Search

You searched for: Content Type Policy Brief Remove constraint Content Type: Policy Brief Topic Political Economy Remove constraint Topic: Political Economy
Number of results to display per page

Search Results

  • Author: Mark Hallerberg, Christopher Gandrud
  • Publication Date: 03-2017
  • Content Type: Policy Brief
  • Institution: Bruegel
  • Abstract: Japan serves as a cautionary tale for Italy on how to clean up banking-sector problems. A general lesson is the need for policies to forthrightly address non-performing loans (NPLs) in countries with widespread banking problems. This helps address zombie banks and sluggish economic growth. The Japanese experience indicates that three elements are necessary to address NPLs: (a) sufficiently capitalised banks that can take losses from NPL write-downs; (b) an independent regulator that can identify problems and force action; and (c) tools to manage the orderly disposal of NPLs. The problem is not that this combination of policy tools is unknown, but that banks and governments lack incentives to use them in combination. Italy’s December 2016 package providing €20 billion for recapitalisation of banks is a step in the right direction. Similarly, pressure from the European Central Bank on Italian authori- ties and on banks to address NPLs is welcome. However, policy tools to manage and dispose of NPLs and, just as importantly, incentives to use them, are lacking. In January 2017, the European Banking Authority published a set of policy proposals for NPL resolution. Those include national and European-level public asset management companies (AMC), also known as ‘bad banks’. We argue that in Italy, the incentives to use such tools and dispose of NPLs have been weak.
  • Topic: International Trade and Finance, Political Economy, Economic structure, Global Political Economy
  • Political Geography: Japan, Italy
  • Author: Kirill Rogov
  • Publication Date: 11-2016
  • Content Type: Policy Brief
  • Institution: Finnish Institute of International Affairs
  • Abstract: The recent 2016 Duma elections were planned by the Kremlin to attest to the fact that the period of troubled political development – which began during the previous 2011 Duma elections – is over. Further, the elections served to test Putin’s consolidated authoritarianism on the eve of the forthcoming presidential elections in 2018. While successful in terms of preserving full control over the new Duma, the election results nevertheless demonstrated that the patriotic enthusiasm evoked by the annexation of Crimea has largely been exhausted. The pressure on the opposition, new electoral rules and reliance on regions with so-called “administrative voting” secured a victory for the party of power, but in urban regions the turnout was very low and voting for the Kremlin’s party did not differ much from 2011 patterns. Although the direct effect of the economic crisis on people’s political attitudes is still moderate, the continued long-term stagnation in the Russian economy that started even before the fall in energy prices remains the major challenge for regime stability. Ambiguous election results force the Kremlin to seek new instruments of political consolidation. The Kremlin’s most probable strategy may be to combine toughening authoritarian institutions with maintaining high tension in the international arena in order to prolong the ‘rally around the flag’ effect domestically, by attempting or promising “authoritarian modernization” to gain support in urban regions. As the presidential election date approaches, both Putin’s foreign and economic policies could become even riskier than they have been to date.
  • Topic: International Cooperation, Political Economy, International Affairs, Elections, Geopolitics
  • Political Geography: Russia
  • Author: Cyrus Rustomjee
  • Publication Date: 03-2016
  • Content Type: Policy Brief
  • Institution: Centre for International Governance Innovation
  • Abstract: The world’s oceans are crucial to human life. They cover 71 percent of the earth’s surface and contain 97 percent of the earth’s water (Oceanic Institute 2016); provide vital ecosystem services; serve as a growing source of renewable energy and make crucial contributions to global food production and food security, through the provision of food, minerals and nutrients. Fish provide 4.3 billion people with about 15 percent of their intake of animal protein (UN Food and Agriculture Organization [FAO] 2014b). Over 3.1 billion people live within 100 km of the ocean or sea in about 150 coastal and island nations (FAO 2014a), and global ocean economic activity is estimated to be US$3–5 trillion (FAO 2014b). Oceans and seas serve as waterways for global trade, with more than 90 percent of global trade carried by sea (International Maritime Organization 2012). Some 880 million people depend on the fisheries and aquaculture sector for their livelihoods (ibid.). Recognition of the services and resources provided by oceans has accelerated in recent years, spurred by the opportunities and challenges posed by a rapidly growing global population, increasing global demand for food and energy, advances in technology, and changes in patterns of global trade and human consumption. Developed countries have expanded fisheries, tourism and other oceanic and maritime industries; extended mineral exploration and extraction; and scaled up ocean-related scientific, technological and industrial research. Using increased knowledge of marine biodiversity, they have developed new value chains in pharmaceuticals, health care and aquaculture; and many have established integrated national ocean economy strategies, bringing together the regulatory, environmental, spatial, policy, institutional, industrial and other factors influencing their ability to exploit maritime resources.
