Of Currency Wars and Other Demons: Exchange Controls
Of Currency Wars and Other Demons: Exchange Controls and the Governance of State-Capitalist Policies within Democratic Transition Bruno Meyerhof Salama FGV Law School, So Paulo, Brazil Columbia Law School Faculty Lunch Workshop, Fall 2010 November 16, 2010 What is this paper about? Crisis New mercantilist agendas
Change in regulatory toolkit Developmental FEX controls as paradigm administrative law Arguments 1. 2. 3.
Critique to standard developmental debate on financial regulation: misguided naturalization of relationship between institutional design and governance Applied study Brazil: Governance and institutional design partly independent and historically conditioned Theory of L&D: political contrariness in law as additional explanation for failure of rule of law reforms Developmental Debate PostWWII
Comunism Second World First World Third World Ideological Libertarianism
State Capitalist Policies Market Capitalist Policies Keynesian Macroeconomic Argument Market Failure Argument Neoclassic Economic Argument Public Choice Argument
Where Law Matters Institutional Design: Efficiency Governance: Legality & Legitimacy A Misleading Comparison Free Market U S A Legal
Governance C h i n a Interventive States Administrative Governance
The Democratic Normative Bend Interventive States Free Market Legal Governance > Administrative governance < Positive Variable: Degree of democractic entrenchment FEX Controls Where Brazil stands Administrative
Interventionism China Governance Legal Institutional Design Brazil Free Market
Historical constraints The 80s threefold evolutionary process Tensions in financial regulation: Static: democracy x expediency Dynamic: transient legal structure X intransient political regime Historical note 2 illustrative narratives
Law & Development Theorization Political contrariness in law Demand-sided constraint to law reforms rule of
Broadcast channel (BCH) is sent over PCCPCH in 20 ms TTI . BCH aligned with beginning of every other frame. Mobile determines the beginning if PCCPCH through simple CRC checks. Once PCCPCH is decoded, the mobile has acquired the system...
Times New Roman Symbol vancouver Temperature Stability Stability Lapse Rate Parcel Theory Skew-T log P diagrams Stability Planetary Boundary Layer PBL Diurnal PBL Evolution Diurnal Change in Temperature Surface based temperature inversion Elevated Inversion Diurnal changes in stability Mountain/Valley PBL...
Relationship between Y and X's does not need to be linear. Homogeneity of slopes. The model that relates Y to X's must be the same for all groups (except for intercept). Example: 3 treatments Uncorrected ANOVA ANCOVA HW06 Solution HW06...
Looking Out/Looking In Eleventh Edition Chapter Nine: Improving Communication Climates Ronald B. Adler, Russell F. Proctor II, and Neil Towne Improving Communication Climates Communication Climate: Confirming Communication Recognition Acknowledgement Endorsement Communication Climate: Disconfirming Communication Verbal Abuse Complaining Impervious Responses Interrupting...
Introduction. First African-American president of the US. 44th president of the US. Opportunity to create history. Birth date - Aug 4, 1961. Majored in Political Science from Columbia University in 1983
Cymer Afan Comp Last modified by: Swpuser Created Date: 3/3/2008 2:35:53 PM Document presentation format: On-screen Show Company: bitc Other titles: Times New Roman Arial Calibri Comic Sans MS Default Design Slide 1 Slide 2 Slide 3 Slide 4 Slide...
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