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Begin New Search Topic Economic Inequality Political Geography Global Focus

11. Global Monetary Policy Divergence and the Reemergence of Global Imbalances

Author:
Daniel Gros
Publication Date:
06-2018
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
Developed economies are paying remarkably little attention to coordinating their monetary policies. This is an unavoidable consequence of the independence of central banks, which faithfully follow their purely domestic mandates except in times of crisis. As a result, global monetary policies have reached unprecedented levels of divergence. This divergence is set to widen—primarily due to differences in the relative strength of labor markets—while global current account imbalances return. Meanwhile, exchange rates have not reacted as economists expected; the dollar has weakened even as policy rates have increased. Economic tensions will likely become more disruptive the longer global imbalances go uncorrected. Likewise, the global economy will become more vulnerable to shocks. Yet by focusing on bilateral trade imbalances, the United States has mistakenly singled out China when the global imbalances between the United States and the eurozone is the more critical issue. The growing global imbalances are reflected more in the eurozone current account surplus and U.S. fiscal policy than in China’s shrinking surplus.
Topic:
International Trade and Finance, Monetary Policy, Exchange Rate Policy, and Economic Inequality
Political Geography:
Global Focus

12. From the Ground Up: A Preliminary Dialogue on the Nexus of Economic Policy, Gender and Violent Extremism

Publication Date:
09-2017
Content Type:
Special Report
Institution:
International Civil Society Action Network (ICAN)
Abstract:
Women peace practitioners and rights activists have long been concerned by decisions made at global and national levels that at the local level impact dynamics of economic exclusion, threaten social cohesion and exacerbate vulnerabilities to radicalization. Violent extremism and state responses to it place significant economic burden on societies. The members of the Women’s Alliance for Security Leadership (WASL) have consistently draw attention to this gap between policy intentions and realities on the ground. Their lived experiences of the economic dynamics in contexts affected by violent extremism, combined with desk research on the state of current policy and practice, and the multistakeholder Global Solutions Exchange (GSX)2 meeting on these issues held at the UNDP headquarters in New York in March 2017, inform the findings of this report.
Topic:
Gender Issues, Violent Extremism, Women, Economic Inequality, WPS, and Political Extremism
Political Geography:
Global Focus

13. Using Internal Evaluations to Measure Organizational Impact: A Meta-Analysis of Oxfam’s Women’s Empowerment Projects

Author:
Simone Lombardini and Kristen McCollum
Publication Date:
09-2017
Content Type:
Commentary and Analysis
Institution:
Oxfam Publishing
Abstract:
This paper presents the results of a meta-analysis examining the overall impact of women’s empowerment projects evaluated as part of Oxfam GB’s Effectiveness Reviews. Results show a positive and significant impact on the Women’s Empowerment Index and mixed results with its individual indicators. We found a statistically significant effect on opinions on women’s economic role and their ability to participate and have influence in the community. We did not find evidence of overall changes in power within the household nor with the share of household income. The meta-analysis also found statistically significant overall effects where the individual studies were too under-powered to detect impact. This paper provides an example of how using meta-analysis in the presence of a robust organizational global evaluation framework can enable evidence-based learning, organizational accountability and better programme implementation.
Topic:
Gender Issues, Women, Economic Inequality, Content Analysis, and Empowerment
Political Geography:
Global Focus

14. Researching the Killer Fact That Highlighted Global Economic Inequality

Author:
Leila Smith
Publication Date:
12-2016
Content Type:
Working Paper
Institution:
Oxfam Publishing
Abstract:
This case study of research in practice describes how in 2014 Oxfam staff researched and developed a powerful killer fact ' that the 85 richest people owned as much wealth as the poorest 3.5 billion people ' and how this triggered international media coverage, political commentary, and record-level website hits.
Topic:
Poverty, Media, Inequality, and Economic Inequality
Political Geography:
Global Focus

