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2271. Time for a Common European Effort on Raw Materials

Author:
Roderick Kefferpütz
Publication Date:
12-2011
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
At long last commodity prices have declined from their pre-summer highs. Many raw materials are now trading at significantly lower prices, giving temporary respite to industry. Red-hot copper, the bellwether of the metals sector, for example, has pulled back from its peak of $10,000 a tonne. Even the astronomical rise of the previously little-known rare earth elements has reversed.
Topic:
Economics, Markets, and Natural Resources
Political Geography:
Europe

2272. Misguided policies risk breaking up the eurozone and the EU

Author:
Stefano Micossi
Publication Date:
12-2011
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
I met Tommaso Padoa-Schioppa in the early 1970s as a new young professional in the Research Department of Banca d'Italia, where he was head of the monetary policy unit. Many of us newcomers, fresh from American graduate studies, were appalled by the Bank's monetary approach, replete with quantitative controls and administrative measures to channel funds to an insatiable Treasury.
Topic:
Economics, Regional Cooperation, Monetary Policy, and Governance
Political Geography:
America and Europe

2273. EU Federalism in Crisis

Author:
Karel Lannoo
Publication Date:
12-2011
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
One positive effect of the euro crisis is that it has provoked Europe to engage in a profound debate on the form and degree of federalism it needs. Even if, until recently, many would have argued that Europe is not a federal state, the EU already has many elements of such a governance model in place, of which European citizens are hardly aware. Many competences are uniquely attributed to the EU. Legislation in several fields of EU competence can be adopted with a qualified majority of member states. Only in a few areas, such as taxation, is unanimity still required, even after the new Lisbon Treaty has come into effect. The same applies for changes to the EU Treaty itself.
Topic:
Economics, Regional Cooperation, Monetary Policy, Financial Crisis, and Governance
Political Geography:
Europe

2274. Agreement needed on liquidity provision to restore confidence in the eurozone

Author:
Stefano Micossi
Publication Date:
11-2011
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
Some eighteen months after the first Greek rescue (May 2010), there is little doubt that the multiple attempts at crisis management in the eurozone have failed to restore confidence. Indeed, following each round of emergency measures agreed by the eurozone summits, matters have turned for the worse (see Figure 1 for the widening spreads, over the German Bund, for sovereign borrowing in the eurozone). At the time of writing, contagion has spread beyond Spain and Italy to the core sovereigns, with France close to losing its triple A rating and even Germany experiencing partial failure in a Bund auction on November 23rd. Spreads are also opening up for Austria, Belgium, Finland and even the virtuous Netherlands. Meanwhile, the banking system Europe- wide is under increasing strain, with term funding all but closed for any bank with significant exposure to distressed sovereign debtors and the interbank market close to seizing up. Deposit withdrawals have surfaced in a number of large banks from the periphery. The euro has started to weaken in foreign exchange markets, narrowing the room for a distinction between eurozone debt crisis and euro-currency crisis from which some observers were until recently drawing comfort.
Topic:
Economics, Regional Cooperation, Monetary Policy, and Financial Crisis
Political Geography:
Europe and Germany

2275. Engendering Haiti's Reconstruction: The Legal and Economic Case for Mainstreaming Women in Post-Disaster Programming

Author:
Jennifer S. Rosenberg
Publication Date:
12-2011
Content Type:
Working Paper
Institution:
Human Rights Human Welfare (University of Denver)
Abstract:
On January 12, 2010, an earthquake of devastating magnitude shook Haiti, killing over 250,000, reducing much of the country's infrastructure to rubble—including its government—and leaving millions of people without homes and livelihoods. As Haiti lurches toward an era of rebuilding and renewal, the ways in which priorities are set and resources spent can either accelerate the rate at which Haitians are able to emerge from poverty and achieve economic development—or they can substantially inhibit the country's path toward recovery. One of the most critical factors that will determine which path Haiti takes is the extent to which gender concerns are brought to the fore in the reconstruction process. Gender mainstreaming, as a technical term in the development field, involves ensuring that gender perspectives and attention to the goal of gender equality are central to all activities, from policy development to legislative drafting. Such a women-focused approach is not only imperative from a moral justice and human rights perspective, but also a vital component of a successful economic development strategy.
Topic:
Development, Economics, Gender Issues, Health, Human Rights, Human Welfare, and Natural Disasters

2276. Sovereign Wealth Funds in Nondemocratic Countries: Financing Entrenchment or Change?

Author:
Sven Behrendt
Publication Date:
09-2011
Content Type:
Journal Article
Journal:
Journal of International Affairs
Institution:
School of International and Public Affairs, Columbia University
Abstract:
The rising prominence of sovereign wealth funds—investment funds that are owned or controlled by national governments—has stirred debate about their potential use as tools to pursue global political interests rather than economic or financial ends. Recent sanctions levied on the Libyan Investment Authority, formerly operated by the government of Muammar al-Qaddafi, underscore this question. This article argues that the governance, accountability and transparency arrangements of sovereign wealth funds reflect the quality of political institutions within the countries that own them. In contrast to funds based in democratic states, those managed by authoritarian governments are distinguished by a lack of public oversight and are instead tightly controlled by the prevailing political leadership. The link between political leadership and fund management in many authoritarian countries allows governments more flexibility in using financial assets to pursue immediate political agendas.
Topic:
Economics and Government
Political Geography:
Libya

