Página 1 dos resultados de 261 itens digitais encontrados em 0.002 segundos

Development Policy Lending and Forest Outcomes : Influences, Interactions, and Due Diligence

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Português
Relevância na Pesquisa
36.66%
The revision of the forests Operational Policy (OP) 4.36 in the Bank, stems from discussions on this new approach about the concern raised that, while Bank sector investments would be guided by the new policy, Bank adjustment lending would not. As a result, the latter could, indirectly and inadvertently, lead to adverse impacts on forests and forest-dependent people. Thus it was clear an operational policy to guide due diligence in adjustment lending was necessary. Since adjustment lending at the time was evolving toward the Development Policy Lending (DPL) framework, a policy to guide the design and implementation of this form of operation was prepared, and has since been approved, issued as OP 8.60. This document asserts that it is clear that relatively large-scale economic changes can have significant impacts upon forests. However, there is great variability in outcomes in forests from such changes across the many different countries, and situations covered in the studies reviewed. Forest outcomes from major economic reform, targeting poverty alleviation and sustainable growth, will be highly dependent on prior conditions of the sector. An appropriate response in terms of DPL program design will therefore need to take these conditions into account. In this document...

Protecting the Poor Through Programmatic Adjustment Lending in Peru, Brazil and Colombia

Javier, Evangeline; Paqueo, Vicente; Rawlings, Laura B.; Rodriguez, Alberto
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Português
Relevância na Pesquisa
46.58%
Social reforms typically require long-term, incremental policy changes. Traditional World Bank (WB) funding for discrete investments or technical assistance often had little broad policy impact. Even sector adjustment loans tended to be too inflexible and short-term to support ongoing social reforms. Some countries needed new kinds of financial and technical assistance to sustain reforms during crisis and beyond. Recognizing the need for steady, incremental reforms combined with institution building, the WB introduced Programmatic Structural Adjustment Loans/Credits (PSAL/PSAC) in 1998. In the social arena, this instrument has provided fast-disbursing, flexible, multi-year support to help countries preserve their social safety nets during crises and strengthen them in the long run through capacity building and institutional reforms. In the Latin America and the Caribbean region, loans to Peru, Brazil, and Colombia illustrate how the new multi-sector social reform efforts have worked in practice.

Poverty Reduction Support Credits : An Evaluation of World Bank Support

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Português
Relevância na Pesquisa
36.64%
Poverty Reduction Support Credits (PRSCs) were intended to help countries implement comprehensive, country-owned development strategies to promote growth, improve social conditions, and reduce poverty. PRSCs were intended to ease conditionality, make annual flows to recipient countries predictable and integrated with their budgets, strengthen domestic budget processes, provide a framework for donor harmonization, and focus on achieving results. In terms of process, PRSCs have worked well. Findings show that they incorporated many envisaged changes in design and implementation. These include stronger country ownership, eased conditionality, and a shift of focus towards public sector management and pro-poor service delivery. PRSCs balanced tensions between predictability and program credibility. Although PRSCs differed from preceding adjustment loans, development policy lending today has converged towards a similar design. PRSCs today are subject to the same guidelines as other Development Policy Loans (DPLs). Differences remain in practice in terms of the association with PRSPs...

What Factors Appear to Drive Private Capital Flows to Developing Countries? And How Does Official Lending Respond?

Dasgupta, Dipak; Ratha, Dilip
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Português
Relevância na Pesquisa
46.47%
The authors study what drives private capital flows to developing countries, as well as the apparent response of official lending for the years 1978-97. Econometric results reveal that non-foreign direct investment portfolio flows to a country tended to rise in response to: 1) An increase in the current account deficit. 2) A rise in foreign direct investment flows. 3) Higher per capita income. 4) Growth performance. Once those variables were accounted for, private flows did not seem to be influenced by location, and regional factors. In addition, private capital flows (whether foreign direct investment or not) seem to respond positively (with a one-year lag) to World Bank lending commitments. By far the most important determinant of official lending to a developing country, seems to be the external current account balance, or a change in international reserves in the country. Official flows - including World Bank lending - appear to have played a stabilizing (or counter-cyclical) role in response to the volatility of private capital flows...

