Credit enhancement of municipal debt

Abstract: The municipal bond bank (mbb) innovation began in Canada in 1956 and in the United States in 1970. This paper concentrates on why mbbs exist, their characteristics, where they work best, and how they compare with other municipal debt credit enhancement techniques. It concludes with a discussion of the future role these organizations will have in providing long-term capital funding to municipalities in Canada and the United States. Sommaire: Le principe de la Banque d'obligations municipales (BOM) fut introduit en 1956, au Canada et, en 1970, aux États-Unis. Cet article explore la raison d'être des BOMS, leurs caractéristiques, leurs conditions de succés maximum et les compare à d'autres techniques pour rehausser le crédit de la dette municipale. L'article se termine par une discussion sur le rôle que ces organisations auront à l'avenir dam le financement capital à long terme des municipalités au Canada et aux États-Unis.     

Power,throne, and rank

Richard Hoggart has spent all his working life teaching English literature and involved in different ways with cultural studies. He is the author of the seminal book The Uses of Literacyand most recently of Townscape with Figures: Farnham—reviewed in this issue of SOCIETY.     

The measurability of budget related rent-seeking

It has been suggested that the extent of rent-seeking expenditures arising from attempts to influence budget allocations should be estimated by the absolute magnitude of the observed changes in allocation. Instead, we argue that it is the extent of theex ante prospective changes that determine the level of rent-seeking, and that in the presence of countervailing activity these may be quite unrelated to the ex post observed values. We further argue that the traditional rent-seeking model of competition for a pre-specified rent is inappropriate in this context.     

Construct accessibility and electoral choice

Chronic accessibility refers to a long-term bias to notice, process, and have available for recall certain types of information across a variety of different stimulus objects in a variety of different situations. This paper illustrates the usefulness of studying the chronic accessibility of political constructs in the field of political behavior. The chronic accessibility of four generic political constructs are operationalized: candidates, issues, groups, and parties. The accessibility of these four political constructs is shown to be relatively stable over time and to guide the processing of information about a wide variety of political objects. Next, a voting model is tested that identifieswhich voters will rely chiefly on issue orientations, group orientations, candidate orientations, and/or party orientations in making their vote decision. The voting model is validated across two distinct ways of operationalizing the political chronicities and three different election studies spanning a 28-year period. Finally, although this paper has focused onindividual political behavior, several ways that an information processing approach could shed light on macrolevel political questions are discussed.     

Democratic decentralization or political consolidation: The case of local government reform in Karnataka

In 1987 the Indian State of Karnataka implemented panchayat reform legislation. The ideological orientation of the Janata Government's reforms is considered, together with the question of whether stronger local government in India increases the state's autonomy within the federation. The Karnataka reforms are expected to be significantly different from the reforms enacted in other states. Participation by marginalized groups may assist the Janata party in incorporating them into its network of patronage. Local level planning has been made more effective. The legislation gives the zilla parishad control over the line departments of the State Government. Administrative power is likely to experience increased local political direction. However the financial independence of the zilla parishad is by no means assured. The final outcome will also depend upon the attitude towards the reform of the Congress Party, anxious about its power base in the Karnataka countryside.     

B. Reviews: general

AN INTRODUCTION TO ISLAM. By GERHARD ENDRESS. Translated by CAROLE HILLENBRAND. Edinburgh, Edinburgh University Press, 1988. ix + 293pp. H/B £29.95, P/B £9.50.

A HISTORY OF ISLAMIC SOCIETIES. By IRA M. LAPIDUS. Cambridge, Cambridge University Press, 1988. 1002pp. £35.00.

THE GREAT POWERS AND THE MIDDLE EAST 1919–1939. Edited by URIEL DANN. (Collected Papers Series of the Dayan Centre for Middle Eastern and African Studies, Tel Aviv University.) New York and London, Holmes and Meier Publishers, Inc., Africana Publishing Company, 1988. 434pp. $59.50 cloth.

THE RENTIER STATE. Edited by HAZEM BEBLAWI and GIACOMO LUCIANI. London, Croom Helm for Istituto Affari Internazionali, Rome, 1987. 240pp.

DEVELOPMENT, ADMINISTRATION AND AID IN THE MIDDLE EAST. By GERD NONNEMAN. London and New York, Routledge, 1988. 203pp. Figures, tables. £25.00.

