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  • Author: Rajni Bakshi
  • Publication Date: 09-2016
  • Content Type: Research Paper
  • Institution: Gateway House: Indian Council on Global Relation
  • Abstract: Economic reforms in India have often arrayed proponents of market-led growth against human rights advocates anxious that markets give primacy to profits over people. A quarter century after the reform process was initiated in the early 1990s, this conflict has sharpened. At the same time, this narrative of polarised positions seems increasingly worn out. Business and society at large have always been intricately co-dependent. This interface is now taking many new forms across the world, with some entrepreneurs seeing profit as a means, rather than the end goal of business. This paper explores these questions. It reviews if and how trusteeship can be a lodestar for globally navigating businesses and public policies through a period of technology- driven disruptions and the uncertainties unleashed by climate change. Trusteeship is a frame of reference on which a wide variety of business models can be based. The emphasis is on transforming rather than demolishing the capitalist system. In essence, Gandhian trusteeship reposes faith in the capacity of individuals and entire classes to re-form themselves, on the premise that the capacity to seek redemption is intrinsic to human nature. There was logic rather than dreamy wishful thinking behind these claims. Gandhi believed that it is a fearful man who tyrannises others or attempts to accumulate wealth by force or by unfair means. By contrast, a voluntary adoption of trusteeship means respect for human dignity, fostering relations based on truth and shared goals. Thus, Gandhi urged labourers to approach employers from a position of strength and self-respect since labour is as vital a component of production as capital, land, and technology. In a time mired by corruption and competitive greed, trusteeship may at first glance seem like a pipe-dream. Can this closer examination perhaps give you cause to rethink?
  • Topic: Development, Economics, Reform, Employment
  • Political Geography: India
  • Author: Rajni Bakshi
  • Publication Date: 09-2016
  • Content Type: Research Paper
  • Institution: Gateway House: Indian Council on Global Relation
  • Abstract: Degrowth as a creative goal does not sit well in most societies today. But water is a key to fostering new imaginaries because it most starkly manifests the risk of forced and chaotic degrowth-as-collapse. By 2040 an estimated 33 countries, including USA, China and India, will face severe water scarcity. India had a rich heritage of elaborate traditional technologies and modes of social organisation that ensured adequate and reliable supply of water even in arid regions. Many of these old community-based systems of watershed management and storage withered away as water was transformed from a sacred gift to just a ‘resource’ that could be privatised and/or controlled by governments. Today while local water-shed management is supported by government policy this tends to be overwhelmed by large projects that add more directly to GDP growth. Nevertheless, over the last quarter of a century, a wide variety of civil society and academic interventions in India have attempted to revive, or document, the multi-dimensional wisdom on which pre- modern societies based their relationship to water.
  • Topic: Economics, Water, Climate Finance
  • Political Geography: India
  • Author: Rashad Hasanov
  • Publication Date: 09-2016
  • Content Type: Research Paper
  • Institution: Center for Economic and Social Development (CESD)
  • Abstract: In August, the exchange rate of national currency of Azerbaijan-“Manat” beat all historical records. That is to say, the exchange rate was 1 USD= 1.61 Manat in previous month . It should be noted that, the exchange rate hit 1 USD= 1.6 Manat in March, 2016. Since the second half of 2014, due to the fall of oil prices in the world markets there is a visible pressure on the national currency ‘Manat’. Overall, the Azerbaijani “Manat” lost 49.6% of its value in 2015 and in addition, a depreciation of more than 3% in the first 8 months of 2016, the losses could reach 52.2%. Although the occurring rapid dollarization and the observed stagnation in the business environment especially in imports in the first months of 2015 and 2016 resulted in short-term reduction in foreign exchange demand in the March-May period of this year and strengthening the exchange rate of USD/Manat at the level of 1.49, the process of depreciation proceeded again afterwards.
  • Topic: Economics, International Political Economy, Finance
  • Political Geography: Azerbaijan
  • Author: Richard Youngs
  • Publication Date: 01-2015
  • Content Type: Working Paper
  • Institution: Carnegie Endowment for International Peace
  • Abstract: The relationship between the European Union (EU) and Asia is in flux. The EU intensified its economic ties to Asia and boosted its security cooperation in the region in 2011 and 2012. But new challenges, including the crises in Ukraine and the Middle East, have made it difficult to sustain this incipient momentum. There are a number of steps that EU and Asian governments can and should take to continue to strengthen their relations.
