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This paper updates the Reported Social Unrest Index of Barrett et al (2020), reviewing recent developments in social unrest worldwide since the start of the COVID-19 Pandemic. It shows that unrest was elevated during late 2019, coincident with widespread protests in Latin America. Unrest then fell markedly during the early stages of the pandemic as voluntary and involuntary social distancing struck. Social unrest has since returned but generally remains below levels seen in 2019.

Macroeconomics --- Economics: General --- Diseases: Contagious --- Model Evaluation and Selection --- International Relations and International Political Economy: General --- Public Economics: Miscellaneous Issues: General --- Health Behavior --- Economic & financial crises & disasters --- Economics of specific sectors --- Infectious & contagious diseases --- COVID-19 --- Health --- Currency crises --- Informal sector --- Economics --- Communicable diseases --- Lebanon

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The Coronavirus disease (COVID-19) triggered a sharp contraction of economic activity across Asia and the Pacific. Policymakers adopted a “whatever it takes” approach in their initial response, relying mainly on liquidity support to help firms survive the shock. This paper discusses how the initial policy response should evolve as the region’s economies stabilize and enter the recovery phase. Many firms will need to repair their balance sheets and adjust their business models to the post-pandemic realities. The priority will be to support this process by facilitating the efficient restructuring of viable firms while allowing nonviable firms to exit. This requires action on three complementary fronts: reinforcing private debt resolution frameworks to flatten the insolvency curve, ensuring that adequate financing is available to support corporate restructuring, and facilitating access to equity to speed up the reallocation of jobs and capital into growth sectors.

Macroeconomics --- Economics: General --- International Economics --- Macroeconomics: Consumption, Saving, Production, Employment, and Investment: General (includes Measurement and Data) --- Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General --- Financial Institutions and Services: General --- Corporate Finance and Governance: General --- Fiscal Policies and Behavior of Economic Agents: General --- Public Economics: Miscellaneous Issues: General --- Economic & financial crises & disasters --- Economics of specific sectors --- Financial crises --- Economic sectors --- Currency crises --- Informal sector --- Economics

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This paper examines the role of the legislature in budget processes. The paper highlights that for promoting good governance and fiscal transparency, the legislature’s active engagement in the budget process is essential. When fiscal policies and medium-term budgetary objectives are debated in parliament, budget strategies and policies are “owned” more widely. However, more active participation by the legislature runs the risk that fiscal discipline deteriorates. In countries where the legislature has unrestrained budget amendment authority, parliament is prone to introduce changes that increase spending or reduce taxes.

Accounting --- Budgeting --- Macroeconomics --- Public Finance --- Structure, Scope, and Performance of Government --- National Budget, Deficit, and Debt: General --- National Budget --- Budget Systems --- National Deficit Surplus --- Debt --- Debt Management --- Sovereign Debt --- Forecasts of Budgets, Deficits, and Debt --- Public Economics: Miscellaneous Issues: General --- Public Administration --- Public Sector Accounting and Audits --- Fiscal Policy --- Budgeting & financial management --- Management accounting & bookkeeping --- Financial administration & public finance law --- Public finance accounting --- Budget planning and preparation --- External audit --- Fiscal law --- Fiscal rules --- Fiscal accounting and reporting --- Public financial management (PFM) --- Budget execution and treasury management --- Fiscal policy --- Budget --- Auditing --- Finance, Public --- Law and legislation --- United Kingdom

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Esta nota1 trata las siguientes cuestiones principales: • ¿En qué momento del ciclo presupuestario debería participar el parlamento? • ¿Qué aspectos aprueba normalmente el parlamento, a diferencia de los aspectos que revisa? • ¿Con qué estructura interna y apoyo debería contar el parlamento para examinar los proyectos de presupuesto preparados por el gobierno y el presupuesto aprobado? • ¿Qué requisitos legales y de rendición de cuentas debería imponer el parlamento al poder ejecutivo? • ¿De qué manera debería formalizarse la participación de la legislatura en los procesos presupuestarios en las leyes y reglamentaciones?.

Macroeconomics. --- Economic policy. --- Monetary policy. --- Accounting --- Auditing --- Budget planning and preparation --- Budget Systems --- Budget --- Budgeting & financial management --- Budgeting --- Debt Management --- Debt --- External audit --- Finance, Public --- Financial administration & public finance law --- Fiscal accounting and reporting --- Fiscal law --- Fiscal Policy --- Fiscal policy --- Fiscal rules --- Forecasts of Budgets, Deficits, and Debt --- Law and legislation --- Macroeconomics --- Management accounting & bookkeeping --- National Budget --- National Budget, Deficit, and Debt: General --- National Deficit Surplus --- Public Administration --- Public Economics: Miscellaneous Issues: General --- Public finance accounting --- Public Finance --- Public Sector Accounting and Audits --- Sovereign Debt --- Structure, Scope, and Performance of Government --- United Kingdom

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With limited financing options, increasing investment efficiency will be a critical avenue to building infrastructure for many countries, particularly in the context of post-pandemic recovery and rising debt emanating from higher energy costs and other pressures. Estimating investment efficiency, however, presents many methodological pitfalls. Using various methods—–stochastic frontier analysis, data envelopment analysis (DEA), and bootstrapped DEA—this paper estimates efficiency scores for a wide range of countries employing metrics of infrastructure quantity and utilization. We find that efficiency scores are relatively robust across methodologies and data used. A considerable efficiency gap exists: Removing all inefficiencies could increase infrastructure output by 55 percent overall, when averaging across 12 estimation approaches—in particular, by 45 percent for advanced economies, 54 percent for emerging countries, and 65 percent for low income countries. Infrastructure output would increase by a still-sizeable 30 percent if instead of eliminating all efficiency, countries achieved the efficiency level of their income group’s 90th percentile.

Aggregate Factor Income Distribution --- Capacity --- Capital --- Currency crises --- Economic & financial crises & disasters --- Economics of specific sectors --- Economics --- Economics: General --- Expenditure --- Financial institutions --- Financial Instruments --- Income --- Industry Studies: Transportation and Utilities: General --- Informal sector --- Infrastructure --- Institutional Investors --- Intangible Capital --- Investment & securities --- Investment --- Investments: Stocks --- Macroeconomics --- National accounts --- National Government Expenditures and Related Policies: Infrastructures --- Non-bank Financial Institutions --- Other Public Investment and Capital Stock --- Pension Funds --- Public Economics: Miscellaneous Issues: General --- Public finance & taxation --- Public Finance --- Public investment spending --- Public investments --- Saving and investment --- Stocks