Search Results

The Sovereignty Paradox

Dominik Zaum

in The Sovereignty Paradox: The Norms and Politics of International Statebuilding

This last chapter brings together the findings from the analysis, and raises a range of theoretical and practical questions that arise from the analysis of the normative framework underlying ... More

This last chapter brings together the findings from the analysis, and raises a range of theoretical and practical questions that arise from the analysis of the normative framework underlying statebuilding. Part One discusses the implications of the findings for our understanding of the role of sovereignty in international society. Part Two considers the implications of the book's findings for the governance and development efforts of international administrations. It examines whether international administrations possess the legitimacy and authority themselves that they try to establish in the territories they govern and restructure, and how their authority could be strengthened. It also looks at some of the pathologies of international administration, and concludes by discussing what the book's findings suggests for exit strategies of international administrations.Less

Exit Strategies

Richard Caplan

in International Governance of War-Torn Territories: Rule and Reconstruction

Explores how, and under what circumstances, international authorities should withdraw from the administration of a territory. Whereas elections were once viewed as the capstone of international ... More

Explores how, and under what circumstances, international authorities should withdraw from the administration of a territory. Whereas elections were once viewed as the capstone of international involvement, as in Cambodia, transitional authorities today are focused additionally on the development of institutional safeguards (for minority groups, for instance) that, it is hoped, will endure beyond the transitional period. Other approaches include a phased exit strategy whereby the pace of transfer is commensurate with the demonstrated ability of the local leadership to meet specified benchmarks. Follow-on measures—a role for which regional organizations may be particularly well suited—are also important to reinforce positive results, as are regional stabilization measures, such as the incentive structure represented by the prospect of membership in regional and international organizations.Less

Living and Dying with Hard Pegs: The Rise and Fall of Argentina's Currency Board

Augusto de la Torre, Eduardo Levy Yeyati, and Sergio L. Schmukler

in Monetary Unions and Hard Pegs: Effects on Trade, Financial Development, and Stability

The rise and fall of Argentina’s currency board illustrates the extent to which the advantages of hard pegs have been overstated. The currency board did not promote fiscal or monetary discipline, and ... More

The rise and fall of Argentina’s currency board illustrates the extent to which the advantages of hard pegs have been overstated. The currency board did not promote fiscal or monetary discipline, and fostered nominal stability and financial intermediation only at the cost of endogenous financial dollarization. Ultimately the failure adequately toaddress the currency-growth-debt trap, into which Argentina had fallen at the end of the 1990s, precipitated a run on the currency and on the banks, triggering a currency collapse and a sovereign debt default. The crisis, rooted in the underlying weaknesses of Argentina’s monetary regime, can best be interpreted as a bad outcome of a high-stakes strategy to overcome a weak-currency problem. To increase the credibility of the hard peg, the government raised its exit costs, which deepened the crisis once exit could no longer be avoided.Less

Dynamics of Crises

Giovanni Piersanti

in The Macroeconomic Theory of Exchange Rate Crises

In order to describe the path followed by major macroeconomic variable around the time of crises, this chapter examines some dynamic models. It thus shows how the dynamic adjustment path of the ... More

In order to describe the path followed by major macroeconomic variable around the time of crises, this chapter examines some dynamic models. It thus shows how the dynamic adjustment path of the economy associated with exchange rate based stabilization plan can be linked to currency crisis. How expected changes in future government's policies can affect the timing of attacks. How a run on central bank's foreign reserves can emerge in a context of consistent and flexible policy rules. How policymakers can elude speculative attacks by introducing uncertainty into the speculators' decisions. That the domestic currency often stays overvalued for a long period. That large discrete devaluations occur after the peg is abandoned. That the domestic interest rates tend to rise in the run up to the crisis. That speculative runs often occur in a multi-period context giving rise to alternating phases of “tranquillity” and “distress”. That asset price dynamics plays a critical role in triggering a full-blown financial crisis.Less

Epilogue

Robert G. Kaufman

in In Defense of the Bush Doctrine

In the last quarter of 2003, the situation in Iraq worsened as combat deaths and sectarian violence increased significantly, prompting several proponents of the war to reconsider their position in ... More

In the last quarter of 2003, the situation in Iraq worsened as combat deaths and sectarian violence increased significantly, prompting several proponents of the war to reconsider their position in the face of impending defeat. Although President Bush has not specified an exit strategy, he did agree to the creation of the Baker Commission, which is in favor of the withdrawal of troops from the Middle East and negotiating with Syria and Iran. He also appointed Robert Gates, a known realist, to replace Donald Rumsfeld as Secretary of Defense. No matter what happens in Iraq, the general principles underlying the Bush Doctrine remain valid and should serve as a guide for the US in crafting a foreign policy that is consistent with American ideals and is geared toward ensuring the security of the free world.Less

