Search

You searched for: Content Type Working Paper Remove constraint Content Type: Working Paper Political Geography Global Focus Remove constraint Political Geography: Global Focus Publication Year within 3 Years Remove constraint Publication Year: within 3 Years Topic International Trade and Finance Remove constraint Topic: International Trade and Finance
Number of results to display per page

Search Results

  • Author: Mayra Buvinic, Megan O'Donnell
  • Publication Date: 05-2017
  • Content Type: Working Paper
  • Institution: Center for Global Development
  • Abstract: A review of the recent evaluation evidence on financial services and training interventions questions their gender neutrality and suggests that some design features in these interventions can yield more positive economic outcomes for women than for men. These include features in savings and ‘Graduation’ programs that increase women’s economic self-reliance and self-control, and the practice of repeated micro borrowing that increases financial risk-taking and choice. ‘Smart’ design also includes high quality business management and jobs skills training, and stipends and other incentives in these training programs that address women’s additional time burdens and childcare demands. Peer support may also help to increase financial risk taking and confidence in business decisions, and may augment an otherwise negligible impact of financial literacy training. These features help women overcome gender-related constraints. However, when social norms are too restrictive, and women are prevented from doing any paid work, no design will be smart enough. Subjective economic empowerment appears to be an important intermediate outcome for women that should be promoted and more reliably and accurately measured. More research is also needed on de-biasing service provision, which can be gender biased; lastly, whenever possible, results should be sex-disaggregated and reported for individuals as well as households.
  • Topic: Gender Issues, International Trade and Finance, Global Political Economy
  • Political Geography: Global Focus
  • Author: Nancy Birdsall, Liliana Rojas-Suarez, Anna Diofasi
  • Publication Date: 02-2017
  • Content Type: Working Paper
  • Institution: Center for Global Development
  • Abstract: Despite increasing volatility in the global economy, the uptake of the IMF’s two precautionary credit lines, the Flexible Credit Line (FCL) and the Precautionary and Liquidity Line (PLL), has remained limited—currently to just four countries. The two new lending instruments were created in the wake of the global financial crisis of 2008 to enable IMF member states to respond quickly and effectively to temporary balance of payment needs resulting from external shocks. Both credit lines offer immediate access to considerable sums—over 10 times a country’s IMF quota in some cases with no (FCL) or very limited (PLL) conditionality. This paper addresses four misconceptions (or ‘myths’) that have likely played a role in the limited utilization of the two precautionary credit lines: 1) too stringent qualification criteria that limit country eligibility; 2) insufficient IMF resources; 3) high costs of precautionary borrowing; and 4) the economic stigma associated with IMF assistance. We show, in fact, that the pool of eligible member states is likely to be seven to eight times larger than the number of current users; that with the 2016 quota reform IMF resources are more than adequate to support a larger precautionary portfolio; that the two IMF credit lines are among the least costly and most advantageous instruments for liquidity support countries have; and that there is no evidence of negative market developments for countries now participating in the precautionary lines.
  • Topic: International Trade and Finance, Global Political Economy
  • Political Geography: Global Focus
  • Author: Nora Lustig
  • Publication Date: 01-2017
  • Content Type: Working Paper
  • Institution: Center for Global Development
  • Abstract: Current policy discussion focuses primarily on the power of fiscal policy to reduce inequality. Yet, comparable fiscal incidence analysis for 28 low and middle income countries reveals that, although fiscal systems are always equalizing, that is not always true for poverty. In Ethiopia, Tanzania, Ghana, Nicaragua, and Guatemala the extreme poverty headcount ratio is higher after taxes and transfers (excluding in-kind transfers) than before. In addition, to varying degrees, in all countries a portion of the poor are net payers into the fiscal system and are thus impoverished by the fiscal system. Consumption taxes are the main culprits of fiscally-induced impoverishment. Net direct taxes are always equalizing and indirect taxes net of subsidies are equalizing in nineteen countries of the 28. While spending on pre-school and primary school is pro-poor (i.e., the per capita transfer declines with income) in almost all countries, pro-poor secondary school spending is less prevalent, and tertiary education spending tends to be progressive only in relative terms (i.e., equalizing but not pro-poor). Health spending is always equalizing but not always pro-poor. More unequal countries devote more resources to redistributive spending and appear to redistribute more. The latter, however, is not a robust result across specifications.
  • Topic: International Trade and Finance, Global Political Economy
  • Political Geography: Global Focus
  • Author: Ali Enami, Nora Lustig, Rodrigo Aranda
  • Publication Date: 01-2017
  • Content Type: Working Paper
  • Institution: Center for Global Development
