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  • Washington, D.C : The World Bank  (582)
  • Emerging Markets  (382)
  • Public Sector Development  (272)
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  • 101
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Private Sector Development, Privatization, and Industrial Policy
    Keywords: Agribusiness ; Business Environment ; Business in Development ; Emerging Markets ; Energy Sector ; Private Sector ; Private Sector Development ; Private Sector Economics
    Abstract: Malawi is at a turning point in its political, social, and economic trajectory. Lazarus Chakwera was sworn in as Malawi's sixth president in June 2020. This marked a historic moment: the first time in Africa that an opposition candidate won a presidential election following initial results being overturned. After widespread unrest prior to the election, Malawians, especially the youth, have been demanding greater accountability, an end to corruption, and tangible progress on eradicating persistent poverty levels that exceed 70 percent of the population. The average gross national income (GNI) of a Malawian is the third lowest in the world, just USD 380 as of 2019. The Chakwera administration will need to find a way to unify the country's fractured political landscape and deliver on development promises. On top of these challenges, the new administration must also navigate the ongoing and evolving economic shocks of the COVID-19 pandemic. Gross domestic product (GDP) growth expectations for 2020 have been lowered from 4.8 percent to 0.8 percent. Recent efforts to build fiscal and institutional resilience have helped but need to be strengthened. The pandemic's fallout has weakened the country's macroeconomic foundations, and the overall risk of debt distress is now high. Meanwhile, human capital gains are at risk. Poverty reduction is expected to stagnate, and overall poverty could potentially worsen. The pandemic will likely exacerbate existing inequalities in economic opportunities for women. Women-owned firms, for example, are primarily concentrated in informal agriculture and services, sectors that lack basic social protections to buffer against economic distress. Female farmers, for example, generally have lower access to productive inputs, information, and liquidity than male farmers, so in times of crisis, their farm productivity and food security can be hit harder
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  • 102
    Language: English
    Pages: 1 Online-Ressource (41 pages)
    Parallel Title: Erscheint auch als Print Version: Vagliasindi, Maria What have we Learned about the Effectiveness of Infrastructure Investment as a Fiscal Stimulus? A Literature Review
    Keywords: Business Cycles and Stabilization Policies ; Coronavirus ; Countercyclical Policy ; COVID-19 ; Economic Growth ; Fiscal and Monetary Policy ; Fiscal Stimulus ; Infrastructure Economics ; Infrastructure Economics and Finance ; Infrastructure Investment ; Macroeconomic Management ; Macroeconomics and Economic Growth ; Pandemic Response ; Public Sector Development
    Abstract: Since the Great Depression of the 1930s, and through the more recent Asian Crisis of 1997 and Great Recession of 2008/09, governments have experimented with Keynesian style fiscal stimulus to support employment and accelerate economic recovery. The effectiveness of these policies depends on the size of fiscal multipliers. A large body of economic literature has estimated such multipliers, with gradually increasing precision, due to econometric improvements and better ways to identify fiscal impulses. Overall, the largest multipliers are found to be associated with public investment, as opposed to other types of spending. Such public investment multipliers are typically below one in the short run, but studies with multi-year horizons suggest that values higher than unity can be attained over time. The size of multipliers is sensitive to economic conditions. During recessions, and periods of high unemployment, transfer payments appear sometimes to offer higher multipliers than public investment. An important exception is when fiscal and monetary policies are closely coordinated and interest rates approach zero, conditions that provide the strongest evidence for the efficacy of public investment multipliers. Other institutional factors also play a crucial role in determining the size of the public investment multiplier, in particular the country's absorptive capacity, and the selection of high-quality shovel ready projects. However, there is limited empirical evidence available on the magnitude of fiscal multipliers in developing country settings, or for infrastructure sectors or subsectors specifically. The few studies available suggest that certain types of green infrastructure (energy efficiency, solar energy, and so forth) may bring employment benefits in the short run, while innovative digital infrastructure may yield longer-run benefits for economic growth. The relevance of these findings to the current COVID-19 crisis is explored
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  • 103
    Language: English
    Pages: 1 Online-Ressource (32 pages)
    Parallel Title: Erscheint auch als Print Version: Bogetic, Zeljko Measuring Untapped Revenue Potential in Developing Countries: Cross-Country Frontier and Panel Data Analysis
    Keywords: Data Envelopment Analysis ; Domestic Revenue Mobilization ; Macroeconomics and Economic Growth ; Public Sector Development ; Tax Potential ; Tax Revenue ; Taxation ; Taxation and Subsidies
    Abstract: Efforts aimed at supporting domestic revenue mobilization in developing countries are often designed and evaluated based on empirical indicators, such as revenue-to-GDP ratios, which capture differences in achieved outcomes across countries. This paper studies a complementary approach to estimate domestic revenue potential that also takes into account differences in countries' fundamental economic structures and constraints associated with different capacities to raise domestic revenues, which are not captured by simple revenue-to-GDP ratios. Specifically, nonparametric data envelopment analysis is applied to estimate domestic revenue potential in a panel of 118 low- and middle-income countries from 2008 to 2019. The analysis addresses the following research questions: (i) How efficient are low-income countries compared with richer countries in mobilizing domestic revenues given the national economic conditions and resources available to each country? (ii) What factors account for the variation in relative domestic revenue mobilization efficiency, that is, the fact that some countries generate more revenues than other countries with comparable economic structures? The paper discusses the policy implications of the findings and demonstrates how the proposed method can be used to identify countries that are already performing close to their limit and those that still feature large untapped potential for further increasing revenues (and thus likely higher marginal benefits to external support for domestic revenue mobilization). Finally, the paper provides insights on the extent to which existing international support for domestic revenue mobilization is targeted at countries with larger untapped revenue potential
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  • 104
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other papers
    Keywords: Business Cycles and Stabilization Policies ; Coronavirus ; COVID-19 ; Macroeconomic Management ; Macroeconomics and Economic Growth ; Public Sector Development ; State-Owned Enterprises
    Abstract: Economic shocks and crises typically lead to a sharp increase in government expenditure arrears with corrosive effects on the economy. In order to assess the evolution of government expenditure arrears during the Coronavirus (COVID-19) crisis, the World Bank collected information on public expenditure arrears in client countries in June 2020. The results of this initial data collection exercise are reported in an MTI Insight Note (An Overview of the Potential Impact of the Coronavirus (COVID-19) Crisis on the Accumulation of government Expenditure Arrears), which also discusses the definition of government expenditure arrears, measurement and reporting issues, the main drivers and economic consequences of arrears accumulation, and options for preventing and managing arrears accumulation. This note presents an update based on information available by February 2021
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  • 105
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other papers
    Keywords: Climate Change Impacts ; Environment ; Hazard Risk Management ; Natural Disasters ; Public Sector Development ; Urban Development
    Abstract: Public financial management (PFM) is one of the key government instruments of supporting effective preparation, response, and resilience to disasters. Yet many PFM institutions, systems, and processes lack disaster resilience and responsiveness. In times of growing awareness of the impacts of climate change on good governance as well as the impacts of the recent COVID-19 pandemic on the way public finances are planned, executed, and accounted for, governments need to be able to optimize the allocation and execution of public resources. Disaster resilient and responsive public financial management (DRR-PFM) promotes (i) proactive and planned disaster risk reduction and climate change adaptation; and (ii) timely and fiscally prudent response and recovery from natural disasters and other shocks and stresses. Fiscal response to disasters in the Caribbean is neither strategic nor efficient in most instances, and emergency finance procedures are often undocumented, ad hoc, coincidental and sometimes inefficient. Surprisingly, given the frequency of natural disasters in the Caribbean, national authorities provide little guidance on how to expedite public financial, public procurement, and public investment management to swiftly respond to or rebuild after disasters. Public assets are not systematically tracked and are financially under-protected, making it difficult to quickly carry out accurate post-disaster needs assessments or to replace destroyed assets
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  • 106
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Financial Sector Study
    Keywords: Coronavirus ; COVID-19 ; Finance and Development ; Finance and Financial Sector Development ; Financial Structures ; Non Bank Financial Institutions ; Private Sector Development ; Public Sector Development ; Small and Medium Size Enterprises ; State-Owned Banks
    Abstract: In recent years, there has been renewed interest in providing countercyclical lending and sustainable development financing through national development financial institutions (NDFIs). While NDFIs are often a feasible solution for addressing development needs and closing financing gaps, they are not always the best solution, and their setup and structure need to be tailored to the country's needs. It is important that prior to setting up a new NDFI or increasing the scope of operations of the existing ones, governments consider all available public policy interventions as well as options for private capital involvement to address unmet financing needs of the private sector. NDFIs will likely see strong demand for their interventions in a post- Coronavirus disease 2019 (COVID-19) recovery phase. This calls for enhanced NDFI efficiency and effectiveness. To maximize the net benefits of NDFIs and ensure their financial sustainability, NDFIs should be effectively managed and properly supervised. NDFIs have been important actors in the implementation of countercyclical finance in response to the COVID-19 pandemic and have helped mitigate a credit crunch. During the COVID-19 pandemic, governments have taken on large balance-sheet risks to support credit growth, in many cases using NDFIs as administrators of public anti-crisis programs
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  • 107
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Financial Sector Study
    Keywords: Conflict and Development ; Disaster Management ; Environment ; Finance and Development ; Finance and Financial Sector Development ; Natural Disasters ; Public and Municipal Finance ; Public Finance ; Public Sector Development ; Sovereign Debt
    Abstract: Implicit contingent liabilities, such as those generated by natural disasters, are often not quantified in the government balance sheet. However, when they materialize, they place pressure on government finances that may raise interest expenditures and financial risks. Understanding the impacts of disaster risk on sovereign assets and liabilities plays a key part in understanding the potential impact of sovereign disaster risk finance strategies which allow governments to reduce the costs and risks of disasters using prearranged financing and insurance methods. Applying the Sovereign Asset and Liability Management (SALM) framework is a new and comprehensive way of looking at the potential impact of a disaster on the public sector balance sheet through assets and liabilities. This paper introduces a framework that identifies three channels through which natural disaster will impact SALM. This framework is applied in three case studies, Peru, Serbia and New Zealand to derive lessons about the potential impact of natural disasters on the sovereign balance sheet and highlight the importance of accounting for disaster impacts across public sector balance sheets. The application of SALM can increase countries' resilience to financial shocks posed by disaster risk through improved understanding of the impacts of disaster risk on both sides of the sovereign balance sheet. Going forward it could even be used to define a country's risk tolerance to disaster risk, monitor changes in this position and help to inform policy design on disaster risk and where needed support the introduction of financial instruments to manage disaster risk
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  • 108
    Language: English
    Pages: 1 Online-Ressource (47 pages)
    Parallel Title: Erscheint auch als Print Version: Shamsuddin, Mrittika Economic and Fiscal Impacts of Venezuelan Refugees and Migrants in Brazil
    Keywords: Access of Poor To Social Services ; Displaced Persons ; Employment and Unemployment ; Fiscal Trends ; Forced Displacement ; Labor Market ; Migrants ; Poverty Reduction ; Public Sector Development ; Refugees ; Rural Development ; Rural Labor Markets ; Services and Transfers To Poor
    Abstract: As more and more Venezuelans leave their country, fleeing the economic and social crisis, the number of Venezuelans in Brazil has risen steadily since 2016, constituting about 18 percent of Brazil's 1.3 million refugee and migrant population as of October 2020. Although the economic gains of immigration are well-documented in the literature, the impacts of forced displacement on the labor market and government budget are mixed and have mainly focused on developed countries. This paper extends the previous literature by exploring the short-run fiscal impact of Venezuelan refugees and migrants on the public expenditure and revenue of Roraima, the state bordering the Republica Bolivariana de Venezuela at the north and the main gateway of the Venezuelan refugees and migrants entering Brazil, and by investigating their impact on its labor market. Using various administrative and survey data and a regression discontinuity framework, the paper finds that the population shock caused by the influx of forcibly displaced Venezuelans in the short-run did not have any statistically significant effect on the fiscal variables of Roraima. On the labor market, the paper finds that the population shock translated into an increase in unemployment among women and a decrease in employment among women and low skilled workers in the short-run. The effects on earnings are heterogenous across industries, but mainly positive for the high skilled and male workers, suggesting a need for cross-cutting policies that target the most vulnerable host population as well as the forcibly displaced
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  • 109
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Health Study
    Keywords: Health Economics and Finance ; Health Finance ; Health, Nutrition and Population ; Public Sector Development
    Abstract: Most countries are commit ...
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  • 110
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (45 pages)
    Parallel Title: Erscheint auch als Print Version: Okunogbe, Oyebola The Promise and Limitations of Information Technology for Tax Mobilization
    Keywords: Information and Communication Technologies ; Information Technology ; Law and Development ; Public Sector Development ; Revenue Mobilization ; Tax Administration ; Tax Compliance ; Tax Law ; Taxation
    Abstract: Tax revenue in many low-income countries is inadequate for funding investments in public goods and human capital. While tax systems have been adopting new technologies to improve tax collection for many years, limitations to in-person interactions due to COVID-19 have further highlighted the role of information technology in tax mobilization. This paper examines the potential of technology to transform tax administration by helping to identify the tax base, facilitate compliance, and monitor compliance. It also identifies possible limitations to the use of technology arising from inadequate infrastructure and connectivity, lack of adoption (or resistance) by taxpayers and tax collectors, lack of institutional mainstreaming, and an unsupportive regulatory environment
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  • 111
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Social Protection and Labor Discussion Papers
    Keywords: Cash Transfers ; Coronavirus ; COVID-19 ; Disease Control and Prevention ; Employment ; Employment and Unemployment ; Health, Nutrition and Population ; Inequality ; Labor Markets ; Labor Policies ; Poverty ; Poverty Reduction ; Public Sector Development ; Social Insurance ; Social Protections and Assistance ; Social Protections and Labor
    Abstract: Countries in the Middle E ...
