Full report
Published: 8 October 2019

Global Competitiveness Report 2019

Chapter Three: Competitiveness, Equality and Sustainability – The Way Forward

Decades of focus on economic growth without equal focus on making growth inclusive and environmentally sustainable is having dire consequences for the planet and humankind. Accelerating climate change is already affecting hundreds of millions around the world, and it is likely that people under aged 60 could witness its radical destabilizing effects on Earth. In parallel, rising inequality, precarity and lack of social mobility—made worse by the 2008–2009 Great Recession—are undermining social cohesion with a growing sense of unfairness, perceived loss of identity and dignity, weakening social fabric, eroding trust in institutions, disenchantment with political processes, and an erosion of the social contract.

In addition, the recent track record of the global economy is underwhelming. Although many factors contribute to the fragility of the global economy, persisting weaknesses in the drivers of productivity, highlighted by the Global Competitiveness Index 4.0, are among the principal culprits (see Chapter 1).

Over the past decade, it has become clear that environmental, social and economic agendas can no longer be pursued separately and in parallel: they must be merged into a single inclusive and sustainable growth agenda. In this context, the two sections in this chapter examine the relationship between competitiveness and the two other dimensions of sustainable development—shared prosperity and environmental sustainability. Both sections show that there are no inherent tradeoffs between competitiveness and sustainability, and between competitiveness and social cohesion. They explore the “win-win” policy space, revealing that a productive, low-carbon, inclusive economy is possible—and the only viable option going forward. They also make it clear, however, that win-win policies do not depend strictly on competitiveness. Countries with the same level of competitiveness can achieve very different environmental and societal outcomes, because of different priorities and policy choices made over the course of many years.

For example, when it comes to social mobility in the United Kingdom, it takes, on average, five generations for a low-income family to reach the mean income (Figure 1). By contrast, it takes only two generations in Denmark, which has the same GCI score as the United Kingdom (81.2). Similarly, when it comes to environmental sustainability, Denmark and Uruguay have increased their shares of renewable sources of energy significantly more than other countries at their respective levels of competitiveness (Figure 2).

Figure 1: Competitiveness and intergenerational mobility, selected countries

Source: Source: World Economic Forum and OECD, A Broken Social Elevator? How to Promote Social Mobility, 2018.

Notes: Number of generations refers to the number of generations needed for those born in low-income families (bottom 10% of the income distribution) to reach mean income in their society.
AUS = Australia; BRA = Brazil; CAN = Canada; CHL = Chile; CHN = China; COL = Colombia; DEU = Germany; DNK = Denmark; ESP = Spain; FIN = Finland; FRA = France; GBR = United Kingdom; HUN = Hungary; IND = India; IRL = Ireland; ITA = Italy; JPN = Japan; KOR = Korea; NOR = Norway; PRT = Portugal; SWE = Sweden; USA=United States; ZAF = South Africa.

Figure 2: Competitiveness and renewable energy trends

Source: Sources: World Economic Forum; World Bank, Sustainable Energy For All (SE4ALL) database (accessed 10 September 2019).

Notes: Data available for 79 economies. CHE = Switzerland; CHL = Chile; CHN = China; DEU = Germany; DNK = Denmark; ESP = Spain; FIN = Finland; GEO = Georgia; GHA = Ghana; GRC = Greece; IND = India; ISR = Israel; JPN = Japan; MYS = Malaysia; NGA = Nigeria; NLD = Netherlands; SAU = Saudi Arabia; SWE = Sweden; TZA = Tanzania; URY = Uruguay; USA = United States; VEN = Venezuela; VNM = Viet Nam; ZWE = Zimbabwe.

Conclusion

The need for a new economic agenda that combines environmental, social and economic growth objectives has been recognized by all stakeholders in advanced, emerging and developing countries alike. We have shown how achieving productivity growth is not just compatible with greater equality and environmental sustainability, but may in fact spur a new era of quality economic growth.

