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  • Author: Joachim Karl
  • Publication Date: 02-2014
  • Content Type: Policy Brief
  • Institution: Columbia Center on Sustainable Investment
  • Abstract: In his famous book, "The End of History and the Last Man", published in 1992, Francis Fukuyama argued that Western democracy represents the end point of the socio-cultural evolution of humanity and the final form of government.
  • Topic: Economics, International Trade and Finance, Markets, Treaties and Agreements, Foreign Direct Investment
  • Political Geography: France
  • Author: Anthea Roberts
  • Publication Date: 01-2014
  • Content Type: Policy Brief
  • Institution: Columbia Center on Sustainable Investment
  • Abstract: There have been many calls for a rebalancing of investor protection and state sovereignty in the investment treaty system. However, another equally important shift is underway: the recalibration of interpretive authority between treaty parties and arbitral tribunals. In newer-style investment treaties, states are increasingly protecting and enhancing their role in interpreting and applying their treaties.
  • Topic: Economics, Government, International Trade and Finance, Markets, Treaties and Agreements, Foreign Direct Investment
  • Author: Sheng Zhang
  • Publication Date: 01-2014
  • Content Type: Policy Brief
  • Institution: Columbia Center on Sustainable Investment
  • Abstract: The China-US bilateral investment treaty (BIT) negotiations have attracted attention due to the relative size and weight of both economies. Despite broad consensus about the importance of such a treaty, there is considerable debate about its shape and content. The debate is reflected in two recent Columbia FDI Perspectives. Donnelly argued that a China-US BIT should be modeled on the US Model BIT without "splitting the difference between Chinese and US positions", and that the possibility of meaningful BIT negotiations are "really up to China at this point".
  • Topic: Economics, Globalization, International Trade and Finance, Bilateral Relations, Foreign Direct Investment, Governance
  • Political Geography: United States, China, Europe, Colombia
  • Author: Teija Tiilikainen
  • Publication Date: 02-2014
  • Content Type: Policy Brief
  • Institution: Finnish Institute of International Affairs
  • Abstract: Reforms made to the EU's economic and fiscal policies have served to reinforce the fragmentation of the division of competences between the EU and its member states in this field. It has also impacted the way in which these competences are exerted by the European and national institutions. Resulting from a differentiation of responsibilities between the eurozone countries and the rest of the EU, fragmentation is increasingly taking place even inside the EU institutions. The current fragmentation of competences and institutions complicates the democratic scrutiny of economic and fiscal policies. The biggest challenge is to accommodate the differentiated responsibilities of the eurozone countries and the rest of the EU within the framework of existing institutions in a w ay that would ensure the unity of this framework, but also the proper democratic anchoring of the EU's economic and fiscal powers.
  • Topic: Economics, Monetary Policy
  • Political Geography: Europe
  • Author: Steven A. Cook
  • Publication Date: 04-2014
  • Content Type: Policy Brief
  • Institution: Council on Foreign Relations
  • Abstract: Egypt is experiencing a deep economic crisis. The country's foreign currency r e serves are less than half of what they were before the January 2011 uprising, threatening Egypt's ability to pay for food and fuel. Egypt's budget deficit is 14 percent of gross domestic product (GDP) and its overall debt, which is the result of accumulated deficits, is more than the country's economic output. In this difficult economic climate, roughly 4 5 percent of Egyptians live on less than two dollars per day. Inflation, which reached as high as 12.97 percent after the July 2013 military coup, is currently at 11.4 percent. Tourism revenue—traditionally a primary source of foreign currency along with Suez Canal tolls and remittances from Egyptians working abroad—is less than half of what it was in the last full year before the uprising. Foreign direct investment has dried up outside the energy sector. Unemployment remains high at 13.4 percent. Among the unemployed, 71 percent are between fifteen and twenty-nine years old. This economic weakness makes it politically difficult to address the problems that contribute to a potential solvency crisis because the necessary reforms will impose hardship on a population that is already experiencing economic pain.
  • Topic: Conflict Resolution, Economics, Regime Change, Financial Crisis
  • Political Geography: Arabia, North Africa, Egypt
  • Author: Ilaria Maselli, Miroslav Beblavý
  • Publication Date: 01-2014
  • Content Type: Policy Brief
  • Institution: Centre for European Policy Studies
  • Abstract: There is a general consensus that to achieve employment growth, especially for vulnerable groups, it is not enough to kick-start economic growth. It is also essential to improve the s kills among both the high-and low-skilled population.
  • Topic: Economics, Migration, Science and Technology, Labor Issues
  • Political Geography: Europe, Somalia
  • Author: Rym Ayadi, Willem Pieter De Groen
  • Publication Date: 01-2014
  • Content Type: Policy Brief
  • Institution: Centre for European Policy Studies
  • Abstract: The Arab Spring, which took root in Tunisia and Egypt in the beginning of 2011 and gradually spread to other countries in the southern Mediterranean, highlighted the importance of private-sector development, job creation, improved governance and a more equitable distribution of economic opportunities. The developments led to domestic and international demands on the governments in the region to implement the reforms needed to enhance business and investment conditions, modernise their economies and support the development of enterprises.