Exit and Peace Support Operations

William J. Durch

in Exit Strategies and State Building

This chapter is about exit strategies and complex peace support operations (PSOs). It sets up a typology of operations that emphasizes the degree of operational involvement in and authority over ... More

This chapter is about exit strategies and complex peace support operations (PSOs). It sets up a typology of operations that emphasizes the degree of operational involvement in and authority over postconflict state-building. It examines alternatives to outright mission success as sources of mission exit and notes the common sources of such shortfalls. It examines the debate that continues about how much state-building is enough to ensure a reasonable chance of successful exit—a debate that arose when holding national elections was abandoned in the 1990s as sufficient reason for a complex operation to draw down and leave. That shift changed PSO exits from an event to a sometimes-extended process, whose successful implementation requires continuing, high-level political cover, over which the operation often has little control.Less

Collective Exit Strategies: New Ideas in Transnational Labour Law

Silvana Sciarra

in The Idea of Labour Law

The metaphor ‘exit strategy’ is often used in current European discussions, in connection with the impact of the economic and financial crisis. This chapter adapts the same metaphor to the role of ... More

The metaphor ‘exit strategy’ is often used in current European discussions, in connection with the impact of the economic and financial crisis. This chapter adapts the same metaphor to the role of collective actors. An accentuated mobility of companies and labour generates new transnational collective interests and challenges traditional ideas in labour law. Hierarchies of sources are frequently dismantled and denationalization takes place in regimes of standard setting. Transnational juridification of new social spheres occurs in a very open and unstructured way. Solidarity addresses issues of differentiation, rather than integration, following the needs of the most vulnerable ones, badly hit by the crisis. In this scenario, labour law is searching new answers to questions of legitimacy and power. Thus, theories of democratic representation need to be reset, facing the spreading of new transnational collective actors.Less

‘Blood and Treasure’: Exiting the Great Depression and Lessons for Today

Kris James Mitchener and Joseph Mason

in The Great Depression of the 1930s: Lessons for Today

Although avoiding the policy mistakes of the 1930s helped define how policy makers responded to the 2007–08 financial crisis and ensuing recession, policy applications to the recovery phase are less ... More

Although avoiding the policy mistakes of the 1930s helped define how policy makers responded to the 2007–08 financial crisis and ensuing recession, policy applications to the recovery phase are less well understood. This chapter draws on the experience of the US in the 1930s to shed light on exit strategies—movements back to institutional conditions associated with steady growth—including stable inflation and broadly non-interventionist credit- and capital-market policies. We describe how policy responses to the deflation and the banking crises of the 1930s coloured the exit policy debate after the Great Depression. We show that a full exit from the Great Depression did not occur in the 1930s. It took until the 1950s for this to occur and for the Federal Reserve to regain its independence and return unfettered to its longer-run objectives.Less

UN‐led reconstruction following UN‐led negotiations: El Salvador 2

Graciana del Castillo

in Rebuilding War-Torn States: The Challenge of Post-Conflict Economic Reconstruction

In El Salvador, the UN mediated a peace agreement and ONUSAL played a major supporting role in its implementation. An elected government made all executive decisions and set priorities for economic ... More

In El Salvador, the UN mediated a peace agreement and ONUSAL played a major supporting role in its implementation. An elected government made all executive decisions and set priorities for economic reconstruction, in consultation with the FMLN. Many consider El Salvador's war-to-peace transition the most successful in the post-Cold War period, owing to its emphasis on DDR programs and to a clear exit strategy for ONUSAL as the country moved into normal development. This chapter illustrates how a business-as-usual approach by the UN and the IMF led to confrontations as the separate economic and peace processes moved forward and how the FMLN stopped demobilization, blaming the government for delays in the arms-for-land program. The chapter analyzes how public debate led to better coordination and greater fiscal flexibility in the IMF-supported program, avoiding the return to war. The chapter also looks at the UN performance in economic reconstruction and draws lessons.Less

Exit Strategies in Private Equity

Didier Folus and Emmanuel Boutron

in Private Equity: Opportunities and Risks

The main goal of a PE fund manager is to receive a return in excess of the price paid for the companies in the portfolio at the time of exit. Various exit strategies are available to fund managers ... More

The main goal of a PE fund manager is to receive a return in excess of the price paid for the companies in the portfolio at the time of exit. Various exit strategies are available to fund managers including a trade sale, which is the sale of the company to another PE firm or a secondary buyout for a medium or large portfolio company. Another way to exit is an initial public offering (IPO). A more recent exit strategy is for the portfolio company to pay a preferred dividend to the PE fund in order to repay the initial invested amount. This strategy is also known as a dividend recapitalization, which is sometimes financed with additional debt. Financial economics can help inform the PE fund’s GPs about the different exit routes. Pecking order theory, agency costs, and information asymmetry each offer relevant scientific arguments explaining the observed behaviors.Less

