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131. Are resurging state-owned enterprises impeding competition overseas?

Author:
Nilgün Gökgür
Publication Date:
04-2011
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
There are no up-to-date systematic data on the size, composition, ownership structure, and economic weight of state-owned enterprises (SOEs), so we are unable to assess the impact of SOE performance on stakeholders in domestic and overseas markets. Yet there is sufficient evidence of their expansion, especially following the 2008 financial crisis. Emerging markets, led by China, are now increasingly encouraging their SOEs to expand globally as multinational enterprises (MNEs).
Topic:
Economics, Emerging Markets, Globalization, and Markets
Political Geography:
Africa and China

132. Assertive Brazil: An emerging power and its implications

Author:
Mikael Wigell
Publication Date:
05-2011
Content Type:
Policy Brief
Institution:
Finnish Institute of International Affairs
Abstract:
Brazil has risen to international prominence over the last decade. Now the 7th largest economy in the world, the country has started acting with greater confidence and authority on the international stage.
Topic:
Foreign Policy, Emerging Markets, and Regional Cooperation
Political Geography:
United States and Brazil

133. Sovereign Wealth Funds: Is Asia Different?

Author:
Edwin M. Truman
Publication Date:
06-2011
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
Sovereign wealth funds (SWFs) have become a prominent feature of the international financial landscape. They are sufficiently diverse in their origins, structures, and objectives that generalizations are perilous. However, legitimate concerns have been raised in home and host countries about the management, behavior, and interactions of these funds. Many of those concerns can be addressed via increased accountability and transparency. The Santiago Principles are a good start in doing so, but Edwin M. Truman's SWF scoreboard points to areas where these principles can be improved. Meanwhile, SWF compliance must be further increased. At the same time, the Organization for Economic Cooperation and Development (OECD) effort to address concerns from the host-country side has not resulted in the erection of new barriers to that form of cross-border investment, but the OECD failed to reverse the creeping financial protectionism of the past decade. Because of their size and the source of their funding, some Asian funds are different. As a result, they will be held to a higher standard of accountability and transparency even as their government owners press for more openness to cross-border investment.
Topic:
Economics, Emerging Markets, and International Trade and Finance
Political Geography:
Asia

134. World Population Prospects and the Global Economic Outlook

Author:
Nicholas Eberstadt
Publication Date:
02-2011
Content Type:
Working Paper
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
This paper examines global demographic prospects to the year 2030 and assesses the influence that impending population trends may have upon economic performance in coming years for the world as a whole and the major regional economies. A reasonably reliable assessment of prospective global trends to 2030 is feasible today because the overwhelming majority of people who will be living in that future world are already here, alive today. This includes all of that future world's senior citizens and almost its entire workforce. Major changes in global population trends are in the offing--among these, a sharp slowdown in the growth of available manpower, with impending declines of manpower for some regions, and pervasive population aging. Furthermore, in many of today's important "emerging markets" demographic pressures may constrain economic growth more significantly than is currently appreciated. Coping with these looming demographic realities will require far-reaching reforms and innovations if we hope to maintain the pre-crisis tempo of global economic growth (much less accelerate it).
Topic:
Demographics, Development, Economics, Emerging Markets, and Poverty

135. Are Drugs Made in Emerging Markets Good Quality? A Preliminary Assessment of Product Consistency by Use of Raman Spectra

Author:
Roger Bate
Publication Date:
02-2011
Content Type:
Working Paper
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Increasing competition generally decreases product prices. But in the case of pharmaceuticals, this is only beneficial if competitor products are therapeutically equivalent (bioequivalent). One measure of quality control is a consistently made product, examined in detail in this paper. A comprehensive study of drug samples in African and Asian countries--assessed for variability by spectrometer--suggests that registered products perform notably better than unregistered products. As all of the sampled drugs are used to treat potentially lethal infections, this product variability (particularly of unregistered drugs) could prove detrimental to public health. Future analysis will assess how significant these spectral differences are in terms of drug quality and hence how important changes in policy should be to limit quality variability.
Topic:
Emerging Markets, Health, Human Welfare, and International Trade and Finance
Political Geography:
Africa, China, and Asia

