Determinants of inflationary performance: Corporatist structures vs. central bank autonomy

Thanks go to John Aldrich, Robert Bates, William Bernhard, Richard Burdekin, Henry Chappel, Dudley Wallace and Thomas Willett for suggestions and to Ted Smith for computational assistance.     

Market Failure and Non-Standard Contracting: How the Ghost of Perfect Competition Still Haunts Antitrust

Modern antitrust policy has a ‘love hate’ relationshipwith non-standard contracts that can overcome market failure.On the one hand, courts have abandoned various per se rulesthat once condemned such agreements outright, concluding thatmany non-standard contracts may produce benefits that are cognizableunder the antitrust laws.¹ The prospect of such benefits, itis said, compels courts to analyze these agreements under theRule of Reason, under which the tribunal determines whethera given restraint enhances or destroys competition.² At thesame time, courts, scholars, and the enforcement agencies haveembraced methods of rule of reason analysis that are undulyhostile to such agreements.³ In particular, courts and othersare too quick to view such agreements and the market outcomesthey produce as manifestations of market power. This articleseeks to explain why these agreements are still the object ofundue hostility.     

Regime transformation from below: Decentralization,local governance,and democratic reform in Nigeria

How realistic are democratic-governance strategies that emphasize local governance as a key component? Using Nigeria’s experience in local government and primary health care in the 1980s and 1990s as a case example, the article finds there were substantial shortfalls in local participation and program performance. These were caused by problems in the local political environment and local institutional design, in the national policy environment (particularly in the funding system), and by the stresses of structural adjustment, resource shortfalls, the natural physical environment, and weak leadership. These combined to create poor and inappropriate reward structures and lack of accountability. However, even though the Nigerian case was not successful, most of the specific problems that hurt it are remediable through policy changes at the national level. Several of these were under consideration at the time of the coups of 1992 and 1993.     

Argentina: Two faces of the small and medium bourgeoisie

Research focused on the socio-economic and political attitudes of the medium and small bourgeois in Argentina during the Alfonsin Presidency. Data reveals clear position critical of the pro-big business orientation of the regime. However because of their shift away from productive activity towards the speculative, because of the increasing dependence on illegal sources of income (the underground economy), the small and medium size bourgeoisie were shifting toward the neo-liberal Right as a means of legalizing their income.     

Candidate Character vs. The Economy in the 1992 Election

The outcome of the 1992 U.S. presidential election has been explained largely as a function of perceptions of George Bush's economic performance. The economy submerged questions about Bill Clinton's character, awarding the advantage to the Democrat. In this article, we evaluate the effect of economic evaluations along with character attacks on candidate support in the 1992 presidential contest. Claims that the economy submerged character have been somewhat exaggerated. But while character remains an important issue in presidential evaluation, its role in judging candidates cannot be taken at face value. We show that both economic evaluations and character judgments are highly politicized. The findings indicate that those protesting Clinton's character turned almost exclusively to Bush. Those protesting Bush's economic record turned to both Perot and Clinton. Still, the economy did not trump character. The troubles of both major party candidates fueled a strong protest vote that contributed to Perot's strong showing.