World Bank Country Studies

68 items available

Permanent URI for this collection

http://hdl.handle.net/10986/4392

Country Studies are published with approval of the subject government to communicate the results of the Bank's work on the economic and related conditions of member countries to governments and to the development community. This series as been superseded by the World Bank Studies series.

Items in this collection

Now showing 1 - 10 of 16

Putting Tanzania's Hidden Economy to Work : Reform, Management, and Protection of its Natural Resource Sector

(Washington, DC : World Bank, 2008) World Bank

This paper tells a story about conditions in Tanzania's hidden economy, the parts of the natural resource sector often ignored in conventional economic analyses and studies, and makes recommendations for future policy actions. The paper draws primarily from extensive background studies undertaken of the forestry, fishery, wildlife, mining, and tourism sub sectors (COWI 2005) as well as a wide range of complementary studies undertaken by the World Bank and others. It de-emphasizes those sectors with factors of production that are not readily traded or exported (such as land and water), although some examples are given relating to soil quality and water management based on extensive studies undertaken within the agriculture and water sectors. The story is relatively simple: pricing distortions, coupled with institutional weakness and the lack of rule of law, have created an environment that undermines economic growth. This paper also acknowledges that Tanzania has already taken positive steps to making some of the needed corrections to protect its natural resources. In recent analyses of corruption indicators world-wide (World Bank Institute 2006), Tanzanian stands out among those nations as having made significant progress towards improving accountability and reducing economic leakages. Anti-corruption legislation was drafted for parliament attention in early 2007. Revisions to the Deep Sea Fishing Authority Act were passed into law in early 2007. Moreover, changes in institutional arrangements, taxation, and general management of the resource sector show promise and have contributed positively to general economic growth. Yet, the sector remains fragile and vulnerable in other respects: perceptions of unequal income distribution, impacts of climate change, and other external influences must also be addressed to build on past successes.
Angola : Oil, Broad-Based Growth, and Equity

(Washington, DC: World Bank, 2007) World Bank

This book points out that the main issues confronting the Angolan authorities in their efforts to consolidate macroeconomic stability on a sustainable basis and in promoting an improvement in the welfare of the Angolan citizens do not seem to differ significantly from those addressed in the 1990 report. Therefore, in the current Country Economic Memorandum, the Bank reassesses some of the key issues that remain relevant nowadays and that should help the Angolan economy reach a path of sustainable economic development. The analysis in this report centers around the following four core issues: (i) taking stock of socio-economic realities; (ii) the options available for the management of the country's mineral wealth without deleterious macroeconomic consequences; (iii) the main constraints to economic diversification away from the mineral sectors; and (iv) the challenges and opportunities to improve the welfare of the population. Each of these core issues forms the building blocks that provide an overview of the current situation and a possible solution to Angola's structural problems in the short to the medium term. The report thus plays an informative role and offers policy recommendations. In Chapter 1, the analysis starts with a brief discussion of socio-economic realities in the country. In Chapter 2, a comprehensive macroeconomic assessment is presented highlighting major past features, the country's constant search for stability, and recent successes in the macroeconomic front. In Chapter 3, the report discusses the structure of the petroleum sector, the future production profile, the size of the oil wealth, and policy options to manage the revenue windfall. Chapter 4 focuses on the diamond sector, its structure, legal and fiscal framework, and explores ways in which the sector can improve its contribution to social development. In Chapter 5, the report assesses the quality of the business environment and the opportunities to improve the investment climate. Chapter 6 discusses alternatives to unleash the potential of the agricultural sector in generating employment outside of the mineral sectors. Finally in Chapter 7, the analysis focuses on how to improve the livelihoods of the poor and of the vulnerable with recommendations on how to use the mineral wealth to improve public service delivery targeted to the poor.
Household Risk Management and Social Protection in Chile

(Washington, DC, 2005) World Bank

This volume takes a critical look at the country's social protection "system" - broadly defined to include policy interventions, public institutions, and the regulation of private institutions that lower the welfare costs of adverse shocks to income from job loss and extended unemployment, health episodes, old age, and life-time poverty - to determine if a system exists or simply a set of loosely coordinated programs. The study also assesses whether households are provided with appropriate tools to mitigate risks to their income, identifying gaps in coverage and where instruments are missing. As well, the study provides the Government with a set of guidelines grounded in a conceptual framework that, if carefully applied, could increase the effectiveness of social protection. The author of the study finds that Chile succeeds in providing households with the instruments that they need to mitigate shocks to income. The institutions Chile has put in place to help households lower losses from these shocks - from the new unemployment insurance system, the retirement security system and the mixed health insurance system - are generally appropriately designed to match the nature of the risks they are intended to cover. Yet, while still in a minority, too many Chilean households - even among the non poor - do not have access to the sophisticated, state of the art social protection institutions that are in place.
Public Expenditure Management and Financial Accountability in Niger

