Working Papers by Macroeconomics and Growth Research Staff ...pubdocs.worldbank.org/en/236061518117608338/WPS... · Industrial Policies vs Public Goods under Asymmetric Information

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2018

Capital Inflows, Equity Issuance Activity, and Corporate Investment Charles W. Calomiris, Mauricio Larrain, and Sergio L. Schmukler World Bank Policy Research Working Paper 8405, April 2018

Closer, but No Cigar: Intergenerational Mobility across Caste Groups in India Rishabh Sinha World Bank Policy Research Working Paper 8401, April 2018

Resource Misallocation and Productivity Gaps in Malaysia Lay Lian Chuah, Norman V. Loayza, and Ha Nguyen World Bank Policy Research Working Paper 8368, March 2018

Impact of U.S. Market Access on Local Labor Markets in Vietnam Trung X. Hoang and Ha Nguyen World Bank Policy Research Working Paper 8366, March 2018

Size-Dependent Tax Enforcement and Compliance: Global Evidence and Aggregate Implications Pierre Bachas, Roberto N. Fattal Jaef, and Anders Jensen World Bank Policy Research Working Paper 8363, March 2018

Gross Capital Flows, Common Factors, and the Global Financial Cycle Luis-Diego Barrot and Luis Serven World Bank Policy Research Working Paper 8354, February 2018 The Making of Behavioral Development Economics Allison Demeritt and Karla Hoff World Bank Policy Research Working Paper 8317, January 2018 2017 The Whys of Social Exclusion: Insights from Behavioral Economics Karla Hoff and James Walsh World Bank Policy Research Working Paper 8267, December 2017 Korea's Growth Experience and Long-Term Growth Model Hyeok Jeong World Bank Policy Research Working Paper 8240, November 2017

Working Papers by Macroeconomics and Growth Research Staff (2041 - present)

The Policy Research Working Paper Series disseminates findings of work in progress to encourage the exchange of ideas about development issues. These papers were produced by the staff and consultants of the Macroeconomics and Growth unit in the Development Research Group of the World Bank.

http://documents.worldbank.org/curated/en/470511523557571868/Capital-inflows-equity-issuance-activity-and-corporate-investment

http://documents.worldbank.org/curated/en/737371523464777672/Closer-but-no-cigar-intergenerational-mobility-across-caste-groups-in-India?cid=DEC_PolicyResearchEN_D_INT

http://documents.worldbank.org/curated/en/916081521465294530/Resource-misallocation-and-productivity-gaps-in-Malaysia

http://documents.worldbank.org/curated/en/374231520955330537/Impact-of-U-S-market-access-on-local-labor-markets-in-Vietnam?cid=DEC_PolicyResearchEN_D_INT

http://documents.worldbank.org/curated/en/768971520865898064/Size-dependent-tax-enforcement-and-compliance-global-evidence-and-aggregate-implications

http://documents.worldbank.org/curated/en/550301519324136710/Gross-capital-flows-common-factors-and-the-global-financial-cycle

http://documents.worldbank.org/curated/en/708521516820237922/The-making-of-behavioral-development-economics

http://documents.worldbank.org/curated/en/708521516820237922/The-making-of-behavioral-development-economics

http://documents.worldbank.org/curated/en/637511513001943873/The-whys-of-social-exclusion-insights-from-behavioral-economics

http://documents.worldbank.org/curated/en/721471510252769303/Koreas-growth-experience-and-long-term-growth-model

http://www.worldbank.org/en/research/brief/macroeconomics-growth

http://www.worldbank.org/en/about/unit/unit-dec#4

http://www.worldbank.org/en/about/unit/unit-dec#4

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Financial Development, Growth, and Crisis: Is There a Trade-Off? Norman Loayza, Amine Ouazad, and Romain Ranciere World Bank Policy Research Working Paper 8237, November 2017 Political Economy of Reform Stuti Khemani World Bank Policy Research Working Paper 8224, October 2017 Corporate Debt Maturity in Developing Countries: Sources of Long- and Short-Termism Juan J. Cortina, Tatiana Didier, and Sergio L. Schmukler Policy Research Working Paper 8222, October 2017 Demand and Supply Curves in Political Markets: Understanding the Problem of Public Goods and Why Governments Fail Them Stuti Khemani World Bank Policy Research Working Paper 8213, October 2017 Financial Globalization: A Glass Half Empty? Facundo Abraham and Sergio L. Schmukler World Bank Policy Research Working Paper 8194, September 2017 When is the Government Transfer Multiplier Large? Eric Giambattista and Steven Pennings World Bank Policy Research Working Paper 8184, September 2017 Assessing Forecast Uncertainty: An Information Bayesian Approach Fabian Mendez-Ramos World Bank Policy Research Working Paper 8165, August 2017 Taxation without Representation? Experimental Evidence from Ghana and Uganda on Citizen Action toward Taxes, Oil, and Aid Brandon de la Cuesta, Helen V. Milner, Daniel Nielson, and Stephen Knack World Bank Policy Research Working Paper 8137, July 2017 Approximating Income Distribution Dynamics Using Aggregate Data Aart Kraay and Roy Van der Weide World Bank Policy Research Working Paper 8123, June 2017 Employment Multipliers over the Business Cycle Ha Nguyen and Jiaming Soh World Bank Policy Research Working Paper 8105, June 2017 Deterring Kickbacks and Encouraging Entry in Public Procurement Markets: Evidence from Firm Surveys in 88 Developing Countries Stephen Knack, Nataliya Biletska, and Kanishka Kacker World Bank Policy Research Working Paper 8078, May 2017 Predicting Conflict Bledi Celiku and Aart Kraay World Bank Policy Research Working paper 8075, May 2017

