Renewing IMF surveillance: Transparency, accountability, and independence

In this paper, we present a vision for IMF surveillance that seeks to produce a more accountable, transparent, and independent surveillance process. First, to make surveillance more focused, the IMF’s assessment should be principles-based; that is, the Fund should assess the overall coherence of exchange rate, monetary, fiscal and financial policies, with a view to analyzing their effects on external stability. Second, the IMF should have a governance structure that increases incentives to support candid, transparent assessments of surveillance. In practice, this entails a different role for the Executive Board: the Board will set out the Fund’s strategic framework for surveillance; the Managing Director and the staff will conduct surveillance. These reforms clarify the roles and responsibilities of the IMF and its member countries in the surveillance process. Also, our proposed reforms aim at making surveillance more even-handed and objective. We believe that this principles-based approach can bolster the credibility and legitimacy of surveillance, giving the Fund greater influence on the economic policies of members.

The Governance of Blockchain Financial Networks

Since the emergence of the virtual currency Bitcoin in 2009, a new, Internet‐based way of recording entitlements and enforcing rights has increasingly captured the interest of businesses and governments. The technology is commonly called ‘blockchain’ and is often associated with a closely related phenomenon, the ‘smart contract’. The market is now exploring ways of using these concepts for financial assets, such as securities, fiat money and derivative contracts. This article develops a conceptual framework for the governance of blockchain‐based networks in financial markets. It constructs a vision of how financial regulation and private law should set the boundaries of this new technology in order to protect market participants and societies at large, while at the same time allowing the necessary room for innovation.     

The flip side of power

Public Choice - In random voting, the committee chair, whose vote decides in the case of a draw, is more often decisive than ordinary voters. Therefore, in the power indices literature, the...     

Cable ties used as tool in homicide: relevance of the DNA analysis

An investigation of strangulation tools often reveals DNA of the victim. In some cases, DNA of the suspect can also be demonstrated, even in strangulation tools with a smooth surface like cables. The authors report a case of strangulation of two victims with cable ties. In addition, several used and unused cable ties were found at the crime scene. The DNA analysis detected DNA of the victims, but also genomic and mitochondrial DNA of various other persons not knowingly involved in the crime. Experiments with unused cable ties revealed that even a single handling of a cable tie may leave DNA traces. An enquiry of the companies selling cable ties showed that the cable ties are manually handled, so that foreign DNA must always be expected.     

The rule of law ‐ meaning and significance for security policy and reform

Given Russia's history of legal expediency and the emphasis of Western policy on economic liberalization, it is not surprising that Russian reforms have yet to produce a functioning market economy and effective political institutions, including civil‐military control. A Western‐style economic and military model is fundamentally built on the rule of law as a supreme and impartial tool of conflict resolution and distribution of rights and power. Without it, government action cannot be predicted, destroying trust in the institutions and denying private and public activity a basis for long‐term planning which is based on trust and predictability. Without long‐term planning neither companies nor armies can be successful, giving rise to a pseudo‐legal state of de facto laws. For its economic, political and military reforms to be successful Russia needs to emphasize the building of the institutions for developing and predictably enforcing a set of laws, an effort that needs to receive priority support from Western partners.     

Progressive taxation and tax morale

Due to strong evidence indicating that tax morale affects actual tax-paying behavior, finding the determinants of tax morale could help both to understand and to fight tax evasion. In this paper we analyze the effect of progressive taxation on individual tax morale using a cross-country approach—a research question that has not been investigated in the existing literature. Our theoretical analysis leads to two testable predictions. First, an individual’s tax morale is higher, the more progressive the tax schedule is. Second, the positive impact of tax progressivity on tax morale declines with income. In our empirical analysis we make use of a unique dataset of tax progressivity measures, namely the World Tax Indicators, and follow most of the tax morale literature by employing the World Values Survey to measure individual tax morale. Controlling for a wide range of potential confounders, we are able to confirm both hypotheses in our empirical analysis.     

Private Governance and the South: lessons from global forest politics

Abstract

Private governance beyond the state is emerging as a prominent debate in International Relations, focusing on the activities of private non-state actors and the influences of private rules and standards. However, the conceptual framework of governance has until recently been employed predominantly with reference to the oecd world. Despite this restricted view, a growing number of processes, organisations and institutions are beginning to affect developing countries and new institutional settings open up avenues of influence for actors from the South. In the context of a lively debate about global governance and the transformation of world politics, this article asks: what influences does private governance have on developing countries, their societies and their economies? What influence do southern actors have in and through private governance arrangements? I argue that we can assess the specific impacts of private governance, as well as potential avenues of influence for actors from the South, with regard to three functional pathways: governance through regulation, governance through learning and discourse, and governance through integration. Focusing in particular on private governance in the global forest arena, I argue that, while southern actors have not benefited so much economically from private certification schemes, they have been partially empowered through cognitive and integrative processes of governance.     

Aktuelle Rechtsprechung zum ElektroG

Das deutsche “Gesetz über das Inverkehrbringen, die Rücknahme und die umweltvertr?gliche Entsorgung von Elektro- und Elektronikger?ten” (ElektroG) ist eines der auf europ?ischen Vorgaben beruhenden Rechtsinstrumente zur Vermeidung und Entsorgung von Abf?llen. In letzter Zeit sind hierzu eine Reihe von h?hergerichtlichen Urteilen ergangen, so dass bisher bestehende Unsicherheiten über die Reichweite der Registrierungspflicht beseitigt, sowie mehr Klarheit bei der Gruppenfinanzierungsverantwortlichkeit geschaffen wurde.