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541. FDI incentives pay — politically

Author:
Nathan M. Jensen and Edmund J. Malesky
Publication Date:
06-2010
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Despite broad skepticism about the benefits of globalization, the majority of U.S. states have offered lucrative tax incentives to attract investment. The size of these incentives is generally considered too large to be welfare enhancing, and many economists are skeptical of the effectiveness of these policies. Yet despite the mounting evidence to the contrary, the incentives offered by U.S. states (and foreign countries) continue and have actually increased in their generosity over time.
Topic:
Economics, Political Economy, Politics, and Foreign Direct Investment
Political Geography:
United States

542. Foreign direct investment and U.S. national security: CFIUS under the Obama Administration

Author:
Mark E. Plotkin and David N. Fagan
Publication Date:
06-2010
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
There was considerable public scrutiny of the Obama Administration's performance in its inaugural year, but comparatively little focus on one of the Administration's key processes governing the flow of investment into the United States — namely, the Committee on Foreign Investment in the United States (CFIUS). Yet, this is a frequent question we receive from foreign investors -- has the change in the administration affected CFIUS?
Topic:
Economics, International Trade and Finance, Monetary Policy, Foreign Direct Investment, and Financial Crisis
Political Geography:
United States

543. The United States and the Rise of China: Implications for the Long Haul

Author:
Robert J. Art
Publication Date:
09-2010
Content Type:
Journal Article
Journal:
Political Science Quarterly
Institution:
Academy of Political Science
Abstract:
Today, economically wounded though it is, the United States nonetheless remains the world ʼ s most powerful state when power is measured in terms of economic and military assets. In the future, the U.S. economy will continue to grow, and the United States will remain the most powerful military nation on earth for some time to come. However, America ʼ s economic and military edge relative to the world ʼ s other great powers, will inevitably diminish over the next several decades.
Topic:
Economics
Political Geography:
United States and China

544. Hydraulic Pressures: Into the Age of Water Security

Author:
James E. Nickum
Publication Date:
09-2010
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
No abstract is available.
Topic:
Security, Development, and Economics
Political Geography:
United States, Mexico, and Southeast Asia

545. Pakistan\'s Roller-Coaster Economy: Tax Evasion Stifles Growth

Author:
S. Akbar Zaidi
Publication Date:
09-2010
Content Type:
Policy Brief
Institution:
Carnegie Endowment for International Peace
Abstract:
Over the last sixty years, Pakistan\'s economy has seen severe ups and downs. Once considered a model for other developing nations, Pakistan has been unable to sustain solid growth. Furthermore, a third of its population now lives below the poverty line, and its literacy rate is abysmally low. Pakistan\'s economic instability stems in large part from low government revenue resulting from the elite\'s use of tax evasions, loopholes, and exemptions. Fewer than three million of Pakistan\'s 175 million citizens pay any income taxes, and the country\'s tax-to-GDP ratio is only 9 percent. Tax evasion means fewer resources are available for essential social services. Pakistan spends too much on defense and too little on development: It has spent twice as much on defense during peacetime as it has on education and health combined. The government knows how to increase its revenue through tax reform, but the rich and powerful have resisted such measures for fear of lowering their own incomes. Without sufficient revenue the government will continue to be burdened with an unsustainable debt. It needs to end tax exemptions for the wealthy and develop broader, long-term economic plans for sustain able growth. In the past, the United States and other Western nations have come to Pakistan\'s rescue by paying off debts and funding development initiatives. Pakistan\'s elite has no reason to support reform as long as these bailouts come with no conditions attached.
Topic:
Development, Economics, and Monetary Policy
Political Geography:
Pakistan and United States

546. How an Economy Grows and Why It Crashes

Author:
Daniel Wahl
Publication Date:
09-2010
Content Type:
Journal Article
Journal:
The Objective Standard
Institution:
The Objective Standard
Abstract:
Very few economists predicted an economic catastrophe in 2007. Even following the crash, many continued to claim that our present economic course was fine. As for today? “Three years into the mess, economists now offer remedies that strike most people as frankly ridiculous. We are told that we must go deeper into debt to fix our debt crisis, and that we must spend in order [to] prosper” (pp. xi–xii). The source of such seeming obliviousness, according to Peter and Andrew Schiff, is the early-20th-century economist John Maynard Keynes. According to the Schiffs, Keynes taught that governments could smooth market volatility, increase employment, boost growth, and raise living standards simply by going into more debt and printing more money. Although they grant that Keynes was smart, the Schiffs say he developed some very stupid economic ideas—ideas that are false, dangerous, and causing the collapse of America's economy. The Schiffs set out to counter these harmful ideas in How an Economy Grows and Why It Crashes. The book is an extended allegory of U.S. economic history, with supplementary discussions and illustrations. It begins with three men living on a tropical island, each subsisting on one fish per day, which he catches with his bare hands. One of the men, Able, devises a better way to catch fish: a net. Thus equipped, he hopes to catch more fish, and faster, leaving himself spare time to make new clothes. . . .
Topic:
Economics and Government
Political Geography:
United States

