Syrian-Lebanese food shortages will drive instability

2021 ◽  
Keyword(s):  
World Bank ◽  
Humanitarian Aid ◽  
Syrian Refugees ◽  
Content Type ◽  
The Past ◽  
The World Bank ◽  
The World ◽  
Food Shortages ◽  
Almost All ◽  
The Eu

Significance While Lebanon is experiencing what the World Bank dubbed “the worst economic crisis in more than a century”, civil war-torn Syria has been hit by one of the most severe droughts of the past decade. An estimated 77% of Lebanese households do not have enough food, and almost all Syrians suffer from reduced availability. Impacts Neighbouring countries such as Jordan and Turkey will be the first affected by any new migration wave. The EU may also see more migration from the Levant as a result of food insecurity. The return of Syrian refugees from Lebanon could increase pressure on the humanitarian aid sector in Syria. Israel may more tightly secure its Lebanese and Syrian borders for fear of spillover from rising tensions.

East and West will divide over new Bosnian viceroy

2021 ◽  
Keyword(s):  
World Bank ◽  
Common Interest ◽  
Content Type ◽  
The World Bank ◽  
The World ◽  
East And West ◽  
Dayton Agreement ◽  
Negative Behaviour ◽  
Roll Out ◽  
The Eu

Significance The summit’s avowed aim was to renew the EU-US ‘Transatlantic partnership’, including committing to upholding the international rules-based order built around the UN. It called for cooperation with Russia in areas of common interest despite its repeated “negative behaviour”. Such strains include Russia’s opposition to appointing a new high representative for Bosnia. Impacts Vucic’s call for regular reports from the high representative recognises his legitimacy while asserting Serbian interest in BiH. Croatian President Zoran Milanovic’s support for the 1995 Dayton agreement weakens outside backing for Bosnian Croat separatism. The World Bank has left its growth forecast for BiH unchanged from January, provided vaccine roll-out accelerates.

Adverse EU demographics will hinder potential growth

2019 ◽  
Keyword(s):  
Middle East ◽  
World Bank ◽  
Public Debt ◽  
World Population ◽  
Potential Growth ◽  
Content Type ◽  
The World Bank ◽  
The World ◽  
Migration Crisis ◽  
The Eu

Subject Europe's demographic changes. Significance The world population should approach 10 billion in 2050, according to the World Bank. It reached 7.5 billion in 2017. The trend veils large differences across continents, with the populations of Africa, the Middle East and Asia expected to rise sharply, although China’s population will start declining soon. The EU population is expected to drop from 512 million in 2017 to 500 million in 2050. Impacts The EU is not prepared for a future migration crisis. Low potential growth due to adverse demographics will cause public debt-to-GDP ratios to remain sticky in most EU countries. The EU labour market may be close to peak employment, as growth is too low to create more jobs.

The EU Fiscal Risk Matrix – from government debt to climate liabilities

Studia BAS ◽  
2021 ◽  
Vol 3 (67) ◽  
pp. 45-69
Author(s):  
Iustina Alina Boitan ◽  
Kamilla Marchewka-Bartkowiak
Keyword(s):  
World Bank ◽  
Major Conclusion ◽  
Risk Matrix ◽  
Eu Member States ◽  
Debt Burden ◽  
The World Bank ◽  
Fiscal Risk ◽  
The World ◽  
Main Components ◽  
The Eu

The aim of the article is to identify the main components of government overall liabilities based on the Fiscal Risk Matrix classification introduced by the World Bank in 1999, and to estimate the amount and structure of these liabilities in European Union countries (EU Fiscal Risk Matrix). The climate liabilities definition and methodology included in the EU Fiscal Risk Matrix is also a novelty of the research. The study covered EU member states in the period 2018–2019, taking into account available data from the Eurostat database. On this basis, the EU Fiscal Risk Matrix was developed with the estimated structure of the burden of government liabilities for individual countries and the EU as a whole. The article used statistical and comparative analysis. The major conclusion of our research involves the proposal to implement a unified European methodology of government overall liabilities classification based on the EU Fiscal Risk Matrix to assess the fiscal debt burden and transparency of fiscal policy.

The IMF, its mandate and influence in prevention of financial sector abuse

2016 ◽  
Vol 23 (4) ◽  
pp. 987-1011
Author(s):  
Norman Mugarura
Keyword(s):  
World Bank ◽  
Secondary Data ◽  
Financial Sector ◽  
Data Sources ◽  
Content Type ◽  
The World Bank ◽  
The World ◽  
Secondary Data Sources ◽  
Work Done ◽  
The Imf

