Correlates of Success in World Bank Development Policy Lending
This paper examines the correlates of success of development policy lending operations of the World Bank between 2004 and 2012. The paper uses a data set constructed of individual loan characteristics and ex-post loan ratings produced by the World...
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| Format: | Publications & Research |
| Language: | English en_US |
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World Bank Group, Washington, DC
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2015/01/23908834/correlates-success-world-bank-development-policy-lending http://hdl.handle.net/10986/21471 |
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okr-10986-214712021-04-23T14:04:02Z Correlates of Success in World Bank Development Policy Lending Moll, Peter Geli, Patricia Saavedra, Pablo ACCOUNTING ADJUSTMENT AGRICULTURE BANK POLICY CHECKS COMMITMENT COMMITMENTS CONCESSIONAL TERMS CORRUPTION DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DEVELOPMENT FINANCING DEVELOPMENT POLICY DEVELOPMENT STRATEGIES DUMMY VARIABLE DUMMY VARIABLES ECONOMETRIC MODELS ECONOMIC PERFORMANCE ECONOMIC POLICIES ECONOMIC RESEARCH EMERGING ECONOMIES EXCHANGE RATE EXPENDITURE FINANCE MANAGEMENT FINANCIAL MANAGEMENT FISCAL DISCIPLINE FOREIGN AID FOREIGN ASSISTANCE GDP GDP PER CAPITA GROWTH POLICIES HUMAN DEVELOPMENT IDA CREDITS INDIVIDUAL LOAN INFRASTRUCTURE INVESTMENTS INSTRUMENT INTERNAL AUDITS INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INVESTMENT LOANS INVESTMENT PROJECTS JUSTICE LEADERSHIP LENDING INSTRUMENT LENDING OPERATIONS LOAN LOAN SIZE MACROECONOMIC CONDITIONS MACROECONOMIC MANAGEMENT MACROECONOMIC POLICIES MACROECONOMIC POLICY MACROECONOMIC STABILITY MACROECONOMIC VARIABLES MACROECONOMICS MULTILATERAL DEVELOPMENT BANKS NATURAL DISASTERS PATRONAGE POLITICAL ECONOMY PORTFOLIO POSITIVE COEFFICIENT PRIVATE SECTOR CREDIT PUBLIC FINANCE REGIONAL DUMMIES REGRESSION ANALYSIS RETURN RISK AVERSION STRUCTURAL ADJUSTMENT STRUCTURAL ADJUSTMENT LOANS TAX TRADE POLICIES TRANSPORT URBAN DEVELOPMENT WORLD BANK FINANCING WORLD BANK LENDING WORLD BANK LOANS This paper examines the correlates of success of development policy lending operations of the World Bank between 2004 and 2012. The paper uses a data set constructed of individual loan characteristics and ex-post loan ratings produced by the World Bank's Independent Evaluation Group. Departing from the related literature, the paper focuses mostly on examining the impact of loan characteristics, reform program design features, and task team leader skills, among other variables, on intended development results, while still controlling for country characteristics. It finds that a variable used to reflect congruence or "line of sight" between the policy reforms supported and the results framework is a critical ingredient for success. Task team leader skills in general, and task team leadership by staff affiliated with the former "Economic Policy" department of the World Bank, also increase the chance of success. Conversely, a weaker set of supported reforms in these operations tends to reduce the chance of success. Reforms supported in the energy sector seem to reduce the likelihood of success, perhaps because of the inherent political difficulties of implementing reforms in this sector. The paper also draws important policy and institutional implications from these and other findings. 2015-02-23T20:24:55Z 2015-02-23T20:24:55Z 2015-01 http://documents.worldbank.org/curated/en/2015/01/23908834/correlates-success-world-bank-development-policy-lending http://hdl.handle.net/10986/21471 English en_US Policy Research Working Paper;No. 7181 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Group, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTING ADJUSTMENT AGRICULTURE BANK POLICY CHECKS COMMITMENT COMMITMENTS CONCESSIONAL TERMS CORRUPTION DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DEVELOPMENT FINANCING DEVELOPMENT POLICY DEVELOPMENT STRATEGIES DUMMY VARIABLE DUMMY VARIABLES ECONOMETRIC MODELS ECONOMIC PERFORMANCE ECONOMIC POLICIES ECONOMIC RESEARCH EMERGING ECONOMIES EXCHANGE RATE EXPENDITURE FINANCE MANAGEMENT FINANCIAL MANAGEMENT FISCAL DISCIPLINE FOREIGN AID FOREIGN ASSISTANCE GDP GDP PER CAPITA GROWTH POLICIES HUMAN DEVELOPMENT IDA CREDITS INDIVIDUAL LOAN INFRASTRUCTURE INVESTMENTS INSTRUMENT INTERNAL