PROPOSAL FOR MELLON-LASA SEMINAR GRANT 2011-12
Submitted by Leslie Elliott Armijo (LASA member, Portland State University),
Saori N. Katada (CIS, University of Southern California), &
Carol Wise (LASA member, University of Southern Califormia)
March 30, 2011—Contact: [email protected]
Financial Statecraft and Ascendant Powers:
Latin America and Asia after the 2008-10 Global Financial Crisis
The worst financial crisis since the Great Depression hit the world in the
second half of 2008. We are still processing what went wrong and how we can ensure
that the world will not succumb to a similar self-inflicted disaster any time soon. 1 One
immediate consequence of the crisis has been the expansion of participation in global
financial governance to include the major emerging economies. 2 Since late 2008 the
quarterly meetings of the finance ministers and central bank presidents of the Group
of Seven (G7) advanced industrial countries--the US, Japan, UK, Germany, France,
Italy, and Canada—have been overshadowed by the semi-annual meetings of the
Group of Twenty (G20) large economies, which includes eleven developing or
transitional countries: Argentina, Brazil, China, India, Indonesia, Korea, Mexico,
Russia, Saudi Arabia, South Africa, and Turkey. During the worst days of the financial
crisis, the G20 became the forum through which the heads of major economies made
commitments to jointly engage in economic stimulus spending, in order to prevent the
onset of a prolonged global depression. 3 Even so, world economic growth plummeted
by over 2% in 2009.
Quite unexpectedly, developing countries in the Pacific Rim rebounded
vigorously over the next year, whereas recession lingers in the G7 and EU blocs. In an
immediate sense, this focuses attention on the rising financial capabilities of emerging
powers in Asia and Latin America. This phenomenon also raises a larger question,
which is the crux of our proposal: to what extent might this rebalancing of financial
and other material capabilities in the international system prefigure an eventual shift in
the global hierarchy that has prevailed in more or less the same form over the post-
1
See Armijo, Katada, and Wise (2011). “Unexpected Outcomes across the Pacific Rim: The Quick
Rebound of Emerging Markets from the 2008-9 Global Crisis,” under review.
2
See Secretary of State Hillary Rodham Clinton, “Foreign Policy Address at the Council on Foreign
Relations,” July 15, 2009. Available at: http://www.state.gov/secretary/rm/2009a/july/126071.htm;
3
Stefan Schirm, “Global Politics are Domestic Politics: How Societal Interests and Ideas Shape ad hoc
Groupings in the G-20 which Supercede International Alliances,” Paper presented at Annual Meeting of
the International Studies Association, Montreal, March 15-19, 2011; Bruce D. Jones (2011). “Largest
Minority Shareholder in Global Order LLC: The Changing Balance of Influence and U.S. Strategy,”
Foreign Policy Paper #25, Washington, D.C.: Brookings Institution, March.
1
World War II era? 4 For example, according to two different relative capabilities
indices, the combined world share of the U.S., U.K., Germany, France, and Japan on
such dimensions as economic size, population, foreign exchange reserves, and defense
spending fell from approximately 50% in 1990 to only 25% in 2008. During this same
time frame, the share wielded by the trio of China, India, and Brazil on these
combined indicators rose from about 17% to 25%. 5
We therefore propose to investigate the links between global hierarchy and
national and regional financial statecraft in Latin America and Asia. Who are the major
new financial and political players in Latin America and Asia? Is South-South financial
cooperation within or between the two regions rising? Will global hierarchy be
rebalanced in their favor? In brief: who will manage regional and world financial
governance in the 21st century?