Purpose The purpose of this paper is to articulate the mandate of the International Monetary Fund (IMF) not least in promoting a sound legal regulatory environment for markets to operate globally and its inherent challenges. While acknowledging the plausible work done by the IMF in supporting countries to achieve their macro-economic stability, the paper articulates some of its shortcomings as a global institution. It is evident that the post-war climate in which the World Bank and IMF were created has drastically changed – which presupposes that these institutions now need to reposition themselves to reflect on contemporary global challenges accordingly. The author has argued in the past that a robust regulatory system should be devised taking into account the dynamic challenges in the market environment but also to prevent them from happening again. Design/methodology/approach The paper has utilized empirical evidence to evaluate the mandate of the IMF in addressing its dynamic challenges such as the global financial and debt crises in Europe and the USA and prevention of financial sector abuse globally. The IMF is one of the Bretton Woods Institutions charged with the oversight responsibility to enforce policies and enable countries to manage their macro-economic challenges efficiently. Findings The findings demonstrate that the IMF is as relevant and important as it was when it was created in 1945. However, there is a need for intrinsic and structural changes within this institution to continue discharging its mandate in a changed global regulatory landscape. The IMF is still crucial in fostering a fundamental stabilization function to fragile global economies in areas of financial and technical assistance, and developing requisite legal and supervisory infrastructure within fledging member countries. Research limitations/implications The paper was written by analysis of both theoretical and empirical data largely based on secondary data sources. It would have been better to first present the findings in an international conference to solicit wide views and internalize them accordingly. Practical implications While acknowledging the plausible work done by the IMF and its counterpart the World Bank in facilitating global financial markets regulation and prevention of financial sector abuse, as oversight institutions, they need to constantly review their mandate to respond robustly to their dynamic challenges such as the global and debt crises and financial sector abuse. Oversight institutions need to constantly review and adapt their mandate accordingly, if they are to discharge their varied responsibilities efficiently. They cannot stand still in the face of challenges because they will be superseded and kept at a back foot. Social implications Markets and states are embedded in each other, and the way they are regulated is of a significant importance to varied stakeholders and people. Originality/value This paper is one of its kind, is unique in its character and evaluates embedded issues using empirical evidence in a way not done in its context before. Secondary data sources have been evaluated to achieve a thoughtful analysis of the objectives of the paper.

Major obstacles facing business enterprises in an emerging economy: the case of Ghana using the World Bank Enterprise Survey

2021 ◽  
Vol 28 (3) ◽  
pp. 475-487
Author(s):  
Ibrahim Mohammed ◽  
Alhassan Bunyaminu
Keyword(s):  
World Bank ◽  
Emerging Economy ◽  
Probit Regression ◽  
Cross Sectional ◽  
Content Type ◽  
The World Bank ◽  
The World ◽  
Business Enterprises ◽  
World Bank Enterprise Survey ◽  
Enterprise Survey

PurposeThis paper aims at identifying the major obstacles to business enterprise in an emerging economy and how these obstacles are associated with different characteristics of the enterprises.Design/methodology/approachThe study relied on the World Bank Enterprise Survey data on Ghana and applied binary and ordinal probit regression techniques to estimate the associations between the characteristics of the enterprises and the identified obstacles. Significance testing of the associations is also conducted.FindingsThe five main obstacles perceived by most of the enterprises in the study are access to finance, electricity, access to land, customs and trade regulations and tax rates. These obstacles are associated in different ways to growth rate (high vs low growth), scale (small and medium vs large), age, size of employees, the experience of the top manager and ownership (wholly domestic vs foreign ownership).Research limitations/implicationsAs a cross-sectional study focusing on Ghana, the findings are informative about the major obstacles facing business enterprises in an emerging economy; however, the ecological validity of these findings may be limited to factors specific to Ghana.Originality/valueGiven the representativeness of the Enterprise Survey, policymakers can rely on these findings to formulate useful policies to promote the operations of business enterprises.

scholarly journals Do Democratic Economies Grow Faster? The Case of Asia vs. the EU

2018 ◽  
Vol 14 (2) ◽  
pp. 115
Author(s):  
Samuel D. Barrows
Keyword(s):  
World Bank ◽  
Capita Income ◽  
Time Frame ◽  
Per Capita Income ◽  
The World Bank ◽  
The World ◽  
Per Capita ◽  
Economic Growth Rates ◽  
The Impact ◽  
The Eu

The dynamics of the five fastest growing GDP per capita economies in Asia and the EU are studied between 2010 and 2014. This time frame was selected in order to avoid the height of the 2008-2009 financial crisis, but to include the stimulus and recovery periods which occurred afterward. The intent was not to compare the recoveries or the impact of the stimulus programs. The intent was to compare the economic growth rates of the two groups and also the absolute per capita income along with five topic areas on economies including: configuration, utilization, investments, demographics, and outcomes. A total of twenty measurements are used for assessment from the World Bank databank website. The findings are that the Asian economies grew faster while the EU economies had a higher per capita income. The workforces of the Asia economies are also younger and more flexible whereas the workforces of the EU economies are older, but more educated. Discussions include the links between effective governments and economic development and the links between democracy and economic levels.

