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71. ASEAN Digital Community 2045

Author:
Lili Yan Ing, Yessi Vadila, Ivana Markus, and Livia Feliciani Nazara
Publication Date:
11-2023
Content Type:
Working Paper
Institution:
Economic Research Institute for ASEAN and East Asia (ERIA)
Abstract:
Over the last decade, the Association of Southeast Asian Nations (ASEAN) has undergone significant development in digitalisation. The rapid digital transformation in ASEAN, however, has brought forth risks and challenges encompassing data security, cybersecurity, competition, and the digital divide. To effectively address these challenges and leverage the potential of the digital realm, ASEAN developed nine frameworks during 2016–2023. Yet, the focus is primarily on digital trade. We suggest that ASEAN embrace digital transformation by establishing the ASEAN Digital Community (ADC) 2045. This vision could provide guidance to Member States, enabling them to overcome regional challenges and unlock their digital potential. It is crucial for ASEAN to nurture digital development across the three key pillars: political-security, economic, and socio-cultural dimensions. The three pillars should be built on four fundamental elements: data governance, value-added enhancement, improved digital connectivity, and digital inclusivity. Through the establishment of ADC 2045, ASEAN could position itself as a significant player in the global digital economy while ensuring that digital transformation aligns with its sustainable and inclusive development agenda.
Topic:
Science and Technology, Investment, Innovation, Trade, ASEAN, Connectivity, and Competition
Political Geography:
East Asia, Asia, and Southeast Asia

72. Comparative Analysis of Hedge Funds and Mutual Funds RiskAdjusted Performances

Author:
Engin Avcı and Hind Benmahi
Publication Date:
07-2023
Content Type:
Journal Article
Journal:
AURUM Journal of Social Sciences
Institution:
Altinbas University
Abstract:
Collective investment schemes have been utilizing distinct investment strategies to exploit opportunities offered by the financial markets. Among the alternative collective investment schemes, hedge funds and mutual funds have been attracting great interest. The objective of this study is to compare the risk-adjusted performance of hedge fund strategies with mutual funds strategies. The hedge fund indexes and mutual funds indexes, which are calculated by different database providers are utilized for this purpose. In this study, the indexes from three database providers (Eurekahedge, Credit Suisse, Center for International Securities and Derivatives Markets (CISDM)) are analyzed for the 2008-2021 period using distinct performance measurement metrics as Alpha based on the Capital Asset Pricing Model (CAPM), the Sharpe ratio and Sortino ratio; moreover, the MSCI World index has been taken as a benchmark. The findings demonstrated that the majority of hedge fund indices performed better than the benchmark MSCI World and provide better risk-adjusted performance than mutual funds.
Topic:
Economy, Mutual Funds, Investment, and Hedge Funds
Political Geography:
Global Focus

73. China’s Provinces as Global Actors: Evidence from China-Africa Relations

Author:
Charlotte Lenz
Publication Date:
01-2023
Content Type:
Working Paper
Institution:
LSE IDEAS
Abstract:
With the launch in the early 2000s of China’s ‘Going Global’ Strategy, Chinese provinces became one group of actors participating in China’s South-South relations. In this Strategic Update, Charlotte Lenz investigates the role of Chinese provinces as foreign policy actors and explains their internationalisation strategies, challenging the prevalent perception of China as a unitary actor on the world stage. Drawing on evidence from Africa-China relations, the report identifies two strategies employed by Chinese provinces in pursuit of their foreign policy interests: (1) Formal and informal “twinning” as a collaborative model between central and local actors, wherein central actors design policies and provincial governments execute projects; (2) and “clustering” according to a sectoral logic of investment and diplomacy in which a certain Chinese province engages a certain foreign country. Despite ongoing bureaucratic centralisation under Xi Jinping, provinces continue to pursue their own internationalisation strategies to help meet local economic and employment targets. Understanding their agency, interests and limitations is thus key to deriving a better understanding of China’s evolving global presence.
Topic:
Foreign Policy, Diplomacy, Bilateral Relations, Investment, and Internationalization
Political Geography:
Africa, China, and Asia

74. What Combination of Features Are Associated With Scalable and Sustainable Last-Mile Service Delivery Models? A Qualitative Comparative Analysis

