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291. China Brief, A Prisoner's Dilemma: The EU's China Arms Embargo

Author:
Willy Lam, Richard A. Bitzinger, Alexandr Nemets, and Enzio Von Pfeil
Publication Date:
06-2004
Content Type:
Policy Brief
Institution:
The Jamestown Foundation
Abstract:
In April, the European Union (EU) dodged a bullet by refusing to take up the issue of overturning its 15-year-old ban on selling arms to China. Supporters of lifting the embargo, led by France and Germany, are unlikely to abandon their quest, however, and the issue will likely come up again for review, perhaps as early as this summer. If it lifts the ban, the EU risks further damaging a transatlantic alliance already strained over Iraq and other issues, with very little likelihood that its defense industry would see much, if any, benefit.
Topic:
International Relations, Government, and Political Economy
Political Geography:
China, Europe, and Israel

292. China Brief,China's Reaction to America's Iraq Imbroglio

Author:
You Ji, Igor Rotar, Willy Lam, and Eric Teo
Publication Date:
04-2004
Content Type:
Policy Brief
Institution:
The Jamestown Foundation
Abstract:
The Chinese Communist Party (CCP) leadership has been at pains not to appear to be gloating over the American quagmire in Iraq. Yet in terms of geopolitical calculus, there is little doubt Beijing sees America's worsening problems in Iraq as beneficial to China's global standing, diplomatically and militarily. Capitalizing on fissures in the international community over Iraq and America's war on terror, China has strengthened ties with key members of the European Union and the United Nations in an effort to counterbalance U.S. hegemony. Meanwhile, Chinese experts' scrutiny of the exploits as well as challenges of American and Allied Forces in Iraq will have a big impact on the People's Liberation Army's (PLA) ambitious modernization drive.
Topic:
International Relations, Government, and Political Economy
Political Geography:
China, Iraq, America, Europe, Israel, and Beijing

293. Majority Rules and Incentives—International voting affects domestic policies

Author:
Bård Harstad
Publication Date:
03-2004
Content Type:
Working Paper
Institution:
Norwegian Institute of International Affairs
Abstract:
A “majority rule” defines the number of club-members that must approve a policy proposed to replace the status quo. Since the majority rule thus dictates the extent to which winners must compensate losers, it also determines the incentives to invest in order to become a winner of anticipated projects. If the required majority is large, the members invest too little because of a hold-up problem, if it is small, the members invest too much in order to become a member of the majority coalition. To balance these opposing forces, the majority rule should increase in the level of minority protection (or enforcement capacity) and the project's value but decrease in the ex post heterogeneity. Strategic delegation turns out to be sincere exclusively under this majority rule. Externalities can be internalized by adjusting the rule. With heterogeneity in size or initial conditions, votes should be appropriately weighted or double majorities required. The analysis provides recommendations for Europe's future constitution.
Topic:
Government, Human Rights, and Politics
Political Geography:
Europe

294. Employment Protection: Costs and Benefits of Greater Job Security

Publication Date:
09-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
Deregulating labour markets – for example making it easier for firms to hire and fire employees – is at the heart of the employment debate in many OECD countries. Laws on firing or layoffs and other employment protection regulations are thought by many to be a key factor in generating labour market "rigidity", as well as one reason for the large differences in labour market performance among OECD countries, notably between the United States and some of the larger European countries.
Topic:
Civil Society, Development, Economics, and Government
Political Geography:
Europe

295. Economic Survey of Portugal, 2004

Publication Date:
09-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
Convergence of the Portuguese economy toward the more advanced OECD economies seems to have halted in recent years, leaving a significant gap in per capita incomes. The proximate cause is low labour productivity, as employment rates across the board are substantially higher than the EU average. Nor is there a shortage of capital goods in aggregate. But capital equipment in the business sector is not always efficiently used or allocated, and new technologies are not readily adopted. Furthermore, the Portuguese labour force – even its younger members – have had less formal education than workers in other EU countries, including among the new entrants from Central and Eastern Europe, and workers in Portugal also have less access to training than in many other countries. Traditional Portuguese low value-added highly labourintensive products now face increasing competition from developing countries and from the new EU entrants.
Topic:
Development, Economics, and Government
Political Geography:
Europe and Eastern Europe

