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12721. China's Challenge to the West in the 21st Century

Author:
Kees van der Pijl
Publication Date:
04-2008
Content Type:
Working Paper
Institution:
Centre for Global Political Economy, University of Sussex
Abstract:
What follows is based on Global Rivalries: from the Cold War to Iraq. In that book and elsewhere I have developed the theory that the global political economy for several centuries now has been characterised by an evolving core structure juxtaposing an expanding, English-speaking 'West' to a succession of contender states-beginning with France in the late 17th and the 18th centuries; Germany, Japan, and Italy and Austria-Hungary from the late 19th; followed by the Soviet Union. In the 1970s, a Third World Coalition rallied behind a tentative New International Economic Order seeking to impose a state-led world economy on global liberalism through the UN (Krasner 1985). Today, China would be the main contender state challenging Western hegemony.
Topic:
History, Geopolitics, Economy, and Global Political Economy
Political Geography:
China and Asia

12722. Bringing Ideas and Discourse Back into The Explanation of Change in Varieties of Capitalism and Welfare States

Author:
Vivien A. Schmidt
Publication Date:
05-2008
Content Type:
Working Paper
Institution:
Centre for Global Political Economy, University of Sussex
Abstract:
To explain change in the varieties of capitalism and welfare states, a 'discursive institutionalist' approach focused on ideas and discourse is a necessary complement to older 'new institutionalist' approaches. Historical institutionalist approaches have difficulty explaining change, tend to be static and equilibrium-focused, and even where they get beyond this through accounts of incremental change, these are more descriptive than they are explanatory of change. The turn to rational choice institutionalist approaches for agency and 'micro-foundations' to historical institutionalist 'macropatterns' also does not solve the problems of historical institutionalism. A turn to discursive institutionalism could. Using examples of reforms in national political economies and welfare states in 'liberal', 'coordinated',and'state-influenced' market economies, the paper illustrates how ideas and discourse help explain the dynamics of change (and continuity).
Topic:
Political Economy, Capitalism, and Welfare State
Political Geography:
Global Focus

12723. Critical Approaches and the Problem of Social Construction: Reassessing the Legacy of the Agent/Structure Debate in IR

Author:
Samuel Knafo
Publication Date:
06-2008
Content Type:
Working Paper
Institution:
Centre for Global Political Economy, University of Sussex
Abstract:
Conceptualizing the process of social change in IR has proved more elusive than initially thought. If the notion of agency that was proposed to capture this moment gained great saliency in the field, it has had surprisingly limited analytical effects on the discipline of IR. Hence, many can agree that social actors have agency, but very few have managed to set up an agenda that uses this notion in productive ways. Discussions about agency often remain meta-theoretical, and have had arguably little effect on the concrete studies in the field. This paper argues that debates over agency have failed to produce a satisfactory response to the question of how critical theories should approach social construction largely because they have missed what is ultimately at stake in thinking about social change and agency. Seeking in the latter an alternative form of causality that could be distinguished from structural reproduction, they created a dualism that was bound to be unproductive. Adopting a different perspective, this article revisits the structure agency debate with the aim of demonstrating that the notion of agency is fundamental to a critical perspective on social construction. It argues that introducing agency within our epistemological framework does not offer a solution for understanding social construction, but rather helps us frame the problematic of social construction itself in ways that pushes critical theory away from the reifying glance of positivism. More specifically, it uses agency as a means to problematise power as practice, arguing that, too often, critical theories take this aspect for granted. As a result they miss what exactly is being negotiated in struggles over power.
Topic:
International Relations, Social Change, and Critical Theory
Political Geography:
Global Focus

12724. Assessing External Effects of City Airports: Land Values in Berlin

Author:
Gabriel Ahlfeldt and Wolfgang Maennig
Publication Date:
04-2008
Content Type:
Working Paper
Institution:
Chair for Economic Policy, University of Hamburg
Abstract:
This paper employs a hedonic price model to explain standard land values in Berlin. Impact on land values is assessed for the two city airports situated in Berlin, Germany, Tempelhof and Tegel. Empirical results confirm expectations about the impact of various attributes on land values. Areas exposed to noise pollution of downtown airport Tempelhof sell at a discount of approximately 5-9% within a distance of 5000 m along the air corridor. No significantly negative impact was found for land values around Tegel Airport, which is located in a central, but less densely populated, area. Market access indicators created for all three Berlin airports in operation, including Berlin Schoenefeld International Airport, reveal clear location advantages in terms of accessibility of Tempelhof and Tegel compared to Schoenefeld Airport, where the new Berlin Brandenburg International Airport is about to be developed.
Topic:
Infrastructure, Land, and Airports
Political Geography:
Germany, Berlin, and United States of America

12725. Investment in Stadia and Regional Economic Development – Evidence from FIFA World Cup 2006

Author:
Arne Feddersen, André L. Grötzinger, and Wolfgang Maennig
Publication Date:
10-2008
Content Type:
Working Paper
Institution:
Chair for Economic Policy, University of Hamburg
Abstract:
Using the case of the new stadiums for the FIFA World Cup 2006 in Germany, this paper is the first multivariate work that examines the potential income and employment effects of new stadiums outside of the USA. This study is also the first work on this topic that conducts tests on the basis of a (serial correlation consistent) Difference-in-Difference model with level and trends. As a robustness check, we use the “ignoring time series information” model in a form that is modified for nonsynchronous interventions. We were not able to identify income or employment effects of the construction of new stadiums for the FIFA World Cup 2006, which are significantly different from zero.
Topic:
Development, Economics, Infrastructure, Sports, Regional Economy, and Stadiums
Political Geography:
Europe and Germany

