Revisiting Covid Scarring In Emerging Markets

Author : Chris Jackson,Jason Lu
Publisher : International Monetary Fund
Page : 26 pages
File Size : 41,9 Mb
Release : 2023-08-04
Category : Business & Economics
ISBN : 9798400252136

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Revisiting Covid Scarring in Emerging Markets by Chris Jackson,Jason Lu Pdf

The Covid-19 pandemic is expected to result in large and persistent losses in economic output, known as scarring. These losses were expected to be more severe in Emerging Markets than in Advanced Economies. This paper examines the impact of Covid on output in Emerging Markets so far and its implications for projections of economic scarring. While Covid has had a material impact on activity, the recovery has been stronger than initially expected. We find that these positive data surprises have over time been treated increasingly as transitory rather than a signal for the state of scarring. Second, we show that the composition of output losses has been qualitatively different from past last shocks. History suggests that the main driver of scarring is weak productivity. Covid losses, however, have so far been more skewed to employment with a smaller than usual impact on productivity. We argue that these findings suggest that scarring, while substantial, may be ultimately less severe than initially feared, at least over the medium term. We provide alternative sets of medium-term projections to indicate potential magnitudes.

Author : World Bank Group
Publisher : World Bank Publications
Page : 402 pages
File Size : 45,6 Mb
Release : 2020-07-07
Category : Business & Economics
ISBN : 9781464815805

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Global Economic Prospects, June 2020 by World Bank Group Pdf

The COVID-19 pandemic has, with alarming speed, dealt a heavy blow to an already-weak global economy, which is expected to slide into its deepest recession since the second world war, despite unprecedented policy support. The global recession would be deeper if countries take longer to bring the pandemic under control, if financial stress triggers defaults, or if there are protracted effects on households and firms. Economic disruptions are likely to be more severe and protracted in emerging market and developing economies with larger domestic outbreaks and weaker medical care systems; greater exposure to international spillovers through trade, tourism, and commodity and financial markets; weaker macroeconomic frameworks; and more pervasive informality and poverty. Beyond the current steep economic contraction, the pandemic is likely to leave lasting scars on the global economy by undermining consumer and investor confidence, human capital, and global value chains. Being mostly a reflection of the recent plunge in global energy demand, low oil prices are unlikely to provide much of a boost to global growth in the near term. While policymakers' immediate priorities are to address the health crisis and moderate the short-term economic losses, the likely long-term consequences of the pandemic highlight the need to forcefully undertake comprehensive reform programs to improve the fundamental drivers of economic growth, once the crisis abates. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by these economies, while the June edition contains shorter analytical pieces.

Author : Luc Eyraud,Mr.Xavier Debrun,Andrew Hodge,Victor Duarte Lledo,Ms.Catherine A Pattillo
Publisher : International Monetary Fund
Page : 132 pages
File Size : 41,9 Mb
Release : 2018-04-13
Category : Business & Economics
ISBN : 9781484350935

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Second-Generation Fiscal Rules by Luc Eyraud,Mr.Xavier Debrun,Andrew Hodge,Victor Duarte Lledo,Ms.Catherine A Pattillo Pdf

Fiscal rule frameworks have evolved significantly in response to the global financial crisis. Many countries have reformed their fiscal rules or introduced new ones with a view to enhancing the credibility of fiscal policy and providing a medium-term anchor. Enforcement and monitoring mechanisms have also been upgraded. However, these innovations have made the systems of rules more complicated to operate, while compliance has not improved. The SDN takes stock of past experiences, reviews recent reforms, and presents new research on the effectiveness of rules. It also proposes guiding principles for future reforms to strike a better balance between simplicity, flexibility, and enforceability. Read the blog

Author : Ms. Dora Benedek,Mr. Edward R Gemayel,Mr. Abdelhak S Senhadji,Alexander F. Tieman
Publisher : International Monetary Fund
Page : 35 pages
File Size : 55,5 Mb
Release : 2021-04-27
Category : Business & Economics
ISBN : 9781498314909

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A Post-Pandemic Assessment of the Sustainable Development Goals by Ms. Dora Benedek,Mr. Edward R Gemayel,Mr. Abdelhak S Senhadji,Alexander F. Tieman Pdf

The COVID-19 pandemic hit countries’ development agendas hard. The ensuing recession has pushed millions into extreme poverty and has shrunk government resources available for spending on achieving the United Nations Sustainable Development Goals (SDGs). This Staff Discussion Note assesses the current state of play on funding SDGs in five key development areas: education, health, roads, electricity, and water and sanitation, using a newly developed dynamic macroeconomic framework.

