...| UN-Conference 1974-76 | Charter of Economic Rights and Duties UN- habitat Conference | | | Submitted to:- Mrs. Anu Kohli | | UNITED NATIONS CONFERENCE 1974-1976Twenty-eighth session Agenda item 51 Resolutions adopted by the General Assembly 3082 (XXVIII). Charter of Economic Rights and Duties of States | | Bearing in mind that the United Nations Conference on Trade and Development, in its resolution 45 (III) of 18 May 1972,/8 decided to establish a Working Group of governmental representatives to draw up a draft Charter of Economic Rights and Duties of States, Recalling its resolution 3037 (XXVII) of 19 December 1972, by which it decided to enlarge the composition of the Working Group on the Charter of Economic Rights and Duties of States, Reaffirming its conviction of the urgent need to establish or improve norms of universal application for the development of international economic relations on a just and equitable basis, 1.Takes note with appreciation of the report of the Working Group on the Charter of Economic Rights and Duties of States and of the comments made thereon as reflected in the report of the Trade and Development Board on its thirteenth session; 2.Decides, in the light of the progress achieved, to extend the mandate of the Working Group as established by resolution 45 (III) of the United Nations Conference on Trade and Development; 3.Further decides that the Working Group shall hold two sessions in 1974, each of three...
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...INTRODUCTION A sovereign wealth fund (SWF) is a state-owned investment fund investing in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such as private equity fund or hedge funds. SWFs are invested globally. Central banks use their foreign-exchange reserves or revenues from commodity exports to fund these investments. The three main characteristics of SWFs are 1. To maximize long-term returns using foreign exchange reserves 2. To serve the short-term "currency stabilization" 3. Liquidity management SIGNIFICANCE AND IMPORTANCE OF SOVEREIGN FUNDS OBJECTIVES OF SWFS SWFs are created from budgetary surpluses where the governments have no international debt. In countries where such liquidity is not possible, such as the nations that depend on raw material exports, the main objective for creation of SWF is for controlling high volatility of resource prices, unpredictability of extraction, and exhaustibility of resources. STABILIZATION SWFS The SWFs that are created to reduce volatility of government revenues, to counter the boom-bust cycles' adverse effect on government spending and the national economy are called Stabilization SWFs. SAVINGS SWFS These SWFs are created to build up savings for future generations. Resource curse SWFs can help avoid resource curse in resource-rich countries. Governments may be able to spend the money immediately, but risk causing the economy to overheat, e.g., in Hugo...
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...Declaration of the United Nations Conference on the Human Environment The United Nations Conference on the Human Environment, having met at Stockholm from 5 to 16 June 1972,having considered the need for a common outlook and for common principles to inspire and guide the peoples of the world in the preservation and enhancement of the human environment, Proclaims that: 1. Man is both creature and moulder of his environment, which gives him physical sustenance and affords him the opportunity for intellectual, moral, social and spiritual growth. In the long and tortuous evolution of the human race on this planet a stage has been reached when, through the rapid acceleration of science and technology, man has acquired the power to transform his environment in countless ways and on an unprecedented scale. Both aspects of man's environment, the natural and the man-made, are essential to his well-being and to the enjoyment of basic human rights the right to life itself. 2. The protection and improvement of the human environment is a major issue which affects the well-being of peoples and economic development throughout the world; it is the urgent desire of the peoples of the whole world and the duty of all Governments. 3. Man has constantly to sum up experience and go on discovering, inventing, creating and advancing. In our time, man's capability to transform his surroundings, if used wisely, can bring to all peoples the benefits of development and the opportunity to...
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...people and become a model for countries around the globe. American federalism is defined by the United States Constitution as a “fundamental aspect of American government, whereby the states are not merely regional representatives of the federal government, but are granted independent power and responsibilities” (USA, Constitution). However this definition is constantly changing and took a long bumpy road to get where it is today. The United States constitution was drafted on September 17th, 1787 and ratified on June 21st, 1788. The United States became a sovereign nation on July 4th, 1776 at the signing of the Declaration of Independence, but they needed a Constitution. The Articles of Confederation were drafted on November 7th, 1777 and ratified on March 1st, 1781. This document was signed by the thirteen original colonies that made up the United States of America and served as its first constitution. After becoming sovereign nation it became clear to many that the Articles of Confederation would not be able to hold a nation together. Under the Article of Confederation there was a unicameral legislative that provided no separation of power. The central government appeared to be too weak because under the Articles of Confederation most of the power was retained by the states. Congress had no power to tax therefore, they were unable to finance their operations. It was also extremely difficult to amend the Articles of Confederation because it needed unanimous approval from all states...
