduction ; Rural Development ; Rural Development Knowledge and Information Systems ; Rural Poverty Reduction ; Agricultural Inputs ; Agricultural Technology ; Agriculture ; Banks and Banking Reform ; Cash Crops ; Crop ; Crops ; Crops and Crop Management Systems ; Economic Theory and Research ; Export Crops ; Farmer ; Farmers ; Farms ; Food Safety ; Macroeconomics and Economic Growth ; Poverty Reduction ; Rural Development ; Rural Development Knowledge and Information Systems ; Rural Poverty Reduction
    Abstract: In much of the developing world, many farmers grow crops for local or personal consumption despite export options that appear to be more profitable. Thus many conjecture that one or several markets are missing. This paper reports on a randomized controlled trial conducted by DrumNet in Kenya that attempts to help farmers adopt and market export crops. DrumNet provides smallholder farmers with information about how to switch to export crops, makes in-kind loans for the purchase of the agricultural inputs, and provides marketing services by facilitating the transaction with exporters. The experimental evaluation design randomly assigns pre-existing farmer self-help groups to one of three groups: (1) a treatment group that receives all DrumNet services, (2) a treatment group that receives all DrumNet services except credit, or (3) a control group. After one year, DrumNet services led to an increase in production of export oriented crops and lower marketing costs; this translated into household income gains for new adopters. However, one year after the study ended, the exporter refused to continue buying the cash crops from the farmers because the conditions of the farms did not satisfy European export requirements. DrumNet collapsed in this region as farmers were forced to sell to middlemen and defaulted on their loans. The risk of such events may explain, at least partly, why many seemingly more profitable export crops are not adopted
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  • 75
    Language: English
    Pages: Online-Ressource (1 online resource (46 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Balistreri, Edward J Modeling Services Liberalization
    Keywords: Dienstleistungshandel ; Handelsliberalisierung ; Kleine offene Volkswirtschaft ; Allgemeines Gleichgewicht ; CGE-Modell ; Kenia ; Air ; Banks and Banking Reform ; Economic Theory and Research ; Elasticities ; Elasticity ; Externalities ; Macroeconomics and Economic Growth ; Rail ; Road ; Transport ; Transport Economics, Policy and Planning ; Transportation ; Transportation costs ; Transportation network ; Transportation services ; Air ; Banks and Banking Reform ; Economic Theory and Research ; Elasticities ; Elasticity ; Externalities ; Macroeconomics and Economic Growth ; Rail ; Road ; Transport ; Transport Economics, Policy and Planning ; Transportation ; Transportation costs ; Transportation network ; Transportation services ; Air ; Banks and Banking Reform ; Economic Theory and Research ; Elasticities ; Elasticity ; Externalities ; Macroeconomics and Economic Growth ; Rail ; Road ; Transport ; Transport Economics, Policy and Planning ; Transportation ; Transportation costs ; Transportation network ; Transportation services
    Abstract: This paper employs a 55 sector small open economy computable general equilibrium model of the Kenyan economy to assess the impact of the liberalization of regulatory barriers against foreign and domestic business service providers in Kenya. The model incorporates productivity effects in both goods and services markets endogenously, through a Dixit-Stiglitz framework. It estimates the ad valorem equivalent of barriers to foreign direct investment based on detailed questionnaires completed by specialists in Kenya. The authors estimate that Kenya will gain about 11 percent of the value of Kenyan consumption in the medium run (or about 10 percent of gross domestic product) from a full reform package that also includes uniform tariffs. The estimated gains increase to 77 percent of consumption in the long-run steady-state model, where the impact on the accumulation of capital from an improvement in the productivity of capital is taken into account. Decomposition exercises reveal that the largest gains to Kenya will derive from liberalization of costly regulatory barriers that are non-discriminatory in their impacts between Kenyan and multinational service providers
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  • 76
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (44 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Helble, Matthias Heterogeneous Quality Firms And Trade Costs
    Keywords: Aggregate demand ; Common Carriers Industry ; Comparative advantage ; Consumers ; Economic Theory and Research ; Exports ; Free Trade ; Free trade ; Income levels ; Industry ; International Economics & Trade ; International trade ; Macroeconomics and Economic Growth ; Markets and Market Access ; Per capita income ; Product differentiation ; Productivity ; Transport ; Transport and Trade Logistics ; Aggregate demand ; Common Carriers Industry ; Comparative advantage ; Consumers ; Economic Theory and Research ; Exports ; Free Trade ; Free trade ; Income levels ; Industry ; International Economics & Trade ; International trade ; Macroeconomics and Economic Growth ; Markets and Market Access ; Per capita income ; Product differentiation ; Productivity ; Transport ; Transport and Trade Logistics ; Aggregate demand ; Common Carriers Industry ; Comparative advantage ; Consumers ; Economic Theory and Research ; Exports ; Free Trade ; Free trade ; Income levels ; Industry ; International Economics & Trade ; International trade ; Macroeconomics and Economic Growth ; Markets and Market Access ; Per capita income ; Product differentiation ; Productivity ; Transport ; Transport and Trade Logistics
    Abstract: There is increasing empirical evidence that vertical product differentiation is an important determinant of international trade. However, the economic literature so far has solely focused on the case in which quality trade stems from differences between countries. No studies investigate the role of quality trade between similar economies. This paper first develops a simple theoretical trade model that includes vertical product differentiation in a heterogeneous-firm framework. The model yields three main predictions for trade between similar economies. First, exported goods are of higher quality than goods sold on the domestic market. Second, larger economies have on average higher export qualities compared with smaller economies. Third, with increasing trade costs higher quality goods are exchanged. For all three effects, strong empirical support is found using detailed export trade data of the United States and 15 European Union countries
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  • 77
    Language: English
    Pages: Online-Ressource (1 online resource (50 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Zhao, Longyue Trade Remedies And Non-Market Economies
    Keywords: Bilateral trade ; Capacity building ; Debt Markets ; Development policies ; Dumping ; Economic Implications ; Economic Theory and Research ; Economic efficiency ; Emerging Markets ; Finance and Financial Sector Development ; ITC ; International Economics & Trade ; Law and Development ; Macroeconomics and Economic Growth ; Markets and Market Access ; Private Sector Development ; Trade Law ; Trade policy ; WTO ; World Trade Organization ; Bilateral trade ; Capacity building ; Debt Markets ; Development policies ; Dumping ; Economic Implications ; Economic Theory and Research ; Economic efficiency ; Emerging Markets ; Finance and Financial Sector Development ; ITC ; International Economics & Trade ; Law and Development ; Macroeconomics and Economic Growth ; Markets and Market Access ; Private Sector Development ; Trade Law ; Trade policy ; WTO ; World Trade Organization ; Bilateral trade ; Capacity building ; Debt Markets ; Development policies ; Dumping ; Economic Implications ; Economic Theory and Research ; Economic efficiency ; Emerging Markets ; Finance and Financial Sector Development ; ITC ; International Economics & Trade ; Law and Development ; Macroeconomics and Economic Growth ; Markets and Market Access ; Private Sector Development ; Trade Law ; Trade policy ; WTO ; World Trade Organization
    Abstract: In 2007, the United States Department of Commerce altered a 23-year old policy of not applying the countervailing duty law to non-market economies, and initiated eight countervailing and antidumping duty investigations on Chinese imports. The change brings heated debate on trade remedy policies and issues of non-market economies. This study focuses on the first countervailing duty case on imported coated free sheet paper from China and analyzes the implications of this test case for United States-China bilateral trade, and industrial policies in transitioning market economies. The paper also provides a brief review of the economics of subsidies, World Trade Organization rules on subsides and countervailing measures, and United States countervailing duty laws applied to non-market economies. While recently acceded countries should review their domestic development policies from the perspective of economic efficiency and comply with the World Trade Organization rules, it is also important to further clarify the issues of non-market economies under the multilateral trading system, and pay keen attention to the rules negotiations in the current World Trade Organization Doha Development Round
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  • 78
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (38 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Reuter, Peter Can Production And Trafficking of Illicit Drugs Be Reduced Or Merely Shifted?
