World Bank Country Studies

65 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 This series as been superseded by the World Bank Studies series.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 21

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.
Afghanistan : State Building, Sustaining Growth, and Reducing Poverty

(Washington, DC: World Bank, 2005) World Bank

Afghanistan has come a long way since emerging from major conflict in late 2001. Important political milestones mandated by the Bonn Agreement (two Loya Jirgas, a new Constitution, recently the Presidential election) have been achieved. The economy has recovered strongly, growing by nearly 50 percent cumulatively in the last two years (not including drugs). Some three million internally- and externally-displaced Afghans have returned to their country/home.More than four million children, a third of them girls, are in school, and immunization campaigns have achieved considerable success. The Government has supported good economic performance by following prudent macroeconomic policies; it has begun to build capacity and has developed the nationally-led budget process and made the budget into its central instrument of reform; and it has made extraordinary efforts to develop key national programs (for example public-works employment programs and community development programs) and to revive social services like education and health.
The Road to Sustained Growth in Jamaica

(Washington, DC, 2004-04) World Bank

Jamaica's economic history is one of paradoxes, and potential - it has an English-speaking, and reasonably well-educated labor force, is close to the world's largest market, the United States, and, has an abundance of natural beauty, which has spurred tourism - and, many of its social, and governance indicators are strong, including near universal school enrollment. Poverty rates are below that of comparable countries. Yet, the Jamaican story is marked by the paradoxes of low growth in GDP and high employment, despite high investment, and important achievements in poverty reduction. This paper attempts to explain these paradoxes, and concludes that one possible explanation is that GDP has been understated. Amid these challenges, this report proposes that a "bandwagon" approach to reforms may be needed to improve prospects for sustained growth, with policy actions on several fronts, including measures to avert crisis, while continuing to strengthen social safety nets, as well as short- and long-term policies, such as reducing the growth of public expenditure, and tackling crime. Given that policy choices are likely to be difficult, it argues that an approach based on social dialogue, and consensus building is essential to create ownership for future reforms among all stakeholders.
Bulgaria Public Expenditure Issues and Directions for Reform

(Washington, DC, 2003-08) World Bank

The study is the first-ever Public Expenditure and Institutional Review (PEIR) on Bulgaria by the World Bank. It outlines public expenditure issues, and policy directions to improve the efficiency, and effectiveness of public expenditures in the country. To this end, it assesses fiscal sustainability, and analyzes the public expenditures, and their institutional framework. Bulgaria has made substantial progress toward long-term macroeconomic stability, but important challenges remain in the five sectors analyzed - education, health, social protection, the state railways, and energy sectors. It also analyses the institutional challenges in public expenditure management.
Public Expenditure Review for Armenia

(Washington, DC, 2003-08) World Bank

This is the first full-scale World Bank Public Expenditure Review for Armenia, which reviews the main fiscal trends in the country for the period 1997-2001, and develops recommendations with respect to further fiscal adjustment, expenditure prioritization, and budget consolidation. The analysis focuses on core issues, i.e., sustainability of fiscal adjustment, fiscal transparency, expenditure priorities, and short-term expenditure management, given the existing economy-wide institutional constraints. The study covers extra-budgetary funds, in-kind external grants, subsidies provided by the state-owned companies in the energy, and utility sectors, and operations of the Social Insurance Fund, as well as regular spending. It suggests a medium-term action plan to address identified weaknesses. Sectoral chapters review health, education, and social protection and insurance. The study also analyzes budget support for core public infrastructure, and the country's public investment program.
Rural Poverty Alleviation in Brazil : Toward an Integrated Strategy

(Washington, DC, 2003-06) World Bank

The objective of this report is to design an integrated strategy for rural poverty reduction in Brazil. It contains an updated and detailed profile of the rural poor in the northeast and southeast regions of Brazil; identifies key determinants of rural poverty in these regions; and proposes a five-pronged strategic framework and a tentative set of policy options. The latter were identified via an analysis of rural poverty determinants complemented with an evaluation of relevant current public programs and six in-depth thematic studies: (a) the dynamics of the Brazilian small farm sector, (b) rural labor markets, (c) rural land markets, (d) rural non-farm employment, (e) rural education, and (f) rural pensions.
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.
Agriculture in Nicaragua : Promoting Competitiveness and Stimulating Broad-Based Growth

(Washington, DC, 2003-05) World Bank

The report reviews basic growth, as being one of four pillars for Nicaragua's poverty reduction strategy. The well-being of the rural poor will continue its dependence on - to a great extent - agriculture. The study analyzes main agricultural development aspects, and stipulates the broad basic growth may be enhanced by strengthening agricultural competitiveness. Yet, export growth is key to economic growth, and requires immediate actions within coherent strategies, illustrated through the case of coffee within the proposed strategy. The report also identifies market forces regarding productivity restrictions of the rural sector, and suggests medium- and long-term solutions. Finally, the report addresses risk management, including a description of some promising, pilot projects.
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.