The challenge is the implementation of such an ambitious agenda. Transitioning to such a new development path will require significant efforts, bold policies and resolving some potential trade-offs.

Against this backdrop, all stakeholders need to come together and agree on a shared common solution—failing to do so may jeopardize present and future generations. In a multi-stakeholder fashion, policy-makers, business leaders and civil societies around the world should act together and take full responsibility for adopting policies, practices and behaviours that are aligned with the common goal of achieving widespread prosperity and sustainable development.

References

Aghion, Philippe, Ufuk Akcigit, Antonin Bergeaud, Richard Blundell and David Hémous, Innovation and Top Income Inequality, NBER Working Paper No. 21247, National Bureau of Economic Research, 2015.

Aiyar, Shekhar and Christian Ebeke, Inequality of Opportunity, Inequality of Income and Economic Growth, IMF Working Paper WP/19/34, International Monetary Fund, 2019.

Amundi, Economic Modelling of Climate Risks, Working paper 083-2019, 2019, http://research-center.amundi.com/page/Publications/Working-Paper/2019/Economic-Modeling-of-Climate-Risks?search=true.

Aschhoff, Birgit and Wolfgang Sofka, “Innovation on Demand: Can Public Procurement Drive Market Success of Innovations?”, Research Policy, vol. 38., no. 8, 2009, pp. 1235–1247.

Autor, David H., David Dorn and Gordon H. Hanson, “The China Syndrome: Local Labor Market Effects of Import Competition in the United States”, American Economic Review, vol. 103, no. 6, 2013, pp. 2121–2168.

Autor, David, David Dorn, Lawrence F. Katz, Christina Patterson and John Van Reenen, “Concentrating on the Falling Labor Share”, American Economic Review, vol. 107, no. 5, 2017, pp. 180–185.Bernstein, Jared, “Faster productivity growth would be great. I”m just not sure we can count on it to lift middle class incomes”, On the Economy Jared Bernstein Blog, 21 April 2015.

BIS Committee on the Global Financial System, Structural Changes in Banking after the Crisis, CGFS Papers No. 60, 2018, https://www.bis.org/publ/cgfs60.pdf.

Bivens, Josh and Lawrence Mishel, “Understanding the Historic Divergence between Productivity and a Typical Worker’s Pay”, Economic Policy Institute Briefing Paper No. 406, Economic Policy Institute, 2015.

Blanchard, Olivier and Francesco Giavazzi, “Macroeconomic Effects of Regulation and Deregulation in Goods and Labor Markets“, The Quarterly Journal of Economics, vol. 118, no. 3, 2003, pp. 879–907.

Borio, Claudio, Enisse Kharroubi, Christian Upper and Fabrizio Zampolli, “Labour Reallocation and Productivity Dynamics: Financial Causes, Real Consequences”, BIS Working Paper No. 534, BIS, 2016.

Brock, William A. and M. Scott Taylor, “Chapter 28 – Economic Growth and the Environment: A Review of Theory and Empirics”, Handbook of Economic Growth, vol. 1, part B, 2005, pp. 1749–1821, https://www.sciencedirect.com/science/article/pii/S1574068405010282.

Brunori, Paolo, Francisco H. G. Ferreira, and Vito Peragine, Inequality of Opportunity, Income Inequality and Economic Mobility: Some International Comparisons, IZA Discussion Paper No. 7155, 2013, http://ftp.iza.org/dp7155.pdf.

Cai, Xiqian, Lu, Yi and Wang, Jin, “The impact of temperature on manufacturing worker productivity: Evidence from personnel data,” Journal of Comparative Economics, Elsevier, vol. 46, no. 4,2019, pp. 889-905.

Carroll, Robert and Alan D. Viard, Progressive Consumption Taxation: The X-Tax Revisited, American Enterprise Institute for Policy Research, 2012.

Causa, Orsetta and Mikkel Hermansen, Income Redistribution through Taxes and Transfers across OECD Countries, OECD Economics Department Working Papers no. 1453, OECD, 2017.