    Keywords: Addiction ; Alcohol and Substance Abuse ; Cocaine ; Conflict and Development ; Corruption ; Crime ; Crime and Society ; Drug ; Drug control programs ; Drug trafficking ; Economic Theory and Research ; Health, Nutrition and Population ; Heroin ; Illicit Drugs ; Macroeconomics and Economic Growth ; Markets and Market Access ; Post Conflict Reconstruction ; Social Development ; Trafficking ; Addiction ; Alcohol and Substance Abuse ; Cocaine ; Conflict and Development ; Corruption ; Crime ; Crime and Society ; Drug ; Drug control programs ; Drug trafficking ; Economic Theory and Research ; Health, Nutrition and Population ; Heroin ; Illicit Drugs ; Macroeconomics and Economic Growth ; Markets and Market Access ; Post Conflict Reconstruction ; Social Development ; Trafficking ; Addiction ; Alcohol and Substance Abuse ; Cocaine ; Conflict and Development ; Corruption ; Crime ; Crime and Society ; Drug ; Drug control programs ; Drug trafficking ; Economic Theory and Research ; Health, Nutrition and Population ; Heroin ; Illicit Drugs ; Macroeconomics and Economic Growth ; Markets and Market Access ; Post Conflict Reconstruction ; Social Development ; Trafficking
    Abstract: The production of cocaine and heroin, the two most important drugs economically, has been concentrated in a small number of poor nations for 25 years. A slightly larger number of developing nations have been affected by large-scale trafficking in these two drugs. This paper reviews what is known about drug control programs and considers non-traditional options. The usual array of programs for suppressing drug problems, enforcement, treatment, harm reduction and prevention have been assessed almost exclusively in wealthy nations. Although treatment has been shown to be cost-effective, it is of minimal relevance for reducing the drug problems of nations such as Afghanistan, Colombia, Mexico or Tajikistan, which are primarily harmed by production and trafficking rather than consumption. Efforts to reduce drug production and trafficking have not been subject to systematic evaluation but the best interpretation of the available evidence is that they have had minimal effect on the quantities produced or trafficked. It is reasonable to conclude that international drug control efforts can do more to affect where these drugs are produced rather than the quantity. If that is the case, and given that spreading a specific level of production or trafficking to more rather than fewer nations probably decreases global welfare, it may be appropriate to consider a less aggressive stance to current producers and to make strategic decisions about the location of an industry producing a global bad
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  • 79
    Language: English
    Pages: Online-Ressource (1 online resource (41 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Yoshino, Yutaka Domestic Constraints, Firm Characteristics, And Geographical Diversification of Firm-Level Manufacturing Exports In Africa
    Keywords: Exportwirtschaft ; Exportdiversifizierung ; Internationaler Markt ; Region ; Theorie ; Subsahara-Afrika ; Commodity prices ; Debt Markets ; Economic Theory and Research ; Export markets ; Factor price ; Finance and Financial Sector Development ; Free Trade ; International Economics & Trade ; International trade ; Macroeconomics and Economic Growth ; Market entry ; Market orientation ; Markets and Market Access ; Microfinance ; Product quality ; Supply chain ; Supply chains ; Total sales ; Commodity prices ; Debt Markets ; Economic Theory and Research ; Export markets ; Factor price ; Finance and Financial Sector Development ; Free Trade ; International Economics & Trade ; International trade ; Macroeconomics and Economic Growth ; Market entry ; Market orientation ; Markets and Market Access ; Microfinance ; Product quality ; Supply chain ; Supply chains ; Total sales ; Commodity prices ; Debt Markets ; Economic Theory and Research ; Export markets ; Factor price ; Finance and Financial Sector Development ; Free Trade ; International Economics & Trade ; International trade ; Macroeconomics and Economic Growth ; Market entry ; Market orientation ; Markets and Market Access ; Microfinance ; Product quality ; Supply chain ; Supply chains ; Total sales
    Abstract: Using firm-level data on manufacturing sectors in Africa, this paper addresses how domestic supply constraints and other firm characteristics explain the geographical orientation of firms' exports and the overall market diversification of African manufacturing exports. The degree of market diversification, measured by the number of export destinations, is highly correlated with export intensity at the firm level, and both embody strong scale effects. Technological factors, such as new vintage capital and Internet access, which improve production efficiency and lower export costs, show strong effects on the firm-level export intensity. Some qualitative differences exist between Africa's regional exports and exports to the global markets. Foreign ownership is a significant factor in characterizing the intensity of global exports but not regional exports. The technological factors are significant in both cases, but more so in global exports. Public infrastructure constraints, such as inferior power services and customs delays, seem to have more immediate impacts on regional exports in general, implying the relevance of addressing behind-the-border constraints in fostering regional integration in Africa. Customs efficiency does matter for textile exports to the global markets, underscoring the importance of improving trade facilitation in Africa for competitive participation of African producers in global supply chain industries
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  • 80
    Language: English
    Pages: Online-Ressource (1 online resource (47 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Straub, Stephane Infrastructure And Economic Growth In East Asia
    Keywords: Banks and Banking Reform ; Bottlenecks ; Capital investment ; Economic Theory and Research ; Economies of scale ; Externalities ; Finance and Financial Sector Development ; Highway ; Infrastructure investment ; Infrastructure policies ; Macroeconomics and Economic Growth ; Non Bank Financial Institutions ; Poverty Reduction ; Pro-Poor Growth ; Road ; Roads ; Transport ; Transport ; Transport Economics, Policy and Planning ; Banks and Banking Reform ; Bottlenecks ; Capital investment ; Economic Theory and Research ; Economies of scale ; Externalities ; Finance and Financial Sector Development ; Highway ; Infrastructure investment ; Infrastructure policies ; Macroeconomics and Economic Growth ; Non Bank Financial Institutions ; Poverty Reduction ; Pro-Poor Growth ; Road ; Roads ; Transport ; Transport ; Transport Economics, Policy and Planning ; Banks and Banking Reform ; Bottlenecks ; Capital investment ; Economic Theory and Research ; Economies of scale ; Externalities ; Finance and Financial Sector Development ; Highway ; Infrastructure investment ; Infrastructure policies ; Macroeconomics and Economic Growth ; Non Bank Financial Institutions ; Poverty Reduction ; Pro-Poor Growth ; Road ; Roads ; Transport ; Transport ; Transport Economics, Policy and Planning
    Abstract: This paper examines whether infrastructure investment has contributed to East Asia's economic growth using both a growth accounting framework and cross-country regressions. For most of the variables used, both the growth accounting exercise and cross-country regressions fail to find a significant link between infrastructure, productivity and growth. These conclusions contrast strongly with previous studies finding positive and significant effect for all infrastructure variables in the context of a production function study. This leads us to conclude that results from studies using macro-level data should be considered with extreme caution. The Authors suggest that infrastructure investment may have had the primary function of relieving constraints and bottlenecks as they arose, as opposed to directly encouraging growth
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  • 81
    Language: English
    Pages: Online-Ressource (1 online resource (33 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Aloy, Marcel Intertemporal Adjustment And Fiscal Policy Under A Fixed Exchange Rate Regime
    Keywords: Currencies and Exchange Rates ; Currency ; Currency board ; Debt Markets ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Fiscal Policy ; Fixed Exchange Rate ; Fixed Exchange Rate Regime ; Macroeconomic stability ; Macroeconomics and Economic Growth ; Monetary policy ; Open economies ; Poverty Reduction ; Private Sector Development ; Real exchange rate ; Currencies and Exchange Rates ; Currency ; Currency board ; Debt Markets ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Fiscal Policy ; Fixed Exchange Rate ; Fixed Exchange Rate Regime ; Macroeconomic stability ; Macroeconomics and Economic Growth ; Monetary policy ; Open economies ; Poverty Reduction ; Private Sector Development ; Real exchange rate ; Currencies and Exchange Rates ; Currency ; Currency board ; Debt Markets ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Fiscal Policy ; Fixed Exchange Rate ; Fixed Exchange Rate Regime ; Macroeconomic stability ; Macroeconomics and Economic Growth ; Monetary policy ; Open economies ; Poverty Reduction ; Private Sector Development ; Real exchange rate
