Publication:
Implications of Major Adverse Events on Productivity

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dc.contributor.authorDieppe, Alistair
dc.contributor.authorKilic Celik, Sinem
dc.contributor.authorOkou, Cedric
dc.date.accessioned2020-09-24T20:56:06Z
dc.date.available2020-09-24T20:56:06Z
dc.date.issued2020-09
dc.description.abstractSince 2000, there have been three major global slowdowns, with the latest and most pronounced episode triggered by the COVID-19 pandemic. At the same time, many countries have faced major adverse events including natural disasters, wars, and financial crises, all of which can lead to long-lasting harm to productivity. Wars inflict particularly severe damage to productivity, while financial crises also lead to substantial losses, especially accompanied by a rapid build-up of debt. The greater frequency of natural disasters, especially climate disasters, means that they have the largest aggregate impact on productivity, as natural disasters have occurred most often and their frequency has doubled since 2000. Global adverse events can have large sustained negative effects on productivity through dislocating labor, tightening of credit, disrupting value chains, and decreasing innovation. Policies to counter the negative consequences of adverse shocks include accommodative fiscal policies, such as reconstruction spending on resilient infrastructure; transparent governance; efficient use of relief funds; as well as growth-friendly structural reforms. Appropriate policies and regulations concerning finance, construction, and environmental protection can help reduce the frequency of adverse shocks.en
dc.identifierhttp://documents.worldbank.org/curated/en/706191600779573582/Implications-of-Major-Adverse-Events-on-Productivity
dc.identifier.doi10.1596/1813-9450-9411
dc.identifier.urihttps://hdl.handle.net/10986/34509
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 9411
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectPRODUCTIVITY
dc.subjectLOCAL PROJECTIONS
dc.subjectDISASTER
dc.subjectGLOBAL SLOWDOWN
dc.subjectPANDEMIC IMPACT
dc.subjectCOVID-19
dc.subjectCORONAVIRUS
dc.subjectCLIMATE DISASTER
dc.subjectNATURAL DISASTER
dc.subjectLABOR DISLOCATION
dc.subjectTIGHT CREDIT
dc.subjectVALUE CHAIN
dc.subjectINNOVATION
dc.subjectECONOMIC SHOCK
dc.subjectFISCAL POLICY
dc.subjectRESILIENT INFRASTRUCTURE
dc.subjectGOVERNANCE
dc.titleImplications of Major Adverse Events on Productivityen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crossref.titleImplications of Major Adverse Events on Productivity
okr.date.disclosure2020-09-22
okr.doctypePublications & Research
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://documents.worldbank.org/curated/en/706191600779573582/Implications-of-Major-Adverse-Events-on-Productivity
okr.guid706191600779573582
okr.identifier.doi10.1596/1813-9450-9411
okr.identifier.externaldocumentum090224b087df2cee_1_0
okr.identifier.internaldocumentum32424569
okr.identifier.reportWPS9411
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/706191600779573582/pdf/Implications-of-Major-Adverse-Events-on-Productivity.pdfen
okr.statistics.combined1991
okr.statistics.dr706191600779573582
okr.statistics.drstats1089
okr.topicConflict and Development::Disaster Management
okr.topicEnvironment::Natural Disasters
okr.topicMacroeconomics and Economic Growth::Economic Conditions and Volatility
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicMacroeconomics and Economic Growth::Fiscal & Monetary Policy
okr.topicMacroeconomics and Economic Growth::Macroeconomic Management
okr.unitProspects Group
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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