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2932. A Resurgent MERCOSUR: Confronting Economic Crises and Negotiating Trade Agreements
- Author:
- Thomas Andrew O'Keefe
- Publication Date:
- 02-2003
- Content Type:
- Working Paper
- Institution:
- The North-South Center, University of Miami
- Abstract:
- Almost from the day it was launched on March 26, 1991, skeptics have predicted the imminent collapse of the Common Market of the South (Mercado Común del Sur — MERCOSUR), while some economists have fretted about the project's supposed protectionist designs to create a trade fortress. The most memorable example of the latter was a 1996 report written by a World Bank economist that relied on out-of-date trade statistics and attributed to MERCOSUR policies that were actually pre-existing national automotive regimes. More recent tirades have tried to blame Argentina's economic meltdown on its MERCOSUR membership. A well-known economist from a New York City investment bank has even gone as far as to proclaim MERCOSUR dead. Given all the invective directed against efforts to integrate South America's Southern Cone economically over the past decade, it is not surprising that MERCOSUR is misunderstood by many in North America.
- Topic:
- Economics, International Trade and Finance, and Treaties and Agreements
- Political Geography:
- South America, Latin America, and North America
2933. The Changing Landscape of Financial Services in Latin America's Large Emerging Markets
- Author:
- Jerry Haar
- Publication Date:
- 07-2003
- Content Type:
- Working Paper
- Institution:
- The North-South Center, University of Miami
- Abstract:
- The Latin American financial services sector has been profoundly affected by the sweeping economic, legal, and regulatory reforms of the 1990s. Conversely, the sector has extensively impacted the economic liberalization process that has been the hallmark of Latin American development from the late 1980s through the present. This paper highlights trends in the financial services sector; discusses the key drivers of change, both globally and regionally; illustrates how three of those drivers — mergers and acquisitions (M), technology, and customer demand — are revolutionizing this sector; and reviews the organizational and strategic responses by financial firms to an increasingly competitive environment.
- Topic:
- Economics, Emerging Markets, and Globalization
- Political Geography:
- Latin America
2934. A Global Race for Free Trade Agreements
- Author:
- Arne Melchior
- Publication Date:
- 11-2003
- Content Type:
- Working Paper
- Institution:
- Norwegian Institute of International Affairs
- Abstract:
- The article examines the currently expanding worldwide network of bilateral free trade agreements. Following regional integration in Europe and later the Americas, the process if East Asia has accelerated from 2002. A Distinctive feature of the current stage in the expansion of FTAs beyond geographical regions and into global space, hence challenging WTOs supremacy on inter-continental trade rules. Setbacks in the WTO Doha Round may stimulate a further move towards «global bilateralism». The more such agreements in place, the greater is the incentive for new ones. Even if political obstacles hinder some agreements, the process is currently accelerating. While it is rational for countries to pursue such agreements, they should in parallel work for multilateral trade liberalisation in order to reduce the discriminatory impact of FTAs. This is needed if we are to avoid that «Most Favoured Nation» treatment under the WTO actually becomes «Least Favoured Nation» treatment: Rules that only apply to countries that are left outside the «free trade race».
- Topic:
- Economics, Globalization, International Trade and Finance, and Politics
- Political Geography:
- America, Europe, and East Asia
2935. Corruption and fast change: Shifting modes of micro-coordination
- Author:
- Jens Chr.1 Andvig
- Publication Date:
- 10-2003
- Content Type:
- Working Paper
- Institution:
- Norwegian Institute of International Affairs
- Abstract:
- The paper studies the effects on corruption of having coexisting, contradictory norms for allocating different micro-coordination modes across society. One important reason for their coexistence is fast change, and links to Huntington's classical analysis of corruption are worked out. The notion of micro-coordination most is exposed and its usefulness for explaining corruption is argues through examples. The examples outlined are corruption in land allocation in Kenya, the economic transition in post-communist countries and the global telecommunications industry.
- Topic:
- Economics and Industrial Policy
- Political Geography:
- Kenya and Africa
2936. A Polanyi Perspective on Post-Communist Corrruption
- Author:
- Jens Chr.1 Andvig
- Publication Date:
- 08-2003
- Content Type:
- Working Paper
- Institution:
- Norwegian Institute of International Affairs
- Abstract:
- The paper seeks to explain the present high levels of corruption in the post-communist countries, i.e. the centrally planned economies where the communist party lost power as the outcome of a specific historical process where both the character of the former economic system as well as that policy shock itself played key roles. Among the possible explanatory factors the study focuses on the effects of production decline and the 'monetarisation' of the economy which started before the policy shock.
