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551. Hard Times: the World Economic Crisis and Emerging Capacity Challenges for Africa

Author:
George Kararach
Publication Date:
01-2011
Content Type:
Working Paper
Institution:
The African Capacity Building Foundation (ACBF)
Abstract:
The world economy has changed significantly in recent times. With greater financial globalisation, there emerged a mistaken perception that 'fathomless' capital was a pattern of this 'new world'. It soon became apparent that the recent financial crisis was a result of fragility in the financial system – in turn a product of limited/lack of transparency in the system. There has been limited understanding as to how the financial markets work – not only in the developing world where skills are in short supply – but more importantly by officials in the United States of America (US), European Union (EU) and Japan despite the fact that these blocks form 80% of global gross domestic product (GDP). The paper sheds light on the implications for capacity building/development in Africa given the realities of the New Economic World order – especially new finance regulation issues, new international competition, crisis exit strategies and future technologies. The paper also draws possible roles that can be played by capacity building institutions such as the African Capacity Building Foundation (ACBF) by highlighting four major areas: (a) how the Foundation sources new ideas for capacity development; (b) what approaches to use for resource mobilization and partnerships; (c)howbest to organize the work of the Foundation in knowledge sharing; and (d) what aspects need to shift in the operational programs of the Foundation to handle emerging issues. The paper concludes that Africa needs to develop capacity to respond to shocks effectively.
Topic:
Globalization, Reform, Partnerships, Crisis Management, Capacity, Economic Development, Socioeconomics, Economic Crisis, and Fragility
Political Geography:
Africa

552. The Challenges of Knowledge Harvesting and the Promotion of Sustainable Development for the Achievement of the MDGs in Africa

Author:
Kobena Hanson and George Kararach
Publication Date:
01-2011
Content Type:
Working Paper
Institution:
The African Capacity Building Foundation (ACBF)
Abstract:
In the present global economy, knowledge production is taking place at a fast pace. Knowledge is also becoming obsolete rapidly. For Africa to compete globally, it is imperative that it not only has access to global knowledge, but more importantly, it needs to harvest and harness existing local knowledge systematically. While a wealth of information and knowledge exists on the continent thus shaping local development daily, such knowledge tends to be fragmented and often inaccessible to local development partners. Drawing on the ACBF's operational experience, this article argues that seeking ways to creatively make this knowledge readily accessible to key decision/policy-makers is central to managing innovation, promoting sustainable development and the achievement of the MDGs in Africa.
Topic:
Globalization, Millennium Development Goals, Sustainable Development Goals, Capacity Building, and Knowledge Management
Political Geography:
Africa

553. Emerging from Crisis: the Mediterranean Neighborhood

Author:
Leonor Coutinho
Publication Date:
01-2011
Content Type:
Working Paper
Institution:
Center for Social and Economic Research - CASE
Abstract:
"The financial crisis engulfed the entire world economy, but the impact was uneven across many regions and countries. Due to a lower degree of financial integration, many developing countries seem to have been far less affected. This apparent resilience has been observed among several of the EU's Mediterranean (MED) neighborhood countries. However, the region's underdeveloped financial markets may yet prove to be a long-term economic curse."
Topic:
Development, Globalization, Financial Crisis, European Union, Macroeconomics, and Trade
Political Geography:
Europe and Mediterranean

554. European Debt Crisis: What Is The Way Out

Author:
Charles Wyplosz
Publication Date:
03-2011
Content Type:
Working Paper
Institution:
Center for Social and Economic Research - CASE
Abstract:
"The current European debt crisis is just bringing to the fore well-defined cracks in the Eurozone’s construction. Fiscal discipline was left in the careless hands of national governments, banking regulation and supervision was delegated to national authorities more interested in promoting national champions than in completing the Single Market. Moreover, crisis management was masterminded not by the Commission but by national governments. This leaves panicked policymakers with the firm view that economics is largely useless and that any policy can be pursued if it makes good political sense."
Topic:
Debt, Globalization, Markets, Macroeconomics, and Economic Integration
Political Geography:
Europe

