World Bank Country Study
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Public Expenditure Review of Armenia is part of the World Bank Country Study series. These reports are published with the approval of the subject government to communicate the results of the Bank's work on the economic and related conditions of member countries to governments and to the development community. This, the first full-scale World Bank Public Expenditure Review for Armenia, reviews the main fiscal trends in Armenia for the period of 1997-2001 and develops recommendations with respect to further fiscal adjustment, expenditure prioritization, and budget consolidation. The analysis focuses on the following core issues: Sustainability of fiscal adjustment, fiscal transparency, expenditure priorities, and short-term expenditure management given the existing economy-wide institutional constraints. This study covers extra-budgetary funds, in-kind external grants, subsidies provided by the state-owned companies in the energy and utility sectors, and operation of the Social Insurance Fund, as well as regular budgetary spending. It suggests a medium-term action plan to address identified weaknesses. Sector chapters review health, education, and social protection and insurance.
The report also analyzes budget support for core public infrastructure, and Armenia's public investment program.
The report also analyzes budget support for core public infrastructure, and Armenia's public investment program.
Action is urgently needed to develop China's market infrastructure, improve information access and commercial renewable energy capabilities, and implement policies necessary to enable expansion of commercial markets. This report summarizes recommended priority areas for international support to strengthen China's renewable energy development effort.
With progress in industrial restructuring demonstrated by the evolving composition of exports, Hungary seems well poised to take advantage of becoming part of the European single market. However, threats remain. This study examines present trade policies and makes recommendations for improvement. This publication is a Technical Paper sponsored by the Poverty Reduction and Economic Management Network of the World Bank's Europe and Central Asia Division. It is part of a comprehensive series regarding the many important factors that influence European Union (EU) accession in the Central and East European countries (CEEC). The topics in the series cover both the social and economic aspects of accession across a broad range of sectors. The series also provides background information for specific acceding countries. These publications will be of interest to EU member and candidate countries, their ministries, and any one studying the accession issue.
This report evaluates the nation's rapid economic growth and suggests policy priorities and reforms at the subnational level to sustain India's economic performance.
Currently, Turkey's financial services industry is in an early stage of development with credit markets dominated by banking and capital markets dominated by government securities. Longstanding macroeconomic instability and inflation have discouraged investment in financial assets and crowded out funding for the private sector. The resulting lack of depth and breadth has made the financial sector in Turkey vulnerable to shocks resulting in repeated crises and has diminshed its intermediation efficiency. This study analyses the state of development and prospects for future growth of Turkish non-bank financial institutions and capital markets. It identifies the key policy issues that should be addressed in order to develop non-bank financial institutions in Turkey. Some of the themes included in the discussion and policy recommendations are: mobilizing savings; building an institutional investor base comprising insurance companies, private pension funds and mutual funds; developing equity markets, debt markets and deriviative markets; developing leasing, factoring and venture capital companies; and strengthening confidence in financial markets through improved corporate governance.
This report considers a number of important issues including the reform in the national social security system, pension regime for government workers, funded pension plans to supplement the national social security system, and funded plans to guarantee pension benefits or to supplement them. It examines the inter-linkages and balance between them as well as suggesting remedies.
This report offers an overview of the challenges and opportunities in addressing the problem of HIV/AIDS in the Caribbean. It provides a snapshot of the HIV/AIDS epidemic in the region, gives examples of ways in which Caribbean countries and regional bodies such as the Caribbean Community (CARICOM) have responded to the epidemic, and discusses alternative actions for addressing the crisis. This book also highlights a range of strategies for donor coordination and cooperation in the region.
'Early retirement and lax eligibility for disability are bad for the economy because they reduce labor productivity and the supply of experienced workers, and they are bad for the system because they impose a heavy financial burden that makes it nonsustainable.' Costa Rica is at a turning point with respect to its social security system. While half the work force is covered and beneficiaries have fared well in the past, the pay-as-you-go (PAYG) pension system is unsustainable for the future. This publication describes the present pension system, its shortcomings, and defends the need for urgent reform. It also makes recommendations on how to reform the system, what should be changed first, and exactly what areas of the pension system should be modified.
The purpose of this country study is to evaluate Bulgaria's progress in its transition from plan to market and preparing for membership to the European Union. It examines economic developments during the 1990's with a focus on the 1997-1999 period. This study describes the structural and institutional reforms implemented during this period, their impact and the prospects for accession to the European Union.
This report details the findings of an education study covering the period from 1990 to 1997. It examines the potential policy options by evaluating the impact of public and private finance, and policies for resource use, on education and labor market outcomes. This report is one contribution to the larger discussion of poverty reduction in Peru.
Tanzania at the Turn of the Century from Reforms to Sustained Growth and Poverty Reduction
by World Bank
Published 1 April 2001
This report looks at lessons of the past four decades from Tanzania's development experience and assesses the imperatives for higher sustained growth in the future. It contains a synthesis of the main results and key messages resulting from in-depth analyses of Tanzania's development. The memorandum evaluates Tanzania's current development status in relation to the country's ambition, since independence, to rid the nation of poverty, ignorance, and disease.
Tanzania at the Turn of the Century Background Papers and Statistics
by World Bank
Published 1 January 2002
This report details lessons from Tanzania's development experience gained during the past four decades. It evaluates the imperatives for a higher sustained growth and a better livelihood for its citizens in the future. The background papers, presented in this report, review and evaluate Tanzania's actual growth and poverty reduction performance. This report also analyzes the main reasons for Tanzania's performance record and highlights the strategic and institutional imperatives needed for developing sustained growth and poverty reduction in Tanzania. The analysis focuses on the development of the private sector and its increased role in the growth and modernization of the Tanzanian economy.
This study evaluates recent labor market developments in Poland and examines the factors behind the rise in unemployment. It also proposes actions that could increase the rate of job creation in Poland. The study finds that the recent rise in unemployment results primarily from an increase in job destruction and this rise of employment has highlighted important barriers in the transition from old to new jobs.
After the break-up of the Soviet Union, the economic contraction in the Kyrgyz Republic was among the worst experienced in the Commonwealth of Independent States (CIS). Their output declined by fifty percent between the years 1991 and 1995. The fiscal costs to the country were nothing short of disastrous. Just as the Kyrgyz Republic was about to decisively restore growth and macroeconomic stability, a series of natural disasters and a regional crisis caused another fiscal setback. This report details a set of measures which, if implemented, will restore fiscal stability to the country. It focuses on reforming public utilities and the tax system, citing these as in the most need of reform.
'Huge sums have been spent on water and sanitation services in Tanzania, but much of that investment is standing idle in the country, producing little or no water for the intended beneficiaries. A major question is whether any of the investment can be salvaged to reduce the burden of water gathering on the population.' - From 'Tanzania: Social Sector Review' Tanzania's social indicators remain among the poorest in the world. This report describes the trends in the social sectors and analyzes the factors that influence these trends. These trends include the performance of the economy, government social sector spending and policy, household behavior and incomes, and demographic trends. Findings from the surveys and case studies are synthesized to provide a comprehensive picture of the demand for and supply of education, health, water and sanitation, nutrition, and family planning services. The report discusses the situation and trends in the social sector and identifies ways that the government, the private sector, and households can use their respective resources most effectively.
