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2401. Algeria: President Bouteflika's Second Presidential Term

Author:
Ulla Holm
Publication Date:
11-2004
Content Type:
Policy Brief
Institution:
Danish Institute for International Studies (DIIS)
Abstract:
For the second time, the Algerian president, Bouteflika has been elected president. He has now another five years for restoring the economy and for demonstrating that the army and the security forces no longer will be the hidden puppeteers of politics. The Algerians are asking themselves whether Algeria is on the way to further democratization after the sacking of the influential army Chief, Lamari. This Brief discusses whether there is a possibility of withdrawal of the army to the barracs due both to Bouteflika\'s and the army\'s wish to getting closer to the EU and to the US.
Topic:
Security, Democratization, and Government
Political Geography:
Africa

2402. Human Rights and Post-Conflict Transitional Justice in East Timor

Author:
Taina Järvinen
Publication Date:
01-2004
Content Type:
Working Paper
Institution:
Finnish Institute of International Affairs
Abstract:
The theme of this paper is human rights in East Timor during the United Nations Transitional Administration UNTAET and the first years of the independent Democratic Republic of Timor Leste. Following a brief background on the history of the conflict in East Timor this study focuses on three topics: human rights in institution building, post-conflict environment and human rights, and transitional justice. The term 'human rights' refers here to internationally recognized human rights standards and principles, including the principle of the indivisibility and equal importance of all hum an rights. However, the emphasis is on the rights related to political participation that are often categorized as civil and political rights, whereas economic, social, and cultural rights will not be specifically addressed. This is not to reinforce the ideological divisions concerning human rights left over from the Cold War period, or to suggest that economic, social, and cultural rights are less significant. Indeed, economic, social, and cultural rights are crucial in post-conflict conditions. The focus reflects the definition of human rights used in UN peace operation mandates, where economic, social, and cultural rights have largely been left out, albeit the importance of the promotion of economic and social well-being is recognized in recent UN peacebuilding strategies.
Topic:
Conflict Resolution, Government, Human Rights, Peace Studies, and United Nations
Political Geography:
Indonesia, Asia, and Timor-Leste

2403. Reinvigorating European Elections: The Implications of Electing the European Commission

Author:
Julie Smith
Publication Date:
05-2004
Content Type:
Working Paper
Institution:
Chatham House
Abstract:
Europe's voters go to the polls in mid-June to elect 732 Members of the European Parliament. In the past European Parliament (EP) elections have been characterized by low turnout, with an emphasis on national rather than European issues. The evidence suggests that this year's elections will be little different despite the enlargement of the Union on 1 May.
Topic:
Civil Society, Government, Political Economy, and Politics
Political Geography:
Europe

2404. An Extremism of the Center? Jean-Pierre Chevènement, French Presidential Candidate, 2002

Author:
Sharif Gemie
Publication Date:
03-2004
Content Type:
Journal Article
Journal:
French Politics, Culture Society
Institution:
Conference Group on French Politics Society
Abstract:
There are few politicians who can claim that they have, literally, come back from the dead. Jean-Pierre Chevènement can make a still more dramatic declaration: He is a man who has been reborn twice. Chevènement was the French minister of the Interior from 1997-2000, in the last Jospin government. In October 1998 he was admitted to hospital for a routine gall-bladder operation. Following a complication in the anaesthetic procedure, his heart stopped beating for forty-five minutes. He fell into a deep coma that lasted for three weeks, during which he drifted in a muffled, foggy world inhabited by strange beasts, as he later recalled.
Topic:
Government
Political Geography:
France

2405. Cyprus Settlement Initiative Project. Addressing the Settlement of Self-Determination Conflicts through Complex Power Sharing: The case of Cyprus. Antalya, Turkey.

Author:
Tove H. Malloy and Tankut Soykan
Publication Date:
03-2004
Content Type:
Working Paper
Institution:
European Centre for Minority Issues
Abstract:
With negotiations on the basis of the Annan Plan, complex power-sharing mechanisms were again on the agenda for the re-unification of Cyprus. Complex power-sharing mechanisms constitute an alternative approach which seeks to go beyond the traditional juxtaposition of consociational or integrative models and provide a more open approach in terms of a matrix of tools. This matrix covers multilevel governance, political representation, autonomy regimes, special rights for communities, moderating conflicts of authority, executive representation and generating equal opportunities. However, complex power-sharing arrangements cannot be achieved, nor will they take root in a society, unless they are understood, supported, and most crucially, developed further by local constituents. Hence, the parties directly involved in an attempted settlement must be enabled to take ownership of their own process and settlement. Putting the Northern Cypriot negotiation teams in this position was the overall aim of the FIRST Technical Expert Seminar on Complex Power-Sharing Mechanisms in Cyprus.
Topic:
Conflict Resolution and Government
Political Geography:
Eastern Europe and Balochistan

2406. Informal International Consultative Meeting in the Area of Minority Issues

Author:
Colleen French
Publication Date:
10-2004
Content Type:
Working Paper
Institution:
European Centre for Minority Issues
Abstract:
In September 2002, senior representatives of intergovernmental and major nongovernmental institutions addressing minority issues gathered in Flensburg for a consultative meeting which sought to facilitate an informal exchange between the different organizations on emerging issues and strategies. As a follow up measure, the European Centre of Minority Issues (ECMI) held a second 'Informal International Consultative Meeting of Major Actors in the Area of Minority Issues', at ECMI Headquarters, Flensburg, Germany on 17 and 18 September 2004.
Topic:
International Relations, Government, and Human Rights
Political Geography:
Europe

2407. Watching the Watchdogs: The Role of the Media in Intelligence Oversight in Germany

Author:
Antje Fritz
Publication Date:
04-2004
Content Type:
Working Paper
Institution:
Geneva Centre for Security Sector Governance (DCAF)
Abstract:
Free media and unhampered and impartial journalism are crucial elements of any democracy. Journalists provide the information which a society needs to debate current policies, public issues, societal threats, the potential failings of its institutions as well as necessary reforms. In so doing, journalism fulfils a major democratic function, which includes, as a crucial responsibility, the duty to make issues transparent and therefore to help citizens to gain information about and exert oversight of the state's executive bodies (Ward 2004). But even if those pre-conditions are satisfied, some societal areas, especially those which concern security related issues, tend to resist efforts to provide transparency and public oversight. This is especially the case when intelligence services and intelligence related issues are involved.
Topic:
Security, Civil Society, Government, and Politics
Political Geography:
Germany

2408. Under Pressure. Falintil - Forças de Defesa de Timor Leste. Three Decades of Defence Force in Timor Leste: 1975-2004

Author:
Edward Rees
Publication Date:
04-2004
Content Type:
Working Paper
Institution:
Geneva Centre for Security Sector Governance (DCAF)
Abstract:
Timor Leste is faced with a major challenge in consolidating its nascent democracy, this being the overdue establishment of a national security framework supported by legislation. In conjunction, civilian oversight and management structures for the security sector are weak to non-existent in Timor Leste. This is most pronounced in the case of Timor Leste's defence force and police services, and especially so in those areas where their responsibilities overlap. A major obstacle to overcoming this challenge are political divisions that exist between those who identify themselves as being “veterans of the resistance” to Indonesia's occupation 1975-99. The role of veterans dominates the country's political equation from the villages to the capitol. These divisions are manifested in the ill-advised and ongoing creation of the state's security institutions. That the United Nations' security forces' withdrawal from Timor Leste will be complete in May 2004 underscores the pressing nature of this problem. The below paper will examine the development of the defence force with some allusion to the police services. I will view the development of defence forces from the inception of an indigenous armed force in 1975.
Topic:
Security, Government, Peace Studies, and Politics
Political Geography:
Indonesia

2409. Ukrainian Democratic Development and Euro-Atlantic Integration: A Natural Convergence, But A Difficult Path

Author:
James Green
Publication Date:
03-2004
Content Type:
Working Paper
Institution:
Geneva Centre for Security Sector Governance (DCAF)
Abstract:
For over a thousand years, Ukraine\'s national strength and independence has been linked to democratic self-governance. In the Kyiv Rus, popular assemblies called \'vetches\' elected representatives and provided popular input into governmental policy. In the 15th and 16th centuries, Cossack hetman and foremen were elected by the Cossack Radas, which also debated and approved government policies. Beginning in the 14th century and lasting until the early 19th century, many Ukrainian towns and cities – Lviv, Kyiv, Vinnitsa, Zhytomyr, Chernigiv, Glukhov, Lubny, Poltava – flourished under the political and economic self-government provided by Magdeburg Law, which offered liberation from feudal duties, the election of city authorities, and rule of law. This link continues to the present; the modern Ukrainian state was born out of the convergence of movements for national independence and democracy that brought down the Soviet Union. Although neither of these attributes is yet fully consolidated in the young Ukrainian state, the country\'s best hope for success lies in its democratic elements: a system, albeit imperfect, of electing government officials and legislators, elements within the judiciary willing to uphold human rights and the rule of law, journalists and editors willing to take risks to report the truth, non-governmental organizations that provide a means for citizens to mobilize in order to advance their common interests.
Topic:
International Relations, Security, and Government
Political Geography:
Europe, Ukraine, and Soviet Union

2410. Democratic Control of Armed Forces in Military Interventions: A Challenge to Global Governance

Author:
Herbert Wulf
Publication Date:
01-2004
Content Type:
Working Paper
Institution:
Geneva Centre for Security Sector Governance (DCAF)
Abstract:
Since the end of the Cold War, numerous developments have significantly changed the position of the armed forces. Firstly among these developments is the fact that the vast majority of wars are no longer fought between states. Rather, today's wars and violent conflicts tend to have mostly inner societal causes (Kaldor 2001). Additionally, the observation of present day realities, especially in big urban centres of the world, shows that more people die from the day-to-day exertion of criminal violence than from warrelated causes. Inner-societal insecurity and violent conflict sometimes leads to the international community turning to military means to control and pacify the areas concerned.
Topic:
Security, Civil Society, Democratization, and Government
Political Geography:
United Nations

2411. Civil Society, Democracy and the Law

Author:
Ian Leigh
Publication Date:
01-2004
Content Type:
Working Paper
Institution:
Geneva Centre for Security Sector Governance (DCAF)
Abstract:
This paper first discusses the meaning of civil society and, in particular, its strengths and limitations. The second section considers what civil society can add to the representative democratic process. In the remaining sections, I discuss how civil society interacts with the law in a democratic state. There are two distinct aspects to this. Firstly, there are the legal and constitutional pre-conditions that allow civil society to flourish. These include issues about group autonomy, freedom of the press and of protest, including the place of civil disobedience. Secondly, there are the specific ways in which civil society can use the legal process to further its ends.
Topic:
Security, Civil Society, Democratization, and Government
Political Geography:
Europe

