Amandla

Marshall McLuhan, the famed philosopher of media, wrote “We shape our tools and they in turn shape us”. His insight also applies to the economy which is shaped by economic policy derived from economic ideas, and it is the theme of my recent book which argues the global economic crisis is the product of flawed policies derived from flawed ideas.

The Economic Commission on Africa (ECA) has released the Economic Report on Africa 2012. The current report presents a more cautious and nuanced analysis of the continent’s growth trajectory.

The report situates the story of a rising Africa in a broader context, by pointing out the challenges and opportunities that lie ahead as governments push forward a series of policies to achieve structural transformation in an environment of global uncertainty. The report identifies the key binding constraints for unleashing Africa’s productive capacity and proposes a series of bold measures that governments must implement to position the continent as the next pole of global growth and rebalancing.

From UN Pulse

Previous Reports:

• 2011
• 2010
• 2009

By Adrian Janes, Docubase

In March 2011, the Chinese government released its Twelfth Five-Year Programme for Economic and Social Development (12FYP). The 12FYP sets out the government’s intentions across a broad spectrum of development policy issues up to and including 2015.  

The 12FYP is far more than a propaganda exercise, and should be taken seriously by all interested parties outside China. It offers unambiguous guidance to foreign governments and to the EU about China’s strategic priorities.  

Close reading of the 12FYP reveals scope for enhanced engagement, through dialogue and other means, on important issues of common concern and shared interest, including education, scientific and technological cooperation, energy saving and environmental enhancement. There is also considerable potential for collaboration on commercial and research projects. Taken as a whole, the 12FYP is a signpost to opportunities in which cooperation between China and the EU can be strengthened.  

During the period of the 12FYP, China’s development trajectory will be shaped more by domestic forces than by external drivers. This is partly attributable to the impact of the global financial crisis. But it also reflects the Chinese government's determination to rebalance the economy by making domestic consumption a more potent growth driver. There will, however, be no decoupling from the global economy, in which China will continue to play an active role.  

Both China's 12FYP and EU2020 prioritise 'sustainable' and 'inclusive' growth. Under these broad headings, there are many areas – for example, science and technology, innovation, education, energy conservation and climate change – in which the pursuit of common goals should be translated into enhanced cooperation.

Source: Chatham House

+ Direct link to document (PDF; 1.8 MB)

by Adrian Janes, Docubase

From Press Release:

If oil averages USD 120 per barrel in 2012, the global oil import burden – defined as total spending by net importing countries on net imports of oil – is set to reach a record high of over USD 2 trillion, or USD 5.5 billion per day, IEA Chief Economist Fatih Birol has said.

Oil price spikes have preceded each global recession since the early 1970s. Today, although the oil intensity (oil consumption per unit of Gross Domestic Product) of the global economy is less, prices still matter, particularly given the fragile state of the economic recovery.

Higher energy costs are reducing households’ purchasing power, forcing them to cut back on spending on other items or to increase their debt. 

Source: International Energy Agency

+ Press Release

+ Slides: Impact of high oil prices on the economy (PDF; 363 KB)

quick commentary on the World Economic Forum, 2012
http://www.bloomberg.com/davos/

The World Economic Forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas

Highlights:

Opening of the Annual Meeting 2012

The Global Business Context - Annual Meeting 2012

TIME Davos Debate on Capitalism - Annual Meeting 2012

An Initiative of the Risk Response Network, World Economic Forum in collaboration with:
Marsh & McLennan Companies
Swiss Reinsurance Company
Wharton Center for Risk Management,
University of Pennsylvania
Zurich Financial Services

http://reports.weforum.org/global-risks-2012/

Economic imbalances and social inequality risk reversing the gains of globalization, warns the World Economic Forum in its report Global Risks 2012. These are the findings of a survey of 469 experts and industry leaders, indicating a shift of concern from environmental risks to socioeconomic risks compared to a year ago. Respondents worry that further economic shocks and social upheaval could roll back the progress globalization has brought, and feel that the world’s institutions are ill-equipped to cope with today’s interconnected, rapidly evolving risks. The findings of the survey fed into an analysis of three major risk cases: Seeds of Dystopia; Unsafe Safeguards and the Dark Side of Connectivity. The report analyses the top 10 risks in five categories - economic, environmental, geopolitical, societal and technological - and also highlights "X Factor" risks, the wild card threats which warrant more research, including a volcanic winter, cyber neotribalism and epigenetics, the risk that the way we live could have harmful, inheritable effects on our genes. Key crisis management lessons from Japan’s earthquake, tsunami and nuclear disasters are highlighted in a special chapter.