Author:
Siddhant Gokale and Ojas
Publication Date:
10-2023
Content Type:
Working Paper
Institution:
The John F. Kennedy School of Government at Harvard University
Abstract:
This study explores the features of successful last-mile service delivery models for the poor. We define success in terms of two main outcomes — the scale of impact and the sustainability of the business model. Through a Qualitative Comparative Analysis (QCA) of 35 organizations across a variety of sectors, such as agriculture, health, education, finance, energy, and water and sanitation, we arrive at a two-fold conclusion about the most prevalent combination of business model features associated with scale and sustainability. For achieving scale, a combination of four features was sufficient (but not necessary) — a pull product, an asset-light capital investment strategy, a narrow customer base, and a vertically integrated business model. For achieving sustainability, a wide customer base was sufficient (but not necessary). Together, these reveal a tradeoff between sustainability and scaling, especially around customer segments. The QCA is supplemented by an in-depth qualitative case study analysis of three selected organizations to uncover additional factors behind the success of alternate models that deviate from the QCA results. We find that clarity in vision, blending technology with people, evidence-driven decision-making and adaptive learning, and strong value propositions for multiple stakeholders were key characteristics of successful last-mile delivery models with features different from the QCA conclusions.
Topic:
Economy, Business, Investment, and Sustainability
Political Geography:
Global Focus

75. Beyond Arms and Ammunition: China, Russia and the Iran Back Channel

Author:
Sine Ozkarasahin
Publication Date:
03-2023
Content Type:
Journal Article
Journal:
China Brief
Institution:
The Jamestown Foundation
Abstract:
Along with Iran’s increasing involvement in supplying Russia’s war effort against Ukraine, a potential increase in Chinese support for Russia presents a challenge for both Kyiv and NATO (Eurasia Daily Monitor, March 6). Indeed, Western governments have recently expressed alarm over China’s potential provision of dual-use or military equipment to Russia (U.S. Department of Defense, February 28). According to U.S. intelligence, Chinese arms transfers to Russia would probably take the form of artillery and drones (Straits Times, February 26). As both items are badly needed by Russia to sustain its war efforts, the entry of Chinese arms on the Ukrainian battlefield may drastically shift the balance of power in the ongoing conflict. However, in addition to trackable military aid packages, Chinese assistance is manifesting itself more subtly in ways that are often overlooked. Consequently, a forthcoming Chinese aid package to Russia is likely to take several forms.
Topic:
International Relations, Foreign Policy, Diplomacy, Arms Trade, and Investment
Political Geography:
Russia, China, Iran, Eurasia, Middle East, and Asia

76. China-Pakistan Economic Corridor: Socio-Cultural and Political Implications for Pakistan Amid Covid19 and the Way Forward

Author:
Mubeen Adnan and Reema Murad
Publication Date:
07-2023
Content Type:
Journal Article
Journal:
Journal of Political Studies
Institution:
Department of Political Science, University of the Punjab
Abstract:
Through the ‘game changer’ project of China Pakistan Economic Corridor, China is aiming to stabilize its western part by promoting investment and economic development in its neighbour to the West, Pakistan, which will lead to a boost in the Pakistani economy through investments in infrastructure and construction of gas and oil pipeline. There is also the aim of reducing extremism in the Xinjiang region. However, there are several social, cultural and political changes that the project has the potential to bring about in Pakistan. This research work has made an attempt to understand the variousimplications of the China Pakistan Economic Corridor on Pakistan as well as how the COVID-19 pandemic impacted CPEC and the path ahead as the world slowly transitions out of COVID-19. This research paper has used secondary sources in order to answer these pertinent topics. Major opportunities which Pakistan and China have gained through this ChinaPakistan economic Corridor as well as some challenges are also discussed.
Topic:
Economics, Bilateral Relations, Investment, Economic Development, COVID-19, and Opportunity
Political Geography:
Pakistan, China, South Asia, and Asia