Chetty, Raj, David Grusky, Maximilian Hell, Nathaniel Hendren, Robert Manduca and Jimmy Narang, The Fading American Dream: Trends in Absolute Income Mobility Since 1940, NBER Working Paper No. 22910, National Bureau of Economic Research, 2016, revised 2019.

Casey, Gregory and Oded Galor, “Is Faster Economic Growth Compatible with Reductions in Carbon Emissions? The Role of Diminished Population Growth”, Environmental Research Letters, vol. 12, no. 1, 2017, 014003.

Cingano, Federico, Trends in Income Inequality and its Impact on Economic Growth, OECD Social, Employment and Migration Working Papers No. 163, OECD, 2014.

Clay, Karen, Joshua Lewis and Edson Severnini, Canary in a Coal Mine: Infant Mortality, Property Values, and Tradeoffs Associated with Mid-20th Century Air Pollution, NBER Working Paper No. 22155, National Bureau of Economic Research, 2016, revised 2019.

Coady, David, Ian Parry, Nghia-Piotr Le and Baoping Shang, Global Fossil Fuel Subsidies Remain Large: An Update Based on Country-Level Estimates, IMF Working Paper WP/19/89, International Monetary Fund, 2019.

Covarrubias, Matias, Germán Gutiérrez and Thomas Philippon, From Good to Bad Concentration? U.S. Industries over the Past 30 Years, Chapter, in: NBER Macroeconomics Annual 2019, volume 34 National Bureau of Economic Research, Inc. 2019.

Dauth, Wolfgang, Sebastian Findeisen and Jens Suedekum, “Trade and Manufacturing Jobs in Germany“. American Economic Review, vol. 107, no. 5, 2017, pp. 337–342.

Dechezleprêtre, Antoine, Ralf Martin, and Samuela Bassi, Climate Change Policy, Innovation and Growth, Grantham Research Institute on Climate Change and the Environment and Global Green Growth Institute, Policy Brief, January 2016, http://www.lse.ac.uk/GranthamInstitute/wp-content/uploads/2016/01/Dechezlepretre-et-al-policy-brief-Jan-2016.pdf.

Doig, Alison and Mohamed Adow, Low-Carbon Africa: Leapfrogging to a Green Future, Christian Aid, November 2011, https://www.christianaid.org.uk/sites/default/files/2017-08/low-carbon-africa-leapfrogging-green-future-november-2011.pdf.

Egger, Peter H., Sergey Nigai and Nora M. Strecker, “The Taxing Deed of Globalization”, American Economic Review, vol. 109, no. 2, 2019, pp. 353–390.

European Commission, Atmosphere Monitoring Service, Copernicus Programme, CAMS Monitors Unprecedented Wildfires in the Arctic, Press Release, 11 July 2019, https://atmosphere.copernicus.eu/cams-monitors-unprecedented-wildfires-arctic.

Fehr, Ernst and Urs Fischbacher, “The Nature of Human Altruism”, Nature, vol. 425, 2003, pp. 785–791.

Ferreira, Francisco H. G. and Jérémie Gignoux. “The Measurement of Inequality of Opportunity: Theory and an Application to Latin America”, The Review of Income and Wealth, vol. 57, no. 4, 2011, pp. 662–657.

Financial Times, “ESG Groups Try to Thin a Thicket of Sustainability Metrics”, Financial Times, 11 June 2019, https://www.ft.com/content/1244dc6e-8bec-11e9-a1c1-51bf8f989972.

Foroohar, Rana, Makers and Takers: The Rise of Finance and the Fall of American Business, Crown Business, Penguin Random House, 2106.