Republic of Tajikistan : Evaluation of the Poverty Reduction Strategy Paper Process and Arrangements Under the Poverty Reduction and Growth Facility

International Monetary Fund; World Bank
Fonte: Washington, DC Publicador: Washington, DC
Português
Relevância na Pesquisa
36.67%
The International Monetary Fund (IMF) and the World Bank introduced the Poverty Reduction Strategy Paper (PRSP) process in 1999 to strengthen the poverty alleviation focus of their assistance to low-income countries. This report reviews Tajikistan s experience with the PRSP process, focusing on the effectiveness of IMF and World Bank support to the process and the extent to which the two institutions lending and non-lending activities in the country are aligned to the objectives of the PRSP approach. The rest of the report is organized as follows. Part two provides brief background accounts of political and economic developments since independence in 1991, including poverty incidence in the late 1990s. The relevance of the PRSP approach, application of the underlying principles, and preliminary evidence on results, are examined in part three. Part four considers the effectiveness of World Bank support, including alignment of that support to the objectives of the PRSP approach. The effectiveness of IMF support, including alignment of programs supported under the Poverty Reduction and Growth Facility (PRGF) and its predecessor...

Lessons from Large Adjustment Loans; Ensenanzas recogidas de los prestamos para fines de ajuste de gran magnitud

Morrow, Daniel
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Brief; Publications & Research
Português
Relevância na Pesquisa
46.35%
This note presents the lessons from the assessments that are likely to be most useful to country directors, and task teams preparing new adjustment operations. The five adjustment loans (two in Argentina, and one each in Korea, Malaysia, and Russia) show that applying basic lessons is not always straightforward, however, and, sometimes involves making tradeoffs among Bank objectives. It is stipulated policy objectives are more likely to be achieved, if there is substantial borrower ownership. To this end, support for new policies should be established, towards generating broad political ownership, including engaging key players in incoming administrations, to help build ownership of reforms. Moreover, combined, the Bank's country knowledge and global expertise, can generate quality operations, that forge local partnerships, draws on prior experience, and maintains a minimum knowledge base. This is to say, setting priorities, and sequencing reforms should be carefully included during the design phase, with particular attention to avoid excessively broad conditionality...

Looking for More from Adjustment : Africa's Experience; Medidas para acentuar los beneficios derivados del ajuste : la experiencia recogida en Africa

Pape, Elizabeth
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Brief; Publications & Research
Português
Relevância na Pesquisa
56.9%
By the mid-1990s, after more than 15 years of adjustment lending, it had become clear that adjustment programs in Africa had not accelerated growth or reduced poverty, except in a handful of countries. The main reasons? Recipient governments did not "own" the reform programs, and they perceived the conditionality attached to the programs as being imposed on them. Adjustment programs were often unresponsive to country conditions and changes in external circumstances. In most cases the World Bank and recipient governments did not have a shared vision of what adjustment programs were supposed to achieve. In response to this diagnosis, in 1995 the Bank's Africa Region introduced the Higher Impact Adjustment Lending (HIAL) initiative. The initiative aimed to achieve a quicker, stronger, broader, and longer supply response from structural adjustment programs by: 1) increasing country selectivity and strengthening government ownership; 2) allowing more flexibility in adjustment operations--in particular, introducing new tranching mechanisms; and 3) introducing performance indicators to define expected results and assess actual outcomes. This note describes how the approach and design of these operations were adapted to achieve higher impact.

The Effect of International Monetary Fund and World Bank Programs on Poverty

Easterly, William
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
Relevância na Pesquisa
46.83%
Structural adjustment - as measured by the number of adjustment loans from the IMF, and the World Bank - reduces the growth elasticity of poverty reduction. The author finds no evidence for structural adjustment having a direct effect on growth. The poor benefit less from output expansion in countries with many adjustment loans, than they do in countries with few such loans. By the same token, the poor suffer less from an output contraction in countries with many adjustment loans, than in countries with few. Why would this be? One hypothesis is that adjustment lending is counter-cyclical, in ways that smooth consumption for the poor. There is evidence that some policy variables under adjustment lending are counter-cyclical, but no evidence that the cyclical component of those policy variables affects poverty. The author speculates that the poor may be ill placed to take advantage of new opportunities, created by structural adjustment reforms, just as they may suffer less from the loss of old opportunities in sectors that were artificially protected before reform. Poverty's lower sensitivity to growth under adjustment lending...

