rafmacalaba/datause-encoder-data huggingface dataset:
pooling, economies of scale and the avoidance of heavy marketing costs. Centralized provision of these services may be combined with decentralized asset management.

Countries that favor a decentralized competitive market structure need to monitor trends toward growing market consolidation closely. They need to ensure that profit margins are not excessive and the benefits of greater competition and innovation are not eroded by increasingly oligopolistic and wasteful marketing practices.

**Marketing and pricing regulation:** Marketing and pricing policy issues vary between fixed and variable annuities. Adopting a centralized electronic quotation system to lower search costs and to improve the pricing and marketing of fixed nominal and real annuities as well as escalating annuities is a high priority. For variable annuities, the creation of a central register is of major importance. Extensive comparative data on profit-sharing policies, levels of operating costs, levels of commission fees and consistency and soundness of investment policies should be compiled.  Data collection needs to be more than mere reporting of past performance.

**Risk management and prudential regulation:** The regulation of risk management needs to focus on the maintenance of adequate levels of technical reserves and risk capital. It should cover asset and liability management, appropriate valuation rules, the conduct of well-designed stress tests and the management of longevity risk.

In principle, 'fair value' accounting and market-based maturity-dependent discount rates should be used. However, to avoid misleading market valuations, the use of book values should be allowed when financial markets are not sufficiently liquid. In such cases, unmatched liabilities of individual institutions should be subject to more onerous technical and capital reserves.

Effective management of the longevity risk in fixed nominal and real annuities as well as escalating annuities requires access to long-duration assets. For the more uncertain tail end of the age distribution, annuity providers should be encouraged to resort to global reinsurance. This will require removal of any asset localization requirements.

**Government guarantees:** The introduction of government guarantee schemes covering all types of retirement products merits serious consideration. The government guarantees should cover benefit payments and could emulate the practice evolving in deposit insurance schemes, including upper limits on the amounts insured and a reasonable amount of coinsurance by pensioners in order to minimize the possible loss of market discipline at the point of purchase. The potential cost of government guarantees should be estimated and such estimates should be used to determine risk-based premiums on annuity providers.

The high volatility of financial markets, which was recently underscored by the 2008 global crisis, highlights the need for a safety net to cover accumulated balances at the point of retirement. The offer of a lifetime government guarantee that retirement savings will earn a specified minimum real rate of return deserves special study. Restrictive 7
In the simple theoretical framework presented in Section 3, we emphasize the imported input channel as the main mechanism through which trade liberalization affects firms’ decision to upgrade foreign technology. For the sake of simplicity we did not take into account the export side of the story and the effects of trade liberalization through variations in trade variable costs affecting final goods that are already well-documented in the theoretical literature (Yeaple, 2005; Bustos, 2011).

Expansion of export opportunities due to foreign demand shocks might also increase the incentives for firms’ to upgrade foreign technology embodied in imported capital goods. Moreover, importing intermediate inputs might lead to higher exports as documented in the empirical literature (Feng et al., 2016; Bas, 2012; Bas and Strauss-Kahn, 2015). Higher export profits would allow to overcome the fixed cost of importing capital goods. If input tariff changes are positively correlated with export performance or with variations in output tariffs set by India’s trading partners, our previous empirical findings might be just picking up the effects of foreign demand shocks.

The industry-year fixed effects included in the estimations of the previous section already address this issue since they capture all unobservable shocks at the industry level varying over time. In this section, we provide additional evidence that foreign demand shocks at the sectoral level captured by export tariffs are not picking up our results. We control for this alternative explanation by including in the previous specifications the average effectively applied tariff at the 3-digit NIC industry level set by the rest of the world to India (export tariff) during the 1989-1997 period from WITS dataset (World Bank). Columns (1) to (3) of Table A5 in the appendix report the results. The effect of export tariff is negative but not significant. The coefficient of interest on the input tariffs remains robust and stable in all specifications when we take into account the role of foreign demand. This finding suggests that the supply side mechanism emphasized in this paper is also an important channel through which trade liberalization affects technology upgrading.

