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691. The Soviet Collapse: Grain and Oil

Author:
Yegor Gaidar
Publication Date:
04-2007
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
In the summer of 2002, after the Russian government introduced the flat income tax, completed fiscal reforms, created the Stabilization Fund, and introduced land reform in Russia, I had a premonition that the window of opportunity for further reforms would be closing for a number of years. I was correct in my prediction.
Topic:
Economics, Energy Policy, and International Trade and Finance
Political Geography:
Russia, Europe, Asia, and Soviet Union

692. Is China an economic threat to Southeast Asia?

Author:
John Ravenhill
Publication Date:
05-2006
Content Type:
Working Paper
Institution:
Australian National University Department of International Relations
Abstract:
China's entry into the World Trade Organization (WTO) caused widespread concern that it would gain market share at the expense of other economies in East Asia, especially the lower-income ASEAN economies. Economic modelling done by the World Bank and others appeared to substantiate these fears; the conclusions of these studies caused further consternation among politicians and academic commentators in Southeast Asia who believed that China's success in the 1990s in attracting foreign direct investment had come at ASEAN's expense.
Topic:
Development, Economics, and World Bank
Political Geography:
China, Asia, and Southeast Asia

693. The Emergence of a New 'Socialist' Market Labour Regime in China

Author:
Gunter Schucher and Jutta Hebel
Publication Date:
12-2006
Content Type:
Working Paper
Institution:
German Institute of Global and Area Studies
Abstract:
China's transition to a market economy has been a process of basic institutional changes and institution building. The institutional change from a socialist labour regime (SLR) as one of the backbones upholding the traditional leninist system to a new 'socialist' market labour regime (SMLR) became particularly important for the success of economic and political reforms. This analysis is based on the analytical framework of regimes and makes use of the idea of path dependence. An ensemble of institutions, mutually interconnected and influencing each other, forms the regime and shapes its trajectory. Six institutions are identified to constitute the employment regime: (1) the system of social control, (2) the production system, (3) the system of industrial relations, (4) the welfare system, (5) the family order, and (6) the educational system. The SMLR is still characterised by its socialist past and differs from other varieties of transformation labour regimes and bears little resemblance to labour regimes in Western market economies.
Topic:
Development, Economics, and Markets
Political Geography:
China and Asia

694. Saving and Demographic Change: The Global Dimension

Author:
Barry Bosworth and Gabriel Chodorow-Reich
Publication Date:
11-2006
Content Type:
Working Paper
Institution:
The Brookings Institution
Abstract:
This paper uses a panel data set of 85 countries covering 1960-2005 to investigate the macroeconomic linkages between national rates of saving and investment and population aging. The issue takes on added significance because of the recent suggestion that the decline in global interest rates has been driven by demographic changes in the industrial economies. We do find a significant correlation between the age composition of the population and nations' rates of saving and investment, but the effects vary substantially by region. They are very strong for the non-industrial economies of Asia, but weak in the high-income countries. We also find evidence demographic effects on both the public and private components of national saving. Furthermore, we conclude that the demographic effects on saving will be less disruptive than sometimes believed because of offsetting declines in investment. However, the effects on saving are stronger than those for investment, implying that most aging economies will ultimately be pushed in the direction of current account deficits.
Topic:
International Relations, Demographics, and Economics
Political Geography:
Asia

695. Untangling China's Quest for Oil through State-backed Financial Deals

Author:
Erica Downs and Peter C. Evans
Publication Date:
05-2006
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
The efforts of China's national oil companies to secure upstream oil assets abroad have attracted attention from U.S. officials and policymakers. Congress has taken notice, as indicated by the request of the Chairman of the U.S. House of Representatives Resources Committee Richard W. Pombo—triggered by the bid made by China National Offshore Oil Corporation Ltd. for Unocal in 2005—for a study by the Department of Energy of the economic and national security implications of China's energy demand. The report, released in February 2006, concludes that the foreign investments of China's national oil companies do not pose an economic challenge to the U.S. However, one issue the report mentions only in passing that merits further attention is how the Chinese government's financial support for some of these investments can undermine an open and competitive world oil market.
Topic:
Security, Economics, and Energy Policy
Political Geography:
United States, China, and Asia

