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5701. Inward FDI in Germany and its policy context, 2012

Author:
Thomas Jost
Publication Date:
04-2013
Content Type:
Working Paper
Institution:
Columbia Center on Sustainable Investment
Abstract:
In 2011 and the first half of 2012, inward FDI (IFDI) flows to Germany continued to be relatively strong. Germany attracte market-seeking MNEs, as its economy showed remarkable economic growth despite the ongoing problems in many other countries of the Eurozone. In the second half of 2012, IFDI flows turned sharply negative, declining for the year as a whole to only US$ 7 billion, compared with US$ 49 billion in 2011. This decline reflects the difficult financial situation of many companies, including banks in the Eurozone, and could also dampen inflows in 2013. In the longer-term, Germany could profit again from rising FDI as its economy has successfully implemented reforms over the past decade, and the German Government has continued to keep its investment policy regime open.
Topic:
Economics, International Trade and Finance, Markets, and Foreign Direct Investment
Political Geography:
United States, Europe, and Germany

5702. The Rise of Latin America : Public Innovation for Good Governance

Author:
Ania Calderón and Sergio Fajardo
Publication Date:
05-2013
Content Type:
Journal Article
Journal:
Journal of International Affairs
Institution:
School of International and Public Affairs, Columbia University
Abstract:
The vision of an academic-turned-politician has brought a stream of creativity to local public administration in Colombia. It is said that disruptive innovation occurs at the edge of disciplines. And Sergio Fajardo, mathematician and former journalist, has managed to leverage such cross-discipline dialogues and energize communities to engage with public planning objectives. As mayor of Medellín in Colombia from 2004 to 2007, he "introduced transparency fairs, broke clientelistic political networks, raised tax receipts, improved public services, established civic pacts and restored citizens' sense of hope," and the Inter-American Development Bank recognized the city as an exemplary case of good public administration in Latin America. Furthermore, Medellín was recently named the world's most innovative city in a competition organized by the non-profit Urban Land Institute. In the following interview with Ania Calderón of the Journal, Dr. Fajardo highlights the importance of building trust in society to face the public management challenges of developing countries in Latin America and explains how, as governor of the state of Antioquia, the scale of impact he now faces at a regional versus local level can be tackled with the same mission, but carried under a different leadership role.
Political Geography:
Europe, Colombia, and Latin America

5703. Economic and Industrial Cooperation Between France and Germany: Assessment and Future Prospects

Author:
Jean-Marc Trouille
Publication Date:
04-2013
Content Type:
Journal Article
Journal:
German Politics and Society
Institution:
German Politics and Society Journal
Abstract:
Economy and industry have traditionally been major stakes within the Franco-German relationship. This article examines French and German economic and industrial relations, and their importance for these countries' joint leadership in Europe. It investigates the level of economic interdependence and of macroeconomic convergence between the two largest Eurozone economies, industrial cooperation between French and German companies, discrepancies in their trade relations and investment flows, divergences in their respective economic and industrial policies, and the dichotomy between partnership and rivalry in their long-standing relationship. Finally, this article assesses the risk of increasing fiscal and industrial imbalance between the two economies and draws conclusions on its implications for the Franco-German entente in Europe.
Topic:
Economics
Political Geography:
Europe, France, and Germany

5704. The Élysée Treaty and European Integration Theory

Author:
Yannis Karagiannis
Publication Date:
04-2013
Content Type:
Journal Article
Journal:
German Politics and Society
Institution:
German Politics and Society Journal
Abstract:
According to neoliberal institutionalism, states create international institutions to limit information asymmetries, monitor compliance, and ensure the credibility of commitments to agreed-upon policies-in short, to minimize transaction costs. Although this view can help explain the delegation of powers to supranational bodies such as the European Commission, it cannot account for the signature of the Élysée Treaty between France and Germany in January 1963, which reversed the logic of supranational delegation. Understanding the causes and the consequences of this apparently anomalous event is therefore a major challenge facing scholars of international organizations, European integration, and German foreign policy alike. To start addressing the issue, this article develops an explanation based on incomplete contracts theory. In a nutshell, I argue that the Élysée Treaty aimed at securing the equal treatment of French and German interests in the process of European integration, thereby allowing the deepening of European integration.
Topic:
Foreign Policy
Political Geography:
Europe, France, and Germany