555. How can Trade Help to Rebuild and Enhance the Economies of the Southern Mediterranean Countries?

Author:
Ahmed Ghoneim
Publication Date:
08-2011
Content Type:
Special Report
Institution:
Center for Social and Economic Research - CASE
Abstract:
"Arab countries are experiencing major changes in their governance systems. While the features of the new era are still unclear, what is certain is that a new development paradigm will be adopted and significant efforts will be made to rebuild the economies of these countries, which have been seriously disrupted due to the revolutions and their aftermath. This article seeks to answer the question of how trade can play a significant positive role in rebuilding and enhancing the economies of these Southern Mediterranean Countries."
Topic:
Globalization, Governance, Trade, and Economic Integration
Political Geography:
North Africa and Mediterranean

556. Where was united Africa in the climate change negotiations?

Author:
Jean-Christophe Hoste
Publication Date:
02-2010
Content Type:
Policy Brief
Institution:
EGMONT - The Royal Institute for International Relations
Abstract:
A political commitment was reached in Copenhagen between five countries: US, China, India Brazil and South Africa. The rest of the conference simply “took note of it”, most with resignation, many with anger. This policy brief will have a closer look at the climate change negotiations from an African perspective. It will try to answer three questions to see whether the outcome of the negotiations was as unacceptable as South Africa said it was. First, what was the African Common Position and what were some of their demands? Second, how did the negotiating strategy to defend the African Common Position on climate change evolve? Third, why did South Africa call the agreement it negotiated with the US, China and India unacceptable but did it not decline to be part of that deal?
Topic:
Climate Change, Environment, Globalization, International Cooperation, Politics, and Treaties and Agreements
Political Geography:
United States, China, India, South Africa, and Brazil

557. Financial Globalization and Monetary Policy

Author:
Steven B. Kamin
Publication Date:
06-2010
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
This paper reviews the available evidence and previous research on potential effects of financial globalization, that is, the international integration of financial markets. In particular, we address the questions: Has financial globalization materially increased the influence of external developments on domestic monetary conditions? And, has it reduced the influence of central banks over financial and economic conditions in their own country? We find that central banks with floating currencies retain the ability to independently determine short-term interest rates and thus influence broader financial conditions and macroeconomic performance in their economies. However, domestic financial conditions appear to have become more vulnerable to a wide range of external shocks, complicating the task of making appropriate monetary policy decisions. Moreover, the financial crisis has highlighted the importance of cross-border channels for the transmission of liquidity and credit shocks. With financial transactions increasingly being undertaken in vehicle currencies such as dollars and euros, the liquidity provision and the lender-of-last resort functions of many central banks are being challenged. Accordingly, international arrangements for liquidity provision may become increasingly important in the future.
Topic:
Economics, Globalization, International Cooperation, Monetary Policy, and Interest Rates
Political Geography:
Global Focus

558. U.S. BITs and financial stability

Author:
Kevin P. Gallagher
Publication Date:
02-2010
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Almost immediately after taking office, the Obama administration charged the U.S. Department of State's Advisory Committee on International Economic Policy with reviewing the U.S. Model bilateral investment treaty (BIT). The group established a sub-committee of business groups, labor and environmental organizations, and a handful of academic experts and tasked it to make official recommendations for reforming U.S. investment treaties. When completed, the Obama Administration hopes to proceed with official negotiations with China, India, Vietnam, and possibly Brazil.
Topic:
Economics, Globalization, and Financial Crisis
Political Geography:
United States, China, India, Brazil, and Vietnam

559. Rescuing Education for All: How reform of the Fast Track Initiative should lead to a Global Fund for Education

Author:
Katie Malouf Bous
Publication Date:
01-2010
Content Type:
Policy Brief
Institution:
Oxfam Publishing
Abstract:
The first decade of our new millennium was poised to go down in history as a hopeful turning point for the world's children. Remarkable progress was being forged across the developing world, spurred by a new global commitment to the Education For All (EFA) goals. These goals were answered by substantial increases in aid during the first half of the decade, extensive debt relief, and a growing political commitment to education in developing countries. The EFA Fast Track Initiative was also establ ished in 2002 as a global partnership to support national efforts to reach universal primary education.
Topic:
Development, Education, Globalization, and Financial Crisis

560. Confronting the Long Crisis of Globalization

Author:
Alex Evans, Bruce Jones, and David Steven
Publication Date:
01-2010
Content Type:
Working Paper
Institution:
Center on International Cooperation (CIC)
Abstract:
Globalization has entered a turbulent period. Over the past twenty years, the most significant threats to international security, stability, and prosperity have evolved rapidly. Global systems are now tightly interconnected, with risk proliferating freely across borders.
Topic:
Debt, Globalization, and Financial Crisis
Political Geography:
Russia, China, and India