The report is available from the UNWTO website.
Based on McKinsey expertise, insights and tools, GEP represents the latest consensus on how the energy transition will unfold. The study takes into account both macro- and micro-economic developments and the model shows demand projections for 145 countries, 28 sectors, and 55 fuel types.
The report is available from the McKinsey website.
Modern economies reward activities that extract value rather than create it. This must change to ensure a capitalism that works for us all.
Shortlisted for the FT & McKinsey Business Book of the Year Award.
A scathing indictment of our current global financial system, The Value of Everything rigorously scrutinizes the way in which economic value has been accounted and reveals how economic theory has failed to clearly delineate the difference between value creation and value extraction. Mariana Mazzucato argues that the increasingly blurry distinction between the two categories has allowed certain actors in the economy to portray themselves as value creators, while in reality they are just moving around existing value or, even worse, destroying it.
The book uses case studies-from Silicon Valley to the financial sector to big pharma-to show how the foggy notions of value create confusion between rents and profits, reward extractors and creators, and distort the measurements of growth and GDP. In the process, innovation suffers and inequality rises.
The lesson here is urgent and sobering: to rescue our economy from the next inevitable crisis and to foster long-term economic growth, we will need to rethink capitalism, rethink the role of public policy and the importance of the public sector, and redefine how we measure value in our society. Provided by publisher.
You can find this title at IESE’s Library catalog.
The report includes size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic forecasts.
The profile also contains descriptions of the leading players (in this case: China Guodian Corporation, Huadian Power International Corporation Limited, Korea Electric Power Corporation and, State Power Investment Corporation) including key financial metrics and analysis of competitive pressures within the market, making use of the Five Forces analysis.
The fulltext of the report is available on the web to students, professors, research assistants and staff of the IESE community.
The world’s major industries are all set for further growth in 2019, but there are some worrying risks. “Industries in 2019” examines examine the top five global risks affecting six key industry sectors: automotive, consumer goods and retail, energy, financial services, healthcare, and telecoms. The report analyses what to expect for 2019, focusing on how these challenges could impact our industry forecasts for the year ahead.
The report is available to download from the Economist Intelligence Unit website (pre-registration is required).
According to the report, the Spanish economy continues its strong growth, thanks to past structural reforms, robust employment growth and accommodative macroeconomic policies. However, the legacy of the crisis has not yet been fully overcome and imbalances remain.
The robust recovery provides an opportunity to keep reducing macroeconomic and financial vulnerabilities, such as high public and external debt. The resilience of public finances should be increased to address medium-term challenges, including spending pressures from demographic changes. Income inequality is high and displays regional differences in Spain. More effective use of taxes and transfers, bringing people back into employment and reducing regional disparities would make growth more inclusive. Improving productivity growth, which remains subdued, will require firms to be more exposed to competition and innovation. Policies to improve education and skills will deliver results not only in terms of productivity growth, but also better employment prospects and wages. Spain is a highly decentralised country, making the effective implementation of national reforms dependent on regional policies. More effective coordination and cooperation across different levels of government are needed to improve the effectiveness of policies.
The full text is available for the IESE Community here.
Two-thirds of the EU labour force are in permanent, full-time employment; the remaining one-third has a non-standard employment status, meaning temporary or part-time employment or self-employment. Given the variety of employment statuses, it is worth asking whether working conditions differ across them. This policy brief uses data from the 2015 European Working Conditions Survey to investigate the job quality associated with different employment statuses in the 28 EU Member States. It finds that temporary and part-time workers as well as self-employed workers without employees are more likely to experience poorer job quality than permanent employees.
The full report “Does employment status matter for job quality?” is available on the web.
The OECD has just published its latest Economic Outlook. According to the report, global economic growth remains strong but has passed its recent peak and faces escalating risks including rising trade tensions and tightening financial conditions.
Growth forecasts for next year have been revised down for most of the world’s major economies. Global GDP is now expected to expand by 3.5% in 2019, compared with the 3.7% forecast in last May’s Outlook, and by 3.5% in 2020.
In many countries, unemployment is at record lows and labour shortages are beginning to emerge. But rising risks could undermine the projected soft landing from the slowdown. Trade growth and investment have been slackening on the back of tariff hikes. Higher interest rates and an appreciating US dollar have resulted in an outflow of capital from emerging economies and are weakening their currencies. Monetary and fiscal stimulus is being withdrawn progressively in the OECD area.
