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231. Towards an Enhanced Polish-Spanish Partnership

Author:
Bartlomiej Znojek
Publication Date:
12-2011
Content Type:
Policy Brief
Institution:
The Polish Institute of International Affairs
Abstract:
In Autumn 2011, parliamentary elections took place in Poland and Spain. In both countries centre-right parties came out triumphant, but the new governments will hold power in extremely challenging times. The much-desired economic recovery in the EU has yet to come to pass and economic issues will dominate national political agendas. Poland Prime Minister Donald Tusk's coalition government of Civic Platform (PO) and its junior partner, Polish People's Party (PSL), will have to make significant reforms to reduce public debt and minimize the risk of recession. In Spain, however, Mariano Rajoy's People's Party (PP), the majority government, will have much harder work to do. It will need to restore international confidence in the Spanish economy, implement further measures aimed at stimulating economic growth and reducing the country's record-high unemployment. The success will depend on close cooperation among EU member states. Indeed, it is not only European economic recovery at stake but also the future of European integration. The present difficulties have been feeding euroscepticism and doubts about the integrity of the EU. With their strong record as the most vocal supporters and beneficiaries of the membership to the bloc, Poland and Spain could champion efforts advocating solidarity and further integration in the EU. The urgency and scale of the issues concerning the Union give a perfect opportunity for these new governments to renew a common agenda and enhance their bilateral relationship.
Topic:
Foreign Policy, Diplomacy, International Trade and Finance, Treaties and Agreements, and Bilateral Relations
Political Geography:
Europe, Poland, and Spain

232. European Neighbourhood Policy: How to Reconcile EU's Offer with Neighbour's Expectations?

Author:
Beata Wojna and Monika Arcipowska
Publication Date:
11-2011
Content Type:
Policy Brief
Institution:
The Polish Institute of International Affairs
Abstract:
Since its launch in 2004, the ENP has succeeded in bringing about a strengthening of economic relations, especially trade, between the EU and its neighbours. However, the political record of the seven-year implementation of this policy is relatively poor. The violent, unprecedented socio-political changes in North Africa and the Middle East, which started in January 2011, revealed weaknesses and problems in the European policy towards its southern neighbours as developed in the framework of the Barcelona Process and the Union for the Mediterranean. Arab spring has shown that the EU support to introduce political reforms and to build and consolidate democracy in the southern neighbouring countries has yielded very limited results. The Eastern Partnership seems to be one of the few positive manifestations of the European Neighbourhood Policy's evolution in recent years but is not free from problems. The most tell-tale sign of the Eastern Partnership's deficiencies is a palpable relapse in democratisation.
Topic:
Foreign Policy, Economics, International Trade and Finance, and Regional Cooperation
Political Geography:
Africa, Europe, and Middle East

233. European Perspectives for Moldova: Challenges and Obstacles

Author:
Anna Maria Dyner and Anita Emőke Sobják
Publication Date:
10-2011
Content Type:
Policy Brief
Institution:
The Polish Institute of International Affairs
Abstract:
Moldova appeared for the first time on the horizon of EU foreign policy in the second half of the '90s, but a comprehensive policy towards that country only started to be contoured with the launching of the Eastern Partnership (EaP) in 2009. The Warsaw Declaration of the second EaP summit acknowledged “the European aspirations and the European choice” of Moldova, and as such, the EaP initiative might be treated as a preaccession stage. Issues currently on the negotiation table are visa regime liberalization, signing the Association Agreement (which is to replace the PCA) and the establishment of an EU–Moldova free-trade area by a Deep and Comprehensive Free Trade Agreement.
Topic:
International Trade and Finance, Political Economy, Regional Cooperation, and Treaties and Agreements
Political Geography:
Europe

234. Asian Regional Policy Coordination

Author:
Edwin M. Truman
Publication Date:
12-2011
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
This paper addresses two central questions for Asia and the world: (1) What is the purpose of Asian regional policy coordination going forward? (2) Will Asian regional policy coordination substitute or complement global policy coordination? The paper examines the potential coverage and content of such policy coordination, what is meant by Asia in this context, and how Asia fits in with global policy coordination processes. Truman addresses three related aspects of Asian regional policy coordination: macroeconomic policies, reserve management, and crisis management. He concludes that while the countries in the Asian region have not completely exploited the scope for regional policy coordination, more ambitious efforts focused on close integration are not likely to bear fruit, in particular, if they are conceived and promoted under the banner of Asian exceptionalism. These conclusions are based on two main considerations: First, Asian economies differ, and will continue to differ, sufficiently in size and stage of development such that it is difficult to conceive of a successful voluntary blending of their interests. Second, the central lesson of the global financial crisis and its current European coda is that global economic and financial integration has advanced sufficiently that countries can run but they cannot hide individually or in sub-global groups of countries.
Topic:
Economics, International Trade and Finance, and Regional Cooperation
Political Geography:
Europe and Asia

