Cambodia’s economic activity continues to expand, led bysolid growth in garment exports and strong constructionactivity. Real growth is projected to reach 7.0 percent i
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Indonesia has made a steady progress in implementing trade reforms in recent years and this has been one of several factors helping formal sector employment to expand reducing poverty levels and expanding the ranks of Indonesia’s middle class.
... See More + In addition, Indonesia has been more fortunate than its neighbors in coming through global financial crisis relatively unscathed. Going forward, an aggressive push on trade reform designed to achieve higher growth will help to increase employment opportunities in higher-value industries, while also increasing international and domestic trade. A number of on-going efforts are designed to streamline and simplify trade-related procedures, but require a great effort to yield results.
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The political and social upheavals that followed the Arab Spring of 2011 continue to dominate economic activity and near term prospects in the Middle East and North Africa (MENA).
... See More + Prior to the Arab Spring, aggregate investment and foreign direct investment (FDI) flows to MENA followed the rest of the world. This report shows that political turbulence since the early 2000s has affected not only the level of FDI in MENA, but also its composition. It has skewed towards activities that create the least jobs or that create jobs in non-resource tradable manufacturing and services needed for export upgrading and diversification. By hurting these efficiency-seeking investments, shocks to political stability exacerbate the clustering of FDI in the extractive industries and non-resource tradable sectors. The findings of the report outline several policy challenges and priorities. The report argues that MENA countries may find themselves in a resource trap unless they strengthen institutions and improve the investment climate, especially political and macroeconomic stability. Protecting the rule of law and property rights, and committing to stable and transparent policies will encourage investment, especially foreign investment in the labor-intensive non-oil manufacturing and service sectors of MENA, and thus job creation, growth, and structural transformation. Structural reforms address privileged businesses, macroeconomic imbalances, expensive subsidies, inadequate provision of infrastructure services, problems with education, and poorly functioning labor markets. These structural issues constrain growth with grim consequences for the unemployment problem, especially among youth and women. Achieving a consensus on political reforms is a necessary pre-requisite for sustainable, high growth in developing MENA.
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Global capital rebalancing has highlighted structural weakness and vulnerability in South Asia, acting as a wake-up call for policy makers. While recent economic developments in advanced countries are encouraging, large parts of the South Asian region continue to slow.
... See More + Portfolio capital outflows, triggered by the prospect of unwinding quantitative easing in the US, have made current account deficits more difficult to finance across emerging countries. Meanwhile, supply-side constraints and macroeconomic imbalances remain to be tackled in most South Asian countries. But the depreciation of regional currencies offers a great opportunity to kick start exports and growth, and provides the space to re-engage reforms to create a conducive investment climate. This paper on the biannual regional economic update and outlook for South Asia includes the following headings: recent economic developments; outlook and policy; focus: business cycle transmission to and within South Asia; South Asia country briefs on Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Paklsitan, and Sri lanka; South Asia at a glance; and notes.
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This overview, followed by five supporting reports, identifies these challenges of tomorrow, points to key choices ahead, and recommends not just what needs to be reformed, but how to undertake the reforms.
... See More + The overview is divided into nine chapters. The first chapter examines the characteristics of Chinas development since 1978; considers future opportunities, challenges, and risks; and describes a vision of China in the year 2030. The second chapter maps a new strategy that will realize this vision, focusing on the key choices ahead for China to sustain rapid economic and social development and become a modern, harmonious, and creative high-income society before 2030. Chapters three to eight elaborate on each of the six pillars of the new strategy: consolidating Chinas market foundations; enhancing innovation; promoting green development; ensuring equality of opportunity and social protection for all; strengthening public finances; and achieving mutually beneficial win-win relations between China and the rest of the world. The ninth and final chapter addresses implementation challenges, including the sequencing of reforms and overcoming obstacles that are likely to emerge.
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This overview, followed by five supporting reports, identifies these challenges of tomorrow, points to key choices ahead, and recommends not just what needs to be reformed, but how to undertake the reforms.
... See More + The overview is divided into nine chapters. The first chapter examines the characteristics of Chinas development since 1978; considers future opportunities, challenges, and risks; and describes a vision of China in the year 2030. The second chapter maps a new strategy that will realize this vision, focusing on the key choices ahead for China to sustain rapid economic and social development and become a modern, harmonious, and creative high-income society before 2030. Chapters three to eight elaborate on each of the six pillars of the new strategy: consolidating Chinas market foundations; enhancing innovation; promoting green development; ensuring equality of opportunity and social protection for all; strengthening public finances; and achieving mutually beneficial win-win relations between China and the rest of the world. The ninth and final chapter addresses implementation challenges, including the sequencing of reforms and overcoming obstacles that are likely to emerge.