The United Nations has launched the World Economic Situation and Prospects 2012 (WESP); A joint product of the Department of Economic and Social Affairs (DESA), the United Nations Conference on Trade and Development (UNCTAD) and the five  regional commissions. WESP provides an overview of recent global economic performance and short-term prospects for the world economy and some key global economic policy and development issues.  This year's WESP notes that global economic growth started to decelerate on a broad front in mid-2011 and this slow growth is expected to continue into 2012 and 2013.  UN economists project that 2012 will be a make-or-break year in terms of proceeding with slow economic recovery or falling back into recession. 

Download World Economic Situation and Prospects 2012 (pdf)

Related Resources:

• WESP Information website
• Past years WESP
• DESA Development Policy and Analysis Division (DPAD)

UN Pulse: Permanent Link: World Economic Situation and Prospects 2012

The UN-Habitat has released a report on the Economic Role of Cities.

This report examines the economic role of cities and illustrates the important contributions of cities to national economic development and poverty reduction. It looks at the agglomeration economies, city clusters, city regions and mega city regions.

UN Pulse:  Permanent Link: Economic Role of Cities report

The South African LED Network is an association for Local Economic Development (LED) practitioners in South Africa.

Global Development Horizons 2011—Multipolarity: The New Global Economy projects that today's emerging economies will grow, on average, by 4.7 percent a year between 2011 and 2025, and their share of global GDP will expand from 36 percent to 45 percent. Advanced economies, meanwhile, are forecast to grow by 2.3 percent over the same period, yet will remain prominent in the global economy, with the euro area, Japan, the United Kingdom, and the United States all playing a core role in supporting the global economic engine. More Report Highlights »

• Complete report
• Presentation slides (English)

Find out more

http://www.africaneconomicoutlook.org/en/

South Africa

World Economic and Social Survey 2011: The Great Green Technological Transformation

Enormous improvements in human welfare have taken place over the past two centuries, but these have been unevenly distributed and have come at a lasting cost of degradation of our natural environment. At the same time, we cannot stop the engines of growth, because much more economic progress is still needed in order for people in developing countries to have a decent living. But using the traditional environmentally irresponsible development paths is no longer defensible. To meet both the objectives of conquering poverty and protecting the environment, the World Economic and Social Survey 2011 calls for a complete transformation of technology on which human economic activity is based.

The "great green technological transformation" that the Survey champions will have to be completed in the next 30 to 40 years, that is, twice as fast as it took to accomplish previous major technological transitions. Because of the limited time frame, Governments will need to play a much more active and stimulating role to accelerate the green energy transformation. The Survey details new policy directions and major investments in developing and scaling up clean energy technologies, sustainable farming and forestry techniques, climate proofing of infrastructure and reducing non-bio-degradable waste production.

Download

• Overview: English
• Preface
• Table of Contents
• Chapter I
• Chapter II
• Chapter III
• Chapter IV
• Chapter V
• Bibliography

• Full Report: English

The World Economic and Social Survey (WESS) provides objective analysis of pressing long-term social and economic development issues, and discusses the positive and negative impact of corresponding policies.

 http://www.un.org/en/development/desa/policy/wess/wess_current/2011wess.pdf

Multipolarity: The New Global Economy

The first edition of a new World Bank flagship report, Global Development Horizons 2011 addresses the shift in the balance of global growth from developed to emerging economies, the rise of emerging-market firms as a force in global business, and the evolution of the international monetary system toward a multicurrency regime. Download the full report online (full report, pdf).  From UN Pulse: Permanent Link: Global Development Horizon 2011

The 2011 Economic Report for Africa is now available. Produced by the African Union and the United Nations Economic Commission for Africa (ECA), the report shows that the continent posted an economic growth rate of 4.7 per cent for 2010, and was expected to reach 5 per cent this year, as it recovered from the global economic crisis.