  • Abstract: This paper provides a theoretical foundation for analyzing the redistributive effect of taxes and transfers for the case in which the ranking of individuals by pre-fiscal income remains unchanged. We show that in a world with more than a single fiscal instrument, the simple rule that progressive taxes or transfers are always equalizing not necessarily holds, and offer alternative rules that survive a theoretical scrutiny. In particular, we show that the sign of the marginal contribution unambiguously predicts whether a tax or a transfer is equalizing or not.
  • Topic: International Political Economy, International Trade and Finance
  • Political Geography: Global Focus
  • Author: Alexandr Lagazzi, Michal Vít
  • Publication Date: 10-2017
  • Content Type: Working Paper
  • Institution: Europeum Institute for European Policy
  • Abstract: With the past export-led economic growth that has gradually become a tool of Chinese soft power, China showcased globally a powerful and inviting policy of economic power in action, and investment-seeking countries (especially from the Western Balkans) are willing to show their eagerness towards Chinese loans and capital. On the reverse side, China presents itself as an equally eager investor, and can be counted on in all situations, including when Chinese investors picked up projects declined by the EU.
  • Topic: International Trade and Finance
  • Political Geography: Global Focus
  • Publication Date: 11-2017
  • Content Type: Working Paper
  • Institution: Centre for East European Studies, University of Warsaw
  • Abstract: Every year the World Association of Investment Promotion Agencies (WAIPA) surveys its members. This survey, conducted in 2017, polled over 90 agencies on numerous aspect
  • Topic: International Political Economy, International Trade and Finance
  • Political Geography: Global Focus
  • Author: Bertrand de la Chapelle, Paul Fehlinger
  • Publication Date: 04-2016
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The past 20 years have witnessed a profound change in the types of non-resident investors who provide funding to emerging market economies (EMEs) and the financial instruments through which emerging market (EM) corporations borrow from abroad. Until the beginning of the new millennium, private capital flows to EMEs were mainly intermediated by large global banks, and EMEs were subjected to massive volatility in their external payments balances, exchange rates and domestic financial systems. But since the early 2000s the role of bank-intermediated credit has declined, as the base of investors willing to take on exposure to EM corporate debt has become much larger and more diverse. These structural changes have encouraged a vast growth in flows of funds, not only from the mature economies to EMEs as a group, but also among EMEs themselves.
  • Topic: Debt, Economics, Emerging Markets, International Trade and Finance, Financial Crisis
  • Political Geography: Global Focus
  • Author: John Whalley, Daqing Yao
  • Publication Date: 03-2016
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The effects of the termination of the Multifibre Arrangement (MFA) on the trade of clothing and textiles are assessed in this paper, based on world trade date and US trade data. The findings from the data analyzed indicate that the effects of the termination of the MFA on the clothing trade was more significant for clothing than for the textiles trade. With the end of the MFA, the freer trade in these sectors shed light on other sectors that are still protected under trade agreements.
  • Topic: International Trade and Finance, Markets, Treaties and Agreements, Regulation
  • Political Geography: Global Focus
  • Publication Date: 02-2016
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This paper analyzes the impact of four major financial sector sustainability codes of conduct, the UN Environmental Programme Finance Initiative, the UN Principles for Responsible Investment, the Equator Principles and the Global Alliance for Banking on Values with regard to their impact on the sustainability of their members. The codes of conduct focus on the integration of environmental, social and governance criteria into financial decision making in lending, investment, asset management and project finance. corporate sustainability voluntary codes of conduct have a positive impact on their members. The effectiveness, however, depends on the quality and content of a code, as well as on implementation and compliance mechanisms.
  • Topic: Economics, International Trade and Finance, Markets, United Nations, Ethics
  • Political Geography: Global Focus
  • Author: Luke Patey, Michal Meidan
  • Publication Date: 11-2016
  • Content Type: Working Paper
  • Institution: Danish Institute for International Studies
  • Abstract: The size and sophistication of Chinese foreign investment is on the rise. In 2014, inbound investment to China was outpaced by outbound investment for the first time. Chinese foreign investment has surpassed the $100 billion mark for the past three years, making China the third largest overseas investor. At the same time, beyond oil and gas, which dominated headlines over the past decade, Chinese state-owned enterprises and private corporations are making multi-billion dollar investments in construction, telecommunications, nuclear, and high-tech across the globe. What political and security implications do these new investment have for host government in North America and Europe? What is the view point of Beijing towards the growing reach of its corporations overseas? A new policy brief by Michal Meidan, research associate at Chatham House and Asia Analyst at Energy Aspects, and DIIS senior researcher Luke Patey explores these questions.
  • Topic: Globalization, International Political Economy, International Trade and Finance
  • Political Geography: China, Global Focus