5705. Sarkozy and Merkel: The Undeniable Relevance of the Franco-German Bilateral Relationship in Europe

Author:
Francesca Vassallo
Publication Date:
04-2013
Content Type:
Journal Article
Journal:
German Politics and Society
Institution:
German Politics and Society Journal
Abstract:
In 2013 France and Germany will celebrate the fiftieth anniversary of the Élysée Treaty, signed by the two countries to create a close collaboration in the interest of peace and prosperity. Over the course of five decades, different couples of French Presidents and German Chancellors have dealt with the Paris-Berlin relationship in slightly different ways, some with more success than others. Despite the many changes in the European context and to the balance in the alliance between France and Germany, the initial motivation and meaning of the treaty remains astonishingly valid today, especially in light of its positive contribution to European integration. Even with many possible factors weakening the two countries' core relations, the Franco-German duo retains its historically dominant influence in successful European governance, as the recent Merkozy situation showed.
Political Geography:
Europe, France, Germany, and Berlin

5706. Challenges and Opportunities: Aviation Emissions and the European Cap Trade System

Author:
Joshua Meltzer
Publication Date:
03-2013
Content Type:
Journal Article
Journal:
Georgetown Journal of International Affairs
Institution:
Georgetown Journal of International Affairs
Abstract:
On January 1, 2012, the European Union extended its cap and trade system, the Emissions Trading Scheme (ETS), to include CO2 emissions from all airlines arriving in and departing from EU airspace. The EU has claimed that this unilateral action was in response to the slow progress towards reaching a global deal. However, the EU remains committed to reaching a global solution to the problem of aviation emissions and hopes that including international aviation in the ETS will spur action. These additions to the ETS led the EU to take positions on a number of important policy issues that remain unresolved in the international climate change negotiations. These include issues such as how to attribute CO2 emissions from aviation to countries and how to operationalize the environmental principle of common but differentiated responsibilities (CBDR) – the notion that developed countries will do more to reduce their CO2 emissions than developing countries. Moreover, as many of these issues are also applicable to the broader UN climate change negotiations, the success or failure of the ETS approach to international aviation could affect progress in the wider climate change negotiations. This article outlines how the EU has designed its system to address these challenges. It also provides an overview of the challenges to reaching a global deal on regulating CO2 emissions from international aviation. The final part of the paper considers the current state of international negotiations over aviation emissions and suggests pathways forward.
Topic:
Climate Change
Political Geography:
Europe

5707. Clash of Elites: What Lies Behind the Defamation Debates

Author:
Mark P. Lagon and Ryan Kaminski
Publication Date:
03-2013
Content Type:
Journal Article
Journal:
Georgetown Journal of International Affairs
Institution:
Georgetown Journal of International Affairs
Abstract:
Since Samuel Huntington's 1993 article warning of inter-civilizational conflict, pundits and policymakers alike have been quick to forecast a so-called “clash of civilizations.” This has become especially common following 9/11, with warnings of a unitary Islam pitted against a unified West. Yet a clear-eyed assessment reveals that the West includes Muslim-majority regions and the often fractious United Nations; this divisive vision is as incorrect as it is unhelpful. In his address to the UN General Assembly in September 2012, President Barack Obama argued that freedom of speech and tolerance transcends civilizational, cultural, and religious fault lines. “Together, we must work towards a world where we are strengthened by our differences and not defined by them. That is what America embodies, that's the vision we will support,” declared Obama. In direct opposition to those favoring limitations on the freedom of expression or the imposition of blasphemy charges, the president noted, “The strongest weapon against hateful speech is not repression, it is more speech – the voices of tolerance that rally against bigotry and blasphemy and lift up the values of understanding and mutual respect.” Setting the stage for Obama's remarks was what can roughly be termed as a global panic attack with peaceful, semi-violent, and violent protests about a video spreading from Europe, Africa, the Middle East, and Asia. In the face of the unmistakable energy and vigor associated with protests, however, many were left confused how a shabbily crafted video, Innocence of Muslims, with a skeletal budget, and miniscule opening audience to match, could instigate such a worldwide conflagration.
Topic:
United Nations
Political Geography:
Africa, America, Europe, Middle East, and Asia

