Europe And Central Asia Economic Update Fall 2022

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Europe and Central Asia Economic Update, Fall 2022

World Bank
Europe and Central Asia Economic Update Fall 2022 Book PDF

Author : World Bank
Publisher : World Bank Publications
Page : 178 pages
File Size : 52,9 Mb
Release : 2022-10-04
Category : Business & Economics
ISBN : 9781464819285

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Europe and Central Asia Economic Update, Fall 2022 by World Bank Pdf

Globalization, demographic trends, the green transition, and technological innovations are transforming labor markets in Europe and Central Asia, altering their institutional and contractual arrangements, and creating disparities and vulnerabilities in the labor force. Systemic risks—economic, health, or climate-related—are also playing an increased role in driving poverty and vulnerability. Social protection systems in Europe and Central Asia will need to be reformed to address these challenges and provide adequate protection to workers and families. Countries in the region responded to the COVID-19 pandemic by implementing social protection packages with a substantial contribution of job protection policies. Analysis of the impact of these policies suggests that while job protection policies may have preserved employment in the short run, this may have come at the expense of efficiency and growth. In the long run, income protection policies may be better at addressing the needs of vulnerable groups as labor markets continue evolving. A policy package that combines a guaranteed minimum income with labor market policies that facilitate job transitions can best help countries address long-term challenges.

Europe and Central Asia Economic Update, Spring 2022

World Bank
Europe and Central Asia Economic Update Spring 2022 Book PDF

Author : World Bank
Publisher : World Bank Publications
Page : 118 pages
File Size : 50,5 Mb
Release : 2022-04-10
Category : Business & Economics
ISBN : 9781464818660

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Europe and Central Asia Economic Update, Spring 2022 by World Bank Pdf

In February 2022, the world was shocked by the Russian Federation’s invasion of Ukraine. The war is having a devastating impact on human life and causing economic destruction in both countries, and will lead to significant economic losses in the Europe and Central Asia (ECA) region and the rest of the world. It comes at a particularly vulnerable time for ECA as its economic recovery was expected to be held back by scarring from the pandemic and lingering structural weaknesses. The economic impact of the conflict has reverberated through multiple channels, including commodity and financial markets, trade and migration links, and the damaging impact on confidence. Moreover, the war has added to mounting concerns about a sharp global slowdown, surging inflation and debt, and a spike in poverty levels. Neighboring ECA countries are likely to suffer considerable economic damage because of their strong trade, financial, and migration links with Russia and Ukraine. The war is also causing a destabilizing wave of refugees, financial stresses in vulnerable countries, runaway inflation expectations, and food insecurity. A protracted conflict could further heighten policy uncertainty and fragment critical trade and investment networks.

Europe and Central Asia Economic Update, Fall 2023

Ivailo Izvorski,Sergiy Kasyanenko,Dorothe Singer,Hrisyana Doytchinova
Europe and Central Asia Economic Update Fall 2023 Book PDF

Author : Ivailo Izvorski,Sergiy Kasyanenko,Dorothe Singer,Hrisyana Doytchinova
Publisher : World Bank Publications
Page : 100 pages
File Size : 43,7 Mb
Release : 2023-10-05
Category : Business & Economics
ISBN : 9781464820458

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Europe and Central Asia Economic Update, Fall 2023 by Ivailo Izvorski,Sergiy Kasyanenko,Dorothe Singer,Hrisyana Doytchinova Pdf