(Washington, DC, 2005) World Bank

This study shows how difficult it is for Niger to significantly change its expenditure composition in a short time span. A narrow and volatile domestic resource base, heavy dependence on aid, and a large share of pre-determined expenditures such as external debt payments are important factors behind this lack of flexibility. There are ways, though, to create space in the budget for increasing public spending on priority sectors. The study identifies a number of measures in this regard, such as increasing domestic revenues, more realistic and conservative budgeting, strengthening cash management, controlling the wage bill, prudent borrowing and attracting higher external financing for recurrent costs in priority sectors. The study also shows that enhancing the efficiency and transparency of public spending is as important as increasing spending for PRS priority sectors. It thoroughly assesses public management systems in Niger and presents an action plan, jointly elaborated by the Government and its main external partners, to address the main challenges in this area. This action plan contains a priority set of measures to improve budget preparation, execution as well as internal and external oversight.
Creating Fiscal Space for Poverty Reduction in Ecuador : A Fiscal Management and Public - Expenditure Review

(Washington, DC: World Bank and the Inter-American Development Bank, 2005) World Bank

This report consists of two volumes. Volume I examines whether, and how, the core goals of public expenditure management, i.e., balanced fiscal aggregates, resource allocations to strategic sectors, and equity and microeconomic efficiency of public spending are met in Ecuador. Volume II presents sector studies on fiscal sustainability, the fiscal rules, education, health, pensions, the results of a national teachers tracking survey, water and sanitation, electricity, telecommunications and oil. Volume II deals with sectoral policies, and their link to fiscal management. It identifies the most efficient and cost-effective interventions in the social sectors, while making an optimal use of the reduced and available fiscal space. The study also recognizes the importance of political constraints, and the difficulties of setting steady rules in a non-cooperative game among national political actors that are particularly reflected in budget allocations.
Restoring Fiscal Discipline for Poverty Reduction in Peru : A Public Expenditure Review

(Washington, DC: World Bank, 2003-06) World Bank ; Inter-American Development Bank

This public expenditure review is produced jointly by the World Bank and the Inter-American Development Bank, and focuses on social sectors spending and leaves aside infrastructure and other sectors. This report, finalized in June 2002 and discussed with Authorities in mid-August 2002, does not take into account policy developments occurring after this time. The report is organized as follows: Chapter 1 presents a synthesis of Peru's public expenditure reform agenda from the Bank's perspective. It is based on, and distills, the thematic chapters that make up this report. Chapters 2-4 examine the core functions of public expenditure management: macro fiscal aggregates, resource allocations to strategic sectors, and microeconomic efficiency of public spending. Chapters 5-8 explore selected themes, such as the decentralization of public administration and the social sectors; civil service reform; governance and corruption; and mining fiscal and environmental issues. These chapters are, in turn, supported by fifteen topic-specific background papers, including an innovative public expenditure tracking survey on municipal transfers. Other topics focus on public sector employment; decentralization of health and education; an empirical diagnostic study on governance, rule of law, and corruption; and a comparison of the Peruvian tax system with mining tax systems in other nations.
Slovak Republic--Joining the EU : A Development Policy Review

