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41. Economic Size Trumps All Else? Lessons from BRICSAM

Author:
Timothy Shaw, Andrew F. Cooper, and Agata Antkiewicz
Publication Date:
12-2006
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
Continuing CIGI's BRICSAM research, this paper questions whether size (economic or population) of emerging economies alone is enough to warrant accommodation in the rules and structures of the international system. The global realignment of states following the resulting power vacuum brought on by the end of the Cold War is finally materializing, as a new triangular formation has taken shape: the 'first world' club of the OECD; the 'second world' of emerging economies; and, a heterogeneous 'third world' of the rest. The interplay between and mobility among these groups of states deserves in-depth analysis. The core of this paper observes the economic and social trends of countries in the second tier, and their upwards aspirations towards the top-tier of the global architecture. Traced through a variety of indices, the growth of the BRICSAM group of countries (Brazil, Russia, India, China, South Africa, ASEAN-4 and Mexico) is demonstrated to be a powerful force in international economics and political economy. For the inclusion of these states, a change in the key aspects of global economic governance, the international architecture and geopolitics seems inevitable, and with it, new challenges arise for decision-makers and scholars alike.
Topic:
Cold War, Development, Economics, and Globalization
Political Geography:
Russia, China, India, South Africa, Brazil, and Mexico

42. Russia's Quest for Strategic Identity

Author:
Stanislav Secrieru
Publication Date:
11-2006
Content Type:
Working Paper
Institution:
NATO Defense College
Abstract:
Since the end of the Cold War, post-Soviet Russia has experienced a profound crisis of strategic identity. Previously a self- sufficient and autonomous international actor, post-Soviet Russia not only had to rethink its domestic political and economic organizational model in depth, but also had to “confront the most significant transformation of its surrounding strategic environment in the past five centuries – the greatest change since the rise of Muscovy.” Russia was challenged not only by the losses of strategically pivotal terrestrial and maritime strongholds, and the rise of powerful actors in its immediate vicinity, but also faced profound changes in the entire international political framework with blurred prospects for the future world order.
Topic:
International Relations, NATO, and Development
Political Geography:
Russia and Soviet Union

43. As safe as the Bank? Houshold financial behavior and economic reasoning in post-soviet Russia

Author:
Nils August Andresen
Publication Date:
01-2006
Content Type:
Working Paper
Institution:
Norwegian Institute of International Affairs
Abstract:
This study examines the financial behaviour of Russian households from the collapse of communism to the financial melt down in August 1998. By transforming savings into investment, financial intermediaries are important to economic growth. In post-Soviet Russia, financial intermediaries were increasingly unable to attract new household savings, as people turned to foreign currency. What determined the allocation of household savings? The study considers the three main alternatives households could turn to: The state savings bank; commercial financial companies; and foreign currency, mainly dollars.
Topic:
Development and Economics
Political Geography:
Russia and Soviet Union

44. Vladimir Putin and Russia's Oil Policy

Author:
Martha Brill Olcott
Publication Date:
02-2005
Content Type:
Working Paper
Institution:
Carnegie Endowment for International Peace
Abstract:
The honeymoon between the Western oil industry and Russian President Vladimir Putin ended in mid-2003 when the Russian procurator's office began arresting Yukos executives. The Kremlin's seemingly sudden attack on private industry surprised the international business community that was expecting investment-friendly behavior from the Russian leadership. After assuming power in late 1999, Putin quickly signaled interest in developing a strong energy partnership with the United States, including increased opportunities for Western firms to invest in Russia's oil and gas industry.
Topic:
Development, Energy Policy, and Industrial Policy
Political Geography:
Russia, United States, Europe, and Asia

45. Financial Sector Structure and Financial Crisis Burden: A Model Based on the Russian Default of 1998

Author:
George Mavrotas and Dmitri Vinogradov
Publication Date:
06-2005
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
We consider an overlapping generations model with two production factors and two types of agents in the presence of financial intermediation and its application to the Russian default of August 1998. The paper focuses on the analysis of the consequences of a sudden negative repayments shock on financial intermediation capacity and consequently on the economy as a whole. The model exhibits a 'chain reaction' property, when a single macroeconomic shock can lead to the exhaustion of credit resources and to the subsequent collapse of the whole banking system. To maintain the capability of the system to recover, regulatory intervention is needed even in the presence of the state guarantees on agents' deposits in the banks (workout incentives). We compare the results for an intermediated economy with those derived under the assumption of a market economy, and draw some broad conclusions on the consequences of the crises, which are contingent on the financial sector structure.
Topic:
Development, Economics, Emerging Markets, and International Trade and Finance
Political Geography:
Russia