    Abstract: The paper presents a dynamic model for small to medium open economies operating under a fixed exchange rate regime. The model provides a partial explanation of the channels through which fiscal and monetary policy affects the real exchange rate. An empirical investigation is conducted for the case of Argentina during the currency board period of 1991-2001. Empirical estimates show that fiscal policy may indeed be an efficient instrument for promoting macroeconomic stability insofar as it encourages convergence toward long-run equilibrium and alters the long-term balance between exports and consumption, both private and public. The simulation applied to Argentina shows that if the share of public spending in the economy is higher than the share of imports, an increase in the tax rate will stimulate capital stock slightly, at least in the short term, and depreciate the real effective exchange rate. In the long run, the fiscal policy affects the value of the real exchange rate and consequently external competitiveness
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  • 82
    Language: English
    Pages: Online-Ressource (1 online resource (37 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Ratha, Dilip Beyond Aid
    Keywords: Access to Finance ; Access to capital ; Banks and Banking Reform ; Bonds ; Credit enhancement ; Creditworthiness ; Debt ; Debt Markets ; Debt relief ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Immunization ; Macroeconomics and Economic Growth ; Market access ; Private Sector Development ; Remittances ; Sovereign rating ; Access to Finance ; Access to capital ; Banks and Banking Reform ; Bonds ; Credit enhancement ; Creditworthiness ; Debt ; Debt Markets ; Debt relief ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Immunization ; Macroeconomics and Economic Growth ; Market access ; Private Sector Development ; Remittances ; Sovereign rating ; Access to Finance ; Access to capital ; Banks and Banking Reform ; Bonds ; Credit enhancement ; Creditworthiness ; Debt ; Debt Markets ; Debt relief ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Immunization ; Macroeconomics and Economic Growth ; Market access ; Private Sector Development ; Remittances ; Sovereign rating
    Abstract: Given Sub-Saharan Africa's enormous resource needs for growth, poverty reduction, and other Millennium Development Goals, the development community has little choice but to continue to explore new sources of financing, innovative private-to-private sector solutions, and public-private partnerships to mobilize additional international financing. The paper suggests several new instruments for improving access to capital. An analysis of country creditworthiness suggests that many countries in the region may be more creditworthy than previously believed. Establishing sovereign rating benchmarks and credit enhancement through guarantee instruments provided by multilateral aid agencies would facilitate market access. Creative financial structuring, such as the International Financing Facility for Immunization, would help front-load aid commitments, although these may not result in additional financing in the long run. Preliminary estimates suggest that Sub-Saharan African countries can potentially raise USD 1-3 billion by reducing the cost of international migrant remittances, USD 5-10 billion by issuing diaspora bonds, and USD 17 billion by securitizing future remittances and other future receivables. African countries that have recently received debt relief however need to be cautious when resorting to market-based borrowing
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  • 83
    Language: English
    Pages: Online-Ressource (1 online resource (45 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Anderson, Kym Measuring Distortions To Agricultural Incentives, Revisited
    Keywords: Agribusiness ; Agricultural Incentives ; Agricultural markets ; Agricultural policy ; Agriculture ; Agriculture ; Currencies and Exchange Rates ; Economic Theory and Research ; Emerging Markets ; Export ; Farm ; Farm products ; Farmers ; Finance and Financial Sector Development ; Import tariffs ; Macroeconomics and Economic Growth ; Markets and Market Access ; Private Sector Development ; Quantitative restrictions ; Agribusiness ; Agricultural Incentives ; Agricultural markets ; Agricultural policy ; Agriculture ; Agriculture ; Currencies and Exchange Rates ; Economic Theory and Research ; Emerging Markets ; Export ; Farm ; Farm products ; Farmers ; Finance and Financial Sector Development ; Import tariffs ; Macroeconomics and Economic Growth ; Markets and Market Access ; Private Sector Development ; Quantitative restrictions ; Agribusiness ; Agricultural Incentives ; Agricultural markets ; Agricultural policy ; Agriculture ; Agriculture ; Currencies and Exchange Rates ; Economic Theory and Research ; Emerging Markets ; Export ; Farm ; Farm products ; Farmers ; Finance and Financial Sector Development ; Import tariffs ; Macroeconomics and Economic Growth ; Markets and Market Access ; Private Sector Development ; Quantitative restrictions
    Abstract: Notwithstanding the tariffication component of the Uruguay Round Agreement on Agriculture, import tariffs on farm products continue to provide an incomplete indication of the extent to which agricultural producer and consumer incentives are distorted in national markets. Especially in developing countries, non-agricultural policies indirectly impact agricultural and food markets. Empirical analysis aimed at monitoring distortions to agricultural incentives thus need to examine both agricultural and non-agricultural policy measures including import or export taxes, subsidies and quantitative restrictions, plus domestic taxes or subsidies on farm outputs or inputs and consumer subsidies for food staples. This paper addresses the practical methodological issues that need to be faced when attempting to undertake such a measurement task in developing countries. The approach is illustrated in two ways: by presenting estimates of nominal and relative rates of assistance to farmers in China for the period 1981 to 2005; and by summarizing estimates from an economy-wide computable general equilibrium model of the effects on agricultural versus non-agricultural markets of the project's measured distortions globally as of 2004
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  • 84
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (62 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Mejia, Daniel Cocaine Production And Trafficking
    Keywords: Agriculture ; Alcohol and Substance Abuse ; Anxiety ; Cocaine ; Crack ; Crime ; Crime and Society ; Crops and Crop Management Systems ; Drug consumption ; Economic Theory and Research ; Fatigue ; Headaches ; Health Monitoring and Evaluation ; Health, Nutrition and Population ; Isolation ; Macroeconomics and Economic Growth ; Social Development ; Sodium ; Violence ; Agriculture ; Alcohol and Substance Abuse ; Anxiety ; Cocaine ; Crack ; Crime ; Crime and Society ; Crops and Crop Management Systems ; Drug consumption ; Economic Theory and Research ; Fatigue ; Headaches ; Health Monitoring and Evaluation ; Health, Nutrition and Population ; Isolation ; Macroeconomics and Economic Growth ; Social Development ; Sodium ; Violence ; Agriculture ; Alcohol and Substance Abuse ; Anxiety ; Cocaine ; Crack ; Crime ; Crime and Society ; Crops and Crop Management Systems ; Drug consumption ; Economic Theory and Research ; Fatigue ; Headaches ; Health Monitoring and Evaluation ; Health, Nutrition and Population ; Isolation ; Macroeconomics and Economic Growth ; Social Development ; Sodium ; Violence
    Abstract: The main purpose of this paper is to summarize the information currently available on cocaine production and trafficking. The paper starts by describing the available data on cocaine production and trade, the collection methodologies (if available) used by different sources, the main biases in the data, and the accuracy of different data sources. Next, it states some of the key empirical questions and hypotheses regarding cocaine production and trade and takes a first look at how well the data match these hypotheses. The paper states some of the main puzzles in the cocaine market and studies some of the possible explanations. These puzzles and empirical questions should guide future research on the key determinants of illicit drug production and trafficking. Finally, the paper studies the different policies that producer countries have adopted to fight against cocaine production and the role consumer countries play in the implementation of anti-drug policies
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  • 85
    Language: English
    Pages: Online-Ressource (1 online resource (48 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Javorcik, Beata S Do The Biggest Aisles Serve A Brighter Future?
