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  • Author: Susan Minushkin
  • Publication Date: 03-2003
  • Content Type: Working Paper
  • Institution: Centro de Investigación y Docencia Económicas
  • Abstract: Mexico's financial market opening demonstrates how this domestic logic interacts with international condition. The following case study of Mexican financial opening makes the following contentions. First, financial market opening in Mexico did not begin in the 1980s, as commonly believed. Rather the process has its roots in a conflict among sub-sectors of the financial services industry, between powerful oligarchic bankers (banqueros) and financial entrepreneurs based on the bolsa (bolseros). The conflict, dating from the 1960s, was a purely domestic affair and was not the result of increased international capital mobility and financial marked opening in OECD countries. Nevertheless, this conflict led to a structural change in the financial service industry congruent with changes in the international financial system from bank-based financing to increasing securities market-based financing.
  • Topic: Economics, Emerging Markets, International Trade and Finance
  • Political Geography: North America, Mexico
  • Author: Susan Minushkin
  • Publication Date: 03-2003
  • Content Type: Working Paper
  • Institution: Centro de Investigación y Docencia Económicas
  • Abstract: This study seeks to test the hypotheses that different styles of financial market opening can be explained, in part, by general economic conditions and the need to attract external capital. It seeks, as well, to test the some for the more general arguments advanced in the financial market opening literature that financial market opening is a result of a country's increased participation in the international financial system and increased international trade integration. Two specifically political arguments also are tested. The first is that emerging markets opened their markets in response to pressure from the IMF. The second is that there is an association between political freedom and open markets. I test these hypotheses using regression analyses of panel data from a sample of emerging market countries.
  • Topic: Economics, Emerging Markets, International Trade and Finance
  • Political Geography: Europe, North America
  • Author: Miguel Ángel Valverde
  • Publication Date: 02-2003
  • Content Type: Working Paper
  • Institution: Centro de Investigación y Docencia Económicas
  • Abstract: In June 1990, Presidents George Bush and Mexican President Carlos Salinas de Gortari announced their intention to begin negotiating a free trade agreement. Canada joined the negotiations the following August. The proposed North American Free Trade Agreement (NAFTA) provoked an intense lobbying campaign in the U.S. Congress, in what became a major political battle for its congressional approval.
  • Topic: Economics, Government, International Trade and Finance
  • Political Geography: Africa, Canada, Central America, Mexico
  • Author: Mark Aspinwall, Imtiaz Hussain
  • Publication Date: 02-2003
  • Content Type: Working Paper
  • Institution: Centro de Investigación y Docencia Económicas
  • Abstract: How autonomous is a state in today's highly interdependent international economy to pursue policies that diverge widely from the international norm? Does the degree of autonomy vary for different domestic sectors? We adapt and apply Benjamin Cohen's unholy trinity model (1993), to a comparative assessment of how France responded to globalization over agriculture and shipping, focusing on three dimensions—investment, transaction costs, and government policy responses. Although France is reputed to possess a strong state machinery (Katzenstein, 1987; Wilson, 1987; Skocpol, 1985), our analysis raises qualifications. On the one hand, regardless of government policy intentions, we find irreversible forms of disinvestment in both sectors, though different in nature—geographic for shipping, and functional for agriculture; on the other, we also find continued dependence upon the state—for aid in shipping and resisting free trade in agriculture. We further find that, although internal and endogenous, as well as external and exogenous, factors influence policy-making, the nature of these factors are different for the two sectors. We conclude by drawing implications of our findings for state-society relations and European integration.
  • Topic: Agriculture, Economics, International Trade and Finance
  • Political Geography: Africa, Europe, France
  • Author: Blanca Heredia Rubio
  • Publication Date: 02-2003
  • Content Type: Working Paper
  • Institution: Centro de Investigación y Docencia Económicas
  • Abstract: The buoyant optimism spurred by the rush to democracy throughout Latin America along with the high, even if less widespread, hopes about market reform of the last decade have given way to a different mood. The excitement associated with large scale social change has subsided and a certain disillusionment, a hangover of sorts, has begun to set in.
  • Topic: Civil Society, Democratization, Economics
  • Political Geography: Latin America, Central America, Mexico
  • Author: Miguel Ángel Valverde
  • Publication Date: 02-2003
  • Content Type: Working Paper
  • Institution: Centro de Investigación y Docencia Económicas
  • Abstract: The objective of this paper is to analyze the institutional setting of the NAFTA debate in the United States, focusing on the interaction between the Presidency and Congress, in the formulation of foreign commercial policy. A series of arrangements have tamed confrontation between the Executive and Legislative powers, reconciling their institutional biases. THese arrangements channel and contain domestic demands for protectionism, favoring international trade liberalization negotiations.