5708. EU Foreign Policy and Political Islam: Towards a New Entente in the Post-Arab Spring Era?

Author:
Timo Behr
Publication Date:
04-2013
Content Type:
Journal Article
Journal:
The International Spectator
Institution:
Istituto Affari Internazionali
Abstract:
The rise of political Islam in the EU's southern neighbourhood represents a political as well as conceptual challenge to the EU as a foreign policy actor. In the past, the EU reacted to this challenge based on its essentialist perception of political Islam and its overarching interest in regional stability and security. However, the growing salience of 'contingencist' interpretations of political Islam and the resolution of the EU's democratisation-stabilisation dilemma in the wake of the Arab Spring have recently provided an opportunity for greater engagement and cooperation. This has enabled a switch in EU policies from a strategy of containment to a strategy of engagement. Despite this, problems remain as the EU continues to expect Islamist actors to adjust to its own discursive framework and as intra-European divisions revive as a result of the renewal of secular-religious divisions in the neighbourhood. This will complicate EU attempts to build a new partnership with Islamist democracies and will fuel old stereotypes and animosities.
Topic:
Foreign Policy and Islam
Political Geography:
Europe and Arabia

5709. Identity, Solidarity, and Islam in Europe

Author:
Erik Jones
Publication Date:
04-2013
Content Type:
Journal Article
Journal:
The International Spectator
Institution:
Istituto Affari Internazionali
Abstract:
Populists argue that Islamic immigrants are fundamentally different from Europeans. As evidence, they point to notions of religious and cultural identity. Such arguments have popular resonance. As more mainstream politicians pick up on these themes, they begin to take on an air of common sense. Nevertheless, they are mistaken. Europe has a long track record of reconciling competing identities. This has happened by focusing on patterns of interaction (solidarity) rather than obvious indicators of distinctiveness. Using the examples of the Netherlands and Turkey, this article illustrates the wide spectrum of European approaches to the challenge of getting different groups to share the same geographic space.
Topic:
Islam
Political Geography:
Europe, Turkey, and Netherlands

5710. Editor's Note

Author:
J.A. Dorn
Publication Date:
04-2013
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
The heavy debt burdens of Greece and other European welfare states are the result of profligate entitlement spending and a lack of fiscal discipline. Both explicit debt and massive unfunded liabilities in pay-as-you-go social welfare programs must be resolved if Europe is to achieve long-run prosperity.
Political Geography:
Europe and Greece

5711. Introduction: Europe's Crisis and the Welfare State

Author:
Michael Tanner
Publication Date:
04-2013
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
Margaret Thatcher once quipped about the problem facing modern social welfare states: "They always run out of other people's money." Today, in country after country, we are seeing that prophetic remark coming true. The headlines have been dominated by the problems of the so called PIIGS (Portugal, Ireland, Italy, Greece, and Spain), which face the most immediate economic crisis and have required economic support from the International Monetary Fund and other European countries. However, even countries with relatively robust economies, such as France and Germany, are facing unprecedented levels of debt. Unless the countries of Europe reform their welfare states, they will face some combination of huge tax increases or default on their obligations, both explicit and implicit. The result will be social upheaval and continued economic stagnation. The tough choices facing those countries are playing out today in parliaments and on the streets. The future remains highly uncertain. But how much better off is the United States? Our national debt exceeds $16.4 trillion and is increasing at a rate of more than $3 million per minute. And that only represents the debt that is actually "on the books." If the unfunded liabilities of Medicare and Social Security are included, then U.S. total indebtedness could top 800 percent of GDP.
Topic:
International Monetary Fund
Political Geography:
United States, Europe, Greece, France, Spain, Italy, Portugal, and Ireland

5712. Europe and the United States: On the Fiscal Brink?

Author:
Jagadeesh Gokhale and Erin Partin
Publication Date:
04-2013
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
What are the implications of Europe's economic troubles for America? Several EU economies now face deep private and sovereign debt overhangs-a situation not unlike that in the United States, which also faces its own challenges with fiscal policy. How do the economic conditions in America and the EU compare in the short and longer terms? This article provides an overview of key indicators that summarize and help to project the two regions' economic prospects. It should be noted at the outset, however, that economic conditions and policies in the two regions differ in substantive ways. As in the United States, most European economies-members of the European Monetary Union (EMU)-now participate in a single currency (euro) system operated by the European Central Bank-the counterpart of the U.S. Federal Reserve System. However, the EU lacks a single central fiscal authority that operates a significant cross-nation transfer system. Having surrendered authority over monetary policy and, by the definition of a single currency, exchange rate policy, EMU member nations must depend on national fiscal policies to exert stewardship over their economies.
Political Geography:
United States, America, and Europe

5713. Is America Becoming Greece?

Author:
Michael Tanner
Publication Date:
04-2013
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
It does not take more than a glance at the headlines to see that European countries are in trouble. From Greece to Britain, from France to Portugal, it is becoming clear that the modern welfare state is unsustainable, facing fiscal catastrophe, stagnant economic growth, punishing taxes, and prolonged joblessness. European countries are being forced, kicking and screaming, to rethink their approach to social welfare. But how much better off is the United States?
Political Geography:
Britain, United States, America, Europe, Greece, France, and Portugal