DOMESTIC POLITICS AND REGIONAL SECURITY: JORDAN, SYRIA AND ISRAEL. THE END OF AN ERA? By VALERIE YORKE. Aldershot, Brookfield ISA, Hong Kong, Singapore, Sydney, Gower. 1988. Published for the International Institute for Strategic Studies. 432pp. £35.00

THE BIRTH OF THE PALESTINIAN REFUGEE PROBLEM. By B. MORRIS. Cambridge, Cambridge U.P., 1988. 400pp. £30.00.

ETHNIZITÄT UND MACHTKONKURRENZ IN INTER‐ARABISCHEN BEZIEHUNGEN: DER SYRISCH‐IRAKISCHE KONFLIKT UNTER DEN BA'ATH‐REGIMEN. By EBERHARD KIENLE. Berlin, Verlag Das Arabische Buch, 1988. 63pp.

THE SHATT‐AL‐ARAB BOUNDARY QUESTION: A LEGAL REAPPRAISAL. By KAIYIN HOMA KAIKOBAD. Oxford, Clarendon Press, 1988. xix, 142pp. 10 maps and figures, table of legal cases. £25.00.

IRAN AND IRAQ AT WAR. By S. CHUBIN and C. TRIPP. London, I.B. Tauris, 1988. 328pp. £19.50.

THE ARAB GULF AND THE ARAB WORLD. Edited by BRIAN R. PRIDHAM. London, Croom Helm, 1988. xv, 302pp. £35.00.

THE GULF COOPERATION COUNCIL: RECORD AND ANALYSIS. By R.K. RAMAZANI. Charlottesville, University Press of Virginia, 1988. 256pp. $45.00.

SAUDI ARABIA IN THE OIL ERA—REGIME AND ELITES: CONFLICT AND COLLABORATION. By MORDECHAI ABIR. London, Croom Helm, 1988. xix, 247pp. £25.00.

THE IMAMATE TRADITION OF OMAN. By J.C. WILKINSON. Cambridge, Cambridge University Press, 1987. xii, 415pp. £40.00.

MUSADDIQ, IRANIAN NATIONALISM AND OIL. Edited by JAMES A. BILL and ROGER LOUIS. Austin, University of Texas Press & London, Tauris, 1988. 358pp.

STATE, DEMOCRACY AND THE MILITARY: TURKEY IN THE 1980s. Edited by METIN HEPER and AHMET EVIN. Berlin and New York, Walter de Gruyter, 1988. 265pp.

WHAT IS TO BE DONE: THE ENLIGHTENED THINKERS AND AN ISLAMIC RENAISSANCE. By ALI SHARI'ATI. Edited and annotated by FARHANG RAJAEE; Foreword by JOHN L. ESPOSITO. Houston, Texas, Institute for Research and Islamic Studies, 1986. xix, 181pp. $25.95 (hardback), $11.95 (paperback).

THE QUR'AN IN ISLAM: ITS IMPACT AND INFLUENCE ON THE LIFE OF MUSLIMS. By ‘ALLAMAH SAYYID M.H. TABATABA'I. Translated by ASSADULLAH AD‐DHAAKIR YATE; Foreword by SEYYED HOSSEIN NASR. London and Blanco, Texas, Zahra Publications, 1987. 118pp. $14.95.

ISLAMIC SPIRITUALITY: 1. FOUNDATIONS. Edited by SEYYED HOSSEIN NASR. (World Spirituality; an Encyclopedic History of the Religious Quest, vol. 19.) London, Routledge and Kegan Paul, 1987. xxix, 450pp. 35 monochrome illustrations. £39.50.

THE MANTLE OF THE PROPHET: RELIGION AND POLITICS IN IRAN. By ROY MOTTAHEDEH. Harmondsworth, Middlesex, Peregrine Books, 1987. 418pp. £6.95.

EL PALACIO OMEYA DE AMMAN I. LA ARQUITECTURA. By ANTONIO ALMAGRO GORBEA. Madrid, Instituto Hispano‐Arabe de Cultura, 1983. 207pp., including an English and an Arabic summary (30pp., unnumbered), 63 plates, 52 figures, 39 loose‐leaf drawings.     