The rationale: National financial policies are inherently financial statecraft
Our working hypothesis is that financial development, both at the national and
regional levels, is a source of both economic growth and political power in the
international system. Of great interest is the possible use by governments of financial
levers to achieve non-financial foreign policy ends, a practice traditionally referred to
as financial statecraft. 6 Documentary evidence suggests that foreign financial policies,
and even national financial development programs, are often understood by the
participants themselves as financial statecraft. 7 .While the political aspect of financial
policymaking is a well-travelled terrain in the international and comparative political
economy literature on the advanced industrial democracies, much less has been
published with reference to emerging economies. 8
4
G. John Ikenberry, Michael Mastanduno, and William C. Wolforth, William C. (2009), “Unipolarity,
State Behavior, and Systemic Consequences,” World Politics, 61, January; Ronald L. Tammen, Jacek
Kugler, et al. (2000). Power Transitions: Strategies for the 21st Century. New York: Seven Bridges Press;
Charles A. Kupchan, Emanuel Adler, et al. (2001). Power in Transition: The Peaceful Change of
International Order. New York: United Nations University.
5
L.E. Armijo, “The 2007-9 Financial Crisis and the Future of International Relations,” Paper presented
at the Annual Meeting of the International Studies Association, Montreal, Quebec, March 15-19, 2011.
6
See Jonathan Kirshner (1979). Currency and Coercion. Princeton: Princeton University Press; Benn
Steil and Robert E. Litan (2008). Financial Statecraft: The Role of Financial Markets in American Foreign
Policy. Washington, D.C.: Council on Foreign Relations.
7
For example, see Government of India, Ministry of Finance. Report of the High Powered Expert
Committee on Making Mumbai an International Financial Centre (New Delhi, 2007).
8
Notable exceptions include Sylvia Maxfield, Governing Capital: International Finance and Mexican
Politics (Ithaca: Cornell, 1990); Sylvia Maxfield, Gatekeepers of Growth (Princeton: Princeton University
Press, 1998); and Jung-en Woo [Meredith Woo Cummings], Race to the Swift (New York: Columbia,
1991). Ricardo Sennes and Tomas Zinner, eds., Serviços financeiros e internacionalizaçao das empresas
Brasileiras: Políticas públicas e estratégias privadas. (São Paulo: CEBRI and Edições Aduaneiras Ltda.,
2009); Lourdes Sola and Laurence Whitehead, eds. Statecrafting Monetary Authority. (Oxford: University
of Oxford, Centre for Brazilian Studies, 2000).
2
In the case of the Western Hemisphere, it has long been recognized that the
magnitude and enormous weight of U.S. investments in the hemisphere has rendered
Latin American governments wary of offending North American creditors and
investors. 9 In the 2000s a similar dynamic has emerged with regard to China’s rapidly
growing role as an investor-creditor. For instance, China has recently announced its
plan to finance construction of an Atlantic-to-Pacific freight and personnel railway
link through Colombia as an alternative to the Panama Canal. This, along with
numerous other Chinese infrastructure investments now underway in Argentina,
Brazil, Chile, Peru, and Venezuela, has left these countries politically beholden to
China in ways that are still difficult to decipher. Even countries with considerable
domestic financial turmoil, such as Venezuela, have leveraged financing into the
potential for influence in the region. Thus Venezuela’s 2006 joint sovereign bond
issuance with Argentina lowered the interest rate spread at which Argentina was able
to access international financing, despite its unresolved $90 billion default in 2001. 10
Rising financial capabilities among the emerging economies around the Pacific
Rim (here defined to include both Brazil and India) may also enhance regional cohesion
vis-à-vis outsiders within both South America and East Asia. A look at recent regional
initiatives such as Asia’s Chiang Mai Initiative-Multilateral or South America’s Banco
del Sur suggests that their designers may have more in mind than the reduction of
economic volatility; the projection of political power also appears to be a joint goal in
the launching of these financial endeavors. Brazil’s public sector National Economic
and Social Development Bank (BNDES) now possesses a loan portfolio significantly
larger than that of either the Inter-American Development Bank or the Latin America
Division of the World Bank. Although BNDES cannot legally finance foreign
governments, it heavily funds Brazilian exporters and multinational corporations
engaged in outward foreign direct investment throughout South America. Similar
observations apply to the China Development Corporation, which has an even larger
pool of financial resources at its disposal. Governments in both regions, but especially
East Asia, deeply resented the conditions imposed by the International Monetary Fund
(IMF) in the wake of the multiple financial crises of the late 1990s, and have since
sought to protect themselves through the buildup of foreign exchange reserves and
creation of regional monetary swap arrangements. Protective measures such as these
proved useful for mitigating the need for IMF intervention in the global shocks of
2008-10.
