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A. TRADE AND INVESTMENT PUBLICATIONS
Capital regulation and banks’
financial decisions. July 2007.
Available online (PDF-Format, 46 pages,
420 KB). Working Paper No 232, Bank of International
Settlements (BIS).
This paper develops a stochastic dynamic
model to examine the impact of capital regulation
on banks' financial decisions. In equilibrium,
lending decisions, capital buffer and the
probability of bank failure are endogenously
determined. Compared to a flat-rate capital
rule, a risk-sensitive capital standard
causes the capital requirement to be much
higher for small (and riskier) banks and
much lower for large (and less risky) banks.
Nevertheless, changes in actual capital
holdings are less pronounced due to the
offsetting effect of capital buffers. Moreover,
the non-binding capital constraint in equilibrium
implies that banks adopt an active portfolio
strategy and hence the counter-cyclical
movement of risk-based capital requirements
does not necessarily lead to a reinforcement
of the credit cycle. In fact, the results
from the calibrated model show that the
impact on cyclical lending behavior differs
substantially across banks. Lastly, the
analysis suggests that the adoption of a
more risk-sensitive capital regime can be
welfare-improving from a regulator's perspective,
in that it causes less distortion in loan
decisions and achieves a better balance
between safety and efficiency.
Accessed on 1 August < http://www.bis.org/publ/work232.pdf
>
Climate Change, Competitiveness
and Trade. June 2007. Available
online (PDF-Format, 41 pages, 204 KB). Chatham
House Report.
From the outset the Kyoto Protocol and the
United Nations Framework Convention on Climate
Change have had to contend with perceived
tension between effective action to slow
climate change and maintenance of competitiveness.
This report explores the nature of the concerns
over competitiveness, trying to dissect
them in a meaningful way and assess the
need for concern. It employs a definition
of competitiveness that applies as between
firms, as opposed to any general notion
of the competitiveness of nations. Two types
of competitiveness concerns are identified
and addressed. The first – the ‘non-Party
problem’ – is that implementation
may create an uneven playing field, with
firms and sectors from non-Parties enjoying
an unfair advantage because they are not
subject to carbon constraints. The second
– the ‘implementation problem’
– is that Parties may create unfair
competitive advantages for domestic industry
by the manner in which they implement their
Kyoto commitments.
Accessed on 1 August < http://www.iisd.org/pdf/2007/climate_trade_competitive.pdf
>
Democracy and the GATT/WTO Accession
Duration. April 2007. Available
online (PDF-Format, 51 pages, 270 KB).
School of Economics and Finance, University
of Hong Kong; and China Center for Economic
Research, Peking University.
Recent studies have suggested that accession
to GATT/WTO is a complex, difficult, and
lengthy process, and such process has
lengthened in recent years. Using survival
analysis, the authors find that the applicant's
political regime, together with several
other variables, has a significant impact
on the time it takes to accede to GATT/WTO.
In particular, the authors find that the
accession duration is likely shorter for
an applicant whose political regime is
more democratic, whose economy is larger,
whose economy grows faster, who initiated
its accession before 1995, who adopts
a fixed exchange rate regime, who is not
a least developed country; and that it
increases with the size of GATT/WTO.
Accessed on 31 July < http://ssrn.com/abstract=982032
>
Development and Intellectual
Property under the EPA Negotiations.
March 2007. Available online (PDF-Format,
8 pages, 3.2 MB). Policy Brief No. 6,
South Centre.
This paper argues that the negotiations
for Economic Partnership Agreements (EPA)
between the European Union (EU) and the
African Caribbean and Pacific (ACP) countries
are likely to result in additional layers
of intellectual property right protection,
at least in the case of the agreement
with Caribbean ACP States. They review
the ongoing negotiations and various draft
texts and papers and find an inadequate
focus on the need for technological development,
promotion of public health, protection
of genetic resources and traditional knowledge
as well as for ensuring access to knowledge.
The authors suggest that considering the
level of economic development in ACP countries,
the negotiations should not include IP
rights as part of the partnership agreement.
Instead they should focus on industrial
and technological development and aim
to address the longstanding issues on
various EU policies that have impeded
participation of the ACP countries in
the value-chain of products, protection
of biodiversity and traditional knowledge
and the use of TRIPS flexibilities.
Accessed on 1 August
< http://www.southcentre.org/info/policybrief/06Dev_IP_EPA_Negotiations.pdf
>
Global Imbalances: Time for Action.
March 2007. Available online (PDF-Format,
8 pages, 225 KB). Policy Brief No. PB07-4,
Peterson Institute.
