Economic systems and structures Books

Book SynopsisThis comparative analysis of growth, structural change and labour market dynamics in the Greater Mekong countries (Yunnan Province in China, Thailand, Vietnam, Cambodia, Lao PDR and Myanmar) of Southeast Asia is the first of its kind. It explores economic integration and cooperation, the possibilities for improving the functioning of labour markets and facilitating mutually beneficial labour flows in the region.The book begins with a comparative overview of policy reforms, economic performance and structural changes, focusing on economic relations in the Greater Mekong countries. It then examines the salient features of labour market structures and policies, patterns of cross-border migration, and information systems, paying attention to the similarities and differences between countries. It is especially timely in the context of economic transition from socialist systems in the three Indochina countries, the ongoing policy reforms in Yunnan Province and Myanmar, and in light of the Asian financial crisis in shaping growth trends. The analysis yields policy recommendations for improvement in labour market performance.The book will be of great interest to development and labour economists and those working in the field of Asian studies, as well as to policymakers.Trade Review'This is a good short introduction to an important topic.' -- Adam Fforde, Asian Journal of Social Science'This book by Athukorala, Manning and Wickramasekara is a welcome addition to the literature. . . The book unquestionably provides a useful summary of recent macro-level change and trends in and among the countries considered.' -- Ronald Skeldon, Asia and Pacific Migration Journal'There is much to recommend this book. It is well written and free of economic jargon, and will therefore be easily accessible to scholars in many disciplines. It provides an excellent overview of economic and labor issues in a region that has been rather neglected by academics. . . . a well-written volume that represents an important addition to the literature on Southeast Asia and transitional economies. It should be an essential reference to students and scholars interested in Southeast Asian economic development.' -- Kavita Pandit, Papers in Regional Science'. . . being useful seems to be the main purpose of this fine book, as there are no new interpretative theories or counterintuitive propositions, but the authors assemble and organize their data in such a way as to lead to operational conclusions and policy recommendations. . . . This is a useful and informative book for anyone interested in the economies of the greater Mekong region.' -- Thomas R. DeGregori, The Journal of Asian StudiesTable of ContentsContents: Preface 1. Structural Change, Labour Markets and Migration: The Greater Mekong Context 2. Economic Policy Settings and Structural Change 3. Labour Market Adjustment 4. Greater Regional Integration through International Migration 5. Conclusions: Challenges and Policy Options

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Book SynopsisIn this important book, industrial and enterprise reform over the last decade in Eastern Europe is critically reviewed in light of increasing Eastern integration into the global economy. The authors argue for the further globalization of Eastern European enterprise networks as a condition for recovery and growth in the region. Empirical evidence is provided from five industrial sectors (car industry, telecommunication, shipbuilding, computers, software), including case studies and international comparisons.Trade Review'This welcome book examines the automotive industry, with case studies from the Czech Republic, Russia, and Hungary; shipbuilding, with the emphasis on Russia, East Germany, and Poland; food processing throughout the region; telecommunications, with case studies from Russia, Latvia, and Hungary; and computing, both software and hardware, with case studies from throughout the region.' -- Stephen Fortescue, Slavic ReviewThe topic is important and neglected and has major implications for the types of industrial policy that make any sense in transition countries. The clear message of this book is that protective science and technology policies would, for the most part, be a total waste of money. What is needed now is internationalization and a demand-driven approach, exactly the opposite of the former nationally based and supply-led systems existing under socialism.' -- Paul Hare, Heriot-Watt University Edinburgh, UK'Here is a book that goes beyond the abstractions and platitudes of conventional "transition economics" to look at what is really happening on the ground in the post-socialist countries of Eastern Europe . . . The Globalization of Industry and Innovation in Eastern Europe presents a provocative but richly documented assessment of the central dynamic issues facing the East European economies today.' -- David Dyker, SPRU - Science and Technology Policy Research, University of Sussex, UK'The book is important . . . it provides new empirical evidence and new ideas about the restructuring process in Central Eastern Europe. It should be useful to anybody interested in evolution of industry in the region and in the process of re-establishing links with the global economy.' -- Tomasz Mickiewicz, SSEES, University College London, UKTable of ContentsContents: 1. Introduction Part I: Conceptual Framework 2. An Evolutionary View of Post-socialist Restructuring 3. Enterprise Reform and Competition Analysis in the Post-socialist Context Part II: Empirical Analysis and Case Studies 4. The Reemergence of the Automotive Industry in Eastern Europe 5. Local, Regional and Global Production Networks 6. Eastern European Shipbuilding’s Cruise Towards World Markets 7. Food Processing in Western and Eastern Europe 8. Restructuring of the Telecommunications Sector in the West and the East and the Role of Science and Technology 9. Software 10. The Eastern European Computer Industry 11. Restructuring the Computer and Software Industries in Poland Part III: Summary and Outlook 12. Main Findings and Perspectives for Innovation Policies in Eastern Europe and the West Index

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Book SynopsisThe euphoria evidenced in the aftermath of the collapse of communist regimes in the late 1980s and early 1990s sometimes conveyed the impression that the process of democratization would be achieved without difficulty or tribulation. This book sets out to provide a thorough comparative analysis of the challenges which face the emerging democracies of Central and Eastern Europe and considers the impact of political change. Drawing heavily on available survey data, the book provides an in-depth account of how the new democracies of Central and Eastern Europe have coped with four major challenges: political fragmentation, nationalism, lack of respect for human rights, and poorly developed civil service systems. The book demonstrates that although the first few years of the 1990s were marked by increasing disenchantment with the new regimes, the change of governments as a direct result of the electoral process and the prospects for European integration have served to reverse this negative trend. Indeed, the authors find that the new political systems have managed to cope with the challenges so effectively that striking similarities with Western democracies are now apparent.Offering new insights into democratic transition, Challenges to Democracy will appeal to political scientists, diplomats and policymakers, and economists with an interest in European and comparative politics.Trade Review'The book is written in a systematic, clear and accessible style and provides an excellent introduction to the state of democracy in contemporary postsocialist Europe. . . . Recommended for undergraduate, graduate, research, and faculty collections.' -- P. Rutland, ChoiceTable of ContentsContents: Preface 1. Introduction 2. Consolidation of Democracy 3. Societal Fragmentation and Post-Communist Party Politics 4. Democratization and Nationalism 5. The Challenge of Human Rights 6. Civil Society 7. Changing Perspectives on Political Challenges Index

