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482. Belgium, from Model to Case Study for Conflict Resolution
- Author:
- Jonas Claes and Valerie Rosoux
- Publication Date:
- 02-2011
- Content Type:
- Policy Brief
- Institution:
- United States Institute of Peace
- Abstract:
- Since 2007, Belgium has displayed a rather surreal degree of political chaos. Belgian politicians have provoked three cabinet resignations, 24 “royal” mediators, and more than 420 days of coalition formation. With the rise of Flemish nationalism and intercommunal tensions, the country seems to suffer from an intractable ethno-linguistic conflict. The maximum degree of reform Walloon parties can settle with is by far insufficient to Flemish nationalists, whose package of demands is considered unacceptable in Wallonia. One way forward is the creation of a nation-wide electoral district for federal elections in which every Belgian, regardless of residence, can vote for Flemish and Walloon candidates.
- Topic:
- Conflict Resolution, Economics, Education, Peace Studies, and Peacekeeping
- Political Geography:
- Europe and Belgium
483. West is Best?
- Author:
- Timur Kuran
- Publication Date:
- 01-2011
- Content Type:
- Journal Article
- Journal:
- Foreign Affairs
- Institution:
- Council on Foreign Relations
- Abstract:
- A new book by Ian Morris tracks the development of the East and the West over the millennia. But methodological problems lead him to miss the crucial differences between modern and premodern life -- and understate what is really keeping the West ahead.
- Topic:
- Development, Economics, and History
- Political Geography:
- China, Europe, and Middle East
484. Too Big to Fail: The Transatlantic Debate
- Author:
- Morris Goldstein and Nicolas Véron
- Publication Date:
- 01-2011
- Content Type:
- Working Paper
- Institution:
- Peterson Institute for International Economics
- Abstract:
- Although the United States and the European Union were both seriously impacted by the financial crisis of 2007, resulting policy debates and regulatory responses have differed considerably on the two sides of the Atlantic. In this paper the authors examine the debates on the problem posed by "too big to fail" financial institutions. They identify variations in historical experiences, financial system structures, and political institutions that help one understand the differences of approaches between the United States, EU member states, and the EU institutions in addressing this problem. The authors then turn to possible remedies and how they may be differentially implemented in America and Europe. They conclude on which policy developments are likely in the near future.
- Topic:
- Economics and Financial Crisis
- Political Geography:
- United States, America, and Europe
485. The Post-Washington Consensus: Development after the Crisis
- Author:
- Francis Fukuyama and Nancy Birdsall
- Publication Date:
- 03-2011
- Content Type:
- Working Paper
- Institution:
- Center for Global Development
- Abstract:
- A clear shift in the development agenda is underway. Traditionally, an agenda generated in the developed world was implemented in—and, indeed, often imposed on—the developing world. The United States, Europe, and Japan will continue to be significant sources of economic resources and ideas, but the emerging markets will become significant players. Countries such as Brazil, China, India, and South Africa will be both donors and recipients of resources for development and of best practices for how to use them. In fact, development has never been something that the rich bestowed on the poor but rather something the poor achieved for themselves. It appears that the Western powers are finally waking up to this truth in light of a financial crisis that, for them, is by no means over.
- Topic:
- Development, Economics, Emerging Markets, Poverty, and Foreign Aid
- Political Geography:
- United States, Japan, China, Europe, India, South Africa, and Brazil
486. China and Global Mega Trade Deals
- Author:
- John Whalley, Chunding Li, and Jing Wang
- Publication Date:
- 07-2011
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- The term "mega deal" has been widely used in relation to two large prospective trade deals between the United States and Europe – the Transatlantic Trade and Investment Partnership (TTIP) — and in Asia and the Pacific — the Trans-Pacific Partnership (TPP). This paper starts by exploring a possible description of trade mega deals by making an inventory of mega deals in place, under discussion or negotiation, and deals yet to be considered under different criteria. This paper also calculates the trade volume coverage and trade barrier coverage for potential mega deals, and the results show the potential impact of mega deals on trade and growth performance is large.
- Topic:
- Development, Economics, and International Trade and Finance
- Political Geography:
- United States, Europe, and Asia
487. Turkey: The Elephant in the Room of Europe
- Author:
- Hüseyin Selçuk Dönmez
- Publication Date:
- 05-2011
- Content Type:
- Working Paper
- Institution:
- Centre for Strategic Research and Analysis (CESRAN)
- Abstract:
- Turkey's accession process to the European Union (EU) has been a rather challenging issue for more than two decades now. Turkey applied for membership in 1987, "that is, three years before Cyprus and Malta and between seven and nine years before applications were lodged by ten Central and Eastern European countries (CEECs)." By the year 2011, Turkey has been waiting for 24 years to become a member of the EU. No other country in history of the EU enlargement has waited this long to become a member and not managed to become one after a quarter of a century. It would not be wrong to consider Turkey's bid to join the EU as a unique case in comparison to the former applicant countries, especially CEECs. As a result of this, there has been a continuous debate about Turkey's application and whether it has been treated differently or not. The aim of this paper is to shed a brighter light on this debate by presenting examples of different treatment towards the Turkish application. Before exploring the reasons of why and how Turkey has been treated differently, there are some key facts worth mentioning while defining Turkey's difference from other applicant countries. What makes these facts important is that they have formed the foundations of hurdles and their justifications for Turkey's possible membership in the EU. These facts will be touched upon prior to a deeper analysis.
