Pub Date : 2021-03-11DOI: 10.1093/LAW/9780198870937.001.0001
Colin Edelman
1. Functions, Definitions, and Types of Reinsurance Historical background The Functions of Reinsurance Fronting Retrocession A Legal Definition of Reinsurance Types and Methods of Reinsurance Proportional Reinsurance Non-proportional Reinsurance Facultative and Treaty Reinsurance Facultative reinsurance Treaty Reinsurance Proportional Treaty Reinsurance Non Proportional Treaties A Hybrid Method of Reinsurance - Facultative Obligatory 2. The Formation of the Reinsurance Contract Elements of a Contract Slips and Policies Formation of Treaties Writing Reinsurance at Lloyds Brokers and Intermediaries 3. The Reinsurance Contract - Construction and Terms Construction of Reinsurance Contracts Incorporation Implied terms 4. Obligations of the reinsurer Reinsurer's obligation to indemnify the reinsured Obligation to follow any judgment entered against the reinsured Loss Settlements Clauses Follow the settlements "Pay as may be paid thereon" / "Pay as may be paid thereon and to follow their settlements" Follow the Fortunes Diminution in the loss Aggregation Losses Discovered or Claims Made Clause Aggregate Extension Clauses Limitation: When does the reinsurer's liability to indemnify its reinsured arise? 5. Rights of the Reinsurer Payment of premium Claims Co-operation Clause / Claims Control Clause Inspection of Reinsured's Records Declaratory Relief Subrogation 6. Denying Liability Non-disclosure and misrepresentation Elements of the Duty of Utmost Good Faith Breach of the Duty of Utmost Good Faith Conditions and warranties Conditions Notification Limitation 7. Applicable Law and Jurisdiction Applicable Law Jurisdiction
{"title":"The Law of Reinsurance","authors":"Colin Edelman","doi":"10.1093/LAW/9780198870937.001.0001","DOIUrl":"https://doi.org/10.1093/LAW/9780198870937.001.0001","url":null,"abstract":"1. Functions, Definitions, and Types of Reinsurance Historical background The Functions of Reinsurance Fronting Retrocession A Legal Definition of Reinsurance Types and Methods of Reinsurance Proportional Reinsurance Non-proportional Reinsurance Facultative and Treaty Reinsurance Facultative reinsurance Treaty Reinsurance Proportional Treaty Reinsurance Non Proportional Treaties A Hybrid Method of Reinsurance - Facultative Obligatory 2. The Formation of the Reinsurance Contract Elements of a Contract Slips and Policies Formation of Treaties Writing Reinsurance at Lloyds Brokers and Intermediaries 3. The Reinsurance Contract - Construction and Terms Construction of Reinsurance Contracts Incorporation Implied terms 4. Obligations of the reinsurer Reinsurer's obligation to indemnify the reinsured Obligation to follow any judgment entered against the reinsured Loss Settlements Clauses Follow the settlements \"Pay as may be paid thereon\" / \"Pay as may be paid thereon and to follow their settlements\" Follow the Fortunes Diminution in the loss Aggregation Losses Discovered or Claims Made Clause Aggregate Extension Clauses Limitation: When does the reinsurer's liability to indemnify its reinsured arise? 5. Rights of the Reinsurer Payment of premium Claims Co-operation Clause / Claims Control Clause Inspection of Reinsured's Records Declaratory Relief Subrogation 6. Denying Liability Non-disclosure and misrepresentation Elements of the Duty of Utmost Good Faith Breach of the Duty of Utmost Good Faith Conditions and warranties Conditions Notification Limitation 7. Applicable Law and Jurisdiction Applicable Law Jurisdiction","PeriodicalId":19574,"journal":{"name":"OUP Catalogue","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-03-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82245749","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-10-31DOI: 10.1093/OSO/9780190645410.001.0001
William G. Gale
America faces two distinct but related economic challenges. Steadily rising federal debt—largely fueled by rising healthcare costs and an aging population that will boost spending on Social Security, Medicare, and Medicaid—will make it harder to grow the nation’s economy, boost living standards, respond to wars or recessions, address social needs, and maintain the US role as a global leader. At the same time, an increasingly fractured society has left many people behind and let critical investments lag, even as overall prosperity has grown. How and when US citizens address these challenges will help determine the future they build for themselves and their children. This book proposes a remedy with three core elements: controlling entitlement spending in ways that preserve and enhance the programs’ anti-poverty and social insurance roles; betting on the future by stipulating major new public investments in human and physical capital; and raising and reforming taxes to pay for government services fairly and efficiently. Together, these changes would control federal borrowing, strengthen the economy, increase opportunity, reduce inequality, and build better lives for current and future generations. There is no need to kill popular programs or starve government. Indeed, a primary goal of fiscal reform is to maintain and enhance the vital functions that government provides. The country needs to act responsibly, pay for the government it wants, and shape that government in ways that serve it best.