Moving from the regional to the international level, we note that the United
States is today the world’s largest debtor nation, and a large and growing share of its
public debt is held by foreign central banks. The value of the US dollar depends on the
9
Paul W. Drake (1993). Money Doctors, Foreign Debt, and Economic Reforms in Latin America from the
1890s to the Present. New York: Jaguar Books of Scholarly Resources.
10
Lauren M. Phillips (2010). “The Politics of Joint Sovereign Borrowing: The Venezuelan/Argentine
Bono del Sur,” under review.
3
continuing goodwill of these major holders of dollar reserves, namely China and
Japan, although of course the vulnerability is mutual. Moreover, most of global
growth since 2000 has been provided by the larger emerging economies. This
prognosis could be worsened by a delay in the restructuring of debt in OECD financial
markets, not to mention the dampening effects of a possible asset bubble pop. 11 Our
point: control of global credit has shifted substantially toward emerging markets over
the past decade. These countries are actively experimenting with ways to manage this
new power resource.
The research project: Theoretical, national, and multilateral foci
Our core unit of analysis is the nation-state. We will investigate the goals and
behavior of those governmental and societal actors who attempt to influence national
and international financial policies in major countries. Participants in the project are
either political scientists with sound training in the politics of economic policymaking
or policy-oriented economists with an awareness that national reforms rarely respond
only to economic criteria. Yet we depart from the traditional economic definition of
“politics” as equivalent to corruption or rent-seeking. Rather, politics, and particularly
democratic politics, is the art of aggregating interests and then bargaining and
adjudicating among them.
The project will commission three types of papers. We begin with three papers
on the theoretical framework for thinking about financial statecraft and multilateral
financial governance. A second set of papers will cover the politics of national financial
policymaking in key Latin America and Asian countries. Their goal is to report on the
national financial regulatory framework in each major Latin American and Asia
merging economy, taking the year 2000 as a baseline, and then analyze subsequent
major financial policy reforms, focusing on one or a mix of the following financial
arenas: a) banking regulation and promotion, including the question of the mix
between public and private institutions; b) stock exchange and capital markets policies;
c) exchange rate management; d) monetary policymaking, especially its political
and/or cross-regional aspects; and e) regional currency arrangements. The third and
final set of papers considers the participation of major Pacific Rim emerging powers in
regional monetary collaboration and global financial governance. Again, we want to
emphasize that our proposed participants and collaborators in this project are all
researchers with existing publications in the broad arena of the politics or political
economy of finance.
We will hold an initial Workshop presenting the first version of the papers at
the Center for International Studies of the University of Southern California, in
November, 2011. A panel comprising more polished versions of several of the papers
11
“The Next Bubble,” New York Times, 13 October 2010.
(http://www.nytimes.com/2010/10/14/opinion/14thu2.html?scp=2&sq=asset%20bubbles&st=cse).
4
will be proposed for the San Francisco LASA Congress, March 2012. Joint publication
either in an edited book or a special issue of a journal also is envisioned. All funds
requested from the Mellon/LASA Seminar Grant will be used for travel, lodging, and
duplication or publication-related expenses. We anticipate receiving institutional
matching funds of approximately $10,000 for the local costs of the Workshop,
including travel and lodging for discussants. The home institutions of three
participating researchers also offered to co-sponsor in some fashion, perhaps by
hosting a follow-up event or assisting in translation of the work into Spanish,
Portuguese (FGV-SP), or German (FUI).
