Assessing the World Bank's influence on the good governance paradigm

What does governance mean for the World Bank (WB) and how far does the organization influence the world community with this concept? The World Bank primarily focused on economic aspects of governance in the 1980s and progressively moved to its political dimensions in the end of 1990s. The paper discusses the reasons for this global shift and its consistency with regard to the values of the liberal society. Bibliometric methods are used to evaluate the role of the Bank as a producer of knowledge on this specific issue. In addition the academic relationships that the organization built to shape the 'good governance' concept are explored. As well as networking, which contributes to the promotion of its worldwide influence, the soft and hard powers of the Bank are seen at work through aid allocation systems. The potential influence of the main WB's governance indicators (CPIA, WGI and Doing Business) is depicted through what donors claim, and beyond rhetoric, through what correlations suggest. For each of the main international donors, cross-sectional econometric regressions are run on large samples of developing countries (2005-2008). According to the donor we look at, empirical results do not reject strong covariations between new commitments and the CPIA or the WGI.The World Bank;governance;liberal society;Knowledge;aid commitments;Soft and Hard power

Total Factor Productivity of Tunisia's manufacturing sectors: measurement, determinants and convergence towards OECD countries

The purpose of this paper is twofold. First, sector-based Total Factor Productivity (TFP) is calculated for six Tunisian manufacturing sectors over the period 1983-2002. Economic determinants of the productive performance are also investigated. In doing so, we take care of the direction of the causality by using a panel data Granger type-test. The recent literature in international economics has placed a particular emphasis on the relation between TFP and variables reflecting the potential impact of both trade and financial openness. Sector-based TFPs proved to be sensitive to some of these variables, highlighting a causality that does not reject the stimulating impact of exports and foreign direct investments. Second, the paper implements some panel data unit root tests to investigate the statistical hypothesis of TFP catching up of Tunisia with OECD members. In benchmarking each of the six Tunisian sectors by those of the most developed countries, panel data unit root tests do not reject the hypothesis of an overall catching- up for five of them.cerdi

Total Factor Productivity of Tunisia’s manufacturing sectors: measurement, determinants and convergence towards OECD countries

The purpose of this paper is twofold. First, sector-based Total Factor Productivity (TFP) is calculated for six Tunisian manufacturing sectors over the period 1983-2002. Economic determinants of the productive performance are also investigated. In doing so, we take care of the direction of the causality by using a panel data Granger type-test. The recent literature in international economics has placed a particular emphasis on the relation between TFP and variables reflecting the potential impact of both trade and financial openness. Sector-based TFPs proved to be sensitive to some of these variables, highlighting a causality that does not reject the stimulating impact of exports and foreign direct investments. Second, the paper implements some panel data unit root tests to investigate the statistical hypothesis of TFP catching up of Tunisia with OECD members. In benchmarking each of the six Tunisian sectors by those of the most developed countries, panel data unit root tests do not reject the hypothesis of an overall catching- up for five of them.

Chemical modeling for pH prediction of acidified musts with gypsum and tartaric acid in warm regions

Winemaking of musts acidified with up to 3 g/L of gypsum (CaSO4 2H2O) and tartaric acid, both individually and in combination, as well as a chemical modeling have been carried out to study the behaviour of these compounds as acidifiers. Prior to fermentation gypsum and tartaric acid reduce the pH by 0.12 and 0.17 pH units/g/L, respectively, but while gypsum does not increase the total acidity and reduces buffering power, tartaric acid shows the opposite behaviour. When these compounds were used in combination, the doses of tartaric acid necessary to reach a suitable pH were reduced. Calcium concentrations increase considerably in gypsum-acidified must, although they fell markedly after fermentation over time. Sulfate concentrations also increased, although with doses of 2 g/L they were lower than the maximum permitted level (2.5 g/L). Chemical modeling gave good results and the errors in pH predictions were less than 5% in almost all case

