Miscellaneous Knowledge Notes
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Publication
Vietnam Macro Monitoring
(World Bank, Washington, DC, 2023-09-27)This brief discusses the economic development of Vietnam for August 2023. While the export slump may have bottomed out, and domestic consumption remained resilient, credit growth continued to be slow, reflecting weak private domestic investment and investors’ confidence. Recent upward movements in global energy prices warrants close monitoring of CPI inflation. This may also prevent SBV from loosening monetary policy further. The continuation of tight global financial conditions warrants flexible FX management to accommodate external conditions. Further acceleration of public investment disbursement could support aggregate demand and economic growth in the short run while focusing on priority green and resilient infrastructure and human capital investments will help bolster long term economic development. -
Publication
Gender and Digital Development in Thailand
(World Bank, Washington, DC, 2023-09-26)The wave of digital transformation has swept across the globe, with its pace significantly accelerated by the COVID-19 pandemic, which expedited the adoption of digital technologies by several years. However, this rapid digital metamorphosis is not without the risk of escalating gender inequality. The digital divide, defined as "the distinction between those who have access to and can utilize digital communication services and those who are excluded from these services", exhibits a gendered aspect. This gender digital divide reflects the inequalities between men and women in terms of access to and usage of digital technology. This document offers an overview of the gender equality issues in digital development in Thailand, drawing on a literature review, initial findings from research conducted in Odon Thani province in 2022, and findings and recommendations from the 2023 Adult Skills Assessment in Thailand (ASAT). -
Publication
Gender and Informal Work in Thailand
(World Bank, Washington, DC, 2023-09-26)Thailand has made good progress in closing gender gaps in various dimensions, especially human capital development. However, the progress, though obvious, has not done much to get rid of the main deterrents discouraging Thai women from participating more actively in the labor market. Thailand’s labor force participation rate (LFPR) is 94 percent for men and 80.5 percent for women; both have been relatively stable since 2017. More than half of jobs in Thailand are considered informal, but though “informal worker” is in general use throughout the economy, what it refers to has no precise definition. The gender and informality study by the World Bank Bangkok team led to the recommendations covered in this report. -
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
Thailand Monthly Economic Monitor: 21 March 2023
(Washington, DC, 2023-03-21)The economy resumed moderate expansion as private consumption and tourism improved at the beginning of 2023, after a disappointing Q4 outturn. However, lingering soft global demand continued to weigh on goods exports, manufacturing, and private investment. Inflation slowed amid easing global energy prices but remained above the Bank of Thailand’s target range of 1-3 percent. As a result, authorities extended energy-related subsidies while maintaining monetary policy normalization. The Thai baht depreciated the most among major ASEAN currencies in February as the current account turned deficit due to slowing export of goods while substantial portfolio flows exited the equity and bond markets. -
Publication
Thailand Monthly Economic Monitor: February 2023
(World Bank, Washington, DC, 2023-03-14)Growth decelerated more than expected to 1.4 percent in Q4 2022 amid the global economic slowdown. Goods trade contracted while manufacturing production and investment weakened. However, robust private consumption and tourism recovery continued to strengthen the outlook. Headline inflation declined but the second-round impact on domestic prices remained. This prompted the Bank of Thailand to continue monetary policy normalization and the government to extend energy-related subsidies. The current account balance returned to surplus in Q4 2022 on the back of substantially improved tourism receipts, supporting the Thai baht. -
Publication
Drivers of Public Debt in East Asia and Pacific Economies
(World Bank, Washington, DC, 2022-12-16)Public debt in developing East Asia and Pacific (EAP) economies has increased markedly since the recession in 2020 induced by COVID-19 pandemic. This brief uses standard debt dynamic accounting decomposition to quantify the main drivers of debt accumulation in developing EAP countries since 2000. In the aftermath of the COVID-19 pandemic, larger primary deficits have been the main drivers of the increase in the ratio of public debt to GDP in most developing EAP economies. While strong GDP growth and, to a certain extent, inflation have helped deflate public-debt-to-GDP ratios during the past two decades, they have, on average, been more muted since the COVID-19 shock. -
Publication
Public Services & COVID-19 – Reflections from the Pacific: Adaptable System Settings
(Washington, DC, 2022-12)The purpose of this note is to identify good practice in public sector management drawn from Pacific Island public service experiences of navigating the COVID-19 pandemic. These experiences were brought together through a World Bank engagement with Pacific Island countries in 2021 and 2022. The engagement identified five core aspects of Pacific Island public service management in response to COVID-19: trust, preparation, adaptable system settings, adaptable operating models, and sustainable wage bills. This first note in the series of five focuses on the importance of trust. The primary audience is public service leaders in Pacific Islands. The note will also be of interest to anyone working on designing and leading public sector management systems through rapid change, uncertainty and crises. -
Publication
Public Services and COVID-19 - Reflections from the Pacific: Sustainable Wage Bills
(Washington, DC, 2022-12)The purpose of this note is to identify good practice in public sector management drawn from Pacific Island public service experiences of navigating the COVID-19 pandemic. These experiences were brought together through a World Bank engagement with Pacific Island countries in 2021 and 2022. The engagement identified five core aspects of Pacific Island public service management in response to COVID-19: trust, preparation, adaptable system settings, adaptable operating models, and sustainable wage bills. This first note in the series of five focuses on the importance of trust. The primary audience is public service leaders in Pacific Islands. The note will also be of interest to anyone working on designing and leading public sector management systems through rapid change, uncertainty and crises. -
Publication
Public Services and COVID-19 - Reflections from the Pacific: Preparation
(Washington, DC, 2022-12)The purpose of this note is to identify good practice in public sector management drawn from Pacific Island public service experiences of navigating the COVID-19 pandemic. These experiences were brought together through a World Bank engagement with Pacific Island countries in 2021 and 2022. The engagement identified five core aspects of Pacific Island public service management in response to COVID-19: trust, preparation, adaptable system settings, adaptable operating models, and sustainable wage bills. This first note in the series of five focuses on the importance of trust. The primary audience is public service leaders in Pacific Islands. The note will also be of interest to anyone working on designing and leading public sector management systems through rapid change, uncertainty and crises.