|
on Confederation of Independent States |
| By: | World Bank |
| Keywords: | Conflict and Development-Armed Conflict Social Protections and Labor-Social Protections & Assistance |
| Date: | 2023–04 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:39653 |
| By: | Jeong, Minhyeon (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Kim, Kyungmin (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Kim, Hyuk-Hwang (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Jeong, Dongyeon (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Kim, Wongi (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)) |
| Abstract: | 본고는 러시아-우크라이나 전쟁 이후 중앙아시아 글로벌 가치사슬의 구조적 변동을 엄밀하게 분석하고 이를 토대로 한국과 중앙아시아의 새로운 경제협력 방향을 제시하였다. 전쟁 이후 전례 없는 강도로 지속되고 있는 서방의 대러 경제 제재가 장기화할 가능성이 큰 상황이므로 대러 제재가 중앙아시아 글로벌 가치사슬에 미치는 구조적 영향을 분석할 필요가 있다. 특히 최근 중앙아시아 각국이 안정적 경제성장을 위해 수출 경쟁력 향상에 국가적 전력을 다하고 있으므로 이를 반영하여 본고에서는 중앙아시아 수출 측면을 중심으로 대러 제재가 중앙아시아 교역구조에 미치는 영향을 식별하였다. 한편 글로벌 교역환경의 파편화가 가일층 심화하는 상황에서 한국과 중앙아시아 경제협력의 질적 수준을 제고하기 위해서는 대러 제재가 중앙아시아 글로벌 가치사슬에 미치는 객관적 영향을 반영한 새로운 경제협력 방향을 모색하여야 한다. 따라서 본고에서는 중앙아시아 글로벌 가치사슬에 대한 분석 결과를 토대로 한국과 중앙아시아의 미래 경제협력 방향을 제안하였다. This research rigorously analyzes structural changes in Central Asia’s global value chains following the Russia-Ukraine war and proposes new directions for economic cooperation between Korea and Central Asia. Given the high likelihood of prolonged Western economic sanctions against Russia, which have been sustained at unprecedented levels since the war, it is essential to examine the structural impact of these sanctions on Central Asia’s global value chains. In particular, as Central Asian countries have exerted national efforts to enhance export competitiveness to achieve stable economic growth, this study identifies the effects of the sanctions on Central Asia’s trade structure, primarily from the perspective of exports. (the rest omitted) |
| Keywords: | Asia; global; value chain; ukraine war; Korea-Central Asia; economic |
| Date: | 2024–12–30 |
| URL: | https://d.repec.org/n?u=RePEc:ris:kieppa:2024_021 |
| By: | Piotr Lewandowski; Agata Górny; Mateusz KrzÄ…kaÅ‚a; Marta PalczyÅ„ska |
| Abstract: | This paper studies the relationship between professional experiences and return intentions of Ukrainian war refugees in Poland, following Russia's full-scale invasion of Ukraine in February 2022. Using country-wide, online surveys conducted in 2022 and 2023 and worker-level measures of job tasks, we show that refugees' high employment rate coexists with widespread occupational downgrading and task degradation. Refugees transitioning to lower-skilled jobs after arriving in Poland faced stark increases in routine task intensity (RTI), often equivalent to shifts from managerial to clerical roles. Even those retaining their occupational status experienced heightened RTI, signalling underutilisation of skills. We find that refugees who experience a greater task degradation were more likely to plan to return to Ukraine by 2023, particularly those who initially, in 2022, did not plan to return. This relationship persists even after accounting for earnings and occupational downgrading. These findings underscore the role of job content in shaping migration decisions and highlight implications for host countries' labour market policies and refugee integration strategies. |
| Keywords: | migration, return intentions, occupational downgrading, task content of jobs |
| JEL: | J24 J61 O15 |
| Date: | 2024–03 |
| URL: | https://d.repec.org/n?u=RePEc:ibt:wpaper:wp012025 |
| By: | Beaufils, Timothé; Conyngham, Killian; de Vries, Marlene; Jakob, Michael; Kalkuhl, Matthias; Richter, Philipp M.; Spiro, Daniel; Stern, Lennart; Wanner, Joschka |
| Abstract: | This paper formalizes the geopolitical externality of climate policy and estimates its plausible magnitudes. Specifically, domestic reductions in fossil fuel demand depress global prices, thereby lowering export revenues for resource-rich autocracies - many of which allocate substantial resources to military spending. As a result, climate policy reduces geopolitical and security burdens on Western democracies, offering a potential "peace dividend" as a cobenefit. Exploiting the link between the European Union's oil consumption and the EU's costs of the Russian war in Ukraine as a case study, we highlight the relevance of this externality. We estimate that each euro spent on oil in the EU generates geopolitical costs of 0.37 [0.01 - 4.7] euros related to Russia's war on Ukraine. Based on our central estimate, a carbon price of 62 euros per ton of CO2 would be required to internalize these costs. Even under conservative assumptions, our analysis highlights that the geopolitical externality offers a compelling argument for strong unilateral efforts to reduce fossil fuel demand in the EU. |