{"title":"Fiscal Therapy","authors":"William G. Gale","doi":"10.1093/OSO/9780190645410.001.0001","DOIUrl":"https://doi.org/10.1093/OSO/9780190645410.001.0001","url":null,"abstract":"America faces two distinct but related economic challenges. Steadily rising federal debt—largely fueled by rising healthcare costs and an aging population that will boost spending on Social Security, Medicare, and Medicaid—will make it harder to grow the nation’s economy, boost living standards, respond to wars or recessions, address social needs, and maintain the US role as a global leader. At the same time, an increasingly fractured society has left many people behind and let critical investments lag, even as overall prosperity has grown. How and when US citizens address these challenges will help determine the future they build for themselves and their children. This book proposes a remedy with three core elements: controlling entitlement spending in ways that preserve and enhance the programs’ anti-poverty and social insurance roles; betting on the future by stipulating major new public investments in human and physical capital; and raising and reforming taxes to pay for government services fairly and efficiently. Together, these changes would control federal borrowing, strengthen the economy, increase opportunity, reduce inequality, and build better lives for current and future generations. There is no need to kill popular programs or starve government. Indeed, a primary goal of fiscal reform is to maintain and enhance the vital functions that government provides. The country needs to act responsibly, pay for the government it wants, and shape that government in ways that serve it best.","PeriodicalId":19574,"journal":{"name":"OUP Catalogue","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76907054","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-01-26DOI: 10.1093/ACPROF:OSO/9780190279523.001.0001
Yi-chong Xu
Electricity is a basic requirement for a modern economy, and transmission grids at the center of transition to a low-carbon power system. They are the principal means to integrate large shares of wind and solar power and they are essential to ensuring a secure and reliable electricity supply. Grid companies around the world are struggling to find their niche in this transition. The State Grid Corporation of China (SGCC) is one of the principal players in this round of global competition. Central state-owned enterprise (SOEs), such as SGCC, continue to hold the 'commanding heights' of the Chinese economy. Their relationship with the Party-state is crucial to understanding the questions of whether SOEs take orders from, and do the bidding of, the Chinese Communist Party, and how they operate under the state ownership and with a wide range of operational autonomy and expectation that they are profit-maximazing corporations. This book examines the origin, development and expansion of SGCC, the world's largest utility company and the 7th largest corporation. By telling both the electricity story and the SOE story, it provides insights into the challenges facing the grids and their possible futures. It challenges the orthodox account of Chinese politics that portrays SOEs as little more than puppets, jumping to every demand of the Party-state. It shows that SGCC has been built into a modern corporation by entrepreneurial managers. By extending its operation to four continents, SGCC is now a global player, competing with its peers and also having its input in the future low-carbon electricity system. This book challenges the popular interpretation of Chinese government. Piling detail on detail, it provides a comprehensive picture of Chinese political economy that is both new and utterly convincing.
