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Begin New Search Political Geography United States of America Content Type Working Paper Publication Year within 25 Years Publication Year within 3 Years

91. South Korea's Critical Moment in Digital Currency Policymaking: Between Regulating Cryptocurrencies and Launching a Central Bank Digital Currency (CBDC)

Author:
June Park
Publication Date:
03-2022
Content Type:
Working Paper
Institution:
Korea Economic Institute of America (KEI)
Abstract:
Why is South Korea pilot-testing its Central Bank Digital Currency (CBDC), and what made it shift from non-issuance to consideration? This paper investigates the Bank of Korea (BOK)’s CBDC-related developments amid the geopolitical contest between the U.S. and China. It examines the Moon Jae-in administration’s defiance of decentralized finance (DeFi) and the BOK’s sudden shift from non-issuance to potential issuance, which led to expedited research, development, and pilot-testing of CBDCs. As in the case of the digital yuan, the BOK envisions a hybrid architecture for the digital won, wherein central banks and associated partner institutions are CBDC distributors, though they are distinguished by placing the digital won on distributed ledger technology rather than by centrally controlling it. However, South Korea’s previously rash decision to forego DeFi under an undemocratic process has deprived the country of the time and opportunity to develop new innovations as a leading country in the digital frontier. By sticking only to digitalizing centralized finance, the country now aims to be in “standby” mode for its CBDC launch if and when required, so as not to fall behind in digital financial architecture. This paper scrutinizes the South Korean government’s moves on crypto and CBDCs and argues that 1) the Moon administration has shown incapability in addressing DeFi amid the crypto boom and bust, and 2) the BOK’s shift from non-issuance to potential issuance of the digital won is driven by its interest to uphold central bank independence amid swaying geopolitics between the U.S. and China and an unpredictable upcoming presidential election in South Korea.
Topic:
Economics, Elections, Finance, Cryptocurrencies, and Digital Currency
Political Geography:
China, Asia, South Korea, North America, and United States of America

92. Taxless fiscal states: Lessons from 19th-century America and 21st-century China

Author:
Yuen Yuen Ang
Publication Date:
03-2022
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
How do modern fiscal states arise? Perhaps the most dominant explanation, based on the European experience, is that democratic institutions that limited the extractive power of states—exemplified by the 1688 Glorious Revolution in England—paved the way for the rise of fiscal capacity and subsequent prosperity. Revisionist accounts, however, reveal that this dominant narrative is flawed. In fact, numerous factors converged to enable the rise of European fiscal states, and in England, debt and land were particularly salient factors. Building off this literature, I bring attention to the role of ‘taxless public financing’ (i.e. financing public infrastructure through means other than taxation) in the making of fiscal states in two seldom compared cases: 19th-century America and 21st-century China. Both countries relied heavily on taxless financing to launch an infrastructure boom that spurred rapid growth along with massive corruption and financial risks.
Topic:
History, Finance, Tax Systems, and Land
Political Geography:
China, Asia, North America, and United States of America

93. Palestinian Expectations from The Biden Administration

Author:
Rawan AbuJulia
Publication Date:
03-2022
Content Type:
Working Paper
Institution:
Mitvim: The Israeli Institute for Regional Foreign Policies
Abstract:
The United States’ (US) foreign policy trend of intervention in the Middle East has long been accepted as a truism in international relations and politics. For decades, the US has demonstrated a steadfast commitment to peace in the Middle East and has made commendable efforts to mediate the Israel-Palestine conflict. While Washington-Palestinian relations experienced tension during Trump presidency, the victory of Biden left the Palestinians upbeat. Today, one year into Biden’s tenure, the Palestinians continue to hold mixed expectations of the Biden administration’s ability to advance the peace process. This paper attempts, in particular, to analyze the Palestinians’ expectations of the of the Biden Administration, as articulated by high officials and leaders of the Palestine Liberation Organization (PLO): a legitimate authority representing the Palestinian people recognized by Israel in 1993.[1] An approach that aims to understand Palestinian expectations can yield major benefits: it can contribute to making progress toward better conflict resolution, help advance the peace process, and likely revive the two-state solution. In fact, ignoring Palestinian expectations might lead to misunderstanding, miscommunication and could perhaps interrupt or even thwart the peace process entirely. To identify these expectations, this paper relies on Palestinian and international news sources, along with open governmental data published by the US government and the Palestinian Authority. This paper is divided into four sections. The first section presents the efforts that different US administrations made to advance the Israeli-Palestinian peace process. The second section summarizes President Trump’s policy towards the Palestinians, highlighting actions that provoked strong condemnation by the Palestinians. The third section presents President Biden’s policy toward the Palestinians in the first year of his administration, emphasizing the main differences between Biden and Trump’s decisions. The fourth and final part presents the overarching Palestinian expectations from the Biden administration.
Topic:
International Relations, Foreign Policy, Media, News Analysis, Peace, and Joe Biden
Political Geography:
Middle East, Israel, Palestine, and United States of America

