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Growth and Poverty Reduction in Armenia
Since 2000, Armenia's economic performance has been remarkable. Real economic growth has averaged 11 percent a year, annual inflation has averaged 3 percent, and poverty and inequality have fallen. The country has outperformed other low-income countries including other members of the Commonwealth of Independent States. This is particularly impressive given the geographical location of Armenia, the closure of two critical borders, and occasional political turmoil. The key factors behind Armenia's economic performance are prudent monetary and fiscal policies, liberal trade and foreign exchange regimes, rapid and relaively well-sequenced structural reforms, and support from the Armenian diaspora. In addition, the implementation of a poverty reduction strategy since 2002 has complemented the effect of economic growth on reducing poverty. This book assesses the country's economic transformation during the last 10 years and discusses the challenges to sustaining these successes.
Mobilizing private finance for local infrastructure in Europe and Central Asia
Annotation "In recent years, the countries of the Europe and Central Asia (ECA) Region have experienced a marked decline in the interest of international private operators and investors in municipal infrastructure projects, in line with the trend experienced in other emerging markets. The objective of this paper is to explore the possible innovative elements of a Public-Private Partnership (PPP) in an effort to rekindle the sagging private finance interest in municipal infrastructure in the ECA Region. The contemplated PPP model would involve government, municipalities, Local Infrastructure Investment Trusts, private equity funds and/or turnaround advisors, and International Financial Institutions."
Capital Markets and Non-bank Financial Institutions in Romania
Capital Markets and Non-bank Financial Institutions in Romaniais part of the World Bank Working Paper series. These papers are published to communicate the results of the Bank's ongoing research and to stimulate public discussion. With only three years remaining before joining the European Union, Romania is working hard to improve its capital markets and non-bank financial institutions, which remain less developed than those in other accession countries. Strengthening these sectors has become a top priority for policymakers, whose primary objective is to ensure that the financial system is sufficiently developed to serve the growing demands of the Romanian economy. During 2003 and 2004, the ...
The World Bank Research Program, 2005-2007
This pocket-sized reference on key environmental data for over 200 countries includes key indicators on agriculture, forestry, biodiversity, energy, emission and pollution, and water and sanitation. The volume helps establish a sound base of information to help set priorities and measure progress toward environmental sustainability goals.
Financing Energy Projects in Developing Countries
An update to his comprehensive 1996 text on project finance in emerging economies, Razavi's authoritative new book provides first-hand information and analysis of how multilateral, bilateral, and commercial financiers decide to support an energy project. It presents the major changes in the attitudes and orientations of these financiers as they have entered a competitive environment seeking opportunities to do more business in the energy sector of developing countries. For every good energy project, there is a financier somewhere. However, creating an attractive project package requires an explicit understanding of the following: availability of soft loans, credits, grants, tied and untied l...
Mobilizing Private Finance for Local Infrastructure in Europe and Central Asia
It also reviews investors' attitudes toward future PPI in ECA, drawing on key findings of existing surveys and on anecdotal evidence from interviews with private equity investors."--Jacket.
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