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Author : Alvaro Escribano
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (931 download)
Download or read book Robust Investment Climate Effects on Alternative Firm-level Productivity Measures written by Alvaro Escribano and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Álvaro Escribano
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (115 download)
Download or read book Investment Climate Effects on Alternative Firm-level Productivity Measures written by Álvaro Escribano and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Wilfried A. Kouamé
Publisher : International Monetary Fund
ISBN 13 : 1484347005
Total Pages : 42 pages
Book Rating : 4.4/5 (843 download)
Download or read book Structural Reforms and Firms’ Productivity: Evidence from Developing Countries written by Wilfried A. Kouamé and published by International Monetary Fund. This book was released on 2018-03-19 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the effects of structural reforms on firm-level productivity for 37 developing countries from 2006 to 2014 period. It takes advantage of the IMF Monitoring of Fund Arrangements dataset for reform indexes and the World Bank Enterprise Surveys for firm-level productivity. The paper highlights the following results. Structural reforms such as financial, fiscal, real sector, and trade reforms, significantly improve firm-level productivity. Interestingly, real sector reforms have the most sizeable effects on firm-level productivity. The relationship between structural reforms and firm-level productivity is nonlinear and shaped by some firms’ characteristics such as the financial access, the distortionary environment, and the size of firms. The pace of structural reforms matters since being a “strong reformer” is associated with a clear productivity dividend for firms. Finally, except for financial and trade reforms, all structural reforms under consideration are bilaterally complementary in improving firm-level productivity. These findings are robust to several sensitivity checks.
Author : Alvaro Escribano
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 107 pages
Book Rating : 4./5 ( download)
Download or read book Assessing the Impact of the Investment Climate on Productivity Using Firm-level Data written by Alvaro Escribano and published by World Bank Publications. This book was released on 2005 with total page 107 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developing countries are increasingly concerned about improving country competitiveness and productivity as they face the increasing pressures of globalization and attempt to improve economic growth and reduce poverty. Among such countries, investment climate assessments (ICA) have become a standard instrument for identifying key obstacles to country competitiveness and imputing their impact on productivity, in order to prioritize policy reforms for enhancing competitiveness. Given the survey objectives and the nature and limitations of the data collected, the authors discuss the advantages and disadvantages of using different productivity measures based on data at the firm level. Their main objective is to develop a methodology to appropriately estimate, in a robust manner, the productivity impact of the investment climate variables. To illustrate the use of this methodology, the authors apply it to the data collected for ICAs in three countries-Guatemala, Honduras, and Nicaragua. Observations in logarithms (logs) of the variables, and not in rates of growth, are pooled from all three countries. The econometric analysis is done with variables in logs to reduce the impact of measurement errors and allow inclusion of as many observations as possible since the "panel" data set is very unbalanced. The authors address the endogeneity of the production function inputs and of the investment climate variables by using a variant of the control function approach based on individual firm information, and by aggregating investment climate variables by industry and region. The authors show that it is possible to get robust results for 10 different productivity measures, if one follows a consistent econometric methodology of specification and estimation. For policy analysis, they recommend using those results of investment climate variables on productivity that are robust for most of the productivity measures. The also analyze efficiency aspects of firms in each country. Finally, they decompose the results to obtain country-specific impacts and establish corresponding priorities for policy reform. The actual estimates for the three countries show the level of significance of the impact of investment climate variables on productivity. Variables in several categories, red tape and infrastructure in particular, appear to account for over 30 percent of productivity. The policy implications are clear: investment climate matters enormously and the relative impact of the various investment climate variables indicates where reform efforts should be directed. Given the robustness of the results, the authors argue that the econometric methodology of productivity analysis developed here ought to be used as a benchmark to assess productivity effects for other ICAs or surveys with firm-level data of similar characteristics.
