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.

Historians will someday write that Russia re-entered the Western community of states as a market democracy at the end of the 20th century. You wouldn't think so, however, from the vituperative and pessimistic tone of most contemporary commentary in the United States about Russia and U.S.-Russian relations. Focusing on lurid accounts of Russian money laundering, cronyism, and widespread political and economic disarray, politicians and pundits have blasted the Clinton administration for mishandling a crucial strategic relationship and "losing" Russia.

Five years have passed since the collapse of the Soviet Union, and a new political and economic system has evolved in Russia. Russia After Communism provides an overall assessment of what has been accomplished and what has failed to date, and where Russia is heading. In a unique collaborative effort, the book features chapters on major issues written by pairs of leading Russian and American scholars.

Michael McFaul and Nikolai Petrov analyze the Russian elections since 1989 and assess voting behavior. Scott Bruckner and Lilia Shevtsova address the question of whether Russia has become a stable pluralist society. Martha Brill Olcott and Valery Tishkov focus on the nature of the Russian nation as well as regional relations. Russia has become a market economy, but what kind of capitalism is being formed? Anders Aslund and Mikhail Dmitriev examine the continuing challenge of economic reform. Sherman Garnett and Dmitri Trenin analyze Russia's relations with its nearest neighbor. Stephen Sestanovich examines Russia's place in the world.

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.

The next time Bill Clinton and Boris Yeltsin meet at a U.S.-Russian summit,

three kinds of issues will dominate their agenda's arms control, regional conflicts,

and human rights. In fact, these three issues may dominate the agenda of

future U.S.-Russian summits for a long time. Regarding arms control, the Russian

ratification of START II stands as one of the major stumbling points in U.S.-

Russia relations. The two presidents probably will not meet again until this agreement

has been ratified by the Russian parliament. Regarding regional conflicts,

the American and Russian governments have radically divergent positions concerning

trade with Iran. For several years, the United States has objected to the

Russian-assisted construction of nuclear reactors in Iran, yet the Russian Ministry

of Atomic Energy continues with the project. Regarding human rights,

American officials have quite rightly expressed their outrage concerning the passage

of a new draconian law on religion that restricts the freedom of worship of

most "nontraditional" Russian faiths. In reaction to this law, the U.S. Senate has

threatened to end all aid to Russia.

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?

Since the collapse of communism and commensurate disappearance of containment as the organizing principle of American foreign policy, U.S. foreign policymakers have lacked a unifying framework for interpreting the international system or a grand strategy for guiding U.S. actions in this system. Lacking a grand strategy, American motivations and objectives in international affairs often seem ambiguous, confused, if not slyly

sinister, to outside observers.

We analyze the acquisition of women's suffrage in 133 countries from 1890 to 1990. Throughout the twentieth century the influence of national political and organizational factors has declined and the importance of international links and influences has become increasingly important. These findings indicate that the franchise has become institutionalized worldwide as a taken-for-granted feature of national citizenship and an integral component of nation-state identity: The prevailing model of political citizenship has become more inclusive.