2412. Missile Defense All Over Again

Author:
Michelle Ciarrocca
Publication Date:
10-2004
Content Type:
Policy Brief
Institution:
Foreign Policy In Focus
Abstract:
Under President Clinton, it became U.S. policy to deploy a National Missile Defense (NMD) system "as soon as technologically feasible." However, Clinton's commitment to missile defense was tempered by his pledge to base a deployment decision on four criteria: the overall cost of the program, its technical feasibility, an assessment of the ballistic missile threat facing the United States, and the impact that NMD might have on arms control and arms reduction efforts. In contrast, President Bush has set no criteria to constrain deployment.
Topic:
International Relations, Foreign Policy, and Government
Political Geography:
United States

2413. U.S. Military Bases in Latin America and the Caribbean

Author:
John Lindsay-Poland
Publication Date:
08-2004
Content Type:
Policy Brief
Institution:
Foreign Policy In Focus
Abstract:
The United States maintains a complex web of military facilities and functions in Latin America and the Caribbean, what the U.S. Southern Command (known as SouthCom) calls its "theater architecture." U.S. military facilities represent tangible commitments to an ineffective supply-side drug war and to underlying policy priorities, including ensuring access to strategic resources, especially oil.
Topic:
International Relations, Foreign Policy, and Government
Political Geography:
United States, Latin America, and Caribbean

2414. Tax Effort and Tax Potential of State Governments in Mexico: A Representative Tax System

Author:
Horacio Sobarzo
Publication Date:
10-2004
Content Type:
Working Paper
Institution:
Kellogg Institute for International Studies
Abstract:
Over the last two decades, Mexico has modified its intergovernmental fiscal structure from a very centralized system to a distorted scenario where state governments have gained substantial expenditure functions and most of the taxation responsibilities have remained in the federal government. It is argued that to move towards a more fiscally responsible scenario, some decentralization on the taxation side is needed. In this context, by constructing a representative tax system (RTS), this paper evaluates tax effort and tax potential in Mexico. The results are a useful input for policy decision making, not only in the event of future tax decentralization attempts but also in designing a new transfer scheme. The results are also the first RTS constructed for the Mexican case, and show that regional data in Mexico is gradually improving. Also, while the results shed some light as to which taxes could potentially be decentralized, the article warns about the fact that regional disparities in the country may well be a limitation on the extent to which taxes can be decentralized.
Topic:
Government and Political Economy
Political Geography:
North America and Mexico

2415. A Sequential Theory of Decentralization and its Effects on the Intergovernmental Balance of Power: Latin American Cases in Comparative Perspective

Author:
Tulia G. Falleti
Publication Date:
07-2004
Content Type:
Working Paper
Institution:
Kellogg Institute for International Studies
Abstract:
Both advocates and critics of decentralization assume that decentralization invariably increases the power of subnational governments. However, a closer examination of the consequences of decentralization across countries reveals that the magnitude of such change can range from substantial to insignificant. To explain this variation, I propose a sequential theory of decentralization that has three main characteristics: a) it defines decentralization as a process; b) it takes into account the territorial interests of bargaining actors; and c) it incorporates policy feedback effects in the analysis of bargaining situations. I argue that the sequencing of different types of decentralization (fiscal, administrative, and political) is a key determinant of the evolution of intergovernmental balance of power. I measure this evolution in the four largest Latin American countries and apply the theory to the two extreme cases: Colombia and Argentina. I show that, contrary to commonly held opinion, decentralization in Argentina did not increase the power of governors and mayors relative to the president. In contrast, in Colombia, a different sequence of decentralization reforms led to higher degrees of autonomy of the governors and mayors relative to the president.
Topic:
Government and Politics
Political Geography:
Argentina, Colombia, and Latin America

2416. Institutional Foundations of Economic Freedom: A time-series cross-section analysis

Author:
Xavier de Vanssay, Vincent Hildebrand, and Zane A. Spindler
Publication Date:
05-2004
Content Type:
Working Paper
Institution:
Independent Institute
Abstract:
Using time-series cross-section analysis, we provide additional empirical validation for the principal-agent model developed by Adserà, et al. (2003). In our innovation, efficient economic policy is proxied by “economic freedom” from the Fraser Institute database and “political institutions” are proxied by variables from the Database of Political Institutions. Our results suggest that the more credible the threat of removal from office, the more government officials will pursue efficient economic policies.
Topic:
Development, Economics, Government, and Political Economy

2417. The U.S. – ROK Alliance: Building a Mature Partnership

Author:
James J. Przystup and Kang Choi
Publication Date:
03-2004
Content Type:
Working Paper
Abstract:
In thinking about the future direction of the alliance between the United States and South Korea, one needs to start in the past. For in this case, the past is truly prologue. More than a decade ago, as President George H.W. Bush came into office, structural changes in the security landscape of Asia were becoming manifest. The Cold War was winding down. Congress and the American public were looking for returns on the “peace dividend.” There was a clear expectation that cuts would be coming across the board — and in Asia, these cuts would begin with the Korean Peninsula.
Topic:
Security and Government
Political Geography:
United States, Israel, Asia, South Korea, and Korea

2418. Strategic Surprises for a New Administration

Author:
Jason R. Wisniewski
Publication Date:
09-2004
Content Type:
Working Paper
Institution:
Institute for the Study of Diplomacy, Edmund A. Walsh School of Foreign Service, Georgetown University
Abstract:
The Institute for the Study of Diplomacy's Schlesinger Working Group met during the fall of 2004 to discuss potential strategic surprises that could confront a new administration. The group focused on identifying candidate surprises and scenarios that could appear early in its term. Some examples of events the group sought to anticipate included trend reversals, out-of-the blue surprises, or second-order surprises caused by currently “visible” possibilities. During its first meeting, held shortly before the presidential election, the group discussed over a dozen possible scenarios in political, military, economic, and environmental fields. This list was further developed in intensive discussion in early December. This report draws on those discussions whose purpose was not to predict but to think “outside the box,” and concludes with a set of policy recommendations for the second Bush Administration.
Topic:
International Relations, Diplomacy, and Government
Political Geography:
United States

2419. How Terrorism Affects American Diplomacy

Author:
Thomas O. Melia
Publication Date:
03-2004
Content Type:
Working Paper
Institution:
Institute for the Study of Diplomacy, Edmund A. Walsh School of Foreign Service, Georgetown University
Abstract:
Interviews with several dozen senior American diplomats-including ambassadors and others currently serving abroad-indicate that the daily conduct of U.S. diplomacy has recently been altered in significant ways by the elevated threat of terrorism against American interests made manifest on September 11, 2001; the worldwide War on Terror declared by President George W. Bush in consequence; and the prosecution of the war in Iraq, on which diplomats are as divided as other Americans regarding whether it is or is not part of the global War on Terror.
Topic:
International Relations, Diplomacy, and Government
Political Geography:
United States, Iraq, and America

2420. The Future of UN State-Building: Strategic and Operational Challenges and the Legacy of Iraq

Author:
Kirsti Samuels and Sebastian von Einsiedel
Publication Date:
05-2004
Content Type:
Working Paper
Institution:
International Peace Institute
Abstract:
Whether by accident or design, the United Nations increasingly finds itself in operations that seek to build or re-build the institutions of a state. This report discusses the challenges facing the UN in such state-building activities in the post-Iraq environment. Three sorts of challenges are reviewed: those arising from a lack of conceptual clarity on the aim of state-building, those resulting from the transformed strategic environment, and those operational and strategic challenges inherent to the complex task of state-building.
Topic:
Development, Government, and United Nations
Political Geography:
Iraq and Middle East

2421. "A house isn't a home without a gun" - SALW Survey of Montenegro

Publication Date:
07-2004
Content Type:
Working Paper
Institution:
South Eastern Europe Clearinghouse for the Control of Small Arms and Light Weapons
Abstract:
The SALW Survey of the Republic of Montenegro was conducted by a team of researchers from the Small Arms Survey during September to December 2003. It was funded by SEESAC for two reasons: 1) to establish management information for the design of future SALW control intervention projects within the Republic of Montenegro; and 2) to field test the recently drafted SALW Survey protocols and draft Regional Micro-Disarmament Standard (RMDS) 05.80 - SALW Survey. As such, it is the first SALW Survey to be officially conducted in accordance with the SALW Survey protocols, although previous SALW surveys and 'needs assessments' have utilised similar methodologies.
Topic:
Arms Control and Proliferation, Civil Society, and Government
Political Geography:
Europe

2422. Bi-Annual Report: 01 January - 30 June 2004

Publication Date:
06-2004
Content Type:
Working Paper
Institution:
South Eastern Europe Clearinghouse for the Control of Small Arms and Light Weapons
Abstract:
In November 2001 the Stability Pact for South Eastern Europe adopted a Regional Implementation Plan on Combating the Proliferation of Small Arms and Light Weapons in South Eastern Europe, which provides a framework of approaches and measures to tackle SALW issues that can be adopted by the countries of the region and supported by international organisations and bi-lateral donors. The Implementation Plan included provision for the establishment of a regional clearinghouse to support its implementation, and on the basis of this mandate SEESAC was officially launched in Belgrade on the 08 May 2002 as a joint UNDP and Stability Pact initiative.
Topic:
Arms Control and Proliferation, Civil Society, and Government
Political Geography:
Europe

2423. Bi-Annual Report: 01 July - 31 December 2003

Publication Date:
01-2004
Content Type:
Working Paper
Institution:
South Eastern Europe Clearinghouse for the Control of Small Arms and Light Weapons
Abstract:
In November 2001 the Stability Pact for South Eastern Europe adopted a Regional Implementation Plan on Combating the Proliferation of Small Arms and Light Weapons in South Eastern Europe, which provides a framework of approaches and measures to tackle SALW issues that can be adopted by the countries of the region and supported by international organisations and bi-lateral donors. The Implementation Plan included provision for the establishment of a regional clearinghouse to support its implementation, and on the basis of this mandate SEESAC was officially launched in Belgrade on the 08 May 2002 as a joint UNDP and Stability Pact initiative.
Topic:
Arms Control and Proliferation, Civil Society, and Government
Political Geography:
Europe

2424. Policymaking and Caseload Dynamics: Homeless Shelters

Author:
William McAllister
Publication Date:
08-2004
Content Type:
Working Paper
Institution:
Institute for Social and Economic Research and Policy at Columbia University
Abstract:
Many social problems can be understood as “conceptual caseloads”, e.g., people in poverty, and actual programmatic caseloads are a major, specific concern for policymakers and public administrators. Thus, a crucial and fairly general concern is how caseloads—whether conceptual or programmatic—can be reduced. To address this concern, officials often fall back on politically or intuitively attractive ideas—preventing people from entering caseloads, for example. Failure to incorporate caseload dynamics, however, may mean prevention and other caseload reduction policies will deliver much less than promised, and may cause caseloads to grow. In this paper, we first show how caseload size depends only on the number of entrants to a caseload and the rate at which people leave a caseload. With this framework in mind, we then address two common, seemingly appropriate policy responses: preventing entrants and hastening leaving. However, we show how too little is now known about homeless prevention to pin high hopes on its utility and that some social welfare problems, like homelessness, may be too inhospitable for prevention's logic. We then explain how allocating resources to hasten leaving is not as straightforward as policymakers have assumed but rather must recognize caseload dynamics to avoid unintended growth. We conclude by explaining some limits and opportunities in using caseload dynamics for policymaking.
Topic:
Conflict Resolution, Economics, Government, and Poverty