http://documents.worldbank.org/curated/en/512501510080248213/Financial-development-growth-and-crisis-is-there-a-trade-off

http://documents.worldbank.org/curated/en/290071508764607858/Political-economy-of-reform

http://documents.worldbank.org/curated/en/795161508437504068/Corporate-debt-maturity-in-developing-countries-sources-of-long-and-short-termism

http://documents.worldbank.org/curated/en/688181507656703024/Demand-and-supply-curves-in-political-markets-understanding-the-problem-of-public-goods-and-why-governments-fail-them


http://documents.worldbank.org/curated/en/990491505323961395/Financial-globalization-a-glass-half-empty

http://documents.worldbank.org/curated/en/786831504723306335/When-is-the-government-transfer-multiplier-large

http://documents.worldbank.org/curated/en/802551502718519493/Assessing-forecast-uncertainty-an-information-Bayesian-approach

http://documents.worldbank.org/curated/en/572791499277180729/Taxation-without-representation-experimental-evidence-from-Ghana-and-Uganda-on-citizen-action-toward-taxes-oil-and-aid


http://documents.worldbank.org/curated/en/807641498574886507/Approximating-income-distribution-dynamics-using-aggregate-data

http://documents.worldbank.org/curated/en/186281497883831608/Employment-multipliers-over-the-business-cycle


http://documents.worldbank.org/curated/en/817871496169519447/Deterring-kickbacks-and-encouraging-entry-in-public-procurement-markets-evidence-from-firm-surveys-in-88-developing-countries


http://documents.worldbank.org/curated/en/619721495821941125/Predicting-conflict

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Industrial Policies vs Public Goods under Asymmetric Information Constantino Hevia, Norman Loayza, and Claudia Meza-Cuadra World Bank Policy Research Working Paper 8052, May 2017 Consumption Smoothing and Shock Persistence: Optimal Simple Fiscal Rules for Commodity Exporters Arthur Mendes and Steven Pennings World Bank Policy Research Working Paper 8035, April 2017 Entry and Exit, Multi-Product Firms, and Allocative Distortions Roberto N. Fattal Jaef World Bank Policy Research Working Paper 8023, April 2017 Is There Enough Redistribution? Maya Eden World Bank Policy Research Working Paper 8003, March 2017 Impact of Oil Price Fluctuations on Financial Markets Since 2014 Ha Nguyen, Huong Nguyen, and Anh Pham World Bank Policy Research Working Paper 7957, January 2017 Long-Term Growth Scenarios for Bangladesh Rishabh Sinha World Bank Policy Research Working Paper 7952, January 2017 Taxing the Good? Distortions, Misallocation, and Productivity in Sub-Saharan Africa Xavier Cirera, Roberto N. Fattal Jaef, and Hibret B. Maemir World Bank Policy Research Working Paper 7949, January 2017 2016 Caste System Karla Hoff World Bank Policy Research Working Paper 7929, December 2016 Pass-through of Competitors' Exchange Rates to US Import and Producer Prices Steven Pennings World Bank Policy Research Working Paper 7926, December 2016 Assessing the Degree of International Consumption Risk Sharing Constantino Hevia and Luis Servén World Bank Policy Research Working Paper 7867, October 2016 Informality in the Process of Development and Growth | Toolkit for Informality Scenario Analysis Norman V. Loayza World Bank Policy Research Working Paper 7858, October 2016

http://documents.worldbank.org/curated/en/343061493917982244/Industrial-policies-vs-public-goods-under-asymmetric-information

http://documents.worldbank.org/curated/en/384311493124785251/Consumption-smoothing-and-shock-persistence-optimal-simple-fiscal-rules-for-commodity


http://documents.worldbank.org/curated/en/622581491318574397/Entry-and-exit-multi-product-firms-and-allocative-distortions

http://documents.worldbank.org/curated/en/487981489430080235/Is-there-enough-redistribution

http://documents.worldbank.org/curated/en/357321485790398488/Impact-of-oil-price-fluctuations-on-financial-markets-since-2014


http://documents.worldbank.org/curated/en/131961485274754618/Long-term-growth-scenarios-for-Bangladesh

http://documents.worldbank.org/curated/en/492891485178180375/Taxing-the-good-distortions-misallocation-and-productivity-in-Sub-Saharan-Africa

http://documents.worldbank.org/curated/en/452461482847661084/Caste-system?cid=DEC_PolicyResearchEN_D_INT

http://documents.worldbank.org/curated/en/515151482175641851/Pass-through-of-competitors-exchange-rates-to-us-import-and-producer-prices

http://documents.worldbank.org/curated/en/686991476883759248/Assessing-the-degree-of-international-consumption-risk-sharing

http://documents.worldbank.org/curated/en/998481476291165295/Informality-in-the-process-of-development-and-growth

http://www.worldbank.org/en/research/brief/a-toolkit-for-informality-scenario-analysis


