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1. How the G20 can hasten recovery from COVID-19

Author:
Maurice Obstfeld, Adam S. Posen, Olivier Blanchard, Chad P. Bown, Cullen S. Hendrix, Ana González, Simeon Djankov, Anne-Laure Kiechel, Anna Gelpern, Sean Hagan, Adnan Mazarei, Christopher G. Collins, Simon Potter, Edwin M. Truman, and Joseph E. Gagnon
Publication Date:
04-2020
Content Type:
Special Report
Institution:
Peterson Institute for International Economics
Abstract:
The world's leading economic powers must cooperate more to combat the health and economic shocks resulting from the COVID-19 pandemic. In a new PIIE Briefing, Peterson Institute experts outline how collective action by the Group of Twenty (G20) nations can make a difference. The PIIE agenda includes removal of trade barriers impeding the flow of medical supplies and food, and more money for research, testing, and disease control, especially for debt-burdened low-income countries. The World Bank and the World Health Organization need more resources to relieve suffering, and the International Monetary Fund must step up to stabilize the world financial system.
Topic:
Economics, Health, World Health Organization, International Monetary Fund, World Bank, G20, and Coronavirus
Political Geography:
Global Focus

2. Doing Business in Bolivia: a case study in the Andean regulatory framework

Author:
Jorge Ignacio Del Castillo Machicado
Publication Date:
04-2020
Content Type:
Working Paper
Institution:
Institute for Advanced Development Studies (INESAD)
Abstract:
This article researches on the evolution of the business regulatory framework of Bolivia from 2006 to 2017 and its relationship with the country’s Labor productivity, Total Factor Productivity, and its Informal Economy size. To do this, it analyzes the Doing Business annual reports and standardizes each year overall score to the most recent methodology developed by the World Bank Group. Furthermore, it complements its finding with qualitative data through semi-structured interviews to key actors in the Bolivian economy. Overall, this paper finds that few steps have been taken to improve Bolivia’s Business regulatory framework from the period of 2006-2017, result in a lower rank in the Doing Business report and keeping its score constant. The lack of initiative in working towards more efficient policies, complex nature and poor adaptability of new technological practices have stagnated the improvements of business regulations along their lifecycles. As a consequence, Bolivia Total Factor Productivity, Informal Economy size and Labor productivity have shown no improvement over the last 10 years.
Topic:
Economics, Science and Technology, Labor Issues, World Bank, Regulation, and Business
Political Geography:
Latin America and Bolivia

3. Pandemic (COVID-19) Policy Regional Cooperation and the Emerging Global Production Network

Author:
Fukunari Kimura
Publication Date:
04-2020
Content Type:
Working Paper
Institution:
Economic Research Institute for ASEAN and East Asia (ERIA)
Abstract:
In this paper, we explore the possible policy responses to the pandemic shock as well as the related economic (financial crisis) shocks on trade and global value chains (GVCs) in East Asia. We find that regional policy coordination is critical to mitigate and isolate the pandemic shock. It is important to identify the pandemic events early to flatten the pandemic curve at the national and regional level. This supports a recent study by the World Bank (2020) which highlights the importance of early mitigation policies during the pandemic shock. The cost of the pandemic and economic shocks increases significantly when several countries in the region experience the systemic pandemic shock concurrently. In this case, flattening the regional pandemic curve becomes important. The results also indicate the need for greater coordination in East Asia to mitigate the pending economic shock in terms of unemployment, corporate bankruptcy, and financial market fragility. The paper also highlights that the stability of the GVC network is critical during the pandemic in terms of hedging the risk of disruptions to the procurement of critical medical and health products as well as the stability of the services linkages to manufacturing, such as the logistics sector. Regional policy coordination and the stability of GVCs are valuable in the post-pandemic recovery of the region.
Topic:
World Bank, Pandemic, Global Value Chains, and COVID-19
Political Geography:
East Asia and Asia