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1081. Turkey's Last Electoral Rite of Passage for a Post-Stress Democracy

Author:
Ertan Aydin
Publication Date:
10-2014
Content Type:
Journal Article
Journal:
Insight Turkey
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
Turkey's presidential election in August 2014 introduced the direct election of the president, ushering in a new era of Turkish democracy. Recep Tayyip Erdoğan's election to the Turkish presidency signals the legitimization of the AK Party's emocratic reforms over the previous twelve years. Turkish citizens' widespread participation in the election indicates a non-partisan acceptance of Turkey's democratic system, and its departure from the bureaucratic and military influence under the Kemalist system. Even the opposition parties have recognized this shift, adapting their political agendas and election strategies to appeal to the center. These developments have implications for the political future of Turkey, the Middle East, and the international community.
Topic:
Development, Economics, and Environment
Political Geography:
Turkey and Middle East

1082. Bringing the European Union Back on the Agenda of Turkish Foreign Policy

Author:
Özge Zi̇hni̇oğlu
Publication Date:
10-2014
Content Type:
Journal Article
Journal:
Insight Turkey
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
The EU has been successfully exercising its conditionality as a key aspect of its enlargement strategy since the 1990s. However, with no accession prospect in sight and the perceived lack of credibility and consistency of the EU's conditionality, Turkey's already unequal partnership with Europe has been thrown further off balance. This article argues that this is not the case, as the EU retains its leverage over Turkey, even in the absence of factors that are known as central to the successful implementation of the EU's conditionality. This article suggests two main reasons. First, despite the rhetoric on the interdependence of Turkish and the EU economy, this interdependence is not on equal footing and the Turkish economy is heavily dependent on the EU. Second, there is rising concern in Turkey over free trade talks between the EU and the United States, with its potential impact on the Turkish economy.
Topic:
Foreign Policy and Economics
Political Geography:
United States, Europe, and Turkey

1083. Democratization and Instability in Ukraine, Georgia, and Belarus

Author:
Robert Nalbandov
Publication Date:
06-2014
Content Type:
Working Paper
Institution:
The Strategic Studies Institute of the U.S. Army War College
Abstract:
This monograph analyzes the interconnections between the democratic institutionalization of the newly independent states of Ukraine, Georgia, and Belarus, their political (in)stability, and economic development and prosperity. By introducing the concept of regime mimicry into the field of public administration, this monograph extends the epistemological frameworks of the democratization school to the phenomenon of political culture. Successes and failures of the democratic institutionalization processes in these countries largely depend on the ways their institutional actors reacted to internal and external disturbances of their domestic political, econmic, and cultural environments. While Georgia's political culture revealed the highest degree of flexibility in accepting the externally-proposed institutional frameworks and practices, the bifurcate political culture in Ukraine impeded its democratic institutionalization, while the rigid political culture in Belarus completely stalled the process of institutional transformations.
Topic:
Democratization, Development, and Economics
Political Geography:
Ukraine, Asia, Georgia, and Belarus

1084. Resetting Pakistan's Relations with Afghanistan

Publication Date:
10-2014
Content Type:
Working Paper
Institution:
International Crisis Group
Abstract:
Pakistan's relations with Afghanistan have been largely characterised by mutual mistrust and devised through a narrow security prism. While it will require considerable effort to end deep-seated animosity, both countries share close ethnic, linguistic, religious and economic ties. Longstanding Afghan migration to the territories that now compose Pakistan makes them an integral part of Pakistani society. Yet, military-devised interventionist policies, based on perceived national security interests, including support for Afghan, mainly Pashtun, proxies, have marred the relationship. The incoming Afghan President Ashraf Ghani Ahmadzai has offered to expand bilateral ties, providing Islamabad fresh opportunities to improve the relationship. Prime Minister Nawaz Sharif has responded positively, but the Pakistani military and civilian leadership's preferences toward Kabul are diverging further as Afghanistan's transition draws closer. By recalibrating relations toward economic ties and seeking solutions to the presence of millions of Afghan refugees on its soil, Pakistan could engage more constructively with its neighbour.
Topic:
Conflict Resolution, Economics, Islam, and Bilateral Relations
Political Geography:
Pakistan, Afghanistan, South Asia, and Central Asia

1085. Even it Up: Time to end extreme inequality

Author:
Emma Seery and Ana Arendar
Publication Date:
10-2014
Content Type:
Working Paper
Institution:
Oxfam Publishing
Abstract:
Nthabiseng was born to a poor black family in Limpopo, a rural area in South Africa. On the same day, Pieter was born nearby in a rich suburb of Cape Town. Nthabiseng's mother had no formal schooling and her father is unemployed, whereas Pieter's parents both completed university education at Stellenbosch University and have well-paid jobs.
Topic:
Corruption, Economics, Gender Issues, and Social Stratification
Political Geography:
South Africa

