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Begin New Search Topic Economics Content Type Policy Brief Publication Year within 25 Years

201. Restructuring Public Finances in Yemen

Publication Date:
10-2019
Content Type:
Policy Brief
Institution:
Sana'a Center For Strategic Studies
Abstract:
Even before the current conflict, Yemen’s public finances suffered from an overdependence on energy exports, one of the lowest tax collection rates in the world, and chronic budget and balance of payments deficits. The government’s consistent operating deficits were funded through domestic debt instruments – drawing investment away from the private sector – borrowing from its own central bank, and foreign loans. Meanwhile, current (or recurring) expenditures dominated government spending relative to capital investments, indicating the state’s poor track record in development initiatives.
Topic:
Development, Economics, Tax Systems, Exports, Economic Development, and Capital Controls
Political Geography:
Asia, Yemen, and West Asia

202. Inflated Beyond Fiscal Capacity: The Need to Reform the Public Sector Wage Bill

Publication Date:
09-2019
Content Type:
Policy Brief
Institution:
Sana'a Center For Strategic Studies
Abstract:
This policy brief addresses the issue of Yemen’s bloated public sector. Due to decades of corruption and patronage appointments, among other factors, public sector salaries were already a source of fiscal stress prior to the ongoing war. Previous efforts to downsize the public sector, notably those supported by the World Bank, produced few tangible results, as this brief outlines. During the conflict, the internationally recognized Yemeni government and the armed Houthi movement have added to the public sector payroll — particularly in the military and security apparatus — as the economy has contracted. Amid consistently large budget deficits, the inflated public sector wage bill is fiscally unsustainable and threatens to undermine economic recovery and future stability in Yemen.
Topic:
Economics, World Bank, Budget, Inflation, Public Sector, Fiscal Policy, and Economic Development
Political Geography:
Asia, Yemen, and West Asia

203. Priorities for Private Sector Recovery in Yemen: Reforming the Business and Investment Climate

Publication Date:
09-2019
Content Type:
Policy Brief
Institution:
Sana'a Center For Strategic Studies
Abstract:
The business and investment climate for private sector actors in Yemen has long been challenging. The current conflict has expanded and magnified these changes such that today Yemen is last or near last in a host of global business competitiveness indexes. Many businesses across the country have closed and moved their capital elsewhere, while many of those that remain open have had to make drastic cuts to their workforces. However, relative to the public sector – which has seen the near collapse of most government institutions – the private sector has shown a far greater degree of resilience. Businesses have stepped in to replace absent government services in many areas, allowing access to basic commodities and providing livelihoods for millions of Yemenis.
Topic:
Economics, Business, Economic Development, and Private Sector
Political Geography:
Asia, Yemen, and West Asia

204. Transitional Government in Post-Conflict Yemen

Author:
Rafat Al-Akhali, Osamah Al-Rawhani, and Anthony Biswell
Publication Date:
08-2019
Content Type:
Policy Brief
Institution:
Sana'a Center For Strategic Studies
Abstract:
This policy brief offers recommendations to maximize the effectiveness of governance in post-conflict Yemen – whatever the composition or structure of the government. It presents three case studies on government models previously introduced in Yemen, Tunisia and Lebanon after periods of instability. These case studies offer useful lessons on the challenges, risks and opportunities of forming transitional governments in post-conflict contexts.
Topic:
Conflict Resolution, Economics, Government, Peacekeeping, Transitional Justice, Conflict, Peace, and Transition
Political Geography:
Asia, Yemen, and West Asia

205. The Repercussions of War on Women in the Yemeni Workforce

Author:
Hannah Patchett and Dr. Fawziah Al-Ammar
Publication Date:
07-2019
Content Type:
Policy Brief
Institution:
Sana'a Center For Strategic Studies
Abstract:
This policy brief sheds light on how the ongoing conflict in Yemen has affected women’s participation in the workforce. It finds that the protracted conflict has, on the one hand, pushed more women into the workforce and new labor markets, in some cases into professions previously dominated by men. While some women have established new enterprises, often home-based businesses, others have engaged in poorly paid physical work in response to the economic crisis and the loss of male breadwinners. On the other hand, the war has imposed new constraints on an already low women’s participation rate. This policy brief recommends that micro-economic initiatives to bring women into the workforce must be accompanied by long-term efforts to address socio-economic structures that have historically constrained women’s access to the workforce. Interventions must be guided by local consultations with women and men from all demographics, and must promote work that is fairly paid and provides security and social protection. Quota systems could ensure that women play an active role in recovery and reconstruction efforts; women must also be engaged at all decision-making levels in peace building efforts and in post-conflict Yemen.
Topic:
Economics, Gender Issues, Women, Microeconomics, and Economic Development
Political Geography:
Asia, Yemen, and West Asia

206. Reconstruction and Recovery in Yemen: Recommendations from the Development Champions

Publication Date:
04-2019
Content Type:
Policy Brief
Institution:
Sana'a Center For Strategic Studies
Abstract:
Nearly five years of conflict in Yemen have created a humanitarian catastrophe that has brought the country to the brink of famine. The economy has collapsed and fighting has ravaged the country’s infrastructure. The reconstruction and recovery of Yemen will demand rebuilding the economy, restoring state institutions and infrastructure and repairing the social fabric. As yet, no official, donor-led, comprehensive reconstruction process is underway. The Development Champions emphasize that reconstruction and recovery efforts must begin immediately, even while the conflict is ongoing. Urgent humanitarian interventions should be linked to Yemen’s long-term economic recovery. The reconstruction of Yemen should aim to transform the country, and not only to restore the status quo ante. Yemenis and local institutions must be involved in this process from the planning stages to ensure legitimacy and local ownership; ultimately, local actors will be responsible for implementing these plans. With these factors in mind, the Development Champions held in-depth discussions to develop recommendations and guidelines to ensure the reconstruction and recovery of Yemen is a comprehensive, effective process that has a long-term positive impact. This policy paper presents those recommendations. They include measures to link immediate humanitarian interventions to Yemen’s long-term economic recovery; mechanisms to address fiscal challenges and enhance social protection; guidelines to create new jobs, rebuild infrastructure and strengthen the rule of law; and strategies to enhance local governance and local inclusion in the reconstruction process.
Topic:
Economics and Economic Development
Political Geography:
Asia, Yemen, and West Asia

207. Economic Confidence Building Measures – Civil Servant Salaries

Author:
Mansour Ali Al Bashiri
Publication Date:
03-2019
Content Type:
Policy Brief
Institution:
Sana'a Center For Strategic Studies
Abstract:
In December 2018, 23 of Yemen’s leading socioeconomic experts convened in Amman during the Fourth Development Champions Forum to discuss economic confidence-building measures in the peace process in Yemen. The discussions at the Forum, which is part of the Rethinking Yemen’s Economy initiative, touched on a number of economic mechanisms that could be implemented to build confidence. These included supporting the Central Bank as an independent institution that serves all of Yemen; ensuring the deposit of public revenues in all governorates at the Central Bank headquarters in Aden; and opening ports and ensuring the free movement of goods, humanitarian aid and people between governorates. The Forum focused on the payment of salaries and pensions to all civil servants due to the critical importance of the issue; this policy brief presents the outcomes of this discussion. As a key step to simultaneously address the humanitarian crisis in Yemen and build confidence between the parties engaged in the peace process, the Development Champions recommend that the Yemeni government resumes salary payments to all civil servants working in the administrative apparatus of the state registered in the Ministry of Civil Service database of 2014 across Yemen, prioritizing payments to education and health workers. The Yemeni government should also continue to provide liquidity to guarantee the payment of pensions to all public sector retirees. Meanwhile, Ansar Allah should allow all state revenues in areas under their control to be deposited into the accounts specified by the Central Bank of Yemen temporarily headquartered in Aden, and all parties should work toward the restoration of the Central Bank as a national institution that serves all of Yemen. The Development Champions call on regional and international donors to cover any funding gap to support the payment of salaries and pensions.
Topic:
Civil Society, Economics, Labor Issues, Income Inequality, and Economic Development
Political Geography:
Asia, Yemen, and West Asia

208. Priorities for Government Policy in Yemen

Publication Date:
02-2019
Content Type:
Policy Brief
Institution:
Sana'a Center For Strategic Studies
Abstract:
This policy brief outlines recommendations for the immediate priorities of the Government of Yemen, both to achieve quick wins and to prepare the ground for medium and long-term success. These recommendations are the outcomes of in-depth discussions held during the fourth Development Champions Forum convened on December 8-11, 2018, in Amman, Jordan. They are designed to offer Prime Minister Maeen Abdulmalik Saeed and his cabinet a set of practical measures to help the government build on the momentum and increased visibility it achieved in the final quarter of 2018. The immediate priorities recommended by the Development Champions include steps to support the stabilization of the local currency. an area in which tangible progress has already been made. The Champions also urge the government to regularize the payment of public sector salaries and pensions. Another immediate priority for the government should be to take steps to stabilize and transform Aden, the Champions suggest, based on the shared consensus that the southern coastal city could become a model for the rest of Yemen. The Champions emphasized that developing Aden would depend on improving the level of security across the governorate. While recognizing that the government faces immediate challenges that demand attention in Aden and across the country, the Development Champions urge the government to plan and implement procedures to prepare for the country’s medium and long-term future. These strategies should address the root causes of Yemen’s socio-economic instability, and not just its symptoms. Among the most important actions to prepare for long-term priorities is the expansion of the roles and responsibilities of local government authorities, the Champions concluded. During the conflict, decision-making authority has filtered down to the local level and become far more decentralized. The government should build on this new reality to reconfigure the state and its relationship with local government authorities.
Topic:
Economics, Government, Public Sector, and Economic Development
Political Geography:
Asia, Yemen, and West Asia

209. Resurgent Asia: Diversity in Development

Author:
Deepak Nayyar
Publication Date:
09-2019
Content Type:
Policy Brief
Institution:
United Nations University
Abstract:
In 1820, Asia accounted for two-thirds of world population and over half of world income. The subsequent decline of Asia was attributable to its integration with a world economy shaped by colonialism and driven by imperialism. By 1970, Asia was the poorest continent in the world, marginal except for its large population. Its demographic and social indicators, among the worst anywhere, epitomized its underdevelopment. A deep pessimism about Asia’s economic prospects, voiced by Gunnar Myrdal in Asian Drama, was widespread at the time.
Topic:
Economics, History, Economic Growth, and Economic Transformation
Political Geography:
Asia

210. Global Energy in Transition: How the EU Should Navigate New Realities and Risks

Author:
Andreas Goldthau
Publication Date:
11-2019
Content Type:
Policy Brief
Institution:
German Council on Foreign Relations (DGAP)
Abstract:
Global energy demand is shifting to Southeast Asia. This new trade flow is altering market power because it not only follows natural economic development, but also results from strategic trade and investment policies that promote national interests. In this context, the EU needs to account for the geo-economic side effects of the new European Green Deal.
Topic:
Climate Change, Economics, Energy Policy, European Union, Risk, and Trade
Political Geography:
Europe, Asia, and Southeast Asia

211. China’s Export Success: Due to Unfair Practices or Fair Competition?

Author:
Rolf Langhammer
Publication Date:
10-2019
Content Type:
Policy Brief
Institution:
Norwegian Institute of International Affairs
Abstract:
Compared with previous ratings, China’s trade policy today is more positively acknowledged. Yet, China can still be criticised in particular because of its non-transparent subsidy policy, the privileged role of state-owned enterprises, the heavy hand of the state in general, the sluggish enforcement of intellectual property rights, and the prevalence of non-tariff barriers. Yet, it cannot be ignored that Chinese entrepreneurship mentality is highly developed outside state interference in world markets. Especially, in the digital economy, high motivation and a large pool of human skills act as drivers of innovations, so far mainly process innovations. The trade war with the US hurts China and is responded by China with asymmetrical retaliation. The more Chinese exports to the US in total are affected, the more costs will have to be borne by US consumers as options to shift to alternative suppliers become weaker. What President Trump would see as a “good” deal for the US is unclear. It can be thus presumed that the trade war will continue into 2020 and that it is in fact a tech war. The EU is affected as EU companies produce in China for the US market and in the US for the Chinese market. While it might gain from trade diversion effects in the short run, the negative effects on investment due to uncertainty weigh more heavily. The EU is tempted to negotiate a free trade agreement with China but rightly refuses to start negotiations before China is prepared to conclude an agreement on investment. The EU should not see China and the US on equidistance. Workable relations with the US are much more important. To conclude, China’s trade policy has improved relative to Western standards but still warrants further steps towards much less state influence. Yet, its global competiveness especially in the state-of-the-art digital economy is high and is owed to a strong entrepreneurial mentality.
Topic:
Economics, European Union, Asia, Exports, Trade, and Strategic Competition
Political Geography:
China, Europe, Asia, and United States of America

