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on Central and Western Asia |
| By: | Poonam Gupta |
| Keywords: | Workers remittances , India , Balance of payments , |
| Date: | 2005–12–16 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:05/224&r=cwa |
| By: | A. Prasad; Sonali Jain-Chandra |
| Keywords: | Trade liberalization , India , Exports , Economic models , |
| Date: | 2005–12–02 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:05/214&r=cwa |
| By: | Raghuram Rajan; Utsav Kumar; Ioannis Tokatlidis; Kalpana Kochhar; Arvind Subramanian |
| Date: | 2006–02–01 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:06/22&r=cwa |
| By: | Roberto Guimaraes (International Monetary Fund); Cem Karacadag (International Monetary Fund) |
| Date: | 2005–09–03 |
| URL: | http://d.repec.org/n?u=RePEc:mmf:mmfc05:68&r=cwa |
| By: | Zaidi, Rida; Martinez Peria, Maria Soledad; Klapper, Leora F.; Berger, Allen N. |
| Abstract: | The authors formulate and test hypotheses about the role of bank ownership types-foreign, state-owned, and private domestic banks-in banking relationships, using data from India. The empirical results are consistent with all of their hypotheses with regard to foreign banks. These banks tend to serve as the main bank for transparent firms, and firms with foreign main banks are most likely to have multiple banking relationships, have the most relationships, and diversify relationships across bank ownership types. The data are also consistent with the hypothesis that firms with state-owned main banks are relatively unlikely to diversify across bank ownership types. However, state-owned banks often do not provide the main relationship for firms they are mandated to serve (for example, small, opaque firms), and the predictions of negative effects on multiple banking and number of relationships hold for only one type of state-owned bank. |
| Keywords: | Banks & Banking Reform,Financial Intermediation,Financial Crisis Management & Restructuring,Banking Law,Economic Theory & Research |
| Date: | 2006–03–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:3862&r=cwa |
| By: | Dennis, Allen |
| Abstract: | In recent years there has been an increasing recognition of the importance of complementary policies in enhancing the benefits of a more open trade regime. This study focuses on the importance of factor market flexibility to trade reforms. Using the Global Trade Analysis Project (GTAP) model and database, the results show that the welfare impact of trade reform is contingent on the flexibility of factor markets, with higher welfare gains occurring where factor markets are more flexible, and vice-versa. Defining two extreme factor market scenarios over Morocco and Tunisia, the author finds that the welfare gains of trade reforms under conditions of flexible factor markets can be as much as six times the gains compared with a rigid factor market scenario. This is so because whereas trade reforms may improve the incentive structure for resource reallocation, the extent to which resources move from less efficient to more efficient sectors of an economy is dependent on the degree of flexibility of factor markets. |
| Keywords: | Free Trade,Economic Theory & Research,Markets and Market Access,Trade and Regional Integration,Trade Law |
| Date: | 2006–03–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:3857&r=cwa |
| By: | Rebeca I Muñoz Torres (University of Leicester) |
| Date: | 2005–09–03 |
| URL: | http://d.repec.org/n?u=RePEc:mmf:mmfc05:3&r=cwa |
| By: | Kaminski, Bartlomiej |
| Abstract: | This paper analyzes the process of institutional transformation in Bulgaria and assesses the extent to which it has established institutions and policies fostering domestic economic activity and integration into global markets. After a brief review of characteristics and achieved progress in first-generation reforms, that is, removal of central control over prices, liberalization of foreign trade and exchange rate regimes, the paper first assesses in the comparative perspective the progress made in the quality of governance and structural reforms. It then takes a look at the extent to which this has impacted foreign direct investment inflows and was translated into improved business environment in its domestic and external dimensions. The external dimension relates to backbone services facilitating trade and Bulgaria ' s trade policies. As far as the latter are concerned, the discussion highlights tensions that emerge from duality-regional versus multilateral-in Bulgaria ' s trade policy. Despite significant progress in implementation of structural reforms and converging to the EU acquis communautaire that has led to a significant enhancement in the quality of governance and market supporting institutions, " macro " institutional improvements are yet to be fully transplanted to a micro-level, as three areas appear to remain a binding constraint: First and foremost is the low quality of the judicial system and, by the same token, weaknesses in the enforcement of property rights and contracts. Second, backbone services facilitating trade remain a barrier. Bulgaria ranks low relative to the levels of efficiency achieved on average by both EU-8 and the EU-15 countries in management of ports, information technology infrastructure, and customs. Third, there are recurrent complaints among businesses of government bureaucracy, poor infrastructure, and frequent changes in the legal framework including taxation. As a result, the regulatory burden remains huge. There are still redundant and excessive sector-specific regulatory regimes. Bulgaria ' s markets for industrial goods are fully contestable for pan-Europe (EU-25, European Free Trade Association, Romania, and Turkey), exposing local producers to duty-free competition from imports. With relatively high most favored-nation tariff rates, the level of reverse discrimination significantly increased over the past couple of years. While this has not resulted in perceptible trade diversion, organizational arrangements preventing that to happen unnecessarily increase administrative intervention in the economy. |
