rafmacalaba/datause-encoder-data huggingface dataset:
_procedures)?_ The answer “Yes” is coded with one and “No” with zero (panel B). 8) _Can the deposit insurance agency/fund take legal action against bank directors or other bank officials?_ The answer “Yes” is coded with one and “No” with zero (panel C). 9) _Has the deposit insurance agency/fund ever taken legal action against bank directors or other bank officials?_ The answer “Yes” is coded with one and “No” with zero (panel C). 10) _Are non-residents treated differently than residents with respect to deposit insurance scheme coverage?_ The answer “Yes” is coded with one and “No” with zero (panel C).

# **3.5 Time series: Coverage limits, co-insurance, and coverage ratios**

The database includes time series data for co-insurance and coverage limits. The limits and the co-insurance requirements since the year of EDIS adoption and the revisions to them over time are presented in Table A.1.7. The amount of coverage is seen to vary across different schemes. They are also adjusted through time to account for inflation as well as changing economic conditions. Table A.1.7 provides the coverage limits, the currency they are measured in and the co-insurance percentages.

Finally, the database provides ratios of coverage amounts to GDP per capita and deposits per capita, where all are expressed in local currency units. The sample years span 1960 to 2003 in the main database online.<sup>11</sup> The underlying data, that is GDP per capita, total deposits, population, and coverage amounts, are also reported there. In Table A.1.8 we present the two coverage ratios for 1999-2003. Figure 6 provides the ratio of deposit coverage to GDP per capita in 2002 for selected countries. We see that the ratio is quite high for some developing countries. For example, the coverage amount is about ten times larger than the per capita income for the Former Yugoslav Republic of Macedonia. This ratio is even starker for Nicaragua, where it is about twenty-seven in 2002 which appears in Table A.1.8.<sup>12</sup> The generosity of schemes if not matched with institutional improvement can result in more fragility of financial systems.

> 11 The third worksheet of the database includes the coverage ratios. The online database is located at the Finance Research website under datasets, World Bank.

> 12Nicaragua is not included in Figure 2 due to space limitations.

11
**Table 2. Weighted sample mean values of variables in the logistic regression model**

|**Variable**|**Obs**|**Mean**|**Std. Dev.**|**Min**|**Max**|
|---|---|---|---|---|---|
|Early childhood development index|7,502|0.65|0.48|0|1|
|Literacy-numeracy|7,979|0.21|0.40|0|1|
|Learning|7,968|0.89|0.32|0|1|
|Physical development|7,906|0.93|0.25|0|1|
|Social development|7,693|0.70|0.46|0|1|
|Child ever breastfed|7,979|0.96|0.18|0|1|
|Child is female (Y=1)|7,979|0.48|0.50|0|1|
|Child's age (months)|7,979|47.50|7.01|35|59|
|Child's age, months (log)|7,979|3.85|0.15|4|4|
|Child's age squared, months (log)|7,979|7.70|0.30|7|8|
|Mother's education|7,979|0.69|0.66|0|2|
|Urban|7,979|0.19|0.39|0|1|
|Household size|7,979|5.54|2.47|2|25|
|Household size (log)|7,979|1.64|0.37|1|3|
|Wealth quintile|7,979|2.87|1.41|1|5|
|Improved sanitation|7,979|0.48|0.50|0|1|
|Improved water|7,979|0.98|0.14|0|1|
|Water treatment|7,979|0.05|0.22|0|1|
|Arsenic in source water (WHO, >10ppb)|7,979|0.27|0.44|0|1|
|Arsenic in source water (BD, >50ppb)|7,979|0.13|0.33|0|1|
|Arsenic in source water(11-50ppb)|7,979|0.14|0.35|0|1|

**Note: The number of observations for the ECDI and four domains vary due to missing observations in the survey dataset**

17
An Assessment Of Reform Options For The Public Service Pension Fund In Uganda The age distribution of teachers is more skewed to the left hand side than the age distribution for civil servants for both genders telling us that on average teachers are younger than civil servants. The average age of teachers is 35 years (36 men and 33 women) while the average age for civil servants is 39 years (40 men and 38 women).

