Reforming China's Stock Market: Institutional Change Chinese Style

In this article we examine the dual-track pricing system in China's stock market since its inauguration, a legacy of its economic transition and a major source of institutional predation in the market. We then examine the share structure reform initiated in 2005 that sought to eliminate the distortion this predation had elicited. We interpret the reform push as a process of institutional change and focus on the drivers and theoretical explanations of such changes in China's stock market. We thus advance a model for understanding institutional change, Chinese style. We argue that, initially, the institutional arrangement was constructed by the dynamics of transition – the juxtaposition of the Leninist state and the emerging stock market. This provided huge incentives for state corruption in the emerging market. As the market transition proceeded, the societal and political costs of corruption and market distortion also grew, which produced a crisis that eventually attracted the attention of powerful leaders of the party state. We argue from this case that the broader political context in which specific examples of institutional change occur needs to be examined. Specifically, we argue that powerful agents who are external to given institutional environments can play an important role in institutional change, thus highlighting the political dynamics of an authoritarian state amid systemic transition and global integration.     

Laughter and Liability: The Politics of British and Dutch Television Satire

Contemporary politicians face immense rhetorical and communicative challenges. Performing on the intertwined stages of politics, media (including Internet) and everyday life, they need to master diverse and contrasting repertoires of talk. Political communication research, at present, has ignored the question of how politicians face and experience these challenges, and how they reflect on the new communicative field. In this article, we begin to redress this situation by analysing and comparing the motives, experiences and reflections of politicians who appeared in the British satirical TV show, Have I Got News for You, and its Dutch adaptation, Dit was het Nieuws. Based on in-depth interviews with seven Dutch and 14 English MPs, we conclude that they draw from three repertoires to legitimise and reflect on their participation: a strategic, indulgent and anti-elitist repertoire. The first repertoire is predictable in the context of current political communication research, whereas the latter two add new dimensions of pleasure and bottom-up representation to it.     

Two Models of Monetary Redress: A Structural Analysis

Monetary redress is a developing area of human rights policy. The article examines how a redress program’s design affects the interests of program applicants. It distinguishes two program models, individual assessment and common experience, and explores their differing effects on applicants’ interests. Analyzing two Irish cases, redress for survivors of the industrial schools and the Magdalene laundries, the discussion is applicable to a wide range of redress programs including those in postconflict, transitional justice, and postcolonial contexts.     

Collective failure? Lessons from combining forecasts for the UK's referendum on EU membership

Research on election forecasting suggests there are benefits from combining different sources of information. This paper discusses the experience of a combined forecasting method that was developed for the UK’s EU referendum in 2016. The sources included opinion polls, vote expectation surveys, prediction and betting markets, expert and volunteer forecasts, and various forecasting models based on polling and other kinds of data. Averages of sources within each of these categories all, in our final forecast, suggested Remain was more likely to win but with varying degrees of certainty. Combining them produced a forecast that beat some but not others. Opinion polls and citizen forecasts came closest to the true outcome. Betting and prediction market participants and volunteer forecasters were the most overconfident that the UK would vote Remain. This may have been because they were distrustful of the polls following the 2015 general election miss and had too strong an expectation of a late swing towards the status quo similar to those in Scotland in 2014 and Quebec in 1995.     

In Praise of <Emphasis Type="Italic">The American Political Tradition</Emphasis>

No book is more exemplary in identifying the continuity of democratic statesmanship in the United States than Richard Hofstadter's second book. Its scope is long—from the Framers through the New Deal. The author's insights are brilliant, expressed with literary brio. No other book manages to convey the basic homogeneity of American politics with such persuasiveness, in blending that tradition with the defense of enterprise and property (and in sprinkling the portraits with such acerbic wit). The unifying thread nevertheless needs to be modified in the light of greater sensitivity to the ordeal of race, and in evaluating how the heritage of the New Deal has tempered the commitment to an unbridled capitalism.     

Why strategic intelligence analysis has limited influence on American foreign policy

Why does strategic intelligence analysis have limited influence on American foreign policy? Intelligence analysis is frequently disregarded, this paper contends, because it is a duplicated step in the decision-making process and supplements but does not supplant policy assessment. Many intelligence analyses will confirm policy assessments and be redundant or – if the assessments are different – policy-makers will choose their own interpretations over those of intelligence analysts. The findings of this paper provide scholars with important insights into the limits of intelligence analysis in the foreign policy process as well as recommendations for increasing its positive impact on policy.     

Jimmy Carter and the Sale of the AWACS to Iran in 1977

It appeared that as 1977 dawned, the political climate in the United States might render multi-billion dollar arms sales into unstable regions a thing of the past. Jimmy Carter triumphed in the presidential election of November 1976 on a popular platform of arms control and the introduction of human rights considerations into American foreign policy. His transition from that idealistic candidate to the president who agreed to sell Iran a fleet of highly advanced AWACS aircraft, as part of a record breaking $5.7 billion arms package, is therefore outwardly confusing. Yet, when examining the entrenched policy path that Carter inherited regarding arming Iran, and the larger needs of Cold War containment, the logic of Carter’s decisions essentially to betray his own policies in this case becomes clear.