| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 433-450 |
| Abstraksi Narasi | : | Economic theory and recent empirical work suggest that when formal regulation of pollution is absent or less than 100 percent effective, affected communities are often able to negotiate abatement from plants in their vicinity through "informal regulation." Using a model of equilibrium pollution, this article confirms the existence of significant informal regulation for unregulated pollutants in both Indonesia and the United States as well as for regulated pollutans in the United States. Combining plant-level data with community data in both countries, regressions reveal that even after controlling for traditional economic variables such as output levels and input prices as well as for plant characteristics such as industrial sector and age, the per capita income of affected communities significantly affect pollution intensities. Higher-income communities win significantly lower emissions in both countries and for both unregulated pollutants in the United States, presumably because income affects both preferences for environtmental quality and the ability to bring pressure on polluting factories. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 471-487 |
| Abstraksi Narasi | : | The growth in exports from Central and Eastern Europe to Western markets suggests that enterpreneurs have responded to changed incentives by restructuring their production to capture new markets. The absence of change in the structure of exports, however, suggests that these restructuring efforts have not been significant. This article analyzes the magnitude of the change in export structure across the Central and Eastern European countries in 1990-95, focusing in particular on trade with the European Union. It finds that imports of intermediate inputs and machinery are an important determinant of the changes in export structure. Sourcing of inputs from abroad is a major factor underlying the expansion of exports to the European Union. Outward processing (subcontracting) arrangements and foreign direct investment have a smaller impact. Except for Poland, inflows of foreign direct investment are statistically insignificant or negatively associated with measures of revealed comparative advantage. This suggests that foreign investors have chosen sectors in which the Central and Eastern European countries were not relatively specialized under central planning. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 451-470 |
| Abstraksi Narasi | : | This article focusses on the determinants of the large portfolio flows from the United States to latin American and Asian countries during 1988-92. Cointegration techniques reveal that both domestic and global factors explain bond and equity flows to developing countries and represent significant long-run determinants of portfolio flows. The article also investigates the dinamics of portfolio flows by estimating seemingly unrelated error-correction models. Global and country-specific factors are equally important in determining the long-run movements in equity flows for both Asian and Latin American countries, while global factors are much more important than domestic factors in explaining the dynamics of bond flows. U. S. interest rates are a particularly important determinant of the short-run dynamics of portfolio, especially bond, flows to developing countries. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 491-513 |
| Abstraksi Narasi | : | Privatization of state-owned assets was a central economic reform of the 1980s and 1990s. Lack of data has made it impossible to judge the extent to which privatization has diminished the importance of state ownership in the economy or changed the performance of state-owned enterprises. This article introduces a new data base on state-owned enterprises, the first sincethe mid-1980s, which partly fills this information gap. The Bureaucrats in Business data base provides time-series data for up to 88 countries on the share of state enterprises in the overall economy, investment, employment, and internal and external credit as well as their overall surplus or deficit and the size of transfers to and from national treasuries. The article presents the rationale for the data base, describes its seven measures of state enterprises size and performance, and explores possible uses of the information. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 357-382 |
| Abstraksi Narasi | : | It has been claimed that in recent times the poor have lost ground, bot relatively and absolutely, even when average levels of living have risen. THis article tests that claim using household surveys for 67 developing and tranitional econopmies over 1981-94. It finds that changes ininequality and polarization were uncorrelated with changes in average living standards. Distribution improved as often as it worsened in growing economies, and negative growth was often more detrimental to distribution than positive growth. Overall, there was a small decrease in absolute poverty, although with diverse experiences across regions and countries. Almost always, poverty, although with diverse experiences across regions and countries. Almost always, poverty fell with growth in average living standards and rose with contraction. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 243-262 |