  • Topic: Economics, International Trade and Finance, Social Movement, Reform
  • Political Geography: Arabia, Egypt, Tunisia
  • Author: Viral V. Acharya, Sascha Steffen
  • Publication Date: 01-2014
  • Content Type: Policy Brief
  • Institution: Centre for European Policy Studies
  • Abstract: The eurozone is mired in a recession. In 2013, the GDP of all 17 eurozone countries fell by 0.5% and the outlook for 2014 shows considerable risks across the region. To stabilise the common currency area and its (partly insolvent) financial system, a eurozone banking union is being established. An important part of the banking union is the Single Supervisory Mechanism (SSM), which will transfer the oversight of Europe's largest banks to the European Central Bank (ECB). Before the ECB takes over this responsibility, it plans to conduct an Asset Quality Review (AQR) in 2014, which will identify the capital shortfalls of these banks.
  • Topic: Economics, International Trade and Finance, Regional Cooperation, Monetary Policy
  • Political Geography: Europe
  • Author: Steven Blockmans, Luigi Scazzieri
  • Publication Date: 02-2014
  • Content Type: Policy Brief
  • Institution: Centre for European Policy Studies
  • Abstract: On January 20th, the International Atomic Energy Agency (IAEA) confirmed that Iran had been implementing its commitments as part of the Joint Plan of Action (JPA) agreed by the E3+3 in Geneva on November 24th of last year. In particular, the Agency confirmed that Iran had not installed new centrifuges, that it had stopped enriching uranium above 5%, that it had disabled connections between cascades being used to enrich up to 20%, and that it had begun the process of diluting half of its stockpile of 20%, while the other half is to be converted to oxide over the next six months. Over the next six months, the IAEA will continue to monitor Iranian enrichment, and activities at Arak, Fordow and Natanz. Immediately following the IAEA announcement, the US and EU suspended some of the sanctions currently imposed on Iran. Sanctions relief, quantified at $7 billion, comprises both the suspension of some sanctions and the repatriation of $4.2 billion of oil revenues in tranches.
  • Topic: Security, Economics, International Cooperation, International Organization, Treaties and Agreements, International Security, Nuclear Power
  • Political Geography: Iran
  • Author: Domenico Lombardi, Pierre Siklos, Samantha St. Amand
  • Publication Date: 03-2014
  • Content Type: Policy Brief
  • Institution: Centre for International Governance Innovation
  • Abstract: Central banks (and policy makers more generally) should seek a global consensus before implementing policies that may have global repercussions. The global economy can only become more resilient to shocks when there is greater central bank cooperation. The G20 is a natural venue to promote cooperation and to help the global economy return to stronger economic growth, but other forums may also be appropriate. The maintenance of financial stability is a common resource and should be treated as such. Excessive reliance on sovereignty is counterproductive and contains the seeds of the next crisis.
  • Topic: Economics, International Cooperation, International Trade and Finance, Markets, Financial Crisis
  • Author: Bessma Momani, Dustyn Lanz
  • Publication Date: 03-2014
  • Content Type: Policy Brief
  • Institution: Centre for International Governance Innovation
  • Abstract: In response to the Arab uprisings in Egypt, Morocco and Tunisia, the IMF has changed its perspective on the social outcomes of its economic policy advice. The Fund now explicitly advocates inclusive growth, reduced inequality and increased attention to, and spending on, health and education services. Although this is a welcome transition, there is still room for improvement. In particular, the Fund could strengthen its commitment to the social dimensions of public policy by delivering more specific, tangible policy advice for countries to achieve inclusive growth, reduce inequality and improve health and education outcomes. More diverse expertise, achieved through wider recruitment of staff, would help the IMF achieve these goals.
  • Topic: Economics, International Trade and Finance, International Monetary Fund
  • Political Geography: Middle East, Arabia, Egypt, Morocco, Tunisia
  • Publication Date: 04-2014
  • Content Type: Policy Brief
  • Institution: International Crisis Group
  • Abstract: Le 13 avril 2014, deux ans et un jour après le coup d'Etat qui a empêché la victoire du Parti africain pour l'indépendance de la Gu inée et du Cap-Vert (PAIGC) à l'élection présidentielle de mars-avril 2012, au terme d'une série de reports et de crises, la Guinée-Bissau va enfin tenir ses élections. Ce s élections législatives et présidentielles ne résultent pas d'un consensus endogène fort. Elles auront lieu parce que le pays est au bord de la banqueroute et que la communauté internationale, moins divisée qu'au moment du coup d'Etat, a exercé une forte pression. Elles ne sont qu'une première étape dans la transition, et les problèmes de fond qui minent la stabilité demeurent. Les scrutins ne manqueront pas de bousculer des intérêts établis et de mettre en jeu l'équilibre du pays. Le nouveau pouvoir devra favoriser le consensus et le pluralisme politique. La communauté internationale, quant à elle, doit rester attentive dans la période cruciale qui s'engage.
