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111. Efficiency, Finance, and Varieties of Industrial Policy: Guiding Resources, Learning, and Technology for Sustained Growth

Author:
Akbar Norman and Joseph E. Stiglitz
Publication Date:
11-2016
Content Type:
Book
Institution:
Columbia University Press
Abstract:
Industrial policy, once relegated to resource allocation, technological improvements, and the modernization of industries, should be treated as a serious component of sustainability and developmental economics. A rich set of complimentary institutions, shared behavioral norms, and public policies have sustained economic growth from Britain's industrial revolution onwards. This volume revisits the role of industrial policy in the success of these strategies and what it can offer developed and developing economies today. Featuring essays from experts invested in the expansion of industrial policies, topics discussed include the most effective use of industrial policies in learning economies, development finance, and promoting investment in regional and global contexts. Also included are in-depth case studies of Japan and India's experience with industrial policy in the banking and private sector. One essay revisits the theoretical and conceptual foundations of industrial policy from a structural economics perspective and another describes the models, packages, and transformation cycles that constitute a variety of approaches to implementation. The collection concludes with industrial strategies for facilitating quality growth, realizing more sustainable manufacturing development, and encouraging countries to industrialize around their natural resources.
Topic:
Economics, Industrial Policy, Natural Resources, and Finance
Political Geography:
Global Focus
Publication Identifier:
9780231542777
Publication Identifier Type:
ISBN

112. Financial Reforms in Myanmar and Japan's Engagement

Author:
Tomoo Kikuch and Takehiro Masumoto
Publication Date:
11-2016
Content Type:
Working Paper
Institution:
Economic Research Institute for ASEAN and East Asia (ERIA)
Abstract:
Since 2011, under the Thein Sein government, Myanmar has started to build financial institutions almost from scratch. Japan has played a leading role in this transition, writing off debt, opening the Yangon Stock Exchange, vying for the entry of Japanese banks, and laying out finance-related laws. As in other Southeast Asian countries, Myanmar's oligopolistic economic structure and colonial past present considerable challenges. There is a rich literature on the relationship between well-functioning financial institutions and economic growth, but the causality of this relationship remains inconclusive. This paper examines the preconditions for financial institutions to be a vehicle for Myanmar's development.
Topic:
International Trade and Finance, Finance, and Financial Markets
Political Geography:
Japan and Myanmar

113. Road safety in Serbia: a priority or a neglected area?

Author:
Ana Aćimov
Publication Date:
10-2016
Content Type:
Commentary and Analysis
Institution:
Belgrade Centre for Security Policy
Abstract:
The case study applies "PRO-CURE" methodology to analyse performance of expenditures for equipping the traffic police at the local level. The author particularly questions the difference between the proclaimed strategic priorities of the Ministry of Interior and its annual procurement plans, as well as the the distribution of the burden of financing the traffic police between Ministry of Interior and local governments.
Topic:
Finance
Political Geography:
Serbia

114. The CESD Assessment on the 2017 State Budget Project

Author:
CESD Research Team
Publication Date:
11-2016
Content Type:
Working Paper
Institution:
Center for Economic and Social Development (CESD)
Abstract:
According to the legislation on the Budget system, the legislative project on the state budget of the Republic of Azerbaijan for 2017 and the state and consolidated budget projects of 2017 were publicized on 29th of September, 2016. It has been three years that the legislative projects on the consolidated and state budgets of the Republic of Azerbaijan are being prepared amidst the absence of positive economic trends for the country. Specifically, during the preparation of 2017 state budget, external and internal economic impacts were considered at greater extent. As in previous years, the Center for Economic and Social Development has prepared a comparative analysis of the budget project publicized by the government. It is to be mentioned that, during the preparation of the analysis, the conversion of indicators into the foreign (US dollars) currency is carried out according to annual average currency indicators published by the Central Bank of the Republic of Azerbaijan, whereas the conversion of 2016 indicators into US dollars is conducted in accordance with the average exchange rate of first 8 months (1 US Dollars = 1, 56 manat) and 2017 indicators in accordance with the official exchange rate dated 29th September 2016 (1 US dollars = 1.6252 manat). The comparison of the budget project with previous years plays a prominent role in the forecasting of socio-economic trends for next year and the determination of state fiscal policy and the short-term and strategic position of the government in separate directions.
Topic:
Budget and Finance
Political Geography:
Azerbaijan

