Fiscal Institutions,Credit Ratings,and Borrowing Costs

This paper investigates the impact of fiscal institutions on state government borrowing costs. We find that institutions have both a direct and indirect effect on interest costs paid by state governments. Revenue limits are associated directly with higher interest costs; expenditure limits, stricter balanced budget rules, and restrictions on state debt issuance are indirectly associated with lower interest costs because they lead to higher credit ratings. It appears that investors and bond raters incorporate information on fiscal institutions into their assessment of state government credit quality.     

Rereading the Public: Isolationism and Internationalism Revisited

This is the first installment in what we hope will be a recurring series of Forums in ISP. In each segment we intend to provide an outlet for peer-reviewed dialogue and debate on important topics in the field and to allow our readers to discuss material previously printed in the pages of ISP. Below are two comments on "Challenging U.S. Policymakers' Image of an Isolationist Public" by Steven Kull and Clay Ramsay published in ISP 1:1. Both comments raise a number of important issues pertaining to the relationship of public opinion and foreign policy, and also address more general questions of domestic impact on foreign policy outputs and several significant methodological questions about approaches to polling. The Forum begins first with comments by Richard Clark and Kenneth Dautrich, is followed by comments from Shoon Murray, and concludes with a response from Kull and Ramsay.     

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.     

Development of a Validity Scale for the Dissociative Experience Scale-Revised: Atypicality,Structure, and Inconsistency

Psychological Injury and Law - The Dissociative Experiences Scale (DES), the most commonly used scale for assessing dissociation across settings, lacks a validity scale. In this study, six methods...     

Does Reacting to the Past Increase Student Engagement? An Empirical Evaluation of the Use of Historical Simulations in Teaching Political Theory

Within the teaching of political theory, an assumption is emerging that Reacting to the Past simulations are an effective tool because they encourage greater student engagement with ideas and history. While previous studies have assessed the advantages of simulations in other political science subfields or offered anecdotal evidence of their effectiveness in political theory courses, less attention has been paid to the empirical assessment of simulations in political theory. This study uses data — in the form of presimulation and postsimulation surveys, as well as focus groups — collected from two political theory courses in order to gauge levels of student engagement inside and outside of the classroom. We ask if students’ levels of engagement increase during the simulation in their political theory courses. We also explore the mechanisms involved in driving higher levels of student engagement during the simulation. We conclude by arguing that it is the liminal nature of the Reacting to the Past simulations that most likely explains increased levels of student engagement.     

Public Perceptions of Income Inequality in Hong Kong: trends,causes and implications

This article examines the patterns and changes in public perceptions of domestic income inequality in Hong Kong in the past two decades and explains individual variations in these perceptions. It found that the perceived seriousness of income disparities had been persistently high, while the perceived unjustness of income disparities showed a fluctuating trend. Our findings lent partial support to the structural position thesis that the privileged groups are less likely than the underprivileged groups to consider existing income disparities to be serious and unjust. Nonetheless, the popular understanding of poverty is still biased towards ‘individual’ explanations, and this perhaps explains why the government is less willing to tackle the economic and political foundations of poverty in Hong Kong.     

Exchange Rate Pass-Through to Consumer Prices in South Africa: Evidence from Micro-Data

Abstract

A sizeable literature examines exchange rate pass-through to disaggregated import prices, but few micro-studies focus on consumer prices. This article explores exchange rate pass-through to consumer prices in South Africa, for 2002–2007, using a unique data set of highly disaggregated data at the product and outlet level. The empirical approach allows pass-through to be calculated over various horizons for different goods and services. The heterogeneity of pass-through for food sub-components is considerable. Switches between import and export parity pricing of maize are found significant for five out of ten food sub-components. Using actual weights from the CPI basket, overall pass-through to the almost 63 per cent of the CPI covered is about 30 per cent after two years, and higher for food.     

Intellectual Property,Access to Medicines,and Health: New Research Horizons

In this introduction, we review the literature on intellectual property rights and access to medicines, identifying two distinct generations of research. The first generation analyzes the origins of new intellectual property rules, in particular the World Trade Organization’s Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), and the significance of TRIPS to developing countries. The second generation examines national-level experiences, as countries adjust their laws and practices to conform to TRIPS. Based on the insights provided by the articles in the special issue, we contribute to the second generation by considering a pair of overarching sets of issues. First, we highlight the domestic political challenges that affect how countries go about implementing their new obligations under TRIPS. We argue that alliances and coalitions are necessary to underpin the use of policy instruments designed to conform to TRIPS while taking into account local conditions and needs, and we present insights that allow us to understand why alliances and coalitions are difficult to construct and sustain in this area. Second, we explain why policies that many countries adopt in response to TRIPS often do not generate their desired or intended outcomes. In the last section of the introduction, we review the articles that appear in this special issue.