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Developing the private sector : a challenge for the World Bank Group (Inglês)

In the past few decades public sector activity has expanded greatly in many developing countries. This expansion has frequently stifled private initiative and market forces and has reduced the flexibility with which economies can respond to the rapid changes in the international environment. This presents an opportunity and a challenge for the World Bank Group to intensify its efforts and find new ways to support private sector development (PSD) in the developing world. PSD requires three main elements: 1) a supportive business environment; 2) the services in infrastructure and human resource development necessary to permit private enterprises to function effectively; and 3) a financial system that provides the incentives and institutions needed to mobilize and allocate financial resources efficiently. In all three areas, government has a critical supporting role to play. In fact, the reform of government policy and institutions is a critical component of better performance in the private sector. The Bank Group has traditionally carried out a significant amount of activity and financing that supports PSD, but gaps remain in some areas of the Bank's PSD work. The report explores how private sector development can contribute to overall development and recommends a variety of ways to harness the energies of the institutions in the Bank Group.


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    Gustafson, Douglas Jimenez, Emmanual Linn, Johannes F.

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    Developing the private sector : a challenge for the World Bank Group

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    mobility of factors of production;legal and regulatory framework;economic and sector work;institution need;personal income tax rate;centrally planned economy;role of state;transfer of ownership;structural adjustment loan;reduction in subsidies;structural adjustment lending;current account deficit;divestiture of state;trade policy reform;private sector enterprise;public sector activity;private initiative;distribution of investment;provision of credit;public sector institution;financial market policy;private sector initiative;public expenditure priority;private sector service;public sector counterpart;domestic financial market;public sector deficit;flow of information;rate of investment;sector adjustment loan;central government spending;financial market development;international capital flow;legal and accounting;interest rate ceiling;real exchange rate;overvalued exchange rate;highly indebted country;Civil Service Reform;land tenure security;nominal exchange rate;power and water;company income tax;protectionist trade policy;private sector activity;balance of payment;international economic development;country economic memoranda;debt service problem;public spending program;tax for example;transfer of resource;forms of production;validity of contract;scope of monopoly;infrastructure and services;capital market development;foreign direct investment;support privatization;direct foreign investment;privatizing public enterprise;private sector solution;Financial Sector;Trade Policies;tax policy;incentive system;private producer;special incentives;government effort;macroeconomic condition;Tax Reform;foreign investor;central planning;market force;market failure;incentive scheme;Macroeconomic Policy;private activity;private enterprise;competitive market;regulatory environment;market environment;enabling environment;social cost;rapid change;tax structure;economic crisis;public revenue;price signal;incentive policy;policy study;human infrastructure;industrial sector;private investment;informal sector;financial intermediaries;price control;international environment;market economy;domestic production;public intervention;fiscal policy;financial system;Fiscal policies;organizational responsibilities;budget deficit;economic efficiency;financial resource;infrastructure service;public policy;sectoral adjustment;protectionist policy;meat market;international competitiveness;DEC Policy Review;social objective;tenure system;rural land;high tax;private production;external review;analytical models;macroeconomic instability;trade regime;economic history;international economy;social infrastructure;operational staff;International Trade;import tariff;reform implementation;production plan;investment climate;state sector;property right;cooperative movement;government commitment;primary focus;import control;import substitution;industrial structure;adequate consideration;outward orientation;neutral trade;business environment;relative price;traditional development;economic rent;private cost;general taxes;complementary action;long-term finance;domestic industry;tax revenue;short-term goal;operational work;commercial risk;socioeconomic systems;strategic framework;trade strategy;government issue;staff resource;physical infrastructure;foreign exchange;policy shift;skill base;urban sector;small-scale enterprise;tax burden;market system;Socialist economies;banking system;financial cost;poverty alleviation;agricultural activity;international business;domestic competition;essential goods;business condition;domestic entrepreneur;collaborative effort;Public Services;benefit definition;public monopoly;red tape;multinational corporation;government intervention;international competition;price reform;price dynamic;production decision;industrial tariff;export taxation;rising cost;government regulation;investment incentive;financial discipline;export incentive;tax rebate;research study;budgetary investment;market orientation;economic sector;regional policy;efficient price



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