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ICC Research Foundation Unveils Initial Results of Research on Global Trade and Investment.
The initial results of the first three research projects supported by the ICC Research Foundation were presented and discussed, at a gathering of leaders from business, government and academia in New Delhi on 4-5 December, 2009. Project leaders from the World Trade Organization, Harvard Business School, and the IMD business school introduced and led discussions on: trade and employment, the future of market capitalism, and rethinking sustainable growth.
The two-day Forum, on the theme “Globalization and Inclusive Growth”, was organized by ICC India and the Federation of Indian Chambers of Commerce and Industry (FICCI), with participation of over 100 corporate chairmen and CEOs from Asia, the Middle East, Europe, North America, and India.Click here to read more.
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- Peterson Institute for International Economics – project to evaluate trade and employment policy responses of the recession which began in 2007-08:
Description:
- Focus on the countries most severely affected by the 2008 recession, namely the nations (members of the G7) which experienced the largest decline in global trade, the greatest worsening of labour markets, and the biggest deterioration of government fiscal positions.
- Describe and critically evaluate the trade and employment policy responses in major economies, with a focus on fiscal costs, targeted labour market groups, and impacts on employment.
Policies to be evaluated include: o Trade Policies: examine the effects of “Buy country X” provisions, surge in anti-dumping actions, o Employment Policies: analyze the scope and impact of employment policies used; assess whether more successful employment policies have been associated with less frequent resort to discriminatory and protectionist trade measures.
- World Trade Organization (WTO) - International Labour Organization (ILO) joint project on “Making globalization socially sustainable”.
This project is a continuation of work supported by the Foundation in 2009, which enabled the WTO and ILO research teams to organize an expert “scoping” workshop on the links between trade and employment. This new project focuses on the priority issues identified by experts at this workshop. Further details on the workshop are available in the Research section of the Foundation website. Description:
There is a shared sense that globalization is a powerful engine that has already contributed to lifting many out of poverty and that, if properly harnessed, could further promote growth and development to the benefit of all. For many years, however, concerns have been raised regarding certain effects of globalization on jobs, wages and job insecurity. In this context, a number of observers have come to question the sustainability of globalization from a social point of view. Calls for a more inclusive globalization have become more frequent, but only a few concrete proposals have been put forward. The papers prepared by leading researchers will analyze the various channels through which globalization affects jobs and wages and examine how trade and employment policies could contribute to making globalization socially sustainable. Topics covered in the expert papers will include:
- Chapter 1: Globalization as a driver of job creation
- Chapter 2: Job destruction during the economic and financial crisis
- Chapter 3: Recovery after the crisis
- Chapter 4: Globalization and economic volatility
- Chapter 5: Globalization and perceived job insecurity
- Chapter 6: Social protection for those vulnerable to shocks
- Chapter 7: Evidence on the evolution of within country inequality
over the past century
- Chapter 8: Redistribution policies in a globalized world
- Chapter 9: Skill policies to make globalization more inclusive
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- Harvard Business School workshop on future of the market economy: 
Joseph L. Bower, Professor of business administration at the Harvard Business School, is leading a project that examines the future of market capitalism in the context of the current financial and economic crisis. The focus is on the implications for business of the regulatory, financial and political developments which are likely to emerge as governments and multilateral organizations implement measures to deal with the crisis and its aftermath. The project mobilizes intellectual contributions from numerous specialists for a workshop that convened 50 CEOs of international companies, academics and representatives of multilateral organizations at the Harvard Business School in October 2009. An initial report on the workshop discussions can be found below. Further results will be added as they become available. The workshop included the following elements:
- Expert papers on key issues to guide the discussions
- Case studies documenting examples of leading business practices by multinational companies which can assist others in adapting to the challenges and opportunities of the economic crisis
- An economic projection of the consequences of the financial crisis will be developed and provided to participants in advance of the discussion, based on data which includes developments over the last year
- Discussions by participants will converge on adoption of an “Action Agenda”, which can be the basis of recommendations to governments, multilateral organizations, and the business community
Read more about this event [more]
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- IMD-Evian Group project on sustainable economic growth: The research conducted by leading academic specialists, led by Evian Group founder Professor Jean-Pierre Lehmann, focuses on how the overall objective of “peace and prosperity through world trade” can be renewed in view of economic power shifts which have occurred over the last few decades. The research papers will explore how the objective of inclusive growth from global trade can be pursued through the current crisis and over the next decade. The research focus includes:
How the multilateral trading system can adapt to the economic power shifts occurring in the world, to pursue the objective of inclusive growth from an expansion of global trade
The imperative of creating a more inclusive global community and, specifically, the role of business leadership in that process
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