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21. Safety of Crude Oil by Rail

Author:
David Pumphrey, Lisa Hyland, and Michelle Melton
Publication Date:
03-2014
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies
Abstract:
In the last several years, rail has come to play an important role in the transportation of growing U.S. crude oil production. Over the last seven months, a number of serious accidents have resulted in intense review of the safety of shipping large quantities of oil by rail. The focus has been on classification of the oil, the integrity of tank cars, and rail operations. Regulatory processes have been initiated to attempt to deal with these issues in a timely manner. This analysis provides facts that illuminate the players, concerns, current status of regulatory action, as well as the potential issues going forward.
Topic:
Climate Change, Energy Policy, International Trade and Finance, Markets, National Security, and Oil
Political Geography:
United States, Canada, and North America

22. Governance Transfer in the North American Free Trade Agreement (NAFTA)

Author:
Francesco Duina
Publication Date:
02-2014
Content Type:
Working Paper
Institution:
Collaborative Research Center (SFB) 700
Abstract:
While NAFTA itself does not contain any provisions for governance transfer, its two side agreements (NAALC, NAAEC) prescribe standards in the realm of human rights (labor, environment), the rule of law, and good governance and create a number of instruments for their (indirect) promotion. Through technical assistance, fora for dialogue and exchange, monitoring, and complaints procedures that can result in monetary sanctions, the side agreements aim at promoting the effective enforcement of national law rather than regional standards. These provisions reflect the same concerns in the United States and Canada that lead to the conclusion of the two side agreements in the first place: creating conditions for fair competition in light of Mexico's failure to effectively enforce national laws, resulting in de facto lower labor and environmental standards and thus lower costs compared to the northern neighbours. Beyond formal governance transfer, NAFTA has had an impact on domestic governance reforms in Mexico since the early 1990s as it was used as leverage in both international negotiations and Mexican domestic politics.
Topic:
Economics, International Trade and Finance, and Treaties and Agreements
Political Geography:
United States, America, Canada, North America, and Mexico

23. Crying over Spilt Milk: The History of Dairy Supply Management and Its Role in Recent Trade Negotiations

Author:
Bruce Muirhead
Publication Date:
04-2014
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
Canada's system of dairy supply management, where domestic supply is matched with domestic demand, has come under fire in recent years, criticized for being a regulated model in an increasingly deregulated world. This background paper explores the historical evolution of dairy in Canada, and why supply management was eventually implemented in the 1960s, bringing rationality and organization to an industry where none had existed before. It also examines the role of international trade negotiations, largely sponsored by the General Agreement on Tariffs and Trade (GATT) and, after 1995, by the World Trade Organization (WTO), in addressing issues of agricultural protectionism and exceptionalism. It was not until the Uruguay Round (1986–1993), however, that agriculture was included in these negotiations, as neither the European Union (and its antecedents) nor the United States demonstrated any interest. While Uruguay was a tentative beginning, the subsequent Doha Round has dissolved over agricultural problems. In all these venues, supply management has been protected by Canadian governments, but rising international pressure has led Canada to begin to reconsider its support, especially as bilateral trade negotiations and partners are unequivocally opposed to dairy supply management.
Topic:
Agriculture, Economics, International Trade and Finance, World Trade Organization, and Bilateral Relations
Political Geography:
Canada and North America

24. High Tech: The Next Wave of Chinese Investment in America

Author:
Daniel H. Rosen and Thilo Hanemann
Publication Date:
04-2014
Content Type:
Working Paper
Institution:
Asia Society
Abstract:
WHILE CHINA STARTED INVESTING AROUND THE WORLD in the early 2000s, the first waves of Chinese overseas investment targeted mostly extractive mining activities in developing countries and resource-rich advanced economies such as Australia and Canada. Over the past five years, however, Chinese capital has begun to flow into non-extractive sectors in advanced economies, increasingly targeting technology- and innovation-intensive industries. Initially, the surge of Chinese outward foreign direct investment (OFDI) in the United States largely responded to opportunities in energy and real estate, but access to technology and innovation is now becoming an important driver. In the first quarter of 2014 alone, Chinese investors announced high-tech deals worth more than $6 billion, including the takeovers of Motorola Mobility, IBM's x86 server unit, and electric carmaker Fisker.
Topic:
Economics, International Trade and Finance, and Foreign Direct Investment
Political Geography:
China, America, Canada, Asia, and Australia