547. Democracy and Development in the Philippines: Triumphs and Challenges

Author:
Harry K. Thomas, Jr.
Publication Date:
09-2010
Content Type:
Journal Article
Institution:
Council of American Ambassadors
Abstract:
Since April of this year, I have had the honor of representing President Obama and the American people as Ambassador to the Republic of the Philippines, a major ally with whom the United States has an enduring partnership based on respect, shared values, and a desire for stability and prosperity. The Philippines is at a pivotal moment in its history. The election of Benigno S. “Noynoy” Aquino III, son of slain Senator Benigno “Ninoy” Aquino and his late widow, President Corazon C. Aquino, has brought fresh hope to the country for a better future, even in the face of enormous challenges. The United States strongly supports President Aquino's goals of peace, prosperity, and stability. To those ends, as Ambassador to the Philippines, my top priorities are raising awareness of the scourge of human trafficking in the Philippines, promoting business opportunity and investment, and deepening mutual understanding between the United States and my host country. I have also promoted investment in “green” sources of energy, not only to stimulate economic and job growth but also to protect the environment of this beautiful country and the world we share. My Embassy team and I are working vigorously to enhance our people-to-people ties through cultural and professional exchanges, the Peace Corps, and other programs that build mutual understanding so that we may expand our partnership in the spirit of mutual respect in the years ahead.
Topic:
Economics
Political Geography:
United States, America, and Philippines

548. Rebuilding America Through Exports

Author:
M. Osman Siddique
Publication Date:
09-2010
Content Type:
Journal Article
Institution:
Council of American Ambassadors
Abstract:
In his State of the Union address, President Obama noted his intention to double US exports to grow our economy out of this recession. As a businessman and former US Ambassador, I could not agree more. This speech must be a clarion call. Millions of Americans are jobless, many thousands have lost homes, and we all— Democrats and Republicans—see the future with great concern and anxiety. Wall Street is shaky and Main Street is miles from revival. Can we rise to the challenge posed by new major competitors like China, India, Russia, etc.? Yes we can, but we clearly need a major shift in our economic strategy and foreign commercial trade policy.
Topic:
Economics
Political Geography:
Russia, United States, China, America, and India

549. Can Donors Be Flexible within Restrictive Budget Systems? Options for Innovative Financing Mechanisms

Author:
Benjamin Leo
Publication Date:
10-2010
Content Type:
Working Paper
Institution:
Center for Global Development (CGD)
Abstract:
This paper focuses on how budgetary scorekeeping systems affect governments' ability or willingness to support innovative development finance initiatives and explores several options to overcome the restrictions the systems often impose. As a starting point, it assumes that donor governments, such as the United States, will not reform their budgetary system regulations to accommodate innovative development finance commitments due to political and budget policy concerns. In general, each option outlined entails important financial, political, and bureaucratic challenges and tradeoffs. In other words, there are no silver bullets. However, there are possible approaches that may merit further exploration by donor governments that want to support specific innovative development finance initiatives but are constrained by existing budgetary systems.
Topic:
Development, Economics, and Foreign Aid
Political Geography:
United States

550. How an Economy Grows and Why It Crashes

Author:
Daniel Wahl
Publication Date:
10-2010
Content Type:
Journal Article
Journal:
The Objective Standard
Institution:
The Objective Standard
Abstract:
Very few economists predicted an economic catastrophe in 2007. Even following the crash, many continued to claim that our present economic course was fine. As for today? “Three years into the mess, economists now offer remedies that strike most people as frankly ridiculous. We are told that we must go deeper into debt to fix our debt crisis, and that we must spend in order [to] prosper” (pp. xi–xii). The source of such seeming obliviousness, according to Peter and Andrew Schiff, is the early-20th-century economist John Maynard Keynes. According to the Schiffs, Keynes taught that governments could smooth market volatility, increase employment, boost growth, and raise living standards simply by going into more debt and printing more money. Although they grant that Keynes was smart, the Schiffs say he developed some very stupid economic ideas—ideas that are false, dangerous, and causing the collapse of America's economy. The Schiffs set out to counter these harmful ideas in How an Economy Grows and Why It Crashes. The book is an extended allegory of U.S. economic history, with supplementary discussions and illustrations. It begins with three men living on a tropical island, each subsisting on one fish per day, which he catches with his bare hands. One of the men, Able, devises a better way to catch fish: a net. Thus equipped, he hopes to catch more fish, and faster, leaving himself spare time to make new clothes.
Topic:
Economics
Political Geography:
United States