Feature Service Articles
Latest Feature Service Article
Article at a glance
- The process of globalization and increased rates of urbanization are forcing countries to rethink their approach to economic policy.
- Widespread reluctance to implement comprehensive reforms and burdensome legal and regulatory regimes are impediments to economic growth and entrepreneurship.
- Enterprise Cities, akin to free trade zones, are one possible solution to this problem. These are special jurisdictions with investor-friendly legal and regulatory policies that create the pre-conditions for entrepreneurship and stimulate competition-based growth.
Business associations play a crucial role in the economic development of every country. In post-conflict countries, however, associations have a heightened responsibility to facilitate the transition from war to reconstruction. Yet, it is important to note that there is no standard formula for initiating and sustaining the transition to a new system. In many post-conflict countries, circumstances beyond the private sector’s control often force business associations to adopt new approaches to economic development and, more importantly, develop a new paradigm of association management.
Associations must often take the lead in creating a new vision to address the needs of the business community while the government is occupied with rebuilding the political system and re-establishing order. The role of business associations in post-conflict countries is not only to facilitate the immediate renewal of the economy, but also the rebuilding of the country’s underlying economic, political, and social institutions.Read more...
In his interview with CIPE, Michael Novak discusses the universal features of the human desire for liberty and its connection to democracy in light of his recent book The Universal Hunger for Liberty: Why the Clash of Civilizations is not Inevitable. Mr. Novak explains that liberty is actually a tripartite system in which political liberty, economic liberty, and moral and cultural liberty must be blended together to form a balanced system. Free enterprise is an important component of this equation because entrepreneurs create jobs and add value so that others can become enfranchised and strive towards their own personal goals.
Mr. Novak also discusses the importance of religion and civil society in a democratic society. He presents Alexis de Tocqueville’s argument that religious values and active participation in civil society are needed for a democracy to grow and flourish. The strong connection between religion and the economy is also becoming more apparent, because religion instills the moral and cultural values essential to protect democracy and a dynamic economy.Read more...
Investment is all about managing risks. It has been the root of traditional analysis to focus on numbers, ratios, and capital. But as investors evaluate an opportunity and banks look at loans, a new factor is being injected into the analysis – the risk that the numbers do not reflect the operating performance of the enterprise. So today, a whole new risk assessment industry has sprung up, focusing on the internal workings of the corporate structure. This new industry is corporate governance.
While the numbers remain important, investors and bankers are increasingly focusing on how the various aspects of the corporation perform relative to its objectives and its shareholders. Whether one views this new trend as simply fashion or evolution, good corporate governance is of increasing importance for companies in developing countries as they compete for capital and investment. It is seen to help create more sustainable companies regardless of their size, geographic location, or industry.Read more...
In his interview with CIPE, New York University Law Professor and constitutional expert Noah Feldman discusses the issues faced while framing the Iraqi Constitution and how the constitution will affect the commercial and legal environment in Iraq. Importantly, he discusses the constitution in the light of its economic, not just political, consequences.
Iraq’s future is predicated upon a functioning economy, which requires such things as firm private property rights guarantees. But it’s more than just writing the laws on the paper. If, following the ratification, politicians are unable to effectively administer the government and encourage economic growth, there is little hope that the public will embrace the constitution. However, while the constitution is very important in shaping the future of the Iraqi economy, the most pressing issue facing Iraq remains the security situation. A secure Iraq governed by the rule of law is the first precondition for a flourishing economy and functioning constitution. Once Iraq is able to eliminate security threats, its future will brighten considerably.Read more...
Globalization is here to stay. Unfortunately, the ills of globalization and the negative attributes of an increasingly interconnected world are being blamed on multinational corporations. Following the logic of the most fervent critics of globalization, trade liberalization and capitalism are the root of all evil. In the context of that scrutiny, globalization should be accepted as inevitable and embraced by public and private stakeholders to shape both public and private good. Globalization is a process that will work best if it is pro-actively managed to succeed. Trade agreements, foreign aid, and diplomatic engagement are the best tools available to leverage benefits and mitigate or prevent negative outcomes.Read more...
- Democratic Governance
- Access to Information
- Combating Corruption
- Business Association Development
- Corporate Governance
- Legal & Regulatory Reform
- Informal Sector & Property Rights
- Corporate Citizenship (CSR)
- South Asia
- Middle East & North Africa
- Latin America & the Caribbean
Call for Items
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.
Articles should be sent to: firstname.lastname@example.org.