  • Topic: Economics, International Cooperation, Regime Change
  • Political Geography: Africa
  • Publication Date: 04-2014
  • Content Type: Policy Brief
  • Institution: Oxfam Publishing
  • Abstract: Economic inequality – the skewed distribution of income and wealth – is soaring. Oxfam's own research has found that the 85 richest individuals in the world have as much wealth as the poorest half of the global population. Economic inequality is also putting lives on the line – more than 1.5 million lives are lost each year due to high income inequality in rich countries alone. A recent study of 93 countries estimated that reducing the income share of the richest 20 per cent by just one percentage point could save the lives of 90,000 infants each year. Estimates also show that failing to tackle inequality will add hundreds of billions of dollars to the price tag of ending poverty, putting the achievement of any new post-2015 poverty goals in jeopardy.
  • Topic: Development, Economics, Education, Poverty, Monetary Policy, Reform
  • Political Geography: India
  • Publication Date: 04-2014
  • Content Type: Policy Brief
  • Institution: Oxfam Publishing
  • Abstract: The Queen 'Mamohato Memorial Hospital, which opened in October 2011, was built to replace Lesotho's old main public hospital, the Queen Elizabeth II (QE II) Hospital, in the capital, Maseru. It is the first of its kind in Africa – and in any low-income country – because all the facilities were designed, built, financed, and operated under a public – private partnership (PPP) that includes delivery of all clinical services. The PPP was developed under the advice of the International Finance Corporation (IFC), the private sector investment arm of the World Bank Group. The promise was that the PPP would provide vastly improved, high-quality healthcare services for the same annual cost as the old public hospital.
  • Topic: Economics, International Cooperation, International Organization, International Trade and Finance, Health Care Policy
  • Political Geography: Africa
  • Publication Date: 04-2014
  • Content Type: Policy Brief
  • Institution: Oxfam Publishing
  • Abstract: Small-scale traditional agriculture provides the foundation of economic, political, and social life in Sudan's Darfur region. Traditionally, it included shifting crop cultivation and agro-pastoral livestock herding, with different ethnic groups specializing in each activity. Under this system, rights over land were not exclusive; various overlapping rights prevailed, and land use was not permanent. These arrangements allowed for the exchange of production inputs (manure for fertilizer, crop residues for animal feed), and permitted the different ethnic groups to coexist peacefully to their mutual advantage.
  • Topic: Political Violence, Agriculture, Climate Change, Economics
  • Political Geography: Africa, Sudan
  • Publication Date: 04-2014
  • Content Type: Policy Brief
  • Institution: Oxfam Publishing
  • Abstract: Greater investment in agriculture is needed to reduce rural poverty and improve food security. This means not simply increasing supply but ensuring that adequate, nutritious food is accessible to every person at all times. How investment is made, its context and conditions, is at least as important as how much is invested.
  • Topic: Agriculture, Economics, Markets, Food
  • Political Geography: South America, Latin America
  • Author: Mike Callaghan
  • Publication Date: 02-2014
  • Content Type: Policy Brief
  • Institution: Lowy Institute for International Policy
  • Abstract: Restoring global economic growth and creating jobs has been an objective of successive G20 summits. Australia has also made it a priority for the G20 in 2014. To achieve such an outcome requires a comprehensive and agreed growth strategy. The G20 lacks such a strategy and has failed to provide a clear and consistent message about how members can or are working together to achieve such an outcome.
  • Topic: Economics, International Cooperation, International Organization, International Trade and Finance, Markets, Labor Issues
  • Political Geography: Australia
  • Author: Edwin M. Truman
  • Publication Date: 03-2014
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: The vital role played by the International Monetary Fund (IMF) in stabilizing the world economy and financial system is in serious jeopardy. The failure in mid-January by the US Congress to approve IMF reform legislation that had been pending for more than three years did not simply bring to a screeching halt a decade of slow progress reforming the governance of the Fund to make it more representative, legitimate, and therefore effective. Congress's balking on this issue also did substantial, actual damage to the US reputation around the world, as the leaders of many countries called into question Washington's ability to deliver on promises made in international economic agreements.
  • Topic: Economics, International Trade and Finance, International Monetary Fund, Reform
  • Political Geography: United States
  • Author: Hongying Wang
  • Publication Date: 04-2014
  • Content Type: Policy Brief
  • Institution: Centre for International Governance Innovation
  • Abstract: China's role in the global imbalance is closely linked to its domestic imbalance. Chinese policy makers have long been aware of the dual imbalance and the imperative to shift to economic growth driven by domestic consumption. They have taken limited steps in changing the development model, but political obstacles have slowed the pace of reform. The new leadership seems serious about deepening economic reform despite political resistance, but without political reform, the prospect of success remains dim.