Fit with grant priorities
Our proposal responds to each of the expressed aims for the Seminar Grant.
Goal #1) Bring together Latin Americanists with researchers specialized in
other geographic regions. Eight Latin Americanists (three coming from Latin America,
two of whom are junior researchers) and six Asia specialists will present papers. The
principal investigators are mid-career scholars, two with a Latin America
specializations and the other an East Asia expert. All have previously have managed
multi-disciplinary, multi-country projects resulting in edited books or journal special
issues.
Goal #2) Challenge conventional geographic boundaries of “Latin American
Studies.” The project focuses on a new analytical category: large emerging economies
with the capabilities to be regional and global players. This logic suggests comparison
of countries such as Argentina, Brazil, and Mexico with extra-regional “Southern”
emerging powers such as India, Korea, China, and Indonesia, all of which are members
of the G20.
Goal #3) Integrate into Latin American Studies theoretical and/or
methodological perspectives drawn from state-of-the-art research in core disciplines of
the social sciences. The structure of the Seminar is such that a mix of younger and
more senior scholars with a specific geographic area focus on Latin America or Asia
will write most of the papers. Our discussants are senior international political
economy (IPE) scholars knowledgeable about the politics of finance in advanced
industrial democracies. We are grateful that the urgency of the topic has enabled us to
secure commitments to participate from this diverse group.
Proposed Workshop: Main themes and paper topics
I. Theory
Saori Katada (USC, Politics, Asia) and Carol Wise (USC, Politics, Latin America).
“Global Hierarchies and Financial Statecraft: Rebalancing Toward the Pacific
Rim?”
5
Leslie Elliott Armijo (Portland State, Politics, Latin America) and John Echeverri-Gent
(University of Virginia, Politics, Asia). “How Preexisting Mental Models
Structure Debates over Global Finance.”
Laurissa Muehlich (Free University of Berlin, Economics, Latin America). “A New
Financial Capabilities Index: The Systemic Financial Importance of Emerging
Powers.”
II. Financial Statecraft in Latin America and Asia
Kurt von Mettenheim (Fundação Getúlio Vargas, SP, Politics, Latin America). “Public
Banks in South America and Asia.”
Maria Antonieta del Tedesco Lins. (University of São Paulo, Economics, Latin
America). “Argentina, Brazil, and Mexico: The Effects of Monetary, Foreign
Exchange, and Capital Liberalization Policies on Their Regional Positions.”
Ignácio Labaqui (Universidad Católica Argentina, Politics, Latin America).
“Democratic Transitions and Argentina’s Evolving International Financial
Profile”
Leslie Elliott Armijo (Portland State University, Politics, Latin America). “The
Idiosyncratic Politics of Financial Market Liberalization in India and Brazil.”
Natasha Hamilton-Hart (University of Auckland, Politics, Asia). “Financial Security
in South-East Asia”
Victor Shih (Northwestern University, Politics, Asia). “Chinese Financial Statecraft.”
Andrew Walter (London School of Economics, Politics, Asia). “Governing Finance:
International financial standard compliance and financial statecraft in East Asia”
IV. Regional financial politics: South America, Europe, and East Asia
Carol Wise (USC, Politics, Latin America), “Investor or Interloper? The Politics of
Chinese Investment in South America”
Maria Lorca-Sussino (University of Miami, Economics, Latin America). “Regional
Swap Arrangements and the 2008-10 Financial Crisis in Latin America.”
Barbara Fritz (Free University of Berlin, Economics, Latin America). “The 2009
Financial Crisis of the Euro: Lessons for Latin America?”
Ulrich Volz (German Development Institute, Bonn, Economics, Asia). “Global
Hierarchies, Imbalances, and China’s International Financial Strategy.”
