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54151. Wage Reform, Soft Budget Constraints and Competition

Author:
Jian Sun
Publication Date:
02-1999
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
Since the beginning of the Chinese economic reforms in 1978, there has been a series of effort to reform the labour compensation practice in state-owned enterprises to strengthen the link between pay and productivity. Despite the reforms, however, rapid increases in wage rates occurred in state-owned enterprises. Moreover, although state-owned enterprises have much lower productivity gains than non-state enterprises, they pay substantially higher wages and have faster wage growth.
Topic:
Economics, Globalization, Industrial Policy, and International Political Economy
Political Geography:
China and Asia

54152. The Asian Currency Crisis: Origins, Lessons and Future Outlook

Author:
Abdur Chowdhury
Publication Date:
02-1999
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
What started in the summer of 1997 as a regional economic and financial crisis in East and Southeast Asia had developed into a global financial crisis within the span of a year. This crisis followed the crisis in the European Monetary System in 1992–3 and the Mexican peso crisis in 1994–5. However, unlike the previous two crises, the scale and depth of the Asian crisis surprised everyone. One obvious reason for this is East and Southeast Asia's track record of economic success. Since the 1960s, no other group of countries in the world has produced more rapid economic growth or such a dramatic reduction in poverty. Given so many years of sustained economic performance the obvious question is: how could events in Asia unfold as they did?
Topic:
Economics and International Political Economy
Political Geography:
Europe, Asia, and Southeast Asia

54153. The Weightless Economy in Economic Development

Author:
Danny Quah
Publication Date:
01-1999
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
Can the increasing significance of knowledge-products in national income—the growing weightless economy—influence economic development? Those technologies reduce "distance" between consumers and knowledge production. This paper analyzes a model embodying such a reduction. The model shows how demand-side attributes—consumer attitudes on complex goods; training, education, and skills for consumption (rather than production)—can importantly affect patterns of economic growth and development. Evidence from the failed Industrial Revolution in 14th-century China illustrates the empirical relevance of the analysis.
Topic:
Development, Economics, and Science and Technology
Political Geography:
China

54154. 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

54155. 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

54156. 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

54157. 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

54158. 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

54159. 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

54160. 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