rafmacalaba/datause-encoder-data huggingface dataset:
Long-run impacts of China's WTO
            accession on farm-nonfarm income inequality and rural poverty
Many fear China's accession to the
            World Trade Organization (WTO) will impoverish its rural
            people by way of greater import competition in its
            agricultural markets. Anderson, Huang, and Ianchovichina
            explore that possibility bearing in mind that, even if
            producer prices of some (land-intensive) farm products fall,
            prices of other (labor-intensive) farm products could rise.
            Also, the removal of restrictions on exports of textiles and
            clothing could boost town and village enterprises, so demand
            for unskilled labor for nonfarm work in rural areas may grow
            even if demand for farm labor in aggregate falls. New
            estimates, from the global economywide numerical simulation
            model known as GTAP, of the likely changes in agricultural
            and other product prices as a result of WTO accession are
            drawn on to examine empirically the factor reward
            implications of China's WTO accession. The results
            suggest farm-nonfarm and Western-Eastern income inequality
            may well rise in China but rural-urban income inequality
            need not. The authors conclude with some policy suggestions
            for alleviating any pockets of farm household poverty that
            may emerge as a result of WTO accession.
The gender impact of pension reform
            : a cross-country analysis
Pension systems may have a different
            impact on gender because women are less likely than men to
            work in formal labor markets and earn lower wages when they
            do. Recent multipillar pension reforms tighten the link
            between payroll contributions and benefits, leading critics
            to argue that they will hurt women. In contrast, supporters
            of these reforms argue that it will help women by the
            removal of distortions that favored men and the better
            targeted redistributions in the new systems. To test these
            conflicting claims and to analyze more generally the gender
            effect of alternative pension systems, the authors examine
            the differential impact of the new and old systems in three
            Latin American countries-Argentina, Chile, and Mexico. Based
            on household survey data, they simulate the wage and
            employment histories of representative men and women, the
            pensions they are likely to generate under the new and old
            rules, and the relative gains or losses of men and women
            because of the reform. The authors find that women do
            accumulate private annuities that are only 30-40 percent
            those of men in the new systems. But this effect is
            mitigated by sharp targeting of the new public pillars
            toward low earners, many of whom are women, and by
            restrictions on payouts from the private pillars,
            particularly joint annuity requirements. As a result of
            these transfers, total lifetime retirement benefits for
            women reach 60-80 percent those of men, and for "full
            career" women they equal or exceed benefits of men.
            Also as a result, women are the biggest gainers from the
            pension reform. For women who receive these transfers,
            female/male ratios of lifetime benefits in the new systems
            exceed those in the old systems in all three countries.
            Private intra-household transfers from husband to wife in
            the form of joint annuities play the largest role.
The new comparative economics
In recent years, comparative economics
            experienced a revival, with a new focus on comparing
            capitalist economies. The theme of the new research is that
            institutions exert a profound influence on economic
            development. The authors argue that, to understand
            capitalist institutions, one needs to understand the basic
            tradeoff between the costs of disorder and those of
            dictatorship. They then apply this logic to study the
            structure of efficient institutions, the consequences of
            colonial transplantation, and the politics of institutional choice.
World market integration through the
            lens of foreign direct investors
The authors analyze the unparalleled
            increase in foreign direct investment to emerging market
            economies in the past 25 years. Using a large cross-country
            time-series data set, the authors evaluate the dependence of
            foreign direct investment on global factors or worldwide
            sources of risk (that is, factors that drive foreign direct
            investment across several countries). They construct a
            globalization measure that equals the share of explained
            variation in direct investment attributable to global
            factors. The authors show that the globalization measure has
            increased steadily for industrial and developing countries.
            For the full sample of countries, the globalization measure
            rose eightfold from 1985 to 1999. Furthermore, in recent
            years developing countries' exposure to global factors
            has approached that of industrial countries, particularly
            for Latin America. Finally, the globalization measure
            correlates strongly with measures of capital market
            liberalization. Overall the authors find strong support for
            the hypothesis of increased market integration which implies
            a greater role for worldwide sources of risk. They discuss
            the implications of the results for public policies
            regarding capital market liberalization and policies
            directed at attracting foreign investment.
