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901. Living with Hugo: U.S. Policy Toward Hugo Chávez's Venezuela

Author:
Richard Lapper
Publication Date:
11-2006
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
The popularity of the new political and economic model being developed in Venezuela has been a consistent source of aggravation for the U.S. government. Since first winning the presidency in December 1998, Hugo Chávez has been able through repeated electoral victories and radical constitutional reform to dominate Venezuela's government and public institutions. Undaunted by stiff U.S. opposition, President Chávez has launched what he calls a Bolivarian revolution, named after Simón Bolívar, a nineteenth-century leader of Latin America's independence wars. Chávez has reasserted the role of the state in the Venezuelan economy and developed extensive social programs to advance an anti- U.S., anti-capitalist crusade. New or newly reinvigorated alliances with established U.S. adversaries have helped internationalize Chávez's aims. Most alarming to those concerned with the health of Venezuelan democracy, Chávez and his allies have concentrated political power in the hands of the executive, curtailed the independence of the judiciary, shown limited tolerance for domestic critics, and openly intervened in the electoral politics of neighboring states.
Topic:
Conflict Prevention, Foreign Policy, Development, Economics, and Politics
Political Geography:
United States, South America, and Latin America

902. Reforming U.S. Patent Policy: Getting the Incentives Right

Author:
Keith E. Mascus
Publication Date:
11-2006
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
America's robust economic competitiveness is du e in no small part to a large capacity for innovation. That capacity is imperiled, however, by an increasingly overprotective patent system. Over the past twenty-five years, American legislators and judges have operated on the principle that stronger patent protection engenders more innovation. This principle is misguided. Although intellectual property rights (IPR) play an important role in innovation, the recent increase in patent protection has not spurred innovation so much as it has impeded the development and use of new technologies.
Topic:
Development, Economics, and Markets
Political Geography:
United States, China, and America

903. Corporate Governance in Canada and the United States: A Comparative View

Author:
Edward J. Waitzer and Jay W. Lorsch
Publication Date:
04-2006
Content Type:
Working Paper
Institution:
The Wilson Center
Abstract:
Drawing on expertise from both sides of the Canada-U.S. border, the One Issue,Two Voices series is designed to stimulate dialogue on policy issues that have a significant impact on the bilateral relationship. This fifth issue in the series provides an up-to-date snapshot of how corporate governance practices differ between Canada and the United States. Authors Jay Lorsch of the Harvard Business School and Edward Waitzer of the Canadian law firm Stikeman Elliott are leading experts on corporate governance.Together they give us a comparison of the way our countries have responded to changes mandated by the Sarbanes-Oxley Act (SOX) passed by the U.S. government in 2002.
Topic:
Civil Society, Economics, and Politics
Political Geography:
United States, Canada, and North America

904. Strategic Partnership or Strategic Competition

Author:
Bonnie Glaser and James Nolt
Publication Date:
12-2006
Content Type:
Policy Brief
Institution:
Foreign Policy In Focus
Abstract:
As part of our China Focus, we asked two leading scholars to reflect on the tensions and possibilities in U.S.-China relations. Bonnie Glaser is a senior associate at the Center for Strategic and International Studies. James Nolt is a senior fellow at the World Policy Institute. We asked them first about the potential for a strategic security partnership between the United States and China, then about their economic relationship.
Topic:
Security, Economics, and International Cooperation
Political Geography:
United States, China, and Asia

905. Oil Trip

Author:
Emira Woods
Publication Date:
10-2006
Content Type:
Policy Brief
Institution:
Foreign Policy In Focus
Abstract:
It is almost impossible to imagine, as we sit in a well-lit, fully functioning gas station on Main Street, USA, that a community blessed with oil riches under its soil could look as impoverished as Yenagoa in the Nigerian state of Bayelsa.
Topic:
International Relations, Economics, Energy Policy, and Politics
Political Geography:
United States

