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Asia and Pacific > India

You are looking at 1 - 4 of 4 items for :

  • Type: Journal Issue x
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Cover IMF Staff Country Reports
Australia: Selected Issues
International Monetary Fund. Asia and Pacific Dept
This Selected Issues paper examines monetary policy transmission via three lenses in Australia. The paper finds that while macroeconomic dynamics in Australia in the current tightening cycle have not differed significantly from historical experience and from experiences in other major AEs, the resilience of Australia’s economy in recent years is remarkable, as evidenced by persistently tight labor markets. Second, several features of the Australian housing market, most notably the high prevalence of variable rate mortgages, may strengthen monetary policy transmission to households relative to other AEs. Lastly, we find that firm investment in Australia’s nonextractive sector is strongly sensitive to monetary policy changes; the sensitivity is more pronounced for firms with less liquidity, higher leverage, and higher reliance on bank and short-term financing. We highlight how resilience in Australian corporate balance sheets in recent years may have helped soften monetary policy transmission to investment in the current cycle.
Keywords:
monetary policy shock; heterogeneity in monetary policy TRANSMISSION; industries in Australia; domestic energy transition; fossil fuel demand; Non-renewable resources; Monetary tightening; Renewable energy; Global; Europe
Cover IMF Working Papers
A Framework for Climate Change Mitigation in India
Jean Chateau
,
Geetika Dang
,
Ms. Margaux MacDonald
,
John A Spray
, and
Sneha D Thube
Climate change poses challenging policy tradeoffs for India. The country faces the challenge of raising living standards for a population of 1.4 billion while at the same time needing to be a critical contributor to reducing global GHG emissions. The government has implemented numerous policies to promote the manufacturing and use of renewable energy and shift away from coal, but much still needs to be done to reach India’s 2070 net zero goal. Reducing GHG emissions will almost certainly have a negative impact on growth in the short run and have important distributional consequences for individuals and communities who today rely on coal. But with the right policies, these costs—which are non-negligible but dwarfed by the cost of climate change over the next decade if no action is taken—can be significantly curtailed. This paper provides an in depth review of the current climate policy landscape in India and models emissions trajectories under different policy options to reduce GHG emissions.
Keywords:
Climate; IMF-ENV; India; net zero; climate policy landscape; research department; cost of climate change; emissions intensity; demand management; Greenhouse gas emissions; Renewable energy; Climate finance; Non-renewable resources; Electricity; Global; Asia and Pacific
Cover IMF Staff Country Reports
United Arab Emirates: Selected Issues
International Monetary Fund. Middle East and Central Asia Dept.
The Selected Issues paper discusses United Arab Emirates’ (UAE) focus on reforms for productive and greener growth. This paper aims to quantify the potential long-term growth and productivity gains from ongoing structural reform efforts. Facilitating green and sustainable private finance would reduce the direct fiscal burdens of investment needs and help promote a smooth transition to a lower carbon future. The UAE has recently signed or started negotiations for Comprehensive Economic Partnership Agreements with eleven countries. Depending on the UAE’s ability to further attract foreign direct investment, the reduction of tariffs, especially on intermediate inputs, can significantly lift long-term growth through stronger competition, access to a higher number of varieties and quality of inputs, and transfer of technology. Developing and scaling up private green and sustainable finance, as well as creating an enabling environment for smooth energy transition, would reduce direct fiscal costs, increase efficiency of green investments, and preserve public financial wealth while delivering on growth and Net Zero ambitions.
Keywords:
UAE government; ICT investment outcome; FDI restrictiveness index; quantifying gains from trade liberalization; productivity gain; Climate finance; Digital economy; Foreign direct investment; Sustainable growth; Global
Cover IMF Working Papers
Jobs Impact of Green Energy
Jaden Kim
and
Mr. Adil Mohommad
This brief paper accompanies the Green Energy and Jobs tool, which is a simple excel-based tool to estimate the job-creation potential of greening the electricity sector. Specifically, it calculates the net job gains or losses from increasing the level of energy efficiency, and from increasing the share of clean and renewable electricity generation in the total electricity output mix. The tool relies on estimates of job multipliers in the literature, and adds evidence from firm-level data on the job-intensity of different energy sources. The paper illustrates applications of the tool using data from the IEA’s Sustainable Development Scenario compared to business-as-usual. This tool is intended to help country teams engage further on climate change issues in bilateral surveillance.
Keywords:
Renewable energy; jobs; sustainable development; jobs tool; net job gain; job multiplier; electricity sector; electricity generation; Electricity; Non-renewable resources; Job creation; Global