    Keywords: Access to Markets ; Agriculture ; Dairy ; Debt Markets ; E-Business ; Economic Theory and Research ; Finance and Financial Sector Development ; Food ; Food and Beverage Industry ; Food products ; Fruit ; Hypermarkets ; Industry ; Information Security and Privac ; International Economics & Trade ; Labor Policies ; Macroeconomics and Economic Growth ; Markets and Market Access ; Microfinance ; Nuts ; Private Sector Development ; Social Protections and Labor ; Supermarket ; Supermarkets ; Surfactants ; Access to Markets ; Agriculture ; Dairy ; Debt Markets ; E-Business ; Economic Theory and Research ; Finance and Financial Sector Development ; Food ; Food and Beverage Industry ; Food products ; Fruit ; Hypermarkets ; Industry ; Information Security and Privac ; International Economics & Trade ; Labor Policies ; Macroeconomics and Economic Growth ; Markets and Market Access ; Microfinance ; Nuts ; Private Sector Development ; Social Protections and Labor ; Supermarket ; Supermarkets ; Surfactants ; Access to Markets ; Agriculture ; Dairy ; Debt Markets ; E-Business ; Economic Theory and Research ; Finance and Financial Sector Development ; Food ; Food and Beverage Industry ; Food products ; Fruit ; Hypermarkets ; Industry ; Information Security and Privac ; International Economics & Trade ; Labor Policies ; Macroeconomics and Economic Growth ; Markets and Market Access ; Microfinance ; Nuts ; Private Sector Development ; Social Protections and Labor ; Supermarket ; Supermarkets ; Surfactants
    Abstract: During the past two decades many economies have opened their retail sector to foreign direct investment, yet little is known about possible implications of such liberalization on the economies of developing host countries. Using firm-level data from Romania, this study examines how the presence of global retail chains affects firms in the supplying industries. Applying a difference-in-differences method, the econometric analyses yield the following conclusions. The expansion of global retail chains leads to a significant increase in the total factor productivity in the supplying industries. Their presence in a region increases the total factor productivity of firms in the supplying industries by 15.2 percent and doubling the number of chains leads to a 10.8 percent increase in total factor productivity. However, the expansion benefits larger firms the most and has a much smaller impact on small enterprises. This conclusion is robust to several extensions and specifications, including the instrumental variable approach. These results suggest that the opening of the retail sector to foreign direct investment may stimulate productivity growth in upstream manufacturing and extend our understanding of foreign direct investment in service sectors
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  • 86
    Language: English
    Pages: Online-Ressource (1 online resource (28 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Hoekman, Bernard Regulatory Cooperation, Aid For Trade And The General Agreement On Trade In Services
    Keywords: Banks and Banking Reform ; Best Market ; Business Practice ; Developing Countries ; Economic Theory and Research ; Emerging Markets ; Free Trade ; Growth Rate ; International Cooperation ; International Economics & Trade ; Liberalization ; Macroeconomics and Economic Growth ; Market Access ; Private Sector Development ; Regulators ; Technological Change ; Trade and Services ; World Trade ; Banks and Banking Reform ; Best Market ; Business Practice ; Developing Countries ; Economic Theory and Research ; Emerging Markets ; Free Trade ; Growth Rate ; International Cooperation ; International Economics & Trade ; Liberalization ; Macroeconomics and Economic Growth ; Market Access ; Private Sector Development ; Regulators ; Technological Change ; Trade and Services ; World Trade ; Banks and Banking Reform ; Best Market ; Business Practice ; Developing Countries ; Economic Theory and Research ; Emerging Markets ; Free Trade ; Growth Rate ; International Cooperation ; International Economics & Trade ; Liberalization ; Macroeconomics and Economic Growth ; Market Access ; Private Sector Development ; Regulators ; Technological Change ; Trade and Services ; World Trade
    Abstract: This paper discusses what could be done to expand services trade and investment through a multilateral agreement in the World Trade Organization. A distinction is made between market access liberalization and the regulatory preconditions for benefiting from market opening. The authors argue that prospects for multilateral services liberalization would be enhanced by making national treatment the objective of World Trade Organization services negotiations, thereby clarifying the scope of World Trade Organization commitments for regulators. Moreover, liberalization by smaller and poorer members of the World Trade Organization would be facilitated by complementary actions to strengthen regulatory capacity. If pursued as part of the operationalization of the World Trade Organization's 2006 Aid for Trade taskforce report, the World Trade Organization could become more relevant in promoting not just services liberalization but, more importantly, domestic reforms of services policies
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  • 87
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (38 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Hoekman, Bernard Services Trade And Growth
    Keywords: Banks and Banking Reform ; Comparative Advantage ; Competitiveness ; Economic Growth ; Economic Theory and Research ; Emerging Markets ; GDP ; ICT Policy and Strategies ; Information and Communication Technologies ; Macroeconomics and Economic Growth ; National Income ; Open Economies ; Per Capita Income ; Private Sector Development ; Productivity ; Structural Change ; Telecommunications ; Transport ; Transport Economics, Policy and Planning ; Banks and Banking Reform ; Comparative Advantage ; Competitiveness ; Economic Growth ; Economic Theory and Research ; Emerging Markets ; GDP ; ICT Policy and Strategies ; Information and Communication Technologies ; Macroeconomics and Economic Growth ; National Income ; Open Economies ; Per Capita Income ; Private Sector Development ; Productivity ; Structural Change ; Telecommunications ; Transport ; Transport Economics, Policy and Planning ; Banks and Banking Reform ; Comparative Advantage ; Competitiveness ; Economic Growth ; Economic Theory and Research ; Emerging Markets ; GDP ; ICT Policy and Strategies ; Information and Communication Technologies ; Macroeconomics and Economic Growth ; National Income ; Open Economies ; Per Capita Income ; Private Sector Development ; Productivity ; Structural Change ; Telecommunications ; Transport ; Transport Economics, Policy and Planning
    Abstract: The competitiveness of firms in open economies is increasingly determined by access to low-cost and high-quality producer services - telecommunications, transport and distribution services, financial intermediation, etc. This paper discusses the role of services in economic growth, focusing in particular on channels through which openness to trade in services may increase productivity at the level of the economy as a whole, industries and the firm. The authors explore what recent empirical work suggests could be done to enhance comparative advantage in the production and export of services and how to design policy reforms to open services markets to greater foreign participation in a way that ensures not just greater efficiency but also greater equity in terms of access to services
