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Begin New Search Topic Markets Content Type Journal Article Publication Year within 10 Years

1. The Army and Sea Control: Reconsidering Maritime Strategy in the Twenty-first Century

Author:
Nathan A. Jennings
Publication Date:
09-2022
Content Type:
Journal Article
Journal:
Journal of Advanced Military Studies
Institution:
Marine Corps University Press, National Defense University
Abstract:
This article argues that the U.S. Army, rather than the traditional maritime Services, has an emergent opportunity to increase relevancy by exercising sea control to guarantee American access to global markets in competitive spaces in the twenty-first century. In a strategic environment where adversaries are developing sophisticated defenses in-depth to negate American power projection, the institution has a unique capability to create forward positions of advantage with reimagined operational fires commands at scale—as the nucleus of Joint, interagency, and multinational teams—to protect economic prosperity and preserve coalition unity in Central Europe and Southeast Asia in particular, and across the world in general. Advocating for a shift in operational approach that subordinates tactical maneuver in support of operational fires, this article differs from previous scholarship by asserting that the Army should fully embrace sea control, rather than merely providing support to the U.S. Navy and U.S. Marine Corps, to better enable the Joint execution of American and coalition strategies in contested regions.
Topic:
Markets, Navy, Maritime, Oceans and Seas, Trade, Seapower, Army, and Marine Corps
Political Geography:
Russia, China, and United States of America

2. Markets, Governments, and Crises in the Past and Future of the EU

Author:
Giuseppe Bertola
Publication Date:
06-2022
Content Type:
Journal Article
Journal:
Turkish Policy Quarterly (TPQ)
Institution:
Turkish Policy Quarterly (TPQ)
Abstract:
The common-market project, that after World War II aimed to prevent future wars among European Nations, evolved through crises into a complicated and unstable set of European Union policies and institutions. The COVID-19 pandemic and the war in Ukraine reinforced coordination and added common debt issuance to the supranational policy toolkit. But the NextGenEU program relies heavily on government subsidies rather than on market incentives, and Russia’s invasion of Ukraine shows that economic integration can at most move the boundaries of war to those of the integrated economic area, rather than of Nations. These developments weaken the crucial role of integrated markets as the principal instrument for growth, cohesion, stability, and peace in Europe.
Topic:
Government, Markets, Regional Cooperation, European Union, and Strategic Stability
Political Geography:
Europe

3. The Soft Touch of International Financial Regulation: Status, Flaws and Future

Author:
Niall O'Shaughnessy
Publication Date:
06-2021
Content Type:
Journal Article
Journal:
The Goettingen Journal of International Law
Institution:
The Goettingen Journal of International Law
Abstract:
The 2008 global financial crisis focused attention on the relationship between the behaviour of international financial institutions and the rules they follow. Many banks in the US and Europe failed, in part, due to their inability to absorb the fallout of the US mortgage market collapse. If international financial institutions could not protect themselves from the cycles of the market, how come regulators were unable to do so either? The most relevant instrument of international financial regulation for understanding the 2008 crisis is the Basel Accords, the rules that specify how much capital a bank should always hold in reserve. However, these rules are ‘soft law’ and so, non-binding. It is a myth of course that soft law is the only way to regulate international finance, as many scholars argue. Despite numerous rounds of reform, the Basel Accords have always been inadequate. The purpose of this paper is to account for the flaws of the Basel Accords and the role that soft law plays in creating those flaws. This paper also analyses the competing theories behind the rise of soft law within financial regulation and the ‘political economy’ explanation is endorsed. The final section of the paper discusses the future of financial regulation and soft law, as well as highlighting innovations from outside the hard/soft law dichotomy and outside the Global North. This paper concludes by stating that the theory behind soft law does not play out in practice within finance and that it remains in place because it suits the interests of large institutions and powerful states. At the same time, a return to Bretton Woods or a new World Financial Organization is problematic and, as such, we must look beyond the hard/soft law debate and embrace the work of the Global South and East.
Topic:
Markets, Financial Crisis, Regulation, Capital, and Banking
Political Geography:
Global Focus

4. The Economic Mentality of Nations

Author:
Pál Czeglédi, Brad Lips, and Carlos Newland
Publication Date:
10-2021
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
Two hundred forty‐​five years after the publication of Adam Smith’s An Inquiry into the Nature and Causes of the Wealth of Nations, economists continue to debate the causes of disparities in wealth among the countries of the world. Some scholars focus on the role of climate, natural resources, proximity to markets, or access to technology. Others study human capital, capital accumulation, the use of comparative advantages and economies of scale, and institutional and legal frameworks. We believe that another factor must be considered as well: the economic attitudes and causal beliefs (henceforth, “mentality”) of the population. While a growing body of research shows a clear association between economic growth and the institutions of economic freedom, those institutions can be quite fragile if the population does not have a clear understanding of what makes a country prosperous. To measure popular attitudes toward economic values, we have created the Global Index of Economic Mentality (GIEM).
Topic:
Economics, Markets, Capitalism, Youth, and Free Market
Political Geography:
Global Focus

