The world economics report

Read the full report Talent and technology together will determine how the Fourth Industrial Revolution can be harnessed to deliver sustainable economic growth and innumerable benefits to society. This urgency is at the core of a fresh call to action to accelerate progress towards gender equality, adding to the well-established economic case for gender equality. Moreover, there is a fundamental moral case for empowering women: Through the Global Gender Gap Report, the World Economic Forum quantifies the magnitude of gender-based disparities and tracks their progress over time.

The world economics report

The world economics report

Introduction Like prices of other commodities the price of crude oil experiences wide price swings in times of shortage or oversupply. We will discuss the impact of geopolitical events, supply demand and stocks as well as NYMEX trading and the economy.

In the absence of price controls, the U. See note in the box on right. With limited spare production capacity, OPEC abandoned its price band in and was powerless to stem a surge in oil prices, which was reminiscent of the late s. When discussing long-term price behavior this presents a problem since the U.

In order to present a consistent series and also reflect the difference between international prices and U. The Long Term View The very long-term view is similar.

Fifty percent of the time prices U. The very long-term data and the post World War II data suggest a "normal" price far below the current price.

However, the rise of OPEC, which replaced the Texas Railroad Commission as the monitor of spare production capacity, together with increased interest in oil futures as an asset class introduced changes that support prices far higher than the historical "norm.

In that case, U. If oil prices revert to the mean this period is a little more appropriate for today's analyst. It follows the peak in U. It is a period when the Seven Sisters were no longer able to dominate oil production and prices and an era of greater influence for OPEC oil producers.

As we will see in the detail below, influence over the price of oil is not equivalent to control. Not only was price of crude lower when adjusted for inflation, but in and the international producer suffered the additional effect of a weaker US dollar.

OPEC was established in with five founding members: Two of the representatives at the initial meetings previously studied the Texas Railroad Commission's method of controlling price through limitations on production.

World Economics

By the end ofsix other nations had joined the group: From the foundation of the Organization of Petroleum Exporting Countries throughmember countries experienced steady decline in the purchasing power of a barrel of oil. In Marchthe balance of power shifted.

That month the Texas Railroad Commission set proration at percent for the first time. This meant that Texas producers were no longer limited in the volume of oil that they could produce from their wells. Bythere was no spare production capacity in the U. A little more than two years later, OPEC through the unintended consequence of war obtained a glimpse of its power to influence prices.

It took over a decade from its formation for OPEC to realize the extent of its ability to influence the world market.The Global Competitiveness Report assesses the competitiveness landscape of economies, providing insight into the drivers of their productivity and prosperity.

At a glance

This year’s edition highlights that declining openness is threatening growth and prosperity. It also highlights that. With member countries, staff from more than countries, and offices in over locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries.

Charts can be generated by visiting the World Bank's DataBank website. Maldives, and Sri Lanka, which report in calendar year. The fiscal year runs from July 1 through June 30 in Bangladesh, Bhutan, and Pakistan, from July 16 through July 15 in Nepal, and April 1 through March 31 in India.

This book, the result of an international collaborative project, provides a new quantitative view of the wartime economic experiences of six great powers: the UK, . Nov 16,  · The World Economic Forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas.

US News Education provides rankings of over 1, best colleges and universities and hundreds of best graduate school programs. Learn how to pay for college and get advice on the admissions process.

Reports | World Economic Forum