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Posts Tagged ‘Economics’

The Five Most Fragile Countries…

Posted by addisethiopia / አዲስ ኢትዮጵያ on November 9, 2017

Exposed To Higher Interest Rates Are:

  • Egypt
  • Turkey
  • Pakistan
  • Qatar
  • Argentina

CREDIT ratings agency S&P Global has revealed its list of the five most vulnerable countries that will suffer under rising interest rates across the globe.

After around a decade of ultra-low interest rates around the world following the financial crash the tide is now turning and central banks are now either reviewing their policy of loose monetary policy or starting to cautiously raise rates in an attempt to head off any early signs of inflationary pressures.

S&P Global have now released what they dub the new “fragile five” – the countries that are most at risk of rising interest rates.

According to the agency the emerging markets of Turkey, Argentina, Pakistan, Egypt, and Qatar are likely to suffer the most as the cost of borrowing rises.

Moritz Kraemer, S&P Global’s managing director and sovereign global chief rating officer, said in a report on Monday, monetary conditions are “exceptionally accommodative” and, for some emerging markets, “the funding environment is now the most benign in living memory.”

Continue reading…

My Note: Anguish, pain, poverty and hardship, all inflicted, directely or indirectly on Ethiopians by five of the many nations across the continents. Life did let the nations of Egypt,Turkey,Pakistan,Qatar and Argentina (Italians) get away with their ignorance and stupdiity for a while, but sooner or later, they will pay the price.

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Ethiopia: One of The Greenest Countries

Posted by addisethiopia / አዲስ ኢትዮጵያ on October 20, 2014

SemienTerarra6According to the newest edition of the Global Green Economy Index (GGEI), Ethiopia is viewed as having significant opportunities for improved green country branding

The report, released on Monday, compares how 60 different countries and 70 cities perform in the green economy.

In the country comparisons, Sweden and Germany took top honors for country performance and perception, respectively. Ethiopia had the 37th-highest perception rank and was number 26 in performance. GGEI survey respondents ranked the nation among the top markets for green investments.

The results from the 2014 Global Green Economy Index reveal a wide range of insights relevant to policy makers in the governments being measured, as well as international organizations, civil society and private actors interacting with them. This new edition of the GGEI confirms what had already been established in previous editions: Germany and a block of Nordic countries continue to dominate this Global Green Economy Index, both in terms of performance and perceptions of that performance by expert practitioners.

Beyond these impressive results, some compelling findings emerge through this latest edition, in part due to the greater diversity of countries covered and an updated methodology and data structure providing greater sector focus and integration of environment & natural capital. Covered for the first time, Costa Rica records an impressive result, ranking 3rd behind Sweden and Norway on performance and in the top 15 for perceptions overall, a notable accomplishment for such a small country. Other Latin American countries – including Colombia, Peru and Chile – also perform well in their first time being covered on the GGEI, although this performance is not yet recognized in a meaningful way through the perception survey.

These new results also reveal some vivid examples of countries where performance clearly exceeds perceptions of it, signaling significant opportunities for improved green country branding and strategic communications. Five European countries – Austria, Iceland, Ireland, Portugal and Spain – clearly fall in this category.

A similar observation emerges for a variety of other countries – most notably the African states of Ethiopia, Mauritius, Rwanda and Zambia – all covered for the first time on this year’s GGEI. In these cases, global audiences simply aren’t registering the green merits of these states or country competitors are overshadowing them with a more strategic approach to communications and information exchange.

A red flag from this year’s GGEI results is that few of the fastest growing economies in the world rank very well in the GGEI performance measure or on the perception survey, reinforcing the importance of mainstreaming the green economy concept further so it can be better integrated to policy formulation in these markets. While doing quite well in terms of perception, China ranks near the bottom of the performance measure, driven by its poor performance on Efficiency Sectors and Environment & Natural Capital. But this problem extends beyond China: rapidly growing countries in Africa (Ghana), the Gulf (Qatar, United Arab Emirates), and Asia (Cambodia, Thailand, Vietnam) rank poorly on the GGEI performance measure.

These overall findings only tell part of the story, and the following pages present a brief snapshot of the results for the 60 nations covered on the GGEI as they play out on the four main dimensions: Leadership & Climate Change, Efficiency Sectors, Markets & Investment and Environment & Natural Capital. Our goal is to become the leading benchmark for countries to track their performance in the green economy over time and how experts assess it. The following pages serve as an entry point for deeper engagement with the GGEI data and associated consulting services to address more country or firm-specific challenges.

