China's Long March Toward Economic Rebalancing

April 1, 2014
CIGI Policy Brief No. 38
After more than three decades of sustained economic growth, China has become the second-largest economy in the world. Chinese policies and behaviour have come to shape the global economy in profound ways and what China does, or does not do, at home and abroad often has broad implications for the rest of the world.

The IMF’s Preferred Creditor Status: Does It Still Make Sense After the Euro Crisis?

March 20, 2014
CIGI Policy Brief No. 37
Throughout the history of IMF lending, the institution has had preferred creditor status (PCS) — that is, distressed countries borrowing from the IMF are expected to give priority to meeting their obligations to the IMF over those to other (private or official) creditors.

Central Bank Independence in North Africa

March 17, 2014
CIGI Policy Brief No. 36
Securing central bank independence (CBI) has become best practice in global governance. Both the political and economic literatures suggest that CBI facilitates price stability, promotes transparency to citizens and provides accountability toward the public good. The impact of the Arab uprisings seems to have provided the necessary push for securing CBI in the North African region.

A Failure to Cooperate? Raising the Risks and Challenges of Exiting Unconventional Monetary Policies

March 14, 2014
CIGI Policy Brief No. 35
In an environment where trade and finance are globalized, it is imperative that stabilization policies do not harm the global economy. When the global financial crisis (GFC) erupted in 2008-2009, China was driving global economic growth and emerging markets helped soften the economic downturn. Now, these economies are slowing down, in part, as a consequence of the largest advanced economies seeking to exit unconventional monetary policies.

Shifting IMF Policies since the Arab Uprisings

March 6, 2014
CIGI Policy Brief No. 34
Bessma Momani and Dustyn Lanz
In the aftermath of the Arab uprisings, the IMF has treated Egypt, Morocco and Tunisia differently than it had in previous years. Since the uprisings, the IMF has focussed more sharply on the social dimensions of its macroeconomic policy advice in these countries.

Reforming Finance: Macro and Micro Perspectives

February 10, 2014
CIGI Policy Brief No. 33
Although there was great optimism about prospects for reforming finance in the immediate aftermath of the global financial crisis of 2008-2009, the expectation that lessons learned from the past would translate into meaningful reforms were quickly dashed.

More Inclusive Decision-making Processes in Foreign Land Leasing: Policy Insights from Kenya

February 6, 2014
Africa Initiative Policy Brief No. 8
David Jakinda Otieno
While global foreign land leasing does result in key development benefits for people in the host countries, such benefits can only be realized if the deals are structured in a more participatory and transparent manner — an aspect that is often missing.

Hot Air, Guilt and Arbitration

January 31, 2014
CIGI Policy Brief No. 32
The United Nations Framework Convention on Climate Change (UNFCCC) divides countries into two groups. “Annex 1” includes the rich industrialized countries as well as economies in transition.

Climate Change, a Dead Horse and Realpolitik

December 16, 2013
CIGI Policy Brief No. 31
The United Nations Framework Convention on Climate Change negotiation process on climate finance has become the dead horse that climate negotiators will not stop flogging. Twenty years of effort has brought very limited action. Substantive results on dealing with the climate change problem could be achieved if the focus was on issues for which cooperation and collective action are possible.

Black Swans/White House: Why JFK Matters a Half Century After Dallas

November 4, 2013
CIGI-BSIA Policy Brief No. 5
James Blight and janet M. Lang
In the latest CIGI-BSIA policy brief, James G. Blight and janet M. Lang examine John F. Kennedy’s (JFK’s) cautious skepticism — his “Black Swan logic”— which he used to scrutinize the potentially disastrous consequences of US military intervention.