World Bank

Printed on Demand. Limited stock is held for this title. If you would like to order 30 copies or more please contact books@worldbank.org This work brings together the assessments and experiences of leading academics and practitioners from the international investor, lender and insurance communities. It examines the transformations in the political risk insurance market in the 1990s, resulting from changes in the broader insurance industry and from the rapid and complex expansion of foreign direct investment into emerging markets. It also analyzes some of the current supply and demand challenges in the political risk insurance marketplace in the wake of the financial crises of the late 1990s. The authors explore future directions in political risk management with regard to many of the most difficult issues: breach of contract coverage for firms with large fixed investments in sectors such as infrastructure and natural resources; securitization of political risk exposure; pricing and capacity in the political risk insurance industry; multiple pledge of shares between investors and lenders; and cooperation among private and public insurers. This book is a collection of papers stemming from a symposium on International Political Risk Management held in April 2000, under the joint auspices of the Multilateral Investment Guarantee Agency (MIGA) and the Karl F. Landegger Program in International Business Diplomacy at the School of Foreign Service, Georgetown University.

Global Development Finance 2011: External Debt of Developing Countries is a continuation of the World Bank’s publications Global Development Finance, Volume II (1997 through 2009) and the earlier World Debt Tables (1973 through 1996). As in previous years, GDF 2011 provides statistical tables showing the external debt of 128 developing countries that report public and publicly guaranteed external debt to the World Bank’s Debtor Reporting System (DRS). It also includes tables of key debt ratios for individual reporting countries and the composition of external debt stocks and flows for individual reporting countries and regional and income groups along with some graphical presentations.

GDF 2011 draws on a database maintained by the World Bank External Debt (WBXD) system. Longer time series and more detailed data are available from the Global Development Finance 2011 on CD-ROM and the World Bank open databases, which contain more than 200 time series indicators, covering the years 1970 to 2009 for most reporting countries, and pipeline data for scheduled debt service payments on existing commitments to 2017.

The database covers external debt stocks and flows, major economic aggregates, and key debt ratios, as well as average terms of new commitments, currency composition of longterm debt, and debt restructurings in greater detail than can be included in the GDF book. The CD-ROM also contains the full contents of the print version of GDF 2011. Text providing country notes, definitions, and source information is linked to each table.

Global Development Finance 2011: External Debt of Developing Countries is unique in its coverage of the important trends and issues fundamental to the financing of the developing world. This report is an indispensible resource for governments, economists, investors, financial consultants, academics, bankers, and the entire development community.

The importance of moving toward high-quality, global standards of accounting and auditing has never been clearer. In the midst of the global financial and economic crisis, the leaders of the Group of 20 met and issued their Declaration on Strengthening the Financial System, placing significant emphasis on sound accounting and auditing standards as a critical piece of the international financial architecture. Transparent and reliable corporate financial reporting underpins much of the Latin America and Caribbean development agenda, from private-sector-led growth to enhanced financial stability, facilitating access to finance for small and medium enterprises, and furthering economic integration. For nearly 10 years, the World Bank has prepared diagnostic Reports on the Observance of Standards and Codes (ROSCs) on Accounting and Auditing (A&A) at the country level. In Latin America and the Caribbean, ROSC A&A reports have been completed for 17 countries. This book takes a step back and seeks to distill lessons from a regional perspective. Accounting for Growth in Latin America and the Caribbean is the first book to examine financial reporting and auditing in the region in a systematic way, drawing on the World Bank s years of experience and analysis in this area. The book is designed to inform the policy dialogue on accounting and auditing issues among government officials, the accounting profession, the private sector, academia, and civil society in LAC countries. It also seeks to disseminate the lessons learned to key players at the international and regional level, including the donor community, in order to generate momentum for reform of accounting and auditing throughout the region.

"Paperback edition.

Nothing impacts the welfare of individuals and households more directly than employment and earnings opportunities. In developing countries, labor market reform is a crucial component for the success of overall economic policy reforms. Despite success in other areas of economic reform over the past ten years, Argentina, Brazil, and Chile continue to face significant labor policy issues.