2425. Abusing History: A Critical Analysis of Mainstream International Relations Theory Misconduct

Author:
Anne Marie D'Aoust
Publication Date:
12-2004
Content Type:
Working Paper
Institution:
The Raoul Dandurand Chair of Strategic and Diplomatic Studies, Université du Québec à Montréal
Abstract:
In Political Science, the discipline of IR has been widely regarded as an “American Science” ever since Stanley Hoffman published his renowned essay in 1977. This “American Science” is mainly dominated by a single theoretical approach – that of Neorealism – which relies primarily on the concept of historical recurrence to ground its arguments. Other “new” theoretical approaches which challenge this parochialism, namely feminism, constructivism and Critical Theory, remain outside the “official boundaries” of the field. These boundaries are largely set by the Neorealist agenda and its variations, which rarely diverge from an unquestioned central rationalist-empiricist theme. Thus, with respect to its methodological and epistemological stance, Neorealist theory implicitly views History as a vast field of objective data and primary sources ready to reveal their truth to the social scientist. To test and/or prove the validity of Neorealist theory in the field of International Relations, one must refer to historical data and confront theory with “straight facts”. What I propose to do here is to analyze the ways in which the Neorealist approach to International Relations makes use of history, and subsequently to consider some crucial epistomological and theoretical debates in the field of History that are ignored by Neorealists like Waltz.
Topic:
International Relations, Development, Government, and Politics
Political Geography:
America

2426. Corporate Governance and the Shareholder Base

Author:
Francis E. Warnock and Karl V. Lins
Publication Date:
08-2004
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
This paper uses a sample of 4,410 firms from 29 countries to investigate the relation between corporate governance and the shareholder base. In contrast to previous work, our results strongly support the notion that poor corporate governance, at both the firm and country level, negatively impacts the willingness of foreign investors to hold a firm's equity. Specifically, we find that firms whose managers have sufficiently high control rights that they may reasonably be expected to expropriate minority equity investors attract significantly less U.S. investment, especially in countries with poor external governance. Our findings suggest that the prices U.S. investors are asked to pay for firms with poor governance are not low enough to fully compensate them for expected expropriation or increased estimation risk associated with expected poor disclosure by these firms. Because prior research shows that a smaller shareholder base is associated with a lower firm value, our results are consistent with the notion that the shareholder base represents an important channel through which poor expected corporate governance contributes to a reduction in firm value.
Topic:
Economics, Government, and International Trade and Finance
Political Geography:
United States

2427. Look at Me Now: The Role of Cross-Listing in Attracting U.S. Investors

Author:
Francis E. Warnock, John Ammer, Sara B. Holland, and David C. Smith
Publication Date:
08-2004
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
We use a comprehensive 1997 survey to examine U.S. investors' preferences for foreign equities. We document a variety of firm characteristics that can influence U.S. investment, but the most important determinant is whether the stock is cross-listed on a U.S. exchange. Our selection bias-corrected estimates imply that firms that cross-list can increase their U.S. holdings by 8 to 11 percent of their market capitalization, roughly doubling the amount held without cross-listing. All else equal, we find that firms experience smaller increases in U.S. shareholdings upon cross-listing if they are Canadian, from English speaking countries, are members of the MSCI World index, or had higher quality accounting standards prior to crosslisting. We argue that these findings suggest that improvements in information production explain U.S. investors' attraction to foreign stocks that cross-list in the United States.
Topic:
Economics, Government, and International Trade and Finance
Political Geography:
United States and Canada

2428. PPP Rules, Macroeconomic (In)stability and Learning

Author:
Luis-Felipe Zanna
Publication Date:
08-2004
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
Governments in emerging economies have pursued real exchange rate targeting through Purchasing Power Parity (PPP) rules that link the nominal depreciation rate to either the deviation of the real exchange rate from its long run level or to the difference between the domestic and the foreign CPI-inflation rates. In this paper we disentangle the conditions under which these rules may lead to endogenous fluctuations due to self-fulfilling expectations in a small open economy that faces nominal rigidities. We find that besides the specification of the rule, structural parameters such as the share of traded goods (that measures the degree of openness of the economy) and the degrees of imperfect competition and price stickiness in the non-traded sector play a crucial role in the determinacy of equilibrium. To evaluate the relevance of the real (in)determinacy results we pursue a learnability (E-stability) analysis for the aforementioned PPP rules. We show that for rules that guarantee a unique equilibrium, the fundamental solution that represents this equilibrium is learnable in the E-stability sense. Similarly we show that for PPP rules that open the possibility of sunspot equilibria, a common factor representation that describes these equilibria is also E-stable. In this sense sunspot equilibria and therefore aggregate instability are more likely to occur due to PPP rules than previously recognized.
Topic:
Economics, Government, and International Trade and Finance
Political Geography:
United States

2429. Is The Corporate Loan Market Globally Integrated? A Pricing Puzzle

Author:
Mark Carey and Gregory P. Nini
Publication Date:
08-2004
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
We offer evidence that interest rate spreads on syndicated loans to corporate borrowers are economically significantly smaller in Europe than in the U.S., other things equal. Differences in borrower, loan and lender characteristics associated with equilibrium mechanisms suggested in the literature do not appear to explain the phenomenon. Borrowers overwhelmingly issue in their natural home market, and bank portfolios display significant home “bias.” This may explain why pricing discrepancies are not competed away, but the fundamental causes of the discrepancies remain a puzzle. Thus, important determinants of loan origination market outcomes remain to be identified, home “bias” appears to be material for pricing, and corporate financing costs differ in Europe and the U.S.
Topic:
Economics, Government, and International Trade and Finance
Political Geography:
United States and Europe

2430. Does Monetary Policy Keep Up with the Joneses? Optimal Interest-Rate Smoothing with Consumption Externalities

Author:
Sanjay Chugh
Publication Date:
07-2004
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
Changes in monetary policy are typically implemented gradually, an empirical observation known as interest-rate smoothing. We propose the explanation that timenon- separable preferences may render interest-rate smoothing optimal. We find that when consumers have “catching-up-with-the-Joneses” preferences, optimal monetary policy reacts gradually to shocks to prevent inefficiently fast adjustments in consumption. We also extend our basic model to investigate the effects of capital formation and nominal rigidities on the dynamics of optimal monetary policy. Optimal policy responses continue to be gradual in the presence of capital and sticky prices, with a size and speed that are in line with empirical findings for the U.S. economy. Our results emphasize that gradualism in monetary policy may be needed simply to guide the economy on an optimally smooth path.
Topic:
Economics, Government, and International Trade and Finance
Political Geography:
United States

2431. The ET Interview: Professor David F. Hendry

Author:
Neil R. Ericsson
Publication Date:
07-2004
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
This interview for Econometric Theory explores David Hendry's research. Issues discussed include estimation and inference for nonstationary time series; econometric methodology; strategies, concepts, and criteria for empirical modeling; the general-to-specific approach, as implemented in the computer packages PcGive and PcGets; computer-automated model selection procedures; David's textbook Dynamic Econometrics; Monte Carlo techniques (PcNaive); evaluation of these developments in simulation studies and in empirical investigations of consumer expenditure, money demand, inflation, and the housing and mortgage markets; economic forecasting and policy analysis; the history of econometric thought; and the use of computers for live empirical and Monte Carlo econometrics.
Topic:
Economics, Government, and International Trade and Finance
Political Geography:
United States

2432. 9-11 Commission Final Report

Publication Date:
07-2004
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
We present the narrative of this report and the recommendations that flow from it to the President of the United States, the United States Congress, and the American people for their consideration. Ten Commissioners—five Republicans and five Democrats chosen by elected leaders from our nation's capital at a time of great partisan division—have come together to present this report without dissent.
Topic:
Foreign Policy, Diplomacy, and Government
Political Geography:
United States

2433. Understanding the Effects of Government Spending on Consumption

Author:
Jordi Gali, J. David Lopez-Salido, and Javier Valles
Publication Date:
04-2004
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
Recent evidence on the effect of government spending shocks on consumption cannot be easily reconciled with existing optimizing business cycle models. We extend the standard New Keynesian model to allow for the presence of rule-of-thumb (non- Ricardian) consumers. We show how the interaction of the latter with sticky prices and deficit financing can account for the existing evidence on the effects of government spending.
Topic:
Security, Economics, Government, and International Trade and Finance

2434. The Decline of Activist Stabilization Policy: Natural Rate Misperceptions, Learning, and Expectations

Author:
Athanasios Orphanides and John C. Williams
Publication Date:
04-2004
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
We develop an estimated model of the U.S. economy in which agents form expectations by continually updating their beliefs regarding the behavior of the economy and monetary policy. We explore the effects of policymakers' misperceptions of the natural rate of unemployment during the late 1960s and 1970s on the formation of expectations and macroeconomic outcomes. We find that the combination of monetary policy directed at tight stabilization of unemployment near its perceived natural rate and large real-time errors in estimates of the natural rate uprooted heretofore quiescent inflation expectations and destabilized the economy. Had monetary policy reacted less aggressively to perceived unemployment gaps, inflation expectations would have remained anchored and the stagflation of the 1970s would have been avoided. Indeed, we find that less activist policies would have been more effective at stabilizing both inflation and unemployment. We argue that policymakers, learning from the experience of the 1970s, eschewed activist policies in favor of policies that concentrated on the achievement of price stability, contributing to the subsequent improvements in macroeconomic performance of the U.S. economy.
Topic:
Economics, Government, and International Trade and Finance
Political Geography:
United States

2435. Benefits and Spillovers of Greater Competition in Europe: A Macroeconomic Assessment

Author:
Tamim Bayoumi, Douglas Laxton, and Paolo Pesenti
Publication Date:
04-2004
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
Using a general-equilibrium simulation model featuring nominal rigidities and monopolistic competition in product and labor markets, this paper estimates the macroeconomic benefits and international spillovers of an increase in competition. After calibrating the model to the euro area vs. the rest of the industrial world, the paper draws three conclusions. First, greater competition produces large effects on macroeconomic performance, as measured by standard indicators. In particular, we show that differences in competition can account for over half of the current gap in GDP per capita between the euro area and the US. Second, it may improve macroeconomic management by increasing the responsiveness of wages and prices to market conditions. Third, greater competition can generate positive spillovers to the rest of the world through its impact on the terms of trade.
Topic:
Economics, Government, and International Trade and Finance
Political Geography:
Europe

