83 results on '"PLEDGES"'
Search Results
2. (Un)Trustworthy pledges and cooperation in social dilemmas.
- Author
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Goeschl, Timo and Soldà, Alice
- Subjects
- *
TRUST , *DILEMMA , *GOVERNMENT policy on climate change , *COOPERATION ,PARIS Agreement (2016) - Abstract
The 2015 Paris Agreement on climate change introduced Intended Nationally Determined Contributions (INDCs) into the process. INDCs share many features of pledges, i.e. public statements by parties in which they announce how they will behave in the social dilemma in the future. Prior evidence on how pledges enhance cooperation is inconclusive, however. We explore how differences in the information about pledgers' trustworthiness affect outcomes in a social dilemma that parallels climate change. In an online experiment, two participants interact with a randomly matched third player in a repeat maintenance game with a pledge stage. Treatments manipulate whether the third player is more or less trustworthy; and whether trustworthiness is observable. Disentangling composition and information effects, we find that only trustworthy pledgers can leverage the pledge stage for cooperation. This can explain evidence from social dilemmas such as international climate policy that reputational mechanisms in International Environmental Agreements are only effective when high-reputation countries are involved. • Prior evidence on how pledges enhance cooperation is inconclusive. • An experiment manipulates a pledger's trustworthiness and others' awareness thereof. • We find that only trustworthy pledgers can leverage the pledge stage for cooperation. • This can explain evidence from social dilemmas such as international climate policy. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
3. Pledging one’s trustworthiness through gifts: An experiment
- Author
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Giuseppe Danese and Luigi Mittone
- Subjects
pledges ,gifts ,time delay ,trust game ,tokens ,Social Sciences ,Psychology ,BF1-990 - Abstract
Ethnographers have recorded many instances of tokens donated as gifts to attract new partners or strengthen ties to existing ones. We study whether gifts are an effective pledge of the donor’s trustworthiness through an experiment modeled on the trust game. We vary whether the trustee can send a token before the trustor decides whether to transfer money; whether one of the tokens is rendered salient through experimental manipulations (a vote or an incentive-compatible rule of purchase for the tokens); and whether the subjects interact repeatedly or are randomly re-matched in each round. Tokens are frequently sent in all studies in which tokens are available, but repeated interaction, rather than gifts, is the leading behavioral driver in our data. In the studies with random pairs, trustors send significantly more points when the trustee has sent a token. Subjects in a fixed matching achieve comparable levels of trust and trustworthiness in the studies with and without tokens. The trustee’s decision to send a token is not predictive of the amount the trustee returns to the trustor. A token is used more sparingly whenever salient — a novel instance of endogenous value creation in the lab.
- Published
- 2022
- Full Text
- View/download PDF
4. Pledging one's trustworthiness through gifts: An experiment.
- Author
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Danese, Giuseppe and Mittone, Luigi
- Subjects
- *
TRUST , *VALUE creation - Abstract
Ethnographers have recorded many instances of tokens donated as gifts to attract new partners or strengthen ties to existing ones. We study whether gifts are an effective pledge of the donor's trustworthiness through an experiment modeled on the trust game. We vary whether the trustee can send a token before the trustor decides whether to transfer money; whether one of the tokens is rendered salient through experimental manipulations (a vote or an incentive-compatible rule of purchase for the tokens); and whether the subjects interact repeatedly or are randomly re-matched in each round. Tokens are frequently sent in all studies in which tokens are available, but repeated interaction, rather than gifts, is the leading behavioral driver in our data. In the studies with random pairs, trustors send significantly more points when the trustee has sent a token. Subjects in a fixed matching achieve comparable levels of trust and trustworthiness in the studies with and without tokens. The trustee's decision to send a token is not predictive of the amount the trustee returns to the trustor. A token is used more sparingly whenever salient -- a novel instance of endogenous value creation in the lab. [ABSTRACT FROM AUTHOR]
- Published
- 2022
- Full Text
- View/download PDF
5. Do pledges lead to more volunteering? An experimental study.
- Author
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Capra, C. Mónica, Jiang, Bing, and Su, Yuxin
- Subjects
- *
VOLUNTEERS , *VOLUNTEER service , *CHARITABLE giving , *ALTRUISM - Abstract
The effect of pledges on donations is ambiguous. Pledges can boost donations because pledges make it easier for people to accept a request without incurring the costs of donating right away. However, pledges can also decrease donations because individuals who pledge renege on their promises. In this paper, we study the effect of pledges on volunteering using an online experiment. We find that pledges decrease immediate rejection to volunteering requests, but pledges are often reneged later, resulting in no overall change in volunteering rates. We provide a theoretical framework for understanding the conditions under which these results emerge. [ABSTRACT FROM AUTHOR]
- Published
- 2022
- Full Text
- View/download PDF
6. Washington International Renewable Energy Conference 2008 Pledges: Methodology and Assumptions Summary
- Author
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Wise, A
- Published
- 2008
- Full Text
- View/download PDF
7. Washington International Renewable Energy Conference (WIREC) 2008 Pledges. Methodology and Assumptions Summary
- Author
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Wise, Alison [National Renewable Energy Lab. (NREL), Golden, CO (United States)]
- Published
- 2008
- Full Text
- View/download PDF
8. Capturing the legislative priorities of transnational Europarties and the European Commission: A pledge approach.
- Author
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Kostadinova, Petia and Giurcanu, Magda
- Subjects
- *
POLITICAL parties , *ELECTIONS - Abstract
This article presents a new dataset of pledges made by Europarties during the 2004 and 2009 European Parliament elections, as well as pre-legislative priorities of the European Commission following these elections. The data cover two legislative cycles in the period 2004–2013. The article discusses the rationale behind the development of this dataset, the coding, and the measurement of the variables, and it highlights the applicability of these data. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
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9. Ideological congruence between party rhetoric and policy-making.
- Author
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Bischof, Daniel
- Subjects
- *
POLITICAL parties , *LAW , *POLITICAL competition , *POLICY sciences , *RHETORIC & politics , *POLITICAL communication , *NUCLEAR energy policy , *FUKUSHIMA Nuclear Accident, Fukushima, Japan, 2011 - Abstract
Scholars, citizens and journalists alike question whether political parties keep their electoral promises. A growing body of literature provides empirical evidence that parties do indeed keep their electoral pledges. Yet little is known about the congruence between party rhetoric between elections and the policies delivered by them. Given the increasing influence of party rhetoric in the media with respect to voting decisions, it is highly relevant to understand if parties ‘walk like they talk’. The article suggests that due to electoral reasons parties face strong incentives to deliver policy outputs which are congruent to their daily rhetoric. Analysing data on 54 policy outputs on nuclear energy, drafted by 24 parties after the Fukushima accident, the analysis finds overwhelming evidence that parties deliver ideologically congruent policy outputs to their rhetoric (incongruent only in 7.89%). These findings have important implications for our understanding of the linkage between party communication and the masses in modern media democracies. [ABSTRACT FROM PUBLISHER]
- Published
- 2018
- Full Text
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10. Making a 'Pledge': Moral Suasion and Health Promotion Practice
- Author
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Glenn Laverack
- Subjects
health promotion ,moral suasion ,harm reduction ,fear-based interventions ,health coaching ,pledges ,motivational interviewing ,Technology ,Science (General) ,Q1-390 - Abstract
Moral suasion offers a versatile and low-cost approach to influence social norms and risky health behaviours, but is often neglected in health promotion in favour of using educational approaches. The purpose of this paper is to discuss the challenges and the benefits of using moral suasion in health promotion. Past and present experiences of using moral suasion to promote health are discussed in conjunction with other approaches, such as harm reduction. The challenge of using moral suasion as an approach is that it focuses on individual behaviour change, rather than addressing the broader structural causes of poor health. However, the paper concludes that the versatility of the moral suasion approach and the success of using “pledges„ means that it can be an important intervention, alongside other educational and motivational techniques, to help to change behaviours at the individual and collective levels.
- Published
- 2018
- Full Text
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11. Granting Security Interests over Tangible Moveable Property in Sweden: A Comparative Study with the Australian System.
- Author
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Frixou, James
- Subjects
COLLATERAL security ,PERSONAL property ,COMPARATIVE law - Abstract
This article examines the current system in Sweden for creating and perfecting security interests over tangible moveable property and the recent proposed changes to the law, which, if enacted, will overhaul long-standing legal principles that have been part of the Swedish legal system fo r approximately one hundred years. The advantages and disadvantages of the proposed changes are discussed and a comparison is drawn to the Australian system which has undergone extensive reform in recent years in this particular area. Note that this article was written on 14 September 2015 so is updated as per the law as of that date and no later. [ABSTRACT FROM AUTHOR]
- Published
- 2015
12. Comparative institutional analysis for public health
- Author
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Dirk Ruwaard, Mark Petticrew, Nicholas Mays, Cécile Knai, Maria Jansen, Marleen Bekker, Jan-Kees Helderman, Health Services Research, and RS: CAPHRI - R2 - Creating Value-Based Health Care
- Subjects
RESPONSIBILITY DEAL ,medicine.medical_specialty ,Civil society ,Governance and Innovation in Social Services (GAINS) ,Public administration ,Public-Private Sector Partnerships ,03 medical and health sciences ,Politics ,Adversarial system ,0302 clinical medicine ,Political science ,050602 political science & public administration ,medicine ,Institutional analysis ,Humans ,Life Science ,030212 general & internal medicine ,Cooperative Behavior ,Gezondheid en Maatschappij ,Netherlands ,Government ,Social Responsibility ,Corporate governance ,Public health ,Health Policy ,05 social sciences ,Public Health, Environmental and Occupational Health ,GOVERNANCE ,Articles ,POLICY ,0506 political science ,PLEDGES ,Health and Society ,England ,Accountability ,Public Health ,PRIVATE PARTNERSHIP ,Delivery of Health Care ,Public Health Administration - Abstract
Democratic institutions and state-society relations shape governance arrangements and expectations between public and private stakeholders about public health impact. We illustrate this with a comparison between the English Public Health Responsibility Deal (RD) and the Dutch ‘All About Health…’ (AaH) programme. As manifestations of a Whole-of-Society approach, in which governments, civil society and business take responsibility for the co-production of economic utility and good health, these programmes are two recent collaborative platforms based on voluntary agreements to improve public health. Using a ‘most similar cases’ design, we conducted a comparative secondary analysis of data from the evaluations of the two programmes. The underlying rationale of both programmes was that voluntary agreements would be better suited than regulation to encourage business and civil society to take more responsibility for improving health. Differences between the two included: expectations of an enforcing versus facilitative role for government; hierarchical versus horizontal coordination; big business versus civil society participants; top-down versus bottom-up formulation of voluntary pledges and progress monitoring for accountability versus for learning and adaptation. Despite the attempt in both programmes to base voluntary commitments on trust, the English ‘shadow of hierarchy’ and adversarial state-society relationships conditioned non-governmental parties to see the pledges as controlling, quasi-contractual agreements that were only partially lived up to. The Dutch consensual political tradition enabled a civil society-based understanding and gradual acceptance of the pledges as the internalization by partner organizations of public health values within their operations. We conclude that there are institutional limitations to the implementation of generic trust-building and learning-based models of change ‘Whole-of-Society’ approaches.
- Published
- 2018
13. Honesty and Full Disclosure.
- Subjects
HONESTY ,DISCLOSURE ,FUNDRAISING ,ETHICS ,EXECUTIVE compensation ,INTERPERSONAL relations - Abstract
Questions about ethical fundraising frequently focus on donor privacy, bonus structures, executive compensation, personal relationships between donors and staff members, and fundraising costs. These queries usually reveal issues of honesty and full disclosure. This chapter offers guidance on ethical issues requiring honesty and full disclosure. [ABSTRACT FROM AUTHOR]
- Published
- 2013
- Full Text
- View/download PDF
14. Explaining coalition-bargaining outcomes: Evidence from Austria, 2002–2008.
- Author
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Schermann, Katrin and Ennser-Jedenastik, Laurenz
- Subjects
- *
COALITION governments , *POLITICAL parties , *GOVERNMENT policy , *IDEOLOGY , *CONTENT analysis , *SCHOLARS - Abstract
Most analyses of policy outcomes from coalition-bargaining have hitherto been conducted within a spatial framework that requires the aggregation of coalition policy into a small number of point estimates. Such an approach, however, is limited in terms of the level of specificity at which it can operate. This article therefore draws on the methodology from the pledge fulfilment literature in order to provide a more in-depth examination of coalition-bargaining outcomes. We are thus able to take advantage of the fact that contemporary coalition agreements provide a wealth of detailed information on the government’s prospective course of policy action. Based on a quantitative text analysis of election manifestos, a dataset of over 1,000 election pledges is used to test a number of hypotheses on the adoption of policies in Austrian coalition agreements between 2002 and 2008. The multivariate models yield strong support for the hypotheses and suggest that the methodological approach has the potential to enhance our understanding of coalition-bargaining. [ABSTRACT FROM PUBLISHER]
- Published
- 2014
- Full Text
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15. Economic Monitoring Report to the Ad Hoc Liaison Committee
- Author
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World Bank
- Subjects
BUDGET DEFICITS ,INVESTMENT ,TAX EXEMPTIONS ,INFRASTRUCTURE ,PRIVATE INVESTMENT ,CREDIT GUARANTEE ,LIQUIDATION ,INFLATION ,BLACK MARKET ,PRIVATE LENDING ,FISCAL DEFICIT ,EMPLOYMENT ,WATER ,INDIRECT COSTS ,DIGITAL TECHNOLOGY ,INVESTOR CONFIDENCE ,UNEMPLOYMENT ,RENEWABLE ENERGY ,INVESTMENTS ,TRADE SECTORS ,GOVERNMENT POLICY ,MIDDLEMEN ,PLEDGE ,FISCAL BURDEN ,STOCK ,RECOVERY ,POVERTY ,INVESTORS ,PENSION ,HUMAN CAPITAL DEVELOPMENT ,REGULAR PAYMENTS ,SHARES ,PUBLIC FINANCES ,TRANSACTIONS ,NON-PERFORMING LOANS ,FRAUD ,DOMESTIC BANK ,PUBLIC SPENDING ,ECONOMIC RECOVERY ,DIGITAL IN ,REFORM AGENDA ,INTERESTS ,MORTGAGE ,BANK ACCOUNTS ,PENSIONS ,DEPOSITS ,INSTITUTIONAL CAPACITY ,MARKETS ,PROFIT ,DIGITAL DIVIDE ,ECONOMIC TRANSACTIONS ,CORONOAVIRUS ,BANKING ,public financial management ,TAX COLLECTIONS ,MONETARY POLICY ,GOVERNMENT EXPENDITURES ,DEFICIT FINANCING ,FOREIGN BANKS ,DISBURSEMENT ,LIQUIDITY ,FISCAL DEFICITS ,ARREARS ,INCOME LEVELS ,GUARANTEES ,DISTRIBUTION OF CREDIT ,MARKET ,GAZA ,PROPERTY ,CASH FLOW ,BUDGET DEFICIT ,LENDING PORTFOLIOS ,FIXED CAPITAL ,TAX RATE ,TAX SYSTEMS ,TAX OBLIGATION ,DISBURSEMENTS ,CURRENCIES ,CONTINGENT LIABILITY ,CRISIS MANAGEMENT ,BANKRUPTCY ,TAX OBLIGATIONS ,REPAYMENT SCHEDULE ,BUDGETS ,BONDED WAREHOUSES ,GOVERNMENT REVENUES ,INCOME TAX ,SECURITY ,DOMESTIC BORROWING ,LOCAL GOVERNMENT ,Palestinian Authority ,REGULATORY FRAMEWORK ,DECENTRALIZATION ,LIABILITY ,ENERGY SECURITY ,EXCHANGE RATE ,GOOD ,EQUIPMENT ,TELECOMMUNICATIONS ,REVENUE ,CURRENCY ,RECURRENT DEFICIT ,PRIVATE CREDIT ,WASTEWATER ,INCOME LEVEL ,TRADE FINANCE ,LOAN ,COMMODITY PRICES ,PUBLIC FINANCE ,DEVELOPING COUNTRIES ,NONPERFORMING LOANS ,FUTURE ,HUMANITARIAN CRISIS ,MONEY AND BANKING ,FISCAL SUSTAINABILITY ,CREDIT HISTORY ,REPAYMENT ,ISSUANCE ,DOMESTIC ARREARS ,INVESTOR ,DOMESTIC BANKING ,TRADING ,CONSTRAINTS ,COVID-19 ,GOVERNMENT INVESTMENTS ,PROFIT MARGIN ,SOFT LOAN ,PENSION SYSTEM ,REVENUES ,CASH TRANSFER ,PUBLIC INVESTMENT ,DEFICIT ,INVESTMENT SPENDING ,FISCAL TRENDS ,TRANSACTION ,DUAL USE RESTRICTIONS ,VALUATION ,TAX ,BANKING SYSTEM ,BUDGET ,PENSION FUND ,ECONOMIC GROWTH ,GROSS DOMESTIC PRODUCT ,EXCHANGE RATES ,CHEMICALS ,TRUST FUND ,DIGITAL INFRASTRUCTURE ,MUNICIPAL GOVERNANCE ,TRANSACTION COSTS ,DEBT INSTRUMENT ,DEBT OBLIGATION ,DEBT REPAYMENT ,BANK LENDING ,LENDING ,BENEFICIARIES ,TERRORISM ,INSTRUMENT ,PANDEMIC IMPACT ,PARTIAL CREDIT ,INTERNATIONAL STANDARDS ,PUBLIC INVESTMENTS ,SUSTAINABLE DEVELOPMENT STRATEGY ,PLEDGES ,GUARANTEE ,ECONOMIC DECLINE ,ARREARS ACCUMULATION ,GOODS ,PROMISSORY NOTES ,LOANS ,fiscal policy ,TAX COLLECTION ,CHECK ,PAYMENT SYSTEM ,ECONOMIC OUTLOOK ,ENERGY SUPPLY ,SOLVENCY ,TARIFF ,LIVING STANDARDS ,CAPITAL INVESTMENT ,BASIC EDUCATION ,FINANCE ,FINANCIAL DISTRESS ,REGULATORY FRAMEWORKS ,POLITICAL RISKS ,POLITICAL UNCERTAINTY ,RECONSTRUCTION ,LIABILITIES ,LEVIES ,LABOR MARKET ,CREDIT BUREAU ,EXPORTER ,CIVIL SERVICE ,PUBLIC EXPENDITURES ,CONSUMER LOANS ,DEBT ,BANKING SECTOR ,BANK BORROWING ,HEALTH SECTOR ,ECONOMIC DEVELOPMENT ,ELECTRICITY COST ,CENTRAL BANK ,DEFICITS ,PUBLIC FUNDS ,EXCHANGE ,ACCOUNTING ,PORTFOLIOS ,FINANCES ,LEARNING LOSS ,BROADBAND ,BANK FINANCING ,INTERNATIONAL DEVELOPMENT ,LOCAL GOVERNMENTS ,PRIVATE INVESTORS ,INSURANCE ,TAXES ,EQUITY ,RECURRENT EXPENDITURES ,ECONOMIC DEVELOPMENTS ,DUAL USE GOODS ,MORTGAGE LOANS ,TREASURY ,LOCAL GOVERNMENT REVENUES ,WAREHOUSES ,GOVERNMENT REVENUE ,LOCAL BANKS ,business environment ,EXPENDITURES ,NATURAL GAS ,MONETARY AUTHORITY ,MONETARY FUND ,ENERGY TRANSMISSION INFRASTRUCTURE ,INVESTMENT BANK ,Area C ,TRADE RESTRICTIONS ,LEGAL FRAMEWORK ,LEVY ,CAPACITY BUILDING ,CHECKS ,SHARE ,CURRENT ACCOUNT DEFICIT ,CASH PAYMENT ,TAX DEDUCTIONS ,EXPENDITURE - Abstract
After a steady improvement in the fiscal position over the past decade, the standoff over clearance revenues has severely constrained the PA budget, leading to a significant expansion in expenditure arrears. Going forward, however, uncertainty about a resolution for the clearance revenue standoff will weigh on the economy. Over the last two decades, the Palestinian economy has been driven by large inflows of transfers as other sources of growth have been long-hindered by the ongoing Israeli restrictions on movement and access. Under a baseline scenario which assumes a continuation of the Israeli restrictions, persistence of the internal divide between the West Bank and Gaza and a decline in aid levels, the Palestinian economy is expected to slip into a recession in 2020 and 2021, even if additional, one-off transfers from clearance revenues are made. As financial buffers are depleted, the reduced revenues will require sizable cuts in public spending, which in turn would translate in reduced consumption and investment. The decline in growth implies a sizable decline in real per capita income and a rise in poverty. The Palestinian financial sector continues to face substantial risks against the backdrop of the fiscal crisis. The negative impact of the deepening fiscal crisis on the quality of loan portfolios across the banking sector has started to materialize as both non-performing loans and classified loans have been on an upward trajectory. With the severe liquidity shortage facing the PA, it has resorted to domestic banks to finance its needs raising the sector’s exposure to the PA for the first time in a number of years. Banks are also rescheduling outstanding loans held by PA employees who are receiving a reduced salary, compounding the destabilizing effect on the sector. However, the fact that the PA is simultaneously building up an asset in the form of tax revenues not received from the GoI ameliorates the situation as the increased exposure may be seen as a temporary trend. Another cause of concern is a possible disruption in Correspondent Banking Relationships (CBRs) between Palestinian banks and their Israeli counterparts due to de-risking by Israeli banks. The immunity and indemnity package given by the GoI to banks with CBRs are set to expire in May 2020 and February 2021, respectively, when a longer term and more sustainable intervention is expected to be in place. While resolving the fiscal crisis is an immediate priority there remains a broader reform agenda to improve the economy and Palestinian living standards.
