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  • Author: Trevon Logan, Peter Temin
  • Publication Date: 01-2020
  • Content Type: Working Paper
  • Institution: Institute for New Economic Thinking (INET)
  • Abstract: This paper records the path by which African Americans were transformed from enslaved persons in the American economy to partial participants in the progress of the economy. The path was not monotonic, and we organize our tale by periods in which inclusiveness rose and fell. The history we recount demonstrates the staying power of the myth of black inferiority held by a changing white majority as the economy expanded dramatically. Slavery was outlawed after the Civil War, and blacks began to participate in American politics en masse for the first time during Reconstruction. This process met with white resistance, and black inclusion in the growing economy fell as the Gilded Age followed and white political will for black political participation faded. The Second World War also was followed by prosperity in which blacks were included more fully into the white economy, but still not completely. The Civil Rights Movement proved no more durable than Reconstruction, and blacks lost ground as the 20th century ended in the growth of a New Gilded Age. Resources that could be used to improve the welfare of whites and blacks continue to be spent on the continued repressions of blacks.
  • Topic: Economics, Race, History, Capitalism, Slavery
  • Political Geography: United States, Global Focus
  • Author: You Young Kim
  • Publication Date: 03-2019
  • Content Type: Working Paper
  • Institution: Carnegie Council
  • Abstract: Hearing my grandfather state, "I'm forever grateful to Kim Il-sung," baffled me. His words of gratitude to the first supreme leader and the eternal president of North Korea did not match his heartbreaking tale of defecting to the South during the Korean War. Recalling his stories of hiding in the mountains and his relatives trapped in the isolated dictatorial communist state, I couldn't fathom being grateful for a man who pushed my grandfather to make such a difficult choice when he was only a few years older than I am now.
  • Topic: International Affairs, Democracy
  • Political Geography: Global Focus
  • Author: David Deming
  • Publication Date: 08-2019
  • Content Type: Working Paper
  • Institution: The John F. Kennedy School of Government at Harvard University
  • Abstract: Science, Technology, Engineering, and Math (STEM) jobs are a key contributor to economic growth and national competitiveness. Yet STEM workers are perceived to be in short supply. This paper shows that the “STEM shortage” phenomenon is explained by technological change, which introduces new job skills and makes old ones obsolete. We find that the initially high economic return to applied STEM degrees declines by more than 50 percent in the first decade of working life. This coincides with a rapid exit of college graduates from STEM occupations. Using detailed job vacancy data, we show that STEM jobs change especially quickly over time, leading to flatter age-earnings profiles as the skills of older cohorts became obsolete. Our findings highlight the importance of technology-specific skills in explaining life-cycle returns to education, and show that STEM jobs are the leading edge of technology diffusion in the labor market.
  • Topic: International Organization, International Political Economy, Science and Technology, Labor Issues
  • Political Geography: Global Focus
  • Author: John Gerard Ruggie
  • Publication Date: 08-2019
  • Content Type: Working Paper
  • Institution: The John F. Kennedy School of Government at Harvard University
  • Abstract: On August 19, 2019, the U.S. Business Roundtable (BR), comprising the CEOs of more than 200 of America’s largest corporations, issued a new mission statement on “the purpose of a corporation” (BR, 2019a). The press release noted that each periodic update on principles of corporate governance since 1997 had endorsed the principle of maximizing shareholder value. In contrast, the new statement commits signatory CEOs “to lead their companies for the benefit of all stakeholders – customers, employees, suppliers, communities and shareholders” (BR, 2019b). “[Milton] Friedman must be turning in his grave,” a Fortune magazine article declared (Murray, 2019)
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Richard Zeckhauser
  • Publication Date: 09-2019
  • Content Type: Working Paper
  • Institution: The John F. Kennedy School of Government at Harvard University
  • Abstract: This paper argues that historical analysis, necessarily written with hindsight, often underestimates the uncertainties of the past. We call this tendency explanation bias. This bias leads individuals – including professional historians – to imply greater certainty in causal analyses than the evidence justifies. Their analyses will treat what is plausible to be probable. We offer a few intuitions about why explanation bias exists, its relation to other well-established psychological biases, what it leads to, and how it might be combatted. Appreciating the depth of uncertainty and ignorance in our world is critical for accurately understanding, interpreting, and drawing from the past to illuminate the present and the near future
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Will Dobbie
  • Publication Date: 08-2019
  • Content Type: Working Paper
  • Institution: The John F. Kennedy School of Government at Harvard University
  • Abstract: We study the drivers of financial distress using a large-scale field experiment that offered randomly selected borrowers a combination of (i) immediate payment reductions to target short- run liquidity constraints and (ii) delayed interest write-downs to target long-run debt constraints. We identify the separate e?ects of the payment reductions and interest write-downs using both the experiment and cross-sectional variation in treatment intensity. We find that the interest write-downs significantly improved both financial and labor market outcomes, despite not taking effect for three to five years. In sharp contrast, there were no positive e?ects of the more immediate payment reductions. These results run counter to the widespread view that financial distress is largely the result of short-run constraints.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Will Dobbie
  • Publication Date: 09-2019
  • Content Type: Working Paper
  • Institution: The John F. Kennedy School of Government at Harvard University
  • Abstract: We estimate the causal effects of parental incarceration on children’s short- and long-run outcomes using administrative data from Sweden. Our empirical strategy exploits exogenous variation in parental incarceration from the random assignment of criminal defendants to judges with different incarceration tendencies. We find that the incarceration of a parent in childhood leads to a significant increase in teen crime and significant decreases in educational attainment and adult employment. The effects are concentrated among children from the most disadvantaged families, where criminal convictions increase by 10 percentage points, high school graduation decreases by 25 percentage points, and employment at age 25 decreases by 29 percentage points. In contrast, there are no detectable effects among children from more advantaged families. These results suggest that the incarceration of parents with young children may significantly increase the intergenerational persistence of poverty and criminal behavior, even in affluent countries with extensive social safety nets.
  • Topic: International Political Economy, International Affairs, Prisons/Penal Systems
  • Political Geography: Global Focus
  • Author: Will Dobbie
  • Publication Date: 10-2019
  • Content Type: Working Paper
  • Institution: The John F. Kennedy School of Government at Harvard University
  • Abstract: This paper tests for bias in consumer lending using administrative data from a high-cost lender in the United Kingdom. We motivate our analysis using a new principal-agent model of bias, which predicts that profits should be higher for the most illiquid loan applicants at the margin if loan examiners are biased. We identify the profitability of marginal applicants using the quasi-random assignment of loan examiners. Consistent with our model, we find significant bias against immigrant and older applicants when using the firm’s preferred measure of long-run profits, but not when using the short-run measure used to evaluate examiner performance. Keywords: Discrimination, Consumer Credit
  • Topic: Debt, International Political Economy, International Affairs
  • Political Geography: Global Focus
  • Author: Todd Rogers
  • Publication Date: 09-2019
  • Content Type: Working Paper
  • Institution: The John F. Kennedy School of Government at Harvard University
  • Abstract: Many states mandate districts or schools notify parents when students have missed multiple unexcused days of school. We report a randomized experiment (N = 131,312) evaluating the impact of sending parents truancy notifications modified to target behavioral barriers that can hinder effective parental engagement. Modified truancy notifications that used simplified language, emphasized parental efficacy, and highlighted the negative incremental effects of missing school reduced absences by 0.07 days compared to the standard, legalistic, and punitively-worded notification—an estimated 40% improvement. This work illustrates how behavioral insights and randomized experiments can be used to improve administrative communications in education.
