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  • Author: Malcolm D. Knight
  • Publication Date: 04-2017
  • Content Type: Working Paper
  • Institution: Istituto Affari Internazionali
  • Abstract: This paper is premised on the fact that the most important macroeconomic policy issue confronting global leaders at this time is the need to restore, modernize and expand the international network of basic infrastructure that underpins global economic activity. This would help foster stronger long-term productivity growth and per capita output. This paper first outlines key policy elements that are needed within each country to design and implement a successful National Infrastructure Investment Programme (NIIP). It then describes how these NIIPs could be integrated into an Internationally Coordinated Infrastructure Investment Programme (iCIIP), and the complementary roles that the G7 and G20 summit leaders could play in carrying out this vast programme of infrastructure renewal and expansion. The G7, as a tightly knit group of advanced countries, can be instrumental in giving a clear impetus to key elements of the iCIIP strategy. The G20 instead is the appropriate body to set the course of modernization and expansion of a renewed, internationally-integrated network of basic productive infrastructure, and to guide the iCIIP as it is implemented over the next decade.
  • Topic: International Relations, International Cooperation, International Affairs
  • Political Geography: Global Focus
  • Author: Rolf Langhammer
  • Publication Date: 04-2017
  • Content Type: Working Paper
  • Institution: Istituto Affari Internazionali
  • Abstract: While Germany continues to defend an open trading system it is not prepared to play a proactive role in pushing for liberalization of global trade. Preventing further disintegration in Europe has a higher priority for the German government than further integration in the world economy. Such priority does not only match with widespread skepticism in the German electorate on the gains from globalization. It also complies with an implicit understanding in the government that further globalization should be subject to stricter public surveillance. On nancial stability, German authorities emphasize the need to minimize the role of taxpayers in future bail-outs and giving regulators the power to force troubled banks to restructure or liquidate. Germany is also keen for the imposition of a nancial transactions tax at the global level. On macroeconomic policy, the increased reliance on domestic demand to spur growth in Germany will contribute towards global rebalancing. Given its scal space, boosting Germany’s public investment could be part of a collective e ort to address global demand weakness while addressing long-term growth challenges through structural reforms.
  • Topic: International Cooperation, International Affairs
  • Political Geography: Global Focus
  • Author: Stephen Pickford, Paola Subacchi
  • Publication Date: 04-2017
  • Content Type: Working Paper
  • Institution: Istituto Affari Internazionali
  • Abstract: Most G7 countries are facing political and economic uncertainties, and long-standing structural problems.The short-term outlook is reasonably positive, but longer term prospects are more challenging. These challenges have underlying economic causes stretching back many years, fostered by low productivity growth, stagnating real incomes and living standards, rising inequality and technological change. G7 countries should address short-term weaknesses, reduce political and policy uncertainties, and tackle these longer-term problems as well. Acting together to address these challenges will be more effective: (1) short-term and medium-term measures to boost growth should focus on fiscal actions (including infrastructure spending), normalizing monetary policy, completing financial regulatory reforms, and structural policies; (2) tackling policy uncertainties requires international consensus on consistent policies, starting with greater certainty over the direction of trade policy and over the Brexit negotiations. Sending positive signals on trade cooperation will be difficult, but the G7 could make progress on some specific issues such as a code of practice against competitive exchange rate devaluations; (3) an agenda to emphasize fairness could include: fair trading arrangements, implications of financial regulation for fairness and agreement on international corporate taxation to ensure companies pay their fair share of taxes.
  • Topic: International Relations, International Security, International Affairs
  • Political Geography: Global Focus
  • Author: Fabian Zuleeg
  • Publication Date: 07-2017
  • Content Type: Working Paper
  • Institution: European Policy Centre
  • Abstract: The Brexit negotiations continued this week with the UK government still insisting that the endpoint be an exit from the EU, including its Customs Union and the Single Market. But back in Britain, the turmoil is obvious, with different members of government taking diverging views, suggesting, at times, that a soft Brexit or a transition arrangement might be possible, even if it means concessions on the role of the European Court of Justice (ECJ), the exit payment, the rights of EU citizens and even (temporarily) continued freedom of movement of EU citizens.
  • Topic: Europe Union, Brexit
  • Political Geography: Europe
  • Author: Amanda Paul
  • Publication Date: 06-2017
  • Content Type: Working Paper
  • Institution: European Policy Centre
  • Abstract: On 28 June under the auspices of the UN, the leaders of the Greek and Turkish Cypriot Communities, Nicos Anastasiades and Mustafa Akinci, will meet in Crans-Montana, Switzerland, in a fresh effort to resolve the decades-old Cyprus problem following a recent five-month impasse in the talks. The three guarantor states, Greece, Turkey and the United Kingdom will also participate. A solution would be a win-win for both communities as well as the broader region. It would not only enhance the Cypriot economy, including possible new energy projects, but also bring a new climate of security and stability to the Eastern Mediterranean. However, while progress has been made on many areas, significant differences remain on the issue of security and guarantees. Overcoming these differences will on both sides require political courage, creative thinking and a readiness to compromise and let go of maximalist goals. Yet, even if the two leaders clinch an agreement, selling it to their respective communities will be a significant challenge as Cypriots are far from prepared for the comprises that an agreement requires.
