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1121. Aligning the maritime industry towards realizing the New Economic Model aspirations

Author:
Nazery Khalid
Publication Date:
04-2010
Content Type:
Policy Brief
Institution:
Maritime Institute of Malaysia
Abstract:
Malaysia is at a crossroad. It has done well to boost economic growth, thanks to sound economic strategies and management. From being a developing nation dependent upon commodities and agriculture to power its economic growth, Malaysia is now one of the top 20 trading nations. However, it has found itself 'stuck' in so-called 'middle income trap'. The economy, while more diversified today compared to three decades ago, is still reliant upon labor intensive activities and, inevitably, cheap labor. Malaysia's vulnerability to external shocks, as seen during the recession and credit crunch, underscores the urgent need for the nation's economic planners and policymakers to take drastic actions to make the economy more robust and move it up the value chain.
Topic:
Economics, International Trade and Finance, and Maritime Commerce
Political Geography:
Malaysia and Southeast Asia

1122. The case for a National Merchant Shipping Policy for Malaysia

Author:
Nazery Khalid
Publication Date:
05-2010
Content Type:
Policy Brief
Institution:
Maritime Institute of Malaysia
Abstract:
For a country with Malaysia's size and population, it certainly does not punch within its weight class in merchant shipping. As of 1 January 2009, Malaysia ranked 25th in the list of the most important maritime nations by way of its 0.79% contribution (9.39 mil. DWT) to the global merchant shipping tonnage (UNCTAD, 2009). MISC is the world's largest owner / operator of LNG tankers and a key player in international seaborne energy transportation. A growing number of Malaysian owners/operators of offshore service vessels (OSV) provide their services abroad, and Malaysian captains and officers are coveted for their skills and experience are sought by shipping lines worldwide.
Topic:
International Trade and Finance and Maritime Commerce
Political Geography:
Malaysia and Southeast Asia

1123. Seas under siege

Author:
Nazery Khalid
Publication Date:
05-2010
Content Type:
Policy Brief
Institution:
Maritime Institute of Malaysia
Abstract:
The oceans provide sustenance, resources and employment to many people. They also act as a conduit to migration of people and movement of goods that have shaped human civilization and facilitate global trade and economic growth. In addition to these pivotal roles, the seas also act as a regulator of the world's weather pattern. The importance of oceans that give the earth the moniker 'the Blue Planet' to civilization cannot be overemphasized.
Topic:
Climate Change, Environment, International Trade and Finance, and Maritime Commerce
Political Geography:
Malaysia

1124. Towards Realising the Potential of Malaysia's Shipbuilding Industry

Author:
Nazery Khalid
Publication Date:
03-2010
Content Type:
Policy Brief
Institution:
Maritime Institute of Malaysia
Abstract:
The tremendous growth of shipping activities in Malaysia over the years underlines the value of the maritime sector to its economic well-being and the importance of the seas to the lives of its people. Malaysia has emerged as a leading maritime nation in terms of merchant shipping capacity. United Nations Conference on Trade and Development (UNCTAD) ranked Malaysia 18th in a list of 35 most important maritime countries and territories as of 1 January 2008 in terms of deadweight tonnage (DWT) of its merchant vessels (including national and foreign flagged).
Topic:
Development, Industrial Policy, International Trade and Finance, and Maritime Commerce
Political Geography:
Malaysia, United Nations, and Southeast Asia

1125. Malaysia\'s Re-Election as an IMO Council Member: An Opportunity to Shin

Author:
Nazery Khalid
Publication Date:
01-2010
Content Type:
Policy Brief
Institution:
Maritime Institute of Malaysia
Abstract:
Malaysia\'s re-election as a member of Council C of the International Maritime Organisation (IMO) in November 2009 presents an excellent opportunity for this ambitious maritime nation to shine on the international stage. The re-election can be seen as the international community\'s vote of confidence for Malaysia to be the voice of developing nations at the IMO - the United Nations body that oversees the use and management of the world\'s oceans - and promote their interests. Having been given the thumbs-up by IMO members to assume the coveted IMO Council membership once again, expectations are now higher for Malaysia to make a mark at the international maritime platform.
Topic:
Democratization, International Trade and Finance, and Maritime Commerce
Political Geography:
Malaysia, United Nations, and Southeast Asia

