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  • Author: Hanna Norberg
  • Publication Date: 01-2019
  • Content Type: Policy Brief
  • Institution: Canadian Global Affairs Institute (CGAI)
  • Abstract: Blockchain technology is still in its infancy, but already it has begun to revolutionize global trade. Its lure is irresistible because of the simplicity with which it can replace the standard methods of documentation, smooth out logistics, increase transparency, speed up transactions, and ameliorate the planning and tracking of trade. Blockchain essentially provides the supply chain with an unalterable ledger of verified transactions, and thus enables trust every step of the way through the trade process. Every stakeholder involved in that process – from producer to warehouse worker to shipper to financial institution to recipient at the final destination – can trust that the information contained in that indelible ledger is accurate. Fraud will no longer be an issue, middlemen can be eliminated, shipments tracked, quality control maintained to highest standards and consumers can make decisions based on more than the price. Blockchain dramatically reduces the amount of paperwork involved, along with the myriad of agents typically involved in the process, all of this resulting in soaring efficiencies.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Cynthia Bansak, Nicole Simpson
  • Publication Date: 01-2019
  • Content Type: Policy Brief
  • Institution: Canadian Global Affairs Institute (CGAI)
  • Abstract: The federal government has pledged to update Canada’s official development assistance (ODA) policy and this paper examines the potential important role of remittances in the development program. Remittances can serve as a significant form of cross-border capital flows and can have sizable effects on both the sending and receiving countries. This policy piece provides an overview of trends in global remittances and gives a context for the policy discussion on the relationship between remittances and ODA. The paper discusses the primary reasons behind global remittances and their impacts on sending and receiving countries, with a particular emphasis on Canada, the United States and Mexico. Past findings provide insight into the reasons and impacts of remittances on both developed and developing countries. Within the context of Canada, the paper also examines how remittances have been able to complement and possibly drive other development reform efforts domestically and abroad. The goal of the analysis is to help inform the policy discussion in Canada and concludes with a set of policy recommendations for the Canadian federal government.
  • Topic: International Relations, International Affairs
  • Political Geography: Global Focus
  • Author: Tim Kerckhoff
  • Publication Date: 05-2019
  • Content Type: Policy Brief
  • Institution: Center for Economic and Social Development (CESD)
  • Abstract: The government of Azerbaijan has expressed ambitious plans to ramp up the share of electricity gen-erated from renewable and alternative energy. Currently, most electricity in Azerbaijan is produced from fossil fuels, including natural gas. Beyond being the source of almost all electricity produced in Azerbaijan, oil and gas exports form the backbone of the Azerbaijani economy–making it highly sus-ceptible to price volatility in the global markets. Between 2018 and 2020, however, the government aims to increase its capacity for generating electricity from wind, solar and biomass by 420 Mega-Wat
  • Topic: Energy Policy
  • Political Geography: Azerbaijan
  • Author: Orkhan Huseynov
  • Publication Date: 05-2019
  • Content Type: Policy Brief
  • Institution: Center for Economic and Social Development (CESD)
  • Abstract: The automotive industry is a major employment generator in many economies, with millions of people earning their livelihood, both directly and indirectly. According to the International Organization of Motor Vehicle Manufacturers (IOMVM), the current turnover of the automobile industry is around 2 trillion EURO and is equivalent to the size of 6th largest economy in the world. While there has been a growth momentum for the global automotive industry in the past, it is also facing challenges of late, especially in view of the increasing cost of production and slowing down of demand. The world automotive industry is also faced with the challenge of undertaking R&D and designing fuel-efficient vehicles in view of volatile oil prices. The environmental challenges have also assumed critical importance to the automotive industry at the backdrop of climatic change
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Rashad Hasanov
  • Publication Date: 01-2019
  • Content Type: Policy Brief
  • Institution: Center for Economic and Social Development (CESD)
  • Abstract: The existence of a well-functioning business environment is a key factor in the diversification of the economy, the efficient use of available resources and ensuring sustainable growth. The business environment, in its turn, should be regarded as a composite of conditions that incorporate quite complex components. If one or more of the composition components are not functioning appropriately, the result you will get is not adequate to the available capacity. The existence of contemporary institutions is the absolute requirement for a "good business environment", performing functions such as coordinating all other economic advantages, organizing appropriate arrangements, and risk management.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Publication Date: 03-2019
  • Content Type: Policy Brief
  • Institution: Center for Economic and Social Development (CESD)
  • Abstract: In January-February of 2019, activity in foreign exchange markets has further escalated. According to the information provided by the State Oil Fund of Azerbaijan (SOFAZ), during the corresponding period 951 million US dollars were sold, including 634.9 million in January and 316.2 million in February. This is 47.2% higher than the same period of the previous year.