Saori Katada (USC, Politics, Asia). “Japanese Financial Statecraft—or the Lack
Thereof—During the 2008-10 Global Financial Crisis.”
Discussants (senior IPE scholars from both Politics and Economics): Benjamin J.
Cohen (UCSB); Barry Eichengreen (UCB, invited); Stephen Haggard (UCSD); Eric
Helleiner (Waterloo University); Two additional specialists from West Coast North
America
C.V. Co-Principal Investigator
Leslie Elliott Armijo
6
Visiting Scholar, Mark O. Hatfield School of Government, Portland State University
Portland, Oregon, USA 97035; [email protected]; www.lesliearmijo.org
Education:
Ph.D. University of California, Berkeley 1989 (International Relations, Political
Economy)
Relevant Publications and Works-in-Progress:
Books & edited special issues
(in progress) Contending Visions of the Americas: Regionalism in the Foreign Policies of
the United States, Venezuela, and Brazil. (with S. Rhodes).
(in progress). Voice and Money through Time: India, Brazil, and Why Democracy Matters
for Finance.
2007. (editor). Journal special sssue on the BRICs Countries (Brazil, Russia, India, and
China), Asian Perspective, 31:4, December.
2002. (editor & contributor). Debating the Global Financial Architecture, Albany, NY:
SUNY.
1999. (editor). Financial Globalization and Democracy in Emerging Markets, New York:
Palgrave/Macmillan.
Articles
2010. “Two Dimensions of Democracy and the Economy,” (with C. Gervasoni).
Democratization, February.
2010. “Brazil, the Entrepreneurial and Democratic BRIC,” (with S. Burges). Polity,
Special issue on the BRICs and U.S. Foreign Policy, C. Roberts, ed.
2008. “Does Democratization Alter the Policy Process? Trade Policymaking in Brazil,”
(with C. Kearney). Democratization, 15:5, October, pp. 991-1017.
2008. “Policy Responses to Globalization: Damned if You Do, Worse if You Don’t,”
Review Essay, Latin American Research Review, 43:3, pp. 259-267.
2007. “The BRICs Countries (Brazil, Russia, India, and China) as Analytical Category:
Insight or Mirage?,” Asian Perspective, 31:4, pp. 1-42.
2006. “Compared to What? Assessing Brazilian Political Institutions,” (with P.
Faucher and M. Dembinska). Comparative Political Studies, 39:6, August, pp. 759786.
2004. “Crises cambiais e estrutura decisória: a política de recuperação econômica na
Argentina e no Brasil,” (with P. Faucher). Dados 47:2 (Rio de Janeiro), pp. 297-334.
2004. “Lamenting Weak Governance: Views on Global Finance,” Review Essay,
International Studies Review, 6:3, pp. 447-452.
2002. "‘We Have a Consensus’: Explaining Political Support for Market Reforms in
Latin America," (with P. Faucher). Latin American Politics and Society, 44:2, pp. 140.
2001. "The Political Geography of World Financial Reform: Who Wants What and
Why?," Global Governance, 7:4.
1996. "Inflation and Insouciance: The Peculiar Brazilian Game," Latin American
Research Review, 31:3, Fall.
7
Book chapters
1997. "Center-State Relations in India and Brazil: Privatization of Electricity and
Banking," (with P.S. Jha). Revista de Economia Política (Brazil), July/November.
1997. "India: Democratic Integrity and Financial Molasses," in R. Bingham and E. W.
Hill, eds., Government and Business Finance: Global Perspectives on Economic
Development, Newark: CUPR Press of Rutgers University.
Co-Principal Investigator
Saori N. Katada
Associate Professor, School of International Relations, University of Southern
California
Los Angeles, California; [email protected]
Education:
Ph.D. University of North Carolina at Chapel Hill, December 1994 (International
Relations/Comparative Politics/Economics)
Publications:
Books
(Single-authored book) Banking on Stability: Japan and the Cross-Pacific Dynamics of
International Financial Crisis Management, Ann Arbor: University of Michigan
Press. (Winner of the Masayoshi Ohira Memorial Book Award, 2002.)
