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54101. CIAO: Canada — Pre-Election Budget

Author:
Caspar Fithin
Publication Date:
10-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
Finance Minister Paul Martin announced new tax reductions in his annual economic statement this week. The mini-budget is part of the Liberal government's preparations for a general election that is expected to be called later this week. In order to secure another majority in the House of Commons, the federal Liberals will need to maintain their popularity in Ontario and increase their support in Atlantic Canada. If the Liberals fail to regain their majority, they will probably rely on the support of New Democratic legislators. If this happens, the new government would place less emphasis on tax cuts and debt reduction, and more stress on spending, than would otherwise have been the case.
Topic:
Economics, Government, and Politics
Political Geography:
Canada

54102. Iran — Investor Inhibitions

Author:
Caspar Fithin
Publication Date:
10-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
This week, the Majlis approved a government bill authorising immediate use of the 2000-01 budget surplus. The windfall surplus, largely the result of increased oil revenues, should amount to 6-10 billion dollars by the end of the fiscal year in March. It will certainly transform Iran's external finances, but its impact on the domestic economy will be less immediate, and it will do little to ease investor concerns. Khatami's efforts to attract greater foreign investment depend on reform of the judiciary and other key changes to the regulatory climate. In the meantime, continuing political turmoil will deter all but those investors prepared to take a long-term view of Iran's economic potential.
Topic:
Economics, Government, International Trade and Finance, and Politics
Political Geography:
Iran and Middle East

54103. Mexico — Overheating Arguments

Author:
Caspar Fithin
Publication Date:
10-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
The recommendation reflects a conflict between the bank and the finance ministry over whether or not the economy is overheating. Increasingly, the conflict is being fought in public circles after months of low-key clashes. The uncharacteristic rift between the monetary and fiscal authorities is likely to widen over the final two months of the Zedillo administration, as signs of overheating continue to accumulate. While pressure for a substantial fiscal adjustment is likely to be irresistible when Fox takes over on December 1, concerns are growing regarding his capacity to execute such a policy.
Topic:
Economics, Government, Political Economy, and Politics
Political Geography:
North America and Mexico

54104. Nigeria — Rapacious Corruption

Author:
Caspar Fithin
Publication Date:
09-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
Corruption deters foreign lending and investment. Except in the oil and gas sector, Nigeria's economic advantages are not sufficiently countervailing. The national reputation for corruption encourages further abuse since no one's reputation suffers through acting dishonesty. Despite reforming efforts, grand corruption is likely to persist because of the continuing large flows through official hands of unearned income from natural resources.
Topic:
Economics, Government, and International Trade and Finance
Political Geography:
Africa and Nigeria

54105. European Union — Sanctions against Austria lifted

Author:
Caspar Fithin
Publication Date:
09-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
The decision last week to lift political sanctions against Austria came as a relief to both Vienna and most of the fourteen EU member states participating in the action. Imposed in protest at the inclusion in government of the far-right Freedom Party (FPOe), the sanctions had rapidly became a source of difficulty and embarrassment. Crucially, nobody had been clear about what the precise aims were, or in what circumstances the sanctions would be suspended: there was no exit strategy for either side.
Topic:
Foreign Policy
Political Geography:
Europe, Austria, and Vienna

54106. South Africa — Mbeki Leadership

Author:
Caspar Fithin
Publication Date:
09-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
Although the transition from Nelson Mandela's to Thabo Mbeki's presidency has been marked by continued political stability and conservative economic management, Mbeki's political judgement is increasingly being questioned in several key policy areas. Unless Mbeki succeeds in allaying concerns about his leadership, the stability of South Africa's present political arrangements will be undermined.
Topic:
Economics, Government, and Politics
Political Geography:
Africa and South Africa

54107. International — Capital Flight

Author:
Caspar Fithin
Publication Date:
09-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
Not all capital outflows from developing countries should be characterised as capital flight; some are simply the analogues of outward FDI and portfolio diversification in the more advanced economies. Nonetheless, a substantial proportion is classic flight capital, linked to tax evasion or criminal activity, and transferred abroad via misinvoicing and complex financial transactions. Capital flight leads to a significant loss of investment in the most affluent developing countries, and a crippling one in the poorest. However, staunching the flow is likely to prove extremely difficult. It will require greater economic stability and institutional certainty in the source countries, and more rigorous tax enforcement and cooperation in the destination states.
Topic:
Economics, Emerging Markets, Government, International Trade and Finance, and Third World

