Assessing Bias and Accuracy in the World Bank-IMF's Debt Sustainability Framework for Low-Income Countries

2014 ◽  
Author(s):  
Andrew Berg ◽  
Enrico Berkes ◽  
Catherine Pattillo ◽  
Andrea Filippo Presbitero ◽  
Yorbol Yakhshilikov
Keyword(s):  
World Bank ◽  
Low Income ◽  
Low Income Countries ◽  
Debt Sustainability ◽  
The World Bank ◽  
The World ◽  
Sustainability Framework

Assessing Bias and Accuracy in the World Bank-IMF's Debt Sustainability Framework for Low-Income Countries

2014 ◽  
Vol 14 (48) ◽  
pp. 1 ◽  
Author(s):  
Andrew Berg ◽  
Enrico Berkes ◽  
Catherine Pattillo ◽  
Andrea Presbitero ◽  
Yorbol Yakhshilikov ◽  
...  
Keyword(s):  
World Bank ◽  
Low Income ◽  
Low Income Countries ◽  
Debt Sustainability ◽  
The World Bank ◽  
The World ◽  
Sustainability Framework

The World Bank and Educational Assistance

2017 ◽  
Author(s):  
D. Brent Edwards ◽  
Inga Storen
Keyword(s):  
Education Reform ◽  
World Bank ◽  
Low Income ◽  
Technical Assistance ◽  
International Political Economy ◽  
Low Income Countries ◽  
Educational Assistance ◽  
Country Level ◽  
The World Bank ◽  
The World

Since the 1950s, the World Bank’s involvement and influence in educational assistance has increased greatly. The World Bank has not only been a key player, but, at times, has been the dominant international organization working with low-income countries to reform their education systems. Given the contributions that education makes to country development, the World Bank works in the realm of education as part of its broad mission to reduce poverty and to increase prosperity. This work takes the form of financing, technical assistance and knowledge production (among others) and occurs at multiple levels, as the World Bank seeks to contribute to country development and to shape the global conversation around the purposes and preferred models of education reform, in addition to engaging in international processes and politics with other multi- and bilateral organizations. The present article examines the work of the World Bank in historical perspective in addition to discussing how the role of this institution has been theorized and research by scholars. Specifically, the first section provides an overview of this institution’s history with a focus on how the leadership, preferred policies, organizational structure, lending, and larger politics to which it responds have changed over time, since the 1940s. Second, the article addresses the ways that the World Bank is conceptualized and approached by scholars of World Culture Theory, international political economy, and international relations. The third section contains a review of research on (a) how the World Bank is involved in educational policy making at the country level, (b) the ways the World Bank engages with civil society and encourages its general participation in educational assistance, (c) what is known about the World Bank in relation to policy implementation, and (d) the production of research in and on the Bank.

scholarly journals The Effect of Globalization on Economic Development Indicators: An Inter-Regional Approach

2020 ◽  
Vol 12 (5) ◽  
pp. 1942 ◽  
Author(s):  
Pedro Antonio Martín Cervantes ◽  
Nuria Rueda López ◽  
Salvador Cruz Rambaud
Keyword(s):  
Economic Development ◽  
World Bank ◽  
Low Income ◽  
Public Expenditure ◽  
Low Income Countries ◽  
Development Indicators ◽  
The World Bank ◽  
The World ◽  
Economic Institute ◽  
Double Character

Background: The analysis of the problems derived from globalization has become one of the most densely studied topics at the beginning of this millennium, as they can have a crucial impact on present and future sustainable development. This paper analyzes the differential patterns of globalization in four worldwide areas predefined by The World Bank (namely, High-, Upper-Middle-, Lower-Middle-, and Low-Income countries). The main objective of this work is to estimate the effect of globalization on some economic development indicators (specifically per capita income and public expenditure on health) in 217 countries over the period 2000–2016. Methods: Our empirical approach is based on the implementation of a novel econometric methodology: The so-called Toda–Yamamoto procedure, which has been used to analyze the possible causal relationships between the involved variables. We employ World Development Indicators, provided by The World Bank, and the KOF Globalization Index, elaborated by the KOF Swiss Economic Institute. Results: The results show that there is a causal relationship in the sense of Granger between globalization and public expenditure on health, except in High-Income countries. This can be interpreted both negatively and positively, confirming the double character of globalization, as indicated by Stiglitz.

