Download or read book Trade Reform Design as a Signal for Foreign Investors written by Eric Bond and published by . This book was released on 1995 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: The design of trade policy reform can encourage or discourage foreign direct investment by revealing the government's commitment to protect the interests of foreign investors. The optimal policy is analyzed under four scenarios. These involve whether th2e investment is reversible or not, and whether government preferences are or are not initially known by foreign investors. A few years ago, many Western companies were eager to consider investing in Eastern Europe and, more recently, in South Asia, where ongoing reform, large domestic markets, and cheap but qualified labor are transforming the region into a potentially fierce competitor for foreign direct investment (FDI). Although this growing interest was reflected in large commitments by foreign investors in countries announcing major FDI reforms, actual disbursements have been modest. This reflects the investors' concern about the credibility of governments' long-term commitment to change. The credibility of policy announcements is important to investors because the returns from the sunk investment can be affected by later changes in policy. To reduce investors' concern, governments can send clear signals to show their commitment to change. The achievements of trade reform can be an effective indicator of a government's commitment to change as indicated by the strong correlation between increases in trade flows and increases in FDI disbursements. Bond, Chiu, and Estache examine how countries can design trade reform to speed up increases in trade. Countries can tailor their commitment to reform to foreign investors by targeting the design of these instruments to the source of their credibility problem. Governments face two credibility problems: (1) investors know the current government's policy preferences (whether they are protectionist or free trade-oriented) but ignore those preferences if the government will later have an incentive to change its position, and (2) investors are uncertain about actual government preferences and have reason to doubt the government's commitment to a reform program. The model presented in the paper shows that the recommendations in favor of free trade prevail when investors know the government's preferences and the government is able to lock itself into its commitment to change. But in the most realistic scenario in which investors do not know the government's preferences and the policymakers cannot otherwise demonstrate their commitment to reform, a government actually committed to change may want to signal this commitment by subsidizing investments or imports if it wants to be competitive in the market for FDI. In this model, the quickest way to attract FDI is through an investment subsidy, but it is also the most costly.
Download or read book Trade Reform Design as a Signal to Foreign Investors written by Antonio Estache and published by . This book was released on 2016 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: The design of trade polic ...
Download or read book Designing Trade Reform as a Signal to Foreign Investors written by Eric Bond and published by World Bank Publications. This book was released on 1995 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book New Voices in Investment written by Maria Laura Gómez Mera and published by World Bank Publications. This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study analyzes the characteristics, motivations, strategies, and needs of FDI from emerging markets. It draws from a survey of investors and potential investors in Brazil, India, South Korea, and South Africa.
Download or read book International Friction and Cooperation in High Technology Development and Trade written by National Research Council and published by National Academies Press. This book was released on 1997-10-10 with total page 451 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Trade policies Macroecononomic Adjustment and Manufacrured Exports written by Sarath Rajapatirana and published by World Bank Publications. This book was released on 1995 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Agricultural Trade Liberalization in the Uruguay Round written by Merlinda D. Ingco and published by World Bank Publications. This book was released on 1995 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Comparative Corporate Governance written by Afra Afsharipour and published by Edward Elgar Publishing. This book was released on 2021-06-25 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research handbook provides a state-of-the-art perspective on how corporate governance differs between countries around the world. It covers highly topical issues including corporate purpose, corporate social responsibility and shareholder activism.
Download or read book Arc Partner country Statistics Useful for Estimating Missing Trade Data written by J. Alexander Yeats and published by World Bank Publications. This book was released on 1999 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Because many developing countries fail to report trade statistics to the United Nations, there has been an interest in using partner-country data to fill these information gaps. The author used partner-country statistics for 30 developing countries to estimate actual (concealed) trade data and analyzed the magnitude of the resulting errors. The results indicate that partner-country data are unreliable even for estimating trade in broad aggregate product groups such as foodstuffs, fuels, or manufactures. Moreover, tests show that the reliability of partner-country statistics degenerates sharply as one moves to more finely distinguished trade categories (lower-level SITCs). Equally disturbing, about one-quarter of the partner-country comparisons take the wrong sign. That is, one country's reported free-on-board (f.o.b.) exports exceed the reported cost-insurance-freight (c.i.f.) value of partners' imports. Aside from product composition, tests show that partner-country data are equally inaccurate for estimating the direction of trade. Why are partner-country data so unreliable for approximating missing data? Evidence shows: 1) problems in reporting or processing COMTRADE data; 2) valuation differences (f.o.b. versus c.i.f.) for imports and exports; 3) problems relating to entrepot trade, or exports originating in export processing zones; 4) problems associated with exchange-rate changes; 5) intentional or unintentional misclassification of products; 6) efforts to conceal trade data for proprietary reasons; and 7) financial incentives to purposely falsify trade data. The author concludes that efforts to improve the general quality, or availability, of trade statistics using partner-country data holds little or no promise, although this information may be useful in specific cases where the trade statistics of a certain country are known to incorporate major errors. Significant progress in ugrading the accuracy, and coverage, of trade statistics can be achieved only by improving each country's procedures for data collection.
