blic Disclosure Auth olic Disclosure Authorize ERIA ECONOMIC 5th Edition | June 2024 Powering Growth with Reliable, Affordable and Sustainable Energy Access ORLD BANK GROUP croeconomics, Trade & Investment olic Disclosure Authorize c Disclosure Author © 2024 The World Bank 1818 H Street NW, Washington DC 20433 Telephone: 202-473-1000; Internet: www.worldbank.org Some rights reserved This work is a product of the staff of The World Bank. The findings, interpretations, and conclusions expressed in this work d ...

Policy Research Working Paper 10904 Public Disclosure Authorized Public Disclosure Authorized Regional Convergence in Brazil Kaleb Abreha Rafael Ornelas Gabriel Zaourak Macroeconomics, Trade and Investment Global Practice September 2024 Public Disclosure Authorized Public Disclosure Authorized Policy Research Working Paper 10904 Abstract This paper examines whether labor productivity converged across Brazil's states ("departments") between 2002 and 2018. The results show strong evidence of unconditional con ...

Investment Rating - The report does not explicitly provide an investment rating for the industry but emphasizes the need for increased investment in climate resilience and adaptation in fragile and conflict-affected situations [19][22][39]. Core Insights - Fragile and conflict-affected situations (FCS) are projected to house two-thirds of the global extreme poor by 2030, highlighting the urgent need for targeted interventions [16][22]. - Climate change acts as a threat multiplier, exacerbating existing vulnerabilities and increasing the risk of conflict and instability in FCS [18][26]. - The report underscores the importance of integrating conflict-sensitive approaches into climate financing to ensure that interventions do not inadvertently exacerbate tensions [82][84]. Summary by Sections Introduction - FCS face significant development challenges, with violent conflict and climate change compounding risks and impacts [16][18]. - The report notes that 80% of humanitarian financing is directed towards regions experiencing violent conflict [16]. Methodology - The analysis categorizes FCS based on their historical classification and examines climate risks and conflict trends from 2006 to 2023 [19][20]. Addressing Fragility and Conflict in Financing for Development - The report highlights that over 67% of IDA borrowing nations are on the FCS list, indicating a strong correlation between fragility and vulnerability to climate change [23]. - The GDP of FCS countries is expected to be 7.5% below pre-pandemic projections, exacerbating poverty and instability [22]. Challenges and Opportunities for Decarbonization in FCS - FCS countries contribute less than 3% of global GHG emissions but are heavily reliant on fossil fuels, complicating decarbonization efforts [29][41]. - The report emphasizes the need for conflict-sensitive climate financing to support decarbonization while addressing poverty [29][37]. Climate Risk and Resilience in FCS - FCS countries bear a disproportionate cost of climate change impacts, with 60% of climate-related disaster fatalities occurring in these regions [41][42]. - The report indicates that climate-related disasters are expected to increase in frequency and intensity, further destabilizing FCS [43][44]. Breakdown of Climate Change in FCV Settings - The report discusses the relationship between climate variability and conflict, noting that food insecurity and resource competition can lead to increased violence [54][56]. - It highlights the significant rise in conflict events during lean seasons, correlating with food scarcity [55][57]. Drought and Near-Term Climate Change Projections - FCS populations are highly dependent on rainfed agriculture, making them particularly vulnerable to climate variability and extreme weather events [59][60]. - The report calls for greater investment in climate adaptation strategies to mitigate these risks [59][61]. Discussion and Future Directions - The interconnectedness of climate change, fragility, and conflict necessitates comprehensive strategies that address root causes and foster sustainable development [78][79]. - The report advocates for integrated approaches that recognize the complex dynamics of FCV contexts in climate change financing [81][82].

Policy Research Working Paper 10901 Public Disclosure Authorized Public Disclosure Authorized Evaluation of Door-to-Door Tax Enforcement Strategy in Indonesia Paulo Antonacci Muhammad Khudadad Chattha Governance Global Practice September 2024 Public Disclosure Authorized Public Disclosure Authorized Policy Research Working Paper 10901 Abstract This paper presents an evaluation of a tax enforcement program conducted in Indonesia where officials from the tax authority visited properties to engage directly wit ...