  • Topic: International Relations, International Affairs
  • Political Geography: Global Focus
  • Author: Timothy Besley, Anders Jensen, Torsten Persson
  • Publication Date: 09-2019
  • Content Type: Working Paper
  • Institution: The John F. Kennedy School of Government at Harvard University
  • Abstract: This paper studies individual and social motives in tax evasion. We build a simple dynamic model that incorporates these motives and their interaction. The social motives underpin the role of norms and is the source of the dynamics that we study. Our empirical analysis exploits the adoption in 1990 of a poll tax to fund local government in the UK, which led to widespread evasion. The evidence is consistent with the model’s main predictions on the dynamics of evasion.
  • Topic: Political Economy, Economy, Financial Crimes, Tax Systems
  • Political Geography: United Kingdom, Europe, Global Focus
  • Author: Mark H. Moore
  • Publication Date: 08-2019
  • Content Type: Working Paper
  • Institution: The John F. Kennedy School of Government at Harvard University
  • Abstract: This is one of a series of working papers from “RISE"—the large-scale education systems research programme supported by the UK’s Department for International Development (DFID), Australia’s Department of Foreign Affairs and Trade (DFAT), and the Bill and Melinda Gates Foundation.
  • Topic: Development, Education, Governance, Developing World
  • Political Geography: Global Focus
  • Author: Dani Rodrik
  • Publication Date: 08-2019
  • Content Type: Working Paper
  • Institution: The John F. Kennedy School of Government at Harvard University
  • Abstract: In a world economy that is highly integrated, most policies produce effects across the border. This is often believed to be an argument for greater global governance, but the logic requires scrutiny. There remains strong revealed demand for policy and institutional diversity among nations, rooted in differences in historical, cultural, or development trajectories. The canonical case for global governance is based on two set of circumstances. The first occurs when there is global public good (GPG) and the second under “beggar-thy-neighbor” (BTN) policies. However, the world economy is not a global commons, and virtually no economic policy has the nature of a global public good (or bad). And while there are some important BTN policies, much of our current discussions deal with policies that are not true BTNs. The policy failures that exist arise not from weaknesses of global governance, but from distortions of domestic governance. As a general rule, these domestic failures cannot be fixed through international agreements or multilateral cooperation. The paper closes by discussing an alternative model of global governance called “democracy-enhancing global governance.”
  • Topic: International Trade and Finance, Governance, Global Political Economy, Trade Wars
  • Political Geography: Global Focus, Global Markets
  • Author: Eduardo Levy Yeyati, Martin Montane, Luca Sartorio
  • Publication Date: 07-2019
  • Content Type: Working Paper
  • Institution: The John F. Kennedy School of Government at Harvard University
  • Abstract: The past 5 years have witnessed a flurry of RCT evaluations that shed new light on the impact and cost effectiveness of Active Labor Market Policies (ALMPs) aiming to improve workers´ access to new jobs and better wages. We report the first systematic review of 102 RCT interventions comprising a total of 652 estimated impacts. We find that (i) a third of these estimates are positive and statistically significant (PPS) at conventional levels; (ii) programs are more likely to yield positive results when GDP growth is higher and unemployment lower; (iii) programs aimed at building human capital, such as vocational training, independent worker assistance and wage subsidies, show significant positive impact, and (iv) program length, monetary incentives, individualized follow up and activity targeting are all key features in determining the effectiveness of the interventions.
  • Topic: Vocational Training, Labor Policies, Wage Subsidies, Randomized Controlled Trials
  • Political Geography: Global Focus, United States of America
  • Author: Michael Woolcock
  • Publication Date: 06-2019
  • Content Type: Working Paper
  • Institution: The John F. Kennedy School of Government at Harvard University
  • Abstract: Many development agencies and governments now seek to engage directly with local communities, whether as a means to the realization of more familiar goals (infrastructure, healthcare, education) or as an end in itself (promoting greater inclusion, participation, well-being). These same agencies and governments, however, are also under increasing pressure to formally demonstrate that their actions ‘work’ and achieve their goals within relatively short timeframes – expectations which are, for the most part, necessary and desirable. But adequately assessing ‘community-driven’ approaches to development requires the deployment of theory and methods that accommodate their distinctive characteristics: building bridges is a qualitatively different task to building the rule of law and empowering minorities. Moreover, the ‘lessons’ inferred from average treatment effects derived from even the most rigorous assessments of community-driven interventions are likely to translate poorly to different contexts and scales of operation. Some guidance for anticipating and managing these conundrums are provided.
  • Topic: Development, Government, Infrastructure, International Development
  • Political Geography: Global Focus, United States of America
  • Author: Eduardo Levy Yeyati, Eduardo Gómez
  • Publication Date: 05-2019
  • Content Type: Working Paper
  • Institution: The John F. Kennedy School of Government at Harvard University
  • Abstract: Recent studies that have emphasized the costs of accumulating reserves for self-insurance purposes have overlooked two potentially important side-effects. First, the impact of the resulting lower spreads on the service costs of the stock of sovereign debt, which could substantially reduce the marginal cost of holding reserves. Second, when reserve accumulation reflects countercyclical LAW central bank interventions, the actual cost of reserves should be measured as the sum of valuation effects due to exchange rate changes and the local-to-foreign currency exchange rate differential (the inverse of a carry trade profit and loss total return flow), which yields a cost that is typically smaller than the one arising from traditional estimates based on the sovereign credit risk spreads. We document those effects empirically to illustrate that the cost of holding reserves may have been considerably smaller than usually assumed in both the academic literature and the policy debate.
  • Topic: Financial Crisis, Exchange Rate Policy, International Reserves, Capital Flows
  • Political Geography: Global Focus, United States of America
  • Author: Nathan Converse, Eduardo Levy Yeyati, Tomas Williams
  • Publication Date: 05-2019
  • Content Type: Working Paper
  • Institution: The John F. Kennedy School of Government at Harvard University
  • Abstract: Since the early 2000s exchange-traded funds (ETFs) have grown to become an important in- vestment vehicle worldwide. In this paper, we study how their growth affects the sensitivity of international capital flows to the global financial cycle. We combine comprehensive fund- level data on investor flows with a novel identification strategy that controls for unobservable time-varying economic conditions at the investment destination. For dedicated emerging mar- ket funds, we find that the sensitivity of investor flows to global financial conditions for equity (bond) ETFs is 2.5 (2.25) times higher than for equity (bond) mutual funds. In turn, we show that in countries where ETFs hold a larger share of financial assets, total cross-border equity flows and prices are significantly more sensitive to global financial conditions. We conclude that the growing role of ETFs as a channel for international capital flows amplifies the global financial cycle in emerging markets.
  • Topic: Emerging Markets, International Trade and Finance, Global Political Economy, Capital Flows, Mutual Funds
  • Political Geography: Global Focus, Global Markets
  • Author: Eduardo Fernández-Arias, Ricardo Hausmann, Ugo Panizza
  • Publication Date: 04-2019
  • Content Type: Working Paper
  • Institution: The John F. Kennedy School of Government at Harvard University
  • Abstract: The conventional paradigm about development banks is that these institutions exist to target well-identified market failures. However, market failures are not directly observable and can only be ascertained with a suitable learning process. Hence, the question is how do the policymakers know what activities should be promoted, how do they learn about the obstacles to the creation of new activities? Rather than assuming that the government has arrived at the right list of market failures and uses development banks to close some well-identified market gaps, we suggest that development banks can be in charge of identifying these market failures through their loan-screening and lending activities to guide their operations and provide critical inputs for the design of productive development policies. In fact, they can also identify government failures that stand in the way of development and call for needed public inputs. This intelligence role of development banks is similar to the role that modern theories of financial intermediation assign to banks as institutions with a comparative advantage in producing and processing information. However, while private banks focus on information on private returns, development banks would potentially produce and organize information about social returns.
