rafmacalaba/datause-encoder-data huggingface dataset:
The elasticity parameters include the elasticities of substitution used in the various tiers of production sector modeling and modeling of international trade (imports and exports). Unfortunately, no estimation of the elasticity of substitution is available for Egypt. This is a common problem for many developing countries. The only source is existing studies. We used values of elasticity of substitution from Timilsina and Sebsibe (2023) and Mosa (2019). Both of these studies are for Ethiopia. We could not find other countries with closer economic structures to Egypt that have estimated the elasticities of substitution.

# **3. Scenarios for Policy Simulation**

The study considers two pricing policies for reducing CO2 emissions: removing fossil fuel subsidies and introducing a carbon tax. The carbon tax rate is EGP600/tCO2, equivalent to US$20/tCO2 in 2023 and 36/tCO2 in 2019.<sup>11</sup> We have developed one baseline scenario, representing current policies,<sup>12</sup> and four illustrative scenarios depending on how the saved subsidies and carbon tax revenues are recycled into the economy. These scenarios are defined in Table 2. It is possible to have many more scenarios; however, having too many scenarios may dilute the comprehensiveness of the study, obstruct the flow of the message, and lengthen the paper. A popular scenario in the literature, using tax revenues to cut income (wage, capital, or both) taxes, is inappropriate here. This is because the size of the saved subsidy and carbon tax revenues was much higher than the total income tax households pay. Note that household income tax accounts for only 13% of the total government revenue. Sales tax, corporate/production taxes and import duties account for, respectively, 48%, 31% and 6% of the total government revenue. It means this scenario will turn like the cash transfer scenario favoring high-income households (high-income households pay a higher tax).

> 11 The annual average exchange rate between the United States dollar (US$) and Egyptian pound (EGP) increased from 16.8 in 2019 to 30 in 2023. Out of 31 national or sub-national economies that have introduced carbon tax to date, only 10 have a carbon tax rate higher than $36/tCO2 by the end of 2022 (World Bank, 2023).

> 12 In this static model, the baseline scenario represents the economic situation presented by the Social Accounting Matrix (SAM), the main economic database used for the model. In the baseline, all variables and parameters, such as sectoral value added, outputs, labor, capital, intermediate consumption, household income and savings, government revenue, taxes, etc. are those presented in the SAM. The existing policies, such as fuel subsidies, are also presented in the SAM.
# **Exhibit 3.6 – Concentration of stock market activity**

_Turnover of top ten active companies as % of total turnover, 2004-07 (upper graph) Volume traded of top 100 active firms as % of total firms for selected countries, 2008 (left lower graph) Volume traded of top 100 active firms as % of total firms in Egypt, 2005-08 (right lower graph)_ <!-- Start of picture text --> Egypt Argentina Chile Colombia Hungary Israel Jordan Mexico Peru Phillipines Turkey<br>100%<br>90%<br>80%<br>70%<br>60%<br>50%<br>40%<br>30%<br>20%<br>10%<br>0%<br>Cumulative fraction of<br>Total volume traded, % Cumulative fraction of<br>Total volume traded, %<br>100%90% Egypt 100%90%<br>80% Abu Dabhi 80%<br>70% Amman 70% 2008<br>60% Casablanca 60% 2007<br>50% Kuwait 50% 2006<br>40% Manama 40% 2005<br>30% Muscat 30%<br>20% Qatar 20%<br>10%<br>0% Firms, 10% Firms,<br>1 11 21 31 41 51 61 71 81 91 101 from large to small 0% 1 11 21 31 41 51 61 71 81 91 101 from large to small<br>2004 2005 2006 2007 2004 2005 2006 2007 2004 2005 2006 2007 2004 2005 2006 2007 2004 2005 2006 2007 2004 2005 2006 2007 2004 2005 2006 2007 2004 2005 2006 2007 2004 2005 2006 2007 2004 2005 2006 2007 2004 2005 2006 2007<br><!-- End of picture text --> _Source: World Federation of Exchanges, Bloomberg; World Bank staff analysis Note for lower graphs: 2008 information is up to and including June 20_<sup>_th_</sup> _._ Stock liquidity in many emerging countries is low and non-trading days occur regularly. Therefore, the number of non-trading days is a transparent measure of liquidity. We benchmark 2008 information on the fraction of non-trading days to total trading days of 201 Egyptian stocks. On average, Egypt’s fraction of non-trading days has been declining and is 11.8 percent in 2008 from 38.2 percent in 2004 (Exhibit 3.7). Clearly Qatar’s 43 stocks show superior liquidity: almost 80 percent of the stocks have 2.5 percent or fewer non-trading days. In contrast, Muscat’s and Manama’s markets show the lowest activity. Egypt’s 201 stocks (for which Bloomberg data is available) show good liquidity with almost 60 percent (118 stocks) of the most liquid stocks having 2.5 percent or fewer non-trading days.

