Suchergebnisse

The literature in financial history usually considers London as the only centre of the late 19th century's financial globalization, and explains it at least in part by the efficient microstructure (organization) of the London Stock Exchange (LSE). The LSE is characterized as having been a little regulated market, where entry was easy both for traders and issuers [Michie (1998), Neal (2004), White (2006)]. The LSE microstructure is also considered as the natural and optimal one by much of the theoretical literature on stock markets, which argues that free entry decreases transaction costs and increases both liquidity and diversification, resulting in economies of scale attracting traders, issuers and buyers. Our paper tries to explain why the Paris Bourse was able to be so successful in spite of the supposedly inefficient monopoly and regulations that the State imposed it. We focus on the fact that the Paris market actually included several different market places: the Parquet (the official Bourse, organized by the agents de change), the Coulisse, the Marché libre, and inter-bank direct operations. We argue that this multi-polar organization, was efficient, relying on the specialization it allowed, and the complementarities it helped develop among markets. We incorporate in the discussion the recent theoretical literature that shows that no single market can satisfy the heterogeneous preferences of all issuers and investors, so that a multi-polar organization can be a superior solution. We demonstrate our claim by looking not only at the rules but also at the actual functioning of the Parquet thanks to its archives which we recently classified. These archives also allow us to build new statistical series which permit evaluating the performances of the Parquet during the 19th century: volumes traded, seat prices, transaction costs, and operational risks. If one supposes that the Parquet was the least efficient segment of the Parisian market, this will provide us with a lower bound for the global efficiency of that market, which should be compared with other markets on similar concrete grounds. ; L'histoire financière explique souvent le succès de Londres comme marché financier dominant au 19ème siècle par les microstructures efficaces de la Bourse de Londres (LSE). Le LSE se caractérise en particulier par une faible régulation, l'entrée libre des opérateurs, ce qui permettrait de réduire les coûts de transaction, d'accroître la liquidité et la diversification, attirant à la fois émetteurs et investisseurs. Nous montrons que les microstructures londoniennes ne sont pas nécessairement optimales et que des microstructures très différentes ont permis le succès de la Bourse de Paris, loin de l'idée reçue selon laquelle cette place aurait été victime d'un interventionnisme inefficace ou d'un monopole hostile à toute innovation. Nous étudions en détail l'organisation du Parquet parisien et ses complémentarités avec la Coulisse, le marché libre et les opérations des banques. Nous montrons qu'une telle organisation multi-polaire était efficace car elle permettait une spécialisation des agents (aussi bien intermédiaires qu'émetteurs et investisseurs) et des complémentarités qui permettaient au marché de joindre développement et stabilité. Grâce à l'usage des archives de la Bourse de Paris, nous pouvons construire des données sur les volumes échangés, les prix des charges, les coûts de transaction et les risques qui permettront à ce débat de prendre un tour plus empirique que jusqu'à présent.

This article describes how the Trade Facilities Act (TFA) and the liquidation of certain government-owned assets spurred the industrial intervention of the Bank of England in the 1920s. What emerges is a much greater role of the Treasury in the Bank of England's industrial intervention than has been hitherto suggested. This essay places the theme of the Bank of England's industrial intervention within the broader discussions about Treasury history and Britain's post-war reconstruction, and refines the argument that the original involvement of the Bank of England with industry merely represented an extension of its pre-war operations of branch banking and its duties as a central bank. ; Cet article décrit comment le Trade Facilities Act (TFA) et la liquidation d'actifs possédés par l'Etat conduisirent à une intervention de la Banque d'Angleterre dans l'industrie dans les années 1920. Y apparaît un rôle beaucoup plus grand du Trésor dans les interventions industrielles de la Banque d'Angleterre que ce que suggérait l'historiographie jusqu'à présent. Cet article montre que ces interventions représentent à la fois la prolongation des opérations de banque de réseau que la Banque menait avant-guerre et la prise en compte de ses obligations de banque centrale.

The literature in financial history usually considers London as the only centre of the late 19th century's financial globalization, and explains it at least in part by the efficient microstructure (organization) of the London Stock Exchange (LSE). The LSE is characterized as having been a little regulated market, where entry was easy both for traders and issuers [Michie (1998), Neal (2004), White (2006)]. The LSE microstructure is also considered as the natural and optimal one by much of the theoretical literature on stock markets, which argues that free entry decreases transaction costs and increases both liquidity and diversification, resulting in economies of scale attracting traders, issuers and buyers. Our paper tries to explain why the Paris Bourse was able to be so successful in spite of the supposedly inefficient monopoly and regulations that the State imposed it. We focus on the fact that the Paris market actually included several different market places: the Parquet (the official Bourse, organized by the agents de change), the Coulisse, the Marché libre, and inter-bank direct operations. We argue that this multi-polar organization, was efficient, relying on the specialization it allowed, and the complementarities it helped develop among markets. We incorporate in the discussion the recent theoretical literature that shows that no single market can satisfy the heterogeneous preferences of all issuers and investors, so that a multi-polar organization can be a superior solution. We demonstrate our claim by looking not only at the rules but also at the actual functioning of the Parquet thanks to its archives which we recently classified. These archives also allow us to build new statistical series which permit evaluating the performances of the Parquet during the 19th century: volumes traded, seat prices, transaction costs, and operational risks. If one supposes that the Parquet was the least efficient segment of the Parisian market, this will provide us with a lower bound for the global efficiency of that ...

This paper aims at giving an explanation of the changes in the number of bankruptcies during the second part of the 19th century and the beginning of the 20th. We wonder in particular whether changes in bankruptcy law, which are substantial during the period, suffice to explain the rise in the proportion of bankrupted firms. We first describe the main features and changes of French insolvency law and show that they contradict the evolution observed at the aggregate level. We then show that existing statistics, which include a regional dimension, allow for a better test of the impact of legal changes. We show that some legal changes had a significant impact, but not all. We also observe that regional variations in bankruptcies are huge and do not correspond to French economic geography, but may rather be understood as a diffusion process from the Paris Court towards the provinces. The major differences among regions also suggest that, even in a civil law country, the letter the law is much less important than local practices.

This publication reports on the devolution and growth in community-based resource that is taking place in the Philippines. The authors suggest effective, innovative approaches for enabling local governments to manage resources.