This policy brief argues that one of the
principal dangers currently facing the
world economy arises from the large and
unsustainable imbalances in current account
positions. Some observers argue that these
imbalances will unwind gradually and non-disruptively,
while others emphasize the risks of a
sudden change of sentiment in financial
markets that could result in an abrupt
and damaging adjustment. A priority for
policymakers should be to reduce the risks
of a crisis, which could produce a world
recession and disruptions to the global
trading system. For that, the global economy
requires official sponsorship of a credible,
comprehensive adjustment programme. This
policy brief outlines such a programme.
It presents why the current situation
is unsustainable and that adjustment must
take place and will require significant
movements in exchange rates. It argues
that adjustment induced by policy actions
is more likely to be orderly than one
initiated by financial markets. The authors
view the current stalemate regarding policy
actions as dangerous, as financial-market
participants are likely to change their
minds at some stage about the sustainability
of imbalances unless they see that the
main players are able to agree on the
direction of desirable policy changes.
The paper also presents estimates of the
exchange rate implications of global current
account adjustment from a variety of models
and describes the policy implications
the authors drew from these results and
workshop discussions.
Accessed on 31 July < http://www.iie.com/publications/pb/pb07-4.pdf
>
Inclusive Growth toward a Prosperous
Asia: Policy Implications. July
2007. Available online (PDF-Format, 43
pages, 772 KB). ERD Working Paper No.
97, Economics and Research Department,
Asian Development Bank (ADB).
Developing Asia is embracing inclusive
growth as a key development goal in response
to rising inequalities and increasing
concern that these could undermine the
very sustainability of Asia’s growth.
This paper argues that inclusive growth
emphasizes creation of and equal access
to opportunities; and that unequal opportunities
arise from social exclusion associated
with market, institutional and policy
failures. A development strategy anchored
on inclusive growth is outlined, consisting
of two mutually reinforcing strategic
pillars of high and sustainable growth
to create economic opportunities, and
social inclusion to ensure equal access
to opportunities. This will enable developing
Asia to accomplish the agenda of eradicating
extreme poverty and, at the same time,
address the development challenge brought
about by rising inequalities.
Accessed on 31 July <
http://www.adb.org/Documents/ERD/Working_Papers/WP097.pdf
>
OECD Agricultural Trade Reforms.
Impact on India’s Prices and Producers
Welfare. July 2007. Available
online (PDF-Format, 51 pages, 495 KB).
Working Paper No. 195, Indian Council
for Research on International Economic
Relations (ICRIER).
This paper argues that given the focus
on global agriculture in the Doha Round,
it is timely to look into the impact of
global trade liberalization on prices,
production of major crops and farmers’
welfare in India. Domestic price support
and export subsidies by the United States
and Europe have kept the world prices
of agricultural products below the cost
of its production. The paper examines
the impact of prevailing subsidies and
of import trade tariffs in India and finds
that even if product specific subsidies
are reduced or eliminated, the price transmission
mechanism is so poor that it will be difficult
to pass it on to the farmers. As part
of the study, simulations to assess the
net impact of trade liberalization have
been carried out, i.e. abolition of subsidies
and lowering of import tariff rates. The
paper also tries to emphasize the impact
of trade liberalization on domestic prices
and how these changes in agricultural
prices may affect the poor farmer.
Accessed on 1 August < http://www.icrier.org/pdf/WorkingPaperNo195.pdf
>
Ten Years After: Financial Crisis
Redux or Constructive Regional Financial
and Monetary Cooperation? June
2007. Available online (PDF Format, 27
pages, 380 KB). Philippine Institute for
Development Studies (PIDS).
In response to the 1997 East Asian financial
crisis many schemes were initiated to
reform the international financial architecture.
The proposed reforms had two wide-ranging
objectives: (i) to prevent currency and
banking crises and better manage them
when they occur; and (ii) to support adequate
provision of net private and public flows
to developing countries, particularly
low-income ones. Unfortunately the progress
has been uneven, asymmetric and patchy.
This is largely because the structural
problems related to the supply side of
capital flows have not been addressed,
particularly the unipolar character of
the global financial system. As a result,
many East Asian economies face many of
the same conditions that prevailed immediately
prior to the crisis: huge capital inflows
heavily tilted toward hot money, rapid
appreciation of currencies in real terms,
surging stock prices, and little policy
space to implement countercyclical measures
in the event of a crisis. The difference
is that many countries have accumulated
a large amount of foreign exchange reserves
but at the expense of domestic investment
and economic growth. In order to resolve
the problems that are posed by volatile
capital flows it is important to accelerate
East Asian cooperation and integration,
particularly with regard to the objective
of using regional savings for regional
infrastructure projects
Accessed on 1 August < http://dirp4.pids.gov.ph/ris/dps/pidsdps0705.pdf
>
The EU-ACP Economic Partnership
Agreements. What Impact on Development?
June 2007. Available online (PDF-Format,
29 pages, 780 KB). Discussion Paper No.
224, Institute for International Integration
Studies (IIIS).
