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2101. Mortgage Default Insurance in the U.S.: Implications for Russia

Author:
Raymond Struyk and Douglas E. Whiteley
Publication Date:
03-2002
Content Type:
Working Paper
Institution:
Urban Institute
Abstract:
The objective of this paper is to introduce the concept of mortgage default insurance as developed in the United States into the context of Russian mortgage lending. The first part of the paper discusses the broad principles and operations of mortgage default insurance offered by private companies as it works in the United States. The pricing of this product and the preconditions for offering such insurance are highlighted. The second section outlines the operation of the U.S. government-supported default insurance offered by the Federal Housing Administration (FHA). The final part applies the foregoing information to the situation in Russia today and concludes that the conditions necessary for launching mortgage default insurance do not currently exist in the country. Nevertheless, there are a number of essential actions that can and should be taken over the next several months to put Russia on the road to establishing such insurance in a few years. The paper finishes with a possible action plan for the next two years.
Topic:
Development, Government, and International Trade and Finance
Political Geography:
Russia, United States, Europe, and Asia

2102. Special Policy Forum Report: Toward Renewed Weapons Inspections in Iraq?

Author:
Rolf Ekeus
Publication Date:
11-2002
Content Type:
Policy Brief
Institution:
The Washington Institute for Near East Policy
Abstract:
UN Security Council Resolution (UNSCR) 1441, adopted after weeks of diplomatic aerobics, authorized renewed weapons inspections in Iraq and outlined a timetable for the inspections process, with mandatory deadlines for Iraqi compliance. UNSCR 1441's popularity is remarkable: the United States, Russia, France, and Syria all like it, and even Iraq seems somewhat amenable to its terms. This popularity may stem from the possibility that each of these countries has a different understanding of the resolution's implications. If so, the disarmament effort may eventually reach a fork in the road, with two possible paths forward.
Topic:
Security, Religion, and United Nations
Political Geography:
Russia, Iraq, Middle East, Arab Countries, and Syria

2103. Missile Defence and European Security

Author:
François Heisbourg, Klaus Becher, Alexander Pikayev, and Ivo H. Daalder
Publication Date:
05-2001
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
European NATO countries have been spectators to the debate about defending the US against ballistic missile attacks. While there have been national differences in Europe's reactions to the national missile defence (NMD) programme, it is obvious that most Europeans don't like it. The French seem somewhat more convinced than others that missile defence is inherently foolish and unworkable. Some British experts seem to insist more than others that any programme that might undermine NATO's nuclear deterrence and strategic unity should be avoided. And perhaps Germans, more than others, worry about perceived dangers to the ABM and other arms control treaties, and generally about relations with Russia. Most Europeans at present believe that US defence against long-range ballistic missiles is a slap in the face for Russia, a dangerous provocation for China and an inadequate response to the proliferation of weapons of mass destruction (WMD) and missile technology.
Topic:
Security, Defense Policy, NATO, and Terrorism
Political Geography:
Russia, United States, China, Europe, and Germany

2104. Some Paradigms for the Evolving Map of Europe

Author:
Michael Emerson
Publication Date:
04-2001
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
Two sets of opposing paradigms governing the map of Europe are struggling to predominate at the beginning of this second decade of the post-communist era. At the macro (continental) level the struggle is between the Common European Home versus the Europe of Two Empires–the enlarging European Union, and a Russia newly re-assertive towards its near abroad. At the micro (state or entity) level the struggle is between the Nationalising State versus the Europe of Fuzzy Statehood. This double competition of paradigms is most intense and sensitive in Borderland Europe around the frontiers between the two empires, or in their Overlapping Peripheries. It seems that the Europe of Two Empires has much more political energy these days than the Common European Home; and in Borderland Europe the Nationalising State has more energy than Fuzzy Statehood. However these trends should be of concern, since they point to the persistence of tensions and in the worst cases conflicts. A successful and stable Europe would need to see more of the Common European Home and of Fuzzy Statehood.
Topic:
Security, Defense Policy, NATO, and Terrorism
Political Geography:
Russia and Europe

2105. Just Good Friends? The EU-Russian "Strategic Partnership" and the Northern Dimension

Author:
Marius Vahl
Publication Date:
03-2001
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
Contrary to official claims, Russia and the European Union are not strategic partners. The economic and political asymmetries between them and the still divergent normative foundations on which their policies are based constitute considerable obstacles to strategically significant co-operation between the EU and Russia. These obstacles are likely to persist in the foreseeable future, and prevent the emergence of a real strategic partnership.
Topic:
Security, Defense Policy, NATO, and Terrorism
Political Geography:
Russia and Europe

