Suchergebnisse

Examines protests carried out by the popular classes in Latin America to oppose austerity measures implemented by international creditors or imposed by state governments to alleviate foreign debts. A description of the debt crisis facing many Latin American countries emphasizes its magnitude & its roots in global patterns of accumulation & developmental goals of dependent states. The economic situation in Latin America is analyzed in relation to interacting states & international actors, including the International Monetary Fund. Austerity measures undertaken by various nations are described, along with the wave of popular protests that emerged in response. It is noted that, between 1976 & 1986, over half of the major countries of Latin America & the Caribbean experienced social upheavals as the result of austerity measures. The motives, forms, membership, & consequences of these popular protests are examined, & it is argued that their importance must not be viewed as a separate determinant of change, but as part of the multiple forces involved in reshaping state & society. 2 Tables, 22 References. J. Lindroth

Examines protests carried out by the popular classes in Latin America to oppose austerity measures implemented by international creditors or imposed by state governments to alleviate foreign debts. A description of the debt crisis facing many Latin American countries emphasizes its magnitude & its roots in global patterns of accumulation & developmental goals of dependent states. The economic situation in Latin America is analyzed in relation to interacting states & international actors, including the International Monetary Fund. Austerity measures undertaken by various nations are described, along with the wave of popular protests that emerged in response. It is noted that, between 1976 & 1986, over half of the major countries of Latin America & the Caribbean experienced social upheavals as the result of austerity measures. The motives, forms, membership, & consequences of these popular protests are examined, & it is argued that their importance must not be viewed as a separate determinant of change, but as part of the multiple forces involved in reshaping state & society. 2 Tables, 22 References. J. Lindroth

This paper analyses the main macroeconomic conditions for joining the EU and the European Monetary Union (EMU), the readiness of the Croatian economy to meet these conditions, and the main
challenges for economic policy on the road to these integrations. Croatia does not lag significantly behind the other CEE countries in fulfilling the criteria for EU and EMU membership. It has certain advantages with respect to the criteria of macroeconomic stability
(with the exception of the budget deficit), investment efficiency, and potential growth. However, delays in the implementation of some structural reforms, in particular the development of a securities market, are estimated at about four years. The main challenges for economic policy in the run-up to EU and EMU are expected to be reducing the budget deficit and stabilising the public debt. Moreover, macroeconomic policies should remain prudent so as to strengthen external stability
and maintain favourable conditions for growth.

An African perspective contends that recent tides of globalization are manifestations of exploitative institutional relationships that were established when Africa was introduced into the world market as a provider of slave labor & cheap raw materials. Exploitation continued through the colonial trading system. It is argued that the root causes of Africa's dire situation are not internal problems but international/regional relations structured to favor global corporations. Many newly independent African states attempted to modernize their economies by borrowing international funds at high interest rates. The resulting accumulation of debt led to stabilization & structural adjustment policies that emphasize production for export & pull citizens from agrarian economies into an urban context. The negative effect on African women of the reduction in both the domestic food supply & government spending on services is discussed. Three case studies are presented to illustrate these points: (1) debt management & the Highly Indebted Poor Countries Debt Relief Initiative; (2) the Chad oil pipeline; & (3) privatization in Senegal. It is concluded that the institutions/processes of globalization are aggravating Africa's marginal position in the international order. 2 Tables. J. Lindroth

"It is meaningful to know how fiscal sociology has been taken up in Japan, which confronts with economic and fiscal crisis. Because of strong influence of German public finance, some literature about fiscal sociology appeared in Japan. But it received less attention than in Germany. The fundamental reasons are a strong influence of Marxism and the fact that there have not been serious fiscal crisis in Japan until recently. However, nowadays Japanese government has large public debt. Thus, some Japanese scholars pay attention to fiscal sociology. However it is not established social science. In order to develop persuasive discussion, it is necessary to arrange it theoretically." (author's abstract)

The banking crisis of the Credit Lyonnais required several bailouts from the French government, & bad debts reaching $24.22 billion dollars. Many considered the bank's problems to be caused by policymakers deeply associated with the heart of the state. Credit Lyonnais was the last of three banks owned by the state, & its president had held the most prestigious post in the French finance ministry & had crafted the banking reform polices & financial market regulation in the 1980s. However, blaming individuals ignores the changing market situation & the rapid innovations in financial services being put in place to compete in a highly innovative & emerging globalizing market; it also ignores the contemporary failures of banks in other countries. The absence of a full investigation of the fiasco, however, has left the world without the benefit of policy learning for similar crises. This study strengthens the argument that the Fifth Republic of France is adapted for agenda-setting & policy design, but has difficulty in policy implementation & evaluation phases. L. A. Hoffman

"First fissures in the West German industrial order were observed in the 1980s when unions divided over how to respond to persistend unemployment. Opposing the reduction od weekly working hours pursued by the left wind of the union movement, the Kohl government invited employers, works councils and dissenting unions to rely on the social security system for reducing the supply of labour. Simultaneously it took steps to curtail union power. For a short time, unification restored tripartite co-operation as government, business and labour worked hand in hand to transfer West German institutions to the new Länder of the east. The ensuing economic crisis, which was exacerbated by the accelerated internationalisation of European economies, drove a wedge in the employers' camp, caused a mismatch between institutionalised union strength and economic conditions, and forced the government to do something about rising social security expenditures and public debt. When in 1996 government attempts at consensual labour market and social security reform failed - mainly due to opposition in the government camp demanding more aggressive intervention - a solution was sought by unilateral legislation. Causing unprecedented union protest while falling short of business demands, it contributed to Kohl's defeat two years later." (excerpt)