Policies and procedures to resolve bank failures have evolved significantly in Argentina since the introduction of currency convertibility in 1991, and particularly in reaction to the 1995 tequila crisis, which exposed the inadequacy of the bank exit framework in place then. The author reviews the institutional changes introduced in Argentina in 1995 to handle bank failures more effectively, particularly the creation of the deposit guarantee scheme and the procedural framework for resolving bank failures, embedded in Article 35 of the Financial Institutions Law. This framework enables the Central Bank to carve out the assets and privileged liabilities of the failing bank and transfer them to sound banks, thereby sending only a residual balance sheet to judicial liquidation. Subsequent refinements in the application of Article 35 procedures eventually led to current Argentine practice. The author examines this practice in detail by considering the handling of the recent failure of Banco Almafuerte. The author assesses a number of issues that arise from the Argentine model of bank failure resolution, taking into account both country-specific circumstances and more general concepts and concerns. He emphasizes the potential tradeoffs between reducing contagion risk, limiting moral hazard, and avoiding unnecessary destruction of asset value; the implications of priority-of-claims rules and least-cost criteria; the pros and cons of alternative organizational and institutional arrangements; and the need for legal security. Finally, he outlines two prototypical approaches to striking a balance between rules and discretion, an issue underlying much of the ongoing policy discussion on alternative bank exit frameworks.

This paper sketches a macroeconomic scenario for China for 2010-20. Growth accounting exercise finds that, with both the working population and total factor productivity on course to decelerate, potential gross domestic product (GDP) growth is likely to moderate in the coming 10 years, despite still sizeable capital deepening. Actual GDP should grow broadly as fast as potential GDP, continuing the track record since the late 1990s. With some rebalancing expected, the share of consumption in GDP is likely to bottom out and to rise somewhat through 2015 while the share of investment edges down. Robust economic growth in China would support imports. Meanwhile, given the outlook for the world economy, the share of exports in GDP may decline in 2010-2015 despite good competitiveness. As a result, the trade surplus may diminish relative to the size of China's economy. Even so, the external surplus will continue to rise in US dollar terms, especially the current account. In 2020 China's GDP per capita will be broadly comparable to the current level in Latin America, Turkey, and Malaysia. Adjusted for purchasing power, in 2020 China's GDP per capita will be one-fourth of the US level and China's total economy larger than that of the US. The pace of catch up in current prices and market exchange rates will depend on the extent of real exchange rate (RER) appreciation. Past experience internationally suggests that, with a large portion of labor employed in agriculture, RER appreciation may be modest in the coming decade. However, demographic changes may speed up the tightening of the labor market and trend RER appreciation. Reflecting this uncertainty, two scenarios are presented, suggesting China may become the largest economy on this metric sometime between 2020 and 2030.

Industry affiliation provides an important channel through which trade liberalization can affect worker earnings and wage inequality between skilled and unskilled workers. This empirical study of the impact of the 1988-94 trade liberalization in Brazil on the industry wage structure suggests that although industry affiliation is an important component of worker earnings, the structure of industry wage premiums is relatively stable over time. There is no statistical association between changes in industry wage premiums and changes in trade policy or between industry-specific skill premiums to university graduates and trade policy. Thus trade liberalization in Brazil did not significantly contribute to increased wage inequality between skilled and unskilled workers through changes in industry wage premiums. The difference between these results and those obtained for other countries (such as Colombia and Mexico) provides fruitful ground for studying the conditions under which trade reforms do not have an adverse effect on industry wage differentials

v. 750. V -- Vallejo L -- v. 751. Vallejo M -- Vans -- v. 752. Vänt -- Vážn -- v. 753. Vazo -- Venezuela Com -- v. 754. Venezuela Con -- Vereim -- v. 755. Verein -- Vers L -- v. 756. Vers M -- Victor M -- v. 757. Victor O -- Vigd -- v. 758. Vige -- Vinea -- v. 759. Vineb -- Vision R -- v. 760. Vision S -- Voice C -- v. 761. Voice D -- Voso -- v. 762. Vosp -- Vz -- v. 763. W -- Wagner, Richard A -- v. 764. Wagner, Richard B -- Walker, William F -- v. 765. Walker, William G -- Walz -- v. 766. Wam -- Ward A -- v. 767. Ward B -- Warsh -- v. 768. Warsi -- Waso -- v. 769. Wasp -- Water Supply Engineering B -- v. 770. Water Supply Engineering C -- Weak -- v. 771. Weal -- Wedk -- v. 772. Wedl -- Welc -- v. 773. Weld -- Wenzel R -- v. 774. Wenzel S -- West Virginia I -- v. 775. West Virginia J -- Whare -- v. 776. Wharf -- White E -- v. 777. White F -- Whittier L -- v. 778. Whittier M -- Wijg -- v. 779. Wijh -- William B -- v. 780. William C -- Willis S -- v. 781. Willis T -- Wimh -- v. 782. Wimi -- Winters G -- v. 783. Winters H -- Wit and