Days after staring down the August 1991 coup attempt, Russian President Boris Yeltsin boasted a 90 percent approval rating at home, adorned the cover of every international weekly in the world, and was christened a democratic hero by world leaders from Washington to Tokyo. When he suddenly resigned as president on December 31, 1999, Yeltsin enjoyed an eight percent approval rating at home (with a margin of error of plus or minus four percent). He probably had only two or three international calls to make. With the exception of Bill Clinton and a few others, Yeltsin had almost no friends in high places left. Even the Western media all but ignored the passing of this onetime hero. When Clinton appeared that morning to comment on Yeltsin's retirement, most American television networks chose instead to air the fireworks display in Beijing.

Since its inception in 1987, Korean democracy has been an arean of continual drama and baffling contradictions, periodic waves of societal mobilization and disenchantment; initial continuity in political leadership followed by the successive election to the presidency of two former opposition leaders and the arrest of two former heads of state; a constant stream of party renaming and realignments; an extended period of economic success and then a breathtaking economic collapse; and a persistent quest for political reform within a political culture focused not on institutions but on power and personal relationships.

This book sheds light on the dilemmas, tensions, and contradictions arising from democratic consolidation in Korea. The authors explore the turbulent features of Korean democracy in its first decade, assess the progress that has been made, and identify the key social, cultural, and political obstacles to effective and stable democratic governance.

At the Gleneagles summit in July 2005, the heads of state from the G-8 countries - the United States, Canada, France, Germany, Italy, Japan, Russia and the United Kingdom - called on the International Monetary Fund (IMF), the World Bank and the African Development Bank to cancel 100 percent of their debt claims on the world's poorest countries. The world's richest countries have agreed in principle to forgive roughly $55 billion dollars owed by the world's poorest nations. This article considers the wisdom of the proposal for debt forgiveness, from the standpoint of stimulating economic growth in highly indebted countries. In the 1980s, debt relief under the "Brady Plan" helped to restore investment and growth in a number of middle-income developing countries. However, the debt relief plan for the Heavily Indebted Poor Countries (HIPC) launched by the World Bank and the International Monetary Fund in 1996 has had little impact on either investment or growth in the recipient countries. We will explore the key differences between the countries targeted by these two debt relief schemes and argue that the Gleneagles proposal for debt relief is, at best, likely to have little effect at all. Debt relief is unlikely to help the world's poorest countries because, unlike the middle-income Brady countries, their main economic difficulty is not debt overhang, but an absence of functional economic institutions that provide the foundation for profitable investment and growth. We will show that debt relief may be more valuable for Brady-like middle-income countries than for low-income ones because of how it leverages the private sector.

Trading relations in Vietnam's emerging private sector are shaped by two market frictions: the difficulty of locating trading partners and the absence of legal enforcement of contracts. Examining relational contracting, we find that a firm trusts its customer enough to offer credit when the customer finds it hard to locate an alternative supplier. A longer duration of trading relationship is associated with larger credit, as is prior information gathering. Customers identified through business networks receive more credit. These network effects are enduring, suggesting that networks are used to sanction defaulting customers.

Australia is presently seeking to streamline its civil justice system. It is popular folklore that the Australian civil justice system is inaccessible to 'ordinary people' as it is expensive, slow and complex. The reasons for these alleged failings are attributed to various causes, such as arcane and inefficient judicial practices, money-hungry lawyers or, more fundamentally, to the very underpinnings of civil litigation - adversarialism. This volume confronts this folklore.

It provides perspectives about civil justice from its major user and funding source (government) and the group of Australians who have used it the least and feel most alienated from the system (indigenous Australians). It explores the insights of those who work with adversarialism day in and day out (judges and lawyers) and reveals both defenders and strident advocates for change. Finally, it steps back and gives an outsider's view of Australian adversarialism from those with knowledge of a sister system in the United States.

The book is intended for a wide audience and has been written in a style which is readily accessible to people from many different disciplines.

Cappelen Akademisk Forlag (a leading Norwegian Publisher) are pleased to announce the publication of a new and highly challenging book on the rise of New Public Financial Management (NPFM) reforms. Edited by Olov Olson, James Guthrie and Christopher Humphrey, the book is the outcome of a unique two year collaborative project involving 24 senior accounting academics from eleven different countries, including Australia, France, Germany, Japan, New Zealand, Norway, Spain, Sweden, Switzerland, United Kingdom and United States of America. The book is intended for a wide audience and has been written in a style which is readily accessible to people from many different disciplines. As John Meyer, Professor of Sociology at Stanford University, observes in his foreword to the book: "This book is about the rise and international impact of a social movement trying to reform public management around the world along rational and rationalistic lines. The roots of the movement are in professional accounting, especially in the private sector, and has gained considerable force in the last two decades, and has had widespread effects on the ways public organizations are perceived, on policies governing them, and sometimes on organizational practices.

Over the next few decades East Asia is likely to be the most critical arena in the global struggle for democracy. A region of remarkable diversity that has achieved unparalleled economic growth, East Asia is viewed as a model by many developing countries in other parts of the world. Though some of its most successful countries are democratic, East Asia is also home to nondemocratic regimes that can claim enviable records of both political stability and economic growth. Some of these regimes have helped to launch a global debate about whether "Asian values" conducive to growth and stability may be incompatible with Western-style liberal democracy.

This volume of essays by leading North American and Asian scholars provides a comprehensive look at key themes relating to democracy in East Asia today. The contributors explore the "Asian values" debate, East Asia's democratic experience, the effort to consolidate East Asia's new democracies, and prospects for democratic transitions among the region's remaining authoritarian regimes.

Contributors: Frederick Z. Brown, Chai-Anan Samudavanija, Joseph Chan, Yun-han Chu, Gerald L. Curtis, Wm. Theodore de Bary, Larry Diamond, Francis Fukuyama, Makoto Iokibe, Bilahari Kausikan, Byung-Kook Kim, R. William Liddle, Gordon P. Means, Margaret Ng, Tatsumi Okabe, Parichart Chotiya, Minxin Pei, Marc F. Plattner, Robert Scalapino.