Yet, Egypt’s 20 percent least active stocks show low liquidity, comparable to Amman, Casablanca, and Kuwait. This might warrant additional delisting. In addition, Exhibit 3.7 shows that Egypt’s liquidity position has been improving rapidly since 2004. The flattening tail of the distribution indicates that an increasingly smaller fraction of stocks are completely illiquid: according to Bloomberg, to date, 2008 only saw 14 completely illiquid stocks whereas this number was 36 in 2004.

27
Policy ReseaRch WoRking PaPeR 4485

# **Abstract**

Risk and protective factors influence behaviors and outcomes for youth. While risk factors expose youth to risk-taking behavior that compromises well-being and hinders personal development, protective factors mediate risk and act as protective mechanisms that insulate youth from negative outcomes. This paper groups youth by risk levels using a cluster analysis methodology, and identifies the risk and protective factors that characterize these groups. Using data from a new household survey covering youth in four urban areas of Argentina in 2005, youth are clustered by characteristics in relation to family and health, education and income, substance abuse, and crime and violence as indicators of risk and protective factors, and behaviors and consequences. Almost half of Argentine youth are at an elevated risk level, and one in four is at serious risk of experiencing negative outcomes or already suffering the consequences. The findings show, for example, that higher income protects against risk factors, such as an insecure neighborhood, and facilitates youth attending school. Furthermore, parents’ lack of education is negatively related to the behaviors and outcomes of their children.

This paper—Social Development Family, Latin America and the Caribbean Region (LCSEO) and Social Protection, Human Development Network (HDNSP)—is part of a larger effort in the departments to reduce poverty and increase social inclusion. Policy Research Working Papers are also posted on the Web at http://econ.worldbank.org. The author may be contacted at MJustesen@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
quality than our approach does—or, in other words, that our approach is more conservative in discounting the schooling of poorer-performing countries. Nevertheless, the _LAYS_ estimates derived under the two approaches are highly correlated.

# **Figure 5.8: Kaarsen’s (2014) approach versus LAYS**

<!-- Start of picture text --> Kaarsen’s Education Quality estimates (re‐ LAYS derived using Kaarsen’s Education<br>normalized) versus Learning‐per‐Year relative Quality estimates (re‐normalized) versus<br>to Singapore LAYS<br>0.0 0.2 0.4 0.6 0.8 1.0 0 5 10 15<br>TIMSS: Learning per year rel. to Singapore LAYS using TIMSS<br>Source: Authors’ analysis of Kaarsen (2014), TIMSS 2015, and Barro and Lee data (2013).<br>Notes: Numeraire country is Singapore. Illustration for case where learning starts at Grade 0 for TIMSS. For<br>relative learning per year: Correlation coefficient is 0.94. Spearman rank correlation is 0.93. For LAYS:<br>Correlation coefficient is 0.97. Spearman rank correlation is 0.97.<br>1.0 15<br>0.8<br>10<br>0.6<br>0.4<br>5<br>0.2 LAYS using Education Quality (Kaarsen)<br>Education Quality (Kaarsen) rel. to Singapore<br>0<br>0.0<br><!-- End of picture text -->

