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1. Big Tech, Antitrust, and Breakup

Author:
Michael A. Carrier
Publication Date:
01-2020
Content Type:
Special Report
Institution:
Georgetown Journal of International Affairs
Abstract:
Big Tech is in the news. At the center of our political and economic dialogue is the effect that Amazon, Apple, Facebook, and Google have on our lives and what, if anything, governments should do about it. In this article, I explain how Big Tech has come under scrutiny, the antitrust implications of the industry’s behavior, and the potential remedy of breaking up the companies.
Topic:
Economics, Government, Science and Technology, Regulation, Internet, Social Media, and Business
Political Geography:
Global Focus and United States of America

2. Building a Sustainable Electric Vehicle Battery Supply Chain: Frequently Asked Questions

Author:
Patrick Heller, Ethan Elkind, and Ted Lamm
Publication Date:
04-2020
Content Type:
Policy Brief
Institution:
Natural Resource Governance Institute
Abstract:
The global transition from fossil fuel-powered vehicles to electric vehicles (EVs) will require the production of hundreds of millions of batteries. The need for such a massive deployment raises questions from the general public and critics alike about the sustainability of the battery supply chain, from mining impacts to vehicle carbon emissions. Growing demand for the mineral inputs for battery production can provide an opportunity for mineral-rich countries to generate fiscal revenues and other economic opportunities. But where extraction takes place in countries with weak governance, the benefits expected by citizens and leaders may not materialize; in some cases extraction might even exacerbate corruption, human rights abuses and environmental risks. Many EV proponents and suppliers are aware that supply chain governance problems pose a challenge to the evolution of the EV industry, but outstanding questions remain about how these challenges materialize. This brief, jointly published by UC Berkeley School of Law’s Center for Law, Energy & the Environment (CLEE) and the Natural Resource Governance Institute (NRGI) provides basic information on the EV battery supply chain and key battery minerals, such as cobalt and lithium, and addresses the following questions: What does the supply chain for EV batteries comprise? How do carbon emissions from EVs compare to traditional internal combustion engine (ICE) vehicles? What are the most significant challenges in managing the mineral extraction necessary for the EV supply chain, and what sustainability and human rights initiatives apply?
Topic:
Civil Society, Corruption, Government, Human Rights, Natural Resources, Governance, Regulation, Legislation, and Supply Chains
Political Geography:
Global Focus

3. Consumer Sovereignty and the Role of Government Intervention

Author:
Harold Furchtgott-Roth and Kirk R. Arner
Publication Date:
06-2020
Content Type:
Working Paper
Institution:
Hudson Institute
Abstract:
American businesses and consumers have an unequal relationship. Consumers generally are and should be sovereign because a consumer—not a seller, nor a third party, nor even the government—usually decides what to purchase. Consumers must like a business to buy its product or service. If a business has poor service, sales will suffer. And if a business is tainted by scandal, customers will flee. As courtiers of purchasing power, businesses go on bended knee to pay homage to the consumer. Typically, a business need not like a consumer to sell products or services. In most lines of business, a seller must sell to anyone willing to pay. And although there are types of businesses where a seller can legally refuse a sale, most rational sellers seek as many customers as possible.
Topic:
Economics, Government, Sovereignty, and Regulation
Political Geography:
Global Focus

4. Evolve or Perish: The Global Forces Changing the Business of Banks

Author:
Robert Fay and Angelo Arcelli
Publication Date:
04-2019
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
Following the 2008 financial crisis, the Group of Twenty embarked on an ambitious financial regulatory reform plan that has seen many banks worldwide make substantial progress in terms of both capitalization and governance. Over this period, banks have also become increasingly exposed to business risks from digitization, artificial intelligence and cybercrime, and major investments are necessary to manage these risks. New regulations have been introduced in the European Union to reduce these risks, but their associated costs have potentially created a lasting competitive disadvantage for European banks. This situation has raised some key questions that deserve to be discussed and investigated: How does regulation — including that outside the sector — affect banks’ ability to compete globally? What will be the impact of fintech players as well as globally active banks from China and other emerging markets? Can the Basel regulatory framework and Financial Stability Board (FSB) ensure a level playing field globally going forward, or has the regulatory pendulum swung too far? How will the supervisory approach need to be adapted to the changing structure of the global financial system? Moreover, how will the implementation of Basel reforms affect the industry? These and other questions remain about the effectiveness of the already-achieved reforms as well as their future direction. These issues were at the core of CIGI and Oliver Wyman’s fifth annual Financial Regulatory Outlook Conference, held in Rome on November 28, 2018. This conference report summarizes the key points of discussions at the conference, with a special focus on the 10 years of regulatory reform that was conducted under the auspices of the FSB and the new forces that are currently affecting banks and could have an impact on the future.
Topic:
Financial Crisis, Regulation, Europe Union, and digital culture
Political Geography:
Europe and Global Focus

5. Emerging Countries in Global Financial Regulatory Standard Setting: What Is to Be Done?

Author:
Andrew Walter
Publication Date:
10-2019
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
This paper explores the role of emerging-country members in the Basel process, a key aspect of the global financial standard-setting process. It argues that this process has been significantly more politically resilient than adjacent aspects of global economic governance, in part because major emerging countries obtain continuing “intra-club” benefits from participation within it. The most important of these are learning benefits, but status and sometimes influence over standard-setting outcomes can also be valuable. The paper outlines how these benefits could be enhanced to secure the ongoing resilience of global financial regulatory governance. It recommends some modest reforms to further improve the position of emerging countries in the process and to bolster its perceived legitimacy among members and non-member countries.
Topic:
Economics, International Trade and Finance, Governance, and Regulation
Political Geography:
Global Focus