  • Topic: Environment, Political Economy, Maritime Commerce, Biosecurity, Natural Resources
  • Political Geography: Caribbean, Global Focus
  • Author: Dinshaw Mistry
  • Publication Date: 01-2016
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: In the early and mid-2000s, US policymakers anticipated India becoming one of America's top global partners. Have New Delhi's policies on key strategic issues actually aligned strongly with US objectives, as would be typical of close partners? An analysis of twelve prominent issues in US-India relations indicates that New Delhi's policies mostly converged moderately, rather than to a high extent, with US objectives. Specifically, the alignment between New Delhi's policies and US objectives was high or moderate-to-high on three issues—UN peacekeeping, nonproliferation export controls, and arms sales. It was moderate or low-to-moderate on six issues—China, Iran, Afghanistan, Indian Ocean security, Pakistan, and bilateral defense cooperation. And it was low or negligible on three issues—nuclear reactor contracts for US firms, nuclear arms control, and the war in Iraq. To be sure, despite the low or negligible convergence, New Delhi did not take an anti-US position on these issues. Four factors explain why New Delhi's policies aligned unevenly with US objectives across the issues: India's strategic interests (that diverged from US interests on some issues); domestic political and economic barriers (that prevented greater convergence between India's policies and US objectives); incentives and disincentives (that induced New Delhi to better align with US objectives); and certain case-specific factors. This analysis suggests that, rather than expecting India to become a close ally, US policymakers should consider it a friendly strategic partner whose policies would align, on the average, moderately with US strategic interests.
  • Topic: Conflict Resolution, Arms Control and Proliferation, Nuclear Weapons, Political Economy, Peacekeeping
  • Political Geography: India, Asia
  • Author: Wei Wang, Gemma Estrada, Jurgen Conrad, Sang-Hyop Lee, Donghyun Park
  • Publication Date: 05-2016
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: As demand from global markets declines, slowing exports of manufactured goods from the People's Republic of China means the country must increasingly rely on domestic markets for growth. Unlike manufactured goods, services—those "intangible" products that include everything from transportation to scientific research to real estate services—are geared more toward domestic markets. Services, then, will be key to the rebalancing process. However, while the service sector has grown rapidly in the PRC, it continues to lag behind other countries at similar stages of development. In addition, the sector is dominated by traditional low-end types of services, rather than knowledge-intensive services. Heavy regulatory burdens, barriers to trade in services, and an unfavorable policy environment have been major obstacles to upgrading the sector and improving its competitiveness. Policy reform should focus on strengthening competition to raise productivity, with the goal of increasing not only the number of jobs and contribution to GDP, but also of positioning the service sector to compete internationally and spur export growth.
  • Topic: International Trade and Finance, Markets, Political Economy, Reform, GDP
  • Political Geography: China
  • Author: Susan Stigant, Elizabeth Murray
  • Publication Date: 10-2015
  • Content Type: Policy Brief
  • Institution: United States Institute of Peace
  • Abstract: National dialogue is an increasingly popular tool for conflict resolution and political transformation. It can broaden debate regarding a country’s trajectory beyond the usual elite decision makers; however, it can also be misused and manipulated by leaders to consolidate their power. This brief includes principles to strengthen national dialogue processes and considerations for international actors seeking to support these processes.
