An analysis of offer functions of banks and credit unions in Guatemala

Economists have sought to identify institutions which might fill the gap in household access to credit arising from rationing by formal lenders. Credit unions have been identified as institutions which might use informational and monitoring advantages to fill that gap. Using information on household perceptions of their access to credit, this article analyses the impact of certain credit unions on the access to credit of households in Guatemala. Regression results indicate that credit unions serve markets unserved by formal lenders and that information on household perceptions of their access to credit is important in making inferences about lender lending activities.     

Is Spain Different? The Tamed Memory of the Spanish Civil War and the Limits of Spain's National Self-Image (2008–10)

This article focusses on ongoing discussions about the place of the Spanish Civil War (1936–39) and the Franco dictatorship (1939–75) in Spain's democracy. Following the suspension of Judge Baltasar Garzón by the Spanish Supreme Court in 2010, who had indicted General Francisco Franco (1892–1975) and thirty-four accomplices under international law for committing crimes against humanity, a debate arose between leading intellectuals in Spain about the growing international influence on Spain's war past. This debate revealed that a group of influential left-wing intellectuals attempted to curb the social and political influence of the citizens' memory movements. The author observes how this happened by applying three strategies: the foreign strategy, the nationalistic-ethical strategy, and the saturation strategy. He concludes that the growing international pressure on Spain's handling of the Civil War and dictatorship led to a “Spanification” of the “culture of the transición” as a national memory, causing the memory movements to lose momentum and curbing the international influence on Spain's handling of its dictatorial past.     

From Crisis to Opportunity:the Rise of a Global Middle Class?

<正>In a live webcast before this month’s National People’s Congress, Premier Wen predicted that while last year was the most difficult year for China’s economic development…this year will be the most complicated.     

Morris on Paternalism and Punishment

Law and Philosophy -     

The American Revolution and Christine Desan's New History of Money

This essay argues that Christine Desan's Making Money: Coin, Currency and the Coming of Capitalism intervenes decisively in debates over the origin of money, while making a fundamental contribution to the legal history of money, the philosophy of money, and the history of capitalism. Desan shows money to be a mode of governance, created by rulers to extend their power, and maintained and managed by their successors. She argues that British politicians reinvented money at the end of the seventeenth century, creating the essential institutional basis for contemporary capitalism. The essay builds on Desan's analysis, showing how the tools she develops to understand the origins and development of British money can help us explain the expansion of capitalism, and the transition to capitalism associated with the American Revolution.