Fritsche, Uwe, Göran Berndes, Annette L. Cowie, Virginia H. Dale and Keith L. Kline, Francis X. Johnson, Hans Langeveld, Navin Sharma, Helen Watson and Jeremy Woods, Energy and Land Use, Global Land Outlook Working Paper, UNCCD and IRENA, 2017, https://knowledge.unccd.int/sites/default/files/2018-06/2.%20Fritsche%2Bet%2Bal%2B%282017%29%2BEnergy%2Band%2BLand%2BUse%2B-%2BGLO%2Bpaper-corr.pdf.

Frye, Wilbur W., “Energy Requirement in No-Tillage”, in No-Tillage Agriculture, edited by Ronald E. Phillips and Shirley H. Phillips, Springer, 1984, pp. 127–151.Furman, Jason and Peter Orszag, Slower Productivity and Higher Inequality: Are They Related?, PIIE (Peterson Institute for International Economics Working Paper No. 18-4, 2018.

Galor, Oded, Inequality, Human Capital Formation and the Process of Development, IZA Discussion Paper No. 6328, 2012.Ghosh, Atish R. and Mahvash S. Qureshi, What’s In a Name? That Which We Call Capital Controls, IMF Working Paper WP/16/25, 2016.

Greiner, Alfred, “Global Warming in a Basic Endogenous Growth Model,” Society for Environmental Economics and Policy Studies – SEEPS, vol. 6, no. 1, 2004, pp. 49–73.

Grossman, Gene M., Elhanan Helpman, Ezra Oberfield and Thomas Sampson, The Productivity Slowdown and the Declining Labour Share: A Neoclassical Exploration, NBER Working Paper No. 23853, National Bureau of Economic Research, 2017.

Gruber, Jonathan and Simon Johnson, Jump-Starting America: How Breakthrough Science Can Revive Economic Growth and the American Dream, Hatchette Book Group, Inc., 2019.

GSIA (Global Sustainable Investment Alliance), 2018 Global Sustainable Investment Review, GSIA, 2019, http://www.gsi-alliance.org/wp-content/uploads/2019/06/GSIR_Review2018F.pdf.

Harrison, Ann, Has Globalization Eroded Labor’s Share? Some Cross-Country Evidence, MPRA Paper, 2005.

He, Jiaxiu, Haoming Liu and Alberto Salvo, “Severe Air Pollution and Labor Productivity: Evidence from Industrial Towns in China”, American Economic Journal: Applied Economics,, vol. 11, no. 1, 2019, 173 DOI: 10.1257/app.20170286.

Hémous, David and Morton Olsen, “The Rise of the Machines: Automation, Horizontal Innovation and Income Inequality”, American Economic Journal: Macroeconomics, 2018.

Hernandez, Rebecca, Madison K. Hoffacker and Christopher B. Field, “Land-Use Efficiency of Big Solar”, Environmental Science & Technology, vol. 48, no. 20, 2013.

Hornbeck, Richard and Enrico Moretti, Who Benefits from Productivity Growth? Direct and Indirect Effects of Local TFP Growth on Wages, Rents, and Inequality, NBER Working Paper No. 24661, National Bureau of Economic Research, 2019.

Huang, Jr-Tsung, “Sulfur Dioxide (SO2) Emissions and Government Spending on Environmental Protection in China: Evidence from Spatial Econometric Analysis”, Journal of Cleaner Production, vol. 175, 2018, pp. 431–441.

International Labor Organization (ILO) Working in a Warmer Planet, 2019,International Monetary Fund (IMF), World Economic Outlook, April 2019: Growth Slowdown, Precarious Recovery, 2019.

Jha, Akshaya, Peter H. Matthews, and Nicholas Z. Muller, “Does Environmental Policy Affect Income Inequality? Evidence from the Clean Air Act”, AEA Papers and Proceedings, vol. 109, May 2019, pp. 271–276, https://www.aeaweb.org/articles?id=10.1257/pandp.20191062.

Kahn, Brian, “These NASA Images Show Siberia Is Burning Up”, Climate Central, 28 June 2017, https://www.climatecentral.org/news/nasa-siberia-wildfires-21576.