To reduce the rhetoric around the issues - in Argentina, a high level of unemployment exists; in Brazil, the high costs of public employment have created large government deficits and public debt; and in Chile, there is a growing income inequality and uncertainty of employment - the book uses a systematically quantitative approach. The value of the quantitative methods in analysis is that they can provide frameworks to better understand the effects of various policy actions. The results can then be translated into benefits and costs that policy makers can more easily explain to their constituents. The policy recommendations resulting from the issues analyzed in Crafting Labor Policy: Techniques and Lessons from Latin America may be beneficial to other developing countries enacting labor market reforms."

Looking for accurate, up-to-date data on development issues? World Development Indicators is the World Bank's premier annual compilation of data about development. This indispensable statistical reference allows you to consult over 800 indicators for more than 150 economies and 14 country groups in more than 90 tables. It provides a current overview of the most recent data available as well as important regional data and income group analysis in six thematic sections: World View, People, Environment, Economy, States and Markets, and Global Links.

World Development Indicators 2011 presents the most current and accurate development data on both a national level and aggregated globally. It allows you to monitor the progress made toward meeting the Millennium Development Goals endorsed by the United Nations and its member countries, the World Bank, and a host of partner organizations. These goals, which focus on development and the elimination of poverty, serve as the agenda for international development efforts.

TABLE OF CONTENTS

1. World View - living standards and development progress

2. People - gender, health, and employment

3. Environment - natural resources and environmental changes

4. Economy - new opportunities for growth

5. States and Markets - elements of good investment climate

6. Global Links - evidence on globalization

Developing countries lose an estimated US$20-40 billion each year through bribery, misappropriation of funds, and other corrupt practices. Much of the proceeds of this corruption find ‘safe haven’ in the world’s financial centers. These criminal flows are a drain on social services and economic development programs, contributing to the impoverishment of the world’s poorest countries. Many developing countries have already sought to recover stolen assets. A number of successful high-profile cases with creative international cooperation have demonstrated that asset recovery is possible. However, it is highly complex, involving coordination and collaboration with domestic agencies and ministries in multiple jurisdictions, as well as the capacity to trace and secure assets and pursue various legal options—whether criminal confiscation, non-conviction based confiscation, civil actions, or other alternatives.

This process can be overwhelming for even the most experienced of practitioners. It is exceptionally difficult for those working in the context of failed states, widespread corruption, or limited resources. With this in mind, the Stolen Asset Recovery (StAR) Initiative has developed the Asset Recovery Handbook: A Guide for Practitioners to guide those grappling with the strategic, organizational, investigative, and legal challenges of recovering stolen assets. A practitioner-led project, the Handbook provides common approaches to recovering stolen assets located in foreign jurisdictions, identifies the challenges that practitioners are likely to encounter, and introduces good practices. Included are examples of tools that can be used by practitioners, such as sample intelligence reports, applications for court orders, and mutual legal assistance requests.

Global Development Finance 2012: External Debt of Developing Countries is a continuation of the World Bank’s publications Global Development Finance, Volume II (1997 through 2009) and the earlier World Debt Tables (1973 through 1996). As in previous years, GDF 2012 provides statistical tables showing the external debt of 129 developing countries that report public and publicly guaranteed external debt to the World Bank’s Debtor

Reporting System (DRS). It also includes tables of key debt ratios for individual reporting countries and the composition of external debt stocks and flows for individual reporting countries and regional and income groups along with some graphical presentations.

GDF 2012 draws on a database maintained by the World Bank External Debt (WBXD) system. Longer time series and more detailed data are available from the Global Development Finance 2012 on CD-ROM and the World Bank open databases, which contain more than 200 time series indicators, covering the years 1970 to 2010 for most reporting countries, and pipeline data for scheduled debt service payments on existing commitments to 2018.

