Academic literature on the topic 'Economic and policy barrier'

When mentioning free trade the topic of economic sanctions is seldom mentioned. However, governments of the developed world, especially the United States, have used economic sanctions as a foreign policy tool to compel other countries to change their behavior. The increasing use of economic sanctions as a form of foreign policy is not without cost, however, and that cost is borne by citizens of sanctioned countries and businesses who find international markets closed to them, either entirely or in part. In addition, consumers pay a price through less choice and higher prices. Economic sanctions are barriers to free trade and interfere with the free flow of goods and services. This case examines the current state of economic sanctions imposed by the United States and explores sanctions imposed on Cuba, Myanmar and Iran; three heavily sanctioned countries which recently have experienced a change in U.S. foreign policy action, yet still suffer from trade restrictions.

Abstract This policy note highlights the costs of sending a child to school in Ireland and explores the extent to which these represent a significant economic barrier to schooling for low-income families. It also evaluates the efforts to reduce early school leaving and examines the increasing commodification of education in Ireland.

Access to fitness and recreation facilities is an important issue for people with disabilities. Although policy and legislation have helped to remove various environmental barriers, there remain a substantial number of inaccessible features in fitness and recreation facilities. This article presents an approach for improving the accessibility of fitness and recreation environments that enables participation and input from members of the community, as well as persons with expertise in accessibility. Through a collaboration between facilities, persons with disabilities and accessibility consultants, the approach provides a process of incremental change through readily achievable barrier removal and by providing an information and educational resource concerning barrier removal, disability awareness, and economic and information resources. Technology is incorporated to facilitate accessibility assessment, interaction between various stakeholders, and the creation of an accessibility solutions database. Policy implications of this approach are discussed.

The author analyzes the influence of heterogeneity of religious-ethnic structure on economic growth. Most studies show that extraordinary national-religious diversification has a negative impact on economic performance of countries. However, the institutional arrangements that involve a significant degree of decentralization may be a factor of relaxation of ethnic and religious, i.e. political animosity. Positive economic experiences of some institutional and ethnically complex countries show that the single economic policy is possible and that strong the national heterogeneity is not necessarily a negative factor for economic development if there are viable democratic institutions.

Rural entrepreneurship and enterprise development can stimulate local economic growth,engage young people, and recreate community’s vitality. A lively, growing rural community willencourage further growth of the regions and entrepreneurship is one of the leveraging instruments for unify a disproportion in socio-economic development of Polish regions.The paper analyses the development of non-agricultural economic activity on rural areas andshows the chances and barriers for rural entrepreneurship’s increase.Research conducted in 76 villages shows that the most popular non-rural economic activityon rural areas is trading and most of the activities have local extent. Lack of the funds forlaunching a company is the great barrier to further development of rural entrepreneurship andstructural policy instruments can be a chance to improve this situation.

The fluctuating wind pressure generated when a high-speed train passes through the noise barrier will cause deformation and damage to the noise barrier, affecting the safety of train operation and causing serious economic losses. In this paper, a research method for the dynamic response of noise barriers is proposed, and a comparative study of vertical noise barriers and semi-enclosed noise barriers is carried out. The study shows that when trains pass through the noise barrier, the fluctuating wind pressure on the surface of the two different types of noise barriers both exhibit the characteristics of head and tail waves; the time course curve of fluctuating wind pressure has the same change rule, the wind pressure reaches the maximum value at the bottom measuring point, the maximum value of fluctuating wind positive pressure and negative pressure of the semi-closed noise barrier is larger than that of the vertical noise barrier. In terms of natural frequency, the natural frequency range of the vertical noise barrier is 16~85 Hz, and the natural frequency range of the semi-enclosed noise barrier is 3~13 Hz. The natural frequency of the semi-enclosed noise barrier partially coincides with the main frequency of fluctuating wind pressure, which may lead to resonance damage. When the train speed is raised from 200 km/h to 350 km/h, the maximum equivalent force of the semi-enclosed noise barrier reaches 17.21 Mpa, which is much larger than the maximum equivalent force of the vertical noise barrier. At the same time, the displacement of the two noise barriers increases with the height of the noise barrier, and the maximum displacement of the semi-closed noise barrier unit board reaches 3.63 mm, which is much larger than that of the vertical noise barrier unit board.

The importance to environmental policy of improving energy efficiency is now widely agreed. It is also well established that levels of energy efficiency are below the optimum for economic efficiency, i.e. there are market barriers to energy efficiency. Neo-c1assical economic theory provides a taxonomy of the barriers in terms of market failure and can evaluate short term policy options to address them. However, this paradigm does not explain the underlying causes or why all the market failures act in the direction of lower energy efficiency. Economic analysis alone cannot identify long term, sustainable approaches to removing the barriers; input is needed from other disciplines. A review of the multi-disciplinary literature identifies some common elements in the nature of the barriers: a dichotomy between producers and consumers, centralisation in energy supply and planning, a commodity view of energy, and complexity of energy efficiency markets. It is concluded that these are fundamental characteristics of energy use in a modem economy. They constitute a meta-barrier - a framework in which the other barriers can be described. Barriers to energy efficiency therefore remain deeply entrenched and, in the short term, optimisation of energy efficiency is unlikely. However, future changes in technology, market structures and institutions may open new opportunities to address the fundamental problems in the longer term.

This paper examined the hidden demographic barriers of economic growth. The study used a cross-sectional survey researches design. The primary data were collected by using a psychometric scale from 211 individuals who were randomly sampled from the Mwanza and Kagera regions in Tanzania. The data were linearly analysed by the weighted least squares (WLS) and Analysis weighted- automatic linear modelling (AW-ALM), and non-linearly analysed by Gaussian mixture model (GMM) and neural network analysis (NNA). The study found that the main hidden demographic barrier to economic growth is the negative subjective well-being of an individual’s current age and education level. Moreover, the GMM revealed that there is no significant data or regional clusters or classes in the study population. Furthermore, NNA evidenced the most effective predictor of economic growth is age, followed by education. The study concluded that the most hidden demographic factors that hinder economic growth are negative perceptions of an individual on his/her current age and level of education, not the age maturity, and education level. Operationally or practically, the paper implicates several socio-economical policies, mostly the national aging policy (NAP), the National Education and Training policy (NETP), the National Employment Policy (NEP), and regulations /laws on national social security funds schemes at national, regional and global levels. Therefore, the paper recommended that government and other education stakeholders increase the policy commitment on the mathematics, science, and technology subjects to be compulsory for primary and secondary schools, and the extension of the retirement age from 60 years (voluntary) to 65 years (compulsory)

As a sustainable and cleaner type of facility, prefabricated buildings face more design barriers than traditional non-prefabricated buildings. Identifying and managing these barriers is key to improving the success rate of prefabricated building design. However, direct studies on these design barriers are extremely rare. The present study solved this problem by combining multiple methods, including grounded theory (GT), structured self-intersection matrix (SSIM), analytic network process (ANP), and the linear weighted sum method (LWSM). GT was adopted to identify the barriers to prefabricated building design and then SSIM was used to analyze the interactions among them. The eight design barriers were finally identified and classified into three clusters: technical barriers, economic barriers, and management barriers. A further analysis found that there is dependence and feedback among these clusters. The technical barrier cluster and management barrier cluster experience self-feedback. A network model based on ANP was next established to calculate the weights of the barrier elements and then this model was combined with LWSM to evaluate the overall design barrier strength of a project case. The results showed that architectural individualization has the greatest impact on prefabricated building design, followed by the collaborative issues among multiple units and professional designer issues. The overall design barrier strength of the project case was larger. Therefore, the first suggestion provided to the facility management sector is to establish a library for standard house types to achieve architectural design through multihouse combinations.