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  • 112
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Health Study
    Keywords: Health Economics and Finance ; Health, Nutrition and Population ; Public Sector Development ; Public Spending
    Abstract: Armenia has made significant gains in population health, but faces challenges in ensuring health care access, due to financial barriers. As mortality caused by infectious diseases has fallen over the past two decades, the prevalence of noncommunicable diseases (NCDs) has increased. The NCD burden can be reduced via public health measures, such as tobacco control exposure, and access to high-quality health care. However, financial barriers to access are a significant challenge
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  • 113
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Poverty Study
    Keywords: Macroeconomics and Economic Growth ; Political Economy ; Poverty Lines ; Poverty Reduction ; Public Sector Development ; Public Sector Management and Reform ; Public Service Delivery ; Urban Development ; Urban Economic Development
    Abstract: Archipelagic Economies examines the geographic dispersion of Pacific islands' populations and its socio-economic consequences. The study presents new measures of geographic dispersion that show the uniqueness of the Pacific island countries' human geography. It offers a closer look at the socio-economic situation of dispersed island populations, the internal movement of people that connects communities across islands, and the political economy landscape that underpins spatial economic policy decisions. A particular focus of this book is on policy options for dealing with the challenges faced by many outer islands - limited economic opportunities, costly service delivery, obstacles to connectivity by sea, air, and ICT, and urbanization in an era of climate change
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  • 114
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Public Expenditure Review
    Keywords: Health Economics and Finance ; Health, Nutrition and Population ; Nutrition ; Public Sector Development ; Public Spending
    Abstract: The main purpose of this Guiding Framework document is to present the key elements of a Nutrition Public Expenditure Review (NPER) and offer guidance, practical steps, and examples on carrying out an NPER. It targets a wide-ranging audience, including country nutrition policy makers, development partners (DPs), government technical staff, and advocates and practitioners who are tasked with carrying out NPERs (who are also the main target audience). The Guiding Framework draws upon good practices from the growing body of NPERs as well as common practices and expertise from Public Expenditure Reviews (PERs). However, given the limited number of existing NPERs, this document should be considered as a starting point, or a 'living document,' and is not meant to provide a comprehensive coverage of a standard methodology for NPERs, as this would require further work and analysis. Specifically, this Guiding Framework aims to be a useful tool for practitioners involved in developing an NPER. It does this by: (i) situating NPERs within the context of other similar efforts such as a nutrition budget analysis or sector-specific PERs; (ii) presenting the literature of existing NPERs and related literature to serve as reference; (iii) providing guidance on preparatory work before beginning an NPER (i.e., defining the scope, setting up an NPER team, and identifying data sources); (iv) providing guidance on conducting the core analysis (i.e.,framing the analysis, analyzing the institutional framework, and linking the analysis to the policy dialogue); and (v) clearly identifying knowledge gaps and necessary additional work to enhance the robustness of future NPER analysis
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  • 115
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Institutional and Governance Review
    Keywords: Business Environment ; Business Regulation ; Debt Management ; Equity ; Governance ; Macroeconomic Management ; Macroeconomics and Economic Growth ; National Governance ; Public Sector Development ; Public Sector Management and Reform ; Social Inclusion ; Sovereign Debt
    Abstract: The Country Policy and Institutional Assessment (CPIA) 2021 Africa report provides an assessment of the quality of policies and institutions of International Development Association (IDA); eligible countries in Sub-Saharan Africa in calendar year 2020, at the height of the COVID-19 pandemic. The report analyzes the CPIA scores for 2020 to assess the extent to which the policies and institutions of the region's IDA countries are fostering sustainable growth, poverty reduction, and the effective utilization of development resources. The CPIA scores quantify the level of performance of each country against 16 criteria that represent the policy and institutional arrangements of an effective poverty reduction and growth strategy. The criteria are grouped into four clusters: economic management, structural policies, policies for social inclusion and equity, and public sector management and institutions. Countries are rated on a scale between 1 and 6, with high and rising scores signifying stronger policy and institutional frameworks
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  • 116
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Education Study
    Keywords: Education ; Public Sector Development ; Social Protections and Labor
    Abstract: This study used qualitative data analysis to draw both theoretical and practical lessons from diverse experiences with RBF at the meso-level of the education sector, particularly in low and middle-income countries. We drew upon the experiences of those who have designed, implemented and/or researched such RBF initiatives. The review included four different sources of data: 1) academic literature; 2) project documents; 3) a global survey; and 4) key stakeholder interviews
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  • 117
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Social Protection Study
    Keywords: Administrative and Civil Service Reform ; Coronavirus ; COVID-19 ; Disease Control and Prevention ; Health, Nutrition and Population ; Poverty Reduction ; Public Sector Development ; Services and Transfers to Poor ; Social Protections and Assistance ; Social Protections and Labor
    Abstract: The Auxilio Emergencial (AE) was one of the most agile, robust, and extensive social protection programs implemented by developing countries. Having reached up to 55.6 percent of the population, considering both direct and indirect beneficiaries, the program has shown impacts in improving the average income and reducing the prevalence of poverty and inequality (as measured by the Gini index1 ), compared to immediate pre-pandemic levels. The success of the program can be attributed both to its robustness and to its complex architecture, marked by innovations which should be analyzed by their integration potential in relation to regular social protection policies and measures to increase adaptation to the social protection system, both in Brazil and in other countries
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  • 118
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Systematic Country Diagnostics
    Keywords: Access and Equity in Basic Education ; Education ; Inequality ; Poverty Reduction ; Public Sector Development ; Public Sector Management and Reform ; Skills Development and Labor Force Training ; Social Protections and Labor
    Abstract: This World Bank Group Systematic Country Diagnostic (SCD) 2021 Update presents a diagnostic of Bangladesh's growth and poverty reduction since the previous diagnostic in 2015. It identifies emerging opportunities and challenges for the next decade as the country recovers from the COVID-19 pandemic, graduates from least-developed-country (LDC) status, and aspires to become an upper middle-income country (UMIC) by 2031. This SCD Update identifies four frontier challenges that, if tackled properly, can enable the country to accelerate its transition. This SCD Update identifies eight priorities to tackle these four frontier challenges
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  • 119
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Public Sector Study
    Keywords: Decentralization ; Governance ; Local Government ; Public Sector Development ; Public Sector Management and Reform
    Abstract: Over the past twenty years, Indonesia has pursued an ambitious policy agenda for decentralization. Indonesia's subnational governments play a key role in providing frontline services. In 2014, Indonesia's Village Law ushered in a new chapter in the country's decentralization agenda. The law establishes a legal and financial foundation for villages to contribute to Indonesia's rural development. In 2020, village transfers accounted for around ten percent of all subnational transfers, playing an important role in Indonesia's Coronavirus (COVID-19) response strategy. Despite these positive results, several frontier issues in the overall decentralization agenda hinder villages' contributing potential to improving frontline service delivery. This report categorizes these structural challenges into four broad categories of regulatory challenges, coordination gaps, limited capacity building systems, and fragmentation in accountability systems. The report aims to show how overcoming these structural challenges can enable the government to institutionalize systems of accountability and participation into its wider service delivery framework
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  • 120
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Public Expenditure Review
    Keywords: Governance ; Local Government ; Public Sector Development
    Abstract: This report represents the largest assessment of village spending since the enactment of the Village Law. The findings presented here are based on a public expenditure analysis of financial data from 45,625 rural villages across 248 districts and 33 provinces. This represents over 58 percent of all villages, although coverage of villages by province varies between 5 percent in Papua Barat to 100 percent in Bali. The objective of this report is to provide an initial assessment of Indonesia's village spending and budget credibility, which will in turn strengthen the ability of the Government of Indonesia and village administrations to solve the pressing problems facing rural communities. The report is structured into four parts: analysis of village reporting, expenditures, revenues, and performance
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  • 121
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Country Economic Memorandum
    Keywords: Climate Change ; Education ; Education Finance ; Health Economics and Finance ; Health, Nutrition and Population ; Human Capital ; Labor Market ; Labor Mobility ; Public Sector Development
    Abstract: This joint Country Economic Memorandum (CEM) and Public Expenditure Review (PER) aims to support the Government of the Republic of the Marshall Islands (GoRMI) to identify a prioritized and sequenced set of reforms to drive increased economic growth, resilience, and fiscal sustainability. The study has two objectives. First, to improve understanding of the challenges, opportunities, and risks to achieving sustainable economic growth and job creation in the Republic of the Marshall Islands (RMI). Second, to improve the management of public resources to support long-term economic development, fiscal sustainability, and service delivery. The assessment aims to balance the need for reform to drive higher prosperity and resilience with GoRMI's limited capacity to design and implement reforms and provide public goods and services. The reform priorities identified are also consistent with the RMI's National Strategic Plan 2020-30, which articulates the nation's vision to build a resilient, productive, and self-supportive RMI. This Executive Summary is structured in three sections. The first section provides a brief background to RMI and the structure of the economy. The second section summarizes the key issues and challenges to achieving GoRMI's long-term development objectives under five themes: (i) the management of public finances; (ii) public service delivery; (iii) the fisheries sector; (iv) the labor market and labor mobility; and (v) disaster resilience and climate change. The final section outlines key recommendations under the same five themes
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  • 122
    Language: English
    Pages: 1 Online-Ressource (29 pages)
    Parallel Title: Erscheint auch als Print Version: Ansar, Saniya Changing Perceptions of Institutions and Standard of Living in Iraq
    Keywords: Corruption ; Employment ; Governance ; Leadership Approval Rating ; National Governance ; Public Confidence ; Public Sector Development ; Quality Of Life ; Service Delivery
    Abstract: The history of Iraq over the past decade is a stark example of increasing vertical and horizontal inequalities, preceding and following a period of violent conflict. This paper uses a cross-section of individual-level nationally representative survey data to study relationships around how adults in Iraq report confidence in national institutions, quality of life, and quality of service delivery. The findings show that positive perceptions across these categories declined during ISIS-control and have slowly picked up in recent years. Men are more likely than women in the post-ISIS period to report lower country leadership approval ratings, a weaker standard of living, and depressed job prospects. The analysis finds that self-identified Shias, Kurds, and adults living in Baghdad are significantly more likely to have a poorer quality of life, compared with Sunnis, in the post-ISIS period. Nearly all ethno-religious groups, in all periods, perceive the government to be corrupt
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  • 123
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (35 pages)
    Parallel Title: Erscheint auch als Print Version: Kose, M. Ayhan The Aftermath of Debt Surges
    Keywords: Debt Burden ; Debt Markets ; Debt Restructuring ; Debt Service ; Debt Sustainability ; Economic Growth ; Economic Policy, Institutions and Governance ; Finance and Financial Sector Development ; Financial Repression ; Fiscal and Monetary Policy ; Fiscal Consolidation ; Inflation ; Macroeconomics and Economic Growth ; Public Sector Development
    Abstract: Debt in emerging market and developing economies (EMDEs) is at its highest level in half a century. In about nine out of 10 EMDEs, debt is higher now than it was in 2010 and, in half of the EMDEs, debt is more than 30 percentage points of gross domestic product higher. Historically, elevated debt levels increased the incidence of debt distress, particularly in EMDEs and particularly when financial market conditions turned less benign. This paper reviews an encompassing menu of options that have, in the past, helped lower debt burdens. Specifically, it examines orthodox options (enhancing growth, fiscal consolidation, privatization, and wealth taxation) and heterodox options (inflation, financial repression, debt default and restructuring). The mix of feasible options depends on country characteristics and the type of debt. However, none of these options comes without political, economic, and social costs. Some options may ultimately be ineffective unless vigorously implemented. Policy reversals in difficult times have been common. The challenges associated with debt reduction raise questions of global governance, including to what extent advanced economies can cast their net wider to cushion prospective shocks to EMDEs
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  • 124
    Language: English
    Pages: 1 Online-Ressource (33 pages)
    Parallel Title: Erscheint auch als Print Version: Klingebiel, Daniela Central Bank Governance and Reserve Portfolios Investment Policies: An Empirical Analysis
    Keywords: Central Bank ; Central Bank Governance ; Finance and Financial Sector Development ; Financial Crisis Management and Restructuring ; Financial Structures ; Macroeconomic Management ; Macroeconomics and Economic Growth ; Public Investment Management ; Public Sector Development ; Reserve Management Policy ; Risk Tolerance
    Abstract: This paper uses a unique survey data set of 105 central banks to investigate whether investment policies for central bank foreign reserve portfolios are linked to the governance arrangements for reserve management. The paper evaluates whether a central bank's investment decision-making structure impacts how much risk institutions take in their reserve management operations and the level of diversity in their reserve portfolios. Additionally, it explores the implications of the broader governance environment on reserve management. The analysis yields four key findings. First, internal governance arrangements matter for foreign reserve portfolio investment policy; the empirical results indicate that reserve portfolios are more diversified in central banks in which the middle office directly reports to the board. Second, controlling for the level of reserves, the macroenvironment, and the broader governance environment, reserve portfolios are more diversified in central banks where the back, middle, and front offices are separated. Third, the regression analysis also reveals that central banks in countries where the Ministry of Finance has an obligation to cover negative equity have fewer eligible currencies and are therefore less diversified. Fourth, central banks where boards actively exercise portfolio oversight usually have portfolios with more risk and diversification. Portfolios with longer investment horizons, more currencies, and a broader set of asset classes have performed better historically while limiting downside risk. Given that the analysis controls the broader governance environment, the data indicate that any central bank can improve its internal governance regardless of the external governance environment. This paper contributes to the literature on central bank foreign reserves management and on understanding the importance of governance arrangements in investment policy
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  • 125
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other papers
    Keywords: Climate Change Impacts ; Environment ; Hazard Risk Management ; Natural Disasters ; Public Sector Development ; Urban Development
    Abstract: The Caribbean Disaster Risk Financing (DRF) framework of the World Bank has been collaboratively designed in partnerships with Caribbean Governments and local and international stakeholders. The framework helps consolidate and preserve physical disaster risk reduction measures in countries by limiting the residual fiscal impacts, caused by the materialization of public contingent liabilities in the wake of a disaster. Most Caribbean countries show strong volatilities in their budgets in the wake of disasters or during a health crisis such as the current Covid-19 pandemic. Their economies have historically lacked enough diversity to be flexible in adapting to rapid and, in some cases, relatively frequent economic shocks caused by disasters. A comprehensive DRF strategy helps alleviate the financial burden of disaster response and, ultimately, ensure the sustainability of public finances
