DOCSLIB.ORG

PRODUCTION TRANSFORMATION POLICY REVIEWS (Ptprs) a POLICY ASSESSMENT and GUIDANCE TOOL to IMPROVE the EFFECTIVENESS of PRODUCTION TRANSFORMATION STRATEGIES

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
PRODUCTION TRANSFORMATION POLICY REVIEWS (Ptprs) a POLICY ASSESSMENT and GUIDANCE TOOL to IMPROVE the EFFECTIVENESS of PRODUCTION TRANSFORMATION STRATEGIES PRODUCTION TRANSFORMATION POLICY REVIEWS (PTPRs) A POLICY ASSESSMENT AND GUIDANCE TOOL TO IMPROVE THE EFFECTIVENESS OF PRODUCTION TRANSFORMATION STRATEGIES Please cite this paper as: Primi, Annalisa. (2016), "Production Transformation Policy Reviews (PTPRs): A Policy Assessment and Guidance Tool to Improve the Effectiveness of Production Transformation Strategies." DEV/GB(2016)2, OECD Development Centre, Paris, France 1 PRODUCTION TRANSFORMATION POLICY REVIEWS (PTPRS): A POLICY ASSESSMENT AND GUIDANCE TOOL TO IMPROVE THE EFFECTIVENESS OF PRODUCTION TRANSFORMATION STRATEGIES January 2016 This document is the reference framework for the Production Transformation Policy Reviews (PTPRs), elaborated in the framework of the OECD Initiative for Policy Dialogue on GVCs, Production Transformation and Development. The present version of the document has been endorsed by participating countries of the Initiative at the 4th Plenary Meeting on May 2015. The document clarifies the rationale for the PTPRs as a new policy assessment and guidance tool; presents the conceptual framework for the PTPRs and provides information about the review process. Annalisa Primi, Head OECD Initiative for GVCs, Production Transformation and Development [email protected] 2 TABLE OF CONTENTS PRODUCTION TRANSFORMATION POLICY REVIEWS (PTPRS): ....................................................... 2 A POLICY ASSESSMENT AND GUIDANCE TOOL TO IMPROVE THE EFFECTIVENESS OF PRODUCTION TRANSFORMATION STRATEGIES ................................................................................. 2 BACKGROUND ............................................................................................................................................. 4 THE NEED FOR A NEW POLICY ASSESSMENT AND GUIDANCE TOOL .......................................... 6 THE PROPOSAL: PRODUCTION TRANSFORMATION POLICY REVIEWS (PTPRS) ......................... 7 General objectives ........................................................................................................................................ 7 Specific objectives ....................................................................................................................................... 8 VARIETY OF EXISTING STUDIES ON WHICH PTPRS CAN BUILD ON ............................................. 8 THE VALUE PROPOSITION OF THE PTPRS .......................................................................................... 11 THE CONCEPTUAL FRAMEWORK ......................................................................................................... 12 Main assumptions ...................................................................................................................................... 12 The increasingly complex and uncertain scenario calls for bold actions and better metrics ..................... 13 A common challenge for developing countries is to identify ways to make GVCs work for SMEs ..... 17 The 5 pillars of successful transformation and upgrading strategies in contemporary economies ............ 19 THE PTPRS IN PRACTICE ......................................................................................................................... 22 The structure .............................................................................................................................................. 22 Methodology .............................................................................................................................................. 23 Co-operation with the International Organisations members of the Advisory Board ................................ 24 Outcomes ................................................................................................................................................... 24 REFERENCES .............................................................................................................................................. 25 Tables Table 1. Structure of the PTPRs .......................................................................................................... 22 Figures Figure 1. The PTPRs interpretative framework .................................................................................... 