The global growth of mutual funds
With few exceptions, mainly in Asia,
            mutual funds grew explosively in most countries around the
            world during the 1990s. Equity funds predominated in
            Anglo-American countries while bond funds predominated in
            most of Continental Europe, and in middle-income countries.
            Capital market development (reflecting investor confidence
            in market integrity, liquidity, and efficiency) and
            financial system orientation were the main determinants of
            mutual fund growth. Restrictions on competing products acted
            as a catalyst for the development of money market and
            (short-term) bond funds.
do more transparent government
            govern better
The author explores the link between
            information flows and governance or institutional quality.
            Economic theory expounds on the importance of information on
            economic outcomes either through its direct effect on prices
            and quantities or through its effect on other factors such
            as institutions and the quality of governance. She shows
            that countries with better information flows also govern
            better. Two kinds of indicators are used to assess better
            information flows. One index is based on the existence of
            freedom of information laws. A second index called the
            "transparency" index measures the frequency with
            which economic data are published in countries around the
            world. Empirical analysis shows that countries which have
            better information flows as measured by both indicators have
            better quality governance.
Regional integration in East Asia :
            challenges and opportunities - Part II : Trade, finance and integration
The authors analyze the patterns of East
            Asia's trade and foreign direct investment (FDI) from a
            global and intraregional perspective, taking into account
            the importance of trade and FDI interlinkages. They propose
            two regionally-focused approaches to promoting trade and FDI
            in East Asia-regional agreements and regional production
            networks. The East Asia crisis strengthened appeals for
            regional cooperation in the financial area. As a result, a
            number of financial arrangements and initiatives have
            emerged since the crisis, the most prominent of these, the
            Chiang Mai Initiative. (The Association of Southeast Asian
            Nations plus China, the Republic of Korea, and Japan decided
            at their meeting in Chiang Mai, Thailand, in May 2000, to
            establish a regional network of swap arrangements.) While
            opening of the capital account is considered desirable in
            the long run, it is associated with considerable risk,
            particularly if macroeconomic policies are not sound and
            financial supervision and regulation is weak. Because of the
            potential volatility associated with floating regimes and
            the desire to avoid another crisis in the region, the
            authors discuss a number of options.
Diversity matters - the economic
            geography of industry location in India
How does economic geography influence
            industrial production and thereby affect industrial location
            decisions and the spatial distribution of development? For
            manufacturing industry, what are the externalities that
            matter, and to what extent? Are these externalities
            spatially localized? The authors answer these questions by
            analyzing the influence of economic geography on the cost
            structure of manufacturing firms by firm size for eight
            industry sectors in India. The economic geography factors
            include market access and local and urban
            externalities-which are concentrations of own-industry
            firms, concentrations of buyer-supplier links, and
            industrial diversity at the district (local) level. The
            authors find that industrial diversity is the only economic
            geography variable that has a significant, consistent, and
            substantial cost-reducing effect for firms, particularly
            small firms. This finding calls into question the
            fundamental assumptions regarding localization economies and
            raises further concerns on the industrial development
            prospects of lagging regions in developing countries.
The Cotonou Agreement and its
            implications for the regional trade agenda in eastern and
            southern Africa
Subregional trade arrangements (RTAs) in
            Eastern and Southern Africa have proliferated in the past 10
            to 15 years. The small size of most of the countries in the
            region, some of which are landlocked, and the security needs
            in the post independence period largely explain the rapid
            expansion. These arrangements are characterized by multiple
            and overlapping memberships, complex structures, and
            eventually, conflicting and confusing commitments. The
            influence of RTAs has been limited to assisting the region
            in increasing trade, attracting foreign direct investment,
            enhancing growth, and achieving convergence among member
            countries. But despite their limitations, RTAs have the
            potential, if properly designed and effectively implemented,
            to be an important instrument in integrating member
            countries into global markets. In 1998 most of the Southern
            African countries, as members of the Africa Caribbean
            Pacific group (ACP), signed the Cotonou Agreement with the
            European Union, which includes the negotiation of economic
            partnership agreements (EPAs) between the EU and the ACP.