212. State-owned Enterprises and the Trade Wars

Author:
Przemysław Kowalski
Publication Date:
11-2019
Content Type:
Policy Brief
Institution:
Norwegian Institute of International Affairs
Abstract:
Do state-owned enterprises (SOEs) and state capitalism create unfair competition in international markets? Empirical evidence surveyed in this brief suggests that from the turn of the century, state-owned enterprises (SOEs) indeed started competing increasingly with private firms, trading across borders and establishing themselves abroad through foreign direct investment. Some SOEs benefited from government-granted advantages unavailable to their private peers. International legal disputes involving SOEs have multiplied, and discussions of new trade and investment policy initiatives aiming to discipline SOEs have emerged. However, opinions differ as to what are the best policy approaches. The OECD Guidelines on SOEs would go a long way towards maintaining an international level playing field, but these are not mandatory and therefore unevenly implemented. WTO law gives countries freedom in managing their SOEs and focuses instead on disciplining government actions which may distort competition in international markets, irrespective of their ownership status. Some recent preferential trading agreements (PTAs) have included new SOE-specific disciplines that may influence future policy developments. On-going concerns about the allegedly unfair trade practices in emerging market economies with large state sectors, most notably China, are likely to strengthen the pressure for a closer scrutiny of SOEs and a development of new national and international disciplines. Improved transparency and disclosure are likely to be a common denominator of these new initiatives.
Topic:
Economics, Globalization, and Trade
Political Geography:
Asia

213. The Conflict Resource Economy and Pathways to Peace in Burma

Author:
Kevin M. Woods
Publication Date:
11-2018
Content Type:
Policy Brief
Institution:
United States Institute of Peace
Abstract:
Burma’s natural resource economy is inextricably tied to the ongoing armed conflict within the country. Questions of who has what ownership rights over what resources and how these resources can be more equitably shared with the wider population loom large. This report focuses on Burma’s resource-rich ethnic states and territories near the borders with China and Thailand and suggests that a more robust, accountable, and equitable system for managing the country’s resource wealth can help lay down the pathways to peace.
Topic:
Economics, Environment, Natural Resources, Conflict, and Peace
Political Geography:
China, Burma, Thailand, and Southeast Asia

214. Is Poverty a binding constraint on Agricultural Growth in Rural Malawi?

Author:
Mirriam Muhome-Matita and Ephraim Wadonda Chirwa
Publication Date:
07-2018
Content Type:
Policy Brief
Institution:
African Economic Research Consortium (AERC)
Abstract:
Agriculture remains the most important sector in sub-Saharan Africa and is a dominant form of livelihood for a majority of the population that resides in the rural areas. In Malawi, agriculture accounts for 35 percent of GDP and generates more than 80 percent of foreign exchange. In addition, agriculture is the most important occupation for 71 percent of the rural population in which crop production accounts for 74 percent of all rural incomes. However, agriculture has failed to get Africa out of poverty, and most countries are experiencing low agricultural growth, rapid population growth, weak foreign exchange earnings and high transaction costs (World Bank, 2008).
Topic:
Agriculture, Economics, Political Economy, Poverty, World Bank, Economic Growth, and Rural
Political Geography:
Africa and Malawi

215. Using wage boards to raise pay

Author:
Arindrajit Dube
Publication Date:
12-2018
Content Type:
Policy Brief
Institution:
Economics for Inclusive Prosperity (EfIP)
Abstract:
During the past 40 years, the United States has experienced a sharp and sustained rise in wage and income inequality. The high level of inequality in the United States reflects both a disconnect between (1) average wages and productivity, and (2) top and bottom wages.
Topic:
Economics, Labor Issues, Income Inequality, Labor Policies, Wage Subsidies, Economic Policy, and Economic Theory
Political Geography:
United States

216. Towards a More Inclusive Globalization: An Anti-Social Dumping Scheme

Author:
Dani Rodrik
Publication Date:
12-2018
Content Type:
Policy Brief
Institution:
Economics for Inclusive Prosperity (EfIP)
Abstract:
Theory and empirics both suggest that international trade has sharp distributional implications. Furthermore, redistribution caused by trade is often viewed by the general public as more harmful or disruptive than other domestic market shocks. I discuss conditions under which there may be a legitimate case for restricting trade to promote domestic social inclusion, and propose a specific policy – a social safeguards clause – targeting those circumstances.
Topic:
Economics, Globalization, International Trade and Finance, Economic Policy, Economic Theory, and Trade Liberalization
Political Geography:
Global Focus

217. Taxing multinational corporations in the 21st century

Author:
Gabriel Zucman
Publication Date:
09-2018
Content Type:
Policy Brief
Institution:
Economics for Inclusive Prosperity (EfIP)
Abstract:
Globalization and the rise of intangible capital have increased tax avoidance opportunities for large firms dramatically. 40% of multinational profits are shifted to tax havens each year globally and the United States loses about 15% of its corporate income tax revenue because of this shifting. I discuss the evidence on the redistributive effects of international tax competition. I then present a proposal to reform the corporate tax that would remove any incentive for firms to shift profits or move real activity to lowtax places. Contrary to a widespread view, it is possible to tax multinational companies (potentially at high rates) in a globalized world, even in the absence of international policy coordination.
Topic:
Economics, Globalization, Regulation, Multinational Corporations, Tax Systems, Economic Policy, and Economic Theory
Political Geography:
Global Focus

218. Egypt after the presidential election

Author:
James Moran
Publication Date:
05-2018
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
As you leave central Cairo heading west on the Giza highway, there is a billboard, strategically placed for all to see with a picture of a rather stern-looking President Abdel Fatah Al-Sisi below the slogan, “Fighting terrorism is a human right”. It sums up the authorities’ nervy reaction to anyone, especially foreigners – the slogan is in English – who criticise the current political climate for being overly oppressive and counterproductive. As he begins his second term, Sisi can claim some success in restoring security in the country, at least outside of the long-running conflict in Northern Sinai and Egypt’s ‘wild west’ which is affected sporadically by the conflict across the border in Libya. Terrorist attacks in the Nile Valley and Delta, home to the vast majority of Egypt’s nearly 100 million people, have been curbed significantly over the past two years, and the cities certainly feel safer. Most Egyptians are grateful for those improvements, and Sisi’s popularity, while down from the heights of a few years ago, remains strong. That said, many Egyptians may no longer be ready to give him the sort of unqualified support he has enjoyed in the past: the election result gave some indication of this ambivalence, with a lower turnout (just over 40%) than in 2014 and a much higher number of spoiled ballots. And this in a situation in which there was no credible competition. Indeed, the authorities’ overzealous efforts to block candidates who might have lent greater legitimacy to the vote, as well as the threat of fines for those who did not vote appear to have backfired. Heads may yet roll for these errors in judgement.
Topic:
Economics, European Union, Domestic Politics, Presidential Elections, and Abdel Fattah el-Sisi
Political Geography:
North Africa and Egypt

219. The State of the National System of Innovation in Swaziland

Author:
Eswatini Economic Policy Analysis and Research Centre
Publication Date:
03-2018
Content Type:
Policy Brief
Institution:
Eswatini Economic Policy Analysis and Research Centre (ESEPARC)
Abstract:
Swaziland, in the National Development Strategy (NDS), aspires to achieve development through investments in science, technology, and innovation (STI). However, using innovation to uplift the country from poverty and tackle economic growth requires investment in research and experimental development (R&D), human capital development, and the establishment of relevant institutions and governing bodies to direct scientific and technological development which are currently missing. Due to low investments in innovation and R&D, the lack of funding sources, absence of a national STI strategy and R&D agenda, and low collaboration between institutions, the country is struggling to propel STI-driven development. As a result, Swaziland is largely a consumption-based economy, with high imports and low exports, and the domestic industry is underdeveloped. The implication is that as economies grow and become more competitive, Swaziland will continue to remain behind. Hence, to use STI to drive social and economic development the country needs to affirm this concession by developing a national STI strategy. Establishing a Ministry of Science, Technology, and Innovation would enhance the coordination of STI activities and manage the funding and implementation of STI policies.
Topic:
Development, Economics, Science and Technology, and Innovation
Political Geography:
Europe and Switzerland

220. Corruption in Yemen’s War Economy

Publication Date:
11-2018
Content Type:
Policy Brief
Institution:
Sana'a Center For Strategic Studies
Abstract:
Corruption, or the abuse of power for private gain, has been deeply entrenched in the Yemeni political economy for decades. Over the course of the ongoing conflict, however, as the war has fragmented and regionalized the country, state capture in Yemen has become far more complex. In the war economy, patronage networks are now emerging among previously marginal or unknown figures. The financial involvement of Saudi Arabia and the United Arab Emirates has extended patronage across national borders. Alleged collusion between Houthi-affiliated importers and officials allied with the internationally recognized Yemeni government indicates patronage networks that potentially cross the frontlines of the war themselves. As greater numbers and a wider variety of actors profit from illicit activity in the war economy, vested economic interests in continued conflict become more entrenched. If state capture is among the main drivers of Yemen’s war economy, then post-conflict recovery must include a strong anti-corruption agenda. Policymakers must begin planning to address corruption as a part of a potential post-conflict strategy. Given the multi-faceted pervasiveness of corruption in Yemen, any anti-corruption agenda must aim to understand the complex configuration of patronage networks in Yemen, to be introduced gradually, and to get the buy-in of as wide a group of Yemenis as possible. Without these basic building blocks, more specific policy changes such as encouraging transparency or reducing conflicts of interest may founder. Corruption has become deeply entrenched in Yemen; any post-conflict anti-corruption agenda must be great in scope and long-term in vision.
Topic:
Corruption, Economics, Government, War, and Economic Development
Political Geography:
Asia, Yemen, and West Asia

221. BRICS Plus: An innovative model for cooperation

Author:
Su Qingyi
Publication Date:
07-2018
Content Type:
Policy Brief
Abstract:
It has been ten years since the BRICS mechanism was established. During this process, BRICS has undergone two significant improvements. The first is the accession of South Africa in 2011, and the second is promoting the formation of BRICS Plus in 2017. This reveals that BRICS cooperation is a continuous development mechanism. BRICS Plus is the perfection and innovation of the current system. The main body comprises the countries – Brazil, Russia, India, China and South Africa. This is conducive to ensuring the stability and efficiency of the organization’s cooperation. However, the cooperation is an open and inclusive platform.
Topic:
Economics, International Cooperation, Trade, and BRICS
Political Geography:
China, India, and South Africa

222. Inequality in India on the rise

Author:
Hai-Anh Dang and Peter Lanjouw
Publication Date:
12-2018
Content Type:
Policy Brief
Institution:
United Nations University
Abstract:
Following the introduction of economic reforms in the early 1990s, India today is achieving unprecedented per capita growth rates. Poverty reduction has also accelerated and is justly celebrated. There is great concern, however, that this growth is being accompanied by rising inequality.
Topic:
Economics, Reform, Inequality, and Economic Growth
Political Geography:
India and South America

223. Inequality dynamics in China: Income growth for the poor, but more for the rich

Author:
Shi Li and Terry Sicular
Publication Date:
12-2018
Content Type:
Policy Brief
Institution:
United Nations University
Abstract:
In the late 1970s, China embarked on a major programme of economic transition and reform. Since then, China’s economy has been transformed from a socialist planned economy to a predominately market economy characterized by a combination of state, private, and mixed forms of ownership. Over the past forty years, household incomes have risen six-fold, poverty has declined dramatically, and in recent years a new class of ultra-rich has emerged. These developments have naturally led to questions about inequality trends in China.
Topic:
Economics, Poverty, Reform, Income Inequality, and Welfare
Political Geography:
China and Asia

224. Tax Incentives in the Global South

Author:
Megan Baddeley, Matti Kohonen, Ewan Livingston, and Radhika Sarin
Publication Date:
05-2018
Content Type:
Policy Brief
Institution:
Oxfam Publishing
Abstract:
This joint briefing from Oxfam, Christian Aid, ActionAid and the CBI reflects a growing convergence between businesses and tax advocacy groups on the use of tax incentives in the Global South. It argues that tax incentives can be a useful tool in promoting decent jobs and growth. But it also contends that too often tax incentives are used in inefficient and ineffective ways, and in the worst cases are entirely redundant. We hope that its message will be heard by policy makers around the world, and that it will contribute to better policy making that encourages responsible investment. Promoting domestic resource mobilization should mean that governments have more money to invest in essential public services to tackle poverty.
Topic:
Economics, Tax Systems, Fiscal Policy, and Private Sector
Political Geography:
Global South

