Using a political economy approach, the authors analyze the pattern of protection in Mexico's manufacturing sector during the period of trade policy reforms (1985-89), when Mexico experienced significant trade liberalization and an important inflow of foreign direct investment. They take into...

The authors discuss key choices policy makers face about China's pension system in the face of a rapidly aging population. They describe the problems the current pay-as-you-go system faces in the near and long term and simulate policy options for solving those problems. They find that simple...

China's recent industrial growth, a remarkable success story, has been clouded by hundreds of thousands of premature deaths and incidents of serious respiratory illness caused by exposure to industrial air pollution. Seriously contaminated by industrial discharges, many of China's waterways are...

The main constraint on world Bank operations in tax and customs administration is the Bank's inadequate institutional framework for accumulating knowledge from loan operations, concludes this review of the Bank's record on reform of tax systems in the 1990s. The Bank's theoretical basis for...

The authors test several propositions derived by Shleifer and Vishny (1994, 1996) about how privatization and stabilization (hard budget constraints) affect enterprise behavior. They document the changes in financing, employment, and operating efficiency that have occurred in more than 6300...

The paper revisits the siteof a large, World Bank-financed, rural development program in China 10 years after it began and four years after disbursements ended. The program emphasized community participation in multi-sectoral interventions (including farming, animal husbandry, infrastructure and...

The subject of this paper is the agreement reached on July 23, 1989 which offered commercial creditors the choice to exchange old debt instruments for new instruments involving debt relief, but partially secured with collateral; or for unsecured instruments without debt relief, but with a new...

Many manufacturers in developing countries produce their own electricity because the public supply is unavailable or unreliable. The authors develop a model of the firm in which electricity is produced internally, with scale economies. The model explains the observed behavior (prevalent in...

As an essential part of a nation's financial sector infrastructure, securities clearance, and settlement systems must be closely integrated with national payment systems, so that safety, soundness, certainty, and efficiency can be achieved at a cost acceptable to all participants. Central banks...

The main objectives of the National Workshop on Micro-finance for Infrastructure : Recent Experiences were: to share current experiences that highlight the growing sector of micro-finance in infrastructure; to identify sector gaps, and challenges to effective community infrastructure investments;...