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131. Slower Growth

Author:
John H. Makin
Publication Date:
02-2005
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
The average forecast for 2005 U.S. growth is 3.5 percent, with some prognosticators hoping for 4 percent. This forecast is predicated upon the assumption that the economy is on a sustainable expansion path, where consumption will be supported by steady growth of employment and household incomes. The 3.5 percent growth forecast for 2005 is identical to the mean growth rate of the U.S. economy since 1947. However, there is good reason to believe that the consensus forecast is too high. This possibility has important consequences because U.S. growth must be sustained at least at average levels to avoid a sharp drop in global growth. There are no signs of higher growth in Europe and Asia. Growth in Japan is looking weaker, while Chinese growth is moderating.
Topic:
Economics, International Trade and Finance, and Political Economy
Political Geography:
United States, Japan, China, Europe, and Asia

132. The Political-Economic Conundrum: The Affinity of Economic and Political Reform in the Middle East and North Africa

Author:
Eva Bellin
Publication Date:
11-2004
Content Type:
Working Paper
Institution:
Carnegie Endowment for International Peace
Abstract:
FOR NEARLY TWO DECADES THE MIDDLE EAST AND NORTH AFRICA (MENA) has languished in economic stagnation and lassitude. At a time when the logic of market-driven reform and exportoriented growth has become nearly canonical worldwide, the MENA region has proven steadfastly unenthusiastic about reform, shutting itself out of the benefits of economic globalization and falling behind most other regions in economic development. At the same time, the MENA region has distinguished itself by spurning another worldwide trend: democratization. As democracy has spread in Latin America, Central and Eastern Europe, Asia, and sub-Saharan Africa, the Middle East has remained largely authoritarian, experiencing at most only mild liberalizing political reforms. This dual resistance to world trends is intriguing and resurrects the question of the relationship between political and economic reform. Is this dual resistance to reform coincidental? And what does this resistance say about whether and how Western policy makers and aid practitioners should try to link or sequence their efforts to promote political and economic reform in the region?
Topic:
Globalization and Political Economy
Political Geography:
Europe, Middle East, Asia, Latin America, and North Africa

133. Through Economy to Democracy and Security? An Integrated Approach to Stability in South East Europe - 7th Workshop of the Study Group "Regional Stability in South East Europe"

Author:
Frederic Labarre
Publication Date:
01-2004
Content Type:
Working Paper
Institution:
Austrian National Defence Academy
Abstract:
In contrast to the Central European transition countries, the economies of South East Europe (SEE) have been facing complex and interrelated political and economic problems. The dissolution of Yugoslavia combined with market losses, war in Bosnia and Herzegovina and Croatia, sanctions finally culminating in the Kosovo conflict were the main causes of political and economic instability in the whole region. Taking into account these factors, output recovery has been much slower in SEE than in the Central European countries. Measured in purchasing power standards, Croatia is the best performer in the region, with its GDP at about 38% of the EU average. Next comes Bulgaria (32%), whereas the respective values for Serbia and Montenegro and Albania range between 15-17%. Looking at the economic performance in the 1990-2002 period, Croatia and Romania reached almost 94% of their pre-transitional level in 2002, followed by Bulgaria and Macedonia (about 88% each). Serbia and Montenegro, the worst-affected, reached only about half of what it was in 1990. The cumulative output decline there was one of the largest among all the Central and East European countries.
Topic:
NATO, Diplomacy, Economics, Political Economy, and Regional Cooperation
Political Geography:
Europe, Bosnia, Herzegovina, Kosovo, Yugoslavia, Bulgaria, Balkans, and Romania

134. Reinvigorating European Elections: The Implications of Electing the European Commission

Author:
Julie Smith
Publication Date:
05-2004
Content Type:
Working Paper
Institution:
Chatham House
Abstract:
Europe's voters go to the polls in mid-June to elect 732 Members of the European Parliament. In the past European Parliament (EP) elections have been characterized by low turnout, with an emphasis on national rather than European issues. The evidence suggests that this year's elections will be little different despite the enlargement of the Union on 1 May.
Topic:
Civil Society, Government, Political Economy, and Politics
Political Geography:
Europe

135. China Brief, A Prisoner's Dilemma: The EU's China Arms Embargo

Author:
Willy Lam, Richard A. Bitzinger, Alexandr Nemets, and Enzio Von Pfeil
Publication Date:
06-2004
Content Type:
Policy Brief
Institution:
The Jamestown Foundation
Abstract:
In April, the European Union (EU) dodged a bullet by refusing to take up the issue of overturning its 15-year-old ban on selling arms to China. Supporters of lifting the embargo, led by France and Germany, are unlikely to abandon their quest, however, and the issue will likely come up again for review, perhaps as early as this summer. If it lifts the ban, the EU risks further damaging a transatlantic alliance already strained over Iraq and other issues, with very little likelihood that its defense industry would see much, if any, benefit.
Topic:
International Relations, Government, and Political Economy
Political Geography:
China, Europe, and Israel