This dissertation examines the tension inherent in the relationship between the Economic Community of West African States (ECOWAS) as Member States Parties of the GATT/WTO and the GATT/WTO regime. It focuses specifically on the tension triggered off by the requirements of Article I – the Most-Favoured-Nation principle (MFN) and Article III – the National Treatment principle (NT) GATT 1994. It shows that while the non-discrimination principles are meant to promote trade liberalisation and economic growth, they produce the opposite effect in developing and least developed countries like ECOWAS and aggravate the tension between those countries and the WTO. It argues that the MFN is used to deny market access to the developing countries by exposing them to stiff but unequal competitive conditions and the NT to deny national governments the policy space to protect and promote national industries, employment and economic growth. It challenges the general assumption that the MFN and the NT are good and in the interest of all the WTO Members and rather identifies them as lynch-pins of economic development in the ECOWAS region. It also shows, contrary to the assumption of non-participation, how the ECOWAS High Contracting Parties are adapting their trading systems and harmonising their laws to the key provisions of Articles I and III of the GATT. It shows that the principles of non-discrimination are the outcome of the standard-setting procedures legally formulated as the SPS and TBT Agreements which favour the developed countries and how the Dispute Settlement Body has rejected the ‘aims-and-effect’ approach, taken a literal approach, overly emphasising trade liberalisation to the neglect of market access and economic development. This dissertation concludes that it is pre-mature for ECOWAS to assume Articles I and III obligations and recommends using the provisions of Article XXIV to build up effective influence through regional organisations and incrementally uniting to transform the GATT.

Numerous scholars describe agroforestry as an extraordinary food production system that generates viable ecosystems and accommodates regenerative capabilities. Agroforestry may therefore be a promising solution to the future environmental challenges facing food production. This multifunctional land management system is practised in temperate and tropical regions alike, however, it exists to a remarkably limited extent in Sweden. This research points to the complexities in agricultural and forestry policy as a main barrier for wider agroforestry adoption. The foundation of inquiry is thus to analyze various Swedish legislatives and support systems that either facilitate or adverse agroforestry practice, through the lens of political ecology. The research findings derive from a qualitative study, consisting of conducted interviews with key stakeholders in Swedish agricultural and forestry policy. The study contends that a core obstacle for agroforestry development is the dualistic approach to governmental sectors, i.e. forestry and agriculture, and the lack of coordination between them, since agroforestry cannot be classified as neither . A perpetual policy prioritized towards large-volume crop yields, rapid production, large scale investments, calculative assessments and a competitive business sector is moreover identified. The research asserts that these hegemonic discourses permeating policy, consequently act as a disincentive for agroforestry adoption due to the ofttimes long implementation period, high initial investment and uncertain food market for agroforestry produce. In addition, the study illustrates that cultural expectations of landscape mainly give trees a cultural and environmental value, therein neglecting the multifunctionality of woody vegetation - which hence suggest a lack of a holistic approach to food systems. The thesis finally argues that these hegemonic discourses concerning assessment and management of land, together influence the design of state policy and farmers’ attitude towards agroforestry systems. Overall, current policy regulations portray a rather static and incomplete way of managing the dynamic symbiosis of multifunctional food systems.

Doctor Legum - LLD
This thesis examines the legal framework of Zimbabwe to determine if the laws and policies which are in place create opportunities for, or barriers to, economic development. Specifically, it examines the legal framework governing trade, investment and financial services. The thesis focuses on Zimbabwe as a case study and draws lessons from South Africa. It proceeds from the premise that despite the numerous attempts made at international, regional and domestic levels to increase economic development (such as through liberalisation of markets and access to international development finance), Zimbabwe has failed to attain 'developed country' status. The purpose of the thesis is to examine the causes of poor economic performance in Zimbabwe postindependence (post-1980).

Devalued homes and weakened economic conditions of 2008 led to lost property tax revenues, more vacant and abandoned properties, and destabilized neighborhoods. The first Neighborhood Stabilization Program (NSP1) was a federal intervention designed to mitigate the damage of the recession, but there is scant evidence of program effectiveness. A phenomenological study, using a method outlined by Moustakas, answered questions on the benefits and barriers of NSP1 as perceived by stakeholders in a Mid-Atlantic city. Stakeholders included nonprofit housing advocates, residents, business partners, and government officials. Theories of collaborative governance and community stakeholders were used to guide the investigation of NSP1 processes and stakeholders' perceptions. Ten stakeholders responded to 9 compound interview questions derived from the research question and 4 subquestions in semi-structured interviews. Responses were transcribed, verified for accuracy, and then coded and analyzed for recurring themes. Five prominent themes emerged: (1) challenges with NSP1 guidelines, (2) importance of partner capacity, (3) positive results in targeted neighborhoods, (4) city's approach to community development, and (5) sustaining positive results. Findings were that NSP1's benefits for residents outweighed procedural barriers and NSP1's short duration still yielded positive results in neighborhoods. This study has policy and social change implications for all stakeholders involved. Recommendations include continuous city involvement to stabilize neighborhoods during future recessions and better entrepreneurial strategies to integrate private and non-profit stakeholders in all phases of collaborative governance.