Humor, American R -- v. 784. Wit and Humor, American S -- Woh -- v. 785. Woi -- Woman-Employment-U.S.T -- v. 786. Woman-Employment-U.S.U -- Wood G -- v. 787. Wood H -- Woold -- v. 788. Woole -- World Politics, 1919- T -- v. 789. World Politics, 1919- U -- World War, 1939-1945 EC -- v. 790. World War, 1939-1945 ED -- World War, 1939-1945 Ph -- v. 791. World War, 1939-1945 Pi -- World War, 1939-1945 Regional C -- v. 792. World War, 1939-1945 Regional D -- Wright G -- v. 793. Wright H -- Wz -- v. 794. X -- Yeast V -- v. 795. Yeast W -- Young C -- v. 796. Young D -- Yz -- v. 797. Z -- Zehn J -- v. 798. Zehn K -- Zimmerman C -- v. 799. Zimmerman D -- Zoology A -- v. 800. Zoology B -- Zy. ; v. 730. U -- Underdeveloped Areas A -- v. 731. Underdeveloped Areas B -- Union of South Africa So -- v. 732. Union of South Africa Sp -- United States Adu -- v. 733. United States Adv -- United States Army R -- v. 734. United States Army S -- United States Commerce C -- v. 735. United States Commerce D -- United States Division S -- v. 736. United States Division T -- United States Foreign Relations R -- v. 737. United States Relations S -- United States Historic -- v. 738. United States History -- United States History-Revolution-Poetry S -- v. 739. United States History-Revolution-Poetry T -- United States History-Civil War-Military-Regimental History L -- v. 740. United States History-Civil War-Military-Regimental History M -- United States History-Yearbooks -- v. 741. United States Ho -- United States Justice Department Ac -- v. 742. United States Justice Department Ad -- United States National Aeronautic and Space Administration R -- v. 743. United States National Aeronautic and Space Administration S -- United States Politics, 1865-1897 J -- v. 744. United States Politics, 1865-1897 K -- United States Rac -- v. 745. United States Rad -- United States State Department P -- v. 746. United States State Department Q -- United States War Information Office A -- v. 747. United States War Information Office B -- Université S -- v. 748. Université T -- Urban O -- v. 749. Urban P -- Uz. ; v. 703. T -- Tall -- v. 704. Talm -- Tariff I -- v. 705. Tariff J -- Taxation-Jurisprudence F -- v. 706. Taxation-Jurisprudence G -- Taylor Jer -- v. 707. Taylor Jes -- Tecn -- v. 708. Teco -- Television C -- v. 709. Television D -- Tena -- v. 710. Tenb -- Tess -- v. 711. Test -- Textile Machinery S -- v. 712. Textile Machinery T -- Their -- v. 713. Theis -- Thern -- v. 714. Thero -- Thomas V -- v. 715. Thomas W -- Thorpe B -- v. 716. Thorpe C -- Tidev -- v. 717. Tidew -- Tires -- v. 718. Tiret -- Tokio G -- v. 719. Tokio H -- Torl -- v. 720. Torm -- Towards E -- v. 721. Towards F -- Trade Unions G -- v. 722. Trade Unions H -- Transcendentalism B -- v. 723. Transcendentalism C -- Treason-Trials H -- v. 724. Treason-Trials I -- Trial -- v. 725. Triam -- Trotzky, Lev G -- v. 726. Trotzky, Lev H -- Tube R -- v. 727. Tube S -- Turin C -- v. 728. Turin D -- Tuw -- v. 729. Tux -- Tz. ; v. 636. S -- Safe -- v. 637. Saff -- Saint Louis G -- v. 638. Saint Louis H -- Saler -- v. 639. Sales -- Salvation Army R -- v. 640. Salvation Army S -- Sanchez L -- v. 641. Sanchez M -- Sans -- v. 642. Sant -- Sarl -- v. 643. Sarm -- Savar -- v. 644. Savas -- Schaa -- v. 645. Schab -- Schid -- v. 646. Schie -- Schmidt B -- v. 647. Schmidt C -- Scholl S -- v. 648. Scholl T -- Schopf E -- v. 649. Schopf F -- Schulze F -- v. 650. Schulze G -- Science Col -- v. 651. Science Com -- Scoa -- v. 652. Scob -- Scott -- v. 653. Scotu -- Seals and Seal Fisheries C -- v. 654. Seals and Seal Fisheries D -- Sedl -- v. 655. Sedm -- Sell -- v. 656. Selm -- Sericulture A -- v. 657. Sericulture B -- Sever G -- v. 658. Sever H -- Shakers L -- v. 659. Shakers M -- Shakespeare A -- v. 660. Shakespeare B -- Sheldon S -- v. 661. Sheldon T -- Shipping G -- v. 662. Shipping H -- Shórn -- v. 663. Shoro -- Shrub -- v. 664. Shruc -- Sigg -- v. 665. Sigh -- Simek -- v. 666. Simel -- Singing Q -- v. 667. Singing R -- Skinner B -- v. 668. Skinner C -- Slavs B -- v. 669. Slavs C -- Smith A -- v. 670. Smith B -- Smith, William A -- v. 671. Smith, William B -- Social D -- v. 672. Social E -- Socialism, 1923-1933 H -- v. 673. Socialism, 1923-1933 I -- Societe Al -- v. 674. Société AM -- Societies R -- v. 675. Societies S -- Sociology T -- v. 676. Sociology U -- Solís -- v. 677. Solit -- Sonh -- v. 678. Soni -- Sousa A -- v. 679. Sousa B -- Southgate V -- v. 680. Southgate W -- Spain-Foreign Relations F -- v. 681. Spain-Foreign Relations G -- Spanish America-History-to 1600 -- v. 682. Spanish America-History-after 1600 -- Speech O -- v. 683. Speech P -- Spirit F -- v. 684. Spirit G -- Spuc -- v. 685. Spud -- Stage-France O -- v. 686. Stage-France P -- Stanford R -- v. 687. Stanford S -- Statement F -- v. 688. Statement G -- Sted -- v. 689. Stee -- Stel -- v. 690. Stem -- Stevenson I -- v. 691. Stevenson J -- Stockholders F -- v. 692. Stockholders G -- Storg -- v. 693. Storh -- Straus D -- v. 694. Straus E -- Struc -- v. 695. Strud -- Stuer -- v. 696. Stues -- Sueb -- v. 697. Suec -- Summ -- v. 698. Sumn -- Surim -- v. 699. Surin -- Swan H -- v. 700. Swan I -- Swey -- v. 701. Swez -- Symbolism in Architecture R -- v. 702. Symbolism in Architecture S -- Sz. ; v. 603. Q -- Quek -- v. 604. Quel -- Qw -- v. 605. R -- Radio in Politics B -- v. 606. Radio in Politics C -- Railways Ab -- v. 607. Railways Ac -- Railways D -- v. 608. Railways E -- Rak -- v. 609. Ral -- Rape -- v. 610. Rapf -- Raymond V -- v. 611. Raymond W -- Recei -- v. 612. Récéj -- Reed V -- v. 613. Reed W -- Régim -- v. 614. Regin -- Reiner I -- v. 615. Reiner J -- Religion I -- v. 