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221. Why Is There a Productivity Problem in the EU?

Author:
Francesco Daveri
Publication Date:
07-2004
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
Magazines and newspapers often refer to or even take for granted the economic decline of the EU, particularly when contrasting the EU data with US data. The first part of this paper poses the question of whether IT – as often alleged – is really the only cause for the EU's productivity slowdown. The conclusion is that it is not. The non-IT part of the economy has not only contributed to the slowdown but appears to have crucially contributed to the EU-US growth gap as well. There is thus little reason for the EU to target IT-diffusion as an intermediate goal, as implied by the Lisbon strategy. The second part of the paper, after showing that the growth slowdown comes from the reduction of non-IT capital deepening and the lack of acceleration in total factor productivity growth, argues that the slowdown of capital deepening will continue. The scarce resources available for enhancing growth should concentrate on providing incentives to R and innovation at large, rather than financing traditional infrastructures. This is at odds with the goals pursued by the EU within the framework of the European Growth Initiative.
Topic:
Development, Economics, and Treaties and Agreements
Political Geography:
Europe

222. Economic Policy Coordination in EMU: What Role for the SGP?

Author:
Jørgen Mortensen
Publication Date:
06-2004
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
The present paper discusses the implications of the recent institutional crisis in the EU provoked by the failure of the Economic and Financial Affairs Council (ECOFIN) to impose the sanction on Germany and France provided for in the Stability and Growth Pact, along with Article 104 and the associated protocol of the Maastricht Treaty. The paper situates the debate concerning the application of the Stability and Growth Pact (SGP) in a broader evolution of the struggle between two schools of thought concerning macroeconomic policy–making in the European Union: the school calling for a strengthening of competences at the EU level (federal economic government) and the school arguing for preserving national competences for budgetary policy even in the face of the transfer of competence for monetary policy to the European Central Bank (ECB). The paper argues that the SGP represents an acceptable comprise between the two views of the schools in so far as it establishes rules to be respected without actually transferring competence to the Council in the field of budgetary policy. Consequently, the SGP has not and does not add to the 'democratic deficit' within the EU institutional framework. The paper argues, nevertheless, that the excessive deficit procedure (EDP) puts too strong an emphasis on the government budget deficit and suggests that emphasis on the sustainable level of public debt would ensure a stronger basis for assessing whether a given budget deficit may be considered excessive or not.
Topic:
Defense Policy, Economics, and Treaties and Agreements
Political Geography:
Europe, France, and Germany

223. European Union Defense Policy: An American Perspective

Author:
Leslie S. Lebl
Publication Date:
06-2004
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
For almost 50 years, proposals by the European Union to develop a common foreign and security policy for all member states failed. Since the late 1990s, however, the situation has changed. Despite, or perhaps because of, member states' disagreements over Iraq, the EU probably will continue to develop common foreign and security policies, and the European Commission may begin to play a role in developing new European military capabilities.
Topic:
International Relations, Foreign Policy, Defense Policy, and Treaties and Agreements
Political Geography:
Iraq, America, Europe, and Middle East

224. Beyond Kyoto: Real Solutions to Greenhouse Emissions from Developing Countries

Author:
Roger Bate and David Montgomery
Publication Date:
07-2004
Content Type:
Working Paper
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Whether the Kyoto Protocol is ever ratified is fast becoming irrelevant. Many of the European nations that ratified the convention are failing to reach their targets, while developing countries, not required to comply with Kyoto, claim they will never participate in targets and timetables, as it would retard their economic growth. Given that developing countries are likely to emit well over half of future greenhouse gases (GHGs), a more promising strategy would be to devise an approach that limits emissions while helping development.
Topic:
Economics, Environment, Treaties and Agreements, and Third World
Political Geography:
Europe

225. EU Emissions Trading: Challenges and Implications of National Implementation

Author:
Jacqueline Karas and Fiona Mullins
Publication Date:
11-2003
Content Type:
Working Paper
Institution:
Chatham House
Abstract:
Emissions trading is central to the European Union's (EU) strategy to meet its climate change commitments under the Kyoto Protocol. However, implementing the EU Directive on emissions trading ('the Directive') is proving extremely challenging for the governments involved. In particular, governments have to prepare National Allocation Plans (NAPs) for distributing emissions allowances to industry within a very tight timeframe. More than 12,000 industrial installations across the EU and accession countries will participate in the trading system.
Topic:
Climate Change, Markets, and Treaties and Agreements
Political Geography:
Europe

