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3031. From London to L'Aquila: Building a Bridge between the G20 and the G8

Author:
Paola Subacchi and Eric Helleiner
Publication Date:
06-2009
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
From many perspectives, the London Summit of the G20 leaders at the beginning of April 2009 was a success – and a hard act to follow. The discussion was framed around crisis resolution and the strengthening of the international financial architecture. Beyond any concrete achievement, the success of the London Summit is that it morphed into an ongoing process with a rolling agenda, rather than remaining a one-off event. Undoubtedly the Italian Presidency of the G8 has a hard task, being caught between the success of London and the decreasing relevance of the G8. But there is also scope for building a meaningful bridge between London and the G8 meeting in L'Aquila in July 2009, and continuing and strengthening the economic governance reform process. There is an urgent need to continue to push for progress on a number of key items that were not adequately addressed at the London Summit and where progress can be made in L'Aquila – fostering clarity for the G20 agenda for the next meeting in Pittsburgh in September 2009. With regard, in particular, to the reform of the International Monetary Fund, the Italian Presidency should use its G8 chair to initiate a dialogue on reform of the European representation, taking advantage of having all the key players gathered together in L'Aquila.
Topic:
Economics, International Cooperation, International Trade and Finance, Treaties and Agreements, and International Monetary Fund
Political Geography:
Europe, London, and Italy

3032. Participation of Small Developing Economies in the Governance of the Multilateral Trading System

Author:
Richard L. Bernal
Publication Date:
12-2009
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
Given their vulnerability to external economic events, small developing countries (SDEs) are particularly cognizant of their place in the world economy. Moreover, given their reliance on international trade for prosperity, SDEs are also concerned about the rules and institutions governing the multilateral trading system. In this paper, the author reviews and evaluates the participation of SDEs in the governance of the multilateral trading system, with a particular focus on the WTO. He suggests how SDEs can improve the efficacy of their participation in the WTO's decision-making process, and proposes ways in which the WTO could be adapted to better integrate SDEs in its governance.
Topic:
Economics, Emerging Markets, International Trade and Finance, Third World, and World Trade Organization

3033. Keys to Economics of Global Warming: A Critique of the Dismal Theorem

Author:
Sungno Niggol Seo
Publication Date:
11-2009
Content Type:
Working Paper
Institution:
Independent Institute
Abstract:
M. L. Weitzman in his paper "On Modeling and Interpreting the Economics of Catastrophic Climate Change" argues that a standard cost-benefit analysis cannot be used as a tool for climate change policy since the problem of climate change possesses a large irresolvable uncertainty. I critique his analysis on two grounds: 1) key issues in the economics of global warming and 2) the claim on catastrophe. I point out that the fundamental economics of global warming is to provide a public good that is spatially global and temporally lasting, for several centuries, by a globally coordinated effort. The fundamental issue is how to cooperate on a global scale to regulate greenhouse gases given the divergent needs and preferences of individuals, businesses, countries, and even future generations. I argue that Weitzman misinterprets climate science by assuming that all scenarios are equally likely and that there will be no policy intervention to control greenhouse gases. In addition, he focuses on long-term climate predictions. Finally, impact studies do not support catastrophic outcomes from climate change within this century.
Topic:
Climate Change, Economics, Environment, and International Cooperation

3034. Evaluating and Comparing the Innovative Performance of the United States and the European Union

Author:
Malgorzata Runiewicz-Wardyn
Publication Date:
09-2009
Content Type:
Working Paper
Institution:
Minda de Gunzburg Center for European Studies, Harvard University
Abstract:
There are significant differences in the innovative capacities between the economies of the United States and European Union. The US was able to gain and maintain technological leadership, whereas most of the EU member states (with the exception of some Scandinavian economies) still lag behind in the competitiveness and innovation rankings.
Topic:
Economics and International Affairs
Political Geography:
United States and Europe

3035. The United States and Mexico: Towards a Strategic Partnership

Publication Date:
01-2009
Content Type:
Working Paper
Institution:
The Wilson Center
Abstract:
It is time to strengthen the U.S. relationship with Mexico. here are few countries—if any—which are as important to the United States as Mexico. We share more than just a two-thousand mile border. Our economies and societies are deeply interwoven and what happens on one side of our shared border inevitably affects the other side. As the United States seeks to redefine its role in the world, it is vital to start at home, with our neighbors.
Topic:
Economics, Emerging Markets, Regional Cooperation, International Security, Bilateral Relations, Immigration, and Law Enforcement
Political Geography:
United States, Central America, and Mexico

