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World Bank Group Engagement in Resource-Rich Developing Countries : The Cases of the Plurinational State of Bolivia, Kazakhstan, Mongolia, and Zambia

EMPLOYMENT SAVINGS RATIO CAPITAL MARKETS FINANCIAL SERVICES REGULATORY FRAMEWORK ECONOMIC GROWTH ACCOUNTING DEPOSITS URBANIZATION ENVIRONMENTAL DEGRADATION URBAN SERVICES FINANCIAL MANAGEMENT FISCAL DEFICITS INTEREST LAWS GUARANTEES PRIVATIZATION INDUSTRY RESOURCE MANAGEMENT BALANCE OF PAYMENTS LOCAL GOVERNMENTS STRATEGIES FINANCIAL RESOURCES SERVICES PUBLIC SERVICES HOUSING POLITICAL ECONOMY REVENUES FISCAL POLICY CAPITAL ADEQUACY BUDGET CONSTRAINTS PRICING PROJECTS SUSTAINABLE DEVELOPMENT SAVING INFLATION AUDITS MUNICIPALITIES SAFETY NETS BUDGET MACROECONOMIC STABILITY PUBLIC POLICY EXPLOITATION OIL PRICES SAVINGS TECHNICAL ASSISTANCE LABOR COSTS OIL EFFECTIVE GOVERNANCE TRANSPORT RESOURCE MOBILIZATION PRODUCTIVITY MIGRATION TRANSFERS FINANCIAL INSTITUTIONS CRITERIA DEBT MARKETS FINANCIAL CRISES DEFICITS CAPITAL REQUIREMENTS LEGISLATION PUBLIC FINANCE BUDGET DEFICITS LABOR LOANS ENTERPRISES NATURAL RESOURCES SUBSIDIES REAL SECTOR LEGAL FRAMEWORK FINANCE GRANTS INFRASTRUCTURE TAXES BANKING SECTOR BANKS RESOURCES EQUITY SOCIAL SAFETY NETS ACCOUNTABILITY INTERNATIONAL RESERVES WAGES SOCIAL SERVICES FINANCIAL STABILITY VALUE PENSIONS BANK CREDIT DEMAND CPI EQUITY INVESTMENTS MANAGEMENT INFORMATION SYSTEMS INCOME DISTRIBUTION PUBLIC EXPENDITURES CAPITALIZATION FINANCIAL PERFORMANCE ENVIRONMENTS PROPERTY MANDATES FISCAL YEAR ENVIRONMENT MONETARY POLICIES URBAN DEVELOPMENT PUBLIC DEBT SUBSIDIARY RISK FACTORS CREDIT RISK GOVERNANCE RENT CONTROL INSURANCE TAXATION MICROFINANCE LAND ACCOUNTING STANDARDS RISK COMMERCIAL BANKS FISCAL REFORM URBAN ECONOMY FINANCIAL MARKETS TAX ADMINISTRATION DECENTRALIZATION INSTITUTIONAL DEVELOPMENT REVENUE LENDING BANKING SUPERVISION ENTREPRENEURSHIP ENVIRONMENTAL GOVERNMENTS HEALTH SERVICES PRICES NONPERFORMING LOANS AUDITING DEBT RELIEF CONSOLIDATION
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World Bank, Washington, DC
Africa | East Asia and Pacific | Europe and Central Asia
2016-01-07T16:43:09Z | 2016-01-07T16:43:09Z | 2015

This report by the Independent Evaluation Group (IEG) summarizes the experiences of and draws lessons from the country program evaluations of four natural resource-rich countries: the Plurinational State of Bolivia, Kazakhstan, Mongolia, and Zambia. It concludes that although the challenges identified in these countries are not unique, they manifest themselves with particular intensity in three closely interrelated areas that need to be defined and structured as a coherent strategy: (i) management of revenues from an exhaustible resource; (ii) growth and employment in the non-extractive sectors, and (iii) inclusive growth and reduction of poverty. Overall, looking at the four resource-rich countries in this evaluation, one does not see the World Bank Group as having a consistent framework for engagement, driven by the defining characteristics of these countries—their rich endowment with non-renewable natural resources and dependence on revenues from their exploitation. Each of the four stories evolved in a unique way that depended on how the country teams decided to react to differing country circumstances. The main challenge for the Bank Group in these countries today is how to stay relevant and competitive, as its value proposition is no longer its financial resources, but its knowledge and global experience, which may call for a more modest scope of interventions while keeping the focus on key challenges.

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