Europe and Central Asia (ECA) continues to be negatively impacted by the Russian Federation's invasion of Ukraine, tighter global financial conditions, persistent inflation, and global economic fragmentation. Economic growth in the region is projected to remain weak relative to the long-term trend, delaying the convergence of living standards to those of high-income countries. Climate change is becoming a serious constraint on growth, as extreme weather events are affecting the region with increased frequency and severity. Economic growth for the emerging market and developing economies (EMDEs) of the Europe and Central Asia region has been revised up to 2.4% for 2023. The pickup in growth reflects improved forecast for war-hit Ukraine and for Central Asia as well as consumer resiliency in Türkiye and better-than-expected growth in Russia because of a surge in government spending on the military and social transfers. Nevertheless, growth remains weak relative to the long-term pre-pandemic averages. Downside risks cloud the outlook for the 23 EMDEs in Europe and Central Asia. High inflation may persist amid heightened volatility in global commodity markets and a surge in energy prices. Global financial markets may become more volatile and restrictive due to tightening financing conditions. Global growth for 2020-2024 is the weakest than during any five-year period since 1990 and may weaken further.

Europe and Central Asia Economic Update, Spring 2024

The World Bank
Europe and Central Asia Economic Update Spring 2024 Book PDF

Author : The World Bank
Publisher : World Bank Publications
Page : 126 pages
File Size : 47,8 Mb
Release : 2024-04-11
Category : Business & Economics
ISBN : 9781464821080

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Europe and Central Asia Economic Update, Spring 2024 by The World Bank Pdf

Economic activity in the Europe and Central Asia (ECA) region is expected to remain resilient but slow this year as a weaker global economy, slowdown in China, and lower commodity prices weigh on the region's growth outlook. Regional growth is likely to drop to 2.8 percent in 2024, following substantial strengthening to 3.3 percent last year because of a shift from contraction to expansion in the Russian Federation and war-hit Ukraine, and a more robust recovery in Central Asia. Regional output growth is projected to moderate further to 2.6 percent in 2025. The outlook faces multiple headwinds. A slower-than-expected recovery in key trading partners, restrictive monetary policies, and exacerbation of geopolitical developments could further dampen growth across the region. Weak productivity growth in ECA in the recent decade has resulted in a sharp slowdown in income convergence with advanced economies. Fundamental drivers of productivity growth, including progress in advancing institutional and market reforms, technology adoption, and innovation, are key for enabling private sector-led growth. Boosting business dynamism in ECA will require addressing several challenges, including upgrading the competitive environment, reducing state involvement in the economy, dramatically boosting the quality of education, and strengthening the availability of finance. While meeting these challenges will look different across countries, addressing them is an essential condition to achieve stronger economic growth and overcome the middle-income trap.

Europe and Central Asia Economic Update, Spring 2023

Ivailo Izvorski,Michael Lokshin,Julia Renee Roseman Norfleet,Dorothe Singer,Ivan Torre
Europe and Central Asia Economic Update Spring 2023 Book PDF

Author : Ivailo Izvorski,Michael Lokshin,Julia Renee Roseman Norfleet,Dorothe Singer,Ivan Torre
Publisher : World Bank Publications
Page : 122 pages
File Size : 54,6 Mb
Release : 2023-04-06
Category : Business & Economics
ISBN : 9781464819827

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Europe and Central Asia Economic Update, Spring 2023 by Ivailo Izvorski,Michael Lokshin,Julia Renee Roseman Norfleet,Dorothe Singer,Ivan Torre Pdf

Economic growth slowed sharply last year in Europe and Central Asia, as Russia's invasion of Ukraine, a surge in inflation, and the sharp tightening of monetary policy and financing conditions hit private consumption, investment, and trade. The marked increase in food and energy prices boosted inflation to a pace not seen in 20 years. The burden of inflation was spread unevenly across households. The poorest households faced inflation that was more than 2 percentage points higher than the inflation faced by the richest households, with this difference exceeding 5 percentage points in some countries. Poverty and inequality rates derived from household-specific inflation rates differ from those based on the standard consumer price index (CPI) approach. These differences have important policy implications, because many programs use CPI†“based inflation adjustments, which do not accurately capture changes in the cost of living of targeted populations. Output growth in the region is projected to remain little changed in 2023 but better than projected in January 2023, largely reflecting upgrades to the pace of expansion in Poland, Russia, and Türkiye.