225. Slowly growing or stunted? How Delivery of Electoral, Political, and Economic Goods Impacts Support for Democracy in Uganda

Author:
Francis Kibirige
Publication Date:
01-2018
Content Type:
Policy Brief
Institution:
Afrobarometer
Abstract:
After nearly a decade of growth, popular demand for democracy in Africa has shown signs of weakening (Mattes & Bratton, 2016; Lührmann et al., 2017; Cheeseman, 2017)). In Uganda, recent Afrobarometer survey data show that although citizens’ preference for democracy consistently outstrips their perception of how much democracy they’re actually getting, satisfaction with the way their democracy works is on a decade-long slide. In survey responses, Ugandans’ preference for democracy fluctuates around election years, increasing before and decreasing after general elections. At the same time, the disparity between popular preference for and satisfaction with democracy, defined in this paper as the “democracy satisfaction gap,” is growing, from 5 percentage points in 2000 to 34 percentage points in 2017. These patterns pose a number of questions, including what causes popular preference for democracy to fluctuate around election years and whether indeed Ugandans understand and appreciate democracy. Survey data suggest that Ugandans have grown in their knowledge of democracy with the passage of time (Mattes, Kibirige, & Sentamu, 2010). Similarly, the proportion of Ugandans who are “committed democrats” – meaning they prefer democracy over any other form of government and consistently reject authoritarian rule – has increased sharply, although women, less educated citizens, and rural residents lag behind in this group. Our analysis suggests that a preference for democracy is stronger among citizens who perceive the quality of Uganda’s elections as poor, those who are dissatisfied with the government’s delivery of political or economic goods, those who believe strongly in democratic values, and those who are more cognitively engaged in civic and political life.
Topic:
Civil Society, Economics, Governance, Elections, and Democracy
Political Geography:
Uganda and Africa

226. National Minorities and Socioeconomic Equality: Still Work in Progress

Author:
Andreea Carstocea
Publication Date:
12-2018
Content Type:
Policy Brief
Institution:
European Centre for Minority Issues
Abstract:
National minorities often find themselves at a socio-economic disadvantage, whether in their access to employment, adequate housing, social services or healthcare. The Council of Europe Framework Convention for the Protection of National Minorities, the main legal instrument safeguarding the rights of national minorities, includes the right to equality before the law and of equal protection by the law, and the right to effective participation in social and economic life. This Issue brief will focus on the monitoring process of this legal instrument, analysing the extent to which the right to socioeconomic participation is monitored by the Advisory Committee of the Framework Convention for the Protection of National Minorities. The conclusion of the Issue brief will point towards a rather inconsistent and unstructured approach towards the monitoring of this topic and will argue that the socio-economic objectives already developed under the Framework Convention should be followed through in the monitoring of the socio-economic situation of all national minorities, alongside renewed requests for improved data collection by governments.
Topic:
Economics, Government, Nationalism, Minorities, Ethnicity, Socioeconomics, and Protected People
Political Geography:
Global Focus

227. ASEAN as an FDI Attractor: How Do Multinationals Look at ASEAN?

Author:
Masahito Ambashi
Publication Date:
01-2017
Content Type:
Policy Brief
Institution:
Economic Research Institute for ASEAN and East Asia (ERIA)
Abstract:
This policy brief presents an overview of the ASEAN economy in terms of its economic relationship with multinationals, particularly Japanese companies, that have long invested in this region. ASEAN has been an attractor of foreign direct investment (FDI). Business interest in ASEAN has increased again recently due to the (i) relatively low wage of ASEAN compared to China, (ii) establishment of the ASEAN Economic Community (AEC), (iii) economic partnership network with a core of ASEAN countries, (iv) large-scale market covered by ASEAN, and (v) rise of CLMV countries (Cambodia, Lao PDR, Myanmar, and Viet Nam). In these trends, ASEAN has established a reciprocal economic relationship with other countries and regions. To develop its economy, ASEAN member states are expected to further advance the AEC at a high level. Hence, ASEAN must address challenges such as deepening further economic integration and narrowing development gaps in the region. Most importantly, ASEAN still needs to increase the attractiveness of its 'whole region' as an essential and integral part of global value chains to draw further FDI.
Topic:
Economics, International Political Economy, International Trade and Finance, and Global Political Economy
Political Geography:
Japan and Southeast Asia

228. Making the best of Brexit for the EU27 financial system

Author:
Andre Sapir, Dirk Schoenmaker, and Nicolas Veron
Publication Date:
02-2017
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
The United Kingdom’s exit from the European Union creates an opportunity for the remaining EU27 to accelerate the development of its financial markets and to increase its resilience against shocks. Equally, Brexit involves risks for market integrity and stability, because the EU including the UK has been crucially dependent on the Bank of England and the UK Financial Conduct Authority for oversight of its wholesale markets. Without the UK, the EU27 must swiftly upgrade its capacity to ensure market integrity and financial stability. Furthermore, losing even partial access to the efficient London financial centre could entail a loss of efficiency for the EU27 economy, especially if financial developments inside the EU27 remain limited and uneven.
Topic:
Economics, International Political Economy, International Trade and Finance, Political stability, and Brexit
Political Geography:
Britain and Europe

229. Why is it so hard to reach the EU’s ‘poverty’ target?

Author:
Zsolt Darvus
Publication Date:
01-2017
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
The ‘poverty’ target set by the European Commission aims to lift “over 20 million people out of poverty” between 2008 and 2020 in the EU27. Progress to date against this target has been disappointing. Why is it so hard to reach the Europe 2020 ‘poverty’ target? What does the poverty indicator actually measure?
Topic:
Economics, International Political Economy, International Trade and Finance, and Poverty
Political Geography:
Europe

230. Why northern Ghana lags behind in Ghana’s growth and poverty reduction success

Author:
John Baptist D. Jatoe, Ramatu Al-Hassan, and Bamidele Adekunle
Publication Date:
12-2017
Content Type:
Policy Brief
Institution:
African Economic Research Consortium (AERC)
Abstract:
Ghana’s post adjustment growth and poverty reduction performance has been hailed as impressive, albeit with spatial disparities in the distribution of welfare, especially between the north and south of the country. Researchers generally agree that economic growth does not always reduce poverty. Indeed, the effectiveness of growth in reducing poverty depends on the level of inequality in the population. Growth that increases inequality may not reduce poverty; growth that does not change inequality (distribution-neutral growth) and growth that reduces inequality (pro-poor growth) result in poverty reduction. Policy makers can promote pro-poor growth by empowering the poor to participate in growth directly. Policy makers can focus on interventions that improve productivity in smallholder agriculture, particularly export crops, increasing employment of semi-skilled or unskilled labour, promoting technology adoption, increasing access to production assets, as well as effective participation in input and product markets. Also, increasing public spending on social services and infrastructure made possible by redistribution of the benefits of growth benefits the poor, indirectly.
Topic:
Agriculture, Economics, Poverty, Labor Issues, Economic Growth, Labor Policies, Economic Policy, and Macroeconomics
Political Geography:
Africa and Ghana

231. The Big Melt: Curbing Arctic Climate Change Aligns with U.S. Economic and National Security Goals

Author:
Cathleen Kelly and Howard Marano
Publication Date:
05-2017
Content Type:
Policy Brief
Institution:
Center for American Progress - CAP
Abstract:
The United States has long been a leader in advancing diplomatic cooperation, peace, stability, and environmental stewardship in the Arctic—from the purchase of Alaska from Russia in 1867, to the creation of the Arctic Council in 1996, and the beginning of the U.S. chairmanship of the Arctic Council in 2015.1 A new scientific assessment of rapid changes in the Arctic reveals that U.S. economic prosperity and national security may well hinge on continued U.S. leadership and cooperation in the region. The Arctic assessment by the Arctic Monitoring and Assessment Program, or AMAP, concludes with even higher confidence than in the past that rapid and persistent Arctic climate change is transforming the region with global economic, security, and environmental repercussions that will be more serious than previously predicted.2 The more than 90 authors of the “Snow, Water, Ice, Permafrost in the Arctic,” or SWIPA2, report concluded that Arctic warming will drive global sea levels to rise faster and higher than earlier estimates and that the region will see ice-free summers sooner than expected.3 The AMAP report also concludes that the global costs of Arctic climate change—including damages to infrastructure, homes, communities, and businesses from global sea level rise and more extreme weather—will be astronomical, reaching $7 trillion to $90 trillion between 2010 and 2100.4 Arctic warming will also have significant U.S. national security consequences, including flooding of U.S. coastal communities and military bases; increased instability in vulnerable regions; and strained U.S. humanitarian and disaster response resources.5 So far, the Trump administration’s Arctic policy has ignored these rapidly unfolding threats and focused entirely on easing offshore oil and gas drilling in the region, despite extreme risks. 6 This includes rescinding Obama administration accomplishments such as marine protected areas established to prevent oil spills in areas critical for subsistence hunting and fishing; terminating a new formal consultation mechanism with coastal Alaska Native tribes along the Bering Sea; and ordering Secretary of the Interior Ryan Zinke to review several drilling safety standards for potential cancellation.7 Meanwhile, perennially perilous conditions in the Arctic Ocean—including drifting sea ice, hurricane force winds, and extended periods of darkness—and a lack of emergency response infrastructure would mean any oil spill would be extremely difficult, if not impossible, to respond to and clean up.8 Secretary of State Rex Tillerson has an opportunity to reaffirm the United States’ long-standing commitment to safeguarding the Arctic when he chairs the May 11 Arctic Council Ministerial Meeting in Fairbanks, Alaska. This meeting is the 10th gathering of foreign ministers and indigenous leaders from the eight Arctic nations: Canada, Norway, Russia, the United States, Finland, Iceland, Sweden, and the Kingdom of Denmark, via its dominion over Greenland and the Faroe Islands. These countries make up the Arctic Council, the international body designed to address emerging challenges in the region.9 With costly and rapid Arctic climate change already underway, strong diplomatic partnerships are more essential than ever to prepare for warming effects and avert the most costly and dangerous repercussions down the road.10 At the May ministerial—which marks the end of the two-year U.S. Arctic Council Chairmanship—Secretary Tillerson is expected to reach a binding agreement with Arctic nations; Arctic Council observer countries; and indigenous leaders to strengthen international science cooperation in order to deepen the world’s understanding of rapid Arctic warming and its consequences.11 Past binding agreements adopted by the council secured commitments to strengthen oil spill response as well as search and rescue in the region.12 The eight countries are also expected to agree to meet a regional target to reduce black carbon pollution—a potent driver of Arctic warming. By locking in these agreements and working with other nations to curb global climate change, Secretary Tillerson can strengthen diplomatic ties with key allies while advancing U.S. economic, security, and environmental interests at home and at the top of the world.
Topic:
Security, Climate Change, Economics, Environment, and Strategic Interests
Political Geography:
North America, Arctic, and United States of America

232. Development assistance for peacebuilding

Author:
Rachel M. Gisselquist
Publication Date:
02-2017
Content Type:
Policy Brief
Institution:
United Nations University
Abstract:
Development assistance to fragile states and conflict-affected areas is a core component of peacebuilding. It includes support for the restoration of core government functions, delivery of basic services, the rule of law, and economic revitalization. Yet, while aid has been among the largest financial inflows to fragile states in recent years, its impact has been mixed. Better understanding of what works and why thus remains a core challenge for development researchers and practitioners.
Topic:
Development, Economics, Foreign Aid, Conflict, and Peace
Political Geography:
Global Focus

233. The Economic Impact of Gatwick Airport

Author:
Pete Collings and Osman Ismail
Publication Date:
01-2017
Content Type:
Policy Brief
Institution:
Oxford Economics
Abstract:
Oxford Economics were appointed by the Gatwick Growth Board (GGB) to provide an independent assessment of Gatwick Airport's local, regional and national impact. The GGB was established in 2016 to examine the economic and social consequences of Gatwick Airport’s future plans for growth and expansion. The resulting study represents the most detailed assessment to date of Gatwick's economic footprint, and will provide evidence for the GGB's strategic work over the coming year. It finds that Gatwick Airport’s operations and services deliver very significant economic benefits for the UK, with its national GDP contribution reaching £5.3 billion in 2016, equivalent to 0.3% of the UK's total. Some 43 million passenger journeys passed through Gatwick during that year, underlining its position as a key component of national infrastructure. In addition, the report measures the Airport's wider impact, beyond its direct transport benefits to passengers and airlines. At the centre of a complex network of supply chains, Gatwick Airport enables activity throughout the Gatwick Diamond area, and beyond. The salaries sustained by employment at the Gatwick site also provide an invaluable contribution to the local consumer economy. The study also explores the potential for the Airport to deliver an even greater economic contribution in future.
Topic:
Economics, Tourism, Transportation, and Airline Companies
Political Geography:
United Kingdom and Europe

