Research

Pakistan’s nuclear program and perceived nuclear security concerns have attracted global attention. The varying concerns range from the potential theft of nuclear weapons or materials to the unauthorized use of a nuclear device to terrorist groups taking control of the Pakistani government. The enduring debate, however, has oscillated between these doomsday scenarios and some optimistic considerations, where various quarters have shared their satisfaction over Pakistan’s nuclear security regime and its ability to deal with the emerging challenges. To address the evolving nature of these threats, Pakistan is constantly improving its nuclear security infrastructure. It has established a comprehensive legislative and institutional structure, nuclear security systems, and has also undertaken various international obligations. To further improve nuclear security perceptions, Pakistan should adopt a more transparent approach and learn from international best practices.

Stephen Walt argues that the true value of more diverse decision-making teams and more open political systems is not that they never make mistakes but rather that they make it more likely that policy blunders will be corrected once it is clear they are not working.

For many, integrating “decarbonization” into public policy, corporate and financial strategies has become a requirement, not an option — yet, what happens when the critical link between climate stability and decarbonization breaks?

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.

From trade disputes to digital governance to multilateral institutions in need of reform, the incoming Biden Administration faces a full international economics policy agenda. Rising U.S.-China tensions will exacerbate these policy challenges as the world’s two largest economies compete for economic power and global influence. This fall, the Belfer Center’s Economic Diplomacy Initiative, led by Aditi Kumar, Nicholas Burns, and Lawrence H. Summers, hosted a series of discussions examining the U.S.-China economic relationship.  

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.

For most people, there was nothing to celebrate when the International Monetary Fund downgraded its outlook for global economic growth in June, anticipating a contraction of 4.9% for 2020. Yet for others, such as the small but persistent group of economists and others known as the “degrowth movement,” the Covid-induced economic slowdown has a silver lining.

The search for silver linings to the coronavirus pandemic has come up woefully short. But one hopeful — and much talked of — prospect is that the disruption will accelerate the global shift to a more sustainable energy future.

As economies begin to orient themselves towards recovery and growth in a post-COVID-19 era, they will first need to disentangle themselves from their prior bedfellows, the state, whose courtship was necessary for survival during the pandemic.  Such bedfellow relationships have become increasingly common as government intervention is urgently needed for economic stabilization. Governments have also embraced their new role with vigor. According to the IMF, as of April 2020, countries have committed around $8 trillion to combat the pandemic and to remedy its ill effects on economies and societies. Decisions about how this money will be spent will undoubtedly recalibrate the logic of capitalism for years to come. 

This policy brief describes the persistent challenge of poor electricity reliability in India and how it interacts with key regulatory policies, analyzes Delhi’s experience with outage compensation since 2017, and highlights areas for additional economic and policy research on this topic.