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55161. Latin American Trade Strategy at Century's End

Author:
Carol Wise
Publication Date:
06-1999
Content Type:
Working Paper
Institution:
The North-South Center, University of Miami
Abstract:
This paper tackles the question of trade strategy and differential economic performance in Latin America, with a focus on the four countries -- Argentina, Brazil, Chile, and Mexico -- most important for the successful completion of a full Western Hemispheric integration scheme. The analysis distinguishes between a “standard” market strategy that assigns the task of economic adjustment to market forces and a “competitive” strategy that more actively employs a range of public policies to facilitate adjustment and correct for instances of market failure. The choices of strategy are explored against the backdrop of international pressures, government-business relations, and institutional reform within the state. Two main conclusions are drawn: first, the competitive strategy strongly correlates with more favorable macro-and microeconomic outcomes and, second, mediocre economic performance under a standard market strategy has undermined the spirit of collective action that will be necessary to forge ahead at the hemispheric level.
Topic:
Economics and International Trade and Finance
Political Geography:
Brazil, Argentina, Latin America, Mexico, and Chile

55162. Economic Survey of the Netherlands, 2000

Publication Date:
12-1999
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
In its sixth year of expansion, the Dutch economy has continued to perform well, with strong real GDP growth and job creation. But some tensions have appeared, and inflation is close to the upper limit of price stability as defined by the European Central Bank. The outlook is broadly favourable as GDP growth is expected to slow only moderately: this would provide a welcome cooling-off of the economy. However, fiscal policy needs to remain particularly vigilant concerning the risk of overheating, and stand ready to tighten promptly, within the budgetary framework, if so needed. A major challenge facing the authorities is to deal with the important unfinished agenda in the structural area through speeding up the process of structural reform. The announced income tax reform is particularly necessary, not only to improve fiscal efficiency and equity, but also to redress incentives to work. This would enhance labour market policies aimed at increasing the outflow from social security schemes, and would boost the active labour force and potential output. Other necessary actions include reforming the health care system and introducing more market forces in public transport and some other former public utilities. Taking advantage of the favourable conjunctural situation, the authorities should move ahead forcefully along all these lines, thereby contributing to the continuation of strong job creation in an environment of sustainable economic growth.
Topic:
Economics
Political Geography:
Europe and Netherlands

55163. Economic Survey of the Russian Federation, 2000

Publication Date:
12-1999
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
The economic crisis of 1998 has victimised a number of important areas of institutional development and increased social distress among much of the population. A responsible fiscal and monetary response to the crisis, bolstered by a strengthened current account, has helped to stabilise inflation and the exchange rate, although the low level of reserves, the demands of foreign debt service, and threats to the independence of the Central Bank speak for the continued fragility of the achieved level of stability. A restructuring of foreign debt is critical for consolidating trends in the fiscal sphere. While the quick onset of a recovery in GDP in the wake of the weaker rouble is encouraging, delays in structural reforms and low administered input prices raise concern about the quality and sustainability of this growth. The restructuring and regulation of the commercial banking sector continues to pose major challenges to the Central Bank and the Russian government. Throughout a decade of transition, problems in demonetisation and fiscal federalist relations, the particular focus of this Survey, have been important underlying structural obstacles to economic reform. Although some institutional reforms have provided a foundation for a market economy, delays in addressing these and other fundamental problems have impeded efficiency and increased the comparative vulnerability of the Russian economy to external shocks. The future stability and growth of the Russian economy will require the continuation of responsible macroeconomic policies, but depends first and foremost on progress in structural reform, including tax reform, effective institutions of bankruptcy, competition, more decisive and comprehensive measures to combat the process of demonetisation, defend the rule of law, and realise fundamental reform in fiscal federalist relations.
Topic:
Economics and International Political Economy
Political Geography:
Russia

