A Political Economy Forecast for the 2005 British General Election

Recently, we proposed an original statistical model for forecasting general elections in the United Kingdom, based on the observation of a few key indicators of the political and economic system. That vote function model was tested against the results of the 2001 general election. Here we evaluate the results of that test, and offer an appropriately revised model for the forecasting of the upcoming 2005 general election. According to our forecast, a Labour victory appears the most likely outcome.     

Political Reform in Hong Kong: the Principal Officials Accountability System. The first year (2002–2003)

The new Principal Officials Accountability System (POAS), a proto-ministerial system, was established at the start of the Second Term of Office of the Chief Executive of the Hong Kong Special Administrative Region (HKSAR). This paper examines the setting-up of the POAS and reviews how it has functioned during its first year of life. Both the design and implementation of the POAS were characterized by undue haste. The establishing of the POAS intensified the debate on a range of matters as new ministers, senior civil servants and residents have come to terms with the detail of this novel arrangement. Discussions about political reform are set to intensify in the years to come. This article reviews the origins and deeper need for the POAS in Hong Kong before looking at the fundamentals of the new system. The nature of ‘accountability’ is then discussed prior to examining Hong Kong's experience with the POAS in action during its first year. The article also discusses the potential of the POAS to contribute to Hong Kong's overall political development.     

A Multi-mediation Model on the Relations of Bullying,Victimization, Identity,and Family with Adolescent Depressive Symptoms

This study investigated a multi-mediation model of the relationship between bullying behavior, peer victimization, personal identity, and family characteristics to adolescent depressive symptoms in 194 high school students, 12–18 years of age. In the first model, peer victimization mediated the relation between bullying behavior and depressive symptoms. In the second model, personal identity mediated the relation between peer victimization and depressive symptoms. In the final model, the two mediation models were combined. The relative influence of family characteristics on all variables in the two mediation models was studied using structural equation modeling. The results supported both mediation models and confirmed the influence of family characteristics on all variables in the mediation models. This study indicates that victimization by one’s peers has consequences for adolescents’ psychological health when their personal identity is affected. In addition, the study was able to model several processes in which family characteristics were related to adolescent depressive symptoms. Moreover, the final combined model (in which the two mediation models and the influence of family characteristics on all variables were confirmed) explained half of the variance in adolescent depressive symptoms.

Institutions and Caribbean Economic Performance: Insights from Jamaica

We explore the impact of social institutions on economic performance in Jamaica through a reinterpretation of the plantation economic model. In its original form, the plantation model fails to develop a causal link between the plantation legacy and persistent underdevelopment. Despite its marginalization, the model remains useful for discussions on growth and development. Consequently, we offer a reappraisal using the causal insights from Kenneth Sokoloff and Stanley Engerman. We use two examples to demonstrate how inequality encourages the formation of institutions that are inconsistent with growth, and an empirical analysis to confirm the hypothesized relationship between inequality, institutions, and economic development. Since inequality is expected to influence growth indirectly, we use a structural specification, which follows William Easterly’s recent test of Sokoloff and Engerman’s argument. Our reliance on a time-series specification is unique. We demonstrate that the expectation that, on average, inequality and growth is negatively related and that institutions may compromise growth are accurate for Jamaica, the most cited Caribbean nation in the current discourse. Our results carry several policy implications, including support for the recent calls in Jamaica for political restructuring. However, both the paucity of similar studies and the importance of the implications for sustainable growth and development demand further analyses.

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.