Download or read book Natural Disasters and Scarring Effects written by Weicheng Lian and published by International Monetary Fund. This book was released on 2022-12-16 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses a novel empirical approach, following the literature on hysteresis, to explore medium-term scarring of natural disasters for countries vulnerable to climate change. By quantifying the dynamic effects of natural disasters on real GDP per capita for a large number of episodes using a synthetic control approach (SCA) and focusing on severe shocks, we demonstrate that a persistently large deviation of real GDP per capita from the counterfacutal trend exists five years after a severe shock in many countries. The findings highlight the importance and urgency of building ex-ante resilience to avoid scarring effects for countries prone to natural disasters, such as those in the Caribbean region.
Download or read book Why Some Don t Belong The Distributional Effects of Natural Disasters written by Mrs. Nina Budina and published by International Monetary Fund. This book was released on 2023-01-06 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: When and how do natural disasters worsen within-country income inequality? We highlight the channels through which natural disasters may have distributional effects and empirically analyze when and which type of disasters affect inequality in advanced economies (AEs) and in emerging and developing economies (EMDEs). We find that in AEs inequality increases after severe disasters. We also find that inequality increases if severe disasters are associated with growth slowdowns or there are multiple disasters in a year in AEs and in EMDEs. Descriptive evidence for the US also suggests that adverse labor market effects of disasters are likely to fall on vulnerable groups.
Download or read book Preparing for the Psychological Consequences of Terrorism written by Institute of Medicine and published by National Academies Press. This book was released on 2003-08-26 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Oklahoma City bombing, intentional crashing of airliners on September 11, 2001, and anthrax attacks in the fall of 2001 have made Americans acutely aware of the impacts of terrorism. These events and continued threats of terrorism have raised questions about the impact on the psychological health of the nation and how well the public health infrastructure is able to meet the psychological needs that will likely result. Preparing for the Psychological Consequences of Terrorism highlights some of the critical issues in responding to the psychological needs that result from terrorism and provides possible options for intervention. The committee offers an example for a public health strategy that may serve as a base from which plans to prevent and respond to the psychological consequences of a variety of terrorism events can be formulated. The report includes recommendations for the training and education of service providers, ensuring appropriate guidelines for the protection of service providers, and developing public health surveillance for preevent, event, and postevent factors related to psychological consequences.
Download or read book Fiscal Impacts of Climate Disasters in Emerging Markets and Developing Economies written by Habtamu Fuje and published by International Monetary Fund. This book was released on 2023-12-15 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Climate-induced disasters are causing increasingly frequent and intense economic damages, disproportionally affecting emerging markets and developing economies (EMDEs) relative to advanced economies (AEs). However, the impact of various types of climate shocks on output growth and fiscal positions of EMDEs is not fully understood. This research analyzes the macro-fiscal implications of three common climate disasters (droughts, storms, and floods) using a combination of macroeconomic data and comprehensive ground and satellite disaster indicators spanning the past three decades across 164 countries. Across EMDEs, where agriculture tends to be the principal sector, a drought reduces output growth by 1.4 percentage points and government revenue by 0.7 percent of GDP as it erodes the tax bases of affected countries. Meanwhile, likely reflecting limited fiscal space to respond to a disaster, fiscal expenditure does not increase following a drought. A storm drags output growth in EMDEs, albeit with negligible impact on fiscal revenue, but government expenditure increases due to reconstruction and clean-up efforts. We find only limited impact of localized floods on growth and fiscal positions. In contrast, AEs tend to experience negligible growth and fiscal consequences from climate-induced shocks. As these shocks have much more detrimental effects in EMDEs, international support for disaster preparedness and climate change adaptation play a crucial role for these countries to confront climate change.
Download or read book After Effects of the COVID 19 Pandemic Prospects for Medium Term Economic Damage written by Mr. Philip Barrett and published by International Monetary Fund. This book was released on 2021-07-30 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic has led to a severe global recession with differential impacts within and across countries. This paper examines the possible persistent effects (scarring) of the pandemic on the economy and the channels through which they may occur. History suggests that deep recessions often leave long-lived scars, particularly to productivity. Importantly, financial instabilities—typically associated with worse scarring—have been largely avoided in the current crisis so far. While medium-term output losses are anticipated to be lower than after the global financial crisis, they are still expected to be substantial. The degree of expected scarring varies across countries, depending on the structure of economies and the size of the policy response. Emerging market and developing economies are expected to suffer more scarring than advanced economies.