2436. Monetary Discretion, Pricing Complementarity and Dynamic Multiple Equilibria

Author:
Robert G. King and Alexander L. Wolman
Publication Date:
04-2004
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
In a plain-vanilla New Keynesian model with two-period staggered price-setting, discretionary monetary policy leads to multiple equilibria. Complementarity between the pricing decisions of forward-looking firms underlies the multiplicity, which is intrinsically dynamic in nature. At each point in time, the discretionary monetary authority optimally accommodates the level of predetermined prices when setting the money supply because it is concerned solely about real activity. Hence, if other firms set a high price in the current period, an individual firm will optimally choose a high price because it knows that the monetary authority next period will accommodate with a high money supply. Under commitment, the mechanism generating complementarity is absent: the monetary authority commits not to respond to future predetermined prices. Multiple equilibria also arise in other similar contexts where (i) a policymaker cannot commit, and (ii) forward-looking agents determine a state variable to which future policy responds.
Topic:
Economics, Government, and International Trade and Finance

2437. The Optimal Degree of Discretion in Monetary Policy

Author:
Susan Athey, Andrew Atkeson, and Patrick J. Kehoe
Publication Date:
04-2004
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
How much discretion should the monetary authority have in setting its policy? This question is analyzed in an economy with an agreed-upon social welfare function that depends on the randomly fluctuating state of the economy. The monetary authority has private information about that state. In the model, well-designed rules trade off society's desire to give the monetary authority discretion to react to its private information against society's need to guard against the time inconsistency problem arising from the temptation to stimulate the economy with unexpected inflation. Although this dynamic mechanism design problem seems complex, society can implement the optimal policy simply by legislating an inflation cap that specifies the highest allowable inflation rate. The more severe the time inconsistency problem, the more tightly the cap constrains policy and the smaller is the degree of discretion. As this problem becomes sufficiently severe, the optimal degree of discretion is none.
Topic:
Civil Society, Economics, Government, and International Trade and Finance
Political Geography:
Europe

2438. Equal Size, Equal Role? Interest Rate Interdependence Between the Euro Area and the United States

Author:
Michael Ehrmann and Marcel Fratzscher
Publication Date:
04-2004
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
This paper investigates whether the degree and the nature of economic and monetary policy interdependence between the United States and the euro area have changed with the advent of EMU. Using real-time data, it addresses this issue from the perspective of financial markets by analysing the effects of monetary policy announcements and macroeconomic news on daily interest rates in the United States and the euro area. First, the paper finds that the interdependence of money markets has increased strongly around EMU. Although spillover effects from the United States to the euro area remain stronger than in the opposite direction, we present evidence that US markets have started reacting also to euro area developments since the onset of EMU. Second, beyond these general linkages, the paper finds that certain macroeconomic news about the US economy has a large and significant effect on euro area money markets, and that these effects have become stronger in recent years. Finally, we show that US macroeconomic news has become good leading indicators for economic developments in the euro area. This indicates that the higher money market interdependence between the United States and the euro area is at least partly explained by the increased real integration of the two economies in recent years.
Topic:
Economics, Government, and International Trade and Finance
Political Geography:
United States

2439. Privatization in Brcko District: Why It Is Different and Why It Works

Author:
Henry L. Clarke
Publication Date:
01-2004
Content Type:
Working Paper
Institution:
The Wilson Center
Abstract:
The Brcko District of Bosnia and Herzegovina is small, with less than 100,000 people. In 2001, about 30 public companies were selected for privatization. At the outset, there were good reasons to ask whether the District would have any success in privatizing them. Many of the public companies had been shut down for up to ten years, while the rest were operating at a small fraction of their pre-1991 output. There was not a single company that was profitable enough to be sold successfully on the basis of its performance, none had adequate working capital or marketing arrangements, many were deeply in debt, some had too many nonworking “employees” and the equipment of most companies that was not damaged during the war was worn out or obsolete.
Topic:
Debt, Government, Politics, and Privatization
Political Geography:
Europe, Bosnia, and Herzegovina

2440. The Presidential Crisis in Lithuania: Its Roots and the Russian Factor

Author:
Richard J. Krickus
Publication Date:
01-2004
Content Type:
Working Paper
Institution:
The Wilson Center
Abstract:
The purpose of this paper is to address two questions associated with Lithuania's political crisis in 2004. First, what were the domestic circumstances that led to the impeachment of Lithuania's President, Rolandas Paksas? Second, what evidence is there that Russia has played a significant role in the crisis and what are the motives behind Moscow's meddling in Lithuania's internal affairs? Answers to these questions are pertinent to the fate of countries throughout post-communist Europe, given their common history and geography. In addition, they provide the framework for addressing a third question that must be answered by the European Union (EU), NATO and the United States: what can be done about these two-fold threats to the newest members of the Western alliance?
Topic:
Democratization, Government, and Politics
Political Geography:
Russia, United States, Europe, Lithuania, and Moscow

2441. Turbulent Transition in Iraq: Can It Succeed?

Author:
Judith S. Yaphe
Publication Date:
06-2004
Content Type:
Working Paper
Abstract:
One year after liberation, most Iraqis are impatient with the military occupation of their country. Although grateful for the removal of Saddam Hussein's cruel and repressive regime, many assumed the United States and its coalition members would soon go home and leave them to sort out their political, economic, and military fate. The war, after all, had been fought to liberate Iraqis from political tyranny, not to defeat the Iraqi people. Both U.S. and Iraqi expectations were high that the transition from oppression to democracy would be smooth and quick and that Iraqi political elites would move swiftly to ensure democratic rule.
Topic:
Government and Religion
Political Geography:
United States, Iraq, and Arabia

2442. China Brief, Energy Concerns and China's Unresolved Territorial Disputes

Author:
Matthew Oresman, Drew Thompson, John C.k. Daly, and Harvey Stockwin
Publication Date:
12-2004
Content Type:
Policy Brief
Institution:
The Jamestown Foundation
Abstract:
While much of the world is fixated on China's booming economic growth and its ravenous appetite for energy, untidy diplomatic loose ends in the form of territorial disputes with neighbors have many of the countries bordering the Asian giant nervous. Though Beijing's claims over Taiwan remain the focus of world attention, China is embroiled in unresolved territorial maritime and land issues with no less than thirteen of its neighbors. Given that China's military capability is growing apace with its economy, the potential for military conflict over the disputed regions is similarly on the rise. While China up to now has attempted to address these issues diplomatically, the fact that many of the unresolved border disputes involve potential energy reserves might prompt China to use military force to resolve issues of strategic economic interest.
Topic:
International Relations, Government, and Political Economy
Political Geography:
China, Israel, Taiwan, Beijing, and Asia

2443. China Brief, Beijing's North Korean Gambit

Author:
Willy Lam, Lionel Martin, John Tkacik, and Toby Lincoln
Publication Date:
10-2004
Content Type:
Policy Brief
Institution:
The Jamestown Foundation
Abstract:
Beijing is flashing the North Korean (DPRK) card at a time when the Chinese Communist Party (CCP) leadership feels increasingly threatened by an anti-China “containment policy” that Washington is supposedly spearheading with the help of Japan, Taiwan and other Asian countries and regions.
Topic:
International Relations, Government, and Political Economy
Political Geography:
Japan, China, Washington, Israel, Taiwan, Beijing, Asia, and North Korea

2444. China Brief, China's Quest for Energy Security

Author:
Wenran Jiang, Willy Lam, Dennis J. Blasko, and Eric Teo
Publication Date:
10-2004
Content Type:
Policy Brief
Institution:
The Jamestown Foundation
Abstract:
The year is 2008. The setting is the vast West Pacific region. To break the US-Japan- Taiwan military containment of China, the combined air, navy and armed forces of the Chinese Liberation Army (PLA), equipped with newly established carrier battle groups, have destroyed all U.S. military bases in the region, taken control of all strategic sea routes from the Strait of Malacca to the Persian Gulf, and imposed an oil embargo to choke the U.S., Japan, Taiwan and their allies.
Topic:
International Relations, Government, and Political Economy
Political Geography:
Japan, China, Israel, and Taiwan

2445. China Brief, Hu Jintao's Move to Consolidate Power

Author:
Eugene Kogan, Willy Lam, Drew Thompson, Dennis J. Blasko, and Zhu Feng
Publication Date:
09-2004
Content Type:
Policy Brief
Institution:
The Jamestown Foundation
Abstract:
President and Central Military Commission (CMC) Chairman Hu Jintao has moved swiftly to tighten his grip over the People's Liberation Army (PLA). The emphasis that the new commander-in-chief has put on flexing the nation's fast-growing military muscle has fed speculation that he will be taking a more hard-line stance on relations with the U.S. and with Taiwan. However, it is unlikely that the predominant Hu-Wen Faction – a reference to the leadership team under Hu and Premier Wen Jiabao – will unveil too many major initiatives until it has consolidated its control over the Chinese Communist Party (CCP), the government and the army.
Topic:
International Relations, Government, and Political Economy
Political Geography:
United States, China, Israel, and Taiwan

2446. China Brief, Hong Kong's LegCo Elections: Overcoming the System

Author:
Christine Loh, Willy Lam, Eric Teo, and Zhenzhen Chen
Publication Date:
09-2004
Content Type:
Policy Brief
Institution:
The Jamestown Foundation
Abstract:
The 1.784 million voters that participated in Hong Kong's 2004 Legislative Council Election gave a clear signal that they want democracy sooner rather than later. Whereas until now Hong Kongers have only been able to select the opposition, the recent elections indicated the people's desire to elect their city government. However, herein lies the uniqueness of Hong Kong's political system. Despite the city's many achievements in education standards, economic vibrancy, and social stability, its seven million people have yet to be allowed to freely choose their municipal political leaders.
Topic:
International Relations, Government, and Political Economy
Political Geography:
China and Israel

2447. China Brief, China and Japan: The Separation of Economics and Politics

Author:
Christine Loh, Eugene Kogan, Willy Lam, Drew Thompson, and Zhu Feng
Publication Date:
09-2004
Content Type:
Policy Brief
Institution:
The Jamestown Foundation
Abstract:
The soon-to-be-announced appointment of former Vice-Foreign Minister Wang Yi as Chinese Ambassador to Japan is emblematic of efforts by the Hu Jintao-Wen Jiabao leadership to improve Sino-Japanese relationship. In the past year, bilateral ties have deteriorated due to a host of issues ranging from “the question of history” – and compensation for World War II-related damages – to altercations over rights to oil and gas under the East China Sea. Protests by nationalistic Chinese groupings outside the Japanese Embassy in Beijing, banned until about two years ago, have become almost routine. Ugly scenes at a recent soccer match between the two national teams in the Chinese capital demonstrated the hostility with which many Chinese regard their nextdoor neighbor. And in Japan, the “China threat” theory is fast gaining ground owing to the perception that an economically and militarily strong China is throwing its weight around and threatening Japanese interests everywhere.
Topic:
International Relations, Government, and Political Economy
Political Geography:
Japan, China, and Israel

