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  • Author: Joseph Gagnon
  • Publication Date: 03-2018
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: Many countries have squandered their natural resource endowments. The International Monetary Fund and the World Bank routinely hector developing economies to save and invest more of their revenues from resources such as oil and gold for the benefit of future generations after the resources run out. But, can a country save too much of its resource revenues? Gagnon argues that since the first capital transfers to its Government Pension Fund Global in 1996, Norway has saved more than was needed to raise consumption of all generations equally. Norway’s excess saving imposes a cost on the rest of the world during periods of weak aggregate demand and ultralow interest rates. Gagnon proposes a counterfactual saving policy that would have increased Norway’s household consumption by nearly 9 percent on average from 1996 through 2017. The proposed policy would have reduced Norway’s current account surplus by more than one-third, or $13 billion per year on average, from 1996 through 2017. Even now, Norway could raise current consumption by more than US$2,000 per capita, while keeping the contribution of oil wealth to future generations equally large.
  • Topic: International Affairs
  • Political Geography: Norway
  • Author: Robert Z. Lawrence
  • Publication Date: 03-2018
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: President Trump has asserted that trade balances are a key measure of a nation’s commercial success and that large US trade deficits prove that past trade approaches have been flawed. But trade deficits are not in fact a good measure of how well a country is doing with respect to its trade policies. Many of the assumptions on which the administration’s beliefs rest are not supported by the evidence. This Policy Brief argues that trade deficits are not necessarily bad, do not necessarily cost jobs or reduce growth, and are not a measure of whether foreign trade policies or agreements with other countries are fair or unfair. Efforts to use trade policy and agreements to reduce either bilateral or overall trade deficits are also unlikely to produce the effects the administration claims they will and instead lead to friction with US trading partners, harming the people the policies claim to help
  • Topic: International Political Economy
  • Political Geography: Global Focus
  • Author: Tetyana Payosova, Gary Clyde Hufbauer , Jeffrey Schott
  • Publication Date: 03-2018
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: Since its inception in 1995, the World Trade Organization’s (WTO) dispute settlement mechanism has resolved an impressive number of trade disputes and has earned a reputation as the “crown jewel” of the global trading system. Today, however, the mechanism is in crisis. WTO members have failed to negotiate updates to the rulebook, including rules on dispute settlement itself. As a result, the WTO Appellate Body increasingly is asked to render decisions on ambiguous or incomplete WTO rules. Its interpretations of such provisions have provoked charges by the United States and others that binding Appellate Body rulings, which establish precedents for future cases, effectively circumvent the prerogative of member countries to revise the WTO rulebook and thus undercut the national sovereignty of WTO members. For the past few years, US officials have blocked appointments of Appellate Body members to force WTO members to negotiate new rules that address US concerns and limit the scope for judicial overreach. If this problem is not resolved, the Appellate Body soon will not have enough members to review cases and the vaunted WTO dispute settlement system will grind to a halt.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Olivier Blanchard, Christopher G. Collins, Mohammad R Jahan-Parvar, Thomas Pellet
  • Publication Date: 03-2018
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: Immediately following the US presidential election in November 2016, many economists were concerned that increased uncertainty over economic policy would lead to a decline in the US stock market. From the time of the election to the end of 2017, however, the stock market, as measured by the Standard and Poor's (S&P) 500 index, increased by about 25 percent. Price swings since then have led investors and economists to increasingly ask: Was the stock market rise justified by an increase in actual and expected future dividends, or did it reflect unhealthy price developments, which may reverse in the future?
  • Topic: International Political Economy
  • Political Geography: Global Markets
  • Author: William R Cline
  • Publication Date: 02-2018
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: The centerpiece of the Tax Cuts and Jobs Act (TCJA) of 2017 is the reduction in the corporate tax rate from 35 percent to 21 percent. The Joint Committee on Taxation has estimated the net revenue loss from the tax overhaul at $1 trillion over the next decade. The underlying premise of the legislation is that lower corporate taxes will spur growth, with trickle-down wage benefits that spread the resulting economic gains.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Martin Chorzempa
  • Publication Date: 02-2018
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: Formidable barriers stand between the modern financial system and the hundreds of millions of Chinese citizens still using costly informal credit. For many, the financial data that could be used to give them a credit score that would lead to a fair priced loan exist but are not being used. This analysis finds that the most difficult barriers cutting these data off from their potential use for greater financial inclusion are the legal and political restrictions on data sharing and use, economic and competitive concerns from data holders, and the technical difficulty of integrating disparate systems. Policies that encourage coordination between public authorities and private actors in finance and technology can go a long way towards making these data available and driving access to credit in China. This shift would not only help borrowers: It would also encourage the needed economic rebalancing towards consumption, increase competition in the financial sector, raise efficiency through better credit allocation, and contribute to sustainable economic growth and social welfare.
