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51. What Can and Cannot Be Done about Rating Agencies

Author:
Nicolas Véron
Publication Date:
11-2011
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
Credit Rating Agencies (CRAs) are prominent participants in the assessment of credit risk by financial markets. They determine and publish credit ratings, which represent the CRA's opinions on issuers' relative probability of default. The market for credit ratings is currently dominated in most western countries by three players: n Standard Poor's (S) is a division of the McGraw- Hill Companies, a US-based media group whose ownership is dispersed (the largest shareholder is Capital Group, with 12 percent of shares); n Moody's Corporation is an autonomous US-based listed company with dispersed ownership (the largest shareholder is Berkshire Hathaway, with 12.5 percent of shares); n Fitch Ratings is a division of the Fitch Group which is jointly owned by Fimalac, a Paris-based listed investment vehicle (60 percent of shares), and the US-based Hearst Corporation (40 percent of shares).
Topic:
Debt, Economics, Globalization, International Trade and Finance, and Markets
Political Geography:
United States

52. The Current Currency Situation

Author:
William R. Cline and John Williamson
Publication Date:
11-2011
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
The currency markets have been extremely disturbed for the last three months. The period witnessed a major strengthening of the US dollar in September, then the European currency crisis, a recovery of the euro when the markets believed that the crisis was being controlled, and then a rebound of the dollar. In view of these developments, those who follow currency movements need a new guide as to how the current values of currencies compare to our estimates of fundamental equilibrium exchange rates (FEERs). That is the main object of this paper.
Topic:
Economics, Globalization, International Political Economy, and Monetary Policy
Political Geography:
United States and Europe

53. A Pragmatic Ideal for Global Economic Governance Reform

Author:
Barry Herman
Publication Date:
07-2011
Content Type:
Working Paper
Institution:
The New School Graduate Program in International Affairs
Abstract:
This paper asks how the world of sovereign countries should arrange itself to address global and international economic, financial, social or environmental problems. The current system of institutions and arrangements, informally led by the Group of 20, as convoked by the United States, is hardly ideal. The paper proposes a “pragmatic” alternative with multiple checks and balances, but able to reach timely and effective decisions on the full range of international policy issues. The paper concludes noting that dissatisfaction with current arrangements has reopened intergovernmental debate; it is not the same as undertaking reform, but it is a start.
Topic:
Economics, Globalization, International Organization, and International Trade and Finance
Political Geography:
United States

54. Investment incentives and the global competition for capital

Author:
Kenneth P. Thomas
Publication Date:
12-2011
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Investment incentives (subsidies designed to affect the location of investment) are a pervasive feature of global competition for foreign direct investment (FDI). They are used by the vast majority of countries, at multiple levels of government, in a broad range of industries. They take a variety of forms, including tax holidays, grants and free land. Politicians, at least in the United States, may have good electoral incentives to use them.
Topic:
Development, Environment, Globalization, International Trade and Finance, Foreign Aid, and Foreign Direct Investment
Political Geography:
United States and Europe

55. Ungoverned Spaces: Alternatives to State Authority in an Era of Softened Sovereignty.

Author:
Miloš Dimić
Publication Date:
06-2011
Content Type:
Journal Article
Journal:
Journal of Military and Strategic Studies
Institution:
Centre for Military, Security and Strategic Studies
Abstract:
The end of the Cold War was viewed by many as a time to usher in peace and stability throughout the world. As soon became apparent, however, the global crumbling of Soviet-style communism had precipitated an unforeseen period of fragility in the international system. Ethnic conflicts started to flare up in many parts of the world and the rapid spread of globalisation started to create a wealth gap, and thus, social tensions. The rise of American unilateralism in post-Cold War international affairs, combined with the momentous globalisation of the Third World (which is sometimes seen as either a direct or indirect product of American foreign policy), had precipitated a resulting rise in anti-American sentiment throughout many parts of the world. This development was particularly evident in the Middle East and other parts of the Muslim world and ultimately culminated in the September 11 attacks on the United States.
Topic:
Cold War, Globalization, and Third World
Political Geography:
United States and Middle East