{"title":"Sinews of Power: Politics of the State Grid Corporation of China","authors":"Yi-chong Xu","doi":"10.1093/ACPROF:OSO/9780190279523.001.0001","DOIUrl":"https://doi.org/10.1093/ACPROF:OSO/9780190279523.001.0001","url":null,"abstract":"Electricity is a basic requirement for a modern economy, and transmission grids at the center of transition to a low-carbon power system. They are the principal means to integrate large shares of wind and solar power and they are essential to ensuring a secure and reliable electricity supply. Grid companies around the world are struggling to find their niche in this transition. The State Grid Corporation of China (SGCC) is one of the principal players in this round of global competition. Central state-owned enterprise (SOEs), such as SGCC, continue to hold the 'commanding heights' of the Chinese economy. Their relationship with the Party-state is crucial to understanding the questions of whether SOEs take orders from, and do the bidding of, the Chinese Communist Party, and how they operate under the state ownership and with a wide range of operational autonomy and expectation that they are profit-maximazing corporations. This book examines the origin, development and expansion of SGCC, the world's largest utility company and the 7th largest corporation. By telling both the electricity story and the SOE story, it provides insights into the challenges facing the grids and their possible futures. It challenges the orthodox account of Chinese politics that portrays SOEs as little more than puppets, jumping to every demand of the Party-state. It shows that SGCC has been built into a modern corporation by entrepreneurial managers. By extending its operation to four continents, SGCC is now a global player, competing with its peers and also having its input in the future low-carbon electricity system. This book challenges the popular interpretation of Chinese government. Piling detail on detail, it provides a comprehensive picture of Chinese political economy that is both new and utterly convincing.","PeriodicalId":19574,"journal":{"name":"OUP Catalogue","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2017-01-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79358311","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-01-01DOI: 10.1093/acprof:oso/9780190251918.001.0001
Robert B. Archibald, David H. Feldman
The US higher education system is on the verge of a revolution, so some observers claim. Archibald and Feldman, leading analysts, provide an incisive overview of the challenges facing and possibilities for America's universities and colleges in their training future generations. And they demonstrate that our higher education system is resilient and adaptable enough to weather the internal, external, and technological threats without changing campuses beyond recognition. The Road Ahead examines the threats posed to the current health of higher education by rising tuition and falling government support, as well as from new digital technologies rippling through the entire economy. Some predict disaster, pointing to high costs, exploding debt, and a digital tsunami that supposedly will combine to disrupt and sweep away many of the nation's higher education institutions, or change them beyond recognition. Archibald and Feldman provide a more nuanced view. They argue that the bundle of services that four-year colleges and universities provide will retain its value for the traditional age range of college students. Less certain, Archibald and Feldman argue, is whether the system will continue to be a force for social and economic opportunity. The threats are most dire at schools that disproportionately serve America's most underprivileged students. At the same time, growing income inequality reduces the ability of many students and their families to pay for higher education. Archibald and Feldman suggest a range of policy options at the state and federal level that will help America's higher education system continue to fulfill its promise.
{"title":"The Road Ahead for America's Colleges and Universities","authors":"Robert B. Archibald, David H. Feldman","doi":"10.1093/acprof:oso/9780190251918.001.0001","DOIUrl":"https://doi.org/10.1093/acprof:oso/9780190251918.001.0001","url":null,"abstract":"The US higher education system is on the verge of a revolution, so some observers claim. Archibald and Feldman, leading analysts, provide an incisive overview of the challenges facing and possibilities for America's universities and colleges in their training future generations. And they demonstrate that our higher education system is resilient and adaptable enough to weather the internal, external, and technological threats without changing campuses beyond recognition. The Road Ahead examines the threats posed to the current health of higher education by rising tuition and falling government support, as well as from new digital technologies rippling through the entire economy. Some predict disaster, pointing to high costs, exploding debt, and a digital tsunami that supposedly will combine to disrupt and sweep away many of the nation's higher education institutions, or change them beyond recognition. Archibald and Feldman provide a more nuanced view. They argue that the bundle of services that four-year colleges and universities provide will retain its value for the traditional age range of college students. Less certain, Archibald and Feldman argue, is whether the system will continue to be a force for social and economic opportunity. The threats are most dire at schools that disproportionately serve America's most underprivileged students. At the same time, growing income inequality reduces the ability of many students and their families to pay for higher education. Archibald and Feldman suggest a range of policy options at the state and federal level that will help America's higher education system continue to fulfill its promise.","PeriodicalId":19574,"journal":{"name":"OUP Catalogue","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2017-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74396867","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-11-17DOI: 10.1093/ACPROF:OSO/9780199689132.001.0001
Claire E. Crawford, L. Dearden, J. Micklewright, A. Vignoles
Why do fewer teenagers in England from disadvantaged backgrounds go to university than young people from better-off families? Once at university, how well do poorer students fare compared with other students - who drops out from university and who gets the best degrees? After university - who secures better jobs and higher pay? What really has been the impact on university entry of the controversial increases in tuition fees in 2006 and 2012, especially for students from poorer families? Is there no alternative to charging for university places and what do other countries do? What should governments, universities, and schools do to reduce the gaps in university entry and success by family background? And what advice can be given to families and young people themselves deciding between the costs and benefits of university? This book answers these questions using the latest available evidence, drawing on a wealth of data from administrative records of the school and university system and sample surveys of young people and their families. The authors' analysis of the situation in England is set against a background of evidence for other countries. The book provides much needed dispassionate analysis of issues that are at the forefront of both public policy and popular debate on higher education around the world today.