20 Figure 2. Definitions of the 5 pillars of the PTPRs ............................................................................... 20 3 BACKGROUND 1. The OECD Initiative for Policy Dialogue on Global Value Chains, Production Transformation and Development (http://www.oecd.org/dev/global-value-chains.htm), has been launched as part of the OECD Strategy on Development, and which as of April 2015, counts with the participation of 19 countries and an Advisory Board of Experts from 9 International Organisations (ECA, ECLAC, ESCAP, ESCWA, ILO, UNCTAD, UNIDO, WB, WTO). 2. As agreed by participating countries, the Initiative was requested to carry out country studies on production transformation and upgrading trajectories (Ref: Concept Note). As part of this stream of work, in 2014 a Working Group (WG) on Country Studies led by Costa Rica, Uruguay and Turkey, has been set up to identify a methodology for carrying out the studies. The WG has organised a Meeting with the contribution of the Ministry of Development of Turkey and TEPAV in Istanbul, Turkey, on October 2nd, benefiting from participation of UNIDO and UNCTAD from the Advisory Board and a small group of experts. (The programme, notes for discussion and LoP of the WG meeting are available on the restricted web-platform of the Initiative). The WG has discussed and improved a draft proposal shared by the Secretariat and has prepared a “proposal for “Production Transformation Policy Reviews (PTPRs): a new Policy Assessment and Guidance Tool to Improve the Effectiveness of Production Transformation Strategies”, which has been shared for discussion at the 3rd Plenary Meeting of the Initiative held in Kuala Lumpur, Malaysia on October 2015. 3. Participating countries at the 3rd Plenary Meeting have highlighted that country analyses are essential for making the policy dialogue an effective peer learning experience. According to participants, in-depth country studies are useful tools for learning from the experiences of others and sharing knowledge. Countries highlighted the importance of carrying out in-depth country analysis of experiences of diversification, production transformation and upgrading with the participation of peers. It allows identifying how countries can benefit from the participation in global value chains and create resilient linkages, benefiting from the variety of the experiences of the countries engaged in the network. Participants agreed on the fact that these studies should aim at: Providing a guiding framework for policy makers to identify options and actionable policy responses to promote structural transformation and upgrading in value chains, based on comparative assessment of countries’ assets, potential and priorities. Increasing the collective knowledge about the variety of development trajectories and patterns and on development narratives, based on the in-depth review of countries’ experiences. 4. Participating countries endorsed the proposal for Production Transformation Country Reviews (PTPRs). Participating countries highlighted that the PTPRs add value by proposing an original framework for diagnosis and policy guidance and by constituting a valuable process of policy analyses. Participants welcomed the timely focus on production transformation and industrial development, as these issues are coming back in the development agenda. The PTPRs mid-long term approach has been particularly welcomed. Participating countries highlighted the importance of collectively developing case 4 studies of successes and failures in diversification and upgrading in value chains with a view to identify key factors for supporting the creation of capabilities for entering into new sectors and activities. Participants welcomed the three-chapter structure of the PTPRs, with a first chapter providing a snapshot on country (and/or region within the country) positioning with global and regional benchmarking, benefiting from the OECD-WTO TiVA database for global trends, and for country positioning, when available; a second chapter focusing on an institutional assessment of strategy and implementation capabilities, with a focus on identifying policy complementarities; and a third chapter focusing on a specific topic and/or value chain as indicated by the reviewed country. The PTPRs are OECD reviews that are carried out as a joint exercise with UNIDO and UNCTAD, upon availability of funding. They will count with the participation of UN-Regional Commissions when a country of the region is reviewed and with the support of the Experts of the Advisory Board of International Organisations. UN-ECA and UN- ESCAP stressed the importance of this assessment and guidance tool for supporting processes of policy planning and implementation in LDCs and welcomed opportunities of collaboration in their respective countries of interest (Cfr. Summary Record of the 3rd Plenary Meeting of the Initiative, October, 2014- Kuala Lumpur- Malaysia). 