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This edition of the World Economic Outlook explores how a dramatic escalation of the financial crisis in September 2008 provoked an unprecedented contraction of activity and trade, despite active policy responses. It presents economic projections for 2009 and 2010, and also looks beyond the current crisis, considering factors that will shape the landscape of the global economy over the medium term, as businesses and households seek to repair the damage. The analysis also outlines the difficult policy challenges presented by the overwhelming imperative to take all steps necessary to restore financial stability and revive the global economy, and the longer-run need for national actions to be mutually supporting. The first of two analytical chapters, "What Kind of Economic Recovery?" explores the shape of the eventual recovery. The second, "The Transmission of Financial Stress from Advanced to Emerging and Developing Economies," focuses on the role of external financial linkages and financial stress in transmitting economic shocks.
"The World Sustainable Development Outlook series has been developed to provide an overview of sustainable development, to discuss why it is important and to provoke forward thinking on the development of a more coherent approach to solving global problems related to sustainability through science and technology. In doing so, a holistic approach is used to critically examine the interrelationship between the natural, governmental, economic and social dimensions of our world and how science and technology can contribute to solutions. This is a truly global source book, which is reflected in the varied national and cultural origins of the contributors, as well as the topics and case studies covered. Each year a different theme will be covered.World Sustainable Outlook 2009 explores global viewpoints and the latest thinking about the ways in which the recent global financial crisis may affect achieving sustainable development particularly in developing countries with an in-depth focus on deteriorating environmental conditions, energy, obesity and climate change.This book is divided into eight main sections, namely: Accounting, economics and finance; Risk management; Business management and sustainability; Environment management and development; Transport studies and management; Public health and management; Knowledge management and education; Information and communication technologies.This volume presents a selection of the best papers from the Seventh International Conference of World Association for Sustainable Development (WASD) jointly organized with Ahlia University held in Manama, Kingdom of Bahrain from 9th-11th November 2009.It is hoped that this book will help to stimulate debate amongst scholars, researchers and policy-makers."--Provided by publisher.
The Asian model of export-led growth served it well in the post-war period, but prolonged sluggish growth of the developed economies following the global financial crisis, together with growing inequality and rising environmental problems, point to the need for a new growth model. The purpose of this book is to describe the challenges facing Asian economies in the post-global financial crisis environment and to identify structural issues and policies that can help guide Asian policymakers to expand the growth potential of domestic and regional demand in coming years, and thereby create a basis for balanced, sustainable, and inclusive long-term growth. These issues and policies span a variety of dimensions, including macroeconomic policy (monetary, fiscal, and foreign currency management), real sector issues (trade and industrial structure), infrastructure development, labor market and social policy, financial sector reform and regulation, and regional cooperation and architecture. Key recommendations to achieve these goals include measures to: deepen social protection to support social resilience; increase infrastructure investment to create a “seamless Asia”; enhance productivity in the services sector; establish a region-wide free trade agreement to encourage intraregional trade in goods and services and investment through economies of scale and dynamic efficiency of a larger market; promote a shift to a low-carbon society and support green growth; and deepen and integrate financial markets to facilitate the recycling of Asia’s high savings for investment within the region.
Inclusive Green Growth: The Pathway to Sustainable Development makes the case that greening growth is necessary, efficient, and affordable. Yet spurring growth without ensuring equity will thwart efforts to reduce poverty and improve access to health, education, and infrastructure services.
This year marks the tenth anniversary of the 2009 global recession. Most emerging market and developing economies weathered the global recession relatively well, in part by using the sizable fiscal and monetary policy ammunition accumulated during prior years of strong growth. However, their growth prospects have weakened since then, and many now have less policy space. This study provides the first comprehensive stocktaking of the past decade from the perspective of emerging market and developing economies. Many of these economies have now become more vulnerable to economic shocks. The study discusses lessons from the global recession and policy options for these economies to strengthen growth and prepare for the possibility of another global downturn.
Outlook 2009 explores global viewpoints and the latest thinking about the ways in which the recent global financial crisis may affect achieving sustainable development particularly in developing countries with an in-depth focus on deteriorating environmental conditions, energy, obesity and climate change. This book is divided into eight main sections, namely: Accounting, Economics and Finance; Risk Management; Business Management and Sustainability; Environment Management and Development; Transport Studies and Management; Public Health and Management; Knowledge Management and Education; and Information and Communication Technologies. This volume represents a selection of the best papers from the 7th International Conference of World Association for Sustainable Development (WASD) jointly organized with Ahlia University held in Manama, Kingdom of Bahrain, 9-11 November 2009. It is our hope that this book will help stimulate debate amongst scholars, researchers and policy-makers.
It is widely accepted that limiting climate change to 2°C will require substantial and sustained investments in low-carbon technologies and infrastructure. However, the dominance of market fundamentalism in economic thinking for the past three decades has meant that governments have generally viewed large spending programs as politically undesirable. In this context, the Global Financial Crisis (GFC) represented a huge opportunity for proponents of public investment in environmental projects or "Green Keynesianism". This book examines the experience of Australia, Canada, Japan, Korea, and the United States with Green Keynesian stimulus programs in the wake of the GFC. Unfortunately, on the whole, the cases do not provide much optimism for proponents of Green Keynesianism. Much less funding than was originally allocated to green programs was actually spent in areas that would produce an environmental benefit. Furthermore, a number of projects had negligible or even detrimental environmental outcomes. While the book also documents several success stories, the research indicates overall that more careful consideration of the design of green stimulus programs is needed. In addition to concrete policy advice, the book provides a broader vision for how governments could use Keynesian policies to work toward creating an "ecological state". This book will be of great interest to students and scholars of environmental politics, environmental economics, political economy, and sustainable development.
Ending poverty and stabilizing climate change will be two unprecedented global achievements and two major steps toward sustainable development. But the two objectives cannot be considered in isolation: they need to be jointly tackled through an integrated strategy. This report brings together those two objectives and explores how they can more easily be achieved if considered together. It examines the potential impact of climate change and climate policies on poverty reduction. It also provides guidance on how to create a “win-win†? situation so that climate change policies contribute to poverty reduction and poverty-reduction policies contribute to climate change mitigation and resilience building. The key finding of the report is that climate change represents a significant obstacle to the sustained eradication of poverty, but future impacts on poverty are determined by policy choices: rapid, inclusive, and climate-informed development can prevent most short-term impacts whereas immediate pro-poor, emissions-reduction policies can drastically limit long-term ones.