Economic policy

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Po-IcY RESEARCH WORKING PAPER 2539 'ummary findings rhe transition from plan to market provides a rare help coordinate production and trade emerge opportunity for insight into the endogenous spontaneously in a widely "disorganized" environment. development of economic institutions. Economic Using a largely unexplored set of firm-level data, they activities under the Soviet regime were coordinated by a document the emergence of business associations at the c entral authority. Soviet coordinating mechanisms were beginning of the transition and provide evidence that disrupted during the transition period, leading to an these new coordinating institutions mitigated the initial ncrease in firms' transaction costs. decline in output. Building on the growing literature on Blanchard and Kremer (1997), among others, complexity and transaction costs, they interpret the ~mphasize the negative impact of this "disorganization" emergence of these informal institutions as the firms' Dn output behavior at the beginning of the transition. rational attempt to coordinate activities in a Although their argument is correct, Recanatini and decentralized economy. Ryterman believe that their work and similar analyses In other words, the creation of complex organizations stop short of fully characterizing the transition by such as associations is the spontaneous result of a natural concentrating only on reform's disruptive effects. tendency in every system to create order at the edge of Recanatini and Ryterman start where the earlier work chaos. Business associations are more likely to emerge ends, examining the business associations that emerged where there is disorder, to provide their members with spontaneously in response to the transition's challenges. stability, coordination, and the information needed to They provide empirical evidence that institutions that improve performance. This paper-a product of the Poverty Reduction and Economic Management Sector Unit, Europe and Central Asia Region-is part of a larger effort in the region to analyze the impact of the transition process on institutional development.

In this paper, we examine how the EU Climate Adaptation Strategy and especially its pivotal principle of policy integration of climate adaptation has diffused into the climate adaptation strategies of Member States. We explore how this quest for climate adaptation policy integration (CPI) was pushed by vertical diffusion of the framing and policy mixes launched at the EU level. To do so, we analyse and compare national climate adaptation strategies in two EU Member States-the UK and Denmarkduring 2013-2021, which witnessed Brexit and increased attention to climate impacts. Conceptually and analytically, we draw on the policy diffusion literature centring on four potential drivers of vertical policy diffusion: interests, rights, ideology and recognition. Furthermore, to scrutinize what is diffused, we conceptualize climate policy integration including the rationale and policy instruments for climate policy integration. We find that both countries' approaches to climate change adaptation have been shaped by rights-based diffusion in a mixture of shadow hierarchy, soft power and activation of other policy areas with binding directives and observe how what appears to be asymmetrical diffusion has strong elements of symmetrical diffusion. We further identify divergence between the cases before and after Brexit and in mandating local level actions.

The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent. With a focus on the institutional set-up and the political environment as central to understanding and rectifying the poor impact of mining on Ghana's economic development, this paper highlights the vulnerabilities in mining sector governance along the industry value chain. The authors explain why it has been difficult to implement policies that would have improved social welfare. They find that incentive problems in institutions directly or peripherally involved in mining governance are a major factor, as are an excessively centralized policy-making process, a powerful executive president, strong party loyalty, a system of political patronage, lack This paper is a product of the Public Sector Reform and Capacity Building Unit, Africa Region. It is part of a larger effort by the World Bank to provide open access to its research and make a contribution to development policy discussions around the world. Policy Research Working Papers are also posted on the Web at . The author may be contacted at tle@worldbank.org. of transparency, and weak institutional capacity at the political and regulatory levels. The paper argues that the net impact of mining on economic development is likely to be enhanced with appropriate reforms in governance. Most importantly, there should be a greater awareness of incentive problems at the political level and their possible implications for sector performance and the economy at large. The set of checks and balances, as stipulated by the Constitution, have to be reinforced. Furthermore, capacity building at different levels and institutions is needed and should be combined with efforts to enhance incentives for institutional performance.

