'This paper analyzes the effects of capital controls and crises on financial integration, using stocks from emerging economies that trade in both domestic and international markets. The cross-market premium (the ratio between the domestic and the international market price of cross-listed stocks) provides a valuable measure of how capital controls and crises affect international financial integration. The paper shows that, contrary to the common perception that capital controls can be easily eva more...
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'This publication is an example of IFC's ongoing commitment to sharing knowledge and good practices, and to partnering with key global players to address challenges and identify opportunities for linkages in developing countries.
Jointly published by IFC, Harvard University's Corporate Social Responsibility Initiative, and the International Business Leaders Forum, the report explores the practice of business linkages between large firms and small and medium enterprises in developing countrie more...
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China has great strategic interests in Africa, and Africa will benefit from a continued strengthening of its cooperation with China, says Peter Bosshard. Such South-South cooperation will promote growth and much-needed investment. However, economic growth should not come at the cost of environmental destruction. China has a self-interest in strengthening the rules on the social and environmental impacts of its overseas projects. African governments can learn from China’s experience by being se more...
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'This paper attempts to be a practical step-by-step guide to prepare and carry out benchmarking and impact analyses of projects. It's purpose is to attempt to present analytical tools solidly grounded in economic theory all while focusing on the practical questions of evaluations. Little space is given to theory, in order to spend more time on the actual steps involved, trying to make this paper as easy-to-use as possible. The paper is divided in two parts: the first part gives a rationale for q more...
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'The aim of this paper is to empirically explore the relationship between the quality of political institutions and the performance of regulation, an issue that has recently occupied much of the policy debate on the effectiveness of infrastructure industry reforms. Taking the view that political accountability is a key factor that links political structures and regulatory processes, the authors investigate, for the case of telecommunications, its impact on the performance of regulation in two ti more...
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'The Worldwide Governance Indicators, reporting estimates of six dimensions of governance for over 200 countries between 1996 and 2005, have become widely used among policymakers and academics. They have also attracted some explicit written criticisms. In this short paper the authors synthesize 11 critiques offered by four recent papers. They then refute them as either conceptually incorrect or empirically unsubstantiated.'
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'This paper introduces four versions of an international bilateral migration stock database for 226 by 226 countries and territories. The first three versions each consist of two matrices, the first containing migrants defined by country of birth, that is, the foreign-born population; the second, by nationality, that is, the foreign population. Wherever possible, the information is collected from the 2000 round of censuses, though older data are included where this information was unavailable. T more...
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