| Keywords: | geopolitical externality, climate policy, co-benefit, EU climate policy, Russia's invasion ofUkraine |
| JEL: | F18 F51 F52 H23 H56 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:ifwkwp:315470 |
| By: | Colin Weiss |
| Abstract: | Events of the last five years, such as the U.S.-China trade war, the COVID-19 pandemic, and—most recently—Russia’s invasion of Ukraine, have raised concerns in the popular press and among policymakers that the international economic and financial system is at risk of becoming significantly fragmented (Aiyar et al., 2023; Ip, 2023; Shin, 2023). Most recently, attention has shifted to the possibility of fragmentation along geopolitical lines, where countries primarily trade with and invest in other countries with which they share close diplomatic and political ties (International Monetary Fund, 2023a, b). |
| Date: | 2023–08–04 |
| URL: | https://d.repec.org/n?u=RePEc:fip:fedgfn:2023-08-04-1 |
| By: | World Bank |
| Keywords: | Public Sector Development Governance |
| Date: | 2023–04 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:39667 |
| By: | International Monetary Fund |
| Abstract: | Three years of war have taken a staggering social, humanitarian, and economic toll. Efforts to end the war, and potential changes to international support retain the exceptionally high uncertainty to the outlook. Yet, the authorities’ commitment to reforms and fulfillment of all necessary Fund policies support completion of the review. First, the authorities, despite some slippages in the governance sphere, have continued to implement important reforms, including adopting the landmark reform for new administrative courts; they will also enact a law on tobacco excise taxes (prior action). Second, individual agreements under the US$50 billion Extraordinary Revenue Acceleration Loans Initiative for Ukraine (ERA) are nearing finalization, providing multi-year financing commitments, which the authorities will utilize consistent with program parameters. |
| Date: | 2025–03–28 |
| URL: | https://d.repec.org/n?u=RePEc:imf:imfscr:2025/078 |
| By: | Duden, Christoph; Böhner, Hannah; Kuhnert, Heike; Lampkin, Nicolas; Offermann, Frank; Röder, Norbert; Tegetmeyer, Inga |
| Abstract: | Der vorliegende Bericht liefert erste quantitative Analysen zur Inanspruchnahme der Öko-Regelungen in der GAP-Förderperiode 2023 bis 2027 in Deutschland. Die Auswertungen wurden durch eine literaturbasierte Analyse zu den Umweltwirkungen der Öko-Regelungen und eine Diskussion ausgewählter Aspekte zur Rolle der Öko-Regelungen in der sogenannten "Grünen Architektur der GAP" ergänzt. Der Bericht leistet damit einen Beitrag zur im GAP-Direktzahlungen-Gesetz vorgesehenen Evaluierung der Instrumente zur Förderung von Umwelt, Klima und Tierwohl. Im Rahmen der quantitativen Auswertung wurden bundesweit vorliegende Antragsdaten für die Jahre 2023 und 2024 differenziert nach Bundesländern ausgewertet. Zusätzlich erfolgte eine vertiefende Analyse der Inanspruchnahme der Öko-Regelungen nach ausgewählten betrieblichen Merkmalen der landwirtschaftlichen Unternehmen. Grundlage dafür waren pseudonymisierte einzelbetriebliche InVeKoS-Daten aus Bayern, Mecklenburg-Vorpommern, Niedersachsen und Rheinland-Pfalz für das Antragsjahr 2023. Die Ergebnisse wurden für jede Öko-Regelung in Factsheets zusammengefasst. Es zeigen sich starke regionale und betriebliche Unterschiede bei der Inanspruchnahme der Öko-Regelungen. Vergleichsweise hoch war die Teilnahmerate bei Betrieben des Typs "sonstiger Futterbau" (rinder- und schafhaltende Betriebe ohne Milchviehbetriebe). Zudem nahmen ökologisch wirtschaftende Betriebe mehrere Maßnahmen überdurchschnittlich stark in Anspruch. Bei der Interpretation der Ergebnisse der ersten beiden Antragsjahre sind besondere Einflussfaktoren zu berücksichtigen. Dazu zählen Lernkosten durch die Einführung der