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211. Income Distribution: Effects on Growth and Development

Author:
Nancy Birdsall
Publication Date:
04-2007
Content Type:
Working Paper
Institution:
Center for Global Development
Abstract:
I review the literature on the effects of inequality on growth and development in the developing world. Two stylized facts emerge from empirical studies: inequality is more likely to harm growth in countries at low levels of income (below about $3200 per capita in 2000 dollars); and it is at high levels of inequality (at or above a Gini coefficien t of .45) that a negative association emerges. Between 15 and 40 percent of the developing world's population lives in countries with these characteristics, depending on the inclusion of China, whose level of inequality has recently been measured at almost .45. Theory and evidence suggest that high inequality affects growth: (1) through interaction with incomplete and underdeveloped markets for capital and information; (2) by discouraging the evolution of the economic and political institutions associated with accountable government (which in turn enable a market environment conducive to investment and growth); and (3) by undermining the civic and social life that sustains effective collective decision-making.
Topic:
Civil Society, Economics, Emerging Markets, and Markets
Political Geography:
China

212. Aiding Transparency: What We Can Learn About China Exim Bank's Concessional Loans

Author:
Paul Hubbard
Publication Date:
09-2007
Content Type:
Working Paper
Institution:
Center for Global Development
Abstract:
The Chinese government, through the China Exim Bank, is pledging billions of dollars worth of concessional lending to the developing world. More information on these lending practices can be gleaned from Chinese language sources than is readily available in English. However, this material is insufficient to draw more than tentative conclusions about the real nature and scope of China's concessional lending. Over 48 countries have agreements with China for concessional loans. An average loan of US$20-30 million is made available to Chinese exporting firms to develop infrastructure and facilities in developing countries. While these loan sizes are not huge when compared to other aid flows, China's status as the dominant lender of concessional loans amongst some recipients makes this program significant. Finally, it is still not clear if the loans could be considered Official Development Assistance according to the DAC definition.
Topic:
Agriculture, Development, Emerging Markets, and International Trade and Finance
Political Geography:
China and Asia

213. A New President, a New Paradigm

Author:
Roger F. Noriega
Publication Date:
11-2007
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
U.S. policy in Latin America and the Caribbean always seems to inspire criticism: Too much, too little, too late. Back off. Get in the game. Don't just stand there, do something. Don't do something, just stand there. Our geographic closeness has meant a rich, natural partnership, but this proximity easily stirs concerns over sovereignty. When the United States is preoccupied with events in other parts of the world, regional pundits accuse Washington of indifference. If we speak clearly on the issues in Latin America, we are excoriated for poking our nose “where it doesn't belong.” So where does this leave U.S. foreign policy in the region? It could be that what we do may not be as important as how we do it. The first step in developing a new paradigm for engaging the Americas is using the 2008 election cycle here at home to develop a serious domestic constituency for our policy. Then we should shape that policy through a conscientious dialogue with stakeholders in the region.
Topic:
Foreign Policy and Emerging Markets
Political Geography:
United States, South America, Latin America, and Central America

214. Some Simple Tests of the Globalization and Inflation Hypothesis

Author:
Steven B. Kamin, Jaime Marquez, Jane Ihrig, and Deborah Lindner
Publication Date:
04-2007
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
This paper evaluates the hypothesis that globalization has increased the role of international factors and decreased the role of domestic factors in the inflation process in industrial economies. Toward that end, we estimate standard Phillips curve inflation equations for 11 industrial countries and use these estimates to test several predictions of the globalization and inflation hypothesis. Our results provide little support for that hypothesis. First, the estimated effect of foreign output gaps on domestic consumer price inflation is generally insignificant and often of the wrong sign. Second, we find no evidence that the trend decline in the sensitivity of inflation to the domestic output gap observed in many countries owes to globalization. Finally, and most surprisingly, our econometric results indicate no increase over time in the responsiveness of inflation to import prices for most countries. However, even though we find no evidence that globalization is affecting the parameters of the inflation process, globalization may be helping to stabilize real GDP and hence inflation. Over time, the volatility of real GDP growth has declined by more than the volatility of domestic demand, suggesting that net exports increasingly are acting to buffer output from fluctuations in domestic demand.
Topic:
Economics, Emerging Markets, Globalization, International Trade and Finance, and Markets