- Published
- 2020
16. The effect of updated pledges and business-as-usual projections, and new agreed rules on expected global greenhouse gas emissions in 2020.
- Author
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Hof, Andries F., den Elzen, Michel G.J., and Roelfsema, Mark
- Subjects
GREENHOUSE gases ,EMISSIONS (Air pollution) ,COMPARATIVE studies ,CARBON dioxide mitigation - Abstract
Highlights: [•] This study compares 2020 emission levels from pledges to those consistent with 2°C. [•] For a likely chance of 2°C, we find an emission gap of 8.7–12.6GtCO
2 equiv. by 2020. [•] The pledges could achieve 24–54% of the mitigation effort consistent with 2°C. [•] The effect of accounting rules is lower than in the UNEP (2012) emission gap report. [•] An emission gap does not imply that the 2°C target is definitely out of reach. [ABSTRACT FROM AUTHOR]- Published
- 2013
- Full Text
- View/download PDF
17. Public interest in the extinction of a species may lead to an increase in donations to a large conservation charity.
- Author
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Clements, Christopher
- Subjects
PLANT species diversity ,BIOSPHERE ,BIOLOGICAL extinction ,BIODIVERSITY ,PLANT conservation ,PUBLIC interest - Abstract
The extinction of a species is an event that often captures the public's imagination. Indeed, declaring a species as extinct is typically though of as a way of raising awareness of the impacts humanity is having on the global biosphere. However, thus far there is little evidence to suggest whether declaring a species as extinct leads to increased public concern, and whether this concern may in turn lead to support to slow future biodiversity loss. To assess this, I look to see whether there is any increase in the number of donations made to a large conservation charity after five recent, well-publicised extinction events that have generated public interest. I find that peaks in public interest in a species that has been reported as extinct may correspond to an increase in the number of donations made, but that other conservation related events may also affect month-month variation in the number of pledges made. [ABSTRACT FROM AUTHOR]
- Published
- 2013
- Full Text
- View/download PDF
18. Pledge by Constructive Delivery in Hong Kong.
- Author
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Yung, Patrick
- Subjects
LANDLORD-tenant relations ,PLEDGES (Law) ,RECEIPTS (Acknowledgments) ,ESTOPPEL ,LAW - Abstract
The article examines two recent cases in Hong Kong, Re Far East Structural Steelwork Engineering Ltd and Re Hang Fung Jewellery Co Ltd. Issues raised in the cases include the use of receipts, whether an attornment leads to an estoppel, and what elements are required to create a pledge in a transaction.
- Published
- 2013
19. Development of Banking Law in Russia: 2011-2012.
- Author
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Burkova, Anastasia
- Subjects
BANKING laws ,SURETYSHIP & guaranty -- Law & legislation ,DISPUTE resolution ,PLEDGES (Law) ,COURTS ,LOAN agreements ,LEGAL liability ,DEBTOR & creditor - Abstract
The article discusses the legal aspects of the development of banking law in Russia in 2011-2012, focusing on an analysis of bank guarantees, dispute resolution practices, and the plurality of pledgees under the Higher Arbitrazh Court. The nation's Federal Law No. of 405-FZ on pledge enforcement is addressed, along with suretyship agreements and the Russian Civil Code. Other topics include the liability imposed on sureties and debtors, loan agreements, and the validity of banking commissions.
- Published
- 2013
20. Kinship in the mid-nineteenth-century village: An introduction.
- Author
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Sabean, David Warren
- Abstract
By the 1830s the structural changes associated with the agricultural revolution were well in place. Stall feeding had clearly triumphed and the village had reorganized and intensified its pasture and meadowland. The fallow field was largely planted to fodder crops, and the production of potatoes had risen considerably. Root and fodder crops involved long hours of careful hoeing, carried out for the most part by women. They continually harvested green fodder crops and grass throughout the summer and carried them in hay kerchiefs on their heads from the fields to the stalls in the village. The 1830s were years of intensive flax cultivation, preparation, and spinning – all tasks in which women were predominant. During the previous two decades a new emphasis had been placed on having sufficient firewood for washing day, another aspect in the revision and reorganization of women's work during the period. An ideal of cleanliness and housewifery had developed in the village precisely at the time when women were being drawn into agriculture in a massive way. I have suggested in Volume I that the intensified production routines were part of the explanation for the wave of conflict between husbands and wives that characterized the first four decades of the century. By the 1830s, the new division of labor had triumphed, and within a decade or so some accommodation between husbands and wives had taken place. [ABSTRACT FROM AUTHOR]
- Published
- 1998
- Full Text
- View/download PDF
21. Smith's historical jurisprudence.
- Author
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Haakonssen, Knud
- Abstract
Introduction We have in the previous chapters discussed the analytic and critical aspects of Smith's jurisprudence. One of the most unusual features of his planned discourse, however, is that it should deal not only with ‘the general principles of law and government’ but also with ‘the different revolutions they have undergone in the different ages and periods of society’. While this historical dimension may seem strange to modern eyes, the history of law has two rather obvious functions within the framework of Smith's argument. First, as we saw on pp. 151–2, we only gain an understanding of how the principles of the impartial spectator work in practice by studying how men have tried, and maybe failed, to use them. And secondly, the history of law explains the present state of the law which is the object of critical evaluation from the standpoint of natural justice. This evaluation consists in ‘negative’ tests for injustice within a given system of law, and it is therefore of obvious importance to understand how this system arrived at its present composition. It is particularly important to see whether the necessity which led to the introduction of the various laws of police was genuine and whether it continues to be of vital importance to the country. If the answer is negative, then the laws in question fall within the ambit of natural justice, and if they are in conflict with its principles, they are condemned. [ABSTRACT FROM AUTHOR]
- Published
- 1981
- Full Text
- View/download PDF
22. Smith's analytical jurisprudence.
- Author
-
Haakonssen, Knud
- Abstract
The legal system The view of justice as a negative virtue which we have traced in The Theory of Moral Sentiments is obviously that which has traditionally been called commutative justice. Smith is well aware that this is not the only meaning the word has taken in the philosophical tradition, and he is always careful to distinguish it sharply from distributive justice. In the latter sense ‘Justice consists in the proper exercise of all the social and beneficent Virtues’ and it is therefore simply a collective label for all the positive virtues. It is, however, the negative virtue ‘which can alone properly be called Justice’, and which is the basis for all law. Its negative character lends it precision so that it is formulated spontaneously in clear and universal rules, and the primacy of the negative gives it an urgency which with equal spontaneity leads men to attempt to enforce these rules. However, since men are hardly likely to have a clear view of justice in cases where their own interests are involved, ‘civil society would become a scene of bloodshed and disorder, every man revenging himself at his own hand whenever he fancied he was injured’, unless the actual spectators in the social group intervened. As we shall see later, this spectator intervention is one of the original and one of the most important governmental functions, and it is the origin of all law: The wisdom of every state or commonwealth endeavours, as well as it can, to employ the force of the society to restrain those who are subject to its authority, from hurting or disturbing the happiness of one another. […] [ABSTRACT FROM AUTHOR]
- Published
- 1981
- Full Text
- View/download PDF
23. The electoral connection and ministerial ambition.
- Author
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Cox, Gary W.
- Abstract
Why did men in the nineteenth century seek to enter Parliament? How many wished to stay once they had entered the “best club in London,” and how many aimed higher, eyeing a position in the ministry? In studying an age before surveys or polls, the answers to these questions must be largely indirect. But the answers are important. If members coveted admittance to the ministry, the Premier, who held the power of appointment, could establish a strong inducement to loyalty by making it clear that those who too frequently dissented would generally not receive office. Since members who sought ministerial positions usually had to acquire a certain amount of parliamentary experience – especially if they aspired to the Cabinet – they must have become at least instrumentally concerned with reelection, and a natural preliminary question concerns the number of members who sought to (and the number who did) stay in Parliament long enough to have a realistic shot at the ministry and especially the Cabinet. Interest in reelection could stem from sources other than ministerial ambition, however, and the question of how many members were willing to put up with increasingly frequent election contests and the rigors of serving ever-larger popular constituencies is of interest in its own right. In the next section of this chapter, the desire of members to stay in office is reconnoitered. The second section turns to the question of specifically ministerial ambition and its significance for party discipline. [ABSTRACT FROM AUTHOR]
- Published
- 1987
- Full Text
- View/download PDF
24. Sharing developed countries’ post-2012 greenhouse gas emission reductions based on comparable efforts.
- Author
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den Elzen, Michel G. J., Höhne, Niklas, Hagemann, Markus M., Vliet, Jasper van, and van Vuuren, Detlef P.
- Subjects
UNITED Nations Framework Convention on Climate Change (1992) ,GREENHOUSE gases - Abstract
The Bali Action Plan as adopted under the United Nations Framework Convention on Climate Change (UNFCCC) in 2007, states that Annex I (developed) countries should reduce their greenhouse gas emissions, based on comparable efforts. Within this context, we have explored various comparable effort approaches (for example, equal marginal abatement costs for all countries) for reducing emissions by the year 2020 for individual countries and regions. In all calculations, the total reduction for Annex I countries as a group is assumed to be 30% below 1990 levels. In the analysis, we compare the reduction targets as calculated from the different approaches with the emission reductions as pledged by these countries as part of the Copenhagen Accord, as drafted under the UNFCCC in 2009. Our analysis indicates that the different elements in these calculations may cause a diversity in outcomes and that, therefore, individual countries may favour certain elements over others. These elements include (a) the choice of the approach itself (the same approach may produce very different outcomes for countries with diverging national circumstances, such as Canada and Russia); (b) the reference year (such as 1990 or 2006 emissions, is very important for countries with an increase in emissions since 1990 (e.g. the United States, Canada) or for those that have lower emission levels (e.g. Russia, the Ukraine)); and (c) rules on land use (these are important for countries with large forest areas). It should be noted that the stringency of the individual countries’ reductions as pledged, differs substantially from the stringency of the reduction targets calculated from the effort-sharing approaches. The current pledges by both the European Union and the United States, are lower than the reductions that would be obtained in the effort-sharing approaches for a 30% overall reduction in Annex I countries. [ABSTRACT FROM AUTHOR]
- Published
- 2010
- Full Text
- View/download PDF
25. From the Pledge to the Sharing
- Author
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Rito, Maria Teresa Perdigão Santos Oliveira and Instituto de Estudos de Literatura e Tradição (IELT - NOVA FCSH)
- Subjects
SDG 10 - Reduced Inequalities ,Massa sovada (Sweet bread) ,Azores ,Ritual food ,Pledges - Abstract
UID/ELT/00657/2013 The archipelago of the Azores is composed of 9 islands located in the Atlantic Ocean. Each island has its own strong cultural identity and specific geographical, geological and environmental characteristics. The habits of these islands have been influenced by the strong immigration to the U.S.A. and Canada. However, their eating habits have changed very little. Each island has its own specific gastronomy but they all have just one sweet in common: Massa Sovada (a type of sweet bread). Wherever the Azoreans are, massa sovada is present. We can find it in all festivities and gatherings. It has always been associated with festivities and offerings. It functions as the unification element between communities. However, each island can give it a different name. This archipelago celebrates the Cult of The Holy Ghost. All communities get together each year to prepare the communal feast, share food and present the offerings to the divinity. Massa sovada is always present. This research analyses the symbolic meaning of such a food, as an offering to the divinity and a sharing act between family members and neighbors, during the Holy Ghost Feasts, weddings, baptisms and pig-slaughtering. It registers its function as an identity element of the Azores Islands. publishersversion published
- Published
- 2018
26. Public Statements of Good Conduct Promote Pro-Social Behavior
- Author
-
Koessler, Ann-Kathrin, Page, Lionel, and Dulleck, Uwe
- Subjects
social dilemma ,C72 ,public good ,pledges ,C91 ,commitment ,ddc:330 ,H41 ,policy making ,pro-social behavior ,compliance ,A13 - Abstract
Voluntary and compulsory public statements of good conduct are frequently observed in the real world, such as the codes of good conduct for professionals or the requirements of academic journals to affirm that research was carried out ethically. In this study, we investigate what effect public statements of good conduct have on contribution behavior in a public goods experiment. Using a 'between-within subjects design' we identify three channels by which non-enforceable statements of intent are associated with higher levels of contributions to the public good. First, in a selection effect, socially-oriented participants are more likely in the experiment to make a public statement. Second, in a commitment effect, participants who make a public statement are contributing more to the public good. Third, in a coordination effect, aggregate contributions are higher when 'Statement-Makers' observe that also other group members make the statement. The latter explains why compulsory statements of good conduct are in our experiment more effective over time.
- Published
- 2018
27. SECURITY.
- Author
-
Stamatiou, Costas
- Subjects
PLEDGES (Law) ,STOCK certificates ,JUDICIAL power ,LAW enforcement ,STOCK prices ,LAW - Abstract
The article reports on the laws made for the regulation of securities and stock market in Cyprus. Topics discussed include laws made for the regulation of pledges of shares in Cyprus, law enforcement for the judicial powers and importance of price of shares as well as significance of stock certificates for the corporate organizations in Cyprus.
- Published
- 2014
28. Addressing Debt Vulnerabilities in Small States : The Potential Role of New Financing Instruments
- Author
-
Haque, Tobias, Partow, Zeinab, Varma, Sona, and Oliveira, Luiz Edgard
- Subjects
MARKET ACCESS ,COMMERCIAL TERMS ,INVESTMENT ,TOTAL DEBT ,DEBT STATISTICS ,BUDGET ,PUBLIC EXTERNAL DEBT ,DEBT EXCHANGES ,DEBT FORGIVENESS ,GOVERNMENT DEBT ,PUBLIC SECTOR DEBT ,TRUST FUND ,INSTITUTIONAL DEVELOPMENT ,INTERNATIONAL CAPITAL MARKETS ,DISCOUNT ,TOTAL EXTERNAL DEBT ,EXTERNAL FINANCING ,CREDITOR ,STOCKS ,DEBT SERVICE OBLIGATIONS ,MATURITIES ,BILATERAL DONORS ,INVESTMENTS ,REAL INTEREST RATE ,EXTERNAL DEBT SERVICE ,INVESTING ,DOMESTIC CURRENCY ,GOVERNMENT BORROWING ,INTERNATIONAL DEBT ,COMMERCIAL CREDITORS ,MACROECONOMIC RISKS ,RETURNS ,DEBT SERVICE ,PLEDGES ,DEBT SERVICE REDUCTION ,DEBT RATIOS ,GRACE PERIODS ,PUBLIC SPENDING ,LEGAL OBLIGATION ,AMORTIZATION PAYMENTS ,DEBT CRISES ,REAL EXCHANGE RATE ,DOMESTIC DEBT MARKETS ,SOLVENCY ,DEBT LEVELS ,HOLDING ,DEBT RELIEF INITIATIVES ,MARKETS ,INSTITUTIONAL CAPACITY ,CREDITORS ,CURRENT ACCOUNT SURPLUSES ,FINANCE ,EXPORTERS ,DEBT MARKETS ,DEBT LEVEL ,ACCESS TO FINANCING ,DIVERSIFIED PORTFOLIOS ,EXTERNAL DEBT ,DOMESTIC MARKETS ,DEBT ACCUMULATION ,SWAPS ,LIABILITIES ,INDEBTEDNESS ,EXTERNAL DEBT STOCK ,SWAP ,PRIVATE DEBT ,MULTILATERAL CREDITORS ,REAL INTEREST ,DISBURSEMENT ,LIQUIDITY ,FISCAL DEFICITS ,INSTRUMENTS ,INTEREST RATES ,DEBT SOURCE ,PUBLIC DEBT ,DEBT ,DEBT RESTRUCTURING ,EXTERNAL INDEBTEDNESS ,MARKET ,INTEREST PAYMENTS ,DEBT REDUCTION ,EXTERNAL PUBLIC DEBT ,COMMERCIAL DEBT ,DEBT SWAP ,DEBTS ,DEBT OBLIGATIONS ,CASH FLOW ,DEBT SUSTAINABILITY ANALYSES ,AVERAGE DEBT ,RETURN ,DEBT CONVERSION ,BANK DEBT ,DOMESTIC DEBT ,DEBT THRESHOLD ,EXTERNAL SHOCKS ,MULTILATERAL DEBT ,INITIAL DEBT ,DEFICITS ,DEBT REPAYMENTS ,MARKET RETURNS ,PORTFOLIO ,DEBT BURDENS ,EXCHANGE ,PORTFOLIOS ,BUDGETS ,EXTERNAL LIQUIDITY ,CAPITAL MARKETS ,LEVEL OF DEBT ,REPAYMENTS ,REAL INTEREST RATES ,DEBT STOCK ,LOCAL GOVERNMENTS ,DEBT SERVICING NEEDS ,EXCHANGE RATE ,DEBT RELIEF ,MACROECONOMIC VARIABLES ,DEBT-RELIEF ,NATURAL DISASTERS ,PRIVATE CREDIT ,CURRENT ACCOUNT ,DEBT THRESHOLDS ,COUNTRY DEBT ,OUTSTANDING DEBT ,BAILOUTS ,BILATERAL CREDITORS ,DEBT SERVICE PAYMENTS ,COMPOSITION OF DEBT ,NATURAL DISASTER ,PARTICULAR DEBT ,NET PRESENT VALUE OF DEBT ,DEBT MANAGEMENT ,MULTILATERAL DEBT RELIEF ,DEVELOPING COUNTRIES ,INTERNATIONAL BANK ,FUTURE ,AMOUNT OF DEBT ,DEBT STOCKS ,PUBLIC DEBT MANAGEMENT ,DEBT SERVICING ,OUTSTANDING DEBT STOCKS ,DEBT REDUCTIONS ,REPAYMENT ,DEVELOPMENT BANK ,CURRENT ACCOUNT DEFICITS ,INTEREST ,CREDIT MARKETS ,BILATERAL DONOR ,CASH FLOWS ,DEBT DYNAMICS ,REVENUES ,DEBT BURDEN ,LIQUIDITY RISK ,DEBT SUSTAINABILITY ,FACE VALUE ,DEFICIT ,DEBTORS ,TRUST FUNDS ,SHARE ,CURRENT ACCOUNT DEFICIT ,INTEREST RATE ,DEBT PORTFOLIOS ,DEBT SUSTAINABILITY ANALYSIS ,INTERNATIONAL CAPITAL ,EXPENDITURE ,TRANSACTION - Abstract
The papers in this series aim to provide a vehicle for publishing preliminary results on Macroeconomics and Fiscal Management (MFM) topics to encourage discussion and debate. This paper explores two new financing mechanisms that multilateral and bilateral development agencies could consider deploying to address problems of debt sustainability in small states. In this paper the authors provide an initial assessment of these proposals, informed by analysis of small state indebtedness and recent debt dynamics. Proposed financing instruments are predicated on assumptions that small states face high levels of indebtedness, and that reducing debt levels while increasing climate resilience could sustainably reduce such vulnerabilities. The authors find that levels of indebtedness vary widely across small states. Analysis of small state debt dynamics shows that small state debt accumulation has been driven by large primary and current account deficits and slow economic growth. Debt reduction from new mechanisms can only be expected to be sustainable, therefore, if countries simultaneously address the macroeconomic imbalances driving debt accumulation. The authors demonstrate that, while exposure to natural disasters is likely to have exacerbated economic management challenges in some small states, such exposures are unlikely to be the only important cause of indebtedness. The authors conclude that proposed new financing instruments can potentially help reduce small state debt burdens and gain fiscal space for climate adaptation but will not present a sustainable solution to problems of small state debt risks unless they involve macroeconomic and structural reforms to address the underlying imbalances driving rapid debt accumulation.