  • Topic: International Political Economy
  • Political Geography: Global Focus
  • Author: Jacob Funk Kirkegaard
  • Publication Date: 02-2018
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: Few challenges facing the European Union—immigration pressures, the need to decrease security dependence on an increasingly erratic United States, and the United Kingdom's exit from the European Union (Brexit)—are compelling EU leaders to consider overhauling the revenue side of the European Union’s existing budget. To deal with these challenges in the future, the European Union will need resources—at a time when Europeans are increasingly skeptical about the effectiveness of budget-making in Brussels. Longstanding US budgetary procedures of trust fund accounting and earmarking government revenue towards specific priorities can provide a template for European policymakers. Shifting the EU budget towards more earmarked resources would reduce distrust among taxpayers by limiting Brussels’ spending discretion while focusing expenditures on specific challenges facing the European project.
  • Topic: International Political Economy, International Affairs
  • Political Geography: Europe
  • Author: Wojciech Lorenz
  • Publication Date: 04-2018
  • Content Type: Policy Brief
  • Institution: The Polish Institute of International Affairs
  • Abstract: Russia’s annexation of Crimea triggered a shift in NATO’s policy towards Georgia. NATO moved from mainly political support for Georgia’s NATO membership aspirations to enhanced practical military cooperation. Although it might be more difficult for Russia to coerce its small neighbour, the lack of visible progress on the path to NATO membership may weaken Georgian morale and lead to a reversal of democratic gains. Hence, it is important that during the 2018 NATO Summit in Brussels the Allies offer additional support to help Georgia increase its resilience.
  • Topic: International Affairs
  • Political Geography: Georgia
  • Author: Łukasz Ogrodnik
  • Publication Date: 03-2018
  • Content Type: Policy Brief
  • Institution: The Polish Institute of International Affairs
  • Abstract: Austria’s government has declared it will be a bridge-builder in the European Union between its western and eastern members. This is in fact rather more an endorsement of the Union cohesion on the eve of Austria’s presidency of the EU Council than a genuine offer to represent the Visegrad states’ interests in the EU. Vienna is also trying to strengthen its position in Central Europe using regional cooperation initiatives such as the Slavkov Triangle, Three Seas Initiative, and the V4+ format. However, Austria’s pro-Russia stances and economic conflicts of interest have burdened relations with regional partners. Common goals remain limited but include the development of transport infrastructure, an endorsement of the European integration of the Western Balkans and strengthening the EU’s external borders.
  • Topic: International Affairs
  • Political Geography: Austria
  • Author: Justyna Szczudlik
  • Publication Date: 03-2018
  • Content Type: Policy Brief
  • Institution: The Polish Institute of International Affairs
  • Abstract: In his first term, Chinese leader Xi Jinping abandoned Deng Xiaoping’s foreign policy dictum of “keeping a low profile.” But China’s activism in the middle of Xi’s first term was still more reactive than creative. However, in the last two years a new phase of diplomacy has emerged, in which all actions are subordinated to China’s unchanging strategic foreign policy goal of regaining its superpower status. This means that China strives to enforce change in the global system, which is dominated by the West.[1] The PRC is already trying to introduce new standards for international relations and promotes its values and principles more aggressively worldwide. There are already examples that Xi is effectively implementing his ideas.
  • Topic: International Affairs
  • Political Geography: China
  • Author: Johannes Lang, Robin May Schott, Rens van Munster
  • Publication Date: 03-2018
  • Content Type: Policy Brief
  • Institution: Danish Institute for International Studies
  • Abstract: Formal UN discussions have begun to address how the international community should regulate the development and use of lethal autonomous weapons – also known as ‘killer robots’. Denmark has so far chosen not to participate in these discussions, but there are good reasons to get involved.
  • Topic: International Affairs, Weapons
  • Political Geography: Global Focus
  • Author: Peter Albrecht
  • Publication Date: 03-2018
  • Content Type: Policy Brief
  • Institution: Danish Institute for International Studies
  • Abstract: Elections in Sierra Leone will not change the circumstances that have led to war in the country – and already marginalized citizens stand to lose. The greatest concern is not the election, but the deep-seated patronage networks that govern the country.