1126. Wholesalers and Retailers in US Trade

Author:
J. Bradford Jensen, Andrew B. Bernard, Peter K. Schott, and Stephen J. Redding
Publication Date:
06-2010
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
International trade models typically assume that producers in one country trade directly with final consumers in another. In reality, of course, trade can involve long chains of potentially independent actors who move goods through wholesale and retail distribution networks. These networks likely affect the magnitude and nature of trade frictions and hence both the pattern of trade and its welfare gains. To promote further understanding of the means by which goods move across borders, this paper examines the extent to which US exports and imports flow through wholesalers and retailers versus producing and consuming firms.
Topic:
Economics, International Trade and Finance, and Markets
Political Geography:
United States

1127. Do Developed and Developing Countries Compete Head to Head in High Tech?

Author:
Robert Z. Lawrence and Lawrence Edwards
Publication Date:
06-2010
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
Concerns that growth in developing countries could worsen the US terms of trade and that increased US trade with developing countries will increase US wage inequality both implicitly reflect the assumption that goods produced in the United States and developing countries are close substitutes and that specialization is incomplete. In this paper we show on the contrary that there are distinctive patterns of international specialization and that developed and developing countries export fundamentally different products, especially those classified as high tech. Judged by export shares, the United States and developing countries specialize in quite different product categories that, for the most part, do not overlap. Moreover, even when exports are classified in the same category, there are large and systematic differences in unit values that suggest the products made by developed and developing countries are not very close substitutes—developed country products are far more sophisticated.
Topic:
Development, Emerging Markets, International Trade and Finance, Markets, Science and Technology, and Labor Issues
Political Geography:
United States

1128. Toward a Sunny Future? Global Integration in the Solar PV Industry

Author:
Jacob Funk Kirkegaard, Thilo Hanemann, Lutz Weischer, and Matt Miller
Publication Date:
05-2010
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
Policymakers seem to face a trade-off when designing national trade and investment policies related to clean energy sectors. They have pledged to address climate change and accelerate the large-scale deployment of renewable energy technologies, which would benefit from increased global integration, but they are also tempted to nurture and protect domestic clean technology markets to create green jobs at home and ensure domestic political support for more ambitious climate policies. This paper analyzes the global integration of the solar photovoltaic (PV) sector and looks in detail at the industry's recent growth patterns, industry cost structure, trade and investment patterns, government support policies and employment generation potential. In order to further stimulate both further growth of the solar industry and local job creation without constructing new trade and investment barriers, we recommend the following: Governments must provide sufficient and predictable long-term support to solar energy deployment. Such long-term frameworks bring investments forward and encourage cost cutting and innovation, so that government support can decrease over time. A price on carbon emissions would provide an additional long-term market signal and likely accelerate this process. Policymakers should focus not on solely the manufacturing jobs in the solar industry, but on the total number of jobs that could possibly be created including those in research, project development, installation, operations and maintenance. Global integration and broader solar PV technology deployment through lower costs can be encouraged by keeping global solar PV markets open. Protectionist policies risk slowing the development of global solar markets and provoking retaliatory actions in other sectors. Lowering existing trade barriers—by abolishing tariffs, reducing non-tariff barriers and harmonizing industry standards—would create a positive policy environment for further global integration.
Topic:
Climate Change, Globalization, International Cooperation, and International Trade and Finance

1129. Excessive Volatility in Capital Flows: A Pigouvian Taxation Approach

Author:
Olivier Jeanne and Anton Korinek
Publication Date:
05-2010
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
This paper analyzes prudential controls on capital flows to emerging markets from the perspective of a Pigouvian tax that addresses externalities associated with the deleveraging cycle. It presents a model in which restricting capital inflows during boom times reduces the potential outflows during busts. This mitigates the feedback effects of deleveraging episodes, when tightening financial constraints on borrowers and collapsing prices for collateral assets have mutually reinforcing effects. In our model, capital controls reduce macroeconomic volatility and increase standard measures of consumer welfare.
Topic:
Economics, Emerging Markets, International Trade and Finance, Foreign Direct Investment, and Financial Crisis

1130. The Margins of US Trade

Author:
J. Bradford Jensen, Andrew B. Bernard, Peter K. Schott, and Stephen J. Redding
Publication Date:
05-2010
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
Recent research in international trade emphasizes the importance of firms' extensive margins for understanding overall patterns of trade as well as how firms respond to specific events such as trade liberalization. In this paper, we use detailed US trade statistics to provide a broad overview of how the margins of trade contribute to variation in US imports and exports across trading partners, types of trade (i.e., arm's length versus related party) and both short and long time horizons. Among other results, we highlight the differential behavior of related-party and arm's-length trade in response to the 1997 Asian financial crisis.
Topic:
Economics, International Trade and Finance, and Markets
Political Geography:
United States