The Austerity Decade 2010-20

2020 ◽  
Vol 20 (1) ◽  
pp. 142-157
Author(s):  
Isabel Ortiz ◽  
Matthew Cummins
Keyword(s):  
Sustainable Development ◽  
Developing Countries ◽  
International Monetary Fund ◽  
Government Spending ◽  
Global Economy ◽  
High Income ◽  
Budget Cuts ◽  
Fiscal Adjustment ◽  
Fiscal Space ◽  
Negative Impacts

In the wake of the financial, food and fuel crises, a fourth ‘F’ shockwave hit the global economy in 2010: fiscal adjustment. It would mark the onset of a prolonged period of budget cuts that is now projected to continue at least through 2020 in high-income and developing countries alike. This article: (i) examines International Monetary Fund (IMF) government spending projections for 187 countries from 2005 to 2020, indicating a decade of austerity from 2010 onwards; (ii) reviews 616 IMF country reports in 183 countries to identify the main adjustment measures; and (iii) discusses the negative impacts of austerity on jobs and welfare, pointing to alternative policies to identify fiscal space for equitable and sustainable development. Note that this analysis was done prior to COVID-19, and the estimates for 2019 and 2020 reflect pre-pandemic projections.

scholarly journals Simulation Modeling of the Sustainable Supply Chain

2020 ◽  
Vol 12 (15) ◽  
pp. 6007 ◽  
Author(s):  
Patrycja Hoffa-Dabrowska ◽  
Katarzyna Grzybowska
Keyword(s):  
Sustainable Development ◽  
Supply Chain ◽  
Global Economy ◽  
Simulation Models ◽  
Exhaust Emissions ◽  
Simulation Tool ◽  
Sustainable Supply Chain ◽  
Use Of Resources ◽  
Negative Impacts ◽  
The Impact

The development of the global economy affects the environment in which we are living, often in negative ways, including pollutions, exhaust emissions, depletion of natural resources, and other concerns. Therefore, it is so important to use resources in a reasonable, sustainable manner and to be aware of the impact of our activities on the environment, which in the next stage translates into trying to limit negative impacts to the environment. Aspects of sustainable supply chain (SSC) have become more and more popular in the last years. Entrepreneurs pay more attention to the aspect of sustainable development in their activities, especially to exhaust emissions. The rational use of resources is also a very important topic. Not only economic aspects but also environmental and social topics are taken into account in company politics, which is characteristic of sustainable development. The main purpose of this article is to show the benefits of SSC. For this purpose, the simulation models showing the supply chain and the sustainable supply chain will be built. The benefits of SSC in economic and environmental aspects will be presented using a computer simulation tool. Using a simulation tool fits in with sustainability; thanks to modeling supply chains in their virtuality and analysis, many resources can be saved in reality (for example, thanks to the consolidation of freight).

Sustainability Reporting Trend in Indian Companies as per GRI Framework: A Comparative Study

2015 ◽  
Vol 4 (1) ◽  
pp. 62-73 ◽  
Author(s):  
Anurodh Godha ◽  
Prerna Jain
Keyword(s):  
Sustainable Development ◽  
Global Economy ◽  
Sustainability Reporting ◽  
Third Party ◽  
Global Reporting Initiative ◽  
Environmental Care ◽  
Reporting Framework ◽  
Negative Impacts ◽  
Social Environmental

Sustainable development implies development that meets the need of the present generation without compromising the ability of future generations to meet their own needs. As a result of the global upsurge of interest in sustainable development, the sustainability reporting system has emerged. Sustainability reporting enables the creation of long-term value for organizations. It is forward-looking and includes quantitative and qualitative reporting measures. It is a key platform for communicating the organization’s economic, social, environmental and governance performance, reflecting positive and negative impacts. It can be undertaken by all types, sizes and sectors of organizations. Through the Global Reporting Initiative (GRI) Sustainability Reporting Framework, the GRI works to increase the transparency and exchange of sustainability-related information. The present study conceptually reviews sustainability reporting and its benefits for the entities. Here, an attempt has been made to examine the development in the Indian regulatory environment for sustainability reporting along with finding out trend, application level and status of the sustainability reporting practice of Indian entities as per the GRI reporting framework. The findings reveal that the development of the corporate governance standard is maturing in India. Amendments in laws and changes in the regulatory mechanism are creating pressure on entities to respond to and communicate for their sustainability concerns. With globalization, Indian companies are increasingly realizing that they have much to lose by not following sustainability reporting. In fact, many respected companies already get their sustainability reports audited by a third party to ensure its credibility. Sustainability reporting is therefore a vital step of managing change towards a sustainable global economy—one that combines long-term profitability with environmental care and social justice.