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This book examines the state and the fate of the Doha Development Agenda (DDA). The volume has three key objectives: to provide qualitative and quantitative information about the implications of what is currently on the table; to examine controversial areas where further progress might be made; and to identify lessons that might be of use for future negotiations.
... See More + The analysis provides some suggestions for future negotiations, whether they involve comprehensive renegotiation of issues covered under the Doha Agenda, or entirely new negotiations. Conclusions include: there is much in the proposals already on the table; substantially more might be achieved in some key areas; and there is a case for new approaches in future negotiations. Finally, the volume identifies several critical trade-related matters that lie outside the DDA, such as the trade and trade policy implications of climate change mitigation, exchange rate management, food security, and energy security.
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Publication 65456 NOV 01, 2011
Martin, Will; Mattoo, Aaditya; Winkler, Deborah; Laborde, David; Blandford, David; Josling, Tim; Borchert, Ingo; Gootiiz, Batshur; Bouët, Antoine; Grant, Jason; Meilke, Karl; Taylor, Benjamin J.; Wilson, John S.; Hoekman, Bernard; van der Mensbrugghe, Dominique; Anderson, Kym; Nelgen, Signe; Brown, Chad P.; Prusa, Thomas J.; Subramanian, ArvindDisclosed
Lao PDR's real Gross Domestic Product (GDP) growth will remain robust in 2011 with projected growth of 8.6 percent compared to 8.4 percent in 2010.
... See More + Natural resources and manufacturing sectors are expected to drive growth this year. The expected growth in the garment exports (by about 15-20 percent in this year) follows the European Union (EU) relaxation in raw material sourcing requirement and increased orders by key garment producers. The service sector also shows signs of improvement, particularly in transport, tourism (hotels and restaurants) and retail trading. Agriculture (fishery, livestock and crops) is expected to benefit from the recent increase in regional demand and higher food prices. Out of 8.6 percent growth in 2011, about 3.6 percentage points come from the resource sectors, about 1 percentage point each from manufacturing and agriculture, 0.5 percentage points from construction and 2.5 percentage points from services. Although overall trade balance is expected to improve the current account deficit is expected to widen slightly too about 9.4 percent of GDP in 2011 from about 8.6 percent in 2010 mainly on the account of larger transfers of profits and debt service payments abroad by large resource projects. Thus, resource current account surplus is expected to decrease to 4.8 percent of GDP in this year from about 5.5 percent in 2010.
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This Results Profile talks about enhancing enterprise competitiveness in Moldova. The unfavorable business environment was one of the main constraints to improvements in productivity and competitiveness of Moldovan enterprises.
... See More + The Competitiveness Enhancement Project supported major improvements in the business environment in Moldova, reducing the time required to register a company and comply with regulatory requirements and cutting the number of annual inspections. Further, the project improved competitiveness and export capacity of businesses by supporting implementation of International Organization for Standardization quality certification and offering exporter’s access to long-term financing.
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This Results Profile talks about enhancing enterprise competitiveness in Moldova. The unfavorable business environment was one of the main constraints to improvements in productivity and competitiveness of Moldovan enterprises.
... See More + The Competitiveness Enhancement Project supported major improvements in the business environment in Moldova, reducing the time required to register a company and comply with regulatory requirements and cutting the number of annual inspections. Further, the project improved competitiveness and export capacity of businesses by supporting implementation of International Organization for Standardization quality certification and offering exporter’s access to long-term financing.
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This Results Profile talks about The Business Environment Reform and Institutional Strengthening Project (BERIS) in Former Yugoslav Republic of Macedonia.
... See More + The economy faced numerous challenges, such as a weak judicial sector, low competitiveness in an increasingly global market, slow materialization of foreign direct investments, and significant regulatory and institutional weaknesses that reduced investor confidence and affected the private sector’s ability to compete. In addition, national Metrology, Standardization, Testing and Quality system was outdated, which deprived the Macedonian enterprises of the appropriate means to control the quality of imported goods or to certify that the quality of their exported goods meets required standards. The World Bank provided assistance with policy reforms and capacity building through a combination of complementary investment and policy lending. BERIS assisted the government in implementing selected policy areas supported by a parallel series of Development Policy Loans. The project also accomplished notable improvements in the business environment by considerably simplifying and streamlining the regulatory environment for opening, operating and closing a business. As a result, investor protection was strengthened and the company law was revised in line with the European Union (EU) requirements. Business registration had been simplified and shortened to one day through the creation of a one-stop shop at the Central Registry. New calibration equipment for the Bureau of Metrology broadened the calibration services to companies in line with EU requirements and quality standards and increased their export potential and competitiveness.
