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Global Development Finance 2012 : External Debt of Developing Countries

World Bank
Fonte: World Bank Publicador: World Bank
Português
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46.75%
The data and analysis presented in this edition of global development finance are based on actual flows and debt related transactions for 2010 reported to the World Bank Debtor Reporting System (DRS) by 129 developing countries. The reports confirm that in 2010 international capital flows to developing countries surpassed preliminary estimates and returned to their pre-crisis level of $1.1 trillion, an increase of 68 percent over the comparable figure for 2009. Private capital flows surged in 2010 driven by a massive jump in short-term debt, a strong rebound in bonds and more moderate rise in equity flows. Debt related inflows jumped almost 200 percent compared to a 25 percent increase in net equity flows. The rebound in capital flows was concentrated in a small group of 10 middle income countries where net capital inflows rose by an average of nearly 80 percent in 2010, almost double the rate of increase (44 percent) recorded by other developing countries. These 10 countries accounted for 73 percent of developing countries gross national income (GNI)...

Strengthening Caribbean Pensions : Improving Equity and Sustainability

World Bank
Fonte: World Bank Publicador: World Bank
Português
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56.22%
This report aims to provide additional insights to existing analyses of public pension and social security schemes in the Caribbean. Such analyses have been undertaken with the support of the Inter-American Development Bank, the Caribbean Development Bank, the Canadian International Development Agency, the Economic Commission for Latin America, and the Caribbean and the International Social Security Association. By making cross-country comparisons within the region and across the world, this report will review fiscal vulnerability, sustainability, labor market efficiency, migration, financial market development, and other pension-related areas. Finally, governance and investment management should be strengthened by: (i) strengthening the governance structure, including authority and accountability of Board members; (ii) improving governance mechanisms with the assistance of external oversight and improved information disclosure; (iii) introducing codes of conduct for the governing body and management; and (iv) introducing a number of measures to strengthen the investment policies...

Bank Regulations Are Changing : For Better or Worse?

Barth, James R.; Caprio, Gerard, Jr.; Levine, Ross
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Português
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56.32%
This paper presents new and official survey information on bank regulations in 142 countries and makes comparisons with two earlier surveys. The data do not suggest that countries have primarily reformed their bank regulations for the better over the last decade. Following Basel guidelines many countries strengthened capital regulations and official supervisory agencies, but existing evidence suggests that these reforms will not improve bank stability or efficiency. While some countries have empowered private monitoring of banks, consistent with the third pillar of Basel II, there are many exceptions and reversals along this dimension.

Bank Competition and Financial Stability

Berger, Allen N.; Klapper, Leora F.; Turk-Ariss, Rima
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Português
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66.7%
Under the traditional "competition-fragility" view, more bank competition erodes market power, decreases profit margins, and results in reduced franchise value that encourages bank risk taking. Under the alternative "competition-stability" view, more market power in the loan market may result in greater bank risk as the higher interest rates charged to loan customers make it more difficult to repay loans and exacerbate moral hazard and adverse selection problems. But even if market power in the loan market results in riskier loan portfolios, the overall risks of banks need not increase if banks protect their franchise values by increasing their equity capital or engaging in other risk-mitigating techniques. The authors test these theories by regressing measures of loan risk, bank risk, and bank equity capital on several measures of market power, as well as indicators of the business environment, using data for 8,235 banks in 23 developed nations. The results suggest that - consistent with the traditional "competition-fragility" view - banks with a greater degree of market power also have less overall risk exposure. The data also provide some support for one element of the "competition-stability" view - that market power increases loan portfolio risk. The authors show that this risk may be offset in part by higher equity capital ratios.

How Does Deposit Insurance Affect Bank Risk? Evidence from the Recent Crisis

Anginer, Deniz; Demirguc-Kunt, Asli; Zhu, Min
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Português
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56.74%
Deposit insurance is widely offered in a number of countries as part of a financial system safety net to promote stability. An unintended consequence of deposit insurance is the reduction in the incentive of depositors to monitor banks, which leads to excessive risk-taking. This paper examines the relation between deposit insurance and bank risk and systemic fragility in the years leading to and during the recent financial crisis. It finds that generous financial safety nets increase bank risk and systemic fragility in the years leading up to the global financial crisis. However, during the crisis, bank risk is lower and systemic stability is greater in countries with deposit insurance coverage. The findings suggest that the "moral hazard effect" of deposit insurance dominates in good times while the "stabilization effect" of deposit insurance dominates in turbulent times. Nevertheless, the overall effect of deposit insurance over the full sample remains negative since the destabilizing effect during normal times is greater in magnitude compared with the stabilizing effect during global turbulence. In addition...

