The Benefits and Limitations of European Union Membership as a Security Mechanism

With the fall of the Berlin Wall, the end of the post-1945 ‘pax Sovietica’ led not to the ‘end of history’, but rather to an ‘awakening of history’. The wider Europe that emerged in 1989 is facing changing security concerns, which affect both the new democracies and the European Union. Internal security has become increasingly important and has been affected by external security concerns. In particular, threats other than military ones have emerged, leading to the rethinking of the institutional framework entrusted with the safeguarding of security in Europe. EU membership appears to be an effective tool for ensuring European security. This paper highlights the new internal and external political and economic security concerns in transition economies in order to evaluate the benefits and limitations of EU enlargement as a way of addressing these changing security concerns. Several countries, particularly Poland and Romania, are used to exemplify the EU’s role in enhancing security in the applicant countries. The article concludes with policy recommendations for dealing with the limitations of EU membership, and for using the European Neighbourhood Policy (ENP) as a tool for ensuring security beyond the EU enlargement

On the interaction between two Kerr black holes

The double-Kerr solution is generated using both a Backlund transformation and the Belinskii-Zakharov inverse-scattering technique. We build a dictionary between the parametrisations naturally obtained in the two methods and show their equivalence. We then focus on the asymptotically flat double-Kerr system obeying the axis condition which is Z_2^\phi invariant; for this system there is an exact formula for the force between the two black holes, in terms of their physical quantities and the coordinate distance. We then show that 1) the angular velocity of the two black holes decreases from the usual Kerr value at infinite distance to zero in the touching limit; 2) the extremal limit of the two black holes is given by |J|=cM^2, where c depends on the distance and varies from one to infinity as the distance decreases; 3) for sufficiently large angular momentum the temperature of the black holes attains a maximum at a certain finite coordinate distance. All of these results are interpreted in terms of the dragging effects of the system.Comment: 19 pages, 4 figures. v2: changed statement about thermodynamical equilibrium in section 3; minor changes; added references. v3: added references to previous relevant work; removed one equation (see note added); other minor corrections; final version to be published in JHE

Temporary controls on capital inflows

During the past decade a number of countries imposed capital controls that had two distinguishing features: they were asymmetric, in that they were designed principally to discourage capital inflows, and they were temporary. This paper studies formally the consequences of these policies, calibrates their potential effectiveness, and assesses their welfare implications in an environment in which the level of capital inflows can be suboptimal. In addition, motivated by the fact that these types of controls have often been left in place after the dissipation of the shock that lead to the controls being implemented, the paper evaluates the welfare cost of procrastination in removing these types of controls.capital flows controls international interest rates inflation reserve requirements

Too much of a good thing: The macroeconomic effects of taxing capital inflows

In addition to altering fiscal, monetary, and exchange rate policies in response to the surge in international capital inflows in the early 1990s,policy makers in many countries in ASIa, Eastern Europe, and Latin America have resorted to measures to control capital inflows.We provide a preliminary assessment of the effects of some of the macroeconomic effects of these policies.capital controls capital inflows reserve requirements taxes

Cosmological Horizon Modes and Linear Response in de Sitter Spacetime

Linearized fluctuations of quantized matter fields and the spacetime geometry around de Sitter space are considered in the case that the matter fields are conformally invariant. Taking the unperturbed state of the matter to be the de Sitter invariant Bunch-Davies state, the linear variation of the stress tensor about its self-consistent mean value serves as a source for fluctuations in the geometry through the semi-classical Einstein equations. This linear response framework is used to investigate both the importance of quantum backreaction and the validity of the semi-classical approximation in cosmology. The full variation of the stress tensor, delta T^a_b contains two kinds of terms: (1) those that depend explicitly upon the linearized metric variation delta g_{cd} through the [T^a_b, T^{cd}] causal response function; and (2) state dependent variations, independent of delta g_{cd}. For perturbations of the first kind, the criterion for the validity of the semi-classical approximation in de Sitter space is satisfied for fluctuations on all scales well below the Planck scale. The perturbations of the second kind contain additional massless scalar degrees of freedom associated with changes of state of the fields on the cosmological horizon scale. These scalar degrees of freedom arise necessarily from the local auxiliary field form of the effective action associated with the trace anomaly, are potentially large on the horizon scale, and therefore can lead to substantial non-linear quantum backreaction effects in cosmology.Comment: 62 pages, 4 figures v.2 is amended to match the published version in Phys. Rev. D: Eqs. (6.13)-(6.14) for the quadratic action added, two references added, several minor typos correcte

Thermodynamical description of stationary, asymptotically flat solutions with conical singularities

We examine the thermodynamical properties of a number of asymptotically flat, stationary (but not static) solutions having conical singularities, with both connected and non-connected event horizons, using the thermodynamical description recently proposed in arXiv:0912.3386 [gr-qc]. The examples considered are the double-Kerr solution, the black ring rotating in either S^2 or S^1 and the black Saturn, where the balance condition is not imposed for the latter two solutions. We show that not only the Bekenstein-Hawking area law is recovered from the thermodynamical description but also the thermodynamical angular momentum is the ADM angular momentum. We also analyse the thermodynamical stability and show that, for all these solutions, either the isothermal moment of inertia or the specific heat at constant angular momentum is negative, at any point in parameter space. Therefore, all these solutions are thermodynamically unstable in the grand canonical ensemble.Comment: 19 pages, 12 figure

Gender and the Distribution of Wealth in Developing Countries

women, assets, gender inequality, marital regimes, inheritance, land, Latin America, Africa, law

National Consultation-Workshop on Alternative Mechanisms for the Promotion of Microfinance in Vietnam

On 24-26, 1996, the Vietnam Bank for Agriculture (VBA) and the Asia Pacific Rural and Agricultural Association (APRACA) held a joint workshop in Hanoi on Alternative Mechanisms for the Promotion of Microfinance in Vietnam. The workshop was hosted by VBA and supported by the German technical assistance agency GTZ. The workshop was attended by some 60 national participants from the State Bank of Vietnam, the Government Office, the Ministry of Agriculture and Rural Development, the Ministry of Finance, the Ministry of Labor, Invalids and Social Affairs, the Ministry of Planning and Investment, the Central Economics Committee, the People's and Mountainous Committee, the Vietnam Bank for Agriculture, the Vietnam Bank for the Poor, the Central People's Credit Fund, the National Economics University, the Vietnamese Farmers' Association, and the Vietnamese Women's Union. Further the workshop was attended by some 20 foreign participants from APRACA, ACS (APRACA Consultancy Services), BAAC (Bank of Agriculture and Agricultural Cooperatives) in Thailand, Bank Indonesia & PHBK, Bank Rakyat Indonesia, CIDSE (an international NGO in Vietnam), GTZ, NABARD from India, and UNDP (Hanoi and Kuala Lumpur). --