Policy Briefs

Drawing on CIGI-sponsored research, this policy brief discusses the potential effects of unexpected US news events on global capital flows. It then identifies the countries that are most vulnerable to global financial volatility and discusses the role of the Group of Twenty in facilitating a stronger and more resilient global economy.

In April 2015, the United States will assume the chairmanship of the Arctic Council, and its focus on climate change must be complemented by efforts to further advance sustainable economic development. The credibility and relevance of the Arctic Council is at stake — leadership is needed to establish a long-term vision, strengthen the council’s governance model and work with all stakeholders to tackle the substantial policy challenges that the region faces.

In September 2014, the UN General Assembly passed Resolution 63/304, which expressed the will of many member states to move toward the development of a multilateral framework for sovereign debt restructuring.

This policy brief draws on a joint workshop with Columbia University on Frameworks for Sovereign Debt Restructuring, held in New York on November 17, 2014. It narrows in on a specific set of salient issues that affect debt restructuring processes and outcomes: those related to inter-creditor and creditor-debtor equity. It also offers a few policy considerations for beginning to resolve these issues in ways that contribute to fairer and more effective debt restructurings.

Of all the reforms launched by this most conservative of Conservative governments, none surpass the root-and-branch restructuring of Canada’s immigration polices. And what has come before does not equal what is to come. On January 1, 2015, the federal government will replace the points system used to select immigrants for nigh on 50 years with the entirely new Express Entry program. The goal is to better align the abilities of immigrants to the needs of the Canadian economy. Well-educated, fluent in English or French or both, self-reliant, able to fit seamlessly into the workforce without need of government assistance — these “bootstrap immigrants,” as they could be called, might also be inclined to vote Conservative.

Sub-Saharan African smallholder farmers face numerous agricultural obstacles — such as climate change and the environment, corporate commodification of food and unpredictable political environments — and farmers are finding it difficult to sustain agricultural livelihoods and output. The international community currently approaches these obstacles through biotechnology, a temporary solution that contributes to the overarching issues of food security.

Launched in 2009, the Northern Pass Transmission Project is meant to carry electricity from Quebec to the New England grid by way of New Hampshire. The project is in a political deadlock, however, because alternative methods have not been investigated and New Hampshire bears major economic, social and ecological costs while receiving few benefits from the proposed transmission line.

The 2014 Beijing APEC summit, taking place on November 10-11, provides leaders with the opportunity to respond to worries about APEC’s relevance by pledging to add members in 2015. This policy brief examines the recent history of India's exclusion from APEC and argues that it must be among the new members in 2015.

The annual CIGI Survey of Progress in International Economic Governance assesses progress in four dimensions of international economic governance: macroeconomic and financial cooperation; cooperation on financial regulation; cooperation on trade; and cooperation on climate change.

Elevated political tensions in Northeast Asia have the possibility of spilling over into a larger military conflict. The authors of this Junior Fellows brief recommend that there be high-level talks regarding North Korean denuclearization between China, Japan, the United States and South Korea.