The age distributions of wages (Figure 3) for men and women in each of the two subschemes are very similar. However, on average civil servants tend to have higher wages than teachers in the same age and gender group. For modeling purposes the distributions were smoothed and assumed to be the same for both genders.

**Figure 3: On average civil servants wages increase with age for both men and women ***

<!-- Start of picture text --> 8,000<br>7,000<br>6,000<br>5,000<br>4,000<br>3,000<br>2,000<br>1,000<br>-<br>17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60<br>Age<br>Male Female<br>UGS (000')<br><!-- End of picture text -->

**Notes:** * Age and wage distribution for civil servants (2003/04). **Source** : MOFPED.

- 31 -
WPS3632

# **Corporate Governance and Bank Performance: A Joint Analysis of the Static, Selection, and Dynamic Effects of Domestic, Foreign, and State Ownership**

Allen N. Berger Board of Governors of the Federal Reserve System Wharton Financial Institutions Center George R.G. Clarke World Bank DECRG Robert Cull World Bank DECRG Leora Klapper World Bank DECRG Gregory F. Udell Indiana University

## **Abstract**

We jointly analyze the static, selection, and dynamic effects of domestic, foreign, and state ownership on bank performance. We argue that it is important to include indicators of all the relevant governance effects in the same model. “Nonrobustness” checks (which purposely exclude some indicators) support this argument. Using data from Argentina in the 1990s, our strongest and most robust results concern state ownership. State-owned banks have poor long-term performance (static effect), those undergoing privatization had particularly poor performance beforehand (selection effect), and these banks dramatically improved following privatization (dynamic effect). However, much of the measured improvement is likely due to placing nonperforming loans into residual entities, leaving “good” privatized banks.

JEL Classification Numbers: G21, G28, G34, F36 Keywords: Bank, Governance, M&A, Foreign Acquisition, Privatization World Bank Policy Research Working Paper 3632, June 2005 _The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the view of the World Bank, its Executive Directors, or the countries they represent. Policy Research Working Papers are available online at http://econ.worldbank.org._ The authors thank the journal referee; the conference discussants, Andrew Powell and Phil Strahan; and other participants at the World Bank Conference on Bank Privatization for helpful suggestions; Jalal Akhavein and Christa Bouwman for special help; and Juan Miguel Crivelli and Maria del Pilar Casal for outstanding research assistance.

Please address correspondence to Allen N. Berger, Mail Stop 153, Federal Reserve Board, 20th and C Streets. NW, Washington, DC 20551, call 202-452-2903, fax 202-452-5295, or email <u>aberger@frb.gov.</u>
27