 Read the press release during the launch or visit the web site to download the report in English or French.UN Pulse: Permanent Link: 2011 Economic Report on Africa

There is a new report by UN-Habitat titled Infrastructure for Poverty Reduction and Economic Development in Africa.This report evaluates the role of infrastructure in promoting economic growth and poverty reduction in Africa. It is devoted to the study of the complementary physical infrastructure - telecommunications, power, transport (roads, railways, ports and airports), and water supply. UN Pulse: Permanent Link: Infrastructure for Poverty Reduction and Economic Development in Africa

Will economic interest take precedence over democracy?

In the aftermath of the global economic crisis, Africa is one of the regions of the world that are experiencing better-than-expected levels of economic growth.

While this growth may be off a low base, it is not insignificant in relation to the continent’s developmental and economic needs. If the growth continues, it will assist regional integration efforts in different parts of the continent. But the most important challenge this growth presents is with regard to the relationship between economic growth, on the one hand, and democracy and social justice, on the other.

It is in the challenge of linking growth to democracy that South Africa’s role on the continent will be tested. In other words, will South Africa pursue growth and investment opportunities at the expense of democracy and development? Are we going to commit ourselves to an understanding of respect for national sovereignty which is based on the need to deepen democracy in South Africa, while avoiding an insistence on the same elsewhere in Africa if such an insistence poses a threat to economic opportunities? Is South Africa going to hide behind multilateral approaches to avoid taking positions that may alienate powerful leaders who are not committed to good governance and democracy?...[More]

Video clip

From Polity.org.za

The African Union, NEPAD Planning and Coordination Agency (AU-NPCA), the United Nations Office of the Special Adviser on Africa (UN-OSAA) and the Organisation for Economic Co-operation and Development (OECD) have joined forces to improve international and regional co-operation for growth and development in Africa. As a first outcome of this partnership, the three institutions released on 11 October a joint study recommending further diversification of African economies.

According to the study titled, "Economic Diversification in Africa: A Review of Selected Countries", an enhanced diversification would reduce African economies’ reliance on natural resource revenues and encourage sustainable growth in other strategic sectors such as telecommunications, agriculture and tourism.

The report looks at how Africa can boost its economic growth and development by investing greater national and regional efforts in business climate reform. The study also aims to improve recognition of the increasingly important contribution of Africa to global economic growth.

Also on the same day, the three international organizations released a series of policy briefs on Africa’s foreign direct investment, infrastructure, debt, and aid.

The report and fact sheets are available below.

Economic Diversification in Africa: A Review of Selected Countries
Policy brief on Aid to Africa
Policy brief on External Debt in Africa
Policy brief on FDI in Africa
Policy brief on Infrastructure in Africa

From: http://www.un.org/africa/osaa/OSAA_NEPAD_OECD_partnership.html

The Day After Tomorrow: A Handbook on the Future of Economic Policy in the Developing World

http://siteresources.worldbank.org/EXTPREMNET/Resources/TDAT_Book.pdf

 Book Contents:

The Economics of Ecosystems and Biodiversity (TEEB) study is a major international initiative to draw attention to the global economic benefits of biodiversity, to highlight the growing costs of biodiversity loss and ecosystem degradation, and to draw together expertise from the fields of science, economics and policy to enable practical actions moving forward. 

