Growth in Asia and the Pacific outperformed expectations in late 2023, reaching 5.0 percent for the year. Inflation has continued to decline, albeit at varying speeds: some economies are still seeing sustained price pressures, while others are facing deflationary risks.In 2024, growth is projected to slow modestly to 4.5 percent. …
Decentralisation has been one of the most prominent public sector reforms endorsed by international institutions. It has been initiated in a large number of developing economies, particularly in sub-Saharan Africa. To date, few studies propose a quasi-experimental evaluation of its capacity to contribute to local development, or do so but …
This study combines pre-COVID-19 household surveys with 2020 macro data to simulate changes in household economic welfare and poverty rates through job losses, labor income changes, and non-labor (remittance) income changes during 2020 in Brazil, Sri Lanka, the Philippines, South Africa, and Türkiye. It first presents an in-depth analysis of …
In January 2023, out of 36 African currencies reviewed, 29 currencies depreciated against the USD on annual basis, while 7 currencies recorded appreciations (see Table 19). The highest currency depreciation against USD was recorded for the Zimbabwean Dollar at 57.5 percent. Of the seven currencies that recorded appreciations against the …
More than at any time in the history, climate change is having an increasingly unprecedented effect on human lives. Economies are affected severely in terms of sovereign risk due to climate change variations influencing the macroeconomy. Asian countries are highly susceptible to economic downturn due to the consequences of climate …
The world output growth is projected to decelerate from an estimated 3 per cent in 2022 to 1.9 per cent in 2023, marking one of the lowest growth rates in recent decades, according to this report by the United Nations. A series of severe and mutually reinforcing shocks — the …
Faltering global employment growth and the pressure on decent working conditions risk undermining social justice, according to this World Employment and Social Outlook: Trends 2023 report by the ILO. The current global economic slowdown is likely to force more workers to accept lower quality, poorly paid jobs which lack job …
Algeria's economy continued to recover in the first half of 2022, led by a return of oil production to pre-pandemic levels and a continued recovery of the service sector along with a more vigorous agricultural activity. The recovery should continue into 2023, supported by the nonhydrocarbon sector and public expenditure …
The Adaptation Economy, which investigates the need for climate adaptation investment in 10 markets – including China, India, Bangladesh and Pakistan. Failure to invest the bare minimum needed to withstand projected climate damage could cost emerging markets hundreds of billions in climate damages and lost GDP growth this decade. The …
This paper seeks to fill the gap with regard to the quantification of the impact of climate change on future levels of poverty across different income thresholds and scenarios. Climate change is widely understood to be a significant driver of future patterns of human well-being, with numerous studies concluding that …
In spite of progress made to date and the significant long-term ambition announced by many countries, climate policy actions remain insufficient to meet the Paris Agreement objectives. While several international initiatives aim to track and monitor climate policies, there is not yet a “go to” place for a comprehensive inventory …
Climate and demographic changes are two major long-term trends that are evolving simultaneously. The global population is aging, while climate change is increasing the frequency and severity of weather-related disasters and lowering productivity. This paper examines the macroeconomic effects of these three changes in a common framework. Simulation results suggest …
Nigeria’s economy needs to grow faster to reduce poverty. Despite favorable global oil prices, “business as usual” economic management is not delivering desired outcomes and, even if a crisis is avoided in the near-term, long-standing policy and institutional challenges are persisting and severely constraining the economy. This hinders the prospects …
In this publication, take stock of the knowledge and know-how induced by the BIODEV2030 project’s first step, which is to assess the main threats to biodiversity and provide elements to address the following specific questions: how were main threats to biodiversity identified and ranked and associated sectors selected in each …
This year’s Global Health Expenditure Report: Rising to the Pandemic's Challenges reveals how health expenditure was impacted during 2020, the first year of the COVID-19 pandemic. The report explores: Whether the health spending patterns by governments, households, and donors changed during the first year of the COVID-19? Will 2020 patterns …
The Pacific region is at a crossroads. The advancement of the Sustainable Development Goals aspirations across all sectors are facing the test of international solidarity. The Pacific Small Island Developing States(PSIDS) contribute less than 0.03 per cent of the world’s total greenhouse gas emissions but are amongst the most vulnerable …
This report assesses social protection measures in Asia, shows how they help tackle crises such COVID-19 and climate change, and outlines the need for more inclusive, shock-responsive policies to cut poverty and spur equitable development. Centered around ADB’s Social Protection Indicator, it assesses data from 26 economies to show how …
Climate change is already affecting people’s lives and livelihoods in Angola, as well as the Angolan economy. The country is experiencing increasingly severe and frequent climate hazards, including the South’s worst prolonged droughts in decades. Climate change impacts also come with a heavy price tag: climate-related disasters (floods, storms, droughts) …
India’s economy has demonstrated resilience despite a challenging external environment, says the World Bank in its latest India Development Update, a World Bank flagship publication. The report titled “Navigating the Storm”, finds that while the deteriorating external environment will weigh on India’s growth prospects, the economy is relatively well positioned …
Labour markets are recovering from the COVID-19 crisis in Asia and the Pacific, but now face new challenges like inflation and geopolitical tensions. The report gives the regional labour market context and makes a first-time assessment of regional sectoral estimates to highlight which sectors are growing as sources of jobs, …
Humanity is embedded in nature and depends profoundly on the goods and services it generates. Future economic development and well-being hinge on healthy and resilient ecosystems that provide our food and raw materials, drinking water, clean air, and the stability of the climate system. More than half of the world’s …