  • Topic: Economics, International Trade and Finance, Monetary Policy, Governance
  • Political Geography: China, Asia
  • Author: Nicu Popescu, Iana Dreyer
  • Publication Date: 03-2014
  • Content Type: Policy Brief
  • Institution: European Union Institute for Security Studies
  • Abstract: Long ignored by the West, the Eurasian Customs Union (consisting of Russia, Belarus and Kazakhstan) has recently been brought into the international limelight. The project – an attempt by the Kremlin to create a rival to the European Union and its Eastern Partnership project – attracted attention when Moscow, with its characteristic bluntness, began to pressure Armenia, Georgia, Moldova and Ukraine to join the grouping and drop their plans to sign Association Agreements with the EU. Although Russia has not succeeded in convincing all these states to join, it managed to do so with Armenia in September 2013, and the political tussle over the issue with Ukraine played a central role in triggering the country's current crisis.
  • Topic: Economics, International Political Economy, International Trade and Finance, Power Politics
  • Political Geography: Europe, Eurasia, Asia
  • Author: Gerald Stang
  • Publication Date: 03-2014
  • Content Type: Policy Brief
  • Institution: European Union Institute for Security Studies
  • Abstract: In 2012, China was the world's seventh biggest producer of natural gas, the fourth largest oil producer, and the biggest producer of hydroelectricity. It also produced almost as much coal as the rest of the world combined. Still, this is not enough. China's domestic energy bounty has long allowed the country to keep its overall import dependency relatively low but, as the country's economy continues to boom, its import dependency is growing quickly, particularly with regard to oil.
  • Topic: Economics, Energy Policy, International Cooperation, International Trade and Finance, Markets, Natural Resources
  • Political Geography: China, Asia
  • Author: Daniel Fiott
  • Publication Date: 04-2014
  • Content Type: Policy Brief
  • Institution: European Union Institute for Security Studies
  • Abstract: While the crisis in Ukraine may contribute to a revision of defence expenditures in a number of European countries, the task of finding the right balance between cost-effective and strategicallyrelevant defence spending in Europe is still critical. As defence expenditure generally remains in decline across Europe, a range of innovative measures to ensure that defence budgets are spent more efficiently and effectively are being devised.
  • Topic: Defense Policy, Economics
  • Political Geography: Europe, Ukraine
  • Author: Marcus Noland
  • Publication Date: 04-2014
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: Economic engagement between South and North Korea is often justified as a means of encouraging economic and social evolution in North Korea, with the ultimate goal of national unification. The South has invested heavily in the North, and firms have employed more than 50,000 workers. Yet expectations of a transformational impact rest on unexamined assumptions. The North recognizes the Trojan horse nature of the engagement policy: results of an original survey of South Korean employers show that the North Korean government has largely circumscribed the exposure of its citizens to both South Koreans and market-oriented economic practices, in the process violating labor rights defined by covenants to which both countries belong. The problem seems intractable, given that South Korea's diplomatic commitment to engagement with North Korea trumps labor rights concerns and South Korean firms perceive that the North Korean status quo confers benefits. As the experience of labor rights movements elsewhere shows, conditions will likely improve only if an aroused citizenry—here, the South Koreans—demands change.
  • Topic: Diplomacy, Economics, Human Rights, Bilateral Relations, Reform
  • Political Geography: Asia, South Korea, North Korea
  • Author: Rainer Geiger
  • Publication Date: 04-2014
  • Content Type: Policy Brief
  • Institution: Columbia Center on Sustainable Investment
  • Abstract: Launched in July 2013 by the European Union and the United States, the Transatlantic Trade and Investment Partnership (TTIP) represents an important effort to reach a comprehensive economic agreement between two major trading partners. As has been pointed out, the project offers great opportunities for liberalizing trade and investment and regulatory convergence. Its level of ambition implies high risks, but despite negotiators' initial optimism, its success is far from certain. This Perspective focuses on the project's investment chapter, drawing lessons from the failed negotiations on a Multilateral Agreement on Investment (MAI), which was meant to consolidate the results of liberalization in the OECD area, establish new disciplines and introduce protection and dispute settlement.
  • Topic: Economics, International Trade and Finance, Treaties and Agreements
  • Political Geography: Europe, North America
  • Author: Nathan M. Jensen, Jeremy Caddel
  • Publication Date: 03-2014
  • Content Type: Policy Brief
  • Institution: Columbia Center on Sustainable Investment
  • Abstract: Foreign direct investors increasingly use investment dispute-settlement mechanisms to resolve investment disputes and reduce political risk. Using data from the International Centre for Settlement of Investment Disputes (ICSID), the major forum of international investment arbitration, we cataloged the government actors involved in disputes and the actions that led to arbitration. Existing case-based studies of investment arbitration have provided general inferences about the actors involved, but we contribute to the literature in political science and economics by systematically documenting these patterns of behavior.