{"title":"Family Background and University Success: Differences in Higher Education Access and Outcomes in England","authors":"Claire E. Crawford, L. Dearden, J. Micklewright, A. Vignoles","doi":"10.1093/ACPROF:OSO/9780199689132.001.0001","DOIUrl":"https://doi.org/10.1093/ACPROF:OSO/9780199689132.001.0001","url":null,"abstract":"Why do fewer teenagers in England from disadvantaged backgrounds go to university than young people from better-off families? Once at university, how well do poorer students fare compared with other students - who drops out from university and who gets the best degrees? After university - who secures better jobs and higher pay? What really has been the impact on university entry of the controversial increases in tuition fees in 2006 and 2012, especially for students from poorer families? Is there no alternative to charging for university places and what do other countries do? What should governments, universities, and schools do to reduce the gaps in university entry and success by family background? And what advice can be given to families and young people themselves deciding between the costs and benefits of university? This book answers these questions using the latest available evidence, drawing on a wealth of data from administrative records of the school and university system and sample surveys of young people and their families. The authors' analysis of the situation in England is set against a background of evidence for other countries. The book provides much needed dispassionate analysis of issues that are at the forefront of both public policy and popular debate on higher education around the world today.","PeriodicalId":19574,"journal":{"name":"OUP Catalogue","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2016-11-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73978363","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-11-17DOI: 10.1093/ACPROF:OSO/9780199466825.001.0001
N. Prabhu
India, one of the founding members of the World Bank, is also the Bank's single largest borrower since its inception. There are natural curiosities to know how the relationship between the two has evolved through fluctuations in India's political and economic scenario. Has the World Bank's work in India aligned itself with the country's own developmental agenda-facilitating or impeding the nation's progress? Based on years of grassroots-level experience in political processes, Nagesh Prabhu charts out a comprehensive assessment of various facets of this relationship. This book examines the relevance of the World Bank's lending to India across sectors and states, highlighting its influence on structural adjustments during the nation's pre- and post-liberalization phases. Bringing out the role of bureaucracy and industry in the country's negotiations with the Bank, the book also focuses on the effectiveness and impact of World Bank aid to India. It presents a factual reading of the Bank's influence within India's policy circles on sensitive macro-level issues, political upheavals, and state-level interventions in the federal context.
{"title":"Reflective Shadows: Political Economy of the World Bank Lending to India","authors":"N. Prabhu","doi":"10.1093/ACPROF:OSO/9780199466825.001.0001","DOIUrl":"https://doi.org/10.1093/ACPROF:OSO/9780199466825.001.0001","url":null,"abstract":"India, one of the founding members of the World Bank, is also the Bank's single largest borrower since its inception. There are natural curiosities to know how the relationship between the two has evolved through fluctuations in India's political and economic scenario. Has the World Bank's work in India aligned itself with the country's own developmental agenda-facilitating or impeding the nation's progress? Based on years of grassroots-level experience in political processes, Nagesh Prabhu charts out a comprehensive assessment of various facets of this relationship. This book examines the relevance of the World Bank's lending to India across sectors and states, highlighting its influence on structural adjustments during the nation's pre- and post-liberalization phases. Bringing out the role of bureaucracy and industry in the country's negotiations with the Bank, the book also focuses on the effectiveness and impact of World Bank aid to India. It presents a factual reading of the Bank's influence within India's policy circles on sensitive macro-level issues, political upheavals, and state-level interventions in the federal context.","PeriodicalId":19574,"journal":{"name":"OUP Catalogue","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2016-11-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80744140","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-08-01DOI: 10.1093/ACPROF:OSO/9780190279394.001.0001
Ananth Madhavan
In Exchange-Traded Funds and the New Dynamics of Investing, Ananth Madhavan examines the quiet transformation of asset management through the rise of passive or index investing. A closely-related phenomenon is the rise of exchange-traded funds (ETFs). An ETF is an investment vehicle that trades intraday and seeks to replicate the performance of a specific index. ETFs have grown substantially in size, diversity, and market significance in recent years. These trends have generated considerable interest, especially from retail and institutional investors and increasingly from academics, regulators and the press. ETFs have the power to be a disruptive innovation to today's asset management industry because many traditional active managers and hedge funds deliver a significant fraction of their active returns via static exposures to factors like value. Indeed, for the first time ever, assets in global ETFs exceeded $3 trillion in 2015, passing the amount in hedge funds. Available in OSO:
{"title":"Exchange-Traded Funds and the New Dynamics of Investing","authors":"Ananth Madhavan","doi":"10.1093/ACPROF:OSO/9780190279394.001.0001","DOIUrl":"https://doi.org/10.1093/ACPROF:OSO/9780190279394.001.0001","url":null,"abstract":"In Exchange-Traded Funds and the New Dynamics of Investing, Ananth Madhavan examines the quiet transformation of asset management through the rise of passive or index investing. A closely-related phenomenon is the rise of exchange-traded funds (ETFs). An ETF is an investment vehicle that trades intraday and seeks to replicate the performance of a specific index. ETFs have grown substantially in size, diversity, and market significance in recent years. These trends have generated considerable interest, especially from retail and institutional investors and increasingly from academics, regulators and the press. ETFs have the power to be a disruptive innovation to today's asset management industry because many traditional active managers and hedge funds deliver a significant fraction of their active returns via static exposures to factors like value. Indeed, for the first time ever, assets in global ETFs exceeded $3 trillion in 2015, passing the amount in hedge funds. Available in OSO:","PeriodicalId":19574,"journal":{"name":"OUP Catalogue","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2016-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75838122","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-05-01DOI: 10.1093/ACPROF:OSO/9780198777205.001.0001
Douglas B. Fuller
China presents us with a conundrum. How has a developing country with a spectacularly inefficient financial system, coupled with asset-destroying state-owned firms, managed to create a number of vibrant high-tech firms? China's domestic financial system fails most private firms by neglecting to give them sufficient support to pursue technological upgrading, even while smothering state-favoured firms by providing them with too much support. Due to their foreign financing, multinational corporations suffer from neither insufficient funds nor soft budget constraints, but they are insufficiently committed to China's development. Hybrid firms that combine ethnic Chinese management and foreign financing are the hidden dragons driving China's technological development. They avoid the maladies of China's domestic financial system while remaining committed to enhancing China's domestic technological capabilities. In sad contrast, China's domestic firms are technological paper tigers. State efforts to build local innovation clusters and create national champions have not managed to transform these firms into drivers of technological development. These findings upend fundamental debates about China's political economy. Rather than a choice between state capitalism and building domestic market institutions, China has fostered state capitalism even while tolerating the importing of foreign market institutions. While the book's findings suggest that China's state and domestic market institutions are ineffective, the hybrids promise an alternative way to avoid the middle-income trap. By documenting how variation in China's institutional terrain impacts technological development, the book also provides much needed nuance to widespread yet mutually irreconcilable claims that China is either an emerging innovation power or a technological backwater. Looking beyond China, hybrid-led development has implications for new alternative economic development models and new ways to conceptualize contemporary capitalism that go beyond current domestic institution-centric approaches.
{"title":"Paper Tigers, Hidden Dragons: Firms and the Political Economy of China's Technological Development","authors":"Douglas B. Fuller","doi":"10.1093/ACPROF:OSO/9780198777205.001.0001","DOIUrl":"https://doi.org/10.1093/ACPROF:OSO/9780198777205.001.0001","url":null,"abstract":"China presents us with a conundrum. How has a developing country with a spectacularly inefficient financial system, coupled with asset-destroying state-owned firms, managed to create a number of vibrant high-tech firms? China's domestic financial system fails most private firms by neglecting to give them sufficient support to pursue technological upgrading, even while smothering state-favoured firms by providing them with too much support. Due to their foreign financing, multinational corporations suffer from neither insufficient funds nor soft budget constraints, but they are insufficiently committed to China's development. Hybrid firms that combine ethnic Chinese management and foreign financing are the hidden dragons driving China's technological development. They avoid the maladies of China's domestic financial system while remaining committed to enhancing China's domestic technological capabilities. In sad contrast, China's domestic firms are technological paper tigers. State efforts to build local innovation clusters and create national champions have not managed to transform these firms into drivers of technological development. These findings upend fundamental debates about China's political economy. Rather than a choice between state capitalism and building domestic market institutions, China has fostered state capitalism even while tolerating the importing of foreign market institutions. While the book's findings suggest that China's state and domestic market institutions are ineffective, the hybrids promise an alternative way to avoid the middle-income trap. By documenting how variation in China's institutional terrain impacts technological development, the book also provides much needed nuance to widespread yet mutually irreconcilable claims that China is either an emerging innovation power or a technological backwater. Looking beyond China, hybrid-led development has implications for new alternative economic development models and new ways to conceptualize contemporary capitalism that go beyond current domestic institution-centric approaches.","PeriodicalId":19574,"journal":{"name":"OUP Catalogue","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2016-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80101160","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-04-01DOI: 10.1093/ACPROF:OSO/9780190277697.001.0001
