Optimizing finance for development / Tito Cordella
Resource type: Ressourcentyp: Buch (Online)Book (Online)Language: English Series: World Bank E-Library Archive | Policy research working paper ; 8320Publisher: Washington, D.C. : World Bank Group, Development Economics Vice Presidency, Strategy and Operations Team, January 2018Description: 1 Online-Ressource (circa 36 Seiten) : IllustrationenSubject(s): Genre/Form: Additional physical formats: Erscheint auch als: Optimizing Finance for Development. Druck-Ausgabe Washington, D.C : The World Bank, 2018DOI: DOI: 10.1596/1813-9450-8320Online resources: Summary: The World Bank Group recently adopted the "cascade framework" to "maximize finance for development." The cascade recommends that reforms be tried first, followed by subsidies, and then public investments. To understand the economics of the cascade, this paper presents a model where reforms, subsidies, and public investments can be used to fill the investment gap, and computes the welfare associated with their different sequencing. The cascade is optimal when reforms increase efficiency at no cost. When they are costly, if policies can be project specific, their sequencing does not matter; if not, the cascade can be optimal if agents are myopic, but not if they are forward-looking. Tensions may thus arise between maximizing private financing and optimizing financing for developmentPPN: PPN: 1016184174Package identifier: Produktsigel: ZDB-1-WBA | ZDB-110-WBONo physical items for this record
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