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  • Author: Roland Rajah
  • Publication Date: 08-2020
  • Content Type: Commentary and Analysis
  • Institution: Lowy Institute for International Policy
  • Abstract: Indonesia has much economic potential but the trade-off between growth and stability continues to bind its growth ambitions. Indonesian economic policy continues to prioritise stability over growth but the adequacy of economic growth has become the bigger issue. President Joko Widodo’s commendable pro-growth efforts have so far only stabilised Indonesia’s trajectory rather than boost it. Doing better will require reforms to be calibrated to make the trade-off between growth and stability less binding while enhancing productivity.
  • Topic: Government, International Trade and Finance, Economy, Economic growth
  • Political Geography: Indonesia, Asia-Pacific
  • Author: Defne Günay
  • Publication Date: 02-2020
  • Content Type: Working Paper
  • Institution: Department of International Relations, Abant Izzet Baysal University, Turkey
  • Abstract: According to the International Panel on Climate Change, climate change will affect the rivers leading to the Mediterranean, desertification will increase, rise in sea level will affect coastal settlements, and crop productivity will decrease in the region. Therefore, climate change is an important issue for the Mediterranean region. The European Union (EU) is a frontrunner in climate change policy, committing itself to a decarbonized economy by 2050. The EU also promotes climate action in the world through its climate diplomacy. Such EU action in promoting the norm of climate action can be explained with reference to EU’s economic interests. In this paper, I analyse whether the EU serves its economic interests by promoting climate action in its neighbourhood policy towards Egypt. Based on documentary analysis, this paper argues that European companies benefitted from the market-based solutions adopted by the Kyoto Protocol in Egypt, exported renewable energy technologies to Egypt and face a level-playing field in terms of regulations promoted for them by the EU in Egypt.
  • Topic: Climate Change, Environment, European Union, Regulation, Economy, Renewable Energy
  • Political Geography: Africa, Europe, Egypt, Mediterranean
  • Author: Shamindra Nath Roy, Partha Mukhopadhyay
  • Publication Date: 01-2020
  • Content Type: Working Paper
  • Institution: Centre for Policy Research, India
  • Abstract: India is one of the lowest globally in terms of female labour force participation (FLFP), ranking only better than Pakistan in South Asia. While the decline in FLFP in rural areas is starkly visible, the urban FLFP has been consistently low since the 1980s despite higher economic growth and increasing level of education among females. The economic cost of such low FLFP (16.8%) is huge and if, for instance, it could be raised to the level of FLFP in China (61.5%), it has the potential to raise India’s GDP up to 27%. This paper attempts to investigate the structural deficiencies behind this consistently low urban FLFP through a variety of perspectives, ranging from measuring the complexity of women’s work to the implications of caste, location and family structure. It finds factors like presence of female-friendly industries, provision of regular salaried jobs and policies that cater to women’s needs to work near home like availability of part-time work, can improve the situation, though prejudices arising from patriarchy require to be addressed to make these measures truly transformative and not palliative.
  • Topic: Education, Gender Issues, Labor Issues, Women, Inequality, Economy
  • Political Geography: South Asia, India
  • Author: Meghna Paul, Avani Kapur
  • Publication Date: 02-2020
  • Content Type: Policy Brief
  • Institution: Centre for Policy Research, India
  • Abstract: The Poshan Abhiyaan earlier known as the National Nutrition Mission is Government of India’s (GoI’s) flagship scheme that aims to holistically address the prevalence of malnutrition in India through the use of technology, convergence, behavioural change, training, and capacity building. This brief uses government data to report on the following: Trends in GoI allocations, releases and expenditures; Trends in expenditure of selected individual components of Poshan Abhiyaan; Trends in participation by gender and activities conducted under the Mission.
