The mysterious overvaluation of KRW in the 1990s†

Existing theories on real exchange rates predict a significant undervaluation of the Korean won (KRW) in the early and mid-1990s. The paper demonstrates why this expectation did not materialize and instead an unprecedentedly large degree of overvaluation took place. Focusing on three variables, namely, financial repression, devaluation pass-through, and policy exhibitionism, the paper examines how the unraveling of the developmental state eventually gave rise to the 1990s’ overvaluation. It argues that the policy exhibitionism of the new civilian government amplified the influence of Chaebol on monetary policies, which in turn created a strong appreciative force to KRW. It also contends that the increasing exchange rate pass-through onto the prices of imported intermediate goods explains why Chaebol did not desire to tame the excessive appreciative trend despite its detrimental effect on their exports. The paper offers policy implications for other state-led, emerging economies.     

Poland's conception of European security and Russia

This article examines the problem of contemporary bilateral relations between Poland and Russia. Its thesis largely attributes the rivalry of these two states in Eastern Europe to conceptions relating to the balancing and bandwagoning of power. This rivalry can be put down to the fact that Polish-Russian relations are being developed within broader global processes such as Russia's relations with NATO, the USA and European Union. The greatest obstacle to the maintenance of mutually beneficial relations is the sensitive issue of security. In recent years Poland has consistently underlined its willingness to reinforce NATO's mutual defense mechanisms by supporting the organization's continued presence in Central-Eastern Europe. This issue has been compounded by Poland's striving to bring the countries of Eastern Europe (especially Ukraine) into closer affiliation with Western institutions favoring European integration, which is evidently perceived as interference in what is regarded by Moscow to be a sphere of Russian influence. This has provoked a number of serious crises in bilateral relations between Poland and Russia since the Euro-Maidan Revolution in Ukraine. Russian plans to install new (Iskander) missile systems close to the Polish border and Poland's effective attempts post-2014 to extend NATO presence within its own country testify to the scale of conflicts of interest between the two states and the lack of trust afforded by both sides. The issues highlighted in this paper are of great importance, since they not only enable the complexity of Central European issues to be more fully comprehended but also help to elucidate other global actors' conceptions relating to cooperation with Europe.     

How authoritarian rulers seek to legitimize repression: framing mass killings in Egypt and Uzbekistan

How do authoritarian rulers legitimate repressive actions against their own citizens? Although most research depicts repression and legitimation as opposed strategies of political rule, justified coercion against some groups may generate legitimacy in the eyes of other parts of the population. Building upon this suggested link between legitimation and repression, this article studies the justifications of mass killings. To this end, framing theory is combined with recent research on the domestic and international dimensions of authoritarian rule. We contend that frames are directed towards specific audiences at home and abroad. Moreover, given the common threats at the global level and the diffusion of repressive tactics, we assume that learning processes influence discursive justifications of repression in authoritarian regimes. We provide an analysis of government rhetoric by comparing the protest crackdowns of Rabi’a ‘Adawiya Square in Egypt and Fergana Valley in Uzbekistan, taking into account the audiences and the sources of the frames that justify repression. In both cases, we find the terrorism frame to emerge as dominant.     

TTIP and legislative‒executive relations in EU trade policy

Abstract

This paper analyses Transatlantic Trade and Investment Partnership (TTIP) negotiations in order to assess how the move towards tighter economic integration within the EU?US strategic partnership impacts on legislative?executive relations in EU trade policy. The analysis examines the institutional, substantive and party political dimensions of national parliaments’ scrutiny of the Common Commercial Policy. Based on insights into both domestic and EU channels of parliamentary monitoring of TTIP negotiations, the paper argues that, although the government remains the central object of democratic control, the involvement of national parliaments in transatlantic trade extends to encompass the EU’s own transatlantic and trade policies. This is rooted in the legislatures’ legal capacity to constrain the executive in the negotiation, conclusion and, where applicable, ratification phases of EU trade agreements. It is argued that national parliamentary influence takes the shape of politicisation of the legitimacy of the expected policy outcomes of these agreements.     

Kantei diplomacy? Japan's hybrid leadership in foreign and security policy

This article operationalizes Japanese leadership in foreign and security policy, specifically the Abe administrations’ consistent China balancing. It will do so to dispel instances of Premier-centered diplomacy and posit that Abe's diplomatic agenda has rested on a ‘hybrid’ policy-making authority, where the leverage enjoyed by the Prime Minister's office (the Kantei) rested on little-appreciated politicized personnel appointments and demotions within the bureaucratic apparatus, specifically the Ministry of Foreign Affairs. Moreover, successful Japanese leadership has functioned especially when operating within the scope of the US strategic framework towards East Asia. While structural constraints, such as the ever-present influence of the USA and bureaucratic coordination, may constrain options, effective leadership in foreign policy-making can indeed make a difference within those boundaries.     