Climate change is expected to be one of the biggest global health threats in the 21st century. In response to changes in climate and associated extreme events, public health adaptation has become imperative. This thesis examined several key issues in this emerging research field. The thesis aimed to identify the climate-health (particularly temperature-health) relationships, then develop quantitative models that can be used to project future health impacts of climate change, and therefore help formulate adaptation strategies for dealing with climate-related health risks and reducing vulnerability. The research questions addressed by this thesis were: (1) What are the barriers to public health adaptation to climate change? What are the research priorities in this emerging field? (2) What models and frameworks can be used to project future temperature-related mortality under different climate change scenarios? (3) What is the actual burden of temperature-related mortality? What are the impacts of climate change on future burden of disease? and (4) Can we develop public health adaptation strategies to manage the health effects of temperature in response to climate change? Using a literature review, I discussed how public health organisations should implement and manage the process of planned adaptation. This review showed that public health adaptation can operate at two levels: building adaptive capacity and implementing adaptation actions. However, there are constraints and barriers to adaptation arising from uncertainty, cost, technologic limits, institutional arrangements, deficits of social capital, and individual perception of risks. The opportunities for planning and implementing public health adaptation are reliant on effective strategies to overcome likely barriers. I proposed that high priorities should be given to multidisciplinary research on the assessment of potential health effects of climate change, projections of future health impacts under different climate and socio-economic scenarios, identification of health cobenefits of climate change policies, and evaluation of cost-effective public health adaptation options. Heat-related mortality is the most direct and highly-significant potential climate change impact on human health. I thus conducted a systematic review of research and methods for projecting future heat-related mortality under different climate change scenarios. The review showed that climate change is likely to result in a substantial increase in heatrelated mortality. Projecting heat-related mortality requires understanding of historical temperature-mortality relationships, and consideration of future changes in climate, population and acclimatisation. Further research is needed to provide a stronger theoretical framework for mortality projections, including a better understanding of socioeconomic development, adaptation strategies, land-use patterns, air pollution and mortality displacement. Most previous studies were designed to examine temperature-related excess deaths or mortality risks. However, if most temperature-related deaths occur in the very elderly who had only a short life expectancy, then the burden of temperature on mortality would have less public health importance. To guide policy decisions and resource allocation, it is desirable to know the actual burden of temperature-related mortality. To achieve this, I used years of life lost to provide a new measure of health effects of temperature. I conducted a time-series analysis to estimate years of life lost associated with changes in season and temperature in Brisbane, Australia. I also projected the future temperaturerelated years of life lost attributable to climate change. This study showed that the association between temperature and years of life lost was U-shaped, with increased years of life lost on cold and hot days. The temperature-related years of life lost will worsen greatly if future climate change goes beyond a 2 °C increase and without any adaptation to higher temperatures. The excess mortality during prolonged extreme temperatures is often greater than the predicted using smoothed temperature-mortality association. This is because sustained period of extreme temperatures produce an extra effect beyond that predicted by daily temperatures. To better estimate the burden of extreme temperatures, I estimated their effects on years of life lost due to cardiovascular disease using data from Brisbane, Australia. The results showed that the association between daily mean temperature and years of life lost due to cardiovascular disease was U-shaped, with the lowest years of life lost at 24 °C (the 75th percentile of daily mean temperature in Brisbane), rising progressively as temperatures become hotter or colder. There were significant added effects of heat waves, but no added effects of cold spells. Finally, public health adaptation to hot weather is necessary and pressing. I discussed how to manage the health effects of temperature, especially with the context of climate change. Strategies to minimise the health effects of high temperatures and climate change can fall into two categories: reducing the heat exposure and managing the health effects of high temperatures. However, policy decisions need information on specific adaptations, together with their expected costs and benefits. Therefore, more research is needed to evaluate cost-effective adaptation options. In summary, this thesis adds to the large body of literature on the impacts of temperature and climate change on human health. It improves our understanding of the temperaturehealth relationship, and how this relationship will change as temperatures increase. Although the research is limited to one city, which restricts the generalisability of the findings, the methods and approaches developed in this thesis will be useful to other researchers studying temperature-health relationships and climate change impacts. The results may be helpful for decision-makers who develop public health adaptation strategies to minimise the health effects of extreme temperatures and climate change.

Infrastructure, such as dams, weirs and culverts, disrupt the longitudinal connectivity of rivers, causing adverse impacts on fish and other species. This compromises the ability of river ecosystems to provide a range of services that contribute to human well-being. Improving fish passage at artificial barriers is an economic river restoration policy option that can improve the delivery of river ecosystem services provision. Whilst a number of methodologies exist to cost-effectively prioritize barriers for mitigation action, there is also now considerable interest in estimating the economic benefits of increased ecosystem service provision from investing in this activity. This is relevant in a number of policy contexts, including the Water Framework Directive in the EU. This thesis presents a novel bio-economic model that addresses the dual problem of prescribing cost optimal river barrier mitigation solutions whilst, simultaneously, estimating the social benefit of undertaking this activity. Minimal cost solutions are obtained for the problem of barrier mitigation decisions using a mixed integer linear program (MILP). The benefit from marginal improvements in river connectivity and fish species responses is then estimated using the Choice Experiment method. Incorporating these benefit estimates into the MILP generates the final bio-economic model. The specific advantage of this approach is it can readily inform cost benefit analysis of river barrier mitigation policy. The methods are demonstrated using the River Wey in South East England, containing over 650 artificial barriers, as a case study. For the case study, the benefits of investing in river barrier mitigation exceed costs at all budget levels, with the most socially efficient level of investment identified as approximately £30M.

Abstract This paper is a contribution to the discussion about globalisation, democracy and development. It proposes revisiting the current multilateral architecture for economic growth and development whilst simultaneously encouraging greater coherence, cooperation and coordination amongst the countries of Southern Africa. Competing conceptual definitions, contextual histories and performance data regarding current institutions and agencies are then presented. The resulting proposals for global reform favours the identification of the critical role played by knowledge, technology and innovation systems in redressing the inequalities and asymmetries of mere 'market-led' development.

A comprehensive literature review was undertaken in order to define and assess the sustainability and resiliency characteristics associated with grass-based and confinement dairy farming. Primarily as a result of reduced input costs, grass-based dairy farming often enhances profitability over confinement systems, especially on small farms. Further, conversion of tilled soil to permanent pasture has been shown to significantly reduce harmful sediment and nutrient transport into waterways. Perennial forage also acts as a carbon sink, curtailing or even negating a grass-based farm's carbon footprint. Finally, social benefits derived from enhanced nutrition and higher quality of life are also associated with grass-based dairy farming. Given that policy goals of the State of Vermont include both bolstering farm viability and reducing farm-related runoff, two questions are then raised. What is the most effective way to incentivize the adoption of rotational grazing in Vermont? And what types of farms are best suited to its use? A series of interviews with dairy experts and farmers was conducted as a preliminary investigation into these questions. This qualitative evidence suggested that farmers generally adopted grass-based dairying after observing a peer's success with the method, suggesting that a key leverage point may be peer-based learning. A behavioral economics game was developed to evaluate the role of peer networks in facilitating decision-making under conditions of uncertainty. A computerized game platform simulated networks of small dairy farm enterprises, with participants acting as farm managers. Treatments varied the size of peer networks, as well as the inclusion of a perfectly-performing automated 'seed player.' Participants could base their decisions upon the successes of their peers. They received a cash incentive based on their farms' performance. Results indicated that players with higher numbers of peers made better economic decisions on average. The inclusion of a 'seed player' within a network, which modeled the ideal behavior, also facilitated better decision-making. Both of these correlations were statistically significant. Furthermore, the shape of the 'diffusion curve' of new adoptees confirmed literature on the dynamics of innovation diffusion. Public policy implications from this work include an increased focus on facilitating peer-to-peer learning among farmers where Best Management Practice adoption is a policy goal. To further evaluate the potential for peer learning to facilitate positive change, the Dairy Farm Transitions Agent Based Model (DFTABM) was developed. The model was calibrated using existing datasets along with the qualitative and quantitative results described above. It forecasts effects on farm profitability, attrition, and soil loss arising from varying assumptions about peer network connectivity, peer emulation, macroeconomic trends, and agri-environmental policy. Nine experimental treatments were assessed. Overall, it was found that high rates of emulation coupled with high rates of connectivity'especially targeted connectivity among smaller farms'yielded the best balance of farm viability and reduction in soil loss. The establishment of a performance-based tax credit had no clear correlation with the resulting soil loss figures predicted by the model. Policy implications from this study include the finding that direct payment schemes for reduction in environmental harm may not always have their intended effects, whereas policies that enhance peer-to-peer learning opportunities, especially among the proprietors of smaller farms, may present an effective and relatively affordable means by which to bolster farm profitability while also reducing environmental degradation.