55164. EMU One Year On

Publication Date:
12-1999
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
The euro came into being under mixed auspices. On the one hand, convergence efforts in the run-up to monetary union, particularly in the fiscal area, had helped bring inflation and interest rates down to historically low levels. On the other hand, growth, which had only just started to recover in earnest after several disappointing years, was slowing down in the wake of a series of emerging market crises. The macroeconomic policy mix prevailing in 1999 combined monetary easing and modest fiscal consolidation. It contributed to sustain domestic demand, limiting the extent of the deceleration. With a brightening external environment, growth picked up vigorously in the second half of the year. In hindsight, the new regime's début is commendable, especially when recalling the gloomy predictions of some sceptics and taking into account that this first year has been a period of learning-by-doing for all agents. Major challenges lie ahead, however, both as regards long-run fiscal sustainability in the face of population ageing and as regards market structures. The policy tradeoffs facing European policymakers are harsher in some important ways than those confronting their counterparts across the Atlantic, because of deeply ingrained labour and product market rigidities. Those are being addressed in various ways, and tangible progress is being made. Nonetheless, reform efforts should be stepped up to raise economic performance significantly above the record of the 1990s.
Topic:
Economics
Political Geography:
Europe

55165. Local Development and Job Creation

Publication Date:
12-1999
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
Globalisation has become a key force of change in all OECD countries. It is making our economies more open, bringing new opportunities, new markets and new wealth. But it also demands more rapid adjustment to change. The accomplishment of strategic restructuring is often required, so that workers are not displaced or excluded from the labour market and so that no localities are left to lag behind or decline. In the new economic environment, policy-makers must help build dynamic and flexible regions and cities. They must assist the transition from individual closed local economic systems to a new, open global system. To do this, it is important to “think globally and act locally”.
Topic:
Development, Economics, Globalization, and Government

55166. Economic Survey of Germany, 1999

Publication Date:
12-1999
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
The new government has set itself the ambitious tasks of lowering unemployment, modernising the economy and the social system, and securing the long term viability of the budget and the health and pension systems. Ecological goals have been given equal prominence in order to ensure the environmental sustainability of economic development. In some fields there has been progress. However, the fiscal package needs to be fully implemented to put public finances on a sustainable path and to create a tax regime that is more business friendly. These policies should be underpinned by structural reforms that strengthen future growth prospects. Such policies can benefit both macroeconomic performance and future fiscal outcomes. While short-term growth prospects are already improving, unemployment remains a major problem. With respect to its strategy for reducing unemployment, the government is seeking to obtain consensus, inter-alia on an employmentfriendly wage policy, via round-table talks with the social partners. It is important that a consistent set of policy instruments emerge that establish clear links between policies and ultimate policy goals. For Germany to attain the employment, growth and environmental aims commensurate with its key position in the European economy, requires not only favourable macroeconomic conditions, including aggregate wage developments, but a policy emphasis which more effectively enhances labour-market flexibility, as well as structural reforms that strengthen individual initiative, economic choice and the role of competition. Since structural and macroeconomic policies tend to have synergies which make them mutually reinforcing, achieving a more flexible and dynamic use of resources will help to assure progress towards the country's social, budgetary, environmental and economic goals.
Topic:
Economics
Political Geography:
Europe and Germany

55167. Economic Survey of Iceland, 1999

Publication Date:
12-1999
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
The Icelandic economy has expanded rapidly over the past five years, bringing output to well above its potential. Clear signs of overheating have emerged, with unemployment below 2 per cent, inflation picking up and a large current external deficit. These developments are projected to continue, raising the risks of a wage-price spiral and financial instability. To guard against such risks, a significant tightening of monetary policy is required, with less priority attached to the exchange rate as a target for policy. This should be complemented by a medium-term fiscal discipline aiming at achieving a structural budget surplus. Such a course would help cope with long-term care spending that will rise with ageing. On the other hand, except for government employees, pensions should not constitute a burden for public finances, as, for the main, they will be provided by the private sector. To enhance future growth prospects, it will be important to maintain and extend the fishing quota regime in the face of legal threats and to increase competitive forces, especially in the telecommunications industry.
Topic:
Economics
Political Geography:
Europe and Iceland