234. Afghanistan Stabilization Program: A Summary of Research and Key Outcome Trends

Author:
Radha Iyengar and Jacob N. Shapiro
Publication Date:
04-2017
Content Type:
Policy Brief
Institution:
Empirical Studies of Conflict Project (ESOC)
Abstract:
To provide evidence about which programs best foster stability in fragile and conflict-affected areas we systematically review the relationship between stabilization programming and a broad range of outcomes in Afghanistan. Following a pre-analysis plan, we reviewed 89 existing studies from government, policy think tanks, and academic journals from over 15 years and statistically analyzed data from a range of sources from 2009 to 2015. While we compile a relatively comprehensive set of data, our analysis is based on a subset of stabilization programming the lack of a central repository of reliable data on program spending limited the analysis—because data were kept in disparate locations and never consolidated our quantitative analysis. Overall, we find that some stabilization programming is correlated with small, short-term improvements in support for the Afghan government, perceived access to health care, and economic activity despite the fact that these programs typically targeted more violent areas. We note that the size of this effect was small relative to the overall trends in key security, economic, and attitudinal outcomes over the same period and does not necessarily indicate a direct causal impact of these programs. This positive correlation was primarily observed for relatively low dollar programs (which in some cases were conducted over large parts of a region or country). Qualitative evidence suggests this may be because these smaller programs are easier to administer and less susceptible to corruption. These effects were not sustained beyond one year, suggesting limited scope for long-term or sustainable changes. The lessons our analysis suggest that modest programs with bounded expectations on the size and duration of impact must be included in considerations of future stabilization efforts. We also recommend that future programs collect higher quality data, coordinate their evaluation efforts among donors, plan ahead by building in reporting requirements, and make effective use of new technologies to be facilitated programming that is more adaptive to the conditions on the ground. As these best practices are incorporated, policymakers and implementers can enable better design and implementation of stabilization projects in conflict-affected areas in the future.
Topic:
Conflict Resolution, Economics, International Security, War on Terror, Strategic Stability, and Economic Stability
Political Geography:
Afghanistan

235. Implications of Mega Free Trade Agreements for Asian Regional Integration and RCEP Negotiation

Author:
Fukunari Kimura and Lurong Chen
Publication Date:
03-2016
Content Type:
Policy Brief
Institution:
Economic Research Institute for ASEAN and East Asia (ERIA)
Abstract:
As mega free trade agreements (FTAs) are reshaping the rules of global governance, there is urgency for member states of the Association of Southeast Asian Nations (ASEAN) to take proper actions in response to the changing world economic order. On one hand, they should closely observe the progress of negotiations and follow up the issues that are under discussion in mega FTAs. On the other hand, they have to accelerate the pace in concluding the negotiations of the Regional Comprehensive Economic Partnership (RCEP).
Topic:
Economics, International Trade and Finance, and Global Political Economy
Political Geography:
Southeast Asia and Global Focus

236. Power Grid Interconnections in East Asia: Investment in Several Key Projects Are Well Justified

Author:
Yanfei Li
Publication Date:
01-2016
Content Type:
Policy Brief
Institution:
Economic Research Institute for ASEAN and East Asia (ERIA)
Abstract:
The recent ERIA report on 'Effective Power Infrastructure Investment through Power Grid Interconnections in East Asia' aims to support existing initiatives--the ASEAN Power Grid and Greater Mekong Subregion Power Master Plan--by quantitatively showing the possible economic and environmental benefits of such power grid interconnections. The study team selected specific candidate routes of cross-border transmission lines for further examination. They carried out the preliminary project planning and per kilowatt-hour cost estimation for the selected cross-border lines. The estimated results indicate that although these are capital-intensive projects, attainable benefits seem to be large enough to justify the investment well.
Topic:
Economics, Climate Finance, and Business
Political Geography:
Southeast Asia

237. European insurance union and how to get there

Author:
Dirk Schoenmaker
Publication Date:
12-2016
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
What are the arguments for and against centralisation of insurance supervision? What would be the scope of a possible insurance union, and what would the legal basis be? How rapid should the move to insurance union be? This Policy Brief sets out to answer these questions.
Topic:
Economics and International Trade and Finance
Political Geography:
Europe

238. Assessing the Governance Practices of Sustainability Reporting

Author:
Jason Thistlethwaite and Melissa Menzies
Publication Date:
01-2016
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
To promote climate change risk mitigation in financial markets, the Financial Stability Board recently proposed the creation of a Climate Disclosure Task Force, coordinated through the G20, to develop standards for companies to disclose their exposure to climate change risks. With more than 400 existing disclosure schemes, this task will be challenging. This brief identifies the key categories of governance practices that must be addressed, how these divergent practices challenge end-users, and how the establishment of criteria that define effective and efficient reporting is a critical first step for the Climate Disclosure Task Force.
Topic:
Climate Change, Economics, Markets, and Financial Crisis
Political Geography:
Global Focus

239. Recent Department of Labor Rules Open the Door for States to Move Forward with Retirement Initiatives

Author:
David S. Mitchell and Jeremy Smith
Publication Date:
01-2016
Content Type:
Policy Brief
Institution:
Aspen Institute
Abstract:
On November 18, 2015, the Obama Administration's Department of Labor (DOL) published two important legal opinions that propose to give states new options for expanding retirement coverage for private-sector workers. These opinions open the door for states to move forward along one of two distinct paths: a payroll deduction plan that avoids ERISA, or a more traditional model that would fall under ERISA. This issue brief summarizes these rules and highlights the tradeoffs state policymakers will face when deciding which of these new avenues to pursue. The brief will be updated once the proposals are finalized.
Topic:
Economics, Human Welfare, Labor Issues, Governance, and Social Movement
Political Geography:
United States

240. An Economy For the 1%: How privilege and power in the economy drive extreme inequality and how this can be stopped

Author:
Deborah Hardoon, Ricardo Fuentes-Nieva, and Sophia Ayele
Publication Date:
01-2016
Content Type:
Policy Brief
Abstract:
The global inequality crisis is reaching new extremes. The richest 1% now have more wealth than the rest of the world combined. Power and privilege is being used to skew the economic system to increase the gap between the richest and the rest. A global network of tax havens further enables the richest individuals to hide $7.6 trillion. The fight against poverty will not be won until the inequality crisis is tackled.
Topic:
Economics, Human Welfare, International Trade and Finance, Poverty, and Social Movement
Political Geography:
Global Focus

241. Does the Level of Public Debt Matter?

Author:
Susan Schadler
Publication Date:
04-2016
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
Research on links between the level of a country’s public debt and its broader economic developments has been heatedly debated in the economic literature. Two strands of the research stand out — one linking the level of debt to a country’s GDP growth rate and the other examining the debt level as an EWI of economic crises. As a broad generalization, research at the moment favors the view that high levels of debt are not a cause, in and of themselves, of low growth nor are they particularly good predictors of impending economic or even debt crises. In principle, the empirical findings have obvious implications for policy makers confronting the question of how to fashion policies (and fiscal policy in particular) when a country has a high debt burden. The IMF, as both a contributor to the literature and an adviser concerned with preventing or dealing with debt crises, has a particularly important stake in navigating the findings. Whether in its surveillance (routine annual advice to all member countries) or the construction of its lending programs to support countries in or near crisis, the IMF must answer the question “how much does the level of debt matter?” Despite the empirical research that casts doubt on the importance of debt, the level of debt figures prominently in the algebra of debt sustainability and the IMF’s real world policy advice. This policy brief examines the nexus of the relatively strong conclusions coming from the academic research and the IMF’s policy advice. It addresses the following question: given that the broad conclusion from the academic literature is that the level of debt itself is not systematically bad for growth or stability, why does the debt level seem to figure rather prominently in the IMF’s policy advice and conditionality?
Topic:
Debt, Development, Economics, International Monetary Fund, Financial Crisis, GDP, and Global Markets
Political Geography:
Global Focus

242. Have Macroeconomic Rules of the Game Changed? Some Clues from the Phillips Curve

Author:
Samuel Howorth, Domenico Lombardi, and Pierre Siklos
Publication Date:
02-2016
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
Students of macroeconomics will have heard about the central role played by the so-called Phillips curve in both theoretical and empirical analyses for almost 70 years. In 1958, A. W. Phillips reported an inverse relationship between changes in wages and the unemployment rate (Phillips 1958). The progeny of his thinking led to a revolution both in policy making and in the development of theoretical links between the real and nominal macroeconomic variables. Names such as Samuelson, Solow, Phelps, Friedman, Lucas and Sargent became associated with refinements and enhancements of the core finding reported by Phillips. Indeed, all of these economists went on to become Nobel laureates in economics, although not exclusively because of their contributions to the analysis of what has since been called the Phillips curve. Indeed, the concept is so influential that it spawned several different versions of the trade-off used to guide policy makers as a menu for the choices they face when deciding whether the gains from lower inflation are offset by the economic costs of higher unemployment. Initially, expectations of individuals or firms were ignored. This briefly gave policy makers the impression that they could simply select an inflation-unemployment combination and implement the necessary policy mix to achieve the desired outcome. Once a role for expectations was incorporated, debate centred on how forward-looking individuals are. The more forward-looking, the less likely it was that policy makers would be able to “exploit” the trade-off because, unless wages rose in purchasing-power terms, the gains from lower unemployment would, at best, be temporary once workers realized that the higher inflation, at unchanged wages, actually drives real wages down. Indeed, the pendulum swung all the way to the conclusion — reached by the 1970s and early 1980s — that the Phillips curve was illusory and there was no trade-off policy makers could exploit.
Topic:
Economics, Human Welfare, International Political Economy, Labor Issues, and Global Markets
Political Geography:
Global Focus

243. EU Pressure Insufficient to Gain U.S. Visa Waiver for Poles

Author:
Marek Wasinski
Publication Date:
04-2016
Content Type:
Policy Brief
Institution:
The Polish Institute of International Affairs
Abstract:
In a communication of 12 April, the European Commission assessed the potential political and economic consequences of suspending visa exemption for U.S. citizens. Lacking pressure from individual EU Member States, the Commission discouraged such a move and gave the EU Council and European Parliament three months to take an official position. It seems almost certain that the measure of applying pressure on a non-EU country will not be used to help Poland and four other Member States obtain visa-free travel to the United States or other countries with a similar restriction. However, if current trends continue, Poland should join the U.S. Visa Waiver Programme in five years.
Topic:
Economics, Politics, European Union, and Citizenship
Political Geography:
United States and Europe

244. Brazil’s Perception of the Visegrad Group: Not a Strategic but a Prospective Partnership

Author:
Carolina Salgado and Marek Wasinski
Publication Date:
03-2016
Content Type:
Policy Brief
Institution:
The Polish Institute of International Affairs
Abstract:
The Visegrad Group is still a new label among policy makers as well as public and private investors, scholars and media in Brazil. However, since their accession to the EU in 2004, and the financial crisis that started in 2008, the four Central European countries in this group have started to look beyond Europe in order to formulate their economic and political agenda, aiming to boost partnerships, for example among the biggest South American countries such as Brazil. V4 and Brazil should build momentum to deepen cooperation in the most promising prospective areas such as trade, military, tourism and education.
Topic:
Economics, International Trade and Finance, Politics, and Financial Crisis
Political Geography:
Brazil

245. Many Belts and Many Roads: The Proliferation of Infrastructure Initiatives in Asia

Author:
Justyna Szczudlik
Publication Date:
02-2016
Content Type:
Policy Brief
Institution:
The Polish Institute of International Affairs
Abstract:
Asia could be described as the world’s great construction site, and is already the focus of a scramble for infrastructure projects. Among countries competing for investments are not only China with its Silk Road initiative, but also Korea, Japan, India and ASEAN, which have prepared their own infrastructural strategies. The plethora of initiatives may have a positive impact on Asia, offering diverse solutions to the infrastructural bottleneck and reforms of existing institutions and modes of assistance. But there is also the risk that fierce competition may result in unprofitable projects, while economic slowdown could cause a decline in funding. For Europe these initiatives create opportunities to take part in new projects, but the EU should be aware that the projects will be implemented mainly in Asia and by Asian countries.
Topic:
Economics, International Trade and Finance, Infrastructure, and Reform
Political Geography:
Asia

