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862. Economic Crisis and Corporate Reform in East Asia
- Author:
- Meredith Woo-Cumings
- Publication Date:
- 06-2000
- Content Type:
- Working Paper
- Institution:
- Council on Foreign Relations
- Abstract:
- The Asian financial crisis of 1997–98 involved, among other things, a failure of regulation. Some believe this failure is endemic to global capitalism, and others believe it was profoundly local and idiosyncratic, emanating from regulatory flaws in the affected countries, stretching an arc from Thailand and Indonesia to Korea and Japan. There is also a debate about the nature of the regulation that failed. Some argue that the crisis emanated from a surfeit of nettlesome regulations and endemic industrial policy; others claim it happened for want of effective regulations and (even) industrial policy. Across the hypotenuse of these disagreements, however, stretches a universal recognition that regulatory infrastructure and institutions do matter and that they must play a major role in the way we think about economic development. After the miracle years in East Asia, “good governance” has become the Spirit of the Age.
- Topic:
- Economics and Political Economy
- Political Geography:
- United States, Japan, Indonesia, Israel, East Asia, Asia, Korea, and Thailand
863. The Paradox of Free Market Democracy: Indonesia and the Problems Facing Neoliberal Reform
- Author:
- Amy L. Chua
- Publication Date:
- 06-2000
- Content Type:
- Working Paper
- Institution:
- Council on Foreign Relations
- Abstract:
- This paper will situate the recent problems in Indonesia in a more general framework that I will call the paradox of free-market democracy. The basic thesis I will advance is as follows. In Indonesia, as in many developing countries, class and ethnicity overlap in a distinctive and potentially explosive way: namely, in the form of a starkly economically dominant ethnic minority—here, the Sino-Indonesians. In such circumstances, contrary to conventional wisdom, markets and democracy may not be mutually reinforcing. On the contrary, the combined pursuit of marketization and democratization in Indonesia may catalyze ethnic tensions in highly determinate and predictable ways, with potentially very serious consequences, including the subversion of markets and democracy themselves. The principal challenge for neoliberal reform in Indonesia will be to find institutions capable of grappling with the problems of rapid democratization in the face of pervasive poverty, ethnic division, and an historically resented, market-dominant “outsider” minority.
- Topic:
- Economics and Political Economy
- Political Geography:
- United States, Israel, and East Asia
864. Basic Principles of Sustainable Development
- Author:
- Jonathan Harris
- Publication Date:
- 06-2000
- Content Type:
- Working Paper
- Institution:
- Global Development and Environment Institute at Tufts University
- Abstract:
- Great ideas are usually simple ideas. While the specific analysis of any important topic will necessarily involve complexity and subtlety, the fundamental concepts which underlie powerful paradigms of thought are usually relatively straightforward and easy to grasp. In the area of social science, ideas which affect millions of people and guide the policies of nations must be accessible to all, not just to an elite. Only thus can they permeate institutions from the local to the global level, and become a part of the human landscape, part of the fabric within which we define our lives.
- Topic:
- Development, Economics, Globalization, International Trade and Finance, and Political Economy
865. Making Sense of Environmental Security
- Author:
- Frank McNeil
- Publication Date:
- 02-2000
- Content Type:
- Working Paper
- Institution:
- The North-South Center, University of Miami
- Abstract:
- The concept of environmental security—even after more than two decades of discussion—has no widely agreed-upon formulation. However, in the metaphor used by environmentalists, environmental security can be a “canary in the mine,” signaling conflicts within nations and across borders. While environmental insults may foster violence, conflicts short of war also impose high costs, wreaking damage to economies, to societal stability, to the effectiveness of political institutions, and to international cooperation. Recent examples of such conflicts and their costs can be seen in locales as diverse as the Western Hemisphere and Southeast Asia (for example, in Guatemala, the Philippines, Colombia, Indonesia, and Nicaragua's maritime and riparian disputes with Honduras and Costa Rica).