ÖkoRegelungen sowie außergewöhnliche Preisschwankungen auf den Agrarmärkten infolge der russischen Invasion in der Ukraine. Die qualitative Analyse der Umweltwirkungen der Öko-Regelungen zeigt, dass diese abhängig von der spezifischen Maßnahme und dem jeweiligen Kontext variieren. Während einige Öko-Regelungen in erster Linie der Stabilisierung des gegenwärtigen Umweltzustandes dienen, bieten andere, wie ÖR 1 (nichtproduktive Flächen) und ÖR 3 (Agroforst), ein signifikantes Potenzial zur Verbesserung von Biodiversität sowie Boden- und Klimaschutz. Die Inanspruchnahme blieb jedoch insbesondere bei den Maßnahmen mit erhöhtem Potenzial zur Verbesserung des Umweltzustands hinter den gesetzten Zielen zurück. Die Integration der Öko-Regelungen in die Grüne Architektur mit den Agrarumwelt- und Klimamaßnahmen der 2. Säule wird durch administrative Komplexität und föderale Unterschiede erschwert. Vorteile der Öko-Regelungen im Vergleich zu den Agrarumwelt- und Klimamaßnahmen der 2. Säule sind kürzere Verpflichtungszeiträume und vereinfachte Antragsverfahren. Auf Basis der Auswertungen und Erfahrungen der ersten beiden Jahre der aktuellen Förderperiode werden erste Empfehlungen zur Weiterentwicklung der Öko-Regelungen abgeleitet. |
| Abstract: | This report provides initial quantitative analyses of the use of eco-schemes in the 2023 to 2027 CAP programming period in Germany. These analyses were supplemented by a literature-based analysis of the environmental impacts of the eco-schemes and a discussion of selected aspects of the role of the eco-schemes in the so-called "Green Architecture of the CAP". The report thus contributes to the evaluation of the instruments for supporting environment, climate and animal welfare provided for in the GAP-Direktzahlungen-Gesetz (CAP Direct Payments Act). As part of the quantitative evaluation, application data available nationwide for the years 2023 and 2024 were analysed by federal state. In addition, an in-depth analysis of the utilisation of the eco-schemes was carried out according to selected operational characteristics of the agricultural enterprises. This was based on pseudonymised individual farm IACS data from Bavaria, Mecklenburg-Western Pomerania, Lower Saxony and Rhineland-Palatinate for the application year 2023. The results were summarised in factsheets for each ecoscheme. There are strong regional and farm differences in the utilisation of the eco-schemes. The participation rate was comparatively high for farms of the type "other fodder production" (cattle and sheep farms excluding dairy). In addition, organic farms made above-average use of several measures. Special influencing factors must be taken into account when interpreting the results of the first two application years. These include learning costs due to the introduction of the eco-schemes and exceptional price fluctuations on agricultural markets as a result of the Russian invasion of Ukraine. The qualitative analysis of the environmental impacts of the ecoschemes shows that these vary depending on the specific measure and the respective context. While some ecoschemes primarily serve to stabilise the current state of the environment, others, such as ÖR 1 (fallow land) and ÖR 3 (agroforestry), offer significant potential for improving biodiversity as well as soil and climate protection. However, particularly in the case of measures with high potential for environmental improvement, uptake fell short of the targets set. The integration in the Green Architecture of Pillar 1 eco-schemes with Pillar 2 agrienvironmental and climate measures is made more difficult by administrative complexity and federal differences. The advantages of the eco-schemes compared to the agri-environmental and climate measures of the 2nd pillar are shorter commitment periods and simplified application procedures. Based on the analyses and experiences of the first two years of the current funding period, initial recommendations for the further development of the eco-schemes are derived. |
| Keywords: | Öko-Regelungen, Grüne Architektur, Evaluierung, ökologischer Landbau, eco-schemes, green architecture, evaluation, organic farming |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:jhtiwp:313006 |
| By: | Bichler, Shimshon; Nitzan, Jonathan |