Keiser, David A. and Joseph S. Shapiro, “Consequences of the Clean Water Act and the Demand for Water Quality”, Quarterly Journal of Economics, vol. 134, no. 1, 2019, pp. 349–396.Khan, Lina M., “Amazon’s Antitrust Paradox”, The Yale Law Journal, vol. 126, no. 3, 2017, pp. 564–907.

Kibria, Ahsan, Sherzod B. Akhundjanov, and Reza Oladi, “Fossil Fuel Share in the Energy Mix and Economic Growth“, International Review of Economics & Finance, vol. 59(C), 2019, pp. 253–264.

Knittel, Christopher R., Douglas L. Miller, and Nicholas J. Sanders, “Caution, Drivers! Children Present: Traffic, Pollution, and Infant Health,” Review of Economics and Statistics, vol. 98, no. 2, 2016, pp. 350–366.

KOINNO, Public Procurement of Innovation: Guide, 2nd edition, 2017, Federal Ministry for Economic Affairs and Energy (BMWi), 2017, http://procure2innovate.eu/fileadmin/user_upload/Documents/KOINNO_PublicProcurementofInnovation.pdf.

KPMG, The KPMG Green Tax Index 2013, KPMG International Corporation, 2013, https://assets.kpmg/content/dam/kpmg/pdf/2013/08/kpmg-green-tax-index-2013.pdf.

Krippner, Greta R., Capitalizing on Crisis: The Political Origins of the Rise of Finance, Harvard University Press, 2012.

Kwoka, John E., U.S. Antitrust and Competition Policy Amid the New Merger Wave, Washington Center for Equitable Growth, 27 July 2017, https://equitablegrowth.org/research-paper/u-s-merger-policy-amid-the-new-merger-wave/.

Lankisch, Clemens, Klaus Prettner, and Alexia Prskawetz, Robots and the Skill Premium: An Automation-Based Explanation of Wage Inequality, ECON WPS – Vienna University of Technology Working Papers in Economic Theory and Policy, Working Paper No. 06/2017, 2017.

Lawrence, Robert Z., Recent Declines in Labour’s Share in US Income: A Neoclassical Account, NBER Working Paper No. 21296 and PIIE (Peterson Institute for International Economics Working Paper No. 15-10, 2015.

———, “Does Productivity Still Determine Worker Compensation? Domestic and International Evidence”, in The US Labour Market: Questions and Challenges for Public Policy, edited by Michael R. Strain, American Enterprise Institute Press, 2016.

Leach, Allison M., James N. Galloway, Albert Bleeker, Jan Willem Erisman, Richard Kohn and Justin Kitzes, “A Nitrogen Footprint Model to Help Consumers Understand Their Role in Nitrogen Losses to the Environment”, Environmental Development, vol. 1, no. 1, 2012, pp. 40–60

Lee, Allison and Alex Doukas, Assessing International Public Finance for Energy in Africa: Where Do Development and Climate Priorities Stand? Oil Change International, July 2018.

Lichtenberg, Frank, “The Impact of Pharmaceutical Innovation on Premature Cancer Mortality in Canada, 2000–2011”, International Journal of Health Economics and Management, vol. 15, No. 3, 2015, pp. 339–359.

Mathew, Anuj J. and Santiago Fernández de Córdoba, “The Green Dilemma about Liberalization of Trade in Environmental Goods”, Journal of World Trade, vol. 43, no. 2, 2009, pp. 379–416.

McKinsey Global Institute, A New Look at the Declining Labor Share of Income in the United States, Discussion Paper, May, 2019a.

———, Inequality: A Persisting Challenge and Its Implications, Discussion Paper, June, 2019b.

Meadows, Donella H., Dennis L. Meadows, Jørgen Randers and William W. Behrens III, The Limits to Growth, Universe Books, 1972.Mendelsohn, Robert, William D. Nordhaus and Daigee Shaw, “The Impact of Global Warming on Agriculture: A Ricardian Analysis”, The American Economic Review, vol. 84, no. 4, 1994, pp. 753–771.

