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  • Author: Ming Zhang
  • Publication Date: 03-2015
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Due to the 2008-2009 global financial crisis, the Chinese government began to promote renminbi (RMB) internationalization in order to raise its international status, decrease reliance on the US dollar (USD) and advance domestic structural reform. RMB internationalization has achieved progress not only in cross-border trade settlement, but also in the offshore RMB markets. However, the rampant cross-border arbitrage and the relatively slow development of RMB invoicing compared to RMB settlement are becoming increasingly problematic. RMB internationalization has exerted significant influence on not only the Chinese economy but also other emerging market economies. RMB internationalization complicates domestic monetary policy, exacerbates the currency mismatch on China's international balance sheet and increases both the scale and volatility of short-term capital flows. It offers emerging economies another alternative for pricing domestic currency and investing foreign exchange reserves. Its overall impact on the international monetary system's stability will depend on how the capital account is liberalized and the consistency and transparency of Chinese monetary policy. This paper concludes with five recommendations for Chinese policy makers to promote RMB internationalization in a sustainable way that is conducive to international stability.
  • Topic: Development, Economics, Government
  • Political Geography: United States, China
  • Author: Armand de Mestral
  • Publication Date: 09-2015
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Investor-state arbitration (ISA), also known as Investor-State Dispute Settlement (ISDS), by which a foreign investor is entitled to sue a state for damages resulting from the alleged violation of an applicable bilateral investment treaty or an investment chapter in a regional trade agreement, has come under scrutiny in many parts of the world. But in no countries has it been subject to greater scrutiny and challenge than in developed democracies. First in Canada and the United States as a result of the adoption of NAFTA Chapter 11, subsequently in the European Union as a result of the adoption of the International Energy Charter, and latterly in other countries such as Australia, critics have alleged that ISA grants an undue privilege to foreign investors whose complaints should be heard by domestic courts instead of panels of international arbitrators. Availability of ISA is in fact worldwide, due to a network of more than 3,200 investment treaties; criticisms have been voiced in different parts of the world and various proposals for change have been made. The criticisms in developed democracies have become sufficiently strong for it to be necessary to raise the question of whether recourse to ISA is appropriate in any form in developed democracies. Armand de Mestral’s paper is the first in the Investor-State Arbitration project. The series of papers will be prepared by leading experts from a number of developed democracies. Each will review the experience of ISA within specific jurisdictions, with a view to understanding the debates that have occurred in each one. The focus of the debate is on developed democracies, but the implications for the whole international community are very much in mind.
  • Topic: Development, Energy Policy, Treaties and Agreements, Bilateral Relations, Foreign Direct Investment, Democracy
  • Political Geography: United States, Canada
  • Author: Sara Z. Poggio
  • Publication Date: 01-2015
  • Content Type: Journal Article
  • Journal: Political Science Quarterly
  • Institution: Academy of Political Science
  • Abstract: In this insightful study, Rebecca M. Callahan and Chandra Muller show the importance of the national educational system of the United States in the social and civic integration of children of immigrants—one of the fastest­ growing segments of the U.S. population. The relevance of education, and public education in particular, has been highlighted, as mentioned by the authors, in the education program “No Child Left Behind,” initiated by President George W. Bush in 2001 and in “Race to the Top.” one of several programs initiated by the administration of Barack Obama. - See more at: http://www.psqonline.org/article.cfm?IDArticle=19338#sthash.ik0TWfYQ.dpuf
  • Topic: Development, Education, Politics, Immigration
  • Political Geography: United States, America
  • Publication Date: 05-2015
  • Content Type: Book
  • Institution: Columbia University Press
  • Abstract: In the poorest countries, such as Afghanistan, Haiti, and Mali, the United States has struggled to work with governments whose corruption and lack of capacity are increasingly seen to be the cause of instability and poverty. The development and security communities call for "good governance" to improve the rule of law, democratic accountability, and the delivery of public goods and services. The United States and other rich liberal democracies insist that this is the only legitimate model of governance. Yet poor governments cannot afford to govern according to these ideals and instead are compelled to rely more heavily on older, cheaper strategies of holding power, such as patronage and repression. The unwillingness to admit that poor governments do and must govern differently has cost the United States and others inestimable blood and coin. Informed by years of fieldwork and drawing on practitioner work and academic scholarship in politics, economics, law, and history, this book explains the origins of poor governments in the formation of the modern state system and describes the way they govern. It argues that, surprisingly, the effort to stigmatize and criminalize the governance of the poor is both fruitless and destabilizing. The United States must pursue a more effective foreign policy to engage poor governments and acknowledge how they govern.
  • Topic: Foreign Policy, Corruption, Development, Poverty, Fragile/Failed State, Governance
  • Political Geography: Afghanistan, United States, Haiti, Mali
  • Publication Identifier: 9780231171205
  • Publication Identifier Type: ISBN
  • Author: Homi Kharas, Raj M. Desai
  • Publication Date: 01-2014
  • Content Type: Working Paper
  • Institution: The Brookings Institution
  • Abstract: The rapid growth in crowd-funded private development aid allows an examination of the preferences of philanthropic individuals with respect to international causes. Using survival analysis, we analyze the rate at which loan requests are funded through an internet-based nonprofit organization that bundles contributions from individuals and transfers them as loans to borrowers in developing countries. We find little evidence for the view that crowd-funders behave as either official aid donors or as selfish aid-givers. Rather, our results show that private aid contributions are motivated by associational communities that link citizens in donor countries to those in recipient countries - in particular, through migrant and diaspora networks - and that, as a result, their giving may be considered a complement to official aid.
