rafmacalaba/datause-encoder-data huggingface dataset:
8 industry.

The original data set consisted of 16,147 observations and 2,521 firms were represented in it. This study is based on a sub-set of the sample consisting of 13,552 observations and 2,149 firms'". Short term and long term borrowing are distinguished in the data with loans of less than one year maturity being classified as short term loans and the rest as long term loans. The data allow us to distinguish between borrowing from DFIs, borrowing from banks and market borrowing", and also include trade dues and current liabilities.

Inferences drawn from this study may not be valid for the entire Indian corporate sector as the sample is drawn from a sub-set of this population and also because the public sector plays a significant role in India and its behaviour is governed by a set of rules different from those driving the private sector. To the extent that the sample is representative of public limited companies (which we believe is the case), the lessons drawn from this study are significant given the large role of public limited companies in the Indian private sector'<sup>2</sup> .

Before proceeding with the panel data analysis, in order to provide a more general and complete picture, it is useful to present summary descriptive statistics for selected variables obtained from aggregate (consolidated) balance sheet data. These statistics are based on the consolidated balance sheet data published in the Reserve Bank of India Bulletin (various issues) which cover both 10 Firms with zero or negative values for total output, fixed assets or the wage bill have been dropped. Firms with no debt at all have also been excluded. Firms without a continuous time series have not been included and regressions are based on firms with a continuous presence of at least four years. " For this purpose we have classified debentures (bonds) held by banks and DFIs as market borrowing.

12 The role of public limited companies in the Indian corporate sector, the representativeness of this sample and the effects of industrial reform have been discussed in detail in Srivastava (1996). Details regarding the data set, including the deflation of variables and creation of the capital series, are also available in that study.
through a bank account, a gap exists between the entitled and received wages.<sup>27</sup> The gap may stem from the practice of paying fees to collect benefits quickly from banks without having to wait in queues for a long time; mid-way through the process, resources are wasted and the potential for fraud and corruption is created. Only 46 percent of the sample households indicate that they have banks within their _Union_ , which likely imposes significant time costs and explains why people are willing to accept measures to bypass the wait.

Compared to the first two issues, the third issue of leakage associated with the quality of public works receives less attention in policy discussions related to workfare’s social accountability. Workfare typically has dual objectives: one is to reduce poverty by providing livelihoods and earnings opportunities to poor individuals with limited labor market opportunities; and the other is to build community assets and infrastructure through public works. While the former is greatly emphasized, little policy attention has been paid to the latter objective. The EGPP budget allocation reflects close to 90 percent of wages for beneficiaries, with the remaining 10 percent allocated for operation costs (materials and tools) and supervisors’ allowances.<sup>28</sup> Similarly, the shares are 80 percent for Ethiopia’s Productive Safety Net Program and 88 percent for Rwanda’s Umurenge Program (See Zimmerman, 2014).

To gauge the quality of the workfare schemes (mostly roads repair and re-construction), a series of questions regarding selected projects were examined (Table 12). While a large majority of EGPP participants agree that the benefits of community projects would be broad-based, participants are not properly equipped with tools and materials necessary for works. For the question whether the project value would last more than a year, respondents were evenly split, suggesting that there are doubts on sustainability. Also, when asked about the scheme being well-maintained, about threequarters of EGPP participants positively responded. The survey responses imply that projects under workfare programs improve the condition of roads, but the improvement may be temporary without proper maintenance.

# Table 12. Quality of Workfare Implementation

> 27 Recall from Figure 1 that there is a non-negligible share of households that receives less than entitled amounts of BDT 8,000 or 16,000.

> 28 Administrative data from the Department of Disaster Management. Other administrative costs (staff costs of the Ministry) are not reflected in the EGPP budget.

31
18 Macro International on behalf of USAID and the Multiple Indicator Cluster Survey (MICS) conducted by UNICEF. Neither survey collects data on household consumption but both have a household wealth or asset index that can be used to proxy a household’s living standards (cf. Filmer and Pritchett 2001). The one-off World Health Survey (WHS) and the Multi-Country Survey Study (MCSS) conducted by WHO in the early 2000s are also useful sources of data on the receipt of health services; the WHS is the broadest of all the aforementioned surveys, and the MCSS the narrowest.

