|Issue #50 - July - September 2016 - Welcome to the Vi quarterly newsletter|
Four new Vi members this quarter
The University of Kigali (UOK), the first Vi member from Rwanda, joined the Virtual Institute July 15. Created in 2013, UOK offers Bachelor's programmes in economics, business administration, information and communication technology, and law. It also offers Master's programmes in economics, business economics, applied business economics, and law. New Master's programmes in international cooperation and development, and in the fields of statistics, tourism management, and data communication and cyber security, as well as PhD programmes are in the works. Academic staff has undertaken research in economics, business administration and management, focusing on topics such as FDI, regional integration and trade, macroeconomics, energy and resource economics, and poverty eradication.
Associate professor, Caleb Tamwesigire, formerly of Vi core member, Makerere University Business School, will coordinate the cooperation with the Vi through the School of Postgraduate Studies. He holds a PhD in business administration, teaches courses on international economics and trade, regional economic integration and cooperation, and has recently been researching aid and economic growth/development in developing countries. Also involved in the cooperation with the Vi are colleagues, Bernadine Bukomeko and Alexis Manzi.
The Istanbul Commerce University (ICU) became the Vi's 62nd core member August 2. Founded by the Istanbul Chamber of Commerce in 2001, the university provides Master's in international trade, commercial diplomacy, global marketing and brand management, and in international trade and the EU law, as well as PhD programmes in international trade, and in internatıonal trade and the EU law. Relevant courses are also taught by the Institute of Finance and the Institute of Social Sciences.
ICU's research topics include bilateral and regional trade of Turkey; corporate social responsibility; globalization; macroeconomic and international economic policies; industrial policy; tourism services; effects of commodity/oil price shocks; economic integration; the relationship between FDI, export and economic growth; effects of exchanges rates on exports and imports of emerging countries; and effects of the global economic crisis on gender.
The cooperation of ICU with the Vi will be coordinated by its Vice-Rector and Director of the Institute of International Trade, Saduman Okumus. Holder of a PhD, she teaches a course on the international financial system. Her recent research has focused on the Turkish financial system, Islamic banking, and the use of microfinance for poverty alleviation. Also participanting in the cooperation with the Vi is Ahmet Oguz Demir, Director of ICU's EU Research Center.
The University of Kibabii (KIBU) joined the Vi August 4, the third university to represent Kenya in the network. Established in 2011, the university offers Bachelor's programmes in commerce and in business management, and a Master's programme in business administration. It also offers short courses in investment, management and leadership. Bachelor's programmes in economics, in business information technology, and in cooperative management and enterprise development, along with Master's programmes in economics, and in international trade policy and trade law, are planned for this year.
KIBU's research topics include international finance, investment, trade, ICT for development, science and technology policies, enterprise development, development finance, supply chain management, trade and poverty, and the environment.
Chairman of the Departmental Graduate School Committee, Muganda Munir Manini, has been named Vi member coordinator at KIBU. Holder of a PhD in business administration, he teaches courses on international and public finance, financial economics, and monetary theory and practice, among others. His recent research focuses on determinants of economic growth in Kenya, fiscal policy and unemployment, and finance for SMEs. Also involved in Vi activities are SOBE's Dean, Kadian Wanyama Wanyonyi; Chairman of SOBE's Department of Business Administration & Management, Kennedy Ntabo Otiso; Chairman of the Department of Economics, Finance & Accounting, Brian Wanyama Singoro; and Dean of the School of Computing & Informatics, Franklin Wabwoba.
To close the quarter, a second university from Azerbaijan, Western University (WU), joined the Vi August 4. Founded in 1991, WU offers Bachelor's programmes in economics and finance; Bachelor's and Master's programmes in international economics, international relations, regional studies, business administration, and tourism and hotel management; Master's programmes in banking, insurance, legal regulation of the economy, business management, and tourism economics; and PhD programmes in international economics, regional economy, international relations, and fiscal policy and public finance.
