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11. IMF, Structural Adjustment, and Poverty: A Cross-National Difference-in-Differences Analysis, 1980-2018

Author:
Shih-Yen Pan, Lawrence P. King, and Elias Nosrati
Publication Date:
01-2025
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
The International Monetary Fund (IMF) has been one of the world’s most powerful international organizations in setting the parameters for economic reforms in the developing world. In this study, using data from 1980-2018 from 57 countries, we test competing hypotheses surrounding the impact of the IMF’s lending programs on poverty incidence in participant countries. Departing from the prevailing practice of relying on instrumental variables, we employ a novel difference-in-differences approach that ensures clean comparisons between “treatment” and “control” units based on their program participation histories. Besides providing a quantitative estimate of the average program effect, we evaluate whether the IMF’s alleged anti-poverty focus in recent decades has made any difference. We find that IMF program participation leads to large increases (3.6-5.7 percentage points) in the proportion of a country’s population living under the $3.65/day and $6.85/day international poverty lines (2017 PPP) and the countryspecific Societal Poverty Line. We also find that the poverty reduction measures incorporated by the IMF into its programs have not been effective in mitigating the poverty-increasing program effects. Overall, our findings show that IMF programs have been detrimental to the welfare of vulnerable populations in participant countries.
Topic:
Development, Economics, International Organization, and IMF
Political Geography:
Global Focus

12. Investing in a Green Future: Finance, Industrial Policy and the Green transition

Author:
Ramaa Vasudevan
Publication Date:
01-2025
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
We present a framework to assess green climate finance and the pathways to building a climate aligned financial system. This would involve the strategic reorientation of central bank interventions, national development banks and multilateral and regional banks and coherent purposive collaborations between these institutions and interventions to decisively reshape the contemporary global financial system that is out of tune with the long-term imperatives of climate action. Aligning finance to climate goals at the necessary scale, pace and direction requires the calibration of financial flows across three axes: ‘public-private’; ‘real-financial’ and ‘national-international’. Along the first axis the naturedepleting, climate imperiling logic of short-term private profitability needs to be contained in order to pursue the public priorities of climate action. Along the second axis, policy efforts have to be geared to ensuring that financial flows are financing investments in climate mitigation and adaptation and not simply providing more fodder for the global portfolio glut and financial accumulation. Finally, along the third axis warding global funding and support on appropriate terms has to be provided to the most vulnerable countries while buttressing national ownership of the green mission.
Topic:
Climate Change, Industrial Policy, Banking, and Green Transition
Political Geography:
Global Focus

13. The Distribution of Climate Finance among Annex-II Countries: A CBDR-RC Approach for Partial Funding of the Developing Countries

Author:
Shouvik Chakraborty
Publication Date:
01-2025
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
Developing nations face the significant challenge of reconciling their efforts in climate change mitigation with the urgent need for financial resources to adapt to climate-related disasters, achieve sustainable development, and stabilize their economies. The financial requirements for addressing climate impacts span various sectors, including energy transition, energy efficiency, transportation, agriculture, forestry, other land use (AFOLU), and adaptation strategies. Estimates provided by reputable international organizations, such as the International Energy Agency (IEA), the International Renewable Energy Agency (IRENA), and the Intergovernmental Panel on Climate Change (IPCC), suggest that the annual global climate finance needs may range from $4.2 trillion to $5.7 trillion. Within this framework, the share allocated to developing countries is estimated to constitute approximately $1.9 trillion to $2.0 trillion annually, mainly to support mitigation efforts. It is widely acknowledged that developing countries are unlikely to meet these financial demands independently. Consequently, it is projected that around $1 trillion must be sourced from advanced economies, particularly the AnnexII countries. This paper introduces a methodology grounded in the principles of common but differentiated responsibility and respective capability (CBDR-RC). It facilitates a structured distribution of financing responsibilities among Annex II nations. The methodology incorporates the notion of historical responsibility, quantified as carbon debt, while also measuring capability through a balanced consideration of the wealth and gross domestic product (GDP) of the AnnexII countries. The analysis conducted reveals that the United States of America (USA) is required to contribute nearly half of the total financial obligations among the AnnexII countries, with the remaining funds to be apportioned among other nations within this group.
Topic:
Development, Finance, Climate Finance, and Burden Sharing
Political Geography:
Global Focus

