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11001. United States -- Economic Slowdown?

Author:
Oxford Analytica
Publication Date:
07-1999
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
In recent weeks, economic data has produced conflicting signals about the strength of domestic demand within the US economy. A majority within the Federal Open Market Committee (FOMC) believes that growth will decelerate and that only a small tightening of monetary policy will be necessary in the short term. However, the Federal Reserve has consistently underestimated domestic demand, and there are signs that the economy is still buoyant. Moreover, with improving economic prospects in Europe and Asia, the external forces encouraging lower US interest rates are likely to be reversed. The combination of these factors could put pressure on the Fed to tighten further.
Topic:
Economics
Political Geography:
United States, Europe, and Asia

11002. Kosovo—New Dawn for an Ethical Foreign Policy?

Author:
Oxford Analytica
Publication Date:
07-1999
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
The success of NATO in forcing the Serbian army to quit Kosovo has led some western leaders, notably the UK Prime Minister Tony Blair, to espouse a new 'moral' emphasis in foreign policy. While a complete abandonment of self–interest for ethics can be dismissed, there are important new factors affecting the conduct of international affairs, which vary in regional applicability.
Topic:
Foreign Policy, NATO, and International Affairs
Political Geography:
Eastern Europe, Kosovo, and Serbia

11003. Iran — Protest Aftermath

Author:
Oxford Analytica
Publication Date:
07-1999
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
Despite last week's crackdown on pro-reform demonstrations, there is still considerable momentum behind President Mohamed Khatami's political liberalisation drive. While the democratisation movement may have suffered a short-term setback and is likely to encounter further opposition from right-wing clerics, Khatami's reform coalition remains in place and is still likely to be buoyed by next year's parliamentary election results. Nonetheless, the president needs quickly to reassert his commitment to change in the run-up to the election.
Topic:
Security, Democratization, Government, and Politics
Political Geography:
Iran and Middle East

11004. Greenhouse Gas Emissions

Author:
Jeffrey A. Frankel
Publication Date:
06-1999
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
Growth targets for emissions of greenhouse gases (GHG) by developing countries should be part of the effort to mitigate global climate change. This policy brief advances an approach for determining appropriate targets. They should be neither so tight as to retard economic development nor so generous as to confer enormous windfall gains. But where in this range should these targets be set? A fair allocation for potential new participants would fit the present pattern of emissions reductions agreed among industrialized countries at Kyoto in December 1997. Richer countries, in effect, agreed to make bigger sacrifices (on average) than did poor ones. Given uncertainty about the future, however, fixing the precise quantitative emission target now would create great risks regarding the ultimate stringency of the target. It would raise concerns that a target could turn out either unexpectedly stringent—unintentionally constraining economic development—or unexpectedly lax—resulting in emissions greater than in the absence of an agreement. Indexing emission targets to a country's gross domestic product (GDP) growth would moderate the effects of uncertainty.
Topic:
International Relations, Emerging Markets, and Environment

11005. The International Financial Architecture

Author:
Jeffrey A. Frankel
Publication Date:
06-1999
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
The recent financial crises in many emerging market economies have raised anew questions about the appropriate exchange-rate regime and the use of capital controls as policy instruments. The use of both mechanisms should be tailored to each country's unique circumstances. Fixed exchange-rate mechanisms, such as dollarization (adopting the dollar as legal tender in place of the national currency), are suited to small open economies or those desperate to import monetary stability. Larger economies, such as the European Union (EU) and the United States, should allow their currencies to float. Intermediate regimes that fall between fixed- and floating-rate regimes—such as bands, baskets, and crawls (See Figure 1 for definitions)—are still appropriate for some countries. Certain well-targeted restrictions on the composition of capital flows might be appropriate for some emerging-market countries as temporary measures when inflows are particularly high.
Topic:
Economics and International Trade and Finance
Political Geography:
United States and Europe

11006. NATO at 50: The Summit Beyond

Author:
Ivo H. Daalder
Publication Date:
04-1999
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
At the threshold of a new century, NATO needs a new purpose. A NATO maintained solely as a hedge against an uncertain future (including a possibly resurgent Russia) will become increasingly marginal to the interests of its members. A shift in emphasis to defending common global interests risks magnifying discord among Alliance members. Instead, NATO's purpose should now be to extend security and stability to all of Europe. This will require placing more emphasis on the ability to conduct crisis management operations in the region and taking practical, visible steps to keep the door to NATO membership wide open.
Topic:
Security, NATO, and International Organization
Political Geography:
Europe

