| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Research Observer |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 97-117 |
| Abstraksi Narasi | : | Seeds are crop-based agriculture`s most important input, yet few developing countries have succeeded in establishing efficient seed production and supply systems. In many developing countries the large-scale, centralized state farms and public seed corporations established to multiply and disseminate improved seeds of selected crops have proved ineffectual, failing to meet the diverse crop and varietal requirements of farmers. Governments and assissting agencies are currently reassessing their strategies, paying greater attention to the potential contributions of private firms, cooperatives, other nongovernmental organizations (NGOs), and farmers themselves. This article contributes to that reassessment. It defines the scope for involving the private sector in an array of seed-related activities, identifies critical and complementary roles for the public sector, and reviews seed system development in industrial and developing countries, with a primary focus on institutional dimensions. The article advocates a phased withdrawal of the public sector from the commercial side of seed production and marketing, while recognizing a continued important role for the public sector in plant breeding research, germplasm and varietal maintenance, training, quality control, and consumer protection. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Research Observer |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 121-146 |
| Abstraksi Narasi | : | How is the attempt of the European Community (EC) to create a single market going to affect the developing countries? This article argues that the net direct effects of EC-92 may be rather small: the trade creation and trade diversion effects brought about by the program may cancel each other out, with few repercussions for the developing countries as a group. The expected changes in trade flows arising from relatively small changes in nominal prices and aggregate incomes, the changes in market structure, the removal of internal barriers, and a predicted 5 percent increase in EC output may be important to European policy-makers, but they are rather remote from the developing countries. The threat of EC-92 to the developing countries lies elsewhere: from diversion of investment from those countries to the EC and from the resurrection of protectionism by the EC, especially in the form of nontariff barriers, toward the out-side world. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Research Observer |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 1-24 |
| Abstraksi Narasi | : | Financial reforms iniatiated in most transitional socialist economies do not yet adequately provide many of the financial services associated with market-oriented financial systems. Such services-mobilizing resources, selecting firms and allocating capital, monitoring firm managers, and facilitating the management of transactions and risk-are a necessary condition for economic reform to improve living standards. This article envisages four central strategies to guide reform of the financial sector: . Building an infrastructure based on clear and enforceable property rights, modern accounting and auditing standards, reliable payments systems, sound prudential and enforcement regulations, and professionals trained in finance . Ending the shell game of trying to hide the losses of state-owned enterprises, and separating government decisions to finance ``priority`` firms from the allocation decisions of independent financial institutions . Privatizing some financial institutions early-although not necessarily precipitously-in concert with the privatization of firms and suppervisory capabilities, meanwhile cleaning up bank loans to maximize the chances that firms and banks will succed as private entities . Improving the tax system and stressing a prudent interest rate policy to reduce uncertainty, distortions, and excessive repression of the financial sector. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Research Observer |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 147-155 |
| Abstraksi Narasi | : | - |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Research Observer |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 27-47 |
| Abstraksi Narasi | : | Understanding of the economic causes and consequences of market failure in credit markets has progressed a great deal in recent years. This article draws on these developments to appraise the case for government intervention in rural financial markets in developing countries and to discover whether the theoretical findings can be used to identify directives for policy. Before debating the when and how of intervention, the article defines market failure, emphasizing the need to consider the full array of constraints that combine to make a market work imperfectly. The various reasons fo market failure are discussed and set in the context in which credit markets function in developing countries. The article then looks at recurrent problems that may be cited as failures of the market justifying intervention. Among these problems are enforcement; imperfect information, especially adverse selection and moral hazard; the risk of bank runs; and the need for safeguards againts the monopoly power of some lenders. The review concludes with a discussion of interventions, focusing on the learning process that must take place for financial markets to operate effectively. |
| Nama Pengarang | : | Dina L. Umali, Feder, Gershon, Cornelis de Haan, Timothy Besley, Gerhard Pohl, Piritta Sorsa, Gerard Caprio, Ross Levine, A.J. Hughes Hallett, Steven Jaffee, Jacob Yaron |
| Nama Majalah/Jurnal | : | The World Bank Research Observer |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 71-96 |