115. Currency market in Azerbaijan: Challenging environment for the national currency

Author:
Rashad Hasanov
Publication Date:
09-2016
Content Type:
Research Paper
Institution:
Center for Economic and Social Development (CESD)
Abstract:
In August, the exchange rate of national currency of Azerbaijan-“Manat” beat all historical records. That is to say, the exchange rate was 1 USD= 1.61 Manat in previous month . It should be noted that, the exchange rate hit 1 USD= 1.6 Manat in March, 2016. Since the second half of 2014, due to the fall of oil prices in the world markets there is a visible pressure on the national currency ‘Manat’. Overall, the Azerbaijani “Manat” lost 49.6% of its value in 2015 and in addition, a depreciation of more than 3% in the first 8 months of 2016, the losses could reach 52.2%. Although the occurring rapid dollarization and the observed stagnation in the business environment especially in imports in the first months of 2015 and 2016 resulted in short-term reduction in foreign exchange demand in the March-May period of this year and strengthening the exchange rate of USD/Manat at the level of 1.49, the process of depreciation proceeded again afterwards.
Topic:
Economics, International Political Economy, and Finance
Political Geography:
Azerbaijan

116. Currency market in Azerbaijan: Why the national currency is losing its value?

Author:
CESD Research Team
Publication Date:
08-2016
Content Type:
Working Paper
Institution:
Center for Economic and Social Development (CESD)
Abstract:
It has already been three month since the national currency of the Republic of Azerbaijan continuously loses its value. Since the second half of 2014, due to the fall in oil prices on the world markets, the resulting pressure on the national currency – ‘Manat’ is ongoing nowadays. Overall, Manat lost 49.6% of its value in 2015 and in addition, with more 3% depreciation in the first 7 months of 2016, the losses could reach 52.6%. Although the occurring rapid dollarization and the observed stagnation in the business environment especially in imports in the first months of 2015 and 2016 resulted in short-term reduction in foreign exchange demand in March-May period of this year and strengthening the exchange rate of USD/AZN at the level of 1.49, the process of depreciation proceeded again afterwards. As a result, the national currency increased its annual losses to the level of 3% in June-July, by depreciating 7% against the US dollar again.
Topic:
Finance
Political Geography:
Azerbaijan

117. Why Azerbaijan needs a Strategic Reform of its foreign policy towards the European Union?

Author:
Cristina Juan Carrion
Publication Date:
04-2016
Content Type:
Research Paper
Institution:
Center for Economic and Social Development (CESD)
Abstract:
During the course of 2015 Azerbaijan suffered the impact of two devaluations of the national currency, Azerbaijani Manat (AZN), due to the decrease of the world oil prices. Given that oil and natural gas accounts for more than 90% of Azerbaijani exports, continued low world oil prices had a critical negative impact on the Azerbaijani economy. The current situation has led Azerbaijan to establish new priorities that could help restructure the financial system at this critical moment. The drastic change in the economic outlook of the country has created the need to open a wider window to the European Union (EU) in order to overcome the current economic downturn.
Topic:
Finance and Financial Markets
Political Geography:
Azerbaijan

