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21. Transactions: A New Look at Services Sector Foreign Direct Investment in Asia

Author:
Jacob Funk Kirkegaard
Publication Date:
10-2012
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
In this paper Kirkegaard presents new micro-level data consisting of individual greenfield investment projects and mergers and acquisitions as a source for detailed analysis of services sector cross-border investment flows among the Asian Development Bank (ADB) regional membership in Asia. The new transactional foreign direct investment (FDI) data are methodologically distinct from traditional BPM5-compliant FDI data but found to yield generally comparable aggregates, when compared with the latest available International Monetary Fund (IMF) data from the Comprehensive Direct Investment Survey for the ADB regional membership. The services sectors are found to receive considerably larger amounts of foreign investment, when compared with the Asian region's manufacturing and raw materials sectors. OECD countries account for roughly three-quarters of total recorded inward services sector FDI of about $2 trillion, relatively evenly split between the United States, the EU-27, and regional OECD-level-income countries. The presence of sizable regional "upward flowing" services sector investments into OECD-level-income economies is verified. Kirkegaard draws preliminary policy conclusions based on the new transactional FDI data results concerning prospects for regional services sector liberalization, threshold income levels for inward services sector FDI, upward-flowing regional services FDI, and preferred modes of services sector investments.
Topic:
Economics, Emerging Markets, International Trade and Finance, and Foreign Direct Investment
Political Geography:
United States, Israel, and Asia

22. A China – US bilateral investment treaty: A template for a multilateral framework for investment?

Author:
Karl P. Sauvant and Huiping Chen
Publication Date:
12-2012
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
China is the largest foreign direct investment (FDI) host and home country among emerging markets, the United States among developed countries. As host countries, both seek to maintain policy space to pursue their own legitimate public policy objectives; as home countries, both seek to protect their investors' outward FDI. The development of their bilateral investment treaties (BITs) over the past decade reflects this: Chinese BITs have become more protective of investors, US ones more respectful of host country interests. If agreement is reached between both, it would provide a template for future investment agreements.
Topic:
Economics, Emerging Markets, Treaties and Agreements, and Foreign Direct Investment
Political Geography:
United States and China

23. Revising COIN: The Stakeholder Centric Approach

Author:
Karsten Friis, Erik Reichborn-Kjennerud, and Harald Håvoll
Publication Date:
11-2012
Content Type:
Working Paper
Institution:
Norwegian Institute of International Affairs
Abstract:
With the apparent lack of progress and success in Afghanistan, counter- insurgency (COIN), both as a theory and practice, is falling out of favor within the political and military establishment in the US. This comes at a time when the US is redirecting its geopolitical focus away from global instability towards the Asia-Pacific and the 'New Great Power Game'.
Topic:
Foreign Policy, Development, Emerging Markets, Terrorism, and Counterinsurgency
Political Geography:
Afghanistan, United States, and Australia/Pacific

24. Private-Sector Engagement in Food Security and Agricultural Development

Author:
Johanna Nesseth Tuttle
Publication Date:
03-2012
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies
Abstract:
With the introduction of Feed the Future (FTF)—the U.S. government's program to refocus foreign assistance on agricultural development—the private sector has been named a priority partner. President Barack Obama made a bold statement in his 2009 inaugural address, pledging that the United States would work with countries to support and promote food security. Private companies are enthusiastic about engaging in development efforts, and FTF may provide that avenue. The food and agriculture sector has significant capabilities, and market opportunities in developing countries are large and growing. Many companies have engaged in discussions with FTF leadership, and a number of partnerships have been launched. These are important efforts, and more are under way. The fact remains, however, that funding for agricultural development is relatively small—a three-year, $3.5 billion budget, compared to a six-year, $63 billion budget for health—and the investments needed in agriculture are massive: it would take $88.7 billion to meet U.S. global agricultural development goals.
Topic:
Agriculture, Development, Emerging Markets, Foreign Aid, Food, and Foreign Direct Investment
Political Geography:
United States

25. State-controlled entities control nearly US$ 2 trillion in foreign assets

Author:
Karl P. Sauvant and Jonathan Strauss
Publication Date:
04-2012
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Developing country sovereign wealth funds (SWFs) as players in the world foreign direct investment (FDI) market have received considerable attention. While outward FDI from emerging markets has indeed risen dramatically, that by SWFs has been negligible: their outward FDI stock is around US$ 100 billion (compared to a world FDI stock of US$ 20 trillion in 2010).
Topic:
Development, Economics, Emerging Markets, Government, International Law, and Foreign Direct Investment
Political Geography:
United States

