Environmental liability reform and privatization in Central and Eastern Europe

The legacy of severe environmental degradation inherited by the new Central and Eastern European (CEE) economies requires liability reform to aid the cleanup of existing pollution sources and create incentives for future environmental risk reduction. The paper analyzes a host of liability approaches to meet these goals, given economic and institutional characteristics specific to the CEE nations, and explores the impact of environmental liability rules on privatization and foreign investment. A principal conclusion of the analysis is that, for a host of efficiency-based reasons, liability should not be retroactively applied to the new owners of privatized firms. Also, the paper advocates the use of national liability funds to finance the cost of existing liabilities, while highlighting dangers associated with their use. In addition to the desirability of alternative privatization mechanisms, the paper also analyzes altemative liability rules to govern prospective environmental hazards.     

The 1984 election as Anthony downs and Stanley Kelley might interpret it

This paper is an analysis of two rational choice theories of elections. Anthony Downs and Stanley Kelley's theories yield complementary interpretations of the 1984 U. S. election. Reagan's victory was based on both prospective and retrospective judgments as well as on candidate and policy considerations. Reagan won that element of an incumbent's reelection that is a referendum on his performance as president. However, people also voted on the basis of domestic and foreign policy preferences for the second term. On these issues voters preferred Mondale as much as Reagan. Reagan's victory owed remarkably little to his conservative agenda and to a warm regard for his personal qualities as a leader. His landslide was deceptive. The two Reagan victories were among the weakest of the six landslides of the postwar period by Kelley's test of decisiveness. The Reagan elections have not set the United States on the course of a long-term conservative agenda in either domestic or foreign affairs.     

BANKING ON THE PERIPHERY: Bolivia's Financial Reforms, 1985–1996

This article examines the sequencing of financial reform in LDCs in Bolivia. Bolivia undertook a dramatic stabilization program in 1985 and, over the next decade, steadily improved the oversight and regulation of domestic banks. I explain how these reforms proceed under three democratically elected administrations who each used political pacts to ensure legislative support for their agenda. At the international level, external shocks twice precipitated deeper banking reforms, but Bolivia's underdeveloped capital markets prevented the speculative attacks observed in other cases. The Bolivian experience demonstrates the potential for financial reform in the poorest of LDCs and the need for further research in similar cases.     

The effect of the method of burial on adipocere formation

A controlled laboratory experiment was conducted in order to investigate the effect of the method of burial (i.e. the presence of coffin and clothing) on the formation of adipocere. This study follows previous studies by the authors who have investigated the effect of physical conditions on the formation of adipocere present in a controlled burial environment. The study utilises infrared spectroscopy to provide a preliminary lipid profile of the remains following a 12 month decomposition period. Inductively coupled plasma-mass spectrometry was employed as a technique for determining the salts of fatty acids present in adipocere. Gas chromatography-mass spectrometry (GC-MS) was used as the confirmatory test for the identification and determination of the chemical composition of adipocere which formed in the controlled burial environments. The results suggest that coffins will retard the rate at which adipocere forms but that clothing enhances its formation. The results concur with previous observations on adipocere formation in burial environments.