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3271. Merry Sisterhood or Guarded Watchfulness? Cooperation Between the International Monetary Fund and the World Bank

Author:
Michael Fabricius
Publication Date:
12-2007
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
Since their inception at the end of the Second World War, the sister organizations of the World Bank and the International Monetary Fund (IMF) have aimed to consistently speak with one voice vis-à-vis their member governments. However, anecdotal evidence suggests that they often do not speak in one voice. Fabricius draws on field research conducted in Ghana, Pakistan, Peru, and Vietnam to identify the conditions that determine whether or not the organizations are indeed on the same page and to address whether their traditional plea for consistency is always desirable. He recommends which measures seem crucial to ensure Bank-Fund consistency. At the same time he argues that under certain conditions, this consistency may lead to policy choices that are only second-best. He proposes that the Bank and the Fund pursue a case-specific approach in deciding whether they should take the same stance. A more flexible approach may increase not only the ownership of borrowing countries but also the sustainability of policy choices.
Topic:
Development, Economics, International Organization, and International Trade and Finance
Political Geography:
Pakistan, Vietnam, Peru, and Ghana

3272. Exit Polls: Refugee Assessments of North Korea's Transition

Author:
Stephan Haggard, Marcus Noland, and Yoonok Chang
Publication Date:
12-2007
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
Results from a survey of more than 1,300 North Korean refugees in China provide insight into changing economic conditions in North Korea. There is modest evidence of slightly more positive assessments among those who exited the country following the initiation of reforms in 2002. Education breeds skepticism; higher levels of education were associated with more negative perceptions of economic conditions and reform efforts. Other demographic markers such as gender or provincial origin are not robustly correlated with attitudes. Instead, personal experiences appear to be central: A significant number of the respondents were unaware of the humanitarian aid program and the ones who knew of it almost universally did not believe that they were beneficiaries. This group's evaluation of the regime, its intentions, and accomplishments is overwhelmingly negative—even more so than those of respondents who report having had experienced incarceration in political detention facilities—and attests to the powerful role that the famine experience continues to play in the political economy of the country.
Topic:
Development, Economics, and Politics
Political Geography:
China, North Korea, and Korea

3273. A (Lack of) Progress Report on China's Exchange Rate Policies

Author:
Morris Goldstein
Publication Date:
06-2007
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
This working paper assesses the progress made in improving China's exchange rate policies over the past five years (that is, since 2002). I first discuss four indicators of progress on China's external imbalance and its exchange rate policies—namely, the change in (and level of) China's global current account position, movements in the real effective exchange rate of the renminbi (RMB), the role of market forces in the determination of the RMB, and China's compliance with its obligations on exchange rate policy as a member of the International Monetary Fund (IMF). I then discuss why the lack of progress in improving China's exchange rate policies matters for the economies of the China and the United States and for the international monetary and trading system. I also argue that several popular arguments and excuses for why more cannot be accomplished on removing the large undervaluation of the RMB are unpersuasive. Finally, I consider what can and should be done by China, the United States, and the IMF to accelerate progress over the next year or two.
Topic:
Development, Economics, and Foreign Exchange
Political Geography:
United States, China, and Asia

3274. From Industrial Policy to Innovative Policy: Japan's Pursuit of Competitive Advantage

Author:
Marcus Noland
Publication Date:
05-2007
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
Japan faces significant challenges in encouraging innovation and entrepreneurship. Attempts to formally model past industrial policy interventions uniformly uncover little, if any, positive impact on productivity, growth, or welfare. The evidence indicates that most resource flows went to large, politically influential “backward” sectors, suggesting that political economy considerations may be central to the apparent ineffectiveness of Japanese industrial policy.
Topic:
Development, Foreign Exchange, and Industrial Policy
Political Geography:
Japan and Asia

3275. Offshoring, Outsourcing, and Production Relocation-Labor—Market Effects in the OECD Countries and Developing Asia

Author:
Jacob Funk Kirkegaard
Publication Date:
04-2007
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
This working paper evaluates the validity of available data on and the extent of the impact of offshoring on service-sector labor markets in the United States, EU-15, and Japan. A three-tier data validity hierarchy is identified. The impact of offshoring on employment in the three regions is found to be limited. Correspondingly, developing Asia is unlikely to experience large employment gains as a destination region. The paper highlights the case of the Indian IT industry, where the majority of job creation has been in local Indian companies rather than foreign multinationals. Domestic entrepreneurs have played a crucial role in the growth of the Indian IT-related service industry. However, increased tradability of services and associated skill bias in favor of higher skilled workers could have an uneven employment impact on developing Asia. Some high-skilled groups are benefiting and will continue to benefit dramatically from new employment opportunities and rising wage levels. Meanwhile, the same skill bias may eliminate many employment opportunities for unskilled or low-skilled groups in the region. Developing Asian countries therefore face a double educational challenge in the coming years: the need to simultaneously improve both primary and higher education.
Topic:
International Relations, Development, Economics, and Industrial Policy
Political Geography:
United States, Japan, and Asia

