Search

Begin New Search Topic Globalization

861. Some Simple Tests of the Globalization and Inflation Hypothesis

Author:
Steven B. Kamin, Jaime Marquez, Jane Ihrig, and Deborah Lindner
Publication Date:
04-2007
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
This paper evaluates the hypothesis that globalization has increased the role of international factors and decreased the role of domestic factors in the inflation process in industrial economies. Toward that end, we estimate standard Phillips curve inflation equations for 11 industrial countries and use these estimates to test several predictions of the globalization and inflation hypothesis. Our results provide little support for that hypothesis. First, the estimated effect of foreign output gaps on domestic consumer price inflation is generally insignificant and often of the wrong sign. Second, we find no evidence that the trend decline in the sensitivity of inflation to the domestic output gap observed in many countries owes to globalization. Finally, and most surprisingly, our econometric results indicate no increase over time in the responsiveness of inflation to import prices for most countries. However, even though we find no evidence that globalization is affecting the parameters of the inflation process, globalization may be helping to stabilize real GDP and hence inflation. Over time, the volatility of real GDP growth has declined by more than the volatility of domestic demand, suggesting that net exports increasingly are acting to buffer output from fluctuations in domestic demand.
Topic:
Economics, Emerging Markets, Globalization, International Trade and Finance, and Markets

862. A Marshall Plan for Energy, Water and Agriculture in Developing Countries

Author:
Richard L. Lawson and John R. Lyman
Publication Date:
04-2007
Content Type:
Policy Brief
Institution:
Atlantic Council
Abstract:
Today, hunger, poverty, and desperation remain prevalent throughout much of the developing world. If we are to live in a 21st century more prone to peace than violence, the developed countries must move expeditiously to address the developing countries' requirements for energy, water, and agricultural production. The availability, accessibility and affordability of energy, water and food supplies are vital to the economic development that is required to alleviate global poverty, to reduce global tensions, and to address global environmental degradation.
Topic:
Development, Energy Policy, Environment, Globalization, and Poverty

863. Globalisation and Diplomacy

Author:
Iver B. Neumann
Publication Date:
12-2007
Content Type:
Working Paper
Institution:
Norwegian Institute of International Affairs
Abstract:
Globalisation is shorthand for changes in space, time and the relationship between them. This paper, which will be forthcoming as a chapter in a book edited by Andrew Cooper and published by the United Nations University Press, argues that changes in deterritorialisation will not have thoroughgoing effects for diplomacy. A change in time, notably the change to zero lag-time in information flows, is, on the other hand, of key importance. So is the increase in the sheer mass and density of communication. If transcending boundaries is the essence of globalisation, then it stands to reason that state diplomats must sooner or later take cognizance of the other kinds of polities that exist within the system.
Topic:
International Relations, Diplomacy, Globalization, and Government

864. Korea: Progress in Implementing Regulatory Reform

Publication Date:
03-2007
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
Regulatory reform is a priority in the effort to promote sustainable economic growth, complementing sound macroeconomic policies. It can help shift economic activity to higher value-added production and services, encourage the use of appropriate and new technology and make national economies more resilient to economic shocks. Regulatory reform is a very important asset as countries move forward in the process of globalisation.
Topic:
Development, Economics, Globalization, and Science and Technology
Political Geography:
Korea

865. Creating Value from Intellectual Assets

Publication Date:
03-2007
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
Intellectual assets have become strategic factors for value creation by firms. The expansion of the services sector, globalisation, deregulation, and the emergence of new information technologies have brought to the fore the issue of how knowledge is created, disseminated, retained and used to obtain economic returns. This has led to a structural change, from traditional scale-based manufacturing, which mainly relies on tangible assets, to new innovation-oriented activities which rely largely on research and development, patents, software, human resources and new organisational structures – collectively referred to as intellectual assets.
Topic:
Development, Economics, Education, and Globalization

