How Did the Spanish Financial System Survive the First Stage of the Global Crisis?

This article analyzed the impact of the global crisis on the Spanish financial system between 2008 and 2010. It shows that, overall, the performance of the largest Spanish financial institutions was positive. The article examined why, and outlined some lessons. It contendedthat this response was largely driven by institutional, political, and cultural factors. At the same time, the article showed that as the crisis intensified, Spain's banking sector could not escape its dramatic effects. Deteriorating economic conditions, the implosion of the real estate market, the dependence on wholesale funding, weaknesses in the regulatory framework, and the role of the Bank of Spain all helped to explain this reversal. Finally, the article considered the Spanish experience within the framework of the varieties of capitalism literature. It showed that differences among financial systems persist. Indeed, in Spain, the crisis has led to extensive regulatory intervention, reinforcing the preexisting model.     

Is Realism Dead? Academic Myths and Asia's International Politics

The author contends that prominent strands in the recent literature on Asia's international relations reflect a lack of appreciation for the actual policy of regional states, which is deeply realist in orientation.     

Why the Electoral College is good for political science (and public choice)

While the Electoral College may not be good for the political system, it is very good for political science (and public choice). This essay documents many of the ways in which this assertion is true.     

Green Politics,Green and Orange Diplomacy: Lyndon Johnson and Eamon de Valera's Farewell Tour of the United States

Ireland had significant pull in domestic American politics, but was a minor power in world affairs. The Irish influence was inverse to the relationship the United States had with the United Kingdom. In 1964, these political and diplomatic factors converged when Eamon de Valera, the American born President of the Republic of Ireland, made one last tour of the United States. Lyndon Johnson used the trip to his political advantage without harming the relationship the United States enjoyed with the United Kingdom. Johnson showed a skillful touch in both the diplomacy and politics that went along with this visit, challenging dominant views about his competence in this area.     

Evidence and Implications of Non-Tradability of Food Staples in Tanzania 1983-98

Economic reform programmes assume that major goods are tradable, such that depreciation of the real exchange rate raises the value of output compared to factor costs in domestic currency. In Tanzania, major food staples that account for most real income are non-tradables in at least one-quarter of the country. This conclusion is demonstrated and the implications are assessed for the constraints imposed on macroeconomic-led adjustment strategies.