- Published
- 2016
29. Doing Business Regional Profile 2016 : European Union
- Author
-
World Bank Group
- Subjects
INVESTMENT ,PUBLIC SALE ,SALES AGREEMENT ,SHAREHOLDERS ,MOVABLE ASSETS ,DEPOSIT ,MINIMUM CAPITAL REQUIREMENTS ,LIQUIDATION ,ENFORCEMENT PROCESS ,PAPER CERTIFICATE ,INFORMATION TECHNOLOGY ,INVESTMENTS ,BANK LOAN ,PLEDGE ,REGISTRATION FEES ,STOCK ,ENFORCEMENT PROCEDURES ,CAPITAL REQUIREMENTS ,RETURNS ,INVESTORS ,COLLATERAL ,SHARES ,TRANSACTIONS ,INFORMATION ON BORROWERS ,BROKER ,TRADE CREDITORS ,MOVABLE PROPERTY ,INTERESTS ,TRANSPARENCY ,MORTGAGE ,CORPORATE TAX RATES ,PRIVATE SECTOR CREDIT ,ELECTRONIC AUCTION ,COLLATERAL LAWS ,BORROWERS ,MARKETS ,INFORMATION SYSTEMS ,CREDITORS ,PROFIT ,NOTARY ,AUCTION ,CORPORATE GOVERNANCE ,PROPERTY RIGHTS ,PRIVATE CREDIT BUREAUS ,SWAPS ,CADASTRE ,INVESTOR PROTECTION ,INFORMATION SYSTEM ,COMMERCIAL REGISTRY ,MINORITY INVESTOR ,MORTGAGES ,STAMP DUTY ,DEBT RESTRUCTURING ,ORIGINAL ASSET ,DISTRIBUTION OF CREDIT ,MARKET ,CAPITAL REQUIREMENT ,ELECTRONIC PAYMENT SYSTEM ,PROPERTY ,TAX RATE ,COLLATERAL REGISTRY ,COMPLIANCE – COST ,PROPERTIES ,FIXED ASSETS ,PRIVATE PROPERTY ,BANKRUPTCY ,TAX OBLIGATIONS ,INVESTOR PROTECTIONS ,LENDERS ,LENDER ,INCOME TAX ,TRANSACTIONS SYSTEM ,SECURITY ,LIABILITY ,FINANCIAL INSTITUTIONS ,EXCHANGE RATE ,GOOD ,EQUIPMENT ,PUBLIC SALES ,CREDIT BUREAUS ,REVENUE ,CURRENCY ,BAILIFF ,PRIVATE CREDIT ,BANKRUPTCY COURT ,OPTION ,LOAN ,SECURITIES ,REGULATORY PRACTICE ,IMMOVABLE PROPERTY ,DEED ,CREDIT HISTORY ,CENTRAL BANKS ,ISSUANCE ,CONTRACTS ,INVESTOR ,TRADING ,FINANCIAL HEALTH ,NOTARY PUBLIC ,INSURANCE PREMIUMS ,DEBT-EQUITY SWAPS ,DEBTORS ,NOTARIES ,LOCAL CURRENCY ,NOTARIZATION REQUIREMENT ,STAMP DUTY RATE ,TAX SYSTEM ,TRANSACTION ,WAREHOUSE ,MINORITY SHAREHOLDERS ,TAX RATES ,TAX ,DEBT-EQUITY ,PERSONAL ASSETS ,JUDICIAL PROCESSES ,CREDITOR ,LENDING ,BROKERS ,ARBITRATION ,SECURITY INTEREST ,REGISTRATION SYSTEM ,SHAREHOLDER ,PLEDGES ,GUARANTEE ,DEBTOR ,RESERVES ,GOODS ,EQUITY SWAPS ,LOANS ,TAX ON INTEREST INCOME ,CONFLICTS OF INTEREST ,SETTLEMENT ,DISCLOSURE REQUIREMENTS ,CHECK ,FORECLOSURE ,PAYMENT SYSTEM ,TARIFF ,REGISTRATION FEE ,PAYMENT SYSTEMS ,BORROWER ,SECURITIES REGULATIONS ,FINANCE ,EXPORTERS ,LENDING DECISIONS ,FINANCIAL STATEMENTS ,CAPITAL GAINS ,DISPUTE RESOLUTION ,LEVIES ,LABOR MARKET ,CREDIT BUREAU ,STOCK EXCHANGE ,LEGAL RIGHTS ,DEFAULTS ,COMPLIANCE COSTS ,DEBT ,BANKRUPTCY PROCEDURES ,AMOUNT OF CREDIT ,CREDIT INFORMATION SYSTEMS ,CONTRACT ENFORCEMENT ,CENTRAL BANK ,RETURN ,CREDIT HISTORIES ,COLLATERAL FOR LOANS ,LIMITED LIABILITY ,EXCHANGE ,CREDIT INFORMATION SYSTEM ,ACCOUNTING ,CONFLICT OF INTEREST ,CREDIT INFORMATION ,TARIFFS ,SECURITY AGREEMENT ,PRIVATE CREDIT BUREAU ,RESERVE ,INSURANCE ,TURNOVER ,TAXES ,EQUITY ,WAREHOUSES ,COMPANY LAWS ,DEFAULT ,PROFITS ,INTERNATIONAL BANK ,TRUSTEES ,SECURITY INTERESTS ,BANKRUPTCY LAWS ,CONTRACT ,MINIMUM CAPITAL REQUIREMENT ,MONETARY FUND ,CREDIT SOURCE ,JUDICIAL ENFORCEMENT ,INTEREST ,MACROECONOMIC CONDITIONS ,TAX RULES ,LEGAL FRAMEWORK ,NATIONAL SECURITY ,CORPORATE TAX RATE ,INTEREST INCOME ,LOCAL BUSINESS ,LEVY ,CONVERSION ,FINANCIAL STATEMENT ,CHECKS ,SHARE ,MINORITY INVESTORS ,LIENS ,BANKRUPTCY LAW ,ENFORCEMENT PROCEDURE - Abstract
Doing Business sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting 11 areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and labor market regulation. Doing Business 2016 presents the data for the labor market regulation indicators in an annex. The report does not present rankings of economies on labor market regulation indicators or include the topic in the aggregate distance to frontier score or ranking on the ease of doing business. This regional profile presents the Doing Business indicators for economies in European Union (EU). It also shows the regional average, the best performance globally for each indicator and data for the following comparator regions: East Asia and the Pacific (EAP), Europe and Central Asia (ECA), Middle East and North Africa (MENA), Latin America and OECD High Income.. The data in this report are current as of June 1, 2015 (except for the paying taxes indicators, which cover the period January–December 2014).
- Published
- 2016
30. Doing Business Regional Profile 2016 : OECD High Income
- Author
-
World Bank Group
- Subjects
INVESTMENT ,PUBLIC SALE ,SALES AGREEMENT ,SHAREHOLDERS ,MOVABLE ASSETS ,DEPOSIT ,MINIMUM CAPITAL REQUIREMENTS ,LIQUIDATION ,ENFORCEMENT PROCESS ,PAPER CERTIFICATE ,INFORMATION TECHNOLOGY ,INVESTMENTS ,BANK LOAN ,PLEDGE ,REGISTRATION FEES ,STOCK ,CAPITAL REQUIREMENTS ,RETURNS ,PENSION ,INVESTORS ,COLLATERAL ,BONDS ,TRANSACTIONS ,BROKER ,TRADE CREDITORS ,MOVABLE PROPERTY ,INTERESTS ,TRANSPARENCY ,MORTGAGE ,CORPORATE TAX RATES ,PRIVATE SECTOR CREDIT ,COLLATERAL LAWS ,BORROWERS ,MARKETS ,INFORMATION SYSTEMS ,CREDITORS ,PROFIT ,NOTARY ,CORPORATE GOVERNANCE ,PROPERTY RIGHTS ,PRIVATE CREDIT BUREAUS ,SWAPS ,CADASTRE ,BALANCE SHEET ,INVESTOR PROTECTION ,COMPANY LAW ,INFORMATION SYSTEM ,COMMERCIAL REGISTRY ,MINORITY INVESTOR ,MORTGAGES ,STAMP DUTY ,DEBT RESTRUCTURING ,ORIGINAL ASSET ,MARKET ,CAPITAL REQUIREMENT ,PROPERTY ,TAX RATE ,JOINT STOCK COMPANIES ,COLLATERAL REGISTRY ,COMPLIANCE – COST ,PROPERTIES ,BANK ACCOUNT ,FIXED ASSETS ,PRIVATE PROPERTY ,BANKRUPTCY ,TAX OBLIGATIONS ,INVESTOR PROTECTIONS ,LENDERS ,LENDER ,INCOME TAX ,TRANSACTIONS SYSTEM ,SECURITY ,HOUSING BONDS ,LIABILITY ,FINANCIAL INSTITUTIONS ,EXCHANGE RATE ,GOOD ,EQUIPMENT ,CREDIT BUREAUS ,REVENUE ,CURRENCY ,PRIVATE CREDIT ,OPTION ,LOAN ,SECURITIES ,REGULATORY PRACTICE ,IMMOVABLE PROPERTY ,DEED ,CREDIT HISTORY ,CENTRAL BANKS ,REPAYMENT ,ISSUANCE ,CONTRACTS ,INVESTOR ,TRADING ,FINANCIAL HEALTH ,NOTARY PUBLIC ,INSURANCE PREMIUMS ,DEBT-EQUITY SWAPS ,DEBTORS ,NOTARIES ,LOCAL CURRENCY ,STAMP DUTY RATE ,TAX SYSTEM ,TRANSACTION ,WAREHOUSE ,MINORITY SHAREHOLDERS ,TAX RATES ,TAX ,DEBT-EQUITY ,PERSONAL ASSETS ,JUDICIAL PROCESSES ,UNSECURED CREDITORS ,CREDITOR ,LENDING ,BROKERS ,SECURITY INTEREST ,REGISTRATION SYSTEM ,SHAREHOLDER ,PLEDGES ,NOTARIZATION REQUIREMENTS ,GUARANTEE ,DEBTOR ,RESERVES ,GOODS ,EQUITY SWAPS ,LOANS ,TAX ON INTEREST INCOME ,CONFLICTS OF INTEREST ,DISCLOSURE REQUIREMENTS ,CHECK ,FORECLOSURE ,PAYMENT SYSTEM ,TARIFF ,REGISTRATION FEE ,PAYMENT SYSTEMS ,BORROWER ,SECURITIES REGULATIONS ,FINANCE ,EXPORTERS ,LENDING DECISIONS ,FINANCIAL STATEMENTS ,CAPITAL GAINS ,DISPUTE RESOLUTION ,LEVIES ,LABOR MARKET ,CREDIT BUREAU ,STOCK EXCHANGE ,LEGAL RIGHTS ,DEFAULTS ,SECURITIES LAW ,PAYMENT HISTORY ,COMPLIANCE COSTS ,DEBT ,BANKRUPTCY PROCEDURES ,AMOUNT OF CREDIT ,PERSONAL PROPERTY ,CREDIT INFORMATION SYSTEMS ,CONTRACT ENFORCEMENT ,RETURN ,COLLATERAL FOR LOANS ,ENFORCEABILITY ,LIMITED LIABILITY ,EXCHANGE ,CREDIT INFORMATION SYSTEM ,ACCOUNTING ,CONFLICT OF INTEREST ,CREDIT INFORMATION ,TARIFFS ,PRIVATE CREDIT BUREAU ,RESERVE ,INSURANCE ,TURNOVER ,TAXES ,EQUITY ,WAREHOUSES ,COMPANY LAWS ,DEFAULT ,PROFITS ,INTERNATIONAL BANK ,TRUSTEES ,SECURITY INTERESTS ,BANKRUPTCY LAWS ,CONTRACT ,MINIMUM CAPITAL REQUIREMENT ,MONETARY FUND ,CREDIT SOURCE ,JUDICIAL ENFORCEMENT ,INTEREST ,MACROECONOMIC CONDITIONS ,TAX RULES ,LEGAL FRAMEWORK ,NATIONAL SECURITY ,CORPORATE TAX RATE ,INTEREST INCOME ,LOCAL BUSINESS ,LEVY ,CONVERSION ,FINANCIAL STATEMENT ,CHECKS ,SHARE ,MINORITY INVESTORS ,LIENS ,BANKRUPTCY LAW ,ENFORCEMENT PROCEDURE - Abstract
Doing Business sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting 11 areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and labor market regulation. Doing Business 2016 presents the data for the labor market regulation indicators in an annex. The report does not present rankings of economies on labor market regulation indicators or include the topic in the aggregate distance to frontier score or ranking on the ease of doing business. This regional profile presents the Doing Business indicators for economies in OECD High Income. It also shows the regional average, the best performance globally for each indicator and data for the following comparator regions: European Union (EU), East Asia and the Pacific (EAP), Europe and Central Asia (ECA), South Asia (SA) and Latin America.. The data in this report are current as of June 1, 2015 (except for the paying taxes indicators, which cover the period January–December 2014).
- Published
- 2016
31. Better Spending, Better Services : A Review of Public Finances in Haiti, Overview
- Author
-
World Bank Group
- Subjects
INVESTMENT ,TAX EXEMPTIONS ,TAX ,CHILDREN ,BUDGET ,TRADE UNIONS ,EXTREME POVERTY ,FAMILIES ,INFLATION ,IMPLEMENTATION ,SAFETY NETS ,BENEFICIARIES ,INVESTMENTS ,PUBLIC INVESTMENTS ,WORKERS ,POVERTY ,PLEDGES ,INVESTORS ,POLITICAL STABILITY ,SHARES ,PUBLIC FINANCES ,FRAUD ,BANK ,MEDICINES ,HEALTH OUTCOMES ,GOODS ,PUBLIC SPENDING ,LOANS ,HEALTH ,AGED ,VIOLENCE ,RISK MANAGEMENT ,CHECK ,GOVERNMENT BUDGET ,TRANSPARENCY ,PENSIONS ,LIVING STANDARDS ,HOLDING ,PATIENT ,MARKETS ,FINANCE ,PATIENTS ,EXTERNAL DEBT ,SAFETY NET ,INCOME INEQUALITY ,MORTALITY ,GOVERNMENT EXPENDITURES ,LONG-TERM INVESTMENT ,INCOME TAXES ,COMPLIANCE COSTS ,DEBT ,SCREENING ,INCOME LEVELS ,RISKS ,CLINICS ,MARKET ,HOSPITALS ,LIVING CONDITIONS ,CANTEENS ,RETURN ,TAX RATE ,STRESS ,INVESTMENT PROJECTS ,OPEN ECONOMIES ,ACCOUNTING ,BUDGETS ,FINANCES ,INCOME TAX ,SECURITY ,CHILD LABOR ,TARIFFS ,INTERNATIONAL TRADE ,IMMUNIZATION ,REGULATORY FRAMEWORK ,HEALTH INDICATORS ,FAMILY PLANNING ,OIL PRICES ,FOREIGN FUNDS ,HEALTH CARE ,HUMAN CAPITAL ,GOOD ,FOREIGN CAPITAL ,EQUIPMENT ,DISASTERS ,INSURANCE ,REGISTRATION ,REVENUE ,DEBT RELIEF ,NUTRITION ,PUBLIC HEALTH ,TAXES ,NATURAL DISASTERS ,INVESTMENT STRATEGY ,PREPAYMENT ,TREASURY ,MIGRATION ,INCOME LEVEL ,FORGIVENESS ,MOBILE PHONE ,NATURAL DISASTER ,PRIMARY SCHOOLS ,CREDIT ,EXPENDITURES ,INTERNATIONAL COMPARISONS ,PEOPLE ,TRADE REGIME ,MONETARY FUND ,STRATEGY ,OIL PRICE ,CONTRACTS ,INTEREST ,INCOME GROWTH ,BUDGETING ,REVENUES ,CASH TRANSFER ,PUBLIC INVESTMENT ,HEALTH SERVICES ,CASH TRANSFERS ,EMERGING ECONOMY ,FOREIGN DEBT ,CHECKS ,OBSERVATION ,SHARE ,INVESTMENT SPENDING ,INJURIES ,NURSES ,SOCIAL SUPPORT ,EXPENDITURE ,TAX SYSTEM - Abstract
The images of flattened buildings and tent cities that dominated the news following the Haitian earthquake of January 12, 2010 triggered an emergency response from the global aid and development community. Foreign governments, multilateral organizations including the World Bank, and NGOs dramatically increased the flow of funding to the devastated country. The money helped pay for emergency relief but also for higher public investment spending that sought to repair damage and press ahead with development projects that had begun before the disaster. Six years later, the flow of aid is declining, and Haiti faces pivotal challenges: how to adapt to the reductions, raise more resources internally, spend more efficiently, and safeguard the fragile social gains it has achieved in a time of extreme hardship. The infrastructure Haiti has acquired in the recent surge of investment is something like a newly built house that lacks furniture and running water, it may look good from the outside but does little for its occupants. For the present, life remains a struggle for most of the country’s 10.4 million people. Thus in addition to growth, the country needs policies that will foster inclusiveness. Analysis and past experience suggest that two factors are key: human capital and political stability. To achieve this goal, Haiti will require a new outlook favoring fair, efficient government and social inclusiveness.