**Table 7: The Percentage of Parts and Components Products with Comparative Advantage in East Asian Countries**

||Exports -<br> ( % of Pr<br>|Production<br>oductswith<br>|Operations<br>RCA>1)<br>|Imports - A<br> ( % of Pro<br>|ssembly O<br>ductswith<br>|perations<br>RCA>1)<br>|
|---|---|---|---|---|---|---|
|Country|1985|1995|2005|1985|1995|2005|
|Cambodia|..|..|2.7|..|..|6.7|
|China|12.0|20.0|30.7|40.0|44.0|34.7|
|Hong Kong, China|25.3|22.7|33.3|41.3|44.0|36.0|
|Indonesia|0.0|8.0|9.3|58.7|50.7|42.7|
|Japan|40.0|46.7|42.7|6.7|8.0|16.0|
|Korea Rep.|10.7|16.0|26.7|28.0|37.3|21.3|
|Malaysia|8.0|13.3|20.0|52.0|36.0|37.3|
|Philippines|5.3|4.0|17.3|34.7|36.0|25.3|
|Singapore|18.7|20.0|34.7|36.0|41.3|41.3|
|Taiwan, China|34.7|22.7|34.7|40.0|44.0|21.3|
|Thailand|10.7|20.0|24.0|33.3|41.3|29.3|
|Vietnam|..|1.3|12.0|..|4.0|25.3|
|Average ASEAN|8.5|11.1|17.1|42.9|34.9|29.7|
|Average NE Asia|24.5|25.6|33.6|31.2|35.5|25.9|
|Average above all East Asia|16.5|17.7|24.0|37.1|35.2|28.1|
|Average above excluding Japan|13.9|14.8|22.3|40.4|37.9|29.2|
|Memo Items: Comparators|||||||
|Canada|17.3|20.0|24.0|76.0|52.0|53.3|
|United States|61.3|64.0|54.7|37.3|38.7|33.3|
|Germany|70.7|65.3|62.7|45.3|36.0|50.7|
|Mexico|12.0|22.7|29.3|66.7|41.3|38.7|

Notes: Percentages based on the 75 products of parts and components from textiles & clothing and machinery & equipment at SITC 4/5-digit level in Revision 2. Due to the missing data, the 1995 data for Vietnam is replaced by 1997.

Source: Computations based on UN COMTRADE Statistics.

From Table 7, it is clear that East Asian revealed comparative advantage in processed exports of components and parts has been gaining over the years, starting way back from 1985. The percentage of products that the East Asian economies have comparative advantage in assembly has declined over time. The results for Latin America are given in Table 8.
Kishore, A., Alvi, M., & Krupnik, T. J. (2021). Development of balanced nutrient management innovations in South Asia: perspectives from Bangladesh, India, Nepal, and Sri Lanka. _Global Food Security_ , _28_ , 100464.

Keeler, B. L., J. D. Gourevitch, S. Polasky, F. Isbell, C. W. Tessum, J. D. Hill, and J. D. Marshall. 2016. “The Social Costs of Nitrogen.” _Science Advances_ 2 (10): e1600219.

Kurdi, S., Mahmoud, M., Abay, K. A., & Breisinger, C. (2020). _Too much of a good thing? Evidence that fertilizer subsidies lead to overapplication in Egypt_ (Vol. 27). Intl Food Policy Res Inst.

Lu, C., & Tian, H. (2017). Global nitrogen and phosphorus fertilizer use for agriculture production in the past half century: shifted hot spots and nutrient imbalance. _Earth System Science Data_ , _9_ (1), 181-192.

Mason, N. M., Jayne, T. S., & Mofya-Mukuka, R. (2013). Zambia's input subsidy programs. _Agricultural Economics_ , _44_ (6), 613-628.

Mateo-Sagasta, Javier; Zadeh, S. M.; Turral, H.; Burke, J. 2017. Water pollution from agriculture: a global review. Executive summary. Rome, Italy: FAO; Colombo, Sri Lanka: International Water Management Institute (IWMI). CGIAR Research Program on Water, Land and Ecosystems (WLE) Mayer, A.-M. B., M. C. Latham, J. M. Duxbury, N. Hassan, and E. A. Frongillo. 2007. “A Food-Based Approach to Improving Zinc Nutrition through Increasing the Zinc Content of Rice in Bangladesh.” Journal of Hunger & Environmental Nutrition 2(1): 19–39.

McArthur, J. W., & McCord, G. C. (2017). Fertilizing growth: Agricultural inputs and their effects in economic development. _Journal of development economics_ , _127_ , 133-152.

Obenour, Daniel R., Anna M. Michalak, Yuntao Zhou, and Donald Scavia. "Quantifying the impacts of stratification and nutrient loading on hypoxia in the northern Gulf of Mexico." _Environmental science & technology_ 46, no. 10 (2012): 5489-5496.

