Miscellaneous Knowledge Notes
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Publication
Philippines Monthly Economic Developments, August 2023
(Washington, DC: World Bank, 2023-08-22)Gross domestic product (GDP) growth moderated to 4.3 percent in Q2 2023 owing to a slowdown in domestic and external demand. Manufacturing and services continued to weaken in June, although leading indicators suggest a stronger expansion in July. External demand for goods exports softened in June amid slowing global activity, while soft domestic demand led to a contraction in goods imports. The fiscal deficit narrowed in Q2 2023, as public spending declined due to ongoing fiscal consolidation and delays in budget execution. Labor market conditions remained strong, despite an uptick in unemployment and underemployment. -
Publication
Assessment and Options Analysis of Climate and Nature Financing Instruments and Opportunities: Summary Note on Financing for Climate and Nature
(Washington, DC: World Bank, 2023-08-17)Despite increasing recognition of the material impact of nature degradation, the global financing gap for climate and nature investments is significant and growing. The Paulson Institute estimated in 2020 that the biodiversity financing gap at an average of US$711 billion per year. Government leaders and private enterprises must accelerate and scale financial resource mobilization strategies to close this gap. However, at a national level, many developing countries have limited market access and lack the fiscal space to mobilize financing at the scale required to avoid the severe negative impacts of biodiversity loss, nature degradation, and reduced ecosystem services. This can precipitate countries into a vicious circle, whereby delayed investment at scale exposes them to the risk of ecosystems collapse. These systems also provide essential climate benefits in terms of carbon sinks and adaptation buffers against severe climate impacts (e.g., floods, droughts, storms). These natural assets underpin economic growth of developing countries but are currently undervalued and underinvested. Given the difficulty of estimating the timing, progression, and extent of these impacts and their global public good (GPG) nature, other more immediate or visible needs tend to be prioritized. However, when nature-related risks materialize, economic activity is likely to contract, further reducing fiscal space, increasing a country’s borrowing costs, and delaying investments. -
Publication
Supporting Artisanal and Small-scale Mining Communities During the COVID-19 Pandemic
(Washington, DC: World Bank, 2023-08-01)In 2020, the World Bank projected that the Coronavirus (COVID-19) pandemic could push more than hundred million people into extreme poverty. The estimated forty-five million people around the world working in artisanal and small-scale mining (ASM) were particularly vulnerable because of the informal, often precarious nature of their working conditions and lack of access to social safety nets. At the height of the initial lockdown, as mineral prices dropped and mining sites closed, artisanal and small-scale miners, their families, and their communities suffered large declines in income and rising food insecurity. Without intervention, they were at risk of sliding into poverty. At the same time, there was concern that gains made over several decades to formalize the sector would be eroded, particularly where community tensions were rising. To address these risks, the World Bank took early action. In May 2020, the extractives global programmatic support (EGPS) trust fund initiated a rapid global survey to identify miners’ needs and then used the results to mobilize an emergency response window that raised 6.6 million in support to ASM communities in 22 countries. This report describes the EGPS emergency response window for ASM Communities Impacted by COVID-19, what it achieved, and what the World Bank has identified as priority areas for action in ASM communities going forward. -
Publication
The West Africa Unique Identification for Regional Integration and Inclusion (WURI) Program: Unique Identifiers to Enable Access to Human Development Services
(Washington, DC: World Bank, 2023-07-31)Access to basic human development programs in West Africa is particularly low. Individually, the sub-region’s countries perform poorly on the Human Capital Index (HCI). It is the second-lowest African region in rank for social safety net coverage. By contrast, the subregion has the second highest transaction value of mobile money on the continent. This case study examines the West Africa Unique Identification for Regional Integration and Inclusion (WURI) Program, which aims to confront this challenge head-on. In 2022, the program was working in six countries across two phases in partnership with the governments, and with the ECOWAS Commission. -
Publication
Monitoring Impacts of COVID-19 and Other Shocks, Round 12, Feb-Mar 2023