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...Spanish financial crises 1. Spain’s Debt Problem The financial crises of Spain can be described as the sovereign debt problem, which is a large and continuous budget deficit feeding into its accumulated debt. From figure 1 we can see that fiscal consolidation hadn’t successfully made a recovery (see figure 1). Schwartz (2013) quoted that the net increase in debt in 2013 is expected to be €48 billion (HK$480 billion) and the gross issue of public debt €207.2 billion (HK$2085 billion). These are large sums compared with Spain’s GDP of €1.05 trillion (HK$10.69 trillion) 1. Figure 1 Source: Banco de España, General government liabilities. Excessive Deficit Procedure (EDP) debt, 11.6. Debt according to the excessive deficit procedure (EDP) and financial assets held by general government; http://www.bde.es/webbde/es/estadis/infoest/a1106e.pdf ------------------------------------------------- 1. Pedro Schwartz (2013), The Welfare State as an Underlying Cause of Spain’s Debt Crisis, Cato Journal, Vol. 33, No. 2 Actually before financial crises, Spain had experienced a long period of high economics growth. At the end of 2007, the fiscal position of Spain performed excellent. According to Eurostat, it was better than in the other three largest euro area member states Spain had a consolidated total government budget surplus of 1.9 percent of GDP, the third highest after Finland (5.2 percent) and Luxembourg (3.7 percent). But in fact it produced...
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...* Constitution is sovereign * Constitution is stable and permanent * Well defined and can be easily interpreted (single document) * Citizens will feel more at ease because true power lies with constitution not parliament | United Kingdom (UK) * Parliament is Sovereign * Able to adapt to changing social and political environment * Not liable to revolutionary or violent changes * Constitution can be altered during and after the emergency period | Disadvantages: * It is rigid, only reflects the national mind at one particular period. * Does not allow growth and change. | Disadvantages: * Not suited for all nations. | Reasons: * Malaysia is relatively young nation, has much to learn * Not as stable and mature as UK | Reasons: * UK is politically and socially stable nation. * Democracy in UK is not an issue because UK’s law is based upon precedent and tradition. | 3. Are we allowed to amend constitutions? Briefly explain (how and where) Yes, because it is an extremely complicated undertaking as it is within the constitution because it is meant adherence to the procedures that are both complicated and onerous. It is also subjected to four categories, as provided by Article 159 and Article 161[e], in which the Constitution can be amended by Federal Law. * Certain provisions may be amended only by a two-thirds (Article 159[3]) absolute majority in each House of Parliament (Dewan Rakyat & Senate) but only if the Conference of Rulers consents...
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...“Constitutional reform since 1997 has not gone far enough.” Discuss. I agree with the view that constitutional reform since 1997 has not gone far enough to a large extent. The House of Lords Act of 1999 has reformed the House of Lords, the Human Rights Act of 1998 was an important area of constitutional reform, as well as the Freedom of Information Act of 2000 and the devolution of powers. The electoral system used in the UK has also been subject to discussion over reform however all constitutional reform can be said to have not gone far enough. The House of Lords Act of 1999 removed all but 92 hereditary peers from the House of Lords. This meant that the House of Lords could be seen as more legitimate as both unelected and not appointed peers would be seen as undemocratic and illegitimate. The removal of hereditary peers means that the House of Lords are more confident in their role in scrutinising and blocking legislation as they feel more legitimate. An example of the House of Lords exerting this role is the blocking of NHS reform which led to the government rethinking and amending plans, as well as the Hunting Act 2004. However reform of the House of Lords could be said to have not gone far enough, 92 hereditary peers still remain in the House of Lords, and the Liberal Democrats call for a wholly elected upper chamber, to make Parliament fully accountable. The House of Lords are also limited in the fact that they can only delay legislation for up to a year and therefore...