World Bank Research Digest, Vol. 4(4)

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Português
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56.25%
In this issue: Basel core principles and bank soundness; focus financial globalization: shifting balances; fiscal competition in developing countries; inheritance laws and womenapos;s empowerment in India; subjective well-being and the duration of unemployment; the automotive industry in developing countries; and social protection in Latin America: the unfinished revolution.

Maximizing the World Bank Group’s Impact in the Middle East and North Africa

World Bank Group
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Trabalho em Andamento
Português
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56.27%
This report provides an overview of the World Bank Group’s engagement in the Middle East and North Africa (MENA) region, highlighting the new operating model of the World Bank Group. In particular, the report provides insight on the key challenges and strategic engagement of each sector (Global Practice) in MENA and details some of the key cross-cutting challenges that countries face. This report serves as a basis to convene international thought leaders, as well as internal and external stakeholders, in the context of developing a new strategy for the Middle East and North Africa region later this year. The region faces three challenges in particular: (a) long-standing distortions that have generated jobless growth and poor service delivery as well as low financial access and inclusion; (b) severe imbalances that threaten macroeconomic stability; and (c) deep political and social tensions, at times escalating into violent conflict. The World Bank Group’s current engagement supports four key pillars: (a) strengthening governance; (b) ensuring economic and social inclusion; (c) creating jobs; and (d) accelerating sustainable growth. Progress on these pillars can be made through a two-pronged approach focused on addressing the immediate needs arising from humanitarian crises throughout the region while also giving sustained attention to the investments and reforms needed for medium- and long-term development. This two-pronged approach is necessary to help governments cope with immediate pressures on already fragile institutions and at the same time develop long-term strategies to address deep-seated issues that have hindered inclusive growth and prosperity for decades. This report details nine specific cross-cutting challenges: climate change; decentralization; disaster risk management; fragility...

Financial Mechanisms for Clean Energy in Small Island Developing States

World Bank Group
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Report; Economic & Sector Work; Economic & Sector Work :: Investment Climate Assessment
Português
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56.74%
This report explores the potential financing mechanism options that can be employed to catalyze more private sector investment in clean energy (renewable energy and energy efficiency) in the small island developing states (SIDS). Various financial instruments that have been used successfully to date are described and placed in the context of the issues and constraints of the SIDS, with suggested options for discussion and follow up. Green infrastructure finance, as defined in the report, makes the important point that is the combination of financial and nonfinancial interventions and instruments that can make green investments in infrastructure more affordable and less risky to private sponsors, financial markets, and governments. The objective of this report is to identify and assess options that can help increase investment in renewable energy and energy efficiency in SIDS through the adoption and funding of financing mechanisms by SIDS and development partners with special attention given to the role that the private sector can play. Many renewable energy technologies are characterized by high initial capital costs with relatively low operating costs compared to thermal alternatives. By providing an analysis of options for a financing facility to catalyze renewable energy and energy efficiency...

Public Expenditure Review of the Education Sector in the Democratic Republic of Congo; Revue des dépenses publiques du secteur de l’éducation en République Démocratique du Congo : une analyse d’efficience, d’efficacité, et d’équité; An Efficiency, Effectiveness, and Equity Analysis

World Bank Group
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Report; Economic & Sector Work :: Public Expenditure Review; Economic & Sector Work
Português
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56.31%
A sound education sector is fundamental for the economic, social, and political transformation of the Democratic Republic of Congo (DRC). The DRC has achieved significant progress in its education sector over the last decade, demonstrating strong resilience following a particularly violent period in its history. The DRC’s development trajectory will depend on its ability to reap the benefits of it resource-rich territory, which will require large investments in human capital to transition to an economy based on improved productivity, innovation, and technology. The DRC’s population has a very large youth cohort and reaping the benefits of the demographic dividend requires ensuring that sufficient funding is allocated to address priority issues at all levels of education. The three tenets of education investments can be summarized as follows: invest early, invest smartly, and invest for all. This report is organized into following sections: section one gives introduction, section two discusses the country context in terms of demographic dividends and available fiscal space for increasing social sector demand. Section three provides an overview of the education sector context including a chronological order of education sector policies...

World Bank Group and World Bank Corporate Scorecards, October 2015

World Bank Group
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Report; Publications & Research; Publications & Research :: Annual Report
Português
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56.57%
In July 2013, the World Bank Group launched its Strategy, outlining how it will partner more effectively with clients to help them achieve the ambitious goals of eradicating extreme poverty and boosting shared prosperity through economic growth, inclusion, sustainability and resilience. In April 2014, the World Bank Group Corporate Scorecard was launched for the first time and the World Bank Scorecard revised to monitor the implementation of the strategy. The World Bank Group Scorecard provides view of the results and performance indicators of the three World Bank Group institutions: the World Bank (WB), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA). This brochure presents the scorecards, updated with the latest data available in fiscal year 2015. The scorecards are structured in three tiers. A tier one and two presents indicators monitoring aspects of growth, inclusiveness, and sustainability and resilience. Tier three captures the progress in implementing the World Bank Group strategy and includes measures of both operational and organizational effectiveness.

