| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 487-512 |
| Abstraksi Narasi | : | Rural roads promote economic development, but they also facilitate deforestation. To explore this tradeoff, this article develops a spatially explicit model of land use and estimates probabilities of alternative land uses as a function of land characteristics and distance to market using a multinomial logit specification of this model. Controls are incorporated for the endogeneity of road placement. The model is applied to data for southern Belize, an area experiencing rapid expansion of both subsistence and commercial agriculture, using geographic information system (GIS) techniques to select sample points at 1-kilometer intervals. Market access, land quality, and tenure status affect the probability of agricultutre land use synergistically, having differential effects on the likehood of commercial versus semisubsistence farming. The results suggest that road building in areas with agriculturally poor soils and low population densities may be a "lose-lose" proposition, causing habitat fragmentation and providing low economic returns. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 397-424 |
| Abstraksi Narasi | : | The transition from a planned economy to a market economy involves a complex process of institutional, structural, and behavioral change. This article develops an index of economic liberalization and analyzes its interaction with growth and inflation, using data from twenty-six transition countries for 1989-94. The article reveals two paradoxes of transition. First, the attempt to maintain output by subsidizing enterprises results in larger declines in output than occur under a policy of reducting subsidies. Second, price liberalization results in lower inflation than occurs under a policy of continued price tools. Strong common patterns exist among countries at similar stages of reform. The common legacy and the associated change that result from initial distruptions in the socialist economic coordinating mechanisms and subsequent liberalizarions measures go a long way toward explaining the transition experience. Because strong interactions between liberalization and stabilization are likely, stabilization becomes a priority for athe resumption of growth. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 513-540 |
| Abstraksi Narasi | : | In certain situations, economic liberalization policies can increase the degree of spatial concentration of manufacturing in large metropolitan areas. In addition, historical patterns of location make it difficult to alter the degree of centralization. This article explores these issues by specifying and estimating a nested logit model of industrial location of manufacturing activity in Java, focusing on the unincorporated sector. The results indicate that plants strongly prefer locations with mature plants in related industries, which offer a built-up stock of local knowledge. In addition, the 1983 liberalization in Indonesia was associated with increased centralization of the unincorporated sector. Although he liberalization gave unincorporated firms better access to government and other centralized services, firms needed to centralized to take advantage of these opportunities because the bureaucratic process is centralized and communications are poor. The relative increased growth of the corporate sector following liberalization may also have helped to further draw unincorporated plants into centralized locations. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 425-450 |
| Abstraksi Narasi | : | Policymakers working on enterprise restucturing should take a close look at Hungary`s experience with bankruptcy reform since 1992. This article provides detailed data on a randomly selected stratified sample of actual cases filed in the first two years after the enactment of the law. These data are supplemented with information obtained from interviews with judges, liquidators, and firms involved in the bankuptcy process to give an overall picture of the process in the first two years of its implementation. The bankruptcy process in Hungary has indisputably spurred institution building in the courts, the trustee profession, and the banks. It may also have succeded broadly in separating viable from unviable firms. It did little, however, to further either deep restucturing or the exit of ailing firms. The changes in incentives and institutions that are needed to make bankruptcy work in transition economies invariably take time. Hungary`s initiative, albeit imperfect, was a bold start toward reform. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 541-562 |
| Abstraksi Narasi | : | This article documents the search for a Dalton-improving tax and expenditure reform using a methodology developed by Yitzhaki and Slemrod (1991) and Mayshar and Yitzhaki (1995). The methodology overcomees the need to define e specific social welfare function by searching instead for reforms that improve each social welfare function belonging to a wide class of functions. The authors apply the method to the energy sector of Indonesia, ignoring distributional constraints, and find that both the subsidy on kerosene and the tax on gasoline should be reduce. But taking distributional concerns into account, the present structure of energy taxes is reasonable and the country may benefit by increasing the subsidy of kerosene, taxing electricity, and reducing the gasoline tax. These conclusions are robust to changes in the relevant parameters representing the Indonesian economy. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 565-591 |
| Abstraksi Narasi | : | This article presents a new data set on inequality in the distribution of income. The authors explain the criteria they applied in selecting data on Gini coefficients and on individual quintile groups` income shares. Comparison of the new data set with existing compilations reveals that the data assembled here represent an improvement in quality and a significant expansion in coverage, although differences in the definition of the underlying data might still affect intertemporal and international comparability. Based on this new data set, the authors do not find a systematic link between growth and changes in aggregate inequality. They do not find a strong positive relationship between growth and reduction of poverty. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 371-396 |
| Abstraksi Narasi | : | The role of debt and equity changes over time and with the level of development. What are these changes, and why should they systematically occur across different countries and time periods? This article characterizes financial innovation as a dynamic process that both influences and is influenced by the development of the real sector. It focuses on the emergence and development of equity markets, using a model that allows for growth and for capital accumulation that is financed externally through a combination of debt and equity. As an economy develops, the aggregate ratio of debt to equity will generally fall; yet, debt and equity remain complementary sources for the financing of capital investment. The results suggest how various government policy actions might affect capital accumulation and equity market activity. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 223-239 |
| Abstraksi Narasi | : | Deskripsi abstrak ringkas tidak tersedia untuk artikel ini. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 323-339 |
| Abstraksi Narasi | : | Is the financial system important for economic growth? One line of research argues that it is not; another line stresses the importance of the financial system in mobilizing savings, allocating capital, exerting corporate control, and easing risk management. Moreover, some theories provide a conceptual basis for the belief that larger, more efficient stock markets boost economic growth. This article examines whether there is a strong empirical association between stock market development and long-run economic growth. Cross-country growth regressions suggest that the predetermined component of stock market development is positively and robustly associated with long-run economic growth. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 291-321 |
| Abstraksi Narasi | : | World stock markets are booming, and emerging stock markets account for a disproportionate share of this growth. Yet economists lack a common concept or measure of stock market development. This article collects and compares a broad array of indicators of stock market market and financial intermediary development, using data from forty-four developing and industrial countries during the period from 1986 to 1993. The empirical results exhibit wide cross-country differences for each indicator as well as intuitively appealing correlations between various indicators. The article constructs aggregate indexes and analyzes them to document the relationship between the emergence of stock markets and the growth of financial intermediaries. It produces a set of stylized facts that facilitates and stimulates research into the links among stock markets, economic development, and corporate financing decisions. |
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