| Abstraksi Narasi | : | A useful means for achieving efficient allocation of irrigation water is to put the right price tag on it. This article discusses some of the more pervasive pricing methods and compares their efficiency performance, paying special attention to the impact of the cost of implementation each method on its efficiency. The article uses an empirical example to demonstrate numerically the relative efficiency of the different pricing methods and the important role of implementation costs. The volumetric, output, input, tiered, and two-part tariff methods all can achieve efficiency, although the type of efficiency varies from one method to another. These methods also differ in the amount and type information, and the administrative cost, needed in their implementation. The example indicates that water pricing methods are most pronounced through their effect on the cropping pattern-more so than through their effect on water demand for a given crop. Implementation cost have a large effect on water tariffs and on welfare and hence should have an important role in determining the desirable method to use in any given water situation. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 327-355 |
| Abstraksi Narasi | : | Why are economic reforms reversed through strikes and demonstrations in some countries, but backed by the labor movement in the other countries? Why do product and labor market distortions differ so much across countries? This article addresses these questions by means of a simple, heuristic model of the economy that replicates in an integrated manner several independent results from the recent political economy literature. Unlike most of this literature, however, the model focuses on the role played by organized labor, rather than by rent-seeking firms and guilds. A two-stage game between the government and organized labor determines the level of product market distortions (for example, import tariffs). In the first stage, the players may undertake costly actions, such as redistributing income or striking, in order to increase their bargaining power. In the second stage, they negotiate over product market distortions and wages. Under very general assumptions, several policy regimes exist. Changes in the key parameters of the economy may trigger a switch in the strategy of trade unions from confrontation to cooperation and hence change the policy regime. Cross-country data highlight that, in spite of its simplicity, the model reproduces some observed empirical regularities. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 263-292 |
| Abstraksi Narasi | : | The government intervenes in the wheat market in Pakistan to ensure food security for consumers and to provide adequate and stable incomes for producers. The cost of this intervencion is high, and its impact on the performance of agriculture has been significantly negative. The World Bank is urging policy changes such as removing agricultural trade restrictions, price supports, an subsidies. However, policymakers often resist such reforms, fearing that they will expose the domestic market to fluctuating international commodity prices. This article assesses the risk management needs of the sector and evaluates whether using financial instruments-such as commodity hedging using futures, options, or swap-would improve risk management. Simulations based on monthly data for1994 show that market-based methods of risk management could reduce the impact of international price volatility on the domestic market without incurring high government cost or distoring price signals. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 195-218 |
| Abstraksi Narasi | : | This article reports the findings from surveys of formal and informal institutions and their clients in Ghana, Malawi, Nigeria, and Tanzania. It investigates the hypothesis that reforming financially repressive policies would not be sufficient to overcome fragmentation of financial markets because of structural and institutional barriers to interactions across different market segments. The four countries have substantially fragmented financial markets, with weak linkages between formal and informal segments and interest rate differentials that cannot be adequately explained by differences in costs and risks. Nevertheless, the relatively low transaction costs and loan losses of informal institutions indicate that they provide a reasonably efficient solution to information, transaction cost, and enforcement problems that exclude their clients from access to formal banking services. The findings imply that financial liberalization and bank restructuring in the African context should be accompanied by complementary measures to address institutional and structural problems, such as contract enforcement and information availability, and to improve the integration of informal and formal financial markets. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 293-325 |
| Abstraksi Narasi | : | In the 1980s China experienced "an explosion of pent-up entrepreneurship" facilitated by wide-ranging, although often unorthodox, economic reforms. This article uses data on the output of 23 industrial sectors in seven coastal regions (provinces and counties) over the periode 1985 to 1989 to study the correlates of growth. Although industry-spesific features-the degree of specialization and competition-had some influence on growth, much of the action came from region-specific influences and regional spillovers. Regional influences included the open-door policies and special economic zones that successfully attracted investments from overseas Chinese to particular locations. Existing regional strengths, especially high-quality human capital and infrastructure, also contributed to growth-for example, the contribution of foreign expertise is greatly enhanced by available human capital. China made judicatious use of the advantages of backwardness by targeting areas that were less developed and less encumbered by the legacy of existing institutions, although it was fortunate in this regard that the backward regions were in close proximity to Hong Kong and Taiwan (China). Important also was the transmission of growth impulses across the provinces and counties, possibly through prereform cadre and administrative networks. |
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