| Abstraksi Narasi | : | Growing fiscal deficits and greater awareness of the huge economic cost of often-inefficient governmnet activities have renewed interest in transferring the delivery of important services from the public to the private sector in developing countries. This article, drawn from a longer study, offers a framework for determining the appropriate roles of the public and private sectors in delivering animal health services, such as veterinary surveillance, disease vector control, vaccination, clinical treatment of sick animals, inspection of livestock products, and veterinary research and extension. The provitability and therefore the supply of private veterinary services is goerned by several factors arising from economies of scale, such as the size of the livestock enterprises in the locality, the nature of potential or actual diseases, and the types of animals raised in the production systems. Thus, in areas where private veterinary work is unprofitable or where other types of market failure occur, economic or social concerns may make some type of public intervention necessary. The transfer of animal health services from the public to the private sector must be done selectively, and government support may be needed to ensure the success of such transfers. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Research Observer |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 143-168 |
| Abstraksi Narasi | : | The recent wave of democratization in developing countries and in formerly communist ones has sparked renewed interest in the relation between politics and economic adjustment. Adjustment programs, however well designed in a technical economic sense, are often politically difficult to launch and, once launched, to keep afloat. Success in implementing an adjustment program may depend on a government`s skill in generating political support and holding off the opposition. This article explores the politics of economic reform, drawing on country studies by political scientists and country specialists, the growing theoretical literature by economists, and the findings of a World Bank research project on the political economy of adjustment in new democracies. The article examines three broad clusters of variables: institutional characteristics of the political system, aspects of the internal and external economy, and the design of the reform program. It also considers the relevance of political analysis for policymakers and for international financial institutions. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Research Observer |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 195-210 |
| Abstraksi Narasi | : | Wage controls have been integral to the stabilization programs of the formerly socialist countries of Central and Eastern Europe that are now moving toward market economies. The usual rationale for such restraints in "heterodox" stabilization efforts has been the need to break the momentum of inflationary expectations. In economies in transition the pervasive weakness of governance of state enterprises supplies an added imperative: the controls are needed to hold the line against pressures for excessive wage increases, which must ultimately be paid for by decapitalization of firms, reduction of tax revenues, or accumulation of enterprise debt. Examinination of the design and enforcement of various systems of wage control leads to the conclusion that wage controls inevitably distort decisions on employment and work effort. These distortions, moreover, are the result of the same features of state entreprises that necessitate wage controls in the first place. Ultimately, the only way to avoid such distortions is to remove uncertainty about the timing of privatization, to ensure that workers and management have a welldefined stake in the newly privatized firms, and to establish financial discipline over the enterprises. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Research Observer |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 169-194 |
| Abstraksi Narasi | : | Most long-term credit in developing countries is allocated through negotiated agreements between governments instituations and financial intermediaries or final borrowers, and often at administered rates. Yet many developing countries have no long-term credit market whose interest rates can be used as benchmarks for these loans. If credit is priced improperly, it will be allocated innefficiently and the development of capital markets may be stunted. In light of the generally dissapointing experience with conventional methods of allocating development credit, some countries have introduced credit auctions as an alternative. Among the advantages are greater transparency and fairness, lower transaction costs, and increased competition and efficiency. Among the disadvantages are a greater vulnerability to collusion, which can lead to lower interest rates and revenue, and a tendency to attract the least desirable participants (adverse selection) and to lend for riskier projects (moral hazard), which can lead to lower repayment rates and a higher probability of default. All these factors can lead to inefficiency in the allocation of funds. This article suggests ways to lessen these negative effects and presents various elements of auction design that affect the efficiency of credit auctions and their suitability to specific circumstances. When properly designed, auctions can be used in a variety of environments to allocate development credit more efficiently than current methods do. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Research Observer |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 119-141 |
| Abstraksi Narasi | : | The poorer half of the world`s people have long relied for their energy needs on woodfuels. Since the oil shocks of the 1970s, pressure on forest resources has increased and the costs of traditional use of woodfuels have been growing-to the householder, in cash or collection time, and to society in inefficient energy use, deforestation, and local and global harm to health and the environment. Modern, efficient stoves can alleviate some of these problems; programs to design and disseminate them would seem a worthwhile pursuit for development activity. But do such programs in fact warrant the investment? Why have so many failed to catch on as expected? The authors find that programs have been most successful when targeted to specific areas where woodfuel prices or collection times are high. Field testing, consumer surveys, and involvement of local artisans from the outset have been critical to the ultimate adoption of the stoves. With these elements in place, external support from governments and donors can be useful; lacking them, subsidies may succed only in distributing stoves that ultimately molder away unused. This article`s review of what makes for succes and failure is instructive for the design of stove programs in particular, and of development projects that propagate improved methods and technologies in general. |
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