1、International policy coordinationInternational policy coordination小组成员：冯小楠，应畅，曹筱璇，徐丹，李雅雯，黄俊祺，王悦Case 1.The foreign exchange crisis 2.The Fiscal and Monetary Policy Coordination in European Debt Crisis 3.Carbon Emissions 4.International Cooperation in Anti-corruption The foreign exchange crisis failur
2、e in international policy coordinationYing ChangYing ChangClass 1 Department of Finance ERMPurpose:limit or narrow the fluctuation of foreign exchange rateEuropean ExchangeRateMechanism(欧洲汇率体系）1990 German reunionThe tremendous inflation pressureImprove its rate(betray ERM)Decrease the expected retur
3、n of British currencyContribute to the deprecation of pound.Result?German:implement the inflation policy to decrease its rate.Britain:implement the deflation policy to increase its rateorGerman bank:the purpose of is to restrain the currency inflation never decrease its rate.Britain bank:suffered fr
4、om the depressionnever increase its rate.plightinternational speculatorssold out pound vastly bought markthe greater deprecation of pound also spread to other ERM countriesBritain forever quitted the ERM to enact its own currency policy.Pros of ERM:l internalize exchange policy externalities,l get t
5、he most out of a limited number of policy instrumentsl gain the support from abroadCons of ERM:l policy coordination may entail national sacrifice.l Other countries may not be trustworthy.l Other policymaker could be incompetent.l Successful coordination can sometimes be counterproductivePast Presen
6、tThe Fiscal and Monetary Policy Coordination in European Debt CrisisFeng XiaonanFeng XiaonanClass 1 Department of Finance 欧债危机欧洲主权债务危机政府的债务超过了自身的承受范围，而引起的违约风险European debt crisisThe sovereign debt crisis the scale of debts exceeded bearing capacity of the government，thus resulting in default riskCri
7、sis in Greece美国标准普尔公司 穆迪投资服务公司 惠誉国际信用评级有限公司下调希腊主权信用评级 America standard Pool Co,Moody investment Service Corporation,Fitch ratings.Spread in Euro-zone1 Governments leveraged measures in financial crisis brought the debt burden for themselves.金融危机中政府加杠杆化使债务负担加重2 Rating agencies adjusted rating relativ
8、e-correctly without the constraints from the western countries.评级机构不再受西方国家约束，正确调整评级3 Industry structure was out of balance with fragile economic development&real economy hollowing-out.产业结构不平衡：实体经济空心化，经济发展脆弱4 Rigid social welfare system.刚性的社会福利制度5 Population structure unbalancing with entering the ag
9、ing gradually.人口结构不平衡：逐步进入老龄化6 Divergences among the major countries about rescue policies.法德等国在救援上的分歧令危机处于胶着状态Why in GreeceContrastive analysis with textbook1 Internalizing international policy externalities.2 Getting the most out of a limited number of policy instrument.3 Gaining support from abro
10、ad.Solution with cooperationhttp:/ with cooperationSolution with cooperationContrastive analysis with textbook1 Internalizing international policy externalities.2 Getting the most out of a limited number of policy instrument.3 Gaining support from abroad.Divergences reappear nowThe euro-zone united
11、closely when faced with crisis.Though pressures on the Euro have relaxed,with members freed up to fight for national interests,divergences among representatives on the ECB Board have been deepening.Directions in the future1the stability pact should be complied with.2with the growth of Euro-zone,the
12、simplistic stability pact may no longer suit Europe.3the new commission should go further.Leaders should still try their best aiming in policy cooperation and coordination.THX！Carbon EmissionsHuang Junqi&Cao XiaoxuanHuang Junqi&Cao XiaoxuanClass 1 Department of Finance Part 1:The United Nations Clim
13、ate Change Conferenceframework：1.the United Nations Framework Convention on Climate Change（UNFCCC）2.Kyoto ProtocolPart 2:e.g.The Copenhagen summit 1.outcome&aftermath 2.reasons Aim:reduce global carbon emissionPart 3:Two examples of carbon emission reduction1.Carbon emissions trading2.Global Environ
14、ment Facility(GEF)全球环境基金Part 1:Part 1:United Nations Climate Change ConferenceUnited Nations Climate Change ConferenceFramework Framework AimAimFramework：1.The United Nations Framework Convention on Climate Change（UNFCCC）2.The Kyoto ProtocolAim：reduce greenhouse gas emissionsPart 1:The United Nation
15、s Climate Change ConferenceUNFCC&Kyoto ProtocolUNFCC&Kyoto Protocolinternational environment treatiesobjective:stabilize greenhouse gas concentrationsrelationship：The UNFCCC sets no binding limits,while Kyoto Protocol doesThe UNFCCC provides a framework for Kyoto ProtocolPart 1:The United Nations Cl
16、imate Change ConferenceCO2 emissions from CO2 emissions from fuel combustion and Kyoto Protocol fuel combustion and Kyoto Protocol targets targets Part 1:The United Nations Climate Change ConferencePart 2:Part 2:The Copenhagen summitThe Copenhagen summitOutcome：The conference did not achieve a bindi
17、ng agreement for long-term actionAftermath:carbon prices droppedPart 2:The Copenhagen summitThe Copenhagen summitThe Copenhagen summit Analyze the reasons:not willing to sacrifice their own interests mutual understanding failed to be built not fully aware of the consequences lack of corporative mech
18、anism and supervision system directly led to weak executive power global recession and conservative domestic pressureThe Copenhagen summitThe Copenhagen summitPart 2:The Copenhagen summitPart 3:Part 3:Examples of International Examples of International Coordination Coordination on Carbon Emission Re
19、ductionon Carbon Emission Reductionl The Carbon Trading Market:$176 billion in 2011 exceed$1 trillion by 2020 many country are creating their own markets,esp.in EU Chinas carbon trading market demand is very limitedExample 1:Example 1:Carbon emissions Carbon emissions trading trading Part 3:Examples
20、 of International Coordination on Carbon Emission ReductionLargest public funder of projects to improve the global environment Achievement:provide$12.5 billion in grants leverage$58 billion in co-financing over 3,960 projects in over 165 countriesPlights:will and allocation of funds varies a lotExam
21、ple 2:Global Environment Facility(GEF)全球环境基金Part 3:Examples of International Coordination on Carbon Emission ReductionInternational Cooperation in Anti-corruptionXu DanXu DanClass 1 Department of Finance Video timeThe Development of International Anti-corruption In 1993 an organaization aiming at pr
22、omoting the international and national anti-corruption activities called Transparency International (透明国际透明国际)was establishedIn 2000 as the first legal document guiding international anti-corruption in the UNs history,UN Anti-corruption Convention（联合国反腐条约）（联合国反腐条约）is very important to promote intern
23、ational cooperation in anti-corruptionExtraditionDifinition:Extradition（引渡）（引渡）is the official process whereby one country transfers a suspected or convicted criminal to another countryImportance：Its an critical institution of international judicial aid.And it guarantees nations to perform their rig
24、ht of competency and punishment to criminasObstaclesLacking of international prevention and coordination mechanismsTaking the non-extradition death penalty into account,only a few countries signed extradition treaty with ChinaMay entailing national sacrifice on national society.MeasuresStrengthening national technicalStrengthening national technical cooperation in tackling corruption cooperation in tackling corruption Improving the system of corruptionImproving the system of corruptionWe still have a long way on fighting aganinst corruption *Thank you！