- Published
- 2016
32. Mali Financial Sector Assessment Program : Legal and Judicial Aspects of the Credit Environment
- Author
-
World Bank
- Subjects
CONCESSIONS ,DOMESTIC LAWS ,PAYMENT ,DEBT OVERHANG ,BUDGET ,ASSET ,DEPOSIT ,EVENT OF DEFAULT ,LIQUIDATION ,ECONOMIC ASSETS ,LAND REGISTRY ,CREDITOR ,LAND MANAGEMENT ,RECEIVER ,REHABILITATION PROCEDURES ,ESTATE ,INVESTOR CONFIDENCE ,OUT-OF-COURT WORKOUTS ,TRADE LAW ,LENDING ,INVESTMENTS ,BANKING LAW ,INTERNATIONAL TRADE LAW ,DIRECT PAYMENT ,INSOLVENT ENTERPRISES ,FINANCIAL CRISIS ,INSOLVENT ,CONCESSION ,COMMERCIAL CODE ,RETURNS ,JUSTICE SYSTEM ,PLEDGES ,LAND TITLES ,GUARANTEE ,DEBTOR ,TRANSACTIONS ,GRACE PERIODS ,ASSETS ,EQUITY SWAPS ,LOANS ,GOOD FAITH ,JUDICIAL PROCEDURES ,FINANCIAL SYSTEMS ,TITLES ,SETTLEMENT ,FINANCIERS ,MOVABLE PROPERTY ,FORCED SALE ,CREDIT INSTITUTIONS ,MORTGAGE ,BINDING DECISION ,COURT EMPLOYEES ,BENEFICIARY ,WORKOUTS ,ENFORCEMENT OF SECURITY ,MARKETS ,CREDITORS ,FINANCE ,SETTLEMENTS ,JUDICIAL DECISIONS ,PUBLIC DISCLOSURE ,CESSATION OF PAYMENTS ,COMMON LAW ,BUSINESS LAW ,INFORMATION SYSTEM ,PAYMENT HISTORY ,RESTRUCTURING ,UNDERLYING ASSET ,MORTGAGES ,DEBT ,JUDGES ,GUARANTEES ,COMMON LAW COUNTRIES ,LAND REGISTER ,NEGOTIATIONS ,CLAIM ,FORFEITURE ,PROVISION OF CREDIT ,PAYMENTS ,CLAIMS ,PERSONAL PROPERTY ,PROPERTY ,FINANCIAL SITUATION ,TRAINING FOR JUDGES ,LIQUIDATION PROCEEDINGS ,TITLE ,OWNERSHIP ,COMMERCIAL COURTS ,LAND TITLE ,ENFORCEMENT ,POSITION OF CREDITORS ,LEGAL TOOLS ,COLLECTION PROCEEDINGS ,OWNERSHIP RIGHTS ,MORTGAGE SYSTEM ,INSOLVENCY ,FUTURE ASSETS ,SMALL DEBTORS ,CREDIT INFORMATION SYSTEM ,SECURITY ,POSSESSION ,SALARY ,JUDGE ,CREDIT INFORMATION ,COMMERCIAL COURT JUDGES ,INTERNATIONAL TRADE ,IMMOVABLE ASSETS ,LEGAL PROVISIONS ,FINANCIAL INSTITUTIONS ,INSURANCE ,CREDIT REPORTING ,EQUITY ,INSOLVENCY LAW ,DEFAULT ,LOAN ,CREDIT ,ACCESS TO CREDIT ,INTERNATIONAL LAW ,BANK CREDIT ,RESTRUCTURING TECHNIQUES ,IMMOVABLE PROPERTY ,FUTURE ,FINANCIAL RESOURCES ,JUDICIAL SYSTEM ,MICROFINANCE ,REAL PROPERTY ,INVESTOR ,CREDITOR RIGHTS ,MICROFINANCE SECTOR ,RECEIVERS ,LEGAL FRAMEWORK ,LEGAL ENVIRONMENT ,COMMERCIAL COURT ,DOMESTIC LAW ,DEBTORS ,CIVIL LAW ,BANK CREDITORS - Abstract
A country’s legal and judicial environment can help or hinder access to credit. In addition to the banking law governing the organization of the sector, the operations of credit institutions are subject to several laws. Four components of Malian business law are particularly relevant in assessing the position of creditors, the law on secured transactions, the law on collective proceedings, the law on information-sharing related to debtors (sometimes called the credit reporting law), and the law on collection and enforcement proceedings. If creditors cannot have confidence in their legal environment, they will be inclined to lend only to persons they know well. In this regard, it is telling to note that in Mali, the 50 biggest clients account for 39.3 percent of the credit extended by banks (although this percentage has fallen in recent times). Furthermore, access to credit remains a major constraint in the Malian business world. Although the reasons are not confined solely to the legal sphere, it is important to point out that, according to the 2010 Enterprise Survey, Malian enterprises cited access to credit as the main constraint hampering the business environment (43.9 percent of enterprises). The same study showed that in the case of loans involving a security right, the value of the assets pledged stood at 201.4 percent of the amount borrowed, reflecting the lack of confidence by banks in their ability to actually enforce their rights. In addition, in view of the fact that 58 percent of loans require a pledged asset which, in most instances, takes the form of immovable property, persons who do not own such assets are, de facto, shut out of the system and unable to seek credit.
- Published
- 2015
33. Indonesia Economic Quarterly, December 2015 : Reforming Amid Uncertainty
- Author
-
World Bank
- Subjects
INVESTMENT ,TOTAL DEBT ,FINANCIAL DEVELOPMENTS ,PRIVATE INVESTMENT ,DEPOSIT ,BOND YIELDS ,INFLATION ,EMERGING MARKET ,FISCAL DEFICIT ,EXPROPRIATION ,EQUITIES ,RURAL CREDIT ,TRADE SECTORS ,INVESTMENTS ,EXPORT GROWTH ,PLEDGE ,PORTFOLIO INFLOWS ,STOCK ,FORWARD MARKET ,TRANCHES ,CONSUMER PRICE INDEX ,POVERTY ,INVESTORS ,COLLATERAL ,CREDIT GROWTH ,LAND TITLES ,BONDS ,SHARES ,FINANCIAL MARKET ,TRANSACTIONS ,NON-PERFORMING LOANS ,PUBLIC SPENDING ,BROKER ,GOVERNMENT BUDGET ,TRANSPARENCY ,REAL EXCHANGE RATE ,EMERGING MARKETS ,FINANCIAL MARKETS ,SPOT MARKET ,EMERGING ECONOMIES ,BALANCE OF PAYMENTS ,HOLDING ,DEPOSITS ,MARKETS ,ISSUANCES ,INFORMATION SYSTEMS ,BORROWING COSTS ,PROFIT ,INTERNATIONAL FINANCE ,VARIABLE COSTS ,HOLDING REQUIREMENT ,GLOBAL ECONOMY ,PROPERTY RIGHTS ,BASIS POINTS ,BALANCE SHEET ,AGRICULTURAL COMMODITIES ,SWAP ,MONETARY POLICY ,DISBURSEMENT ,INCOME TAXES ,RURAL BANK ,INTEREST RATES ,MARKET ,INTEREST PAYMENTS ,WORKING CAPITAL ,DOMESTIC CREDIT ,SECURITIES ISSUANCES ,CAPITAL ALLOCATION ,PROPERTY ,FINANCIAL RISK ,BUDGET DEFICIT ,FIXED CAPITAL ,PORTFOLIO INVESTMENT ,DISBURSEMENTS ,CURRENCIES ,PORTFOLIO FLOWS ,TRADE BALANCE ,PORTFOLIO ,TRADING SYSTEM ,POLITICAL ECONOMY ,BUDGETS ,HUMAN DEVELOPMENT ,INCOME TAX ,RETURN ON ASSETS ,SECURITY ,MARKET PARTICIPANTS ,DERIVATIVES ,ACCESS TO INFORMATION ,LOCAL GOVERNMENT ,INTERNATIONAL TRADE ,REGULATORY FRAMEWORK ,FISCAL POLICY ,LIABILITY ,EXCHANGE RATE ,INVESTMENT DECISIONS ,BOND SALE ,EQUIPMENT ,REVENUE ,CURRENCY ,CAPITAL GRANTS ,LANDHOLDERS ,ECONOMIC POLICIES ,BOND ,GOVERNMENT SECURITIES ,INTELLECTUAL PROPERTY ,FOREIGN INVESTMENTS ,DIRECT INVESTMENT ,EQUITY MARKET ,EXTERNAL BORROWING ,FINANCIAL MARKET PARTICIPANTS ,OPTION ,LOAN ,COMMODITY PRICES ,BOND ISSUANCE ,INVESTMENT LOAN ,SECURITIES ,MATURITY ,MARKET INTEREST RATE ,FUTURE ,GOVERNMENT REGULATION ,GOVERNMENT INVESTMENT ,EMERGING MARKET ECONOMIES ,ISSUANCE ,FOREIGN INVESTMENT ,CONTRACTS ,INVESTOR ,TRADING ,BUDGETING ,CAPITAL FORMATION ,BOND SPREAD ,REVENUES ,INFRASTRUCTURE DEVELOPMENT ,CASH TRANSFER ,DEFICIT ,INVESTMENT SPENDING ,LOCAL CURRENCY ,INTERNATIONAL INVESTOR ,LAND AS COLLATERAL ,MARKET ACCESS ,INVESTMENT LOANS ,PREFERENTIAL MARKET ACCESS ,CAPITAL FLOWS ,FOREIGN INFLOWS ,TAX ,FOREIGN INVESTORS ,INVENTORY ,STOCK MARKET ,TREATIES ,BUDGET ,GROSS DOMESTIC PRODUCT ,ENTERPRISE CREDIT ,GOVERNMENT DEBT ,STOCKS ,MARKET ECONOMIES ,RISK AVERSION ,LENDING ,BENEFICIARIES ,MARKET REQUIREMENTS ,INVESTMENT FLOWS ,INFLATION RATE ,REGISTRATION SYSTEM ,SOVEREIGN BONDS ,GOVERNMENT BONDS ,PLEDGES ,GUARANTEE ,EMERGING MARKET BOND ,RESERVES ,GOODS ,ENFORCEMENT MECHANISMS ,LOANS ,TREATY ,SETTLEMENT ,SECURITIES ISSUANCE ,RISK MANAGEMENT ,LONG-TERM COST ,GOVERNMENT BOND YIELD ,TARIFF ,INVENTORIES ,ASSET PRICES ,TRANCHE ,FINANCE ,EXPORTERS ,MARKET EQUITIES ,EXTERNAL FUNDING ,EXTERNAL DEBT ,INTERNATIONAL BOND ,LEVIES ,LABOR MARKET ,SHORT-TERM CAPITAL ,EMERGING MARKET EQUITIES ,DEBT ,MACROECONOMIC ENVIRONMENT ,BANKING SECTOR ,BOND YIELD ,CAPITAL ADEQUACY ,COMMODITY PRICE ,LONG-TERM COSTS ,FINANCIAL MANAGEMENT ,RETURN ,CONSUMPTION EXPENDITURE ,LAND TITLE ,LAND VALUE ,CAPITAL OUTFLOWS ,DOMESTIC DEBT ,GOVERNMENT SUPPORT ,TAX INCENTIVES ,BOND INDEX ,FOREIGN EXCHANGE ,LEGAL PROTECTION ,EXCHANGE ,ACCOUNTING ,GLOBAL TRADE ,FOREIGN EXCHANGE TRANSACTIONS ,TARIFFS ,LOCAL GOVERNMENTS ,OIL PRICES ,INSURANCE ,CLAIMANT ,TAXES ,EQUITY ,GOVERNMENT BOND ,BANK LOANS ,BASIS POINT ,DOUBLE TAXATION ,INTEREST RATE SPREADS ,PROFITS ,EXPENDITURES ,GLOBAL BONDS ,INTERNATIONAL BANK ,INVESTMENT ACTIVITY ,CONTRACT ,EQUITY INDICES ,OIL PRICE ,INTEREST ,MACROECONOMIC CONDITIONS ,FIXED INVESTMENT ,FINANCIAL SUPPORT ,DEBT BURDEN ,CONVERSION ,CAPITAL INFLOWS ,CONSUMER GOODS ,SHARE ,CURRENT ACCOUNT DEFICIT ,INTEREST RATE ,FOREIGN CURRENCY ,EXPENDITURE - Abstract
The Indonesia Economic Quarterly (IEQ) has two main aims. First, it reports on the key developments over the past three months in Indonesia’s economy, and places these in a longerterm and global context. Based on these developments, and on policy changes over the period, the IEQ regularly updates the outlook for Indonesia’s economy and social welfare. Second, the IEQ provides a more in-depth examination of selected economic and policy issues, and analysis of Indonesia’s medium-term development challenges. It is intended for a wide audience, including policymakers, business leaders, financial market participants, and the community of analysts and professionals engaged in Indonesia’s evolving economy. This paper discusses about the economic conditions of Indonesia for the year 2015. Emerging market assets rebounded in October 2015 after the sharp losses recorded in August and September, when the uncertainty about the Chinese economic slowdown and the U.S. interest rate outlook was particularly high. Despite a more favorable market sentiment, capital flows to emerging economies have remained weak and borrowing costs relatively high. In addition to tight financing conditions, Indonesia faced subdued external demand for its exports in the near term and persistently low commodity prices over the medium run. In 2015, fire in Indonesia cost nearly twice that of reconstruction following the 2004 tsunami in Aceh. Agriculture and forestry have sustained losses and damages in trillions. Sustained exposure to haze could also lead to the volcano effect, i.e., a decrease in plant productivity in the short term due to limited sun exposure and a deleterious effect on plant physiology and photosynthesis. The recurring nature of Indonesia’s fire crisis is of particular concern. Another potential step in Indonesia’s new reform process was the country’s signaling its intention to join the Trans-Pacific Partnership (TPP) agreement in the near future. Whether membership materializes or not, the agreement is likely to have a limited impact on trade, because import tariffs in member countries are already low and Indonesia has trade agreements with most of them.
- Published
- 2015
34. Afghanistan Development Update, October 2015
- Author
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World Bank
- Subjects
FLEXIBLE EXCHANGE RATE ,INVESTMENT ,TAX ,BUDGET ,PRIVATE INVESTMENT ,INFLATIONARY PRESSURES ,FOREIGN EXCHANGE RESERVES ,PRIVATE INVESTMENTS ,DEPOSIT ,TRUST FUND ,INFLATION ,FISCAL DEFICIT ,MATURITIES ,BROAD MONEY ,BANK LENDING ,INVESTOR CONFIDENCE ,LENDING ,SAFETY NETS ,INVESTMENTS ,EXPORT GROWTH ,INSTRUMENT ,BANKING LAW ,STOCK ,POVERTY ,PLEDGES ,PENSION ,GUARANTEE ,FINANCIAL MARKET ,RESERVES ,GOODS ,LOANS ,WITHDRAWAL ,TRANSPARENCY ,FINANCIAL MARKETS ,PENSIONS ,INTEREST PAYMENT ,BALANCE OF PAYMENTS ,INVESTMENT OPPORTUNITIES ,DEPOSITS ,MARKETS ,AUCTION ,FINANCE ,INTERNATIONAL FINANCE ,TAX POLICY ,POLITICAL UNCERTAINTY ,EXTERNAL DEBT ,CURRENCY DEPRECIATION ,LIABILITIES ,EXPORTER ,LEGISLATIVE FRAMEWORK ,OUTSTANDING AMOUNT ,INFORMATION SYSTEM ,INCOME INEQUALITY ,MONETARY POLICY ,LIQUIDITY ,INSTRUMENTS ,DEBT ,ARREARS ,INCOME LEVELS ,BANKING SECTOR ,MARKET ,INTEREST PAYMENTS ,PROPERTY ,FINANCIAL MANAGEMENT ,ECONOMIC DEVELOPMENT ,CENTRAL BANK ,TAX RATE ,CAPITAL OUTFLOWS ,INVESTMENT CLIMATE ,DISBURSEMENTS ,FOREIGN DIRECT INVESTMENTS ,DIRECT INVESTMENTS ,TRADE BALANCE ,TAX REGIME ,FOREIGN EXCHANGE ,MACROECONOMIC STABILITY ,PORTFOLIO ,INVESTMENT ACTIVITIES ,EXCHANGE ,HUMAN DEVELOPMENT ,INCOME TAX ,QUALITY OF ASSETS ,SECURITY ,FINANCIAL SECTOR DEVELOPMENTS ,MARKET DEVELOPMENT ,CHILD LABOR ,INTERNATIONAL DEVELOPMENT ,REGULATORY FRAMEWORK ,SUKUK ,RESERVE ,CAPITAL NOTES ,EXCHANGE RATE ,HUMAN CAPITAL ,GOOD ,EQUIPMENT ,TELECOMMUNICATIONS ,INSURANCE ,REVENUE ,DEBT RELIEF ,CURRENCY ,RECURRENT EXPENDITURES ,ECONOMIC DEVELOPMENTS ,INVESTMENT STRATEGY ,OPTION ,BALANCE OF PAYMENT ,MOBILE PHONE ,LOAN ,SECONDARY TRADING ,EXPENDITURES ,COMMODITY PRICES ,DEVELOPING COUNTRIES ,SECURITIES ,INTERNATIONAL BANK ,COMMERCIAL BANKS ,NONPERFORMING LOANS ,FUTURE ,INVESTMENT ACTIVITY ,CASH RESERVES ,MONETARY FUND ,GOVERNMENT INVESTMENT ,INVESTOR ,INTEREST ,TRADING ,LEGAL FRAMEWORK ,NATIONAL SECURITY ,LONG- TERM COST ,BUDGETING ,REVENUES ,INVESTMENT PORTFOLIO ,DEFICIT ,SHARE ,HUMAN RESOURCE ,CASH RESERVE ,EXPENDITURE ,TAX CODE - Abstract
More frequent incidences of violence in Afghanistan, as well as delays in the elections process and cabinet formation, continued to fuel uncertainty and affected investor confidence in 2014 and the first half of 2015. Economic growth slowed to 1.3 percent in 2014, down from 3.7 percent a year earlier. Unlike in previous years, agriculture did not contribute much to growth in 2014. Production levels were high for a third year in a row but did not supersede the strong output in 2013. Growth was mainly driven by services and a slight expansion of industries where an increase in construction activities outweighed lower production in manufacturing. Private investment activities showed strong signs of slowdown in 2014, evidenced by a drop of nearly 50 percent in new firm registrations since 2012. The National Unity Government has embarked on an ambitious reform agenda to revitalize the economy, tackle corruption, and improve investment climate. However, it will take time for these reforms to have an impact, and it is yet unclear how much they will mitigate the high risks stemming from the fragile security environment. Growing trends in security and pension and wage spending over the medium term require immediate attention. Afghanistan faces significant financing shortages for both civilian and security spending. Therefore, securing continued high levels of donor financing over the coming years is of critical importance for fiscal stability in the country. The fragile security environment and financing constraints, compounded by weak governance capacity, pose serious challenges to service delivery in Afghanistan. Any setback in reform implementation would further slowdown the pace of human capital accumulation in Afghanistan and reduce future prospects of growth and poverty reduction.