  • Topic: Development, Industrial Policy, Markets, Banks
  • Political Geography: Global Focus, Global Markets
  • Author: Michael Woolcock
  • Publication Date: 03-2019
  • Content Type: Working Paper
  • Institution: The John F. Kennedy School of Government at Harvard University
  • Abstract: Evaluations of development projects are conducted to assess their net effectiveness and, by extension, to guide decisions regarding the merits of scaling-up successful projects and/or replicating them elsewhere. The key characteristics of ‘complex’ interventions – numerous face- to-face interactions, high discretion, imposed obligations, pervasive unknowns – rarely fit neatly into standard evaluation protocols, requiring the deployment of a wider array of research methods, tools and theory. The careful use of such ‘mixed methods’ approaches is especially important for discerning the conditions under which ‘successful’ projects of all kinds might be expanded or adopted elsewhere. These claims, and the practical implications to which they give rise, draw on an array of recent evaluations in different sectors in development.
  • Topic: International Development, Humanitarian Intervention, Public Policy
  • Political Geography: Global Focus
  • Publication Date: 06-2019
  • Content Type: Working Paper
  • Institution: Center on International Cooperation
  • Abstract: Beneficial owners are defined as those who are the natural persons who ultimately own/control a customer and/or the natural persons on whose behalf a transaction is being conducted. It also includes those persons who exercise ultimate control over a legal person or arrangement. The availability of this information is a key requirement of international tax transparency and the fight against financial crime.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Lasha Giorgidze, James K. Wither
  • Publication Date: 12-2019
  • Content Type: Working Paper
  • Institution: George C. Marshall European Center for Security Studies
  • Abstract: Chemical, biological, radiological and nuclear (CBRN) materials attract the attention of terrorists motivated to inflict mass casualties and create mass panic. CBRN includes a wide array of materials, some of them very difficult to acquire, although others are of a dual-use nature. Dualuse materials can be used to construct CBRN weapons, but also have licit civilian applications. Though not all CBRN weapons are weapons of mass destruction, they can still cause massive disruption and fear in a targeted society. The goal of this paper is to evaluate the potential threat from terrorists’ use of CBRN weapons. It discusses the technical opportunities and constraints of each type of weapon and presents relevant historical and contemporary examples and case studies involving terrorist use of CBRN. The paper also assesses the contemporary threat. It examines how CBRN-related information is shared via terrorist propaganda on the internet and messaging applications, why terrorists might be motivated to use CBRN materials, and the constraints on their ambitions.
  • Topic: Nuclear Weapons, Terrorism, Internet, Biological Weapons , Chemical Weapons, Radiological Weapons
  • Political Geography: Global Focus
  • Author: Tim Maurer, Wyatt Hoffman
  • Publication Date: 01-2019
  • Content Type: Working Paper
  • Institution: Geneva Centre for Security Sector Governance (DCAF)
  • Abstract: This paper seeks to identify the emerging and expanding gaps in the governance of private cybersecurity companies and activities and to explore ways forward and policy options for governments. The first section of the paper will explore the characteristics of typical cyber operations and challenges related to their conduct by private actors. Section two will address the governance challenges around cybersecurity and three main departure points for regulation: the fact that geographic scope does not limit cybersecurity companies, that cyber operations can slide from defensive to offensive very quickly; and that cybersecurity services are often exported for the purpose of (or with the knowledge they will be) violating human rights. This section will also integrate perspectives of international law. Section three will lay out suggestions for policy options in relation to international law and existing international normative frameworks. In conclusion, the paper will offer a framework and way forward as food for thought in order to address cybersecurity operations in relation to PMSCs.
  • Topic: International Law, Science and Technology, Cybersecurity, Internet
  • Political Geography: North America, Global Focus, United States of America
  • Author: Gary King, Melissa Sands
  • Publication Date: 03-2019
  • Content Type: Working Paper
  • Institution: Weatherhead Center for International Affairs, Harvard University
  • Abstract: Universities require faculty and students planning research involving human subjects to pass formal certification tests and then submit research plans for prior approval. Those who diligently take the tests may better understand certain important legal requirements but, at the same time, are often misled into thinking they can apply these rules to their own work which, in fact, they are not permitted to do. They will also be missing many other legal requirements not mentioned in their training but which govern their behaviors. Finally, the training leaves them likely to completely misunderstand the essentially political situation they find themselves in. The resulting risks to their universities, collaborators, and careers may be catastrophic, in addition to contributing to the more common ordinary frustrations of researchers with the system. To avoid these problems, faculty and students conducting research about and for the public need to understand that they are public figures, to whom different rules apply, ones that political scientists have long studied. University administrators (and faculty in their part-time roles as administrators) need to reorient their perspectives as well. University research compliance bureaucracies have grown, in well-meaning but sometimes unproductive ways that are not required by federal laws or guidelines. We offer advice to faculty and students for how to deal with the system as it exists now, and suggestions for changes in university research compliance bureaucracies, that should benefit faculty, students, staff, university budgets, and our research subjects.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Jayathma Wickramanayake
  • Publication Date: 09-2019
  • Content Type: Working Paper
  • Institution: Columbia University World Leaders Forum
  • Abstract: This World Leaders Forum program features an address by Jayathma Wickramanayake, the UN Secretary-General's Envoy on Youth, followed by a question and answer session with the audience.