5. GameStop and the Rise of Retail Trading

Author:
Jennifer J. Schulp
Publication Date:
10-2021
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
In January 2021, a curious event in the stock market caught the attention of the media, regulators, and the public. A well‐​known struggling company dominated the headlines, not for its business model, but for the meteoric rise of its stock price. GameStop Corp. started the year trading around $19.00 a share, a pretty robust share price for a company that had been trading below $5.00 as recently as August 2020. Yet, by the end of January, GameStop’s shares were trading at over $300, at one point hitting a high of $483. GameStop’s stock price has receded from those meteoric highs, but, as of late May, it continues to trade between $160 and $180 a share.
Topic:
Markets, Economy, Investment, Stock Markets, and Equity
Political Geography:
Global Focus

6. El problema del coste de la defensa

Author:
Carlos Marti Sempere
Publication Date:
11-2021
Content Type:
Journal Article
Journal:
Journal on International Security Studies (RESI)
Institution:
International Security Studies Group (GESI) at the University of Granada
Abstract:
Este artículo aborda la cuestión del coste asociado ala defensa, es decir, de los recursos que la sociedad debe dedicar a proporcionar seguridad a sus miembros. En él se examina los métodos y formas de establecer y distribuir estos recursos para obtener un conjunto apropiado de capacidades militares que soporten la percepción de seguridad del ciudadano, resolviendo así el problema de la defensa y aumentando así el bienestar económico y social. Se trata de una cuestión antigua que hasido objeto de una preocupación constante del ser humano.La novedad más importante de este artículo es examina resta cuestión desde la perspectiva de la racionalidad limitada del ser humano, dela información imperfecta de la que dispone, de la existencia de preferencias sin una clara racionalidad económica y de instituciones y normas deeficacia limitada. Todo ello conducea asignaciones de recursos para la defensa que pueden encontrarse lejos delos valores que ofrecen un bienestar general mayor.
Topic:
Defense Policy, Economics, Markets, Welfare, and Efficiency
Political Geography:
Global Focus

7. How Misaligned Incentives Hinder Foster Care Adoption

Author:
Isabella M. Pesavento
Publication Date:
01-2021
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
Adoption, particularly adoption out of foster care, has not been well studied within the field of economics. Researchers may avoid this topic because the adoption market greatly deviates from a typical market, and the system and data collection are highly fragmented, with relatively little federal coordination. Rubin et al. (2007) and Thornberry et al. (1999) show that instability in foster care placements produces negative welfare outcomes, and Hansen (2006), Barth et al. (2006), and Zill (2011) demonstrate that adoption out of foster care is socially and financially beneficial. Yet, children waiting to be adopted out of foster care are in excess supply, which has been exacerbated in recent years. I hypothesize that this is, in part, due to misaligned incentives of government officials and the contracted foster care agencies. I show that earnings are prioritized over ensuring permanent child placement, which hinders the potential for adoption, and government oversight fails to correct such iniquities because of career interests.
Topic:
Economics, Government, Markets, Children, Incentives, Foster Care, and Adoption
Political Geography:
North America and United States of America

8. Economic Well‐​Being under Plan versus Market: The Case of Estonia and Finland

Author:
Anna Bocharnikova
Publication Date:
01-2021
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
This article investigates the dynamics of individual economic well‐​being in Estonia and Finland over three periods: (1) 1923–1938, when both countries were similarly situated; (2) 1960–1988, during which Estonia was under Soviet control; and (3) 1992–2018, after Estonian independence. Economic well‐​being is calculated using the purchasing power of wages in terms of the affordability of a minimal food basket. The results show that, in 1938, the purchasing power of wages in Estonia was 4 percent lower than in Finland; in 1988, it was 42 percent lower; and, by 2018, the gap had fallen to 17 percent. Consequently, as measured by the purchasing power of wages, well‐​being in Estonia and Finland was similar before the Soviet occupation, widely diverged during Soviet rule, and converged after Estonian independence, with the transition from plan to market.
Topic:
Economics, Markets, Politics, History, and Culture
Political Geography:
Europe, Finland, and Estonia

9. U.S. Trade Policy toward China: Learning the Right Lessons

Author:
Scott Lincicome
Publication Date:
01-2021
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
Labor market and cultural disruptions in the United States are real and important, as is China’s current and unfortunate turn toward illiberalism and empire. But pretending today that there was a better trade policy choice in 2000—when Congress granted China “permanent normal trade relations” (PNTR) status and paved the way for broader engagement—is misguided. It assumes too much, ignores too much, and demands too much. Worse, it could lead to truly bad governance: increasing U.S. protectionism; forgiving the real and important failures of our policymakers, CEOs, and unions over the last two decades; and preventing a political consensus for real policy solutions. Indeed, that is happening now.
Topic:
International Relations, Economics, Markets, Bilateral Relations, Trade, and Protectionism
Political Geography:
China, Asia, North America, and United States of America

10. Financial Development in Hong Kong and China: A Hayekian Perspective

Author:
Kam Hon Chu
Publication Date:
01-2021
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
In addition to foreign investment absorption, Hong Kong plays a pioneering role in the internationalization of the renminbi (RMB). Despite the lack of comprehensive statistics on the volume of offshore RMB transactions, Hong Kong is for sure one of the largest, if not the largest, global centers for offshore RMB businesses. According to the Triennial Central Bank Survey (BIS 2019), for instance, Hong Kong was the largest global offshore RMB foreign exchange market, with an average daily turnover of US$107.6 billion as of April 2019, considerably higher than the US$56.7 billion for London and the US$42.6 billion for Singapore.
Topic:
Economics, Markets, Investment, and Financial Development
Political Geography:
China, Asia, and Hong Kong