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Bank Crises and Democratic Accountability in Comparative Perspective
Rosas's compelling theory and wide-ranging empirical evidence yield a persuasive but surprising conclusion in light of the financial meltdown of 2008–9. In the event of banking crises, not only do elected governments treat taxpayers better and force bankers and their creditors to pay more for their mistakes, but bankers in democracies are more prudent as a consequence . . . essential reading for all interested in the political economy of crisis and in the future of banking regulation. ---Philip Keefer, Lead Economist, Development Research Group, The World Bank "Rosas convincingly demonstrates how democratic accountability affects the incidence and resolution of banking crises. Combining formal models, case studies, and cutting-edge quantitative methods, Rosas's book represents a model for political economy research." ---William Bernhard, Professor, Department of Political Science, University of Illinois "When the financial crises of the 1990s hit Asia, Russia, and Latin America, the U.S. scolded them about the moral hazard problems of bailing out the banks. Now, the shoe is on the other foot, with the U.S. struggling to manage an imploding financial sector. Rosas's study of bank bailouts could not be more timely, providing us with both a framework for thinking about the issue and some sobering history of how things go both right and badly wrong. Democratic accountability proves the crucial factor in making sure bailouts are fair, a point that is as relevant for U.S. policy as for an understanding of the emerging markets." ---Stephan Haggard, Krause Professor, Graduate School of International Relations and Pacific Studies, University of California, San Diego Banking crises threaten the stability and growth of economies around the world. In response, politicians restore banks to solvency by redistributing losses from bank shareholders and depositors to taxpayers, and the burden the citizenry must bear varies from case to case. Whereas some governments stay close to the prescriptions espoused by Sir Walter Bagehot in the nineteenth century that limit the costs shouldered by taxpayers, others engage in generous bank bailouts at great cost to society. What factors determine a government's response? In this comparative analysis of late-twentieth-century banking crises, Guillermo Rosas identifies political regime type as the determining factor. During a crisis, powerful financial players demand protection of their assets. Rosas maintains that in authoritarian regimes, government officials have little to shield them from such demands and little incentive for rebuffing them, while in democratic regimes, elected officials must weigh these demands against the interests of the voters---that is, the taxpayers. As a result, compared with authoritarian regimes, democratic regimes show a lower propensity toward dramatic, costly bailouts. Guillermo Rosas is Assistant Professor in the Department of Political Science and Fellow at the Center in Political Economy at Washington University in St. Louis.
The Great Power Politics of Financial Regionalism
Since the Asian Financial Crisis of 1997-98, East Asian economies have sought to make themselves less vulnerable to global financial markets by transforming the regional financial architecture. With Japan as a leading actor, they have introduced initiatives to provide emergency financing to crisis economies, support the development of local-currency bond markets, and better coordinate currency policies.
In Currency and Contest in East Asia, William W. Grimes builds on years of primary research and scores of interviews with participants and policy analysts to provide the most accurate, complete, and detailed description available of attempts to build financial cooperation among East Asian countries. Adapting realist political economy theory to the realities of contemporary global finance, Grimes places regional issues firmly in the wider context of great-power rivalries. He argues that financial regionalism can best be understood as one arena for competition among Japan, the United States, and China.
Despite their mutual desire for regional prosperity and economic stability, these three powers have conflicting political interests. Their struggles for regional leadership raise questions about the long-term feasibility of regional financial cooperation, the possible effects of Sino-Japanese rivalry on regional financial stability, and the potential for East Asian financial regionalism to undermine the long-established-albeit waning-global and regional dominance of the United States and the dollar.