46. Iran: The Moment of Truth

Author:
Patrick Clawson, François Heisbourg, and Vladimir Sazhin
Publication Date:
06-2005
Content Type:
Working Paper
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
The definition of European policy objectives and strategies vis-à-vis Iran's nuclear ambitions must take into account the specificities of the case, setting, as it were, its problématique. First, we have the unusual situation of a basically three-way game: the EU (and notably the EU-3, comprising the UK, France and Germany), Iran and the 'significant other', the United States, which is outside of the negotiation but a key player. Any student in strategy knows that a triangle is the most unstable and tricky combination to deal with, and the presence of yet another set of outsiders (notably Russia and China) adds another element of complexity.
Topic:
Development and Peace Studies
Political Geography:
Russia, United States, United Kingdom, Europe, Iran, Middle East, France, and Germany

47. What Iraq and Argentina Might Learn from Each Other

Author:
Anna Gelpern
Publication Date:
06-2005
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
Financial collapse usually triggers a flurry of market, academic, and policy innovation. The Latin American debt crisis of the 1980s produced the Brady Bonds and led to the rise of today's emerging markets. In the late 1990s, crises in Pakistan, Ecuador, and Ukraine helped teach the markets how to restructure international sovereign bonds. Crises in Mexico, Russia, Brazil, Turkey, and throughout East Asia raised doubts about the international system's ability to manage vast and rapid capital flows, and prompted a big-picture reassessment under the rubric “international financial architecture.” This included most famously the sovereign bankruptcy proposals discussed elsewhere in this volume.
Topic:
Development and Economics
Political Geography:
Pakistan, Russia, Turkey, Ukraine, Middle East, East Asia, Brazil, South America, Latin America, and Mexico

48. BRICSAM and the Non-WTO

Author:
Agata Antkiewicz and John Whalley
Publication Date:
10-2005
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
We discuss recent regional trade and economic partnership agreements involving the large population, rapidly growing economies (BRICSAM: Brazil, Russia, China, India, South Africa, ASEAN, and Mexico). Perhaps 50 out of 300 agreements that exist worldwide involve BRICSAM countries; most are recently concluded and will be implemented over the next few years. Along with extensive bilateral investment treaties, mutual recognition agreements, and other country to country (or region) arrangements they are part of what we term the non-WTO. This paper aims to document and characterize the agreements and analyze their possible impacts. Agreements differ in specificity, coverage and content. In some treaties there are detailed and specific commitments, but these also co-exist with seemingly vague commitments and (at times) opaque dispute settlement and enforcement mechanisms. Whether these represent a partial replacement of the World Trade Organization (WTO) process for newly negotiated reciprocity based on global trade liberalization or largely represent diplomatic protocol alongside significant WTO disciplines is the subject of this paper.
Topic:
Development, Economics, and International Trade and Finance
Political Geography:
Russia, China, India, Asia, South Africa, Brazil, and Mexico

49. A Presentation of Preliminary Findings and a Roundtable Discussion with Government and Civil Society Actors in Georgia

Author:
Denika Blacklock
Publication Date:
08-2005
Content Type:
Working Paper
Institution:
European Centre for Minority Issues
Abstract:
The Meskhetian Turks are one of the last of the national groups of the Soviet Union deported by Stalin in 1943–44, who have not yet been able to return to their native region (in southwest Georgia). Currently numbering some 370–400,000 people, the Meskhetian Turks, following pogroms and multiple displacements, find themselves scattered across vast territories of Russia, Ukraine, Uzbekistan, Kazakhstan, Kyrgyzstan, Azerbaijan, Georgia, Turkey and, most recently, the United States. In some of these countries, the Meskhetian Turks are exposed to ethnic persecution and discrimination, while Georgia, so far, has effectively blocked resettlement to their native region. International actors seeking to address these problems encounter severe difficulties in finding solutions, inter alia, due to a lack of consistent knowledge on the Meskhetian Turks' own perceptions of their displacement and their visions for future settlement.
Topic:
Civil Society, Development, and Government
Political Geography:
Russia, United States, Turkey, Ukraine, Kazakhstan, Kyrgyzstan, Uzbekistan, Soviet Union, Azerbaijan, and Georgia

50. Promoting security sector governance in the EU's neighbourhood

Author:
Heiner Hänggi and Fred Tanner
Publication Date:
07-2005
Content Type:
Working Paper
Institution:
European Union Institute for Security Studies
Abstract:
With the European Union's enlargement eastwards and southwards, its neighbourhood now stretches from the Balkans to the south Caucasus, and from Russia to the southern Mediterranean. The EU's eastern and southern neighbourhood is composed of areas which, to a greater or lesser extent, have serious deficits in security, development and democracy. There are many types of security problems, ranging from weak states and rampant international crime to spoilers in post-conflict reconstruction and unpredictable authoritarian leaders who pursue regime security often at the expense of national or regional security. In terms of socio-economic development, most of the countries in the EU's neighbourhood are fragile, often struggling with the effects of black market economies and cronyism, and burdened by bloated defence and security sectors that escape any accountability. As regards political systems, the EU's neighbourhood is composed of regime types ranging from new but weak democracies to regimes with authoritarian features and limited political participation.
Topic:
Security, Development, and Government
Political Geography:
Russia, Europe, Caucasus, and Balkans