Journal Issue:World Bank Research Observer, Volume 18, Issue 2
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Articles
Should Policy-Based Lending Still Involve Conditionality?
(World Bank, 2003) Koeberle, Stefan G.
Traditional conditionality in
policy-based lending is often criticized as being
ineffective, intrusive, and corrosive. Disillusionment has
led to replace ex ante conditionality with ex post
conditionality and to focus on ownership, selectivity, and
partnership. This article reviews experiences with
conditionality in the World Bank policy-based lending and
explores the benefits and drawbacks of various approaches.
It argues that conditionality should play a central role in
policy-based lending-but cannot substitute for country
ownership and good policies. Moreover an exclusive focus on
conditionality based on ex ante commitments or ex post
results may not be practical or useful for the Bank
policy-based lending. Thus a key recommendation in to use
conditionality selectively, tailred to country
circumstances. Indeed, an eclectic mix of traditional and
new approaches is already being used with programmatic
policy-based lending offering a particularly promising way
to reconcile the debate between the traditional ex ante
approach and the aspirations of a results-based approach to conditionality.
Globalization and the Labor Market
(World Bank, 2003) Rama, MartÃn
Does globalization affects labor market
outcomes? Can labor market policies mitigate or offset the
effects? Would these polices have important side effect on
efficiency this article addresses these questions through an
analytical survey of the literature, including several
studies under preparation. Some of the studies use new
cross-country database of wages and other labor market
indicators. Although all the answer should be considered
tentative some patterns emerge. Different aspects of
globalization have different consequence. In the short run
wages fall with openness to trade and rise with foreign
direct investment also increase (substantially) the returns
to education. Social protection programs are effective in
reducing inequality. Minimum wages, public sector
employment, and core labor standards are not. Between these
two extremes, collective bargain works mainly for the middle
class. Social protection programs do not adversely affect
efficiency, but high public sector employment and trade
union membership are associated with weaker performance in
the context of adjustment.
Developing Countries' Changing Participation in World Trade
(World Bank, 2003) Martin, Will
Recent year have seen substantial
reductions in trade policy and other barriers inhibiting
developing country participation in world trade. Lower
barriers have contributed to a dramatic shift in the pattern
of developing country trade-away from dependence on
commodity exports to much greater reliance on manufacture
and services. In addition, exports to other developing
countries have become much more important. These changes
have profound implications for the role played by developing
countered in the world economy and trade system.