6. Synthesis Report on State of Water: A Look at the Legal and Regulatory Framework Governing Water Services across Jurisdictions

Author:
Maanav Kumar and Parag Mohanty
Publication Date:
03-2019
Content Type:
Special Report
Institution:
Centre for Policy Research, India
Abstract:
This study looks at the development of legal and regulatory framework governing drinking water and sanitation services in South Africa, England and United States. Around 780 million worldwide do not have access to clean drinking water and almost 2.5 billion people lack access to improved sanitation according to data published by Centers for Disease Control and Prevention. In such a situation, it becomes extremely important to study the legal and regulatory measures used internationally to control, manage and improve these resources. This study, covering South Africa, England and USA, sets out to identify, comprehend and analyze these legal frameworks and structures; examine the control exercised by national, state/provincial as well as municipal governments over water and sanitation-related questions; and the responsive measures being taken by them to preserve the water resources and their quality for future generations. The authors have observed that in presence of varying geographical, historical and social factors, while it would be impossible to compare each model against the other on the basis of merit, it becomes increasingly important for governments to balance the individual’s right to water with the planet’s ecological balance.
Topic:
Environment, Government, Natural Resources, Water, Law, Regulation, Legislation, and Sanitation
Political Geography:
South Asia, India, Asia, and Global Focus

7. Should We Worry About Corporate Leverage?

Author:
Şebnem Kalemli-Özcan
Publication Date:
10-2019
Content Type:
Policy Brief
Institution:
Economics for Inclusive Prosperity (EfIP)
Abstract:
There has been a large increase in corporate leverage in many countries since the early 2000s. Figure 1 plots corporate debt to GDP since 2002 for different groups of countries. With the exception of the U.S., both advanced economies and emerging markets have corporate debt exceeding GDP since 2005. U.S. corporate debt is also on an increasing trend. The fastest growth in corporate debt has been observed in emerging markets. A closer look will reveal that China and other fast growing emerging countries in Asia drive most of the increase in corporate debt for the emerging markets.
Topic:
Debt, Economics, Markets, Regulation, Multinational Corporations, and Economic Policy
Political Geography:
United States and Global Focus

8. Macroeconomic Management Meets the New Economy

Author:
Commission on Global Economic Transformation
Publication Date:
05-2019
Content Type:
Working Paper
Institution:
Institute for New Economic Thinking (INET)
Abstract:
Finance and the macroeconomy, both policy and industry practices as well as academic research, have evolved substantially in recent years. While the old questions of business cycles, macroeconomic management, financial regulation, and social protection are still being debated, we are now confronted with new developments in the economy, characterized by digital technology, new modes of production and business models, and changing employment relations. Macroeconomics and finance need urgent rethinking as the global economy transforms. Our gathering on March 5, 2019 brought together economists, policymakers, financial regulators, and industry practitioners from around the world. We heard diverse perspectives on multilateralism, pension and labor market reform, international trade, and risks in the world economy, and we grappled with issues on stagnant wages, public debt, fiscal and monetary policy, and banking reforms. Our discussion was by no means exhaustive or conclusive, but we attempted to harness the group’s collective wisdom to address some of the most prominent questions of our day. This document is intended to inform our commissioners as they develop CGET’s final report and to share our timely conversation with policymakers and the general public. Fomenting multidisciplinary, critical discourse is one of the most important responsibilities of this initiative, and we sincerely thank the staff at the Institute for New Economic Thinking (INET), our dedicated Commissioners, and our outside experts for helping us to promote this dialogue.
Topic:
Economics, Industrial Policy, Regulation, Digital Economy, Economic Theory, and Macroeconomics
Political Geography:
United States and Global Focus

9. Perspectives on the Content and Implementation of the Global Compact for Safe, Orderly, and Regular Migration

Author:
Kevin Appleby
Publication Date:
09-2018
Content Type:
Working Paper
Institution:
Center for Migration Studies of New York
Abstract:
Kevin Appleby, senior director of international migration policy at CMS and SIMN, highlights issues that have been controversial in negotiations on the Global Compact on Migration in his piece, “The Global Compact on Safe, Orderly, and Regular Migration: Will It Live Up to Its Name?” The author — who has been centrally involved in the process leading to the compact — offers recommendations to resolve issues related to regularization, border enforcement and return, the rights of irregular migrants, information firewalls, and the protection of migrants in vulnerable situations.
Topic:
Migration, Immigration, Border Control, and Regulation
Political Geography:
Global Focus

10. Trade and Climate Change: Synergies and Conflicts

Author:
Ryerson Neal
Publication Date:
07-2018
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
Participants from academia and various levels of government gathered in Ottawa to discuss the often underappreciated interplay between the international climate agenda and the global trade system. The trade system has traditionally supported open flows of goods and services by disciplining tariffs, as well as trade-distorting subsidies and regulations. But there is an emerging tension between this approach and the desire of governments to address climate change through potentially trade-distorting domestic regulations and green subsidies. The challenge for policy makers is how to maintain relatively free, undistorted trade, while still giving countries sufficient policy space to implement effective measures to combat climate change.
Topic:
Climate Change, Environment, Regulation, Green Technology, and Free Trade
Political Geography:
Global Focus