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  • 126
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Systematic Country Diagnostics
    Keywords: Coronavirus ; COVID-19 ; Economic Growth ; Employment ; Employment and Unemployment ; Gender ; Human Capital ; Inequality ; Labor Market ; Macroeconomics and Economic Growth ; Poverty Reduction ; Public Debt ; Public Investment ; Public Sector Development ; Social Protections and Labor ; Total Factor Productivity ; Transparency
    Abstract: Systematic Country Diagnostics (SCDs) analyze the most critical constraints and opportunities to ending extreme poverty and promoting shared prosperity in a sustainable manner. The first SCD for Egypt was published in 2015. A lot has happened since then, so this SCD Update takes advantage of a longer stretch of reforms and newer data up to 2019 to identify and again assess the set of priorities through which Egypt can most effectively and sustainably achieve the goals of poverty reduction and shared prosperity
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  • 127
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Policy Notes
    Keywords: Cash Transfers ; Labor Market ; Poverty Reduction ; Public Sector Development ; Services and Transfers to Poor ; Social Protections and Assistance ; Social Protections and Labor
    Abstract: Policy making requires categorizations, which are commensurate with strategic directions. Social protection is a term, which can be used to describe a broad range of programs. The National Social Security Strategy (NSSS) of Bangladesh has a rather broad scope, covering what many define as safety nets or social assistance, as well as insurance against some risks, programs addressing shocks, and interventions focused on employment or productivity. This policy note analyses the extent to which resources are allocated efficiently, in line with national strategies and priorities. In particular, this policy note discusses the importance of policy relevant categorization/classification of programs; gaps and challenges in resource allocation in respect to the needs of different demographic and socio-economic groups and/or in respect to functions Social protection (SP) programs are supposed to play. It proposes reforms which could address some of the challenges identified
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  • 128
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Financial Accountability Study
    Keywords: Emerging Markets ; Finance and Development ; Finance and Financial Sector Development ; Insurance ; Insurance and Risk Mitigation ; Private Sector Development
    Abstract: This paper develops a theme identified in recent insurance sector development work: that more developed insurance markets are desirable as insurers play a more effective institutional investment role, whether this objective seeks deeper and more liquid bond or capital markets, or to see more investment in long term assets such as infrastructure or in support of climate finance. It explores the perspective of domestic insurers, summarizing positions regarding asset selection and key drivers of current and desired asset structures. The paper draws on interviews in several deep-dive countries supplemented by additional engagement for a more representative global reach. It then discusses a range of solutions that may be considered by policymakers categorized under efforts to: grow the sector so it can play a more substantive role; improve how assets are packaged and made available to insurance companies so they are more investable; review risk-based capital rules to ensure that they encourage and reward the right behavior; and check other regulations do not present unintended barriers. The paper concludes that, although domestic insurers are interested in making investments that meet these goals, they are constrained by barriers that are almost entirely external to their own operations and outside their control. With some adjustment to supply and regulatory settings, insurers should translate their interest into action, increasing their role and improving the contribution to this desirable development outcome. The paper is intended to be particularly relevant for policymakers and practitioners with less experience within insurance company operations who are looking to better understand and respond to insurance decision making
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  • 129
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Public Expenditure Review
    Keywords: Access of Poor To Social Services ; Decentralization ; Poverty ; Poverty Reduction ; Public Sector Development ; Services and Transfers to Poor ; Social Insurance ; Social Protections and Assistance ; Social Protections and Labor
    Abstract: Nepal's recent transition to a federal state structure provides a historic juncture to realize the role that social protection can play in achieving the constitutional goals of equity, inclusion, and prosperity. The transition to a federal structure of governance and the promulgation of a new Constitution founded on the principles of equity, inclusion, and prosperity for all have brought about tremendous expectations for the previously marginalized and discriminated poor and vulnerable segments of the population. Social protection (SP) programs, which have been proven to contribute to poverty reduction and inclusive growth, have the potential to play a significant role in meeting these expectations and realizing the objectives of federalism. The report is structured as follows, with each chapter concluding with a set of recommendations based on the analysis. Chapter 2 Provides an overall analysis of social protection expenditure trends, an assessment of ability of social assistance programs; Chapter 3 Assesses the policy and institutional framework for design and delivery of social protection programs in the decentralized federal context; and Chapter 4 Provides an overview of planning, budgeting, fund flow, and reporting processes for social protection programs at federal, province, and local levels
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  • 130
    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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  • 131
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (93 pages)
    Parallel Title: Erscheint auch als Print Version: Chalendard, Cyril Corruption in Customs
    Keywords: Corruption ; Customs ; International Economics and Trade ; Law and Development ; Public Sector Development ; Tariff Evasion ; Tax Enforcement ; Trade Law ; Trade Policy
    Abstract: This paper presents a new methodology to detect corruption in customs and applies it to Madagascar's main portrait Manipulation of assignment of import declarations to inspectors is identified by measuring deviations from random assignment prescribed by official rules. Deviant declarations are more at risk of tax evasion, yet less likely to be deemed fraudulent by inspectors, who also clear them faster. An intervention in which inspector assignment was delegated to a third party validates the approach, but also triggered a novel manifestation of manipulation that rejuvenated systemic corruption. Tax revenue losses associated with the corruption scheme are approximately 3 percent of total taxes collected and highly concentrated among a select few inspectors and brokers
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  • 132
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (42 pages)
    Parallel Title: Erscheint auch als Print Version: Catalano, Michele Fiscal Policies for a Sustainable Recovery and a Green Transformation
    Keywords: Climate Change ; Climate Change and Environment ; Climate Change Mitigation and Green House Gases ; Environment ; Environment and Energy Efficiency ; Fiscal Policy ; Global Warming ; Government Policy ; Green Growth ; Green Issues ; International Economics ; Public Sector Development
    Abstract: This paper compares the effectiveness of different fiscal policy instruments-carbon pricing, fiscal incentives for private green investments, and public green investment-in supporting a green recovery that is also fiscally sustainable. It argues that relying on carbon pricing or green investments is not sufficient to achieve the transition to a low-carbon economy in a timely and sustainable way. Carbon pricing alone would result in rapid and significant energy price increases that would be recessionary. Similarly, the level of public green investment needed to reach the Paris goals without recourse to carbon pricing would be so great that it would endanger debt sustainability. The conclusion from the simulations supports the view that a mix of supply-side policies (carbon pricing) and demand-side interventions (deficit financed green public investment) is necessary to achieve the Paris goals within the specified period and with a fiscally sustainable outcome. The paper also assesses the costs associated with transitioning to a low-carbon economy by geographic area. It finds that deficit financed public green investment by high-emitting countries only (typically advanced and emerging economies), would have positive growth impacts for those countries and enhance their fiscal sustainability, while also providing large positive spillovers to other countries, particularly to highly climate sensitive nations. In turn, the simulations show that wherever fiscally feasible it is in the best interest of all countries to increase public investment in the green economy
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  • 133
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Country Economic Memorandum
    Keywords: Economic Growth ; Energy Sector ; Fiscal Policy ; Health ; Macroeconomics and Economic Growth ; Public Sector Development ; State-Owned Banks ; State-Owned Enterprises
    Abstract: Uzbekistan's transition from planning to market started almost thirty years ago following its independence from the Soviet Union. For most of this period, economic modernization and transformation were stalled, with little change in institutions and policies from those prevailing at the time of the planned economy. In late 2016, Uzbekistan surprised by launching reforms with a breadth and speed that at times exceeded the pace of those observed in some of the earlier reformers at a similar stage of the process. In November 2018, building on the results from more than a year of economic reforms, the government announced the agenda for the next phase of its bold and ambitious economic transformation. In terms of the pace of transition, Uzbekistan's record has been mixed but appropriate, given that reforms are dependent on experience with markets and prices, initial conditions, and institutional strength. Before the Coronavirus (COVID-19) pandemic started, the reform momentum was supported by comfortable external and fiscal buffers and a robust global economy. The buffers are still sizable, even with doubling of public debt since 2017, and a sign of strength but the pull from the global economy has been substantially diminished. The rest of the introduction reviews progress in the key areas of economic transformation
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  • 134
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Public Expenditure Review
    Keywords: Cash Transfers ; Coronavirus ; COVID-19 ; Disease Control and Prevention ; Fiscal Policy ; Health, Nutrition and Population ; Household Income ; Inequality ; Poverty ; Poverty Reduction ; Public Sector Development ; Services and Transfers To Poor ; Social Protections and Assistance ; Social Protections and Labor
    Abstract: This note will examine the distributional and efficiency issues associated with the fiscal response to the COVID-19 (coronavirus) crisis in Da Nang city and nationally in Vietnam. More specifically, we look at the social assistance (cash transfer) programs. Did these programs efficiently reach people who were the most in need Was the amount of support and the duration of programs sufficient Based on the World Bank COVID-19 monitoring surveys, national-level results indicate that cash transfer programs may have ended prematurely and were not received by the poorest groups or by those who lost their jobs due to pandemic-related factors. Official data also show that the scope of the implementation was smaller than planned, both in the number of new beneficiaries who received access and in terms of the amount spent
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  • 135
    Language: English
    Pages: 1 Online-Ressource (39 pages)
    Parallel Title: Erscheint auch als Print Version: Okunogbe, Oyebola Becoming Legible to the State: The Role of Detection and Enforcement Capacity in Tax Compliance
    Keywords: Fiscal Capacity ; Law and Development ; Public Sector Development ; Real Estate Tax ; State Capacity ; Tax Compliance ; Tax Enforcement ; Tax Law ; Taxation ; Technology
    Abstract: Tax revenue in many low-income countries is inadequate for funding government investment in infrastructure and public services. This paper examines two dimensions of low state capacity that hinder tax collection: the inability to ascertain the tax base (detection capacity) and the inability to enforce unpaid liabilities (enforcement capacity). A randomized experiment with Liberian property owners finds that using identifying information from a newly developed property database to alert property owners that their noncompliance has been detected quadruples the tax payment rate, but only when the notice includes details on the penalties for noncompliance. A second experiment finds a further increase in compliance from signaling greater enforcement probability to delinquent property owners. These results highlight the importance of investments in both detection and enforcement capacity
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  • 136
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Public Sector Study
    Keywords: Employment and Unemployment ; Fiscal Sustainability ; Labor Markets ; Public Sector Development ; Social Protections and Labor
    Abstract: This paper aims to provide a framework for conducting public sector employment and compensation assessments that can help develop evidence-based reforms. Such a framework is necessary given growing debt distress and the need for greater expenditure efficiency in many of the World Bank's client countries, and also due to the urgency for addressing global challenges like pandemics, climate change, building human capital, and reducing inequality, all of which require a strong role for the public sector
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  • 137
    Language: English
    Pages: 1 Online-Ressource (70 pages)
    Parallel Title: Erscheint auch als Di Maro, Vincenzo Building State Capacity: What is the Impact of Development Projects?
    Keywords: Decentralization ; Governance ; National Governance ; Performance-Based Financing ; Public Sector Development ; State Capacity
    Abstract: Although research has established the importance of state capacity in economic development, less is known about how to build that capacity and the role of external partners in the process. This paper estimates the impact of a typical development project designed to build state capacity in a low-income country. Specifically, it evaluates a multilateral development bank project in Tanzania, which incentivized investments in local state capacity by offering grants conditional on institutional performance scores. The paper uses a difference-in-differences methodology to estimate the project impact, comparing outcomes between 18 project and 22 non-project local governments over 2016-18. Outcomes were measured through two rounds of primary surveys of nearly 500 local government officials and nearly 3,000 households. Over the course of the project, measured state capacity improved in project areas, but due to comparable gains in non-project areas, the project's value-added to change in state capacity is estimated to be zero across all the dozens of relevant variables in the surveys. The data suggest that state capacity is evolving in Tanzania through endogenous changes in trust and legitimacy in the country rather than from financial incentives offered by external partners
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  • 138
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Social Protection Study
    Keywords: Cash Transfers ; Coronavirus ; COVID-19 ; Poverty Reduction ; Public Sector Development ; Services and Transfers To Poor ; Social Protections and Assistance ; Social Protections and Labor
    Abstract: This report presents the findings of a process evaluation for the Coronavirus disease 2019 (COVID-19) urban cash intervention (CUCI) program. The CUCI was initiated by the Government of Malawi in 2020 to help mitigate the adverse health and economic effects of COVID-19 on urban poor populations in Lilongwe, Blantyre, Zomba, and Mzuzu. CUCI is the first major cash transfer program in Malawi to focus on urban areas. It therefore provides a conducive and fertile learning ground for shaping future policy and programming, both in terms of urban cash transfers and shock-responsive interventions. The goal of this process evaluation is to understand the quality of implementation of CUCI at each stage of the delivery chain, with a view to informing future policies and programs. The study looks at what, how, and why CUCI activities were implemented, what worked well, and what did not work well along the nine stages of CUCI's delivery chain. The assessment also integrates the four building blocks of adaptive social protection, id est, programs; data and information systems; finance; and institutional arrangements and partnerships - across all stages of the delivery chain. The process evaluation plans to draw lessons that can inform medium- to long-term considerations regarding the design and implementation of both urban safety nets and shock sensitive social protection policies and programs. The section lays out the context in which the CUCI was designed and implemented. It does this through examining the impacts of COVID-19 and social protection responses by governments - firstly at a global and regional level, and then with regard to Malawi
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  • 139
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Country Procurement Assessment
    Keywords: Public Procurement ; Public Sector Development ; Public Sector Management and Reform ; Social Development ; Social Policy
