Birds of a feather or by note? Ideological nationalization of local electoral manifestos in Belgium

Until now, scholars trying to unravel the phenomenon of nationalization have seldom considered the local policy layer or the ideological dimension as their main subject. This paper, however, studies the ideological nationalization of Flemish local party branches. It applies the method of content analysis of electoral manifestos to the local elections and examines the programmatic overlaps between the party headquarter and its local branches. An innovative nationalization measure is introduced and subsequently included in an explanatory regression model. The results show that ideological similarities are ubiquitous and especially prevailing among leftist parties, in majority-participating party branches and in large municipalities

Aliens in the Garden

This Article examines environmental rhetoric and argues that a nationalist conception of nature has long distorted environmental policies. Environmental discourse frequently seeks to explain the natural world by reference to the world of nations, a phenomenon that can be characterized as the “nationalization of nature.” A contemporary example of the nationalization of nature is the rhetoric of “invasive species,” which depicts harmful foreign plants and animals in ways that bear an uncanny resemblance to the demonization of foreigners by opponents of immigration. A typical newspaper article about invasive species, bearing the headline “Eeeeek! The eels are coming!,” warned about an influx of “Asian swamp eels” and described them as “slimy, beady-eyed immigrants.” The nationalization of nature is a longstanding trope in American environmental discourse, as policies toward native and foreign plants and animals have long served as surrogates for addressing questions of national identity. Conceiving of environmental problems through the lens of nationalism, however, distorts environmental policies by projecting onto nature unrelated anxieties about national security and national identity

The Territorial Exception to the Act of State Doctrine: Application to French Nationalization

This Note reaches the contrary conclusion that the French nationalization of American subsidiaries fits within the territorial exception to the act of state doctrine

Privatization and nationalization cycles

This paper studies the cycles of nationalization and privatization in resource-rich economies as a prime instance of unstable institutional reform. The authors discuss the available evidence on the drivers and consequences of privatization and nationalization, review the existing literature, and present illustrative case studies. This leads to the main contribution of the paper: a static and dynamic model of the choice between private and national regimes for the ownership of natural resources. In the model, the basic tradeoff is given by equality (national ownership) versus efficiency (private ownership). The connection between resource ownership and the equality-efficiency tradeoff is given by the incentives for effort that each regime elicits from workers. The resolution of the tradeoff depends on external and domestic conditions that affect the value of social welfare under each regime. This leads to a discussion of how external conditions—such as the commodity price—and domestic conditions—such as the tax system-- affect the choice of private vs. national regimes. In particular, the analysis identifies the determinants of the observed cycles of privatization and nationalization.Economic Theory&Research,Political Economy,Emerging Markets,Labor Policies,Markets and Market Access

Profit Sharing under the Threat of Nationalization

A multinational corporation engages in foreign direct investment for the extraction of a natural resource in a developing country. The corporation bears the initial investment and earns as a return a share of the profits. The host country provides access and guarantees conditions of operation. Since the investment is totally sunk, the corporation must account in its plan not only for uncertainty in market conditions but also for the threat of nationalization. In a real options framework, where the government holds an American call option on nationalization, we show under which conditions a Nash bargaining leads to a profit distribution maximizing the joint venture surplus. We find that the threat of nationalization does not affect the investment threshold but only the Nash bargaining solution set. Finally, we show that the optimal sharing rule results from the way the two parties may differently trade of rents with option values.Real Options, Nash Bargaining, Expropriation, Natural Resources, Foreign Direct Investment, International Relations/Trade, Resource /Energy Economics and Policy, C7, D8, K3, F2, O1,

The Politics of Democratizing Finance: A Radical View

How can finance be durably democratized? In the centers of financial power in both the United States and the United Kingdom, proposals now circulate to give workers and the public more say over how flows of credit are allocated. This article examines five democratization proposals: credit union franchises, public investment banks, sovereign wealth funds, inclusive ownership funds, and bank nationalization. It considers how these plans might activate worker and public engagement in decision making about finance by focusing on three modes of public participation: representative democracy, direct democracy, and deliberative minipublics. It then considers the degree to which democratization plans might be resilient to de-democratization threats from business. It argues that of the five, bank nationalization goes furthest in guarding against de-democratization threats but is still pocked with pitfalls if it relies solely on representative democracy. It argues that two criteria appear necessary for democratically durable alternatives: the active direct participation of workers and citizens and the weakening of businesses’ capacity for democratic retrenchment. finance, democracy, labor, credit, business powe