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Public Sector and Governance

M-government? – Innovations from Punjab

Ana Bellver Vazquez-Dodero's picture

Two recent blogs (Mobile Apps for Health, Jobs and Poverty Data  and Transformational Use of ICTs in Africa) talked about how mobile applications facilitate access to services in the financial, trade, agriculture, and social sectors.
 
Despite proliferation in business applications, most government applications only provide information about public services and agencies. The potential is huge and now there is a level playing field for developed and developing countries.  Take the USA where government applications are still quite limited in scope and quantity (see the 10 best).  Aware of their unleashed potential, President Obama issued a directive on May, 23rd 2012 to every federal agency “to make two government services the American people depend on, available on mobile phones.”  Yes, May 2012.

The Supply Side of the Coin: Is Monetary Policy (Where There Is One) Passing Results?

Matija Laco's picture

Sovereign difficulties have divided financial markets in the Euro area, thereby increasing differences in bank lending rates across countries. Policy makers in both Brussels and Frankfurt are concerned about an uneven transmission of policy interest rate cuts by the European Central Bank (ECB) to bank lending rates across the region.

Based on this situation, a key question stands out: is the link between official, market, and retail interest rates broken?

When markets are functioning properly, interest rates on loans follow the policy rate in a uniform way across countries (granted with some lag). But, in the context of the ongoing crisis, markets became somewhat irresponsive – resulting in ECB rate cuts being unevenly passed on to borrowers across Euro-area countries. This uneven distribution has meant that those countries facing greater financial difficulties had to endure tougher financing conditions than those facing fewer difficulties – as exemplified when comparing Spanish and Italian retail rates to the much-lower French and German ones.  

So far, the economic literature has been relatively robust in arguing that government bond yields or credit default swaps (CDSs), given their stability, do not exert much influence on the way banks set their interest rates for their clients. However, the crisis has shown that because of the interconnectedness of central bank and sovereign balance sheets, developments in sovereign markets affect retail interest rates.

How has this played out in the EU11 countries? Have retail interest rate decreased in those countries where central banks reduced their policy rates? Or, was this a reaction on downward movement of CDSs?

Figure 1.  Interest rates on new lending to enterprises (in Percent) and CDS spreads (in basis points) in selected EU11 countries


 

Improving Connectivity for Landlocked Developing Countries: Preparing the comprehensive 10-year review of the Almaty Programme of Action

Nora Weisskopf's picture

What’s in Kyrgyzstan’s future?

Alex Kremer's picture

The problem with the World Bank’s 20th anniversary in Kyrgyzstan last November was that everybody else’s party had happened already.

There has been a blur of speeches, gala concerts, jazz bands, canapés, toasts and traditional performances as one embassy after another feted twenty years of partnership with the Kyrgyz Republic. The same guests, speeches, and – truth be told - probably the same canapés.

We had to do something different. So, as we celebrated the last 20 years of our work in Kyrgyzstan (which have been quite good), we toasted the next 20 years as well.


 

South East Europe Six: Growth, please!

Željko Bogetic's picture

Just six months ago, in the previous South East Europe Regular Economic Report (SEE RER) covering the six Western Balkan countries of Albania, Bosnia and Herzegovina, Kosovo, FYR Macedonia, Montenegro, and Serbia (SEE6), we looked at the double-dip recession in this region, and structural policies needed for recovery.
 
Now, we are happy to report that recovery is, indeed, under way in each of these countries. In 2013, the SEE6 region is projected to grow 1.7 percent, thus ending the double-dip recession of 2012. Electricity, agriculture, and even some exports are helping with this rebound of output. Kosovo is leading the pack with a growth rate of 3.1 percent, with Serbia (which accounts for nearly half of the region’s GDP) expected to grow by 2 percent on the heels of increased FDI, exports, and a return to normal agricultural crops. (In 2012, by contrast, agricultural output in Serbia dropped 20 percent on account of a severe drought). Albania, FYR Macedonia, and Montenegro are all expected to grow by between 1.2-1.6 percent. Rounding out this group is Bosnia and Herzegovina – with expected growth of 0.5 percent.
 
So, are things finally looking up in the Balkans? Not exactly.

Figure 1: SEE6 Unemployment Rates, 2012



Source: LFS data and ILO. Kosovo’s tentative data suggest unemployment as high as 35 percent.

A private boost to cash-for-work programs in Tunisia

Diego Angel-Urdinola's picture
        Kim Eun Yeul

Is the World Bank working with Non-Governmental Organizations to address high rates of unemployment in Tunisia? I remember this question clearly. It was asked by an NGO advocate during a recent workshop on public works in the Tunisian capital, Tunis. The World Bank team I was with had just finished highlighting the importance of developing public private partnerships for the delivery of employment services when the question was posed.

Co-creating a SMART Rwanda, SMART Africa and SMART World

Hon. Jean Philbert Nsengimana's picture
By Hon. Jean Philbert Nsengimana, Minister of Youth and ICT for Rwanda
Rwanda is steadily moving towards its vision of becoming an information-rich and knowledge-based economy and society, and an ICT hub in the region. This ambition is reflected in our Vision 2020, the subsequent mid-term economic development and poverty reduction strategy (EDPRS II), and the ICT Sector Strategic Plan 2013-2018.

New challenges, new alliances

Jose Carlos Villena Perez's picture

Multilateral organizations and Southern Europe can do more to cooperate to restore these countries’ global competitiveness

One of the lessons learned from the past few years is that economic development processes are reversible. The once-bright southern Europe economies are languishing today, wrapped in a slow and painful process of adjustment aimed at restructuring their productive sectors and enter once and for all into the 21st century economy.

It’s clear that these countries’ recovery will not be achieved simply with reforming their administrative and regulatory frameworks. Perhaps one of the most complex issues that Italy, Portugal, and Spain are currently dealing with is the interruption of credit flows to the real economy. This interruption is doing considerable harm to the countries of southern Europe; the credit shortage is affecting their competitiveness and jeopardizing any possible hint of improvement, putting the overall global economic recovery at risk.

Blogger’s Swan Song

Shanta Devarajan's picture
This will be my last post on Africa Can.  Having recently started a new adventure as Chief Economist of the World Bank’s Middle East and North Africa (MENA) region, I will be blogging on that region’s issues in the MENA blog as well as starting a more general blog (tentatively titled “Economics to end poverty”) with some of my fellow bloggers.  It has been a privilege to moderate Africa Can, and I want to thank our readers for the stimulating, lively and frank discussions, as well as for having made this the most popular blog at the Bank.

Multistakeholder Mid-Life Crisis? - Time for a support group

Michael Jarvis's picture

In a surprisingly rainy Sydney, over 1200 people gathered last week for the Global Conference of the Extractives Industries Transparency Initiative (EITI) – a multistakeholder effort bringing together stakeholders from government, civil society, oil, gas and mining companies and investors in support of transparency to help ensure citizens see the benefits from their country’s natural resources.


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