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161. The Impact of COVID-19 on Education in Latin America: Long-Run Implications for Poverty and Inequality

Author:
Jessica Bracco, Matias Ciaschi, Leonardo Gasparini, Mariana Marchionni, and Guido Neidhöfer
Publication Date:
01-2024
Content Type:
Working Paper
Institution:
Center for Distributive, Labor and Social Studies (CEDLAS)
Abstract:
The shock of the COVID-19 pandemic affected the human capital formation of children and youths. As a consequence of this disruption, the pandemic is likely to imply permanent lower levels of human capital. This paper provides new evidence on the impact of COVID-19 and school closures on education in Latin America by exploiting harmonized microdata from a large set of national household surveys carried out in 2020, during the pandemic. In addition, the paper uses microsimulations to assess the potential effect of changes in human capital due to the COVID-19 crisis on future income distributions. The findings show that the pandemic is likely to have significant long-run consequences in terms of incomes and poverty if strong compensatory measures are not taken soon.
Topic:
Education, Poverty, Inequality, Human Capital, COVID-19, and Income
Political Geography:
Latin America

162. What Makes an Imagined Future Credible?

Author:
Jens Beckert
Publication Date:
05-2024
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
Narratives of the future are a crucial source of the dynamics of capitalism (Beckert 2016). Since there are no future facts, assessments of the future necessarily need to rely on accounts that cannot be limited to the presentation of facts. This means they cannot be true or false, but they can be credible or non-credible. To trigger decisions, the narrative must convince actors that it is at least sufficiently probable that events will indeed play out as portrayed. But where does this credibility come from? I propose a simple model which consists of three elements. I distinguish first the "story-maker" or "persuader", the person (or institution) that creates specific imagined futures and often wants to convince other actors of the accuracy of the narrative. Second, the "story-taker" or agent who ultimately makes the decisions through which resources are put at risk and who needs to become convinced of the credibility of the imagined future. The third element in the model is social context, the features of the social and material environment that position the agent in a social network and influence assessments of credibility.
Topic:
Capitalism, Power, Narrative, Future, Credibility, Uncertainty, Imagined Futures, Persuasion, Social Context, and Story
Political Geography:
Global Focus

163. The Greek Tragedy: Narratives and Imagined Futures in the Greek Sovereign Debt Crisis

Author:
Jens Beckert and Hans Lukas Richard Arndt
Publication Date:
04-2024
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
Between 2009 and 2015 Greece underwent a profound sovereign debt crisis that led to a serious political crisis in Europe and the restructuring of Greek debt. We argue that the prevalence of negative narratives about the future contributed to the changes in spreads of Greek bonds during the crisis. We support our argument by presenting results from text mining a corpus of 9,435 articles from the Financial Times and the Wall Street Journal. Based on sentiments and a machine learning model predicting future reference, we identify newspaper articles which generate negative and uncertain outlooks for the future in the expert discourse. We provide evidence from time series regression analysis showing that these negative imagined futures have explanatory power in models estimating spread development of Greek vs. German sovereign bonds. We suggest that these findings provide good evidence for the relevance of “imagined futures” for investors’ behavior, and give directions for an innovative contribution of sociology to understanding the microfoundations of financial crises.
Topic:
Debt, Financial Crisis, Financial Markets, Future, Sovereign Debt, Economic Sociology, Sentiment Analysis, and Valuation
Political Geography:
Europe and Greece

