PREM Notes

176 items available

Permanent URI for this collection

This note series is intended to summarize good practices and key policy findings on poverty reduction and economic management (PREM) topics.

Items in this collection

Now showing 1 - 8 of 8
  • Publication
    Fiscal Policy for Growth
    (World Bank, Washington, DC, 2009-04) Ley, Eduardo
    While the term 'fiscal space' is new, the issue is quite old. Fiscal space refers to availability of budgetary resources for a specific purpose, typically growth-enhancing investment uses, without jeopardizing the sustainability of the government's financial position, or the stability of the economy. The recent interest in fiscal space originated as a reaction to International Monetary Fund (IMF), supported fiscal-adjustment programs that by focusing too narrowly on fiscal-deficit targets often ignored the quality of the underlying adjustment. Affected countries meanwhile advocated for fiscal space for investments in physical and human infrastructure crucial for economic growth. The IMF independent evaluation office, in their study on fiscal Adjustment in IMF supported programs acknowledged this problem, observing that 'much of the fiscal adjustment achieved is through measures that do not assure long-term sustainability and flexibility of fiscal systems to future shocks'. In effect, the improvement of the fiscal balance in the context of IMF-supported programs too often relied heavily in cuts in public investment that improve today's government cash flow at the expense of future economic growth.
  • Publication
    A Note on Vulnerability : Findings from Moving Out of Poverty
    (World Bank, Washington, DC, 2009-04) Dudwick, Nora; Hull, Katy; Tas, Emcet
    Poverty studies typically focus on people who live below the poverty line. Few studies have examined how people are able to not only move out of but also stay out of poverty. The fifteen, country study, moving out of poverty: success from the bottom up, by Deepa Narayan, Lant Pritchett, and Soumya Kapoor, is one of the few large-scale comparative research attempts to analyze mobility out of poverty rather than poverty alone. The study focused largely on rural communities over a 10-year period between 1995 and 2005, when developing countries exhibited overall relatively strong growth.
  • Publication
    Linking Fiscal Policy and Growth in PER Reports : An Operational Framework for Low-Income Countries
    (World Bank, Washington, DC, 2009-03) Moreira, Emmanuel Pinto
    This note describes a framework for linking fiscal policy and growth issues in low-income countries. The framework has been developed in the context of a recently, completed Public Expenditure Management and Financial Accountability Review (PEMFAR) report in the Latin American and Caribbean (LAC) region. The note describes first the framework and then illustrates its application to fiscal reform and growth prospects in the context of Haiti. The note concludes by laying out an agenda for developing this framework further, ideally to facilitate use of this framework in preparing more Public Expenditure Reviews (PERs) and elaborating medium-term budget frameworks.
  • Publication
    The Economic Participation of Adolescent Girls and Young Women : Why Does It Matter?
    (World Bank, Washington, DC, 2008-12) Morrison, Andrew; Sabarwal, Shwetlena
    This note summarizes available research on the impact of schooling and employment of adolescent girls and young women on earnings and poverty reduction, demographic outcomes, child development outcomes, and female empowerment. It identifies key implications of this research for the formulation of public policy.
  • Publication
    Breaking Out of Inequality Traps : Political Economy Considerations
    (World Bank, Washington, DC, 2008-10) Fritz, Verena; Katayama, Roy; Simler, Kenneth
    This note is based on presentations and comments by Francois Bourguignon, Frances Stewart, Leonard Wantchekon, and Nancy Birdsall (chair) at the 2008 PREM Conference session on political economy of inequality: implications for inclusive growth and focuses on actions that the World Bank may pursue to promote more inclusive growth.
  • Publication
    “Brain Drain” and the Global Mobility of High-Skilled Talent
    (World Bank, Washington, DC, 2008-09) Leipziger, Danny M.
    This note outlines the challenges of retaining and attracting high-skilled professionals, briefly assesses both the 'brain gain' and the 'brain drain' in the health sector, and examines some of the existing programs that encourage return. It provides an overview of the role of the diaspora in fostering the transfer of knowledge, technology, capital, and remittances.
  • Publication
    The Global Macroeconomic Situation and Policy Implications
    (World Bank, Washington, DC, 2008-08) Brahmbhatt, Milan
    This PREM note provides some perspectives on the ongoing financial turmoil and the present complicated situation in the world economy. Two unifying themes can help to organize the discussion. First, the world economy is working its way through the aftershocks of a major global credit boom-and-bust cycle. A second cross-cutting theme is the emergence of developing countries as major players in the world economy. The combination of these trends could, over time, undermine existing structures of international economic cooperation.
  • Publication
    Access to Preshipment Export Finance : Do Guarantees Help?
    (World Bank, Washington, DC, 2007-04) Alavi, Hamid
    Many small- and medium-sized emerging exporters in developing countries have inadequate access to short-term working capital to finance their export transactions. This is mainly due to a market failure resulting from informational asymmetries on the part of banks about exporters' ability to execute export orders according to buyers' standards of quality, cost, and delivery. Several countries have established pre-shipment export finance guaranty facilities to help alleviate this market failure. Their aim is to act as catalyst to temporarily share nonperformance risks of exporters with the banks, allowing the banks to evaluate nonperformance risks of emerging exporters. Some countries have implemented these facilities successfully encouraging banks to provide pre-shipment finance without guarantees, while others have not. This note draws on Tunisia's experience to outline the necessary conditions for the success of these facilities.