- Published
- 2015
35. Networked Carbon Markets : Key Elements of the Mitigation Value Assessment Process
- Author
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Macinante, Justin
- Subjects
CARBON TRADING ,INVESTMENT ,CLIMATE CHANGE MITIGATION ,GLOBAL EMISSIONS ,INVENTORY ,BUDGET ,PRIVATE INVESTMENT ,GASES ,EXCHANGE RATES ,EMISSION ALLOWANCES ,TAX CREDITS ,PUBLIC SECTOR DEBT ,ANNUAL EMISSIONS ,INTERNATIONAL SETTLEMENTS ,CARBON MARKETS ,ASSET CLASSES ,CERTIFIED EMISSION REDUCTIONS ,EMISSIONS ,EMISSION LIMITATION ,INSTRUMENT ,INTERNATIONAL STANDARDS ,EMISSIONS SCENARIO ,BROKERS ,FINANCIAL CRISIS ,STOCK ,MARKET MAKERS ,PLEDGES ,INVESTORS ,SULPHUR DIOXIDE ,OPTIONS ,GUARANTEE ,BACKED SECURITIES ,FINANCIAL MARKET ,GAS ,MARKET LIQUIDITY ,TRANSACTIONS ,EMISSIONS PROFILE ,FRAUD ,GLOBAL WARMING POTENTIAL ,CREDIT RATING AGENCIES ,CONSUMER PROTECTION ,CONFLICTS OF INTEREST ,TREATY ,WITHDRAWAL ,LIQUID MARKETS ,GLOBAL EMISSION ,SETTLEMENT ,GREENHOUSE GAS ,SULPHUR ,TRANSPARENCY ,MARGINAL ABATEMENT ,MORTGAGE ,FINANCIAL MARKETS ,SOVEREIGN DEBT ,BORROWERS ,LEVELS OF EMISSIONS ,INTERNATIONAL TRANSACTION ,MARKETS ,DEFAULT RISK ,PROFIT ,CAPACITY ,AUCTION ,FINANCE ,LEAD ,CALCULATION ,PRICES ,FINANCIAL INSTRUMENT ,CREDIT RATINGS ,GLOBAL WARMING ,GOLD ,LOW-CARBON ,EMISSION FACTORS ,STOCK EXCHANGE ,CARBON EMISSIONS ,MARKET CAP ,GHGS ,RAIN ,CARBON PRICE ,LIQUIDITY ,EMISSIONS MITIGATION ,MONTREAL PROTOCOL ,INSTRUMENTS ,ATMOSPHERE ,MORTGAGES ,DEBT ,EMISSION REDUCTIONS ,MARKET ,REGIONAL GREENHOUSE GAS INITIATIVE ,FUEL SUBSTITUTION ,FUNGIBLE ,ANTHROPOGENIC EMISSIONS ,GREENHOUSE ,VISIBILITY ,CENTRAL BANK ,EMISSIONS REDUCTIONS ,CONVENTION ON CLIMATE CHANGE ,PROBABILITY OF DEFAULT ,CLIMATE CHANGE ,CORPORATE BORROWERS ,MARGINAL ABATEMENT COST ,CARBON POLICIES ,CURRENCIES ,CARBON ,ENERGY ,MARKET MAKER ,EMISSION CAP ,CARBON MARKET ,FOREIGN EXCHANGE ,GLOBAL CLIMATE CHANGE ,CARBON DIOXIDE ,CARBON ALLOWANCES ,GAS EMISSION ,TRADING SYSTEM ,EXCHANGE ,ACCOUNTING ,TEMPERATURE ,LEGAL SYSTEM ,MARKET PARTICIPANTS ,IPCC ,AIR ,CREDIT RATING AGENCY ,CREDITWORTHINESS ,FINANCIAL SYSTEM ,RESERVE ,LIABILITY ,GREENHOUSE GAS EMISSION ,EMISSION TRADING ,EXCHANGE RATE ,BOND MARKET ,ACID ,EMISSION REDUCTION ,CO2 ,CURRENCY ,BOND ,GREENHOUSE GASES ,MARKET REGULATOR ,FOREIGN EXCHANGE MARKET ,FRAMEWORK CONVENTION ON CLIMATE CHANGE ,CLIMATE SYSTEM ,ABATEMENT COST ,PAPER INSTRUMENTS ,DEFAULT ,SO2 ,GREENHOUSE GAS EMISSION REDUCTIONS ,SECURITIES ,GWP ,REGULATORY OVERSIGHT ,MARKET SHARE ,BASES ,BENEFITS ,CONTRACT ,CREDIT RATING ,CARBON TAX ,MONETARY FUND ,INVESTMENT BANKS ,ISSUANCE ,CARBON EMISSION ,CONTRACTS ,INTEREST ,TRADING ,CLIMATE ,LEVY ,CONVERSION ,GAS EMISSIONS ,ACID RAIN ,INTERNATIONAL EMISSIONS ,SHARE ,CARBON UNITS ,GREENHOUSE GAS INITIATIVE ,GHG ,EMISSION ,FINANCIAL INSTRUMENTS ,TRANSACTION - Abstract
This paper builds on the findings of an earlier unpublished discussion paper titled ‘designing a model for networked carbon markets’, with its objective being to describe key elements of the mitigation value assessment process. The outcome of this paper will inform a model for the Networked Carbon Markets concept, to be prepared at a later date. The following section two acknowledges the subject matter of the NCM initiative, namely the diverse and heterogeneous trading schemes and other carbon pricing mechanisms that are being put in place by jurisdictions around the globe. As this is the subject of another World Bank paper, only a brief reference is included. Section three sets out a conceptual framework within which to consider the key elements described in the glossary of terms, addressed in section four and annexure ‘C’. This section also looks at different transaction scenarios, introducing the concepts of an international transaction unit and an index. Section five turns attention to the types of institutions that might be suitable to participate in the mitigation value assessment process, providing practical examples, and considering the types of expertise and tools those institutions might leverage. Section six considers options for regulatory supervision of the MV assessment process. Section seven looks in more detail at the relationship between mitigation value and the compliance value that might be attached to carbon assets and, in so doing, considers the role and function of the settlement platform. This section also considers the feasibility and potential benefits of an index. The concluding section eight looks at the next steps that might flow from this work.
- Published
- 2015
36. High Finance: Urban and Princely Pledges
- Author
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Shatzmiller, Joseph, author
- Published
- 2013
- Full Text
- View/download PDF
37. Doing Business in Poland 2015 : Comparing Business Regulations for Domestic Firms in 18 Cities with 188 Other Economies
- Author
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World Bank Group
- Subjects
WAREHOUSE ,BANK POLICY ,NOTARIAL FEES ,INVESTMENT ,TAX ,PUBLIC SALE ,BUDGET ,GROSS DOMESTIC PRODUCT ,LEGAL OWNERSHIP ,SALES AGREEMENT ,MOVABLE ASSETS ,SHAREHOLDERS ,DEPOSIT ,MINIMUM CAPITAL REQUIREMENTS ,LIQUIDATION ,INFLATION ,CREDITOR ,DEPOSIT INSURANCE ,LENDING ,INVESTMENTS ,REGISTRY OFFICIALS ,INVESTING ,BANK LOAN ,MIDDLEMEN ,REGISTRATION FEES ,DUE DILIGENCE ,STOCK ,CAPITAL REQUIREMENTS ,COMMERCIAL CODE ,LIMITED PARTNERSHIPS ,JUSTICE SYSTEM ,REGISTRATION SYSTEM ,SHAREHOLDER ,POVERTY ,POST OFFICE ,PLEDGES ,JUSTICE SYSTEMS ,INVESTORS ,COLLATERAL ,OPTIONS ,GUARANTEE ,DEBTOR ,SHARES ,RESERVES ,TRANSACTIONS ,PUBLIC FINANCES ,GOODS ,LOANS ,FINANCIAL SYSTEMS ,SETTLEMENT ,CHECK ,INTERESTS ,TRANSPARENCY ,MARKET CAPITALIZATION ,MORTGAGE ,EXCHANGES ,BANK ACCOUNTS ,LAND PARCEL ,LIVING STANDARDS ,REGISTRATION FEE ,DEPOSITS ,MARKETS ,INFORMATION SYSTEMS ,CREDITORS ,NOTARY ,FINANCE ,INVESTMENT DECISION ,INTERNATIONAL FINANCE ,SMALL BUSINESSES ,STOCK EXCHANGES ,MICROENTERPRISES ,PROPERTY RIGHTS ,CAPITAL GAINS ,DISPUTE RESOLUTION ,CADASTRE ,JUDICIAL SYSTEMS ,LEGAL RIGHT ,INFORMATION SYSTEM ,COMPANY LAW ,SMALL BUSINESS ,LAND PARCELS ,MORTGAGES ,DEBT ,STAMP DUTY ,PROPERTY AS COLLATERAL ,MARKET ,NATIONAL INVESTMENT ,GOVERNMENT POLICIES ,CAPITAL REQUIREMENT ,PROPERTY ,DEBTS ,WEALTH CREATION ,LAND TITLING ,AUCTIONS ,CONTRACT ENFORCEMENT ,ECONOMIC DEVELOPMENT ,PUBLIC ENFORCEMENT ,BAILIFFS ,FINANCIAL INFORMATION ,INVESTMENT CLIMATE ,CADASTRES ,SHARE VALUE ,PROPERTIES ,BANK ACCOUNT ,REGISTRATION PROCESS ,CREDIBILITY ,LIMITED PARTNERSHIP ,TAX REGIME ,MACROECONOMIC STABILITY ,DEBT RECOVERY ,TAX OBLIGATIONS ,PUBLIC FUNDS ,LIMITED LIABILITY ,INVESTMENT POLICY ,EXCHANGE ,CREDIT INFORMATION SYSTEM ,ACCOUNTING ,BUDGETS ,FINANCES ,SECURITY ,REGISTRATION SYSTEMS ,MARKET SIZE ,BARRIERS TO ENTRY ,LOCAL GOVERNMENT ,TARIFFS ,CREDIT INFORMATION ,INTERNATIONAL TRADE ,NO OBJECTION CERTIFICATES ,REGULATORY FRAMEWORK ,STAMP DUTIES ,IMMOVABLE ASSETS ,LOCAL GOVERNMENTS ,FINANCIAL SYSTEM ,LIABILITY ,GOOD ,EQUIPMENT ,INSURANCE ,REVENUE ,TURNOVER ,REFERENDA ,TAXES ,EQUITY ,BAILIFF ,PRIVATE CREDIT ,LAND POLICIES ,TREASURY ,WAREHOUSES ,INCOME LEVEL ,HUMAN RESOURCES ,ENFORCEMENT OF CONTRACTS ,OPTION ,PROFITS ,LOAN ,DEVELOPING COUNTRIES ,REGULATORY PRACTICE ,INTERNATIONAL BANK ,IMMOVABLE PROPERTY ,FUTURE ,JUDICIAL SYSTEM ,CONTRACT ,LEASE AGREEMENT ,DEED ,MINIMUM CAPITAL REQUIREMENT ,DISCOUNTS ,LEGAL FRAMEWORKS ,MONETARY FUND ,BARRIER TO ENTRY ,ISSUANCE ,CONTRACTS ,INVESTOR ,CAPITALIZATION ,INTEREST ,DEBT COLLECTION ,TRADING ,ENTRY REQUIREMENTS ,LEGAL FRAMEWORK ,BUDGETING ,LOCAL ECONOMY ,LOCAL BUSINESS ,REVENUES ,NOTARY PUBLIC ,CAPACITY BUILDING ,DEBTORS ,CHECKS ,CONSUMER GOODS ,NOTARIES ,CIVIL LAW ,SHARE ,MINORITY INVESTORS ,LIENS ,HUMAN RESOURCE ,TRANSACTION - Abstract
Poland’s economic growth over the last 25 years has been spectacular. In that period, Poland has more than doubled its income per capita and became a European growth champion. It was the only EU country to avoid a recession in 2009. Its current GDP growth rate is strong. Poland seems to be on the brink of its new ‘golden age.’ Doing Business in Poland 2015 is the first subnational report of the Doing Business series in Poland. It measures business regulations and their enforcement from the perspective of a small to medium-size domestic firm. The idea is a simple one: if entrepreneurs spend fewer resources on regulatory burdens, they will have more time to devote to productive activities. If laws and regulations are clear, accessible, and transparent and, at the same time, enforceable before the courts, entrepreneurs will feel more confident to do business with people they don’t know, and expand their client and supplier network. The gap between the 18 cities benchmarked is significant. By adopting existing good practices found across the country in the four areas measured by this report, Poland would rank 24th out of 189 economies globally, eight positions higher than Poland’s current ranking according to Doing Business 2015, placing the country ahead of France and the Netherlands. Promoting convergence among regions and cities towards the top performers and thus improving the ease of doing business in the whole country is a challenge worth taking.
- Published
- 2015
38. Egypt Economic Monitor, Spring 2015 : Paving the Way to a Sustained Recovery
- Author
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World Bank
- Subjects
FLEXIBLE EXCHANGE RATE ,TAX RATES ,INVESTMENT ,TAX ,FOREIGN INFLOWS ,BUDGET ,GOVERNMENT LENDING ,PRIVATE INVESTMENT ,INFLATIONARY PRESSURES ,GOVERNMENT GUARANTEES ,INTEREST RATES ON TREASURY BILLS ,GOVERNMENT DEBT ,PRIVATE INVESTMENTS ,DEPOSIT ,INFLATION ,BLACK MARKET ,DISCOUNT ,FISCAL DEFICIT ,MATURITIES ,BROAD MONEY ,RISK AVERSION ,LENDING ,SAFETY NETS ,BENEFICIARIES ,INVESTMENTS ,TERRORISM ,INTERNATIONAL STANDARDS ,PUBLIC INVESTMENTS ,RULE OF LAW ,FINANCIAL CRISIS ,STOCK ,FISCAL BURDEN ,INFLATION RATE ,RETURNS ,DEBT SERVICE ,TAX TREATMENT ,POVERTY ,PLEDGES ,INVESTORS ,SHARES ,FINANCIAL MARKET ,RESERVES ,NON-PERFORMING LOANS ,GOODS ,PUBLIC SPENDING ,LOANS ,OUTSTANDING DEBTS ,WITHDRAWAL ,SETTLEMENT ,GOVERNMENT BUDGET ,TRANSPARENCY ,CORPORATE TAX RATES ,LIVING STANDARDS ,PRIVATE SECTOR CREDIT ,SHORT-TERM DEBT ,DOMESTIC LIQUIDITY ,FOREIGN DIRECT INVESTMENT ,BALANCE OF PAYMENTS ,HOLDING ,DEPOSITS ,REMITTANCE ,MARKETS ,PROFIT ,FINANCE ,INTERNATIONAL MARKETS ,POLITICAL UNCERTAINTY ,CAPITAL GAINS ,EXTERNAL DEBT ,DISPUTE RESOLUTION ,DEBT ACCUMULATION ,LIABILITIES ,LABOR MARKET ,SAFETY NET ,BASIS POINTS ,MONETARY POLICY ,GOVERNMENT EXPENDITURES ,REAL INTEREST ,INCOME TAXES ,LIQUIDITY ,INTEREST RATES ,DISCOUNT RATE ,DEBT ,ARREARS ,CONTINGENT LIABILITIES ,GUARANTEES ,BANKING SECTOR ,PREPAYMENTS ,ASSET BASE ,ASSET RATIO ,MARKET ,INTEREST PAYMENTS ,NATIONAL INVESTMENT ,CAPITAL ADEQUACY ,COMMODITY PRICE ,DEBTS ,DEBT OBLIGATIONS ,AUCTIONS ,BUDGET DEFICIT ,ECONOMIC DEVELOPMENT ,CENTRAL BANK ,TAX RATE ,DOMESTIC DEBT ,MARKET PRICES ,DISBURSEMENTS ,CURRENCIES ,TREASURY BILLS ,DEBT REPAYMENTS ,TRADE BALANCE ,TAX REGIME ,FOREIGN EXCHANGE ,MACROECONOMIC STABILITY ,BANKRUPTCY ,EXCHANGE ,PORTFOLIOS ,GOVERNMENT REVENUES ,INCOME TAX ,SECURITY ,STRUCTURAL PROBLEMS ,MARKET PARTICIPANTS ,REMITTANCES ,TARIFFS ,REPAYMENTS ,REAL INTEREST RATES ,IMMUNIZATION ,DEBT STOCK ,CAPITAL STOCK ,INTERNATIONAL DEVELOPMENTS ,OIL PRICES ,EXCHANGE RATE ,PRIVATE INVESTORS ,REVENUE ,DEBT RELIEF ,CURRENCY ,GOVERNMENT EXPENDITURE ,TAXES ,EQUITY ,ECONOMIC DEVELOPMENTS ,GOVERNMENT SECURITIES ,PRIVATE CREDIT ,TREASURY ,INFLATION RATES ,MARKET CONDITIONS ,SHARES OF INVESTMENTS ,DIRECT INVESTMENT ,HOUSEHOLD INCOME ,OUTSTANDING DEBT ,FINANCIAL MARKET PARTICIPANTS ,PROFITS ,EXPENDITURES ,T-BILL RATES ,PUBLIC FINANCE ,SECURITIES ,FUTURE ,OIL PRICE ,REPAYMENT ,SOVEREIGN GUARANTEES ,ISSUANCE ,DEVELOPMENT BANK ,CONTRACTS ,INVESTOR ,INTEREST ,LEGAL FRAMEWORK ,NATIONAL SECURITY ,CORPORATE TAX RATE ,T-BILL ,REVENUES ,CASH TRANSFER ,CAPACITY BUILDING ,PUBLIC INVESTMENT ,DEFICIT ,CASH TRANSFERS ,SHARE ,CURRENT ACCOUNT DEFICIT ,INTEREST RATE ,INVESTMENT SPENDING ,FOREIGN CURRENCY ,GOVERNMENT SAVING ,EXPENDITURE ,TAX SYSTEM - Abstract
Egypt’s economic activity is gaining momentum. Growth accelerated to 5.6 percent during the first half of FY15, compared to a dismal 1.2 percent in the same period last year. The recent spike in economic activity reflects favorable base effects, but more importantly broad-based sector recovery, especially in tourism and manufacturing. On the demand side, growth continues to benefit from resilient consumption and government stimulus, supported by large financial inflows from Gulf States. In March 2015, Egypt held a high level Economic Development Conference, which culminated with the signing of sizeable investment deals worth US$36 billion, securing external financing worth US$24 billion, and the announcement of a new Gulf support package worth US$12.5 billion. This will boost the ongoing economic recovery and facilitate efforts to achieve macroeconomic stability. Annual growth is expected to double to 4.3 percent in FY15, and should increase further thereafter, compared to the muted growth of 2 percent during FY11-FY14. The International Monetary Fund (IMF) conducted its article four consultation in November 2014 and the final report generally commended the authorities’ medium term plans while highlighting some risks including slippage in implementing reforms and a large external financing gap. Egypt’s main risk is to sustain the ongoing economic recovery which requires improved security. Notwithstanding the authorities’ ambitious fiscal consolidation plan, the deficit and debt aggregates will remain high and unsustainable. Further, there are risks of policy slippage as some details and the exact timing of policy measures are still missing and implementation capacity remains a challenge. Further, sustaining the reform pace requires efficient and well-targeted safety nets, which might take time to build. Finally, there is significant uncertainty regarding the financing of the announced mega-projects and the potential contingent liabilities that may arise.
