Search

You searched for: Content Type Working Paper Remove constraint Content Type: Working Paper Publishing Institution Istituto Affari Internazionali Remove constraint Publishing Institution: Istituto Affari Internazionali Political Geography Global Focus Remove constraint Political Geography: Global Focus Publication Year within 3 Years Remove constraint Publication Year: within 3 Years Publication Year within 25 Years Remove constraint Publication Year: within 25 Years Topic International Affairs Remove constraint Topic: International Affairs
Number of results to display per page

Search Results

  • Author: C. Fred Bergsten, Edwin M. Truman, Jeromin Zettelmeyer
  • Publication Date: 04-2017
  • Content Type: Working Paper
  • Institution: Istituto Affari Internazionali
  • Abstract: This paper examines how G7 cooperation can be maintained in the Trump era. Its working assumption is that the US administration will remain open to international cooperation in principle and yet be constrained by Trump’s economic nationalism and specific campaign promises, such as reducing trade imbalances. The main finding is that useful areas for G7 macroeconomic, trade and financial cooperation continue to exist even after taking US constraints into account. At the same time, other G7 leaders need to be prepared to proceed on their own if attempts to convince the US administration that G7 economic cooperation is in the interests of all members fail. Paper presented at the international conference on “Major Challenges for Global Macroeconomic Stability. The Role of the G7”, organized in Rome on 27-28 March 2017 by the Istituto Affari Internazionali (IAI) with the support of the Italian Ministry of Foreign Affairs and International Cooperation and the Bank of Italy.
  • Topic: International Cooperation, International Security, International Affairs
  • Political Geography: Global Focus
  • Author: Malcolm D. Knight
  • Publication Date: 04-2017
  • Content Type: Working Paper
  • Institution: Istituto Affari Internazionali
  • Abstract: This paper is premised on the fact that the most important macroeconomic policy issue confronting global leaders at this time is the need to restore, modernize and expand the international network of basic infrastructure that underpins global economic activity. This would help foster stronger long-term productivity growth and per capita output. This paper first outlines key policy elements that are needed within each country to design and implement a successful National Infrastructure Investment Programme (NIIP). It then describes how these NIIPs could be integrated into an Internationally Coordinated Infrastructure Investment Programme (iCIIP), and the complementary roles that the G7 and G20 summit leaders could play in carrying out this vast programme of infrastructure renewal and expansion. The G7, as a tightly knit group of advanced countries, can be instrumental in giving a clear impetus to key elements of the iCIIP strategy. The G20 instead is the appropriate body to set the course of modernization and expansion of a renewed, internationally-integrated network of basic productive infrastructure, and to guide the iCIIP as it is implemented over the next decade.
  • Topic: International Relations, International Cooperation, International Affairs
  • Political Geography: Global Focus
  • Author: Rolf Langhammer
  • Publication Date: 04-2017
  • Content Type: Working Paper
  • Institution: Istituto Affari Internazionali
  • Abstract: While Germany continues to defend an open trading system it is not prepared to play a proactive role in pushing for liberalization of global trade. Preventing further disintegration in Europe has a higher priority for the German government than further integration in the world economy. Such priority does not only match with widespread skepticism in the German electorate on the gains from globalization. It also complies with an implicit understanding in the government that further globalization should be subject to stricter public surveillance. On nancial stability, German authorities emphasize the need to minimize the role of taxpayers in future bail-outs and giving regulators the power to force troubled banks to restructure or liquidate. Germany is also keen for the imposition of a nancial transactions tax at the global level. On macroeconomic policy, the increased reliance on domestic demand to spur growth in Germany will contribute towards global rebalancing. Given its scal space, boosting Germany’s public investment could be part of a collective e ort to address global demand weakness while addressing long-term growth challenges through structural reforms.
  • Topic: International Cooperation, International Affairs
  • Political Geography: Global Focus
  • Author: Stephen Pickford, Paola Subacchi
  • Publication Date: 04-2017
  • Content Type: Working Paper
  • Institution: Istituto Affari Internazionali
  • Abstract: Most G7 countries are facing political and economic uncertainties, and long-standing structural problems.The short-term outlook is reasonably positive, but longer term prospects are more challenging. These challenges have underlying economic causes stretching back many years, fostered by low productivity growth, stagnating real incomes and living standards, rising inequality and technological change. G7 countries should address short-term weaknesses, reduce political and policy uncertainties, and tackle these longer-term problems as well. Acting together to address these challenges will be more effective: (1) short-term and medium-term measures to boost growth should focus on fiscal actions (including infrastructure spending), normalizing monetary policy, completing financial regulatory reforms, and structural policies; (2) tackling policy uncertainties requires international consensus on consistent policies, starting with greater certainty over the direction of trade policy and over the Brexit negotiations. Sending positive signals on trade cooperation will be difficult, but the G7 could make progress on some specific issues such as a code of practice against competitive exchange rate devaluations; (3) an agenda to emphasize fairness could include: fair trading arrangements, implications of financial regulation for fairness and agreement on international corporate taxation to ensure companies pay their fair share of taxes.
  • Topic: International Relations, International Security, International Affairs
  • Political Geography: Global Focus