Is resilience enough? The macroprudential reform agenda and the lack of smoothing of the cycle

After the financial crisis, central banks were entrusted with implementing an ambitious macroprudential reform agenda. The goal was arguably twofold: to increase the resilience of the financial system and to lower the amplitudes of the financial cycle. A decade later, the implementation of the agenda is characterized by the pursuit of measures to raise the resilience of the financial system, while tools to smoothen the cycle have been rather sidelined. To explain this difference in implementation efforts, the article combines ideational scholarship with the analytical stance of reputational theory and analyses the technocratic debate over macroprudential strategy among policy‐makers of the Fed, the Bank of England (BoE) and the European Central Bank (ECB). The article identifies reputational concerns linked to the need for discretionary interventions, the uncertain scientific status of the concept of the cycle and missing metrics as causes for concern, leading most central banks to shy away from forcefully implementing this policy goal.     

The Political Economy of the Provos: Inside the Finances of the Provisional IRA—A Revision

Few academically rigorous accounts exist of the financial activities that sustained the rise of the Provisional Irish Republican Army (PIRA) during the Northern Ireland Troubles. Through a sustained methodology this study seeks to challenge some popular preconceptions and address omissions in the limited historical record. The article explores the organization's evolving financial sophistication by analyzing PIRA's acquisition of capital rather than its arms dealings. Using a new quantitative evaluation, this investigation confronts the prevailing understanding that Irish-American funds were of unrivaled significance to PIRA. It points to an array of domestic fund-raisers that collectively provided the overwhelming bulk of revenue. The study reveals also how PIRA developed an extensive reliance on criminal gangs for its expertise in illegal fund-raising, suggesting that moneymaking schemes were perceived as a necessary but unpopular by-product of the greater political objective. Finally, this article briefly explores how the British authorities sought to interdict PIRA's funding. While the general perception is that little was done to counteract PIRA's financing initiatives in the early phases of its violent campaign, this study, nevertheless, reveals that a subtle counterfinance initiative did take place in Belfast across the 1970s. Overall, the analysis enables a more rounded comprehension of the group's financial resilience.     

Adjustments in municipal fiscal crises. Are they different according to the gender of the mayor?

The literature on gender has attempted to explain the differences between the public outcome depending on whether the ruler is male or female, on the basis that men and women have different preferences. This scientific research has not yet examined issues related to fiscal crises, and our research aims to fill this gap. In a context of generalised economic crisis, our research examines if the gender of the mayor affected the fiscal adjustment policies carried out by municipalities with fiscal deficits in the Spanish region of Galicia. Our paper suggests that although gender of the mayor does not seem to have affected the level of adjustment in total current expenditure, it does seem to have influenced the way in which social and non-social spending were adjusted. Our study also highlights that female mayors are associated with lower levels of tax revenues and this could slow the adjustment processes of fiscal imbalances.     

Are the LDCs really the world’s least developed countries?

The term ‘the least developed countries’ (LDCs) is widely understood to designate, exactly as stated, the world’s least developed countries. In conjunction with the 2015 United Nations (UN) triennial review of the LDC category, this article attempts to critically evaluate the UN’s list of LDC countries in the light of various indicators – economic, social, political, military and security related, and psychological. It concludes that the official and actual lists of LDCs, despite important similarities, are not completely identical. The term ‘the LDCs’ as used by the UN is therefore not fully consistent with the reality it attempts to designate and describe.     

A changing world: is the UN development system ready?

This article examines five contemporary areas of development concern that have become major drivers of global transformation since the turn of the millennium: the plight of fragile states; the emergence of new powers and new development funds in a changing aid landscape; the need for developing countries to manage the growing resources at their disposal; encroachments on the political sovereignty of states; and new global challenges that demand global action, including climate change, migration, and food security. These drivers of change call for responses from the UN – and in particular its development system of some 30 organisations. The ongoing protracted debate on the future UN development agenda should take cognisance of these changes if the system is to remain relevant after 2015. But the signs are not promising that either the agenda or the UN development system are up to the task.     

Women's rights in the muslim world: reform or reconstruction?

The issue of gender inequality is an acute problem in countries where women's lives are governed by laws, and configured by customs and traditions, said to derive from Islam. In the second half of the 20th century, two Muslim feminist paradigms have emerged in response to this malaise. Islamic feminists aim to establish women's rights within the Islamic framework by re-interpreting Islam's holy sources. In contrast, secular feminists challenge the particularistic nature of the Islamic framework and advocate the application of a set of standard universal rights for Muslim and non-Muslim women. This article focuses on the writings of the Moroccan feminist Fatima Mernissi, tracing her evolution from advocating secular reconstruction of Muslim societies to a position that resembles Islamic reformism.     

The communicative aspect of nonfatal suicidal behavior--are there gender differences?

Data from the Norwegian part of the WHO/EURO Multicenter Study on Suicidal Behavior were used to investigate gender differences in the communicative aspect of nonfatal suicidal behavior by means of analyzing precipitating factors, intentions involved in and effects of the suicidal act within the frame of Qvortrup's interpretation of speech-act theory. Eighty-nine patients (48 women and 41 men) were included in the analyses, virtually no gender differences were found. Thus, in general, the results did not support the view that persons engaging in nonfatal suicidal behavior should receive different treatment or follow-up as a group based on their gender. The results gave some support to Qvortrup's speech-act theory and his four categories of suicidal behavior, emotional toward others, regulative toward others, emotional toward oneself and regulative toward oneself.     

One Woman’s View of the Early Chinese Communist Movement: The Autobiography of Mme. Zhang Guotao

Abstract

Wei Baqun, leader of the influential Donglan Peasant Movement in southern China in the 1920s and 1930s, was attacked by his Nationalist enemies as a real and dangerous Communist long before he joined the Chinese Communist Party. Meanwhile, some of his Communist comrades were reluctant to admit him into the Party or to recognize him as a genuine Communist even after he joined the Communist Party. But after his death, they all began to promote him as a perfect Communist. Through an analysis of Wei Baqun’s life and revolution, this article shows how controversial and conflicting perceptions of the political identity of a political leader could exert strong influence on the political career of the leader and on local and national politics in revolutionary China. The article also attempts to explain why the confusion and controversy over Wei Baqun’s identity dissipated after his death.     

Religious Intellectuals, the “Woman Question,” and the Struggle for the Creation of a Democratic Public Sphere in Iran

The ideas of the new generation of religious intellectuals in Iran have been the main engine for the call for reform. These intellectuals have attempted to locate their views about the way women are and should be treated in Islamic societies in their much broader—and to them more significant—attempt to offer a modernist religious understanding and a more democratic reading of the role of religion in modern polity. Iranian feminists, on the other hand, have begun to insist that the particular situation of women in Iran is in need of more attention. Religious intellectuals have responded by engaging in reluctant analysis of the way the woman question poses itself in the Iranian context. So far, their analyses fail to take into account the gender implications of the struggle against absolutism and traditional authority. However, the dynamic interaction of the reform project with demands and aspirations of various sectors of Iranian public life will not allow the issue to rest here. Religious intellectuals, in their attempt to recreate essential religious truth in the form of new intellectual concepts and systems, will increasingly have to deal with systemic gender inequalities in a more systematic manner.