Spillover effects of US monetary policy in developing economies
Economic activity is bouncing back in several countries, supported by increased government spending, stimulatory monetary policy, health and border measures to limit COVID-19 infections and deaths, and the rollout of vaccines. In recent weeks, most countries have seen an uptick in the number of COVID-19 infections, associated with the rise of a new, more transmissible variant. Yet, countries with higher vaccination rates have been able to gradually reopen their economies as reflected in increased consumer demand and prices (figure 1).
US in the lead
Pent-up US demand, underpinned by federal stimulus and pandemic-fuelled savings…
World Economic Situation And Prospects: August 2021 Briefing, No. 152
CDP Background Paper No. 52
By CDP Subgroup on voluntary national reviews
The fourth in a series of annual analyses of voluntary national reviews (VNRs) by the Committee for Development Policy (CDP), this paper analyses the 2020 reports. It consists of an introductory chapter with general conclusions and recommendations for consideration by governments and other stakeholders participating in future VNRs; and a short series of authored thematic chapters. The document revisits issues addressed in the previous editions, such as the pledge to leave no one behind, inequalities, gender inequality, COVID-19 and pandemic preparedness, and SDG 17, and includes new topics of analysis, such as how…
What did the 2020 Voluntary National Review (VNR) reports still not tell us?
Download Frontier Technology Issues: Lithium-ion batteries: a pillar for a fossil fuel-free economy? (PDF)
Introduction
In 2019, the Royal Swedish Academy of Sciences awarded the Nobel Prize in Chemistry to three scientists for the development of lithium-ion (Li-ion) batteries that, according to the Academy, have laid the foundation for a fossil fuel-free economy. Li-ion batteries can safely store large amounts of energy, ensuring stable and predictable flows of electricity even in decentralized immobile (i.e., stationary) or mobile modes in remote areas. The increasing popularity of passenger electric vehicles and electric buses is largely a result of the capacity improvement of Li-ion…
Frontier Technology Issues: Lithium-ion batteries: a pillar for a fossil fuel-free economy?
Introduction
In his report to the 59th Commission for Social Development on the priority theme of socially just transition towards sustainable development (E/CN.5/2021/3), the Secretary- General pointed out that ?By adopting the 2030 Agenda, world leaders recognized that the current trajectory of economic development has not led to shared prosperity for all, but to high and rising inequalities in many countries, the climate crisis, and unsustainable consumption and production patterns. These consequences have taken a toll on social development and people?s well-being, especially among the most vulnerable.? The Report further analyzed the link between high inequality, consumerism and…
UN/DESA Policy Brief #109: Accelerate action to revamp production and consumption patterns: the circular economy, cooperatives and the social and solidarity economy
Global economic recovery threatens to leave many developing countries behind
The past few months have brought a string of upbeat news on the global economy, suggesting a vigorous recovery from the COVID-19 crisis. World merchandise trade has soared and is already well above the pre-pandemic level (figure 1). Similarly, global industrial production has seen a V-shaped recovery since the middle of last year. The prices of key raw materials, such as copper, iron ore and lumber, reached record levels in the second quarter of 2021. Crude oil prices climbed to a 2-year high above $70 per barrel in June. Meanwhile, capital flows to developing countries have rebounded since late 2020, driven by…
World Economic Situation And Prospects: July 2021 Briefing, No. 151
Why should we care about trust?
Trust is integral to the functioning of any society. Trust in each other, in our public institutions and in our leaders are all essential ingredients for social and economic progress, allowing people to cooperate with and express solidarity for one another. It allows public bodies to plan and execute policies and deliver services. Greater public trust has been found to improve compliance in regulations and tax collections, even respect for property rights. It also gives confidence to consumers and investors, crucial to creating jobs and the functioning of economies more broadly. Success in achieving each of the Sustainable Development Goals (SDGs)?from…
UN/DESA Policy Brief #108: Trust in public institutions: Trends and implications for economic security
Greater gender equality is essential for post-pandemic recovery
Before the COVID-19 crisis reversed much of the world?s progress on sustainable development outcomes, most societies were already struggling with persistent and oftentimes growing inequalities in opportunities, income and wealth. The twin public health and economic crises have worsened some of the world?s most pressing inequalities, laying bare the destructive impact of labour market inequities, the digital divide, and discriminatory access to public resources and education. Even though unemployment soared and extreme poverty shot up, the rich enjoyed handsome gains from rising asset prices. These injustices have left behind…
World Economic Situation And Prospects: June 2021 Briefing, No. 150
CDP Background Paper No. 51
By Djalita Fialho and Namsuk Kim
This paper provides conceptual inputs on a potential bi-modal monitoring framework for the Least Developed Country (LDC) category. The focus is on discussing its general aspects, in order to help build, among key stakeholders, a common understanding of the general direction such an initiative might take. It intends to help move discourse (and practices) from (reactive) ?crisis management? to (proactive) ?resilience management?, representing a change in perspective likely to help move the process of LDC monitoring forward in a meaningful manner, qualifying the contribution that the CDP might provide in this regard. With an improved…
Towards a resilience-building framework for monitoring countries graduating and graduated from the Least Developed Country category
Introduction
Even though rural poverty has declined rapidly in recent decades, poverty remains primarily a rural phenomenon and the poorest in rural areas are at risk of being left behind. The World Social Report 2021 (United Nations, 2021) finds that successes in poverty reduction have not always led to lower rural inequalities or to a closing of the rural-urban divide. Indeed, disparities in access to basic services and opportunities continue to exist within rural areas and between rural and urban areas, and can be persistently high for specific population groups, such as indigenous peoples and women. The COVID-19 pandemic has further exacerbated the precarious situation of the rural poor…
UN/DESA Policy Brief #107: Social protection in rural areas: achieving universal access for all
Introduction
Extreme poverty is mainly a rural phenomenon. Four of every five people below the $1.90-a-day international income poverty line lived in rural areas in 2013 (Casta?eda and others, 2018). Over the last decades, however, there has been tremendous progress in reducing rural poverty, partly as a result of successful policies promoting economic opportunities for the rural poor and expanding social protection in rural areas.
This progress has not been equitable across the board. The same economic forces that reduce poverty, including rural development and urbanization, can increase inequalities. Moreover, poverty is now rising due to the COVID-19 crisis. All evidence points to…
UN/DESA Policy Brief #106: Reducing poverty and inequality in rural areas: key to inclusive development
Welcome to the United Nations