| Abstract: | The start of the second millennium brought a growing sense that capitalism was becoming more ‘authoritarian’ and ‘illiberal’, with various indicators suggesting that ‘democracy’ is waning around the globe, that the protection of human and civil rights is in retreat and that the number and intensity of military conflicts is on the rise. *** This angst is now greatly amplified by the domestic and foreign policies of the new Trump administration. Having returned to office in early 2025, Trump promptly launched a highly publicized crusade against his country’s ‘deep state’, with blasé disregard for its laws and con-stitution; announced his intentions to retreat from his country’s traditional postwar role as leader and protector of the Western world; and embarked on seemingly unhinged acts against friends (Canada, Mexico, Denmark, Panama and, primarily, Ukraine) while cozying up to long-term foes (Russia). *** One possible consequence of this growing angst is a global ‘arms race’. |
| Keywords: | arms race, Donald Trump, growth, militarization |
| JEL: | O4 P1 L64 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esprep:313786 |
| By: | Lee, Sangwon (Korea Institute for Industrial Economics and Trade) |
| Abstract: | The COVID-19 pandemic, the simmering trade conflict between the US and China, and the ongoing war between Russia and Ukraine have caused significant disruptions in the supply of critical raw materials (CRM), which are key inputs in the fine chemicals industry, and for which there are few viable substitutes. This reliance exposes the industry to potentially catastrophic geopolitical and environmental risks. The increasingly fragmented global supply chain in major economies exacerbates the risk of shortages and price volatility, and this is particularly true for CRM imported from China and a handful of other countries. Restrictions on CRM trade can lead to shortages and price increases, directly affecting production costs. And due to China’s dominance in the CRM supply chains, alternative sources are often more expensive, further diminishing profitability in this industry. Moreover, supply disruptions and delays complicate inventory management and demand forecasting, exposing companies to overstocking and stockout risks; prolonged inventory storage also accelerates depreciation. And while diversifying sources of CRM can stabilize supply, it also makes quality control and compliance more difficult and costlier. This poses a special challenge to the fine chemicals industry, where uniform quality standards are of utmost importance, given that most fine chemicals are high-performance products subject to stringent environmental oversight. In this paper, I assess the current state of competitiveness of South Korea’s fine chemicals industry in light of the risks described above, using a SWOT analysis based on the results of a survey of industry experts. I also identify some key implications for policy based on the results of the analysis. |
| Keywords: | chemicals; fine chemicals; chemical industry; critical raw materials; CRM; supply chains; China; rare earths; digital transformation; DX; small and medium-sized enterprises; SMEs; small businesses; digital technologies; climate change; population aging; population decline; demographic change; South Korea; Korea Institute for Industrial Economics and Trade; KIET |
| JEL: | F13 L65 Q37 |
| Date: | 2025–02–28 |
| URL: | https://d.repec.org/n?u=RePEc:ris:kieter:2025_002 |
| By: | Kohnert, Dirk |
| Abstract: | South African-born tycoon Elon Musk, the world's richest person, is also a senior advisor to US President Donald Trump and head of the Department of Government Efficiency (DOGE) since 2025. His influence is growing globally, including in sub-Saharan Africa (SSA). Both Trump and Musk have their own agendas. Musk supports white Africans' claims against Pretoria for alleged land dispossession. Musk’s key projects seek to establish political and cultural hegemony in global markets. For example, ‘Starlink’, which already provides global internet access in 114 countries, including SSA, and Tesla's energy Megapack solutions. It includes solar power and energy storage projects, to support the integration of renewable energy by providing grid-scale energy storage. Musk's goals show that he is not only an economic actor but also a leader who wants to shape the future of humanity. His projects