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Belt and Road Economics: Opportunities and Risks of Transport Corridors

2019-06-18, World Bank

China proposed the Belt and Road Initiative in 2013 to improve connectivity and cooperation on a transcontinental scale. This study, by a team of World Bank Group economists led by Michele Ruta, analyzes the economics of the initiative. It assesses the connectivity gaps between economies along the initiative’s corridors, examines the costs and economic effects of the infrastructure improvements proposed under the initiative, and identifies complementary policy reforms and institutions that will support welfare maximization and mitigation of risks for participating economies.

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Turn Down the Heat : Confronting the New Climate Normal

2014-11-23, World Bank Group

This report focuses on the risks of climate change to development in Latin America and the Caribbean, the Middle East and North Africa, and parts of Europe and Central Asia. Building on earlier Turn Down the Heat reports, this new scientific analysis examines the likely impacts of present day (0.8°C), 2°C and 4°C warming above pre-industrial temperatures on agricultural production, water resources, ecosystem services, and coastal vulnerability for affected populations. Data show that dramatic climate changes, heat, and weather extremes are already impacting people, damaging crops and coastlines, and putting food, water, and energy security at risk. Across the three regions studied in this report, record-breaking temperatures are occurring more frequently, rainfall has increased in intensity in some places, while drought-prone regions are getting dryer. The poor and underprivileged, as well as the elderly and children, are found to be hit the hardest. There is growing evidence that even with very ambitious mitigation action, warming close to 1.5°C above pre-industrial levels by mid-century is already locked into the Earth’s atmospheric system, and climate change impacts such as extreme heat events may now be unavoidable. If the planet continues warming to 4°C, climatic conditions, heat, and other weather extremes considered highly unusual or unprecedented today would become the new climate normal—a world of increased risks and instability. The consequences for development would be severe as crop yields decline, water resources change, diseases move into new ranges, and sea levels rise. The task of promoting human development, ending poverty, increasing global prosperity, and reducing global inequality will be very challenging in a 2°C world, but in a 4°C world there is serious doubt whether this can be achieved at all. Immediate steps are needed to help countries adapt to the climate impacts being felt today and the unavoidable consequences of a rapidly warming world. The benefits of strong, early action on climate change -- action that follows clean, low carbon pathways and avoids locking in unsustainable growth strategies -- far outweigh the costs. Many of the worst projected climate impacts could still be avoided by holding warming to below 2°C. But the time to act is now.

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The Future of the Natural Gas Market in Southeast Europe

2010, World Bank

The Future of the Natural Gas Market in Southeast Europe analyzes the role of natural gas in the energy mix to meet future demand in nine markets in the region: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Kosovo, Macedonia, Montenegro, Romania, and Serbia. These markets are all signatories of the Athens Memoranda of 2002 and 2003, which commit the participants to regional cooperation in electricity and gas. Most countries heavily rely on solid fuels (such as wood and coal) or electricity (that is generated from thermal power) to meet domestic energy needs. Natural gas markets are underdeveloped or do not exist. This study identifies regional, cross-border, and country-specific gas infrastructure projects that are economically, financially, and technically sound. It makes proposals for the institutional and policy issues related to funding and implementing gas infrastructure projects. This study also examines sources of gas supply from Russia, the Caspian region, and other current and prospective producer countries through Turkey and other transit routes (including liquefied natural gas) and it assesses costs of supply and gasification prospects in Southeast Europe.

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Unleashing Prosperity : Productivity Growth in Eastern Europe and the Former Soviet Union

2008, Alam, Asad, Anós Casero, Paloma, Khan, Faruk, Udomsaph, Charles

The analysis presented in this report assembles, for the first time, evidence from a variety of sources in the countries of Eastern Europe and the former Soviet Union to show that policy and institutional reforms are important in achieving higher productivity growth. However, significant challenges remain in sustaining that growth. Many countries that started the reform process early, such as the new member states of the European Union, have come to resemble advanced market economies and face challenges in competing successfully in the global economy that are similar to the challenges faced by other European countries. For these new European Union members, the report argues, policies that facilitate innovation and firm expansion will be a key. But for other countries that started the reform process later, such as the countries of Southeastern Europe and the former Soviet Union, there is still a need to address the legacy of transition. For these countries, policies that accelerate restructuring and ease the entry and exit of firms will continue to be essential. This report - part of a series of regional studies of the World Bank's Europe and Central Asia region that has already covered poverty and inequality, the enhancement of job opportunities, trade and integration, migration and remittances, and the challenges posed by aging populations is intended as a contribution to the author thinking about how the World Bank may work more effectively with client states and other partners in the region to promote growth and foster higher living standards in a rapidly changing World.

