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All countries in the former transition economies of Central, Eastern, and Southern Europe have undertaken public pension reforms of varying depth and orientation, often with the support of the World Bank. Although the reformed public pension schemes provide broad benefit adequacy, in most cases additional measures are needed to achieve fiscal sustainability in an aging society. 'Adequacy of Retirement Income after Pension Reforms in Central, Eastern, and Southern Europe: Eight Country Studies' assesses the benefit adequacy of the reformed pension systems for eight countries—Bulgaria, the Czech Republic, Croatia, Hungary, Poland, Romania, the Slovak Republic, and Slovenia—to identify policy gaps and options. The authors identify the motivations for reform against the backdrop of the trend toward multi-pillar arrangements, document key provisions, and compare them in the context of the World Bank's five-pillar paradigm for pension reform. They then evaluate the sustainability and adequacy of reformed pension systems and provide recommendations to address gaps and take advantage of opportunities for further reforms. The case studies and summary suggest the following broad policy conclusions: • Fiscal sustainability has improved in most study countries, but few are fully prepared for the inevitability of population aging. • The linkage between contributions and benefits has been strengthened, and pension system designs are better suited to market conditions • Levels of income replacement are generally adequate for all but some categories of workers (including those with intermittent formal sector employment or low lifetime wages), and addressing their needs requires initiatives that go beyond pension policy. • Further reforms should focus on extending labor force participation by the elderly to avoid benefit cuts that could undermine adequacy and very high contribution rates that could discourage formal sector employment. • More decisive financial market reforms are needed for funded provisions to deliver on the expectations of participants and keep funded pensions safe. This book will be of interest to policy makers, researchers, and everyone interested in the topic of pensions in the region, and beyond.

Nonfinancial Defined Contribution (NDC) schemes are now in their teens. The new pension concept was born in the early 1990s, implemented from the mid-1990s in Italy, Latvia, Poland and Sweden, legislated most recently in Norway and Egypt and serves as inspiration for other reform countries. This innovative unfunded individual account scheme created high hopes at a time when the world seemed to have been locked into a stalemate between piecemeal reforms of ailing traditional defined benefit schemes and introducing pre-funded financial account schemes.The experiences and conceptual issues of NDC in its childhood were reviewed in a prior anthology (Holzmann and Palmer, 2006). This new anthology published in 2 volumes serves to review its adolescence and with the aim of contributing to a successful adulthood. Volume 1 on Lessons, Issues, Implementation includes a detailed analysis of the experience and the key policy lessons in the old and new pilot countries and general thoughts around the implementation of NDCs in other countries, including Chile, Greece and China. Volume 2 on Gender, Politics, Financial Stability includes deeper and new analyses of these issues that found limited or no attention in the 2006 publication. The key policy conclusions include: (i) NDC schemes work well (as documented by the experience of Italy, Latvia, Poland and Sweden during the crisis) but there is room to make them work even better; (ii) Go for an immediate transition to the new scheme to avoid future problems; (iii) Identify the legacy costs and their explicit financing during the transition as they will hit you otherwise soon; (iv) Adopt an explicit stabilizing mechanism to guarantee solvency; (v) Establish a reserve fund to guarantee liquidity; (vi) Elaborate an explicit mechanism to share the systemic longevity risk; and, last but not least; (vii) Address the gender implications of NDC with deeper analysis and open political discourse.

Pension reform is a key policy challenge in Russia. This paper examines how pension spending could increase in Russia in the absence of reforms, quantifies the impact of some recent proposals, and suggests some alternatives that would ensure public pension benefits - relative to wages - not fall from current levels while containing spending.