  • Topic: Economics, International Trade and Finance, Foreign Direct Investment, Governance
  • Author: Karl P. Sauvant, Victor Z. Chen
  • Publication Date: 05-2014
  • Content Type: Policy Brief
  • Institution: Columbia Center on Sustainable Investment
  • Abstract: China's rising outward foreign direct investment (OFDI) faces rising skepticism abroad. This is partly the result of the leading role of state-owned enterprises in her OFDI (and the fear that it serves non-commercial purposes), the speed with which this investment has grown, the negative image of the home country in some quarters, and the challenges it poses to established competitors. Moreover, Chinese multinational enterprises (MNEs) may not always keep in mind that host countries see FDI as a tool to advance their own development and hence seek maximum benefits from it.
  • Topic: Economics, International Trade and Finance, Foreign Direct Investment
  • Political Geography: China, Asia
  • Author: Janne Salminen, Päivi Leino
  • Publication Date: 05-2014
  • Content Type: Policy Brief
  • Institution: Finnish Institute of International Affairs
  • Abstract: The actual need for Treaty amendments is open to interpretation, for example in relation to the inclusion of the recent euro crisis-related international agreements in EU law. These questions are partly political in nature, and linked to the wider legitimacy of the EU and the integrity and clarity of its legal system. The full realization of the Commission's vision for the future of the EMU would require Treaty changes in order to revise the nature of competence in the area of economic policy and the general framework of cooperation. The recent discussion on the euro crisis measures has demonstrated that many member states have constitutional 'red lines' relating, for example, to the exercise of budgetary powers or sovereignty. It seems unlikely that these hurdles will be overcome in the short term.
  • Topic: Economics, International Trade and Finance, Financial Crisis
  • Political Geography: Europe
  • Author: Edward Alden, Rebecca Strauss
  • Publication Date: 05-2014
  • Content Type: Policy Brief
  • Institution: Council on Foreign Relations
  • Abstract: Each year, U.S. state and local governments spend tens of billions of dollars to lure or retain business investment. The subsidies waste scarce taxpayer dollars that could better be used to strengthen public services such as education and infrastructure, or to lower overall tax burdens to create a more favorable investment climate. No state wants to dole out such subsidies, but most fear losing jobs to competing states if they refuse. States should take steps to curb subsidies, beginning with greater disclosure and cost-benefit analyses, and building up to a multistate agreement that creates strong disincentives for continuing subsidies. Existing international arrangements provide models and tools for achieving this.
  • Topic: Economics, International Trade and Finance, Governance, Reform
  • Political Geography: United States, North America
  • Author: Xavier Vanden Bosch
  • Publication Date: 03-2014
  • Content Type: Policy Brief
  • Institution: EGMONT - The Royal Institute for International Relations
  • Abstract: In recent years much has been accomplished to make the EMU more resilient to banking crises, sovereign-debt crises or balance-of-payment crises. Several 'backstops' or financial safety nets were progressively put in place to absorb the shocks that could have otherwise broken the EMU as a system. These substantial advances reflected a gradual, trial-and-error approach rather than a grand design that would have completely overhauled the EMU architecture. While flexibility and realism have advantages, complacency is a clear risk. With no roadmap to follow, efforts to complete the architecture of the EMU may fade with time. Maintaining a sense of direction is crucial while potential vulnerabilities remain.
  • Topic: Economics, International Trade and Finance, Financial Crisis
  • Political Geography: Europe
  • Author: Stijn Verhelst, Xavier Vanden Bosch
  • Publication Date: 03-2014
  • Content Type: Policy Brief
  • Institution: EGMONT - The Royal Institute for International Relations
  • Abstract: This Policy Brief discusses the challenges that await policymakers in reforming the EMU. A balance between discipline and solidarity will have to be found, while institutional reforms should improve the eurozone's legitimacy and efficiency. The key decisions on EMU reforms will have to be made during the 2014-2019 parliamentary term, as the window of opportunity for major reforms is likely to be closed afterwards.
  • Topic: Economics, Monetary Policy, Financial Crisis, Reform
  • Political Geography: Europe
  • Author: Clémentine d'Oultremont
  • Publication Date: 03-2014
  • Content Type: Policy Brief
  • Institution: EGMONT - The Royal Institute for International Relations
  • Abstract: Ensuring the sustainability, security and cost-competitiveness of energy supplies for the EU citizens are the main objectives of the EU climate and energy policy, which remains high on the EU agenda. The next European legislature will have the difficult task to reconcile these different objectives into a comprehensive 2030 framework for climate and energy policies.
  • Topic: Climate Change, Economics, Energy Policy
  • Political Geography: Europe
  • Author: Charles Secondat, Daisy Roterod, P.J. Goossens
  • Publication Date: 04-2014
  • Content Type: Policy Brief
  • Institution: EGMONT - The Royal Institute for International Relations
  • Abstract: The German Constitutional Court (BVG) recently referred different questions to the European Court of Justice for a preliminary ruling. They concern the legality of the European Central Bank's Outright Monetary Transaction mechanism created in 2012. Simultaneously, the German Court has threatened to disrupt the implementation of OTM in Germany if its very restrictive analysis is not validated by the European Court of Justice.
