Number of results to display per page
Search Results
1102. The Costs and Benefits of Duty-Free, Quota-Free Market Access for Poor Countries: Who and What Matters
- Author:
- Kimberly Elliott, Antoine Bouët, David Laborde Debucquet, and Elisa Dienesch
- Publication Date:
- 03-2010
- Content Type:
- Working Paper
- Institution:
- Center for Global Development
- Abstract:
- This paper examines the potential benefits and costs of providing duty-free, quota-free market access to the least developed countries (LDCs), and the effects of extending eligibility to other small and poor countries. Using the MIRAGE computable general equilibrium model, it assesses the impact of scenarios involving different levels of coverage for products, recipient countries, and preference-giving countries on participating countries, as well as competing developing countries that are excluded. The main goal of this paper is to highlight the role that rich and emerging countries could play in helping poor countries to improve their trade performance and to assess the distribution of costs and benefits for developing countries and whether the potential costs for domestic producers are in line with political feasibility in preference-giving countries.
- Topic:
- Economics, International Political Economy, International Trade and Finance, Markets, and Third World
1103. Open Markets for the Poorest Countries: Trade Preferences That Work
- Author:
- Kimberly Ann Elliott
- Publication Date:
- 04-2010
- Content Type:
- Working Paper
- Institution:
- Center for Global Development
- Abstract:
- Trade preference programs are an important and underused tool for stimulating exports, creating jobs, reducing poverty, and promoting prosperity and stability in poor countries. While many rich countries provide special access for exports from the least developed countries (LDCs) to promote these benefits, the trade preferences often do not extend to the products that matter most to LDCs, such as agriculture and clothing. Improving these programs could make a major difference in the lives of the poor, while having minimal effects on production or exports in preference-giving countries because the affected trade is so small: less than 1 percent of global exports are from LDCs. And, in the longer term, improved trade preferences for LDCs will promote shared prosperity and stability in rich and poor countries alike. Recognizing the role of trade in poverty reduction, the UN's Millennium Development Goals (MDGs) for poor countries call on high-income countries to provide duty-free, quota-free market access for the LDCs.
- Topic:
- Development, Economics, International Political Economy, International Trade and Finance, Poverty, and Third World
1104. Making Trade Preferences Work for the Poorest Countries
- Author:
- Kimberly Ann Elliott
- Publication Date:
- 04-2010
- Content Type:
- Policy Brief
- Institution:
- Center for Global Development
- Abstract:
- Trade preference programs can reduce poverty and promote prosperity and stability in the world's poorest countries, but they often fall short of their intended goals. They regularly exclude commodities that poor countries can produce competitively, such as agricultural products and clothing, and many programs must be frequently renewed, creating uncertainty and discouraging investment. Extending comprehensive, usable, and predictable quota-free market access to all least developed countries could provide a critical boost to the world's poorest people with only trivial effects on preference-giving countries. G-20 leaders should embrace trade preference reform this year to promote growth and stability in the world's poorest countries.
- Topic:
- International Trade and Finance, Markets, Poverty, and Third World
1105. The Substitution Account as a First Step Toward Reform of the International Monetary System
- Author:
- Peter B. Kenen
- Publication Date:
- 03-2010
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- Today, the international monetary system is based largely on the US dollar, but reserve currency diversification has begun, thanks to the advent of the euro, and it is apt to continue. Eventually, the renminbi could acquire reserve currency status, and the resulting reserve currency diversification could be more disruptive than it has been to date. To forestall that possibility the quasi-currency issued by the International Monetary Fund (IMF), Special Drawing Rights (SDRs), could be made to play a larger role in the international monetary system, precluding potentially disruptive diversification and achieving more orderly growth in the stock of international reserves.
- Topic:
- Economics, International Political Economy, International Trade and Finance, and Monetary Policy
- Political Geography:
- United States
1106. Export Control Reform 2010: Transforming the Legal Architecture of Dual-Use and Defense Trade Controls
- Author:
- Neena Shenai
- Publication Date:
- 02-2010
- Content Type:
- Working Paper
- Institution:
- American Enterprise Institute for Public Policy Research
- Abstract:
- This paper proposes reforms to the legal framework of the U.S. export control system. By examining the existing legal structure of dual-use and defense trade controls and its shortcomings, the paper considers how other U.S. legal regimes could provide models for ongoing reform efforts being undertaken by the Obama Administration and Congress. The paper proposes certain reforms, including the institution of added administrative safeguards and limited judicial review, to improve the current system.
