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Europe > Ukraine

You are looking at 1 - 6 of 6 items for :

  • Type: Journal Issue x
  • Selected Issues Papers x
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Cover Selected Issues Papers
Corruption and Economic Growth in Moldova: A Reexamination
Maksym Markevych
and
Marina Marinkov
This paper examines corruption in Moldova, analyzing its impact on economic growth and progress in implementing earlier IMF recommendations on anti-corruption and anti-money laundering (AML). Despite solid legal frameworks, corruption remains a significant challenge, impeding growth and EU convergence. Drawing from regional successes, the paper stresses the importance of specialized anti-corruption agencies, robust prosecution, civil society involvement, and international expertise. Moldova has made strides in strengthening its legal and institutional infrastructure, but challenges like delayed corruption case adjudication persist. Recommendations include enhancing the Anti-corruption Prosecution Office's investigative capacity and establishing specialized adjudication infrastructure.
Keywords:
Corruption; economic growth; governance; anti-money laundering; economic growth in Moldova; adjudication infrastructure; Moldova's progress; investigative capacity; corruption case; Anti-money laundering and combating the financing of terrorism (AML/CFT); Civil society; Europe; Eastern Europe
Cover Selected Issues Papers
Policies to Address Climate Change: Ukraine
Geoffrey N. Keim
and
Mariia Sydorovych
While the near-term priorities are national defense and macroeconomic stabilization, gradually incorporating climate change considerations into policy design will become increasingly important after the war and into the long term. As regards climate change adaptation, investments will need to be made with a view to maintain long-term debt sustainability. Policy reforms will also be needed to move to a low-emissions economy to deliver international commitments and achieve the broader objective of European Union accession. Potential exists to deliver on climate priorities alongside implementing recovery and reconstruction efforts, while maintaining macroeconomic stability, and ensuring social protection and equity.
Keywords:
Ukraine; climate change; carbon pricing; debt sustainability; address climate change; climate change adaptation; B. GHG emission; long-term debt sustainability; policy reform; Greenhouse gas emissions; Climate finance; Europe
Cover Selected Issues Papers
Impact of High Energy Prices on Germany’s Potential Output
Miss Yushu Chen
,
Ting Lan
,
Ms. Aiko Mineshima
, and
Jing Zhou
The surge in energy prices since Russia’s invasion of Ukraine has reduced the energy-intensive sector’s production in Germany, although the non-energy intensive sector’s production has held up thanks in part to firms’ efforts to improve energy efficiency. Energy prices are expected to remain elevated in the foreseeable future, compared to pre-war levels, adversely affecting firms’ productivity and thus lowering Germany’s potential output. Economic modeling suggests that this effect could be around 1¼ percent of GDP in staff’s baseline, with some uncertainty around this estimate, depending on the ultimate magnitude of the energy price shock and the degree to which increased energy efficiency can mitigate it. Policies can promote effective adjustment to the shock by increasing productivity and maintaining strong price incentives to conserve energy and invest in renewable energy production.
Keywords:
Germany; energy prices; energy efficiency; productivity; potential output; potential growth; directed technical change; price effect; price signal; surge in energy price; effect favor; optimization problem; energy efficiency response; Energy conservation; Fuel prices; Global
Cover Selected Issues Papers
Residential Property Price Developments and (Mis)alignments in Cyprus
Robert C. M. Beyer
and
Nina Biljanovska
Residential house prices in Cyprus show no signs of overvaluation in international comparison, and various indicators confirm that prices are aligned with economic fundamentals. However, still-high household debt poses a risk. Regional disparities raise some concerns about affordability, notably in Limassol, calling for supply-side measures to increase housing supply.
Keywords:
Cyprus; Residential Housing Prices; Housing Debt; Limassol; property price development; house price trend; household debt; C. debt vulnerability; default probability; Housing prices; Housing; Mortgages; Land prices; Global
Cover Selected Issues Papers
Food Insecurity in Nigeria: Food Supply Matters: Nigeria
Mr. Alun H. Thomas
and
Ms. Rima A Turk
Against the backdrop of high international food and fertilizer prices, this paper discusses food insecurity in Nigeria, investigates its drivers in a cross-country setting, and assesses the role of policies. Using two proxies for food security, we find that high per capita consumption, high yields and low food inflation support food security. Cross-country estimates of yields and production provided by the FAO/OECD reveal that use of inputs is lower in Nigeria than in other countries, and that policies to raise crop yields positively correlate with better food security conditions. The paper also uses detailed domestic commodity price indices to assess linkages with international prices and the role of import bans. Central bank policies for funding agriculture and import bans have not managed to stimulate agricultural output nor moderated the impact of international food prices. Rather, policies should focus on use of inputs that are severely underused in Nigeria as elsewhere in SSA.
Keywords:
Food insecurity; agriculture; yields; inputs; inflation support food security; food price inflation; vegetable oil; inflation differential; food inflation; food category; food import ratio; food consumption; food availability; food import reliance; Food security; Food prices; Consumption; Agricultural commodities; Food imports; Global
Cover Selected Issues Papers
Wage Indexation and International Competitiveness in Belgium: An Uneasy Coexistence: Belgium
André Geis
Belgium is one of a small group of euro area countries that maintains indexation of wages to inflation as part of its wage setting framework. With intensified price pressures since late 2020 driving inflation to record levels, the tension between compensating workers for purchasing power losses while maintaining international competitiveness have again been highlighted. To improve the performance and viability of the current setup, several avenues of reform could be envisaged. In particular, the scope for excluding price increases in highly volatile components, like energy and food, from the indexation basis should be explored to less the need to restore competitiveness by prolonged periods of real wage restraint. Moreover, options to widen the flexibility of the indexation regime should be contemplated to alleviate the burden of firms at times of large and multiple shocks, thereby also preserving investment and employment. Finally, productivity trends should also be accounted for to capture deviations of labor costs between Belgium and its key export markets.
Keywords:
inflation; price setting; collective bargaining; wage formation; wage setting; wage indexation; inflation indexation; international competitiveness; indexation basis; indexation regime; energy price inflation; health index inflation driver; Wages; Energy prices; Global; Baltics