The World Bank Group recently adopted the "cascade framework" to "maximize finance for development." The cascade recommends that reforms be tried first, followed by subsidies, and then public investments. To understand the economics of the cascade, this paper presents a model where reforms, subsidies, and public investments can be used to fill the investment gap, and computes the welfare associated with their different sequencing. The cascade is optimal...
更多显示
详细
-
2018/01/29
-
政策研究报告
-
WPS8320
-
1
-
1
-
2018/01/29
-
Disclosed
-
Optimizing finance for development
-
financing development