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Can the Culture of Honor Lead to Inefficient Conventions? Experimental evidence from India Benjamin Brooks, Karla Hoff, and Priyanka Pandey World Bank Policy Research Working Paper 7829, September 2016 How Long Is the Maturity of Corporate Borrowing? Evidence from Bond and Loan Issuances across Markets Juan Jose Cortina-Lorente, Tatiana Didier, and Sergio L. Schmukler World Bank Policy Research Working Paper 7815, September 2016 International Financial Integration of East Asia and Pacific Tatiana Didier, Ruth Llovet Montanes, and Sergio L. Schmukler World Bank Policy Researc Working Paper 7772, July 2016 Firm Financing and Growth in the Arab Region Juan Jose Cortina Lorente, Soha Ismail, and Sergio L. Schmukler World Bank Policy Research Working Paper 7756, July 2016 Euro Currency Risk and the Geography of Debt Flows to Peripheral European Monetary Union Members Eylem Ersal-Kiziler and Ha Nguyen World Bank Policy Research Working Paper 7738, June 2016 Sectoral Productivity Gaps and Aggregate Production Rishabh Sinha World Bank Policy Research Working Paper 7737, June 2016 Openness, Specialization, and the External Vulnerability of Developing Countries Luis-Diego Barrot, César Calderón, and Luis Servén Policy Research Working Paper 7711, June 2016 Unemployment and Mortality: Evidence from the Great Recession Ha Nguyen and Huong Nguyen World Bank Policy Research Working Paper 7603, March 2016 The Week Maya Eden World Bank Policy Research Working Paper 7598, March 2016 Illicit Activity and Money Laundering from an Economic Growth Perspective: A Model and an Application to Colombia Edgar Villa, Martha A. Misas, and Norman V. Loayza World Bank Policy Research Working Paper 7578, February 2016 The Welfare Cost of Inflation and the Regulations of Money Substitutes Benjamin Eden and Maya Eden Worldl Bank Policy Research Working Paper 7553, February 2016 The Great Recession and Job Loss Spillovers: Impact of Tradable Employment Shocks on Supporting Services

http://documents.worldbank.org/curated/en/157881474377387220/Can-the-culture-of-honor-lead-to-inefficient-conventions-experimental-evidence-from-India

http://documents.worldbank.org/curated/en/693621473341481743/How-long-is-the-maturity-of-corporate-borrowing-evidence-from-bond-and-loan-issuances-across-markets


http://documents.worldbank.org/curated/en/2016/07/26604601/international-financial-integration-east-asia-pacific

http://documents.worldbank.org/curated/en/2016/07/26584763/firm-financing-growth-arab-region

http://documents.worldbank.org/curated/en/2016/06/26541999/euro-currency-risk-geography-debt-flows-peripheral-european-monetary-union-members


http://documents.worldbank.org/curated/en/2016/06/26538638/sectoral-productivity-gaps-aggregate-productivity?cid=DEC_PolicyRehttp://documents.worldbank.org/curated/en/2016/06/26538638/sectoral-productivity-gaps-aggregate-productivity

http://documents.worldbank.org/curated/en/2016/06/26506942/openness-specialization-external-vulnerability-developing-countries

http://documents.worldbank.org/curated/en/2016/03/26077059/unemployment-mortality-evidence-great-recession

http://documents.worldbank.org/curated/en/2016/03/26067880/week

http://documents.worldbank.org/curated/en/2016/02/25975794/illicit-activity-money-laundering-economic-growth-perspective-model-application-colombia


http://documents.worldbank.org/curated/en/2016/02/25861087/welfare-cost-inflation-regulations-money-substitutes

http://documents.worldbank.org/curated/en/2016/01/25818518/great-recession-job-loss-spillovers-impact-tradable-employment-shocks-supporting-services


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Ha Nguyen and Shawheen Rezaei World Bank Policy Research Working Paper 7543, January 2016 Striving for Balance in Economics: Towards a Theory of the Social Determination of Behavior Karla Hoff and Joseph E. Stiglitz World Bank Policy Research Working Paper 7537, January 2016 2015 Weak Instruments in Growth Regressions: Implications for Recent Cross-Country Evidence on Inequality and Growth Aart Kraay World Bank Policy Research Working Paper 7494, November 2015 On the Welfare Implications of Automation Maya Eden and Paul Gaggl World Bank Policy Research Working Paper 7487, November 2015 Demand-Driven Propagation: Evidence from the Great Recession Ha Nguyen World Bank Policy Research Working Paper 7456, October 2015 Capital Market Financing, Firm Growth, and Firm Size Distribution Tatiana Didier, Ross Levine, and Sergio L. Schmukler World Bank Policy Research Working Paper 7353, July 2015 Do Poor Countries Really Need More IT? The Role of Relative Prices and Industrial Composition Maya Eden and Paul Gaggl World Bank Policy Research Working Paper 7352, June 2015 Do Capital Inflows Boost Growth in Developing Countries? Evidence from Sub-Saharan Africa César Calderón and Ha Nguyen World Bank Policy Research Working Paper 7298, June 2015 Doing the Survey Two-Step: The Effects of Reticence on Estimates of Corruption in Two-Stage Survey Questions Nona Karalashvili, Aart Kraay, and Peter Murrell World Bank Policy Research Working Paper 7276, May 2015 Good Countries or Good Projects? Comparing Macro and Micro Correlates of World Bank and Asian Development Bank Project Performance David Bulman, Walter Kolkma, and Aart Kraay World Bank Research Policy Working Paper 7245, April 2015 Behavioral Economics and Social Exclusion: Can Interventions Overcome Prejudice? Karla Hoff World Bank Policy Research Working Paper 7198, February 2015 “Small Miracles”—Behavioral Insights to Improve Development Policy: World Development Report 2015

http://documents.worldbank.org/curated/en/2016/01/25814159/striving-balance-economics-towards-theory-social-determination-behavior

http://documents.worldbank.org/curated/en/2015/11/25462798/weak-instruments-growth-regressions-implications-recent-cross-country-evidence-inequality-growth


http://documents.worldbank.org/curated/en/2015/11/25380579/welfare-implications-automation

http://documents.worldbank.org/curated/en/2015/10/25202680/demand-driven-propagation-evidence-great-recession

http://documents.worldbank.org/curated/en/2015/07/24744318/capital-market-financing-firm-growth-firm-size-distribution

http://documents.worldbank.org/curated/en/2015/06/24738088/poor-countries-really-need-more-role-relative-prices-industrial-composition

http://documents.worldbank.org/curated/en/2015/06/24604145/capital-inflows-boost-growth-developing-countries-evidence-sub-saharan-africa

http://documents.worldbank.org/curated/en/2015/05/24531877/doing-survey-two-step-effects-reticence-estimates-corruption-two-stage-survey-questions


http://documents.worldbank.org/curated/en/2015/04/24407929/good-countries-or-good-projects-comparing-macro-micro-correlates-world-bank-asian-development-bank-project-performance


http://documents.worldbank.org/curated/en/2015/02/24021122/behavioral-economics-social-exclusion-can-interventions-overcome-prejudice?cid=DEC_PolicyResearchEN_D_INT

http://documents.worldbank.org/curated/en/2015/02/24021435/small-miracles-behavioral-insights-improve-development-policy-world-development-report-2015?cid=DEC_PolicyResearchEN_D_INT


