Bøger i Departmental paper serien

The oil market is undergoing fundamental change. New technologies are increasing the supply of oil from old and new sources, while rising concerns over the environment are seeing the world gradually moving away from oil. This spells a significant challenge for oil-exporting countries, including those of the Gulf Cooperation Council.

This paper aims to contribute to the debate on the choice of policies to reach the more ambitious 2030 emission reduction goals currently under consideration. It provides an analysis of the macroeconomic and distributional impacts of different options to scale up the mitigation effort, and proposes enhancements to the existing EU policies.

This paper discusses sectoral policies needed to achieve the ambitious greenhouse gas (GHG) emissions reduction targets announced in the European Union's Green Deal, complementing the companion paper "EU Climate Mitigation Policy", which focuses on broader EU-level policies.

This paper looks empirically at some economic effects of volatile exchange rates and financial conditions and examines policy responses for managing such volatility.

The populations of Central and Eastern European (CESEE) countries - with the exception of Turkey - are expected to decrease significantly over the next 30 years, driven by low or negative net birth rates and outward migration. These changes will have significant implications for growth, living standards and fiscal sustainability.

The Central, Eastern, and South Eastern European region is ripe for a reassessment of the role of the state in economic activity. The rapid income convergence with Western Europe of the early 2000s was not always equally shared across society, and it has now slowed dramatically in many countries of the region.

Europe is integrated into global value chains and recent trade tensions raise the question of how European economies would be affected by the introduction of tariffs or other trade barriers. This paper estimates the impact of trade shocks and growth spillovers using value added measures to gauge the associated costs across European countries.

CCA countries achieved gains in inclusiveness over the past 20 years as incomes increased and poverty, inequality, and unemployment declined.

The paper provides an overall view of communications across various areas of economic policy, aiming to help country authorities as they increasingly use communications as a policy tool in its own right.

Provides policymakers in the Caribbean with a governance framework for improving infrastructure through Public-Private Partnerships, while limiting their fiscal costs and risks for the government, and showcases Canada's support to FAD technical assistance in the region and FAD collaboration with CARTAC and the Caribbean Development Bank

Looks at feasible concrete action that can be taken by correspondent and respondent banks, money transfer operators, the Pacific authorities, the Australian and New Zealand authorities, and international organisations.

FinTech is a major force shaping the structure of the financial industry in sub-Saharan Africa. FinTech is emerging as a technological enabler in the region, improving financial inclusion and serving as a catalyst for the emergence of innovations in other sectors, such as agriculture and infrastructure.

The structure of debt can have financial and real consequences. The aim of this paper is to examine the evolution and determinants of debt maturity and to characterize differences across countries.

Individual countries of the Maghreb have achieved substantial progress on trade, but, as a region they remain the least integrated in the world. The share of intraregional trade is less than 5% of their total trade, substantially lower than in all other regional trading blocs around the world.

The aftermath of the global financial crisis has left many advanced economies with very high sovereign debt ratios and some emerging markets with high debt. This report considers whether there are ways to expand fiscal space that do not involve countries paying down debt or promising to do so in the future.

This paper estimates the fiscal costs of population aging in Latin America and provides policy recommendations on reforms needed to make these costs manageable. Although Latin American societies are still younger than most advanced economies, like other emerging markets the region is already in a process of population aging that is expected to accelerate in the remainder of the century. This will directly affect fiscal sustainability by putting pressure on public pension and health care systems in the region that are already more burdened than, for example, in emerging Asia, a region with a similar demographic structure. A stylized cross-country exercise, drawing on demographic projections from the United Nations and methodologies developed by the IMF to derive public spending projections, is used to quantify long-term fiscal gaps generated by population aging in 18 Latin American countries. Several aspects of current pensions and health care systems in Latin Amer-ica make the region's long-term fiscal positions particularly vulnerable to population aging.