26. Entrepreneurship in Postconflict Zones

Author:
Gayle Tzemach Lemmon
Publication Date:
05-2012
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
Economic development is a critical component of promoting stability and U.S. security interests, particularly in conflict and postconflict zones. Reviving institutions and rebuilding an economic base are among the first priorities after fighting ends and reconstruction begins. According to the U.S. Agency for International Development (USAID), negative economic shocks of just 5 percent can increase the risk of a civil war by as much as 50 percent in fragile environments. Additionally, donor assistance, which can account for 20 percent to as much as 97 percent of a country's GDP, is unsustainable in the long term. Building local business capacity and supporting homegrown entrepreneurs can help curb this risk. Research from Iraq has found that labor-generating reconstruction programs can reduce violence during insurgencies, with a 10 percent increase in labor-related spending associated with a 10 percent decrease in violence. And as Shari Berenbach, director of the Office of Microenterprise Development at USAID, argues, the development of “private enterprise is an important stabilizing force,” particularly for countries suffering from the political uncertainty and civil unrest that often characterizes the postconflict period.
Topic:
Security, Development, Economics, Emerging Markets, Foreign Aid, and Foreign Direct Investment
Political Geography:
United States

27. Assertive Brazil: An emerging power and its implications

Author:
Mikael Wigell
Publication Date:
05-2011
Content Type:
Policy Brief
Institution:
Finnish Institute of International Affairs
Abstract:
Brazil has risen to international prominence over the last decade. Now the 7th largest economy in the world, the country has started acting with greater confidence and authority on the international stage.
Topic:
Foreign Policy, Emerging Markets, and Regional Cooperation
Political Geography:
United States and Brazil

28. The G20: Engine of Asian Regionalism?

Author:
Hugo Dobson
Publication Date:
11-2011
Content Type:
Working Paper
Institution:
German Institute of Global and Area Studies
Abstract:
As a result of the emergence of the G20 as the self‐appointed “premier forum for international economic cooperation”, Asia's expanded participation in G‐summitry has attracted considerable attention. As original G7 member Japan is joined by Australia, China, Indonesia, India and South Korea, this has given rise to another alphanumeric configuration of the Asian 6 (A6). Resulting expectations are that membership in the G20 will impact Asian regionalism as the A6 are forced into coordination and cooperation in response to the G20's agenda and commitments. However, by highlighting the concrete behaviours and motivations of the individual A6 in the G20 summits so far, this paper stands in contrast to the majority of the predominantly normative extant literature. It highlights divergent agendas amongst the A6 as regards the future of the G20 and discusses the high degree of competition over their identities and roles therein. This divergence and competition can be seen across a range of other behaviours including responding to the norm of internationalism in promoting global governance and maintaining the status quo and national interest, in addition to claiming a regional leadership role and managing bilateral relationships with the US.
Topic:
Economics, Emerging Markets, Globalization, International Trade and Finance, Regional Cooperation, and Governance
Political Geography:
United States, Japan, China, Indonesia, India, Asia, South Korea, and Australia

29. The Future of Convergence

Author:
Dani Rodrik
Publication Date:
10-2011
Content Type:
Working Paper
Institution:
Weatherhead Center for International Affairs, Harvard University
Abstract:
Novelists have a better track record than economists at foretelling the future. Consider then Gary Shteyngart's timely comic novel “Super Sad True Love Story” (Random House, 2010), which provides a rather graphic vision of what lies in store for the world economy. The novel takes place in the near future and is set against the backdrop of a United States that lies in economic and political ruin. The country's bankrupt economy is ruled with a firm hand by the IMF from its new Parthenon-shaped headquarters in Singapore. China and sovereign wealth funds have parceled America's most desirable real estate among themselves. Poor people are designated as LNWI (“low net worth individual s”) and are being pushed into ghettoes. Even skilled Americans are desperate to acquire residency status in foreign lands. (A degree in econometrics helps a lot, as it turns out). Ivy League colleges have adopted the names of their Asian partners and yuan-backed dollars are the only safe currency.
Topic:
Debt, Economics, Emerging Markets, Sovereign Wealth Funds, and Financial Crisis
Political Geography:
United States, China, America, and Singapore

30. Multilateralism in Trade at Risk: Should and Can we Rescue the Doha Round?

Author:
Jagdish Bhagwati, Pascal Lamy, Michael Moore, and Leif Pagrotsky
Publication Date:
12-2011
Content Type:
Video
Institution:
Columbia University World Leaders Forum
Abstract:
This World Leaders Forum program will feature an introduction by: - Pascal Lamy, Director-General of the World Trade Organization Followed by a panel discussion with: - Jagdish Bhagwati, University Professor of Economics Law, Columbia University; Economic Policy Adviser to Director General of GATT (1991-1993) - Michael Moore, Former Director General of World Trade Organization and Prime Minister of New Zealand; Ambassador of New Zealand to the United States - Leif Pagrotsky, Swedish Minister for Trade(1997-2004); currently member of the Swedish Parliament and of the Executive Board of the Social Democratic Party.
Topic:
Economics, Emerging Markets, International Trade and Finance, International Affairs, and Financial Crisis
Political Geography:
United States and New Zealand