AbstractEducation is widely recognised as a key factor in improving social mobility and improving life chances. Therefore, this is fundamental to UK education policy which aims to improve outcomes for all children, particularly those from disadvantaged backgrounds. As a result of expansion of the European Union over the past decade, there has been an increase in the number of Central and Eastern European Roma families settling the United Kingdom. Together with indigenous Gypsies and Travellers, Roma families remain some of the most marginalised and disadvantaged families in the UK, with Gypsy and Roma children having the poorest educational outcomes of all pupil groups. An inclusive educational philosophy underpins the UK educational system, however, there is a tension between current austerity measures and outcome driven education policy and the principles of inclusive practice. Whilst there are examples of good practice and inclusive educational experiences for Roma children, some barriers and exclusions are also evident.

Abstract This chapter explores barriers to women's land ownership. It investigates the potential factors behind why women's rights to own land are often ignored despite laws permitting women to own and inherit land. Measures of gender equality are correlated, as presented in the World Economic Forum Global Gender Gap Index 2020 (economic participation and equality, educational attainment, health and survival, and political empowerment) to percentages of land held by women in a nation. Commonalities between case studies on women's land ownership around the world are discussed as well.

AbstractThe transition to “SDG7 -modern and sustainable energy for all” may reconfigure the lives of citizens who live “outside the grid” in the rural communities in sub-Saharan Africa. The decentralization approach for developing renewable energy in sub-Saharan Africa has constantly been promoted as a means to rural electrification. This paper reviews the barriers to private sector participation in decentralized electrification projects and the solutions that have been proposed and implemented. It is not only the economic approaches that are analysed but also some of the solutions or drivers that have contributed to rural electrification. There are specific technological pathways which have proven fruitful in sub-Saharan Africa that are unique to its economic and demographic settings and that otherwise would not be adopted or used in developed countries. This paper finally analyses these technological pathways with the objective of matching the drivers and obstacles to potential solutions. Long term energy planning with the integration of regional power pools is instrumental to reduce CAPEX as well as to increase the market size. Blended financing together with already working technologies such as pay-as-you-go, and mobile money will be the pillars to meeting SDG7 goals.

AbstractThis chapter discusses the macroeconomic impact evaluation of other policies related to innovation. In particular, two examples are shown on the impact simulation of a reduction to firms’ entry barriers and an increase in R&D tax credits. Alternative ways of modelling these two types of policy shocks are also provided to illustrate how different modelling platforms featuring different economic mechanisms can complement each other and enrich the landscape of macroeconomic policy impact assessments.

Conventional fuels such as oil, natural gas, and coal have historically provided reasonable financial returns on investment as well as energy returned on energy invested (EROEI), despite the fact that continuous financial and energy inputs are required to use these fuels. Besides EROEI, the energy intensity ratio (EIR) is another measure for energy use and economics. The EIR is the ratio of energy bought per dollar to the energy it takes to make a dollar in the economy. In this case we are considering the cost of petroleum per barrel, and therefore we are discussing EIRp or EIR of oil based upon price. The EIRp is related to historical economical data and conclusions will be drawn about the value of EIRp as an economic indicator. Then, EIRp will be used as a tool to demonstrate the value of shifting energy resources from petroleum to alternatives, specifically for transportation and petrochemicals. The considerations for modern economic conditions as they compare to historical economic conditions will be explained, and the viability of policy and alternative technological transportation scenarios will be described in terms of EIRp and its relationship to vehicle miles travelled.

An important feature of many rural markets is the over-supply of labour. An insufficient number of jobs in rural areas is usually associated with the shortage of capital, companies, consumers and skilled workers, i.e. limited impact of the agglomeration effect. Additionally, in regions with structural changes in agriculture, the phenomenon of increased or hidden unemployment is visible. One of the important objectives of labour market policy in Poland was a promotion of employment, especially in peripheral, poor and agricultural territories. Along with the accession of Poland to the EU, both agricultural and cohesion policy instruments supported by the structural funds have also been aimed at resolving the problems of rural labour markets. They concerned mainly the diversification of agricultural activities, support of entrepreneurship, as well as development of knowledge and skills. The paper considers the barriers and challenges in increasing employment in rural Poland. In particular, the changes on local rural labour markets and the influence of relevant policy tools thereon have been studied. The study is based on the quantitative and qualitative analysis of the public statistics and information on the implementation of selected EU CAP and Cohesion Policy instruments in Poland from the period 2007-2014 and the literature of the subject. The study showed that, despite the favourable economic situation and the effects of projects aimed at creating and maintaining non-agricultural jobs in rural areas supported by the EU founds, the rural employment rate and the number of people employed in agriculture did not increase significantly. In this context, the paper provides the explanation of limited improvements in terms of rural employment and policy offers recommendations in this area.

