Working Papers
January 1, 0001
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January 1, 0001
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2002
October 1, 2002
Statistical Legislation: Toward a More General Framework
Description: The paper outlines a general framework for statistical legislation. The implications of statistical legislation for the whole statistical system, as well as for centralized versus decentralized statistical systems, are addressed. The general framework is spelled out by identifying "essential" components of statistical legislation. The paper illustrates how these components can be applied to different country situations, and it draws attention to a number of additional topics for discussion and areas for future study in statistical legislation. It also brings together summary descriptions of the statistical legislation of a large number of countries that underlie the derivation of the essential components. It thus provides a reference for countries considering new or revised statistical legislation.
October 1, 2002
A New Financial System for Poverty Reduction and Growth
Description: Our proposal draws on the premise that the availability of stable demand deposits for bank lending, in the process of which inside money is created, does not require any act of intentional saving. The mechanism allowing banks to lend deposits does not function well in low-income countries, owing to a number of structural constraints. We argue that separating inside money creation from lending, and distributing it on a nonlending basis to depositors through specialized payment service institutions, could broaden access to financial resources, fuel non-inflationary, demand-led growth; and foster financial deepening, diversification, and stability. We also argue that the proposed reform is consistent with market incentives and sound economic management.
October 1, 2002
Operational Aspects of Fiscal Policy in Oil-Producing Countries
Description: Oil-producing countries face challenges arising from the fact that oil revenue is exhaustible, volatile, and uncertain, and largely originates from abroad. Reflecting these challenges, the paper proposes some important general principles for the formulation and assessment of fiscal policy in these countries. The main findings can be summarized in some key guidelines: the non-oil balance should feature prominently in the formulation of fiscal policy; it should generally be adjusted gradually; the government should strive to accumulate substantial financial assets over the period of oil production; and, where necessary, strategies should aim at breaking procyclical fiscal responses to volatile oil prices.
October 1, 2002
Cotton Sector Strategies in West and Central Africa
Description: Cotton production in West and Central Africa (WCA) has contributed to growth and poverty reduction. Recently, the objective of poverty alleviation has been adversely impacted by the downward pressures on world prices (exacerbated by subsidies by major cotton producers outside Africa). Several countries in WCA are undergoing reforms in the cotton sector to stimulate greater market competition and raise the share of the international price going to farmers. While these efforts would help to improve rural income irrespective of the world market situation, they would be more powerful in combination with a reduction in other countries’ subsidies in this sector.
October 1, 2002
Poverty Dynamics in Rural India
Description: India’s progress in reducing poverty at the national level masks substantial disparity in the incidence of poverty at the state level. This paper provides a description of the trends in interstate differences in rural poverty for the period 1978–97. Key findings are that poverty generally declined in most states over the last twenty years. However, poverty increased during the early years of the 1990s reform period before decline again in the later years. Relative differences in poverty narrowed during the 1980s but widened somewhat during the next decade. The better success rate of some states in reducing poverty in the 1990s was, in part, due to higher growth and lower inflation.
October 1, 2002
Transition and Regional Inequality in Russia: Reorganization or Procrastination?
Description: This paper analyzes the evolution of interregional income inequality during transition in Russia. The transition matrix approach reveals that between 1991 and 1997 income mobility tended toward a highly uneven long-term distribution with the majority of regions at low income levels and a minority of higher-income regions, in sharp contrast to pretransition times. The ordered logit analysis suggests that the more successful regions prospered on account of their natural resources, while continuing to resist economic reorganization by supporting traditional enterprises. The less-successful regions appeared trapped at low income levels due to uncompetitive industries and lack of resources needed for restructuring.
October 1, 2002
Recentralization in China?
Description: The paper assesses the changing nature of the relations between the provinces and the central government in China during the 1990s. It examines the fiscal reforms initiated in 1994 and subsequent developments. The expenditure needs of the center and the richer provinces are juxtaposed against the need for "redistribution" to the more backward regions.
October 1, 2002
Statistical Treatment of 'Build-Own-Operate-Transfer+L2306 Schemes
Description: The paper argues that assets produced under build-own-operate-transfer (BOOT) schemes-under which public infrastructure assets are legally owned and operated for a defined period by the private corporation that constructs them, before being transferred to the government- should be treated in macroeconomic statistics as owned by the government from the outset. The paper considers three approaches to the treatment of the economic stocks and flows entailed in these arrangements. While the preferred approach conceptually is to impute the creation and extinguishment of financial assets and liabilities, this approach is not consistent with the System of National Accounts 1993, and therefore an operating lease approach to BOOT schemes is recommended.