03. Journals

2,963 items available

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http://hdl.handle.net/10986/2210

These are journal articles published in World Bank journals as well as externally by World Bank authors.

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Now showing 1 - 10 of 21

The Role of Bank and Corporate Balance Sheets on Early Warning Systems of Currency Crises—An Empirical Study

(Taylor and Francis, 2016-06-30) Mulder, Christian ; Perrelli, Roberto ; Duarte Rocha, Manuel

This study analyzes the role of bank and corporate balance sheets on early warning systems (EWS) of currency crises. Using firm-level data on debt structure, leverage, liquidity, and profitability, this study presents estimations of EWS for a panel of emerging markets. Using calibration experiments, we assess the performance of alternative EWS specifications in a comprehensive range of crisis-probability cut-offs‏. These models supplement EWS based on traditional macroeconomic indicators, improving forecasting performance substantially. The results support the third-generation models of currency crises and can assist policymakers on the design of surveillance strategies tailored for heterogeneous levels of risk tolerance and country specificities.
The Minimal Impact of a Large-Scale Financial Education Program in Mexico City

(Elsevier, 2014-03-12) Bruhn, Miriam ; Lara Ibarra, Gabriel ; McKenzie, David

We conduct randomized experiments around a large-scale financial literacy course in Mexico City to understand the reasons for low take-up among a general population, and to measure the impact of this financial education course. Our results suggest that reputational, logistical, and specific forms of behavioral constraints are not the main reasons for limited participation, and that people do respond to higher benefits from attending in the form of monetary incentives. Attending training results in a 9 percentage point increase in financial knowledge, and a 9 percentage point increase in some self-reported measures of saving, but in no impact on borrowing behavior. Administrative data suggests that any savings impact may be short-lived. Our findings indicate that this course which has served over 300,000 people and has expanded throughout Latin America has minimal impact on marginal participants, and that people are likely making optimal choices not to attend this financial education course.
How Can Safety Nets Contribute to Economic Growth?

(Oxford University Press on behalf of the World Bank, 2014-01-23) Alderman, Harold ; Yemtsov, Ruslan

The paper provides an up-to date and selective review of the literature on how social safety nets contribute to growth. The evidence is carefully chosen to show how safety nets have the potential to overcome constraints on growth linked to market failures, and is organized into four distinct pathways: i) encouraging asset accumulation by changing incentives and by addressing imperfections in financial markets caused by constraints in obtaining credit, and from information asymmetries; overcoming such failures helps households to invest into their human capital or productive assets; ii) failures in insurance markets especially in low income setting; safety nets are assisting in managing risk both ex post and ex ante; iii) safety nets are overcoming failure to create assets and other local economy complementary factors to household-level investments; iv) safety nets are shown to relax political constraints on policy. Safety nets have a dual objective of directly alleviating poverty through transfers to the poor and of triggering higher growth for the poor. However, the trade-off between the dual objectives of equity and growth is not eliminated by the potential for productive safety nets; this remains critical for designing social policies.
Trade Liberalization and Investment : Firm-level Evidence from Mexico

(Oxford University Press on behalf of the World Bank, 2012-06-01) Kandilov, Ivan T. ; Leblebicioğlu, Aslı

Plant-level panel data from Mexico's Annual Industrial Survey is employed to evaluate the impact of reductions in tariffs and import license coverage on final goods, as well as intermediates, on firms'investment decisions. Using data from 1984 to 1990, a period during which a large scale trade liberalization occurred, a dynamic investment equation is estimated using the system-GMM estimator developed by Arellano and Bover (1995) and Blundell and Bond (1998). Consistent with theory, the empirical analyses show that a reduction in import protection on final goods leads to lower plant-level investment, whereas reductions in tariffs and import license coverage on intermediate inputs result in higher investment. Also, firms with larger import costs experience a larger increase in investment following a reduction in import protection. On the other hand, higher markup firms lower investment more aggressively following reductions in tariffs and import license coverage on final goods.
Are The Poverty Effects of Trade Policies Invisible?

