The politics of mortgage credit expansion in the small coordinated market economies

Abstract

Recent contributions to the comparative political economy literature claim that liberal market economies are vulnerable to asset booms and busts because of financial deregulation, shrinking welfare states and a political ideology emphasising financial self-sufficiency. This article examines the rapid expansion of mortgage lending in three coordinated market economies (CMEs): Denmark, Sweden and the Netherlands. This expansion is puzzling given that all three countries are CMEs with generous welfare states. Yet the pattern of mortgage lending resembles the Anglo-Saxon or liberal market economies (LMEs) more than other CMEs. The article argues that mortgage bubbles in the small CMEs emerged as the unintended outcome of pairing neoliberal programmes to expand home ownership with collectivist housing institutions. This resulted in supply restrictions and rising property values which saddled households with extraordinarily high mortgage debts. In short, mortgage credit bubbles are not unique to Anglo-liberal welfare states and may have different origins.     

A Desultory Defense of Democracy: OAS Resolution 1080 and the Inter-American Democratic Charter

This article evaluates the effectiveness of OAS mechanisms for safeguarding democracy through multilateral diplomacy, what some scholars have dubbed the interamerican defense of democracy regime. Drawing on a range of international relations theories, this study derives competing hypotheses about member states' responses to democratic crises in the Americas. It then analyzes all instances in which a collective response—that is, an application of Resolution 1080 or the Inter-American Democratic Charter—was debated in the OAS between 1991 and 2002. Patterns of state behavior suggest that domestic politics, rather than the structural or systemic traits of the interamerican system, best explain foreign policy responses to crises of democracy in the region. The OAS record in confronting such crises is uneven.     

R&D value mapping: A new approach to case study-based evaluation

This study presents an approach to harnessing the power of case studies for research evaluation calledR&D value mapping (RVM). While this method uses case studies in the traditional manner to provide in-depth insights, it also structures case studies through an analytical framework that yields quantitative data and less subjective “lessons learned”. When properly applied, RVM can yield an inventory of outcomes and empirical generalizations regarding the determining variables. A particular advantage of the approach is that it not only provides an indication of the type and amount (though not a single numerical index) of outcome, but also gives insight into the reasons outcomes are achieved. Thus, RVM is useful for policy management strategies seeking to replicate success. The specific steps associated with the RVM method are illustrated through studies that have applied the technique. The authors gratefully acknowledge support from of the Department of Energy, Basic Energy Sciences and previous contracts from Sandia National Laboratories and the New York State Energy Research & Development Authority. A number of persons have made useful comments on the RVM method. We are particularly grateful to David Roessner, Juan Rogers, Gretchen Jordan and Iran Thomas.     

Facing the powers that be

Lobbyists, entrenched forces in congress and self-interested friends will try to stymie Clinton's efforts. A look at four key arenas of combat.     

Consequences and dilemmas in therapeutic relationships with families resulting from mandatory reporting legislation

Mandatory reporting legislation has been adopted in every state to insure the protection of children from maltreatment. These statutes have become a significant factor in the lives of mental health professionals who work with children and families. Thirty psychotherapists who had made a recent report of child maltreatment on a client in treatment were interviewed about their experiences with reporting and the consequences of reporting for therapeutic relationships. Several potentially problematic consequences and dilemmas were identified by the therapists, including immediate and long-term effects on the therapeutic alliance and course of therapy, and conflicts of interest in working with children and families.