B. Reviews: general

i. SHADOWS ON THE SAND: THE MEMOIRS OP SIR GAWAIN BELL. By (SIR) GAWAIN BELL. London, C.Hurst/New York, St Martins, 1983. pp.xiv, 258, 2 maps and index. El3.50.

ii. THE SUDAN MEMOIRS OF CARL CHRISTIAN GIEGLER PASHA. Edited by RICHARD HILL. Translated from the German by THIRZA KÜPPER. With a foreword by the Pasha's great‐granddaughter, HEIDI GROHA. Oxford, Oxford University Press (for the British Academy), pp. xxxii, 231, 3 maps, 12 plates. £18.00.

iii. EGYPT IN THE REIGN OF MUHAMMAD ALI. By AFAF LUTFI AL‐SAYYID MARSOT. (Cambridge Middle East Library) Cambridge, Cambridge University Press, 1984. pp.x, 300. £25.00.

iv. URBAN NOTABLES AND ARAB NATIONALISM: THE POLITICS OF DAMASCUS. By PHILIP S. KHOURY. (Cambridge Middle East Library) Cambridge, Cambridge University Press, 1983. pp.153, 2 maps.

v. VICTIMS OF A MAP. Translated by ABDULLAH AL‐UDHARI. London, Al‐Saqi Books, 1984. pp.165. £4.95.

vi. PALESTINE AND MODERN ARAB POETRY. By KHALID A. SULAIMAN. London, Zed Books Ltd., 1984. pp.240. £6.95.

vii. L'ARABIE DU SUD: HISTOIRE ET CIVILISATION. By JOSEPH CHELHOD and others. Paris, Maisonneuve & Larose, 1984. pp.264. 21 illustrations, maps, tables. FF 94.

viii. THE TWO YEMENS. By ROBIN BIDWELL. Harlow (UK), Longman/Boulder (USA), Westview. 1983. pp.350.

ix. BAHRAIN AND THE GULF: PAST PERSPECTIVES AND ALTERNATIVE FUTURES. Edited by JEFFREY B. NUGENT and THEODORE H. THOMAS. London, Croom Helm, 1985. pp.221, 26 tables, 4 figs., bibliography. £16.95.

x. THE ARABS. New Edition. By PETER MANSFIELD. Harmondsworth, Penguin, 1985. pp.510, map, index. £4.95/$6.95.

xi. THE EVOLUTION OF MIDDLE EASTERN LANDSCAPES: AN OUTLINE TO AD 1840. By J.M. WAGSTAFF. London, Croom Helm, 1983. pp.304, 459 maps and figs., 5 tables.

xii. THE GREEK MINORITY OF ISTANBUL AND GREEK‐TURKISH RELATIONS 1918–1974. By ALEXIS ALEXANDRIS. Athens, Centre for Asia Minor Studies, 1983.

xiii. SEX AND SOCIETY IN ISLAM: BIRTH CONTROL BEFORE THE NINETEENTH CENTURY. By B.F.MUSALLAM. (Cambridge Studies in Islamic Civilizations). Cambridge, Cambridge University Press, 1983. pp.ix, 176. £17.50.

xiv. TOWARDS A JUST MONETARY SYSTEM. By MUHAMMAD U. CHAPRA. Leicester (UK), The Islamic Foundation, 1985. pp.292. £10.00 (hardback); £4.75 (paperback).

xv. INSURANCE IN AN ISLAMIC ECONOMY. By MUHAMMAD NEJATULLAH SIDDIQUI. Leicester (UK), The Islamic Foundation, 1985. £5.50 (hardback); £2.00 (paperback).

xvi. PARTNERSHIP AND PROFIT SHARING IN ISLAMIC LAW. By MUHAMMAD NEJATULLAH SIDDIQUI. Leicester (UK), The Islamic Foundation, 1985. pp.111. £6.50 (hardback); £2.25 (paperback).

xvii. THE IMMORTAL ATATURK: A PSYCHOBIOGRAPHY. By VAMIK D. VOLKAN and NORMAN ITZKOWITZ. Chicago‐London, Chicago University Press, 1984. pp.xxv, 374. £34.50.

xviii. TURKEY. MERI REPORT. Compiled by MIDDLE EAST RESEARCH INSTITUTE. London, Croom Helm, 198 3. pp.181. £35.00

xix. BORDER AND TERRITORIAL DISPUTES. Edited by ALAN J.DAY. (A Keesing's Reference Publication). Harlow, Longman, 1982. pp.406, 44 maps. £45.00

xx. ‘IF ONLY MY PEOPLE...’ By IMMANUEL JAKOBOVITS. London, Weidenfeld & Nicolson, 1984. pp.288.

xxi. L'IMPRIMERIE ARABE EN OCCIDENT (XVIe, XVIIe XVIIIe SIÈCLES). By JOSÉE BALAGNA. (Islam & Occident, 2.) Paris, Maisonneuve & Larose, 1984. pp.153. 68F.