rafmacalaba/datause-encoder-data huggingface dataset:
- Duggan, Victor, Sjamsu Rahardja, and Gonzalo Varela (2013), “Service Sector Reform and Manufacturing Productivity: Evidence from Indonesia,” Policy Research Working Paper 6349, World Bank, Washington, DC.

- Dunning, J.H. (1985), Multinational Enterprises, Economic Structure and International Competitiveness, New York: John Wiley and Sons.

- Ethier, Wilfred (1982), “National and International Returns to Scale in the Modem Theory of International Trade," _American Economic Review_ , Vol. 72(2):389-405.

- Ethier, Wilfred and James R. Markusen, (1996), “Multinationals, Technical Diffusion, and Trade,” _Journal of International Economics,_ Vol. 41, 1-28.

- Feenstra, Robert C. (2010), “Measuring the Gains from Trade Under Monopolistic Competition,” _Canadian Journal of Economics_ , Vol. 43(1), 1-28.

- Feenstra, Robert C. (1994), “New Product Varieties and the Measurement of International Prices,” _American Economic Review_ , Vol. 84, 157-177.

- Fernandes, Ana M. and Caroline Paunov (2012), “Foreign Direct Investment in Services and Manufacturing Productivity: Evidence for Chile,” _Journal of Development Economics, 97 (2), 305-321._

- Findlay, Christopher and Tony Warren, eds. (2000), _Impediments to Trade in Services: Measurement and Policy Implications_ , London; Routledge.

- Fink, Carsten and Martin Molinuevo (2007), “Liberalization of Trade in Services: East Asian Free Trade Agreements in Services, Roaring Tigers or Timid Pandas,” The World Bank. Available at: http://siteresources.worldbank.org/INTEAPSUMEASPR/Resources/25768471163691185244/East_Asian_FTAs_in_Services.pdf

- Fink, Carsten and Marion Jansen (2009), “Services Provisions in Regional Trading Agreements: stumbling or building blocks for multilateral liberalization?” Paper presented at the WTO-CEPR conference. Available at:

https://www.wto.org/english/tratop_e/region_e/con_sep07_e/fink_jansen_e.pdf

- Francois, Joseph and Bernard Hoekman (2010), “Services Trade and Policy,” _Journal of Economic Literature, 48 (September), 642-692._

- Francois, Joseph, Bernard Hoekman and Julia Woerz (2007), “Does Gravity Apply to Intangibles? Measuring Openness in Services.”  Paper presented at the European Trade Study Group annual meeting, Athens. Available at: http://www.etsg.org/ETSG2007/papers/woerz.pdf

- Francois, Joseph, M. Manchin and Will Martin (2013), “Market Structure in CGE Models of International Trade,” in Peter Dixon and Dale Jorgenson (eds.), _Handbook of Computable General Equilibrium Models_ , Amsterdam: North Holland, Elsevier, 1571-1600.

- Francois, Joseph and Clint Shiells (eds., 1994), _Modeling Trade Policy: Applied General Equilibrium Assessments of North American Free Trade_ , Cambridge: Cambridge University Press.

42
# **<mark>After world war II</mark>**

<mark>In 1958, third-mortgage credit institutions (in Danish: Reallånefonde) were set up on initiative from the Danish government. The new institutions were set up as independent business foundations. The third-mortgage credit institutions were allowed to grant loans of up to 75 percent of the value of the property, but for specific purposes only.</mark> <mark>In 1970, the Danish Parliament passed a mortgage credit reform. At that time, Denmark had 24 different MCIs, and lenders had to take out mortgage loans with at least three different MCIs to finance a home. The new Mortgage Credit Act introduced massive changes. The three-tier system was changed to a two-tier system, and all MCIs were allowed to grant both first- and second-mortgage loans. Maximum lending maturity was reduced to 30 years. Lending limits were lowered to 40 percent for first-mortgages (i.e., ordinary loans), and second-mortgages were only granted for specific purposes. The 1970-reform lead to a wave of mergers between Danish MCIs.</mark>

