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5161. Isher Ahluwalia on India in the Global Economy

Author:
Nermeen Shaikh
Publication Date:
02-2006
Content Type:
Working Paper
Institution:
Asia Society
Abstract:
Isher Ahluwalia is currently the Vice Chairperson of the Planning Board of the Government of Punjab, India and Member of the National Manufacturing Competitiveness Council, Government of India. Dr. Ahluwalia is also Chairperson of the Board of Governors of the Indian Council for Research on International Economic Relations (ICRIER), a research institute based in New Delhi. She had earlier served as ICRIER's Director and Chief Executive from 1997-2001. Dr. Ahluwalia was a Visiting Professor at the School of Public Affairs, University of Maryland--College Park in 2002 and 2003. She received her B.A. from Presidency College at Calcutta University, her M.A. from the Delhi School of Economics, and her Ph.D. from the Massachusetts Institute of Technology, all in economics. This interview with AsiaSource was conducted on February 2nd, 2006, while Dr. Ahluwalia was in New York for the Asia Society panel discussion on Encyclopedic India: Ancient Cultures and New Opportunities.
Topic:
International Relations, Economics, and Globalization
Political Geography:
New York, India, Asia, New Delhi, Punjab, and Calcutta

5162. Economic Growth and India's Future?

Author:
Joydeep Mukherji
Publication Date:
03-2006
Content Type:
Working Paper
Institution:
Center for the Advanced Study of India
Abstract:
Recent optimism about India is based on the view that the country may finally be on a higher growth trajectory after more than a decade of halting economic reform. Spurred by a balance of payments crisis a decade ago that pushed the government of India to nearly defaulting on its foreign debt, a series of coalition governments have slowly deregulated the once most-regulated economy outside the communist world. Over the years, the government has enlarged the role of market forces, given more freedom to the private sector, and cut barriers to domestic and foreign competition. At the same time, India's state governments have gained considerable autonomy from the central government, making India into the federal state envisaged in its constitution.
Topic:
Development, Economics, and International Trade and Finance
Political Geography:
India, East Asia, and Asia

5163. India's New Entrepreneurial Classes: The High Growth Economy and Why it is Sustainable?

Author:
Sunil Bharti Mittal
Publication Date:
02-2006
Content Type:
Working Paper
Institution:
Center for the Advanced Study of India
Abstract:
I am Francine Frankel, director of the Center for the Advanced Study of India, and it is my great pleasure this evening to introduce our speaker for CASI's Annual Lecture, Sunil Bharti Mittal, the founder, chairman, and group managing director, Bharti Enterprises. I hardly need tell this audience that Bharti Tele-Ventures is India's leading telecom conglomerate and its largest mobile service operator.
Topic:
Development, Economics, and International Trade and Finance
Political Geography:
India, East Asia, and Asia

5164. Scorecard on Corporate Governance in East Asia

Author:
Stephen Y.L. Cheung and Hasung Jang
Publication Date:
12-2006
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
The far reaching economic effects of the 1997 Asian financial crisis underscore the importance of structural reforms in the governance of the East Asian business sector. This paper measures the progress of corporate governance reforms in nine East Asian economies towards the guidelines established by the Pacific Economic Cooperation Council (PECC), as revealed empirically through two surveys. The first survey is a stock-taking exercise to take note of on-going reforms in corporate governance rules and regulations, while the second covers perceptions of the implementation and enforcement of corporate governance rules as seen by fund managers and analysts. This study indicates a divergence between the regulatory environment and market perceptions of corporate governance practices in the countries sampled. The survey results also show that, although the nine economies do not differ significantly in the corporate governance rules and regulations they have put in place, there is a significant difference in terms of market perceptions of their corporate governance practices. More than an academic exercise, this study is meant to share the experiences of corporate governance reform among East Asian economies.
Topic:
Economics, Government, and Industrial Policy
Political Geography:
Israel, East Asia, and Asia

5165. Economic Size Trumps All Else? Lessons from BRICSAM

Author:
Timothy Shaw, Andrew F. Cooper, and Agata Antkiewicz
Publication Date:
12-2006
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
Continuing CIGI's BRICSAM research, this paper questions whether size (economic or population) of emerging economies alone is enough to warrant accommodation in the rules and structures of the international system. The global realignment of states following the resulting power vacuum brought on by the end of the Cold War is finally materializing, as a new triangular formation has taken shape: the 'first world' club of the OECD; the 'second world' of emerging economies; and, a heterogeneous 'third world' of the rest. The interplay between and mobility among these groups of states deserves in-depth analysis. The core of this paper observes the economic and social trends of countries in the second tier, and their upwards aspirations towards the top-tier of the global architecture. Traced through a variety of indices, the growth of the BRICSAM group of countries (Brazil, Russia, India, China, South Africa, ASEAN-4 and Mexico) is demonstrated to be a powerful force in international economics and political economy. For the inclusion of these states, a change in the key aspects of global economic governance, the international architecture and geopolitics seems inevitable, and with it, new challenges arise for decision-makers and scholars alike.
Topic:
Cold War, Development, Economics, and Globalization
Political Geography:
Russia, China, India, South Africa, Brazil, and Mexico

