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  • Author: Andreas Antoniades, Stephany Griffith-Jones
  • Publication Date: 01-2018
  • Content Type: Working Paper
  • Institution: Centre for Global Political Economy, University of Sussex
  • Abstract: This paper analyses the nature and characteristics of global debt dynamics in the post global financial crisis (GFC) period. First, we attempt to map the ways in which debt has been moving from sector to sector, and from one group of countries to another within the global economy. By capturing this inter-sectorial, inter-national, inter-regional movements of global debt we aspire to contribute to a more comprehensive understanding of global debt and its mode of operation. Second, we attempt to analyse what is wrong with global debt dynamics, i.e. we examine the broken link between what global debt was supposed to do and what it does. Here, we point to three interrelated dynamics: the accumulation of unproductive debt, growing inequalities of income and wealth, and the increase in privately-created, interest-bearing money.
  • Topic: Debt, Economics, Global Recession, Financial Crisis, Global Political Economy
  • Political Geography: United States, Global Focus, Global Markets
  • Author: Robert McNally
  • Publication Date: 01-2017
  • Content Type: Book
  • Institution: Columbia University Press
  • Abstract: As OPEC has loosened its grip over the past ten years, the oil market has been rocked by wild price swings, the likes of which haven't been seen for eight decades. Crafting an engrossing journey from the gushing Pennsylvania oil fields of the 1860s to today's fraught and fractious Middle East, Crude Volatility explains how past periods of stability and volatility in oil prices help us understand the new boom-bust era. Oil's notorious volatility has always been considered a scourge afflicting not only the oil industry but also the broader economy and geopolitical landscape; Robert McNally makes sense of how oil became so central to our world and why it is subject to such extreme price fluctuations. Tracing a history marked by conflict, intrigue, and extreme uncertainty, McNally shows how—even from the oil industry's first years—wild and harmful price volatility prompted industry leaders and officials to undertake extraordinary efforts to stabilize oil prices by controlling production. Herculean market interventions—first, by Rockefeller's Standard Oil, then, by U.S. state regulators in partnership with major international oil companies, and, finally, by OPEC—succeeded to varying degrees in taming the beast. McNally, a veteran oil market and policy expert, explains the consequences of the ebbing of OPEC's power, debunking myths and offering recommendations—including mistakes to avoid—as we confront the unwelcome return of boom and bust oil prices.
  • Topic: Economics, Oil, OPEC
  • Political Geography: United States, Middle East
  • Publication Identifier: 9780231543682
  • Publication Identifier Type: ISBN
  • Author: Samuel Knafo, Benno Teschke
  • Publication Date: 01-2017
  • Content Type: Working Paper
  • Institution: Centre for Global Political Economy, University of Sussex
  • Abstract: Marxism has often been associated with two different legacies. The first rests on a strong exposition and critique of the logic of capitalism, which has been grounded in a systematic analysis of the laws of motion of capitalism as a system. The second legacy refers to a strong historicist perspective grounded in a conception of social relations and an emphasis on the centrality of power and social conflict to analyse history. In this article, we challenge the prominence of structural accounts of capitalism, which are inspired by the first of these legacies and argue for the need to radicalize the agent-centered and historicist contribution of Marx that derive from the second. Our claim is that Marxists operating within a structural framework systematically fall into economistic readings of capitalism, which hinder the practice of historicisation Marxism was supposed to buttress. To make this argument, we show how this tension between these legacies has played out within Political Marxism (PM). We argue that both orientations – encapsulated in the simultaneous programmatic emphasis on historically specific social conflicts and determinate rules of reproduction that are logically deduced from definitive social property relations – co-existed already uneasily in Robert Brenner’s original contributions to the Transition Debate. We proceed by critically exploring the increasing reliance on a structural conception of the ‘rules of reproduction’ in later works of PM’s early proponents and by some of its contemporary followers. This, we argue, has led to the reification of capitalism and a growing divide between theoretical premises and historical explanation. In response, we seek to return to the early historicist innovation of PM and to recover and develop its commitment to a more contextualised and open-ended interpretation of social conflicts. Through this internal critique and re-formulation of PM, we wish to open a broader debate within Marxism on the need for a more agency-based account of capitalism, which builds more explicitly on the concept of social relations.
  • Topic: Economics, Socialism/Marxism, Capitalism
  • Political Geography: United States, Japan, Eastern Europe, Germany, Western Europe
  • Author: David S. Mitchell, Jeremy Smith
  • Publication Date: 01-2016
  • Content Type: Policy Brief
  • Institution: Aspen Institute
  • Abstract: On November 18, 2015, the Obama Administration's Department of Labor (DOL) published two important legal opinions that propose to give states new options for expanding retirement coverage for private-sector workers. These opinions open the door for states to move forward along one of two distinct paths: a payroll deduction plan that avoids ERISA, or a more traditional model that would fall under ERISA. This issue brief summarizes these rules and highlights the tradeoffs state policymakers will face when deciding which of these new avenues to pursue. The brief will be updated once the proposals are finalized.
  • Topic: Economics, Human Welfare, Labor Issues, Governance, Social Movement
  • Political Geography: United States
  • 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: Saul P. Limaye, Tsutomu Kikuchi
  • Publication Date: 01-2016
  • Content Type: Working Paper
  • Institution: East-West Center
  • Abstract: Until recently, Southeast Asia had not been a region of sustained focus for the US-Japan relationship. But the situation is changing. The international relations of the Asia-Pacific is becoming more "multipolarized." This requires the US and Japan to think about the future of the region beyond the issue of US-China relations, which has preoccupied past discussions. A number of nations and institutions in the Asia-Pacific region will substantially affect the region's future. Southeast Asian nations and the Association of Southeast Asian Nations (ASEAN) are among them. A new era of more coordinated, sustained, and combined commercial and security involvement by the US and Japan in Southeast Asia may be at hand. In light of these changes, the East-West Center in Washington (EWCW), in collaboration with the Japan Institute of International Affairs (JIIA), and through the support of the Sasakawa Peace Foundation (SPF), initiated a dialogue with Southeast Asians about their perspectives on how the US-Japan relationship and alliance could or should approach cooperation with the region.
