Do Democracies Attract Portfolio Investment? Transnational Portfolio Investments Modeled as Dynamic Network

For many, transnational capital is an important driving force of economic globalization. However, we know little about the political determinants for cross-border portfolio investments. Recent economic literature focuses upon information asymmetries. We move beyond this and introduce an explicitly political element into the study of international asset flows. Democratic institutions attract portfolio investments because they reduce the chances of government predatory practices. Applying a dynamic latent space model on the bilateral portfolio investment data from 2001 to 2005, we empirically examine the effects of important country-level characteristics of both exporters and importers of portfolio investments. The empirical findings suggest that democracies are often associated with higher levels of inward portfolio investments. Interestingly, we also find that portfolio investments are associated with business communities’ subjective estimate of property rights protection, but not with more comprehensive, index-based aggregate measures from international think tanks.     

全球化对当代国际关系的影响

人类社会的全球化进程始于近代资本主义的对外扩张 ,西方资本主义国家在全球化的发展过程中始终扮演了推动者的作用。全球化的发展透视出一个以经济为中心 ,逐步向政治、文化等领域扩散的发展态势。西方国家在推动全球化发展的过程中 ,利用其资本、技术、信息和组织的优势 ,一直谋求把资本主义的经济模式、政治制度、价值观念和西方文化推向全球 ,构建西方发达国家主导的世界秩序。     

Comic Relief: Using Political Cartoons in the Classroom

Political cartoons are an excellent classroom tool to build students' critical thinking skills, to generate lively classroom discussions, and to get students excited about politics. Cartoons should be treated as serious commentary on political affairs. Interpreting a cartoon requires that the viewer be familiar with current issues and debates, savvy about the cultural context, and capable of analytical judgments. This technique capitalizes on the visual learning style of many students and interjects an added interactive dimension to classroom discussions. This article discusses some of the challenges of using cartoons in the classroom, including where to locate them. The text is accompanied by several representative cartoons.     

Terrorism and Counterterrorism: An Integrated Approach and Future Research Agenda

In this commentary, we make the case that the analysis of terrorism and counterterrorism must be based on an integrated theory that links both issues together. Terrorist groups’ ultimate goals must be distinguished from their strategic goals and the strategic logic by which they employ terror and select targets to further their ultimate goals. The strategic logic of terrorism is thus key to understanding patterns of terrorism and the counter-reaction by governments against it. We make the case for a unified approach and suggest major areas for future research.     

Experiencing Globalization: Active Teaching and Learning in International Political Economy

This article explores the teaching and learning challenges for the discipline of international studies (IS) that arise from the contemporary social, economic, and political changes usually labeled "globalization." The focus is upon the challenge posed to IS by a transformation in the nature of the relationship of teachers and students to the subject matter that they study: that is, teachers and students increasingly experience and contribute to globalization in the course of their daily lives as they simultaneously teach and learn about it. Significantly for the study of globalization in IS, pedagogical debates surrounding active teaching and learning highlight the potential for strategies that actively engage students' interests and everyday experiences with the subject itself. On this basis, the article outlines some potential routes into the active teaching and learning of globalization in the field of international political economy, illustrating these with examples from classroom activities and exercises.     

Nativism or Economic Threat: Attitudes Toward Immigrants During the Great Recession

To better evaluate the weight of economic versus cultural factors in determining individual attitudes toward open borders, this article reports on a survey experiment conducted over the course of the Great Recession. Over the course of the recession, we measured changes in attitudes on both immigration and trade policies, controlling for economic circumstance. Based on the data provided by respondents on both their current salaries as well as a subjective assessment of their economic well-being, we illustrate how both objective and subjective perceptions of the economy interact with cultural factors and influence attitudes on open borders. The panel provides a unique picture of the “stickiness” of policy attitudes in hard economic times, and by extension, the level of commitment in the United States to globalization.     

The Social Construction of Policy Reform: Economists and Trade Liberalization Around the World

We argue that the global spread of ideas contributes to trade liberalization. Building on insights from a rich case-based literature, we suggest an explicit mechanism of trade policy diffusion: US-trained Ph.D. economists, who share a common belief in the benefits of free trade, and who operate with varying degrees of political influence around the world. We offer the first cross-national test of the impact of economists on trade liberalization using a unique dataset recording the country of residence of all 6,493 foreign-based, US-trained American Economic Association (AEA) members over the period 1981–1997. Specifically, we measure the influence of economists on the timing and extent of trade liberalization. First, we endogenize the date of trade liberalization using hazard and probit models. Controlling for alternative diffusion mechanisms and other confounding variables, our results suggest that economists significantly speed up the reform process. Second, we find that countries with greater numbers of economists are more open to trade at the end of the period. All of our results are robust to an instrumental variables strategy that employs the number of Fulbright grants allocated by the United States as an instrument for the number of US-trained economists.     