(Edited Volume, with Mireya Solís and Barbara Stallings) Competitive Regionalism:
Explaining the Diffusion of FTAs in the Pacific Rim. London: Palgrave. August
2009.
(Edited Volume, with Mireya Solís) Cross Regional Trade Agreements: Understanding
Permeated Regionalism in East Asia. Berlin: Springer. September 2008.
(Edited Volume, with Hanns W. Maull and Takashi Inoguchi) Global Governance:
Germany and Japan in the International System. Alershot: Ashgate Publishing Ltd.,
2004.
Articles
(With Mireya Solís) “Domestic Sources of Japanese Foreign Policy Activism: Loss
Avoidance and Demand Coherence.” International Relations of the Asia-Pacific.
Vol. 10 (1). January 2010.
“From a Supporter to a Challenger? Japan’s Currency Leadership in Dollar-dominated
East Asia.” Review of International Political Economy. Vol. 15 (3), August 2008, p.
399-417.
(with Saadia M. Pekkanen and Mireya Solís) “Trading Gains for Control: Forum
Choices in International Trade and Japanese Economic Diplomacy.” International
Studies Quarterly. Vol. 51 (4), December 2007, p. 945-970.
(With Mireya Solís) “Understanding East Asian Cross-Regionalism: An Analytical
Framework.” Pacific Affairs. Vol. 80 (2), July 2007. p. 229-257.
(With Mireya Solís) “The Japan-Mexico FTA: A Cross-Regional Step in Japan’s New
Trade Regionalism.” Pacific Affairs. Vol. 80 (2), July 2007, p. 279-300.
8
“Japan’s Two-Track Aid Approach: The Forces behind Competing Triads.” Asian
Survey. Vol. 42 (2), March/April 2002. p. 320-342.
“Japan and Asian Monetary Regionalization: Cultivating a New Regional Leadership
after the Asian Financial Crisis.” Geopolitics. Vol. 7 (1), Summer 2002. p. 85-112.
“Why did Japan Suspend Foreign Aid to China? Japan’s Foreign Aid Decision-making
and Sources of Aid Sanction.” Social Science Japan Journal. Vol. 4 (1), April 2001,
p. 39-58.
“Japanese Foreign Aid after the San Francisco Peace Treaty.” Journal of American-East
Asian Relations. Vol. 9 (3-4), Fall-Winter 2000, p. 1-24.
“Aid Politics and Electoral Politics: Japan, 1970-1992” with Timothy J. McKeown.
International Studies Quarterly. Vol. 42 (3), September 1998, p. 591-600.
“The Japanese Government in Two Mexican Crises: An Emerging Lender-of-LastResort?” Pacific Affairs. Vol. 71 (1), Spring 1998, p. 61-79.
“Two Aid Hegemons: Japanese-American Interactions and Aid Allocations to Latin
America and the Caribbean.” World Development. Vol. 25 (6), June 1997, p. 931945.
Co-Principal Investigator
Carol Wise
Associate Professor, School of International Relations, University of Southern
California
Los Angeles, California; [email protected]
Education:
Ph.D. Political Science, Columbia University, 1991
Relevant publications and works-in-progress:
Books
(in progress). Structural Shift: The Politics of Economic Transformation in Mexico (with
Manuel Pastor).
(in progress). China, Latin America, and the End of Neoliberalism.
2007. Requiem or Revival? The Promise of North American Integration, co-edited with
Isabel Studer. Washington, DC: Brookings Institution.
2003. Reinventing the State: Economic Strategy and Institutional Change in Peru. Ann
Arbor: University of Michigan Press.
2003. Post-Stabilization Politics in Latin America, co-edited with Riordan Roett.
Washington, DC: Brookings Institution.