616. Religion J -- Rentm -- v. 617. Rentn -- Retail Trade R -- v. 618. Retail Trade S -- Revue S -- v. 619. Revue T -- Rhodesia, Northern L -- v. 620. Rhodesia, Northern M -- Richl -- v. 621. Richm -- Rihs -- v. 622. Riht -- Ritter C -- v. 623. Ritter D -- Roads-U.S.M -- v. 624. Roads-U.S.N -- Robinson J -- v. 625. Robinson K -- Rodrigues G -- v. 626. Rodrigues H -- Rolfe F -- v. 627. Rolfe G -- Rome (City)-P -- v. 628. Rome (City)-Q -- Rord -- v. 629. Rore -- Ross C -- v. 630. Ross D -- Rousseau L -- v. 631. Rousseau M -- Roźd -- v. 632. Roze -- Rul -- v. 633. Rum -- Russia Ar -- v. 634. Russia As -- Russia-Social Conditions, 1917 K -- v. 635. Russia-Social Conditions, 1917 L -- Rz. ; v. 548. P -- Pagg -- v. 549. Pagh -- Paintings-Collections R -- v. 550. Paintings-Collections S -- Paleography L -- v. 551. Paleography M -- Palmer K -- v. 552. Palmer L -- Pann -- v. 553. Pano -- Pap -- v. 554. Paq -- Paris E -- v. 555. Paris F -- Parkh -- v. 556. Parki -- Parties, Political D -- v. 557. Parties, Political E -- Patd -- v. 558. Paté -- Paul J -- v. 559. Paul K -- Pearce C -- v. 560. Pearce D -- Pei -- v. 561. Pej -- Pennsylvania F -- v. 562. Pennsylvania G -- Pén [i.e. Pénz] -- v. 563. Peo -- Periodicals C -- v. 564. Periodicals D -- Periodicals-U.S.I -- v. 565. Periodicals-U.S.J -- Persia C -- v. 566. Persia D -- Peru -- v. 567. Perv -- Petri R -- v. 568. Petri S -- Pfeiffer E -- v. 569. Pfeiffer F -- Philip G -- v. 570. Philip H -- Philology S -- v. 571. Philology T -- Phok -- v. 572. Phol -- Phrom -- v. 573. Phron -- Picb -- v. 574. Picc -- Pik -- v. 575. Pil -- Pioneer Life-U.S.V -- v. 576. Pioneer Life-U.S.W -- Pittsburgh S -- v. 577. Pittsburgh T -- Plas -- v. 578. Plat -- Plup -- v. 579. Pluq -- Poetry, American A -- v. 580. Poetry, American B -- Poetry, American Wis -- v. 581. Poetry, American, Wit -- Poetry, Dutch S -- v. 582. Poetry, Dutch T -- Poetry, English, Hist. & Crit., 20th Cent. C -- v. 583. Poetry, English, Hist. & Crit., 20th Cent. D -- Poetry, Hungarian A -- v. 584. Poetry, Hungarian, B -- Poetry, Spanish P -- v. 585. Poetry, Spanish Q -- Poland F -- v. 586. Poland G -- Polish Literature, Hist. & Crit. O -- v. 587. Polish Literature, Hist. & Crit. P -- Polska Akademja Umiejetnosci A -- v. 588. Polska Akademja Umiejetnosci B -- Popar -- v. 589. Popas -- Portrait S -- v. 590. Portrait T -- Postage Stamps R -- v. 591. Postage Stamps S -- Poula -- v. 592. Poulb -- Pram -- v. 593. Pran -- Press, Liberty of H -- v. 594. Press, Liberty of I -- Prier -- v. 595. Pries -- Printing G -- v. 596. Printing H -- Privies N -- v. 597. Privies O -- Proj -- v. 598. Prok -- Protection V -- v. 599. Protection W -- Prussia-History-Frederick II C -- v. 600. Prussia-History-Frederick II D -- Psyk -- v. 601. Psyl -- Puli -- v. 602. Pulj -- Pyz. ; v. 509. N -- Nan -- v. 510. Nao -- Nash -- v. 511. Nasi -- National C -- v. 512. National D -- National Sh -- v. 513. National Si -- Natural History R -- v. 514. Natural History S -- Naval E -- v. 515. Naval F -- Navy R -- v. 516. Navy S -- Ned -- v. 517. Nee -- Neh -- v. 518. Nei -- Netherlands (Kingdom, 1815- ) O -- v. 519. Netherlands (Kingdom, 1815- ) P -- Neud -- v. 520. Neue -- New England D -- v. 521. New England E -- New K -- v. 522. New L -- New York (city) B -- v. 523. New York (city) C -- New York (city) L -- v. 524. New York (city) M -- New York N -- v. 525. New York O -- New York (state) H -- v. 526. New York (state) I -- New Zealand C -- v. 527. New Zealand D -- Newspapers E -- v. 528. Newspapers F -- Nicol -- v. 529. Nicom -- Ninn -- v. 530. Nino -- Nole -- v. 531. Nolf -- North Am -- v. 532. North An -- Northwestern O -- v. 533. Northwestern P -- Noth -- v. 534. Notti -- Numismatics C -- v. 535. Numismatics D -- Nz -- v. 536. O -- Occupations C -- v. 537. Occupations D -- Oese -- v. 538. Oesf -- Ohio H -- v. 539. Ohio I -- Old L -- v. 540. Old M -- Omaha R -- v. 541. Omaha S -- Oor -- v. 542. Oos -- Oratory R -- v. 543. Oratory S -- Organic R -- v. 544. Organic S -- Orrego L -- v. 545. Orrego M -- Ostl -- v. 546. Ostm -- Outs -- v. 547. Outt -- Oz. ; v. 450. M -- Mccol -- v. 451. Mccom -- Mcgrad -- v. 452. Mcgrae -- Mackenzie G -- v. 453. Mackenzie H -- Macq -- v. 454. Macr -- Maga -- v. 455. Magb -- Maic -- v. 456. Maid -- Malat -- v. 457. Malau -- Maml -- v. 458. Mamm -- Mana -- v. 459. Manb -- Mannk -- v. 460. Mannl -- Many -- v. 461. Manz -- Marc -- v. 462. Mard -- Maris -- v. 463. Marit -- Marriage F -- v. 464. Marriage G -- Martens E -- v. 465. Martens F -- Martr -- v. 466. Marts -- Masc -- v. 467. Masd -- Massachusetts I -- v. 468. Massachusetts J -- Mathematics K -- v. 469. Mathematics L -- Matthews D -- v. 470. Matthews E -- Max -- v. 471. May -- Meb -- v. 472. Mec -- Medic -- v. 473. Medid -- Mej -- v. 474. Mek -- Memory R -- v. 475. Memory S -- Meq -- v. 476. Mer -- Merv -- v. 477. Merw -- Meteorology C -- v. 478. Meteorology D -- Metropolitan M -- v. 479. Metropolitan N -- Mexico G -- v. 480. Mexico H -- Meyk -- v. 481. Meyl -- Mich -- v. 482. Mici -- Mikn -- v. 483. Mikó -- Military L -- v. 484. Military M -- Milla -- v. 485. Millb -- Milton L -- v. 486. Milton M -- Mines and Mining G -- v. 487. Mines and Mining H -- Mirac -- v. 488. Mirad -- Missions, Foreign E -- v. 489. Missions, Foreign F -- Mitb -- v. 490. Mitc -- Modn -- v. 491. Modo -- Moll -- v. 492. Molm -- Money F -- v. 493. Money G -- Monof -- v. 494. Monog -- Monteiro L -- v. 495. Monteiro M -- Mónu -- v. 496. Monv -- Mord -- v. 497. More -- Morl -- v. 498. Morm -- Morse E -- v. 499. Morse F -- Motd -- v. 500. Mote -- Mountaineering M -- v. 501. Mountaineering N -- Moving Pictures R -- v. 502. Moving Pictures S -- Mufs -- v. 503. Muft -- Municipal C -- v. 504. Municipal D -- Murk -- v. 505. Murl -- Music B -- v. 506. Music C -- Music T -- v. 507. Music U -- Mutt -- v. 508. Mutu -- Mz. ; v. 414. L -- Labor G -- v. 415. Labor H -- Labour Party, Gt. Br. D -- v. 416. Labour Party, Gt. Br. E -- Lagd -- v. 417. Lage -- Lamm -- v. 418. Lamn -- Land, Public-U.S.N -- v. 419. Land, Public-U.S.O -- Lang O -- v. 420. Lang P -- Lapk -- v. 421. Lapl -- Latg -- v. 422. Lath -- Latth -- v. 423. Latti -- Law S -- v. 424. Law T -- Law, Maritime A -- v. 425. Law, Maritime B -- Leadh -- v. 426. Leadi -- Lebn -- v. 427. Lebo -- Lefk -- v. 428. Lefl -- Lehm -- v. 429. Lehn -- Lenc -- v. 430. Lend -- Leroy E -- v. 431. Leroy F -- Letters E -- v. 432. Letters F -- Levn -- v. 433. Levo -- Liberalism K -- v. 434. Liberalism L -- Libraries (Place) N -- v. 435. Libraries (Place) O -- Lich -- v. 436. Lici -- Lighthouses H -- v. 437. Lighthouses I -- Lincoln A -- v. 438. Lincoln B -- Lior -- v. 439. Lios -- Literature P -- v. 440. Literature Q -- Living Expenses G -- v. 441. Living Expenses H -- Locomotives A -- v. 442. Locomotives B -- Loll -- v. 443. Lolm -- London U -- v. 444. London V -- Lord R -- v. 445. Lord S -- Louis XVI -- v. 446. Louis XVII -- Lowe S -- v. 447. Lowe T -- Ludwig O -- v. 448. Ludwig P -- Lutg -- v. 449. Luth -- Lz. ; v. 363. I -- Idn -- v. 364. Ido -- Illumination of Books and Manuscripts S -- v. 365. Illumination of Books and Manuscripts T -- Impos -- v. 366. Impot -- Independence D -- v. 367. Independence E -- India, History E -- v. 368. India, History F -- Indians, Central America, Tribes L -- v. 369. Indians, Central America, Tribes M -- Indians, North America S -- v. 370. Indians, North America T -- Indib -- v. 371. Indić -- Industrial Arts (Place) E -- v. 372. Industrial Arts (Place) F -- Industries (Place) U -- v. 373. Industries (Place) V -- Inl -- v. 374. Inm -- Institut M -- v. 375. Institut N -- Insurance I -- v. 376. Insurance J -- Intellectuals (Place) F -- v. 377. Intellectuals (Place) G -- International Ch -- v. 378. International Ci -- International LaC -- v. 379. International Lad -- Internationalism B -- v. 380. Internationalism C -- Iowa R -- v. 381. Iowa S -- Irish L -- v. 382. Irish M -- Isa -- v. 383. Isb -- Italian Language H -- v. 384. Italian Language I -- Italy, History to 1815 -- v. 385. Italy, History-After 1815 -- Iz -- v. 386. J -- Jagem -- v. 387. Jagen -- Jansen T -- v. 388. Jansen U -- Jard -- v. 389. Jaré -- Jels -- v. 390. Jelt -- Jesuits and Jesuitism U -- v. 391. Jesuits and Jesuitism V -- Jews, Anti-Semitic Writings M -- v. 392. Jews, Anti-Semitic Writings N -- Jews So -- v. 393. Jews Sp -- Johnm -- v. 394. Johnn -- Jolk -- v. 395. Joll -- Jorg -- v. 396. Jorh -- Journey B -- v. 397. Journey C -- Juk -- v. 398. Jul -- Juvenile Literature, Drama, American C -- v. 399. Juvenile Literature, Drama, American D -- Jz -- v. 400. K -- Kampe -- v. 401. Kampf -- Karo -- v. 402. Karp -- Keem -- v. 403. Keen -- Kennedy J -- v. 404. Kennedy K -- Kets -- v. 405. Kett -- Kinf -- v. 406. King -- Kirr -- v. 407. Kirs -- Kloo -- v. 408. Klop -- Kobd -- v. 409. Kobe -- Kolor -- v. 410. Kolos -- Kor -- v. 411. Kos -- Kreus -- v. 412. Kreut -- Kuer -- v. 413. Kues -- Kz. ; v. 330. H -- Hahm -- v. 331. Hahn -- Hall J -- v. 332. Hall K -- Hamilton J -- v. 333. Hamilton K -- Handwriting R -- v. 334. Handwriting S -- Harbors M -- v. 335. Harbors N -- Harper V -- v. 336. Harper W -- Hartmann K -- v. 337. Hartmann L -- Hathaway E -- v. 338. Hathaway F -- Hawkins L -- v. 339. Hawkins M -- Heart's T -- v. 340. Hearts U -- Hegel H -- v. 341. Hegel I -- Heller J -- v. 342. Heller K -- Henry of K -- v. 343. Henry of L -- Heredity R -- v. 344. Heredity S -- Hertling O -- v. 345. Hertling P -- Hibben S -- v. 346. Hibben T -- Hiller F -- v. 347. Hiller G -- Historia A -- v. 348. Historia B -- History, General-18th Century Works B -- v. 349. History, General-18th Century Works C -- Hodge B -- v. 350. Hodge C -- Hog -- v. 351. Hoh -- Holr -- v. 352. Hols -- Hond -- v. 353. Hone -- Horn L -- v. 354. Horn M -- Hot R -- v. 355. Hot S -- Housing-Working Class H -- v. 356. Housing-Working Class I -- Howl -- v. 357. Howm -- Hughes F -- v. 358. Hughes G -- Humo -- v. 359. Hump -- Hunting N -- v. 360. Hunting O -- Hut -- v. 361. Huu -- Hygiene, Public L -- v. 362. Hygiene, Public M -- Hyz. ; v. 291. G -- Gall L -- v. 292. Gall M -- Gandía E -- v. 293. Gandía F -- Gardiner G -- v. 294. Gardiner H -- Gases A -- v. 295. Gases B -- Gazs -- v. 296. Gazt -- General E -- v. 297. General F -- Geography As -- v. 298. Geography At -- Geology O -- v. 299. Geology P -- Geometry S -- v. 300. Geometry T -- Gerk -- v. 301. Gerl -- German Literature S -- v. 302. German Literature T -- Germany C -- v. 303. Germany D -- Germany-History 1847 -- v. 304. German-History 1848 -- Gerom -- v. 305. Geron -- Giac -- v. 306. Giad -- Gilds G -- v. 307. Gilds H -- Girk -- v. 308. Girl -- Glay -- v. 309. Glaz -- Godf -- v. 310. Godg -- Gold Mines and Mining-Al -- v. 311. Gold Mines and Mining-Am -- Gol [i.e. Golz] -- v. 312. Gom -- Gook -- v. 313. Gool -- Goula -- v. 314. Goulb -- Grad -- v. 315. Grae -- Grang -- v. 316. Granh -- Great Britain I -- v. 317. Great Britain J -- Great Britain-Description and Travel,1800-1850 -- v. 318. Great Britain-Description and Travel, 1850-1900 -- Great Britain-Govt. B -- v. 319. Great Britain-Govt. C -- Great Britain-Hist., 19th cent. F -- v. 320. Great Britain-Hist.,19th cent. G -- Great Britain-Politics, 1660-1714 R -- v. 321. Great Britain-Politics, 1660-1714 S -- Great Britain-Trade, Board of U -- v. 322. Great Britain-Trade, Board of V -- Greece (Modern)-History, 