WU's research topics include new trends in sustainable human development and the monitoring of this process; the impact of natural, economic and social environment on sustainable human development; regional discrepancies in the level of human development; and gender aspects of human development, women empowerment and mainstreaming gender policies in national development strategies.
Vi member coordinator, Afag Hasanova, holds a PhD and is a senior lecturer at the School of Business Administration. She teaches courses on international economics, economic integration, international economic relations, international trade, international business management, commercial diplomacy and development economics. Her research interests revolve around macroeconomic policy, SME promotion, microfinance, and international development. Also involved in Vi activities is Head of the Department of Business Administration,Parviz Gurbanov.
New Vi online course accepts 71 participants
The objective of the course is to provide participants with the empirical tools needed to assess the impact of NTMs on trade and welfare. A hands-on technical course, the emphasis will be on the handling of data and the use of econometric tools.
Co-funded by the Government of Finland, and developed in cooperation with UNCTAD's Division on International Trade in Goods and Services, and Commodities (DITC), the course will be delivered by Marco Fugazza, of the Trade Analysis Branch.
UNCTAD's WIR topic of this quarter's Vi videoconferences
The first videoconference, held September 13, gathered 31 lecturers and students from Colombian core member, Universidad EAFIT, as well as another 50 or so from affilliate members, Universidad de La Sabana and Universidad Sergio Arboleda, joining the discussion via webcast. The presentation was delivered by Stephania Bonilla-Féret, of UNCTAD's Division on Investment and Enterprise (DIAE).
"Foreign Direct Investment (FDI) flows increased by 38 percent in 2015,” she said. "After three successive years of contraction, FDI inflows to developed countries bounced back sharply to the highest level since 2007, driven mainly by exceptionally high cross-border M&A values."
Regarding the regional distribution of FDI, the WIR reports that eight of the 20 top recipients are developing countries, and six made the top-20 list for outflows, DIAE's Kalman Kalotay told 50 professors and students during the videoconference for Vi Pakistani core member, the Institute of Business Administration, September 23.
"Though Developing Asia received the most FDI in 2015, it was Europe which observed the highest increase in FDI inflows,” Kalotay said.
Still, Kalotay warned that in 2016 it is expected that FDI flows will decrease by 10 to 15 percent, due to stagnating aggregate demand, sluggish growth in commodity exporting countries, and policies that have been adopted to curb tax inversion deals, which inflate FDI numbers.
Vi members network at UNCTAD 14
"I was able to attend UNCTAD 14 thanks to the UNCTAD Virtual Institute, which facilitated the invitation," said Vi Kenyan core member university coordinator, Tabitha Kiriti-Nganga. "In the meeting with the associate members we had a very productive session discussing how they can make use of UNCTAD Vi opportunities in capacity building."
"Professor Kiriti told us that the Virtual Institute had great courses that one could apply for and gain skills in the field of trade," Munyiva said. "We learnt that the Virtual institute helps in shaping the academic courses on trade and development, policy making and its collaboration with the learning institutions enables a wider outreach of the knowledge to be shared."
Virtual Institute Teaching Material on Structural Transformation and Industrial Policy
Module 1, titled "The structural transformation process: Trends, theory and empirical findings," defines a conceptual framework for the analysis of structural transformation, based on both historical and recent patterns of structural transformation in developed and developing economies. It then examines the evolution of development thinking and empirical literature on structural transformation. It concludes by analyzing the role of structural transformation in social and human development, and in particular the relationship between structural transformation and human development as reflected in the Millennium Development Goals.
Module 2, titled "Industrial policy: A theoretical and practical framework for thinking about – and applying – industrial policy," discusses how governments could support the process of structural transformation. After introducing the definitions and concepts related to industrial policy and its design and implementation, it discusses the role of industrial policy in structural transformation, reviewing the arguments in favor and against industrial policy. It provides country and sectoral examples of successful implementation of industrial policy, and discusses the challenges to structural transformation and industrial policy faced by developing countries today. To illustrate both theoretical and empirical aspects of the topics covered, the material uses country case studies, empirical data, and reviews of relevant research papers. It also contains exercises and discussion questions for students.