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  • 88
    Language: English
    Pages: Online-Ressource (1 online resource (54 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Anderson, Kym Distortions To Agricultural Incentives In Australia Since World War II
    RVK:
    Keywords: Agriculture ; Banks and Banking Reform ; Economic Theory and Research ; Emerging Markets ; GdP ; GdP Per Capita ; Growth Rate ; Income ; Labor Policies ; Macroeconomics and Economic Growth ; Multilateral Trade ; Per Capita Income ; Private Sector Development ; Rural Development Knowledge and Information Systems ; Social Protections and Labor ; Total Factor Productivity ; Trade Negotiations ; Trade Policy ; Agriculture ; Banks and Banking Reform ; Economic Theory and Research ; Emerging Markets ; GdP ; GdP Per Capita ; Growth Rate ; Income ; Labor Policies ; Macroeconomics and Economic Growth ; Multilateral Trade ; Per Capita Income ; Private Sector Development ; Rural Development Knowledge and Information Systems ; Social Protections and Labor ; Total Factor Productivity ; Trade Negotiations ; Trade Policy ; Agriculture ; Banks and Banking Reform ; Economic Theory and Research ; Emerging Markets ; GdP ; GdP Per Capita ; Growth Rate ; Income ; Labor Policies ; Macroeconomics and Economic Growth ; Multilateral Trade ; Per Capita Income ; Private Sector Development ; Rural Development Knowledge and Information Systems ; Social Protections and Labor ; Total Factor Productivity ; Trade Negotiations ; Trade Policy
    Abstract: Australia's lackluster economic growth performance in the first four decades following World War II was in part due to an anti-trade, anti-primary sector bias in government assistance policies. This paper provides new annual estimates of the extent of those biases since 1946 and their gradual phase-out during the past two decades. In doing so it reveals that the timing of the sector assistance cuts was such as sometimes to improve but sometimes to worsen the distortions to incentives faced by farmers. The changes increased the variation of assistance rates within agriculture during the 1950s and 1960s, reducing the welfare contribution of those programs in that period. Although the assistance pattern within agriculture appears not to have been strongly biased against exporters, its reform has coincided with a substantial increase in the export orientation of many farm industries. The overall pattern for Australia is contrasted with that revealed by comparable new estimates for other high-income countries
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  • 89
    Language: English
    Pages: Online-Ressource (1 online resource (37 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Gatti, Roberta Informality Among Formal Firms
    Keywords: Access To Credit ; Access To External Finance ; Access to Finance ; Balance Sheets ; Bankruptcy and Resolution of Financial Distress ; Banks ; Banks and Banking Reform ; Debt Markets ; Economic Theory and Research ; Exclusion ; External Finance ; Finance and Financial Sector Development ; Financial Institutions ; Financial Market ; International Bank ; Macroeconomics and Economic Growth ; Social Security ; Access To Credit ; Access To External Finance ; Access to Finance ; Balance Sheets ; Bankruptcy and Resolution of Financial Distress ; Banks ; Banks and Banking Reform ; Debt Markets ; Economic Theory and Research ; Exclusion ; External Finance ; Finance and Financial Sector Development ; Financial Institutions ; Financial Market ; International Bank ; Macroeconomics and Economic Growth ; Social Security ; Access To Credit ; Access To External Finance ; Access to Finance ; Balance Sheets ; Bankruptcy and Resolution of Financial Distress ; Banks ; Banks and Banking Reform ; Debt Markets ; Economic Theory and Research ; Exclusion ; External Finance ; Finance and Financial Sector Development ; Financial Institutions ; Financial Market ; International Bank ; Macroeconomics and Economic Growth ; Social Security
    Abstract: The authors use firm-level, cross-county data from Investment Climate surveys in 49 developing countries to investigate an important channel through which informality can affect productivity: access to credit and external finance. Informality is measured as self-reported lack of tax compliance in a sample of registered firms that also answered questions on a large set of other characteristics. The authors find that more tax compliance is significantly associated with more access to credit both in OLS and in country fixed effects estimates. In particular, the link between credit and formality is stronger in high-formality countries. This suggests that firms' balance sheets are relatively more informative for financial institutions in environments where signal extraction is a less noisy process. The authors' results are robust to the inclusion of a wide array of correlates and to two-stage estimation
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  • 90
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (27 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Hoff, Karla Joseph E. Stiglitz
    Keywords: Adverse Selection ; Debt Markets ; Development Economics ; Economic Theory ; Economic Theory and Research ; Economics ; Efficient Outcomes ; Finance and Financial Sector Development ; Financial Intermediation ; Imperfect Information ; Incentive Problems ; Innovation ; Labor Policies ; Macroeconomics and Economic Growth ; Market Economy ; Markets and Market Access ; Perfect Information ; Social Protections and Labor ; Adverse Selection ; Debt Markets ; Development Economics ; Economic Theory ; Economic Theory and Research ; Economics ; Efficient Outcomes ; Finance and Financial Sector Development ; Financial Intermediation ; Imperfect Information ; Incentive Problems ; Innovation ; Labor Policies ; Macroeconomics and Economic Growth ; Market Economy ; Markets and Market Access ; Perfect Information ; Social Protections and Labor ; Adverse Selection ; Debt Markets ; Development Economics ; Economic Theory ; Economic Theory and Research ; Economics ; Efficient Outcomes ; Finance and Financial Sector Development ; Financial Intermediation ; Imperfect Information ; Incentive Problems ; Innovation ; Labor Policies ; Macroeconomics and Economic Growth ; Market Economy ; Markets and Market Access ; Perfect Information ; Social Protections and Labor
    Abstract: Joseph E. Stiglitz, 2001 Nobel Laureate in Economics, helped create the theory of markets with asymmetric information and was one of the founders of modern development economics. He played a leading role in an intellectual revolution that changed the characterization of a market economy. In the new paradigm, the price system only imperfectly solves the information problem of scarcity because of the many other information problems that arise in the economy: the selection over hidden characteristics, the provision of incentives for hidden behaviors and for innovation, and the coordination of choices over institutions
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  • 91
    Language: English
    Pages: Online-Ressource (1 online resource (38 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Milanovic, Branko Where In The World Are You?
