Number of results to display per page
Search Results
282. Making Basel III Work for Emerging Markets and Developing Economies
- Author:
- Thorsten Beck and Liliana Rojas-Suarez
- Publication Date:
- 04-2019
- Content Type:
- Working Paper
- Institution:
- Center for Global Development
- Abstract:
- A sound financial regulatory framework is critical for minimizing the risk imposed by financial system fragility. In the world’s emerging markets and developing economies (EMDEs), such regulation is also essential to support economic development and poverty reduction. Meanwhile, it is increasingly recognized that global financial stability is a global public good: recent decades have seen the development of new international financial regulatory standards, to serve as benchmarks for gauging regulation across countries, facilitate cooperation among financial supervisors from different countries, and create a level playing field for financial institutions wherever they operate. For the worldwide banking industry, the international regulatory standards promulgated by the Basel Committee on Banking Supervision (BCBS) stand out for their wide-ranging scope and detail. Even though the latest Basel recommendations, adopted in late 2017 and known as Basel III, are, like their predecessors, calibrated primarily for advanced countries, many EMDEs are in the process of adopting and adapting them, and many others are considering it. They do so because they see it as in their long-term interest, but at the same time the new standards pose for them new risks and challenges. This report assesses the implications of Basel III for EMDEs and provides recommendations for both international and local policymakers to make Basel III work for these economies.
- Topic:
- Development, Economics, Emerging Markets, and Markets
- Political Geography:
- Global Focus
283. Strengthening the Economic Arsenal: Bolstering the Deterrent and Signaling Effects of Sanctions
- Author:
- Elizabeth Rosenberg and Jordan Tama
- Publication Date:
- 12-2019
- Content Type:
- Special Report
- Institution:
- Center for a New American Security
- Abstract:
- Economic sanctions have become the tool of choice for U.S. policymakers to influence international affairs. On issues ranging from nuclear nonproliferation to human rights, the United States typically imposes sanctions with the goal of inducing a government to change its behavior. Yet sanctions often have more potential to deter unwanted actions than to compel policy reversals, and the greatest impact of sanctions sometimes involves the signals they convey about likely future U.S. steps. Maximizing the overall effectiveness of U.S. economic pressure therefore requires concerted efforts by policymakers in the executive branch and Congress to make sanctions more effective instruments of deterrence and signaling. Doing this will also have positive knock-on effects, helping to limit the unintentional escalation of international competition and preserve the utility of sanctions as a vehicle for addressing security challenges and protecting universal norms. This report highlights several areas for action by U.S. policymakers: Make U.S. sanctions-removal assurances more credible: U.S. offers to lift sanctions on a country if it makes certain concessions send an effective signal only if the United States has a track record of backing up its commitments. In recent years, this signal has been severely weakened by U.S. failures to follow through on some significant sanctions-removal agreements, notably with Iran and Cuba.
- Topic:
- Economics, National Security, and Sanctions
- Political Geography:
- Iran, Global Focus, and United States of America
284. Grading China's Belt and Road
- Author:
- Daniel Kliman, Rush Doshi, Kristine Lee, and Zack Cooper
- Publication Date:
- 04-2019
- Content Type:
- Special Report
- Institution:
- Center for a New American Security
- Abstract:
- Since its launch in 2013, what China calls “One Belt, One Road” has emerged as the corner-stone of Beijing’s economic statecraft. Under the umbrella of the Belt and Road, Beijing seeks to promote a more connected world brought together by a web of Chinese-funded physical and digital infrastructure. The infrastructure needs in Asia and beyond are significant, but the Belt and Road is more than just an economic initiative; it is a central tool for advancing China’s geo-political ambitions. Through the economic activities bundled under the Belt and Road, Beijing is pursuing a vision of the 21st century defined by great power spheres of influence, state-directed economic interactions, and creeping authoritarianism. As Beijing prepares to host the second Belt and Road Forum in late April 2019, countries that once welcomed Chinese investment have become increasingly vocal about the downsides. This report is intended to serve as a resource for governments, corporations, journalists, and civil society groups now re-evaluating the costs and benefits of Belt and Road projects. Building on previous research by the Center for a New American Security and other institutions,2 this report provides a high-level overview of the primary challenges associated with China’s Belt and Road. It explores these challenges in the context of 10 cases that have received little high-profile attention and identifies future concerns generated by the Belt and Road’s growing digital focus. Lastly, the report puts forward a checklist for evaluating future infrastructure projects involving China.