UNCTAD has releases the 2010 economic report on Africa.The report discusses the variety of institutional arrangements that are guiding and encouraging these new economic relationships.It provides up-to-date information on African trade with other developing countries outside Africa, as well as on official financial flows and foreign direct investment into Africa from those countries. Finally, it assesses important policy issues that arise from the new relationships in each of these areas. Economic Development in Africa Report: South-South Cooperation: Africa and the New Forms of development Partnership

http://www.unctad.org/en/docs/aldcafrica2010_en.pdf

From UN Pulse : Permanent Link: Economic Development in Africa Report 2010

According to the 2010 World Economic and Social Survey, released by the United Nations today, a major rebalancing of the global economy is needed to make it sustainable. The main message in the report is that we have seen in the past couple of years, multiple global crises emerging- the food crisis, energy crisis, climate change crisis and the global financial crisis - all to a large extent a part of major systemic failures in the global economy and weaknesses in the mechanisms for global governance and particularly also a lack of coherence among many areas of policy - making. Download the report (full report, pdf, 1.35MB)

From UN Pulse  Permanent Link: 2010 World Economic and Social Survey

UNCTAD has launced a report on Economic Development in Africa 2010.This report argues that South–South cooperation has the potential to enhance:

Africa’s capacity to deal with the challenges of poverty and poor infrastructure,

development of productive capacity and

emerging threats associated withclimate change as well as

the food, energy, financial and economic crises.

The report suggests that these potential benefits of cooperation are however not automatic. They accrue to countries that have taken adequate and proactive steps to exploit them. In this regard, there is the need for African countries to mainstream South–South cooperation into their development strategies to ensure that it furthers rather than hinders the achievement of national and regional development goals.

Presentations:

• Risks and Opportunities Workshop Presentation
  Climate Change Risks & Opps Workshop - 14th August 2009

• Research Launch Seminar
  Low Carbon Growth Seminar - 6 May 2010

Reports:

Final Research Report

Full Report

Executive Summary

1. Introduction
2. National Context: Outline of the South African Economy
3. Climate Change: Overview of Risk and Opportunities
4. Risks and Opportunities for the South African Economy
   
   
   • Agriculture, Forestry and Fishing
   • Mining & Quarrying
   • Manufacturing
   • Utilities (Electricity, Gas and Water)
   • Construction
   • Trade, Catering & Accommodation Services
   • Transport, Storage & Communication
   • Financial, Insurance, Real Estate & Business Services
   
   
5. Key Areas for Consideration
6. Envisaging a Way Forward for South Africa
7. Conclusion

References
List of Acronyms
Glossary of Terms

Economic Sector Reviews

Provided below are reviews of each of the major economic sectors in South Africa. The reviews provide an overview of economic trends in each sector, and form important contextual background for the additional research under the project.

• Agriculture Forestry & Fisheries
• Mining
• Manufacturing
• Food Beverages & Tobacco
• Textiles, Clothing & Footwear
• Wood & Paper
• Petroleum, Chemicals, Rubber & Plastics
• Metal & Machinery Equipment
• Other non-metallic products
• Transport Equipment
• Electrical Machinery & Apparatus
• Radio, TV etc.
• Utilities
• Construction
• Retail & Tourism
• Communications
• Financial Services, Insurance & Business Services
• Transport & Storage

World Economic Situation and Prospects 2010: update as of mid-2010 has been published (full text, pdf, 406 KB).

The world economy continued to improve in the first half of 2010, leading to a slight upward revision in the United Nations outlook for global growth. The pace of the recovery is too weak, however, to close the global output gap left by the crisis. The recovery is also uneven across countries. While growth prospects for some developing countries are encouraging, economic activity is lacklustre in developed economies and below potential elsewhere in the developing world

Due South : exploring the impact of the recession on sustainable development in the South blog

Maintained by the International Institute for Environment and Development (IIED). This blog aims to focus on the impact of the global economic recession upon poorer nations of Africa. Asia and Latin America. It also has a focus on examining how nature, economic growth and social justice are intermeshed. Links are provided to news stories, comment and IIED reports and those from aid agencies. If you are interested in following these issues another good starting point is the Choike website which spotlights the work and research of southern NGOs and civil society organisations.

http://www.iied.org/sustainable-markets/blog/due-south

From Intute.ac.uk

Front Matter

Overview

Developments in the World Economy and Implications for Africa
Economic and Social Conditions in Africa in 2009 and Prospects for 2010
Selected current and emerging development issues for Africa in 2009
The critical drivers and enablers of high levels of sustainable growth
Growth-employment-poverty reduction linkages: a framework for recovery and accelerated progress towards the Millennium Development Goals
Selected country experiences from Africa

Download ERA 2010 Full Version

Earlier reports:

The United Nations Conference on Trade and Development (UNCTAD) has issued a report addressing the challenges posed by the global economic crisis. The report provides an analysis of the global financial crisis, highlighting the effects and means of addressing the issue.