2277. Myanmar's Fifty-Year Authoritarian Trap

Author:
Sean Turnell
Publication Date:
09-2011
Content Type:
Journal Article
Journal:
Journal of International Affairs
Institution:
School of International and Public Affairs, Columbia University
Abstract:
Myanmar has been under military rule in various guises for nearly fifty years. The most durable and unyielding of the authoritarian regimes in Southeast Asia, Myanmar's military rulers have expertly exploited circumstances and methods that prolong their rule, even as they have failed to deliver genuine economic growth and development. Their methods include ruthlessly suppressing dissent, inciting ethnic divisions and fears of external threats and making implicit bargains with neighboring states and domestic elites over the spoils available to a rentier state. Myanmar's emergence in recent years as a significant regional supplier of natural gas has dramatically increased the country's distributable economic rents, thus exacerbating the country's political stasis. This article examines the ways in which Myanmar's military regime has maintained its rule through the exploitation of these methods, but with a particular focus on the impacts of the country's exploitable energy and resource wealth and its implications for Myanmar's economic development and political transition.
Topic:
Development and Economics
Political Geography:
Southeast Asia and Myanmar

2278. North Korea's State-Loyalty Advantage

Author:
B. R. Myers
Publication Date:
09-2011
Content Type:
Journal Article
Journal:
Journal of International Affairs
Institution:
School of International and Public Affairs, Columbia University
Abstract:
Although North Korea's northern border remains easy to cross, and North Koreans are now well aware of the prosperity enjoyed south of the demilitarized zone, Kim Jong Il continues to rule over a stable and supportive population. Kim enjoys mass support due to his perceived success in strengthening the race and humiliating its enemies. Thanks in part to decades of skillful propaganda, North Koreans generally equate the race with their state, so that ethno-nationalism and state-loyalty are mutually enforcing. In this respect North Korea enjoys an important advantage over its rival, for in the Republic of Korea ethno-nationalism militates against support for a state that is perceived as having betrayed the race. South Koreans' “good race, bad state” attitude is reflected in widespread sympathy for the people of the North and in ambivalent feelings toward the United States and Japan, which are regarded as friends of the republic but enemies of the race. But North Korea cannot survive forever on the public perception of state legitimacy alone. The more it loses its economic distinctiveness vis-à-vis the rival state, the more the Kim regime must compensate with triumphs on the military and nuclear fronts. Another act of aggression against the Republic of Korea may well take place in the months ahead, not only to divert North Korean public attention from the failures of the consumer-oriented “Strong and Prosperous Country” campaign, but also to strengthen the appeasement-minded South Korean opposition in the run-up to the presidential election in 2012.
Topic:
Economics
Political Geography:
United States, Japan, and North Korea

2279. Survival, Adaptation and Uncertainty: The Case of Cuba

Author:
Eusebio Mujal-León
Publication Date:
09-2011
Content Type:
Journal Article
Journal:
Journal of International Affairs
Institution:
School of International and Public Affairs, Columbia University
Abstract:
The Cuban Revolution recently experienced a major transition of leadership as power shifted hands from Fidel Castro to his younger brother, Raúl. Eschewing the role of caretaker, Raúl embarked on an ambitious program aiming to streamline a cumbersome and inefficient state while reforming the economy in ways that will increase agricultural production, encourage self-employment and lead to sustainable economic growth. At the same time, Raúl Castro refashioned the ruling coalition and proposed major changes to the ruling Communist Party, including term limits, leadership rotation and the separation of party and state functions. This article analyzes the emergence of a new Cuban political elite, explores how power is distributed between its military and party wings and examines the major challenges this coalition must overcome if it is to successfully manage the transition from the Castro era and stabilize Cuban autocracy.
Topic:
Economics
Political Geography:
Cuba

2280. Political Economics: The Challenges of Economic Development in Palestine

Author:
Karam Dana
Publication Date:
12-2011
Content Type:
Working Paper
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
Since the Six-Day War and Occupation of 1967, economics, an area of study that affects social and political formulations and transformations, has entered the study of the Palestinian-Israeli conflict to a much larger extent: Palestinian workers in Israel, to an underdeveloped infrastructure in the Palestinian territories. More than four decades later, economic challenges continue to play a role in the affairs of the Palestinians: from affecting people's lives and their leadership on the one hand, and the relationship between the Palestinian and Israel on the other. Within Palestinian society itself, the dynamics of state-society relations have demonstrably been affected by economic transformations, but have yet to be fully studied in places of continuous occupation and conflict like the West bank and the Gaza Strip. This paper explores the challenges that have faced developmental attempts in Palestine since the occupation of 1967.
Topic:
Development, Economics, and Infrastructure
Political Geography:
Middle East and Arabia