2448. China Brief, New Challenges in the Election Season

Author:
Stephen Green, Willy Lam, Eric Teo, and Alexandr Nemets
Publication Date:
08-2004
Content Type:
Policy Brief
Institution:
The Jamestown Foundation
Abstract:
Although the Chinese leadership faces no electoral contenders, Beijing will soon have to deal with two uncertain but crucial elections in the next four months, the consequences of which could have serious implications for China's internal political cohesiveness as well as regional stability. In September, Hong Kongers will elect their Legislative Council (Legco), of which 30 seats are set aside for election through universal suffrage and the other 30 through “functional representation.” And in December, Taiwanese go to the polls to choose their next Legislative Yuan (Taiwan's legislature), nine months after they had renewed the mandate of President Chen Shui-Bian for a second term in March.
Topic:
International Relations, Government, and Political Economy
Political Geography:
China, Israel, and Taiwan

2449. China Brief,Beijing's Reaction to East Asia's Changing Alliance

Author:
Christine Loh, Willy Lam, Eric Teo, and Steven Sun
Publication Date:
07-2004
Content Type:
Policy Brief
Institution:
The Jamestown Foundation
Abstract:
If China had sufficient economic and military prowess, there seems little doubt the Chinese Communist Party (CCP) leadership would “go teach the U.S. a lesson” for the wrongs it had allegedly inflicted upon on the country. Previous CCP administrations had used similar clauses of indignation – and the assertion of a moral high ground based on self-defense and the preservation of sovereign rights – when they went to war with nations including India, Russia and Vietnam. And while the Chinese party and military leadership may for the time being be deterred by America's superpower status from trying out something rash, tension between China on the one hand, and the U.S. and many Asian countries on the other, is expected to rise in the foreseeable future.
Topic:
International Relations, Government, and Political Economy
Political Geography:
Russia, China, America, Asia, and Vietnam

2450. China Brief, No More 'Soft Sell' for Hong Kong

Author:
Willy Lam, Zhu Feng, Kevin Scott, Marat Yermukanov, and Andrew Thompson
Publication Date:
07-2004
Content Type:
Policy Brief
Institution:
The Jamestown Foundation
Abstract:
Beijing has acted quickly to dash the hopes that the half-a-million-people rally in Hong Kong last week will change the leadership's hard-line stance toward universal-suffrage elections in the special administrative region (SAR). While the Chinese Communist Party (CCP) has continued with its public-relations, united-front offensive to win hearts and minds in the territory, it is expected to step up its divide-and-run tactics in order to isolate and marginalize pro-democracy politicians and intellectuals who dare challenge Beijing's suzerainty.
Topic:
International Relations, Government, and Political Economy
Political Geography:
China, Israel, Beijing, and Hong Kong

2451. China Brief, A Prisoner's Dilemma: The EU's China Arms Embargo

Author:
Willy Lam, Richard A. Bitzinger, Alexandr Nemets, and Enzio Von Pfeil
Publication Date:
06-2004
Content Type:
Policy Brief
Institution:
The Jamestown Foundation
Abstract:
In April, the European Union (EU) dodged a bullet by refusing to take up the issue of overturning its 15-year-old ban on selling arms to China. Supporters of lifting the embargo, led by France and Germany, are unlikely to abandon their quest, however, and the issue will likely come up again for review, perhaps as early as this summer. If it lifts the ban, the EU risks further damaging a transatlantic alliance already strained over Iraq and other issues, with very little likelihood that its defense industry would see much, if any, benefit.
Topic:
International Relations, Government, and Political Economy
Political Geography:
China, Europe, and Israel

2452. China Brief, A Warming Friendship: Part II of a Two Part Series on China, Taiwan, and Latin America

Author:
Willy Lam, Drew Thompson, Cynthia Watson, and James P. Jr. Muldoon
Publication Date:
06-2004
Content Type:
Policy Brief
Institution:
The Jamestown Foundation
Abstract:
The recent spate of articles on China's growing energy and natural resource consumption is a key explanation for Beijing's growing interest in South America. While the continent remains at least fourth on China's list of priorities, the vast array of resources available, coupled with a growing population eager to increase its consumption of goods, makes this part of the world ever more enticing. The People's Republic of China (PRC) seeks to put a modest investment in diplomatic, military, cultural, and trade relations for a possible long-term gain of significant proportion.
Topic:
International Relations, Government, and Political Economy
Political Geography:
China, Israel, Beijing, and South America

2453. China Brief, Balancing U.S. Interests in the Strait

Author:
Ronald N. Montaperto, Willy Lam, Cynthia Watson, and Jean-Pierre Cabestan
Publication Date:
05-2004
Content Type:
Policy Brief
Institution:
The Jamestown Foundation
Abstract:
In the view of many observers, the normalization of Sino-American relations signaled the end of a strategic relationship with the Republic of China (Taiwan) that had endured with but one brief interruption for forty years. The rapid growth of economic ties between the U.S. and mainland China in the 1980s seemed to confirm this assessment. Although political connections through the Taiwan Relations Act (TRA) remain strong, the major benefit to the United States of its unofficial relationship to the island lies in the economic realm.
Topic:
International Relations, Government, and Political Economy
Political Geography:
United States, China, Israel, and Taiwan

2454. China Brief, The Dragon's Drive for Caspian Oil

Author:
Ahmad Lutfi, John C. K. Daly, Stephen Bank, and Sergei Troush
Publication Date:
05-2004
Content Type:
Policy Brief
Institution:
The Jamestown Foundation
Abstract:
China's insatiable energy thirst is causing it to undertake a global search for energy supplies to sustain its booming economy. Beijing has injected itself into the complex Caspian chess match to ensure itself as large a share as possible of resources being developed there. This complex political and economic maneuvering forces China to deal with the Caspian's five riparian states - Russia, Azerbaijan, Iran, Kazakhstan and Turkmenistan.
Topic:
International Relations, Government, and Political Economy
Political Geography:
Russia, China, Iran, Israel, Kazakhstan, Beijing, Azerbaijan, and Turkmenistan

2455. China Brief, Kim Jong-Il's Visit to Beijing: What Does it Mean for the West?

Author:
Mohan Malik, Matthew Oresman, Willy Lam, and Paul H.B Godwin
Publication Date:
04-2004
Content Type:
Policy Brief
Institution:
The Jamestown Foundation
Abstract:
The unusually effusive reception that the Chinese leadership accorded Dear Leader Kim Jong-Il last week has buttressed speculation that Beijing and Pyongyang probably reached some form of a deal even prior to the long awaited visit. According to diplomatic sources in Beijing, Kim agreed during discussions with his Chinese hosts to take a “more serious and proactive stance” toward the ongoing six-nation talks on dismantling his country's weapons of mass destruction (WMD). Moreover, the sources said the reclusive leader pledged that unless there was further “provocation” from the United States, Pyongyang would not engage in tension raising gimmicks such as testing bombs or missiles. And, at least for the time being, a freeze would be put on the development of new WMD.
Topic:
International Relations, Government, and Political Economy
Political Geography:
United States, China, Israel, Beijing, and Pyongyang

2456. China Brief,China's Reaction to America's Iraq Imbroglio

Author:
You Ji, Igor Rotar, Willy Lam, and Eric Teo
Publication Date:
04-2004
Content Type:
Policy Brief
Institution:
The Jamestown Foundation
Abstract:
The Chinese Communist Party (CCP) leadership has been at pains not to appear to be gloating over the American quagmire in Iraq. Yet in terms of geopolitical calculus, there is little doubt Beijing sees America's worsening problems in Iraq as beneficial to China's global standing, diplomatically and militarily. Capitalizing on fissures in the international community over Iraq and America's war on terror, China has strengthened ties with key members of the European Union and the United Nations in an effort to counterbalance U.S. hegemony. Meanwhile, Chinese experts' scrutiny of the exploits as well as challenges of American and Allied Forces in Iraq will have a big impact on the People's Liberation Army's (PLA) ambitious modernization drive.
Topic:
International Relations, Government, and Political Economy
Political Geography:
China, Iraq, America, Europe, Israel, and Beijing

2457. China Brief, Chen shui-bian after the election: lame duck or phoenix?

Author:
Bernard D. Cole, Willy Lam, Arnold Zeitlin, and Harvey Stockwin
Publication Date:
04-2004
Content Type:
Policy Brief
Institution:
The Jamestown Foundation
Abstract:
Beijing's unusually cautious response to Taiwan's disputed presidential polls shows that the Chinese Communist Party (CCP) leadership has yet to come to a consensus on how to deal with four more years of administration under 'splittis' President Chen Shui-bian. This, despite the fact that with the country's fastgrowing economic, military and diplomatic clout, Beijing would seem to enjoy unquestioned superiority over the increasingly divided island of Taiwan.
Topic:
International Relations, Government, and Political Economy
Political Geography:
China, Israel, Taiwan, and Beijing

2458. China Brief,Cross-Strait Relations In Taiwan's Presi - Dential Elections

Author:
Willy Lam, Jonathan Mirsky, Enzio von Pfeil, and Ashok Kapur
Publication Date:
03-2004
Content Type:
Policy Brief
Institution:
The Jamestown Foundation
Abstract:
No military action for the Taiwan Strait--not even psychological warfare oriented missile drills such as those undertaken in late 1995 and early 1996--is being planned by the People's Liberation Army (PLA) for the coming year or so. And this will be true whether President Chen Shui-bian or his challenger, Kuomintang (KMT) Chairman Lien Chan, wins in the hotly contested polls on March 20. However, the Chinese Communist Party (CCP) leadership is readying hardball solutions to the reunification problem for the medium-term.
Topic:
International Relations, Government, and Political Economy
Political Geography:
China, Israel, and Taiwan