  • Topic: Security, Economics, Markets, Peacekeeping
  • Political Geography: United States, Japan, China, Asia-Pacific
  • Author: Marek Wasinski
  • Publication Date: 04-2016
  • Content Type: Policy Brief
  • Institution: The Polish Institute of International Affairs
  • Abstract: In a communication of 12 April, the European Commission assessed the potential political and economic consequences of suspending visa exemption for U.S. citizens. Lacking pressure from individual EU Member States, the Commission discouraged such a move and gave the EU Council and European Parliament three months to take an official position. It seems almost certain that the measure of applying pressure on a non-EU country will not be used to help Poland and four other Member States obtain visa-free travel to the United States or other countries with a similar restriction. However, if current trends continue, Poland should join the U.S. Visa Waiver Programme in five years.
  • Topic: Economics, Politics, European Union, Citizenship
  • Political Geography: United States, Europe
  • Author: Sandy Brian Hager
  • Publication Date: 01-2016
  • Content Type: Working Paper
  • Institution: Centre for Global Political Economy, University of Sussex
  • Abstract: This paper offers new theoretical and empirical insights to explain the resilience of the U.S. Treasuries market as a safe haven for global investment. Going beyond the standard systemic explanation, the paper highlights the importance of domestic politics in reinforcing the safe haven status of U.S. Treasury securities. In particular, the research shows how a formidable “bond” of interests unites domestic and foreign owners of the public debt and works to sustain U.S. power in global finance. Foreigners who now own roughly half of the U.S. public debt have something to gain from their domestic counterparts. The top one percent of U.S. households that dominate domestic ownership of the U.S. public debt have considerable political clout, thus alleviating foreign concerns about the creditworthiness of the U.S. federal government. Domestic owners of the U.S. public debt, in turn, have something to gain from the seemingly insatiable foreign appetite for U.S. Treasury securities. In supplying the U.S. federal government and U.S. households with cheap credit, foreign investors in U.S. Treasuries help to deflect challenges to the top one percent within the wealth and income hierarchy.
  • Topic: Debt, Economics, International Political Economy, Inequality, Finance
  • Political Geography: United States, United Kingdom
  • Author: Benjamin Selwyn
  • Publication Date: 06-2016
  • Content Type: Working Paper
  • Institution: Centre for Global Political Economy, University of Sussex
  • Abstract: Global Value Chain (GVC) analysis is part and parcel of mainstream development discourse and policy. Supplier firms are encouraged, with state support, to ‘link-up’ with trans-national lead firms. Such arrangements, it is argued, will reduce poverty and contribute to meaningful socio-economic development. This portrayal of global political economic relations represents a ‘problem-solving’ interpretation of reality. This article proposes an alternative analytical approach rooted in ‘critical theory’ which reformulates the GVC approach to better investigate and explain the reproduction of global poverty, inequality and divergent forms of national development. It suggests re-labelling GVC as Global Poverty Chain (GPC) analysis. GPC’s are examined in the textiles, food, and high-tech sectors. The article details how workers in these chains are systematically paid less than their subsistence costs, how trans-national corporations use their global monopoly power to capture the lion’s share of value created within these chains, and how these relations generate processes of immiserating growth. The article concludes by considering how to extend GPC analysis.
  • Topic: Development, Economics, International Political Economy, Labor Issues, Inequality, Global Political Economy
  • Political Geography: United States, Eastern Europe, Asia
  • Author: Samuel Appleton
  • Publication Date: 10-2016
  • Content Type: Working Paper
  • Institution: Centre for Global Political Economy, University of Sussex
  • Abstract: The Bretton Woods conference is conventionally understood as a radical break between the laissez faire order and its ‘embedded liberal’ successor, in which finance was suppressed in the interest of trade and productive growth. The new institutions, particularly the IBRD are often considered emblematic of this. In response to this, the paper argues that the Bretton Woods order required the enlistment, not repression, of private American finance. Firstly, laissez-faire era proposals for international financial institutions provided important precedents for the Bretton Woods institutions. Second, these were predicated on the uniquely deep liquidity of American financial markets following upon Progressive-era reforms, in the legacy of which the Roosevelt administration sought to locate the New Deal. Thirdly, they found new relevance in the 1940s as the IBRD turned by necessity to American financial markets for operating capital. Negotiating the imperative of commercial creditworthiness had two important consequences. First, it entailed the structural and procedural transformation of the IBRD, and allowed management to carve out a proprietary terrain in which its agency was decisive. Second, this suggests that US agendas were mediated by the Bank’s institutional imperatives – and that finance was no more ‘embedded’ during the Bretton Woods era than its predecessor.
  • Topic: Development, Economics, World Bank, Global Markets, International Development, Global Political Economy
  • Political Geography: United States, Europe, Latin America
  • Author: Edmund S. Phelps
  • Publication Date: 02-2015
  • Content Type: Journal Article
  • Journal: The Cato Journal
  • Institution: The Cato Institute
  • Abstract: In his most recent tome, Edmund Phelps, the 2006 Nobel Laureate in Economic Science, addresses a topic crucial to successful national capitalist systems: the dynamics of the innovation process. Phelps develops his thesis around three main themes: In part one, he explains the development of the modern economies as they form the core of early—19th century societies in the West; in part two, he explores the lure of socialism and corporatism as competing systems to modern capitalism; and, in part three, he reviews post-1960s evidence of decline in dynamism in Western capitalist countries.
  • Topic: Economics
  • Political Geography: United States, Europe
  • Author: Nancy Birdsall
  • Publication Date: 02-2015
  • Content Type: Journal Article
  • Journal: Ethics & International Affairs
  • Institution: Carnegie Council
  • Abstract: Thomas Piketty's Capital in the Twenty-First Century is a tour de force—a compelling and accessible read that presents an eloquent and convincing warning about the future of capitalism.* Capitalism, Piketty argues, suffers from an inherent tendency to generate an explosive spiral of increasing inequality of wealth and income. This inegalitarian dynamic of capitalism is not due to textbook failures of capitalist markets (for example, natural monopolies) or failures of economic institutions (such as the failure to regulate these monopolies), but to the way capitalism fundamentally works. Unless the spiral is controlled by far more progressive taxation than is now the norm, the political fallout could undermine the viability of the successful “social state” (p. 471) in the advanced economies, putting the democratic state itself at risk.
