Creating Regulatory Harmony: The Participatory Politics of OECD Chemical Testing Standards in the Making

2021 ◽  
Vol 46 (5) ◽  
pp. 925-952
Author(s):  
Colleen Lanier-Christensen

In recent decades, the Organisation for Economic Co-operation and Development (OECD) has become a powerful forum for trade liberalization and regulatory harmonization. OECD members have worked to reconcile divergent national regulatory approaches, applying a single framework across sovereign states, in effect determining whose knowledge-making practices would guide regulatory action throughout the industrialized world. Focusing on US regulators, industry associations, and environmental groups, this article explores the participatory politics of OECD chemical regulation harmonization in the late 1970s to early 1980s. These efforts were conditioned by differential institutional access and resources among stakeholders who sought to shape regulatory knowledge rules. Facing competing European and US approaches to chemical data—a minimum “base set” of test data versus case-by-case determinations—OECD members chose the European approach in 1980. However, US regulatory politics shifted with the election of President Reagan, prompting industry associations to lobby the US government to block the agreement. Examining the micropolitics of these standards in the making, I demonstrate that while long-term structures advantaged industrial actors, ideological alignment with the US government precipitated their decisive influence. The case illustrates the importance of attending to the distinctive politics of international harmonization and the effects on transnational knowledge-making and regulatory intervention.

Subject US political enfranchisement and voter behaviour. Significance With eleven months until the 2020 federal elections, the Democratic Party celebrated some significant victories last month in elections in Virginia, Kentucky and Louisiana, reflecting gains among college-educated white voters in suburbs and perhaps foreshadowing Democratic gains next year. At the same time, the candidate field for the 2020 Democratic presidential nomination is starting to narrow. The Democrats want to win back the US presidency, but recent polling suggests that Republican President Donald Trump maintains an advantage in the Electoral College system that determines who becomes president. Impacts Trump will focus on winning states with many Electoral College votes, such as Pennsylvania and Florida. Trump’s Democratic opponent will target the same states and will try to flip others to the Democrats. Voters’ faith in the electoral system will be eroded if there is further evidence of foreign interference efforts. Concerns about democracy at home could make promoting democracy overseas harder for the US government. Greater polarisation could increase the risk of direction action, protests and violence.


2018 ◽  
Vol 24 (2) ◽  
pp. 447-477
Author(s):  
Juan Equiza-Goñi

This paper shows empirical evidence and theory consistent with the US government using debt optimally to adjust the federal budget to news about long-term growth. First, using historical forecasts from the Congressional Budget Office (CBO) since 1984, I find that government purchases and deficits are positively correlated with expectations about long-term productivity, real gross domestic product, and tax revenue growth, whereas tax receipts are negatively correlated. A structural vector autoregression estimated with US quarterly data in 1955–2015 identifies permanent and transitory productivity shocks and points to “trend” shocks as the source of these correlations. Second, I present an open economy real business-cycle model with stochastic productivity trend and optimal public purchases and taxes. Calibrating the model to the US economy, the Ramsey planners' allocation yields moments aligned with those observed in the data.


Significance The first sentencing on July 30 established the principle that language alone can be punished as illegal if interpreted as secessionist. The law's most dramatic use so far has been against the senior leadership of Apple Daily, Hong Kong's most widely read tabloid and one of the most outspoken critics of its government. Impacts Public distrust of the mainstream media could fuel greater reliance on social media as a news source, deepening political polarisation. In the long term, narrowing the range of views expressed in the mainstream media could subtly influence public opinion in Beijing's favour. There is a small risk of lone-wolf or small-scale, organised political violence against government targets. The US government may put more pressure on US firms and institutions to scale back their presence in Hong Kong. US companies (others less so) may reduce their presence in Hong Kong to avoid mutually exclusive legal responsibilities around sanctions.


2012 ◽  
Vol 4 (1) ◽  
pp. 69-104 ◽  
Author(s):  
Antje Berndt ◽  
Hanno Lustig ◽  
Şevin Yeltekin

We develop a method for identifying and quantifying the fiscal channels that help finance government spending shocks. We define fiscal shocks as surprises in defense spending and show that they are more precisely identified when defense stock data are used in addition to aggregate macroeconomic data. Our results show that in the postwar period, about 9 percent of the US government's unanticipated spending needs were financed by a reduction in the market value of debt and more than 70 percent by an increase in primary surpluses. Additionally, we find that long-term debt is more effective at absorbing fiscal risk than short-term debt. (JEL E62, H56, and H63)


2019 ◽  
Vol 95 (5) ◽  
pp. 1131-1148 ◽  
Author(s):  
Maha Kamel ◽  
Hongying Wang

