The Global Trade Slowdown


Book Description

This paper focuses on the sluggish growth of world trade relative to income growth in recent years. The analysis uses an empirical strategy based on an error correction model to assess whether the global trade slowdown is structural or cyclical. An estimate of the relationship between trade and income in the past four decades reveals that the long-term trade elasticity rose sharply in the 1990s, but declined significantly in the 2000s even before the global financial crisis. These results suggest that trade is growing slowly not only because of slow growth of Gross Domestic Product (GDP), but also because of a structural change in the trade-GDP relationship in recent years. The available evidence suggests that the explanation may lie in the slowing pace of international vertical specialization rather than increasing protection or the changing composition of trade and GDP.




New Normal and New Rules in International Trade, Economics and Marketing


Book Description

With the increase in urbanization after the Industrial Revolution, success in local governance and balanced regional development has become even more important for the increase of overall welfare.




Impact Of Covid-19 On Asian Economies And Policy Responses


Book Description

On March 12th 2020, World Health Organization (WHO) declared the spreading of the new virus, 2019-nCoV, a pandemic. In Asia, the virus, more commonly referred to as COVID-19, has been spreading since the end of December. To contain the public health threat, almost all countries enforced a variety of measures, including lockdowns, to minimize face-to-face human interactions between the infected and the susceptible.While these vigilant measures save lives, they also generate a substantial negative economic shock that immediately halts demand and significantly disrupts supply, global production value chain and trade. The consequences are dire — considerable decline in output, massive surge in unemployment, countless bankruptcy cases, and unrelentless worries over financial stability. The result, a worldwide economic setback, is more severe than that experienced during the Great Financial Crisis of 2008-2009.Asia's experiences with COVID-19 precede that in the West. This fortuitous timing allows Asia to share its learnings drawn from experiences to benefit the world.The Asian Bureau of Finance and Economic Research's (ABFER) community has gathered a collection of insights to inform the public. Besides providing access to research on the pandemic conducted in Asia, these commentaries offer comprehensive information on the effects of the pandemic, the effectiveness of measures employed to contain it and the subsequent economic impacts from such implementation. With granular analyses of government policies and their associated economic rescue packages, these commentaries elucidate the hard trade-offs between public health protection and economic security. Finally, the commentaries address the broader impact of the pandemic on international trade, global value chains and society.




Economic Policy for a Pandemic Age


Book Description

The global health and economic threats from the COVID-19 pandemic are not yet behind us. While the development of multiple safe and highly effective vaccines in less than a year is cause for hope, several significant dangers to recovery of global health and income are still clear and present: New concerning variants of SARS-CoV-2, the virus that causes COVID-19, continue to emerge at an alarming rate in different parts of the world; at the same time, vaccine rollouts have been shockingly inefficient even in some rich countries, while much of the developing world waits in line behind them for vaccines to arrive. The Briefing covers several policy areas in which cooperative forward-looking policy action will materially improve our chances of truly escaping today's pandemic and making future pandemics less costly.




COVID-19 in Southeast Asia


Book Description

COVID-19 has presented huge challenges to governments, businesses, civil societies, and people from all walks of life, but its impact has been highly variegated, affecting society in multiple negative ways, with uneven geographical and socioeconomic patterns. The crisis revealed existing contradictions and inequalities in society, compelling us to question what it means to return to “normal” and what insights can be gleaned from Southeast Asia for thinking about a post-pandemic world. In this regard, this edited volume collects the informed views of an ensemble of social scientists – area studies, development studies, and legal scholars; anthropologists, architects, economists, geographers, planners, sociologists, and urbanists; representing academic institutions, activist and charitable organisations, policy and research institutes, and areas of professional practice – who recognise the necessity of critical commentary and engaged scholarship. These contributions represent a wide-ranging set of views, collectively producing a compilation of reflections on the following three themes in particular: (1) Urbanisation, digital infrastructures, economies, and the environment; (2) Migrants, (im)mobilities, and borders; and (3) Collective action, communities, and mutual action. Overall, this edited volume first aims to speak from a situated position in relevant debates to challenge knowledge about the pandemic that has assigned selective and inequitable visibility to issues, people, or places, or which through its inferential or interpretive capacity has worked to set social expectations or assign validity to certain interventions with a bearing on the pandemic’s course and the future it has foretold. Second, it aims to advance or renew understandings of social challenges, risks, or inequities that were already in place, and which, without further or better action, are to be features of our “post-pandemic world” as well. This volume also contributes to the ongoing efforts to de-centre and decolonise knowledge production. It endeavours to help secure a place within these debates for a region that was among the first outside of East Asia to be forced to contend with COVID-19 in a substantial way and which has evinced a marked and instructive diversity and dynamism in its fortunes.




