Containing Contagious Financial Crises: The Political Economy of Joint Intervention into the Asian Crisis

The notion of contagion has changed the wayscientists perceive financial crises,causing heated debate on the politicaleconomy of crisis intervention. Based on aformal model that shows how a financialcrisis can escalate and spread contagiously,this article analyzes game-theoreticallyhow a financial market crisis can becontained through intervention. The centralfocus is the role that internationalorganizations play in overcoming thecollective action problem of jointintervention. It is argued that the IMFsupport programs were helpful, and probablynecessary in a class of cases we analyzemore carefully, in surpassing the thresholdlevel of collective action.     

To Give or Not to Give: Modeling Individuals' Contribution Decisions

Employing data from a recent national survey on campaign finance, we examine the contribution behavior of individual citizens in the 2000 election. By disaggregating types of contributions, our model enables us to observe potential heterogeneity in the determinants of giving money to parties and candidates. We find that for both types of contributions, the effects of informational resources and solicitation on the decision to contribute outweigh those of financial resources. In addition, we propose both a theoretical and an empirical distinction between the selection effects of solicitation and the stimulus effects of solicitation. By distinguishing between these dual dimensions of solicitation, our analysis provides new insight into the causal linkages between income, solicitation, and contributions. We find that while solicitation increases the likelihood of contributing through selective targeting or rational prospecting, it also does so through a stimulus mechanism.     

Gubernatorial Use of the Item Veto for Narrative Deletion

Legislative use of narrative, such as conditions and riders, in appropriations bills has become common and has had negative consequences for the executive budget and veto, as well as for the legislative process. Some governors have used the item veto as a remedy. While they have not necessarily diminished the amount of narrative, they have achieved some protection of the executive budget and veto power. Their success depends greatly on the type of legal authority embodied in this constitutional power.     

Agency, Structure and Causality in Political Science: A Comment on Sibeon

Researchers in political science are devoting increasing attention to the ontological commitments of their theories – that is, to what those theories presuppose about the nature of the political world. This article focuses on a recent contribution to this 'ontological turn' in political science ( Sibeon, 1999 ). Tensions are identified in Sibeon's account of the causal interplay between agency and social structure. It is argued that these tensions can be resolved by reflecting explicitly on ontological issues, in particular the causal efficacy of social structure, using a particular approach to the philosophy of the social sciences known as critical realism. The value of such reflection for the explanatory power of political analysis is highlighted.     

Who Wants to Work for the Government?

In an era when everyone wants to be a millionaire, governments struggle to attract and retain highly qualified employees, making it more important than ever to understand what attracts people to the public service. Using contingency table analysis and logistic regression on the 1989 and 1998 General Social Surveys, we explore how individuals' demographic characteristics and the importance they place on various job qualities influence their preference for and employment in the public sector. Job security may still be the strongest attraction of government jobs, but high income and the opportunity to be useful to society also attract some Americans to the public service. Minorities, veterans, Democrats, and older Americans preferred public-sector jobs more than whites, nonveterans, Republicans, and younger Americans, who were otherwise similar. Women and college graduates were more likely than comparable men and less-educated respondents to have government jobs, but no more likely to prefer them. Overall, desire for government jobs declined markedly between 1989 and 1998.     

A Strategy to Prevent Losses in Local Government Investment Pools

In the first half of the 1990s, some local government investment pools (LGIPs) suffered losses from derivatives investments. Although the losses came from derivatives, the actual cause of the losses was the violation of public-fund prudent investment practices. This article provides a strategy to prevent future losses for LGIPs' participants by looking at the pattern of return on investment of the pools. Our proposal is that rates of return on state pools that co-move with market rates are generally an indication of adherence to prudent investment practices. We demonstrate the viability of this proposal by using co-integration methodology. The implication is that if rates of return on a state pool do not co-move with market rates, they may indicate the violation of prudent investment practices.     

New Labour and Government in Britain: Change or Continuity?

The 1997 British election marks a major change in British government. Eighteen years of Conservative rule had brought about growing inequality and social division and have generated powerful demands for new directions in public policy, especially in the areas of welfare and public administration. On welfare state reform Labour is constrained by election promises to restrain taxation and public expenditure. New Labour ministers influenced by the New Right have in any case largely rejected traditional social democratic redistributive strategies and are seeking instead new ways of reducing welfare dependency.
The virulent spread of quangos at all levels of government and a marked increase in the centralisation of power in Whitehall have given a new impetus to demands for constitutional reform. Labour's response to these demands is a major program of regional devolution, House of Lords reform and open government measures.
This article explains what 'New Labour' means and discusses New Labour policies on welfare and constitutional reform and their implications for the future of public administration in Britain.