2106. Shusha's Pivotal Role in a Nagorno-Karabagh Settlement

Author:
Elchin Amirbayov
Publication Date:
12-2001
Content Type:
Working Paper
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
Peace in Nagorno - Karabagh will demand painful compromises from both Armenia and Azerbaijan. A “winner's peace” — one that only reflects the military gains of one side — will not foster long - term resolution of the conflict. The Shusha region of Nagorno - Karabagh has special symbolic meaning for Azerbaijanis. A key element in obtaining Azerbaijani acceptance of a peace agreement is the return of the Shusha region to Azerbaijani control and the guaranteed right of internally displaced Azerbaijani persons to return to the Shusha region.
Topic:
Conflict Resolution, Security, Democratization, and Energy Policy
Political Geography:
Russia, Europe, Asia, Armenia, and Azerbaijan

2107. A Russian Reporter in Chechnya: One Experience (Event Summary)

Author:
Anna Politkovskaya
Publication Date:
11-2001
Content Type:
Working Paper
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
Anna Politkovskaya, special correspondent for Novaya Gazeta, covers the war in Chechnya, having spent two years on the ground there. In October 2001, she relocated to Vienna due to death threats she had received. Politkovskaya is presently being provided working space by the Institute of Human Sciences in Vienna.
Topic:
Conflict Resolution, Security, Democratization, and Energy Policy
Political Geography:
Russia, Europe, and Asia

2108. Transcript of speech at Kennedy School: 'Searching for Security in a Changing World'

Author:
Eduard Shevardnadze
Publication Date:
10-2001
Content Type:
Working Paper
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
As soon as I first learned that I would come to speak at Harvard, I began to prepare my remarks. Therefore, I had practically completed them when the unspeakable events happened. That unprecedented surge of evil may one day come to be regarded as an historical watershed, an infamous hallmark.
Topic:
Conflict Resolution, Security, Democratization, and Energy Policy
Political Geography:
Russia, Europe, Asia, and Georgia