11007. The Case Against Tax Cuts

Author:
William G. Gale and Alan J. Auerbach
Publication Date:
03-1999
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
Emerging federal budget surpluses have sparked calls for large-scale tax cuts that would be irresponsible and counterproductive. Surpluses over the next ten years are based on optimistic assumptions regarding revenues and spending. Even if they do materialize, the surpluses will exist only because government accounting obscures the growing cost of future liabilities. The government faces a large, long-term deficit, and tax cuts would make this problem worse. The proposed 10-percent income tax rate cut would provide disproportionately large benefits to wealthy households and little to lower income households. It would have little effect on economic growth, but would impose higher burdens on future generations, and would reduce future budget discipline by violating the budget rules. Moreover, for most families, tax burdens are already at their lowest level in twenty years. Saving the surplus, by paying down public debt, would help the economy much more than would tax cuts.
Topic:
Government and Political Economy
Political Geography:
United States

11008. The Changing Shape of Government

Author:
Paul C. Light
Publication Date:
02-1999
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
The past six years have witnessed the most significant reshaping of the federal workforce in recent history. On the one hand, government clearly has lost weight. The total number of full-time federal employees has declined, as has the number of federal middle-level managers. On the other hand, government has gotten much taller, at least as measured by the number of layers at the very top of the federal hierarchy. This changing shape means that ordinary Americans will be less likely to contact a federal employee when they call a government 800 number, write an office, or use a service. It also means that the nation's elected and appointed leaders will be further from the front lines, and less likely to know what the public is getting for its tax dollars.
Topic:
Government
Political Geography:
United States

11009. A Dollarization Blueprint for Argentina

Author:
Steve H. Hanke and Kurt Schuler
Publication Date:
03-1999
Content Type:
Policy Brief
Institution:
The Cato Institute
Abstract:
President Carlos Menem of Argentina has advocated replacing the Argentine peso with the dollar. Dollarization would benefit Argentina because it would eliminate the peso-dollar exchange-rate risk, lower interest rates, and stimulate economic growth.
Topic:
Economics and International Political Economy
Political Geography:
Argentina, South America, and Latin America

11010. Ballistic Missile Proliferation: Does the Clinton Administration Understand the Threat?

Author:
Ivan Eland and Timothy M. Beard
Publication Date:
02-1999
Content Type:
Policy Brief
Institution:
The Cato Institute
Abstract:
Although the end of the Cold War reduced the likelihood of a nuclear exchange between the superpowers, several smaller rogue states, through their dedicated efforts to acquire weapons of mass destruction and ballistic missiles, have emerged as potential threats to U.S. national security. National Intelligence Estimate 95-19 stated that no new missile threats to the United States would develop before 2010. However, given the curious circumstances of the estimate's release and the many analytical faults contained in the document, its results have been questioned.
Topic:
Defense Policy and National Security
Political Geography:
United States

11011. Hong Kong Update: Winter 1999-2000

Author:
Frank Ching, Lee Kuan Yew, George Hui, and Sunny Kai-Sun Kwong
Publication Date:
10-1999
Content Type:
Policy Brief
Institution:
Center for Strategic and International Studies (CSIS)
Abstract:
During my yearly visits to Hong Kong over the last thirty years, I was struck by the upbeat, can-do spirit of its people. However troublesome the situation, such as the noisy demonstrations of the imitators of the Red Guards in 1966 and 1967, or the economic downturn caused by the sudden quadrupling of oil prices in 1973, Hong Kong people were not dismayed or despondent. So when I spent a few days in Hong Kong at the beginning of June this year, I was surprised by its completely different mood. The people I met seemed frustrated at finding themselves in a situation where the solutions were not obvious. Much of the present malaise in Hong Kong arises from the problems of a transition that proved more difficult than expected. In part it was because of the five years of the last governor's policies, aggravated by the Asian financial crisis. Until the territory has come through this transition phase it is not possible to make any long-term forecasts on Hong Kong's future.
Topic:
Civil Society, Economics, Government, and Politics
Political Geography:
Israel and Hong Kong

11012. Oil For Wheels

Author:
John V. Mitchell
Publication Date:
12-1999
Content Type:
Policy Brief
Institution:
Chatham House
Abstract:
Current trends in transportation are unsustainable. A struggle for new means of mobility is beginning. Changes are inevitable. There is uncertainty about growth in the supply of fuel for vehicles after 2020. (See Briefing Paper No. 10, Changing Oil, by Norman Selley, forthcoming January 2000).The transport sector will be required to contribute to the reductions in GHG emissions required under the Kyoto Protocol. This will involve going beyond the 20-30% improvements envisaged by current voluntary commitments such as those by the Association of European Automobile Manufacturers in Europe, since such improvements extend trends which are already embedded in 'business as usual' projections.To manufacture clean petroleum fuels to protect urban air quality against increasing volumes of vehicle traffic will require increases in hydrogen inputs which cannot be achieved without significant increases in CO2 emissions (unless restrictions on the expansion of nuclear power are lifted).
Topic:
Energy Policy, Environment, and Science and Technology

