How the City of London lost at Brexit: a historical perspective

The nature of the City of London as an offshore financial centre has long made London dependent on the British state providing protection from external political regulation, even as London’s foreign currency business separated its interests from British governments’ economic policy preoccupations. Since the 2008 crash and the onset of the eurozone crisis, London has faced threats to both its autonomy from external regulatory demands and to its offshore business interests at the same time as the long-standing external statecraft of British governments around EU membership has broken down. The Cameron governments’ efforts to protect the City within the European Union under political conditions that were transformed by the eurozone crisis exposed the limits of Britain’s position as a member of the European Union. When David Cameron then tried to resolve the problem of EU membership through a referendum he made it extremely difficult to defend the City’s broader commercial interests in the Single European Market because freedom of movement issues weighed significantly more in British domestic politics than financial services.     

The lost generation: How the government and non-governmental organizations are protecting the rights of orphans in Uganda

Millions of Ugandan children have become orphaned over the last two decades, the primary cause being the increasing HIV/AIDS epidemic. This phenomenon has prompted the government to institute numerous legal reforms. These internal reforms, implemented in a legal environment based on English common law and increasingly, international standards, greatly influence the legal inheritance rights of Ugandan orphans and their chances for prosperity. In many regions, however, the traditional local mores trump both national and global standards, meaning that while Ugandan parents may own appreciable property upon death, their children rarely receive it, but rather fall victim to “property grabbing” or mismanagement by relatives. The key impediments to solving this problem and to Uganda’s adoption of a more egalitarian system of inheritance include the ineffectiveness of local councils, the inadequate enforcement of the Children Stature, and the heavily centralized and cumbersome structure of the national government. Therefore, significant reforms are needed, including the pronouncement of a national policy regarding orphans, the reduction of national reliance on NGOs, and the restoration of a national legislative effort to codify orphans’ property rights.     

乡镇政府改革的缘由及其路径选择

乡镇政府改革时下成为各界关注的焦点,乡镇政府何去何从?改革的路径是什么?本文在简单分析乡镇政府改革的缘由的基础上,着重从体制上分析乡镇问题的原因,指出乡镇的很多问题是体制使然;文章的第三部分对几种流行的改革路径做了一个简单的分析,并对当前可行的路径做了初步的探讨。     

How the IMF lives with its conditionality

In spite of the intense controversy associated with the conditionality of its lending, IMF decisions are not voted upon but are the sense of the meeting of the Executive Directors as declared by the Managing Director. This unusual decisionmaking process is a substitute for secrecy of voting, which is not feasible within the IMF. It permits the wealthier countries to impose adjustment conditions without the appearance of the continual exercise of their majority power in the IMF. It permits the poorer, developing countries to agree or to disagree without taking an explicit position or to disagree with less danger to the favorable consideration of any future request which might be made.     

How Russia's Internet Research Agency Built its Disinformation Campaign

In this article we analyse features of the information influence operations run by the St. Petersburg based Internet Research Agency, targeted at Europe. Informed by publicly available ‘open source’ data, the analysis delineates three key tactics that underpinned their disinformation campaign: account buying; ‘follower fishing’; and narrative switching. Both individually and collectively these were designed to build the reach, impact and influence of the ideologically loaded messages that social media account operators authored and amplified. The particular value of the analysis is that whilst a lot of recent public and political attention has focussed upon Kremlin backed disinformation in respect of the 2016 United States presidential election, far less work has addressed their European activities.     

Rents, dissipation and lost treasures: Comment

In an interesting recent paper, Dari-Mattiacci and Parisi (2005) extended Tullock's (1980) rent-seeking game with an entry decision. The mixed strategies identified by Dari-Mattiacci and Parisi for the case of increasing returns in the contest success function (r2) do not constitute an equilibrium of the game they study. However, these strategies are an equilibrium if the strategy space of the game is restricted by a minimum expenditure requirement, and this minimum expenditure requirement is an element of a specific interval.     

Rents, dissipation and lost treasures: Rethinking Tullock's paradox

In this paper we revisit Tullock's paradox (Tullock, 1980) and consider a rent-seeking game in which parties face increasing returns to effort. We allow parties to randomize their strategies and give them an exit option. Given the mixed participation strategies of the parties, valuable rents may occasionally remain unexploited. We consider such a lost-treasure effect as an additional cost of rent seeking and examine how the expected value of such a lost rent varies with changes in the parameters of the problem.