- Published
- 2015
39. Country Partnership Framework for the Republic of Panama for the Period FY15-FY21
- Author
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World Bank Group
- Subjects
AIRPORT ,PUBLIC TRANSIT ,TRANSIT INVESTMENTS ,TOTAL DEBT ,EXTREME POVERTY ,PRIVATE INVESTMENT ,COMMUTER RAIL ,CONGESTION ,ROAD ,TRANSPORT PLANNING ,INFLATION ,BOTTLENECKS ,RAIL SUBSIDIES ,ROUTES ,FISCAL DEFICIT ,FINANCIAL SECTOR ASSESSMENT ,UNEMPLOYMENT ,BUS SYSTEM ,ROAD INFRASTRUCTURE ,GUARANTEE AGENCY ,RETURNS ,PENSION ,TRANSPORT SECTOR ,CREDIT LINES ,MASS TRANSIT ,BRIBES ,MULTIMODAL TRANSPORT ,TRANSPARENCY ,FINANCIAL MARKETS ,BANK PORTFOLIO ,ETHNIC GROUPS ,HOLDING ,DEPOSITS ,BUSINESS CENTER ,INSTITUTIONAL CAPACITY ,DOMESTIC CAPITAL MARKET ,ACCIDENT RATES ,INTERNATIONAL FINANCE ,ENVIRONMENTAL SUSTAINABILITY ,ECONOMIC OPPORTUNITIES ,EXPLOITATION ,PROPERTY RIGHTS ,ROAD PROJECTS ,INCOME INEQUALITY ,INFORMATION SYSTEM ,INFRASTRUCTURE INVESTMENTS ,MONETARY POLICY ,INTEREST RATES ,URBAN MOBILITY ,PUBLIC DEBT ,CULTURAL DIVERSITY ,AIRPORTS ,INTEREST PAYMENTS ,FINANCIAL SERVICES ,WEALTH ,CLIMATE CHANGE ,LABOR FORCE PARTICIPATION ,INVESTMENT PLAN ,PRIVATE FINANCING ,INVESTMENT PROJECTS ,JUDICIAL INDEPENDENCE ,LOCAL DEBT ,TRADE BALANCE ,BINDING CONSTRAINT ,MACROECONOMIC STABILITY ,PORTFOLIO ,NATIONAL SAVINGS ,ROADS ,ENERGY CONSUMPTION ,PEDESTRIAN ,AIR ,TRANSIT AUTHORITIES ,ENDOWMENTS ,KEY CHALLENGES ,REGULATORY FRAMEWORK ,FISCAL POLICY ,EXCHANGE RATE ,FINANCIAL INSTITUTIONS ,EDUCATION SYSTEM ,SAFETY ,ECONOMIC ACTIVITIES ,EDUCATION DEVELOPMENT ,TELECOMMUNICATIONS ,CURRENCY ,HOUSEHOLDS ,DIVERSIFICATION ,PEOPLES ,PEDESTRIAN ACCIDENT ,NATURAL DISASTERS ,TOLLS ,INTELLECTUAL PROPERTY ,FUEL COST ,INFLATION RATES ,INTERNATIONAL FINANCIAL SYSTEM ,INVESTMENT RATES ,TRANSIT SYSTEM ,INCOME LEVEL ,TRADE FINANCE ,LOAN ,TRANSPORT INVESTMENT ,MICROFINANCE ,GOVERNMENT REGULATION ,PUBLIC DEBT MANAGEMENT ,ENROLLMENT ,INCOME GROUPS ,DEVELOPMENT BANK ,GENDER EQUALITY ,INSTITUTIONAL REFORMS ,TRADING ,CORRUPTION ,INCOME GROWTH ,BUDGETING ,SUSTAINABLE MOBILITY ,TRANSPORT ,TRANSPORTATION ,CASH TRANSFER ,PUBLIC INVESTMENT ,MONEY LAUNDERING ,CASH TRANSFERS ,DISABILITIES ,GENDER ,GENDER ROLES ,TAX SYSTEM ,INFRASTRUCTURE PROJECTS ,DRAINAGE ,INTERNAL AUDIT ,TAX ,BANKING SYSTEM ,ECONOMIC GROWTH ,TREATIES ,DEBT ISSUANCE ,FINANCIAL SECTOR REGULATION ,GROSS DOMESTIC PRODUCT ,PUBLIC TRANSIT SERVICE ,FAMILIES ,PRIVATE INVESTMENTS ,TECHNICAL ASSISTANCE ,LAND USE ,EXTERNAL DEFICIT ,SAFETY NETS ,BENEFICIARIES ,INSTRUMENT ,INTERNATIONAL STANDARDS ,DOMESTIC CAPITAL ,EMERGENCY RESPONSE ,PUBLIC INVESTMENTS ,FINANCIAL CRISIS ,PLEDGES ,INFORMATION SHARING ,FOREIGN FINANCING ,RISK MANAGEMENT ,BENEFICIARY ,FOREIGN DIRECT INVESTMENT ,REGULATORY FRAMEWORKS ,TAX REVENUE ,BUDGET MANAGEMENT ,SANITATION ,OPEN ECONOMY ,FINANCIAL STATEMENTS ,EXTERNAL DEBT ,SOCIAL INEQUALITIES ,BUSES ,GENDERS ,LABOR MARKET ,DEFAULTS ,HIGH ENERGY ,MACROECONOMIC ENVIRONMENT ,BANKING SECTOR ,EDUCATIONAL ATTAINMENT ,GENDER ASSESSMENT ,INVESTMENT ALLOCATION ,GROWTH OPPORTUNITIES ,VULNERABLE GROUPS ,HIGHWAYS ,METRO RAIL ,COMMERCIAL CREDIT ,ECONOMIC DEVELOPMENT ,FINANCIAL MANAGEMENT ,ACCESS TO FINANCE ,RETURN ,PORTFOLIO PERFORMANCE ,TRANSIT ,ECONOMIC ACTIVITY ,FUEL ,ACCESSIBILITY ,CREDIBILITY ,FINANCIAL SAFETY ,MONEY SUPPLY ,FOREIGN EXCHANGE ,PUBLIC FUNDS ,ACCOUNTING ,TRAVEL TIME ,SOCIAL RESPONSIBILITY ,DRIVING ,HIGHWAY ,ACCESS TO SERVICES ,HUMAN CAPITAL ,ECONOMIC DEVELOPMENTS ,CURRENT ACCOUNT ,TREASURY ,AGRICULTURAL SECTOR ,DISPARITIES IN ACCESS ,DOMESTIC BANKS ,GOVERNMENT SPENDING ,TRAFFIC ,POLICY DESIGN ,EXPENDITURES ,COMMERCIAL BANKS ,INTERNATIONAL BANK ,BUS ,TRANSPORT COSTS ,MONETARY FUND ,FISCAL POLICIES ,PRICE MOVEMENTS ,URBAN TRANSPORT SYSTEM ,TRANSFER PAYMENTS ,URBAN TRANSPORT ,AIR TRAVEL ,LEGAL FRAMEWORK ,FIXED INVESTMENT ,ACCESS TO JOB ,GAS EMISSIONS ,INVESTMENT PORTFOLIO ,CAPITAL INFLOWS ,CAPACITY BUILDING ,URBAN AREAS ,CURRENT ACCOUNT DEFICIT ,URBAN DEVELOPMENT ,EXPENDITURE ,ADVISORY SERVICES - Abstract
Panama's economic growth has been at the top of the Latin American and Caribbean (LAC) region in recent years. The country s rapid growth has been largely pro-poor and translated into significant poverty reduction. The new Administration is well placed to tackle these challenges, with its commitment to maintaining an open and diversified economy and redressing social imbalances. Looking ahead, the country s main challenges are to maintain the current growth performance and ensure that its benefits are extended to all. The World Bank Group s (WBG) new Country Partnership Framework (CPF) seeks to support Panama s continued high growth, while ensuring inclusion and opportunities for marginalized groups, and bolstering resilience and sustainability. These themes are highlighted as priorities in the Government s 2014-2019 Strategic Development Plan (SDP) and in the WBG s Systematic Country Diagnostic (SCD). The CPF seeks to maximize over a six-year period, the comparative advantages of the WBG, through packages of innovative public and private financing options based on cutting edge global knowledge and experience.
- Published
- 2015
40. What are Green Bonds?
- Author
-
World Bank
- Subjects
FIXED COUPON ,INVESTMENT ,DEBT SECURITY ,PENSION FUNDS ,INCOME SECURITIES ,STOCK MARKET ,PENSION FUND ,DEBT ISSUANCE ,INSURANCE COMPANIES ,SECURITIES MARKET ,DEBT INSTRUMENT ,INTERNATIONAL SETTLEMENTS ,STOCKS ,MATURITIES ,CREDIT AGENCY ,EQUITIES ,INSTITUTIONAL INVESTOR ,LENDING ,INVESTMENTS ,INSTRUMENT ,SPECTRUM OF RISK ,INVESTING ,BOND PORTFOLIO ,DUE DILIGENCE ,STOCK ,RETURNS ,SHAREHOLDER ,INTERNATIONAL CAPITAL MARKET ,POVERTY ,PLEDGES ,PENSION ,INVESTORS ,GOVERNMENT BONDS ,OPTIONS ,BONDS ,GUARANTEE ,DEBTOR ,SUPERVISORY AUTHORITY ,TRANSACTIONS ,LOANS ,BROKER ,SETTLEMENT ,EXCHANGE COMMISSION ,CHECK ,FIXED INTEREST ,TRANSPARENCY ,MARKET CAPITALIZATION ,EXCHANGES ,FINANCIAL MARKETS ,DOMESTIC DEBT MARKETS ,INSTITUTIONAL INVESTORS ,BORROWER ,INVESTMENT OPPORTUNITIES ,ISSUANCES ,MARKETS ,CREDITORS ,ASSET PORTFOLIOS ,BOND INVESTMENTS ,FINANCE ,INTERNATIONAL FINANCE ,DEBT MARKETS ,FINANCIAL INSTRUMENT ,STOCK MARKET CAPITALIZATION ,CREDIT RATINGS ,HEDGE ,INTERNATIONAL BOND ,SWAPS ,LIABILITIES ,STOCK EXCHANGE ,ASSET MANAGEMENT ,BALANCE SHEET ,DEBT INSTRUMENTS ,BOND RETURNS ,REVENUE BONDS ,CONSUMER LOANS ,LIQUIDITY ,INSTRUMENTS ,MORTGAGES ,PRIVATE CAPITAL ,DEBT ,CLEARING CORPORATION ,GUARANTEES ,BOND ISSUANCES ,MARKET ,BOND MARKETS ,TREASURIES ,LOCAL FINANCIAL MARKETS ,PROPERTY ,INTERNATIONAL BOND MARKETS ,DEBT OBLIGATIONS ,UNDERWRITER ,ECONOMIC DEVELOPMENT ,GOVERNMENT REGULATIONS ,GLOBAL CAPITAL ,RETURN ,BANK CREDITS ,COUPON ,LOAN PORTFOLIO ,FINANCIAL INFORMATION ,DOMESTIC DEBT ,HEDGE FUNDS ,PUBLIC OFFERING ,DISBURSEMENTS ,CAPITAL MARKET ,SECURITIES INDUSTRY ,CURRENCIES ,PRIVATE PROPERTY ,CREDIBILITY ,EQUITY INVESTMENT ,PORTFOLIO ,EXCHANGE ,PORTFOLIOS ,SECURITY ,MARKET PARTICIPANTS ,MARKET SIZE ,DERIVATIVES ,CAPITAL MARKETS ,CREDITWORTHINESS ,SECURITIES MARKETS ,CD ,FINANCIAL INSTITUTIONS ,GOOD ,BOND MARKET ,PRIVATE PLACEMENT ,INSURANCE ,REVENUE ,CURRENCY ,CORPORATE BONDS ,EQUITY ,BOND ,INVESTMENT STRATEGY ,TREASURY ,ASSET MANAGERS ,MARKET CONDITIONS ,GLOBAL BANKING ,MARKET PRICE ,EQUITY MARKET ,INVESTOR PARTICIPATION ,FOREIGN CURRENCIES ,EQUITY INDEX ,LOAN ,BOND INVESTORS ,MARKET PLAYERS ,BOND ISSUERS ,BOND ISSUANCE ,DEVELOPING COUNTRIES ,MATURITY ,SECURITIES ,INTERNATIONAL BANK ,COMMERCIAL BANKS ,GLOBAL BOND ,FUTURE ,INFORMATION DISCLOSURE ,CONTRACT ,CREDIT RATING ,INVESTMENT BANKS ,CREDIT HISTORY ,PRIVATE FINANCE ,ISSUANCE ,CORPORATE BOND ,DEVELOPMENT BANK ,INVESTMENT BANK ,CREDIT QUALITY ,INVESTOR ,INFRASTRUCTURE BONDS ,CAPITALIZATION ,INTEREST ,TRADING ,BANK BONDS ,CASH FLOWS ,CAPITAL BASE ,REVENUES ,INVESTMENT PORTFOLIO ,FINANCIAL STRUCTURE ,PRIVATE SECTOR BANK ,BOND ISSUE ,SHARE ,OUTSTANDING LOANS ,UNDERWRITERS ,INTEREST RATE ,SOVEREIGN GUARANTEE ,INTERNATIONAL INVESTOR ,GLOBAL CAPITAL MARKETS ,FINANCIAL INSTRUMENTS ,INTERNATIONAL CAPITAL ,TRANSACTION - Abstract
The explosive growth of green bonds in the capital markets is increasingly attracting attention from investors. This surge in interest has created a demand for accessible information on the green bond market. This primer was created in response to this demand and covers the principles of this relatively new financial instrument. The following intends to serve as a guide for those interested in better understanding the nature of green bonds. The content will aim to distinguish green bonds from other traditional financial instruments. It will also provide insight into the potential of green bonds to mobilize new sources of climate finance. This paper includes the following highlights: understanding bonds (chapter one); understanding green bonds (chapter two); and benefits and potential.
- Published
- 2015
41. Emission gap to 2 degree pathways
- Subjects
2 degree target ,ghg projections ,pledges ,emission gap ,SDG 13 - Climate Action ,SDG 7 - Affordable and Clean Energy - Abstract
New international climate change agreement is the main target of Paris climate negotiations in Paris in December 2015. For the agreement, countries will give promises of emission reductions. Previously these promises have been referred as 'pledges' but, for Paris negotiations, countries will submit Intended Nationally Determined Contributions (INDCs). Three largest greenhouse gas (GHG) emitting countries (China, USA and EU) have given some indications of their INDCs. This report summarizes existing pledges and preliminary INDCs for Paris. Current pledges have varying scopes and coverages. Countries are urged to attach qualitative information to their INDCs, but the level of submitted details is unknown at the time of the writing. This report provides a framework to assess and compare the existing pledges and INDCs after country submissions. Report profiles and analyses 8 biggest GHG emitting countries: China, USA, EU, India, Russia, Indonesia, Brazil and Japan. The rest of the world is assessed more briefly. Each country profile includes emission statistics; summary of country's pledge and preliminary INDC when available; comparison of the GHG projection under current legislation and the country's pledge; GHG emission scenarios up to 2050 with different ambition levels; and calculated emission reduction indicators from these scenarios such as GHG per GDP, GHG per capita and renewable energy share. Based on these national scenarios, we compile three global emission reduction scenarios and compare these three scenarios to the 2 degree target pathways. The GHG development under the current legislation is at too high level compared to the 2 degree target, but ambitious GHG reductions may still be sufficient to reach 2 degree target. We need quick action to reach these emission low carbon pathways.
- Published
- 2015
42. Emission gap to 2 degree pathways:Framework to assess the ambition of Intended Nationally Determined Contributions, INDCs
- Author
-
Lindroos, Tomi J. and Ekholm, Tommi
- Subjects
2 degree target ,ghg projections ,pledges ,emission gap ,SDG 13 - Climate Action ,SDG 7 - Affordable and Clean Energy - Abstract
New international climate change agreement is the main target of Paris climate negotiations in Paris in December 2015. For the agreement, countries will give promises of emission reductions. Previously these promises have been referred as 'pledges' but, for Paris negotiations, countries will submit Intended Nationally Determined Contributions (INDCs). Three largest greenhouse gas (GHG) emitting countries (China, USA and EU) have given some indications of their INDCs. This report summarizes existing pledges and preliminary INDCs for Paris. Current pledges have varying scopes and coverages. Countries are urged to attach qualitative information to their INDCs, but the level of submitted details is unknown at the time of the writing. This report provides a framework to assess and compare the existing pledges and INDCs after country submissions. Report profiles and analyses 8 biggest GHG emitting countries: China, USA, EU, India, Russia, Indonesia, Brazil and Japan. The rest of the world is assessed more briefly. Each country profile includes emission statistics; summary of country's pledge and preliminary INDC when available; comparison of the GHG projection under current legislation and the country's pledge; GHG emission scenarios up to 2050 with different ambition levels; and calculated emission reduction indicators from these scenarios such as GHG per GDP, GHG per capita and renewable energy share. Based on these national scenarios, we compile three global emission reduction scenarios and compare these three scenarios to the 2 degree target pathways. The GHG development under the current legislation is at too high level compared to the 2 degree target, but ambitious GHG reductions may still be sufficient to reach 2 degree target. We need quick action to reach these emission low carbon pathways.
- Published
- 2015
43. Making a "Pledge": Moral Suasion and Health Promotion Practice.
- Author
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Laverack, Glenn
- Subjects
- *
HEALTH promotion , *PUBLIC health , *MEDICAL care , *BEHAVIOR modification , *FEMALE genital mutilation - Abstract
Moral suasion offers a versatile and low-cost approach to influence social norms and risky health behaviours, but is often neglected in health promotion in favour of using educational approaches. The purpose of this paper is to discuss the challenges and the benefits of using moral suasion in health promotion. Past and present experiences of using moral suasion to promote health are discussed in conjunction with other approaches, such as harm reduction. The challenge of using moral suasion as an approach is that it focuses on individual behaviour change, rather than addressing the broader structural causes of poor health. However, the paper concludes that the versatility of the moral suasion approach and the success of using "pledges" means that it can be an important intervention, alongside other educational and motivational techniques, to help to change behaviours at the individual and collective levels. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
44. Moldova Financial Sector Assessment
- Author
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World Bank Group
- Subjects
FINANCIAL SECTOR DEVELOPMENT ,WARRANTS ,BALANCE SHEET GROWTH ,BOOK ENTRY SYSTEM ,SETTLEMENT SYSTEMS ,PRIVATE INVESTMENT ,FOREIGN EXCHANGE RESERVES ,MOVABLE ASSETS ,SHAREHOLDERS ,DEPOSIT ,INFLATION ,LIQUIDATION ,EMERGING MARKET ,BROAD MONEY ,EQUITIES ,DEPOSIT INSURANCE ,LEGAL AUTHORITY ,UNSECURED CREDIT ,LACK OF TRANSPARENCY ,CAPITAL REQUIREMENTS ,DEBT SERVICE ,CONSUMER PRICE INDEX ,COLLATERAL ,FINANCIAL MARKET ,FRAUD ,NON-PERFORMING LOANS ,AUDITORS ,WITHDRAWAL ,MARKET CAPITALIZATION ,TRANSPARENCY ,MORTGAGE ,FINANCIAL MARKETS ,NPL ,SECURITIES REGISTRATION ,DEPOSITS ,CREDITORS ,SYSTEMIC RISK ,BANK DEPOSITS ,MAXIMUM MATURITY ,JOINT STOCK COMPANY ,BALANCE SHEET ,NATIONAL SECURITIES ,LIQUIDITY ,CREDIT EXPANSION ,CREDIT RISK ,PRUDENTIAL REGULATIONS ,CENTRAL DEPOSITORY ,PROFITABILITY ,CONNECTED LENDING ,JOINT STOCK COMPANIES ,EQUITY RETURN ,OWNERSHIP STRUCTURES ,JUDICIAL INDEPENDENCE ,LENDERS ,LEGAL SYSTEM ,CONSOLIDATION ,RETURN ON ASSETS ,MARKET PARTICIPANTS ,UNSECURED LOANS ,INSURANCE MARKET ,INSOLVENCY REGIME ,CAPITAL MARKETS ,CREDITWORTHINESS ,FINANCIAL SYSTEM ,SECONDARY MARKET ,LEGAL PROVISIONS ,LIABILITY ,EXCHANGE RATE ,FINANCIAL INSTITUTIONS ,CENTRAL SECURITIES DEPOSITORY ,GOVERNMENT SECURITIES ,SECURITIES TRANSACTIONS ,LEGAL REFORMS ,POLICY RESPONSE ,PRIVATE REGISTRIES ,MARKET PLAYERS ,SECURITIES ,NONPERFORMING LOANS ,JUDICIAL SYSTEM ,MICROFINANCE ,REAL PROPERTY ,CREDIT HISTORY ,INSTITUTIONAL ARCHITECTURE ,REPAYMENT ,MARKET INFRASTRUCTURE ,TRADING ,SUPERVISORY AUTHORITIES ,CAPITAL FORMATION ,AUDIT COMMITTEES ,LAWS ,INSURANCE PREMIUMS ,LIQUIDITY RISK ,DEPOSITORS ,LIQUIDITY POSITIONS ,DEBTORS ,FINANCIAL FLOWS ,ACCOUNTABILITY ,REGULATORY STANDARDS ,TRANSACTION ,MINORITY SHAREHOLDERS ,INTERNAL AUDIT ,TAX ,BANKING SYSTEM ,GROSS DOMESTIC PRODUCT ,BANKING SUPERVISION ,UNSECURED CREDITORS ,INSURANCE COMPANIES ,GOVERNMENT DEBT ,CONTINGENCY PLANNING ,CREDITOR ,LIQUIDITY RATIO ,SAFETY NETS ,BOOK ENTRY ,INSTRUMENT ,TERRORISM ,BAILOUT ,INTERNATIONAL STANDARDS ,ASSET QUALITY ,RISK FACTOR ,RULE OF LAW ,FINANCIAL CRISIS ,ARBITRATION ,FINANCIAL TRANSACTIONS ,BANK BALANCE SHEETS ,SETTLEMENT RISKS ,REGISTRATION SYSTEM ,SHAREHOLDER ,RISK MANAGEMENT SYSTEMS ,GOVERNMENT BONDS ,PLEDGES ,ENFORCEMENT MECHANISMS ,CONSUMER PROTECTION ,CAPACITY CONSTRAINTS ,SETTLEMENT ,DEPOSITOR ,RISK MANAGEMENT ,BANKING CRISIS ,BANK LIQUIDATION ,FORECLOSURE ,PAYMENT SYSTEM ,BOOK-ENTRY ,GUARANTEE FUND ,SOLVENCY ,BORROWER ,PRIMARY DEALERS ,REGULATORY AUTHORITIES ,MARKET STRUCTURE ,FINANCIAL DISTRESS ,CREDIT ASSOCIATIONS ,FINANCIAL STATEMENTS ,COLLECTIVE ACTION ,EXTERNAL DEBT ,EQUITY HOLDINGS ,SAFETY NET ,STOCK EXCHANGE ,BANK PORTFOLIOS ,PAYMENT OF INTEREST ,BANKING SECTOR ,FLOATING RATE ,CAPITAL ADEQUACY ,OWNERSHIP STRUCTURE ,ECONOMIC DEVELOPMENT ,CENTRAL BANK ,RETURN ,MARKET DISCIPLINE ,NATIONAL BANK ,NONPERFORMING LOAN ,SUPERVISORY POWERS ,MACROECONOMIC POLICIES ,CORPORATE SECURITIES ,CAPITAL MARKET ,BANKING REGULATION ,FRAUD RISKS ,CREDIBILITY ,FOREIGN EXCHANGE ,LEGAL PROTECTION ,BANK LENDERS ,ACCOUNTING ,COMMERCIAL BANK ,REGISTRY SYSTEM ,CONFLICT OF INTEREST ,REMITTANCES ,ARBITRAGE ,TERM DEPOSIT ,RESERVE ,FINANCIAL STABILITY ,INSURANCE ,CAPITAL MARKET LAW ,TURNOVER ,CREDIT REPORTING ,OFFSHORE BANKS ,BANK LOANS ,LIFE INSURANCE ,RISK CONTROL ,TREASURY ,FINANCIAL INSTITUTION ,MICROFINANCE INSTITUTIONS ,CREDIT PRACTICES ,DOMESTIC BANKS ,LEGISLATION ,COMMERCIAL BANKS ,MONETARY AUTHORITY ,BANK LIQUIDITY ,SECURITY INTERESTS ,NEW ENTRANTS ,NONBANK FINANCIAL INSTITUTIONS ,PRUDENTIAL REQUIREMENTS ,TRADE CREDITS ,MARKET RISK ,ASSET CLASSIFICATION ,CREDITOR RIGHTS ,MACROECONOMIC CONDITIONS ,FINANCIAL COLLATERAL ,LEGAL FRAMEWORK ,NATIONAL SAVING ,BANK ASSETS ,SAVINGS ,CAPACITY BUILDING ,LIQUID ASSETS ,FINANCIAL STRENGTH ,FOREIGN CURRENCY ,INTEREST RATE ,GROSS SETTLEMENT SYSTEM - Abstract
Although Moldova has made some important advances since the 2008 FSAP update, risks to banking sector stability have become severe. There is an urgent need, therefore, to improve transparency and governance in the banking system. Although the banking sector appears to be well capitalized and liquid, important pockets of weakness remain and vulnerabilities may be masked by fraud or misreporting. The two securities settlement systems are in need of updating, though plans to take this reform forward are not finalized. Weaknesses in the insolvency and creditor or debtor regime create uncertainty and may deter some stakeholders from engaging in financial transactions. Especially in light of the weaknesses described above and recent geopolitical uncertainties, urgent action is needed to address these and mitigate the risks to which the financial system appears to be exposed.