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Book SynopsisThe search for the key to economic growth has proved elusive and contentious. This book uses new empirical evidence to propose an integrated approach for achieving strong industrial and technological capabilities to form the basis for regional and national economic development.The authors use the experiences of countries in Europe and Latin America to show that socio-technical constituencies play a fundamental role in innovation based economic development at both a regional and national level. By blending insights from the industrial cluster and national innovation system approaches with the socio-technical constituencies approach, the authors successfully integrate long standing debates such as agency structure and micro-meso-macro analysis. The work is based both on a theoretical effort to build a new framework for economic growth, and on a number of concrete experiences from a number of countries in Europe and Latin America.Knowledge Flows in National Systems of Innovation will prove essential reading for scholars of innovation, technology and economic development.Table of ContentsContents: Prologue: Alfonso Molina 1. Introduction: The Meso-Foundations of National Innovation Systems Part I: Theoretical Contributions 2. National Systems of Innovation, Industrial Clusters and Constituency-building in Scotland’s Electronics Industry 3. Systems of Innovation, Knowledge and Networks Part II: Regional Industrial Clusters and Sociotechnical Constituencies in Europe and Latin America 4. Constituency-building in the Development of the City of Rome’s Telematics Strategy 5. The Role of the University in Constituency-building for Industrial and Territorial Innovation 6. University–enterprise Linkages in the Area of Biotechnology 7. The Role of the Biotechnology and Pharmaceutical Scientific and Productive Cluster in the Cuban Innovative Activity Part III: Policy Making for Constituency-building in Europe and Latin America 8. Policy Making for Constituency-building in Mexico 9. Industrial Policy of Providing Support to Clusters 10. Policies and Shared Values in the Promotion of Competitiveness Index

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Book SynopsisFirm Size, Innovation and Market Structure uses evolutionary dynamic theory, non-linear mathematics and computer simulation techniques to explore the relationship between firm size, innovation and market structure.The book begins by reviewing the connection between these variables from a theoretical and an empirical point of view, and goes on to illustrate how analytical tools may be used in order to explore Schumpeterian propositions regarding firm size, innovation and the specific role of idiosyncratic events.In the concluding chapter, Mariana Mazzucato focuses on the US automobile industry from 1900-1997, and uses empirical evidence in order to determine whether or not there is a relationship between market share instability and stock price volatility, and to what degree the relationship is connected to industry specific factors.This innovative new book will prove invaluable to researchers, lecturers and scholars of industrial organisation, technology and market structure.Trade Review'. . . the book has shown how some interesting and non-intuitive results could be obtained about the dynamics of firm size, innovation, and market structure . . . the authors deserves appreciation to bring-forth such a valuable document, having a wide literature survey and full of empirical works related to firm size, innovation, and market structure.' -- C.P. Gupta, Journal of Scientific and Industrial Research'Her [Mariana Mazzucato's] work represents an important alternative approach to conventional theories on market structure and the evolution of industries as well as on the innovation and diffusion of new technologies within them. She models her hypotheses in a simple but rigorous way which enables not only new insights to be gained on the subject but also allows the reader to learn about computer simulation methodology and issues related to complexity. The balanced nature of the book makes it very appealing to researchers in the area; a wide literature survey; an introduction to formal economic models on the issue (with topics also raised in complexity theory), and an empirical section.' -- Willi Semmler, University of Bielefeld, Germany'Mariana Mazzucato's Firm Size, Innovation and Market Structure is a stimulating exploration of the rapidly emerging field of evolutionary industrial organization. Mazzucato's research, which combines the insights of the classical economic tradition with the cutting-edge methodology of contemporary evolutionary and complex systems theory, provides a promising model for work in the field and poses a host of researchable and compelling questions. Students interested in pursuing the lines of enquiry pioneered by Schumpeter, Nelson, Winter and Dosi will find this book an invaluable resource.' -- Duncan K. Foley, New School University, USTable of ContentsContents: Introduction 1. Firm-Size Dynamics: New Ideas and Dynamic Methods 2. A Computational Model of Economies of Scale and Market Share Instability: A Deterministic Analysis 3. The Effect of Idiosyncratic Events on the Feedback between Firm Size and Innovation: A Stochastic Analysis 4. Market Share Instability and Stock Price Volatility during the Industry Life-Cycle: The US Automobile Industry Concluding Statement Bibliography Index

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Book SynopsisThis volume of new, original essays reflects the lifelong concerns and writings of the person they honor, Professor Howard Sherman. Sherman wrote on a wide range of topics - the causes of recessions, depressions and mass unemployment under capitalism; the difficulties and challenges of establishing viable democratic planning systems under socialism; the down-to-earth realities of economic life in the United States, the Soviet Union and elsewhere; and the theoretical traditions he drew upon to inform these empirical studies, i.e. Keynesianism, institutionalism and, most especially, Marxism. The contributors follow in Sherman's tradition through their careful analysis of topics such as the long-term trends in contemporary global capitalism; the relationship between Marxism and institutionalism; debates over the usefulness of class analysis; the political economy of financial liberalization; lessons from the demise of socialism in the Soviet Union and China; and the possibilities for advancing a workable egalitarian economic agenda.This book demonstrates the continued vibrancy and relevance of radical political economy as a mode of social scientific analysis. Scholars and students in economics, sociology, history, philosophy and political science will find the essays thought-provoking and informative.Trade Review'The diversity of subject matter and high quality of these essays make this book, capably organized and edited by Robert Pollin, a fitting tribute to the career of Howard Sherman. Readers interested in sampling current radical economic thinking on the issues . . . would be well advised to read it.' -- James Crotty, Journal of Economic LiteratureTable of ContentsContents: Introduction Part I: Howard Sherman and the Contemporary State of Radical Political Economy Part II: Marxism and Institutionalism Part III: Class Analysis, Individual Choice, and Economic Theory Part IV: Political Economy of US Capitalism Part V: Political Economy of Socialism Index

