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PRWP

Reproducibility package for Learning At Scale Infrastructure, Aid Effectiveness, And World Bank Performance

2026
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Reference ID
RR_WLD_2026_654
DOI
https://doi.org/10.60572/dgnw-p873
Author(s)
Maria Vagliasindi, Somik Lall, Xinyi Su
Collections
World Bank Policy Research Working Papers
Metadata
JSON
Created on
May 18, 2026
Last modified
May 27, 2026
Page views
4
Downloads
3
  • Project Description
  • Downloads
  • Overview
  • Reproducibility Package
  • Description
  • Scope and coverage
  • Disclaimer
  • Access and rights
  • Contacts
  • Information on metadata
  • Citation
  • Overview

    Abstract

    This paper re-examines aid effectiveness using ex-post Economic Rates of Return (ERR) from 2,500 World Bank–financed infrastructure projects over six decades. Three facts emerge. First, average value creation is high: the mean ERR is 24% (median 18.5%). Second, returns rise over time: after relative stability through the mid‑1980s, ERRs increase from the late 1980s onward, consistent with improved selection, design, and delivery. Third, ERRs are systematically higher in countries with weak institutions. In such countries, high quality World Bank performance is associated with about a 12‑point increase in average ERRs. A plausible mechanism is talent deployment: higher‑quality Task Team Leaders are disproportionately assigned to the most challenging contexts and are linked to faster time‑to‑effectiveness and higher ERRs, despite longer, more intensive implementation. Overall, alongside country fundamentals, World Bank performance and talent deployment materially raise returns to scarce capital—especially where governance is weak.

    Reproducibility Package

    Scripts
    Readme Get Reproducibility Package
    Link: https://reproducibility.worldbank.org/catalog/557/download/1676/README.pdf
    Reproducibility package for Learning At Scale Infrastructure, Aid Effectiveness, And World Bank Performance
    File name
    RR_WLD_2026_654
    Zip package
    RR_WLD_2026_654.zip
    Title
    Reproducibility package for Learning At Scale Infrastructure, Aid Effectiveness, And World Bank Performance
    Date
    2026-05
    Dependencies
    Stata dependencies are listed in the ado folder.
    Instructions
    See README in reproducibility package.
    Notes
    Computational reproducibility verified by Development Impact (DECDI) Analytics team, World Bank.
    Source code repository
    Repository name URI
    Reproducible Research Repository (World Bank) https://reproducibility.worldbank.org
    Software
    Stata
    Name
    Stata
    Version
    19.0 MP

    Reproducibility

    Technology environment

    Paper exhibits were reproduced on a computer with the following specifications:
    • OS: Windows 11 Enterprise
    • Processor: INTEL(R) XEON(R) PLATINUM 8562Y+ (2.80 GHz) (4 processors)
    • Memory available: 32 GB

    Technology requirements

    Run time: ~ 5 minutes

    Reproduction instructions

    To reproduce the findings in this paper, a replicator must:

    1. Secure Access to Data: Access the datasets not included in the package. See the Datasets section for more details.
    2. Run the Package:
      • Update the working directory in line 15 of Replication_1-april._final.do, and run it.
      • Update the working directory in line 15 of Replication_2_april_final.do, and run it.

    Since all the original data cannot be redistributed, the package includes the outputs produced by the authors, which can be used to review the results presented in the paper.

    Data

    Datasets
    Economic rates of return Project Database
    Name
    Economic rates of return Project Database
    Note
    Author-compiled dataset created over 9 months starting January 2025, through hand-coding of information from multiple World Bank project sources. The dataset contains three components: (1) Project database covering all completed World Bank infrastructure projects that received an IEG rating, spanning operations approved between 1956 and 2020 and completed between 1963 and 2025. Information extracted from World Bank Archives including Project Appraisal Documents (PADs), Implementation Completion and Result Reports (ICRRs), and restricted Loan Documents containing sensitive financial information (e.g., disbursement milestones, interest rates) from Finance and Treasury; (2) Country database covering country policy and institutional indicators associated with project approval and completion years; (3) TTL database drawing on PADs, ICRRs, Implementation Status and Result Reports (ISRs), as well as restricted HR sources (including confidential HR records, People Pages, and Young Professional Program archives), information shared on a confidential basis by colleagues, and publicly available sources (including LinkedIn). File location:data/ERR raw_final_confidential_forreplicationonly.dta,
    Access policy
    There is no documented way to access the data, and it is not included in the reproducibility package.
    Citation
    Authors' compilation. 2025. "Economic rates of return Project Database" [dataset]. Compiled for Learning At Scale: Infrastructure, Aid Effectiveness, and World Bank Performance. Unpublished data.
    Data statement

    All data is restricted and has not been included in the reproducibility package. For more details, please refer to the README file.

    Description

    Output
    Learning At Scale Infrastructure, Aid Effectiveness, And World Bank Performance
    Type
    Working Paper
    Title
    Learning At Scale Infrastructure, Aid Effectiveness, And World Bank Performance
    Description
    Policy Research Working Papers (PRWP)
    Authors
    Author Affiliation Email
    Maria Vagliasindi World Bank mvagliasindi@worldbank.org
    Somik Lall World Bank slall1@worldbank.org
    Xinyi Su Cambridge University xs308@cam.ac.uk
    Date of production

    2026-05-18

    Scope and coverage

    Geographic locations
    Location Code
    World WLD
    Keywords
    Economic Rates Of Return Infrastructure Aid Effectiveness Fcv World Bank
    Topics
    ID Topic Parent topic ID Vocabulary Vocabulary URI
    D02 Institutions: Design, Formation, Operations, and Impact D0 Journal of Economic Literature (JEL)
    D61 Allocative Efficiency; Cost-Benefit Analysis D6 Journal of Economic Literature (JEL)
    F35 Foreign Aid F3 Journal of Economic Literature (JEL)
    H43 Project Evaluation; Social Discount Rate H4 Journal of Economic Literature (JEL)
    O22 Project Analysis O2 Journal of Economic Literature (JEL)

    Disclaimer

    Disclaimer

    The materials in the reproducibility packages are distributed as they were prepared by the staff of the International Bank for Reconstruction and Development/The World Bank. The findings, interpretations, and conclusions expressed in this event do not necessarily reflect the views of the World Bank, the Executive Directors of the World Bank, or the governments they represent. The World Bank does not guarantee the accuracy of the materials included in the reproducibility package.

    Access and rights

    License
    Name URI
    MIT License https://opensource.org/license/mit
    World Bank IGO Rider https://github.com/worldbank/metadata-editor/blob/main/WB-IGO-RIDER.md

    Contacts

    Contacts
    Name Affiliation Email
    Maria Vagliasindi World Bank mvagliasindi@worldbank.org
    Reproducibility WBG World Bank reproducibility@worldbank.org

    Information on metadata

    Producers
    Name Abbreviation Affiliation Role
    Reproducibility WBG DECDI World Bank - Development Impact Department Verification and preparation of metadata
    Date of Production

    2026-05-18

    Document version

    1

    Citation

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