5 THE NEED FOR A NEW POLICY ASSESSMENT AND GUIDANCE TOOL 5. The Production Transformation Policy Reviews (PTPRs) are a new policy assessment and guidance tool elaborated in response to countries’ demand in the framework of the implementation of the Programme of Work of the OECD Policy Dialogue Initiative on Global Value Chains, Production Transformation
Load more

Recommended publications
  • Asia Pacific's Time, 2020
    Asia Pacific's Time We must act now November 2020 www.pwc.com/asiapacific Contents Executive Summary 5 Time to act Chapter one 11 Shifting paradigms in Asia Pacific Chapter two 18 Growth pillars for success Pillar one Advancing the digital economy 21 Pillar two Enabling regional enterprise growth 32 Pillar three Rebalancing supply chains and fostering innovation 40 Pillar four Expanding and future-proofing the labour force 49 Pillar five Building climate change resilience towards a net-zero future 60 Chapter three 70 New ways of building a collective future Asia Pacific's Time | 2 Foreword Note from PwC Asia Pacific Chairman and Senior Partners Asia Pacific is at an important juncture in its journey. The fundamentals Raymund Chao that underpinned the region’s dramatic growth and prosperity over the PwC Asia Pacific Chairman past three decades are not sufficient to carry us through this era of Chairman, PwC China continuous disruption. Governments, businesses and society all need to Tom Seymour take a more proactive approach to secure the region’s future and fulfil its Chief Executive Officer, PwC Australia potential towards greater and more inclusive development and prosperity. Eddy Rintis Territory Senior Partner, PwC Indonesia We have heard from business leaders across the region, the severity of the challenges they now face, and the importance of reshaping the Koichiro Kimura direction of their organisations. However, many have feelings of caution Group Chairman, PwC Japan and apprehension in making decisions in this time of uncertainty. As we all Soo Hoo Khoon Yean look beyond COVID-19, PwC aspires to alleviate some of this anxiety and Territory Senior Partner, PwC Malaysia/Vietnam ambiguity, and ultimately help our clients build trust and confidence with Mark Averill their stakeholders.
    [Show full text]
  • World Bank Document
    TRADE, INVESTMENT AND COMPETITIVENESS Public Disclosure Authorized Public Disclosure Authorized TRADE, INVESTMENT AND COMPETITIVENESS EQUITABLE GROWTH, FINANCE & INSTITUTIONS INSIGHT Public Disclosure Authorized Th Eff cts of Comptition on Jobs nd Economic Trnsformtion Public Disclosure Authorized Seidu Dauda This note was prepared by Seidu Dauda (Economist). The author is grateful to Jose Signoret (Senior Economist), Mariana Iooty (Senior Economist), and Yue Li (Senior Economist) for valuable comments and insights and to Georgiana Pop (Competition Policy Global Lead) and Christine Qiang (Practice Manager) for overall advice. ABSTRACT Fostering sustainable productivity growth to achieve economic transformation that creates better earning opportunities for more people—the jobs and economic transformation (JET) agenda—is a key priority for the World Bank Group and its client countries. Several types of policies are critical to achieving JET, including competition- enhancing policies. This paper reviews the literature to document the channels through which competition impact key dimensions of productivity and jobs, the main outcomes measured under the JET agenda. The evidence suggests that competition foster productivity gains and job creation. Competition induces firms to be more productive and innovative, fosters a better allocation of resources across economic activities, and forces less-efficient firms to exit the market while inducing more-efficient firms to enter and gain more market share. Not only can competition directly create better and inclusive jobs for more people, but also, in the medium to long term, it can indirectly create more and better jobs when the cost savings from productivity gains are either passed on to consumers in the form of lower prices or invested by firms in business expansion activities that create higher demand for goods and services.
