Regional and Country Reports of the ASEAN Assessment on the Social Impact of the Global Financial Crisis
The effects of the global economic slowdown on peoples' employment and earnings are at the core of its social impacts, manifested largely through increased job uncertainties and reduced worker earnings in crisis-affected sectors, as opposed to...
Main Authors: | , |
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Format: | Publication |
Language: | English en_US |
Published: |
Jakarta: ASEAN Secretariat
2014
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Subjects: | |
Online Access: | http://documents.worldbank.org/curated/en/2010/07/18699535/regional-country-reports-asean-assessment-social-impact-global-financial-crisis http://hdl.handle.net/10986/16689 |
Summary: | The effects of the global economic
slowdown on peoples' employment and earnings are at the
core of its social impacts, manifested largely through
increased job uncertainties and reduced worker earnings in
crisis-affected sectors, as opposed to widespread open
unemployment. The global economic slowdown has been
transmitted to ASEAN economies through several channels,
including decreased global demand for the member
states' manufactured exports; declines in key commodity
prices; lower levels of Foreign Direct Investment (FDI);
fewer tourist arrivals; and reduced remittance receipts from
overseas migrants. This has made policy makers keenly aware
of the need to not only understand better the social
consequences of economic volatility but also to strengthen
social protection and labor market policies. This assessment
of the social impact of the global financial crisis aims to
support ASEAN's mission to strengthen the foundations
for a region of lasting peace, security and stability,
sustained economic growth, shared prosperity and social
progress. The report provides a rapid assessment of the
social impacts of the crisis and offers a stocktaking of the
range of social protection measures adopted in ASEAN member
states in response to the crisis and in the context of the
pre-existing programs available. It also highlights a number
of areas which deserve policy makers' attention, such
as social impact monitoring, program monitoring and
evaluation, targeting and program coverage, as well as
institutional coordination. |
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