54108. Russia — Gore Strategy

Author:
Caspar Fithin
Publication Date:
08-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
Vice-President Al Gore officially accepted the Democratic presidential nomination at the party's National Convention in Los Angeles on August 17. A continued deficit in the polls forced Gore to use the convention as a platform to consolidate his base vote. He also sought to differentiate himself from the Clinton presidency, despite the fact that he has adopted similar positions to the outgoing administration on many key issues. If Gore is to win in November, he must convince voters that the current expansion, and the benign political climate that it has fostered, would be imperilled by a Bush presidency.
Topic:
Government and Politics
Political Geography:
Russia and United States

54109. United States — High-Tech Exports

Author:
Caspar Fithin
Publication Date:
08-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
The White House has loosened export restrictions in a number of high-technology sectors, setting a trend which is likely to be followed by the next administration. Tight export controls on high-tech products have become an expensive luxury that the United States can no longer afford. The liberalisation of remaining controls is therefore set to continue, whatever the partisan composition of the next Congress and the next administration.
Topic:
International Trade and Finance and Science and Technology
Political Geography:
United States

54110. Russia — Intelligence Influence

Author:
Caspar Fithin
Publication Date:
08-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
The recent increase in arrests on espionage charges and expansion of activity by Russia's security and intelligence agencies appears to be signalling a reversion to aggressive Cold War tactics. They are seeking to increase their political influence and appear to be testing the limits of the 'civilised' intelligence competition which has evolved in the last decade. While Moscow has the means and apparent will to intensify intelligence competition, its clumsy and outdated methods threaten the country's commercial interests and could harm broader foreign policy goals.
Topic:
Security, Foreign Policy, and Cold War
Political Geography:
Russia

54111. United States — Bush Presidency

Author:
Caspar Fithin
Publication Date:
08-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
An analysis of Texas Governor George Bush's record as a modest tax cutter and education policy activist suggests that these issues would probably shape his policy preferences if he were elected president. A Bush White House would probably settle for smaller tax cuts than those the governor is currently proposing. It would also be likely to focus on achieving a series of moderately conservative education and crime reforms.
Topic:
Government, Politics, and Reform
Political Geography:
United States

54112. Lebanon — Border Deployment Doubts

Author:
Caspar Fithin
Publication Date:
07-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
United Nations peacekeeping forces are expected to deploy to the Lebanese-Israeli international border soon. Considerable diplomatic efforts have been required to win 'acceptance' of the border by Beirut and Tel Aviv, and thereby enable UN deployment to the area from which Israel withdrew nearly two months ago. The United Nations is likely to find it even more difficult to implement the other terms of its mandate.
Topic:
Security and United Nations
Political Geography:
Middle East, Israel, and Lebanon

54113. International -- World Economic Propects

Publication Date:
07-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
Official attention has shifted from the need to avert recession towards the problems of managing growth. There is some evidence that higher interest rates have begun to slow the expansion to a more sustainable pace in the Anglo-Saxon economies, but it remains unclear whether the principal central banks have done enough to bring demand growth back into line with sustainable increases in supply. The markets expect any further tightening to be limited, but the current position of the monetary authorities should probably be characterised as a pause in the tightening cycle, rather than the peak.
Topic:
Economics and Markets

54114. Mexico — Post-Election Challenges

Author:
Caspar Fithin
Publication Date:
07-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
In the initial burst of euphoria that has accompanied the end of virtual one-party rule in Mexico, the magnitude of the challenge facing the incoming government is in danger of being overlooked. For those concerned with furthering democracy, it is enough that former Coca-Cola executive Vicente Fox will become the country's first president from outside the Partido Revolucionario Institutional (PRI) in more than seven decades. Investors, who sent the peso and the Mexico City bourse soaring after Sunday's election, are just happy that a clear winner emerged and that the feared collapse of governability has apparently been avoided.
Topic:
Government and Politics
Political Geography:
North America and Mexico

54115. United States - Senate Prospects

Publication Date:
06-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
This year's Senate elections will be only modestly affected by the outcome of the presidential election. The Republicans currently hold a 55-45 seat advantage in the chamber, a margin that will be extremely difficult for the Democrats to overturn this November. The Democrats will therefore hope to gain three or four seats; a surge which would enable the party to launch a strong challenge to the Senate Republicans in 2002. Although more Republicans are seeking re-election this year, the Democrats are defending four of the five seats in which the incumbent senator is retiring (so-called 'open seats').
Topic:
Government and Politics
Political Geography:
United States and New York

