Fearonomics

This special episode in Fearonomics series looks at the economic risks of recent geopolitical turmoil.
Ths live event, where the EBRD launched their economic forecasts, analysed the impact of recent turbulence on the economic outlook, including fallout from Russia’s war on Ukraine, the energy crisis and rising inflation.

Participants: 
Beata Javorcik - Chief Economist, EBRD
Sergei Guriev – Professor, Sciences Po Provost

Heike Harmgart – EBRD Managing Director, SEMED
Jonathan Charles (Moderator) - former EBRD Managing Director, Communications

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At a time when we’re living through the highest inflation in decades, a cost of living crisis and dramatically falling rates of growth, the new Fearonomics episode looks at the cost of discrimination to the global economy.

Despite the recent advancement in the equality of rights and inclusion, 45 per cent of American workers have experienced discrimination in the past year, according to Gallup.

The World Bank’s Women, Business and the Law 2022 report states that around 2.4 billion women of working age lack equal economic opportunities and 178 countries maintain legal barriers that prevent their full economic participation.

In early 2022,the LGBTQ+ advocacy group HRC Foundation published a study showing that LGBTQ+ workers in the US earn about 90 cents for every dollar earned by a typical heterosexual worker.

Join Jonathan Charles, the EBRD’s Managing Director of Communications, Sergei Guriev, former EBRD Chief Economist and currently Professor of Economics at Science Po, and Beata Javorcik, the EBRD’s Chief Economist who is also Professor of Economics at Oxford University, to discuss how to protect the world economy’s most vulnerable groups.

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The new episode of the EBRD’s  Fearonomics podcast looks at the most common fears around migration.

The rate of growth of displaced people in the world is alarming. A 100 million is the latest UNHCR estimate -which equals to 1 per cent of the global population.

This stark anti-record reflects the precarious state of the world we are in.

The War on Ukraine, other conflicts, human rights violations, persecutions and violence are behind the unprecedented movement of people.

At the same, as the Covid-19 restrictions are being lifted across the world, the economic migration is expected to bounce back to pre-pandemic levels.

For centuries, the world has been living with the idea that migration has to hurt us and bring the world down. But why? Why are we so afraid of migrants?

Listen to Jonathan Charles, the EBRD’s Managing Director of Communications, in discussion with Sergei Guriev, former EBRD Chief Economist and currently Professor of Economics at Science Po, and Beata Javorcik, the EBRD’s Chief Economist who is also Professor of Economics at Oxford University.

Listen to the first episode of Fearonomics on iTunes, SoundCloud or wherever you get your podcasts.

Review our podcast on iTunes or tweet us @EBRD #Fearonomics

 You can rate, review and subscribe to Fearonomics on iTunes, Spotify and Soundcloud.

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The new episode of the EBRD’s  Fearonomics podcast explores the risks of future pandemics.

 

With new cases of monkeypox globally detected, the looming risks of growing anti-microbial resistance and the impact of climate crisis, is the next pandemic just around the corner?

 

The IMF has recently forecasted the global cost of the Covid-19 pandemic will rise beyond $12,5 trillion through 2024, fuelled by vast gaps in vaccination rates, widening divergence between rich and poor and disproportionate gender impacts.

 

But we have yet to suffer many of the hidden costs of the pandemic.

Such as the impact of education missed, the toll taken on mental health, the eroding of trust in governments.

 

Listen to Jonathan Charles, the EBRD’s Managing Director of Communications, in discussion with Sergei Guriev, former EBRD Chief Economist and currently Professor of Economics at Science Po, and Beata Javorcik, the EBRD’s Chief Economist who is also Professor of Economics at Oxford University.

Are we ready for the next pandemic?

Listen to the first episode of Fearonomics on iTunes, SoundCloud or wherever you get your podcasts.

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In the new episode of the EBRD’s  Fearonomics podcast Jonathan Charles, the EBRD’s Managing Director of Communications,  Sergei Guriev, former EBRD Chief Economist and now Professor of Economics at Science Po, and Beata Javorcik, the EBRD’s current Chief Economist, examine the threat to our economies from inflation and whether we risk an era of stagflation.

Policymakers had to step up support for businesses and the population at large when Covid-19 was at its worse. The strain on public budgets was palpable – even before Russia’s war on Ukraine.

 

The latest IMF forecast sees “war-induced commodity price increases and broadening price pressures” pushing inflation in 2022 to 5.7 per cent in advanced economies and 8.7 per cent in emerging market and developing economies.

 

So what’s next? Destabilised financial markets? Stagflation? Is this what the future of poverty looks like?

 

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The new episode of the EBRD’s  Fearonomics podcast explores the risks of rolling back globalisation.

Globalisation connected the world’s economies as never before. Cross-border trade in goods and services became a routine.

The financial crisis of 15 years ago highlighted how fast contagion can spread around the globe.

The Covid pandemic exposed how fragile supply chains can be. And now Russia’s war on Ukraine suggests that economic links can be a source of weakness, not strength.

Listen to Jonathan Charles, the EBRD’s Managing Director of Communications, in discussion with Sergei Guriev, former EBRD Chief Economist and currently Professor of Economics at Science Po, and Beata Javorcik, the EBRD’s Chief Economist who is also Professor of Economics at Oxford University.

