Documents & Reports

Aart C. Kraay

Lead Economist

AART KRAAY is a Lead Economist in the Development Research Group at the World Bank. He joined the World Bank in 1995 after earning a Ph.D. in economics from Harvard University (1995), and a B.Sc. in economics from the University of Toronto (1990). His research interests include international capital movements, growth and inequality, governance, and the Chinese economy. His research on these topics has been published in scholarly journals such as the Quarterly Journal of Economics, the Review of Economics and Statistics, the Economic Journal, the Journal of Monetary Economics, the Journal of International Economics, and the Journal of the European Economic Association. He is an associate editor of the Journal of Development Economics, and is an adjunct professor at the School of Advanced International Studies at Johns Hopkins University. He has also held visiting positions at the International Monetary Fund and the Sloan School of Management at MIT.

Email: akraay@worldbank.org
Website:  https://sites.google.com/site/aartkraay

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Works by this author


  

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Do poverty traps exist ? (English)

This paper reviews the empirical evidence on the existence of poverty traps, understood as self-reinforcing mechanisms through which poor individuals or countries remain poor. ... See More +

Policy Research Working Paper WPS6835 APR 01, 2014

Kraay, Aart; McKenzie, David

Growth, inequality, and social welfare : cross-country evidence (English)

Social welfare functions that assign weights to individuals based on their income levels can be used to document the relative importance of growth and inequality changes for changes in social welfare. ... See More +

Policy Research Working Paper WPS6842 APR 01, 2014

Dollar, David; Kleineberg, Tatjana; Kraay, Aart

"Crowding in" and the returns to government investment in low-income countries (English)

This paper estimates the effect of government investment on private investment in a sample of 39 low-income countries. Fluctuations in a predetermined component of disbursements on loans from official creditors to developing country governments are used as an instrument for fluctuations in public investment. ... See More +

Policy Research Working Paper WPS6781 FEB 01, 2014

Eden, Maya; Kraay, Aart

Growth still is good for the poor (English)

Incomes in the poorest two quintiles on average increase at the same rate as overall average incomes. This is because, in a global dataset spanning 118 countries over the past four decades, changes in the share of income of the poorest quintiles are generally small and uncorrelated with changes in average income. ... See More +

Policy Research Working Paper WPS6568 AUG 01, 2013

Dollar, David; Kleineberg, Tatjana; Kraay, Aart

Misunderestimating corruption (English)

Estimates of the extent of corruption rely largely on self-reports of individuals, business managers, and government officials. Yet it is well known that survey respondents are reticent to tell the truth about activities to which social and legal stigma are attached, implying a downward bias in survey-based estimates of corruption. ... See More +

Policy Research Working Paper WPS6488 JUN 01, 2013

Kraay, Aart; Murrell, Peter

Aid, disbursement delays, and the real exchange rate (English)

Aid donors and recipients have long been concerned that aid inflows may lead to an appreciation of the real exchange rate and an associated loss of competitiveness. ... See More +

Policy Research Working Paper WPS6501 JUN 01, 2013

Jarotschkin, Alexandra; Kraay, Aart

Sovereign defaults and expropriations : empirical regularities (English)

This paper uses a large cross-country dataset to empirically examine factors associated with sovereign defaults on external private creditors and expropriation of foreign direct investments in developing countries since the 1970s. ... See More +

Policy Research Working Paper WPS6218 OCT 01, 2012

Qian, Rong; Eden, Maya; Kraay, Aart

Government spending multipliers in developing countries : evidence from lending by official creditors (English)

This paper uses a novel loan-level dataset covering lending by official creditors to developing country governments to construct an instrument for public spending that can be used to estimate government spending multipliers. ... See More +

Policy Research Working Paper WPS6099 JUN 01, 2012

Kraay, Aart

The World Bank economic review 25 (2) (English)

This paper is organized in following headings: has India's economic growth become more pro-poor in the wake of economic reforms?; are the poverty effects of trade policies invisible? ... See More +