are not limited to technology and commerce, but aim to change the power dynamics in international relations. However, the services provides often seem out of reach for many Africans due to the high cost. Musk's role as 'techno-feudal lord' is unprecedented. He even acts as arbiter in wars between nations, such as the Russian invasion of Ukraine. His random swings from altruistic to narcissistic, from strategic to impulsive, have been the subject of countless publications. He apparently wants the world to be saved, but only if he can be the one to save it. His political shift to right-wing populism began with his purchase of ‘Twitter’, when he deliberately spread misinformation on the platform. Within days of his purchase, for example, thousands of anonymous accounts began bombarding feeds with racist content. Musk's involvement in AI, including 'ChatGPT', seemed to be mainly about control, credit and rivalry. It is difficult to say whether his interest is driven by scientific curiosity and altruism, or by a desire to dominate a new and potentially powerful industry. Musk's support for autocratic leaders in Turkey, India and SSA, for example, is a reminder that big tech companies, not just states, are active players in transnational repression around the world. Authoritarian regimes and tech companies share a striking similarity: an appetite for information about their populations. While Big Tech uses this data for advertising profits, authoritarian states use it to tighten their grip on their populations. Multinational corporations are not simply subservient to the state. They can become more powerful, and sometimes more dangerous, than nations or even empires. |
| Keywords: | Elon Musk; Business magnate; Trump government; Sub-Sahara Africa; Trade policy; nationalism; Hegemonism; South Africa; Nigeria; Kenya; |
| JEL: | D22 D31 D42 F13 F51 F52 F6 P16 P52 Z13 |
| Date: | 2025–03–28 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124163 |
| By: | Kohnert, Dirk |
| Abstract: | South African-born tycoon Elon Musk, the world's richest person, is also a senior advisor to US President Donald Trump and head of the Department of Government Efficiency (DOGE) since 2025. His influence is growing globally, including in sub-Saharan Africa (SSA). Both Trump and Musk have their own agendas. Musk supports white Africans' claims against Pretoria for alleged land dispossession. Musk’s key projects seek to establish political and cultural hegemony in global markets. For example, ‘Starlink’, which already provides global internet access in 114 countries, including SSA, and Tesla's energy Megapack solutions. It includes solar power and energy storage projects, to support the integration of renewable energy by providing grid-scale energy storage. Musk's goals show that he is not only an economic actor but also a leader who wants to shape the future of humanity. His projects are not limited to technology and commerce, but aim to change the power dynamics in international relations. However, the services provides often seem out of reach for many Africans due to the high cost. Musk's role as 'techno-feudal lord' is unprecedented. He even acts as arbiter in wars between nations, such as the Russian invasion of Ukraine. His random swings from altruistic to narcissistic, from strategic to impulsive, have been the subject of countless publications. He apparently wants the world to be saved, but only if he can be the one to save it. His political shift to right-wing populism began with his purchase of ‘Twitter’, when he deliberately spread misinformation on the platform. Within days of his purchase, for example, thousands of anonymous accounts began bombarding feeds with racist content. Musk's involvement in AI, including 'ChatGPT', seemed to be mainly about control, credit and rivalry. It is difficult to say whether his interest is driven by scientific curiosity and altruism, or by a desire to dominate a new and potentially powerful industry. Musk's support for autocratic leaders in Turkey, India and SSA, for example, is a reminder that big tech companies, not just states, are active players in transnational repression around the world. Authoritarian regimes and tech companies share a striking similarity: an appetite for information about their populations. While Big Tech uses this data for advertising profits, authoritarian states use it to tighten their grip on their populations. Multinational corporations are not simply subservient to the state. They can become more powerful, and sometimes more dangerous, than nations or even empires. |