Author : Bambang Susantono,Yasuyuki Sawada,Cyn-Young Park
Publisher : Asian Development Bank
Page : 324 pages
File Size : 54,5 Mb
Release : 2020-09-01
Category : Medical
ISBN : 9789292623562

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Navigating COVID-19 in Asia and the Pacific by Bambang Susantono,Yasuyuki Sawada,Cyn-Young Park Pdf

Coronavirus disease (COVID-19) has unleashed unparalleled challenges. At the same time, it offers a window to rethink Asia’s most fundamental development policies and strategies to address inequality, socioeconomic vulnerability, and environmental challenges. This publication gathers blogs and short policy pieces contributed by ADB staff and experts in an attempt to tackle immediate challenges and prepare for what may lie beyond the horizon. It covers a broad range of development challenges and highlights the crucial role of rapid adoption of digital technologies, adequate supply of quality infrastructure, disaster risk management, and strengthening regional cooperation for a resilient and sustainable future by shaping post-pandemic conditions.

Author : Pierre Guérin,Felix Suntheim
Publisher : International Monetary Fund
Page : 25 pages
File Size : 47,8 Mb
Release : 2021-03-19
Category : Business & Economics
ISBN : 9781513574493

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Firms’ Environmental Performance and the COVID-19 Crisis by Pierre Guérin,Felix Suntheim Pdf

The shutdown in economic activity due to the coronavirus disease (COVID-19) crisis has resulted in a short-term decline in global carbon emissions, but the long-term impact of the pandemic on the transition to a low-carbon economy is uncertain. Looking at previous episodes of financial and economic stress to draw implications for the current crisis, we find that tighter financial constraints and adverse economic conditions are generally detrimental to firms’ environmental performance, reducing green investments. The COVID-19 crisis could thus potentially slow down the transition to a low-carbon economy. In light of the urgent need to reduce global greenhouse gas emissions, these findings underline the importance of climate policies and green recovery packages to boost green investment and support the energy transition. Policies that support the sustainable finance sector, such as improved transparency and standardization, could further help mobilize green investments.

Author : Hilary Cooper,Simon Szreter
Publisher : Cambridge University Press
Page : 449 pages
File Size : 43,7 Mb
Release : 2021-09-23
Category : Business & Economics
ISBN : 9781009005203

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After the Virus by Hilary Cooper,Simon Szreter Pdf

Reveals the deep roots of the UK's lack of resilience when COVID-19 hit and sets out an ambitious manifesto for change.

Author : Margaret Atwood
Publisher : McClelland & Stewart
Page : 248 pages
File Size : 42,9 Mb
Release : 2014-09-09
Category : Fiction
ISBN : 9780771006821

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Stone Mattress by Margaret Atwood Pdf

In Margaret Atwood's stunning new collection of stories, her first since her #1 nationally bestselling 2006 collection, Moral Disorder, she returns to the here and now in this brilliant, new collection of stories. In these nine dazzlingly inventive and rewarding stories, Margaret Atwood's signature dark humour, playfulness, and deadly seriousness are in abundance. In "Freeze-Dried Bridegroom," a man who bids on a storage locker has a surprise. In "Lusus Naturae," a woman with a genetic abnormality is mistaken for a vampire. In "I Dream of Zenia with the Bright Red Teeth," we remeet Tony, Charis, and Roz from The Robber Bride, but, years later, as their nemesis is seen in an unexpected form. In "Torching the Dusties," an elderly lady with Charles Bonnet's syndrome comes to terms with the little people she keeps seeing, while a newly formed populist group gathers to burn down her retirement residence. In "Stone Mattress," a long-ago crime is revenged in the Arctic. This is classic Margaret Atwood, and she is at the very top of her form.

Author : OECD,Economic Commission for Latin America and the Caribbean,CAF Development Bank of Latin America,European Commission
Publisher : OECD Publishing
Page : 274 pages
File Size : 46,8 Mb
Release : 2021-12-02
Category : Electronic
ISBN : 9789264682313

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Latin American Economic Outlook 2021 Working Together for a Better Recovery by OECD,Economic Commission for Latin America and the Caribbean,CAF Development Bank of Latin America,European Commission Pdf

The Latin American Economic Outlook 2021: Working Together for a Better Recovery aims to analyse and provide policy recommendations for a strong, inclusive and environmentally sustainable recovery in the region. The report explores policy actions to improve social protection mechanisms and increase social inclusion, foster regional integration and strengthen industrial strategies, and rethink the social contract to restore trust and empower citizens at all stages of the policy‐making process.

