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1022. Multilateralism in Trade at Risk: Should and Can we Rescue the Doha Round?
- Author:
- Jagdish Bhagwati, Pascal Lamy, Michael Moore, and Leif Pagrotsky
- Publication Date:
- 12-2011
- Content Type:
- Video
- Institution:
- Columbia University World Leaders Forum
- Abstract:
- This World Leaders Forum program will feature an introduction by: - Pascal Lamy, Director-General of the World Trade Organization Followed by a panel discussion with: - Jagdish Bhagwati, University Professor of Economics Law, Columbia University; Economic Policy Adviser to Director General of GATT (1991-1993) - Michael Moore, Former Director General of World Trade Organization and Prime Minister of New Zealand; Ambassador of New Zealand to the United States - Leif Pagrotsky, Swedish Minister for Trade(1997-2004); currently member of the Swedish Parliament and of the Executive Board of the Social Democratic Party.
- Topic:
- Economics, Emerging Markets, International Trade and Finance, International Affairs, and Financial Crisis
- Political Geography:
- United States and New Zealand
1023. Political Challenges to Developing Non-Traditional Exports in Ghana: The Case of Horticulture Exports
- Author:
- Lindsay Whitfield
- Publication Date:
- 12-2011
- Content Type:
- Working Paper
- Institution:
- Danish Institute for International Studies
- Abstract:
- The nascent Ghanaian horticulture export sector, which emerged in the mid-1980s, has been ignored by ruling elites, especially after the return to multiparty democracy in 1993. Ruling elites across the two party governments between 1993 and 2008 did not actively pursue initiatives to support the industry. Without sustained political support, the types of public-private coordination of actions and investments needed to help the sector expand and upgrade were not forthcoming in an effective and timely manner. This private sector-driven non-traditional export sector constitutes a neglected opportunity for export diversification and building a new agro-industry, and also highlights some of the factors explaining why the country's economy was still dependent on the traditional exports of cocoa and gold by the close of the 2000s. The political challenges to changing the productive structure in Ghana can be found in the characteristics of ruling coalitions–vulnerability of the ruling elite in power, the high fragmentation within ruling coalitions, and their existing sources of and strategies for financing the state and the ruling coalition, combined with the country's existing economic structure as well as the size and capabilities of domestic capitalists. The characteristics of ruling coalitions in Ghana shaped the incentives facing ruling elites such that the ruling elites were not sufficiently compelled to support new productive sectors, such as horticulture export, which did not (yet) provide substantial revenues.
- Topic:
- Agriculture, Economics, International Trade and Finance, Social Stratification, and Governance
- Political Geography:
- Africa and Ghana
1024. Investment incentives and the global competition for capital
- Author:
- Kenneth P. Thomas
- Publication Date:
- 12-2011
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- Investment incentives (subsidies designed to affect the location of investment) are a pervasive feature of global competition for foreign direct investment (FDI). They are used by the vast majority of countries, at multiple levels of government, in a broad range of industries. They take a variety of forms, including tax holidays, grants and free land. Politicians, at least in the United States, may have good electoral incentives to use them.
- Topic:
- Development, Environment, Globalization, International Trade and Finance, Foreign Aid, and Foreign Direct Investment
- Political Geography:
- United States and Europe
1025. Knowledge, FDI and catching-up strategies
- Author:
- Francisco . Sercovich
- Publication Date:
- 12-2011
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- A recent Perspective by Terutomo Ozawa singles out protectionism and foreign direct investment (FDI) as alternative drivers for the take-off phase of catching-up industrialization. This dichotomy neglects the rich and nuanced variety of strategic options revealed by recent successful industrialization experiences.
- Topic:
- Development, Economics, International Trade and Finance, Science and Technology, and Foreign Direct Investment
1026. Inward FDI in Italy and its policy context
- Author:
- Marco Mutinelli and Lucia Piscitello
- Publication Date:
- 12-2011
- Content Type:
- Working Paper
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- The attractiveness of the Italian economy for inward foreign direct investment (IFDI) has been traditionally limited, despite the country's locational advantages such as a large domestic market and a skilled labor force. The recent global crisis worsened the country's IFDI position, with flows falling from US$ 40 billion in 2007 to -US$ 11 billion in 2008 before recovering to US$ 20 billion in 2009 but down again to US$ 9 billion in 2010. Although the country's IFDI stock had grown since 2000 at a rate similar to that of the European Union as a whole, in 2010 IFDI stock contracted vis-à-vis 2009, reflecting how Italy, compared to other key European countries and to its own potential, continues to underperform. The main obstacles to exploiting the country's potential for IFDI lie both in the largely insufficient actions undertaken to attract and promote IFDI, and especially in the lack of coordination with other relevant policy measures (e.g. infrastructure development) within a broader framework aimed at regional and national development.