  • Topic: Conflict Resolution, Diplomacy, Political Economy, Governance
  • Political Geography: Global Focus
  • Author: Susan Schadler
  • Publication Date: 11-2015
  • Content Type: Policy Brief
  • Institution: Centre for International Governance Innovation
  • Abstract: Against the International Monetary Fund’s (IMF’s) fraught experience with crises where debt restructuring is needed, Ukraine’s recent restructuring agreement has been a success. Several factors — in particular, Ukraine’s geopolitical position and the composition of its creditors — facilitated official support for the deal. As these are unlikely to be replicated in future debt crises, the IMF still needs a revamping of its policies and approach in crises requiring debt restructuring. This policy brief examines a number of key challenges in the evolution of a coherent role for the IMF in future crises.
  • Topic: Debt, Political Economy, International Monetary Fund, Financial Crisis, Global Markets
  • Political Geography: Ukraine
  • Author: Marcus Noland
  • Publication Date: 11-2015
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: Unconventional monetary policy (UMP) has had predictable effects. How exit plays out is scenario-dependent. Quantitative easing has had the predictable effect of encouraging currency depreciation and some partner countries may have attempted to offset these exchange rate effects. Korea presents a particularly interesting case: it is relatively small and relatively open and integrated, in both trade and financial terms, with the United States and Japan, two practitioners of UMP. Authorities have acted to limit the won's appreciation primarily against the currency of China, not the US or Japan. Nevertheless, Korea's policy is a source of tension with the US. Under legislation currently being considered, the currency manipulation issue could potentially interfere with Korean efforts to attract direct investment from the US and create an obstacle to Korea joining the Trans-Pacific Partnership.
  • Topic: Economics, International Trade and Finance, Political Economy, Monetary Policy, Foreign Direct Investment
  • Political Geography: Asia
  • Author: Boy Lüthje, Christopher A. McNally
  • Publication Date: 10-2015
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: The global financial crisis of 2008-09 led to a policy consensus in China that its socioeconomic development model needed rebalancing. China's rapid development has been based on extensive growth reliant on exports, low wages, environmental exploitation, and the manufacturing of cheap products. China's current plans identify paths to economic rebalancing through intensive growth driven by rising investment in new technologies and manufacturing processes, improved wages and skills, and improved worker and environmental protections. Two industries, automotive and information technology, demonstrate the experience of and opportunities for rebalancing. Both offer improved employment conditions with better wages, but continue to incorporate large swaths of low-wage employment with little protection for workers' health and the environment. Economic rebalancing in China, therefore, has so far only appeared in pockets. Institutional safeguards for wages and labor standards remain constrained by powerful alliances among multinational corporations, Chinese state-owned/private enterprises, and the Chinese state.
  • Topic: Economics, Political Economy, Labor Issues, Financial Crisis
  • Political Geography: China
  • Publication Date: 02-2015
  • Content Type: Policy Brief
  • Institution: The Soufan Group
  • Abstract: King Salman has confirmed his reputation as a religious conservative through the reappointment of traditionalist clerics However he has also made some effort to streamline the Saudi government Recent changes have given considerable power to two men from the next generation: King Salman's son and his nephew The result may be good for hard security measures, but less certain for the soft measures necessary for Saudi Arabia to weather the storm.
  • Topic: Security, Development, Economics, Islam, Political Economy, Governance
  • Political Geography: Middle East, Arabia
  • Author: Samuel Helfont
  • Publication Date: 08-2015
  • Content Type: Policy Brief
  • Institution: Foreign Policy Research Institute
  • Abstract: Defining – and distinguishing between – the terms Islam and Islamism has broad consequences for America, both domestically and internationally. However, teaching about the relationship between these two concepts involves negotiating numerous sensitivities and it can cause considerable consternation for educators. At the most basic level, Islam is a major world religion practiced by well over a billion people, and Islamism is a political ideology to which a subset of the broader Islamic community adheres. The importance of this distinction seems fairly clear. The United States, and the American body politic more generally, views itself as committed to secular governance and religious freedom. While Islam is not completely immune from criticism, Americans have traditionally objected to state interference in religious matters and, theoretically, they should expect the same standards to apply to Islam. Therefore, Islam as a religion would seem to have a clear place in the diverse fabric of American society. Islamism, as a political ideology, opens itself to harsher critiques and even questions about its appropriateness in, or compatibility with, the American political system. Unsurprisingly, American public discourse suggests that Americans generally feel much more comfortable with Islam than they do with Islamism.