56. Needing to Have A Voice: Linguistic Grouping in the Digital Networked Environment

Author:
Han-Teng Liao
Publication Date:
07-2011
Content Type:
Working Paper
Institution:
Institute for the Study of Diplomacy, Edmund A. Walsh School of Foreign Service, Georgetown University
Abstract:
“[T]here isn't an economic internet and a social internet and a political internet; there's just the Internet,” U.S. Secretary of State Hillary Clinton said about the U.S.'s Internet freedom agenda, claiming that there should not be “walls that divide the Internet.”
Topic:
Environment, Globalization, Science and Technology, Communications, and Governance
Political Geography:
United States

57. And Ye Shall Know Your Story, and Stick to It

Author:
Anthony Olcott
Publication Date:
06-2011
Content Type:
Working Paper
Institution:
Institute for the Study of Diplomacy, Edmund A. Walsh School of Foreign Service, Georgetown University
Abstract:
An odd document tiptoed onto the stage in early April 2011, surprisingly unnoticed, considering the radical shifts in U.S. policy for which it was arguing. Called A National Strategic Narrative, the fifteen-page booklet was put out by the Woodrow Wilson Center, and claimed to be authored by “Mr. Y”—although, unlike the mysterious “Mr. X” to whom the “Mr. Y” pseudonym refers (eventually revealed to be George Kennan, author of the famous “Long Telegram” of 1946, which argued for the policy that became known as “containment”), these authors are named in the pamphlet itself—Navy Captain Wayne Porter and Marine Colonel Mark Mykleby, both special strategic assistants to Joint Chiefs of Staff Chairman Michael Mullen.
Topic:
Foreign Policy, Diplomacy, and Globalization
Political Geography:
United States

58. China's Soft Power in the Information Age: Think Again

Author:
Shanthi Kalathil
Publication Date:
05-2011
Content Type:
Working Paper
Institution:
Institute for the Study of Diplomacy, Edmund A. Walsh School of Foreign Service, Georgetown University
Abstract:
In recent years, many have argued that China has been largely successful at using soft power to bolster its rise to great power status. This essay suggests that the Chinese government—and other authoritarian states—have fundamentally misread the nature of the relationship between soft power and the globally networked, information-rich environment, thus misunderstanding how soft power is accumulated. Because of this, their efforts at deploying soft power over the long term are not likely to be as effective as conventional wisdom would make them out to be.
Topic:
Foreign Policy, Development, Diplomacy, Globalization, and Political Economy
Political Geography:
United States, China, and Israel

59. The Second Wave of Wireless Communications: A Game Changer for Global Development?

Author:
Banning Garrett and Patrick Degategno
Publication Date:
02-2011
Content Type:
Policy Brief
Institution:
Atlantic Council
Abstract:
The world is about to experience the emergence of a second wave of wireless technology. It will be a "disruptive technology" globally and could contribute to accelerating the socioeconomic development trajectories of the world's poorest countries, according to a presentation made by Jeffrey Reed of Virginia Tech and James Neel of Cognitive Radio Technologies during a workshop entitled "The Second Wave of Wireless Communication - A New Wave of Disruptive Technology."
Topic:
Development, Globalization, Science and Technology, and Communications
Political Geography:
United States

60. Where was united Africa in the climate change negotiations?

Author:
Jean-Christophe Hoste
Publication Date:
02-2010
Content Type:
Policy Brief
Institution:
EGMONT - The Royal Institute for International Relations
Abstract:
A political commitment was reached in Copenhagen between five countries: US, China, India Brazil and South Africa. The rest of the conference simply “took note of it”, most with resignation, many with anger. This policy brief will have a closer look at the climate change negotiations from an African perspective. It will try to answer three questions to see whether the outcome of the negotiations was as unacceptable as South Africa said it was. First, what was the African Common Position and what were some of their demands? Second, how did the negotiating strategy to defend the African Common Position on climate change evolve? Third, why did South Africa call the agreement it negotiated with the US, China and India unacceptable but did it not decline to be part of that deal?
Topic:
Climate Change, Environment, Globalization, International Cooperation, Politics, and Treaties and Agreements
Political Geography:
United States, China, India, South Africa, and Brazil