Nel, Willem P. and Christopher J. Cooper, “Implications of Fossil Fuel Constraints on “Economic Growth and Global Warming,” Energy Policy, vol. 37, no. 1, January 2009, pp. 166–180, https://ideas.repec.org/a/eee/enepol/v37y2009i1p166-180.html.

Nordhaus, William D., The ‘DICE’ Model: Background and Structure of a Dynamic Integrated Climate-Economy Model of the Economics of Global Warming, Cowles Foundation Discussion Papers 1009, Cowles Foundation for Research in Economics, Yale University, 1992.

OECD (Organisation for Economic Co-operation and Development), Towards Green Growth: A Summary for Policy Makers, 2011.

———, Effective Carbon Rates 2018: Pricing Carbon Emissions Through Taxes and Emissions Trading, OECD Publishing, 2018, https://doi.org/10.1787/9789264305304-en.

OECD and IEA, Update on Recent Progress in Reform of Inefficient Fossil-Fuel Subsidies that Encourage Wasteful Consumption, 2019, https://oecd.org/fossil-fuels/publication/OECD-IEA-G20-Fossil-Fuel-Subsidies-Reform-Update-2019.pdf.

OFT (Office of Fair Trading), Assessing the Impact of Public Sector Procurement on Competition, 2004.

Ostry, Jonathan D., Andrew Berg and Charalambos G. Tsangarides, Redistribution, Inequalitys and Growth, IMF Staff Discussion Note No. 14/02, 2014

Oxford Institute for Energy Studies, The Energy Transition and Oil Companies” Hard Choices, 2019, https://www.oxfordenergy.org/publications/the-energy-transition-and-oil-companies-hard-choices/?v=1ee0bf89c5d1.

Paul, Pascal, Historical Patterns of Inequality and Productivity around Financial Crises, Federal Reserve Bank of San Francisco Working Paper 2017-23, 2018, https://www.frbsf.org/economic-research/files/wp2017-23.pdf.

Pearce, Fred, “Can the World Find Solutions to the Nitrogen Pollution Crisis?” YaleEnvironment360, 6 February 2018, https://e360.yale.edu/features/can-the-world-find-solutions-to-the-nitrogen-pollution-crisis.

Piketty, Thomas, Capital in the Twenty-First Century, translated by Arthur Goldhammer, Belknap Press, 2014.

Rath, Badri Narayan, Vaseem Akram, Debi Prasad Bal and Mantu Kumar Mahalik, “Do Fossil Fuel and Renewable Energy Consumption Affect Total Factor Productivity Growth? Evidence from Cross-Country Data with Policy Insights,” Energy Policy, vol. 127(C), 2019, pp. 186–199.

Rawls, John, A Theory of Justice, Cambridge: The Belknap Press of Harvard University Press, 1971.

Rockström, Johan, Will Steffen, Kevin Noone, Åsa Persson, F. Stuart Chapin, III, Eric F. Lambin, Timothy M. Lenton, Marten Scheffer, Carl Folke, Hans Joachim Schellnhuber, Björn Nykvist, Cynthia A. de Wit, Terry Hughes, Sander van der Leeuw, Henning Rodhe, Sverker Sörlin, Peter K. Snyder, Robert Costanza, Uno Svedin, Malin Falkenmark, Louise Karlberg, Robert W. Corell, Victoria J. Fabry, James Hansen, Brian Walker, Diana Liverman, Katherine Richardson, Paul Crutzen, and Jonathan A. Foley “A Safe Operating Space for Humanity”, Nature, vol. 461, 24 September 2009, pp. 472–475.

Rodrik, Dani, Is Global Equality the Enemy of National Equality?, CEPR Discussion Papers, 11812, C.E.P.R. Discussion Papers, 2017.Roemer, John, Equality of Opportunity, Cambridge: Harvard University Press, 1998

Samawi, Ghaza A., Metri F. Mdanat and Talah S. Arabiyat, “The Role of Energy Supply in Economic Growth: Evidence from the Oil Importing Countries“, International Journal of Energy Economics and Policy, Econjournals, vol. 7, no. 6, 2018, pp. 193–200.

