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7441. CIAO: Ghana — Vulnerable Economy

Author:
Caspar Fithin
Publication Date:
11-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
Government spending is increasing in the run-up to general elections next month and attempts to liberalise the cocoa trade appear half-hearted. The effectiveness of liberal economic reforms will be constrained as long as Ghana remains vulnerable to fluctuations in the prices of a narrow range of exports. Moreover, anti-corruption measures will lose their bite if they are seen to be directed in part against the government's opponents.
Topic:
Economics, Government, Politics, and Reform
Political Geography:
Africa and Ghana

7442. CIAO: International — Organic Pollutants

Author:
Caspar Fithin
Publication Date:
11-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
Delegates from 122 countries recently concluded an international agreement restricting the use of persistent organic pollutants. The agreement marks an important step towards eliminating the use of highly toxic and long-lived chemicals that do not break down easily in the environment. However, the significance of the accord extends well beyond its subject area: negotiators managed to find compromises on several issues that have bedevilled other international environmental agreements.
Topic:
Security and Environment
Political Geography:
Russia

7443. CIAO: China — Market Manipulation

Author:
Caspar Fithin
Publication Date:
11-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
A leaked Shanghai Stock Exchange report has detailed the extent of trading irregularities within China's domestic equity markets. In the primary market, a series of companies have falsified records on profits, assets and even entire businesses in order to publicly issue and list shares. In the secondary markets, insider trading, the spreading of false information, coordinated stock purchases, price ramping and sales of stocks by large institutional investors are common practice. The extent of trading irregularities reflects the government's preference for market growth over regulatory standardisation. This approach is undermining the CSRC's credibility. Unless regulatory practices are tightened, institutional investors will not have the maturing effect on markets and stabilising impact on prices the government seeks.
Topic:
Economics, Government, and Markets
Political Geography:
China

7444. CIAO: US/China — Trade Relations

Author:
Caspar Fithin
Publication Date:
10-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
US Trade Representative Charlene Barshefsky and China's Prime Minister Zhu Rongji this month held talks in Beijing to discuss China's accession to the WTO. Beyond opening up commercial opportunities to US firms, the award of permanent normal trade relations status to China, and its prospective accession to the WTO, should in theory add predictability to the bilateral trade relationship.
Topic:
International Relations, International Organization, and International Trade and Finance
Political Geography:
United States, China, and Beijing

7445. CIAO: Canada — Pre-Election Budget

Author:
Caspar Fithin
Publication Date:
10-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
Finance Minister Paul Martin announced new tax reductions in his annual economic statement this week. The mini-budget is part of the Liberal government's preparations for a general election that is expected to be called later this week. In order to secure another majority in the House of Commons, the federal Liberals will need to maintain their popularity in Ontario and increase their support in Atlantic Canada. If the Liberals fail to regain their majority, they will probably rely on the support of New Democratic legislators. If this happens, the new government would place less emphasis on tax cuts and debt reduction, and more stress on spending, than would otherwise have been the case.
Topic:
Economics, Government, and Politics
Political Geography:
Canada

7446. Iran — Investor Inhibitions

Author:
Caspar Fithin
Publication Date:
10-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
This week, the Majlis approved a government bill authorising immediate use of the 2000-01 budget surplus. The windfall surplus, largely the result of increased oil revenues, should amount to 6-10 billion dollars by the end of the fiscal year in March. It will certainly transform Iran's external finances, but its impact on the domestic economy will be less immediate, and it will do little to ease investor concerns. Khatami's efforts to attract greater foreign investment depend on reform of the judiciary and other key changes to the regulatory climate. In the meantime, continuing political turmoil will deter all but those investors prepared to take a long-term view of Iran's economic potential.
Topic:
Economics, Government, International Trade and Finance, and Politics
Political Geography:
Iran and Middle East

7447. Mexico — Overheating Arguments

Author:
Caspar Fithin
Publication Date:
10-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
The recommendation reflects a conflict between the bank and the finance ministry over whether or not the economy is overheating. Increasingly, the conflict is being fought in public circles after months of low-key clashes. The uncharacteristic rift between the monetary and fiscal authorities is likely to widen over the final two months of the Zedillo administration, as signs of overheating continue to accumulate. While pressure for a substantial fiscal adjustment is likely to be irresistible when Fox takes over on December 1, concerns are growing regarding his capacity to execute such a policy.
Topic:
Economics, Government, Political Economy, and Politics
Political Geography:
North America and Mexico

7448. Nigeria — Rapacious Corruption

Author:
Caspar Fithin
Publication Date:
09-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
Corruption deters foreign lending and investment. Except in the oil and gas sector, Nigeria's economic advantages are not sufficiently countervailing. The national reputation for corruption encourages further abuse since no one's reputation suffers through acting dishonesty. Despite reforming efforts, grand corruption is likely to persist because of the continuing large flows through official hands of unearned income from natural resources.
Topic:
Economics, Government, and International Trade and Finance
Political Geography:
Africa and Nigeria

7449. European Union — Sanctions against Austria lifted

Author:
Caspar Fithin
Publication Date:
09-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
The decision last week to lift political sanctions against Austria came as a relief to both Vienna and most of the fourteen EU member states participating in the action. Imposed in protest at the inclusion in government of the far-right Freedom Party (FPOe), the sanctions had rapidly became a source of difficulty and embarrassment. Crucially, nobody had been clear about what the precise aims were, or in what circumstances the sanctions would be suspended: there was no exit strategy for either side.
Topic:
Foreign Policy
Political Geography:
Europe, Austria, and Vienna

7450. South Africa — Mbeki Leadership

Author:
Caspar Fithin
Publication Date:
09-2000
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
Although the transition from Nelson Mandela's to Thabo Mbeki's presidency has been marked by continued political stability and conservative economic management, Mbeki's political judgement is increasingly being questioned in several key policy areas. Unless Mbeki succeeds in allaying concerns about his leadership, the stability of South Africa's present political arrangements will be undermined.
Topic:
Economics, Government, and Politics
Political Geography:
Africa and South Africa