Author : Anonim
Publisher : Unknown
Page : 128 pages
File Size : 55,8 Mb
Release : 2020
Category : Electronic
ISBN : 6218173011

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BSP Unbound by Anonim Pdf

Author : European Investment Bank
Publisher : European Investment Bank
Page : 591 pages
File Size : 47,6 Mb
Release : 2021-02-04
Category : Business & Economics
ISBN : 9789286148125

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EIB Investment Report 2020/2021 by European Investment Bank Pdf

The Europe Union's massive efforts to rebuild after the coronavirus pandemic present a unique opportunity to transform its economy, making it more green and digital – and ultimately more competitive. The Investment Report 2020-2021 looks at the toll the pandemic took on European firms' investment and future plans, as well as their efforts to meet the demands of climate change and the digital revolution. The report's analysis is based on a unique set of databases and data from a survey of 12 500 firms conducted in the summer of 2020, in the midst of the COVID-19 crisis. While providing a snapshot of the heavy toll the pandemic took on some forms of investment, the report also offers hope by pointing out the economic areas in which Europe remains strong, such as technologies that combine green and digital innovation.

Author : Carmody, Pádraig,McCann, Gerard
Publisher : Policy Press
Page : 218 pages
File Size : 45,8 Mb
Release : 2020-10-21
Category : Social Science
ISBN : 9781529215892

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COVID-19 in the Global South by Carmody, Pádraig,McCann, Gerard Pdf

Available Open Access under CC-BY-NC-ND licence. Bringing together a range of experts across various sectors, this important volume explores some of the key issues that have arisen in the Global South with the COVID-19 pandemic. Situating the worldwide health crisis within broader processes of globalisation, the book investigates implications for development and gender, as well as the effects on migration, climate change and economic inequality. Contributors consider how widespread and long-lasting responses to the pandemic should be, while paying particular attention to the accentuated risks faced by vulnerable populations. Providing answers that will be essential to development practitioners and policy makers, the book offers vital insights into how the impact of COVID-19 can be mitigated in some of the most challenging socio-economic contexts worldwide.

Author : OECD
Publisher : OECD Publishing
Page : 327 pages
File Size : 40,8 Mb
Release : 2020-06-10
Category : Electronic
ISBN : 9789264700611

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OECD Economic Outlook, Volume 2020 Issue 1 by OECD Pdf

The OECD Economic Outlook is the OECD's twice-yearly analysis of the major economic trends and prospects for the next two years. This issue includes a general assessment of the macroeconomic situation, a series of notes on the macroeconomic and structural policy issues related to the COVID-19 outbreak and a chapter summarising developments and providing projections for each individual country.

Author : OECD
Publisher : OECD Publishing
Page : 218 pages
File Size : 44,9 Mb
Release : 2021-05-31
Category : Electronic
ISBN : 9789264816916

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OECD Economic Outlook, Volume 2021 Issue 1 by OECD Pdf

The OECD Economic Outlook, Volume 2021 Issue 1, highlights the improved prospects for the global economy due to vaccinations and stronger policy support, but also points to uneven progress across countries and key risks and challenges in maintaining and strengthening the recovery.

Author : Masahiro Kawai,Mario B. Lamberte,Peter J. Morgan
Publisher : Springer
Page : 0 pages
File Size : 44,7 Mb
Release : 2016-08-23
Category : Business & Economics
ISBN : 4431562427

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Reform of the International Monetary System by Masahiro Kawai,Mario B. Lamberte,Peter J. Morgan Pdf

By providing a comprehensive overview of policy proposals for the international monetary system from an Asian perspective, this book aims to identify what innovations are needed to reform the international monetary and financial system to promote financial stability and sustainable economic growth for emerging economies. The book is organized into four parts. Part 1 discusses major theoretical and empirical issues related to reform of the international monetary system. Part 2 includes two chapters that present the recent developments and challenges for managing capital flows. Part 3 presents different perspectives on regional currency cooperation in Asia and Europe by assessing the evidence supporting increased currency coordination in Asia and by review issues of policy cooperation in the Euro area after the global financial crisis and their implications for Asia. Part 4 discusses emerging issues for regional/global cooperation and financial safety nets. The main inference of the book is that, in light of the drawbacks of the existing international monetary system exposed in the global financial crisis, along with other countries, Asian emerging economies should work cooperatively to reform and strengthen international monetary and financial policy. To do so, regional and global monetary cooperation is needed and financial safety nets should be strengthened to alleviate the impact of possible global financial crises. This will be one of the first books written about the global financial crisis and the on going the European sovereign debt crisis to comprehensively address the issues related to currency cooperation, based on the Euro area experience, with the specific implications for Asia.