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91. BRICSAM and the Non-WTO

Author:
Agata Antkiewicz and John Whalley
Publication Date:
10-2005
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
We discuss recent regional trade and economic partnership agreements involving the large population, rapidly growing economies (BRICSAM: Brazil, Russia, China, India, South Africa, ASEAN, and Mexico). Perhaps 50 out of 300 agreements that exist worldwide involve BRICSAM countries; most are recently concluded and will be implemented over the next few years. Along with extensive bilateral investment treaties, mutual recognition agreements, and other country to country (or region) arrangements they are part of what we term the non-WTO. This paper aims to document and characterize the agreements and analyze their possible impacts. Agreements differ in specificity, coverage and content. In some treaties there are detailed and specific commitments, but these also co-exist with seemingly vague commitments and (at times) opaque dispute settlement and enforcement mechanisms. Whether these represent a partial replacement of the World Trade Organization (WTO) process for newly negotiated reciprocity based on global trade liberalization or largely represent diplomatic protocol alongside significant WTO disciplines is the subject of this paper.
Topic:
Development, Economics, and International Trade and Finance
Political Geography:
Russia, China, India, Asia, South Africa, Brazil, and Mexico

92. Prospects for Regional Free Trade in Asia

Author:
Gary Clyde Hufbauer and Yee Wong
Publication Date:
10-2005
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
Frustrated with lackluster momentum in the WTO Doha Round and the Asia Pacific Economic Cooperation (APEC) forum, and mindful of free trade agreement (FTA) networks centered on the United States and Europe, Asian countries have joined the FTA game. By 2005, Asian countries (excluding China) had ratified 14 bilateral and regional FTAs and had negotiated but not implemented another seven. Asian nations are also actively negotiating some 23 bilateral and regional FTAs, many with non-Asian partners, including Australia, Canada, Chile, the European Union, India, and Qatar. China has been particularly active since 2000. It has completed three bilateral FTAs—Thailand in 2003 and Hong Kong and Macao in 2004—and is initiating another 17 bilateral and regional FTAs. However, a regional Asian economic bloc led by China seems distant, even though China accounts for about 30 percent of regional GDP. As in Europe and the Western Hemisphere, many Asian countries are pursuing FTAs with countries outside the region. On present evidence, the FTA process embraced with some enthusiasm in Asia, Europe, and the Western Hemisphere more closely resembles fingers reaching idiosycratically around the globe rather than politico-economic blocs centered respectively on Beijing, Brussels, and Washington.
Topic:
Economics, International Trade and Finance, and Regional Cooperation
Political Geography:
United States, China, Europe, Washington, Canada, India, Beijing, Asia, Australia, Qatar, Chile, Hong Kong, Brussels, and Macao

93. The Next Wave of Globalization? Exploring the Relocation of Service Provision to India

Author:
Rafiq Dossani and Martin Kenney
Publication Date:
09-2004
Content Type:
Working Paper
Institution:
Berkeley Roundtable on the International Economy
Abstract:
The rapid increase in the ability and desire of multinational corporations to offshore services or, what are commonly termed “business processes” to developing nations is becoming a significant international development issue. This paper utilizes a case study of India, the largest recipient of offshored services, to explain the dynamics of offshoring from the perspective of the firm and the recipient nation. The explosion of offshoring is placed within a historical context. The technologies enabling offshoring and the corporate environment are discussed. Finally, the organizational forms involved in offshoring are discussed. The conclusion considers the implications of the offshoring of services for developed and developing nations and possible policy initiatives for developing nations interested in the possibility of entering the ITES sector.
Topic:
Development, Globalization, International Trade and Finance, and Science and Technology
Political Geography:
South Asia and India

94. Thirteen Years of Power Sector Reform in India: Are We Still Groping in the Dark?

Author:
Kandula Subramaniam
Publication Date:
05-2004
Content Type:
Working Paper
Institution:
Center for the Advanced Study of India
Abstract:
In 1991, before the New Power Policy was announced opening the Indian power supply industry to private investment, the country was experiencing power shortages. Sanghvi (1991) estimated that in countries like India, electricity shortages led to a loss of 1.5 to 2 percent of gross domestic product (GDP). Ten years later, India still experiences shortages of power in the form of load-shedding. Even grid breakdowns have become a regular feature. In 2001 alone, there were two major grid collapses, bringing several Indian states to a grinding halt for more than one day.
Topic:
Economics, International Trade and Finance, and Science and Technology
Political Geography:
South Asia and India

95. The Transition from Official Aid to Private Capital Flows: Implications for a Developing Country

Author:
Renu Kohli
Publication Date:
07-2004
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
India's capital account displays a sharp swing in external financing from official assistance to private capital transfers in the 1990s. This paper examines the implications of this transition for the country. An analysis of the private resource transfer reveals that unlike official flows, private capital flows are associated with real exchange rate appreciation, expansion in domestic money supply and stock market growth, liquidity and volatility. The paper concludes with a discussion on the implications of the transition for economic policy.
Topic:
Economics, International Trade and Finance, and Political Economy
Political Geography:
South Asia and India