1830 M -- v. 323. Greece (Modern)-History, 1830 N -- Greene H -- v. 324. Greene I -- Grey N -- v. 325. Grey O -- Grog -- v. 326. Groh -- Grunds -- v. 327. Grundt S -- Gueu -- v. 328. Guev -- Gumo -- v. 329. Gump -- Gzow. ; v. 249. F -- Fairs F -- v. 250. Fairs G -- Fans -- v. 251. Fant -- Fascism-Germany B -- v. 252. Fascism-Germany C -- Fearh -- v. 253. Feari -- Felln -- v. 254. Fello -- Ferrari -- v. 255. Ferrarj -- Fev -- v. 256. Few -- Fiction, American Ham -- v. 257. Fiction, American Han -- Fiction, American Will -- v. 258. Fiction, American Wilm -- Fiction, Dutch A -- v. 259. Fiction, Dutch B -- Fiction, English Kim -- v. 260. Fiction, English Kin -- Fiction, Flemish L -- v. 261. Fiction, Flemish M -- Fiction, German A -- v. 262. Fiction, German B -- Fiction, Lettish J -- v. 263. Fiction, Lettish K -- Fiction, Swiss-German B -- v. 264. Fiction, Swiss-German C -- Filmr -- v. 265. Films -- Finance, U.S., 1813 -- v. 266. Finance, U.S., 1814 -- Finland R -- v. 267. Finland S -- Fischa -- v. 268. Fischb -- Fishing A -- v. 269. Fishing B -- Flanders G -- v. 270. Flanders H -- Flora F -- v. 271. Flora G -- Flya -- v. 272. Flyb -- Folklore N -- v. 273. Folklore O -- Fond -- v. 274. Fone -- Før N -- v. 275. For O -- Forestry-Germany S -- v. 276. Forestry-Germany T -- Forter -- v. 277. Fortes -- Fourm -- v. 278. Fourn -- France Ar -- v. 279. France As -- France-Foreign Relations R -- v. 280. France-Foreign Relations S -- France-History-Revolution O -- v. 281. France-History-Revolution P -- France-Statistics M -- v. 282. France-Statistics N -- Frank E -- v. 283. Frank F -- Frederick I, King of Prussia -- v. 284. Frederick II, King of Prussia -- Freemasons P -- v. 285. Freemasons Q -- French Language-Dictionaries D -- v. 286. French Language-Dictionaries E -- Fresco Paintings B -- v. 287. Fresco Paintings C -- Friends, Society of. L -- v. 288. Friends, Society of. M -- Früh [i.e. Fruh] -- v. 289. Frui -- Funck J -- v. 290. Funck K -- Fyz. ; v. 214. E -- Eastern Col -- v. 215. Eastern Com -- Ecole B -- v. 216. Ecole C -- Economic History-Chile F -- v. 217. Economic History-Chile G -- Economic History I -- v. 218. Economic History J -- Economic History-U.S.F -- v. 219. Economic History-U.S.G -- Economics, 1848-1889 E -- v. 220. Economics, 1848-1889 F -- Edel -- v. 221. Edem -- Education E -- v. 222. Education F -- Education O -- v. 223. Education P -- Education-U.S.-N.J.T -- v. 224. Education-U.S.-N.J.U -- Egypt C -- v. 225. Egypt D -- Eisenstein I -- v. 226. Eisenstein J -- Electric M -- v. 227. Electric N -- Electrons B -- v. 228. Electrons C -- Ellis S -- v. 229. Ellis T -- Emigration, Canada N -- v. 230. Emigration, Canada O -- Enchanted R -- v. 231. Enchanted S -- Engineering Ch -- v. 232. Engineering Ci -- English Language-Dictionaries G -- v. 233. English Language-Dictionaries H -- English Literature S -- v. 234. English Literature T -- Epitaphs T -- v. 235. Epitaphs U -- Ero -- v. 236. Erp -- Espl -- v. 237. Espm -- Essays P -- v. 238. Essays R -- Ethics G -- v. 239. Ethics H -- Etr -- v. 240. Ets -- Europe-History H -- v. 241. Europe-History I -- European War, Aerial Operations M -- v. 242. European War, Aerial Operations N -- European War, Economic Aspects Germany K -- v. 243. European War, Economic Aspects Germany L -- European War, Neutrality R -- v. 244. European War, Neutrality S -- European War, Regimental History F -- v. 245. European War, Regimental History G -- European War, Great Britain G -- v. 246. European War, Great Britain H -- Evero -- v. 247. Everp -- Exhibitions C -- v. 248. Exhibitions D -- Ez. ; v. 177. D -- Dale C -- v. 178. Dale D -- Dancing F -- v. 179. Dancing G -- Danzig G -- v. 180. Danzig H -- Dauw -- v. 181. Daux -- Dawn -- v. 182. Dawo -- Debray -- v. 183. Debraz -- Defei -- v. 184. Defel -- Delaware C -- v. 185. Delaware D -- Democracy-U.S.B -- v. 186. Democracy-U.S.C -- Denton, Name [i.e. Denton (Name)] -- v. 187. Denton, County [i.e. Denton County] -- Desmares -- v. 188. Desmaret -- Deutsche J -- v. 189. Deutsche K -- Dewar M -- v. 190. Dewar N -- Dickens, Charles F -- v. 191. Dickens, Charles G -- Dikes H -- v. 192. Dikes I -- Disaster Relief B -- v. 193. Disaster Relief C -- Divo -- v. 194. Divr -- Dog L -- v. 195. Dog M -- Donato L -- v. 196. Donato M -- Douglas P -- v. 197. Douglas R -- Drama, American A -- v. 198. Drama, American B -- Drama, American Mi -- v. 199. Drama, American Mo -- Drama C -- v. 200. Drama D -- Drama, English Hol -- v. 201. Drama, English Hom -- Drama, English Translations From . R -- v. 202. Drama, English Translations From . S -- Drama, French J -- v. 203. Drama, French K -- Drama, German Bas -- v. 204. Drama, German Bat -- Drama, German, Low German D -- v. 205. Drama, German, Low German E -- Drama, L -- v. 206. Drama, M -- Drama, Spanish Ger -- v. 207. Drama, Spanish Ges -- Drama, Walloon W -- v. 208. Drama, Walloon X -- Dreu -- v. 209. Drev -- Dublin U -- v. 210. Dublin V -- Duke O -- v. 211. Duke P -- Duper -- v. 212. Dupes -- Dutch Language D -- v. 213. Dutch Language E -- Dz. ; v. 107. C -- Cah -- v. 108. Cai -- Cale -- v. 109. Calf -- California V -- v. 110. California W -- Cameron, I -- v. 111. Cameron, J -- Canada B -- v. 112. Canada C -- Canada Statistics Bureau M -- v. 113. Canada Statistics Bureau N -- Canaq -- v. 114. Canar -- Capeh -- v. 115. Capei -- Cardif -- v. 116. Cardig -- Carm -- v. 117. Carn -- Carrik -- v. 118. Carril -- Case A -- v. 119. Case B -- Castles R -- v. 120. Castles S -- Cathedrals S -- v. 121. Cathedrals T -- Catholic Church Roman L -- v. 122. Catholic Church Roman M -- Cauch -- v. 123. Cauci -- Cement and Concrete M -- v. 124. Cement and Concrete