The database covers external debt stocks and flows, major economic aggregates, and key debt ratios, as well as average terms of new commitments, currency composition of longterm debt, and debt restructurings in greater detail than can be included in the GDF book. The CD-ROM also contains the full contents of the print version of GDF 2012. Text providing country notes, definitions, and source information is linked to each table.

Global Development Finance 2012: External Debt of Developing Countries is unique in its coverage of the important trends and issues fundamental to the financing of the developing world. This report is an indispensible resource for governments, economists, investors, financial consultants, academics, bankers, and the entire development community.

The WDR 2012: Gender Equality and Development will focus on the evolution of gender equality across the world in the context of the development process. The report will consider gender equality as a core development goal in itself, and will argue that gender equality matters for the pace of development. Improvements in gender equality can generate gains in economic efficiency and improvements in other development outcomes. And gender equality has consequences for the quality and representativeness of the institutions a society develops.

For key dimensions of gender equality, the report will show that although many women around the world still continue to struggle with gender-based disadvantages, much has changed for the better and at a more rapid pace than ever before. But the report will also show that progress needs to be expanded, protected and deepened.

In order to understand why progress has varied across dimensions of gender equality and between countries, the report will look at how markets interact with formal and informal institutions to influence household decision-making by providing incentives, shaping preferences, or imposing constraints. Markets and institutions can combine to provide strong incentives for greater gender equality, but can also fail to do so if they treat males and females differentially.

Policymakers and practitioners still face gaps in knowledge both in how gender equality matters for development and how best to incorporate these links in policy design. This WDR aims to bridge these gaps by building upon the growing body of multidisciplinary theory, evidence, and data on these links while highlighting the knowledge gaps that remain.

In recent years, revelations of grand corruption and the plunder of state assets have led to greater scrutiny of financial relationships with politically exposed persons (PEPs) - senior government officials, family members and close associates - and potential money laundering risks associated with these customers. Notwithstanding the efforts by many financial institutions and regulatory authorities to prevent corrupt PEPs from entering and using the financial system to launder the proceeds of corruption, there has been an overall failure in the effective implementation of risk-based systems to detect corruption proceeds. Politically Exposed Persons: A Guide to Strengthening Preventive Measures for the Banking Sector is designed to help banks and regulatory authorities address the risks posed by PEPs and prevent corrupt PEPs from abusing domestic and international financial systems to launder the proceeds of corruption. The book provides recommendations and good practices aimed at improving compliance with international standards and increasing supervisory effectiveness. Implementation of an effective PEP regime is a critical component of the prevention and detection of transfers of proceeds of crime and, therefore, ultimately in the process of recovering these proceeds of corruption. The United Nations Convention against Corruption and the Financial Action Task Force Forty Recommendations on Money Laundering require countries to ensure that financial institutions implement systems to identify and verify PEP customers, enhance due diligence procedures at account opening, and provide ongoing monitoring of transactions. Politically Exposed Persons: A Guide to Strengthening Preventive Measures for the Banking Sector will be an important tool for individuals, governments, financial and private sector companies, and international organizations involved in developing and implementing standards aimed at fighting corruption and money laundering, and trying to recover stolen assets and the proceeds of corruption.

A joint effort led by the African Development Bank and the World Bank, Leveraging Migration for Africa is the first comprehensive publication on harnessing migration, remittances, and other diaspora resources for the development of Africa. It comes at a time when countries in Africa and elsewhere are grappling with difficult choices on how to manage migration.

Policy makers can help leverage the contributions of migrants to the development of Africa, reduce remittance costs, improve the efficiency of remittance markets in both origin and destination countries, and address the needs of the origin countries without restricting the emigration of high-skilled professionals. Innovative financing mechanisms such as issuance of diaspora bonds and securitization of future remittance flows can help finance big-ticket projects, such as railways, roads, power plants, and institutions of higher learning that will, step by step, help to transform Africa. This volume contributes to a greater understanding of migration and its potential role in Africa’s development.