Download or read book Republic of South Sudan written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2023-03-09 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dire and deteriorating humanitarian situation. About two-thirds of South Sudan’s population is experiencing severe food insecurity, the highest level since independence. This is a result of multiple compounding factors, including severe multi-year floods due to climate shocks, inter-communal violence in parts of the country, and the impact of Russia’s war in Ukraine that is contributing to high global food and fuel prices.
Download or read book Antigua and Barbuda written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2023-05-30 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: Antigua and Barbuda’s economy is on a gradual recovery path, following a sharp contraction in 2020 due to the COVID-19 pandemic. Higher food and fuel prices are adding to inflation, eroding real incomes, and exacerbating fiscal and external imbalances. The economy is projected to grow by 6 percent in 2022 supported by tourism and construction activity, but output will return to pre-pandemic levels only by 2025 due to scarring effects of the pandemic. Inflation is expected to accelerate to 81⁄2 percent in 2022, reflecting the pass-through of global prices to the domestic economy. Continued fiscal consolidation efforts and the growth recovery are bringing down the primary deficit and debt-to-GDP ratio, but gross financing needs are high and arrears continue to be accrued. The financial system has adequate capital and liquidity buffers, with stable NPLs so far, but private sector credit growth is weak. Further commodity price shocks, a sharper-than-expected slowdown in key trading partners, a resurgence of COVID, tighter global financial conditions, lower citizenship-byinvestment revenues, and the ever-present threat of natural disasters all represent material downside risks.
Download or read book Philippines 2021 Article IV Consultation Press Release Staff Report and Statement by the Executive Director for Philippines written by International Monetary and published by International Monetary Fund. This book was released on 2021-08-06 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economy is recovering after a major, pandemic-induced economic downturn. The authorities have deployed a comprehensive set of policy responses that have helped to mitigate the socioeconomic impact and maintain financial stability. The economic recovery slowed in the first half of 2021 due to a second wave of COVID-19 infections. Vaccination has started and is poised to accelerate from midyear.
Download or read book Thailand written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2022-09-16 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thailand’s economy is recovering from an unprecedented crisis emanating from multiple waves of the COVID-19 pandemic. Ample policy space has allowed a swift and bold policy response and vaccine rollout has accelerated. However, the recovery is weak and uneven across sectors, with inflation rapidly rising driven by energy prices. Downside risks dominate the outlook, sharpening policy tradeoffs. The pandemic has also brought to the fore the urgency for Thailand to identify new growth drivers to reverse the pre-pandemic trend of declining productivity growth and meet the challenges of the post-pandemic world.
Download or read book Eastern Caribbean Currency Union written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2022-07-29 with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt: With ECCU economies slowly emerging from the pandemic with scars, the impact of the war in Ukraine is a setback to the nascent recovery. Higher food and energy prices, amid ongoing supply disruptions and intra-regional transportation bottlenecks, are raising inflation, eroding income, lowering output growth, worsening fiscal and external positions, and threatening food and energy security. As a result, inflation is expected to hover over 51⁄2 percent in 2022. Real GDP is projected to grow by 71⁄2 percent in 2022, leaving output still well below the pre-pandemic level. Fiscal deficits are projected to remain sizable, given continued pandemic- and disaster-related spending and temporary support to address rising living costs, thereby keeping gross financing needs and public debt at elevated levels in the near term. The financial system has remained broadly stable so far, with adequate capital and liquidity buffers, but nonperforming loans remain high and could rise further following the expiration of the ECCB’s loan moratoria program. The outlook is subject to large downside risks, primarily from further increases in commodity prices and new COVID variants amid vaccine hesitancy, in addition to the ever-present threat of natural disasters.
Download or read book Calibrating Fiscal Rules written by Olusegun Ayodele Akanbi and published by International Monetary Fund. This book was released on 2023-07-31 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: This technical note assesses how large shocks from natural disasters are key source of vulnerabilities for public finances. It extends the IMF Fiscal Affairs Department calibration toolkit by developing a methodology to calibrate fiscal rules in the event of natural disaster shocks and the possibility of implementing climate adaptation and mitigation measures. The features incorporated in this technical note would allow the calibration of a prudent medium-term fiscal anchor as well as annual budgetary limits that ensure the sustainability of public finances. The note is accompanied by a set of toolkits that provides instructions on calibrating a medium-term debt anchor and corresponding operational rules in the presence of natural disaster risks, accounting for climate investment and other mitigation mechanisms.
Download or read book Maldives written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2023-11-11 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Maldives is recovering after the historical 2020 fall in tourism, aided by a rapid COVID-19 vaccination program rollout. While the prompt and comprehensive policy approach in early 2020 was effective, a more prolonged pandemic and ambitious infrastructure projects are further weakening large pre-pandemic fiscal and external vulnerabilities.