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Allison Demeritt and Karla Hoff World Bank Policy Research Working Paper 7197, February 2015 The Changing Patterns of Financial Integration in Latin America Tatiana Didier, Matias Moretti, Sergio L. Schmukler World Bank Policy Research Working Paper 7190, February 2015 2014 Redistribution and Inequality Philip Keefer and Branko Milanovic World Bank Policy Research Working Paper 7129, December 2014 Transitioning from Low-Income Growth to High-Income Growth: Is There a Middle Income Trap? David Bulman, Maya Eden, Ha Nguyen World Bank Policy Research Working Paper 7104, November 2014 Testing Weak Exogeneity in Cointegrated Panels Enrique Moral-Benito and Luis Serven World Bank Policy Research Working Paper 7045, September 2014 Infrastructure, Growth, and Inequality: An Overview César Calderón and Luis Servén World Bank Policy Research Working Paper 7034, September 2014 Predicting World Bank Project Outcome Ratings Patricia Geli, Aart Kraay, and Hoveida Nobakht World Bank Policy Research Working Paper 7001, July 2014 Inflation and Indivisible Investment in Developing Economies Maya Eden and Ha Nguyen World Bank Policy Research Working Paper 6972, July 2014 Radio’s Impact on Preferences for Patronage Benefits Philip Keefer and Stuti Khemani World Bank Policy Research Working Paper 6932, June 2014 Comparative Advantage, International Trade, and Fertility Quy-Toan Do, Andrei Levchenko, Claudio Raddatz World Bank Policy Research Working Paper 6930, June 2014 Institutional Investors and Long-term Investment: Evidence from Chile Luis Opazo, Claudio Raddatz, and Sergio L. Schmukler World Bank Policy Research Working Paper 6922, June 2014 Institutions and Firms’ Return to Innovation: Evidence from the World Bank Enterprise Survey Ha Nguyen and Patricio A. Jaramillo World Bank Policy Research Working Paper 6918, June 2014

http://documents.worldbank.org/curated/en/2015/02/23962800/changing-patterns-financial-integration-latin-america

http://documents.worldbank.org/curated/en/2014/12/20464333/party-age-party-color-new-results-political-economy-redistribution-inequality?cid=DEC_PolicyResearchEN_D_INT

http://documents.worldbank.org/curated/en/2014/11/20373154/transitioning-low-income-growth-high-income-growth-middle-income-trap


http://documents.worldbank.org/curated/en/2014/09/20230197/testing-weak-exogeneity-cointegrated-panels?cid=DEC_PolicyResearchEN_D_INT

http://documents.worldbank.org/curated/en/2014/09/20210994/infrastructure-growth-inequality-overview?cid=DEC_PolicyResearchEN_D_INT

http://econ.worldbank.org/external/default/main?pagePK=64165259&theSitePK=469382&piPK=64165421&menuPK=64166093&entityID=000158349_20140812103814&cid=DEC_PolicyResearchEN_D_INT

http://documents.worldbank.org/curated/en/2014/07/19877601/inflation-indivisible-investment-developing-economies

http://documents.worldbank.org/curated/en/2014/06/19700654/radios-impact-preferences-patronage-benefits


http://documents.worldbank.org/curated/en/2014/06/19696314/comparative-advantage-international-trade-fertility

http://documents.worldbank.org/curated/en/2014/06/19680163/institutional-investors-long-term-investment-evidence-chile

http://documents.worldbank.org/curated/en/2014/06/19654205/institutions-firms-return-innovation-evidence-world-bank-enterprise-survey

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International Asset Allocations and Capital Flows: The Benchmark Effect Claudio Raddatz, Sergio L. Schmukler, and Tomás Williams World Bank Policy Research Working Paper 6866, May 2014 Growth, Inequality, and Social Welfare: Cross-Country Evidence David Dollar, Tatjana Kleineberg, and Aart Kraay World Bank Policy Research Working Paper 6842, April 2014 Do Poverty Traps Exist? Aart Kraay and David McKenzie World Bank Policy Research Working Paper 6835, April 2014 Convergence to the Managerial Frontier William F. Maloney and Mauricio Sarrias World Bank Policy Research Working Paper 6822, March 2014 Engineers, Innovative Capacity and Development in the Americas William F. Maloney and Felipe Valencia Caicedo World Bank Policy Research Working Paper 6814, March 2014 Why Don't Poor Countries Do R&D? Edwin Goñi and William F. Maloney World Bank Policy Research Working Paper 6811, March 2014 "Crowding in" and the Returns to Government Investment in Low-Income Countries Maya Eden and Aart Kraay World Bank Policy Research Working Paper 6781, February 2014 Financial Development in Asia: Beyond Aggregate Indicators Tatiana Didier and Sergio L. Schmukler World bank Policy Research Working Paper 6761, January 2014 Corporate Debt Maturity in Developing Countries: Sources of Long- and Short-Termism Juan J. Cortina, Tatiana Didier, and Sergio L. Schmukler Policy Research Working Paper 8222, October 2017 Demand and Supply Curves in Political Markets: Understanding the Problem of Public Goods and Why Governments Fail Them Stuti Khemani World Bank Policy Research Working Paper 8213, October 2017 Financial Globalization: A Glass Half Empty? Facundo Abraham and Sergio L. Schmukler World Bank Policy Research Working Paper 8194, September 2017 When is the Government Transfer Multiplier Large? Eric Giambattista and Steven Pennings World Bank Policy Research Working Paper 8184, September 2017