World Bank East Asia and Pacific Economic Update 2010, Volume 2 : Robust Recovery, Rising Risks

World Bank
Fonte: World Bank Publicador: World Bank
Tipo: Publications & Research :: Publication
Português
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56.61%
Output has recovered to above pre-crisis levels throughout developing East Asia and, in some countries, is expanding at near pre-crisis rates. Real Gross Domestic Product (GDP) is likely to rise 8.9 percent in the region in 2010, up from 7.3 percent in 2009 and in line with the average growth rate during 2000-08. Economic expansion is projected to slow to about 7.8 percent in 2011, as spare capacity becomes scarce, fiscal and monetary stimulus measures are gradually unwound, and economic growth in the advanced economies remains relatively flat. Encouragingly, the private sector is once again becoming the engine of growth, confidence is returning, and trade flows have returned to pre-crisis levels. But the recovery so far has generated little incremental manufacturing employment in some of the middle-income countries. With output gaps closing rapidly and private investment recovering strongly, the authorities in most East Asian countries are unwinding their stimulus measures. Finally, a more consistent application of policy incentives for investment and growth across space is called for...

Bank Ownership and Lending Patterns during the 2008-2009 Financial Crisis : Evidence from Latin America and Eastern Europe

Cull, Robert; Martínez Pería, María Soledad
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
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56.62%
This paper examines the impact of bank ownership on credit growth in developing countries before and during the 2008-2009 crisis. Using bank-level data for countries in Eastern Europe and Latin America, it analyzes the growth of banks' total gross loans as well as the growth of corporate, consumer, and residential mortgage loans. Although domestic private banks in Eastern Europe and Latin America contracted their loan growth rates during the crisis, there are differences in foreign and government-owned bank credit growth across regions. In Eastern Europe, foreign bank total lending fell by more than domestic private bank credit. These results are primarily driven by reductions in corporate loans. Furthermore, government-owned banks in Eastern Europe did not act counter-cyclically. The opposite was true in Latin America, where the growth of government-owned banks' corporate and consumer loans during the crisis exceeded that of domestic and foreign banks. Contrary to the case of foreign banks in Eastern Europe...

Côte d'Ivoire; The World Bank Group Country Opinion Survey FY 2014

World Bank Group
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Report; Publications & Research; Publications & Research :: Working Paper
Português
Relevância na Pesquisa
56.4%
The Country Opinion Survey in Côte d’Ivoire assists the World Bank Group (WBG) in gaining a better understanding of how stakeholders in Côte d’Ivoire perceive the WBG. It provides the WBG with systematic feedback from national and local governments, multilateral/bilateral agencies, media, academia, the private sector, and civil society in Côte d’Ivoire on 1) their views regarding the general environment in Côte d’Ivoire; 2) their overall attitudes toward the WBG in Côte d’Ivoire; 3) overall impressions of the WBG’s effectiveness and results, knowledge work and activities, and communication and information sharing in Côte d’Ivoire; and 4) their perceptions of the WBG’s future role in Côte d’Ivoire.

Corporate Governance and Bank Insolvency Risk : International Evidence

Anginer, Deniz; Demirguc-Kunt, Asli; Huizinga, Harry; Ma, Kebin
Fonte: World Bank Group, Washington, DC Publicador: World Bank Group, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
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46.78%
This paper finds that shareholder-friendly corporate governance is positively associated with bank insolvency risk, as proxied by the Z-score and the Merton's distance to default measure, for an international sample of banks over the 2004-08 period. Banks are special in that "good" corporate governance increases bank insolvency risk relatively more for banks that are large and located in countries with sound public finances, as banks aim to exploit the financial safety net. Good corporate governance is specifically associated with higher asset volatility, more nonperforming loans, and a lower tangible capital ratio. Furthermore, good corporate governance is associated with more bank risk-taking at times of rapid economic expansion. Consistent with increased risk-taking, good corporate governance is associated with a higher valuation of the implicit insurance provided by the financial safety net, especially in the case of large banks. These results underline the importance of the financial safety net and too-big-to-fail policies in encouraging excessive risk-taking by banks.

West Bank and Gaza - Improving Governance and Reducing Corruption

World Bank
Fonte: World Bank Publicador: World Bank
Tipo: Economic & Sector Work :: City Development Strategy (CDS)
Português
Relevância na Pesquisa
56.34%
In the past decade, the Palestinian Authority (PA) has worked to strengthen economic governance and combat corruption, both essential to sustained economic growth and improved delivery of public services. This report finds the PA has made significant progress in its public institutions, establishing a strong governance environment in many critical areas. But it also identifies areas where reforms are underway but incomplete or, in some areas, not yet under consideration. Major reforms have been put in place to strengthen the PA's public financial management (PFM) systems and better manage its equity holdings, two crucial components in the public finance sector. In other important areas, such as public procurement, public sector employment, regulation of the private sector, and the work of anti-corruption institutions, reforms are underway but have not been fully implemented. This analysis relies on an understanding of the relationship between good economic governance, public service delivery, and corruption. Studies show a direct correlation between weak governance systems and the quality of public service delivery. Weak governance systems...