2001 Annual Review of Development Effectiveness : Making Choices

Battaile, William
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
Tipo: Publications & Research :: Publication; Publications & Research :: Publication
Português
Relevância na Pesquisa
36.75%
This is the fifth Annual Review of Development Effectiveness (ARDE). This year's Review highlights the choice of lending and non-lending instruments and activities to achieve development objectives. It complements the Annual Report on Portfolio Performance, the Quality Assurance Group's assessment of the active lending portfolio and of recent analytical and advisory services. As in prior years, the Review concentrates on long-term development effectiveness trends. It finds that selecting the right combination and sequence of activities for a particular set of objectives can make the difference between success and failure. The findings of the 2001 ARDE demonstrate sustained progress in portfolio performance and suggest several directions for future Bank operations. First, the ongoing updating of the policy framework for investment and adjustment lending offer a good opportunity to offer operational guidance and improve instrument choice. Second in poor performing low-income countries simple operations, pilot projects...

Assisting Russia's Transition : An Unprecedented Challenge

Zanini, Gianni
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
Tipo: Publications & Research :: Publication; Publications & Research :: Publication
Português
Relevância na Pesquisa
36.67%
The Country Assistance Evaluation (CAE) for Russia, covering the period 1992-2001, showed disappointing, but improving results for the Bank's activities in the Russian Federation. Despite unsatisfactory ratings during 1992-98, with only modest institutional development impacts, the Operations Evaluation Department (OED) rated the outcome satisfactory for the period 1998-01, and institutional development impacts as substantial. This paper reviews the decade of rapid political, and economic transformation, where obstacles to reform had to be surmounted, namely, state-owned institutions' need to focus on regulation and oversight; an economic structure more focused on comparative advantage; production and distribution systems' need to undergo organizational, and structural changes; while the newly created financial sector struggled through regulation, amidst a weak authority, and complex federal system. Yet, no major policy reversal occurred, and economic recovery is in place. The paper then examines from investment lending to the adjustment lending...

Assessing and Reforming Public Financial Management : A New Approach; Une nouvelle approache pour evaluer et reformer la gestion des depenses publiques

Allen, Richard; Schiavo-Campo, Salvatore; Columkill Garrity, Thomas
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
Tipo: Publications & Research :: Publication; Publications & Research :: Publication
Português
Relevância na Pesquisa
46.36%
This study is intended to help underpin a more coordinated, effective approach to assessing and reforming systems for public expenditure, procurement, and financial accountability in developing countries-especially countries that receive international aid for budget support. Such support, also known as adjustment lending, has become far more important in recent years. At the World Bank, for example, it increased from less than 10 percent of total assistance in the 1980s to about 50 percent in fiscal 2002. Many other development agencies are also increasing aid for budget support. This support has been accompanied by and reflects widespread recognition that aid is fungible and that resources can be transferred, so that aid intended for one project can effectively be used to finance another. Thus, efforts to safeguard the integrity of donor resources mean little without safeguards on the use of government resources. Moreover, growing awareness of the destructive effects of corruption -- emphatically underscored by the East Asian financial crisis of 1997-99 -- has given new urgency to donors' need to ensure that aid is not diverted to private ends or misallocated to activities not conducive to fostering growth and reducing poverty. For all these reasons it is important for donors and recipient governments alike that the strengths and weaknesses of national budget systems be well understood and that governments implement reforms where needed...

