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41. Carbon border adjustments, climate clubs, and subsidy races when climate policies vary

Author:
Kimberly Clausing and Catherine Wolfram
Publication Date:
05-2023
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
Jurisdictions adopt heterogeneous climate policies that vary in terms of both ambition and policy approach, with some jurisdictions pricing carbon and others subsidizing clean production. We distinguish two types of policy spillovers associated with diverse policy approaches to climate change. First, when countries have different levels of climate ambition, free riders will benefit at the expense of more committed countries. Second, when countries pursue different approaches, carbon-intensive producers within cost-imposing jurisdictions will be at a relative competitive disadvantage compared with producers in subsidizing jurisdictions. Carbon border adjustments and climate clubs are attempts to respond to these policy spillovers, but when countries have divergent policy approaches, one policy alone will not be able to address both types of spillovers. We also consider the policy dynamics that result from carbon border adjustments and climate clubs; both have the potential to encourage upward harmonization of climate policy, but they come with risks. Further, the pressures of international competition in the presence of divergent climate policy approaches may result in subsidy races, which come with their own potential risks and benefits.
Topic:
Climate Change, Economics, Carbon Emissions, and Production
Political Geography:
Global Focus

42. Saving the WTO from the national security exception

Author:
Warren Maruyama and Alan Wm. Wolff
Publication Date:
05-2023
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
For any member of the World Trade Organization (WTO) not making alternative arrangements, enforceability of the rules of the global trading system, a distinguishing feature of the WTO, ceased to exist on December 11, 2019, because the United States blocked appointments to the Appellate Body of the WTO dispute settlement mechanism. A major obstacle to the United States accepting any resolution of this impasse—thus permitting dispute settlement to once again be binding on all WTO members—is settling the issue of whether claims of national security to legitimize trade measures are reviewable. This is a red line for the United States, which argues this claim is nonreviewable. In the emerging area of great power competition, the United States is unlikely to accept a return to fully effective WTO dispute settlement absent a compromise that finds determinations of national security nonjusticiable. This paper offers a compromise: There would be no adjudication of whether a trade measure was justified under the WTO’s national security exception, but those WTO members adversely affected would have an immediate right to rebalance trade concessions themselves by imposing retaliatory trade measures against the WTO member invoking the exception.
Topic:
Economics, International Trade and Finance, National Security, and World Trade Organization
Political Geography:
Global Focus

43. From Stunt to Substance: An assessment of IMF engagement with civil society

Author:
Nabil Abdo, Nadia Daar, and Alex Ray
Publication Date:
01-2023
Content Type:
Policy Brief
Institution:
Oxfam Publishing
Abstract:
The International Monetary Fund (IMF) is doling out billions of dollars, influencing economies around the world through its finance, and through the policies it expects governments to implement in return for the funds. But who has a say in those decisions? This paper presents case study research from Pakistan, Tunisia, Egypt, Ecuador, Argentina, Zambia and Ghana to assess the extent and meaningfulness of IMF engagement with civil society. With findings on power, motivations, impact and the importance of civic space considerations, the paper makes the case for significantly improved engagement, and recommends how to do so systematically, meaningfully and safely.
Topic:
Civil Society, Economics, International Cooperation, and IMF
Political Geography:
Global Focus

44. The Future of the Digital Asset Space

Author:
Christian Catalini and Nicholas Sanzi
Publication Date:
03-2023
Content Type:
Journal Article
Journal:
Brown Journal of World Affairs
Institution:
Brown Journal of World Affairs
Abstract:
Christian Catalini is founder of the MIT Cryptoeconomics Lab, and Research Scientist at MIT. He is also the Co-Founder and Chief Strategy Officer of Lightspark. Previously, he was a co-creator of Diem (formerly Libra), Chief Economist of the Diem Association, and Head Economist of Meta FinTech. While a Professor at MIT, Christian designed the MIT Digital Currency Research Study. In 2018, Christian was appointed as a Faculty Research Fellow in the Productivity, Innovation and Entrepreneurship Program at the National Bureau of Economic Research. He holds a PhD from the University of Toronto (Rotman School of Management), and MSc (summa cum laude) in Economics and Management of New Technologies from Bocconi University, Milan.
Topic:
Economics, Cryptocurrencies, Interview, Digital Currency, and Stablecoins
Political Geography:
Global Focus

