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The role of the private sector in building democracies that deliver prosperity and opportunity to all citizens is often overlooked. That is why the contribution made by private sector participants at the 8th Ministerial Conference of the Community of Democracies is particularly noteworthy. The Ministerial, which took place on July 22-24 in El Salvador, gathered representatives of governments, parliaments, civil society, the private sector, and youth in the capital of the Community’s 2013-2015 Presidency, San Salvador. The leading theme for El Salvador’s Presidency was “Democracy and Development.” About 800 participants from more than 70 countries attended.
The Conference facilitated more in-depth interactions between representatives of civil society, parliaments, the private sector, and youth in designated sectoral forums. These forums took place on the opening day of the Conference and met simultaneously to discuss the most urgent issues in their areas of expertise and make recommendations to the participating governments. The Center for International Private Enterprise (CIPE) organized a panel at the Private Sector Forum on the topic of Public-Private Dialogue (PPD).
The Private Sector Forum produced a Declaration that emphasizes the principles of dialogue and corporate social responsibility as key elements of progress toward democracy and development. The Declaration of the Private Sector Forum was subsequently presented to high-level government officials from around the world during the final day of the Ministerial.Read more...
This article was the first place winner in the Economically Sustainable Development category of CIPE's 2011 Youth Essay Contest.
Article at a glance
- In Nepal, foreign aid has remained at the very core of development planning over the last six decades, making a powerful case for both international and local actors to focus on sustainable development and address issues of aid dependency.
- Countries like Nepal do need basic necessities such as food and water, but in order for development initiatives to take root they also need growing economies based on democracy and the rule of law, where citizens have business plans and jobs rather than tents and food parcels.
- Nepal’s youth have been finding their own ways to respond to problems around them by initiating projects, creating businesses, and using social media tools to make their voices heard.
- The path to sustainable development is through making sure that economic growth is stable and that citizens, especially youth, have the opportunity to secure a reliable income.
This article is based on a longer piece published under the same title in the International Journal on World Peace, Vol. XXVIII No. 1 March 2011.
China is widely regarded as one of the success stories of globalization. Analysts identify China’s success in terms of high and sustained rates of aggregate growth and per capita national income, the absence of a major financial crisis, and a substantial reduction in poverty. They tend to view these results as the consequences of a prudent, yet extensive, program of domestic deregulation and global economic integration, as well as sound macroeconomic management. The outcome of highly accelerated economic development has been frequently called the Chinese Miracle.Read more...
This article was the first place winner in the Democratic Transitions category of CIPE's 2011 Youth Essay Contest.
“India is the world’s largest democracy” is now a phrase which I am sure you are bored of hearing. There is, however, a much less bandied about but equally true phrase: “India is the world’s youngest democracy.”
Today, 54 percent of India’s population is below the age of 25. Over seven out of 10 Indians are below the age of 35. The Population Council of India estimates that there are 315 million people between the ages of 10 and 24. It is estimated that there were 350 million Indians in the politically crucial age group of 15-34 in the year 2000. This number may rise to 485 million by 2030. By 2020, the average Indian will be 29 years old as compared to 37 in China, 45 in Western Europe and 49 in Japan.Read more...
Since the publication of Hernando de Soto's landmark book The Mystery of Capital in 2000, the link between property rights and economic development, especially for the world's poor, has become increasingly well understood.Read more...
Economic freedom contributes to economic growth by fostering competition among actors, leading to increased innovations, efficiency, and ultimately, productivity. Economic freedom also allows investments to be more efficient, leading to growth. The rule of law, as understood as the protection of private property and contractual rights, can protect economic freedom and contribute to growth as well.
Still, the question remains of how to describe economic institutions that make the exercise of economic freedom possible. This article sets out to describe the different component of economic freedom and explain how they relate to both economic growth and the rule of law. Then, it addresses what is necessary for good economic institutions to foster growth on the basis of economic freedom.
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CIPE welcomes articles submitted by readers. Most articles run between 3-7 pages (1000-3000 words), but all submissions relevant to CIPE's mission of building accountable, democratic institutions through market-oriented reform will be considered based on merit. Economic Reform Feature Service articles are primarily geared toward an international, non-academic community of businesspeople, economic reformers, and policy-makers. Specific policy recommendations and articles based on direct experience are encouraged. In addition to articles, we are willing to adapt suitable lectures, speeches, research notes, and academic papers.
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