The determinants of international creditworthiness and their policy implications

The present paper utilizes an empirical measure of creditworthiness based on bankers' perceptions to estimate the effect of various variables hypothesized to influence assessments of countries' debt-servicing capacity. The data pertain to a cross section of countries within the period 1979–1983. Such estimates necessarily employ a ceteris paribus assumption, which prevents a realistic assessment of the effects generated by policy changes. The second part of the paper develops, therefore, a dynamic simulation model of a hypothetical average economy. The simulations allow analysis of changes in macroeconomic variables and creditworthiness over time within a system that maintains accounting identities and behavioral constraints. Several changes in policy variables are considered that highlight the importance of export expansion. The latter is, of course, an often suggested policy objective, but the present paper demonstrates its effectiveness in terms of a somewhat nonstandard criterion.     

Unpacking racial identities: the salience of ethnicity in Southeast Asian-American youth’s schooling experience

This article reconceptualizes white teachers’ notion of their Asian-American students’ racial identity. Forty urban Southeast Asian-American (SEAA) students and seven of their white European-American teachers were examined to determine how the students responded to the white teachers’ assumptions about their identity. This study provides an overview of the U.S. historical and political contexts that shape the positionality of Southeast Asian-American youth in the black–white racial discourse. It found that despite the fact that the teachers lumped the SEAA students into one category, the students highlighted the salience of ethnicity in their lives. One implication of this study is for teacher education programs to train new teacher candidates to move beyond simple racial categorization or race-blind approaches. Instead, teachers should be taught to acknowledge the importance of ethnicity to their students; to examine their own positionalities; and to incorporate more culturally relevant pedagogies into their instructional practices.