The closest to an equivalent of the DHS and MICS in the area of household expenditure and multipurpose surveys is the Living Standards Measurement Study (LSMS) conducted by the World Bank, although it has been conducted in fewer countries than the DHS and the MICS. The WHS and MCSS also collect data on household consumption and out-of-pocket spending, but, as we explain below, the data are not comparable with household expenditure and multipurpose surveys. More extensive in coverage than the LSMS are the various harmonization initiatives whereby household expenditure and multipurpose surveys have been harmonized ex post. The Luxembourg Income Study (LIS) is the best known and best documented of such initiatives, and the data are accessible to the public albeit through remote access. The World Bank also has a number of such initiatives underway, including a centralized initiative that forms part of the international price comparison program, and several region-specific initiatives.

18
|**Table 1. Predicte**<br>|**d Biodiesel an**<br>|**d Soybean Oi**<br> <br>Taxcre|**l Prices for Altern**<br> <br>dit binding|**ative Crude Oil**<br> <br>Manda|**Prices**<br> <br> <br>te binding|
|---|---|---|---|---|---|
|Theoretical price<br>of crude oil<br>($/barrel)|Predicted price<br>of diesel<br>($/gallon)|Predicted price<br>of biodiesel<br>($/gallon)|Predicted price of<br>soybean oil<br>($/metric tonne)|Predicted price<br>of biodiesel<br>($/gallon)|<br>Predicted price of<br>soybean oil<br>($/metric tonne)|
|40|1.22|2.07|585.8|3.32|943.0|
|45|1.37|2.20|623.9|3.30|939.3|
|50|1.51|2.33|662.1|3.29|935.9|
|55|1.66|2.47|700.2|3.28|932.9|
|60|1.80|2.60|738.3|3.27|930.1|
|65|1.95|2.73|776.5|3.26|927.5|
|70|2.10|2.87|814.6|3.25|925.1|
|75|2.24|3.00|852.8|3.25|922.9|
|80|2.39|3.13|890.9|3.24|920.8|
|85|2.53|3.27|929.0|3.23|918.8|
|90|2.68|3.40|967.2|3.22|917.0|
|95|2.83|3.53|1005.3|3.22|915.2|
|100|2.97|3.67|1043.5|3.21|913.6|
|105|3.12|3.80|1081.6|3.21|912.0|
|110|3.26|3.93|1119.7|3.20|910.6|
|115|3.41|4.07|1157.9|3.20|909.2|
|120<br>Source: calculated|3.55|4.20|1196.0|3.19|907.8|

The very close co-movement of actual and predicted soybean oil prices depicted in Figure 2 empirically supports the theoretical link between biodiesel and soybean oil prices established by equation (6).<sup>19</sup> This link appears to be very strong because prices of biodiesel and soybean oil exhibit almost identical development as do actual and predicted soybean oil prices (not shown).<sup>20</sup> The three visible periods when our model over predicts (April – September 2007, February 2008 – April 2009, and February 2011 – April 2012) correspond to the periods of positive profits earned in biodiesel production, likely due to capacity constraints.

# **5. Conclusions**

This paper has advanced an analytical framework to analyze the economics of biodiesel policies (tax exemptions/tax credits and mandates) and the effects of crude oil price shocks under either of these policies. We show how the jointness in soybean (rapeseed) crushing – i.e., the production of both soybean oil and meal – changes the otherwise direct link between a biofuel and its feedstock (as is, for example, the case for ethanol and corn). We also find that while

> 19 The underlying data come from the “Historical Biodiesel Operating Margins” spreadsheet of the Centre for Agricultural and Rural Development of the Iowa State University. http://www.card.iastate.edu/research/bio/tools/hist_bio_gm.aspx

> 20 Biodiesel prices ran up in 2007-08 because of ‘splash and dash’ (see de Gorter et al. 2011) and then crashed as the European Union invoked anti-dumping and countervailing duties. But the U.S. biodiesel mandate started to be enforced in mid-2010, causing prices to rise sharply again.

