Subdued Potential Growth: Sources and Remedies

Çelik, Sinem Kılıç; Köse, M. Ayhan; Ohnsorge, Franziska

doi:10.2139/ssrn.3555531

Cited by 6 publications

(5 citation statements)

References 39 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…It is also very close to the point estimate of the semi-elasticity of GHG emissions to carbon taxes reported by Kanzig and Konradt (Känzig and Konradt, 2023[41]) (impulse response after four years using the control-based approach).…”

supporting

confidence: 86%

Long-term scenarios: incorporating the energy transition

2023

OECD Economic Policy Papers

View full text Add to dashboard Cite

© OECD 2023The OECD Economic Policy Paper Series is published on the responsibility of the Secretary-General of the OECD. The opinions expressed and arguments employed herein do not necessarily reflect the official views of the Organisation or of the governments of its member countries. Series: OECD Economic Policy Papers SSN 2226583XThe statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use of such data by the OECD is without prejudice to the status of the Golan Heights, East Jerusalem and Israeli settlements in the West Bank under the terms of international law.This document and any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area.

show abstract

supporting

confidence: 86%

Long-term scenarios: incorporating the energy transition

2023

OECD Economic Policy Papers

View full text Add to dashboard Cite

show abstract

“…The coronavirus disease (COVID-19) struck at the time the world was on a weak growth pedestal. Indeed, since the 2009 global financial meltdown, the recovery of the world economy towards a resilient growth trajectory is yet to be realized (Kilic Celik et al 2020;Kose and Ohnsorge 2019). For instance, in 2019, the global economy realised a growth rate of 1.9 per cent before slumping into a record 4.4 per cent contraction in 2020 (IMF 2020a).…”

Section: Introductionmentioning

confidence: 99%

Towards the reversal of poverty and income inequality setbacks due to COVID-19: the role of globalisation and resource allocation

Ofori¹,

Armah²,

Asmah³

2022

International Review of Applied Economics

View full text Add to dashboard Cite

Policy recommendations for building resilient and all-inclusive societies post COVID-19 pandemic continue to dominate the media and research landscapes. However, rigorous empirical content backing such claims, particularly, on both poverty and income inequality, is hard to find. Motivated by the bleak outlook of the Middle East and North Africa (MENA) region, as driven primarily by the floundering hydrocarbon sector, vulnerable employment, and low foreign direct investment, we analyse the poverty and income inequality effects of globalisation and resource allocation in the region. Using data from the World Bank's Poverty and Equity Database for the period 1990-2019, we provide estimates robust to several econometric techniques the pooled least square, fixed effect, random effect, and the system generalized method of moments estimators to show that: (1) while economic globalisation reduces both poverty and income inequality, social globalisation matters only for income inequality in MENA; (2) economic globalisation is remarkable in reducing income inequality through resource allocation. Policy recommendations are provided in the light of the geopolitical fragility and rise in social globalisation of the region.

show abstract

“…Prolonged periods of debt restructuring were associated with a lost decade of growth in Latin America and, in LICs, negative per capita income growth over several years. The COVID-19 pandemic is likely to deepen and prolong a slowdown in output, productivity, and investment growth that has been underway for a decade (Dieppe 2020;Kilic Celik, Kose, and Ohnsorge 2020). Weak growth will likely further increase debt burdens and erode borrowers' ability to service debt.…”

Section: Consequences Of Inaction: Risks Associated With Elevated Debt Levelsmentioning

confidence: 99%

What has been the Impact of COVID-19 on Debt? Turning a Wave into a Tsunami

Köse¹,

Nagle²,

Ohnsorge³

et al. 2021

Policy Research Working Papers

Self Cite

View full text Add to dashboard Cite

This paper presents a comprehensive analysis of the impact of COVID-19 on debt, puts recent debt developments and prospects in historical context, and analyzes new policy challenges associated with debt resolution. The paper reports three main results. First, even before the pandemic, a rapid buildup of debt in emerging market and developing economies-dubbed the "fourth wave" of debt-had been underway. Because of the sharp increase in debt during the pandemic-induced global recession of 2020, the fourth wave of debt has turned into a tsunami and become even more dangerous. Second, five years after past global recessions, global government debt continued to increase. In light of this historical record, and given large financing gaps and significant investment needs in many countries, debt levels will likely continue to rise in the near future. Third, debt resolution has become more complicated because of a highly fragmented creditor base, a lack of transparency in debt reporting, and a legacy stock of government debt without collective action clauses. National policy makers and the global community need to act rapidly and forcefully ensure that the fourth wave does not end with a string of debt crises in emerging market and developing economies as earlier debt waves did.

show abstract

Subdued Potential Growth: Sources and Remedies

Cited by 6 publications

References 39 publications

Long-term scenarios: incorporating the energy transition

Long-term scenarios: incorporating the energy transition

Towards the reversal of poverty and income inequality setbacks due to COVID-19: the role of globalisation and resource allocation

What has been the Impact of COVID-19 on Debt? Turning a Wave into a Tsunami

Contact Info

Product

Resources

About