The Conditional Nature of Political Risk: How Home Institutions Influence the Location of Foreign Direct Investment

What determines whether countries' institutions attract or deter investment? Although existing theories predict that multinational enterprises (MNEs) avoid locations where institutions cannot constrain public and private actors' opportunistic behavior, we argue host institutions' attractiveness depends on firms' home environment. Home country institutions shape firms' practices and capabilities, thus helping to determine the environments that firms are best prepared to face abroad. We test our predictions using multiple data sets at different levels of analysis: firm‐level data on MNEs' foreign subsidiaries, data on bilateral foreign direct investment (FDI) positions, and longitudinal data on bilateral FDI flows. We find that states with independent judiciaries are particularly attractive to investment from countries also possessing independent courts. Similarly, countries with low judicial independence disproportionately send FDI to countries lacking independent judiciaries. These findings' implications challenge conventional wisdom: “Good” institutions may not attract all investors, and “bad” institutions may not always deter, as current research suggests.     

Staggered Terms for the US Senate: Origins and Irony

This article provides the first detailed study of the origins of staggered Senate terms, which typically have been interpreted as part of the framers’ intent to create an insulated, stable, and conservative Senate. I draw upon three sources of evidence—the meaning and application of “rotation” in revolutionary America, the deliberations and decisions at the Constitutional Convention, and the arguments during Ratification—to show that the origins of and intentions behind staggered terms offer little support for the dominant interpretation. Instead, staggered terms, a mechanism to promote “rotation” or turnover of membership, were added to the Constitution as a compromise to offset, not augment, the Senate's longer terms by exposing a legislative chamber with long individual tenure to more frequent electoral influence and change.     

On Jordan Peterson,Postmodernism, and PoMo-Bashing

Jordan Peterson says that postmodernists say no interpretation is better than another. I would no sooner identify Peterson’s adversaries as those who have been misled by “postmodernism” than I would identify them as misled by “sustainability,” “diversity,” “multiculturalism,” or “intersectionality.” Such fare is mainly symptomatic. “Postmodern” invocations are often like “sustainability” invocations: inessential. This piece is not a defense of postmodernism. It is a critique of PoMo-bashing.     

British Peace Activism and ‘New’ Diplomacy: Revisiting the 1899 Hague Peace Conference

This analysis provides a re-appraisal of the 1899 Hague Conference by looking more closely at how citizen activists—notably in Britain but also transnationally—used it as a forum through which to press their agenda onto politicians and diplomatists. In so doing, this assembly existed as a stepping-stone between the ‘old’ diplomacy of the nineteenth century and the ‘new’ diplomacy of the twentieth. Peace activists identified and harnessed a growing body of progressive public opinion—on both a domestic and international scale—in the hope of compelling governments to take the necessary steps towards realising their ambitions of peace, disarmament, and international arbitration. Although the tangible outcomes of the 1899 Conference were limited, the precedents it established not only paved the way for further advances in international law, but also facilitated ever closer public and press scrutiny of international affairs into the twentieth century.