AUDITS INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INVESTMENT LOANS INVESTMENT PROJECTS JUSTICE LEADERSHIP LENDING INSTRUMENT LENDING OPERATIONS LOAN LOAN SIZE MACROECONOMIC CONDITIONS MACROECONOMIC MANAGEMENT MACROECONOMIC POLICIES MACROECONOMIC POLICY MACROECONOMIC STABILITY MACROECONOMIC VARIABLES MACROECONOMICS MULTILATERAL DEVELOPMENT BANKS NATURAL DISASTERS PATRONAGE POLITICAL ECONOMY PORTFOLIO POSITIVE COEFFICIENT PRIVATE SECTOR CREDIT PUBLIC FINANCE REGIONAL DUMMIES REGRESSION ANALYSIS RETURN RISK AVERSION STRUCTURAL ADJUSTMENT STRUCTURAL ADJUSTMENT LOANS TAX TRADE POLICIES TRANSPORT URBAN DEVELOPMENT WORLD BANK FINANCING WORLD BANK LENDING WORLD BANK LOANS |
| spellingShingle |
ACCOUNTING ADJUSTMENT AGRICULTURE BANK POLICY CHECKS COMMITMENT COMMITMENTS CONCESSIONAL TERMS CORRUPTION DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DEVELOPMENT FINANCING DEVELOPMENT POLICY DEVELOPMENT STRATEGIES DUMMY VARIABLE DUMMY VARIABLES ECONOMETRIC MODELS ECONOMIC PERFORMANCE ECONOMIC POLICIES ECONOMIC RESEARCH EMERGING ECONOMIES EXCHANGE RATE EXPENDITURE FINANCE MANAGEMENT FINANCIAL MANAGEMENT FISCAL DISCIPLINE FOREIGN AID FOREIGN ASSISTANCE GDP GDP PER CAPITA GROWTH POLICIES HUMAN DEVELOPMENT IDA CREDITS INDIVIDUAL LOAN INFRASTRUCTURE INVESTMENTS INSTRUMENT INTERNAL AUDITS INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INVESTMENT LOANS INVESTMENT PROJECTS JUSTICE LEADERSHIP LENDING INSTRUMENT LENDING OPERATIONS LOAN LOAN SIZE MACROECONOMIC CONDITIONS MACROECONOMIC MANAGEMENT MACROECONOMIC POLICIES MACROECONOMIC POLICY MACROECONOMIC STABILITY MACROECONOMIC VARIABLES MACROECONOMICS MULTILATERAL DEVELOPMENT BANKS NATURAL DISASTERS PATRONAGE POLITICAL ECONOMY PORTFOLIO POSITIVE COEFFICIENT PRIVATE SECTOR CREDIT PUBLIC FINANCE REGIONAL DUMMIES REGRESSION ANALYSIS RETURN RISK AVERSION STRUCTURAL ADJUSTMENT STRUCTURAL ADJUSTMENT LOANS TAX TRADE POLICIES TRANSPORT URBAN DEVELOPMENT WORLD BANK FINANCING WORLD BANK LENDING WORLD BANK LOANS Moll, Peter Geli, Patricia Saavedra, Pablo Correlates of Success in World Bank Development Policy Lending |
| relation |
Policy Research Working Paper;No. 7181 |
| description |
This paper examines the correlates of
success of development policy lending operations of the
World Bank between 2004 and 2012. The paper uses a data set
constructed of individual loan characteristics and ex-post
loan ratings produced by the World Bank's Independent
Evaluation Group. Departing from the related literature, the
paper focuses mostly on examining the impact of loan
characteristics, reform program design features, and task
team leader skills, among other variables, on intended
development results, while still controlling for country
characteristics. It finds that a variable used to reflect
congruence or "line of sight" between the policy
reforms supported and the results framework is a critical
ingredient for success. Task team leader skills in general,
and task team leadership by staff affiliated with the former
"Economic Policy" department of the World Bank,
also increase the chance of success. Conversely, a weaker
set of supported reforms in these operations tends to reduce
the chance of success. Reforms supported in the energy
sector seem to reduce the likelihood of success, perhaps
because of the inherent political difficulties of
implementing reforms in this sector. The paper also draws
important policy and institutional implications from these
and other findings. |
| format |
Publications & Research |
| author |
Moll, Peter Geli, Patricia Saavedra, Pablo |
| author_facet |
Moll, Peter Geli, Patricia Saavedra, Pablo |
| author_sort |
Moll, Peter |
| title |
Correlates of Success in World Bank Development Policy Lending |
| title_short |
Correlates of Success in World Bank Development Policy Lending |
| title_full |
Correlates of Success in World Bank Development Policy Lending |
| title_fullStr |
Correlates of Success in World Bank Development Policy Lending |
| title_full_unstemmed |
Correlates of Success in World Bank Development Policy Lending |
| title_sort |
correlates of success in world bank development policy lending |
| publisher |
World Bank Group, Washington, DC |
| publishDate |
2015 |
| url |
http://documents.worldbank.org/curated/en/2015/01/23908834/correlates-success-world-bank-development-policy-lending http://hdl.handle.net/10986/21471 |
| _version_ |
1764448372759986176 |