1086. Should Korea Join the Trans-Pacific Partnership?

Author:
Jeffrey J. Schott and Cathleen Cimino
Publication Date:
09-2014
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
The negotiation of the Trans-Pacific Partnership (TPP), a megaregional agreement to lower barriers to trade and investment and promote economic integration in the Asia-Pacific region, has been a dynamic process with a number of countries joining the talks in midstream. Since negotiations began in March 2010, participation in the TPP talks has expanded several times to include Malaysia (October 2010), Vietnam (December 2010), Canada and Mexico (October 2012), and Japan (July 2013). In November 2013, Korea announced its interest in participating in the TPP and began consulting with the countries involved. The TPP now has 12 participants. Korea is still considering whether to become lucky 13.
Topic:
Economics, International Trade and Finance, and Bilateral Relations
Political Geography:
Malaysia, Canada, Asia, Vietnam, Korea, and Mexico

1087. Versailles Redux? Eurozone Competitiveness in a Dynamic Balassa-Samuelson-Penn Framework

Author:
Arvind Subramanian and Kevin Stahler
Publication Date:
11-2014
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
Prima facie, competitiveness adjustments in the eurozone, based on unit labor cost developments, appear sensible and in line with what the economic analyst might have predicted and the economic doctor might have ordered. But a broader and arguably better—Balassa-Samuelson-Penn (BSP)—framework for analyzing these adjustments paints a very different picture. Taking advantage of the newly released PPP-based estimates of the International Comparison Program (2011), we identify a causal BSP relationship. We apply this framework to computing more appropriate measures of real competitiveness changes in Europe and other advanced economies in the aftermath of the recent global crises. There has been a deterioration, not improvement, in competitiveness in the periphery countries between 2007 and 2013. Second, the pattern of adjustment within the eurozone has been dramatically perverse, with Germany having improved competitiveness by 9 percent and with Greece's having deteriorated by 9 percent. Third, real competitiveness changes are strongly correlated with nominal exchange rate changes, which suggests the importance of having a flexible (and preferably independent) currency for effecting external adjustments. Fourth, internal devaluation—defined as real competitiveness improvements in excess of nominal exchange rate changes—is possible but seems limited in scope and magnitude. Our results are robust to adjusting the BSP framework to take account of the special circumstances of countries experiencing unemployment. Even if we ignore the BSP effect, the broad pattern of limited and lopsided adjustment in the eurozone remains.
Topic:
Economics, Industrial Policy, International Trade and Finance, Monetary Policy, and Financial Crisis
Political Geography:
Europe

1088. Official Financial Flows, Capital Mobility, and Global Imbalances

Author:
Joseph E. Gagnon, Tamim Bayoumi, and Christian Saborowski
Publication Date:
10-2014
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
We use a cross-country panel framework to analyze the effect of net official flows (chiefly foreign exchange intervention) on current accounts. We find that net official flows have a large but plausible effect on current account balances. The estimated effects are larger with instrumental variables (42 cents to the dollar on average compared with 24 without instruments), reflecting a possible downward bias in regressions without instruments owing to an endogenous response of net official flows to private financial flows. We consistently find larger impacts of net official flows when international capital flows are restricted and smaller impacts when capital is highly mobile. A further result is that there is an important positive effect of lagged net official flows on current accounts that we believe operates through the portfolio balance channel.
Topic:
Economics, Foreign Exchange, and Monetary Policy

1089. Wages and Labor Market Slack: Making the Dual Mandate Operational

Author:
Adam S. Posen and David G. Blanchflower
Publication Date:
09-2014
Content Type:
Working Paper
Institution:
Oxfam Publishing
Abstract:
In this paper we examine the impact of rises in inactivity on wages in the US economy and find evidence of a statistically significant negative effect. These nonparticipants exert additional downward pressure on wages over and above the impact of the unemployment rate itself. This pattern holds across recent decades in the US data, and the relationship strengthens in recent years when variation in participation increases. We also examine the impact of long-term unemployment on wages and find it has no different effect from that of short-term unemployment. Our analysis provides strong empirical support, we argue, for the assessment that continuing labor market slack is a key reason for the persistent shortfall in inflation relative to the Federal Open Market Committee's (FOMC) 2 percent inflation goal. Further, we suggest our results point towards using wage inflation as an additional intermediate target for monetary policy by the FOMC.
Topic:
Economics, Markets, and Labor Issues
Political Geography:
United States and Middle East

1090. TSG IntelBrief: Removing The Islamic State from Local Economies

Publication Date:
10-2014
Content Type:
Policy Brief
Institution:
The Soufan Group
Abstract:
Like a tumor, the Islamic State (IS) feeds off the vitality of its unwilling hosts, sustaining itself from the economies of the areas it controls Efforts to deprive IS of its million-dollar-a-day revenue will be as difficult as it will be vital, since the group takes a percentage of local economic activity; hurting those economies to deprive IS of money will be counter-productive The coalition efforts to defeat IS militarily must be sufficient enough to thwart its advances while remaining targeted enough to ensure the vulnerable population doesn't unite with IS in collective suffering Destroying mobile oil refineries is an effective use of air power to deny IS more finances but it will prove less effective against destroying the percentage IS takes from everyday transactions that it calls taxes In short, the solution is to remove IS from the money, not the other way around, which only will only weaken and radicalize already struggling populations.
Topic:
Economics, Terrorism, Military Strategy, Armed Struggle, Insurgency, and Counterinsurgency
Political Geography:
Iraq and Syria