906. QDR 2006: Do the forces match the mission? DOD gives little reason to believe

Author:
Carl Conetta
Publication Date:
02-2006
Content Type:
Working Paper
Institution:
Project on Defense Alternatives
Abstract:
As originally conceived the Quadrennial Defense Review was meant to help ensure the internal consistency of mid-and longer-term US defense planning. By “internal consistency” I here mean a concordance of strategy, assets, and budgets. As critics often put it in the past: the point is to show how the force fits the strategy and the budget fits the force. The exercise is supposed to “connect” our military strategy with our force development plans and, in turn, connect these with current and future budgets. In this regard, the 2006 QDR is long on assertion and short on quantification – “short” as in utterly lacking.
Topic:
Defense Policy, Economics, and War
Political Geography:
United States

907. The Economic Impact of Tourism and the I Love New York Campaign

Publication Date:
11-2006
Content Type:
Working Paper
Institution:
Oxford Economics
Abstract:
Tourism directly gen e rates 4.5% of the state's employment base. With the inclusion of indirect and induced impacts, tourism is the catalyst for 707,266 jobs, or 6.7% of all non-farm employment.
Topic:
Economics
Political Geography:
United States and New York

908. Remittances: Latin America's Faulty Lifeline

Author:
Catherine Elton
Publication Date:
03-2006
Content Type:
Policy Brief
Institution:
MIT Center for International Studies
Abstract:
In recent years, the money that migrants send back to their native countries has become a hot topic in international development circles. Multilateral banks, the governments of migrant-sending nations, the U.S. Government, and international development organizations laud the potential that remittances have to reduce poverty and promote development. Remittances are being exalted as “the new development finance,” and a ticket to “high human development,” while the migrants who send them are hailed as heroes back home. But the current remittance euphoria is both overblown and troubling when considered in a larger context of international development.
Topic:
International Relations, Economics, and International Trade and Finance
Political Geography:
United States and South America

909. Globalization, Private Security, and Democratic Processes: Implications for the Democratic Peace?

Author:
Deborah Avant
Publication Date:
11-2006
Content Type:
Working Paper
Institution:
Centre for International Peace and Security Studies
Abstract:
During the 1990s and into this century, a robust market for force emerged alongside and intertwined with state military forces. The rise of stateless forces associated with globalization is often seen as breaking down barriers between states and enhancing the prospects for peace, particularly among advanced democracies. Stateless forces, in particular marketbased security, may also, however, alter the functioning of democracies. A widely held, albeit often implicit, assumption of much theory and research in international relations, especially in the literature on the democratic peace, is that states rely on their own military organizations rather than hired guns to project force. The question addressed here is whether the attributes that have been identified as promoting trust among democracies remain strong when states rely on private forces instead of, or in addition to, public ones. If greater reliance on the market to satisfy security needs affects the transparency, constitutionalism and public consent of their foreign policy processes, the market for force could have implications for trust among democracies – and at the extreme, perhaps even for the democratic peace. Overall, we conclude that the use of private security by the US threatens to weaken key institutional mechanisms taken to enhance trust between it and other democracies.
Topic:
Democratization, Economics, Globalization, and Markets
Political Geography:
United States

910. Real-Time Price Discovery in Global Stock, Bond and Foreign Exchange Markets

Author:
Torben G. Andersen, Tim Bollerslev, Francis X. Diebold, and Clara Vega
Publication Date:
09-2006
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
Using a unique high-frequency futures dataset, we characterize the response of U.S., German and British stock, bond and foreign exchange markets to real-time U.S. macroeconomic news. We find that news produces conditional mean jumps; hence high-frequency stock, bond and exchange rate dynamics are linked to fundamentals. Equity markets, moreover, react differently to news depending on the stage of the business cycle, which explains the low correlation between stock and bond returns when averaged over the cycle. Hence our results qualify earlier work suggesting that bond markets react most strongly to macroeconomic news; in particular, when conditioning on the state of the economy, the equity and foreign exchange markets appear equally responsive. Finally, we also document important contemporaneous links across all markets and countries, even after controlling for the effects of macroeconomic news.
Topic:
Economics, Foreign Exchange, International Trade and Finance, and Markets
Political Geography:
United States