Municipal Bond Issuance: Is There Evidence of a Principal-Agent Problem?

Is there evidence of a principal-agent problem in the municipal bond industry? Do public managers, either on their own or through private sector agents, act to increase their own utility at the expense of the public? This article examines municipal bond decisions in the context of principal-agent theory based on data collected through a random sample survey of municipal bond issuers. Principal-agent theory is not well developed in the public sector. In the municipal bond industry, however, we have evidence that it helps explain the actions of public managers and elected officials, in particular for pay to play and the importance of interest rates vis-à-vis relationships. These actions carry potential costs to citizens.     

The deceptive illusion of multi-paradigm development practice

This article responds to commentaries by Blunt, Bell and Joy on Cooke's ‘From process consultation to a clinical model of development practice’ in the August 1997 issue of Public Administration and Development. Following the paradigmatic analyses those commentaries introduce, it begins by trying to clarify the range of meanings attributed to the term ‘paradigm’. It then argues, that Blunt's critique does actually derive from a particular single (i.e. mono-) paradigm, the application of which causes my initial arguments to be mis-represented, and exemplifies the limits of that paradigm in practice. It goes on to agree that generic process approaches do have some cultural limitations, and that they can be used for ideological manipulation, although not inevitably in the pursuit of so-called democratic values. The clinical-process model is, however, distinct from these generic approaches and actually provides some safeguard against these problems. The article moves on to demonstrate that a multi-paradigm approach to practice, as opposed to analysis, is illusory, because it is impossible, and deceptive, as claims for multi-paradigm practice conceal the practitioner's inescapable paradigmatic assumptions. In conclusion it argues that until we recognize that ‘development’ per se is a ruling paradigm we are all imprisoned within it. © 1997 John Wiley & Sons, Ltd.     

Does public participation matter? Inclusive growth in East Asia

Inclusiveness in economic development has lately emerged as a critical factor for development. This paper adopts an analytical concept of inclusive growth to evaluate East Asia’s economic success. It contests the Western conceptualization of the critical role of public participation in development, and argues that it has played a limited role in terms of inclusive growth in East Asia. Several factors have influenced the outcome of research in this area including the choice of methodology adopted, the challenge of defining and measuring inclusive growth, and the unclear mode and impact of public participation in the process.     

The effect of majority party agenda setting on roll calls

Public Choice - Armed conflicts—especially wars—between/among nation-states, considered as monolithic wholes, surely reduce the mutual benefit they enjoy from trade. That common sense...     

Resistance to European Law and Constitutional Identity in Germany: Herbert Kraus and Solange in its Intellectual Context

This article recasts our understanding of the Federal Constitutional Court's Solange decision by tracing its lineage within the domestic context and as part of a new history of EU law. The external dynamic of the decision, a moment of judicial discourse between two of Europe's highest panels, has been the focus of many studies. Much rarer are attempts to embed the decision within its internal context: the struggle within the German legal academy to accept the primacy of EU law. Central to this contextualisation is the reinvigoration of the ‘structural congruence’ theory of Herbert Kraus, which long shaped the German reception of EU law. This article recounts Kraus' theory, tracing the struggle for the German legal consciousness between three positions: constitutionalists, traditionalists, and the congruence advocates. While Hallstein's constitutionalism is most closely associated with Germany's early Europhilia, even he admitted by 1975 that Kraus had won the day.     

The relationship between childhood sexual abuse and adult mental health among undergraduates: victim gender doesn't matter

A large body of research has documented the harmful effects of childhood sexual abuse (CSA) on adult mental health among females, but less work has examined this issue among males. This study examined whether gender moderated the relationship between CSA and adult mental health among a mixed-gender sample of 406 undergraduates. A Pearson chi-square test indicated that a significantly greater proportion of females (41.6%) than males (30.7%) reported a history of CSA. ANCOVAs tested whether gender, CSA status, and their interaction were related to adult mental health symptomatology as measured by Brief Symptom Inventory gender-normed t scores. Participants with a history of CSA reported significantly higher levels of global mental health problems, hostility, paranoid ideation, and psychoticism. The gender by CSA status interaction was not significant for any scale, indicating that the harmful effects of CSA on adult mental health did not vary by gender.     

Bundaberg and beyond: duty to disclose adverse events to patients

Although much excellent work has been done in Australia and elsewhere to improve the safety and quality of health care provision, the practice of medicine is inherently risky--adverse events sometimes occur. In Australia, practical guidelines for the open disclosure of adverse events to patients have been developed and are being implemented. State and Territory medical boards have recently adopted Codes of Conduct which include disclosure provisions, although the Australian Medical Association's Code of Ethics does not yet contain express patient disclosure provisions. There is a dearth of authority concerning legal obligations to disclose known or suspected adverse events. Although many Australian jurisdictions have introduced statutory protection for those who apologise or express regret to patients following an adverse event, there is no corresponding express statutory disclosure obligation, unlike in some parts of the United States. The Bundaberg experience illustrates the complex ethical, practical and legal issues which arise in this area.     

Co‐production: Option or Obligation?

Co‐production is an idea being discussed in the international public management literature but less so in New Zealand and Australia. Co‐production rejects the idea of service delivery to passive users, proposing instead they be treated as active participants in the production of outcomes. As partners in delivery, users bring resources, skills and capabilities to their interactions with providers. Co‐production requires providers to share power and negotiate the interaction. There are strong managerial reasons for adopting co‐production to improve effectiveness and efficiency. But the political reasons for adopting co‐production are even stronger because of trends of many decades towards greater citizen participation. These reasons oblige public managers in Australasia to adopt co‐production in many fields of policy as part of the future.