    Abstract: Efficient procurement procedures save time and money, opening up much needed fiscal space, yet modern public procurement can also serve as a tool for achieving broader socioeconomic policy change. Government purchasing decisions, including more strategic use of technology, can be used to maximize value for money as defined by a concept of "value" that goes beyond fiscal savings to include broader policy goals such as environmental sustainability, support for small enterprises, or protection of vulnerable groups in society. This report outlines the key challenges and opportunities in moving toward modern procurement systems around the world and makes the case for a global procurement partnership to strengthen development effectiveness through better understanding and implementation of procurement reforms
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  • 140
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Mining, Oil and Gas
    Keywords: Energy ; Industry ; Mining Sector ; Public Sector Development
    Abstract: Mining dominates the Mongolian economy, already accounting for some 80 percent of exports and contributing a quarter of gross domestic product (GDP). In July 2020, the newly elected government reaffirmed its commitment to bring into production more of Mongolia's mineral deposits and to process minerals locally instead of exporting them. Its objectives are to boost government revenues, retain more value in-country, and create conditions for more diversified economic growth in the future. Further commercial development of Mongolia's mineral resources, for which substantial financing will be required, faces several challenges. The challenges and opportunities identified confront the government as it seeks to advance mining sector "megaprojects." Careful consideration of the role that the government plays as owner of mineral resources is central to more optimal development of the mining sector and the government's approach to mobilizing finance. As recommended in the World Bank's Policy Notes(July 2020), the government may need to develop a more effective strategy to allocate scarce public funds and mobilize fresh private capital to support development of the mining sector. The purpose of this analysis is to prompt an open debate based on policy evidence derived from robust analysis of options and trade-offs that can lead to an actionable reform agenda
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  • 141
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Private Sector Development, Privatization, and Industrial Policy
    Keywords: Access To Finance ; Agribusiness ; Business Environment ; Emerging Markets ; Human Capital ; Private Sector Development ; Private Sector Economics
    Abstract: The report is organized as follows: the first part gives an overview of recent economic and private sector trends, followed by an in-depth review of the cross-cutting constraints that affect private sector participation. The CPSD recommends putting a special focus on resolving three types of constraints: (a) deep-rooted governance issues (especially as they relate to policy unpredictability, red tape, and the uneven playing field in key sectors of the economy); (b) infrastructure bottlenecks, focusing on transport connectivity and energy; and (c) limited and poorly functioning factor markets for human capital, access to finance, and land. The second part lays out opportunities and policy options to strengthen competitiveness in agribusiness, apparel, and tourism. The three sectors reviewed are deemed to hold a high potential for job creation and growth and have been prioritized by the PEM and by the private sector stakeholders and development partners consulted for the report. The review puts a lens on addressing gender gaps, policies to promote sustainability, and opportunities to increase the impact of information and communication technology (ICT) as an enabler for development, where relevant
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  • 142
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Private Sector Development, Privatization, and Industrial Policy
    Keywords: Business Environment ; Emerging Markets ; Microenterprises ; Private Sector ; Private Sector Development ; Private Sector Economics ; Sustainability
    Abstract: This country private sector diagnostic (CPSD) for the Kyrgyz Republic assesses the barriers and opportunities for a more forceful development of the private sector in the country. Between 2000 and 2019, gross domestic product (GDP) growth rate averaged 4.4 percent, enabling the Kyrgyz Republic's ascension to lower-middle-income country status by 2014. Economic growth has been unstable as its sources lacked diversity and were vulnerable to external shocks. Economic growth has been unstable as its sources lacked diversity and were vulnerable to external shocks. If the Kyrgyz Republic wants to inaugurate a new era of faster, more sustainable economic growth, it must more aggressively develop its private sector to support economic diversification and improve productivity
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  • 143
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other papers
    Keywords: Coronavirus ; COVID-19 ; Fiscal and Monetary Policy ; Fiscal Policy ; Macroeconomics and Economic Growth ; Public Sector Development ; Public Sector Reform ; Public Service Delivery
    Abstract: The Royal Government of Cambodia (RGC) has made a strong commitment to strengthening public service delivery through three interrelated public sector reform initiatives: Public Financial Management Reform Program (PFMRP), National Program for Public Administration Reform (NPAR), and Decentralization and Deconcentration (D and D) reforms. D and D reforms began at the commune and sangkat (CS) level, the lowest tier of sub-national administrations (SNAs), with the direct election of CS councils in 2002. This study reviews the recent changes in Cambodia's intergovernmental fiscal architecture. It starts with the description of the overall sub-national system, then delves into the challenges of managing different aspects of the reform, such as assigning expenditure responsibilities and financing sources. It also assesses the strengths and weaknesses of the public financial management systems at the sub-national levels. The emphasis is at the district and municipality (DM) level, where more service delivery functions and resources are expected to be transferred. The research is based on an extensive review of government documents and regulatory framework, quantitative data analysis, and fieldwork conducted in March 2020. Drawing on its findings, the study offers policy recommendations on how the country's inter-governmental fiscal architecture can be improved over the short and long-term horizons
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  • 144
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other papers
    Keywords: Climate Change ; Climate Change and Environment ; Climate Change Mitigation and Green House Gases ; Environment ; Environmental Economics and Policies ; Governance ; Local Government ; National Governance ; Public Sector Development
    Abstract: There are still many countries around the world that have not effectively engaged their subnational governments in their climate change strategies and policy frameworks. Where subnational levels are involved, generally they still play a relatively small role. This paper examines how the principles of fiscal decentralization design (in expenditure and revenue assignments, transfers, and borrowing) can be adapted to successfully engage subnational governments in fighting climate change. In addition, the paper critically reviews ongoing international practices, both effective and less effective, that involve subnational governments in climate change mitigation and adaptation. Shared responsibility for policy and program design and implementation, fee-or charge-funded adaptation activities, objective-targeted intergovernmental transfers, and the use of green bonds are some of the most promising approaches analyzed. Clearly, there is ample space ahead for the further involvement of subnational governments across the world in combating climate change
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  • 145
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Energy Sector Management Assistance Program Papers
    Keywords: Accountability ; Electric Power ; Energy ; Energy Demand ; Energy Policies and Economics ; Power Generation ; Power Sector Reform ; Public Sector Development ; Transparency ; Utilities
    Abstract: Robust corporate governance is vital if power utilities are to perform well (Irwin and Yamamoto 2004; Foster and Rana 2020). Corporate governance has internal and external dimensions. Aspects of internal governance include board autonomy, the quality of board proceedings, separation of board and CEO roles, and clear expectations for the CEO's performance. These expectations should then cascade down through management and staff. Employment policies help to ensure the presence of high-quality management and staff who can meet expectations. The methodical collection of data helps in monitoring performance of management, staff, and board. This means appropriate and supporting information systems must be available. This paper analyzes the data collected under UPBEAT's T and A mandate to draw conclusions on the status of the region's utilities. It also identifies what we call 'quick wins', simple achievements that could make utilities more transparent in the short term and spark important reforms. The paper first presents an overview of the literature and discusses objectives and methodology. It then moves on to present current T and A findings, making a case for certain improvements. Third, it recommends ways to obtain some quick wins. Fourth, and finally, the paper suggests ways to expand UPBEAT so it can track broader governance variables in the future
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  • 146
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other papers
    Keywords: Employment ; Gender ; Gender and Economic Policy ; Inequality ; Labor Policies ; Poverty Reduction ; Public Sector Development ; Social Protections and Labor
    Abstract: Ghana's public works program, Labour-Intensive Public Works (LIPW), was initiated in 2010 with the goal of providing short-term employment opportunities to the poorest and building community assets. Public works programs have the potential to promote social inclusion by benefiting vulnerable groups, particularly youth and women. The LIPW program in its operational design, included provisions to support women workers, including having on-site creches and latrines and provided flexibility of employment so that women could easily access the program. Although, the program did not exclude qualified youth, operational designs did not lay emphasis on youth engagement. The LIPW program could be positioned as a youth employment avenue, as well as promoting social inclusion and enhancing the overall well-being of its beneficiaries. As such, this study reviews the operational opportunities within the Ghana LIPW program design targeting women and youth and provides recommendations for enhancing social inclusion for these groups in future programming. This study will be useful for public works program implementers, as well as policy makers, looking to boost social inclusion within their programming
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  • 147
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Country Partnership Frameworks
    Keywords: Access and Equity in Basic Education ; Education ; Governance ; Infrastructure Economics and Finance ; International Governmental Organizations ; National Governance ; Partnerships ; Poverty ; Poverty Reduction ; Private Participation in Infrastructure ; Public Sector Development ; Public Sector Management and Reform
    Abstract: Iraq is at a crossroads. The Iraqi government struggles to navigate internal as well as regional security challenges. Despite the current uncertain circumstances, the Country Partnership Framework (CPF) provides a suitable country engagement instrument to support Iraq's progress and builds off of longstanding World Bank Group (WBG) engagement and partnership with Iraq, including in the period since the last CPF and Performance Learning Review (PLR). This CPF is organized under two pillars and supported by foundational elements - (i) improved governance, public service delivery, and private sector participation, and (ii) strengthened human capital
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  • 148
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Procurement Study
    Keywords: Competition ; Competition Policy ; Governance ; National Governance ; Private Sector Development ; Public Procurement ; Public Sector Development ; Transparency
    Abstract: Procurement of commonly used items is a challenge for government agencies. If the items are repeatedly purchased in one-off fashion, so that the total volume is significant, there may be potential problems like loss of economy of scale, loss of efficiency, lower competition, and no long-term partnership with suppliers. Framework agreements (FAs) have emerged as a potential solution for the issues. Many countries (particularly in Americas and Europe) have used FAs successfully, though the use of FAs by countries outside these regions is still very low. Hence there is tremendous potential for scaling-up the use of FAs in developing countries. This study uses public procurement data from Brazil and Colombia, two major users of FAs. The subsequent chapters will describe the data used for the analysis, the methodology, and the findings. The country contexts, designs of FAs, available data and research questions vary across Brazil and Colombia, and therefore the empirical findings are not comparable between these two countries. For each country case, the analysis provides insights on the benefits and costs of using FAs and useful lessons that can be informative for other countries that are considering adopting or strengthening the use of FAs with similar design. Chapter one gives introduction. Chapters two and three cover data analytics from Brazil and Colombia respectively. Additionally, following annexures are part of this report: annexure-A: a brief introduction to regression analysis; annexure-B: supporting data and information - Brazil; and annexure-C: supporting data and information - Colombia
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  • 149
    Language: English
    Pages: 1 Online-Ressource (39 pages)
    Parallel Title: Erscheint auch als Print Version: Erman, Alvina Leveling Up: Impacts of Performance-Based Grants on Municipal Revenue Collection in Mozambique
    Keywords: Decentralization ; Finance and Financial Sector Development ; Intergovernmental Transfers ; Local Government Revenue ; Municipal Finance ; Municipal Financial Management ; Property Taxation ; Public and Municipal Finance ; Public Sector Development ; Revenue Collection ; Urban Development ; Urban Economic Development
    Abstract: Due to recent decentralization reforms, municipalities now have important responsibilities in the sustainable urban development of Mozambique. This paper assesses the efficiency of World Bank funded municipal performance grants and technical assistance provided to municipalities, to enable municipalities to increase revenue collection. The municipal performance grants transferred resources to municipalities directed by performance-based indicators. The technical assistance program provided classroom and on-the-job training for municipal staff. The effect of a municipal performance grant on revenue collection is found to be positive and the effect is primarily lagged. Receiving a municipal performance grant in years t-1 and t-2 is associated with an increase in revenue collection in year t. Contemporary effects are negative but not significant. However, the positive impact of a lagged municipal performance grant on revenue collection is only significant after 2015, which coincides with implementation of technical assistance. And when municipal performance grants are combined with technical assistance, the contemporary effect of the transfer is also positive and significant. Overall, the impact of the municipal performance grants is larger for towns than cities. For every 10 meticais per capita received in municipal performance grants when combined with technical assistance, revenue collection increases by 10-11 meticais per capita in cities and 24 and 60 meticais per capita in towns. The findings of this study suggest that performance-based grants incentivize local governments with low capacity to collect more revenue. However, the transfers should be accompanied by a technical assistance program that can support capacity building in financial and fiscal management, as well as urban development and investment planning
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  • 150
    Language: English
    Pages: 1 Online-Ressource (66 pages)
    Parallel Title: Erscheint auch als Print Version: Gaduh, Arya Scores, Camera, Action: Social Accountability and Teacher Incentives in Remote Areas
    Keywords: Community-Based Monitoring ; Education ; Educational Institutions and Facilities ; Effective Schools and Teachers ; Performance Pay ; Public Sector Development ; Remote-Area Policy ; Social Accountability ; Social Development ; Teacher Incentives ; Teacher Performance
    Abstract: Remote schools in developing countries are costly to supervise, resulting in low teacher accountability and poor education outcomes. This paper reports the results of a randomized evaluation of three treatments that introduced teacher incentives based on community monitoring of teacher effort against locally agreed standards. The Social Accountability Mechanism (SAM) treatment facilitated a joint commitment between schools and community members to improve learning. Teacher performance was rated against it, discussed in monthly public meetings and passed on to authorities. The second and third treatments combined SAM with a performance pay mechanism that would penalize eligible teachers' remote area allowance for poor performance. In the SAM+Camera (SAM+Cam) treatment, the cut was based on absence as recorded by a tamper-proof camera; while in the SAM+Score treatment, it was based on the overall rating. After one year, the findings indicate improvements in learning outcomes across all treatments; however, the strongest impact of 0.20 standard deviation is observed for SAM+Cam. The evaluation also finds a small positive impact on the effort of affected teachers for SAM+Cam and SAM, and significant positive improvements on parental educational investments in all treatments. For SAM and SAM+Cam, additional data were collected in the second year (one year after project facilitators left). The findings show that SAM+Cam's impacts on learning outcomes and parental investments-but not teacher effort-persisted into the second year
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  • 151
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Public Expenditure Review
    Keywords: Agricultural Extension ; Agricultural Irrigation and Drainage ; Agricultural Sector Economics ; Agriculture ; Livestock and Animal Husbandry ; Public Sector Development
    Abstract: Public expenditures matte ...