Abstract In this article, we examine China's promotion of the renminbi (RMB) in international oil trade and explore its implications for the international currency system in the short and the long term. The article traces the rise of the RMB in international oil trade in recent years and provides an analysis of its impact on the internationalization of the Chinese currency. We argue that despite the increasing use of the yuan in oil trade in recent years, in the short term it is highly unlikely that a petro-RMB system will emerge to rival the petrodollar system. Unlike the petrodollar, which combines the qualities of a master currency, a top currency and a negotiated currency, China lacks the economic leadership and the political and geopolitical leverages to make the RMB a major petrocurrency. Although the emergence of the RMB-denominated Shanghai oil futures is an important development, the absence of highly developed financial markets and a strong legal system in China hinders its potential. In the long run, the RMB may take on a more prominent role in the international oil trade as China's weight as an oil importer rises. More importantly, the overuse of financial sanctions by the US government has begun to undermine the role of the dollar within and beyond the oil trade. In addition, the rise of alternative energy sources will diminish the centrality of oil in the world economy, thus reducing the significance of petrocurrencies—whether the dollar or the RMB—in shaping the international currency system.


2018 ◽  
Vol 65 (1) ◽  
pp. 81-96
Author(s):  
Giovanni Verga ◽  
Federica Trani ◽  
Nicoleta Vasilcovschi

Abstract European interest rates movements are affected by various internal and external factors. This paper studies the link between European and American short- and long-term interest rates. In particular, we consider the forward interest rates coming from euro and dollar IRS term structures. The econometric techniques employed are co-integration, Granger-causality, OLS and GMM. Our results indicate that European remote settlement forward and long-term interest rates are primarily driven by US rates and confirm that the causality acts mainly from the US to the Eurozone. This was true even during the recent periods of European Central Bank quantitative easing. These factors weaken the ECB’s ability to intervene. In fact, we found the impact of American monetary policy on long-term interest rates to be also relevant for European bonds.


Author(s):  
Peter R. Breggin

BACKGROUND: The vaccine/autism controversy has caused vast scientific and public confusion, and it has set back research and education into genuine vaccine-induced neurological disorders. The great strawman of autism has been so emphasized by the vaccine industry that it, and it alone, often appears in authoritative discussions of adverse effects of the MMR and other vaccines. By dismissing the chimerical vaccine/autism controversy, vaccine defenders often dismiss all genuinely neurological aftereffects of the MMR (measles, mumps, and rubella) and other vaccines, including well-documented events, such as relatively rare cases of encephalopathy and encephalitis. OBJECTIVE: This report explains that autism is not a physical or neurological disorder. It is not caused by injury or disease of the brain. It is a developmental disorder that has no physical origins and no physical symptoms. It is extremely unlikely that vaccines are causing autism; but it is extremely likely that they are causing more neurological damage than currently appreciated, some of it resulting in psychosocial disabilities that can be confused with autism and other psychosocial disorders. This confusion between a developmental, psychosocial disorder and a physical neurological disease has played into the hands of interest groups who want to deny that vaccines have any neurological and associated neuropsychiatric effects. METHODS: A review of the scientific literature, textbooks, and related media commentary is integrated with basic clinical knowledge. RESULTS: This report shows how scientific sources have used the vaccine/autism controversy to avoid dealing with genuine neurological risks associated with vaccines and summarizes evidence that vaccines, including the MMR, can cause serious neurological disorders. Manufacturers have been allowed by the US Food and Drug Administration (FDA) to gain vaccine approval without placebo-controlled clinical trials. CONCLUSIONS: The misleading vaccine autism controversy must be set aside in favor of examining actual neurological harms associated with vaccines, including building on existing research that has been ignored. Manufacturers of vaccines must be required to conduct placebo-controlled clinical studies for existing vaccines and for government approval of new vaccines. Many probable or confirmed neurological adverse events occur within a few days or weeks after immunization and could be detected if the trials were sufficiently large. Contrary to current opinion, large, long-term placebo-controlled trials of existing and new vaccines would be relatively easy and safe to conduct.


2006 ◽  
Vol 36 (143) ◽  
pp. 177-183
Author(s):  
Naomi Klein

Fitting to its doctrine of preventiv war, the Bush Administration founded a bureau of reconstruction, designing reconstruction plans for countries which are still not destroyed. Reconstruction after war or after a “natural disaster” developed to a profitable branch of capitalist investment. Also the possibilities to change basic political and economic structures are high and they are widely used by the US-government and institutions like the International Monetary Fund.


2014 ◽  
pp. 13-29 ◽  
Author(s):  
S. Glazyev

This article examines fundamental questions of monetary policy in the context of challenges to the national security of Russia in connection with the imposition of economic sanctions by the US and the EU. It is proved that the policy of the Russian monetary authorities, particularly the Central Bank, artificially limiting the money supply in the domestic market and pandering to the export of capital, compounds the effects of economic sanctions and plunges the economy into depression. The article presents practical advice on the transition from external to domestic sources of long-term credit with the simultaneous adoption of measures to prevent capital flight.


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