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231. Is the Twin Deficits Hypothesis Valid in the case of Turkey?

Author:
Fuat Sekmen and Unsal Ozan Kahraman
Publication Date:
12-2012
Content Type:
Journal Article
Journal:
Bilgi
Institution:
Değişim Yayınları
Abstract:
This study deals with the relationship between the current account deficit and the budget deficit in Turkey. Artificial Neural Networks are employed to investigate this relationship. According to the results of the application the twin deficits hypothesis which indicates a positive correlation between the two deficits isn’t valid in Turkey. As this paper tries to analyze the factors accounting for the absence of this kind of correlation, it develops a flexible understanding which doesn’t refuse a hypothesis or a theory (the twin deficits hypothesis) completely, on the contrary, emphasizes the importance of investigating the conditions in which a hypothesis, theory or a model is valid.
Topic:
Economics, Budget, Finance, and Deficit
Political Geography:
Europe, Turkey, and Asia

232. Turkey and Taiwan: The Relationship Seeking Its Ground

Author:
Selçuk Çolakoglu and Arzu Güler
Publication Date:
01-2011
Content Type:
Policy Brief
Institution:
International Strategic Research Organization (USAK)
Abstract:
In the pre-1971 period, "One China" for Turkey was the Republic of China in Taiwan and the two countries were in cooperation against communist expansion. However, in 1971, though being reluctant for the expulsion of Taiwan from the United Nations, Turkey recognized People's Republic of China as the sole legal representative of China and pursued the "One China" policy in that respect. Thus, in the post-1971 period, Turkey's relations with Taiwan have continued only in terms of economy, trade and culture without recognizing it as an independent political unit. Beginning from early 1990s, Turkey began to take initiatives to increase its trade cooperation with Taiwan.
Topic:
Foreign Policy, Economics, International Trade and Finance, Bilateral Relations, and Culture
Political Geography:
China, Turkey, Taiwan, Asia, and United Nations

233. Benevolent Benefactor or Insensitive Regulator? Tracing the Role of Government Policies in the Development of India's Automobile Industry

Author:
Rajnish Tiwari, Cornelius Herstatt, and Mahipat Ranawat
Publication Date:
01-2011
Content Type:
Policy Brief
Institution:
East-West Center
Abstract:
India's automobile industry has witnessed an impressive run of sus - tained growth in the past two decades. The total number of vehicles produced in fiscal year 1990–91 was only 2.3 million, but by fiscal year 2009–10 this number had swelled to 14.1 million. Similarly, the value of automotive products exported by India was only US$198 million in 1990, but by 2009 the value had increased nearly twenty-five-fold to US$5 billion, representing an average annual growth rate of 26 percent and catapulting India into the league of the top fifteen exporters of automotive products worldwide
Topic:
Economics, Industrial Policy, International Trade and Finance, and Markets
Political Geography:
India and Asia

234. Inward FDI in Pakistan and its policy context

Author:
Khalil Hamdani
Publication Date:
01-2011
Content Type:
Working Paper
Institution:
Columbia Center on Sustainable Investment
Abstract:
Pakistan's large domestic market and policy environment are generally attractive to foreign direct investment, but terrorist violence and natural disasters are keeping investors at bay. Pakistan was the tenth largest recipient of inward foreign direct investment (IFDI) in Asia in 2006-2008. Pakistan has also been successful in attracting investment from other developing countries. There are successful joint ventures with parastatals. The policy regime is investorfriendly, and doing business in Pakistan is easier than in any of its neighboring countries. These advantages notwithstanding, inward FDI flows shrank by 60% in 2009-2010, a reflection of global trends and internal difficulties. Governance and terrorism are overriding preoccupations. Retaining the confidence of both foreign and domestic investors is vital. Determined efforts are needed to realize the country's considerable market potential.
Topic:
Economics, Markets, and Foreign Direct Investment
Political Geography:
Pakistan, South Asia, and Asia

235. Thailand's Development Strategy and Growth Performance

Author:
Peter Warr
Publication Date:
01-2011
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
Thailand's development strategy has been strongly market-oriented and open to trade and investment flows with the rest of the world. Since the late 1950s, its growth performance has been outstanding. Poverty incidence has declined dramatically, but economic inequality has increased. Economic progress has been reflected in very significant improvement in non-economic indicators of well-being such as life expectancy, infant and maternal morality, and literacy. Nevertheless, the performance of the education system is chronically poor. Environmental problems and institutional failures in resource management are ongoing. Reform is needed in several areas, including political and corporate governance, regulation of industry, and in the education and health systems.
Topic:
Development, Economics, Education, Emerging Markets, Poverty, and Foreign Direct Investment
Political Geography:
Asia and Southeast Asia

