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.     

On our terms! How domestic elites localised the International Commission Against Impunity in Guatemala

Abstract

In summer 2004, an UN-sponsored international rule of law commission based on an initiative of the Guatemalan human rights community was rejected by Guatemalan political elites. In 2007, a new version, the International Commission against Impunity (CICIG), was approved by the Guatemalan Congress and has since been active in the country, supporting the modernisation of the Guatemalan judicial system and the investigation and prosecution of criminal networks. The CICIG has been hailed as part of a new generation of rule of law promotion that addresses the problems of post-conflict states. How did this change in elite support come about? Neither increased pressure from the international community nor changes in the elite groups in power can fully explain this shift. Rather, Guatemalan elites actively reshaped the commission; in addition, the human rights community reframed it to better fit the risk perceptions of the general public.     

When school meets the Other: intercultural policies in the Basque inclusive school

ABSTRACT

Gatti, Irazuzta and Martinez address the intercultural public policies implemented in the education system of the Autonomous Region of the Basque Country (Spain). Focusing on the education system allows them to reconstruct the historicity of identity-alterity production in a region in which language has been central for the establishment of ethnic frontiers. More specifically, they examine the implementation of these policies in three pre-school and primary educational institutions in a multicultural neighbourhood of the city of Bilbao. They look at Euskara—the Basque language—as a key element of the us-them distinction. The various education models regarding language and the teaching in/of Euskara or Spanish pave the way for the specialization and spatialization of the schools analysed. ‘Integration’ policies are implemented in ethnically marked schools only, based on a rhetoric of interculturality that assumes that any ‘racial or ethnic discrimination’ can be overcome through knowledge of the Other. Moreover, the assessment of public policies through ‘interculturality figures and best practice’ developed to address the so-called ‘immigration issue’ promotes a protectionist intervention on behalf of the assumed social vulnerabilities of immigrant schoolchildren and their families, which are read as ‘problematic characteristics’. The article argues that, as a result of the approach based on the social conditions of immigrant children and their families in the Basque Country, the race issue evaporates.     

Public support for coercive diplomacy: Exploring public opinion data from ten European countries

Scholarship has increasingly acknowledged the importance of public attitudes for shaping the European Union's Common Foreign and Security Policy. Economic sanctions emerged as one of CFSP's central tools. Yet despite the emergence of sanctions as a popular instrument in the EU foreign policy toolbox, public attitudes towards sanctions are yet to be studied in depth. This article explains public support for EU sanctions, using the empirical example of sanctions against Russia. It looks at geopolitical attitudes, economic motivations and ideational factors to explain the variation in public support for sanctions. The conclusion suggests that geopolitical factors are the most important, and that economic factors matter very little. Euroscepticism and anti‐Americanism play an important role in explaining the support for sanctions at the individual level.     

The Characteristics and Unmet Housing Program Needs of Disabled HUD-Assisted Households

The mismatch between the housing needs of persons with a disability and the housing programs designed to accommodate those needs is an important housing policy concern. The U.S. Department of Housing and Urban Development (HUD) sponsors several programs designed to improve the housing conditions of persons with a disability, but we know little about the characteristics of persons with a disability, among those receiving federal housing assistance, or the degree to which persons with a disability are served by HUD-sponsored housing programs that are designed to meet the needs of persons with a disability. Our study relies on administrative data from HUD and the U.S. Census Bureau to address this research gap. We find that many persons with a disability are served by HUD-sponsored programs that are not designated for persons with a disability, even when disability accommodations have been requested, and a similarly large share of persons with a disability live in potentially eligible low-income households that do not receive HUD assistance.     

Fiscal Austerity and Rental Housing Policy in the United States and United Kingdom, 2010–2016

After the 2008 global financial crisis, both the United States and the United Kingdom introduced austerity policies targeted at particular elements of their national budgets. The purpose of this article is to compare the nature of this retrenchment; the similarities and differences in how it was implemented; and its initial impacts on one of the expenditure areas particularly affected: affordable rental housing programs and housing support for low-income households. Using a wide range of data sources, we find evidence of political and fiscal policy analogies in the timing and forms of the initial policy choices and how these were modified in the face of economic and political pressures. There are considerable similarities both in the instruments used to reduce housing expenditures and in the early impacts on support mechanisms and recipients. However, we find different histories and trajectories of support between the two countries that suggest that the longer term differences in outcomes may be more important.     

Akutagawa Ryūnosuke's uncanny travels in Republican-era China

This study focuses on Akutagawa Ryūnosuke's Shina yūki (Travels in China): an account of a four-month journey through eastern, central, and northern China in the spring and summer of 1921. Due to Akutagawa's reputation as a writer and the account's vantage point on a transitional period in Japan's expansion abroad, Travels in China has traditionally enjoyed a prominent place in the canon of twentieth-century Japanese travel writing. What has received less attention, however, is the relation of the work to the rest of Akutagawa's literary corpus. In this paper, I situate Travels in China within the larger context of Akutagawa's ongoing interest in Chinese fiction and drama. Rather than reading Travels in China as a work of journalism, as Akutagawa initially invited his readers to do, I argue that the work is an extended exploration not only of the relationship between ‘New China’ and Akutagawa's beloved traditional Chinese culture, but also of the boundaries separating journalism, fiction, and other literary genres. Ultimately, I connect Travels in China to Akutagawa's later work: texts that similarly interrogate and deconstruct the distinctions between genres and modes of narrating experience.     

A comprehensive approach to providing services to survivors of sexual and gender-based violence in Democratic Republic of Congo: addressing more than physical trauma

ABSTRACT

The eastern Democratic Republic of Congo (DRC) is impacted by a prolonged conflict and humanitarian crisis. Sexual and gender-based violence (SGBV) affects an estimated 39.7% of women and 23.6% of men in the region, and is associated with serious medical, psychological, and socio-economic outcomes for survivors and communities. IMA World Health, a faith-based non-profit organisation, implements a USAID-funded project, Ushindi, which is a collaborative effort with three national NGOs and one technical partner in response to SGBV in eastern DRC. The consortium provides a comprehensive package of services to SGBV survivors, focusing on medical, emotional, psychological, legal, and socio-economic needs.     

Whole-person health and development: two South Indian initiatives

ABSTRACT

In responding to the 2016 reformulation of the United Nation’s Sustainable Development Goals, the development community’s efforts are focused on a sweep of initiatives aiming to promote whole-society, sustainable development. The ambition of the SDGs is inspiring, but also daunting, and does not always sit easily within national models of economic development. This viewpoint profiles two organisations in the south Indian state of Tamil Nadu, that have decades of experience in whole-person development among scheduled tribes and disability communities. Both organisations serve as timely examples of ongoing holistic, whole-person health and development in the context of new ideals and economic realities.