- Topic:
- Development, Economics, and Government
2937. The Intangible Globalization: Explaining the Patterns of International Trade in Services
- Author:
- Leo A. Grünfeld and Andreas Moxnes
- Publication Date:
- 06-2003
- Content Type:
- Working Paper
- Institution:
- Norwegian Institute of International Affairs
- Abstract:
- We identify the determinants of service trade and foreign affiliate sales in a gravity model, using recently collected bilateral data for the OECD countries and their trading partners, as well as new indicators for barriers to service imports and foreign affiliate sales. We emphasize the strong links between service FDI and trade, since a large proportion of trade is facilitated through foreign affiliate sales. Trade barriers and corruption in the importing country have a strong negative impact on service trade and foreign affiliate sales. We find a strong home market effect in service trade, and rich countries do not tend to import more, which may indicate that rich countries have a competitive advantage in service trade. Free trade agreements do not contribute to increased service trade. A full liberalization of international trade in services in our model, lifts exports by as much as 50% for some countries, and no less than 30%.
- Topic:
- Economics, Globalization, and Science and Technology
2938. Study of selected Fredskorpset exchange projects
- Author:
- Axel Borchgrevink
- Publication Date:
- 06-2003
- Content Type:
- Working Paper
- Institution:
- Norwegian Institute of International Affairs
- Abstract:
- The present study examines nine Fredskorpset exchange projects, in order to assess the degree to which the goals specified have been reached. The basis for the exchanges is the partnerships established between institutions in Norway and counterpart entities in the South. The projects studied encompass a wide variety of such partnerships, illustrating the flexible and innovative attitude that Fredskorpset has shown during its first two years of operation. By basing its work on such partnerships, Fredskorpset has avoided some of the weaknesses of traditional volunteer programs. In terms of achievements, there are variations among the projects. While individual learning of participants was strong in all cases, the degree to which institutional benefits were achieved varied. Well-matched partners with sufficiently strong institutional structures; thorough planning of exchanges; and participants selected in accordance with well-defined needs for professional skills were seen to be important factors for successful projects.
- Topic:
- Economics, Industrial Policy, and International Trade and Finance
- Political Geography:
- Europe and Norway
2939. Industrial heterogeneity of the ICT industry—An exploratory survey on Norwegian firms
- Author:
- Arne Melchior
- Publication Date:
- 04-2003
- Content Type:
- Working Paper
- Institution:
- Norwegian Institute of International Affairs
- Abstract:
- The paper presents evidence from a limited survey undertaken among Norwegian ICT firms in 2001, supplemented with other statistical evidence. Corresponding to the limited production of ICT hardware in Norway, the hardware firms covered by the survey were dominated by sales outlets of foreign firms. While these firms are on average small and with a modest skill requirement, some of them are larger and more skill-intensive due to the provision of related software and services. Within-firm learning, higher education as well as sector- and industry-wide knowledge externalities generally matter to IT firms. Education is ranked third, and is more important for software and services than for hardware. Knowledge externalities are less important for foreign-owned firms. 2/3 of the firms surveyed produce various combinations of hardware, software and services, with software+services as the most frequent combination, composed by firms that are on average clearly larger than the sample average. Such firms rely more on learning within the firms and less on sectorwide knowledge externalities than other IT firms. Adaptation of products to individual customers is important for many IT goods, and implies that e.g. imported software frequently generates substantial domestic employment in related services. The survey tentatively suggests that such complementarities in production may be an important aspect of IT production. Norwegian IT exports are generally small, but pure software producers in the sample had larger exports.
- Topic:
- Economics, Education, Industrial Policy, and International Trade and Finance
- Political Geography:
- Norway
2940. Transition from socialism—the corruption heritage
- Author:
- Jens Chr.1 Andvig
- Publication Date:
- 02-2003
- Content Type:
- Working Paper
- Institution:
- Norwegian Institute of International Affairs
- Abstract:
- The paper explores the apparently high incidence of corruption in those former socialist countries where the Communist Party lost power. It argues that part of the explanation of the high corruption incidence is to be sought in the simultaneous production decline which gives rise to a Schumpeter effect, where former bureaucrats are becoming corruption entrepreneurs. Another important factor is the swift change in the ruling norms giving rise to a Huntington effect an overshooting of the applicability of the market mechanism. An important driver of both effects is the monetation of the centralised multi-tiered bartering system of the old socialist economies. That process is briefly compared to older forms of market expansion into decentralised non-market agricultural economies as analysed by Polanyi and Marx.
- Topic:
- Economics, Government, and Industrial Policy