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91. The Theoretical, Conceptual and Empirical Impact of the Service Economy: A Critical Review

Author:
Birgitte Andersen and Marva Corley
Publication Date:
03-2003
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
This paper offers a critical review of the conventional economic classification, measurement and valuation of output, and related performance indicators, for the service sector. The paper also explores and contrasts long-standing views on the service knowledge base and service innovations, as well as the global aspects of many services. A problem arises when historical industrial classification schemes treat services as being 'immaterial' (i.e. everything that is not manufacturing and agriculture), while ignoring that the activities of services in the economy, as well as the corporate structures of firms, transcend such classification schemes at any level of aggregation. Other problems arise when associated traditional analytical methods measure services input and output and related performance indicators using the same conceptual framework and indicators as those that are applied for problem solving for agriculture and manufacturing. Such entanglements have other and wider consequences for understanding the impact of the new economy and for designing appropriate policy.
Topic:
Development, Economics, International Trade and Finance, and Political Economy

92. Financial Sector Development — Futile or Fruitful? An Examination of the Determinants of Savings in Sri Lanka

Author:
George Mavrotas and Roger Kelly
Publication Date:
02-2003
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
This paper documents the financial and institutional developments of China during the past two decades, when China was successfully transformed from a rigid centralplanning economy to a dynamic market economy following its unique path. We empirically examine the relationship between financial development and economic growth in China by employing a panel sample covering 31 Chinese provinces during the important transition period 1986-2002. Our evidence suggests that the development of financial markets, institutions, and instruments have been robustly associated with economic growth in China.
Topic:
Development, Economics, Emerging Markets, and International Trade and Finance
Political Geography:
South Asia

93. Financial Sector Reforms and Savings Mobilization in Zambia

Author:
George Mavrotas and Samuel Manzele Maimbo
Publication Date:
02-2003
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
The paper explores the relationship between financial sector reforms and savings mobilization in Zambia. Although there exists an extensive literature on financial sector development and savings levels in developing countries, there does not seem to exist satisfactory work on the above nexus for sub-Saharan African countries, particularly Zambia. Along these lines, the paper examines the linkages between the financial reforms of the early 1990s and savings mobilization. It considers the characteristics of banks and non-bank financial institutions, especially micro finance institutions, and savings levels and identifies problems associated with the relatively poor performance of savings in recent years and concludes with a set of policy guidelines for strengthening savings mobilization, highlighting the expected effect on povertyreducing growth.
Topic:
Development, Economics, Emerging Markets, and International Trade and Finance
Political Geography:
Africa and Nordic Nations

94. A Holistic Perception of Foreign Financing of Developing Countries' Private Sectors: Analysis and Description of Structure and Trends

Author:
Matthew Odedokun
Publication Date:
03-2003
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
The study seeks to identify donor-specific factors that cause donors to delay aid disbursement, and to apply a double standard in dealing with the non-compliance of a recipient with regard to aid conditionalities, a practice that promotes uncertainty in the receipt of aid. Annual panel data over 1970-2000 for the 22 members of OECD's DAC donor group are employed in the empirical study. Our findings suggest that the proportion of pledged aid being disbursed, which shows an increasing trend, is positively affected by the extent to which aid is procurement-tied and by the size of the donor government's expenditure in relation to GDP. On the other hand, the proportion of aid commitments being disbursed, which appears lower for the G7 countries, is negatively influenced by factors such as abundant donor generosity, the predominance of grants in total aid, the specific targeting of aid to lower-income recipients, high growth in donor economy, as well as high level of checks and balances, and polarization between the executive and legislative branches of government in the donor country.
Topic:
Development, Economics, Emerging Markets, International Trade and Finance, and Non-Governmental Organization