164. Triffin Reloaded: The Matrix of Contradictions around Global Quasi-State Money

Author:
Herman Mark Schwartz
Publication Date:
03-2024
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
What explains the US dollar’s role in the global economy and the tensions affecting its likely persistence? Most analyses start from Triffin’s dilemma, which accurately captured specific but partial tensions of a global monetary system based on essentially fixed exchange rates, gold backing for its core currency, and relatively robust capital controls. Triffin’s approach, and those based on it, struggles to explain the tensions in a system with floating exchange rates and fiat money, because Triffin and successors assume a commodity theory of money, a loanable funds model for credit creation, and the “triple coincidence” of monetary, legal, and economic zones. Approaching the question from different premises – chartalist money, endogenous credit creation, and interlocked global balance sheets – enables us to see four factors behind the antinomies or dilemmas that structure the dynamics and durability of US dollar centrality. Those four factors are adequate credit creation and thus global aggregate demand growth, current account deficits for the core, domestic legitimacy in major economies, and the dollar’s status as global quasi-state money.
Topic:
Debt, Money, Currency, Power, Financial Systems, Geoeconomics, and Reserves
Political Geography:
Global Focus and United States of America

165. Dealing Government Bonds: Trading Infrastructures and Infrastructural Power in European Markets for Public Debt

Author:
Arjen van der Heide
Publication Date:
02-2024
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
Confronted with increased difficulties to raise taxation, high inflation, and pressures to maintain social spending, many rich democracies have increasingly sought to raise funds in financial markets since the 1970s. Using the notion of “infrastructural power,” this paper examines the various ways in which states have become infrastructurally entangled with key actors in financial markets that provide the infrastructure of today’s markets for government bonds. Drawing on twenty-two interviews with debt managers and market participants, and documentary material, the article analyses the rise to prominence of MTS (Mercato dei Titoli di Stato), an electronic platform for trading government bonds that has become a key feature of Europe’s government bond market infrastructure. It traces the emergence of MTS in Italy, its rapid diffusion through Europe and its limited (or even non-existent) success in gaining market share in Germany and the UK. In so doing, this paper finds that some debt management units actively regulate their secondary bond markets to stimulate competition among dealer banks; they “orchestrate” the market for government bonds. Others take a more hands-off approach and only engage with secondary markets mostly as market participants by issuing debt instruments and perhaps buying and selling them in the secondary market. These differences are important for understanding the politics of sovereign debt: they reflect power relations, may impact states’ cost of borrowing and their capacity to withstand moments of fiscal stress.
Topic:
Infrastructure, Financial Markets, Banks, Public Debt, and Bonds
Political Geography:
Global Focus

166. Talking Exports: The Representation of Germany’s Current Account in Newspaper Media

Author:
Andreas Maschke
Publication Date:
01-2024
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
Contents 1 Introduction 2 Germany’s export-led growth model 3 Sustainability of growth models: Growth coalitions and public discourse 4 Analysing the discourse surrounding Germany’s current account surplus 5 Results Quantitative analysis Qualitative analysis 6 Discussion of results 7 Conclusion Appendix References
Topic:
Political Economy, Media, News Analysis, Economic Growth, and Discourse
Political Geography:
Europe and Germany

167. Perspectives on the 1972–1973 massacre and post-conflict reconstruction efforts in Burundi

Author:
Isidore Nsengiyumva
Publication Date:
07-2024
Content Type:
Working Paper
Institution:
The African Centre for the Constructive Resolution of Disputes (ACCORD)
Abstract:
How do we repair and reconcile a society broken multiple times by years of political violence and cyclic mass atrocity events? Reconciliation processes in post-conflict societies tend to favour state-led peace processes to aid individuals and communities alike to heal, make sense of the past while also imagining and forging an interdependent future together. The Burundi Truth and Reconciliation Commission (TRC), established in 2014, has the mandate to investigate past crimes and mass violence events dating from 1885 to the 4 December 2008 ceasefire with the aim of aiding truth-telling, reconciliation and transitional justice. The paper comments on how the TRC shapes ongoing healing, reconciliation and transitional justice efforts in post-conflict Burundi. This paper uses desk-based research to draw insights from documented works and reports of the TRC between 2018 and 2022. The TRC’s findings sparked multiple narratives and public discourse in the Senate which further led to the re-examination of the 1972‒1973 massacre, the legacy of colonisation and its impact in cementing ethnic divisions that led to cyclic mass violence in Burundi.
Topic:
Transitional Justice, Colonialism, Violence, Reconciliation, Narrative, and Truth and Reconciliation
Political Geography:
Africa and Burundi