  • Topic: Economics, Regional Cooperation, Monetary Policy
  • Political Geography: Europe
  • Author: Miguel Pérez Ludeña
  • Publication Date: 05-2014
  • Content Type: Policy Brief
  • Institution: Columbia Center on Sustainable Investment
  • Abstract: Multinational enterprises (MNEs) multiplied their profits made in developing countries by four between 2002 and 2011 (at current prices). In Latin America and the Caribbean, they rose from US$20 billion in 2002 to US$113 billion in 2011. The growth rate has been even higher in Africa and China, but much lower in developed countries. This rise is explained by an increase in FDI stock in developing economies and the higher average profitability of MNEs.
  • Topic: Economics, International Trade and Finance, Foreign Direct Investment
  • Political Geography: Africa, China, Latin America
  • Author: Louis T. Wells
  • Publication Date: 02-2014
  • Content Type: Policy Brief
  • Institution: Columbia Center on Sustainable Investment
  • Abstract: A recent Perspective concluded that, in countries given to sudden shifts in policy, "a host country government equity stake in a project may decrease project risk by giving the state a reason not to demand a renegotiation." An investor may benefit, but does the host country? In my experience, rarely.
  • Topic: Development, Economics, International Trade and Finance, Foreign Direct Investment
  • Author: Bruno Tertrais
  • Publication Date: 03-2014
  • Content Type: Policy Brief
  • Institution: Danish Institute for International Studies
  • Abstract: In France, natural uranium is immediately associated with the relationship to African countries. Uranium has always fed rumours, fantasies and conspiracy theories set against the background of all the colourful stories of what is known in France as the "Françafrique"; the web of personal and economic relations between Paris and its former colonies.
  • Topic: Economics, International Trade and Finance, Nuclear Power
  • Political Geography: Africa, Europe, France
  • Author: Jonah Busch, Kalifi Ferretti-Gallon
  • Publication Date: 05-2014
  • Content Type: Policy Brief
  • Institution: Center for Global Development
  • Abstract: A new Center for Global Development meta-analysis of 117 studies has identified the key factors that drive or deter deforestation. Some findings confirm conventional wisdom. Building roads and expanding agriculture in forested areas, for example, worsen deforestation, whereas protected areas deter deforestation. Encouragingly, payments for ecosystem services (PES) programs that compensate people who live in or near forests for maintaining them are consistently associated with lower rates of deforestation. But contrary to popular belief, poverty is not associated with greater deforestation, and the rising incomes brought about by economic growth do not, in themselves, lead to less deforestation. Community forest management and strengthening land tenure, often thought to reduce deforestation while promoting development, have no consistent impact on deforestation.
  • Topic: Agriculture, Economics, Environment, Poverty
  • Author: Rabab el-Mahdi
  • Publication Date: 05-2014
  • Content Type: Policy Brief
  • Institution: Norwegian Peacebuilding Resource Centre
  • Abstract: The puzzle of Egypt's apparently wild swings from the Mubarak regime to a Muslim Brotherhood government and then back to a military dictatorship have been manipulated to fit the simplistic linear and binary categorical models of democratic transition, with an emphasis on procedural outcomes, when in fact deeper structural issues are at stake. Three challenges explain mainstream Egyptians' choices and the tumultuous path the revolution has been following. The first is the structural economic crisis facing Egypt, coupled with lack of state administrative capacity, which no government has been able to effectively deal with. The second is the repercussions of Egypt's post-colonial history, which as a consequence tends to see the army as the "saviour" and "liberator" of the nation. The third is the failure of alternative groups to to provide solid political alternatives for the majority to rally around against the two reactionary poles and their inability to devise strategies to break loose from and reconstruct the hegemonic discourse . Consequently, international actors who throw their weight behind one reactionary faction or the other based solely on pragmatic considerations of their ability to bring about stability will be backing the wrong horse.
  • Topic: Economics, Islam, Armed Struggle, Regime Change, Popular Revolt
  • Political Geography: Middle East, Egypt
  • Author: Balkan Devlen
  • Publication Date: 06-2014
  • Content Type: Policy Brief
  • Institution: Norwegian Peacebuilding Resource Centre
  • Abstract: From the start of the Ukrainian crisis Turkey kept a low profile and adopted a strategy best described as "don't poke the Russian bear". Russia is a major Turkish trading partner and Turkey relies heavily on Russian natural gas for its energy needs, while Turkish prime minister Erdogan has also been dealing with serious domestic challenges in the last year. Therefore, due to both external and internal factors, Turkey will avoid confronting Russia directly and will pass the buck to the U.S. and EU. In the short to medium term there are three plausible scenarios under which Turkey will change its current policy. They include the oppression of Crimean Tatars by the Russian authorities; military confrontation in the Black Sea between Russia and NATO; or a more unified, tougher stance against Russia by the West. In the long term Turkey most likely will revert to its traditional role of balancing Russia by strengthening its ties with the West, while reducing its energy dependence on Russia.