(Washington, DC: World Bank, 2023-07-28)In June 2020, the Uganda Bureau of Statistics (UBOS), in collaboration with the World Bank, officially launched the Uganda High Frequency Phone Survey (UHFPS) to track the impacts of the COVID-19 pandemic on a regular basis. In June 2022, the scope of the survey was expanded to monitor economic sentiments and the socioeconomic impact of other shocks such as the Russia-Ukraine war, Ebola outbreak and extreme weather events. In addition, the survey is being used to collect perceptions on different development policies and programs. The survey aimed to recontact the entire sample of households that had been interviewed during the Uganda National Panel Survey (UNPS) 2019/20 round and that had phone numbers for at least one household member or a reference individual. This brief presents findings from the most recent round (12th) of the UHFPS, conducted in February-March 2023. -
Publication
Protecting Workers, Firms, and Worker-Firm Attachment During COVID-19: Economic Considerations for the Assessment of Policy Measures
(Washington, DC: World Bank, 2023-07-26)Governments around the world provided various types of support to businesses and their employees affected by the by the COVID-19 pandemic, to preserve employer-employee links, organizational knowledge, and firm-specific human capital, and to facilitate the economic recovery. This note complements efforts dedicated to document jobs-related policy responses by providing an overview of some of the basic economic considerations for the design and assessment of these policy measures, with special attention to emerging economies. The authors outline a simple framework for policy assessment that accounts for the mechanisms that transmit COVID-19 shocks through the economy and the implications of the larger informal sector and fiscal constraints shared by many emerging economies. The authors then apply this framework to analyze an array of policies that have been deployed to prevent and address business failures and job losses in sectors directly or indirectly affected by the pandemic. -
Publication
Thailand Monthly Economic Monitor, July 2023
(Washington, DC: World Bank, 2023-07-24)The economy maintained moderate expansion, driven by private consumption and tourism. Declining inflation alleviated pressure on living costs and supported private consumption. However, goods exports as well as manufacturing production and investment contracted due to weak external demand. Public debt remained stable;a decrease in budget deficit financing was offset by increased borrowing to support the State Oil Fund. In June, the Thai baht depreciated compared to major ASEAN currencies, primarily due to an all-year high current account deficit. -
Publication
Protecting Human Capital from the Impact of Early Life Shocks : Key Interventions for Lower-Middle-Income Countries
(Washington, DC: World Bank, 2023-07-06)This policy note presents strong evidence of the impacts of early childhood exposure to shocks on later life human capital outcomes in lower-middle-income countries, particularly in the Sahel region. It recommends key, evidence-based social protection interventions to mitigate these impacts and protect human capital as follows : cash transfers to improve child nutritional outcomes, particularly when combined with behavior change communication on water, sanitation and hygiene and hygiene practices; conditional cash transfers to increase educational outcomes, especially when monitored and reinforced; contributory schemes to mitigate the impact of shocks on asset loss and household expenditure, particularly health, livestock, and climate insurance schemes; food distribution interventions to mitigate the impact of shocks on nutritional and educational outcomes, particularly for children under–five, which is a critical period for growth and development; behavioral interventions to positively influence health and educational behavior and spending, especially nutrition education, academic nudges, and maternal psychotherapy interventions; and the success of these interventions requires context- and population-appropriate program design and implementation to maximize their effects on protecting human capital. -
Publication
Ukraine - Human Development Update, February 2023
(Washington, DC, 2023-04-10)The full-scale invasion of Ukraine on February 24, 2022, has resulted in tens of thousands of civilian casualties, internal displacement of millions of people, widespread destruction of infrastructure, and disruption of services that are essential to human capital formation and protection. This Ukraine Human Development Update summarizes the cumulative effects of the war, highlights recent government responses, and provides an overview of World Bank support. -
Publication
What do We Know About Interventions to Increase Women’s Economic Participation and Empowerment in South Asia?: Financial Products
(World Bank, Washington, DC, 2023-04-07)The World Bank’s South Asia Region Gender Innovation Lab (SARGIL) is conducting a systematic review and meta-analysis of interventions with direct or indirect effects on measures of women’s economic empowerment. The review focuses on changes in labor market outcomes, income, and other empowerment indicators. The goal is to document what has and has not worked for women in the region (covering all countries: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka), understand the types of interventions implemented, and identify gaps in knowledge and action. Interventions are organized into five categories: Skills, Assets, Financial Products, Care, and Empowerment. This brief summarizes the main findings from the financial products category.