  • Topic: Economics, International Trade and Finance, Treaties and Agreements
  • Political Geography: Africa, United States, Asia, North America
  • Author: Adam Jones
  • Publication Date: 02-2003
  • Content Type: Working Paper
  • Institution: Centro de Investigación y Docencia Económicas
  • Abstract: The gender dimension of the holocaust in Rwanda is perhaps more intricate and multifaceted than any genocide in history. This article explored the relevance of the gender variable to an understanding of the 1994 events. It argues the gender is vital to understanding the social crisis in Rwanda prior to the genocide; the appeals of the genocide's perpetrators to the Hutu population and their mobilization of that population for mass killing; the prominence of women as planners and perpetrators of the genocide; the evolution of the genocide itself between April and July 1994; the massive demographic disproportion between men and women after the holocaust; and the actions and strategies of the Rwandan Patriotic Front rebels who eventually succeeded in ending the genocide. The final section of the article seeks to place the Rwanda experience in comparative perspective, suggests some lessons for the future, and argues that the study of ender and genocide must be gender-inclusive (addressing the experiences of both women and men) in order to more fully explore the workings of this important variable.
  • Topic: Gender Issues, Genocide, Peace Studies
  • Political Geography: Africa
  • Author: Jorge A. Schiavon, Antonio Ortiz Mena
  • Publication Date: 02-2003
  • Content Type: Working Paper
  • Institution: Centro de Investigación y Docencia Económicas
  • Abstract: The central trade policy priority of the last two administrations (Carlos Salinas de Gortari, 1988-1994, and Ernesto Zedillo Ponce de León, 1994-2000) was the negotiation and the implementation of one very important and ambitious free trade agreement each, the North American Free Trade Agreement and the Mexico-European Union Free Trade Agreement respectively. This working paper explains how and why both administrations were able to successfully deal with the delegation problems that chief-executive principals face with their bureaucratic agents, through a series of institutional reforms. The main argument is that both Salinas and Zedillo had to deal with three specific agency problems: adverse selection, moral hazard, and incomplete enforcement, and that given the characteristics of the Mexican political system prevailing at that time, they were able to successfully solve these problems. These institutional reforms in the foreign economic policy should be understood as a response to agency problems, and not as a reflection of the personal governing style of Salinas and Zedillo.
  • Topic: Foreign Policy, Development, Treaties and Agreements
  • Political Geography: Africa, North America
  • Author: Isami Romero
  • Publication Date: 02-2003
  • Content Type: Working Paper
  • Institution: Centro de Investigación y Docencia Económicas
  • Abstract: The central purpose of this article is to analyze the impact of the Japanese party system on the rearmament rhetoric in the 90's. based on a theoretical model which incorporates regional factors as well as domestic variables, the author argues that the rise of the rearmament rhetoric in Japan is a result of changes in the regional context of the country and the prominence of Conservatoriums in the domestic political arena. The author also presents a brief recount of Japanese political history since the Second World War. This article provides a general framework for the study of the impact of the party system on foreign policy making, and contributes to the present debate on the need to incorporate domestic variables to the study of international events.
  • Topic: International Relations, Foreign Policy, Treaties and Agreements
  • Political Geography: Africa, Japan, Israel, East Asia, Mexico
  • Author: Adam Jones
  • Publication Date: 02-2003
  • Content Type: Working Paper
  • Institution: Centro de Investigación y Docencia Económicas
  • Abstract: This article examines two decades in the life of Barricada, established as the "official organ" of the revolutionary Sandinista Front (FSLN) in Nicaragua, from its founding in 1979 through to its demise as a daily in 1998. it is argued that as distinct from the overriding "mobilizing imperative" of support for its Sandinista sponsor, and institutionally-generated "professional imperative" was also evident in Barricada's functioning from the early days of the paper's operations. After the FSLN's election defeat in 1990, this professional imperative-along with the political preference of most senior staff for "renovation" within the FSLN-resulted in the paper's establishing a significant degree of day-to-day autonomy fro its sponsor, and important transformations in its journalistic project. This semi-autonomy was foreclosed when the dominant ortodoxo faction of the Front engineered the dismissal of Barricada director Carlos Fernando Chamorro in 1994. Barricada then returned to its more highly-mobilized role as FSLN propagandist, but lost readers and advertising revenue as a result, finally closing in February 1998. The final section of the paper situates the experience of Barricada in the comparative context of mass media and political transitions worldwide.
  • Topic: Civil Society, Politics, War
  • Political Geography: Africa, Central America