В статті здійснено огляд основних наслідків повномасштабного воєнного вторгнення та вплив на основні результати української промисловості у короткостроковій і довгостроковій перспективах. Встановлено, що найкраще зберігають та/або відновлюють виробництво галузі, які забезпечують базові потреби населення (виробляють їжу, одяг чи взуття). Доведено, що повномасштабна воєнна агресія підкреслила слабкі місця української економіки. Встановлено, що перші кілька місяців повномасштабного вторгнення в Україну супроводжувалися паливною кризою, що поставило перед керівництвом держави та бізнесом задачу налагоджування паливної логістику з нуля. Ця обставина також зменшила темпи відновлення економіки країни. На основі обробки статистичних даних, доведено що військові дії призвели до падіння ВВП України на 32% у 2022 році, спричинило девальвацію гривні та викликало зниження промислового виробництва та споживчих настроїв. Погіршенню ситуації в економіці також сприяв дефіцитом електроенергії. Національний оператор електропередачі був змушений застосувати обмеження споживання електроенергії в країні. Після кожного чергового удару ситуація погіршувалася, а після ракетних ударів у листопаді було коротке, але повне затемнення. Саме перебої з електроенергією погіршили ділові настрої та призвели до переглядів макроекономічних прогнозів. Встановлено, що у низці галузей (виробництві будматеріалів, металургії та металообробці, хімічній промисловості та машинобудуванні) фіксується критичне падіння виробництва. Навіть у деревообробній галузі, яка переважно сконцентрована на заході та півночі країни, лише 35% підприємств працюють майже на повну потужність. Дані підтверджують, що цілі галузі швидко стали заручниками війни, зважаючи на порушення ланцюгів постачання, блокаду морських шляхів експорту та зменшення попиту. Доведено, щоб успішно відновити економіку країни, відновити експортні можливості та витримувати конкуренцію на світових ринках, вистояти в боротьбі за ринки збуту своєї продукції Україні необхідно: підвищити ефективність економіки, яка базується на розвитку ринкових відносин; всебічно збільшувати експортну спрямованість зовнішньоекономічної діяльності; забезпечувати перехід до розрахунків з зарубіжними партнерами у вільноконвертованій валюті; удосконалити концепцію розвитку експортно-імпортних операцій. Ключові слова: економіка; експорт; імпорт; промисловість; електроенергія; логістика; інфраструктура; збитки; відновлення економіки; ВВП The article reviews the main consequences of a full-scale military invasion and the impact on the main results of Ukrainian industry in the short and long term. It has been established that the industries that provide the basic needs of the population (produce food, clothing, or shoes) are best preserved and/or restored. It has been proven that the full-scale military aggression emphasized the weak points of the Ukrainian economy. It was established that the first few months of the full-scale invasion of Ukraine were accompanied by a fuel crisis, which set the government and business leaders the task of setting up fuel logistics from scratch. This circumstance also reduced the pace of recovery of the country's economy. Based on the processing of statistical data, it is proven that military actions led to a 32% drop in Ukraine's GDP in 2022, caused the devaluation of the hryvnia, and caused a decline in industrial production and consumer sentiment. The deterioration of the situation in the economy was also contributed by the shortage of electricity. The national electricity transmission operator was forced to apply restrictions on electricity consumption in the country. After each successive strike, the situation worsened, and after the missile strikes in November, there was a short but total blackout. It was the power outages that worsened business sentiment and led to revisions in macroeconomic forecasts. It was established that in several industries (production of building materials, metallurgy and metalworking, chemical industry and mechanical engineering) a critical drop in production is recorded. Even in the woodworking industry, which is mainly concentrated in the west and north of the country, only 35% of enterprises are operating at almost full capacity. The data confirm that entire industries have quickly become hostages of war, with supply chains disrupted, seaborne export routes blocked, and demand reduced. It has been proven that to successfully restore the country's economy, restore export opportunities and withstand competition on world markets, to stand up in the struggle for sales markets for its products, Ukraine needs to: increase the efficiency of the economy, which is based on the development of market relations; comprehensively increase the export orientation of foreign economic activity; ensure the transition to settlements with foreign partners in freely convertible currency; to improve the concept of development of export-import operations.

The state of the city of Harare in terms of its present general outlook and critical analysis of its carrying capacity as a colonial city tends to perpetuate an ingrained myth among urban planners and the common people alike that planning has failed the former so called sunshine-city. Yet such a view treats with amnesia the wealth in the elasticity of planning as an instrument for change as well as a strategic force to command and direct the trajectory of cities. It is in this context that this paper discusses the elasticity of planning of Harare as anchored on a complex but well-knit constellation of the factors of good urban governance and political will. These can allow for urban reform and smart transformation. A close look at the city after 1980 shows that the city of Harare has been subjected to much bickering, contestations and intergovernmental impositions of policy hence it exemplifies policy from above as opposed to policy from below. This is largely explained by the central government's hard and fast wrenching control in directing the affairs of the city hence negating the role of the residents' needs and wants. Recently the city has been facing several challenges, more than ever before, and the more critical challenge now is the adopted culture of colonial blaming rather that solving the deep seated problems of poor management approaches. The present study is skewed towards assessing the historical and contemporary socioeconomic and political dynamics as far as they have inspired, championed, ignored, and arm-twisted planning. This has largely been to the detriment of the city. Thus, a vortex and maelstrom over the relevance of planning has been created which now requires planning to exonerate itself by proving its worthiness to the citizens and investors whose creeds and needs it has betrayed over the years.