            The Cotonou Agreement explicitly leaves to the ACP countries
            to decide the level and procedures of the EPA trade
            negotiations, taking into account the regional integration
            process. This raises the question of how to decide on the
            groupings in the context of conflicting regional trade
            agendas. The author argues that the Cotonou Agreement and
            EPA negotiations could become the external driving force
            that will push the regional organizations to rationalize and
            harmonize their regional trade arrangements, thus
            strengthening the integration process and economies of the
            region, and assisting the Eastern and Southern Africa region
            in becoming a more active partner in the global economy.
Can fiscal rules help reduce
            macroeconomic volatility in the Latin America and Caribbean Region
The debate on fiscal policy in Europe
            centers on how to let automatic stabilizers work while
            achieving fiscal consolidation. There is significant
            agreement on the importance of using fiscal policy as a
            counter-cyclical instrument, as monetary policy can no
            longer play this role. In contrast, most of the discussion
            on fiscal policy in Latin America and the Carribean region
            (LAC) deals just on solvency issues, largely ignoring the
            effects of the economic cycle. This is surprising as LAC
            economies are much more volatile than their European
            counterparts and have been generally applying pro-cyclical
            fiscal policies that exacerbate volatility. Some analysts
            and policymakers appear to think that counter-cyclical
            fiscal policies are a luxury that only industrial countries
            can indulge in or, at least, that LAC countries (with the
            exception of Chile) that have successfully put in place a
            counter-cyclical fiscal policy need to deal first with
            pressing adjustment and solvency issues before they attempt
            to reduce the highly pro-cyclical character of their fiscal
            policies. The author argues that this is a major mistake
            because the costs of pro-cyclical fiscal policies in LAC are
            huge in growth and welfare terms, especially for the poor,
            and because pro-cyclical policies and rules tend to develop
            a deficit bias, thus ending up being nonsustainable and
            noncredible. Perry illustrates both propositions. He then
            examines the causes of the pro-cyclicality of fiscal
            policies in LAC and discusses how well-designed fiscal rules
            may help to deal with the political economy and credibility
            factors behind pro-cyclicality. He also examines conflicts
            between flexibility and credibility in rules, showing how a
            good design can both facilitate the operation of automatic
            stabilizers while at the same time supporting solvency goals
            and enhancing credibility. Perry evaluates the experience
            with different fiscal rules and institutions in LAC to see
            the extent they have helped or can help to achieve the twin
            goals of avoiding deficit and pro-cyclical biases.
Mine closure and its impact on the
            community : five years after mine closure in Romania, Russia
            and Ukraine
Against the backdrop of economic
            transition, several countries in Eastern Europe have
            undertaken far-reaching programs to restructure their coal
            sectors, which in the 1990s were in a state of deep crisis.
            One aspect of restructuring has been the closure of
            loss-making mines, which are often located in communities
            where the coal industry is the dominant employer, and the
            significant downsizing of the workforce. Mitigation efforts
            that are implemented at the time of mine closure (such as
            severance payments) are usually intended only for the
            laid-off workers. The authors examine the impact of mine
            closure on the entire community five years after mine
            closure in Romania, Russia, and Ukraine. Using quantitative
            and qualitative research methods and based on interviews
            with national, regional, and local experts, and members of
            the affected population, the authors describe the effect of
            mine closure and evaluate the various mitigation efforts
            that have been used by governments in such cases. They
            conclude with policy recommendations of broad relevance to
            programs of industrial restructuring in communities
            dominated by a single industry.