  • Topic: Economics, Government, Politics
  • Political Geography: United States, United Kingdom, France
  • Author: Priya Singh
  • Publication Date: 05-2015
  • Content Type: Journal Article
  • Journal: Insight Turkey
  • Institution: SETA Foundation for Political, Economic and Social Research
  • Abstract: Robert O. Freedman\'s edited volume, Israel and the United States: Six Decades of U.S.-Israeli Relations, is a compilation of an interesting assortment of essays by Israeli and American scholars from various fields, contending with different aspects of a complicated and multilayered relationship that comprises not only diplomatic and economic links, but also religious, legal, military and strategic connections as well as common beliefs. The first section of the book articulates the political ties between the United States and Israel since 1948. It contends with U.S.-Israeli diplomatic relations, an enquiry of the progression of the pro-Israeli lobby in the United States, and an analysis of the evolution of U.S. public attitudes toward Israel. David Makovsky\'s essay, which deals with the U.S. and the Arab–Israeli conflict, emphasizes that the U.S.\'s relationship with Israel and the Arab world is not a zero-sum game and that the United States can maintain good ties with both sides. The essay reiterates that Israel has been an asset for the United States rather than a liability, which has been suggested by the likes of John Mearsheimer and Stephen Walt. Robert Freedman, in contending with the policies of George Bush and Barack Obama towards the Arab-Israeli conflict, brings to the fore the similarities in their approaches as well as the significant differences, with the former pursuing an episodic approach while the latter has adopted a more continuous line. In his essay on the pro-Israeli lobby in the United States, Dov Waxman discusses the ruptures and fissures that have emerged within the lobby and concludes that there is no single organization that can persuasively claim to exemplify the vast majority of American Jews; as such, its clout/influence is expected to wane. Amnon Cavari\'s essay deconstructs the shifting trends in American support for Israel, contending that a decline in support among college-educated Americans along with an upsurge in support among evangelical Christians could weaken bipartisan backing for Israel.
  • Topic: International Relations, Economics
  • Political Geography: United States, Israel
  • Author: Ondrej Ditrych
  • Publication Date: 02-2015
  • Content Type: Journal Article
  • Journal: The International Spectator
  • Institution: Istituto Affari Internazionali
  • Abstract: The crisis in Ukraine has turned the tables of the post-Cold War relationship between the United States and Russia. The ongoing transformation can result in a number of outcomes, which can be conceived in terms of scenarios of normalisation, escalation and 'cold peace' - the latter two scenarios being much more probable than the first. NATO ought to shore up its defences in Central and Eastern Europe while Washington and its allies engage in a comprehensive political strategy of 'new containment'. This means combining political and economic stabilisation of the transatlantic area with credible offers of benefits to partners in the East and pragmatic relations with Russia which are neither instrumentalised (as was the case with the 'reset') nor naïvely conceived as a 'partnership'.
  • Topic: International Relations, NATO, Cold War, Economics
  • Political Geography: Russia, United States, Europe, Washington, Ukraine
  • Author: Lindsay Oldenski
  • Publication Date: 09-2015
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: Reshoring—when firms shift manufacturing production back to the United States—has been getting a great deal of publicity lately. Oldenski examines the most recent data on the global operations of US firms and concludes that although some companies have reversed their previous offshoring decisions, there is no evidence of a widespread reshoring trend. But this should not be considered a defeat for US competitiveness. US multinationals continue to move operations offshore, but they also continue to grow stronger, producing more in their US operations and adding more to total US exports. The structure of US manufacturing has changed, but the ability to adapt to the changing nature of global business has been and will continue to be crucial to the continued growth of US manufacturing.
  • Topic: Economics, International Trade and Finance
  • Political Geography: United States
  • Author: Theodore Moran
  • Publication Date: 09-2015
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: For more than a decade, China has complained about what it maintains has been a pattern of erratic and politicized treatment of Chinese investors when they attempt to acquire US companies. The Chinese want the Committee on Foreign Investment in the United States (CFIUS) to be more open and transparent in its rulings and to not discriminate against Chinese firms. The United States is not likely to accede to these demands in any formal or legal manner. Moran proposes practical steps to address the concerns of Chinese investors without diluting CFIUS procedures. He provides a national security threat assessment filter, which allows Chinese investors—like investors of all nationalities—to determine when their proposed acquisitions might pose a genuine threat and when any such threat is simply not plausible. He also suggests that first-time Chinese investors seek expert counsel to overcome the secrecy surrounding CFIUS objections to figure out how to proceed with problematic acquisitions.
  • Topic: Economics, Markets, Foreign Direct Investment
  • Political Geography: United States
  • Author: Jeffrey Schott, Eujiin Jung, Cathleen Cimino-Isaacs
  • Publication Date: 12-2015
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: Of all the free trade agreements (FTAs) concluded by Korea with its major trading partners since the turn of the century, the Korea-China FTA may be the largest in trade terms. It is, however, far from the best in terms of the depth of liberalization and the scope of obligations on trade and investment policies. Korea and China agreed to liberalize a large share of bilateral trade within 20 years, but both sides incorporated extensive exceptions to basic tariff reforms and deferred important market access negotiations on services and investment for several years. Political interests trumped economic objectives, and the negotiated outcome cut too many corners to achieve such a comprehensive result. The limited outcome in the Korea-China talks has two clear implications for economic integration among the northeast Asian countries. First, prospects for the ongoing China-Japan-Korea talks will be limited and unlikely to exceed the Korea-China outcome. Second, Korea and Japan need to strengthen their bilateral leg of the northeast Asian trilateral and the best way is by negotiating a deal in the context of the Trans-Pacific Partnership.