- Topic:
- Security, Development, Environment, and Political Economy
- Political Geography:
- Central America and Caribbean
866. Mexico — Overheating Arguments
- Author:
- Caspar Fithin
- Publication Date:
- 10-2000
- Content Type:
- Policy Brief
- Institution:
- Oxford Analytica
- Abstract:
- The recommendation reflects a conflict between the bank and the finance ministry over whether or not the economy is overheating. Increasingly, the conflict is being fought in public circles after months of low-key clashes. The uncharacteristic rift between the monetary and fiscal authorities is likely to widen over the final two months of the Zedillo administration, as signs of overheating continue to accumulate. While pressure for a substantial fiscal adjustment is likely to be irresistible when Fox takes over on December 1, concerns are growing regarding his capacity to execute such a policy.
- Topic:
- Economics, Government, Political Economy, and Politics
- Political Geography:
- North America and Mexico
867. Asia Pacific -- Reform Politics
- Author:
- Oxford Analytica
- Publication Date:
- 03-2000
- Content Type:
- Policy Brief
- Institution:
- Oxford Analytica
- Abstract:
- While the region has now emerged from recession, economic reforms remain incomplete and politically contentious. There is a risk that complacency and intransigence will weaken the momentum behind reforms before their full benefits can be felt. For countries not immediately enveloped by it, the East Asian crisis laid bare the risks associated with postponing economic reform without necessarily producing change.
- Topic:
- Economics, Political Economy, and Politics
- Political Geography:
- East Asia
868. The Political Economy of Open Source Software
- Author:
- Steven Weber
- Publication Date:
- 06-2000
- Content Type:
- Working Paper
- Institution:
- Berkeley Roundtable on the International Economy
- Abstract:
- Coca-Cola sells bottles of soda to consumers. Consumers drink the soda (or use it in any other way they like). Some consumers, out of morbid curiosity, may read the list of ingredients on the bottle. But that list of ingredients is generic. Coca-Cola has a proprietary 'formula' that it does not and will not release. The formula is the knowledge that makes it possible for Coke to combine sugar, water, and a few other readily available ingredients in particular proportions and produce something of great value. The bubbly stuff in your glass cannot be reverse-engineered into its constituent parts. You can buy it and you can drink it, but you can't understand it in a way that would empower you to reproduce it or improve upon it and distribute your improved cola drink to the rest of the world.
- Topic:
- International Law, Political Economy, and Science and Technology
869. Composite Indexes of Leading, Coincident, and Lagging Indicators: December 2000
- Publication Date:
- 12-2000
- Content Type:
- Policy Brief
- Institution:
- The Conference Board
- Abstract:
- The leading index declined 0.6 percent, the coincident index increased 0.1 percent, and the lagging index declined 0.1 percent in December. Taken together, the three composite indexes and their components show an increasing risk of a downturn in economic activity. The slowdown of the Leading Index is primarily a result of the sustained inverted yield curve, shorter manufacturing hours brought about by tapering consumer demand, and loss of confidence on the part of both business executives and consumers in the future direction of the economy. Since reaching a peak in September, the Coincident Index remains fairly flat, consistent with a moderation in the pace of economic activity. The six-month change of the Leading Index has been declining for 7 consecutive months with the most recent two months having declined over one percent. Prior to these past seven months, the last time the Leading Index posted a decline in the six-month change was in August of 1995.
- Topic:
- Economics and Political Economy
870. Composite Indexes of Leading, Coincident, and Lagging Indicators: November 2000
- Publication Date:
- 11-2000
- Content Type:
- Policy Brief
- Institution:
- The Conference Board
- Abstract:
- The leading index decreased by 0.2 percent, the coincident index increased by 0.1 percent, and the lagging index increased by 0.3 percent in November. Taken together, the three composite indexes and their components show an increasing risk of a downturn in economic activity ahead. Since the high of 106.3 in January of this year, the Leading Index was down in eight of the past ten months. This is in sharp contrast to a 1.5 to 2 percent gain annually in the previous three years. The coincident to lagging ratio, which also tends to lead business cycle peaks, reached a high of 110.3 last March and has declined to 109.3 in November. A decrease in the ratio means a sharper increase in the Lagging Index, which measures the cost of doing business, relative to the Coincident Index. A further, more dramatic weakening of the Leading Index in the next few months, together with a continued decline in the coincident to lagging ratio, would confirm the danger of a downturn.
- Topic:
- Economics and Political Economy