  • Topic: Development, Non-Governmental Organization, Foreign Aid, Foreign Direct Investment
  • Political Geography: United States
  • Author: William Savedoff, Victoria Fan
  • Publication Date: 03-2014
  • Content Type: Working Paper
  • Institution: Center for Global Development
  • Abstract: Almost every country exhibits two important health financing trends: health spending per person rises and the share of out-of-pocket spending on health services declines. We describe these trends as a "health financing transition" to provide a conceptual framework for understanding health markets and public policy. Using data over 1995-2009 from 126 countries, we examine the various explanations for changes in health spending and its composition with regressions in levels and first differences. We estimate that the income elasticity of health spending is about 0.7, consistent with recent comparable studies. Our analysis also shows a significant trend in health spending - rising about 1 percent annually - which is associated with a combination of changing technology and medical practices, cost pressures and institutions that finance and manage healthcare. The out-of-pocket share of total health spending is not related to income, but is influenced by a country's capacity to raise general revenues. These results support the existence of a health financing transition and characterize how public policy influences these trends.
  • Topic: Development, Economics, Health, Governance
  • Political Geography: United States
  • Author: Daniel F. Runde, Scott Miller
  • Publication Date: 02-2014
  • Content Type: Working Paper
  • Institution: Center for Strategic and International Studies
  • Abstract: The link between economic development and state security has been well established but is still too often overlooked. Former secretary of defense Robert Gates argued in support of development efforts as a form of “preventative diplomacy,” preventing the conditions where violent crises occur that may require more aggressive intervention. For example, rising food prices in Egypt have been cited as a major instigator for the protests that overthrew Hosni Mubarak. That does not mean that Mubarak could have stayed in power if only food were more affordable, but higher levels of economic development and the concurrent factors that encourage it could have made the transition more stable and less violent.
  • Topic: Development, Economics, International Cooperation, International Trade and Finance, Markets, Foreign Direct Investment
  • Political Geography: United States
  • Author: Judyth L. Twigg
  • Publication Date: 03-2014
  • Content Type: Working Paper
  • Institution: Center for Strategic and International Studies
  • Abstract: Over the last few years, Russia's relationship with the United States has traveled a swift and seemingly deliberate arc from partner to pariah. The current turmoil in Ukraine and near-certain resulting isolation of Russia culminate several years' worth of deteriorating ties. The Edward Snowden mess, disagreements over Syria and Iran, dismay over the eroding human rights environment in Russia, and now Russian annexation of Crimea have led the previously heralded "reset" to an unceremonious end. What are the implications of these and related developments for U.S.-Russia collaboration in medicine and public health? Should avenues of partnership remain open, even in such a frosty political context? Should the international community support Russia's health sector when ample resources exist within Russia itself? Is it even possible anymore?
  • Topic: Development, Diplomacy, Economics, Health, Human Rights, Human Welfare, Bilateral Relations
  • Political Geography: Russia, United States, North America
  • Author: Gerald F. Hyman
  • Publication Date: 04-2014
  • Content Type: Working Paper
  • Institution: Center for Strategic and International Studies
  • Abstract: In his 2013 State of the Union speech, President Barack Obama announced that by the end of 2014 "our war in Afghanistan will be over" and, a month earlier, that "by the end of next year, 2014, the transition will be complete—Afghans will have full responsibility for their security, and this war will come to a responsible end." The military transition, successful or not, is in full swing. Of course the war will not come to an end in 2014, responsible or otherwise. Even if the military drawdown goes as planned, "America's commitment to a unified and sovereign Afghanistan will endure, but the nature of our commitment will change," the president said. On the military side, our enduring commitment will focus on training, equipping, and funding the Afghan National Security Forces (ANSF) and "some counterterrorism efforts that allow us to pursue remnants of al Qaeda and their affiliates," presumably the Taliban. As the United States draws down, so too will the remaining coalition countries of the International Security Assistance Force (ISAF) under North Atlantic Treaty Organization (NATO) command.
  • Topic: Security, Development, Economics, Governance
  • Political Geography: Afghanistan, United States, South Asia
  • Author: Catherine Powell
  • Publication Date: 06-2014
  • Content Type: Working Paper
  • Institution: Council on Foreign Relations
  • Abstract: The significant gains that Afghan women and girls have made since the 2001 U.S.-led military invasion and overthrow of the Taliban are endangered. Presidential elections and possible peace efforts with the Taliban raise uncertainties about whether the future leadership in Afghanistan will protect gender equality. Further, President Barack Obama's plan to completely draw down U.S. troops in the country by the end of 2016 risks withdrawing critical security protection, which has provided Afghan women and girls with increased safety and opportunities to participate in education, employment, the health system, politics, and civil society. With these political and security transitions underway, the United States should act now, in coordination with Afghanistan and its partners, to cement and extend the gains and prevent reversal.
  • Topic: Development, Education, Human Rights, Islam, Culture, Reform
  • Political Geography: Afghanistan, United States, Central Asia