- Published
- 2014
45. Healths, toasts and pledges: political drinking in the seventeenth century
- Author
-
Nicholls, James, author
- Published
- 2009
- Full Text
- View/download PDF
46. Lebanon Economic Monitor, Spring 2013 : Growing Tensions in a Resilient Economy
- Author
-
World Bank
- Subjects
EMERGING MARKET COUNTRIES ,UNCERTAINTY ,EXTERNAL FACTORS ,PRIVATE INVESTMENT ,INFLATIONARY PRESSURES ,FOREIGN EXCHANGE RESERVES ,BOND YIELDS ,DEPOSIT ,INFLATION ,FISCAL BALANCE ,TOTAL EXTERNAL DEBT ,EMERGING MARKET ,FISCAL DEFICIT ,RISK PERCEPTIONS ,SUPPLY SIDE ,INVESTOR CONFIDENCE ,UNEMPLOYMENT ,YIELD SPREAD ,T-BOND ,IMPORT ,UPWARD PRESSURE ,DOMESTIC CURRENCY ,INTEREST RATE PAYMENTS ,DISPOSABLE INCOME ,REGISTRATION FEES ,COMPETITIVENESS ,FISCAL BURDEN ,DEBT SERVICE ,LONG-TERM EXTERNAL DEBT ,PENSION ,FINANCIAL MARKET ,BALANCE OF PAYMENTS DEFICIT ,PUBLIC FINANCES ,SLOW GROWTH ,BANQUE DU LIBAN ,MARKET CAPITALIZATION ,EMERGING MARKETS ,FINANCIAL MARKETS ,PENSIONS ,PRIVATE SECTOR CREDIT ,BALANCE OF PAYMENTS ,DEPOSITS ,PUBLIC SERVICES ,PURCHASING POWER ,BASIS POINTS ,DOWNWARD PRESSURE ,INFRASTRUCTURE INVESTMENTS ,MONETARY POLICY ,EXCHANGE RATE RISK ,INCOME TAXES ,SLOWDOWN ,LIQUIDITY ,INTEREST RATES ,PRICE INDEX ,POVERTY REDUCTION ,PUBLIC DEBT ,ARREARS ,CREDIT RISK ,PEG ,INTEREST PAYMENTS ,LOCAL BUSINESSES ,ANNUAL GROWTH ,MINIMUM WAGE ,TOTAL DEPOSITS ,BUDGET DEFICIT ,POLITICAL INSTABILITY ,PROFITABILITY ,CONSUMERS ,DISBURSEMENTS ,SURPLUS ,GDP ,DOMESTIC INFLATION ,TRADE BALANCE ,MACROECONOMIC STABILITY ,DISTORTIONS ,ECONOMIC SLOWDOWN ,MULTIPLIERS ,CONSOLIDATION ,INCOME TAX ,DEBT RATIO ,DERIVATIVES ,CONSUMPTION DEMANDS ,INTERNATIONAL RESERVES ,DOMESTIC INTEREST RATES ,FISCAL POLICY ,SPARE CAPACITY ,EXCHANGE RATE ,EDUCATION SYSTEM ,BOND MARKET ,HOUSEHOLDS ,COST OF LIVING ,SOCIAL SAFETY NETS ,INFLATION RATES ,COUNTRY DEBT ,RE-EXPORTS ,FINANCIAL MARKET PARTICIPANTS ,CONFIDENCE INDEX ,TAX REVENUES ,REAL GDP ,UNEMPLOYMENT RATES ,MARKET SHARE ,CREDIT RATING ,LABOR MARKETS ,INCOME GROUPS ,REAL ESTATE ,CURRENT ACCOUNT DEFICITS ,HOUSING ,FOREIGN EXCHANGE RESERVE ,TRADING ,COMPARATIVE ADVANTAGE ,IMPORT GROWTH ,INFLATION EXPECTATIONS ,TRANSPORT ,LAWS ,PENSION SYSTEM ,PUBLIC INVESTMENT ,SOCIAL NETWORKS ,TAX SYSTEM ,INTERNATIONAL PRICES ,RISK EXPOSURE ,FOREIGN INFLOWS ,TAX ,COST OF IMPORTS ,INVENTORY ,STOCK MARKET ,ECONOMIC GROWTH ,TRADE UNIONS ,MATURITIES ,TOTAL REVENUE ,MARKET ENTRY ,BANK LENDING ,SAFETY NETS ,BENEFICIARIES ,PRODUCTIVITY ,INFLATION RATE ,BALANCE SHEETS ,PLEDGES ,ENABLING ENVIRONMENT ,CONSUMER CONFIDENCE ,ASSETS ,FINANCIAL ASSISTANCE ,TREASURY BONDS ,TUITION ,DEBT STRUCTURE ,INVENTORIES ,OUTPUT GAP ,EXPORTERS ,INVESTMENT DECISION ,TOTAL IMPORT ,TRADE DEFICIT ,GROWTH PERFORMANCE ,CAPITAL GAINS ,EXTERNAL DEBT ,NATIONAL INCOME ,NET EXPORTS ,BUFFERS ,SUPPLY DISRUPTIONS ,LABOR MARKET ,SAFETY NET ,STOCK EXCHANGE ,CIVIL SERVICE ,SHORT-TERM CAPITAL ,LIVING ADJUSTMENT ,MARKET YIELDS ,ACCOUNTING FRAMEWORK ,BANKING SECTOR ,EXTERNAL INDEBTEDNESS ,LABOR MOBILITY ,DEBT REDUCTION ,FINANCIAL MANAGEMENT ,CENTRAL BANK ,RETURN ,AGRICULTURE ,POLICY RESPONSES ,PRIVATE CONSUMPTION ,M3 ,INTERNATIONAL INTEREST RATES ,DEFICITS ,MONEY SUPPLY ,FOREIGN EXCHANGE ,PRIVATE BANKS ,INTERNATIONAL INTEREST ,ACCOUNTING ,ECONOMIC DEMAND ,AGGREGATE DEMAND ,REMITTANCES ,DEBT STOCK ,HUMAN CAPITAL ,PRIVATE INVESTORS ,INSURANCE ,ECONOMIC DEVELOPMENTS ,SOCIAL INSURANCE SYSTEM ,BANK LOANS ,CURRENT ACCOUNT ,EUROBOND ,TOTAL EXPORTS ,TREASURY ,BASIS POINT ,MIGRATION ,NOMINAL WAGES ,SHORT-TERM EXTERNAL DEBT ,WEIGHTS ,BUSINESS CONFIDENCE ,GOVERNMENT SPENDING ,INTEREST RATE SPREADS ,PENSION REFORMS ,EXPENDITURES ,IMPORTS ,GROWTH RATE ,COMMERCIAL BANKS ,CORE INFLATION ,RESERVE ACCUMULATION ,FISCAL POLICIES ,BILL ,GOVERNMENT DEFICIT ,RECEIPTS ,JOB CREATION ,DOMESTIC ECONOMIC ACTIVITY ,PRODUCTION DISRUPTIONS ,REFUGEE ,INTEREST INCOME ,LABOR FORCE ,ENTREPRENEURSHIP ,FINANCIAL SUPPORT ,SAVINGS ,CAPITAL INFLOWS ,DOMESTIC PRICES ,STRUCTURAL REFORMS ,CHECKS ,REFUGEES ,CURRENT ACCOUNT DEFICIT ,FOREIGN CURRENCY ,INTEREST RATE ,CORPORATE PROFITS ,CASH PAYMENT ,YIELD CURVE ,EXPENDITURE - Abstract
The Lebanon Economic Monitor provides an update on key economic developments and policies over the past six months. It also presents findings from recent World Bank work on Lebanon. The political standoff combined with an escalating Syrian conflict hampered growth in 2012, and is projected to continue doing so through the first half of 2013. Economic growth in 2012 is estimated to have decelerated to 1.4 percent due to a weak second half of 2012 following a downturn in the security situation. The major fiscal expansion that took place in 2012 is creating fiscal challenges for 2013, particularly in the context of a promised increase in public salaries. The fiscal expansion, measured by the change in the central government s primary fiscal balance, reached a staggering 4.6 percentage points of GDP in 2012. The overall fiscal deficit reached 9.4 percent of GDP in 2012. Inflationary pressures rose despite tepid economic activity. Headline inflation accelerated notably in the second half of 2012. Core inflation has also been on an upward trend, reaching 5.3 percent by end-2012. Domestically, inflationary pressures can primarily be attributed to (i) increases in disposable income in early 2012 due to the increase in the minimum wage and public sector salaries cost of living adjustment; and (ii) a cumulative output gap that remains positive following above-potential growth in 2007-2010. The conflict in Syria, a country that is closely linked, both through historical, social and economic ties to Lebanon has created a humanitarian crisis of enormous scale. While Lebanon is to be commended for its openness to Syrian refugees, the conflict is severely and negatively impacting the Lebanese economy. The largest impact arises through the insecurity and uncertainty spillovers and touches at the heart of Lebanon s societal fabric.
- Published
- 2013
47. Doing Business Economy Profile 2013 : Hong Kong, SAR, China
- Author
-
World Bank and International Finance Corporation
- Subjects
COLLATERAL LAW ,ORIGINAL INSTRUMENTS ,WAREHOUSE ,PUBLIC REGISTRY ,TAX ,PERSONAL ASSETS ,SALES AGREEMENT ,MOVABLE ASSETS ,DEPOSIT ,CREDIT CARDS ,INSURANCE COMPANY ,VERIFICATION ,OVERHEAD ,BUSINESS REGULATION ,COMMERCIAL BUSINESS ,BUSINESS SECTORS ,BANK LOAN ,DUE DILIGENCE ,COMPETITIVENESS ,REGULATORY ENVIRONMENT ,SECURITY INTEREST ,ENFORCEMENT PROCEDURES ,SHAREHOLDER ,COLLATERAL ,PLEDGES ,SERVICE PROVIDERS ,DEBTOR ,INFORMATION SHARING ,PROCUREMENT ,E-MAIL ,USERS ,DISCLOSURE REQUIREMENTS ,SETTLEMENT ,TRADE CREDITORS ,TRANSPARENCY ,MORTGAGE ,ONE-STOP SHOP ,PRIVATE SECTOR CREDIT ,REGISTRATION FEE ,BORROWER ,SECURITIES REGULATIONS ,CREDITORS ,NOTARY ,TECHNICAL STANDARDS ,COMMERCIAL ACTIVITIES ,LENDING DECISIONS ,INTERNATIONAL FINANCE ,SEARCH ,FINANCIAL STATEMENTS ,PROPERTY RIGHTS ,CAPITAL GAINS ,ELECTRONIC SERVICES ,STOCK EXCHANGE ,CADASTRE ,LEGAL RIGHTS ,INVESTOR PROTECTION ,DEFAULTS ,INFORMATION SYSTEM ,PURCHASING ,CERTIFICATE ,COMPLIANCE COSTS ,MINORITY SHAREHOLDER ,CONTRACTORS ,STAMP DUTY ,COLLATERAL AGREEMENT ,FINANCIAL HISTORY ,BUSINESS REGISTRATION ,DEBTS ,TRANSLATION ,RETURN ,TELEPHONE ,TAX RATE ,DEEDS ,COLLATERAL REGISTRY ,BUSINESS INDICATOR ,ECONOMIC ACTIVITY ,INSURANCE POLICY ,ELECTRICITY ,SELLING ,REGISTRATION PROCESS ,LAND RECORDS ,COLLATERAL FOR LOANS ,DOMAIN ,ACCOUNT ,BANKRUPTCY ,BUSINESS ENVIRONMENT ,LIMITED LIABILITY ,CREDIT INFORMATION SYSTEM ,LENDER ,RESULT ,TRANSACTIONS SYSTEM ,CONFLICT OF INTEREST ,CREDIT INFORMATION ,USES ,POSSESSORY SECURITY ,PRIVATE CREDIT BUREAU ,ACCESS TO SERVICES ,INTERFACE ,DISTRIBUTION NETWORK ,LICENSE ,INSURANCE ,TURNOVER ,PRIVATE SECTOR ,TELEPHONE LINE ,PRIVATE CREDIT ,FINANCIAL INSTITUTION ,ORIGINAL ASSETS ,COMPANY LAWS ,MINORITY SHAREHOLDER PROTECTIONS ,BUSINESS FACILITATION ,SECURITIES ,BUYER ,IMMOVABLE PROPERTY ,INTERNATIONAL BANK ,FINANCIAL RESOURCES ,DEED ,MINIMUM CAPITAL REQUIREMENT ,MATERIAL ,CREDIT HISTORY ,INSTALLATION ,REPAYMENT ,SALES ,CREDIT SOURCE ,ISSUANCE ,ONLINE PAYMENT ,MACROECONOMIC CONDITIONS ,TAX RULES ,TRADING ,NEW MARKETS ,MOVABLE COLLATERAL ,BUSINESS ENTRY ,INSPECTION ,BUSINESSES ,POST OFFICES ,LEVY ,LOCAL BUSINESS ,TRUSTEE ,STATUTORY REQUIREMENTS ,QUERIES ,REGISTRY ,MINORITY INVESTORS ,LIENS ,BANKRUPTCY LAW ,GOOD PRACTICE ,TRANSACTION - Abstract
This tenth edition of Doing Business sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting eleven areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and employing workers. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 185 economies, from Afghanistan to Zimbabwe, over time. The indicators are used to analyze economic outcomes and identify what reforms have worked, where and why. This economy profile presents the Doing Business indicators for Hong Kong SAR, China. To allow useful comparison, it also provides data for other selected economies (comparator economies) for each indicator. The data in this report are current as of June 1, 2012 (except for the paying taxes indicators, which cover the period January - December 2011).
