Página 1 dos resultados de 13290 itens digitais encontrados em 0.017 segundos

Uganda - Agriculture Public Expenditure Review

World Bank
Fonte: World Bank Publicador: World Bank
Relevância na Pesquisa
56.36%
This Agriculture Public Expenditure Review (AgPER) comprehensively reviews public expenditures on agriculture in Uganda and analyzes their efficiency and effectiveness. Its genesis lies in Agriculture Sector Working Group (A-SWG) discussions, especially during the budget process, which raised concerns about the seemingly low budget allocations to the sector and the failure to align limited resources with recognized priorities in the sector. To address these concerns, the A-SWG resolved to undertake this AgPER. Aside from providing a better understanding of the nature and composition of agricultural pubic expenditures in Uganda, the review will specifically analyze their efficiency and effectiveness with a view to identifying the types of expenditures that will promote pro-poor growth. The report is structured as follows. Section two analyzes trends in nominal and real sector budgets. It highlights the current and projected importance of agricultural sector expenditure in the national budget and gross domestic product (GDP). An analysis of agricultural price distortions indicates the extent to which the sector benefits from supportive policies. Section three describes budget planning and implementation at the national and local level and presents policy recommendations to improve those processes. Section four focuses on the technical efficiency of public spending. By tracking resource flows and analyzing the unit costs of goods and service delivery. Section four sheds light on whether public resources are used efficiently and which actions could improve efficiency. The concluding section summarizes the major findings and policy recommendations.

Poverty and Social Impact Analysis (PSIA) : Reviewing the Link with In-Country Policy and Planning Processes - Synthesis Report

World Bank
Fonte: World Bank Publicador: World Bank
Relevância na Pesquisa
56.43%
The synthesis report concerns to go beyond a summary of the country studies to provide lessons and recommendations on how to further improve Poverty and Social Impact Analysis (PSIA) effectiveness. To do so, it draws on findings from country case studies, the literature and recent internal Bank reviews (World Bank 2006, 2008) on PSIA. The synthesis is structured in three parts. Section two reviews the role of PSIA in country work drawing on internal guidance from the Bank and the wider literature. It introduces the PSIA framework and the main elements of an effective PSIA. Section two ends with a presentation of the review framework and the approach to sampling and methodology for the country studies. Section three presents the bulk of the review findings and lessons learned with a focus on lessons for embedding PSIA into country processes. Section four addresses the future of PSIA with recommendations aimed at: (i) improving the influence that PSIA has on policy and planning processes in-country, and (ii) ensuring that it is applied more routinely by partner governments and Bank programs.

Crossing the Threshold : An Analysis of IBRD Graduation Policy

Heckelman, Jac C.; Knack, Stephen; Rogers, F. Halsey
Fonte: Banco Mundial Publicador: Banco Mundial
Relevância na Pesquisa
56.43%
According to World Bank policy, countries remain eligible to borrow from the International Bank for Reconstruction and Development until they are able to sustain long-term development without further recourse to Bank financing. Graduation from the Bank is not an automatic consequence of reaching a particular income level, but rather is supposed to be based on a determination of whether the country has reached a level of institutional development and capital-market access that enables it to sustain its own development process without recourse to Bank funding. This paper assesses how International Bank for Reconstruction and Development graduation policy operates in practice, investigating what income and non-income factors appear to have influenced graduation decisions in recent decades, based on panel data for 1982 through 2008. Explanatory variables include the per-capita income of the country, as well as measures of institutional development and market access that are cited as criteria by the graduation policy, and other plausible explanatory variables that capture the levels of economic development and vulnerability of the country. The authors find that the observed correlates of Bank graduation are generally consistent with the stated policy. Countries that are wealthier...

Lessons from World Bank Research on Financial Crises

World Bank
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
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66.4%
The benefits of financial development and globalization have come with continuing fragility in financial sectors. Periodic crises have had real but heterogeneous welfare impacts and not just for poor people; indeed, some of the conditions that foster deep and persistent poverty, such as lack of connectivity to markets, have provided a degree of protection for the poor. Past crises have also had longer-term impacts for some of those affected, most notably through the nutrition and schooling of children in poor families. As in other areas of policy, effective responses to a crisis require sound data and must take account of incentives and behavior. An important lesson from past experience is that the short-term responses to a crisis-macroeconomic stabilization, trade policies, financial sector policies and social protection-cannot ignore longer-term implications for both economic development and vulnerability to future crises.

