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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.
Accounting --- Accreditation --- Adult Education --- Capital Markets --- Child Care --- Civil Service --- Early Childhood --- Early Retirement --- Economic Recovery --- Education --- Educational Attainment --- Employment --- Equality --- Expenditures --- Fiscal Policy --- Foreign Direct Investment --- Gender --- Higher Education --- Human Capital --- Human Rights --- Insurance --- Job Creation --- Job Search Assistance --- Labor Costs --- Labor Market --- Labor Markets --- Labor Mobility --- Labor Policies --- Life Expectancy --- Lifelong Learning --- Literacy --- Minimum Wage --- Older Workers --- Private Investment --- Private Sector --- Privatization --- Public Finance --- Purchasing Power --- Quality Assurance --- Quality of Education --- Recession --- Schools --- Science and Technology Development --- Secondary Education --- Skilled Workers --- Skills Development and Labor Force Training --- Social Inclusion --- Social Protections and Labor --- Teachers --- Technical Assistance --- Technology Innovation --- Technology Transfer --- Tertiary Education --- Total Factor Productivity --- Venture Capital --- Vulnerable Groups
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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.
Adaptation to Climate Change --- Carbon Dioxide --- Carbon Emissions --- Carbon Intensity --- Carbon Taxes --- Clean Energy --- Climate --- Climate Change --- Climate Change Economics --- Climate Change Mitigation and Green House Gases --- Coal --- Coral Reefs --- Deforestation --- Economic Costs --- Economic Recovery --- Electricity --- Emission Reductions --- Emissions --- Employment --- Energy --- Energy and Environment --- Energy Consumption --- Energy Efficiency --- Energy Intensity --- Energy Policy --- Energy Production --- Energy Production and Transportation --- Energy Security --- Energy Supply --- Environment --- Extreme Weather Events --- Feasibility --- Financial Crisis --- Financial Services --- Floods --- Fossil Fuels --- Fuel Prices --- Global Warming --- Greenhouse Gases --- Gross Domestic Product --- Hurricanes --- Hydrofluorocarbons --- Land-Use Change --- Macroeconomics and Economic Growth --- Market Economy --- Methane --- Natural Gas --- Nuclear Power --- Power Generation --- Power Plants --- Power Sector --- Precipitation --- Rainfall --- Renewable Energy --- Revenue Recycling --- Temperature --- Transport
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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.
Capital market. --- Banks and banking. --- Financial crises. --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- Crises --- Agricultural banks --- Banking --- Banking industry --- Commercial banks --- Depository institutions --- Finance --- Financial institutions --- Money --- Capital markets --- Market, Capital --- Loans --- Money market --- Securities --- Crowding out (Economics) --- Efficient market theory --- Financial Risk Management --- Macroeconomics --- Money and Monetary Policy --- Industries: Financial Services --- Business Fluctuations --- Cycles --- Financial Markets and the Macroeconomy --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Financial Crises --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Financial Institutions and Services: General --- Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data) --- General Aggregative Models: General --- Economic & financial crises & disasters --- Economic growth --- Monetary economics --- Financial crises --- Economic recovery --- Bank credit --- Financial sector --- Business cycles --- Economic sectors --- National accounts --- Credit --- Financial services industry --- National income --- United Kingdom
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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.
Agricultural Subsidies --- Agriculture --- Air Pollution --- Bonds --- Capital Costs --- Capital Markets --- Carbon Emissions --- Carbon Intensity --- Clean Air --- Clean Water --- Climate --- Climate Change --- Climate Change Mitigation and Green House Gases --- Coal --- Commercial Banks --- Consumers --- Currencies and Exchange Rates --- Debt --- Deforestation --- Developed Countries --- Economic Conditions and Volatility --- Economic Costs --- Economic Forecasting --- Economic Growth --- Economic Recovery --- Economies of Scale --- Electricity --- Emissions --- Energy --- Energy Consumption --- Energy Efficiency --- Energy Intensity --- Energy Production --- Energy Production and Transportation --- Energy Subsidies --- Energy Supply --- Environment --- Environmental Economics & Policies --- Environmental Policy --- Environmental Regulation --- Exchange Rates --- Expenditures --- Finance and Financial Sector Development --- Financial Sector --- Financial Services --- Fiscal Policy --- Foreign Direct Investment --- Fossil Fuels --- Gdp --- Green Issues --- Greenhouse Gases --- Gross National Income --- Household Consumption --- Human Capital --- Inflation --- Macroeconomics and Economic Growth --- Monetary Policy --- Natural Gas --- Nuclear Power --- Power Generation --- Power Plants --- Property Rights --- Purchasing Power --- Recycling --- Renewable Energy --- Risk Aversion --- Supply Side --- Trade Barriers --- Trade Policy --- Unemployment
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