    [Show full text]
  • Global Sustainable Development Report 2019 Drafted by the Group of Independent Scientists
    Global Sustainable Development Report 2019 drafted by the Group of independent scientists Invited background document on economic transformation, to chapter: Transformation: The Economy August 14, 2018 Paavo Järvensivu (1*,2*), Tero Toivanen (1,3*), Tere Vadén (1), Ville Lähde (1), Antti Majava (1), Jussi T. Eronen (1,4*) *1 BIOS Research Unit, Helsinki, Finland *2 Aalto University, Sustainability in Business Research, Helsinki, Finland *3 Department of Political and Economic Studies, University of Helsinki, Finland *4 Ecosystems and Environment Research Programme & Helsinki Institute of Sustainability Science (HELSUS), Faculty of Biological and Environmental Sciences, University of Helsinki, Finland Corresponding author: Paavo Järvensivu, D.Sc. (Econ.), [email protected] GOVERNANCE OF ECONOMIC TRANSITION We live in an era of turmoil and profound change in the energetic and material underpinnings of economies. The era of cheap energy is coming to an end (Murphy 2014, Lambert et al. 2014, Hall et al. 2014, Hall et al. 2009, Hirsch et al. 2005). Because economies are for the first time in human history shifting to energy sources that are less energy efficient, production of usable energy (exergy) will require more, not less, effort on the part of societies to power both basic and non-basic human activities. Sink costs are also rising; economies have used up the capacity of planetary ecosystems to handle the waste generated by energy and material use. Climate change is the most pronounced sink cost. What will happen during the oncoming years and decades when we enter the era of energy transition, combined with emission cuts, and start to witness more severe effects of climate change? That is the big question.
    [Show full text]
  • Making Industrial Policy Work for Growth, Jobs and Development
    Salazar- Xirinachs Nübler Kozul- José M. Salazar-Xirinachs Wright Irmgard Nübler Richard Kozul-Wright No country has made the arduous journey from widespread rural poverty to post-industrial wealth without employing targeted and selective government policies to modify its economic structure and boost its economic dynamism. TRANSFORMING Building on a description and assessment of the contributions of different economic traditions (neoclassical, structural, institutional and evolutionary economics) to the analysis of policies in support of structural transformation and the generation of productive jobs, this book argues that industrial policy ECONOMIES goes beyond targeting preferred economic activities, sectors and technolo- gies. It also includes the challenge of accelerating learning and the creation of productive capabilities. This perspective encourages a broad and integrated Making industrial policy work approach to industrial policy. Only a coherent set of investment, trade, tech- nology, education and training policies supported by macroeconomic, financial for growth, jobs and development and labour market policies can adequately respond to the myriad challenges of learning and structural transformation faced by countries aiming at achieving development objectives. The book contains analyses of national and sectoral experiences in Costa Rica, the Republic of Korea, India, Brazil, China, South Africa, sub-Saharan Africa and the United States. Practical lessons and fundamental principles for in- dustrial policy design and implementation
    [Show full text]
  • Strengthening Africa's Capacity to Trade
    Strengthening Africa’s capacity to trade The World Trade Organization (WTO) is the international body dealing with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible, with a level playing field for all its members. Acknowledgements This publication is the result of a joint effort from several divisions of the WTO. The project was conceived by Raúl Torres, Head of the Development Policy Unit in the Development Division. Raúl Torres and Roberta Allport were also the lead drafters and coordinators of the report. Substantive contributions to this publication were made by Wase Musonge-Ediage, Théo Mbise, Michael Roberts, James Damon Drueckhammer and Olabanji Ogunjobi (Development Division); Mercedes Ninez Piezas-Jerbi, Florian Eberth, Christophe Degain and Kathryn Lundquist (Economic Research and Statistics Division); Sheri Rosenow, Deirdre Lynch and Mark Henderson (Market Access Division, Trade Facilitation Agreement Facility); Melvin Spreij and Pablo Jenkins (Agriculture and Commodities Division, Standards and Trade Development Facility); Aimé Murigande, Willie Chatsika and Claude Trolliet (Institute for Training and Technical Cooperation); Simon Hess and Fanan Biem (Enhanced Integrated Framework); Maegan McCann, Nadezhda Sporysheva and Roger Kampf (Intellectual Property, Government Procurement and Competition Division); Markus Jelitto (Trade in Services and Investment Division); and Fabrizio Meliado, Marieme Fall and Thabo Moea Joshua (Agriculture and Commodities Division). Comments on the final draft of the report were received from Wayne McCook and Trineesh Biswas (Office of the Director General). The publication was edited and reviewed by Anthony Martin, Helen Swain and Heather Sapey-Pertin (Information and External Relations Division).