The "Glass of Milk"
            subsidy program and malnutrition in Peru
The authors evaluate the Vaso de Leche
            (VL) feeding program in Peru. They pose the question that if
            a community-based multistage targeting scheme such as that
            of the VL program is progressive, is it possible that the
            program can achieve its nutritional objectives? The authors
            address this by linking VL public expenditure data with
            household survey data to assess the targeting, and then to
            model the determinants of nutritional outcomes of children
            to see if VL program interventions have an impact on
            nutrition. They confirm that the VL program is well targeted
            to poor households and to those with low nutritional status.
            While the bulk of the coverage of the poor is attributed to
            targeting of poor districts, the fact that the poor receive
            larger in-kind transfers is attributed to intradistrict
            targeting. But the impact of these food subsidies beyond
            their value as income transfers is limited by the degree to
            which the commodity transfers are inframarginal. The authors
            find that transfers of milk and milk substitutes from the VL
            program are inframarginal for approximately half of the
            households that receive them. So, it is not entirely
            surprising that they fail to find econometric evidence of
            the nutritional objectives of the VL program being achieved.
            In models of child standardized heights, the authors find no
            impact of the VL program expenditures on the nutritional
            outcomes of young children-the group to whom the program is targeted.
Labor market policies and
            unemployment in Morocco : a quantitative analysis
The authors study the impact of labor
            market policies on unemployment in Morocco. They begin by
            reviewing the main features of the labor market. Then they
            present a quantitative framework that captures many of these
            features-such as a large public sector, high redundancy
            payments, powerful trade unions, and international labor
            migration. The authors simulate the impact of a cut in the
            minimum wage and a reduction in payroll taxation. The
            results indicate that these policies may have a significant
            impact in the short term on open unskilled unemployment. But
            they also show that labor market reforms, to be effective in
            the long run, may need to be accompanied by offsetting
            changes in the budget to avoid crowding-out effects on
            private investment.
The integrated macroeconomic model
            for poverty analysis : a quantitative macroeconomic
            framework for the analysis of poverty reduction strategies
The authors present a dynamic,
            quantitative macroeconomic framework designed for analyzing
            the impact of adjustment policies and exogenous shocks on
            poverty and income distribution. They emphasize the role of
            labor market segmentation, urban informal activities, the
            impact of the composition of public expenditure on supply
            and demand, and credit market imperfections. Numerical
            simulations for a prototype low-income country highlight the
            importance of accounting for the various channels through
            which poverty alleviation programs and debt relief may
            ultimately affect the poor.
International survey of integrated
            financial sector supervision
Despite the intense debate on the
            advantages and disadvantages of adopting integrated
            supervision that has taken place in recent years, little is
            known about the experiences of countries that have adopted
            it and the obstacles and challenges they have faced to
            implement it. In an attempt to shed light on this area, the
            authors present the results of a survey conducted in a group
            of 15 countries that have adopted integrated supervision.
            After a brief review of the literature on integrated
            supervision, the authors examine four topics: 1) The reasons
            cited by this group of countries for establishing an
            integrated supervisory agency. 2) The scope of regulatory
            and supervisory powers of these agencies. 3) The progress of
            these agencies in harmonizing their regulatory and
            supervisory practices across the intermediaries they
            supervise. 4) The practical problems faced by policymakers
            in adopting integrated supervision. The survey revealed that
            the group of integrated supervisory agencies is not as
            homogeneous as it seems. Important differences arise with
            regard to the scope of regulatory and supervisory powers the
            agencies have been given. In fact, contrary to popular
            belief, less than 50 percent of the agencies can be
            categorized as mega-supervisors. Another finding is that in
            most countries progress toward the harmonization of
            prudential regulation and supervision across financial
            intermediaries remains limited. Interestingly, the survey
            revealed that practically all countries believe they have
            achieved a higher degree of harmonization in the regulation
            and supervision of banks and securities companies than
            between banks and insurance firms. The survey also
            identified some practical problems faced by this group of
            countries in establishing their unified supervisory
            agencies. The authors discuss these problems, along with the
            practical lessons and recommendations provided by the 15
            agencies to other countries considering integrated
            supervision, in the final section of the paper.