scholarly journals Soft Budget Constraints, Government Ownership of Banks and Regulatory Failure: The Political Economy of the Turkish Banking System in the Post-Capital Account Liberalization Era

2002 ◽  
Author(s):  
C. Emre Alper ◽  
Ziya Onis
Keyword(s):  
Political Economy ◽  
Banking System ◽  
The Political ◽  
Capital Account ◽  
Budget Constraints ◽  
Government Ownership ◽  
Capital Account Liberalization ◽  
Soft Budget Constraints ◽  
Regulatory Failure

scholarly journals The Political Economy of a Soviet Military R&D Failure: Steam Power for Aviation, 1932 to 1939

2003 ◽  
Vol 63 (1) ◽  
pp. 178-212 ◽  
Author(s):  
Mark Harrison
Keyword(s):  
Political Economy ◽  
Steam Turbine ◽  
Adverse Selection ◽  
Rent Seeking ◽  
Soviet Economy ◽  
Sunk Costs ◽  
The Political ◽  
Budget Constraints ◽  
Steam Power ◽  
Failed Attempt

The behavior of principals and agents in the interwar Soviet economy can be studied through the failed attempt to develop a new aviation-engine technology based on the steam turbine. Some possible approaches to the evaluation of R&D failure are outlined. Soviet R&D agents competed for funding within a command system. Principals funded ventures in a context of biased information and adverse selection. In the presence of sunk costs budget constraints on individual projects were often loose, but were tightened periodically. There is evidence of rent seeking, but not that rents were distributed deliberately as political gifts to loyal agents.

Challenging triumphalism and convergence: the limits of global liberalization in Asia and Latin America

2000 ◽  
Vol 26 (3) ◽  
pp. 359-379 ◽  
Author(s):  
RICHARD HIGGOTT ◽  
NICOLA PHILLIPS
Keyword(s):  
Latin America ◽  
Cold War ◽  
Latin American ◽  
Global Economy ◽  
The Political ◽  
Capital Account ◽  
Capital Account Liberalization ◽  
Post Cold War ◽  
Policy Ideas ◽  
Future Management

The economic crises in 1997–9 in Asia, Brazil and elsewhere represent collectively the first post-Cold War ‘crisis of globalization’, and a significant set-back for the process of international economic liberalization. Contrary to some arguments, the crises do not represent the final ideological triumph of liberalism in a post-Cold War era. Rather they must be seen as a further spur to rethinking significant aspects of the neoliberal project. A comparative analysis of Asia and Latin America in this context demonstrates that while trade liberalization and a broad neoliberal economic strategy are unlikely to be abandoned, there is strong evidence that the tide of capital account liberalization has turned, and that emerging ‘sites of resistance’ are becoming salient factors in the political equation in the relationships of both regions to the wider global economy. Asian and Latin American responses to the crisis of globalization refute notions of convergence, on which many recent conceptions of the global political economy have rested, and point to the emergence of a genuine contestation of policy ideas that will have significant implications for the future management of the global economic order.

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