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32. Tipping the Scale: An Analysis of Global Swing States in the Internet Governance Debate
- Author:
- Tim Maurer and Robert Morgus
- Publication Date:
- 05-2014
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- In December 2012, numerous news outlets reported on the debate over Internet governance that took place at the World Conference on International Telecommunications (WCIT) in Dubai. It was the first time in nearly a decade that the topic attracted major international media attention. The conference ended in a diplomatic éclat with 89 states signing the new International Telecommunications Regulations (ITRs) and 55 publicly opposing them.
- Topic:
- International Relations, International Cooperation, Science and Technology, Bilateral Relations, and Governance
- Political Geography:
- Arabia
33. Sovereign Debt Crisis Management: Lessons from the 2012 Greek Debt Restructuring
- Author:
- Miranda Xafa
- Publication Date:
- 06-2014
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- The 2012 Greek debt exchange was a watershed event in the euro area debt crisis. It generated fears of contagion and was viewed as a threat to the euro itself. Although it achieved historically unprecedented debt relief, amounting to €106 billion (55 percent of GDP), it was “too little, too late” in terms of restoring Greece's debt sustainability. There is a heated debate as to whether the debt restructuring should have taken place sooner, when Greece's adjustment program was agreed to in May 2010. This paper argues that a deep haircut up front, under threat of legislative action, would have been seen as unnecessary and deeply coercive. But delaying the restructuring beyond mid-2011, when it became clear that Greece's debt was unsustainable, was unjustified. The delay reduced the stock of privately held debt subject to a haircut, possibly making an official debt restructuring inevitable down the road. Initial fears that the Greek debt restructuring would pose a serious threat to the euro area's financial stability proved to be exaggerated. On the contrary, it demonstrated that an orderly default involving a pre-emptive debt restructuring is possible in a monetary union, provided appropriate firewalls are in place to limit contagion risks. With crisis management institutions and procedures now in place in the euro area, and with much stricter fiscal surveillance, the Greek experience is likely to remain unique in the history of debt restructurings; however, some lessons can be learned from its specific features.
- Topic:
- Debt and Governance
- Political Geography:
- Europe and Greece
34. The African Union and the Post-2015 Development Agenda
- Author:
- Barry Carin
- Publication Date:
- 07-2014
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- African countries are currently engaged at the United Nations (UN) to determine the post-2015 framework to succeed the Millennium Development Goals (MDGs). The post-2015 goals matter because they will guide the priorities of UN agencies, the multilateral development banks, bilateral development assistance and civil society organizations. It is in Africa's interests to ensure the post-2015 framework is congruent with African priorities. African Union negotiators must take a strategic approach in the current process to select the post-2015 development goals.
- Topic:
- Development, Governance, and Reform
- Political Geography:
- Africa and United Nations
35. Facing West, Facing North: Canada and Australia in East Asia
- Author:
- Leonard Edwards and Peter Jennings
- Publication Date:
- 02-2014
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- Canada and Australia have shared interests in bolstering economic prosperity and security cooperation across East Asia. The focus of the world economy has shifted to Asia; Canada should follow the path Australia has taken for decades and orient itself — in economic and security terms — toward the emerging economies of East Asia. The risk of regional instability is growing, however, due to China's re-emergence, continued speculation about US strategic engagement in Asia and increased competition over disputed maritime boundaries. These developments provide opportunities for collaboration between countries like Canada and Australia. Non-traditional security threats, including natural disasters, climate change, food security and cyber security, point to a range of areas where the two countries can work more closely together.
- Topic:
- Security, Diplomacy, Economics, International Trade and Finance, Bilateral Relations, and Governance
- Political Geography:
- America, Canada, and Australia
36. Reforming Finance: Macro and Micro Perspectives
- Author:
- Pierre Siklos
- Publication Date:
- 02-2014
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- Reforms of the financial system in the wake of the global financial crisis are incomplete. Beyond reforms, good judgment is essential in a crisis. Short-termism in finance cannot be completely controlled by regulation and supervision. Financial crises are inevitable but need not be as virulent at the global financial crisis. Central banks will have to rethink their policies and how they interact with other agencies partially responsible for maintaining financial system stability.
- Topic:
- Economics, Globalization, International Trade and Finance, Financial Crisis, Governance, and Reform
- Political Geography:
- Europe
37. Promoting the International Use of Emerging Country Currencies: The Case of Local Currency Debt Issuance for Latin America and the Caribbean
- Author:
- Andrew Powell
- Publication Date:
- 01-2014
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- There are many dimensions to the international use of a nation's currency. These include the use of a currency for trade invoicing and settlement, the use of a currency to denominate assets to be held as a store of value, for example, as central bank reserves, and the use of a currency to denominate liabilities such as loans or bonds.
- Topic:
- Debt, Economics, and Governance
- Political Geography:
- Latin America and Caribbean
38. Boxing with Elephants: Can Canada Punch above Its Weight in Global Financial Governance?
- Author:
- James M. Boughton
- Publication Date:
- 03-2014
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- Canadians have long harboured a desire to "punch above their weight" in international diplomacy, an aspiration justified by Canada's position in the world both geographically and culturally. This paper examines one aspect of that effort: Canada's role in international financial governance, particularly within the International Monetary Fund. The key issue for the future is whether Canada will continue to have the capacity and the will to take leading positions and actions in the face of increasing competition from the rapidly growing emerging market countries.
- Topic:
- Economics, Emerging Markets, International Trade and Finance, International Monetary Fund, and Governance
- Political Geography:
- United States and Canada
39. Institutional Arrangements for Climate Finance
- Author:
- David Runnalls, Jessica Boyle, and Dave Sawyer
- Publication Date:
- 03-2014
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- The most recent report of the Intergovernmental Panel on Climate Change(IPCC) is unequivocal about the magnitude of the challenge posed by man-made climate change. If the world is to avoid exceeding the 2°C average increase in temperature agreed by governments in Copenhagen as the maximum safe level, it needs to move quickly to facilitate the transition to a lower-carbon economy.
- Topic:
- Climate Change, Economics, International Cooperation, and Governance
- Political Geography:
- United Nations
40. Internet Points of Control as Global Governance
- Author:
- Laura DeNardis
- Publication Date:
- 08-2013
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- The distributed nature of Internet infrastructure and relatively malleable user engagement with content can misleadingly create the impression that the Internet is not governed. When Internet governance does rise to media or public prominence, this usually involves high-profile controversies such as the Egyptian government cutting off citizen Internet access or government-delegated censorship requests for Google to delete politically sensitive content. These are examples of Internet content governance via infrastructure. But beneath this layer of content, at much more technologically concealed layers, coordinated and sometimes centralized governance of the Internet's technical architecture is necessary to keep the network operational, secure and universally accessible. This governance is enacted not necessarily through traditional nation-state authority but via the design of technical architecture, the policies enacted by private industry and administration by new global institutions. While these coordinating functions perform highly specialized technical tasks, they also have significant economic and political implications.
- Topic:
- Security, Science and Technology, Sovereignty, and Governance
- Political Geography:
- Egypt