Foreign Trade, FDI, and Capital Flows Study
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A Comparative Overview of the Incidence of Non-Tariff Measures on Trade in Lao PDR(World Bank, Washington, DC, 2016-02-29) World Bank GroupAn efficient and transparent regulatory framework governing international trade is a necessary condition for countries to realize the benefits of international trade. Over the last decade, Lao PDR has been deepening its economic ties with the global economy through the formal accession to the WTO in 2013. At the regional level, the country is committed to be full member of the ASEAN Economic Community. These agreements entailed profound changes to Lao PDR’s regulatory framework governing international trade. This report provides an overview of the incidence on NTMs on import flows in Lao PDR before and after WTO accession and identifies lingering regulatory hurdles that may still hamper the ability of the country to reap the gains of a deeper integration. Employing detailed and comparable NTM information, this note characterizes the changes in the trade related regulatory framework in Lao PDR and compares the current scheme with that of other countries in Asia. The report also combines econometric estimations of Ad-Valorem Equivalents (AVEs) of NTMs with qualitative information collected through fieldwork to identify priority measure to streamline. This report is organized as follows. Section two discusses main conceptual issues and presents the data and metrics to examine the role of NTMs in import flows. Section three, describes the trade incidence of NTMs and compares it with similar countries and with the situation prior to WTO accession. Section four combines an econometric technique with qualitative information to discuss the stringency of NTMs. Section five presents some concluding remarks and provides some recommendation for reform.
Services and Manufacturing Linkages: An Empirical Analysis for Lao PDR(World Bank, Washington, DC, 2016-02) World Bank GroupThis report seeks to shed light on the ways in which the services sector has contributed to Lao PDR’s competitiveness and integration into the global marketplace. It focuses on two complementary roles that the services sector plays: first, as an avenue for export diversification and growth and, second,by providing inputs into other productive sectors of the economy, such as the manufacturing sector. As economies grow, the importance of the services sector generally increases, but its role as an enabler of other sectors of the economy in moving up the value chain is frequently overlooked. However, the services sector is critical in raising competitiveness of these other sectors to boost growth and create better quality jobs. The main policy recommendations that emerge from this report are aimed at increasing competition in the services sector, reducing distortive regulations, and opening up the sector to foreign participation, building up skills, both at the individual and at the firm level, and investing in hard and soft infrastructure to promote the development of the sector.
The Labor Impact of Lao Export Growth(World Bank, Washington, DC, 2016-02) Ruppert Bulmer, Elizabeth ; Hollweg, Claire H.As countries become increasingly integrated into the global economy, increased trade links with other countries translate into increased access to better or cheaper imports and increased demand for exports. Both can have an impact on consumers, producers and workers through household consumption, household production, and labor incentives. The channels through which increased trade integration can affect labor include: (i) the consumption channel, typically leading to an increase in purchasing power and therefore higher real wages, and (ii) the employment effect due to increased labor demand. The extent of these gains to trade will depend on the incidence of trade policies or trade shocks; in other words, the impact will depend on which products become less expensive, which sectors increase demand for skilled or unskilled labor, and which workers can access these new jobs. This report utilizes a range of methodologies and datasets that implicitly link trade and jobs; by using these complementary analytical approaches, we generate multiple perspectives on Lao PDR’s recent labor market outcomes, and their implications for Lao PDR’s current and future trade competitiveness.
Building Export Competitiveness in Laos : Summary Report(World Bank, Washington, DC, 2006-11) World BankThe basic framework for the background study on building export competitiveness in Laos is based on the National Growth and Poverty Eradication Strategy (NGPES), which appropriately stresses the need to: (i) improve the business climate by creating a predictable and transparent policy environment; (ii) streamline administrative procedures and regulations that are an obstacle to domestic and foreign private investment; and (iii) strengthen market institutions, including most notably those related to dispute resolution and contract enforcement. This paper focuses on three key priority areas: (a) Strengthening fiscal management is a first priority area. Progress in strengthening fiscal management is likely to require reforms to the broader framework of center-province fiscal relations; (b) Establishing a functioning banking system is a second priority area. Laos needs an efficient banking system to achieve the government's development goals and meet the competitive challenges of regional integration; and (3) Improving competitiveness is a third priority area. Conventional macroeconomic assessments of competitiveness using real effective exchange rates do not suggest any major competitiveness concerns. Other approaches, involving a more detailed assessment of the various elements that make up the investment climate, suggest that competitiveness is a major impediment to attracting investment to Laos. This study addresses the main elements of the reform agenda to strengthen Laos' competitiveness, placing special emphasis on trade facilitation and reforms to the business environment.