246. Forever on the Periphery? The Return of Geopolitics to EU Enlargement to the Balkans

Author:
Tomasz Żornaczuk
Publication Date:
02-2016
Content Type:
Policy Brief
Institution:
The Polish Institute of International Affairs
Abstract:
At the beginning of 2016, almost 13 years after the Thessaloniki declaration to integrate the Western Balkans into the European Union, Brussels is left with Croatia as a Member State, Montenegro half way, at best, to becoming one, Serbia with first negotiation chapters just opened, and half of the region with no clear prospect of membership. But the wait-and-see approach that the EU had been employing for a number of years towards the enlargement policy in the Balkans has become even riskier in times of new international challenges. Among them, the ever-growing tensions between the West and Russia should, in particular, serve as motivation for the Union to look at enlargement in the Balkans from a geopolitical angle. Even if the Member States have in recent years shown less enthusiasm towards further rounds of enlargement, this should not discourage the EU institutions from undertaking an active role to revive the European integration process in the Balkans.
Topic:
Economics, Regional Cooperation, European Union, and Geopolitics
Political Geography:
Serbia and Croatia

247. How ASEAN’s Transformation Can Play Out Well for Europe

Author:
Damian Wnukowski
Publication Date:
02-2016
Content Type:
Policy Brief
Institution:
The Polish Institute of International Affairs
Abstract:
The transformation of ASEAN into an economic community is a significant step in the organisation’s integration process. The project, formally launched at the beginning of 2016, aims at creation of a single market of more than 620 million people, loosens the flow of goods, services and investment, which should underpin regional economic growth and catch the attention of foreign businesses. However, obstacles to economic cooperation remain, such as limitations on the movement of labour or capital, which shows that the integration process is not yet complete. The EU, which can benefit from a well-functioning market in this region, should share its own experience to support the ASEAN integration process.
Topic:
Economics, International Trade and Finance, Markets, Politics, and Labor Issues
Political Geography:
Europe

248. Transnistria Zig-zagging towards a DCFTA

Author:
Stanislav Secrieru
Publication Date:
01-2016
Content Type:
Policy Brief
Institution:
The Polish Institute of International Affairs
Abstract:
Although Transnistria, in exchange for meeting certain conditions, was allowed to benefit from the free trade agreement that Moldova signed with the EU, there are plenty of obstacles which could derail the deal. The business community in the breakaway republic is eager to enjoy the fruits of the DCFTA but is reluctant to shoulder the price of necessary reforms, the outgoing leader of the separatist enclave could undermine the agreement for electoral reasons, Russia might be tempted to test the EU’s resolve to defend its trade-related norms, and Moldova could erect bureaucratic barriers for producers from the left bank of the Nistru River. In the light of these many risks, the EU should persistently encourage all sides to stick to their commitments while averting disputes that would undermine enforcement of the DCFTA in Transnistria in a timely manner.
Topic:
Economics, International Trade and Finance, Politics, Elections, and European Union
Political Geography:
Moldova and Transnistria

249. Ukraine: A Migration Corridor with Half-Closed Doors

Author:
Piotr Kościński
Publication Date:
01-2016
Content Type:
Policy Brief
Institution:
The Polish Institute of International Affairs
Abstract:
At a time when many European countries are strengthening border protection (including building walls), migrants will seek new avenues to Europe. In this context and of particular importance will be the policy of the authorities of Ukraine, which currently, and despite the still unstable situation in the country (war in the east and economic problems) could become the country of choice for migrants. Another problem for Kyiv may be internal migration. Both forms increase the risk of migration to EU countries such as Poland, Hungary, Slovakia and Romania, which are neighbours of Ukraine. In this situation, additional EU assistance to the authorities in Kyiv will be necessary.
Topic:
Economics, Migration, Politics, and Governance
Political Geography:
Europe and Ukraine

250. Beyond Manufacturing: Developing the Service Sector to Drive Growth in the PRC

Author:
Wei Wang, Gemma Estrada, Jurgen Conrad, Sang-Hyo Lee, and Donghyun Park
Publication Date:
05-2016
Content Type:
Policy Brief
Institution:
East-West Center
Abstract:
As demand from global markets declines, slowing exports of manufactured goods from the People's Republic of China means the country must increasingly rely on domestic markets for growth. Unlike manufactured goods, services—those "intangible" products that include everything from transportation to scientific research to real estate services—are geared more toward domestic markets. Services, then, will be key to the rebalancing process. However, while the service sector has grown rapidly in the PRC, it continues to lag behind other countries at similar stages of development. In addition, the sector is dominated by traditional low-end types of services, rather than knowledge-intensive services. Heavy regulatory burdens, barriers to trade in services, and an unfavorable policy environment have been major obstacles to upgrading the sector and improving its competitiveness. Policy reform should focus on strengthening competition to raise productivity, with the goal of increasing not only the number of jobs and contribution to GDP, but also of positioning the service sector to compete internationally and spur export growth.
Topic:
Economics, Markets, Reform, and GDP
Political Geography:
China

251. The Russian Reality Check on Turkey's Gas Hub Hopes

Author:
Morena Skalamera
Publication Date:
01-2016
Content Type:
Policy Brief
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
On Nov 24, 2015, Turkey shot down a Russian fighter jet after it veered into its airspace for 17 seconds. On December 13, a Russian ship fired warning shots at a Turkish vessel in the Aegean Sea. Bilateral tensions, with overt military dimensions, have seemed to quickly replace the goodwill that characterized relations only a year ago. Over the past few weeks, experts and observers have debated whether this incident will jeopardize deep Turkish-Russian energy cooperation—and whether newfound tensions between Moscow and Ankara will thwart Turkey’s ambition to transform itself into an energy hub. A closer look suggests grounds for both optimism and pessimism. Given the deep interests of both parties in continuing energy cooperation, and the mutual nature of the dependency, tensions over Syria are unlikely to adversely impact energy cooperation in a fundamental way. Turkey, however, is unlikely to realize its vision of an energy hub—not because of Russia, but because of a combination of domestic and other geopolitical factors.
Topic:
International Relations, Security, Economics, Energy Policy, Oil, Geopolitics, Gas, and Trade
Political Geography:
Russia, Europe, and Turkey

252. Saudi Arabia: The New Power Structure

Publication Date:
02-2015
Content Type:
Policy Brief
Institution:
The Soufan Group
Abstract:
King Salman has confirmed his reputation as a religious conservative through the reappointment of traditionalist clerics However he has also made some effort to streamline the Saudi government Recent changes have given considerable power to two men from the next generation: King Salman's son and his nephew The result may be good for hard security measures, but less certain for the soft measures necessary for Saudi Arabia to weather the storm.
Topic:
Security, Development, Economics, Islam, Political Economy, and Governance
Political Geography:
Middle East and Arabia

253. TSG IntelBrief: A War of Frustrations

Publication Date:
03-2015
Content Type:
Policy Brief
Institution:
The Soufan Group
Abstract:
There hasn't been a lasting and successful end to an armed conflict in the Middle East in decades, and the newest fighting in Yemen can be seen through a lens of deep regional frustration over countless issues that seem to defy solutions The entire region is frustrated with the worsening status quo, but the consensus and creativity to meaningfully address the challenges is lacking, even with the newly announced Arab 'rapid response force' to an extremist problem that has been openly growing for a decade The only actors not frustrated are non-state actors, who fill the ever-widening chasm between what regional governments can deliver and what their populations demand.
Topic:
Economics and Government
Political Geography:
Middle East, Yemen, and Algeria

254. Afghanistan's Continuing Fiscal Crisis: No End In Sight

Author:
William A. Byrd
Publication Date:
05-2015
Content Type:
Policy Brief
Institution:
United States Institute of Peace
Abstract:
For several years, Afghanistan’s economy and public finances have worsened, culminating in a full-blown fiscal crisis in 2014. Political uncertainties, the weakening Afghan economy, corruption in tax collection, stagnant government revenues, and increasing expenditures have contributed to the current fiscal impasse. In the absence of bold actions by the Afghan government along with proactive international support to turn around the fiscal situation, the fiscal crisis and its insidious effects will continue.
Topic:
Conflict Resolution, Corruption, Economics, and Financial Crisis
Political Geography:
Afghanistan and Central Asia

255. Reviving Ukraine’s Private Sector: How US Leadership Can Yield Benefits

Author:
Robert Monyak
Publication Date:
07-2015
Content Type:
Policy Brief
Institution:
Atlantic Council
Abstract:
Ukraine's economy is flagging. But a Ukrainian economy, integrated with the rest of Europe and by extension, the world economy, is essential for the country's political stability and its ability to withstand Russian aggression. While the international community is yet to develop a large-scale macro-economic assistance program on the order of the Marshall Plan, the US government can utilize existing programming through its development agencies to provide an immediate positive jolt to the private sector economy in Ukraine.
Topic:
Economics and Self Determination
Political Geography:
Ukraine

256. The Future of Afghanistan-Pakistan Trade Relations

Author:
Ishrat Husain and Muhammad Ather Elahi
Publication Date:
08-2015
Content Type:
Policy Brief
Institution:
United States Institute of Peace
Abstract:
Pakistan and Afghanistan are among each other’s largest trading partners. Though an agreement was signed in 2010 to strengthen trade relations and facilitate Afghan transit trade through Pakistan, implementation has been mixed, with many on both sides of the border complaining of continued barriers to exchange. Both nations need to improve trade facilitation through streamlined payments settlement and improved insurance mechanisms, the use of bonded carriers, visa issuance, trade financing, tax collection, and documentation.
Topic:
Economics, Foreign Exchange, International Trade and Finance, and Bilateral Relations
Political Geography:
Pakistan and Afghanistan

257. Revising U.S. Grand Strategy Toward China

Author:
Robert Blackwill and Ashley Tellis
Publication Date:
05-2015
Content Type:
Policy Brief
Abstract:
Robert D. Blackwill and Ashley J. Tellis argue that the United States has responded inadequately to the rise of Chinese power. This Council Special Report recommends placing less strategic emphasis on the goal of integrating China into the international system and more on balancing China's rise.
Topic:
Economics, Politics, and Hegemony

258. What Next for the IMF?

Author:
Edwin M. Truman
Publication Date:
01-2015
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
After the Obama administration's four failed attempts to win congressional approval of the 2010 quota and governance reform for the International Monetary Fund (IMF), it is time to recognize that implementation of the agreement may be indefinitely delayed. The international community must therefore prepare for the likelihood of a new world order in which the IMF augments its funding and reforms its governing structure without US participation. This Policy Brief examines four options for the IMF: First, wait for the US Congress to pass the necessary legislation. Second, complete a new, augmented IMF quota and governance package and again wait for the United States to give its formal approval. Third, bypass the US Congress and risk losing the US veto over a few important decisions on the structure of the IMF. Fourth, let the Fund adopt a reform and financing package within a structure that potentially excludes US participation and eliminates the US veto in the new entity.
Topic:
Economics, International Trade and Finance, International Monetary Fund, Governance, and Reform

259. Service Sector Reform in China

Author:
Ryan Rutkowski
Publication Date:
01-2015
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
Faced with slowing economic growth, Chinese policymakers now recognize that the service sector of the economy—transportation, communications, finance, and health care—could spur economic activity and employment. The catch is that China must reform these and other areas to accomplish this goal. Chinese leaders have outlined an ambitious agenda for reform, but myriad vested interests could slow or block their plans. This Policy Brief evaluates the steps taken so far and the difficulties that lie ahead in implementing them. If policymakers fail to reform and open up the service sector, they run the risk of seriously impairing China's growth prospects.
Topic:
Economics, International Trade and Finance, Labor Issues, Financial Crisis, and Reform
Political Geography:
China

260. Japanese Investment in the United States: Superior Performance, Increasing Integration

Author:
Theodore H. Moran and Lindsay Oldenski
Publication Date:
02-2015
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
Japan is reemerging as the most important source of foreign direct investment (FDI) in the United States. In 2013 Japanese firms were the largest source of new inflows of FDI into the United States for the first time since 1992, injecting almost $45 billion of fresh investment into the US economy in that year alone. Moran and Oldenski show how Japanese investment in the United States differs from that of other countries along several dimensions. These differences not only make FDI by Japanese firms especially valuable but point to some important policy goals for attracting it. Although the automotive sector is the single largest industry for Japanese investment in the United States, the focus should not be on competing to attract the auto industry in particular nor should any active industrial policy of "picking winners" be pursued. Japanese investment is unique because of its research and development intensity, manifested across a number of industries in which Japanese multinationals invest other than automobiles. US policy should focus on reinforcing and expanding the factors that attract high-performing firms and high-value production stages to the United States, regardless of industry.
Topic:
Development, Economics, Foreign Direct Investment, and United States
Political Geography:
Japan

