| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 341-369 |
| Abstraksi Narasi | : | In many developing countries with emerging stock markets, banks are fearful of stock market development because they think that stock markets will reduce the volume of their business. This article empirically analyzes the effects of stock market development on firms` financing choices using data from thirty developing and industrial countries from 1980 to 1991. The results imply that initial improvements in the functioning of a developing stock market produce a higher debt-equity ratio for firms and thus more business for banks. In stock markets that are already developed, further development leads to a substitution of equity for debt financing. By contrast, in developing stock markets, large firms become more levered as the stock market develops, whereas small firms do not appear to be significantly affected by stock market development. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 241-265 |
| Abstraksi Narasi | : | Poorly developed equity markets inhibit the transfer of capital ownership. Moreover, the costs of transacting in equity markets affect not just the level of investment, but the kinds of investments that are undertaken. Once equity markets allow the ownership of capital to be transferred economically, reductions in costs tend to favor the use of longer-maturity investments. When there is a relationship between the maturity of an investment and its productivity, transactions cost reductions are conducive to observing certain kinds of increases in productive efficiency. This article analyzes savings, investment, and consumption decisions by using an overlapping generations model with two-period-lived agents. The analysis allows for several technologies for converting current output into future capital that vary by productivity and maturity, and it makes ownership of capital costly to transfer. A reduction in transactions costs will typically alter the composition of savings and investment, and have potentially complicated consequences for capital accumulation and steady-state output. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 267-289 |
| Abstraksi Narasi | : | A wide array of official capital controls across countries makes it difficult to perform cross-sectional analysis of the effects of market segmentation. This article constructs a measure of deviations from capital market integration that can be consistently applied across countries. It measures the deviations of asset returns from an equilibrium model of returns constructed assuming market integration. Applying the measure to stock returns from twenty-four national markets indicates that market segmentation tends to be much larger for emerging markets than for developed markets, and that the measure tends to decrease over time. Along several dimensions, the proposed measure yields results that are consistent with reasonable priors about the relations between effective integration and explicit capital controls, capital market development, and economic growth. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 51-77 |
| Abstraksi Narasi | : | After being excluded from world capital markets during the debt crisis, many developing countries have experienced large capital inflows during the past five years. The challenges that these inflows pose for domestic policy in recipient countries have generated a substantial literature. This article presents an overview of that literature, describing the characteristics of the new inflows, analyzing the policy issues they raise, assessing their causes and likely sustainability, and evaluating potential policy responses. The desirable policy response is tied to characteristics of the flows themselves as well as to the characteristics of the resipient economy. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 85-122 |
| Abstraksi Narasi | : | This article examines the realtionship between female schooling and two behaviors-cumulative fertility and contraceptive use-in fourteen Sub-Saharan African countries where Demographic and Health Surveys (DHS) have been conducted since the mid-1980s. Average levels of schooling among women of reproductive age are very low, from less than two years to six. Controlling for background variables, the last years of female primary schooling have a negative realtion with fertility in about half the countries, while secondary schooling is associated with substantially lower fertility in all countries. Female schooling has a positive relationship with contraceptive use in all levels. Among ever-married women, husband`s schooling exerts a smaller effect than does female schooling on contraceptive use and, in almost all cases, on fertility. Although the results suggest commonalities among these Sub-Saharan countries, they also reveal intriguing international differences in the impact of female schooling, which might reflect differences in the impact of female schooling, which might reflect differences in quanlity of schooling, labor markets, and family planning programs, among others. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 27-50 |
| Abstraksi Narasi | : | The outlook for economic development for an important group of middle-income countries has once again been buoyed by substantial private capital inflows in the 1990s. As in the 1970s, this development has been met with cautious optimism. This empirical study finds that although debt reduction and policy reforms in debtor countries have been important determinants of renewed access to international capital markets, changes in international interest rates have been the dominant factor. We calculate the effects of changes in international interest rates for a "typical" debtor country. We conclude that increases in interest rates associated with a bussiness cycle upturn in industrial countries could depress the secondary market prices of existing debt to levels inconsistent with continued capital inflows. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 81-84 |
| 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 | : | 1-25 |
| Abstraksi Narasi | : | Using a new series of consistent, comsumption-based poverty measures spanning forty years, we assess how much India`s poor shared in the country`s economic growth, taking iinto account its urban-rural and output composition. Rural comsumption growth reduced poverty in both rural and urban areas. Urban growth brought some benefits to the urban poor, but had no impact on rural poverty. And rural-to-urban population shifts had no significant impact no poverty. Decomposing growth by output sectors, we found that output growth in the primary and tertiary sectors reduced poverty in both urban and rural areas but that secindary sector growth did not reduce poverty in either. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 189-222 |
| Abstraksi Narasi | : | Zimbabwe has invested massively in public infrastructure since independence in 1980. The impact to these investments on demographic outcomes is examined using household survey data matched with two community level surveys. A woman`s education is a powerful predictor of both fertility and contraceptive use. These relationships are far from linear and have changed shape in recent years. After controlling for household resources, both the availability and quality of health and family planning services have an important impact on the adoption of modern contraceptives. In particular, outreach programs such as mobile family planning clinics and community-based distributors (CBDs) have been especially successful. However, not all women are equally served by this infrastructure. For example, CBDs have a bigger impact on younger, better educated women, while mobile family planning clinics appear to have more success with older, less educated women. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 123-158 |
| Abstraksi Narasi | : | This article examines individual, household, and community characteristics that may affect fertility in contemporary Cote d`Ivoire and Ghana and the relationship between child mortality and fertility. It was not possible to reject the null hypothesis that child mortality is exogenous. Treating child mortality as exogenous, fertility responds directly to child mortality, but by a smaller proportion than estimated in studies of East Asia and latin America. Increases in female education and urbanization are likely to contribute to declines in fertility in both countries, but economic growth without these structural changes is not yet strongly related to lower fertility. |
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