Virtual Institute Teaching Material on Trade, the Environment and Sustainable Development: Transition to a Low-carbon Economy
Module 1 offers an introduction to the topic by highlighting the linkages between the economy and the environment. It introduces the services provided by the environment to the economy, factors determining the size of human impacts on the environment, underlines the importance of sustainable economic systems, and concludes by discussing the role of trade as an enabler of sustainable development and poverty reduction.
Module 2 focuses on the science behind climate change. It introduces the components of the climate system, explains how climate change occurs and in which ways economic activities affect climate, and concludes by reviewing the evidence on observed and anticipated changes in the climate system and their impacts on human and natural systems.
Module 3 introduces readers to the economics of climate change. It explains why climate change is considered the biggest market failure in human history by highlighting the open-access-nature of the atmosphere and the fact that greenhouse gas emissions are negative externalities. It then shows that the reduction of emissions is a global public good, which generates incentives for nations to free-ride, and hampers the implementation of effective solutions to limiting climate change.
Module 4 analyzes the politics of climate change. It discusses the various policy instruments and technological solutions to limit climate change and transform economies into low-carbon economies. It explains that, in parallel with such policies, society also needs to undertake actions to adapt human and natural systems to the anticipated impacts of climate change. To conclude, the module reviews key international climate change policy developments, in particular the Paris Agreement, with a special focus on the situation of developing countries.
Adaptation of Vi teaching material on competitiveness for Tanzania now available for Vi member institution staff
The localization project introduces the reader to the concept of competitiveness, briefly reviewing the literature, and distinguishing between individual-, firm-, industry-, and country-level competitiveness. It then provides an analysis of the status of competitiveness of the Tanzanian economy, classified by the Global Competitiveness Index as a factor-driven economy. Rwehumbiza also discusses how the process of structural transformation and national policies contributed to determine the current status of competitiveness of the economy. The last section reviews some of the policies implemented in two of the most successful cases of fast competitiveness improvements, the Republic of Korea and Taiwan Province of China. The conclusion provides suggestions for policies that could enhance the competitiveness of the country, and potentially of Africa in general.
New multimedia resources on SDGs, investment, NTMs now online
The second resource, Economic analysis of Non-Tariff Measures - A primer, introduces the concepts and issues related to non-tariff measures (NTMs), and surveys research methods used to assess their impact on trade. The multimedia presentation features Vi online course co-authors, Marco Fugazza, of UNCTAD's Division on International Trade in Goods and Services, and Commodities, and Anne-Célia Disdier, of the Institut national de la recherche agronomique.
The last multimedia teaching resource of the quarter, WIR 16: Tackling investor-nationality FDI rules, was filmed during a videoconference for Vi Colombian member universities. Delivered by Stephania Bonilla, of UNCTAD's Division on Investment and Enterprise, the presentation reports findings from UNCTAD's latest World Investment Report.
Trade and Development Report 2016: Structural transformation for inclusive and sustained growth
After an overview of global trends, this year's TDR focuses specifically on structural transformation and industrial policy. Chapters 2 and 3 analyze the trends in structural changes since 1970, and make the case for industrialization and the development of manufacturing industries. It also reviews the role of primary and tertiary sectors in structural transformation. Chapter 4 is centered on the role of trade in manufactures in industrialization, including global value chains and industrial upgrading.
After looking into the links between profits, investment and structural change in chapter five, the report dedicates its last chapter to industrial policy, in particular its scope, the relationship between the state and businesses, tools of industrial policy, and the ways of integrating trade, macroeconomic and structural policies.
Economic Development in Africa Report 2016
In this context, UNCTAD's Economic Development in Africa Report 2016, subtitled "Debt Dynamics and Development Finance in Africa," examines some of the key policy issues linked to Africa's domestic and external debt, and provides policy guidance on the delicate balance between development finance alternatives and overall debt sustainability. In particular, it analyzes Africa's international debt exposure, and how domestic debt is increasingly playing a role as a development finance option in some African countries.
