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Begin New Search Topic International Trade and Finance Publication Year within 25 Years

651. Templates for Trade: Change, Persistence and Path Dependence in U. S. and EU Preferential Trade Agreements

Author:
Ali Arbia
Publication Date:
09-2013
Content Type:
Working Paper
Institution:
The Kolleg-Forschergruppe (KFG)
Abstract:
Over the last two decades, Preferential Trade Agreements (PTAs) proliferated through the international trading system. PTAs created a web of rules paralleling and extending the system of the World Trade Organization (WTO). PTAs are an increasingly dominant feature of the international trading system, adding to a steadily increasing complexity. Their content is rarely studied systematically across agreements, and the mechanisms leading to their genesis are little understood. It is typically assumed that actors like the European Union (EU) and the United States (U. S.) work off a template when negotiating PTAs. Some argue that this allows them, amongst others, to impose a regulatory regime. This working paper attempts to put this claim to the test. Using diffusion theory as framework, it analyzes PTAs signed by the EU, the U. S. and their regional trading partners. Understanding the use of templates will help negotiating parties to assess the margin of maneuver when negotiating PTAs with the EU and the U. S. as well as the rigidity of their mandate. The analysis is conducted on a regional and a domestic level using aggregated data on PTA content and a qualitative assessment of selected PTA provisions (anti-corruption, environment and cultural cooperation). The study finds that the flexibility of these mandates is considerable and that templates, if used at all, can change substantially over time.
Topic:
Economics, International Trade and Finance, Treaties and Agreements, and Governance
Political Geography:
United States and Europe

652. Iceland and Europe: Drifting further apart?

Author:
Baldur Thorhallsso and Alyson J. K. Bailes
Publication Date:
09-2013
Content Type:
Policy Brief
Institution:
Finnish Institute of International Affairs
Abstract:
Iceland applied for EU membership in 2009 at the height of the economic crisis. Four years later, a new government has put the application on hold: the majority of Icelanders are opposed to entry, but want to continue the accession process and put the results to a vote. Iceland's longer-standing problems with European integration stem from the issue of sovereignty in general, and maintaining control over fisheries and agriculture in particular. Since 2009, anti-European feelings have been stoked by the 'Icesave' dispute, while the prospective benefits of entry (including use of the euro) have been tarnished by witnessing the fate of other small states during the euro crisis. The new government proposes remaining a member of the EEA and developing relations with other world powers. But the US commitment to Iceland has weakened over the years, and 'rising' powers like China are unable, as yet, to solve the country's core problems. In terms of both its security and its standing within the global economy, Iceland is becoming more rather than less dependent on Europe over time. The question raised by the latest political turn is whether it will have to maintain that relationship from a distance, with limited control and with no guaranteed goodwill.
Topic:
Economics, International Trade and Finance, Political Economy, Regional Cooperation, Treaties and Agreements, and Financial Crisis
Political Geography:
United States and Europe

653. Arctic Conflict Potential: Towards an extra-Arctic perspective

Author:
Juha Käpylä and Harri Mikkola
Publication Date:
09-2013
Content Type:
Policy Brief
Institution:
Finnish Institute of International Affairs
Abstract:
According to a popular notion, huge natural resource reserves located in the Arctic region will lead to a conflictual “gold rush” when Arctic states compete to claim these reserves for themselves. More precisely, there is the potential for interstate conflict in the Arctic area related to unresolved border issues, control of the Arctic maritime routes, and demarcation of the resource-rich continental shelves under the Arctic Ocean. However, Arctic states have little to gain by letting the Arctic dynamics slip into a conflict state that would create an unfruitful investment environment in the region. Relatively well-functioning regional and international governance mechanisms further defuse the interstate conflict potential in the region. Despite the divergent political interests of various players, the intra-Arctic conflict potential remains low. Should interstate conflict surface in the Arctic, the source is most likely to be related to complex global dynamics that may spill over to the region and which cannot be addressed with existing Arctic governance mechanisms. This extra-Arctic perspective should be increasingly taken into consideration by scholars and policy-makers.
Topic:
Conflict Prevention, Climate Change, International Trade and Finance, Oil, and Natural Resources

654. China's Credit Boom: New Risks Require New Reforms

Author:
Nicholas Borst
Publication Date:
10-2013
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
The Chinese financial system has undergone almost continuous reform since the dismantling in the 1980s of the Soviet- style system where only one state-controlled bank existed. Government efforts to create a financial system that adheres to international best practices of commercial lending accelerated in the 1990s (box 1). Reforms progressed quickly during this period, but they were accompanied by excessive credit growth and a massive increase in nonperforming loans, threatening the solvency of some banks and the financial stability of the entire economy. The risk of these weaknesses was dramatized by the 1997 Asian financial crisis, in which several nearby countries were crippled by plunging currency values, rising interest rates and difficulties servicing their foreign-held debts.
Topic:
Debt, Economics, International Trade and Finance, Markets, and Financial Crisis
Political Geography:
China

