Introduction
Virtually every country is experiencing a growth in the size and proportion of older persons in the population, a demographic change with significant economic and social consequences (UN DESA, 2023). Several of these developing countries, especially in sub-Saharan Africa, will also experience a large increase in their young working age populations, presenting a unique opportunity to improve living standards for all, including those who would be ageing out of the workforce.
A larger working-age population can contribute to increased labour force participation, driving economic growth and productivity. Individuals in this group tend to also accumulate savings at a higher rate,…
Frontier Technology Issues: Harnessing the economic dividends from demographic change
Supply chains for microchips
Increasing use of microchips in daily life
Microchips, sometimes also referred to as semiconductors, are central to modern electronics. They are virtually ubi?quitous in people?s daily lives, being present in smartphones and other consumer products, industrial machines and military systems (figure 1). Leibovici and Dunn (2021), based on industrial information in the United States, estimate that about 25 per cent of 226 manufacturing industries use semiconductors as a direct input; these industries represent 39 per cent of all manufacturing output. These rates are expected to increase quickly over time. More importantly, microchips are essential for countries to…
World Economic Situation and Prospects: July 2023 Briefing, No. 173
CDP Background Paper No. 57
By Nirmalya Syam and Shirin Syed
Least developed countries (LDCs) benefit from specific flexibilities under the World Trade Organization (WTO) Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), including an extended transition period for implementation of the agreement. These flexibilities cease to apply when countries graduate from the LDC category. Cambodia, Djibouti, Senegal and Zambia are among the countries that have recently started the graduation process, which consists of a series of stages over several years and involves analysis of quantitative and qualitative information, including the expected impacts of graduation. In that…
Impacts of LDC Graduation on Trade-Related Aspects of Intellectual Property Rights (TRIPS) in Cambodia, Djibouti, Senegal and Zambia
CDP Background Paper No. 56
By CDP Subgroup on voluntary national reviews
This paper presents an assessment of the Voluntary National Review (VNR) experience from 2018-2022 as an instrument of peer learning in the implementation of the UN 2030 agenda. It highlights the key findings of the annual studies by the CDP of the VNR reports submitted to the High-Level Political Forum (HLPF) from 2017 to 2021. The VNRs have been successful as a process that has fully engaged Member States. The substantive content of the reports and the review process could be strengthened by: providing more analytical rather than descriptive information; focusing on achievements, challenges, and lessons learned;…
Implementing the SDGs: Strengthening the Voluntary National Reviews (VNRs)
Prospects for a robust global recovery remain dim
Global growth remains subdued
The world economy is facing severe headwinds amid weak growth prospects, elevated inflation and heightened uncertainties. A confluence of factors, including legacy effects of the COVID-19 pandemic, the protracted war in Ukraine, the ever-worsening impacts of climate change, and rapidly shifting macroeconomic conditions, are weighing on the global outlook. Stubbornly high inflation in both developed and developing countries has prompted the most aggressive interest rate hike cycle in decades, causing financial conditions to tighten and exacerbating debt vulnerabilities.
While economic prospects remain subdued,…
World Economic Situation and Prospects: June 2023 Briefing, No. 172
Prospects for a robust global recovery remain dim
Global growth remains subdued
The world economy is facing severe headwinds amid weak growth prospects, elevated inflation and heightened uncertainties. A confluence of factors, including legacy effects of the COVID-19 pandemic, the protracted war in Ukraine, the ever-worsening impacts of climate change, and rapidly shifting macroeconomic conditions, are weighing on the global outlook. Stubbornly high inflation in both developed and developing countries has prompted the most aggressive interest rate hike cycle in decades, causing financial conditions to tighten and exacerbating debt vulnerabilities. While economic prospects remain subdued,…
Amid multiple global crises, risk of prolonged period of low growth looms large
Full Report: English
Key Messages: English
Press Release: English
Prospects for a robust global economic recovery remain dim amid stubborn inflation, rising interest rates and heightened uncertainties. Instead, the world economy faces the risk of a prolonged period of low growth as the lingering effects of the COVID-19 pandemic, the ever-worsening impact of climate change and macroeconomic structural challenges remain unaddressed, according to the World Economic Situation and Prospects as of mid-2023 released today. According to the report, the world economy is now projected to grow by 2.3 per cent in…
World Economic Situation and Prospects as of mid-2023
As we enter May 2023, the global economic situation remains highly uncertain amid an extraordinary confluence of recent shocks that have affected countries across the world. Inflation has remained stubbornly persistent in many countries, directly impacting the lives of the poor, and posing a significant challenge to central bankers around the world.
With the banking sector turmoil rattling global financial markets in March, all eyes have been fixed on the United States Federal Reserve (Fed). By deciding to raise its key policy rate by another 25 basis points late last month, the Fed signaled that the fight against inflation was not over, while underscoring confidence in the domestic banking…
Welcome to the United Nations
