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Effective Tax Rates, Firm Size and the Global Minimum Tax
No full textThis paper documents new facts on corporate taxation and the revenue potential of corporate minimum taxes, leveraging firm-level tax returns from 16 countries. First, effective tax rates follow a humped-shaped pattern with firm size: small firms benefit from reduced rates, while large firms take up tax incentives, leaving mid-sized firms with the highest effective rates. On average, the effective tax rate for the largest 1 percent of firms is 2.2 percentage points lower than the average effective tax rate for the top decile of firms. Second, although statutory tax rates are above 15 percent in all sample countries, over a quarter of top firms face an effective rate below 15 percent, challenging the simple tax haven versus non-haven dichotomy. Third, a simple 15 percent domestic minimum tax for the top 1 percent firms could raise corporate taxes by 14 percent on average across countries, absent behavioral responses. In contrast, the global minimum top-up tax would only raise a quarter of this revenue due to its generous deductions and smaller number of firms in scope
Tajikistan Country Climate and Development Report
No full textThe World Bank Group’s Country Climate and Development Reports (CCDRs) are a core diagnostic that integrates climate change and development. They help countries prioritize the most impactful actions that can reduce greenhouse gas (GHG) emissions and boost adaptation and resilience, while delivering on broader development goals. CCDRs build on data and rigorous research and identify main pathways to reduce GHG emissions and climate vulnerabilities, including the costs and challenges as well as benefits and opportunities from doing so. The reports suggest concrete, priority actions to support the low-carbon, resilient transition. As public documents, CCDRs aim to inform governments, citizens, the private sector and development partners and enable engagements with the development and climate agenda. CCDRs feed into other core Bank Group diagnostics, country engagements and operations, and help attract funding and direct financing for high-impact climate action.The World Bank Group’s Country Climate and Development Reports (CCDRs) are a core diagnostic that integrates climate change and development. They help countries prioritize the most impactful actions that can reduce greenhouse gas (GHG) emissions and boost adaptation and resilience, while delivering on broader development goals. CCDRs build on data and rigorous research and identify main pathways to reduce GHG emissions and climate vulnerabilities, including the costs and challenges as well as benefits and opportunities from doing so. The reports suggest concrete, priority actions to support the low-carbon, resilient transition. As public documents, CCDRs aim to inform governments, citizens, the private sector and development partners and enable engagements with the development and climate agenda. CCDRs feed into other core Bank Group diagnostics, country engagements and operations, and help attract funding and direct financing for high-impact climate action.The World Bank Group’s Country Climate and Development Reports (CCDRs) are a core diagnostic that integrates climate change and development. They help countries prioritize the most impactful actions that can reduce greenhouse gas (GHG) emissions and boost adaptation and resilience, while delivering on broader development goals. CCDRs build on data and rigorous research and identify main pathways to reduce GHG emissions and climate vulnerabilities, including the costs and challenges as well as benefits and opportunities from doing so. The reports suggest concrete, priority actions to support the low-carbon, resilient transition. As public documents, CCDRs aim to inform governments, citizens, the private sector and development partners and enable engagements with the development and climate agenda. CCDRs feed into other core Bank Group diagnostics, country engagements and operations, and help attract funding and direct financing for high-impact climate action.The Tajikistan Country Climate and Development Report (CCDR) explores the impact of climate change and global decarbonization on Tajikistan’s development. It identifies key areas to enhance climate resilience and deepen decarbonization and outlines priority recommendations for a successful green transition in Tajikistan, requiring structural reforms, climate-conscious policies, and inclusive strategies for a resilient and sustainable future.
Despite economic growth and poverty reduction over the past two decades, Tajikistan's reliance on natural resources and remittances has led to unsustainable development, depleting natural capital and limiting job creation. The government’s green transition plan focuses on renewable energy, promising energy security, economic growth, and regional electricity exports. However, further efforts are needed for a resilient development path, including a complementary reform program to bring significant economic benefits, climate adaptation, and low-carbon development that will benefit Tajikistan and Central Asia's electricity systems.