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Book SynopsisEconomic activities that degrade the environment do not simply pit humans against nature. They also pit some humans against others. Some benefit from these activities; others bear net costs from pollution and resource depletion. In a provocative and original analysis, James K. Boyce examines the dynamics of environmental degradation in terms of the balances of power between the winners and the losers. He provides evidence that inequalities of power and wealth affect not only the distribution of environmental costs, but also their overall magnitude: greater inequalities result in more environmental degradation. Democratization - movement toward a more equitable distribution of power - therefore is not only a worthwhile objective in its own right, but also an important means toward the social goals of environmental protection and sustainable development.Combining theoretical analysis with empirical evidence from around the world, James K. Boyce demonstrates that changes in our relationship with nature ultimately require changes in our relationships with each other. He maintains that a more democratic and environmentally sustainable future is possible, but warns that it is not inevitable.This book will appeal to students, scholars, policymakers and other readers interested in the environment, economics and public policy.Trade Review'Professor Boyce's work is an excellent example of how ecological economics can be done in an objective, evidence-based approach that can put issues on the agenda in a manner where they will be taken seriously by other scholars. . . This is a well-written and provocative book that should encourage further research on all these important issues.' -- David I. Stern, International Journal of Social Economics'This succinct and sometimes provocative book sets out to document, quantify and explain the ways in which inequalities of wealth and power create an uneven apportionment of environmental costs across the world. It offers a combination of theoretical analysis and empirical evidence to support the author's central contention that greater democratisation and changes in society's relationship with nature are paramount for achieving the dual goals of environmental protection and sustainable development. . . This book is immensely well written. . . makes for a fascinating read.' -- Ian Bailey, European Spatial Research and PolicyTable of ContentsContents: 1. Stealing the Commons 2. Let Them Eat Risk? 3. Investing in Natural and Human Capital 4. Inequality as a Cause of Environmental Degradation 5. Rethinking the Environmental Kuznets Curve 6. Power Distribution, the Environment, and Public Health 7. The Globalization of Market Failure? 8. A Squandered Inheritance 9. Democratizing Environmental Ownership Index

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Book SynopsisSince the break-up of the Soviet Union in 1991, Russia has experienced a process of rapid fiscal decentralisation: its 88 regions are now in charge of almost half of total budgetary expenditure, while an overhaul of the revenue allocation system has given them substantial control over locally collected revenue. These regions are highly diverse in climate, natural resources and economic development, with some much better equipped than others to adjust to market conditions.Fiscal Federalism in Russia examines the combined impact of decentralisation and diversity on regional equality of service provision and in particular the provision of education. The book begins with an analysis of the system of intergovernmental transfers and goes on to explore the nature and extent of disparities in education spending, paying particular attention to regions where spending has fallen furthest.The book also contains a case study of the allocation decisions affecting the education sector within a single region, Novgorod Oblast, in North-West Russia. Based entirely on field research, the study provides a rare insight into the decision making process at regional and local level, as well as an analysis of the extent of internal revenue and spending disparities.Academics, researchers and those interested in decentralisation or the economics of transition will warmly welcome this detailed analysis of the direction and impact of inter-governmental transfers in Russia.Trade Review'Kitty Stewart has given us an intriguing study of the emerging system of intergovernmental fiscal relations in the new Russia. Having carefully assembled an extensive data set on the intergovernmental finance of education, she uses these data to test a number of important hypotheses concerning winners and losers, disparities in school expenditures, and the allocation of educational resources. The analysis gives us a close look at how the intergovernmental system of finance is working in Russia and leads to a series of proposals for improving the fiscal system.' -- Wallace E. Oates, University of Maryland, USTable of ContentsContents: 1. Introduction 2. Are Intergovernmental Transfers Equalising? 3. The Impact of Decentralisation on Regional Equity of Education Financing 4. Local Financing and Control of Education: A Study of Novgorod Oblast 5. Conclusions Appendices References Index

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Book SynopsisBanking Reforms in South-East Europe gives a critical and detailed overview of banking system restructuring in the transitional countries of South-Eastern Europe - Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Macedonia, Romania and Yugoslavia - and offers suggestions for future reforms. The book opens with a comparison of the experiences of Central European advanced transitional economies with those of the Balkan countries. Proposals are put forward for ways in which positive aspects of the Central European experience can be applied to banking reform in the Balkans. The authors examine the importance of regional collaboration for the overall economic and social transition in the region, and consider whether it can facilitate the next stage of banking reform. They also analyse the results of currency board arrangements as a possible alternative to classical central banking, using the experiences of Bulgaria, Bosnia and the Yugoslav Republic of Montenegro. The book concludes with an analysis of the experience of individual economies and consists of a number of country-specific banking studies, covering all the transitional economies of South-East Europe.The book will be of great interest to both scholars of transition economies and policymakers in finance and financial institutions.Trade Review'. . . it is a very valuable contribution for understanding the actual situation of the South-East European countries, and the steps that need to be taken for the consolidation of an up-to-date banking system and to accelerate, hopefully, an earlier integration of these countries into the European Union.' -- Agim I. Tartari, Journal of International Banking Law and Regulation'. . .Sevic offers an accessible and closely argued account of financial sector reform processes in Southeast Europe. Sevic's book is the result of an extensive research project on banking sector reform in the Southeast European transitional economies undertaken since late 1998. . . an extensive look at this timely volume will pay handsome dividends and could help devise successful business plans.' -- Jens Bastian, Southeast European and Black Sea Studies'The book will be a very agreeable reading to experts on the region. Its comprehensive analysis emphasises past and current conflicts, the recourse to currency board arrangements, and the persisting asymmetries with reference to the functioning of the banking system in Central Europe. . . Banking Reforms in South-East Europe is a book that college students in banking and financial markets, and banking analysts should read.' -- Bruno S. Sergi, South-East Europe ReviewTable of ContentsContents: Preface 1. Assessing the Banking Reforms in South-East Europe Part I: General and Theoretical Issues 2. Economic Reform in South-East European Countries in Transition 3. The Role of the Stability Pact in Financial Sector Reform in South-East Europe 4. Governance Structures 5. Central Bank Reform in South-East Europe: Recent Developments and Prospects 6. Currency Boards and Currency Arrangements in Transition Economies 7. Comparative Models of Banking Reform 8. Banking Reform in South-East European Countries in the Light of the Central European Experience Part II: Country Studies 9. Banking Reform in Albania 10. Banking Reform in Bosnia and Herzegovina 11. The Banking System in Bulgaria 12. Reforming the Banking System in Croatia and its Broader Macroeconomic Environment 13. Banking Reform in Macedonia 14. Banking Reform in Romania 15. Reforming the Banking System in Yugoslavia Index