45. Global Peace Index 2023

Author:
Institute for Economics and Peace (IEP)
Publication Date:
01-2023
Content Type:
Special Report
Institution:
Institute for Economics & Peace (IEP)
Abstract:
This is the 17th edition of the Global Peace Index (GPI), which ranks 163 independent states and territories according to their level of peacefulness. Produced by the Institute for Economics and Peace (IEP), the GPI is the world’s leading measure of global peacefulness. This report presents the most comprehensive datadriven analysis to-date on trends in peace, its economic value, and how to develop peaceful societies. The GPI covers 163 countries comprising 99.7 per cent of the world’s population, using 23 qualitative and quantitative indicators from highly respected sources, and measures the state of peace across three domains: the level of Societal Safety and Security; the extent of Ongoing Domestic and International Conflict; and the degree of Militarisation. In addition to discussing the findings from the 2023 GPI, the report includes analysis of current conflicts and potential future conflicts, including an analysis of the likely economic impact of a Chinese blockade of Taiwan on the global economy. This year’s results found that the average level of global peacefulness deteriorated by 0.42 per cent. This is the thirteenth deterioration in peacefulness in the last fifteen years, with 84 countries improving and 79 deteriorating in peacefulness in 2022.
Topic:
Economics, Conflict, and Peace
Political Geography:
Global Focus

46. Global Terrorism Index 2023

Author:
Institute for Economics and Peace (IEP)
Publication Date:
03-2023
Content Type:
Working Paper
Institution:
Institute for Economics & Peace (IEP)
Abstract:
The GTI report is produced by the Institute for Economics & Peace (IEP) using data from TerrorismTracker and other sources. TerrorismTracker provides event records on terrorist attacks since 1 January 2007. The dataset contains almost 66,000 terrorist incidents for the period 2007 to 2022. In 2022, deaths from terrorism fell by nine per cent to 6,701 deaths and is now 38 per cent lower than at its peak in 2015. The fall in deaths was mirrored by a reduction in the number of incidents, with attacks declining by almost 28 per cent from 5,463 in 2021 to 3,955 in 2022. However, if Afghanistan was removed from the index, terrorism deaths would have increased by four per cent. Afghanistan remained the country most impacted by terrorism for the fourth consecutive year, despite attacks and deaths falling by 75 per cent and 58 per cent respectively. The GTI does not include acts of state repression and violence by state actors and, as such, acts committed by the Taliban are no longer included in the scope of the report since they took control of the government.
Topic:
Climate Change, Economics, Science and Technology, Terrorism, Finance, and Peace
Political Geography:
Middle East, North Africa, and Global Focus

47. Safety Perceptions Index 2023 Foundation: Understanding the impact of risk around the world

Author:
Institute for Economics and Peace (IEP)
Publication Date:
02-2023
Content Type:
Special Report
Institution:
Institute for Economics & Peace (IEP)
Abstract:
The Lloyd’s Register Foundation Safety Perceptions Index (SPI) provides a comprehensive assessment of worries and experiences of risk across 121 countries. The SPI is a unique body of work, providing a deeper understanding of citizens’ feelings of safety than any other publicly available source. The index is produced by the Institute for Economics and Peace (IEP) on the basis of data from the World Risk Poll, a global survey designed by the Lloyd’s Register Foundation and administered by Gallup. This is the second edition of the SPI. The report analyses two iterations of the World Risk Poll, the first conducted in 2019 and the second conducted in 2021; providing commentary, trends, and insights into these two sets of data. One of the defining features of the research is that one survey was administered prior to the onset of COVID-19 and the other was administered afterwards, allowing for an analysis of the effects of the pandemic on perceptions of risk. This report will be useful in the decades ahead as it will give insight into likely shifts in perceptions of risk for any future pandemics that may occur. The SPI measures two themes, worry about harm and recent experience of serious harm, analysing them across five domains: food and water, violent crime, severe weather, mental health, and workplace safety. These themes and domains are combined into a composite score which reflects perceptions of safety by country and region.The past several years have been characterised by rising feelings of uncertainty worldwide. Central to this shift has been the COVID-19 pandemic, which disrupted the functioning of social institutions as well as patterns of individual and collective behaviour in countless ways.1 Multiple studies have shown that the pandemic brought about increased levels of fear and anxiety across groups.2 Against this backdrop, there are two central findings of the 2023 SPI report. The first is that there were two parallel developments in people’s perceptions of safety over the last several years. On the one hand, the index showed no meaningful change in levels of worry and experience of harm in the aggregate, with an improvement of less than 0.1 percentage points recorded between 2019 and 2021. On the other hand, complementary data from the World Risk Poll points to a notable rise in generalised and non-specific feelings of fear and lack of safety throughout the world, with people becoming more fearful overall but less certain about the sources of potential threats.
Topic:
Economics, Infrastructure, Risk, Peace, Threat Perception, and Public Safety
Political Geography:
Global Focus

