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17601. Central Banks in Times of Crisis: The FED vs. the ECB

Author:
Daniel Gros, Cinzia Alcidi, and Alessandro Giovannini
Publication Date:
07-2012
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies
Abstract:
Different economic and financial structures require different crisis responses. Different crises also require different tools and resources. The first 'stage' of the financial crisis (2007-09) was similar on both sides of the Atlantic, and the response was also quite similar. The second stage of the crisis is unique to the euro area. Increasing financial disintegration within the region has forced the ECB to become the central counterparty for the entire cross-border banking market and to intervene in the sovereign bond market of some stressed countries. The actions undertaken by the European Central Bank (ECB), however, have not always represented the best response, in terms of effectiveness, consistency and transparency. This is especially true for the Securities Markets Programme (SMP): by de facto imposing its absolute seniority during the Greek PSI (private sector involvement), the ECB has probably killed its future effectiveness.
Topic:
Debt, Economics, International Trade and Finance, Markets, Monetary Policy, and Financial Crisis
Political Geography:
Europe

17602. BRICS: The new Syndicate

Author:
Gateway House
Publication Date:
09-2012
Content Type:
Special Report
Institution:
Gateway House: Indian Council on Global Relations
Abstract:
This bi-annual report includes features written exclusively (unless mentioned otherwise) for Gateway House: Indian Council on Global Relations by various contributors, and Gateway House staff, from January-July 2012.
Topic:
Global Political Economy
Political Geography:
Russia, China, India, and Brazil

17603. Qatar’s Natural Sustainability: Plans, Perceptions, and Pitfalls

Author:
Mari Luomi
Publication Date:
12-2012
Content Type:
Research Paper
Institution:
Center for International and Regional Studies: CIRS
Abstract:
Growth in Qatar in the past decade has been tremendous: the total population has increased by one million and the economy has grown four-fold, leading to the skyrocketing of energy and water demand and greenhouse gas emissions.2 This research paper argues that a crucial question in need of answering is: how important is the environment for Qatar? Fast growth in population and natural resource consumption, together with a pronounced emphasis on economic growth, have had devastating impacts on the country’s environmental and sustainability performance. Recently ranked as the country with the world’s highest ecological footprint,3 Qatar urgently needs to balance its natural resource use with the local environmental and ecosystem limits so as to ensure prosperity for its people and the environment far into the future. The same question applies to Qatar’s neighboring monarchies, which share very similar economic and demographic dynamics as well as similar political and climatic conditions.
Topic:
Environment and Climate Finance
Political Geography:
Qatar

17604. Financial Development and Economic Growth in the Mediterranean Associated Countries

Author:
Adolfo Barajas and Seyed Reza Yousefi
Publication Date:
09-2012
Content Type:
Policy Brief
Institution:
IEMed/EuroMeSCo
Abstract:
Slow growth in the Mediterranean Associated Countries (MEDA) over the past three decades can be partly traced to underperformance by the financial sector. Several countries in the region lack financial depth, and the region as a whole has not fully benefited from the level of banking intermediation on offer, signaling a “quality gap.” Policy should therefore aim to enhance banking competition by removing entry barriers and improving credit information, reduce the role of state banks, further the process of financial reform, and provide a financial infrastructure conducive to bank and financial market development. Moreover, quality of intermediation appears to be related to access, and MEDA countries have also underachieved in terms of providing access to financial services to large segments of the population, in particular, to small and medium-sized enterprises. Efforts to widen access should also lead to improvements in quality and, ultimately, higher longrun growth.
Topic:
International Affairs
Political Geography:
Mediterranean

17605. Economic Agendas of Islamic Actors

Author:
Javier Albarracín and Paula Cusi
Publication Date:
09-2012
Content Type:
Policy Brief
Institution:
IEMed/EuroMeSCo
Abstract:
The IEMed held a conference on the 3rd and 4th July 2012 in Barcelona, under the title “Emerging New Economic Policy Makers in the Arab Mediterranean: Economic Agendas of Islamic Actors”. The aim of the conference was to engage Islamic economic actors, and get to know their economic proposals better. Members of the Islamic parties of Morocco, Tunisia and Egypt attended, as well as bankers, businessmen and representatives of Islamic economic associations from the region. Experts were also invited from institutions such as the European Bank of Reconstruction and Development (EBRD), the European Investment Bank (EIB), the European Commission, the Organization of Economic Co-operation and Development (OECD), the Central Bank of Spain, and so on. The seminar was split into three parts. The first part analyzed at a national level the economic challenges and necessary reforms in Morocco, Tunisia and Egypt. The other two sessions were dedicated to Islamic finance and banking, followed by an analysis of the economic cooperation in the Euro-Mediterranean region and among international Islamic actors.
Topic:
International Affairs
Political Geography:
Spain

17606. Euro-Mediterranean Higher Education Area: Enhancing Quality, Promoting Mobility and Employability

Author:
Nick Harris and Javier Albarracín
Publication Date:
09-2012
Content Type:
Policy Brief
Institution:
IEMed/EuroMeSCo
Abstract:
This paper results from a European Institute of the Mediterranean (IEMed)/National Agency for Quality Assessment and Accreditation of Spain (ANECA) Conference held in Barcelona 23rd May 2011 on enhancing quality, promoting mobility and employability across the Euro-Mediterranean Higher Education Area. At a time when there is considerable change and uncertainty in almost all parts of the Euro-Med region, the conference discussions ranged across the nature and purposes of higher education, particularly in relation to employability and employment, and the benefits of and barriers to mobility for both students and academic staff. It also sought to identify the most effective ways in which the Union for the Mediterranean (UfM) could contribute to further developments in higher education, bearing in mind the diversities and uncertainties that currently exist at social, political, and economic levels as well as in educations terms
Topic:
International Affairs
Political Geography:
Mediterranean

17607. Inflection Point: The Australian Defence Force after Afghanistan

Author:
Alan Dupont
Publication Date:
03-2012
Content Type:
Policy Brief
Institution:
Lowy Institute for International Policy
Abstract:
In every era there are inflection points which require long-established institutions to re-evaluate their goals, strategy, structure and resource allocations to ensure their future health and relevance. The Australian Defence Force (ADF) is no exception.
Topic:
International Affairs
Political Geography:
Australia

17608. The 2012 National Elections in Papua New Guinea: Averting Violence

Author:
Scott Flower
Publication Date:
03-2012
Content Type:
Policy Brief
Institution:
Lowy Institute for International Policy
Abstract:
The 2012 general elections in Papua New Guinea are likely to be marred by violence. The increased financial bounty at stake, the enhanced value of political office, the proliferation of weapons, and pressures on PNG’s Electoral Commission, Defence Force and police combine to highlight security concerns around the elections, particularly in the Highlands provinces.
Topic:
International Affairs
Political Geography:
Papua New Guinea

17609. The Smart Power Capability Requirements of Australia as a Middle Power

Author:
Ian Dudgeon and Melissa Conley Tyler
Publication Date:
02-2012
Content Type:
Working Paper
Institution:
Australian Institute of International Affairs
Abstract:
The Australian Institute of International Affairs (AIIA) held a one-day seminar in Canberra on 15 February 2012 entitled The Smart Power Capability Requirements of Australia as a Middle Power. The aims of the seminar were to discuss the concept of smart power in the context of Australia as a middle power, identify Australia’s smart power capability requirements across the peace/conflict spectrum and report its findings to government.
Topic:
International Affairs
Political Geography:
Australia

17610. Emerging Scholars

Author:
Melissa Conley Tyler
Publication Date:
12-2012
Content Type:
Special Report
Institution:
Australian Institute of International Affairs
Abstract:
The Australian Institute of International Affairs (AIIA) was established in 1924 to promote public understanding and interest in international affairs. The AIIA works actively to engage young people in its work including through young professionals’ networks, careers fairs, schools events, internships, mentoring and the Young Diplomats Program
Topic:
International Relations and International Affairs
Political Geography:
Australia