Investment Rating - The report does not explicitly provide an investment rating for the industry discussed Core Insights - The report emphasizes that governments can effectively identify tradable sectors where public inputs can accelerate growth, particularly in developing countries where targeting can be more valuable due to fewer productive sectors and less technology [4][10] - Export promotion agencies are highlighted as effective institutions for coordinating public inputs to grow strategic sectors, presenting a cheaper and less capture-prone alternative to protectionism [4][10] - The report outlines a framework for export-led industrial policy, focusing on the importance of targeting industries based on international market growth, competition, comparative advantage, technological relatedness, and competitive advantage [12][41] Summary by Sections What: Growth, Competition, and Productivity Potential as Guides for Industrial Policy - The report discusses various theories regarding which sectors are beneficial for development, including manufacturing and tradable services, while emphasizing the importance of targeting based on specific country contexts [15][16] - It identifies international market growth as a critical measure for targeting sectors, noting that countries should focus on expanding exports in growing markets [21][17] - The presence of international competition is discussed as a risk factor, suggesting that targeting sectors with tough competition may be higher risk [22][24] How: Implementing Export-Led Development Strategy - The report outlines that developing countries face challenges in pursuing industrial policies due to international trade rules, which often limit their ability to discriminate against foreign interests [44][46] - It suggests that developing countries can still pursue industrial policy by focusing on tariff negotiations, improving access to new customers and suppliers, and ensuring quality certification and standards [48][50][51] - The role of export promotion agencies is emphasized, with evidence showing that they can effectively support exporters by providing training, market analysis, and facilitating trade opportunities [51][52]

Policy Research Working Paper 10903 Public Disclosure Authorized Public Disclosure Authorized The Economic Impacts of the Syrian Refugee Migration on Jordan An Integration Perspective Juan Segnana Gladys Lopez-Acevedo Raymond Robertson Jaime Alfonso Roche Rodriguez Poverty and Equity Global Practice September 2024 Public Disclosure Authorized Public Disclosure Authorized Policy Research Working Paper 10903 Abstract The Syrian Civil War in 2011 led to a substantial influx of refugees into Jordan, with more t ...

