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2011 (4)

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Book
Europe 2020 : The Employment, Skills and Innovation Agenda.
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Year: 2011 Publisher: Washington, D.C. : The World Bank,

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Abstract

This technical note highlights some of the work the World Bank has recently conducted in support of the growth agenda outlined in the Europe 2020 strategy. The World Bank is actively supporting the new member states, as well as accession and neighborhood countries, in achieving the Europe 2020 targets of smart, sustainable, and inclusive growth. The engagement consists of policy and program lending in these areas as well as analytical work. This note focuses on highlighting some of the Bank's analytical Europe 2020 work pertaining to raising employment rates and skills levels as well as to spur innovation and technology absorption. The technical note is structured as follows: section one provides the macroeconomic background, and highlights how the economies of the European Union (EU)-10 countries were steadily catching up with those of the EU-15 countries, but then the catching-up was interrupted by the onset of the global financial and economic crisis. Section two focuses on low employment rates in EU-10 countries, particularly among older and less-educated workers, women, and minority groups, in particular Roma, and highlights some key issues in the organization of labor markets and labor market related institutions. Section three focuses more specifically on skills development across the life cycle, with a brief discussion on selected policy areas: (1) expansion of early childhood development programs to universal coverage; (2) adopting ambitious, comprehensive approaches to schooling to support higher levels of generic skills for all; and (3) strengthening access to and efficiency of tertiary education through higher education financing reform and data collection as a basis for system steering. Section four focuses on innovation and technology absorption, highlighting how more and more efficient research and development (R&D) spending will boost economic growth in EU10 countries.


Book
Transition to a Low-Emissions Economy in Poland
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Year: 2011 Publisher: Washington, D.C. : The World Bank,

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Against the backdrop of agreement that global coordinated action is needed to prevent dangerous climate change, individual countries are thinking through the implications of climate action for their economies and people. The rest of the report is organized along the following lines. The next section provides background on Poland's greenhouse gas (GHG) emissions. Then section B sets out Poland's existing carbon abatement targets and key policy challenges related to GHG mitigation. The next section summarizes the innovative methodological approach used by the report. Section D discusses the methods and implications of constructing business-as-usual or reference scenarios. Section E provides the major findings from the first model, the engineering approach, on the costs of measures aimed at GHG mitigation for Poland. Section F explains how these findings are expanded and revised by incorporation into the first macroeconomic model. Section G provides an analysis of the economic impact through 2020 of mitigation measures within the constraints of European Union (EU) policy arrangements. Section H examines the energy sector and how Section E's findings are enhanced by optimization of the structure of the energy sector. Section I takes a first look at the challenges of energy efficiency. Section J provides additional analysis of the transport sector. The last section provides some notes on additional issues and further work.


Book
Market Phoenixes and Banking Ducks Are Recoveries Faster in Market-Based Financial Systems?
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ISBN: 1463986084 1463972962 1283554119 9786613866561 1463920482 Year: 2011 Publisher: Washington, D.C. : International Monetary Fund,

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Recoveries vary considerably across countries: our paper compares recoveries in bank-based and market-based economies and finds that market-based economies experience significantly and durably stronger rebounds than the bank-based ones (in particular the more bank-based economies of continental Europe). Further, stronger recoveries also tend to be associated with broader economic flexibility. Our findings suggest that dealing with bank sector vulnerabilities is paramount to support the recovery. In the medium term, structural policies to deepen financial markets are useful, but need to be complemented with structural measures to address rigidities more broadly in the real economy.


Book
South Africa Economic Update, November 2011 : Focus on Green Growth.
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Year: 2011 Publisher: Washington, D.C. : The World Bank,

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The global financial roller coaster, with the Euro zone as its lead car, has hit economic prospects across the globe. The South African economy, with its close links to the world economy, has suffered, too, resulting in weakened growth prospects, lower fiscal revenues, lower and more volatile valuation of the rand, and dampened external financing. This further compounds the policy challenges facing the authorities, on top of their preoccupation with unyielding unemployment, which requires higher and more inclusive economic growth. Policymaking is also conditioned by a growing recognition that future growth needs to be less carbon-intensive. As elsewhere, opportunities in green economies are viewed with keen interest, as a way of simultaneously targeting a cleaner environment and stimulating innovation, growth, and job creation. While green policies can have large synergies and co-benefits with the growth and employment agenda, they are not a substitute for it. Indeed, such synergies are likely to be mutually enhancing and larger when the growth and environment objectives are being pursued by multiple, well-targeted and coordinated policies.

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