What future for the Global Aid for Trade Initiative? Towards an assessment of its achievements and limitations

As with any form of contemporary global governance, the impact of the global Aid for Trade Initiative (2006) has been mixed. However, to dismiss it as a failure would be premature. The co-ordination system established was based on best-practice techniques of governance in a diverse non-hierarchical environment, such as the international development community. This form of co-operation cannot overcome global economic and political asymmetries, but it can be effective in several respects. In particular, the Initiative led to increased funding for AfT and kick-started a range of initiatives and technical advances; while the monitoring process has evolved significantly to give voice to new actors and issues. Although the future of the AfT Initiative is uncertain, its achievements merit careful consideration

Anomaly or Augury? Global Food Prices Since 2007

This article reviews the dynamics of global food prices since the food crisis of2007–08, the extent to which international prices have influenced national prices and poverty and wellbeing outcomes, and considers whether this exceptional period represents an anomaly or likely signals future episodes of food price volatility. It finds that although some factors that contributed to recent events have eased considerably, some significant drivers remain structural threats to future food security. There is little reason to be confident that recent reductions in food prices and volatilities augur well for the food security or wellbeing of those living on low and precarious incomes in the future

Bracing for the Typhoon: Climate Change and Sovereign Risk in Southeast Asia

This article investigates and empirically tests the link between climate change and sovereign risk in Southeast Asia. Southeast Asian countries are among those most heavily affected by climate change. The number and intensity of extreme weather events in the region have been increasing markedly, causing severe social and economic damage. Southeast Asian economies are also exposed to gradual effects of global warming as well as transition risks stemming from policies aimed at mitigating climate change. To empirically examine the effect of climate change on the sovereign risk of Southeast Asian countries, we employ indices for vulnerability and resilience to climate change and estimate country-specific OLS models for six countries and a fixed effects panel using monthly data for the period 2002–2018. Both the country-specific and the panel results show that greater climate vulnerability appears to have a sizable positive effect on sovereign bond yields, while greater resilience to climate change has an offsetting effect, albeit to a lesser extent. A higher cost of debt holds back much-needed investment in public infrastructure and climate adaptation, increases the risk of debt sustainability problems, and diminishes the development prospects of Southeast Asian countries

Growth in Environmental Footprints and Environmental Impacts Embodied in Trade: Resource Efficiency Indicators from EXIOBASE3

Most countries show a relative decoupling of economic growth from domestic resource use, implying increased resource efficiency. However, international trade facilitates the exchange of products between regions with disparate resource productivity. Hence, for an understanding of resource efficiency from a consumption perspective that takes into account the impacts in the upstream supply chains, there is a need to assess the environmental pressures embodied in trade. We use EXIOBASE3, a new multiregional input-output database, to examine the rate of increase in resource efficiency, and investigate the ways in which international trade contributes to the displacement of pressures on the environment from the consumption of a population. We look at the environmental pressures of energy use, greenhouse gas (GHG) emissions, material use, water use, and land use. Material use stands out as the only indicator growing in both absolute and relative terms to population and gross domestic product (GDP), while land use is the only indicator showing absolute decoupling from both references. Energy, GHG, and water use show relative decoupling. As a percentage of total global environmental pressure, we calculate the net impact displaced through trade rising from 23% to 32% for material use (1995¿2011), 23% to 26% for water use, 20% to 29% for energy use, 20% to 26% for land use, and 19% to 24% for GHG emissions. The results show a substantial disparity between trade-related impacts for Organization for Economic Cooperation and Development (OECD) and non-OECD countries. At the product group level, we observe the most rapid growth in environmental footprints in clothing and footwear. The analysis points to implications for future policies aiming to achieve environmental targets, while fully considering potential displacement effects through international trade

Implementing sustainable tourism: a multi-stakeholder involvement management framework

Within the extensive body of literature on sustainable tourism (ST), its successful implementation is an emerging and important theme. The lack of or ineffective stakeholder participation is a major obstacle to ST realisation and there is little clarity as to how best to resolve this problem. This paper presents the findings of a purposive UK-based case study that evaluated stakeholder involvement in the implementation of ST. Using over fifty stakeholders’ accounts drawn from eight primary stakeholder groups, a ‘multi-stakeholder involvement management’ (MSIM) framework was developed. The MSIM framework consists of three strategic levels: attraction, integration and management of stakeholder involvement. Six stages are embedded within the three levels: scene-setting, recognition of stakeholder involvement capacity, stakeholder relationship management, pursuit of achievable objectives, influencing implementation capacity and monitoring stakeholder involvement. These are supported by the overarching notion of ‘hand-holding’ and key actions [e.g. managing stakeholder adaptability] that enhance stakeholder involvement in ST. Key words: Implementation, Sustainable Tourism, Stakeholder Involvement, Stakeholder framewor

Making Doha More Developmentally Friendly for Agriculture

"The opportunity to achieve the substantial benefits from the "once-in-a-generation" reduction in the support and protection of the agriculture sector under the Doha Development Agenda appears to be slipping away. The paper outlines a series of factors for the delay in the negotiations. The author contends that if developed countries had been more proactive on a trade and development agenda, then there could have been an agreement reached several months ago. Such a developmentally friendly agenda could involve (i) better Special and Differential Treatment on market access and more flexible market access protection for developing countries, (ii) a binding commitment to increase aid for trade assistance, (iii) more resources to provide human resource capacity building in export marketing in developing countries, (iv) an agreement for the termination of trade distorting domestic support, and (v) revisions to the SPS Agreement to accommodate the concerns of developing countries. A developmentally friendly agreement would likely still allow the majority of the Doha Round gains to be realized by developed countries. The paper also tracks the developments, describes the progress, and reviews the empirical estimates of the expected global impact of the eight-year Doha Round negotiations." Copyright (c) 2010 Canadian Agricultural Economics Society.