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561. Die Anspruchsinflation des Wirtschaftssystems

Author:
Jens Beckert
Publication Date:
09-2009
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
The paper takes a theoretical look at the current financial and economic crisis, drawing on existing theories on crises of capitalism. I develop the thesis that the theories of “ungovernability” and “late capitalism” were wrong in locating the origins of crises in contemporary capitalism only indirectly in the economy. The theory of late capitalism, however, rightfully pointed out that the state cannot reduce its influence over the economy without endangering the functioning of markets themselves. This is due less, however, to the difficulty of maintaining loyalty, i.e. political support for the capitalist system than to the more immediate challenge of sustaining the preconditions for the system's economic viability. Today, a theory of the crises of capitalism must devote much more attention to the intrasystemic preconditions of the economic system.
Topic:
Economics, Markets, Political Theory, and Financial Crisis

562. The global economic crisis and FDI flows to emerging markets: for the first time ever, emerging markets are this year set to attract more than half of global FDI flows

Author:
Laza Kekic
Publication Date:
10-2009
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
The global economic and financial crisis has had a major impact on foreign direct investment (FDI) flows. After declining in 2008 by 17% to US$1.73trn from US$2.09trn in 2007—the high point of a four- year long boom in cross-border mergers and acquisitions (M) and FDI—global FDI inflows are forecast to plunge by 44% to less than US$1trn in 2009. The big drop in 2009 is occurring despite the improvements in the global economy in recent months. A notable feature of trends in 2009 is that, for the first time ever, emerging markets are set to attract more FDI inflows than the developed world.
Topic:
Development, Economics, Foreign Direct Investment, and Financial Crisis
Political Geography:
United States

563. Indian FDI falls in global economic crisis: Indian multinationals tread cautiously

Author:
Jaya Prakash Pradhan
Publication Date:
08-2009
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Just over a year ago, outward foreign direct investment (OFDI) from India seemed to be on a path of rapid and sustained growth. Its annual average growth of 98% during 2004–07 had been unprecedented , much ahead of OFDI growth from other emerging markets like China (74%), Malaysia (70%), Russia (53%), and the Republic of Korea (51%), although from a much lower base. Much of this recent growth had been fuelled by large-scale overseas acquisitions, however, and it faltered when the global financial crisis that started in late 2007 made financing acquisitions harder.
Topic:
Development, Economics, Foreign Direct Investment, and Financial Crisis
Political Geography:
Russia, China, Malaysia, India, and Korea

564. While global FDI falls, China's outward FDI doubles

Author:
Ken Davies
Publication Date:
05-2009
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
In 2008 global FDI fell by around 20%, while outward FDI from China nearly doubled. This disparity is likely to continue in 2009 and 2010 as China invests even more overseas. What is driving this continuing surge in China's outward FDI?
Topic:
International Trade and Finance, Foreign Direct Investment, and Financial Crisis
Political Geography:
China and Asia

565. The global financial crisis: will state emergency measures trigger international investment disputes?

Author:
Anne Van Aaken and Jürgen Kurtz
Publication Date:
03-2009
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Several developed countries have introduced emergency measures to mitigate the effects of the Global Financial Crisis, including Australia, Germany, Ireland, the United Kingdom, and the United States. Although the measures taken are still undergoing changes by the executive branch and are thus a “moving target”, our survey reveals early evidence of differentiation between foreign and domestic actors in the emergency plans adopted by this sample grouping. It is this differentiation that may give rise to liability as breaching guarantees against discrimination of foreign investors under international investment law.
Topic:
Economics, International Trade and Finance, Markets, International Affairs, Foreign Direct Investment, and Financial Crisis
Political Geography:
United States, United Kingdom, Germany, Australia, and Ireland