_Firms’ financial health_ 39
_Famiy Planning Success in Twio Cites in Zaire_ _14_ Table 2. Knowledge of Contraceptive Methods and Sources **of** Infonnation Among Women 15-49 Years Old In Matadi

||1981<br>n= 1797|1983<br>n= 1794|1989<br>n= 1615|
|---|---|---|---|
|KNOWLEDGE:||||
|Percent that have heard of:||||
|At least one modern method|86.1|97.0|96.7|
|At least one traditional method|95.1|98.5|94.1|
|SOURCES OF INFORMATION:||||
|Percent of women 15-49 who had heard some-||||
|thing on family planning via:||||
|Radio|49.2|-|80.9|
|Television|5.6|-|50.7|
|Brochure|10.6|-|39.1|
|Poster|4.9|-|46.6|
|Doctor, nurse|-|-|27.4|
|Groupmeeting|-|-|25.6|
|Newspaper, magazine|4.7|-|17.0|

- Not availble

As of 1981, 10 percent of ever-married women had ever used a modern contraceptive method. This proportion increased dramatically to 46 percent in 1983, suggesting the impact of the early PRODEF activities, which included household distribution of contraceptives. As of 1989, 64 percent of ever-married women reported they had experimented with at least one modern method in the past Crable 3).

# **_3._** _Current_ **_Use_** _of a Modern Contraceptive Method_

Contraceptive prevalence refers to the percentage of women married or in union who report current use of a contraceptive method. It is the primary indicator used in evaluating the effectiveness of family planning interventions among the general population for a given location (city, region, country).

Data from the three PRODEF surveys show a dramatic increase in the percentage of married women 15-49 years old using a modern contraceptive method: from 4 percent in 1981 to 17 percent in 1984 (Zones A and B combined) and then to 23 percent in 1989. The most commonly used modern methods in 1989 were the pill (11 percent of married women) and tubal ligation (8 percent). See Table 3.

While 23 percent would be considered low contraceptive prevalence by the standards of some countries in Asia and Latin America, it is one of the highest levels reported for a site in a francophone African country. Moreover, it is the highest reported to date in Zaire, as shown by the summary of data on contraceptive prevalence available to date from different sites in Zaire
their SPS and TBT provisions from Fernandes, Lefebvre and Rocha (2021).<sup>33</sup> We construct an indicator equal to one for each exporting country-destination country-year featuring an active PTA with provisions for harmonizing or mutually recognizing SPS or TBT measures. We estimate the following equation using PPML: where _harm_ is the harmonization indicator.

Table 4 presents the results. Column 1 includes only the country pairs for which a PTA is in force at some point in our sample period. Column 2 includes all country pairs, imputing zeros for the harmonization indicator for country pairs that never enter a PTA. The results are similar across both columns. The interaction term is positive for SPS measures, indicating that these measures are more beneficial to trade when they are harmonized across PTA trading partners. In contrast, the interaction term is negative for TBT, indicating that these measures are _less_ beneficial to trade when they are harmonized. This is consistent with harmonization reducing the costs of complying with SPS measures while also reducing the information benefits of TBT measures.

# **5 Conclusions**

Quality regulation measures—either sanitary and phytosanitary standards (SPS), technical barriers to trade (TBT), or laws including both SPS and TBT measures—are sometimes classified with other non-tariff measures (NTMs) as “non-tariff _barriers_ ” and conjectured to be imposed with a protectionist intent. Yet quality regulations are treated distinctly in international trade law, which recognizes such regulations can create trade by improving the quality of products and signaling information about such quality. Our evidence based on a rich panel of NTM and trade data confirms that quality regulations are indeed tradeenhancing, unlike other NTMs such as import quotas or pre-shipment inspections that deter trade.

Importantly, our evidence shows a clear trade reallocation effect across countries of different types of NTMs. TBT measures increase exports from lower-income countries, creating the potential for poverty reduction. In contrast, SPS measures reduce exports from lowerincome countries, as their firms are less able to conform with production process standards from higher-income countries. SPS measures restrict entry of firms, while TBT measures,

> 33Details on the collection of data on deep PTAs and their provisions across different policy areas, including SPS and TBT, are provided in Mattoo, Ruta and Rocha (2020).

20
10

# 4. SUBESCTOR AND SAMPLE CHARACTERISTICS

This subsection reviews in turn for each of the three subsectors the characteristics and experiences of the surveyed firms. While there are substantial differences from case-to-case, four general features seem evident: i First, it is not the case that successful SMEs are to be found only among non-pribumi entrepreneurs. While the garment industry indeed appears to be dominated by non-pribumi firms (although our sample includes a smattering of pribumis), the field survey uncovered a substantial minority of pribumis among rattan exporters,-and revealed that carved furniture exports from Jepara are eominated by pribumi firms.-

* Second, in both the garment and rattan cases, SME entrepreneurs tended to be highly educated, with more than 70% having had at least some university education. Correspondingly, there were virtually no instances in either sector of firms that had begun as microentrepreneurs or small subcontractors graduating to become fully fledged direct exporters. For. reasons outlined further below, the Jepara case provides a partial exception to these patterns.