55168. Environmental Trends in Transition Economies

Publication Date:
10-1999
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
The collapse of communism in Central and Eastern Europe and the subsequent disintegration of the Soviet Union brought the region's serious environmental problems to the attention of the international community. Although the countries in this vast area of the world are remarkably diverse, central economic planning had created a common pattern of environmental problems. Notable among these problems were levels of industrial pollution that, in many places, threatened human health; widespread land and water degradation (particularly in the former Soviet Union); and the persistent neglect of nuclear safety and nuclear waste management.
Topic:
Economics, Emerging Markets, and Environment
Political Geography:
Eastern Europe and Soviet Union

55169. Open Markets Matter: The Benefits of Trade and Investment Liberalisation

Publication Date:
10-1999
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
Never before have so many countries at such different levels of development been involved in so much activity aimed at progressively rolling back obstacles to freer trade and investment. Yet, paradoxically, at no time during the post-war period has the prospect of further liberalisation generated so much public anxiety, not least within those countries that built much of their prosperity on a liberal trade and investment order.
Topic:
Economics, Environment, Government, International Trade and Finance, and Sovereignty

55170. Money Laundering

Publication Date:
07-1999
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
The goal of a large number of criminal acts is to generate a profit for the individual or group that carries out the act. Money laundering is the processing of these criminal proceeds to disguise their illegal origin. This process is of critical importance, as it enables the criminal to enjoy these profits without jeopardising their source.
Topic:
Security, Economics, and International Trade and Finance

55171. OECD Economic Projections

Publication Date:
06-1999
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
Twice a year, in June and December, the OECD publishes its Economic Outlook (EO), which contains projections for a number of key economic variables over a two to two and a half-year horizon.
Topic:
Economics and International Trade and Finance

55172. Start the Trade and Labor Dialogue

Author:
David Weiner
Publication Date:
11-1999
Content Type:
Policy Brief
Institution:
Overseas Development Council
Abstract:
The debate over trade and labor standards is one of the most divisive in relations between industrial and developing countries. Concern about the impact of trade on workers is undermining support for trade liberalization worldwide.
Topic:
Environment, International Organization, International Trade and Finance, and World Trade Organization
Political Geography:
United States

55173. ODC Viewpoint - Don't Make Debt Relief A Burden

Author:
Kevin M. Morrison
Publication Date:
09-1999
Content Type:
Policy Brief
Institution:
Overseas Development Council
Abstract:
Kevin M. Morrison September 1999 Overseas Development Council The debate over debt relief has reached a critical phase. The pressing need to reduce the crushing debt of the highly indebted poorest countries (HIPCs) is no longer in doubt, due to the efforts of advocates in developing and developed countries. At the Cologne G7 Summit in June, the leaders of the richest countries decided to speed up and enlarge their previous debt relief initiative. Now the issue is: How are donors going to pay the bill? The G7 is exploring various means to finance the expanded initiative, and they hope to announce the plan this month during the annual meetings of the World Bank and International Monetary Fund (IMF).But there is concern that, when all is said and done, financing the initiative will cut down other resources for developing countries. Key development assistance programs might be reduced, as might developing countries' earnings from gold exports if the IMF sells some of its gold reserves to finance the relief and the price of gold drops. The point of debt relief is, as the leaders said in Cologne, "to provide a greater focus on poverty reduction by releasing resources for investment in health, education, and social needs." Thus, to provide debt relief and then reduce other resources for development makes little sense.
Topic:
Environment, International Organization, and International Trade and Finance

55174. The Future of the U.S. Foreign Assistance Program

Author:
J. Brian Atwood
Publication Date:
06-1999
Content Type:
Policy Brief
Institution:
Overseas Development Council
Abstract:
Let me begin by thanking John Sewell and ODC for sponsoring this forum. ODC has contributed so much to development thinking over the years. I could not think of a more appropriate venue for my last message to the development community as AID Administrator. One year ago, I decided it was time to bring my tenure to a close. About that time Sandy Berger asked me if I would agree to serve as Ambassador to Brazil. That decision was obviously a mistake. I lost control over my own timetable. I would probably still be waiting for a hearing if I had not withdrawn my nomination. Timetables are important when you are trying to bring closure to both a government career and a term of office. When I leave government on July 9, I will complete six years, two months and four days as AID Administrator. That is not a record, by the way, it just feels that way ! While it is natural to want to achieve a neat closure to this experience, I have concluded that there will always be unfinished business. That is what I want to talk to you about today.
Topic:
Foreign Policy, Globalization, and International Cooperation
Political Geography:
United States

