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41. Opinion: China International Import Expo: New era, shared future

Author:
Su Qingyi
Publication Date:
07-2018
Content Type:
Policy Brief
Abstract:
The first China International Import Expo (CIIE) will be held from November 5 to 10 in Shanghai. The theme of the CIIE is "New Era, Shared Future," which has rich connotations. The first implication of the new era is that countries around the world begin to realize the importance of imports Economists usually emphasize sellers and exporters when they analyze the exchange between peoples and trade between countries. They tend to attach importance to exports when participating in international trade, and try to promote the growth of export.
Topic:
Markets, Economy, Trade, and Imports
Political Geography:
China and Asia

42. China will further open up but not due to US pressure

Author:
Dong Yan
Publication Date:
04-2018
Content Type:
Policy Brief
Abstract:
China will take measures to further open up to the outside world, Xi said in his highly-anticipated keynote address at the Boao Forum for Asia. But amid the escalating China-US trade conflict, some people have wrongly assumed Xi made the remarks with the Trump administration's accusations in mind. But a review of China's policies shows the country will deepen reform and opening-up because of its practical development needs, not because of any other country's demand or coercion. As for the expansion of imports, China shifted its focus from exports to striking the right balance between imports and exports long ago, because the increase in imports will offer more choices to Chinese consumers and help improve their living standards, aside from giving foreign companies easier access to the Chinese market.
Topic:
Markets, Trade Wars, and Imports
Political Geography:
China, Asia, North America, and United States of America

43. Polish FDI in Central Asian Countries

Author:
Krystyna Gomółka
Publication Date:
01-2018
Content Type:
Journal Article
Journal:
Polish Political Science Yearbook
Institution:
Polish Political Science Association (PPSA)
Abstract:
Since gaining independence, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan gradually opened their markets to foreign investors. Before Poland’s acces- sion to the European Union, the activities of Polish investors in Kazakhstan, Kyrgyzstan, Ta- jikistan, Turkmenistan and Uzbekistan were based on bilateral treaties concluded by Poland with those countries. Later, except Turkmenistan, they were governed by the partnership and cooperation agreements between the European Communities and their Member States. Despite the ample investment opportunities and favourable conditions for access to the mar- ket, the activity of Polish companies in these markets has not produced a significant effect. Poland invested with more considerable success on the markets in Kazakhstan and Kyrgyz- stan. It made investment attempts in Tajikistan and Uzbekistan, leaving out Turkmenistan. The reason why Poland has a weak position in these markets is the distance between the partners and inability of Polish companies to efficiently compete with large multinational companies which have been operating there for years. In the Kazakh market, good invest- ment prospects are available for waste management, petrochemical, mining and road con- struction companies. In Kyrgyzstan, there are cooperation possibilities in the area of modern agricultural and processing technologies and establishment of fruit and vegetable process- ing enterprises. In Tajikistan, enterprises can invest in petroleum and natural gas extraction and exploitation, the fuel market, processing of precious metals and construction of conven- tional and hydroelectric power plants. In Turkmenistan, Polish companies can compete for road, railway and housing construction contracts, whereas in Uzbekistan they can invest in businesses covered by government tax reductions.
Topic:
Markets, Infrastructure, Governance, and Investment
Political Geography:
Europe, Central Asia, Kazakhstan, Asia, Kyrgyzstan, Tajikistan, Uzbekistan, and Turkmenistan

44. The Impact of Trade Liberalization in Africa

Author:
Jae Wook Jung
Publication Date:
11-2017
Content Type:
Working Paper
Institution:
Korea Institute for International Economic Policy (KIEP)
Abstract:
Africa is one of the most economic-integrated continents by a number of regional trade agreements in the continent. There are about 30 bilateral and multilateral trade agreements within the continents so that each African coun-try is a member of at least one regional trade agreement. Trade between Afri-can countries, however, barely exceeds 10% of the total trade of Africa, which is much lower than other continents’ intra-regional trade share. This discrepancy between many regional trade agreements and small intra-continent trade share tells that regional economic integrations in Africa are very unsuccessful trade liberalization policies to promote trade. This paper examines a reason why trade liberalization policies in Africa fail. In particular, we investigate the impact of trade agreements in Africa on trade conditional on financial market development and political instability. An empirical study finds that Africa countries’ poor financial market accessibility and political instability are key barriers to trade integration in the region. These two factors can explain most disadvantage of African countries in their intra-regional trade. In a dynamic regression, the two factors depress the long-run growth of trade due to trade liberalization in the region significantly, while African continent dummy variable that captures other unobserved trade obstacles in the region has much less effect on trade compared to the literature on African regional economic integration.
Topic:
Markets, Treaties and Agreements, Economic Policy, and Trade Liberalization
Political Geography:
Africa and South Korea

45. Corporate Debt Market in Korea

Author:
Paul Moon Sub Choi
Publication Date:
07-2017
Content Type:
Special Report
Institution:
Korea Economic Institute of America (KEI)
Abstract:
This report conducts an analysis of the corporate bond market in Korea and the changes in interest rates and term structure since the 1997 Asian financial crisis. The potential risks and solutions for stabilizing the corporate debt market are discussed. Corporate bonds not only play an important role in financing long-term corporate investments but also have a positive and persistent influence on enhancing the capital markets. Thus, the authorities in Korea have attempted to increase the proportion of corporate bonds, which is a means of direct financing, rather than bank loans. Implementing specific plans to stabilize the corporate debt market that are mentioned in this report are critical to sustaining the Korean capital markets as a means towards continued economic growth and prosperity.
Topic:
Debt, Markets, Financial Crisis, Economy, and Investment
Political Geography:
Asia, South Korea, and Korea

46. The Influence of Economic Migration on the Polish Economy

Author:
Agata Górny, Paweł Kaczmarczyk, and Joanna Tyrowicz
Publication Date:
11-2017
Content Type:
Special Report
Institution:
Center for Social and Economic Research - CASE
Abstract:
In the ongoing public debate on economic migration to Poland, emotional statements, or those without any basis in data, often have the upper hand. But in order to speak rationally about Poland as a destination country for immigrants, it is necessary to fully understand the conditions – and in particular the weaknesses – of the Polish labor market. It’s also worth becoming aware of the scale of the processes being discussed. In the 149th mBank-CASE Seminar Proceedings, Joanna Tyrowicz analyzes whether immigration could be a significant labor market driver in Poland. Paweł Kaczmarczyk and Agata Górny discuss the structural consequences of the inflow of Ukrainian workers to the Polish labor market.
Topic:
Markets, Migration, Labor Issues, Immigration, and Economy
Political Geography:
Europe, Poland, and European Union

47. Innovation and Access to Finance

Author:
Michele Cincera and Arabela Santos
Publication Date:
01-2016
Content Type:
Working Paper
Institution:
Institute for Development and International Relations (IRMO)
Abstract:
Promoting Research and Development (R&D) activities is the main goal of the EU 2020 Strategy in order to achieve an R&D spending at least 3% of GDP. The Innovation Union is one of the seven flagship initiatives of the EU 2020 Strategy, which has the aims: to improve access to finance for R&D; to get innovative ideas to market; to ensure growth and jobs (European Commission, 2014b). The aim of the present paper is to identify and explain the main mechanisms related to four commitments of Innovation Union: i) Commitment 10 (Put in place EU level financial instruments to attract private finance); ii) Commitment 11 (Ensure cross-border operation of venture capital funds); iii) Commitment 12 (Strengthen cross-border matching of innovative firms with Investors); iv) Commitment 13 (Review State Aid Framework for Research, Development and Innovation). To this purpose, a review of both theoretical and empirical literatures about ’Innovation, Access to Finance and SMEs’ based on more than 80 scientific and other articles and analyses is presented. The paper provides an analysis of the main alternative financial instruments to bank loans, namely Risk-Sharing Facility Financing, Venture Capital, Business Angels and public subsidies. We found some evidence in the literature that Venture Capital could have a limited impact in enhancing innovation in the long- term and that some public support schemes could be more effective than other, depending on the firm’s maturity state.
Topic:
Development, Markets, European Union, and Research
Political Geography:
Europe and Global Focus

48. Assessing the Governance Practices of Sustainability Reporting

Author:
Jason Thistlethwaite and Melissa Menzies
Publication Date:
01-2016
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
To promote climate change risk mitigation in financial markets, the Financial Stability Board recently proposed the creation of a Climate Disclosure Task Force, coordinated through the G20, to develop standards for companies to disclose their exposure to climate change risks. With more than 400 existing disclosure schemes, this task will be challenging. This brief identifies the key categories of governance practices that must be addressed, how these divergent practices challenge end-users, and how the establishment of criteria that define effective and efficient reporting is a critical first step for the Climate Disclosure Task Force.
Topic:
Climate Change, Economics, Markets, and Financial Crisis
Political Geography:
Global Focus

49. A Deeper Look at China’s “Going Out” Policy

Author:
Hongying Wang
Publication Date:
03-2016
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
In recent years, the world has seen rapid growth in China’s financial reach beyond its borders. Following the announcement of a “going out” strategy at the turn of the century, many Chinese enterprises have ventured to invest and operate abroad. After three decades as primarily a recipient of foreign direct investment (FDI), China has now emerged as a major FDI-originating country as well. Much of China’s foreign aid is closely entangled with its outgoing FDI, and it has also been rising. Since 2013, the Chinese government has been pushing for a new One Belt, One Road (OBOR) initiative, aiming to connect China with countries along the ancient Silk Road and a new Maritime Silk Road via infrastructure investment. In addition, since 2009, China has actively promoted the internationalization of its currency, the renminbi (RMB). There has been a great deal of anxiety about the motivations behind China’s going out policy and its possible international consequences. Many view it as an expression of China’s international ambition and a strategy that threatens the existing international order; however, that is not the whole story. An equally important but often less understood issue is the role of China’s domestic politics and political economy in shaping its new activism in foreign financial policy. Moreover, it is unclear how successful the going out policy is. The complexity of China’s going out policy was the topic for a recent round table discussion hosted by the Centre for International Governance Innovation and the Foreign Policy Institute at the School of Advanced International Studies of Johns Hopkins University in Washington, DC.[1] Participants discussed a number of issues around two broad themes: the impact of domestic political economy on China’s foreign economic policy and the challenges for China’s external financial strategy — in particular, its OBOR initiative.
Topic:
Markets, Political Economy, Monetary Policy, Infrastructure, Foreign Direct Investment, and Financial Markets
Political Geography:
China

50. Canadian Trade Negotiations in an Era of Deep Integration

Author:
Patricia Goff
Publication Date:
02-2016
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
The Canada-European Union Comprehensive Economic and Trade Agreement (CETA) is noteworthy for the expanded role that Canadian provinces and territories played in the negotiation. In this particular instance, these sub-federal actors had a seat at the negotiating table at the request of their European Union partners. However, this paper argues that CETA is exceptional in this regard. Despite the fact that regional trade agreements increasingly contain provisions that relate to areas of provincial and territorial jurisdiction, each trade negotiation is distinct. The CETA experience should not create the expectation that provinces and territories will always participate in the same capacity. Any enhanced role will depend on the federal government’s strategic assessment of any specific trade negotiation.
Topic:
International Trade and Finance, Markets, Political Economy, Treaties and Agreements, and Regulation
Political Geography:
Canada and European Union