655. Lehman Died, Bagehot Lives: Why Did the Fed and Treasury Let a Major Wall Street Bank Fail?

Author:
William R. Cline and Joseph E. Gagnon
Publication Date:
09-2013
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
Five years after the Federal Reserve and the Treasury allowed the investment bank Lehman Brothers to fail, their actions (or inaction) remain a focus of debate. Some argue that it was an inconsistent policy to have let Lehman fail while making emergency loans to save other large financial institutions in the same time frame. In this Policy Brief we present evidence that the Fed and Treasury had a sound reason to have bailed out other institutions while letting Lehman fail. Simply put, Lehman was insolvent—probably deeply so—whereas the other institutions arguably were solvent. In addition, the other institutions had abundant collateral to pledge, whereas what little collateral Lehman had to pledge was of questionable quality and scattered across many affiliated entities. Thus, federal officials, at least in hindsight, appear to have followed the dictum of Walter Bagehot (cited above), which has guided central banks for almost 150 years.
Topic:
Debt, Economics, International Trade and Finance, Markets, and Financial Crisis
Political Geography:
United States

656. China\'s Exports of Small Arms and Light Weapons

Author:
Mark Bromley, Paul Holtom, and Mathieu Duchâtel
Publication Date:
10-2013
Content Type:
Working Paper
Institution:
Stockholm International Peace Research Institute
Abstract:
China has long been one of the world\'s most significant exporters of small arms and light weapons (SALW). It is also among the least transparent. At the same time, China has stated its commitment to preventing the illicit trade in SALW and formally recognizes the destabilizing effect that SALW transfers can have on peace and security, economic development and social stability.
Topic:
Crime, International Law, and International Trade and Finance
Political Geography:
China

657. Turkey's "Zero Problems" Era in the Balkans

Author:
Mehmet Ugur Ekinci
Publication Date:
10-2013
Content Type:
Working Paper
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
While some observers, referring to recent developments in the Middle East, are questioning whether Turkey's “zero problems with neighbours” doctrine is still in effect, Turkey's relations with the Balkans are enjoying their golden age. Since the mid-2000s, bilateral relations with all governments in the region have been in good terms, social and economic relations have intensi­fied and Turkey's public image has become increasingly positive.
Topic:
Foreign Policy, Diplomacy, Economics, International Trade and Finance, and Regional Cooperation
Political Geography:
Turkey, Middle East, and Balkans

658. Transnational Challenges and Future Security Cooperation: The Australia-Canada Relationship

Author:
Sarah Norgrove
Publication Date:
09-2013
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
The possibilities for future Asia-Pacific security cooperation between Australia and Canada are promising. Economic development and population growth mean that security challenges present themselves as opportunities. Australia and Canada are well positioned to influence regional approaches to transnational challenges such as crime, terrorism, piracy and environmental degradation, and to contribute to food, energy and cyber security. This paper explores the current state of security cooperation between Australia and Canada in the Asia-Pacific, and identifies opportunities to extend the relationship, focussing on collaborative efforts like economic and maritime cooperation, which may help tackle transnational security challenges.
Topic:
Security, Development, Economics, International Trade and Finance, and Treaties and Agreements
Political Geography:
Canada, Asia, and Australia

659. Growth and Opportunity: The Landscape of Organizations that Support Small and Growing Businesses in the Developing World

Author:
Monitor Deloitte
Publication Date:
09-2013
Content Type:
Working Paper
Institution:
Aspen Institute
Abstract:
Over the next decade some 600 million new jobs will be needed to reverse the effects of the global financial crisis and avoid a further increase in unemployment. Small and growing businesses (SGBs) are a critical growth engine capable of creating many of these jobs Not only do SGBs create a large number of jobs—200 on average—but those jobs tend to be higher paying. One study showed that companies with 10–50 employees offer wage premiums of 10-30% over micro-enterprises with less than 10 employees, while the premium increases to 20-50% if the business has more than 50 employees. In short, creating new jobs is a critical component to improving livelihoods in the developing world, and SGBs are an important tool for driving this job creation, as well as producing other positive social and environmental returns for their communities by producing goods and services (health, education, sanitation, etc.) for the world's poorest.
Topic:
Development, Economics, International Trade and Finance, Markets, Political Economy, Foreign Aid, and Foreign Direct Investment

660. Oil, Conflict, and U.S. National Interests

Author:
Jeff D. Colgan
Publication Date:
10-2013
Content Type:
Policy Brief
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
Although the threat of “resource wars” over possession of oil reserves is often exaggerated, the sum total of the political effects generated by the oil industry makes oil a leading cause of war. Between one-quarter and one-half of interstate wars since 1973 have been connected to one or more oil-related causal mechanisms. No other commodity has had such an impact on international security.
Topic:
Conflict Resolution, Foreign Policy, International Trade and Finance, Oil, and War
Political Geography:
United States, Middle East, and Arabia