OECD (2021), _Making Better Policies for Food Systems_ , OECD Publishing, Paris, https://doi.org/10.1787/ddfba4de-en.

Paudel, J., & Crago, C. L. (2021). Environmental externalities from agriculture: evidence from water quality in the united states. _American Journal of Agricultural Economics_ , _103_ (1), 185-210.

_Searchinger, Timothy D.; Malins, Chris; Dumas, Patrice; Baldock, David; Glauber, Joe; Jayne, Thomas; Huang, Jikun; Marenya, Paswell. 2020. Revising Public Agricultural Support to Mitigate Climate Change. Development Knowledge and Learning;. Washington, DC: World Bank. © World Bank. https://openknowledge.worldbank.org/handle/10986/33677 License: CC BY 3.0 IGO._ Schultz, T.W. 1964. _Transforming Traditional Agriculture_ . New Haven, CT: Yale University Press.

Singh, V., Ganguly, S., Dakshinamurthy, V., 2018. Evaluation of India’s Soil Health Card from Users’ Perspectives. CSISA Research Note, vol. 12. International Food Policy Research Institute (IFPRI), Washington, DC.

Smale, M. and V. Thériault, 2018. A Cross-Country Summary of Fertilizer Subsidy Programs in SubSaharan Africa. _Feed the Future Innovation Lab for Food Security Policy Research Paper 169._ East Lansing: Michigan State University.

20
20 conditionality for the disbursement of the grant could be related to the monitoring efforts of the states. The reduction in the grant amount for non-compliance would be equivalent to a fine. Now, it in politically unrealistic to asaume that the fine could wipe out state revenue or even anything close to half these revenue. But the magnitude ot' the costs of some of the projects--think of Guanabara in Rio de Janeiro or Rio Tiete in Sao Paulo-- is so impressive, that the federal grant component could easily reach a third of the tax revenue of a state for any given year. In those cases, fines would be in the range defined by the second and third column of the Table. However, the improvements in pollution levels achieved by the fine are not significantly higher than those achieved from the pollution tax only.

|.<br>Table<br>4:<br>atofh|<br>**e.in**|<br>**te;ede**|**ral li**<br>**_i_**|**_._**the**_Stt:_**||
|---|---|---|---|---|---|
||F|ederal Fine a|s % of origin|al States'|VAT Revenue|
||**Q**|L0.0515.3%|30 7|315%.3%|<br>246.1%|
|Utility Naximizing<br>Inspection level for low<br>pollution aversion|0.0%|100%|<br>100%|100%|<br>100%|
|Social Welfare (% of Case<br>with Fine-0)|100%|163%|223%|592%|<br>746%|
|Net Federal Fine Revenue<br>as % of original VAT<br>revenue|0.0%|6.4%|11.8%|16.9%|<br>-24.5%|
|STATE||||||
|Resulting State Monitoring|44%|48%|51%|79%|<br>100%|
|Net State<br>Revenue<br>as% of<br>original VAT revenue|144%|135%|128%|85%|<br>92%|
|Nominal Pollution Tax<br>requiredto cut<br>pollutlon<br>to 0 w/ perfectSEPA<br>monitoring|2.6cts/lb|2.6ctu/lb|2.6cts/lb|2.6ct5/lb|2.6cts/lb|
|Investment in Abatement (%<br>of total capital)|14t|15%|16%|26%|<br>33%|
|Pollution (% of original)|57%|55%|51%|32%|<br>5%|
|Production (% of original)|95%|94%|93%|84%|<br>75%|
112

**TAE 8.A**

**_SwnopL_ Cram Tmbuat** of **Wodue Age ad** Sim **of Zaided Famiy**

|||AG|E<br>GR|OUP|||
|---|---|---|---|---|---|---|
||1|963||1|986||
|Number of<br>Dependents|Under<br>31|31 to<br>40|Over<br>40|Under<br>31|31 to<br>40|Over<br>40|
|lessthan6|63|22|17|43|15|7|
|6to 9|26|35|22|22|29|17|
|i0 and more|11|43|61|35|56|76|
|Total:|100 %|<br>100|%100 %|100 %|100 %|100 %|
|Age Distnbution:|29 %|<br>38|% 33 %|20 %|39 %|40 %|

Source: 1963 - Pfeffermann (1968), p. 221.