Nowadays global competition and the depletion of natural resources are encouraging most of the countries in the world to find the alternative of economic matters that doesn't depend on nature, one of the alternatives is by switching the option to the creative economy, which is an economic matter that based on creativity and intellectual abilities. The creative economy is known as a concept which evolves and focuses on creativity as the main asset to generate the economic growth and development. Creative Economy and Creative Industry in Indonesia was discussed and evolved since 2006 Up until now, the creative industry development efforts continue to be made by Indonesian Government. One of the efforts is by doing a cooperation with South Korea. Korea becomes such a phenomenon in the technology development and its culture which evolves rapidly in Asia for the recent decades, and it is able to do the effective development and culture strategy, which is by its creative industry.

T his article introduces an experimental 1 consumer price index for the United States that follows, to the extent possible, the methods of the Harmonized Index of Consumer Prices (HICP), the European Union's (EU's) official price index. The U.S. HICP differs from the U.S. Consumer Price Index (CPI) in two major respects. First, the HICP includes the rural population in its scope. Second, and probably more importantly, the HICP excludes owner-occupied housing, in part because the methods for measuring price changes for owner-occupied housing are controversial and difficult. To construct the experimental U.S. HICP, the CPI first was expanded to cover the entire (noninsti-tutional) U.S. population and then was narrowed to remove the owner-occupied housing costs that the HICP excludes from its scope. Price indexes, such as the CPI, are complex constructs that can be sensitive to decisions about their scope, the formulas by which they are calculated, and other factors that are un...

L'emergenza pandemica, vista dalla prospettiva delle sue conseguenze economiche, ha portato in primo piano un problema sistemico che spesso, per ideologia o per ignoranza, nel dibattito pubblico viene lasciato sotto traccia: la questione del debito privato. Una ricostruzione delle vicende italiane degli ultimi quarant’anni può essere d’aiuto a mettere a fuoco le relazioni tra il disavanzo pubblico, il contesto istituzionale in cui questo si realizza, e la dinamica dell’indebitamento privato. Lo scopo è quello
di riflettere sulle strategie possibili che si aprono una volta che si riconosce, per quanto obtorto collo, non solo la dignità, ma anche la necessità, l’urgenza e la razionalità di interventi della politica fiscale in disavanzo.

School socioeconomic segregation has an impact on students' academic performance and affects equity in education. This study aims to evaluate socioeconomic segregation in schools and its changes in the previous decades, using data obtained from international large-scale assessments (ILSA). In this study, data from eight European Union (EU) countries bordering the Baltic Sea (i.e.

Rules against money laundering and terrorist financing are an area of law in which the European Union is significantly active and introduces many innovations. Public registers of beneficial ownership were one of the crucial tools with which this legislation promoted the openness of corporate structures in the European environment. For this reason, the judgment of the European Court of Justice in the Joined Cases C-37/20 and C-601/20, WM and Sovim SA v. Luxembourg Business Registers, which cancelled public access to beneficial ownership registers, caused an immense response. Part of the public sees this step as a major blow to the transparency and part as a victory for the rights of individuals. This paper explains the factual situation in the given case, summarises the Advocate General's opinion and analyses the reasons that led the Court to the presented conclusions. The author also reflects on the jurisprudence of the Court, which led to the issuance of this decision and its importance in the field of AML and the protection of the right to privacy in general. Based on these facts, the conclusion presents the possible development of future beneficial ownership registers in the EU.

The rapid development and implementation of digital technologies, in particular in the manufacturing sector, at the global and European level have become strategic priorities for achieving the global goals for sustainable development. The introduction of new generations of digital technologies is seen as a key element and leading factor for achieving a sustainable, competitive and green economy in the coming decades. The report presents the policy of the EU (and Bulgaria as part of the Union) aimed at achieving the implementation of the global goals for sustainable development. The degree and readiness of the Bulgarian industry to benefit from digital technologies and the tools of Industry 4.0 in support of sustainable, green economic growth of our society has been studied.

This paper addresses the important issue of the effects of trade liberalization on labor market job flows. It studies the case of Ukraine where we view the sudden openness of the economy to trade as a quasi-natural experiment. We use disaggregated data on manufacturing industries and customs data on trade flows taking account of shifting trade patterns after the disintegration of CMEA trade regime. We provide some first evidence that three-digit NACE sector job flows are predominantly driven by idiosyncratic factors within industries. Other things equal, there is increased labor shedding as larger non-state share in industry relates to less job creation and more job destruction. Trade openness does affect job flows in Ukrainian manufacturing disproportionately according to trade orientation. We find that while trade with CIS decreases job destruction, trade with the EU increases excess reallocation mainly through job creation.

The modern economy is based on technological innovation, which ensures the competitiveness and stability of countries. Investments in technologies such as artificial intelligence, robotics, the Internet of Things, Big Data and other Industry 4.0/5.0 technologies lead to economic growth, job creation and an improved quality of life. Countries that support these sectors become less dependent on external economic and financial crises, increasing their economic and strategic security. A long-term growth policy focusing on new technologies is crucial for building an economically strong economy that is resistant to various external factors and for ensuring the welfare and multifaceted security of citizens.