Economic and fiscal outlook


Book Description

The Office for Budget Responsibility was established to provide independent and authoritative analysis of the UK's public finances. Part of this role includes producing the official economic and fiscal forecasts. This report sets out forecasts for the period to 2015-16. The report also assesses whether the Government is on course to meet the medium-term fiscal objectives and presents preliminary observations on the long-run sustainability of the public finances. Since the June forecast, the UK economy has recovered more strongly than initially expected. The GDP growth was greater than expected in both the 2nd and 3rd quarters, but that unemployment levels have risen to levels that the June forecast did not anticipate until the middle of 2012. In general the world economy has also grown more strongly. CPI inflation has remained slightly higher than expected in June, whilst public finances have performed as forecast. The interest rates on UK debt are lower than in June. The OBR forecasts that the economy will continue to recover from the recession, but at a slower pace than the recoveries of the 1970s, 1980s and 1990s. The publication is divided into 5 chapters with two annexes.




Fit for Growth


Book Description

A practical approach to business transformation Fit for Growth* is a unique approach to business transformation that explicitly connects growth strategy with cost management and organization restructuring. Drawing on 70-plus years of strategy consulting experience and in-depth research, the experts at PwC’s Strategy& lay out a winning framework that helps CEOs and senior executives transform their organizations for sustainable, profitable growth. This approach gives structure to strategy while promoting lasting change. Examples from Strategy&’s hundreds of clients illustrate successful transformation on the ground, and illuminate how senior and middle managers are able to take ownership and even thrive during difficult periods of transition. Throughout the Fit for Growth process, the focus is on maintaining consistent high-value performance while enabling fundamental change. Strategy& has helped major clients around the globe achieve significant and sustained results with its research-backed approach to restructuring and cost reduction. This book provides practical guidance for leveraging that expertise to make the choices that allow companies to: Achieve growth while reducing costs Manage transformation and transition productively Create lasting competitive advantage Deliver reliable, high-value performance Sustainable success is founded on efficiency and high performance. Companies are always looking to do more with less, but their efforts often work against them in the long run. Total business transformation requires total buy-in, and it entails a series of decisions that must not be made lightly. The Fit for Growth approach provides a clear strategy and practical framework for growth-oriented change, with expert guidance on getting it right. *Fit for Growth is a registered service mark of PwC Strategy& Inc. in the United States







Revitalising Asean Economies In A Post-covid-19 World: Socioeconomic Issues In The New Normal


Book Description

The novel coronavirus (COVID-19) pandemic was reported in China in December 2019, and later spread to other parts of the world. Countries in Southeast Asia were some of the first nations affected by the pandemic due to their geographical proximities and trade relations with China. In January 2020, the virus spread to some countries within the Association of Southeast Asian Nations (ASEAN). The number of confirmed cases kept increasing within ASEAN and other countries of the world. Consequently, countries in ASEAN introduced preventive and containment measures to cope with the pandemic, which include quarantines, lockdowns, restrictions of movements and large gatherings, as well as school and business closures.Beyond the efforts of preventing and containing the spread of the virus, ASEAN's most significant challenges are the social and economic crisis of historic proportions that are beginning to unfold. COVID-19 pandemic has brought interruptions in all sectors of ASEAN economies. It is, therefore, imperative to assess the extent to which the pandemic has impacted the social and economic aspects of the region. This book intends to highlight the social and economic impacts of the COVID-19 pandemic in ASEAN and suggest ways on how to mitigate them. It covers how the shocks from COVID-19 have impacted production, supply chains, demand, commodity prices, consumer behaviour, financial markets, employment, services, transportation and community, and the various policies that ASEAN authorities should put in place to mitigate the effects of the pandemic.




Economics in the Age of COVID-19


Book Description

A guide to the pandemic economy: essential reading about the long-term implications of our current crisis. The COVID-19 pandemic has unleashed a firehose of information (much of it wrong) and an avalanche of opinions (many of them ill-founded). Most of us are so distracted by the everyday awfulness that we don't see the broader issues in play. In this book, economist Joshua Gans steps back from the short-term chaos to take a clear and systematic look at how economic choices are being made in response to COVID-19. He shows that containing the virus and pausing the economy—without letting businesses fail and people lose their jobs—are the necessary first steps.