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1. Rethinking Fiscal Policy: Progressive US Politics Meets Radical Economics

Author:
Stephen Grenville
Publication Date:
07-2019
Content Type:
Commentary and Analysis
Institution:
Lowy Institute for International Policy
Abstract:
Recognition of the need for greater government intervention in the economy is increasingly shaping the US political debate, with this shift paralleled among prominent economists. The surprising success of Bernie Sanders’ 2016 presidential campaign has emboldened Democratic presidential hopefuls to advocate bold platforms involving larger government. Coincidentally, some prominent economists are advocating greater government expenditure to address ‘secular stagnation’. This is unlikely to result in a radical shift away from the post-Reagan small-government policies, but the centre of gravity has shifted towards recognising a role for more government intervention.
Topic:
Economics, Politics, Elections, and Fiscal Policy
Political Geography:
North America and United States of America

2. East Asia's Decoupling

Author:
Roland Rajah
Publication Date:
01-2019
Content Type:
Commentary and Analysis
Institution:
Lowy Institute for International Policy
Abstract:
East Asia is no longer reliant on US or Western markets to fuel its growth, giving it more room to manage amid global trade tensions. Heightened global trade tensions and the US desire to ‘decouple’ from the Chinese economy for national security reasons pose significant risks to East Asia’s export-driven growth model. However, the latest data suggests East Asia is no longer so dependent on exporting to the West, with China in particular eclipsing the United States as the leading source of ‘final demand’ for the rest of the region’s exports. This gives East Asia much greater room to manoeuvre, as regional integration is now a more viable platform for growth while US decoupling efforts will likely struggle to find traction in the region.
Topic:
Economics, International Trade and Finance, Global Markets, and Exports
Political Geography:
China, East Asia, Asia, North America, and United States of America

3. Melanesia New Voices: Investing in the Next Generation

Author:
Jenny Hayward-Jones
Publication Date:
06-2015
Content Type:
Working Paper
Institution:
Lowy Institute for International Policy
Abstract:
Melanesian countries need to better cater for their growing young populations, including through establishing youth centres and targeted programs. Prosperity and peace is achieved through embracing the dignity of Melanesian identity, which includes respecting the New Caledonian decolonisation process and acknowledging West Papuan aspirations for human rights and self-determination. Melanesian countries are making good use of technological innovation, but infrastructure gaps and limited access to finance constrain the development of innovative small businesses.
Topic:
Development, Economics, Human Rights, and Infrastructure
Political Geography:
Australia/Pacific

4. The G20 Needs A Growth Strategy

Author:
Mike Callaghan
Publication Date:
02-2014
Content Type:
Policy Brief
Institution:
Lowy Institute for International Policy
Abstract:
Restoring global economic growth and creating jobs has been an objective of successive G20 summits. Australia has also made it a priority for the G20 in 2014. To achieve such an outcome requires a comprehensive and agreed growth strategy. The G20 lacks such a strategy and has failed to provide a clear and consistent message about how members can or are working together to achieve such an outcome.
Topic:
Economics, International Cooperation, International Organization, International Trade and Finance, Markets, and Labor Issues
Political Geography:
Australia

5. Northeast Asia's Turbulent Triangle: Korea-China-Japan Relations

Author:
Malcolm Cook
Publication Date:
01-2014
Content Type:
Working Paper
Institution:
Lowy Institute for International Policy
Abstract:
Northeast Asia is one of the most important crucibles of global economic and strategic change, and it is far from a stable one. The modern histories of China, Japan and South Korea were forged by Japan's colonisation of China and Korea and the Korean War that divided the peninsula and saw China on the side of North Korea and Japan on the side of South Korea. This recent history has left the bilateral relations on each side of this turbulent triangle strained by a lack of trust, popular antipathy and unresolved territorial disputes. As noted in the project's Beijing workshop, the stalled trilateral free trade agreement negotiations between the three Northeast Asian neighbours, launched with great hope in 1997, have been the victim of this turbulence and strain.
Topic:
International Relations, Economics, Human Rights, Bilateral Relations, and Territorial Disputes
Political Geography:
Japan, China, Asia, and North America

