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Begin New Search Topic Economics Political Geography Asia Publishing Institution Centre for International Governance Innovation Publication Year within 10 Years

1. Capital Flows and Capital Account Management in Selected Asian Economies

Author:
Rajeswari Sengupta and Abhuit Sen Gupta
Publication Date:
04-2015
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
Gross capital inflows and outflows to and from emerging market economies have witnessed a significant increase since the early 2000s. This rapid increase in the volume of flows, accompanied by sharp swings in volatility, has amplified the complexity of macroeconomic management in emerging economies. This paper focuses on capital flows in selected emerging Asian economies, analyzing surge and stop episodes as well as changes in the composition of flows across these episodes, then evaluating the policy measures undertaken by these economies in response to the surge and stop of capital flows. This kind of analysis is highly relevant, especially at a time when emerging economies around the world are facing the repercussions of a potential monetary policy normalization in the United States and continuing quantitative easing measures by the European Central Bank, either of which could once again heighten the volatility of cross-border capital flows, thereby posing renewed macroeconomic challenges for major EMEs.
Topic:
Economics, Emerging Markets, International Trade and Finance, and Monetary Policy
Political Geography:
Asia

2. China's Long March Toward Economic Rebalancing

Author:
Hongying Wang
Publication Date:
04-2014
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
China's role in the global imbalance is closely linked to its domestic imbalance. Chinese policy makers have long been aware of the dual imbalance and the imperative to shift to economic growth driven by domestic consumption. They have taken limited steps in changing the development model, but political obstacles have slowed the pace of reform. The new leadership seems serious about deepening economic reform despite political resistance, but without political reform, the prospect of success remains dim.
Topic:
Economics, International Trade and Finance, Monetary Policy, and Governance
Political Geography:
China and Asia

3. Development: Advancement through International Organizations

Author:
Rohinton Medhora and David Malone
Publication Date:
05-2014
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
The familiar world of international organizations principally devoted to development has been upended by two phenomena. First is the emergence of sustained economic success in the developing world (mostly in Asia, but increasingly also in Africa and, in a less spectacular way, Latin America) amid compelling, continuing need among the world's poor. Second, the slow-moving, serious financial and economic crisis of the industrialized world since 2008 has reordered priorities in many of their capitals toward domestic spending and away from costly international projects.
Topic:
Development, Economics, International Cooperation, International Organization, and Financial Crisis
Political Geography:
Africa, Asia, United Nations, and Latin America

4. Let Bygones Be Bygones: The Case for India's Inclusion in APEC

Author:
Kevin Carmichael
Publication Date:
11-2014
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
Canadian Prime Minister Stephen Harper will miss the 2014 Beijing APEC summit. His former spokesman says it does not matter. "[I]t's safe to say that Canada won't lose out by skipping this particular summit, at this particular time, for this particular reason," Andrew McDougall (2014) wrote in an opinion article posted on the Canadian Broadcasting Corporation's (CBC's) website on November. In early October, a US State Department official told an audience in Washington, DC that Beijing was shaping up to be a "good" summit, in part because US President Barack Obama was planning to attend after missing the previous two APEC leaders' meetings (Wang 2014).
Topic:
Economics and Regional Cooperation
Political Geography:
United States, India, and Asia

5. Sovereign Debt Restructuring: Old Debates, New Challenges

Author:
James A. Haley
Publication Date:
05-2014
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
Ten years ago, in the wake of the Asian financial crisis and subsequent Argentine default, the international community debated how to best promote the timely, effective restructuring of sovereign debt. The debate then focused largely on the relative merits of a so-called statutory approach for sovereign restructurings, with features of domestic bankruptcy regimes, versus the voluntary use of contractual terms designed to facilitate restructurings. At the time, the statutory approach did not have the support necessary to move from proposal to policy and efforts to improve the framework of sovereign debt restructuring rested on the contractual approach.
Topic:
Economics, International Trade and Finance, and Financial Crisis
Political Geography:
Asia

6. Power Shift and Renminbi Internationalization: Recommendations for the G20

Author:
Raluca Diana Ardelean and Mengun Zhang
Publication Date:
07-2014
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
China has gained substantial economic power in recent years, becoming the second-largest trading nation after the United States and the largest goods-trading nation since 2012 (Eichengreen 2014). It is also currently the largest source of savings and the largest potential source of capital for international investment (ibid.). Measured by GDP, China is now the second-largest economy in the world (see Figure 1), and the World Bank surmises it is likely to surpass the United States in 2014 (World Bank 2014). Because of China's growing economic importance, a shift in power is reasonably assumed. As its economic power grows, internationalization of the RMB has become a key policy goal for China, especially after the 2008 financial crisis (Zhang 2009; Park 2010; China Securities Regulatory Commission [CSRC] 2014). This goal demonstrates China's desire for better integration and representation in the international economic community and signals its willingness to perform internal financial reforms and take more responsibility in global economic affairs.
Topic:
Economics, International Trade and Finance, and Monetary Policy
Political Geography:
United States, China, and Asia