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1691. Central Bank Independence in North Africa

Author:
Bessma Momani and Samantha St. Amand
Publication Date:
03-2014
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
Securing CBI has become best practice in global governance. Both the political and economic literatures suggest that CBI facilitates price stability, promotes transparency to citizens and provides accountability toward the public good. CBI is also credited with protecting the economic and financial system from the trappings of regulatory capture. In addition, a number of scholars have argued that CBI is correlated with positive policy outcomes, including balanced long- term economic growth, stable financial markets and a reduced likelihood of publicly funded financial institution bailouts. Moreover, some have suggested that CBI is important for fostering a healthy liberal democracy. As global markets have become increasingly integrated and interdependent, securing CBI is also considered a domestic, regional and global public good.
Topic:
Development, Economics, Globalization, Monetary Policy, Governance, and Reform
Political Geography:
Africa and North Africa

1692. Food Security Robustness: A Driver of Enhanced Regional Cooperation?

Publication Date:
03-2014
Content Type:
Policy Brief
Institution:
Centre for Non-Traditional Security Studies, S. Rajaratnam School of International Studies
Abstract:
Food security encompasses multiple, inter-connected dimensions, from production-related concerns, to market and price dynamics, environmental trends and policy approaches. Given this, 'robustness', the ability to withstand disruptions to the various dimensions, is critical to food security. Yet, countries in Southeast Asia continue to be largely focused on domestic production alone, which is unsustainable in the long run. This Policy Brief suggests that, in order to increase food security robustness, countries could turn to regional-level action. Towards this end, an analysis using the Rice Bowl Index is used to identify possible areas of cooperation and collaboration at the regional level.
Topic:
Security, Agriculture, Economics, Environment, Markets, and Food
Political Geography:
East Asia

1693. Regional concentration of FDI involves trade-offs in post-reform India

Author:
Peter Nunnenkamp, Wan-Hsin Liu, and Frank Bickenbach
Publication Date:
03-2014
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
P. Chidambaram, India's Minister of Finance, claimed that "FDI worked wonders in China and can do so in India." However, China's example may also point to the limitations of foreign direct investment (FDI) liberalization in promoting the host country's economic development. FDI in China is heavily concentrated in the coastal areas, and previous studies have suggested that this has contributed to the increasing disparity in regional income and growth since the late 1970s.
Topic:
Development, Economics, International Trade and Finance, and Foreign Direct Investment
Political Geography:
China, South Asia, and India

1694. Multilateral investment disciplines: Don't forget the GATS

Author:
Rudolf Adlung
Publication Date:
03-2014
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
A number of recent studies have discussed the implications of most-favored-nation (MFN) clauses in bilateral investment treaties (BIT s) and the possible need for, and role of, a multilateral framework for investment. Surprisingly, the relevance of existing multilateral disciplines, in particular under the General Agreement on Trade in Services (GATS), is seldom acknowledged in this context.
Topic:
Economics, International Trade and Finance, Treaties and Agreements, and Foreign Direct Investment

1695. The case for a framework agreement on investment

Author:
Gary Hufbauer and Sherry Stephenson
Publication Date:
03-2014
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
In Columbia FDI Perspectives, No. 102, Axel Berger claimed that the debate over a multilateral framework for investment is futile. We disagree. Following its achievements at the 9th Ministerial Conference in Bali, Indonesia, the World Trade Organization (WTO) should launch negotiations to draft a 21st century Investment Framework Agreement (IFA).
Topic:
Economics, International Trade and Finance, Markets, Treaties and Agreements, and Foreign Direct Investment
Political Geography:
Colombia

1696. The "spaghetti bowl" of IIAs: The end of history?

Author:
Joachim Karl
Publication Date:
02-2014
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
In his famous book, "The End of History and the Last Man", published in 1992, Francis Fukuyama argued that Western democracy represents the end point of the socio-cultural evolution of humanity and the final form of government.
Topic:
Economics, International Trade and Finance, Markets, Treaties and Agreements, and Foreign Direct Investment
Political Geography:
France