Author : Tidiane Kinda
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (931 download)
Download or read book Firms??? Productive Performance and the Investment Climate in Developing Economies written by Tidiane Kinda and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on the World Bank Investment Climate Assessment surveys, this paper investigates the relationship between firm-level technical efficiency and the investment climate for 22 developing economies and eight manufacturing industries. The authors first propose three measures of firms' productive performance: labor productivity, total factor productivity, and technical efficiency. They show that, on average, enterprises in the Middle East and North Africa have performed poorly compared with other countries in the sample. The exception is Morocco, whose various measures of firm-level productivity rank close to the ones of the most productive economies. The analysis also reveals that the competitiveness of countries in the region has been handicapped by high unit labor cost, compared with main competitors like China and India. The empirical results show then? that the investment climate matters for firms' productive performance. This is true (depending on the industry) for the quality of various infrastructure, the experience and education level of the labor force, the cost of and access to financing, as well as different dimensions of the government-business relation. The analysis reveals that some industries, more exposed to international competition, are more sensitive to investment climate deficiencies. For some industries, this is also true for small and medium domestic enterprises that do not have the possibility to influence their investment climate or choose their location. These findings bear clear policy implications by showing that increasing firms' size and improving the investment climate (in particular of small and medium firms and industries more exposed to international competition) could constitute a powerful means of industrial development and competitiveness, in the Middle East and North Africa region in particular.
Author : Tidiane Kinda
Publisher :
ISBN 13 :
Total Pages : 51 pages
Book Rating : 4.:/5 (429 download)
Download or read book Firms' Productive Performance and the Investment Climate in Developing Economies written by Tidiane Kinda and published by . This book was released on 2009 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Abraham Assefa
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Does Investment Climate Affect Domestic and Foreign Owned Firms Differently? written by Abraham Assefa and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investment climate is one of the factors associated with explaining differences in productivity among firms. This study examines the relationship between firm productivity and a subgroup of investment climate variables, namely access to finance, regulatory environment, and infrastructure by focusing on foreign or domestic ownership of firms. To this end, it uses cross-sectional firm-level data for countries in Central and Eastern Europe as well as the Middle East and North Africa. By examining labor productivity and TFP measures, the study highlights how the relationship between investment climate and productivity can be heterogeneous based on ownership. The results suggest that domestically owned firms incur total factor productivity loss resulting from regulatory burden and lack of finance, whereas foreign owned firms experience loss only in labor productivity due to regulatory burden. Additionally, it explores the channels that might better explain this heterogeneity.
Author : Timothy Dunne
Publisher : University of Chicago Press
ISBN 13 : 0226172570
Total Pages : 623 pages
Book Rating : 4.2/5 (261 download)
Download or read book Producer Dynamics written by Timothy Dunne and published by University of Chicago Press. This book was released on 2009-05-15 with total page 623 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Census Bureau has recently begun releasing official statistics that measure the movements of firms in and out of business and workers in and out of jobs. The economic analyses in Producer Dynamics exploit this newly available data on establishments, firms, and workers, to address issues in industrial organization, labor, growth, macroeconomics, and international trade. This innovative volume brings together a group of renowned economists to probe topics such as firm dynamics across countries; patterns of employment dynamics; firm dynamics in nonmanufacturing industries such as retail, health services, and agriculture; employer-employee turnover from matched worker/firm data sets; and turnover in international markets. Producer Dynamics will serve as an invaluable reference to economists and policy makers seeking to understand the links between firms and workers, and the sources of economic dynamics, in the age of globalization.
Author : Inter-American Development Bank
Publisher : Springer
ISBN 13 : 1349581518
Total Pages : 366 pages
Book Rating : 4.3/5 (495 download)
Download or read book Firm Innovation and Productivity in Latin America and the Caribbean written by Inter-American Development Bank and published by Springer. This book was released on 2016-07-01 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume uses the study of firm dynamics to investigate the factors preventing faster productivity growth in Latin America and the Caribbean, pushing past the limits of traditional macroeconomic analyses. Each chapter is dedicated to an examination of a different factor affecting firm productivity - innovation, ICT usage, on-the-job-training, firm age, access to credit, and international linkages - highlighting the differences in firm characteristics, behaviors, and strategies. By showcasing this remarkable heterogeneity, this collection challenges regional policymakers to look beyond one-size-fits-all solutions and create balanced policy mixes tailored to distinct firm needs. This book is open access under a CC BY-NC-ND 3.0 IGO license.
