Sustainable Development Law & Policy Volume 9 Issue 1
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The Financial and Economic Crisis of 2008-2009 and Developing Countries
THE FINANCIAL AND ECONOMIC CRISIS OF 2008-2009 AND DEVELOPING COUNTRIES Edited by Sebastian Dullien Detlef J. Kotte Alejandro Márquez Jan Priewe UNITED NATIONS New York and Geneva, December 2010 ii Note Symbols of United Nations documents are composed of capital letters combined with figures. Mention of such a symbol indicates a reference to a United Nations document. The views expressed in this book are those of the authors and do not necessarily reflect the views of the UNCTAD secretariat. 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. Material in this publication may be freely quoted; acknowl edgement, however, is requested (including reference to the document number). It would be appreciated if a copy of the publication containing the quotation were sent to the Publications Assistant, Division on Globalization and Development Strategies, UNCTAD, Palais des Nations, CH-1211 Geneva 10. UNCTAD/GDS/MDP/2010/1 UNITeD NatioNS PUblicatioN Sales No. e.11.II.D.11 ISbN 978-92-1-112818-5 Copyright © United Nations, 2010 All rights reserved THE FINANCIAL AND ECONOMIC CRISIS O F 2008-2009 AND DEVELOPING COUN T RIES iii CONTENTS Abbreviations and acronyms ................................................................................xi About the authors -
A Sticky-Price View of Hoarding ∗
A Sticky-Price View of Hoarding ∗ Christopher Hansman Harrison Hong Aureo de Paula Imperial College London Columbia University University College London Vishal Singh New York University November 8, 2018 Abstract Governments worry that household hoarding of staple foods during times of high prices destabilizes com- modity markets. The conventional view has hoarding—due to consumer precaution or panic—amplifying supply shocks and creating shortages. Using U.S. store-scanner data during the 2008 Global Rice Crisis, we reject this narrative. Areas with rice-eating populations had more hoarding but no difference in store price dynamics or stockouts. We find support instead for a reverse-causal channel, whereby sticky store prices lead to hoarding. Anticipating higher prices, rice-eating households bought rice from slow-to-adjust stores that implicitly offered promotions. Policy implications differ across these two views. ∗This paper was previously circulated as "Hoard Behavior and Commodity Bubbles". We thank seminar participants at INSEAD, Aalto, Peking University, Warwick University, Cambridge University, NBER Universities Conference on Commodities, HKUST, New York University, PUC-Rio and Yale University for helpful comments. We are also grateful to Emi Nakamura, Hassan Afrousi, Michael Woodford, William Goetzmann, Hank Bessembinder, Manuel Arellano, Orazio Attanasio, Richard Blundell, Marcelo Fernandes, Bo Honoré, Guy Laroque, Valerie Lechene and Elie Tamer for useful conversations. de Paula gratefully acknowledges financial support from the European Research Council through Starting Grant 338187 and the Economic and Social Research Council through the ESRC Centre for Microdata Methods and Practice grant RES-589-28-0001. 1 Introduction Household hoarding of staple foods—defined as the accumulation of inventories during times of high prices—has long been a concern of governments, particularly in developing countries. -
Chapter 4 Freedom and Progress
Chapter 4 Freedom and Progress The best road to progress is freedom’s road. John F. Kennedy The only freedom which deserves the name, is that of pursuing our own good in our own way, so long as we do not attempt to deprive others of theirs, or impeded their efforts to obtain it. John Stuart Mill To cull the inestimable benefits assured by freedom of the press, it is necessary to put up with the inevitable evils springing therefrom. Alexis de Tocqueville Freedom is necessary to generate progress; people also value freedom as an important component of progress. This chapter will contend that both propositions are correct. Without liberty, there will be little or no progress; most people will consider an expansion in freedom as progress. Neither proposition would win universal acceptance. Some would argue that a totalitarian state can marshal the resources to generate economic growth. Many will contend that too much liberty induces libertine behavior and is destructive of society, peace, and the family. For better or worse, the record shows that freedom has increased throughout the world over the last few centuries and especially over the last few decades. There are of course many examples of non-free, totalitarian, ruthless government on the globe, but their number has decreased and now represents a smaller proportion of the world’s population. Perhaps this growth of freedom is partially responsible for the breakdown of the family and the rise in crime, described in the previous chapter. Dictators do tolerate less crime and are often very repressive of deviant sexual behavior, but, as the previous chapter reported, divorce and illegitimacy are more connected with improved income of women than with a permissive society. -
Extensions of Remarks
