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Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498310001
Category : Business & Economics
Languages : en
Pages : 43
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Book Description
"Trade integration can play a much larger role in boosting shared prosperity. The current focus on trade tensions threatens to obscure the great untapped benefits possible from further trade reform. The opportunities provided by information technology and other fundamental changes in the global economy are yet to be reflected in modern areas of trade policy, such as services and electronic commerce. Greater openness in these areas would promote competition, lift productivity, and raise living standards. In many other areas, such as the rural economy, smaller enterprises, and women’s economic empowerment, trade-related reforms are important particularly to foster more inclusive growth. Harnessing flexible approaches to WTO negotiations may be the key to reinvigorating global trade reform. Despite the benefits at stake—and with important exceptions such as the WTO Trade Facilitation Agreement—trade reform has lagged since the early 2000s. For much of this period, governments focused their efforts in the WTO on a single negotiating approach. Now, as groups of WTO members pursue joint initiatives in several areas, attention is turning to how other negotiating approaches—including some used effectively in the past—can be leveraged so that trade once again plays its full role in driving increased global economic prosperity. Building greater, more durable openness—this paper’s focus—should be part of a broader effort to strengthen and reinvest in the global trading system. The system of global trade rules that has nurtured unprecedented economic growth across multiple generations faces tensions. Though only recently brought to the fore, those tensions are rooted in issues that have been left unresolved for too long. Governments need to promptly address outstanding questions involving, for example, the WTO dispute system and the reach of subsidy disciplines. Cooperative action to secure greater openness—an imperative in its own right—could also help to resolve these"
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498310001
Category : Business & Economics
Languages : en
Pages : 43
Get Book Here
Book Description
"Trade integration can play a much larger role in boosting shared prosperity. The current focus on trade tensions threatens to obscure the great untapped benefits possible from further trade reform. The opportunities provided by information technology and other fundamental changes in the global economy are yet to be reflected in modern areas of trade policy, such as services and electronic commerce. Greater openness in these areas would promote competition, lift productivity, and raise living standards. In many other areas, such as the rural economy, smaller enterprises, and women’s economic empowerment, trade-related reforms are important particularly to foster more inclusive growth. Harnessing flexible approaches to WTO negotiations may be the key to reinvigorating global trade reform. Despite the benefits at stake—and with important exceptions such as the WTO Trade Facilitation Agreement—trade reform has lagged since the early 2000s. For much of this period, governments focused their efforts in the WTO on a single negotiating approach. Now, as groups of WTO members pursue joint initiatives in several areas, attention is turning to how other negotiating approaches—including some used effectively in the past—can be leveraged so that trade once again plays its full role in driving increased global economic prosperity. Building greater, more durable openness—this paper’s focus—should be part of a broader effort to strengthen and reinvest in the global trading system. The system of global trade rules that has nurtured unprecedented economic growth across multiple generations faces tensions. Though only recently brought to the fore, those tensions are rooted in issues that have been left unresolved for too long. Governments need to promptly address outstanding questions involving, for example, the WTO dispute system and the reach of subsidy disciplines. Cooperative action to secure greater openness—an imperative in its own right—could also help to resolve these"
Author: World Bank
Publisher: World Bank Publications
ISBN: 1464816662
Category : Business & Economics
Languages : en
Pages : 339
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Book Description
The world economy is experiencing a very strong but uneven recovery, with many emerging market and developing economies facing obstacles to vaccination. The global outlook remains uncertain, with major risks around the path of the pandemic and the possibility of financial stress amid large debt loads. Policy makers face a difficult balancing act as they seek to nurture the recovery while safeguarding price stability and fiscal sustainability. A comprehensive set of policies will be required to promote a strong recovery that mitigates inequality and enhances environmental sustainability, ultimately putting economies on a path of green, resilient, and inclusive development. Prominent among the necessary policies are efforts to lower trade costs so that trade can once again become a robust engine of growth. This year marks the 30th anniversary of the Global Economic Prospects. The 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). Each edition includes analytical pieces on topical policy challenges faced by these economies.
