Economic Crisis and Child Well-being in the West and Central Africa Region

Economic Crisis and Child Well-being in the West and Central Africa Region

Published: 2021 Innocenti Research Report
The COVID-19 pandemic that swept over the world from early 2020 has triggered both health and economic shocks of unprecedented proportions in recent memory. Some estimates suggest that the consequences of these shocks will likely erase most of the progress made in global development over the past two decades. Many countries now risk falling further behind the attainment of national and international development goals, including the UN’s Sustainable Development Goals. Children are particularly vulnerable to the effects of these shocks due to their persistent higher levels of vulnerability, and the reality that school closures and other COVID-19 containment measures can be more damaging to children. 

This report examines the effect of previous economic crises on children’s well-being in UNICEF’s West and Central Africa Region (WCAR) and makes projections regarding the potential impacts of COVID-19-induced economic crises on priority indicators for the region. 
Supporting Families and Children Beyond COVID-19: Social protection in high-income countries

Supporting Families and Children Beyond COVID-19: Social protection in high-income countries

AUTHOR(S)
Dominic Richardson; Alessandro Carraro; Victor Cebotari; Anna Gromada

Published: 2020 Innocenti Research Report
COVID-19 constitutes the greatest crisis that high-income countries have seen in many generations. While many high-income countries experienced the global financial crisis of 2007–2008, or have had national recessions, the COVID-19 pandemic is much more than that. COVID-19 is a social and economic crisis, sparked by a protracted health crisis.

High-income countries have very limited experience of dealing with health crises, having their health and human services stretched beyond capacity, restricting the travel of their populations or having to close workplaces and schools – let alone experience of all of these things combined. These unique conditions create new and serious challenges for the economies and societies of all high-income countries. As these challenges evolve, children – as dependants – are among those at greatest risk of seeing their living standards fall and their personal well-being decline.

This new UNICEF Innocenti report explores how the social and economic impact of the pandemic is likely to affect children; the initial government responses to the crisis; and how future public policies could be optimized to better support children. 
Is it possible to adjust ‘with a human face’? Differences in fiscal consolidation strategies between Hungary and Iceland

Is it possible to adjust ‘with a human face’? Differences in fiscal consolidation strategies between Hungary and Iceland

AUTHOR(S)
Bruno Martorano

Published: 2014 Innocenti Working Papers
Before the recent economic crisis, Hungary and Iceland were considered to be two excellent models of development. Hungary and Iceland were among the countries affected earliest and most by the recent macroeconomic shock, suffering a similar drop in GDP.While the Hungarian government implemented a flat tax reform in order to stimulate economic activity, the Icelandic government replaced its flat tax system with a progressive one increasing the participation of high income groups in the adjustment process. The aim of this paper is to compare the opposite adjustment paths followed by Hungary and Iceland on selected outcomes.
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