Europe and Central Asia http://blogs.worldbank.org/growth/taxonomy/term/250/all en Secular Stagnation: A Working Pair of Scissors Needs Two Blades http://blogs.worldbank.org/growth/secular-stagnation-working-pair-scissors-needs-two-blades <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><img alt="" height="225" src="http://blogs.worldbank.org/growth/files/growth/Scissors.jpg" style="float:right" title="" width="300" />The role of asset bubbles as an unsustainable pillar of pre-2007 world economic growth has been widely recognized. Simultaneously, analysts worry that a secular stagnation, though momentarily offset by asset bubbles, may have been already at play in major advanced economies, leading to the ongoing <a href="http://www.economonitor.com/blog/2014/03/crisis-recovery-flying-on-a-single-engine/" rel="nofollow">sluggish and feeble recovery</a>.</div></div></div> Wed, 12 Mar 2014 14:18:00 +0000 Otaviano Canuto 8877 at http://blogs.worldbank.org/growth Clogged Metropolitan Arteries http://blogs.worldbank.org/growth/clogged-metropolitan-arteries <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><img alt="" src="http://blogs.worldbank.org/growth/files/growth/Moscow_traffic_congestion.JPG_.jpeg" style="float:right; height:225px; width:300px" />Bad conditions of mobility and accessibility to jobs and services in most metropolitan regions in developing countries are a key development issue. Besides the negative effects on the wellbeing of their populations associated with traffic congestion and time spent on transportation, the latter mean economic losses in terms of waste of human and material resources.<br /><br /></div></div></div> Mon, 10 Feb 2014 14:59:00 +0000 Otaviano Canuto 8875 at http://blogs.worldbank.org/growth Calibrating 2014 http://blogs.worldbank.org/growth/calibrating-2014 <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><img alt="" src="http://farm6.staticflickr.com/5082/5321278576_df7f8e5d12.jpg" style="float:right; height:199px; width:300px" />The global economy looks poised to display better growth performance in 2014. Leading indicators are pointing upward – or at least to stability – in major growth poles. However, for this to translate into reality policymakers will need to be nimble enough to calibrate responses to idiosyncratic challenges.<br /><br /></div></div></div> Thu, 02 Jan 2014 18:16:00 +0000 Otaviano Canuto 8871 at http://blogs.worldbank.org/growth A Nobel for Regional Integration http://blogs.worldbank.org/growth/nobel-regional-integration <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><img height="150" alt="" hspace="1" src="http://blogs.worldbank.org/growth/files/growth/flags.jpeg" width="150" align="right" vspace="1" border="1" />In awarding the <a href="http://www.nobelprize.org/nobel_prizes/peace/laureates/2012/press.html"><font color="#0000ff">2012 Nobel Peace Prize</font></a> to the European Union, the Swedish Royal academy recognized 60 years of achievements in European economic integration.</p></div></div></div> Fri, 12 Oct 2012 20:38:50 +0000 Jean-Christophe Maur 8836 at http://blogs.worldbank.org/growth Unemployment rates are falling—but what about youth and women? http://blogs.worldbank.org/growth/unemployment-rates-are-falling-what-about-youth-and-women <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><SPAN style="COLOR: black"><IMG height=172 alt="" src="http://blogs.worldbank.org/growth/files/growth/flicker." width=250 align=left>Persistently high unemployment rates continue to trouble policymakers in developed and developing countries alike—but the recent <A href="http://siteresources.worldbank.org/EXTPOVERTY/Resources/336991-1318940394432/Job-Trends-February-2012.htm"><SPAN style="COLOR: blue">Job Trends</SPAN></A> report brings some good news. After successive years of disappointing labor market performance, several countries in Eastern Europe may finally be turning the corner. These countries suffered most during the financial crisis, so the recovery in job creation is much needed to boost family incomes. In the rest of the developing world, the headlines are positive even while we see some moderation in employment and wage growth in Latin America and East Asia.</SPAN><BR><BR><SPAN style="COLOR: black">I have two concerns at this stage. I suspect most observers of the world economy share my first concern that the incipient recovery is fragile, given the continuing economic turmoil in Europe. But I am also concerned with what’s happening with specific groups, such as youth and women. I have a hunch that the recovery is and will be uneven with youth, women and the less skilled having a harder time finding jobs—even if aggregate numbers show steady gains. The crisis hit young workers hard, particularly young men, and countries are dealing with long-term consequences. Unfortunately, few countries know what’s happening with groups of workers because the data are not collected routinely or if they are, the results are available only with a relatively long lag time.</SPAN><BR><BR><SPAN style="COLOR: black">Where recent data are available, the story is mixed. Although youth unemployment remains alarmingly high at 20-30 percent, </div></div></div> Mon, 13 Feb 2012 05:00:00 +0000 Tamar Manuelyan Atinc 8803 at http://blogs.worldbank.org/growth The Next Wave of This Crisis http://blogs.worldbank.org/growth/next-wave-crisis <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><img height="175" alt="" width="250" align="left" src="/files/growth/next_wave_crisis.png" />After all is said and done, this crisis had its genesis in US and European countries living beyond their means. This was reflected in large current account deficit which was financed by emerging economies of China, Russia, Brazil, Korea and others.</p></div></div></div> Wed, 30 Jun 2010 20:52:37 +0000 Raj Nallari 8735 at http://blogs.worldbank.org/growth My Own View on Women http://blogs.worldbank.org/growth/my-own-view-women <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><img height="161" alt="" width="250" align="right" src="/files/growth/women.png" />On Monday, the world marked <a target="_blank" href="http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:22491495~pagePK:64257043~piPK:437376~theSitePK:4607,00.html">International Women’s Day</a>. As a husband and father of strong, wonderful women, I am always very much aware of the occasion.</p></div></div></div> Tue, 09 Mar 2010 14:51:43 +0000 Otaviano Canuto 8709 at http://blogs.worldbank.org/growth Greece's $6.5 billion Crisis Plan http://blogs.worldbank.org/growth/greeces-65-million-crisis-plan <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><img height="188" alt="" width="250" align="left" src="/files/growth/greece_small.jpg" />In order to fight the financial crisis, Greece will take new austerity measures ranging from cutting civil salaries to increasing consumer taxes. A summary of some of these key fiscal measures can be found <a target="_blank" href="http://www.foxnews.com/story/0,2933,587828,00.html">here</a>.</p></div></div></div> Wed, 03 Mar 2010 22:31:49 +0000 Ihssane Loudiyi 8707 at http://blogs.worldbank.org/growth