Addressing the refugee migration crisis via economic policy: evaluation of a tradable refugee-admission quota system

By Tom Perfrement

Tom attended the 2016 World Bank and IMF Annual Meetings in Washington D.C. He is a UNSW Co-op Scholar studying a Bachelor of Chemical Engineering (Honours).

Abstract

The World Bank and International Monetary Fund (IMF) represent a unique concentration of economic power and leadership and can directly influence the response to the global migration crisis.  The number of refugees fleeing Syria has created economic and social pressures in the European Union (EU) where asylum seeker policy has failed to effectively allocate costs and responsibilities. The asymmetry of refugee hosting worldwide may also have created circumstances for further destabilization in the Middle East and extremist violence in Europe and this has led to calls for global action and further EU policy reform.

This policy paper evaluates the potential of a tradable refugee admission quota system (TRAQS) as an economically grounded market-based solution to the refugee crisis. Via a SWOT style analysis, the value of such a system is revealed in cost-efficiency advantages, incentive compatibility and equitability to all participating nations. The inclusive nature of the World Bank and IMF presents an ideal forum to monitor a TRAQS model. Ultimately, implementation must be structured around a number of fundamental legal and institutional principles, including international solidarity.

Read More

Catalysing Australia’s social enterprise sector

By Sam Johnson

Sam represented the UNSW Co-op Scholar program at the 2016 Y20 Summit in China. Sam is studying a Bachelor of Engineering and has worked with Engineers Without Borders. Sam was Australia’s representative for the Poverty Elimination and Joint Development discussions at the Y20.

Abstract 

This paper discusses key policy recommendations to further allow the Australian social enterprise sector to grow and prosper.  Social enterprise is gaining legitimacy as an approach to better solve problems that traditional market based and government approaches have been unable to tackle effectively.  However, despite Australia’s strong potential to be a leader in this area, the Australian social enterprise sector is comparatively undervalued and underdeveloped.  This paper makes two sets of recommendations to strengthen the sector. Firstly, all levels of government need to further incorporate the principles of social procurement into their procurement processes. The paper discusses approaches to this including the inclusion of social benefit causes in traditional contracts and the adoption of legislation similar to the UK Public Services Social Value Act. The second set of recommendations centre on the responsibility of federal government to facilitate access to finance and investment-readying resources for social enterprises through the legislation of a new community company legal form and the creation of an investment fund to catalyse the development of the investment readiness intermediary sector.

Read More

BEPS Project: Effectiveness for Developing Countries and How the World Bank and IMF Can Contribute

By Zoe Diamond

Zoe represented the UNSW Co-op Scholar Program at the 2015 World Bank and IMF Annual Meetings in Washington D.C. Zoe is studying a Bachelor of Commerce (Accounting and Finance). She has taken on industry internships with organisations such as Coca-Cola, Baycorp and the NSW Treasury in pursuit of her keen interest in corporate strategy and finance.

Abstract

Multinational enterprises (MNEs) engaging in corporate tax avoidance (CTA), or base erosion and profit shifting (BEPS) is a global issue. It affects the ability of both developing and developed countries alike to provide collective goods, infrastructure, education and healthcare. The impact of CTA is more severe for developing countries, however, as they are reliant on tax revenue from corporations to fund sustainable development outcomes such as the alleviation of poverty and providing access to basic sanitation. Current research recognises that developing countries face challenges in collecting tax. The lack of discourse addressing the disproportionate negative impact of CTA in developing countries is clearly evident.  This paper seeks to shed light on the impact CTA on developing countries and to propose recommendations to enable the World Bank and the International Monetary Fund (IMF) to supplement the multilateral effort to combat CTA. Firstly, the mechanisms of CTA will be briefly outlined. The key challenges faced by both developing countries and the multilateral organisations in combating CTA will then be examined. The effectiveness of the Organisation for Economic Cooperation and Development’s (OECD) BEPS Project for developing countries will then be examined. The role the World Bank and International Monetary Fund (IMF) are playing in this space will be analysed and recommendations will be provided as to how these organisations can contribute to more effective outcomes for developing countries.

Read More

Energising Innovation: The Role of Global Innovation Alliances to Address Key Energy Challenges

By Laura Sacks

Laura attended the Y20 Turkey Summit in 2015, representing the UNSW Co-op Scholar Program. Laura is a Bachelor of Engineering student and previously worked as a strategy analyst at Deloitte. She is also the president of the Mechanical Engineering Society at UNSW.

Abstract

Innovation in the global energy sector is increasingly imperative to buttress economic and environmental sustainability moving forwards. Climate change and negative resource trends including decreasing supply and rising energy demand mean that finding innovative solutions to lessen our reliance on traditional fossil fuel sources is increasingly vital. Enabling innovation alliances between low-income developing countries and the developed world is essential for both to gain maximum benefit from upcoming energy technologies while also creating solutions to key global energy challenges.

This study will establish the scope for global innovation alliances in the energy sector in order to maximise return on investment and sustainable impact. It will use case studies to demonstrate the success of international collaboration in this critical and growing industry. The inclusive nature of the G20 positions it as an ideal forum to form strategic innovation alliances, as well as to develop policies that incentivise ongoing relationships between developing and developed countries in the energy sector. This raises the question of the limitations of the current role of the G20 and the potential need to drive it toward being a more active platform for implementing economic reform.

Read More