Number of results to display per page
Search Results
112. The Underachiever: Ukraine's Economy Since 1991
- Author:
- Pekka Sutela
- Publication Date:
- 03-2012
- Content Type:
- Working Paper
- Institution:
- Carnegie Endowment for International Peace
- Abstract:
- When Ukraine became independent in 1991, there were expectations that it would in the near future become a wealthy free market democracy and a full member of the European and Euro-Atlantic communities. The largest country geographically wholly European, and the fifth-biggest European nation by size of population, it was hoped, would become a member of the European Union (EU), the North Atlantic Treaty Organization (NATO), and the Organization for Economic Cooperation and Development (OECD).
- Topic:
- Corruption, Economics, Emerging Markets, International Trade and Finance, and Governance
- Political Geography:
- Europe, Ukraine, and Atlantic Ocean
113. Full speed ahead: The government broadband report Q1 2012
- Publication Date:
- 03-2012
- Content Type:
- Working Paper
- Abstract:
- The issue of high-speed internet access remains at the forefront of the policy agenda in both developed and emerging markets. While circumstances and concerns differ from one country to the next, the motivations for public-sector involvement remain the same. Governments are keen to bridge the digital divide between urban and rural areas by bringing basic broadband services of between 1Mbps and 5Mbps to all. Yet governments also want to facilitate greater rollout of so-called next-generation networks (NGNs) that can provide broadband speeds of between 40Mbps and 100Mbps, and sometimes higher.
- Topic:
- Development, Economics, Emerging Markets, Science and Technology, and Foreign Direct Investment
114. Credit at Times of Stress: Latin American Lessons from the Global Financial Crisis
- Author:
- Liliana Rojas-Suarez and Carlos Montoro
- Publication Date:
- 02-2012
- Content Type:
- Working Paper
- Institution:
- Center for Global Development
- Abstract:
- The financial systems in emerging market economies during the 2008–09 global financial crisis performed much better than in previous crisis episodes, albeit with significant differences across regions. For example, real credit growth in Asia and Latin America was less affected than in Central and Eastern Europe. This paper identifies the factors at both the country and the bank levels that contributed to the behavior of real credit growth in Latin America during the global financial crisis. The resilience of real credit during the crisis was highly related to policies, measures and reforms implemented in the pre-crisis period. In particular, we find that the best explanatory variables were those that gauged the economy's capacity to withstand an external financial shock. Key were balance sheet measures such as the economy's overall currency mismatches and external debt ratios (measuring either total debt or short-term debt). The quality of pre-crisis credit growth mattered as much as its rate of expansion. Credit expansions that preserved healthy balance sheet measures (the “quality” dimension) proved to be more sustainable. Variables signalling the capacity to set countercyclical monetary and fiscal policies during the crisis were also important determinants. Moreover, financial soundness characteristics of Latin American banks, such as capitalization, liquidity and bank efficiency, also played a role in explaining the dynamics of real credit during the crisis. We also found that foreign banks and banks which had expanded credit growth more before the crisis were also those that cut credit most. The methodology used in this paper includes the construction of indicators of resilience of real credit growth to adverse external shocks in a large number of emerging markets, not just in Latin America. As additional data become available, these indicators could be part of a set of analytical tools to assess how emerging market economies are preparing themselves to cope with the adverse effects of global financial turbulence on real credit growth.
- Topic:
- Debt, Economics, Emerging Markets, Globalization, and Financial Crisis
- Political Geography:
- Europe, Asia, and Latin America
115. Global Imbalances and Foreign Asset Expansion by Developing Economy Central Banks
- Author:
- Joseph E. Gagnon
- Publication Date:
- 03-2012
- Content Type:
- Working Paper
- Institution:
- Peterson Institute for International Economics
- Abstract:
- Over the past 10 years, central banks and governments throughout the developing world have accumulated foreign exchange reserves and other official assets at an unprecedented rate. This paper shows that this official asset accumulation has driven a substantial portion of the recent large global current account imbalances. These net official capital flows have become large relative to the size of the industrial economies, and they are a significant factor contributing to the weakness of the economic recovery in the major industrial economies.
- Topic:
- Development, Economics, Emerging Markets, Globalization, Markets, Monetary Policy, and Financial Crisis
116. 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
117. Transforming the Philippines’ Defense Architecture: How to Create a Credible and Sustainable Maritime Deterrent
- Author:
- Felix Chang
- Publication Date:
- 05-2012
- Content Type:
- Book
- Institution:
- Foreign Policy Research Institute
- Abstract:
- This paper argues that to adequately defend its maritime claims, the Philippines should consider an external defense architecture designed around mobile coastal defense batteries equipped with long-range anti-ship missiles and protected by an integrated air defense umbrella. Such an architecture would provide the Philippines with an effective means to not only counter surface combatants and improve the survivability of its own forces against naval aviation or ballistic missiles, but also do so with lower procurement, maintenance, and operational readiness costs than a traditional force would require. The Philippine government’s new capabilities-based defense budgeting process offers the country an opportunity to study and adopt this sort of defense architecture, which has become increasingly necessary as rising powers, such as China, have begun to test Philippine maritime sovereignty at places like Scarborough Shoal and the Spratly Islands.
- Topic:
- Defense Policy, Emerging Markets, Political Economy, Maritime Commerce, and Natural Resources
- Political Geography:
- China and Philippines
118. Global fiscal adjustment and trade rebalancing
- Author:
- YingYing Lu, Professor Warwick McKibbin, and Andrew Stoeckel
- Publication Date:
- 03-2012
- Content Type:
- Working Paper
- Institution:
- Lowy Institute for International Policy
- Abstract:
- The emergence of substantial fiscal deficits and a large build up of government debt in major advanced economies will inevitably lead to a period of fiscal consolidation in coming years. In an earlier paper, McKibbin and Stoeckel (2010) explored the effects of this fiscal adjustment in advanced economies on the global economic outlook. This paper focuses on the differences between the impacts of fiscal policy in advanced versus emerging economies. In particular, the need for more fiscal spending on infrastructure in emerging economies and the need for fiscal consolidation in advanced economies leads naturally to the question of what this asymmetric fiscal adjustment might do to global trade balances as well as global economic growth over the coming decades. The adjustment needed in both regions is substantial and the asymmetry of the adjustment implies important consequences for trade and capital flows between regions as well as asset price adjustments within and between regions.
- Topic:
- Debt, Economics, Emerging Markets, Globalization, Infrastructure, and Financial Crisis
119. 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
120. MDGs 2.0: What Goals, Targets, and Timeframe?
- Author:
- Charles Kenny, Andy Sumner, and Jonathan Karver
- Publication Date:
- 06-2012
- Content Type:
- Working Paper
- Institution:
- Center for Global Development
- Abstract:
- The Millennium Development Goals (MDGs) are widely cited as the primary yardstick against which advances in international development efforts are to be judged. At the same time, the Goals will be met or missed by 2015. It is not too early to start asking 'what next?' This paper builds on a discussion that has already begun to address potential approaches, goals and target indicators to help inform the process of developing a second generation of MDGs or 'MDGs 2.0.' The paper outlines potential goal areas based on the original Millennium Declaration, the timeframe for any MDGs 2.0 and attempts to calculate some reasonable targets associated with those goal areas.
- Topic:
- Development, Economics, Emerging Markets, Post Colonialism, and Political Theory