Yemen has been experiencing political instability since 2011 and open conflict since late 2014. As a result, the social and institutional fabric in Yemen has witnessed increasing disintegration.
... See More + Although official statistics are no longer available, anecdotal evidence suggests that Yemen's GDP contracted by an accumulated 40 percent since the end of 2014. The conflict has caused widespread disruption of economic activities and has dramatically diminished employment and income opportunities in the private and public sector. In the current conflict situation and the given political uncertainty, it is not possible to provide a detailed, sound economic outlook. However, Yemen's medium-term outlook will depend ultimately on whether an end to the on-going conflict can be found and the rebuilding of the Yemen economy and social fabric is facilitated. In the short-term, there is no substitute for external financial support for initial macroeconomic stabilization given the interdependency of external financing, the fiscal expenditure program, and early stabilization. Finally, if violence can be contained before the end of 2018, GDP is predicted to begin its recovery in 2019 (i.e., via the gradual resumption of hydrocarbon export). However, little of the economic recovery is estimated to translate into a meaningful reduction of the high poverty rate in Yemen (approximately 80 percent in 2018).
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Micro and small enterprise (MSME) insolvency is particularly likely to impact not only the business, but also the personal and family life of the owner-operator(s) of such businesses, raising particular concerns that apply much less frequently in the context of corporate insolvency.
... See More + This report refines and expands on the earlier deliberations of the Insolvency and Creditor or Debtor Regimes Task Force (ICR Task Force) regarding the optimal approaches for treating MSME insolvency. As a matter of terminology, it should be stressed that the term MSME in this report is intended to cover both individual natural persons and juridical business entities, unless specifically stated.This means that the size of an MSME differs from country to country and even industry to industry, making comparisons between jurisdictions and global standard-setting difficult. The scope of this report is designed to be nonprescriptive and dynamic across countries and contexts. Accordingly, this report aims to consider rescue and restructuring for all viable MSMEs, with the objective of preserving individual entrepreneurial initiative, including in the context of liquidation, and of preserving businesses that can continue to operate and add value in an economy. The final section of the report starts the process of examining the ICR Principles in light of the proposals made in this report.
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We investigate the association between entrepreneurship support programs and the likelihood of receiving funding for early-stage firms. We use a novel database of 2,887 early-stage technology companies from nine local ecosystems in eight countries that includes data about the founders’ demographic characteristics, educational background, work experience, and entrepreneurial history; we also use data about the start-ups’ history and evolution that follow their progress through support programs and early-stage funding.
... See More + We isolate two support interventions—acceleration and mentorship—that the literature has found to have a larger effect on a firm’s performance, and we test if such effect is supported from an ecosystem perspective. After accounting for variations in founder characteristics and business environment, we find a positive association between acceleration and mentorship by experienced founders and the likelihood of receiving funding, whereas other support programs, such as incubation, are negatively correlated with funding. We also find that some founders’ characteristics, such as increased education and experience, have a positive correlation with funding.
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Malaysia’s remarkable transition from low-income to upper middle-income status has occurred in parallel to the microelectronics revolution. Most of Malaysia’s citizens are connected to the internet, and there is more than one mobile cellular subscription for each individual.
... See More + Malaysia needs to create a dynamic ecosystem for its digital economy that embodies changes to its infrastructure, regulations, skills, and public finance. This report examines three interrelated issues of digital connectivity, digital entrepreneurship, and taxation of digital platforms that are closely aligned with Malaysia’s goal of becoming the e-commerce hub of the region. Following an overview of the report in Chapter 1, Chapter 2 details digital adoption in Malaysia, with an emphasis on how businesses are using but failing to fully exploit digital technologies to communicate with customers, market goods, and meet other core business functions. Chapter 3 discusses the information and communications technology (ICT) infrastructure on which the digital economy is built, including persistent challenges related to the affordability and quality of fixed internet access that arise from high prices, market concentration, and an underperforming regulatory regime. Chapter 4 looks at the promise and challenges of digital entrepreneurship in Malaysia, highlighting the central role of government initiatives to date and what is required to fully empower the private sector. Chapter 5 explores options for taxing Malaysia’s digital economy, including the impact of recent reforms to international standards. Finally, Chapter 6 presents a summary of key policy recommendations. The report covers an important, but by no means exhaustive, set of issues that Malaysia will need to address in order to maximize the opportunities provided by the advent of digital technologies and should be seen as the starting point in these endeavors.
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Working Paper 129777 SEP 01, 2018
Record,Richard James Lowden; Larson,Bradley Robert; Teh Sharifuddin,Shakira Binti; Chong,Yew KeatDisclosed