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  • 152
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Policy Notes
    Keywords: Bildungsinvestition ; Kinder ; Soziale Sicherheit ; Bangladesch ; Public Sector Development ; Social Protections and Assistance ; Social Protections and Labor
    Abstract: Investing in children's human capital is one of the most critical investments a country can make to break the cycle of poverty and reap the demographic dividend. It can support the productivity and competitiveness of the future workforce and thus affect the growth trajectory of the country. Adequate stimulation and nutrition, especially during the first years of life, is critical for children's physical, cognitive, and socioemotional growth and development. And children who are left behind in their formative years are often unable to reach strong learning outcomes. To maximize the impact of social protection programs, it is critical to: (1) align the allocation of resources with national policies and strategies; (2) design programs that are able to reach their intended beneficiaries with adequate coverage and benefits; (3) ensure efficiency in programming and financing; and (4) ensure efficiency in actual program delivery at the local level. This policy note analyses all four points based on the findings of the recent social protection public expenditure review, but with a particular focus on mother and child programs. It highlights areas where challenges remain and proposes policy recommendations to address those
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  • 153
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Health Study
    Keywords: Health Economics and Finance ; Health Finance ; Health, Nutrition and Population ; Public Sector Development ; Strategic Planning
    Abstract: Development partners (DPs) contribute to a significant share of total health financing, especially in low-income countries, and support the achievement of universal health coverage (UHC). However, if DP support is not well aligned with government systems, it can lead to inefficiencies, such as poor prioritization, fragmentation, and duplication of activities, and inhibit the government's ability to maintain effective stewardship over sector activities. This note develops a comprehensive interpretation of the term 'country systems' in a public financial management (PFM) environment along with a checklist across the budget cycle that can be used to assess whether DPs in a given country are aligned to various PFM aspects. Undertaking an assessment is expected to have the following benefits: to provide a better understanding of the DP financial architecture and contribute to the literature of DP alignment and aid effectiveness; to articulate a clear baseline of DP financing modalities to allow for establishing a logical framework that will help articulate a reform program and strengthen mutual accountability. to foster learning across countries and DPs
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  • 154
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Public Sector Study
    Keywords: ICT Applications ; Information and Communication Technologies ; Public Sector Development ; Social Protections and Assistance ; Social Protections and Labor
    Abstract: This diagnostic has been conducted with the sole purpose of serving the ongoing development of social protection policy in the country. It is the Bank's hope that the report will be useful for social protection policy development as intended. The Bank has not agreed with the government to invest in the civil registration and identification sector. The government may consider the use of this report for the activities it will undertake to seek support from the international donor community for such an investment. The report is organized into the following sections: section one gives introduction. Section two examines the identity ecosystem in Central African Republic (CAR) and presents the stakeholders on the supply and demand sides, the identity schemes, the legal framework, and the specific post-crisis identity context; and section three presents the analysis conducted by the World Bank Group and details the main recommendations to build on so social protection actors can promote an efficient and reliable identity ecosystem that can serve the entire Central African population, starting from the most vulnerable
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  • 155
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Coronavirus ; COVID-19 ; Economic Growth ; Fiscal and Monetary Policy ; Fiscal Policy ; Macroeconomics and Economic Growth ; Monetary Policy ; Poverty ; Poverty Reduction ; Public Sector Development
    Abstract: The COVID-19 pandemic has significantly disrupted Chad's economic recovery, which started in 2018. GDP contracted by 0.9 percent in 2020. Agriculture and the oil sector remained the main drivers of growth, contributing 1.1 percentage points, while services contracted (contributing -2.0 percent). The impact of containment measures on domestic supply chains pushed up prices, and inflation rose from -1.0 percent in 2019 to 3.5 percent in 2020. Both the fiscal and current account balances deteriorated substantially, and difficulties in financing fiscal deficit may have led to further domestic arrears' buildup. Given the lack of fiscal space and large financing requirements, bold actions are needed. In this regard, the government could first strengthen economic diversification to enlarge the fiscal base, by removing bottlenecks to livestock exports, adopting business-friendly reform to support the private sector, and strengthening fiscal administration and policy for better revenue collection. Second, the government could improve its spending efficiency to deliver quality service under declining resources by enhancing the selection process, the planning and designing of investment projects, and improving public spending efficiency in health and education. Finally, the government should improve debt sustainability by strengthening its management and transparency
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  • 156
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Public Expenditure Review
    Keywords: Access of Poor To Social Services ; Poverty Reduction ; Public Sector Development ; Services and Transfers to Poor ; Social Protections and Assistance ; Social Protections and Labor
    Abstract: Bangladesh's economy is growing at a healthy pace and macro conditions are strong. Progress in social outcomes in Bangladesh is inspiring other countries, but deep challenges persist as the pace of poverty reduction slows down. Bangladesh labor market is dominated by low-productivity and informality. Urbanization also has important consequences for social protection spending and design. Bangladesh is ranked as the most vulnerable country in the world to climate related shocks. Social protection in Bangladesh has been evolving since the 1970s, through innovation and experimentation. The core issue in Bangladesh, more than the overall resources devoted to social protection, seems to be around how well these resources are deployed. This public expenditure review focuses on four aspects of quality of spending, which together point to elements that could be reformed to increase the overall impact of the resources devoted to this sector. The first key question is whether these important resources are allocated in a manner that focuses on the issues they are meant to address (discussed in Chapter 2). The second set of questions relate to whether the program themselves are designed to be impactful, that whether they are reaching the intended beneficiaries in a manner that's adequate or commensurate with their needs (discussed in Chapter 3). A third set of issues relate to whether the processes used to prioritize, budget and finance these programs are efficient (discussed in chapter 4). Finally, the last elements essential to the overall effectiveness of the social protection expenditure is the efficiency in the delivery of the programs to their beneficiaries, from the central to the local level (discussed in chapter 5)
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  • 157
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Public Expenditure Review
    Keywords: Infrastructure Economics and Finance ; Infrastructure Finance ; Public Sector Development ; Roads ; Roads and Highways ; Rural Development ; Rural Roads and Transport ; Transport
    Abstract: The report provides a detailed assessment of the road sector in Argentina, evaluating the expenditure of public resources in this context and informing possible improvements to the current situation. Given that the information available is limited, the report will mainly focus on the roads classified under the National Network, and will provide recommendations for the provincial and municipal roads when possible. The report starts with an introduction which serves to identify the context of the country and the main issues. This introduction describes the recent volatile financial periods in Argentina, with a macroeconomic context that has experimented several shocks in the recent decades and is currently impacted by the severe depreciation of the national currency and high inflation. This has led to higher transport costs, which are hampering potential growth, commercial exchanges and access to services. In addition, territorial inequalities in the country cause visible differences between regions, also in terms of the road network connectivity and logistics performance. Besides these factors, the road network is also affected by an increasingly more hazardous climate, as extreme natural episodes causing disruptions have been observed more frequently and intensely in Argentina in recent times. To face all these constraints, the Government of Argentina presented an ambitious National Plan over the period 2016-2019, with important public investments in road transport, but with a highly limited private participation due to the macroeconomic context and the lack of enabling policies
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  • 158
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other papers
    Keywords: Business Cycles and Stabilization Policies ; Coronavirus ; COVID-19 ; Disease Control and Prevention ; Emerging Markets ; Gender ; Health, Nutrition and Population ; Insurance ; Macroeconomics and Economic Growth ; Private Sector Development ; Private Sector Economics ; Trade
    Abstract: Coronavirus disease 2019 (COVID-19), which began as a health crisis in early 2020, has rapidly evolved to become an unprecedented economic crisis affecting global, national, and regional economies and billions of individuals around the world. This report analyzes the widespread implications of the crisis on industry sectors, businesses, individuals, families, and communities. It closely examines evidence and data from business sectors and segments of society that may face challenging paths to recovery, including the most vulnerable firms and individuals in emerging markets that are likely to experience continuing hardship and specific difficulties coping with the crisis. And it highlights opportunities for the private sector to respond, to support a vigorous recovery and to build back better. The first section of the report, chapters 1 to 5 addresses issues that cut across sectors, as well as ways the development community can join with the private sector to help impacted communities and sectors recover and rebuild. The second section, chapters 6 to 9 focus on sector-specific responses to the crisis. The final section, chapters 10 to 12 attends to gender inequities, how they have been aggravated by the crisis, and potentially effective remedies
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  • 159
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Health, Nutrition and Population (HNP) Discussion Papers
    Keywords: Health Care Services Industry ; Health Economics and Finance ; Health Service Management and Delivery ; Health Systems Development and Reform ; Health, Nutrition and Population ; Industry ; Public Sector Development
    Abstract: Performance-based financing (PBF) is the transfer of funds to health facilities so they can provide a pre-agreed set of services according to appropriate standards of quality and administration. These initiatives have introduced a wide set of reforms, including in provider autonomy, access to financial services, flexibility on the utilization of funds, a performance orientation on the budget allocation, and rigorous verification protocols. This tends to set PBF apart from the prevailing public financial management (PFM) systems that often remain input-based and thereby create a sustainability challenge. If the prevailing PFM system remains in parallel to the PBF, countries are likely to return to the legacy PFM system once PBF donor resources dry up. This paper unpacks this problem. It develops a conceptual framework about how to think about aligning PBF principles with PFM structures; offers a set of diagnostic questions for an assessment; and helps guide an analyst through the process of developing a reform roadmap, considering country context. The paper also proposes a reform roadmap to be centered around the following four facility financing pillars: (i) provider autonomy, (ii) financial management capacity, (iii) output-oriented budget provisions, and (iv) a unified payment system. As a discussion paper, this work aims to solicit feedback on the proposed approach from the PBF and PFM community
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  • 160
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Business Cycles and Stabilization Policies ; Coronavirus ; COVID-19 ; Disease Control and Prevention ; Economic Growth ; Energy ; Fiscal and Monetary Policy ; Gulf Cooperation Council ; Health, Nutrition and Population ; Macroeconomics and Economic Growth ; Oil and Gas ; Public Sector Development ; Public Sector Reform
    Abstract: The economic outlook for the Gulf Cooperation Council (GCC) economies appears far rosier now than it did even six months ago. Increased investment and consumption both public and private are contributing to growth while inflation remains subdued in most economies except for Saudi Arabia where it is currently at 5.5 percent and expected to fall sharply as the impact of last year's Value-Added Tax (VAT) hike falls away. Despite this rosy picture, the authorities should continue to follow the path of prudent macroeconomic management consolidating their fiscal balances, moving ahead with the introduction of VAT in Qatar and Kuwait and focusing on reducing the role of the state in economic management. UAE's government related entities especially those in the construction sector deserve a careful review to ensure that their borrowing remains sustainable and to adjust to the new conditions
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  • 161
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Public Expenditure Review
    Keywords: Coronavirus ; COVID-19 ; Disease Control and Prevention ; Health, Nutrition and Population ; Macroeconomics and Economic Growth ; Public Debt ; Public Investment ; Public Sector Development ; Taxation and Subsidies
    Abstract: This note analyzes the short-term effects of the COVID-19 (coronavirus) shock during the first year of the crisis and presents alternative medium-term recovery scenarios. It asks a set of questions, and in answering those questions, provides policy suggestions for the Vietnamese authorities'consideration. These questions are: (i) How were tax revenues affected by the shock, and how, in turn, did they affect the fiscal space available to the authorities What tax measures did the authorities implement to mitigate the shock and how successful were they What are the implications for any future tax policy and tax administration reforms (ii) How did the COVID-19 shock affect expenditures What fiscal measures did the authorities implement to mitigate the shocks, and how successful were they (iii) How did the shock affect fiscal balances and public debt (iv) What are the growth and fiscal prospects in the medium term
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  • 162
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Financial Accountability Study
    Keywords: Accountability ; Disclosure ; Public Sector Development ; Public-Private Partnerships ; Transparency
    Abstract: In the face of declining fiscal space and the need to build back better after the Coronavirus (COVID-19) pandemic, governments are turning to public-private partnerships (PPPs) to deliver infrastructure assets and services. Disclosure of information plays an important role in PPP programs. Several clients of the World Bank Group, including those with well-established PPP programs, currently do not disclose PPP information in a structured way throughout the project life cycle. Responding to these challenges, the World Bank developed a series of knowledge products to understand disclosure in PPPs, as well as to provide tools to governments for improving PPP disclosure. Post implementation of national PPP disclosure frameworks in the pilot countries, it became important to document the process, as well as assess the experience and perceptions related to the changed disclosure environment culminating in the disclosure of information via public-facing web portals. To support this task, a study was carried out over 2019-2020 to capture the enhanced disclosure environment, understand the perceptions of stakeholders vis-a-vis structured disclosure, identify what was working well, as well as indicate areas for improvement. This paper is a culmination of this effort to document the process and analyze the experience gained from the four-country pilot carried out in Ghana, Honduras, Kenya, and Nigeria. Section 1 of the paper provides the general background within which PPP disclosure is located, as well as the key elements of the World Bank's Framework for Disclosure in PPPs. Section 2 documents the process followed in developing and implementing customized national frameworks in the pilot countries
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  • 163
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Public Investment Review
    Keywords: Governance ; International Governmental Organizations ; Public Sector Development
    Abstract: At the 2019 Finance and Economic Ministers Meeting (FEMM), policy makers called for improved transparency of the Pacific trust funds' management practices and investment results as a way to foster its improved management going forward. FEMM tasked the World Bank to undertake the study. Whereas significant progress has been made in establishing international best practices for sovereign or large public funds or both, trust funds in the Pacific are unique in making direct application of those practices challenging. Furthermore, the comparative analysis of the management practices and relevant performance metrics of Pacific trust funds are still lacking. FEMM's objective for disclosing comparative analysis of Pacific funds investment results is to further stimulate collaborative discussion on how to continue to strengthen Pacific funds' management and to inform the design and implementation of relevant reforms. In response to the FEMM request, this note will address the current vacuum of comparable information about Pacific funds' investment management practices building on: (a) the World Bank engagements with the funds over the past five years; and (b) relevant information provided by those funds specifically for this analysis. This comparative study is meant to inform policy and decisionmakers governing the funds on the effect of their investment governance decisions on performance of the funds over the medium to long term
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  • 164
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Infrastructure Study
    Keywords: Education ; Information and Communication Technologies ; Information Technology ; Infrastructure Economics ; Infrastructure Economics and Finance ; Public Sector Development ; Public Sector Management and Reform
