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311. Energy: A Reinforced Obstacle to Democracy?

Author:
Richard Youngs
Publication Date:
07-2008
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
Rising oil and gas prices appear to have helped shore up autocratic producer states across the world. They also seem to have led Western states to dilute their support for democratic reforms in these countries. But while this conventional wisdom correctly restates the problematic relationship between energy and democracy, the overall picture is more complex. The paper reveals that the opaque management of increased oil and gas revenues has sparked pressure for governance reforms from within producer states and has also encouraged new international initiatives linking energy security with good governance.
Topic:
Corruption, Energy Policy, Government, International Political Economy, and Oil

312. Gain Seeking in a "Double Security Dilemma": The Case of OPEC

Author:
Ellinor Zeino-Mahmalat
Publication Date:
03-2008
Content Type:
Working Paper
Institution:
German Institute of Global and Area Studies
Abstract:
The remarkable stability of the cooperation among the members of the Organization of Petroleum Exporting Countries (OPEC) has generally been explained by these members' mutual dependency on high and stable oil revenues. Since the OPEC countries, however, face the double security dilemma of both domestic and external security threats, they are not simply eager to secure (absolute) oil revenues for the sake of domestic stability; they are also sensitive to the (relative) oil revenues of their competing or even conflicting partners. The existing approaches of rational egoism and defensive positionalism have proven to be rather inadequate in explaining this kind of gain-seeking behavior. This paper therefore develops the new theoretical approach of “gain-seeking mentalities,” with the objective of tracing variations in OPEC members' gain-seeking behaviors. Using this approach, the empirical assessment of Iran and Iraq during the Iran-Iraq War and Iraq during the Gulf War of 1990/91 shows the extent to which Iran and Iraq altered their gain-seeking behavior as a result of a changing constellation of threats.
Topic:
Security, Economics, Intelligence, and Oil
Political Geography:
Iraq, Iran, and Middle East

313. The US Housing Bust and Soaring Oil Prices: What next for the world economy?

Author:
Daniel Gros and Cecilia Frale
Publication Date:
06-2008
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
This paper estimates the impact of the ongoing housing bust and oil price boom on the US and European economies. It finds that large house price movements (changes in construction investment) are useful to predict exceptionally bad and good times for the US economy, but not for most large European countries. In Europe housing market developments have led to extreme values of GDP, mainly in the UK, Spain and some Nordic countries.
Topic:
Economics and Oil
Political Geography:
United States and Europe

314. A New Power Play in the Balkans: Kosovo's Independence

Author:
Enika Abazi
Publication Date:
04-2008
Content Type:
Journal Article
Journal:
Insight Turkey
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
This article discusses Kosovo's independence from a framework of political and legal perspectives and assesses regional and global responses to the declaration of independence. Kosovo's independence, it is argued, has revealed shifting strategic landscapes, security concerns and domestic developments in regional and international politics with significant implications for all actors in the region. Russia, for instance, calculated to restore its lost 'superpower' status and control Serbia's strategic oil industries while Turkey's prompt recognition of independence has increased its impact in the region. Kosovo's independence will be a test case for keeping peace and stability in the Balkans within the new dynamics of regional and international politics. The way to escape from regional and international rivalries in Kosovo and its environs is to enhance the forces of cooperation in this volatile region and avoid zero sum games among regional and international actors.
Topic:
International Relations, International Political Economy, and Oil
Political Geography:
Russia, Turkey, Kosovo, and Balkans

315. China and the Future of the Developing World: The Coming Global-Asian Era and its Consequences

Author:
Jeffrey Henderson
Publication Date:
05-2008
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
The rise of China as an economic and political 'driver' of the global economy is likely to be one of the defining moments of world history. Its dynamism and international expansion are on the verge of creating a 'critical disruption' in the global order that has held sway for over 60 years. As such, China is beginning to reshape the world, presaging a new phase of globalization: a 'global-Asian era'. This new era is likely to be distinct from any of the earlier phases of globalization and China's global footprint, in terms of its business, economic and political actions and their geopolitical implications, is likely to be markedly different from what has gone before. This paper offers a framework by which we can begin to understand the coming global-Asian era (GAE) and some of its consequences, particularly as the latter are surfacing in the developing world. Having discussed the nature and dynamics of the GAE, the paper turns to sketch a series of vectors (trade, aid and energy security) along which the GAE is beginning to impact on developing countries. The paper argues that, at least for these vectors, the Chinese-driven GAE is providing opportunities as well as dangers for national development projects. It concludes by briefly speculating on the viability of the GAE.
Topic:
Development, Globalization, International Political Economy, International Trade and Finance, and Oil
Political Geography:
China and Asia

316. Tipping Point

Author:
John H. Makin
Publication Date:
08-2008
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
The annual report of the Bank of International Settlements (BIS)—the central bankers' central bank—which appeared in late June, was somewhat schizophrenic. On the one hand, the BIS called for world interest rates to rise in order to deal with a “clear and present threat” from global inflation while, on the other hand, it warned that the global economy may be close to a “tipping point” into a “slowdown severe enough to transform the current period of rising inflation into a period of falling prices.” The simultaneous rise in oil prices and the fall in yields in government securities occurring as the BIS released this ambivalent statement captured well the tensions inherent in the stagflationary crosscurrents facing the global economy. Against this ominous background, the release of the BIS report coincided with the onset of a global bear market in equities.
Topic:
Economics, Markets, Oil, and Political Economy
Political Geography:
United States