566. Keynote address by William C. Dudley, President of the Federal Reserve Bank of New York

Author:
William Dudley
Publication Date:
12-2009
Content Type:
Video
Institution:
Columbia University World Leaders Forum
Abstract:
This World Leaders Forum program features a keynote address by William C. Dudley, president of the Federal Reserve Bank of New York, followed by a question and answer session with the audience.
Topic:
Economics, International Political Economy, International Trade and Finance, Global Recession, and Financial Crisis
Political Geography:
United States and New York

567. The Dangers of Democratic Delusions

Author:
Kishore Mahbubani
Publication Date:
03-2009
Content Type:
Journal Article
Institution:
Carnegie Council
Abstract:
A "League of Democracies," according to Mahbubani, will divide the world at the very time that a new global consensus needs to be created to address pressing global challenges.
Topic:
Financial Crisis
Political Geography:
United States and Iraq

568. U.S.-Japan Relations

Author:
Michael J. Green
Publication Date:
01-2009
Content Type:
Journal Article
Journal:
Comparative Connections
Institution:
Center for Strategic and International Studies
Abstract:
The U.S. decision to rescind the designation of North Korea as a state sponsor of terrorism tested the bilateral relationship this quarter as the Bush administration was perceived in Japan as having softened its commitment to the abductee issue in favor of a breakthrough on denuclearization in the Six-Party Talks, which ultimately proved elusive. The Aso government managed to extend the Maritime Self-Defense Force (MSDF) refueling mission in the Indian Ocean for one year, though bilateral discussions on defense issues continued to center on whether Japan could move beyond a symbolic commitment to coalition operations in Afghanistan. Japanese domestic politics remained tumultuous as the opposition led by the Democratic Party of Japan (DPJ) thwarted the Aso legislative agenda to increase pressure for a snap election. Prime Minister Aso's approval rating plummeted over the course of the quarter due mostly to frustration with the response to the financial crisis, prompting him to postpone the widely anticipated Lower House election in an attempt to shore up support for the ruling Liberal Democratic Party (LDP). Public opinion polls revealed increased interest in offering the DPJ a chance at the helm with most observers predicting an election sometime next spring. Other polls at the end of the quarter showed the Japanese public less sanguine about the U.S.-Japan alliance, a sobering development as President-elect Obama prepared to take office.
Topic:
Development, Terrorism, and Financial Crisis
Political Geography:
United States, Japan, and North Korea

569. China-Southeast Asia Relations

Author:
Robert Sutter
Publication Date:
01-2009
Content Type:
Journal Article
Journal:
Comparative Connections
Institution:
Center for Strategic and International Studies
Abstract:
Asian commentators who asserted that China and its neighbors could ride out the economic crisis in U.S. and Western financial markets appeared in retreat during the quarter as the impact of the financial turmoil and recession in America and Europe began to have a major effect on China and the region's trade, manufacturing, currency values, and broader economic stability. The hope that China could sustain stable growth independent of the U.S. and Europe and thereby provide an engine of growth for export-oriented Southeast Asian countries was dented by Chinese trade figures that nosedived in November, especially Chinese imports, which fell by 18 percent. The financial crisis also dominated the discussion at the ASEM summit in October. Meanwhile, China continued to pursue infrastructure development projects with its neighbors to the south, resolved the land boundary dispute with Vietnam, and signed a free trade agreement with Singapore. Talk of a planned Chinese aircraft carrier caused some controversy, but on the whole assessments of China's rise were notably more balanced than in the past.
Topic:
Economics, Financial Crisis, and Reform
Political Geography:
United States, China, America, Europe, Asia, and Southeast Asia

570. Strengthening Corporate Governance to Combat Corruption

Publication Date:
03-2009
Content Type:
Policy Brief
Institution:
Transparency International
Abstract:
The collapse of global financial markets in September 2008 has ignited a debate on what caused their quick undoing. As captured in the comments of the OECD Secretary-General, there is a growing sentiment that poor corporate governance is one of the forces to blame. It allowed the transparency, accountability and integrity of companies to be compromised and for abuses to go unchecked, particularly on matters of corruption.
Topic:
Corruption, Genocide, Markets, and Financial Crisis