  • Topic: Islam, Political Economy, Politics, Religion
  • Political Geography: United States of America
  • 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: Scott S. Smith
  • Publication Date: 03-2014
  • Content Type: Policy Brief
  • Institution: United States Institute of Peace
  • Abstract: Afghanistan's democratic development has taken place within the tight embrace of international support and the conception of "free and fair" elections that comes with it, but Afghan and inter-national views on what to expect from elections have diverged in the past, leading to a deepening of distrust between the Karzai-led Afghan government and the international community. The run-up to the 2014 presidential elections has been shaped by this distrust. Nonetheless, with the breakdown of the reconciliation effort with the Taliban and uncertainty about the result of the transition process due to President Hamid Karzai's unexpected refusal to sign the Bilateral Security Agreement (BSA), the April 5 election is the only remaining opportunity for a political resolution of the continuing crisis in Afghanistan. A more complete understanding of the 2009 elections—how they were and were not a disaster—can help to narrow the gap between Afghan and international expectations; and an understanding of some of the changes that have occurred in Afghan society since 2009 can offer reason for optimism that the election will at the least create space for political elites to address the root causes of the crisis.
  • Topic: Conflict Resolution, Security, Corruption, Democratization, Political Economy, Insurgency
  • Political Geography: Afghanistan
  • Author: William A. Byrd, Javed Noorani
  • Publication Date: 12-2014
  • Content Type: Policy Brief
  • Institution: United States Institute of Peace
  • Abstract: Case studies of five ongoing mining operations show that Afghan mining companies are wantonly exploiting easily extractable mineral resources with little or no taxes and royalties going to the government. Revenue losses from just two sources —royalties and land rent —at the five mines are more than US$50 million per year. Total revenue losses from all sources for the hundreds of mines contracted to different companies easily could be hundreds of millions of dollars annually. The tendering processes, awards, and contents of contracts issued, contract implementation, and actual operations at the mines all showed clear signs of political interference, favoring bidders that often had no prior mining experience. Companies usually began extracting resources soon after mining contracts were awarded, without paying any taxes and royalties —even though the contract called for an initial exploration period. Companies did not provide the legally and contractually required documents, such as exploration reports and environmental and social impact assessments. Effective inspections of mines were not conducted, and companies were not held accountable for payments due. Sometimes mining activities precipitated local conflicts, resulting in violence and deaths; weaker local communities called on Taliban elements for support in one such dispute. Serious reforms are needed to ensure that mining activities are developmentally beneficial and that revenues generated are paid to the government.
  • Topic: Economics, Political Economy, Natural Resources, Governance, Reform
  • Political Geography: Afghanistan, Taliban
  • Author: Ricardo Fuentes-Nieva, Nicholas Galasso
  • Publication Date: 01-2014
  • Content Type: Policy Brief
  • Institution: Oxfam Publishing
  • Abstract: In November 2013, the World Economic Forum released its 'Outlook on the Global Agenda 2014', in which it ranked widening income d is parities as the second greatest worldwide risk in the coming 12 to 18 months. Based on those surveyed, inequality is 'impacting social stability within countries and threatening security on a global scale.' Oxfam shares its analysis, and wants to see the 2014 World Economic Forum make the commitments needed to counter the growing tide of inequality.
  • Topic: Security, Democratization, Economics, Political Economy, Poverty, Social Stratification
  • Author: Itriago Déborah
  • Publication Date: 09-2014
  • Content Type: Policy Brief
  • Institution: Oxfam Publishing
  • Abstract: Despite economic growth and the reduction of both poverty and inequality that Latin America and the Caribbean (LAC) has experienced during the last decade, it still remains the most unequal region in the world.