3276. PolicyWatch #1319: Aid to the Palestinians: The Role of Oil-Rich Arab States

Author:
Simon Henderson, David Makovsky, and Michael Makovsky
Publication Date:
12-2007
Content Type:
Policy Brief
Institution:
The Washington Institute for Near East Policy
Abstract:
On December 17, a donor conference will convene in Paris with the goal of bolstering Palestinian governance in the West Bank -- the first such meeting since the 2006 Stockholm conference. Current Middle East envoy Tony Blair has expressed optimism that the international community will support President Mahmoud Abbas and technocratic prime minister Salam Fayad. A sum of $5.6 billion is needed for the 2008-2010 period, and with the price of oil close to $100 per barrel, that target could be reached easily with contributions from the Gulf. But how much are the Gulf Arab states actually prepared to contribute to an issue that would seem to rank as one of their great political priorities?
Topic:
Development and International Cooperation
Political Geography:
Middle East and Arabia

3277. PolicyWatch #1277: Better Late than Never: Keeping USAID Funds out of Terrorist Hands

Author:
Matthew Levitt
Publication Date:
08-2007
Content Type:
Policy Brief
Institution:
The Washington Institute for Near East Policy
Abstract:
Foreign aid is an important and effective tool for buttressing allies, alleviating poverty and suffering, supporting key foreign policy objectives, and promoting the image and ideals of the United States abroad. Indeed, as its own website attests, the U.S. Agency for International Development (USAID) "plays a vital role in promoting U.S. national security, foreign policy, and the War on Terrorism." Toward these goals -- and considering that several agency-approved aid recipients have been linked to terrorist groups in recent years -- USAID's proposed new partner-vetting system (PVS) is a welcome and overdue development.
Topic:
Foreign Policy, Development, Humanitarian Aid, Terrorism, and War
Political Geography:
United States and Middle East

3278. Angolan Progress and Prospects: A Conference on Development and Reconstruction

Publication Date:
05-2007
Content Type:
Working Paper
Institution:
The Wilson Center
Abstract:
On May 9, 2007, a conference and celebration were held honoring Angola Day. The organizers and supporters were the Africa Program of the Woodrow Wilson International Center for Scholars (WWICS), the Angolan Embassy, the United States Agency for International Development (USAID) and the U.S.-Angola Chamber of Commerce, with further sponsorship by an array of Angolan and international companies. The conference sought to share progress, challenges and opportunities facing Angola, now in its fifth year of peace following a brutal 27-year civil war. The celebratory nature of the event was not limited to the reception and cultural entertainment which took place at the WWICS that day, but also reflected the social, economic and political progress in Angola over these five years. For example, panelists in the conference shared information regarding an ambitious rehabilitation program of social infrastructure, steady economic growth, stabilizing political institutions and improved security conditions. They further cited specific opportunities for partnership with the United States, through international cooperation, private investment and increased trade. Scheduled to hold their first legislative and presidential elections since the end of the civil war in 2002, Angola is poised to become “a model of post-conflict democratic transition, and has the resources—human capital and natural endowments—to be a regional and global leader in world affairs” (Jendayi Frazer, U.S. Assistant Secretary of State for African Affairs.
Topic:
Development, Government, and Regional Cooperation
Political Geography:
Africa, United States, Angola, and Khartoum

3279. Digital Poverty: Concept and Measurement, with an Application to Peru

Author:
Roxana Barrantes Cáceres
Publication Date:
03-2007
Content Type:
Working Paper
Institution:
Kellogg Institute for International Studies
Abstract:
This paper discusses the notions of demand, poverty, information needs, and information and communication technologies (ICTs) to offer a concept of digital poverty, which may be useful to estimate the digital poverty level in Latin America and the Caribbean. The paper is composed of two sections. The first section contains a conceptual discussion of digital poverty, its types and possible levels, and the underlying economic foundations. ICTs are defined based on their use and the conditions for such use. Digital poverty is therefore defined as a lack of ICTs and might be a feature of any population segment, whether or not economically poor. The second section of this paper is an empirical attempt to validate the classification, using data from a household survey (ENAHO) carried out in Peru. The limitations in measuring digital poverty at the household level instead of at the individual level are acknowledged. Lastly, the conclusions reached, possible implications for public policy, and the avenues open for further research are presented.
Topic:
Development
Political Geography:
South America, Latin America, Caribbean, and Peru

3280. Development Ethics: A Road to Peace

Author:
Adela Cortina
Publication Date:
05-2007
Content Type:
Working Paper
Institution:
Kellogg Institute for International Studies
Abstract:
Peace has to be sought through development, but not through just any form of development. From the practice of working for development an ethical reflection has gradually come about, which stresses the ethical aspects of development, without which there is no human development strictly speaking. The paper puts forward a model of development ethics which has two roots: the development ethics of Denis Goulet, who was a pioneer in this field, and the author's conception of applied ethics, which stems from a Kantian tradition and an Aristotelian tradition. The paper attempts to reveal the ethical elements of development and their significance for human development.
Topic:
Development and Peace Studies