Global custody of endowment funds

This article explores the law relating to the global custodianship of funds, notably as managed for endowed charities such as universities and independent schools. Is global custody based on the legal concept of bailment or of trusts? Just how secure are the legal underpinnings of this financial mechanism? The conclusions are that the legal foundations to the concepts of custodianship, and especially on a global level with the appointment of sub-custodians, is surprisingly uncertain and confused in English Law, providing rather less reassurance to charity trustees concerning the security of the financial assets for which they are accountable than they might reasonably have expected.     

Making Sense of COMPSTAT: A Theory-Based Analysis of Organizational Change in Three Police Departments

COMPSTAT, the latest innovation in American policing, has been widely heralded as a management and technological system whose elements work together to transform police organizations radically. Skeptical observers suggest that COMPSTAT merely reinforces existing structures and practices. However, in trying to assess how much COMPSTAT has altered police organizations, research has failed to provide a broader theoretical basis for explaining how COMPSTAT operates and for understanding the implications of this reform. This article compares two different perspectives on organizations—technical/rational and institutional—to COMPSTAT's adoption and operation in three municipal police departments. Based on fieldwork, our analysis suggests that relative to technical considerations for changing each organization to improve its effectiveness, all three sites adopted COMPSTAT in response to strong institutional pressures to appear progressive and successful. Furthermore, institutional theory better explained the nature of the changes we observed under COMPSTAT than the technical/rational model. The greatest collective emphasis was on those COMPSTAT elements that were most likely to confer legitimacy, and on implementing them in ways that would minimize disruption to existing organizational routines. COMPSTAT was less successful when trying to provide a basis for rigorously assessing organizational performance, and when trying to change those structures and routines widely accepted as being "appropriate." We posit that it will take profound changes in the technical and institutional environments of American police agencies for police departments to restructure in the ways anticipated by a technically efficient COMPSTAT.     

Intellectual Property Theft and Organized Crime: The Case of Film Piracy

This article seeks to understand the processes by which the crime of intellectual property theft is organized, with specific attention given to film piracy. It seeks to identify the structure and function of the criminal enterprises engaged in this crime and assess the degree to which organized crime is involved with film piracy. An analysis of available sources reveals that general conclusions about the relationship of organized crime to film piracy results from a lack of useable and verifiable information in media, government, and industry sources. In the absence of independent, substantive analysis, anecdote and industry interests currently drive public policies and legal developments created to address the role of organized crime in film piracy. In the United States and across the globe, seizures, criminal indictments, civil actions, and public awareness are up considerably. Whether or not these advances can be maintained in the face of technological advances, the evolution of industry economic structures, and consumer indifference to the stigma of intellectual property theft and concern at industry response to such theft remains to be seen. Specific recommendations for future research are offered. The author would like to thank the International Center of the National Institute of Justice for soliciting funding this research through a grant, Intellectual Property and Organized Crime. He also Thanks Jay S. Albanese and his the anonymous reviewers of this work for their helpful comments and criticisms. This article only reflects the findings of the author, not the National Institute of Justice, Dr. Albanese or the reviewers.     

Reassessing the Effect of Economic Growth on Well-being in Less-developed Countries, 1980–2003

Development debates have been greatly influenced by the growth consensus: the conventional wisdom that economic growth should be the primary priority for less-developed countries (LDCs) because it most effectively improves the well-being of the world’s poor. We compare the impact of growth to other independent variables in an unbalanced panel analysis of up to 109 LDCs and 580 observations across six time points (1980, 1985, 1990, 1995, 2000, and 2003). Our dependent variables include caloric consumption, infant survival probability, one-to-five year survival probability, female life expectancy, and male life expectancy. First, we find that gross domestic product (GDP) has significant positive effects on caloric consumption, female life expectancy, and male life expectancy. Second, GDP does not have robust effects on infant and one-to-five survival probabilities. Third, fertility, urbanization, and secondary school enrollment have larger effects than GDP in the majority of models. The more powerful effects of fertility, urbanization, and secondary schooling cannot simply be attributed to an indirect effect of GDP. Fourth, we find that dependency variables do not have robust significant effects. Fifth, over time, GDP has become much less effective at improving caloric consumption and infant and one-to-five survival. We infer that there are serious limitations to concentrating exclusively on economic growth to improve well-being in LDCs.     

Managing the Environment: Rhetoric, Policy and Reality

This article argues that, despite environmental issues climbing higher on the political agenda and considerable recent policy activity, rhetoric is not matched by reality in our efforts to manage the Australian environment. We integrate the imperatives emerging from the policy and sustainability literatures and from actual policy, with detailed work on wildlife conservation in Victoria's Central Highlands. Our analysis demonstrates that, rather than undertaking the more intensive policy and 'adaptive management' that is needed, governments are often doing less and may actually be 'taking their hands of their wheel'. Some public policy and administration implications of the emerging policy field of sustainability are illustrated.