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Author: Mr. Tigran Poghosyan
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 34
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Book Description
This paper analyses how financial inclusion in the Caucasus and Central Asia (CCA) compares to peers in Central and Eastern Europe (CEE). Using individual-level survey data, it shows that the probability of being financially included, as proxied by account ownership in financial institutions, is substantially lower across gender, income groups, and education levels in all CCA countries relative to CEE comparators. Key determinants of this financial inclusion gap are lower financial and human development indices, weak rule of law, and physical access to bank branches or ATMs. This suggests that targeted policies aimed at boosting financial and human development, strengthening the rule of law, and supporting fintech solutions can broaden financial inclusion in the CCA.
Author: Mr. Tigran Poghosyan
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 34
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Book Description
This paper analyses how financial inclusion in the Caucasus and Central Asia (CCA) compares to peers in Central and Eastern Europe (CEE). Using individual-level survey data, it shows that the probability of being financially included, as proxied by account ownership in financial institutions, is substantially lower across gender, income groups, and education levels in all CCA countries relative to CEE comparators. Key determinants of this financial inclusion gap are lower financial and human development indices, weak rule of law, and physical access to bank branches or ATMs. This suggests that targeted policies aimed at boosting financial and human development, strengthening the rule of law, and supporting fintech solutions can broaden financial inclusion in the CCA.
Author: Mr. Tigran Poghosyan
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 54
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Book Description
Amidst a global backdrop of persistent post-COVID inflation and spillovers from Russia’s war in Ukraine, the countries of the Caucasus and Central Asia (CCA) region have faced strong price pressures in recent years. Inflation is estimated to have peaked in early 2023, but still exceeds central bank targets. In particular, core inflation remains stubbornly high reflecting a combination of second-round effects, surges in global energy and food prices, and domestic demand pressures. More broadly, uncertainty and downside risks also weigh on the economic outlook, including due to regional tensions, financial turmoil related to international monetary policy normalization, and a growth slowdown in key trading partners. In this context, CCA countries’ ability to contain inflationary pressures and anchor inflation expectations hinges on the credibility and effectiveness of their monetary policy frameworks. Since gaining independence in the 1990s, countries in the CCA region have made considerable progress in modernizing their monetary policy frameworks. CCA central banks have strengthened their legal frameworks and established broad de-jure independence. Armenia, Georgia, Kazakhstan, the Kyrgyz Republic, and Uzbekistan are transitioning to inflation targeting regimes, while the central banks of Azerbaijan, Tajikistan, and Turkmenistan rely on the exchange rate as an operational target. However, the post-COVID surge in inflation has highlighted the limitations of current frameworks and triggered a fresh policy debate on the need to strengthen monetary policy effectiveness in the CCA. This paper reviews the CCA region’s monetary policy landscape, highlights challenges in monetary policy design and implementation, and identifies areas that warrant strengthening. It draws on original surveys of country authorities, IMF country teams, and the work by Unsal and others (2022). It uses novel empirical work to analyze monetary policy transmission, the link between foreign exchange interventions and exchange rate dynamics, the drivers of financial de-dollarization, and the effects of central bank communication in the CCA.
Author: Ms.Elena Loukoianova
Publisher: International Monetary Fund
ISBN: 1484371011
Category : Business & Economics
Languages : en
Pages : 139
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Book Description
Asia has made significant progress in financial inclusion, but both its across-country and intra-country disparities are among the highest in the world. The gaps between the rich and the poor, rural and urban populations, and men and women remain deep. Income is the main determinant of the level of financial inclusion; but other factors, such as geography, financial sector structure, and policies, also play important roles. While some countries in the Asia-Pacific region are leaders in fintech, on average the region lags behind others in several important areas such as online (internet) purchases, electronic payments, mobile money, and mobile government transfers. This Departmental Paper aims to take stock of the development and current state of financial inclusion and shed light on policies to advance financial inclusion in the region. The research focuses on the impact of financial inclusion on economic growth, poverty reduction, and inequality, linkages between financial inclusion and macroeconomic policies, as well as structural policies that are important for improving financial inclusion. Given the increasing importance of financial technologies (fintech), the paper also provides a snapshot of the fintech landscape in the Asia-Pacific.