This study aimed to evaluate the post-decentralization difficulties, the Khyber Pakhtunkhwa Revenue Authority (KPRA) faced in collecting services tax in the province of Khyber Pakhtunkhwa at its actual potential. The study also sought to pinpoint challenges that the new tax authority was having and needed assistance from both the provincial and federal governments to fix. The foremost issues were analyzed via conducting Focus Group Discussions (FGDs) with KPRA Officers Tax Experts and consultants. Following Krueger & Casey (2000) and note-based technique, the result of the study showed that multiple issues, specifically, un-documentation, tax exemptions in FATA/PATA, and lack of tax experts & strategic plan leading to collection of services tax lower than actual potential. All such issues were caused by incapacity and lack of coordination by the province with federal authorities after decentralization. Finally, it is suggested that collaboration and sustained assurance of all stakeholders, including the federal and provincial governments are required to collect services tax at optimum level.

The global crisis affected Poland, putting its economic growth in jeopardy. This impact is reflected in deteriorated GDP growth prospects, reduced lending activity, limited access to external financing. Thus, the global crisis has become the key reason for the economic slowdown observed in Poland since mid-2008. Objective of this paper is to analyze the influence of economic crisis on the economic situation in agriculture and food industry in Poland.

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’.

Devicienti, D., Maida, A., Morini, M., Pacelli, L., Poggi, A., & Versan, P. (2008). Employment security and employability: a contribution to the flexicurity debate. Office for Official Publications of the European Communities. ... There are no files associated with this item.

This study investigates the influence of occupation on household consumption expenditure in Maharashtra from 2019 to 2021, highlighting annual trends and rural-urban disparities. Utilizing data from the Consumer Pyramid Household Survey (CPHS), the analysis reveals distinct spending patterns across occupational groups. White-collar professionals and self-employed households allocate a larger share of their income to discretionary expenses such as recreation, dining, and vacations. In contrast, blue-collar workers and informal sector employees focus more on essential expenditures, including food and healthcare. The COVID-19 pandemic exacerbated these disparities, causing income shocks for informal workers and prompting a shift in spending priorities toward necessities. The study underscores the need for policy measures to stabilize employment in the informal sector and foster discretionary spending in urban areas. Strengthening social security nets, enhancing employment opportunities, and promoting financial resilience can help mitigate the adverse effects of economic disruptions on household consumption patterns.

Sustainable development hinges on simultaneous environment and economic development. But in the process of development, the current focus has been more biased to economic development globally at the cost of the environment. Therefore, sustainability of the fruits of such development, benefiting both the present and future generation becomes debatable one, Further, contemporaneously the prevailing linear consumption and production model produces insurmountable waste generation and pollution in the economy and leading to environmental degradation and climate change with a cascading effect on sustainable development (SD). This phenomenon signals a vast gap between the economic development and environmental development demanding recalibration of our strategies. towards sustaining the balanced development outcome Such a paradigm shift calls for transition from linear model to transition circular economy focusing on using renewable sources. But such adoption requires a large amount of finance in developing countries like Ghana. While addressing such an approach, the potential of local resources at country level, such as micro financial institutions (MFIs/NGOs), for supplementing the needed investment, remains untapped. This scenario appeals for an investigation for fostering an innovative partnership among multi-stakeholders towards addressing the barriers in the transformation pathway. With this surmise, the specific objectives of the paper are to identify the challenging gaps in Ghanaian economy in the sustainable pathway and to explore the potential of microfinance market in dealing with the issues in Ghana followed with a slew of policy recommendations

The paper analyses and evaluates the economic factors shaping the production factors cost in agricultural holdings in the six territorial regions of Bulgaria. It examines the changes in the composition, structure and dynamics of production factor costs-total and more types, as well as their dependence on net income and subsidies. The largest growth was achieved in the rent paid for rented land, followed by the wage paid for labour and interest paid for rented capital. There is a significant growth of factor costs in the regions specialised in fieldcrops cultivation-mainly due to rent costs, while in the regions with diversified production, wage costs prevail. Increased input costs reduce net income, making farms more dependent on public support. The analysis can assist regional farm managers and public authorities.