Somalia Joint Needs Assessment : Macroeconomic Policy Framework and Data Development Cluster Report

World Bank; United Nations
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
56.37%
Since 1991, the Somali economy has suffered from droughts, the absence of government, and local conflicts. Unlike the 1970s and 1980s when most of the output of the small industrial sector and many services were provided by the public sector, there has been significant (but unmeasured) private investment in commercial ventures, including in trade and marketing; money transfer services; transport; communications; airlines; telecommunications; other services including construction and hotels; education and health; and fishery equipment. In regard to the macroeconomic policy framework, the short to medium-term objectives are to: establish and maintain macroeconomic stability; develop a stable currency and a sound and growing public revenues base; establish core civil service institutions along with accountable budgetary processes, public finance management, and revenue systems; and reestablish financial services. In addition, it is important to establish data systems to secure the data needed to monitor social and economic developments and to inform sound policy and institutional development.

Financial Inclusion for Financial Stability : Access to Bank Deposits and the Growth of Deposits in the Global Financial Crisis

Han, Rui; Melecky, Martin
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
56.44%
In crisis times, depositors get anxious, can run on banks, and withdraw their deposits. Correlated withdrawals of bank deposits could be mitigated if bank deposits are more diversified, that is, held by more individuals. This paper examines the link between the broader access to bank deposits prior to the 2008 crisis and the dynamics of bank deposit growth during the crisis, while controlling for relevant covariates. Employing proxies for access to deposits and the use of bank deposits, the authors find that greater access to bank deposits can make the deposit funding base of banks more resilient in times of financial stress. Policy efforts to enhance financial stability should thus not only focus on macroprudential regulation, but also recognize the positive effect of broader access to bank deposits on financial stability.

Inventory of Policy Responses to the Financial and Economic Crisis

International Labour Organisation; World Bank
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
56.38%
This report presents an overview of general findings from International Labor Office (ILO) and World Bank (WB) database. The report only uses a fraction of this large and rich database and is an invitation for researchers and practitioners to use the data for more in-depth research, which can be helpful for policy makers in identifying effective approaches to maintain and promote employment, while protecting living standards during times of crisis. The goal of this report is to take stock of policy responses during the recent economic and financial crisis and suggest areas where policy-makers should focus to improve their capacity to respond to future shocks. The report has following sections: section one gives introduction. Section two begins with an overview of macroeconomic and sector policies. Section three presents analysis of labor market policies to promote labor demand. Section four presents programs to facilitate job matching and preserve skills. Section five is social protection. Section six is minimum wages. Section seven is social dialogue. Section 8 is international labor standards. The last section summarizes key findings and proposes an agenda for future work.

A tale of five bubbles - asset price inflation and central bank policy in historical perspective

Voth, Hans-Joachim
Fonte: Universidade Nacional da Austrália Publicador: Universidade Nacional da Austrália
Tipo: Working/Technical Paper Formato: 278884 bytes; application/pdf
EN_AU
Relevância na Pesquisa
66.25%
This paper examines five bubbles that eventually popped, and discusses the feasibility of central bank policy. In all cases, we find that monetary policy was too loose during the period when the bubble was developing, and that a determined switch from an accommodating to a tight stance caused “the music to stop”. We argue that despite the severe real effects of asset bubbles in all five examples, the case for targeting them explicitly is weak. Policy was flawed because it failed to pay sufficient attention to the output gap. We also present a more formal test, showing that policy errors influence the conditional volatility of equity returns as estimated in GARCH-M models. The conclusion examines US policy today in the light of our historical findings.; no

Myanmar Economic Monitor, Octoer 2015

World Bank Group
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Report; Economic & Sector Work :: Economic Updates and Modeling; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
56.4%
The Myanmar Economic Monitor (MEM) aims to periodically take stock of economic development and highlight economic prospects and policy priorities in Myanmar. Myanmar grew at an estimated 8.5 percent in real terms in 2014/15. The MEM touches on continued recovery in growth, public consumption, private investment, services, investment in manufacturing and industry, rebound in agriculture and the impact of floods. The monitor examines foreign trade and investment; the inflation, monetary and exchange rates; fiscal policy; and Myanmar’s economic outlook. The Policy Watch section covers a few selected priority issues closely related to Myanmar’s overall economic developments and outlook.

