Session 11: Financing for Development: What Comes next - Climate Finance

 “This time was different” in terms of the monetary policy responses to capital outflow shocks felt by emerging market economies (EMEs), as pointed out by a November 12 Bank for International Settlements bulletin. The pandemic-related global financial shock that hit in March and April led to close to $100 billion leaving EMEs (see my previous article). This was answered by local monetary authorities in ways different from previous episodes. This time there was even the use of quant ...

Africa is experiencing economic growth deceleration that reached 2.9% on average between 2010 and 2018, against 5.4% between 2000 and 2010. The sectoral performance of African economies depends critically on the stock and quality of infrastructure, directly as an essential input (for example, energy and transport) and indirectly by increasing total factor productivity. African economic integration, and the hoped-for emergence, can never be fully achieved with poor infrastructure, bo ...

The effective implementation of the 2030 Agenda requires a greater level of capital mobilization and new institutional arrangements that guarantee the better allocation of these funds. Based on concrete results from the experience of the Development Bank of Minas Gerais, in Brazil, this paper argues that Subnational Development Banks (SDBs) can be powerful players within development finance institutions’ networks, as their local expertise can bring efficiency and effectiveness to th ...

Avec la venue de Renault à Melloussa, près de Tanger, puis de PSA à Kenitra et, demain, du Chinois BYD, à Casablanca, la filière automobile marocaine aura atteint une capacité annuelle de production de 700 000 à 1000 000 de véhicules, sous différentes marques. Ce qui fait que le Maroc est aujourd’hui le leader des modèles de Tourisme en Afrique. Cette étude rappelle les grandes étapes de cette marche de la maturité et de l'excellence, qui commence en 1959, avec la Somaca (la Société ...

This article analyzes the impact of firms' workforce composition on cultural distance and export performance. On the one hand, empirical literature has shown that there are dark trade costs that hinder trade performance, among which is cultural distance; on the other hand, the literature has shown that firms' export performance is positively correlated with employees’ qualifications. Using a unique database of 59,606 French firms, we reconcile these two streams of literature by esti ...

We estimate the contents of services value-added incorporated in goods exports in different countries in Latin America, exploring the local dimension of the results. We use inter-regional input-output analysis to trace and map domestic value-added embedded in those countries’ exports. We add to the discussion of global value chains the internal, withincountry geography of trade in value-added, since the set of locational preferences that help understanding the spatial patterns of na ...

We have previously discussed how, between March 2020, when the financial shock caused by COVID-19 occurred, and the end of August, the stock and corporate debt markets in the United States performed extraordinarily, despite gloomy prospects on the real side of the economy. The decline in technology stock prices in September ended up taking the equivalent of a month from gains starting in April, but prices remain high. On the basis of such a ‘disconnect from reality’ in financial ma ...

L’enjeu du développement des systèmes électriques centralisés est une priorité pour le développement économique et social de l’Afrique subsaharienne. Alors que la population subsaharienne devrait presque doubler en trente ans selon l’Organisation des Nations unies (ONU), pour atteindre 2,1milliards d’habitants en 2050, dont 1,2milliard d’urbains, le continent va devoir fournir des emplois aux jeunes qui arrivent chaque année plus nombreux sur le marché du travail. Ce sont ainsi 20mi ...

Dans ce huitième ouvrage, le Centre HEC de Géopolitique et le Policy Center for the New South présentent 13 papiers conjoints inspirés de la 8ème édition de la conférence annuelle des Dialogues Stratégiques, et enrichis par les auteurs. Lors de cette rencontre, qui a eu lieu le 17 octobre 2019, deux thèmes majeurs ont été discutés : Les défis de la navalisation et de la maritimisation du monde et l’insularité au sein de l’Union Africaine. Dans la première partie de l’ouvrage, les a ...