12726. Monument Protection: Internal and External Price Effects

Author:
Gabriel Ahlfeldt and Wolfgang Maennig
Publication Date:
04-2008
Content Type:
Working Paper
Institution:
Chair for Economic Policy, University of Hamburg
Abstract:
This paper analyses the impact of heritage-listed buildings on condominium transaction prices in Berlin, Germany. We use transaction data to test for price differentials between listed and nonlisted properties and to study their impact on surrounding property prices. Proximity to built heritage is captured by distance to listed houses and indicators capturing neighborhoods with built heritage. Impact is assessed by applying a hedonic model to micro-level data and a non-parametric approach to location. While our findings suggest that listed properties do not sell at a premium or discount, heritage-listed buildings are found to have positive external effects on surrounding property prices.
Topic:
Economics, Culture, Heritage, and Real Estate
Political Geography:
Europe, Germany, and Berlin

12727. The Feel-good Effect at Mega Sports Events. Recommendations for Public and Private Administration Informed by the Experience of the FIFA World Cup 2006

Author:
Wolfgang Maennig and Marcel Porsche
Publication Date:
02-2008
Content Type:
Working Paper
Institution:
Chair for Economic Policy, University of Hamburg
Abstract:
One of the most important social effects of the 2006 football World Cup was the feel-good effect. The present contribution is one of the first to deal with the development of a general theory for the management of feel-good effects and systematically analyses the influencing factors taking the 2006 World Cup as an example. Of importance are suitable basic organizational and infrastructure conditions in the realms of security, transport, and ecology. The media activities of public and private sponsors should break away from the traditional narrow focus and classic brand sponsoring in favor of a more socially responsible sponsoring. Sporting success of the home team is important, which may be due in equal measures to the style of play of the team and its demeanor. The creation of generally accessible participation opportunities through free TV in the host country and the setting up of fan festivals can counteract any frustration that might arise from the allocation of ad-mission tickets. Any targeted manipulation of the weather may be considered with due regard to possible ecological implications.
Topic:
Economics, Sports, Media, and World Cup
Political Geography:
Europe and Germany

12728. South Africa 2010: Economic Scope and Limits

Author:
Swantje Allmers and Wolfgang Maennig
Publication Date:
01-2008
Content Type:
Working Paper
Institution:
Chair for Economic Policy, University of Hamburg
Abstract:
This contribution provides an ex post analysis of the economic impacts of the two most recent single-country World Cups (WCs), Germany 2006 and France 1998. Based on macroeconomic indicators, the experiences of these WCs appear to be in line with existing empirical research on large sporting events and sports stadiums, which have rarely identified significant net economic benefits. Of more significance are the novelty effects of the stadiums, and “intangible effects” such as the image effect for the host nations and the feel-good effect for the population. The experiences of former WCs provide a context for analysing the scope and limits for South Africa 2010. Like previous host countries, South Africa might have to cope with difficulties such as the underuse of most WC-stadiums in the aftermath of the tournament. On the other hand, this paper examines a handful of arguments why South Africa might realise larger economic benefits than former hosts of WCs, such as the absence of the northern-style ‘couch potato effect’ and the absence of negative crowding-out effects on regular tourism. Furthermore, the relative scarcity of sport arenas in South Africa might induce a larger positive effect than in countries with ample provision of sports facilities. In addition, against the backdrop of continuous declines in South African poverty since 2001, the novelty effect of new stadiums might be of special importance. Finally, the innovative South African ambitions to use stadiums with ‘signature architecture’ as a tool for urban development or to generate external effects for the regional economy are different from former WCs.
Topic:
Sports, World Cup, Regional Economy, Soccer, and Stadiums
Political Geography:
Africa and South Africa

12729. Evolving Capabilities of the People’s Liberation Army: Consequences of Coercive Aerospace Power for U.S. Conventional Deterrence

Author:
Randall Schriver and Mark Stokes
Publication Date:
08-2008
Content Type:
Working Paper
Institution:
Project 2049 Institute
Abstract:
How the PRC could apply force as an instrument of national power may be more significant than specific technical capabilities it develops and fields. An increasingly sophisticated arsenal of advanced weapon systems serves as an enabler for the PRC to expand its range of options for exercising coercive uses of force to resolve differences with democracies in the region.
Topic:
Armed Forces, Deterrence, Military, People's Liberation Army (PLA), and Aerospace
Political Geography:
China, Asia, and United States of America

12730. Foreign Exposure to Asset-Backed Securities of U.S. Origin

Author:
Daniel O. Beltran, Laurie Pounder, and Charles Thomas
Publication Date:
08-2008
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
The financial turmoil which began in August 2007 originated, in part, because investors reassessed the quality of the assets underlying many asset-backed securities (ABS), particularly U.S. mortgages. The prominence of European banks in the early stages of the turmoil created the perception that foreigners held an outsized share of risky U.S. securities and prompted questions of why Europeans were so exposed. This paper evaluates that perception by quantifying foreign exposure to ABS with U.S. underlying collateral. Using the latest survey data on foreign portfolio holdings of U.S. securities, we find that the ultimate losses that foreigners could incur arising from U.S. underlying assets are small relative to most scale variables, although initial total mark-to-market losses are estimated to be significantly larger. Among other reasons for this difference between ultimate and initial losses, we demonstrate that the securitization chain can amplify mark-to-market price declines in the presence of uncertainty or illiquidity. Finally, we show that, relative to the size of the market, foreigners’ holdings of U.S. mortgage-backed securities do not appear to be elevated compared with their holdings of other U.S. assets.
Topic:
Economics, Financial Crisis, Financial Markets, and Mortgages
Political Geography:
United States and North America