6. Playbook for the Brisbane G20 summit

Author:
Mike Callaghan
Publication Date:
10-2013
Content Type:
Working Paper
Institution:
Lowy Institute for International Policy
Abstract:
It is important that the Brisbane G20 Leaders' Summit be a success. It must help 'reenergise' the G20, because the world needs an effective G20. But there is more at stake for Australia. If the G20 is not effective, any alternative forum for international economic cooperation would likely exclude Australia.
Topic:
Climate Change, Development, Economics, International Cooperation, and International Trade and Finance
Political Geography:
Australia

7. Tax, Infrastructure, Anti-Corruption, Energy and the G20

Author:
Stephen Grenville, Mike Callaghan, Hugh Jorgensen, Marty Harris, Daniela Strube, Maria Monica Wihardja, and Philip Anderson
Publication Date:
10-2013
Content Type:
Working Paper
Institution:
Lowy Institute for International Policy
Abstract:
This issue of the Monitor deals with four topics: long-term financing for investment, combating tax evasion and avoidance, fighting corruption and global energy governance. Consistent with the approach taken in previous issues of the Monitor, the question explored within each topic is 'how can the G20 add value?'
Topic:
Climate Change, Corruption, Economics, Energy Policy, International Cooperation, International Trade and Finance, and Infrastructure
Political Geography:
Europe

8. Financial regulation and the G20

Author:
Hugh Jorgensen, Mike Callaghan, Stephen Pickford, Richard Gray, Steven Bardy, Graham Hodges, and Ross Buckley
Publication Date:
07-2013
Content Type:
Working Paper
Institution:
Lowy Institute for International Policy
Abstract:
This issue of the Monitor canvases the role of the G20 in strengthening financial regulation. It contains articles by Hugh Jorgensen (Lowy Institute), Stephen Pickford (Chatham House), Richard Gray (Westpac), myself, Steven Bardy (Australian Securities and Investment Commission), Ross Buckley (University of New South Wales) and Graham Hodges (ANZ). It also includes a summary of the discussion at a regional 'Think 20' seminar recently held at the Lowy Institute.
Topic:
Economics, International Organization, International Trade and Finance, Financial Crisis, and Reform
Political Geography:
United States and Europe

9. Trade and the G20

Author:
John Ravenhill, Mark P Thirlwell, Mike Callaghan, Peter W. Gallagher, and Brett Williams
Publication Date:
06-2013
Content Type:
Working Paper
Institution:
Lowy Institute for International Policy
Abstract:
This issue of the G20 Monitor is devoted to the topic of international trade and the role of the G20. Over the coming months, the Monitor will be covering in detail a number of issues that are, or could be, on the G20 agenda. For example, over the next few months there will be an issue on 'Financial regulation and the G20' and another on 'Development and the G20'. The question we are asking on each issue is 'where can the G20 add value?'
Topic:
Economics, International Trade and Finance, Treaties and Agreements, and Infrastructure
Political Geography:
United States, China, and Europe

10. Global fiscal adjustment and trade rebalancing

Author:
YingYing Lu, Professor Warwick McKibbin, and Andrew Stoeckel
Publication Date:
03-2012
Content Type:
Working Paper
Institution:
Lowy Institute for International Policy
Abstract:
The emergence of substantial fiscal deficits and a large build up of government debt in major advanced economies will inevitably lead to a period of fiscal consolidation in coming years. In an earlier paper, McKibbin and Stoeckel (2010) explored the effects of this fiscal adjustment in advanced economies on the global economic outlook. This paper focuses on the differences between the impacts of fiscal policy in advanced versus emerging economies. In particular, the need for more fiscal spending on infrastructure in emerging economies and the need for fiscal consolidation in advanced economies leads naturally to the question of what this asymmetric fiscal adjustment might do to global trade balances as well as global economic growth over the coming decades. The adjustment needed in both regions is substantial and the asymmetry of the adjustment implies important consequences for trade and capital flows between regions as well as asset price adjustments within and between regions.
Topic:
Debt, Economics, Emerging Markets, Globalization, Infrastructure, and Financial Crisis