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  • Washington, D.C : The World Bank  (323)
  • Bielefeld : transcript
  • Economic Growth  (323)
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  • 1
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Social Analysis
    Keywords: Early Childhood ; Economic Growth ; Human Capital ; Human Capital Protection ; Macroeconomics and Economic Growth ; Social Protections and Assistance ; Social Protections and Labor ; Strengths and Gaps
    Abstract: This human capital review assesses human capital outcomes in Mauritania and identifies actions to strengthen, utilize, and protect human capital. The government of Mauritania has demonstrated a strong commitment to placing human capital at the forefront of its long-term vision, with dedicated efforts focused on enhancing childhood health and education outcomes. Despite Mauritania's positive initiatives, the country's human capital wealth per capita has declined over the last 20 years; and it is imperative to look at ways to quickly reverse this situation. Children born today in Mauritania will only be 38 percent as productive when they grow up as they could have been had they enjoyed complete education and full health. Increasing the productivity of Mauritanians--both men and women--and thus allowing them to fully contribute to the development of their society entails transforming the human capital challenge to a human capital opportunity. This report takes a comprehensive, cross-sectoral approach and proposes recommendations for building, protecting, and utilizing human capital in Mauritania
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  • 2
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Demand Shortfalls ; Economic Forecasting ; Economic Growth ; Growth ; Inflation ; Investment Shifts ; Macroeconomics and Economic Growth ; Property Sector
    Abstract: Economic activity in China has picked up in 2023, but the recovery remains fragile. Real GDP growth accelerated to 5.2 percent y/y in the first three quarters of 2023, driven by demand for services, resilient manufacturing investment, and public infrastructure stimulus. The initial phase of economic reopening triggered a surge in economic activity in Q1, but growth momentum decelerated rapidly in Q2 before recovering modestly in Q3. The volatile growth performance, compounded by persistent deflationary pressures and still weak consumer confidence, suggests continued fragility in the recovery. China's investment deceleration has been one of the key drivers of the overall growth slowdown in recent years. Together with the decline in aggregate investment growth, there has been a marked shift in the composition of investment. Structural reforms are crucial both to accelerate rebalancing towards higher consumption and to mitigate risks of inefficiencies in capital allocation. Following recent statements by policymakers, a renewed focus on structural reform implementation with specific measures strengthening the rule of law, independent enforcement of regulations, fostering competition, and ensuring a level-playing field could help ensure that resources are allocated to the most productive sectors and firms. Deepening financial sector reform will enhance market-based financial intermediation. Measures to improve the progressivity of the fiscal system, reform the hukou system, and foster inclusive finance will support household consumption growth
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  • 3
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Carbon Pricing ; Economic Forecasting ; Economic Growth ; Energy ; Energy and Economic Development ; Energy Prices ; Growth and Real Sector ; Inflation ; Macroeconomics and Economic Growth
    Abstract: The twin shocks of the pandemic and weak global trade has particularly impacted Thailand due to the country's position as a trade and tourism hub. Thailand's tourism arrivals reached only 75 percent of pre-pandemic levels in September despite the ongoing growth in global services trade. Visitor numbers increased across the board, except for China and Japan which are experiencing economic slowdown. The economic recovery faltered due to global headwinds as growth fell to 1.5 percent year-on-year in 2023 Q3, well below expectations. Thailand has implemented a range of policies to reduce greenhouse gas emissions and has taken the first steps to implementing comprehensive carbon pricing. This report explores some of the complexities involved in implementing carbon pricing. It finds that Thailand has already taken some of the most difficult steps in setting up a comprehensive carbon pricing policy instrument. Important questions remain to be addressed about what form carbon pricing should take in Thailand and which economic sectors should be included in a carbon pricing scheme. The potential benefits from carbon pricing may be substantial. Carbon pricing is likely to play an important role in meeting future emission reduction targets, reducing environmental degradation and air pollution while positioning Thailand as a regional leader in green and sustainable growth
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  • 4
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Growth ; Gender ; Gender and Development ; Gulf Cooperation Council (GCC) ; Macroeconomics and Economic Growth ; Saudi Arabia ; Women ; Women and Labor
    Abstract: The Gulf Cooperation Council (GCC) economies have been a bright spot in an otherwise gloomy economic landscape. Average growthin the GCC surpassed 7 percent in 2022 led by Saudi Arabia, its biggest economy, which was globally the fastest growing large economy. This growth was not just a result of buoyant hydrocarbon prices but also continued growth of non-oil sectors. The latter was the result of persistent structural reforms undertaken by several GCC countries to improve the investment environment, promote flexible labor markets, and encourage women to join the labor market. GCC countries have used the windfall revenues from oil and gas to rebuild their buffers, pay down their debt, and shore-up their sovereign wealth funds. They have also sought to protect their vulnerable populations with continued subsidies on food, fuel, and utilities. Such policies have limited the impact of inflation on the domestic economy. Finally, GCC countries have also used their financial muscle to support economically weaker countries in the region. The stellar growth of 2022 is slowing down and growth is expected to moderate to 1 percent in 2023 before picking up again to 3.6 percent in 2024. The decline in economic activity in 2023 is driven by consecutive production cut decisions by OPEC+ in an effort to stabilize global oil prices. However, non-oil GDP continues its growth trajectory reaching 3.9 percent, resulting weaker integration between oil and non-oil sectors. To maintain this track record, GCC countries will need to continue to exercise prudent macroeconomic management, stay the course with structural reforms, and increase non-oil exports. Downside risks remain and it would be amiss not to mention them. The conflict in the Middle East presents major risks to the region and the GCC outlook if it extends or expands to include other regional players. While it is too early to quantify the impact and channels of the conflict, we already witness a 4 percentsurge in global oil futures. Although China is bouncing back after emerging from tight Covid-19 lockdowns, troubles in the real estate sector could still disrupt this trajectory. Persistent high inflation in the world's major economies has not been entirely vanquishedsuggesting a high interest rate environment for a longer period. Windfall revenues are anticipated as a result of higher oil prices driven by the conflict in the Middle East. However, the extent and duration of the conflict will play a pivotal role in determining economicramifications not only on energy markets but also on regional financial and trade markets and overall economic confidence. The Special Focus section of the report discusses the power of structural reforms and social norms in advancing female labor force participation in Saudi Arabia. Saudi Arabia experienced an unprecedented surge in female labor force participation since 2016 as a result of: (i) changing regulations and the removal of legal barriers, shifting social norms, (ii) the implementation of sound structural reforms and (iii) effective government communications. Saudi Arabia's success in increasing female labor force participation from 17.4 percent in 2017 to 36 percent in 2023 offers important lessons to other countries in the region and the world
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  • 5
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Forecasting ; Economic Growth ; FDI ; Foreign Direct Investment ; FX ; Import Bans ; Improved Welfare ; Inflation ; International Economics and Trade ; Macroeconomics and Economic Growth ; Oil Flows ; Private Sector Credit
    Abstract: Important reform decisions have been taken for Nigeria to avoid a fiscal cliff, and temporary compensation is being provided to help the poorest and most vulnerable households. In May and June 2023, the incoming administration undertook two critical policy decisions, which have resulted in price and exchange rate adjustments in the second half of the year. Targeted cash transfers are helping to cushion the adjustment to higher gasoline prices. On fiscal policy, budget planning for the next several years is consistent with sustaining the fiscal savings from the subsidy reform and mobilizing more revenues. However, the reforms are yet to be completed to fully realize the economic benefits. The FX market has remained volatile and is still in a period of continuing adjustment to the new policy approach. Revenue gains from the FX reform are visible, but more clarity is needed on oil revenues, including the fiscal benefits from the PMS subsidy reform. The economic outlook for Nigeria in the short to medium term hinges on the continuation and effectiveness of its macroeconomic stabilization agenda. Successful implementation of the initiated reforms will be the first step toward improving Nigeria's growth prospect. Moving decisively onto a higher long-term growth and poverty reduction path requires not only a stable macroeconomic environment but also concerted structural reforms
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  • 6
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Growth ; Financial Sector ; Fiscal and Monetary Policy ; Food Security ; Inflation ; Macroeconomics and Economic Growth ; Monetary Policy ; Real Sector
    Abstract: Notwithstanding slower global growth and lingering impacts of recent catastrophic floods, private sector activity, outside the oil sector, has been supported by a relative return to peace, and higher government spending. Nevertheless, the economy is estimated to have contracted by 0.4 percent in FY23/24, reflecting drags from oil production. Supported by a successful exchange rate liberalization, inflation averaged -3.2 percent in 2022 and around 3 percent in the first nine months of 2023. Monetary policy has tightened in recent months, but it remains imperative that the central bank refrain from financing the fiscal deficit. The FY23/24 budget projects a smaller financing gap of about 13 percent of budget expenditures comparedto previous years. However, financing vulnerabilities remain high because of limited fiscal and external liquidity buffers and limited debt-carrying capacity
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  • 7
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: IEG Independent Evaluations and Annual Reviews
    Keywords: Adaptation To Climate Change ; Economic Growth ; Environment ; Gender ; Gender and Development ; Gender and Law ; Gender Based Violence ; Gender Equality ; Macroeconomics and Economic Growth ; Nonextractive Sectors ; Resilience
    Abstract: Papua New Guinea has abundant resources in the form of oil and mineral wealth. But a complex set of factors, including systemic gender inequality, underinvestment in non-extractive sectors, and fragility compounded by vulnerability to disasters caused by natural hazards act as barriers to sustainable and inclusive growth of the country. This Country Program Evaluation (CPE) report assesses the relevance and effectiveness of World Bank Group support to Papua New Guinea between fiscal year FY08 and FY23. It assesses the Bank Group's development effectiveness in addressing the above three core themes, namely: (i) lack of investment in Papua New Guinea's non-extractive sectors and their poor performance, (ii) the economic exclusion of women and gender-based violence (GBV) issues associated with it, and (iii) unmitigated risks of disaster from natural hazards, and violence, and conflict. The report answers three specific questions. The first explores the extent to which the Bank Group adapted its engagement in line with key constraints, including in relation to development partners, changes in country context, and lessons from experience. The second focuses on the results of Bank Group support and explanatory factors for results under each them, answered by applying a gender lens where relevant. The third question explores the extent to which the Bank Group successfully identified and addressed conflict, violence, and disaster from natural hazards risks. The report offers key lessons to inform the World Bank Group's future engagement with the country: (i) Data gaps need to be addressed to inform sound policy making and effective programming in Papua New Guinea. (ii) Declining governance quality and increasing bilateral aid will require the World Bank to reassess how it supports key policy reforms to achieve development impact, including through using DPOs. (iii) The Bank Group could elevate its impact on gender equality and GBV by shifting from a project-centric approach to a strategic country engagement approach. (iv) The negative effects that compound and interrelated risks pose to achieving development aims need to be addressed more comprehensively
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  • 8
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Social Protection Study
    Keywords: Data Development and Gender ; Economic Growth ; Employment and Unemployment ; Human Development and Gender ; Labor Market Policy and Programs ; Macroeconomics and Economic Growth ; Poverty Reduction ; Social Development and Poverty ; Social Protection Delivery Systems ; Social Protections and Assistance ; Social Protections and Labor
    Abstract: The following analytical report summarizes the technical notes and presentations prepared by the World Bank and the Workforce Development Center under the Ministry of Labor and Social Protection of Population of Kazakhstan (MLSPP). These works aimed to support the MLSPP in the preparation of the Concept Plan of Labor Market Development for 2024-2029. The teams analyzed existing barriers and the potential for the creation of quality jobs in Kazakhstan because employment is essential for economic growth, which contributes to reducing poverty. Despite slower economic growth and some institutional challenges, Kazakhstan, nevertheless, has been successful at reducing the poverty rate. The major factor contributing to Kazakhstan's growth has been productivity, regardless of the period. A much lower contribution stems from labor market factors and employment rates. Therefore, the teams focused on how to boost firm productivity to increase the number and accessibility of better jobs, as well as how to develop skills and provide good education to the different groups of the population and prepare people for new and old jobs. Based on the material delivered by the World Bank, the WDC and other local expert groups, the MLSPP was able to draft the Concept Plan of Labor Market Development for 2024-2029, which the Government of Kazakhstan approved on November 28, 2023
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  • 9
    Language: English
    Pages: 1 Online-Ressource (244 pages)
    Series Statement: World Bank Latin American and Caribbean Studies
    Parallel Title: Erscheint auch als
    Keywords: Agglomeration Economies ; Economic Growth ; Income Convergence ; Migration ; Trade Costs ; Transport Networks ; Urbanization
    Abstract: The Evolving Geography of Productivity and Employment: Ideas for Inclusive Growth through a Territorial Lens in Latin America and the Caribbean employs a territorial lens to understand the persistently low economic growth rates in Latin America and the Caribbean (LAC). Using new data and methods, it shows that deindustrialization, distance, and divisions offer intertwined explanations for an urban productivity paradox in the LAC region: its highly dense cities should be among the world's most productive, yet they are not. LAC cities have been held back by lack of dynamism, poor connectivity, and divisions into disconnected poor and affluent neighborhoods. Deindustrialization has shifted urban employment, especially in the largest LAC cities, away from manufacturing and toward less dynamic, low-productivity nontradable activities, such as retail trade and personal and other services, that profit less from agglomeration, especially in highly congested cities. Although employment in urban tradable services has risen, the increase has not been strong enough to offset the decline in manufacturing employment. Meanwhile, intercity connectivity issues have undermined the performance of the region's network of cities by restricting market access and firms' ability to benefit from specialization in smaller cities. Within cities, poor connectivity and residential labor market segregation have limited the gains from agglomeration to neighborhoods in central business districts where formal firms operate. Informality has persisted in low-income neighborhoods, where residents face multiple deprivations. By contrast, many agricultural and mining areas have benefited from the strong demand for commodities by China and other fast-growing economies, particularly during the Golden Decade (2003-13), leading to a decline in territorial inequality in most countries in the region. The report concludes that to encourage inclusive growth, countries must more efficiently transform natural wealth into human capital, infrastructure, and institutions and improve the competitiveness of the urban economy. It then sketches out the contours of such a development strategy, identifying policy priorities at the national, regional, and local levels
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  • 10
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other ESW Reports
    Keywords: Co-Evolutionary Framework ; Diversification ; Economic Growth ; ICT Policy and Strategies ; Information and Communication Technologies ; Macroeconomics and Economic Growth ; Principle Of Relatedness ; Technology-Based
    Abstract: This research examines the diversification process by conceptualizing a co-evolutionary framework linking production and technology. The study applies the framework to retrospectively explain Korea's successful diversification path and to Viet Nam to identify how the country could further diversify into complex and value-added products. The authors apply relatedness analysis leveraging patent and trade data and present four different types of diversification patterns, namely unrelated diversification, production-based diversification, technology-based diversification, and complex diversification. Developed countries including Korea shifted toward technology-based or complex diversification strategies as their economies developed. Using a simulated scenario approach, the report outlines potential future trajectories wherein Viet Nam attains technological capabilities. The result shows that Viet Nam can diversify into 233 products if it accumulates capabilities in the 12 identified technologies. The report concludes with policy lessons that could inform policy makers in Viet Nam as well as other developing economies. Namely, that the country would need to invest more intensively in technology and capabilities upgrading to diversify into new complex products and evolve its diversification strategy alongside its economic growth and capability building process