2459. China Brief, Understanding Chinaís North Korea Policy

Author:
Frank Ching, You Ji, Willy Lam, and Eric Teo
Publication Date:
03-2004
Content Type:
Policy Brief
Institution:
The Jamestown Foundation
Abstract:
The two rounds of six-party talks in Beijing on the Korean nuclear standoff have demonstrated China.s unusual support for a multilateral solution to the conflict. This is symbolic of the country.s new diplomacy under Hu Jintao and Wen Jiabo. As is typical, Beijing is seeking to maximize its diplomatic gains for reasons related to national prestige and regional stability. What is new, however, is that the two leaders are trying to achieve these goals by having China act as a status quo power rather than through revisionist behavior. This change is vividly reflected in the fact that China has proven more willing to cooperate with the United States and is more determined to pressure North Korea. This brief article attempts to evaluate some of the domestic and international factors that are driving China to sponsor the six-party talks. conflicts on the Peninsula.with severe security implications for China. In the last few years two schools of thought have emerged in Beijing with respect to Chinese policy toward the DPRK. The first of these is the .buffer zone. school. It argues that, Pyongyang.s ill intentions and unpredictable adventurism notwithstanding, North Korea.s very existence remains of great strategic value to a China whose worst security nightmare is that of another Korean war. Moreover, any regime change that might occur in the DPRK as a result of war could bring the deployment of U.S. troops to positions close to the Sino-Korean borders. And taking into consideration a possible showdown between China and the United States in the Taiwan Strait, this could result in a hostile military presence right on China.s doorstep. Indeed, it was precisely this worst case scenario that China fought a war fifty-four years ago to prevent.
Topic:
International Relations, Government, and Political Economy
Political Geography:
United States, China, Israel, Taiwan, Beijing, North Korea, Korea, and Pyongyang

2460. The Iraqi Insurgency & Iraq Security Force Development

Author:
Carl Conetta
Publication Date:
07-2004
Content Type:
Working Paper
Institution:
Project on Defense Alternatives
Abstract:
Progress toward a stable peace in Iraq and the withdrawal of US troops begins with the painful recognition that America's recent troubles are largely self-inflicted. This is due principally to the adoption of mission objectives that far exceed what is necessary or pragmatic.
Topic:
Conflict Resolution, Government, Politics, and War
Political Geography:
United States, Iraq, America, and Middle East

2461. Radical Departure: Toward A Practical Peace in Iraq

Author:
Carl Conetta
Publication Date:
07-2004
Content Type:
Working Paper
Institution:
Project on Defense Alternatives
Abstract:
The key to enabling total US troop withdrawal from Iraq within 400 days is achieving a political accord with Sunni leaders at all levels and with Iraq's neighbors - especially Syria and Iran. The proximal aim would be to immediately lower the level of conflict inside Iraq by constricting both active and passive support for the insurgency, inside and outside the country. This would allow the United States to shift resources to the training mission and to adopt other de-escalatory measures - most importantly: a withdrawal time line. The strategic price of this diplomatic initiative would be a return to self-governance in Sunni areas, a guaranteed level of representation for these areas in the national assembly, an end to broad-brush measures of de-Baathification, an amnesty for most indigenous insurgents and for most former Baathists, and a de-escalation of the US confrontation with Syria and Iran regarding a range of issues. In conjunction with these diplomatic initiatives, the United States would announce a tentative time line for withdrawal of its troops from Iraq -- associated with training milestones. Also: US forces would end major offensive sweeps inside the country, adopt a defensive posture, and shift the emphasis of their activity to training Iraqi security forces. Finally: the Iraqi government would re-activate portions of the old army -- partly as a confidence-building measure, but also in order to (i) rob insurgent organizations of their recruiting base, (ii) augment the power of the new Iraqi security forces, and (iii) produce a better ethnic balance in the new forces (which are currently dominated by Kurds and Shiites). As new forces increase in capacity, US forces would be removed, further reducing a stimulus of insurgent action. Four hundred days - 57 weeks - is sufficient time to complete several Iraqi training cycles, including field exercises for many units at the battalion and brigade levels. Some division level training also can occur. Given sufficient resources (24,000 training personnel), 100,000 Iraqi security personnel can receive remedial training and another 80,000 new personnel can be trained and exercised during this period. Together with the full provision of all appropriate equipment, this development effort can yield Iraqi security forces that are several times more capable than those it controls in mid-2005. After thirteen months, the only foreign military assets remaining in Iraq would be a small monitoring and training mission with a security detail: less than 10,000 foreign civilian and military personnel in all. US troops should constitute no more than one-third of the military component -- that is, approximately 2,000 troops. This mission should be conducted under a three-year UN mandate and joint NATO-international command. In addition, the United States might maintain a 25,000-person rapid reaction task force in the region, but outside either Iraq or Saudi Arabia.
Topic:
Conflict Resolution, Government, Politics, and War
Political Geography:
United States, Iraq, and Middle East

2462. In Liberty's Shadow: US Detention of Asylum Seekers in the Era of Homeland Security

Publication Date:
01-2004
Content Type:
Working Paper
Institution:
Human Rights First
Abstract:
When I set foot on American soil, I had finally reached the land of liberty, the land of peace, and I had a strong feeling of gratitude toward the Most High who had allowed me to escape death and to reach a life of freedom…. After completing my statement [at the airport]…[an] officer arrived with handcuffs. Then he handcuffed my wrists, but I sincerely thought this was a case of mistaken identity. Later on he explained to me that this was the established procedure. We left for [a county] prison. They put me in a cell where it was really cold, and I had no blanket with me. The idea of a land of liberty was beginning to be cast into serious doubt in my mind.
Topic:
Security, Government, Human Rights, and Terrorism
Political Geography:
United States and America

2463. Monitoring the presidential debates: Post-debate panels did not focus on hard issues

Author:
Senja Post
Publication Date:
10-2004
Content Type:
Working Paper
Institution:
Media Tenor International
Abstract:
After the third debate, network and cable news commentators and their expert guests differed in their opinions on who did better, after having been largely in agreement after the first and second debate. Media Tenor's Slant -o- meter analyzed the commentary following the debate on six TV channels. While ABC and NBC were moderate in their ratings of Kerry and Bush, CBS, FOX, CNN and PBS commentators were more vocal about their dislikes for one or the other of the candidates. Fox News presented the most favorable coverage of George W. Bush's performance and the most negative comments on John Kerry. While positive reports on Bush exceeded negative reports by almost 43%, the coverage of Kerry had an overall negative balance of 15%. Similarly, PBS's commentary featured 6.6% more positive than negative statements on Bush, while , on balance, comments on Kerry were 13% more negative.
Topic:
Government, Human Welfare, and Politics
Political Geography:
United States

2464. Monitoring the Presidential Debates: Real-time Content Analysis Bush and Kerry Score with Clear-Cut Proposals

Author:
Senja Post, Markus Rettich, and Roland Schatz
Publication Date:
10-2004
Content Type:
Policy Brief
Institution:
Media Tenor International
Abstract:
In tonight's TV debate, neither of the candidates managed to gain an upper hand in the overall discussion. There were no significant surprises on how each candidate views the issues that were addressed. Based on Bob Schieffer's excellent moderation, the debate was able to create a very clear image (almost 80% of the content was issue–focused) on the different approaches Kerry and Bush will use in tackling challenges in healthcare, economics, social issues and domestic security.
Topic:
Government, Human Welfare, and Politics
Political Geography:
United States

2465. Monitoring the Presidential Debates: How the debates Affected the Candidates' Image on TV News

Publication Date:
10-2004
Content Type:
Policy Brief
Institution:
Media Tenor International
Abstract:
Compared to last week's commentary, ABC increased its positive coverage of Bush, NBC was more balanced and CBS reduced the level of positive commentary on Kerry. CNN again rated both candidates positively (but Kerry much more so than Bush) while PBS broadcast a more negative evaluation of Bush and Kerry. On the whole, Kerry came across in a more positive light, but is very interesting to look at the difference between the major networks vs. cable networks and the public broadcasters. On NBC and CBS, Kerry was seen as the clear 'winner.' In the other news outlets, both candidates were rated either positively or negatively.
Topic:
Government and Politics
Political Geography:
United States

2466. Report on First 2004 Presidential Debate

Publication Date:
09-2004
Content Type:
Policy Brief
Institution:
Media Tenor International
Abstract:
And the winner is . . . Kerry needed a clear victory in the first TV debate to gain momentum. This was not apparent. The burden on proof was clearly on Kerry to attack Bush's reputation and turn the line of argument to his favor. But the incumbent was equally vigorous in pointing out his achievements – in Iraq, in his support for the troops and in the fight against terrorism. Bush successfully cornered Kerry on flip–flopping issue. Kerry's explanations of his policy standpoints and voting records ultimately proved ineffective in countering Bush's charges of inconsistency. It was Kerry's goal to present himself as a viable alternative – this could not be seen. Therefore: a draw. Which in the end helps Bush, not Kerry.
Topic:
Government and Politics
Political Geography:
United States

2467. Majority Rules and Incentives—International voting affects domestic policies

Author:
Bård Harstad
Publication Date:
03-2004
Content Type:
Working Paper
Institution:
Norwegian Institute of International Affairs
Abstract:
A “majority rule” defines the number of club-members that must approve a policy proposed to replace the status quo. Since the majority rule thus dictates the extent to which winners must compensate losers, it also determines the incentives to invest in order to become a winner of anticipated projects. If the required majority is large, the members invest too little because of a hold-up problem, if it is small, the members invest too much in order to become a member of the majority coalition. To balance these opposing forces, the majority rule should increase in the level of minority protection (or enforcement capacity) and the project's value but decrease in the ex post heterogeneity. Strategic delegation turns out to be sincere exclusively under this majority rule. Externalities can be internalized by adjusting the rule. With heterogeneity in size or initial conditions, votes should be appropriately weighted or double majorities required. The analysis provides recommendations for Europe's future constitution.
Topic:
Government, Human Rights, and Politics
Political Geography:
Europe

2468. Competition Law and Policy in the Russian Federation

Publication Date:
11-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
When the Russian Federation began its transition toward a market based economy, promoting competition and regulating anticompetitive behavior - issues never previously needing to be addressed - arose as new and unfamiliar subjects for state policymaking and law enforcement activities. In order to address these issues, the Russian Federation created a competition authority and basic law in 1991, quite early in its transition period. Support for competition was expressed in the 1993 Constitution, as well as in other fundamental legislation. As part of a larger study of regulatory reform, the OECD in 2003 undertook a detailed assessment of Russia fs decade of experience with competition law and policy. The Report concludes that despite early legislation on the issue and strong expressions of support for competition in the laws, the creation and protection of competition on domestic markets has not been a policy priority. Emphasis on rapid privatization limited the scope of pre-privatization restructuring to promote competition and the competition authority has been expected to serve as a general regulator of behavior in markets, assigned to fill legislative gaps and to enforce against a variety of undesirable practices in markets. Overly broad responsibilities and a lack of credible sanctions have significantly limited the impact of the competition laws.
Topic:
International Relations, Economics, and Government
Political Geography:
Russia

2469. Public Sector Modernisation: Governing for Performance

Publication Date:
11-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
Performance – improving it and measuring it – has pre-occupied governments for at least half a century. Over the past two decades, public sector performance has taken on special urgency as OECD countries have faced recessions, mounting demands for more and better public services, and, in some countries, citizens increasingly unwilling to pay higher taxes. Accompanying these pressures have been demands for more public accountability.
Topic:
International Relations, Development, Economics, and Government

