Research Library

In a two-part blog, Russell Green, Will Clayton Fellow in International Economics, examines whether a slowdown of China's powerhouse economy will impact the country's global agenda.

On Feb. 24, 2015, public finance fellow John Diamond testified on tax reform before U.S. Senate Finance Committee.

This report suggests the contours of a more comprehensive policy for the United States in the broader Middle East, one that pursues not only important tactical approaches to counter Islamic extremism and terrorism, but also shapes the larger strategic landscape to secure and promote U.S. interests. After defining the challenge for the United States and the international community, the report provides a brief narrative on the rise of ISIS before presenting key policy recommendations for a more strategic approach.

In this paper, author Peter Hartley examines the recent evolution of markets for LNG, focusing especially on the increasing amount of LNG being traded spot or under short-term contracts of less than four-years duration. Hartley argues that explanations for this increase, and other recent changes in LNG trading, imply that the proportion of LNG being traded under long-term contracts is likely to continue to decline and that the flexibility of long-term contracts for trading LNG is likely to continue to increase.

India’s Prime Minister Narendra Modi, once barred from entering the U.S., is getting a rock star welcome on his first trip here since being elected in May. “Am I the only India follower who is bored with Modi’s spectacle of a U.S. visit?” asks international economics fellow Russell Green. “The glitz is fun, but I am an economic policy wonk, and from my perspective, there is little to capture the imagination.”

The Trans-Pacific Partnership Agreement offers an opportunity to deepen U.S.-Mexico economic ties without reopening the still contentious North American Free Trade Agreement for negotiation. It may also serve as a vehicle for advancing the current Mexican government’s economic reform agenda. The leaders of the U.S. and Mexico believe that the TPP will bolster domestic economic growth.

Marijuana decriminalization and legalization have gone past being a trend and are settling in as federal policy, writes nonresident fellow Gary Hale, a 31-year veteran of the Drug Enforcement Administration. This policy brief includes recommendations for how the DEA can adjust its policies to adopt a new paradigm on marijuana policy.

The BRICS clearly want something tangible to demonstrate their global prominence and the power of non-Western values. Russell Green examines the critical issues that must be resolved before the BRICS bank can open its doors.

Talk of a “pivot to Asia” that supposedly would mark President Obama’s second term is “misplaced and even simplistic,” writes fellow Kristian Coates Ulrichsen. In a globalized world, “key U.S. relationships with strategic and commercial partners … cannot be addressed in isolation from one another. The convergence of U.S. ties and Asian ties with the Middle East is a case in point highlights how regions and issues are interconnected as never before.”

Fossil fuel subsidies have allowed energy exporting countries to distribute resource revenue, bolstering legitimacy for governments, many of which are not democratically elected. But subsidy benefits are dwarfed by the harmful consequences of encouraging uneconomic use of energy. Now, with consumption posing a threat to long-term exports, governments face a heightened need to raise prices that have come to be viewed as entitlements. While reforms of state benefits are notoriously politically dangerous, previous experience shows that subsidies can be rolled back without undermining government legitimacy — even in autocratic settings — given proper preparation.