168. Deterrence, escalation and strategic stability: rebuilding Australia’s muscle memory

Author:
Bec Shrimpton
Publication Date:
05-2024
Content Type:
Working Paper
Institution:
Australian Strategic Policy Institute (ASPI)
Abstract:
To build an effective deterrence strategy, Australia needs urgently to improve its skills and understanding of deterrence, and raise the topic’s profile in our public and policy discussions. Despite having previously been a global thought leader on nuclear weapons and deterrence half a century ago, Australia today doesn’t have a strong grasp of the basics of modern deterrence. Knowledge of and literacy in deterrence are vital for adapting and applying such concepts to meet today’s extraordinarily complex, multidomain and multidimensional requirements. A lack of understanding of deterrence can critically undermine the ability to get strategy and policy right. The implications for Australia’s national interests are urgent and serious. The limited debate in Australia about what good deterrence strategy looks like and its key components can’t be advanced without better understanding of key terms and ideas that are fundamental to deterrence theory and practice. There are, of course, obvious limits to what Australia can achieve alone. Our ability to integrate and combine our military capabilities with those of the US and other critical partners is fundamental to our ability to achieve our security objectives, but some of our partners are working more closely together on building deterrence strategies. We have some catching up to do. This report explains what deterrence is and why it matters. It looks at Australian deterrence policy in practice and at deterrence efforts by some of our partners and allies and it highlights a number of gaps in Australia’s strategic and deterrence planning. The report makes a series of policy recommendations for government, and especially for the Department of Defence, to rebuild Australia’s position as a thought leader on deterrence.
Topic:
Defense Policy, National Security, Deterrence, Strategic Stability, and Escalation
Political Geography:
Australia and Australia/Pacific

169. The technical limits of the EU. Europe’s defense economy as a driving force for strategic autonomy and technological sovereignty

Author:
Loïc Simonet
Publication Date:
01-2024
Content Type:
Working Paper
Institution:
Austrian Institute for International Affairs (OIIP)
Abstract:
The Working Paper delves into the European Union’s defense sector’s evolution and current challenges, underscoring the urgency for strategic autonomy and technological sovereignty. It provides a historical backdrop of EU defense initiatives, highlighting the significant influence of recent geopolitical shifts, notably the conflict in Ukraine, on the EU’s defense strategies and industrial landscape. The fragmentation of the European defense market, rising equipment costs, and hefty R&D expenses undermining competitiveness and innovation are identified as key challenges. The author focuses on the war in Ukraine as a catalyst for a consolidated defense equipment market and a surge in military expenditures and defense investments among EU nations. He scrutinizes EU’s measures to foster innovation and integration in the defense market while grappling with national protectionism and divergent member state interests. Conclusively, the report advocates for an autonomous European defense capability as crucial for tackling both longstanding and emerging crises and threats. It underscores the imperative of a harmonized defense approach within the EU, highlighting its significance for the region’s stability and security.
Topic:
Defense Policy, European Union, Strategic Autonomy, and Russia-Ukraine War
Political Geography:
Europe and Ukraine