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  • 11
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Private Sector Development, Privatization, and Industrial Policy
    Keywords: Access To Finance ; Business Environment ; Conflict ; Conflict and Development ; Economic Growth ; Finance and Financial Sector Development ; Fragile States ; Private Sector ; Private Sector Development
    Abstract: This Private Sector Assessment Report on the Republic of Yemen is delivered as part of the Private Sector Technical Assistance project. The goal of the project is to understand the dynamics of the country's private sector during conflict; identify constraints to trade, investment, and finance; and propose recommendations for inclusive private sector entry, survival, and growth. The report also includes an overview of the financial sector's impact on the private sector, especially on the latter's resilience during conflict. Finally, the report provides structural and policy recommendations that, once implemented by the authorities on both national and subnational levels, would prepare the Yemeni private sector to participate in the country's post-conflict recovery and reconstruction
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  • 12
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Country Climate and Development Reports (CCDRs)
    Keywords: Adaptation To Climate Change ; Climate Change Adaptation ; Economic Growth ; Environment ; Finance ; Inlcusive Growth ; Macroeconomics and Economic Growth ; Poverty Reduction ; Resilience
    Abstract: This Country Climate and Development Report (CCDR) examines Liberia's development trajectory through the lens of the country's vulnerability to climate change. It identifies Liberia's development risks and opportunities, models various scenarios of climate impact and intervention, and proposes ways to strengthen resilience and finance climate actions that support Liberia's development aspirations of inclusive growth and poverty reduction
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  • 13
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (44 pages)
    Parallel Title: Erscheint auch als Assem Mohammed G Hassan Ahmed, Hoda Stages of Diversification Redux
    Keywords: Development Trajectories ; Economic Concentration ; Economic Diversification ; Economic Growth ; Macroeconomics and Economic Growth ; Resource Poor Countries ; Resource Rich Countries
    Abstract: The existing literature on development and economic diversification finds an inverted-U function between these two variables, whereby economies diversify as they grow up to a point, after which they start specializing. This paper contributes to this literature by investigating the stages of diversification over the course of development during the past 57 years. The paper emphasizes the trajectories of resource-rich and resource-poor countries, an issue that has not been covered by the extant literature. In addition, the paper studies the stages of diversification across three dimensions, namely employment, value-added, and exports. Additionally, it examines the relationship for services. Non-parametric estimations suggest a U-shaped curve between measures of economic concentration and per capita income levels, which is in line with existing evidence. However, these patterns are mainly driven by between-country rather than within-country variation, a finding that had been ignored in the existing literature. Diversification patterns also differ across resource-rich and resource-poor countries: Employment and value added in resource-rich countries are on average more concentrated at low levels of development while in resource poor countries, they are more concentrated at high levels of development. In contrast, at all levels of development, exports are more concentrated in resource-rich countries
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  • 14
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Public Expenditure Review
    Keywords: Economic Growth ; Finance and Financial Sector Development ; Fiscal Challenges ; Inclusive Growth ; Macroeconomics and Economic Growth ; PER ; Public and Municipal Finance ; Public Expenditure Review
    Abstract: The Union of the Comoros is a small-island country in Eastern Africa that recorded a modest economic expansion and suffered from various fiscal challenges during the last decade that had an impact on long-term growth. Limited fiscal space to address development needs explains the country's low human capital and poor quality infrastructure, which in turn hamper efforts to increase productivity and private sector growth. In addition, due to low performing State-owned enterprise (SOEs) and weakening economic performance, Comoros faces significant fiscal risks. The analysis presented in this PER supports the efforts of the government of Comoros to enhance public expenditure efficiency, create fiscal space, and limit fiscal risks. The analysis is designed to focus on public investment management (PIM) and public financial management (PFM), identify reforms that could yield fiscal and efficiency gains, and assess the governance of SOEs
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  • 15
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: CEMAC ; Economic Growth ; Energy ; Fossil Fuel Subsidies ; Fuels ; Hydrocarbon Sector ; Macroeconomics and Economic Growth ; Social Safety Net ; Taxation and Subsidies
    Abstract: This is the first edition of the Economic Update for Equatorial Guinea. This report presents recent economic developments in Equatorial Guinea as well as the medium-term economic outlook and risks (Chapter 1), followed by a detailed exploration of a specific topic (Chapter 2). This edition focuses on fuel subsidies and advises on fuel subsidy reform options and mitigation measures by drawing on lessons from international experience. The objectives of the Equatorial Guinea Economic Update are to: (i) strengthen the analytical underpinnings of the policy dialogue; and (ii) contribute to an informed debate on policy options to enhance macroeconomic management and development outcomes
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  • 16
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Conflict and Development ; Economic Growth ; Fiscal Policies ; Inflation ; Labor Markets ; Macroeconomics and Economic Growth ; Social Protection ; Social Protections and Labor
    Abstract: While armed clashed have declined, Libya continues to face fragmentation and fragility. The country's fragility is having far-reaching economic and social impact. Social conditions and public service delivery have been affected. Similar to numerous conflict-affected countries, the World Bank refrains from providing quantitative growth and macroeconomic forecasts. Despite the numerous challenges facing the country, the Libyan economy cab ne reconstructed and diversified by leveraging its substantial financial resources building on four critical pillars. The first is reaching a sustainable political agreement on the future of Libya. The second is the preparation of a shared vision on economic and social development that is based on accurate assessments of needs and aspirations. The third is the development of a modern and decentralized public financial management system that ensures adequate sharing of oil wealth and inter-governmental fiscal transfers as well as effective and transparent budget planning, execution, and reporting policies. The fourth is the establishment of a modern and comprehensive social policy that enables the reform of public administration and creates a clear distinction between social transfers and public wages
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  • 17
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Climate Change Economics ; Disaster Risks ; Economic Growth ; Environment ; Floods ; Macroeconomics and Economic Growth ; Natural Disasters ; Outlook ; Poverty Impact ; Resilience
    Abstract: This 2023 Economic Update for Chad is articulated in two chapters, plus a spotlight. The first chapter presents the recent economic and poverty developments as well as the outlook from 2023 to 2025. This chapter is followed by a summary of the macroeconomic-poverty impact analyses for Chad in the World Bank Sahel Country Climate and Development Report (2022). The second chapter offers a deep dive on Chad's disaster risk profile and the drivers that make floods an increasingly important threat to economic growth and provides policy options to reduce the impact of floods and improve resilience
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  • 18
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Adaptation to Climate Change ; Climate Change ; Disaster Risks ; Economic Growth ; Environment ; Macroeconomics and Economic Growth ; Resilience
    Abstract: Cabo Verde is a young, small, and vibrant island nation with an open economy. Rising above its daunting geographical challenges and limited endowments, the country is a story of economic success. Reforms to the rule of law and the market have prompted significant economic and social progress since the country's independence from Portugal in 1975, leading to democratic and macro-economic stability. Its robust, albeit highly volatile, economic growth has been driven by tourism, remittances, and foreign direct investment, enabled by structural reforms and social and political stability. Despite remarkable social and economic progress, Cabo Verde's development model has been showing signs of fatigue since the 2008 global financial crisis. To guide Cabo Verde in meeting these challenges, this Country Economic Memorandum (CEM) contains two modules: (1) empowering complementary engines of growth; and (2) fostering the resilience of growth to disaster and climate-related shocks. The CEM benchmarks Cabo Verde's performance against other Small Island Developing States (SIDS), structural peers (Samoa, Sao Tome and Principe, and Vanuatu), and aspirational peers (Mauritius, Seychelles, St. Kitts and Nevis, and St. Lucia). Structural peers are countries that share similar economic characteristics and endowments, while aspirational peers are countries that have been able to grow faster and more sustainably than Cabo Verde, despite sharing similar structural conditions (Annex 1)
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  • 19
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Growth ; European Union ; Inclusive Growth ; Inflation ; Macroeconomics and Economic Growth ; Policy Challenges
    Abstract: Following a strong recovery after the onset of the COVID-19 pandemic, growth in the European Union (EU) is expected to sharply decelerate in 2023 as high inflation and increasingly tight monetary policy dampen economic activity. Despite considerable resilience, the EU economy is in a weakened spot following the string of overlapping crises since 2020, which have eroded macroeconomic buffers and left the economy vulnerable to additional negative shocks. Fiscal policy support, going forward, will need to be timely, targeted, time bound, and transparent to eventually support gradual fiscal consolidation. Part 1 of the EU regular economic report (RER) focuses on recent developments and the short-term outlook and risks. This part looks at inclusive growth trends in the EU as a whole and the four regions: Northern Europe (NE), Southern Europe (SE), Western Europe (WE) and Central and Southeast Europe (CEE). Depending on data availability, it also zooms in on a set of selected countries - Bulgaria, Croatia, Poland, and Romania
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  • 20
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other ESW Reports
    Keywords: COVID-19 ; Economic Forecasting ; Economic Growth ; Economic Impacts ; Employment ; Fiscal and Monetary Policy ; Fiscal Support ; Macroeconomics and Economic Growth ; Policies
    Abstract: More than three years after the first COVID-19 case was discovered in the East Asia and Pacific (EAP) region, it is time to take stock of the lasting effects-and opportunities-of the pandemic and identify which policies may have helped stem the economic losses suffered by households and firms. To do so, this regional report examines the economic impact of the COVID-19 pandemic on households and firms in six countries: Cambodia, Indonesia, Malaysia, Mongolia, the Philippines, and Vietnam. This volume examines: (a) the links between impacts on firms and households, in particular through the employment channel, and (b) governments' fiscal responses to the COVID crisis, through transfers, subsidies, and taxes. It identifies and explains changes in household well-being by examining the economic effects of the pandemic on labor markets. As the source of employment and wage income, businesses have a direct role in determining jobs and earnings, and, indirectly, welfare, poverty, and inequality. When faced with a shock, firms responded by adjusting employment, reducing wages, increasing prices, and reducing services provided. All of these channels directly affected households' wellbeing. For this reason, the report focuses on firms in addition to households. Governments responded through various instruments, providing transfers and subsidies and lowering the tax burden to both households and firms
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  • 21
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: General Economy, Macroeconomics, and Growth Study
    Keywords: Adventure Tourism ; Economic Growth ; Environment ; Hiking Sector ; Macroeconomics and Economic Growth ; Tourism and Ecotourism ; Travel
    Abstract: The World Bank, in coordination with the Government of Cabo Verde, has partnered with the Adventure Travel Trade Association (ATTA) to develop a research study about the current status of the adventure tourism sector in Cabo Verde, particularly the hiking segment. The purpose of this research is to understand the potential of Cabo Verde as an adventure travel destination and the island of Santo Antao as a world-class hiking hotspot. The methodology followed a four-pronged approach to incorporate the vision of travelers visiting the country, the trade industry and international tour operators, a technical expert analysis, and secondary research of the hiking sector globally. The analysis provides a roadmap to advise the country's stakeholders in taking the relevant decisions to accelerate the path to achieve this objective
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  • 22
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Forecasting ; Economic Growth ; Finance and Financial Sector Development ; Fiscal Deficit ; Macroeconomics and Economic Growth ; Poverty ; Public and Municipal Finance ; SOE ; Unemployment
    Abstract: Eswatini's economy has been characterized by persistent low growth, high fiscal deficits, and unprofitable state-owned enterprises (SOEs). Without significant reform, the country is unlikely to achieve its socioeconomic aspirations, and poverty and unemployment are likely to remain high. These problems are exacerbated by the difficult external environment, with subdued global demand and volatile international prices. In this context, the government of Eswatini recognizes that the country needs a series of policy reforms to unleash the potential of the private sector. It also needs to improve the efficiency of SOEs in strategic sectors, which deliver services to many businesses and households. This report is divided into two parts. Part 1 discusses recent economic developments in the global and domestic economy and assesses Eswatini's short and medium-term prospects. Part 2 reviews the role that SOEs can play in the government's efforts to enhance economic performance. It assesses both their contribution to the economy and their limitations to suggest directions for reform
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  • 23
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (47 pages)
    Parallel Title: Erscheint auch als Robinson, James A Endogenous Institutions and Economic Policy
    Keywords: Economic Growth ; Economic Policy, Institutions and Governance ; Endogenous Institutions ; Growth ; Inclusive and Extractive Institutions ; Institutional Change Policy ; Institutional Cooperaton Framework ; Law and Development ; Macroeconomics and Economic Growth ; Social Norms
    Abstract: This paper proposes a new framework to model institutions and institutional change. It shows how moral agents, who strive to cooperate with others, can form institutions that facilitate cooperation. The framework makes it possible to model informal as well as formal institutions as games played by moral agents: when the quality of the government is low and agents are not willing to use its services they will create informal institutions that allow them to cooperate outside the official channels. It is also possible to conceptualize institutions as inclusive or extractive and model institutional change as a consequence of the choice of moral agents among available institutions as time unfolds. With a series of examples of clientelistic networks, the paper shows that the framework can be useful for understanding how and why such networks form and persist. The framework can be used to model any interactions among moral agents, thus giving rise to a wide variety of possible institutional settings
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  • 24
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2193
    Keywords: Agriculture ; Atlas Region ; Earthquake ; Economic Growth ; Environment ; Female Labor Force ; Gender ; Gender and Development ; Macroeconomics and Economic Growth ; Natural Disasters ; Poverty ; Social Protections and Assistance ; Social Protections and Labor ; Tourism ; Women's Economic Empowerment
    Abstract: The Moroccan economy is recovering. Following a sharp deceleration in 2022 caused by various overlapping commodity and climatic shocks, economic growth increased to 2.9 percent in the first semester of 2023, driven primarily by services and net exports. Inflation has halved between February and August 2023, but food inflation remains high. Lower commodity prices havealso contributed to a temporary narrowing of the current account deficit. The response to recent crises and the unfolding reform of the health and social protection systems are exerting pressures on public spending. However, the government is managing to gradually reduce the budget deficit
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  • 25
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2163
    Keywords: Adaptation To Climate Change ; Climate Change ; Climate Change Mitigation and Green House Gases ; Climate Resilience ; DRC ; Economic Growth ; Environment ; Fragile Countries ; Low-Carbon ; Macroeconomics and Economic Growth
    Abstract: This Country Climate and Development Report (CCDR) aims to support DRC's efforts to achieve its development goals within a changing climate by quantifying the impacts of climate change on the economy and highlighting policies and interventions needed to strengthen the country's climate resilience on many different levels. The report captures the interplay between DRC's development, climate challenges, and climate policies, with the objective of identifying synergies and tradeoffs. The CCDR supports the strategic vision of the Government of DRC as articulated in its 2030 National Strategic Development Plan ("Plan National Strategique de Developpement" (PNSD)) to reach middle-income country (MIC) status by 2035, and by 2050, become a diversified inclusive economy spurred by sustainable growth. It identifies the priorities needed in order to launch the most impactful, cost-effective actions to boost adaptation, build resilience, and foster low-carbon growth, while delivering on broader development goals. These are critical objectives, especially in fragile countries such as the DRC
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  • 26
