International Relations

Africa is home to approximately 1.4 billion people[1], about 16 percent of the world’s population, yet its continental share in global trade remains below 3 percent[2], according to the World Trade Organization (WTO). This suboptimal proportion of world trade is compounded by Africa's limited intra-continental trade. During the 26th Africa Business Conference (ABC) held at Harvard Business School (HBS) on the 17^th of February 20, 2024, industry experts, policymakers, students, faculty members, and entrepreneurs converged to interrogate these concerns and explore opportunities for improving intra-African trade. 

Ownership of reforms by citizens is often presented as important for success. This paper explores media engagement and support for economic reforms in the Gulf Cooperation Council (GCC) countries using text analysis techniques on publicly available sources. Results show that while reform efforts have intensified in recent years in the GCC, these efforts tend to focus on stronger rather than weaker policy areas, potentially limiting the growth-enhancing effect of reforms. Social media analysis using Twitter shows that the population’s support for reforms has been declining. The analysis of traditional
news media points to more engagement by international than by local media. However, sentiment from international media is less positive about economic reforms in the GCC. Sentiment in international media and social media matters, as evidenced by its positive and strong correlation with FDI inflows into the GCC.

Capital Choices analyzes the creation of different SWFs from a comparative political economy perspective, arguing that different state-society structures at the sectoral level are the drivers for SWF variation. Juergen Braunstein focuses on the early formation period of SWFs, a critical but little understood area given the high levels of political sensitivity and lack of transparency that surround SWF creation. Braunstein’s novel analytical framework provides practical lessons for the business and finance organizations and policymakers of countries that have created, or are planning to create, SWFs.

Recap of MEI event "Egypt: Lumbering State, Restless Society."

Recap of MEI event "Egypt: Lumbering State, Restless Society."

In late 2017, Mexico made headlines as Italian company Enel bid what was then a world-record low price for renewable energy in the country’s third such energy auction. This development was possible due to the historical and sweeping energy reforms passed with broad support in Mexico in 2013. Then-President Enrique Peña Nieto had succeeded where previous Mexican presidents had failed, reversing decades of resource nationalism and overhauling the energy sector through constitutional reforms that gave the private sector a larger role and advantaged renewable energy in Mexico’s economy. The 2017 auction seemed to indicate Mexico’s bright future not only as a conventional oil producer, but also as a clean energy power.

Stephen Walt analyzes the U.S. and European responses to Russia's aggression.

Digital development has the potential to made the international development ecosystem more dynamic and data-driven. But it may also fail to achieve its primary goal of reducing poverty if it reinforces Big Tech's power in emerging markets.

It has become impossible to read conflicts in North Africa and the Middle East in isolation, as regional powers like Saudi Arabia, UAE, Iran, Israel and Turkey weigh in across the region. Likewise, migration, energy, security and climate dynamics have generated indissoluble ties between North and Sub-Saharan Africa, the Gulf and the Horn of Africa as well as between the Eastern Mediterranean and the broader Middle East. North Africa and the Middle East have become a much wider and more heterogeneous geographical space, in which different thematic issues interlock.

The geopolitical and geo-economic forces wrought by the coronavirus pandemic, as examined previously in this series, are likely to slow the transition to a more sustainable global energy mix. Fortunately, the pandemic has also resulted in governments gaining vastly greater influence over whether this shift stalls or accelerates.