696. China's Social Unrest: The Story Behind the Stories

Author:
Albert Kiedel
Publication Date:
09-2006
Content Type:
Policy Brief
Institution:
Carnegie Endowment for International Peace
Abstract:
China is confronting widespread violent and even deadly social unrest, raising Communist Party alarms about national security. Some observers speculate that unrest could undermine China's national leadership, as it did in the Ukraine and the Philippines. Some U.S. policy makers might welcome unrest in China as a path to democracy and “freedom.” But rather than an opportunity to transform China's political order, China's social unrest should be understood as the unavoidable side effects—worsened by local corruption—of successful market reforms and expanded economic and social choice. Managing this unrest humanely requires accelerated reform of legal and social institutions with special attention to corruption. More violence would generate more suffering, potentially destabilizing East Asia and harming U.S. interests. The United States should encourage China to strengthen its social reconciliation capabilities, without making electoral political reform a prerequisite for intensifying engagement across the board.
Topic:
Civil Society, Development, and Economics
Political Geography:
United States, China, Ukraine, East Asia, and Asia

697. Intellectual Property Rights as a Key Obstacle to Russia's WTO Accession

Author:
Matthew Ocheltree and Sherman Katz
Publication Date:
10-2006
Content Type:
Working Paper
Institution:
Carnegie Endowment for International Peace
Abstract:
Russia has been in the process of seeking membership in the World Trade Organization (WTO) since June 1993. Currently, the United States is the only major economic power that has yet to finalize a bilateral market access agreement with the Russian Federation. Most observers of the situation concur that the enforcement of intellectual property rights laws remains, along with agriculture, one of the two major hurdles to Russian accession to the World Trade Organization.
Topic:
International Relations, Economics, and International Trade and Finance
Political Geography:
Russia, United States, Europe, and Asia

698. Pakistan: The Worsening Conflict in Balochistan

Publication Date:
09-2006
Content Type:
Working Paper
Institution:
International Crisis Group
Abstract:
President Pervez Musharraf and the military are responsible for the worsening of the conflict in Balochistan. Tensions between the government and its Baloch opposition have grown because of Islamabad's heavy-handed armed response to Baloch militancy and its refusal to negotiate demands for political and economic autonomy. The killing of Baloch leader Nawab Akbar Khan Bugti in August 2006 sparked riots and will likely lead to more confrontation. The conflict could escalate if the government insists on seeking a military solution to what is a political problem and the international community, especially the U.S., fails to recognise the price that is involved for security in neighbouring Afghanistan.
Topic:
Conflict Resolution, Economics, and Government
Political Geography:
Pakistan, Afghanistan, United States, and Asia

699. Central Asia: What Role for the European Union?

Publication Date:
04-2006
Content Type:
Working Paper
Institution:
International Crisis Group
Abstract:
The European Union is not living up to its potential as a geopolitical actor in Central Asia. The level of EU interest has been low, and Brussels is doing little to shape developments in a region that has mostly seen marked declines in its economic fortunes, political freedoms and social development in recent years but remains of considerable strategic significance. If this is to change, Europe must move away from largely unsuccessful policies, particularly the promotion of region-wide projects, and take on a more focused and active role geared to the distinct characteristics of each of the region's five states. It needs also to raise the level of its representation, spend more money and stick to its political ideals if it is to have a positive impact.
Topic:
Economics
Political Geography:
Europe, Central Asia, and Asia

700. Roaring tiger or lumbering elephant?

Author:
Mark P Thirlwell
Publication Date:
09-2006
Content Type:
Working Paper
Institution:
Lowy Institute for International Policy
Abstract:
In the past, there has been plenty of scepticism about India's economic prospects: for many, Charles De Gaulle's aphorism regarding Brazil, that it was a country with enormous potential, and always would be, seemed to apply equally well to the South Asian economy. While the 'tiger' economies of East Asia were enjoying economic take-off on the back of investment- and export-led growth, the lumbering Indian elephant seemed set to be a perpetual also-ran in the growth stakes. Yet following a series of reform efforts, first tentatively in the 1980s, and then with much more conviction in the 1990s, the Indian economic model has been transformed, and so too India's growth prospects. High profile successes in the new economy sectors of information technology (IT) and business process outsourcing (BPO), along with faster economic growth, triggered a widespread rethink regarding India's economic prospects, and a wave of foreign portfolio investment flowed into Indian markets. Perhaps India was set to be a tiger after all.
Topic:
Economics, Emerging Markets, and International Trade and Finance
Political Geography:
South Asia, India, East Asia, Asia, and Brazil