Ethiopia’s overall performance on the GGEI exceeds how experts perceive it, suggesting an opportunity for more targeted communications from leadership there. Ethiopia tops the performance rankings on the Leadership & Climate Change dimension, driven by the relatively low carbon intensity of its economy and national efforts to promote green measures through its Climate-Resilient Green Economy Strategy. Given its high GDP growth rate at the moment, Ethiopia should work on its performance in the Markets & Investment dimension and better articulate to investors the green investment opportunities there. It will also be critical to ensure that its carbon intensity remains low as development proceeds in efficiency sectors like buildings.

PERCEPTION-RANK

The full report can be viewed here

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Top 10 Economic History Books?

Posted by addisethiopia / አዲስ ኢትዮጵያ on July 30, 2009

Economics

Top Ten Books of International Economic History: Dan Drezner, at his blog at the Foreign Policy blog site, lists his selections for the top ten books of international economic history. Let me raid his list:

1. Gregory Clark, A Farewell to Alms: A Brief Economic History of the World (2007)

    “The Sixteen-Page Economic History of the World” – actually matches the audacity of the title. As I said, I don’t completely buy Clark’s explanation of Malthus + genetics = Industrial Revolution in Great Britain. His attempt to explain away the irrelevance of institutions doesn’t hold up to scrutiny. Still, I will say I better appreciated the heyday of mercantilism after reading Clark.

    2. Nathan Rosenberg and L.E. Birdzell, Jr., How the West Grew Rich (1986)

    Perfect when paired with Clark, because Rosenberg and Birdzell present the classical argument for why Western Europe was the birthplace of the Industrial Revolution.

    3. Jared Diamond, Guns, Germs, and Steel (1997)

    The third leg in the triad of “why did Europe dominate the globe?” explanations. If Clark focuses on genetics/culture, and Rosenberg and Birdzell focus on institutions, Diamond proffers a geographical determinism. Simply put, he thinks the temperate climate of Eurasia was bound to produce the most sophisticated societies with the most advanced animals, germs, and technologies. Diamond’s argument compliments rather substitutes for the institutions and culture arguments. If nothing else, it is impossible to read this book and ever buy the ending to War of the Worlds.

    4. John Nye, War, Wine and Taxes (2007).

    David Ricardo’s classic example of comparative advantage was English wool for Portuguese wine. Nye explodes the “natural” aspect of this trade, demonstrating how high tariffs against French wine proved a boon to both the Portuguese and English beer distillers. Nye stretches his argument too far at times, but the interrelationship between war, protectionism, and statebuilding is pretty damn fascinating.

    5. Douglas Irwin, Against the Tide: An Intellectual History of Free Trade (1996).

    Irwin’s book is more a history of economic thought than economic history, but nevertheless tells a remarkable story: how did the idea of free trade knock off mercantilism, protectionism, strategic trade theory, and other doctrines?

    6. Kevin O’Rourke and Jeffrey Williamson, Globalization and History (1999).

    A lucid, detailed and fascinating study of how the nineteenth century of globalization went down. When anyone argues that the current (fast fading?) era of globalization is historically unique, take the hardcover version of this book and whack them on the head with it.

    7. Jeffry Frieden, Global Capitalism: Its Fall and Rise in the Twentieth Century(2006)

    This book is to the twentieth centiury as Williamson and O’Rourke’s book is to the nineteenth – except it’s written for a wider audience, so it’s a more accessible read. Accessible doesn’t mean simple, however – this book is chock full of interesting arguments, cases, and counterarguments.

    8. Barry Eichengreen, Globalizing Capital: A History of the International Monetary System, second edition (2008).

    A more narrow work than Frieden’s, Eichengreen’s book is the starting point for understanding the classical gold standard, the Bretton Woods regime, and whatever the hell system we have now the Bretton Woods II regime.

    9. Daniel Yergin and Joseph Stanislaw, The Commanding Heights (1997)

    Yergin and Stanislaw tell a cheerleader’s tale of how the Washington Consensus displaced the old quasi-Keynesian, quasi-socialist economic order that had its apogee and downfall in the 1970s. What’s particularly interesting is their argument that what mattered was the content and spread of the ideas themselves, and not some coercive power, that led to the re-embrace of markets.

    10. Paul Blustein, The Chastening (2001)

    Blustein, a reporter for the Washington Post, tells the you-are-there version of the Asian financial crisis and the reaction from the U.S. Treasury Department. If you want to know why Pacific Rim economies started hoarding foreign exchange reserves beginning in 1999, read this book.

What would you add to this list?

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