Third (again with the partial exception of Jepara), the surveys uncovered a sharp bifurcation between firms that produced for the domestic market, and those that focused on exports. Most of the firms surveyed exported virtually all of their output, and very few of them cut their teeth in the domestic market before moving on to exports.

* Fourth, in all three subsectors, growth among the firms surveyed was rapid. While to some degree the uniformly strong performance may be an artifact-of sample bias, the results demonstrate clearly that the benefits of outward-orientation are not monopolized by the largest firms. On the contrary, all three sectors showed evidence of a nascent and dynamic class of new SME entrepreneurs.

# Indonesia's SME Exnorters of Rattan Furniture

Indonesia has long produced a wide range of rattan produc._s for domestic use. However, these have been goods of low quality, used by low income consumers, and supplied by small-scale enterprises, using quite simple tools and lower quality raw materials. Rattan furniture was not widely used in the
<!-- Start of picture text --> 8<br>6<br>~<br>5<br>oO 4<br>5<br>8<br>°<br>2<br>0<br>Co] cprExport ExT and Import[7 GBF INT [7] SSBFEXTOnly Export[EG or ImportSSBF INT<br><!-- End of picture text --> <!-- Start of picture text --> Export and Import Only Export or Import<br>40<br>30<br>=<br>=<br>3<br>2<br>a 2<br>molxs}mo]oy2<br>a<br>10<br>0 Small Medium Large OoSmall Mediuma5.Large<br><!-- End of picture text --> <!-- Start of picture text --> Business Admin.<br>Quality control Production Planning<br>Payment Zi) Sourcing<br>Sales Marketing<br>——— Non-trader ———_ Export and Import —_———_ Only export or import<br><!-- End of picture text --> <!-- Start of picture text --> Business Admin.<br>Quality control Production Planning<br>Payment Sourcing<br>3<br>5<br>Sales Marketing<br>——— Non-trader ———_ Export and Import —_———_ Only export or import<br><!-- End of picture text -->
only if workers who must postpone retirement would not have become working pensioners under the previous regime. In Latvia and Kazakhstan the results also depend on how well the fully funded'pillar functions.

# _Sensitivity Analysis_

4.13 _Lower rate of return on funding._ The results presented in the above sections assume that in Latvia, as well as in Kazakhstan, workers saving invested in the financial market show a rate of return **3** percent higher than wage growth. Actually, the rate could be higher or lower. Variations in the return on the financial market affect men more than women (Table **6)** because men accumulate over longer periods. The fall in benefits in both countries is limited **by** the minimum wage. On average, men's benefits fall relatively more than women's in a downturn because women's expected benefit starts out lower, and therefore the fall is broken **by** the minimum earlier. Pensioners in Kazakhstan are more vulnerable to a downturn, because the total old-age income is financed through the fully funded pillar.

|**Tabl**<br>(inp|**e6.Effects**<br>**Obs**<br>ercentofre|**ofVaria**<br>**ervedLa**<br>placement|**tionsinFina**<br>**borMarket**<br> ratesobtaine|**ncialRate o**<br>**Outcomes**<br>dinbaseline|**fReturn***<br>scenario)||
|---|---|---|---|---|---|---|
|Country|R|=0|R|=3|R=|6|
||Women|Men|Women|Men|Women|Men|
|Kazakhstan|**80**|43|**100**|**100**|**229**|248|
|Latvia|**75**|**70**|**100**|**100**|**156**|**177**|

*Expressed as the differential between the return of the financial market and wage growth. _Source:_ Authors' calculations.