235. US Lessons for the Eurozone: Restoring Confidence through Transparency

Author:
Julie Chon
Publication Date:
12-2011
Content Type:
Policy Brief
Institution:
Atlantic Council
Abstract:
When it comes to resolving financial crises, size matters, but so does transparency. In both the US and European crises, the drive for size—firing off enough public funds to plug the hole in the financial system—has proven to be self-defeating as markets raise ever higher, unrealistic, and inappropriate expectations for government policy. This strategy addresses some of the economics and none of the politics of crisis management. The race to meet the size test distracts policymakers from addressing the real impediment to restoring investor and public confidence: the inherent uncertainty and lack of transparency associated with extraordinary government actions in times of crisis. The absence of transparent decision-making inflicts a costly blow to the credibility of policymakers because markets and citizens cannot see or believe what leaders are doing to stabilize the financial system.
Topic:
Debt, Economics, International Trade and Finance, and Financial Crisis
Political Geography:
United States and Europe

236. Mapping the Economic and Financial Future

Publication Date:
07-2011
Content Type:
Working Paper
Institution:
Atlantic Council
Abstract:
In 2008 and 2009 political and business leaders scrambled to stabilize the financial system and avert a slide into world-wide depression as a financial crisis of historic proportions spread across the globe. A series of bold emergency measures succeeded in defusing the crisis, and these same leaders began searching for ways to avoid a similar breakdown in the future. At the same time, the effort to restart economic growth and job creation began in earnest.
Topic:
Economics, International Cooperation, International Trade and Finance, and Financial Crisis
Political Geography:
United States and Europe

237. Whose Economy? Winners and losers in the new Scottish economy

Author:
Katherine Trebeck
Publication Date:
01-2011
Content Type:
Working Paper
Institution:
Oxfam Publishing
Abstract:
In the UK, persistent poverty exists alongside high economic prosperity, leading to significant inequalities in income and wealth, and in life chances and lifestyles, between individuals and communities. Scottish society is also deeply divided: 'wealthy and secure neighbourhoods are situated next to the most deprived and vulnerable communities [where]… inequality is tangible'.
Topic:
Development, Economics, International Trade and Finance, and Markets
Political Geography:
Europe

238. Security developments in East Asia: what implications for the EU?

Author:
Nicola Casarini
Publication Date:
02-2011
Content Type:
Policy Brief
Institution:
European Union Institute for Security Studies
Abstract:
East Asia is home to some of the most important trading partners of the Union. China is foremost among these, ranking second only to the US - in 2009, EU-China trade totalled a massive €296 billion - while the EU is China's most important trading partner. Japan is the sixth-largest trade partner of the EU - in 2009, EU-Japan trade was almost €92 billion. South Korea is the EU's eighth-largest trade partner and the EU has become South Korea's second largest export destination - total trade in 2009 was above €53 billion. Furthermore, on 6 October 2010 the EU and South Korea signed a Free Trade Agreement (FTA) which is the most ambitious bilateral trade agreement ever negotiated by the EU, and the first with an Asian country.
Topic:
International Trade and Finance
Political Geography:
Japan, China, Europe, Israel, Asia, and South Korea

239. 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

240. Does intangible capital affect economic growth?

Author:
Felix Roth and Anna-Elisabeth Thum
Publication Date:
09-2010
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
Using new international comparable data on intangible capital investment by business within a panel analysis from 1995-2005 in an EU-15 country sample, we detect a positive and significant relationship between intangible capital investment by business and labour productivity growth. This relationship is cross-sectional in nature and proves to be robust to a range of alterations. Our empirical analysis confirms previous findings that the inclusion of business intangible capital investment into the asset boundary of the national accounting framework increases the rate of change of output per worker more rapidly. In addition, intangible capital is able to explain a significant portion of the unexplained international variance in labour productivity growth and when incorporating business intangibles, capital deepening becomes an even more significant source of growth. The relationship is slightly stronger in the time period 1995-2000 and seems to be driven by the coordinated countries within the EU-15.
Topic:
Economics, International Trade and Finance, Regional Cooperation, Monetary Policy, and Financial Crisis
Political Geography:
Europe