This book examines the role of Russian and Serbian nationalism in different modes of dissolution of the Soviet Union and Yugoslavia in 1991. Why did Russia's elites agree to the dissolution of the ...Soviet Union along the borders of Soviet republics, leaving twenty-five million Russians outside of Russia? Conversely, why did Serbia's elite succeed in mobilizing Serbs in Croatia and Bosnia for the nationalist cause? Combining a Weberian emphasis on interpretive understanding and counterfactual analysis with theories of nationalism, Veljko Vujačić highlights the role of historical legacies, national myths, collective memories, and literary narratives in shaping diametrically opposed attitudes toward the state in Russia and Serbia. The emphasis on the unintended consequences of communist nationality policy highlights how these attitudes interacted with institutional factors, favoring different outcomes in 1991. The book's postscript examines how this explanation holds up in the light of Russia's annexation of Crimea.
When the regime led by Slobodan Milošević came to an end in October 2000, expectations for social transformation in Serbia and the rest of the Balkans were high. The international community declared ...that an era of human rights had begun, while domestic actors hoped that the conditions that had made a violent dictatorship possible could be eliminated. More than a decade after the International Criminal Tribunal for the Former Yugoslavia initiated the process of bringing violators of international humanitarian law to justice, significant legal precedents and facts have been established, yet considerable gaps in the historical record, along with denial and disagreements, continue to exist in the public memory of the Yugoslav wars.
Guilt, Responsibility, and Denialsets out to trace the political, social, and moral challenges that Serbia faced from 2000 onward, offering an empirically rich and theoretically broad account of what was demanded of the country's citizens as well its political leadership-and how these challenges were alternately confronted and ignored. Eric Gordy makes extensive use of Serbian media to capture the internal debate surrounding the legacy of the country's war crimes, providing one of the first studies to examine international institutional efforts to build a set of public memories alongside domestic Serbian political reaction. By combining news accounts, courtroom transcripts, online discussions, and his own field research, Gordy explores how the conflicts and crimes that were committed under Milošević came to be understood by the people of Serbia and, more broadly, how projects of transitional justice affect the ways society faces issues of guilt and responsibility. In charting the legal, political, and cultural forces that shape public memory,Guilt, Responsibility, and Denialpromises to become a standard resource for studies of Serbia as well as the workings of international and domestic justice in dealing with the aftermath of war crimes.
This substantial essay depicts urban collapse in an exceptionally difficult period of the Serbian capital. The author has marshalled facts, reflections, photographs and other imagesto demonstrate the ...transformation of Belgrade during the Milošević years. With the theoretical grounding of cultural anthropology, history studies, culture of memory, history of art, and urbanism, Mileta Prodanović considers changes to the built environment and urban landscape in the city in the 1990s. He covers many visual aspects of life with great ingenuity: shopping centers, unregulated construction and “wild” modifications of buildings, new buildings (broadcasting studios, shops, homes) that do not fit the surroundings, bad taste in home furnishings (camp, kitsch), boondoggles such as the international art center, problematic historical markers like the obelisk of the eternal flame, billboards, store displays, electoral propaganda, graffiti, grave-markers and cemetery memorials, coins and paper money, calendars, beer labels, and even religious icons (and more). All this information is provided with some critique and much implied comparison to past standards.
This study investigates whether individual top executives have incremental effects on their firms' tax avoidance that cannot be explained by characteristics of the firm. To identify executive effects ...on firms' effective tax rates, we construct a data set that tracks the movement of 908 executives across firms over time. Results indicate that individual executives play a significant role in determining the level of tax avoidance that firms undertake. The economic magnitude of the executive effects on tax avoidance is large. Moving between the top and bottom quartiles of executives results in approximately an 11 percent swing in GAAP effective tax rates; thus, executive effects appear to be an important determinant in firms' tax avoidance.
