The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent.8 Public good research of the World Bank includes Open Data, Policy Research Working Papers, World Development Report, journal articles, and books, among other things. 9 Over the past 15 years, the World Bank's policy on disclosing information has evolved gradually. Prior to 2010, the World Bank's approach had been to spell out what documents the World Bank discloses. Under the World Bank Policy on Access to Information which became effective on July 1, 2010, the World Bank discloses any information in its possession that is not on a list of exceptions. Documents flagged as "official use only" are disclosed 5 years after preparation, while those flagged "confidential" or "strictly confidential" are disclosed after 20 years. Confidential reports, for example, include reports with information that has been provided by member countries in confidence or analysis that may affect financial marked behavior. 10 These were sometimes simply a single document that was translated into other languages and released under separate budget codes. For these reports, we created one aggregate report identifier since we could not distribute the expenditures linked to a project code across the multiple report numbers. 11 In April 2012, a Programmatic Approach for ESW and TA was introduced to organize AAA of multiple program activities and knowledge products that support a particular program, theme, or engagement area over several fiscal years (World Bank, 2012b). Since our data set is limited to fiscal year 2012, it does not include any reports categorized as programmatic AAA.
Concerns have been raised that the "new normal" — a period of high unemployment, low returns on investment, high risks, and low growth — may become protracted in advanced economies. The world, therefore, needs a growth-lifting strategy. This strategy could take the form of a global infrastructure investment initiative that goes beyond the borders of advanced countries. Economic returns to infrastructure investments are high in developing countries, which have become important drivers of global growth. At the same time, infrastructure investments require capital goods, most of which are produced in high-income countries. Scaling up infrastructure investment in developing countries could, therefore, help generate a virtuous cycle in support of a global recovery.
The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent.
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