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1331. Assessing the Single Supervisory Mechanism: Passing the point of no return for Europe's Banking Union

Author:
Stijn Verhelst
Publication Date:
06-2013
Content Type:
Working Paper
Institution:
EGMONT - The Royal Institute for International Relations
Abstract:
Europe's financial and sovereign debt crises have become increasingly interconnected. In order to break the negative feedback loop between the two, the EU has decided to create a common supervisory framework for the banking sector: the Single Supervisory Mechanism (SSM). The SSM will involve a supervisory system including both the national supervisors and the European Central Bank (ECB). By endowing the ECB with supervisory authority over a major part of the European banking sector, the SSM's creation will result in a shake-up of the way in which the European financial sector is being supervised. Under the right circumstances, this could be a major step forward in addressing Europe's interconnected crises.
Topic:
Debt, Economics, Regional Cooperation, Monetary Policy, and Financial Crisis
Political Geography:
Europe

1332. Money for Structural Reforms in the Eurozone:making sense of contractual Arrangements

Author:
Xavier Vanden Bosch
Publication Date:
05-2013
Content Type:
Working Paper
Institution:
EGMONT - The Royal Institute for International Relations
Abstract:
Both the Commission's proposal for a 'Competitiveness and Convergence Instrument' and the 'contractual arrangement' presented by President Van Rompuy share a common concept: associating EU money with national structural reforms under a binding arrangement.
Topic:
Economics, Markets, Regional Cooperation, Labor Issues, Monetary Policy, and Reform
Political Geography:
Europe

1333. New Meeting Note: Security and Development in the Sahel-Sahara

Author:
Mireille Affa'a-Mindzie
Publication Date:
10-2013
Content Type:
Working Paper
Institution:
International Peace Institute
Abstract:
After the severe twin crises that nearly brought Mali to its knees in January 2012, the country is gradually recovering from their debilitating consequences. In August 2013, Mali successfully elected its new president, Ibrahim Boubacar Keïta, thus putting an end to an eighteen-month-long transitional government that was put in place following the March 2012 coup. Even though the violence has abated and renewed hope seems to be in the air, the structural causes of the Malian conflict are still stubbornly present and their consequences are still being felt by neighboring Sahel countries that suffer from similar underlying ills. The situation in Mali and other concerned states in the region generated a renewed interest in the Sahel-Sahara region and in efforts to stabilize this region. This prompted the International Peace Institute, the Executive Secretariat of the Strategy for Security and Development in the Sahel-Saharan Areas of Niger (SDS Sahel Niger), and the Centre for Strategies and Security for the Sahel Sahara (Centre 4S) to convene an international seminar on security and development in the Sahel-Sahara on February 15 and 16, 2013, in Niamey, Niger.
Topic:
Security, Civil Society, Development, Economics, Peace Studies, and Foreign Aid
Political Geography:
Africa and Nigeria

1334. Is It All About the Tails? The Palma Measure of Income Inequality

Author:
Alex Cobham and Andy Sumner
Publication Date:
09-2013
Content Type:
Working Paper
Institution:
Center for Global Development
Abstract:
There are normative or instrumental reasons why inequality may be said to matter (e.g. fairness and meritocracy). However, much global literature has taken an instrumentalist approach as to why high or rising inequality can hinder development. For example, Birdsall (2007) argues that income inequality in developing countries matters for at least three instrumental reasons: where markets are underdeveloped, inequality inhibits growth through economic mechanisms; where institutions of government are weak, inequality exacerbates the problem of creating and maintaining accountable government, increasing the probability of economic and social policies that inhibit growth and poverty reduction; and where social institutions are fragile, inequality further discourages the civic and social life that underpins the effective collective decision-making that is necessary to the functioning of healthy societies.
Topic:
Economics, Poverty, Social Stratification, and Labor Issues

1335. Social Capital and Disaster Recovery: Evidence from Sichuan Earthquake in 2008

Author:
Chun Wing Tse, Jianwen Wei, and Yihan Wang
Publication Date:
09-2013
Content Type:
Working Paper
Institution:
Center for Global Development
Abstract:
Social capital can help reduce adverse shocks by facilitating access to transfers and remittances.This study examines how various measures of social capital are associated with disaster recovery after the 2008 Sichuan earthquake. We find that households having a larger Spring Festival network in 2008 do better in housing reconstruction. A larger network significantly increases the amount of government aid received for housing reconstruction. Furthermore, households having larger networks receive monetary and material support from more people, which also explains the positive impacts on recovery from the earthquake. As for other measures of social capital, connections with government officials and communist party membership do not significantly contribute to disaster recovery. Human capital, measured by the years of schooling of household head, is not positively correlated with housing reconstruction.
Topic:
Economics, Humanitarian Aid, Natural Disasters, and Governance
Political Geography:
China and Israel