    [Show full text]
  • LEVERAGING DEMOGRAPHIC TRENDS for ECONOMIC TRANSFORMATION Job Creation, Skills Development, and Urbanization Policies
    FORESIGHT AFRICA LEVERAGING DEMOGRAPHIC TRENDS FOR ECONOMIC TRANSFORMATION Job creation, skills development, and urbanization policies 34 Leveraging demographic trends for economic transformation Exploring new sources of large-scale job creation: The potential role of Industries Without Smokestacks Zaakhir Asmal, Senior Researcher, Development Policy Research Unit, University of Cape Town @ZaakhirAsmal Haroon Bhorat, Nonresident Senior Fellow, Africa Growth Initiative, Brookings Institution @HaroonBhorat John Page, Senior Fellow, Africa Growth Initiative, Brookings Institution Structural change is taking place in Africa, merchandise exports across Africa.3 Notably, but with a pattern that is distinct from the firm capabilities—the tacit knowledge and historical experience of industrialized countries working practices embodied in the firm—play and contemporary East Asia. Export-led a central role in determining productivity manufacturing is playing a much smaller role and quality. For lack of a better term, we in the structural transformation of Africa’s call these “industries without smokestacks” economies. In fact, on average, the share of (IWOSS) to distinguish them from traditional, manufacturing in Africa’s GDP has fallen since “smokestacks” industries. We define IWOSS 1980. Instead, services—some with quite low activities as those that (i) are tradable; (ii) productivity—absorb the bulk of African workers have high value added per worker relative to leaving agriculture and moving to cities. These average economy-wide productivity, as well changes reflect the impact of technological as exhibit capacity for technological change progress, a changing global marketplace, and productivity growth; and (iii) can absorb and natural resource endowments on Africa’s large numbers of moderately skilled labor. In industrialization prospects.
    [Show full text]
  • Overcharged and Underserved
    OVERCHARGED AND UNDERSERVED: HOW A TIGHT OLIGOPOLY ON STEROIDS UNDERMINES COMPETITION AND HARMS CONSUMERS IN DIGITAL COMMUNICATIONS MARKETS Roosevelt Institute Working Paper Mark Cooper Director of Research, Consumer Federation of America Adjunct Fellow, Silicon Flatirons, University of Colorado December 2016 The Roosevelt Institute thanks the Mertz Gilmore Foundation and other generous donors for their financial support. TABLE OF CONTENTS EXECUTIVE SUMMARY x I. A SILVER CLOUD WITH A DARK LINING: THE GOOD, THE BAD AND THE UGLY 1 OF THE DIGITAL COMMUNICATIONS SECTOR A Tight Oligopoly on Steroids in Digital Communications Networks Pocketbook Impacts of the Abuse of Market Power The Good, the Bad and the Ugly in the Digital Communications Sector Conflicting Views of Communications Market Structure Outline PART I: ANALYTIC FRAMEWORK AND EMPIRICAL OVERVIEW II. CONCEPTUAL AND EMPIRICAL FRAMEWORK TO ANALYZE CORE CONCERNS 17 ABOUT MARKET POWER Basic Analysis and Concerns Defining Markets Thresholds for Concerns about Market Power Competitive Effects Coordination Effects and Incipient Competition Non-Horizontal Mergers and Market Structure Concerns Vertical Integration and Leverage Conglomeration Conclusion: The Importance and Limitation of the Antitrust Approach to Market Power Analysis III. A BROADER ECONOMIC VIEW 30 The Welfare Economics of the Abuse of Market Power Structure, Conduct, Performance The Role of Market Failure Economic Oligopoly, Inequality, and Political Oligarchy Conclusion IV. METHODOLOGY AND DATA FOR QUANTITATIVE ANALYSIS 41 Operationalizing Key Analytic Concepts Conceptual Clarity, Empirical Complexity Tying the Empirical and Conceptual Analysis Together Multiple Measures, Multiple Data Sources Measures Data ii PART II: THE ORIGIN AND STRUCTURE OF THE TIGHT OLIGOPOLY ON STERIODS ACROSS DIGITAL COMMUNICAITONS MARKETS V.
