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3471. Understanding India's Climate Agenda

Author:
Christian Egenhofer and Noriko Fujiwara
Publication Date:
02-2010
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
India has become an important partner for the EU in both multilateral and bilateral relations in a wide range of policy areas, including energy and climate change. Despite the strategic importance of this partnership, there may be insufficient awareness and understanding among EU stakeholders a bout India's development needs and challenges, its high degree of vulnerability to the impacts of climate change and the actions it has taken domestically and in international fora to address climate change. The country is among those rapidly and steadily growing economies with an increasing share of greenhouse gas (GHG) emissions, although it starts from a very low emissions base.
Topic:
Climate Change, Development, Economics, Energy Policy, and Industrial Policy
Political Geography:
India

3472. On Thin Ice? (Mis)interpreting Russian Policy in the High North

Author:
Roderick Kefferputz
Publication Date:
02-2010
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
Climate change in the Arctic is expected to make the region a lot busier as new strategic resources become available. The Russian Federation is a key player in this context, having put forth a comprehensive Arctic strategy. Russian policy towards the so-called High North, however, is oftentimes not seen in its entirety and has received a plethora of criticism in the Western media and foreign policy community. This paper aims to contribute to a better understanding of Russian actions in the High North by providing a succinct overview of Russian policies in the region and identifying the fundamental rationale behind them. The paper concludes that Russia's Arctic policy is not only a lot more nuanced but also not very different from the policies conducted by other riparian states.
Topic:
Climate Change and Energy Policy
Political Geography:
Russia and Europe

3473. Crisis in the eurozone and how to deal with it

Author:
Paul De Grauwe
Publication Date:
02-2010
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
The crisis that started in Greece culminated into a crisis of the Eurozone as a whole. How did we get into this mess? To answer this question it is useful to distinguish the three actors that have played a role in the development of the crisis: Greece, the financial markets (including the rating agencies) and the eurozone authorities. Let us analyse the role of these three actors in the drama.
Topic:
Economics and Markets
Political Geography:
Europe and Greece

3474. Towards a Euro(pean) Monetary Fund

Author:
Daniel Gros and Thomas Mayer
Publication Date:
02-2010
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
Despite cobbling together an impressive $1 trillion rescue package for countries with potential funding problems, the threat of a disorderly default still looms over the eurozone, creating systemic financial instability at the EU and possibly global level. Against this background, Daniel Gros and Thomas Mayer renew their call for the creation of a European Monetary Fund (EMF) in an update to their Policy Brief issued in February.
Topic:
Economics, Monetary Policy, and Financial Crisis
Political Geography:
Europe and Greece

3475. The Taxation of Multinational Enterprises in the European Union

Author:
Stefano Micossi and Paola Parascandolo
Publication Date:
02-2010
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
As a rule, multinational enterprises (MNEs) are taxed separately by the countries in which they operate on the basis of the income produced in each jurisdiction ('source' taxation). To this end, they must keep separate accounts for business units in each country (“separate accounting”, SA) ascribing each item of expenditure and income to each business unit on the basis – by universally accepted convention – of 'arm's-length' pricing (ALP), that is, of comparable or estimated prices for similar market transactions between unrelated companies.
Topic:
Economics, Globalization, International Trade and Finance, Monetary Policy, and Financial Crisis
Political Geography:
Europe

3476. The Impact of the Crisis on the Real Economy

Author:
Daniel Gros and Cinzia Alcidi
Publication Date:
01-2010
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
This crisis was caused by a combination of asset price bubbles, mainly in the real estate sector, and a credit bubble that led to excessive leverage. This is wellknown. What is less well-known is that on both accounts the euro area was affected by both 'bubble' symptoms as much as the US.
Topic:
Economics, Markets, and Financial Crisis
Political Geography:
United States and Europe

3477. Comparing EU and US Responses to the Financial Crisis

Author:
Karel Lannoo
Publication Date:
01-2010
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
Since 2003, the EU and the US have conducted a vibrant regulatory dialogue on financial regulation, but domestic priorities seem to have taken precedence in response to the financial crisis. This paper compares the institutional and regulatory changes occurring on both sides of the Atlantic. On the institutional side, it compares macro- and micro-prudential reforms. On the regulatory side, it compares four key areas: bank capital requirements, reform of the OTC derivative markets, and the regulation of credit ratings agencies and hedge funds. It concludes by highlighting certain implications for the regulatory dialogue.
Topic:
Economics, Monetary Policy, and Financial Crisis
Political Geography:
United States and Europe

3478. Libye/Tchad : au-delà d'une politique d'influence

Publication Date:
03-2010
Content Type:
Policy Brief
Institution:
International Crisis Group
Abstract:
Depuis l'arrivée au pouvoir de Mouammar Kadhafi en 1969, la Libye est devenue le voisin le plus important du Tchad. Pendant la présidence d'Hissène Habré, la relation devint hostile et fut marquée par différentes interventions militaires. Depuis l'entrée en fonction d'Idriss Déby, la Libye a abandonné toute revendication territoriale sur le pays et s'est transformée en parrain régional, jouant un rôle actif dans les négociations de paix entre le régime et ses rebellions. Elle a en effet les moyens financiers et l'autorité pour amener les protagonistes à négocier, mais son suivi de la mise en oeuvre des accords passés laisse souvent à désirer. Sa diplomatie a connu de brefs succès en facilitant la cooptation des rebelles par N'Djamena mais a suscité peu de progrès à long-terme pour une stabilisation du Tchad. Le contraste entre les pressions exercées pour obtenir des signatures sur les accords de paix qu'elle chaperonne et son manque d'intérêt pour leur application suggère que les médiations de Kadhafi sont moins fondées sur un désir de stabiliser le Tchad, que sur une volonté de préserver son influence régionale.
Topic:
Conflict Resolution, Diplomacy, Treaties and Agreements, and Bilateral Relations
Political Geography:
Libya and North Africa

3479. Indonesia and Australia: time for a step change

Author:
Fergus Hanson
Publication Date:
03-2010
Content Type:
Policy Brief
Institution:
Lowy Institute for International Policy
Abstract:
The relationship with Indonesia is one of Australia's most important but it is still not on a firm footing. Government-to-government ties have been strengthening but relations are focused around a mostly negative set of security-related issues. Business-to-business links are underdone and mutual public perceptions are poor. Without significant incentives to drive closer ties, one of Australia's most important relationships will continue to stagnate.
Topic:
Foreign Policy, Diplomacy, International Trade and Finance, and Bilateral Relations
Political Geography:
Asia, Australia/Pacific, and Southeast Asia

3480. Capital flows, the carry trade and 'sand in the wheels'

Author:
Stephen Grenville
Publication Date:
02-2010
Content Type:
Policy Brief
Institution:
Lowy Institute for International Policy
Abstract:
The 'carry trade', in which capital shifts from countries with low interest rates to countries with significantly higher rates, has become an important element of international capital flows over the past decade. With low interest rates in the United States, Japan, the UK and much of the rest of Europe expected to persist for some time, these flows seem likely to become larger in the aftermath of the Global Financial Crisis. Particularly for the emerging countries with shallow financial markets, interest-sensitive inflows have the potential to be disruptive. Exchange rates will tend to be overvalued for sustained periods, punctuated by sharp depreciations. These distorted and varying price signals will be unhelpful for good policy-making and steady economic growth.
Topic:
Emerging Markets, Globalization, International Trade and Finance, Foreign Direct Investment, and Financial Crisis
Political Geography:
United States, Japan, United Kingdom, and Europe