Europe and Central Asia Economic Update, Fall 2020

World Bank
Europe and Central Asia Economic Update Fall 2020 Book PDF

Author : World Bank
Publisher : World Bank Publications
Page : 180 pages
File Size : 49,9 Mb
Release : 2020-10-07
Category : Business & Economics
ISBN : 9781464816437

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Europe and Central Asia Economic Update, Fall 2020 by World Bank Pdf

The COVID-19 pandemic has hit human capital directly in Europe and Central Asia, adversely affecting both education and health. School closures may lead to learning losses equivalent to a third to a full year of schooling, and they are likely to exacerbate inequalities, by disproportionately affecting students from disadvantaged backgrounds. The disease has already killed thousands of people, and some patients who survive will suffer long-term damage to their health. Recovery from the pandemic will thus require strong investment in education and health. This update examines human capital outcomes in the region and the ways in which the pandemic is likely to affect them. A focus on the quality of tertiary education and health risk factors of obesity, smoking, and heavy drinking highlights the challenges that are particularly important for the region. Post-COVID 19 policy initiatives to improve education and health will need to recognize the challenges posed by increased reliance on remote learning and the importance of being prepared for future pandemics, given the vulnerability of the region’s aging societies and the large number of people with underlying health risks.

Europe and Central Asia Economic Update, Fall 2021

World Bank
Europe and Central Asia Economic Update Fall 2021 Book PDF

Author : World Bank
Publisher : World Bank Publications
Page : 150 pages
File Size : 40,5 Mb
Release : 2021-10-05
Category : Business & Economics
ISBN : 9781464818028

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Europe and Central Asia Economic Update, Fall 2021 by World Bank Pdf

Although global economic activity is recovering and output in Europe and Central Asia (ECA) is expected to grow in 2021, containing COVID-19 remains a challenge in the region. Enterprise survey data for the emerging and developing countries in the region show that COVID-19 had a profound and heterogeneous impact on firms. Smaller, younger, and female-run businesses were hit harder and had greater difficulty recovering. But the crisis also played a cleansing role and economic activity in ECA appears to have been reallocated toward more productive firms during the crisis, particularly in countries with more competitive markets. Firms with high pre-crisis labor productivity experienced significantly smaller drops in sales and employment than firms with low pre-crisis labor productivity and were also more likely to adapt to the crisis by increasing online activity and remote work. Many governments in ECA implemented broad policy support schemes to address the initial economic fallout from the crisis. Overall, this government support was more likely to go to less productive and larger firms, regardless of the level of their pre-crisis innovation. As economies enter the economic recovery phase, it will be important for policy makers in all countries to phase out broad policy support measures as soon as appropriate and focus on fostering a competitive business environment, which is key to a strong recovery, resilience to future crises, and sustainable, long-term economic growth.

Weathering Economic Storms in Central Asia Initial Impacts of the War in Ukraine

OECD
Weathering Economic Storms in Central Asia Initial Impacts of the War in Ukraine Book PDF

Author : OECD
Publisher : OECD Publishing
Page : 59 pages
File Size : 48,9 Mb
Release : 2022-12-05
Category : Electronic
ISBN : 9789264389038

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Weathering Economic Storms in Central Asia Initial Impacts of the War in Ukraine by OECD Pdf

Russia’s war against Ukraine and the international sanctions introduced against the former have had an unexpectedly mild impact on Central Asia, despite the region’s deep economic dependence on its northern neighbour. Notwithstanding high inflation, the five Central Asian states – Kazakhstan, Kyrgyzstan, Mongolia, Tajikistan and Uzbekistan – have so far shown surprising resilience to the economic headwinds.