- Topic:
- Development, Economics, Infrastructure, Authoritarianism, Geopolitics, and Belt and Road Initiative (BRI)
- Political Geography:
- China and Asia
285. Economic Dominance, Financial Technology, and the Future of U.S. Economic Coercion
- Author:
- Peter Harrell and Elizabeth Rosenberg
- Publication Date:
- 04-2019
- Content Type:
- Special Report
- Institution:
- Center for a New American Security
- Abstract:
- Coercive economic measures, such as sanctions, investment restrictions, trade controls, and tariffs, have become an increasingly important tool of U.S. foreign policy in recent years. Recent years have witnessed a strengthening of U.S. coercive economic measures, which are likely to remain powerful in the near and medium term. Over the longer term, purely commercial factors are likely to support continued U.S. coercive economic power. However, choices by both U.S. policymakers and foreign governments will be the primary determinant of whether coercive economic measures remain powerful tools of U.S. foreign policy over the longer term. Shifts in the nature of U.S. coercive economic power could prompt some shifts in the balance and nature of the type of coercive economic measures the United States deploys.
- Topic:
- Foreign Policy, Economics, Science and Technology, Tariffs, and Trade
- Political Geography:
- North America and United States of America
286. People’s Republic of the United Nations: China’s Emerging Revisionism in International Organizations
- Author:
- Kristine Lee and Alexander Sullivan
- Publication Date:
- 05-2019
- Content Type:
- Special Report
- Institution:
- Center for a New American Security
- Abstract:
- China is increasingly using its economic, political, and institutional power to change the global governance system from within. The Chinese Communist Party (CCP) under President Xi Jinping has become more proactive in injecting its ideological concepts into international statements of consensus and harnessing the programmatic dimensions of global governance to advance its own foreign policy strategies, such as “One Belt, One Road.”1 These efforts demand the attention of the United States, its allies and partners, and civil society. If unchecked, they will hasten the export of some of the most harmful aspects of China’s political system, including corruption, mass surveillance, and the repression of individual and collective rights. This report examines China’s approach to seven organs and functions of the United Nations (U.N.): the Department of Economic and Social Affairs, the Human Rights Council, Peacekeeping Operations, Accreditation for Non-Governmental Organizations, the International Telecommunication Union, UNESCO, and the Office of Drugs and Crime.