- Topic:
- Economics, Sociology, and Culture
- Political Geography:
- Europe and Turkey
488. Is the recovery sustainable in the US and Europe?
- Publication Date:
- 02-2010
- Content Type:
- Working Paper
- Institution:
- Oxford Economics
- Abstract:
- Following the worst recession since the 1930s, the US, UK and Eurozone economies have all now returned to positive growth. With the boost from policy stimulus and the inventory cycle peaking, however, this raises questions about the sustainability of the current rebound. The analysis presented here suggests that the recoveries in both the US and Europe will be relatively muted compared to recent historical experience. The US is likely to be the growth leader, reflecting the more dynamic nature of its economy and financial sector. A key uncertainty relates to how labour markets will perform during the recovery phase. To date, the rise in US unemployment been particularly severe when compared to the experience of Europe. In light of the sharp falls in European productivity, we expect employment gains in Europe to be more muted in the recovery phase than in the US. The performance of residential real estate markets also remains important. Home prices in the US are now close to fair value by most metrics, suggesting that the correction in prices is likely to be bottoming out. In Europe, only Spain and Ireland appear to be in the midst of substantial housing market corrections. Commercial real estate markets are also facing ongoing corrections in many countries. While conditions in the US and Eurozone may deteriorate further, commercial property values appear to be stabilising in the UK following earlier sharp declines. The ability of the banking sector to finance the economic recoveries in the US and Europe remains a key risk to the growth outlook. As the process of absorbing credit losses and rebuilding capital is likely to be protracted, the normalisation of lending standards is likely to take longer than following recent recessions. This is a particular concern for the Eurozone, where bank funding is more important for companies. Whether domestic demand in the US and Europe recovers will also depend on whether private sector deleveraging has further to run. The destruction of household net wealth in the US suggests that the personal savings rate has further to rise, whereas there no longer appears to be a pressing need for households in the UK and Eurozone to consolidate their balance sheets. In contrast, non-financial corporations in the US are in a stronger financial position than their European peers, having not increased debt levels as rapidly during the credit boom. Risks around public finances have received the most attention in recent weeks. In particular, the adjustments underway in Greece pose a risk of potential contagion from sovereign credit risk that could threaten growth on both sides of the Atlantic.
- Topic:
- Economics, Markets, and Financial Crisis
- Political Geography:
- United States, United Kingdom, and Europe
489. The same old modernisation game? Russian interpretations of modernisation
- Author:
- Roderick Kefferpütz and Félix Krawatzek
- Publication Date:
- 09-2010
- Content Type:
- Working Paper
- Institution:
- Centre for European Policy Studies
- Abstract:
- The modernisation of Russia has been a topic of vigorous debate for centuries. It has also been an intensely divisive issue among Russia's elite, and since President Dmitry Medvedev came to power, modernisation has become the leitmotif of the presidency. The global economic crisis hit Russia hard, meaning that the status quo in political, economic and social terms is no longer acceptable. However, there are a number of competing visions on modernisation within the Russian political elite and society as a whole. This Working Document aims to illustrate the diversity of and competition for the dominance of views on Russia's future. In a second step, authors Félix Krawatzek, Visiting Researcher at CEPS and Roderick Kefferpütz, Associate Research Fellow, analyse the obstacles to a successful realisation of the ambitious modernisation agenda and outline the implications for the new EU-Russia modernisation partnership.
- Topic:
- Economics and Globalization
- Political Geography:
- Russia and Europe
490. What kind of governance for the eurozone?
- Author:
- Paul De Grauwe
- Publication Date:
- 09-2010
- Content Type:
- Policy Brief
- Institution:
- Centre for European Policy Studies
- Abstract:
- The survival of the eurozone hinges on the capacity of its leaders to improve its governance. This has become very clear since the eruption of the government debt crisis in the eurozone in 2009, which can be said to result from a failure of economic governance. In order to answer the question of how the economic governance of the eurozone should be reformed, we should first make a diagnosis of the crisis in which the eurozone has been mired since 2009.
- Topic:
- Economics, Regional Cooperation, and Governance
- Political Geography:
- Europe