Mandis or physical, primary agricultural markets are old and ubiquitous institutions of economic life in many parts of India. Wherever they form, they are usually dense sites of economic, social and political activity, connecting and shaping the relations between town and countryside, and between local markets for commodities and larger, national and global circuits of capital and commerce. According to available estimates, there are over 7500 regulated agricultural markets in India today, operating under different state level acts covering a huge variety of notified agricultural produce.
Latin American performance during the global financial crisis was unprecedented. Many developing and emerging countries successfully weathered the worst crisis since the Great Depression. Was it good luck? Was it good policies? In this paper we compare growth during the Asian and global financial crises and find that a looser monetary policy played an important role in mitigating crisis. We also find that higher private credit, more financial openness, less trade openness, and greater exchange rate intervention worsened economic performance. Our analysis of Latin American countries confirms that effective macroeconomic management was key to good economic performance. Finally, we present evidence from a sample of 31 emerging markets that high terms of trade had a positive impact on resilience.
Topic:
Emerging Markets, International Trade and Finance, Monetary Policy, and Financial Crisis
The John F. Kennedy School of Government at Harvard University
Abstract:
The recent revival of interest in nominal GDP (NGDP) targeting has come in the context of large advanced economies. We argue that the case for NGDP targeting is even more appealing for mid-sized developing countries, because they tend to be more susceptible to supply shocks and terms of trade shocks. For India, in particular, one major exogenous supply shock is the monsoon rains. NGDP targeting splits the impact of supply shocks automatically between inflation and real GDP growth. In the case of inflation targeting (IT), by contrast, the full impact of an adverse supply shock or terms of trade shock is felt as a loss in real GDP alone. NGDP targeting arguably achieves the best of both worlds: it automatically accommodates supply shocks as most central banks with discretion would do anyway, while retaining the advantage of anchoring expectations as rules are designed to do. We outline a simple theoretical model and derive the conditions under which an NGDP targeting regime would dominate other regimes such as IT for achieving objectives of output and price stability. We go on to estimate for the case of India the main parameters needed to ascertain whether these conditions hold, most notably the slope of the aggregate supply curve. We find that under certain plausible conditions, nominal GDP targeting is indeed better placed than IT, especially in the face of the supply shocks that developing countries tend to experience.
Topic:
Development, Emerging Markets, Monetary Policy, GDP, Inflation, and Central Bank
Centre for Non-Traditional Security Studies, S. Rajaratnam School of International Studies
Abstract:
China's assertive diplomacy in recent years has ignited intense debates among International Relations (IR) scholars. Some argue that China's assertive behavior is rooted in its perception of increasing power and capabilities. Others suggest that it is U.S. policies that triggered China's assertive reactions. Relying on an original survey of China's IR scholars conducted in Beijing in 2013 and using structural equation modeling (SEM), we empirically examine Chinese IR scholars' attitude towards Chinese power versus the United States, their perceptions of U.S. policy in Asia, and their preference for an assertive Chinese foreign policy. We find that both the power perception and policy reaction arguments make sense in accounting for Chinese IR scholars' attitude regarding China's assertive diplomacy. However, our research suggests that a more pessimistic view on Chinese power is more likely to be associated with a preference for an assertive foreign policy.
This World Leaders Forum program, titled "Rio de Janeiro: from Ostracism to Protagonism" features an address by Sergio Cabral Filho, former Governor of Rio de Janeiro, Brazil. Introduction and Moderated by Lee C. Bollinger, President, Columbia University in the City of New York.
Topic:
Development, Emerging Markets, Political Economy, and Foreign Direct Investment
The Strategic Studies Institute of the U.S. Army War College
Abstract:
The relative rise of China is likely to lead a major shift in the world's strategic architecture, which the United States will need to accommodate. For the outcome to be generally beneficial, China needs to be dissuaded from hegemonic aspirations and retained as a cooperative partner in the world system. This will require a range of potentially conflicting thrusts in U.S. policy.
Topic:
Security, Foreign Policy, Arms Control and Proliferation, Emerging Markets, International Cooperation, and Bilateral Relations
Centre for Non-Traditional Security Studies, S. Rajaratnam School of International Studies
Abstract:
National food security will continue to be the top strategic issue confronting Chinese policymakers. In the next two decades of rapid income growth, China's total demand for agricultural products will increase in the face of diminishing water and land resources, and the task of feeding the 1.3 billion Chinese people will be even more challenging. The authors suggest that a global agricultural strategy is the strategic choice for China because it enables China to safeguard national food security and at the same time, tackle its rising domestic demand for agricultural resources in the face of environmental pressures.
Topic:
Security, Agriculture, Development, Emerging Markets, and Food
David L. Goldwyn, Neil R. Brown, and Megan Reilly Cayten
Publication Date:
08-2014
Content Type:
Working Paper
Institution:
Atlantic Council
Abstract:
Mexico is poised for an energy renaissance. It has ample reserves of oil and natural gas, experience in energy production, promising economic fundamentals, and industrial expertise. In recent decades, Mexico has suffered from declining oil production, insufficient gas supply, and high electricity prices.
Over the past decade, a growing segment of social entrepreneurs and small and growing businesses(SGBs) has emerged that seeks to utilize the power of invention to create products and companies that improve the lives of people living in poverty around the world. We call this class of entrepreneur-looking to develop and disseminate tangible products that will be manufactured and sold at high volumes via market mechanisms-an invention-based entrepreneur.1 ANDE believes that invention-based entrepreneurs are supported or impeded by a number of environmental factors, or the entrepreneurial ecosystem in which they work. While ANDE and our members have made significant progress toward strengthening these entrepreneurial ecosystems in emerging markets, invention-based entrepreneurs have a unique set of needs that differentiates them from typical SGBs. Consequently, we believe we can improve the ecosystem to support the growth of this industry, and thereby unleash the full potential impact of these invention-based entrepreneurs.
Topic:
Emerging Markets, International Trade and Finance, Political Economy, and Reform
EGMONT - The Royal Institute for International Relations
Abstract:
Asia is a prominent export market for Europe while in the East and South China Seas, tensions continue. Europe has searched for its political role in Asia. This policy brief presents an analysis and argues the role of Europe in enhancing cooperative security in Asia and the Pacific, which would promote stability and peace there.
Topic:
Security, Emerging Markets, International Cooperation, and International Trade and Finance