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Europe and Central Asia Economic Update, April 2016

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Abstract

The economies of Europe and Central Asia (ECA) are facing complex challenges. In the eastern part of the region the task of governments is to orchestrate a coordinated crisis response. The collapse of oil revenues and the associated decline in remittances triggered a chain reaction of shocks. Adjustment to these shocks requires a new monetary policy regime, resolution of serious fragilities in banking sectors, fiscal reforms that put government finances on a sustainable path, while guaranteeing fair burden sharing, and facilitation of job creation in sectors that compete internationally. In the western part of the region policy coordination within the European Union is being tested by the refugee crisis and a possible Brexit. Meanwhile the Chinese economy has slowed down and is in the process of fundamental transformation. Also these developments have major impacts on the ECA region. The report analyses all these challenges and points at the opportunities to become more competitive in global markets.

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  • World Bank, "undated". "Europe and Central Asia Economic Update, April 2016," World Bank Publications - Reports 24013, The World Bank Group.
    • Handle: RePEc:wbk:wboper:24013
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    References listed on IDEAS

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    1. James E. Anderson, 2011. "The Gravity Model," Annual Review of Economics, Annual Reviews, vol. 3(1), pages 133-160, September.
    2. Lakatos, Csilla & Maliszewska, Maryla & Osorio Rodarte, Israel & Go, Delfin S, 2016. "China’s Slowdown and Rebalancing: Potential Growth and Poverty Impacts on Sub-Saharan Africa," Conference papers 332730, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
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    Cited by:

    1. Simona Malovana, 2017. "Banks' Capital Surplus and the Impact of Additional Capital Requirements," Working Papers 2017/8, Czech National Bank.
    2. Dieppe, Alistair & Gilhooly, Robert & Han, Jenny & Korhonen, Iikka & Lodge, David, 2018. "The transition of China to sustainable growth – implications for the global economy and the euro area," Occasional Paper Series 206, European Central Bank.
    3. Olivér Kovács, 2019. "Grounding Complexity Economics in Framing Modern Governance," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 69(4), pages 571-594, December.
    4. Apurva Sanghi & Andrew Burns & Calvin Djiofack & Dinar Prihardini & Jagath Dissanayake & Claire Hollweg, 2017. "A Rebalancing China and Resurging India," World Bank Publications - Books, The World Bank Group, number 28422.

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