  • Topic: Economics, Political Economy, Sociology
  • Political Geography: Latin America, Caribbean
  • Publication Date: 10-2014
  • Content Type: Policy Brief
  • Institution: The Soufan Group
  • Abstract: The student-led, pro-democracy 'Umbrella Revolution' currently underway in Hong Kong is the most significant uprising within the sphere of the People's Republic of China since the Tiananmen Square demonstrations in 1989 Angered by Beijing's restrictions to candidate choices for the upcoming 2017 election, Hong Kong's citizens are massing by the thousands to protest As the pro-democracy protests grow, the government's reaction threatens to becomes more aggressive, possibly bringing the situation to a tipping point reminiscent of Tiananmen Square The Chinese government believes it can't afford to back down-with a wariness influenced by events in Ukraine and the 'Arab Spring'-but it also can't afford another massacre; the world is watching and plays a much larger role in the Chinese economy than it did in 1989.
  • Topic: Conflict Prevention, Democratization, Human Rights, Political Economy
  • Political Geography: East Asia, Hong Kong
  • Author: Madoka Futamura
  • Publication Date: 12-2013
  • Content Type: Policy Brief
  • Institution: United Nations University
  • Abstract: Countries under transition from war to peace or from an authoritarian to a democratic regime face fundamental political and social transformations and difficulties in emerging from a problematic past. The transition presents challenges but also opportunities for countries to reconsider their death penalty policies. It is in such a context that some countries abolish, retain or even actively resort to the death penalty to tackle transitional needs. Those who are working for abolition of the death penalty need to go beyond the human rights approach and take a more holistic approach to understand the fragile and complex local situation and needs in which the death penalty becomes a highly political issue.
  • Topic: Political Violence, Democratization, Development, Human Rights, Political Economy, Prisons/Penal Systems, Reform
  • Author: Danielle Resnick
  • Publication Date: 10-2013
  • Content Type: Policy Brief
  • Institution: United Nations University
  • Abstract: When, why and how has foreign aid facilitated, or hindered, democracy in recipient countries? Focusing on sub-Saharan Africa, this policy brief examines the impact of foreign aid on supporting transitions from one-party to multi-party regimes, preventing democratic breakdown and the erosion of civil liberties, enhancing vertical and horizontal accountability, and enabling competitive political party systems. Particular attention is given to the trade-offs and complementarities between different types of foreign aid, namely democracy assistance and economic development aid. Select policy recommendations are offered to improve aid effectiveness at bolstering democratic trajectories within the region.
  • Topic: Civil Society, Democratization, Development, Economics, Human Rights, Political Economy, Foreign Aid
  • Political Geography: Africa
  • Author: Baldur Thorhallsso, Alyson J. K. Bailes
  • Publication Date: 09-2013
  • Content Type: Policy Brief
  • Institution: Finnish Institute of International Affairs
  • Abstract: Iceland applied for EU membership in 2009 at the height of the economic crisis. Four years later, a new government has put the application on hold: the majority of Icelanders are opposed to entry, but want to continue the accession process and put the results to a vote. Iceland's longer-standing problems with European integration stem from the issue of sovereignty in general, and maintaining control over fisheries and agriculture in particular. Since 2009, anti-European feelings have been stoked by the 'Icesave' dispute, while the prospective benefits of entry (including use of the euro) have been tarnished by witnessing the fate of other small states during the euro crisis. The new government proposes remaining a member of the EEA and developing relations with other world powers. But the US commitment to Iceland has weakened over the years, and 'rising' powers like China are unable, as yet, to solve the country's core problems. In terms of both its security and its standing within the global economy, Iceland is becoming more rather than less dependent on Europe over time. The question raised by the latest political turn is whether it will have to maintain that relationship from a distance, with limited control and with no guaranteed goodwill.
  • Topic: Economics, International Trade and Finance, Political Economy, Regional Cooperation, Treaties and Agreements, Financial Crisis
  • Political Geography: United States, Europe