# **_5.4  Linear versus multiplicative combinations of schooling quantity and quality_**

A final consistency check compares LAYS with estimates that combine schooling quality and quantity in a different way. As explained in Section 2, the LAYS measure, like Schoellman (2012) and Kaarsen (2014), uses a multiplicative approach to deriving quality-adjusted years of schooling. In essence, all three use a variant of the form: In our case, Adjusted_Y is _LAYS, and_ q� is equal to R��, which represents test scores relative to those in a numeraire country. Hanushek, Ruhose, and Woessmann (2017) take a different 38
<!-- Start of picture text --> Urban Elast. to Cons. Rural Elast. to Cons.<br>~~<br>©2<br>c Cc<br>22<br>33S<br>JJ<br>&<br>oO a2<br>5 5<br>et et<br>- al<br>eCo ioe<br>ia a<br>lu lu<br>“ ~<br>oa oa<br>i i]<br>3600 13600 23600 33600 43600 53600 6361 3600 13600 23600 33600 43600 53600 63600<br>PC Cons. (1000s) PC Cons.(1000s)<br>Urban Elast. to Inc. Rural Elast. to Inc.<br>==<br>ss<br>5 =)<br>=] a<br>22<br>aoO<br>ee a<br>ao ao<br>£ =<br>am od<br>i—oai—<br>goa a<br>tb a<br>Wo = eWi =<br>“ “<br>i] I<br>3600 13600 23600 33600 43600 53600 6361 3600 13600 23600 33600 43600 53600 63600<br>PC Inc. (1000s) PC Inc. (1000s)<br><!-- End of picture text -->
|Electrical,<br>electronic and<br>optical equipment|255|218|948|849|1,950|33.7%|89.6%|
|---|---|---|---|---|---|---|---|
|Transport<br>equipment|753|735|1,992|1,889|4,349|28.5%|94.8%|
|Other<br>manufacturing|942|864|1,232|1,136|705|-4.1%|92.2%|
|Utilities<br>(electricity, steam,<br>gas, and water<br>supply)|255|218|3,038|2,466|4,460|50.5%|81.2%|
|Construction|557|461|2,678|1,417|6,843|43.1%|52.9%|
|**Services**|**16,142**|**9,689**|**40,088**|**21,423**|**58,888**|20.3%|53.4%|
|Wholesale and<br>retail trade and<br>repairs|3,274|2,871|11,311|7,498|13,319|22.2%|66.3%|
|Transport and<br>communication|3,625|2,908|4,270|2,636|5,649|6.5%|61.7%|
|Financial<br>intermediation|3,448|796|5,674|2,974|17,779|26.4%|52.4%|
|Other|5,795|3,114|18,833|8,315|22,141|21.1%|44.2%|

_Source_ : Rosstat, including tabulations in Kuznetsov (2010) for 2005 and 2009. _Note_ : Industry categories have been harmonized as feasible. "Other manufacturing" includes textiles and apparel, leather, and miscellaneous manufacturing. "Other services" includes real estate, rental, and business activities; education; health and social work; and other activities. "Quality FDI stock" is defined as total FDI minus FDI from the three main round-tripping FDI economies (Cyprus, the British Virgin Islands, and the Bahamas). Some FDI registered from other locations may also be round-tripping.

2
Policy Research Working Paper 10859

# **Abstract**

This paper estimates the profitability of inorganic fertilizer use in maize production in Malawi. It employs a two-wave, nationally representative panel of data on smallholder households and plots to estimate household fixed effects, plot fixed effects, and multilevel regressions. The results suggest that inorganic fertilizer use is generally unprofitable at prevailing market prices when, assuming that farmers incur positive transaction costs in the use of fertilizer. The low fertilizer profitability is driven by low nitrogen use efficiency, the kilograms of maize produced per kilogram of nitrogen, which is estimated to range from 9.2 to 12.1. For fertilizer use to be profitable, the nitrogen use efficiency would have to increase by at least 137 percent (from 11.89) if maize output is valued at the farmgate price and by 50 percent (from 11.89) if maize is valued at the lean season market price. For farmers who receive the fertilizer subsidy, it improves the profitability of fertilizer use by increasing the maize-nitrogen price ratio at all rates of subsidy (0 to 100 percent). However, unless farmers can store their produce and sell during the lean season when the output price is relatively higher, they would be better off by at least MKW 66.16 (US$0.18) per kilogram of subsidized nitrogen with the cash equivalent of the subsidy than with subsidized fertilizer. The analysis also finds that, compared to the current rate of nitrogen application, the government recommended rate of application is between 116 and 119 percent more profitable on smallholder fields.

