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1. Rethinking the Financial Design of the World Bank

Author:
Devesh Kapur and Arjun Raychaudhuri
Publication Date:
01-2014
Content Type:
Working Paper
Institution:
Center for Global Development
Abstract:
Since their inception, through 2012, the institutions comprising the World Bank group have been involved in lending nearly a trillion dollars. In this paper, we focus on the IBRD, which is the core of the World Bank. The IBRD has the potential to continue to grow and be an important player in official financial flows, supporting critical long-term development projects with large social returns, in sectors ranging from infrastructure, social sectors, or environment.
Topic:
Development, Economics, Environment, Foreign Aid, Infrastructure, and World Bank
Political Geography:
Europe

2. The Skills They Want: Aspirations of Students in Emerging India

Author:
Devesh Kapur, Megha Aggarwal, and Namrata Tognatta
Publication Date:
12-2012
Content Type:
Working Paper
Institution:
Center for the Advanced Study of India
Abstract:
This report investigates student awareness, interests and aspirations around general and vocational education. Using a survey administered to class 12 students in one district each in Rajasthan, Chattisgarh, and Karnataka, we attempt to gain a better understanding of student aspirations, awareness levels, sources of information, key stakeholders and factors that influence their education and career choices. We then map student interests against sectors that are slated to experience the highest growth in terms of job creation. Our results indicate aspirations of students are largely misaligned with the needs of the Indian economy. It is important to create opportunities, generate awareness about various career options and the respective pathways available to realise career goals. Our findings have implications for policies aiming to improve participation in vocational education and training.
Topic:
Development, Economics, Education, and Labor Issues
Political Geography:
South Asia and India

3. Remittances and Rashomon

Author:
Devesh Kapur and Randall Akee
Publication Date:
01-2012
Content Type:
Working Paper
Institution:
Center for Global Development
Abstract:
Utilizing a novel data set on remittance data for India that matches household surveys to administrative bank data, we investigate the differences in self-reported and actual deposits to Non-Resident Indian (NRI) accounts. There is a striking difference between the perceived and actual frequency, as well as the amount of deposits, to NRI accounts. Our results indicate the presence of non-classical measurement error in the reporting of remittances in the form of deposits to NRI accounts. As a consequence, regression analyses using remittances as an explanatory variable may contain large upward biases instead of the usual attenuation of results under classical measurement error. Instrumental variables estimates are no better; the estimated coefficients from these regressions are more than three times the size of the OLS regression results. The results point to the need to more carefully check the accuracy of the international remittance flows. The wide discrepancies in the Indian case could be both because of inaccuracies in the household survey as well as mis-classification of the Balance of Payment data with some fraction of reported remittances being disguised capital flows (and hence likely to be less stable) rather than current account flows for family maintenance.
Topic:
Development, Economics, and Labor Issues
Political Geography:
South Asia

4. Renewable Resource Shocks and Conflict in India's Maoist Belt

Author:
Devesh Kapur, Kishore Gawande, and Shanker Satyanath
Publication Date:
08-2012
Content Type:
Working Paper
Institution:
Center for Global Development
Abstract:
Is there a causal relationship between shocks to renewable natural resources, such as agricultural and forest lands, and the intensity of conflict? In this paper, we conduct a rigorous econometric analysis of a civil conflict that the Indian Prime Minister has called the single biggest internal security challenge ever faced by his country, the so-called Maoist conflict. We focus on over-time within-district variation in the intensity of conflict in the states where this conflict is primarily located. Using a novel data set of killings, we find that adverse renewable resource shocks have a robust, significant association with the intensity of conflict. A one standard deviation decrease in our measure of renewable resources increases killings by 12.5 percent contemporaneously, 9.7 percent after a year, and 42.2 percent after two years. Our instrumental variables strategy allows us to interpret these findings in a causal manner.
Topic:
Security, Agriculture, Economics, and Natural Resources
Political Geography:
South Asia and India

5. Beyond the IMF

Author:
Devesh Kapur and Richard Webb
Publication Date:
09-2006
Content Type:
Working Paper
Institution:
Center for Global Development
Abstract:
A consensus has developed that the International Monetary Fund (IMF) is not fulfilling its role, prompting multiple proposals for reform. However, this paper argues that the focus on reform should be complemented with an exploration of alternatives outside the IMF which hold the potential to not only give developing countries greater bargaining leverage with the Fund but also, by increasing competition, spurring the institution to better performance. The paper argues that most of the IMF's functions are being carried out in part through alternative institutional arrangements. It focuses in particular on the insurance role of the Fund and argues that developing countries are developing alternative insurance mechanisms, from a higher level of reserves, to regional co-insurance facilities to remittances as a counter-cyclical source of foreign exchange. The de facto exit of its clientele has been driven by the high political costs associated with Fund borrowing and now poses unprecedented challenges for the Fund, in particular pressures on its income. The paper argues for a rapid restructuring and significant cuts of the Fund's administrative budget with the budget savings instead directed to lower the interest rates charged to borrowers.
Topic:
Development, Economics, International Trade and Finance, and Third World

6. The State in a Changing World: A Critique of the 1997 World Development Report

Author:
Devesh Kapur
Publication Date:
02-1998
Content Type:
Working Paper
Institution:
Weatherhead Center for International Affairs, Harvard University
Abstract:
In recent years, the World Bank has been at the vanguard in pressing for a circumscribed role for the State in developing countries. It therefore comes as somewhat of a surprise that the 1997 World Development Report (WDR - the World Bank's annual flagship publication), The State in a Changing World, underscores the continuing significance of the State in LDCs.
Topic:
Development, Economics, Emerging Markets, Government, International Organization, and Third World