The Global Diamond Industry

The Global Diamond Industry: Economics and Development brings together a collection of papers covering various aspects of the diamond industry including economics, law, history, sociology and development across two volumes.

"The Global Diamond Industry: Economics and Development brings together a collection of papers covering various aspects of the diamond industry including economics, law, history, sociology and development. These volumes are motivated by one objective alone and that is to provide intellectual light where none exists. The diamond industry is one that is long steeped in secrecy and each chapter and even each well researched anecdote helps others to understand this commodity and what are at times mysterious operations of the industry. This first volume presents literature tackling broad issues around the structure of the industry and demand and pricing of diamonds"--

In the late 1990s, several non-governmental organizations (NGOs) focused world attention on the issue of conflict diamonds which funded wars, massive death, and refugee crises across Central and West Africa. Several governments, NGOs, and key industry players engaged in negotiations under the so-called Kimberley Process (KP). A voluntary global agreement came into effect leading to a substantial decline in illicit diamond trade. Despite its importance in international affairs, the KP remains understudied in academia. Franziska Bieri's book provides the first comprehensive account of the KP and is the first to reveal how NGOs have become critical actors in their own right, possessing the ability to directly influence policies and to participate in the decision making and the implementation of global agreements. In developing this argument, Bieri explains: why the NGO campaign to raise awareness was successful; why a rapid and comprehensive resolution on such a complex global problem was possible; how the tripartite negotiations between states, NGOs, and industry developed during the implementation of the agreement, which is an on-going process. Based on extensive personal interviews with prominent campaigners, leading bureaucrats, and industry officials, hundreds of KP publications, official UN documents, industry news, and NGO reports, this timely book allows for a much needed engagement in contemporary debates about the campaign against conflict diamonds, the Kimberley Process, and the themes defining today's global governance arena.

The Global Diamond Industry: Economics and Development brings together a collection of papers covering various aspects of the diamond industry including economics, law, history, sociology and development across two volumes.

Research Paper (postgraduate) from the year 2011 in the subject Business economics - Business Management, Corporate Governance, grade: A, University of Kent, course: BA, language: English, abstract: In spite of the pessimistic worries of the global economy, in 2011 the global diamond industry performed successfully beyond expectation. A total of 124 million carats of rough diamonds, which is worth of $15 billion, were excavated (AWDC, 2013). According to the industry consulting organization, Bain & Company (2013), “those stones were worth $24 billion after moving through the chain of dealers, cutters and polishers, on their way to making diamond jewellery worth $71 billion at retail”. They also reported that compared to 2010, the global diamond sales significantly increased by 18% to $71 billion, close to the 2007 peak of $73 billion before the crisis. IDEX (2013) and Tacy LTD (2013) indicated that the majority of growth contributed to the mounting demand from Chinese and Indian markets. De Beers, which is reviewed in this proposal as an example of the world’s leading diamond company for more than a century, reached their second highest level of sales ever to $6.5 billion in 2011. In the 1990s an issue of “conflict diamonds” or “blood diamonds” was heatedly debated across the globe. The diamond industry encountered the crisis from their diamond sourced countries. In several politically unstable African countries, such as Angola, Sierra Leone, Liberia, the Democratic Republic of the Congo, the diamond mines were under control of the military as a means to finance their military power. With the media‘s widespread coverage and the movie “Blood Diamond”, the transactions between diamond buyers and the military, although not all from such illegal channels, were regarded as intensifying violent tribal conflict. Consequently, the reputation of the diamond industry was blackened (The Kimberly Process, 2013; Pauwelyn, 2003; Worldbank.org, 2013). In response to this situation, the Kimberley Process was organized in 2002. Under the auspices of the United Nations, The Kimberley Process Certification Scheme (KPCS) conducted a list of rules that every diamond trading country should obey: certification of rough diamonds is now required before being exported (Pauwelyn, 2003; Schefer, 2005). This is to "guarantee that their trade does not finance rebel activities" (The Kimberly Process, 2013).

The Global Diamond Industry: Economics and Development brings together a collection of papers covering various aspects of the diamond industry including economics, law, history, sociology and development across two volumes.