136. Putting the "Kerala Model" to Rest: Lessons for a New Era of Development in India

Author:
Apoorva Shah
Publication Date:
09-2011
Content Type:
Working Paper
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
In a country where two out of five citizens, about 450 million people, live in poverty, it is no exaggeration to say that the development experience of Kerala – a coastal state on the southwestern tip of India – stands out as extraordinary. Despite a history of anemic economic growth, this state of 32 million boasts effectively universal literacy rates and life expectancy levels close to many Western societies. Because of this, the “Kerala model” has been hailed by NGOs, development experts, and Western academics as an alternative path for human development in which a robust welfare system rather than economic growth drives social progress.
Topic:
Development, Economics, Emerging Markets, and Poverty
Political Geography:
South Asia, India, and Kerala

137. Organising an investment in China: Prepare for opportunity

Publication Date:
11-2011
Content Type:
Working Paper
Abstract:
Foreign companies continue to be attracted by the opportunities offered by China's large and rapidly growing economy. China has a population of over 1.3bn, and the size of the economy is likely to grow to just under US$13trn a year at market exchange rates by 2015. Although GDP per head will still be relatively low by the end of the forecast period, at just under US$10,000 a year, this will represent a substantial improvement from just under US$4,500 in 2010. Significant regional disparities within China will persist. The provinces of the eastern seaboard enjoy standards of living well above the national average. However, there are also markets to be found in inland China, where many large cities are located. To some extent, the size of the population and the pace of economic growth belie the challenges of operating in China. Nationwide distribution networks will increasingly be put in place, but the Chinese market is likely still to be a fragmented one by 2015.
Topic:
Economics, Emerging Markets, Globalization, and Foreign Direct Investment
Political Geography:
China

138. Making the Transition: From Middle-Income to Advanced Economies

Author:
Alejandro Foxley and Fernando Sossdorf
Publication Date:
09-2011
Content Type:
Working Paper
Institution:
Carnegie Endowment for International Peace
Abstract:
Few middle-income countries have successfully transitioned into advanced economies in the past twenty years. As the world struggles with a new economic slowdown, middle-income countries should look at the lessons from the economies that successfully made the jump.
Topic:
Development, Emerging Markets, International Trade and Finance, Markets, and Financial Crisis

139. Full speed ahead: The government broadband report Q3 2011

Publication Date:
10-2011
Content Type:
Working Paper
Abstract:
As the third edition of our government broadband report shows, 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, Emerging Markets, Science and Technology, and Governance

140. Deforestation's Challenge to Green Growth in Brazil

Author:
Benjamin S. Allen, Charles Travers, and Louise Travers
Publication Date:
09-2011
Content Type:
Working Paper
Institution:
Berkeley Roundtable on the International Economy
Abstract:
Understanding Brazil's green growth and emissions story requires a second look. Brazil's energy matrix is approximately 46% renewable, so when one compares the share of greenhouse gas (GHG) emissions from energy in Brazil to that of most OECD countries, Brazil is doing relatively well (IPEA 2010, 133). However, looking at energy alone misses the core GHG story in Brazil: The principal drivers of GHG emissions in the country are not energy production or heavy industry, but rather deforestation and agriculture. Deforestation is responsible for about 55% of Brazil's GHG emissions, and agriculture for another 25% (McKinsey Company 2009, 7). In fact, the two areas of emissions are intimately linked: deforestation is principally a problem of agriculture. Cattle ranching and soybean and sugar cane farming are the major industries contributing to Brazil's emergence today as an agricultural and agroenergy superpower – and are directly and indirectly responsible for deforestation in Brazil's largest forests, the Amazon and Atlantic (Banco Mundial 2010, Barros 2009, Margulis 2004, McAllister 2008b, Nassar 2009, Nepstad et al. 2008, Sennes and Narciso 2009). By extension, because Brazil's large and growing renewable energy sector is principally based on agriculture, it has ties to deforestation and may not be as green as it first appears.
Topic:
Agriculture, Emerging Markets, Energy Policy, and Environment
Political Geography:
Brazil and Latin America