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571. Tajikistan: 'Revolutionary situation' or a Resilient state?

Author:
Anna Matveeva
Publication Date:
12-2009
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
Since 2008, after a period of relative growth and social stability, the situation in Tajikistan has been steadily deteriorating, leading to increased speculation that the country could emerge as a failing state. Given its proximity to Afghanistan and Pakistan, and the role it plays in the Northern Distribution Network – a line that funnels military supplies from Europe to NATO ISAF troops in Afghanistan – the ramifications of potential instability in Tajikistan would resonate beyond the country. The current briefing assesses to what extent such danger is in fact real by outlining developments in the key areas of economy and security, and examining the regime's capacity to cope with emerging challenges. The briefing concludes with recommendations for the EU and an outlook for future.
Topic:
NATO, Fragile/Failed State, and Financial Crisis
Political Geography:
Afghanistan, Central Asia, and Tajikistan

572. Who can be trusted after the financial crisis?

Author:
Felix Roth
Publication Date:
11-2009
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
The financial crisis has damaged citizens' trust in public institutions, especially the confidence that European citizens invest in the European institutions. The results of major public opinion surveys show a severe decrease in citizens' trust in the immediate aftermath of the financial crisis with a slight recovery nine month later. In particular, citizens' net trust in the European Central Bank hit an historical low point in the aftermath of the financial crisis with a majority of people distrusting that institution. A variety of other surveys also show that confidence levels in the free market economy have decreased in most of the largest economies and demand for stronger state regulation has increased on both sides of the Atlantic. The key question now is whether this loss of confidence is a temporary or permanent phenomenon, which would have important consequences for the economy and for the proper working of the European institutions.
Topic:
Economics, Markets, and Financial Crisis
Political Geography:
Europe

573. The City in the Global Crisis: Understanding Impacts and Strengthening the Performance of Stimulus Packages

Author:
hael Cohen
Publication Date:
11-2009
Content Type:
Working Paper
Institution:
The New School Graduate Program in International Affairs
Abstract:
Though countries generate more than half their GDP in urban-based economic activities, the G-20 discussions in London and Pittsburgh devoted no recorded attention to urban infrastructure. Policy makers and designers of stimulus packages ignored two fundamental aspects of this crisis: Where the greatest impact of economic contraction are and where demand can be stimulated to generate the largest possible multipliers. This paper argues that while industrialized countries take urban and spatial dimensions of their economies for granted, this perspective is counterproductive for Latin American countries that are the most urbanized among developing countries.
Topic:
Economics, Globalization, Industrial Policy, and Financial Crisis
Political Geography:
Latin America

574. Speculating on Change: Four Paradoxes of Our Urban Future

Author:
Michael Cohen
Publication Date:
10-2009
Content Type:
Working Paper
Institution:
The New School Graduate Program in International Affairs
Abstract:
The current global economic crisis demonstrates the growing inter-connectedness and its impacts on the economic welfare and political stability of both rich and poor countries—the impact of which are greater in cities. It is important to understand the role of cities in the world, both as sites for the most impacts of global change and as providing solutions to some of these problems. Today, the challenge of urban change has been transformed into the policy and institutional economic, geographic, sustainable, and political but in the end it is manifest in the streets. The world has become urban.
Topic:
Globalization, Industrial Policy, Poverty, and Financial Crisis

575. Three Lessons from the Financial Crisis

Author:
John H. Makin
Publication Date:
09-2009
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
More than two years have passed since the U.S. housing bubble burst. That event ushered in a financial crisis that was not only intense but also stunning. So stunning in fact, that in August of last year, just a month before the collapse of Lehman Brothers, the global economy was close to a crisis worthy of comparison with the Great Depression, yet neither the markets nor the Federal Reserve had much of an inkling of what was to come. The Standard and Poor's (S) 500 Index had come down to about 1,300 from its October 2007 high of 1,576. Positive growth had just been reported for the U.S. economy during the second quarter of 2008 at an annual rate of 2.8 percent (later revised down to 1.5 percent). Almost one percentage point of that growth came from U.S. consumption, and government spending also contributed. The wave of relief after the Bear Stearns scare in March 2008 had provided a nice boost to the economy and to markets. That boost was further enhanced by the substantial contribution to growth from net exports (2.9 percentage points) thanks to what was, then, continuing strength in the global economy, especially in China, which had reported blistering 10.1 percent year-over-year growth in the second quarter of 2008. These and other positive components more than offset a drag from inventories and residential investment. In short, the real economy had not shown much evidence of damage emanating from the chaos that was churning in the financial sector.
Topic:
Economics, International Political Economy, International Trade and Finance, Markets, Monetary Policy, and Financial Crisis
Political Geography:
United States and China