317. Middle East Perspectives: Conference Proceedings from Gstaad, Switzerland

Author:
Shai Feldman, Shahram Chubin, Abdulaziz Sager, and David L. Aaron
Publication Date:
09-2008
Content Type:
Working Paper
Institution:
The Geneva Centre for Security Policy
Abstract:
The Middle East and its security remains a vital ingredient in international security. The region's tensions, conflicts and stability are of fundamental concern to a wide range of actors, whose interests or proximity make it a priority. The novelty today is the increasing inter-relations of these conflicts and instability and the limitations of outside power influence. This, together with the appearance of new actors in the region, namely India and China, seems likely to transform diplomacy in the future. Regional dynamics, which are increasingly resistant to outside power influence or control, continue to shape the strategic environment. These dynamic forces, ranging from terrorism, sectarianism, and on-going conflicts, intersect and add to the region's instability and fragmentation. The conflict zone (from the Levant to Iran) overlaps the “energy ellipse” (in the Gulf), that is, the dependence of much of the world on this region for energy supplies. Superimposed on this is the related feature of the region, namely the emergence in the GCC of the 'super rich' states, carving out a new niche and economic identity with their newfound wealth. The region is thus complex: unstable, vulnerable, and wealthy in parts. Weak, shattered, or embryonic states (Iraq, Lebanon, Palestine) co-exist with strong states like Egypt, cautious ones like Saudi Arabia, and ambitious ones, notably Iran. What seems clear from the perspective of 2008 is the continuing need for international engagement, combined with a recognition that this engagement must be constructive and cannot substitute for local initiatives or substitute for local forces, which at best, can only be harnessed, not controlled.
Topic:
Security, Ethnic Conflict, Oil, and War
Political Geography:
China, Iraq, Middle East, India, Palestine, Arabia, Saudi Arabia, Lebanon, and Egypt

318. Ending Dependence: Hard Choices for Oil-Exporting States

Author:
John V Mitchell and Paul Stevens
Publication Date:
07-2008
Content Type:
Working Paper
Institution:
Chatham House
Abstract:
Since 2003, countries whose economies depend on the export of oil and gas have enjoyed a surge of revenue driven by rising oil prices and, in some countries, rising export volumes. The press has captured petroleum-fuelled prosperity in images of futuristic construction plans and the rocketing assets of sovereign wealth funds. However, this obscures important differences among oil and gas exporters in terms of reserves size and social development challenges. Based on a major study of twelve hydrocarbon-exporting countries, this report shows that the boom does not guarantee economic sustainability for these countries, most of which face hard policy choices over domestic consumption, development spending and rates of economic growth. The report estimates the timeframes these countries have in which to make the necessary changes and examine their prospects for success given the existing human, institutional and technical capacity, competitive advantages, infrastructure and access to capital.
Topic:
Development, Energy Policy, Oil, International Security, and International Affairs
Political Geography:
Middle East

319. Iran: Breaking the Nuclear Deadlock

Author:
Richard Dalton(ed.)
Publication Date:
12-2008
Content Type:
Working Paper
Institution:
Chatham House
Abstract:
The dispute over Iran's nuclear programme is deadlocked. Five years of negotiations, proposals, UN resolutions and sanctions have failed to achieve a breakthrough. As diplomacy struggles and Iran continues to advance its nuclear capabilities, the issue becomes ever more grave and pressing.
Topic:
International Relations, Foreign Policy, Oil, Weapons of Mass Destruction, and International Security
Political Geography:
United States, Europe, Iran, and Middle East

320. Oil in Asia and the Pacific: Production, Consumption, Imports, and Policy Options

Author:
Kang Wu, Fereidun Fesharaki, Sidney B. Westley, and Widhyawan Prawiraatmadja
Publication Date:
08-2008
Content Type:
Policy Brief
Institution:
East-West Center
Abstract:
Concerns about energy security affect economic performance and political stability all over the world, but nowhere are these issues more critical than in Asia and the Pacific. Oil is at the heart of the region's energy challenge. Oil consumption is increasing nearly twice as fast in the region as in the world as a whole, while options for increasing production are severely limited. The result is a steadily growing dependence on imported oil, largely from the volatile Middle East. Apart from efforts to increase domestic production and slow consumption growth, recommendations for policymakers include initiating joint ventures with oil producers, improving the efficiency of domestic markets, building up strategic stocks, strengthening regional cooperation, reducing transportation bottlenecks, and establishing a regional market for oil futures. In the long run, policymakers need to devise new strategies for economic growth based on more efficient use of oil and natural gas, continuing dependence on coal, and ultimately, the development of alternative sources of energy.
Topic:
Security, Energy Policy, and Oil
Political Geography:
Asia