  • Topic: Development, Gender Issues, United Nations, Multilateral Relatons, Youth
  • Political Geography: New York, United Nations, Global Focus
  • Author: Alan Riley
  • Publication Date: 04-2019
  • Content Type: Working Paper
  • Institution: Atlantic Council
  • Abstract: Given that offshore tax havens are largely located in small, independent states or self-governing territories, it could be assumed that they have little connection to OECD states and major financial centers such as London and New York. This is not the case. The so-called tax havens are in fact part of a much larger network of financial and corporate services that depends on lawyers, accountants, and bankers located in major Western cities. Only one part of the havens’ business actually involves providing lower tax rates to individual foreign account holders
  • Topic: International Affairs, Global Political Economy
  • Political Geography: Global Focus
  • Author: Maria Shagina
  • Publication Date: 06-2019
  • Content Type: Working Paper
  • Institution: Foreign Policy Research Institute
  • Abstract: This report will examine Russian-Japanese and Russian-South Korean energy cooperation. Neither Japan nor the Republic of Korea imposed energy sanctions on the Russian Federation, and both U.S. allies continue to expand their energy deals despite Western sanctions
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Max Hess
  • Publication Date: 06-2019
  • Content Type: Working Paper
  • Institution: Foreign Policy Research Institute
  • Abstract: In December 2018, the Russian Federation sent two Tupolov-160 supersonic bombers around the world to the Bolivarian Republic of Venezuela. On January 23, 2019, the U.S. and a series of Latin American countries recognized Venezuelan opposition leader Juan Guaido.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Yevgen Sautin
  • Publication Date: 05-2019
  • Content Type: Working Paper
  • Institution: Foreign Policy Research Institute
  • Abstract: The People’s Republic of China is actively engaging Black Sea littoral states through various initiatives to open new markets for Chinese goods, facilitate the acquisition of valuable or strategic local industries, and offer loans for large development projects
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: William Spiegelberger
  • Publication Date: 01-2019
  • Content Type: Working Paper
  • Institution: Foreign Policy Research Institute
  • Abstract: The Russian Federation’s recently provocative foreign policy results in part from structural weakness in the Russian domestic regime, a quasi-feudal system that requires certain actions abroad to maintain itself in power at home.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Dimitar Bechev
  • Publication Date: 02-2019
  • Content Type: Working Paper
  • Institution: Foreign Policy Research Institute
  • Abstract: In the summer of 2018, Greece and Russian Federation went through one of the worst crises in their traditionally friendly relations. The falling out was triggered by allegations of Russian meddling in Greek domestic politics
  • Topic: International Cooperation
  • Political Geography: Global Focus
  • Author: Dina Smeltz
  • Publication Date: 01-2019
  • Content Type: Working Paper
  • Institution: Chicago Council on Global Affairs
  • Abstract: Over the past 12 months, there have been more discussions between South Korean, US, and North Korean officials about Pyongyang’s potential denuclearization than at any time since the Six-Party Talks in 2006 and 2007. Exactly where those discussions are headed is unclear. But in South Korea, the public generally sees an improvement in the South Korean security situation according to a just-completed Chicago Council on Global Affairs survey. As a result, support for South Korea developing its own nuclear weapon appears to have waned, though a slight majority remains in favor. Despite what seems to be a slight sense of relief, the South Korean public is skeptical that either Moon or Trump can convince Kim Jong Un to fully denuclearize
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Richard Higgott
  • Publication Date: 06-2019
  • Content Type: Working Paper
  • Institution: Elcano Royal Institute
  • Abstract: This paper is an analysis of the discursive practices of the international economic policy of the Administration of President Donald Trump, writ large. Within this conceptual context it offers an empirical case study of the US-China relationship across the spectrum, from tariff conflict through to the growing struggle for control of the 21st century high-technology industries. The argument is that the Trump Administration utilises the discursive practices of what some scholars call ‘securitisation’ (Buzan et al., 1998) through to what might more appropriately be described as a discourse of ‘economic warfare’. The paper is in four parts. Part 1 provides a brief discussion of the changing historical and international context of the study. Part 2 provides a conceptual discussion of the discursive practices of securitisation, economic statecraft and economic warfare on the one hand and the theory of international trade captured in the idea of the rise and fall of mercantilism and its re-emergence in the international economic agenda of the Trump Administration on the other. Part 3 looks at these concepts as they pertain to current US international economic policy. Part 4 concentrates on US policy towards China particularly. The paper concludes with some reflections on the success or otherwise of contemporary US policy
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Pedro Serrano de Haro
  • Publication Date: 05-2019
  • Content Type: Working Paper
  • Institution: Elcano Royal Institute
  • Abstract: After an overview of external challenges, this paper will describe some of the main initiatives developed by the EU in the field of security and defence during the last three years and how this has led to a stronger engagement with key international partners. It will conclude with some reflections regarding the value of the EU as a platform for cooperation to face global challenges and on strategic autonomy.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Charles Powell
  • Publication Date: 05-2019
  • Content Type: Working Paper
  • Institution: Elcano Royal Institute
  • Abstract: This paper briefly analyses the attempted coup d’état carried out in Spain in February 1981 and the trial that was held in its aftermath, with a view to extracting possible lessons that might prove useful to those currently engaged in post-coup justice in Turkey.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Alina Averchenkova
  • Publication Date: 03-2019
  • Content Type: Working Paper
  • Institution: Elcano Royal Institute
  • Abstract: The objective of this working paper is to inform policy experts, legislators and decisionmakers on the recent trends in climate change policy-making around the world and to draw lessons learnt from the experiences with designing and implementing climate change legislation. The study in particular aims to contribute to the current debate in Spain on a draft climate change and energy transition law, as well as aid other countries currently working on climate legislation.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Piotr Maciej Kaczyński
  • Publication Date: 03-2019
  • Content Type: Working Paper
  • Institution: Elcano Royal Institute
  • Abstract: What is Poland’s position in the EU in the context of the political and economic developments under the Law and Justice government? Since 2015 the one-party government in Poland has engaged in a policy of a radical change. A set of various reforms have been implemented, some of them highly controversial, such as the reform process in the judiciary. The judicial reforms –or ‘take over’– put the Warsaw government on a collision course with the EU institutions over the rule of law. This paper analyses three aspects of the Polish-EU relationship: (1) the state of the rule of law; (2) the economic challenges; and (3) the political position of Poland among EU member states
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Thomas Wilkins
  • Publication Date: 03-2019
  • Content Type: Working Paper
  • Institution: Japan Institute Of International Affairs (JIIA)
  • Abstract: The October 2018 Warsaw Security Forum (WSF) gathered government, military, and think tank personnel from Central and Eastern Europe (CEE) and beyond (including a delegation from Japan) in one of Europe’s most prominent Track 1.5 dialogues to focus upon the deteriorating regional and global security environment. Just as the emphasis of their Asian counterparts has been on revisionist challenges to the regional security order in the Indo-Pacific, the WSF focused upon the aggressive behavior of the Russian Federation (Russia) toward its neighbours in CEE and its so-called “near abroad”. As the host country celebrating 100 years of independence, Poland, along with its CEE counterparts in NATO/EU, are countries that are acutely aware of the dangers presented by Russian actions and know that, as history has taught them, their sovereignty cannot be taken for granted. A disintegration of the liberal world order, international law, and the Transatlantic relationship, would leave small, and even medium-sized, states at the potential mercy of more powerful and aggressive neighbours
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Publication Date: 04-2019
  • Content Type: Working Paper
  • Institution: Hellenic Foundation for European and Foreign Policy (ELIAMEP)
  • Abstract: The United Nations Convention on the Law of the Sea, December. 10, 1982, (“UNCLOS”) lays down a comprehensive regime of law and order in the world’s oceans and seas establishing rules governing all uses of the oceans and their resources
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Triandafyllos KARATRANTOS
  • Publication Date: 01-2019
  • Content Type: Working Paper
  • Institution: Hellenic Foundation for European and Foreign Policy (ELIAMEP)