  • Topic: International Relations, International Affairs
  • Political Geography: Global Focus
  • Author: Rashad Hasanov
  • Publication Date: 02-2019
  • Content Type: Policy Brief
  • Institution: Center for Economic and Social Development (CESD)
  • Abstract: Following the recession and stagnation of the economy of Azerbaijan in 2015-2017, a growth of 1.4% was recorded in 2018. Economic growth has been mainly driven by the following factors. Favorable foreign economic environment for Azerbaijan from the context of oil prices: the initial forecast of the oil prices by the Azerbaijani government at the beginning of 2018 was 45 US dollars per barrel. Then, during the second half of the year, the forecast was adjusted to 55 US dollars per barrel. However, the actual price of one barrel of oil for the reporting period was above 71 US dollars (29% higher than forecasted)…
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Dan Breban
  • Publication Date: 02-2019
  • Content Type: Policy Brief
  • Institution: Center for Economic and Social Development (CESD)
  • Abstract: The current external macroeconomic conditions observed throughout the year of 2018, such as increasing rates by FED/ECB, exerts certain pressure on the economies of developing nations. Despite hovering well-over its predicted value for most of the year, the recent decline in the price of oil once again puts question marks for the future of the commodity. Considering all of the above mentioned facts in mind, dependence of 2019 state budget of Azerbaijan on oil, where 50.4% of revenues directly come from the oil sector further makes the country more vulnerable to oil price fluctuations. The largest hike is observed in the amount of revenues collected through the excise taxes while the biggest decline is in income taxes, reflecting the new amendments to the tax code. Expenditures of the state budget are going to be 7.3% higher in 2019, with the most significant boost observed in construction sector. This fact undermines the efficiency of the public funds, as the expenditures towards construction are more likely to become subject of mismanagement. When looking at the SOFAZ’s budget, a clear trend of increasingly allocating more and more funds to the state budget can be seen. As expected, new amendments were made to the fiscal rule in order to make it more flexible, however, the effectiveness of these changes are still unclear.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Victoria Bittner
  • Publication Date: 02-2019
  • Content Type: Policy Brief
  • Institution: Center for Economic and Social Development (CESD)
  • Abstract: The establishment of the Eastern Partnership (EaP) policy as a part of the European Neighborhood Policy (ENP) sets new objectives for the deepening of cooperation between the EU and EaP countries, and the greater integration of the EaP based on shared norms, values and standards. Forming the eastern divide of the ENP, Armenia, Azerbaijan, Belarus, Ukraine, Moldova, and Georgia are considered official neighbors of the EU, although half of these countries (Armenia, Azerbaijan and Georgia) do not lie on the immediate borders of the EU. However, these South Caucasian countries play an important transit role by connecting the EU with Central Asia and China. Hence, the Baku-Tbilisi-Kars (BTK) railroad, crossing Azerbaijan, Georgia, and Turkey, establishes a significant link in the further development and integration of regional and global transit corridors stretching from China to Europe through Central Asia and the South Caucasus.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Seio Nakajima
  • Publication Date: 01-2019
  • Content Type: Policy Brief
  • Institution: Economic Research Institute for ASEAN and East Asia (ERIA)
  • Abstract: The aim of this paper is to describe the recent transformation of the automobile industry from a manufacturing industry to include aspects of the service and creative industries. Firstly, it reviews the recent trend of the automobile industry as a service industry. Secondly, it discusses the automobile industry’s move toward the creative industries. It examines these two trends, mostly based on the next-generation automobile industry in Japan. Finally, it discusses the implications of the above transformation of the automobile industry on academic studies of the creative industries, and argues for what it calls a strong programme in creative industries studies. It also provides a provisional note on government policies in the era of the next-generation automobile industry.
  • Topic: International Affairs
  • Political Geography: Global Focus