  • Topic: Security, Diplomacy, Economics
  • Political Geography: Europe, Ukraine, Middle East, Asia
  • Author: Mark A. Calabria
  • Publication Date: 01-2015
  • Content Type: Working Paper
  • Institution: The Cato Institute
  • Abstract: There was perhaps no issue of greater importance to the financial regulatory reforms of 2010 than the resolution, without taxpayer assistance, of large financial institutions. The rescue of firms such as AIG shocked the public conscience and provided the political force behind the passage of the Dodd-Frank Act. Such is reflected in the fact that Titles I and II of Dodd-Frank relate to the identification and resolution of large financial entities. How the tools established in Titles I and II are implemented are paramount to the success of Dodd-Frank. This paper attempts to gauge the likely success of these tools via the lens of similar tools created for the resolution of the housing government sponsored enterprises (GSEs), Fannie Mae and Freddie Mac.
  • Topic: Economics, International Trade and Finance, Financial Crisis, Reform
  • Author: Elizabeth Pond
  • Publication Date: 01-2015
  • Content Type: Working Paper
  • Institution: Atlantic Council
  • Abstract: In the Ukraine crisis, soft economic power last month trumped hard military power for the first time. The threatened meltdown of the Russian economy could push Russian President Vladimir Putin to dial down his undeclared war on Ukraine in return for some easing of Western financial sanctions. Still, that is not assured.
  • Topic: Economics, Bilateral Relations
  • Political Geography: Russia, Ukraine
47. Pivot 2.0
  • Author: Victor D. Cha, Michael J. Green, Nicholas Szechenyi
  • Publication Date: 01-2015
  • Content Type: Working Paper
  • Institution: Center for Strategic and International Studies
  • Abstract: Opinion surveys demonstrate that a majority of Americans consider Asia the most important region to U.S. interests and a majority of Asian experts support the Obama administration's goal of a “pivot” or “rebalance” to the Asia-Pacific region.1 Yet doubts have also grown about whether the pivot can be sustained by a president politically weakened by the 2014 midterm results, constrained by budget sequestration, and pulled into crises from Ukraine to Iraq and Iran. On issues from immigration to Cuba policy, the Obama administration and the incoming Republican Congress appear set for confrontation. Yet Asia policy remains largely bipartisan—perhaps the most bipartisan foreign policy issue in Washington. It is therefore critical—and practical— to ask that the White House and the Republican leadership in the Congress chart a common course on policy toward Asia for the next two years. This report outlines concrete areas for action on trade, China, defense, Korea, India, and Southeast Asia.
  • Topic: Diplomacy, Economics, International Trade and Finance, Politics
  • Political Geography: Asia
  • Author: Alan Gill, David Sevigny
  • Publication Date: 01-2015
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The creation of the multilateral development bank (MDB) model represents one of the most ingenious financial innovations in recent times. Initially designed to address the problems of financing reconstruction after World War II, this model has shown itself to be surprisingly adaptable to meet a range of other challenges. These have included fostering developing country growth, dealing with the developing world debt problem and facilitating the transition of countries within Central and Eastern Europe from centrally planned to market-based economies.
  • Topic: Economics, War
  • Political Geography: Eastern Europe, Chicago
  • Author: Rajeswari Sengupta, 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, Monetary Policy
  • Political Geography: Asia
  • Author: Mariana Magaldi de Sousa
  • Publication Date: 03-2015
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Expanding the access of financial services to low-income households and other disadvantaged groups has become an important public policy goal in the past decade. Many developing economies have encouraged the introduction of a variety of programs, services and branchless banking instruments ranging from automatic teller machines to cell phones to reach people for whom traditional, branch-based structures, had not. After the 2008 global financial crisis, the leaders of the Group of Twenty (G20) recognized the need to further promote these initiatives as key components in the development of healthy, vibrant and stable financial systems that contribute to sustainable economic growth and lower levels of income inequality. As a result, financial inclusion has become one of the new areas of international financial regulation coordination, alongside shadow banking, resolution regimes and new capital requirements.
  • Topic: Development, Economics, Health