- Topic:
- Economics, International Organization, Politics, United Nations, and Governance
- Political Geography:
- China and Asia
287. Automation and a Changing Economy: The Case for Action
- Author:
- Alastair Fitzpayne, Conor Mckay, and Ethan Pollack
- Publication Date:
- 04-2019
- Content Type:
- Working Paper
- Institution:
- Aspen Institute
- Abstract:
- Technology fuels our economy, captures our collective imaginations, and promises extraordinary possibilities. It permeates almost all aspects of our lives. From electrification and the internal combustion engine, to search engines and smartphones, technology has changed how we travel, access information, buy products, and communicate with each other. As technology changes our personal lives, it also changes work. For generations, economic change has replaced products, jobs, and industries with innovative new models. The American economy has transitioned from agrarian to industrial, service to digital, and with each evolution, America has prospered even as it grappled with the profound challenges of change. The American ideal embraces the promise that economic progress can create an inclusive society in which prosperity is broadly shared. Work is more than simply a way to earn a living. It gives structure, dignity, and purpose to our lives. For this reason, workers should not be treated as a cost of doing business but recognized for their productivity and creativity. For too many Americans, the promise of work is not being kept. New technologies are creating great wealth for some, but we are simultaneously experiencing historic income and wealth inequality. Without robust policies and strong institutions, new innovations risk exacerbating the economic insecurity and political and civil divides that we are experiencing today. Emerging technologies, including artificial intelligence, machine learning, and advanced robotics, have the potential to automate many tasks currently performed by workers. Historically, automation has been an important ingredient driving economic growth and progress. Automation has enabled us to feed a growing population while allowing workers to transition from subsistence farming to new forms of work. Automation helped move us from a craft system to mass production, from blue-collar to white-collar to “new-collar” work—with better work, higher wages, more jobs, and better living standards. Similar to past innovations, these new technologies offer the potential to help us meet human needs while supporting new jobs and industries never before imagined. However, automation can also have negative effects on individuals and communities. Those who lose their jobs suffer economic, social, and psychological hardship. Communities that relied on single industries that have been automated have struggled to recover. New jobs are being created, but their geographic distribution and skill requirements often make them inaccessible to the individuals and the communities where those whose jobs were lost. This dislocation has played a role in exacerbating America’s economic, political, geographic, and social divides. The answer to the dislocations that can result from automation should not be to stifle innovation. Policies and reforms should encourage both the development of new technologies and the promise of work. Workers need access to the opportunities technology creates. Policymakers and employers can help by providing access to skills training, ensuring the availability of good jobs, and improving the systems that are in place to help those who will transition from declining to growing occupations. While there are many unanswered questions about what the future holds, this report attempts to explain how automation impacts the labor market and how to better prepare American workers to benefit from the changes to come.
- Topic:
- Economics, Science and Technology, Labor Issues, Automation, and Job Creation
- Political Geography:
- Global Focus
288. The economic impact of Boris Johnson’s Brexit proposals
- Author:
- Anand Menon
- Publication Date:
- 10-2019
- Content Type:
- Working Paper
- Institution:
- UK in a Changing Europe, King's College London
- Abstract:
- The Prime Minister has set out a means of escaping the Brexit stalemate, but his new Brexit proposals have, as yet, not managed to overcome the impasse. What, though, would the plan mean for the UK economy? That is the question we seek to answer in what follows. As ever, we have been lucky enough to be able to draw on the skills and expertise of some of the leading experts in the field. The bulk of the work was done by Hanwei Huang, Jonathan Portes and Thomas Sampson, with contributions from Matt Bevington and Jill Rutter. Hanwei and Thomas used the LSE’s Centre for Economic Performance trade model to carry out the modelling. We hope you find the report interesting and informative. Brexit is clearly about more than economics, but the economic impact of leaving the EU nevertheless merits careful scrutiny.
- Topic:
- Economics, Politics, European Union, Brexit, and Boris Johnson
- Political Geography:
- United Kingdom and Europe
289. Donald J. Trump y las Relaciones Cuba-Estados Unidos en la Encrucijada
- Author:
- Soraya M. Castro-Mariño, Margaret Crahan, Martin Carnoy, William M. LeoGrande, Margaret Crahan, Carlos Ciaño Zanetti, James A. Nathan, Dalia González Delgado, Jorge I. Domínguez, Manuel R. Gómez, Sunamis Fabelo Concepción, Max Paul Friedman, Raul Rodríguez Rodríguez, Víctor López Villafañe, Ruvislei González Saez, Carlos M. Gutiérrez, Robert Muse, José Gabilondo, Michael P. Hatley, William A. Messina Jr., Rafael Betancourt, Ramón Pichs Madruga, Robert L. Bach, Marta Núñez Sarmiento, and Geoff Thale
- Publication Date:
- 01-2018
- Content Type:
- Book
- Institution:
- Institute for Latin American and Iberian Studies at Columbia University
- Abstract:
- El propósito central de esta obra radica en evaluar el deterioro que ha tenido lugar en las relaciones Cuba-Estados Unidos durante el primer periodo de mandato del presidente Donald J. Trump. El texto es resultado de la XVI Serie de Conversaciones Cuba-Estados Unidos de América, celebrada en diciembre de 2017 y patrocinada por el Centro de Investigaciones de Política Internacional adscrito al Instituto Superior de Relaciones Internacionales “Raúl Roa García” de La Habana (CIPI-ISRI). Desde diferentes ángulos se analizan el entorno internacional y el regional, así como los acontecimientos que están teniendo lugar en Cuba y en Estados Unidos, lo cual brinda múltiples explicaciones a procesos en pleno desarrollo. Sin embargo, estos contextos reflejan signos contradictorios que expresan una circunstancia histórica concreta, donde nacionalismos y populismos de extrema derecha han capitalizado el momento político internacional. En esa dirección es lógico prestarle atención a Estados Unidos y a la presidencia de Donald J. Trump, la cual más que causa es síntoma de la crisis que vive el país y refleja inmensas transformaciones y grandes desalientos basados, entre disímiles causas, en una insondable inequidad socio-económica y política. La respuesta es la agenda conocida como “America First”, que adolece de una mirada estratégica a mediano y a largo plazo, y pone en duda el papel de ese país en el Orden Mundial en el siglo XXI. El libro está destinado a audiencias interesadas en entender estas profundas problemáticas, sus causas y, particularmente, las negativas consecuencias que han tenido en el incipiente proceso hacia la normalización de relaciones con la República de Cuba, iniciado en diciembre de 2014. Al mismo tiempo, intenta explicar esta coyuntura como un paréntesis pues, más tarde que temprano, se deberá regresar a la lógica de la cooperación y la colaboración entredos países que, más allá de sus diferencias, comparten historia y un mismo entorno geográfico.
- Topic:
- Security, Economics, Migration, Bilateral Relations, Elections, Investment, and Donald Trump
- Political Geography:
- China, Cuba, Latin America, Caribbean, North America, and United States of America
290. PeSCo – Anything There for European Defence?
- Author:
- Sandro Knezović
- Publication Date:
- 02-2018
- Content Type:
- Working Paper
- Institution:
- Institute for Development and International Relations (IRMO)
- Abstract:
- The European strategic landscape has changed dramatically over the course of the last decade. The post-Cold War mantra about the obsolescence of conventional threats in the wider European space proved to be short-sighted with developments at its eastern �lanks, while security dysfunctions in the MENA region and their immanent consequences for the safety of European citizens have loaded a heavy burden on compromise-building and decision-making in the �ield of the Common Security and Defence Policy (CSDP) of the EU. Furthermore, the approach of the new US administration to European security and the strategic consequences of Brexit have changed the wider framework in which security of 'the Old Continent' is to be determined, hence stimulating European leaders to rethink European security in a strive for strategic autonomy of their own. The very ambitiously phrased EU Global Strategy that came out in June 2016, served as both catalyst and umbrella document for such an endeavour. However, in order to achieve measurable progress in responding to contemporary security challenges, it was clear that the EU needs to develop a structural way for member states to do jointly what they were not capable of doing at the national level. This is so especially in the environment in which China, Russia and Saudi Arabia are championing the defence spending, right after the US, while European states are signi�icantly trailing behind. The fact that the EU collectively is the second largest military investor and yet far from being among the dominant military powers only emphasises the burning issue of ef�iciency of military spending and the level of interoperability among member states’ armies. High-level fragmentation of the European defence market and the fact that defence industries are kept in national clusters is clearly contributing to that. The reality on the ground is obviously challenging traditional methods of co-operation that operate mainly in ‘national boxes’ and calling for a paradigm change in the wider policy context of CSDP. However, it remains to be seen to which extent will this new security environment actually be able to push the European defence policy context over the strict national boundaries.
- Topic:
- Security, Economics, Military Strategy, and European Union
- Political Geography:
- United States, China, Europe, Middle East, Asia, and Saudi Arabia