Crystalline silicate dust around evolved stars I. The sample stars

This is the first paper in a series of three where we present the first comprehensive inventory of solid state emission bands observed in a sample of 17 oxygen-rich circumstellar dust shells surrounding evolved stars. The data were taken with the Short and Long Wavelength Spectrographs on board of the Infrared Space Observatory (ISO) and cover the 2.4 to 195 micron wavelength range. The spectra show the presence of broad 10 and 18 micron bands that can be attributed to amorphous silicates. In addition, at least 49 narrow bands are found whose position and width indicate they can be attributed to crystalline silicates. Almost all of these bands were not known before ISO. We have measured the peak positions, widths and strengths of the individual, continuum subtracted bands. Based on these measurements, we were able to order the spectra in sequence of decreasing crystalline silicate band strength. We found that the strength of the emission bands correlates with the geometry of the circumstellar shell, as derived from direct imaging or inferred from the shape of the spectral energy distribution. This naturally divides the sample into objects that show a disk-like geometry (strong crystalline silicate bands), and objects whose dust shell is characteristic of an outflow (weak crystalline silicate bands). All stars with the 33.6 micron forsterite band stronger than 20 percent over continuum are disk sources. We define spectral regions (called complexes) where a concentration of emission bands is evident, at 10, 18, 23, 28, 33, 40 and 60 micron. We derive average shapes for these complexes and compare these to the individual band shapes of the programme stars.Comment: 41 pages, 20 figures, accepted by A&A. Tables 4 to 20 are only available in electronic form at the CDS via anonymous ftp to cdsarc.u-strasbg.fr (130.79.128.5) or via http://cdsweb.u-strasbg.fr/cgi-bin/qcat?J/A+A

Exchange Rate Undervaluation to Foster Manufactured Exports: A Deliberate Strategy?

Recent literature suggests that a proactive strategy consisting of deliberate real exchange rate depreciation can promote exports diversification and growth. This paper is built on these recent developments and investigates whether four developing countries have adopted such a strategy. Data from Egypt, Jordan, Morocco and Tunisia are used to construct and compare the macroeconomic Real Effective exchange rate (REER), similar exchange rates at the sector level (SREER) and the macroeconomic Equilibrium Real Effective exchange rate (EREER). It shows that there are instances where the objective of diversifying exports through depreciation of exchange rate comes at the expense of further misalignment (REER departs from the EREER) and, then, monetary authorities are doomed to choose. The results show that Morocco and Tunisia are choosing the proactive exchange rate strategy while Egypt and Jordan are not. This fits with the observation that the former are doing much better than the latter in terms of exports diversification.Exchange rate, Misalignment, Undervaluation, Exports diversification

Exchange Rate Undervaluation and Manufactured Exports: A Deliberate Strategy?

Recent literature suggests that a proactive exchange rate policy in accordance with price incentives (i.e. undervaluation) can foster manufactured exports and growth. This paper is built on these recent developments and investigates, using a sample of 52 developing countries, whether such a proactive exchange rate policy is adopted. The results show that during the period 1991-2005 a number of countries has used undervaluation to foster the price competitiveness of manufactured exports.Exchange rate;Misalignment;Undervaluation;Exports diversification

Textile manufacturing in eight developing countries:How far does the business environment explain firms' productive inefficiency?

Production frontiers and inefficiency determinants are estimated by using stochastic models. Textile manufacturing is considered for a sample of eight developing countries encompassing about one thousand firms. We find that the most influential individual inefficiency determinants relate to in-house organization. Both access to financing and infrastructural services (e.g. power supply, modern information technologies...) also matter. Information about determinants is then regrouped into three broad categories (e.g. managerial organization, economic environment, institutions) by using principal component analyses. Results do not reject the hypothesis that managerial know-how and the quality of institutions are the most important determinants. The impact of the external economic environment is of less importance although statistically significant. Sector-based simulations are then proposed in order to assess productivity gains which would occur if firms had the opportunity to evolve in most favorable environments within the sample. Domestic and international production contexts are considered, respectively. When referring to domestic benchmarks, the contribution of in-house organization prevails as the main source of gains for the eight countries. The role of institutions proves dominant for Egypt and India when focusing on international simulations.textile;firms;Technical efficiency;organizational know-how;productivity;institutions;external economic environment;one step stochastic frontier method

Capital Flows and their Impact on the Real Effective Exchange Rate

This paper analyzes the impact of capital inflows and the exchange rate regime on the real effective exchange rate. A wide range of developing countries (42 countries) is considered with estimation based on panel cointegration techniques. The results show that both public and private inflows cause the real effective exchange rate to appreciate. Among private inflows, portfolio investment has the biggest effect on appreciation, almost seven times that of foreign direct investment or bank loans, and private inflows have the smallest effect. Using a de facto measure of exchange rate flexibility, we find that a more flexible exchange rate helps to dampen appreciation of the real effective exchange rate caused by capital inflows.Private capital flows;real effective exchange rate;exchange rate flexibility;emerging markets;low-income countries;pooled mean group estimator