2470. OECD Territorial Reviews: Mexico City

Publication Date:
10-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
Mexico City's spectacular growth into one of the world's largest metropolitan regions is giving way to new development dynamics. The Metropolitan Area of Mexico City (MAMC), with a population of approximately 18.4 million people, is undergoing two main transitions: first, from high population growth to relative demographic stability and spatial redistribution, and second, from a declining manufacturing economy focused on national markets to one based on services competing internationally.
Topic:
Economics, Government, and International Trade and Finance
Political Geography:
North America and Mexico

2471. Employment Protection: Costs and Benefits of Greater Job Security

Publication Date:
09-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
Deregulating labour markets – for example making it easier for firms to hire and fire employees – is at the heart of the employment debate in many OECD countries. Laws on firing or layoffs and other employment protection regulations are thought by many to be a key factor in generating labour market "rigidity", as well as one reason for the large differences in labour market performance among OECD countries, notably between the United States and some of the larger European countries.
Topic:
Civil Society, Development, Economics, and Government
Political Geography:
Europe

2472. Economic Survey of Portugal, 2004

Publication Date:
09-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
Convergence of the Portuguese economy toward the more advanced OECD economies seems to have halted in recent years, leaving a significant gap in per capita incomes. The proximate cause is low labour productivity, as employment rates across the board are substantially higher than the EU average. Nor is there a shortage of capital goods in aggregate. But capital equipment in the business sector is not always efficiently used or allocated, and new technologies are not readily adopted. Furthermore, the Portuguese labour force – even its younger members – have had less formal education than workers in other EU countries, including among the new entrants from Central and Eastern Europe, and workers in Portugal also have less access to training than in many other countries. Traditional Portuguese low value-added highly labourintensive products now face increasing competition from developing countries and from the new EU entrants.
Topic:
Development, Economics, and Government
Political Geography:
Europe and Eastern Europe

2473. Competition Law and Policy in Japan

Publication Date:
09-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
Japan's Fair Trade Commission, created in 1947, is one of the oldest and largest competition law enforcement agencies in the world. Before the 1990s, though, competition had usually played a subordinate role in Japan's regulatory policies, while aspects of Japan's traditional approach to regulation had contradicted principles of modern competition policy. Over the past decade of reform in Japan, this attitude toward competition policy has been changing.
Topic:
Development, Government, and International Law
Political Geography:
Japan and Israel

2474. Which Policies Can Reduce the Cost of Capital in Southern Africa?

Author:
Martin Grandes and Nicolas Pinaud
Publication Date:
09-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
Lowering interest rates and, thus, the cost of borrowing in the rand zone (Lesotho, Namibia, Swaziland and South Africa) is a priority to promote investment and economic growth. Local-currency interest rates in these countries are driven by those on rand-denominated transactions. Reducing the level and volatility of the rand premium would help reduce financing costs in the region. Policies should promote: enhancing financial-market liquidity; easier access to South African financial markets for African entities; domestic saving capacity; and the improvement of international perception of the rand. Johannesburg could become a financial "hub" for the region, channelling cheap resources to its neighbours.
Topic:
Economics, Government, and International Trade and Finance
Political Geography:
Africa, South Africa, Swaziland, and Namibia

2475. Public Sector Modernisation: Changing Organisational Structures

Publication Date:
09-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
Governments have always changed their structures to respond to new priorities in a changing society, or to improve the management of existing ones. They have also taken advantage of new capacities and better governance in society in general to put some of the functions previously performed in the core public service at arm's length, or even to privatise or contract them out.
Topic:
International Relations, Civil Society, Economics, and Government

2476. Internationalisation of Higher Education

Publication Date:
08-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
Higher education has become increasingly international in the past decade as more and more students choose to study abroad, enrol in foreign educational programmes and institutions in their home country, or simply use the Internet to take courses at colleges or universities in other countries. This growth is the result of several different, but not mutually exclusive, driving forces: a desire to promote mutual understanding; the migration of skilled workers in a globalised economy; the desire of the institutions to generate additional revenues; or the need to build a more educated workforce in the home countries, generally as emerging economies.
Topic:
International Relations, Civil Society, Education, and Government

2477. The OECD Principles of Corporate Governance

Publication Date:
08-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
The integrity of businesses and markets is central to the vitality and stability of our economies. So good corporate governance – the rules and practices that govern the relationship between the managers and shareholders of corporations, as well as stakeholders like employees and creditors – contributes to growth and financial stability by underpinning market confidence, financial market integrity and economic efficiency. Recent corporate scandals have focussed the minds of governments, regulators, companies, investors and the general public on weaknesses in corporate governance systems and the need to address this issue.
Topic:
Development, Economics, Government, and Political Economy

2478. Public Sector Modernisation: Modernising Public Employment

Publication Date:
07-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
When it comes to the nuts and bolts of government, OECD countries have one thing in common: a core public service. In other words, a centrally controlled bureaucracy made up of people working in ministries, departments and government agencies to carry out the business of government. Civil service structures have evolved around the idea that public employment is different from other types of work and therefore requires a special employment system and structure.
Topic:
Civil Society, Development, Economics, and Government

2479. Economic survey of Korea, 2004

Publication Date:
06-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
Korea has been one of the fastest growing economies in the OECD area over the past five years, with an annual growth rate of about 6 per cent. Such rapid growth, which has lifted per capita income to two-thirds of the OECD average, reflects Korea's underlying dynamism and its progress in implementing a wide-ranging reform programme in the wake of the 1997 crisis. However, the recession in 2003 – which was due in part to structural problems in the labour market and in the corporate and financial sectors – indicates that the reform agenda is unfinished. Sustaining rapid growth over the medium term as the contribution from inputs of labour and capital slows requires further progress in structural reform, particularly in the labour market and in the corporate and financial sectors, accompanied by appropriate macroeconomic policies.
Topic:
Development, Economics, and Government
Political Geography:
Asia and Korea

2480. Competition Law and Policy in Mexico

Publication Date:
06-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
Mexico's competition policy was introduced as part of a decade-long reform initiative, begun in the mid-1980s, to end central government control and protection of domestic economic activity and to develop instead a market-based economy. A key element in the government's economic reform was the adoption, in 1993, of the Federal Law of Economic Competition (LFCE), and creation of the Federal Competition Commission (CFC) to enforce it.
Topic:
Development, Economics, and Government
Political Geography:
North America and Mexico

2481. Whose Oceania? Contending Visions of Community in Pacific Region-building

Author:
Greg Fry
Publication Date:
10-2004
Content Type:
Working Paper
Institution:
Australian National University Department of International Relations
Abstract:
In the past year the 'war against terror' and perceptions of state failure within the post-colonial Pacific have sparked an Australian-led initiative to deepen and widen regional integration in Oceania. This paper argues that behind the seeming unanimity of the 2004 Auckland Declaration and agreement by Pacific Islands Forum leaders on a 'Pacific vision' and a 'Pacific plan' are several contending visions of regional community, and of community-building. The political and moral legitimacy of each vision depends significantly on how these visions answer the question of who is Oceania for, and who has the right to speak for it? The seemingly dominant vision (that of the Australian government) is problematic in this regard. Past practice of Pacific region-building suggests that it may therefore not receive the legitimacy it requires for sustainability. This therefore is in danger of producing an unintended consequence: the replication at a regional level of the legitimacy problem associated with the so-called failing state.
Topic:
International Relations, Development, Government, and Politics
Political Geography:
Australia/Pacific

2482. Rentier Shifts, Legitimacy, and the Social Sources of International Financial Hegemonie

Author:
Leonard Seabrooke
Publication Date:
09-2004
Content Type:
Working Paper
Institution:
Australian National University Department of International Relations
Abstract:
This paper provides an analysis of the domestic legitimation of 'financial reform nexuses' during two periods of English and US international financial hegemony. Following Max Weber's work on the state and finance, I argue that positive state intervention is required to legitimise a 'financial reform nexus' (the interrelation of credit, property, and tax politics) for people on below median income. I hypothesise that sufficient legitimation of a financial reform nexus provides the means to generate and sustain international financial hegemony, including the capacity to tailor the structure of the international financial order to suit the hegemon's interests. Conversely, if the hegemon is unable to sustain the legitimation of its domestic financial reform nexus-a choice that correlates with negative state intervention that supports a 'rentier shift'-its capacity to maintain international financial hegemony wanes. I draw from examples of the legitimation of financial reform nexuses in England (1900-15) and the US (1985-2000), linking domestic legitimation to consequent changes in the structure of the international financial order. Through this analysis of the social sources of English and US international financial hegemonies, I differentiate the English 'international rentier economy' from the US 'international creditor economy'. Finally, I stress the importance of positive state intervention for the legitimation of the US financial reform nexus.
Topic:
Development, Economics, Government, and International Trade and Finance
Political Geography:
England

2483. Homes for an Inclusive City: A Comprehensive Housing Strategy for Washington, D. C.

Publication Date:
06-2004
Content Type:
Working Paper
Institution:
The Brookings Institution
Abstract:
The growth and movement of jobs and population in the Washington, DC metropolitan area and the persistence of the booming housing market in the city have created both a crisis of affordability and an opportunity to strengthen and rebuild portions of the District of Columbia.
Topic:
Civil Society, Economics, Government, and Human Welfare
Political Geography:
Washington and Colombia

2484. The Challenge of Achieving High Work Participation Rates in Welfare Programs

Author:
LaDonna Pavetti
Publication Date:
10-2004
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
Efforts to reform the welfare system over the last two decades have largely focused on reducing welfare dependency by getting welfare recipients to work. By the time the Temporary Assistance for Needy Families (TANF) program was created by the welfare reform law of 1996, there was widespread agreement in the states that welfare recipients should be required to look for work and to do so shortly after (or even before) they began receiving cash assistance. Once TANF was implemented, work became a central focus of local welfare offices. However, as shown by the recent debates on the reauthorization, consensus on work requirements remains elusive.
Topic:
Economics, Government, Human Welfare, and Poverty

2485. Offshoring, Import Competition, and the Jobless Recovery

Author:
Charles L. Schultze
Publication Date:
08-2004
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
Until the end of 2003, the United States had been experiencing a “jobless” recovery, with employment stagnating at levels well below those in 2000. A widespread perception has arisen that a major culprit behind the dearth of jobs was the growing practice of U.S. firms to relocate part of their domestic operations to lower-wage countries abroad. “Offshoring” presumably caused a reduction in U.S. output and a corresponding loss of jobs.
Topic:
Economics, Government, and Human Welfare
Political Geography:
United States

2486. Improving the Saver's Credit

Author:
William G. Gale and Peter R. Orszag
Publication Date:
07-2004
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
For decades, the U.S. private pension system has provided preferential tax treatment to employer-provided pensions, 401(k) plans, and individual retirement accounts relative to other forms of saving. The effectiveness of this system of subsidies is controversial. Despite the accumulation of vast amounts of wealth in pension accounts, concerns persist about the ability of the pension system to raise private and national saving, and in particular to improve saving outcomes among those households most in danger of inadequately preparing for retirement.
Topic:
Economics, Government, and Human Welfare
Political Geography:
United States