James Ron uses controversial comparisons between Serbia and Israel to present a novel theory of state violence. Formerly a research consultant to Human Rights Watch and the International Red Cross, ...Ron witnessed remarkably different patterns of state coercion.Frontiers and Ghettospresents an institutional approach to state violence, drawing on Ron's field research in the Middle East, Balkans, Chechnya, Turkey, and Africa, as well as dozens of rare interviews with military veterans, officials, and political activists on all sides. Studying violence from the ground up, the book develops an exciting new framework for analyzing today's nationalist wars.
Broadband and local growth Kolko, Jed
Journal of urban economics,
2012, 2012-1-00, 20120101, Letnik:
71, Številka:
1
Journal Article
Recenzirano
I find a positive relationship between broadband expansion and local economic growth. This relationship is stronger in industries that rely more on information technology and in areas with lower ...population densities. Instrumenting for broadband expansion with slope of terrain leans in the direction of a causal relationship, though not definitively.
The economic benefits of broadband expansion for local residents appear to be limited. Broadband expansion is associated with population growth as well as employment growth, and both the average wage and the employment rate—the share of working-age adults that is employed—are unaffected by broadband expansion. Furthermore, expanding broadband availability does not change the prevalence of telecommuting or other home-based work. Like other place-based policies, expanding broadband availability could raise property values and the local tax base, but without more direct benefits for residents in the form of higher wages or improved access to jobs.
The analysis relies on the uneven diffusion of broadband throughout the United States, allowing comparisons between areas with greater and less growth in broadband availability. I combine broadband data from the Federal Communications Commission, employment data from the National Establishment Time-Series database, and other economic data from the US Census and BLS to examine broadband availability and economic activity in the US between 1999 and 2006.
In any canonical Gaussian dynamic term structure model (GDTSM), the conditional forecasts of the pricing factors are invariant to the imposition of no-arbitrage restrictions. This invariance is ...maintained even in the presence of a variety of restrictions on the factor structure of bond yields. To establish these results, we develop a novel canonical GDTSM in which the pricing factors are observable portfolios of yields. For our normalization, standard maximum likelihood algorithms converge to the global optimum almost instantaneously. We present empirical estimates and out-of-sample forecasts for several GDTSMs using data on U.S. Treasury bond yields.
Consistent with predictions from a stylized Bayesian learning model stock return volatility declines with CEO tenure in a convex manner, even for CEOs whose appointments occur for exogenous reasons. ...The decline is faster when there is higher uncertainty about the CEO's ability when there is more transparency about the firm's prospects, and when CEO ability is more important in value creation. We quantify the importance of uncertainty about CEO ability relative to the firm's fundamental cash flow uncertainty in contributing to stock return volatility, highlighting the importance of management in creating value.
We examine the effect of chief executive officer (CEO) compensation incentives on corporate cash holdings and the value of cash to better understand how compensation incentives designed to enhance ...the alignment of manager and shareholder interests could influence stockholder-bondholder conflicts. We find a positive relation between CEO risk-taking (vega) incentives and cash holdings, and we find a negative relation between vega and the value of cash to shareholders. The negative effect of vega on the value of cash is robust after controlling for corporate governance, is stronger in firms with high leverage, is reversed for unlevered firms, and is not present in financially constrained firms. We also find that the likelihood of liquidity covenants in new bank loans is increasing in CEO vega incentives. Our evidence primarily supports the costly contracting hypothesis, which asserts that bondholders anticipate greater risk-taking in high vega firms and, therefore, require greater liquidity.
We examine earnings management practices of insider controlled firms across 22 countries to shed light on the link between consumption of private benefits and earnings management. Insider controlled ...firms are associated with more earnings management than noninsider controlled firms in weak investor protection countries. Consistent with the private benefits motive, insider controlled firms with greater divergence between cash-flow rights and control rights are associated with more earnings management in these countries. Growth opportunities attenuate the association between insider control and earnings management even in weak investor protection countries. We also find some weak evidence that insider controlled firms are associated with less earnings management in strong investor protection countries. Overall, our results highlight a strong link between private benefits consumption and earnings management.
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