5714. American and European Welfare States: Similar Causes, Similar Effects

Author:
Pierre Lemieux
Publication Date:
04-2013
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
The American welfare state is not as different from the European welfare state as conventional wisdom would have it. If we define the welfare state as that part of the state (the whole apparatus of government at all levels) devoted to taking charge of the welfare of the public, welfare-state functions cover social protection (which includes public pensions), health, and education. These functions make up 57 percent of total U.S. government expenditures compared to 63 percent for the typical euro zone country. In this sense, the American welfare state is only about 10 percent smaller than the European welfare state.
Political Geography:
United States, America, and Europe

5715. Lessons from Europe's Debt Crisis for the United States

Author:
Desmond Lachman
Publication Date:
04-2013
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
The European sovereign debt crisis offers a cautionary tale for the United States. This is the case since all too sadly the U.S. public finances appear to be on the same sort of unsustainable path that lies at the heart of the present European crisis. Whereas Europe, taken as a whole, currently has a budget deficit of around 3 percent of GDP And a gross public debt ratio of around 90 percent of GDP, the United States has a budget deficit of around 8 percent of GDP and a gross public debt ratio in excess of 105 percent of GDP.
Political Geography:
United States and Europe

5716. Is Austerity the Answer to Europe's Crisis?

Author:
Veronique de Rugy
Publication Date:
04-2013
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
Austerity is a term used to describe debt-reduction policies, but it can mean radically different things. For some people, austerity means adopting a debt-reduction package dominated by tax increases. For others, it means adopting a package made mainly of spending restraint-including reforms of social programs. The lack of a distinction between the two meanings of the word-and hence, the distinction between two different debt-reduction policies-is unfortunate and could also explain the confusion over what is happening in Europe.
Political Geography:
Europe

5717. Choosing the Best Policy Mix to Cure Europe's Stagnation

Author:
Pascal Salin
Publication Date:
04-2013
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
A great number of European governments have decided on austerity policies to reduce their fiscal deficits and public debt. In order to evaluate such policies, it is necessary to analyze the present and past economic situation of European countries, and to recognize the important role that savings plays in understanding this economic situation and possible future developments. After examining the economic background of austerity policies and the role of savings, this article discusses the choice of different types of austerity policies and policy mixes.
Topic:
Development
Political Geography:
Europe

5718. Challenges for the German Welfare State before and after the Global Financial Crisis

Author:
Mark Hallerberg
Publication Date:
04-2013
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
Germany has a northern European welfare state. This means that social benefits are extensive compared not only to the American standards but compared to other European countries, such as Italy or Spain. In the early 2000s, both foreign observers and Germans themselves considered the country the “sick man of Europe.” Its firms seemed increasingly uncompetitive, due especially to its costly labor. Economic growth in this period was stagnant. This “exporting giant” even had a slight current account deficit.
Topic:
Financial Crisis
Political Geography:
Europe, Germany, Spain, and Italy

5719. Estonia and the European Debt Crisis

Author:
Juhan Parts
Publication Date:
04-2013
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
Estonia has had a quick recovery from the recent recession and its economy is in better shape than before the crisis. It is now much leaner and significantly more capable of handling international shocks. After a sharp contraction, in which GDP contracted by over 14 percent in 2009, GDP growth rebounded quickly, growing at a rate of 3.1 percent in 2010 and 8.3 percent in 2011.
Political Geography:
Europe and Estonia

5720. The Welfare State as an Underlying Cause of Spain's Debt Crisis

Author:
Pedro Schwartz
Publication Date:
04-2013
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
The ongoing crisis that so dramatically hit Spain in 2008 was at least in part caused by the countercyclical monetary policy the Federal Reserve and the European Central Bank applied in the first years of the new century. Their artificially low interest rates must in part be responsible for the excessive leveraging in banks, businesses, and households. Their unwarranted use of monetary policy to foster growth has recoiled on them with a vengeance. Now central bankers and their political masters find that they cannot perform as expected. A constant feature of financial crises in the past two centuries, as Reinhart and Rogoff (2010) have noted, is that, when banks collapse, companies fail, and families go insolvent they all turn to the central bank and the government to bail them out. The authorities usually find it difficult to answer those anguished calls even when they have the power to print money, so that devaluations and write-offs ensue.
Political Geography:
Europe and Spain