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101. Which countries bid for the Olympic Games? Economic, political, and social factors and chances of winning

Author:
Wolfgang Maennig and Christopher Vierhaus
Publication Date:
04-2016
Content Type:
Working Paper
Institution:
Chair for Economic Policy, University of Hamburg
Abstract:
This contribution analyzes 132 factors on their potential to discriminate countries bidding for hosting the Olympic Games from non-bidding countries. Our binary, clustered model using generalized estimating equations (GEE) shows that countries recording long-term economic growth and pursuing a liberalization and globalization policy will consider an Olympic bid. In addition, countries with an urban population above 10 million, with stable election results and an improvement in health standards as well as more attractive tourism destinations are more likely to bid for the Olympic Games. Finally, the bid decision is shaped by experience in hosting major sports events, a country and regional rotation, persistence and climatic conditions.
Topic:
Economics, Globalization, Sports, Economic Growth, and Olympics
Political Geography:
Global Focus

102. Putting politics into international development? It’s about time

Author:
Charles Cadwell
Publication Date:
04-2016
Content Type:
Commentary and Analysis
Institution:
Urban Institute
Abstract:
It may be difficult in the current political season to welcome news that international development agencies are paying more attention to the politics of reform when designing their assistance programs to poor countries. But we should be relieved that agencies like the World Bank, the UK’s Department for International Development, and our own US Agency for International Development are doing just that. For too long, aid programs operated with the convenient fiction that assistance work was purely technical. The premise of many programs was “simply transfer missing knowledge, skills, or cash to people in the foreign government or local organizations, and they could adopt policies and programs to promote growth and reduce poverty."
Topic:
Poverty, Foreign Aid, International Development, and Economic Growth
Political Geography:
Europe, Global Focus, and United States of America

103. Dynamic Cities? The Role of Urban Local Governments in Improving Urban Service Delivery Performance in Africa and Asia

Author:
Jamie Boex, Ammar A. Malik, Devanne Brookins, and Ben Edwards
Publication Date:
07-2016
Content Type:
Research Paper
Institution:
Urban Institute
Abstract:
Cities are engines of economic growth that provide spaces for social transformation and political inclusion. Their ability to deliver widely accessible and efficiently functioning public services drives productivity and sustains development. We design and apply an assessment framework to 42 cities in 14 African and Asian countries to better understand the functional, administrative, and political dimensions determining the quality and coverage of water, sanitation, and solid waste collection services. We find that urban local governments are constrained in their authority and discretion to deliver basic public services. Reforming intergovernmental institutional structures to better match responsibilities is essential for realizing cities’ full economic potential.
Topic:
Government, Water, Governance, International Development, Economic Growth, Urban, Sanitation, Services, and Cities
Political Geography:
Africa, Asia, and Global Focus

104. Women’s Economic Empowerment: A Review of Evidence on Enablers and Barriers

Author:
H. Elizabeth Peters, Nan Marie Astone, Ammar A. Malik, Fenohasina Rakotondrazaka Maret, and Caroline Heller
Publication Date:
10-2016
Content Type:
Research Paper
Institution:
Urban Institute
Abstract:
Besides human rights protection and social welfare improvement, fostering female participation in the economy can stimulate growth with human capital accumulation and enhance the competitiveness of businesses. But women face many barriers to participating in the labor market, particularly in high productivity sectors, due to limited investments in education, time burdens from care responsibilities, legal prohibitions to land ownership, and sexual harassment and violence. We find evidence that improving access to infrastructure and public services, reforms in inheritance laws, family friendly workplace policies, and reduction in levels of violence can significantly improve women’s economic empowerment.
Topic:
Gender Issues, Labor Issues, Women, International Development, Economic Growth, and Cities
Political Geography:
Global Focus

105. Employment from Mining and Agricultural Investments: How Much Myth, How Much Reality?

Author:
Kaitlin Y. Cordes, Olle Östensson, and Perrine Toledano
Publication Date:
07-2016
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Employment creation is often seen as a key benefit of investment in natural resources. However, this benefit sometimes falls short: job estimates may be inflated, governmental policies may fail to maximize employment generation, and, in some cases, investments may lead to net livelihood losses. A more thorough examination of employment tied to mining and agricultural investments is thus useful for assessing whether and how employment from natural resource investments contributes to sustainable economic development—a particularly timely topic as countries consider how they will achieve the Sustainable Development Goals adopted in 2015.
Topic:
Agriculture, International Affairs, and Economic Growth
Political Geography:
Global Focus

106. Luigi Pasinetti and the Political Economy of Growth and Distribution

Author:
Joseph Halevi
Publication Date:
03-2016
Content Type:
Working Paper
Institution:
Institute for New Economic Thinking (INET)
Abstract:
This paper provides a careful and synthetic overview of his contributions as well as a reconstruction of Pasinetti’s philosophical approach to economics as a science meant to serve humanity. Luigi Pasinetti’s work has deeply affected modern economic theory. His papers on the Cambridge Capital Controversy are world renowned. But he has made many other contributions to the economic debates of the last half century, offering not only detailed criticisms of mainstream economic theory, but also the elaboration of an alternative, more complete, and coherent framework for understanding growth and income distribution, structural change, and trade relations. He has also made notable contributions to discussions of economic policy. Pasinetti’s papers are very clearly written, but many are formidably technical and often build cumulatively on his previous work. This paper arises from a set of notes I wrote in July 2014 for Thomas Ferguson, the Research Director of the Institute for New Economic Thinking in New York, as he prepared for a series of meetings with Professor Luigi Pasinetti in Milan. Both he and Professor Geoffrey Harcourt strongly encouraged me to expand these. In the present paper the sequence is kept as in the original notes with some important additions while the text has been changed into a more discursive style.
Topic:
Political Economy, Economic Growth, Economic Policy, and Economic Theory
Political Geography:
Global Focus