August 8, 1984 EXTENSIONS OF REMARKS 23165 EXTENSIONS OF REMARKS MILITARY READINESS: A vestments, especially strategic nuclear fense request, the House Armed Services GROWING PROBLEM programs. Simply drawing out pro Committee was most protective of conven curement, or cutting a program in half tional warfare systems and force readiness, will only postpone what will then be a but willing to let strategic nuclear systems HON. CHARLES McC. MATHIAS, JR. take their lumps. Weinberger's sacrifices OF MARYLAND larger crunch in the 1985-90 time were quite the opposite, insulating the stra IN THE SENATE OF THE UNITED STATES frame. tegic buildup while cutting back the general Aerospace America magazine recent forces. Wednesday, August 8, 1984 ly pttblished an article in which these very points were discussed, and in con Looking down the road, it is obvious that •Mr. MATHIAS. Mr. President, while many more tough decisions will have to be siderable detail. I insert the Aerospace made about what to keep, cut back, post the current military readiness picture America article entitled "Pentagon's may be good-and even getting pone, and what to jettison. Richard De Bright New World Fading Fast" in the Lauer, defense under secretary for research better-the long-term effectiveness of RECORD: and engineering, told Sen. Ted Stevens <D our Armed Forces may indeed be in Alaska) that he could "handle" congression danger. [From the Aerospace America, July 1984] al refusal of new starts for the $1 billion DDG-51 guided missile destroyer as well as It seems to me there are two poten PENTAGON'S BRIGHT NEW WORLD FADING FAST tial problems: the nature of the de the $129 million requested for development <By Henry Simmons) of the McDonnell Douglas C-17 STOL fense budget itself, and the financial transport in the current fiscal year. -
Immanent Politics, Participatory Democracy, and the Pursuit of Eudaimonia
LIBERTARIAN PAPERS VOL. 3, ART. NO. 16 (2011) IMMANENT POLITICS, PARTICIPATORY DEMOCRACY, AND THE PURSUIT OF EUDAIMONIA GEOFFREY ALLAN PLAUCHÉ* Political and economic freedom is not simply the absence of government controls over the economy and of dictatorial authority. It involves the emergence of alternative and more fragmented notions of “authority” in which participants in effect have to earn the always partial authority they have. It depends on the active participation in the polity and in the economy by diverse people who exercise their own initiative. —Lavoie and Chamlee-Wright, Culture and Enterprise, p. 1 Radicalizing [democracy] is too often imagined as moving toward “direct democracy,” voting directly for social outcomes. But there is much more to democratic processes than voting, and much more to politics than government. Wherever human beings engage in direct discourse with one another about their mutual rights and responsibilities, there is a politics. I mean politics in the sense of the public sphere in which discourse over rights and responsibilities is carried on. —Lavoie, “Democracy, Markets and the Legal Order,” pp. 111–12 Introduction LIBERALISM, AND THE MARKET FORCES it has traditionally championed, helped to undermine and overthrow the old order of the status *Geoffrey Allan Plauché is an adjunct instructor for Buena Vista University, webmaster of The Libertarian Standard, and founder and executive editor of Prometheus Unbound: A Libertarian Review of Fiction and Literature. He can be contacted via his website at gaplauche.com. This article is a revised version of chapters six and seven of his doctoral dissertation, Aristotelian Liberalism: An Inquiry into the Foundations of a Free and Flourishing Society (May 2009), which can be found online in Louisiana State University’s Electronic Thesis and Dissertation Library. -
Food Reserves Working Paper #8 March 2019 Rice Reserves
Food Reserves Working Paper #8 March 2019 Rice Reserves, Policies and Food Security: The Case of the Philippines Ramon L. Clarete Study funded by the European Commission, Directorate-General for Development and Cooperation, Unit C1 DAI Europe Ltd. 3rd Floor Block C Tel: +44 (0) 1442 202 400 Westside, Fax: +44 (0) 207 420 8601 London Road, www.dai-europe.com Apsley HP3 9TD United Kingdom About this working paper This working paper is one of the products of a study conducted by DAI at the request of the European Commission as part of the advisory service ASiST managed by the unit in charge of rural development, food security and nutrition (C1) within the Directorate General for International Cooperation and Development (DEVCO). The study has aimed at clarifying the potential role of food reserves in enhancing food and nutrition security in developing countries, and at making recommendations on how to use food reserves (in complement to other tools), taking into account the specificities on the context and the constraints of World Trade Organisation (WTO) disciplines. The study was conducted based on i) an extensive review of the existing literature (both theoretical and empirical) and ii) 10 case studies analysing national or regional experiences in Africa, Asia and South America. All the products of the study (including other working papers, a compilation of case study summaries, and a synthesis report) are available at: https://europa.eu/capacity4dev/hunger-foodsecurity-nutrition/discussions/how-can-food-reserves-best-enhance-food-and-nutrition- security-developing-countries. Acknowledgements Franck Galtier (CIRAD) coordinated the overall study. -