The shakier outlook in 2019 reflects deteriorating prospects, principally in emerging markets such as Turkey, Argentina and Brazil, while the further slowdown in 2020 is more a reflection of developments in advanced economies as slower trade and lower fiscal and monetary support take their toll.
The Outlook says trade tensions are already harming global GDP and trade, and estimates that if the US hikes tariffs on all Chinese goods to 25%, with retaliatory action being taken by China, world economic activity could be much weaker. By 2021, world GDP would be hit by 0.5%, by an estimated 0.8% in the US and by 1% in China. Greater uncertainty would add to these negative effects and result in weaker investment around the world. The Outlook also shows that annual shipping traffic growth at container ports, which represents around 80% of international merchandise trade, has fallen to below 3% from close to 6% in 2017.
With very low interest rates in many countries – particularly in the euro area – and historically high debt-to-GDP levels (both public and private), policy-makers’ room for manoeuvre in case of a more marked global downturn is limited. The Outlook says it is important to maintain the capacity for tax and spending policies to stimulate demand if growth weakens sharply. Although such fiscal space is limited, co-ordinated action will be far more effective than countries going it alone. Such action should be focussed on growth-friendly measures, such as investment in physical and digital infrastructure and targeting consumption spending more towards the less well-off.
A special chapter in the Outlook shows how, as digitalisation spreads, the divide between high-skill, low-routine jobs and low-skill, high-routine work continues to grow, posing the risk of further widening inequalities. It says strengthening product market competition would not only prompt wider diffusion of new technologies, thereby raising productivity growth, but also help transfer output and efficiency gains to wages.
The full text is available for the IESE Community here.
Experience is making a comeback. Learn how to repurpose your wisdom.
At age 52, after selling the company he founded and ran as CEO for 24 years, rebel boutique hotelier Chip Conley was looking at an open horizon in midlife. Then he received a call from the young founders of Airbnb, asking him to help grow their disruptive start-up into a global hospitality giant. He had the industry experience, but Conley was lacking in the digital fluency of his 20-something colleagues. He didn’t write code, or have an Uber or Lyft app on his phone, was twice the age of the average Airbnb employee, and would be reporting to a CEO young enough to be his son. Conley quickly discovered that while he’d been hired as a teacher and mentor, he was also in many ways a student and intern. What emerged is the secret to thriving as a mid-life worker: learning to marry wisdom and experience with curiosity, a beginner’s mind, and a willingness to evolve, all hallmarks of the “Modern Elder.”
In a world that venerates the new, bright, and shiny, many of us are left feeling invisible, undervalued, and threatened by the “digital natives” nipping at our heels. But Conley argues that experience is on the brink of a comeback. Because at a time when power is shifting younger, companies are finally waking up to the value of the humility, emotional intelligence, and wisdom that come with age. And while digital skills might have only the shelf life of the latest fad or gadget, the human skills that mid-career workers possess—like good judgment, specialized knowledge, and the ability to collaborate and coach – never expire.
Part manifesto and part playbook, Wisdom@Work ignites an urgent conversation about ageism in the workplace, calling on us to treat age as we would other type of diversity. In the process, Conley liberates the term “elder” from the stigma of “elderly,” and inspires us to embrace wisdom as a path to growing whole, not old. Whether you’ve been forced to make a mid-career change, are choosing to work past retirement age, or are struggling to keep up with the millennials rising up the ranks, Wisdom@Work will help you write your next chapter. Provided by publisher.
You can find this title at IESE’s Library catalog.
The “OECD Science, Technology and Innovation Outlook 2018: Adapting to Technological and Societal Disruption” is the twelfth edition in a series that biennially reviews key trends in science, technology and innovation (STI) policy in OECD countries and a number of major partner economies.
The 14 chapters within this edition look at a range of topics, notably the opportunities and challenges related to enhanced data access, the impacts of artificial intelligence on science and manufacturing, and the influence of digitalisation on research and innovation. The report also discusses the shortcomings of current policy measures, how the Sustainable Development Goals are re-shaping STI policy agendas, and the need for new – more flexible and agile – approaches to technology governance and policy design. While these disruptive changes challenge policy makers in a number of ways, the digital revolution underway also provides solutions for better policy targeting, implementation and monitoring.
This report relies on the latest academic work in the field, research and innovation statistical data, as well as data on wider trends and issues. It makes extensive use of country responses to the 2017 EC OECD STI policy survey and features contributions by renowned experts and academics to broaden the debate and provide more personal, sometimes controversial, angles to it.
The full-text is available for the IESE Community here.