Cognitive abilities and income: preliminary evidence from a developing country

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Raufhon Salahodjaev ◽  
Ziyodakhon Malikova
Keyword(s):  
Human Capital ◽  
World Bank ◽  
Cognitive Abilities ◽  
Cognitive Skills ◽  
Preliminary Evidence ◽  
Standard Deviation Increase ◽  
Content Type ◽  
The World Bank ◽  
Unconditional Model ◽  
The World

Purpose Related literature finds that human capital proxied by cognitive abilities is an important antecedent of numerous specific life outcomes. The purpose of this study is to extend existing evidence by investigating the link between cognitive skills and income in Tajikistan. Tajikistan is a landlocked low-income country situated in Central Asia. Its population is 9.1 million people and gross domestic product per capita of US$822. According to the World Bank, Tajikistan has made significant progress in decreasing poverty levels from 83% in 2000 to 29.5% in 2017. Design/methodology/approach The data for this study comes from the 2013 Jobs, Skills and Migration Survey conducted by the World Bank and the German Society for International Cooperation. The main explanatory variable of the study is the cognitive abilities index of the respondents. The survey used item response theory (IRT) approach to estimate the ability of respondents. IRT is a method or a set of statistical frameworks, used to explore assessment item data, such as cognitive abilities assessment data. The wage function was estimated using the ordinary least squares method because the results are easier to interpret (Jencks, 1979; Bowles et al., 2001; Groves, 2006). Findings The baseline results are reported in Table 2. The results in Column 1 demonstrated the link between cognitive abilities and income without control variables (unconditional model). As expected, cognitive abilities are positively and significantly related to income (a1 = 0.0715, p < 0.01). The results from the unconditional model suggest that one standard deviation increase in cognitive abilities is associated with a nearly 17% increase in income. Research limitations/implications However, the study has a number of limitations. First, the dependent variable measures the overall income of the respondent, which includes the profit from other businesses. The survey does not provide data on monthly wages of respondents. Second, the sample may not perfectly represent the overall population of Tajikistan. To partially resolve this issue, this paper re-estimated out results for various sub-samples. Another important limitation of this study is the lack of respondent’s family background, which is an important correlate of human capital and income. Practical implications The results in the study offer preliminary evidence on the link between cognitive abilities and income in Tajikistan. However, the results of the study also suggest that both measures of human capital are positively related to income. Therefore, policymakers in Tajikistan should invest greater resources to health care, education and training programs as cognitive skills can be built in particular in the early stages of the life cycle. Indeed, Tajikistan has a significant potential for economic growth model driven by human capital. According to the World Bank, the adult literacy rate in Tajikistan is 100%, which is significantly above of what is observed in other developing countries. This may imply that the human potential in this country is considerable, and further investment in soft and hard skills would have a positive impact on economic growth. Originality/value This paper offers new evidence on the link between cognitive abilities and income, using data from Tajikistan. First, this paper finds that cognitive abilities are positively and significantly correlated with income. Second, this paper finds that this link remains robust even when this paper control for a large set of personal and job-related characteristics. The results from the unconditional model suggest that one standard deviation increase in cognitive abilities is associated with nearly a 17% increase in income.

Global reduction in 'unbanked' numbers to gather pace

2015 ◽  
Keyword(s):  
World Bank ◽  
Financial Services ◽  
Positive Impact ◽  
Significant Progress ◽  
Financial Access ◽  
Content Type ◽  
The World Bank ◽  
Credit Creation ◽  
The World ◽  
Global Reduction

Subject Progress in the reduction of the number of unbanked people. Significance The World Bank has set an ambitious goal of universal financial access for everyone by 2020. The latest statistics show that many countries are making significant progress towards this goal. Some technological measures that increase access to financial services may increase transparency, stemming corruption and curtailing money laundering. However, by making it easier to spot corruption, these measures may boomerang, leading to the withdrawal of some institutions, particularly international ones, from problematic markets. Impacts Lack of access to financial services will remain a global problem that traps individuals in cycles of poverty. The World Bank encourages people to use bank accounts; having one in name only has little positive impact. Countries that mistake credit creation for improving financial access risk exacerbating financial and economic instability.

Economic gloom portends instability in Zimbabwe

2016 ◽  
Keyword(s):  
South African ◽  
World Bank ◽  
Driving Force ◽  
Security Forces ◽  
Content Type ◽  
Regional Market ◽  
The World Bank ◽  
The World ◽  
The Government ◽  
South African Rand

Significance Mawarire is the founder of the 'This Flag' movement, which has been a driving force behind a wave of demonstrations and strikes earlier this month against graft, unemployment and economic mismanagement by President Robert Mugabe's government. Impacts Import bans will adversely affect South African exporters, for whom Zimbabwe is a key regional market. Use of the South African rand in Zimbabwe will remain unpopular, due to concerns about its weakness against the dollar. The government will prioritise cash for paying the salaries of the security forces, since these underpin the regime's survival. Loans from the African Export-Import Bank will help Harare to begin paying the World Bank some of its arrears.

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