Articles

22 Items

The Bavand, one of two stranded Iranian vessels, sits anchored at the port in Paranagua, Brazil on July 25, 2019. In defiance of U.S. sanctions, Brazil's top court ordered state oil company Petrobras to supply fuel to two Iranian vessels that were stranded off the coast of Parana state since early June (AP Photo/Giuliano Gomes).

AP Photo/Giuliano Gomes

Journal Article - Washington Quarterly

A Financial Sanctions Dilemma

| Winter 2020

Over the last two decades, there has been a dramatic increase in the popularity of financial sanctions as an instrument of US foreign policy to address security threats ranging from weapons of mass destruction (WMD) proliferation and terrorism to human rights violations and transnational crime. Washington’s policymakers have prized these tools for their ability to rapidly apply pressure against foreign targets with few perceived repercussions against American business interests. The problem, however, is that Washington is ignoring a growing tension between financial sanctions designed to support economic statecraft (with non-financial goals) and those designed to protect the international financial system. Confusing the two sends mixed signals to adversaries as well as allies and undermines US credibility and commitment to upholding international banking rules and norms. If Washington cannot reconcile these competing processes, it is unlikely that future administrations will enjoy the same foreign policy levers, leaving the United States at a significant disadvantage.

(Economic Research Forum)

(Economic Research Forum)

Journal Article - Economic Research Forum

Is Oil Wealth Good for Private Sector Development?

| March, 2019

When do autocratic rulers in oil-producing countries support private sector development? We argue that the size of oil rents per capita has an important effect on ruler support for the rule of law, respect for private property rights, and other factors that promote private investment.

Great Decisions Cover

Foreign Policy Association

Journal Article - Foreign Policy Association

The State of the State Department and American Diplomacy

| Jan. 03, 2019

During the Trump administration, the usual ways of conducting diplomacy have been upended. Many positions in the State Department have never been filled, and meetings with foreign leaders such as Kim Jong-un and Vladimir Putin have been undertaken with little advance planning. What effect are these changes having now, and how will they affect ongoing relationships between the United States and its allies and adversaries?

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Journal Article - Global Policy

The Case for Economic Development Through Sovereign Investment: A Paradox of Scarcity?

| Apr. 14, 2018

Sovereign wealth funds (SWFs) have traditionally been created to recycle excess reserves from natural resource or non‐commodity revenues. However, in recent years funds are being established under conditions of capital scarcity with objectives to contribute domestic economic development, often through the buildout of national infrastructure programs. Such trends in new fund creation represent a fundamental shift in the sovereign wealth fund paradigm and raise serious questions about how these entities are to be capitalized and also the implications of capitalization models on their sustainability. This study examines the recent evolution of SWF models focused on economic development. Its analytic focus is drawn, in particular, to countries that are neither endowed with oil wealth, nor otherwise enjoy export surpluses to be used to capitalize a development‐oriented SWF. While this study is relevant to and expands the scope of the broad literature on SWFs, its specific contribution is as a focused analysis of how SWF funding sources impact achieving long‐term financial and socio‐economic development objectives.

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Magazine Article - Corporate Counsel

The Inside Counsel Revolution

| April 2016

The practical ideal of the modern general counsel is a lawyer-statesperson who is an outstanding technical expert, a wise counselor and an effective leader, and who has a major role assisting the corporation achieve the fundamental goal of global capitalism: the fusion of high performance with high integrity and sound risk management. For the lawyer-statesperson, the first question is: "Is it legal?" But the ultimate question is: "Is it right?"

Chinese President Xi Jinping is displayed on a big screen in Beijing as Chinese battle tanks roll by during a Sept. 3, 2015 parade commemorating the 70th anniversary of Japan's surrender during World War II.

(AP Photo)

Magazine Article - The Atlantic

The Thucydides Trap: Are the U.S. and China Headed for War?

| September 24, 2015

The defining question about global order for this generation is whether China and the United States can escape Thucydides’s Trap. The Greek historian’s metaphor reminds us of the attendant dangers when a rising power rivals a ruling power—as Athens challenged Sparta in ancient Greece, or as Germany did Britain a century ago. Most such contests have ended badly, often for both nations, a team of mine at the Harvard Belfer Center for Science and International Affairs has concluded after analyzing the historical record. In 12 of 16 cases over the past 500 years, the result was war. When the parties avoided war, it required huge, painful adjustments in attitudes and actions on the part not just of the challenger but also the challenged.

Gertrude Kitongo poses with her mobile phone in Johannesburg, South Africa. She cherishes a cell phone as a link to family and friends and also sees it as a radio, a library, a mini cinema, a bank teller, etc., Nov. 8, 2011.

AP Photo

Magazine Article - Finance & Development

Africa's New Engine

| December 2011

Cell phone use has grown faster in Africa than in any other region of the world since 2003....Of course, South Africa—the most developed nation—still has the highest penetration, but across Africa, countries have leapfrogged technology, bringing innovation and connectivity even to remote parts of the continent, opening up mobile banking and changing the way business is done.