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2118
    Keywords: Climate Change ; Economic Growth ; Monetary Poverty ; Non-Monetary Poverty ; Poverty Reduction ; Social Assistance
    Abstract: In recent decades, economic growth in the Dominican Republic (DR) has been steady. However, growth has not occurred in such a way as to make the benefits widely and evenly available. In fact, although the DR economy grew faster than that of other LAC countries before the Covid-19 pandemic, its poverty rates and social outcomes remain broadly similar to them. This report seeks to explain this conundrum, as well as to expand the knowledge base to improve the effectiveness of ongoing poverty reduction policies in the DR. The Poverty Assessment draws primarily on new analytical work conducted in the DR, structured around four background notes on: (i) trends in monetary poverty and inequality, as well as the key drivers of those changes; (ii) nonmonetary poverty and its spatial dimensions; (iii) social assistance programs and their role in mitigating poverty; and (iv) climate change and its interaction with poverty. By helping to reduce the evidence gap in each of these areas, our analysis hopes to inform government policies and the national dialogue on poverty reduction. In addition, the note integrates existing analytical work and evidence produced inside and outside the Bank, including from its operations in the country
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  • 27
    Language: English
    Pages: 1 Online-Ressource (31 pages)
    Parallel Title: Erscheint auch als Eslava, Marcela Business Size, Development, and Inequality in Latin America: A Tale of one Tail
    Keywords: Business Size ; Developing Economies Business Data ; Economic Growth ; Finance and Financial Sector Development ; Firm-Level Datasets ; Income Inequality ; Inequality ; Macroeconomics and Economic Growth ; Micro-Enterprises ; Poverty Reduction ; Private Sector Development ; Private Sector Economics ; Self-Employment
    Abstract: Using official employment surveys for 45 advanced economies and Latin American countries, this paper shows that the positive cross-country correlation between business size and GDP per capita is tighter than previously found using firm-level datasets and finds a close negative business size-Gini relationship. The paper also finds a closer connection between individual income and business size for workers in less developed countries compared with those in advanced economies. Because employment data address the bias against the smallest productive units that characterize firm-level datasets, our approach uniquely assesses and highlights the dominance of the left tail of the business size distribution in less developed countries
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  • 28
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Country Economic Memorandum
    Keywords: Economic Diversification ; Economic Forecasting ; Economic Growth ; Inclusive Growth ; Macroeconomics and Economic Growth ; Private Sector ; Regional Integration
    Abstract: Timor-Leste has made important development gains since independence in 2002 but is now at a critical juncture. The government has successfully rebuilt public infrastructure, reduced poverty, and quickly built from scratch a network of functional public institutions. Despite these achievements, there is an urgent need for private sector-centered development that is not dependent on the oil sector. Receipts from sales of hydrocarbons have been the main source of government revenues, but their contribution to the economy is decreasing, raising the urgency for economic diversification. High public spending has not translated into strong and sustained economic growth. Furthermore, depleting oil reserves signal an urgency to reduce economic dependence on oil. The public sector-driven growth model has run its course and is fiscally unsustainable. The excessive public spending level led to an astronomical fiscal deficit of 45.3 percent of non-oil gross domestic product (GDP) in 2021. This fiscal stance entails significant risks that bring the country toward a damaging fiscal cliff in 2035. Albeit narrowing, there is a window of opportunity for the government to urgently implement the much-needed reforms in the next five years. There are several potential drivers for increased regional integration. These include the operationalization of the Tibar Bay port, the modernization of the Dili airport, the internet submarine cable installation, and the World Trade Organization (WTO) accession progress. Success requires a concerted and persistent government effort to address supply-side constraints, kick-start economic diversification, and boost export. This report provides an in-depth analysis of Timor-Leste's economic performance in recent decades and proposes policies to enhance growth. It highlights two key interrelated constraints to sustained and inclusive growth: the 'missing' private sector and the need to tap into the growth-enhancing benefits of international trade. Given the diminishing returns of public investments, pursuing a sustainable development path will require a shift toward a more dynamic, private sector-driven growth model. Furthermore, with the right combination of a supportive enabling environment and trade policies, Timor-Leste could capitalize on incipient and established comparative advantages for its exports. Accordingly, the reforms to support private sector development and expand exports have the potential to boost Timor-Leste's international competitiveness and improve economic diversification
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  • 29
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: General Economy, Macroeconomics, and Growth Study
    Keywords: COVID-19 ; Economic Development ; Economic Growth ; Higher Value Markets ; Macroeconomics and Economic Growth ; Obstacles ; Pacific ; Policies ; Tourism
    Abstract: Over the two decades preceding the Coronavirus disease 2019 (COVID-19) pandemic, tourism became one of the most important drivers of economic growth across the Pacific. The COVID-19 crisis had a devastating impact on tourism activity in the Pacific, with severe and potentially durable economic and social consequences. This study takes a fresh look at tourism's role for development in the Pacific, its future after COVID-19, and the scope to foster a greener, more resilient, competitive, and inclusive sector. It complements and builds on the 2016 Pacific possible report, which assessed specific opportunities to increase arrivals in a context of rapid tourism growth, by considering the changes to the industry's model that could maximize tourism's economic, social, and environmental benefits for Pacific Islanders. It does this by: (i) taking stock of the evidence on tourism's historical contribution to development in the Pacific Island Country (PICs) and of the COVID-19 crisis' impacts, (ii) analyzing current obstacles and potential opportunities for a more competitive and sustainable Pacific tourism, focusing on selected issues key to target higher value markets, and (iii) recommending policy priorities and investment needs to (re)position the Pacific tourism model for the future and broaden its benefits, focusing on competitiveness, environmental sustainability, resilience and inclusiveness. Given the scarcity of data on Pacific tourism and frequent discrepancies across sources, one of the study's main contributions is to provide a detailed quantitative assessment of the sector and its economic impacts, for instance on jobs, poverty, and public revenue, based on an extensive data collection, cross-checking and integration exercise
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  • 30
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Growth ; Financial Sector ; Fiscal and Monetary Policy ; Fiscal Deficit ; Foreign Direct Investment ; Inflation ; Macroeconomics and Economic Growth
    Abstract: Following the significant volatility that characterized much of 2022, economic conditions in Myanmar have shown tentative signs of stabilization in the first half of 2023. The parallel market exchange rate remained broadly stable between January and May, albeit 27 percent lower against the US dollar than in June 2022 and depreciation pressures appear to have reemerged in recent weeks. In the medium-term, the deep contraction in 2021, the ensuring weak and uneven recovery, and increasing policy distortions will leave the economy permanently scarred. Many of the trends observed at household, firm and industry levels are likely to damage the productive capacity of the economy, in addition to their direct impacts on welfare and inequality. Increased reliance on coping mechanisms such as asset sales and reduced spending on health, education and agricultural inputs will curtail the longer-term earnings capacity of households. There has been little evidence of productivity-enhancing structural transformation in recent years; instead, more highly educated workers have moved into agriculture and away from higher productivity activities. Migration in recent years has been mostly forced, lowering the potential for income and productivity gains with recent migrants across states and regions within Myanmar tending to be worse off across various welfare indicators. And while interventionist measures to promote import substitution and self-sufficiency can generate employment and activity in the short term, in the long run, growth is likely to suffer as resources move toward activities that are less compatible with local factor endowments, and as the scope for productivity gains from specialization and exposure to international competition diminishes. Increased out-migration of more skilled workers and the sharp slowdown of foreign investment inflows will further constrain Myanmar's prospects for development over the longer term
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  • 31
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: COVID-19 ; Economic Growth ; Finance and Financial Sector Development ; Macroeconomics and Economic Growth ; Pandemic ; Public and Municipal Finance ; Public Spending
    Abstract: Cambodia's economic recovery solidified in 2022 with real growth accelerating to 5.2 percent. After shifting to "living with COVID-19" in late 2021, the economy is firmly on a path to recovery and has now returned to its pre-pandemic growth trajectory. Initially led by the strong performance of export-oriented manufacturing, growth drivers are rotating to the services and agriculture sectors. Meanwhile, the agriculture sector is benefitting from improved access to regional markets, thanks to newly ratified bi-lateral and regional free trade agreements. Weakening external demand is, however, starting to weigh on the country's economic recovery. Despite weakening goods export performance, the current account balance is improving, thanks to the rebound in the travel and tourism industry and remittances, while the oil price shock eased. The economic recovery and good revenue administration underpinned an across-the board improvement in domestic revenue collection. The authorities continued to provide cash transfers for poor and vulnerable households, although the worst of the pandemic is now behind us. In this regard, the Cambodian authorities have extended the COVID-19 cash transfer program, with an additional budget. To enhance the long-term resilience and competitiveness of the economy, efforts are needed to further promote export product diversification
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  • 32
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Adaptation To Climate Change ; Economic Growth ; Environment ; Fossil Fuels Subsidies ; Hydrocarbon Prices ; Inflation ; Macroeconomic Growth ; Macroeconomics and Economic Growth ; Non-Performing Loans ; Social Safety Nets ; Transport Sector
    Abstract: This is the tenth edition of the Republic of Congo Economic Update. Each edition of this annual report presents an overview of the Republic of Congo's (ROC) evolving macroeconomic position, followed by a detailed exploration of a specific topic. The first chapter of this year's update presents recent economic developments and macroeconomic outlook and risks. It also includes policy actions that could help strengthen fiscal and debt sustainability, contain food inflation, and sustain economic recovery. The second chapter discusses fossil fuel subsidies, which represent a significant fiscal burden in the Republic of Congo
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  • 33
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Forecasting ; Economic Growth ; Energy Crisis ; Energy Markets ; Environmental Fiscal Measures ; Food and Energy Prices ; Inflation ; Macroeconomics and Economic Growth ; Western Balkans
    Abstract: The six countries of the Western Balkans have seen their resilience tested over the last three years. Growth in the Western Balkan economies started strong in early 2022, before moderating toward year-end, but the impact of major shocks, such as electricity and heating outages, has been less severe than expected. Inflation surged to a two-decade high in 2022 in almost all economies, and price pressures remain elevated in early 2023. Higher food and energy prices have affected low-income households especially severely, resulting in a much slower pace of poverty reduction in 2022 despite universal government support. In the medium term, the Western Balkans continues to have a positive outlook, but reforms are needed to rebuild buffers, accelerate the green transition, and to address key structural challenges. The ongoing energy crisis has highlighted the need to accelerate the green transition across Europe, including in the Western Balkans. A key starting point in this regard is to accelerate the move toward carbon pricing and to increase the use of environmental fiscal measures that incentivize households and firms to shift toward lower carbon intensity with respect to economic activity
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  • 34
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: IEG Independent Evaluations and Annual Reviews
    Keywords: Development Challenges ; Economic Growth ; Finance and Development ; Finance and Financial Sector Development ; IFC Platforms ; Macroeconomics and Economic Growth ; SDGs
    Abstract: Recurring development challenges and new compounding crises affecting client countries and firms constrain the ambition of the International Finance Corporation (IFC) to contribute to attainment of the Sustainable Development Goals (SDGs) by 2030. The recurring challenges, including insufficient private sector participation in development financing, continue to affect emerging markets and developing economies and the firms within them. Two related initiatives-the IFC capital increase and the IFC 3.0 strategy-underpin IFC's goal to contribute to the SDGs by 2030. IFC's capital increase package was based on the IFC 3.0 strategy, which requires creating new markets through advisory and upstream services and mobilizing private capital from new sources and through new approaches (IFC 2017, 2018, 2020a). IFC has introduced a platforms approach to scale up its interventions in accordance with IFC 3.0 and the capital increase objectives. IFC defines platforms as thematic interventions-at a regional, global, or sectoral level-designed to address a specific development challenge (IFC 2022b). The main purpose of the evaluation is to assess whether the platforms approach offers IFC a means to achieve its capital increase and IFC 3.0 objectives while meeting the Board's and clients' expectations
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  • 35
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Growth ; FDI ; Foreign Direct Investment ; GDP ; International Economics and Trade ; Job Creation ; Macroeconomics and Economic Growth ; Macroeconomy
    Abstract: The Rwanda Economic Update No. 21 reviews the country's macroeconomic performance and prospects and includes a special section focusing on the impact of foreign direct investment (FDI) on the domestic economy. After growing by 8.2 percent in 2022, Real GDP expanded by 9.2 percent in the first quarter of 2023. However, this growth momentum may have been halted by disastrous flooding and landslides from the recent rains. Inflation has eased but remained well above the National Bank of Rwanda (NBR) target range in the first half of 2023, despite a tightening of monetary policy since January 2022. Rwanda's current account deficit improved in 2022, with higher export revenues and remittances outweighing rising import prices. The fiscal deficit narrowed in FY2022-23 thanks to a large decline in public spending, and strong growth which combined to reduce Rwanda's debt as a share of GDP. Prospects for continued high growth are good, and the fiscal and debt positions are expected to improve over the next few years. The special topic emphasizes the large size of FDI inflows, encouraged by a favorable regulatory environment and improvements in governance. FDI in Rwanda appears to generate significant employment benefits, both in terms of job creation by FDI firms and related increases in hiring by domestic firms. FDI firms also appear to have strong linkages with local firms, particularly domestic suppliers, and tend to provide higher-quality jobs than domestic firms, in terms of access to social security. However, forecasts of the volume of inflows and of employment provided when registering with the Rwanda Development Board turned out to be highly optimistic, raising concerns on both limits on FDI firms and the potential for misrepresentation to gain access to incentives. FDI projects tend to be concentrated in Kigali and surrounding districts, which have much lower poverty rates than the national average, and in general there is a negative association between the level of poverty and FDI inflows. Policies to improve the impact of FDI on inclusiveness could involve encouraging FDI projects in poorer districts, promoting greater participation by women and youths, enhancing corporate social responsibility initiatives, strengthening the monitoring and ex post performance assessment of FDI, improving linkages between FDI projects and domestic suppliers, and encouraging the home country of investors to enforce mandatory standards that enhance the sustainability and inclusivity of FDI
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  • 36
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Women in Development and Gender Study
    Keywords: CDD Livelihood Projects ; Economic Growth ; Ecosystem Approach ; Gender ; Gender and Development ; Gender Monitoring and Evaluation ; Kdrdip ; Macroeconomics and Economic Growth ; Women ; Women's Economic Empowerment
    Abstract: This paper aims to answer two important questions: how traditional CDD livelihood projects can adjust or adopt practices to strengthen women's economic empowerment outcomes, and how government and other development actors can employ an ecosystem approach to develop coordinated and sustainable local economic development on a larger scale. To answer these questions, the paper draws on a mixed-methods study of the Kenya Development Response to Displacement Impacts Project (KDRDIP), a traditional CDD livelihood program, along with an analysis of other WEE programs in the region and worldwide. The paper offers useful recommendations and insights for practitioners and policymakers
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  • 37
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Agricultural Development ; Economic Forecasting ; Economic Growth ; Government Spending ; Inflation ; Macroeconomics and Economic Growth ; Oil Production
