EU member states must ensure careful and efficient implementation of economic recovery plans that support inclusion and growth to bounce back from the worst impacts of the COVID-19 pandemic, says a new World Bank report.
Model-based studies on the effect of carbon taxation point to sizeable inflationary effects. This column uses evidence from Canada and Europe over the past three decades to show that carbon taxes changed relative prices but did not increase the overall price level. Instead, they were slightly deflationary. Income compression was most pronounced among the richest households, suggesting that the redistribution scheme achieved its intended aim of favouring low-income households.
Focusing on lessons from the Heavily Indebted Poor Countries (HIPC) Initiative, established 25 years ago by the World Bank and IMF, this paper proposes a new international debt relief initiative, which prioritises investment in climate and nature, to get developing countries’ economies back on track post-pandemic.
This How to Note discusses how countries should manage public investments to recover from the COVID-19 pandemic and similar crises. It provides countries with guidance on making efficient use of public investment to support economic recovery on three different capacity levels: basic, medium, and advanced.
The UN-convened Net-Zero Asset Owner Alliance recommends strengthening of current carbon-pricing instruments and regulations across global economy. Explicit mechanisms for escalating binding carbon-price floor and ceiling are detailed in this
This policy brief: (i) highlights the impacts of the coronavirus (COVID-19) pandemic across SIDS; (ii) provides an overview of the support delivered by development co-operation providers to face the crisis; and (iii) provides suggestions to ensure that international support can lead to a fast and sustainable recovery in SIDS: a ‘blue’ recovery.
This report focuses on carbon pricing, taking stock of current pricing patterns, identifying reform needs to meet mitigation pledges, impacts, and opportunities, and comprehensive approaches to address political economy concerns.
Eliminating or redirecting biodiversity-harming subsidies (BHS) by 2030 is feasible and can deliver multiple benefits. This policy brief highlights lessons learned from successful reforms in selected countries and outlines a
Strict lockdowns across the globe in response to the COVID-19 crisis have led to severe economic consequences. Compared to 2019, the global GDP in 2020 fell by 4.3 %, the
Over the past decade, India transitioned from high transport fuel subsidies to relatively high taxes, delivering significant revenue that most recently have funded the country’s COVID-19 response. Indonesia’s transport fuel
… for more Green Fiscal Policy news!
Economy Division, Resources and Markets Branch, 11-13, Chemin des Anémones, 1219 Châtelaine, Geneva, Switzerland
700 19th Street, N.W., Washington, D.C. 20431, USA
Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), Friedrich-Ebert-Allee 36 + 40, 53113 Bonn, Germany