The paper presents the evolution of Romanian economic policies shortly before and during the financial and economic crisis. It starts by pointing out key data on the Romanian economy in 2008 and focuses on the different action plans the Romanian governement has drawn and put into practice in 2009 and 2010. The paper analysizes especially the general cut-off of wages in the public sector, the raise of taxes ( ) and their influence on consumers' demand and the evolution of Romanian GDP in 2010 and 2011. At the same time, it focuses on the evolution of governement investments in 2010 and 2011, the tool officially proclaimed as Romania's magical key for getting out of the recession. The paper shows that although such a raise in public investments was a dominant element in the governement's economic discourse, in fact public investments decreased in 2011. Based on the fact that the austerity measures, combined with the raise of public investments, wereaccording to mainstream economiststhe best possible policy mix for fighting the crisis, the paper comes to the conclusion that this policy mix has more negative than positive effects for the unreformed Romanian economy, as long as a true raise of public investments cannot be revealed. It shows that the crisis was used as a pretext for implementing Neoliberal principles in Romanian economic thought and policy as well, for pushing forward the dismantling process of the Romanian state.

The paper presents the evolution of Romanian economic policies shortly before and during the financial and economic crisis. It starts by pointing out key data on the Romanian economy in 2008 and focuses on the different action plans the Romanian governement has drawn and put into practice in 2009 and 2010. The paper analysizes especially the general cut-off of wages in the public sector, the raise of taxes ( ) and their influence on consumers' demand and the evolution of Romanian GDP in 2010 and 2011. At the same time, it focuses on the evolution of governement investments in 2010 and 2011, the tool officially proclaimed as Romania's magical key for getting out of the recession. The paper shows that although such a raise in public investments was a dominant element in the governement's economic discourse, in fact public investments decreased in 2011. Based on the fact that the austerity measures, combined with the raise of public investments, wereaccording to mainstream economiststhe best possible policy mix for fighting the crisis, the paper comes to the conclusion that this policy mix has more negative than positive effects for the unreformed Romanian economy, as long as a true raise of public investments cannot be revealed. It shows that the crisis was used as a pretext for implementing Neoliberal principles in Romanian economic thought and policy as well, for pushing forward the dismantling process of the Romanian state.

As the 2016 elections drew near and the prospects of a Rodrigo Duterte presidency became stronger, there were concerns that the economy might be adversely affected by the expected political volatility under the new regime. Since the start of the campaign season, Duterte had been rocking the establishment through controversial pronouncements and outbursts, attracting the enmity of leaders of the Catholic Church, the United States, and the United Nations. Based on a review of recent political and economic performance, this article argues that unless there are significant changes in the major sources of macroeconomic growth and stability, the Philippine economy would likely withstand the impact of a “Duterte shock.”

This paper assesses corruption and the institutional strategies to fight it in the Philippines. The objective is to identify areas for consideration in devising policy options on the basis of empirical data and theoretical perspectives. The paper also examines corruption in road construction projects. The paper is divided into four sections. The first is a description of corruption in the Philippines. This section starts with the general definition and nature of corruption and focuses on systemic or institutionalized corruption for the discussion. Then, it proceeds with the perceptions, historical evidences, traditional anti-corruption approaches and mechanisms, the costs and magnitude of corruption, initiatives from various sectors, and the persistence of the problem. The second part describes corruption in public roads projects. Various corrupt practices in two stages of road building are identified and indications of the magnitude of financial losses are provided. The third section briefly describes an NGO fighting corruption, particularly in road projects. The case demonstrates the potential of curbing the problem nationwide. The section also applies institutional and agency theory perspectives to identify key requirements for anticorruption strategies and programs. I argue that victory against systemic corruption should go beyond existing strategies and programs. Instead, change in the overall national structure for profit and income as well as the necessity of leadership are seen as urgent requirements. The final section contains the paper's conclusions and recommendations. The author expresses his gratitude to Konrad Adenauer Stiftung and the Yuchengco Center for East Asia for their support in the preparation of this working paper. Acknowledgements are also due to Lord Byron Abadeza and Danilo M. Agoncillo, both project research assistants of the Social Development Research Center, De La Salle University. 1. Definitions and Nature of Corruption. Corruption has been defined as the misuse or abuse of public office for private gain (World Bank, 1997; Jayawickrama, 1998; UNDP, 1999). It involves members of government and the private sector. It comes in several forms or as Klitgaard 2 puts it, "a wide array of illicit behaviors including bribery, extortion, fraud, nepotism, graft, speed money, pilferage, theft, embezzlement, falsification of records, kickbacks, influence-peddling, and campaign contributions." A report of the United Nations Development Programme (UNDP) identifies two types of corruption, petty and grand. However, I would like to use a tentative typology based on its pervasiveness in society, to wit: spontaneous and institutionalized (or systemic). The spontaneous type can be found in societies observing generally strong ethics and morals in public service. Individual acts of corruption are minimal although they can be both petty and grand. When corrupt behaviors are perennially extensive or pervasive in society, it can be said that corruption has been institutionalized. It has become a way of life, a goal, and an outlook towards the public office. Institutionalized corruption is a problem that thrives in the weakness of both public and private institutions to act as effective fiscalizers for the greater public good. Opportunities for corruption abound in the absence or lack of order, transparency and accountability. These characteristics and the problem of institutionalized corruption in general appear to be more pronounced in developing countries. In these countries, the number of corruption cases settled is far lower than what it ought to be based on broad perceptions of its prevalence. 2. Perceptions of Corruption in the Philippines. In the Philippines, there is a strong belief that corruption is prevalent. In a 1998 Social Weather Station (SWS) survey, over 70% of the respondents think that, in government, corruption exists. Nearly 40% believe that there is "a great deal" of corruption. Even the Office of the Ombudsman admits that billions of pesos are being lost to corruption. Based on its Corruption Perceptions Index (CPI) for 99 countries, Transparency International has also rated the Philippines as the 54 th most corrupt countries in 1999. The Philippines has scored 3.6 based on the CPI's scale of 1 (high perception) to 10 (negligible perception). According to Vinay Bhargava (2000), World Bank country director for the Philippines, "Our analysis so far reveals a broad consensus that corruption in the public and private sectors in the Philippines is pervasive and deep-rooted, touching even the judiciary and the media." 4 Indeed, in a society with a long history of state and elite predation as well as mass powerlessness, the use of public office has been identified with gaining and maintaining economic, political, and social power. Both private citizens and 2 See Robert Klitgaard, "Strategies Against Corruption", , p. 1. 3 Vinay Bhargava (2000), World Bank country director for the Philippines, provides a good summary of the most relevant indicators based on latest surveys and studies. See Vinay Bhargava, "Combating Corruption in the Philippines", paper delivered at the Summit Against Graft and Corruption: An NGO Initiative, hosted by the Volunteers Against Crime and Corruption (VACC), 30-31 May, 2000. 4 Ibid.