Download or read book Reviving Project Appraisal at the World Bank written by Shantayanan Devarajan and published by World Bank Publications. This book was released on 1995 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Investment Climate Reforms written by World Bank World Bank and published by World Bank Publications. This book was released on 2015-11-02 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private firms are at the forefront of the development process, providing more than 90 percent of jobs, supplying goods and services, and representing a significant source of tax revenues. Their ability to grow, create jobs, and reduce poverty depends critically on a well-functioning investment climate--defined as the policy, legal, and institutional arrangements underpinning the functioning of markets and the level of transaction costs and risks associated with starting, operating, and closing a business. The World Bank Group has provided extensive support to investment climate reforms. This evaluation by the Independent Evaluation Group (IEG) assesses the relevance, effectiveness, and social value of World Bank Group support to investment climate reforms as it relates to concerns for inclusion and shared prosperity. IEG finds that the World Bank Group has supported a comprehensive menu of investment climate reforms and has improved investment climate in countries, as measured by number of laws enacted, streamlining of processes and time, or simple cost savings for private firms. However, the impact on investment, jobs, business formation, and growth is not straightforward. Regulatory reforms need to be designed and implemented with both economic and social costs and benefits in mind; IEG found that, in practice, World Bank Group support focuses predominantly on reducing costs to businesses. In supporting investment climate reforms, the World Bank and the International Finance Corporation use two distinct but complementary business models. Despite the fact that investment climate is the most integrated business unit in the World Bank Group, coordination is mostly informal, relying mainly on personal contacts. IEG recommends that the World Bank Group expand its range of diagnostic tools and integrate them in the areas of the business environment not yet covered by existing tools; develop an approach to identify the social effects of regulatory reforms on all groups expected to be affected by them beyond the business community; and exploit synergies by ensuring that World Bank and IFC staff improve their understanding of each other's work and business models.
Download or read book The Dynamics of Poverty written by Ravi Kanbur and published by World Bank Publications. This book was released on 2016 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: August 1995 - In urban areas of Côte d'Ivoire, human capital is the endowment that best explains welfare changes over time. In rural areas, physical capital - especially the amount of land and farm equipment owned - matters most. Empirical investigations of poverty in developing countries tend to focus on the incidence of poverty at a particular point in time. If the incidence of poverty increases, however, there is no information about how many new poor have joined the existing poor and how many people have escaped poverty. Yet this distinction is of crucial policy importance. The chronically poor may need programs to enhance their human and physical capital endowments. Invalids and the very old may need permanent (targeted) transfers. The temporarily poor, on the other hand, may best be helped with programs that complement their own resources and help them bridge a difficult period. Results from analyses of panel surveys show significant mobility into and out of poverty and reveal a dynamism of the poor that policy should stimulate. Understanding what separates chronic from temporary poverty requires knowing which characteristics differentiate those who escape poverty from those who don't. In earlier work, Grootaert, Kanbur, and Oh found that region of residence and socioeconomic status were important factors. In this paper they investigate the role of other household characteristics, especially such asset endowments as human and physical capital, in the case of Côte d'Ivoire. In urban areas of Côte d'Ivoire, human capital is the most important endowment explaining welfare changes over time. Households with well-educated members suffered less loss of welfare than other households. What seems to have mattered, though, is the skills learned through education, not the diplomas obtained. Diplomas may even have worked against some households in having oriented workers too much toward a formal labor market in a time when employment growth came almost entirely from small enterprises. In rural areas, physical capital - especially the amount of land and farm equipment owned - mattered most. Smallholders were more likely to suffer welfare declines. Households with diversified sources of income managed better, especially if they had an important source of nonfarm income. In both rural and urban areas, larger households suffered greater declines in welfare and households that got larger were unable to increase income enough to maintain their former welfare level. Households whose heads worked in the public sector maintained welfare better than other households, a finding that confirms earlier observations. The results also suggest that government policies toward certain regions or types of household can outweigh the effects of household endownments. Surprisingly, migrant non-Ivorian households tended to be better at preventing welfare losses than Ivorian households, while households headed by women did better than those headed by men (after controlling for differences in or changes in endowment). The implications for policymakers? First, education is associated with higher welfare levels and helps people cope better with economic decline. Second, targeting the social safety net to larger households - possibly through the schools, to reach children - is justified in periods of decline. Third, smallholders might be targeted in rural areas, and ways found to encourage diversification of income there. This paper - a joint product of the Social Policy and Resettlement Division, Environment Department, and the Africa Regional Office, Office of the Chief Economist - is the result of a research project on The Dynamics of Poverty: Why Some People Escape Poverty and Others Don't, A Panel Analysis for Côte d'Ivoire (RPO 678-70).
Download or read book Integration and Transition in Europe written by Grzegorz Gorzelak and published by Routledge. This book was released on 2013-01-11 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: International line up of contributors Tackles the big issues facing Europe eg. north - south and east - west divides Chapters incorporate specific case studies with broader European analysis
Download or read book Active Labour Market Policies in the Oecd and in Selected Transition Economies written by Hartmut Lehmann and published by World Bank Publications. This book was released on 1995 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Effectiveness of Tax Incentives in Attracting Foreign Direct Investment in Uganda written by David Lameck Kibikyo and published by . This book was released on 2000 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Decentralized Rural Development and Enhanced Community Participation written by and published by World Bank Publications. This book was released on 1995 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Doing Business 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-21 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