Climate change poses significant risks, threatening water security, agricultural productivity, and infrastructure, potentially reducing GDP per capita by 5-6% by mid-century and pushing 100,000 people into poverty. Additional adaptation measures are crucial, focusing on water management, resilient landscapes, climate-smart agriculture, and disaster risk management. A low-carbon development pathway offers a more resilient and prosperous future, with near net-zero emissions in energy and waste sectors by 2050, boosting economic growth, and job creation and reducing air pollution. Achieving these goals requires substantial investments and institutional reforms to mobilize private capital and attract green foreign investment. Development partners can provide financial assistance, technical expertise, and capacity building
Construyendo las Bases para un Crecimiento Renovado, más Diversificado e Inclusivo
No full textThe focus of this Country Economic Memorandum (CEM) is to review key policy and reform options for Equatorial Guinea to build the foundations for renewed, diversified, and more inclusive growth. The CEM thus aims to contribute to the government’s economic development and diversification agendas. The first chapter of the report examines the drivers of past growth, and the country’s asset portfolio, and discusses possible long-term growth trajectories. The second chapter examines fiscal policy as the main instrument for efficient transformation of natural capital into physical and human capital, and outlines the fiscal challenges associated with the reliance on the volatile oil and gas markets. It identifies the key gaps in public financial management, including the challenges posed by climate change and provides reform options for implementing an effective fiscal policy. The third chapter explores the present state of education, health, and social protection and discusses priority options to boost human capital. The fourth chapter then turns to the private sector and the main cross-cutting issues that need to be addressed to encourage higher investment, innovation, and productivity. The final chapter drills down into some key sectors which are likely to play a prominent role in any new growth strategy. These include digitalization in both the public and private sectors, and integration into the world economy through trade and ecotourism.El enfoque de este Memorando Económico de País (CEM) es revisar opciones clave de política y reforma a fin de que Guinea Ecuatorial siente las bases para un crecimiento renovado, diversificado y más inclusivo. De este modo, el CEM busca contribuir a las agendas de desarrollo y diversificación económica del gobierno. El primero capítulo del CEM examina los impulsores del crecimiento pasado y la cartera de activos del país, y analiza posibles trayectorias de crecimiento a largo plazo. El segundo capítulo examina la política fiscal como el principal instrumento para la transformación eficiente del capital natural en capital físico y humano, y describe los desafíos fiscales asociados con la dependencia de los volátiles mercados de petróleo y gas. Identifica las brechas clave en la gestión de las finanzas públicas, incluidos los desafíos que plantea el cambio climático, y proporciona opciones de reforma para implementar una política fiscal eficaz. El tercer capítulo explora el estado actual de la educación, la salud y la protección social, y analiza opciones prioritarias para impulsar el capital humano. El cuarto capítulo posteriormente se vuelca en el sector privado y las principales cuestiones transversales que deben abordarse para fomentar una mayor inversión, innovación y productividad. El capítulo final profundiza en algunos sectores clave que probablemente desempeñarán un papel destacado en cualquier estrategia nueva de crecimiento. Estos incluyen la digitalización tanto en el sector público como el privado, y la integración a la economía mundial a través del comercio y el ecoturismo
Towards a Taxonomy of the Poor in Pakistan
No full textPoor households are heterogeneous in the circumstances preventing an improvement in their welfare. It is important to understand the nuances within different types of poor households so that critical pathways out of poverty that remedy the variegated sets of constraints they face can be identified and acted on through policy action. This paper attempts to categorize the bottom 40th consumption percentile of households (B40) in Pakistan into different non-overlapping groups using a non-parametric hierarchical cluster analysis, which allows for an empirically driven taxonomy of the poor in the country. Using data from the Household Integrated Economic Survey (HIES) 2018-19, we identify five groups among the B40 and explore their salient household and occupational attributes through the lens of an asset framework of shared prosperity
FY2024 Burundi Country Opinion Survey Report
No full textThe Country Opinion Survey in Burundi
assists the World Bank Group (WBG) in better understanding
how stakeholders in Burundi perceive the WBG. It provides
the WBG with systematic feedback from national and local
governments, multilateral/bilateral agencies, media,
academia, the private sector, and civil society in Burundi
on 1) their views regarding the general environment in
Burundi; 2) their overall attitudes toward the WBG in
Burundi; 3) overall impressions of the WBG’s effectiveness
and results, knowledge work and activities, and
communication and information sharing in Burundi; and 4)
their perceptions of the WBG’s future role in Burundi
Expanding Community Health Services in Mozambique
