Proponents of oil-led development believe that countries lucky enough to have "black gold" can base their development on this resource. They point to the potential benefits from enhanced economic growth and the creation of jobs, increased government revenues to finance poverty alleviation, the transfer of technology, the improvement of infrastructure and the encouragement of related industries. But the experience of almost all oil-exporting countries to date illustrates few of these benefits. To the contrary, the consequences of oil-led development tend to be negative, including slower than expected growth, barriers to economic diversification, poor social welfare performance, and high levels of poverty, inequality and unemployment. Furthermore, countries dependent on oil as their major resource for development are characterized by exceptionally poor governance and high corruption, a culture of rent-seeking, often devastating economic, health and environmental consequences at the local level, and high incidences of conflict

and war. In sum, countries that depend on oil for their livelihood eventually become among the most economically troubled, the most authoritarian, and the most conflict-ridden in the world.

Contrary to the predictions of standard economic theory, capital market liberalization has been a mixed blessing for many countries. Liberalization of debt inflows exposes economies to the risk of crises stemming from sudden changes in investor sentiment. Equity market liberalizations, on the other hand, have promoted growth in almost every liberalizing country. Yet equity market liberalizations have not had as strong an effect as might be expected. To convince outsiders to invest, countries must put in place laws and supporting institutions to protect the rights of minority shareholders. Countries with such protections tend to have larger, more efficient, and more stable stock markets than those that do not.

Globalization involves a profound re-ordering of our world with the proliferation everywhere of rules and transnational modes of governance. This book examines how this governance is formed, changes and stabilizes. Building on a rich and varied set of empirical cases, it explores transnational rules and regulations and the organizing, discursive and monitoring activities that frame, sustain and reproduce them. Beginning from an understanding of the powerful structuring forces that embed and form the context of transnational regulatory activities, the book scrutinizes the actors involved, how they are organized, how they interact and how they transform themselves to adapt to this new regulatory landscape. A powerful analysis of the modes and logics of transnational rule-making and rule-monitoring closes the book. This authoritative resource offers ideal reading for all academic researchers and graduate students of governance and regulation.

All over the world new ideas and models emerge on how to organize the higher education sector and its institutions. The contributions in this volume identify the most influential transnational models and investigate their origins and mechanisms of dissemination as well as the resulting consequences for national systems. Will global trends in higher education lead to homogeneity or will they result in an increased differentiation? This question is addressed by higher education researchers with very different disciplinary and national backgrounds. Contributors are, among others, Jürgen Enders, John W. Meyer, Christine Musselin and Kerstin Sahlin-Andersson.

Recent world events have created a compelling need for new perspectives and realistic solutions to the problem of sovereign debt. The success of the Jubilee 2000 movement in raising public awareness of the devastating effects of debt, coupled with the highly publicized Bono/O'Neill tour of Africa, and the spectacular default and economic implosion of Argentina have helped spur a global debate over debt. A growing chorus of globalization critics, galvanized by the Catholic Church's demand for forgiveness and bolstered by recent defaults, has put debt near the top of the international agenda. Creditor governments and international financial institutions have belatedly recognized the need for more sustainable progress on debt as an inescapable step towards economic recovery in many parts of the world. This book is intended to advance the dialogue around these issues by providing a comprehensive overview of the problems raised by debt and describing new and practical approaches to overcoming them. It will be the first in more than a decade to bring together under one cover the voices of prominent members of the international debt community. It will include pieces from the most relevant constituencies: from creditors (the IMF/World Bank, government lenders, private investors) to critics (debtor representatives, activists, and academics) and analysis from economists, bankers, lawyers, social scientists, and politicians. As contributions come from such leading thinkers across a range of disciplines, this book will offer a timely guide for understanding and influencing the debt debate.

The dramatic series of protests and political events that unfolded in Ukraine in the fall of 2004--the "Orange Revolution"--were seminal both for Ukrainian history and the history of democratization. Its effects have already been felt from Kyrgyzstan to Lebanon and are likely to travel even further. Yet few anticipated such a dramatic democratic breakthrough in Ukraine. Revolution in Orange is a pioneering effort to describe and explain the events leading up to and through December 2004 from authors who had on-the-ground experience interacting with the various Ukrainian, Western, and Russian dramatis personae of the Orange Revolution. The result is a highly readable, deeply informed, and insightful volume with lasting value as an explicator of this remarkable episode in the history of Ukraine and Eastern Europe. Carnegie Endowment for International Peace

The modern Romanian judiciary originates in the middle of the nineteenth century. The structure of the judiciary follows both the French model (the civil matters), and the Italian one (the commercial regulations). The Ministry of Justice plays a significant role in the administration of the judiciary. Romanian is a Roman language, and Romania has had long-standing cultural ties to France that were carried over to the legal sphere.

In the former (second) Yugoslavia (1945-1991) which was a federal state, according to the constitutional provision on the federal character of the state, judicial system was organized on the level of federal units (republic and provinces) and on the federal level only consistency of the case law was provided by the revision function of the Federal Court (cassation). Furthermore the Federal Attorney prosecutes the most severe crimes against the state and political order, taking into account the ideological charters of that order.

In this report we examine the role of internal and external factors in advancing or preventing "democratic rule of law" reforms in Turkey over the last decade. We focus particularly on the role of the EU in trying to influence domestic reforms. We underline the interaction between domestic actors and this external actor. We primarily aim to figure out why, when, where and how has the EU managed to influence rule of law reforms and where it has failed to make a real impact. In conceptualizing this influence we distinguish between direct (through government-to-government pressure etc.) and indirect (through empowering domestic reformists strengthening pro-reform civil society, or coordinating with other international organizations to maximize external pressures) impacts.

Prepared for the workshop organized by Sabanci University, Stanford University and Centre of European Excellence - University of Florence on "Europeanisation and Democratisation: The Southern European Experience and the Perspective for New Member States of the Enlarged Europe", Istanbul 10-11th December 2005.