Market reactions to regulations on minerals from the democratic republic of the Congo

Using an event study approach to analyze stock market data from the United States, I investigate how regulations on conflict minerals sourced in the Democratic Republic of the Congo were perceived by investors. I find that for a subset of mining companies, stock returns were abnormally high when regulations in the US became more likely. I also find that returns were higher for communications equipment manufacturing companies when strong regulations in the DRC were announced. I argue that these responses were due to the competitive environments faced by each of these company types. These findings relate to debates surrounding the effects of the conflict mineral regulations. While some critics argue that reporting requirements were tantamount to a ban on minerals from the DRC, I find that stock returns for a subset of companies were sensitive to legislation in the DRC after legislation became law in the US, suggesting that market participants did not expect a complete trade ban on regulated mining and trading activities.     

NEW TERRORISM

New or contemporary international terrorism associated with Islamic fundamentalism and the struggle against Zionism and American interests is a recent phenomenon in Kenya, different to that experienced during the struggle against colonialism. Many explanations have been offered as to why Kenya is being targeted, but have not sufficiently explored its close relationship with the West—especially Britain and the United States, the perceived connection between Israel and the former Presidency of Daniel Arap Moi, domestic forces and government policy. Externally the most important explanations for the increase in regional terrorism are the three waves of global terrorism since 1967, the most recent and significant of which is associated with Osama bin Laden and the Palestinian Intifada. These events reverberated in the region, Sudan and Somalia in particular, but also internally. Both internal and external attribution factors explain the resurgence of new terrorism in Africa. In the case of Kenya, terrorist attacks are associated with the country's internal domestic processes and a naïve approach to broader international issues.     

Conflict circuit breakers in the Great Lakes Region of Africa

Conflict resolution in the African Great Lakes Region has been linked to the protocols and projects agreed upon at the Second International Conference on the Great Lakes Region (ICGLR). The ICGLR created a continental-wide framework of conflict circuit breakers focused on resolving the structural and surface situational causes of the 1996 to 2003 armed conflicts that drew in at least six nations and destabilised the entire region. The implementation of these protocols and projects will serve as a test for the African Great Lakes Region to move away from conflict and into a cooperation and development phase; however, the effort to bring peace, stability and development will face obstacles not only in the security sector, but also in developing infrastructure, civil society, and good governance. In summary, this article contends that peace in the Great Lakes Region will depend equally on two factors: internal governance and building civil society institutions, and focused regional interlocking circuit-breaking institutions.     

NUCLEAR ISLANDS

Current International Atomic Energy Agency safeguards do not provide adequate protection against the diversion to military use of materials or technology from certain types of sensitive nuclear fuel cycle facilities. In view of highly enriched uranium's relatively greater ease of use as a nuclear explosive material than plutonium and the significant diseconomies of commercial spent fuel reprocessing, this article focuses on the need for improved international controls over uranium enrichment facilities as the proximate justification for creation of an International Nuclear Fuel Cycle Association (INFCA). In principle, the proposal is equally applicable to alleviating the proliferation concerns provoked by nuclear fuel reprocessing plants and other sensitive nuclear fuel cycle facilities. The INFCA would provide significantly increased nonproliferation assurance to its member states and the wider international community by holding long-term leasehold contracts to operate secure restricted zones containing such sensitive nuclear facilities.