Author: Jean-Louis Racine
Publisher: World Bank Publications
ISBN: 0821385097
Category : Business & Economics
Languages : en
Pages : 360
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Book Description
Standards are everywhere, yet go mostly unnoticed. They define how products, processes, and people interact, assessing these entities’ features and performance and signaling their level of quality and reliability. They can convey important benefits to trade, productivity, and technological progress and play an important role in the health and safety of individual consumers and the environment. Firms’ ability to produce competitive products depends on the availability of adequate quality-support services. A “national quality infrastructure” denotes the chain of public and private services (standardization, metrology, inspection, testing, certification, and accreditation) needed to ascertain that products and services introduced in the marketplace meet defined requirements, whether demanded by authorities or by consumers. In much of Eastern Europe and Central Asia, national quality infrastructure systems are underdeveloped and not harmonized with those of their trading partners. This imbalance increases trade costs, hinders local firms’ competitiveness, and weakens overall export performance. The objective of Harnessing Quality for Global Competitiveness in Eastern Europe and Central Asia is to highlight the need to reform and modernize the institutions in the region toward better quality and standards. The book ties in with much of the work done in the World Bank on the business environment, trade facilitation, economic diversification, and enterprise innovation. The countries in the region can improve this situation, revising mandatory standards, streamlining technical regulations, and harmonizing their national quality infrastructure with those of regional and international trade partners. Most governments will need to invest strategically in their national quality infrastructure, including pooling services with neighboring countries and stimulating local awareness and demand for quality. Specifically for the countries of the former Soviet Union, the restructuring process will need to improve governance, thus eliminating conflicts of interest and providing technically credible services to the economy.
Author: World Bank Group
Publisher: World Bank Publications
ISBN: 1464813868
Category : Business & Economics
Languages : en
Pages : 494
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Book Description
The outlook for the global economy has darkened. Global financing conditions have tightened, industrial production has moderated, trade tensions have intensified, and some large emerging market and developing economies have experienced significant financial market stress. Faced with these headwinds, the recovery in emerging market and developing economies has lost momentum. Downside risks have become more acute and include the possibility of disorderly financial market movements and an escalation of trade disputes. Debt vulnerabilities in emerging market and developing economies, particularly low-income countries, have increased. More frequent severe weather events would raise the possibility of large swings in international food prices, which could deepen poverty. In this difficult environment, it is of paramount importance for emerging market and developing economies to rebuild policy buffers while laying a stronger foundation for future growth by boosting human capital, promoting trade integration, and addressing the challenges associated with informality,
Author: World Bank Group
Publisher: World Bank Publications
ISBN: 146481399X
Category : Business & Economics
Languages : en
Pages : 326
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Book Description
Global growth appears to be stabilizing after a period of marked weakness, but it remains fragile. A modest recovery in emerging market and developing economies continues to be constrained by subdued investment, which is dampening prospects and impeding progress toward achieving critical development goals. Downside risks to the outlook remain elevated, and policymakers continue to face major challenges to boost resilience and foster long-term growth. this issue includes essays on the benefits and risks of government borrowing, recent investment weakness in emerging market and developing economies, the pass-through of currency depreciations to inflation, and the evolution of growth in low-income countries.
Author: Barry Buzan
Publisher: Cambridge University Press
ISBN: 9780521891110
Category : Political Science
Languages : en
Pages : 598
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Book Description
This book develops the idea that since decolonisation, regional patterns of security have become more prominent in international politics. The authors combine an operational theory of regional security with an empirical application across the whole of the international system. Individual chapters cover Africa, the Balkans, CIS Europe, East Asia, EU Europe, the Middle East, North America, South America, and South Asia. The main focus is on the post-Cold War period, but the history of each regional security complex is traced back to its beginnings. By relating the regional dynamics of security to current debates about the global power structure, the authors unfold a distinctive interpretation of post-Cold War international security, avoiding both the extreme oversimplifications of the unipolar view, and the extreme deterritorialisations of many globalist visions of a new world disorder. Their framework brings out the radical diversity of security dynamics in different parts of the world.
Author: World Bank
Publisher: World Bank Publications
ISBN: 0821379887
Category : Political Science
Languages : en
Pages : 444
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Book Description
In the crowded field of climate change reports, 'WDR 2010' uniquely: emphasizes development; takes an integrated look at adaptation and mitigation; highlights opportunities in the changing competitive landscape; and proposes policy solutions grounded in analytic work and in the context of the political economy of reform.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author:
Publisher: World Bank Publications
ISBN: 9780821342909
Category : Political Science
Languages : en
Pages : 124
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Book Description
Clearing landmines, rehabilitating and integrating of excombatants, rebuilding the infrastructure, coordinating aid sources—these are just some of the issues confronting the Bank in post-conflict reconstruction. The explosion of civil conflicts in the post-Cold War world has tested the World Bank's ability to address unprecedented devastation of human and social capital.This study covers post-conflict reconstruction in nine countries, assessing relevant, recent Bank experience. It also presents case-studies for ongoing and future operations, which analyze: 1. the Bank's main strengths or comparative advantages; 2. its partnership with other donors, international organizations, and NGOs; 3. its role in reconstruction strategy and damage and needs assessment; 4. its role in rebuilding the economy and institutions of governance; 5. its management of resources and processes; 6. implications for monitoring and evaluation.
