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Begin New Search Topic Global Recession Publication Year within 10 Years

11. Global Debt Dynamics: What Has Gone Wrong

Author:
Andreas Antoniades and Stephany Griffith-Jones
Publication Date:
01-2018
Content Type:
Working Paper
Institution:
Centre for Global Political Economy, University of Sussex
Abstract:
This paper analyses the nature and characteristics of global debt dynamics in the post global financial crisis (GFC) period. First, we attempt to map the ways in which debt has been moving from sector to sector, and from one group of countries to another within the global economy. By capturing this inter-sectorial, inter-national, inter-regional movements of global debt we aspire to contribute to a more comprehensive understanding of global debt and its mode of operation. Second, we attempt to analyse what is wrong with global debt dynamics, i.e. we examine the broken link between what global debt was supposed to do and what it does. Here, we point to three interrelated dynamics: the accumulation of unproductive debt, growing inequalities of income and wealth, and the increase in privately-created, interest-bearing money.
Topic:
Debt, Economics, Global Recession, Financial Crisis, and Global Political Economy
Political Geography:
United States, Global Focus, and Global Markets

12. The Resurgence of Petro-Conflict in Post-Amnesty Niger Delta, Nigeria: Rethinking Conflict Trajectories and Reforms

Author:
Elias Courson
Publication Date:
12-2017
Content Type:
Working Paper
Institution:
Social Science Research Council
Abstract:
Since the late 1990s, the oil-endowed Niger Delta region has become an almost ungovernable space. From 1999, there has been a turn to militancy, which escalated with the emergence of the Movement for 1 the Emancipation of the Niger Delta (MEND) in 2005/6. Although the government was initially slow to react to the unfolding trajectory of violent conflict in the region, there was a period of relative peace in the wake of the 2009 amnesty deal, which was somewhat disrupted in February 2016 by the emergence of a new militant group, the Niger Delta Avengers (NDA).2 Apart from the NDA, a plethora of little-known militant groups emerged in the Niger Delta between February and November 2016. Their attacks brought the oil industry and by extension, the nation’s economy to a state of near collapse. The government lost about $7 billion (N2.1 trillion) due to the activities of insurgent groups and oil pipeline vandals in the Niger Delta. Some estimates suggest that these disturbances brought down oil production from 2.3 million barrels per day (bpd), to barely 1 million bpd. The NDA’s strategic return to the oil creeks to mount sting operations on Nigeria’s petro-economy when global oil prices had fallen drastically (from a peak of $115 per barrel in mid-2014 to less than $40 per barrel in early 2016), exacerbated the country’s financial woes and contributed towards the national economic recession.
Topic:
Energy Policy, Oil, Global Recession, and Militias
Political Geography:
Africa and Nigeria

13. Europe Today and What's Next

Author:
Hannes Androsch
Publication Date:
12-2016
Content Type:
Working Paper
Institution:
Liechtenstein Institute on Self-Determination, Princeton University
Abstract:
In many places it is forgotten that Europe, especially the EU, is a veritable success story, as this continent has never before experienced a period such as the past seven decades of democracy, peace and prosperity. Faced with the current challenges, especially the refugee crisis, there has been an increasing tendency among European governments to take unilateral action. This approach cannot be successful, however, as European governments attempt to implement policy prescriptions of the past to solve problems of the present. In fact, we need not less but more Europe—but also a reformed Europe: a European Union with one voice for external policy (common foreign, security and defense policy and asylum and migration policy) and the capacity to overcome its internal turmoil (common economic, budget, and tax policies, and a minimum of a transfer union). We also need a European Union that makes the benefits of globalization available to all people. The European Union is currently experiencing one of its worst crises in its history. Old fault lines that have run through the continent for centuries, once considered overcome, have become prominent once again; new challenges have arisen, especially in the wake of globalization, climate change and new technological developments (the Digital Revolution). The world has seemingly become ungovernable. The proclaimed 1989 “end of history” (Fukuyama) is certainly over, and history has a firm grip on Europe. This, at least since the outbreak of the financial and economic crisis in 2007/08, no longer deniable fact is reflected in the still unresolved crisis in Greece (“Grexit”), the associated Euro Crisis, the British referendum on exit from the EU (“Brexit”), and in the renaissance of geopolitics. The annexation of Crimea by Russia undertaken in violation of international law, the war in eastern Ukraine, as well as state disintegration in Libya, Yemen, Iraq and Syria have made it clear that, from the Caucasus to the Balkans and from Pakistan/Afghanistan via the Middle East to North Africa, extends a “Ring of Fire,”—a term used by former Prime Minister of Singapore Lee Kuan Yew to describe the geopolitical challenges of Europe more than twenty years ago. These long concealed —or ignored—distortions are now breaking out again in the form of “wars of succession,” leaving behind territories plagued by unrest, civil wars, and failed states, and resulting in terrorism and refugee waves now reaching the center of Europe. The resulting “crisis mode,” within which the European Union has been operating for several years now, reached its climax with the result of the referendum conducted in June, determining Britain’s exit from the European Union (Brexit). Aside from the medium and long-term economic implications for the country, Brexit was an earthquake with unforeseeable consequences especially on the political level. Scotland is once again discussing its potential separation from the United Kingdom, the fragile peace funded by the EU in Northern Ireland is threatened by collapse, and in a considerable number of other EU countries—mainly France and the Netherlands—populist and nationalist parties are interpreting Brexit as a signal to seek their salvation in national initiatives.
Topic:
Security, Global Recession, European Union, Refugee Crisis, Brexit, and Humanitarian Crisis
Political Geography:
Russia, China, United Kingdom, Europe, Turkey, Middle East, Asia, and Syria

14. Degrowth: Consume less. Share more.

Author:
Rajni Bakshi
Publication Date:
07-2016
Content Type:
Research Paper
Institution:
Gateway House: Indian Council on Global Relations
Abstract:
Indian business—perhaps even society at large—is currently buoyed by the expectation that we are entering a period of sustained economic growth that might finally make poverty a problem of the past. In this context, it might seem counter-intuitive to draw attention to the possibility of a decelerating global economy and projections about reversals in human well-being. However, there is mounting evidence to show that the prevailing models of economic growth cannot continue unchecked to the end of the 21st century. Apart from the truism that infinite growth is not possible on a finite planet, the accelerating impacts of climate change are set to play havoc with a reliable supply of many natural resources—including food. Unless growth is redefined, degrowth will be forced upon the global economy, as a consequence of chaotic instability in eco-systems and due to the brittleness of political, social, and economic systems
Topic:
Global Recession, Reconstruction, Reform, and Global Political Economy
Political Geography:
India and Global Focus

15. Facing Up to the Democratic Recession

Author:
Larry Diamond
Publication Date:
01-2015
Content Type:
Journal Article
Journal:
Journal of Democracy
Institution:
National Endowment for Democracy
Abstract:
Democracy has been in a global recession for most of the last decade. Yet the picture is not entirely bleak. We have not seen “a third reverse wave.” The key imperative in the near term is to work to reform and consolidate the democracies that have emerged during the third wave—the majority of which remain illiberal and unstable, if they remain democratic at all. It is vital that democrats in the established democracies not lose faith. Democrats have the better set of ideas. Democracy may be receding somewhat in practice, but it is still globally ascendant in peoples’ values and aspirations.
Topic:
Global Recession, Democracy, and Political stability
Political Geography:
Global Focus