Does the Feldstein–Horioka puzzle exist among South Asian countries? A regime‐switching approach

A plethora of literature has been undertaken to study the validity of the Feldstein–Horioka (FH) puzzle. However, divergent views continue to persist in the FH puzzle literature. This study explores the empirical validity of the FH puzzle in the case of South Asian countries using annual data from 1960 to 2017. Both panel data approach and Markov‐switching regression approach are used to empirically analyze the FH puzzle. The results of the cointegration test confirm the long‐run relationships between saving and investment in the selected South Asian countries. The results of Markov‐switching regression confirm that the saving‐retention coefficient has shifted from high to low values and also from low to high values. Thus, the FH puzzle exists for a particular time period and mostly depends on the regime shifts in the South Asian countries. The results of panel fully modified ordinary least squares (FMOLS) and dynamic ordinary least squares (DOLS) methods also confirm that FH puzzle holds for the South Asian countries. Therefore, the study suggests that any saving promotion policies are desirable for enhancing investment among the South Asian regions.     

The 2019 General Election in Northern Ireland: the Rise of the Centre Ground?

The experience of the 2019 general election in Northern Ireland took a very different course to that of the rest of the UK and, indeed, to the pattern of electoral politics typical of the region. Coming after almost three years with no functioning devolved government, combined with intense disagreement and uncertainty about Brexit, voters were ready to give a message to the two largest parties. Both Sinn Féin and the DUP suffered losses in the election, with the headline outcome being that unionism no longer holds the majority of seats for Northern Ireland in Westminster. More generally, there was a swing from both sides towards centre ground voting, which brought significant gains for the Alliance Party and the SDLP. This article summarises the reasons for this broad trend, focussing on the conditions and electoral pacts which brought it about. It also considers what it might mean for the prospects for Irish unification, noting that a referendum on unification will only be passed by attracting votes from those who tend to see themselves as neither unionist or nationalist.     

Aid and state-building,Part I: South Korea and Taiwan

Under what conditions does foreign aid in the aftermath of war foster state-building? This article argues that institutional legacy and continuity and the politics of aid may matter. In the aftermath of war, for an aid regime to reinforce state-building, it may need to ensure continuity in the strength of the state and to use recipient mechanisms and finance policies that generate a greater state capacity. The existence and continuity of a Weberian state may increase the likelihood of effective state-building. If the state is relatively strong, with a Weberian bureaucracy, aid can further reinforce it when aid is spent through national systems or is aligned with local priorities, with efforts to ensure that the recipient leaders reinforce state effectiveness by implementing policies that may require greater state capacity. Evidence for this argument is provided through pairwise comparison of state-building patterns between South Korea and Taiwan.     

Environmental Stressors and Food Security in China

This article considers the immediate forces influencing China’s food system and food security. By immediate is meant events of the reform period, from the late 1970s to 2008. It begins by asking the question that has preoccupied specialists since the publication of Lester Brown’s Who Will Feed China? in 1995: How much arable land does China have? Is that land area sufficient to insure grain sufficiency? To insure food security? The article focuses on the human pressures on the food production environment, and then treats the effects of socioeconomic change: land, air, and water degradation. The core of the article examines six responses of the state to both perceived and actual environmental stressors: policy restricting arable land conversion, China’s one-child policy, investment in irrigation systems, the South–North Water Diversion Project, large-scale afforestation and reforestation campaigns, and the program to convert marginal agricultural lands to forests and grasslands.     

外商直接投资区位理论综述

对外直接投资在二战后发展的规模和速度极为突出。作为国际生产的主要载体,跨国公司在对外直接投资时．首先要考虑的一个重要问题就是区位选择问题。跨国公司直接投资的区位因素分析,一直是国际经济学界关注的理论热点之一。在经济全球化背景下,研究跨国公司对外投资区位决策因素的变迁,对分析跨国公司的直接投资行为和投资流向的变化具有重要意义。     

Against Localism: Does Decentralising Power to Communities Fail Minorities?

The continued decline in levels of political engagement among British citizens has led many politicians, commentators and academics from across the political spectrum to advocate a move toward a more direct form of democracy via some kind of localism. The claim is that citizens feel increasingly estranged from the democratic process, and from those organisations on which they have historically relied to represent them within the political system. Consequently, localists argue, there now exists a gap between the people, the institutions which are supposed to work on their behalf, and the decisions made in their name, so the system needs to be reformed in such a way as to give individuals and local communities more of a direct input into the decision-making process. Calls for a more direct form of democracy via localism are popular among members of the progressive left and the 'new Conservative' right, and have become so dominant in political discourse that it is often suggested that 'we are all localists now'. This article raises questions about the localist agenda, and suggests that the adoption of a more direct form of democracy in Britain may not only fail to address the decline in political engagement, but may also result in the exclusion, marginalisation, and oppression of minority groups.     