Resumen: Este estudio introduce el concepto de "sombras económicas" para describir la percepción distorsionada de estabilidad generada por políticas económicas que, aunque aparentan sostenibilidad y bonanza en la población, ocultan debilidades estructurales y limitan la capacidad de una economía a sostener su desarrollo a largo plazo. A través del análisis de casos como Bolivia, Venezuela y Argentina, se examina cómo los subsidios, el control de precios y la dependencia de ingresos volátiles han creado una falsa percepción de prosperidad. El estudio compara este concepto con teorías existentes, como la Ilusión Monetaria y la Enfermedad Holandesa, diferenciándolo por su enfoque en la percepción colectiva de estabilidad. Finalmente, se proponen estrategias para transitar hacia un modelo económico sostenible, basado en la diversificación productiva y la competitividad. Palabras clave: Sombras económicas, percepción distorsionada de estabilidad, subsidios, control de precios, crecimiento económico insostenible.

O texto analisa algumas das contribuições centrais de Fabio Erber ao pensamento latino-americano sobre desenvolvimento, tecnologia e políticas -a importância da endogeneização do progresso técnico, do caráter sistêmico, das especificidades locais do processo de inovação e do papel do Estado nesses processos. Resgatam-se as discussões de Erber a respeito da função das políticas explícitas e implícitas; dos aspectos macro, meso e microeconômicos da inovação; das relações econômicas e tecnológicas dos países latino-americanos com os países mais avançados e com as corporações transnacionais lá sediadas; dos condicionantes do aprendizado tecnológico por parte de empresas locais; e das limitações da utilização de tecnologia estrangeira como foco e mecanismo principal dos processos de capacitação local. O artigo argumenta que as ideias de Erber, além de representarem uma contribuição pioneira à compreensão dos condicionantes que restringiram a criação de capacitações produtivas e inovativas nas economias latino-americanas no século passado, continuam sendo extremamente úteis para compreenderem-se os limites das atuais políticas, os dilemas e as oportunidades do desenvolvimento brasileiro.

The European Union is set to become the world's first climate-neutral continent in 2050. Achieving such an ambitious goal requires cross-cutting measures in all key sectors of the economy, including transport, which is one of the main sources of emissions in Member States, including Poland. Electromobility is a key instrument for reducing the negative impact of transport on climate and the environment. The current automotive market in Poland, for the most part, is made up of old combustion engine cars. The average age of a passenger car in Poland in 2021 was 14.5 years, 0.2 years more than in 2020. An important point to note is that in 2021, nearly twice as many used cars were imported into Poland as new cars were sold, and this was 11.3% higher than the figure recorded in 2020. At the same time, 48% of the cars were equipped with diesel engines. Thus, it is reasonable to identify the current state of knowledge of e-mobility and its assessment by young consumers (18-to 25-year-olds). How they perceive such vehicles is of great importance. Young buyers are a special group in the automotive market -their purchasing preferences will determine the nature of the car market in the future, including whether it will be zero-emission. Learning about the opinions of young consumers is important. On the one hand, it allows knowledge to be gained about the beliefs, feelings, and level of interest in this type of car and the actions young people want to take regarding purchase and use. On the other hand, knowledge of their attitudes towards electric cars can be the basis for creating more relevant information messages. Such information may also be significant for companies and institutions involved in introducing electric cars to the Polish market and those interested in the issues of new technologies in Poland.

