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  • Author: Frank Schimmelfennig
  • Publication Date: 08-1996
  • Content Type: Working Paper
  • Institution: Center for German and European Studies, University of California, Berkeley
  • Abstract: Two seemingly contradictory trends dominate the European debate over legitimate rule. On the one hand, there appears to be no ideologically viable alternative to liberal democracy following the collapse of the Eastern Bloc. On the other, the rapid progress of European integration has triggered an intense public debate over the European Union's "legitimacy deficit" and active popular opposition in many Western European countries. This paper asks whether these two seemingly contradictory developments can be reconciled. It argues that they can once it is recognized that the modern inter-state system is undergoing profound change. State sovereignty is being undermined by the trans-nationalization of foreign policy and the inter-nationalization of governance. In particular, the European Union has crossed the border from horizontal (or anarchical) interstate cooperation to vertical (or hierarchical) policy making in a multi-level political system in which states are but one level of the policy.
  • Topic: Foreign Policy, Economics, Government, International Organization, Sovereignty
  • Political Geography: Europe
  • Author: Gregory W. Noble
  • Publication Date: 11-1996
  • Content Type: Working Paper
  • Institution: Berkeley Roundtable on the International Economy
  • Abstract: The last decade has witnessed a momentous transformation in the political economy of East and Southeast Asia. From the 1950s until the early 1980s transnational production played a limited role in the strategies of Northeast Asian governments and firms. Ubiquitous policies of protection and promotion aimed to increase domestic investment, production and exports. Governments discouraged outward investment through financial controls, particularly over foreign currencies; they limited inward foreign investment to narrowly confined niches, and then often subjected it to onerous restrictions to prevent foreigners from gaining a major foothold in the national economy. The few exceptions involved areas in which domestic production was inadequate: investments in Southeast Asian raw materials and energy; investments by Japanese and Western firms in Korea and Taiwan for some labor-intensive products to be sold in local or third-country markets (but rarely in Japan); and a handful of high-tech investments by Western firms such as IBM which enjoyed such strong patent positions that they could not be forced to license their technology. Since the mid-1980s the combination of rapid currency appreciation, rising costs of labor, land and pollution control in Northeast Asia, and liberalizing economic reforms in Southeast Asia led to a huge surge of direct foreign investment, mainly for the production of labor-intensive manufactured goods. The focal point of Northeast Asian economies shifted from export-led growth based on protected domestic markets to management of regional production networks spread throughout Asia.
  • Topic: Economics, Industrial Policy
  • Political Geography: Japan, Taiwan, Asia, Korea
  • Author: Sofía Gallardo C.
  • Publication Date: 01-1996
  • Content Type: Working Paper
  • Institution: Centro de Investigación y Docencia Económicas
  • Abstract: With the implementation of the North American Free Trade Agreement different view regarding the possible environmental risks and the measures that had to be taken in order to be able to manage them were expressed. Some environmental organizations for the first time sought to influence international trading issues in local, national and trinational networks. Current globalization processes have established new challenges to the citizens because they have forced them to focus their political action simultaneously in national, regional and global public scenarios. Therefore, Mexican, Canadian and American citizens have been increasingly involved in their countries' economic integration processes, creating awareness of the possible risks generated by the current globalization patterns and of the ways in which they can be affected. This paper concentrates on the challenges that civic organizations in general, and environmental groups in particular, have had to confront in order to maintain or try to improve their living standards with the implementation of NAFTA and offers some considerations on the successes and failures of civic and environmental actions in the purview of NAFTA.
  • Topic: Economics, Globalization, International Trade and Finance
  • Political Geography: America, Canada, North America, Mexico
  • Author: Susanne Lutz
  • Publication Date: 12-1996
  • Content Type: Working Paper
  • Institution: Max Planck Institute for the Study of Societies
  • Abstract: The debate on economic 'globalization' suggests that the blurring of territorial boundaries shifts the power relations between nation-states and domestic market constituencies in favour of the latter. States have lost autonomy since policies are increasingly formulated in supranational or global arenas. Market actors may use their wider choice of geographic location in order to lobby for low regulated market environments. The paper seeks to differentiate this common view considerably. It argues that economic internationalization weakens the capacity of domestic market actors to engage in self-binding agreements that formerly had solved regulatory problems. Networks of interstate collaboration in turn lack the ability to monitor and enforce negotiated agreements. Both developments impose new duties of market supervision on the nation-state. Empirical reference is drawn from the stock exchange sector that went through a process of transformation which has led to an enhanced role of the nation-state in the model of sectoral governance.
