| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Research Observer |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 223-248 |
| Abstraksi Narasi | : | The topic of deforestation is seldom examined from the perspective of prices and responses to resource scarcity. This omission creates important errors in policy. Resource scarcity induces investments in both commercial and subsistence uses of the forest once prices overcome the costs of establishing property rights, forest management, and the returns from alternative agricultural uses of the land. Therefore deforestation will induce price increases and investments in forestry well before deforestation attains its physical limit. These prices and costs will alter the boundaries among several important classes of forest land: sustainable private forestry, the forested commons, unsustainable open-access forest, and unused residual forest. The greatest impact on the world`s forests will come from refocusing the policy dialogue on the cost factors that determine these boundaries, including agricultural support policies, local concentrations of nonmarket environmental resources, and policy failures that distort incentives to invest in forestry. In locations where reforestation induces large price changes, policymakers must remain attuned to the likelihood that deforestation-induced changes in the prices of forest products and forest policies may cause significant shifts in the activities of the poorest people. |
| Nama Pengarang | : | Dimitri Vittas, Yoon Je Cho, William F. Hyde, Gregory S. Amacher, William Magrath, Stiglitz, Joseph E., Marilou Uy, Martin Ravallion, Cheryl W. Gray, Stiglitz, Joseph E. |
| Nama Majalah/Jurnal | : | The World Bank Research Observer |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 277-298 |
| Abstraksi Narasi | : | The success of policy-based credit programs in Japan and the Republic of Korea suggests that credit policy can be effective instrument for economic development. Why, then, have credit policies failed in so many countries, and what factors explain their relative success in Japan and Korea? Both economic and institutional factors appear to be important in the success or failure of credit policies. Essential economic factors include a reliance on the private sector, a bias toward industrialization, an orientation toward export production, the encouragement of domestic competition, and a commitment to price stability. Crucial institutional factors include extensive and frequent consultation between government and the private sector, effective monitoring systems, and, most important, a clear and credible plan for economic development. Although several countries have included one or more of these factors in their programs, the experience of Japan and Korea suggests that a comprehensive network combining all or most of these factors may be necessary for the successful implementation of credit policies. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Research Observer |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 143-150 |
| Abstraksi Narasi | : | - |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Research Observer |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 119-142 |
| Abstraksi Narasi | : | To achieve certain policy objectives, governments frequently provide private borrowers with loan guarantees that cover some or all of the risk that the borrower will be unable to replay the loan. Such guarantees are extremely valuable, and their value increases with the riskiness of the underlying asset or credit, the size of the investment, and the duration of the loan. The flip side of a guarantee`s value to a lender is its cost to the government. Such a cost is not explicit but is real nevertheless. When providing guarantees, governments therefore must establish accounting, valuation, and risk-sharing mechanisms. This article describes methods of valuing guarantees; reports estimates of the value of guarantees in different settings; and summarizes new methods of accounting designed to anticipate losses, create reserves, and channel funds through transparent accounts to ensure that the costs of guarantees are evident to government decisionmakers. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Research Observer |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 23-37 |
| Abstraksi Narasi | : | Child health and nutrition are strongly associated with educational achievement. But associations do not necessarily indicate causality; estimates generally are likely to be biased in one direction or the other. As a result analysts and policymakers should have much less confidence in findings about the effect of health on schooling success than has been claimed in previous surveys. The evidence is more nuanced and qualified than is often recognized but may still support the conclusion that health may have considerable effects on postschooling productivity. Policy implications point toward providing public subsidies for the collection, analysis, and dissemination of information about the links between health and education; and toward providing services to improve the health of poor children. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Research Observer |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 87-117 |
| Abstraksi Narasi | : | The 1990s have seen a renewed interest in issues of capital accumulation and growth. New paradigms for saving, investment, and growth have been advanced to address theoretical and empirical puzzles and to guide the design of better policies. This paper provides a policy-oriented review of recent theoretical and empirical work on the determinants of saving and investment and on their links to growth. It takes stock of new findings as well as still unresolved questions and gives particular attention to empirical regularities and to the policy issues relevant to developing countries. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Research Observer |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 61-85 |
| Abstraksi Narasi | : | Capital inflows to some developing countries have increased sharply in recent years. Impelled by better economic prospects in those countries, lower international interest rates, and a slowdown of economic activity in the capital exporting countries, the inflows have furnished financing much needed to increase the use of existing capacity and to stimulate investment. But capital inflows can bring with them their own problems. Typical macroeconomic repercussions have been appreciation of the real exchange rate, expansion of nontradables at the expense of tradables, larger trade deficits, and, in regimes with a fixed exchange rate, higher inflation and an accumulation of foreign reserves. Should government intervene to limit some of these side effects-and if so, how? The question is especially pressing in the wake of the Mexican crisis of December 1994. This article looks for answers in the experience of four Latin American and five East Asian countries between 1986 and 1993, examining the effects of the capital inflows on the economy and comparing the different ways in which these countries responded to the problem of ``too much`` capital. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Research Observer |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 39-59 |
| Abstraksi Narasi | : | The view that macroeconomic adjustment disproportionately hurts the poor in Africa has become commonplace. The popular media and the nongovernmental aid community frequently express this view in critiques of Bank-funded economic reform programs. Yet the evidence on which the claim has been based is flimsy and anecdotal. The emergence of more convincing data, from detailed household surveys in Africa, provides an opportunity to set the record straight. The evidence from six African countries reviewed in this article demonstrates that poverty was more likely to decline in those that improved their macroeconomic balances than in those that did not. The critical factor is economic growth: the economy grew more rapidly and poverty declined faster in countries that improved macroeconomic balances, depreciating the real effective exchange rate. Changes in the real exchange rate also immediately and favorably affected rural incomes, benefiting the poor both directly and indirectly. But the findings also highlighted three causes for policy concern. First, many African governments have yet to display a real commitment to macroeconomic reform; second, the poorest of the poor have not benefited from recent growth in some countries; and, third, the prospects for the poor are not rosy unless there is more investment in human capital and better targeting of social spending. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Research Observer |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 1-2 |
| Abstraksi Narasi | : | - |
| Nama Pengarang | : | Harold Alderman, Victor Lavy, Squire, Lyn, Demery, Lionel , Squire, Lyn, Corbo, Vittorio, Leonardo Hernandez, Klaus Schmidt-Hebbel, Luis Serven, Andres Solimano, Behrman, Jere R., Ashoka Mody, Dilip K. Patro, David O. Sewell |
| Nama Majalah/Jurnal | : | The World Bank Research Observer |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 3-22 |
| Abstraksi Narasi | : | The effectiveness of governmnet investments in health care depends on the public`s response to price and quality as well as on whether these expenditures actually improve health outcomes. Consumers, even those in low-income households, are willing to pay fees for better health care if the fees translate into improved access and reliability. But when prices rise without a concomitant improvement in services, malnutrition and child mortality rates increase. The availability of basic health care has a relatively greater impact on households with low incomes or low education, or both, than does the provision of more specialized services. This article describes the types of services for which households indicate they are willing to pay increased fees. It also indicates the potential gains from improving these services, as well as the consequences of moving faster on cost recovery than on providing improved or better-targeted services. |
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