Fiscal policy is central to a counltry's economic arld social either over time or across countries, and he discusses objectives, from macroeconomic stability to sustainable practical issues arising from this adaptation. Dinh1 growth and poverty reductioCn. BLut evalUations of a proposes two indicators to measure fiscal adjustment country's fiscal performance, over time or relative to efforts: other countries, are often conducted indepenident of * Fiscal solvency adjustment, which measures how far other development objectives. disregarding the links additional fiscal efforts must be taken to restore solvency between fiscal, monetary, and exchange rate policies. to the fiscal sector. A budget deficit of 4 percent of GDI', for example, Fiscal sustainability adjustmeint, which measures may be acceptable in one country bLut not in another, how far additional fiscal efforts inust be taken to because of different initial conditions and policy maintain the ratios of internal and external debt to priorities. In the same country, a level of fiscal deficit OUtpUt. may be acceptable one year bhtt not the next, depending l)inh applies the proposed framework to evaluate on developments and clhanges in policy objectives. recent fiscal performance in three countries -Argentina, * The size and growth of the consolidated budget deficit to GDP and the size of publicsector borrowing requirement to GDP. * The importance of non-central government accounts such as extra-budgetary accounts, social security system, central bank, public-enterprises, public-sector banks, and semipublic organizations * Whether the root cause of budget imbalance comes from the revenue side, or the expenditure side, or both. * The structure of revenues: direct vs. indirect taxes, other potential sources of revenues such as implicit or explicit subsidies. * The buoyancy of the tax system and the degree of rent capturing which could be subject to exogenous shocks. * The transitional nature of revenues: sources of revenues (such as sale of public assets) that may not be permanent. * The structure of expenditures: recurrent vs. capital expenditures. Within each category, potential sources of cuts and their impact on the efficiency and equity of public service delivery: the wage bill, subsidies, operations and maintenance, and capital expenditures. * The impact of domestic borrowing on private investment, on the financial sector and the banking system (for example, banks are required to hold a percentage of deposits in Government bonds). Impact of external borrowing on debt servicing problems. Impact of inflation on growth, investment and income distribution. * Other methods of financing the budget deficit: seignorage, inflation tax, and sale of government assets. * The extent to which the budget has been affected by the stock of domestic debt and by inflation. * The extent to which the public-sector has generated foreign exchange to service its debt payments. In this context, the nature of the current exchange rate regime, including the restrictions on current-account and capital-account transactions. * The extent to which the Goverinment has received grants and soft money from foreign governments to finance projects whose expenditures are included above the line.

The development of international trade law and policy continues to be hampered by inadequate consideration of the serious normative issues embedded in trade, as in any complex human social activity. The many" trade and _" problems1 currently at the forefront ...

In 2003, when we had begun working on the National Programme of Development (NPR) 2007-2013, I was wondering what could be done in order to prevent our political successors from wasting, aft er the parliamentary elections of 2005, what we would have achieved by that time. The main challenge to deal with was how to take advantage of EU membership and utilise EU structural instruments. It is rational, that a full cycle of development foreseen in such plan is carried out more for than a dozen years or so, that is, at least three to four government terms. I assumed that the most sensible solution would be to prepare a complete NPR and all the documents needed, but without passing them. Instead they were left for our successors for adjustments. I had thought that if the proceedings were fully transparent and accompanied with broad national debate, involving representatives of the opposition, then our successors would respect the outcome of such a collaboration and further use it. I also assumed that they would only change the details like titles, covers, reorganize something, but apart from that they would accept the Programme simply because they would not be able to develop anything entirely new on time. I was wrong, as it turned out. Almost everything was forsaken just because it was developed by the former, 'not right' government. Even the slightest traces of NPR disappeared from the site of the Ministry of Regional Development.

por Hijo para Protección Social (AUH) en los discursos sociales hegemónicos, en la percepción subjetiva de los derecho-habientes de la misma y el impacto de ésta en sus trayectorias socioeconómicas de vida. A partir de los relatos de las receptoras, analizamos la experiencia y valoraciones que poseen sobre la medida, la utilización del ingreso percibido y el direccionamiento de sus gastos cotidianos. Asimismo, buscamos identificar en qué medida existe la presencia del discurso dominante en los receptores de la AUH.