    Abstract: The world of tomorrow will be driven by digital transformation across sectors and industries, and the global coronavirus disease of 2019 (COVID-19) pandemic is accelerating this process. Digital technology is already playing an important role in the West Bank and Gaza (WB and G), and development of the digital economy is among the national priorities. This report aims to assess the state of digital economy development in WB and G, identify opportunities for further growth, and inform reforms and donor support programs in WB and G. The report provides a comprehensive overview of digital economy development in WB and G across the five foundational pillars - digital infrastructure, digital platforms, digital financial services, digital businesses, and digital skills. The report is based on several fact-finding missions, structured interviews, surveys, focus group discussions, and analysis of secondary data. The findings show that despite recent progress, the potential of the digital economy in WB and G is not fully exploited. Accelerating digital transformation and building a well-connected Palestinian economy will entail strengthening both analog and non-analog foundations. Three key areas that require the immediate attention of Palestinian policy makers are: (1) improving the digital infrastructure, (2) updating the legal and regulatory framework, and (3) ensuring institutional coordination and resource mobilization
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  • 165
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Public Sector Study
    Keywords: Corporate Governance and Corruption ; Corruption ; Ethics ; Private Sector Development ; Public Sector Development ; Transparency
    Abstract: This Survey on Ethics and Corruption in the Federal Public Service was held online from April 28 to May 28, 2021, in partnership with the Office of the Federal Comptroller General (CGU), the Ministry of the Economy, and the National School of Public Administration (ENAP). All civil servants were represented in the sample, totaling 22,130 respondents. The sample covered all federative units and ministries. Most civil servants report having witnessed some sort of unethical practice during their time in the public sector. Of all respondents, 58.7 percent stated that they witnessed some unethical practice during their career in public service. The most frequent practices were using one's position to help friends or family and bending the rules under pressure from one's superiors. Over the past three years, around one third of all civil servants (33.4 percent) witnessed some unethical practice, according to their reports. Corruption in the public service is multifaceted, thus requiring granular information about its nature, prevalence, and vulnerable actors. In view of its scope, thematic scope, and representativeness, the data generated by the study could become a valuable source for the development of knowledge about corruption in the federal public service. We hope that this Survey on Ethics and Corruption in the Federal Public Service becomes a tool to complement current and future efforts to fight corruption
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  • 166
    Language: English
    Pages: 1 Online-Ressource (36 pages)
    Parallel Title: Erscheint auch als Lara Ibarra, Gabriel Indirect Tax Incidence in Brazil: Assessing the Distributional Effects of Potential Tax Reforms
    Keywords: Distributional Impact ; Effective Tax Rate ; Fiscal Incidence ; Indirect Tax ; Inequality ; Macroeconomics and Economic Growth ; Public Sector Development ; Tax Burden ; Tax Reform ; Taxation ; Taxation and Subsidies ; Value Added Tax
    Abstract: Using recent expenditure survey data, this paper investigates the incidence of all indirect taxes in Brazil. It applies a novel approach to estimate the effective tax rate by computing the specific cumulative taxes levied on thousands of items available in the data set. The findings show that for every RD 100 of indirect tax revenue, the first and second deciles pay RD 2 and RD 3, respectively, while the ninth and tenth deciles pay RD 16 and RD 33, respectively. Meanwhile, indirect taxes represent between 23 and 45 percent of income among the poorest households. Simulations of a value-added tax reform suggest that it could be inequality reducing both horizontally and vertically. A flat value-added tax accompanied by excise taxes on fuel items, alcohol, and tobacco would also lead to lower decreases in expenditures. Households would spend 2.8 percent less on average, with those in the bottom (top) decile spending 7.0 percent (1.5 percent) less
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  • 167
    Language: English
    Pages: 1 Online-Ressource (66 pages)
    Parallel Title: Erscheint auch als Ashton, Louise A Puzzle with Missing Pieces: Explaining the Effectiveness of World Bank Development Projects
    Keywords: Development Aid Effectiveness ; Development Economics and Aid Effectiveness ; Development Project Success ; Economic Policy, Institutions and Governance ; Governance ; Institutional Setting ; International Governmental Organizations ; Macroeconomics and Economic Growth ; Project Design ; Project Effectiveness ; Project Implementation ; Public Sector Development ; World Bank Operations
    Abstract: The identification of key determinants of aid effectiveness is a long-standing question in the development community. This paper reviews the literature on aid effectiveness at the project level and then extends the inquiry in a variety of dimensions with new data on World Bank investment project financing. It confirms that the country institutional setting and quality of project supervision are associated with project success, as identified previously. However, many aspects of the development project cycle, especially project design, have been difficult to measure and therefore under-investigated. The paper finds that project design, as proxied by the estimated value added of design staff, the presence of prior analytic work, and other specially collected measures, is a significant predictor of ultimate project success. These factors generally grow in predictive importance as the income level of the country rises. The results also indicate that a key determinant of the staff's contribution is their experience with previous World Bank projects, but not other characteristics such as age, education, or country location. Key inputs to the project production process associated with subsequent performance are not captured in routine data systems, although it is feasible to do so. Further, the conceptualization and measurement of the success of project-based aid should be revisited by evaluative bodies to reflect a project's theorized contribution to development outcomes
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  • 168
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Public Sector Study
    Keywords: Public Sector Development
    Abstract: This report applies the new World Bank integrated State-Owned Enterprises Framework (iSOEF) methodology to assess The Gambia's SOE sector and its current reform trends. The report provides one of the first comprehensive applications of the World Bank's new iSOEF methodology in Africa by providing first a landscape of SOEs in The Gambia, and then addressing key aspects for assessing SOEs, namely: 'Effects on Markets'; 'Fiscal Impact'; and 'Corporate Governance and Accountability Mechanisms'. Leveraging the World Bank's expertise across its Equitable Growth, Finance, and Institutions (EFI) Vice Presidency, this multidimensional assessment looks at the interrelationships of the challenges and opportunities faced by the Gambia's SOEs to propose holistic and sequenced recommendations to strengthen their governance and performance. The primary audience of the iSOEF is the Government of The Gambia, in particular the Ministry of Finance and Economic Affairs (MOFEA) and other relevant stakeholders
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  • 169
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Private Sector Development, Privatization, and Industrial Policy
    Keywords: Accommodation and Tourism Industry ; Emerging Markets ; Equity and Development ; Industry ; Information and Communication Technologies ; Poverty Reduction ; Private Sector Development ; Transport
    Abstract: The Jordan Country Private Sector Diagnostic (CPSD) is a joint International Finance Corporation (IFC)-World Bank report that highlights the constraints as well as the opportunities facing the private sector in Jordan. It considers three sectors-tourism, logistics, and information and communication technology (ICT) - and the potential they offer for greater private sector contributions to the Jordanian economy, as well as the obstacles that they face from general or sector-specific policies and regulations. The CPSD also offers concrete recommendations to address some of these constraints. Although this report was largely prepared prior to the COVID-19 outbreak, its analysis and recommendations remain as, if not more, valid in the context of the pandemic and of an eventual recovery. A dynamic and resilient private sector is necessary if Jordan is to break the low-growth, high-unemployment trajectory it finds itself in today. The CPSD argues that tackling some of the major obstacles facing the private sector is essential to firm performance, investment, and productivity. These actions are as critical in times of crisis and especially afterwards to pave the way for a vigorous and sustainable recovery. Similarly, the sectors assessed by the CPSD continue to hold promise for the country. The pandemic has underscored the important role that digitalization, a strong ICT infrastructure, and supportive services have in creating a resilient economy and business continuity. E-commerce and logistics capabilities and services are an area put forward by the CPSD as an opportunity for Jordan in the coming years; they have boomed during the current crisis and are expected to be one of the post-pandemic growth sectors. Conversely, tourism, which had been experiencing a strong rebound in Jordan over the past few years, is one of the sectors hardest hit across the globe by the COVID-19 crisis. In Jordan the sector accounts for about 19.2 percent of gross domestic product and 32 percent of exports. Crafting a strategy that effectively addresses the many obstacles that prevent the tourism sector from attaining its potential is a necessary investment for a strong recovery - and a good use of what is likely to be a transitional period until travel re-commences
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  • 170
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Financial Sector Study
    Keywords: Economic Adjustment and Lending ; Finance and Financial Sector Development ; Fiscal Policy ; Law and Development ; Legal Reform ; Local Government ; Macroeconomics and Economic Growth ; Public and Municipal Finance ; Public Sector Development
    Abstract: The problems in Croatia's fiscal decentralization system have long been recognized. The fragmented territorial-administrative structure, fiscal decentralization efforts with insufficient fiscal autonomy, inconsistent public service standards, unbalanced sources of revenue, and doubts about the introduction of real estate taxes are just some of the concerns. However, there is often no consensus on the possible ways to address them. Compounding the problem is the fact that the recent and still ongoing tax reform, due to its tax relief element, has created the need to compensate subnational governments for the losses of revenues. The COVID-19 pandemic has increased the significance of these issues as the lockdown measures have had a strong negative impact on the existing revenue sources, such as personal income taxes (PITs), of many local and regional government units (LRGUs). At the same time, it may be that the current crisis has created the preconditions and opportunity needed for the government to finally implement reforms in support of fiscal decentralization and more effective financing of subnational governments, reforms that have long been postponed due to political reasons and a lack of popular support. These reforms include addressing the fragmentation of local governments, providing a clearer and more appropriate assignment of functional responsibilities, improving the fiscal equalization system by including the fiscal expenditure needs component, and introducing a working property tax. All of these ideas have long been debated, but there are many reasons to believe that the time is right for at least some of them to be implemented. This report provides a comprehensive overview of the major challenges and options for reform in several critical areas of Croatia's fiscal decentralization system, including: (i) the vertical structure of government, (ii) expenditure responsibilities, (iii) taxation and revenue autonomy, (iv) intergovernmental transfers, (v) borrowing and debt, and (vi) asset management
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  • 171
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Debt Management Performance Assessment
    Keywords: Debt Management ; External Debt ; Finance and Financial Sector Development ; Fiscal Policy ; Macroeconomic Management ; Macroeconomics and Economic Growth ; Monetary Policy ; Public Sector Development
    Abstract: The Debt Management Performance Assessment (DeMPA) is the World Bank's diagnostic tool for assessing performance using a comprehensive set of indicators that span the full range of government debt management (DM) functions. Launched in 2007, revised in 2015, the indicators have become an internationally recognized standard in the government DM field and can be applied in all developing countries. The DeMPA offers a sound diagnostic framework that allows a country's DM processes and institutions to be evaluated against sound international practice, identifying core strengths and weaknesses, and thereby helping strengthen capacity and institutions so that countries can manage their government debt effectively and sustainably. It will assist countries that want to undertake debt management reforms, helping to monitor progress with achieving government DM objectives consistent with international sound practice. The DeMPA is modeled on the Public Expenditure and Financial Accountability (PEFA) indicators, however, it uses a more comprehensive set of indicators, spanning the full range of government debt management (DM) functions, to provide a detailed assessment of government DM. The DeMPA methodology consists of two parts: i) a description of the methodology and ii) an evaluation tool that summarizes key questions that should be assessed in the context of a DeMPA evaluation
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  • 172
    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 ; Capital Markets and Capital Flows ; Emerging Markets ; Finance and Development ; Finance and Financial Sector Development ; Foreign Direct Investment ; Private Sector Development
    Abstract: The COVID-19 pandemic adds further challenges to the development of capital markets. For many emerging markets and developing economies challenges have intensified because of (i) the deterioration in the macroeconomic environment, including the contraction of the economies, and larger fiscal deficits, (ii) reduced investor appetite due to uncertainty, and (iii) the nature and scale of the interventions used by governments to support the economy which, while necessary, might have limited the viability of different capital markets solutions, at least in the short to medium term. That said, this does not alter the fundamental premise that it is important to develop alternative finance mechanisms for key strategic sectors. Rather, if anything, the need for capital markets solutions is more critical than ever given the much more limited space that governments, and potentially also banks, will have going forward to support new financing. This Primer will be followed by a series of practitioner papers. As part of its knowledge management agenda, the WBG is working towards deepening the understanding of the use of capital markets to finance strategic sectors, from corporate to infrastructure, housing, SME, and climate change financing. Along these lines, reports will be prepared, as appropriate, to help practitioners identify the key challenges that could prevent the mobilization of capital markets financing to these strategic sectors as well as key actions to address them
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  • 173
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Policy Notes
    Keywords: Labor Markets ; Public Sector Development ; Public Sector Management and Reform ; Public Sector Reform ; Social Protections and Labor ; Transparency
    Abstract: The weak performance of public institutions in Kosovo challenges efficient public service delivery and could impede faster growth. Effective public administration is a key factor for an economy that aims to generate jobs and improve citizens' well-being. The recently adopted Law on Salaries, Law on Public Officials, and Law on Organization and Functioning of State Administration and Independent Agencies provide a basis to improve public sector management and enable the country to ensure more effective and efficient service delivery to citizens and businesses. However, the Constitutional Court's recent decision to suspend the laws on salary and public officials indicates the complex task of ensuring equality in human resources and pay management. Equality and transparency in the legal framework for public administration are critical for public sector performance and productivity
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  • 174
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Financial Accountability Study
    Keywords: Emerging Markets ; Finance and Development ; Finance and Financial Sector Development ; Insurance and Risk Mitigation ; Life Insurance ; Macroeconomics and Economic Growth ; Private Sector Development ; Public Sector Development ; Taxation and Subsidies
    Abstract: Life insurance lags non-life insurance in many nascent markets. In order to develop the life insurance market, insurance companies sometimes present the introduction of tax incentives to stimulate consumers' willingness to commit to long term savings associated with life insurance. This paper examines whether insurance premiums' tax deductibility can affect life insurance penetration using regression analysis of a cross-country dataset. To complement the analysis, selected individual countries - Niger, Russia, Paraguay, and Lithuania were reviewed, looking at trends in life insurance penetration and gross domestic product (GDP) per capita in United States dollar (USD) before and after a policy change. The analysis did not conclusively demonstrate that life insurance premium fiscal relief was meaningfully correlated to life insurance penetration. On the other hand, GDP per capita is strongly correlated with life insurance penetration, which is consistent with findings of other studies. The country examples where a tax policy change was introduced in life insurance premium deductibility show mixed results. In Russia and Lithuania, premium deductions appear to have had some effect on life insurance penetration. In Niger and Paraguay, it was harder to see a meaningful impact. The impact of a premium deduction on consumers' buying behavior appears to be more complex and depends on the country context such as institutional quality and overall financial market capacity. Even if the tax deduction of insurance premiums has some positive effect, it appears that it is not a panacea but just one of a number of factors motivating consumers. If a country is considering introducing a policy which allows the tax deduction of insurance premiums, it is recommended to combine it with other interventions
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  • 175
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Water Papers
    Keywords: Hydrology ; Monitoring and Evaluation in Water Supply and Sanitation ; Public Sector Development ; Public Sector Management and Reform ; Small Private Water Supply Providers ; Town Water Supply and Sanitation ; Water Resource Management ; Water Resources ; Water Supply and Sanitation ; Water Treatment and Quality
    Abstract: This case study assessed ongoing initiatives to address surface water pollution issues in Mexico, working in partnership with the Comision Nacional del Agua (CONAGUA), the national agency responsible for the administration of water resources and its management. Particular focus was placed on a pilot case study application of remote sensing techniques to detection of water-quality issues in the Valle de Bravo reservoir. This assessment will contribute to a better understanding of options for water-quality remote sensing capabilities and needs. It will assist in identifying appropriate remote sensing tools and devising an application strategy to support decision making regarding the targeting and monitoring of nutrient pollution prevention and mitigation measures
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  • 176
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Public Expenditure Review
    Keywords: Accountability ; Health Economics and Finance ; Health Service Management and Delivery ; Health, Nutrition and Population ; Public Sector Development
