This book examines the COVID-19 pandemic through socioeconomic lens that draw on history, approaches to state-market relations, and public policy perspectives In 2020, the world experienced the worst pandemic since the outbreak of the Spanish Flu of 1918, which continues to have far[1]reaching implications for the global economy and triggered macro-economic dislocations that severely affected the most vulnerable countries and segments of society. This book was conceived as a response to the disruptive shifts induced by the pandemic, with a particular focus on South Africa. International experience has shown that countries and societies that have gone through tough economic times, either as a consequence of wars or economic depressions, have responded to crises by enacting unpopular policy measures based on difficult tradeoffs, which often made way for innovation. The authors outline policy responses to the COVID-19 crisis and propose several interventions to mitigate its effects. These include developing innovative approaches to fiscal and monetary policies, labour market policies, industrial policies, as well as social policies. Building state capabilities, improving the governance and performance of state institutions, and managing digital change are some of the clear policy interventions that are laid out in this book.

"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.

This book examines the COVID-19 pandemic through socioeconomic lens that draw on history, approaches to state-market relations, and public policy perspectives In 2020, the world experienced the worst pandemic since the outbreak of the Spanish Flu of 1918, which continues to have far[1]reaching implications for the global economy and triggered macro-economic dislocations that severely affected the most vulnerable countries and segments of society. This book was conceived as a response to the disruptive shifts induced by the pandemic, with a particular focus on South Africa. International experience has shown that countries and societies that have gone through tough economic times, either as a consequence of wars or economic depressions, have responded to crises by enacting unpopular policy measures based on difficult tradeoffs, which often made way for innovation. The authors outline policy responses to the COVID-19 crisis and propose several interventions to mitigate its effects. These include developing innovative approaches to fiscal and monetary policies, labour market policies, industrial policies, as well as social policies. Building state capabilities, improving the governance and performance of state institutions, and managing digital change are some of the clear policy interventions that are laid out in this book. Mzukisi Qobo is Head of School at the Wits School of Governance, University of the Witwatersrand, South Africa. Mills Soko is Professor of International Business and Strategy at the Wits Business School, University of the Witwatersrand, South Africa. Nomfundo Xenia Ngwenya is Visiting Research Fellow at the Wits School of Governance, University of the Witwatersrand, South Africa. She is also Managing Director at NXN Analytics.

Funding low-carbon transitions to address climate change is one of the major challenges of our time. Green bonds have emerged as a powerful tool to enlist institutional investors’ wealth for these transitions. But despite exponential growth in many parts of the world, the green bond market in South Africa has been stalling. This book project grapples with this puzzle. Firstly, it debunks some of the promises underpinning green bond markets and traces the manifold practices undergirding its promotion. Secondly, it identifies some barriers prohibiting the expansion of green bonds in emerging markets and zooms in on the depoliticizing tendencies a transition premised on financial innovation produces. Thirdly, this work discloses the idiosyncratic political economic challenges of a fossil-based economy in transition and shines a light on the competing elements of a ‘green’ and a ‘just’ transition. It argues that the limited uptake of green bonds can best be explained by the instrument’s inability to adequately incorporate the various demands levied on South Africa’s contested transition trajectory. In so doing, this book contributes important new qualitative insights into green bond markets-in-the-making and extends political economic scholarship on finance-led transition endeavors in emerging markets. Chapters 3 and 6 is available open access under a Creative Commons Attribution 4.0 International License via link.springer.com.

This companion report to the World Development Report (WDR) 2019: The Changing Nature of Work addresses the key themes of creating productive jobs and addressing the needs of those left behind. It builds on and contextualizes some of WDR 2019's main messages to key specificities of the sub-Saharan Africa (SSA) region. It focuses on how global trends especially the adoption of digital technologies (DTs) may change the nature of work in SSA by creating new opportunities and challenges. The report is structured around three main issues that will shape the future of work in Africa, namely the human capital needs of a young and rapidly growing largely low-skilled labor force, the prevalence of informal workers and enterprises and the social protection policies to mitigate risks resulting from disruptions to labor markets. The report highlights important unanswered policy questions where new research, supplemented by new data, could yield learnings with high policy payoffs in the SSA context.

The coronavirus pandemic that has rocked China since December 2019 has posed a gruelling test for the resilience of the country's national economy. Now, as China emerges from its Covid-induced "recession", it feels like the worst is behind it. How did China manage to come out almost unscathed from the worst crisis in over a century? This Report examines how China designed and implemented its post-Covid recovery strategy, focussing on both the internal and external challenges the country had to face over the short- and medium-run. The book offers a comprehensive argument suggesting that, despite China having lost economic and political capital during the crisis, Beijing seems to have been strengthened by the "pandemic test", thus becoming an even more challenging "partner, competitor and rival" for Western countries.

This is a comprehensive book series that comprises two distinct yet interconnected volumes. Volume I focuses on international relations and global politics, while Volume II delves into social sciences and humanities studies. Both volumes revolve around the central theme of the COVID-19 pandemic era, exploring its profound impact on various aspects of the world. In Volume I, scholars, and experts in the field of international relations delve into the intricate dynamics of global politics in the context of the pandemic. They analyse the shifting power dynamics, the role of international organisations, the challenges to global governance, and the geopolitical implications of the crisis. This book provides valuable insights into how the pandemic has shaped and transformed the international system, influencing state behaviour, diplomatic relations, and global cooperation. Volume II takes a multidisciplinary approach, examining the social, cultural, economic, and psychological dimensions of the COVID-19 pandemic. Experts from the fields of social sciences and humanities contribute their research and perspectives, offering critical analyses of the pandemic's effects on societies, communities, individuals, and various aspects of human life. Together, these two volumes provide a comprehensive exploration of the COVID-19 pandemic's impact on world politics, society, and human experiences. By bringing together scholars from different disciplines, the book series offers a holistic understanding of the challenges and opportunities presented by this unprecedented global crisis. It serves as a valuable resource for academics, policymakers, and anyone seeking to comprehend and navigate the complexities of the COVID-19 era.

The COVID-19 pandemic has, with alarming speed, dealt a heavy blow to an already-weak global economy, which is expected to slide into its deepest recession since the second world war, despite unprecedented policy support. The global recession would be deeper if countries take longer to bring the pandemic under control, if financial stress triggers defaults, or if there are protracted effects on households and firms. Economic disruptions are likely to be more severe and protracted in emerging market and developing economies with larger domestic outbreaks and weaker medical care systems; greater exposure to international spillovers through trade, tourism, and commodity and financial markets; weaker macroeconomic frameworks; and more pervasive informality and poverty. Beyond the current steep economic contraction, the pandemic is likely to leave lasting scars on the global economy by undermining consumer and investor confidence, human capital, and global value chains. Being mostly a reflection of the recent plunge in global energy demand, low oil prices are unlikely to provide much of a boost to global growth in the near term. While policymakers' immediate priorities are to address the health crisis and moderate the short-term economic losses, the likely long-term consequences of the pandemic highlight the need to forcefully undertake comprehensive reform programs to improve the fundamental drivers of economic growth, once the crisis abates. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by these economies, while the June edition contains shorter analytical pieces.