Towards a definition of naval elites: reconsidering social change in Britain,France and Spain,c.1670–1810

Abstract

This work proposes the term ‘naval elites’ in order to provide a new interpretation of social change in the eighteenth century from a comparative perspective. Naval elites, a social group formed by a part of the naval officer corps and midshipmen, are here defined as a historical instrument, the particular and intriguing features of which may be useful in the revision of some perspectives on social change. In particular, the authors analyse shifting power relationships through the reconsideration of naval patronage and bureaucracy, revisit the process of naval professionalization and the transformation of the concept of merit, and suggest that naval elites embodied new notions of social distinction and exclusiveness.     

The Impossible Trinity: Inflation Targeting,Exchange Rate Management and Open Capital Accounts in Emerging Economies

This article contributes to the debate on macroeconomic management and capital account regulations in developing and emerging countries (DECs). It argues that the recommendation by neoclassical economists and international financial institutions (IFIs) to combine an inflation‐targeting regime with exchange rate management, whilst maintaining open capital accounts, is not only impossible but also potentially counterproductive. The article draws on extensive semi‐structured interviews with currency traders in Brazil and London to show that this is due to the particular way such a regime shapes central bank interventions in the money and foreign exchange markets and the destabilizing way these interventions interact with financial market expectations. The interview results also demonstrate that the guidelines issued by IFIs actually undermine, rather than aid, DEC central banks’ initial attempts to manage excessive exchange rate movements. These results support the long‐standing argument by heterodox economists and critical international political economists that DECs need to make the exchange rate an explicit instrument and goal of their macroeconomic policy and complement it with comprehensive capital account regulations to reduce the destabilizing impact of international capital flows. The interview results also give some concrete suggestions on how to achieve this.     

ZONING A CROSS‐BORDER CITY

This paper investigates zoning in a cross‐border linear city that consists of two bordering towns. In each town, a local regulator has a say in the location of the local firm. We find that local regulators may use zoning strategically. The incentive to gain consumers from the other town, or not to lose local consumers, may push regulators to approve only locations for firms close enough to the frontier. When zoning is costly an asymmetric equilibrium may emerge: only one regulator resorts to zoning. In the case of towns of different sizes, the regulator of the larger town is the only one that zones in an asymmetric equilibrium.     

Economic effects of recent experiences of federalism: Analysis of the regionalization process in Spain

Setting limits on government action is critical to economic development. Some forms of government organization, such as market-preserving federalism, seem effective to protect property rights in the long term with good results for economic efficiency. Spain endowed its regions with “Statutes of Autonomy” in the 1980s thus moving from a centralized to a decentralized form of government. It renewed and expanded some of the statutes in the 2000s. This article investigates whether these two waves of regionalization, which had their own characteristics in each region, had led to positive effects on economic performance. Using a novel autonomous region/country-matched balanced sample for the period 1950–2016, we apply the synthetic control method and compare the economic growth trajectories of Spanish regions with their synthetic control groups not affected by the regionalization process. We show that the first wave of “Statutes of Autonomy” had a positive but temporary economic growth impact. By contrast, the second wave of regionalization of the 2000s is associated with a negative growth impact.     

中国自然保护区生态旅游开发研究刍议

本文从生态旅游的角度的出发,阐述了自然保护区生态旅游开发的意义,分析了自然保护区生态旅游资源的特点和开发限制因素,初步探讨了我国自然保护区生态旅游开发原则。