118. Finance for Climate Resilience in the Dawn of the Paris Era

Author:
Shiva Polefka and Gwynne Taraska
Publication Date:
01-2016
Content Type:
Working Paper
Institution:
Center for American Progress - CAP
Abstract:
In December 2015, world leaders convened in Paris to adopt a historic agreement to limit carbon pollution and adapt to the effects of climate change. The promise of the agreement lies in the fact that it establishes a framework to drive progress, requiring successive national goals to reduce greenhouse gas emissions and prescribing ongoing national submissions on climate resilience. It defines a new era of multilateral climate action. Successive national goals, however, are insufficient for the success of the agreement, even if they are increasingly ambitious. Success requires implementation, and implementation requires investment. A fundamental shift in finance flows will be necessary to achieve climate resilience and carbon neutrality on a global scale. Finance for adaptation to climate change is a particular concern, as it historically has trailed finance for emissions reductions by a large margin. Whereas the private sector provides the majority of global renewable energy investment, there is comparatively limited evidence of private investment in resilience efforts, which partly explains the imbalance. In Paris, nations showed an unprecedented recognition of the adaptation challenge. Despite their sometimes marked differences, countries coalesced around a common set of values—that adaptation and adaptation finance should be elevated; that the needs of the most vulnerable regions and populations should be prioritized; and that nonstate actors should be engaged to the greatest extent possible in the global climate effort. These values are reflected not only in the agreement itself, but also in a wave of commitments from both governments and the private sector. There are therefore grounds for guarded optimism that the Paris era could come to represent a collective pivot toward more adequate levels of resilience finance for the developing countries that are most vulnerable to the effects of climate change. This brief examines the gap in adaptation finance that must be bridged in order to fulfill the values of the Paris agreement, with a focus on regions such as Southeast Asia that are at particular risk from the effects of climate change. It also discusses new adaptation finance commitments from governments and the private sector; the landscape of existing adaptation finance channels and initiatives onto which these commitments build; and the undiminished role of developed countries—such as the United States, Japan, EU countries, and others—to facilitate an increase in adaptation finance as the Paris era begins.
Topic:
Climate Change, Environment, Finance, and Paris Agreement
Political Geography:
Global Focus

119. Poland in the European Union.Ten Years of Membership

Author:
Katarzyna Kolodziejczyk
Publication Date:
01-2016
Content Type:
Journal Article
Journal:
Revista UNISCI/UNISCI Journal
Institution:
Unidad de investigación sobre seguridad y cooperación (UNISCI)
Abstract:
Twelve years have passed since the Polish entry into the European Union. For Poland the date of 1 May 2004 is the culmination of a transformation process launched at the end of the Cold War in 1989. One of the priorities of Polish foreign policy, the expansion of the political, economic and cultural relations with Western Europe and the United States has been met. This approach has been described as ‘the return to Europe’. Membership in the European Union changed the Polish economy and the new politics opened up new opportunities for businesses and citizens. The aim of the article is to analyze the balance of the Polish membership in the European Union in the economic, financial, political and social dimensions.
Topic:
European Union, Partnerships, Finance, Economy, Exports, and Imports
Political Geography:
Europe and Poland

120. Game-Changers in the Paris Climate Deal: What is needed to ensure a new agreement helps those on the front lines of climate change

Author:
Tracy Carty
Publication Date:
11-2015
Content Type:
Working Paper
Abstract:
There is likely to be a climate deal in Paris. The emission pledges that more than 150 governments have put on the table this year show that global climate ambition is increasing. But much more is needed, as it’s a deal that could still lead to around 3°C of warming. New Oxfam-commissioned research estimates that compared with 2°C, developing countries could be faced with an additional $600bn per year in economic losses by 2050, and see their adaptation finance needs raised by almost $300bn per year by the same date. But there is still scope for a stronger deal. In this media briefing Oxfam looks at potential game-changers on finance and mitigation ambition that could avert these costs for the world’s poorest people. These are the issues that will determine whether the Paris deal reflects the power of the biggest fossil fuel emitters and elites, or is a turning point which starts to address the needs of the poorest and most vulnerable.
Topic:
Climate Change, Energy Policy, Politics, Reform, Inequality, and Finance
Political Geography:
Global Focus