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51. ASEAN: In or Out? No Way…Not yet?

Author:
Tan Sri Munir Majid
Publication Date:
10-2016
Content Type:
Commentary and Analysis
Institution:
LSE IDEAS
Abstract:
While the close British decision to get out of the European Union was made in a referendum a while ago on 23 June, there is still the feeling in the UK: What have we done? Where do we go? How do we get there? Questions that should have been asked at the referendum, rather than after it. But there you are. When raw emotion and shallow argument reign, profound decisions are made without proper reflection or preparation. Since then the question has also been raised whether or not such a thing could occur in ASEAN, the Association of Southeast Asian Nations. It won’t but then again it may. First of all, let’s be clear. It is not likely there will ever be such a surplus of democracy in ASEAN, whether among individual member states or as a group, that there could be an ‘In or Out’ referendum like the one which resulted in Brexit.
Topic:
International Cooperation, International Affairs, Global Markets, and Global Political Economy
Political Geography:
Southeast Asia

52. The problem with ‘embedded liberalism’: the World Bank and the myth of Bretton Woods

Author:
Samuel Appleton
Publication Date:
10-2016
Content Type:
Working Paper
Institution:
Centre for Global Political Economy, University of Sussex
Abstract:
The Bretton Woods conference is conventionally understood as a radical break between the laissez faire order and its ‘embedded liberal’ successor, in which finance was suppressed in the interest of trade and productive growth. The new institutions, particularly the IBRD are often considered emblematic of this. In response to this, the paper argues that the Bretton Woods order required the enlistment, not repression, of private American finance. Firstly, laissez-faire era proposals for international financial institutions provided important precedents for the Bretton Woods institutions. Second, these were predicated on the uniquely deep liquidity of American financial markets following upon Progressive-era reforms, in the legacy of which the Roosevelt administration sought to locate the New Deal. Thirdly, they found new relevance in the 1940s as the IBRD turned by necessity to American financial markets for operating capital. Negotiating the imperative of commercial creditworthiness had two important consequences. First, it entailed the structural and procedural transformation of the IBRD, and allowed management to carve out a proprietary terrain in which its agency was decisive. Second, this suggests that US agendas were mediated by the Bank’s institutional imperatives – and that finance was no more ‘embedded’ during the Bretton Woods era than its predecessor.
Topic:
Development, Economics, World Bank, Global Markets, International Development, and Global Political Economy
Political Geography:
United States, Europe, and Latin America

53. From College to Jobs: Making Sense of Labor Market Returns to Higher Education

Publication Date:
04-2015
Content Type:
Working Paper
Institution:
Aspen Institute
Abstract:
This report summarizes key findings from recent research on links between higher education and the workforce. Featuring eight brief papers from leading education and workforce experts from around the country, the report offers practical advice for institutional leaders, policymakers, students and their advisers about how to use the increasingly available information on the economic value of higher education. Specifically, the authors’ papers and the opening summary explore what various audiences can learn from emerging evidence about: variations in labor market outcomes by program and institution; the value of degrees to jobs both in and out of fields studied; returns to the completion of certain course clusters that don’t add up to a degree; and distortions that may result from examining returns to individual degrees rather than “stacked” degrees.
Topic:
Economics, Education, Labor Issues, Global Markets, and Employment
Political Geography:
Global Focus

54. Data Intelligence for 21st Century Water Management: A Report from the 2015 Aspen-Nicholas Water Forum

Author:
Dave Grossman, Martin Doyle, and Nicole Buckley
Publication Date:
12-2015
Content Type:
Policy Brief
Institution:
Aspen Institute
Abstract:
The 2015 Aspen-Nicholas Water Forum, brings together each year a select group of water experts with diverse knowledge - from finance and policy to technology and ecosystems - to explore the future of our water system; the role of corporations and municipalities in managing water risk; and the innovations in, and convergence of, water policy, finance, and technology to identify potential game changers. The forum this year specifically focused on water and big data to understand how the emergence of large, but dispersed, amounts of data in the water sector can best be utilized to improve the management and delivery of water for a more sustainable future. Understanding what water data we have, how we collect it, and how to standardize and integrate it may well be a prerequisite to taking action to address a wide range of water challenges.
Topic:
Climate Change, Environment, Science and Technology, Natural Resources, Water, and Global Markets
Political Geography:
Global Focus

55. Leaning Into the Energy System of the Future

Author:
Dave Grossman, Clint Vince, and Sue Tierney
Publication Date:
12-2015
Content Type:
Policy Brief
Institution:
Aspen Institute
Abstract:
The 2015 Energy Policy Forum, “Leaning Into the Energy System of the Future,” was co-chaired by Sue Tierney, Managing Principal of The Analysis Group and former Assistant Secretary of Energy for Policy, and Clint Vince, Chair of the U.S. Energy Practice at Dentons U.S. LLP. Topics discussed included new global energy pricing realities and the effects on domestic energy; the Clean Power Plan; the electricity source mix of the future; and new business models needed to deal with current markets realities.
Topic:
Climate Change, Energy Policy, Natural Resources, Global Markets, and Financial Markets
Political Geography:
United States of America