The global textile and apparel sector is critically important as an early phase in industrialization for many developing countries and as a provider of employment opportunities to thousands of low-income workers, many of them women. The goal of this book is to explore how the lifting of the Multi-fibre Arrangement/ Agreement on Textiles and Clothing (MFA/ATC) quotas has affected nine countries Bangladesh, Cambodia, Honduras, India, Mexico, Morocco, Pakistan, Sri Lanka, and Vietnam with the broader aim of better understanding the links between globalization and poverty in the developing world. Analyzing how employment, wage premiums, and the structure of the apparel industry have changed after the MFA/ATC can generate important lessons for policy makers for economic development and poverty reduction. This book uses in-depth country case studies as the broad methodological approach. In-depth country studies are important because countries are idiosyncratic: differences in regulatory context, history, location, trade relationships, and policies shape both the apparel sector and how the apparel sector changed after the end of the MFA. In-depth country studies place broader empirical work in context and strengthen the conclusions. The countries in this book were chosen because they represent the diversity of global apparel production, including differences across regions, income levels, trade relationships, and policies. The countries occupy different places in the global value chain that now characterizes apparel production. Not surprisingly, the countries studied in this book represent the diversity of post-MFA experiences. This book highlights four key findings: The first is that employment and export patterns after the MFA/ATC did not necessarily match predictions. This book shows that only about a third of the variation in cross-country changes in exports is explained by wage differences. While wage differences explain some of the production shifts, domestic policies targeting the apparel sector, ownership type, and functional upgrading of the industry also played an important role. Second, changes in exports are usually, but not always, good indicators of what happens to wages and employment. While rising apparel exports correlated with rising wages and employment in the large Asian countries, rising exports coincided with falling employment in Sri Lanka. Third, this book identifies the specific ways that changes in the global apparel market affected worker earnings, thus helping to explain impacts on poverty. Fourth, in terms of policies, the countries that had larger increases in apparel exports were those that promoted apparel sector upgrading; those that did not promote upgrading had smaller increases or even falling exports.

This book examines recent changes in the landscape of retirement products and annuity markets in five countries. All the selected countries (Australia, Chile, Denmark, Sweden, and Switzerland) have mandatory or quasi-mandatory savings schemes. But they also exhibit significant differences in the structure of their pension systems, the relative importance of public pillars, the role and structure of private provision, the level of annuitization, and the structure and focus of their regulatory frameworks. Five studies have been commissioned to examine the state of annuity markets in each of these countries. The findings of these studies are summarized in the last five chapters of this book. The chapters of this book is discusses the various risks faced by pensioners and the risk characteristics of alternative retirement products, and it reviews the risks faced by providers of retirement products and the management and regulatory challenges of dealing with those risks. The chapter then discusses the risks faced by providers and reviews the challenges of various regulatory issues, ranging from the institutional organization of the market for retirement products to the regulation of marketing and pricing policies and the regulation of risk management. The chapter concludes with a brief summary of main points and conclusions.

The objective of the Nepal Investment Climate Assessment (ICA) is to evaluate the investment climate in Nepal in all its dimensions and promote policies to strengthen the private sector. The investment climate is made up of many dimensions that shape the opportunities for investments, employment creation, and growth of private firms. Such dimensions include factor markets, product markets, infrastructure services, and the macroeconomic, legal, regulatory, and institutional framework. The report's key finding is that while there are some niche sectors growing and expanding employment in Nepal (including tourism and certain educational and other services), there are many constraints to the investment climate in Nepal that are hindering the development and growth of the private sector. In particular, political instability, poor infrastructure, poor labor relations, poor access to finance, and declining exports plague Nepal's private sector. To overcome many of these issues and move forward, many reforms are needed. Given the extent of the challenge, effective public-private dialogue is required so that the government and the private sector can work in partnership to address these constraints. The pervasiveness and impact of political instability in Nepal makes the investment climate in the country comparable more to Afghanistan than other countries in the region or the comparator countries used in the analysis. While this comparison is unflattering, it is true. Political instability has stifled growth and limited Nepal's ability to exploit its hydropower and tourism potential. Interestingly, many firms do not perceive access to land and finance as major obstacles. This could be a reflection of lack of dynamism: Nepalese firms are simply not planning to invest, expand, and grow in their unstable and unpredictable environment. The peace dividend is not difficult to measure. As the surveys show, ending civil unrest alone would give back to enterprises 44 working days a year. The effects on economic activity, investment, growth, and job creation could be potentially huge.