261. How Not to Regulate Insurance Markets: The Risks and Dangers of Solvency II

Author:
Avinash D. Persaud
Publication Date:
04-2015
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
Solvency II, which the European Parliament adopted in March 2014, codifies and harmonizes insurance regulations in Europe to reduce the risk of an insurer defaulting on its obligations and producing dangerous systemic side effects. The new directive tries to achieve these aims primarily by setting capital requirements for the assets of insurers and pension funds based on the annual volatility of the price of these assets. Persaud argues that these capital requirements will impose an asset allocation on life insurers and pension funds that does not serve the interests of consumers, the financial system, or the economy. The main problem with Solvency II is that the riskiness of the assets of a life insurer or pension fund with liabilities that will not materialize before 10 or sometimes 20 years is not well measured by the amount by which prices may fall during the next year. Solvency II fails to take account of the fact that institutions with different liabilities have different capacities for absorbing different risks and that it is the exploitation of these differences that creates systemic resilience. To correct this problem, Persaud offers an alternative approach that is more attuned to the risk that a pension fund or life insurer would fail to meet its obligations when they come due and less focused on the short-term volatility of asset prices.
Topic:
Economics, International Trade and Finance, and Budget

262. : From Rapid Recovery to Slowdown: Why Recent Economic Growth in Latin America Has Been Slow

Author:
Jose De Gregorio
Publication Date:
04-2015
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
Latin America's recent economic performance has been disappointing. After a very strong recovery from the Great Recession, growth has slowed considerably, and prospects for 2015 are dim. Among the seven largest economies in the region, output is expected to contract in Argentina, Brazil, and Venezuela, and Chile, Colombia, Mexico, and Peru are projected to grow by only about 3 percent. The decline was not caused by external factors but was mostly cyclical in nature and a result of low productivity. Although monetary and fiscal policies may still have a role in supporting demand in some instances, the main problem in the region is not a lack of demand but low productivity growth. Efforts must be made to foster productivity. Institutional weakness must be addressed and inequality reduced if sustainable high growth is to resume.
Topic:
Economics, International Trade and Finance, Monetary Policy, and Financial Crisis
Political Geography:
Latin America

263. Quantity Theory of Money Redux? Will Inflation Be the Legacy of Quantitative Easing?

Author:
William R. Cline
Publication Date:
05-2015
Content Type:
Policy Brief
Abstract:
Since the onset of the Federal Reserve's unconventional program of large scale asset purchases, known as quantitative easing (QE), some economists and financial practitioners have feared that the consequent buildup of the Fed's balance sheet could lead to a large expansion of the money supply, and that such an increase could cause a sharp rise in inflation. So far fears about induced inflation have not been validated. This Policy Brief examines the basis for the original concerns about inflation in terms of the classic quantity theory of money, which holds that inflation occurs when the money supply expands more rapidly than warranted by increases in real production. The Brief first reviews the US experience and shows that whereas rapid money growth might have been a plausible explanation of inflation in the 1960s through the early 1980s, subsequent data have not supported such an explanation. It then shows that the quantity theory of money has not really been put to the test after the Great Recession, because a sharp increase in banks' excess reserves and corresponding sharp decline in the "money multiplier" has meant that the rise in the Federal Reserve's balance sheet has not translated into increased money available to the public in the usual fashion. The most likely aftermath of quantitative easing remains one of benign price behavior. However, if nascent inflationary conditions materialize, the Federal Reserve will need to manage adroitly the large amounts of banks' excess reserves that have accumulated as a consequence of QE in order to limit inflationary pressures.
Topic:
Economics, International Political Economy, International Trade and Finance, and Federal Reserve
Political Geography:
United States

264. Too Much Finance, or Statistical Illusion?

Author:
William R. Cline
Publication Date:
06-2015
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
For nearly three decades, the dominant view on the role of the financial sector in economic development has been that greater financial depth facilitates faster growth. However, the Great Recession has shaken confidence in that view because of the contributing role of high leverage and such financial innovations as collateralized subprime mortgage-backed assets and derivatives on them. Recent studies from the International Monetary Fund and Bank for International Settlements have argued that "too much finance" reduces growth. In an environment of new doubts about finance following the Great Recession, these studies finding that there can be too much of it seem to have struck a responsive chord. Cline warns that these findings should be viewed with considerable caution. He first shows that correlation without causation could similarly lead to the conclusion that too many doctors spoil growth, for example. He the demonstrates algebraically that if the variable of interest, be it financial depth, doctors, or any other good or service that rises along with per capita income, is incorporated in a quadratic form into a regression of growth on per capita income, there will be a necessary but spurious finding that above a certain point more of the good or service in question causes growth to decline. In some situations, finance can become excessive; the crises of Iceland and Ireland come to mind. But it is highly premature to adopt as a new stylized fact the recent studies' supposed thresholds beyond which more finance reduces growth.
Topic:
Economics, International Trade and Finance, International Monetary Fund, and Financial Crisis

265. Gains from Harmonizing US and EU Auto Regulations under the Transatlantic Trade and Investment Partnership

Author:
Caroline Freund and Sarah Oliver
Publication Date:
06-2015
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
Regulatory standards protect consumers from defective products, but they impede trade when they differ across countries. The Transatlantic Trade and Investment Partnership (TTIP) seeks to reduce distortions in the automobile and other industries. Freund and Oliver evaluate the equivalence of automobile regulations in the United States and the European Union in terms of catastrophe avoidance and estimate the trade gains from harmonization. The UN 1958 Agreement on automobiles, which harmonizes regulations among signatories, is used to quantify the trade effect of regulatory convergence. The removal of regulatory differences in autos is estimated to increase trade by 20 percent or more. The effect on trade from harmonizing standards is only slightly smaller than the effect of EU accession on auto trade. The large economic gains from regulatory harmonization imply that TTIP has the potential to improve productivity while lowering prices and enhancing variety for consumers.
Topic:
Economics, International Trade and Finance, Treaties and Agreements, and European Union
Political Geography:
Global Focus

266. From Populist Destabilization to Reform and Possible Debt Relief in Greece

Author:
William R. Cline
Publication Date:
08-2015
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
Using his European Debt Simulation Model (EDSM), Cline examines whether and to what extent additional debt relief is needed in Greece under the new circumstances. Greece's debt burden is significantly lower than implied by the ratio of its gross debt to GDP, because of concessional interest rates on debt owed predominantly to the euro area official sector. The IMF's call for debt relief recognizes the lower interest burden but argues that the gross financing requirement is on track to exceed a sustainable range of 15 to 20 percent. But in the Fund's June Debt Sustainability Analysis that threshold would not be exceeded until after 2030. A sustainability diagnosis based on such a distant future date would seem at best illustrative rather than definitive. The euro area creditors might, nonetheless, be well advised to provide two types of interest relief: an earmarked portion of interest otherwise due to finance a public works employment program; and additional interest relief to compensate for budget shortfalls caused by growth below plan levels. The sovereign debt situation should be alleviated by carrying out the bank recapitalization directly from the European Stability Mechanism to the banks, rather than through the sovereign as the intermediary. The large increase in the ratio of gross debt to GDP imposed by bank recapitalization is mostly an optical illusion because there would be a corresponding rise in state assets, but this increase could, nonetheless, further erode perceptions of sustainability.
Topic:
Debt, Economics, International Monetary Fund, Financial Crisis, and Budget
Political Geography:
Greece

267. Korea and the TPP: The Inevitable Partnership

Author:
Jeffrey J. Schott
Publication Date:
08-2015
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
Korea's decision to delay joining the Trans-Pacific Partnership (TPP) talks was a tactical mistake. It is now left with primarily two options to participate: (1) ask to join the TPP, if possible between signature and entry into force, or (2) accede to the TPP after the agreement is ratified and goes into effect—either alone or as part of a group of countries seeking TPP membership. For Korea the burden of adjustment in the TPP—in terms of liberalization commitments—will probably be higher than had it joined as an original signatory. As a major trading nation, it stands to reap large gains from increased trade and investment with TPP countries and should opt to join the TPP as soon as the window for entry reopens.
Topic:
Economics and Treaties and Agreements
Political Geography:
South Korea

268. Reshoring by US Firms: What Do the Data Say?

Author:
Lindsay Oldenski
Publication Date:
09-2015
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
Reshoring—when firms shift manufacturing production back to the United States—has been getting a great deal of publicity lately. Oldenski examines the most recent data on the global operations of US firms and concludes that although some companies have reversed their previous offshoring decisions, there is no evidence of a widespread reshoring trend. But this should not be considered a defeat for US competitiveness. US multinationals continue to move operations offshore, but they also continue to grow stronger, producing more in their US operations and adding more to total US exports. The structure of US manufacturing has changed, but the ability to adapt to the changing nature of global business has been and will continue to be crucial to the continued growth of US manufacturing.
Topic:
Economics and International Trade and Finance
Political Geography:
United States

269. Fiscal Tightening and Economic Growth: Exploring Cross-Country Correlations

Author:
Paolo Mauro and Jan Zilinsky
Publication Date:
09-2015
Content Type:
Policy Brief
Abstract:
The global financial and economic crisis that began in 2008 has rekindled the debate on the impact of fiscal policy on economic growth. At the outset of the crisis the focus—particularly in the United States—was on whether fiscal stimulus (an expansion in the fiscal deficit) boosts economic growth. Since 2011 or so, with the depth of the crisis becoming more severe in some European countries and Greece in particular, the emphasis of the debate has shifted to whether fiscal adjustment (a reduction in the fiscal deficit) curtails economic growth. Public discourse has been heavily influenced by simple charts analyzing the correlations between measures of fiscal "austerity" and economic growth for small samples of countries over limited time periods. Mauro and Zilinsky analyze the correlations in the data starting from the simplest and gradually building up, in a step-by-step, transparent manner, to multivariate regressions based on various samples of countries for different periods. The results show that simple correlations are no longer significant when considering slightly longer sample periods and omitting outliers, like Greece, from the sample. In multivariate regressions using broader samples, a tightening of fiscal policy is significantly associated with lower economic growth only in some specifications and estimation samples. On the whole, the data offer partial support to the notion that fiscal choices and output growth are correlated.
Topic:
Debt, Economics, and Financial Crisis
Political Geography:
Global Focus

270. Do Public Development Banks Hurt Growth? Evidence from Brazil

Author:
Monica de Bolle
Publication Date:
09-2015
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
Public lending by the Brazilian Development Bank (BNDES) may have done more harm than good in Brazil, adversely affecting real interest rates and productivity growth. Specifically, BNDES's large amounts of subsidized lending are responsible for substantial credit market segmentation, choking off monetary policy transmission. As a result, to maintain price stability the Central Bank of Brazil is forced to raise interest rates more than it might do otherwise in the absence of BNDES lending. Restoring Brazil's capacity to grow in the medium term requires a thorough rethinking of the role of BNDES. In particular, the bank's lending rates should be aligned with market prices, term and risk premia, while taking into account that, with an adequate transparency framework, public development banks can increase private sector participation instead of crowding it out.
Topic:
Development, Economics, International Trade and Finance, and Markets
Political Geography:
Brazil and Latin America

271. Chinese Investment and CFIUS: Time for an Updated (and Revised) Perspective

Author:
Theodore Moran
Publication Date:
09-2015
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
For more than a decade, China has complained about what it maintains has been a pattern of erratic and politicized treatment of Chinese investors when they attempt to acquire US companies. The Chinese want the Committee on Foreign Investment in the United States (CFIUS) to be more open and transparent in its rulings and to not discriminate against Chinese firms. The United States is not likely to accede to these demands in any formal or legal manner. Moran proposes practical steps to address the concerns of Chinese investors without diluting CFIUS procedures. He provides a national security threat assessment filter, which allows Chinese investors—like investors of all nationalities—to determine when their proposed acquisitions might pose a genuine threat and when any such threat is simply not plausible. He also suggests that first-time Chinese investors seek expert counsel to overcome the secrecy surrounding CFIUS objections to figure out how to proceed with problematic acquisitions.
Topic:
Economics, Markets, and Foreign Direct Investment
Political Geography:
United States

272. Russia's Economy under Putin: From Crony Capitalism to State Capitalism

Author:
Simeon Djankov
Publication Date:
09-2015
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
In the 15 years of President Vladimir Putin's rule, state control over economic activity in Russia has increased and is greater today than in the immediate postcommunist era. The concentration of political and economic power in Putin's hands has led to an increasingly assertive foreign policy, using energy as a diplomatic tool, while plentiful revenues from extractive industries have obfuscated the need for structural reforms at home. The West's 2014 sanctions on Russia have brought about economic stagnation, and with few visible means of growth, the economy is likely to continue to struggle. Watching Europe struggle with its own growth, in part because of deficiencies in its economic model, Russia will not be convinced to divert from state capitalism without evidence of a different, successful economic model. Changing course can only be pursued in the presence of political competition; the current political landscape does not allow for such competition to flourish
Topic:
Economics and Politics
Political Geography:
Russia and Europe