Author: Debra P. Steger
Publisher: Wilfrid Laurier Univ. Press
ISBN: 1554581745
Category : Political Science
Languages : en
Pages : 498
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Book Description
Two high-level commissions—the Sutherland report in 2004, and the Warwick Commission report in 2007—addressed the future of the World Trade Organization and made proposals for incremental reform. This book goes further; it explains why institutional reform of the WTO is needed at this critical juncture in world history and provides innovative, practical proposals for modernizing the WTO to enable it to respond to the challenges of the twenty-first century. Contributors focus on five critical areas: transparency, decision- and rule-making procedures, internal management structures, participation by non-governmental organizations and civil society, and relationships with regional trade agreements. Co-published with the International Development Research Centre and the Centre for International Governance Innovation
Author: Mr.Holger Floerkemeier
Publisher: International Monetary Fund
ISBN: 1513569503
Category : Business & Economics
Languages : en
Pages : 35
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Book Description
We discuss regional disparities in economic performance and living standards. We first set out some key facts, and provide a conceptual framework to help analyze whether such disparities are efficient, or instead reflect market and/or policy failures. We examine whether policy attempts to reduce regional disparities necessarily involve a trade-off between equity and efficiency. We then investigate whether policymakers should focus on boosting the economic performance of lagging regions—or, conversely, accept the presence of regional disparities, and instead assist households in lagging regions through transfer payments, investments in education, health, and other basic services, and by facilitating out-migration.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1513511726
Category : Business & Economics
Languages : en
Pages : 122
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Book Description
The audited consolidated financial statements of the International Monetary Fund as of April 30, 2019 and 2018
Author: Valerie Cerra
Publisher: Oxford University Press
ISBN: 0192846930
Category : Business & Economics
Languages : en
Pages : 901
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Book Description
This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. Rising inequality and widespread poverty, social unrest and polarization, gender and ethnic disparities, declining social mobility, economic fragility, unbalanced growth due to technology and globalization, and existential danger from climate change are urgent global concerns of our day. These issues are intertwined. They therefore require a holistic framework to examine their interplay and bring the various strands together. Leading academic economists have partnered with experts from several international institutions to explain the sources and scale of these challenges. They gather a wide array of empirical evidence and country experiences to lay out practical policy solutions and to devise a comprehensive and unified plan of action for combatting these economic and social disparities. This authoritative book is accessible to policy makers, students, and the general public interested in how to craft a brighter future by building a sustainable, green, and inclusive society in the years ahead.
Author: World Trade Organization
Publisher: World Trade Organization
ISBN: 9789287041258
Category : Political Science
Languages : en
Pages : 0
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Book Description
This report is about a huge contribution to our deepening understanding of what the global economy really means and how it is changing. The report helpfully distinguishes elements of an economy that are tradable and the large set that are non-tradable. Clearly the tradables set is expanding with the support of enabling technology. The report argues that connectivity in the networks that define the evolving architecture of GVCs is important. This Global Value Chain Development Report is the result of intensive and detailed work in assembling and analyzing data on the structure of economies and on how they are linked. It creates a much clearer picture of evolving patterns of independence. It also presents a much clearer picture of comparative advantage. --Publisher description.
Author: World Bank
Publisher: World Bank Publications
ISBN: 0821382268
Category : Business & Economics
Languages : en
Pages : 187
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Book Description
“The crisis has deeply impacted virtually every economy in the world, and although growth has returned, much progress in the fight against poverty has been lost. More difficult international conditions in the years to come will mean that developing countries will have to place even more emphasis on improving domestic economic conditions to achieve the kind of growth that can durably eradicate poverty.� —Justin Yifu Lin, Chief Economist and Senior Vice President The World Bank 'Global Economic Prospects 2010: Crisis, Finance, and Growth' explores both the short- and medium-term impacts of the financial crisis on developing countries. Although global growth has resumed, the recovery is fragile, and unless business and consumer demand strengthen, the world economy could slow down again. Even if, as appears likely, a double-dip recession is avoided, the recovery is expected to be slow. High unemployment and widespread restructuring will continue to characterize the global economy for the next several years. Already, the crisis has provoked large-scale human suffering. Some 64 million more people around the world are expected to be living on less than a $1.25 per day by the end of 2010, and between 30,000 and 50,000 more infants may have died of malnutrition in 2009 in Sub-Saharan Africa, than would have been the case if the crisis had not occurred. Over the medium term, economic growth is expected to recover. But increased risk aversion, a necessary and desirable tightening of financial regulations in high-income countries, and measures to reduce the exposure of developing economies to external shocks are likely to make finance scarcer and more costly than it was during the boom period. As a result, just as the ample liquidity of the early 2000s prompted an investment boom and an acceleration in developing-country potential output, higher costs will likely yield a slowing in developing-country potential growth rates of between 0.2 and 0.7 percentage points, and as much as an 8 percent decline in potential output over the medium term. In the longer term, however, developing countries can more than offset the implications of more expensive international finance by reducing the cost of capital channeled through their domestic financial markets. For more information, please visit www.worldbank.org/gep2010. To access Prospects for the Global Economy, an online companion publication, please visit www.worldbank.org/globaloutlook.
Author: Dani Rodrik
Publisher: OUP Oxford
ISBN: 0191634255
Category : Political Science
Languages : en
Pages : 442
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Book Description
For a century, economists have driven forward the cause of globalization in financial institutions, labour markets, and trade. Yet there have been consistent warning signs that a global economy and free trade might not always be advantageous. Where are the pressure points? What could be done about them? Dani Rodrik examines the back-story from its seventeenth-century origins through the milestones of the gold standard, the Bretton Woods Agreement, and the Washington Consensus, to the present day. Although economic globalization has enabled unprecedented levels of prosperity in advanced countries and has been a boon to hundreds of millions of poor workers in China and elsewhere in Asia, it is a concept that rests on shaky pillars, he contends. Its long-term sustainability is not a given. The heart of Rodrik’s argument is a fundamental 'trilemma': that we cannot simultaneously pursue democracy, national self-determination, and economic globalization. Give too much power to governments, and you have protectionism. Give markets too much freedom, and you have an unstable world economy with little social and political support from those it is supposed to help. Rodrik argues for smart globalization, not maximum globalization.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498344658
Category : Business & Economics
Languages : en
Pages : 257
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Book Description
This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