2487. Bush and Kerry: Questions About Governing Styles

Author:
Charles O. Jones
Publication Date:
06-2004
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
Political campaigns are about governing. Candidates offer themselves to the public and endure a grueling process of nomination and election. Campaigns generate a lot of headlines, but it's what comes afterward that counts. Voters usually are left guessing about how each of the candidates would govern. In 2000, the Brookings Institution, the American Enterprise Institute, and the Hoover Institution jointly conducted several forums with journalists and the presidential candidates' close associates that explored how each of the candidates would govern based on their backgrounds, experience, and leadership styles.
Topic:
International Relations, Foreign Policy, Government, and Political Economy
Political Geography:
America

2488. Encouraging Job Advancement Among Low-Wage Workers: A New Approach

Author:
Harry J. Holzer
Publication Date:
05-2004
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
While their employment rates have risen considerably, most former welfare recipients continue to earn very low wages. Similarly, the earnings of less-educated U.S. workers more broadly have also stagnated or fallen in recent years. Using a new dataset from the Census Bureau, some recent research suggests that low earners' advancement prospects are closely tied to the characteristics of the employers for whom they work. Employment in certain high-wage sectors and especially at firms that pay wage premiums and offer career ladders is strongly correlated with earnings gains over time for initially low earners. Job mobility often results in higher earnings gains than does staying in the same job. "Work first" approaches—such as immediate job placement for those on welfare—produce modest gains over time, while early work at a higher-wage employer or with a temp agency generates larger gains. Policymakers should therefore encourage better job placements for low earners as well as targeted training that is integrated with these placements. Policies to support the creation of more higher-wage jobs for the unskilled should be considered as well. Private labor market intermediaries can play important roles in both processes.
Topic:
International Relations, Foreign Policy, Government, and Political Economy
Political Geography:
United States

2489. Trade Agreements and Labor Standards

Author:
Theodore H. Moran
Publication Date:
05-2004
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
The National Academy of Sciences report, Monitoring International Labor Standards: Techniques and Sources of Information, shows that assessing compliance can be done thoroughly and transparently, allowing government officials, multilateral agencies, "socially responsible" investors, and nongovernmental organizations to identify where they differ on crucial aspects of the assessment process.
Topic:
International Relations, Foreign Policy, Government, and Political Economy

2490. "Offshoring" Service Jobs: Bane or Boon and What to Do?

Author:
Lael Brainard and Robert E. Litan
Publication Date:
04-2004
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
Americans worry the economy is permanently shedding jobs and compressing wages, not only in manufacturing but also now in services once assumed immune to foreign competition. The digitization of information and expanded bandwidth abroad are enabling companies to outsource to low-wage countries services ranging from routine call center work to higher-value software programming, medical diagnosis, and research and analytical activities.
Topic:
International Relations, Foreign Policy, Government, and Political Economy
Political Geography:
America

2491. Global Economic Governance at a Crossroads: Replacing the G-7 with the G-20

Author:
Johannes F. Linn and Colin I. Jr. Bradford
Publication Date:
04-2004
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
Finance ministers representing the Group of 7 (G-7) industrialized countries met in Boca Raton, Florida, in early February amid concerns about the weakening of the U.S. dollar. One factor in the dollar's decline is the U.S. trade deficit, which is partly due to the undervalued Chinese yuan. The involvement of China, which is not a G-7 member, illustrates both the glaring gap in global governance and the increasing economic and policy interdependence between industrial countries and major emerging market economies (EMEs). As one observer, referring to the Boca Raton meeting, put it, "China is the 800-pound gorilla and it isn't even part of the negotiations."
Topic:
International Relations, Foreign Policy, Government, and Political Economy
Political Geography:
United States and China

2492. How to Balance the Budget

Author:
Isabel V. Sawhi and Alice M. Rivlin
Publication Date:
03-2004
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
The federal government is spending about $500 billion a year more than it is raising in taxes. If nothing is done, that gap will widen to around $700 billion annually by 2014 and accelerate rapidly thereafter, as baby boomers begin to retire. Persistent deficits of this magnitude are likely to lower standards of living, make us dangerously dependent on the rest of the world, and pass on large fiscal burdens to future generations. Balancing the budget, while politically difficult, must be a priority. In an effort to stimulate debate over a compromise that would appeal to different groups, we present three ways to achieve balance over the next ten years. One option emphasizes spending cuts and leads to a smaller government. A second relies on tax increases and leads to bigger government. The third maintains government's current size, but makes it more effective, and contains a mix of spending reductions and tax increases, sufficient to achieve balance in ten years while preserving room for some high-priority new initiatives.
Topic:
International Relations, Foreign Policy, Government, and Political Economy

2493. The Insurance Industry in America

Author:
Robert E. Litan and Richard J. Herring
Publication Date:
03-2004
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
Economists and insurance experts have studied the industry for many years and have developed a series of theoretical concepts to explain how insurance markets function. The prevailing view of the demand for insurance was summed up by one conference participant who noted that an economically rational consumer would understand that apart from certain tax benefits, when you buy insurance, you're making a bet with an insurance company, which the insurance comp any wins on average because it must cover administrative costs and earn a competitive return for its shareholders. From this perspective it makes sense to insure only against potential losses so large as to affect your standard of living. But that is not always how consumers behave.
Topic:
International Relations, Foreign Policy, Government, and Political Economy
Political Geography:
America

2494. Waive of the Future? Federalism and the Next Phase of Welfare Reform

Author:
Isabel V. Sawhill, Pietro S. Nivola, and Jennifer L. Noyes
Publication Date:
03-2004
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
Determining the appropriate balance of power between the national government and the states is the "cardinal question of our constitutional system," wrote Woodrow Wilson in 1908. The question, he said, would resurface at "every successive stage of our political and economic development." A current manifestation of the time-honored debate focuses on whether to grant state governments additional discretion in managing and integrating a wide range of federally supported services that, in principle, can help the nation's poor earn a living rather than depend on public assistance.
Topic:
International Relations, Foreign Policy, Government, and Political Economy

2495. The Uncertain Future of the Telecommunications Industry

Author:
Robert E. Litan and Roger G. Noll
Publication Date:
01-2004
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
The U.S. telecommunications industry is riding a roller coaster. For most of the 1990s, the industry's future looked promising. The growth of Internet use, the promise of a broadband network, and a less restrictive regulatory environment that was expected following passage of the 1996 Telecommunications Act led industry experts to forecast rapidly growing demand for core network services along with high-margin business opportunities in an expanding array of new information services. The industry backed these expectations with massive investments to expand the capacity of both wireless and wire line networks as well as to facilitate the expected boom in high-speed data transmission.
Topic:
International Relations, Foreign Policy, Government, and Political Economy
Political Geography:
United States

2496. Traffic: Why It's Getting Worse, What Government Can Do

Author:
Anthony Downs
Publication Date:
01-2004
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
Rising traffic congestion is an inescapable condition in large and growing metropolitan areas across the world, from Los Angeles to Tokyo, from Cairo to Sao Paolo. Peak-hour traffic congestion is an inherent result of the way modern societies operate. It stems from the widespread desires of people to pursue certain goals that inevitably overload existing roads and transit systems every day. But everyone hates traffic congestion, and it keeps getting worse, in spite of attempted remedies. Commuters are often frustrated by policymakers' inability to do anything about the problem, which poses a significant public policy challenge. Although governments may never be able to eliminate road congestion, there are several ways cities and states can move to curb it.
Topic:
International Relations, Foreign Policy, Government, and Political Economy
Political Geography:
Tokyo and Los Angeles

2497. Democracy and Constituencies in the Arab World

Author:
Marina S. Ottaway
Publication Date:
07-2004
Content Type:
Policy Brief
Institution:
Carnegie Endowment for International Peace
Abstract:
THE CENTRAL DILEMMA OF DEMOCRATIC reform in Arab countries can be summed up fairly simply. Presidents and kings remain too powerful, untrammeled by the limits imposed by effective parliaments and independent judiciaries. Countervailing institutions remain weak, if they exist at all, not only because constitutions and laws deliberately keep them that way, but also because they are not backed by organized citizens demanding political rights, participation, and government accountability. This does not mean that there is no desire for democracy on the part of Arab publics. Recent opinion surveys suggest that in the abstract there is strong support for more open political systems, increased protection of human rights, and broader personal liberties. However, the existence of a general, diffuse sense that democracy is a good thing is quite different from the existence of organized constituencies that provide a counterweight to the authoritarianism of incumbent governments. The demand, or better the desire, for democracy is present in the Arab world today; what is lacking is a supply of broad-based political organizations pushing for democracy—political parties, social movements, labor unions, large civic organizations. Unless such constituencies develop, the future of democracy remains extremely uncertain. In many countries, governments anxious to burnish their modern image will continue to introduce modest reforms. Until the governments face stronger pressure from organized citizens, however, they will not take steps to truly curb the power of the executive by strengthening checks and balances and allowing unfettered political participation.
Topic:
Government and Politics
Political Geography:
Middle East and Arabia

2498. CATO Institute: Rethinking Electricity Restructuring

Author:
Peter Van Doren and Jerry Taylor
Publication Date:
11-2004
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
Electric utility restructuring was initiated in the 1990s to remedy the problem of relatively high electricity costs in the Northeast and California. While politicians hoped that reform would allow low-cost electricity to flow to highcost states and that competition would reduce prices, economists wanted reform to eliminate regulatory incentives to overbuild generating capacity and spur the introduction of real-time prices for electricity.
Topic:
Economics, Energy Policy, Government, and Politics
Political Geography:
California

2499. CATO Institute: Implementing Welfare Reform: A State Report Card

Author:
Jenifer Zeigler
Publication Date:
10-2004
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
In 1996 the Personal Responsibility and Work Opportunity Reconciliation Act was signed into law, and the nation waited to see if welfare reform would truly “end welfare as we know it.” Block grant funding and administrative devolution gave the states a chance to move beyond pilot programs and prove that they could transition people off welfare more efficiently and effectively than the federal government. As a result, caseloads have dropped by more than half.
Topic:
Economics, Government, and Human Welfare
Political Geography:
United States

2500. CATO Institute: Fannie May, Freddie Mac, and Housing Finance: Why True Privatization is Good Public Policy

Author:
Lawrence J. White
Publication Date:
10-2004
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
The Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) are the two dominant entities in the secondary residential mortgage markets of the United States. They are an important and prominent part of a larger mosaic of extensive efforts by governments at all levels to encourage the production and consumption of housing.
Topic:
Economics, Government, and Industrial Policy
Political Geography:
United States