    Abstract: Timor-Leste's economy continued its recovery in 2022, expanding by 3.9 percent, fueled by public consumption and investment. Private investment rose from an exceptionally low level while net exports continued to be a drag on growth. Headline inflation soared in March 2023 at 9.6 percent, spurred by significant increases in food and non-food prices. High inflation is part of a global trend driven by prices of tradable goods. Within Timor-Leste, the government's policy of enforcing higher excise taxes on tobacco products, implementing import taxes, and applying excises to sugar and sugary beverages, partially drove the inflationary trend. To advance a reform agenda, the new government may want to consider institutionalizing fiscal consolidation through robust fiscal rules. Both revenue mobilization and expenditure rationalization efforts should not only be maintained but also enhanced. Given that significant increases in public spending have had a limited impact on Timor-Leste's medium-term economic growth, it is possible to sustain growth levels with a reduced budget
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  • 38
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2209
    Keywords: Conglomerate Mergers ; Conglomeration ; Development Economics and Aid Effectiveness ; Digital Conglomerates ; EAP ; Economic Growth ; Macroeconomics and Economic Growth ; Market Dynamics
    Abstract: Conglomeration has traditionally been prevalent in Asia, a trend that is currently exacerbated by the characteristics of digital markets. While conglomerates offer important benefits, from economies of scale and diversification to the development of new products, they can also have a negative impact on market dynamics. This report examines conglomeration trends in five Asian countries, Malaysia, Korea, the Philippines, Thailand, and Viet Nam, to better understand whether offline conglomerates are expanding into digital markets vis a vis the expansion of purely digital conglomerates into adjacent and non-adjacent markets. The report focuses on one of the main expansion strategies: conglomerate mergers and acquisitions. To this end, it explores the prevalence of conglomerate mergers, both globally and within the East Asia region, the type of competition scrutiny they are submitted to, and potential aspects to strengthen their review to foster more effective competition policies. The report concludes with a set of key policy recommendations that address the identified risks
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  • 39
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2163
    Keywords: Adaptation To Climate Change ; Climate Change Adaptation ; Climate Change Mitigation and Green House Gases ; Decarbonization ; Economic Growth ; Environment ; Inclusive Economic Growth ; Macroeconomics and Economic Growth ; Net Zero Emissions ; Poverty Reduction ; Poverty, Environment and Development ; Resilience
    Abstract: This report explores how climate action, in line with Uzbekistan's goal of achieving net zero emissions by 2060, interacts with the country's growth and development path. It further suggests priority actions to reduce carbon emissions and build resilience while supporting inclusive economic growth and poverty reduction
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  • 40
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Economic and Sector Work Reports
    Keywords: Data Analysis ; Data Collection ; Economic Growth ; Governance ; ICT Data and Statistics ; Index Construction ; Information and Communication Technologies ; Macroeconomics and Economic Growth ; Results Reporting ; Technology ; Validation
    Abstract: The 2021 GovTech Maturity Index (GTMI) report and underlying dataset provide opportunities to replicate the study, identify gaps in digital transformation by comparing the differences among economies and groups of economies, and track changes over time in a transparent way. The dataset will be updated every two years to reflect developments in the GovTech domain. This 2022 GTMI update report and the accompanying dataset and new data dashboard present the progress within the last two years, highlight some of the good practices, and identify existing gaps for possible improvements in countries at the technology frontier. As with the 2020 edition, economies are grouped, not ranked, to illustrate the state of GovTech focus areas globally. This overview report presents a summary of the approach, how the 2022 GTMI dataset update is different, improvements in the GTMI dataset contents and visualization tools and GTMI group calculations, and initial findings and key messages
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  • 41
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Keywords: Accommodation and ; Agriculture ; Aquaculture ; Economic Growth ; Fisheries and ; Fisheries Sector ; Growth Potential ; Human Capital ; Industry ; Macroeconomics and Economic Growth ; Private Sector Development ; Regionalization ; Tourism Industry ; Tourism Sector
    Abstract: Comoros is at the crossroads to redefine its future and become an upper-middle income country by 2050, but this would require implementing an ambitious reform agenda that focuses on increasing productivity and private investment. The current business-as-usual policy framework has delivered low private investment and human capital, sectoral growth below potential, and no poverty eradication. Pursuing this policy framework, which would not allow Comoros to reach the GDP growth target of 7.5 percent by 2030 laid out in the national development plan, could result in GDP per capita of USD 1,890 and a poverty rate of 22.9 percent by 2050. By contrast, under a policy framework of ambitious reforms that include measures to increase inclusiveness, Comoros could reach a GDP per capita of USD 3,934 and reduce the poverty rate to below 5 percent by 2050. Supported by the continuous implementation of ambitious reforms, such a level of GDP per capita could have Comoros reach upper-middle-income status by 2050. Under this ambitious reform agenda, private investment would average 11.9 percent of GDP in 2023-2050, and total factor productivity growth would average 1.45 percentage points per year during the same period
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  • 42
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Growth ; Human Capital ; Investment and Investment Climate ; Macroeconomics and Economic Growth ; Private Investment ; Productivity Growth ; Public Investment
    Abstract: Bulgaria has followed sound macroeconomic policy in recent years and has weathered the Covid-19 economic crisis relatively well. The country embarked on a thorough transformation to a functioning market economy in the run-up to European Union (EU) membership in 2007 which, since 2018, has been followed by a firm course towards eurozone entry. But income convergence to average EU levels has been held back by low pre-crisis economic growth averaging only 2.1 percent in 2010-2019. At pre-Covid-19 crises growth rates, Bulgaria is not expected to converge to average EU income levels in the foreseeable future. The average income level masks substantial regional inequalities which continue to widen and undermine human capital formation and growth. A key constraint that can be seen in all growth policy areas, and also limits the pace of greening of the Bulgarian economy, is weak governance capacity and institutions. This report is organized around the World Bank long-term growth model (LTGM) which allows to simulate Bulgaria's growth path under different scenarios. The structure of the report focuses on the key identified constraints to and opportunities for Bulgaria's faster long-term economic growth and income convergence. The report discusses complementary policy areas when needed and refers to related studies for more in-depth analysis and policy options in these cases
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  • 43
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Growth ; Economic Outlook ; Fiscal Deficit ; Inflation ; Macroeconomics and Economic Growth ; Private Sector Lending ; Public DEBT
    Abstract: The economy has recovered to pre-pandemic levels and, with rising tourist arrivals, is expected to maintain a strong growth and poverty reduction trajectory over the medium term. Commodity price volatility is driving inflation and exerting pressure on fiscal and external balances, through costlier imports and higher subsidies. Despite recent improvements, public debt is expected to remain high, warranting continued efforts to reduce fiscal deficits, including comprehensive subsidy reforms while mitigating impacts on the vulnerable
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  • 44
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: IEG Evaluation
    Keywords: Access To Basic Services ; Agriculture ; Climate Change Impacts ; Economic Growth ; Environment ; Governance Indicators ; Macroeconomics and Economic Growth ; Sub-Saharan Africa
    Abstract: Between 1993 and 2013, Mozambique became one of the fastest-growing economies in Sub-Saharan Africa boosting incomes and living standards. Political and macroeconomic stability provided the foundation for robust growth led by a rebounding agricultural sector and significant donor support. Growth, however, decelerated beginning in 2016 in the face of low commodity prices, a hidden debt crisis, and natural disasters. In FY18, Mozambique was formally classified as a fragile country. The Covid-19 pandemic further eroded growth. In light of the country's evolving context, this Country Program Evaluation (CPE) reviews the World Bank Group's engagement in Mozambique over the period FY08 into FY21. The CPE assesses the extent to which the Bank Group's support was relevant to Mozambique's main development challenges and drivers of fragility as well as how Bank Group support evolved and adapted over time. The evaluation delves into four themes that are relevant to Mozambique's pursuit of the Bank Group's Twin Goals of Poverty Reduction and Shared Prosperity: (i) low agricultural productivity; (ii) unequal access to basic services; (iii) weak institutions and governance; and (iv) vulnerability to climate change and natural disasters. The evaluation presents findings from each of the four themes covered and distills lessons from Bank Group experience in Mozambique to inform future strategies and engagements
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  • 45
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Social Protection Study
    Keywords: Access To Capital ; Economic Growth ; Employment and Unemployment ; Human Capital Constraint ; Jobs ; Labor Market Policy ; Low Productivity Growth ; Macroeconomics and Economic Growth ; Poverty Reduction ; Social Protections and Labor
    Abstract: The persistent lack of good jobs that is, an inadequate level or quality of jobs, inefficient and/or inequitable jobs outcomes is a key economic issue in developing (and some developed) economies. Yet policy responses often lack an understanding of the causes. While the proximate drivers, such as low productivity growth, slow capital deepening, or a lack of firms and other organized economic actors, may share patterns, the policy roots and circumstances of these outcomes vary a great deal by country. Thus, making progress in a meaningful and lasting way requires, in the first instance, a clear understanding of the binding constraints which, if alleviated, would result in a substantial structural improvement to jobs outcomes. Binding constraints could arise in a host of policies and institutions, including possibly inadequate human capital and labor market policies but also in infrastructure, regulatory, financial, judicial and other areas. This paper provides a data-driven approach and framework for diagnosing the truly binding constraints to better jobs. The approach is to rule out broad categories of constraints using economic logic and data, and to utilize an array of empirical indicators to test whether remaining candidate constraints are binding. While this paper outlines an exhaustive approach, the style of thinking and techniques can also be applied selectively to fill analytical gaps and ensure that key issues are not left unaddressed
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  • 46
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (47 pages)
    Parallel Title: Erscheint auch als Bachas, Pierre Effective Tax Rates and Firm Size
    Keywords: Digital Technology Adoption ; Economic Growth ; ICT Data and Statistics ; Information and Communication Technologies ; Internet ; Labor Market ; Productivity ; Welfare
    Abstract: This paper provides a compressive synthesis of the most recent and widely cited literature on the effects of Information and Communication Technologies (ICTs) adoption at the country, firm, and individual levels. The study surveys and analyzes the available literature on the topics of economic growth and transformation, and highlights the main conclusions drawn by scholars, areas of ongoing debate, and remaining research questions that need to be addressed in future work. The adoption of ICTs has been found to contribute to higher GDP growth in many countries, although the exact mechanism of its impact on macroeconomic growth is still uncertain. At the firm level, digital technology has been shown to increase productivity, but it also intensifies competition and may result in job losses in certain industries or occupations. In terms of labor conditions, ICTs can provide more flexible work arrangements which could improve workers' welfare, but it can also lead to job insecurity and wage stagnation. At the individual level, digital technology can provide access to more knowledge and services, thereby improving welfare in areas such as health and education. In conclusion, ICTs adoption can have both positive and negative effects, depending on how it is understood by researchers, impacted by the private sector and regulated by governments. Policymakers in developing countries should consider these factors when designing policies to promote digital technology adoption. The effects of ICTs adoption at the macroeconomic, firm, and individual levels should be thoroughly evaluated to ensure that the benefits outweigh the potential negative consequences
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  • 47
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Digital Technologies Adoption ; Economic Forecasting ; Economic Growth ; Macroeconomics and Economic Growth ; Manufacturing ; Services Sector ; Skills
    Abstract: The services sector has been a critical contributor to economic growth in Vietnam but its performance lags comparators The services sector has been the economy's largest sector for the past decade. Looking ahead, services could play a crucial role in supporting Vietnam to sustain productivity growth and achieve its ambition to become a high-income economy by 2045. However, the performance of Vietnam's services sector lags peer countries. Small scale of firms, restrictions to services trade, low technological adoption and few inter-sectoral linkages affect productivity. Based on the preliminary analysis presented in this report, the four broad policy directions can be identified. First, Vietnam could further reduce restrictions to services trade and foreign investment. Second, Vietnam should encourage further adoption of digital technologies within firms to spur innovation. Third, focus should be on strengthening workers skills especially basic digital skills and the capabilities of firms and managers. Lastly, Vietnam should leverage services to promote further growth of other sectors, especially manufacturing
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  • 48
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Consumer Demand ; COVID-19 ; Economic Forecasting ; Economic Growth ; Low Inflation ; Macroeconomics and Economic Growth ; Unemployment ; Youth
    Abstract: Activity in China continues to track the ups and downs of the pandemic - outbreaks and growth slowdowns have been followed by uneven recoveries. After a downturn caused by the Coronavirus disease 2019 (COVID-19) outbreaks and stringent public health measures in April and May, activity picked up in the third quarter as infections receded. Gross domestic product (GDP) expanded by 3.9 percent y/y in Q3, from 0.4 percent in Q2. High frequency indicators suggest another growth slowdown in the fourth quarter amid a return of high COVID-19 cases. Despite fiscal and monetary policy support, real GDP growth is expected to slow to 2.7 percent in 2022 - 1.6 percentage points lower than projected in the June China economic update. In 2023 growth is projected to recover to 4.3 percent but remain below the potential rate
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  • 49
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Economic and Sector Work Reports
    Keywords: Adaptation to Climate Change ; Climate Change Economics ; Climate Change Policy and Regulation ; Climate Development ; Economic Growth ; EMDES ; Energy Transition ; Environment ; Finance and Development ; Finance and Financial Sector Development ; Fiscal Space ; Inclusive Recovery ; Macroeconomics and Economic Growth ; Public Sector Development ; Sustainability ; Transformation
    Abstract: This report makes the case for a big investment push for EMDEs' sustainable recovery and development, assesses the magnitude and composition of such investment, presents actions needed for an energy transition, looks at the role that innovations and state capacity can play in facilitating GRID, and proposes actions that governments, the private sector, MDBs, the IMF, and donors can undertake to mobilize financing at the large scale needed. The report summarizes the insights derived from the meetings of the High-Level Advisory Group (HLAG) on Sustainable and Inclusive Recovery and Growth, jointly led by Mari Pangestu, Ceyla Pazarbasioglu, and Nicholas Stern, and composed of experts from research institutions, the private sector, and governments, as well as senior World Bank Group and IMF staff members. The work of the HLAG, and thus this report, focuses on EMDEs and delves in greater depth into climate investment and financing, particularly for energy transition, as it is a less researched area. While doing so, it recognizes that policy and investment decisions in high-income countries, which accounted for only 16 percent of the global population in 2019 and yet for 32 percent of total greenhouse gas emissions (World Bank 2023a, 2023b), will be critical to whether the Paris Agreement goals can be reached. It also recognizes that these countries must play a key role in contributing financially to EMDEs' transition to low-carbon economies
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  • 50
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Financial Sector Study
    Keywords: Banking Supervision ; COVID-19 ; Economic Growth ; Economic Stabilization ; Finance and Development ; Finance and Financial Sector Development ; Financial Stability ; Macroeconomics and Economic Growth ; Macroprudential ; Microprudential
    Abstract: Over the past two years, the World Bank has been working with Pacific Island Countries (PICs) to assess the impact of the COVID 19 pandemic on their financial systems and provide guidance to the PIC prudential authorities on policy issues relating to strengthening the resilience of financial systems in the region. As part of this work program, the World Bank produced a series of seven deep dive papers on a range of issues relating to financial stability in the PICs. Each paper was presented during an online workshop with the prudential authorities of the PICs and followed by a Questions and Answers session. The papers in the series are: COVID-19 and financial stability: guidance on financial system surveillance in the pandemic, COVID-19 and stress testing, micro prudential and macro prudential policy: seeking the right balance, early intervention in banking supervision, recovery planning for banks, bank resolution, and financial safety nets This volume pulls together these deep dive papers while being mindful that each paper stands on its own. Yet, an integrated approach is needed in all these policy areas, and it is vital to tailor reforms to country specific circumstances This recognizes that, even in a stable financial system there will inevitably be periods of financial stress and that there is a need to ensure that frameworks are in place to address these events cost-effectively and in ways that preserve market discipline, avoid moral hazard and minimize fiscal risks. Private