12
enterprise activities, so that the death of the father may increase demand for the boy to work in this enterprise. In contrast, because the region is densely populated, farms are not associated with labor shortages in general. The significant negative impact of death of a prime age female household member, on the other hand, is concentrated among boys raised in farm households and in poorer households (columns 2 and 3). This is consistent with the labor of boys substituting for the work of women (excluding mothers) in the household and resulting in delayed marriage.

The preceding results are based on a sample that is limited to those who were non-orphaned at baseline, with mortality shocks being restricted to those taking place between survey rounds. This reduces the sample size, particularly among older children in the age range 4-15, since orphanhood rates sharply increase with age. The motivation was to control for pre-orphan characteristics of the children and the household information available in the baseline survey (13 years earlier). It is predicated on the idea that orphanhood may be a non-random event, in which case traditional cross-sectional analysis will be problematic. We explore the importance of the baseline controls and sample restriction in two ways. First, we can examine results omitting baseline characteristics (Annex Table 1). Second, we can estimate the equation on the entire sample which includes orphans at baseline (Annex Table 2).

The results show that both the significance and the magnitude of the positive effect of paternal orphanhood on the probability of marriage among women are reduced when initial household characteristics are not controlled for (Annex Table 1, column 2). The results using this specification show that paternal orphanhood increases the probability of marriage among women by 11 percentage points. However, this effect is only significant at a 13 percent level of confidence. In contrast, neither the magnitude nor the significance of the negative effect of the death of a prime-age female household member on probability of marriage among men change with the exclusion of controls for initial household characteristics.

Expanding the sample to include those who were already orphaned at the time of the baseline further reduces the significance of the impact of paternal death on probability of marriage among women (Annex Table 2, column 2). It also results in the loss of magnitude and significance in the impact of the death of prime-age female household 10
opportunities in the small firm sector with the attractions that independence and possibly better money it offers.

The upper and lower panels of Figure 7b document a break in the determinants in the size of the formal sector beginning in the early 1990s driven by two important innovations. First, the flows into formal employment from other sectors during the 19951998 recovery did not increase in anywhere near the same magnitudes that they did in the 1986-1990 recovery. Second, formal separations to all sectors, which previously behaved in a procyclical fashion that, as mentioned above, offset the forces driving the sector’s procyclical evolution, now appear to reinforce them. The reduction in flows from All to F, and in particular from S.E. & I, explains the majority of the decline in the size of the formal sector from 1990 on, with the remainder explained by the now secularly increasing separation rate. This finding of the importance of the reduction in formal hiring may partly explain why Paes de Barros and Corsueil (2001), focusing exclusively on separations, found no impact of the Constitution on the informal sector. The task in the next section is to isolate what drove these changes in gross flows, and in particular the fall in hiring rates.

# **VI. Constitutional Change or Trade Reforms? Determination of the Dynamics and Size of the Formal Sector**

As discussed above, the trade and constitutional reforms have received the most attention in explaining the observed increase in informality and, to the degree possible we will attempt to explain the changes in gross labor flows with proxies for these reforms.

_Trade Liberalization_ : We employ two proxies for the liberalization of the trade regime, Muendler’s (2002) import penetration ratio, and Kume et al.’s (2003) real effective trade protection rates, both measured by industrial sector for the period 1987-1998. Data is drawn from Pinheiro and Bacha de Almeida (1994) to complete both series for the period 1983-1986 and from Nassif and Pimentel (2004) to complete the import penetration series up to 2002. Effective protection is preferred to nominal tariffs as before 1988 non15
_9_ _Private sector coverage of thefamily planning market_ TABLE 3 Private sector coverage of family planning vs. health care expenditures

||FAMILY|PLANNXNG|HEALTH|EXPENSES|
|---|---|---|---|---|
||PREVALENCE|NON-GOVT<br>SHARE|PER<br>CAPITA|NON-GOVT<br>SHARE|
|_Latin America/Cari_|_bbean_||||
|Brazil|12|66||50|
|Colombia|55|75|69.60|33|
|Ecuador<br>Peru|36<br>23|58<br>46|46.11<br>62.12|39<br>47|
|_Africa_|||||
|Botswana|32|6|36.65|44|
|Kenya|18|30||50|
|Senegal|6|53|17.73|38|
|Uganda|2|51|9.73|80|
|Zimbabwe|36|47|29.58|40|
|_Asia/North_<br>_Africa_|||||
|Bangladesh|24|29||59|
|Egypt<br>Indonesia|35<br>44|76<br>20|16.53<br>15.03|58<br>62|
|Morocco|21|39|23.53|55|
|Sri Lanka|40|15|10.25|40|
|Thailand|66|18|19.56|70|

Sources: DHS; Akin et al. (1987); Vogel (1988); Griffin (1990); Bruns and McGreevey, (1988).