11013. The Southern African Development Community: Regional Integration in Ferment

Author:
David Simon and Alexander Johnston
Publication Date:
12-1999
Content Type:
Policy Brief
Institution:
Chatham House
Abstract:
Shortly before he became President of the 'new South Africa' in May 1994, Nelson Mandela stressed that his country's relations with the region's poorer and weaker neighbours would be characterized by 'sensitivity and restraint'. This declaration of intent was welcome given South Africa's traditional dominance as the hegemonic power during the apartheid era and the resulting crude and at times violent exploitation of its neighbours' dependence, in varying degree, on the Republic's economy for a wide range of goods and services, for transport links and a market for employment. Indeed, South Africa's accession to the Southern African Development Community (SADC) in 1994 offered the promise of a new deal in regional relations, with the new member acting as an 'engine of growth' and as a cooperative and enthusiastic supporter of purposeful and sustained regional integration.
Topic:
Development, Economics, International Cooperation, and International Organization
Political Geography:
Africa

11014. The Election of Ishihara: A Symbol of Rising Nationalism in Japan?

Author:
Christopher P. Hood
Publication Date:
11-1999
Content Type:
Policy Brief
Institution:
Chatham House
Abstract:
Ishihara Shintaro, known for his strong views particularly on Japan's relationship with the United States, became Governor of Tokyo on 11 April 1999. This paper considers the significance of his election, and whether it symbolizes a rise in nationalism in Japan.
Topic:
International Relations, Nationalism, and Politics
Political Geography:
United States, Japan, Israel, and Tokyo

11015. Currency Boards or Dollarization — Solutions or Traps

Author:
John Chown
Publication Date:
08-1999
Content Type:
Policy Brief
Institution:
Chatham House
Abstract:
Currency boards have been suggested for Russia, and adopted elsewhere in eastern Europe. Brazil's fixed rate has had to be abandoned, but Argentina is considering replacing its currency board with dollarization, and suggesting this solution for the rest of Latin America. Fixed exchange-rate regimes (and the crawling peg in Russia) have collapsed in Southeast Asia but Hong Kong, which had a formal currency board, has (so far) survived.
Topic:
Economics and International Trade and Finance
Political Geography:
Russia, Eastern Europe, Latin America, Central America, Caribbean, and North America

11016. New Government, New Agenda For Israel

Author:
Joel Peters and Becky Kook
Publication Date:
08-1999
Content Type:
Policy Brief
Institution:
Chatham House
Abstract:
On 17 May 1999 Ehud Barak secured a stunning victory in the Israeli elections, defeating incumbent Prime Minister Binyamin Netanyahu with a majority of almost 400,000 and gaining slightly over 56 per cent of all the votes cast. While polls in the days immediately prior to the election had signalled Netanyahu\'s defeat, no one had anticipated such a landslide victory. After three turbulent years of Likud government, Barak\'s election slogan \'Israel wants a change\' clearly captured Israeli public disillusion with Netanyahu, who lost the trust and support of voters throughout the country.
Topic:
Conflict Resolution, Government, Peace Studies, and Politics
Political Geography:
Middle East and Israel

11017. Can Public Service Survive The Market? Issues For Liberalized Electricity

Author:
Walt Patterson
Publication Date:
08-1999
Content Type:
Policy Brief
Institution:
Chatham House
Abstract:
As governments around the world liberalize their electricity systems, they are overturning the guiding principles that have shaped electricity for the past century. Yet they continue to regard electricity as a public service. The consequent inconsistencies and contradictions are already evident, and intensifying. This Briefing Paper outlines the implications. It is based on a research project now under way in the Energy and Environmental Programme, entitled Keeping the Lights On: Public Service in Liberalized Electricity. For details please see the back page.
Topic:
Energy Policy and Government
Political Geography:
Europe

11018. State And Region: The Spanish Experience

Author:
David Bright
Publication Date:
06-1999
Content Type:
Policy Brief
Institution:
Chatham House
Abstract:
One of the most interesting consequences of the development of the European Union has been the stimulus it has given in recent years to the rediscovery of region within European states. As the supra-state functions of the European institutions in Brussels have burgeoned and the intrinsic sovereignty of the state in Europe has declined, so regions have acquired an ever greater social and political significance. Of course, in some cases, the state was traditionally federal in nature—as with Germany\'s Länder system—and, politically at least, regional aspirations have been satisfied. In the past two decades, however, regional aspirations have expanded into social and cultural spheres that require a new, defined political context. Even in such long-established states as the United Kingdom, such pressures now have to be acknowledged as sub-state factors enter into the complex array of political elements that go to make up the contemporary Union. In this context the Spanish experience is illuminating, both in the way it demonstrates how such tendencies should be accommodated and in the way in which regional populations respond. It is, in fact, a paradigm for a development that will become inevitable and universal as the power of the state declines within the wider structures of contemporary \'Euroland\'.
Topic:
Government and Religion
Political Geography:
Europe and Germany

