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351. Dawning of a New Era: The LNG Story

Author:
Henry Lee
Publication Date:
04-2005
Content Type:
Working Paper
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
Spurred on by higher natural gas prices and a growing demand for cleaner fuels, interest in new liquefied natural gas (LNG) facilities has mushroomed. At the end of 2004, over forty new receiving and regasification stations were being proposed in the United States, and another ten were seeking siting approvals in Mexico and Canada. Even if less than ten percent of these projects are approved and built, more than twenty percent of United States gas demand may be supplied by LNG facilities by 2012. On the production side, the number of countries contemplating the construction of liquefaction facilities has doubled, and existing producers are scurrying to build more and larger facilities.
Topic:
Development, Economics, Emerging Markets, and Energy Policy
Political Geography:
United States, Canada, and Mexico

352. Expanding Coal Use While Protecting the Climate

Author:
John P. Holdren
Publication Date:
03-2005
Content Type:
Working Paper
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
This country needs to expand coal use for electricity generation and for reducing dependence on oil and natural gas in other applications. But it also needs to take serious steps to reduce the risks from climate change. Reconciling these two objectives requires a three-pronged approach, as recommended in the recent report of the bipartisan National Commission on Energy Policy that I had the privilege of co-chairing: The first prong is to provide a market signal that begins to slow the growth of carbon emissions, but at a pace that doesn't force premature retirement of existing coal-fired generating capacity. The Commission's proposal for a carbon-emission permit system that starts in 2010, phases in gradually, and controls the permit costs with an initial "safety valve" price of $7 per ton of CO2 is designed to achieve this. The second prong is speeding up the commercialization of integrated gasification-combined-cycle multipurpose coal plants, which can produce liquid and gaseous fuels as well as electricity, which sharply reduce emissions of criteria air pollutants, and which offer the potential for affordable retrofit to capture CO2. The Commission proposes $400 million per year in federal early-deployment incentives over the next decade, in order to bring into operation 10 gigawatts of carbon-capture-capable IGCC plants. The third prong is accelerating the development and commercial-scale demonstration of the carbon capture and sequestration technologies needed to realize the potential of IGCC plants to drastically and affordably reduce their CO2 emissions. For this purpose the Commission has proposed $300 million per year in federal support over the next decade.
Topic:
Development, Energy Policy, and Government
Political Geography:
United States

353. Deficits, Interest Rates, and the User Cost of Capital: A Reconsideration of the Effects of Tax Policy on Investment

Author:
William G. Gale and Peter R. Orszag
Publication Date:
07-2005
Content Type:
Working Paper
Institution:
The Brookings Institution
Abstract:
Under traditional formulations, lower capital income tax rates reduce the user cost of capital and stimulate investment. The traditional approach, however, implictly or explicitly considers a revenue-neutral reduction in capital income taxation. We extend the traditional approach by considering a reduction in taxes that generates an increase in the budget deficit; the expanded budget deficit raises interest rates and the opportunity cost of investment. This provides a mechanism through which tax cuts can raise the cost of capital. Representative calculations show that, even with relatively modest interest rate effects, the net effect of making the Administration's recent tax cuts permanent or a 10-percent reduction in individual income tax rates would be to raise the user cost of capital. Thus, sustained tax cuts can raise the cost of capital and reduce investment.
Topic:
Development, Economics, and Government
Political Geography:
United States

354. The Millennium Challenge Account: Moving Toward Smarter Aid

Author:
Lex Rieffel and James W. Fox
Publication Date:
07-2005
Content Type:
Working Paper
Institution:
The Brookings Institution
Abstract:
The Millennium Challenge Account (MCA) proposed by President George W. Bush in March 2002 is an important step toward smarter US assistance to low-income countries. While it cannot yet be said to represent a revolution in development assistance, it is a welcome experiment and merits substantial funding by the Congress.
Topic:
International Relations, Development, Economics, and Human Welfare
Political Geography:
United States

355. No Child Left Behind: How to give It a Passing Grade

Author:
Martin R. West
Publication Date:
12-2005
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
The No Child Left Behind Act (NCLB) has the potential to improve many of America's schools, but this potential is currently undermined by serious flaws in how the program evaluates school performance. Because NCLB's measurement system compares only students' performance at a single point in time against state-determined standards, the information generated on school performance is often misleading and creates perverse incentives for states to lower their expectations.
Topic:
Development, Education, and Politics
Political Geography:
United States

