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John. J. McCloy, President of the International Bank for Reconstruction and Development, discussed the U.S. announcement of the European Recovery Program (Marshall Plan). This ambitious plan must be economically successful. The inherent strengths of Europe give reasonable assurance of the...
Persistent link: https://www.econbiz.de/10012646144
As governments around the world struggle to piece together the most effective fiscal response to counter the economic and social impact of the COVID-19 outbreak, some are facing constraints imposed by fiscal rules enacted in the past to ensure fiscal discipline. The outbreak has revealedthe...
Persistent link: https://www.econbiz.de/10012647392
The global financial crisis severely affected economies in Eastern Europe and Central Asia (ECA). Currencies depreciated across the region. Government tax revenues declined sharply leading to high budget deficits and rising levels of public debt. Tightening credit supply and deteriorating...
Persistent link: https://www.econbiz.de/10012247243
This paper analyzes the growth pathways of 1,321 regions in the European Union from 2003 to 2017. The aim is to inform integrated territorial investments and other economic development initiatives in lagging regions. Using the definition of lagging regions from the European Commission's Catching...
Persistent link: https://www.econbiz.de/10012434610
This note outlines barriers to competition in product markets based primarily on the screening of Serbian regulations using the OECD Product Market Regulation methodology and comparison to regulations in the OECD. The note focuses on topics covered by the 2018 OECD-WBG product market regulation...
Persistent link: https://www.econbiz.de/10012647008
Serbia spends relatively large amounts on state aid programs, many of which will have to be phased out or restructured to comply with EU laws. There is room to restructure the existing programs to target activities that have more growth and job dividends; for example, by targeting startups and...
Persistent link: https://www.econbiz.de/10012647013
This paper uses a global general equilibrium simulation model to quantify the effects of lifting economic sanctions on Iran with and without strategic responses. Iran benefits the most, with average per capita welfare gains ranging from close to 3 percent, in the case when Iran's crude oil...
Persistent link: https://www.econbiz.de/10012246487
Dramatic changes took place in agricultural policies in Europe in the 19th and 20th century. In the 1860s European nations agreed on a series of trade agreements which spread free trade across the continent. In the 1960s European nations concluded an international agreement which spread heavy...
Persistent link: https://www.econbiz.de/10012246941
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