- Topic:
- Foreign Policy, International Trade and Finance, and Political Economy
- Political Geography:
- United States
1107. Hope Floats
- Author:
- John H. Makin
- Publication Date:
- 04-2010
- Content Type:
- Policy Brief
- Institution:
- American Enterprise Institute for Public Policy Research
- Abstract:
- January ended on a note of diminished hope for a sustainable global recovery as stock markets retreated from their midmonth highs. Since mid-February, however, higher hopes for a sustainable global recovery have returned. Equity markets have rallied along with markets for corporate and global sovereign bonds. Some mitigation of perceived risks facing global investors has provided a chance for hope to “float up,” and it has done so. Tension over the cohesion of the European Monetary Union and, in particular, concerns over a possible sovereign-debt default by Greece have eased, and investors continue to hope that the debt problems in Greece will not spread to the rest of Europe.
- Topic:
- Economics, International Political Economy, International Trade and Finance, Markets, and Financial Crisis
- Political Geography:
- Europe and Greece
1108. The Year Ahead
- Author:
- John H. Makin
- Publication Date:
- 01-2010
- Content Type:
- Policy Brief
- Institution:
- American Enterprise Institute for Public Policy Research
- Abstract:
- We can expect 2010 to be a volatile year. This likelihood is underscored by looking back at 2008 and 2009. Two thousand eight was a highly volatile year leading up to the collapse of Lehman Brothers in September, which was followed by the risk of a total systemic meltdown. That sharp and obvious risk spike prompted massive policy responses that were simply the largest that central banks, with rate cuts and liquidity provision, and governments, with tax cuts and spending increases, could manage. The result—beginning in March 2009—was a linear rise in the prices of risky assets, the result of massive relief once the slip into a global depression had been averted and the acute phase of the crisis in the financial sector had passed.
- Topic:
- Economics, International Trade and Finance, Markets, and Financial Crisis
- Political Geography:
- United States, Japan, China, and Europe
1109. Lessons from the Asian Monetary Fund for the European Monetary Fund
- Author:
- Yonghyup Oh
- Publication Date:
- 04-2010
- Content Type:
- Policy Brief
- Institution:
- Centre for European Policy Studies
- Abstract:
- The euro area is facing a challenge with Greece in danger of falling into sovereign default and some of its other members, the so-called 'GIPSY' nations, finding themselves in serious financial distress. Creation of a European Monetary Fund to deal more effectively with this type of situation is gaining support. This paper draws lessons from the Asian experience that might be applied to the current European development.
- Topic:
- Debt, Economics, International Trade and Finance, and Monetary Policy
- Political Geography:
- Europe
1110. Developing Countries – even China – Cannot Rescue the World Economy
- Author:
- Manmohan Agarwal
- Publication Date:
- 01-2010
- Content Type:
- Policy Brief
- Institution:
- Centre for International Governance Innovation
- Abstract:
- Many analysts believe that developed countries will recover very slowly from the global economic crisis. Consequently, they have looked to the emerging economies of the developing world to help stabilize the world economy and generate a stronger recovery. Indeed, when the financial crisis first engulfed the rich countries in 2008 and early 2009, growth in developing economies was not affected as their banks and financial systems faced neither credit problems nor a more serious meltdown. It is true that some foreign investors, particularly institutional investors, withdrew their money from developing countries with large stock exchanges, setting off stock price declines and some currency devaluations. But this did not affect the “real” economy of production and employment. There was a wide belief that many developing economies were “decoupled” from the rich economies and could continue to grow and this growth would buoy the world economy. Even when output declined dramatically in the developed economies, reducing the demand for developing countries' exports, it was expected that growth in the larger emerging economies would not be significantly affected. This has been borne out by subsequent events. Growth in China has been 8-9 percent and in India about 6 percent in the first three quarters of 2009.
- Topic:
- Development, Economics, Emerging Markets, International Trade and Finance, and Financial Crisis
- Political Geography:
- China and India