170. The UN Summit of the Future (September 2024): Which opportunities for the OSCE?

Author:
Loïc Simonet
Publication Date:
07-2024
Content Type:
Working Paper
Institution:
Austrian Institute for International Affairs (OIIP)
Abstract:
The UN Summit of the Future, scheduled for 22-23 September 2024, brings together the United Nations' 193 member states under the theme “multilateral solutions for a better tomorrow.” Despite a sour mood in New York City against the backdrop of the war in Ukraine and the Israel-Gaza conflict, the Summit can act as a ‘reset’. The OSCE, which is “multilateralism in action”, should use the event and its aftermaths to promote its remarkable contribution as a ‘regional arrangement’ under Chapter VIII of the UN Charter and its thirty-year concrete co-operation with the UN. Both UNSG Guterres’s ‘New Agenda for Peace’ and the draft ‘Pact for the Future’, the two conceptual foundations of the forthcoming Summit, resonate well with the OSCE’s concept of comprehensive security. By taking proactive steps in that framework, the Vienna Organization can enhance its role and effectiveness in the evolving international system. This paper’s ten recommendations include: the adoption of a Ministerial Declaration at the December 2024 Council, taking advantage of Malta’s current 'double-hatted’ status – OSCE Chair and non-permanent member of the UN Security Council -; the continuation of the joint OSCE-UN preparation in view of future opportunities in Ukraine, leveraging the SMM’s experience and lessons learned including the use of advanced monitoring technologies; the establishment of the OSCE as a ‘regional hub’ for climate change, building on Guterres’s call to address the interlinkages between climate, peace and insecurity as a “political priority”; and the increased involvement of the OSCE’s Mediterranean and Asian partners for co-operation which offer gateways to the ‘broader world’.
Topic:
United Nations, Multilateralism, OSCE, and Future
Political Geography:
Global Focus

171. Gender-responsive development

Author:
Karmen Tornius and Lars Engberg-Pedersen
Publication Date:
01-2024
Content Type:
Working Paper
Institution:
Danish Institute for International Studies (DIIS)
Abstract:
In addition to national gender policies, African governments and non-state actors engage with the African Union and United Nations to negotiate and draft international agreements on gender equality issues. This DIIS Working Paper explores the priorities, contestations and gaps in the African Union’s gender governance; the status of and priorities in gender-responsive governance at country level; and African priorities in global gender policy spaces. This study discusses those linkages between different levels while focusing on nine countries: Burkina Faso, Egypt, Ethiopia, Ghana, Kenya, Somalia, South Africa, South Sudan and Uganda. Taking Danish development co-operation priorities as a point of departure, these countries provide perspectives from very diverse economic and security contexts.
Topic:
Democratization, Development, Diplomacy, International Organization, Politics, African Union, Peacebuilding, and Gender
Political Geography:
Europe and Denmark

172. The need for a ‘peace continuum’ approach to climate security

Author:
Louise Wiuff Moe
Publication Date:
02-2024
Content Type:
Working Paper
Institution:
Danish Institute for International Studies (DIIS)
Abstract:
Climate change is a priority area in European and broader Western initiatives for global security, with a significant focus on Africa. This DIIS Working Paper argues that advancing the climate security agenda requires approaches that integrate climate adaptation and finance into a ‘peace continuum’, spanning prevention, peacebuilding, and development. The paper shows where the current climate security-agenda falls short, in particular regarding climate finance and the prioritisation of conflict-affected contexts. It asserts that addressing these gaps is essential both for climate justice and for fostering partnerships in Africa amid growing global geopolitical competition. Drawing on insights from Africa’s Horn, the paper also discusses concrete opportunities for advancing a ‘peace continuum' approach to climate security. Specifically, it underscores the importance of strategic engagement and accessible, conflict-sensitive climate finance, notwithstanding challenges posed by institutional fragmentation and conflict. Recommendations are supported by examples of UN, AU and IGAD initiatives and case studies from Somalia and Somaliland.
Topic:
Climate Change, Development, Environment, Natural Resources, Peace, and Strategic Engagement
Political Geography:
Denmark, Somalia, Somaliland, and Horn of Africa

173. Non-state armed groups in the sky

Author:
Maria-Louise Clausen
Publication Date:
04-2024
Content Type:
Working Paper
Institution:
Danish Institute for International Studies (DIIS)
Abstract:
The proliferation of inexpensive and user-friendly, civilian-grade drones represents an escalating security concern for states. Currently, over 65 non-state actors are known to possess drones, and the unregulated nature of drone usage suggests that this number will continue to rise unchecked.
Topic:
Security, Non State Actors, Armed Forces, Weapons, and Drones
Political Geography:
Global Focus