AbstractThe urgency for developing a circular economy is growing, and more and more companies and organisations are concerned with the importance of adapting their business to fit a changing economy. However, many analyses on the circular economy are still rather abstract and there is a lack of understanding about what circularity would mean for specific industries. This insufficient insight especially seems to be apparent in the building and construction sector. Besides, the building and construction sector is responsible for a major part of energy use and emissions. To tackle the issue of insufficient insight into the business consequences of circular devlopments, further research is necessary. Therefore, we propose to collaborate on a research project that aims to provide a more detailed level of analysis. The goal is to identify drivers and barriers to make better use of materials in the building and construction sector. This further research would benefit from an international collaboration between universities of applied sciences and industry from different European countries. An additional benefit of the applied orientation would be the relevance for professional education programmes. References CBS, PBL & Wageningen UR. (2017). Vrijkomen en verwerking van afval per doelgroep, 1990-2014 (indicator 0206, versie 13, 26 janauri2017). Retrieved from: https://www.clo.nl/indicatoren/nl0206-vrijkomen-en-verwerking-van-afval-per-doelgroep Cuchí, A.; Arcas, J.; Casals, M. & Fobella, G. (2014). Building a common home Building sector – A global vision report. Produced by the Global Vision Area within the World SB14 Barcelona Conference. De Jesus, A. & Mendonça, S. (2018). Lost in Transition? Drivers and Barriers in the Eco-innovation Road to the Circular Economy. Ecological Economics, 145, 75-89. doi: 10.1016/j.ecolecon.2017.08.001. EC. (2015). Closing the Loop – An EU action plan for the Circular Economy. Brussels: European Commission. EC. (2019). Report from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions on the implementation of the Circualr Economy Action Plan. Brussels: European Commission. Ghisellini, P; Cialini, C. & Ulgiati, S. (2016). A review on circular economy: the expected transition to a balanced interplay of environmental and economic systems. Journal of Cleaner Production, 114, 11-32. doi: 10.1016/j.jclepro.2015.09.007. Kirchherr, J., Pisciceli, L., Bour, R., Kostense-Smit, E., Muller, J., Huibrechtse-Truijens, A. & Hekkert, M. (2018). Barriers to the Circular Economy: Evidence From the European Union (EU). Ecological Economics, 150, 264-272. Mazzucato, M. (2018). Mission-Oriented Research & Innovation in the European Union – A problem-solving approach to fuel innovation-led growth. Retrieved from: European Commission; https://ec.europa.eu/info/sites/info/files/mazzucato_report_2018.pdf Nederland circulair in 2050. Rijksbreed programma Circulaire Economie (2016). Den Haag: Ministerie van Infrastructuur en Milieu & Ministerie van Economische Zaken. Stahel, W.R. (2016) The Circular Economy. Nature, 531(7595), 435-438. UN. (2018). 2018 Global Status Report – Towards a zero-emission, efficient and resilient buildings and construction sector. United Nations Environment Programme. UNCTAD. (2018). Circular Economy: The New Normal (Policy Brief No. 61). Retrieved from United Nations Conference on Trade and Development (UNCTAD): https://unctad.org/en/PublicationsLibrary/presspb2017d10_en.pdf

Abstract The global economy has increased CCUS technology development programmes to attain its commercial deployment, which is expected to be beneficial for developing countries such as Nigeria. This paper aims to examine the barriers to CCUS implementation in Nigeria by investigating the differences between global CCUS and Nigerian status, evaluating the perspectives of industry and government practitioners on the economic barriers to CCUS implementation, and identifying policy and industry strategies to deepen the adoption of CCUS. Study participants were selected using a purposive sampling technique to explore the opinions of personnel working in three oil-related agencies: Nigerian National Petroleum Corporation, Ministry of Petroleum Resources and Nigerian Liquefied Natural Gas. Information collected from existing literature and related reports on CCUS were critically analysed, whereas data from semi-structured interviews were generated by audio-recording of participants’ responses. These responses were transcribed from audio recordings for each participant and quality controlled by ensuring that transcripts matched the respective responses. Transcripts were analysed using thematic analysis, exploring the research theme using both theory and practice. The theoretical framework utilised PESTEL and SWOT analyses to evaluate the macro environment and the internal and external environment of CCUS implementation in Nigeria. PESTEL analysis showed that CCUS implementation in Nigeria is driven by various regulatory and policy frameworks, lack of adequate capital, public acceptance and infrastructure. Similarly, the SWOT analysis showed that Nigeria has enough coal reserves that could serve as a potential for CCUS implementation. However, Nigeria’s weaknesses include lack of expertise in CCUS technology, inadequate capital for CCUS investment and policy summersaults by successive governments. Nigeria should thus consider the introduction of subsidies to mitigate various barriers and challenges that hinder CCUS implementation, e.g., low tax rate for enterprises involved in CCUS implementation. There is also urgent need to improve funding of CCUS implementation through foreign direct investment or by the equity market. Furthermore, the importance for an enhanced technology to deepen the adoption of CCUS in Nigeria can not be overemphasized as the world moves towards decarbonisation and Net Zero.

The central mountain chain, as the name shows, is located in the central part of Taiwan and divides the island into two parts. This makes transportation between Eastern and Western part of Taiwan become very costly and time-consuming. Taiwanese governments, therefore, build a Central Cross-Island Highway in 1956 to overcome this nature barrier, which enlarges the economic development areas among these mountain areas and hugely changes the local landscape and ecological environment. However, with the major earthquake hit in September 21st, 1999, this mountain highway had been severely damaged. Taiwanese government rebuild soon after the earthquake, however, when the typhoon Mindulle struck Taiwan in 2004 and ruined the highway once again. The re-reconstruction of this highway becomes a high profile social issue debating the value among environmental protection, engineering cost of re-reconstruction, and how to save local people’s life and living. So, this paper try to develop a social and environment impact analytical framework, which uses public choice theory into the framework for enlarging the perspective of impact assessment and increasing policy feasibility.

This study explores the regional pattern of association between health risk exposure and resilience outcome in South Asian countries with the outbreak of the Covid-19 pandemic. This exercise unveils the elements of resilience that contribute to getting prepared in confronting COVID-19 risk in South Asia, using secondary information and knowledge from the Governments, WHO, UNDP Human Development Index (HDI), European Commission’s COVID-19 Risk Index and the World Bank’s Air Connectivity Index. Methodology and Scope of the paper differ from previous contributions from a holistic policy point of view, since human development, geo-demographic vulnerability, government effectiveness and socio-economic outcome variables are considered in context to the public health condition and epidemic risk at the national level. Based on statistical evidence, South Asian countries fall into three categories (i) high resilient with low pandemic impact (Maldives, Bhutan and Sri Lanka), (ii) Medium resilient having a high impact (India and Bangladesh) and (iii) Low resilient but high impact (Pakistan, Afghanistan and Nepal). Beyond resilience, this study also flags geo-demographic issues such as population density, geographical isolation either being an island or landlocked mountainous countries and air travel connectivity as influencing or barrier factors in the spreading of epidemic disease. This paper serves the purpose of designing risk-informed effective policy responses to constrain negative effects of future pandemics and similar infectious diseases and sensitize countries to get prepared for “build back better” as well.

In recent years, increasing number of historical and cultural districts are planned top-down as economic space in China. New economic activities have proliferated in these areas, even though original residents, some of them elderly, still live there. These new activities increase the complexity of such districts and bring about a series of conflicts, such as conflicts between economic space and life space and between visitors and residents. Hybrid space, which is a mixture of economic space and life space, is essential because it provides leisure zones for people to live, relax, communicate and consume in. However, inclusive design for hybrid space is seldom discussed. Using Yong Qing Fang-a historical and cultural area of Guangzhou-as a case study, this research defines ‘hybrid space’ and explores the conflicts between economic space and life space within hybrid space. By adopting the qualitative research methods of field observations, three types of conflicts of hybrid space are addressed and the barriers to and opportunities for inclusive design strategies for hybrid space are identified. Based on these findings, some suggestions are provided for researchers, urban planners and policy-makers to consider in combining the economic space and life space within hybrid districts in an inclusive way, and a framework is presented for the evaluate of inclusive design for hybrid space.