Will the war on Ukraine – and the sanctions imposed on Russia as a result - deliver a fatal blow to the concept which has underpinned our understanding of the world economy for decades?

Fearonomics: will global energy crisis end the shift to green?

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In its second episode the EBRD’s new Fearonomics podcast is exploring what are the risks and solutions to the global energy crisis.

Listen to Jonathan Charles, EBRD’s Managing Director, Communications, Sergei Guriev, EBRD former Chief Economist and professor of economics at Science Po and Beata Javorcik, EBRD’s Chief Economist (current) and also professor of Economics at Oxford University discussing  

As Europe scrambles to find alternatives to Russian gas, some countries face the prospect of rationing and even fuel poverty.

Energy security, which had slipped down the priority lists of western policymakers, has made a big come back. 

Even before the outbreak of the war on Ukraine, the hike in energy prices had brought coal use globally to record levels over last winter, whilst clean energy use decreased- a worrying tendency.

Meanwhile, the latest UN International Panel for Climate Change report warning  that even if all the policies to cut carbon that governments had put in place by the end of 2020 were fully implemented, the world will still warm by 3.2C this century.

The next few years are critical, say the researchers, because if emissions aren't curbed by 2030, it will make it become impossible to limit warming up of climate.

Is there any way to avoid the climate catastrophy?

Listen to the first episode of the Fearonomics on iTunes, SoundCloud or wherever you get your podcasts from.

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Fearonomics: can we fix the looming food crisis?

EBRD’s new podcast confronts biggest economic fears

 

Listen to a new EBRD podcast called “Fearonomics”, which aims to help confront – and overcome - fears about the global economy by looking at the latest economic data, debunking myths and defining the risks to watch out for.

 

Jonathan Charles, EBRD’s Managing Director, Communications, will be discussing the most pressing issues with Sergei Guriev, EBRD former Chief Economist and professor of economics at Science Po and Beata Javorcik, EBRD’s Chief Economist (current) and also professor of Economics at Oxford University.

 

They will explore a wide range of economic fears from global famine to energy security and the death of globalisation.

 

In its first episode Fearonomics will be exploring whether the looming food crises is avoidable.

 

Even before the war on Ukraine and the pandemic according to the United Nation’s Food and Agriculture Organisation, 690 million people or 9% of the world’s population, were already facing food insecurity and hunger.

 

Now with Food Price Index reaching highest levels of all time, the consequences could be stark: from price hikes to social riots.

 

Is there any way to avoid the catastrophe?

 

Listen to the first episode of the Fearonomics on iTunes, SoundCloud or wherever you get your podcasts from.

 

Review us podcast on iTunes or tweet us @EBRD #Fearonomics

 

 You can rate, review and subscribe to Fearonomics on ITunes, Spotify and Soundcloud.

 

What's next?

Our EBRD First Vice-President Jurgen Rigterink is in conversation with Mohamed El-Erian, an Egyptian-American, born in New York, with wide experience as an academic, investor and advisor. He graduated in Economics from Queens College, Cambridge, and took his PhD at Oxford, before starting a hugely successful career which has taken him from the IMF to the investment firm PIMCO, where he became CEO and Co-CIO, and then into a portfolio of academic, public service and other roles. Foreign Policy magazine named him as a Top 100 Global Thinker four years in a row.

He is currently President of Queen’s College, and chief economic advisor at Allianz, the corporate parent of PIMCO.  He is a professor of practice at Wharton (University of Pennsylvania), a columnist at Bloomberg News, a Financial Times contributing editor, on the board of several non-profits and one corporate board, and has advised governments and industrial and financial companies.  He has served as chair of President Obama's Global Development Council and was President of Harvard Management Company.  You can find out more about him here.

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COP26, or the 2021 United Nations Climate Change Conference, will bring international stakeholders together to accelerate action towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change. It takes place next month in Glasgow. 

 

The stake are very high, as the climate emergency, highlighted in the IPCC report from earlier this year, requires urgent and decisive action from the world’s governments. 

 

The climate emergency cannot remain an abstract notion but must become a strong driver of macroeconomic policy if we are to avoid the “hell of earth,” the report concluded.

 

Our COP 26 special EconTalk gathered experts in the field to discuss climate action, the obstacles to achieving net-zero, and the social and economic implications of a Just Transition. 

 

Join Jonathan Charles, EBRD Managing Director for Communications, in conversation with:

Professor Mike Spence, a Nobel Laureate in Economic Sciences (2001). He is also a senior fellow at the Hoover Institution and the Philip H. Knight Professor Emeritus of Management in the Graduate School of Business at Stanford University.

Jean Pisani-Ferry, a non-resident senior fellow at the Peterson Institute for International Economics.  He holds the Tommaso Padoa-Schioppa Chair of the European University Institute in Florence and is a senior fellow at Bruegel.

Beata Javorcik, EBRD Chief Economist and Professor of Economics at the University of Oxford.

The discussion was opened by a special address from Odile Renaud-Basso, EBRD President.

 

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