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Book SynopsisDuring the last decade of the twentieth century, the Korean peninsula was the stage for non-stop, dramatic political and economic events. This volume brings together an unusually broad range of perspectives on US policy towards North Korea, the North Korean economy, and North-South economic co-operation and unification. The year 2000 opened a new chapter on the Korean peninsula; the North-South summit in June was no doubt a historical milestone that could lead to major changes on the peninsula. But the fundamental issues herein addressed are still relevant and important. No overnight solutions or magic bullets exist. Essential ingredients for North-South economic co-operation, ranging from regional security matters to policy nuts and bolts, remain little changed. Assembled in this volume are a diverse group of economists and analysts from academia, government and think tanks in the US and South Korea. Topics range from philosophical to practical policy matters. Students, researchers and policymakers interested in Korea and in the broader issues of economic and political integration will find this volume fresh and insightful.Trade Review'. . . this book does make a novel contribution to diversifying unification discussion. . . unification discussion has been incarcerated in political and emotional traps in the past, and this book challenges those approaches. This book will appeal to both scholars and policymakers who are interested in the costs and benefits of unification.' -- Changzoo Song, Korean StudiesTable of ContentsContents: Foreword by Tony P. Hall Foreword by Donald Gregg Introduction 1. Security Outlook of the Korean Peninsula 2. Politics, Economics, and the Agreed Framework 3. Putting an Edge on Post-Perry Policy 4. Vietnam and Korea: Challenges of Opening up for Development 5. North Korea’s Economic Opening 6. Economic Cooperation between the Two Korea’s: An Historical Analysis 7. Can Reindustrialization of North Korea Support a Sustainable Food Supply? 8. North–South Korean Economic Cooperation in Telecommunications 9. Foreign Investment Regulation in North Korea: An Assessment 10. The Cost and Financing of Korean Unification 11. The Implications of Increased Economic Integration 12. Cost and Benefits of Unification Index

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Book SynopsisThe essays in this volume describe, analyse and compare the achievements and the failures of societies that adopted market-based economies within a democratic polity after a long period of communist rule (Russia and Eastern Europe) or military authoritarianism (Latin America). Together, they also trace the rocky course of liberal economic policies over the whole twentieth century. Area experts from various disciplines seek to establish the extent to which the historical experience of the several countries explains successful transitions as well as the less successful efforts to adapt institutions to the needs of a market economy. The papers further show the dilemmas faced in both Eastern Europe and Latin America in reconciling the efficiency benefits of market economies and the need to achieve or maintain socially acceptable patterns of income distribution among the strata of income receivers. In addition to the essays themselves, comments are provided to further explore specific issues.Researchers and students in economics, economic history, political science and regional studies, and others interested in the economics of transition to a market system will find this comprehensive collection an invaluable resource.Trade Review'The manuscript fills a vacuum in the current literature on liberalization. It goes beyond the concept to unearth sources of economic and political disruptions which have shaped past performance and will more than likely impact future outcomes.' -- Attiat F. Ott, Clark University, US'The last quarter of the 20th century witnessed dramatic attempts at transition and liberalization (widely interpreted). The effects have not always been in the desired direction. Indeed in some cases they have been devastating. It thus makes it imperative to study this experience closely. The book by Werner Baer and Joseph Love entitled Liberalization and its Consequences is very timely. It adopts an interdisciplinary approach in an effective way to examine the experience of Latin America and Eastern Europe concentrating on the last decade of the 20th century. The constraints imposed on the State in this era of neo-liberalism and globalization are discussed along with the implications this entails. Further institutional implications, such as that of the strength of the legal system, rising social inequalities, privatization in the absence of markets and regulatory infrastructure, and others, are also addressed. The comparative perspective of the book is particularly welcome and adds to its value significantly. The book does well in enabling the reader to appreciate this experience of liberalization and its consequences. The approach of the book is squarely within the political economy mould of analysis.' -- Philip Arestis, The Levy Economics Institute of Bard College, USTable of ContentsContents: 1. Introduction 2. Economic Performance and the State in Latin America 3. Rethinking Economic Performance in Central and Eastern Europe, 1870–1989 4. Economic Transition in Eastern Europe 5. How Much Does the Past Count? 6. Hungary’s Post-communist Development in Comparative Perspective 7. Trajectories of East European Transformation 8. Neo-Liberalism Revisited in the Light of the Brazilian Crisis 9. The Russian Oligarchs 10. Privatizing the Commons 11. Privatizing and the Public Interest 12. The Neo-Liberal Experiment in Latin America 13. Institutions and Property Rights Across Time and Space Index