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...June 10, 2014 KENNETH S. ROGOFF CURRICULUM VITAE Economics Department, Littauer Center, Harvard University, Cambridge MA 02138-3001, 617495-4022, FAX: 617-495-7330, email: krogoff@harvard.edu Webpage: http://scholar.harvard.edu/rogoff Birth date: March 22, 1953 Married to Natasha Lance Rogoff, two children (Gabriel and Juliana) EDUCATION Massachusetts Institute of Technology, Ph.D., February 1980 Doctoral Dissertation: Essays on Expectations and Exchange Rate Volatility. Yale University, B.A./M.A. summa cum laude, Honors in Economics, May 1975. PROFESSIONAL POSITIONS Professor of Economics, Harvard University, September 1999 – present; Thomas D. Cabot Professor of Public Policy, January 2004 – present. Chief Economist and Director of Research, International Monetary Fund, 2001–2003. Director, Harvard Center for International Development, 2003–2004. Professor of Economics and International Affairs, Princeton University, 1992–94; Charles and Marie Robertson Professor of International Affairs, 1995–1999. Professor of Economics, University of California at Berkeley, 1989–1991. Associate Professor of Economics, University of Wisconsin-Madison, 1985–1988. Economist, International Finance Division, Board of Governors of the Federal Reserve System, 1980–1983; Section Chief, Trade and Financial Studies Section, 1984. Economist, Research Department, International Monetary Fund, Oct. 1982 – Sept. 1983. VISITING POSITIONS BP-LSE Visiting Centennial Professor, London School...
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...Modern Russian Foreign Policy In the 20 years since the fall of communism, Russia has seen tumultuous times. In a relatively short period of time, a former world superpower has suffered through dramatic changes – some positive, and some painful. The 1980s ultimately brought about the fall of communist U.S.S.R, the 1990s showed the world the phoenix-like rise of democracy from the ashes of communism, and the 2000s have now shown us the rise of autocracy, or “sovereign democracy” , wrapped in a Russian flag. The Russian state that enters into this new decade is an entirely different state than that of its communist, or even democratic, predecessors. Such quick, drastic changes and Western inexperience in dealing with Russia’s new form of democracy has left Western governments sometimes scrambling to find a proper response to the actions of a Russia which they do not understand. The foreign policy and resulting actions of 21st century Russia are often misinterpreted by Western powers as those of a belligerent and sometimes antagonistic state. Western media also often does not understand and does not accurately convey Russia’s foreign policy goals to the public, sometimes deciding to demonize Russia and capitalize on the fact that much of the Western populace sees little distinction between the actions of modern Russia and those of the Soviet Union. Miscalculated Western foreign policy leads to nearly the same situation inside of Russia, where an antagonistic West can only...
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...The International Bank for Reconstruction and Development (IBRD) and International Monetary Fund (IMF) were established by delegates at the Bretton Woods conference in 1944 and became operational in 1946.[4] The IBRD was established with the original mission of financing the reconstruction efforts of war-torn European nations following World War II, with goals shared by the later Marshall Plan. The Bank issued its inaugural loan of $250 million ($2.6 billion in 2012 dollars[5]) to France in 1947 to finance infrastructure projects. The institution also established its first field offices in Paris, France, Copenhagen, Denmark, and Prague in the former Czechoslovakia. Throughout the remainder of the 1940s and 1950s, the Bank financed projects seeking to dam rivers, generate electricity, and improve access to water and sanitation. It also invested in France, Belgium, and Luxembourg's steel industry. Following the reconstruction of Europe, the Bank's mandate has transitioned to eradicating poverty around the world. In 1960, the International Development Association (IDA) was established to serve as the Bank's concessional lending arm and provide low and no-cost finance and grants to the poorest of the developing countries as measured by gross national income per capita.[2][6] The IBRD began investing in development projects such as the Japanese high-speed railway system in 1964. In 1971, the IBRD set up an agricultural scientific research partnership organization to promote research...
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...In the context of IPE, what is globalisation? To what extent has the authority of nation states been eroded by globalisation? Discuss with reference to any OECD country. IPE and Globalisation In order to explain globalisation in the context of International Political Economy (IPE), I will begin by discussing the frameworks that IPE uses to describe the social constructs upon which human society is based. This discussion will then extend to issues pertinent to the essay question, including the concepts of globalisation, the nation state, authority and sovereignty, and the extent to which a nation state’s participation in a globally interdependent system influences that nation state’s authority. IPE connotes a multidisciplinary method of enquiry to explain the ever-changing relationships between states, markets and societies across history and in different geographical areas. IPE includes a political dimension that accounts for the use of power by a variety of actors including individuals, domestic groups, states, international organisations, NGO’s, and transnational corporations. IPE also involves an economic dimension that deals with how scarce resources are distributed among individuals, groups and nation-states. (Ballam and Dillman, 2011, p7) To place globalisation within the context of IPE, one must view the concept in terms of the causes and effects of the world market economy, the relationship between 2 economic and political change, and the significance...
