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1891. Business and Human Rights: An Issue Whose Time Has Come

Author:
Jill Shankleman and Hannah Clayton
Publication Date:
07-2012
Content Type:
Policy Brief
Institution:
United States Institute of Peace
Abstract:
Business activities in fragile and conflict-affected regions could adversely impact the human rights of host populations in diverse ways, and could trigger or sustain violent conflict. The international “Protect, Respect and Remedy Framework on Business and Human Rights” could help businesses avoid infringing on the human rights of others and should address adverse human rights impacts when they occur. This framework would complement (and not replace) exiting initiatives like the U.N. Global Compact, IFC Performance Standards and OECD Guidelines. It provides a human rights lens that does not treat communities as 'vulnerable' or 'needy,' but as viable partners with rights. Implementation of the framework (and other voluntary standards) will always be fraught with difficulty. However, companies could become more amenable if they discover that compli­ance could enhance risk management and improve productivity. Coordination, communication and accountability are vital for credible and effective imple­mentation of the framework. Key steps have been identified to help corporations comply.
Topic:
Conflict Prevention, Development, Economics, Human Rights, Human Welfare, Markets, and Foreign Direct Investment
Political Geography:
United Nations

1892. Libertarian Roots of the Tea Party

Author:
David Kirby and Emily McClintock Ekins
Publication Date:
08-2012
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
Many people on the left still dismiss the tea party as the same old religious right, but the evidence says they are wrong. The tea party has strong libertarian roots and is a functionally libertarian influence on the Republican Party.
Topic:
Democratization, Economics, Politics, Insurgency, and Financial Crisis
Political Geography:
United States

1893. Regulation, Market Structure, and Role of the Credit Rating Agencies

Author:
Mark A. Calabria and Emily McClintock Ekins
Publication Date:
08-2012
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
During the financial crisis of 2008, the financial markets would have been better served if the credit rating agency industry had been more competitive. We present evidence that suggests the Securities and Exchange Commission's designation of Nationally Recognized Statistical Rating Organizations (NRSROs) inadvertently created a de facto oligopoly, which primarily propped up three firms: Moody's, S, and Fitch. We also explain the rationale behind the NRSRO designation given to credit rating agencies (CRAs) and demonstrate that it was not intended to be an oligopolistic mechanism or to reduce investor due diligence, but rather was intended to protect consumers. Although CRAs were indirectly constrained by their reputation among investors, the lack of competition allowed for greater market complacency. Government regulatory use of credit ratings inflated the market demand for NRSRO ratings, despite the decreasing informational value of credit ratings. It is unlikely that this sort of regulatory framework could result in anything except misaligned incentives among economic actors and distorted market information that provides inaccurate signals to investors and other financial actors. Given the importance of our capital infrastructure and the power of credit rating agencies in our financial markets, and despite the good intentions of the uses of the NRSRO designation, it is not worth the cost and should be abolished. Regulators should work to eliminate regulatory reliance on credit ratings for financial safety and soundness. These regulatory reforms will, in turn, reduce CRA oligopolistic power and the artificial demand for their ratings.
Topic:
Economics, Markets, Financial Crisis, and Governance
Political Geography:
United States

1894. Corporate Welfare in the Federal Budget

Author:
Tad DeHaven
Publication Date:
07-2012
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
Rising federal spending and huge deficits are pushing the nation toward a financial and economic crisis. Policymakers should find and eliminate wasteful, damaging, and unneeded programs in the federal budget. One good way to save money would be to cut subsidies to businesses. Corporate welfare in the federal budget costs taxpayers almost $100 billion a year.
Topic:
Economics, Markets, Monetary Policy, and Financial Crisis
Political Geography:
United States

1895. Business and Human Rights: Proposals from the Research Group on Private International Law and Human Rights

Author:
Nicolás Zambrana Tévar
Publication Date:
07-2012
Content Type:
Working Paper
Institution:
Centre on Human Rights in Conflict
Abstract:
By means of Resolution 17/4 of 16 June 2011, the UN Human Rights Council has created a Working Group with the mission of implementing the UN “Protect, Respect and Remedy” Framework and its Guiding Principles. As part of its activities, the Working Group asked for input from stakeholders and convened a meeting with them, which took place in Geneva on 20 January 2012.
Topic:
Economics, Human Rights, Human Welfare, International Trade and Finance, and Markets
Political Geography:
Geneva and United Nations