  • Topic: Economics, Globalization, Government, International Trade and Finance
  • Author: Carlos A. Primo Braga, Robert M. Sherwood
  • Publication Date: 09-1996
  • Content Type: Working Paper
  • Institution: The North-South Center, University of Miami
  • Abstract: Intellectual property (IP) protection is becoming increasingly crucial in the context of new international commitments, the competition for private investments, and global “technology racing.” This paper examines the common base for a Western Hemisphere IP arrangement and notes the most prominent existing regional integration accords that include IP commitments. It assesses the recent Trade Related Intellectual Property (TRIPS) Agreement negotiated during the Uruguay Round of the General Agreement on Tariffs and Trade (GATT).
  • Topic: Development, Economics, International Law, International Trade and Finance
  • Author: Richard L. Bernal
  • Publication Date: 04-1996
  • Content Type: Working Paper
  • Institution: The North-South Center, University of Miami
  • Abstract: Strategic global repositioning is a process of r epositioning a country in the global economy by implementing a strategic plan. Such plans are designed to consolidate and improve existing production lines while reorienting the economy toward new types of economic activities. In most developing countries, this involves structural transformation (not adjustment) to achieve economic diversification, including export diversification. The need for strategic global repositioning derives from trends in the global economy that portend limited opportunities for industrialization in developing countries.
  • Topic: Development, Economics, International Trade and Finance, Political Economy
  • Author: Jon Faust
  • Publication Date: 12-1996
  • Content Type: Working Paper
  • Institution: U.S. Government
  • Abstract: Textbook approaches to forming asymptotically justified confidence intervals for the spectrum under very general assumptions were developed by the mid-1970s. This paper shows that under the textbook assumptions, the true confidence level for these intervals does not converge to the asymptotic level, and instead is fixed at zero in all sample sizes. The paper explores necessary conditions for solving this problem, most notably showing that under weak conditions, forming valid confidence intervals requires that one limit consideration to a finite-dimensional time series model.
  • Topic: Conflict Resolution, Economics, Education
  • Author: Jon Faust, John S. Irons
  • Publication Date: 11-1996
  • Content Type: Working Paper
  • Institution: U.S. Government
  • Abstract: While macroeconometricians continue to dispute the size, timing, and even the existence of effects of monetary policy, political economists often find large effects of political variables and often attribute the effects to manipulation of the Fed. Since the political econometricians often use smaller information sets and less elaborate approaches to identification than do macroeconometricians, their striking results could be the result of simultaneity and omitted variable biases. Alternatively, political whims may provide the instrument for exogenous policy changes that has been the Grail of the policy identification literature. In this paper, we lay out and apply a framework for distinguishing these possibilities. We find almost no support for the hypothesis that political effects on the macroeconomy operate through monetary policy and only weak evidence that political effects are significant at all.
  • Topic: Economics, Government, Political Economy, Politics
  • Author: Ann L. Owen, Murat F. Iyigun
  • Publication Date: 05-1996
  • Content Type: Working Paper
  • Institution: U.S. Government
  • Abstract: We show how the ability o accumulate human capital through formal education and through a learning-by-doing process that occurs on the job affects the dynamic behavior of the human capital stock under a liquidity constrained and a non-constrained case. When there are alternatives to formal schooling in the accumulation of human capital, investing resources in increasing school enrollment rates in low-income countries may not be the most efficient means of increasing the human capital stock. In addition, removal of the liquidity constraints may not be sufficient to escape a development trap.
  • Topic: International Relations, Economics, Education, International Trade and Finance
  • Author: Neil R. Ericsson, Kari H. Eika, Ragnar Nymoen
  • Publication Date: 10-1996
  • Content Type: Working Paper
  • Institution: U.S. Government
  • Abstract: Some recent studies have suggested constructing a Monetary Conditions Index (or MCI) to serve as an indicator of monetary policy stance. The central banks of Canada, Sweden, and Norway all construct an MCI and (to varying degrees) use it in conducting monetary policy. Empirically, an MCI is calculated as the weighted sum of changes in a short-term interest rate and the exchange rate relative to values in a baseline year. The weights aim to reflect these variables' effects on longer-term focuses of policy — economic activity and inflation. This paper derives analytical and empirical properties of MCIs in an attempt to ascertain their usefulness in monetary policy.
  • Topic: Economics, International Trade and Finance
  • Political Geography: Europe, North America