The European Union is currently concluding
negotiations for Economic Partnership
Agreements with 77 developing countries
in the African, Caribbean and Pacific
(ACP) regions. The dilemma at the heart
of those negotiations is how to reconcile
the goal of poverty reduction and development
with the substantial trade liberalization
involved. ACP counties have become marginalized
in world trade over the past three decades
while at the same time they have adopted
outward–oriented trade policies
and their economies have become increasingly
open. The paper argues that further trade
liberalization is unlikely to contribute
much to development in any major way.
Instead ACP countries should focus on
domestic growth strategies. Each ACP region
should identify its own priority growth
sectors and adapt its own specific growth.
Accessed on 31 July < http://www.tcd.ie/iiis/documents/discussion/pdfs/iiisdp224.pdf
>
Trade Facilitation in Selected
Landlocked Countries in Asia.
July 2007. Available online (PDF-Format,
164 pages, 4.8 MB). Studies in Trade and
Investment Nr. 58, United Nations Economic
and Social Commission for Asia and the
Pacific (ESCAP).
Over the past two decades, many countries
in the ESCAP region underwent extensive
political and economic transformations
as borders opened and states joined the
world economy. The newly independent states
in the Caucasus and Central Asia in particular,
have experienced major structural changes
with the transformation from a centrally-planned
to a market-oriented economic system.
With no direct access to the sea and to
the world’s major markets, transformation
and economic development have been particularly
challenging for landlocked countries.
These countries have put great effort
into liberalizing their trade regimes
and upgrading physical infrastructure.
Despite these efforts, market access for
landlocked countries is still hampered
by bottlenecks to trade, such as cumbersome
and non-transparent trade and customs
procedures. Implementation of trade facilitation
reform programmes and measures is therefore
becoming an increasingly important tool
for establishing a more transparent, consistent
and predictable environment for international
trade in landlocked countries. This study
aims at increasing the understanding of
the specific trade facilitation issues
and conditions in Armenia, Azerbaijan,
Kazakhstan, Kyrgyzstan, Mongolia, Tajikistan
and Uzbekistan, countries in which ESCAP
undertook advisory missions during the
period of 2003 - 2006. It is hoped that
this study will build upon the accomplishments
of the advisory missions and serve Governments
and traders alike as a background document
supporting domestic trade facilitation
reforms.
Accessed on 23 July <
http://www.unescap.org/tid/publication/tipub2437.pdf
>
B. SELECTED WORLDWIDE WEBSITES
http://acp-eu-trade.org
ACP-EU Trade Website
E-mail: acpeutrade@ecdpm.org
The ACP-EU trade website is a non-partisan
sourcing and knowledge sharing initiative.
It contains a wide range of information
and analysis relevant to trade between the
EU and the ACP Group, the group of 77 countries
from the African, Caribbean and Pacific
region. Materials on the website include
a library database of more than 2,000 documents;
more than 150 links to key ACP-EU websites;
weekly news items, newsletters and monthly
news digests on ACP-EU trade agenda; trade
negotiations insights; a public database
of trade and development experts; events
calendar; dossiers pages; a glossary and
more.
http://www.asean-tourism.com/
ASEAN tourism
ASEAN tourism is a gateway to tourism-related
information on the countries of the Association
of Southeast Asian Nations which consists
of Brunei Darussalam, Cambodia, Indonesia,
Lao People’s Democratic Republic,
Malaysia, Myanmar, Philippines, Singapore,
Thailand and Viet Nam. It provides country
information, links to relevant literaure,
travel updates, maps, photos, contact
addresses to all national tourist authorities,
etc.
http://devdata.worldbank.org/atlas-mdg/
Building a Better World Website
The Building a Better World website is
an online atlas of the Millennium Development
Goals, which provide a framework for development
planning for countries around the world,
and time-bound targets by which progress
can be measured. The website was developed
by the World Bank in collaboration with
Mapping
Worlds. It features specific information,
including color-coded maps for all goals
and targets and provides detailed explanations
and background information on the Millennium
Development Goals.
http://www.korea-dpr.com/business/
Business opportunities in Korea
Business opportunities in Korea is the
official business webpage of the Democratic
People’s Republic of Korea. It provides
information about import and export products,
types of services exported as well as
joint venture possibilities and logistical
matters. It also provides information
on how to participate in business delegations
to Pyongyang, organized by the Korean
Friendship Association (KFA), in collaboration
with the Committee for Cultural Relations
with Foreign Countries of the Government
of the Democratic People’s Republic
of Korea.
http://www.communityforestryinternational.org/cambodia/Index.asp
Community Forestry International
in Cambodia (CFI)
E-mail: cfioffice@cfi-cambodia.org.kh
Community Forestry International seeks
to protect Cambodia’s threatened
forests and watersheds and to address
rural poverty by facilitating a national
transition to community-based natural
resource management. Including local communities
in the management of natural resources
leads to increased livelihood security
and poverty alleviation and ultimately
encourages greater sustainable development.