This paper is a product of the Agriculture and Food Global Practice. 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://www.worldbank.org/prwp. The authors may be contacted at fdarko@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
Table 14: Changes in health care and mortality in villages with new all-weather roads

|Question|1|2|3|4|5|6|
|---|---|---|---|---|---|---|
|Village|||||||
|1|yes|yes|yes|yes|yes|yes|
|2|yes|yes|yes|yes|yes|yes|
|3|yes|yes|yes|yes|yes|no|
|11|yes|yes|yes|d.k.|yes|d.k.|
|18|yes|yes|yes|no|yes|yes|
|19|yes|yes|yes|yes|yes|yes|
|26|yes|yes|yes|d.k.|yes|d.k.|
|29|yes|yes|yes|no|yes|no|
|30|yes|yes|yes|yes|yes|no|

Q1: Are children taken more regularly to health facilities for check-ups and immunisations? Q2: Do the chronically sick receive better and more regular treatment? Q3: Do villagers receive more timely treatment and thereby suffer fewer long-term problems? Q4: Do doctors come to the village more readily to treat those who are too sick to be transported? Q5: Has mortality fallen as a result of better access to health facilities? Q6: In emergencies, is the poor quality of treatment or absenteeism among doctors still the main problem? d.k.: don’t know.

be substantial relative to the ‘commercial’ ones. It should be remarked at the outset that whereas the great majority of the respondents in the household survey were male, both sexes were strongly represented in the focus groups.

Beginning with the individual households, the respondents in those nine villages that had received an all-weather road at any time after January 2007 were asked to rank the three domains according to the size of the corresponding benefits they had enjoyed from the new road thus far. The commercial and health domains were ranked roughly equally (with 31 and 29 first, and 23 and 28 second ranks, respectively), whereas education lagged far behind. It is possible that the latter reflects the fact that 28 of the 30 villages have their own primary school, but only two have a secondary school, – – whereby these poor families or perhaps their male respondents may place little value on secondary education. At all events, the null hypothesis that the rankings are independent of the domains is resoundingly rejected ( _χ_<sup>2</sup> (4) = 13 _._ 28 _, p_ = 0 _._ 000). The respondents were also asked to rank the benefits stemming from the commercial domain against those from education and health combined: 24 ranked the former first, 18 put them on a par, 28 ranked the latter first, and one expressed no opinion. The null that these rankings are independent of the (two) domains cannot be rejected at conventional levels ( _χ_<sup>2</sup> (3) = 4 _._ 34 _, χ_<sup>2</sup> 0 _._ 10<sup>=6</sup><sup>_._25).Thesefindingssuggestthatinthe</sup> 33
**15c. Mismatch between accountability and appointment of the Supervisory Board**

# **By type Across granular regions**

<!-- Start of picture text --> Head Gov. Legislative Sharehold. Official Head Gov. Legislative Sharehold. Official Head Gov. Legis. Shar. Offic. Head Gov. Legis. Shar. Offic. Head Gov. Legis. Shar. Offic.<br>Commercial Development Benchmark Europe WEST ECA EAST ECA<br>100% 100%<br>80% 80%<br>60% 60%<br>40% 40%<br>20% 20%<br>0% 0%<br><!-- End of picture text --> Development SOFIs are only slightly less likely than Commercial SOFIs to impose formal qualifications in hiring the members of the SBs and to offer fixed-terms contract - the percentage difference is not wide particularly regarding formal minimum qualifications (Figure 16a). Interestingly, not all Commercial SOFIs have minimum qualification criteria or evaluate senior management performance. Furthermore, having formal minimum qualification criteria for the SB members appears to almost double profitability (in terms of median ROE) and capital adequacy (in terms of median CAR), while dropping by about a third the median of the NPL ratio (Figure 16b).

