Law, Politics and Financial Development: The Great Reversal of the U.K. Corporate Debt Market

This article examines the role of creditor protection in the development of the U.K. corporate bond market. This market grew rapidly in the late nineteenth century, but in the twentieth century it experienced a reversal, albeit with a short-lived post-1945 renaissance. Such was the extent of the reversal that the market from the 1970s onwards was smaller than it had been in 1870. We find that law does not explain the variation in the size of this market over time. Alternatively, our evidence suggests that inflation and taxation policies were major drivers of this market in the post-1945 era. Copyright © The Economic History Association 2013

The Hindered Self-Help: Housing Policies, Politics And Poverty In Kolkata, India

The housing dimension in Kolkata has been changing in recent years. Since 1991, the city has initiated housing reform that has taken many forms and manifestations characterized by the reduction in social allocation, cutbacks in public funding and promotion of a real estate culture in close partnership between the state and private actors. There has been increasing concern about the housing condition of the poor in the deserted slums and bustee settlements amidst the evident ‘poor blindness’ in housing and investment policies. Against this background the paper discusses self-help housing in Kolkata. It seeks to answer a simple question – why the concept of self-help has not been recognised as a viable policy option for a city with widespread slums and bustee settlements by visiting the complex urban context of Kolkata set within the city's politics, poverty and policies. The paper concludes that there is a need to recognise the existing structural duality in the city and support self-help housing as a parallel housing approach.

A new landscape of arts-based buildings and comparative cultural policies on the island of Ireland: the curse of Jocasta's necklace

Much current cultural policy research focuses on activity traditionally viewed as arts practice: visual arts, music, literature and dance. Architecture’s role in the discussion of cultural policy is, however, less certain and thus less frequently interrogated. The study presented here both addresses this dearth of in-depth research while also contributing to the interdisciplinary discussion of cultural policy in wider terms. In seeking to better understand how architectural culture is regulated and administered in a specific case study, it unpacks how the complicated relationships of nominal and explicit policies on both sides of the Irish/Northern Irish border contributed to the significant expansion of arts-based buildings 1995-2008. It contrasts political and cultural motivations behind these projects during a period of significant economic growth, investment and inward immigration. Data has been gathered from both official published policies as well as interviews with elite actors in the decision-making field and architects who produced the buildings of interest in both countries. With the sizeable number of arts-based buildings now completed in both Republic of Ireland and Northern Ireland, one must wonder if this necklace of buildings is, like Jocasta’s, a thing of both beauty and redolent with a potential future curse. It is the goal of this project to contribute to the larger applied and critical discussion of these issues and to engage with future policy design, administration and, certainly, evaluation.

A new landscape of arts-based buildings and comparative cultural policies on the island of Ireland: the curse of Jocasta's necklace

Much current cultural policy research focuses on activity traditionally viewed as arts practice: visual arts, music, literature and dance. Architecture’s role in the discussion of cultural policy is, however, less certain and thus less frequently interrogated. The study presented here both addresses this dearth of in-depth research while also contributing to the interdisciplinary discussion of cultural policy in wider terms. In seeking to better understand how architectural culture is regulated and administered in a specific case study, it unpacks how the complicated relationships of nominal and explicit policies on both sides of the Irish/Northern Irish border contributed to the significant expansion of arts-based buildings 1995-2008. It contrasts political and cultural motivations behind these projects during a period of significant economic growth, investment and inward immigration. Data has been gathered from both official published policies as well as interviews with elite actors in the decision-making field and architects who produced the buildings of interest in both countries. With the sizeable number of arts-based buildings now completed in both Republic of Ireland and Northern Ireland, one must wonder if this necklace of buildings is, like Jocasta’s, a thing of both beauty and redolent with a potential future curse. It is the goal of this project to contribute to the larger applied and critical discussion of these issues and to engage with future policy design, administration and, certainly, evaluation.

National climate policies across Europe and their impacts on cities strategies

Globally, efforts are underway to reduce anthropogenic greenhouse gas emissions and to adapt to climate change impacts at the local level. However, there is a poor understanding of the relationship between city strategies on climate change mitigation and adaptation and the relevant policies at national and European level. This paper describes a comparative study and evaluation of cross-national policy. It reports the findings of studying the climate change strategies or plans from 200 European cities from Austria, Belgium, Estonia, Finland, France, Germany, Ireland, Italy, Netherlands, Spain and the United Kingdom. The study highlights the shared responsibility of global, European, national, regional and city policies. An interpretation and illustration of the influences from international and national networks and policy makers in stimulating the development of local strategies and actions is proposed. It was found that there is no archetypical way of planning for climate change, and multiple interests and motivations are inevitable. Our research warrants the need for a multi-scale approach to climate policy in the future, mainly ensuring sufficient capacity and resource to enable local authorities to plan and respond to their specific climate change agenda for maximising the management potentials for translating environmental challenges into opportunities.

Growth Coalitions and Rural Development Police in the EU and the US

A recent issue of EuroChoices (7:1) was devoted to a discussion of comparative US-EU rural development policies. This article discusses the concept of growth coalitions, well developed in urban literature but less so in rural literature. Some light is shed on the different positions of rural and environmental issues in EU and US policies. The agricultural lobby is the dominant actor in agricultural growth coalitions because it perceives land in terms of its exchange value. Environmental and rural development actors perceive land in terms of its use value and its contributions to quality of life: they form a rural development coalition, seeing the need to balance growth with quality of life, but they have less political power than the agricultural growth coalition. In the European context, rural and environmental agendas are linked to a multi-functional agricultural agenda allowing common ground between these two coalitions and greater visibility in the policy arena. In the US, rural interests and environmental groups are more often in opposition to agriculture. This reduces their political visibility and clout. The challenge is how to link the power of the agricultural growth coalitions with rural development coalitions to achieve a broader balance of concerns and a more effective rural development policy.