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41. Crisis Management Mechanisms: Pathologies and Pitfalls

Author:
David A. Welch
Publication Date:
08-2014
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
As events demonstrate on a regular basis, the Asia-Pacific is a region prone to crisis. In recent years there has been a marked increase in the use of military force to signal interests or resolve, and even, in some cases, to alter the status quo, particularly in the East and South China Seas. Fortunately, none of these “mini crises” have escalated to the level of a shooting war. The received wisdom is that, all other things being equal, no country in the region desires conflict, owing to their high levels of economic interdependence. However, it is clear that in a context of rising nationalism, unresolved historical grievances and increasing hostility and suspicion, there is no reason to be complacent about the prospect of managing every future crisis successfully. Hence the recent surge in interest in crisis management “mechanisms” (CMMs). This paper explores the dangers of thinking of crisis management in an overly technical or mechanistic fashion, but also argues that sensitivity to those very dangers can be immensely useful. It draws upon US and Soviet experiences in the Cuban missile crisis to inform management of a hypothetical future Sino-American crisis in the East China Sea, and to identify general principles for designing and implementing CMMs.
Topic:
Conflict Prevention, Foreign Policy, International Security, and Political Theory
Political Geography:
United States, China, and Asia

42. Reforming the Global Architecture of Financial Regulation: The G20, the IMF and the FSB

Author:
Malcolm D. Knight
Publication Date:
09-2014
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
The global financial crisis that began in 2007 and deepened in 2008 exposed major weaknesses in financial and macroeconomic policy coordination, and profound flaws in financial risk management and regulation in a number of advanced countries. The severity of the crisis led global leaders to recognize that they must find a way to reform the global regulatory architecture to ensure that the financial system can absorb shocks while continuing to function efficiently.
Topic:
International Trade and Finance, Markets, International Monetary Fund, Financial Crisis, and Reform
Political Geography:
United States, United Kingdom, and Europe

43. Black Swans/White House: Why JFK Matters a Half Century After Dallas

Author:
James Blight and Janet M. Lang
Publication Date:
11-2013
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
On November 22, 2013, the world observes the fiftieth anniversary of JFK's assassination. As Peter Baker (2013) writes, a “quick Amazon browse” yields a staggering 140 new JFK-related book titles published in English this year alone. JFK is regularly ranked by the American public as the most popular president of the post-World War II period. But even this does not seem to adequately explain the Kennedy media blitz in 2013. The media coverage of the anniversary will surely prove in spades that, alas, people still find the circumstances of JFK's death far more interesting than the achievements of his presidency. Dallas is Graceland; JFK might as well have been Elvis. For the first quarter century or so after JFK's murder, insensitive cynics sometimes remarked that having been assassinated was a great posthumous career move. They were wrong. The bizarre and still incompletely solved assassination has focussed succeeding generations on the JFK “fluff” factor — all the hearsay and gossip involved in establishing the Kennedys as America's unofficial “royal family.” To most, Dallas was tragic because JFK and his wife and children were so beautiful, young and cool. Vanity Fair, perhaps the paradigmatic Kennedy-worshipping outlet, has recently issued a commemorative volume of nearly 200 pages, with remarkably few advertisements, of nothing but Kennedy stories. The cover delivers on its promises of “dynasty, On November 22, 2013, the world observes the fiftieth anniversary of JFK's assassination. As Peter Baker (2013) writes, a “quick Amazon browse” yields a staggering 140 new JFK-related book titles published in English this year alone. JFK is regularly ranked by the American public as the most popular president of the post-World War II period. But even this does not seem to adequately explain the Kennedy media blitz in 2013. The media coverage of the anniversary will surely prove in spades that, alas, people still find the circumstances of JFK's death far more interesting than the achievements of his presidency. Dallas is Graceland; JFK might as well have been Elvis. For the first quarter century or so after JFK's murder, insensitive cynics sometimes remarked that having been assassinated was a great posthumous career move. They were wrong. The bizarre and still incompletely solved assassination has focussed succeeding generations on the JFK “fluff” factor — all the hearsay and gossip involved in establishing the Kennedys as America's unofficial “royal family.” To most, Dallas was tragic because JFK and his wife and children were so beautiful, young and cool. Vanity Fair, perhaps the paradigmatic Kennedy-worshipping outlet, has recently issued a commemorative volume of nearly 200 pages, with remarkably few advertisements, of nothing but Kennedy stories. The cover delivers on its promises of “dynasty, glamour, power and tragedy,” cementing JFK's role as America's martyred monarch.
Topic:
Foreign Policy, Cold War, Diplomacy, and Nuclear Weapons
Political Geography:
United States

44. East Asia and the Arctic: Alaskan and American Perspectives

Author:
Jerry McBeath
Publication Date:
12-2013
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
This paper concerns the US view of East Asian nations' involvement in the Arctic, emphasizing the perspective of Alaska, the only US Arctic state. It treats six different areas of US/Alaska policy: US national strategy for the Arctic; oil and gas exploration and development; marine transportation; fisheries; investment in infrastructure; and governance. The study finds few differences between the positions of Alaska and the United States, notwithstanding often-hostile rhetoric from leaders in the United States' farthest north frontier. In general terms, both Alaska and the United States have historically sought trade and investment ties with East Asian nations. China has now replaced Japan as Alaska's major trading partner, followed by South Korea and Taiwan.
Topic:
Economics, Food, and Infrastructure
Political Geography:
United States, China, Taiwan, East Asia, South Korea, Alaska, and Arctic

