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501. Asian and European Financial Crises Compared

Author:
Edwin M. Truman
Publication Date:
10-2013
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
The European and Asian financial crises are the two most recent major regional crises. This paper compares their origins and evolution. The origins of the two sets of crises were different in some respects, but broadly similar. The two sets of crises also shared similarities in their evolution, but here the differences were more significant. The European crisis countries received more external financial support, despite the fact that they involved more solvency issues while the Asian crises involved more liquidity issues. On balance, the reform programs in the European crises were less demanding and rigorous than in the Asian crises. Partly as a consequence, the negative impacts on the global economy have been larger. I draw three lessons from this analysis: First, history will repeat itself; there will be other external financial crises. Second, other countries have a stake in appropriate crisis management. Third, the IMF and other countries were mistaken in treating the European crises as individual country crises rather than as a crisis for the euro area as a whole that demanded policy conditionality on all members of the euro area.
Topic:
Economics, International Trade and Finance, International Monetary Fund, and Financial Crisis
Political Geography:
Europe and Asia

502. Education in Member State Submissions under the EU Framework for National Roma Integration Strategies

Author:
Eben Friedman
Publication Date:
12-2013
Content Type:
Working Paper
Institution:
European Centre for Minority Issues (ECMI)
Abstract:
The European Union's (EU) strategy for recovery from the economic crisis that began at the end of the first decade of the 2000s is organized around three priorities: smart growth, sustainable growth, and inclusive growth (European Commission 2010: 9). While the three types of growth are presented as mutually reinforcing, explicit attention to minorities in general and to Roma in particular comes only under the heading of inclusive growth, defined as "empowering people through high levels of employment, investing in skills, fighting poverty and modernising labour markets, training and social protection systems so as to help people anticipate and manage change, and build a cohesive society" (European Commission 2010: 17). As part of the "European Platform against Poverty" planned in the area of inclusive growth, the European Commission (EC) calls on Member States "[t]o define and implement measures addressing the specific circumstances of groups at particular risk (such as one-parentamilies, elderly women, minorities, Roma, people with a disability and the homeless" as a means of "rais[ing] awareness and recognis[ing] the fundamental rights of people experiencing poverty and social exclusion, enabling them to live in dignity and take an active part in society" (European Commission 2010: 19).
Topic:
Economics, Education, Human Rights, Governance, and Minorities
Political Geography:
Europe

503. German hard power: Is there a there there?

Author:
Patrick Keller
Publication Date:
10-2013
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
The "grand narrative" of German security policy since the end of the Cold War has oscillated between Germany's reluctance to use hard power and Germany's desire to be seen as supportive of its American and European allies. This is reflected in the varying decisions it has made during foreign military operations and in the manner in which Germany's military has conducted those operations. At the same time, the German military has undergone a series of reforms designed to modernize German forces and to make them more flexible and deployable. But a stagnant and low level of defense expenditures has made carrying out these reforms an ongoing challenge to the German military and German defense ministry. Germany has a vital interest in a stable and liberal international order and, hence, in having a military capable of helping maintain that order. As Europe's leading economic power and, increasingly, as Europe's central political actor, Germany could and should take the lead in reversing the precipitous decline in European hard power.
Topic:
Defense Policy, Economics, International Security, and Reform
Political Geography:
Africa, Europe, and Germany

504. The Ocean Community Report: Building an Aligned and Supportive Ocean Conservation Community

Publication Date:
12-2013
Content Type:
Working Paper
Institution:
Aspen Institute
Abstract:
There is no question within the ocean conservation community that the world's oceans are in peril and that the threat has been caused primarily by human activities. Skillful conservation leaders have stepped forward in the last three decades to respond to this great threat to the integrity of our oceans and the livelihoods of those who depend upon them.
Topic:
Climate Change, Development, Economics, Environment, and Food
Political Geography:
Europe

505. EU investment agreements and the search for a new balance: A paradigm shift from laissez-faireliberalism toward embedded liberalism?

Author:
Catharine Titi
Publication Date:
01-2013
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
In July 2012, in an internal document, the European Commission's Directorate-General for Trade suggested that future EU investment agreement s (EUIAs) should incorporate regulatory flexibility in the same way in which EU free trade agreements (FTAs) safeguard parties' policy space. Since it is expected that a number of treaties on the EU's negotiating agenda will be concluded in the near future, and given the policy shift that has already taken place in Canada and the US, it is time to start thinking about a new balance in a move away from investment treaties' traditional laissez-faire liberalism toward WTO law's embedded liberalism, a model whereby liberalization is embedded within a wider framework that enables public regulation in the interest of domestic stability.
Topic:
Economics, Globalization, International Trade and Finance, World Trade Organization, and Foreign Direct Investment
Political Geography:
Europe and Canada

506. The changing European defence market: Will the new European defence market legislation be a game-changer for Finland?

