Search

Begin New Search Topic Political Economy Publication Year within 25 Years

631. Economic Survey of Switzerland, 2003

Publication Date:
01-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
Although trend growth of GDP has been meagre for two decades (1.25 per cent against 2.75 per cent for the OECD average), per capita income in Switzerland remains among the highest in the OECD. In recent years, output growth was less resilient than in most other OECD countries, with the economy being in recession during the first semester of 2003. This is partly due to the global slump in the financial and capital goods sectors which are very important for the Swiss economy, but the unsatisfactory growth performance is largely attributable to the timid pace of structural reforms over many years. Against this background, there are three major challenges for economic policy.
Topic:
Agriculture, Economics, Environment, Human Rights, International Organization, and Political Economy
Political Geography:
Switzerland

632. Economic Survey of Hungary, 2004

Publication Date:
01-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
For Hungary to maintain strong growth, macroeconomic policy has to aim for sound and sustainable public finances, low inflation and maintaining the competitiveness of its FDI-driven export sector. Fiscal consolidation has to focus on lasting structural reforms, which bring down the volume of government expenditure in a sustainable way. Revenue increases buy time for the 2004 budget, but thistime has to be used to implement measures that will durably reduce spending in a medium-term framework. The difficult balancing act for monetary policy between achieving inflation targets and steering the exchange rate for entry into the euro zone could be made easier if fiscal targets are achieved. The move to base future budgets on the joint inflation target is a welcome step to improve co-ordination between the government and the Central Bank and should be continued. In wage setting, the indicative wage guidelines should be used to communicate disinflation in the runup to EMU, and thereby limit the risk of unintended real wage increases. Wage moderation should also be assisted by measures which increase the supply responsiveness of labour. Any room created for tax cuts should be used to reduce Hungary's large tax wedge on labour, which interacts negatively with some social benefit programmes. Large regional disparities should be addressed by measures which increase labour mobility and broaden investment across regions through further improved infrastructure. Business conditions can be further improved by addressing the low level of competition in some network industries and more generally improving the conditions for market entry in the domestic sector. The considerable costs of programmes to reduce the emission of greenhouse gases and also more local air pollutants could be reduced with the wider application of economic instruments. Hungary will only be able to reap the full benefits of European Union accession and EMU entry if it establishes a sound macroeconomic framework, boosts labour force participation and sustains high productivity growth.
Topic:
Agriculture, Economics, Environment, Human Rights, International Organization, and Political Economy
Political Geography:
Hungary

633. Science and Innovation Policy: Key Challenges and Opportunities

Publication Date:
01-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
Science and technology exert a growing influence on society and the economy. Scientific achievements continue to expand the frontiers of knowledge and increasingly contribute to the technological progress that affects how people live and work. New science-based technologies help protect the environment, build safer homes, schools and factories, and develop energy- saving transport systems. Advances in genetics save lives and improve health standards throughout the world. Industries based on new technologies employ millions of highly skilled workers in the OECD and beyond. Information and communications technologies (ICT) have enhanced their productivity and made it possible for a greater number of individuals, firms and countries to take part in the knowledge-based economy.
Topic:
Agriculture, Economics, Environment, Human Rights, International Organization, and Political Economy