14. Navigating Debt Sustainability: An In-Depth Analysis of the IMF's Debt Sustainability Framework and Its Critique

Author:
Hasan Cömert, Güney Düzçay, and T. Sabri Öncü
Publication Date:
01-2025
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
This paper evaluates the IMF's debt sustainability analyses (DSAs), delving into their methodologies and implications and highlighting their problems. Since 2002, the DSAs have been the cornerstone of the IMF programs, providing the primary analytical tool to justify and determine the paths and targets specified. Although the DSAs evolved significantly over time, they have severe foundational problems. They rely heavily on strong assumptions and staff judgments, and thereby, they are primarily non-transparent. Secondly, there are significant issues regarding the conduct of DSAs. They have grown excessively complex, hindering consensus on components without necessarily improving assessment quality. Thirdly, the IMF makes very high-stakes decisions with low precision, relying on persistent over-optimism in growth forecasting and paving the way for tighter fiscal policies. Fourthly, the debt dynamics equation of DSAs is inconsistent with stock flow dynamics because it focuses heavily on the primary balance as the main driver. Fifthly, the IMF's framework does not pay enough attention to the underlying reasons for accumulating external debt in developing nations. It often treats external borrowing as a substitute for domestic debt without accounting for the asymmetric international financial architecture.
Topic:
Debt, Fiscal Policy, Sustainability, and IMF
Political Geography:
Global Focus

15. National Dialogues x Transitional Justice

Author:
Sylvia Servaes and David Bloomfield
Publication Date:
02-2025
Content Type:
Special Report
Institution:
Berghof Foundation
Abstract:
In the aftermath of conflict, National Dialogue and Transitional Justice can both contribute to reconciliation and prevent the recurrence of violence. But what is the nexus between the two? What are key shared characteristics, goals, and complementarities? In this paper, Sylvia Servaes and David Bloomfield explore the interlinkages between National Dialogues and Transitional Justice. They also discuss open questions on how both processes can be further integrated in practice to enhance their relevance and effectiveness. Over the last two decades, National Dialogues have been increasingly recognised as a comprehensive tool for preventing violent conflicts and reaching inclusive political settlements. However, questions remain on how to best integrate certain topics in the design of National Dialogues and how to meaningfully include specific societal groups. The series “National Dialogues at crossroads” aims at addressing this gap. It compiles lessons learned and recommendations on four cross-cutting issues: climate change, digitalisation, protest movements, and Transitional Justice.
Topic:
Transitional Justice, Reconciliation, Post-Conflict, and National Dialogue
Political Geography:
Global Focus

16. Introducing the Response to Sponsorship Dataset: Determinants of Responses by Target States to State Sponsors of Rebel Groups

Author:
Elif Hatun Kiliçbeylşa
Publication Date:
01-2025
Content Type:
Working Paper
Institution:
International Relations Council of Turkey (UİK-IRCT)
Abstract:
Empirical studies on the sponsorship of rebel groups have focused on understanding why and how supporter states help rebels, whether this engagement benefits the rebels, and the effects of sponsorship on the conflict outcomes. By comparison, the responses of target states to sponsorship behavior have been neglected despite the possibility of interstate crises, disputes, and conflict due to the sponsorship. This study introduces a new dataset, the Response Sponsorship Dataset (RSD), which measures target states’ responses toward state sponsors of rebel groups intending to terminate the sponsorship. The data includes information on the responses of 58 target states to 102 supporter states concerning the support of 150 rebel groups between 1991 and 2010, comprising 3719 observations. The RSD identifies diplomatic, economic, militarized, domestic, covert responses and inaction as target state responses as well as classifying them as coercive or non-coercive based on target states’ foreign policy engagements with sponsors. The RSD provides new opportunities for researchers and policymakers to analyze target responses with regards to conflict management and foreign policy as well as promising future research on support termination.
Topic:
Non State Actors, Alliance, Rivalry, Proxy Groups, and State Sponsorship
Political Geography:
Global Focus

17. Mediatised Terrorism: East-West Narratives of Risk

Author:
Seda Çolakoğlu
Publication Date:
01-2025
Content Type:
Journal Article
Journal:
Uluslararasi Iliskiler
Institution:
International Relations Council of Turkey (UİK-IRCT)
Abstract:
There is a growing body of literature in the social sciences that suggests that we live in a world surrounded by narratives that construct and interpret particular understandings of reality, that serve to make sense of the world. Following the understanding that everyone and everything has a narrative in the world we live in; it would not be wrong to say that these narratives appear in every shape and dimension. For instance, since the media also has a story to tell, we hear, watch, see and witness a wide variety of stories from the media. The media is therefore the producer and distributor of narratives. However, this emphasis has a deeper implication, namely that news stories are not simply a spiral of words describing events. This is because the media convey news to the receiving public by representing, constructing, and reconstructing it (through narratives). We frequently witness about various terrorist acts across the world via media. Saira Ali accurately examines this particular topic. Her book is for those who are concerned about how terrorism news is presented to audiences through the media and how it is made sense of in a country-specific and context-specific way. This approach also allows for a contextualisation of the construction of terrorism news narratives, within different cultural, social, and political contexts (p.5,10). The author embarks on an intellectual journey of curiosity regarding the mediatisation of terrorism in two distinct worlds. These worlds are Australia, where the risk of terrorism is quite low but it has taken drastic legal measures out of fear of global terrorism after 9/11, and Pakistan, with a more grey policy altough caught in the spiral of a complex terrorist atmospher. In this way, Ali’s intellectual effort is to interrogate the narrative that global terrorism is mostly damaging to Western civilisation by including the East in her analysis. Ali’s analysis is basically founded on an argument that “the reality of terrorism is constructed through discourse” (p. 6).
Topic:
Terrorism, Media, Book Review, and Narrative
Political Geography:
Global Focus

