Howard Pack - Faculty Research in Knowledge@Wharton

Deflation Fears: Could Falling Prices Let the Air Out of a Recovery?

Wed, 13 May 2009 16:53:27 EST

Experts are far from unanimous on the question, with some arguing that deflation could be widespread, while others insist an economic rebound and government stimulus efforts make deflation less likely. Some fear that a stimulus-driven recovery could trigger the opposite: inflation.

Attached at the Wallet: The Delicate Financial Relationship between the U.S. and China

Wed, 29 Apr 2009 14:19:24 EST

The financial relationship between China and the U.S. is beginning to look like an unhealthy co-dependency. China holds so much of its foreign reserves in dollar-based assets that it is now vulnerable to shifts in the U.S. economy. And the U.S. has allowed China to purchase so much of its debt that it is now beholden to Chinese interests. Experts disagree, however, about the real motives for China's continuing investments, and whether it would ever sell them off.

Time for Transparency: What Will It Take to Improve Corporate Governance in the Middle East?

Wed, 11 Mar 2009 16:25:39 EST

As the financial crisis roils the world economy, scandals are surfacing in various parts of the world. In the Middle East, the latest scam to hit the headlines involves Nabil al-Boushi, an Egyptian broker who is accused of swindling investors in Dubai and has been termed the "Egyptian Madoff." As is usual in such circumstances, demands are being heard for improving corporate governance and financial regulation in the Middle East. This, however, is an enormous task. A 2008 survey found that barely 3% of publicly listed companies and banks in the region have good corporate governance practices. Can this situation be turned around? Experts from Wharton and elsewhere offer their suggestions.

Kings of Cash: The Impact of the Global Financial Crisis on Sovereign Wealth Funds

Wed, 11 Mar 2009 16:25:35 EST

The worldwide financial crisis has raised many questions about the efficacy and role of sovereign wealth funds (SWFs), the large, state-controlled investment funds typically carrying a mix of assets. Some of the largest funds reside in the Middle East, and in the wake of the financial meltdown, many of them have become risk-averse and are turning inward to stimulate their own slumping economies. Knowledge@Wharton asked Wharton faculty and other experts discuss this change in SWF strategy and what it means for long-term economic stability.

Political Tensions Are Creating New Rules for International Business

Mon, 22 Sep 2008 16:32:59 EST

Emerging economies still promise opportunity but also political risk for international businesses. Growing income disparity in rapidly developing economies, geopolitical tensions and anti-U.S. attitudes are among the broader political trends that could shape global business in the future, according to Wharton faculty. "Increasingly, politics will intervene and political management skills will be valuable for multinationals," says Wharton management professor Witold Henisz.

Linking Commerce to Geopolitics: The Candidates' Views on Global Trade

Wed, 17 Sep 2008 20:25:57 EST

With global financial markets in turmoil, trade will most likely be an urgent concern for the next president. As part of Knowledge@Wharton's ongoing coverage of the upcoming November election, we examine the candidates' views on trade issues. So far, both Republican John McCain and Democrat Barack Obama have tended to follow predictable party lines: McCain is a supporter of free trade and would back additional multilateral trade pacts, while Obama urges a reexamination of trade agreements and their effect on the environment and U.S. workers.

How Arab Countries Are Coping with Globalization

Wed, 09 Jan 2008 15:30:15 EST

At the beginning of 2008, crude prices are at record highs, creating immense wealth for oil-exporting nations in the Middle East. Yet the Arab economies also face what economists call "a demographic bulge of a fast-growing labor force" -- and the challenge of creating enough jobs for the population. This is happening at a time when the arrival of China and India is raising the competitive stakes for other emerging economies that want to make their mark on the global economic stage. How are the Arab economies dealing with these challenges? Howard Pack, a professor of business and public policy at Wharton, and Marcus Noland, a senior fellow at the Peterson Institute for International Economics, address these issues in a book titled, The Arab Economies in a Changing World. Knowledge@Wharton recently spoke with Pack about his book.

An End to Global Textile Quotas: Watch China Sew Up the Market

Wed, 09 Feb 2005 16:50:03 EST

On Jan. 1, the Multifiber Agreement -- which for 30 years let nations place quotas on the amount of textile and clothing imports allowed into their countries -- expired for members of the World Trade Organization, the multilateral global trade body. The elimination of global textile quotas is expected to drive garment production to China, benefiting consumers in North America and Europe at the expense of developing nations where apparel manufacturing has become a bridge to an industrial economy, according to Wharton faculty and other analysts.

Business Implications of the U.S.-Europe Rift

Sun, 09 Feb 2003 00:00:00 EST

The diplomatic rift over war with Iraq has reverberated throughout the United States, the United Kingdom, France, Germany and the rest of what only recently has come to be known as Old and New Europe. But more is at stake than politics and diplomacy. At issue, too, are business and trade relations between the United States and Europe, according to faculty members at Wharton and INSEAD, the French business school. The impact of the Iraq issue on commerce, they note, may be serious as ordinary consumers and corporate strategic planners alike begin to make decisions based on the friction that has affected the worldwide political climate.

The Bush Tax Bill: Complex, Confusing and Drawn Out

Wed, 06 Jun 2001 00:00:00 EST

Now that Congress has passed President Bush's $1.35 trillion tax bill, what does it all mean? Faculty members at Wharton and the Goizueta Business School at Emory University say the bill�s provisions could stimulate the sluggish economy and allow taxpayers to keep more of their income. But the bill has so many twists and turns that even London cab drivers, famed for their ability to memorize that city�s Byzantine thoroughfares, would need a map to navigate this legislative maze. And one other thing: Don�t expect the tax savings to materialize anytime soon.