World Bank Lending for Lines of Credit : An IEG Evaluation

Independent Evaluation Group
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
Tipo: Publications & Research :: Publication; Publications & Research :: Publication
Português
Relevância na Pesquisa
36.58%
This evaluation provides an independent assessment of lines of credit financed by the World Bank during the period FY93-FY03. It is the first of a two-part evaluation looking at Bank support to the financial sector. The second part focuses on Bank support for financial sector reform. This volume presents data on trends in lending for lines of credit and examines whether the design, supervision, and reporting on lines of credit followed the Bank's policies. The evaluation examines outcomes, analyzes factors associated with satisfactory outcomes, and draws conclusions based on the analysis; the evaluation also presents recommendations for the future. The basis for this evaluation consists of a database developed by the Department of Independent Evaluation Group (IEG) on all lines of credit, a survey of the characteristics of a large sample of the projects at entry, during supervision, and at completion, plus information on cancellations and IEG project assessments. The methodology for the sample selection and survey instrument is described in appendix A. The evaluation also draws on a similar exercise carried out by the Consultative Group to Assist the Poor (CGAP) on microfinance lines of credit...

Brazil : Country Financial Accountability Assessment

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Country Financial Accountability Assessment; Economic & Sector Work
Português
Relevância na Pesquisa
46.71%
This Country Financial Accountability Assessment (CFAA) is also a "fiduciary" assessment, given it examines Brazil's Public Financial Management system, to form a judgment on the risk to Bank, and country funds within the Brazilian budget, and the level of accountability and transparency concerning such spending. Moreover, this CFAA will feed into the Bank's lending program, in particular a second Fiscal Reform and Structural Adjustment Loans in FY03. Partly reflecting the lack of a Public Expenditure Review, this CFAA also focuses on upstream budget development issues, including linkages with the government planning systems, as well as downstream budget execution issues. The Brazilian Government appears strongly committed to improving its public financial management, in particular, two major initiatives have been recently undertaken, which significantly impacts on public financial management: a) the Multi-Annual Plan for 2000-2003 adopted a new approach, aimed at improving resource allocation through a program-based approach covering all budget expenditures...

Recent Trends in Lending for Civil Service Reform

Manning, Nick; Mukherjee, Ranjana
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Brief; Publications & Research
Português
Relevância na Pesquisa
36.76%
The note assesses how the volume, distribution, structure, and objectives of Bank lending for civil service reform have changed in recent years. Bank operations in civil service reform usually refers to interventions that affect the organization, performance, and working conditions of employees paid by government budgets, but excludes reforms that affect police, the armed forces, public health care workers, public school teachers, and employees of state enterprises. Assessments of such reform are relevant in that they can also help countries improve governance, thus fostering good policy making, effective service delivery, and accountable resource use. Findings based on an Operations Evaluation Department's review of such lending, indicates a growing number of standalone civil service reform projects between 1980 and 1997. However, between fiscal 1999 and 2001, only 4 of 62 civil service reform interventions were standalone, being the rest components of major lending operations. The note further reviews the distribution of new lending...

Paraguay : Country Financial Accountability Assessment

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Country Financial Accountability Assessment; Economic & Sector Work
Português
Relevância na Pesquisa
46.55%
The issues addressed in this Country Financial Accountability Assessment (CFAA), lie at the very core of the Government of Paraguay's performance, and its fight against corruption. The outputs of the CFAA assess the Government's public financial management systems, practices and accountability arrangements, and address key issues in the sustainability of economic growth. The outputs of this report are also of particular importance at this time, given the need to ensure that quick disbursement funding, linked to adjustment lending operations by the two participating Banks, will be subject to adequate financial management arrangements. The strategic approach to improving public financial management in Paraguay, embodied in the Action Plan emerging from this CFAA, requires immediate action on two fronts. The first is to move towards establishing an adequate control environment; the second strategic priority is a stronger control function, both internal and external. This CFAA presents the standards, regulations...

World Bank Lending and Financial Sector Development

Cull, Robert; Effron, Laurie
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research; Publications & Research :: Policy Research Working Paper
Português
Relevância na Pesquisa
36.72%
Using a new database of World Bank loans to support financial sector development, the authors investigate whether countries that received such loans experienced more rapid growth on standard indicators of financial development than countries that did not. They account for self-selection with treatment effects regressions, and also use propensity score matching techniques. The authors' results indicate that borrowing countries had significantly more rapid growth in M2/GDP than non-borrowers, and swifter reductions in interest rate spreads and cash holdings (as a share of M2). Borrowers also had higher private credit growth rates than non-borrowers in treatment effects regressions, but not in standard panel regressions with fixed country effects. On the whole, however, the results indicate significant advantages for borrowers over non-borrowers in terms of financial development.