Cochrane et al. (1990) have suggested that private sector coverage is inversely proportional to governmental willingness to involve itself in family planning, and that the balance between commercial and NGO involvement is a function of level of demand.

In many countries in the early stages of demographic transition when family planning is controversial and demand is low, the nonprofit NGOs usually assume a very large part of the responsibility. Where demand is high, the for-profit private sector will also be active. For the most part, Latin America is an example where demand is high, the governments regard family planning as too controversial to become actively involved, and the private sector and NGOs provide the majority of family planning services. . . Africa has until recent years been characterized by low demand and low government commitment and poor primary health care and thus, family planning has been provided primarily through NGOs. _._ . . Asia has shown a very strong government commitment to reducing population growth to stimulate economic growti and the govemment sector has played a major role in family planning (pp. 4-5).
Urban Institute (1999) _Snapshots of America’s Families: Appendix_ , <u>http://www.urban.org/url.cfm?ID=900875 [accessed April 30, 2020]</u> Veit, Clairice and John Ware (1983) “The structure of psychological distress and wellbeing in general populations”, _Journal of Consulting and Clinical Psychology_ 51, 730–742.

Yamazaki, Shin, Shunichi Fukuhara, and Joseph Green (2005) “Usefulness of five-item and three-item Mental Health Inventories to screen for depressive symptoms in the general Population of Japan”, _Health and Quality of Life Outcomes_ , 3/1/48 12
<!-- Start of picture text --> Among HHs where not all eligible members get vaccinated, who gets priority<br>60 56.07<br>52.67<br>49.52<br>50<br>40<br>oD 34.22<br>© 30.32<br>=gg 30 27.84<br>20<br>10<br>0<br>Unvaccinated At least 1 dose<br>Whether vaccinated with at least 1 dose<br>G9 Male (%) GH Employed(%) Hil Age (yrs)<br>Source: CMIE People of India, September-December2021 for individuals between 18-45 years<br><!-- End of picture text -->
11 Bolivia had fallen by 12 percent while it had risen by 17 percent in Venezuela. The diagnosis and extent of the economi **c** risis Is highlighted by the fact that all 16 countries were characterized by at least three of the five symptoms listed and that three countries suffered from all five.

# B. Cornlemenj= Macroeconomic Policiss

For these Latin American and Caribbean countries, the profligacy of the 1970s inevitably gave way to the austerity of the 1980s, as the debt crisis foreclosed the option for foreign borrowing that had financed much of the public-sector investment and import booms of the 1970s. All the trade reforms under study were either preceded or accompanied by restrictive fiscal and monetary policies, which by reducing real expenditures, facilitated t!o improvements in the balance of payments that enabled the trade reforms to proceed. Tight fiscal policies also ensured that the accompanying real devaluations of the exchange rates (discussed below) were noninflationary.

# C. Exchange Rate Poll

Several elements of exchange rate policy are relevan **t** o the trade reforms. First, there is a need to unify multiple exchange rates so as to help reduce dispersion in the effective rates of protection, which results from multiple rates. Exchange rate unification also reduces the discretionary element of governmental action. The evidence from these countries is nearly uniform. of the eight countries with multiple exchange rates, all but one (Ecuador) unified their rates during the period of the trade reforms. Second, realistic exchange rates need to be adopted by making appropriate devaluations or by floating the currency. Third, both theory and practice sugges **t** hat trade policy reforms, at given real exchange rates, lead to an excess demand for tradeables which needs to be offset by an increase in the price of tradeables relative to nontradeables - that is, by a depreciation of the real exchange rate. The exchange rate policy, therefore, needs to be directed to this end.

