This paper examines the channels through
which alternative property rights institutions affect
investment. These institutions are defined by a
society's enforced laws, regulations, governance
mechanisms and norms concerning the use of resources. A
transaction cost framework is used to analyze the incentive
impact of various types of property rights, liability rules,
and rules regarding contracts. This framework is used to

The authors review the applications of noncooperative bargaining theory to water related issues-which fall in the category of formal models of negotiation. They aim to identify the conditions under which agreements are likely to emerge and their characteristics, to support policymakers in devising the "rules of the game" that could help obtain a desired result. Despite the fact that allocation of natural resources, especially trans-boundary allocation, has all the characteristics of a negotiation problem, there are not many applications of formal negotiation theory to the issue.

This Financial Sector Assessment (FSA)
is based on the work of the joint International Monetary
Fund (IMF)- World Bank missions that visited Kenya from July
15 to July 24,2003, and from September 30 to October 15,
2003, in the context of the Financial Sector Assessment
Program (FSAP). The principal objective of the missions was
to assist the Kenyan authorities in assessing the
development needs and opportunities for the financial sector

This report addresses key structural,
institutional, and sectoral policy impediments to achieving
a higher, and sustained economic growth in the sector, and
poverty reduction in rural areas of Iran. It focuses mainly
on an assessment of agricultural development outcomes, a
discussion of the agricultural policy agenda, and provides
recommendations for future policy dialogue between the Bank,
and the Government of Iran. On examining development

For Croatia, the challenge is to create
conditions that will attract investment and produce growth.
These conditions can broadly be categorized as (a) stable,
progressive and predictable laws and institutions; (b)
efficient labor and financial markets; (c) macroeconomic and
financial stability; (d) social and environmental
sustainability; (e) effective integration into the European
infrastructure networks ensuring competitive cost and

This paper looks at the evidence on the
magnitude and impacts of forest illegal acts, examines the
vulnerabilities of the forest sector, and proposes a
strategy for combating forest crime. Forest crime
prominently includes illegal logging but acts against the
law also affect other sector operations such as forest
products transport, industrial processing, and trade. Almost
universally, criminal exploitation of forest products and

This study provides a review of the food
and agricultural sector in Ukraine. It assesses the current
status of the food and agricultural sector with special
reference to the agricultural policy regime and the form and
level of government support to the sector. The paper reviews
the sector's readiness to compete on open global
markets for food and agricultural products. Given the
importance and sensitivity of the food and agriculture

Accelerating rural economic growth and
reducing rural poverty requires a comprehensive strategy
built on sound analysis covering all major aspects o f the
rural economy including agricultural output markets, input
markets (seeds, fertilizer, extension), factor markets
(land, water, labor and credit), the rural non- farm
economy, and targeted interventions. This report focuses on
one aspect o f this complex puzzle - rural factor markets.

This Fisheries Sector Approach Paper has
been written in recognition of the mounting challenges that
the World Bank and the developing world face in meeting the
fishery sector-related Millennium Development Goals and the
outcomes of the 2002 World Summit on Sustainable
Development. It augments the Bank's Rural Strategy,
Reaching the Rural Poor, which advocates a holistic approach
to rural poverty reduction, and support for equitable

How do differences in the local business environment influence location of industry within countries? How do the benefits of a good business environment compare with those from good market access and agglomeration economies from industry clustering? The authors examine these questions by analyzing location decisions of individual firms. Using data from a recently completed survey of manufacturing firms in India, they find that both the local business environment and agglomeration economies significantly influence business location choices across cities.

Decentralized forest management is an
important policy issue in India and elsewhere. Yet there are
few careful studies of the impacts of community forestry.
The authors try to fill this gap by analyzing National
Sample Survey data from 524 villages in five states in
India. Their analysis seeks to answer two key questions: (1)
Who participates in community forestry and what are the
determinants of participation? (2) What is the impact of

This volume presents a set of Policy
Notes prepared by the World Bank's Brazil Team with
partners during 2002 as a contribution for the debate of
policies by the new federal and state governments elected in
October 2002. The objectives of making these Policy Notes
available to a broader audience is twofold. It could
contribute to the discussion in Brazil and elsewhere about
public policies to be formulated by the Brazilian