4.14 _Lower income._ **All** four countries under study have introduced new provisions regarding old-age minimum benefits. Table **7** summarizes their main characteristics. The minimum benefit in Kazakhstan plays two roles. As in the other countries, it serves to push up the level of benefit that low-income earners would earn **if** benefits were only earning related, but it also provides a guaranteed floor to all workers in case the financial market provides low returns. Indeed, without a minimum benefit, average women in Kazakhstan 24
<!-- Start of picture text --> a) Share of respondents willing to get vaccinated<br>.35<br>.3<br>.25<br>.2<br>.15<br>Control Health experts treatment Social norms treatment Relative safety treatment<br>b) Share of respondents unwilling to get vaccinated<br>.35<br>.3<br>.25<br>.2<br>.15<br>Control Health experts treatment Social norms treatment Relative safety treatment<br>Share of respondents willing to get vaccinated<br>Share of respondents not willing to get vaccinated<br><!-- End of picture text --> Note: This chart is based on answers to question 34 in Appendix B.

A similar effect from the relative safety treatment holds in terms of respondents’ reduction in being certain they will not be vaccinated (see Figure 10b). Almost 30 percent (28.9%) of respondents in the control group stated they were unwilling to get vaccinated whereas this figure was less than 20 percent (17.0%) in the relative safety treatment group (26.4% and 23.8% in the expert advice and social norms treatment groups respectively). There was some indication that the social norms group reduced people’s unwillingness to get the vaccine however this was only weakly statistically significant. There was no significant effect from the expert advice treatment. Similar results hold after controlling for the background characteristics of respondents (see Table A7 in Appendix A).

# <u>5.3.2 Weighted treatment effects on vaccine hesitancy</u>

The relative safety treatment had statistically significant effects across most of the demographic characteristics of respondents (see Figure A18 in Appendix A). The effect of this treatment was strongest among younger respondents, women and people with less education. There is some evidence the social norms treatment had statistically significant effects on women and respondents in the Southern region.

To provide an estimate of the impact of the treatment on a more broadly representative population, weighted treatment effects were calculated using inverse probability weights (as discussed in Section 22
program may cause a village effect additional to any preexisting (time-invariant) village effects. Assuming that a household’s male or female program participation is measured by whether an individual participates in a program instead of the amount of borrowing and the average village-level male or female participation rate is the village program participation intensity, we write the following regression: where Ω _j_ ’s represent the external effects of a program in a village and have a value of zero if no program is located in the village. The coefficients, δ _m_ and δ _f_ , capture village-level program effects as well if Ω _j_ = 0 (none of the village-specific heterogeneity is caused by programs). If village externalities do exist (i.e., Ω _j_ ≠ 0), the spillover effects cannot be not separately identified from the time-invariant village effects using a cross-sectional survey data. With panel data, the extent of market saturation or village economies/diseconomies is captured by the village-level program participation rates. If the terms Ω _j_ are measured by the average village-level program participation rate then the spillover effect is measured by the change in behavior of non-participants due to change in village level program participation, captured by α .

As indicated, market saturation or spillover may be good or bad depending on whether the coefficients of these village participation variables are positive or negative. To account for the spillover effects, we re-write the outcome equation similar to (15) as: where _V_ is the village average of male or female loans, and a measure of spillover effects.

Table 9a presents the results of the estimates based on equation (16). Average village-level male borrowing does not seem to have an independent effect on household welfare above and beyond household-level male borrowing. This means that there is no externality or spillover effect 22
**Table 6. Export Revenue as a Percent of Total Revenue, All Firms, by Region and Sector**

|**Industry**|**Northwes**<br>**t**|**Cent**<br>**ral**|**Sout**<br>**h**|**Volg**<br>**a**|**Ural**|**Siber**<br>**ia**|**Far**<br>**East**|**North**<br>**Caucasu**<br>**s**|
|---|---|---|---|---|---|---|---|---|
|Water supply;waste mgmt.|6.8|0.5||0.9|||||
|Construction|2.7|1.3|2.0|2.2|1.1|0.8||2.7|
|Distribution|0.1|1.3|0.0|0.4|0.7|0.9|1.0||
|Transportation|1.6|7.6|6.2|1.5|7.2|12.9|12.2|0.5|
|Tourism||0.1|||0.6||||
|Info and telecom||0.0|||2.5||||
|Financial and insurance||0.0|0.2|||0.5|||
|Real estate|0.1|0.2|0.1||1.0||||
|Professional|2.0|1.4|13.3|5.7|10.1|0.7|||
|Admin support|2.7|0.1|||0.0||0.4||
|Public administration||23.1|||||||
|Education|||||||||
|Health||0.3|||||||
|Arts and recreation|||||||||
|Other service activities||||1.6|||||

Source: RUSLANA.
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