http://documents.worldbank.org/curated/en/2014/05/19496736/international-asset-allocations-capital-flows-benchmark-effect

http://documents.worldbank.org/curated/en/2014/04/19431734/growth-inequality-social-welfare-cross-country-evidence

http://documents.worldbank.org/curated/en/2014/04/19354776/poverty-traps-exist

http://documents.worldbank.org/curated/en/2014/03/19305148/convergence-managerial-frontier

http://documents.worldbank.org/curated/en/2014/03/19292695/engineers-innovative-capacity-development-americas

http://documents.worldbank.org/curated/en/2014/03/19266897/dont-poor-countries-rd

http://documents.worldbank.org/curated/en/2014/02/19005742/crowding-returns-government-investment-low-income-countries

http://documents.worldbank.org/curated/en/2014/01/18860706/financial-development-asia-beyond-aggregate-indicators






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Assessing Forecast Uncertainty: An Information Bayesian Approach Fabian Mendez-Ramos World Bank Policy Research Working Paper 8165, August 2017 Taxation without Representation? Experimental Evidence from Ghana and Uganda on Citizen Action toward Taxes, Oil, and Aid Brandon de la Cuesta, Helen V. Milner, Daniel Nielson, and Stephen Knack World Bank Policy Research Working Paper 8137, July 2017 Approximating Income Distribution Dynamics Using Aggregate Data Aart Kraay and Roy Van der Weide World Bank Policy Research Working Paper 8123, June 2017 Employment Multipliers over the Business Cycle Ha Nguyen and Jiaming Soh World Bank Policy Research Working Paper 8105, June 2017 Deterring Kickbacks and Encouraging Entry in Public Procurement Markets: Evidence from Firm Surveys in 88 Developing Countries Stephen Knack, Nataliya Biletska, and Kanishka Kacker World Bank Policy Research Working Paper 8078, May 2017 Predicting Conflict Bledi Celiku and Aart Kraay World Bank Policy Research Working paper 8075, May 2017 Industrial Policies vs Public Goods under Asymmetric Information Constantino Hevia, Norman Loayza, and Claudia Meza-Cuadra World Bank Policy Research Working Paper 8052, May 2017 Consumption Smoothing and Shock Persistence: Optimal Simple Fiscal Rules for Commodity Exporters Arthur Mendes and Steven Pennings World Bank Policy Research Working Paper 8035, April 2017 Entry and Exit, Multi-Product Firms, and Allocative Distortions Roberto N. Fattal Jaef World Bank Policy Research Working Paper 8023, April 2017 Is There Enough Redistribution? Maya Eden World Bank Policy Research Working Paper 8003, March 2017 Impact of Oil Price Fluctuations on Financial Markets Since 2014 Ha Nguyen, Huong Nguyen, and Anh Pham World Bank Policy Research Working Paper 7957, January 2017 Long-Term Growth Scenarios for Bangladesh Rishabh Sinha World Bank Policy Research Working Paper 7952, January 2017


















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Taxing the Good? Distortions, Misallocation, and Productivity in Sub-Saharan Africa Xavier Cirera, Roberto N. Fattal Jaef, and Hibret B. Maemir World Bank Policy Research Working Paper 7949, January 2017 2016 Caste System Karla Hoff World Bank Policy Research Working Paper 7929, December 2016 Pass-through of Competitors' Exchange Rates to US Import and Producer Prices Steven Pennings World Bank Policy Research Working Paper 7926, December 2016 Assessing the Degree of International Consumption Risk Sharing Constantino Hevia and Luis Servén World Bank Policy Research Working Paper 7867, October 2016 Informality in the Process of Development and Growth | Toolkit for Informality Scenario Analysis Norman V. Loayza World Bank Policy Research Working Paper 7858, October 2016 Can the Culture of Honor Lead to Inefficient Conventions? Experimental evidence from India Benjamin Brooks, Karla Hoff, and Priyanka Pandey World Bank Policy Research Working Paper 7829, September 2016 How Long Is the Maturity of Corporate Borrowing? Evidence from Bond and Loan Issuances across Markets Juan Jose Cortina-Lorente, Tatiana Didier, and Sergio L. Schmukler World Bank Policy Research Working Paper 7815, September 2016 International Financial Integration of East Asia and Pacific Tatiana Didier, Ruth Llovet Montanes, and Sergio L. Schmukler World Bank Policy Researc Working Paper 7772, July 2016 Firm Financing and Growth in the Arab Region Juan Jose Cortina Lorente, Soha Ismail, and Sergio L. Schmukler World Bank Policy Research Working Paper 7756, July 2016 Euro Currency Risk and the Geography of Debt Flows to Peripheral European Monetary Union Members Eylem Ersal-Kiziler and Ha Nguyen World Bank Policy Research Working Paper 7738, June 2016 Sectoral Productivity Gaps and Aggregate Production Rishabh Sinha World Bank Policy Research Working Paper 7737, June 2016
