    Keywords: Economic Theory and Research ; Gini coefficient ; Income ; Income ; Income differences ; Income distribution ; Incomes ; Inequality ; Inequality ; Macroeconomics and Economic Growth ; Mean income ; Policy ReseaRch ; Poverty Diagnostics ; Poverty Impact Evaluation ; Poverty Reduction ; Relative position ; Social Protections and Labor ; Social mobility ; Economic Theory and Research ; Gini coefficient ; Income ; Income ; Income differences ; Income distribution ; Incomes ; Inequality ; Inequality ; Macroeconomics and Economic Growth ; Mean income ; Policy ReseaRch ; Poverty Diagnostics ; Poverty Impact Evaluation ; Poverty Reduction ; Relative position ; Social Protections and Labor ; Social mobility ; Economic Theory and Research ; Gini coefficient ; Income ; Income ; Income differences ; Income distribution ; Incomes ; Inequality ; Inequality ; Macroeconomics and Economic Growth ; Mean income ; Policy ReseaRch ; Poverty Diagnostics ; Poverty Impact Evaluation ; Poverty Reduction ; Relative position ; Social Protections and Labor ; Social mobility
    Abstract: Suppose that all people in the world are allocated only two characteristics: country where they live and income class within that country. Assume further that there is no migration. This paper shows that 90 percent of variability in people's global income position (percentile in world income distribution) is explained by only these two pieces of information. Mean country income (circumstance) explains 60 percent, and income class (both circumstance and effort) 30 percent of global income position. The author finds that about two-thirds of the latter number is due to circumstance (approximated by the estimated parental income class under various social mobility assumptions), which makes the overall share of circumstance unlikely to be less than 75-80 percent. On average, "drawing" one-notch higher income class (on a twenty-class scale) is equivalent to living in a 12 percent richer country. Once people are allocated their income class, it becomes important, not only whether the country they are allocated to is rich or poor, but whether it is egalitarian or not. This is particularly important for the people who "draw" low or high classes; for the middle classes, the country's income distribution is much less important than mean country income
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  • 92
    Language: English
    Pages: Online-Ressource (1 online resource (38 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Lopez-Cordova, J. Ernesto How Sensitive Are Latin American Exports To Chinese Competition In The U.S. Market?
    Keywords: Comparative advantage ; Competitiveness ; Debt Markets ; Economic Theory and Research ; Elasticity ; Elasticity of substitution ; Exports ; Finance and Financial Sector Development ; Forecasts ; Free Trade ; Free trade ; International Economics & Trade ; Low tariffs ; Macroeconomics and Economic Growth ; Markets and Market Access ; Public Sector Development ; Quotas ; Trade Policy ; Trade policy ; Comparative advantage ; Competitiveness ; Debt Markets ; Economic Theory and Research ; Elasticity ; Elasticity of substitution ; Exports ; Finance and Financial Sector Development ; Forecasts ; Free Trade ; Free trade ; International Economics & Trade ; Low tariffs ; Macroeconomics and Economic Growth ; Markets and Market Access ; Public Sector Development ; Quotas ; Trade Policy ; Trade policy ; Comparative advantage ; Competitiveness ; Debt Markets ; Economic Theory and Research ; Elasticity ; Elasticity of substitution ; Exports ; Finance and Financial Sector Development ; Forecasts ; Free Trade ; Free trade ; International Economics & Trade ; Low tariffs ; Macroeconomics and Economic Growth ; Markets and Market Access ; Public Sector Development ; Quotas ; Trade Policy ; Trade policy
    Abstract: This paper estimates the elasticity of substitution of U.S. imports using detailed trade data over the 1990-2003 period. The authors use a two-stage least squares framework in order to identify the elasticity parameter of interest. The authors use the elasticity estimates to assess the extent to which Latin American and Chinese goods compete in the U.S. market by providing forecasts of how alternative policy scenarios may affect exports to the United States. The analysis considers the following scenarios: (i) currency revaluation in China; (ii) elimination of U.S. tariffs on Latin American exports under a hemispheric free trade agreement; and (iii) the elimination of quotas on apparel and textile exports under the Multi-Fiber Agreement. The findings show that a 20-percent appreciation of the renminbi reduces Chinese exports to the United States by a fifth, although since other regions increase sales to that market (0.5 percent for Latin America), U.S. imports decline by only 1.7 percent. Hemispheric free trade would increase Latin America's exports to the United States by around 3 percent. The removal of the quotas would lead to a sharp increase in Chinese sales to the United States (40 percent), but Latin America would see its share of the U.S. market decline by around 2 percent (2.5 percentage points). China's gains would come mainly at the expense of other regions of the world
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  • 93
    Language: English
    Pages: Online-Ressource (1 online resource (41 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Lopez, J. Humberto Inequality In Latin America
    Keywords: Average income ; Economic Conditions and Volatility ; Economic Theory and Research ; Gini coefficient ; Impact of inequality ; Income ; Income inequality ; Inequality ; Inequality ; Inequality trends ; Macroeconomics and Economic Growth ; Output volatility ; Policy ReseaRch ; Poverty Reduction ; Poverty levels ; Pro-Poor Growth ; Rural Development ; Rural Poverty Reduction ; Average income ; Economic Conditions and Volatility ; Economic Theory and Research ; Gini coefficient ; Impact of inequality ; Income ; Income inequality ; Inequality ; Inequality ; Inequality trends ; Macroeconomics and Economic Growth ; Output volatility ; Policy ReseaRch ; Poverty Reduction ; Poverty levels ; Pro-Poor Growth ; Rural Development ; Rural Poverty Reduction ; Average income ; Economic Conditions and Volatility ; Economic Theory and Research ; Gini coefficient ; Impact of inequality ; Income ; Income inequality ; Inequality ; Inequality ; Inequality trends ; Macroeconomics and Economic Growth ; Output volatility ; Policy ReseaRch ; Poverty Reduction ; Poverty levels ; Pro-Poor Growth ; Rural Development ; Rural Poverty Reduction
    Abstract: Latin America is together with Sub-Saharan Africa the most unequal region of the world. This paper documents recent inequality trends in the Latin American region, going beyond traditional measures of income inequality. The paper also reviews some of the explanations that have been put forward to understand the current situation, and discusses why reducing income inequality should be an important policy priority. In particular, the authors discuss channels through which inequality can affect growth and output volatility. On the whole, the analysis suggests a two-pronged approach to reduce inequality in the region that combines policies aimed at improving the distribution of assets (especially education) with elements aimed at improving the capacity of the state to redistribute income through taxes and transfers
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  • 94
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (33 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Amin, Mohammad Competition And Demographics
    Keywords: Economic Theory and Research ; Education ; Emerging Markets ; Knowledge for Development ; Labor Policies ; Labor market ; Macroeconomics and Economic Growth ; Market competition ; Markets and Market Access ; Price setting ; Private Sector Development ; Product markets ; Retail ; Retail stores ; Retailing ; Social Protections and Labor ; Spread ; Suppliers ; Tying ; Economic Theory and Research ; Education ; Emerging Markets ; Knowledge for Development ; Labor Policies ; Labor market ; Macroeconomics and Economic Growth ; Market competition ; Markets and Market Access ; Price setting ; Private Sector Development ; Product markets ; Retail ; Retail stores ; Retailing ; Social Protections and Labor ; Spread ; Suppliers ; Tying ; Economic Theory and Research ; Education ; Emerging Markets ; Knowledge for Development ; Labor Policies ; Labor market ; Macroeconomics and Economic Growth ; Market competition ; Markets and Market Access ; Price setting ; Private Sector Development ; Product markets ; Retail ; Retail stores ; Retailing ; Social Protections and Labor ; Spread ; Suppliers ; Tying
    Abstract: Mainstream economics views demographic changes in the structure of households as of little relevance for the behavior of firms or the functioning of markets. The present paper dispels this view by arguing that changes in the number of non-workers could affect the intensity with which consumers search for best prices and therefore the level of competition. The author also analyzes the relationship between income and competition, which some studies suggest is negative. The author argues that the negative relationship is most likely due to the demographic factors discussed
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  • 95
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (57 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Arbache, Jorge Is Africa's Economy at a Turning Point?