18. Diaspora Organisations in International Affairs

Author:
Mesut Özcan
Publication Date:
01-2025
Content Type:
Journal Article
Journal:
Uluslararasi Iliskiler
Institution:
International Relations Council of Turkey (UİK-IRCT)
Abstract:
Diasporas and their organisations, which traditionally aimed to serve their interest in the homeland and abroad, have long been studied under several social science disciplines, such as anthropology, sociology, political science, and geography. At the beginning of the 2000s, for instance, human and political geographers started to focus on diaspora realizing that it is a geographical concept, which addresses various geographical themes such as dispersion, boundaries, territory (as homeland), and identity. The “geographical turn” contributed to the concept theoretically, and also to transnationalism and migration studies empirically by which cases were reconsidered through the lens of geographical concepts, such as space, place, and time. Similar to geographers’ arguments, diaspora organisations (DO) -as a distinct form of collectivity- and their activities are very relevant to what we study in International Relations (IR), especially when it comes to exploring DOs’ role that transcends state borders in development, human rights, conflict, and peace. In that regard, attempts to introduce novel contributions from various disciplines have the potential to significantly enhance our comprehension of the theory of diaspora and its associated organizations.
Topic:
International Affairs, Diaspora, Book Review, and Organizations
Political Geography:
Global Focus

19. The Impact of Stereotyping on International Cyber Norm‑making: Navigating Misperceptions and Building Trust

Author:
Fan Yang
Publication Date:
02-2025
Content Type:
Policy Brief
Institution:
The Geneva Centre for Security Policy
Abstract:
Over the past three decades, cyberspace – a digital realm shaped by both technological and social dynamics – has evolved into a domain where a wide range of human activities now take place. These activities are marked by their anonymity, which complicates attribution, and their instantaneity, which challenges timely regulation. To address these challenges, states focus on two approaches: applying existing laws and creating new ones. While there is a general consensus that cyberspace should be governed by the rule of law, including international law, the application of existing legal frameworks to cyberspace remains an evolving challenge both in terms of state practice and academic discourse. At the same time, the international community has consistently sought to develop new norms to promote good governance in cyberspace. Against this backdrop, states – especially those with advanced cyber capabilities – are engaging in a competitive game of norm-making, striving to exert influence in shaping international rules to govern cyberspace. As part of this process, states often categorise each other by trying to highlight their counterparts’ most distinct characteristics. While such labelling is common in diplomatic interactions, it is particularly problematic in the context of international cyber norm-making. Labels reflect and reinforce stereotypes, which often oversimplify the complexities of states’ behavioural patterns in cyberspace and their underlying logic. States are thus roughly grouped by opposing indicators, such as those viewing cyberspace as a global commons versus sovereign territory, those advocating for an interconnected free Internet versus a fragmented “splinternet”, or those favouring multistakeholderism versus multilateralism as the dominant approach to the governance of cyberspace. Once established, these stereotypes are difficult to dismantle and can lead to distorted perceptions that obstruct constructive dialogue. This GCSP Policy Brief aims to identify the potential security challenges posed by stereotyping in international cyber norm-making processes. It then illustrates the policy implications of this problem and offers policy recommendations.
Topic:
Security, Cybersecurity, Norms, Cyberspace, and Trust
Political Geography:
Global Focus

20. Managing Global Biological Risks: Towards a Security-Health Coordination Framework

Author:
Jose M. L. Montesclaros, Jeselyn, and Mely Caballero-Anthony
Publication Date:
04-2025
Content Type:
Commentary and Analysis
Institution:
Centre for Non-Traditional Security Studies, S. Rajaratnam School of International Studies
Abstract:
The task of securing the world against biological risks is complicated by enforcement and information challenges. A security-health coordination framework is crucial for securing cooperation among a diverse set of actors with different but converging mandates.
Topic:
Security, Biosecurity, Crisis Management, Risk, Public Health, and COVID-19
Political Geography:
Global Focus