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1102. Vietnam: Basic data
- Publication Date:
- 04-2023
- Content Type:
- Country Data and Maps
- Institution:
- Economist Intelligence Unit
- Abstract:
- No abstract is available.
- Topic:
- Summary, Basic Data, Economy, and Background
- Political Geography:
- Viet Nam
1103. Vietnam: Economic structure
- Publication Date:
- 04-2023
- Content Type:
- Country Data and Maps
- Institution:
- Economist Intelligence Unit
- Abstract:
- No abstract is available.
- Topic:
- Economy, Economic structure, Charts and tables, and Monthly trends charts
- Political Geography:
- Viet Nam
1104. The Implementation of Sustainability Taxonomies: The Case of South Africa
- Author:
- Sören Hilbrich, Kathrin Berensmann, Giovanna Artmann, Sam Ashman, and Theresa Herbold
- Publication Date:
- 01-2023
- Content Type:
- Working Paper
- Institution:
- German Institute of Development and Sustainability (IDOS)
- Abstract:
- In recent years, many jurisdictions have developed sustainability taxonomies that aim to increase transparency of financial markets and redirect capital flows to sustainable investments. Such sustainable finance policies can be important levers because today’s investments shape economic production processes for decades. This case study on South Africa’s Green Finance Taxonomy (GFT) addresses the question of what factors influence the adoption of sustainability taxonomies by potential users. It finds that one year after its publication, the GFT has hardly been used in practice. Important factors hindering an effective implementation are a lack of regulatory embedding, the absence of a legal recognition of the GFT by the European Union (EU), a hesitancy among financial market participants to build capacities to collect the necessary data, and fossil-fuel path dependencies in South Africa’s economy. These findings have important policy implications (e.g. regarding accompanying governance measures) for implementation processes in many countries in the coming years.
- Topic:
- Development, Economy, Capital Flows, Investment, and Sustainability
- Political Geography:
- Africa and South Africa
1105. Measuring the intangible economy to address policy challenges
- Author:
- Marie Le Mouel
- Publication Date:
- 04-2022
- Content Type:
- Working Paper
- Institution:
- Bruegel
- Abstract:
- European economies exhibit the so-called ‘productivity puzzle, whereby investments’ in digital technologies and intangible assets have not delivered the hoped-for productivity gains. Explanations for this puzzle lie in the unequal ability of companies to make use of these technologies, and resulting patterns of market concentration, productivity divergence and dampened business dynamism. Access to firm-level data is essential to properly understand these rich dynamics. The purpose of the first work package of the MICROPROD project was to improve the firm-level data infrastructure, expand the measurement of intangible assets and enable cross-country analyses of these productivity trends. The MICROPROD researchers developed the Micro Data Infrastructure (MDI), a centralised platform that harmonises access to the firm-level data gathered by national statistical institutes. The data infrastructure developed through this work package offers valuable insights into the evolution of productivity across the European Union and into the effects of digitalisation and globalisation. It can thus generate important evidence for designing policies to support the European Commission’s policy objectives, especially for achieving the digital and green transitions. In addition, the research enabled by this data infrastructure and carried out within the context of MICROPROD can provide valuable lessons about the response of European economies to the COVID-19 pandemic and its aftermath.
- Topic:
- Infrastructure, European Union, Digital Economy, Economy, and COVID-19
- Political Geography:
- Europe and Global Focus
1106. Measuring macroeconomic uncertainty during the euro’s lifetime
- Author:
- Monika Grzegorczyk and Francesco Papadia
- Publication Date:
- 06-2022
- Content Type:
- Working Paper
- Institution:
- Bruegel
- Abstract:
- It is a cliché in official economic institutions’ publications and their leaders’ speeches to lament exceptional uncertainty. The complaint does, however, ring true currently. A solid empirical basis should be given to this view by properly measuring macroeconomic uncertainty. To measure macroeconomic uncertainty, we start from observable forecasts of macroeconomic variables, which are transformations of underlying economic conditions. By observing how forecasts change over time, we measure the flow of macroeconomic surprises. The more intense the flow of surprises, the greater uncertainty can be said to be. Greater differences among forecasts are also evidence of uncertainty. We draw out four indicators of macroeconomic uncertainty, measured over the lifetime of the euro: How the macroeconomic forecasts of a given institution for the same time period change over time; How the macroeconomic forecasts of a given institution deviate from realised outcomes; How the macroeconomic forecasts of different institutions deviate from one other; How dispersed the forecasts of different professionals are. We also measure whether the ‘stag-‘ or the ‘-flationary’ component is stronger in the overall stagflationary shock caused by the Russian invasion of Ukraine.