2109. Caspian Energy (event summary)

Author:
Nurlan Kapparov
Publication Date:
09-2001
Content Type:
Working Paper
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
As a part of its Director's Lunch Series, the Belfer Center invited Nurlan Kapparov, former president of the National Oil Company of the Republic of Kazakhstan (KazakhOil) and former Kazak vice-minister of energy and mineral resources, to give a talk entitled "Caspian Energy." Mr. Kapparov previously represented state interests in TengizChevrOil (a Kazakh-American joint venture) and the Offshore Kazakhstan International Oil Consortium (OKIOC). He was the chairman of the board of directors of National Atomic Company KazAtomProm, as well as the head of Kazakhstan's delegation on delimitation of the Caspian Sea with the Russian Federation. Instead of dealing with the Caspian energy situation as a whole, Mr. Kapparov's talk focused primarily on the oil resources of Kazakhstan. Prior to starting his presentation, Kapparov took the time to stress that Kazakhstan was the first ex-Soviet state to promise practical support for the United States' war on terrorism, offering the country's "strategically vital aerodromes and bases for a potential strike on Afghanistan." Kapparov echoed the words of Kazakh president Nursultan Nazarbayev and said that "Kazakhstan is ready to support an action against terrorism with all the means it has at its disposal." Beginning with basic background information on Kazakhstan and the Caspian Sea, Kapparov provided projected extraction figures (both in barrels per day and billions of dollars per year) and potential transportation routes for Kazakh oil. Using the most recent data gathered for Kazakhstan's five major offshore fields (Kashagan, Aktote, Kairan, Kashagan SW, and Kalamkas A), Kapparov indicated that if these fields will be developed with primary depletion recoverable reserves would be approximately 24 billion barrels of oil. If Kazakhstan is able to successfully re-inject gas into the fields — a process that yields more oil — the country's potential recoverable reserves could climb as high as 42 billion barrels from the fields that are included in the OKIOC consortium alone. Kapparov noted that by the year 2020, this oil could bring up to $35 billion per year in income to OKIOC. The total potential oil income could increase Kazakhstan's budget to more than twenty times its current level. Kapparov also showed on the map that Kazakhstan has many other petroleum structures in its sector of the Caspian Sea. He emphasized that Kazakhstan has not yet started the licensing round on other blocks that might have the same reserves as OKIOC. Kapparov acknowledged that the shallow waters that predominate the Kazakh portion of the Caspian Sea place certain constraints on the oil extraction process. The first constraint involves environmental factors, as shallow-water extraction is more complicated than deep-water extraction. Kapparov stressed Kazakhstan's concern for the environment, describing the Caspian as "a unique ecosystem which is the habitat for hundreds of kinds of plants and animals." The second constraint has to do the weather — the Caspian freezes over for four months a year, preventing work during that time. Kapparov subsequently tried to place the importance of Caspian petroleum resources within the overall international context. He described Caspian oil as geopolitically significant, based on the assumption that more active oil production in the region would help to lessen the importance of Persian Gulf producers. This trend would enable countries such as the United States to diversify their sources of oil, providing security in an otherwise unstable field. Kapparov noted that the region's most persistent problem remains the legal status of the Caspian Sea itself. Since the countries surrounding the Caspian have not agreed on each country's jurisdiction over the seabed and its oil and gas reserves, there is still strong regional tension. Iran's recent actions against Azerbaijani-based BP ships working in the southern Caspian are only the most recent examples of this tension. Kapparov articulated the hope that the United States, which is already exerting a strong mediating influence in the region, would play a role in resolving this issue. Kapparov supports demarcation of the Caspian between Iran and former Soviet countries according to the old agreements that were signed between Iran and the USSR. Kapparov is also hoping that Kazakhstan, Russia, Azerbaijan, and Turkmenistan will work together to solve this problem among themselves as soon as possible. Kapparov then talked about the challenges involved in bringing Caspian oil to market. He described the transportation of hydrocarbons as "difficult, geopolitically sensitive, and expensive," which has led to some degree of intrigue regarding the current and proposed routes for transporting oil from the Caspian Sea. From Kazakhstan's perspective, the current pipeline capacity is sufficient, since it is only exporting 2 million barrels of oil a day. However, the country will eventually be exporting up to 7 million barrels a day. Consequently, a strategy of pursuing multiple transportation solutions makes not only sound commercial and strategic sense (since reliance on a single production route or a small group of options leaves a producer such as Kazakhstan open to too many potential constraints). It is, in fact, necessitated by the sheer quantity of the country's remaining reserves. As Kapparov candidly noted, "In Kazakhstan we say 'happiness is multiple pipelines.'" In his conclusion, Kapparov reemphasized the importance of the Caspian region to the world's energy market. Acknowledging that Kazakhstan's fate does depend on the actions of the United States and the other G7 countries, he underscored the fact that Kazakhstan is committed to "developing and implementing domestic policies to continue both our economic growth and the social welfare of our population." During the subsequent question and answer session, Michael Lelyveld of RFE/RL asked why the government of Kazakhstan insisted upon maintaining a monopoly system over the routing of oil. Kapparov replied that this system reduced paperwork, facilitated the transport of oil, and actually increased the overall amount of oil being shipped. Professor Francis Bator of the Kennedy School asked what percentage of the Kazakh national budget is derived solely from oil. Kapparov estimated the current figure to be 40 percent of the budget, but also noted that by 2020 — when oil production should be at full capacity — this number could be as high as 80 to 90 percent if other industries are not developed more extensively. However, Kapparov underscored that Kazakhstan does not want to depend solely on the oil industry. In response to a question about Kazakhstan's plan for dealing with the excess funds derived from its vast petroleum resources, Kapparov said that the country had established a separate oil fund according to the "Norway model" — whereby excess money would be placed in this fund so as not to interfere with the national economy.
Topic:
Conflict Resolution, Security, Democratization, and Energy Policy
Political Geography:
Russia, Europe, and Asia

2110. Internal and External Dimensions of the Ethnic Conflict in the Caucasus (transcript)

Author:
Kazim Azimov
Publication Date:
06-2001
Content Type:
Working Paper
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
Melissa Carr: Many of you have met Kazim Azimov. He has been here since the end of April. He is in the United States on a program called the Junior Faculty Development Program, which brings faculty members from universities in countries of the former Soviet Union and Eastern Europe to the United States to train, study, develop curriculum materials, and teach. We at Harvard are fortunate that part way through Kazim's year at the University of Hawaii, we were able to arrange for him to come join us here, in part because the University of Hawaii went on strike.
Topic:
Conflict Resolution, Security, Democratization, and Energy Policy
Political Geography:
Russia, United States, Europe, and Asia