Corporate raiding and the role of the state in Russia

To what extent are Russian state agencies involved in predatory behavior, and what are the determinants of their activities? Analyzing a novel data-set comprising 312 cases of illegal corporate raiding (reyderstvo) between 1999 and 2010, this article identifies a shift both in the regional and sectoral distribution of raids over time, as well as an increasing participation of state agencies in criminal raiding attacks. Using panel regression analysis to look at the determinants of increasing state involvement, this article shows that election results for the ruling president and his party, as well as the degree to which elections are manipulated throughout Russia's regions, are significantly and positively correlated with the number of raids in a given region, while regions with governors that have stronger local ties are characterized by a smaller number of attacks. A potential interpretation of these findings is that the federal center may tolerate a certain degree of predatory activities by regional elites, as long as these elites are able to deliver a sufficiently high level of electoral support for the center, with the effect being weaker in regions where the governor is interested in the long-term development of the regional economy.     

Investments in Global Warming Mitigation: The Case of “Activities Implemented Jointly”

This paper examines bilateral cooperation between developed countries (home country) and developing countries (host country) to reduce greenhouse gas emissions and to enhance carbon dioxide sinks. With the home-host country pair as the unit of analysis, our logistic regression model examines 158 Activities Implemented Jointly (AIJ) investment projects from 1993 until 2002 across 2541 country-pairs. Because the marginal costs of reducing emissions may be lower in developing countries, the AIJ projects served as a policy laboratory to assess whether such investments might be advantageous to both countries in the event future regimes allowed emission credits from such bilateral projects. Instead of investing in home countries where maximum pollution reductions (or carbon sequestration) might be possible, home countries invest in locations where they can conduct their policy experiments at low transaction costs. Prior trade and aid relationships were used as a proxy. Regarding energy projects, location decisions are driven by home countries’ desire to reduce air pollution that they receive from abroad. Geography – proximity of a host country to a home country – in interaction with host country's coal production, is a very important driver of location decision in AIJ energy sector projects. Location of sequestration projects is impacted by the host country's potential for avoiding deforestation as well as by previous aid and trade patterns between a home and a host country. Proximity is not important in this case.     

Trade Measures and Climate Compliance: Institutional Interplay Between WTO and the Marrakesh Accords

This article examines the potential of trade measures to induce more climate-friendly policies, focusing on the relationship between global trade rules and the Kyoto climate regime. At the core of this interplay is the normative consistency of trade-related rules in the two regimes and any hierarchical relationship between them. The stronger clout of the WTO and its compulsory dispute settlement system suggest that issues involving competing claims would be referred to WTO bodies. Such bodies have so far been restrictive regarding the exceptions in WTO agreements to the general ban on embargoes and discrimination. The normative compatibility of the two regimes will also depend on their participatory interplay, specifically how they differentiate groups of actors as to rights and obligations. Non-members of WTO receive the least protection, and their vulnerability to climate-related trade measures is largely determined by their interdependence with states that consider employment of such measures. Among WTO members, the findings of a dispute settlement body would presumably differ depending on the status of the target under the Kyoto Protocol. A non-complier with Kyoto commitments would be more shielded than a non-party, because by joining the Kyoto regime a non-complier has exposed itself to regime-internal and less trade intrusive measures that should be exhausted first. A third dimension of interplay is linkage, or efforts to influence the regime interplay. To date there has only been moderate cross-agency coordination, but considerable attention is paid within each regime, including in the Millennium Round of trade negotiations, to the desirability of avoiding conflict between them.     

Vigilantes,gangsters, and alcohol: clashing citizenship regimes in postwar Guatemala

In this volatile moment in Latin America, when relations between the state and citizens are in flux, people at the margins of society draw on various notions of citizenship in social conflicts over proper behavior and the common good. I examine an intergenerational conflict over the legality of alcohol in an indigenous village in Guatemala to show how its protagonists creatively recombine different aspects of the various citizenship regimes that they have encountered. Elders have formed vigilante justice groups to combat the youth they consider gangsters. While the vigilantes draw upon a discourse of obligation to justify their actions, the generation below them counters with a language of rights. Some argue that citizenship is less meaningful in contexts where state power is ambiguous and extralegal violence is commonplace. I argue that in such contexts, it is not that citizenship does not have meaning, but rather that its meaning is intensely contested.     

Australia and the Baltic States, 1919–1945

Praised by international organizations, Estonia and Slovenia have long been considered among the most successful post-communist states. Estonia quickly transformed itself into one of the most liberal economies in the world, whereas Slovenia opted for a social justice-oriented market economy. Still, the roots of their success coincide in that consensus played a crucial role. We argue that the public sphere was never as repressed in Estonia and Slovenia during the communist period as it was elsewhere. Distinct national identities continued to be formed and re-formed by intellectuals during the decades of communist rule, who assumed roles as political leaders when the transition started. Consensus based on these national identities legitimized reform policies for the entire decade of the 1990s.     