Adjustment in Africa : Update on Reversing Economic Decline in Sub-Saharan Africa; L'ajustement en Afrique : reexamen des conditions pour renverser le declin economique en Africque Sub-Saharienne

Jones, Christine W.
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Brief; Publications & Research
Português
Relevância na Pesquisa
46.7%
This study reviews the Bank's experience with adjustment lending to Sub-Saharan Africa (SSA), from FY80 to FY96. During this period, a total of 163 adjustment operations, for $15 billion have been approved to 37 countries. Of these, a total of 121 have already been evaluated at completion. The study is based on information from all the operations, both completed and ongoing. It focuses on the performance, outcomes, and impact at the country level. Performance is measured first in terms of compliance with conditionality in adjustment lending, and then an overall compliance rating is constructed for each country. The compliance rating is used to classify the countries into three groups: those with good, weak and poor compliance records. Design issues, most notably insufficient attention to borrower ownership, were already identified in the 1993 OED report on adjustment in SSA. The present study revisited and quantified the design issues identified in all of the 121 evaluations at completion. The detailed analysis of compliance with conditionality allows us to look at which types of policy reforms are more frequently included in adjustment operations...

Mitigating Risks in Power Reform : A New World Bank Lending Approach - Power Sector Reform in the Indian State of Haryana

Mostefai, Djamal
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Viewpoint; Publications & Research
Português
Relevância na Pesquisa
36.61%
The World Bank has agreed to support power sector reforms in Haryana with a new type of lending instrument--the adaptable program loan--recently approved by its board of directors. Under this approach, being applied for the first time, the Bank will provide a series of loans totaling US$600 million over eight to ten years, but will commit the loans only when the state government has reached agreed milestones. This approach allows the state government milestones--not the covenants of standard World Bank loans --to determine the timing of controversial actions. The flexibility is intended to improve the reform program's chances of success and avoid the stop-start lending pattern that has characterized the Bank's past lending to state electricity boards. This Note explains Haryana's reform strategy and how the adaptable program loan applies. Haryana's reform could have an important demonstration effect.

World Bank Lending and the Quality of Economic Policy

Smets, Lodewijk; Knack, Stephen
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
Relevância na Pesquisa
46.82%
This study investigates the impact of World Bank development policy lending on the quality of economic policy. It finds that the quality of policy increases, but at a diminishing rate, with the cumulative number of policy loans. Similar results hold for the cumulative number of conditions attached to policy loans, although quadratic specifications indicate that additional conditions may even reduce the quality of policy beyond some point. The paper measures the quality of economic policy using the World Bank's Country Policy and Institutional Assessments of macro, debt, fiscal and structural policies, and considers only policy loans targeted at improvements in those areas. Previous studies finding weaker effects of policy lending on macro stability have failed to distinguish loans primarily intended to improve economic policy from other loans targeted at improvements in sector policies or in public management. The paper also shows that investing in economic policy does not "crowd out" policy improvements in other areas such as public sector governance or human development. The results are robust to using alternative indicators of policy quality...

Correlates of Success in World Bank Development Policy Lending

Moll, Peter; Geli, Patricia; Saavedra, Pablo
Fonte: World Bank Group, Washington, DC Publicador: World Bank Group, Washington, DC
Tipo: Publications & Research; Publications & Research :: Policy Research Working Paper
Português
Relevância na Pesquisa
36.66%
This paper examines the correlates of success of development policy lending operations of the World Bank between 2004 and 2012. The paper uses a data set constructed of individual loan characteristics and ex-post loan ratings produced by the World Bank's Independent Evaluation Group. Departing from the related literature, the paper focuses mostly on examining the impact of loan characteristics, reform program design features, and task team leader skills, among other variables, on intended development results, while still controlling for country characteristics. It finds that a variable used to reflect congruence or "line of sight" between the policy reforms supported and the results framework is a critical ingredient for success. Task team leader skills in general, and task team leadership by staff affiliated with the former "Economic Policy" department of the World Bank, also increase the chance of success. Conversely, a weaker set of supported reforms in these operations tends to reduce the chance of success. Reforms supported in the energy sector seem to reduce the likelihood of success...