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391. Business Groups, Innovation and Institutional Voids in Latin America

Author:
Fulvio Castellacci
Publication Date:
10-2012
Content Type:
Working Paper
Institution:
Norwegian Institute of International Affairs
Abstract:
The paper presents an empirical analysis of the innovative activities of business groups in Latin America. It compares the innovativeness of group-affiliated firms (GAFs) and standalone firms (SAFs), and it investigates how country-specific institutional factors – financial, legal, and labor market institutions – affect the group-innovation relationship. The empirical analysis is based on the most recent wave of the World Bank Enterprise Survey (period 2010-2011), and it focuses on a sample of 6500 manufacturing firms across 20 Latin American countries. The econometric results point out two major conclusions. First, GAFs are more innovative than SAFs: we estimate the innovation propensity of GAFs to be 9% higher than that of SAFs. Secondly, across countries, the innovativeness of GAFs is higher for national economies with a better institutional system than for countries with a less efficient institutional set up.
Topic:
Economics, Globalization, International Trade and Finance, and Markets
Political Geography:
Latin America

392. Could Turkey Be a Dominant Regional Power?: The Rise of Turkey as a Country of Middle-East and Europe

Author:
Bulend Aydin Ertekin
Publication Date:
05-2012
Content Type:
Journal Article
Journal:
Alternatives: Turkish Journal of International Relations
Institution:
Center for International Conflict Resolution at Yalova University
Abstract:
According to the common idea, "the economic power determines the political power." By this general principle, when we look at the powerful states, we see that these states (countries) have, at the same time, the powerful political effect on the other actors. In this paper, some trade and economic data of Turkey are shown in order to localize its place in the World rankings. By this purpose, this paper argues the fact that Turkey which, being one of the countries belonging G-20, has tried since 1991 to play a big role in its bilateral relations in Caucasia, Central Asia and Middle East (CCAME). However, when the data of international business of Turkey and those of each one of the countries of Central Asia treated in the contents of research are studied, it is seen very clearly that the influence of Turkey in Central Asia is not very dominant or does not create a dominating effect over the economic plan in spite of the existence of the diplomatic effects, visa facilities and the visits based upon the cultural level and mutually testified. Without any doubt, although nobody can deny the existence and the probability of the gradual growth of Turkey's relations in CCAME's countries, Turkey, whose face is turned mainly towards the occident and the large majority of trade made within the European countries,tries to be an influential actor in the determined areas. Naturally, in spite of the celebration of Nawruz with the Turkic World, acting as a Muslim country in Middle East, and accepting the norms of European Union as a European democratic and laicized country in Europe, Turkey presents several identities and makes it a multi-colored actor who can be used in favor of Turkey's interests.
Topic:
Foreign Policy and Globalization
Political Geography:
Europe, Turkey, and Middle East

393. Europe's Innovation Union—Beyond Techno-Nationalism?

Author:
Dieter Ernst
Publication Date:
08-2012
Content Type:
Working Paper
Institution:
East-West Center
Abstract:
This paper traces recent transformations in Europe's innovation policy - the move towards EU - wide policy coordination in the form of an “Innovation Union”. A deep fiscal crisis and increasingly severe austerity policies are slowing down Europe's move towards greater openness and internationalization of its innovation system.
Topic:
Debt, Economics, Globalization, Science and Technology, and Financial Crisis
Political Geography:
Europe

394. The Irony of Global Economic Governance: The System Worked

Author:
Daniel W. Drezner
Publication Date:
10-2012
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
The 2008 financial crisis posed the biggest challenge to the global economy since the Great Depression and provided a severe “stress test” for global economic governance. A review of economic outcomes, policy outputs, and institutional resilience reveals that these regimes performed well during the acute phase of the crisis, ensuring the continuation of an open global economy. Even though some policy outcomes have been less than optimal, international institutions and frameworks performed contrary to expectations. Simply put, the system worked.
Topic:
Economics, Globalization, International Political Economy, Markets, Global Recession, Monetary Policy, and Financial Crisis

395. "The Political Future of the Union" Paper

Author:
Francesco Prota and Gianfranco Viesti
Publication Date:
11-2012
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
The main onus of responsibility for the current global economic predicament is on the financial system, not on a lack of fiscal discipline. Nonetheless, the crisis is having an extremely severe impact on the real economy, which is felt most acutely in the southern Eurozone member states. Since the end of the deepest phase of the crisis in 2009, European governments have committed themselves to fiscal consolidation. The results of these policies have been perverse: the impact of fiscal tightening during a depression may result in depressed output and high unemployment, without lowering the debt-Gross Domestic Product ratio. In light of this, we make a case for restoring growth in Europe without further delay, and discuss the role of the EU budget as an instrument for setting and implementing a real EU growth strategy.
Topic:
Economics, Globalization, International Trade and Finance, Monetary Policy, and Financial Crisis