From UN Pulse Permanent Link: UNCTAD Report- Responding to the Global Economic Crisis

The United Nations Relief and Works Agency (UNRWA) has released three briefing papers on the economic and labour situation in the oPt in 2008:

• Socio-Economic Developments in the oPt 2008 (pdf)
• The West Bank Labour Market in 2008 (pdf)
• The Gaza Labour Market in 2008 (pdf)

The report of the Conference on World Financial and Economic Crisis and its Impact on Development has been issued (A/CONF.214/9). The report provides details of the conference which was held in New York from 24-30 June 2009 and include resolutions, outcome document and summaries of round-table discussions.

UN Pulse Permanent Link: Conference on World Financial and Economic Crisis

Sub-Saharan Africa has been hit hard by the global recession, but signs of resilience remain. While South Africa and some other middle-income countries were caught in the turbulence of international financial markets, and oil exporters saw government revenues plunge, some countries with wider commodity bases have so far escaped the worst of the crisis. With many families affected by the crisis, however, progress toward the Millennium Development Goals has receded.

Download the report (full-text, pdf) from the website.

UN Pulse Permanent Link: Regional Economic Outlook: Sub-Saharan Africa

"STICERD, a research community of economics and political science based at London School of Economics (LSE)

... aimed at economists and political scien[tists] ...

There are 11 series of papers that can either be browsed of searched, including the Centre for Analysis of Social Exclusion (CASE), Distribution Analysis Research Programme (DARP), Development Economics, Economics of Industry, Economics Organisation and Public Policy, International Studies, Econometrics, Japanese Studies, Political Economy and Public Policy, Theoretical Economics and Occasional papers."

From FreePint

• Policy Responses to the Global Economic Crisis in Africa (pdf)
• The Global Economic Crisis after One Year: Is a New Paradigm for Recovery in Developing Countries Emerging? (pdf)

The United Nations Development Programme (UNDP) has launched a new climate change web site, www.undpcc.org.  The site is a knowledge database for information on key climate change issues, with a focus on analyses of international climate negotiations as well as the economic and policy implications of climate change.

Key features of the web site include:

• Publications database, which contains over 600 documents on climate change in different languages
• Periodic summaries of the UNFCCC negotiations leading to the 15th Conference of the Parties which will take place in Copenhagen in December 2009.
• Project materials, including national issues papers on key sectors, reports from national inter-ministerial dialogues on climate change and a UNDP user guidebook for assessing investment and financial flows.
• Public and private thematic and country groups where members can participate in discussions as well as post documents, questions or comments to obtain feedback from other group members.

Economic Survey for Latin America and the Caribbean 2008-2009
Source: Economic Commission for Latin America and the Caribbean (UN)

The publication of the sixty-first edition of the Economic Survey of Latin America and the Caribbean, corresponding to 2008-2009, comes at a critical point in the economic development of the Latin American and Caribbean region. A growth phase that the region’s recent history cannot equal in nature and duration has come to an end and output is contracting. The toll this state of affairs is taking on the well-being of the population will inevitably be reflected in setbacks in social variables. Two traits set the current situation apart from the many crises that have beset the region in decades past. First, this crisis did not originate in the region or even in another emerging economy, but in the world’s largest economy, whence the effects spread worldwide, albeit with significant differences among countries and regions. Second, since the countries have (albeit with major exceptions) reduced their debt and built up their reserves during the boom years, the region overall is better prepared than in the past, and than other regions this time around, to tackle the crisis. These traits, in turn, have two implications. First, the rate of contraction forecast for 2009 is relatively moderate although, again, with sharp differences among the countries of the region. Second, the recovery depends to a great extent on an upturn in the global economy overall.

