The importance of transport corridors for trade and development, including for some of the poorest countries in the world, is widely recognized in this book. A new consensus has also emerged that reducing trade costs and improving access to corridors is not just a matter of building...

Community-based natural resource management (CBRNM) aims to realize sustainable management of resources and improvements in livelihood. A central focus is the empowerment of indigenous and local communities through customary or devolved rights to common pool resources. Less attention is given to...

This document has been produced by the World Bank to support the Government of Guatemala as it improves its transport and logistics sector management in pursuit of enhanced country competitiveness. It identifies and defines elements of a National Transport and Logistics Strategy (NTLS) through...

The martingale hypothesis is tested for 15 European emerging stock markets located in Croatia, the Czech Republic, Estonia, Hungary, Iceland, Latvia, Lithuania, Malta, Poland, Romania, Russia, the Slovak Republic, Slovenia, Turkey and the Ukraine. For comparative purposes, the developed stock...

The weak form of the efficient markets hypothesis is tested for eight African stock markets using three finite-sample variance ratio tests. A rolling window captures short-horizon predictability, tracks changes in predictability and is used to rank markets by relative predictability. These stock...

The hypothesis that stock futures follow a random walk is tested for four stock index futures and a sample of 36 single stock futures traded on the JSE Securities Exchange, South Africa, using joint variance ratio tests based on "(i)" ranks and signs and "(ii)" wild bootstrapping. Overall, there...