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Working paper
Differential treatment in the bond market: Sovereign risk and mutual fund portfolios
In: Journal of international economics, Band 145, S. 103823
ISSN: 0022-1996
Differential Treatment in the Bond Market: Sovereign Risk and Mutual Fund Portfolios
In: FRB International Finance Discussion Paper No. 1261
SSRN
Working paper
The fate of young democracies
The recent backlash against democracy in such countries as Bolivia, Venezuela, Russia, and Georgia poses renewed concerns about the viability of this regime type in the developing world. Drawing on a unique data set of every democratization episode since 1960, this book explores the underlying reasons for backsliding and reversal in the world's fledgling democracies and offers some proposals with respect to what the international community might do to help these states stay on track toward political stability. Rejecting earlier scholarship on this topic, Kapstein and Converse argue that the core of the problem is found in the weak institutions that have been built in much of the developing world, which encourage leaders to abuse their power. Understanding the underlying reasons for democratic failure is essential if we are to offer policy recommendations that have any hope of making a difference on the ground
Poverty, Inequality, and Democracy: Why Democracies Fail
In: Journal of democracy, Band 19, Heft 4, S. 57-68
ISSN: 1086-3214
Abstract: Based on a new data set of democratizations occurring between 1960 and 2004, this paper explores the reasons for reversals in young democracies. Adverse initial conditions including poverty, inequality, and ethnic fragmentation are associated with the failure of democracy, but the relationship is not deterministic. Likewise, numerous young democracies have survived in spite of disastrous economic performance. Political institutions play a key role in preventing a return to authoritarianism, but the effectiveness of constraints on executive power appears more important than whether the regime is parliamentary or presidential in structure. These findings suggest a need for greater coordination between democracy promotion assistance and aid intended to foster economic development.
The Threat to Young Democracies
In: Survival: global politics and strategy, Band 50, Heft 2, S. 127-140
ISSN: 1468-2699
The threat to young democracies
In: Survival: global politics and strategy, Band 50, Heft 2, S. 127-140
ISSN: 0039-6338
Recent backsliding in such countries as Bolivia, Venezuela, Georgia and Russia has raised concerns about the viability of democracy in the developing world. Understanding why fledgling democracies sometimes fail is essential for determining what the international community might do to help such states stay on track toward political stability. In particular, public officials in both the industrial and developing worlds should adopt the policy mix (including foreign-aid policies) best suited to democratic consolidation, with a focus on ensuring that government leaders, who might otherwise abuse their power, are constrained by effective checks and balances. (Survival / SWP)
World Affairs Online
Why Democracies Fail
In: Journal of democracy, Band 19, Heft 4, S. 57-68
ISSN: 1045-5736
U.S. Housing as a Global Safe Asset: Evidence from China Shocks
In: International Finance Discussion Paper No. 1332
SSRN
The economics of young democracies: policies and performances
In: Working Paper, No. 85
World Affairs Online
How ETFs Amplify the Global Financial Cycle in Emerging Markets
In: FRB International Finance Discussion Paper No. 1268
SSRN
Working paper
Poverty, inequality, and democracy (I)
In: Journal of democracy, Band 19, Heft 4, S. 56-109
ISSN: 1045-5736
Kapstein, E. B.: Why democracies fail. - S. 57-68 Fukuyama, F.: The Latin American experience. - S. 69-79 Orenstein, M. A.: Postcommunist welfare states. - S. 80-94 Lewis, P.: Growth without prosperity in Africa. - S. 95-109
World Affairs Online
Democratic Careening
In: World politics: a quarterly journal of international relations, Band 65, Heft 4, S. 729-763
ISSN: 0043-8871