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Openness, Specialization, and the External Vulnerability of Developing Countries Luis-Diego Barrot, César Calderón, and Luis Servén Policy Research Working Paper 7711, June 2016 Unemployment and Mortality: Evidence from the Great Recession Ha Nguyen and Huong Nguyen World Bank Policy Research Working Paper 7603, March 2016 The Week Maya Eden World Bank Policy Research Working Paper 7598, March 2016 Illicit Activity and Money Laundering from an Economic Growth Perspective: A Model and an Application to Colombia Edgar Villa, Martha A. Misas, and Norman V. Loayza World Bank Policy Research Working Paper 7578, February 2016 The Welfare Cost of Inflation and the Regulations of Money Substitutes Benjamin Eden and Maya Eden Worldl Bank Policy Research Working Paper 7553, February 2016 The Great Recession and Job Loss Spillovers: Impact of Tradable Employment Shocks on Supporting Services Ha Nguyen and Shawheen Rezaei World Bank Policy Research Working Paper 7543, January 2016 Striving for Balance in Economics: Towards a Theory of the Social Determination of Behavior Karla Hoff and Joseph E. Stiglitz World Bank Policy Research Working Paper 7537, January 2016 2015 Weak Instruments in Growth Regressions: Implications for Recent Cross-Country Evidence on Inequality and Growth Aart Kraay World Bank Policy Research Working Paper 7494, November 2015 On the Welfare Implications of Automation Maya Eden and Paul Gaggl World Bank Policy Research Working Paper 7487, November 2015 Demand-Driven Propagation: Evidence from the Great Recession Ha Nguyen World Bank Policy Research Working Paper 7456, October 2015 Capital Market Financing, Firm Growth, and Firm Size Distribution Tatiana Didier, Ross Levine, and Sergio L. Schmukler World Bank Policy Research Working Paper 7353, July 2015















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Do Poor Countries Really Need More IT? The Role of Relative Prices and Industrial Composition Maya Eden and Paul Gaggl World Bank Policy Research Working Paper 7352, June 2015 Do Capital Inflows Boost Growth in Developing Countries? Evidence from Sub-Saharan Africa César Calderón and Ha Nguyen World Bank Policy Research Working Paper 7298, June 2015 Doing the Survey Two-Step: The Effects of Reticence on Estimates of Corruption in Two-Stage Survey Questions Nona Karalashvili, Aart Kraay, and Peter Murrell World Bank Policy Research Working Paper 7276, May 2015 Good Countries or Good Projects? Comparing Macro and Micro Correlates of World Bank and Asian Development Bank Project Performance David Bulman, Walter Kolkma, and Aart Kraay World Bank Research Policy Working Paper 7245, April 2015 Behavioral Economics and Social Exclusion: Can Interventions Overcome Prejudice? Karla Hoff World Bank Policy Research Working Paper 7198, February 2015 “Small Miracles”—Behavioral Insights to Improve Development Policy: World Development Report 2015 Allison Demeritt and Karla Hoff World Bank Policy Research Working Paper 7197, February 2015 The Changing Patterns of Financial Integration in Latin America Tatiana Didier, Matias Moretti, Sergio L. Schmukler World Bank Policy Research Working Paper 7190, February 2015 2014 Redistribution and Inequality Philip Keefer and Branko Milanovic World Bank Policy Research Working Paper 7129, December 2014 Transitioning from Low-Income Growth to High-Income Growth: Is There a Middle Income Trap? David Bulman, Maya Eden, Ha Nguyen World Bank Policy Research Working Paper 7104, November 2014 Testing Weak Exogeneity in Cointegrated Panels Enrique Moral-Benito and Luis Serven World Bank Policy Research Working Paper 7045, September 2014 Infrastructure, Growth, and Inequality: An Overview César Calderón and Luis Servén World Bank Policy Research Working Paper 7034, September 2014
















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Predicting World Bank Project Outcome Ratings Patricia Geli, Aart Kraay, and Hoveida Nobakht World Bank Policy Research Working Paper 7001, July 2014 Inflation and Indivisible Investment in Developing Economies Maya Eden and Ha Nguyen World Bank Policy Research Working Paper 6972, July 2014 Radio’s Impact on Preferences for Patronage Benefits Philip Keefer and Stuti Khemani World Bank Policy Research Working Paper 6932, June 2014 Comparative Advantage, International Trade, and Fertility Quy-Toan Do, Andrei Levchenko, Claudio Raddatz World Bank Policy Research Working Paper 6930, June 2014 Institutional Investors and Long-term Investment: Evidence from Chile Luis Opazo, Claudio Raddatz, and Sergio L. Schmukler World Bank Policy Research Working Paper 6922, June 2014 Institutions and Firms’ Return to Innovation: Evidence from the World Bank Enterprise Survey Ha Nguyen and Patricio A. Jaramillo World Bank Policy Research Working Paper 6918, June 2014 International Asset Allocations and Capital Flows: The Benchmark Effect Claudio Raddatz, Sergio L. Schmukler, and Tomás Williams World Bank Policy Research Working Paper 6866, May 2014 Growth, Inequality, and Social Welfare: Cross-Country Evidence David Dollar, Tatjana Kleineberg, and Aart Kraay World Bank Policy Research Working Paper 6842, April 2014 Do Poverty Traps Exist? Aart Kraay and David McKenzie World Bank Policy Research Working Paper 6835, April 2014 Convergence to the Managerial Frontier William F. Maloney and Mauricio Sarrias World Bank Policy Research Working Paper 6822, March 2014 Engineers, Innovative Capacity and Development in the Americas William F. Maloney and Felipe Valencia Caicedo World Bank Policy Research Working Paper 6814, March 2014 Why Don't Poor Countries Do R&D? Edwin Goñi and William F. Maloney World Bank Policy Research Working Paper 6811, March 2014