Knowledge transfer for sustainable development: East-West collaboration?

2014 ◽  
Vol 11 (4) ◽  
pp. 242-255 ◽  
Author(s):  
Amer Al-Roubaie ◽  
Shafiq Alvi
Keyword(s):  
Sustainable Development ◽  
Developing Countries ◽  
Knowledge Transfer ◽  
Global Economy ◽  
Local Development ◽  
Economic Transformation ◽  
The West ◽  
Content Type ◽  
East And West ◽  
Access To Knowledge

Purpose – The purpose of this paper is to discuss the potential impact that collaboration between East and West could have on sustainable development. Greater emphasis in this paper will be placed on the benefit that developing countries gain from building collaborative relations with the West. Obtaining access to knowledge and technology will enable developing countries to speed up the process of socio-economic transformation and sustain development. Developing countries can leapfrog by making use of the existing knowledge in the West. Design/methodology/approach – This paper provides descriptive assessment of the relationship between East and West to foster growth and sustain development. The paper uses newly developed ideas to build capacity for knowledge transfer to create linkages and accelerate the process of economic growth. The approach to knowledge-based development requires the creation of an enabling environment driven by skills, innovation, institutions and ICT. Findings – The paper suggests that knowledge transfer enables developing countries to sustain development. Access to global/western knowledge allows developing countries to diversify their economic structure and increase productivity. Technological learning and knowledge absorption permit these countries to leapfrog by surpassing several stages in their development. Practical implications – Information in this paper provides insight into the merits of the new economy and the potential benefits that developing countries can obtain from participating in the global economy. Indigenous knowledge and local innovation are important for local development, which can be enhanced through technology transfer and knowledge dissemination. Originality/value – Unlike traditional economic theories in which capital and labor provide the main inputs in production, this paper discusses a new approach to development where knowledge, skills and innovation represent the main forces behind growth. The paper explores new ideas to generate linkage and sustain development.

scholarly journals The Vulnerability of Developing Countries to the Economic Crisis Due to the Pandemic: What Can Indonesia Do?

2021 ◽  
Author(s):  
Farida Rahmawati ◽  
Fidelis Dwi Putra Santoso
Keyword(s):  
Developing Countries ◽  
Informal Sector ◽  
Economic Performance ◽  
Global Economy ◽  
Budget Deficit ◽  
Developed Countries ◽  
Government Policies ◽  
Government Performance ◽  
Demographic Differences ◽  
Fiscal Space

The spread of COVID-19 has had a significant impact on the global economy, including in Indonesia. The pandemic affected all economic performance, including growth, price stability, exchange rates, unemployment, poverty and so on. Although the crisis was felt by all countries, developing countries felt a greater impact than developed countries. Through a qualitative analysis, this paper aims to explain why this can happen, what are government policies for pandemic mitigation and what are their impact. The results show that the crisis caused by the pandemic in Indonesia was caused by four things, namely the dominance of the informal sector, limited fiscal space, poor governance and demographic differences between developed and developing countries. So, a strategy is needed to overcome these obstacles. Strategies that can be carried out are through evaluating government performance, increasing the budget deficit and moderating lockdowns. These three strategies are expected to be able to help Indonesia through the crisis caused by the COVID-19 pandemic. Keywords: COVID-19 Pandemic, Demographic Differences, Informal Sector, Limited Fiscal Space, Poor Governance

scholarly journals APPLICATION OF GLOBAL MODELS OF ECO-DEVELOPMENT IN UKRAINE

2020 ◽  
Vol 1 (2) ◽  
pp. 68-74
Author(s):  
Ostap Khalavka
Keyword(s):  
Sustainable Development ◽  
Developing Countries ◽  
Global Economy ◽  
Quantitative Research ◽  
Environmental Issues ◽  
Developed Countries ◽  
Practical Experience ◽  
Business Climate ◽  
Environmental Situation ◽  
The Government

