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3301. Baltic History and Soviet Empire: Recovering the Past in Soviet and Russian Historical Discourse

Author:
Thomas Sherlock
Publication Date:
08-2002
Content Type:
Working Paper
Institution:
Department of Social Sciences at West Point, United States Military Academy
Abstract:
This paper is a modest effort to sketch the transformation of public memory in conditions of political transition. Specifically, it examines the recovery and interpretation of the Baltic past in Soviet and post-Soviet discourse. The paper is divided into two parts. The first part examines the desacralization of the central myths that legitimated the Soviet empire and its rule over the Baltic nationalities. The debate on Baltic history during perestroika was part of a larger - and increasingly destructive -- examination of Soviet history that shocked society with a flood of negative revelations about the past, forcing political and academic authorities to cancel secondary school exams and discard existing textbooks as virtually useless. This struggle over how to interpret the Soviet past eventually weakened the normative supports of the Soviet state, contributing to its collapse in 1991.
Topic:
Cold War and Diplomacy
Political Geography:
Russia, Europe, Asia, and Soviet Union

3302. China's Rise and the U.S. Army: Leaning Forward

Author:
Russell D. Howard and Albert Willner
Publication Date:
08-2002
Content Type:
Working Paper
Institution:
Department of Social Sciences at West Point, United States Military Academy
Abstract:
The United States led war on terrorism has already had a major impact on developing state relationships in Asia. The coalition of convenience that emerged in the aftermath of the September 2001 attacks on the World Trade Center and the Pentagon has engendered a change in strategic thinking, perceptions, and influence. A significant shift in any of these three areas could have dramatic implications. For the United States, what is required is not only a reassessment of the new realities but also a strategy to take advantage of new opportunities and cope with potential threats. Perhaps nowhere is this need more apparent, or possible responses more fraught with risk, than in determining the impact of such strategic shifts on the U.S.-China relationship, particularly in the security realm.
Topic:
Security and Defense Policy
Political Geography:
United States, China, and Asia

3303. Democratic America in Northeast Asia: U.S. Strategy, Theater Missile Defense, and Allied Defense Relationships

Author:
Sonya L. Finley
Publication Date:
08-2002
Content Type:
Working Paper
Institution:
Department of Social Sciences at West Point, United States Military Academy
Abstract:
With the proliferation of ballistic and cruise missiles and weapons of mass destruction (WMD), American political leaders have embarked on a long-term plan for deploying Theater Missile Defense (TMD) as a means to protect the United States, US forces abroad, and allies. Effective on 13 June 2002, the United States is no longer party to the 1972 ABM Treaty and missile defense is a priority with "prominence in policy, funding, and organization." TMD essentially is a family of military weapon systems whose purpose is to intercept hostile missiles that have been launched, whether intentionally or unintentionally. However, the question remains whether Theater Missile Defense is, and will be, an integrated and effective tool in achieving overall US national security goals in Northeast Asia, namely enhancing regional security and reducing the threat of weapons of mass destruction.
Topic:
Security and Defense Policy
Political Geography:
United States, China, America, and Asia

3304. International Bank Lending. Water Flowing Uphill?

Author:
John Hawkins
Publication Date:
04-2002
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
International bank lending is a major component of capital flows between advanced and emerging economies. However, in recent years these flows have been going the wrong way, like water flowing uphill. Even four years after the Asian crisis, there is a net flow of funds from emerging economies to banks in advanced economies. This paper looks at this phenomenon, starting by setting out the relevant data, and then looking at factors influencing these flows. These include both cyclical influences (both 'push' and 'pull') and structural changes within the banking industry. There is some evidence that international lenders are now discriminating more between the various emerging economies.
Topic:
Economics, Emerging Markets, and International Trade and Finance
Political Geography:
Asia

3305. One Third of the World's Growth and Inequality

Author:
Danny Quah
Publication Date:
03-2002
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
This paper studies growth and inequality in China and India—two economies that account for a third of the world's population. By modelling growth and inequality as components in a joint stochastic process, the paper calibrates the impact each has on different welfare indicators and on the personal income distribution across the joint population of the two countries. For personal income inequalities in a China-India universe, the forces assuming first-order importance are macroeconomic: Growing average incomes dominate all else. The relation between aggregate economic growth and within-country in- equality is insignificant for inequality dynamics.
Topic:
Development and Economics
Political Geography:
China, South Asia, India, and Asia

