John Whalley PublicationsJohn Whalley Publications
The Return of Financial Instability: What It Means for the Major Emerging Economies
How will the major emerging economies of Brazil, China and India be affected by the current wave of financial instability? Lower stock prices in the United States and Europe have lowered growth expectations in all three of these countries, along with their stock prices. Higher interest rates due to the higher default risk in OECD countries also affect them. The volatility that has affected stock markets in these three economies is, therefore, the same as it is elsewhere. But will the instability spread more widely within their financial sectors and economies more broadly, impairing their growth performance?
Can the WTO Help China With Its Future Trade Policy Challenges?
Since its accession to the World Trade Organization (WTO) in 2001, China's growth and development has built heavily on its increasing integration into the global economy. Export growth in the three years prior to the 2008 financial crisis was nearly 30 percent. Although its export growth was negative during the crisis, China has since rebounded to pre-crisis rates and it is now the world's second-largest trading country after the United States.
The G20 Agenda and Process: Analysis and Insight by CIGI Experts
These 21 CIGI commentaries analyze the policy issues and debates under discussion in 2010 that are still relevant to the ongoing G20 agenda under the French presidency and the G20’s aspirations for the future.
China, the Developing Countries and the G20
The G20 presents opportunities and poses challenges for China and other developing countries. As new partners at the global table, they can both raise and pursue issues in the medium to longer term that are central to their continued growth and development. Furthermore, China can be expected to be at the centre of negotiations on reshaping of the international governance system. With strong economic links to both developed and developing countries, and a strong interest in a well-functioning international economic system, it can play a pivotal role in determining the outcome.
Approaches to Fostering Productivity Growth in Brazil, China and India
Productivity growth is a significant contributor to GDP growth, particularly to increases in per capita income. However, there is considerable ambiguity regarding how to measure the concept of technical progress, and consequently on policies that would foster productivity growth. Brazil, China and India, three important emerging economies, are seeking to foster productivity growth through encouraging innovation and technology transfers from the more developed economies. But given the ambiguities about how to encourage innovation and technology transfers, governments in these countries adopted a plethora of policies in the hope that the combination will be effective.
Is the Copenhagen Accord Really “Nopenhagen”?
Dubbed "Nopenhagen," the Copenhagen Accord reached at the eleventh hour has been criticized by many as not going far enough. But CIGI Distinguished Fellow Johan Whalley sees it as an historic and landmark document in the emerging economic architecture of the twenty-first century.
Bridging the North-South Divide on Climate Post-Copenhagen
This policy brief asserts that the North-South divide is perhaps the most important hindrance to reaching an agreement at the UN Framework Convention on Climate Change (UNFCCC) being held in Copenhagen in December 2009. According to the authors, movement across this divide will be necessary to reach a deal; however, the likelihood of a significant agreement, even post-Copenhagen, is unclear despite the current political momentum.
Environmental Sustainability and the Financial Crisis: Linkages and Policy Recommendations
As the global economic crisis and nascent recovery continue to unfold, it is important not to lose sight of the environment amid fiscal stimulus efforts and economic reorientation. Economic prosperity cannot be pursued at the expense of environmental sustainability. Long-term economic prosperity requires a strong and healthy ecosystem at its base. This publication highlights unique challenges and opportunities for policy makers in the face of the current economic crisis.
The Effect of the World Financial Crisis on Developing Countries: An Initial Assessment
CIGI has formed a task force of eminent economists to study and offer solutions for the devastating effects of the current financial crisis on developing and transition economies. This first statement by the task force briefly outlines the nature of the crisis for developing countries and suggests in general terms a strategy for a way forward.
Issues, Obstacles and Outlook for the Copenhagen International Climate Change Negotiation
In this policy brief, Distinguished Fellow John Whalley and Research Assistant Sean Walsh assess some of the critical issues and obstacles standing in the path of a successful conclusion to the December 2009 climate change negotiation in Copenhagen.