Publication Year: within 3 Years and within 5 Years / Topic: Economy

1. The Polish Economy 2023 and Beyond: How to Mend Home Loans

Author:: Andrzej Reich, Dariusz Filar, and Michal Polasik
Publication Date:: 01-2024
Content Type:: Working Paper
Institution:: Center for Social and Economic Research - CASE
Abstract:: The subject of this publication, reflecting the discussion held between experts on 30 March 2023, is that of housing loans in Poland. The publication focuses primarily on discussing the state of mortgages (at the end of the first quarter of 2023). This state is the effect of (a) legislation, (b) institutional solutions, (c) past processes in the financing of housing loans, and recently also (d) the high level of inflation dampening both lending by the banks and the level of interest among bank customers. The publication's second purpose is to present recommendations which, once put into effect, could rectify today’s lamentable situation. All of the proposals presented in this publication lead to one general recommendation: the answer to the current shortcomings lies not in isolated, single changes; what is essential is a new system for the market. This new system should be (a) flexible, (b) free of legal risk while at the same time (c) better protected against market risk, and (d) it should also contain a more comprehensive range of products; on this market (e) the state, as the regulator, should intervene ex-ante and not only ex-post (as has been the case in Poland for the last 20 years), while (f) customers should have the essential minimum of financial knowledge, first and foremost regarding awareness of the risk related to, which by their very nature are long-term loans.
Topic:: Markets, Economy, Interest Rates, Risk, Mortgages, Banking, Loans, and Financial Education
Political Geography:: Europe and Poland

2. China’s Role in the Middle East

Author:: John Calabrese and Yun Sun
Publication Date:: 02-2024
Content Type:: Video
Institution:: Middle East Institute (MEI)
Abstract:: The Middle East Institute (MEI) hosted an on-the-record briefing to discuss China’s role in the Middle East amid rising regional tensions and growing threats to both international security and the global economy.
Topic:: Security, Foreign Policy, International Security, and Economy
Political Geography:: China, Middle East, and Asia

3. Unemployment and Social Crisis in Tunisia

Author:: Vasco Molini
Publication Date:: 03-2024
Content Type:: Working Paper
Institution:: Istituto Affari Internazionali
Abstract:: The decade since the 2010–11 Jasmine revolution has been particularly difficult for Tunisia. The trend of poverty reduction that started in the early 2000s has lost steam, with poverty rates increasing again in the wake of the Covid-19 pandemic and spatial inequalities remaining high. Moreover, the labour market is afflicted by persistent structural problems: high unemployment, high informality and low levels of participation among women and youth. Given the limited opportunities offered by the local labour market, Tunisians increasingly find in emigration the solution to cope with their dire economic and social situation.
Topic:: Migration, Economy, Unemployment, Labor Market, and Social Crisis
Political Geography:: Middle East, North Africa, and Tunisia

4. Decentralising the Just Energy Transition: The role of the private sector in supporting municipalities

Author:: Mmabatho Mongae and Nnaemeka Ohamadike
Publication Date:: 03-2024
Content Type:: Special Report
Institution:: Good Governance Africa (GGA)
Abstract:: With nearly 86% of its carbon dioxide (CO2) coming from coal, South Africa is one of the world’s most coaldependent countries.1 Additionally, it produces nearly a quarter of the continent’s total carbon emissions.2 Its economy is highly dependent on agriculture and mineral extraction, which are energy-intensive. Importantly, South Africa is subject to climate variability and change.3 The effects are exacerbated by dysfunctional municipalities’ limited ability to build climate resilience systems and ensure robust disaster risk management. With local government administrative instability, service delivery failures, and financial mismanagement highlighted by Good Governance Africa’s (GGA) Governance Performance Index (GPI), societal stakeholders bear the brunt of dysfunction, particularly amidst escalating climate-induced natural disasters, which further strain government resources. As such, the fight against climate change requires a coordinated response from government, the private sector, and citizens. Presently, citizens do not identify the private sector as a key stakeholder in mitigating climate change. This suggests that the private sector does not have a visible presence in the fight against climate change, thereby presenting the private sector with an opportunity to support the decentralisation of the just energy transition. These efforts can also form part of attempts by the private sector to mainstream Environmental, Social, and Corporate Governance (ESG) best practices.
Topic:: Climate Change, Governance, Economy, Carbon Emissions, and Energy Transition
Political Geography:: Africa and South Africa

5. Iceland: Basic data

Publication Date:: 10-2023
Content Type:: Country Data and Maps
Institution:: Economist Intelligence Unit
Abstract:: No abstract is available.
Topic:: Summary, Basic Data, Economy, and Background
Political Geography:: Iceland

6. Eswatini: Basic data

Publication Date:: 01-2023
Content Type:: Country Data and Maps
Institution:: Economist Intelligence Unit
Abstract:: No abstract is available.
Topic:: Summary, Basic Data, Economy, and Background
Political Geography:: Swaziland

7. Eswatini: Country outlook

Publication Date:: 01-2023
Content Type:: Country Data and Maps
Institution:: Economist Intelligence Unit
Abstract:: No abstract is available.
Topic:: Economy, Outlook, Forecast, and Overview
Political Geography:: Swaziland

8. Things to watch in Croatia in 2023

Publication Date:: 01-2023
Content Type:: Country Data and Maps
Institution:: Economist Intelligence Unit
Abstract:: No abstract is available.
Topic:: Economy, Outlook, Forecast, and Country outlook
Political Geography:: Croatia