866. Global Inequality: Recent Evidence and Trends

Author:
Vicar Valencia, William E. Griffiths, D.S. Prasada Rao, and Duangkamon Chotikapanich
Publication Date:
01-2007
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
This paper examines the nature and extent of global and regional income distribution and inequality using the most recent country level data on income distribution drawn from World Bank and UNU-WIDER studies for the period 1993–2000. The methodology used is a recently developed technique to fit flexible income distributions to limited aggregated data. Empirical results show a very high degree of global inequality, but with some evidence of inequality decreasing between the two years.
Topic:
International Relations, Development, Economics, and Globalization

867. Cyber Attack: Risk Management Primer for CEOs

Publication Date:
12-2007
Content Type:
Policy Brief
Institution:
Atlantic Council
Abstract:
Today's businesses rely increasingly on corporate IT networks and their connection with the global Internet as the backbone of their sales, sourcing, operating, and financial systems. However, the convenience of global connectivity comes at a cost-the vulnerability of network infrastructures and systems to the malicious actions of cyber criminals and espionage agencies. Yet few CEOs or managing directors are prepared to lead their companies against these dangers. Too often CEOs and directors fail to understand the level of potential risk and liability, and cede responsibility for dealing with cyber attacks to their IT department. Instead, leaders of corporations, nongovernmental and not-for-profit organizations, and public sector agencies in the 21st century must know enough to at least ask the right questions of their chief information officer.
Topic:
Security, Globalization, International Trade and Finance, and Science and Technology

868. Institutional Proliferation and World Order: Is There Viscosity in Global Governance?

Author:
Daniel W. Drezner
Publication Date:
11-2007
Content Type:
Working Paper
Institution:
Centre for International Peace and Security Studies
Abstract:
In recent years there has been a proliferation of international rules, laws and institutional forms in world politics. This has triggered attention to the role that forum-shopping, nested and overlapping institutions, and regime complexes play in shaping the patterns of global governance. A few policymakers, some international relations scholars, and many international law scholars posit that this trend will lead to more rule-based outcomes in world politics. This paper suggests a contrary position: institutional thickness has a paradoxical effect on global governance. After a certain point, proliferation shifts global governance structures from rule-based outcomes to power-based outcomes–because institutional proliferation can enhance the ability of great powers to engage in forum-shopping.
Topic:
International Relations, Globalization, Government, Health, Human Rights, International Law, and Markets
Political Geography:
America

869. Beyond the International Monetary Fund: The Broader Institutional Arrangements in Global Financial Governance

Author:
Tony Porter
Publication Date:
02-2007
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
In recent years there has been an upswing in interest in the reform of the International Monetary Fund (IMF). In contrast to its earlier years, the IMF today exists in an international environment populated by a wide variety of public and private-sector international institutions that compete with and complement the work done by the IMF. A key factor in the IMF's performance and future prospects is its relationship with these institutions. This paper analyzes institutional developments in the IMF's environment, linking these with broader contemporary social trends, and drawing conclusions about the significance of these developments for IMF reform. These social trends include a shift from hierarchies to networks, A recognition of the socially-constructed character of knowledge and the growing importance of this knowledge relative to material resources, and a shift from a reliance on US hegemony to multilateralism. The paper argues that the IMF has taken some modest steps in its work to include these considerations and enhance its relationship with other institutions, but these elements need to be included in the process of IMF reform to a much greater degree.
Topic:
Development, Economics, Globalization, and International Trade and Finance

870. The World Bank: Toward a Global Club

Author:
Nancy Birdsall
Publication Date:
05-2007
Content Type:
Working Paper
Institution:
Center for Global Development
Abstract:
In this Essay, CGD president Nancy Birds all describes the World Bank as a global club with a structure close to that of a credit union in which the members are nations. Its mission, as originally conceived—to promote broadly shared and sustainable global prosperity—serves the common interests of all its country members. In light of this, Birds all addresses the issues that arise with respect to its current governance structure and how these issues affect the Bank's legitimacy, effectiveness and relevance in the global system.
Topic:
Globalization, Political Economy, and Poverty