  • Topic: Gender Issues, Budget, Food Security, Economy, Capacity
  • Political Geography: South Asia, India, Asia
  • Publication Date: 07-2019
  • Content Type: Special Report
  • Institution: Georgetown Journal of International Affairs
  • Abstract: “Georgians have always had a grievance complex, because Turks or Persians have always suppressed them. The lack of independence, the inability to have one’s own state — all this instilled in Georgians a sense of deprivation. Now they are hot-tempered, light up for any reason. Now flashed.” This is what Russia’s Liberal Democratic Party leader tweeted after riot police in Tbilisi fired rubber bullets against thousands of nonviolent protesters outside of the Georgian Parliament on June 20, 2019. On that day, Georgian officials welcomed into the Georgian Parliament a Russian delegation, headed by member of the State Duma Sergey Gavrilov, within the framework of the Interparliamentary Assembly on Orthodoxy. Outside of the Parliament, civilians staged a snap protest against the ongoing Russian occupation of 20 percent of Georgian territory. Days before his scandalous appearance in the chair of the Speaker of the Georgian Parliament, Mr. Gavrilov gave an interview to the Georgian television network Rustavi 2 and stated, “We have recognized the independence of Ossetia and Abkhazia [two breakaway Georgian regions where Russian military forces are stationed] and we have to build our relations on new reality.” Soon after, Georgians saw him chairing an international assembly in the Georgian Parliament in Russian, an occurrence which was deeply humiliating for members of the Georgian public, many of whom lost friends and family members in the 2008 Russo-Georgian war.
  • Topic: Bilateral Relations, Territorial Disputes, Economy, Conflict
  • Political Geography: Russia, Eurasia, Georgia
  • Author: Kaha Baindurashvili
  • Publication Date: 07-2019
  • Content Type: Special Report
  • Institution: Georgetown Journal of International Affairs
  • Abstract: Russian sanctions might not be that impressive, but they are extremely dangerous for Georgian unity. Russia has been destabilizing that unity since Georgia’s independence in 1991, first through its proxies— Abkhaz and Ossetian separatists and militias— and then later more openly from 2004 onwards. The Kremlin’s political aims behind the sanctions are obvious. Russian officials do not have high expectations for their numerical impact, but the propaganda accompanying them could have a more powerful impact. The Ivanishvili victory in 2012 and promised political and media tolerance has opened doors to Russian propaganda too; since then, banned Russian media outlets have started freely broadcasting in Georgia, while the anti-Kremlin, Georgian-funded, Russian-language television network PIK was shut down.
  • Topic: Bilateral Relations, Sanctions, Economy, Trade
  • Political Geography: Russia, Eurasia, Georgia
  • Author: Monica Arruda De Almeida
  • Publication Date: 05-2019
  • Content Type: Special Report
  • Institution: Georgetown Journal of International Affairs
  • Abstract: Brazil’s income inequality is among the world’s worst. The country’s unemployment rate is currently 13 percent, compared to 4.6 percent in 2012, and the number of Brazilians in poverty or extreme poverty is now close to 30 percent, a far cry from 2014 when that number was less than 10 percent of the population. Brazil has one of the highest tax rates in Latin America—with tax revenue equal to 33 percent of GDP, against the regional average of 20 percent—but it is also notorious for its poor performance with respect to the ease of paying taxes and opening a business: the country ranks 184 and 140, respectively, out of 190 countries in the World Bank’s 2019 Doing Business Report. It is surprising, therefore, that Jair Bolsonaro, a conservative politician from the Social Liberal Party (PSL), was elected to the country’s highest office without meaningfully addressing his administration’s plans to solve the nation’s social injustices and other economic issues. Instead, Bolsonaro campaigned mostly on strengthening public security and fighting corruption, the two areas on which the former army captain built his reputation during his almost thirty years as a congressman. During the campaign, Bolsonaro recruited Paulo Guedes, a Chicago School-trained economist to be his Minister of the Economy. Guedes was tasked with building a “dream team” of experts that would design a plan to further liberalize the economy and turn Brazil into a much friendlier place to conduct business.
  • Topic: Corruption, Government, Poverty, Economy, Social Policy, Economic Inequality
  • Political Geography: Brazil, South America
  • Author: David Orsmond
  • Publication Date: 12-2019
  • Content Type: Commentary and Analysis
  • Institution: Lowy Institute for International Policy
  • Abstract: China’s economic growth has fallen to its slowest rate since 1990, and this deceleration looks set to continue unless China implements the kinds of deep reforms behind the successful economic transitions of Japan and Korea. China’s economic growth has fallen to its slowest rate since 1990, and this deceleration looks set to continue. Key factors include weakening demographics, inefficient investment, maturing export markets and declining productivity growth rather than the current trade dispute with the United States. To reverse that trend, China will need a wide-ranging policy approach that mimics the policies implemented by Japan and Korea at a similar economic stage. While there are considerable political and economic obstacles to such reforms, if it manages to continue its rapid catch-up to advanced economy incomes the potential returns for both China and the world are significant.
