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392. Growth and Responsibility: A Review of Business Action for Africa between the UK and German G8 Presidencies 2005-7
- Author:
- Richard Reeve
- Publication Date:
- 06-2007
- Content Type:
- Working Paper
- Institution:
- Chatham House
- Abstract:
- In March 2005 the report of the Commission for Africa called for a sea change in the way the business community engaged in the development process in Africa. The G8 Gleneagles summit that July made a series of commitments on boosting African development, while in London a new international network was launched to bring G8 and African business leaders together to build on the momentum of the Commission and the UK's dual G8 and EU presidencies. Business Action for Africa (BAA) declared its aims as: to present a clear African and international business voice to promote growth and poverty reduction; to promote more positive, balanced perceptions of Africa; and to develop and showcase good business practice.
- Topic:
- International Trade and Finance
- Political Geography:
- Africa, Russia, United States, Japan, United Kingdom, Europe, Asia, and Germany
393. Long-Term Effects of a Recession at Labor Market Entry in Japan and the United States
- Author:
- Yuji Genda, Ayako Kondo, and Souichi Ohta
- Publication Date:
- 12-2007
- Content Type:
- Working Paper
- Institution:
- Institute for Social and Economic Research and Policy at Columbia University
- Abstract:
- We examine effects of entering the labor market during a recession on subsequent earnings and employment for Japanese and American men, using comparable household labor force surveys. Previous analyses focus on search theoretic and implicit-contract arguments, which have their strongest effects on more educated workers. We argue that, in a country like Japan which has a dual labor market, there is an additional mechanism that affects mainly less educated workers. Namely, these workers are more likely to be trapped in the secondary sector if they graduate during a recession. We find a persistent, strong negative effect on earnings for less educated Japanese men, in contrast to no long-term effect for less educated American men; also, a substantial part of the effect for less educated Japanese men is attributed to the decreased probability of regular employment. The effect for the more educated group is more or less similar in both countries.
- Topic:
- Economics, International Trade and Finance, and Markets
- Political Geography:
- United States, Japan, America, Israel, and Asia
394. The Role of China in Asia: Engine, Conduit, or Steamroller?
- Author:
- Beth Anne Wilson, Jane T. Haltmaier, Shaghil Ahmed, Brahima Coulibaly, Ross Knippenberg, Sylvain Leduc, and Mario Marazzi
- Publication Date:
- 09-2007
- Content Type:
- Working Paper
- Institution:
- Board of Governors of the Federal Reserve System
- Abstract:
- This paper assesses China's role in Asia as an independent engine of growth, as a conduit of demand from the industrial countries, and as a competitor for export markets. We provide both macroeconomic and microeconomic evidence. The macroeconomic analysis focuses on the impact of U.S. and Chinese demand on the output of the Asian economies by estimating growth comovements and VARs. The results suggest an increasing role of China as an independent source of growth. The microeconomic analysis decomposes trade into basic products, parts and components, and finished goods. We find a large role for parts and components trade consistent with China playing an important and increasing role as a conduit. We also estimate some regressions that show that China's increasing presence in export markets has had a negative effect on exports of some products for some other Asian economies, but not for other products, including those of the important electronic high-technology industry.
- Topic:
- Development, Economics, International Trade and Finance, and Markets
- Political Geography:
- United States, China, and Asia
395. Exchange Rate Pass-Through to Export Prices: Assessing Some Cross-Country Evidence
- Author:
- Robert Vigfusson, Nathan Sheets, and Joseph Gagnon
- Publication Date:
- 09-2007
- Content Type:
- Working Paper
- Institution:
- Board of Governors of the Federal Reserve System
- Abstract:
- A growing body of empirical work has found evidence of a decline in exchange rate pass-through to import prices in a number of industrial countries. Our paper complements this work by examining pass-through from the other side of the transaction; that is, we assess the exchange rate sensitivity of export prices (denominated in the exporter's currency). We first sketch out a streamlined analytical model that highlights some key factors that determine pass-through. Using this model as reference, we find that the prices charged on exports to the United States are more responsive to the exchange rate than is the case for export prices to other destinations, which is consistent with results in the literature suggesting that import price pass-through in the U.S. market is relatively low. We also find that moves in the exchange rate sensitivity of export prices over time have been significantly affected by country and region-specific factors, including the Asian financial crisis (for emerging Asia), deepening integration with the United States (for Canada), and the effects of the 1992 ERM crisis (for the United Kingdom).
- Topic:
- Economics, Foreign Exchange, International Trade and Finance, and Markets
- Political Geography:
- United States, United Kingdom, Canada, and Asia
396. 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
397. 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
398. 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
399. The Doha Round after Hong Kong
- Author:
- Gary Clyde Hufbauer and Jeffrey J. Schott
- Publication Date:
- 02-2006
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics (PIIE)
- Abstract:
- Trade ministers from member countries of the World Trade Organization (WTO) convened in Hong Kong in December 2005 to jump-start the flagging Doha Round of multilateral trade negotiations. The Hong Kong ministerial was not a complete bust. But ministers accomplished only the minimum necessary to keep the Doha Round moving forward—toward an undetermined and probably distant conclusion.
- Topic:
- Development, Economics, and International Trade and Finance
- Political Geography:
- Asia
400. What Could Go Wrong?
- Author:
- Harry Harding
- Publication Date:
- 01-2006
- Content Type:
- Policy Brief
- Institution:
- Atlantic Council
- Abstract:
- China has done remarkably well in its development over the last twenty-five years. It has achieved and sustained high rates of economic growth, lifting millions out of poverty. It has achieved a significant place in the international economy. It is widely regarded as a major power, not only in Asia but also increasingly on a global stage. Looking ahead, however, things could go wrong – possibly quite seriously wrong – for China, and if China experiences serious problems, its size and its expanded role in the world mean that there could be serious consequences for the broader international community as well.
- Topic:
- Development, Economics, and International Trade and Finance
- Political Geography:
- China and Asia