Author:
Publisher:
ISBN:
Category : Electronic book
Languages : en
Pages :

Get Book Here

Book Description

Author: Ivailo Izvorski
Publisher: World Bank Publications
ISBN: 1464819823
Category : Business & Economics
Languages : en
Pages : 122

Get Book Here

Book Description
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.

Author: Weltbank
Publisher:
ISBN: 9781464807534
Category :
Languages : en
Pages :

Get Book Here

Book Description
Against the backdrop of a weakening global economy and volatility in international financial markets, countries of the Europe and Central Asia region (ECA) are transitioning to a new normal that is characterized by low commodity prices, slow trend growth of global trade and less abundant availability of international liquidity. The transition is challenging because the region has not still fully recovered from the after-effects of the global financial crisis and current volatile conditions in international financial markets create headwinds. The eastern part of ECA faces the difficult adjustment to low commodity prices. That adjustment comes with sharp real deprecations, job losses in construction and domestic services, falling asset prices (especially real estate and equity prices), increased fragility in partly dollarized financial sectors, and declining household incomes. However, that adjustment comes also with new opportunities in the tradable sectors. To seize these opportunities policy makers have to embrace the new normal, using flexible exchange rates, absorbing negative side-effects, and facilitating investments in new sectors. In the western part of the region the recovery remains fragile. In Southern European countries, access to finance will not be as easy as it had been before 2008, but there are now real opportunities to leave the crisis behind and to steadily create new jobs. Policy makers can seize these opportunities if they move beyond firefighting and create conditions for reinvigorating competitiveness.

Author: World Bank
Publisher: World Bank Publications
ISBN: 1464809127
Category : Business & Economics
Languages : en
Pages : 138

Get Book Here

Book Description
The economies of Europe and Central Asia (ECA) are facing complex challenges. In the eastern part of the region the task of governments is to orchestrate a coordinated crisis response. The collapse of oil revenues and the associated decline in remittances triggered a chain reaction of shocks. Adjustment to these shocks requires a new monetary policy regime, resolution of serious fragilities in banking sectors, fiscal reforms that put government finances on a sustainable path, while guaranteeing fair burden sharing, and facilitation of job creation in sectors that compete internationally. In the western part of the region policy coordination within the European Union is being tested by the refugee crisis and a possible Brexit. Meanwhile the Chinese economy has slowed down and is in the process of fundamental transformation. Also these developments have major impacts on the ECA region. The report analyses all these challenges and points at the opportunities to become more competitive in global markets.

Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :

Get Book Here

Book Description
The economies of Europe and Central Asia (ECA) are facing complex challenges. In the eastern part of the region the task of governments is to orchestrate a coordinated crisis response. The collapse of oil revenues and the associated decline in remittances triggered a chain reaction of shocks. Adjustment to these shocks requires a new monetary policy regime, resolution of serious fragilities in banking sectors, fiscal reforms that put government finances on a sustainable path, while guaranteeing fair burden sharing, and facilitation of job creation in sectors that compete internationally. In the western part of the region policy coordination within the European Union is being tested by the refugee crisis and a possible Brexit. Meanwhile the Chinese economy has slowed down and is in the process of fundamental transformation. Also these developments have major impacts on the ECA region. The report analyses all these challenges and points at the opportunities to become more competitive in global markets.

Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1513520733
Category : Business & Economics
Languages : en
Pages : 228

Get Book Here

Book Description
This issue discusses a number of factors affecting global growth, as well as growth prospects across the world’s main countries and regions. It assesses the ongoing recovery from the global financial crisis in advanced and emerging market economies and evaluates risks, both upside and downside, including those associated with commodity prices, currency fluctuations, and financial market volatility. A special feature examines in detail causes and implications of the recent commodity price downturn; analytical chapters look at the effects of commodity windfalls on potential output and of exchange rate movements on trade.

Author:
Publisher: World Bank Publications
ISBN: 1464807337
Category : East Asia
Languages : en
Pages : 164

Get Book Here

Book Description
The East Asia and Pacific Economic Update provides regular, biannual analyses of development trends and economic policy issues across the East Asia and Pacific region.

Author: Asli Demirguc-Kunt
Publisher: World Bank Publications
ISBN: 1464812683
Category : Business & Economics
Languages : en
Pages : 228

Get Book Here

Book Description
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.

Author: World Bank
Publisher: World Bank Publications
ISBN: 1464812098
Category : Business & Economics
Languages : en
Pages : 122

Get Book Here

Book Description
The economic outlook for the developing EAP region remains positive, and will benefit from an improved external environment as well as strong domestic demand. The growth of regional GDP excluding China is forecast to accelerate in 2018, while China's GDP growth is expected to decline in 2018 and 2019, although remain higher than most countries in the region. Poverty is projected to continue its long-term decline. Major downside risks include financial sector vulnerabilities, large fiscal imbalances, and the possible escalation of geopolitical tensions. The improved outlook for global growth provides a window of opportunity for developing EAP to continue to reduce key vulnerabilities and strengthen the foundations for sustained and inclusive growth in the medium term. The region could also benefit from further developing tourism sectors and deepening of regional integration, to offset the emerging global protectionism. And policies to ensure inclusive growth should involve ensuring economic mobility and security for all, going beyond the primary focus on reducing poverty.

Author: World Bank
Publisher: World Bank Publications
ISBN: 1464819289
Category : Business & Economics
Languages : en
Pages : 178

Get Book Here

Book Description
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.