634. Economic Survey of the United Kingdom, 2004

Publication Date:
01-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
The performance of the UK economy has been impressive in recent years, underpinned by wide-ranging structural reforms and sound macroeconomic policy frameworks. The OECD projects growth above potential in 2004 and 2005, with unemployment remaining low, but instability stemming from the housing market is a risk. Monetary policy should continue to tighten to reduce future inflationary pressures and the risk of a further sharp rise in house prices from becoming a potential source of fragility. At the same time, the current rigidity of house supply should be eased by reforming land planning, while a reform of the regressive council tax could help to reduce the risk of housing market instability. Over the projection period, government spending will continue to rise as a share of GDP, reflecting the government's ambitious targets in priority areas. Slowing spending growth may be warranted on efficiency grounds: bottlenecks have become apparent, while time is needed to pilot new innovative approaches. More generally, getting incentives right is essential to meet the ambitious service targets. Slowing spending growth would also benefit the public finances. An income-contingent contribution scheme for university graduates is an equitable way forward; other forms of user charges not compromising equity concerns could improve efficiency. Both are preferable to raising taxes. Trend growth has already been boosted by the sharp decline in structural unemployment, but measures are still needed to reduce the number of inactive, especially those on incapacity benefit. While educational performance of students has risen, policy needs to further address the lack of vocational skills as one element in a strategy to reduce the productivity gap with the best performers elsewhere. In this respect, competition is also important. The government has strengthened the competition framework and active enforcement along with the market studies of the Office of Fair Trading and the Competition Commission's market investigations should help to ensure that markets become more competitive. However, planning restrictions and market power are a problem in the retail sector and industry regulators will need to remain vigilant in the electricity, gas and telecom sectors. Ensuring macroeconomic stability, while addressing the remaining weaknesses through further structural reforms offers the prospect of continuing strong economic performance.
Topic:
Agriculture, Economics, Environment, Human Rights, International Organization, and Political Economy
Political Geography:
United Kingdom

635. The Great Inflation of the 1970s

Author:
Fabrice Collard and Harris Dellas
Publication Date:
04-2004
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
Was the high inflation of the 1970s mostly due to incomplete information about the structure of the economy (an unavoidable mistake as suggested by Orphanides, 2000)? Or, to weak reaction to expected inflation and/or excessive policy activism that led to indeterminacies (a policy mistake, a scenario suggested by Clarida, Gali and Gertler, 2000)? We study this question within the NNS model with policy commitment and imperfect information, requiring that the model have satisfactory overall empirical performance. We find that both explanations do a good job in accounting for the great inflation. Even with the commonly used specification of the interest policy rule, high and persistent inflation can occur following a significant productivity slowdown if policymakers significantly and persistently underestimate ”core” inflation.
Topic:
Economics, International Trade and Finance, and Political Economy
Political Geography:
United States

636. How Revolutionary is the Revolution: Will there be a “Political Economy” of the Digital Era?

Author:
John Zysman and Abe Newman
Publication Date:
03-2004
Content Type:
Working Paper
Institution:
Berkeley Roundtable on the International Economy
Abstract:
The purpose of this paper is to consider whether there is a political economy of a digital era. Our concern is how the digital revolution influences the role of the State in society and the economy and the politics that surround it? In the spring of 2000 in the midst of the stock boom we would have as ked: “Is the extraordinary expansion of computing intelligence, the pervasive spread of digital networks, and the recent arrival of the commercial Internet, the edge of an historical revolution, a transformation?” Data networks had existed for decades and Business to Business commerce (B2B) had been conducted over these networks for years. But the sudden interconnection of disparate networks into a single “cyber world”, and broad consumer participation in those networks through vehicles such as AOL seemed to augur a new era. The pace at which individuals, not just firms, were being connected to the Internet in the United States was explosive. Businesses were reorganizing and extending intern al activities to capture the possibilities of the network of networks. Together the Internet's rapid build out encouraged the fantasy that the new information network technologies could, in themselves, transform the terms of competition and restructure a broad range of the economy. By the summer of 2003, the conventional question had become different: “Was this the revolution that never happened, the dreams evaporating with stock values, first during the dot com collapse and then in the telecoms debacle?” Did the digital revolution have more in common with tulip speculation, a pure ephemera, than the railroad expansion and transportation revolution that created and destroyed individual fortunes. Of course, the industrial revolution di d not end with the first textile company failures, nor does the digital revolution end with the dot com collapse.
Topic:
Economics, International Trade and Finance, Political Economy, and Science and Technology
Political Geography:
United States