**Figure 16: Formal minimum qualification criteria**

# **16a. Supervisory Board and Senior Management By type**

<!-- Start of picture text --> Commercial Development<br>Formal min qualif. Supervisory Board Sup. Board appointed fixed terms<br>Formal min qualif. Senior Management Performance evaluated Sen Mngmt<br>100%<br>80%<br>Percent Yes 60%<br>40%<br>20%<br>0%<br><!-- End of picture text -->

**Across granular regions**

<!-- Start of picture text --> Benchmark Europe WEST ECA EAST ECA<br>Formal min qualif. Supervisory Board Sup. Board appointed fixed terms<br>Formal min qualific. Senior Management Performance evaluated Sen Mngmt<br>100%<br>80%<br>Percent Yes 60%<br>40%<br>20%<br>0%<br><!-- End of picture text --> 36
CROP PRODUCTION AND ROAD CONNECTIVITY IN SUB-SAHARAN AFRICA

**Table 4.5 Impacts of road connectivity on the production of different crops: East Africa**

||(1)|(2)|(3)|(4)|
|---|---|---|---|---|
|Elasticity of travel time to nearest city with 100,000 people|High-input crop<br>production|Low-input and<br>subsistence crop<br>production|Irrigated crop<br>production|All combined|
|Estimation method|IV-Tobit|IV-Tobit|IV-Tobit|IV-Tobit|
|Ttl r|–0.396***|–1.818***|–1.030***|–1.691***|
|oa cops|(0.146)|(0.152)|(0.136)|(0.086)|
|Cereals|–0.419**|–0.483***|–1.836***|–1.764***|
||(0.185)|(0.162)|(0.198)|(0.130)|
|Cash cros|—|–1.824***|–1.043***|–1.219***|
|p|—|(0.190)|(0.164)|(0.146)|
|Mi|1.939***|1.175***|–0.808***|–0.777***|
|aze|(0.406)|(0.326)|(0.212)|(0.222)|

# _Source:_ Own calculations.

_Note:_ East Africa includes the following seven countries: Kenya, Uganda, Tanzania, Zambia, Malawi, Mozambique, and South Africa. Total crops include 20 crops; cereals (6) are wheat, rice, maize, barley, millet, and sorghum; cash crops (3) are coffee, cotton, and groundnuts. All crops are aggregated using the medians of African country-level crop prices (US$). Standard errors in parentheses.

* significant at 10 percent; ** significant at 5 percent; *** significant at 1 percent.

The regression results for West Africa (table 4.7), however, show markedly different patterns. First, the coefficient estimates of travel time under high-input/rain-fed systems are positive, counter to our expectations. Second, the coefficient estimates of travel time under low-input/rain-fed systems are negative, as expected, but the coefficient is much smaller than that of East Africa. As in East Africa and all Sub-Saharan Africa, travel-time measures have similar elasticities across different travel-time measures: the coefficient estimates of travel time to the nearest city with a population of 25,000, 100,000, and 500,000 and more are -0.9, -1.1, and -1.0, respectively. The impacts of road connectivity on irrigated crop production in West Africa are of similar magnitude, but the impacts of road connectivity on the highinput/high-yield technology adoption in West Africa are insignificant (table 4.8).

One possible explanation for these differences across regions is that road connectivity may show decreasing marginal productivity in crop production: the more densely roads are connected, the smaller the marginal benefits. Since East Africa has less road infrastructure, the (marginal) impacts of new road construction (on crop production) can be higher than those in West Africa, which already has a relatively well-connected road network.

20
23 Does the restricted least squares growth procedure (RLGR) have the desirable welfare properties? To answer this question we utilized (3.4) and (3.5) to obtain the welfare weights: for t>l. These weights are all positive implying that every year's utility has a positive impact on the total welfare. This welfare function is clearly more acceptable. However, weights given to each year's utility are not uniform, it gives least weight to the utility enjoyed by the country in the beginning of the period. The largest weight is given to the income in the most recent year.

The increasing weight growth rate (IWGR) procedure gives (on using (6.7) and (3.7)) the following welfare weights: which implies that only the income of the most recent year gets the positive welfare weight and incomes in all other years receive negative weight. Again, such a welfare function is highly inappropriate.

Finally, we consider the arithmestic mean growth rate (AMGR) procedure. It can be seen that this procedure does not belong to the class of growth rate procedures in (6.6). However, it is easy to show that the welfare function