    Keywords: Economic Conditions and Volatility ; Economic Theory and Research ; Emerging Markets ; Governance ; Governance Indicators ; Macroeconomics and Economic Growth ; Poverty Reduction ; Private Sector Development ; Pro-Poor Growth ; economic expansion, economic growth, economic performance, External Shocks, growth performance, growth rates, income, inflation, low-income countries, middle-income economies ; Economic Conditions and Volatility ; Economic Theory and Research ; Emerging Markets ; Governance ; Governance Indicators ; Macroeconomics and Economic Growth ; Poverty Reduction ; Private Sector Development ; Pro-Poor Growth ; economic expansion, economic growth, economic performance, External Shocks, growth performance, growth rates, income, inflation, low-income countries, middle-income economies ; Economic Conditions and Volatility ; Economic Theory and Research ; Emerging Markets ; Governance ; Governance Indicators ; Macroeconomics and Economic Growth ; Poverty Reduction ; Private Sector Development ; Pro-Poor Growth ; economic expansion, economic growth, economic performance, External Shocks, growth performance, growth rates, income, inflation, low-income countries, middle-income economies
    Abstract: In this paper, Arbache, Go, and Page examine the recent acceleration of growth in Africa. Unlike the past, the performance is now registered broadly across several types of countries-particularly the oil-exporting and resource-intensive countries and, in more recent years, the large- and middle-income economies, as well as coastal and low-income countries. The analysis confirms a trend break in the mid-1990s, identifying a growth acceleration that is due not only to favorable terms of trade and greater aid, but also to better policy. Indeed, the growth diagnostics show that more and more African countries have been able to avoid mistakes with better macropolicy, better governance, and fewer conflicts; as a result, the likelihood of growth decelerations has declined significantly. Nonetheless, the sustainability of that growth is fragile, because economic fundamentals, such as savings, investment, productivity, and export diversification, remain stagnant. The good news in the story is that African economies appear to have learned how to avoid the mistakes that led to the frequent growth collapses between 1975 and 1995. The bad news is that much less is known about the recipes for long-term success in development, such as developing the right institutions and the policies to raise savings and diversify exports, than about how to avoid economic bad times
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  • 96
    Language: English
    Pages: Online-Ressource (1 online resource (26 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Bogetic, Zeljko Achieving Accelerated And Shared Growth In Ghana
    Keywords: Development Economics ; Development Goals ; Economic Theory and Research ; Health, Nutrition and Population ; Human capital ; Human development ; Macroeconomic stability ; Macroeconomics and Economic Growth ; Policy ReseaRch ; Policy packages ; Population Policies ; Poverty Reduction ; Poverty Reduction ; Pro-Poor Growth ; Public Sector Economics and Finance ; Public Sector Expenditure Analysis and Management ; Rapid growth ; Unskilled labor ; Development Economics ; Development Goals ; Economic Theory and Research ; Health, Nutrition and Population ; Human capital ; Human development ; Macroeconomic stability ; Macroeconomics and Economic Growth ; Policy ReseaRch ; Policy packages ; Population Policies ; Poverty Reduction ; Poverty Reduction ; Pro-Poor Growth ; Public Sector Economics and Finance ; Public Sector Expenditure Analysis and Management ; Rapid growth ; Unskilled labor ; Development Economics ; Development Goals ; Economic Theory and Research ; Health, Nutrition and Population ; Human capital ; Human development ; Macroeconomic stability ; Macroeconomics and Economic Growth ; Policy ReseaRch ; Policy packages ; Population Policies ; Poverty Reduction ; Poverty Reduction ; Pro-Poor Growth ; Public Sector Economics and Finance ; Public Sector Expenditure Analysis and Management ; Rapid growth ; Unskilled labor
    Abstract: This paper relies on the recently developed Maquette for Millennium Development Goals Simulations (MAMS) model to assess the consistency of alternative scaling-up and policy packages for growth and achievement of the Millennium Development Goals in Ghana. In the baseline scenario, Ghana's strong near and medium-term growth outlook puts it in a good position to achieve the poverty Millennium Development Goal ahead of schedule, but other goals are likely to remain elusive before 2015. In the accelerated growth scenario-which addresses the major gaps in water and sanitation and other infrastructure-even more rapid growth and poverty reduction are possible, but important targets in the areas of education, health, and environment remain unattainable. Although growth is complementary to achievement of the Millennium Development Goals, the authors also find important growth-human development trade-offs in the near term. The estimates show that the resource requirements for achieving the key Millennium Development Goals by 2015 are large, reaching US
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  • 97
    Language: English
    Pages: Online-Ressource (1 online resource (53 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Raddatz, Claudio Credit Chains And Sectoral Comovement
    Keywords: Access to Finance ; Adverse effect ; Bankruptcy ; Bankruptcy and Resolution of Financial Distress ; Business cycles ; Central Bank ; Debt ; Debt Markets ; Economic Theory and Research ; Finance and Financial Sector Development ; Interest rate ; Investment and Investment Climate ; Liquidity ; Macroeconomics ; Macroeconomics and Economic Growth ; Risk neutral ; Value added ; Access to Finance ; Adverse effect ; Bankruptcy ; Bankruptcy and Resolution of Financial Distress ; Business cycles ; Central Bank ; Debt ; Debt Markets ; Economic Theory and Research ; Finance and Financial Sector Development ; Interest rate ; Investment and Investment Climate ; Liquidity ; Macroeconomics ; Macroeconomics and Economic Growth ; Risk neutral ; Value added ; Access to Finance ; Adverse effect ; Bankruptcy ; Bankruptcy and Resolution of Financial Distress ; Business cycles ; Central Bank ; Debt ; Debt Markets ; Economic Theory and Research ; Finance and Financial Sector Development ; Interest rate ; Investment and Investment Climate ; Liquidity ; Macroeconomics ; Macroeconomics and Economic Growth ; Risk neutral ; Value added
    Abstract: This paper provides evidence of the presence and relevance of a credit-chain amplification mechanism by looking at its implications for the correlation of industries. In particular, it tests the hypothesis that an increase in the use of trade-credit along the input-output chain linking two industries results in an increase in their correlation. The analysis uses detailed data on the correlations and input-output relations of 378 manufacturing industry-pairs across 44 countries with different degrees of use of trade credit. The results provide strong support for this hypothesis and indicate that the mechanism is quantitatively relevant
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  • 98
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (58 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Medvedev, Denis Preferential Liberalization And Its Economy-Wide Effects In Honduras