对浙江省利用外资优化产业结构的思考

加入WTO后,浙江省利用外资呈现出总量快速增长、投资行业结构调整和投资方式独资化的趋势。同时伴随着国内宏观调控和要素制约的全面趋紧,浙江省在利用外资上面临着严峻的挑战。在新的发展时期,浙江省必须切实转变招商引资观念,以优化产业结构为核心目标,改善环境、明确重点、创新方法,使浙江在外资引进的数量和质量都得到进一步提高;在利用外资的策略上更应重视关联环节,完善产业集群,积极融入跨国公司产业链,从而促进全省经济结构调整和产业结构的优化。     

Shifting rights,property and authority in the forest frontier: ‘stakes’ for local land users and citizens

Customary land and forests are more embedded in the global economy than ever. With globally significant supplies of land and raw materials and favorable terms for foreign investors, developing countries – particularly in Africa – have become increasingly attractive trade partners and destinations for investors. Increasing competition over land is placing new pressures on vast tracts of forest and woodland, areas often considered ‘under-utilized’ by national governments despite their critical role in supporting local livelihoods. While increased demand for primary agricultural, forest and mining commodities in the context of forest tenure reforms and decentralized decision-making could create unprecedented economic opportunities for forest-dependent communities, increased ‘stakes’ over forest resources and land will undoubtedly heighten governance challenges. This is in no small part due to the political dynamics of property, and to the role of the ‘recursive constitution of property rights and authority’ in the evolution of the modern nation-state. By identifying the social ‘stakes’ associated with different pathways through which sectoral and extra-sectoral commodities shape forests, this paper provides a conceptual framework for analyzing how shifting contours of rights, property and authority in the context of forest-related trade and investment shape human well-being for affected communities and the wider citizenry of host countries. It then illustrates the use of the framework through its application to two brief case studies from southern Africa: tobacco production in Malawi and copper mining in Zambia. It is hoped that this framework will provide a meaningful contribution to growing scholarship on the political dynamics of property, and implications for rights-based approaches to agricultural investment and large-scale land acquisitions.     

Divergent fates: company unions and employee involvement committees under the railway labor and national labor relations acts

Well known is that the National Labor Relations Act (NLRA, 1935) in the United States places a largely per se ban on nonunion employee representation (ER) groups which deal with employers over a term or condition of employment. Much less well known is that America’s other labor law, the Railway Labor Act (RLA, 1926), takes a different approach and permits employers to operate such councils and committees as long as they do not perform a collective bargaining function or interfere with workers’ free choice of a bargaining agent. Thus, under the RLA Delta Air Lines is able to operate what is today the closest living approximation to a 1920s-style ER plan while hundreds of other companies (e.g. Polaroid) under the jurisdiction of the NLRA have been forced over the years to disband similar groups on grounds they are a proscribed company union. No study to date has explored the history behind the RLA and NLRA’s divergent treatment of nonunion ER groups so this article takes a first look. The main part of the story covers the 1920–1935 period and examines the events, people, and experiences associated with company unions and ER in, respectively, the rail and manufacturing industries and why the legislative outcome in the former was a permissive stance on nonunion committees but prohibitive in the latter. The last part of the paper fast-forwards the RLA-NLRA story from the 1930s to contemporary law and practice in order to demonstrate how “history matters” when it comes to what employers can and cannot do with nonunion representation groups, such as works councils, participation and involvement committees, and dispute resolution forums.     

Look at Detroit: The United Auto Workers and the Battle to Organize Volkswagen in Chattanooga

ABSTRACT

On February 14, 2014, workers at Volkswagen’s new plant in Chattanooga, Tennessee, voted 712 to 626 against being represented by the United Automobile Workers of America (UAW). The result capped one of the most high-profile organizing campaigns of recent years, with most media accounts anticipating a UAW victory, especially as VW had declared that it would not oppose the union. The VW election is also now attracting scholarly interest, with accounts stressing the role of external opposition – especially from conservative politicians and lobby groups – along with the UAW’s over-reliance on partnerships with German actors. Providing a detailed analysis of the campaign, this article recognizes the importance of these factors, but also argues that an important role was played by the UAW’s strong association with the domestic automakers, and especially with Detroit, their historic base. Citing the fact that foreign automakers had expanded since the 1980s while the domestics had contracted, opponents effectively linked the UAW with economic decline. These arguments swayed many workers. Placing the VW story within the broader struggle of the UAW to organize a foreign-owned auto plant, the article also stresses structural obstacles, especially the location of Greenfield plants in areas of low union density.