1697. Recalibrating interpretive authority

Author:
Anthea Roberts
Publication Date:
01-2014
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
There have been many calls for a rebalancing of investor protection and state sovereignty in the investment treaty system. However, another equally important shift is underway: the recalibration of interpretive authority between treaty parties and arbitral tribunals. In newer-style investment treaties, states are increasingly protecting and enhancing their role in interpreting and applying their treaties.
Topic:
Economics, Government, International Trade and Finance, Markets, Treaties and Agreements, and Foreign Direct Investment

1698. The China-United States BIT negotiations: A Chinese perspective

Author:
Sheng Zhang
Publication Date:
01-2014
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
The China-US bilateral investment treaty (BIT) negotiations have attracted attention due to the relative size and weight of both economies. Despite broad consensus about the importance of such a treaty, there is considerable debate about its shape and content. The debate is reflected in two recent Columbia FDI Perspectives. Donnelly argued that a China-US BIT should be modeled on the US Model BIT without "splitting the difference between Chinese and US positions", and that the possibility of meaningful BIT negotiations are "really up to China at this point".
Topic:
Economics, Globalization, International Trade and Finance, Bilateral Relations, Foreign Direct Investment, and Governance
Political Geography:
United States, China, Europe, and Colombia

1699. Why Afghanistan's Provincial Council Elections Matter

Author:
Noah Coburn and Anna Larson
Publication Date:
03-2014
Content Type:
Policy Brief
Institution:
United States Institute of Peace
Abstract:
Afghanistan's Provincial Councils (PCs) represent one of the best hopes for the future of local democracy in Afghanistan. Yet since their shaky formation in 2005, they continue to be overlooked by international actors preferring to interact with parliamentarians, ministers and appointed governors. The significance assigned by Afghans to winning PC seats has steadily increased over the last decade. Indeed, for many, the April 5 PC elections will do more than the presidential poll to determine whether democratic practices continue to take root in local politics. PC elections offer a chance to build local, personal ties and accountability mechanisms connecting to increasingly centralized government resources, and, in particular, an opportunity for a new generation of young, motivated Afghans to begin their political careers. As the locally-visible manifestation of the Afghan political system, PCs are the immediate face of democracy—or a lack thereof—for many Afghans. In 2009, with most news stories covering the widespread fraud in the presidential contest, the uproar over the fraud and delay throughout the PC polling process rarely received coverage on newspaper front pages. Yet those problems contributed significantly to people's sense of alienation and disillusionment with their country's political actors and electoral institutions. In spite of these experiences, Afghans are once again preparing to go to the polls. Voters, candidates, parties and local organizations are putting greater emphasis than ever on the process of provincial council polling—expressing concern about the prospects for fraud, mobilizing around their candidates and campaigning in earnest. If due attention to the process is not paid by the Independent Election Commission (IEC) and by international agencies, popular participation in future elections could drop. Prospects for Afghan democratization will depend much on how these and future provincial-level elections are conducted.
Topic:
Conflict Resolution, Democratization, Demographics, Development, Islam, Politics, and Youth Culture
Political Geography:
Afghanistan

1700. Last Chance: The International Community and the 2014 Afghan Elections

Author:
Scott S. Smith
Publication Date:
03-2014
Content Type:
Policy Brief
Institution:
United States Institute of Peace
Abstract:
Afghanistan's democratic development has taken place within the tight embrace of international support and the conception of "free and fair" elections that comes with it, but Afghan and inter-national views on what to expect from elections have diverged in the past, leading to a deepening of distrust between the Karzai-led Afghan government and the international community. The run-up to the 2014 presidential elections has been shaped by this distrust. Nonetheless, with the breakdown of the reconciliation effort with the Taliban and uncertainty about the result of the transition process due to President Hamid Karzai's unexpected refusal to sign the Bilateral Security Agreement (BSA), the April 5 election is the only remaining opportunity for a political resolution of the continuing crisis in Afghanistan. A more complete understanding of the 2009 elections—how they were and were not a disaster—can help to narrow the gap between Afghan and international expectations; and an understanding of some of the changes that have occurred in Afghan society since 2009 can offer reason for optimism that the election will at the least create space for political elites to address the root causes of the crisis.
Topic:
Conflict Resolution, Security, Corruption, Democratization, Political Economy, and Insurgency
Political Geography:
Afghanistan