  • Topic: Economics, International Trade and Finance, Politics, Bilateral Relations
  • Political Geography: United States, China, Asia, Korea
  • Author: William R. Cline
  • Publication Date: 11-2015
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: The latest semiannual fundamental equilibrium exchange rate (FEER) estimates find that the US dollar is now overvalued by about 10 percent, comparable to levels in 2008 through early 2010 and again in 2011. Unlike then, the current strong dollar does not reflect a weak renminbi kept undervalued by major exchange rate intervention by China. Instead, China's current account surplus has fallen sharply relative to GDP, and its recent intervention has been to prevent excessive depreciation rather than to prevent appreciation. Additionally, declines in the real effective exchange rates (REERs) for major emerging-market economies and resource-based advanced economies, driven by falling commodity prices in recent months, have strengthened the dollar. Recent increases in the REERs for the euro area and Japan have removed their modest undervaluation identified in the last FEERs estimates in May, and the Chinese renminbi remains consistent with its FEER. The dollar's rise by nearly 15 percent in real effective terms over the past two years could impose a drag of nearly one-half percent annually on US demand growth over the next five years. As the Federal Reserve moves to normalize US monetary policy, it may need to consider a gentler rise in interest rates than it might otherwise have pursued, both to temper possible further strengthening of the dollar in response to higher interest rates and to help offset the demand compression from falling net export
  • Topic: Economics, International Trade and Finance, Monetary Policy, GDP
  • Political Geography: United States, China
  • Author: Robert Z. Lawrence
  • Publication Date: 06-2015
  • Content Type: Working Paper
  • Institution: Peterson Institute for International Economics
  • Abstract: Over the past decade, the US economy has been plagued by sluggish wage growth and rising income inequality. The debate over inequality in the 1980s and 1990s focused on the growing disparity between the earnings of skilled and unskilled workers and the earnings of the super-rich. Growing inequality between capital and labor income has now been added to these concerns. Remarkably, the growth in real GDP per worker over the decade of the 2000s, which averaged 1.7 percent annually, was actually more rapid than in the 1970s, 1980s, or 1990s, yet in the 2000s workers saw almost no increase in their take-home pay. Consistent with this gap between labor productivity and wage growth was a pronounced decline in the share of US national income earned by workers. As labor's share has declined, the share of capital has risen and has been especially concentrated in corporate profits. As profits are far less equally distributed than wages, this increase has contributed to rising income inequality. There are several plausible reasons for this development—globalization, automation, weak bargaining power of labor, political capture, higher markups—but the natural starting point for explaining factor income shares is the neoclassical theory of the functional distribution of income enumerated by John Hicks and Joan Robinson in the 1930s. In this framework there are two possible explanations for labor's recent declining share. The first is that capital and labor are gross substitutes, and the second is that capital and labor are gross complements. Several papers have explained the recent decline in labor's share in income by claiming that capital has been substituted for labor. Lawrence puts forward the alternative "gross complements" explanation for the declining US labor share. He shows that despite a rise in measured capital-labor ratios, labor-augmenting technical change in the United States has been sufficiently rapid that effective capital-labor ratios have actually fallen in the sectors and industries that account for the largest portion of the declining labor share in income since 1980. In combination with estimates that corroborate the consensus in the literature that the elasticity of substitution is less than 1, these declines in the effective capital-labor ratio can account for much of the recent fall in labor's share in US income at both the aggregate and industry level. Paradoxically, these results also suggest that increased capital formation, ideally achieved through a progressive consumption tax, would raise labor's share in income.
  • Topic: Economics, Globalization, Markets, Labor Issues
  • Political Geography: United States
  • Author: Vickie Choltz, Maureen Conway
  • Publication Date: 12-2015
  • Content Type: Policy Brief
  • Institution: Aspen Institute
  • Abstract: The Future of Work for Low-Income Workers and Families is a policy brief aimed at state policy advocates and policymakers seeking to help low-income workers and their families secure healthy economic livelihoods as the nature of work evolves in the United States. Published by the Working Poor Families Project in December 2015, the brief was written by Vickie Choitz, associate director of the Economic Opportunities Program, with Maureen Conway, vice president at the Aspen Institute and executive director of the Economic Opportunities Program. This brief reviews the major forces shaping the future of work, including changes in labor and employment practices, business models, access to income and benefits, worker rights and voice, education and training, and technology. Across these areas, we are seeing disruptive change in our economy and society resulting in increasing risk and challenges for low-income workers, in particular.
  • Topic: Security, Economics, Human Welfare, Social Stratification, Employment
  • Political Geography: United States
  • Author: Annie Kim
  • Publication Date: 12-2015
  • Content Type: Policy Brief
  • Institution: Aspen Institute
  • Abstract: The 2015 Financial Security Summit, titled Reimagining Financial Security: Managing Risk and Building Wealth in an Era of Inequality, took place July 15–17 in Aspen, Colorado. The Summit agenda built on FSP's core themes of expanding retirement security and children’s savings accounts for low- and moderate-income families, and began to explore a broader vision of how to improve short- and long-term dimensions of financial wellbeing in a rapidly changing economy. Participant contributions helped shape new areas of focus for FSP going forward. This report incorporates those insights and provides an outline for future policy dialogue and directions.
  • Topic: Security, Economics, Human Welfare, Social Stratification, Employment
  • Political Geography: United States
  • Author: Emily Isaac
  • Publication Date: 03-2015
  • Content Type: Working Paper
  • Institution: Berkeley Roundtable on the International Economy
  • Abstract: In the past five years, San Francisco has become home to dozens of new online and mobile “service networking” companies that claim to be “revolutionizing” the way work gets done. Making up what has come to be known as the “platform economy,” these technology companies provide the platforms for online and mobile marketplaces in which users can buy and sell their goods and services. Together, these “platform economy” companies make up a concentrated innovative cluster in the San Francisco Bay Area, and, more specifically, San Francisco proper. One of the sharing economy’s pioneers and largest success stories, TaskRabbit Inc. allows users to outsource small jobs and tasks to local contractors—or, in company lingo, neighborhood “Taskers.” Launched out of Boston in 2008, TaskRabbit is just one of many tech startups that have left Boston for the San Francisco Bay Area. Since relocating to San Francisco, the company has received $37.5 million in venture funding, is available in 20 cities, and reportedly has 1.25 million users and over 25,000 Taskers. Indeed, TaskRabbit exemplifies the immeasurable benefits of strategically locating a firm in an industry cluster.