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  • 51
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Delivery Systems ; Economic Forecasting ; Economic Growth ; GDP ; Macroeconomics and Economic Growth ; Reform ; Social Protection ; Social Protections and Assistance ; Social Protections and Labor
    Abstract: The global economy continues to face steep challenges, but Timor-Leste's economy is slowly recovering. Nevertheless, gross domestic product (GDP) per capita has not returned to pre-pandemic levels. Consumer price inflation reached 7.9 percent yoy in August 2022, one of the highest in the East Asia Pacific region. The real effective exchange rate (REER) has appreciated by about 10 percent since the first quarter of 2021. Enhancing productive capabilities through structural reforms and improving quality of public spending hold the key for accelerating and sustaining economic development. Extending the life of petroleum fund through fiscal consolidation is essential to delay the fiscal cliff and ensure the perpetuation of government spending to support economic growth. Despite receding impact of the pandemic, the level of government spending has not returned to the pre-COVID 19 levels
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  • 52
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Banking Sector ; Economic Forecasting ; Economic Growth ; Financial Economics ; Inflation ; Labor Market ; Macroeconomics and Economic Growth
    Abstract: Global growth has slowed markedly, edging closer to falling into recession. Meanwhile, growth in the East Asia and Pacific (EAP) region, excluding China rebounded, diverging from the global trend, as mobility restrictions were removed. Malaysia's growth during the quarter was also the highest relative to other regional countries. Like its regional peers, the Malaysian economy bucked the global trend and recorded a strong growth in Q3 2022. Malaysia's strong performance in Q3 2022 - and for 2022 overall - was in part due likely to the withdrawals from the employee's provident fund (EPF) which contributed to higher private consumption in Malaysia than in other countries. In addition, improved labor market conditions, other government policy measures such as the increase in the minimum wage and cash assistance programs such as Bantuan Keluarga Malaysia provided additional support. On the supply side, all economic sectors expanded during the period
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  • 53
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Debt Management ; Economic Growth ; Financial Economics ; Fiscal and Monetary Policy ; Fiscal Developments ; Inflation ; Labor Market ; Macroeconomics and Economic Growth ; Monetary Policy ; Public Investment
    Abstract: Despite a challenging global environment, Jordan's growth exceeded expectations during the first half of 2022. Propelled by a strong rebound in international tourism, the full reopening of the economy, and improving exports, real GDP accelerated to 2.7 percent. However, the rebound in economic activity was only modestly reflected on labor market indicators with unemployment rates declining only gradually. Inflation has reached its highest level since 2018 but remains contained compared to regional peers, due to temporary fuel subsidies and a number of other price control measures introduced in 2022. Yet, the untargeted subsidy support came at a fiscal cost as fiscal consolidation adjustments have slowed down despite good tax performance. On the external front, elevated global commodity prices led to a significant rise in Jordan's import bill, outpacing the effect of the increased merchandise exports and tourism. Moreover, capital and financial inflows did not keep up with the widening current account deficit, resulting in a widening of the balance of payment deficit and a drawdown in foreign exchange reserves. Nonetheless, due to its substantial reserve buffers, the Central Bank's gross foreign reserves remained at an adequate level, while Jordan continues to retain investors' confidence and access to foreign financial markets. Jordan's economic recovery in 2022 is expected to be driven by a full rebound of the services sector, helped by the full reopening of the economy and a strong rebound in tourism. However, highly volatile global fuel and food prices are impacting both domestic consumption and the trade balance. Risks surrounding Jordan's outlook include a looming global economic downturn, prolongation of the global food and energy crisis, and the impact of higher borrowing costs and widening losses from state-owned water and electricity sectors on debt dynamics. The Special Focus highlights the role of public investment as a driver of growth, with a particular focus on its recent trends, as well as its efficiency and effectiveness. This is particularly relevant given Jordan's constrained fiscal envelope. Public investment spending has been suffering from a steady decline during the past two decades to meet the fiscal consolidation targets, consistent under-execution, large dependency on external aid and lack of budget for operation and maintenance cost. Its efficiency can be maximized by having in place financially realistic long-term strategic planning, transparent project selection and an adoption of a medium-term perspective. Purposefully integrating climate concerns in public investments would also advance the country's achievement of its climate targets
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  • 54
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Economic and Sector Work Reports
    Keywords: Economic Forecasting ; Economic Growth ; Economic Integration ; Halloumi ; Hellim ; Macroeconomics and Economic Growth ; Turkish-Cypriot ; Women and Youth
    Abstract: The Turkish Cypriot economy (TCe) has struggled to recover since the onset of the COVID-19 pandemic in early 2020. With a contraction of 16.2 percent in GDP in 2020, when the COVID-19 pandemic first took hold, the TCe experienced the most severe recession in its history, and the most severe recession among the economies of Europe. Moreover, just as other economies were beginning to recover, in 2021 the TCe underwent a phase of exceptional political uncertainty and numerous exogenous shocks, testing its resilience. With the emergence of new variants of the virus, the COVID-19 pandemic continued to adversely impact the TCe throughout 2021, with cases reaching a new peak at the end of 2021 despite the Turkish Cypriot (TC) administration's efforts to prevent the spread of the virus, together with its support for the health system, households, and companies. Furthermore, a new record low in average precipitation in 2021, a series of earthquakes at the beginning of 2022, and weak energy security, with a recent series of power outages experienced across the island, have all revealed the intrinsic vulnerabilities of the island to climate change and natural disasters. Building a competitive private sector would require reforming business regulations and procedures that are under the mandate of the TC administration, and that should be aligned with international best practices and the EU Acquis, irrespective of the broader context of the political economy. Special attention should be devoted to the regulation concerning imports and GL trade. Pre-permits and licenses imposed by the TC administration on imports, on top of regulatory uncertainty and other cumbersome procedures, contribute to increasing prices, penalizing consumers, and eroding domestic competitiveness. A dialogue framework between GC and TC private sectors could be established to support solutions to the long-standing constraints that have been impeding business cooperation across the GL, for the benefit of all Cypriots
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  • 55
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Adaptation to Climate Change ; Biodiversity ; Climate Change ; Economic Forecasting ; Economic Growth ; Environment ; Environmentally Protected Areas ; Food Prices ; Macroeconomics and Economic Growth ; Nature-Based Tourism ; Poaching ; Private Sector ; Protected Areas
    Abstract: The Rwandan economy continued to achieve strong growth in 2022 in the face of weakening external demand and restrictive monetary policies required to control inflation. Rising food prices particularly affected the poor, who devote a large share of their spending to food and appear to have faced higher food inflation than richer households did. Growth is expected to decline somewhat in 2023 and then to recover closer to historical rates over the medium term. Tourism is a major source of Rwanda's foreign exchange earnings and tends to generate a higher proportion of formal sector jobs than other sectors and could make a substantial contribution to growth. Within tourism, strengthening the provision of nature-based tourism, which accounts for eight percent of leisure and conference visitors in Rwanda would also help protect biodiversity and advance Rwanda's efforts to adapt to climate change. Nature-based tourism faces significant challenges, including potential limits on expansion of revenues from one of the primary international attractions - gorilla trekking, degradation of the natural assets that underpin the sector, risks presented by infectious diseases, habitat change and overexploitation, and the impact of climate change on tourism demand. Key measures to promote nature-based tourism will need to include expanding the network of protected areas and improving management of the natural assets within and outside protected areas and diversifying the nature-based tourism's offering while complementing efforts to diversify tourism activities. Efforts are required to enhance revenue sharing mechanisms to increase incentives for local communities to conserve natural assets and unlock new opportunities and community-led enterprises that generate revenue from tourism and sustainable management of natural resources, including forests. This is essential to address poverty, to mitigate poaching threats, other illegal activities, and reduce unsustainable exploitation of resources. It is also imperative to secure private sector participation in financing and operation of facilities by introducing innovative financing methods to secure the necessary investment, strengthening capacity and management of tourism facilities and services, and removing subsidies that contribute to environmental degradation
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  • 56
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Forecasting ; Economic Growth ; Economic Insecurity ; Hydrocarbon Revenues ; Inflation ; Macroeconomics and Economic Growth ; Non-Hydrocarbon ; Private Sector ; Resilience
    Abstract: The recovery continued in the first semester of 2022, supported by nonhydrocarbon activity and crude oil production. The continuing high level of global hydrocarbon prices prolonged the upturn of external balances. The budget deficit is expected to narrow moderately in 2022, as the strong increase in public expenditure compensates for most of the increase in revenues. The economic recovery should continue in 2023, supported by the nonhydrocarbon sector and public expenditure growth. The main risks to the macroeconomic outlook arise from fluctuations in global hydrocarbon prices, underscoring the importance of the Government's current reform program
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  • 57
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Development ; Economic Forecasting ; Economic Growth ; Fiscal and Monetary Policy ; International Trade ; Macroeconomics and Economic Growth ; Public Spending ; Social Assistance ; Tax Reforms ; Transformation
    Abstract: The Russia-Ukraine war has disrupted global trade and supply chains, exacerbating the rise in global commodity and food prices. Persistently high global inflation accompanied by tepid growth brings fears of stagflation that could endure for several years. Amidst this environment, the US Federal Reserve and other advanced economy central banks sharply tightened monetary policy to curb inflation. This has translated into tighter external financing conditions and financial stress for some emerging markets and developing economies (EMDEs) as capital outflows have intensified. Despite global slowdown, Indonesia has experienced strong growth in 2022 thanks to commodity windfalls and a reopening of the economy. Indonesia's external vulnerability has been low to moderate as strong exports have supported the external balance although tighter global finances have put some pressure on the capital account. Indonesia is projected to have a robust growth over the next three years though with significant downside risks emanating from the global economic environment. To address current macrofiscal policy challenges, the report highlights three policy and institutional areas that may warrant attention going forward. The first is about continuing with the implementation of tax reforms to broaden the tax base and improve compliance of business tax collection. The second is related to public spending where the authorities could over time move towards a rules-based pricing model for energy to contain subsidy pressures. The third is improving targeting and expanding coverage of existing social assistance and social insurance programs. This means filling coverage gaps, developing a system that provides a guaranteed minimum protection across the lifecycle, and strengthening delivery systems
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  • 58
    Language: English
    Pages: 1 Online-Ressource (42 pages)
    Parallel Title: Erscheint auch als Karra, Mahesh Liberian Women Count: Evidence from a Macrosimulation of the Gender Dividend
    Keywords: Demography ; Economic Contribution Of Women ; Economic Growth ; Gender ; Gender Dividend ; Inequality ; Macrosimulation ; Time Allocation ; Value Of Domestic Work ; Women's Empowerment ; Women's Human Capital
    Abstract: Liberian women make significant economic contributions yet are constrained from contributing even more due to their exclusion from productive opportunities. This study develops a macrosimulation model of the Gender Dividend that estimates the economic contributions of women and the societal costs incurred by excluding them. Using macroeconomic, demographic, and survey data from Liberia, the analysis finds that women were responsible for 39 percent of market-based output produced annually in 2020, equal to USD 1.08 billion, and contributed another USD 530 million in non-tradable sources of production, namely, housework and domestic chores. Using the macrosimulation model, the study estimates that if the gender gaps in labor force participation, intra-sectoral wages, and sector of employment were closed, gross domestic product would be 11.5 percent higher. If further reforms were undertaken to equalize education and reduce fertility rates to a net-reproduction rate, gross domestic product would be 23.7 percent higher. Finally, if the model also accounts for the value of non-tradable production, gross domestic product would be USD 5.89 billion, or 45.3 percent higher than today's estimates, with women being responsible for 53 percent of the labor market output. These estimates reinforce the need for a unified policy agenda that actively invests in women's human capital and work-related opportunities simultaneously
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  • 59
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (52 pages)
    Parallel Title: Erscheint auch als Benetrix, Agustin The Elusive Link between FDI and Economic Growth
    Keywords: Economic Growth ; Financial Depth ; Financial Development ; Financial Sector Development ; Foreign Direct Investment (FDI) ; Human Capital ; Macroeconomics and Economic Growth
    Abstract: This paper revisits the link between FDI and economic growth in emerging and developing economies. Analysis of the early decades of the sample shows that there is no statistically significant correlation between FDI and growth for countries with average levels of education or financial depth. In line with previous contributions, this correlation is positive and statistically significant for countries with sufficiently well-developed financial sectors or high levels of human capital. However, the findings also show that the link between FDI and growth varies over time. For more recent periods, there is a positive and statistically significant relationship between FDI and growth for the average country, with local conditions having a negative effect on this link. The paper also develops a novel instrument aimed at addressing the endogeneity of FDI inflows. Instrumental variable estimates suggest that the results are unlikely to be driven by endogeneity, and the results on the role of absorptive capacities may be due to the GVC revolution in the 1990s
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  • 60
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: IEG Evaluation
    Keywords: Climate Change ; Development Challenges ; Economic Growth ; Food Insecurity ; Macroeconomics and Economic Growth ; Natural Disasters
    Abstract: Somalia is today among the poorest and most fragile countries in the world, facing myriad development challenges related to ongoing conflict, climate change, food insecurity, natural disasters, and displacement. Overlapping crises related to the COVID-19 pandemic, a prolonged drought, and macroeconomic shocks from rising food and fuel costs have worsened socioeconomic conditions (World Bank 2022). Seventy-one percent of Somalis lived in extreme poverty in 2021, compared with 28 percent for Sub-Saharan Africa (World Bank 2021). Average life expectancy was 57.4 years, and maternal mortality stood at 734 for every 100,000 births (World Bank 2018d). The country's Sustainable Development Goal ranking was 160th out of 163. The Somalia Country Program Evaluation (CPE) will assess the evolution of the World Bank Group's support over fiscal years (FY)13-22 and the extent to which the Bank Group adequately prepared for an eventual normalization of relations with Somalia, tailored its support to the conflict and fragility situation in Somalia and evolving circumstances and country priorities, and learned from experience. It will seek to inform the preparation of the next Somalia Country Partnership Framework (CPF) and may be relevant to broader Bank Group engagement in countries affected by fragility, conflict, and violence (FCV)
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  • 61
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Poverty Assessment
    Keywords: COVID-19 ; Economic Growth ; GDP ; Macroeconomics and Economic Growth ; Pandemic
    Abstract: In Azerbaijan, economic growth was 4.6 percent in 2022, driven by non-energy sectors supported by recovering demand and fiscal expansion. Inflation accelerated sharply to 13.8 percent, driven by import prices. In the medium-term, growth is expected to moderate as non-energy sector growth returns to pre-COVID levels while the energy sector shrinks further. Risks to this outlook are balanced. This Macro Poverty Outlook presents GDP, debt and fiscal forecasts and examines the implications for critical economic and social concepts such as growth, poverty reduction and macroeconomic stability
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  • 62
    Language: English
    Pages: 1 Online-Ressource (55 pages)
    Series Statement: Middle East and North Africa Economic Update
    Parallel Title: Erscheint auch als
    Keywords: Data Opacity ; Economic Growth ; Forecasting Growth ; Inadequate Data System ; Inflation ; Oil ; Oil Exporters ; Oil Importers ; Oil Prices ; Recovery