Africa's diamond wars took four million lives. They destroyed the lives of millions more and they crippled the economies of Angola, the Congo, Liberia and Sierra Leone. The biggest UN peacekeeping forces in the world-in Sierra Leone, Liberia, the Congo and C te d'Ivoire―are the legacy of 'conflict' or 'blood diamonds'. 'Blood on the Stone' tells the story of how diamonds came to be so dangerous. It describes the history of the great diamond cartel and how it gradually lost control of the precious mineral, as country after country descended into anarchy and wars fuelled by diamonds. The book describes the diamond pipeline, from war-torn Africa to the glittering showrooms of Paris, London and New York. It describes the campaign that began in 1999 and which eventually forced the industry and more than 50 governments to create a global certification system known as the Kimberley Process, aimed at wringing blood diamonds out of the retail trade. This gripping account concludes with a sobering assessment of the certification system, which soon became hostage to political chicanery, mismanagement and vested interests. Too important to fail, the Kimberley Process has been hailed as a regulatory model for Africa's extractive minerals. Behind the scenes, however, it runs the risk of becoming an ineffectual talk shop, standing aside as criminals re-infest the diamond world.

How does Manhattan’s 47th Street diamond district thrive as an ethnic marketplace without lawyers, courts, and state coercion? Barak Richman draws on insider interviews to show why relational exchange based on familiarity, trust, and community enforcement succeeds and what it reveals about the modern state’s limitations in governing the economy.

If you visit Antwerp, the diamond market of the world, you will see for yourself how Indians have taken over the sleepy Belgian town, where bells in the biggest Hindu temple attract thousands of visitors every evening. Global diamond trade is now on a new chapter, and India is playing an important role in that. Diamonds are the second-largest export commodity from India after mineral fuels. With more than 80 per cent of the world's diamonds being cut and polished in Surat, India has become the processing house for the world's diamonds. But how did we get here?In The Diamond Trail, veteran journalist Shantanu Guha Ray charts the course of India's rise to domination in the diamond industry.

Research Paper (undergraduate) from the year 2018 in the subject Business economics - Economic and Social History, grade: 1, , language: English, abstract: Diamonds are believed to be among the most precious commodities for trade. In the past three centuries, diamond has been considered to be one of the rarest mineral elements in the earth’s crust. However, the immense demand for diamond by the global population appears to be the most probable reason as to why diamonds have always been considered as a scarce trade commodity. Interestingly, geological findings indicate that diamonds top the list of the most abundant gem-quality colored stones. It is argued that diamond pricing is the most outstanding feature which creates unusual demand; thus, making diamonds rare. The second reason why diamonds have been considered to be scarce is the nature of the market structure. Over the years, diamond market has been characterized with an unprecedented monopoly in which a single player existed in the market. As a result, diamond pricing and its supply experienced unique market trends, and this is the principal reason as to why diamond supply chain has been manipulated to create market demand against business ethics. The De Beers Company has been exercising monopoly since its establishment in 1880s when Cecil Rhodes started diamond trading. Despite the legal barriers including the U.S anti-trust laws, this company has always exercised monopoly in diamond trading. However, monopoly in the diamond market seems to end soon because its supply will increase significantly after Russia joins the market. Recently, a huge diamond field was discovered in Siberia which can supply the world market with trillion of carats in the next thirty centuries. As a result, the structure of the diamond market is believed to change drastically in the future. Therefore, this research paper will provide an overview of diamond trading, especially with regard to the principal elements of diamond pricing.

In the late 1990s, several non-governmental organizations (NGOs) focused world attention on the issue of conflict diamonds which funded wars, massive death, and refugee crises across Central and West Africa. Several governments, NGOs, and key industry players engaged in negotiations under the so-called Kimberley Process (KP). A voluntary global agreement came into effect leading to a substantial decline in illicit diamond trade. Despite its importance in international affairs, the KP remains understudied in academia. Franziska Bieri's book provides the first comprehensive account of the KP and is the first to reveal how NGOs have become critical actors in their own right, possessing the ability to directly influence policies and to participate in the decision making and the implementation of global agreements. In developing this argument, Bieri explains: why the NGO campaign to raise awareness was successful; why a rapid and comprehensive resolution on such a complex global problem was possible; how the tripartite negotiations between states, NGOs, and industry developed during the implementation of the agreement, which is an on-going process. Based on extensive personal interviews with prominent campaigners, leading bureaucrats, and industry officials, hundreds of KP publications, official UN documents, industry news, and NGO reports, this timely book allows for a much needed engagement in contemporary debates about the campaign against conflict diamonds, the Kimberley Process, and the themes defining today's global governance arena.

