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17111. World Oil Security on a Precipice

Author:
Charles F. Doran
Publication Date:
03-2020
Content Type:
Journal Article
Journal:
Brown Journal of World Affairs
Institution:
Brown Journal of World Affairs
Abstract:
By attacking a major Saudi oil facility at Abqaiq on 13 September 2019, Iran established a new norm regarding oil security. Now, no oil field, pipeline, refinery, supertanker, or port facility is free from internecine warfare between oil-producing (OPEC) governments. Ironically, in attempting to defend a coun- try from supply interruption, the United States risks worsening the magnitude and scope of that supply interruption rather than preventing its occurrence. In the era of highly accurate drones and missiles, the old oil field motto “all oil comes from a single barrel” has taken on a newly negative connotation. World oil stability rests on a precipice. Both exporters and importers suffer from supply interruption, although perhaps not equally, universally, or simultaneously. Supply interruption may benefit those who have oil to sell through resultant oil price increases if their own exports have not been interrupted. The same cannot be said for buyers who, unless they are energy speculators on the futures market, ardently want to prevent supply interruption and the virtually certain subsequent (though sometimes not lasting) increase in price.
Topic:
Security, Markets, Oil, and Energy
Political Geography:
Global Focus and Gulf Nations

17112. Energy Futures: Oil and the Oil Industry

Author:
Richard A. Sears
Publication Date:
03-2020
Content Type:
Journal Article
Journal:
Brown Journal of World Affairs
Institution:
Brown Journal of World Affairs
Abstract:
Abundant affordable energy has built the world in which we live today. Machines and the chemical energy that drives them have made it possible for a small percentage of the population to produce enough food for many of us to be scientists, engineers, artists, and authors. We are only able to pursue our diverse interests because available energy multiplies human effort many times over. With all the good that has come with access to energy resources extracted from the Earth, there is also an environmental price, which impacts our land, water, and air. My intent here is not to debate the merits of our current energy system; it is the reality in which we exist. Humans and human society have become de- pendent on energy in so many ways that we cannot simply undo what we have and flip overnight to alternatives that we believe preserve the benefits without the costs. The scale of our global energy use is enormous, and the infrastruc- ture we have built to deliver that energy and convert it to useful work has been developed over more than a century. It will realistically take several decades for energy alternatives to grow to replace the major sources of primary energy that we utilize today; similarly, it will take many decades to rebuild our energy infrastructure to efficiently utilize new sources of primary energy.1
Topic:
Climate Change, Oil, Renewable Energy, Industry, and Energy
Political Geography:
Global Focus

17113. Reflections on the U.S.–Mexico Relationship

Author:
Gerónimo Gutiérrez Fernandez
Publication Date:
03-2020
Content Type:
Journal Article
Journal:
Brown Journal of World Affairs
Institution:
Brown Journal of World Affairs
Abstract:
Gerónimo Gutiérrez Fernández served as Mexico’s Ambassador to the United States (2017-2018). He played a prominent role in the negotiation of the United States of America, Mexico and Canada Agreement (USMCA). Currently, he is managing partner of BEEL Infrastructure, a specialized advisory & asset management firm focused on the infrastructure sector in Latin America. He also provides strategic advice to businesses and governments on political risk, public affairs and communications and business development; and serves in the Board of Directors of U.S. – Mexico Business Association (AEM) and the Advisory Board of the Woodrow Wilson Center’s Mexico Institute.
Topic:
Foreign Policy, Diplomacy, Bilateral Relations, and Trade
Political Geography:
North America, Mexico, and United States of America

17114. The Implication of Teenage Pregnancies in Eswatini: A Trend and Spatial Analysis

Author:
N. Dlamini
Publication Date:
12-2020
Content Type:
Working Paper
Institution:
Eswatini Economic Policy Analysis and Research Centre (ESEPARC)
Abstract:
This study assesses the extent of teenage pregnancy in Eswatini with a focus on public schools in the constituencies and region. In addition, the study examines which regions are affected by teenage pregnancies and adopts a Generalised Ordered Logit Model to determine the likelihood of teenage pregnancies across the regions in Eswatini. The study locates the Hhohho and Manzini regions as high teenage pregnancy areas and further identifies mothers in Lubombo and Shiselweni as more vulnerable to repeat births. Not surprisingly, the study finds that teenage pregnancies occur in Eswatini’s poverty-stricken areas - where there are low economic activities and the households are experiencing low incomes. These are places such as Madlangempisi, Ngwempisi, Sigwe, and Lomahasha. Teenage pregnancies occur when learners are idle during school holidays. The government is advised to consider intensifying policies and programmes geared towards reducing or eradicating teenage pregnancies in Eswatini. Such policies should deliberately target rural areas and focus on creating employment opportunities to relieve households from low incomes.
Topic:
Education, Vulnerability, Dropout Prevention, and Pregnancy
Political Geography:
Africa and Eswatini