Argentina : Gender Equity in the Private Sector; Argentina - Equidad de genera en el sector privado

World Bank
Fonte: World Bank Publicador: World Bank
Tipo: Economic & Sector Work :: Country Gender Assessment (CGA)
Português
Relevância na Pesquisa
56.57%
First tested in Mexico in 2003, and most recently applied in 2009 in Argentina, the World Bank has developed a model to incorporate gender equity into private sector organizations while simultaneously enhancing their business. Under the model, participating organizations conduct a self-diagnosis to identify gender biases and gaps in the operations. This baseline is then used to create and subsequently implement an action plan to address these gender inequalities in their organization. Successful application of this gender equity model is certified by an independent auditing agency and the firm is awarded a seal they can publicly use and display, enhancing their reputation. Since the first experience in Mexico, the model has been adapted to fit other countries' realities, and each experience has improved the tools and process of the model. This paper summarizes the World Bank's experiences with the gender equity certification model and explores the primary features and factors of success through careful examination of the most recent application in Argentina. The successful experiences and ease of adaptability of the model point towards the feasibility of applying this model as standard World Bank "brand" certifiable international Gender Equity Model...

West Bank and Gaza : Report on the Observance of Standards and Codes - Accounting and Auditing

World Bank
Fonte: World Bank Publicador: World Bank
Tipo: Economic & Sector Work :: Accounting and Auditing Assessment (ROSC)
Português
Relevância na Pesquisa
56.23%
This Report on the Observance of Standards and Codes for Accounting and Auditing (ROSC A&A) is a part of the World Bank (WB) and International Monetary Fund (IMF) joint initiative to review countries use of 12 internationally recognized standards/codes related to economic stability and private and financial sector development, including evaluating the country's accounting and auditing practices based on internationally recognized benchmarks and, based on that review, to make policy recommendations to help it bridge the gaps between current practices and those considered adequate. ROSC policy recommendations are intended to help strengthen a country's financial architecture, attract more foreign direct investment and foreign portfolio investment, and mobilize domestic savings, which, in turn, would allow for pension savings. In addition, improved financial reporting allows investors to better evaluate corporate prospects and make informed investment and voting decisions, which results in a lower cost of capital and a better allocation of capital and resources. Financial reporting is also the bedrock of corporate governance...

A Guide to the World Bank : Third Edition

World Bank
Fonte: World Bank Publicador: World Bank
Tipo: Publications & Research :: Publication; Publications & Research :: Publication
Português
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56.67%
This guide introduces the reader to the conceptual work of the World Bank Group. Its goal is to serve as a starting point for more in-depth inquiries into subjects of particular interest. It provides a glimpse into the wide array of activities in which the Bank Group institutions are involved, and it directs the reader toward other resources and websites that have more detailed information. This new, updated third edition of a guide to the World Bank provides readers with an accessible and straightforward overview of the Bank Group's history, organization, mission, and work. It highlights the numerous activities and an organizational challenge faced by the institution, and explains how the Bank Group is reforming itself to meet the needs of a multipolar world. The book then chronicles the Bank Group's work in such areas as climate change, financial and food crises, conflict prevention and fragile states, combating corruption, and education. For those wishing to delve further into areas of particular interest...

A Guide to the World Bank : Second Edition; Una guia del Banco Mundial : segunda edicion

World Bank
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
Tipo: Publications & Research :: Publication; Publications & Research :: Publication
Português
Relevância na Pesquisa
56.29%
Conceived in 1944 to reconstruct war-torn Europe, the World Bank Group has evolved into one of the world's largest sources of development assistance, with a mission of fighting poverty with passion by helping people help themselves. This book guides the reader into the conceptual work of the World Bank Group. Its goal is to serve as starting point for more in-depth inquiries into subjects of particular interest. It provides a glimpse into the wide array of activities in which the Bank Group institutions are involved, and it directs the reader toward other publications and to Web sites that have more detailed information. The following chapters explain how the World Bank Group is organized; how it operates; and how its work focuses on countries, regions, and specific topics in development. Appendixes provide further information on Bank Group contacts, on the organization's history, and on country membership and voting shares in the institutions.

Angola : Oil, Broad-Based Growth, and Equity

World Bank
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
Tipo: Publications & Research :: Publication; Publications & Research :: Publication
Português
Relevância na Pesquisa
56.22%
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...