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The World Bank Group A to Z 2016

2016, World Bank Group

Note: Information in this title reflected the institution at the time of publication and may be subject to change... The World Bank Group A to Z provides concise and essential information about the mission, policies, procedures, products, and services of the new World Bank Group. This second edition is a follow-up to the first volume released for the 2014 Annual Meetings. The World Bank Group A to Z series builds on previous editions of A Guide to the World Bank to include features not found in its predecessors including: a graphical introduction to the World Bank Group, highlighting the Bank Group’s goals, financials, regions, and results; examples and photos of Bank Group projects and programs; and tools to guide you to the information you are looking for (even if you don’t know exactly what that is). It also reflects the wide-ranging reforms that have taken place within the World Bank Group in recent years, including the launch of the new World Bank Group Strategy; new approaches to development; the establishment of new Global Practice Groups and Cross Cutting Solutions Areas; and the goal of becoming a “Solutions Bank,” one that will marshal the vast reserves of evidence and experiential knowledge across the five World Bank Group agencies and apply them to local problems. With more than 280 entries arranged in encyclopedic A-to-Z format, readers can easily find up-to-date information about the five agencies of the World Bank Group and the wide range of areas in which they work: from agriculture, education, energy, health, social protection and labor to gender, jobs, conflict, private sector development, trade, water and climate change. The World Bank Group’s work in all of these areas now focuses on two new twin goals: eliminating extreme poverty by 2030 and boosting shared prosperity of the poorest 40 percent in every developing country.

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Public-Private Partnerships in Europe and Central Asia : Designing Crisis-Resilient Strategies and Bankable Projects

2011-02-24, Cuttaree, Vickram, Mandri-Perrott, Cledan

This study aims to help governments design sustainable Public-Private Partnership (PPP) strategies and projects in the context of the changed circumstances brought on by the global financial and economic crisis that began in the fall of 2008. The study analyses the impact and implication of the crisis on PPP infrastructure projects across the Europe and Central Asia (ECA) region. In the research undertaken for this study, it appears that most crisis-specific issues are cross-sectoral, therefore requiring cross-sectoral responses. The intended audience for this report includes national government stakeholders involved in infrastructure financing, including Ministries in charge of infrastructure, especially transport, energy, and water; state-owned enterprises with operational responsibilities, such as road directorates; and Ministries of Finance and development banks involved in PPP. This report reviewed the region's experience in PPPs in infrastructure before and during the financial crisis period (from late 2006 to 2010). Since not all ECA countries have had successful or ongoing PPP projects during this time, the report draws on lessons from Brazil, India, Spain, and the United Kingdom, countries with established PPP project pipelines to draw on cross-sectoral lessons. The findings can be used by countries wishing to start or re-start their PPP program following the impact of the recent crisis. However, beyond the crisis and its effects, the report can also guide future development of sustainable and crisis-resilient PPP programs. Most of the analysis supporting the report recommendations was undertaken for the highway sector and was financed through from a grant from the transport research support program. Initially, the highway sector was the focus of this study but the scope was later widened to include all infrastructure sectors because most issues facing highway PPP projects are common to other sectors requiring a cross-sectoral approach to PPP. Sector-specific strategies for highways have been documented in a recent World Bank study.

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Economic Implications of Chronic Illness and Disability : In Eastern Europe and the Former Soviet Union

2008, Mete, Cem

This report aims to fill in the knowledge gap in this field by analyzing cross-country data on basic indicators, and by carrying out more detailed empirical analysis on causal relationships of interest, including the impact of disability on employment, wages, poverty, and children's school enrollments-focusing on four transition countries with household survey data sets that allow more elaborate econometric analyses. This report argues that it is timely to bring the economic costs of disability to the forefront of development policy because of the large impact poor health status and disabilities have on employment, poverty, children's schooling, and time spent in caring for disabled individuals, especially by adult females (which in turn inhibits higher female labor force participation prospectus). In recent years, there has been some recognition of the need to discuss disability issues in strategy documents such as poverty reduction strategy papers (PRSPs) and country assistance strategies (CASs). But in the absence of basic empirical evidence on the living conditions and behavior of disabled individuals, it is a challenge to formulate concrete steps to tackle this particular economic development problem.