174. Essential concepts must be contested

Author:
Felix Berenskötter and Stefano Guzzini
Publication Date:
07-2024
Content Type:
Working Paper
Institution:
Danish Institute for International Studies (DIIS)
Abstract:
In this forthcoming chapter for the newest Handbook of International Relations, edited by Cameron Thies, and to appear with Edwards Elgar Publ., Felix Berenskötter and Stefano Guzzini provide a methodology for how to use concept analysis for theoretical and political critique. 'Contested essential concepts' discusses the nature of concepts and of different forms of theoretical contestation, namely (1) contesting often tacit assumptions in political and normative theorizations, (2) contextualizing (and 'provincializing') the formulation of ideal-types in empirical theorizations, and (3) problematizing the use of concepts in political practice. The paper concludes by showing that meaningful contestation requires a capacity of translation.
Topic:
International Relations, Politics, and International Relations Theory
Political Geography:
Global Focus

175. The Polish Economy 2023 and Beyond: How to Mend Home Loans

Author:
Andrzej Reich, Dariusz Filar, and Michal Polasik
Publication Date:
01-2024
Content Type:
Working Paper
Institution:
Center for Social and Economic Research - CASE
Abstract:
The subject of this publication, reflecting the discussion held between experts on 30 March 2023, is that of housing loans in Poland. The publication focuses primarily on discussing the state of mortgages (at the end of the first quarter of 2023). This state is the effect of (a) legislation, (b) institutional solutions, (c) past processes in the financing of housing loans, and recently also (d) the high level of inflation dampening both lending by the banks and the level of interest among bank customers. The publication's second purpose is to present recommendations which, once put into effect, could rectify today’s lamentable situation. All of the proposals presented in this publication lead to one general recommendation: the answer to the current shortcomings lies not in isolated, single changes; what is essential is a new system for the market. This new system should be (a) flexible, (b) free of legal risk while at the same time (c) better protected against market risk, and (d) it should also contain a more comprehensive range of products; on this market (e) the state, as the regulator, should intervene ex-ante and not only ex-post (as has been the case in Poland for the last 20 years), while (f) customers should have the essential minimum of financial knowledge, first and foremost regarding awareness of the risk related to, which by their very nature are long-term loans.
Topic:
Markets, Economy, Interest Rates, Risk, Mortgages, Banking, Loans, and Financial Education
Political Geography:
Europe and Poland

176. A battle against time – and against Putin’s Russia

Author:
Erwan Fouéré
Publication Date:
02-2024
Content Type:
Working Paper
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
With Putin’s war against Ukraine about to enter its third year, the EU’s enlargement policy remains at the top of its foreign policy priorities, with the focus being on both Ukraine and Moldova. This is following the European Council’s decision to open accession negotiations with both countries. But where does this leave the countries of the Western Balkans and their very long journey towards the EU which began over 20 years ago? Will these countries’ hopes for much needed political momentum in their accession prospects be fulfilled during 2024, despite the repeated delays and the EU’s failure to respect its commitments to the region over the past few years? With elections taking place across Europe offering fertile ground for Russia to deploy its arsenal of disinformation tactics, time is not on the EU’s side. To counter Russian attempts to influence developments in the region, as well as to reverse the dangerous trend of backsliding in democratic and rule of law reforms, the EU will need to adopt a more robust, consistent and determined approach towards the Western Balkans. Without any further delay, it needs to set out a much needed geopolitical and security direction for its enlargement policies in the Western Balkans.
Topic:
Security, European Union, Democracy, Geopolitics, Rule of Law, Regional Integration, and Russia-Ukraine War
Political Geography:
Europe, Ukraine, Moldova, and Balkans