- Topic:
- Economy, Institutions, Macroeconomics, Uncertainty, and Euro
- Political Geography:
- Europe and Global Focus
1107. Mapping banking centres globally since 1970
- Author:
- Emmanuel Mourlon-Druol
- Publication Date:
- 07-2022
- Content Type:
- Working Paper
- Institution:
- Bruegel
- Abstract:
- Brexit and the rise of China as a leading international economic power have revived discussions about the geography of banking centres. This paper analyses the geographical evolution of banking centres since the 1970s, based on a database constructed from a ranking of the top banks in the world created by The Banker magazine, a UK-based monthly publication specialised in international financial affairs. We describe both how the database was created and the ways in which it can be used to inform policy on money and capital markets. We address why the data can be used to proxy the size of International Financial Centres (IFCs) and the methodological limitations it may present. We find that banking consolidations and the evolution of the legal framework are more central to the changing geography of banking centres than economic and financial crises. We also highlight that, despite major shifts in global economic power, leading banking centres are hard to replace.
- Topic:
- Economy, Brexit, History, Fiscal Policy, and Banking
- Political Geography:
- Global Focus
1108. COVID-19 in the European Union: health impacts and effects on economic activity
- Author:
- Leonardo Cadamuro, Scott Marcus, and Francesco Papadia
- Publication Date:
- 07-2022
- Content Type:
- Working Paper
- Institution:
- Bruegel
- Abstract:
- This paper quantitatively describes different aspects of the COVID-19 pandemics: new cases, hospitalisations, intensive-care admissions and deaths, while illustrating their changing relationships over time. It then assesses how the different variables have affected relevant sectoral and macroeconomic indicators. Finally, it concludes that, from an economic perspective, what matters when it comes to managing the pandemic is to prevent intensive-care admissions and deaths arising from COVID-19. The success of vaccination should be measured in terms of its ability to prevent the most serious consequences, rather than its ability to prevent infections and hospitalisations.
- Topic:
- Health, European Union, Economy, Macroeconomics, and COVID-19
- Political Geography:
- Global Focus
1109. The (Updated) Case for Free Trade
- Author:
- Scott Lincicome and Alfredo Carrillo Obregon
- Publication Date:
- 04-2022
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- The long‐standing bipartisan consensus in favor of free trade in the United States has unraveled as the nation’s commitment to the multilateral trading system is increasingly subordinated to inward‐looking ideological priorities. Like all forms of market competition, trade can be disruptive for some companies and workers, and various trade agreements may require updating to address both an increasingly authoritarian China and the 21st‐century global economy. Nevertheless, both the seen and unseen economic benefits that free trade has delivered to countless individuals, businesses, and communities in America are undeniable and irreplaceable. Furthermore, the lone alternative to free trade, protectionism, has repeatedly proven to impose high costs for minimal benefits. In short, the case for free trade is an economic no‐brainer.
- Topic:
- Geopolitics, Economy, Free Trade, and Protectionism
- Political Geography:
- North America and United States of America
1110. Opening Up Military Innovation: Effects of Bottom‐Up Reforms to U.S. Defense Research
- Author:
- Sabrina Howell, Jason Rathje, John Van Reenen, and Jun Wong
- Publication Date:
- 02-2022
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- The U.S. economy’s productivity growth has slowed down in recent decades. This slowdown appears due in part to declining innovation, especially among high‐growth new firms, making the design of innovation incentives particularly important. One overlooked but crucial decision a government or private‐sector research funder must consider is whether to take a centralized top‐down approach, tightly specifying the desired innovation, or a more open bottom‐up approach, giving more latitude to firms to define their research proposals. The bottom‐up approach may be useful if the research funder is uncertain about what opportunities exist. We compare these two strategies by studying a major reform to the Small Business Innovation Research (SBIR) program at the U.S. Air Force.
- Topic:
- Reform, Economy, Research, Innovation, Defense Industry, and Military
- Political Geography:
- North America and United States of America