Abstract OBJECTIVE/SCOPE Interest in Floating Offshore Wind Farm (FOWF) is regaining momentum as countries and energy producers vie for economic and innovative solutions to decarbonize products and operations with net zero targets in perspective. Typically tapping offshore wind is costlier in comparison to land based solutions, despite the flexibility it offers due to remote operations away from populated areas. Floating wind farms offer an attractive mix of flexibility and cost effectiveness by eliminating the need for large supporting structures and enabling further deep-sea installations and access to stronger winds. While floating wind turbine technology is promising, it needs further maturation along with favorable policy implementation on the part of regulators to make floating wind farms attractive to operators/investors. This paper investigates Technology, Project Management challenges and opportunities from a large, Joint Venture capital project context with net zero target perspectives. METHODS, PROCEDURES, PROCESS Conceptually, floating wind energy is generated by a cluster of floating wind turbines, as against conventional fixed-bottom turbines which account for the majority of wind installations today. Several recent technological advancements have led to innovative floating wind solutions and also driven the costs downward. However, technological challenges like mooring and anchoring systems suited for harsh environments and policy challenges still present barriers to increased investment decisions. In both cases, synergies could potentially be harnessed from existing Oil & Gas deep sea technology. This paper will attempt to address such technology and policy challenges, as well as project management perspectives in maturing floating wind technology. Further, the project development lifecycle will be analyzed from stakeholder and risk management, technology maturation, decision making, and complexity management perspectives. RESULTS, OBSERVATIONS, CONCLUSIONS While alleviating cost and flexibility challenges related to stick-built fixed-base solutions, floating technologies may have strategic potential to unlock the full potential of offshore wind and to serve as a vehicle to achieve green transition goals. This paper summarizes the potential risks and opportunities from political, economic, socio-cultural, technological, legal and environmental (PESTLE) points of view. Potential stakeholder influences and a decision quality matrix will be identified and documented. FOWF, PESTLE, Project Management, Complexity Management

El trabajo analiza los orígenes del barrio de Valdeacederas en el siglo XIX y su desarrollo a través de los planos urbanísticos hasta la actualidad. Se analiza la operación de IVIMA (1986-2002), parte del programa Barrios en Remodelación, realizada en una pequeña zona de Valdeacederas. Se indaga en el futuro del barrio, que actualmente incluye una política de demolición de edificios antiguos y su sustitución por edificios de gran altura. Para la mejora del barrio se propone la revitalización de los pequeños espacios públicos, abundantes pero en estado de abandono, que contribuiría al enriquecimiento de carácter del barrio. Valdeacederas es de gran importancia para Madrid, por su valor cultural e histórico y su carácter único, por lo que la mejor solución para el barrio es la reconstrucción integral de las edificaciones existentes y el fortalecimiento de los lazos culturales y económicos entre el barrio y el resto de la ciudad. This paper analyzes the origins of neighbourhood of Valdeacederas in the 19th century, its evolution and position in urban planning until the present day. It also discusses housing development operation, conducted by IVIMA (Madrid Housing Institute) from 1986 - 2002 in a small area of Valdeacederas, as part of social housing programme Barrios en Remodelación. Another issue explored is the possible future of this neighbourhood, endangered by a policy of demolishing of old hoses and their replacement by high - rise buildings. Finally, the adaptive reuse of various small public spaces found in Valdeacederas is proposed, as a way to change the gloomy face of this neglected urban area and enrich its character and diversity. The author takes position that the best solution for Valdeacederas, unique for its cultural and historical value, is comprehensive regeneration of existing urban structures and consolidation of cultural and economic bonds between the neighbourhood and the rest of Madrid.

Coral reefs are one of the most diverse and valuable ecosystems on Earth. The Mesoamerican Reef contains the largest barrier reef in the Western Hemisphere. However, its health is threatened, so there is a need for a management and sustainable conservation. Key to this is knowing the economic value of the ecosystem. “Mainstreaming the value of natural capital into policy decision-making is vital” The value of environmental and natural resources reflects what society is willing to pay for a good or service or to conserve natural resources. Conventional economic approaches tended to view value only in terms of the willingness to pay for raw materials and physical products generated for human production and consumption (e.g. fish, mining materials, pharmaceutical products, etc.). As recognition of the potential negative impacts of human activity on the environment became more widespread, economists began to understand that people might also be willing to pay for other reasons beyond the own current use of the service (e.g. to protect coral reefs from degradation or to know that coral reefs will remain intact in the future). As a result of this debate, Total Economic Value (TEV) became the most widely used and commonly accepted framework for classifying economic benefits of ecosystems and for trying to integrate them into decision-making. This report estimates the economic value of the following goods and services provided by the MAR's coral reefs: Tourism & Recreation, Fisheries, Shoreline protection. To our knowledge, the inclusion of non-use values in the economic valuation of the Mesoamerican Barrier Reef System is novel, which makes the study more comprehensive.