1986 - Worker sample, 1986 stuvey of 17 industria fums.

and hence creating an older industrial work force in Senegal. The older workers, now a larger proportion of the pool of employed, are bearing a larger share of the family support burden.

However, from Table 8.4 it is also clear that within each age group the burden of responsibility has grown since 1963. For example, whereas only 11 percent of those under 31 supported 10 or more people in 1963, in 1986 over one-third (35 percent) of this group were supporting 10 or more people. Similarly, 76 percent of workers over 40 were supporting 10 or more people in 1986, as compared to just 61 percent for this category in 1963.

# 8.2 Rclationship Between Earnings and the Extended Family

One of the findings from Pfeffermann's (1968) analysis of Senegal's labor market was that some employers believed that higher incomes did not necessarily lead to higher consumption patterns for the worker and the nuclear family. Some employers felt that higher incomes either (1) induced more migration of
not always show up on time or comply with workplace rules, leading to high turnover. A softskills training program focused on activating conscientiousness reduced job turnover among construction workers in Senegal (Allemand, 2023). Finally, high discount rates and impatience may mean that even if workers recognize the returns to experience, they may be unwilling to accept jobs with relatively low starting wages and high wage growth trajectories. In a study in Mexico, Abel et al. (2022) find that a temporary wage subsidy can help overcome this behavioral bias and increase formal employment rates as a result.

# _Online Job Platforms_

The number of workers and firms using online jobs platforms has undoubtedly been rising as internet penetration has increased in developing countries and new platforms have been launched. For example, the Nigerian platform Jobberman claims 2.6 million jobseekers and 75,000 employers on its platform (as reported in Ladipo 2022), while the Indian portal Naukri has an estimated database of 82 million job seekers and 5 million recruiters, with an estimate of over 7 million searches by recruiters conducted daily.<sup>7</sup> These online portals can lower the costs of search, enable search across space, and help alleviate information frictions, making it easier for job matches to occur. Apparently, many users believe these platforms are at least somewhat beneficial.

The rise of online job portals raises two questions for public policy. First, should governments be trying to set up additional job portals beyond what the private sector is already doing? It is unclear that governments have a comparative advantage in doing this for most types of jobs. Indeed, governments may be worse at performing ongoing platform maintenance. They may face policy restrictions on the types of jobs they can post: for example, only posting formal jobs that comply with safety and non-discrimination rules in labor markets with a high share of informal jobs. Some attempted government efforts have not performed well. For example, Ghana’s Youth Employment Agency set up an online jobs portal <u>(https://yeajobcentre.gov.gh/)</u> in November 2019. In March 2023, the entire portal advertised only 60 jobs, in a country of over 32 million people. Our view is that the most compelling case for governments to set up portals are for specialized sectors in which the government plays a strong role in hiring—say, for public employment in health and education—or potentially when setting up new bilateral international

> 7 Estimates here are from the business management software company Freshworks at <u>https://www.freshworks.com/hrms/indeed-vs-naukri-choose-the-best-prescreening-tool/</u> [accessed 12 March 2023].