# **<mark>1980 and onwards</mark>**

<mark>In 1980, a new series of amendments to the Mortgage Credit Act were passed. The two-tier system was abolished and standard mortgage credit came instead. Cash valuation and cash lending limits were introduced as general principles. In 1982, the limit on lending for owneroccupied housing was raised from 40 percent to 80 percent of the value of the property.</mark> <mark>Throughout the 1980s the Mortgage Credit Act was amended (loosened or tightened) several times as part of general economic policy efforts to stabilize the Danish economy.</mark> <mark>In 1989, the Mortgage Act was reformed in order for the legislation to meet the obligations of Denmark’s membership of the European Union and to adapt to EU directives. More importantly the reform removed the restrictions on establishing new MCIs that had been in force since the 1970-reform. New MCIs were to be public limited companies with a minimum solvency ratio of eight percent.</mark> <mark>Since then amendments to the Mortgage Credit Act have liberalized and deregulated different aspects of the original Act.</mark> Source: BRF Kredit (www.brf.dk) and Michael Møller & Niels Christian Nielsen (1997): "Dansk realkredit gennem 200 aar"

# **5.3.2 Regulation of market infrastructure**

Presently, the Copenhagen Stock Exchange (CSE) is the only exchange in Denmark where listed fixed income securities are traded and – as fixed income securities are usually traded OTC - to which deals are reported.

A driver behind the first stock exchange reform in 1988 was an inefficient secondary market, partly due to the lack of a short-term (money) market. Therefore, banks had problems exchanging liquidity with each other. This was particularly a problem for small (non-deposittaking), specialized banks dealing in securities, as they often faced difficulties in financing their trades. Therefore, for an interim period the Central Bank stepped in and developed this market 83
- 24 -

# 3.1 The Econometric Estimation

In this sub-section we will estimate equations (2.12) and (2.13) above using Sudanese annual data from 1970 to 1989. As mentioned above, the justification for the interpretation of equation (2.11) as describing the evolution of the equilibrium RER for 'sustainable' levels of the fundamentals, and that error-correction is adequate for the data generating process of the RER, require that the individual variables that enter into the equation be cointegrated. The relatively short length of the data precluded formal tests for cointegration. An informal assessment based on k-variance ratio tests,<sup>24</sup> however, is provided in table (3.5) and graph (3.1). As can be seen from the table and the graph the variance ratios for the differenced series are all lower than their level counterparts, and they converge faster to zero as k grows. Also the table and graph show that the residuals of the long run RER equation are clearly stationary.

The estimation of the cointegration model with the capital flows ratio included did not produce meaningful results. I, therefore, decided to consolidate the two components of domestic absorption _(Nr and GN)_ and represent them with the stock of aggregate domestic credit to GDP y y

# (DC/Y).

Equations (2.12) and (2.13) are then estimated sequentially and the results of the estimation are reported in equations (3.12') and (3.13') below.

2"ihis measure is proposed by Cochrane (1988). The intuition behind this measure comes from the fact that the ratio (1/k) var (X,-X,-k) / Var (X,-X,.) will be equal to one if Xt has a random walk process, while it converges to zero (as k -x o) if X, follows an AR (1) process for example (see also Kaminsky (1990)).
6 sanitation, transport, and electricity -- to environmental health, we review the literature on this topic, which tends to rely more on household level data.

The clearest link to emerge from micro-household studies are those between water, sanitation and hygiene (WSH) and health. Esrey et al. (1991) reviewed 49 studies showing an average 22 percent reduction in diarrheal morbidity from improved water and sanitation. Some of the most convincing evidence comes from a natural experiment that occurred in Argentina as a result of privatization of about 30 percent of the country’s municipal utilities, covering 60 percent of the country’s population. This was studied by Galiani et al. (2002) who found, using the variation in ownership of water provision (and the associated increase in coverage and improvement in quality of water services), that child mortality fell 5 to 9 percent in areas that privatized their water services. The effect was largest in poorer areas. The authors check the robustness of these results in a number of ways and clearly establish that privatization is associated with significant reductions in death from infectious and parasitic diseases, but is uncorrelated with deaths from causes unrelated to water conditions.

