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Full-Text Articles in Social and Behavioral Sciences
European Monetary Integration : Experiences And Future Prospects, Dieter Cassel, Thomas Apolte
European Monetary Integration : Experiences And Future Prospects, Dieter Cassel, Thomas Apolte
CAPS Working Paper Series
In November 1991, some 12 years after the installation of the European Exchange-Rate Mechanism (ERM), a further step towards monetary integration in Europe was decided upon in Maastricht. This has led to an intensive debate among politicians and economists about the potential benefits and drawbacks of a European Monetary Union (EMU). In Germany, it is first and foremost the "scientific community", which doubts the benefits and emphasizes the risks concerning EMU (see BABELER; et. Al., 1992; BAREIS; et al., 1992), while most politicians and managers accentuate the benefits rather than the risks. In the other member countries, however, the situation …
China's Rise, Russia's Fall : Policy Choice Or System Difference, Peter Nolan
China's Rise, Russia's Fall : Policy Choice Or System Difference, Peter Nolan
Centre for Public Policy Studies : CPPS Working Paper Series
This paper outlines the major policy differences between the post-Stalinist reform in the former USSR and China (Section 1). It then briefly presents the dramatic contrast in outcomes in the two cases (Section 2). The usual explanation is to suggest that the two systems had radically different starting points, with large differences in their respective capacities for 'catching up, forging ahead and falling behind', to use the terminology of Abramowitz (1986). China's 'success.' is seen as mainly due to 'special' factors such as the strength of its historical traditions of 'capitalism' and the advantages enjoyed on account of the impact …