| Keywords: | Governance Indicators,National Governance,Economic Policy, Institutions and Governance,Economic Theory & Research,Financial Crisis Management & Restructuring |
| Date: | 2006–03–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:3864&r=cwa |
| By: | Antonio Spilimbergo |
| Date: | 2006–01–09 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:05/241&r=cwa |
| By: | Ng, Francis; Kaminski, Bartlomiej |
| Abstract: | This paper looks at Bulgaria ' s industrial restructuring through the lenses of its evolving specialization in international division of labor and integration into international markets with a special emphasis on EU markets. Its major findings can be summarized as follows: (1) Developments in Bulgaria ' s exports, its major drivers and factor content, during the " second transition " following the 1996 crisis have become reminiscent of developments in the early 1990s in European transition economies that have stayed the reform course. (2) The evoluti on of Bulgaria ' s total exports in terms of factor intensities before the " second transformational " recession was a testimony to aborted economic reforms. It not only defied expectations derived from the experience of CEEC-10 economies and its production factor endowments but also dramatically increased the cost of adjustment to market conditions for the economy as a whole. (3) Exports of unskilled labor-intensive products continue towering over other exports even during the current expansionary phase. The composition of top performers in EU markets indicates the shift toward natural resource and capital-intensive products. Bulgaria ' s export offer in EU markets has begun shifting toward more processed goods, mostly products of electro-engineering sectors. Bulgarian producers have made significant strides in information communication technology products and automotive parts. Trade in parts and engineering products has displayed strong growth. The returns usually associated with liberal reforms, that is, gains in competitiveness combined with a shift toward products in line with the country ' s endowments in production factors began to surface only recently. In contrast to the period preceding the second transformational recession in 1996-97, gains in competitiveness derive from corporate and industrial restructuring and not from subsidies. |
| Keywords: | Economic Theory & Research,Free Trade,Trade Policy,Agribusiness & Markets,Export Competitiveness |
| Date: | 2006–03–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:3863&r=cwa |
| By: | Mandana, Hajj; Panizza, Ugo |
| Abstract: | This paper uses individual-level data and a differences in differences estimation strategy to test whether the education gender gap of Muslims is different from that of Christians. In particular, the paper uses data for young Lebanese and shows that, other things equal, girls (both Muslim and Christian) tend to receive more education than boys and that there is no difference between the education gender gap of Muslims and Christians. Therefore, the paper finds no support for the hypothesis that Muslims discriminate against female education. |
| Keywords: | Religion, Islam, Education, Gender Gap |
| JEL: | Z12 I20 O53 |
| Date: | 2006–02 |
| URL: | http://d.repec.org/n?u=RePEc:uca:ucapdv:64&r=cwa |
| By: | Christoph Bühler (Max Planck Institute for Demographic Research, Rostock, Germany) |
| Abstract: | Personal networks receive increasing recognition as structural determinants of fertility. However, the network perspective also helps to explain personal motivations for having children. Using theories of interpersonal exchange and of the value of children, it is argued that children can substantively alter and improve their parents’ social networks. Individuals perceive this potential advantageous development as a structural benefit and consider this value in their reproductive decisions. Data from Bulgaria, collected in 2002, support this argument. The intentions of females and males to have a first or second child are positively influenced by at least one structural value. Women’s intentions are promoted by the prospect that a child will bring their parents and relatives closer or will strengthen the bond with the partner. Male’s intentions are closely associated with the expectation that a child will improve their security at old age. |
| Keywords: | Bulgaria, costs, decision making, fertility determinants, social capital, social network, value of children |
| JEL: | J1 Z0 |
| Date: | 2006–02 |
| URL: | http://d.repec.org/n?u=RePEc:dem:wpaper:wp-2006-003&r=cwa |