5166. The Asian Economic Revolution and Canadian Trade Policy

Author:
John Whalley
Publication Date:
08-2006
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
This paper discusses the broad orientation of Canada's trade policy relative to two major historical phases of development based on a secure national market behind the National Policy from 1879 until the 1930s, and progressive integration with the United States (US) through Bilateral Agreements (1930s), the Auto Pact (1965), the Canada-US Free Trade Agreement (1987) and the North American Free Trade Agreement (NAFTA) (1994). Currently, Canada exports approximately 85% to the US, but imports from China account for 8% and are growing at over 20% a year. Sharply unbalanced (surplus) trade with the US is counterbalanced by unbalanced deficit trade with China. A scenario of elevated growth in Asia (principally China, India, and the Association of Southeast Asian Nations or ASEAN) poses challenges of relative disintegration from North America and growing global integration centered on Asia. Seemingly a series of implications follow; including positioning Canada within the emerging network of regional agreements in Asia, more resourcebased and Western Canada focused trade and infrastructure development, and responding to capital market integration with Asia. Broader issues include the potential adjustments facing Central Canada as Asian imports of manufactures displace both imported manufactures from the US and domestic production are raised.
Topic:
Economics and International Trade and Finance
Political Geography:
United States, China, Canada, Asia, and North America

5167. Has Financial Internationalization Turned into Financial Globalization?

Author:
Samir Saul
Publication Date:
04-2006
Content Type:
Working Paper
Institution:
Institute on Globalization and the Human Condition, McMaster University
Abstract:
Money-capital has crossed state borders in increasing amounts since the nineteenth century. Understood as internationalization, this phenomenon has been a feature of the world economy for some time. Globalization is more complex and encompassing. It posits an intensification, a deepening and a multiplication of forward and backward links between units of a global economy. Financial globalization "is an aggregate concept that refers to increasing global linkages created through crossborder financial flows" (Prasad et al. 2003, 2). It includes uniformity of practices and liberalization — in this instance, the removal of legal barriers and regulatory restrictions to international financial flows. It assumes integration of markets, mobility of actors, interconnectedness, and multilateral relations. Historically, financial internationalization has meant largely unidirectional movement of capital from relatively capital-rich to relatively capital-poor countries. Financial globalization implies multidirectional mobility, cross-investments, as well as reciprocal back-and-forth movement of capital between investor and recipient economies.
Topic:
Economics, Globalization, and International Trade and Finance

5168. Haiti's Economic Challenge

Author:
Emily Hsu and Robert Pierto
Publication Date:
07-2006
Content Type:
Policy Brief
Institution:
United States Institute of Peace
Abstract:
Haiti's new government faces an enormous economic challenge. Haiti is the poorest country in the Western Hemisphere and among the poorest countries in the world. Two thirds of Haiti's eight million citizens live in poverty. Half of its adult population is illiterate. Only a quarter of its children attend school. Since a brief spike in the 1970's, Haiti's economy has experienced a steady decline as a result of rapacious government policies and, possibly well intentioned, but destructive international sanctions.
Topic:
Development, Economics, and Government
Political Geography:
Central America and Haiti

5169. Economic Empowerment of Women in Iraq: The Way Forward

Author:
Yll Bajraktari
Publication Date:
05-2006
Content Type:
Policy Brief
Institution:
United States Institute of Peace
Abstract:
A UN/World Bank survey conducted after the fall of the Saddam Hussein regime revealed that even though women represented about 55 percent of Iraq's population, they made up only 23 percent of the workforce. Although the international community and Iraqis have since devoted considerable attention to boosting the status of women in Iraq, most of these efforts have focused on the social and political empowerment of women. Full democratic consolidation in Iraq can only be achieved by guaranteeing, in addition, a leading economic role for women in Iraq.
Topic:
Development, Economics, and Gender Issues
Political Geography:
Iraq and Middle East

5170. Better (RED) than Dead: 'Brand Aid', Celebrities and the New Frontier of Development Assistance

Author:
Stefano Ponte and Lisa Ann Richey
Publication Date:
09-2006
Content Type:
Working Paper
Institution:
Danish Institute for International Studies (DIIS)
Abstract:
Bono's launch of Product (RED)™ at Davos in 2006 marks the opening of a new frontier for development aid. The advent of 'Brand Aid' explicitly linked to commerce, not philanthropy, reconfigures the modalities of international development assistance. American Express, Gap, Converse and Armani represent the faces of ethical intervention in the world, as customers are encouraged to do good by dressing well. Consumption, trade and aid wed dying Africans with designer goods, as a new social contract is created to generate a sustainable flow of money to support The Global Fund to Fight AIDS, Tuberculosis and Malaria. Aid celebrities – the bard, the teacher and the healer – guarantee the 'cool quotient,' the management and the target of this new modality. Bono is the rock-star who led his fans to believe that they could solve Africa's problems of AIDS and poverty. Jeffrey Sachs is the recently-radicalized economist who masterminded The Global Fund. And Paul Farmer is the physician who convinced the world that treatment of AIDS was possible in even the poorest communities. The consumer's signification of status through designer RED products does not represent the exploitation of the most downtrodden – it actually helps them. 'Brand Aid' creates a world where it is possible to have as much as you want without depriving anyone else. Promoted as new leftist development chic, compassionate consumption effectively de-links the relations of capitalist production from AIDS and poverty.
Topic:
Development, Economics, and Humanitarian Aid
Political Geography:
Africa and America