Signing up to devolution: the prevalence of contract over governance in English devolution policy

Initial analyses of the ‘devolution deals’ that form the cornerstone of current efforts to devolve power within England assess the policy against conventional governance criteria: accountability, transparency, and the quality of governance systems. In fact, English devolution policy has little connection with territorial governance. Instead, it closely resembles a contractual process, with central government determining the terms on which it will outsource specified programmes and projects to local governments, complete with requirements for ‘business readiness’, implementation plans, evaluation requirements, and future joint working. Accountability, governance and even geography take second place to the aim of improving central policy outcomes via a contract-style relationship. This perspective is styled ‘post-territorial devolution’: it accounts more effectively for the shape of the policy so far than traditional governance perspectives, which are often laced with normative positions.     

Security Providers: Obstacles to Effectiveness in Democracies

To usefully discuss security, one must analyze the security providers states utilize to enhance international and domestic security. These are the armed forces, police, and intelligence agencies. This paper analyzes the implications of democratization on the requirements—posited as strategies, resources, and coordination institutions—these providers require in order to achieve the goals civilian leaders set for them. In analyzing case studies of how nations implement six different tasks, it becomes clear that the absence, or weakness, in any of the requirements leads to serious weakness in implementation. Two findings from the case studies are particularly important for policy. First, presidents, who are elected directly and for fixed terms, may ignore or even abolish institutions, including national security councils, that are created to coordinate policy. Second, as civilians are in control, if they lack clear incentives they are not willing to provide the necessary requirements for the security providers.     

The Totalisation of Human Social Practice: Open Marxists and Capitalist Social Relations, Foucauldians and Power Relations

This article critiques Open Marxism for an ontology which totalises human social practice—for Open Marxists, capitalist social relations are the singular constitutive source of human activity. Such a stance is superficially attractive yet ultimately inadequate, and I reinforce my case by demonstrating how other critical approaches—in this article, Foucauldian perspectives on power—suffer from similar deficiencies. Thus there is a need to resist the temptation of claiming to know how human social practice can be understood with recourse to a singular aspect (no matter how important) of such practice. I conclude that an excellent example of how to avoid such pitfalls is provided by Antonio Gramsci's writings, for they acknowledge the multifaceted yet nevertheless anchored existence lived by humans in capitalist societies.     

Living and Teaching Across Cultures

As long as one lives within the confines of a single culture it is difficult to achieve cross-cultural awareness. Multiculturalism is often simply the tolerance of a dominant culture for minority cultures. Cross-cultural awareness is a state of mind in which one is alert to alternity , the existence of others possessing different and equally valid world views and ways of life. This can be acquired living within or alongside other cultures, when one's own and others' strangeness become readily apparent. Culture shock involves just such a realization. The challenge for the teacher of international relations is to convey the possibility of alternity to students in the classroom. After all, international relations is above all about the interaction between communities possessing separate identities and autonomous wills. The article discusses ways of cultivating cross-cultural awareness, comparing the difficulties of doing so in a society under siege—Israel—with the greater scope available in the cosmopolitan setting of an elite American university.     

Human Security and Constructivism

This article explores the concept of "human security" as an academic and fledgling policy movement that seeks to place the individual—or people collectively—as the referent of security. It does this against a background of evolving transnational norms relating to security and governance, and the development of scientific understanding that challenges orthodox conceptions of security. It suggests that human security is not a coherent or objective school of thought. Rather, there are different, and sometimes competing, conceptions of human security that may reflect different sociological/cultural and geostrategic orientations. The article argues that the emergence of the concept of human security—as a broad, multifaceted, and evolving conception of security—rreflects the impact of values and norms on international relations. It also embraces a range of alliances, actors, and agendas that have taken us beyond the traditional scope of international politics and diplomacy. As a demonstration of change in international relations, of evolving identities and interests, this is best explained with reference to "social constructivist" thought, in contradistinction with the structural realist mainstream of international relations. In a constructivist vein, the article suggests that empirical research is already building a case in support of human security thinking that is, slowly, being acknowledged by decision-makers, against the logic of realist determinism.