It also examines complementary financing options and how they relate to debt. The report concludes with policy recommendations which address the roles that African governments, external partners and the international community can play in ensuring that Africa's public debt remains sustainable.
World Trade Statistical Review 2016
The report reviews trends in world trade over the past 10 years, assesses world trade developments in 2015 and provides an outlook for early 2016. It also presents an in-depth analysis of the latest trends in the global and regional trade of goods and commercial services. A special chapter is dedicated to the participation of developing countries, and in particular the least developed, in world trade, and the Aid for Trade initiative. The publication concludes with a summary of the main developments in trade-policy making, highlighting the latest data on WTO members' use of trade-restrictive and trade-facilitating measures. These analytical chapters are complemented with comprehensive data on various facets of world trade in goods and services.
World Trade Report 2016
The first three chapters analyze the place of SMEs in domestic economies and international trade, and look into the internationalization processes and their impact on SME performance. Chapter 4 focuses on the trade obstacles to SME participation in trade, concluding that small businesses continue to face disproportionate barriers to trade. The last chapter is dedicated to cooperative approaches to promoting SME participation in trade, highlighting the scope for coherent national and international policy actions that would enhance the ability of SMEs to participate in world markets more effectively.
Development and Globalization: Facts and Figures
The report summarizes the current state of affairs, and highlights key facts and messages for a selection of the 17 SDGs reflecting UNCTAD's mandate -- economic and sustainable development issues with a focus on trade, finance, investment and technology.
The report covers progress on 52 specific SDG targets grouped under 10 of the 17 SDGs, and presents general statistical analysis for all 17 goals. A special note on global and regional population projections and demographic changes is also included.
Vi online course on Trade and Gender scholarships available - Deadline: November 20
Funded by the Government of Finland, the course is based on Volume 1 of the Vi teaching material on trade and gender. The seven-week course, scheduled January 9 to February 26, 2015, particularly encourages applications from qualified women and candidates from sub-Saharan Africa and the least developed countries. Candidates must hold a Master's degree in Economics, Law, Political Science or related area, as well as excellent knowledge of English.
Top course graduates will become part of the UNCTAD trade and gender consultancy roster, and may be considered for future assignments in this area and/or participation in intergovernmental meetings on trade and gender organized by UNCTAD.
Candidates must complete the online application process, as well as submit a current CV and nomination letter from their institution by November 20.
Free online course on trade facilitation
The courses aim to boost intra-African trade and competitiveness in West Africa by enhancing the trade officials and policymakers' understanding of the risks and opportunities of trade facilitation, and translating their knowledge into sound policy reforms. Government officials, policy makers and custom authorities from ECOWAS member-states are eligible to apply.
| Colombian member seeks summer school professors - Deadline November 21|
Vi affiliate member, Universidad de la Sabana, invites Vi members to apply for visiting professorships for its 2017 summer school programme, to be held in Bogota June 5-18.
The series of short courses is aimed at undergraduate students, lecturers and professionals with an interest in topics such as logistics, marketing, sustainability, business, international trade and econometrics.
Vi under new leadership
Vi online course graduate admitted to PhD programme
| New Vi intern|
Hilary Luna Enos-Edu joined the Vi team as Programme Management Intern in September. She recently completed her Master's degree in Global Governance and Ethics.
At the Vi, her responsibilities include developing multimedia teaching resources, contributing to the development of online courses, assisting in the organization of videoconferences and study tours, updating our digital library and online content, and supporting other Vi activities.
Previous issues are available online.
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| The UNCTAD Virtual Institute on Trade and Development is a capacity-building and networking programme aiming to strengthen the capacities of academic institutions in developing countries and countries with economies in transition to teach and research trade issues, and to foster links between research and policymaking.|
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UNCTAD - United Nations Conference on Trade and Development
Division on Globalization and Development Strategies
Palais des Nations
1211 Geneva 10 - Switzerland
Phone: +41 22 917 5823 Fax: +41-22 917 0050
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