3306. How Optimal are the Extremes? Latin American Exchange Rate Policies During the Asian Crisis

Author:
Ricardo Ffrench-Davis and Guillermo Larraín
Publication Date:
01-2002
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
During the Asian crisis, intermediate exchange rate regimes vanished. It has been argued that those regimes were no longer useful and only the extremes remained valid. The paper analyses three foreign exchange regimes: Argentina (pegged), Chile (band) and Mexico (float). The Argentinean currency board delivered low financial volatility while it was credible, but even then it displayed high real volatility. Mexican float performed well in periods of instability isolating the real sector. The Chilean band delivered a mixed outcome as compared to Argentina and Mexico. This is linked apparently to a loss in the band's credibility, associated to policy mismanagement and an over-appreciation in the biennium before the crisis. Optimal exchange rate regimes vary across time and the conjuncture. Exit strategies are part of the election of the optimal system, including a flexible policy package rather than a single rigid policy tool.
Topic:
Development and International Trade and Finance
Political Geography:
Asia, Argentina, South America, Latin America, Mexico, and Chile

3307. From the Grabbing Hand to the Helping Hand: A Rent Seeking Model of China's Township-Village Enterprises

Author:
Jiahua Che
Publication Date:
01-2002
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
I present a study of ownership of firms under government rent seeking. Using its control of regulated inputs, a government agency extracts rents from a manager who undertakes an investment. Such a government rent seeking activity leads to a typical hold-up problem. Government ownership is shown to serve as a second best commitment mechanism through which the government agency will restrain itself from the rent seeking activity and even offer the manager support and favor such as tax breaks and subsidies. This mechanism works at a cost as government ownership compromises ex post managerial incentives and creates distortion in resource allocation. Nevertheless, government ownership may Pareto dominate private ownership under certain conditions. These conditions correspond to a host of stylized empirical observations concerning local government-owned firms (township-village enterprises) during China's transition to a market economy.
Topic:
Development, Emerging Markets, and Government
Political Geography:
China and Asia

3308. Household Income Dynamics in Rural China

Author:
Martin Ravallion and Jyotsna Jalan
Publication Date:
01-2002
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
It is well known in theory that certain forms of non-linear dynamics in household incomes can yield poverty traps and distribution-dependent growth. The potential implications for policy are dramatic: effective social protection from transient poverty will be an investment with lasting benefits, and pro-poor redistribution will promote aggregate economic growth. We test for non-linearity in the dynamics of household expenditures and incomes using panel data for rural south-west China. While we find evidence of non-linearity, there is no sign of a dynamic poverty trap. Existing private and social arrangements in this setting appear to protect vulnerable households from the risk of destitution. However, the concavity we find in the recursion diagram does imply that the speed of recovery from an income shock is lower for the poor, and that current inequality reduces growth in mean incomes.
Topic:
Development and Economics
Political Geography:
China and Asia

3309. Ratings since the Asian Crisis

Author:
Helmut Reisen
Publication Date:
01-2002
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
The increased importance of rating agencies for emerging-market finance has brought their work to the attention of a wider group of observers - and under criticism. This paper evaluates whether the importance of ratings for developing-country finance has changed since the Asian Crisis and whether rating agencies have modified the determinants for their rating decisions. It also provides an analysis on recent suggestions by the Basel Committee on Banking Supervision, as these are very important for gauging the future role of sovereign ratings for foreign debt finance in developing countries. While the explanatory power of conventional rating determinants has declined since the Asian crisis, recent rating performance for Argentina and Turkey can still be qualified as lagging the markets, as variables of financial-sector strength and the endogenous effects of capital flows on macroeconomic variables seem to remain underemphasized in rating assessments. The market impact of sovereign ratings is predicted to decline as agencies have started to modify their country ceiling policy and as market participants try to exploit bond trading opportunities arising from the lagged nature of ratings. The paper presents theory and evidence to suggest that the Basel II Accord will destabilise private capital flows to the developing countries, if the current proposal to link regulatory bank capital to sovereign ratings is maintained: Assigning fixed minimum capital to bank assets whose risk weights are in turn determined by market-lagging cyclically determined ratings will reinforce the tendency of the capital ratio to work in a pro-cyclical way.
Topic:
Development, Economics, and International Trade and Finance
Political Geography:
Turkey, Asia, and Argentina

3310. The ARF Breaks New Ground

Author:
Brad Glosserman
Publication Date:
08-2002
Content Type:
Policy Brief
Institution:
Center for Strategic and International Studies
Abstract:
The recent meeting of the ASEAN Regional Forum (ARF), the Asia Pacific's premier track-one security dialogue, has been applauded as a watershed for the institution—and rightly so. The group's pledge to fight international terrorism breathed new life into the forum. But the real significance of this year's meeting is to be found in the substance of those commitments. Implementation of the measures endorsed at this year's get-together would mark a turning point in the ARF, shifting both its focus and its role.
Topic:
Security
Political Geography:
Israel and Asia