95. Regional or National Poverty Lines? The Case of Uganda in the 1990s

Author:
Simon Appleton
Publication Date:
12-2003
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
Absolute poverty lines are often derived from the cost of obtaining sufficient calories. Where staples vary across regions, such poverty lines may differ depending on whether they are set using national or regional food baskets. Regional poverty lines are open to the objection that they may be contaminated by income effects. This paper explores this issue by focussing on Uganda, a country where widening spatial inequalities in the 1990s have caused concern. Conflicting results from earlier studies have suggested that the spatial pattern of poverty in Uganda is very sensitive to whether national or regional food baskets are used in setting poverty lines. We confirm this suggestion by comparing the spatial profile of poverty in 1993 using national and regional poverty lines. However, since the regions consuming the more expensive staple sources of calories are also those with higher incomes, using simple regional poverty lines is problematic. Instead, a method of setting regional poverty lines is considered that adjusts for income differentials between regions. Even with this adjustment, the use of regional food baskets implies a markedly different.
Topic:
Development, International Trade and Finance, and Poverty
Political Geography:
Uganda and Africa

96. Remittances by Emigrants: Issues and Evidence

Author:
Andrés Solimano
Publication Date:
12-2003
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
Remittances, after foreign direct investment, are currently the most important source of external finance to developing countries. Remittances surpass foreign aid, and tend to be more stable than such volatile capital flows as portfolio investment and international bank credit. Remittances are also an international redistribution from low-income migrants to their families in the home country.
Topic:
Development, Economics, International Trade and Finance, and Migration

97. Innovative Sources for Development Finance: Over-Arching Issues

Author:
Anthony B. Atkinson
Publication Date:
12-2003
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
In analysing proposals for new sources of development funding, there are several issues that arise across the board. What is the role of new sources in relation to existing overseas development assistance? Should we be seeking new sources that generate a double dividend? Can the key elements of a proposal be achieved by another route? What should be the fiscal architecture? Is there a modern transfer problem? It is with these general concerns that the present paper deals. Its aim is to bring to bear on global public finance the accumulated knowledge in the field of national public finance, and more generally public economics.
Topic:
Development, Economics, and International Trade and Finance

98. National Taxation, Fiscal Federalism and Global Taxation

Author:
Robin Boadway
Publication Date:
12-2003
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
This paper considers lessons from the practice of fiscal federalism for guidance on new approaches to development finance. Despite the fact that inter-regional redistribution in a federation relies on a central government with strong fiscal powers, the form of that redistribution can be used as a benchmark for international development assistance financing. In a federation, finance for less-developed regions takes the form of equalizing transfers to sub-national governments. The objective of these transfers is to enable sub-national governments to provide comparable levels of public services at comparable tax rates, called fiscal equity, leaving them discretion to implement interpersonal redistribution schemes within their jurisdictions. This same principle of assuming that national governments rather than donor nations are responsible for vertical equity within their borders leads to the view that the ideal form of development assistance is a system of equalizing inter-nation transfers intended to enhance fiscal equity.
Topic:
Development, Economics, Government, and International Trade and Finance

99. Environmental Taxation and Revenue for Development

Author:
Agnar Sandmo
Publication Date:
12-2003
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
This paper considers the role of global environmental taxes both as instruments for improving the global environment and as a source of revenue for funding economic development. It reviews the general case for environmental taxes and the particular issues that arise for the adoption of such taxes in an international setting without a single jurisdiction. It also discusses the possibilities for political acceptance of such taxes when tax revenue is linked to the goal of economic development. The revenue potential of global environmental taxes is evaluated with special reference to a global carbon tax. It is found that this tax alone has the potential to raise sufficient revenue to finance the United Nations' Millennium Development Goals.
Topic:
Development, Economics, Environment, and International Trade and Finance

100. Which Types of Aid Have the Most Impact?

Author:
George Mavrotas
Publication Date:
12-2003
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
The paper uses an aid disaggregation approach to examine the impact of different types of aid on the fiscal sector of the aid-recipient country. It uses time-series data on different types of aid (project aid, programme aid, technical assistance and food aid) for Uganda, an important aid recipient in recent years, to estimate a model of fiscal response in the presence of aid which combines aid disaggregation and endogenous aid. The empirical findings clearly suggest the importance of the above approach for delving deeper into aid effectiveness issues since different aid categories have different effects on key fiscal variables—an impact that could not be revealed if a single figure for aid was employed. More precisely, project aid and food aid appear to cause a reduction in public investment whereas programme aid and technical assistance are positively related to public investment. The same applies for government consumption. A negligible impact on government tax and non-tax revenues, and a strong displacement of government borrowing are also found.
Topic:
Economics, International Trade and Finance, and Poverty
Political Geography:
Uganda and Africa