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According to the national accounts of Iran, during the period of 1988-2003 the annual change in inventories in this economy was highly variable and averaged 7.3 percent of GDP if calculated at current prices.
... See More + In an ideal economy with no distortions, change in inventories should be zero on average for a sufficiently large period. Because of inefficiencies and statistical errors, in developing countries it typically falls in a range between one and two percent of GDP. The figure for Iran exceeds not only this range, but also economy's real GDP growth, which averaged 4.3 percent for this period. In this paper the authors argue that variation in the change in inventories in Iran could be explained by a number of factors including: impact of cost of capital effect and supply shocks expectations in a context of high dependency on the oil revenues and imports of capital or intermediary goods; periodical softening and hardening of budget constraints of the public enterprises; variations in statistical errors related to differentials between PPI and CPI inflation; and possibly shifting financial constraints which may bind on private purchases of goods and services. Further, there is evidence to suggest that high average change in inventories could be explained by capital flight hidden in the imports statistics, by wasting some of the over accumulated inventories under the soft budget constraint, and by statistical errors and omissions.
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Working Paper (Numbered Series) 37849 SEP 01, 2006
Dobronogov, Anton; Jalali-Naini, Ahmad R.Disclosed
This is the Annual Report on the operation of the International Centre for Settlement of Investment Disputes (ICSID) required by Article 6(1)(g) of the Convention on the Settlement of Investment Disputes between States and Nationals of Other States.
... See More + This Annual Report covers the fiscal year July 1, 2005 to June 30, 2006. In fiscal year 2006, the number of ICSID pending cases reached an all-time high of 118. The total number of conciliation and arbitration proceedings registered with the Centre since its inception rose to 210 with the addition of 26 new arbitration cases instituted in the course of the fiscal year. The Secretariat continued its efforts to mitigate the impact of the significant caseload involving large and complex disputes by promoting more efficient ways of case management. During the year, ICSID's membership grew to 143 Contracting States following the ratification of the ICSID Convention by Syria.
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This regional report for Khabarovsk Krai in Russia is part of a survey that was conducted in the period from February the 1st to October the 17th, in 15 regions of Russia: Irkutsk, Nizhniy Novgorod, Novosibirsk, Rostov, Perm, Sakhalin, Kaliningrad, Leningrad, Moscow, Sverdlovsk, Tomsk and Novgorod Oblasts, Khabarovsk Krai and the cities of Saint Petersburg and Moscow.
... See More + Among the procedures that imply obtaining land plot either as ownership or tenancy the overwhelming majority of legal entities and sole proprietors that attempted, underwent, or completed locating procedures in 2004 passed the procedure for obtaining tenancy rights. In respect to legal entities and sole proprietors providing intermediary services for locating procedures, it is impossible to pick out any tendency on account of low count of the respondents who passed the appropriate procedures. The most frequently completed procedure connected with real estate objects (building, structure, premise) for ARCS companies became the procedure of leasing a real estate object (building, structure, premise), which is municipal property without the procedure of tender (including purposive appointment cases). This paper includes a main report and an annex.
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This paper first explains the potential importance of World Trade Organization (WTO) accession as a development tool, and discusses the recent successful development models and the role of trade policy in their development.
... See More + The paper then summarizes the three parts of the Handbook. The first part treats trade policy (with applications to Russia and the Commonwealth of Independent States [CIS]). The second part treats World Trade Organization institutions and disciplines, again with Russia and CIS applications. And the third part focuses on various aspects of the impact of WTO accession on Russia.
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This Sourcebook has been prepared to help in implementing the World Bank's current rural strategy, by sharing information on investment options and innovative approaches that will aid the design of future lending programs for agriculture.
... See More + The Sourcebook provides generic good practices and many examples that demonstrate that investment in agriculture can provide rewarding and sustainable returns to development efforts. The contents have been assembled from all regions and thematic groups of the Bank, and from the experiences of many partners. The Sourcebook is intended as a ready reference for practitioners (World Bank staff and their partners in borrowing countries) seeking summary information on the state of the art about good practice for agricultural investments, and innovative activities that merit close monitoring for potential scaling up. The Sourcebook is divided into eleven self-contained modules. Each module contains three different types of subunits, which can also be stand-alone documents. The Sourcebook thus provides introductions to topics, but not detailed guidelines on " how to " design and implement investments. The standalone nature of each subunit of the Sourcebook allows flexibility and adaptability of the materials, but necessarily results in some replication of the issues covered.
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