Balancing Act

Caterina Ruggeri Laderchi,Anne Olivier,Chris Trimble
Balancing Act Book PDF

Author : Caterina Ruggeri Laderchi,Anne Olivier,Chris Trimble
Publisher : World Bank Publications
Page : 191 pages
File Size : 44,6 Mb
Release : 2013-01-15
Category : Business & Economics
ISBN : 9780821397909

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Balancing Act by Caterina Ruggeri Laderchi,Anne Olivier,Chris Trimble Pdf

Policy makers in ECA are facing a balancing act between the competing claims of fiscal and environmental concerns on the one hand, and affordability and political economy concerns on the other. However, the needed reforms can be built on the improvements in social assistance and energy efficiency initiated in the last decade.

Europe and Central Asia Economic Update, Spring 2021

World Bank
Europe and Central Asia Economic Update Spring 2021 Book PDF

Author : World Bank
Publisher : World Bank Publications
Page : 172 pages
File Size : 43,8 Mb
Release : 2021
Category : Business & Economics
ISBN : 9781464816987

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Europe and Central Asia Economic Update, Spring 2021 by World Bank Pdf

Governments play a critical role in the economies of Europe and Central Asia, where government expenditures are close to 40 percent of gross domestic product and the public sector accounts for nearly 27 percent of total employment, which is almost twice the global average. The public sector often attracts some of the best educated workers in the region. And support for a larger public sector is increasing due to aging populations and their growing health care and long-term care needs, rising inequality and greater support for redistribution, and increasing expenditures as governments address the challenges posed by the COVID-19 crisis. The significant role that government plays underscores the importance of the quality of governance in determining productivity and growth and effectively responding to the region’s economic and social challenges. Digital technology and the data revolution offer the potential to increase efficiency, transparency, responsiveness, and citizen trust, directly impacting the quality of government. Across the world, the quality of government is increasingly informed by the extent to which governments harness digital tools and GovTech to optimize management, service delivery, and overall state capacity. Technology and data are also key for fostering collaboration between governments and civil society to improve public sector efficiency and service delivery. The COVID-19 pandemic has highlighted the costs associated with delaying digitalization and GovTech implementation and the opportunities that lie in public sector modernization.

Assessing the Impact of Russia’s War against Ukraine on Eastern Partner Countries

OECD
Assessing the Impact of Russia s War against Ukraine on Eastern Partner Countries Book PDF

Author : OECD
Publisher : OECD Publishing
Page : 82 pages
File Size : 47,9 Mb
Release : 2023-01-21
Category : Electronic
ISBN : 9789264525313

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Assessing the Impact of Russia’s War against Ukraine on Eastern Partner Countries by OECD Pdf

Russia’s war against Ukraine is causing a humanitarian, social and economic crisis for the Ukrainian people. The consequences of this full-scale military invasion are disrupting the global supply of commodities, sharply increasing food and energy prices, and threating the recovery from the COVID-19 pandemic.

Poverty and Shared Prosperity 2022

World Bank
Poverty and Shared Prosperity 2022 Book PDF

Author : World Bank
Publisher : World Bank Publications
Page : 399 pages
File Size : 41,8 Mb
Release : 2022-12-14
Category : Business & Economics
ISBN : 9781464818943

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Poverty and Shared Prosperity 2022 by World Bank Pdf

