Investing in Human Capital
This paper compiles project-level data from the World Bank's lending history to describe patterns and the composition of its portfolio. The paper focuses particularly on the effect of countries' transition from International Development Association to International Bank for Reconstruction and Development status, which marks the point when countries start borrowing at near market rates, on lending for human development sectors (education, health and social protection). Using country and year fixed effects, which account for unobservable country characteristics (for example, national priorities) and time effects (for example, market interest rates), the paper finds that human development lending decreases when countries graduate from the International Development Association. The average difference in the binary indicator of lending for any sector is 27 percent while it is 60 percent for human development sectors. The share of human development lending (lending by human development Global Practices over total lending) is also 6.9 percentage points (30 percent) lower. This decline in human development lending in International Bank for Reconstruction and Development countries is accompanied by a greater use of budget support. The results are robust to controlling for non-World Bank aid, as well as various alternative specifications and estimation samples.
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Format: | Working Paper biblioteca |
Language: | English |
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World Bank, Washington, DC
2019-01
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Subjects: | HUMAN CAPITAL, AID ALLOCATION, WORLD BANK PORTFOLIO, WORLD BANK LENDING, HUMAN DEVELOPMENT, IDA GRADUATION, |
Online Access: | http://documents.worldbank.org/curated/en/388051548251274535/Investing-in-Human-Capital-What-Can-We-Learn-from-the-World-Banks-Portfolio-Data https://hdl.handle.net/10986/31184 |
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dig-okr-10986311842024-08-09T07:16:32Z Investing in Human Capital What Can We Learn from the World Bank's Portfolio Data? Mohpal, Aakash Gatti, Roberta HUMAN CAPITAL AID ALLOCATION WORLD BANK PORTFOLIO WORLD BANK LENDING HUMAN DEVELOPMENT IDA GRADUATION This paper compiles project-level data from the World Bank's lending history to describe patterns and the composition of its portfolio. The paper focuses particularly on the effect of countries' transition from International Development Association to International Bank for Reconstruction and Development status, which marks the point when countries start borrowing at near market rates, on lending for human development sectors (education, health and social protection). Using country and year fixed effects, which account for unobservable country characteristics (for example, national priorities) and time effects (for example, market interest rates), the paper finds that human development lending decreases when countries graduate from the International Development Association. The average difference in the binary indicator of lending for any sector is 27 percent while it is 60 percent for human development sectors. The share of human development lending (lending by human development Global Practices over total lending) is also 6.9 percentage points (30 percent) lower. This decline in human development lending in International Bank for Reconstruction and Development countries is accompanied by a greater use of budget support. The results are robust to controlling for non-World Bank aid, as well as various alternative specifications and estimation samples. 2019-01-31T23:29:58Z 2019-01-31T23:29:58Z 2019-01 Working Paper Document de travail Documento de trabajo http://documents.worldbank.org/curated/en/388051548251274535/Investing-in-Human-Capital-What-Can-We-Learn-from-the-World-Banks-Portfolio-Data https://hdl.handle.net/10986/31184 English Policy Research Working Paper;No. 8716 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank application/pdf text/plain World Bank, Washington, DC |
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Biblioteca del Banco Mundial |
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topic |
HUMAN CAPITAL AID ALLOCATION WORLD BANK PORTFOLIO WORLD BANK LENDING HUMAN DEVELOPMENT IDA GRADUATION HUMAN CAPITAL AID ALLOCATION WORLD BANK PORTFOLIO WORLD BANK LENDING HUMAN DEVELOPMENT IDA GRADUATION |
spellingShingle |
HUMAN CAPITAL AID ALLOCATION WORLD BANK PORTFOLIO WORLD BANK LENDING HUMAN DEVELOPMENT IDA GRADUATION HUMAN CAPITAL AID ALLOCATION WORLD BANK PORTFOLIO WORLD BANK LENDING HUMAN DEVELOPMENT IDA GRADUATION Mohpal, Aakash Gatti, Roberta Investing in Human Capital |
description |
This paper compiles project-level data
from the World Bank's lending history to describe
patterns and the composition of its portfolio. The paper
focuses particularly on the effect of countries'
transition from International Development Association to
International Bank for Reconstruction and Development
status, which marks the point when countries start borrowing
at near market rates, on lending for human development
sectors (education, health and social protection). Using
country and year fixed effects, which account for
unobservable country characteristics (for example, national
priorities) and time effects (for example, market interest
rates), the paper finds that human development lending
decreases when countries graduate from the International
Development Association. The average difference in the
binary indicator of lending for any sector is 27 percent
while it is 60 percent for human development sectors. The
share of human development lending (lending by human
development Global Practices over total lending) is also 6.9
percentage points (30 percent) lower. This decline in human
development lending in International Bank for Reconstruction
and Development countries is accompanied by a greater use of
budget support. The results are robust to controlling for
non-World Bank aid, as well as various alternative
specifications and estimation samples. |
format |
Working Paper |
topic_facet |
HUMAN CAPITAL AID ALLOCATION WORLD BANK PORTFOLIO WORLD BANK LENDING HUMAN DEVELOPMENT IDA GRADUATION |
author |
Mohpal, Aakash Gatti, Roberta |
author_facet |
Mohpal, Aakash Gatti, Roberta |
author_sort |
Mohpal, Aakash |
title |
Investing in Human Capital |
title_short |
Investing in Human Capital |
title_full |
Investing in Human Capital |
title_fullStr |
Investing in Human Capital |
title_full_unstemmed |
Investing in Human Capital |
title_sort |
investing in human capital |
publisher |
World Bank, Washington, DC |
publishDate |
2019-01 |
url |
http://documents.worldbank.org/curated/en/388051548251274535/Investing-in-Human-Capital-What-Can-We-Learn-from-the-World-Banks-Portfolio-Data https://hdl.handle.net/10986/31184 |
work_keys_str_mv |
AT mohpalaakash investinginhumancapital AT gattiroberta investinginhumancapital AT mohpalaakash whatcanwelearnfromtheworldbanksportfoliodata AT gattiroberta whatcanwelearnfromtheworldbanksportfoliodata |
_version_ |
1807159555616931840 |