77. An EU global gateway … to what?

Author:
Fanny Sauvignon and Stefania Benaglia
Publication Date:
11-2023
Content Type:
Commentary and Analysis
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
What is Global Gateway’s unique offer? How does it beat the competition? Why is Global Gateway a values-based offer and what does this entail in practical terms? Amid criticism and comparisons, the EU’s Global Gateway deserves scrutiny and effort to define its purpose and added value, both within and outside the EU. Initially designed as a foreign policy strategy, Global Gateway has not been put to its intended use. Instead, the first two years of implementation have highlighted conceptual and structural challenges that fall short of the EU’s international needs and ambitions. Up to now, it has focused on delivery, namely Team Europe, flagship projects, and investment packages. The EU’s projected power and credibility with its international partners is at stake. However, trusted and resilient connectivity links are difficult to build without putting the foreign policy versus development debate to rest. Differentiating the EU’s offer from its competitors and addressing dwindling credibility requires strong and coherent international leadership. As this CEPS Explainer outlines, resources aggregation approach ‘à la IMEC’, holds the potential to better connect narrative to implementation and build the EU’s external power. Developing on from this, the strategic connectivity clusters (SCCs) approach streamlines international connectivity cooperation.
Topic:
Foreign Policy, European Union, Investment, and Engagement
Political Geography:
Europe

78. Art in Dialogue with Nature: An Exploration of Saudi Arabia’s New Valley of the Arts

Author:
Iwona Blazwick, Manal Al Dowayan, and Kate Seelye
Publication Date:
06-2023
Content Type:
Video
Institution:
Middle East Institute (MEI)
Abstract:
Wadi AlFann ('Valley of the Arts') is a new global cultural destination in Saudi Arabia, where monumental contemporary artworks are being commissioned for AlUla’s majestic desert landscape. Curator Iwona Blazwick and participating Saudi artist Manal Al Dowayan speak with MEI's Senior Vice President Kate Seelye about Wadi Al Fann's permanent art commissions and the impact of the Kingdom's investment in the arts as part of Saudi Vision 2030 on local communities and the international art scene.
Topic:
Arts, Culture, and Investment
Political Geography:
Middle East and Saudi Arabia

79. Maximising the impact of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP)

Author:
Vincent Obisie-Orlu
Publication Date:
12-2023
Content Type:
Policy Brief
Institution:
Good Governance Africa (GGA)
Abstract:
This briefing assesses South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). It acknowledges programme achievements while addressing challenges, including delays to the procurement process and financial issues facing REIPPPP projects. It underscores the necessity for electricity industry reform and more cohesive energy policies. It proposes changes to how investment decisions are made, and collaboration occurs alongside the REIPPPP process to promote private sector investment, develop localisation within the REIPPPP and reduce supply chain vulnerabilities. Lastly, it provides a thorough analysis to inform recommendations that will maximise REIPPPP’s role in realising South Africa’s energy objectives.
Topic:
Reform, Finance, Investment, Electricity, Renewable Energy, and Procurement
Political Geography:
Africa and South Africa

80. Investing in inclusive governance yields dividends in Africa

Author:
Pranish Desai, Monique Bennett, Nnaemeka Ohamadike, and Chrissy Dube
Publication Date:
06-2023
Content Type:
Special Report
Institution:
Good Governance Africa (GGA)
Abstract:
Over the long term, there is a clear association between accountable and inclusive governance on the one hand and broad-based economic development on the other.1 We find empirical support for this assessment at the global, African, and regional levels within Africa across both shorter and more extended periods of time. The explanation is that a long-term governance environment which embraces accountability is also more politically stable, enabling consistent policymaking, which can sustain economic dynamism and meet citizens’ needs. Concerningly, there are African countries, including Angola, which have recently sought to repress rather than encourage participation. This has been one contributing factor to the recent stagnation and reversals which Angola has experienced in critical measures of human development pertaining to education, health and economic outcomes. This intelligence report identifies the critical implications that this finding has for companies with committed financial interests in African countries: • The importance of inclusive governance is that a more participatory, accountable and nondiscriminatory society will also see corresponding improvements in broad-based economic development, which benefits businesses and citizens in tandem. • The private sector has both an incentive and a responsibility to actively invest in mechanisms that encourage accountable governance in African countries where they operate. Investing in these mechanisms minimises the reputational risk companies open themselves up to by engaging in opportunistic behaviour which bolsters rather than blocks repressive behaviour by African governments. • Through supporting inclusive governance initiatives emanating from African civil society and local communities, companies can demonstrate that they have a long-term commitment to fostering economic development in the world’s fastest-growing continent.
Topic:
Governance, Investment, Economic Development, Private Sector, and Inclusion
Political Geography:
Africa