Brazil's Bank Spread in International Context : From Macro to Micro Drivers

Jorgensen, Ole Hagen; Apostolou, Apostolos
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
56.39%
In an international context, this paper analyzes the main drivers of Brazil's bank spreads measured by the net interest margin, by estimating internationally comparable measures for (i) institutional and regulatory (micro-) factors; (ii) macro-economic factors; and (iii) banking competition factors. The paper produces and applies a novel data set covering 197 areas and countries; ranging from 1995 to 2009, including 106 banks for Brazil and 16,434 banks worldwide. The analysis finds that micro-factors are the main drivers of spreads across the world. In the case of Brazil, the spread is found to be strongly accounted for by micro-factors -- also in international comparison. For example, micro-factors contributed 7.2 percentage points (79 percent) of the 11.5 percent total spread in Brazil in 2009, while macro-factors and banking competition factors jointly accounted for only 1.9 percentage points (21 percent). Conversely, Brazil does not rank high in international comparison in terms of macro-economic risk: Brazil and other countries from Latin America and the Caribbean are found to feature the highest micro-factors in the world while having the second-highest spreads and the second-lowest contribution of macro-factors. These unique findings suggest that countries striving toward reducing bank spreads should consider policies aimed at reducing microeconomic frictions in their banking sectors...

Analyzing the Effects of Policy Reforms on the Poor : An Evaluation of the Effectiveness of World Bank Support to Poverty and Social Impact Analyses

Independent Evaluation Group
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
Tipo: Publications & Research :: Publication; Publications & Research :: Publication
ENGLISH
Relevância na Pesquisa
56.4%
The current global financial and economic crises are likely to put enormous pressure on governments to respond with immediate measures and to undertake far-reaching reforms in the medium term, requiring a substantial increase in donor support. To protect the poor and enhance benefits to them, key policy reforms will need to be underpinned by systematic analysis of their expected poverty and social impacts. The World Bank's experience to date with the Poverty and Social Impact Analysis (PSIA) approach provides useful lessons for addressing these issues. Overall, implementation of the PSIA approach has had considerable limitations. There have been tensions between the various operational objectives assigned to PSIAs. The tensions concern inconsistencies between informing country and Bank policy decisions in a timely way and building country analytic capacity. PSIAs have had limited ownership by Bank staff and managers and have often not been effectively integrated into country assistance programs. Quality assurance...

How Complementary Are Prudential Regulation and Monetary Policy?

Canuto, Otaviano
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Brief; Publications & Research
ENGLISH
Relevância na Pesquisa
56.42%
Could either monetary policy or financial prudential regulation be relied on individually to mitigate asset price cycles or their effects? If both ways are effective, monetary policy and prudential regulation could then be considered 'substitutes,' in the sense that the individual use of either instrument leads to a reduction in the volatility of both corresponding targets. This note, however, argues in favor of complementarily rather than substitution in the use of monetary and macro-prudential policies: the combined (articulate) use of both policies tends to be more effective than a standalone implementation of either.

Bank Bailouts, Competition, and the Disparate Effects for Borrower and Depositor Welfare

Calderon, Cesar; Schaeck, Klaus
Fonte: World Bank, Washington, D.C. Publicador: World Bank, Washington, D.C.
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
56.42%
This paper investigates how government interventions into banking systems such as blanket guarantees, liquidity support, recapitalizations, and nationalizations affect banking competition. This debate is important because the pricing of banking products has implications for borrower and depositor welfare. Exploiting data for 124 countries that witnessed different policy responses to 41 banking crises, and using difference-in-difference estimations, the paper presents the following key results: (i) Government interventions reduce Lerner indices and net interest margins. This effect is robust to a battery of falsification and placebo tests, and the competitive response also cannot be explained by alternative forces. The competition-increasing effect on Lerner indices and net interest margins is also confirmed once the non-random assignment of interventions is accounted for using instrumental variable techniques that exploit exogenous variation in the electoral cycle and in the design of the regulatory architecture across countries. (ii) Consistent with theoretical predictions...