- Topic:
- Development, Economics, International Trade and Finance, and Foreign Direct Investment
- Political Geography:
- Europe and Italy
1027. Towards an Enhanced Polish-Spanish Partnership
- Author:
- Bartlomiej Znojek
- Publication Date:
- 12-2011
- Content Type:
- Policy Brief
- Institution:
- The Polish Institute of International Affairs
- Abstract:
- In Autumn 2011, parliamentary elections took place in Poland and Spain. In both countries centre-right parties came out triumphant, but the new governments will hold power in extremely challenging times. The much-desired economic recovery in the EU has yet to come to pass and economic issues will dominate national political agendas. Poland Prime Minister Donald Tusk's coalition government of Civic Platform (PO) and its junior partner, Polish People's Party (PSL), will have to make significant reforms to reduce public debt and minimize the risk of recession. In Spain, however, Mariano Rajoy's People's Party (PP), the majority government, will have much harder work to do. It will need to restore international confidence in the Spanish economy, implement further measures aimed at stimulating economic growth and reducing the country's record-high unemployment. The success will depend on close cooperation among EU member states. Indeed, it is not only European economic recovery at stake but also the future of European integration. The present difficulties have been feeding euroscepticism and doubts about the integrity of the EU. With their strong record as the most vocal supporters and beneficiaries of the membership to the bloc, Poland and Spain could champion efforts advocating solidarity and further integration in the EU. The urgency and scale of the issues concerning the Union give a perfect opportunity for these new governments to renew a common agenda and enhance their bilateral relationship.
- Topic:
- Foreign Policy, Diplomacy, International Trade and Finance, Treaties and Agreements, and Bilateral Relations
- Political Geography:
- Europe, Poland, and Spain
1028. European Neighbourhood Policy: How to Reconcile EU's Offer with Neighbour's Expectations?
- Author:
- Beata Wojna and Monika Arcipowska
- Publication Date:
- 11-2011
- Content Type:
- Policy Brief
- Institution:
- The Polish Institute of International Affairs
- Abstract:
- Since its launch in 2004, the ENP has succeeded in bringing about a strengthening of economic relations, especially trade, between the EU and its neighbours. However, the political record of the seven-year implementation of this policy is relatively poor. The violent, unprecedented socio-political changes in North Africa and the Middle East, which started in January 2011, revealed weaknesses and problems in the European policy towards its southern neighbours as developed in the framework of the Barcelona Process and the Union for the Mediterranean. Arab spring has shown that the EU support to introduce political reforms and to build and consolidate democracy in the southern neighbouring countries has yielded very limited results. The Eastern Partnership seems to be one of the few positive manifestations of the European Neighbourhood Policy's evolution in recent years but is not free from problems. The most tell-tale sign of the Eastern Partnership's deficiencies is a palpable relapse in democratisation.
- Topic:
- Foreign Policy, Economics, International Trade and Finance, and Regional Cooperation
- Political Geography:
- Africa, Europe, and Middle East
1029. European Perspectives for Moldova: Challenges and Obstacles
- Author:
- Anna Maria Dyner and Anita Emőke Sobják
- Publication Date:
- 10-2011
- Content Type:
- Policy Brief
- Institution:
- The Polish Institute of International Affairs
- Abstract:
- Moldova appeared for the first time on the horizon of EU foreign policy in the second half of the '90s, but a comprehensive policy towards that country only started to be contoured with the launching of the Eastern Partnership (EaP) in 2009. The Warsaw Declaration of the second EaP summit acknowledged “the European aspirations and the European choice” of Moldova, and as such, the EaP initiative might be treated as a preaccession stage. Issues currently on the negotiation table are visa regime liberalization, signing the Association Agreement (which is to replace the PCA) and the establishment of an EU–Moldova free-trade area by a Deep and Comprehensive Free Trade Agreement.
- Topic:
- International Trade and Finance, Political Economy, Regional Cooperation, and Treaties and Agreements
- Political Geography:
- Europe
1030. A China Round of Multilateral Trade Negotiations
- Author:
- Arvind Subramanian and Aaditya Mattoo
- Publication Date:
- 12-2011
- Content Type:
- Working Paper
- Institution:
- Peterson Institute for International Economics
- Abstract:
- Until recently, the World Trade Organization (WTO) has been an effective framework for cooperation because it has continually adapted to changing economic realities. The current Doha Agenda is an aberration because it does not reflect one of the biggest shifts in the international economic and trading system: the rise of China. Even though China will have a stake in maintaining trade openness, an initiative that builds on but redefines the Doha Agenda would anchor China more fully in the multilateral trading system. Such an initiative would have two pillars. First, a new negotiating agenda that would include the major issues of interest to China and its trading partners, and thus unleash the powerful reciprocal liberalization mechanism that has driven the WTO process to previous successes. Second, new restraints on bilateralism and regionalism that would help preserve incentives for maintaining the current broad non-discriminatory trading order.
- Topic:
- Economics, Globalization, International Trade and Finance, and Markets
- Political Geography:
- China and Israel