This paper investigates the role of fiscal guarantees in promoting infrastructure investment. Infrastructure is a critical driver of economic growth, but infrastructure entails significant up-front costs that yield benefits after a time lag. Investors hesitate to put their money down on private...

The extent to which local communities benefit from commodity booms has been subject to wide but inconclusive investigations. This paper draws from a new district-level database to investigate the local impact on socioeconomic outcomes of mining activity in Peru, which grew almost twentyfold in...

Business training programs are a popular policy option to try to improve the performance of enterprises around the world. The last few years have seen rapid growth in the number of evaluations of these programs in developing countries. This paper undertakes a critical review of these studies...

The majority of firms in most developing countries are informal. The authors of this paper conducted a field experiment in Sri Lanka that provided incentives for informal firms to formalize. Offering only information about the registration process and reimbursement for direct registration costs...

Although Kenya's financial system is by far the largest and most developed in East Africa and its stability has improved significantly over the past years, many challenges remain. This paper assesses the stability, efficiency, and outreach of Kenya's banking system, using aggregate, bank-level,...

Nearly one billion people worldwide live in rural areas without access to the paved road network. This paper measures the impacts of India's $40 billion national rural road construction program using regression discontinuity and data covering every individual and firm in rural India. The main...

Many countries spend significant resources on investment promotion agencies in the hope of attracting inflows of foreign direct investment. Despite the importance of this question for public policy choices, little is known about the effectiveness of investment promotion efforts. This study uses...

This paper contributes to better understanding firms' discriminatory behavior in the presence of gender-based legal discrimination and its linkages with labor market outcomes for women in a developing country setting. Using data collected through the World Bank Enterprise Surveys in the...

This study aims to understand women's engagement in economic activities in rural Honduras and why these activities may not be accurately reflected in official statistics. The study finds that women underreport their engagement in economic activities, including production for own consumption,...

This paper explores the link between the prevalence of violent conflicts and extremely low female labor force participation rates in South Asia. The Labor Force Surveys from Bangladesh, Sri Lanka, India, and Pakistan are merged with the Global Terrorism Database to estimate the relationship...