  • Topic: Foreign Policy, Economics, Governance
  • Political Geography: Russia, United States, Europe, Turkey, Ukraine, Asia
  • Author: Marcus Noland
  • Publication Date: 04-2014
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: In recent years, despite a history of enmity and armed conflict that never really ended after the Korean War more than 60 years ago, South Korea has been a major investor in North Korea, and South Korean firms have employed more than 50,000 North Korean workers. South Korea's stated goal has been to encourage sufficient economic progress by North Korea, emboldening it toward establishing a meaningful basis for reconciliation and, ultimately, national unification. The expectation, or at least the hope, has been to use economic engagement to lessen the North's direct state control over the economy and to encourage the development of a middle class that might demand greater internal opening. The goal, as enunciated by former South Korean President Kim Dae-jung, has also been to foster a rise of interest groups with an enhanced stake in peaceable external relations.
  • Topic: Economics, Human Rights, International Trade and Finance, Bilateral Relations
  • Political Geography: Asia, South Korea, North Korea
  • Author: Joseph E. Gagnon
  • Publication Date: 06-2014
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: For the major advanced economies and the world as a whole, insufficient aggregate demand—that is, too little spending—impeded recovery from the Great Recession of 2008-09. By manipulating their currencies to boost their net exports, many countries made a bad situation worse for their trading partners, which saw demand shifted away. The world needs policies that increase total demand rather than policies that fight over the allocation of the existing amount of demand.
  • Topic: Economics, International Trade and Finance, International Monetary Fund
  • Political Geography: Europe, Asia, Switzerland, Singapore
  • Author: Marcus Noland, Cullen S. Hendrix
  • Publication Date: 04-2014
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: Myanmar is in the midst of a long and difficult multifaceted transition, involving political liberalization, economic reform, and the resolution of multiple long-standing civil conflicts. The country has a history of ethno-religious conflict and separatism. Civil-military relations are muddy, and business-military-state relations are similarly opaque. An ongoing natural resource boom, and the blessings and curses that come with it, further complicates these developments. Given the country's evident institutional weaknesses, external policy anchors could play a critical role in this transition. Hendrix and Noland address the possible role for such international precommitment mechanisms—in particular, the Extractive Industries Transparency Initiative (EITI)—in Myanmar's growing extractive sector.
  • Topic: Economics, Ethnic Conflict, Governance, Reform
  • Political Geography: Asia, Myanmar
  • Author: Rainer Geiger
  • Publication Date: 04-2014
  • Content Type: Policy Brief
  • Institution: Columbia Center on Sustainable Investment
  • Abstract: Launched in July 2013 by the European Union and the United States, the Transatlantic Trade and Investment Partnership (TTIP) represents an important effort to reach a comprehensive economic agreement between two major trading partners. As has been pointed out, the project offers great opportunities for liberalizing trade and investment and regulatory convergence. Its level of ambition implies high risks, but despite negotiators' initial optimism, its success is far from certain.
  • Topic: Economics, International Trade and Finance, Treaties and Agreements, Foreign Direct Investment
  • Political Geography: United States, Europe
  • Author: John Gaffney, James Nicholson
  • Publication Date: 06-2014
  • Content Type: Policy Brief
  • Institution: Columbia Center on Sustainable Investment
  • Abstract: In their contribution to the FDI Perspectives series, Baiju Vasani and Anastasiya Ugale drew attention to an emerging trend in favor of the so-called "costs follow the event" (CFtE) (or loser pays) approach, which is in contrast to the more "traditional" approach under which parties share the costs of arbitration equally, with each party covering its own legal fees.
  • Topic: Economics, International Trade and Finance, Foreign Direct Investment
  • Author: Rolf Pendall, Margery Austin Turner
  • Publication Date: 05-2014
  • Content Type: Policy Brief
  • Institution: Urban Institute
  • Abstract: Many community development initiatives traditionally funded by foundations and the federal government evolved to respond to the economic conditions and barriers facing communities in big cities of the northeast and midwest. But conditions are dramatically different in Houston and other fast-growing metros like it. Neighborhood Centers, Inc. is developing and testing strategies for connecting underserved people to opportunities that reflect the realities of Houston's geography, demographics, and economy. This paper is intended to start a discussion about how these strategies differ from more traditional place-based antipoverty strategies, and how similar approaches may suit other metros like Houston.