45. A Markov Switching Approach to Herding

Author:
Pierre Siklos, Martin T. Bohl, and Arne C. Klein
Publication Date:
12-2013
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
Existing models of market herding suffer from several drawbacks. Measures that assume herd behaviour is constant over time or independent of the economy are not only economically unreasonable, but describe the data poorly. First, if returns are stationary, then a two-regime model is required to describe the data. Second, existing models of time-varying herding cannot be estimated from daily or weekly data, and are unable to accommodate factors that explain changes in this behaviour. To overcome these deficiencies, this paper proposes a Markov switching herding model. By means of time-varying transition probabilities, the model is able to link variations in herding behaviour to proxies for sentiment or the macroeconomic environment. The evidence for the US stock market reveals that during periods of high volatility, investors disproportionately rely on fundamentals rather than on market consensus.
Topic:
Economics, Globalization, International Trade and Finance, Markets, and Financial Crisis
Political Geography:
United States and Canada

46. Sources of Tension in the Asia-Pacific: Strategic Competition, Divided Regionalism and Non-traditional Security Challenges

Author:
James Manicom
Publication Date:
08-2013
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
There are a number of strategic challenges currently affecting the Asia-Pacific. In a period of global uncertainty, China has emerged as a confident and powerful actor, while the ability of the United States to remain the region's hegemonic power has come into question. Maritime boundary claims, regionalism and unresolved Cold War sovereignty disputes are a source of considerable uncertainty. A number of non-traditional security challenges are also emerging, including energy and food insecurity, cyber security and the threat of a climate catastrophe-related humanitarian crisis. Canada and Australia — resource-based economies with a record of bilateral and institutional engagement in the region, and important US allies — have an interest in these challenges, and in ensuring regional strategic stability that promotes economic growth.
Topic:
Development, Economics, and Governance
Political Geography:
United States, China, Canada, Israel, Australia, Australia/Pacific, and Asia-Pacific

47. Internet Governance: Inevitable Transitions

Author:
James A. Lewis
Publication Date:
10-2013
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
The current approach to Internet governance is politically untenable because it lacks legitimacy in the eyes of many new Internet users. Legitimacy is a central issue for Internet governance.
Topic:
Globalization, Science and Technology, Communications, Infrastructure, and Governance
Political Geography:
United States

48. Zero: The Surprising and Unambiguous Policy Relevance of the Cuban Missile Crisis

Author:
Janet M. Lang and James G. Blight
Publication Date:
10-2012
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
Herman Kahn was one of the most eminent nuclear strategists of the early Cold War period. He advised Presidents Eisenhower and Kennedy while working at the RAND Corporation, and also wrote one of the most controversial bestsellers of the era, Thinking about the Unthinkable. Reading it is shocking even today, as one encounters the concepts Kahn made famous, such as megadeath (a nuclear war killing tens or hundreds of millions of people); escalation dominance (threatening to blow up the world if an adversary does not relent); the doomsday machine (US-Soviet nuclear arsenals that, if used, would blow up the world, no matter what leaders might desire); and use 'em or lose 'em (striking first in a nuclear war to destroy the enemy's forces). No wonder the title role in Stanley Kubrick's black satiric film Dr. Strangelove (1964) is reportedly based on the real Herman Kahn. But Kahn himself always said he was merely being realistic, facing directly the terrifying new reality created by the existence of the ultimate weapon.
Topic:
Conflict Prevention, Arms Control and Proliferation, Nuclear Weapons, and Weapons of Mass Destruction
Political Geography:
United States and Cuba

49. Forging a New Strategic Partnership between Canada and Mexico

Author:
Perrin Beatty and Andrés Rozental
Publication Date:
11-2012
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
Both Canada and Mexico are recovering well from the global economic recession of 2008-2009, but must work harder to make their bilateral relationship work to their mutual benefit. Bilateral trade and investment have grown steadily from very low pre-North American Free Trade Agreement (NAFTA) levels, but there remains enormous, untapped potential, particularly in Mexico. Student, tourist, investor and temporary worker exchanges are enhancing familiarity with each other, but unhelpful stereotypes remain common. New investment and trade opportunities should flow from the new Mexican administration's commitment to open up the energy sector to foreign participation. The assessment and recommendations contained in this special report point to the benefit of efforts that will intensify bilateral partnerships, not only in their own right, but also in strengthening the two countries' ability to deal more effectively with the United States in pursuing matters of mutual concern.
Topic:
Economics, International Trade and Finance, Markets, and Bilateral Relations
Political Geography:
United States, Canada, Latin America, North America, and Mexico

50. A Policy Mismatch: Canada and the United States in the Asia-Pacific Region

Author:
James Manicom
Publication Date:
11-2012
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
The United States and Canada have simultaneously re- invigorated their diplomatic and military postures toward the Asia-Pacific region. As two of the world's closest allies, it is worth exploring the possible synergies and tensions between their efforts to identify areas of possible policy coordination. Canada has considerable assets that could support US diplomacy in the region, including the legacy of its good offices and its close ties with the US military; however, these assets are outweighed by three liabilities. First, Canada's diplomacy to the Asia-Pacific is driven by its desire to diversify away from the US market. Although relatively innocuous in isolation, the politics of this shift, driven by growing concern in Canada about whether the United States remains a reliable market for energy exports, adds a layer of complexity. Second, Canada's closer economic ties with China could undermine its willingness to support the United States on tough regional security issues in the Asia-Pacific. Third, and related, Canadian silence about navigational freedoms, the primary security issue between the United States and China in East Asia, has not gone unnoticed. This paper argues that, on balance, Canada may not be an ideal Pacific partner for the United States.
Topic:
Defense Policy, Arms Control and Proliferation, Diplomacy, International Trade and Finance, and Bilateral Relations
Political Geography:
United States, China, Canada, East Asia, Asia, Australia/Pacific, and Asia-Pacific