Investigating state responses to the Kimberley Process, an ambitious international agreement meant to reduce the trade of conflict diamonds, this study looks at the political economy of resource-wealthy states in Africa to understand why some African states have higher levels of compliance and co-operation than others.

'Graycar and Smith's excellent edited volume studies corruption as a pervasive, global phenomenon. The chapters move from general overviews to in-depth studies of corruption-prone sectors such as forestry, financial markets, public procurement, and trade in diamonds and art. The volume is an important, contribution to the international study of corruption that mixes scholarly analysis with practical recommendations for the control and prevention of corruption – both international initiatives and country – or sector-specific policies.' – Susan Rose-Ackerman, Yale Law School, US 'Corruption is on top of the agendas of practitioners and scholars in public administration all over the world. This volume addresses questions no one can neglect and comes up with answers we should not miss.' – Leo Huberts, VU University Amsterdam, The Netherlands 'This Handbook will serve as an invaluable resource for scholars, students and public officials interested in understanding corruption and its control.' – James B. Jacobs, NYU School of Law, US Corruption is a global phenomenon with costs estimated to be in the trillions of dollars. This source of original research and policy analysis deals with the most important concepts and empirical evidence in foreign corrupt practices globally. Handbook of Global Research and Practice in Corruption includes research from all continents and provides a critical analysis of the key issues of corruption and its control. Through rigorous analysis and theoretical foundations, this book provides a multi-disciplinary and international account of corruption from the perspectives of public policy, criminal law and criminology, as well as considering principles of prevention and control in both the public and private sectors. With original and empirical analyses, this unique book will appeal to academics, researchers and students in international business and international law, staff of crime and corruption commissions and police integrity agencies, as well as international organisations such as the World Bank, IMF, Transparency International and the World Economic Forum.

This volume presents a collection of different views and perspectives, featuring both theoretical and empirical contributions, to provide deep insight into the role of innovation and of non-technological innovation (NTI) in contemporary business. It illustrates how NTI encourages organizational development as well as competitive advantage. Chapters display a variety of research methods, both qualitative and quantitative, including case studies, best practices, surveys, novel approaches to interpretations, concepts and theories. Together they contribute to a significant extension of the existing knowledge on non-technological innovations and their role in organizations. This volume highlights the effects of marketing and organizational innovation strategies on companies’ innovation and overall performance, while demonstrating that the effects of NTI may vary depending on the phase of the innovation process, and how it differs within small, medium and large enterprises from manufacturing and service industries. It explores the bidirectional relationship between technological innovation (TI) and NTI, and considers the competences needed to implement NTI. The book is written for scholars and academic professionals from a wide variety of disciplines addressing issues of organizational change and innovation, new management techniques and strategies, and the sustainable growth of organizations. It may also be an interesting source of knowledge for graduate and postgraduate students in management.

What happens to a country when its skilled workers emigrate? The first book to examine the complex economic, social, and political effects of emigration on India, Diaspora, Development, and Democracy provides a conceptual framework for understanding the repercussions of international migration on migrants' home countries. Devesh Kapur finds that migration has influenced India far beyond a simplistic "brain drain"--migration's impact greatly depends on who leaves and why. The book offers new methods and empirical evidence for measuring these traits and shows how data about these characteristics link to specific outcomes. For instance, the positive selection of Indian migrants through education has strengthened India's democracy by creating a political space for previously excluded social groups. Because older Indian elites have an exit option, they are less likely to resist the loss of political power at home. Education and training abroad has played an important role in facilitating the flow of expertise to India, integrating the country into the world economy, positively shaping how India is perceived, and changing traditional conceptions of citizenship. The book highlights a paradox--while international migration is a cause and consequence of globalization, its effects on countries of origin depend largely on factors internal to those countries. A rich portrait of the Indian migrant community, Diaspora, Development, and Democracy explores the complex political and economic consequences of migration for the countries migrants leave behind.