1336. The New Transparency in Development Economics: Lessons from the Millennium Villages Controversy

Author:
Michael Clemens and Gabriel Demombynes
Publication Date:
09-2013
Content Type:
Working Paper
Institution:
Center for Global Development
Abstract:
The Millennium Villages Project is a high profile, multi-country development project that has aimed to serve as a model for ending rural poverty in sub-Saharan Africa. The project became the subject of controversy when the methodological basis of early claims of success was questioned. The lively ensuing debate offers lessons on three recent mini-revolutions that have swept the field of development economics: the rising standards of evidence for measuring impact, the “open data” movement, and the growing role of the blogosphere in research debates.
Topic:
Development, Economics, Poverty, and Foreign Aid
Political Geography:
Africa

1337. Making Large-Scale Wind and Solar Power a Reality

Author:
Kevin Ummel
Publication Date:
09-2013
Content Type:
Policy Brief
Institution:
Center for Global Development
Abstract:
South Africa and many other countries hope to aggressively expand wind and solar power (WSP) in the coming decades. This presents significant challenges for power system planning. Success hinges largely on the question of how and where to deploy WSP technologies. Well-designed deployment strategies can take advantage of natural variability in resources across space and time to help minimize costs, maximize benefits, and ensure reliability.
Topic:
Climate Change, Development, Economics, Energy Policy, Environment, and Industrial Policy
Political Geography:
South Africa

1338. The Rebirth of Education: Why Schooling in Developing Countries Is Flailing; How the Developed World Is Complicit; and What to Do Next

Author:
Lant Pritchett
Publication Date:
09-2013
Content Type:
Policy Brief
Institution:
Center for Global Development
Abstract:
More than a billion children worldwide—95 percent—are in school. That's due in part to steady progress toward the second Millennium Development Goal that every child “be able to complete a full course of primary school” by 2015. To put that in perspective, the average adult in the developing world today receives more schooling than the average adult in advanced countries did in 1960. Schooling, however, is not the same as education. Few of these billion students will receive an education that adequately equips them for their future. The poor quality of education worldwide constitutes a learning crisis; donors and development agencies have been complicit in its creation, but they can and should be part of the solution, not by prescribing changes, but by fostering environments where change is possible.
Topic:
Demographics, Development, Economics, Education, Foreign Aid, and Foreign Direct Investment

1339. The Civil-Military Challenge to National Security Spending

Author:
Anthony H. Cordesman
Publication Date:
10-2013
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies
Abstract:
Perhaps the worst part of the debate that has led to the shut down of the federal government is its almost total irrelevance. It threaten both the US economy and US national security, but it does even begin to touch upon the forces that shape the rise in entitlements spending or their underlying causes.The Congressional debate does not address the forces that have led to a form of sequestration that focuses on defense as if it were the key cause of the deficit and pressures on the debt ceiling. It does not address the irony that much of defense spending has direct benefits to the US economy and that the spending on foreign wars–the so-called OCO account–dropped from $158.8 billion in FY2011 to some $88.5 billion in FY2013, and is projected to drop to around $37 billion in FY2015. Much of the debate focuses on the Affordable Care Act or "Obama Care"–a program whose balance between federal expenditures and revenues is sufficiently uncertain so the Congressional Budget office can only make limited forecasts, but whose net impact cannot come close to the cost pressures that an aging America and rising national medical costs have put on Federal entitlements in the worst case NDS May actually have a positive impact in the best case.The following briefing provides a range of estimates that addresses the real issues that are shaping the overall pressures that poverty, an aging America, and rising medical costs are putting on the US economy and federal spending. It draws on a range of sources to show how different estimates affect key trends, but focuses on data provide by a neutral arm of the same Congress that has paralyzed the US government and whose action threaten the funding on a viable national security strategy.
Topic:
Security, Defense Policy, Arms Control and Proliferation, Economics, and Governance
Political Geography:
United States and America

1340. The Rise of the Rest of India

Author:
Ruchir Sharma
Publication Date:
10-2013
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
When Nitish Kumar became chief minister of the dirt-poor Indian state of Bihar in 2005, kidnapping was said to be the leading industry in the capital city of Patna. People searching for stolen cars were advised to check the driveway of a leading politician, who reportedly commandeered vehicles for “election duty.” Although known for his soft-spoken manner, Kumar cracked down hard. He straightened out the crooked police, ordering them to move aggressively against all criminals, from the daylight robbers to the corrupt high officials. He set up a new fast-track court to speed the miscreants to jail. As Biharis gained the courage to go out on the street, even after dark, Kumar set about energizing a landlocked economy with few outlets for manufactured exports. He focused on improving the yields of Bihar's fertile soil and ushered in a construction boom. Within a few years, a state once described by the writer V. S. Naipaul as “the place where civilization ends” had built one of the fastest-growing state economies in India. And Kumar was recognized as a leader in the new generation of dynamic chief ministers who are remaking the economic map and future of India.
Topic:
Economics
Political Geography:
India and Patna