576. Postcrisis Risks

Author:
John H. Makin
Publication Date:
11-2009
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
The only thing scarier than the slide of the dollar, which has dropped by 15 percent since March, would be an attempt by the Federal Reserve to stop it. Such an attempt would show that we have learned nothing from the Bank of Japan's disastrous premature exit from a zero-interest policy in August 2000. Closer to home, it would resemble the Fed's premature move to mop up “excess” reserves by doubling reserve requirements in three steps between August 1936 and May 1937, which was followed by the third-worst recession of the twentieth century, from May 1937 to June 1938.
Topic:
Economics, International Political Economy, International Trade and Finance, Monetary Policy, and Financial Crisis
Political Geography:
United States and Japan

577. Wall Street Is Dancing Again

Author:
John H. Makin
Publication Date:
10-2009
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Wall Street is dancing again to the music of a sharp rise in stock prices. The question that remains is whether Main Street, currently languishing in a sad world of job losses, unavailable credit, and weakened balance sheets, will get to join the party. To put the question more precisely, will the “adverse feedback loop” that saw a financial collapse last fall that crushed the real economy work in reverse, so that a financial bounce boosts the real economy in coming quarters? The jury is still out on this important question.
Topic:
Economics, Markets, and Financial Crisis
Political Geography:
United States

578. The G20 and Green Protectionism: Will We Pay the Price at Copenhagen?

Author:
John Whalley and Simon J. Evenett
Publication Date:
04-2009
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
This year was supposed to see breakthroughs in global environmental policy making, and that may still come to pass. However, the severity of the global economic downturn is intensifying protectionist pressures and fears of green protectionism.
Topic:
Climate Change, International Cooperation, International Trade and Finance, and Financial Crisis

579. The Global Economic Crisis and Its Implications for Asian Economic Cooperation

Author:
Michael G. Plummer
Publication Date:
10-2009
Content Type:
Policy Brief
Institution:
East-West Center
Abstract:
The economic crisis of 2008–09 is the second major crisis in just over a decade that Asia has endured. Unlike the Asian crisis of 1997–98, however, the current crisis originated mainly in the West. Asia's excessive reliance on net exports as the principal driver of economic growth since the 1997–98 crisis rendered it especially vulnerable to external shocks, and most Asian countries have paid dearly. The more open the economy, the more vulnerable it is to such shocks. The newly industrialized Asian economies (Singapore, Hong Kong, South Korea, and Taiwan), which are among the most open and dynamic in the world, are expected to contract by about 6 percent in 2009.
Topic:
Emerging Markets, International Trade and Finance, Regional Cooperation, Global Recession, and Financial Crisis
Political Geography:
Taiwan, Asia, South Korea, Singapore, and Hong Kong

580. A Vision for the Centennial of Our Republic

Author:
Şadi Ergüvenç
Publication Date:
05-2009
Content Type:
Policy Brief
Institution:
Global Political Trends Center
Abstract:
There are now less than fifteen years left before we celebrate the centennial of the Republic of Turkey. Taking into consideration the fact that we, the humans, managed to squeeze into the last century two or three world wars and worn out several ideologies, even raising the Earth's temperature whilst exhausting its natural resources, no doubt we will be living in a much different world than the present one, in fifteen years from now... Moreover, the pace of change has increased such that it is incomparable with that of the past and the possibility of unforeseen technological and societal change has dramatically improved. The way the latest financial crisis erupted is the manifestation of such a potential. Since no one yet can predict the eventual outcome of the crises that suddenly shook the financial markets and economies like an earthquake, an attempt to foresee the first quarter of the 21st century might seem like a futile effort.
Topic:
Natural Resources and Financial Crisis
Political Geography:
Turkey