| Keywords: | Elon Musk; magnat des affaires; gouvernement Trump; Afrique subsaharienne; politique commerciale; nationalisme; protectionnisme; Hégémonisme; Afrique du Sud; Nigeria; Kenya; |
| JEL: | D22 D31 D42 F13 F51 F52 F6 P16 P52 Z13 |
| Date: | 2025–03–28 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124161 |
| By: | Fuhrhop, Pia |
| Abstract: | In den Jahren 2010 bis 2022 gehörten Rüstungsexporte in Länder außerhalb von EU und Nato wesentlich zur deutschen Sicherheitspolitik. Die Frage nach dem politischen Kalkül, das zahlreiche Bundesregierungen dazu bewogen hat, solche Waffenlieferungen an sogenannte Drittländer zu genehmigen, blieb oftmals unbeantwortet. Rückwirkend lassen sich aus öffentlichen Quellen vier damit verbundene Ziele identifizieren: Export von Stabilität, Einflussnahme auf Partnerstaaten, Förderung der heimischen Industrie und Unterstützung der europäischen Rüstungskooperation. Dabei fallen die Ergebnisse dieser Politik aus Sicht der Forschung durchwachsen aus; inwieweit Rüstungsexporte diese Ziele befördert haben, lässt sich oft nicht nachvollziehen. Deutlich wird aber, dass zwei Kontextfaktoren den Erfolg begünstigen: Berechenbarkeit der Beteiligten und Machtasymmetrie zwischen Geber und Empfänger. Im Zuge des russischen Angriffskrieges gegen die Ukraine haben sich die Vorzeichen der deutschen Rüstungsexportpolitik verändert: Politische Argumente könnten in Zukunft ökonomische Erwägungen in den Hintergrund drängen. Die Bundesregierung sollte in Zukunft die Ziele ihrer Rüstungsexportpolitik klarer als bisher formulieren, die Auswahl möglicher Partner für Rüstungsexporte systematisieren und sich ein Instrumentarium zulegen, mit dem sich die Wirkung ihrer Politik überprüfen lässt. |
| Keywords: | deutsche Sicherheitspolitik, Rüstungsexporte, EU, Nato, Drittländer, SIPRI, Export von Stabilität, Einflussnahme auf Partnerstaaten, Förderung der heimischen Industrie, Unterstützung der europäischen Rüstungskooperation |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:swpstu:315742 |
| By: | Emiko Todoroki; Ismael Ahmad Fontan; Fernando Dancausa; Maksym Iavorskyi |
| Keywords: | Finance and Financial Sector Development-Financial Structures Finance and Financial Sector Development-Finance and Development |
| Date: | 2023–04 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:39702 |
| By: | Ekaterina Borisova; Timothy Frye; Koen Schoors; Valdimir Zabolotskiy; Nikita Zakharov |
| Abstract: | We explore the impact of fear on demand for government intervention. Our empirical strategy takes advantage of a unique quasi-experiment: During our survey in Russia, a very popular television program misreported the riskiness of the Covid-19 virus, thereby providing short-term exogenous variation in the fear of infection. Using a shift-share instrument based on this media intervention, we estimate a causally positive effect of fear on popular approval of a variety of government interventions. The magnitudes of this effect are remarkable, with a one-standard-deviation change in fear explaining as much as 77-103 percent of a standard deviation in our aggregate measure of demand for regulation, and 99-167 percent and 85-96 percent of a standard deviation in obligatory mask wearing and stay-home orders, respectively. However, fear had little impact on demand for interventions unrelated to the virus, such as censorship and housing policy. We explore potential mechanisms and establish that fear heightens perceptions of noncompliance with safe behaviour by others — a mechanism in line with a neoclassical view that free-riding concerns increase calls for government intervention. Our study informs debates on the demand for regulation, the role of emotions in shaping policy preferences, and the impact of media on political attitudes. |
| Keywords: | demand for state intervention, soft propaganda, fear, Russia, Covid-19. |
| JEL: | D72 D91 H12 I12 I18 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11765 |
| By: | Marc Gronwald; Sania Wadud |