Hugo Meijer
In light of the intertwining logics of military competition and economic interdependence at play in US-China relations, Trading with the Enemy examines how the United States has balanced its potentially conflicting national security and economic interests in its relationship with the People's Republic of China (PRC). To do so, Hugo Meijer investigates a strategically sensitive yet under-explored facet of US-China relations: the making of American export control policy on military-related technology transfers to China since 1979. Trading with the Enemy is the first monograph on this dimension of the US-China relationship in the post-Cold War. Based on 199 interviews, declassified documents, and diplomatic cables leaked by Wikileaks, two major findings emerge from this book. First, the US is no longer able to apply a strategy of military/technology containment of China in the same way it did with the Soviet Union during the Cold War. This is because of the erosion of its capacity to restrict the transfer of military-related technology to the PRC. Secondly, a growing number of actors in Washington have reassessed the nexus between national security and economic interests at stake in the US-China relationship by moving beyond the Cold War trade-off between the two in order to maintain American military preeminence vis-a-vis its strategic rivals. By focusing on how states manage the heterogeneous and potentially competing security and economic interests at stake in a bilateral relationship, this book seeks to shed light on the evolving character of interstate rivalry in a globalized economy, where rivals in the military realm are also economically interdependent. Available in OSO:
{"title":"Trading with the Enemy: The Making of US Export Control Policy toward the People's Republic of China","authors":"Hugo Meijer","doi":"10.1093/ACPROF:OSO/9780190277697.001.0001","DOIUrl":"https://doi.org/10.1093/ACPROF:OSO/9780190277697.001.0001","url":null,"abstract":"In light of the intertwining logics of military competition and economic interdependence at play in US-China relations, Trading with the Enemy examines how the United States has balanced its potentially conflicting national security and economic interests in its relationship with the People's Republic of China (PRC). To do so, Hugo Meijer investigates a strategically sensitive yet under-explored facet of US-China relations: the making of American export control policy on military-related technology transfers to China since 1979. Trading with the Enemy is the first monograph on this dimension of the US-China relationship in the post-Cold War. Based on 199 interviews, declassified documents, and diplomatic cables leaked by Wikileaks, two major findings emerge from this book. First, the US is no longer able to apply a strategy of military/technology containment of China in the same way it did with the Soviet Union during the Cold War. This is because of the erosion of its capacity to restrict the transfer of military-related technology to the PRC. Secondly, a growing number of actors in Washington have reassessed the nexus between national security and economic interests at stake in the US-China relationship by moving beyond the Cold War trade-off between the two in order to maintain American military preeminence vis-a-vis its strategic rivals. By focusing on how states manage the heterogeneous and potentially competing security and economic interests at stake in a bilateral relationship, this book seeks to shed light on the evolving character of interstate rivalry in a globalized economy, where rivals in the military realm are also economically interdependent. Available in OSO:","PeriodicalId":19574,"journal":{"name":"OUP Catalogue","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2016-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88649300","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-03-01DOI: 10.1093/ACPROF:OSO/9780198747796.001.0001
Kristina Spohr
Helmut Schmidt is the neglected chancellor of modern German history, overshadowed by 'the greats' - Bismarck, Adenauer, Brandt and Kohl. This volume retrieves Schmidt's true significance as a pivotal figure who helped reshape the global order during the crisis-ridden 1970s. This major reinterpretation, based on detailed research in Schmidt's private papers and numerous archives in Europe and America, reveals him as a leader equally skilled in economics and security, and adept at personal diplomacy, who dared to act as a 'double interpreter' between the superpowers during the nadir of the Cold War. Schmidt was no mere 'crisis-manager': in fact he brought to the chancellorship a depth of reflection, evident in two decades of writings and speeches that justifies considering him an intellectual statesman on a par with Henry Kissinger. His achievements were prodigious. Hailed as the 'world economist', Schmidt helped create the G7 forum for global economic governance and the European Monetary System at a time when capitalism seemed on the rocks. And as the 'strategist of balance', he designed NATO's 'dual-track' response to the crisis caused by the massive Soviet arms buildup of Euro-missiles. This decision, Kristina Spohr argues, played a crucial part in holding together the Western alliance and paved the way to defusing the Cold War in Europe. Schmidt brought his country to the top table of world politics - what he unashamedly called Weltpolitik - as an equal of the wartime victor powers. It was through his Chancellorship that West Germany came of age on the global stage.
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