中俄经济转型初期经济政治目标关系对比分析

任何一场改革都要牵涉到政治和经济等重大领域。在经济转型初期,中国和俄罗斯在处理经济目标和政治目标的关系上表现出明显的不同。俄罗斯以政治目标为主要目标,经济目标的实现为政治目标服务。中国在经济和政治领域同时进行改革,偏重经济目标的实现,从而推动政治改革进程。不同政治权力的这种安排取决于目标内容的差异。正确认识这种差异不仅有利于我们处理好经济建设为中心与以人为本、可持续发展的关系,处理好理论创新、制度创新与四项基本原则的关系,还有利于认识不同国家民主化与市场化的次序安排,坚定社会主义的信念。     

Breaching the levee,waiting for the flood. Testing beliefs about the internationalization of securities markets

Abstract

In the 1970s and 1980s, the three major securities markets in New York, London, and Tokyo underwent significant regulatory shifts that lowered national barriers to entry and liberalized the markets. Popular explanations point toward technologies, economic efficiencies, foreign policy pressures, the removal of controls on international capital flows, or international competition as unleashing forces promoting liberalization and breaching the regulatory levees. Such explanations generate expectations about behavior once the international pressures are unleashed. Significant changes in overseas participants' market behavior should be observable. International competitive pressures should produce convergence in regulatory and transaction costs across markets upon one of two equilibriums—one by competitive deregulations or another by harmonization through agreement. Empirical tests produce results inconsistent with such expectations. Foreign participation does increase following the breach in the regulatory levees, but the unleashed demand cannot be described as a flood. Observable measures of market dynamics and transaction costs remain distinctive. The inconsistencies between results and expectations raise questions about explanations that emphasize increasing interdependence and international pressures as driving domestic political and economic changes.     

中印贸易关系的国际政治经济学分析

国际政治经济学为我们理解国际贸易提供了一个清晰简易的视角,通过这一视角,我们能够更好地理解国际贸易理论,并在此指导下更好地分析国际社会上的贸易行为。中国和印度的贸易额迅速增长,是对方增长速度最快的贸易伙伴之一。两国的产业结构既存在互补的方面,也存在竞争的一面。本文试通过国际政治经济学视角下的国际贸易理论,从影响两国贸易关系的经济和政治两方面的因素对中印贸易关系进行分析。     

Who Promotes Protection? Economic and Electoral Influences on Trade-Related Position Taking in the Senate

Existing studies of Congressional behavior devote little attention to understanding legislators' trade-related positions outside the context of roll call votes. Using a new dataset on bill sponsorship that spans 15 Congresses, the author explores the factors that affect a senator's propensity to introduce protectionist trade bills, including state-level manufacturing characteristics, economic cycles, and electoral vulnerability. The results provide support for a number of the prominent economic-based explanations for trade policy preferences, including the Heckscher-Ohlin and Ricardo-Viner models, and also draw attention to several additional economic and political influences on policy outcomes. Beyond trade politics, these findings have implications for the expanding body of research on bill sponsorship as well as the literature on the role of Congress in U.S. foreign policymaking.     

南海共同开发的国际政治经济学

本文试图用国际政治经济学的视角对南海共同开发这一问题做出分析,分析政治解决模式的局限性和国际政治经济学解决模式的优越性和良好前景。     

和平不是必然:对当前国际安全与战争问题的战略反思

2015年是人类空前的浩劫——第二次世界大战结束70周年。二战的破坏可谓空前,但其是否绝后,却还有待观察与思考。正如我们可以把战争分为\"热战\"与\"冷战\"一样,和平同样也可分为\"冷和平\"(假和平)与\"真和平\"。\"冷和平\"是一种非常不稳定的国际关系状态,\"冷和平\"容易给人以和平的假象,以为和平就是必然的,战争离我们很远,从而使得某些中小国家容易\"任性\",大国容易缺乏包容,低端政治问题容易\"越位\",这反而容易酿成真正的大危机与大危险。近期西方战略学者发出的\"基辛格之忧\"与\"哈斯之问\"也反映了对\"冷和平\"的忧虑。国际社会如果对\"冷和平\"状态认识不够、处置不当,则有可能导致国际战争的再现与和平的终结。从历史、现实、未来三个维度,结合中国的国家安全与大国博弈的背景,对国际安全与战争问题做战略思考,可以发现:从历史维度来看,人们对国际战争的认识经历了一个历史过程;从现实维度来看,当前中小国家\"任性\"乱为,大国博弈暗流涌动,\"冷和平\"状态令人担忧;从未来维度来看,中美关系与中日关系是影响中国国家安全的最重要的大国关系因素,也是中国对国际战争问题进行战略思考与未来展望时所无法回避的。中国要妥善谨慎地处理好中美关系与中日关系,未来爱好和平的中国将会成为遏制国际战争的重要力量。