25. Chinese global investment growth pauses

Author:
Derek M. Scissors
Publication Date:
07-2014
Content Type:
Working Paper
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Chinese foreign investment declined through mid-2014 for the first time since the financial crisis. By sector, energy draws the most investment, but a slump in energy spending means that metals and real estate have been more prominent so far in 2014. The United States has received the most Chinese investment since 2005, followed by Australia, Canada, and Brazil. China invests first in large, resource-rich nations but has also diversified by spending more than $200 billion elsewhere. Chinese investment benefits both China and the recipient nation, but host countries must consider thorny issues like Chinese cyberespionage and subsidies.
Topic:
Economics, Human Rights, International Trade and Finance, Terrorism, and Foreign Direct Investment
Political Geography:
United States, China, Canada, Asia, Brazil, and Australia

26. Transatlantic Economic Agreements: Parsing CETA and TTIP

Author:
Patricia M. Goff
Publication Date:
07-2014
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
In October 2013, Prime Minister Stephen Harper announced that the Government of Canada had reached a "political agreement" with the European Union on the Comprehensive Economic and Trade Agreement (CETA). The timing of Mr. Harper's statement was not coincidental. Evidence suggests that talks between Canada and the European Union are actually continuing several months after his announcement, if only on technical elements. Nonetheless, it seems the Government of Canada wanted to signal that a successful end to Canada-EU talks was in sight, just as talks between the United States and the European Union were getting under way towards the Trans-Atlantic Trade and Investment Partnership (TTIP). The Canadian government did not want to risk a redirection of European energies away from the Canadian negotiation toward their American counterparts.
Topic:
Economics and International Trade and Finance
Political Geography:
Europe and Canada

27. The Northwest Territories and Arctic Maritime Development in the Beaufort Area

Author:
John Higginbotham and Marina Grosu
Publication Date:
05-2014
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
The Arctic is facing remarkable climatic and oceanic change that is triggering unprecedented opportunities and challenges for Arctic nations, as well as for countries that do not have Arctic territory but are eager to engage and invest in the region. For Canada and the United States, the Beaufort basin offers unique opportunities for Alaska and Canada's Arctic territories.
Topic:
Economics, International Trade and Finance, and Bilateral Relations
Political Geography:
United States, Canada, North America, and Arctic

28. Should Korea Join the Trans-Pacific Partnership?

Author:
Jeffrey J. Schott and Cathleen Cimino
Publication Date:
09-2014
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
The negotiation of the Trans-Pacific Partnership (TPP), a megaregional agreement to lower barriers to trade and investment and promote economic integration in the Asia-Pacific region, has been a dynamic process with a number of countries joining the talks in midstream. Since negotiations began in March 2010, participation in the TPP talks has expanded several times to include Malaysia (October 2010), Vietnam (December 2010), Canada and Mexico (October 2012), and Japan (July 2013). In November 2013, Korea announced its interest in participating in the TPP and began consulting with the countries involved. The TPP now has 12 participants. Korea is still considering whether to become lucky 13.
Topic:
Economics, International Trade and Finance, and Bilateral Relations
Political Geography:
Malaysia, Canada, Asia, Vietnam, Korea, and Mexico

29. A Markov Switching Approach to Herding

Author:
Pierre Siklos, Martin T. Bohl, and Arne C. Klein
Publication Date:
12-2013
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
Existing models of market herding suffer from several drawbacks. Measures that assume herd behaviour is constant over time or independent of the economy are not only economically unreasonable, but describe the data poorly. First, if returns are stationary, then a two-regime model is required to describe the data. Second, existing models of time-varying herding cannot be estimated from daily or weekly data, and are unable to accommodate factors that explain changes in this behaviour. To overcome these deficiencies, this paper proposes a Markov switching herding model. By means of time-varying transition probabilities, the model is able to link variations in herding behaviour to proxies for sentiment or the macroeconomic environment. The evidence for the US stock market reveals that during periods of high volatility, investors disproportionately rely on fundamentals rather than on market consensus.
Topic:
Economics, Globalization, International Trade and Finance, Markets, and Financial Crisis
Political Geography:
United States and Canada

30. Transnational Challenges and Future Security Cooperation: The Australia-Canada Relationship

Author:
Sarah Norgrove
Publication Date:
09-2013
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
The possibilities for future Asia-Pacific security cooperation between Australia and Canada are promising. Economic development and population growth mean that security challenges present themselves as opportunities. Australia and Canada are well positioned to influence regional approaches to transnational challenges such as crime, terrorism, piracy and environmental degradation, and to contribute to food, energy and cyber security. This paper explores the current state of security cooperation between Australia and Canada in the Asia-Pacific, and identifies opportunities to extend the relationship, focussing on collaborative efforts like economic and maritime cooperation, which may help tackle transnational security challenges.
Topic:
Security, Development, Economics, International Trade and Finance, and Treaties and Agreements
Political Geography:
Canada, Asia, and Australia