The World Bank Policy for Projects on International Waterways : An Historical and Legal Analysis

Salman, Salman M. A.
Fonte: World Bank Publicador: World Bank
Tipo: Publications & Research :: Publication; Publications & Research :: Publication
ENGLISH
Relevância na Pesquisa
66.45%
This study deals with the evolution and context of the Bank policy for projects on international waterways. It starts with a brief description of how the Bank has faced the challenges stemming from such projects, and the different approaches deliberated by the Bank that led to the issuance of the first policy in 1956. The study then reviews the implementation experience of the policy and analyzes the principles and procedures, as well as the main features of each of the policies issued in 1956, 1965, and 1985 respectively. The principles of international water law prevailing at each stage of the policy issuance are examined and compared with those of the Bank policy. The study also discusses in detail the notification process: its basis, by whom, to whom, its content, different riparian's responses, and the exceptions to the notification requirement. It then analyzes how the Bank handles an objection from one or more of the riparian's to projects proposed for Bank financing. It also examines how the Bank has dealt with transboundary groundwater...

Fiscal Sustainability in Burundi : Baseline Projections, Stochastic Simulations, and Policy Scenarios

Kida, Mizuho
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
56.38%
This paper analyzes Burundi's medium-term fiscal sustainability in the light of the country's vulnerability to various shocks. Earlier studies have highlighted the country's vulnerability to exogenous shocks related to commodity exports, rain-fed agriculture, and volatile foreign aid. Internally, uncertainty about the implementation of the government's fiscal reforms is a key risk. The earlier studies, however, did not quantify the size and impact of the risks on the country's fiscal sustainability. Drawing initially on the standard inter-temporal sustainability framework, the baseline analysis shows that Burundi's ongoing fiscal policy strategy is not sustainable, even with a gradually improving external environment and relatively strong growth. Stochastic simulations show that adverse shocks to rainfall or coffee prices could increase the country's debt-to-gross domestic product ratio by 5 to 7 percentage points above the projected baseline ratio. Aid shocks could have an even larger impact but the estimates are less statistically reliable because of the short time series and because historical volatility in part reflects endogenous shocks (such as reform implementation) as well as exogenous shocks (donors' behavior). The policy scenario analysis shows that future fiscal sustainability will hinge on the government's ability to stick to its plans to broaden the tax base...

Demystifying China’s Fiscal Stimulus; Policy Research Working Paper; No. 6221

Fardoust, Shahrokh; Lin, Justin Yifu; Luo, Xubei
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
56.41%
China's government economic stimulus package in 2008-09 appears to have worked well. It seems to have been about the right size, included a number of appropriate components, and was well timed. Its subnational component was designed to maximize the impact of the stimulus package on the economy and minimize the potential procyclical elements that are usually built into subnational fiscal mechanisms in federal countries. Moreover, China's massive fiscal stimulus played an important role in the overall recovery of the global economy. Using a simple analytical framework, this paper focuses on two key factors behind the success of the stimulus: investments in bottleneck-easing infrastructure projects and countercyclical nature of subnational spending based on the assumption that well-chosen infrastructure projects could improve business climate and thereby crowd in the private investment. The paper concludes that the expansionary subnational government spending played a key role in strengthening the overall impact of the stimulus and sustaining growth. It also highlights the importance of public investment quality and cautions about the sustainability of local government financing through the domestic banking system and increases in local governments off balance sheet or contingent liabilities. These lessons may be of particular relevance today for China...