  • Topic: Economics, International Trade and Finance, Science and Technology, Communications, Labor Issues
  • Political Geography: United States
  • Author: Ming Zhang
  • Publication Date: 03-2015
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Due to the 2008-2009 global financial crisis, the Chinese government began to promote renminbi (RMB) internationalization in order to raise its international status, decrease reliance on the US dollar (USD) and advance domestic structural reform. RMB internationalization has achieved progress not only in cross-border trade settlement, but also in the offshore RMB markets. However, the rampant cross-border arbitrage and the relatively slow development of RMB invoicing compared to RMB settlement are becoming increasingly problematic. RMB internationalization has exerted significant influence on not only the Chinese economy but also other emerging market economies. RMB internationalization complicates domestic monetary policy, exacerbates the currency mismatch on China's international balance sheet and increases both the scale and volatility of short-term capital flows. It offers emerging economies another alternative for pricing domestic currency and investing foreign exchange reserves. Its overall impact on the international monetary system's stability will depend on how the capital account is liberalized and the consistency and transparency of Chinese monetary policy. This paper concludes with five recommendations for Chinese policy makers to promote RMB internationalization in a sustainable way that is conducive to international stability.
  • Topic: Development, Economics, Government
  • Political Geography: United States, China
  • Author: Samah Rahman, Shashanth Shetty
  • Publication Date: 07-2015
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Canada is lagging behind in research and development (R&D) commercialization, ranking fifteenth in the World Economic Forum’s 2015 Global Competitiveness Report. One of the most important contributing factors to the gap between R&D and competitiveness is that new entrepreneurs lack the monetary and informational resources to access intellectual property (IP) legal expertise. The authors of this brief argue that the Canadian government’s strategies have been ineffective, and its current policy initiatives have failed to consider the importance of disseminating IP legal knowledge directly to innovators. It is recommended that the government look to the models used by the United States and South Korea to mobilize IP legal knowledge within the entrepreneurial community. This can be achieved by establishing a national IP legal clinic at the university level — as well as increasing funding for existing programs and creating a virtual clinic — and including an IP rights application course in select university programs, targeting innovators who will require IP legal advice in the future.
  • Topic: Economics, Intellectual Property/Copyright
  • Political Geography: United States, Canada, South Korea
  • Author: Elizabeth Rosenberg, Zachary K. Goldman
  • Publication Date: 06-2015
  • Content Type: Policy Brief
  • Institution: Center for a New American Security
  • Abstract: The United States has long relied on its economic power to protect and advance its interests abroad. In an increasingly integrated international financial system, the U.S. economy and capital markets remain the largest in the world by almost every measure. This status affords the United States an important global leadership position and the ability to shape foreign policy outcomes with economic tools. The structure of the international trade and financial system, in which many significant banking and energy transactions as well as currency reserves are denominated in U.S. dollars, reinforces the central role of the United States.
  • Topic: Foreign Policy, Economics, Globalization, International Trade and Finance, Markets, Power Politics
  • Political Geography: United States
  • Author: Phillip Carter, Katherine Kidder
  • Publication Date: 01-2015
  • Content Type: Working Paper
  • Institution: Center for a New American Security
  • Abstract: Military, Veterans, and Society Program Director Phillip Carter and Research Associate Katherine Kidder examine the growth of military compensation in the post-Cold War era, from 1990 to 2015, as well as the social contract America has with its All-Volunteer Force, and the ways in which monetary compensation should be considered as part of a broader talent management strategy for the armed forces. The policy brief presents an opportunity for the nation to assess its social contract with the All-Volunteer Force and adjust (if necessary) to meet the national interest and sustain its most critical national security asset.
  • Topic: Security, Economics, Labor Issues, Military Affairs
  • Political Geography: United States
  • Author: Sinan Ülgen
  • Publication Date: 06-2014
  • Content Type: Working Paper
  • Institution: Carnegie Endowment for International Peace
  • Abstract: Many countries are interested in the Transatlantic Trade and Investment Partnership (TTIP) that Brussels and Washington are negotiating. But the United States and the European Union (EU) began talks without devising a way to involve their main trade partners. This approach, understandable given the complexity of the negotiations, could produce a bilateral agreement that is difficult to multilateralize. To influence the negotiations, third countries interested in eventually joining TTIP should pursue an agenda centered on the accession mechanism, the elimination of nontariff barriers, and dispute settlement.
  • Topic: Economics, Human Rights, International Trade and Finance
  • Political Geography: United States, Europe
  • Author: Ashley J. Tellis
  • Publication Date: 01-2014
  • Content Type: Working Paper
  • Institution: Carnegie Endowment for International Peace
  • Abstract: China is poised to become a major strategic rival to the United States. Whether or not Beijing intends to challenge Washington's primacy, its economic boom and growing national ambitions make competition inevitable. And as China rises, American power will diminish in relative terms, threatening the foundations of the U.S.-backed global order that has engendered unprecedented prosperity worldwide. To avoid this costly outcome, Washington needs a novel strategy to balance China without containing it.
  • Topic: Foreign Policy, Economics, Military Strategy
  • Political Geography: United States, China, America, Washington, Asia
  • Author: Sir Richard Jolly
  • Publication Date: 09-2014
  • Content Type: Journal Article
  • Journal: Ethics & International Affairs
  • Institution: Carnegie Council
  • Abstract: As of 2007 the world economy has been caught in the worst crisis since the 1930s. Yet after two years of only partly successful efforts to mobilize and coordinate global action of financial control and stimulus, ending with the G-20 meeting of March 2009, responsibility for corrective economic initiatives has essentially been left to individual countries, supported by the International Monetary Fund (IMF) and the European Union (EU). Moreover, such support has been usually conditional on countries following financial policies of tough austerity. The United States took some actions to stimulate its economy, but by many accounts these were insufficient. Most of Europe has not even attempted stimulus measures and has been in a period of economic stagnation, with falling real incomes among the poorest parts of the population. Although some signs of “recovery” have been heralded in 2013 and 2014, growth has mostly been measured from a lower base. There is little evidence of broad-based economic recovery, let alone improvements in the situation of the poor or even of the middle-income groups.