No full textIn low-income countries, formal health systems are stretched thin, and rural and underserved areas often lack adequate primary healthcare coverage, delaying essential interventions and leaving populations vulnerable to preventable diseases. Mozambique was no exception. The country had particularly poor health outcomes among its peers, with high rates of stunting (40%) and malnutrition, as well as one of the highest rates of child marriage and adolescent fertility in the world. Its share of deaths from communicable diseases and maternal, perinatal, and nutritional conditions was 62% – three times the global average. Only half of births were attended by a skilled professional, and the neonatal mortality rate was 27.9 per 1,000 live births. But the problem went beyond reach and access: providers had weak competencies, clinical guidelines were often not adhered to, and there were high levels of dropout for child immunization. To improve health outcomes, Mozambique would have to increase both coverage and quality of service
Building Digital Jobs in the Caribbean Bit by Bit
No full textThe Caribbean region faces a growing youth employment challenge, as outdated infrastructure and limited digital skills continue to constrain economic opportunities and resilience. For much of the last decade, dependence on legacy copper networks led to high prices, low bandwidth, and widespread coverage gaps. Schools lacked the internet capacity to serve large student populations, and slow speeds eroded the competitiveness of key industries like tourism. Education systems also rarely emphasize digital competencies as a core outcome. At the same time, emerging IT and IT enabled services (ITES) sectors struggled with underdeveloped broadband infrastructure and a shortage of job-ready talent, limiting the region’s ability to attract investment. Women and young people were particularly affected, with fewer accessible pathways to build digital skills or launch tech-driven enterprises. The COVID-19 pandemic reinforced the need for reliable connectivity and market-relevant information and communication technology (ICT) training to support remote learning, employment, and entrepreneurship - especially in marginalized groups
Baseline Technical Note Using EdTech Readiness Index (ETRI) 2022
No full textThe onset of COVID-19 pandemic in 2020 highlighted the importance of digital technologies for remote learning and building better education technology (Edtech) ecosystem in the country. The 5-Year Education Sector Plan (ESP 2022-2026) developed in post pandemic period sets out ICT education goals for all levels of the education system in Sierra Leone, connecting essential attributes of schools, learners, and teachers with desired learning outcomes. A key objective of the ESP is to enhance the use of data and technology to improve the learning environment and service delivery. Currently, a national digital learning strategy is being developed by EdTech Hub in partnership with the World Bank, Ministry of Basic and Senior Secondary Education (MBSSE), and Teaching Service Commission (TSC). ETRI rated the Sierra Leonean education system’s readiness to adopt educational technology as low. This assessment highlights the state of practices and policies across the six pillars of ETRI in 2022. The findings reveal a significant lack of policies aimed at integrating technology in education, accompanied by minimal on-the-ground technology usage. This underscores a substantial opportunity for improvement within the Sierra Leonean EdTech ecosystem
Investing in Early Childhood Development for Transformation of Human Capital in Uganda
Get PDFThe Ugandan economy continues to demonstrate resilience. Inflation in Uganda has significantly decreased, falling below the central bank’s target. On the external side, the current account deficit remained high despite some moderation due to improved merchandise trade performance. Fiscal consolidation efforts continue but need more focus on domestic revenue mobilization (DRM) to mitigate negative impacts on priority expenditures like human capital investment. The medium-term outlook for Uganda remains broadly positive, with significant downside risks. Human capital - the knowledge, skills, and physical health that enable people to be productive - will play a pivotal role in improving Uganda’s long term potential growth, especially for creating more jobs in non-oil sectors. The special topic of Uganda Economic Update (UEU) 24 focuses on the critical importance of early childhood development (ECD) for Uganda’s present and future prosperity. Early childhood is the most critical period for human capital formation, because this is when people acquire fundamental cognitive, social, and emotional skills that are essential for future productivity. Given the rapid pace of brain development in early life, investments in ECD are more effective and cost-efficient than attempting to make up for missed opportunities later
Impact au niveau national des programmes de protection sociale adaptative au Sahel
Get PDFIn the Sahel, Adaptive Social Protection (ASP) is a set of social protection policies, systems, and programs that promote human capital, productivity, and resilience of the poorest and strengthen their capacity to prepare for, cope with, and adapt to shocks. Through the delivery of regular social safety nets, productive inclusion interventions, and shock-responsive programs, ASP has demonstrated strong positive impacts on various dimensions in the Sahel. For the poorest and most vulnerable, it has resulted in improvements in household welfare and food security, productivity, and resilience. More broadly, it has shown significant positive impacts on the economy, society, and future generations.Au Sahel, la Protection Sociale Adaptative (PSA) est un ensemble de politiques, systèmes et programmes de protection sociale qui renforcent le capital humain, la productivité et la résilience des plus pauvres, tout en améliorant leur capacité à se préparer, faire face et s’adapter aux chocs. Grâce à la mise en place de filets sociaux réguliers, d’interventions d’inclusion productive et de programmes réactifs aux chocs, la PSA a démontré des impacts positifs significatifs sur diverses dimensions du bien-être au Sahel. Pour les plus pauvres et les plus vulnérables, elle a permis des améliorations du bien-être des ménages, de la sécurité alimentaire, de la productivité et de la résilience. Plus largement, elle a montré des effets positifs importants sur l’économie, la société et les générations futures