56. Regulation, Conversation, and Impact of Shale Gas and Oil in a Low Price Environment

Author:
David Grossman
Publication Date:
11-2015
Content Type:
Policy Brief
Institution:
Aspen Institute
Abstract:
The 2015 Modern Shale Gas and Oil Production Forum, “Regulation, Conversation, and Impact of Shale Gas and Oil in a Low Price Environment,” convened about 60 invited energy leaders, including regulators from leading producing states and representatives from industry and the environmental community. The discussions covered a broad range of environmental and community effects related to shale gas and oil production, including water use and availability, surface and groundwater contamination, air emissions, land use impacts, induced seismicity, and local nuisance issues. The Forum also benefited this year from a meeting of state regulators that took place in the days immediately preceding the Forum. The focus of this meeting was to discuss the concept of a regulatory consultation and assessment process to promote continual regulatory improvement – an idea initially discussed during the 2014 Modern Shale Gas and Oil Production Forum.
Topic:
Energy Policy, Environment, Oil, Global Markets, Gas, and Regulation
Political Geography:
Global Markets

57. The New Pricing Reality in Global Oil and Gas Markets

Author:
Dave Grossman, Claire Farley, and Bill White
Publication Date:
11-2015
Content Type:
Policy Brief
Institution:
Aspen Institute
Abstract:
The 2015 Forum on Global Energy Economy and Security, “The New Pricing Reality in Global Oil and Gas Markets,” was co-chaired by Claire Farley, Member at Kohlberg Kravis Roberts & Company, and Bill White, Senior Advisor and Chairman of Lazard Houston and former Mayor of Houston. Topics discussed included the current and future drivers of global supply and demand for petroleum; specific regional changes and challenges; the global LNG market and market penetration for natural gas; environmental challenges that may impact oil and gas development; and the effect of new technology and data changing planning and investment.
Topic:
Economics, Energy Policy, Environment, Oil, and Global Markets
Political Geography:
Global Focus

58. Reforming American Public Diplomacy

Author:
Richard Kessler
Publication Date:
05-2015
Content Type:
Working Paper
Abstract:
The 2014 Dialogue on Diplomacy and Technology took place August 3-6, 2014 in Aspen, Colorado. The Dialogue, Reforming American Public Diplomacy, explored whether the US Government’s apparatus for global discourse is adequate to the times.
Topic:
Diplomacy, Human Welfare, Science and Technology, Governance, and Global Markets
Political Geography:
Global Focus

59. Just Enough, Just in Time: Improving Sovereign Debt Restructuring for Creditors, Debtors and Citizens

Author:
Richard Gitlin and Brett House
Publication Date:
07-2015
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
Recent international financial turmoil — most notably in Greece — has refocused attention on the risks posed by severe sovereign debt crises and weaknesses in our approaches to restructuring sovereign debt. Since early 2010, these risks have driven a range of debt-related policy proposals and actions in individual economies, across regions and at the international financial institutions. While some incremental first reform steps have been taken, these have not yet produced a more efficient, effective or resilient international framework for handling severe sovereign debt crises and effecting sovereign debt workouts. In contrast, some institutional and policy changes made in the heat of the euro-zone crisis have raised as many questions as they have resolved. Old policy ideas are also being resurrected and configured in new ways for current challenges. After years of substantial fiscal stimulus and exceptional monetary policies, high debt burdens across the advanced economies, fears of secular stagnation, signs of an imminent increase in US borrowing costs and deteriorating demographics together make a compelling case for concerted action to improve international arrangements for dealing with distressed sovereign debt.
Topic:
Debt, Economics, Monetary Policy, Financial Crisis, and Global Markets
Political Geography:
Global Focus

60. Corporate Debt in Emerging Economies: A Threat to Financial Stability?

Author:
Barry Eichengreen, Domenico Lombardi, Malcolm D. Knight, Yu Yongding, Stephen G. Cecchetti, Diane De Gramont, Şebnem Kalemli-Özcan, Phillip R. Lane, Ugo Panizza, and Viral V. Acharya
Publication Date:
09-2015
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
During 1999-2007, the international balance sheets of emerging economies grew stronger through a combination of current account surpluses, a shift from debt funding to equity funding, and the stockpiling of liquid foreign reserves. This risk-mitigating strategy improved the international financial standing of many emerging economies and helped these economies withstand the 2008-2009 global financial crisis. However, a combination of domestic and external factors has led to a partial reversal of this strategy, with some emerging economies accumulating significant external debt since 2010. Previewed by the May 2013 “taper tantrum,” there has been considerable speculation that a tightening of dollar-funding conditions and a macroeconomic slowdown in emerging economies may result in financial instability in some emerging economies.
Topic:
Debt, Economics, Emerging Markets, International Trade and Finance, Financial Crisis, and Global Markets
Political Geography:
Global Focus