International institutions and market expectations: Stock price responses to the WTO ruling on the 2002 U.S. steel tariffs

Many scholars assert that international institutions have little power to enforce laws, punish offenders, or force compliance. Others stress that international institutions are important actors, specifically in the regulation of international trade. In this paper, I show that the recent trade dispute over U.S. steel protection provides us with a critical case to evaluate the role of the World Trade Organization in settling trade disputes and specifically stabilizing expectations of market actors over future steel policy. I argue that stock prices can serve as an important tool in answering these questions. In an empirical analysis using daily steel stock prices, I find that during the 2002 WTO steel case, the WTO dispute mechanism helped market actors stabilize expectations of future trade policy.

Reviews

Orlando Figes, A People's Tragedy: The Russian Revolution 1891–1924. London: Jonathan Cape, 1996, xx + 923 pp., £25.00

Hafeez Malik (ed.), The Roles of the United States, Russia and China in the New World Order. Basingstoke: Macmillan, 1997, xvi + 333 pp., £47.50.

Leszek Buszynski, Russian Foreign Policy after the Cold War. Westport and London: Praeger, 1996, xiv + 243 pp., £46.95.

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Competition and service quality: Evidence from Swedish residential care homes

Against a backdrop of increased levels of marketization of welfare services in OECD countries, this article aims to shed light on the separate effects of private ownership and competition for the market on service quality. Using residential elder care homes in Sweden as our case, we leverage unique panel data of ownership and competition against a set of indicators, pertaining to the structure, process, and outcome dimensions of care quality. The main finding of our analyses is that competition for the market does surprisingly little for quality: private entrepreneurs perform neither better nor worse under stiff competition and the quality of care is approximately the same in those nursing homes that are exposed to the market as in those that are not.     

Policy Analysis,International Relations,and European Governance – Beyond Disciplinary Boundaries

ABSTRACT

The article highlights the rationale of the special issue in terms of its objectives and guiding principles. It maps different evolutions and challenges within three analytical streams (1) regarding the field of policy analysis, (2) concerning the interaction between domestic and international affairs, and (3) with regards to the transformation of European Union governance in troubled times. These three research avenues highlight how not only European governance itself has evolved in a changing world, but also how the analysis of interests, institutions, and policy-making has morphed, oftentimes transgressing disciplinary and methodological boundaries.     

Gender Discrimination in Microfinance? Some Evidence from Uganda

Abstract

Microfinance literature has proved the existence of gender discriminatory practices against women in some specific contexts. Discrimination is often explored from the access side (loans approved or denied). Following Agier and Szafarz (2013), we deviate from this practice and use the variable loan size, considering up to four loans for each client. Drawing on data from a microfinance programme in Uganda, we find no evidence of gender discrimination against women clients, even though our results show that the loan size is influenced by personal characteristics and that women, in contrast to men, are rewarded according to their credit history.