    Abstract: Growth is forecasted to slow down for the Middle East and North Africa region. The war in Ukraine in 2022 exacerbated inflationary pressures as the world recovered from the COVID 19 pandemic-induced recession. The response by central banks to raise rates to curb inflation is slowing economic activity, while rising food prices are making it difficult for families to put meals on the table. Inflation, when it stems from food prices, hits the poor harder than the rich. Moreover, food insecurity in MENA has been rising over decades. The immediate effects of food insecurity can be a devastating loss of life, but even temporary increases in food prices can cause long-term irreversible damages, especially to children. The rise in food prices due to the war in Ukraine may have altered the destinies of thousands of children in the region, setting them on paths to limited prosperity. Food insecurity imposes challenges to a region where the state of child nutrition and health were inadequate before the shocks from the COVID-19 pandemic. The report discusses policy options and highlights the need for data to guide effective decision making
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  • 63
    Language: English
    Pages: 1 Online-Ressource (100 pages)
    Series Statement: Africa's Pulse
    Parallel Title: Erscheint auch als
    Keywords: Debt vulnerabilities ; Economic Growth ; Energy Access ; Fiscal Space ; Inflation ; Investment ; Minerals ; Natural Resources ; Oil
    Abstract: Economic growth in Sub-Saharan Africa slowed to 3.6 percent in 2022, from 4.1 percent in 2021 but may be bottoming out. Weak investment growth and macroeconomic instability are weighing on economic activity. Inflation remains persistently high and above target despite early and sizable interest rate increase. Amid unfavorable global financial conditions and high levels of debt, African policymakers must bank on their domestic policy space to restore macroeconomic stability, deepen structural reforms to foster inclusive growth, and implement policies that harness the region's resource wealth during the low carbon transmission. This natural wealth holds significant untapped economic potential to address fiscal challenges and drive economic transformation. The low carbon transition is irreversible and will be intensive in the minerals required for the clean energy transition, many of which are abundant across Africa
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  • 64
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Carbon-Neutral ; Economic Growth ; Finance and Financial Sector Development ; Fiscal and Monetary Policy ; Fiscal Policy ; Household Incomes ; Housing Finance ; Inflation ; Labor Market ; Macroeconomics and Economic Growth ; Private Investment
    Abstract: Economic activity bounced back in Q1 2023 with the removal of mobility restrictions and a surge in spending on services. However, growth momentum has slowed since April, indicating that China's recovery remains fragile and dependent on policy support. China's GDP growth is projected to rise to a 5.6 percent in 2023, led by a rebound in consumer spending. The economic recovery offers an important opportunity for policymakers to refocus their efforts on achieving China's longer-term development objectives. Structural reforms remain crucial to solidify the recovery and achieve the longer-term goals to (i) become a high-income country by 2035 through productivity-led and environmentally sustainable growth; (ii) peak carbon emissions before 2030 and become carbon-neutral by 2060; and (iii) share the gains from economic growth more equally among the population
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  • 65
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Public Expenditure Review
    Keywords: Economic Growth ; Employment ; Finance and Financial Sector Development ; Financial Sector and Social Assistance ; Fiscal and Monetary Policy ; Macroeconomics and Economic Growth ; PER ; Poverty Reduction ; Public Spending ; Social Assistance ; Western Balkans
    Abstract: Kosovo has gained a creditable reputation for prudent macro-fiscal management; yet necessary structural reforms and related fiscal pressures lie ahead. The country's track record includes consistently high output growth rates, prudent fiscal deficits supported by fiscal rules, and one of the lowest public debt levels among peers. The Government was able to successfully weather the COVID-19 crisis and mitigate the impact of the ongoing inflationary crisis caused by the Russian invasion of Ukraine thanks to its healthy fiscal accounts and stable financial sectors. At the same time, however, the overlapping external shocks have highlighted the inherent volatility that mirrors Kosovo's structural limitations - especially in health, energy, and education - and accentuates gaps in both human and physical capital. The objective of this Public Expenditure Review (PER) is to help the government identify means for improving the structure and quality of public services, enhance the equity of government spending, and take a holistic view of policies that will affect financing needs over time. To do so, the PER has analyzed fiscal issues that have not been explicitly detailed in, or are in the process of being incorporated into, the medium-term expenditure framework and the economic reform program. The most notable issues include the urgently needed energy investments, the ramifications of the new law on public salaries on the budget, the sustainability of the untargeted social protection system, and possible pathways of the cost of pensions in light of expected changes to eligibility criteria, and the health spending and health financing conundrum. The PER also looks back at past World Bank PER recommendations and their implementation record, in the attempt to shine a light on measures that remain valid and could still be implemented
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  • 66
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Policy Notes
    Keywords: Disease Control and Prevention ; Economic Growth ; Health, Nutrition and Population ; Human Capital ; Impact ; Macroeconomics and Economic Growth ; NCDS ; Noncommunicable Diseases
    Abstract: Noncommunicable diseases (NCDs) hamper the development of human capital for current and future generations. NCDs are chronic conditions that are often untreatable and require close monitoring to control the progression of the disease. They account for 70 percent of all deaths worldwide and directly affect countries' economies, as every 10 percent increase in mortality due to NCDs reduces economic growth by 0.5 percent. NCDs have a direct and indirect impact that threatens the human capital of current and future generations
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  • 67
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Growth ; Economic Sanctions ; Financial Sector ; Fiscal Policy ; Inflation ; International Economics and Trade ; Macroeconomics and Economic Growth ; Trade ; Trade and Regional Integration
    Abstract: Kazakhstan's economy is set to experience a moderate growth acceleration, with real GDP forecast to rise by 3.5 percent in 2023 and 4 percent in 2024, propelled by the hydrocarbons sector, as oil production increases. Inflation has surged to its highest level since the late 1990s due in part to wage increases across sectors and crisis-related fiscal measures. Inflation is expected to remain high in 2023 due to elevated food prices and prices of imported intermediate goods. The outlook for growth faces several downside risks. Any further disruptions to the operation of the Caspian Pipeline Consortium could lead to losses in production volumes and fiscal revenues, posing downside risks to growth. The persistent high domestic inflation is a serious challenge, particularly for the most vulnerable households, and could potentially amplify the risk of social tensions. Additional tightening of global financial conditions due to geopolitical tensions, energy crisis, and high inflation may pressure the exchange rate, leading to potential capital flow volatility
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  • 68
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Adaptation To Climate Change ; Air Quality ; Carbon Footprint ; Climate Change Economics ; Decarbonization ; Economic Forecasting ; Economic Growth ; Environment ; Growth Prospects ; Inflation ; Low-Carbon ; Macroeconomics and Economic Growth ; Monetary Policy
    Abstract: Kenya's economic performance softened in 2022, steering towards country's long-term growth rate. Real GDP expanded by 4.8 percent in 2022, a deceleration compared with the strong rebound from the Covid-19 crisis at 7.5 percent annual growth in 2021 but broadly aligned with growth rates of Kenya's potential GDP as well as of the pre-pandemic decade. The adverse weather shock of the last two years has been a major drag on economic growth, with growth in real GDP excluding agriculture standing at 6.3 percent in 2022. Besides, the impacts of tightening of domestic macroeconomic policies and challenging global financial conditions significantly hurt domestic economic activity, especially in the latter half of the year
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  • 69
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Women in Development and Gender Study
    Keywords: Economic Cost ; Economic Growth ; Female Entrepeneurship ; Gender and Development ; Gender and Economics ; Gender Gaps ; Macroeconomics and Economic Growth ; Women
    Abstract: This report examines the state of female entrepreneurship in Indonesia, outlines major binding constraints and gender gaps, and highlights the untapped potential that could be realized if key barriers were lifted. The report draws on quantitative analysis of household- and firm-level surveys, the collection and review of qualitative work with male and female entrepreneurs across the country, a review of global evidence on gender and entrepreneurship, and analysis of relevant policies, laws, and regulations in Indonesia. The report also offers a novel analysis of the potential economic dividends from closing gender gaps in business performance in Indonesia
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  • 70
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Financial Sector Assessment Program
    Keywords: EAP ; Economic Growth ; Finance and Development ; Finance and Financial Sector Development ; Financial Sector ; Macroeconomics and Economic Growth ; Private Sector ; Technical Assistance
    Abstract: The overarching objective of the Seoul Center for Finance and Innovation partnership was to improve and develop financial and private sectors in the East Asia and Pacific (EAP) region by delivering better technical assistance and advisory services to EAP countries. To achieve this objective, the Seoul Center provides grants to provide demand-driven, priority technical assistance and support capacity-building needs in EAP client countries. Since 2012, a total of 32 KTF grants have been allocated to 10 EAP countries and 2 regions (EAP and Global) in three phases. This limited scope impact assessment was undertaken on behalf of the Finance, Competitiveness, and Innovation Seoul Center Korean Trust Fund (KTF) in accord with an agreed term of reference. The purpose of this assignment is to carry out an independent impact assessment of select East Asia Pacific (EAP) country-level technical assistance and advisory grant funded projects completed over ten years from 2012 through 2022. The assessment of results realized focused on fifteen country-level TA and advisory KTF grant funded activities concluded by end-2022
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  • 71
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: IEG Independent Evaluations and Annual Reviews
    Keywords: Constraints ; Economic Development ; Economic Growth ; Macroeconomics and Economic Growth ; Policy Coherence ; Policy Implementation ; SOES
    Abstract: This Country Program Evaluation assesses the development effectiveness of the World Bank Group's support to Morocco between fiscal year FY11 and FY21. The report evaluates the World Bank Group's contribution in solving four systemic constraints to Morocco's development: (i) lack of policy coherence with the country's development aspirations; (ii) an uneven economic playing field that favors some firms and stateowned enterprises (SOEs), creates rent-seeking behaviors, and discourages new entrants; (iii) weak policy implementation caused by the limited public sector capacity to carry out reforms; and (iv) weak citizen, labor force, and subnational participation in the country's development. This evaluation identifies lessons to guide future World Bank engagement in Morocco, including: (a) at times, it is possible for the World Bank to gain traction in Morocco's policy reforms by trading recognition for influence; (b) global benchmarking data can be effectively utilized to motivate reforms; (c) IFC can significantly impact the business environment and financial architecture reforms by effectively deploying its advisory work to influence major companies, including SOEs, in making institutional changes; (d) the experience of PforR operations in Morocco suggests that to maximize their effectiveness, the World Bank needs to proactively involve the full range of stakeholders and ensure resources are deployed for technical assistance gaps; and (e) engagement at the subnational level requires the ability and willingness to take new risks and experiment with new approaches
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  • 72
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Disease Control and Prevention ; Economic Growth ; GCC ; Gulf Cooperation Council ; Health, Nutrition and Population ; Inflation ; Macroeconomics and Economic Growth ; NCDS ; Non-Communicable Diseases
    Abstract: The Gulf Cooperation Council (GCC) economies performed strongly in 2022. Amidst a year of economic uncertainty marked by inflation, geopolitical crises, and supply chain insecurity, the GCC region registered remarkable GDP growth of 7.3 percent in 2022. Progress made on structural reforms are bearing fruits on the economy. Despite the uptick, inflation remains relatively muted in comparison to other high-income countries. Looking ahead, the GCC region is projected to grow at a slower pace. The main contributors to this growth are private consumption, fixed investments, and government expenditures through looser fiscal policy in response to high oil revenues. However, downside risks to the outlook are numerous. Special Focus: Non-Communicable Diseases (NCDs) pose a major health burden to the population and governments of the GCC. NCDs are also a growing concern from an economic perspective. To mitigate the health and economic burden of NCDs, the region needs to scale up efforts to target the behavioral and environmental risk factors of NCDs. Effectively addressing NCDs requires a whole-of-government approach, and the effective implementation and monitoring of targeted, evidence-based solutions. Addressing the risk factors of NCDs requires an increased strategic focus on prevention over treatment, targeting of the young and adolescents, and the development and implementation of evidence-informed, cost effective, high impact interventions. Governance structures that can effectively mobilize, incentivize, and hold accountable the many non-health sectors in the implementation and monitoring of cost-effective interventions are critical
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  • 73
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: CEMAC ; Economic Forecasting ; Economic Growth ; Energy Sector Regulation ; Fossil Fuel Subsidies ; Fuels ; Hydrocarbon Prices ; Inflation ; Macroeconomics and Economic Growth ; Social Safety Nets
    Abstract: The Gabon Economic Update is an annual World Bank publication that presents an overview of the evolving macroeconomic position in Gabon, followed by a detailed exploration of a specific topic in each edition. The first chapter analyzes recent economic developments, as well as the macroeconomic outlook and risks for Gabon's future growth. It presents policy actions that could help strengthen fiscal and debt sustainability, contain food inflation, and sustain a resilient growth path. The second chapter of this year's Economic Update has a special focus dedicated to fossil fuel subsidies, which represent a growing fiscal burden in Gabon. This chapter analyzes the costs of fuel subsidies and discusses policy options for alleviating their fiscal impact while protecting the most vulnerable groups in the country
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  • 74
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other ESW Reports
    Keywords: Cooperation ; Cross-Border ; Economic Development ; Economic Growth ; Engagement ; Macroeconomics and Economic Growth ; Regional Integration
    Abstract: A key objective of the World Bank's South Asia Regional Integration, Cooperation and Engagement (RICE) approach is broadening evidence-based communication and outreach activities that will help strengthen the case for RICE and generate domestic demand. The 'Good Neighbours' series showcases successful cross-border stories demonstrating regional cooperation to build support for regionalism in South Asia
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  • 75
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Financial Sector Assessment Program
    Keywords: DEBT ; Economic Forecasting ; Economic Growth ; Excessive Credit Growth ; Finance and Development ; Finance and Financial Sector Development ; Financial Inclusion Gaps ; Financial Sector Reform ; Macroeconomics and Economic Growth
    Abstract: The Republic of Korea's astonishing economic development commenced shortly after the end of the Korean war. Today, Korea is the world's tenth largest economy based on gross domestic product, a key development partner of the World Bank Group, an important contributor to the International Development Association, the fund established to support the world's poorest countries, and a unique international donor. Over the past decade, the East Asia and Pacific region has experienced significant economic growth and development. This has been especially evident in the financial sector. Nevertheless, many challenges remain. Risks such as excessive credit growth, asset bubbles, high levels of household and corporate debt have emerged, increasing the vulnerability of the financial sector to shocks. Consequently, ensuring the stability and resilience of the financial sector is crucial for sustainable economic development in the region. When it comes to financial inclusion, despite the good progress made in many developing countries in the region, there are still significant gaps across the region. A large portion of the population in some countries in the region especially in rural areas and among vulnerable groups, still lack access to formal financial services such as savings account and payment systems. This hampers their ability to save, invest and participate in the formal economy, limiting their economic opportunities and potential growth. Against this backdrop, with the support of the Korea Trust Fund, the World Bank has made a significant impact in enhancing the financial sector in the East Asia and Pacific region. These selected stories speak to the positive impact that the Seoul Center's partnership with the Ministry of Economy and Finance has had within the recipient countries. The booklet presents these in detail
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  • 76
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (38 pages)
    Parallel Title: Erscheint auch als Doumbia, Djeneba Issuer Composition and Stock Market Growth
    Keywords: Domestic Stock Market Growth ; Economic Growth ; Economic Outcome of Stock Issuers ; Economic Theory and Research ; Equity Issuers ; Finance and Development ; Finance and Financial Sector Development ; Issuer Composition ; Macroeconomics and Economic Growth ; Sectoral Diversity ; Stock Market