396. Transnationale Migrantengruppen und der Transport von Konflikten. Das Beispiel Türken und Kurden in Berlin

Author:
Jan Hanrath
Publication Date:
12-2012
Content Type:
Working Paper
Institution:
Institute for Development and Peace
Abstract:
Along with processes of globalization and transnational migration conflicts that were formerly confined to a certain territory have seemingly become dispersed and delocalized. In a number of Western cities tensions and conflicts between different migrant groups occurred that appear to reflect conflict constellations in their respective countries of origin. Approaches to the study of the occurrence of conflicts between ethnic groups in the host countries usually focus on either exogenous or endogenous factors. While the former hold that conflicts are rather imported and therefore a continuation of the core conflict in the country of origin, the latter locate the main reasons for conflict in the country of settlement. Analyzing conflicts between Turks and Kurds in Berlin, the INEF Report at hand shows that these two streams of argumentation are comple-mentary rather than contradicting. Furthermore it illustrates that the conflicts between migrant groups in the places of settlement are not a mere reproduction and continuation of the core conflicts but gain a new quality.
Topic:
Conflict Resolution, Ethnic Conflict, Globalization, and Migration
Political Geography:
Berlin

397. How Can Trade Policy Help America Compete?

Author:
Robert Z. Lawrence
Publication Date:
10-2012
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
America deserves credit for not having succumbed to the global financial crisis by repeating the protectionist mistakes of the 1930s. Nonetheless, since 2007, although lip service has been paid to boosting US exports, its trade policy accomplishments have been modest. This is unfortunate because active trade policies can promote American living standards and facilitate America's return to full employment and sustained growth. These policies can also help to create a global trade order that advances American interests. This policy brief argues that the United States needs new initiatives that discipline foreign practices, increase access to foreign markets, revitalize the World Trade Organization (WTO), improve the administrative and regulatory environment for trade, and assist workers and communities adversely affected by change.
Topic:
Economics, Globalization, International Trade and Finance, Markets, Global Recession, Monetary Policy, and Financial Crisis
Political Geography:
United States and America

398. Currency Manipulation, the US Economy, and the Global Economic Order

Author:
C. Fred Bergsten and Joseph E. Gagnon
Publication Date:
12-2012
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
More than 20 countries have increased their aggregate foreign exchange reserves and other official foreign assets by an annual average of nearly $1 trillion in recent years. This buildup of official assets—mainly through intervention in the foreign exchange markets—keeps the currencies of the interveners substantially undervalued, thus boosting their international competitiveness and trade surpluses. The corresponding trade deficits are spread around the world, but the largest share of the loss centers on the United States, whose trade deficit has increased by $200 billion to $500 billion per year as a result. The United States has lost 1 million to 5 million jobs due to this foreign currency manipulation.
Topic:
Economics, Globalization, International Cooperation, International Trade and Finance, and World Trade Organization
Political Geography:
United States

399. Europe's Single Supervisory Mechanism and the Long Journey Towards Banking Union

Author:
Nicolas Véron
Publication Date:
12-2012
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
On June 29, 2012, the heads of state and government of the 17 euro area countries issued a landmark statement that started with the sentences “We affirm that it is imperative to break the vicious circle between banks and sovereigns. The Commission will present Proposals on the basis of Article 127(6) for a single supervisory mechanism shortly. We ask the Council to consider these Proposals as a matter of urgency by the end of 2012. When an effective single supervisory mechanism is established, involving the ECB [European Central Bank] for banks in the euro area the ESM [European Stability Mechanism] could, following a regular decision, have the possibility to recapitalize banks directly” (Euro Area Summit Statement 2012). This statement was received by the investor community and the European public as marking the initial step towards a European banking union, i.e., a shift of the key instruments of banking policy from the national to the European level to enable the formation and maintenance of an integrated European banking system.
Topic:
Economics, Globalization, International Trade and Finance, and Monetary Policy
Political Geography:
Europe

400. Prospects for Services Trade Negotiations

Author:
Jeffrey J. Schott, Julia Muir, and Minsoo Lee
Publication Date:
10-2012
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
Trade and investment in services are difficult to measure, and the regulatory barriers that inhibit the free flow of services are hard to quantify. As a result, very little attention has been paid to dismantling barriers to services trade and investment. Rather, free trade negotiations tend to focus on liberalizing merchandise trade. This paper examines what has been achieved in both regional and multilateral compacts by surveying international precedents involving Asian countries in which services reforms have been included in bilateral and regional trade pacts. The authors then assess the prospects for services trade negotiations and explore how services trade negotiations could be pursued over the next decade through two distinct channels: the Trans-Pacific Partnership (TPP) and a plurilateral approach among groups of WTO countries. The authors find that in the case of developing Asia, free trade agreements have largely excluded services or have only committed to "lock in" current practices in a narrow subset of service sectors. This is also the case in agreements negotiated between developing countries, which have produced less substantial commitments to liberalize services than those negotiated between developing and developed countries. Multilateral negotiations on services have also underperformed, as substantive negotiations on services in the Doha Round never really got underway. To that end, the authors advocate a stronger effort by developing Asian countries to prioritize services negotiations in their regional arrangements and to expand coverage of services in those pacts to a broad range of infrastructure services that are included in other FTAs in force or under construction in the Asia-Pacific region.
Topic:
International Relations, Development, Economics, Globalization, International Trade and Finance, Markets, and World Trade Organization
Political Geography:
Asia