356. Why Federalism Matters

Author:
Pietro S. Nivola
Publication Date:
10-2005
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
What do we want from federalism?” asked the late Martin Diamond in a famous essay written thirty years ago. His answer was that federalism—a political system permitting a large measure of regional selfrule—presumably gives the rulers and the ruled a “school of their citizenship,” “a preserver of their liberties,” and “a vehicle for flexible response to their problems.” These features, broadly construed, are said to reduce conflict between diverse communities, even as a federated polity affords inter-jurisdictional competition that encourages innovations and constrains the overall growth of government.
Topic:
Development, Government, and Politics
Political Geography:
United States

357. Cambodia Blazes A New Path To Economic Growth and Job Creation

Author:
Sandra Polaski
Publication Date:
09-2005
Content Type:
Working Paper
Institution:
Carnegie Endowment for International Peace
Abstract:
A UNIQUE AND SUCCESSFUL INTERNATIONAL POLICY EXPERIMENT has been under way in Cambodia for the last six years. In the country's export apparel factories, working conditions and labor rights are monitored by inspectors from the International Labor Organization (ILO), an international public organization. The results of the inspections are published in credible, highly transparent reports that describe in detail whether the factories are in compliance with national labor laws and internationally agreed basic labor rights. These reports are published on the Internet, and a range of Cambodian and international actors use them. The U.S. government uses the reports as a key input for decisions under an innovative scheme that allows Cambodian firms to sell more apparel in the U.S. market if they improve working conditions and respect workers' rights. Private retail apparel firms that buy from Cambodian factories also use the reports. These buyers, conscious of their brand reputations, use the reliable information they find in the reports to steer orders toward compliant factories and away from noncompliant ones.
Topic:
Foreign Policy, Development, Economics, and Government
Political Geography:
United States, Cambodia, and Southeast Asia

358. Judicial Reform in China: Lessons from Shanghai

Author:
Veron Mei-Ying Hung
Publication Date:
04-2005
Content Type:
Working Paper
Institution:
Carnegie Endowment for International Peace
Abstract:
The George W. Bush administration in September 2002 laid out in the “National Security Strategy of the United States” its strategy toward China: “We welcome the emergence of a strong, peaceful, and prosperous China.” During a trip to Asia in March 2005, Secretary of State Condoleezza Rice adopted a similar phrase to welcome “the rise of a confident, peaceful, and prosperous China.”
Topic:
International Relations, Development, and Government
Political Geography:
United States, China, Shanghai, and Asia

359. Evaluating Middle East Reform: How Do We Know When It Is Significant?

Author:
Marina S. Ottaway
Publication Date:
02-2005
Content Type:
Working Paper
Institution:
Carnegie Endowment for International Peace
Abstract:
This short paper launches the second set of studies in the Carnegie Papers Middle East Series. The first set, now also published as a book under the title Uncharted Journey: Promoting Democracy in the Middle East, examined the most important issues concerning democracy promotion and democratic change in the Middle East. One of the conclusions that emerged from those studies is that the Middle East still offers a rather discouraging political picture. There are some liberalized autocracies but no democratic countries in the region. The link between economic and political reform remains weak. Democratic reformers have failed to build strong constituencies, and the organizations with strong constituencies are Islamist rather than democratic. The integration of Islamists in the reform process remains poor. And the United States, now championing democracy in the region, has little credibility in Arab eyes, and still has not consistently integrated democracy promotion in its policy toward the area. Yet, despite all these problems, it is becoming increasingly clear that there is a ferment of reform in the Middle East. But how significant is it?
Topic:
Development, Peace Studies, and Politics
Political Geography:
United States, Middle East, and Arabia

360. Vladimir Putin and Russia's Oil Policy

Author:
Martha Brill Olcott
Publication Date:
02-2005
Content Type:
Working Paper
Institution:
Carnegie Endowment for International Peace
Abstract:
The honeymoon between the Western oil industry and Russian President Vladimir Putin ended in mid-2003 when the Russian procurator's office began arresting Yukos executives. The Kremlin's seemingly sudden attack on private industry surprised the international business community that was expecting investment-friendly behavior from the Russian leadership. After assuming power in late 1999, Putin quickly signaled interest in developing a strong energy partnership with the United States, including increased opportunities for Western firms to invest in Russia's oil and gas industry.
Topic:
Development, Energy Policy, and Industrial Policy
Political Geography:
Russia, United States, Europe, and Asia