  • Topic: International Relations, International Affairs
  • Political Geography: Cyprus
  • Publication Date: 08-2017
  • Content Type: Working Paper
  • Institution: Future for Advanced Research and Studies (FARAS)
  • Abstract: Ammar al-Hakim’s announcement on July 24, 2017 that he is stepping down as the leader of the Islamic Supreme Council of Iraq (ISCI) came after generation- al con icts surfaced between a number of the Coun- cil’s senior gures, who had visited Tehran to demand that he should be pressured over his reliance on the youth. Moreover, al-Hakim himself rejected attempts by senior members of the council to assume govern- ment positions, and even sought to build unique rela- tions with Arab and Western countries by presenting himself as an acceptable moderate Shiite gure. The outgoing leader is preparing for the upcoming elec- tions to be held across Iraq.
  • Topic: International Relations, International Security, International Affairs
  • Political Geography: Middle East
  • Publication Date: 08-2017
  • Content Type: Working Paper
  • Institution: Future for Advanced Research and Studies (FARAS)
  • Abstract: The escalating crisis between the United States and North Korea is of special importance for Iran. Firstly, the US Administration of President Donald Trump has designated both Iran and North Korea as an imminent threat to the national security of the United States. The approach builds on the administration of former president George W. Bush’s repeated labelling of Iran and North Korea, as well as Iraq, as key rogue states of the so-called axis of evil, who sponsor terrorism and seek to ac- quire weapons of mass destruction.
  • Topic: International Relations, International Security
  • Political Geography: Middle East
  • Publication Date: 08-2017
  • Content Type: Working Paper
  • Institution: Future for Advanced Research and Studies (FARAS)
  • Abstract: The Islamic Resistance Movement (more commonly known as Hamas) has recently intensified its efforts to enhance its relations with Iran, especially after President Hassan Rouhani was elected for a second term. It also seeks to invest favorable official attitudes inside Iran where most main- stream political parties are urging for what they believe is necessary support to some organizations operating across the region, including the occupied Palestinian Territories, and resume full- fledged relations with Hamas.
  • Topic: International Cooperation, International Security, International Affairs
  • Political Geography: Iran, Middle East
  • Publication Date: 01-2016
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This special report is prepared for the North American Forum (NAF). In 2015, CIGI’s Global Security & Politics Program became the Secretariat for the Canadian leadership within the NAF. CIGI will be undertaking a program of research to support the Canadian contribution to the NAF in cooperation with our American and Mexican partners. In the coming months, CIGI will publish additional reports to support the work of the NAF. Since the 1994 North American Free Trade Agreement, trade, investment and migration flows among Canada, Mexico and the United States have helped turn North America into one of the most dynamic and prosperous trade blocs on the planet. With a new government in Ottawa, it is an ideal time for Canada to make a stronger, deeper relationship with Mexico a crucial plank of a plan to secure a prosperous future for North America. Better relations between Mexico and Canada not only means more opportunities to take advantage of the two countries’ economic and social complementarities, it also gives the two countries the opportunity to closely work together to get the United States on board with an ambitious North American agenda to secure the continent’s economic future.
  • Topic: Security, Economics, International Trade and Finance, Politics, Regional Cooperation
  • Political Geography: United States
  • Author: Hongying Wang
  • Publication Date: 03-2016
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: In recent years, the world has seen rapid growth in China’s financial reach beyond its borders. Following the announcement of a “going out” strategy at the turn of the century, many Chinese enterprises have ventured to invest and operate abroad. After three decades as primarily a recipient of foreign direct investment (FDI), China has now emerged as a major FDI-originating country as well. Much of China’s foreign aid is closely entangled with its outgoing FDI, and it has also been rising. Since 2013, the Chinese government has been pushing for a new One Belt, One Road (OBOR) initiative, aiming to connect China with countries along the ancient Silk Road and a new Maritime Silk Road via infrastructure investment. In addition, since 2009, China has actively promoted the internationalization of its currency, the renminbi (RMB). There has been a great deal of anxiety about the motivations behind China’s going out policy and its possible international consequences. Many view it as an expression of China’s international ambition and a strategy that threatens the existing international order; however, that is not the whole story. An equally important but often less understood issue is the role of China’s domestic politics and political economy in shaping its new activism in foreign financial policy. Moreover, it is unclear how successful the going out policy is. The complexity of China’s going out policy was the topic for a recent round table discussion hosted by the Centre for International Governance Innovation and the Foreign Policy Institute at the School of Advanced International Studies of Johns Hopkins University in Washington, DC.[1] Participants discussed a number of issues around two broad themes: the impact of domestic political economy on China’s foreign economic policy and the challenges for China’s external financial strategy — in particular, its OBOR initiative.
  • Topic: Markets, Political Economy, Monetary Policy, Infrastructure, Foreign Direct Investment, Financial Markets
  • Political Geography: China