1.1 Macroeconomic summary Economic recovery has consistently outperformed the technical staff’s expectations following a steep decline in activity in the second quarter of 2020. At the same time, total and core inflation rates have fallen and remain at low levels, suggesting that a significant element of the reactivation of Colombia’s economy has been related to recovery in potential GDP. This would support the technical staff’s diagnosis of weak aggregate demand and ample excess capacity. The most recently available data on 2020 growth suggests a contraction in economic activity of 6.8%, lower than estimates from January’s Monetary Policy Report (-7.2%). High-frequency indicators suggest that economic performance was significantly more dynamic than expected in January, despite mobility restrictions and quarantine measures. This has also come amid declines in total and core inflation, the latter of which was below January projections if controlling for certain relative price changes. This suggests that the unexpected strength of recent growth contains elements of demand, and that excess capacity, while significant, could be lower than previously estimated. Nevertheless, uncertainty over the measurement of excess capacity continues to be unusually high and marked both by variations in the way different economic sectors and spending components have been affected by the pandemic, and by uneven price behavior. The size of excess capacity, and in particular the evolution of the pandemic in forthcoming quarters, constitute substantial risks to the macroeconomic forecast presented in this report. Despite the unexpected strength of the recovery, the technical staff continues to project ample excess capacity that is expected to remain on the forecast horizon, alongside core inflation that will likely remain below the target. Domestic demand remains below 2019 levels amid unusually significant uncertainty over the size of excess capacity in the economy. High national unemployment (14.6% for February 2021) reflects a loose labor market, while observed total and core inflation continue to be below 2%. Inflationary pressures from the exchange rate are expected to continue to be low, with relatively little pass-through on inflation. This would be compatible with a negative output gap. Excess productive capacity and the expectation of core inflation below the 3% target on the forecast horizon provide a basis for an expansive monetary policy posture. The technical staff’s assessment of certain shocks and their expected effects on the economy, as well as the presence of several sources of uncertainty and related assumptions about their potential macroeconomic impacts, remain a feature of this report. The coronavirus pandemic, in particular, continues to affect the public health environment, and the reopening of Colombia’s economy remains incomplete. The technical staff’s assessment is that the COVID-19 shock has affected both aggregate demand and supply, but that the impact on demand has been deeper and more persistent. Given this persistence, the central forecast accounts for a gradual tightening of the output gap in the absence of new waves of contagion, and as vaccination campaigns progress. The central forecast continues to include an expected increase of total and core inflation rates in the second quarter of 2021, alongside the lapse of the temporary price relief measures put in place in 2020. Additional COVID-19 outbreaks (of uncertain duration and intensity) represent a significant risk factor that could affect these projections. Additionally, the forecast continues to include an upward trend in sovereign risk premiums, reflected by higher levels of public debt that in the wake of the pandemic are likely to persist on the forecast horizon, even in the context of a fiscal adjustment. At the same time, the projection accounts for the shortterm effects on private domestic demand from a fiscal adjustment along the lines of the one currently being proposed by the national government. This would be compatible with a gradual recovery of private domestic demand in 2022. The size and characteristics of the fiscal adjustment that is ultimately implemented, as well as the corresponding market response, represent another source of forecast uncertainty. Newly available information offers evidence of the potential for significant changes to the macroeconomic scenario, though without altering the general diagnosis described above. The most recent data on inflation, growth, fiscal policy, and international financial conditions suggests a more dynamic economy than previously expected. However, a third wave of the pandemic has delayed the re-opening of Colombia’s economy and brought with it a deceleration in economic activity. Detailed descriptions of these considerations and subsequent changes to the macroeconomic forecast are presented below. The expected annual decline in GDP (-0.3%) in the first quarter of 2021 appears to have been less pronounced than projected in January (-4.8%). Partial closures in January to address a second wave of COVID-19 appear to have had a less significant negative impact on the economy than previously estimated. This is reflected in figures related to mobility, energy demand, industry and retail sales, foreign trade, commercial transactions from selected banks, and the national statistics agency’s (DANE) economic tracking indicator (ISE). Output is now expected to have declined annually in the first quarter by 0.3%. Private consumption likely continued to recover, registering levels somewhat above those from the previous year, while public consumption likely increased significantly. While a recovery in investment in both housing and in other buildings and structures is expected, overall investment levels in this case likely continued to be low, and gross fixed capital formation is expected to continue to show significant annual declines. Imports likely recovered to again outpace exports, though both are expected to register significant annual declines. Economic activity that outpaced projections, an increase in oil prices and other export products, and an expected increase in public spending this year account for the upward revision to the 2021 growth forecast (from 4.6% with a range between 2% and 6% in January, to 6.0% with a range between 3% and 7% in April). As a result, the output gap is expected to be smaller and to tighten more rapidly than projected in the previous report, though it is still expected to remain in negative territory on the forecast horizon. Wide forecast intervals reflect the fact that the future evolution of the COVID-19 pandemic remains a significant source of uncertainty on these projections. The delay in the recovery of economic activity as a result of the resurgence of COVID-19 in the first quarter appears to have been less significant than projected in the January report. The central forecast scenario expects this improved performance to continue in 2021 alongside increased consumer and business confidence. Low real interest rates and an active credit supply would also support this dynamic, and the overall conditions would be expected to spur a recovery in consumption and investment. Increased growth in public spending and public works based on the national government’s spending plan (Plan Financiero del Gobierno) are other factors to consider. Additionally, an expected recovery in global demand and higher projected prices for oil and coffee would further contribute to improved external revenues and would favor investment, in particular in the oil sector. Given the above, the technical staff’s 2021 growth forecast has been revised upward from 4.6% in January (range from 2% to 6%) to 6.0% in April (range from 3% to 7%). These projections account for the potential for the third wave of COVID-19 to have a larger and more persistent effect on the economy than the previous wave, while also supposing that there will not be any additional significant waves of the pandemic and that mobility restrictions will be relaxed as a result. Economic growth in 2022 is expected to be 3%, with a range between 1% and 5%. This figure would be lower than projected in the January report (3.6% with a range between 2% and 6%), due to a higher base of comparison given the upward revision to expected GDP in 2021. This forecast also takes into account the likely effects on private demand of a fiscal adjustment of the size currently being proposed by the national government, and which would come into effect in 2022. Excess in productive capacity is now expected to be lower than estimated in January but continues to be significant and affected by high levels of uncertainty, as reflected in the wide forecast intervals. The possibility of new waves of the virus (of uncertain intensity and duration) represents a significant downward risk to projected GDP growth, and is signaled by the lower limits of the ranges provided in this report. Inflation (1.51%) and inflation excluding food and regulated items (0.94%) declined in March compared to December, continuing below the 3% target. The decline in inflation in this period was below projections, explained in large part by unanticipated increases in the costs of certain foods (3.92%) and regulated items (1.52%). An increase in international food and shipping prices, increased foreign demand for beef, and specific upward pressures on perishable food supplies appear to explain a lower-than-expected deceleration in the consumer price index (CPI) for foods. An unexpected increase in regulated items prices came amid unanticipated increases in international fuel prices, on some utilities rates, and for regulated education prices. The decline in annual inflation excluding food and regulated items between December and March was in line with projections from January, though this included downward pressure from a significant reduction in telecommunications rates due to the imminent entry of a new operator. When controlling for the effects of this relative price change, inflation excluding food and regulated items exceeds levels forecast in the previous report. Within this indicator of core inflation, the CPI for goods (1.05%) accelerated due to a reversion of the effects of the VAT-free day in November, which was largely accounted for in February, and possibly by the transmission of a recent depreciation of the peso on domestic prices for certain items (electric and household appliances). For their part, services prices decelerated and showed the lowest rate of annual growth (0.89%) among the large consumer baskets in the CPI. Within the services basket, the annual change in rental prices continued to decline, while those services that continue to experience the most significant restrictions on returning to normal operations (tourism, cinemas, nightlife, etc.) continued to register significant price declines. As previously mentioned, telephone rates also fell significantly due to increased competition in the market. Total inflation is expected to continue to be affected by ample excesses in productive capacity for the remainder of 2021 and 2022, though less so than projected in January. As a result, convergence to the inflation target is now expected to be somewhat faster than estimated in the previous report, assuming the absence of significant additional outbreaks of COVID-19. The technical staff’s year-end inflation projections for 2021 and 2022 have increased, suggesting figures around 3% due largely to variation in food and regulated items prices. The projection for inflation excluding food and regulated items also increased, but remains below 3%. Price relief measures on indirect taxes implemented in 2020 are expected to lapse in the second quarter of 2021, generating a one-off effect on prices and temporarily affecting inflation excluding food and regulated items. However, indexation to low levels of past inflation, weak demand, and ample excess productive capacity are expected to keep core inflation below the target, near 2.3% at the end of 2021 (previously 2.1%). The reversion in 2021 of the effects of some price relief measures on utility rates from 2020 should lead to an increase in the CPI for regulated items in the second half of this year. Annual price changes are now expected to be higher than estimated in the January report due to an increased expected path for fuel prices and unanticipated increases in regulated education prices. The projection for the CPI for foods has increased compared to the previous report, taking into account certain factors that were not anticipated in January (a less favorable agricultural cycle, increased pressure from international prices, and transport costs). Given the above, year-end annual inflation for 2021 and 2022 is now expected to be 3% and 2.8%, respectively, which would be above projections from January (2.3% and 2,7%). For its part, expected inflation based on analyst surveys suggests year-end inflation in 2021 and 2022 of 2.8% and 3.1%, respectively. There remains significant uncertainty surrounding the inflation forecasts included in this report due to several factors: 1) the evolution of the pandemic; 2) the difficulty in evaluating the size and persistence of excess productive capacity; 3) the timing and manner in which price relief measures will lapse; and 4) the future behavior of food prices. Projected 2021 growth in foreign demand (4.4% to 5.2%) and the supposed average oil price (USD 53 to USD 61 per Brent benchmark barrel) were both revised upward. An increase in long-term international interest rates has been reflected in a depreciation of the peso and could result in relatively tighter external financial conditions for emerging market economies, including Colombia. Average growth among Colombia’s trade partners was greater than expected in the fourth quarter of 2020. This, together with a sizable fiscal stimulus approved in the United States and the onset of a massive global vaccination campaign, largely explains the projected increase in foreign demand growth in 2021. The resilience of the goods market in the face of global crisis and an expected normalization in international trade are additional factors. These considerations and the expected continuation of a gradual reduction of mobility restrictions abroad suggest that Colombia’s trade partners could grow on average by 5.2% in 2021 and around 3.4% in 2022. The improved prospects for global economic growth have led to an increase in current and expected oil prices. Production interruptions due to a heavy winter, reduced inventories, and increased supply restrictions instituted by producing countries have also contributed to the increase. Meanwhile, market forecasts and recent Federal Reserve pronouncements suggest that the benchmark interest rate in the U.S. will remain stable for the next two years. Nevertheless, a significant increase in public spending in the country has fostered expectations for greater growth and inflation, as well as increased uncertainty over the moment in which a normalization of monetary policy might begin. This has been reflected in an increase in long-term interest rates. In this context, emerging market economies in the region, including Colombia, have registered increases in sovereign risk premiums and long-term domestic interest rates, and a depreciation of local currencies against the dollar. Recent outbreaks of COVID-19 in several of these economies; limits on vaccine supply and the slow pace of immunization campaigns in some countries; a significant increase in public debt; and tensions between the United States and China, among other factors, all add to a high level of uncertainty surrounding interest rate spreads, external financing conditions, and the future performance of risk premiums. The impact that this environment could have on the exchange rate and on domestic financing conditions represent risks to the macroeconomic and monetary policy forecasts. Domestic financial conditions continue to favor recovery in economic activity. The transmission of reductions to the policy interest rate on credit rates has been significant. The banking portfolio continues to recover amid circumstances that have affected both the supply and demand for loans, and in which some credit risks have materialized. Preferential and ordinary commercial interest rates have fallen to a similar degree as the benchmark interest rate. As is generally the case, this transmission has come at a slower pace for consumer credit rates, and has been further delayed in the case of mortgage rates. Commercial credit levels stabilized above pre-pandemic levels in March, following an increase resulting from significant liquidity requirements for businesses in the second quarter of 2020. The consumer credit portfolio continued to recover and has now surpassed February 2020 levels, though overall growth in the portfolio remains low. At the same time, portfolio projections and default indicators have increased, and credit establishment earnings have come down. Despite this, credit disbursements continue to recover and solvency indicators remain well above regulatory minimums. 1.2 Monetary policy decision In its meetings in March and April the BDBR left the benchmark interest rate unchanged at 1.75%.