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The World Bank Group A to Z

2015, World Bank Group

Note: Information in this title reflected the institution at the time of publication and may be subject to change... The World Bank Group (also known as the “Bank Group”) is the largest anti-poverty institution in the world, offering loans, advice, knowledge, and an array of customized resources to more than 100 developing countries and countries in transition. Established in 1944 and headquartered in Washington DC, the Bank Group is a specialized agency of the United Nations that is made up of 188 member countries. It works with country governments, the private sector, civil society organizations (CSOs), regional development banks, think tanks, and other international institutions on a range of issues—from climate change, conflict, and food crises to education, agriculture, finance, and trade—with the sole purpose of meeting two goals: ending extreme poverty by 2030 and boosting shared prosperity of the bottom 40 percent of the population in all developing countries. The World Bank Group A to Z provides ready-reference insight into the history, mission, organization, policies, financial services, and knowledge products of the institution’s five agencies. Each of the more than 200 entries are arranged in encyclopedic A-to-Z format and are extensively cross-referenced to related information in the book. This volume also has a detailed index, reference materials on World Bank Group country membership, organizational charts of the five agencies, and information about how to connect with or work for the institution. Building on previous editions of A Guide to the World Bank, The World Bank Group A to Z has been completely revised and updated to reflect the wide ranging reforms of recent years, including the new World Bank Group Strategy; new approaches to development assistance; the establishment of new Global Practice Groups and Cross Cutting Solutions Areas; and the goal of becoming a “Solutions Bank”, one that will marshal the vast reserves of evidence and experiential knowledge across the five World Bank Group agencies and apply them to local problems. An indispensable guide for anyone interested in understanding what the World Bank Group does and how it does it, this book shows readers who want to learn more where to begin.

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The Crisis Hits Home : Stress-Testing Households in Europe and Central Asia

2010, Tiongson, Erwin R., Sugawara, Naotaka, Sulla, Victor, Taylor, Ashley, Gueorguieva, Anna I., Levin, Victoria, Subbarao, Kalanidhi

The Europe and Central Asia (ECA) region has been hit by a crisis on multiple fronts. Countries in ECA are facing major, interrelated, external macro-financial shocks. The first is the global growth slowdown leading to falling export market demand. In addition, the prospects for inflows of remittances to low-income countries have been downgraded as economic activity in migrant host countries has declined. The second is the financial deleveraging by major banks and other financial institutions in developed economies, which has markedly reduced the availability, and increased the cost, of external finance across public, corporate, and financial sectors. The third is the recent commodity price changes, which have involved a reversal of much of the commodity price boom of 2007 and 2008. The main objective of the study is to understand the impact of these macroeconomic shocks on household well-being. In particular, it seeks to understand the key macroeconomic shocks confronted by the region and the impact of such shocks on household welfare, including the effect on household income flows, consumption levels, and liabilities. It will also assess possible strategies to cope with the crisis and manage the adverse social impact.

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Integrating Environment into Agriculture and Forestry : Progress and Prospects in Eastern Europe and Central Asia

2008, Sutton, William R., Whitford, Peter, Montanari Stephens, Emanuela, Pedroso Galinato, Suzette, Nevel, Bonnie, Plonka, Beata, Karamete, Ebru

This study reviews how the integration of environmental concerns into agriculture and forestry is progressing in the countries of Southeastern Europe (SEE) and of Eastern Europe, Caucasus, and Central Asia (EECCA) since 2000 and assesses prospects for the future. The present report is a contribution to the environment for Europe process. At the Fifth Ministerial Conference in Kiev in 2003, participants decided to pay greater attention to the needs of the EECCA and adopted an environmental strategy for the sub-region. The commitments made under that strategy are taken as benchmarks against which progress is assessed, recommendations made, and emerging environmental priorities reviewed. This report also includes an assessment of SEE countries and territories. The analysis provided here is intended primarily to inform discussions during and after the sixth environment for Europe Ministerial Conference, to be held in Belgrade in October 2007. The main text of this report provides a synthesis of major regional issues and trends, with broad recommendations for future directions and priorities. The annexes provide a wealth of data along with detailed country reviews for the 22 countries and territories studied.