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Book SynopsisThe literature on the character, determinants and relative performance of the leading industrial economies has developed rapidly of late. However many of the most important pieces of writing are now slipping from view because they were originally published in different, often inaccessible and highly specialised academic journals. These three volumes bring together those key articles and provide a new introductory commentary on the literature.This authoritative collection provides the reader with easy access to the full range of arguments now being developed to explain why some forms of economic organisation prospered best in the immediate past, and why some models now seem more effective than others in responding to the new global conditions of intensified international competition and rapid capital mobility. These volumes will be an indispensable reference source for students and researchers specialising in modern capitalism.Trade Review'Gathered together in this collection are all the main scholarly contributions to a set of crucial debates concerning the degree of convergence and divergence in the trajectory of modern capitalism, and the viability of different models of capitalism. Scholars working at the boundaries of political science, economics and sociology will find this three-volume collection indispensable for both research and teaching purposes.' -- Chris Howell, Oberlin College, USTable of ContentsContents: Volume I: Capitalist Models: Divergence and Convergence Acknowledgements Introduction David Coates PART I TYPOLOGIES OF NATIONAL SYSTEMS 1. Barbara Stallings and Wolfgang Streeck (1995), ‘Capitalisms in Conflict? The United States, Europe, and Japan in the Post-Cold War World (1995)’ 2. Will Hutton (1994), ‘The Political Economy of the World’s Capitalisms’ 3. Harold Perkin (1996), ‘The Third Revolution and Stakeholder Capitalism: Convergence or Collapse?’ 4. William Lazonick (1992), ‘Business Organization and Competitive Advantage: Capitalist Transformations in the Twentieth Century’ 5. Robert A. Boyer (2001), ‘The Diversity and Future of Capitalisms: A Régulationnist Analysis’ 6. David Soskice (1990), ‘Reinterpreting Corporatism and Explaining Unemployment: Co-ordinated and Non-co-ordinated Market Economies’ PART II TYPOLOGIES OF NATIONAL SUB-SYSTEMS 7. Chris Freeman (1995), ‘The "National System of Innovation" in Historical Perspective’ 8. Richard Whitley (1994), ‘Dominant Forms of Economic Organization in Market Economies’ 9. John Zysman (1983), ‘Finance and the Politics of Industry’ 10. Ian Holliday (2000), ‘Productivist Welfare Capitalism: Social Policy in East Asia’ 11. Stephen J. Frenkel (1986), ‘Industrial Sociology and Workplace Relations in Advanced Capitalist Societies’ PART III THE CONVERGENCE OF NATIONAL SYSTEMS 12. James E. Cronin (2000), ‘Covergence by Conviction: Politics and Economics in the Emergence of the "Anglo-American" Model’ 13. John Zysman (1996), ‘The Myth of a Global Economy: Enduring National Foundations and Emerging Regional Realities’ 14. Colin Hay (2000), ‘Contemporary Capitalism, Globalization, Regionalization and the Persistence of National Variation’ 15. Herbert Kitschelt, Peter Lange, Gary Marks and John D. Stephens (1999), ‘Convergence and Divergence in Advanced Capitalist Democracies’ 16. Ronald Dore, William Lazonick and Mary O’Sullivan (1999), ‘Varieties of Capitalism in the Twentieth Century’ 17. Hugo Radice (1998), ‘"Globalization" and National Differences’ PART IV THEORIZING CONVERGENCE AND DIFFERENCE 18. Bruno Amable (2000), ‘Institutional Complementarity and Diversity of Social Systems of Innovation and Production’ 19. Hugo Radice (2000), ‘Globalization and National Capitalisms: Theorizing Convergence and Differentiation’ Name Index Volume II: Capitalist Models Under Challenge Acknowledgements Introduction David Coates PART I JAPANESE CAPITALISM 1. Ronald Dore (1993), ‘What Makes the Japanese Different?’ 2. Michael Gerlach (1989), ‘Keiretsu Organization in the Japanese Economy: Analysis and Trade Implications’ 3. Knuth Dohse, Ulrich Jürgens and Thomas Malsch (1985), ‘From "Fordism" to "Toyotism"? The Social Organization of the Labor Process in the Japanese Automobile Industry’ 4. Paul Burkett and Martin Hart-Landsberg (1996), ‘The Use and Abuse of Japan as a Progressive Model’ 5. William K. Tabb (1999), ‘The End of the Japanese Postwar System’ 6. Ronald Dore (1998), ‘Asian Crisis and the Future of the Japanese Model’ PART II EAST ASIAN INDUSTRIALIZATION: THE CASE OF SOUTH KOREA 7. Richard Child Hill and Kuniko Fujita (1996), ‘Flying Geese, Swarming Sparrows or Preying Hawks? Perspectives on East Asian Industrialization’ 8. Jeffrey Henderson (1993), ‘Against the Economic Orthodoxy: On the Making of the East Asian Miracle’ 9. Alice H. Amsden (1990), ‘Third World Industrialization: "Global Fordism" or a New Model?’ 10. Stephen Haggard and Jongryn Mo (2000), ‘The Political Economy of the Korean Financial Crisis’ 11. Dic Lo (1999), ‘The East Asian Phenomenon: The Consensus, the Dissent, and the Significance of the Present Crisis’ 12. Linda Weiss (1999), ‘State Power and the Asian Crisis’ PART III THE GERMAN MODEL 13. Michel Albert and Rauf Gonenc (1996), ‘The Future of Rhenish Capitalism’ 14. Wolfgang Streeck (1997), ‘German Capitalism: Does it Exist? Can it Survive?’ 15. Wendy Carlin and David Soskice (1997), ‘Shocks to the System: The German Political Economy Under Stress’ 16. Anke Hassel (1999), ‘The Erosion of the German System of Industrial Relations’ 17. Pepper D. Culpepper (1999), ‘The Future of the High-Skill Equilibrium in Germany’ 18. Kathleen Thalen and Ikuo Kume (1999), ‘The Effects of Globalization on Labor Revisited: Lessons from Germany and Japan’ PART IV THE SWEDISH MODEL 19. Rudolf Meidner (1993), ‘Why Did the Swedish Model Fail?’ 20. Jonas Pontusson (1992), ‘At the End of the Third Road: Swedish Social Democracy in Crisis’ 21. Stuart Wilks (1996), ‘Class Compromise and the International Economy: The Rise and Fall of Swedish Social Democracy’ PART V EUROPEAN WELFARE CAPITALISM 22. Assar Lindbeck (1985), ‘What is Wrong with the West European Economies?’ 23. Ian Gough (1996), ‘Social Welfare and Competitiveness’ 24. John Grahl and Paul Teague (1997), ‘Is the European Social Model Fragmenting?’ Name Index Volume III: The Ascendancy of Liberal Capitalism Acknowledgements Introduction David Coates PART I LIBERAL CAPITALISM: USA 1. J. Rogers Hollingsworth (1997), ‘The Institutional Embeddedness of American Capitalism’ 2. Stephen D. Cohen (1995), ‘Does the United States Have an International Competitiveness Problem?’ 3. Moses Abramovitz and Paul A. David (1996), ‘Convergence and Deferred Catch-up: Productivity Leadership and the Waning of American Exceptionalism’ 4. David M. Gordon (1994), ‘Chickens Home to Roost: From Prosperity to Stagnation in the Postwar U.S. Economy’ 5. Julie Froud, Colin Haslam, Sukhdev Johal, Jean Shaoul and Karel Williams (1996), ‘Sinking Ships? Liberal Theorists and the American Economy’ 6. Richard B. Freeman (2000), ‘The US Economic Model at Y2K: Lodestar for Advanced Capitalism?’ 7. Robert Brenner (2000), ‘The Boom and the Bubble’ PART II: LIBERAL CAPITALISM: THE UK 8. Bernard Elbaum and William Lazonick (1984), ‘The Decline of the British Economy: An Institutional Perspective’ 9. David Finegold and David Soskice (1988), ‘The Failure of Training in Britain: Analysis and Prescription’ 10. Jill Rubery (1994), ‘The British Production Regime: A Societal-specific System?’ 11. Christel Lane (1992), ‘European Business Systems: Britain and Germany Compared’ 12. Martha Prevezer (1994), ‘Overview: Capital and Control: City-Industry Relations’ 13. Karel Williams, John Williams and Colin Haslam (1990), ‘The Hollowing Out of British Manufacturing and Its Implications for Policy’ 14. Hugo Radice (1999), ‘Britain Under "New Labour": A Model for European Restructuring?’ 15. David Coates (1999), ‘Models of Capitalism in the New World Order: The UK Case’ PART III THE MODELS COMPARED 16. J. Rogers Hollingsworth (1997), ‘Continuities and Changes in Social Systems of Production: The Cases of Japan, Germany and the United States’ 17. William Lazonick and Mary O’Sullivan (1997), ‘Finance and Industrial Development. Part I: The United States and the United Kingdom’ 18. William Lazonick and Mary O’Sullivan (1997), ‘Finance and Industrial Development. Part II: Japan and Germany’ 19. Robert Buchele and Jens Christiansen (1998), ‘Do Employment and Income Security Cause Unemployment?: A Comparative Study of the US and the E-4’ 20. Ronald Dore (2000), ‘Will Global Capitalism be Anglo-Saxon Capitalism?’ Name Index

