Federal Intervention in the Municipal Bond Market: The Effectiveness of the Build America Bond Program and Its Implications on Federal and Subnational Budgeting

The American Recovery and Reinvestment Act of 2009 (ARRA) included several new federal programs intended ostensibly to “unfreeze” the credit markets as a result of the global financial crisis. One such program, the Build America Bond (BAB) program, aimed to lower the borrowing costs for state and local governments by increasing their access to capital and providing a more generous federal subsidy than the traditional indirect tax exemption subsidy. BABs are taxable bonds sold by subnational governments, which carry a 35 percent direct federal payment subsidy to the borrower. In creating this program, the federal government hoped that the large direct federal subsidy along with greater potential investor interest in taxable securities would result in lower borrowing costs for state and local governments vis‐à‐vis traditional tax‐exempt bonds. This research study examines the relative effectiveness of the BAB program and details the various quantitative and qualitative implications on federal and subnational budgeting by moving from an indirect to a direct federal subsidy approach in facilitating state and local government capital raising.     

THE ECOLOGY OF GANG TERRITORIAL BOUNDARIES*

Within any type of system, the actors in the system inevitably compete over resources. With competition comes the possibility of conflict. To minimize such effects, actors often will partition the system into geographic territories. It is against the larger ecological backdrop of competition and conflict that we examine territory formation among urban street gangs. Although previous studies have examined the social and built environment where gangs form, and how the presence of a gang influences local levels of violence, we know little about how competitive interactions are tied to the formation and maintenance of gang territories. We use formal spatial Lotka–Volterra competition models to derive hypotheses about competition‐driven territory formation. By using data on 563 between‐gang shootings, involving 13 rival street gangs in the Hollenbeck Policing Division of Los Angeles, we show that violence strongly clusters along the boundaries between gangs in a way that is quantitatively predicted by the theory. The results suggest that even weak competitive interactions between gangs are sufficient to drive gang territory formation without recourse to other processes or assumptions.     

FEAR OF CRIME AMONG KOREAN AMERICANS IN CHICAGO COMMUNITIES

This study examines Korean Americans' perceived incivilities, perceived crime risk, and fear of crime using an explanatory model combining group threat theory of racial hostility and risk interpretation theory of fear of crime. In particular, our hierarchical linear models show strong effects on fear of crime for English proficiency, length of U.S. residence, preference for ethnic Korean media, perceived risk of future black rioting, and anti-black prejudice. We discuss the importance of cultural factors and the dynamics of race and ethnic conflicts in explaining fear of crime, and suggest directions for future research on race relations, perceived victimization risks, and fear of crime.     

中国海事诉讼法学研究回顾与展望

本文对我国海事诉讼法学多年来的研究成果分管辖权、海事请求保全、海事审判程序等几个方面有重点的进行了综述 ,也提出了个人简要评析 ,并展望了海事诉讼法学的未来发展。     

Party over Policy? Scottish Nationalism and the Politics of Independence

The Scottish National Party (SNP) won control of Scotland's devolved government in the 2007 election yet opinion polls show no majority for its objective of independence in Europe. While the party is adept at exploiting short‐term political opportunity structures in the wider British context, as well as appealing to the ‘opinion electorate’, it appears less successful at persuading a majority of Scottish voters to agree with its core ideology. Helpful parallels can be drawn between 2007 and the last time the party polled over 30 per cent of the popular vote in Scotland at the 1974 (October) British General Election—then, as now, the Scottish voter appears to be willing to distinguish between party and policy.     

韩日FTA之研究

世界经济正处于地区合作的时代.为了能动地应对世界经济环境的变化,缔结地区贸易协定并同主要贸易国建立更加亲密无间的关系已成为推进全球化和本国经济制度现代化的一种手段.本文以现在韩国政府正在全方位推进的韩日FTA为研究对象,探讨韩国政府有关的政策方向和战略,研究韩日两国间FTA的推进方向.     

THE REFORM OF FINANCIAL MANAGEMENT IN THE EUROPEAN COMMISSION: A PUBLIC MANAGEMENT POLICY CYCLE CASE STUDY

Since the mid‐1990s during the Santer, Prodi, and Barroso presidencies, the European Commission has experienced several public management policy cycles. Included on the Barroso Commission's (2004–2008) policy agenda was the reform of internal financial control, prompted by significant irregularities in budget execution signalled repeatedly by the European Court of Auditors (ECA) in its annual Declaration of Assurance (DAS) and Annual Reports. This led to a declared Barroso Commission strategic objective of achieving a ‘positive DAS' by 2009. The proposed solution was ‘integrated internal control’ based on an international reference point within the accounting and auditing professions. The result was a centrally co‐ordinated Commission project aiming to reform management and audit practices within both the Commission and EU member states. This article reports on the ‘positive DAS' and ‘integrated internal control’ policy cycle and explains its agenda‐setting, alternative‐specification, and decisional processes.     

Committee bias in legislatures with a high degree of party cohesion: Evidence from Danish municipalities

The institution of committees in democratic legislatures has for years been said to bias policy making because the preferences of committee members differ from, and are more alike than, those of other legislators due to self‐selection to the committees. Based on an analysis of United States Senate committees, Hall and Grofman suggested in 1990 that the preferences of committee members primarily diverge from, and are more alike than, those of non‐committee members on policy issues that are salient to constituencies or at least to an easily definable segment of constituencies. This article argues that the logic of Hall and Grofman should in fact be reversed in legislatures characterised by highly cohesive parties. Accordingly, the main hypothesis is that in such legislatures the preferences of committee members are more likely to be alike than those of non‐committee members in the committees that work with policy issues of less salience to constituencies. Using a large‐scale comparative design comprising data collected in 2008 on the spending preferences of 1,348 Danish local politicians, evidence is found supporting this hypothesis. This finding points to the importance of considering the role of parties when assessing committee bias.     

THE UNINTENDED CONSEQUENCES OF BEING STOPPED OR ARRESTED: AN EXPLORATION OF THE LABELING MECHANISMS THROUGH WHICH POLICE CONTACT LEADS TO SUBSEQUENT DELINQUENCY

Much debate has taken place regarding the merits of aggressive policing strategies such as “stop, question, and frisk.” Labeling theory suggests that police contact may actually increase delinquency because youth who are stopped or arrested are excluded from conventional opportunities, adopt a deviant identity, and spend time with delinquent peers. But, few studies have examined the mechanisms through which police contact potentially enhances offending. The current study uses four waves of longitudinal data collected from middle‐school students (N = 2,127) in seven cities to examine the deviance amplification process. Outcomes are compared for youth with no police contact, those who were stopped by police, and those who were arrested. We use propensity score matching to control for preexisting differences among the three groups. Our findings indicate that compared with those with no contact, youth who are stopped or arrested report higher levels of future delinquency and that social bonds, deviant identity formation, and delinquent peers partially mediate the relationship between police contact and later offending. These findings suggest that programs targeted at reducing the negative consequences of police contact (i.e., poor academic achievement, deviant identity formation, and delinquent peer associations) might reduce the occurrence of secondary deviance.