In addition, in their exhaustive review of the links between infrastructure and poverty, Brenneman and Kerf (2002) also highlight some of the relationships identified in the literature between health and transport and electricity. They find evidence reported in various studies that better transport contributes to easier access to health care as well as easier staffing and operation of clinics. Moreover, improved transport policy can reduce emissions of carbon dioxide which affect acute respiratory infections (ARI) and lead pollution, both of which are particularly harmful to children.

As to electricity, it is a clean fuel that reduces indoor air pollution (although there are options other than electricity that offer healthier alternatives to traditional bio-mass) and allows for a reduction in household accidents such as paraffin poisoning and burns associated with other commonly used fuels.<sup>7</sup> By reducing the cost of boiling water, access to electricity can also be shown to improve hygiene. Finally, availability of electricity is essential to the provision of health care and the functioning of clinics.<sup>8</sup>

> 7 These are common, and sometimes fatal, accidents for children of poor households in developing countries.

> 8  In particular, vaccines require continuous and reliable refrigeration to retain their effectiveness.   For a discussion of these issues and an in-depth review of the literature, see Brenneman and Kerf (2002.)
evidence, however, is mixed.<sup>2</sup> Chattopadhyay and Duflo (2004) undertake, to our knowledge, the first major attempt to empirically analyze the effect of women politicians in India by exploiting the randomness some Indian states use in implementing reservation policies. Using data on female presidents and public goods provision in village level governments (called _gram panchayats_ , henceforth GPs) combined with data on women’s preferences, the authors show that female GP presidents (known as _pradhans_ in some states) in women-reserved seats invest more in public goods considered important by women, such as drinking water and roads in West Bengali GPs and drinking water in Rajasthani GPs. Duflo and Topalova (2004) find a positive impact on public goods provision in women-headed GPs; however, they also find that citizens in GPs with women presidents are generally more dissatisfied with public goods provision and perceive these women to be ineffective leaders.<sup>3</sup> In their empirical analysis of West Bengal’s GPs, Beaman et al. (2009) provide evidence that this ‘perception bias’ fades over time with repeated exposure to female leaders. They additionally find evidence that GPs with prior female president reservations have significantly more women in _unreserved_ GP-level elected seats, suggesting that reservations may improve the electoral potential of women. Beaman et al. (2010) build on each of these three papers by examining villages in West Bengal over an additional GP election cycle as well as a panel of 11 Indian states. They confirm the main findings of these papers in addition to showing that women GP presidents from Chattopadhyay and Duflo (2004) perform even better over time: in the second election cycle analyzed, women presidents engaged in more repairs of schools and health centers and investments in irrigation facilities. In the 11 states overall, they find that women perform better for some public goods. However, they do not

> 2 Mansuri and Rao (2013) provide an excellent discussion of the literature on women’s political reservations— particularly in India—and their impacts on participation in government as well as public goods provision.

> 3 Duflo and Topalova (2004) assume that reservations at the GP level are randomly assigned in all states in their analysis.  However, many states—including states in their sample—use population ratios to assign reservations.

3
-43-

# V.3 Macroeconomic Polcy.

Lagging rural development and urban bias have characterized Mexico since at least the 1960's. In addition, since the early 1970's the macroeconomic environment has been less stable. I briefly mention here two channels by which this affects poverty. First, as elaborated on in the next section, the poor, and particularly the extremely-poor, have lower ability to bear risk. Uncertainty is a fundamental determinant of their decisions with regards to migration, on and off-farm labor, crop choice, etc.. And while some sources of uncertainty are truly exogenous (e.g. the weather), others derive from cycles induced by macroeconomic policy. A general environment of certainty is, from the point of view of poverty, a public good. Increases in the demand for unskilled labor that result from unsustainable macroeconomic expansions probably fail to help the poor. If the poor perceive such increases to be transitory it may not induce them to abandon self employment in their marginal lands. On the other hand, if they do change their behavior they will then suffer income losses when the unsustainable output expansion terminates. Macroeconomic uncertainty, moreover, depresses the medium term aggregate demand for labor<sup>72</sup> . In addition, given the extremely-poor's need for security, stop-go social spending programs are not as effective as those that deliver steady benefits, even if they cost the same (see below)73.