The purpose of the paper is to analyze the successful experience of both developing and developed countries related to the resolution of environmental issues and implementation of the models of eco-development and provide recommendation for Ukraine regarding the ways to apply this experience in the country’s economy effectively. Methodology. The paper is based on the combination of qualitative and quantitative research and applies the dialectic perception method to analyze economic events and processes at the time of their development, interconnection, and interdependence. Results of the research demonstrate that successful sustainable transformation of the economy may take place not only in highly developed countries but also in the developing ones. Ukraine may consider the successful experience of the implementation of sustainable initiatives of such countries as Luxembourg, Denmark, Switzerland, Seychelles, and Morocco. The success of these countries is addressing environmental issues is related to their focus on establishing cooperation between the public and private sectors while promoting sustainable behavior among citizens. The government of Ukraine needs to prioritize sustainable transformation of the economy by improving the country’s business climate for innovative sustainable startups and by promoting the development and application by businesses of energy-efficient technologies. The main potential challenges that may be faced by Ukraine in its way towards sustainable development are corruption and ineffective use of financial resources, however, these issues may be addressed via the cooperation with international organizations. Sustainable transformation of the Ukrainian economy will not only improve the environmental situation in the country but will also create visible benefits for economic players and people. Practical implications. The environmental situation in Ukraine has been deteriorating for decades and the previously applied as well as existing measures implemented to address environmental issues in Ukraine do not provide desired outcomes. The country needs to apply new innovative instruments and measures to make it economy sustainable and, to this end, Ukraine should create the economic conditions in which sustainable development would be beneficial for all engaged parties. The practical experience of both developed and developing countries has the potential to be implemented in Ukraine in coming years in case the country’s authorities take appropriate and timely measures. Value/originality. The provided recommendations for Ukraine consider the modern trends and conditions existing in the global economy, have regard to the successful experience of sustainable transformation of the economy, in particular, of developed and developing countries, and may be used by the country’s government to develop effective sustainable development policy in the future.

scholarly journals Debt-Financed Public Investment in Developing Countries: Does the Efficiency of Public Investment Matter?

2020 ◽  
Author(s):  
Amarachukwu Anthony Anyanwu
Keyword(s):  
Sustainable Development ◽  
Developing Countries ◽  
Government Spending ◽  
Public Investment ◽  
Policy Implications ◽  
Asia Pacific ◽  
Investment Efficiency ◽  
Pacific Region ◽  
Asia Pacific Region ◽  
2030 Agenda

This study examines whether government spending efficiency is associated with differential effects of public investment on debt-to-GDP ratio for a panel data consisting of 16 developing countries in Asia-Pacific region over the period 2007-2017. Public investment is central to implementing the UN 2030 Agenda for Sustainable Development — but high debt-to-GDP ratio poses a key risk. The empirical results indicate that public investment efficiency moderates debt-to-GDP ratio whereas public investment in the midst of public sector corruption accentuates debt-to-GDP ratio. The results have important policy implications.

The end of Alchemy of Finance and Sovereign Money (on the books by M. King “The end of Alchemy: Money, Banking and the Future of the Global Economy” and by J. Huber “Sovereign Money. Beyond Reserve Banking”)

2017 ◽  
pp. 131-141 ◽  
Author(s):  
V. Yefimov
Keyword(s):  
Economic Policy ◽  
Central Bank ◽  
Institutional Theory ◽  
Money Supply ◽  
Government Spending ◽  
Global Economy ◽  
Private Banks ◽  
Money Creation ◽  
Ministry Of Finance ◽  
Reserve Banking

The review discusses the institutional theory of money considered in the books by King and Huber, and the conclusions that follow from it for economic policy. In accordance with this theory, at present the most of the money supply is created not by the Central Bank but by private banks. When a bank issues a loan, new money is created, and when the loan is repaid this money is destructed. The concept of sovereign money involves the monopoly of money creation of the central bank. In this case the most of newly created money is handed over to the ministry of finance to implement government spending.

