Impediments to Cross-border Investments in Asian Bonds


Book Description

Following the Asian financial crisis, the development of local currency bond markets in each of the APEC economies as well as regional bond markets has received the highest priority among financial market policy-makers. Bond markets are considered as an alternative vehicle for domestic savings mobilization and also as a critical means of mitigating the dual mismatch problems of currency and maturity. However, tangible achievements have yet to materialize. The appeal of Asian bonds as evidenced by cross-border investments is dismally insignificant. Given the limited level of market activities associated with foreign investment in Asian bonds and with the supply of local currency or foreign currency denominated bonds issued by foreign borrowers in Asia, this study is designed to identify the types of impediments to cross-border investment in Asian bonds and to propose policy recommendations.




Investment barriers in the European Union 2023


Book Description

Discover key insights from the Investment barriers report 2023, an authoritative assessment by the European Investment Bank Group on investment hurdles in the European Union. The report underscores the pivotal role of investment in the economy while meticulously detailing the constraints that impede investment at the national and EU level. This year's report takes a particular look at the role of commercial power purchase agreements in renewable energy projects, climate resilience investments in transport systems, antimicrobial resistance, the forestry sector, and cross-border infrastructure projects. It is an essential read for anyone looking to understand the investment landscape within the European Union.




Falling Long-Term Growth Prospects


Book Description

A structural growth slowdown is under way across the world: at current trends, the global rate of potential growth is expected to fall to a three-decade low over the remainder of the 2020s. Nearly all the forces that have powered growth and prosperity since the early 1990s have weakened. In addition, a series of shocks has affected the global economy over the past three years. A persistent and broad-based decline in long-term growth prospects imperils the ability of emerging market and developing economies to combat poverty, tackle climate change, and meet other key development objectives. The challenges presented by this potential inability call for an ambitious policy response at the national and global levels. This book presents the first detailed analysis of the growth slowdown and a rich menu of policy options to deliver better growth outcomes. ------------------------------------------------------------------------------------------------------------- This book presents a sobering analysis of the secular growth slowdown based on the most comprehensive database of potential growth estimates available to date. With nearly all the forces that have driven growth and prosperity in recent decades now weakened, the book argues that a prolonged period of weakness is under way, with serious implications for emerging market and developing economies. The authors call for bold policy actions at both the national and global levels to lift growth prospects. The book is essential reading for policy makers, economists, and anyone concerned about the future of the global economy. Beatrice Weder di Mauro Professor of International Economics, Geneva Graduate Institute, and President of the Centre for Economic Policy Research (CEPR) Economic policy making is becoming increasingly complicated in the 2020s. In addition to tackling traditional trade-offs in aggregate demand management and improving efficiency on the supply side, policy makers need to address new priorities and challenges, from addressing climate change and its impacts to improving income distribution, all in the context of lower growth rates, waning productivity growth, and flattening of the globalization process that has brought unprecedented prosperity across the globe and lifted more than a billion people out of poverty. In Falling Long-Term Growth Prospects, the authors do a phenomenal job of assessing these trends at the global and regional levels, identifying and unpacking salient twenty-first-century policy challenges, and providing thoughtful and evidence-based policy prescriptions for leaders in advanced, emerging market, and developing economies. Importantly, the book underscores that these challenges tend to be global and, hence, global cooperation at all levels is necessary to achieve optimal results. Alas, we seem to be going in the opposite direction; this book offers a road map to put us back on the path to creating a more integrated, prosperous, and equitable global community. Michael G. Plummer Director, SAIS Europe and ENI Professor of International Economics, The Johns Hopkins University




The Alternative Investment Fund Managers Directive


Book Description

Apart from MiFID, the Alternative Investment Fund Managers Directive (AIFMD) may be the most important European asset management regulation of the early twenty-first century. In this in-depth analytical and critical discussion of the content and system of the directive, thirty-eight contributing authors – academics, lawyers, consultants, fund supervisors, and fund industry experts – examine the AIFMD from every angle. They cover structure, regulatory history, scope, appointment and authorization of the manager, the requirements for depositaries and prime brokers, rules on delegation, reporting requirements, transitional provisions, and the objectives stipulated in the recitals and other official documents. The challenging implications and contexts they examine include the following: – connection with systemic risk and the financial crisis; - nexus with insurance for negligent conduct; - connection with corporate governance doctrine; - risk management; - transparency; - the cross-border dimension; - liability for lost assets; - impact on alternative investment strategies, and - the nexus with the European Regulation on Long-Term Investment Funds (ELTIFR). Nine country reports, representing most of Europe’s financial centres and fund markets add a national perspective to the discussion of the European regulation. These chapters deal with the potential interactions among the AIFMD and the relevant laws and regulations of Austria, France, Germany, Italy, Luxembourg, Liechtenstein, The Netherlands, Malta and the United Kingdom. The second edition of the book continues to deliver not only the much-needed discussion of the inconsistencies and difficulties when applying the directive, but also provides guidance and potential solutions to the problems it raises. The second edition considers all new developments in the field of alternative investment funds, their managers, depositaries, and prime brokers, including, but not limited to, statements by the European Securities and Markets Authority (ESMA) and national competent authorities on the interpretation of the AIFMD, as well as new European regulation, in particular the PRIIPS Regulation, the ELTIF Regulation, the Regulation on European Venture Capital Funds (EuVeCaR), the Regulation on European Social Entrepreneurship Funds (EUSEFR), MiFID II, and UCITS V. The book will be warmly welcomed by investors and their counsel, fund managers, depositaries, asset managers, administrators, as well as regulators and academics in the field.