(World Bank, 2011-05-31) Verma, Monika ; Hertel, Thomas W. ; Valenzuela, Ernesto

Beginning with the WTO's Doha Development Agenda and establishment of the Millennium Development Goal of reducing poverty by 50 percent by 2015, poverty impacts of trade reforms have become central to the global development agenda. This has been particularly true of agricultural trade reforms due to the importance of grains in the diets of the poor, presence of relatively higher protection in agriculture, as well as heavy concentration of global poverty in rural areas where agriculture is the main source of income. Yet some in this debate have argued that, given the extreme volatility in agricultural commodity markets, the additional price and therefore poverty impacts due to trade liberalization might well be indiscernible. This paper formally tests the “invisibility hypothesis” using the method of stochastic simulation in a trade-poverty modeling framework. The hypothesis test is based on the comparison of two samples of price and poverty distributions. The first originates solely from the inherent variability in global staple grains markets, while the second combines the effects of inherent market variability with those of trade reform in these same markets. Results, at the national and stratum level indicate that the short-run poverty impacts of full trade liberalization in staple grains trade worldwide, are distinguishable in only four of the fifteen countries, suggesting that impacts of more modest agricultural trade reforms are indeed likely to be invisible in short run. Countries that show statistically significant short run impacts are the ones characterized by high staple grains tariffs and/or a moderate degree of grain markets variability. Within each country, results are heterogeneous. In two thirds of the sample countries, agriculturally self-employed poor experience statistically significant poverty impacts from trade liberalization. However, this figure is under a third for all the other strata.
South Meets South : Enriching the Development Menu

( 2010-10) Maruri, Enrique ; Fraeters, Han

African countries, like Nigeria, with an emerging information technology (IT) industry, are examples of how globalization has opened up vast new opportunities. Information technology and business process outsourcing is a multibillion dollar talent-driven industry with a market that is still untapped. Africa is keen on exploring this new frontier which has the potential to create thousands of quality jobs for its young people. But to do so, it must nurture the right skills. Where can these be found?
The Bogotá Spirit : South-South Peers and Partners at the Practice-Policy Nexus

( 2010-10) Schulz, Nils-Sjard

On a warm evening in late March of this year, more than 500 enthusiastic delegates from around the world poured out of the Chamber of Commerce building in Bogot�, with a shared vision that South-South cooperation would reshape today�s development cooperation landscape. Despite the Colombian capital�s dizzying altitude of 2,800 meters, their zeal for effective South-South knowledge exchange and mutual learning left the participants of the Bogot� High Level Event on South-South cooperation and Capacity Development clear headed and with a long list of ideas, projects and plans, for their countries and regions, and for their multilateral, parliamentary, civil society, and research organizations.
Triangular Cooperation : Opportunities, Risks, and Conditions for Effectiveness

( 2010-10) Ashoff, Guido

Triangular cooperation is a relatively recent mode of development cooperation. It normally involves a traditional donor from the ranks of the OECD's Development Assistance Committee (DAC), an emerging donor in the South, and a beneficiary country in the South. It has received increasing international attention because of particular advantages it is said to provide. At the same time, it poses several risks that could further complicate international development cooperation. To make full use of its potential, it is important to conceive it as a learning process, to identify the interests of the three parties involved, and to apply the internationally agreed principles of aid effectiveness. When these principles are applied, triangular cooperation can enrich international development cooperation.
Development Marketplace Winners : On the Pathway to Replication and Sustainability

( 2010-07) Grubisich, Tom

Even before Panos Varangis and his team of World Bank, insurance practitioners, and academics competed for a US$117,000 grant in Development Marketplace 2000, they were, like chess players, already planning how to fund and test their concept in countries beyond the scope of their DM application.
Coming Out of Recession

(World Bank, 2009-12-01) Kasturi Rangan, V. ; Petkoski, Djordjija

The financial crisis creates unique opportunities for companies to reassess their strategies and identify innovative solutions, including creative partnerships that meet the needs of the poor.