- Published
- 2012
48. Afghanistan Economic Update, October 2012
- Author
-
World Bank
- Subjects
TAX COMPLIANCE ,FISCAL REFORMS ,TOTAL DEBT ,GROWTH RATES ,TAX ,ECONOMIC GROWTH ,OPERATING EXPENDITURES ,PRIVATE INVESTMENT ,SECURITY RISK ,FOOD PRICE ,EXCHANGE RATES ,COMMODITIES ,FAMILIES ,SHAREHOLDERS ,TRUST FUND ,COMMODITY ,INFLATION ,MONEY GROWTH ,OPEN MARKET ,BROAD MONEY ,FINANCIAL INTERMEDIATION ,INFORMATION TECHNOLOGY ,INVESTOR CONFIDENCE ,INCOME ,EXPORT GROWTH ,INSTRUMENT ,TERRORISM ,CREDIT ANALYSIS ,RULE OF LAW ,COMPETITIVENESS ,FOOD PRICES ,REGULATORY ENVIRONMENT ,TRADE FACILITATION ,PENSION ,PLEDGES ,PUBLIC FINANCES ,RESERVES ,MICRO FINANCE SECTOR ,WITHDRAWAL ,FARMERS ,TAX COLLECTION ,WHOLESALE PRICES ,ECONOMIC OUTLOOK ,PRICE INCREASES ,FINANCIAL MARKETS ,TIMELY PAYMENT ,NPL ,EXPORT MARKET ,FOREIGN DIRECT INVESTMENT ,BALANCE OF PAYMENTS ,INCOMES ,DEMOCRACY ,DEPOSITS ,REMITTANCE ,GROWTH PROJECTIONS ,PUBLIC SERVICES ,ENTERPRISE DEVELOPMENT ,BANK DEPOSITS ,TRADE DEFICIT ,WAGES ,EXTERNAL DEBT ,NEW MARKET ,GOVERNMENT FINANCE ,NEW PRODUCTS ,CIVIL SERVICE ,MONETARY POLICY ,INTERNAL CONTROLS ,DEMAND FOR CREDIT ,DONOR FUNDING ,GDP PER CAPITA ,REFORM PROGRAM ,BANKING SECTOR ,HUMAN RIGHTS ,PRICE CHANGES ,DOMESTIC CREDIT ,PENSION REFORM ,COMMODITY PRICE ,SUSTAINABLE DEVELOPMENT ,CREDITS ,COMMERCIAL LOANS ,BUDGET DEFICIT ,FINANCIAL MANAGEMENT ,CONSUMPTION EXPENDITURE ,AGRICULTURE ,LOAN PORTFOLIO ,DEVELOPMENT INVESTMENTS ,POLICY RESPONSES ,DEVELOPMENT PROJECTS ,INVESTMENT CLIMATE ,DISBURSEMENTS ,M2 ,WTO ,ACCESS TO MARKETS ,AUDITS ,TRADE BALANCE ,PORTFOLIO ,BANKRUPTCY ,BUSINESS ENVIRONMENT ,POLITICAL ECONOMY ,ACCOUNTING ,HUMAN DEVELOPMENT ,COMMERCIAL BANK ,CONSOLIDATION ,GOVERNMENT REVENUES ,EXPORTS ,EXPORT BASE ,MARKET DEVELOPMENT ,INTERNATIONAL DEVELOPMENT ,CURRENT ACCOUNT BALANCE ,INTERNATIONAL TRADE ,REVENUE MOBILIZATION ,BENCHMARKS ,DEBT STOCK ,INTERNATIONAL RESERVES ,REGULATORY FRAMEWORK ,REGIONAL INTEGRATION ,RESERVE ,SUBNATIONAL FINANCE ,EXCHANGE RATE ,PRIVATE INVESTORS ,EQUIPMENT ,FOREIGN CAPITAL ,CURRENCY ,HOUSEHOLDS ,EXCHANGE RATE FLUCTUATIONS ,INVESTMENT FINANCING ,ECONOMIC DEVELOPMENTS ,CURRENT ACCOUNT ,AGRICULTURAL SECTOR ,COMMERCIAL BANKING ,INTERNATIONAL BANKS ,INCOME LEVEL ,MICROFINANCE INSTITUTIONS ,BALANCE OF PAYMENT ,BUSINESS CONFIDENCE ,GOVERNMENT SPENDING ,PRIVATIZATION ,AGRICULTURAL OUTPUT ,LOAN ,EXPENDITURES ,PUBLIC FINANCE ,EXPORT EARNINGS ,REAL GDP ,MICROFINANCE ,RURAL ACCESS ,MICROFINANCE SECTOR ,NEW MARKETS ,CORRUPTION ,LEGAL FRAMEWORK ,INVESTOR INTEREST ,OPEN MARKET OPERATIONS ,GOVERNMENT INVESTMENTS ,BUDGETING ,NATURAL RESOURCES ,PROFIT MARGIN ,REAL SECTOR ,TRANSPORT ,LAWS ,LEVY ,SAVINGS ,INVESTMENT PORTFOLIO ,MICRO FINANCE ,CAPITAL INFLOWS ,CAPACITY BUILDING ,TAX ADMINISTRATION ,FINANCING NEEDS ,OUTSTANDING LOANS ,TRUST FUNDS ,URBAN AREAS ,CURRENT ACCOUNT DEFICIT ,URBAN DEVELOPMENT ,ACCOUNTABILITY ,UNDERDEVELOPED FINANCIAL SECTOR ,EXPENDITURE - Abstract
Afghanistan is in a state of transition which involves the handover of security responsibilities from international forces to the Afghan government. However, at present, Afghanistan's economy is growing strongly as a result of an exceptionally good harvest this year. Real gross domestic product (GDP) growth will most likely close the calendar year at 10 percent, a significant increase from last year's 5.8 percent. The services and construction sectors continue to grow strongly, driven mostly by continued high military spending and external aid. The good harvest has also brought Afghanistan to near food self-sufficiency and slowed inflation to 4.6 percent in July 2012 (y-o-y). Progress in the mining sector is clouded by uncertainty about a new mineral law. While investor interest in the sector is encouraging, gaps in the legal and regulatory framework of the sector do not provide sufficient confidence to investors to start operations or make firm commitments. A new low is in preparation but has also been heavily debated. Afghanistan's economic growth prospects for 2012 give cause for optimism. Although real GDP growth slowed, to around 7 percent in 2011 (from 8 percent the year before), due mainly to unfavorable weather and a poor harvest, the agriculture sector rebounded strongly in 2012 and is expected to boost economic growth to over 10 percent. Agriculture is an important but volatile component of economic growth.
- Published
- 2012
49. Fiscal Crisis, Economic Prospects : The Imperative for Economic Cohesion in the Palestinian Territories, Economic Monitoring Report to the Ad Hoc Liaison Committee
- Author
-
World Bank
- Subjects
CUSTOMS ,FISCAL REFORMS ,GEOGRAPHICAL AREAS ,LABOR FORCE SURVEY ,FOREIGN INVESTORS ,BANKING SYSTEM ,ECONOMIC GROWTH ,GROSS DOMESTIC PRODUCT ,PRIVATE INVESTMENT ,PRIVATE SECTOR INVESTMENT ,CROSSING ,CAPABILITY ,CONGESTION ,CUSTOMER BASE ,DEPOSIT ,ROAD ,FINANCING NEED ,JOB OPPORTUNITIES ,CROSSINGS ,EMPLOYMENT ,EXPORT MARKETS ,TECHNICAL ASSISTANCE ,BANK OF ISRAEL ,PRIVATE SECTOR FIRMS ,TUNNELS ,TRANSPORTATION COSTS ,FINANCIAL INTERMEDIATION ,DEPOSIT INSURANCE ,UNEMPLOYMENT ,UNDERGROUND ,INTERNATIONAL STANDARDS ,INFRASTRUCTURE INVESTMENT ,INVESTMENT FUND ,MUNICIPALITIES ,DONOR SUPPORT ,COMPETITIVENESS ,CARRIERS ,ANTI-MONEY LAUNDERING ,PROJECT MANAGEMENT ,CAR ,INDUSTRIAL DEVELOPMENT ,PENSION ,PLEDGES ,RESERVES ,RECURRENT EXPENDITURE ,MEDIUM ENTERPRISE ,MEDIUM ENTERPRISES ,TELECOMMUNICATIONS INDUSTRY ,SETTLEMENT ,FARMERS ,HIGH INTEREST RATES ,PAYMENT SYSTEM ,PRIVATE VEHICLES ,PENSIONS ,IMPORT DUTIES ,INDUSTRIAL ENTERPRISES ,FOREIGN DIRECT INVESTMENT ,INCOME CATEGORIES ,INSTITUTIONAL CAPACITY ,COMMUNICATION SERVICES ,PHONE ,INTERNATIONAL MARKETS ,POLITICAL RISKS ,WAGES ,EXPLOITATION ,INSTITUTION ,LACK OF ACCESS ,LEGISLATIVE FRAMEWORK ,CIVIL SERVICE ,ROAD NETWORK ,TAX COLLECTIONS ,SUPERVISION ,BANK HOLDING ,DONOR FUNDING ,INTEREST RATES ,ARREARS ,DEBT ,BANKING SECTOR ,APPLICATION PROCESS ,CAPITAL EXPENDITURES ,CAPABILITIES ,BUDGET DEFICIT ,TELECOMMUNICATIONS INFRASTRUCTURE ,ECONOMIC DEVELOPMENT ,CENTRAL BANK ,RETURN ,TAX RATE ,LABOR FORCE PARTICIPATION ,ECONOMIC ACTIVITY ,FUEL ,COLLECTION PROCESS ,ELECTRICITY ,LOCAL DEBT ,CREDIBILITY ,BINDING CONSTRAINT ,MANUFACTURING ,ROUTE ,QUALITY OF SERVICE ,ROADS ,PORTFOLIOS ,BONDED WAREHOUSES ,RESULT ,TRAVEL TIME ,GROWTH POTENTIAL ,INCOME TAX ,NEIGHBORHOODS ,PUBLIC ADMINISTRATION ,TELECOMMUNICATIONS SYSTEM ,AIR ,INTERNATIONAL DEVELOPMENT ,PROPERTY TAX ,ADVANCED TECHNOLOGIES ,DRIVING ,SMART PHONES ,VILLAGES ,SMALL ENTERPRISES ,SOURCE OF INCOME ,NETWORKS ,WEB ,LOCAL GOVERNMENTS ,EXCHANGE RATE ,PAYMENT OF WAGES ,SAFETY ,LICENSE ,TERM CREDIT ,CELL PHONES ,INSURANCE ,RETAIL TRADE ,TELECOMMUNICATIONS ,HOUSEHOLDS ,PRIVATE SECTOR ,RECURRENT DEFICIT ,ECONOMIC DEVELOPMENTS ,ACCESS TO RESOURCES ,BANKS ,LAND ADMINISTRATION ,TREASURY ,FISCAL REFORM ,TRANSMISSION ,WAREHOUSES ,BORROWING ,DISPARITIES IN ACCESS ,PERSONAL BANKING ,LAND REGISTRATION ,LOAN ,CREDIT FACILITIES ,JOINT VENTURES ,BUYER ,NONPERFORMING LOANS ,MONETARY AUTHORITY ,MONETARY FUND ,MATERIAL ,PRIVATE SECTOR DEVELOPMENT ,TRANSFER PAYMENTS ,REAL ESTATE ,AIR TRAVEL ,BUSINESS OPPORTUNITIES ,HOUSING ,AGRICULTURAL PRODUCTS ,LOAN DELINQUENCY ,RESULTS ,TELECOM ,RECEIPTS ,ARCHAEOLOGICAL SITES ,TRANSFER PAYMENT ,JOB CREATION ,LOAN-TO-DEPOSIT RATIO ,NATURAL RESOURCES ,BUSINESSES ,ECONOMIES OF SCALE ,TRANSPORT ,FINANCIAL SUPPORT ,LAWS ,TRANSPORTATION ,PENSION SYSTEM ,SAVINGS ,WIRELESS COMMUNICATIONS ,CASH TRANSFER ,TELECOMMUNICATIONS COMPANIES ,LAND DEVELOPMENT ,TAX ADMINISTRATION ,CONSUMER GOODS ,FORMAL BANKING ,PERSONAL COMMUNICATION ,EXCISE TAX ,EXPENDITURE ,INFRASTRUCTURE PROJECTS - Abstract
Economic growth in West Bank and Gaza (WB&G) slowed in the first quarter (Q1) of 2012. The real growth rate is estimated to have reached 5.6 percent, more than three percentage points lower than the Q1 2011 growth figure and almost one percent lower than the growth forecast contained in the Palestinian Authority's (PA's) budget. This decline is attributed to a major slowdown in Gaza, where real growth decreased from 21.3 percent to 6 percent on a year-on-year basis. The slowdown in Gaza during Q1 of 2012 was mainly attributed to a major decline in the agriculture and fishing sector, which offset much of the growth witnessed in other sectors. This sector shrank by 43 percent in Q1 2012 due to frequent power outages resulting from the lack of fuel in Gaza. Nevertheless, other sectors in Gaza expanded and the highest growth levels were witnessed in the construction, and hotels and restaurants sectors. In the West Bank, growth in Q1 2012 was broadly unchanged from its 2011 level. Most of the growth was from an expansion of services, which contributed around 2.2 percentage points of the 5.4 percent total growth in Q1 2012. The recent slowdown in economic growth is also reflected in higher unemployment levels. Overall unemployment in WB&G was 20.9 percent in the second quarter of 2012 compared to 18.7 percent during the same period in 2011. A serious concern in WB&G is the high level of youth unemployment that is accompanied by low youth participation in the labor force.
- Published
- 2012
50. Mongolia Financial Sector Assessment : Housing Finance
- Author
-
World Bank
- Subjects
RESERVE REQUIREMENTS ,MARKET DISTORTION ,MORTGAGE MARKETS ,SHAREHOLDERS ,INFLATION ,TAX EXEMPTION ,INFORMATION TECHNOLOGY ,INVESTOR CONFIDENCE ,DEPOSIT INSURANCE ,MORTGAGE MARKET ,GLOBAL FINANCIAL STABILITY ,CAPITAL REQUIREMENTS ,SECURITIES MARKET LAW ,DEBT SERVICE ,TAX TREATMENT ,COLLATERAL ,CREDIT GROWTH ,MARKET INTERMEDIARY ,LIABILITY BASE ,MORTGAGE LOAN ,BONDS ,NON-PERFORMING LOANS ,MARKET INSTRUMENTS ,LLC ,TRANSPARENCY ,MORTGAGE ,REGISTRY SYSTEMS ,REPO ,NPL ,OUTSTANDING AMOUNTS ,INSTITUTIONAL INVESTORS ,HOLDING ,INSTITUTIONAL CAPACITY ,DOMESTIC CAPITAL MARKET ,AUCTION ,CORPORATE GOVERNANCE ,CREDIT AVAILABILITY ,PROPERTY RIGHTS ,INDEBTEDNESS ,CADASTRE ,BALANCE SHEET ,MORAL SUASION ,SWAP ,PRIVATE EQUITY ,LIQUIDITY ,INTEREST RATES ,MORTGAGES ,PRIVATE CAPITAL ,CREDIT RISK ,STAMP DUTY ,CAPITAL REQUIREMENT ,LOAN AMOUNTS ,INVESTOR BASE ,CAPITAL ALLOCATION ,LOAN PORTFOLIO ,PROBABILITY OF DEFAULT ,MARKET PRICES ,PRIVATE LENDERS ,DEBT OUTSTANDING ,MARKET INTERMEDIARIES ,PORTFOLIO ,LENDERS ,LENDER ,MARKET PARTICIPANTS ,DEBT ISSUES ,MARKET SIZE ,REAL ESTATE INVESTMENT ,CAPITAL MARKETS ,REPOS ,LOAN PRODUCTS ,REGULATORY FRAMEWORK ,FINANCIAL SYSTEM ,MARKET PARTICIPANT ,LIABILITY ,EXCHANGE RATE ,FINANCIAL INSTITUTIONS ,EQUITY CAPITAL ,FOREIGN CAPITAL ,BOND INSTRUMENTS ,CENTRAL SECURITIES DEPOSITORY ,BOND ,GOVERNMENT SECURITIES ,COMMERCIAL MORTGAGE ,CREDIT GUARANTEES ,LOAN TERM ,DEBT FINANCING ,MICRO LOANS ,MARKET DISTORTIONS ,RISK PROFILE ,BANK CREDIT ,MATURITY ,SECURITIES ,IMMOVABLE PROPERTY ,IMPLICIT SUBSIDIES ,NONPERFORMING LOANS ,MICROFINANCE ,REAL PROPERTY ,CREDIT RATING ,PRUDENTIAL SUPERVISION ,LIEN ,CENTRAL BANKS ,DEVELOPMENT BANK ,ISSUANCE ,SOVEREIGN GUARANTEES ,FOREIGN INVESTMENT ,CAPITALIZATION ,TRADING ,LIQUIDITY RISK ,MORTGAGE INTEREST ,MARKET DATA ,HOUSING FINANCE ,LIQUIDITY RATIOS ,LOCAL CURRENCY ,PAYMENT OF PRINCIPAL ,SOVEREIGN GUARANTEE ,TRANSACTION ,MARKET ACCESS ,CAPITAL FLOWS ,INVESTMENT PURPOSES ,VALUATION ,CREDIT ENHANCEMENTS ,TAX ,BANKING SYSTEM ,GROSS DOMESTIC PRODUCT ,BROKERAGE ,MORTGAGE FINANCE ,SECURITIES MARKET ,CREDIT CARDS ,OUTSTANDING LOAN ,MATURITIES ,OPEN MARKET ,ASSET-LIABILITY MANAGEMENT ,BANK LENDING ,BENEFICIARIES ,INITIAL PUBLIC OFFERING ,INSTRUMENT ,PARTIAL CREDIT ,UNSECURED DEBT ,DOMESTIC CAPITAL ,TRADE DATE ,INVESTMENT FUND ,FINANCIAL CRISIS ,CREDIT INFORMATION BUREAU ,SHAREHOLDER ,BALANCE SHEETS ,SOVEREIGN BONDS ,PLEDGES ,MARKET LIQUIDITY ,CONSUMER PROTECTION ,CAPACITY CONSTRAINTS ,RISK MANAGEMENT ,BANKING CRISIS ,FORECLOSURE ,BORROWER ,INVESTMENT VEHICLES ,REGULATORY AUTHORITIES ,PORTFOLIO OF MORTGAGE ,CAPITAL GAINS ,STOCK EXCHANGE ,LEGISLATIVE FRAMEWORK ,MARKET VALUE ,DEBT INSTRUMENTS ,BANK REGULATIONS ,DEBT ,MORTGAGE-BACKED SECURITIES ,BANKING SECTOR ,PREPAYMENTS ,DEBENTURES ,PROVISION OF CREDIT ,CREDIT RATIONING ,DURATION MATCHING ,BORROWER FINANCING ,CAPITAL ADEQUACY ,IPO ,COMMERCIAL BANK LOANS ,CENTRAL BANK ,RESERVE REQUIREMENT ,GROUP LOAN ,POLICY RESPONSES ,TERM DEPOSITS ,PORTFOLIO PERFORMANCE ,LOAN AMOUNT ,CAPITAL MARKET ,BANKING REGULATION ,CORPORATE DEBT ,PRIVATE BANKS ,CREDIT COOPERATIVE ,ACCOUNTING ,PORTFOLIOS ,COMMERCIAL BANK ,MARKET DEVELOPMENT ,REMITTANCES ,TERM DEPOSIT ,CREDIT INFORMATION ,INTERNATIONAL DEVELOPMENT ,PRICE DISCOVERY ,RESERVE ,PRUDENTIAL REGULATION ,FINANCIAL STABILITY ,INTERNATIONAL FINANCIAL INSTITUTIONS ,RESIDENTIAL MORTGAGE ,MORTGAGE BONDS ,MORTGAGE LOANS ,FINANCIAL INSTITUTION ,MARKET INTEREST RATES ,EXPENDITURES ,CONSUMER CREDIT ,COMMERCIAL BANKS ,DEFAULT COSTS ,RATES OF RETURN ,MONETARY FUND ,CAPITAL FUND ,LOAN CLASSIFICATION ,LEGAL FRAMEWORK ,LOAN GUARANTEE ,SHARE OF INVESTMENT ,CASH FLOWS ,LOAN REPAYMENTS ,EQUITY STAKE ,CAPITAL BASE ,LONG-TERM LIABILITIES ,FOREIGN CURRENCY ,INTEREST RATE ,FUTURE LOAN ,LEVEL PLAYING FIELD ,PORTFOLIO ALLOCATION ,EXPENDITURE - Abstract
As the Mongolian mortgage market grows rapidly, and the Government of Mongolia (GoM) pursues an ambitious social housing agenda, there is an urgent need for a holistic sector approach. The following three key areas require attention from policymakers: first, there is a need to better balance housing supply and demand, which requires the authorities to focus on prudent mortgage lending standards and supervision, as well as on provision of housing infrastructure and zoned land. Second, it will be important to ensure effective implementation of ongoing and planned public housing finance programs, with a focus on preventing mortgage market distortions in pricing, emphasizing robust planning and rigorous transparency and governance. Third, authorities should aim for better balance in the composition of mortgage funding, with a focus on improvement in the legal and regulatory framework for capital markets, as well as Mongolian Mortgage Corporation (MIK) governance, products and operations. The Mongolian mortgage market is exhibiting strong growth, with portfolio outstanding increasing by 190 percent to Mongolian Tughrik (MNT) 656 billion (US$482 million) between 2009 and end-2011. This represents 8 percent of 2010 gross domestic product (GDP) and 12 percent of the 2011 banking loan book. The sector is highly concentrated, with top 4 lenders accounting for 89 percent of the market, as well as spatially in and around Ulaanbaatar. Housing prices have risen sharply in the last two years, particularly in 2011, when the increase for the predominantly mortgaged market segment was over 36 percent. While mortgage lending growth rates are consistent with the overall growth of household credit, real estate prices significantly outpaced Consumer Price Index (CPI) and GDP growth in 2011. Currently non-performing loans (NPL) are very low due to the unseasoned mortgage portfolio; however, high debt-to-income (DTI) ratio levels may exacerbate future loan age-related and cyclical delinquency increases. Due in part to extreme climatic constraints, shortage of zoned and serviced land, and infrastructure bottlenecks, housing supply is severely constrained. Large-scale, publicly-funded, subsidized housing initiatives, such as the '100,000 Apartments' Program, need to be carefully planned, so that they cause minimal distortion to the broader housing finance market.
- Published
- 2012
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