Under China's dual circulation strategy, traditional industries that are highly dependent on international supply chains face significant challenges requiring restructuring. This study develops a multi-scale analytical model that integrates the Global Trade Analysis Project (GTAP) with the...

This study examines the economic implications of Russia-Ukraine conflict has had on business operations in Ukraine and Lithuania. It seeks to examine how businesses have responded to the turmoil emanating from the conflict by breaking down disruptions in supply chains, regulatory adjustments as...

Europe has a large and persistent per capita income gap with the United States. Deficiencies in total factor productivity, labor utilization, and capital intensity all play a role. While deeper intra-Europe integration is one key element towards closing these gaps, remaining structural domestic...

EU Missions are large-scale initiatives under Horizon Europe designed to tackle major global challenges, such as climate change, cancer, soil health, ocean restoration, and the development of climate-neutral and smart cities. They set clear, time-bound goals and bring together research, policy,...

A fundamental problem for sovereigns enacting climate policies is whether they can manage increasing debts as their economies suffer from adverse climate impacts. We develop stochastic debt sustainability analysis integrating a coupled climate-economy model with debt financing scenario...

Background: Corporate bonds are crucial for corporations as they provide a flexible and often less costly alternative to equity financing. However, rising corporate debt levels, along with rating downgrades and economic uncertainty, can cause corporations to face financial distress, exacerbating...

The spatial dimension is central to future adaptation due to the uneven expected damages in the EU. Damages will not only be local, but would spread out to unaffected regions through spatial linkages. Trade, a key dimension of these linkages, is vulnerable to climate damages and current...

We study the social and distributional implications of the euro area (EA) sovereign debt crisis in countries that received external financial assistance for macroeconomic adjustments. Combining granular data from about one million survey interviews with households across euro area states carried...

We investigate how firms adjust to demand shocks when wages and employment determination are regulated. Using firm-level data for the Italian metal engineering industry from 2009 to 2021, we estimate the elasticity of the wage bill to changes in firm's real sales. We disentangle the effect on...

This paper examines the lasting influence of neoliberalism on urban planning and policy in the Global South, shaped significantly by the Structural Adjustment Policies (SAPs) promoted by International Financial Institutions (IFIs) during the 1980s and 1990s. These policies introduced key...

This serves as the lead section of the 2024-2025 Philippine Institute for Development Studies (PIDS) Economic Policy Monitor (EPM). It examines the overall performance of the Philippine economy in 2024 and, where data permit, up to the third quarter of 2025. The discussion situates the country's...

Economic shocks-arising from pandemics, natural disasters, financial crises, or geopolitical conflicts-pose significant challenges to governments, requiring swift and effective fiscal responses. This study employs a Generalized Method of Moments (GMM) estimation to analyze time-series data from...

The impacts of the green and the digital transitions on the regional economic structure of the European Union are of paramount importance and have been at the forefront of the recent policy discussions. This paper contributes to the ongoing discussion by developing a composite indicator to...

The chapter provides an introduction to and overview of the edited volume entitled Rethinking Economic Transformation for Sustainable and Inclusive Development: Turning a Corner? It addresses the imperative to reimagine development pathways and make headway in economic and social progress and...

Climate change adaptation has been gathering momentum. At COP26 in 2021, the parties to the UNFCCC agreed to develop a work programme to deliver on the global goal on adaptation; at COP28, in December 2023, they adopted the framework for achieving that goal. Adaptation efforts should be led...

Oman's potential nonhydrocarbon real GDP growth has trended downward since the global financial crisis, with a negative contribution from total factor productivity. This paper estimates productivity gains associated with structural reforms and identifies key binding constraints and reform...

This paper scrutinizes the issue of economic resilience, aiming to detect the existence of a systematic link with economic specialization. To this end, the paper conducts an empirical analysis at the local (i.e., municipal) level of Greece during the economic crisis period (2009-2015), providing...

For the scientific understanding and correct adjustment of domestic and foreign economic operations, both academic research and policy-making require the analysis of the relationship between the proportion principle of labor distribution, market mechanism and state economic adjustment. The...

This report synthesises the evidence on the impact of the war and its implications on food security in Africa based on country case studies covering Egypt, Ethiopia, Kenya, Morocco, Mozambique, Senegal, South Africa and Sudan, as well as Africa-wide studies utilising econometric modelling...

This paper assesses the economic effects of climate policies on different regions and countries with a focus on external adjustment. The paper finds that various climate policies could have substantially different impacts on external balances over the next decade. A credible and globally...

This study investigates the macroeconomic resilience of the Moroccan economy using a comprehensive analysis of key indicators and policy variables. Utilising data from sources such as the World Bank, we examined GDP per capita, government debt, government final expenditure, agriculture and...