    Keywords: Bilateral trade ; Comparative advantage ; Currencies and Exchange Rates ; Debt Markets ; Economic Theory and Research ; Economic implications ; Emerging Markets ; Finance and Financial Sector Development ; Free Trade ; Free Trade ; Income ; International Economics & Trade ; Macroeconomics and Economic Growth ; Open economy ; Private Sector Development ; Productivity ; Safety nets ; Trade liberalization ; Trade policy ; Bilateral trade ; Comparative advantage ; Currencies and Exchange Rates ; Debt Markets ; Economic Theory and Research ; Economic implications ; Emerging Markets ; Finance and Financial Sector Development ; Free Trade ; Free Trade ; Income ; International Economics & Trade ; Macroeconomics and Economic Growth ; Open economy ; Private Sector Development ; Productivity ; Safety nets ; Trade liberalization ; Trade policy ; Bilateral trade ; Comparative advantage ; Currencies and Exchange Rates ; Debt Markets ; Economic Theory and Research ; Economic implications ; Emerging Markets ; Finance and Financial Sector Development ; Free Trade ; Free Trade ; Income ; International Economics & Trade ; Macroeconomics and Economic Growth ; Open economy ; Private Sector Development ; Productivity ; Safety nets ; Trade liberalization ; Trade policy
    Abstract: This paper quantifies the likely benefits of trade and investment liberalization in a small, poor, open economy, using the accession of Honduras to the Dominican Republic-Central American Free Trade Agreement as a case study. The results show that bilateral trade liberalization with the United States is likely to have almost no effect on welfare in Honduras, while the reciprocal removal of protection vis-a-vis the rest of Central America would lead to significantly larger gains. Potential gains from increased net foreign direct investment inflows overwhelm those expected from trade reform alone, particularly if the new foreign direct investment generates productivity spillovers. However, if it is to replace Honduran investment rather than complement domestic capital formation, growth performance is unlikely to improve and may even suffer. The paper's results identify several areas for policy attention by Honduran policy makers to make the Dominican Republic-Central American Free Trade Agreement more development-friendly. These include carefully considering the budgetary implications of trade reform, widening social safety nets to counter the trends toward increasing income inequality, and sequencing the reforms to ensure a close alignment of Honduras' comparative advantage on the regional and global markets
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  • 99
    Language: English
    Pages: Online-Ressource (1 online resource (35 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Ezemenari, Kene The Fiscal Impact of Foreign Aid In Rwanda
    Keywords: Debt ; Debt Markets ; Economic Theory and Research ; Expenditure ; Finance and Financial Sector Development ; Fiscal policy ; Foreign direct investment ; Government revenue ; International Bank ; Investment and Investment Climate ; Macroeconomics and Economic Growth ; Public Sector Economics and Finance ; Public Sector Expenditure Analysis and Management ; Public investment ; Public investments ; Tax ; Tax rate ; Debt ; Debt Markets ; Economic Theory and Research ; Expenditure ; Finance and Financial Sector Development ; Fiscal policy ; Foreign direct investment ; Government revenue ; International Bank ; Investment and Investment Climate ; Macroeconomics and Economic Growth ; Public Sector Economics and Finance ; Public Sector Expenditure Analysis and Management ; Public investment ; Public investments ; Tax ; Tax rate ; Debt ; Debt Markets ; Economic Theory and Research ; Expenditure ; Finance and Financial Sector Development ; Fiscal policy ; Foreign direct investment ; Government revenue ; International Bank ; Investment and Investment Climate ; Macroeconomics and Economic Growth ; Public Sector Economics and Finance ; Public Sector Expenditure Analysis and Management ; Public investment ; Public investments ; Tax ; Tax rate
    Abstract: The inflow of large quantities of foreign aid into Rwanda since 1994 can have potential adverse effects such as aid dependency via a significant negative effect on tax efforts and on public investments. This paper carries out a theoretical and empirical study to examine these issues. The theoretical part develops a model in which the recipient government decides on the optimal level of tax and optimally allocates total government revenue between current expenditure and public investment. The theoretical model makes it possible to empirically test whether an increase in aid is likely to reduce the optimal tax rate and the proportion of public expenditure allocated to public investment. The econometric analysis uses time series data on Rwanda to show, in line with other studies in the literature, a negative relationship between increased aid and the tax rate; but the magnitude of the effects are extremely small. In the case of Rwanda, reforms to the tax administration and expansion of the tax base have had mitigating effects. As far as the effect on public investment, the overall effect was negative in the past; however, since 1995 the direction of this effect has changed
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  • 100
    Language: English
    Pages: Online-Ressource (1 online resource (32 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Byrd, William A Responding To Afghanistan's Opium Economy Challenge
    Keywords: Agricultural products ; Agriculture ; Alcohol and Substance Abuse ; Crops and Crop Management Systems ; Economic Theory and Research ; Farm-gate ; Health, Nutrition and Population ; Macroeconomics and Economic Growth ; Opium ; Opium Economy ; Opium poppy ; Opium production ; Poppy cultivation ; Poverty Reduction ; Poverty Reduction ; Rural Development ; Rural Poverty Reduction ; Rural households ; Rural population ; Agricultural products ; Agriculture ; Alcohol and Substance Abuse ; Crops and Crop Management Systems ; Economic Theory and Research ; Farm-gate ; Health, Nutrition and Population ; Macroeconomics and Economic Growth ; Opium ; Opium Economy ; Opium poppy ; Opium production ; Poppy cultivation ; Poverty Reduction ; Poverty Reduction ; Rural Development ; Rural Poverty Reduction ; Rural households ; Rural population ; Agricultural products ; Agriculture ; Alcohol and Substance Abuse ; Crops and Crop Management Systems ; Economic Theory and Research ; Farm-gate ; Health, Nutrition and Population ; Macroeconomics and Economic Growth ; Opium ; Opium Economy ; Opium poppy ; Opium production ; Poppy cultivation ; Poverty Reduction ; Poverty Reduction ; Rural Development ; Rural Poverty Reduction ; Rural households ; Rural population
    Abstract: Opium, Afghanistan's leading economic activity, lies at the heart of the challenges the country faces in state building, governance, security, and development. With their narrow law enforcement focus and limited recognition of development, security, and political implications, current global counter-narcotics polices impose a heavy burden on Afghanistan. This paper first provides a summary overview of Afghanistan's opium economy and the factors determining rural households' decisions on cultivating opium poppy. It then discusses the dynamic evolution of the Afghan drug industry in recent years, in particular its consolidation around fewer, powerful, politically-connected actors and the associated compromising of parts of some government agencies by drug industry interests. The paper reviews the experience with different counter-narcotics interventions, analyzes some proposals not yet tried in Afghanistan, and draws lessons and policy implications. Unfortunately there are no "silver bullets"-easy, quick, or one-dimensional solutions, and a longer-term horizon along with sustained commitment and resources will be required in order to phase out the opium economy over time. The paper concludes by putting forward some broad principles and approaches of a "smart strategy" against drugs in Afghanistan
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