94. The Role of Non-Pecuniary Considerations: Location Decisions of College Graduates from Low Income Backgrounds

Author:
Yifan Gong, Todd Stinebrickner, Yuxi Yao, and Ralph Stinebrickner
Publication Date:
01-2022
Content Type:
Working Paper
Institution:
Centre for Human Capital and Productivity (CHCP), Western University
Abstract:
We examine the initial post-college geographic location decisions of students from hometowns in the Appalachian region that often lack substantial high-skilled job opportunities, focusing on the role of non-pecuniary considerations. Novel survey questions allow us to measure the full non-pecuniary benefits of each relevant geographic location, in dollar equivalents. A new specification test is designed and implemented to provide evidence about the quality of these non-pecuniary measures. Supplementing perceived location choice probabilities and expectations about pecuniary factors with our new non-pecuniary measures allows a new approach for obtaining a comprehensive understanding of the importance of pecuniary and non-pecuniary factors for location decisions. We compare this approach to alternative expectations-based approaches. We also combine the non-pecuniary measures with realized location and earnings outcomes to characterize inequality in overall welfare.
Topic:
Income Inequality, Welfare, Higher Education, Data, and Location Choice
Political Geography:
North America, United States of America, and Appalachia

95. Not all political relation shocks are alike: Assessing the impacts of US-China tensions on the oil market

Author:
Yifei Cai, Valérie Mignon, and Jamel Saadaoui
Publication Date:
08-2022
Content Type:
Working Paper
Institution:
Centre d'Etudes Prospectives et d'Informations Internationales (CEPII)
Abstract:
This paper assesses the effects of US-China political tensions on the oil market. Relying on a quantitative measure of these relationships, we investigate how their dynamics impact oil demand, supply, and prices over various periods, starting from 1971 to 2019. To this end, we estimate a structural vector autoregressive model as well as local projections and show that political tensions between the two countries pull down oil demand and raise supply at medium- and long-run horizons. Overall, our findings show that conflicting relationships between these two major players in the oil market may have crucial impacts, such as the development of new strategic partnerships.
Topic:
Security, Oil, Conflict, Rivalry, and Energy Crisis
Political Geography:
China, Asia, North America, and United States of America

96. America, You Better Believe That Africa Matters

Author:
Charles Ray
Publication Date:
05-2022
Content Type:
Working Paper
Institution:
American Diplomacy
Abstract:
In the minds of most Americans and Europeans, the continent of Africa has long been seen as peripheral to world affairs, looked at either as a source of natural resources ripe for extraction or a place of poverty and violence requiring massive amounts of aid. This is a shortsighted and distorted view of a diverse continent and is long overdue for a reset. The truth is that Africa is home to some of the planet’s most strategic minerals and other resources, and that natural and manmade disasters plague the continent. It is far more diverse and dynamic than popular culture, mainstream media, and even many foreign policy makers portray it. For a lot of reasons, some of them existential, it is far from peripheral; it matters.
Topic:
Foreign Policy, Diplomacy, and Natural Resources
Political Geography:
Africa and United States of America

