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211. From Public-Private Partnership to Market [Working Paper No. 10]

Author:
Gudrun Benecke, Lars Friberg, Markus Lederer, and Miriam Schröder
Publication Date:
04-2008
Content Type:
Working Paper
Institution:
Collaborative Research Center (SFB) 700
Abstract:
Tackling climate change is by now recognised as a policy challenge of utmost importance. The Kyoto Protocol is the most advanced multilateral effort to tackle climate change. One of the most interesting and innovative building blocks of the Kyoto Protocol climate regime is the Clean Development Mechanism (CDM). Since its inception this so-called flexible mechanism has been key in establishing a volatile and booming market for carbon emission reductions (CERs), which are the first internationally traded commodity created by an international environmental agreement. Within the process of market establishment and function, private actors such as companies, project verifiers, carbon funds and traders have become leading actors in the global carbon market. The market continues to be intimately policy dependent as demand derives from the stringency of emission allocations and future nation state commitments for greenhouse gas reductions. This article investigates the transformation of a market that has been initiated by public actors, kick-started by public-private partnerships (PPPs) and that has evolved into a market in which governments are withdrawing and private actors are increasingly taking up their governance function. It furthermore evaluates the status quo of the CDM and finishes with open questions for research.
Topic:
Environment, International Organization, Markets, and Non-Governmental Organization

212. Does Turkey Need a New Standby Agreement?

Author:
Erdal T. Karagöl
Publication Date:
03-2008
Content Type:
Policy Brief
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
Since 1960, nineteen Standby arrangements have been signed. With these agreements, significant progress has been made in Turkish economy: inflation has fallen to the lowest level since 1986, the public debtto- GNP ratio has been falling, and interest rates have declined rapidly. IMF's immediate goals concern exchange rate stability and balance of payments, and evaluations of IMF programs tend to concentrate on these two objectives. Yet, whether or not the IMF programs have positive effects on these short-term goals, what ultimately matters is that they induce economic growth and do not concentrate on incomes.
Topic:
Economics, International Organization, and International Political Economy
Political Geography:
Turkey and Middle East

213. Currency Undervaluation and Sovereign Wealth Funds: A New Role for the World Trade Organization

Author:
Arvind Subramanian and Aaditya Mattoo
Publication Date:
02-2008
Content Type:
Working Paper
Institution:
Center for Global Development
Abstract:
Two aspects of global imbalances—undervalued exchange rates and sovereign wealth funds (SWFs)—require a multilateral response. For reasons of inadequate leverage and eroding legitimacy, the International Monetary Fund (IMF) has not been effective in dealing with undervalued exchange rates. We propose new rules in the World Trade Organization (WTO) to discipline cases of significant undervaluation that are clearly attributable to government action. The rationale for WTO involvement is that there are large trade consequences of undervalued exchange rates, which act as both import tariffs and export subsidies, and that the WTO's enforcement mechanism is credible and effective. The WTO would not be involved in exchange rate management, and our proposals do not entail the WTO displacing the IMF: Rather, they would harness the comparative advantage of the two institutions, with the IMF providing the essential technical expertise in the WTO enforcement process. On SWFs, there is a bargain to be struck between countries with SWFs, which want secure and liberal access for their capital, and capital-importing countries that have concerns about the objectives and operations of SWFs. The WTO is the natural place to strike this bargain. Its services agreement, the General Agreement on Trade in Services (GATS), already covers investments by SWFs, and other agreements offer a precedent for designing disciplines for SWFs. Placing exchange rates and SWFs on the trade negotiating agenda may help revive the Doha Round by rekindling the interest of a wide variety of groups, many of whom are currently disengaged from the round.
Topic:
Foreign Exchange, International Organization, International Trade and Finance, and Markets

214. The United States' Public Diplomacy Platform in Davos

Author:
Peter R. Coneway
Publication Date:
03-2008
Content Type:
Journal Article
Institution:
Council of American Ambassadors
Abstract:
The World Economic Forum (WEF) annual meeting in Davos, Switzerland, is unlike any other event of its kind. Over a five-day span at the end of January each year, 2,000 world leaders, Fortune 500 chief executive officers, international media moguls and nongovernmental organization (NGO) leaders gather in the small alpine village of Davos to participate on panels, in industry meetings and in "off the record" sessions. The WEF meetings in Davos have been a ripe target for public diplomacy efforts over the past 38 years, and the WEF's founder, Dr. Klaus Schwab, has preserved the original intent of the forum in maintaining its focus as a place for informal dialogue and debate on major social and economic problems.
Topic:
Economics, International Cooperation, International Organization, and International Political Economy
Political Geography:
United States and Switzerland

215. Korean Institutional Reform in Comparative Perspective

Author:
Marcus Noland and Erik Weeks
Publication Date:
06-2008
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
In recent years, academic economists have come to appreciate the centrality of public institutions in contributing to economic performance. Yet Korea, arguably the premier success story of the last half-century, has sometimes been described as a First World economy with Third World institutions. Although Korea modestly underachieves on most of the 52 institutional indicators examined in this paper, it is not an outlier, and on most indicators it is converging on global norms from below.
Topic:
International Organization and International Political Economy
Political Geography:
United States, Asia, and South Korea