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"Crowding in" and the Returns to Government Investment in Low-Income Countries Maya Eden and Aart Kraay World Bank Policy Research Working Paper 6781, February 2014 Financial Development in Asia: Beyond Aggregate Indicators Tatiana Didier and Sergio L. Schmukler World bank Policy Research Working Paper 6761, January 2014 Corporate Debt Maturity in Developing Countries: Sources of Long- and Short-Termism Juan J. Cortina, Tatiana Didier, and Sergio L. Schmukler Policy Research Working Paper 8222, October 2017 Demand and Supply Curves in Political Markets: Understanding the Problem of Public Goods and Why Governments Fail Them Stuti Khemani World Bank Policy Research Working Paper 8213, October 2017 Financial Globalization: A Glass Half Empty? Facundo Abraham and Sergio L. Schmukler World Bank Policy Research Working Paper 8194, September 2017 When is the Government Transfer Multiplier Large? Eric Giambattista and Steven Pennings World Bank Policy Research Working Paper 8184, September 2017 Assessing Forecast Uncertainty: An Information Bayesian Approach Fabian Mendez-Ramos World Bank Policy Research Working Paper 8165, August 2017 Taxation without Representation? Experimental Evidence from Ghana and Uganda on Citizen Action toward Taxes, Oil, and Aid Brandon de la Cuesta, Helen V. Milner, Daniel Nielson, and Stephen Knack World Bank Policy Research Working Paper 8137, July 2017 Approximating Income Distribution Dynamics Using Aggregate Data Aart Kraay and Roy Van der Weide World Bank Policy Research Working Paper 8123, June 2017 Employment Multipliers over the Business Cycle Ha Nguyen and Jiaming Soh World Bank Policy Research Working Paper 8105, June 2017 Deterring Kickbacks and Encouraging Entry in Public Procurement Markets: Evidence from Firm Surveys in 88 Developing Countries Stephen Knack, Nataliya Biletska, and Kanishka Kacker World Bank Policy Research Working Paper 8078, May 2017 Predicting Conflict Bledi Celiku and Aart Kraay World Bank Policy Research Working paper 8075, May 2017

















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Industrial Policies vs Public Goods under Asymmetric Information Constantino Hevia, Norman Loayza, and Claudia Meza-Cuadra World Bank Policy Research Working Paper 8052, May 2017 Consumption Smoothing and Shock Persistence: Optimal Simple Fiscal Rules for Commodity Exporters Arthur Mendes and Steven Pennings World Bank Policy Research Working Paper 8035, April 2017 Entry and Exit, Multi-Product Firms, and Allocative Distortions Roberto N. Fattal Jaef World Bank Policy Research Working Paper 8023, April 2017 Is There Enough Redistribution? Maya Eden World Bank Policy Research Working Paper 8003, March 2017 Impact of Oil Price Fluctuations on Financial Markets Since 2014 Ha Nguyen, Huong Nguyen, and Anh Pham World Bank Policy Research Working Paper 7957, January 2017 Long-Term Growth Scenarios for Bangladesh Rishabh Sinha World Bank Policy Research Working Paper 7952, January 2017 Taxing the Good? Distortions, Misallocation, and Productivity in Sub-Saharan Africa Xavier Cirera, Roberto N. Fattal Jaef, and Hibret B. Maemir World Bank Policy Research Working Paper 7949, January 2017 2016 Caste System Karla Hoff World Bank Policy Research Working Paper 7929, December 2016 Pass-through of Competitors' Exchange Rates to US Import and Producer Prices Steven Pennings World Bank Policy Research Working Paper 7926, December 2016 Assessing the Degree of International Consumption Risk Sharing Constantino Hevia and Luis Servén World Bank Policy Research Working Paper 7867, October 2016 Informality in the Process of Development and Growth | Toolkit for Informality Scenario Analysis Norman V. Loayza World Bank Policy Research Working Paper 7858, October 2016
















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Can the Culture of Honor Lead to Inefficient Conventions? Experimental evidence from India Benjamin Brooks, Karla Hoff, and Priyanka Pandey World Bank Policy Research Working Paper 7829, September 2016 How Long Is the Maturity of Corporate Borrowing? Evidence from Bond and Loan Issuances across Markets Juan Jose Cortina-Lorente, Tatiana Didier, and Sergio L. Schmukler World Bank Policy Research Working Paper 7815, September 2016 International Financial Integration of East Asia and Pacific Tatiana Didier, Ruth Llovet Montanes, and Sergio L. Schmukler World Bank Policy Researc Working Paper 7772, July 2016 Firm Financing and Growth in the Arab Region Juan Jose Cortina Lorente, Soha Ismail, and Sergio L. Schmukler World Bank Policy Research Working Paper 7756, July 2016 Euro Currency Risk and the Geography of Debt Flows to Peripheral European Monetary Union Members Eylem Ersal-Kiziler and Ha Nguyen World Bank Policy Research Working Paper 7738, June 2016 Sectoral Productivity Gaps and Aggregate Production Rishabh Sinha World Bank Policy Research Working Paper 7737, June 2016 Openness, Specialization, and the External Vulnerability of Developing Countries Luis-Diego Barrot, César Calderón, and Luis Servén Policy Research Working Paper 7711, June 2016 Unemployment and Mortality: Evidence from the Great Recession Ha Nguyen and Huong Nguyen World Bank Policy Research Working Paper 7603, March 2016 The Week Maya Eden World Bank Policy Research Working Paper 7598, March 2016 Illicit Activity and Money Laundering from an Economic Growth Perspective: A Model and an Application to Colombia Edgar Villa, Martha A. Misas, and Norman V. Loayza World Bank Policy Research Working Paper 7578, February 2016 The Welfare Cost of Inflation and the Regulations of Money Substitutes Benjamin Eden and Maya Eden Worldl Bank Policy Research Working Paper 7553, February 2016 The Great Recession and Job Loss Spillovers: Impact of Tradable Employment Shocks on Supporting Services

