Արտաքին պետական պարտքի կառավարման արդյունավետության բարձրացման տեսանկյունից միջազգային պրակտիկայում կիրառելի է առանձին պարտքի կառավարման «գրասենյակի» կամ «գործակալական ինստիտուտի» մեխանիզմը։ Միջազգային պրակտիկայի ուսումնասիրությունները թույլ են տալիս նշելու, որ պարտքի կառավարման առանձին գործակալություններ ունեն հիմնականում զարգացած երկրները, որոնք ունեն արդյունավետորեն գործող ներքին կապիտալի շուկաներ։ Կարծում ենք, ՀՀ-ում պարտքի կառավարման գործակալական ինստիտուտի տեղայնացման առաջարկը պարտքի կառավարումը մեկ միասնական կառույցի ներքո կոորդինացնելուց զատ, նպաստի նաև արտաքին աղբյուրներից ներգրավված միջոցների օգտագործման արդյունքում ապահովված տնտեսական աճի չափելիությանը։ Հանգուցաբառեր` Պետական պարտք, պարտքի կառավարում, արտաքին պարտք, պարտքի կառավարման գործակալություն, կառավարման միջազգային փորձ Особенности расположения института агентства по управлению государственным долгом в РА

Que el presente trabajo de investigación realizado por el estudiante Carlos Andrés Moreno Hurtado, sobre el tema: "Modelo Matemático hacia el crecimiento económico endógeno del Ecuador, año 2013", ha sido cuidadosamente revisado por el suscrito, por lo que he podido constatar que cumple con todos los requisitos de fondo y forma establecidos por la

Стаття присвячена висвітленню електронної системи «Prozorro» як засобу формування ефективної та прозорої системи публічних закупівель в Україні. Досліджені основні світоглядні підходи до визначення державних і публічних закупівель. Проаналізовано законодавчу базу публічних закупівель в Україні. Визначені причини створення «Prozorro», основні положення цієї системи та зроблений висновок щодо її позитивного впливу на сферу публічних закупівель. Визначено, що основна мета запровадження «Prozorro» створення ефективної, прозорої та відкритої системи публічних закупівель в Україні, які наблизять нашу державу до вступу у ЄС. Ключові слова: державні закупівлі, публічні закупівлі, «Prozorro», тендер, система публічних закупівель Balan A.A., Bukovsky D.A. "Prozorro" electronic system as a revolution in the public procurement system in Ukraine. Review article. The article is devoted to the coverage of the electronic system "Prozorro" as a means of forming an effective and transparent system of public procurement in Ukraine. The main worldview approaches to the definition of public and public procurement are studied. The legal framework of public procurement in Ukraine is analyzed. The reasons for the creation of "Prozorro", the main provisions of this system and the conclusion about its positive impact on public procurement are identified. It is concluded that the main purpose of the introduction of "Prozorro" is to create an effective, transparent and open system of public procurement in Ukraine, which will bring our country closer to EU accession.

Hungary has faced a considerable challenge to regain credibility following persistent and high fiscal deficits. Efforts during recent years have produced substantial results. The fiscal deficit has been brought down significantly and, despite the recession, fiscal consolidation has continued to help restore foreign investor confidence. Short-term fiscal adjustment needed to be accompanied by measures that can durably improve Hungary's fiscal position, however, and it has; the adoption in 2009 of a pension reform and a Fiscal Responsibility Act, creating a Fiscal Council and fiscal rules hold that potential. These results should not lead to complacency. Some expenditure cuts, such as lower public salaries, may prove difficult to sustain. Fiscal consolidation in the past owed both to expenditure cuts and revenue increases. As a result, and despite an important tax reform starting in the second half of 2009 and extended from the beginning of 2010, marginal tax rates remain high, with adverse effects on the labour market and growth. Going forward, the government needs to contain public expenditure growth and improve public administration efficiency to reduce the public "footprint" on the economy and allow lower taxes. Key areas that warrant intensified efforts are public administration and health. The government should help secure a prominent role for the Fiscal Council and sufficient experience needs to accumulate before considering any substantial changes in the fiscal rules. Finally, improvements to make taxation less distortive should continue by further reducing tax wedges, and increasing the role of wealth taxes, notably for local governments. This Working Paper relates to the 2010 OECD Economic Survey of Hungary (www.oecd.org/eco/surveys/hungary).

The United States faces challenging budgetary prospects, as do most other OECD countries. The federal budget deficit widened considerably during the recession, reaching about 10% of GDP in both 2009 and 2010, reflecting the operation of automatic stabilizers and the policy response to the crisis. Consequently, public debt now stands at its highest level since the early-1950s. The Administration has proposed the objective of stabilising the debt-GDP ratio by 2015, which is realistic in scope and ambition, though it requires fiscal tightening measures which are yet to be identified. In the next decade, the effects of population ageing on entitlement spending will be increasingly felt and the fiscal situation could deteriorate significantly in the absence of structural reforms of pension and, especially, health care programmes.