P -- Ceo -- v. 125. Cep -- Chah -- v. 126. Chai -- Chand -- v. 127. Chane -- Charities I -- v. 128. Charities J -- Charz -- v. 129. Chas -- Chemical Industries I -- v. 130. Chemical Industries J -- Chemm -- v. 131. Chemn -- Chicago B -- v. 132. Chicago C -- Children AC -- v. 133. Children AD -- Chile T -- v. 134. Chile U -- Chinese A -- v. 135. Chinese B -- Christ L -- v. 136. Christ M -- Christianity E -- v. 137. Christianity F -- Church Al -- v. 138. Church Am -- Church I -- v. 139. Church J -- Chyz -- v. 140. Ci -- Cities-Plans-D -- v. 141. Cities-Plans-E -- Civil R -- v. 142. Civil S -- Claq -- v. 143. Clar -- Classification K -- v. 144. Classification L -- Clergy F -- v. 145. Clergy G -- Club T -- v. 146. Club U -- Cobb -- v. 147. Cobd -- Coi -- v. 148. Coj -- Collection K -- v. 149. Collection L -- Collim -- v. 150. Collin -- Colonies and Colonization A -- v. 151. Colonies and Colonization B -- Columbia University Q -- v. 152. Columbia University R -- Coml -- v. 153. Comm -- Commerce Am -- v. 154. Commerce An -- Commerce-New York -- v. 155. Commerce-New Zealand -- Commis -- v. 156. Commit -- Competition-Unfair F -- v. 157. Competition-Unfair G -- Cone -- v. 158. Conf -- Congres H -- v. 159. Congres I -- Conr -- v. 160. Cons -- Continuation L -- v. 161. Continuation M -- Cookery B -- v. 162. Cookery C -- Cooperation S -- v. 163. Cooperation T -- Copyright M -- v. 164. Copyright N -- Coronations G -- v. 165. Coronations H -- Cortazar C -- v. 166. Cortazar D -- Cotner T -- v. 167. Cotner U -- Country Life-United States -- v. 168. Country Life-Uruguay -- Cowper W -- v. 169. Cowper Family -- Creation-Biblical Account-H -- v. 170. Creation-Biblical Account-I -- Criminal H -- v. 171. Criminal I -- Crip -- v. 172. Criq -- Crosby G -- v. 173. Crosby H -- Cua -- v. 174. Cub -- Cunningham A -- v. 175. Cunningham B -- Cux -- v. 176. Cuy -- Cz. ; v. 52. B -- Bader -- v. 53. Bades -- Baker, I -- v. 54. Baker, J -- Ballads, E -- v. 55. Ballads, F -- Banco P -- v. 56. Banco R -- Banks and Banking-Gt. Br. S -- v. 57. Banks and Banking-Gt. Br. T -- Baptists-U -- v. 58. Baptists-V -- Barlac -- v. 59. Barlad -- Barry, I -- v. 60. Barry, J -- Basr -- v. 61. Bass -- Baud -- v. 62. Baue -- Beac -- v. 63. Bead -- Beck -- v. 64. Becl -- Beh -- v. 65. Bei -- Belk -- v. 66. Bell -- Bend -- v. 67. Bene -- Benz -- v. 68. Beo -- Berlin F -- v. 69. Berlin G -- Berr -- v. 70. Bers -- Bet -- v. 71. Beu -- Bible. Zulu -- v. 72. Bible. Selections -- Bible. N.T.: Crit -- v. 73. Bible. N.T.-D -- Bible. O.T. Pr -- v. 74. Bible. O.T. Ps -- Bibliography-O -- v. 75. Bibliography-P -- Bibliotheca O -- v. 76. Bibliotheca P -- Bik -- v. 77. Bil -- Bio -- v. 78. Bip -- Bisl -- v. 79. Bism -- Blai -- v. 80. Blaj -- Blis -- v. 81. Blit -- Bob -- v. 82. Boc -- Bog -- v. 83. Boh -- Bolr -- v. 84. Bols -- Bolz -- v. 85. Bom -- Bon -- v. 86. Boo -- Bool -- v. 87. Boom -- Bor -- v. 88. Bos -- Botany-R -- v. 89. Botany-S -- Bouq -- v. 90. Bour -- Boyd -- v. 91. Boye -- Bram -- v. 92. Bran -- Brazil D -- v. 93. Brazil E -- Brer -- v. 94. Bres -- Brid -- v. 95. Brie -- British E -- v. 96. British F -- Brom -- v. 97. Bron -- Brov -- v. 98. Brow -- Brt -- v. 99. Bru -- Bryc -- v. 100. Bryd -- Budget-E -- v. 101. Budget F -- Building C -- v. 102. Building D -- Bulle -- v. 103. Bullf -- Burgf -- v. 104. Burgg -- Burrow, M -- v. 105. Burrow, N -- Buss -- v. 106. Bust -- Bz. ; v. 1. A -- Aben -- v. 2. Abeo -- Académie de F -- v. 3. Académie du G -- Achm -- v. 4. Achn -- Adams, D -- v. 5. Adams, E -- Ador -- v. 6. Adós -- Aeronautics-Ac -- v. 7. Aeronautics-Ad -- Aesoph -- v. 8. Aesopi -- Africa, So -- v. 9. Africa, Sp -- Agar -- v. 10. Agas -- Agriculture-Economics-F -- v. 11. Agriculture-Economics-G -- Agriculture-C [i.e. Agriculture (Place) C] -- v. 12. Agriculture-D [i.e. Agriculture (Place) D] -- Air-E -- v. 13. Air-F -- Alabam -- v. 14. Alaban -- Alcaraz, Em -- v. 15. Alcaraz, En -- Alexan, F -- v. 16. Alexan, G -- Aliens-H -- v. 17. Aliens-I -- Allied J -- v. 18. Allied K -- Alphabet, S -- v. 19. Alphabet, T -- Alz -- v. 20. Am -- America M -- v. 21. America-N -- American Fab -- v. 22. American Fac -- American Languages-Q -- v. 23. American Languages-R -- American Pio -- v. 24. American Pip -- Americans in L -- v. 25. Americans in M -- Amy -- v. 26. Amz -- Anderson, S -- v. 27. Anderson T -- Angle S -- v. 28. Angle T -- Annal -- v. 29. Annam -- Anthon -- v. 30. Anthoo -- Apar -- v. 31. Apas -- Aqueb -- v. 32. Aquec -- Arauco, C -- v. 33. Arauco D -- Architectural D -- v. 34. Architectural E -- Architecture, Ecclesiastical-F -- v. 35. Architecture, Ecclesiastical-G -- Arens -- v. 36. Arent -- Aristoc -- v. 37. Aristod -- Armitage, R -- v. 38. Armitage, S -- Army, R -- v. 39. Army, S -- Arres -- v. 40. Arret -- Art-Essays and Misc. G -- v. 41. Art-Essays and Misc. H -- Art Per [i.e. Art Pers]-- v. 42. Art, Peru -- Arz -- v. 43. As -- Assat -- v. 44. Assau -- Assz -- v. 45. Ast -- Athenaeum I -- v. 46. Athenaeum L -- Attention M -- v. 47. Attention N -- Auq -- v. 48. Aurauco D -- Austria B -- v. 49. Austria-C -- Authorship T -- v. 50. Authorship U -- Auy -- v. 51. Auz -- Az. ; Mode of access: Internet.

