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.

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.

In 1992, a year before his death, Yasusuke Murakami published in Japanese An Anti-Classical Political-Economic Analysis: A Vision for the Next Century (English translation, Stanford, 1996). A work that distilled decades of research and thought by a distinguished economic theorist turned social scientist and philosopher, it sold more than 25,000 copies in Japan despite its highly scholarly nature. The book enjoyed such immediate recognition because it offered a sanguine vision for the community of nations and because Murakami's vision was supported by acute insights on, and seminal analyses of the crucial issues relating to economic growth, equality, peace, and cultural diversity we face at the end of the twentieth century.

This volume presents nine essays - by five political scientists, three economists, and a historian - that critically evaluate the vision and analyses in Murakami's book by focusing on his two key contributions. The first is "polymorphic liberalism," a new type of liberalism that reflects the needs of both developed and developing economies and the realities of the diversity of cultures; the second is "developmentalism," a long-term, multifaceted policy intervention in catch-up economic growth. The volume also contains, as appendixes, two essays that further a more complete understanding of Murakami's book: a brief summary of Murakami's "new economics," his replacement for neoclassical economics, and a discussion of England as the first developmentalist success.

All the essays deal, in one way or another, with Murakami's answers to such questions as: What new world order must be created to best provide peace and security to nations? What shared beliefs or principles can help evolve this new world order that is menaced by regional wars and serious international confrontations caused by political, economic, and ethnic-cultural conflicts? How will the character of industrialization change, and what must we do to best respond to changes that are likely to increase political and economic interdependence among nations? And what roles must the United States, the European Union, and Japan play to secure world peace, to maintain an orderly international trade regime, and to reduce disparity in nations' income and wealth?

The global trend that Samuel P. Huntington has dubbed the "third wave" of democratization has seen more than 60 countries experience democratic transitions since 1974. While these countries have succeeded in bringing down authoritarian regimes and replacing them with freely elected governments, few of them can as yet be considered stable democracies. Most remain engaged in the struggle to consolidate their new and fragile democratic institutions.

Consolidating the Third Wave Democracies provides an in-depth analysis of the challenges that they face. In addition to the complete hardcover edition, Consolidating the Third Wave Democracies is available in two paperback volumes, each introduced by the editors and organized for convenient course use. The first paperback volume, Themes and Perspectives, addresses issues of institutional design, civil-military relations, civil society, and economic development. It brings together some of the world's foremost scholars of democratization, including Robert A. Dahl, Samuel P. Huntington, Juan J. Linz, Guillermo O'Donnell, Adam Przeworski, Philippe C. Schmitter, and Alfred Stepan.

The second paperback volume, Regional Challenges, focuses on developments in Southern Europe, Latin America, Russia, and East Asia, particularly Taiwan and China. It contains essays by leading regional experts, including Yun-han Chu, P. Nikiforos Diamandouros, Thomas B. Gold, Michael McFaul, Andrew J. Nathan, and Hung-mao Tien.