17115. Financial Inclusion in Eswatini: What is Driving the Adoption of Mobile Money?

Author:
T. Magongo
Publication Date:
08-2020
Content Type:
Working Paper
Institution:
Eswatini Economic Policy Analysis and Research Centre (ESEPARC)
Abstract:
Mobile money has gained increasing importance and prominence in many sub-Saharan African countries and as a result, it is seen as a possible key to fast-tracking financial inclusion in developing countries including Eswatini. Although financial inclusion rates have improved considerably in Eswatini, the adoption of mobile money is still relatively low in the country compared to other countries in subSaharan Africa, yet a majority of the population knows about the technology. This study investigates the driving factors of mobile money adoption in Eswatini using a logit and probit analysis based on the 2014 FinScope Financial Access and Consumer Survey. Findings reveal that the likelihood of using mobile money increases with increasing levels of financial literacy, education, sending and receiving remittances using mobile money, usage of informal financial products, living in an urban area, and adjusting income during times of shock. Results suggest opportunities for financial inclusiveness such as designing and implementation of financial literacy education and money management programs, purposely targeting the underserved population (rural), as well as informal financial product usage formalization.
Topic:
Development, Economics, Finance, and Inclusion
Political Geography:
Africa and Eswatini

17116. Climate Change and Populism: Comparing the populist parties’ climate policies in Denmark, Finland and Sweden

Author:
Antto Vihma, Gunilla Reischl, Astrid Nonbo Andersen, and Sofie Berglund
Publication Date:
06-2020
Content Type:
Special Report
Institution:
Finnish Institute of International Affairs
Abstract:
The rise of populism has disrupted established patterns of party competition in many Western societies. Related to this development, the current debates in the US and EU illustrate how empirical science on climate change may become intensively politicized, and all ambitious climate policies challenged, in the contemporary political landscape. This may take place notwithstanding the mounting evidence on the certainty of climate change and its disastrous consequences. This FIIA report investigates populist resistance to ambitious climate change policy in the Nordic context, where countries have sought to assume global leadership on climate politics and have considerable public support for climate action. In an analysis of the positions of authoritarian populist parties in Denmark, Finland and Sweden the report sheds light on how climate change is currently politicized. It also sets out an analytical framework of various political strategies for opposing ambitious climate policies: climate science denialism, climate policy nationalism and climate policy conservativism.
Topic:
Climate Change, Governance, Populism, and Political Parties
Political Geography:
Europe, Finland, Denmark, and Sweden

17117. Financing Public Private Partnerships (PPPs) in Botswana Through The Capital Market

Author:
Kelesego Mmolainyane
Publication Date:
03-2020
Content Type:
Working Paper
Institution:
Botswana Institute for Development Policy Analysis
Abstract:
In her quest to further graduate to the high-income status, Botswana seeks to invest more in infrastructure development for both productive and social use. An efficient and effective infrastructure provision is fundamental to excellent public service delivery and access. Sadly, Botswana, like many other world economies, has a challenge of having an infrastructure financing gap. One of the innovative ways to fill this gap is through public private partnerships (PPPs) with the capital market that has excess liquidity. Infrastructure PPPs are complex and capital intensive projects that require project finance experts to advise parties involved regarding returns and risks associated with each project. Various project-financing models can be designed to suit project specifications and they cannot be over-generalised for all PPP projects. Nevertheless, given the tight fiscal space, Botswana now, more than ever, should consider issuing PPP bonds and applying user changes model to finance economic PPP infrastructure for sustainable and inclusive economic growth.
Topic:
Markets, Infrastructure, Finance, Capital, and Public-Private Partnership
Political Geography:
Africa and Botswana