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...preoccupied with its domestic affairs should seek to apply the pattern of these to international affairs. But the very success of the American experiment and the spontaneity of our social institutions have served to emphasize the dilemma faced at some stage by every country: how to reconcile its vision of itself with the vision of it as seen by others. To itself, a nation is an expression of justice, and the more spontaneous has been the growth of its social institutions the more this is true; for government functions effectively only when most citizens obey voluntarily, and they will obey to the extent that they consider the demands of their rulers just. But to other nations, a state is a force to be balanced. This is inevitable because national strategy must be planned on the basis of the other side’s capabilities and not merely a calculation of its intentions. There exists a double standard; therefore, in all foreign policy is justified like all other policy in terms of an absolute standard; but abroad, what is defined as justice domestically becomes a program to be compromised by negotiation. If the institutions and values of the states comprising the international order as sufficiently similar, this incommensurability may not become apparent. But in the revolutionary period like the present, it affects profoundly relationships among states. Foremost among the attitudes affecting our foreign policy is American empiricism and its quest for methodological certainly: nothing...
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...History of the Treaty of Constitution for Europe – TCE: The establishment of a Treaty of Constitution for Europe (TCE) was a treaty attempting to create a solid constitution for the European Union that was unratified. The ideia was replace the current European Union treaties with a Constitution text, with legal force to the Charter of Fundamental Rights and expand Qualified Majority Voting into policy areas. The Treaty was actually signed on October 2004 by representatives of 25 member states and was later ratified by 18 member states. Spain and Luxembourg made referendums that approved the measure. As a consequence of the rejection of the project by France and Netherlands referendums the ratification process was ended. The Lisbon Treaty, that entered into force on 2009, replaced the Constitutional Treaty after some period. A lot of changes that were in the Constitutional text were add in the existing treaties as amendments. Inicial steps: The new debates on the future of Europe bagan at the Laeken European Council 2001, when former French President proposed to draft a Constitution. A European Convention was founded, chaired by the same former French President Valéry Giscard d'Estaing and composed of two Members of Parliament (generally one from the governing majority and one from the opposition) of each Member State, 16 MEPs, 2 members of the European Commission and a representative from each government. Then, the President of the European Commission backed...
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...standard (mainly that a weakened Great Britain had to take the leading part and that a number of main currencies where over- or undervalued) led to a collapse of the economic and financial relations, peaking in the Great Depression in 1929. Every single country tried to increase the competitiveness of its export products in order to reduce its payment balance deficit by deflating its currency. This strategy only led to success as long as a country was deflating faster and more strongly than all other nations. This fact resulted in an international deflation competition that caused mass unemployment, bankruptcy of enterprises, the failing of credit institutions, as well as hyper inflations in the countries concerned. In the 1930s several conferences dealing with the world monetary problems caused by the Great Depression had ended in failure. But after World War II the need for a stabilizing system that avoided the mistakes, which had been made earlier, became evident. Plans were made for an innovative monetary system and a supervising institution to monitor all actions. (D ammasch, S. (n.d.). The system of bretton woods: A lesson from history. Retrieved November 26th, 2010. Website http://www.hiddenmysteries.org/money/policy/b-woods.pdf) Though it came on the heels of the Great Depression and the beginning of the end of World War II, the Bretton Woods system addressed global ills that began...
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...Report On Cross National Integration & co-operation for Economic Development COURSE NO: 304 Course Title: Development Economics Date of Submission: 03/12/2011 MEMBERS OF THE GROUP SL. NO. NAME IDNO /EXAM. ROLL REMARKS 01 MD. Sarwar Alam (L) ID: 08302123 02 MD. Salah Uddin ID: 08302110 03 Mohammad Istiaque Bin kalam ID: 08302122 04 MD. Yeasin Bin Faruque Bhuyan ID: 08302129 05 Hasan Bin Hider ID: 08302031 06 Nilima Sabnam ID: 08302006 07 MD. Fida Hasan Bhuyan ID: 08302056 08 Jewel Aich ID: 08302077 09 Sakib Rahman ID: 08302045 10 Sharmin Sultana ID: 08302060 11 MD. kamrul Hossen ID: 08302094 Letter of Submission November 22, 2011 To, Mr. Md. Abul Basar Assistant Professor Department of Management Studies University of Chittagong. Subject: Submission of report. Dear Sir, We are submitting to you the Term study report titled “Cross National Integration & Co-Operation for Economic Development” in the context of different countries socio economic co-operation and integration that we requested. The report has been prepared as fulfillment of the partial requirement of our course “Development Economics (304)”. In preparing our report, the relevant information is collected and integrated accordingly. It is a matter of pleasure for us to have you as a supervisor of our theoretical with pragmatic experience, which is an integral...
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