Download or read book Eye of the Storm The Impact of Climate Shocks on Inflation and Growth written by Mr. Serhan Cevik and published by International Monetary Fund. This book was released on 2023-04-28 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is the impact of climate change on inflation and growth dynamics? This is not a simple question to answer as climate shocks tend to be ubiquitous, but with opposing effects simultaneously on demand and supply. The extent of which climate-related shocks affect inflation and economic growth also depends on long-run scarring in the economy and the country’s fiscal and institutional capacity to support recovery. In this paper, we use the local projection method to empirically investigate how climate shocks, as measured by climate-induced natural disasters, influence inflation and economic growth in a large panel of countries over the period 1970–2020. The results shows that both inflation and real GDP growth respond significantly but also differently in terms of direction and magnitude to different types of disasters caused by climate change. We split the full sample of countries into income groups—advanced economies and developing countries—and find a striking contrast in the impact of climate shocks on inflation and growth according to income level, state of the economy, and fiscal space when the shock hits.
Download or read book Dominican Republic written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2023-06-22 with total page 117 pages. Available in PDF, EPUB and Kindle. Book excerpt: Supported by sound policies and positive spillovers, the Dominican Republic has staged an impressive recovery from the pandemic, cementing its place as one of the most dynamic and resilient economies in the Western Hemisphere. The strong recovery began moderating at the end of 2022 in response to tighter global financial conditions, lower global demand, and policy accommodation withdrawal, helping ease inflationary pressures. The current account deficit widened in 2022 to 5.6 percent of GDP and was mostly financed by Foreign Direct Investment (FDI) flows, with the country maintaining sound market access. The financial sector appears well-capitalized, liquid, and profitable.
Download or read book Business Resilience in the Pandemic and Beyond written by European Investment Bank and published by European Investment Bank. This book was released on 2022-05-18 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: COVID-19 set new challenges for the economies in Eastern Europe and Central Asia. Strong policy and fiscal support allowed businesses to stay afloat, with firms making long strides in innovation and in becoming global suppliers. This report examines the pandemic's business impact, trade and innovation, green economy and the financial gaps in this region. The report's analysis is based on the EBRD-EIB-WBG Enterprise Survey 2019, covering over 28 000 registered firms, and the first round of the COVID-19 Follow-up Enterprise Surveys, with over 16 000 firms.
Download or read book Care of Children Exposed to the Traumatic Effects of Disaster written by Jon A. Shaw and published by American Psychiatric Pub. This book was released on 2012-09-24 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: Care of Children Exposed to the Traumatic Effects of Disaster addresses the effects of disaster on children and their families, and explores the various resources that mental health practitioners and others who routinely interact with children, such as teachers, first responders, health care professionals, child care providers, child welfare professionals, and faith-based community members, can use to help them in their hour of need. The three co-authors have had extensive, and intensive, experience working with disaster victims and preparing both professionals and laypeople to intervene effectively in extreme events. Those on the front lines will find the book's practical and insightful observations, techniques, and strategies indispensible. Specifically, the book Explains not only how to provide basic support services and brief interventions but how to recognize children in distress, to actively support positive coping skills, to monitor children's well-being in the aftermath of disaster and to identify those who need more intensive evaluation and intervention. Encompasses a broad range of disasters, from the "natural" (such as earthquakes, tsunamis, tornadoes, and hurricanes) to the human generated (such as wars, civil strife, ethnic conflict, and acts of terrorism). Provides a timeline of psychological responses to disaster, with its impact phase and cascade of secondary adversities in the aftermath of disaster, which establishes helpful benchmarks to those providing support. Includes numerous tables and figures that convey complex information in an intuitive, easy-to-understand way. Care of Children Exposed to the Traumatic Effects of Disaster emphasizes the critical importance of effective therapeutic intervention -- which restores function, enhances recovery, and creates a safe and secure environment -- and explains how to mobilize family and social supports to achieve that goal.
Download or read book Leading Issues in Islamic Economics and Finance written by Zubair Hasan and published by Springer Nature. This book was released on 2020-09-01 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book discusses leading issues in Islamic economics and finance that continue to remain in a fluid, non-consensual state in the profession. It examines the nature and significance of Islamic economics. The book deals with the mainstream topics including growth, environment, distributive justice, monetary policy, risk treatment, methodology and Basel Accords to rehabilitate them for the Islamic discipline within the framework of scarcity, self-interest and gain maximization. Further, it explores the role of the state in directing the economy toward achieving Islamic goals of development and welfare.
