إعلانات

NAVIGATING THE CHALLENGES OF UNCERTAINTY, CLIMATE CHANGE AND DEBT

The Regional Research Network (RRN) of Central Banks of the Middle East and North Africa (MENA) was launched in 2021 with the support of the World Bank’s Office of the Chief Economist of MENA. The RRN seeks to facilitate the diffusion of ideas, scholarly research in economics and promote evidence-based policy dialogue on the development challenges and opportunities faced by the MENA region. The RRN Annual Conference is organized by the Heads of research departments and/or Chief Economists of MENA Central Banks, together with the World Bank MENA Chief Economist Office.

The fourth edition of the conference will explore recent research on climate change and debt challenges. The Middle East and North Africa (MENA) region faces a confluence of pressing challenges and overlapping shocks. The region stands out as a global hotspot for climate shocks. These events, characterized by increased frequency and intensity in recent years, inflict a disproportionate economic burden on the region. The existing strain on water and land resources due to economic development, urbanization, and population growth is further exacerbated by climate shocks, shrinking the availability of these already scarce resources. These vulnerabilities are compounded in some countries by high levels of public and private debt accumulated over the past decade. Higher interest rates in the advanced economies and tighter financial conditions makes the situation worse and limits the ability to implement much-needed reforms to adapt to and mitigate against climate shocks. The ongoing global economic slowdown, exacerbated by ongoing conflicts in the region and geopolitical tensions, further complicates the picture. These successive shocks increase uncertainties on MENA economies and affect households and firms as result.

The Steering Committee of the 4^th RRN conference invites submissions of high-quality papers (with the potential for publication in peer-reviewed journals) that explore complex issues around the different sources of shocks across developing and developed countries and innovative solutions for policy makers in the MENA region to better navigate compounding shocks and build a more resilient and sustainable future. Relevant questions and topics include, but are not limited to, the following:

What are the transmission channels of climate change shocks to the economy? What are the macroeconomic costs of climate change shocks?

- What role can Central Banks play to mitigate climate change shocks? How to manage monetary policy under climate change threats?

- The EU Carbon Border Adjustment Mechanism: What does it mean for MENA and for the rest of the World?

- How to rethink debt sustainability in the face of evolving challenges?

- What is the impact of high interest rates on sovereign debt?

- How does uncertainty affect the behavior of firms and households and the macroeconomy?

- What is the expected economic impact of the energy transition, the net zero emissions policy and the role of central banks: Economic and inflationary consequences of energy transition and the net zero emissions policy and how Central Banks could mitigate them?

Empirical and theoretical contributions analyzing these and related topics are welcome. A focus on countries in MENA is welcome but not required, provided that the paper is relevant to the economic and policy debate in the MENA region.

The deadline for submissions is September 20, 2024 (before midnight Washington, DC time). Interested authors should send their papers to menarrn@worldbank.org. The e-mail should contain i) the name, title, and affiliated organization/institution of the main author and potential presenter, ii) the names of the co-authors, iii) an abstract of the paper and iv) the full paper as an attachment. Please use [Paper submission to the fourth RRN Conference] in the subject line. Authors of accepted papers will be notified by email on October 18, 2024.

The conference will be held in person in Kuwait City, Kuwait on January 29-30, 2025. Please note that only in-person presentation of the accepted papers will be accepted. Travel and accommodation costs for the presenter of each accepted contribution will be covered. Details on travel logistics and accommodation will be circulated after the notification of acceptance.

Questions or comments about the submission of papers should be addressed to menarrn@worldbank.org. For more information on the RRN, including recordings of previous editions of the conference, please visit the RRN website.