216. Guinea: Ensuring Democratic Reforms

Publication Date:
06-2008
Content Type:
Working Paper
Institution:
International Crisis Group
Abstract:
Le changement politique et économique réclamé par la population guinéenne au prix de près de 200 morts en janvier-février 2007 est largement compromis. Le limogeage du Premier ministre Lansana Kouyaté le 20 mai 2008 et son remplacement par Tidiane Souaré, un proche du président Lansana Conté, risque de compromettre l'ensemble du processus de réforme. Les déclarations apaisantes du nouveau chef de gou- vernement en faveur de l'inclusion et de la poursuite du « changement » ne doivent pas faire illusion. Le gouvernement Souaré-Conté a toutes les chances de remettre en cause les promesses d'élections législati- ves crédibles en décembre 2008, de compromettre le redressement économique du pays et d'enterrer la commission d'enquête indépendante qui doit identifier et poursuivre les auteurs de la répression sanglante de janvier 2007. Plus que jamais, les acteurs de la société civile, les responsables des partis politiques, les auto- rités religieuses et tous ceux qui souhaitent le chan- gement doivent opposer un front uni à la restauration du pouvoir sans partage de Lansana Conté.
Topic:
Security, Political Violence, Democratization, Government, and International Organization
Political Geography:
Africa

217. Is a League of Democracies a Good Idea?

Author:
Thomas Carothers
Publication Date:
05-2008
Content Type:
Policy Brief
Institution:
Carnegie Endowment for International Peace
Abstract:
Although the idea of a “League of Democracies” usefully reflects the urgent need to rebuild the legitimacy of U.S. democracy promotion, it is a problematic idea. It rests on the false assumption that democracies share sufficient common interests to work effectively together in a large group on a wide range of global issues. Such a league could aggravate rather than alleviate global sensitivities about the close association between U.S. democracy promotion and the U.S. global security agenda. The next U.S. president should opt instead for more flexible, case-by-case partnerships to fit specific issues and contexts.
Topic:
Diplomacy, International Cooperation, International Organization, and International Political Economy
Political Geography:
United States and Europe

218. Global Governance and Shared Sovereignty

Author:
John R. Bolton
Publication Date:
04-2008
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
On April 14, 2008, AEI senior fellow John R. Bolton gave the keynote address at the inauguration of the Global Governance Watch (GGW), a joint project of AEI and the Federalist Society. GGW is a web-based resource that addresses issues of transparency and accountability in the United Nations (UN), NGOs, and related international organizations. Edited excerpts from Bolton's remarks follow.
Topic:
International Relations, International Law, International Organization, and United Nations
Political Geography:
United States

219. The United States:A normative power?

Author:
Daniel S. Hamilton
Publication Date:
05-2008
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
To what degree may the US be considered a normative power? The US foreign policy mainstream tends to reflect a varying blend of normative and hegemonic approaches. The US has been and continues to be simultaneously a guardian of international norms; a norm entrepreneur challenging prevailing norms as insufficient; a norm externaliser when it tries to advance norms for others that it is reluctant to apply to itself; and a norm blocker when it comes to issues that may threaten its position, or that exacerbate divisions among conflicting currents of American domestic thought. On balance (and despite exceptions), the US has sought to manage this normative-hegemonic interplay by accepting some limits on its power in exchange for greater legitimacy and acceptance of its leadership by others. The unresolved question today is whether the US and other key players are prepared to stick with this bargain. Closer examination of the US case also raises a considerable number of questions about the notion of the EU as a 'normative power'.
Topic:
International Relations, Foreign Policy, Defense Policy, International Law, International Organization, and International Political Economy
Political Geography:
Africa, United States, and Europe

220. Controlling Illegal Logging: Using Public Procurement Policy

Author:
Duncan Brack
Publication Date:
06-2008
Content Type:
Policy Brief
Institution:
Chatham House
Abstract:
The use of public procurement policy by consumer states to create protected markets for legal and sustainable timber is helping to exclude the products of illegal logging, thereby encouraging the legal and sustainable production of timber. Many countries already possess some form of green procurement policy into which criteria for legal and sustainable timber can easily be fitted. In general no new legislation is needed, so this offers a relatively rapid route to tackling imports of illegal timber. Nine countries currently possess some form of timber procurement policy at central government level. Although they are all very recent in implementation, the evidence already suggests that they are having a positive effect on increasing market share for verified legal and sustainable timber. However, the adoption of different criteria and coverage of products risks making it more difficult for exporters to provide supplies of timber; some degree of technical harmonization would be desirable, and seems likely. The inclusion of requirements for legal and sustainable timber in building standards provides another route for promoting these products. At present, however, the points-based systems that these standards are based on usually encourage, rather than require, sustainable timber.
Topic:
Environment, Government, International Organization, and Treaties and Agreements