15. Core Support for the New Economy

Author:
Neva Goodwin
Publication Date:
06-2016
Content Type:
Working Paper
Institution:
Global Development and Environment Institute at Tufts University
Abstract:
This paper proposes an income guarantee that would be defined as compensation for household activities such as childcare, food preparation, care of elderly or ill persons in the home, maintenance of the home and of household vehicles and appliances, and household-based transportation. I will call it Core Support, or CS. The Core Support proposal is put forth as a way to achieve a number of important goals, including reduction of poverty and inequality, increased fairness and better old-age security, and improved possibilities for good child care and education. It could replace much of the burdensome and expensive apparatus of welfare and some other government programs. Rather than providing a handout, it would expressly reward and enable some of the unpaid work on which every society depends, validating these activities as legitimate labor. As described in this proposal, it could have a significant impact in healthy redefinition of gender norms. In addition, the proposed program would reduce the requirement for all members of society to take paid work, thus rebalancing power between employers and employees. By reducing the pressure to create jobs, regardless of their quality or their impact, it would make it easier to cease production of socially or environmentally harmful goods and services. However, it would create a not inconsiderable amount of new work in managing the program. Depending on whether there is too much, or too little, demand for labor in the macroeconomy, this could be desirable, or not. This idea builds on literature on Basic Income Guarantees (BIG), as well as on some work in feminist economics. The latter tends to be skeptical of BIG proposals. It is hoped that the CS proposal, by addressing intra-household allocations – a topic normally absent from BIG proposals – can respond to this skepticism by showing how a basic income system can be designed so as to promote deep cultural changes in gender norms and widen respect for those who do the essential core work of a society. If it is assumed that the CS funds depend on taxable income, then it would be necessary for the economy in which it is implemented to have a preexisting flow of money from the sale of privately produced goods and services; thus it would appear that this approach would not be feasible in poor countries. Hence, given a focus on the U.S. context, some attention will be paid to the question of how “wealthy” this country will be in coming decades. It is possible to imagine macroeconomic conditions in which people are “poor” because they lack money to buy needed goods and services that are in fact being produced in the economy. In this case the central bank could create money to be distributed in amounts that would enable local trade, benefiting both producers and households, and possibly leading to higher levels of output.
Topic:
Gender Issues, Poverty, Women, Inequality, and Economic Inequality
Political Geography:
Global Focus

16. The Rise of the World’s Poorest Countries

Author:
Steven Radelet
Publication Date:
10-2015
Content Type:
Journal Article
Journal:
Journal of Democracy
Institution:
National Endowment for Democracy
Abstract:
For more than two decades now, the majority of the world’s poorest countries have been making some of the fastest and biggest development gains in history. The momentous progress achieved since the early 1990s is unprecedented. One-billion people have been lifted out of extreme poverty, the child death rate has been cut in half, life expectancy has increased significantly, millions more girls are enrolled in school, deaths in civil wars have dropped by three-quarters, average incomes have almost doubled, food production has increased by half, and democracy has spread like never before in the world’s poorest countries, notwithstanding with many setbacks, obstacles, and imperfections along the way. Some of these gains—especially the declines in poverty and child mortality—rank among the greatest achievements in human history. Yet few people are aware that this progress is even happening.
Topic:
Poverty, Economic Inequality, Mortality, and Quality of Life
Political Geography:
Global Focus

17. On the Solvency of Nations: Are Global Imbalances Consistent with Intertemporal Budget Constraints?

Author:
Ceyhun Bora Durdu
Publication Date:
06-2009
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
Theory predicts that a nation's stochastic intertemporal budget constraint is satisfied if net foreign assets (NFA) are integrated of any finite order, or if net exports (NX) and NFA satisfy an error- correction specification with a residual integrated of any finite order. We test these conditions using data for 21 industrial and 29 emerging economies for the 1970-2004 period. The results show that, despite the large global imbalances of recent years, NFA and NX positions are consistent with external solvency. Country-specific unit root tests on NFA-GDP ratios suggest that nearly all of them are integrated of order 1. Pooled Mean Group error-correction estimation yields evidence of a statistically significant, negative response of the NX-GDP ratio to the NFA-GDP ratio that is largely homogeneous across countries.
Topic:
Debt, Budget, Global Financial Crisis, and Economic Inequality
Political Geography:
Global Focus