The International Monetary Fund: A review of the recent evidence

A review of recent quantitative studies on the International Monetary Fund reveals that much of the conventional wisdom is incorrect. Recent studies have demonstrated a new degree of methodological rigor, have drawn more heavily upon insights from political science, and have asked a number of new questions. We review studies of participation in IMF programs, design of IMF conditionality, implementation and enforcement of IMF conditions, conventional program effects and catalytic effects. At every stage, we find substantial evidence of the influence of major IMF shareholders, of the Fund’s own organizational imperatives, and of domestic politics within borrowing countries. We conclude that very little is known with certainty about the effects of IMF lending, but that a great deal has been learned about the mechanics of IMF programs that will have to be taken into account in order to obtain unbiased estimates of those effects.

Operational oceanography in Indonesia

In 2005 Indonesian and European institutes joined to start the first step for the implementation of an Ocean Operational System in the Indonesian archipelago. The system will support the decision making process for the sustainable use of marine resources, providing useful information and added value products as well as a service for an improved management of the sea with high business impact to targeted groups as public authorities and commercial operators (coastal managers, fishermen, shipping companies). In this paper the System is shortly described with its potential benefits and economic and social impacts.

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Trending economic factors and the structure of Congress in the growth of government, 1930–2002

We investigate the role of Congress in the growth of federal public expenditure since 1930, building on the work of Kau and Rubin (Public Choice, 113:389–402, 2002). The model incorporates majority party strength and the extent of party control of Congress in addition to the median ideological position of elected representatives. We first provide estimates of the relative importance of the state of Congress and of trending supply and demand-side economic factors in the evolution of federal spending. The resulting models are then used to simulate the consequences of the radical and historically unprecedented shift to the right of Congress in 1994/95.     

Debt,democratization, and development in Latin America: How policy can affect global warming

The environmental Kuznets curve (EKC) hypothesis conjectures a nonlinear relationship between pollution and economic growth, such that pollution per capita initially increases as countries economically develop, but then reaches a maximum point before ultimately declining. Much of the EKC literature has focused on testing this basic hypothesis and, in studies that find evidence of an EKC, estimating the “turning point” level of development at which the per capita pollution‐growth relationship changes sign. This approach has not emphasized the policy relevance of specification issues or the potential role of policy variables. This research explores a modified EKC specification which conditions the pollution‐growth relationship on a country's level of debt and degree of democratization. These variables turn out to be significant, implying that different political and economic contexts can shift EKCs and their turning points. These findings suggest that policies to relieve debt burdens and institute political reform, in addition to their usual justifications, also could be used as a strategy to reduce carbon emissions from developing countries. © 2008 by the Association for Public Policy Analysis and Management.     

China's Future Economic Regionalization

This paper investigates China's economic growth potentials and limitation up to 2020 and recommends a trend of economic regionalization. A sustainable growing economy is a necessity for China's future stability. The growth sustainability of the Chinese economy depends essentially on its continued commitments to institutional reform and economic deregulation. China's relaxation of government intervention in economic activities has led and will be leading China to decentralize its central governmental authority over economic planning and control. This will consequently stimulate the emergence of regional economies in Mainland China. In the next two decades, there will likely be 10 regional economies with relatively independent industrial structures emerging in Greater China (or the Chinese Economic Area of Hong Kong, Macao, Taiwan and the Mainland) as a result of economic liberalization and decentralization.     

Mortgaging Security for Economic Gain: U.S. Arms Policy in an Insecure World

Similar to other consumer sectors of the global economy, the transfer of advanced conventional weapons and military technologies has entered the globalization process, a process that has qualitatively and quantitatively altered the composition and structure of U.S. national security policymaking. By injecting the decisionmaking process governing arms transfers into the global market place, U.S. policy makers must now reconcile maintaining economic competitiveness within the global system without jeopardizing U.S. national security interests. By subordinating national security interests to global economic imperatives, U.S. decisionmakers are at risk of mortgaging the political, societal, and security welfare of its citizenry for profit.