296. "A house isn't a home without a gun" - SALW Survey of Montenegro

Publication Date:
07-2004
Content Type:
Working Paper
Institution:
South Eastern Europe Clearinghouse for the Control of Small Arms and Light Weapons
Abstract:
The SALW Survey of the Republic of Montenegro was conducted by a team of researchers from the Small Arms Survey during September to December 2003. It was funded by SEESAC for two reasons: 1) to establish management information for the design of future SALW control intervention projects within the Republic of Montenegro; and 2) to field test the recently drafted SALW Survey protocols and draft Regional Micro-Disarmament Standard (RMDS) 05.80 - SALW Survey. As such, it is the first SALW Survey to be officially conducted in accordance with the SALW Survey protocols, although previous SALW surveys and 'needs assessments' have utilised similar methodologies.
Topic:
Arms Control and Proliferation, Civil Society, and Government
Political Geography:
Europe

297. Bi-Annual Report: 01 January - 30 June 2004

Publication Date:
06-2004
Content Type:
Working Paper
Institution:
South Eastern Europe Clearinghouse for the Control of Small Arms and Light Weapons
Abstract:
In November 2001 the Stability Pact for South Eastern Europe adopted a Regional Implementation Plan on Combating the Proliferation of Small Arms and Light Weapons in South Eastern Europe, which provides a framework of approaches and measures to tackle SALW issues that can be adopted by the countries of the region and supported by international organisations and bi-lateral donors. The Implementation Plan included provision for the establishment of a regional clearinghouse to support its implementation, and on the basis of this mandate SEESAC was officially launched in Belgrade on the 08 May 2002 as a joint UNDP and Stability Pact initiative.
Topic:
Arms Control and Proliferation, Civil Society, and Government
Political Geography:
Europe

298. Bi-Annual Report: 01 July - 31 December 2003

Publication Date:
01-2004
Content Type:
Working Paper
Institution:
South Eastern Europe Clearinghouse for the Control of Small Arms and Light Weapons
Abstract:
In November 2001 the Stability Pact for South Eastern Europe adopted a Regional Implementation Plan on Combating the Proliferation of Small Arms and Light Weapons in South Eastern Europe, which provides a framework of approaches and measures to tackle SALW issues that can be adopted by the countries of the region and supported by international organisations and bi-lateral donors. The Implementation Plan included provision for the establishment of a regional clearinghouse to support its implementation, and on the basis of this mandate SEESAC was officially launched in Belgrade on the 08 May 2002 as a joint UNDP and Stability Pact initiative.
Topic:
Arms Control and Proliferation, Civil Society, and Government
Political Geography:
Europe

299. Is The Corporate Loan Market Globally Integrated? A Pricing Puzzle

Author:
Mark Carey and Gregory P. Nini
Publication Date:
08-2004
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
We offer evidence that interest rate spreads on syndicated loans to corporate borrowers are economically significantly smaller in Europe than in the U.S., other things equal. Differences in borrower, loan and lender characteristics associated with equilibrium mechanisms suggested in the literature do not appear to explain the phenomenon. Borrowers overwhelmingly issue in their natural home market, and bank portfolios display significant home “bias.” This may explain why pricing discrepancies are not competed away, but the fundamental causes of the discrepancies remain a puzzle. Thus, important determinants of loan origination market outcomes remain to be identified, home “bias” appears to be material for pricing, and corporate financing costs differ in Europe and the U.S.
Topic:
Economics, Government, and International Trade and Finance
Political Geography:
United States and Europe

300. Benefits and Spillovers of Greater Competition in Europe: A Macroeconomic Assessment

Author:
Tamim Bayoumi, Douglas Laxton, and Paolo Pesenti
Publication Date:
04-2004
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
Using a general-equilibrium simulation model featuring nominal rigidities and monopolistic competition in product and labor markets, this paper estimates the macroeconomic benefits and international spillovers of an increase in competition. After calibrating the model to the euro area vs. the rest of the industrial world, the paper draws three conclusions. First, greater competition produces large effects on macroeconomic performance, as measured by standard indicators. In particular, we show that differences in competition can account for over half of the current gap in GDP per capita between the euro area and the US. Second, it may improve macroeconomic management by increasing the responsiveness of wages and prices to market conditions. Third, greater competition can generate positive spillovers to the rest of the world through its impact on the terms of trade.
Topic:
Economics, Government, and International Trade and Finance
Political Geography:
Europe