72The effect of uncertainty on the demand for labor is ambiguous (negative) for a risk-neutral (averse) profit maximizing firm. Aspe and Blanco (1984), however, find that for Mexico higher macroeconomic uncertainty has lead to lower employment; they measure uncertainty by the one-step ahead variance of the forecasting errors for two macro time series (the price level and the money supply), and cannot reject the hypothesis that for the period 1973-80 uncertainty increased depressing output and employment.

73An analysis of the impact on the poor of the 1983-88 macroeconomic crisis is beyond the scope of this paper. Lustig (1990) argues that most of the income contraction occurred within the middle and lower-middle income strata of the population. The World Bank (1989b, p. ii), however, argues that: "The poor bore the brunt of the economic crisis." A fuller analysis of this issue will be feasible once the 1989 IES is available. Nevertheless, note that to the extent that u.itargeted subsidies to food and agriculture were relatively ineffective in reaching the poor, the direct effects of the fiscal cuts might not have been severe. The poor, particularly the rural extremelypoor, were not receiving significant benefits before the crisis anyway. On the other hand, the indirect impact could be more significant, as the cuts in infrastructure investments for irrigation, rural roads, etc. have negative medium term effects on the poor's earnings opportunities.
In Table 1b columns 2 to 6 we also present results on gender gaps in additional business outcomes, including: time spent on work activities, revenues, and employment for those businesses that are operational. The results show a similar pattern to the business closure rates. On the intensive margin, female entrepreneurs whose firms are operating spend less time in work activities than male entrepreneurs. Women entrepreneurs are also 1.2 percentage points more likely to report a reduction in revenues than male entrepreneurs (an average of 68% of businesses reported experiencing lower year-on-year revenues, relative to pre-COVID-19 levels in 2019). Women-led businesses also indicate a larger drop in sales: an average 12.9% lower sales relative to 2019, compared to male-led businesses. In terms of employees, we find no gender difference in the likelihood of reducing workers (an average of 44% of businesses reported a reduction in employees).<sup>34</sup> However, women-led businesses were 3.9 percentage points more likely to completely cut their workforce than male-led businesses.<sup>35</sup> While firm sector, size and age (Panel C) explain some of the gender gap in business revenues and employment outcomes, a gap still persists once we control for these factors.

The final two columns of Table 1b replicate the business closure and time spent on work outcomes for the 2021 data where globally 12% of male businesses were closed during the September 2021 survey wave.<sup>36</sup> As was seen in 2020, in column (7) Panel C we show a similar pattern in 2021: controls for firm sector, size, age, and role helps explain some of the gender gap in business closures but not all: in 2021 we find a statistically significant gender gap in business closures of 2.8 percentage points even after controlling for these firm characteristics.

The persistence of the gender gap in firm closures and performance even after accounting for firm level characteristics suggests there are other potential factors driving the gender gap that are not accounted for. Women entrepreneurs may be disproportionately affected by a

> 34COVID-19-focused phone-based surveys across 51 countries in 2020 that sample from national business registries find similar widespread negative impacts on sales and employment among small and medium enterprises (see Apedo-Amah (2020); Adian (2020)). The cross-country average suggests the probability of a business being closed was 26%, average sales reduction was -49%, and 57% of firms adjusted employment levels, evaluated after 6 weeks from the peak of the COVID-19 shock.

> 35This result is conditional on the business reporting a reduction in their workforce.

> 36This is slightly lower than the business closure rate in the previous survey wave in October 2020 where 14% of businesses were found to be closed.

21
describe these literatures, compare some measures of port efficiency, and discuss the links between port efficiencies and transportation costs.

# **4.4.1 Production Function Measures and Cost Analysis**

This operations research study approach is based on the production function estimation and involves several linear-programming applications. It focuses on (i) identifying an _efficiency frontier_ based on observed inputs and outputs; and then (ii) calculating the distance between a productive-unit (read: port) efficiency and the efficiency frontier. A popular linear-programming application includes the Data Envelopment Analysis (DEA), a non-parametric and deterministic approach sensitive to variable selection and measurement errors. The competing production function estimation approach is represented by the Stochastic Frontier Analysis (SFA)—a parametric and stochastic approach that requires careful decisions over the functional form of the production function.

