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You searched for: Content Type Policy Brief Remove constraint Content Type: Policy Brief Publishing Institution Peterson Institute for International Economics Remove constraint Publishing Institution: Peterson Institute for International Economics Topic Political Economy Remove constraint Topic: Political Economy
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  • Author: Giang Ho, Paolo Mauro
  • Publication Date: 12-2014
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: With economic growth in advanced economies still lackluster or elusive, much hope for world prosperity rests on projections of continued strength in developing and emerging economies. On average, the economic growth rate in these economies was roughly twice as high—on an unweighted per capita basis—as in the advanced economies during the past decade. According to the forecasts analyzed in this Policy Brief, this superior performance is projected to extend into the next two decades.
  • Topic: Debt, Economics, International Trade and Finance, Political Economy
  • Author: Simon Johnson, Peter Boone
  • Publication Date: 01-2012
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: Successive plans to restore confidence in the euro area have failed. Proposals currently on the table also seem likely to fail. The market cost of borrowing is at unsustainable levels for many banks and a significant number of governments that share the euro.
  • Topic: Political Economy, Regional Cooperation, Monetary Policy
  • Political Geography: Europe
  • Author: C. Fred Bergsten, Jacob Funk Kirkegaard
  • Publication Date: 01-2012
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: Doom and gloom about the euro abounds. An increasing number of commentators and economists, including here at the Peterson Institute, have begun to question whether the common currency can survive.
  • Topic: Economics, International Trade and Finance, Political Economy, Regional Cooperation, Financial Crisis
  • Political Geography: Europe
  • Author: Jacob Funk Kirkegaard
  • Publication Date: 01-2009
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: It is generally believed that the United States is a country of low taxes and small government, at least when compared with countries in Europe (and until the financial crisis so greatly expanded the role of the federal government in the United States in late 2008). Fully accounting for the role, size, and effect of the government in an economy is a complex endeavor, however, and it is hardly accomplished by repeatedly restating differences in top marginal tax rates, overall tax burdens, or gross sizes of governments in GDP terms.
  • Topic: Economics, Government, Political Economy, Privatization
  • Political Geography: United States, Europe
  • Author: Nazgul Jenish, Anders Åslund
  • Publication Date: 06-2006
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: In the first decade of postcommunist transition, multiple growth regressions showed that the more radical and comprehensive market economic reform was, the earlier a country returned to economic growth and the more vigorous its growth, and that Central Europe took the lead. Since 2000, however, the Commonweath of Independent States (CIS) countries have had more than 4 percentage points higher annual growth than the Central European countries. A regression analysis for 20 postcommunist countries shows, with strong significance, that reducing public expenditures has most effectively stimulated economic growth. As expected, oil exports are also positive and significant. The distance from the European Union is also positive and significant: that is, the further from the European Union, the higher the economic growth. The effect of corruption is negative for growth but only marginally significant. Neither the laggard effect nor investment reveals any significant effect. The conclusion is that at least among postcommunist countries more emphasis should be given to reducing public expenditures to boost economic growth.
  • Topic: Economics, International Organization, Political Economy
  • Political Geography: Europe, Central Europe
  • Author: C. Randall Henning
  • Publication Date: 06-2006
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: Scholarship on European integration has extensively debated the external character of the monetary union. The institutions of exchange rate policymaking bear substantially on the euro area's role in international monetary conflict and cooperation. This working paper examines the institutional arrangements for foreign exchange intervention within the euro area and the policymaking surrounding the market operations of autumn 2000—the only case to date of euro area intervention in currency markets. Drawing on interviews of officials in finance ministries, central banks, European institutions, and international organizations, as well as public sources, the paper specifies the division of labor among the European Central Bank (ECB), Euro group, and other European actors and compares that arrangement with corresponding arrangements in the G-7 partners. It concludes, among other things, that (1) the interinstitutional understanding within the euro area gives substantial latitude to the ECB, greater latitude than held by central banks in its G-7 partners, (2) but the understanding is susceptible to renegotiation over time, and (3) economic divergence within the euro area potentially threatens the ability of the monetary union to act coherently externally.
  • Topic: Economics, International Organization, Political Economy
  • Political Geography: Europe
  • Author: Nicolai Laugesen, Jacob Kirkegaard, Peter Jensen
  • Publication Date: 06-2006
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: Based on a large Danish survey of companies in tradable goods and services sectors, this working paper presents the results of offshoring and its impact on jobs, adding new perspectives to the globalization debate. Globalization entails a cross-border flow of jobs, but contrary to the mainstream media portrayal of globalization, it is not a one-way but a two-way street. In 2002–05 more jobs were created as a result of offshoring of activities into eastern Denmark from companies outside Denmark (i.e., inshored to Denmark) than were eliminated due to off shoring from companies in the Danish region. Overall, the employment effects of both off shoring and in shoring were found to be limited to less than 1 percent of all jobs either lost to offshoring or gained via inshoring. For Denmark, the worries in purely numerical terms regarding the employment effects of globalization seem overly alarmist. However, the trends revealed in the study do pose challenges for low-skilled workers—the group most negatively affected—and for highly skilled specialists, who face pressure to constantly upgrade their skills. Policy implications can be drawn in view of our results to ensure that labor markets are able to meet the demands of globalizing firms.
  • Topic: Economics, International Organization, Political Economy
  • Political Geography: Europe
  • Author: Kimberly Elliott
  • Publication Date: 06-2006
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: The Doha Round of multilateral trade negotiations, so named because it was launched in the Qatari capital, is in deep trouble. Negotiators have yet to meet any of the interim deadlines for completing the talks, and they missed another at the end of April 2006. While it is still possible to finish the round by early 2007, the odds are diminishing by the day, and this deadline matters more than most. Trade promotion authority (TPA) in the United States will expire in June 2007, and if the round does not make significant progress before then, TPA might not be renewed, and the round would likely drag on for several more years.
  • Topic: Economics, International Organization, International Trade and Finance, Political Economy
  • Political Geography: United States
  • Author: Jeffrey J. Schott, Scott C. Bradford, Thomas Moll
  • Publication Date: 06-2006
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: Five years ago the Institute published Free Trade between Korea and the United States? by Inbom Choi and Jeffrey J. Schott, which analyzed the potential benefits and costs of pursuing a bilateral free trade agreement (FTA). At the time, neither government had vetted the idea in bilateral consultations, though some business groups in each country—and some members of the US Congress—had voiced support for deepening US-Korea economic ties through an FTA.
  • Topic: Economics, International Organization, Political Economy
  • Political Geography: United States, Asia, Korea
  • Author: Nicholas R. Lardy, Morris Goldstein
  • Publication Date: 11-2004
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: Rarely has the outlook for the Chinese economy been so contested. The financial press widely quotes three alternative perspectives on the short-and medium-term outlook. One school argues that the Chinese government's recent efforts to rein in overly rapid growth are working and that the economy is now on a glide path to what is referred to as a soft landing. While “soft landing” is usually not fully defined, its chief feature in this case is that Chinese economic growth slows modestly from its current pace of 9 to 10 percent to around 8 percent and that the rate of job creation does not slow enough to constitute a major political challenge for the regime. At the other end of the spectrum is the hard landing school, which argues that the authorities to date have not tightened sufficiently, that loan and investment growth remain excessive, and that the authorities soon will be forced to take more drastic action that will trigger a sharp correction. Finally, the no landing school argues that China's efforts to slow growth modestly are misguided since the economy was not overheating in 2003 and early 2004. In this view, China is in the early stages of a secular boom that has several additional years to run.
  • Topic: Economics, Political Economy
  • Political Geography: China, Asia