    [Show full text]
  • Economic Transformation in Djibouti
    Report No: 134321-DJ Public Disclosure Authorized Economic Transformation in Djibouti SYSTEMATIC COUNTRY DIAGNOSTIC October 2018 Public Disclosure Authorized The purpose of this Systematic Country Diagnostic (SCD) is to identify the most critical development constraints facing Djibouti and how to make growth more inclusive and sustainable while promoting shared prosperity. The findings and recommendations of the SCD are based on analytical work carried out by a World Bank Group team with expertise in macroeconomics and poverty analytics, human capital development and labor markets, infrastructure and private sector development, governance and climate change. The team also undertook consultations with the Government of Djibouti and representatives from civil society, private sector stakeholders and the donor community. The SCD provides analysis and recommendations for policies that the Government might pursue to reduce barriers to inclusive and sustainable growth and achieve its vision of becoming a modern economy and Public Disclosure Authorized regional hub for trade and logistics, which can create jobs and raise living standards for Djiboutians. Public Disclosure Authorized Government Fiscal Year: January 1 – December 31 Currency Equivalents: Exchange Rate Effective as of May 19, 2018 Currency Unit = Djiboutian Franc (DJF) US$1 = 177.72 DJF Weights and Measures: Metric System ABBREVIATIONS AND ACRONYMS AFC Africa Finance Corporation ES Enterprise Survey Afreximbank African Export-Import Bank FCV Fragility, Conflict and Violence AKI
    [Show full text]
  • Working for Economic Transformation
    March 2015 Dimension Paper 03 Working for economic transformation Bruce Byiers, Tom Berliner, Francesca Guadagno and Laura Rodríguez Takeuchi developmentprogress.org Overseas Development Institute Cover image: Man working inside a 203 Blackfriars Road reinforced steel tube, Philippines. London SE1 8NJ Photo: © Nonie Reyes for the World Bank. The Institute is limited by guarantee Registered in England and Wales Registration no. 661818 Charity no. 228248 Contact us developmentprogress.org [email protected] T: +44 (0)20 7922 0300 Sign up for our e-newsletter developmentprogress.org/sign-our-newsletter Follow us on Twitter twitter.com/dev_progress Disclaimer The views presented in this paper are those of the author(s) and do not necessarily represent the views of ODI. © Overseas Development Institute 2015. Readers are encouraged to quote or reproduce material for non-commercial use. For online use, please link to the original resource on the Development Progress website. As copyright holder, ODI requests due acknowledgement and a copy of the publication. Contents Acknowledgements 5 Acronyms and abbreviations 5 Abstract 6 1. Introduction 7 1.1 The employment challenge 7 1.2 Transformation with employment? 7 1.3 Addressing the employment challenge 8 2. Structural change and jobs 9 2.1 From growth to jobs with economic transformation 9 2.2 Disaggregating structural change 11 3. Labour demand policy and employment progress 19 3.1 Macroeconomic policies 19 3.2 Sectoral issues: industrial policy for more and better jobs 20 3.3 Constraints to "rm growth in developing countries 21 3.4 Informalisation and employment quality 22 4. Labour force transformation policies 25 4.1 General education 25 4.2 TVET schemes in developing countries 28 4.3 Recognising the informal sector as a source of human capital 30 4.4 Social protection and public works programmes 31 5.