273. Tunisia: The Last Arab Spring Country

Author:
Mohsin Khan and Karim Merzan
Publication Date:
10-2015
Content Type:
Policy Brief
Institution:
Atlantic Council
Abstract:
The Norwegian Nobel Committee awarded the Tunisian National Dialogue Quartet, a civil society group comprising the Tunisian General Labor Union; the Tunisian Union of Industry, Trade, and Handicrafts; the Tunisian Human Rights League; and the Tunisian Order of Lawyers the 2015 Nobel Peace Prize on Friday, October 9, 2015 "for its decisive contribution to the building of a pluralistic democracy in Tunisia." In a new Atlantic Council Issue Brief, "Tunisia: The Last Arab Spring Country," Atlantic Council Rafik Hariri Center for the Middle East Senior Fellows Mohsin Khan and Karim Mezran survey the successes of Tunisia's consensus-based transition and the challenges that lie ahead. "The decision to award this year's Nobel Peace Prize to Tunisia's National Dialogue Quartet is an extremely important recognition of the efforts made by Tunisian civil society and Tunisia's political elite to reach a consensus on keeping the country firmly on the path to democratization and transition to a pluralist system," says Mezran. With the overthrow of the authoritarian regime of President Zine El Abedine Ben Ali in 2011, Tunisia embarked on a process of democratization widely regarded as an example for transitions in the region. The National Dialogue Conference facilitated by the Quartet helped Tunisia avert the risk of plunging into civil war and paved the way for a consensus agreement on Tunisia's new constitution, adopted in January 2014. In the brief, the authors warn that despite political successes, Tunisia is hampered by the absence of economic reforms. Facing the loss of tourism and investment following two terror attacks, Tunisia's economy risks collapse, endangering all of the painstaking political progress gained thus far. Unless the Tunisian government moves rapidly to turn the economy around, Tunisia risks unraveling its fragile transition.
Topic:
Security, Democratization, Economics, Political Activism, and Reform
Political Geography:
Arab Countries and Tunisia

274. In Pursuit of Transparent Trading

Publication Date:
10-2015
Content Type:
Policy Brief
Institution:
Natural Resource Governance Institute
Abstract:
Commodity trading and the activities of trading companies influence economic and governance outcomes in developing countries. Typically privately owned with flexible business models, many trading companies work extensively in “high-risk” environments – including countries with weak institutions, conflicts or other challenges that scare away more risk-averse companies. Given the size of this footprint, and its prevalence in countries with high levels of corruption or poverty (or both), the quality of trading companies’ business practices is of serious concern. Trading companies play several roles through which they influence public institutions and public revenues, and they frequently build close relationships with top officials and political elites. They are major buyers of raw materials sold by governments and state-owned companies worldwide, and these transactions generate significant public revenues. Traders also provide large loans to governments, sell refined products, and enter into joint ventures with state-owned entities. They are expanding their upstream and downstream operations in developing countries as well.
Topic:
Economics, International Trade and Finance, Natural Resources, and Governance
Political Geography:
Global Focus

275. From Reporting to Reform: Eleven Opportunities for Increasing EITI Impacts

Author:
Max George-Wagner and Erica Westenberg
Publication Date:
06-2015
Content Type:
Policy Brief
Institution:
Natural Resource Governance Institute
Abstract:
Under the EITI Standard, implementing countries are required to produce far more comprehensive reports than before; these go beyond revenue payments to include disclosures across the entire extractive industries decision chain. However, the objective of the Standard is not merely to generate more data, but rather that stakeholders will use the information to impact the governance of the sector. This EITI briefing note explores how countries are faring at meeting the EITI’s more ambitious requirements and what implementing countries can do to begin moving “from reporting to reform.” This briefing note is based on a review of the first 22 reports produced under the Standard; the review assesses both the quality of reporting, as well as the content. We found that in many respects countries have risen to the challenge and become more ambitious and comprehensive in their reporting. This has included highlighting critical deficiencies in license allocation processes, revealing politically affiliated owners of companies, and identifying significant local revenues that were never disbursed. However, a number of significant gaps remain and these are holding countries back from seeing meaningful impacts from their EITI processes. For instance, these reports have missed opportunities to inform major tax code revisions, ignored hotly debated issues of sector employment, and left stakeholders in the dark about individual extractive projects.
Topic:
Economics, Industrial Policy, Intelligence, Natural Resources, and Governance
Political Geography:
Global Focus

276. NRGI Readers: A Primer Series About Resource Governance

Publication Date:
04-2015
Content Type:
Policy Brief
Institution:
Natural Resource Governance Institute
Abstract:
NRGI has created a series of short, illustrated overviews of key topics in NRGI's portfolio of work. Together they serve as a robust introduction for the lay reader to fundamental issues and concepts in resource governance. Most contain helpful figures and infographics, and each reader has a standard format: key messages, key concepts and case examples, and a final set of practitioner-orientated questions to ask. Each topic is explicitly linked to the relevant precepts of the Natural Resource Charter.
Topic:
Economics, Industrial Policy, Oil, Natural Resources, and Governance
Political Geography:
Global Focus

277. Reviving Afghanistan's Economy

Author:
William A. Byrd
Publication Date:
10-2015
Content Type:
Policy Brief
Institution:
United States Institute of Peace
Abstract:
Some say reviving the Afghan economy in a time of intensifying violent conflict and declining external financial inflows will be impossible. Expectations need to be kept modest, and measures must go beyond conventional economic approaches in order to be effective. This brief puts forward some outside-the-box ideas, which, combined with greater government effectiveness and, hopefully, reductions in violent conflict, may help turn the economy around.
Topic:
Conflict Resolution, Political Violence, Development, and Economics
Political Geography:
Afghanistan and Central Asia

278. The Case for Intellectual Property Rights: Should Patents Be Strengthened, Weakened or Abolished Altogether?

Author:
Joël Blit
Publication Date:
11-2015
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
This policy brief recommends that to diminish the potential for holdup, uncertainty around patent rights should be reduced. Patents should be easily searchable and more easily understood by non-legal experts. In addition, patents should be narrower and more clearly demarcated. To the extent that the welfare costs of patents appear to outweigh their benefits, the requirements for obtaining a patent should be tightened. Further, patents should be made less broad and, concomitant with the reduction in the length of the product cycle, the length of patents should also be reduced.
Topic:
Economics, Intellectual Property/Copyright, Governance, and Law
Political Geography:
North America

279. The 2015 Survey of Progress in International Economic Governance

Author:
Domenico Lombardi and Kelsey Shantz
Publication Date:
11-2015
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
The annual CIGI Survey of Progress in International Economic Governance assesses progress in five areas of international economic governance: macroeconomic and financial cooperation; cooperation on financial regulation; cooperation on development; cooperation on trade; and cooperation on climate change. In this year’s survey, 31 CIGI experts conclude that international economic arrangements continue to show a level of “status quo,” averaging a score of 50% across all five areas. The 2015 survey indicates a slight improvement to the result of last year’s survey, which suggested a minimal regression overall. The experts’ assessment of progress was most promising in the area of climate change cooperation, with an average score of 57%, whereas the least promising area was macroeconomic and financial cooperation, with a score of 44%, indicating minimal regression. The remaining three areas polled all fell within the “status quo” range, with trade at 46%, development at 48% and international cooperation on financial regulation at 53%. Interestingly, in the area of cooperation on development, CIGI’s experts provided a relatively mixed assessment. Responses varied based on experts’ perception of the effectiveness of current rhetoric, from 70% (indicating some progress) to 10% (suggesting major regression). Compared to last year, climate change governance has made the greatest improvement, but the remaining three areas (with the exception of development, which was not included in the 2014 survey) have all, on average, regressed further or remained stagnant. This trend is cause for concern.
Topic:
Climate Change, Development, Economics, International Cooperation, and International Trade and Finance
Political Geography:
Global Focus

280. An Assessment of the Korea-China Free Trade Agreement

Author:
Jeffrey Schott, Eujiin Jung, and Cathleen Cimino-Isaacs
Publication Date:
12-2015
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
Of all the free trade agreements (FTAs) concluded by Korea with its major trading partners since the turn of the century, the Korea-China FTA may be the largest in trade terms. It is, however, far from the best in terms of the depth of liberalization and the scope of obligations on trade and investment policies. Korea and China agreed to liberalize a large share of bilateral trade within 20 years, but both sides incorporated extensive exceptions to basic tariff reforms and deferred important market access negotiations on services and investment for several years. Political interests trumped economic objectives, and the negotiated outcome cut too many corners to achieve such a comprehensive result. The limited outcome in the Korea-China talks has two clear implications for economic integration among the northeast Asian countries. First, prospects for the ongoing China-Japan-Korea talks will be limited and unlikely to exceed the Korea-China outcome. Second, Korea and Japan need to strengthen their bilateral leg of the northeast Asian trilateral and the best way is by negotiating a deal in the context of the Trans-Pacific Partnership.
Topic:
Economics, International Trade and Finance, Politics, and Bilateral Relations
Political Geography:
United States, China, Asia, and Korea

281. Toward a European Migration and Mobility Union

Author:
Jacob Funk Kirkegaard
Publication Date:
12-2015
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
After surviving its worst economic downturn since the Great Depression and the near collapse of its common currency, Europe is now engulfed by hundreds of thousands of desperate migrants and refugees from the Middle East and Africa. It needs new and permanent migration institutions and resources not only to accommodate the influx of refugees but also to set up a new border control system throughout the region. These demands pose a challenge for European policymaking as serious as the euro crisis of the last five years. Kirkegaard proposes a migration and mobility union, to be implemented gradually, with the goal of comprehensively reforming European migration policy.
Topic:
Economics, Migration, Politics, and Refugee Issues
Political Geography:
Europe

282. Estimates of Fundamental Equilibrium Exchange Rates, November 2015

Author:
William R. Cline
Publication Date:
11-2015
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
The latest semiannual fundamental equilibrium exchange rate (FEER) estimates find that the US dollar is now overvalued by about 10 percent, comparable to levels in 2008 through early 2010 and again in 2011. Unlike then, the current strong dollar does not reflect a weak renminbi kept undervalued by major exchange rate intervention by China. Instead, China's current account surplus has fallen sharply relative to GDP, and its recent intervention has been to prevent excessive depreciation rather than to prevent appreciation. Additionally, declines in the real effective exchange rates (REERs) for major emerging-market economies and resource-based advanced economies, driven by falling commodity prices in recent months, have strengthened the dollar. Recent increases in the REERs for the euro area and Japan have removed their modest undervaluation identified in the last FEERs estimates in May, and the Chinese renminbi remains consistent with its FEER. The dollar's rise by nearly 15 percent in real effective terms over the past two years could impose a drag of nearly one-half percent annually on US demand growth over the next five years. As the Federal Reserve moves to normalize US monetary policy, it may need to consider a gentler rise in interest rates than it might otherwise have pursued, both to temper possible further strengthening of the dollar in response to higher interest rates and to help offset the demand compression from falling net export
Topic:
Economics, International Trade and Finance, Monetary Policy, and GDP
Political Geography:
United States and China

283. Stability Bonds for the Euro Area

Author:
Angel Ubide
Publication Date:
12-2015
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
The rules and buffers created in the last few years to enable the euro area to withstand another sudden stop of credit and market-driven panic in one or more of its member states are welcome steps, but they are widely recognized as inadequate. Ubide proposes creating a system of stability bonds in the euro area, to be issued by a new European Debt Agency, to partially finance the debt of euro area countries—up to 25 percent of GDP. These stability bonds should be initially backed by tax revenues transferred from national treasuries, but ultimately by the creation of euro area–wide tax revenues, and used to fund the operations of national governments. They could also be used for euro area–wide fiscal stimulus, to complement the fiscal policies of member states. Such bonds would strengthen the euro area economic infrastructure, creating incentives for countries to reduce their deficits but not forcing them to do so when such actions would drive their economies further into a downturn. The bonds would permit the euro area to adopt a more flexible or expansionary fiscal policy during recessions.
Topic:
Economics, International Trade and Finance, Monetary Policy, and GDP
Political Geography:
Europe

284. The 2015 Survey of Progress in International Economic Governance

Author:
Domenico Lombardi and Kesley Shantz
Publication Date:
11-2015
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
The annual CIGI Survey of Progress in International Economic Governance assesses progress in five areas of international economic governance: macroeconomic and financial cooperation; cooperation on financial regulation; cooperation on development; cooperation on trade; and cooperation on climate change.
Topic:
Climate Change, Economics, Financial Crisis, and Governance
Political Geography:
Global Focus