Author:
Harri Mikkola, Jukka Anteroinen, and Ville Lauttamäki
Publication Date:
02-2013
Content Type:
Policy Brief
Institution:
Finnish Institute of International Affairs (FIIA)
Abstract:
The European defence industrial base is transforming. The changes in the European defence market legislation, the decrease in defence materiel demand and changing defence requirements are redefining the industry in a way that has not been seen in decades. The new European legislation in particular poses serious challenges for the Finnish defence industry, including the national market opening and the diminishing possibility for offset arrangements. It is likely that the major European states are trying to protect their own defence industrial base. The future of the Finnish defence industry will be determined by whether the European market opens up in the first place, in part or in its entirety. There is no going back to the time preceding the new legislation. It is crucial for the Finnish defence industry to find and utilize new market opportunities. Networking with the European system integrators and sub-contracting chains will be of paramount importance.
Topic:
Defense Policy, Arms Control and Proliferation, Economics, and Industrial Policy
Political Geography:
Europe and Finland

507. The EEA and Norway Grants: Source of Norwegian influence or soft power?

Author:
Rieker Pernille and Tom O. Johnsen
Publication Date:
02-2013
Content Type:
Working Paper
Institution:
Norwegian Institute of International Affairs
Abstract:
For nearly 20 years, Norway has contributed financially to less wealthy EU countries. From €120 million (1994–1998) these contributions have reached nearly €1.8 billion for the period 2009–2014. What exactly does Norway get in return? Should the Grants simply be understood as an act of solidarity? Or do the financial contributions serve as a source of soft power providing increased influence in the EU? The objective of this article is not to assess whether the Grants have helped to reduce economic and social disparities, nor to explain why the Grants emerged. We focus on how and to what extent Norway has had and can have political advantage from these contributions, in relations with the EU and the beneficiary states. This article serves as a case-study examining the relation between a policy (the Grants) and soft power.
Topic:
Economics, Political Economy, Regional Cooperation, Power Politics, and Foreign Aid
Political Geography:
Europe

508. Inward FDI in Ireland and its policy context, 2012

Author:
Louis Brennan and Rakhi Verma
Publication Date:
03-2013
Content Type:
Working Paper
Institution:
Columbia Center on Sustainable Investment
Abstract:
Despite the global financial and economic crises and a sharp downturn in the domestic economy between 2008 and 2009, Ireland managed to attract large inflows of foreign direct investment (FDI) in 2010. Inward FDI (IFDI) flows in 2010 were at a similar level to those in 2009, the second highest in Ireland's FDI history. However in 2011, there was a decline in such flows. While Ireland's economy has been greatly affected by the global crisis, Irish government initiatives have further fostered the country's attractiveness as an investment location for the world's firms. All indications are that Ireland's IFDI performance will continue to surpass that of most countries into the near future.
Topic:
Economics, International Trade and Finance, Markets, and Foreign Direct Investment
Political Geography:
Europe and Ireland

509. Inward FDI in Germany and its policy context, 2012

Author:
Thomas Jost
Publication Date:
04-2013
Content Type:
Working Paper
Institution:
Columbia Center on Sustainable Investment
Abstract:
In 2011 and the first half of 2012, inward FDI (IFDI) flows to Germany continued to be relatively strong. Germany attracte market-seeking MNEs, as its economy showed remarkable economic growth despite the ongoing problems in many other countries of the Eurozone. In the second half of 2012, IFDI flows turned sharply negative, declining for the year as a whole to only US$ 7 billion, compared with US$ 49 billion in 2011. This decline reflects the difficult financial situation of many companies, including banks in the Eurozone, and could also dampen inflows in 2013. In the longer-term, Germany could profit again from rising FDI as its economy has successfully implemented reforms over the past decade, and the German Government has continued to keep its investment policy regime open.
Topic:
Economics, International Trade and Finance, Markets, and Foreign Direct Investment
Political Geography:
United States, Europe, and Germany

510. Economic and Industrial Cooperation Between France and Germany: Assessment and Future Prospects

Author:
Jean-Marc Trouille
Publication Date:
04-2013
Content Type:
Journal Article
Journal:
German Politics and Society
Institution:
German Politics and Society Journal
Abstract:
Economy and industry have traditionally been major stakes within the Franco-German relationship. This article examines French and German economic and industrial relations, and their importance for these countries' joint leadership in Europe. It investigates the level of economic interdependence and of macroeconomic convergence between the two largest Eurozone economies, industrial cooperation between French and German companies, discrepancies in their trade relations and investment flows, divergences in their respective economic and industrial policies, and the dichotomy between partnership and rivalry in their long-standing relationship. Finally, this article assesses the risk of increasing fiscal and industrial imbalance between the two economies and draws conclusions on its implications for the Franco-German entente in Europe.
Topic:
Economics
Political Geography:
Europe, France, and Germany