(Washington, DC, 2003-06) World Bank

The Slovak Republic's external current account and fiscal deficits (net of privatization receipts) are unsustainably high (at about 8 percent of GDP in 2002), despite some recent declines. With a capital account surplus of perhaps 20 percent of GDP this year, the Slovak Republic may not find it particularly difficult to finance these deficits, but this favorable situation will not last. Furthermore, through its impact on the real exchange rate, this policy mix is undermining the employability of large segments of the population (particularly those with low skill levels) and will ultimately choke growth (projected at 4 percent for 2002). While much policy attention has gone to stimulating investment, future growth will also depend on raising the employment rate, currently one of the lowest among the Central and East European Countries (CEECs). This report lays out the broad thrust of a policy strategy to bolster the recovery and bring the economy towards convergence with the EU. This strategy consists of three key elements: (a) Continued trade, finance, and enterprise reform to complete the structural transformation of the economy and align it with the EU framework (b) Fiscal consolidation, focusing on cutting back expenditure and stabilizing revenues, while redirecting revenue and expenditure policies to become more fully supportive of growth and employment objectives (c) Labor market reform, directed at enhancing labor market flexibility by relaxing legal provisions on working arrangements (such as part-time work, self-employment, and fixed term contracts), by decentralizing collective bargaining, and discarding the minimum wage as an instrument of incomes policy, and by reforming the social assistance system. The ultimate success of the policy reforms outlined in this report will depend to a great extent on the government's capacity to strengthen the institutional framework in which those policies are conceived, decided upon, and executed. Three priorities have been highlighted: (i) the reform of public expenditure management systems and practices needed to support a growth-oriented fiscal strategy; (ii) the consolidation of the recent decentralization moves as a prerequisite for further devolution, and (iii) a much overdue overhaul of the judiciary system.
Non-bank Financial Institutions and Capital Markets in Turkey

(Washington, DC, 2003-04) World Bank

This study analyses the state of development, and prospects of future growth of Turkish non-bank financial institutions, and capital markets. Currently, credit markets in Turkey are dominated by banking, and capital markets are dominated by Government securities. Longstanding macro-economic instability, and inflation have discouraged investment in financial assets, and crowded out funding for the private sector. The resulting lack of depth, and breadth has made the financial sector vulnerable to shocks, resulting in repeated crises, and, has reduced its intermediation efficiency. To enhance the financial sector's capacity to support private sector development, and economic growth, and to reduce its vulnerability to shocks, non-bank sources of finance should be developed. The report identifies the key policy issues that should be addressed for this purpose. The discussion, and policy recommendations are structured around the following leading themes: a) mobilizing savings; b) building an institutional investor base, comprising insurance companies, private pension funds, and mutual funds; c) developing equity, debt, and derivative markets; d) developing leasing, factoring, and venture capital companies; and, e) strengthening confidence in financial markets through improved corporate governance, accounting and auditing standards, and practices, and, financial sector regulation, and supervision.
Regaining Fiscal Sustainability and Enhancing Effectiveness in Croatia : A Public Expenditure and Institutional Review

(Washington, DC, 2002-03) World Bank

The report presents the macroeconomic setting, and fiscal developments in the 1990s in Croatia, a country facing an unparalleled opportunity towards sustainable growth, and integration into the European Union. Nonetheless, the country needs to sustain macroeconomic stabilization, and improve the investment climate. To this effect, public sector reform needs to be oriented to diminish the size of the state, and reduce the fiscal deficit to sustain macroeconomic stability in the medium term. Yet, the scope for reducing the deficit through revenue increases is limited, even though a decrease in the tax burden would be highly desirable. This means that most of the adjustment will need to be made in public expenditures, particularly by identifying, and implementing policies that will reduce the level of expenditures, while improving their effectiveness; thus, budgetary management improvement will be critical to this effort. The report analysis indicates that the current budget in Croatia is not a comprehensive measure of all fiscal activity, namely that five extra-budgetary funds are not included in the budget; that off-budget revenues, outside of the extra-budgetary funds, still exist; that the cash budgeting system leads to the accumulation of arrears that do not appear in budget presentations; and, that laws outside of the budget law, lead to mandatory spending that falls outside of the budget process.
Growth Challenges and Government Policies in Armenia

(Washington, DC, 2002-02) World Bank

This report reviews growth trends in Armenia for the period 1994-2000, outlines major weaknesses of existing development patterns, and suggests a package of policy recommendations designed to accelerate enterprise restructuring, attract investment, and encourage the creation of new businesses in the medium term (three to five years). Such steps are needed to sustain (and preferably to increase) the current growth rates, to stop emigration among the young and skilled, and to reduce poverty. The government needs to focus much more clearly on generating the environment for private sector led growth by removing bottlenecks in policies, infrastructure, and institutions that prevent new private businesses from flourishing. International aid donors can help by supporting the removal of administrative barriers for investments, the rehabilitation of infrastructure, and the creation of "restructuring agencies" that will enable firms in key sectors to overcome or avoid common constraints to business growth in Armenia. Successful restructuring by such firms should have a demonstration effect on the country's economy and help consolidate public support for moving forward the program of reform begun a decade ago.