136. China Brief,China's Reaction to America's Iraq Imbroglio

Author:
You Ji, Igor Rotar, Willy Lam, and Eric Teo
Publication Date:
04-2004
Content Type:
Policy Brief
Institution:
The Jamestown Foundation
Abstract:
The Chinese Communist Party (CCP) leadership has been at pains not to appear to be gloating over the American quagmire in Iraq. Yet in terms of geopolitical calculus, there is little doubt Beijing sees America's worsening problems in Iraq as beneficial to China's global standing, diplomatically and militarily. Capitalizing on fissures in the international community over Iraq and America's war on terror, China has strengthened ties with key members of the European Union and the United Nations in an effort to counterbalance U.S. hegemony. Meanwhile, Chinese experts' scrutiny of the exploits as well as challenges of American and Allied Forces in Iraq will have a big impact on the People's Liberation Army's (PLA) ambitious modernization drive.
Topic:
International Relations, Government, and Political Economy
Political Geography:
China, Iraq, America, Europe, Israel, and Beijing

137. Economic Survey of the Netherlands, 2004

Publication Date:
05-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
The economic downturn in the Netherlands, like the boom that preceded it, has been more marked than in most other European countries. This is partly attributable to greater exposure to international trade, especially with the US, and to greater sensitivity to international stock price movements. But there are also some structural policies – pension fund regulation, housing and wage setting institutions – that have undermined economic efficiency and contributed to the amplitude of the cycle. Furthermore there has been a marked deterioration in public finances, part of which is structural. Longer term growth trends too are unfavourable. In view of these developments, the main challenges are to reform those policies that have reduced efficiency and increased volatility, put public finances on a sustainable path, and, most importantly, increase trend growth by increasing both employment and productivity.
Topic:
Agriculture, Economics, Environment, Human Rights, International Organization, and Political Economy
Political Geography:
Europe and Netherlands

138. Longevity in Russia's Regions: Do Poverty and Low Public Health Spending Kill?

Author:
Oleksiy Ivaschenko
Publication Date:
06-2004
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
This paper examines the impact of changes in poverty and public health spending on inter-temporal variations in longevity using a unique regional-level dataset that covers 77 regions of Russia over the period 1994-2000. The dynamic panel data model is used as a tool for the empirical analysis. The model is estimated using the Arellano-Bond dynamic panel data estimator. The changes in regional levels of poverty and real per capita public health expenditure are identified to be significant determinants of the variations observed in longevity over time. The empirical results indicate that while male life expectancy responds more strongly than female life expectancy to economic circumstances, the latter appears to be more predisposed to the influence of public health spending. The results support the idea that the (positive) effect of public health spending on life expectancy is larger for those regions that experience higher incidences of poverty. The paper also finds that the financial crisis which hit Russia at the end of 1998 had a significant negative effect on longevity independently of the factors directly related to poverty and public health spending.
Topic:
Human Welfare, Political Economy, and Poverty
Political Geography:
Russia, Europe, and Asia

139. Time for More Currency Flexibility

Author:
John H. Makin
Publication Date:
12-2004
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
The last big wave of European and Japanese concern about a weak dollar came after the August 1971 breakdown of the Bretton Woods System of fixed exchange rates. At that time European countries feared inflation and, not wanting to support the dollar and thereby import U.S. inflation pressures, they accepted revaluation of their currencies with some misgivings because, as always, a weaker dollar meant more difficulty in competing with vigorous U.S. traded-goods companies.
Topic:
Economics, International Trade and Finance, and Political Economy
Political Geography:
United States and Europe

140. The Euro Through a Glass Darkly

Author:
Barry Eichengreen
Publication Date:
09-2003
Content Type:
Working Paper
Institution:
Institute of European Studies (IES), UC Berkeley
Abstract:
On January 1st, Europe's monetary union will celebrate its fifth anniversary. Congratulations are not exactly pouring in. For going on two years, growth in the countries of the Euro Area has been significantly slower than in the United States. Unemployment over much of the continent remains disturbingly high. The single currency has not been a tonic for Europe's stagnant economy. To the contrary, numerous critics complain, the advent of the euro has only compounded Europe's economic problems. This paper provides a review and analysis of the debate.
Topic:
Economics and Political Economy
Political Geography:
United States and Europe