Publication 80517 JUN 01, 2011

Datt, Gaurav; Ravallion, Martin; Verma, Monika; Kraay, Aart; Nyiri, Zsolt; Croser, Johanna L.; Anderson, Kym; Yilmazkuday, Hakan; Newhouse, David; Suryadarma, Daniel; Mont, Daniel; Cuong, Nguyen Viet

Corruption and confidence in public institutions : evidence from a global survey (English)

Well-functioning institutions matter for economic development. In order to operate effectively, public institutions must also inspire confidence in those they serve. ... See More +

Journal Article 81266 JUN 01, 2011

Clausen, Bianca; Kraay, Aart; Nyiri, Zsolt

Good countries or good projects ? macro and micro correlates of World Bank project performance (English)

The authors use data from more than 6,000 World Bank projects evaluated between 1983 and 2009 to investigate macro and micro correlates of project outcomes. ... See More +

Policy Research Working Paper WPS5646 MAY 01, 2011

Kaufmann, Daniel; Kraay, Aart; Denizer, Cevdet

How large is the government spending multiplier ? evidence from World Bank lending (English)

This paper proposes a novel method of isolating fluctuations in public spending that are likely to be uncorrelated with contemporaneous macroeconomic shocks and can be used to estimate government spending multipliers. ... See More +

Policy Research Working Paper WPS5500 DEC 01, 2010

Kraay, Aart

Does respondent reticence affect the results of corruption surveys ? evidence from the world bank enterprise survey for Nigeria (Vol. 1 of 1 ) (English)

A potential concern with survey-based data on corruption is that respondents may not be fully candid in their responses to sensitive questions. ... See More +

Policy Research Working Paper WPS5415 SEP 01, 2010

Clausen, Bianca; Murrell, Peter; Kraay, Aart

The worldwide governance indicators : methodology and analytical issues (English)

This paper summarizes the methodology of the Worldwide Governance Indicators (WGI) project, and related analytical issues. The WGI cover over 200 countries and territories, measuring six dimensions of governance starting in 1996: Voice and Accountability, Political Stability and Absence of Violence/Terrorism, Government Effectiveness, Regulatory Quality, Rule of Law, and Control of Corruption. ... See More +

Policy Research Working Paper WPS5430 SEP 01, 2010

Mastruzzi, Massimo; Kaufmann, Daniel; Kraay, Aart

Can disaggregated indicators identify governance reform priorities ? (English)

Many highly-disaggregated cross-country indicators of institutional quality and the business environment have been developed in recent years. The promise of these indicators is that they can be used to identify specific reform priorities that policymakers and aid donors can target in their efforts to improve institutional and regulatory quality outcomes. ... See More +

Policy Research Working Paper WPS5254 MAR 01, 2010

Tawara, Norikazu; Kraay, Aart

Corruption and confidence in public institutions : evidence from a global survey (English)

Well-functioning institutions matter for economic development. In order to operate effectively, public institutions must also inspire confidence in those they serve. ... See More +

Policy Research Working Paper WPS5157 DEC 01, 2009

Clausen, Bianca; Nyiri, Zsolt; Kraay, Aart

Governance matters VIII : aggregate and individual governance indicators 1996-2008 (English)

This paper reports on the 2009 update of the Worldwide Governance Indicators (WGI) research project, covering 212 countries and territories and measuring six dimensions of governance between 1996 and 2008: Voice and Accountability, Political Stability and Absence of Violence/Terrorism, Government Effectiveness, Regulatory Quality, Rule of Law, and Control of Corruption. ... See More +

Policy Research Working Paper WPS4978 JUN 01, 2009

Mastruzzi, Massimo; Kaufmann, Daniel; Kraay, Aart

Governance matters VII : aggregate and individual governance indicators 1996-2007 (English)

This paper reports on the latest update of the Worldwide Governance Indicators (WGI) research project, covering 212 countries and territories and measuring six dimensions of governance between 1996 and 2007: Voice and Accountability, Political Stability and Absence of Violence/Terrorism, Government Effectiveness, Regulatory Quality, Rule of Law, and Control of Corruption. ... See More +

