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33351. 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

33352. Savings and Financial Sector Development: Panel Cointegration Evidence from Africa

Author:
George Mavrotas and Roger Kelly
Publication Date:
02-2003
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
The paper uses different measures of financial sector development for a dynamic heterogeneous panel of 17 African countries to examine the impact of financial sector development on private savings. An innovative econometric methodology is also employed related to a series of cointegration tests within a panel. This is an important contribution since traditional panel data analysis adopted in previous studies suffers from serious heterogeneity bias problems. The empirical results obtained vary considerably among countries in the panel, thus highlighting the importance of using different measures of financial sector development rather than a single indicator. The evidence is rather inconclusive, although in most of the countries in the sample a positive relationship between financial sector development and private savings seems to hold. The empirical analysis also suggests that a change in government savings is offset by an opposite change in private savings in most of the countries in the panel, thus confirming the Ricardian equivalence hypothesis. Liquidity constraints do not seem to play a vital role in most of the African countries in the group, since the relevant coefficient is negative and significant in only a small group of countries
Topic:
Development, Economics, Emerging Markets, and Poverty
Political Geography:
Africa

33353. The Composition of Aid and the Fiscal Sector in an Aid-Recipient Economy: A Model

Author:
George Mavrotas and Bazoumana Ouattara
Publication Date:
02-2003
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
Building on recent work in the fiscal response literature, the present paper develops a new fiscal response model, which, for the first time in the relevant literature, combines the ideas of both endogenous and disaggregated aid. We endogenized aid on the grounds that the recipient government has some influence over aid disbursements. Regarding aid disaggregation, it is argued that each of the main four categories of aid, namely project aid, programme aid, technical assistance and food aid may exert different effects on the recipient economy. Furthermore, in case the preferences of the aid-recipient government are higher for some of these types of aid, neglecting aid disaggregation would lead to aggregation bias in the results and conclusions. The model adds an important new dimension to the vast aid effectiveness literature and calls for further modelling as well as empirical work in this promising research area so that significant policy implications can be derived.
Topic:
Development, Economics, Emerging Markets, Non-Governmental Organization, and Poverty

33354. Conflict and Peace-building in Africa: The Regional Dimensions

Author:
Timothy Shaw
Publication Date:
02-2003
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
Contemporary Africa reveals a range of causes, consequences and responses to conflicts which are increasingly interrelated as well as regional in character, as around the Great Lakes/Horn. Their economic and non-state features are undeniable, leading to some promising possibilities in terms of 'track-two' diplomacy both on and off the continent, such as the 'Kimberley Process' around 'blood' diamonds. Development corridors and trans-frontier peace-parks may also constitute innovative ways to moderate and contain conflict. As often, changeable African cases challenge established assumptions, analyses and policies, such as those around civil society, governance, regional and security studies.
Topic:
Conflict Prevention, Development, Peace Studies, and Regional Cooperation
Political Geography:
Africa

33355. Food Aid and Informal Insurance

Author:
Stefan Dercon and Pramila Krishnan
Publication Date:
01-2003
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
Households in developing countries use a variety of informal mechanisms to cope with risk, including mutual support and risk-sharing. These mechanisms cannot avoid that they remain vulnerable to shocks. Public programs in the form of food aid distribution and food-for-work programs are meant to protect vulnerable households from consumption and nutrition downturns by providing a safety net. In this paper we look into the extent to which food aid helps to smooth consumption by reducing the impact of negative shocks, taking into account informal risk-sharing arrangements. Using panel data from Ethiopia, we find that despite relatively poor targeting of the food aid, the programs contribute to better consumption outcomes, largely via intra-village risk sharing.
Topic:
Development, Non-Governmental Organization, Poverty, and Third World
Political Geography:
Africa and Ethiopia

33356. Health, Shocks and Poverty Persistence

Author:
Stefan Dercon and John Hoddinott
Publication Date:
01-2003
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
In this paper we review the evidence on the impact of large shocks, such as drought, on child and adult health, with particular emphasis on Zimbabwe and Ethiopia. Our focus is on the impact of shocks on long-term outcomes, and we ask whether there are intrahousehold differences in these effects. The evidence suggests substantial fluctuations in body weight and growth retardation in response to shocks. While there appears to be no differential impact between boys and girls, adult women are often worse affected by these shocks. For children, there is no full recovery from these losses, affecting adult health and education outcomes, as well as lifetime earnings. For adults, there is no evidence of persistent effects from transitory shocks in our data.
Topic:
Development, Poverty, Science and Technology, and Third World
Political Geography:
Africa, Zimbabwe, and Ethiopia

33357. 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

33358. Chechnya Weekly: New Questions Arise Over Hostage Rescue Mission

Author:
Lawrence Uzzell
Publication Date:
11-2003
Content Type:
Policy Brief
Institution:
North Caucasus Weekly (formerly Chechnya Weekly), The Jamestown Foundation
Abstract:
Did the U.S. and Russian governments both know that, when Russian commandos stormed Moscow's Dubrovka theater in October of 2002, the Chechen terrorists inside it had already agreed to release several of their hostages, including U.S. citizen Sandy Booker? Booker's fiance, Svetlana Gubareva, says that the answer is Yes. Booker and Gubareva's 13-year-old daughter, Sasha, both died in the tragedy; Gubareva was also taken hostage but survived.
Topic:
Security, Ethnic Conflict, and Government
Political Geography:
Russia, United States, Europe, Asia, and Moscow

33359. Chechnya Weekly: What do Kremlin Changes Mean For Chechnya?

Author:
Lawrence Uzzell
Publication Date:
11-2003
Content Type:
Policy Brief
Institution:
North Caucasus Weekly (formerly Chechnya Weekly), The Jamestown Foundation
Abstract:
The recent upheavals in the Kremlin, including the resignation of Aleksandr Voloshin as President Vladimir Putinís chief of staff, could portend major changes in the Kremlinís policies on Chechnya. Voloshin was known as a key architect of those policies and especially as a political ally of Akhmad Kadyrov, whose inauguration he attended in person last month. Conversely, the so-called ìsilovikiîó—the hard-liners of the military and secret police establishment, widely seen as the winners in the latest Kremlin faction fightó—have often been hostile to Kadyrov, whom they see as unreliable.
Topic:
Security and Ethnic Conflict
Political Geography:
Russia, Europe, Asia, and Chechnya

33360. Chechnya Weekly: Chechen Security Sweep Victims Still Alive?

Author:
Lawrence Uzzell
Publication Date:
10-2003
Content Type:
Policy Brief
Institution:
North Caucasus Weekly (formerly Chechnya Weekly), The Jamestown Foundation
Abstract:
Many of the Chechens who have disappeared in “zachistki” security sweeps are still alive in Russian captivity, in the view of human rights activist Kheda Saratova. The head of the Vozvrashchenie (“Return”) foundation told correspondent Aleksandr Kolesnichenko of Novye izvestia that the organization has assembled more than a thousand individual case files. Vozvrashchenie was created only a month ago in Grozny, for the purpose of finding as many of the kidnapped as possible.
Topic:
Security, Ethnic Conflict, and Human Rights
Political Geography:
Russia, Europe, Asia, and Chechnya