Industry Investment Rating - The report does not explicitly mention an investment rating for the industry [1][2][3] Core Viewpoints - The European automotive industry is making steady progress in developing automated vehicles, with significant investments yielding results [3] - Automation in mobility is expected to bring tangible benefits to European society, including lower transport costs, reduced environmental impact, improved working conditions, and better-served transport needs [3] - Supporting R&D in automation will enable European firms to remain competitive in the future of transport and encourage high-quality connectivity [3] - The roadmap aims to help European policymakers and stakeholders navigate the transition to automated mobility [3] Levels of Automated Driving - Assisted driving includes basic systems that recommend actions to drivers or provide additional sensory perception (e g blind spot detection) [3] - Advanced active safety systems intervene automatically, faster, and more reliably than humans (e g automated emergency braking systems) [3] - Automated driving technology can perform all dynamic driving tasks in specific scenarios (e g autopilot function for motorways) [3] - Autonomous driving aims to enable the vehicle to handle the full driving experience without human input [3] Uses of Automated Driving Technology - Highly automated heavy trucks can carry freight over medium and long distances, optimizing routing and scheduling for efficiency [5] - Commercial vehicles in confined areas (e g harbours, airports) allow for earlier adoption of self-driving technology due to controlled environments [5] - Automated last-mile delivery can alleviate strain on road networks and businesses caused by increased online shopping demand [5] - Automated passenger services can provide crucial mobility services, especially for people with disabilities and the elderly [5] - Automated valet parking systems save time, enhance safety, reduce energy consumption, and optimize parking space usage [6] - Private vehicles on highways are evolving from assisted driving to full automation, with each development stage lasting around a decade [6] - Hub-to-hub freight transport can operate on request around the clock, reducing wasteful trips and improving traffic flow [7] Benefits of Automated Mobility - Innovation capabilities: Cutting-edge research and engineering create and retain know-how in Europe, attracting a highly skilled workforce [10] - Competitiveness: Automated mobility allows Europe to leverage public-private cooperation and balance intelligent infrastructure with intelligent vehicles [11] - Workforce and skills: Automation can address the shortage of commercial vehicle drivers and improve working conditions [12] - Sustainability: Optimal vehicle usage leads to less congestion, lower speeds, and more efficient transport operations [13] - Road safety and comfort: Automated systems reduce human error, react faster, and remain vigilant, enhancing safety and comfort [14] - Accessibility and inclusion: Automation provides new mobility solutions for those with reduced mobility, improving access to healthcare and work [15] Recommendations for Deploying Automated Vehicles - Foster R&D in automated driving technologies and standards [17] - Simplify national and cross-border pre-deployment testing of automated systems on open roads across the EU [17] - Upgrade, adapt, and harmonise digital infrastructure for automated driving [18] - Establish European minimum standards for high-quality physical road infrastructure [18] - Update and harmonise road traffic rules to allow for high-level automation [18] - Cooperate with the industry on guidelines for remote vehicle supervision [18] - Grant access to public traffic data [18] - Update Europe's type-approval scheme to remove restrictions on automated vehicle registrations [19] - Expand the number of automated vehicle applications allowed in Europe [19] - Support the adoption and harmonisation of national operation, licensing, and traffic regulation [19] - Foster harmonisation of legislation on a global scale [19] - Create a European funding scheme for automated passenger and freight services [19] - Inform and establish a dialogue with the general public and future drivers and passengers of automated vehicles [20] - Adapt labour regulations for commercial vehicle drivers and operators [20] Roadmap - Commercial operation for each use case will start within the indicated time range (2022-2030) [21][22]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - China's fiscal sector is experiencing both near-term and long-term challenges, with slower public sector activity negatively impacting economic growth [2] - The government has maintained an expansionary fiscal stance, with a deficit around 7% of GDP, but local fiscal spending has contracted due to declining tax and land sales revenue [2][7] - A budget revision is deemed necessary, as fiscal spending may drop by an additional -2.5% YoY without policy changes, while an increase in the deficit could allow for a 3% YoY increase in spending [2][25] Summary by Sections Fiscal Challenges - The revenue-to-GDP ratio in China has declined by almost 10% over the past decade, now at approximately 22% of GDP, significantly lower than G7 (36%) and OECD (39%) averages [15] - The public sector's growth was only 3.4% in H1 2024, the second lowest among all sectors, indicating a slowdown in public sector activity [5] - Fiscal revenue dropped by -5% YoY in the first seven months of 2024, attributed mainly to an -18% YoY decline in land sales and a -5% YoY decline in major taxes like VAT and corporate income tax [10][13] Long-term Strategies - Broadening the tax base on high-end consumption is suggested as a practical approach to reverse the downward trend in fiscal revenue [3] - Local government financing has become increasingly reliant on borrowing or central government transfers, highlighting the need for reforms to boost local revenues [20] - The government's plan to increase revenue through consumption tax is seen as prudent, with current consumption tax revenue at 1.3% of GDP, below the OECD average of 2.9% [27]

August 30, 2024 08:41 PM GMT cover, CCB bucked the trend, showing improvement in overdue and SML loans. M Update | --- | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ...

J P M O R G A N Global Quantitative & Derivatives Strategy 27 August 2024 US Equity Financing and AIR TRF Monitor Aug 27, 2024 • Short-dated implied financing rates increased on the S&P 500, Nasdaq 100, and Russell 2000 w/w, leading to a flattening of the funding term structure. • Pricing on the S&P 500 AIR TRFs increased 1 bp on the Sep'24 contract, 4 bps on the Dec'24 contract, 3 bps on the Mar'25 contract, and were little changed across the rest of the curve w/w. • Volumes on S&P 500 AIR TRFs totaled ~$8 ...