Although average incomes in China have risen dramatically since the 1980s, concerns are increasing that the rural elderly have not benefited from growth to the same extent as younger people and the urban elderly. Concerns about welfare of the rural elderly combine spatial and demographic issues. Large gaps exist between conditions in coastal and interior regions and between conditions in urban and rural areas of the country. In addition to differences in income by geography, considerable differences exist across demographic groups in the level of coverage by safety nets, in the benefits received through the social welfare system, and in the risks of falling into poverty. This book aims to do two things: first, it provides detailed empirical analysis of the welfare and living conditions of the rural elderly since the early 1990s in the context of large-scale rural-to-urban migration, and second, it explores the evolution of the rural pension system in China over the past two decades and raises a number of issues on its current implementation and future directions. Although the two sections of the book are distinct in analytical terms, they are closely linked in policy terms: the first section demonstrates in several ways a rationale for greater public intervention in the welfare of the rural elderly, and the second documents the response of policy to date and options to consider for deepening the coverage and effects of the rural pension system over the longer term.

Children and young people with Autism Spectrum Disorder (ASD) have an increased risk of comorbidities, such as epilepsy and Attention-Deficit/Hyperactivity Disorder (ADHD). However, little is known about the relationship between early childhood epilepsy (below age 7) and later ADHD diagnosis (at age 7 or above) in ASD. In this historical cohort study, we examined this relationship using an innovative data source, which included linked data from routinely collected acute hospital paediatric records and childhood community and inpatient psychiatric records. In a large sample of children and young people with ASD (N = 3237), we conducted a longitudinal analysis to examine early childhood epilepsy as a risk factor for ADHD diagnosis while adjusting for potential confounders, including socio-demographic characteristics, intellectual disability, family history of epilepsy and associated physical conditions. We found that ASD children and young people diagnosed with early childhood epilepsy had nearly a twofold increase in risk of developing ADHD later in life, an association which persisted after adjusting for potential confounders (adjusted OR = 1.72, CI95% = 1.13–2.62). This study suggests that sensitive monitoring of ADHD symptoms in children with ASD who have a history of childhood epilepsy may be important to promote early detection and treatment. It also highlights how linked electronic health records can be used to examine potential risk factors over time for multimorbidity in neurodevelopmental conditions.

In summer 2018, an extraordinary heat wave with record-breaking high temperatures hit Northeast Asia. However, the contribution of atmospheric circulation to this heat wave remains unknown. In this study, we quantify the contribution of circulation by using the flow analogue method. It is found that Northeast China, Korea and Japan were the most affected areas by the heat event, from daily to monthly timescales. The persistent high temperature was associated with an anticyclonic anomaly over Northeast Asia, related to the record-breaking northward shift of the western Pacific subtropical high (WPSH). The persistent anomalous anticyclone played a dominant role in this heat event, explaining half of the magnitude of the heat event. Both thermodynamical change and dynamical change in recent decades have increased the probability of occurrence of this kind of heat event over Northeast Asia. Specifically, the change in dynamical flow explains a fraction of less than 20% of the increases in probability of heat events. The contribution of thermodynamical changes to heat events generally increases with the rarity of the extreme event.

In England, children and adolescents with depression can seek treatment from specialist mental health services. We know little about how they journey through these services, or whether healthcare providers collect sufficient data to accurately appraise this. We aimed to summarise the child and adolescent depression pathway for two healthcare providers. This cohort study used de-identified electronic health records extracted from Cambridgeshire and Peterborough NHS Foundation Trust (CPFT) and South London and Maudsley NHS Foundation Trust (SLaM). We identified referrals between 2015 and 2019 during which the referred patient received their first depression diagnosis aged < 18 years. We described patient demographic and clinical characteristics, and features of the referral. In total, n = 296 (CPFT) and n = 2502 (SLaM) patients had a referral which met eligibility criteria. In both sites, patients were more frequently female (CPFT 79.3%; SLaM 69.3%) and White ethnicity (CPFT 88.9%; SLaM 57.9%) as compared to respective population estimates for the Trusts’ catchment areas. Patients typically received their first depression diagnosis during adolescence (median ages 16 in CPFT and 15 in SLaM). The most common comorbidity was anxiety disorder. Referrals were usually routine, to community teams specialising in the child age group. Commonly mentioned interventions included antidepressant medication, cognitive behavioural therapy, and dialectical behaviour therapy. However, pathways varied within and between sites, and the quality and consistency of some data was poor. These findings provide an overview of service pathways experienced by children and adolescents with depression, but also highlight that pathways can vary according to individual need and healthcare provider. More systematic collection of some data, and standardisation in record systems used by different providers, would be beneficial.