48. The Settlement of EEZ Fisheries Access Disputes under UNCLOS: Limitations to Jurisdiction and Compulsory Conciliation

Author:
Valentin J. Schatz
Publication Date:
08-2023
Content Type:
Journal Article
Journal:
The Goettingen Journal of International Law
Institution:
The Goettingen Journal of International Law
Abstract:
This article revisits the scope of the limitation to jurisdiction ratione materiae under Article 297(3) of the 1982 United Nations Convention on the Law of the Sea (UNCLOS) in the context of Exclusive Economic Zone (EEZ) fisheries access disputes in the light of recent jurisprudence of UNCLOS tribunals. It first provides an overview over general aspects of Article 297(3) of UNCLOS in the compulsory dispute settlement mechanism of Section 2 of Part XV of UNCLOS. Next, it briefly considers the relationship between Article 297(3) and Article 297(1) of UNCLOS in order to clarify the former limitation’s role in the complex internal logic of Article 297 of UNCLOS. Thereafter, this article addresses the sometimes-overlooked function of Article 297(3) of UNCLOS as a confirmation of jurisdiction with respect to fisheries disputes that are not related to the EEZ. It then analyzes the scope of the limitation to jurisdiction ratione materiae of Article 297(3) of UNCLOS in the context of fisheries access disputes. Next, this article examines the potential and limits of the compulsory conciliation procedure under Article 297(3)(b) and Annex V of UNCLOS with a focus on the scope of the procedural mandate and subject-matter competence of such conciliation commissions.
Topic:
Economics, International Law, and Fishing
Political Geography:
Global Focus

49. Towards an Intersectional Feminist Development Policy for Germany

Author:
Aïssa Boodhoo and Damjan Denkovski
Publication Date:
06-2023
Content Type:
Special Report
Institution:
Centre for Feminist Foreign Policy
Abstract:
In the development of Germany’s Feminist Development Policy Strategy, the Federal Ministry for Economic Cooperation and Development (BMZ) conducted a consultative process which included online consultations, a high-level conference, and civil society dialogues. While the broadest consultative process by the German government to date, the BMZ process had limitations in terms of Global South participation and language accessibility. To complement the official BMZ-led process, the Centre for Feminist Foreign Policy (CFFP) initiated a comprehensive co-creation process involving diverse feminist civil society organisations from the Global South, Germany, and other Global North countries. Guided by position papers from various perspectives, desk research, and interviews, the CFFP feminist convenings process involved over 100 feminists from diverse backgrounds, spanned over 25 countries, provided compensation to small and Global South organisations, and incorporated intersectional perspectives. The process consisted of in-person and online convenings held in multiple languages, ensuring broad accessibility. This report is a summary of the rich discussions and recommendations of feminists. It aims to influence policymakers and initiate action in shaping Germany's Feminist Development Policy. This report opens by discussing five action areas in chapter 1, which serve as comprehensive guidelines for immediate transformative action across policy areas. The second chapter discusses feminist reflections in six thematic areas: economic justice, climate justice, food sovereignty and agriculture, sexual and reproductive health and rights, protecting minority rights, and education.
Topic:
Foreign Policy, Agriculture, Climate Change, Development, Economics, Education, Minorities, Partnerships, Feminism, Reproductive Rights, Digitalization, Funding, and Food Sovereignty
Political Geography:
Germany and Global Focus

50. Exchange Rate Arrangements: Fix, Float, or Manage?

Author:
Nathaniel Cline, Carlos Schönerwald da Silva, and Matias Vernengo
Publication Date:
10-2023
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
The paper tries to provide a concise summary of the main debates on exchange rate arrangements. It a simple taxonomy of exchange rate arrangements, fixed, flexible and managed, and a brief analysis of the main debates about their advantages and disadvantages. It emphasizes the different policy objectives of mainstream and heterodox schools of thought, suggesting that they tend to be more relevant than the specific defense of one particular exchange rate arrangement. In that sense, there are divergences on their preferences within schools of thought. The paper also discusses the causes of currency crises and the role of the dollar in the international monetary system.
Topic:
Economics, Monetary Policy, Crisis Management, Exchange Rate Policy, and Currency
Political Geography:
Global Focus