This report shows that Latin America and the Caribbean faces critical policy challenges going forward. It must accelerate the digital transformation to allow businesses and consumers to adapt to a new normal and leverage pandemic recovery to create stronger economies, and also tackle long-standing barriers to adopting digital technologies and bridging digital divides. These have impeded sustained and equitable economic growth even before the pandemic struck. This crisis should be a wake-up call for governments, the private sector, civil society, and international development partners to come together and take concerted actions to advance on consistent, long-term, and sustainable e-commerce strategies that are at the forefront of national and regional productive development agendas. Just as digital solutions allowed countries to overcome the increased role of distance within the context of the pandemic in shaping consumption and business, they should also be harnessed to increase regional economic integration beyond this emergency situation.

We study how policies that facilitate firm digital adoption shape the labor market and economic recovery from COVID-19 in a search and matching framework with firm entry and exit where salaried firms can adopt digital technologies and the labor market and firm structure embodies key features of Latin American economies. Using Mexico as a case study, we first show that the model quantitatively replicates the dynamics of the labor market and output at the onset of the COVID recession and in its aftermath, including the sharp decline in labor force participation and informal employment that is unique to the COVID recession. We then show that a policy-induced permanent reduction in the barriers to adopting digital technologies introduced at the trough of the recession bolsters the recovery of GDP, total employment, and labor income, and leads to a larger expansion in the share of formal employment compared to the no-policy scenario. In the long run, the economy exhibits a long-run reduction in total employment and labor force participation, but higher levels of GDP and labor income, greater average firm productivity, a larger formal employment share, and a marginally lower unemployment rate.

The goals of the Paris Agreement and the 2030 Agenda for Sustainable Development tightly interlink across social, technical and economic spheres. Achieving them requires swift and vigorous action by policymakers now. An integrated approach to climate and development policy planning is essential to capitalize on synergies among goals and to avoid achieving some goals at the expense of others. Such integrated planning requires accessible, quantitative tools that can compare policy options, and analyse impacts on Sustainable Development Goals (SDGs) and climate mitigation. This brief outlines recent improvements to SEI’s pioneering Low Emissions Analysis Platform (LEAP), which, to the best of the authors’ knowledge, is the lone available tool that meets these criteria. The brief also highlights SEI’s work to advance integrated planning through a dedicated initiative to expand the LEAP tool’s capabilities and to train planners in low-and middle-income countries to build their in-country capacity.