  • Topic: Economics, Governance
  • Political Geography: United States, Europe, Asia
  • Author: Jose J. Villamil
  • Publication Date: 01-2014
  • Content Type: Working Paper
  • Institution: Center for Strategic and International Studies
  • Abstract: Puerto Rico's economic situation circa 1950 was vastly different than today's. In the 1940s through the first half of the 60s, the island experienced a sustained boom, with annual growth rates on the order of 7 percent; the island was hailed as a model for developing countries. It instituted major reforms in government, economic and social programs, and the health sector. Puerto Rico, in coordination with the U.S. federal government, hosted thousands of observers from around the world who came to Puerto Rico to learn about its successful development model.
  • Topic: Crime, Economics, Narcotics Trafficking, Financial Crisis
  • Political Geography: United States
  • Author: Bruce W. Jentleson
  • Publication Date: 04-2014
  • Content Type: Journal Article
  • Journal: The Washington Quarterly
  • Institution: Center for Strategic and International Studies
  • Abstract: The release of the Obama administration's 2014 National Security Strategy comes amidst increasing criticism of its strategic savvy. Some are rank partisan, some Monday-morning quarterbacking. Some, though, reflect the intensifying debate over the optimal U.S. foreign policy strategy for our contemporary era.
  • Topic: Economics
  • Political Geography: United States
  • Author: Richard Downie, Jennifer G. Cooke
  • Publication Date: 02-2014
  • Content Type: Working Paper
  • Institution: Center for Strategic and International Studies
  • Abstract: Africa's changing economic landscape is prompting a shift in how U.S. policymakers view the continent. High growth rates, new technologies, and a rapidly expanding consumer class are driving greater global competition for investment and access to potential export markets, and the United States is recognizing that it will need to step up its game to remain relevant and influential in an increasingly crowded and competitive environment. This will mean placing a stronger emphasis on strengthening trade and investment ties and encouraging U.S. companies to take fuller advantage of expanding opportunities. Playing up these opportunities will not only serve long-term U.S. commercial interests in Africa but will serve U.S. development and diplomatic objectives as well. U.S. investments, done right, can have long-term development impacts in Africa, through technology and knowledge transfer, training, systems development, and partnerships. And a new, more optimistic engagement with Africa's citizens and entrepreneurs will have strong resonance with the continent's up-and-coming generation, creating links based on enduring mutual interest.
  • Topic: Diplomacy, Economics, International Trade and Finance, Markets, Foreign Direct Investment
  • Political Geography: Africa, United States
  • Author: Daniel F. Runde, Scott Miller
  • Publication Date: 02-2014
  • Content Type: Working Paper
  • Institution: Center for Strategic and International Studies
  • Abstract: The link between economic development and state security has been well established but is still too often overlooked. Former secretary of defense Robert Gates argued in support of development efforts as a form of “preventative diplomacy,” preventing the conditions where violent crises occur that may require more aggressive intervention. For example, rising food prices in Egypt have been cited as a major instigator for the protests that overthrew Hosni Mubarak. That does not mean that Mubarak could have stayed in power if only food were more affordable, but higher levels of economic development and the concurrent factors that encourage it could have made the transition more stable and less violent.
  • Topic: Development, Economics, International Cooperation, International Trade and Finance, Markets, Foreign Direct Investment
  • Political Geography: United States
  • Author: Judyth L. Twigg
  • Publication Date: 03-2014
  • Content Type: Working Paper
  • Institution: Center for Strategic and International Studies
  • Abstract: Over the last few years, Russia's relationship with the United States has traveled a swift and seemingly deliberate arc from partner to pariah. The current turmoil in Ukraine and near-certain resulting isolation of Russia culminate several years' worth of deteriorating ties. The Edward Snowden mess, disagreements over Syria and Iran, dismay over the eroding human rights environment in Russia, and now Russian annexation of Crimea have led the previously heralded "reset" to an unceremonious end. What are the implications of these and related developments for U.S.-Russia collaboration in medicine and public health? Should avenues of partnership remain open, even in such a frosty political context? Should the international community support Russia's health sector when ample resources exist within Russia itself? Is it even possible anymore?
  • Topic: Development, Diplomacy, Economics, Health, Human Rights, Human Welfare, Bilateral Relations
  • Political Geography: Russia, United States, North America
  • Author: Rasika Gynedi
  • Publication Date: 04-2014
  • Content Type: Working Paper
  • Institution: Center for Strategic and International Studies
  • Abstract: Asset quality in India's banks has deteriorated sharply and if not tackled promptly poses a systemic risk to the banking system—and by extension the Indian economy. A high proportion of nonperforming assets (NPAs) steadily erodes the capital base of a bank, impinging on the ability of banks to raise fresh capital and continue lending for investment activities. Indeed, the spillover impact from banking crises to the real economy is all too familiar, evinced by the subprime mortgage crisis in the United States. However, despite this risk, the issue is not garnering sufficient attention outside the banking industry.
  • Topic: Economics, International Trade and Finance
  • Political Geography: United States, South Asia, India
  • Author: Gerald F. Hyman
  • Publication Date: 04-2014
  • Content Type: Working Paper
  • Institution: Center for Strategic and International Studies
  • Abstract: In his 2013 State of the Union speech, President Barack Obama announced that by the end of 2014 "our war in Afghanistan will be over" and, a month earlier, that "by the end of next year, 2014, the transition will be complete—Afghans will have full responsibility for their security, and this war will come to a responsible end." The military transition, successful or not, is in full swing. Of course the war will not come to an end in 2014, responsible or otherwise. Even if the military drawdown goes as planned, "America's commitment to a unified and sovereign Afghanistan will endure, but the nature of our commitment will change," the president said. On the military side, our enduring commitment will focus on training, equipping, and funding the Afghan National Security Forces (ANSF) and "some counterterrorism efforts that allow us to pursue remnants of al Qaeda and their affiliates," presumably the Taliban. As the United States draws down, so too will the remaining coalition countries of the International Security Assistance Force (ISAF) under North Atlantic Treaty Organization (NATO) command.