Exit

Paul D. Williams

in Fighting for Peace in Somalia: A History and Analysis of the African Union Mission (AMISOM), 2007-2017

This chapter analyses the major challenges AMISOM faced in trying to develop and implement a successful exit strategy. It begins by summarizing the different modes of exit that are usually available ... More

This chapter analyses the major challenges AMISOM faced in trying to develop and implement a successful exit strategy. It begins by summarizing the different modes of exit that are usually available to peace operations and discusses how some of these occurred in earlier foreign military operations in Somalia since the early 1990s. It then examines the evolution of AMISOM’s exit strategy as articulated in various official documents. Five major challenges to implementing a successful exit strategy are discussed in the third section, while the conclusion briefly summarizes how, by mid-2017, AMISOM had developed a framework agreement to guide the handover of the lead security role to Somali security forces.Less

“We’ll Build Our Own Thing”: The Exit Strategy of the National Association of Black Social Workers

Joyce M. Bell

in The Black Power Movement and American Social Work

This chapter discusses how not all black social worker activists decided to work within organizations. The social workers who chose to participate with organizations eventually created an autonomous ... More

This chapter discusses how not all black social worker activists decided to work within organizations. The social workers who chose to participate with organizations eventually created an autonomous institution, the National Association of Black Social Workers (NABSW). The chapter presents the historical context of NABSW's emergence, examining their grievances, demands, strategies and tactics, and outcomes of the mobilization. Through an analysis of the content of their movement activities and the culture of the organization, the chapter argues that NABSW's struggle, while starting as a demand for more substantial voice within the profession, ultimately employed an exit strategy, which led to their separation from the National Conference on Social Welfare (NCSW) to pursue their goals independent of the restrictions of the larger professional organization.Less

Specter of vietnam

Trinh T. Minh-ha

in Lovecidal: Walking with the Disappeared

This chapter discusses the problem of an exit strategy during the final days of the George W. Bush administration and how these issues echo the U.S. policy on Vietnam of many years before. It goes ... More

This chapter discusses the problem of an exit strategy during the final days of the George W. Bush administration and how these issues echo the U.S. policy on Vietnam of many years before. It goes further, however, to analyze how the Obama administration approached future conflict in its initial years. On the one hand, the Bush administration's official storyline had revived the familiar paranoia of having victory turned over to the enemies. On the other, the exit strategy for withdrawal also raised widespread doubt about what was achievable in Iraq and Afghanistan and what the comprehensive results of the Iraq War turned out to be. The classic double bind thus wrote itself into every discussion of the “post-Iraq” era of U.S. foreign policy.Less

The Problem

Thomas Princen, Jack P. Manno, and Pamela L. Martin

in Ending the Fossil Fuel Era

Ending the Fossil Fuel Era means beginning a delegitimization, or reconceptualization and revalorization of fossil fuels or, to be precise, humans’ relations with fossil fuels. The authors argue for ... More

Ending the Fossil Fuel Era means beginning a delegitimization, or reconceptualization and revalorization of fossil fuels or, to be precise, humans’ relations with fossil fuels. The authors argue for a shift from fossil fuels as a constructive substance. To do this, a pragmatic, realist politics of the 21st Century toward starting to stop is needed. In this chapter, the authors outline the biophysical, cultural, ethical, and material reasons why only mitigating the impacts of carbon, rather than going to its source in the ground is denying the real issues and opportunities for this and the next centuries. They challenge readers to use a politics of imaginative realism to undertake an urgent transition.Less

Medical Care Overseas

Dom Colbert

in MCQs in Travel Medicine

One is never really prepared for a mishap or an illness overseas, and whenever such an eventuality occurs one is faced with the problem of accessing the best local treatment. The travel health ... More

One is never really prepared for a mishap or an illness overseas, and whenever such an eventuality occurs one is faced with the problem of accessing the best local treatment. The travel health provider at home should always advise the traveller about the need to check out travel insurance and local medical facilities in the destination before travel, especially in the case of long-term or high-risk travellers. In addition, the traveller should be given a contact number for the clinic in his or her home country and be instructed to use this contact whenever necessary. Less

Smoothing—median values

Steve Selvin

in The Joy of Statistics: A Treasury of Elementary Statistical Tools and their Applications

As the term smoothing suggests, data are made more similar to represent a clearer and more accessible picture of the relationships within the collected data.