The website provides background information
on community forestry and the situation
of forestry in Cambodia, information about
the various programmes of CFI in Cambodia
as well as further info, including links,
contact addresses, donor information,
etc.
http://www.epinetwork.org/
Economic Policy Institutes Network
(EPIN)
The Economic Policy Institutes Network
was initiated by the UNDP Regional Bureau
for Europe and CIS in 2004 to supports
the development of economic policy institutes
(EPI) in European and CIS countries in
transition, with particular emphasis on
low and middle income countries. The principal
goal of the initiative is to develop the
capacity of economic policy institutes
in the target countries so as to provide
these countries with independent, sophisticated
voices in policy by establishing a cooperative
network; organizing targeted training
on substantive and administrative technical
issues as well as professional exchanges;
facilitating joint research amongst network
member institutes and facilitating networking
by means of conferences, joint meetings,
with particular stress on electronic information
and knowledge exchange.
http://www.itpfindia.org
Information Technology Professionals’
Forum India (ITPF)
E-mail: blr@itpfindia.org
The Information Technology Professionals’
Forum-India was established in June 2003
as a global organization dedicated to
serving Indian professionals in the information
technology-related industries. ITPF is
a knowledge forum for a community of professionals
that aims to be the the voice of IT professionals,
to enrich, empower and promote their interests
and to contribute to the overall growth
of the ICT sector. It works to foster
networking and cooperation among professionals;
render assistance and guidance to IT professionals;
stimulate thought and diffuse knowledge
so as to develop information technology
and science expertise through research,
lectures, conferences, seminars, workshops,
symposiums etc; and to secure suitable
legislative enactments for improving the
conditions of IT professionals and to
ensure the proper enforcement of legislation
for their protection.
http://www.upov.int/
International Union for the Protection
of New Varieties of Plants (UPOV)
E-mail: upov.mail@upov.int
The International Union for the Protection
of New Varieties of Plants is an intergovernmental
organization established by the International
Convention for the Protection of New Varieties
of Plants. The purpose of the UPOV Convention
is to ensure that the members of the Union
acknowledge the achievements of breeders
of new varieties of plants, by granting
to them an intellectual property right,
on the basis of a set of clearly defined
principles. To be eligible for protection,
varieties have to be (i) distinct from
existing, commonly known varieties, (ii)
sufficiently uniform, (iii) stable and
(iv) new in the sense that they must not
have been commercialized prior to certain
dates established by reference to the
date of the application for protection.
The main activities of UPOV are concerned
with promoting international harmonization
and cooperation, mainly between its members,
and with assisting countries and certain
organizations in the introduction of the
UPOV system of plant variety protection.
http://www.ipim.gov.mo Macao Trade and Investment Promotion
Institute (IPIM)
E-mail: ipim@ipim.gov.mo
The Macao Trade and Investment Promotion
Institute is a non-profit organization,
which is designated to promote the trade
and investment activities of the territory.
IPIM's main responsibilities are to introduce
potential investors to the local investment
environment and opportunities and to provide
a "one-stop service"; to provide
trade, economic, statistical, general
information and market analysis to assist
clients in exploring the market and developing
their business; to organize exhibitions
and other promotional events locally;
to organize local economic delegations
to search for business opportunities and
welcome visits by delegations to Macao,
China; and to evaluate applications for
local residence by investors, company
managers and professionals. The website
offers a wealth of information, including
business directories, trade opportunities,
publications, statistics, links, and so
on.
http://www.kish.ir
Kish Free Zone Organization
E-mail: info@kish.ir
The Kish Free Zone Organization is in
charge of handling Kish’s infrastructure
affairs, development and economic growth,
creating job opportunities, attracting
local and foreign investors, regulating
the good and labor market, maintaining
presence in the global markets for the
purpose of promoting non-oil exports,
preparing the preliminaries for the manufacture
of industrial goods, establishing convertible
industries and ultimately utilizing the
Island’s tourist potentials. The
island of Kish is located off the southern
coasts of the mainland of the Islamic
Republic of Iran and is a free zone, granting
investors privileges such as 15 years
of tax exemption. The websites provides
more info on the island and on the free
zone privileges, as well as maps, news
and online services such as access to
investment application forms.
Information is taken mainly from secondary
sources and UNESCAP accepts no responsibility
for its accuracy. Mention of any companies
and their products does not imply endorsement
by the United Nations.
The designations
employed and the presentation of the material
in this publication do not imply the expression
of any opinion whatsoever on the part of
the Secretariat of the United Nations concerning
the legal status of any country, territory,
city or area, or of its authorities, or
concerning the delimitation of its frontiers
or boundaries.
©2007 United Nations
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