The COVID-19 pandemic triggered a pronounced setback in the fight against global poverty—likely the largest setback since World War II. Many low- and middle-income countries have yet to see a full recovery. High indebtedness in many countries has hindered a swift recovery, while rising food and energy prices—fueled in part by conflict and climate shocks—have made a return to progress on poverty reduction more challenging than ever. These setbacks have altered the trajectory of poverty reduction in large and lasting ways. The world is significantly off course on the goal of ending extreme poverty by 2030.The year 2020 also marked a historic turning point as decades of global income convergence gaveway to global divergence as the world’s poorest people were hardest hit. The richest people have recovered from the pandemic at a faster pace, further exacerbating differences. These diverging fortunes between the global rich and poor ushered in the first rise in global inequality in decades. Poverty and Shared Prosperity 2022: Correcting Course provides the first comprehensive analysis of the pandemic’s toll on poverty in developing countries.It identifies how governments can optimize fiscal policy to help correct course. Fiscal policies offset the impact of COVID-19 on poverty in many high-income countries, but those policies offset barely onequarter of the pandemic’s impact in low-income countries and lower-middle-income countries. Improving support to households as crises continue will require reorienting protective spending away from generally regressive and inefficient subsidies and toward a direct transfer support system—a first key priority. Reorienting fiscal spending toward supporting growth is a second key priority identified by the report. Some of the highest-value public spending often pays out decades later. Amid crises, it is difficult to protect such investments, but it is essential to do so. Finally, it is not enough just to spend wisely—when additional revenue does need to be mobilized, it must be done in a way that minimizes reductions in poor people’s incomes. The report highlights how exploring the underused forms of progressive taxation and increasing the efficiency of tax collection can help in this regard. Poverty and Shared Prosperity is a biennial series that reports on global trends in poverty and shared prosperity. Each report also explores a central challenge to poverty reduction and boosting shared prosperity, assessing what works well and what does not in different settings. By bringing together the latest evidence, this corporate flagship report provides a foundation for informed advocacy around ending extreme poverty and improving the lives of the poorest in every country in the world. For more information, please visit worldbank.org/poverty-and-shared-prosperity.

Global food policy report 2023: Rethinking food crisis responses

International Food Policy Research Institute (IFPRI)
Global food policy report 2023 Rethinking food crisis responses Book PDF

Author : International Food Policy Research Institute (IFPRI)
Publisher : Intl Food Policy Res Inst
Page : 140 pages
File Size : 49,9 Mb
Release : 2023-04-13
Category : Political Science
ISBN : 8210379456XXX

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Global food policy report 2023: Rethinking food crisis responses by International Food Policy Research Institute (IFPRI) Pdf

This decade has been marked by multiple, often overlapping, crises. The COVID-19 pandemic, natural disasters, and the ongoing war in Ukraine have all threatened the fabric of our global food systems. But opportunities can be found amid crises, and the world’s food systems have demonstrated surprising resilience. With new evidence on what works, now is the time to rethink how we address food crises. Better prediction, preparation, and resilience building can make future crises less common and less devastating, and improved responses can contribute to greater food security, better nutrition, and sustainable livelihoods.

From Disintegration to Reintegration

Harry G. Broadman
From Disintegration to Reintegration Book PDF

Author : Harry G. Broadman
Publisher : World Bank Publications
Page : 440 pages
File Size : 42,6 Mb
Release : 2006-02-09
Category : Business & Economics
ISBN : 0821361988

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From Disintegration to Reintegration by Harry G. Broadman Pdf

As the world marketplace becomes ever more globalized, much is at stake for the prosperity of hundreds of millions of people in Europe and Central Asia as the region's transition process continues through its second decade. Understanding the underlying dynamics shaping the contours and most salient impacts of international integration that have emerged and likely to emerge prospectively in the region is thus a crucial challenge for the medium term economic development agenda, not only for policymakers in the countries on themselves, but also for their trading partners, the international financial institutions, the donor community and the future of the world trading system as a whole. This book addresses this challenge.

The Global Findex Database 2017

Asli Demirguc-Kunt,Leora Klapper,Dorothe Singer,Saniya Ansar
The Global Findex Database 2017 Book PDF

Author : Asli Demirguc-Kunt,Leora Klapper,Dorothe Singer,Saniya Ansar
Publisher : World Bank Publications
Page : 148 pages
File Size : 50,8 Mb
Release : 2018-04-19
Category : Business & Economics
ISBN : 9781464812682

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The Global Findex Database 2017 by Asli Demirguc-Kunt,Leora Klapper,Dorothe Singer,Saniya Ansar Pdf

In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.