Author : World Bank World Bank
Publisher : World Bank Publications
ISBN 13 : 1464806292
Total Pages : 253 pages
Book Rating : 4.4/5 (648 download)
Download or read book Investment Climate Reforms written by World Bank World Bank and published by World Bank Publications. This book was released on 2015-11-02 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private firms are at the forefront of the development process, providing more than 90 percent of jobs, supplying goods and services, and representing a significant source of tax revenues. Their ability to grow, create jobs, and reduce poverty depends critically on a well-functioning investment climate--defined as the policy, legal, and institutional arrangements underpinning the functioning of markets and the level of transaction costs and risks associated with starting, operating, and closing a business. The World Bank Group has provided extensive support to investment climate reforms. This evaluation by the Independent Evaluation Group (IEG) assesses the relevance, effectiveness, and social value of World Bank Group support to investment climate reforms as it relates to concerns for inclusion and shared prosperity. IEG finds that the World Bank Group has supported a comprehensive menu of investment climate reforms and has improved investment climate in countries, as measured by number of laws enacted, streamlining of processes and time, or simple cost savings for private firms. However, the impact on investment, jobs, business formation, and growth is not straightforward. Regulatory reforms need to be designed and implemented with both economic and social costs and benefits in mind; IEG found that, in practice, World Bank Group support focuses predominantly on reducing costs to businesses. In supporting investment climate reforms, the World Bank and the International Finance Corporation use two distinct but complementary business models. Despite the fact that investment climate is the most integrated business unit in the World Bank Group, coordination is mostly informal, relying mainly on personal contacts. IEG recommends that the World Bank Group expand its range of diagnostic tools and integrate them in the areas of the business environment not yet covered by existing tools; develop an approach to identify the social effects of regulatory reforms on all groups expected to be affected by them beyond the business community; and exploit synergies by ensuring that World Bank and IFC staff improve their understanding of each other's work and business models.
Author : Sandra Ospina
Publisher : International Monetary Fund
ISBN 13 : 1451982119
Total Pages : 36 pages
Book Rating : 4.4/5 (519 download)
Download or read book Competition and Firm Productivity written by Sandra Ospina and published by International Monetary Fund. This book was released on 2010-03-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents empirical evidence on the impact of competition on firm productivity. Using firm-level observations from the World Bank Enterprise Survey database, we find a positive and robust causal relationship between our proxies for competition and our measures of productivity. We also find that countries that implemented product-market reforms had a more pronounced increase in competition, and correspondingly, in productivity: the contribution to productivity growth due to competition spurred by product-market reforms is around 12-15 percent.
Author : Alvaro Escribano
Publisher : Cambridge University Press
ISBN 13 : 1108905749
Total Pages : 116 pages
Book Rating : 4.1/5 (89 download)
Download or read book Productivity in Emerging Countries written by Alvaro Escribano and published by Cambridge University Press. This book was released on 2021-06-17 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: Emerging countries are increasingly concerned with improving their competitiveness and productivity. This Element develops a robust econometric methodology, based on controlling for usual unobservable effects at the firm or plant level. By robust empirical results in total factor productivity (TFP), we mean estimating investment climate (IC) elasticities, or semi-elasticities, with equal signs and similar magnitudes for more than ten different competing TFP measures. The key to achieve similar empirical results for several TFP measures is to avoid having a problem omitted variables, achieved through imputation of large proportions of missing observations in relevant variables (i.e. the capital stock). Furthermore through the use of a new concept of aggregate TFP (tfpIC), that measures the associated IC effects on firm ́s tfp, we are able to make meaningful cross-country firm ́s level productivity comparisons, avoiding the usual problem of comparing 'apples with oranges' that would otherwise occur if we directly compare country's TFP measurements.
Author : Mr.Sebastian Acevedo Mejia
Publisher : International Monetary Fund
ISBN 13 : 1484363027
Total Pages : 40 pages
Book Rating : 4.4/5 (843 download)
Download or read book The Effects of Weather Shocks on Economic Activity: What are the Channels of Impact? written by Mr.Sebastian Acevedo Mejia and published by International Monetary Fund. This book was released on 2018-06-13 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global temperatures have increased at an unprecedented pace in the past 40 years. This paper finds that increases in temperature have uneven macroeconomic effects, with adverse consequences concentrated in countries with hot climates, such as most low-income countries. In these countries, a rise in temperature lowers per capita output, in both the short and medium term, through a wide array of channels: reduced agricultural output, suppressed productivity of workers exposed to heat, slower investment, and poorer health. In an unmitigated climate change scenario, and under very conservative assumptions, model simulations suggest the projected rise in temperature would imply a loss of around 9 percent of output for a representative low-income country by 2100.