Belarus - Industrial Performance before and During the Global Crisis : Belarus Economic Policy Notes - Note No. 1

World Bank
Fonte: World Bank Publicador: World Bank
Tipo: Economic & Sector Work :: Country Economic Memorandum
ENGLISH
Relevância na Pesquisa
56.38%
This note attempts to analyze and tentatively answer these questions by focusing on the drivers of growth and productivity, labor markets and enterprise restructuring, as well as the state system of enterprise support, which is key to understanding the interplay between the state and the economy in Belarus. The period of analysis covers 2004-08 with appropriate references to the previous periods and comparisons with Russia and/or other Commonwealth of Independent States (CIS) countries. The final section explores the Belarus's industrial performance in the period of the global crisis (late 2008-09) and reviews the government's policies that have been largely responsible for a relatively mild effect of the crisis on economic dynamics in the country. The analysis is based on the official statistics provided to the team by the National Statistics Committee (Belstat), National Bank, and various ministries, as well as statistics from other national and international statistical sources. In addition, the analysis benefited from the data provided by various enterprise surveys undertaken by the Research Institute by the Ministry of Economy (RIME) and from two sector case studies (in machinery and dairy sub-sectors). Belarus has weathered the crisis so far better than most of its neighbors...

World Bank Lending and the Quality of Economic Policy

Smets, Lodewijk; Knack, Stephen
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
56.46%
This study investigates the impact of World Bank development policy lending on the quality of economic policy. It finds that the quality of policy increases, but at a diminishing rate, with the cumulative number of policy loans. Similar results hold for the cumulative number of conditions attached to policy loans, although quadratic specifications indicate that additional conditions may even reduce the quality of policy beyond some point. The paper measures the quality of economic policy using the World Bank's Country Policy and Institutional Assessments of macro, debt, fiscal and structural policies, and considers only policy loans targeted at improvements in those areas. Previous studies finding weaker effects of policy lending on macro stability have failed to distinguish loans primarily intended to improve economic policy from other loans targeted at improvements in sector policies or in public management. The paper also shows that investing in economic policy does not "crowd out" policy improvements in other areas such as public sector governance or human development. The results are robust to using alternative indicators of policy quality...

Correlates of Success in World Bank Development Policy Lending

Moll, Peter; Geli, Patricia; Saavedra, Pablo
Fonte: World Bank Group, Washington, DC Publicador: World Bank Group, Washington, DC
Tipo: Publications & Research; Publications & Research :: Policy Research Working Paper
ENGLISH; EN_US
Relevância na Pesquisa
56.4%
This paper examines the correlates of success of development policy lending operations of the World Bank between 2004 and 2012. The paper uses a data set constructed of individual loan characteristics and ex-post loan ratings produced by the World Bank's Independent Evaluation Group. Departing from the related literature, the paper focuses mostly on examining the impact of loan characteristics, reform program design features, and task team leader skills, among other variables, on intended development results, while still controlling for country characteristics. It finds that a variable used to reflect congruence or "line of sight" between the policy reforms supported and the results framework is a critical ingredient for success. Task team leader skills in general, and task team leadership by staff affiliated with the former "Economic Policy" department of the World Bank, also increase the chance of success. Conversely, a weaker set of supported reforms in these operations tends to reduce the chance of success. Reforms supported in the energy sector seem to reduce the likelihood of success...

Mongolia Economic Update, November 2015

World Bank Group
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Report; Economic & Sector Work :: Economic Updates and Modeling; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
56.39%
Mongolia’s growth sharply slowed to 3.0 percent in the first half of 2015. External demand is weakening due to a continued dampening of the commodity market and slower growth in China, translating into a drop in exports. Slowing domestic demand is largely caused by a plunge in investment due to falling foreign direct investment (FDI). Measures were taken to curb the budget deficit, debt, and off-budget expenditures. New deficit and debt ceilings were set for 2015-18 by amending the fiscal stability law (FSL) in January. The 2015 budget was amended in January to curb the structural deficit within 5 percent of gross domestic product (GDP). Growth is expected to slow in 2015-16, but a recovery in foreign investment will begin to support the growth of the non-mining sector in 2016. The Development Bank of Mongolia (DBM) is expected to provide about Mongolian Tughrik rates (MNT) 600 billion to its commercial portfolio in 2015, and to further reduce its commercial spending to MNT 300-400 billion in the next couple of years due to tight financing conditions. Under these assumptions...