1896. Prospects for Global Growth in 2012

Author:
Onur Bayramoğlu
Publication Date:
03-2012
Content Type:
Policy Brief
Institution:
Global Political Trends Center
Abstract:
The current concern among many is that what we are faced today is not a usual crisis that is part of the economic cycle, but an era of great stagnation with low growth and high unemployment, not witnessed since the Great Depression of the 1930's. One wonders which country will drive global growth while major actors such as the European Union are now financial casinos, the United States is continuously losing its dynamism, Japan is struggling under demographical problems, and the emerging markets are still too small and volatile. Once again, policy makers acknowledge that the problems of growth are global and systematic; such that if one faces an issue, all of them get contaminated. However, they still seek for solutions in mercantilist national policies.
Topic:
Economics, Globalization, International Trade and Finance, Markets, and Financial Crisis
Political Geography:
United States and Europe

1897. Building Africa's Airlift Capacity: A Strategy for Enhancing Military Effectiveness

Author:
Birame Diop, David M. Peyton, and Gene McConville
Publication Date:
08-2012
Content Type:
Policy Brief
Institution:
Africa Center for Strategic Studies
Abstract:
In April 2012, the Economic Community of West African States (ECOWAS) declared its readiness to deploy 3,000 troops to northern Mali in response to seizures of territory by Tuareg separatists and Islamist militias. Left unanswered was the question of how ECOWAS would transport these troops and their equipment to Mali. Only airlift resources would be able to deliver personnel and heavy equipment into the area of operations (AO) in a timely manner, provide operational mobility within the AO against dispersed and heavily armed irregular forces, monitor a geographic area larger than France, and sustain operations for months or years. The inability to respond to these challenges to territorial control, in turn, further emboldens such separatists and other spoilers.
Topic:
Security, Economics, Islam, Insurgency, and Narcotics Trafficking
Political Geography:
Africa and France

1898. Australia - China ties: in search of political trust

Author:
Linda Jakobson
Publication Date:
06-2012
Content Type:
Policy Brief
Institution:
Lowy Institute for International Policy
Abstract:
How Canberra should manage its relations with Beijing, given the importance of China economically, politically and militarily, is a question which divides Australians. There is general agreement that the rise of China will have a profound effect on the well - being and security of Australia. The consensus ends there.
Topic:
Foreign Policy, Diplomacy, Economics, and Bilateral Relations
Political Geography:
China, Asia, and Australia

1899. Renewable Resource Shocks and Conflict in India's Maoist Belt

Author:
Devesh Kapur, Kishore Gawande, and Shanker Satyanath
Publication Date:
08-2012
Content Type:
Working Paper
Institution:
Center for Global Development
Abstract:
Is there a causal relationship between shocks to renewable natural resources, such as agricultural and forest lands, and the intensity of conflict? In this paper, we conduct a rigorous econometric analysis of a civil conflict that the Indian Prime Minister has called the single biggest internal security challenge ever faced by his country, the so-called Maoist conflict. We focus on over-time within-district variation in the intensity of conflict in the states where this conflict is primarily located. Using a novel data set of killings, we find that adverse renewable resource shocks have a robust, significant association with the intensity of conflict. A one standard deviation decrease in our measure of renewable resources increases killings by 12.5 percent contemporaneously, 9.7 percent after a year, and 42.2 percent after two years. Our instrumental variables strategy allows us to interpret these findings in a causal manner.
Topic:
Security, Agriculture, Economics, and Natural Resources
Political Geography:
South Asia and India

1900. "Small Is Beautiful": Lessons from Laos for the Study of Chinese Overseas

Author:
Danielle Tan
Publication Date:
09-2012
Content Type:
Journal Article
Institution:
German Institute of Global and Area Studies
Abstract:
During the colonial period, Laos welcomed the smallest overseas Chinese communities in Southeast Asia, communities that almost disappeared after the communist forces seized power in Laos in 1975. Yet, this landlocked country shares a long history with China and even experienced a Golden Age thanks to the thriving caravan trade between Yunnan and mainland Southeast Asia. The Greater Mekong Subregion initiative, a development programme launched by the Asian Development Bank, has revitalized these historical trade routes, causing thousands of Chinese migrants to pour onto the new roads of Laos, channelled through the North–South Economic Corridor linking Kunming to Bangkok. Depicted as “an army of ants” that plunders the natural resources of this poor country, these Chinese migrants are also the main drivers of development. The paper seeks to examine the specificity of China's engagement in Laos. I suggest that this small and forgotten country can provide insightful lessons to better understand the current changes taking place in Chinese migration worldwide.
Topic:
Development and Economics
Political Geography:
Southeast Asia and Laos