    Abstract: Myanmar exhibits poor health outcomes and lags regional peers. Myanmar's Human Capital Index (HCI) score is 0.47, compared to a regional average of 0.60. Every year, 2,000 pregnant women and 50,000 children die from preventable causes, and 29 percent of children under age 5 are stunted. While there are many reasons for these poor outcomes, the effective coverage (access, utilization, and quality) of service delivery in the health sector plays a fundamental role. Budget execution remains prominent among PFM challenges in the health sector, demonstrated by several roadblocks to spending on time and on target. There is an urgent need to better understand the PFM bottlenecks that affect frontline service delivery. Budgeted expenditure for the Ministry of Health and Sports (MoHS) has been increasing, but actual spending has been declining. Budgeted expenditure increased for the MoHS from 0.86 percent of gross domestic product (GDP) in 2014-15 to 1.15 percent of GDP in 2017-18. However, actual expenditure by MoHS has declined from 1.0 percent to 0.8 percent of GDP in the same period. The increase in resources available through the budget allocation process had helped expand access and availability of health services to some extent, but it has not been able to address significantly the major health challenges and achieve better outcomes at population level. This is partly due to weaknesses at several points along the chain of financial management within MoHS and at the point of service delivery. The main objective of this report on PFM in the health sector is to improve service delivery and the efficiency of health financing at all levels of health care in Myanmar. This will be achieved by identifying and analyzing relevant PFM bottlenecks and providing recommendations to address them. Secondary objectives are to deepen the understanding of PFM arrangements in Myanmar's health sector, including the PFM reforms required under the health financing reforms for UHC, and strengthen the communication and coordination between MoHS and MOPFI to ensure sustainability of reforms going forward
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  • 177
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Public Expenditure Review
    Keywords: Access To Health Services ; Health Economics and Finance ; Health Systems Development and Reform ; Health, Nutrition and Population ; Public Sector Development
    Abstract: Malawi's economic growth has been low and volatile for the past two decades, leading to stagnating high poverty levels. The Coronavirus (COVID-19) pandemic will negatively affected economic growth leading to lower government revenue. Despite low per capita growth, Malawi has made strong progress in many areas of human capital development since 2000. Notwithstanding the above, Malawi still faces considerable gaps in human capital, which will impede its ability to reduce poverty in the medium term. Malawi lags behind in some health and nutrition outcomes, including HIV and malaria prevalence. Strengthening human capital in Malawi will be critical to reduce poverty, increase inclusion in society, and create jobs. The World Bank launched a new Human capital index (HCI) in October 2018 as part of its broader Human capital project. One factor that contributes to low human capital outcomes is Malawi's adolescent fertility rate, one of the highest rates of in the world, with 132 births per 1,000 women aged 15-19. The main underlying cause for the high adolescent fertility rate is the high rate of child marriage. The government is making efforts to strengthen human capital. To strengthen human capital in the face of limited fiscal space, Malawi needs to improve the efficiency and effectiveness of government and donor spending on human capital. To address this problem, there is need to integrate financial reporting systems at district and central government levels. This will enhance government's ability to monitor and evaluate expenditure and program implementation across sectors
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  • 178
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Policy Notes
    Keywords: Fiscal and Monetary Policy ; Fiscal Policy ; Macroeconomic Management ; Macroeconomics and Economic Growth ; Public Finance ; Public Sector Development ; Public Sector Management and Reform ; Public Sector Reform ; Taxation and Subsidies
    Abstract: Croatia has made significant economic progress since independence, but the global financial crisis has exposed weaknesses in its economy and growth model. While growth has resumed in 2015, income convergence has been thrown back by the crisis and by the prolonged recession that followed and is currently proceeding only slowly. Low growth potential, deriving from low productivity growth, an ageing society, emigration, and a pace of capital accumulation lower than before the crisis, needs to be boosted for sustainable and reasonably rapid income convergence with the EU28. To this end, the export sector merits particular attention. Integration in global value chains and exposure to international competition would help to strengthen firm-level productivity, investment, and wages. Croatia has the smallest goods export sector among its peers in Central and Eastern Europe (CEE), and while exports of services are strong thanks to a vibrant tourism industry, the potential for productivity improvements there is limited. Fiscal policy will need to remain tight, as high public debt, to a significant extent denominated in foreign currency, needs to be reduced and fiscal space rebuilt. However, there is scope for using expenditure policies, for instance better targeting of social assistance, to increase incentives for labor force participation, which would help counter adverse demographic trends, reduce the need for fiscal transfers and increase the scope for raising public investment, and reduce inequality and poverty. Lastly, the effectiveness and efficiency of public sector service delivery across almost the entire public sector will need to be raised. This will also serve to make Croatia a more attractive destination for investments, which in turn would help boost output, reduce unemployment, and provide more revenue
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  • 179
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Financial Accountability Study
    Keywords: Corporate Data and Reporting ; Disclosure ; Finance and Financial Sector Development ; Financial Regulation and Supervision ; Legal Framework ; Private Sector Development ; Public Sector Development ; Public-Private Partnerships ; Transparency
    Abstract: Based on research and analysis over the past few years, the World Bank Group Public-Private Partnerships (PPP) Cross-Cutting Solution Area has worked on creating a Framework for Disclosure in Public-Private Partnerships, which suggests a systematic structure for disclosing information proactively at different phases of the PPP process. Two documents, Jurisdictional Studies and Good Practice Cases, have been developed to provide relevant background and resources complementing the goals of the framework. The framework suggests the initiation of work with a PPP Disclosure Diagnostic in countries. The objective of the Diagnostic is to help PPP policy makers and practitioners to assess the status of PPP disclosure in the jurisdiction and identify customized PPP disclosure solutions for all PPP types to enable better disclosure. Under each of the areas identified, the Diagnostic provides the key questions policy makers and practitioners should ask, analysis and techniques for assessing gaps, resources for learning more, and tools for establishing customized PPP disclosure guidelines for the jurisdiction. The relevance of each of the above areas varies based on the unique circumstances within the country. This diagnostic report is structured around the key themes that are relevant to Kenya's disclosure environment
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  • 180
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    ISBN: 9781464810176
    Language: English
    Pages: Online-Ressource (1 online resource (272 p.))
    Edition: Online-Ausg.
    Series Statement: Global Economic Prospects
    Series Statement: World Bank E-Library Archive
    Parallel Title: Druckausg.
    Keywords: Developing Countries ; Developing Economies ; Economic Growth ; Economic Prospects ; Emerging Markets
    Abstract: Stagnant global trade, subdued investment, and heightened policy uncertainty marked another difficult year for the world economy. A moderate recovery is expected for 2017, with receding obstacles to activity in commodity-exporting emerging market and developing economies. Weak investment is weighing on medium-term prospects across many emerging market and developing economies. Although fiscal stimulus in major economies, if implemented, may boost global growth above expectations, risks to growth forecasts remain tilted to the downside. Important downside risks stem from heightened policy uncertainty in major economies. In addition to discussing global and regional economic developments and prospects, this edition of Global Economic Prospects includes a chapter on the causes, consequences and policy implications of weak investment in emerging markets and developing economies, and a special focus on the role of the U.S. economy in the world. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing countries, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by these economies, while the June edition contains shorter analytical pieces
    Note: Description based on print version record
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  • 181
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    ISBN: 9781464807787
    Language: English
    Pages: Online-Ressource (1 online resource (190 p.))
    Edition: Online-Ausg.
    Series Statement: Global Economic Prospects
    Series Statement: World Bank E-Library Archive
    Parallel Title: Druckausg.
    Keywords: Developing Countries ; Developing Economies ; Economic Growth ; Economic Prospects ; Emerging Markets ; Global Economy
    Abstract: Global growth prospects have deteriorated in 2016. Emerging market and developing economies are facing increased external headwinds, including softer growth in advanced economies. Commodity exporters are struggling with particularly challenging conditions, while commodity importers are thus far showing greater resilience. Global growth is expected to gradually accelerate in 2017-18 but risks to the outlook are increasingly more pronounced. In addition to discussing global and regional economic developments and prospects, this edition of Global Economic Prospects includes two Special Focus essays of critical importance for emerging and developing economies: an analysis of the buildup of private debt in emerging and frontier markets and a quantitative study of uncertainties surrounding global growth. This year marks the 25th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that has, since its inception in 1991, examined international economic developments and prospects, with a special focus on emerging market and developing economies. It has also included analytical essays on a wide range of topical macroeconomic, financial, and structural policy challenges faced by these economies. It is published on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges, while the June edition contains shorter analytical essays
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  • 182
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    ISBN: 9781464808678
    Language: Spanish
    Pages: Online-Ressource (1 online resource (60 p.))
    Edition: Online-Ausg.
    Series Statement: World Bank Annual Report
    Series Statement: World Bank E-Library Archive
    Parallel Title: Druckausg.
    Keywords: Banking Sector ; Capital Markets ; Emerging Markets ; Equity Investments ; Health Services
    Abstract: En el Informe anual 2016, que abarca el periodo comprendido entre el 1 de julio de 2015 y el 30 de junio de 2016, se describe como el Banco Mundial se asocia con los paises con el objeto de poner fin a la pobreza extrema para 2030, promover la prosperidad compartida y respaldar el programa mundial de desarrollo sostenible. Este informe anual, que abarca el periodo comprendido entre el 1 de julio de 2015 y el 30 de junio de 2016, ha sido preparado por los directores ejecutivos del Banco Internacional de Reconstruccion y Fomento (BIRF) y la Asociacion Internacional de Fomento (AIF) -denominados colectivamente "Banco Mundial", segun lo dispuesto en los reglamentos de ambas organizaciones. El Dr. Jim Yong Kim, presidente del Grupo Banco Mundial (GBM) y de los Directorios Ejecutivos y las Juntas de Directores de las instituciones que lo integran, ha presentado este informe, junto con los presupuestos administrativos y los estados financieros auditados, a la Junta de Gobernadores
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  • 183
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    ISBN: 9781464808630
    Language: French
    Pages: Online-Ressource (1 online resource (60 p.))
    Edition: Online-Ausg.
    Series Statement: World Bank Annual Report
    Series Statement: World Bank E-Library Archive
    Parallel Title: Druckausg.
    Keywords: Natural Resources ; Transition Economies ; Banking Sector ; Capital Markets ; Emerging Markets
    Abstract: Le Rapport annuel 2016, qui couvre la periode allant du 1er juillet 2015 au 30 juin 2016, passe en revue la maniere dont la Banque mondiale travaille en partenariat avec les pays pour mettre fin a l'extreme pauvrete d'ici 2030, promouvoir une prosperite partagee et soutenir le programme mondial de developpement durable. Le present rapport couvre la periode allant du 1er juillet 2015 au 30 juin 2016. Il a ete etabli par les Administrateurs de la Banque internationale pour la reconstruction et le developpement (BIRD) et de l'Association internationale de developpement (IDA) -qui, reunies, prennent le nom de Banque mondiale- conformement aux reglements respectifs de ces deux institutions. M. Jim Yong Kim, President du Groupe de la Banque mondiale et President du Conseil des Administrateurs, a soumis ce rapport, ainsi que les budgets administratifs et les etats fi nanciers verifi es, au Conseil des Gouverneurs
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  • 184
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Public Sector Study
    Keywords: Equity ; Fiscal Policy ; Inequality ; Law and Development ; Macroeconomics and Economic Growth ; Poverty Reduction ; Public Sector Development ; Tax Evasion ; Tax Law ; Tax Reform ; Taxation and Subsidies
    Abstract: This report takes an in-depth look, from a policy perspective, at the trade-offs between increasing tax collection and improving the equity of the fiscal system. As part of this effort, the report places the Peruvian tax system in an international context and considers the key challenges the government is facing in its drive to increase revenue. It also conducts qualitative and quantitative analyses of the impact of taxes and transfers on inequality and on the distribution of income. The report then makes several policy proposals that would increase tax collection without jeopardizing equity, and it then simulates the impacts of these changes on collection and equity. This advice spanned the 2012-2014 period, and included research on several tax policy-related issues, such as legal advice on double-taxation treaties and in-depth analyses of tax exemptions. To keep the focus tight, some of the work is not included in this report. Contributions were originally written in Spanish to provide the Ministry of Economy and Finance (MEF) with timely advice on the subject and were discussed with the counterparts during and immediately after its preparation. As a result of prioritizing this process, two teams focused on different areas of research and were able to contribute to the analytical base behind the ongoing tax reform. The report summarizes the main elements of this process and resulting advice. It comes out at the same time as the finance ministry announces the first set of tax reforms that were informed by this work
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  • 185
    ISBN: 9781464805370
    Language: English
    Pages: Online-Ressource
    Series Statement: World Bank Studies
    Series Statement: World Bank E-Library Archive
    Parallel Title: Erscheint auch als
    DDC: 368.4/20095492
    Keywords: Gesundheitsversorgung ; Gesundheitspolitik ; Bangladesch ; Governance ; Health, Nutrition, and Population ; Public Sector Development ; Economic modeling ; Health finance ; Health policy ; Health workforce ; Human resources ; Labor scarcity ; Universal Health Coverage ; Worker retention
    Abstract: Bangladesh is committed to achieving universal health coverage (UHC) by 2032; to this end, the government of Bangladesh is exploring policy options to increase fiscal space for health and expand coverage while improving service quality and availability. Despite Bangladesh's impressive strides in improving its economic and social development outcomes, the government still confronts health financing and service delivery challenges. In its review of the health system, this study highlights the limited fiscal space for implementing UHC in Bangladesh, particularly given low public spending for health and high out-of-pocket expenditure. The crisis in the country's human resources for health (HRH) compounds public health service delivery inefficiencies. As the government explores options to finance its UHC plan, it must recognize that reform of its service delivery system with particular focus on HRH has to be the centerpiece of any policy initiative
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  • 186
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    ISBN: 9781464805820
    Language: English
    Pages: Online-Ressource (1 online resource (60 p.))
    Edition: Online-Ausg.
    Series Statement: World Bank Annual Report
    Series Statement: World Bank E-Library Archive
    Parallel Title: Druckausg.
    Keywords: Banking Sector ; Capital Markets ; Emerging Markets ; Equity Investments ; Health Services ; Inflation ; Interest Rates ; Microfinance ; Natural Resources ; Transition Economies
    Abstract: The Annual Report is prepared by the Executive Directors of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA)--collectively known as the World Bank--in accordance with the by-laws of the two institutions. The President of the IBRD and IDA and the Chairman of the Board of Executive Directors submits the Report, together with the accompanying administrative budgets and audited financial statements, to the Board of Governors
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  • 187
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: Spanish
    Pages: Online-Ressource (1 online resource (60 p.))
    Edition: Online-Ausg.
    Series Statement: World Bank Annual Report
    Series Statement: World Bank E-Library Archive
    Parallel Title: Druckausg.
    Keywords: Banking Sector ; Capital Markets ; Emerging Markets ; Equity Investments ; Health Services
    Abstract: El Grupo del Banco Mundial ha establecido objetivos ambiciosos pero alcanzables en torno a los cuales centrara la labor que desarrolla para superar estos desafios historicos. Especificamente, la institucion procurara poner fin a la pobreza extrema en todo el mundo para 2030 y promover la prosperidad compartida en los paises en desarrollo, lo que supondra fomentar el aumento de los ingresos del 40% mas pobre de la poblacion. Se procurara lograr estos objetivos de un modo sostenible en lo ambiental, social y economico, de modo de garantizar que los avances en el desarrollo no afecten el bienestar de las generaciones actuales y futuras. El presente informe anual se centra en las operaciones del Banco Internacional de Reconstruccion y Fomento (BIRF) y la Asociacion Internacional de Fomento (AIF), denominados colectivamente Banco Mundial. Lo invitamos a leer este informe para conocer mas sobre la labor del Banco Mundial, las actividades que desarrolla y los resultados que obtiene en las seis regiones donde trabaja, asi como sus logros en la superacion de la pobreza y la creacion de oportunidades para los habitantes de los paises en desarrollo. The Annual Report is prepared by the Executive Directors of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA)-collectively known as the World Bank-in accordance with the by-laws of the two institutions. The President of the IBRD and IDA and the Chairman of the Board of Executive Directors submits the Report, together with the accompanying administrative budgets and audited financial statements, to the Board of Governors
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  • 188
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    ISBN: 9781464804830 , 9781464804854
    Language: English
    Pages: Online-Ressource (1 online resource (194 p.))