    Abstract: Does issuer composition change as stock markets grow, and, if so, how An increase in market capitalization may be driven by growth on the intensive or extensive margin. Such growth may also influence the level of market concentration and diversity among listed firms. Using a novel dataset, this paper examines how the number, concentration, and sectoral diversity of issuers change as domestic stock markets grow, with a focus on low- and middle-income countries. The results show that an increase in stock market capitalization tends to be associated with only growth on the intensive margin. Greater market activity, however, is linked to entry of new issuers and for low- and middle-income countries, also to marginally lower market concentration. However, there is no evidence that sectoral diversity changes with market size or activity. These findings have important implications for firm financing as stock markets may not necessarily become more inclusive as they grow
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  • 77
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other ESW Reports
    Keywords: Economic Growth ; Gender and Economics ; Gender Gaps ; Labor Markets ; Macroeconomics and Economic Growth ; Social Protections and Labor ; Township Level ; Wellbeing ; Work ; Workers
    Abstract: Myanmar's economy has been affected by numerous internal and external shocks since 2020. This report takes stock of the effect of these shocks on Myanmar's workers and their well-being using a reliable new source of household data. The report compares employment indicators from 2017 and 2022 to spotlight the extent of adversity faced by workers and households. Employment indicators for 2017 are based on official Myanmar living conditions survey (MLCS) data. MSPS provides reliable employment indicators at the sub-national level for 2022 that are comparable with baseline official data from 2017. MSPS provides reliable employment indicators at the sub-national level for 2022 that are comparable with baseline official data from 2017. While anchored in the MSPS, this report complements quantitative data with qualitative insights from the community welfare monitoring surveys, in particular the March 2023 round, conducted by the World Bank since 2020. This report is organized as follows: chapter 1 provides a snapshot of overall labor market changes since 2017 and focuses on disparities by gender, employment type, industry of occupation, and other worker characteristics. Chapter 2 analyzes similarities and differences in level employment indicators by state and regions. Chapter 3 concludes by spotlighting key township level characteristics that have influenced workers, their work prospects, and their overall well-being
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  • 78
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Business Environment ; Economic Forecasting ; Economic Growth ; Growth and Prices ; Macroeconomics and Economic Growth ; Payments ; Poverty Projections ; Private Sector ; Private Sector Development ; Public Finances
    Abstract: Private sector participation in the Tajik economy is relatively large, but dynamism is very low. Analysis with micro-level data points to multiple weaknesses: low entry rate, low productivity, limited integration to trade, low incidence of innovation, and limited capabilities. Also revealing is that private firms struggle to grow as they age. All these aspects reflect a business environment that does not reward the more efficient firms or those with the highest growth potential. The Covid-19 effects brought additional challenges to this low-level equilibrium scenario with shocks in sales and financial distress. The silver line aspect stems from the increasing use of digital technologies. Still, the apparent digital divide regarding firm size poses questions on the real implications for future productivity performance. Against this backdrop, and to tackle the long-term weaknesses of the private sector in Tajikistan, it is crucial to remove barriers that prevent the reallocation of resources towards more productive firms so that the private sector becomes more efficient and able to generate more and better jobs. In this case, and to prioritize measures that maximize effects on aggregate demand in the short-medium-run, it is crucial to give precedence to structural policies that remove impediments to firm entry and expansion of the private sector. Three sets of barriers deserve particular attention: (i) barriers to competition, (ii) barriers to foreign direct investment, and (iii) trade barriers. These barriers must be tackled together because they all reinforce each other regarding firms' competitiveness
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  • 79
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Country Economic Memorandum
    Keywords: Competition ; Economic Growth ; ICT Applications ; Inclusion ; Increased Productivity ; Information and Communication Technologies ; Linkages ; Macroeconomics and Economic Growth ; Services Sector ; Technology ; Trade
    Abstract: Kenya's economy has been growing solidly but maintaining and increasing growth will depend on increasing private investment and productivity. Between 2010 and 2019, Kenya maintained a steady annual growth rate of 5 percent and the economy was able to rebound relatively rapidly from the COVID-19 pandemic. However, productivity growth did not make much of a contribution to output growth, and growth has been lower than that of some other, fast-growing middle-income countries. This points to the potential for Kenya to increase growth via productivity gains, by expanding the role of the private sector and, especially, accelerating private investment. Doing this has become more urgent as the Government's fiscal space to invest has shrunk, making it crucial also for the sustainability of growth to identify new opportunities for the private sector to contribute. This Country Economic Memorandum (CEM) focuses on the question of how seizing opportunities in Kenya's services sector can contribute more effectively to long-term economic growth. This report argues that growing the services sector should not be seen as an alternative to industrialization, but rather as an enabler of economy-wide growth, including in manufacturing, and in agriculture too. It focuses on five channels through which services contribute to jobs, economic transformation and inclusion: (i) the need to SHIFT the services sector to higher value-added activities; (ii) how to LINK services better to other economic activities to grow its enabling role; (iii) how to BOOST the productivity of the sector through technology and increasing competition; (iv) how to TRADE more services through removing regulatory barriers to trade and investment; and finally (v) how to SECURE people's economic livelihoods better, especially those working in lower-skilled and economically more vulnerable services subsectors. Growing the contribution of services will require a program of structural reforms and complementary efforts
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  • 80
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (188 pages)
    Series Statement: MENA Development Report
    Parallel Title: Erscheint auch als
    Keywords: Economic Growth ; Exports ; Female Labor Force ; Informality ; Labor Market Outcomes ; Labor Markets ; Trade ; Wages
    Abstract: In the Middle East and North Africa (MENA), trade liberalization measures have coincided with stable economic growth, and GDP per capita growth has surpassed that of other developing regions. However, MENA's labor-market outcomes--such as average wage levels, informality rate, and female labor force participation--continue to underperform. Why has rising trade failed to produce better labor market outcomes in low- and middle-income countries in the region? 'Exports to Improve Labor Markets in the Middle East and North Africa' focuses on the impact of trade policy on trade-flows and their relationship with local labor market outcomes in three low- and middle-income countries--the Arab Republic of Egypt, Morocco, and Tunisia. Given their idiosyncratic labor markets, export diversification, and trade policy history, these three countries other important lessons for economic development in the region. Policy makers and stakeholders can use these findings to design policies to improve the chances that higher trade flows will deliver better labor market outcomes and ensure that the benefits are more equally shared. 'This report, led by Gladys Lopez-Acevedo and Raymond Robertson, pushes forward the frontier of knowledge about the relationship between trade and the labor market in MENA. Although focusing on three countries (the Arab Republic of Egypt, Morocco, and Tunisia), it gives us broader lessons on how to solve the apparent puzzle of greater exposure to trade not being followed by greater labor market outcomes in the region. It points out, among other factors, how market segmentation by gender shapes the effects of trade shocks like higher exports. Policy makers in the region will definitely benefit from the evidence and analysis conveyed by the report on how to turn trade integration into a lever for shared prosperity.' --Otaviano Canuto, Senior Fellow at the Policy Center for the New South, and former Vice President of the World Bank 'This timely report attempts to understand why trade expansion did not produce the desired improvements in labor market outcomes in three non-oil-exporting countries in MENA. The main reason for the weak link between trade expansion and widely shared labor market improvements appears to be the segmented nature of labor markets in the three countries, by gender as well as by formality status. In Morocco and Tunisia, the highly segmented labor markets along gender lines, in combination with the concentration of trade in male-dominated capital-intensive sectors, led to few employment benefits accruing to women. In Egypt, the limited impact of trade on formal employment is attributable to the small size of the nation's export sector and its lack of integration with the rest of the economy. These findings are critical to understanding how barriers to widely shared prosperity can be tackled in the region.' --Ragui Assaad, Professor, Humphrey School of Public Affairs, University of Minnesota
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  • 81
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Country Economic Memorandum
    Keywords: Economic Development ; Economic Forecasting ; Economic Growth ; Human Capital ; Inclusive Growth ; Macroeconomic Instability ; Macroeconomics and Economic Growth ; Productivity ; Volatility
    Abstract: The Country Economic Memorandum (CEM) focuses on long-term growth, outlining the challenges Papua New Guinea (PNG) faces to achieve sufficient economic growth to expand the incomes of its rapidly growing population as well as what is required for PNG to make the transition to a higher, more stable, and more inclusive growth path. PNG's modest headline economic growth has translated into limited per capita income growth in the past four decades. While the economy expanded by 3.2 percent on average during 1980-2021, per capita gross domestic product (GDP) recorded an average annual growth rate of only 0.9 percent. Moreover, the gap between PNG's per capita income level and those of its peer countries has widened. Despite being at a similar level of development in the 1970s and having enormous natural wealth, PNG's income level is diverging away from the East Asia and Pacific (EAP) region. This calls for a renewed policy focus on boosting economic growth, by addressing PNG's excessive macroeconomic volatility, low productivity growth, and high reliance on natural capital as opposed to human and physical capital
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  • 82
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (182 pages)
    Parallel Title: Erscheint auch als
    Keywords: Commodity Prices ; Developing Countries ; Developing Economies ; Economic Growth ; Economic Prospects ; Emerging Markets ; Global Economy ; International Trade ; Trade Protectionism
    Abstract: Global growth is projected to slow significantly in the second half of this year, with weakness continuing in 2024. Inflation pressures persist, and tight monetary policy is expected to weigh substantially on activity. The possibility of more widespread bank turmoil and tighter monetary policy could result in even weaker global growth. Rising borrowing costs in advanced economies could lead to financial dislocations in the more vulnerable emerging market and developing economies (EMDEs). In low-income countries, in particular, fiscal positions are increasingly precarious. Comprehensive policy action is needed at the global and national levels to foster macroeconomic and financial stability. Among many EMDEs, and especially in low-income countries, bolstering fiscal sustainability will require generating higher revenues, making spending more efficient, and improving debt management practices. Continued international cooperation is also necessary to tackle climate change, support populations affected by crises and hunger, and provide debt relief where needed. In the longer term, reversing a projected decline in EMDE potential growth will require reforms to bolster physical and human capital and labor-supply growth
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  • 83
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: IEG Independent Evaluations and Annual Reviews
    Keywords: Development Challenges ; Economic Growth ; Growth and Job Creation ; Inclusion and Equity ; Labor Markets ; Macroeconomics and Economic Growth ; Resilience ; Social Protections and Labor ; Sustainability
    Abstract: The Country Program Evaluation (CPE) will seek to assess how well the Bank Group-supported strategy was aligned with Georgia's main development challenges and how effective the Bank Group's support was in addressing these challenges. The evaluation seeks to identify lessons that support the further adaptation and refinement of Bank Group engagement in support of the country's development priorities
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  • 84
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: COVID-19 ; Economic Growth ; Economic Uncertainty ; Gender and Development ; Gender Monitoring and Evaluation ; Gendered Impact ; Labor and Employment Law ; Labor Market ; Law and Development ; Macroeconomics and Economic Growth ; Women
    Abstract: The Iran Economic Monitor (IEM) provides an update on key economic developments and policies. It examines these economic developments and policies in a longer-term and global context and assesses their implications for the outlook for thecountry. The IEM's coverage ranges from the macroeconomy to financial markets to indicators of human welfare and development. Iran's economy continued to grow moderately for the third consecutive year in 2022/23, albeit at a slower pace than in the previous year. Real gross domestic product (GDP) grew by 3.8 percent in 2022/23, driven by expansions in services and manufacturing. Despite sanctions, the oil sector also expanded, aided by the tighter global oil markets. Favorable weather conditions helped the agriculture sector to marginally grow after the contractionsin previous years. On the expenditure side, private consumption was the main driver of GDP growth. Government consumption contracted to contain the budget deficit following a sharp expansionary policy in 2021/22. Meanwhile, exports and importsboth increased, and strong investment in machinery drove investments up, while construction investment marginally improved. However, the economy continuesto face growth constraints notably related to the economic sanctions, restricted access to external markets and to the latest technology, and much needed foreign investment. The Special Focus of the report highlights the scarring effects of the COVID-19 pandemic, documenting the marked deterioration in labor market outcomes. Despite sizeable government interventions to sustain the economy, in the first year of the pandemic (2021/22), approximately 1 million Jobs were lost, and labor force participation contracted by 3 percentage points. Iranian women were the most affected: two out of three jobs lost between 2019/20 and 2020/21 were previously held by women. The gendered impact of the crisis contributed to widening Iranian's women disadvantage in the labor market. Most importantly, the gains in femalelabor force participation slowly accumulated since 2011 vanished. Consistent with what is observed in other countries, women with young children were the most affected by the crisis. The combined effect of school closures and unequal intra-household allocation of care responsibilities, associated with prevailing gender norms, pushed Iranian women with children out of the labor force. Whether or not these trends will be reversed as the management of the COVID-19 pandemic is normalized and the economy recovers from the crisis remains an important policy question
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  • 85
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Climate Change ; Climate Change Policy and Regulation ; Decntralization ; Economic Growth ; Finance and Financial Sector Development ; Macroeconomics and Economic Growth ; Public and Municipal Finance ; Public Investment ; Public Sector Development
    Abstract: The latest Taking Stock report shows that Vietnam's economic growth slowed from 8% in 2022 to 3.7% in the first half of 2023. It forecasts a moderate growth of 4.7% in 2023, gradually accelerating to 5.5% in 2024 and 6.0% in 2025. However, the economy faces external and domestic headwinds. Vietnam has ample fiscal space and a proactive fiscal policy supporting short-term demand, removing barriers to the implementation of public investment, and addressing infrastructure constraints can help the economy achieve these targets and promote long-term growth. The report's special chapter studies Vietnam's public investment management and how it can contribute to the goal of becoming a high income economy. To harness the power of public investment, the report recommends that Vietnam sustain its level of investment, improve the quality of the proposed project, and address deficiencies in public investment management and inter-governmental fiscal institutions
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  • 86
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2209
    Keywords: Adaptation To Climate Change ; Climate Change ; Demographic Change ; Diversity ; Economic Forecasting ; Economic Growth ; Environment ; Inclusivity ; Macroeconomics and Economic Growth ; Megatrends ; Social Development ; Social Inclusion and Institutions ; Sustainable Growth ; Technological Change
    Abstract: In 2022, Brazil celebrated its 200th anniversary. What will Brazil celebrate at its 220th anniversary, in 2042? Following the recent elections there is a window of opportunity for reforms that will shape Brazil's development over the next decades. "The Brazil of the Future: Towards Productivity, Inclusion, and Sustainability" takes a long-term perspective on Brazil's development, exploring how prudent actions today can generate opportunities for a more prosperous, inclusive, and sustainable society over the next 20 years. The report aims to stimulate public debate about a virtuous cycle for 2042, illustrated by four alternative future scenarios. With the right reforms Brazil can become an economic powerhouse that offers opportunities for all. A more inclusive social contract can facilitate critical reforms
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  • 87
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2163
    Keywords: Adaptation To Climate Change ; Climate Change ; Climate Change Mitigation and Green House Gases ; Economic Growth ; Environment ; Infrastructure ; Macroeconomics and Economic Growth ; Poverty ; Resilience ; Urban Development ; Urban Environment