3036. La langue amère des temps nouveaux : dynamique de la violence au Rwanda rural

Author:
Emmanuel Viret
Publication Date:
08-2009
Content Type:
Working Paper
Institution:
Centre d'Etudes et de Recherches Internationales
Abstract:
Dealing with the dynamics of rural violence under the multi-party transition (1991-1994), this paper suggests new points of view on the mobilization of Rwandan peasantry during the genocide (1994). Going through local archives and interviews held in the hills and in four prisons of the country, the analysis focuses on the increasing development of an economy of violence. The multi-party system incited competing rural elites to recruit a growing number of men and ruffians against other contenders in order to assure their access to power. Local elites (re)formed patron-client links previously dried by the spreading of money and wage incomes in the countryside. Particular attention is paid to the dimension of political entrepreneurship and to the relationship between social brokers and rural elites, in the course of the struggle between political parties as well as during the building of the Power coalitions which led the massacres locally.
Topic:
Political Violence, Democratization, Economics, and Genocide
Political Geography:
Africa

3037. Ship Financing: Surviving The Stress Test

Author:
Nazery Khalid
Publication Date:
09-2009
Content Type:
Policy Brief
Institution:
Maritime Institute of Malaysia
Abstract:
The Wall Street meltdown has had a massive domino effect on major industries worldwide. The ensuing financial crisis cuts deep and wide across the global economy. It has clipped the wings of growth of many business activities and industry.
Topic:
Economics, International Trade and Finance, Maritime Commerce, and Financial Crisis
Political Geography:
Malaysia

3038. Brazil's Rise as an Emerging Power: Implications for the U.S. and Europe

Author:
Stefan A. Schirm
Publication Date:
06-2009
Content Type:
Working Paper
Institution:
Center for Transatlantic Relations
Abstract:
The last 20 years have witnessed the economic emergence of several countries, which are considered today to be “pivotal states”, “regional powers”, and “emerging powers” in world politics. These emerging powers encompass countries such as China, India, Brazil and Russia, (the BRICs), which have in common both that they have experienced rapid economic growth and that they seek to influence the global economy and world politics to a greater degree than they did before their rise. The BRICs have become leading exporters and lenders (especially China to the US) as well as holders of currency reserves, and they (plus Mexico) are expected to surpass the GNP of the G7 industrialized countries by the year 2040. The reasons for the assignment of a new role, and often of increased power, to these states are their demographic and geographic size, their economic and military capacities, and their political aspirations.
Topic:
Economics, Emerging Markets, and Globalization
Political Geography:
Russia, United States, China, Europe, India, Brazil, and Latin America

3039. Russia and the Global Meltdown: Domestic and Foreign Policy Responses to the International Financial Crisis

Author:
Robert Jellinek
Publication Date:
03-2009
Content Type:
Working Paper
Institution:
Carnegie Endowment for International Peace
Abstract:
This paper has its origins in the observation that government responses to the global financial crisis are as much political phenomena as they are economic. The current global financial crisis, among its many consequences, has on a very high level shaken up the world political order. And while the crisis is international in origin—its roots lie in the breadth and the degree of the dispersal of risk associated with mortgagebacked securities, as well as the growing imbalance in international capital flows—its resolution is necessarily being carried out first and foremost on a domestic level. This is not least of all because, in the decade since the Asian financial crises, states have begun to play a dramatically increased role in international finance in relation to both multilateral financial institutions such as the IMF and traditional private actors. In an age where global economic ties are integral to domestic economies and where states themselves are becoming some of the biggest players in international capital markets, a state's global financial standing will more than ever determine its political clout on the world stage. With states acting as market makers, lenders of last resort, and regulators of last resort, the key to understanding the future of individual states in the global economic order can be found only by analyzing states' domestic and foreign policy decisions within the context of the specific constraints facing those states at home and abroad.
Topic:
Economics, Emerging Markets, Human Rights, International Trade and Finance, and Financial Crisis
Political Geography:
Russia and Asia

3040. Brazil in the Global Economy: Measuring the Gains From Trade

Author:
Sandra Polaski, Dirk Willenbockel, Eduardo Zepeda, Scott McDonald, Joaquim Bento de Souza Ferreir, Janine Berg, and Karen Thierfelder
Publication Date:
03-2009
Content Type:
Working Paper
Institution:
Carnegie Endowment for International Peace
Abstract:
Brazil's economic growth rate has been positive for the past eight years, after two decades of setbacks and extreme volatility. The country has once again been growing—for a sustained period—at rates that exceed its population growth, with average gross domestic product (GDP) growth per capita averaging 1.63 percent from 2000 to 2007. This exceeds average per capita GDP growth of 0.83 percent from 1980 to 1989 and 0.28 percent from 1990 to 1999, although it still falls well short of the 5.92 percent per capita growth rate from 1970 to 1979.
Topic:
Economics, International Trade and Finance, Labor Issues, and Governance
Political Geography:
Brazil and South America