    [Show full text]
  • The Gold Standard, Deflation and Fascism in Polanyi's Great
    The gold standard, deflation and fascism in Polanyi’s Great Transformation. A multidisciplinary analysis ERNESTO CLAR Introduction In 1944 Karl Polanyi published a work that would become a milestone in 20th-century social science, The Great Transformation. He was among the first to explain the economic and political catastrophe of the inter-war period as the final stage of a long-term process that reigned in Western Europe (and the United States) in the wake of the Napoleonic wars, market liberalism. Polanyi considered those ‘one hundred years’ to be a coherent period covering the rise and fall of 19th-century civilization. Polanyi characterized the 19th-century civilization that was destined to die with the Great Depression of the 20th century by four institutions: the balance-of-power system, the gold standard, the self-regulating market and the liberal state. Of these institutions, Polanyi asserts that the gold standard was the only one to survive both the Long Depression (previously known as the Great Depression) of 1873-1886 and the Great War. However, its ultimate failure delivered the death blow for market liberalism and, in some places, also swept liberal democracy away with it. The final part of Polanyi’s book gives a historical account of this process. However, early on in the book, Polanyi warns us that he is not conducting historical research: «what we are searching for is not a convincing sequence of outstanding events, but an explanation of their trend in terms of human institutions»1. This statement should be understood as a declaration of intent; Polanyi’s analysis was not limited to a single subject, such as history or economics, and he made this very clear by saying «we shall encroach upon the field of several disciplines in the pursuit of a single aim»2.
    [Show full text]
  • Guyana There Will Be an Economic Transformation in Guyana in 2020
    Balance Preliminar de las Economías de América Latina y el Caribe ▪ 2020 1 Guyana There will be an economic transformation in Guyana in 2020, but not to the extent previously expected. Early in the year it was forecast that Guyana would grow by 85% in 2020. However, the domestic and international effects of the coronavirus disease (COVID-19) pandemic have lowered expectations and growth is now projected at 30.9%. The first case of COVID-19 was recorded on 12 March 2020. While the disease initially spread slowly in the country, it began to accelerate in August and by the end of October there were over 4,000 confirmed cases. The government implemented a number of measures to slow the propagation of the disease. To reduce the number of international visitors, international airports were closed on 18 March and the ferry service with Suriname was halted. To enforce physical distancing, the government suspending sporting events, limited social gatherings including weddings and funerals, and closed gyms, spas, clubs and other non-essential services. As a result of the government’s support and mitigation measures in response to the pandemic, the fiscal balance showed a deficit for the first six months of the year. The slowdown in domestic economic activity caused by the pandemic also led to a fall in employment, slower inflation, and a decline in government revenue. Moreover, implementation of fiscal measures was delayed, as the result of the 2 March election was not declared until 16 June. Because of this, until the new government presented its budget, spending was constrained by domestic laws, leading to sharp drops in current revenue and capital expenditure.
    [Show full text]
  • Summary Report Table of Contents Foreword by the Director-General 8 Acknowledgements 9 Overview of Registered Participants 10
    Supporting Economic Diversification and Empowerment 3-5 JULY 2019 Summary Report Table of Contents Foreword by the Director-General 8 Acknowledgements 9 Overview of registered participants 10 DAY 1. 3 JULY 2019 SESSION 1: Plenary "Supporting economic diversification and empowerment". Organizer: World Trade Organization ................................................................................................................................... 12 SESSION 2: Thematic Focus Session: "Seizing opportunities for economic diversification". Organizer: World Trade Organization ................................................................................................................................... 24 SESSION 3: Thematic Focus Session "How can aid and 21st Century trade help to close the gender gap?". Organizer: World Trade Organization ................................................................................................................................... 27 SESSION 4: Side Event "Aid for digital transformation". Organizer: South Africa ........................................................... 30 SESSION 5: Side Event "Creating and Capturing value at origin: Tourism as a driver of inclusive and sustainable economic diversification". Organizers: World Tourism Organization, International Trade Centre, European Bank for Reconstruction and Development ......................................................................................................................... 33 SESSION 6: Side Event "Trade capacity building
    [Show full text]