| Abstract: | This paper explores the relationship between green bond markets and both green and conventional financial markets, while also evaluating their effectiveness as a climate finance instrument. Using the Thick Pen Measure of Association — a visually interpretable tool for analysing co-movement across different time scales — we identify several key findings. First, the relationship between green bonds and other markets evolves over time, influenced by major events such as COVID-19, the Ukraine war, and earlier structural changes. Second, green bonds show the strongest co-movement with benchmark bond markets, indicating they are driven by similar fundamental factors. In contrast, their connection to stock markets is weaker and, in some cases, declining, reinforcing their potential as a diversification tool. However, short-term movements in the green bond market remain closely linked to the long-term stock market environment, particularly during periods of market stress. |
| Keywords: | green bonds, financial markets, co-movement, Thick Pen Measure of Association, data science |
| JEL: | C14 C32 C46 G12 Q56 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11773 |
| By: | Audi, Marc; Poulin, Marc; Ahmad, Khalil; Ali, Amjad |
| Abstract: | This study analyzes the impact that economic, political, and social globalization has had on carbon dioxide emissions in BRICS countries from 1991 to 2022. An empirical analysis has been performed by using the panel ordinary least squares, fixed effects, fully modified ordinary least squares, dynamic ordinary least squares, and panel quantile regres-sion methods. The findings show that both coal-based energy production and economic expansion are major contribu-tors to carbon emissions in BRICS countries. This research substantiates that there is an inverted U-shaped relationship between carbon emissions and per capita income in these countries, which validates the environmental Kuznets curve (EKC) hypothesis. Also, coal-based energy production and economic development are seen to be significant in raising carbon emissions at lower quantiles, and their significance falls at higher quantiles, thus reinforcing the EKC hypothe-sis in BRICS. The results show a strong influence of both political as well as economic globalization on carbon emis-sions, whereas social globalization has an insignificant impact. The findings indicate that the influence of economic and political globalization on carbon emissions differed across the distribution of carbon emissions, with a higher ef-fect in the lower to middle quantiles and a lower effect in the higher quantiles; this is consistent with the EKC theory. This type of impact by disaggregate globalization indicates that deeper regional cooperation and the empowerment of global institutions can depress global carbon emissions. |
| Keywords: | carbon emissions; economic globalization; political globalization; social globalization |
| JEL: | F6 Q5 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124293 |
| By: | Djuraeva, Mukhayo; Babadjanova, Mashkhura; Primov, Abdulla; Egamberdiev, Bekhzod |
| Abstract: | Extension services start to emerge in recent years but their impact on the production efficiency of women farmers is not empirically assessed in Central Asia. This paper investigates the role of extension services in improving female farmers’ technical efficiency scores while analyzing the impact of farm characteristics explaining the efficiency differentials across female farmers in rural areas of Samarkand and Tashkent in Uzbekistan. Unique and primary cross-sectional data were collected during July and August 2022 for female crop-producing farmers. A sample of 145 female-headed farming entities was selected for the survey by using a multistage, random sampling technique. To analyze the data in the scope of our research objective, we used an endogenous stochastic frontier production function and calculated the technical efficiency score of the sampled female farmers. Our findings reveal that extension participation was found to be endogenously determined and was addressed through the best possible valid instruments – individual consulting, distance from the household to the main road, and distance to the main market. The analysis demonstrates that access to extension services and the number of visits of extension agents have a positive impact on technical efficiency levels among women crop producers. Moreover, analysis shows the positive impact of private extension services whereas state-managed extension agencies do not have a significant impact on production efficiency. Recognition of the determinants of women farmers’ technical efficiency scores and the impact of extension services adoption ensures that targeted extension approaches should be encouraged and developed during the state policy reforms to address the existing gaps in resource-use management. |