Rice Price Controls Policy of Vietnam and Its Competition with Thailand: a Practical Application of Spatial Equilibrium Models
RICE PRICE CONTROLS POLICY OF VIETNAM AND ITS COMPETITION WITH THAILAND: A PRACTICAL APPLICATION OF SPATIAL EQUILIBRIUM MODELS Dissertation for the Completion of the Academic Degree “Doctor Rerum Agriculturarum” (Dr. rer. agr.) Submitted to the Faculty of Agriculture and Horticulture at Humboldt-Universität zu Berlin by Pham Thi Huong Diu, M.Sc. President of the Humboldt-Universität zu Berlin Prof. Dr. Jan-Hendrik Olbertz Dean of the Faculty of Agriculture and Horticulture Prof. Dr. Dr. h. c. Frank Ellmer Advisors: 1. Prof. Dr. Dr. h.c. Harald von Witzke 2. Prof. Dr. Wolfgang Bokelmann 3. Prof. Dr. Siegfried Bauer Date of Oral Exam: 19.03.2014 ii ACKNOWLEDGEMENT First of all, I would like to express my sincere gratitude to my supervisor, Prof. Dr. Dr. h. c. Harald von Witzke, for his strong support for my doctoral study and thesis. I would also like to thank him for being an open person to ideas, and for encouraging and helping me to shape my concerns and ideas. For all I have learned from him and for providing an office place where I have studied over 4 years. His attitude to research inspired me to continue to a doctoral program and more motivation in study. I would like to thank .Prof. Dr Tihman Brück for his guidance, encouragement and insightful comments. Although he has moved to work in another country, his supports are always valuable to me until the end. I also would like to thank Prof. Dr. rer. nat. habil. Wolfgang Bokelmann and Prof. Prof. Dr. Siegfried Bauer for reviewing my thesis with enthusiasms. -
To Protect Agribusiness Profits Or the Right to Food? November 2009 Written by Molly D
A Question of Governance: To Protect Agribusiness Profits or the Right to Food? November 2009 Written by Molly D. Anderson for the Agribusiness Action Initiatives (AAI). Co-Editors: Alexandra Spieldoch- IATP/AAI-North America and Myriam Vander Stichele – SOMO/AAI-Europe About AAI The Agribusiness Action Initiatives (AAI) is a growing international network of NGOs, activists, academic researchers, and food system experts from farm, labor, environment, consumer, church and civil society organizations. AAI is concerned by the market concentration of a hand- ful of transnational agro-food conglomerates and their inordinate power over our most basic life system: agriculture and food. To learn more about how AAI is challenging corporate concentration and power, please visit www.agribusinessaction.org About the Author Molly D. Anderson, PhD, Food Systems Integrity Dr. Anderson works on science and policy for more sustainable and democratic food systems with organizations working from the local to international scales. She was a Coordinating Lead Author on the International Assessment of Agricultural Knowledge, Science & Technology for Development (North America/Europe sub-Global Report). A Question of Governance: To Protect Agribusiness Profits or the Right to Food? INTRODUCTION In November 2009, government delegates and representatives from multilateral organizations and civil society are meeting in Rome for the third international food summit to address rapidly rising numbers of hungry people (the “food crisis”) by coordinating and expanding -
Hillsdale College Freedom Library Catalog
Hillsdale College Freedom Library Catalog Books from Hillsdale College Press, Back Issues of Imprimis, Seminar CDs and DVDs THOMAS JEFFERSON | ANTHONY FRUDAKIS, SCULPTOR AND ASSOCIATE PROFESSOR OF ART, HILLSDALE COLLEGE CARSON BHUTTO YORK D'SOUZA STRASSEL WALLACE HANSON PESTRITTO GRAMM ARNN GOLDBERG MORGENSON GILDER JACKSON THATCHER RILEY MAC DONALD FRIEDMAN Hillsdale College Freedom Library Catalog illsdale College is well known for its unique independence and its commitment to freedom and the liberal arts. It rejects the huge federal and state taxpayer subsidies that go to support other American colleges and universities, relying instead on the voluntary Hcontributions of its friends and supporters nationwide. It refuses to submit to the unjust and burdensome regulations that go with such subsidies, and remains free to continue its 170-year-old mission of offering the finest liberal arts education in the land. Its continuing success stands as a powerful beacon to the idea that independence works. This catalog of books, recordings, and back issues of Imprimis makes widely available some of the best writings and speeches around, by some of the smartest and most important people of our time. These writings and speeches are central to Hillsdale’s continuing work of promoting freedom, supporting its moral foundations, and defending its constitutional framework. Contents Hillsdale College Press Books .................................................... 1 Imprimis ...................................................................... 5 Center -
Interrelations Between Public Policies, Migration and Development in the Philippinesphilippines 41 2017 03 2017 1 P141 978-92-64-27227-9 for More Information