Sanzillo, Tom, IEEFA op ed: New York State Pension Fund Should Divest from Fossil Fuels”, Institute for Energy Economics and Financial Analysis, 20 March 2019, http://ieefa.org/ieefa-update-new-york-state-pension-fund-should-divest-from-fossil-fuels/.

Sen, Amartya, Equality of What? The Tanner Lecture on Human Values, Delivered at Stanford University, 22 May 1979, http://www.ophi.org.uk/wp-content/uploads/Sen-1979_Equality-of-What.pdf.

Sequeira, Tiago Neves, Marcelo Santos, and Alexandra Ferreira‐Lopes, “Income Inequality, TFP, and Human Capital”, Economic Record, 16 January 2017.

Sherman, Matthew, A Short History of Financial Deregulation in the United States, Center for Economic and Policy Research (CEPR), 2009.

Springmann, Marco, Michael Clark, Daniel Mason-D”Croz, Keith Wiebe, Benjamin Leon Bodirsky, Luis Lassaletta, Wim de Vries, Sonja J. Vermeulen, Mario Herrero, Kimberly M. Carlson, Malin Jonell, Max Troell, Fabrice DeClerck, Line J. Gordon, Rami Zurayk, Peter Scarborough, Mike Rayner, Brent Loken, Jess Fanzo, H. Charles J. Godfray, David Tilman, Johan Rockström and Walter Willett, “Options for Keeping the Food System within Environmental Limits”, Nature, vol. 562, 2018, pp. 519–525.

Stansbury, Anna M. and Lawrence H. Summers, Productivity and Pay: Is the Link Broken? , NBER Working Paper No. 24165, National Bureau of Economic Research, 2017.

Stewart, W. M., D. W. Dibb, A. E. Johnston and T. J. Smyth, “The Contribution of Commercial Fertilizer Nutrients to Food Production”, Agronomy Journal, vol. 97, no. 1, 2005, pp. 1–6.

Summers, Lawrence H. and Jason Furman, Who’s Afraid of Budget Deficits?, Larry Summers, 2019, http://larrysummers.com/2019/01/28/whos-afraid-of-budget-deficits/.

UNEP (United Nations Environment Programme), Global Review of Sustainable Public Procurement, United Nations Environment Programme, 2017, https://www.oneplanetnetwork.org/sites/default/files/globalreview_web_final.pdf.

World Bank Group, High and Dry: Climate Change, Water, and the Economy, 2016, https://openknowledge.worldbank.org/handle/10986/23665 License: CC BY 3.0 IGO.

World Economic Forum, 2017 Annual Meeting, Davos-Klosters, Switzerland, 17-20 January 2017.

———, Dialogue Series on New Economic and Social Frontiers – Shaping the New Economy in the Fourth Industrial Revolution, 2019a, https://report-files.weforum.org/docs/WEF_Dialogue_Series_on_New_Economic_and_Social_Frontiers.pdf.

———, Dialogue Series on New Economic and Social Frontiers -The future of Fiscal Policy, 2019b.

———, The Global Competitiveness Report 2018, 2018.

World Inequality Lab, World Inequality Report 2018, 2018, https://wid.world/.

Yildirim, Kemal, Cuneyt Koyuncu and Julide Koyuncu, “Does Temperature Affect Labor Productivity: Cross-Country Evidence,” Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 9, no. 1, 2009.

Zucman, Gabriel, “Taxing across Borders: Tracking Personal Wealth and Corporate Profits”, Journal of Economic Perspectives, vol. 28, no. 4, 2014, pp. 121–148.

About Us
Events
Media
Partners & Members
Language Editions

Privacy Policy & Terms of Service

© 2023 World Economic Forum