    Abstract: Cote d'Ivoire is at a crossroads. Despite good progress over the last decade, recent global economic and health shocks have aggravated existing problems including lack of fiscal space, limited access to concessional and cheap financing, and a fragile political neighborhood. But Cote d'Ivoire now has an opportunity to put its growth on a more sustainable path, both realizing the aspirations of a growing population and better adapting to the growing impacts of climate change. Climate change impacts are already affecting Cote d'Ivoire, as temperatures increase, rainfall and other weather events become more extreme and less predictable, and sea levels rise. This World Bank Group Country Climate and Development Report (CCDR) shows negative impacts from climate change will reduce economic performance and over proportionally impact the poor. The report examines specific opportunities in energy, agriculture, and land use as well as urban development and interconnectivity that could render the country's development more sustainable and inclusive, raising standards of living while increasing resilience in face of climate change. Dealing with a changing climate is a national imperative, where choices need to be made for the structural transformation of the economy, transitioning from outdoor low-earning sectors such as agriculture to more value-added industrial and service activities
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  • 88
    Language: English
    Pages: 1 Online-Ressource (37 pages)
    Parallel Title: Erscheint auch als Behrer, A. Patrick Air Pollution Reduces Economic Activity: Evidence from India
    Keywords: Air Pollution ; Air Quality and Clean Air ; Economic Growth ; Environment ; Environmental Economics and Policies ; Environmental Health ; GDP Decline ; Macroeconomics and Economic Growth ; Particulate Pollution ; Poverty Reduction ; Sustainable Development
    Abstract: Exposure to fine particulate pollution (PM2.5) increases mortality and morbidity and reduces human capital formation and worker productivity. As a consequence, high levels of particulate pollution may adversely affect economic activity. Using a novel dataset of changes in the annual gross domestic product of Indian districts, this paper investigates the impact of changes in the level of ambient PM2.5 on district-level gross domestic product. Using daily temperature inversions as an instrument for pollution exposure, this paper finds that higher levels of particulate pollution reduce gross domestic product. The effect is non-trivial-the median annual increase in the level of PM2.5 reduces year-to-year changes in gross domestic product by 0.56 percentage points
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  • 89
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 40347
    Keywords: Agriculture ; Economic Growth ; Economic Value of Forests ; Environment ; Forest Biodiversity ; Forests and Climate Change ; Global Environmental Committment ; Public Sector Development ; Sustainable Development Goals ; Windfire Risk Management
    Abstract: Lebanon's forest landscapes are unique in the Mediterranean region and, over the centuries, have provided multiple socioeconomic, cultural, and environmental benefits. However, societal changes have had a significant impact on these landscapes, putting them at risk of further degradation. Lifestyle changes and restrictions on access to forests and woodlands have contributed to the abandonment of traditional community use, management, and protection of forests. This neglect has left forests vulnerable to arson, vandalism, and natural disasters. This Lebanon Forest Note articulates opportunities for supporting the protection and sustainable management of Lebanon's forest landscapes. It considers the increasing pressure on natural resources due to anthropogenic activities/stresses, as well as their increased vulnerability to climate change and natural disasters, especially forest fires. The note presents a forward-looking business case for Lebanon to protects its forest ecosystem services, while increasing the socioeconomic benefits for Lebanon's sustainable development goals and global environmental commitments
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  • 90
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2119
    Keywords: Debt Indicators ; Developing Countries ; Economic Growth ; Fiscal Indicators ; GDP ; Inflation ; Macroeconomics and Economic Growth ; Poverty Indicators
    Abstract: This edition of the Macro Poverty Outlooks periodical contains country-by-country forecasts and overviews for GDP, fiscal, debt and poverty indicators for the developing countries of the Latin America and the Caribbean region. Macroeconomic indicators such as population, gross domestic product and gross domestic product per capita, and where available, other indicators such as primary school enrollment, life expectancy at birth, total greenhouse gas emissions and inflation, among others, are included for each country. In addition to the World Bank's most recent forecasts, key conditions and challenges, recent developments and outlook are briefly described for each country in the region
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  • 91
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2153
    Keywords: Economic Development ; Economic Forecasting ; Economic Growth ; Jobs ; Private Sector ; Private Sector Development ; Social Protections and Labor ; Starting A Business ; Transition
    Abstract: This report presents a diagnostic study of barriers to private sector participation focusing on young Kuwaitis. The General Secretariat of the Supreme Council for Planning and Development (GSSCPD), Kuwait Public Policy Centre (KPPC) and the World Bank's behavioral science team, the Mind, Behavior, and Development Unit (eMBeD), partnered to conduct a series of data collection activities seeking to identify key structural and behavioral barriers that prevent higher youth participation in the private sector. The right of every Kuwaiti to work is mentioned in Articles 26 and 41 of the Constitution and in various Emiri decrees. The Constitution also commits to state provision of allowances for housing, health care, education, as well as social security, pensions, and disability benefits. Overall, Kuwaiti citizens tend to consider public sector employment to be superior to private sector employment. Reasons for this include greater job security, less burdensome responsibilities, generous pay and benefits, and shorter working hours in the public sector compared to private sector (Towards a National Jobs Strategy in Kuwait, 2021). Given this, there is limited incentive for Kuwaitis to work in the private sector. Indeed, Kuwaiti nationals account for only 4.3 percent of the private sector workforce (Labor Market Information System, 2019), the majority of which is made up of expatriates. The public sector, on the other hand, employs 76 percent of Kuwaiti citizens (Labor Market Information System, 2019). However, the sustainability and efficiency of this system is more than ever under question. High population growth and expected entry of many Kuwaiti nationals into the jobs market by 2022 is putting pressure on public sector employment, and the rising wage bill presents further fiscal challenges (International Monetary Fund, 2019). Public sector entities, which are under pressure to absorb these entrants, are already overstaffed
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  • 92
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2209
    Keywords: Adolescent Well-Beng ; Climate Change Mitigation and Green House Gases ; Drop-Out Rate Reduction ; Economic Growth ; Education ; Energy and Environment ; Financial Sector and Social Assistance ; Gender ; Gender and Education ; Gendered Adolescent Health Trends ; Health, Nutrition and Population ; Secondary Education ; Water Resources Management ; Youth Health ; Youth Well-Being
    Abstract: This report focuses on the trends of adolescent and youth well-being in Tanzania, identifying how and why well-being has or has not changed over time. The report conceptualizes well-being holistically. Well-being can be defined as one's ability and opportunity to learn, make decisions, live a healthy life (physically and mentally), be well-nourished, express agency, have peace of mind, and ultimately be economically empowered. Well-being can be accumulated over time and is a composite of multiple aspects that affect the life one lives and the quality of that life. In many ways, how to live a good life and whether one is living this good life has been a key question asked across countries, and there are multiple frameworks that have been used to measure well-being. For the purposes of this study, six domains of well-being are recognized: (1) education and learning, (2) bodily integrity, (3) health, (4) psychological well-being (peace), (5) voice and agency, and (6) economic empowerment and skills. These domains are interconnected, and, also considered is the idea of peace of mind, without which, there is no wellness
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  • 93
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2113
    Keywords: Assistive Technology ; Economic Growth ; Edtech ; Education ; Hearing Impairment ; Inclusive Education ; Inflation ; Information and Communication Technologies ; Social Protections and Labor ; Visual Impairment
    Abstract: Evidence on the uptake, use, and impact of EdTech at scale on participation and learning among students with disabilities in low- and middle-income countries remains very limited. This report presents findings on access to EdTech for children with difficulties in hearing and vision in middle-income countries (MICs) in the East Asia and Pacific (EAP) region using three approaches: (i) a systematic regional literature review; (ii) interviews with 17 actors from the education technology private sector across the EAP region; and (iii) case studies from four countries: Vietnam, the Philippines, China, and Tonga. The main findings from the literature review are that most EdTech solutions in EAP MICs were applied at very small scale, with a focus on the tech testing stage, and only two of the 13 identified studies from a sample of 1,661 studies measured changes in student learning outcomes. The private sector interviews indicate qualitatively that most actors in this space are unaware of the needs of children with vision and hearing disabilities, and that other challenges such as profitability and general inequalities related to access to devices and high-speed internet receive the most attention. The case studies report no examples of national deployment of any assistive education technology, though there are multiple examples of small-scale digital approaches developed by individual schools or NGOs and shared locally or, in two cases, regionally. In looking at country contexts for the case studies, we found a lack of publicly available data on spending for assistive EdTech in EAP, a lack of data on (a) prevalence of disabilities among the student population, (b) student learning, and (c) student persistence in higher grades
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  • 94
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2153
    Keywords: Climate Change and Agriculture ; Communities and Human Settlements ; Conflict and Development ; Covid and Refugee Welfare Covid ; Economic Growth ; Food Security ; Forceably Displaced Populations (FDP) ; Gender and Development ; Governance ; Host Population Welfare ; Labor Markets ; Refugee Education ; Refugee Labor Market
    Abstract: This report makes several contributions to the literature on the welfare of FDPs and their hosts. On the data front, the harmonized database compiled for this report represents a large and unique source of information on the welfare of both hosts and FDPs during the period of an unprecedented pandemic. The data span 14 countries from different regions, populations of concern (IDPs, refugees, hosts), and accommodation types (in camps, out of camps). Over a fifth of the global population displaced before the start of the pandemic is represented in this database, allowing for direct comparison and aggregation of results across countries and subgroups. The report also brings a policy lens to the analysis. By examining the role of existing labor market and education policies in the hosting country using newly available information from a cross country, up-to-date policy database, the data yield important insights. In addition, the report examinesaid financing trends using disbursement-level data from OECD's Creditor Reporting System (CRS) and a labor-intensive keyword search approach to teaseout disbursements that are intended for displaced populations. The rest of the report is organized as follows. Section 2 describes the data used in this exercise, including the samples, the harmonization process, and the resulting database. Section 3 presents the key results on the welfare impact of the forcibly displaced and their hosts during the pandemic and ensuing crises. Where relevant and possible, theresults are linked to preexisting sectoral polices that were in place in hosting countries before the pandemic. Section 4 discusses the recent trend in official development assistance (ODA) intended for displaced populations. The report concludes with adiscussion of the results and a set of forward-looking policy recommendations, focusing on inclusive social policies and sustainable financing aimedat promoting self-reliance among the displaced, and on lessons learned for data collection and harmonization following this unprecedented endeavor
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  • 95
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2119
    Keywords: Debt Indicators ; Developing Countries ; Economic Growth ; Fiscal Indicators ; GDP ; Inflation ; Macroeconomics and Economic Growth ; Poverty Indicators
    Abstract: This edition of the Macro Poverty Outlooks periodical contains country-by-country forecasts and overviews for GDP, fiscal, debt and poverty indicators for the developing countries of the South Asia region. Macroeconomic indicators such as population, gross domestic product and gross domestic product per capita, and where available, other indicators such as primary school enrollment, life expectancy at birth, total greenhouse gas emissions and inflation, among others, are included for each country. In addition to the World Bank's most recent forecasts, key conditions and challenges, recent developments and outlook are briefly described for each country in the region
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  • 96
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 11872
    Keywords: Economic and Employment Structure ; Economic Growth ; Governance ; Inflation ; Labor Force Participation ; Learning Employable Skills ; Skills Development System ; Social Protections and Labor ; Technical and Vocational Education and Training (TVET) ; Youth Employment
    Abstract: Tanzania's rapidly growing population, particularly its youth, faces challenges in entering the labor market due to limited employable skills. This policy note first reviews the demand-side factors including Tanzania's economic, employment, and labor force characteristics, then it critically analyzes the technical and vocational education and training (TVET) and skills development system. It draws from existing studies and available data to provide an overview of key sector issues and highlights the challenges that require attention as they relate to cultivating employable skills for all Tanzanian youth. This policy note complements the World Bank Policy Note on Strengthening Basic Education System and Improving Learning Outcomes and offers timely input to the government's ongoing effort to strengthen the TVET sector
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  • 97
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 39458
    Keywords: Capacity Building ; Climate Change Impacts ; Data ; Development ; Economic Growth ; Inflation ; Information and Communication Technologies ; Poverty Assessment ; Statistics
    Abstract: The digital revolution has changed the operating environment for statistics and has increased competition in the information space. The operating environment for NSOs has changed significantly in the past decades. Computing power once prohibitively expensive has become affordable even for low-income and lower-middle-income countries. Data that had to be collected manually are now ubiquitous because of digitalization and e-government initiatives, which have also created a constant flow of data from citizens and businesses to government agencies. The rollout of national ID programs, unique business entity identifiers, and national address registers have created the potential for integrating data from disparate databases. However, the vast new technical possibilities have been accompanied by intense competition in the information space. NSOs that were once the main, or in some cases the only, providers of socioeconomic information, are being challenged by new, nimbler, and more data savvy players who are not bound by the rigid definitions and standards of official statistics. The COVID-19 pandemic amplified this trend, with a proliferation of data sites providing near to real-time data on the impact of the pandemic on public health, livelihoods, labor markets, and the economy
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  • 98
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2113
    Keywords: Blended Learning ; Climate Change Mitigation and Green House Gases ; Economic Growth ; Education ; Energy and Environment ; ICT ; Information and Communication Technologies ; K-12
    Abstract: This report proposes a preliminary guiding framework to define and deploy blended learning models at the K-12 level in the Kingdom of Saudi Arabia. Drawing lessons from international examples and good practices, the proposed framework aims to provide key considerations for the strategic and effective use and integration of Information and Communications Technology (ICT) in K-12 schools
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  • 99
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2119
    Keywords: Climate Change Impacts ; Debt Indicators ; Economic Growth ; Education ; Environment ; Fiscal Indicators ; GDP ; GHG ; Inflation ; Life Expectancy At Birth ; Macroeconomics and Economic Growth ; Poverty Assessment ; Poverty Indicators ; Poverty Reduction
    Abstract: This edition of the Macro Poverty Outlooks periodical contains country-by-country forecasts and overviews for GDP, fiscal, debt and poverty indicators for the developing countries of the Europe and Central Asia region. Macroeconomic indicators such as population, gross domestic product and gross domestic product per capita, and where available, other indicators such as primary school enrollment, life expectancy at birth, total greenhouse gas emissions and inflation, among others, are included for each country. In addition to the World Bank's most recent forecasts, key conditions and challenges, recent developments and outlook are briefly described for each country in the region
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  • 100
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2193
    Keywords: Banking Sector ; Economic Growth ; Fiscal and Monetary Policy ; Fiscal Space ; Growth ; Income Inequality ; Inequality ; Macroeconomics and Economic Growth ; Poverty Reduction ; Reforms
    Abstract: Global economic activity registered resilient growth in early 2023 but is losing momentum. Advanced economies growth slowed less-than-anticipated inearly 2023 as tight labor markets drove wages up, preventing a sharp decline in consumption. However, global growth slowed slightly in Q2 2023, with services growth cooling gradually and manufacturing remaining soft. Global inflation has moderated in recent months, largely reflecting favorable base effects from commodity prices falling below their 2022 peaks, along with abating supply chain pressures. Global trade in services strengthened in 1H 2023 thanks to the easing of mobility restrictions but trade in goods slowed due to weakening global industrial production
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