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211. Governance Transfer by the Economic Community of West African States (ECOWAS)

Author:
Christof Hartmann
Publication Date:
02-2014
Content Type:
Working Paper
Institution:
Collaborative Research Center (SFB) 700
Abstract:
In the early 1990s, ECOWAS already committed its member states to standards of democracy and human rights. The organization developed its framework for governance transfer primarily through its 1999 and 2001 protocols in the wake of democratization processes in its member states. Overall standards are more developed in the fields of (liberal) democracy and human rights than in the rule of law and good governance. ECOWAS's instruments for protecting democracy and human rights are far-reaching, allowing for sanctions and military interventions under the so-called 'Mechanism.' By comparison, there are few instruments to actively promote governance standards beyond election observation missions. In practice, ECOWAS has generally reacted to political crises and security threats in its member states with a mixture of diplomatic interventions, fact-finding missions, and (the threat of) sanctions. These measures were mostly carried out by individual member states and only loosely linked to regional rules and procedures.
Topic:
Political Violence, Economics, Human Rights, Regional Cooperation, and Governance
Political Geography:
Africa

212. Development: Advancement through International Organizations

Author:
Rohinton Medhora and David Malone
Publication Date:
05-2014
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
The familiar world of international organizations principally devoted to development has been upended by two phenomena. First is the emergence of sustained economic success in the developing world (mostly in Asia, but increasingly also in Africa and, in a less spectacular way, Latin America) amid compelling, continuing need among the world's poor. Second, the slow-moving, serious financial and economic crisis of the industrialized world since 2008 has reordered priorities in many of their capitals toward domestic spending and away from costly international projects.
Topic:
Development, Economics, International Cooperation, International Organization, and Financial Crisis
Political Geography:
Africa, Asia, United Nations, and Latin America

213. A Cosmetic End to Madagascar's Crisis?

Publication Date:
05-2014
Content Type:
Working Paper
Institution:
International Crisis Group
Abstract:
Madagascar is on the cusp of exiting a five-year political crisis compounded by economic disorder and international isolation. Presidential elections in late 2013 were endorsed as credible following the victory of Hery Rajaonarimampianina. The return to democracy paves the way for renewed international support. However, division entrenched by former President Marc Ravalomanana's exile has polarised the country. The coup regime of Andry Rajoelina was characterised by socio-economic malaise, rampant corruption, institutional decay and the breakdown in the rule of law. The political system, which is the primary obstacle to sustained recovery, needs much more than a cosmetic makeover; fundamental reform is necessary. The African Union, Southern African Development Community and International Support Group for Madagascar must support Rajaonarimampianina's efforts to balance political interests in a marked departure from the traditional winner-take-all approach; reform and strengthening of key democratic institutions; and reform and professionalisation of the security sector.
Topic:
Security, Economics, and Politics
Political Geography:
Africa, South Africa, and Tamil Nadu

214. Zimbabwe: Waiting for the Future

Publication Date:
09-2014
Content Type:
Policy Brief
Institution:
International Crisis Group
Abstract:
The July 2013 election victory of the Zimbabwe African National Union-Patriotic Front (ZANU-PF) failed to secure broad-based legitimacy for President Robert Mugabe, provide a foundation for fixing the economy, or normalise external relations. A year on, the country faces multiple social and economic problems, spawned by endemic governance failures and compounded by a debilitating ruling party succession crisis. Both ZANU-PF and the Movement for Democratic Change-Tsvangirai (MDC-T) are embroiled in major internal power struggles that distract from addressing the corrosion of the social and economic fabric. Zimbabwe is an insolvent and failing state, its politics zero sum, its institutions hollowing out, and its once vibrant economy moribund. A major culture change is needed among political elites, as well as commitment to national as opposed to partisan and personal interests.
Topic:
Economics, Politics, and Governance
Political Geography:
Africa and Zimbabwe

215. New Report Examines East Africa and the Intergovernmental Authority on Development

Author:
Solomon Dersso
Publication Date:
10-2014
Content Type:
Working Paper
Institution:
International Peace Institute (IPI)
Abstract:
The Intergovernmental Authority on Development (IGAD), composed of Djibouti, Eritrea, Ethiopia, Kenya, Somalia, South Sudan, Sudan, and Uganda with its secretariat headquartered in Djibouti, covers northeast Africa, a region continuing to experience major changes, arguably more than any other part of the continent. This is the only region of Africa where colonially drawn borders have been redrawn. In contrast to other regions of Africa, this is also where the prospect of further redrawing of borders—with Somaliland seeking international recognition as a separate state—remains a real possibility.
Topic:
Conflict Prevention, Security, Development, Economics, Environment, Regional Cooperation, and Governance
Political Geography:
Uganda, Kenya, Africa, Sudan, Ethiopia, Somalia, and South Sudan