2000. Exchange Rate Politics in Latin America, co-edited with Riordan Roett.
Washington, DC: Brookings Institution.
1998. The Post-NAFTA Political Economy: Mexico and the Western Hemisphere, edited by
Carol Wise. University Park, PA: The Pennsylvania State University Press.
Articles
9
2009. “The North American Free Trade Agreement.” New Political Economy 1: 135149.
2007. "China's Surge in Latin American Markets: Policy Challenges and Responses"
(with Cintia Quiliconi). Politics and Policy 1: 410-438.
2005. "The Lost Sexenio: Vicente Fox and the New Politics of Economic Reform in
Mexico" (with Manuel Pastor). Latin American Politics and Society 4: 135-160.
2004. "The Political Impact of NAFTA on Mexico: Reflections on the Political
Economy of Democratization" (with Max Cameron). Canadian Journal of Political
Science 2: 301-323.
2001. "Argentina: From Poster Child to Basket Case" (with Manuel Pastor). Foreign
Affairs (November-December): 60-72.
1999. "Latin American Trade Strategy at Century's End." Business and Politics 2: 2-46.
1999. "The Politics of Second Generation Reform" (with Manuel Pastor). Journal of
Democracy 10: 34-48.
1999. "Stabilization and Its Discontents: Argentina's Economic Restructuring in the
1990's" (with Manuel Pastor). World Development 3: 477-503.
Book chapters
2008. “The US Competitive Liberalization Strategy: Canada’s Policy Options.” In
Canada among Nations 2007: What Room for Maneuver? edited by Jean Daudelin
and Daniel Schwanen. Montreal: McGill-Queen’s University Press.
2007. “Peru.” In Energy Politics in the Western Hemisphere, edited by Sidney Weintraub.
Washington, DC: Center for Strategic and International Studies.
2006. “Against the Odds: The Paradoxes of Economic Recovery under Fujimori.” In
The Fujimori Legacy, edited by Julio Carrion. University Park: The Pennsylvania
State University Press.
Estimated Budget
<From Mellon/LASA> Total of $22,000
Items
Air Travel to Los
Angeles, November
2011 (a)
Local transportation
Hotel rooms
Conference Cost
(Davison Conference
Center at USC)
LASA Panel in SF
(May 2012)
Description
Sao Paulo (1,200*2), Buenos Aires (1,200), Berlin
(1,000), Auckland (1,500), London (900), Chicago
(500), Miami (500), Richmond (500), and Portland
(500)(b)
Taxicabs for the authors
($48 per person one-way from LAX by 12) (c)
Three nights for 8 international authors and two nights
for domestic ones by $168 per night (Radisson)
Amount
$9,000
$1,152
$5,040
$61 per person by 20 by two days (includes venue,
breakfast, lunch and two coffees)
$2,440
Travel and accommodation (authorized by Mellon)
$3,000
10
Misc. costs towards
publication
Editorial help, materials and copies
Total
$1,368
$22,000
(a)
The date of the conference to be determined, but likely in November 2011
(b)
In accordance with the Mellon funding criteria, twelve (12) non-local authors are invited. Two German authors have their
own funds for the airline travel.
(c)
Accordng to TaxiFareFinder.com (http://www.taxifarefinder.com/main.php?city=LA).
<From CIS> Total of $7,000 requested to the CIS.
Items
Description
Air Travels
Six discussants from West Coast: Jerry Cohen (Santa
Barbara), Eichengreen (TBC, Berkeley), Haggard (TBC,
San Diego), plus three more
$2,000
Local transportation
Taxicabs and car use for speakers and local participants
$300
Hotel rooms
Two nights for six discussants by $168 per night (Omni)
$2,016
Meals
Dinners for the nights before the conference and the first
evening (20 people * $50 per person * 2)
$2,000
Others
Parking fees, stationeries, phone calls and photocopies
Total
Amount
$684
$7,000
11