The evidence on real exchange rate movements is that the trade reforms were always preceded by, or associated with, significant depreciations of the real exchange rate. The _nominal_ exchange rate was devalued substantially for all the countries (see appendix table A.7). In eight countries (Bolivia, Chile, Colombia, Ecuador, Guatemala, Paraguay, Uruguay, and Venezuela), these devaluations brought about a _condnuous_ depreciation of the real exchange rate for the entire duration of the reforms (see appendix table A.8). For six of these countries (Chile, Colombia, Ecuador, Guatemala, Paraguay, and Venezuela), the devaluations preceded the trade reforms. For the other eight countries
- 33 -

# **Annex III.  ESCO Market in Japan**

The Japanese ESCO market has been growing in recent years; the total amount of the public and private ESCO contracts reached JPY40 billion or about US$350 million in 2007 (Figure 6). About half were implemented in the industrial sector; another half in the residential sector. When other energy efficiency works, such as stand-alone investment without performance contracts and energy audit, are included, the size of the whole energy savings market was estimated at JPY64 billion or US$550 million per year.

This paper focuses on public-sector energy efficiency projects, which accounted for some 20 percent of the total market in Japan. According to the JAESCO survey, over 1,100 energy efficiency projects were carried out in 20001-2005, out of which 189 were implemented in the public sector (Figure 7). As far as ESCO projects―which this paper defines as performance-based energy savings contracts―are concerned, about 15 percent of them were public works.

The reasons for this paper’s focusing the public ESCO market have been twofold. First, the public sector is expected to have an important role in developing the ESCO market and catalyzing private investment in energy efficiency technology, especially in developing countries where the market has not yet developed. Second, there is an issue of data availability. It is generally difficult to obtain the details of private ESCO contracts in industry.

The Japanese public ESCO market has been matured, and thus, there are a considerable amount of transactions, of which the detailed data are available. The survey data for this study covers 171 sub-national government buildings and facilities, for which 100 ESCO projects were implemented during the period: 1998-2012. The data include a wide range of public facilities, from administrative offices to schools and hospitals (Figure 8).
<!-- Start of picture text --> 120<br>100<br>80 37% 38% 34%<br>41%<br>60<br>30%<br>40<br>11%<br>20<br>0<br>Low income Lower middle income Upper middle income<br>Primary GER Secondary GER Bars: Host country averages Markers: Refugee averages<br><!-- End of picture text -->

# _Source: UNHCR (2023c); UIS (n.d.)_

Direct comparisons between refugee and host country GERs are possible for 58 refugee situations worldwide. These comparisons reveal that refugee GERs are higher than host country GERs in 15 countries, with 14 of these countries LICs or MICs. In fact, 33 percent of LICs for which comparable GER data is available (seven out of 21 countries) had lower levels of education access among the host population compared to the refugee population. For some LICs, lower national enrollment rates were due to national fragility/conflict affecting the host population’s access to education, as was the case in Syria, Burundi and the Central African Republic. For other LICs, high GERs among both refugee and host populations mean that differences between the population are slight and that both experience high levels of education access, as was the case in Nepal and The Gambia. While for the majority of LMICs, higher rates of refugee enrollment were often due to teacher and/or classroom shortages in host country education systems, which affected host community education in Angola and Tanzania. For those UMICs and HIC where refugee GERs surpassed national GERs, refugee numbers are typically very low, with school-age refugee populations often in the tens or low hundreds, making comparisons between host and refugee GERs unreliable. As such, while refugee GERs are higher in some countries, these differences are typically small or the result of extreme circumstances, such as state fragility or significant constraints to state education.

Among those countries that provided gender disaggregated data, average enrollment rates were similar for both boys and girls at primary and secondary level. The average GER for refugees at primary level was 63 percent for males and 61 percent for females, compared to GERs of 36 percent and 35 percent for males and females at secondary level, respectively (UNHCR, 2023c). While average GERs appear to indicate gender parity, large gender disparities persist in some countries. Most notably, GERs are far higher for boys than girls in Gabon, Ethiopia and Kenya by 22, 13 and 12 percentage points, respectively. In contrast, GERs are higher among the female refugee population in Senegal, the Philippines, and Iraq, by 17, 8 11