16 | P a g e

Ha Nguyen and Shawheen Rezaei World Bank Policy Research Working Paper 7543, January 2016 Striving for Balance in Economics: Towards a Theory of the Social Determination of Behavior Karla Hoff and Joseph E. Stiglitz World Bank Policy Research Working Paper 7537, January 2016 2015 Weak Instruments in Growth Regressions: Implications for Recent Cross-Country Evidence on Inequality and Growth Aart Kraay World Bank Policy Research Working Paper 7494, November 2015 On the Welfare Implications of Automation Maya Eden and Paul Gaggl World Bank Policy Research Working Paper 7487, November 2015 Demand-Driven Propagation: Evidence from the Great Recession Ha Nguyen World Bank Policy Research Working Paper 7456, October 2015 Capital Market Financing, Firm Growth, and Firm Size Distribution Tatiana Didier, Ross Levine, and Sergio L. Schmukler World Bank Policy Research Working Paper 7353, July 2015 Do Poor Countries Really Need More IT? The Role of Relative Prices and Industrial Composition Maya Eden and Paul Gaggl World Bank Policy Research Working Paper 7352, June 2015 Do Capital Inflows Boost Growth in Developing Countries? Evidence from Sub-Saharan Africa César Calderón and Ha Nguyen World Bank Policy Research Working Paper 7298, June 2015 Doing the Survey Two-Step: The Effects of Reticence on Estimates of Corruption in Two-Stage Survey Questions Nona Karalashvili, Aart Kraay, and Peter Murrell World Bank Policy Research Working Paper 7276, May 2015 Good Countries or Good Projects? Comparing Macro and Micro Correlates of World Bank and Asian Development Bank Project Performance David Bulman, Walter Kolkma, and Aart Kraay World Bank Research Policy Working Paper 7245, April 2015 Behavioral Economics and Social Exclusion: Can Interventions Overcome Prejudice? Karla Hoff World Bank Policy Research Working Paper 7198, February 2015 “Small Miracles”—Behavioral Insights to Improve Development Policy: World Development Report 2015
















17 | P a g e

Allison Demeritt and Karla Hoff World Bank Policy Research Working Paper 7197, February 2015 The Changing Patterns of Financial Integration in Latin America Tatiana Didier, Matias Moretti, Sergio L. Schmukler World Bank Policy Research Working Paper 7190, February 2015 2014 Redistribution and Inequality Philip Keefer and Branko Milanovic World Bank Policy Research Working Paper 7129, December 2014 Transitioning from Low-Income Growth to High-Income Growth: Is There a Middle Income Trap? David Bulman, Maya Eden, Ha Nguyen World Bank Policy Research Working Paper 7104, November 2014 Testing Weak Exogeneity in Cointegrated Panels Enrique Moral-Benito and Luis Serven World Bank Policy Research Working Paper 7045, September 2014 Infrastructure, Growth, and Inequality: An Overview César Calderón and Luis Servén World Bank Policy Research Working Paper 7034, September 2014 Predicting World Bank Project Outcome Ratings Patricia Geli, Aart Kraay, and Hoveida Nobakht World Bank Policy Research Working Paper 7001, July 2014 Inflation and Indivisible Investment in Developing Economies Maya Eden and Ha Nguyen World Bank Policy Research Working Paper 6972, July 2014 Radio’s Impact on Preferences for Patronage Benefits Philip Keefer and Stuti Khemani World Bank Policy Research Working Paper 6932, June 2014 Comparative Advantage, International Trade, and Fertility Quy-Toan Do, Andrei Levchenko, Claudio Raddatz World Bank Policy Research Working Paper 6930, June 2014 Institutional Investors and Long-term Investment: Evidence from Chile Luis Opazo, Claudio Raddatz, and Sergio L. Schmukler World Bank Policy Research Working Paper 6922, June 2014 Institutions and Firms’ Return to Innovation: Evidence from the World Bank Enterprise Survey Ha Nguyen and Patricio A. Jaramillo World Bank Policy Research Working Paper 6918, June 2014














18 | P a g e

International Asset Allocations and Capital Flows: The Benchmark Effect Claudio Raddatz, Sergio L. Schmukler, and Tomás Williams World Bank Policy Research Working Paper 6866, May 2014 Growth, Inequality, and Social Welfare: Cross-Country Evidence David Dollar, Tatjana Kleineberg, and Aart Kraay World Bank Policy Research Working Paper 6842, April 2014 Do Poverty Traps Exist? Aart Kraay and David McKenzie World Bank Policy Research Working Paper 6835, April 2014 Convergence to the Managerial Frontier William F. Maloney and Mauricio Sarrias World Bank Policy Research Working Paper 6822, March 2014 Engineers, Innovative Capacity and Development in the Americas William F. Maloney and Felipe Valencia Caicedo World Bank Policy Research Working Paper 6814, March 2014 Why Don't Poor Countries Do R&D? Edwin Goñi and William F. Maloney World Bank Policy Research Working Paper 6811, March 2014 "Crowding in" and the Returns to Government Investment in Low-Income Countries Maya Eden and Aart Kraay World Bank Policy Research Working Paper 6781, February 2014 Financial Development in Asia: Beyond Aggregate Indicators Tatiana Didier and Sergio L. Schmukler World bank Policy Research Working Paper 6761, January 2014









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Working Papers by Macroeconomics and Growth Research Staff ...pubdocs.worldbank.org/en/236061518117608338/WPS... · Industrial Policies vs Public Goods under Asymmetric Information