107. Carbon Emissions and Economic Growth: Production-based versus Consumption-based Evidence on Decoupling

Author:
Goher-Ur-Reham Mir and Servaas Storm
Publication Date:
03-2016
Content Type:
Working Paper
Institution:
Institute for New Economic Thinking (INET)
Abstract:
Working Paper Carbon Emissions and Economic Growth: Production-based versus Consumption-based Evidence on Decoupling MAR 2016 | ENERGY | ENVIRONMENT SHARE WORKING PAPER SERIES BY Goher-Ur-Rehman Mir Ecofys Consulting Servaas Storm Senior Lecturer of Economics, Delft University of Technology DOWNLOAD PAPER We assess the Carbon-Kuznets-Curve hypothesis using internationally consistent and comparable production-based versus consumption-based CO2 emissions data for 40 countries (and 35 industries) during 1995-2007 from the World Input Output Database (WIOD). The estimates for per capita CO2 emissions are truly comprehensive as these include all carbon emissions embodied in international trade and global commodity chains. Even if we find evidence suggesting a decoupling of production-based CO2 emissions and growth, consumption- based CO2 emissions are monotonically increasing with per capita GDP. We draw out the implications of these findings for climate policy and binding emission reduction obligations.
Topic:
Climate Change, Energy Policy, Environment, Economic Growth, and Carbon Emissions
Political Geography:
Global Focus

108. Household Borrowing and the Possibility of “Consumption- Driven, Profit-Led Growth”

Author:
Mark Setterfield and Yun K. Kim
Publication Date:
01-2016
Content Type:
Working Paper
Institution:
Institute for New Economic Thinking (INET)
Abstract:
We first show that, with a Kaleckian structure that is consistent with Pasinetti (1962), the relationship between distribution and growth is more robust than conventional wisdom suggests. Next, we extend our model by incorporating borrowing and emulation effects into workers’ consumption behavior, under different assumptions about how debt is serviced. Our results demonstrate that borrowing and emulation transform the relationship between distribution and growth, giving rise to the possibility of a “consumption-driven, profit-led” growth regime (Kapeller and Schütz, 2015) and what we call the “paradox of inequality.” A key conclusion is that the wage-or -profit led characteristics of the growth process, rather than being invariant, can be altered by social constructs such as borrowing and consumption norms that change over time.
Topic:
Economics, Economic Growth, Economic Theory, Profit, Homeownership, and Consumerism
Political Geography:
Global Focus

109. The Explosive Growth of the ABCP Market Between 2004 and 2007: A 'Search for Yield' Story

Author:
Photis Lysandrou and Mimoza Shabani
Publication Date:
01-2016
Content Type:
Working Paper
Institution:
City Political Economy Research Centre (CITYPERC), University of London
Abstract:
The years immediately preceding the financial crisis of 2007 witnessed an explosive growth in the supplies both of the long term securities issued by the shadow banking entities, the ABSs and CDOs, and of the short term securities issued by these entities, notably ABCP. While it is widely accepted that the search for yield was the major driving force behind ABS and CDO growth, the same is not true of the ABCP market where other factors such as regulatory arbitrage on the part of banks or the safety and liquidity concerns of institutional investors are seen as having been the more important growth driving force. This paper argues that the search for yield did play a crucial role in ABCP growth between 2004 and 2007. To back up this argument, the paper points to four close correlations that were peculiar to this particular three year span: (i) that between ABCP growth and the federal funds rate and the rate on ABCP; (ii) that between ABCP growth and the growth of US MMMF asset holdings; (iii) that between ABCP growth and the changes in the geographical and functional breakdown of the institutions supplying ABCP; (iv) and, finally, that between ABCP growth and the changes in the programme breakdown of the ABCP market.
Topic:
Economic Growth, Global Financial Crisis, Investment, Banking, and Asset Backed Commercial Paper
Political Geography:
Global Focus

110. Debt Servicing, Aggregate Consumption, and Growth

Author:
Mark Setterfield and Yun K. Kim
Publication Date:
11-2015
Content Type:
Working Paper
Institution:
Institute for New Economic Thinking (INET)
Abstract:
We develop a neo-Kaleckian growth model that emphasizes the importance of consumption behavior. In our model, workers first make consumption decisions based on their gross income, and then treat debt servicing commitments as a substitute for saving. Workers’ borrowing is induced by their desire to keep up with the consumption standard set by rentiers’ consumption, reflecting an aspect of the relative income hypothesis. As a result of this consumption and debt servicing behavior, consumer debt accumulation and income distribution have effects on aggregate demand, profitability, and economic growth that differ from those found in existing models. We also investigate the financial sustainability of the Golden Age and Neoliberal growth regimes within our framework. It is shown that distributional changes between the Golden Age and the Neoliberal regimes, together with corresponding changes in consumption emulation behavior via expenditure cascades, suffice to make the Neoliberal growth regime unsustainable.
Topic:
Debt, Economics, Economic Growth, Economic Theory, Profit, Sustainability, Models, and Consumption
Political Geography:
Global Focus