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Book SynopsisThis unique book - informed by ten years' research - focuses on intellectual property and charts the global transition towards intellectual capitalism with technology-based corporations as prime movers. The book gives a comprehensive overview of the history and fundamentals of intellectual property as well as a textbook introduction to the field.The book sheds new light on the economics and management of intellectual property in large corporations in Europe, Japan and the US. Special emphasis is given to strategies for the acquisition and commercialization of new technologies, patent strategies and strategies for secrecy and trademark, technology intelligence and corporate management of intellectual property. It includes an in-depth study of leading large corporations in Japan - including Canon, Hitachi, Toshiba and Sony. In conclusion, it explores the possible evolution of intellectual property management towards a distributed intellectual capital management in the context of a wider transition to intellectual capitalism, fueled by new technologies in general and new infocom technologies in particular.The book will have particular appeal to practitioners such as managers, economists, engineers and lawyers as well as students and scholars of industrial organization, economics of innovation and technical change, and management of technology.Trade Review'It is recommended to managers, economists, engineers and lawyers and for the students and academics researching in the area.' -- The Computer Law and Security Report'. . . Professor Granstrand has achieved a lot in this volume. . . it contains a wealth of very useful material to feed graduate students, particularly those involved in industrial economics MBA courses and other postgraduate economics and management study, as well as offering a detailed look at the realities of IP management for professional managers and policymakers.' -- Christine Greenhalgh, The Economic Journal'As well as all the other fine things in this book, Professor Granstrand has given us a working vocabulary for the debate on these larger issues which is now getting under way, and I have no doubt that it will have wide influence, which it richly deserves.' -- W. Kingston, Journal of Economics/Zeitschrift fur Nationalokonomie'Throughout the book, [Granstrand] instructively compares and contrasts the management of intellectual property in the US, Japan and Europe. The first section, on the philosophy, history and economics of intellectual property, is very detailed and displays an excellent grasp of the many strands of literature on this subject. . . . Granstrand does an excellent job of organizing an immense quantity of material on intellectual property.' -- M. Perelman, Choice'Professor Ove Granstrand furnishes us with useful suggestions for effective intellectual property (IP) management using the detailed analysis of data and facts on the Japanese industries which have successfully developed since World War II. He repeatedly visited Japan and conducted many interviews with corporate IP experts and top management. This book is really informative for not only those interested in IP but also R&D leaders and those in top business management.' -- Akira Mifune, TheraTech Japan Inc., Japan'Ove Granstrand's book takes the reader into uncharted waters: the waters of an Intellectual Capitalism that promises to restructure the organization of economic life in the 21st century. In the course of his examination he shines the spotlight on recent developments in Japanese corporate capitalism that will prove to be highly illuminating to western readers.' -- Nathan Rosenberg, Stanford University, US'This insightful book analyzes developments in Japan, Sweden, and the United States to illuminate the increasing emphasis placed on intellectual property in corporate strategies.' -- F.M. Scherer, Harvard University and Princeton University, USTable of ContentsContents: Preface 1. From Intellectual Property to Intellectual Capitalism 2. Philosophy and History of Intellectual Property 3. Patents and Intellectual Property: A General Framework 4. The Technology-Based Firm: A General Framework 5. Japanese Patenting – An Overview 6. Technology and Commercialization Strategies 7. Intellectual Property Policies and Strategies 8. Intellectual Property Organization and Management 9. Analysis of Patent Information 10. Intellectual Capitalism and Beyond Index