Policy Research Working Paper WPS4654 JUN 01, 2008

Kaufmann, Daniel; Mastruzzi, Massimo; Kraay, Aart

Instrumental variables regressions with honestly uncertain exclusion restrictions (English)

The validity of instrumental variables (IV) regression models depends crucially on fundamentally untestable exclusion restrictions. Typically exclusion restrictions are assumed to hold exactly in the relevant population, yet in many empirical applications there are reasonable prior grounds to doubt their literal truth. ... See More +

Policy Research Working Paper WPS4632 MAY 01, 2008

Kraay, Aart

The World Bank research observer 23 (1) (English)

Governance indicators: where are we, where should we be going? By Daniel Kaufmann, and Aart Kraay. Two comments on "governance indicators: where are we, where should we be going?" ... See More +

Publication 47585 FEB 01, 2008

Kaufmann, Daniel; Kraay, Aart; Devarajan, Shantayanan; Johnson, Simon; Easterly, William; Irwin, Timothy; Serven, Luis; Gill, Indermit S.; Ozer, Ceren;; Tatucu, Radu; Cadot, Olivier; Melo, Jaime de;

Title Document Date Report No. Document Type Also available in
Do poverty traps exist ? (English)
See More +
APR 01, 2014 WPS6835 Policy Research Working Paper
Growth, inequality, and social welfare : cross-country evidence (English)
See More +
APR 01, 2014 WPS6842 Policy Research Working Paper
"Crowding in" and the returns to government investment in low-income countries (English)
See More +
FEB 01, 2014 WPS6781 Policy Research Working Paper
Growth still is good for the poor (English)
See More +
AUG 01, 2013 WPS6568 Policy Research Working Paper
Misunderestimating corruption (English)
See More +
JUN 01, 2013 WPS6488 Policy Research Working Paper
Aid, disbursement delays, and the real exchange rate (English)
See More +
JUN 01, 2013 WPS6501 Policy Research Working Paper
Sovereign defaults and expropriations : empirical regularities (English)
See More +
OCT 01, 2012 WPS6218 Policy Research Working Paper
Government spending multipliers in developing countries : evidence from lending by official creditors (English)
See More +
JUN 01, 2012 WPS6099 Policy Research Working Paper
The World Bank economic review 25 (2) (English)
See More +
JUN 01, 2011 80517 Publication
Corruption and confidence in public institutions : evidence from a global survey (English)
See More +
JUN 01, 2011 81266 Journal Article
Good countries or good projects ? macro and micro correlates of World Bank project performance (English)
See More +
MAY 01, 2011 WPS5646 Policy Research Working Paper
How large is the government spending multiplier ? evidence from World Bank lending (English)
See More +
DEC 01, 2010 WPS5500 Policy Research Working Paper
Does respondent reticence affect the results of corruption surveys ? evidence from the world bank enterprise survey for Nigeria (Vol. 1 of 1 ) (English)
See More +
SEP 01, 2010 WPS5415 Policy Research Working Paper
The worldwide governance indicators : methodology and analytical issues (English)
See More +
SEP 01, 2010 WPS5430 Policy Research Working Paper
Can disaggregated indicators identify governance reform priorities ? (English)
See More +
MAR 01, 2010 WPS5254 Policy Research Working Paper
Corruption and confidence in public institutions : evidence from a global survey (English)
See More +
DEC 01, 2009 WPS5157 Policy Research Working Paper
Governance matters VIII : aggregate and individual governance indicators 1996-2008 (English)
See More +
JUN 01, 2009 WPS4978 Policy Research Working Paper
Governance matters VII : aggregate and individual governance indicators 1996-2007 (English)
See More +
JUN 01, 2008 WPS4654 Policy Research Working Paper
Instrumental variables regressions with honestly uncertain exclusion restrictions (English)
See More +
MAY 01, 2008 WPS4632 Policy Research Working Paper
The World Bank research observer 23 (1) (English)
See More +
FEB 01, 2008 47585 Publication