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on Project, Program and Portfolio Management |
| By: | Laura Metzger (ETH Zurich); Isabel Günther (ETH Zurich) |
| Abstract: | Ongoing empirical research on the drivers of project-aid effectiveness relies on World Bank evaluation ratings across heterogeneous aid sectors. This leads to two problems. First, it is difficult to identify which dimension of project performance World Bank evaluation ratings are measuring precisely. Second, only project management variables, which are sector independent, can be included in the analysis. This study concentrating on an analysis of 150 water supply projects enables us to work with a more precise and objective performance measure by defining sector-specific indicators of improved water supply. Moreover, we are able to analyze the impact of project design in addition to project management. We find that evaluation ratings and indicators of improved water supply are positively but weakly correlated. Project management variables have a higher impact on evaluation ratings whereas project design variables have a higher impact on improving water supply to the target group. Various independent variables even change sign if indicators of improved water supply instead of evaluation ratings are chosen as a performance measure of project-aid effectiveness. Taking into account project design in addition to project management and country characteristics considerably increases the share of variation in project performance that can be explained. |
| Keywords: | Aid effectiveness; evaluation; indicators; water supply |
| JEL: | F35 O19 |
| Date: | 2013–11–07 |
| URL: | http://d.repec.org/n?u=RePEc:got:gotcrc:154&r=ppm |
| By: | Cruz, Cesi; Keefer, Philip |
| Abstract: | Bureaucratic reform is a priority of donor organizations, including the World Bank, but is notoriously difficult to implement. In many countries, politicians have little interest in the basic financial and personnel management systems that are essential to political oversight of bureaucratic performance. To explain this, this paper presents a new perspective on the political economy of bureaucracy. Politicians in some countries belong to parties that are organized to allow party members to act collectively to limit leader shirking. This is particularly the case with programmatic parties. Such politicians have stronger incentives to pursue public policies that require a well-functioning public administration. Novel evidence offers robust support for this argument. From a sample of 439 World Bank public sector reform loans in 109 countries, the paper finds that public sector reforms are more likely to succeed in countries with programmatic political parties. |
| Keywords: | Public Sector Economics,Public Sector Management and Reform,Public Sector Expenditure Policy,Public Sector Corruption&Anticorruption Measures,Intergovernmental Fiscal Relations and Local Finance Management |
| Date: | 2013–11–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:6686&r=ppm |
| By: | Nancy L. Stokey |
| Abstract: | This paper develops a model of investment decisions in which uncertainty about a one-time change in tax policy induces the firm to temporarily stop investing—to adopt a wait-and-see policy. After the uncertainty is resolved, the firm exploits the tabled projects, generating a temporary investment boom. |
| JEL: | D92 E22 E32 H32 |
| Date: | 2013–11 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:19630&r=ppm |
| By: | Allen, Franklin (University of PA); Babus, Ana (Princeton University); Carletti, Elena (European University Institute) |
| Abstract: | We develop a model where financial institutions swap projects in order to diversify their individual risk. This can lead to two different asset structures. In a clustered structure groups of financial institutions hold identical portfolios and default together. In an unclustered structure defaults are more dispersed. With long term finance welfare is the same in both structures. In contrast, when short term finance is used, the network structure matters. Upon the arrival of a signal about banks' future defaults, investors update their expectations of bank solvency. If their expectations are low, they do not roll over the debt and all institutions are early liquidated. We compare investors' rollover decisions and welfare in the two asset structures. |
| JEL: | D85 G01 G21 |
| Date: | 2013–02 |
| URL: | http://d.repec.org/n?u=RePEc:ecl:upafin:10-30&r=ppm |
| By: | Sabitova, Saltanat |
| Abstract: | Kazakhstan ratified the Kyoto Protocol on 26 March 2009. As part of measures aimed at implementing the Kyoto Protocol, Kazakhstan is preparing for launching its first domestic emissions trading scheme (ETS). National cap-and-trade system is expected to be a key climate-policy instrument for reaching general commitments of the country to mitigate climate change. Emitters which are subject to the Kazakh emissions trading scheme are allocated with emission caps, which can be traded within national cap-and-trade scheme. Such emitters can reduce their own emissions and then sell excess of cap allowances on the market. If emitting more than allowed, they can buy allowances if any available, otherwise are obliged to pay strict fines defined by the government. Domestic sectors, which are subject to Kazakh emissions trading scheme, were chosen with the intention to regulate key sectors and categories by one market-based tool. Kazakh ETS will cover companies emitting from twenty thousand tons of carbon dioxide equivalent per year. In the time when Kazakhstan is actively investigating other options for reducing emissions to comply with its present voluntary commitments and future commitments under the Kyoto Protocol, establishment of a domestic emissions trading scheme may be a good option. That is why Kazakh ETS is taking serious attention of the government. In this way, the government intends to raise the interest of operators to move gradually to energy efficiency and low-carbon policy by their own initiatives. GHG emissions can be reduced by several means such as establishing renewables,installing energy-saving technologies, and such others; however, GHGs can also be reduced through increasing GHG absorbing measures, provided within the land use, landuse change and forestry (LULUCF) sector of the Kyoto Protocol. Kazakh emissions trading scheme does not provide trading of carbon units in the LULUCF sector directly. Planting new forests to absorb carbon dioxide in the atmosphere is one viable option to employ forests to curb climate change. The idea of planting carbon offsets is now being implemented worldwide under the Kyoto Protocol and beyond it. There are three major frameworks for LULUCF projects. First, avoiding emissions by conservation of existing carbon stocks, second, increasing carbon storage by sequestration, and third, substituting carbon for fossil fuel and energy intensive products. The aim of the study is to analyze how the LULUCF sector can be employed under current Kazakh emissions trading scheme. |
| Keywords: | Kazakhstan, Kyoto Protocol, domestic emissions trading scheme (ETS), land use, landuse change and forestry (LULUCF), Community/Rural/Urban Development, Environmental Economics and Policy, International Development, Research Methods/ Statistical Methods, R, Q, O, |
| Date: | 2013–10–01 |
| URL: | http://d.repec.org/n?u=RePEc:ags:ugidic:159097&r=ppm |
| By: | Takanori Ida; Naomi Fukuzawa |
| Abstract: | This study investigates the effects of large-scale research funding from the Japanese government on the research outcomes of university researchers. To evaluate the effects, we use the difference-in-differences estimator and measure research outcomes in terms of number of papers and citation counts per paper. Our analysis shows that the funding program led to an increase in the number of papers in some fields and an increase in the citation counts in the other fields. A comparison of our estimation results with assessment data obtained from peer reviews showed important differences. Since the characteristics of research vary according to the field, bibliometrics analysis should be used along with the peer review method for a more accurate analysis of research impact. |
| Keywords: | Research assessment, Difference-in-differences, Government grants, University research, Bibliometrics, Peer review |
| URL: | http://d.repec.org/n?u=RePEc:kue:dpaper:e-11-012&r=ppm |