Blonigen and Wilson (2008) provide an informative literature review of this approach. The main advantage of estimating the port efficiency as the production function is in pinpointing the marginal capacity gained from investing in any particular part of the port infrastructure. This analysis then allows identifying the bottlenecks for any given port and performing an informed cost-benefit analysis when evaluating various investments in ports. However, this type of analysis tends to omit the demand side and thus by itself is not providing a direct link with the transportation costs associated with utilizing the ports.

Recent work by Herrera Dappe and Suárez-Alemán (2016) linked this approach to transportation cost.<sup>36</sup> This estimated individual the DEA for paper first ports efficiency using methodology each year<sup>37</sup> and then merged the average DEA-methodology annual port efficiencies with the OECD Maritime Transport Cost dataset and UN Commtrade US exports from 2000-2007. Next, building on

> 36This paper leverages the data on nearly fifty (50) ports across East Asia, the Middle East, Southeast Asia, and Southern/Eastern Africa. Herrera Dappe et al. (2017) further focused on countries and ports around the Indian Ocean.

> 37It also decomposed productivity changes into technological progress, pure efficiency, and scale efficiency. This decomposition is performed by the Malmquist Total Factor Productivity (TFP) Index a la Caves et al. (1982). Other papers, such as Suárez-Alemán et al. (2016), also use the Malmquist TFP Index to track and decompose sources of productivity gains over longer port-efficiency times series.

37
# INTERVIEWER: SHOW THE HEALTH CARE PROVIDER THE PARTOGRAPH FOR CASE 5: MRS. ADEBI

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- 04 [] CONTINUE TO MONITOR FETAL HEART RATE

- os [] CONTINUE TO MEASURE MOTHER'S VITAL SIGNS (HEART RATE, BLOOD PRESSURE, TEMPERATURE)

- o6 [] MEASURE URINE AND TEST FOR PROTEIN/GLUCOSE

- o7 (J PALPATE THE UTERUS os [J REPEAT CERVICAL EXAM NOW o9 [] AUGMENT LABOR 10 [J] PREPARE FOR IMMINENT DELIVERY

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- 13 [] RECORD FLUIDS/DRUGS ADMINISTERED

- 14] ADMINISTER ANTIBIOTICS 15 [J ADMINISTER MAGNESIUM SULFATE

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smaller in Ghana at this date than what has been observed in many other countries (cf. Kenya, Mazumdar, 1993).

**Table 6.3: Rural -Urban Differences in Expenditure, 1991-92**

_(Thousand cedis)_

||Accra|Other|Rural|
|---|---|---|---|
|||Towns||
|Medians||||
|Expenditure per Eamer|660|620|447|
|Expenditure per capita|256|184|144|
|Expenditure per AEU|358|276|228|

_Source GLSS 1992_

**Table 6.4: Rural -Urban Differences in Income, 1991-92**

_(Thousand cedis)_

||Accra|Other<br>Towns|Rural|
|---|---|---|---|
|Means||||
|Household Income|571.4|498.1|462.2|
|Income for Earners|520.8|438.3|370.9|
|Income per capita.|206.5|143.1|129.5|
|Income for AEU|520.8|438.3|370.9|
|Mediums||||
|Household Income|388.9|328.3|322.1|
|Income for Earner|348|276.9|256.7|
|Income per capita|136.2|84.2|81.3|
|Income per AEU|186.3|127.2|125.6|

_Source: GLSS 1987_ Measurement of income in terms of individual welfare can be refined by considering income per adult equivalent units (measured according to the scales worked out by Deaton) to take account of varying proportions of household members of different ages. When we compare this measure among the three sectors, the rural areas emerge with a significantly higher level of nominal income than the other urban areas, and even higher than Accra. It will be seen that this pattern of difference is noticed more strongly when we consider medians rather than the means. _We conclude that in real terms the average income levels in the rural areas in 1987 were higher, perhaps by as much as 30 per cent compared to Accra, and by a smaller amount relative to other towns._ 41