285. Ukraine and the IMF's Evolving Debt Crisis Narrative

Author:
Susan Schadler
Publication Date:
11-2015
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
This policy brief examines a number of poses key challenges in the evolution of a coherent role for the IMF in future crises.
Topic:
Economics, International Trade and Finance, and International Monetary Fund
Political Geography:
Ukraine

286. Growth, Innovation and Trade in Environmental Goods

Author:
Céline Bak
Publication Date:
10-2015
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
Reporting on global trade in environmental goods would provide a comprehensive lens into diversification that will be needed for the transition to low-carbon economies, help countries benchmark the shorter- and longer-term impact of policies such as regulation and fiscal stimulus targeted at green growth, as well as innovation, and strengthen the G20 leaders’ commitment to inclusive and sustainable growth by providing visibility into the pace of investments to address climate change.
Topic:
Climate Change, Economics, International Trade and Finance, and G20
Political Geography:
Global Focus

287. Global Sustainability, Climate Change and Finance Policy: A South African Perspective

Author:
Penelope Hawkins and Olaf Weber
Publication Date:
09-2015
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
One of the most important and topical discussions within the global multilateral arena is the challenge of meeting the world’s climate finance needs in order to reduce carbon emissions to sustainable levels and support adaptation strategies. The mobilization of finance is key in supporting the transition away from traditional high-carbon or business-as-usual economic pathways toward low-carbon, climate-resilient economic systems. A conference, Global Sustainability, Climate Change and Finance Policy, organized by the Centre for International Governance Innovation and the South African Institute for International Affairs and held in Johannesburg from July 1 to July 3, considered aspects of the debate.
Topic:
Climate Change, Economics, Environment, and International Trade and Finance
Political Geography:
Global Focus

288. Populist Movements: A Driving Force behind Recent Renationalization Trends

Author:
Jonathan Diab and Anna Klimbovskaia
Publication Date:
09-2015
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
Populist uprisings often call for the renationalization or buying back of public goods that were originally privatized as a result of austerity measures established and disseminated by the International Monetary Fund and the World Bank.
Topic:
Economics, International Monetary Fund, Financial Crisis, World Bank, and Popular Revolt
Political Geography:
Global Focus

289. Humanitarian Assistance and the Politics of Self-reliance: Uganda's Nakivale Refugee Settlement

Author:
Suzan Ilcan, Marcia Oliver, and Laura Connoy
Publication Date:
12-2015
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
Increasingly, refugees residing in refugee camps are living in protracted situations for which there are no quick remedies. Existing attempts to address protracted situations for refugees engage with the concept and practices of the Self-reliance Strategy (SRS). This paper focuses on the SRS in Uganda’s Nakivale Refugee Settlement. It draws attention to the strategy's disconnection from the social and economic relations within which refugees live in settlements, and its inability to provide refugees with sufficient access to social support and protection.
Topic:
Development, Economics, Humanitarian Aid, and Refugee Issues
Political Geography:
Uganda

290. Much Ado about Nothing? The RMB's Inclusion in the SDR Basket

Author:
Hongying Wang
Publication Date:
12-2015
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
The International Monetary Fund recently concluded its quinquennial review of the composition of the Special Drawing Right (SDR), accepting the Chinese currency into the SDR basket alongside four major international currencies — the US dollar, the euro, the British pound and the Japanese yen. The Chinese government has spent a great deal of energy and political capital to achieve this outcome. This policy paper explains China’s interest in this seemingly exotic and technical pursuit, identifying the political and economic motivations underlying this initiative.
Topic:
Economics, Politics, International Monetary Fund, and Monetary Policy
Political Geography:
China

291. In Search of a New Balance between Agricultural Trade and Development in the Euro-Mediterranean

Author:
Marko Lovec
Publication Date:
11-2015
Content Type:
Policy Brief
Institution:
IEMed/EuroMeSCo
Abstract:
The recent food security crisis has shed light on the importance of agricultural development in the South Mediterranean countries. An ‘urban bias’ and ‘trade liberalisation’ policies have resulted in growing dependence on imports, narrow specialisations and unsustainable production practices. The Euro-Mediterranean integration process has put trade liberalisation in the centre of attention, while the progress in agriculture has been limited. The purpose of this paper is to analyse the challenges faced by agro-food systems in Southern and Eastern Mediterranean Countries, with specific attention to the role of the Euro-Mediterranean integration and the reform of the Common Agricultural Policy. The paper also reviews relevant economic and environmental data in selected South and East Mediterranean countries.
Topic:
Security, Agriculture, Development, Economics, International Trade and Finance, and Food
Political Geography:
Europe

292. An Assessment of the Korea-China Free Trade Agreement

Author:
Jeffrey Schott, Euijin Jung, and Cathleen Cimino-Isaacs
Publication Date:
12-2015
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
Of all the free trade agreements (FTAs) concluded by Korea with its major trading partners since the turn of the century, the Korea-China FTA may be the largest in trade terms. It is, however, far from the best in terms of the depth of liberalization and the scope of obligations on trade and investment policies. Korea and China agreed to liberalize a large share of bilateral trade within 20 years, but both sides incorporated extensive exceptions to basic tariff reforms and deferred important market access negotiations on services and investment for several years. Political interests trumped economic objectives, and the negotiated outcome cut too many corners to achieve such a comprehensive result. The limited outcome in the Korea-China talks has two clear implications for economic integration among the northeast Asian countries. First, prospects for the ongoing China-Japan-Korea talks will be limited and unlikely to exceed the Korea-China outcome. Second, Korea and Japan need to strengthen their bilateral leg of the northeast Asian trilateral and the best way is by negotiating a deal in the context of the Trans-Pacific Partnership.
Topic:
Economics, International Trade and Finance, Markets, Treaties and Agreements, and Bilateral Relations
Political Geography:
Korea

293. The Future of Work for Low-Income Workers and Families

Author:
Vickie Choltz and Maureen Conway
Publication Date:
12-2015
Content Type:
Policy Brief
Institution:
Aspen Institute
Abstract:
The Future of Work for Low-Income Workers and Families is a policy brief aimed at state policy advocates and policymakers seeking to help low-income workers and their families secure healthy economic livelihoods as the nature of work evolves in the United States. Published by the Working Poor Families Project in December 2015, the brief was written by Vickie Choitz, associate director of the Economic Opportunities Program, with Maureen Conway, vice president at the Aspen Institute and executive director of the Economic Opportunities Program. This brief reviews the major forces shaping the future of work, including changes in labor and employment practices, business models, access to income and benefits, worker rights and voice, education and training, and technology. Across these areas, we are seeing disruptive change in our economy and society resulting in increasing risk and challenges for low-income workers, in particular.
Topic:
Security, Economics, Human Welfare, Social Stratification, and Employment
Political Geography:
United States

294. Reimagining Financial Security: Managing Risk and Building Wealth in an Era of Inequality

Author:
Annie Kim
Publication Date:
12-2015
Content Type:
Policy Brief
Institution:
Aspen Institute
Abstract:
The 2015 Financial Security Summit, titled Reimagining Financial Security: Managing Risk and Building Wealth in an Era of Inequality, took place July 15–17 in Aspen, Colorado. The Summit agenda built on FSP's core themes of expanding retirement security and children’s savings accounts for low- and moderate-income families, and began to explore a broader vision of how to improve short- and long-term dimensions of financial wellbeing in a rapidly changing economy. Participant contributions helped shape new areas of focus for FSP going forward. This report incorporates those insights and provides an outline for future policy dialogue and directions.
Topic:
Security, Economics, Human Welfare, Social Stratification, and Employment
Political Geography:
United States

295. The New Energy Innovation Economy

Author:
Dave Grossman, Roger Ballentine, and Andy Karsner
Publication Date:
12-2015
Content Type:
Policy Brief
Institution:
Aspen Institute
Abstract:
The 2015 Clean Energy Innovation Forum, “The New Energy Innovation Economy,” was co-chaired again this year by Roger Ballentine of Green Strategies and Andy Karsner of Manifest Energy. Topics discussed included the ongoing transformation of the energy user experience; distributed generation and disruption incumbent electricity business model; challenges in bridging the energy technology gap between development and adoption; and the impact of climate concerns on accelerating change.
Topic:
Climate Change, Economics, Energy Policy, Markets, and Science and Technology
Political Geography:
United States of America

296. The New Pricing Reality in Global Oil and Gas Markets

Author:
Dave Grossman, Claire Farley, and Bill White
Publication Date:
11-2015
Content Type:
Policy Brief
Institution:
Aspen Institute
Abstract:
The 2015 Forum on Global Energy Economy and Security, “The New Pricing Reality in Global Oil and Gas Markets,” was co-chaired by Claire Farley, Member at Kohlberg Kravis Roberts & Company, and Bill White, Senior Advisor and Chairman of Lazard Houston and former Mayor of Houston. Topics discussed included the current and future drivers of global supply and demand for petroleum; specific regional changes and challenges; the global LNG market and market penetration for natural gas; environmental challenges that may impact oil and gas development; and the effect of new technology and data changing planning and investment.
Topic:
Economics, Energy Policy, Environment, Oil, and Global Markets
Political Geography:
Global Focus

297. Transforming U.S. Workforce Development Policies for the 21st Century

Author:
Carl Van Horn, Tammy Edwards, and Todd Greene
Publication Date:
10-2015
Content Type:
Policy Brief
Institution:
Aspen Institute
Abstract:
Transforming U.S. Workforce Development Policies for the 21st Century explores how new policies and practice can meet the changing needs of workers, businesses and their communities. Produced in partnership by the Federal Reserve Banks of Atlanta and Kansas City, and the John J. Heldrich Center for Workforce Development at Rutgers University, this edited volume presents contributions from more than 65 leading scholars and practitioners engaged in workforce development. The book includes chapters co-written by two leaders at the Economic Opportunities Program.
Topic:
Economics, Human Welfare, Politics, Communications, and Employment
Political Geography:
United States of America

298. Lessons from Russia and the Future of Sanctions

Author:
Peter Harrell
Publication Date:
09-2015
Content Type:
Policy Brief
Institution:
Center for a New American Security (CNAS)
Abstract:
U.S. and European sanctions on Russia mark a significant evolution in the sanctions toolkit. Officials deployed novel types of financial and energy sanctions to create a regime that imposed significant costs on Russia while minimizing collateral impacts on the U.S. and European economies. The U.S. and European decision to create these new tools was driven by the need to take an innovative approach to sanctions against an economy twice the size of the combined gross domestic products (GDPs) of all other countries subject to significant U.S. economic sanctions and on Russian companies that play an important role in global markets. These developments, while tailored to Russia’s unique circumstances, hold important lessons for the future of sanctions policy.
Topic:
Foreign Policy, Cold War, Economics, International Trade and Finance, and Sanctions
Political Geography:
Russia

299. Economic Statecraft: American Economic Power and the New Face of Financial Warfare

Author:
Elizabeth Rosenberg and Zachary K. Goldman
Publication Date:
06-2015
Content Type:
Policy Brief
Institution:
Center for a New American Security (CNAS)
Abstract:
The United States has long relied on its economic power to protect and advance its interests abroad. In an increasingly integrated international financial system, the U.S. economy and capital markets remain the largest in the world by almost every measure. This status affords the United States an important global leadership position and the ability to shape foreign policy outcomes with economic tools. The structure of the international trade and financial system, in which many significant banking and energy transactions as well as currency reserves are denominated in U.S. dollars, reinforces the central role of the United States.
Topic:
Foreign Policy, Economics, Globalization, International Trade and Finance, Markets, and Power Politics
Political Geography:
United States

300. Made in Myanmar: Entrenched poverty or decent jobs for garment workers?

Author:
Daisy Gardener and Jasmine Burnley
Publication Date:
12-2015
Content Type:
Policy Brief
Abstract:
In Myanmar, the garment industry is booming thanks to an upsurge in investment by international brands, but garment workers are facing tough conditions. According to new research from Oxfam and labour rights groups in Myanmar, garment workers are working up to 11 hours a day, six days a week, but remain trapped in poverty. Following decades of economic isolation, political reforms have seen global retail heavyweights like GAP, H&M, Primark and Adidas starting to source from Myanmar factories. With the garment industry growing quickly, companies need to act now to ensure that workers making their products can access their fundamental rights and provide a decent living for themselves and their families. This briefing paper presents the research findings and makes recommendations for international sourcing companies and factories to help them protect garment workers’ rights.
Topic:
Economics, Human Welfare, Politics, Poverty, and Labor Issues
Political Geography:
Myanmar