54116. United States — Economic Propects

Publication Date:
05-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
The US economy is experiencing its longest-ever recorded period of sustained growth. The current expansion, which began in March 1991, is the longest of the 32 which have been registered by the Bureau of Economic Analysis since 1854 and is now in its tenth year and 110th month. Moreover, since 1995, real GDP has grown at an average annual rate of more than 4.25% -- a rate not experienced since the 1960s. The expansion is consistent with the changing pattern of business cycles, insofar as the average length of economic expansions has nearly doubled from about 2.5 years during 1900-53 to about 5 years in the second half of the century (while the average length of contractions has fallen to less than twelve months). However, even allowing for this transformation, the current expansion seems to be exceptional, both for its duration and its strength. The coincidence of a long and inflation-free expansion with the boom in information and communication technologies (ICT) has sparked a debate about their interdependence.
Topic:
Economics
Political Geography:
United States

54117. United States — Presidential Race

Author:
Oxford Analytica
Publication Date:
06-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
With the presidential primary season having ended this week, the race for the White House now heads for the party conventions. Since effectively securing the Republican nomination, Texas Governor George Bush has regained his poll lead over the de facto Democratic nominee, Vice-President Al Gore. If Bush retains a clear poll lead by the convention season, the current signs of apprehension amongst Democratic leaders will become more apparent. If Gore can more closely identify himself with the economy's exceptionally strong performance, he is perfectly capable of staging a full recovery and securing victory in November.
Topic:
Government and Politics
Political Geography:
United States and China

54118. International — WTO Reform

Author:
Oxford Analytica
Publication Date:
05-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
WTO members are unlikely to reach agreement on radical changes, at least in the short term. At most they may conclude an accord which reaffirms both the principle of consensus and the need for Green Room meetings, and which gives the director-general a role (possibly informal) in ensuring that efficiency is balanced by other considerations. However, an agreement on institutional changes will have little impact on prospects for launching a new trade round. Such prospects will continue to depend on whether members can develop an agenda that all believe will serve their national interests.
Topic:
International Organization, International Trade and Finance, and World Trade Organization
Political Geography:
United States

54119. OECD — Inflation Prospects

Author:
Oxford Analytica
Publication Date:
05-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
Inflation has begun to accelerate throughout the OECD-area, mainly as a result of higher oil prices. The increase comes from a low base and official forecasts suggest that the price outlook is generally benign. However, a further tightening of monetary policy in order to contain inflation at these low levels is now probably the most important threat to asset market valuations and the continued expansion of the global economy. Product market liberalisation, globalisation and the advent of the internet have brought real and lasting changes in pricing behaviour that will not disappear with a global upturn. These trends have been reinforced by improvements in the operation, credibility and effectiveness of national monetary policies. Nevertheless, historical experience suggests that inflationary pressures could accelerate rapidly as the major economies enter their first period of coincident growth since 1988-90. The result is likely to be tighter monetary policy rather than permanently higher inflation and long-term interest rates.
Topic:
Economics, Globalization, International Trade and Finance, and Science and Technology
Political Geography:
United States and Canada

54120. Northern Ireland — Ulster Prospects

Author:
Oxford Analytica
Publication Date:
05-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
The political outlook in Northern Ireland has, at least in the short term, been transformed by the political document released by the British and Irish governments and the subsequent statement issued by the IRA. This involves the exchange of a detailed timetable towards the implementation of the Good Friday agreement — including reform of police and security arrangements in the province — for a commitment from the IRA that at least part of their weaponry can be subject to external inspection. This bargain is likely to be enough to permit devolution to be restored shortly. The Northern Ireland peace process has been at an impasse since the British government suspended the operation of devolved institutions on February 11. It did so because the IRA had offered no clear indication as to how it might initiate the process of arms decommissioning — a situation that left Ulster Unionist leader and First Minister David Trimble extremely exposed in his own party. The narrow margin by which Trimble was re-elected leader by the Ulster Unionist Council in March, and that body's further insistence that the proposed reform of Northern Ireland's police force — the Royal Ulster Constabulary — be diluted before devaluation was restored, appeared to plunge the peace process into a state of permafrost.
Topic:
Conflict Resolution and Peace Studies
Political Geography:
United Kingdom, Europe, and North Ireland