Today, a third of American children are born outside of marriage, up from one child in twenty in the 1950s, and rates are even higher among low-income Americans. Many herald this trend as one of the most troubling of our time. But the decline in marriage does not necessarily signal the demise of the two parent family—over 80 percent of unmarried couples are still romantically involved when their child is born and nearly half are living together. Most claim they plan to marry eventually. Yet half have broken up by their child's third birthday. What keeps some couples together and what tears others apart? After a breakup, how do fathers so often disappear from their children's lives? An intimate portrait of the challenges of partnering and parenting in these families, Unmarried Couples with Children presents a variety of unique findings. Most of the pregnancies were not explicitly planned, but some couples feel having a child is the natural course of a serious relationship. Many of the parents are living with their child plus the mother’s child from a previous relationship. When the father also has children from a previous relationship, his visits to see them at their mother’s house often cause his current partner to be jealous. Breakups are more often driven by sexual infidelity or conflict than economic problems. After couples break up, many fathers complain they are shut out, especially when the mother has a new partner. For their part, mothers claim to limit dads’ access to their children because of their involvement with crime, drugs, or other dangers. For couples living together with their child several years after the birth, marriage remains an aspiration, but something couples are resolutely unwilling to enter without the financial stability they see as a sine qua non of marriage. They also hold marriage to a high relational standard, and not enough emotional attention from their partners is women’s number one complaint. Unmarried Couples with Children is a landmark study of the family lives of nearly fifty American children born outside of a marital union at the dawn of the twenty-first century. Based on personal narratives gathered from both mothers and fathers over the first four years of their children’s lives, and told partly in the couples' own words, the story begins before the child is conceived, takes the reader through the tumultuous months of pregnancy to the moment of birth, and on through the child's fourth birthday. It captures in rich detail the complex relationship dynamics and powerful social forces that derail the plans of so many unmarried parents. The volume injects some much-needed reality into the national discussion about family values, and reveals that the issues are more complex than our political discourse suggests.
Direct Elections for Local Leaders (Pilkada)
Since the fall of long-reigning President Soeharto, in 1998, Indonesia has been in an era of transition, away from an authoritarian regime, and on a “quest for democracy”. This quest started with decentralization laws implemented in 2001, which gave greater autonomy to the regions, and continued with the direct elections for the national and local legislatures and the President in 2004. The latest development in this democratization process is the implementation of a system for the direct election of regional leaders, which began in 2005; the first round of elections across the nation for all governors, mayors and district heads was completed in 2008. Authors of the chapters in this volume, the result of a workshop in Singapore in 2006, present data from across the archipelago for these first direct elections for local leaders and give their assessment as to how far these elections have contributed to a “deepening democracy”.
Central Bank Autonomy and the Transition from Authoritarian Rule
Many of today's new democracies are constrained by institutional forms designed by previous authoritarian rulers. In this timely and provocative study, Delia M. Boylan traces the emergence of these vestigial governance structures to strategic behavior by outgoing elites seeking to protect their interests from the vicissitudes of democratic rule. One important outgrowth of this political insulation strategy--and the empirical centerpiece of Boylan's analysis--is the existence of new, highly independent central banks in countries throughout the developing world. This represents a striking transformation, for not only does central bank autonomy remove a key aspect of economic decision making from democratic control; in practice it has also kept many of the would-be expansionist governments that hold power today from overturning the neoliberal policies favored by authoritarian predecessors. To illustrate these points, Defusing Democracy takes a fresh look at two transitional polities in Latin America--Chile and Mexico--where variation in the proximity of the democratic "threat" correspondingly yielded different levels of central bank autonomy. Boylan concludes by extending her analysis to institutional contexts beyond Latin America and to insulation strategies other than central bank autonomy. Defusing Democracy will be of interest to anyone--political scientists, economists, and policymakers alike--concerned about the genesis and consolidation of democracy around the globe. Delia M. Boylan is Assistant Professor, Harris Graduate School of Public Policy Studies, University of Chicago.
Political Trust in Argentina and Mexico
Some theorists claim that democracy cannot work without trust. According to this argument, democracy fails unless citizens trust that their governing institutions are serving their best interests. Similarly, some assert that democracy works best when people trust one another and have confidence that politicians will look after citizen interests. Questioning such claims, Democracy and the Culture of Skepticism, by Matthew Cleary and Susan Stokes, suggests that skepticism, not trust, is the hallmark of political culture in well-functioning democracies. Drawing on extensive research in two developing democracies, Argentina and Mexico, Democracy and the Culture of Skepticism shows that in regions of each country with healthy democracies, people do not trust one another more than those living in regions where democracy functions less well, nor do they display more personal trust in governments or politicians. Instead, the defining features of the healthiest democracies are skepticism of government and a belief that politicians act in their constituents' best interest only when it is personally advantageous for them to do so. In contrast to scholars who lament what they see as a breakdown in civic life, Cleary and Stokes find that people residing in healthy democracies do not participate more in civic organizations than others, but in fact, tend to retreat from civic life in favor of private pursuits. The authors conclude that governments are most efficient and responsive when they know that institutions such as the press or an independent judiciary will hold them accountable for their actions. The question of how much citizens should trust politicians and governments has consumed political theorists since America's founding. In Democracy and the Culture of Skepticism, Matthew Cleary and Susan Stokes test the relationship between trust and the quality of governance, showing that it is not trust, but vigilance and skepticism that provide the foundation for well-functioning democracies.