177. The State of EU-US Digital and Energy Cooperation

Author:
Federica Marconi, Wolfgang Münchau, and Irene Paviotti
Publication Date:
02-2024
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
In a time of rapid technological advancements and changing energy paradigms, the European Union and the United States are trying to coordinate their efforts to navigate the complexities of an ever-evolving landscape. Transatlantic dialogues and cooperative endeavours are key mechanisms for mitigating tensions and fostering a common assessment of the opportunities and risks arising from these advancements. Critical in this regard are the problems of governance emanating from technological development and its consequences in the digital sphere as well as the delicate balance between security, competitiveness and environmental targets in the energy dimension.
Topic:
Climate Change, International Cooperation, Political Economy, Governance, European Union, Transatlantic Relations, Digital Policy, and Energy
Political Geography:
Europe, North America, and United States of America

178. The Future of the Belt and Road in Europe: How China’s Connectivity Project is Being Reconfigured across the Old Continent – and What It Means for the Euro-Atlantic Alliance

Author:
Nicola Casarini
Publication Date:
02-2024
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
China’s Belt and Road Initiative (BRI) has entered the twilight zone in the old continent, following a deterioration of bilateral relations between the EU member states and China over the last years. Italy’s official exit from the BRI at the end of 2023 was a further blow to Chinese President Xi Jinping’s signature foreign policy. Yet, the BRI in Europe is being reconfigured rather than being terminated. In Western Europe, the BRI is moving away from physical infrastructure projects and investment in industrial assets – the latter being increasingly protected from Chinese takeovers by both national and EU legislation – to financial and monetary connectivity. This shift is welcomed by various European actors, including some policymakers at the national level, eurozone institutions and major banks. Concurrently, most of Eastern European countries continue to promote BRI projects and seek to attract Chinese investments, suggesting that there is a two-speed Europe when it comes to China, both in terms of geography and sectors.
Topic:
Infrastructure, Foreign Direct Investment, European Union, Belt and Road Initiative (BRI), and Currency
Political Geography:
China, Europe, Asia, and Italy

179. Challenges to Transatlantic Digital Infrastructure: An EU Perspective

Author:
Anselm Küsters, André Wolf, and Eleonora Poli
Publication Date:
02-2024
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
Recent disruptions in the Baltic Sea and elsewhere highlight the integral role of digital and physical conduits such as gas pipelines, telecommunications cables and undersea data cables in maintaining European connectivity and security. Overall, the EU’s responses to emerging challenges to its digital sovereignty, particularly from China and Russia, aim to enhance the security and resilience of its digital landscape, from the Global Gateway Strategy to the Gaia-X project. However, the complexity of the submarine cable infrastructure requires a broader and more holistic assessment of the opportunities and obstacles to ensuring the uninterrupted flow of information across borders. Ultimately, a concerted transatlantic effort is needed to strengthen the backbone of Europe’s digital infrastructure against both man-made and natural adversities, thereby securing a future where sovereignty and resilience are paramount for both the EU and the US.
Topic:
International Political Economy, Politics, Infrastructure, European Union, Institutions, Transatlantic Relations, and Digital Policy
Political Geography:
Europe

180. Transatlantic Tech Bridge: Digital Infrastructure and Subsea Cables, a US Perspective

Author:
Julia Tréhu and Megan Roberts
Publication Date:
02-2024
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
The importance of digital infrastructure for global communication and connectivity is only growing. Within this varied sector, subsea cables play a central role in ensuring seamless internet traffic globally. What are the US’s strategic and economic interests in digital infrastructure, particularly subsea cables? Within the context of larger economic and geopolitical competition, US policy is multifaceted, from aiming to secure the physical security of infrastructure and guarding against espionage and technology leakage, to boosting economic competitiveness and supporting domestic firms. Overall, digital infrastructure, and undersea cables in particular, are a key element of a larger US strategy of outcompeting China. Although evaluations among allies of the relative threat posed by China and Chinese-owned digital infrastructure vary, broadly shared goals of resiliency, security, and increased connectivity mean there are potential areas for deeper EU-US cooperation, including partnerships with third countries, that align with their respective strategic visions and represent a solid base for further transatlantic coordination.
Topic:
International Political Economy, Infrastructure, Governance, Transatlantic Relations, and Digital Policy
Political Geography:
North America and United States of America