  • Abstract: The rise and evolution of Daesh (al-Dawlah al-Islamīyah fī l-ʻIrāq wa-sh-Shām) marked a new and very interesting debate about the labeling of violent groups that are not traditional terrorist organizations and they are also acting with different roles and using alternate tactics and modus operandi, such as insurgency, within civil and regional conflicts. Furthermore, the establishment of the so called “Caliphate” includes a new parameter in the scientific debate, the quasi state dimension. Daesh is a modern archetype of this vivid scientific debate, but the difficulties in labeling, especially in cases were terrorist groups are taking part in civil conflicts, is not new. Labeling is not only a matter of “name and blame”, is important in order to design an effective and holistic counter terrorism strategy. The aim of this chapter is to discuss the different approaches about labeling nontraditional terrorist groups and to present the terrorist activity of Daesh.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Nikolaos PAOUNIS
  • Publication Date: 01-2019
  • Content Type: Working Paper
  • Institution: Hellenic Foundation for European and Foreign Policy (ELIAMEP)
  • Abstract: War is a socio-historic phenomenon, that is constantly developing and changes form rapidly, due to the immense development of military technology (accomplishments in industrial defense), which goes along with military inventiveness. In parallel, a need arises to shift the rules of war conduct (e.g. law in military conflicts), that is to say attempts have been made to normalize situations, which from the outset were unregulated. Man is a subject of war, who possesses consistent physical and intellectual features, is integrated in a relatively steady geographical and social environment and therefore some common characteristics are observed in the perception of war.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Publication Date: 03-2019
  • Content Type: Working Paper
  • Institution: Hellenic Foundation for European and Foreign Policy (ELIAMEP)
  • Abstract: Every time that Turkey acts in new ways abroad, various terms re-emerge in public discourse such as Pax Ottomana, Pax Turkana, Neo-Ottomanism, Pan-Turkism, Pan-Islamism and, recently, the notion of a “Blue Homeland”. But what is the heart of the matter? As many have already noted, the “Blue Homeland” doctrine is not new in Turkish strategic thought. In the midst of the Turkish naval drills, many remembered the Turkish doctrine of two and a half wars and associated it with the drills. This paper, by Zenonas Tziarras, looks at the reasons why this perception is somewhat simplistic as the Turkish approach has gone way beyond the narrow doctrine of two and a half wars and expanded towards other directions.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: George Tzogopoulos
  • Publication Date: 01-2019
  • Content Type: Working Paper
  • Institution: Hellenic Foundation for European and Foreign Policy (ELIAMEP)
  • Abstract: Working Paper by Dr. George N. Tzogopoulos, Director of EU-China Programs at the Center International de Formation Européenne (CIFE), Begin Sadat Center for Strategic Studies (BESA), Fellow and Lecturer at the Democritus University of Thrace, on the importance of the Chinese investments in Gwadar and Piraeus. Rolling out the Belt and Road Initiative (BRI) China is largely investing in foreign countries’ ports that can function as transshipment hubs. Trade is boosted and new economic corridors are being opened. In that regard, the ports of Gwadar in Pakistan and Piraeus in Greece offer relatively similar opportunities for Chinese state-owned enterprises. A comparison of Chinese investments in the two ports demonstrate that similarities do exist indeed. However, differences are also evident and are principally linked to the dissimilar scope and scale of the investments in Gwadar and Piraeus, the national context of Pakistan and Greece respectively as well as the different type of their relations to China. On the whole, the Belt and Road Initiative can arguably foster closer economic collaboration between Islamabad and Athens and subsequently between Islamabad and Brussels in trade and foreign direct investments in a period during which Brussels has already launched the EU-Asia connectivity strategy and seeks to obtain tangible results.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Vangelis ARVANITIS
  • Publication Date: 03-2019
  • Content Type: Working Paper
  • Institution: Hellenic Foundation for European and Foreign Policy (ELIAMEP)
  • Abstract: The monetary authority, which in the case of the European Economic and Monetary Union (EMU) is the European Central Bank (ECB), has among other things, the obligation to determine the monetary policy, aiming to influence basic parameters of the economy like the level of prices. In this paper the author tries to identify the impact of the monetary policy of the ECB on credit provision of European economies through the mortgage credit channel, including during the period of the crisis. More specifically, we employ data for the loans of commercial banks to households for housing purposes after a contractionary monetary policy by the monetary authority (increase of the main interest rate). Given that the mortgage channel has not been adequately studied during the crisis period for EU member states, this paper will contribute towards covering this gap in the literature.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Antonia-Maria SARANTAKI
  • Publication Date: 02-2019
  • Content Type: Working Paper
  • Institution: Hellenic Foundation for European and Foreign Policy (ELIAMEP)
  • Abstract: A new working paper by ELIAMEP explores the operational cooperation between Frontex, the European Border and Coast Guard agency, and NATO. Since 2016, these two disparate actors have started to cooperate in the Aegean Sea and the Mediterranean Sea after NATO’s involvement in countering irregular migration. The working paper, based on data collected through semi-structured interviews with Frontex and NATO staff as well as document review and analysis, seeks to analyse the cooperation of these two institutions by assessing their mandate, the reasons for their establishment, their operations and their organisational enhancements. It focuses on their role in addressing a non-traditional security challenge, namely irregular migration, which provided the basis for joining efforts and initiating their operational cooperation. The latter raises serious concerns about the future of both institutions and the adopted EU strategy to cope with the issue of migration. All these define a new EU-NATO security partnership that has the potential to reshape the content of the transatlantic cooperation.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Nikolaos PAOUNIS
  • Publication Date: 01-2019
  • Content Type: Working Paper
  • Institution: Hellenic Foundation for European and Foreign Policy (ELIAMEP)
  • Abstract: Following the thematic publications on the evolution of the war, after the so-called “Revolution in Military Affairs”, a new policy paper published by ELIAMEP analyses the Information Centric War and Cyber-security. Cyberattack is a new form of warfare, while its development is parallel to that of technological progress and its subsequent sociopolitical effects on humankind. Furthermore, cyberattacks raise once again issues of Ethics and whether provisions of international law should be applied. Estonia is the first victim of a massive cyberattacks, while, even though Turkey considers the issue at hand important, it makes use of the abovementioned form of warfare.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Thanos Dokos
  • Publication Date: 01-2019
  • Content Type: Working Paper
  • Institution: Hellenic Foundation for European and Foreign Policy (ELIAMEP)
  • Abstract: ELIAMEP published a new policy paper by defence analyst Manos Iliadis and Director General of ELIAMEP Dr. Thanos Dokos on “Military Service and Defence”.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Charles Harry, Nancy Gallagher
  • Publication Date: 03-2019
  • Content Type: Working Paper
  • Institution: Center for International and Security Studies at Maryland (CISSM)
  • Abstract: Faced with rapidly growing cyber threats, organizational leaders, and government officials cannot reliably secure all data and digital devices for which they are responsible. The best they can do is conduct strategic risk management. That requires a systematic way to categorize potential attacks and estimate consequences in order to set priorities, allocate resources, and mitigate losses. The 2018 U.S. National Cyber Strategy holds government officials accountable for doing cyber risk management based on the National Institute of Standards and Technology’s (NIST) Cybersecurity Framework and recommendations from not-for-profit organizations such as the Center for Internet Security (CIS) and ISACA. Yet, none of these policy documents and best practice guides actually provide the necessary analytical tools. As a result, public agencies, private companies, and non-profit groups that try to do risk assessment often feel overwhelmed rather than empowered to make strategic cybersecurity decisions. The Center for International and Security Studies at Maryland (CISSM) has developed an analytical framework that provides four essential building blocks needed to satisfy the principles in the NIST Standard Framework and other best practice guides: 1. A standardized system for classifying cyber threats and events by their effects. 2. Tools to associate organizational functions with IT topologies. 3. Algorithms to assess the severity of disruptive and exploitative cyber events. 4. A method to understand the integrated nature of risk across different parts of a simple organization, major divisions of a complex organization, or interconnected organizations in a complex system. These building blocks can be combined in different ways to answer critical questions, such as: • What is the range of cyber risks to different types of organizations? • Which threats pose the greatest risk to a specific department or organization? • How could an attack on one part of an IT network affect other organizational functions? • What is the accumulated risk across a critical infrastructure sector or geography? Using a comprehensive, consistent, and repeatable method to categorize and measure risk can enhance communication and decision-making among executives who make strategic decisions for organizations and their IT staff with day-to-day responsibility for cybersecurity. It can facilitate cooperation between public officials and private industry who share responsibility for different components of national critical infrastructure. It can inform media coverage and public debate about important policy questions, such as which decisions about cybersecurity should be purely private decisions, whether government should incentivize or mandate certain cybersecurity choices, and when a cyber attack warrants some type of military response.