96. Impact of Trade Liberalization on Returns from Land: A Regional Study of Indian Agriculture

Author:
Ghosh Nilabja
Publication Date:
06-2003
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
Trade liberalization, by aligning domestic prices with world prices, is envisaged to bring welfare gains to a country. In the case of Indian agriculture, owing to the vastness and diversity of the sector, the impact is likely to be profoundly unequal across regions especially when liberalization is double-edged, acting on both output and input sides. This paper views returns from land resource as a primary determinant of farmers' economic well-being and production incentive and considers paddy both as the dominant support for the rural population and as a product with comparative advantage, as most studies have demonstrated. Working with state and sub-state level data and taking account of the differences in technologies, productivities and transport costs, the paper finds that the gains vary regionally and may not be positive in all cases when both output and input prices are globally aligned.
Topic:
Development, Economics, and International Trade and Finance
Political Geography:
South Asia and India

97. Asian Oil Market Outlook: Role of the Key Players

Author:
Jeffrey Brown and Kang Wu
Publication Date:
10-2003
Content Type:
Policy Brief
Institution:
East-West Center
Abstract:
The Asia Pacific region's dynamic oil market is marked by strong growth in consumption, declining regional oil production, and over capacity in its highly competitive oil-refining sector. Its "key players" are China, India, Indonesia, Japan, and South Korea—a group that includes the region's five top consumers and three of its major producers—and developments in these countries will have commercial and strategic implications for the whole region. On the consumption side, Japan's slow growth in demand has failed to dampen regional growth, which is now driven by China and India's fast growing thirst for oil. On the supply side, Indonesia's inevitable transition to a net oil importer highlights the trend toward growing dependence on Middle East oil, which already comprises 42–90 percent of imports among the key players. In response to this trend, China, Japan, and South Korea are pushing to acquire overseas oil reserves, with Japan and China already locked in a fierce competition for projected Russian supplies—a type of struggle that will likely become more commonplace.
Topic:
Economics and International Trade and Finance
Political Geography:
Japan, China, Indonesia, Middle East, India, Asia, and South Korea

98. Chinese and Indian Engineers and their Networks in Silicon Valley

Author:
Rafiq Dossani
Publication Date:
03-2002
Content Type:
Working Paper
Institution:
Walter H. Shorenstein Asia-Pacific Research Center
Abstract:
In recent years, Asian immigrants have played an important role in Silicon Valley's growth, as suppliers of both engineering and entrepreneurial talent. Given their relatively large numbers, the Indian and Chinese communities' contributions have been particularly noted. The Indians' presence became more marked toward the last few years of the century, bolstered by arrivals working on the Year 2000 (Y2K) problem. The Chinese, by contrast, had older roots set down amid long-standing political, economic, and educational links with Taiwan. Both communities have formed extensive ethnic professional networks, with large memberships and well-attended, regular "networking" events, such as monthly meetings and special interest group sessions. The popularity of these events suggests that members find them valuable. While some of the value is probably noneconomic, the avowedly economic mission (see below) and long-term popularity of these gatherings means that most members primarily derive economic benefits. These networks and their members are the subject of this paper. The author acknowledges the collaboration of Professor AnnaLee Saxenian of the University of California, Berkeley, in the design of and data collection for the survey which forms part of this paper. The survey was partially funded by the Public Policy Institute of California.
Topic:
International Trade and Finance and Science and Technology
Political Geography:
United States, India, Taiwan, Asia, California, and Berkeley

99. Creating an Environment: Developing Venture Capital in India

Author:
Rafiq Dossani and Martin Kenney
Publication Date:
04-2001
Content Type:
Working Paper
Institution:
Berkeley Roundtable on the International Economy
Abstract:
In the last decade, one of the most admired institutions among industrialists and economic policy makers around the world has been the U. S. venture capital industry. A recent OECD (2000) report identified venture capital as a critical component for the success of entrepreneurial high-technology firms and recommended that all nations consider strategies for encouraging the availability of venture capital. With such admiration and encouragement from prestigious international organizations has come various attempts to create an indigenous venture capital industry. This article examines the efforts to create a venture capital industry in India.
Topic:
International Political Economy, International Trade and Finance, and Science and Technology
Political Geography:
United States and India

100. Indian Industry: Growing Pains

Publication Date:
12-1998
Content Type:
Policy Brief
Institution:
Center for Strategic and International Studies
Abstract:
The provided an overview of the Indian economy. This issue will focus on three key sectors: industry, the financial sector, and agriculture. The three sectors, while seemingly unrelated, are key to India's future. Indian industry is undergoing unprecedented change as a result of the deregulation process begun in 1991, the recent downturn in the domestic economy, and the crisis in Asia. Established industries are being challenged and new ones are emerging.
Topic:
Industrial Policy and International Trade and Finance
Political Geography:
South Asia, India, and Asia