This paper analyzes the relations between leadership, the policy making process, policies and institutions, and development results in Chile. It starts with a stylized model for the dynamics of development that derives a Kuznets type relation between growth and distribution of income, determined by the quality of leadership, the policy making process, institutions, and policies. This framework is applied to Chile, identifying the features of the policy making process and leadership that allowed for continuation of growth enhancing reform, with a stronger focus on equity goals, since the transition to democracy. As a result of three decades of reforms, Chile has recorded a quantum leap in economic growth, which is traced down to specific reforms. Yet Chile's equity experience is much more mixed: poverty has declined massively but income remains highly concentrated, a likely result of shortcomings in the quality of education and in labor markets. The paper reviews the major risks to the country's future development pace and points out the main reform challenges faced by policy makers.

This report synthesizes data from surveillance, behavioral surveys and published and unpublished research to better understand emerging patterns and trends in the HIV epidemic in Bangladesh. Taking stock of 20 years of experience with HIV in Bangladesh, this report summarizes what is known about the coverage and impact of HIV prevention services, including knowledge on risk and protective behaviors. The report is divided into nine chapters. Chapter one provides a brief introduction and an overview of the methodology used for this exercise. Chapter two discusses the risks and vulnerabilities of the high risk groups including female sex workers, injecting drug users, male who have sex with male, hijra and overlapping populations, while chapter three discusses the trend of the infection amongst partners of high risk groups. Bangladesh continues to report low condom use, which is analyzed and discussed in chapter four. Structural factors including macro level and intermediate level factors that affect HIV interventions in Bangladesh are addressed in chapter five. The national HIV response is discussed in chapter six. The report concludes with a discussion of the main findings, with recommendations for the future in chapter seven, and chapter eight and nine are annexes and references.

This paper analyzes the economic effects of agricultural price and merchandise trade policies around the world as of 2004 on global markets, net farm incomes, and national and regional economic welfare and poverty, using the global economy wide Linkage model, new estimates of agricultural price distortions for developing countries, and poverty elasticity's approach. It addresses two questions: to what extent are policies as of 2004 still reducing rewards from farming in developing countries and thereby adding to inequality across countries in farm household incomes? Are they depressing value added more in primary agriculture than in the rest of the economy of developing countries, and earnings of unskilled workers more than of owners of other factors of production, thereby potentially contributing to inequality and poverty within developing countries (given that farm incomes are well below non-farm incomes in most developing countries and that agriculture there is intensive in the use of unskilled labor)? Results are presented for the key countries and regions of the world and for the world as a whole. They reveal that, by moving to free markets, income inequality between countries will be reduced at least slightly, all but one-sixth of the gains to developing countries will come from agricultural policy reform, unskilled workers in developing countries the majority of whom work on farms will benefit most from reform, net farm incomes in developing countries will rise by 6 percent compared with 2 percent for non-agricultural value added, and the number of people surviving on less than US$1 a day will drop 3 percent globally.

Beginning in the late 1980s many developing countries turned to the private sector to provide basic infrastructure and utility services, such as highways, railroads, water, wastewater, electricity, gas, and telecommunications. Recent studies suggest that private involvement often benefited customers and reduced government fiscal problems without harming employees or enriching private providers excessively. There were enough high-profile failures, however, to discredit this reform in many quarters. Private involvement is likely to be more successful if it generates real efficiency gains rather than simply transferring costs among parties, if the systems of regulating the private companies are politically sensitive as well as technically competent, if the costs and constraints of private capital are not excessive, and if we are willing to adopt more modest and gradual schemes in difficult circumstances.

Real Gross Domestic product (GDP) in Thailand is projected to grow at 5.0 percent in 2008, driven by recovery in domestic demand. The key reason for the strengthened growth this year is the higher confidence of both consumers and investors with the return of democracy and the election of a new government late in 2007. Last year's better than-expected growth of 4.8 percent was due to buoyant export performance throughout the year even as domestic consumption and investment declined amidst the uncertain political environment and sudden shifts in policy. But this year, the opposite is likely. The external current account may weaken slightly in 2008, as the global downturn slows exports and robust domestic demand stimulates imports. Private investment should recover after its slump last year. Recovery in private consumption and investment could be fragile as there remain large down side risks to their growth, but could be mitigated by additional fiscal stimulus. In addition to the short-term measures have been introduced by the government to mitigate risks this year and next, longer term measures are needed to sustain Thailand's growth and poverty alleviation.