| Keywords: | Agricultural extension services, female farmers, gender inclusivity, endogenous stochastic frontier model, crop productivity, Uzbekistan, Central Asia |
| JEL: | N50 O13 D13 D24 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esprep:312435 |
| By: | World Bank |
| Keywords: | Rural Development-Rural Land Policies for Poverty Reduction Environment-Sustainable Land Management Water Resources-Hydrology Agriculture-Agricultural Irrigation and Drainage |
| Date: | 2023–03 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:40240 |
| By: | World Bank |
| Keywords: | Water Resources-Water Economics Infrastructure Economics and Finance-Infrastructure Economics |
| Date: | 2023–03 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:39518 |
| By: | World Bank |
| Date: | 2023–04 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:39662 |
| By: | World Bank |
| Date: | 2023–04 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:40011 |
| By: | Primov, Abdulla |
| Abstract: | In Uzbekistan, land is more appropriate for cultivating fruits and vegetables. Since independence, the government of Uzbekistan has implemented a number of agricultural policies such as making some crucial structural reforms at the farms, comprising different institutions and enhancing diversification of agricultural production in order to stabilize on agricultural sector of the country. Therefore, crop diversity has an important role in sustainable agriculture. The main objective of the study is to analyze the degree and extent of crop diversification among farmers. We calculated the diversification index based on the Simpson Diversity Index method. The study revealed the mean computed Simpson Index values indicate that diversity index was found 0.59, 0.45, 0.56 and 0.62 for Andijan, Karakalpakstan, Kashkadarya and Tashkent regions, respectively. This implies that Tashkent region farmers shifted towards more diversification cropping patterns than other counterparts of the country. The overall result in the four states combined in this study reveals a mean Simpson Index within the sample of farmers was 0.56. This suggests that the farmers in the study areas were not too diversified in their cropping pattern. While cultivating several crop species also helps the farmers to manage both price and production risks which attains more food options for the household and income through marketing the produce from the surpluses. |
| Keywords: | Crop diversification, Simpson Diversification Index, Cropping patterns, Uzbekistan |
| JEL: | Q1 D13 D31 O18 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esprep:313532 |
| By: | World Bank |
| Keywords: | Public Sector Development Governance |
| Date: | 2023–04 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:39661 |
| By: | Enikolopov, Ruben; Kirschenmann, Karolin; Schoors, Koen; Sonin, Konstantin |
| Abstract: | How does government control over mass media affect banking system? Our theoretical model predicts that if the media are biased, depositors are less likely to run on their bank, but also less likely to deposit their money in the banking system in the first place. Empirically, we show that countries with more media freedom experience both more frequent banking crises and higher levels of financial development. We pin down the underlying mechanism with a case study from Russia's 1998 banking crisis. Banks in areas with more access to an independent TV channel saw their depositors return faster in the aftermath of the crisis, in line with the reasoning that the crisis revealed differences in media bias across TV channels and induced differences in financial development at the bank level. |
| Keywords: | bank runs, systemic stability, media freedom, information manipulation |
| JEL: | G01 G21 G51 H12 L82 O16 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:zewdip:312573 |