  • Topic: Economics, Human Welfare, Governance, Reform
  • Author: Devlin Hanson, Margaret Simms
  • Publication Date: 05-2014
  • Content Type: Policy Brief
  • Institution: Urban Institute
  • Abstract: This brief updates Perspectives on Low - Income Working Families brief 9, " Children of Immigrants: National and State Characteristics" (Fortuny et al. 2009) and Perspectives on Low - Income Working Families brief 17,"Children of Immigrants: 2008 State Trends Update "(Fortuny 2010) . This brief presents da ta highlights from the 2010 and 2011 American Community Surveys. The statistics presented in this brief and others can be accessed through the Children of Immigrants Data Tool web site. Also, interactive maps showing these statistics over time and across states can be found at the Children of Immigrants Interactive Map website.
  • Topic: Economics, Human Welfare, Immigration
  • Political Geography: North America
  • Author: Stefano Micossi, Ginevra Bruzzone, Miriam Cassella
  • Publication Date: 05-2014
  • Content Type: Policy Brief
  • Institution: Centre for European Policy Studies
  • Abstract: In July 2013, the European Commission adopted a new Banking Communication – the seventh since the start of the financial crisis – updating its criteria for the evaluation of state aid in the banking sector in response to the evolving economic and institutional environment. Under this Communication, any credit institution in need of recapitalisation or 'impaired asset' measures will be required, prior to any further action, to submit a plan for restructuring or the orderly winding down the bank. Moreover, whenever there is a capital shortfall, the Commission will require that, prior to any injection of public funds, not only shareholders – as has been the case so far – but also junior creditors write down or convert into equity their claims on the bank, regardless of whether the bank is under resolution, in order to minimise the need for state aid.
  • Topic: Economics, International Trade and Finance, Monetary Policy
  • Political Geography: Europe
  • Author: Domenico Lombardi, James M. Boughton, Skylar Brooks
  • Publication Date: 06-2014
  • Content Type: Policy Brief
  • Institution: Centre for International Governance Innovation
  • Abstract: The IMF has struggled for decades to develop a set of lending practices that enable sovereign borrowers to resolve serious debt problems and restore economic growth, but also respect the right of private financial markets to enter into and enforce contractual obligations. The challenge has always been to operate under a well-defined set of principles while dealing with each situation in a way that takes account of relevant circumstances. Recently, the international financial crisis that began in 2008 and the subsequent European sovereign debt crisis have raised this challenge to new heights. In providing €30 billion to Greece — the largest financial package ever granted to a single country — the IMF invoked greater discretion in its lending decisions to counteract potential "systemic" crises. By doing so, it entered a program without a restructuring agreement.
  • Topic: Debt, Economics, International Trade and Finance, International Monetary Fund, Reform
  • Author: John Lee, Charles Horner
  • Publication Date: 04-2014
  • Content Type: Policy Brief
  • Institution: Hudson Institute
  • Abstract: U.S. administrations and officials are consistently caught flat-footed by the increasing assertiveness of the People's Republic of China (PRC) over disputed territories in the East China and South China Seas. This assertiveness is strident, yet controlled. Beijing's objectives in the region, with respect to maritime issues in particular, have been apparent for several decades. While the United States is well aware of the PRC's "talk and take" approach—speaking the language of negotiation while extending de facto control over disputed areas—U.S. policy has been tactical and responsive rather than strategic and preemptive, thus allowing China to control the pace and nature of escalation in executing talk and take.
  • Topic: International Relations, Diplomacy, Economics, International Trade and Finance, Bilateral Relations
  • Political Geography: United States, China, Asia
  • Author: Evan Braden Montgomery
  • Publication Date: 06-2014
  • Content Type: Policy Brief
  • Institution: Belfer Center for Science and International Affairs, Harvard University
  • Abstract: What are the potential consequences of China's military modernization? This question is at the heart of recent debates over the durability of U.S. primacy, whether or not the United States can sustain its grand strategy of global engagement, and how it should adapt its armed forces. During the past two decades, China has been increasing its defense spending, developing new war fighting strategies, and fielding advanced weapons systems. Yet many scholars and policymakers still believe that U.S. dominance will remain uncontested.
  • Topic: International Relations, Foreign Policy, Economics, International Security, Military Strategy
  • Political Geography: North America
  • Author: Mohsin Khan
  • Publication Date: 02-2014
  • Content Type: Policy Brief
  • Institution: Atlantic Council
  • Abstract: The popular uprisings that swept the Middle East in early 2011 dramatically altered the political landscape of the region with the overthrow of autocratic regimes in Egypt, Libya, Tunisia, and Yemen. These uprisings gave hope to citizens that this was the beginning of a long-overdue process of democratic transition in the Arab world. The monarchies of Jordan and Morocco also went through profound political changes, even though the rulers maintained their power. While the promise of democracy in the Arab transition countries was seen as the driving force in the uprisings, economic issues were an equally important factor. The explosive combination of undemocratic regimes, corruption, high unemployment, and widening income and wealth inequalities all created the conditions for the uprisings. The citizens of these countries thus expected governments to simultaneously address their political and economic demands.
  • Topic: Political Violence, Economics, International Trade and Finance, International Monetary Fund
  • Political Geography: Middle East, Libya, Yemen, Arabia, Egypt, Jordan, Morocco, Tunisia