  • Topic: International Affairs
  • Political Geography: Sierra Leone
  • Author: Johannes Lang, Rens van Munster, Robin May Schott
  • Publication Date: 02-2018
  • Content Type: Policy Brief
  • Institution: Danish Institute for International Studies
  • Abstract: Disagreements on how to define “autonomy” are stalling formal UN discussions on the compliance of autonomous weapons with international humanitarian law. A pragmatic approach that focuses on the weapon’s critical functions, such as target selection and firing, can help move discussions forward in the future.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Author: Jairo Munive, Finn Stepputat
  • Publication Date: 01-2018
  • Content Type: Policy Brief
  • Institution: Danish Institute for International Studies
  • Abstract: Armed non-state actors are significant players in most conflicts. The international community is often forced to engage with them in order to secure humanitarian aid for civilians or to end armed political conflicts. The question of when and how to engage is being debated. We sug­gest a more pragmatic approach.
  • Topic: International Affairs
  • Political Geography: Global Focus
  • Publication Date: 02-2018
  • Content Type: Video
  • Institution: Al Jazeera
  • Abstract: For democracies to flourish and succeed, voters need accurate information on which to base their decisions; to weigh up the relative merits of proposed policy A over proposed policy B, to judge whether this candidate is more trustworthy or reliable than that one, or that these promises are more likely to be kept than those. But recent elections, most notably that of Donald Trump as US President, have highlighted the dangers to this process posed by those using social media and the internet to spread malevolent propaganda and fake news.
  • Topic: Corruption, Democracy, Post Truth Politics
  • Political Geography: Global Focus
  • Author: Eswar Prasad
  • Publication Date: 01-2018
  • Content Type: Video
  • Institution: The Brookings Institution
  • Abstract: Brookings Senior Fellow Eswar Prasad unpacks the impact of the new steel and aluminum tariffs proposed by the Trump administration. He explains that the new tariffs have undermined America’s leadership as proponents of free trade and will decrease America’s economic influence across the globe.
  • Topic: International Political Economy
  • Political Geography: America
  • Author: Mara Karlin
  • Publication Date: 03-2018
  • Content Type: Video
  • Institution: The Brookings Institution
  • Abstract: Brookings Nonresident Senior Fellow Mara Karlin unpacks the roles of the wide array of actors in the Syrian military and humanitarian crisis as it continues and grows more complicated every day. She explains that the United States must clearly define its prime objectives in the Middle East as it becomes increasingly clear that the Bashar Assad regime will stay in power and that ISIS is on its way to complete military defeat.
  • Topic: International Affairs, War Crimes
  • Political Geography: Syria
  • Publication Date: 02-2018
  • Content Type: Video
  • Institution: The Brookings Institution
  • Abstract: On February 7, David Frum joined a panel of experts at Brookings to discuss the burgeoning threats to democratic institutions in the Trump era.
  • Topic: International Affairs, Democracy
  • Political Geography: America
  • Publication Date: 06-2018
  • Content Type: Video
  • Institution: Atlantic Council
  • Abstract: Please join us on Tuesday, June 26 from 9:00 a.m. to 11:00 a.m. for a tour of the world’s most innovative places and a discussion on what today’s technology trends mean for the future security and prosperity of the United States. During this event, we will launch a new report: The Global Innovation Sweepstakes: A Quest to Win the Future. The Atlantic Council’s Scowcroft Center for Strategy and Security, in partnership with Qualcomm, embarked on a global tour of technology hubs to determine which ones are at the cutting edges of tech-based innovation—and which are at risk of falling behind. Our researchers visited nearly a dozen countries and spoke with almost two hundred experts. Will China overtake the United States? Can Europe rise to the challenge? Why are small states often the most innovative? This new report seeks to answer these questions—and others raised by the unfolding technological revolution. It also provides policy recommendations for research and development, skills training, technology transfer, diversity, education, and more.
  • Topic: International Political Economy, Science and Technology, International Affairs
  • Political Geography: Global Focus
  • Publication Date: 01-2018
  • Content Type: Country Data and Maps
  • Institution: Economist Intelligence Unit
  • Abstract: No abstract is available.
  • Topic: Economy, Economic structure, Charts and tables, Annual indicators
  • Political Geography: Togo