Rising Inequality in the New Global Economy

2006 ◽  
pp. 84-89 ◽  
Author(s):  
N. Birdsall
Keyword(s):  
Developing Countries ◽  
Global Economy ◽  
Slow Growth ◽  
Global Markets ◽  
Modern World ◽  
Government Programs ◽  
Poor Countries

Reasons of high inequality in the modern world are considered in the article. In developing countries it interacts with underdeveloped markets and inefficient government programs to slow growth, which in turn slows progress in reducing poverty. Increasing reach of global markets makes rising inequality more likely and deepens the gap between rich and poor countries. Because global markets work better for the already rich, we should increase the representation of poor countries in global fora.

PENDIDIKAN UNTUK PEMBANGUNAN BERKELANJUTAN

2018 ◽  
Vol 10 (3) ◽  
pp. 304
Author(s):  
Familia Novita Simanjuntak
Keyword(s):  
Sustainable Development ◽  
Global Economy ◽  
Autonomous Motivation ◽  
Human Society ◽  
Environmental Attitude ◽  
Development Education ◽  
Environmental Behaviors ◽  
Sustainable Environment ◽  
Complex Dimensions ◽  
Earth Environment

ABSTRACTSustainable development urges to merge the three complex dimensions: global economy, global society and physically earth environment. Sachs (2015) states that sustainable development is the expert effort to comprehend the world and the method to solve the crowded earth issues by the global population growth that nine times increase than the first industry era. Education is one of fatal element for sustainable development phase especially for the human (society) development. Human development becomes the main core of invesment for economy development because it is prepared for the youngst as the next generation to develop economic improvement individually for their family and also for their community (include for the State’s development interest). Marshall, Hine and East (2017) studied about the education which develop the autonomous motivation to support individu execute the pro-environmental behaviors (PEBs). This autonomous motivation will establish the environmental attitude and personality in decision making and action of sustainable environment protection and preservation.Keywords: sustainable development, education, pro-environmental behaviors ABSTRAKPembangunan berkelanjutan berupaya untuk mengkaitkan tiga sistem yang rumit yaitu sistem ekonomi dunia, sistem sosial dunia dan lingkungan fisik bumi. Sachs (2015) menyatakan bahwa pembangunan berkelanjutan menjadi cara para pakar untuk memahami dunia dan sebuah metode untuk menyelesaikan permasalahan dunia yang berawal dari sesaknya bumi akibat pertumbuhan penduduk dunia yang sudah mencapai sembilan kali lebih banyak dari populasi manusia yang hidup pada jaman dimulainya revolusi industri. Pendidikan adalah salah satu komponen yang penting dalam proses pembangunan berkelanjutan terutama pembangunan yang terkait manusia (sosial). Pembangunan manusia menjadi bagian vital dari investasi yang dibutuhkan dalam pembangunan ekonomi karena merupakan jalur investasi yang disiapkan untuk anak-anak sebagai generasi penerus yang akan melanjutkan perbaikan ekonomi baik secara individu bagi keluarganya maupun secara berkelompok bagi komunitasnya (termasuk kepentingan pembangunan di Negaranya). Penelitian Marshall, Hine and East (2017) menyatakan bahwa pendidikan dapat membentuk dorongan dari dalam setiap individu untuk melakukan perilaku pro lingkungan hidup (pro-environmental behaviours). Dorongan dari dalam individu ini secara otonomi membentuk watak dan karakter yang ramah lingkungan untuk membuat keputusan dan bertindak yang melindungi dan menjaga keberlanjutan lingkungan hidup.Kata kunci: pembangunan berkelanjutan, pendidikan, pro-environmental beharviors

Esensi Dan Urgensi Pengeluaran Pemerintah Untuk Pembangunan Daerah

2019 ◽  
Vol 4 (1) ◽  
pp. 1-12
Author(s):  
Luciana L. Nahumuri
Keyword(s):  
Sustainable Development ◽  
Regional Development ◽  
Government Spending ◽  
Government Expenditure ◽  
The State ◽  
Future Generations ◽  
State Revenue ◽  
State Expenditure

The essence and urgency of government expenditure for regional development is very crucial in realizing sustainable development, meaning that government spending must meet current needs without compromising the fulfillment of the needs of future generations. The higher the state revenue, the higher the state expenditure for regional development. Thus, an increase in understanding of government expenditure for regional development in a sustainable manner must be carried out with the principle of prudence in this country.

Sign in / Sign up

Export Citation Format

Share Document