22
Policy Research Working Paper 5810

# **Abstract**

This paper uses household survey data collected in September–October 2009 on a nationally representative sample of 2,000 households in Bangladesh to examine the nature of shocks experienced by households over the preceding 12 months and the type of coping mechanisms that were adopted. The analysis finds that more than half the sample claimed to have faced a shock—economic, health, climatic, or asset related—over the previous year. Surprisingly, the non-poor face a larger share of these shocks compared with the poor. A closer look at this result shows that the non-poor report a significantly larger share of “asset-related” shocks, which is consistent with the fact that the poor have fewer assets to lose. Health-related shocks dominate and households appear to have coped with these shocks through savings and loans, help from friends, and depletion of assets. The results show that households, when faced with covariate shocks due to climatic reasons, are less able to cope. As would be expected, the poor are less able to cope with shocks compared with the non-poor; the poor are more likely to use coping mechanisms that could have negative welfare implications in the longer term, including the depletion of assets, reduction of essential consumption, and use of high-interest loans. Econometric analysis suggests that geographical location, socio-economic status, and access to microfinance all affect the ability to cope with shocks. Policy implications include the importance of developing safety nets that take into account the vulnerability to climate-related shocks and further developing the links between micro-finance and safety net programs.

This paper is a product of the Social Protection Unit, South Asia Region. It is part of a larger effort by the World Bank to provide open access to its research and make a contribution to development policy discussions around the world. Policy Research Working Papers are also posted on the Web at http://econ.worldbank.org. The author may be contacted at isharif@worldbank.org.

_The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent._ Produced by the Research Support Team
to a level lower than at any point during the previous decade, except 1981. After the Real Plan was implemented, the P0 for urban areas fell 8 percentage points in Brazil and 11 percentage points in the North. Pará managed to reduce the P0 by 9 percentage points, which is in line with reduction in the national rate. Since 1996, poverty increased slightly and stabilized at around 35 percent at the end of the 1990s. During 1999-2001 urban poverty fell, slightly and reached 33 percent in 2001.

**Table 4.1:      P0, P1, P2 and Mean Income in Urban Areas – 2001**

||**P0**|**P1**|**P2**|**Mean Per Capita Income**<br>**(Monthly R$)**|
|---|---|---|---|---|
|**Brazil**|18.5|9.4|6.8|341.1|
|São Paulo|8.8|5.2|4.3|454.0|
|**Northeast**|37.0|18.6|12.7|182.9|
|**North**|30.1|14.5|10.0|206.3|
|Rondônia|24.7|11.3|7.7|223.6|
|Acre|28.6|15.0|10.8|283.3|
|Amazonas|32.9|16.6|11.9|207.7|
|Roraima|24.7|12.9|9.5|223.9|
|**Pará**|33.0|15.6|10.6|183.8|
|Amapá|12.2|6.9|5.5|260.0|
|Tocantins|26.4|11.8|7.7|226.6|

_Source_ : Calculations based on PNAD 2001.

In the last decade most of the reduction in poverty in Brazil, including in Pará can be credited to national economic policies **.** Brazil’s macroeconomic stabilization, including the devaluation of the real, was clearly the most important poverty-reducing factor in the 1990s. Increased trade, opening the economy to foreign investment, an increase in the minimum wage, and increased access to social services and assistance have also played important parts.

Only the most recent of the six stabilization plans since 1985, the Real Plan of July 1994, achieved macroeconomic stability and reduced inflation to a record single-digit low.<sup>6</sup> The poor generally suffer most from high inflation, partly because they cannot protect themselves against it because they lack access to the financial and banking systems. So, policies that reduce inflation commonly enhance their incomes. This applies to the poor in Pará and elsewhere. Differences in inflation among the regions of Brazil are minuscule and cannot be the sole determinant of regional differences in poverty, but inflation does affect the overall poverty trend. In May 1995 the minimum wage was raised while monthly inflation was about 2 percent, which may have reduced poverty.

The fall in Pará’s social indicators, such as infant mortality corroborates the improvement in measured urban income poverty **.** The infant mortality rate (IMR) dropped dramatically from 73.6 per 1,000 live births in 1980 to 34.6 per 1,000 live 6 The Real Plan of 1994 (1) introduced an exchange rate anchor with flexibility to move within a band, (2) de-indexed the economy, and (3) implemented tight credit and monetary policies.

18