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61. Assessing the Governance Practices of Sustainability Reporting

Author:
Jason Thistlewaite 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 (FSB) 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 that employ a range of different standards to measure climate change risks and corporate sustainability, this task will be challenging. But the diversity of schemes also represents an opportunity to assess which practices are effective at improving corporate accountability for sustainability performance, as well as efficient at producing comparable reports that do not unfairly burden reporting organizations. 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 FSB and its Climate Disclosure Task Force.
Topic:
Climate Change, Energy Policy, Environment, Natural Resources, Governance, G20, Regulation, and Financial Markets
Political Geography:
Global Focus

62. 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

63. Assessing the Effects of the Multifibre Arrangement after Its Termination

Author:
John Whalley and Daqing Yao
Publication Date:
03-2016
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
The effects of the termination of the Multifibre Arrangement (MFA) on the trade of clothing and textiles are assessed in this paper, based on world trade date and US trade data. The findings from the data analyzed indicate that the effects of the termination of the MFA on the clothing trade was more significant for clothing than for the textiles trade. With the end of the MFA, the freer trade in these sectors shed light on other sectors that are still protected under trade agreements.
Topic:
International Trade and Finance, Markets, Treaties and Agreements, and Regulation
Political Geography:
Global Focus

64. Is Indonesia the Next China?

Author:
Wendy Dobson
Publication Date:
02-2016
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
This paper reviews Indonesia’s economic prospects and what these imply for a closer relationship with Canada. By posing the question “Is Indonesia the next China?,” the author suggests that Indonesia has the considerable economic potential envisaged by foreign investors, but conveys uncertainty as to whether Southeast Asia’s most populous country can make the changes necessary to realize that potential. A review of the economic record and comparison of China’s and Indonesia’s economic structures, endowments and institutions show major differences between the two countries. The paper further questions what it will take to realize Indonesia’s potential, finding the answers to be: human capital development; increased participation in the region’s global value chains; meeting the growing middle-class demand for modern services; raising productivity in agriculture and fishing; and increasing use of the Internet. Failure to make these changes will increase the chances of Indonesia’s growth in per capita incomes slowing and falling into the middle-income trap. Canada’s role will be to monitor closely how Indonesia tackles its five priorities at the same time as it responds to the opportunities to exploit Indonesia’s abundant natural resources, urbanization and its expanding consumer demand for modern services and educational opportunities.
Topic:
Economics, Emerging Markets, Human Welfare, International Trade and Finance, Natural Resources, and Regulation
Political Geography:
China and Indonesia

65. CETA and Financial Services: What to Expect?

Author:
Patrick Leblond
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 possibly the most ambitious regional free trade agreement that Canada and the European Union have negotiated so far. One of its main components is a chapter that seeks to liberalize trade and investment in financial services between Canada and the European Union, while ensuring that markets and their agents will be properly regulated and protected through prudential regulation. However, this chapter is unlikely to have a significant impact on the financial services sector in Canada and the European Union in the short and medium term. Although some observers fear that CETA might undermine the high quality of financial regulations in Canada or the European Union, this paper’s analysis demonstrates that such concerns are unfounded.
Topic:
International Trade and Finance, Markets, Treaties and Agreements, and Regulation
Political Geography:
Canada and European Union

66. Cooperation or Punishment. The Effects of Trust on Government Regulation and Taxation.

Author:
Niklas Harring and Victor Lapuente
Publication Date:
09-2016
Content Type:
Working Paper
Institution:
The Quality of Government Institute, University of Gothenburg,
Abstract:
For many economists government intervention is linked to low levels of interpersonal trust and corruption, while, on the contrary, for many political scientists, government intervention is associ- ated to high trust and low corruption. The goal of this paper is to reconcile these contrasting find ings by distinguishing the differing effects of trust over two alternative types of government intervention: regulation and taxation. Low-trust individuals demand more governmental regulation but less government taxation. We test the hypotheses by focusing on a particular policy – i.e. environmental policy – where governments use different mixes of regulatory and tax mechanisms, and for which we have data on both trust in others (interpersonal trust) and trust in public institutions (in- stitutional trust). The main finding is that those individuals with low trust (both interpersonal and institutional trust) tend to demand, ceteris paribus, more governmental regulation of the environ- ment and, but are less inclined to pay higher taxes to protect the environment. We also find that the effect of institutional trust is stronger than the effect of interpersonal trust, which puts previous studies in a perspective.
Topic:
Corruption, Government, Regional Cooperation, Regulation, and Political structure
Political Geography:
Global Focus

67. Renewable Energy in India: An Analysis of the Regulatory Environment and Evolving Policy Trends

Author:
Megha Kaladharan
Publication Date:
08-2016
Content Type:
Working Paper
Institution:
Centre for Policy Research, India
Abstract:
India emerged as a key player in the recent international climate talks in Paris. On the global stage, India reiterated its commitment towards clean energy and reducing carbon emissions.1 India’s increased thrust on renewable energy is outlined in the 2015 national budget, which set a five-fold increase in renewable energy targets to achieve 175 GW by 2022. This comprises 100 GW solar, 60 GW wind, 10 GW biomass and 5 GW small hydropower capacity, supported by a substantial budgetary allocation. The existing generation capacity is dominated by conventional coal-fired thermal power (211 GW as of May, 2016, 70% of total capacity). State distribution companies (Discoms) are by far the largest purchaser of electricity, including that from renewable energy sources. Therefore, the ability of the Discoms to purchase such power lies at the heart of the success of the national level directional shift from conventional to renewable power. However, presently, Discoms are reeling under massive debts and their actions are often dictated by local political factors rather than the achievement of operational and technical efficiency. Working towards the ambitious national renewable energy targets necessarily requires a revamp of the electricity distribution sector. Major legislative amendments and policy changes have been made and are underway at the central level to create an enabling environment for the nationwide growth of renewable energy. This paper proposes to analyse the existing constitutional and regulatory framework within which Discoms and other key stakeholders in the renewable power sector operate. The implications of the recently proposed amendments to the Electricity Act, 2003 (Electricity Act), the National Tariff Policy and provisions of the Draft Renewable Energy Act will be discussed in detail. A discussion on renewable energy is incomplete without an understanding of the legislative and judicial trends that govern the Renewable Purchase Obligation (RPO) imposed on Discoms. The paper offers an insight into the perspectives of Discoms, regulators and governments on RPO compliance. Further, the larger debate surrounding electricity sector reform and its implications for the renewable power sector have been analysed.
Topic:
Climate Change, Energy Policy, Regulation, and Renewable Energy
Political Geography:
South Asia, India, and Asia

68. Urban Sanitation in India – Why Brazil Matters

Author:
Anjali Chikersal and Aditya Bhol
Publication Date:
01-2016
Content Type:
Special Report
Institution:
Centre for Policy Research, India
Abstract:
Since the launch of the Swachh Bharat Mission in October 2014, sanitation issues in India are receiving immense attention from policymakers, media and civil society alike. The sector however received enormous funds even before this scheme with little positive results. This paper argues that the translation of the current hype into the right policies and practical schemes for amelioration of the poor conditions depends upon a complete rethinking of the entire approach to the issue. Brazil has gone through a series of transformations in the sector that provide a useful lens to India to examine the issue with. It will need similar radical changes, starting from recognition of sanitation as a basic human right to effective regulation, for India to begin to address this massive challenge.
Topic:
Human Rights, Infrastructure, Regulation, Social Policy, Urban, and Sanitation
Political Geography:
South Asia, India, Brazil, and South America

69. Developing a National Standard to Regulate the Operation and Management of Venture Capital Guiding Funds

Author:
Pangoal Institution
Publication Date:
12-2016
Content Type:
Special Report
Institution:
Pangoal Institution
Abstract:
Though National Development and Reform Commission, Ministry of Finance and Ministry of Commerce jointly released theGuiding Opinions on Guiding Funds in 2008 and local governments also issued relevant guiding opinions when they set up guiding funds, these guiding opinions lack the administrative regulations and concrete standards for the operation of venture capital guiding funds. The establishment and operation of the 40-billion-RMB Emerging Industry Venture Capital Guiding Fund will drive the new round of peak for the establishment of venture capital guiding funds in China. To better standardize the operation and management of guiding funds, improve the operation efficiency, and prevent through systems rent-seeking behaviors such as connected transactions and inbreeding, it is imperative to formulate a national standard for guiding funds.
Topic:
Regulation, Investment, Capital, and Venture Capital
Political Geography:
China and Global Focus

70. Does EU Regulation Hinder or Stimulate Innovation?

Author:
Jacques Pelkmans
Publication Date:
01-2015
Content Type:
Working Paper
Institution:
Institute for Development and International Relations (IRMO)
Abstract:
‘Does EU regulation hinder or stimulate innovation’ is a frequently heard query in the EU, but there is little systematic analytical literature on the issue. Fragmented evidence or anecdotes dominate debates among EU regulatory decision-makers and in European business, insofar as there is a genuine debate at all. This text focuses on the multi-faceted, ambiguous and complex relationship between (EU) regulation and innovation in the economy, and discusses the innovation-enhancing potential of certain regulatory approaches as well as factors that tend to reduce incentives to innovate. We adopt an 'ecosystem' approach to both regulation and innovation and study the interactions between the two ecosystems. This general analysis and survey are complemented by seven case studies of EU regulation enabling and disabling innovation, two horizontal and five sectoral ones. The case studies are preceded by a broader contextual analysis of trends in EU regulation over the last three decades. These trends show the significant transformation of the nature as well as improvement of the quality of EU regulation, largely in the deepened internal market, which tend to have a favourable and lasting effect on the rate of innovation in the EU (other things being equal). Our findings include the following: Regulation can at times be a powerful stimulus to innovation. EU regulation matters at all stages of the innovation process. Different types of regulation can be identified in terms of innovation impact: general or horizontal, innovation specific and sector-specific regulation. More prescriptive regulation tends to hamper innovative activity, whereas the more flexible EU regulation is, the better innovation can be stimulated. Lower compliance and red-tape burdens have a positive effect on innovation. We recommend incorporating a specific test on innovation impacts in the ex-ante impact assessment of EU legislation as well as in ex-post evaluation. There is ample potential for fostering innovation by reviewing the EU regulatory acquis.
Topic:
European Union, Regulation, and Financial Markets
Political Geography:
Europe