OECD Development Pathways Interrelations between Public Policies, Migration and Development in the Philippines OECD Development Pathways Interrelations between Public Policies, OECD Development Pathways Migration and Development in the Philippines The OECD Development Pathways series helps developing and emerging economies to Interrelations between identify innovative policy solutions to their specifi c development challenges. Higher levels of well-being and more equitable and sustainable growth cannot be achieved by merely reproducing the experience of industrialised countries. For each of the countries studied, Public Policies, Migration the series proposes options for action in specifi c policy areas and at the broader strategic level. It identifi es the binding constraints to development across all sectors and proposes and Development in whole-of-government solutions. the Philippines Interrelations between Public Policies, Migration and Development in the Philippines is the result of a project carried out by the Scalabrini Migration Center (SMC) and the OECD Development Centre, in collaboration with the Commission on Filipinos Overseas (CFO) and with support from the European Union. The project aimed to provide policy makers with evidence on the way migration infl uences specifi c sectors – the labour market, agriculture, education and investment and fi nancial services – and, in turn, how sectoral policies affect migration. The report addresses three dimensions of the migration cycle that have become an important part of the country’s social and economic contexts: emigration, remittances and return. The results of the empirical work confi rm that even though migration contributes to the development of the Philippines, the potential of migration is not fully exploited. One explanation is that, despite its advancement in understanding the link between migration and development which is refl ected in the Philippine Development Plan, not all policy makers in the Philippines take migration suffi ciently into account in their respective policy areas. -
Food in a Warming World the Changing Foods on the British Plate
FOOD IN A WARMING WORLD THE CHANGING FOODS ON THE BRITISH PLATE Food in a warming world: - The changing foods on the British plate Executive Summary Our climate is changing at an alarming rate, with 2015, 2016 and 2017 confirmed as the three warmest years on record. The international Paris Agreement has been created to limit the greenhouse gas emissions that are causing climate change, and it recognises the breadth of activities that contribute emissions. The role of the food we eat has come into the spotlight in addressing climate change, and it is now evident how much we can all do to help global efforts by adapting our diets. This report takes the example of four iconic, classic UK dishes: chicken tikka masala, fish and chips, ploughman’s lunch, and cawl, Wales’ famous lamb stew. We consider where the ingredients come from and how much the different ingredients contribute to carbon footprint. For comparison, one example result shows that the emissions for the ingredients and preparation of one chicken tikka masala meal are equivalent to boiling a kettle 89 times to make a cup of tea. In doing so, we consider how the footprints of these meals compare to the ‘carbon budget’ we need to have adopted by 2030 to meet the Paris Agreement. But the climate and our food is a two-way street. We have identified twenty risks posed by climate change to our classic British dishes, some affecting food production overseas, while others emerging on home shores. Example impacts include lower yields for global commodities like rice and soybeans; heat stress disrupting livestock productivity; warmer, wetter conditions leading to pest invasions and proliferations; and water shortages threatening age-old production regions. -
Cleaning up After the Elephants
Perspective Cleaning Up After Published by the Elephants The Foundation for Economic Education Irvington-on-Hudson, NY 10533 detect a pattern in the challenges hurled at liberals Phone: (914) 591-7230; E-mail: [email protected] www.fee.org on nearly every issue. The opponent of liberalism describes a problem, invariably with roots in a gov- President Richard M. Ebeling I ernment infringement of freedom. In response, he pre- Editor Sheldon Richman Managing Editor Beth A. Hoffman scribes more government interference with freedom, at Book Review Editor George C. Leef which point the liberal interjects that the best and only just solution is the repeal of the culpable state power.The Columnists statist replies that this will not do because the liberal’s Charles Baird Robert Higgs Donald J. Boudreaux Lawrence W.Reed proposal won’t solve every related problem and may even Stephen Davies Russell Roberts reveal hitherto overlooked problems. Undo still more Richard M. Ebeling Thomas Szasz government action, the liberal replies. But this brings the Burton W.Folsom, Jr. Walter E.Williams same criticism. Contributing Editors Here’s what’s going on. The exercise of state power Norman Barry Dwight R. Lee for many years has created gross distortions in incentives, Peter J. Boettke Wendy McElroy consumer preferences, and investment, leading to the James Bovard Tibor Machan Thomas J. DiLorenzo Andrew P.Morriss problems under discussion. In other words, the politicians Joseph S. Fulda James L. Payne and bureaucrats have made a royal mess.Then liberals are Bettina Bien Greaves William H. Peterson faulted for not being able to clean it up tidily with the John Hospers Jane S.