  • Topic: Science and Technology, Military Strategy, Cybersecurity, Media
  • Political Geography: Global Focus
  • Author: Poorti Sapatnekar
  • Publication Date: 06-2019
  • Content Type: Working Paper
  • Institution: Center for International and Security Studies at Maryland (CISSM)
  • Abstract: While nation-states remain primary protagonists in global governance processes, it is increasingly recognized that non-state actors (NSAs) are key players in areas ranging from human rights and civil conflict to infectious disease and nuclear non-proliferation. The area of climate change is an illustrative example. NSAs have been active participants in the margins of the Conference of Parties (COP), the annual meeting of Parties to the UN Framework Convention on Climate Change (UNFCCC), since its inception in 1995 by holding side-events and protests, raising awareness, lobbying, etc. NSAs have also contributed to the development of a “regime complex” in climate governance at the same time. Yet, the determinants and effects of that participation are not well understood. The COP offers a unique opportunity to examine one piece of this puzzle; namely, the factors that enable and motivate NSAs to participate in the design and implementation of international agreements. We use an original dataset of NSA participants at the COP from 1995 to 2016, to examine whether NSAs are well positioned to help states overcome key barriers to cooperation. As NSAs ramp up their participation in climate governance and elsewhere, this study offers insight into their motivations and potential impact on governance outcomes.
  • Topic: Climate Change, United Nations, Non State Actors, Governance
  • Political Geography: Global Focus
  • Author: Johan Bjerkem
  • Publication Date: 05-2019
  • Content Type: Working Paper
  • Institution: European Policy Centre
  • Abstract: The climate crisis, environmental disasters, a lack of competitiveness, falling behind in the digital race… The EU faces multiple challenges that it will need to address if it is to ensure long-term sustainable prosperity for European citizens. At the same time, there are two ongoing transitions – the creation of a circular economy and the digital transformation – that could provide the means to address these challenges, if they are managed well. As the EU and national policymakers are making significant efforts to promote a circular economy on the one hand and a digital economy on the other, Annika Hedberg and Stefan Šipka, together with Johan Bjerkem, argue that it is time to align the agendas as a means to achieve greater sustainability and competitiveness. This publication:
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Katharina Bamberg
  • Publication Date: 01-2019
  • Content Type: Working Paper
  • Institution: European Policy Centre
  • Abstract: This edition’s special focus examines the results of the European Parliament Elections and what they mean for the reform process of the Common European Asylum System. Other key highlights of this Policy Update include an analysis of the ongoing criminalisation of Search and Rescue activities in the Mediterranean, the situation at the eastern border of the EU, developments on the Visa Code and Returns Directive, and a closer look from the European Summit of Refugees and Migrants
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Marco Guili
  • Publication Date: 06-2019
  • Content Type: Working Paper
  • Institution: European Policy Centre
  • Abstract: A carbon-neutral future, as envisioned by the European Commission in its recent communication A Clean Planet for All, will require unprecedented changes to the EU’s economy and society. The Multiannual Financial Framework for the 2021-2027 cycle, which is currently under negotiation, has an important role to play: overall, the EU budget supports regional development and research in areas that are critical to achieving climate goals, including transport, energy and agriculture. In this Discussion Paper, Marco Giuli draws lessons from the current EU budget cycle and investigates how it has hampered, and even undermined climate efforts, including continued support for practices that contribute to global warming. He also takes a closer look at the European Commission’s 2018 MFF proposal and concludes that, although several innovations concerning climate spending were introduced, there’s still a considerable risk that the new MFF will turn into a missed opportunity.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Fabian Zuleeg
  • Publication Date: 06-2019
  • Content Type: Working Paper
  • Institution: European Policy Centre
  • Abstract: One of the unintended consequences of the Brexit vote almost three years ago has been the re-opening of the question of the UK’s territorial integrity. Most of the focus has, naturally, been on Northern Ireland, given the historical context and the challenge a hard border would constitute for the peace protest. Less attention has been paid to the situation in Scotland, even though it voted strongly against leaving the EU: 62% of Scottish voters voted remain, while only 38% voted to leave - a higher remain vote than in Northern Ireland. If anything, this sentiment has become stronger, with polls suggesting that two-thirds of Scottish voters now support remaining in the EU.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Paul Butcher
  • Publication Date: 06-2019
  • Content Type: Working Paper
  • Institution: European Policy Centre
  • Abstract: The European Citizens’ Consultations (ECCs) were supposed to bring citizens into the decision-making process and inform the European Council’s discussions about the future of the EU at the recent Sibiu Summit. In practice, any outcome from the ECCs has been largely absent, and it is unclear if they have been taken on board at all. This is despite the events providing a wealth of information on European citizens’ priorities, proposals, and demands. Paul Butcher and Corina Stratulat identify the main lesson of the 2018 ECCs – that without any clear definition of their objectives, it is impossible to adequately assess or respond to them. The authors go on to argue that any future repeat of the process must clearly define the scope and purpose of the exercise in advance. As the EU enters a new politico-institutional cycle, the immediate priority is to ensure that the ECCs and other forms of citizens’ involvement in decision-making appear prominently on the agenda of the new Commission and subsequent European Council summits.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: David Baldock
  • Publication Date: 01-2019
  • Content Type: Working Paper
  • Institution: European Policy Centre
  • Abstract: The European Council’s guidelines for the Brexit negotiations, published one month after it received the Article 50 notification from the United Kingdom, state that “any free trade agreement […] must ensure a level playing field, notably in terms of competition and state aid, and in this regard encompass safeguards against unfair competitive advantages through, inter alia, tax, social, environmental and regulatory measures and practices
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Johannas Greubel
  • Publication Date: 06-2019
  • Content Type: Working Paper
  • Institution: European Policy Centre
  • Abstract: The three years after the Brexit referendum were marked by intense preparations for the UK’s departure, including withdrawal negotiations that eventually led to the conclusion of a Withdrawal Agreement and a political declaration, and the European Council agreeing to extend the withdrawal period until 31 October 2019 at the latest. Yet, even after the UK’s departure from the EU, negotiations between the EU and the UK are far from over. Indeed, it is only after the UK's withdrawal that negotiations on the future relations will begin. It is pertinent to examine how the EU governed the negotiation process internally, in order to draw conclusions for the future. Johannes Greubel argues that throughout the negotiations, the EU managed to set up an inter-institutional governance system that not only ensured unity but also the full support of all institutions for the negotiations' outcome, and strengthened the Union’s negotiation position. This governance constitutes a complex system of interaction that can be described as a model file of inter-institutional and -member state cooperation and diplomacy.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Eulalia Rubio
  • Publication Date: 06-2019
  • Content Type: Working Paper
  • Institution: European Policy Centre
  • Abstract: This study for the European Parliament provides a comprehensive assessment of how the EU budget supports innovation in the current programming period and analyses the approach to innovation financing in the Commission´s MFF 2021-2027 proposals. The findings provide the basis on which to draw recommendations to maximize the use of EU innovation funding in the coming MFF. In particular, the study
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Andrew Duff
  • Publication Date: 03-2019
  • Content Type: Working Paper
  • Institution: European Policy Centre