97. Everything Counts: Building a Control Regime for Nonstrategic Nuclear Warheads in Europe

Author:
Miles A. Pomper, William Alberque, Marshall L. Brown Jr., William M. Moon, and Nikolai Sokov
Publication Date:
05-2022
Content Type:
Working Paper
Institution:
James Martin Center for Nonproliferation Studies
Abstract:
Before the Russian invasion of Ukraine, the Biden administration insisted in arms control talks with Russia that a follow-on agreement to the New Strategic Arms Reduction Treaty (New START) should cover all nuclear weapons and that such an agreement should focus on the nuclear warheads themselves. This would represent a significant change from previous agreements, which focused on delivery vehicles, such as missiles. The United States has been particularly interested in potential limits on nonstrategic nuclear warheads (NSNW). Such weapons have never been subject to an arms control agreement. Because Russia possesses an advantage in the number of such weapons, the US Senate has insisted that negotiators include them in a future agreement, making their inclusion necessary if such an accord is to win Senate approval and ultimately be ratified by Washington. In the wake of Russian nuclear threats in the Ukraine conflict, such demands can only be expected to grow if and when US and Russian negotiators return to the negotiating table.
Topic:
Arms Control and Proliferation, Diplomacy, Treaties and Agreements, Military Strategy, and Nonproliferation
Political Geography:
Russia, Europe, North America, and United States of America

98. Russian-Turkish Relations and Implications for U.S. Strategy and Operations

Author:
Hanna Notte and Chen Kane
Publication Date:
11-2022
Content Type:
Working Paper
Institution:
James Martin Center for Nonproliferation Studies
Abstract:
Russia and Turkey’s complex relationship has significant implications for U.S. and North Atlantic Treaty Organization (NATO) strategic interests. The two states cooperate, deconflict, and compete in multiple theatres within Turkey’s extended neighborhood, which straddles United States Africa Command (USAFRICOM), United States Central Command (USCENTCOM), and United States European Command (USEUCOM) areas of responsibility (AORs). 1 Their bilateral strategic trade has created mutual dependencies and vulnerabilities across multiple sectors, such as natural gas, nuclear energy, and tourism. Russia’s invasion of Ukraine in February 2022 has many implications for the Russia-Turkey relationship. While engaging actively with Russia and stoking fears that its commercial ties with Moscow could serve Russia’s evasion of Western sanctions, Turkey has also provided TB2 Bayraktar drones to Ukraine, invoked the Montreux Convention, and offered itself as a mediator on various operational issues in the Russia-Ukraine war. As a result of these steps, Turkey’s leverage over both Russia and NATO allies has increased since February 2022. From a U.S. perspective, the implications have been mixed as Turkey has translated its increased leverage into foreign policy steps that threaten to undermine U.S. interests and NATO cohesion. Turkey remains of significant importance to the United States in enabling its interests in the three aforementioned AORs, preventing third actors like China and Iran from operating in the “seams,” and generating an enhanced, unified, and credible NATO capability and capacity in response to Russian aggression. It follows that Turkey’s interplay with Russia in its extended neighborhood has far-reaching implications for the United States and NATO. This study aims to shed light on this relationship, its likely trajectory over the coming decade, its implications for U.S. strategic interests, and how the United States and NATO might shape the Russia- Turkey interplay to their advantage.
Topic:
Security, Diplomacy, International Cooperation, Bilateral Relations, and Conflict
Political Geography:
Russia, Europe, Turkey, North America, and United States of America

99. Creating More Inclusive Public Spaces: Structural Racism, Confederate Memorials, and Building for the Future

Author:
PRRI Staff
Publication Date:
09-2022
Content Type:
Working Paper
Institution:
PRRI: Public Religion Research Institute
Abstract:
Across the United States over the past decade, there have been heated discussions about Confederate statues and memorials in public spaces. Some cities have removed statues or renamed public spaces memorializing the Confederacy and Confederate leaders, while others remain embroiled in debate. This survey, conducted jointly by PRRI and E Pluribus Unum, examines the role of race and racism in how Americans view Confederate monuments, as well as American attitudes toward creating making public spaces more inclusive.
Topic:
Space, Memory, Racism, and Public Investment
Political Geography:
North America and United States of America

100. The US–Italy Economic Relations in a Divided World

Author:
Adriana Castagnoli
Publication Date:
05-2022
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
In 2021, bilateral trade returned to the sustained pace it had prior to the Covid pandemic. Direct investment also grew – crucially, not just Italian investment in the United States but the other way round too. While Italy’s economic ties with Russia and China remain potential hotspots, Rome has never questioned its Atlantic orientation. Nevertheless, possible austerity policies following sanctions against Russia could spread social discontent that populist parties can exploit for consensus purposes in the 2023 general election, rekindling anti-Americanism rooted in different segments of Italian society.
Topic:
Foreign Policy, Foreign Direct Investment, Economic Policy, Trade, and Energy
Political Geography:
Russia, China, Italy, and United States of America