Digest of United States Practice in International Law 2008


Book Description

Co-published by Oxford University Press and the International Law Institute, and prepared by the Office of the Legal Adviser at the Department of State, the Digest of United States Practice in International Law presents an annual compilation of documents and commentary highlighting significant developments in public and private international law, and is an invaluable resource for practitioners and scholars in the field. Each year's volume compiles excerpts from documents such as treaties, diplomatic notes and correspondence, legal opinion letters, judicial decisions, Senate committee reports and press releases. Each document is selected by members of the Legal Adviser's Office of the U.S. Department of State, based on their judgments about the significance of the issues, their potential relevance to future situations, and their likely interest to scholars and practitioners. In almost every case, the commentary to each excerpt is accompanied by a citation to the full text. Featured in the 2008 Digest are excerpts from and discussion of numerous documents relating to issues of current interest, including the following: * Department of Justice position on trial and conviction within the U.S. of the son of former Liberian president Charles Taylor, for torture (Chapter 3, "International Criminal Law"). * The U.S.-Libya Claims Settlement Agreement, including the Libyan Claims Resolution Act (enacted August 4, 2008) (Chapter 8, "International Claims and State Responsibility"). * Recognition of Kosovo as a sovereign state and establishment of diplomatic relations with Kosovo (Chapter 9, "Diplomatic Relations, Succession, and Continuity of States"). * Decisions in arbitration regarding the softwood lumber dispute with Canada (Chapter 11, "Trade, Commercial Relations, Investment, and Transportation"). * Statements and speeches of U.S. officials on climate change made at international climate change conferences (Chapter 13, "Environment and Other Transnational Scientific Issues"). * Executive Orders imposing sanctions on Burma, Syria, and Zimbabwe (Chapter 16, "Sanctions"). * U.S. positions on the Israeli-Palestinian conflict as well as peace efforts in Lebanon, Somalia, and Sudan (Chapter 17, "International Conflict Resolution and Avoidance"). * U.S. statements on the Russia-Georgia conflict and other instances of international armed conflict (Chapter 18, "Use of Force, Arms Control and Disarmament, and Nonproliferation"). * U.S. positions on discussions of a possible Protocol to the Convention on Conventional Weapons relating to cluster munitions, and U.S. opposition to a separate Convention on Cluster Munitions (Chapter 18, "Use of Force, Arms Control and Disarmament, and Nonproliferation"). * U.S. federal court decisions on current and former Guantanamo detainees (Boumediene v. Bush, Parhat v. Gates, Gates v. Bismullah, Rasul v. Myers, and In re Guantanamo Bay Detainee Litigation (pertaining to enemy combatant status of Uighur detainees)), military commissions (United States v. Hamdan), detainees held in the United States (Al-Marri v. Pucciarelli), and detainees held by the Multinational Force in Iraq (Munaf v. Geren) (Chapter 18, "Use of Force, Arms Control and Disarmament, and Nonproliferation"). * UN Security Council Resolution and U.S. position on piracy in Somalia (Chapter 18, "Use of Force, Arms Control and Disarmament, and Nonproliferation"). * U.S. positions on nuclear nonproliferation-related issues, including issues relating to North Korea, Iran, Syria, Russia, and India (Chapter 18, "Use of Force, Arms Control and Disarmament, and Nonproliferation").




The International Business Environment


Book Description

Managers and executives who work in international trade and foreign direct investment are acutely aware of the importance of the governmental, intergovernmental, and systemic factors that regulate, facilitate, and/or complicate the conduct of international business (IB). But most managers and executives have limited or no expertise in these factors




The Impact of Regulation on International Investment in Finland


Book Description

The Impact of Regulation on International Investment in Finland examines what drives FDI into Finland and which domestic regulatory aspects may discourage foreign investment. The report analyses trends in FDI flows towards Finland and other Nordic-Baltic countries and discusses the benefits of foreign investment for the Finnish economy.




Impediments to Trade in Services


Book Description

First Published in 2004. The economic impact of barriers to world trade and investment in services has been thought impossible to measure. As a consequence, significant global policy initiatives such as the General Agreement on Trade in Services have been concluded in an information void. This book challenges the view that impediments to services trade cannot be quantified, detailing how these barriers can be measured and their significance estimated. The book contains studies measuring impediments to trade and investment in a variety of sectors, including telecommunications, finance, shipping, education and air transport. The authors explain how the measures were calculated and show how the results could be used in sophisticated economic models. The final part of the book looks at current issues in services negotiations in the World Trade Organisation and the Asia Pacific Economic Cooperation forum. The measurements and methods detailed in this work have clear relevance to policymaking on services liberalisation and could be used by both international and regional organisations in services negotiations. This work will consequently prove to be an extremely valuable addition to the literature of the field.




Corporate Governance The Role of Institutional Investors in Promoting Good Corporate Governance


Book Description

Covering 26 jurisdictions including in-depth review of Australia, Chile and Germany, this report focuses the role of institutional investors in promoting good corporate governance practices including the incentives they face to promote such outcomes.