Time for a haircut: political regimes and sovereign debt restructurings

ABSTRACT

Conventional wisdom claims that reputation leads sovereign states to full debt repayment. However, defaults are recurrent, some debtor countries take a lot of time to end them, and some extract costly concessions from investors. This article argues that these differences are largely explained by the political regimes in the borrowing countries. While previous research examines whether democracies make more credible commitments, we analyze how democracies affect bargaining with foreign investors after a default occurs. Democracies, with their institutional checks, electoral uncertainty, greater transparency, and public deliberation, make swift decision-making harder, create incentives to pander and posture, and give leverage to minimize the win set of viable agreements. We test our theory on a comprehensive dataset of debt restructurings with private creditors in the period 1975–2017. The event history analysis indicates that democracies experience longer restructurings and the double-hurdle regression analysis shows that democracies obtain larger creditor losses. Further, there is interesting variation among democracies and autocracies. Our findings suggest that political regimes are crucial to explaining why cooperation fails in international debt markets.     

Conceptualising Party-State Governance and Rule in Laos

ABSTRACT

This article develops a framework for conceptualising authoritarian governance and rule in the Lao People’s Democratic Republic. After introducing the national and academic context, which go a significant way towards understanding the paucity of comparative political work on Laos, we propose an approach to studying post-socialist authoritarian and single-party rule that highlights the key political-institutional, cultural-historical and spatial-environmental sources of party-state power and authority. In adopting this approach, we seek to redirect attention to the centralising structures of rule under the Lao People’s Revolutionary Party, illustrating how authoritarian institutions of the “party-state” operate in and through multiple scales, from the central to the local level. At a time when the country is garnering greater attention than at any time since the Vietnam War, we argue that this examination of critical transitions in Laos under conditions of resource-intensive development, intensifying regional and global integration, and durable one-party authoritarian rule, establishes a framework for future research on the party-state system in Laos, and for understanding and contextualising the Lao People’s Revolutionary Party regime in regional comparative perspective.     

Timing is everything: a quantitative study of presidentialist regime dynamics in Eurasia, 1992–2016

Why do some countries with presidentialist constitutions feature more political closure than others at a given time? A quantitative study of post-Soviet countries since independence finds that much of the observed variation in political closure reflects timing, or the particular point at which a country happens to be within a regime cycle, rather than structural or other factors usually cited to explain regime change. Specifically, how much time a president has had to coordinate rivalrous networks around his or her authority is at least as strong a predictor of the level of regime closure as are economic development, economic growth, resource rents, proximity to Europe, and key cultural factors, even when controlling for the level of closure in the preceding year. This pattern is not found among countries with divided-executive constitutions, indicating it is related to the constitution rather than a general phenomenon.     

Bugs,predations or manipulations? Incompatible epistemic regimes of high-frequency trading

Abstract

Calls for greater transparency as well as corporate and individual accountability have emerged in response to the recent turbulence in financial markets. In the field of high-frequency trading (HFT), suggested solutions have involved a call for increased market information, for example, or better access to the inner workings of algorithmic trading systems. Through a combination of fieldwork conducted in HFT firms and discourse analysis, I show that the problem may not always stem from a lack of information. Instead, my comparative analysis of different market actors (regulators, market analysts and traders) shows that the diverse and complex ways in which they access and construct knowledge out of information in fact lead to what I call different epistemic regimes. An understanding of how epistemic regimes work will enable us to explain not only why the same market event can be viewed as very different things – as market manipulation, predation or error – but also why it is so difficult to arrive at a unified theory or view of HFT. The comparative perspective introduced by the idea of epistemic regimes might also serve as a starting point for the development of a cultural approach to the study of financial markets.     

Pathways of democratisation to human development in post‐communist countries

The article investigates the consequences of post‐Cold War regime transitions on human development in the former Soviet bloc. Relying on a mixed‐methods research strategy that combines econometric and qualitative comparative analysis, it proceeds through three consecutive steps. First, there is a discussion of how democratic institutions may solicit governments’ attention toward social issues. Second, the relationship between democratisation and human development in 21 post‐communist countries is tested. Third, democracy in its core attributes is unpacked, and qualitative comparative analysis (QCA) is used to identify a few alternative institutional configurations favouring human development. The analysis reveals that not only full democracies, but also some hybrid regimes, have been successful in this task.