The first part of this edition of the Economic Survey looks at the channels through which the crisis is affecting the economies of the region and its impact on variables such as economic growth, employment and external-sector indicators. It also discusses the strengths and weaknesses of the countries in dealing with the fallout from the global crisis and the economic policies they have deployed to this end. The analysis covers the performance of the region’s economy in 2008 and the first semester of 2009 and concludes with a discussion of the outlook for the second half of the year. This chapter draws on an extensive statistical appendix.

+ Full Document (PDF; 1 MB)

Via: UN Pulse and Docuticker

Abstract: The Cape Town city-region, which is the second-largest area in South Africa (4 million inhabitants), reflects the national challenge of creating new economic opportunities while correcting past inequities. Since the end of the apartheid system, Cape Town has benefited from macroeconomic stabilisation and has outpaced the national average growth rate. It has both modernised its traditional strengths in port logistics and developed innovative sectors in tourism, agro-food processing, viticulture, financial and business services. Some of these industries compete successfully on the international market and attract skilled labour and foreign investment.

However, the scale of economic exclusion in Cape Town curbs the spatial and social dissemination of economic growth and reduces the potential of economic drivers. While many of Cape Town’s socio-economic problems and urban-policy challenges – income inequality, high unemployment, informal settlements, housing backlogs, mass transit inadequacies, crime, health disparities – are common throughout South Africa, the long history of apartheid has left the city with a segregated social geography that amplifies many of these daunting challenges. Currently 22% of the population is unemployed and 38% of residents live below the poverty line.

This report identifies the key missing collective goods that could both create externalities for firms and foster a more equitable distribution. It provides a platform for the development of a forward-looking, cross-cutting regional development strategy and proposes new "second generation" governance reforms to consolidate previous achievements and respond to emerging obstacles.

The Territorial Review of Cape Town is integrated into a series of thematic reviews of metropolitan regions undertaken by the OECD Territorial Development Policy Committee. The overall aim of these case studies is to draw and disseminate horizontal policy recommendations for national governments.

Link to read only version

Conference on the World Financial and Economic Crisis and Its Impact on Development: Outcome Document

The Outcome of the Conference on the World Financial and Economic Crisis and Its Impact on Development as it was adopted by the General Assembly is now available as an annex to General Assembly resolution 63/303. For more information, visit the conference website  

From UN Pulse: Permanent Link: Conference on the World Financial and Economic Crisis and Its Impact on Development: Outcome Document

Global Issues ...[facing] the United Nations... [T]his website... offer[s] an overview of some of these issues, and guide you to places on the World Wide Web where you can gain additional information on each issue. We hope this deepens your knowledge and understanding of these issues, and what the United Nations is doing to address them.

• Africa
• Ageing
• Agriculture
• AIDS
• Atomic Energy
• Children
• Climate Change
Culture -->
• Decolonization
• Demining
• Development Cooperation
• Disarmament
• Environment
• Food
Energy -->
• Governance
• Humanitarian and Disaster Relief Assistance
• Persons with Disabilities
Information and Communications Technology
• Least Developed Countries
-->
• Refugees
• Women
Youth -->

The United Nations Relief and Works Agency (UNRWA) has released its previously internal report, Socio-Economic Developments in the oPt First Half 2008 (pdf). The full 2008 report is expected in the fall.

UN Pulse: Permanent Link: UNRWA Report on the Economy in the Occupied Palestinian Territory (oPt)

World Economic Forum on Africa, Cape Town, South Africa, 10-12 June 2009  Implications of the Global Economic Crisis for Africa

Roadmap to Africa 

Macroeconomic Shifts in the Global Agenda, Economic Crisis, Impact on Africa

Economic Priorities and Business Environment

New Leaders, New Governments and Leadership Values

Forging New Geopolitical Relationships and Sharing Infrastructure Priorities

Technological Developments: New Solutions to Old Problems

The report on the Overview of the economic and social conditions in Africa 2009 has been issued (E/2009/17). According to the summary: