Perhaps the most popular of all Institute products, the Working Papers are now available for the first time in a print format. These papers contain the preliminary results of ongoing Institute research. The book is divided into four sections: Trade and The Global Economy; Outsourcing; Asia; and the Middle East. Volume 1 contains papers from 2005. Future volumes will be published on a semi-regular schedule as material is available.
China has emerged as an economic powerhouse with an increasing role on the world stage. China's Rise will help the United States comprehend the facts and dynamics underpinning China's rise--an understanding that becomes more imortant with each passing day. Filled with facts for policymakers, this much-anticipated book's accessible style will also appeal to the general reader through its relevant discussion of China's foreign policy, military modernization, economic growth, and energy and the environment.
The turmoil in financial markets that resulted from the 2007 subprime mortgage crisis in the United States indicates the need to dramatically transform regulation and supervision of financial institutions. Would these institutions have been sounder if the 2004 Revised Framework on International Convergence of Capital Measurement and Capital Standards (Basel II accord)—negotiated between 1999 and 2004—had already been fully implemented? Basel II represents a dramatic change in capital regulation of large banks in the countries represented on the Basel Committee on Banking Supervision: Its internal ratings–based approaches to capital regulation will allow large banks to use their own cre...
Conflicts over currency valuations are a recurrent feature of the modern global economy. To strengthen their international competitiveness, many countries resort to buying foreign currencies to make their exports cheaper and their imports more expensive. In the first decade of the 21st century, for example, China's currency manipulation practices were so flagrant that they produced a backlash in the United States and other trading partners, prompting threats of retaliation. How damaging is the practice of currency manipulation—and how extensive is the problem? This book by C. Fred Bergsten and Joseph E. Gagnon—two leading experts on trade, investment, and the effects of currency manipulation—traces the history, causes, and effects of currency manipulation and analyzes a range of policy responses that the United States could adopt. The book is an indispensable guide to a complex and serious problem and what might be done to solve it.
The Doha Round marked its eighth birthday in November 2009, making it the longest running multilateral trade negotiation in the postwar era. Doha participants continue to disagree about prospective liberalization of agriculture and manufactures and have barely begun to consider reductions in barriers to trade in services. Negotiators have missed every deadline to conclude the talks, leading some to question the viability of the entire venture. After nearly nine years of inconclusive meetings, the trade talks are at a tipping point: A global trade deal is still possible with renewed political commitment to trade reform, but continued drift could result in the first outright failure of a multi...
Economic sanctions continue to play an important role in the response to terrorism, nuclear proliferation, military conflicts, and other foreign policy crises. But poor design and implementation of sanctions policies often mean that they fall short of their desired effects. This landmark study, first published in 1985, delves into the rich experience of sanctions in the 20th century to harvest lessons on how to use sanctions more effectively. This volume is the updated third edition of this widely cited study. It chronicles and examines 170 cases of economic sanctions imposed since World War I. Fifty of these cases were launched in the 1990s and are new to this edition. Special attention is paid to new developments arising from the end of the Cold War and increasing globalization of the world economy. Analyzing a range of economic and political factors that can influence the success of a sanctions episode, the authors distill a set of commandments to guide policymakers in the effective use of sanctions.
In the decades before the global financial crisis struck in 2007, economic policymakers kept to the primary goal of containing inflation and public deficits. Today, after years of sluggish economic recovery, the time has come for that prevailing consensus to give way to a new strategy of monetary stimulus to spur economic growth and encourage risk-taking by investors. In this book, �ngel Ubide surveys the actions taken by central banks after the crisis and draws lessons from the unpredictable interaction of markets, countries, and financial institutions. He concludes that fear of another crippling crisis has caused central banks to become dangerously risk-averse and overly complacent about dampened economic growth. He advances the provocative thesis that monetary policymakers, accustomed to a "boring" role in managing economies, must now leave their "comfort zone" and embrace risk as a necessary requirement for growth.