Hans Georg Ruppe – 65 Jahre

Ohne Zusammenfassung     

Mutuality and competition: Female landless labour and wage rates in Tamil Nadu

The factors determining rural wage rates have remained problematic in writings on agrarian structure in rural India. First, a striking segmentation of the rural labour market has been widely noted so that different wage rates exist even for contiguous villages. Secondly, it has been argued that the ‘stickiness downwards’ of wage rates, particularly the rigidity downwards of daily money wages, is very marked and is not susceptible to explanation in terms of conventional economic theories. A useful approach by Rudra to these two problems is examined here and it is suggested that the striking contrasts that emerge between his model (based on Bengali data) and the Tamil model presented here show that it is essential to incorporate a micro‐level anthropological approach in order to understand rural wage rate determinants. There can be no pan‐Indian model: only through micro‐level approaches can researchers understand the importance of complex socio‐cultural contexts to the ways in which wage rates are formed and changed.     

On security of collateral in Danish mortgage finance: a formula of property rights,incentives and market mechanisms

Specialized mortgage intermediaries in Denmark have for over 200 years provided owners and buyers of real property wide access to credit. The present paper sets out to explore the safeguards that nurtured development of a robust, market based financing system and a deep mortgage market. Observations are made on the nature of collateral performance in respect to property rights, mortgage law and market development in search of general features of required institutional arrangements. The robustness of the Danish mortgage finance system is largely accredited to the securitization model based on the balance principle that assigns risks and responsibility to market players in a self-disciplinary manner and protected the mortgage banks against cash flow mismatches even during deep crisis, as history attests. It is shown how property registers and effective enforcement have created transparent property rights and practically reduced legal risks of mortgaging to zero. Standardization and scale of economics supported collateral efficiency, as measured in terms of simplicity, transparency, rapidity and costs. The Danish mortgage finance system illustrates the critical role of government in insuring the quality and enforceability of mortgage collateral, and reducing uncertainty for market players throughout the entire process. The paper suggests that sound incentive structures of the securitization model, strong commitment mechanisms and the market mechanisms constituted a complex formula of safeguards that—rather than specific capital coverage requirements—created the preconditions required for a well-functioning mortgage market.     

Transitions through Out-of-Keeping Acts

Within a negotiation, when an act by one party is out-of-keeping with the previous moves and underlying logic of the interaction, the act and those that follow hold the potential for creating a transition to a new logic of interaction. In this paper, we investigate the presence and role of seven distinct types of transitions resulting from out-of-keeping acts across ten complex legal negotiations. The data reveal that a critical feature differentiating across the types is the abruptness/gradualness of the transition. We explore the combination of relational, informational, and procedural acts comprising the transitions and find that all three components are present across transitions, but in different proportions and orders. Understanding the role of out-of-keeping acts in negotiations facilitates a more complete picture of the microprocesses involved in the creation of critical moments in negotiations.     

Representative Government and Network Governance – In Need of 'Co-governance': Lessons from Local Decision Making on Public Schools in Denmark

The article argues for the importance of reconciling the institutions of representative government and network governance by means of a combined structure of 'co-governance', and the need for elected politicians in a role as co-governing guardians of democracy in network governance. Based on an examination of two different cases of interactive governance within the field of school reform at the local level in Denmark, some lessons are drawn as to an appropriate new role for elected politicians in a structure of co-governance.     

Back‐pedalling in Iraq: lessons unlearned

This article analyses which of the major lessons learned from previous experiences in nation building have been applied or ignored in Iraq. It focuses on the first six months of the post‐combat period, a time frame generally recognised as being critical for laying the foundations for a stable and democratic future. A review of previous cases points to six lessons that, in fact, have been unlearned, and only two that have been realised in this initial phase in Iraq.     

Loan only credit default swaps the story so far

The first 150 words of the full text of this article appear below. Key points

• The market for Loan Only Credit Default Swaps (LCDS)is expected to develop rapidly, but the market documentationfor this product is proving to be a difficult issue as a resultof differing views by users of the product and divergent approachesbetween the US and European markets.
• The International Swapsand Derivatives Association, Inc. (ISDA) has, on 4 May 2007,released a long-awaited revised draft of the European LCDS.The finalization of this draft is not far off, but certain importantissues are yet to be finalized.
• Rather than speculate on theoutcome of such discussions, this article looks at the developmentof the European LCDS market, the motivation and needs of itsparticipants and takes stock of the European documentation beforeit underwent the recent almost year-long consultation process.It therefore compares the European LCDS of May 2006 againstthe US LCDS of June 2006 (ignoring . . . [Full Text of this Article]