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We analyze how a wealth shift to emerging countries may lead to instability in developed countries. Investors exposed to expropriation risk are willing to pay a safety premium to invest in countries with good property rights. Domestic intermediaries compete for such cheap funding by carving out...
Persistent link: https://www.econbiz.de/10011304762
What major insights have emerged from development economics in the past decade, and how do they matter for the World … Bank? This challenging question was recently posed by World Bank Group President David Malpass to the staff of the …
Persistent link: https://www.econbiz.de/10012842639
This paper reports on the latest update of the Worldwide Governance Indicators (WGI) research project, covering 212 countries and territories and measuring six dimensions of governance between 1996 and 2007: Voice and Accountability, Political Stability and Absence of Violence/Terrorism,...
Persistent link: https://www.econbiz.de/10012723979
This paper describes the methodology for a new World Bank Human Capital Index (HCI). The HCI combines indicators of …
Persistent link: https://www.econbiz.de/10012910533
Recent evidence suggests only modest social and economic impacts of microfinance. Favorable cost-benefit ratios then depend on low costs. This paper uses proprietary data on 1,335 microfinance institutions between 2005 and 2009, jointly serving 80.1 million borrowers, to calculate the costs of...
Persistent link: https://www.econbiz.de/10012968214
This paper revisits four recent cross-country empirical studies on the effects of inequality on growth. All four studies report strongly significant negative effects, using the popular system generalized method of moments estimator that is frequently used in cross-country growth empirics. This...
Persistent link: https://www.econbiz.de/10012970632
A number of recent studies have empirically documented links between characteristics of World Bank projects and their … ultimate outcomes as evaluated by the World Bank's Independent Evaluation Group. This paper explores the in-sample and out … project. Such models perform better than self-assessments of project performance provided by World Bank staff during the …
Persistent link: https://www.econbiz.de/10012972899
Social welfare functions that assign weights to individuals based on their income levels can be used to document the relative importance of growth and inequality changes for changes in social welfare. In a large panel of industrial and developing countries over the past 40 years, most of the...
Persistent link: https://www.econbiz.de/10012973293
-case, "pessimistic," path to that goal would see the developing world outside China returning to its slower pace of growth and poverty … of the time series data and non-linear simulations of inequality-neutral growth for the developing world as a whole …
Persistent link: https://www.econbiz.de/10012974682
Against what standards should we judge the developing world's overall performance against poverty going forward? The … about a 1 percentage point higher growth rate for the gross domestic product of the developing world, as long as this did …
Persistent link: https://www.econbiz.de/10012974972