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211. Mapping the Economic and Financial Future

Publication Date:
07-2011
Content Type:
Working Paper
Institution:
Atlantic Council
Abstract:
In 2008 and 2009 political and business leaders scrambled to stabilize the financial system and avert a slide into world-wide depression as a financial crisis of historic proportions spread across the globe. A series of bold emergency measures succeeded in defusing the crisis, and these same leaders began searching for ways to avoid a similar breakdown in the future. At the same time, the effort to restart economic growth and job creation began in earnest.
Topic:
Economics, International Cooperation, International Trade and Finance, and Financial Crisis
Political Geography:
United States and Europe

212. Adjusting to China: A Challenge to the U.S. Manufacturing Sector

Author:
Martin Neil Baily
Publication Date:
01-2011
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
During an "exit interview" with the Wall Street Journal, departing National Economic Council Director Lawrence Summers argued that history would judge the United States based on how well we adjust to China's emergence as a great power, economically and politically. In the face of China's progress, America's manufacturing sector faces major challenges in becoming and remaining competitive and our choice of national economic policies will affect how well we meet those challenges. It is essential that the U.S. trade deficit not balloon as the economy recovers. There is scope to expand our exports in services and agriculture, but improving the competitiveness of U.S. manufacturing is vital.
Topic:
International Trade and Finance, Markets, and Bilateral Relations
Political Geography:
United States, China, and America

213. A Generalized Fact and Model of Long-Run Economic Growth: Kaldor Fact as a Special Case

Author:
Daniel Danxia Xie
Publication Date:
02-2011
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
This paper provides new evidence on the long-run relationship between economic growth and labor's share in national income, based on a comprehensive panel data set for 123 countries from 1950 to 2004. Xie's primary finding is that labor's share follows a cubic relationship with real GDP per capita over the long process of development. At the beginning of the modern economic growth process, the share of labor in national income first decreases until an initial threshold is reached. After that, labor's share keeps increasing until the country's GDP per capita reaches a second threshold before falling again. Xie argues that these dynamics apply not only to the less developed countries in the postwar years, but also to the advanced countries like the United States and the United Kingdom during their early economic take-offs, starting in the late 18th and 19th century, respectively. Finally, he proposes a two-sector constant elasticity of substitution (CES)-type growth model and simulate the model to replicate and explain the possible mechanism behind such a nonlinear pattern of movements in labor's share.
Topic:
Economics, International Trade and Finance, Labor Issues, and Monetary Policy
Political Geography:
United States and United Kingdom

214. Getting Real on Trade with Pakistan: Duty-Free Market Access as Development Policy

Author:
Kimberly Ann Elliott
Publication Date:
02-2011
Content Type:
Working Paper
Institution:
Center for Global Development
Abstract:
The combination of relatively high American barriers to trade in textiles and apparel and the importance of the sector to the Pakistani economy make increased market access a potentially powerful tool of U.S. policy. Unfortunately, recent proposals to extend duty-free market access for Pakistani exports restrict the product and geographic coverage so severely that they would be meaningless in practice. Moreover, the analysis in this paper suggests that the concerns about job loss in the U.S. textile industry from broader coverage are exaggerated. A serious trade package for Pakistan would expand the geographic coverage to allow duty-free imports from all of Pakistan, expand the product coverage for clothing, and cover all other Pakistani exports as well.
Topic:
International Trade and Finance and Markets
Political Geography:
Pakistan and United States

215. U.S. Foreign Aid: Investing in Countries that Help Themselves

Author:
Daniel Yohannes
Publication Date:
03-2011
Content Type:
Video
Institution:
Council on Foreign Relations
Abstract:
Daniel Yohannes, CEO of the Millennium Challenge Corporation, discusses the MCC's work with Isobel Coleman, Senior Fellow for U.S. Foreign Policy and Director of the Civil Society, Markets, and Democracy Initiative at the Council on Foreign Relations.
Topic:
Agriculture, International Trade and Finance, Foreign Aid, Infrastructure, and Governance
Political Geography:
United States

