Document Type: Program Information Document Report No.: PIDC26962 Document Date: JUN 26, 2019

Author: Najdov,Evgenij Disclosure Status: Disclosed

Document Type: Implementation Status and Results Report Report No.: ISR37466 Document Date: JUN 20, 2019

Author: Clarke,Roland N. Disclosure Status: Disclosed

More and more developing country governments are tapping the global debt capital markets. Thisis increasing the amount of finance available for development, but at a considerably higher costthan traditional external borrowing on concessional terms. ... See More + Using a novel methodology based onestimating sovereign credit ratings using the Moody's scorecard, and examining the associationsbetween these ratings and the World Bank's Country Policy and Institutional Assessment (CPIA)scores, this paper examines how making improvements in the quality of economic policies andinstitutions can help lower governments' financing costs. Better CPIA scores are associated withbetter estimated ratings and materially lower financing costs; on average, improvements which aresufficient to increase a CPIA indicator score by 1 point are associated with interest costs which are lower by about 170 basis points. Estimated cost savings are the largest for countries with weaker initial ratings and commensurately high external debt issuance costs, consistent with governance concerns contributing significantly to the large risk premia faced by weaker borrowers.  See Less -

Document Type: Working Paper (Numbered Series) Report No.: 137639 Document Date: JUN 01, 2019

Author: Sienaert,Alexis; Brown,Michael Andrew Disclosure Status: Disclosed

Document Type: Program Information Document Report No.: PIDC27030 Document Date: MAY 05, 2019

Author: Ezemenari,Kenechukwu Maria Disclosure Status: Disclosed

Document Type: Report Report No.: AUS0000784 Document Date: MAY 01, 2019

Disclosure Status: Disclosed

Document Type: Procurement Plan Report No.: STEP20050 Document Date: APR 24, 2019

Author: Daniel Foli Disclosure Status: Disclosed

Document Type: Implementation Status and Results Report Report No.: ISR36361 Document Date: APR 09, 2019

Author: Megnan,Kolie Ousmane Maurice Disclosure Status: Disclosed

Document Type: Implementation Status and Results Report Report No.: ISR36080 Document Date: APR 01, 2019

Author: Wang,Hyoung Gun Disclosure Status: Disclosed

The fiscal position can affect fiscal multipliers through two channels. Through the Ricardian channel, households reduce consumption in anticipation of future fiscal adjustments when fiscal stimulus is implemented from a weak fiscal position. ... See More + Through the interest rate channel, fiscal stimulus from a weak fiscal position heightens investors' concerns about sovereign credit risk, raises economy-wide borrowing cost, and reduces private domestic demand. The paper documents empirically the relevance of these two channels using an Interactive Panel Vector Auto Regression model. It finds that fiscal multipliers tend to be smaller when fiscal positions are weak than strong.  See Less -

Document Type: Policy Research Working Paper Report No.: WPS8784 Document Date: MAR 20, 2019

Author: Huidrom,Raju; Kose,Ayhan; Lim,Jamus Jerome; Ohnsorge,Franziska Lieselotte Disclosure Status: Disclosed

Document Type: Board Report Report No.: 135416 Document Date: MAR 12, 2019

Disclosure Status: Disclosed