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Book SynopsisIn the 1990s, institutional and evolutionary economics emerged as one of the most creative and successful approaches in the modern social sciences. This timely reader gathers together seminal contributions from leading international authors in the field of institutional and evolutionary economics including Eileen Appelbaum, Benjamin Coriat, Giovanni Dosi, Sheila C. Dow, Bengt-Ake Lundvall, Uskali Maki, Bart Nooteboom and Marc R. Tool. The emphasis is on key concepts such as learning, trust, power, pricing and markets, with some essays devoted to methodology and others to the comparison of different forms of capitalism. An extensive introduction places the contributions in the context of the historical and theoretical background of recent developments in economics and the social sciences.Essential reading for lecturers, researchers, graduates and advanced undergraduates in economics, business studies and sociology, this diverse yet complementary collection of essays will also find a broad readership amongst those wanting to understand the manifest changes apparent within modern socio-economic systems.Table of ContentsContents: Introduction by Geoffrey M. Hodgson I LEARNING, TRUST, POWER AND MARKETS 1 Marc R. Tool, ‘Contributions to an institutionalist theory of price determination’, in Geoffrey M. Hodgson and Ernesto Screpanti (eds) (1991), Rethinking Economics: Markets, Technology and Economic Evolution, Aldershot: Edward Elgar, pp. 19–39 2 Bengt-Åke Lundvall, ‘The learning economy: challenges to economic theory and policy’, in Klaus Nielsen and Björn Johnson (eds) (1998), Institutions and Economic Change: New Perspectives on Markets, Firms and Technology, Cheltenham: Edward Elgar, pp. 33–54 3 David Young, ‘The meaning and role of power in economic theories’, in John Groenewegen, Christos Pitelis and Sven-Erik Sjöstrand (eds) (1995), On Economic Institutions: Theory and Applications, Aldershot: Edward Elgar, pp. 85–100 4 Sandye Gloria-Palermo, ‘Discovery versus creation: implications of the Austrian view of the market process’, in John Groenewegen and Jack Vromen (eds) (1999), Institutions and the Evolution of Capitalism: Implications of Evolutionary Economics, Cheltenham: Edward Elgar, pp. 78–91 5 Hans Berger, Niels G. Noorderhaven and Bart Nooteboom, ‘Determinants of supplier dependence: an empirical study’, in John Groenewegen, Christos Pitelis and Sven-Erik Sjöstrand (eds) (1995), On Economic Institutions: Theory and Applications, Aldershot: Edward Elgar, pp. 195–212 II PLURALISM AND COMPARATIVE PARADIGMS 6 Benjamin Coriat and Giovanni Dosi, ‘The institutional embeddedness of economic change: an appraisal of the “evolutionary” and “regulationist” research programmes’, in Klaus Nielsen and Björn Johnson (eds) (1998), Institutions and Economic Change: New Perspectives on Markets, Firms and Technology, Cheltenham: Edward Elgar, pp. 3–32 7 Uskali Mäki, ‘The one world and the many theories’, in Andrea Salanti and Ernesto Screpanti (eds) (1997), Pluralism in Economics: New Perspectives in History and Methodology, Aldershot: Edward Elgar, pp. 37–47 8 Sheila C. Dow (1997), ‘Methodological pluralism and pluralism of method’, in Andrea Salanti and Ernesto Screpanti (eds) (1997), Pluralism in Economics: New Perspectives in History and Methodology, Aldershot: Edward Elgar, pp. 89–99 III VARIETIES OF CAPITALISM 9 Eileen Appelbaum and Ronald Schettkat, ‘Institutions and employment performance in different growth regimes’, in Jonathan Michie and Angelo Reati (eds) (1998), Employment, Technology and Economic Needs: Theory, Evidence and Public Policy, Cheltenham: Edward Elgar, pp. 91–114 10 Bernard Chavance and Eric Magnin, ‘Emergence of pathdependent mixed economies in Central Europe’, in Ash Amin and Jerzy Hausner (eds) (1997), Beyond Market and Hierarchy: Interactive Governance and Social Complexity, Cheltenham: Edward Elgar, pp. 196–232 11 Geoffrey M. Hodgson, ‘Varieties of capitalism and varieties of economic theory’, in Klaus Nielsen and Björn Johnson (eds) (1998), Institutions and Economic Change: New Perspectives on Markets, Firms and Technology, Cheltenham: Edward Elgar, pp. 215–42 Index

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Book SynopsisThe eastwards expansion of the European Union is one of the most explosive economic and political issues of the early 21st century. Economic and financial stability combined with rising prosperity in the applicant countries are increasingly seen as necessary preconditions for European Union membership.This authoritative volume, written by scholars and practitioners from Central and Western Europe and the United States, confronts the issues involved in three of the countries most likely to be successful applicants to the EU - the Czech Republic, Hungary and Slovenia. A spotlight is turned on the banking and financial industries, as they are crucial to the achievement of economic stability. The blend of expertise deployed, which draws on in-depth knowledge and extensive experience in central banking, financial and commercial law, business, practical policy making and economic analysis, ensures that this book is timely, relevant and insightful.The authors suggest that the role of the state in both creating and maintaining an effective financial sector is central. Furthermore, they argue that well-regulated commercial banks and strategic foreign investors are a must as, in practice, the attempt to skip straight to modern capital markets has been ruinous.This accessibly written volume will be of interest to students and scholars of economics, finance, law, political science, the sociology of economic life and European studies.Trade Review'. . . this book would be suited to lawyers and non-lawyers alike. In addition, it provides an interesting look at the EU banking system and the systems of Central and Eastern European countries.' -- Ellie Palmer, Journal of International Banking Law and RegulationTable of ContentsContents: Preface 1. Introductory Overview Part I: Regulatory Background 2. Evolution of EU Banking: Supervisory Implications 3. Harmonisation and Legal Transplantation of EU Banking Supervisory Rules to Transitional Economies: A Legal Approach Part II: Case Studies 4. Banking Regulation and Supervision in Associated Countries: A Case Study of the Czech Republic 5. An Outline of the Banking Regulation and Supervisory System in Slovenia 6. Hungarian Banking in Transition Part III: Policy Issues and Implications 7. Real Dangers in Banking Crises: Examples of Failed Hungarian Banks 8. Western Rules for Eastern Banking Part IV: Conclusion 9. The New Pragmatism and a New Paradigm: The Transformed Role of the State Index