226. Ethiopia and Eritrea: War or Peace?

Publication Date:
09-2003
Content Type:
Working Paper
Institution:
International Crisis Group
Abstract:
The next few weeks will go far to determining whether Ethiopia and Eritrea resume a path toward war - which took some 100,000 lives between 1998 and 2000 - or solidify their peace agreement. Ethiopia must decide whether to allow demarcation of the border to begin in October 2003 even though the international Boundary Commission set up under the Algiers agreement that ended the fighting has ruled that the town of Badme - the original flashpoint of the war - is on the Eritrean side. The outcome will have profound implications for both countries and the entire Horn of Africa, as well as for international law and the sanctity of binding peace agreements and arbitration processes. The international community, particularly the U.S., the African Union (AU), and the European Union (EU), all of which played major roles in brokering the Algiers agreement, need to engage urgently to help Ethiopia move the demarcation forward and to assist both parties to devise a package of measures that can reduce the humanitarian costs of border adjustments and otherwise make implementation of the demarcation more politically palatable.
Topic:
Conflict Resolution, International Cooperation, Treaties and Agreements, United Nations, and War
Political Geography:
Africa, Europe, North Africa, and Ethiopia

227. The Dog that Would Never Bite? The Past and Future of the Stability and Growth Pact

Author:
Martin Heipertz and Amy Verdun
Publication Date:
11-2003
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
This paper analyses the underlying reasons for the creation of the Stability and Growth Pact (SGP) and its subsequent development in recent years. The paper examines the economic and political factors behind it, including the role of economic ideas, experts, politicians, institutional arrangements in the Maastricht Treaty, domestic politics, and the exceptional position of Germany in the realm of monetary integration in the EU. It concludes that a set of commonly held beliefs together with a corresponding power-political constellation explain the creation of the SGP.
Topic:
International Political Economy, International Trade and Finance, and Treaties and Agreements
Political Geography:
Europe and Germany

228. Summit with Substance: Creating Payoffs in an Unequal Partnership

Author:
Andrew Kuchins
Publication Date:
05-2002
Content Type:
Policy Brief
Institution:
Carnegie Endowment for International Peace
Abstract:
U.S. president George W. Bush and Russian president Vladimir Putin have an important opportunity at their upcoming meeting to reach key agreements, remove major irritants in U.S.–Russian relations, and initiate a genuine partnership less burdened by Cold War legacies. In Europe last summer and in the United States last November, the two leaders established personal chemistry and trust—but the meetings lacked substance. Although Putin's leadership position will not be made or broken on his foreign policies, this time it will be important for his pro-Western orientation to produce a concrete payoff for Russia. As for President Bush, if the summit fails to produce results, then his vaunted Russia policy will be seen to be drifting. Thus both men require real outcomes such as a signed, legally binding nuclear arms reduction agreement and a new institutional relationship with the North Atlantic Treaty Organization (NATO). Perhaps just as important, however, Putin and Bush each must explain to his own country why this partnership is important and what are its key elements.
Topic:
Diplomacy, Nuclear Weapons, and Treaties and Agreements
Political Geography:
Russia, United States, Europe, North Atlantic, and Asia

229. The Nuclear Dimension of U.S.-Russian Relations: Missile Defense, Arms Control and 'Loose Nukes'

Author:
Rose Gottemoeller
Publication Date:
08-2002
Content Type:
Working Paper
Institution:
Aspen Institute
Abstract:
The United States and Russia are entering an important stage following the Presidential summit of May 2002. Since Presidents Bush and Putin first started getting to know one another last year, they have been declaring the onset of a fundamentally new relationship, based on a new framework for strategic cooperation. Both leaders have declared that the Cold War is over and that our two countries can exist as friends.
Topic:
Cold War, Treaties and Agreements, and Weapons of Mass Destruction
Political Geography:
Russia, United States, Europe, and Asia

230. The Adapted CFE Treaty and the Admission of the Baltic States to NATO

Author:
Zdzislaw Lachowski
Publication Date:
12-2002
Content Type:
Working Paper
Institution:
Stockholm International Peace Research Institute
Abstract:
Twelve years after conventional arms control began in Europe, the process is about to enter a new, critical stage as it extends to cover the entire continent. This will eventually rid it of the cold war 'straitjacket' and consolidate political and military security in the space extending from the Atlantic to the Urals.
Topic:
NATO and Treaties and Agreements
Political Geography:
Europe