43 études de cas primés
Quels sont réellement les ressorts des campagnes de communication? Comment les institutions et les entreprises traitent-elles leur image? De la communication de crise au lobbying, en passant par la communication environnementale, les campagnes de souscription, les commandites ou encore l'organisation d'événements majeurs à des fins de relations publiques, l'auteure présente 43 campagnes de communication primées. Elle décortique ensuite les pratiques, étudie les intentions, analyse les tendances et clarifie les types de relations qui existent entre les organisations et leurs publics.
42 études de cas primés
Ce deuxième tome du livre Des campagnes de communication réussies arrive ainsi à point nommé. Passant au crible des théories des relations publiques des campagnes canadiennes de 2003 à 2007, il veut inspirer les praticiens dans la résolution de problèmes et aider les étudiants à concrétiser des notions théoriques. Chaque campagne est décrite, puis analysée en fonction des publics visés, du type de relation, des choix de réseaux, du modèle de communication, des contextes modifiés par les campagnes et de l’utilisation du storytelling. De la gestion des enjeux à la communication de crise, en passant par les campagnes de santé publique, l’organisation d’événements et les campagnes de lancement de produits, l’ouvrage pose un regard à la fois pragmatique et critique sur la pratique récente de la communication organisationnelle.
Les technologies de l'information et des communications se développent à un rythme exponentiel depuis quelques années. Ces progrès exercent un effet de plus en plus significatif sur la nature même du travail. Désormais, travailler signifie récolter, analyser, exploiter ou enrichir des connaissances et les réinjecter dans un réseau restreint ou planétaire. Les exposés que renferme ce livre tentent de délimiter cette problématique complexe à partir de points de vue variés. Le livre évoque des changements et des bouleversements, perceptibles ou potentiels, dans nos façons de percevoir les choses, de les analyser et d'agir. L'exposé du philosophe français Michel Serres revêt la forme d'une analyse attentive de l'évolution de ce qu'il appelle les «supports» de la pensée. Cette conférence est présentée intégralement sur un cédérom joint à l'ouvrage.
Racial and Gender Segregation in Private Sector Employment Since the Civil Rights Act
Enacted nearly 50 years ago, the Civil Rights Act codified a new vision for American society by formally ending segregation and banning race and gender discrimination in the workplace. But how much change did the legislation actually produce? As employers responded to the law, did new and more subtle forms of inequality emerge in the workplace? In an insightful analysis that combines history with a rigorous empirical analysis of newly available data, Equal Opportunity at Work? offers the most comprehensive account to date of what has happened to equal opportunity in America—and what more needs to be done in order to achieve a truly integrated workforce. Weaving strands of history, cognitive psychology, and demography, Equal Opportunity at Work? provides a compelling exploration of the ways legislation can affect employer behavior and produce change. Authors Kevin Stainback and Donald Tomaskovic-Devey use a remarkable historical record—data from more than six million workplaces collected by the U.S. Equal Employment Opportunity Commission (EEOC) since 1966—to present a sobering portrait of race and gender in the American workplace. Progress has been decidedly uneven: black men, black women, and white women have prospered in firms that rely on educational credentials when hiring, though white women have advanced more quickly. And white men have hardly fallen behind—they now hold more managerial positions than they did in 1964. The authors argue that the Civil Rights Act’s equal opportunity clauses have been most effective when accompanied by social movements demanding changes. EEOC data show that African-American men made rapid gains in the 1960s, at the height of the civil rights movement. Similarly, white women gained access to more professional and managerial jobs in the 1970s as regulators and policymakers began to enact and enforce gender discrimination laws. By the 1980s, however, racial desegregation had stalled, reflecting the dimmed status of the civil rights agenda. Race and gender employment segregation remain high today, and alarmingly, many firms, particularly in high-wage industries, seem to be moving in the wrong direction and have shown signs of resegregating since the 1980s. To counter this worrying trend, the authors propose new methods to increase diversity by changing industry norms, holding human resources managers to account, and exerting renewed government pressure on large corporations to make equal employment opportunity a national priority. At a time of high unemployment and rising inequality, Equal Opportunity at Work? provides an incisive reexamination of America’s tortured pursuit of equal employment opportunity. This important new book will be an indispensable guide for those seeking to understand where America stands in fulfilling its promise of a workplace free from discrimination.