236. Globalization Crises, Trade, and Development in Vietnam

Author:
Philip Abbott and Finn Tarp
Publication Date:
03-2011
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
Vietnam has been among the most successful East Asian economies, especially in weathering the external shocks of recent globalization crises—the 1997-98 Asian financial crisis and the 2008-09 great recession, financial crisis and collapse of global trade. Its success contradicts its characterization as an example of export-led growth and highlights the role of the state, particularly in maintaining and influencing investment. Examination of economic performance and policy responses shows rising dependence on foreign finance around each crisis, and actions by the government to counteract that dependence and bolster the domestic economy while continuing to restructure the economy toward greater emphasis on the private sector. Growth, employment and poverty alleviation have been maintained at the expense of renewed inflation, larger budget deficits, and currency depreciation. The 'stop-go' nature of present …
Topic:
Development, Economics, Globalization, and International Trade and Finance
Political Geography:
Asia

237. Public and Elite Views on Europe vs. China in Africa

Author:
Lorenzo Fioramonti and Patrick Kimunguyi
Publication Date:
03-2011
Content Type:
Journal Article
Journal:
The International Spectator
Institution:
Istituto Affari Internazionali
Abstract:
Europe has been the privileged economic and political partner of Africa, but more recently China has increased its foothold in Africa through important financial investments and trade agreements. Against this backdrop, the empirical research conducted in 2007-08 in Kenya and South Africa as part of a pioneering international project investigates the perceptions of public opinion, political leaders, civil society activists and media operators. While confirming their continent's traditional proximity to Europe, African citizens are increasingly interested in China and its impact on Africa's development. Europe is criticised for not having been able to dismiss the traditionally 'patronising' attitude towards Africa. While African civil society leaders and media operators describe China as an opportunity for Africa to break free of its historical dependence on European markets, other opinion leaders warn against too much enthusiasm for the Asian giant. There is a suspicion that the Chinese strategy might, in the long run, turn into a new form of economic patronage.
Topic:
Civil Society and Economics
Political Geography:
Kenya, Africa, China, Europe, Asia, and South Africa

238. Beyond Rhetoric: Sino-Indian Relations in an Era of Interdependence - Asian Knowledge-Based Economics: Complex and Convoluted

Author:
Aditi Malik and Maria Y. Wang
Publication Date:
05-2011
Content Type:
Journal Article
Journal:
Journal of International Affairs
Institution:
School of International and Public Affairs, Columbia University
Abstract:
With the simultaneous rise of two titans in Asia, India and China, what are the features that mark their relations with one another? Furthermore, what can current relations tell us about future prospects for peace between the two nations? These are the fundamental questions with which Jonathan Holslag is concerned. He notes that these are not new questions but ones that have been the subject of continuous debate. He argues that this debate has broadly produced two camps: the first camp is focused on the “security relationship,” while the second analyzes the above questions from the perspective of the increased interdependence between the two nations. Holslag aims to situate his work by taking into account information from both camps.
Topic:
Security and Economics
Political Geography:
China, India, and Asia

239. It's Not Only Rents: Explaining the Persistence and Change of Neopatrimonialism in Indonesia

Author:
Nina Korte
Publication Date:
05-2011
Content Type:
Working Paper
Institution:
German Institute of Global and Area Studies
Abstract:
Indonesia has long been associated with neopatrimonialism, corruption, collusion, and nepotism as the main modi operandi of politics, economics and public administration. Despite various measures and initiatives to fight these practises, little evidence for a significant decline can be found over the years. Rather, longitudinal analysis points to changes in the character of neopatrimonialism. Based on more than 60 in-depth interviews, focus-group discussions, and the analysis of both primary and secondary data, the aim of this article is, first, to describe the changes that have taken place, and, second, to investigate what accounts for these changes. Political economy concepts posit the amount and development of economic rents as the explanatory factor for the persistence and change of neopatrimonialism. This study's findings, however, indicate that rents alone cannot explain what has taken place in Indonesia. Democratisation and decentralisation exert a stronger impact.
Topic:
Corruption, Democratization, Economics, and Authoritarianism
Political Geography:
Indonesia, Asia, and Southeast Asia

240. Global fiscal consolidation

Author:
Warwick McKibbin
Publication Date:
05-2011
Content Type:
Working Paper
Institution:
Lowy Institute for International Policy
Abstract:
The build up in government debt in response to the 'great recession' has raised a number of policy dilemmas for individual countries as well as the world as a whole. Where the government fiscal stimulus was seen as necessary to restore confidence to markets and stimulate deteriorating economies in the aftermath of the 'great recession' by 2010 the massive fiscal stimulus programs and associated run-up in debt had, for many economies, become a confidence sapping exercise. This need for a change of fiscal policy stance has fuelled another debate that has two related aspects. One is the impact of fiscal consolidation on economies that are tightening and the flow-on effects to the world economy. The other debate is how much tightening there should be and how quickly.
Topic:
Debt, Economics, Global Recession, and Financial Crisis
Political Geography:
Asia and Australia/Pacific