    Edition: Online-Ausg.
    Series Statement: Global Economic Prospects
    Series Statement: World Bank E-Library Archive
    Parallel Title: Druckausg.
    Keywords: Capital Flows ; Commodities ; Developing Countries ; Emerging Markets ; Financial Markets ; Global Economy ; Interest Rates ; Low Income Countries ; Oil Prices ; Poverty ; Trade ; US Economy
    Abstract: Global growth is expected to be 2.8 percent in 2015, but is expected to pick up to 3.2 percent in 2016-17. Growth in developing countries and some high-income countries is set to disappoint again this year. The prospect of rising borrowing costs will compound the challenges many developing countries are facing as they adapt to an era of low commodity prices. Risks to this outlook remain tilted to the downside. This edition of Global Economic Prospects includes two Special Features that analyze the policy challenges raised by the two transitions in developing countries: the risks associated with the first U.S. central bank interest rate increase since 2006 and the implications of persistently low commodity prices for low-income countries. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on developing countries, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by developing countries while the June edition contains shorter analytical pieces
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  • 189
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: French
    Pages: Online-Ressource (1 online resource (60 p.))
    Edition: Online-Ausg.
    Series Statement: World Bank Annual Report
    Series Statement: World Bank E-Library Archive
    Parallel Title: Druckausg.
    Keywords: Banking Sector ; Capital Markets ; Emerging Markets ; Equity Investments ; Health Services ; Inflation ; Interest Rates ; Microfinance ; Natural Resources ; Transition Economies ; French Translation
    Abstract: Le Groupe de la Banque mondiale s'est fixe des objectifs ambitieux mais realisables sur lesquels asseoir le travail qu'il entreprend pour relever ces defis historiques. Plus precisement, l'institution fera son possible pour mettre fin a l'extreme pauvrete a l'echelle mondiale d'ici 2030 et promouvoir une prosperite partagee dans les pays en developpement, ce qui supposera favoriser la croissance des revenus pour les 40 % les plus pauvres de la population. L'institution cherchera a atteindre ces objectifs de facon viable sur le plan environnemental, social et economique afin de s'assurer que les acquis du developpement ne compromettent pas le bien-etre des generations actuelles et futures. Le present Rapport annuel couvre les activites de la Banque internationale pour la reconstruction et le developpement (BIRD) et de l'Association international de developpement (IDA) qui, reunies, prennent le nom de Banque mondiale. Nous vous exhortons a le lire pour en apprendre davantage sur le travail accompli par la Banque mondiale - les activites et les realisations qu'elle aide a promouvoir dans les six regions geographiques ou elle mene ses operations, ainsi que les resultats du travail consistant a aider a vaincre la pauvrete et creer des opportunites pour les populations des pays en developpement. The Annual Report is prepared by the Executive Directors of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA)-collectively known as the World Bank-in accordance with the by-laws of the two institutions. The President of the IBRD and IDA and the Chairman of the Board of Executive Directors submits the Report, together with the accompanying administrative budgets and audited financial statements, to the Board of Governors
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  • 190
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Country Economic Memorandum
    Keywords: Energy ; Investment Climate ; Macroeconomics and Economic Growth ; Oil and Gas ; Public Investment ; Public Sector Development ; Social Protections and Assistance ; Social Protections and Labor
    Abstract: This report - the first phase of a programmatic Iraq country economic memorandum (CEM) is structured around the themes of revenue management and economic diversification. These themes accord with the economic challenges faced by Iraq in the medium term but contrast with the short-termism of current Iraqi decision making, which is pushing for a rapid ramp-up of oil production - reducing diversification to finance a large up-front spending program which is detached from a vision of how to diversify the economy. Iraq's oil revenue boom will not be able to meet the expectations placed upon it without a range of supporting policies. Iraq should aim towards adapting its economy to strong weight of oil, as opposed to complete insulation of the non-oil economy from it or dependence on it. To address the myriad links between Iraq's economic challenges, the report takes a sequential approach to the analysis. Chapter one presents an overview of the fiscal aspects of prospective developments in the energy sector, and an outline of major obstacles to growth in the non-oil economy. Chapter two, a relatively high-level and abstract economic model is developed to study the impact of various options for spending the oil revenue windfall on the non-oil economy. Chapter three, the opportunities for the development of the non-oil economy are set out in more detail along with recommended next steps in the World Bank support to the government of Iraq
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  • 191
    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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  • 192
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (40 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Maur, Jean-Christophe Regionalism And Trade Facilitation
    Keywords: Border Crossing ; Economies Of Scale ; Electronic Customs ; Externalities ; Free Trade ; Inspection ; International Economics & Trade ; Law and Development ; Public Sector Development ; Rail ; Road ; Trade Law ; Trade Policy ; Trade and Regional Integration ; Transit ; Transport ; Transport ; Transport Economics, Policy and Planning ; Trucks ; Border Crossing ; Economies Of Scale ; Electronic Customs ; Externalities ; Free Trade ; Inspection ; International Economics & Trade ; Law and Development ; Public Sector Development ; Rail ; Road ; Trade Law ; Trade Policy ; Trade and Regional Integration ; Transit ; Transport ; Transport ; Transport Economics, Policy and Planning ; Trucks ; Border Crossing ; Economies Of Scale ; Electronic Customs ; Externalities ; Free Trade ; Inspection ; International Economics & Trade ; Law and Development ; Public Sector Development ; Rail ; Road ; Trade Law ; Trade Policy ; Trade and Regional Integration ; Transit ; Transport ; Transport ; Transport Economics, Policy and Planning ; Trucks
    Abstract: This paper investigates when trade facilitation reform should be undertaken at the regional level. First, looking at both efficiency and implementation considerations, it confirms the perception that the regional dimension matters. Investigating where efficiency gains can be made, this research explains why national markets alone fail to produce the full scale economies and positive externalities of trade facilitation reform. Second, because trade facilitation policies need to address coordination and capacity failures, and because of the operational complexity challenge, the choice of the adequate platform for delivering reform is crucial. The lessons are that regional trade agreements offer good prospects of comprehensive and effective reform and can effectively complement multilateral and national initiatives. However, examples of implementation of trade facilitation reform in regional agreements do not seem to indicate that regional integration approaches have been more successful than trade facilitation through specific cooperation agreements or other efforts, multilateral or unilateral. Customs unions may be an exception here, and the author suggests reasons why this could be the case
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  • 193
    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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  • 194
    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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  • 195
    Language: English
    Pages: Online-Ressource (1 online resource (68 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Vittas, Dimitri Upgrading The Investment Policy Framework of Public Pension Funds
    Keywords: Alternative asset ; Asset classes ; Debt Markets ; Emerging Markets ; Finance and Financial Sector Development ; Financial Systems ; International Bank ; Investment Policy ; Investment and Investment Climate ; Investment strategies ; Macroeconomics and Economic Growth ; Pension ; Pension Funds ; Private Sector Development ; Reserves ; Transparency ; Alternative asset ; Asset classes ; Debt Markets ; Emerging Markets ; Finance and Financial Sector Development ; Financial Systems ; International Bank ; Investment Policy ; Investment and Investment Climate ; Investment strategies ; Macroeconomics and Economic Growth ; Pension ; Pension Funds ; Private Sector Development ; Reserves ; Transparency ; Alternative asset ; Asset classes ; Debt Markets ; Emerging Markets ; Finance and Financial Sector Development ; Financial Systems ; International Bank ; Investment Policy ; Investment and Investment Climate ; Investment strategies ; Macroeconomics and Economic Growth ; Pension ; Pension Funds ; Private Sector Development ; Reserves ; Transparency
    Abstract: Public pension funds have the potential to benefit from low operating costs because they enjoy economies of scale and avoid large marketing costs. But this important advantage has in most countries been dissipated by poor investment performance. The latter has been attributed to a weak governance structure, lack of independence from government interference, and a low level of transparency and public accountability. Recent years have witnessed the creation of new public pension funds in several countries, and the modernization of existing ones in others, with special emphasis placed on upgrading their investment policy framework and strengthening their governance structure. This paper focuses on the experience of four new public pension funds that have been created in Norway, Canada, Ireland and New Zealand. The paper discusses the safeguards that have been introduced to ensure their independence and their insulation from political pressures. It also reviews their performance and their evolving investment strategies. All four funds started with the romantic idea of operating as 'managers of managers' and focusing on external passive management but their strategies have progressively evolved to embrace internal active management and significant investments in alternative asset classes. The paper draws lessons for other countries that wish to modernize their public pension funds
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  • 196
    Language: English
    Pages: Online-Ressource (1 online resource (54 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Bruhn, Miriam License To Sell
    Keywords: Business Environment ; Business Registration ; Business entry ; Business in Development ; Business regulation ; Businesses ; Competitiveness and Competition Policy ; E-Business ; Economic development ; Labor Policies ; License ; Private Sector ; Private Sector Development ; Public Sector Development ; Results ; Social Protections and Labor ; Uses ; Web ; Business Environment ; Business Registration ; Business entry ; Business in Development ; Business regulation ; Businesses ; Competitiveness and Competition Policy ; E-Business ; Economic development ; Labor Policies ; License ; Private Sector ; Private Sector Development ; Public Sector Development ; Results ; Social Protections and Labor ; Uses ; Web ; Business Environment ; Business Registration ; Business entry ; Business in Development ; Business regulation ; Businesses ; Competitiveness and Competition Policy ; E-Business ; Economic development ; Labor Policies ; License ; Private Sector ; Private Sector Development ; Public Sector Development ; Results ; Social Protections and Labor ; Uses ; Web
    Abstract: This paper studies the effect of business registration regulation on economic activity using micro-level data. The identification strategy exploits the fact that a recent business registration reform in Mexico was introduced in different municipalities at different points in time. Using panel data from the Mexican employment survey, I find that the reform increased the number of registered businesses by 5 percent in eligible industries. This increase was due to former wage earners opening businesses. Former unregistered business owners were not more likely to register their business after the reform. Moreover, employment in eligible industries went up by 2.8 percent, and people who were previously unemployed or out of the labor force were more likely to work as wage earners after the reform. Finally, the results imply that the competition from new entrants lowered prices by 0.6 percent and decreased the income of incumbent businesses by 3.2 percent
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  • 197
    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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  • 198
    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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  • 199
    Language: English
    Pages: Online-Ressource (1 online resource (43 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Shepherd, Ben Trade Facilitation In ASEAN Member Countries
    Keywords: Air ; Air transport ; Common Carriers Industry ; Driving ; Economic Theory and Research ; Free Trade ; Freight ; Industry ; International Economics & Trade ; Macroeconomics and Economic Growth ; Port facilities ; Public Sector Development ; Road ; Road infrastructure ; Trade Policy ; Transparency ; Transport ; Transport ; Transport Economics, Policy and Planning ; Transport infrastructure ; Air ; Air transport ; Common Carriers Industry ; Driving ; Economic Theory and Research ; Free Trade ; Freight ; Industry ; International Economics & Trade ; Macroeconomics and Economic Growth ; Port facilities ; Public Sector Development ; Road ; Road infrastructure ; Trade Policy ; Transparency ; Transport ; Transport ; Transport Economics, Policy and Planning ; Transport infrastructure ; Air ; Air transport ; Common Carriers Industry ; Driving ; Economic Theory and Research ; Free Trade ; Freight ; Industry ; International Economics & Trade ; Macroeconomics and Economic Growth ; Port facilities ; Public Sector Development ; Road ; Road infrastructure ; Trade Policy ; Transparency ; Transport ; Transport ; Transport Economics, Policy and Planning ; Transport infrastructure
    Abstract: This paper reviews recent progress and indicators of trade facilitation in member countries of the Association of Southeast Asian Nations. The findings show that import and export costs vary considerably in the member countries, from very low to moderately high levels. Tariff and non-tariff barriers are generally low to moderate. Infrastructure quality and services sector competitiveness range from fair to excellent. Using a standard gravity model, the authors find that trade flows in Southeast Asia are particularly sensitive to transport infrastructure and information and communications technology. The results suggest that the region stands to make significant economic gains from trade facilitation reform. These gains could be considerably larger than those from comparable tariff reforms. Estimates suggest that improving port facilities in the region, for example, could expand trade by up to 7.5 percent or
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  • 200
    Language: English
    Pages: Online-Ressource (1 online resource (29 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Brenton, Paul Economic Partnership Agreements And The Export Competitiveness of Africa
    Keywords: Competitiveness ; Development assistance ; Development strategies ; Economic Theory & Research ; Emerging Markets ; Export growth ; Free Trade ; International Economics & Trade ; International trade ; Law and Development ; Private Sector Development ; Productivity ; Public Sector Development ; Tariff barriers ; Trade Law ; Trade Policy ; Trade competitiveness ; Trade diversion ; Trade policy ; Competitiveness ; Development assistance ; Development strategies ; Economic Theory & Research ; Emerging Markets ; Export growth ; Free Trade ; International Economics & Trade ; International trade ; Law and Development ; Private Sector Development ; Productivity ; Public Sector Development ; Tariff barriers ; Trade Law ; Trade Policy ; Trade competitiveness ; Trade diversion ; Trade policy ; Competitiveness ; Development assistance ; Development strategies ; Economic Theory & Research ; Emerging Markets ; Export growth ; Free Trade ; International Economics & Trade ; International trade ; Law and Development ; Private Sector Development ; Productivity ; Public Sector Development ; Tariff barriers ; Trade Law ; Trade Policy ; Trade competitiveness ; Trade diversion ; Trade policy
    Abstract: Trade can be a key driver of growth for African countries, as it has been for those countries, particularly in East Asia, that have experienced high and sustained rates of growth. Economic partnership agreements with the European Union could be instrumental in a competitiveness framework, but to do so they would have to be designed carefully in a way that supports integration into the global economy and is consistent with national development strategies. Interim agreements have focused on reciprocal tariff removal and less restrictive rules of origin. To be fully effective, economic partnership agreements will have to address constraints to regional integration, including both tariff and non-tariff barriers; improve trade facilitation; and define appropriate most favored nation services liberalization. At the same time, African countries will need to reduce external tariff peak barriers on a most favored nation basis to ensure that when preferences for the European Union are implemented after transitional periods, they do not lead to substantial losses from trade diversion. This entails an ambitious agenda of policy reform that must be backed up by development assistance in the form of "aid for trade
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