  • Topic: Reform, Economy, Economic growth, Trade Wars, Trade
  • Political Geography: China, Asia, Australia, United States of America
  • Author: Bobo Lo
  • Publication Date: 08-2019
  • Content Type: Commentary and Analysis
  • Institution: Lowy Institute for International Policy
  • Abstract: The rise of Asia is the central challenge of Vladimir Putin’s foreign policy, calling into question long-standing assumptions about Russia’s place in the world. Moscow is now more committed to engagement with the Asia-Pacific than it has ever been. This reflects belated recognition of the region’s critical importance in global affairs. Russia’s ambition to become a major player in the Asia-Pacific faces considerable hurdles. Overcoming them will depend on larger changes in its foreign policy mindset — an uncertain prospect at best.
  • Topic: Foreign Policy, Geopolitics, Economy, Vladimir Putin
  • Political Geography: Russia, Asia-Pacific
  • Author: Ricardo Hausmann, Patricio Goldstein, Ana Grisanti, Tim O'Brien, Jorge Tapia, Miguel Ajgel Santos
  • Publication Date: 12-2019
  • Content Type: Working Paper
  • Institution: The John F. Kennedy School of Government at Harvard University
  • Abstract: Jordan faces a number of pressing economic challenges: low growth, high unemployment, rising debt levels, and continued vulnerability to regional shocks. After a decade of fast economic growth, the economy decelerated with the Global Financial Crisis of 2008-09. From then onwards, various external shocks have thrown its economy out of balance and prolonged the slowdown for over a decade now. Conflicts in neighboring countries have led to reduced demand from key export markets and cut off important trade routes. Foreign direct investment, which averaged 12.7% of gross domestic product (GDP) between 2003-2009, fell to 5.1% of GDP over the 2010-2017. Regional conflicts have interrupted the supply of gas from Egypt – forcing Jordan to import oil at a time of record prices, had a negative impact on tourism, and also provoked a massive influx of migrants and refugees. Failure to cope with 50.4% population growth between led to nine consecutive years (2008-2017) of negative growth rates in GDP per capita, resulting in a cumulative loss of 14.0% over the past decade (2009-2018). Debt to GDP ratios, which were at 55% by the end of 2009, have skyrocketed to 94%. Over the previous five years Jordan has undertaken a significant process of fiscal consolidation. The resulting reduction in fiscal impulse is among the largest registered in the aftermath of the Financial Crises, third only to Greece and Jamaica, and above Portugal and Spain. Higher taxes, lower subsidies, and sharp reductions in public investment have in turn furthered the recession. Within a context of lower aggregate demand, more consolidation is needed to bring debt-to-GDP ratios back to normal. The only way to break that vicious cycle and restart inclusive growth is by leveraging on foreign markets, developing new exports and attracting investments aimed at increasing competitiveness and strengthening the external sector. The theory of economic complexity provides a solid base to identify opportunities with high potential for export diversification. It allows to identify the existing set of knowhow, skills and capacities as signaled by the products and services that Jordan is able to make, and to define existing and latent areas of comparative advantage that can be developed by redeploying them. Service sectors have been growing in importance within the Jordanian economy and will surely play an important role in export diversification. In order to account for that, we have developed an adjusted framework that allows to identify the most attractive export sectors including services. Based on that adjusted framework, this report identifies export themes with a high potential to drive growth in Jordan while supporting increasing wage levels and delivering positive spillovers to the non-tradable economy. The general goal is to provide a roadmap with key elements of a strategy for Jordan to return to a high economic growth path that is consistent with its emerging comparative advantages.
  • Topic: Government, International Trade and Finance, Finance, Economy
  • Political Geography: Middle East, Jordan