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232. Taiwan In Search of a Strategic Consensus
- Author:
- Banning Garrett, Franklin Kramer, and Jonathan M. Adams
- Publication Date:
- 03-2006
- Content Type:
- Policy Brief
- Institution:
- Atlantic Council
- Abstract:
- At the beginning of 2006, Taiwan is confronted with difficult choices that it currently seems unprepared to face. Cross-Strait tensions have diminished in the last year and Taiwan's economy has grown at an annualized rate of about 3.6 percent, which is respectable if not robust by East Asian standards. Taiwan, however, also faces an East Asian future which likely includes an increasingly important role for its relations with the Mainland as China becomes an ever more important economic and political factor regionally and globally.
- Topic:
- Foreign Policy, Economics, and International Trade and Finance
- Political Geography:
- China, Taiwan, East Asia, and Asia
233. Economic Growth and India's Future?
- Author:
- Joydeep Mukherji
- Publication Date:
- 03-2006
- Content Type:
- Working Paper
- Institution:
- Center for the Advanced Study of India
- Abstract:
- Recent optimism about India is based on the view that the country may finally be on a higher growth trajectory after more than a decade of halting economic reform. Spurred by a balance of payments crisis a decade ago that pushed the government of India to nearly defaulting on its foreign debt, a series of coalition governments have slowly deregulated the once most-regulated economy outside the communist world. Over the years, the government has enlarged the role of market forces, given more freedom to the private sector, and cut barriers to domestic and foreign competition. At the same time, India's state governments have gained considerable autonomy from the central government, making India into the federal state envisaged in its constitution.
- Topic:
- Development, Economics, and International Trade and Finance
- Political Geography:
- India, East Asia, and Asia
234. India's New Entrepreneurial Classes: The High Growth Economy and Why it is Sustainable?
- Author:
- Sunil Bharti Mittal
- Publication Date:
- 02-2006
- Content Type:
- Working Paper
- Institution:
- Center for the Advanced Study of India
- Abstract:
- I am Francine Frankel, director of the Center for the Advanced Study of India, and it is my great pleasure this evening to introduce our speaker for CASI's Annual Lecture, Sunil Bharti Mittal, the founder, chairman, and group managing director, Bharti Enterprises. I hardly need tell this audience that Bharti Tele-Ventures is India's leading telecom conglomerate and its largest mobile service operator.
- Topic:
- Development, Economics, and International Trade and Finance
- Political Geography:
- India, East Asia, and Asia
235. Les sciences sociales et le « moment colonial »: de la problématique de la domination coloniale à celle de l'hégémonie impériale
- Author:
- Romain Bertand
- Publication Date:
- 06-2006
- Content Type:
- Working Paper
- Institution:
- Centre d'Etudes et de Recherches Internationales
- Abstract:
- The idea that the colonial past keeps surfacing in contemporary political situations has been turned by some post (-) colonial theoreticians and militant writers into an irrefutable statement of fact. Yet this analytical stance is supported by little empirically grounded research. A host of creative new literature about modern age “colonial situations” indeed help us reach a better, more nuanced understanding of what colonial domination was all about. But they often fail to capture the vernacular, non-European historicity of the “colonial encounter”. In the case of Southeast Asia, local political societies were engaged in state-formation processes long before the arrival of the Europeans: In Insulindia and in Indochina, there actually existed local imperial societies, into which the European colonial order of things became embedded. Viewed from this perspective, the “colonial situation” was a moment in long-term Euro-Asiatic imperial histories that mixed together numerous and sometimes contradictory understandings of imperial power and prowess. Talking about imperial hegemonies hence might help us escape modernist analytical dead-end.
- Topic:
- Imperialism and Political Economy
- Political Geography:
- Europe, Israel, and East Asia
236. Scorecard on Corporate Governance in East Asia
- Author:
- Stephen Y.L. Cheung and Hasung Jang
- Publication Date:
- 12-2006
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- The far reaching economic effects of the 1997 Asian financial crisis underscore the importance of structural reforms in the governance of the East Asian business sector. This paper measures the progress of corporate governance reforms in nine East Asian economies towards the guidelines established by the Pacific Economic Cooperation Council (PECC), as revealed empirically through two surveys. The first survey is a stock-taking exercise to take note of on-going reforms in corporate governance rules and regulations, while the second covers perceptions of the implementation and enforcement of corporate governance rules as seen by fund managers and analysts. This study indicates a divergence between the regulatory environment and market perceptions of corporate governance practices in the countries sampled. The survey results also show that, although the nine economies do not differ significantly in the corporate governance rules and regulations they have put in place, there is a significant difference in terms of market perceptions of their corporate governance practices. More than an academic exercise, this study is meant to share the experiences of corporate governance reform among East Asian economies.
- Topic:
- Economics, Government, and Industrial Policy
- Political Geography:
- Israel, East Asia, and Asia
237. 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
238. What Is Tight Money?
- Author:
- John H. Makin
- Publication Date:
- 03-2006
- Content Type:
- Policy Brief
- Institution:
- American Enterprise Institute for Public Policy Research
- Abstract:
- Concerns over deflation have dominated monetary policy during the past several years in Japan, and also in the United States as recently as 2003. As a result, the Bank of Japan and the Federal Reserve have been highly accommodative. In Japan, this took the form of a zero interest rate. In the U.S. context, it was manifest in rates at well below normal yardsticks, such as nominal GDP growth that would call for U.S. policy interest rates close to 6 percent rather than at current levels below 5 percent. Unusually accommodative monetary policies and the substantial liquidity flows they have entailed have boosted asset values and compressed risk spreads. Consequently, demand growth has persisted at high levels for long enough to cause modestly higher inflation. The time has come for tighter monetary policy, and central banks in the United States, Europe, and Japan have all begun to apply it.
- Topic:
- Economics and International Trade and Finance
- Political Geography:
- United States, Japan, Europe, Israel, and East Asia
239. Japan Gingerly Exits Deflation
- Author:
- John H. Makin
- Publication Date:
- 02-2006
- Content Type:
- Policy Brief
- Institution:
- American Enterprise Institute for Public Policy Research
- Abstract:
- In August 2000, with the Japanese growth rate holding above 2 percent, the Bank of Japan decided to initiate an end to the zero interest rate policy that it had initiated in March 1999. This step was taken despite the existence of modest deflation, indicated by readings of minus 0.2 to minus 0.5 percent on various measures of inflation. At that time, no central bank had thought seriously about deflation as a threat since the depression of the 1930s.
- Topic:
- Development, Economics, and International Trade and Finance
- Political Geography:
- Japan, Israel, and East Asia
240. Rethinking Import-substituting Industrialization: Development Strategies and Institutions in Taiwan and China
- Author:
- Tianbiao Zhu
- Publication Date:
- 07-2006
- Content Type:
- Working Paper
- Institution:
- United Nations University
- Abstract:
- Conventional explanations of Taiwan and China's economic success point to the shift from an import-substituting industrialization (ISI) strategy to an export-oriented industrialization (EOI) strategy. This paper argues that the development strategies in Taiwan and China have always been a combination of ISI and EOI strategies during their entire miracle-creating period; far from the shift from ISI to EOI strategies, export promotion was used in both cases to sustain ISI, which has always been the central focus of development. Behind this strategy there is a set of institutions in both Taiwan and China, which has played a key role in supporting ISI, in particular, the government, the bank sector, public enterprises, and their relationship.
- Topic:
- Development and Industrial Policy
- Political Geography:
- China, Israel, Taiwan, East Asia, and Asia