  • Abstract: Andrew Duff argues that neither the EU nor the UK is now fully in control. Both are being badly destabilised by Brexit. An accidental no deal is a live possibility. Unless the British have made real progress towards the exit by the time of the next EUCO in June, attitudes will harden — including those of Angela Merkel. Talks between pro-European Tory ministers and the Labour frontbench have a 30% chance of success. If they fail, both leaders are expected to commit to more indicative votes in the Commons, this time rather more ‘meaningful’. Mr Corbyn may want to delay his agreement until after the UK has been obliged by the EUCO to fight a mock election to the European Parliament. But the June EUCO is the next important deadline if British MEPs are to be stopped from taking their seats.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Publication Date: 05-2019
  • Content Type: Working Paper
  • Institution: Mexican Council on Foreign Relations (COMEXI)
  • Abstract: El Consejo Mexicano de Asuntos Internacionales, COMEXI, es una Asociación Civil sin fines de lucro dedicada al estudio, análisis y diálogo sobre las relaciones internacionales. Su objetivo es generar propuestas que contribuyan a la toma de decisiones y que incidan—de manera estratégica— en la definición e implementación de las políticas públicas que afectan a México. También busca contribuir efectivamente en el posicionamiento e impacto de México en el mundo. La riqueza de COMEXI radica en el talento de su membresía, la cual está integrada por más de 600 asociados expertos en diferentes sectores y disciplinas (académicos, empresarios, funcionarios públicos, diplomáticos y líderes de opinión). También contamos con la participación de embajadas, organismos internacionales, y centros de investigación dedicados al estudio de la vida política, social, y económica del país
  • Topic: International Organization, International Affairs
  • Political Geography: Global Focus
  • Author: Antonio Marquina
  • Publication Date: 01-2019
  • Content Type: Working Paper
  • Institution: Unidad de investigación sobre seguridad y cooperación (UNISCI)
  • Abstract: España en la Segunda Guerra Mundial
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Javier Morales
  • Publication Date: 01-2019
  • Content Type: Working Paper
  • Institution: Unidad de investigación sobre seguridad y cooperación (UNISCI)
  • Abstract: Rusia en la Sociedad Internacional
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Publication Date: 01-2019
  • Content Type: Working Paper
  • Institution: Unidad de investigación sobre seguridad y cooperación (UNISCI)
  • Abstract: El camino hacia el Este
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Michael Kende1, Nivedita Sen
  • Publication Date: 01-2019
  • Content Type: Working Paper
  • Institution: Centre for Trade and Economic Integration, The Graduate Institute (IHEID)
  • Abstract: E-commerce has long been recognized as a driver of growth of the digital economy, with the potential to promote economic development. The benefits come from lower transaction costs online, increased efficiency, and access to new markets. The smallest of vendors can join online marketplaces to increase their sales, while larger companies can use the Internet to join global value chains (GVCs), and the largest e-commerce providers are now among the most valuable companies in the world.
  • Topic: Development, Economics, Science and Technology, World Trade Organization, Digital Economy, Economic growth, Free Trade
  • Political Geography: United States, Europe, Switzerland, Global Focus
  • Author: Chanya Punyakumpol
  • Publication Date: 02-2019
  • Content Type: Working Paper
  • Institution: Centre for Trade and Economic Integration, The Graduate Institute (IHEID)
  • Abstract: Is there a doctrine of 'stare decisis' in international trade and international investment law? From a positive law perspective, the answer is a definite no. However, as many scholars have observed, in practice, there has been a strong level of deference from the Appellate Body to its previous rulings, but less so from investment tribunals. Using social network analysis to assess actual citations from the Appellate Body Reports and investment arbitrations from the inception to the current time, this paper examines the evolution and 'status quo' of citation networks in international trade and international investment arbitrations. It asks, not only whether there is a 'de facto' rule of precedent in the two regimes, but also when it occurs and how the development links with the institutional design of dispute settlement. The results show how the doctrine of 'stare decisis' diverges in international trade and international investment, as well as the importance of institutional design in shaping and constraining the behaviors of tribunals.
  • Topic: Economics, Globalization, International Trade and Finance, Law, Finance, Global Political Economy
  • Political Geography: Global Focus
  • Author: Joseph Halevi
  • Publication Date: 06-2019
  • Content Type: Working Paper
  • Institution: Institute for New Economic Thinking (INET)
  • Abstract: This paper analyzes the early stages of the formation of the Common Market. The period covered runs from the end of WW2 to 1959, which is the year in which the European Payments Union ceased to operate. The essay begins by highlighting the differences between the prewar political economy of Europe and the new dimensions and institutions brought in by the United States after 1945. It focuses on the marginalization of Britain and on the relaunching of French great power ambitions and how the latter determined, in a very problematical way, the European complexion of France. Because of France’s imperial aspirations, France, not West Germany, emerged as the politically crisis prone country of Europe acting as a factor of instability thereby jeopardizing the process of European integration, Among the large European nations, Germany and Italy appear, for opposite economic reasons, as the countries most focused on furthering integration. Germany expressed the strongest form of neomercantilism while Italy the weakest.
  • Topic: Economics, Political Economy, Global Political Economy, World War II, Common Market
  • Political Geography: United States, Europe, Germany, Global Focus
  • Author: Joseph Halevi
  • Publication Date: 11-2019
  • Content Type: Working Paper
  • Institution: Institute for New Economic Thinking (INET)
  • Abstract: The paper highlights the position of German authorities, showing that they were quite lucid about the fundamental weaknesses inherent in a process that separated monetary from fiscal policies by giving priority to the centralization of the former. Instead of repeating the well known critiques levelled against the EMU – for which readers are referred to the unsurpassed treatment by Stiglitz, the essay highlights the splintering of Europe in the way in which it has unfolded during the 1990s and in the first decade of the present millennium. In particular the early economic and political origins of the terminal crisis of Italy are located between the late 1980s and the 1990s. France is shown to belong increasingly to the so-called European periphery by virtue of a weakening industrial structure and persistent balance of payments deficits. The paper argues that France regains its central role by political means and through its weight as an active nuclear military power centered on maintaining its imperial interests and posture especially in Africa. The first decade of the present millennium is portrayed as the period in which a distinct German economic area had been formed in the midst of Europe with a strong drive to the east with an increasingly powerful gravitational pull towards the People’s Republic of China.
  • Topic: Economics, International Political Economy, Political Economy, History, Macroeconomics
  • Political Geography: Africa, China, Europe, Asia, Germany, Global Focus
  • Publication Date: 05-2019
  • Content Type: Working Paper
  • Institution: Institute for New Economic Thinking (INET)
  • Abstract: Finance and the macroeconomy, both policy and industry practices as well as academic research, have evolved substantially in recent years. While the old questions of business cycles, macroeconomic management, financial regulation, and social protection are still being debated, we are now confronted with new developments in the economy, characterized by digital technology, new modes of production and business models, and changing employment relations. Macroeconomics and finance need urgent rethinking as the global economy transforms. Our gathering on March 5, 2019 brought together economists, policymakers, financial regulators, and industry practitioners from around the world. We heard diverse perspectives on multilateralism, pension and labor market reform, international trade, and risks in the world economy, and we grappled with issues on stagnant wages, public debt, fiscal and monetary policy, and banking reforms. Our discussion was by no means exhaustive or conclusive, but we attempted to harness the group’s collective wisdom to address some of the most prominent questions of our day. This document is intended to inform our commissioners as they develop CGET’s final report and to share our timely conversation with policymakers and the general public. Fomenting multidisciplinary, critical discourse is one of the most important responsibilities of this initiative, and we sincerely thank the staff at the Institute for New Economic Thinking (INET), our dedicated Commissioners, and our outside experts for helping us to promote this dialogue.