215. Summitry from G5 to L20: A Review of Reform Initiatives

Author:
Peter I. Hajnal
Publication Date:
03-2007
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
Pressures to reform the Group of Eight (G8) have come from a variety of sources and perspectives, including academic analysts, practitioners, civil society, leaders of non-G8 countries, and even some of the G8 leaders themselves. Over its 32-year history, this elite forum of democratic industrialized countries has shown its ability to accommodate change, but it is rooted in an earlier era, and the growing power shift in global relations toward emerging market countries has not been reflected in either its scope or its membership. In recent years there has been a plethora of proposals to reform the club, from narrowing its brief to having it to coexist with a new and more representative body, and from membership expansion to complete abolition. To appreciate the full extent of this set of debates, this paper looks back at the origins of the summit and its intended architecture. It then reviews and analyses actual and proposed reforms over the summit's history, from early pressures to modify the original G5 through current attempts to move beyond the G8 to an Leaders' 20 (L20) or perhaps a group of 14.
Topic:
International Relations, Civil Society, Development, and Emerging Markets

216. Slipping into Obscurity? Crisis and Reform at the IMF

Author:
Bessma Momani and Eric Helleiner
Publication Date:
02-2007
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
Top policymakers worry today that the International Monetary Fund (IMF) risks 'slipping into obscurity'. What explains the IMF's declining influence? Two significant developments have been the declining demand for IMF loans from middle-income borrowers, and the emergence of a more critical view towards the institution from US policymakers in recent years. In this new political context, a range of reform proposals has been put forward by Fund management, key shareholders, and the concerned policy community with the goal of restoring and preserving the IMF's significance. Advocates of change have focused particular attention on the need for process-oriented reforms that would change the nature of IMF governance as a means of restoring its legitimacy among many member governments. Also prominent have been more outcome-oriented reforms that propose various changes in IMF activities and performance. Are-invigorated IMF is unlikely to emerge from the current situation without the implementation of governance-related reforms.
Topic:
Foreign Policy, Economics, Emerging Markets, and International Trade and Finance
Political Geography:
United States

217. Telesur : Estrategia geopolítica con fines integracionistas

Author:
Andrés Cañizález and Jairo Lugo
Publication Date:
10-2007
Content Type:
Working Paper
Institution:
CONfines de Relaciones Internacionales y Ciencia Política
Abstract:
This article discusses the project of Telesur in the context of regional integration in Latin America and geopolitical confrontation with the US. The article considers the way in which confrontation between President Hugo Chávez's administration and the United States has made geopolitics a fundamental part of this telecommunications project. It discusses the validity of comparing Telesur to other broadcasters such as Al-Jazeera and EuroNews. Although is still too soon to provide an assessment of the viability of the channel, it is already possible to foresee that it will face in the near future a series of challenges that will reshape its nature and that of its audiences.
Topic:
Emerging Markets, International Cooperation, and Regional Cooperation
Political Geography:
Latin America

218. What's in it for Labour? Private social standards in the cut flower industries of Kenya and Tanzania

Author:
Lone Riisgaard
Publication Date:
08-2007
Content Type:
Working Paper
Institution:
Danish Institute for International Studies
Abstract:
Export of cut flowers from East Africa to Europe is an example of how tightened quality regulations and increasing concern with social and environmental issues have created a highly codified industry. For producers participating in value chains driven by large retailers, adopting social and environmental standards is a requirement and specificities are dictated by the buyers. In this paper focus is on private social standards and the opportunities and challenges they pose for labour organizations, especially trade unions. By incorporating the concept of labour agency, global value chain analysis is widened to encompass not just industrial development but also labour development.
Topic:
Agriculture, Economics, and Emerging Markets
Political Geography:
Kenya, Africa, Tanzania, and East Africa

219. A Conversation with Toomas Hendrik Ilves (CC\' 76), President of the Republic of Estonia and Mikheil Saakashvili (LAW\' 94), President of the Republic of Georgia

Author:
Toomas Hendrik Ilves and Mikheil Saakashvili
Publication Date:
09-2007
Content Type:
Video
Institution:
Columbia University World Leaders Forum
Abstract:
President Lee C. Bollinger moderates a discussion between President Toomas Hendrik Ilves and President Mikheil Saakashvili. This event is co-sponsored by the Harriman Institute.
Topic:
Economics, Emerging Markets, Politics, Regional Cooperation, and International Affairs
Political Geography:
Eastern Europe, Estonia, and Georgia

220. Corporate Citizenship and Urban Problem Solving: The Changing Civic Role of Business Leaders in American Cities

Author:
Royce Hanson, Hal Wolman, David Connolly, and Katherine Pearson
Publication Date:
09-2006
Content Type:
Working Paper
Institution:
The Brookings Institution
Abstract:
Business-led civic organizations have historically played an important role in urban policymaking, planning, and renewal. These elite organizations of CEOs of the area's largest employers could quickly mobilize their members' personal devotion to the community, their deal making talent, and their ability to commit corporate financial resources to their city's emerging needs.
Topic:
Development, Economics, Emerging Markets, and Industrial Policy
Political Geography:
America