Staff Guidance Note on the Application of the Joint Bank-Fund Debt Sustainability Framework for Low-Income Countries

Policy Papers ◽  
2013 ◽  
Vol 2013 (41) ◽  
Author(s):  
Keyword(s):  
International Development ◽  
World Bank ◽  
Low Income ◽  
External Debt ◽  
Low Income Countries ◽  
Debt Sustainability ◽  
Guidance Note ◽  
Bank Staff ◽  
Development Objectives ◽  
Sustainability Framework

Low-income countries (LICs) face significant challenges in meeting their development objectives while at the same time ensuring that their external debt remains sustainable. In April 2005, the Executive Boards of the International Monetary Fund (IMF) and the International Development Association (IDA) endorsed the Debt Sustainability Framework (DSF), a tool developed jointly by IMF and World Bank staff to conduct public and external debt sustainability analysis in low-income countries. The DSF aims to help guide the borrowing decisions of LICs, provide guidance for creditors’ lending and grant allocation decisions, and improve World Bank and IMF assessments and policy advice.

Revisiting the Debt Sustainability Framework for Low-Income Countries

Policy Papers ◽  
2012 ◽  
Vol 2012 (98) ◽  
Author(s):  
Keyword(s):  
World Bank ◽  
Low Income ◽  
External Debt ◽  
Low Income Countries ◽  
Bank Debt ◽  
Debt Sustainability ◽  
Analytical Work ◽  
Grant Allocation ◽  
Sustainability Framework ◽  
Allocation Decisions

Introduced in 2005, the joint IMF-World Bank Debt Sustainability Framework (DSF) is a standardized framework for conducting public and external debt sustainability analysis (DSA) in low-income countries (LICs). It aims to help guide the borrowing decisions of LICs, provide guidance for creditors‘ lending and grant allocation decisions, and improve World Bank and IMF assessments and policy advice. The framework was previously reviewed in 2006 and 2009. This paper provides a comprehensive review of the framework to assess whether it remains adequate in light of changing circumstances in LICs. It reviews the DSF‘s performance to date, presents the results of recent analytical work by IMF and World Banks staffs, and discusses a number of areas in which the framework could be improved.

Review of Low-Income Country Debt Sustainability Framework and Implications of the Multilateral Debt Relief Initiative (MDRI)

Policy Papers ◽  
2006 ◽  
Vol 2006 (13) ◽  
Author(s):  
Keyword(s):  
World Bank ◽  
Low Income ◽  
Debt Relief ◽  
Income Country ◽  
Low Income Countries ◽  
Bank Debt ◽  
Debt Sustainability ◽  
Low Income Country ◽  
Sustainability Framework

This paper reviews the experience with the joint IMF-World Bank Debt Sustainability Framework for low-income countries, including cooperation between the staffs, and highlights the implications of the Multilateral Debt Relief Initiative.

The World Bank: Why It Is Still Needed and Why It Still Disappoints

2016 ◽  
Vol 30 (1) ◽  
pp. 77-94 ◽  
Author(s):  
Martin Ravallion
Keyword(s):  
World Bank ◽  
Low Income ◽  
Poverty Reduction ◽  
Low Income Countries ◽  
Global Poverty ◽  
Global Public Goods ◽  
The Public ◽  
The Past ◽  
The World Bank ◽  
The World

Does the World Bank still have an important role to play? How might it fulfill that role? The paper begins with a brief account of how the Bank works. It then argues that, while the Bank is no longer the primary conduit for capital from high-income to low-income countries, it still has an important role in supplying the public good of development knowledge—a role that is no less pressing today than ever. This argument is not a new one. In 1996, the Bank’s President at the time, James D. Wolfensohn, laid out a vision for the “knowledge bank,” an implicit counterpoint to what can be called the “lending bank.” The paper argues that the past rhetoric of the “knowledge bank” has not matched the reality. An institution such as the World Bank—explicitly committed to global poverty reduction—should be more heavily invested in knowing what is needed in its client countries as well as in international coordination. It should be consistently arguing for well-informed pro-poor policies in its member countries, tailored to the needs of each country, even when such policies are unpopular with the powers-that-be. It should also be using its financial weight, combined with its analytic and convening powers, to support global public goods. In all this, there is a continuing role for lending, but it must be driven by knowledge—both in terms of what gets done and how it is geared to learning. The paper argues that the Bank disappoints in these tasks but that it could perform better.

World Bank may shift global financing model for LICs

2016 ◽  
Keyword(s):  
International Development ◽  
World Bank ◽  
Low Income ◽  
Spillover Effects ◽  
Division Of Labour ◽  
Low Income Countries ◽  
Content Type ◽  
The World Bank ◽  
The World ◽  
New Institutions

Significance The comments come as the World Bank is pressing donors to provide at least 65 billion dollars for the International Development Association (IDA), the Bank's financing arm for low-income countries (LICs), in 2018-21. Impacts Transport, energy and water investments are likely to gain increased World Bank funding under the IDA-plus model. IDA will deepen its role as a lynchpin of international response to fragile state situations that threaten global spillover effects. The World Bank may evolve a new division of labour with the AIIB and other new institutions.

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