216. Brazil and the United States: The Need for Strategic Engagement

Author:
Luigi R. Einaudi
Publication Date:
03-2011
Content Type:
Working Paper
Abstract:
Washington's identification of Brazil with Latin America and the Third World hampers its appreciation of Brazil's power and importance to the United States. It is true that Brazil is geographically part of Latin America, and it is also true that Brazil, a founder of the Group of 77, was, with India, among the original leaders of the “Third World.” But Brazil is Brazil—as large and every bit as unique as the United States or China. Brazil, for many years the seat of the Portuguese empire, is the world's largest Portuguese-speaking country. It never had the large settled Amerindian populations that became a repressed underclass in the Andes and Mesoamerica; Brazilians today are as diverse as their North American cousins but growing faster.
Topic:
Economics, International Trade and Finance, and Bilateral Relations
Political Geography:
United States, Brazil, and Latin America

217. US-Korea Relations: Death of Kim Jong Il

Author:
Ellen Kim and Victor D. Cha
Publication Date:
09-2011
Content Type:
Journal Article
Journal:
Comparative Connections
Institution:
Center for Strategic and International Studies
Abstract:
South Korean President Lee Myung-bak's state visit to the US was a big event that attested to the strength of the two countries' relationship and the personal ties between Presidents Obama and Lee. The timely passage of the KORUS FTA in the US was the big deliverable for the summit. Final ratification of the FTA in both countries clears one longstanding issue and lays the foundation for greater economic integration and a stronger alliance. Meanwhile, the most shocking news for the final third of the year was the death of North Korean leader Kim Jong Il in late December. His death disrupted US-DPRK bilateral talks as North Korea observed a mourning period for its late leader. The US and South Korea spent the last two weeks of December quietly watching developments in North Korea as the reclusive country accelerated its succession process to swiftly transfer power to the anointed successor, Kim Jong Un.
Topic:
International Cooperation, International Trade and Finance, and International Affairs
Political Geography:
United States, South Korea, North Korea, and Korea

218. Building an Impact Economy in America

Publication Date:
12-2011
Content Type:
Working Paper
Institution:
Aspen Institute
Abstract:
Today America finds a new market force emerging: companies that achieve an intimate connection between profit and purpose. And these businesses are supported by a developing system of investors and other financial actors that seek to place capital in firms that are achieving social impact. A new trail is being blazed for our country – open, far-reaching, transformative, offering an opportunity for renewal and growth. This is the Impact Economy.
Topic:
Economics, Industrial Policy, International Trade and Finance, Markets, and Monetary Policy
Political Geography:
United States and America

219. China and Global Mega Trade Deals

Author:
John Whalley, Chunding Li, and Jing Wang
Publication Date:
07-2011
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
The term "mega deal" has been widely used in relation to two large prospective trade deals between the United States and Europe – the Transatlantic Trade and Investment Partnership (TTIP) — and in Asia and the Pacific — the Trans-Pacific Partnership (TPP). This paper starts by exploring a possible description of trade mega deals by making an inventory of mega deals in place, under discussion or negotiation, and deals yet to be considered under different criteria. This paper also calculates the trade volume coverage and trade barrier coverage for potential mega deals, and the results show the potential impact of mega deals on trade and growth performance is large.
Topic:
Development, Economics, and International Trade and Finance
Political Geography:
United States, Europe, and Asia

220. President Obama's International Tax Proposals Could Go Further

Author:
Reuven S. Avi-Yonah
Publication Date:
02-2010
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
The Obama Administration's 2011 budget proposals include revenues of $122 billion over ten years from “international tax reform.” This set of proposals is similar to but narrower than the ones advanced by the Administration in May 2009, which would have raised $210 billion.
Topic:
Economics, International Trade and Finance, and Financial Crisis
Political Geography:
United States