  • Topic: Security, Development, Economics, Governance
  • Political Geography: Afghanistan, United States, South Asia
  • Author: Robert A. Pollard, Gregory N. Hicks
  • Publication Date: 07-2014
  • Content Type: Working Paper
  • Institution: Center for Strategic and International Studies
  • Abstract: At a time when economics has become a more central feature of international relations, the United States needs to raise its game in international economic policy to sustain global leadership. Yet the U.S. government is not well organized at present to meet this challenge.
  • Topic: Foreign Policy, Diplomacy, Economics, International Trade and Finance, Reform
  • Political Geography: United States
  • Author: Anthony H. Cordesman
  • Publication Date: 08-2014
  • Content Type: Working Paper
  • Institution: Center for Strategic and International Studies
  • Abstract: It is unclear that the United States has any current assessments and strategy to deal with either these governance or economic issues. If it does, it has provided no transparency as to what these plans are, and has failed to develop any effective public measures of the effectiveness of its civil aid programs after more than 10 years of effort, and in spite of the fact that the civil dimension of counterinsurgency efforts is at least as important as the military efforts. It is also important to note that World Bank and UN reporting show the same lack of progress in governance, economics, and human development in Pakistan as in Afghanistan.
  • Topic: Economics, Politics, World Bank
  • Political Geography: Pakistan, Afghanistan, United States, India
  • Author: Sadika Hameed
  • Publication Date: 09-2014
  • Content Type: Working Paper
  • Institution: Center for Strategic and International Studies
  • Abstract: Relations between the United States and Pakistan have begun to improve after several years of heightened tensions. Yet many challenges remain. Among them is how to improve Pakistan's economy. Its economic crisis is one of the main sources of its internal tensions, but multiple opportunities exist to improve its economic performance. The policy debate in the United States, however, is still dominated by a focus on terrorism and extremism. While Pakistan's stability is a natural concern for the United States, focusing primarily on security issues limits the options for improving stability.
  • Topic: International Relations, Security, Economics
  • Political Geography: Pakistan, United States
  • 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: Isobel Coleman
  • Publication Date: 08-2014
  • Content Type: Policy Brief
  • Institution: Council on Foreign Relations
  • Abstract: Fossil fuel subsidies are a global scourge. They distort markets, strain government budgets, encourage overconsumption, foster corruption, and harm the environment while doing little to remedy inequality or stimulate development. Yet despite compelling arguments for reform, fossil fuel subsidies remain deeply entrenched. Citizens have yet to be convinced that fuel subsidies can and should be replaced with more efficient poverty alleviation programs. As a result, governments refrain from phasing out fuel subsidies for fear of triggering a public backlash, and even civil unrest. To bolster the prospects for subsidy reform, the United States should support the creation of a new public-private partnership within the World Bank, the Global Subsidy Elimination Campaign (GSEC), to work with governments to execute country-specific communication programs that would build the case for fossil fuel subsidy reform among citizens. The GSEC would start with pilot programs in select countries, and on the basis of these efforts, expand its work to other countries interested in fuel subsidy reform. If the GSEC help s generate just a 5 percent reduction in the more than half a trillion dollars that governments now spend on fossil fuel subsidies, it would free up billions of dollars for more effective anti-poverty initiatives.
  • Topic: Economics, International Cooperation, International Political Economy, International Trade and Finance, Natural Resources
  • Political Geography: United States
  • Author: Shannon K. O'Neil
  • Publication Date: 10-2014
  • Content Type: Working Paper
  • Institution: Council on Foreign Relations
  • Abstract: North America was once called the New World. The people, their ideas, and the resources of the continent shaped the histories of the Old World—East and West. Today, North America is home to almost five hundred million people living in three vibrant democracies. If the three North American countries deepen their integration and cooperation, they have the potential to again shape world affairs for gen-erations to come.
  • Topic: Security, Economics, Energy Policy, International Trade and Finance
  • Political Geography: United States, America
  • Author: Francesco Duina
  • Publication Date: 02-2014
  • Content Type: Working Paper
  • Institution: Collaborative Research Center (SFB) 700
  • Abstract: While NAFTA itself does not contain any provisions for governance transfer, its two side agreements (NAALC, NAAEC) prescribe standards in the realm of human rights (labor, environment), the rule of law, and good governance and create a number of instruments for their (indirect) promotion. Through technical assistance, fora for dialogue and exchange, monitoring, and complaints procedures that can result in monetary sanctions, the side agreements aim at promoting the effective enforcement of national law rather than regional standards. These provisions reflect the same concerns in the United States and Canada that lead to the conclusion of the two side agreements in the first place: creating conditions for fair competition in light of Mexico's failure to effectively enforce national laws, resulting in de facto lower labor and environmental standards and thus lower costs compared to the northern neighbours. Beyond formal governance transfer, NAFTA has had an impact on domestic governance reforms in Mexico since the early 1990s as it was used as leverage in both international negotiations and Mexican domestic politics.
  • Topic: Economics, International Trade and Finance, Treaties and Agreements
  • Political Geography: United States, America, Canada, North America, Mexico
  • Author: Özge Zi̇hni̇oğlu
  • Publication Date: 10-2014
  • Content Type: Journal Article
  • Journal: Insight Turkey
  • Institution: SETA Foundation for Political, Economic and Social Research
  • Abstract: The EU has been successfully exercising its conditionality as a key aspect of its enlargement strategy since the 1990s. However, with no accession prospect in sight and the perceived lack of credibility and consistency of the EU's conditionality, Turkey's already unequal partnership with Europe has been thrown further off balance. This article argues that this is not the case, as the EU retains its leverage over Turkey, even in the absence of factors that are known as central to the successful implementation of the EU's conditionality. This article suggests two main reasons. First, despite the rhetoric on the interdependence of Turkish and the EU economy, this interdependence is not on equal footing and the Turkish economy is heavily dependent on the EU. Second, there is rising concern in Turkey over free trade talks between the EU and the United States, with its potential impact on the Turkish economy.