11019. The Buenos Aires Climate Conference:Outcome And Implications

Author:
Christiaan Vrolijk
Publication Date:
04-1999
Content Type:
Policy Brief
Institution:
Chatham House
Abstract:
The Kyoto Protocol agreed in December 1997 was a landmark, but not an end point. Negotiations are on going to fill in the gaps left in the Protocol. From 2 to 14 November the Conference of Parties met again to follow up on Kyoto in its fourth session (COP-4) in Buenos Aires. After the media hype of the Japan meeting, the lack of news coverage was not entirely deserved. Although discussions had to focus on filling in the details in the framework of the Kyoto Protocol, these details will determine just how big a step Kyoto was The Framework Convention on Climate Change (FCCC) was negotiated at the \'Earth Summit\' in Rio de Janeiro in 1992 and has entered into force in 1994. Under the Convention the Parties have committed themselves to stabilize greenhouse gas concentrations \'at a level that would prevent dangerous anthropogenic interference with the climate system\'. The headline commitment for the countries listed in Annex I of the Convention, the industrialized countries, is to return greenhouse gas emissions to 1990 levels, and to show a reversal in the trend of growing emissions before the year 2000. The Conference of Parties meets annually as the supreme body of the Convention, dealing with various issues related to it. The Kyoto Protocol, negotiated at COP-3 in Japan, is a Protocol to the FCCC, and as such was also on the negotiating table of the COP in Argentina. It sets out renewed, and now legally binding, emission reduction commitments for the Annex B Parties (the industrialized and former COMECON countries). The overall commitments add up to a 5% reduction from 1990 in a basket of greenhouse gases, including carbon dioxide, methane, nitrous oxide, some industrial gases (HFCs, PFCs, SF6) and emissions and removals from land-use change and forestry (LUCF). After its entry into force, the Meeting of Parties (to the Kyoto Protocol) will take over the responsibility for the Protocol issues Many Annex B Parties that have taken up commitments under the Kyoto Protocol stressed the importance at working on the rules for the mechanisms of the Protocol. The EU also stressed the need for limits on the use of these mechanisms and a compliance regime. The G77/China stressed the importance of a debate on the adverse effects and impact of responses. One of the commentators said that Article 17 on international emissions trading \'contains the basic principles, but its main feature is the fact that it can be interpreted to anyone\'s liking\'. Many articles leave room for further work by the COP. Even if the text was not deliberately ambiguous, only general principles were described, so that the 170 Parties at the negotiations could reach agreement, with a later COP to decide on the details of the issue This paper will first briefly discuss the science of climate change and then consider the Buenos Aires Plan of Action and the most important individual issues of the conference.
Topic:
Environment, International Cooperation, and Science and Technology
Political Geography:
China

11020. Conflict In The Horn: Why Eritrea And Ethiopia Are At War

Author:
Martin Plaut and Patrick Gilkes
Publication Date:
03-1999
Content Type:
Policy Brief
Institution:
Chatham House
Abstract:
In May 1991 the capital of Eritrea, Asmara, fell to the liberation movement that had been fighting for the independence of the territory for the past thirty years. At the same time the Ethiopian capital, Addis Ababa, was captured by forces led by northern rebels from the province of Tigray. It seemed, for a moment, that the long and bloody wars that had racked the region might be at an end. The dual victories were the result of a close cooperation between the two movements that had led these struggles—the Eritrean People's Liberation Front (EPLF) and the Tigray People's Liberation Front (TPLF). Both had been determined to overcome authoritarian rule from Addis Ababa and had worked closely together to achieve this end. Two years later Eritrea achieved formal independence, recognized by the United Nations, by the Organization of African Unity and—most important of all—by the new rulers in Ethiopia. At the hour of victory relations between the two movements appeared genuinely warm and friendly. Yet just seven years later the divisions could hardly be deeper. Since May 1998 they have been in—or close to—open warfare. Their leaders, who were once close personal friends, are no longer on speaking terms. Tens of thousands of people have been deported or displaced and radio stations blare out vitriolic propaganda against one another. These are complex events that have been further obscured by the contradictory versions of the truth that both sides have advanced.
Topic:
Conflict Resolution, Migration, Nationalism, Sovereignty, and United Nations
Political Geography:
Africa and Ethiopia