216. Estimates of Fundamental Equilibrium Exchange Rates, November 2014

Author:
William R. Cline
Publication Date:
11-2014
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
This semiannual review finds that most of the major international currencies, including the US dollar, euro, Japanese yen, UK pound sterling, and Chinese renminbi, remain close to their fundamental equilibrium exchange rates (FEERs). The new estimates find this result despite numerous significant exchange rate movements associated with increased volatility in international financial markets at the beginning of the fourth quarter of 2014, and despite a major reduction in the price of oil. The principal cases of exchange rate misalignment continue to be the undervalued currencies of Singapore, Taiwan, and to a lesser extent Sweden and Switzerland, and the overvalued currencies of Turkey, New Zealand, South Africa, and to a lesser extent Australia and Brazil. Even so, the medium-term current account deficit for the United States is already at the outer limit in the FEERs methodology (3 percent of GDP), and if the combination of intensified quantitative easing in Japan and the euro area with the end to quantitative easing in the United States were to cause sizable further appreciation of the dollar, an excessive US imbalance could begin to emerge.
Topic:
Economics, Foreign Exchange, International Trade and Finance, and Monetary Policy
Political Geography:
Africa, United States, Japan, Turkey, South Africa, Brazil, and New Zealand

217. African Perspectives on Sovereign Debt Restructuring

Author:
Domenico Lombardi, Skylar Brooks, and Ezra Suruma
Publication Date:
09-2014
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
On August 7 and 8, 2014, CIGI's Global Economy Program co-hosted a conference with Uganda Debt Network to discuss African perspectives on sovereign debt restructuring. The proceedings, opened by the vice president of Uganda, took place in Kampala, and featured several distinguished participants — including current and former finance ministers and central bank governors, academics and practitioners, and civil society representatives — from Uganda, Liberia, Cameroon, Ghana, Nigeria, Zambia and Zimbabwe. Participants also came from civil society organizations and intergovernmental institutions representing broader groups of African countries or the continent as a whole.
Topic:
Debt, Development, and Economics
Political Geography:
Uganda, Africa, Liberia, Zimbabwe, Nigeria, Ghana, and Cameroon

218. The rise of FDI income, and what it means for the balance of payments of developing countries

Author:
Miguel Pérez Ludeña
Publication Date:
05-2014
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Multinational enterprises (MNEs) multiplied their profits made in developing countries by four between 2002 and 2011 (at current prices). In Latin America and the Caribbean, they rose from US$20 billion in 2002 to US$113 billion in 2011. The growth rate has been even higher in Africa and China, but much lower in developed countries. This rise is explained by an increase in FDI stock in developing economies and the higher average profitability of MNEs.
Topic:
Economics, International Trade and Finance, and Foreign Direct Investment
Political Geography:
Africa, China, and Latin America

219. Uranium from Niger: A key resource of diminishing importance for France

Author:
Bruno Tertrais
Publication Date:
03-2014
Content Type:
Policy Brief
Institution:
Danish Institute for International Studies (DIIS)
Abstract:
In France, natural uranium is immediately associated with the relationship to African countries. Uranium has always fed rumours, fantasies and conspiracy theories set against the background of all the colourful stories of what is known in France as the "Françafrique"; the web of personal and economic relations between Paris and its former colonies.
Topic:
Economics, International Trade and Finance, and Nuclear Power
Political Geography:
Africa, Europe, and France

220. The Political Origins of the Africa's Economic Revival

Author:
Robert H. Bates and Steven Block
Publication Date:
04-2014
Content Type:
Working Paper
Institution:
Weatherhead Center for International Affairs, Harvard University
Abstract:
Writing in the 1990's, William Easterly and Ross Levine famously labeled Africa a "growth tragedy." Less than twenty years later, Alwyn Young noted Africa's "growth miracle," while Steven Radelet less effusively pointed to an Africa that was"emerging" and noted its rising rate of economic growth, improving levels of education and health care, and increasing levels of investment in basic infrastructure: roads, ports, and transport. In this paper, we address Africa's economic revival. In doing so, we also stress the political changes that have taken place on the continent. Once notorious for its tyrants – Jean – Bedel Bokassa, Idi Amin, and Mobutu Sese Seko, to name but three – in the 1990s, Africa joined the last wave of democratization; self-appointed heads of state were replaced by rulers chosen in competitive elections. In this paper, we assert that the two sets of changes – the one economic and the other political – go together, and that, indeed, changes in Africa political institutions lent significant impetus to its economic revival.
Topic:
Development, Economics, and Reform
Political Geography:
Africa