Author : Mary Hallward-Driemeier
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4./5 ( download)
Download or read book The Investment Climate and the Firm written by Mary Hallward-Driemeier and published by World Bank Publications. This book was released on 2003 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: The importance of a country's "investment climate" for economic growth has recently received much attention. Hallward-Driemeier, Wallsten, and Xu address the general lack of appropriate data for measuring the investment climate and its effects. The authors use a new survey of 1,500 Chinese enterprises in five cities to more precisely define and measure components of the investment climate, highlight the importance of firm-level data for rigorous analysis of the investment climate, and investigate empirically the effects of this comprehensive set of measures on firm performance in China. Overall, their firm-level analysis reveals that the main determinants of firm performance in China are international integration, entry and exit, labor market issues, technology use, and access to external finance. This paper--a product of Investment Climate, Development Research Group--is part of a larger effort in the group to understand the investment climate using firm-level datasets.
Author : Carol Corrado
Publisher : University of Chicago Press
ISBN 13 : 0226116174
Total Pages : 602 pages
Book Rating : 4.2/5 (261 download)
Download or read book Measuring Capital in the New Economy written by Carol Corrado and published by University of Chicago Press. This book was released on 2009-02-15 with total page 602 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the accelerated technological advances of the past two decades continue to reshape the United States' economy, intangible assets and high-technology investments are taking larger roles. These developments have raised a number of concerns, such as: how do we measure intangible assets? Are we accurately appraising newer, high-technology capital? The answers to these questions have broad implications for the assessment of the economy's growth over the long term, for the pace of technological advancement in the economy, and for estimates of the nation's wealth. In Measuring Capital in the New Economy, Carol Corrado, John Haltiwanger, Daniel Sichel, and a host of distinguished collaborators offer new approaches for measuring capital in an economy that is increasingly dominated by high-technology capital and intangible assets. As the contributors show, high-tech capital and intangible assets affect the economy in ways that are notoriously difficult to appraise. In this detailed and thorough analysis of the problem and its solutions, the contributors study the nature of these relationships and provide guidance as to what factors should be included in calculations of different types of capital for economists, policymakers, and the financial and accounting communities alike.
Author : Bojana Olgić Draženović
Publisher : Springer Nature
ISBN 13 : 3030998509
Total Pages : 194 pages
Book Rating : 4.0/5 (39 download)
Download or read book Real and Financial Sectors in Post-Pandemic Central and Eastern Europe written by Bojana Olgić Draženović and published by Springer Nature. This book was released on 2022-05-11 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers new insights into the real and financial sectors in the post-pandemic European Union, with a specific focus on the countries of Central and Eastern Europe and a special reference to Croatia. The contributors examine the timeliness, justification, and appropriateness of the measures taken in response to the deteriorating economic conditions and the associated outcomes. They further discuss various aspects of economic, financial, and energy policy. While doing so, they focus on two important issues. The first is an analysis and assessment of the financial development and performance of the real sector. The second is an insight into the institutional dimensions of the COVID-19 pandemic, including the discussion of obstacles and opportunities for recovery in the near future. The topics covered in this book include, but are not limited to, unconventional monetary policy, financial cycles, fiscal incentives, institutional development and institutional quality, the banking system, real estate markets, competitiveness, pension systems, financial regulation, energy markets, environmental, social, and governance (ESG) factors, as well as agricultural policy. Therefore, this volume will appeal to researchers, students, and scholars of finance and economics, as well as policy-makers interested in a better understanding of real and financial sectors, economic policy, and post-pandemic economic development in Central and Eastern Europe.
Author : OECD
Publisher : OECD Publishing
ISBN 13 : 9264852395
Total Pages : 94 pages
Book Rating : 4.2/5 (648 download)
Download or read book OECD Sovereign Borrowing Outlook 2021 written by OECD and published by OECD Publishing. This book was released on 2021-05-20 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edition of the OECD Sovereign Borrowing Outlook reviews developments in response to the COVID-19 pandemic for government borrowing needs, funding conditions and funding strategies in the OECD area.
