\When developing countries announce debt relief agreements under the Brady Plan, their stock markets appreciate by an average of 60% in real dollar terms - a $42 billion increase in shareholder value. There is no significant stock market increase for a control group of countries that do not sign Brady agreements. The stock market appreciations successfully forecast higher future resource transfers, investment, and growth. Since the market capitalization of U.S. commercial banks with developing country loan exposure also rises - by $13 billion - the results suggest that both borrower and lenders can benefit from debt relief when the borrower suffers from debt overhang.

In recent years our usage and understanding of different types of energy has grown at a tremendous rate. The editor-in-chief, Cutler Cleveland, and his international team of associate editors have brought together approximately 400 authors to produce the Encyclopedia of Energy. This highly topical reference draws together all aspects of energy, covering a wealth of areas throughout the natural, social and engineering sciences. The Encyclopedia will provide easily accessible information about all aspects of energy, written by leading international authorities. It will not only be indispensible for academics, researchers, professionals and students, but also for policy makers, energy and environmental consultants, and all those working in business corporations and non-governmental organisations whose activities relate to energy and the environment.

In this Article, we describe an emerging arena of global administration. We claim that this arena, not bounded by a state, raises accountability problems of a kind different from those addressed by conventional administrative law. And we argue that measures designed to address these problems will have potentially large implications for democratic theory and practice. Our argument starts from the premise—stated here without nuance—that something new is happening politically beyond the borders of individual states and irreducible to their voluntary interactions. To distinguish these developments from what is commonly called “international law and politics,” we use the term “global politics.” The emergence of global politics is marked by a proliferation of political settings beyond domestic boundaries. This proliferation expands the range of relevant political actors, while shifting our understanding of political units and of relations among them: the emergence of human rights as limits on Westphalian sovereignty was a first step in this shift, but not the last.

Analyzing a variety of cross-national and sub-national data, we argue that high adult mortality reduces economic growth by shortening time horizons. Higher adult mortality is associated with increased levels of risky behavior, higher fertility, and lower investment in physical and human capital. Furthermore, the feedback effect from economic prosperity to better health care implies that mortality could be the source of a poverty trap. In our regressions, adult mortality explains almost all of Africa's growth tragedy. Our analysis also underscores grim forecasts of the long-run economic costs of the ongoing AIDS epidemic.

Allen S. Weiner examines to what degree the global "war on terror" that has erupted since September 11, 2001 fits the "just war" doctrine of international relations or even whether it can properly be considered a war at all in terms of positive international law. Whether or not these labels apply is not merely a matter of academic debate, Weiner notes, but has broader implications for the international legal responsibilities of the United States in Afghanistan, Iraq and other theaters of the "war on terror."

Sub-Saharan Africa has a high incidence of polygyny. Countries in this region are also characterized by large age gaps between husbands and wives, high fertility, and the payment of a brideprice at marriage. In monogamous countries, on the other hand, the bride's parents traditionally give a dowry (negative brideprice) at marriage. Sub-Saharan Africa is also the poorest region of the world. In this paper I ask whether banning polygyny could play any role for development in Sub-saharan Africa.

Since this experiment does not exist in the data, I address the question using a formal model of polygyny and analyze the effects of enforcing monogamy within the model. I find that enforcing monogamy lowers fertility, shrinks the spousal age gap, and reverses the direction of marriage payments. The capital- output ratio and GDP per capita increase. The reason is that when polygyny is allowed, high brideprices are needed to ration women. This makes buying wives and selling daughters a good investment strategy that crowds out investment in physical assets. I show that these effects can be large quantitatively. For reasonable parameter values, I find that banning polygyny decreases fertility by 40%, increases the savings rate by 35% and increases output per capita by 140%.

This paper argues that it is difficult to understand the effects of American democracy promotion abroad without examining the bureaucratic context from which the policy emerges at home. Which actors within the U.S. government are involved in promoting political and economic change abroad? What strategies and conceptual models guide them? What tools and resources do they bring to bear? How does the interaction of American bureaucratic politics affect the impact of American democracy promotion? Articulating this mix of goals, strategies, and resources helps explain incoherent patterns of outcomes on the ground.

This paper explore these questions by reference to the U.S. government's most ambitious democracy promotion efforts of the past decade: the effort to rebuild its former Soviet enemies into a democratic allies in the 1990s. Yet the patterns of American bureaucratic politics are not unique to this democracy promotion effort. While American democracy promotion has changed in tone and substance under the watch of George W. Bush, American domestic politics has powerfully shaped American democracy promotion in similar ways in Iraq, Afghanistan, and beyond.

In this decade, fostering democratic regime change in Iraq is the great challenge (or folly) before American foreign policymakers. In the previous decade, fostering democratic regime change in Russia was the great challenge (or folly) before American foreign policymakers. For much longer and with much greater capacity than Saddam Hussein's regime, the Soviet regime threatened the United States. The destruction of the Soviet regime and the construction of a pro-Western, democratic regime in its place, therefore, was a major objective of America foreign policy. Some presidents pursued this goal more vigorously than others: Nixon cared less, Reagan more.

Almost twenty years after Mikhail Gorbachev became General Secretary of the Communist Party of the Soviet Union and soon thereafter began the process of political change inside the USSR, it is still not clear what kind of regime will eventually consolidate in Russia. To date, however, the influence of the United States in fostering regime change inside the Soviet and then Russia has been limited. This paper explores the causes and consequences of US efforts at regime change in the Soviet Union and contemporary Russia.