Klaus Schmidt-Hebbel's Books

Colombia's Pension Reform

Fiscal and Macroeconomic Effects

By: Klaus Schmidt-Hebbel

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Colombia's Pension Reform

Fiscal and Macroeconomic Effects

By: Klaus Schmidt-Hebbel

IFC Lessons of Experience No. 1F. This report reviews the experience of the International Finance Corporation (IFC) in its role as advisor and investor in privatization transactions during the past decade. In pursuit of its mandate to further economic development by encouraging the growth of productive private enterprise in developing countries, the IFC has naturally and increasingly been involved in supporting this movement. The premise of the report is that privatization will always be partly based on political considerations, including expected redistribution of wealth and the resulting winners and losers. It discusses the IFC's experience from two perspectives: as an advisor involved before the sale, which illustrates how the IFC assists in the trade-off between political and economic goals to conclude a deal; and after privatization, which discusses the resulting economic benefits. The IFC asserts that its role in privatization is defined by the evolving frontiers of political commitment. Within those frontiers, it can help expand privatization possibilities by performing advisory assignments, providing necessary investments, and developing capital market institutions. The IFC demonstrates that privatization strategies can assume many forms with few set prescriptions. Other language editions: English (ISBN 0-8213-3447-6) Stock No. 13447 Russian -out of print-(ISBN 0-8213-3545-6) Stock No. 13545 Spanish -out of print-(ISBN 0-8213-3451-4) Stock No. 13451.

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World Bank Publications

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ISBN 10

0821335065

ISBN 13

9780821335062

Saving in Latin America and the Caribbean

Performance and Policies

By: Francesco Grigoli,Alexander Herman,Klaus Schmidt-Hebbel

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Saving in Latin America and the Caribbean

Performance and Policies

By: Francesco Grigoli,Alexander Herman,Klaus Schmidt-Hebbel

This paper analyzes saving patterns and determinants in Latin America and the Caribbean (LAC), including key policy variables and regimes. The review of previous empirical studies on LAC saving reveals contradictions and omissions. This paper presents empirical results of an extensive search of determinants of private and public saving rates, adding previously neglected variables (including different measures of key external prices and macroeconomic policy regimes), in linear form and in interactions with other saving determinants. It analyzes statistical differences in saving determinants between LAC and the rest of the world in a nested econometric framework, and discusses differences across three country subgroups within LAC. The results highlight commonalities and differences in saving behavior between LAC and other world regions, as well as within LAC, identifying the role of key policy variables and regimes.

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International Monetary Fund

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ISBN 10

1513575368

ISBN 13

9781513575360

World Saving

By: Francesco Grigoli,Alexander Herman,Klaus Schmidt-Hebbel

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World Saving

By: Francesco Grigoli,Alexander Herman,Klaus Schmidt-Hebbel

This paper presents new evidence on the behavior of saving in the world, by extending previous empirical research in five dimensions. First, it is based on a very large and recent database, covering 165 countries from 1981 to 2012. Second, it conducts a robustness analysis across different estimation techniques. Third, the empirical search is expanded by including potential saving determinants identified by theory but not previously considered in the empirical literature. Fourth, the paper explores differences in saving behavior nesting the 2008-10 crisis period and four different country groups. Finally, it also searches for commonalities and differences in behavior across national, private, household, and corporate saving rates. The results confirm in part existing research, shed light on some ambiguous or contradictory findings, and highlight the role of neglected determinants. Compared to the literature, we find a larger number of significant determinants of saving rates, using different estimators, for different periods and country groups, and for different saving aggregates.

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International Monetary Fund

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1498365140

ISBN 13

9781498365147

Book's by Klaus Schmidt-Hebbel

Colombia's Pension Reform

Colombia's Pension Reform

Saving in Latin America and the Caribbean

Saving in Latin America and the Caribbean

World Saving

World Saving

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