637. The Political Economy of Regionalism: Current Theorizing and Preliminary Observations on the G-3 FTA

Author:
Antonio Ortiz Mena López Negrete
Publication Date:
12-2004
Content Type:
Working Paper
Institution:
Centro de Investigación y Docencia Económicas
Abstract:
This working paper provides and overview of current theorizing on the political economy of regional integration. Specifically, it assesses several theories that attempt to explain the causes behind the resurgence or regionalism in the late 1980's and early 1990's with special emphasis on Milner's demand-driven theory based on demands for regionalism by firms with internal increasing returns to scale. After reviewing the main propositions of the theories in light of the G-3 Free Trade Agreement, it finds that no single theory adequately accounts for the causes behind the establishment of the agreement, that Milner's model is better at specifying preferences than outcomes, and that greater attention should be paid to the institutional forms of regional integration agreements.
Topic:
Economics, Industrial Policy, Political Economy, and Regional Cooperation

638. Malaysia And The United States: Rejecting Dominance, Embracing Engagement

Author:
Helen E.S. Nesadurai
Publication Date:
12-2004
Content Type:
Working Paper
Institution:
Centre for Non-Traditional Security Studies, S. Rajaratnam School of International Studies
Abstract:
This paper explains Malaysia-US relations in terms of national interests derived from the nature of the Malaysian political economy and the salience of Islam in Malay(sian) politics as they interact with US foreign policy postures derived from distinct US grand strategies. The paper compares Malaysia's responses to the US under the Clinton and the first George W. Bush Administrations in terms of the following: (a) instances of cooperation and non-cooperation on key US initiatives; (b) pursuit of alternative economic and defence/security relationships; and (c) construction of alternative discourses and coalitions aimed at challenging US initiatives and its hegemony more broadly. Malaysia's responses to the US can be summed up in the phrase, 'rejecting dominance, embracing engagement', evident during both the Clinton and the Bush Administrations and consistent under the Mahathir and the current Abdullah Badawi governments. The Malaysian government's attempts to develop coalitions to challenge US initiatives and its hegemony have not alwyas been successful. The government has, nonetheless, stood firm and rejected US initiatives and actions that directly threatened national interests. The US, on its part, has accommodated itself to Malaysia's positions on a number of occasions since September 11, reflecting Malaysia's valuable role in Washington's fight against terrorism. Both governments also cooperation extensively in economics, defence and transnational crime from which both parties draw benefits.
Topic:
Foreign Policy and Political Economy
Political Geography:
United States, Malaysia, and Southeast Asia

639. Examining The Defence Industrialization - Economic Growth Relationship:The Case Of Singapore

Author:
Adrian Kuah and Bernard Loo
Publication Date:
06-2004
Content Type:
Working Paper
Institution:
Centre for Non-Traditional Security Studies, S. Rajaratnam School of International Studies
Abstract:
This paper examines the process and political economy of defence industrialization in Singapore. It frames the emergence and evolution of Singapore's defence industrial base in the broader context of both the development of the Singapore Armed Forces (SAF) and Singapore's defence and strategic policy since independence. The first half of the paper traces the trajectory of defence industrialization, examining and problematizing the linkages between defence spending and economic development.
Topic:
Defense Policy, Industrial Policy, and Political Economy
Political Geography:
Israel and Singapore

640. The Failure of Reform in Uzbekistan: Ways Forward for the International Community

Publication Date:
03-2004
Content Type:
Working Paper
Institution:
International Crisis Group
Abstract:
Uzbekistan occupies a key strategic position in Central Asia and has a strong security relationship with the U.S. but its political system is highly repressive and its economy is barely reformed since Soviet times. Economic decline and political sclerosis threaten internal stability and undermine regional security. The international community has long urged political and economic reform, but with little success. With no significant progress on either front in 2003, it is time for the U.S., the EU and international financial institutions to begin to shift policies: reducing lending and assistance to the central government, while increasing engagement with society and the private sector.
Topic:
Government, Human Rights, and Political Economy
Political Geography:
United States, Central Asia, and Uzbekistan