Does political instability affect exchange rates in Arab Spring countries?

This article investigates the dynamic relationship between political instability and exchange rates in five Arab Spring countries over the period 1992Q1–2016Q4. We include macroeconomic fundamentals to identify the transmission channels through which political instability may affect exchange rates. Based on VAR and ARDL models, our results report that political instability is associated with a significant drop in the value of domestic currencies of these countries. Economic growth is found to be the key mechanism channel. We find also that the dependence between variables is more emphasized in the short run than in the long run.     

Decentralized Governance,Constitution Formation,and Redistribution

What determines the relative strength of central and regional governments? Why do centers engage in more or less geographically based economic redistribution? And why do some centers redistribute from urban to rural areas while others do the opposite? This research answers these questions with reference to decentralized politics at key constitutional moments. Much contemporary research underscores the importance of the intergovernmental balance of power – be it in taxing authority or decision making autonomy – on economic outcomes. Many features of that balance are rooted in bargains struck at the time of constitution writing. Here, I suggest that the key ingredients in such bargains are the number of conflicting geographically salient factor endowments, the distribution of inter-regional inequality, and the degree of intra-state inequality within rural and urban regions. The greater the level of factoral conflict, the more elites who engage in constitutional negotiations are likely to constrain the central government by providing for substantial regional veto authority. Higher levels of inter-regional inequality heighten demands for inter-regional redistribution. Given some level of regional demand for central redistribution, whether its net effect is in favor of urban or rural regions will depend on the coalitional implications of inequality within regions. I examine the argument in light of the U.S., Argentine, and Indian processes of constitution formation.     

Political transition and bank performance: How important was the Arab Spring?

Using data for 2000–2012, the article utilizes the natural experiment of the Arab Spring to examine its impact on the risk and returns of MENA banks. The analysis indicates that the Arab Spring lowered bank profitability by roughly 0.2% and raised bank risk by 0.4% points. As well, the evidence appears to suggest that there were no differential effect of the political conflict on the performance and stability of Islamic banks.     

A note on economic freedom and political ideology

Within the field of public economics, there is the perception that Republicans are associated with ‘small government’ and Democrats with ‘big government’. We test this notion by examining whether economic freedom is affected when a single party is in control of the state legislature. We find no link between party control and our main economic freedom indicator, but we do find a positive link between Republican control and the taxation component of economic freedom, suggesting a Republican legislature leads to lower taxation.     

Spontaneous (non)emergence of property rights

The paper analyses preferences of private owners over the degree of property rights protection. It is shown that inequality in resource ownership and/or relative inefficiency of production technologies could make wealthier agents favour less than full protection of property rights. If such agents control the choice of a property rights regime, fully secured property rights will not emerge from the grassroots. This conclusion is consistent with the failure to create an efficient property rights system in Russia.     

The French Communication Industry Defined and Analyzed through the Social Fabric Matrix,the Filiere Approach,and Network Analysis

This paper examines the relative impact of economic freedom, civil liberties, and political rights on growth. A system of three simultaneous equations is used to unearth the channels through which these institutional dimensions affect economic growth. These include greater efficiency and enlarged investment in physical and human capital. The sample contains 79 countries and six periods covering the years from 1976 to 2005. The results show that the three dimensions of institutional quality are important for economic growth either through a better allocation of resources or, indirectly, through the stimulation of investment in physical and human capital.     

Welfare State and Welfare Society

This paper updates and extends my earlier work on how the middle class fares throughout the world based on the microdata sets that comprise the Luxembourg Income Study (LIS). Wave #6 LIS data, recently released and centered around 2004, provides an opportunity to assess what has happened to the size of the middle class around the world in the early 2000s. In contrast to the 1980s and 1990s, there was no noticeable decline in the middle class during the early 2000s. The paper provides further evidence that the size of the middle class in each nation depends mainly on government tax and spending policies. In particular, it shows the key role played by family allowances and paid family leave in supporting a national middle class.     

中国社会福利和收入再分配：1988-2007年

基于中国居民收入分配课题组（CHIPs）1988-2007年的住户调查数据,本文分析了中国福利体系的大小、结构及其再分配性质。本文发现,中国的福利体系仍然存在巨大的城乡分割,城市居民的社会福利更全面,福利收入更丰厚,其福利水平接近于一些西方发达国家;而农村的福利制度则不完善,福利收入非常微薄。同时,城市的福利收入体系尽管近几年的再分配作用有所减弱,但总体而言是累进的,有效降低了收入不平等。而农村的福利体系几乎对收入差距的缩小没有影响,但从2007年的结果来看,农村累退的福利体系开始向累进的方向转变。农民工的社会福利收入在2002-2007年间大幅度增加,并发挥了巨大的再分配作用。     

Constitutional Foundations of Economic Freedom: A Time-Series Cross-Section Analysis

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 constitutional “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. The authors are grateful to Alan Hamlin and an anonymous referee for their highly valuable input to the development of this paper. Tel.: +1-604-291-4167     

The Black Worker,Economic Justice and the Speeches of Sadie T.M. Alexander

This paper examines Sadie Tanner Mossell Alexander's challenge to racial oppression within the US. In 1921, Alexander became the first African American woman to earn a PhD in economics. The author links Alexander's arguments for black political rights to the provision of economic justice for working class Americans.     

中国网络民主发展问题研究

随着科技的进步,互联网技术发展日新月异,网络信息技术迅猛发展,其影响已经渗入到社会生活的方方面面,网络技术的应用也为全面突破传统民主形式的局限注入了新的生机,对民主建设有着不可或缺的作用和深远的影响。但是由于中国的网络民主仍然处在发展的初级阶段,其本身必然存在一定的问题。因此,通过对网络民主的定义、发展现状及存在问题加以分析研究,进而对中国网络民主发展的完善策略进行探讨。     

构筑朝鲜半岛和平的中韩合作新方向

朝鲜第三次核试验后,朝鲜半岛的安全形势面临的挑战因素增多。东亚战略对话框架的重构虽加速中韩的靠拢。但基于突破半岛僵局的中韩关系仍面临着政治互信缺失而导致的合作深度不足问题,加强政治互信、倡导多赢合作机制,通过经济合作缓和政治僵局是共同致力于实现构建区域内信任与合作的中韩战略协作的努力方向。     

新时期下如何做好思想政治工作

实践证明,思想政治工作在中国革命和建设的各个时期都发挥了巨大作用,是攻坚克难,化解矛盾,取得一切胜利的重要法宝。在全面推进改革开放的新形势下,思想政治工和者面临着许多新情况、新问题,必须适应变化了的情况,解放思想,实事求是,坚持理论创新,始终用科学的理论解释新情况,解决新问题,回应人们的思想实际,不断提高思想政治工作的说服力和战斗力。