154,353 research outputs found

    Evaluating IMF intervention ten years after the Russian crisis: modelling the impact of macroeconomic fundamentals and economic policy

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    The ongoing global financial crisis has become prominently visible since September 2008. This crisis affected the whole world and enhanced the importance of policy implementation to mitigate financial crises in future. Many academics blamed insufficient domestic regulation as the reason of crises, others pointed to the lack of overseas financial regulation and inappropriate actions by international organizations, such as the IMF and World Bank. This whole discussion encouraged a look back and analyzes of a previous crisis in a small country such as Russia. This paper evidently shows the inefficiency of IMF policy during the Russia Crisis in 1998 by implementing a new monetary balance- of-payment model in Russian data. This model identified the role of macroeconomic fundamentals and international economic policy implications on the likelihood and the timing of the currency crisis in Russia. For the period from December 1995 to December 1998 it was found that, the increase in domestic credit growth gradually undermined confidence in the fixed exchange rate regime. The most dangerous point was at the end of 1998, when the collapse probability was above 90 percent. This result called to doubt the IMF’s July packet 1998 and revealed the political aspects of this financial help

    The Green Investment Report: The Ways and Means to Unlock Private Finance for Green Growth

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    This report is a first step by the Green Growth Action Alliance to deliver on the G20 Leaders' request. It aims to provide a common point of reference to guide policy-makers, financial institutions and investors as they seek to better understand, and address, the global gap in green investment. This report documents and synthesizes the best available green investment data, research and case studies from a number of leading organizations, including Bloomberg New Energy Finance, the Climate Policy Initiative, the International Energy Agency, the Organization of Economic Cooperation and Development, the United Nations Environment Programme, the World Bank Group and the World Resources Institute, and provides important messages for different groups of stakeholders. New analysis is also presented on clean-energy asset finance flows, the findings of which can be used to guide investment decisions and priorities in other sectors

    An Overview and Examination of the Indian Services Sector

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    India’s service sector has grown rapidly since the 1990s. Domestic demand for services has increased as incomes have risen, triggering the expansion of industries such as banking, education, and telecommunications. Exports have also increased rapidly, led by information technology and business process outsourcing (IT-BPO). India’s ability to offer low-cost, high-quality IT-BPO services has made it a world leader in this industry. However, employment in services has not grown as quickly as output. The majority of India’s jobseekers are low-skilled, but demand for workers is growing fastest in higher-skill industries. The supply of highly-skilled workers has not kept pace with demand, causing wages to increase faster for these workers than for lower-skilled ones. India’s government has supported the growth of service industries through a mix of deregulation, liberalization, and incentive programs, such as the Software Technology Parks of India. Nevertheless, burdensome regulations, poor infrastructure, and foreign investment restrictions continue to affect service firms’ ability to do business. USITC analysis suggests that additional liberalization would lead to an increase in India’s imports of services

    Connected Women: How Mobile Can Support Women's Economic and Social Empowerment

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    This report explores how mobile services provided by Vodafone and the Vodafone Foundation are enabling women to seize new opportunities and improve their lives. Accenture Sustainability Services were commissioned to conduct research on the services and to assess their potential social and economic impact if they were widely available across Vodafone's markets by 2020. It showcases the projects and the work of those involved and also poses the question -- what would the benefit to women and to society at large be if projects such as these were taken to scale and achieved an industrialscale of growth? This reflects the Foundation's commitment not solely to the development of pilots but rather the Trustees' ambition to see projects which lead to transformational change. In order to understand this more deeply, the Report looks at the benefits for women and society and providessome financial modelling for how the engagement of commercial players could achieve industrial, sustainable growth in these areas. Accenture has provided the modelling and, given the public benefit and understanding which the report seeks to generate, these are shared openly for all in the mobile industry to understand and share. It is the Trustees' hope that the collaboration with Oxford University and Accenture in the delivery of this Report will stimulate not only the expansion of existing charitable programmes but will also seed other philanthropic, social enterprise or commercial initiatives

    Financial Risks of Investments in Coal

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    Analyzes the regulatory, commodity, and construction risks of investing in coal mining and coal-fired power plants. Examines industry analysts' consensus on viable alternatives to coal, including natural gas, solar, wind, and energy efficiency

    The political economy of decarbonisation: exploring the dynamics of South Africa’s electricity sector

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    South Africa’s coal-dominated electricity sector, a key feature of the country’s minerals-energy complex, is in crisis and subject to change. This offers potential opportunities for decarbonisation. Despite positive examples of decarbonisation in South Africa’s electricity sector, such as a procurement programme for renewable energy, there are structural path dependencies linked to coal-fired generation and security of supply. Decarbonisation goes far beyond what is technologically or even economically feasible, to encompass a complexity of political, social and economic factors. Meanwhile, decision-making in electricity is highly politicised and lack of transparency and power struggles in the policy sphere pose key challenges. Such power struggles are reflected in national debates over which technologies should be prioritised and the institutional arrangements that should facilitate them
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