55175. The New Development Cooperation Paradigm

Author:
Catherine Gwin
Publication Date:
06-1999
Content Type:
Policy Brief
Institution:
Overseas Development Council
Abstract:
Catherine Gwin June 1999 Overseas Development Council Fifteen years after the end of the Cold War, a new development cooperation paradigm is emerging. Spurred by global economic and political change, development cooperation is undergoing a fundamental redesign on three levels: 1) rationale and purpose, 2) strategy, and 3) provision of assistance.
Topic:
Development, Globalization, International Cooperation, and International Trade and Finance

55176. ODC Viewpoint - U.S. Trade Policy: Misreading the Developing World

Author:
David Weiner
Publication Date:
05-1999
Content Type:
Policy Brief
Institution:
Overseas Development Council
Abstract:
U.S. trade leadership has suffered from a contentious policy debate that has left President Clinton without new fast-track trade negotiating authority since 1994. Disagreement over the impact of commerce with developing countries on jobs and the environment is at the heart of the trade quarrel, but that quarrel misreads what is happening in developing economies and what is achievable in negotiations with them.
Topic:
Environment, International Organization, and International Trade and Finance
Political Geography:
United States

55177. The U.S. Perspective on Globalization

Author:
Stuart Eizenstat
Publication Date:
04-1999
Content Type:
Policy Brief
Institution:
Overseas Development Council
Abstract:
The Overseas Development Council was prescient in calling for an international dialogue on globalization last year. It is a particularly important time for a dialogue on the relationship between globalization and development, given new concerns raised by the global financial crisis.
Topic:
Development, Economics, Emerging Markets, Globalization, and International Trade and Finance
Political Geography:
United States

55178. Environment and Trade: A Framework for Moving Forward in the WTO

Author:
Gary P. Sampson
Publication Date:
02-1999
Content Type:
Policy Brief
Institution:
Overseas Development Council
Abstract:
Environmentalists and trade advocates have clashed frequently in recent years. Environmentalists argue that international trade rules restrict the legitimate use of trade measures to enforce environmental standards internationally and undermine environmental standards at home. Trade officials argue that trade measures are not the appropriate tools to dal with environmental problems, no is the World Trade Organization (WTO) the appropriate institution. They contend that environmentalists need to put their own house in order rather than resort to trade measures to achieve their objectives.
Topic:
Environment, International Organization, and International Trade and Finance

55179. Croatia—Post-Tudjman Politics

Author:
Oxford Analytica
Publication Date:
12-1999
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
Croatia is preparing for two elections—parliamentary polls on January 3 and, following the recent death of President Franjo Tudjman, a presidential contest on January 24. Thus, the population has an opportunity to choose real change, and to set Croatia firmly on the path of economic transformation and European integration, after a period of stilted political and economic development, marked by cronyism, under Tudjman. However, this scenario is by no means certain.
Topic:
Government and Politics
Political Geography:
United States and Eastern Europe

55180. Middle East—Renewed Peace Negotiations

Author:
Oxford Analytica
Publication Date:
12-1999
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
It was exactly 18 years ago this week that former Israeli prime minister Menachem Begin rushed from his hospital room, where he was being treated for a broken hip, descended on a surprised Knesset, and, within a few hours, forced through a bill imposing Israeli sovereignty on the Golan Heights. This same sense of urgency now animates Prime Minister Ehud Barak in his attempts to negotiate a peace agreement with Syria that will, perforce, require the abrogation of Begin's initiative.
Topic:
Conflict Resolution and Peace Studies
Political Geography:
United States, Middle East, and Palestine