17118. How Non-Diamond Exports Respond to Exchange Rate Volatility in Botswana

Author:
Johanne Motsatsi
Publication Date:
03-2020
Content Type:
Working Paper
Institution:
Botswana Institute for Development Policy Analysis
Abstract:
This paper estimates the impact of exchange rate volatility on non-diamond exports in Botswana using an Autoregressive Distributed Lag (ARDL) model. The model used quarterly data for the period 1995-2018, to estimate both the long and short run dynamics. The estimated results show that real GDP in the non-diamond sector, GDP growth of OECD countries, transport investment and water & electricity investment have a positive impact on non-diamond exports. While the lending interest rate, inflation differentials, exchange rate volatility and misalignment impact non-diamond exports negatively. The findings indicate that the coefficients with respect to the exchange rate volatility in both models are relatively low, suggesting that it has not had harmful impacts on non-diamond exports. This reflects the emphasis given to a stable and competitive exchange rate that will attract increased foreign demand which, as a result, could lead to export diversification. However, Botswana’s export structure is still undiversified, despite efforts made to diversify the sector. To achieve the national objectives of sustainable export and economic diversification, the policy should continue encouraging a stable and competitive exchange rate. Other policies intended to boost export growth should focus on: expanding the production base of the non-diamond sector, committing more investment in the transport sector, and improving water & electricity infrastructure.
Topic:
Economy, Exchange Rate Policy, Exports, and Diamonds
Political Geography:
Africa and Botswana

17119. Ordinary Shareholders’ Rights Protection in Botswana

Author:
Ratang Sedimo
Publication Date:
03-2020
Content Type:
Working Paper
Institution:
Botswana Institute for Development Policy Analysis
Abstract:
This study seeks to examine institutional frameworks that exist in Botswana to protect the rights of ordinary shareholders. There is no literature on the subject matter in the context of Botswana; hence this study attempts to fill in the literature gap. The study uses a variety of data collection methods, such as semi-structured interviews, the Choppies case study and lessons learnt from other jurisdictions. Findings reveal that ordinary shareholders’ rights protection involves the use of institutional frameworks. In Botswana, existing frameworks are not adequate to protect ordinary shareholders’ rights. Furthermore, the study shows that ordinary shareholders in Botswana are mainly exposed to risks of losing their investments, partially or entirely, in case of non-compliance to regulatory requirements as shown by the reduction in Choppies’ stock price from P1.20 to P0.40 between years 2012 and 2018. The study suggests that the existing institutional frameworks should be reviewed to ensure adequate protection of ordinary shareholders’ rights.
Topic:
Economy, Institutions, and Shareholder Value
Political Geography:
Africa and Botswana

17120. Key Drivers of Industrial Growth A Case Study of Botswana’s Manufacturing Sector

Author:
Goitseone Khanie
Publication Date:
03-2020
Content Type:
Working Paper
Institution:
Botswana Institute for Development Policy Analysis
Abstract:
The paper examines the key determinants of industrial growth in Botswana, using manufacturing sector value added as the proxy for industrial growth. It employs the Autoregressive Distributed Lag (ARDL) cointegration approach using annual time series data for the period 1983 to 2015. Empirical results show that industrial growth is driven by financial sector development, human capital development, trade openness and foreign direct investment. Specifically, domestic credit to the private sector as a percentage of GDP and secondary school enrolment ratio are found to be significantly related to manufacturing value added as a percentage of GDP both in the long run and short run. While the relationship is limited to long run for total trade to GDP, it only exits in the short run for FDI net inflows. The study therefore recommends that policy makers should design and ensure proper implementation of financial sector development strategies that can help ease access to credit for manufacturing enterprises in the country. There is also a need for a holistic approach in the design and implementation of innovation and human resource development policies in order to provide a conducive environment for skills acquisition, innovation and technological advancements in the manufacturing sector. Trade policies and export promotion strategies should heighten productivity and value addition in the manufacturing sector, so as to make local firms internationally competitive. Finally, with regards to FDI, the Government of Botswana should create an environment that could entice multinationals to invest in the local manufacturing industry. This, however, should be coupled with protectionist policies to avoid crowding out local manufacturers and exposing them to foreign competition.
Topic:
Industrial Policy, Foreign Direct Investment, Economic Growth, Manufacturing, and Trade
Political Geography:
Africa and Botswana