  • Topic: Economics, Industrial Policy, Regulation, Digital Economy, Economic Theory, Macroeconomics
  • Political Geography: United States, Global Focus
  • Author: Claudia Fontanari, Antonella Palumbo, Chiara Salvatori
  • Publication Date: 05-2019
  • Content Type: Working Paper
  • Institution: Institute for New Economic Thinking (INET)
  • Abstract: This paper challenges the mainstream view of potential output, and enquires into the supposed effects of Great Recession on potential growth. We identify in the demand-led growth perspective a more promising theoretical framework both to define the notion and to gauge the long-term effects of a demand slow down. Based on the poor reliability of standard estimates of potential output, we also propose an alternative calculation. This is based on an update of Arthur M. Okun’s original method for estimating potential output, which, differently from the estimation methods currently in use, does not rely on the notion of NAIRU, thus being immune to its theoretical and empirical shortcomings. Our calculation, based on a re-estimation of Okun’s Law on US quarterly data, shows both how far an economy generally operates from its production possibilities, and how much potential growth is affected by the actual growth of demand over time. These wide margins for expansion of actual and potential output growth imply that a determined policy of demand expansion would create, given time, the very capacity that justifies it.
  • Topic: Economics, Global Recession, Economic growth, Macroeconomics, Demand
  • Political Geography: United States, Global Focus
  • Publication Date: 04-2019
  • Content Type: Working Paper
  • Institution: Institute for New Economic Thinking (INET)
  • Abstract: Technology has become the most powerful disruptive force in our economy. It bears on the future of work, competition, market power, and national security, and it binds the other major areas of our commission’s investigation: macroeconomics and finance, globalization, and climate change. In essence, technological progress propels global economic transformation. Our gathering on February 6, 2019 brought economists together with leading voices from academia, labor, private industry, and the nonprofit/NGO sector. We heard from industry leaders with deep roots and history in the Silicon Valley technology revolution, academics who have also spent time in the policy arena, and from individuals who are already considering new models and approaches to digital rights and the future of work. Our discussion was by no means exhaustive or conclusive, but we attempted to harness the group’s collective wisdom to address some of the most vexing questions of our day. This document is intended to inform our commissioners as they develop CGET’s final report and to share our timely conversation with policymakers and the general public. Fomenting multidisciplinary, critical discourse is one of the most important responsibilities of this initiative, and we sincerely thank the staff at the Institute for New Economic Thinking (INET), our dedicated commissioners, and our outside thought leaders for helping us to promote this dialogue.
  • Topic: Economics, Science and Technology, Global Markets, Digital Economy, Global Political Economy, Macroeconomics
  • Political Geography: United States, Global Focus
  • Author: Enrico Sergio Levrero
  • Publication Date: 01-2019
  • Content Type: Working Paper
  • Institution: Institute for New Economic Thinking (INET)
  • Abstract: After briefly mentioning the determinants of the natural rate of interest in the New Keynesian models, the paper discusses the different notions of it that we find in these models and the problems encountered when the natural rate is estimated. It states that these problems are not only related to the difficulties in distinguishing the kind and persistency of economic shocks, but pertain to theory, namely to model specification and the alleged independence of the average or normal interest rate from monetary policy. Following Keynes’s suggestion regarding the monetary nature of interest rates, some final remarks will thus be advanced on their effects on prices and income distribution as well as on the objectives and stance of monetary policies.
  • Topic: Economics, Monetary Policy, Income Inequality, Macroeconomics, Keynes
  • Political Geography: United States, Global Focus
  • Author: Ricardo Perez Truglia, Matias Giaccobasso, Guillermo Cruces, Rodrigo Ceni, Marcelo Bergolo
  • Publication Date: 11-2019
  • Content Type: Working Paper
  • Institution: Center for Distributive, Labor and Social Studies (CEDLAS)
  • Abstract: The canonical model of Allingham and Sandmo (1972) predicts that firms evade taxes by optimally trading off between the costs and benefits of evasion. However, there is no direct evidence that firms react to audits in this way. We conducted a large-scale field experiment in collaboration with Uruguay’s tax authority to address this question. We sent letters to 20,440 small- and medium-sized firms that collectively paid more than 200 million dollars in taxes per year. Our letters provided exogenous yet nondeceptive signals about key inputs for their evasion decisions, such as audit probabilities and penalty rates. We measured the effect of these signals on their subsequent perceptions about the auditing process, based on survey data, as well as on the actual taxes paid, based on administrative data. We find that providing information about audits had a significant effect on tax compliance but in a manner that was inconsistent with Allingham and Sandmo (1972). Our findings are consistent with an alternative model, risk-as-feelings, in which messages about audits generate fear and induce probability neglect. According to this model, audits may deter tax evasion in the same way that scarecrows frighten off birds.
  • Topic: Economics, Global Political Economy, Tax Systems, Economic Policy, Macroeconomics
  • Political Geography: United States, Argentina, Global Focus
  • Author: Onil Banerjee, Martin Cicowiez, Renato Vargas, Mark Horridge
  • Publication Date: 10-2019
  • Content Type: Working Paper
  • Institution: Center for Distributive, Labor and Social Studies (CEDLAS)
  • Abstract: In 2014, the United Nations published the first International Standard for environmental economic statistics, known as the System of Environmental-Economic Accounting (SEEA).. As more countries adopt and implement the SEEA, the availability of consistent environmental and economic information increases the need for analytical tools that can use this data to respond to policy relevant questions. In this paper, we present a workflow to develop an environmentally extended social accounting matrix, which can serve as the basic database for the development of environmentally-extended computable general equilibrium models. To illustrate, and given its comprehensive implementation of the SEEA, we apply this workflow to the Guatemalan case and the Integrated Economic-Environmental Modeling (IEEM) Platform.
  • Topic: Economics, United Nations, Basic Data, Accountability, Economic Policy, Statistics
  • Political Geography: South America, Latin America, Central America, Guatemala, Global Focus
  • Author: Jeppe Strandsbjerg
  • Publication Date: 03-2019
  • Content Type: Working Paper
  • Institution: Brown Journal of World Affairs
  • Abstract: Our current system of international politics is built on a cartographic real- ity of space. Te legal attachment of sovereignty to territory requires a particular cartographic representation of space. By this I mean that our system of states— being territorially defned—implicitly requires a geography that is mapped in a way that is compatible with our notion of sovereignty. Te cartographic image of state territory enables us to maintain the idea of territorial integrity even when the reality on the ground corresponds very little with the fundamental principles of the UN Charter: Sovereignty (Article 2:1) and Territorial Integrity (Article 2:4).1 When UN operations map the Democratic Republic of Congo it is represented as an integrated territory, and Iraq and Syria maintain their coherent cartographic-territorial representation even when both countries have been divided in all but formal name. Although these are obvious examples of the territorial ideal disagreeing with the power relations on the ground, they actually capture a general logic where the territorial order represented by the map precedes the order on the ground.
  • Topic: International Relations, Geopolitics, International Relations Theory, Cartography
  • Political Geography: Global Focus