  • Topic: Foreign Policy, Economics
  • Political Geography: United States, Europe, Turkey
  • Author: Nona Mikhelidze
  • Publication Date: 02-2014
  • Content Type: Working Paper
  • Institution: Istituto Affari Internazionali
  • Abstract: The rapid succession of events in Ukraine is impressive but the story is far from over: the state faces an economic crisis and the risk of default; pro-Russian separatism in Crimea threatens the territorial integrity of the country. How should the new government deal with these old challenges and what role could be envisaged for the EU and the US to assist Ukraine in this difficult moment of its statehood? The main objective of the Ukrainian government should be to stand united to overcome the monumental economic, social and political crisis. The EU and the US should encourage coalition-building initiatives to achieve this end. As for the separatist claims, Kiev needs to be more proactive in accommodating minority rights, while the EU should boost people-to-people contacts and promote cooperation between western and eastern Ukrainian civil society. In order to encourage long-lasting political and social reforms, the EU should begin to talk about Ukraine's membership perspective. On the international level, the West should acknowledge that Russia is part of the problem, but also an indispensable part of the solution. Securing Ukraine's integration within the EU, but maintaining the neutrality of its security posture may be a possible way out.
  • Topic: Conflict Resolution, Political Violence, Economics, Sovereignty
  • Political Geography: United States, Ukraine
  • Author: Daniel S. Hamilton
  • Publication Date: 03-2014
  • Content Type: Journal Article
  • Journal: The International Spectator
  • Institution: Istituto Affari Internazionali
  • Abstract: The United States is currently negotiating two massive regional economic agreements, one with 11 Asian and Pacific Rim countries and the other with the 28-member European Union. The Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP) herald a substantial shift in US foreign economic policy as Washington turns its focus from the stalemated Doha Round of multilateral trade negotiations and scattered bilateral trade agreements to 'mega-regional' trade diplomacy. As the only party to both negotiations, Washington seeks to leverage issues in one to advance its interests in the other, while reinvigorating US global leadership.
  • Topic: Diplomacy, Economics
  • Political Geography: United States, Europe, Washington, Asia
  • Author: Kayhan Barzegar
  • Publication Date: 09-2014
  • Content Type: Journal Article
  • Journal: The International Spectator
  • Institution: Istituto Affari Internazionali
  • Abstract: The nuclear negotiations between Iran and EU3+3 have provided the grounds for establishing direct talks between Iran and the United States, subsequently creating a positive prospect for solving the Iranian nuclear standoff after a decade of negotiations. The effect of economic sanctions and political change in Iran have made it possible to bring an important foreign policy issue into domestic politics discourses. The fact that the nuclear negotiations put Iran in a position comparable to the other world powers strengthened a sense of movement towards a win-win situation among Iranian political forces. All of this created a relative political consensus among Iran's ruling elites regarding the need to initiate direct talks with the United States in order to solve the Iranian nuclear standoff. The nuclear programme is also linked with the regional equation, the result of which has been the emergence of a new kind pragmatism in the conduct of Iranian regional policy in hope of revising Iran's place in US Middle East policy.
  • Topic: Economics, Sanctions
  • Political Geography: United States, Iran, Middle East
  • Author: Nora Lustig, Timothy Smeeding, Sean Higgins, Whitney Ruble
  • Publication Date: 03-2014
  • Content Type: Working Paper
  • Institution: Center for Global Development
  • Abstract: We perform the first comprehensive fiscal incidence analyses in Brazil and the US, including direct cash and food transfers, targeted housing and heating subsidies, public spending on education and health, and personal income, payroll, corporate income, property, and expenditure taxes. In both countries, primary spending is close to 40 percent of GDP. The US achieves higher redistribution through direct taxes and transfers, primarily due to underutilization of the personal income tax in Brazil and the fact that Brazil's highly progressive cash and food transfer programs are small while larger transfer programs are less progressive. However, when health and non-tertiary education spending are added to income using the government cost approach, the two countries achieve similar levels of redistribution. This result may be a reflection of better-off households in Brazil opting out of public services due to quality concerns rather than a result of government effort to make spending more equitable.
  • Topic: Economics, Political Economy, Monetary Policy, Food
  • Political Geography: United States, Brazil
  • Author: Michael Clemens
  • Publication Date: 03-2014
  • Content Type: Working Paper
  • Institution: Center for Global Development
  • Abstract: The most basic economic theory suggests that rising incomes in developing countries will deter emigration from those countries, an idea that captivates policymakers in international aid and trade diplomacy. A lengthy literature and recent data suggest something quite different: that over the course of a "mobility transition", emigration generally rises with economic development until countries reach upper-middle income, and only thereafter falls. This note quantifies the shape of the mobility transition in every decade since 1960. It then briefly surveys 45 years of research, which has yielded six classes of theory to explain the mobility transition and numerous tests of its existence and characteristics in both macro- and micro-level data. The note concludes by suggesting five questions that require further study.
  • Topic: Economics, Migration, Social Stratification, Social Movement, Developing World
  • Political Geography: United States, Canada, Mexico
  • Author: William Savedoff, Victoria Fan
  • Publication Date: 03-2014
  • Content Type: Working Paper
  • Institution: Center for Global Development
  • Abstract: Almost every country exhibits two important health financing trends: health spending per person rises and the share of out-of-pocket spending on health services declines. We describe these trends as a "health financing transition" to provide a conceptual framework for understanding health markets and public policy. Using data over 1995-2009 from 126 countries, we examine the various explanations for changes in health spending and its composition with regressions in levels and first differences. We estimate that the income elasticity of health spending is about 0.7, consistent with recent comparable studies. Our analysis also shows a significant trend in health spending - rising about 1 percent annually - which is associated with a combination of changing technology and medical practices, cost pressures and institutions that finance and manage healthcare. The out-of-pocket share of total health spending is not related to income, but is influenced by a country's capacity to raise general revenues. These results support the existence of a health financing transition and characterize how public policy influences these trends.
  • Topic: Development, Economics, Health, Governance
  • Political Geography: United States