The financial crisis and its regulatory consequences are set to change the landscape of financial centres worldwide. We have identified four drivers of financial centre competitiveness after the crisis: (1) The big-4 financial centres will remain strongholds of global finance. (2) The crisis accelerates the trend towards a multi-polar financial industry, with emerging financial centres gaining in size and competitiveness. (3) National financial market may benefit from domestically-oriented policies in the short run, but will find it harder to compete in the long run. (4) Providing a good regulatory framework will be a key determinant of competitiveness going forward.
At the United Nations Climate Change Conference 2009 in Copenhagen, a group of 77 developing nations and emerging markets led by China threw a controversial proposal into the negotiating ring. They called for an end to patent protection in general or compulsory licensing (governments limiting patent protection) for climate-friendly and/or energy-efficient technologies in order to speed up the growth-enhancing transfer of technology.
The fall of the Iron Curtain was followed in the early 1990s by a surge in globalisation that sent global exports rising sharply. World trade rose from USD 5.4 tr in 1990 (equivalent to some 16% of global GDP at 2009 prices) to its all-time high of USD 15.5 tr in 2008 (24.4%). The global downturn triggered by the financial crisis reduced global trade to around USD 10.1 tr in 2009. Developments since then have varied widely in the individual countries and regions. Analysing bilateral trade flows is therefore a worthwhile way of tackling economic issues, such as how global imbalances materialise...
Dem Fall des Eisernen Vorhang folgte Anfang der 1990er Jahre eine Globalisierungswelle, wodurch die weltweiten Exporte erheblich an Dynamik gewannen. Der Welthandel stieg von USD 5,4 Bill. in 1990 (in 2009er Preisen, rd. 16% des globalen BIP) auf sein bisherigen Rekordwert von USD 15,5 Bill. in 2008 (24,4%). Der weltweite Abschwung, ausgelöst durch die Finanzkrise, reduzierte den Welthandel auf rund USD 10,1 Bill. in 2009. In den einzelnen Ländern und Regionen verlief die Entwicklung seitdem sehr unterschiedlich. Daher lohnt eine Analyse der bilateralen Handelsströme zur Beantwortung ökonomischer Fragestellungen, wie beispielsweise der Entstehung globaler Ungleichgewichte...
The world’s water markets are confronted with major challenges. The increase in the world's population and higher incomes in developing countries and emerging markets are going hand in hand with a rise in demand for food, energy and other goods. This is resulting in increased demand for water. Climate change will amplify many water-related problems and create new ones. We put the annual investment required in the global water sector at about EUR 400-500 bn. Governments will not be able to raise the funding needed on their own. For this reason, we believe it makes sense for governments and the private sector to cooperate more closely. Makers of “water technologies” will have huge sales potential awaiting them in the coming decades. We have used a scoring model to rank the attractiveness of various countries for investments in the water industry. Among the economies that ranked best are many countries from the Middle East, but also the heavily populated countries of China and India as well as the US and Germany. In principle, though, all countries require a substantial amount of investment in the water sector.
Während des Weltklimagipfels in Kopenhagen Ende 2009 warfen die 77 Entwicklungs- und Schwellenländer unter der Federführung Chinas einen kontroversen Vorschlag in den Verhandlungsring. Sie forderten eine generelle Patentfreiheit oder eine Zwangslizenz (staatliche Beschränkung eines Schutzrechts) für klimaschützende und/oder energieeffiziente Technologien, um dadurch den wachstumsrelevanten Technologietransfer zu beschleunigen.
World trade is still showing a mixed recovery after collapsing by nearly 13% in 2009. The emerging markets have seen external trade pick up strongly and in some cases rapidly, unlike the developed economies. In a few instances, the export performance of emerging markets is close or above the pre-crisis levels...
Der Welthandel entwickelt sich nach Einbruch um knapp 13% in 2009 noch heterogen. Der Außenhandel der Emerging Markets wächst stark und teilweise rasant. Die Exporte der entwickelten Volkswirtschaften wuchsen zunächst in 2009 recht träge. Die jüngsten Daten belegen aber eine Beschleunigung des Exportwachstums...
Differing growth models have resulted in an increasing disparity between the competitiveness of individual euro area countries over the last few years. These differences affect the growth prospects of these countries and thus on the sustainability of their public finances. What has to be done?...