9. Economic Priorities in Post-war Ukraine

Author:: Dmytro Boyarchuk
Publication Date:: 02-2023
Content Type:: Special Report
Institution:: Center for Social and Economic Research - CASE
Abstract:: Ukraine has been a stellar example of a little reform going a long way. First invaded by Russia in 2014, the Ukraine of 2022 was a different country, with more resilience, more ability, and more depth. As it pushes to repel the Russian aggressor, it is never too early to think about how Ukraine can continue its reform process and become a state that is free of Russia, economically strong, and a model for policy reform. The ways in which Ukraine can attain this goal are contained in the economic roadmap, “Economic Priorities in Post-war Ukraine,” produced by Ukrainian experts and world-class policy advisors under CASE-Center for Social Research and CASE Ukraine and funded by agencies from around Europe and the United States. This report focuses on the essential reforms that will help Ukraine with the post-war reconstruction, as well as enable progress in its efforts on the way to EU membership. Over 30 years of independence, Ukraine has launched almost all of the necessary reforms to build and develop a market economy. In 2014, Ukraine signed the EU-Ukraine Association Agreement, and substantial progress has been demonstrated since then. However, the country fought against a legacy of start-stop reforms and inattention to major objectives such as building the rule of law and encouraging private sector competition. Before the full-scale Russian invasion, it had been making progress in institutional reforms but still had far to go. This report addresses many of the complex tasks that Ukraine needs to complete, with the main challenge being the rule of law, a problem lasting for three decades. Our team of experts propose specific mechanisms to make the transition to a country which respects the rule of law, including ways to improve the judiciary, respect property rights, and encourage private sector competition. The report also examines the question on how the Ukrainian government can attract funding and rebuild the country after the war is over, discussing ways in which the EU and the donor community can be involved. The eventual end of the war also provides Ukraine with a unique opportunity to leap ahead in the European integration process and to finish its institutional reforms. With Ukraine now a candidate for EU membership, the prospects of the integration process, the unprecedented support for integration with the EU in Ukrainian society and the continued support of the West, present Ukraine with a way forward and overcoming the obstacles that have delayed, stalled, or even caused the abandonment of reforms in the past.
Topic:: Development, Reform, Economy, Institutions, and Russia-Ukraine War
Political Geography:: Europe, Ukraine, and Eastern Europe

10. Earthquakes to hit Turkey’s budget and raise risks for lira

Publication Date:: 02-2023
Content Type:: Country Data and Maps
Institution:: Economist Intelligence Unit
Abstract:: No abstract is available.
Topic:: Economy, Outlook, Forecast, and Country outlook
Political Geography:: Turkey

11. Fossil Fuel Industry Phase-Out and Just Transition: Designing Policies to Protect Workers’ Living Standards

Author:: Robert Pollin
Publication Date:: 02-2023
Content Type:: Working Paper
Institution:: Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:: This paper focuses on just transition policies targeted at supporting workers now employed in the fossil fuel industries and ancillary sectors within high-income economies. As a general normative principle, I argue that the overarching aim of such policies should be to protect workers against major losses in their living standards resulting through the fossil fuel industry phase-out. The impacted workers should be provided with three critical guarantees to accomplish this, in the area of jobs, compensation and pensions. Just transition policies should also support workers in the areas of job search, retraining and relocation, but these forms of support should be understood as supplementary. Within the framework of these broad principles, the paper first reviews experiences with transitional policies in Germany, the UK, the EU and, more briefly, Japan and Canada. A critical point that emerges is that these just transition policies do not provide the needed guarantees for assuring workers that they will not experience major living standard declines. The paper then describe an illustrative just transition program for workers that includes reemployment, income and pension guarantees, focusing on a case study for the U.S. state of West Virginia. The results show that the costs of the just transition program for West Virginia’s fossil fuel industry dependent workers will amount to an annual average of about $42,000 per worker, equal to about 0.2 percent of West Virginia’s GDP. I briefly summarize results from the seven other studies of U.S. states and for the overall U.S. economy. For the U.S. economy overall, the just transition program’s costs would total to about 0.015 percent of GDP. These findings demonstrate that providing a generous just transition program does not entail unaffordable levels of public spending. Robust just transition policies should therefore be understood as an entirely realistic prospect for all high-income economies.
Topic:: Political Economy, Labor Issues, European Union, GDP, Economy, and Fossil Fuels
Political Geography:: Japan, United Kingdom, Europe, Canada, and Germany

12. The Cross-Border Interbank Payment System: A Case Study in Chinese Economic Leadership

Author:: Aidan Campbell
Publication Date:: 03-2023
Content Type:: Working Paper
Institution:: Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:: Investigations seeking to explain the rise of China rarely investigate the many new institutions founded to increase China’s economic success and influence over global affairs. In the economic sector, some better-known projects include the Belt and Road Initiative, the Asian Infrastructure Investment Bank, and the New Development Bank. One of the newest and least understood institutions founded to promote international use of the RMB is the Cross-Border Interbank Payment System (CIPS). The purpose of this research is to examine the development, policies, and goals of CIPS in order to better understand the phenomenon of Chinese-lead international economic institutions. Novel evidence for CIPS’s intention to adopt blockchain technology and provide services for currencies other than the RMB is presented. The conclusion to this research is that CIPS is presently too small to pose a threat to the existing SWIFT network or predominance of US dollar transactions in international trade. At the same time, CIPS evidences a patient and rational strategy designed to reform international norms and patterns of trade to China’s advantage in the long term.
Topic:: Political Economy, Leadership, Economy, Belt and Road Initiative (BRI), and Banking
Political Geography:: China and Asia