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Book SynopsisThe essays contained herein span over a decade and reflect David Prychitko's thinking about the role of the market system, and its relation to planning and democratic processes. The collection consists of previously published and unpublished articles written not only for economists but also for an interdisciplinary audience. Prychitko extends the Austrian School's criticism of central planning to include the decentralized, self-managed and democratic models of socialism - those that were supposed to distinguish Yugoslav-style socialism from Soviet socialism. He critically evaluates the socialist and market-socialist proposals of contemporary advocates including Michael Albert and Robin Hahnel, Ted Burczak, Branko Horvat, and Joseph Stiglitz. A younger Austrian economist, Prychitko has also emerged as an internal critic within that tradition. He questions the Austrian School's claims that the unhampered market maximizes social welfare, that any actions of the state necessarily reduce welfare, and that anarcho-capitalism is viable and desirable. At the same time, he carefully discusses the viability of worker-managed enterprise from a market-process perspective, and offers a qualified defense.Scholars, particularly those with an interest in Austrian economic thought, comparative political economy and free market libertarianism will find this collection a valuable resource.Trade Review'David Prychitko's Markets, Planning and Democracy marks a significant step forward in developing Austrian theory. . . I have little to disagree with in this volume, and much to really like.' -- Gus diZerega, Review of Austrian Economics'. . . for a reader who is interested in East Europe's socio-political changes the book makes fascinating reading, although it tells very little about the reality of these countries over the past decade. . . Prychitko's essays are actually rather historical: they are a good introduction to the waves of economic thinking that shaped the world in the twentieth century. This historical relevance may actually be the most important aspect of this book.' -- Henri Vogt, DemocratizationTable of ContentsContents: Introduction: Markets, Planning and Democracy in the Age of Post-Communism Part I: The Possibility of Economic Democracy: Self-Managed Socialism versus the Self-Managed Firm 1. Comparative Economic Systems 2. Marxism and Decentralized Socialism 3. Did Horvat Answer Hayek? The Crisis of Yugoslav Self-Management 4. Perestroika in Yugoslavia: Lessons from Four Decades of Self-Management 5. Marxisms and Market Processes 6. Marx, Postmodernism and Self-Management: Reply to Abell 7. The Critique of Workers’ Self-Management: Austrian Perspectives and Economic Theory 8. Hayekian Socialism: Rethinking Burczak, Ellerman and Kirzner Part II: Capitalism and the Quest for Utopia 9. Formalism in Austrian School Welfare Economics: Another Pretense of Knowledge? 10. Expanding the Anarchist Range: A Critical Reappraisal of Rothbard’s Contribution to the Contemporary Theory of Anarchism 11. The Welfare State: What is Left? 12. Does Market Socialism Have a Future? From Lange and Lerner to Schumpeter and Stiglitz 13. Socialism as Cartesian Legacy: The Radical Element within F.A. Hayek’s The Fatal Conceit 14. The Collapse of Communism – A Decade Later 15. Thoughts on Austrian Economics, ‘Austro-Punkism’, and Libertarianism References Index

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Book SynopsisThis comprehensive and impressive volume presents the first book-length, multi-country investigation of reform of economic education in transition economies. Authors from the West and from transition economies describe the major changes in economics content and instruction that occurred in schools and universities throughout nations in Eastern and Central Europe and the former Soviet Union from 1989 to 2000. Nine of the chapters discuss specific countries - Belarus, Bulgaria, Georgia, Kyrgyzstan, Latvia, Poland, Romania, Russia, and Ukraine. Other chapters describe reforms in the undergraduate economics curriculum at Moscow State University, Kiev State University, and Belarus State University. One chapter reports the findings from a five-nation study of the effect of economics programs to retrain teachers on the economic understanding of secondary students. Another chapter explains the important role of economic education in creating support for public policy reforms in a nation. The results from multi-national surveys of public attitudes toward economic reforms and the market economy are analyzed in one chapter. The book concludes with an insightful explanation of the major 'change agents' responsible for the reform of academic economics and the teaching of economics in the transition economies.Anyone interested in economic education, transition economies, or educational reform in schools and universities will find this book a unique and fascinating reading.Trade Review'. . . the book has much that is of interest, especially in the country studies with the detailed information they provide about educational reform in the transition countries. It is of value to a number of readerships, especially teachers of economics, academics and others interested in the process of transition from state socialism and in emerging markets.' -- W.J. Morgan, International Journal of Educational Development'The book provides a fascinating overview of many of the issues, achievements and continuing difficulties involved in one of the central educational issues of recent years. The accumulation of country studies helps to provide a broadly consistent picture of problems and difficulties leavened by genuine successes and achievements. . . the book provides an excellent coverage of the issues and problems facing educators in those contexts and is to be commended to anyone interested in these issues, whether at academic or policy-making levels.' -- Neil Kay, The Economics of Transition'The volume is of greatest interest to those pursuing issues of the implementation of economics education and its impact at an elementary level on economic understanding and attitudes. Through generally careful statistical analysis it shows what can be done even in a most difficult environment, as well as the constraints on change imposed by Soviet legacies. It is a valuable addition to the literature on economics pedagogy.' -- Richard E. Ericson, Slavic ReviewTable of ContentsContents: Foreword Part I: The Academic and Public Policy Transition in Teaching Market Economics 1. The Academic Transition from Marxism to Market Economics 2. Attitudes Toward Markets and Market Reforms in the Former Soviet Union and Eastern Europe 3. Reforming Undergraduate Economics Instruction in Russia, Belarus, and Ukraine: Curriculum, Personnel, and Clientele Issues 4. The Effects of Teacher Programs on Student Economic Understanding and Market Attitudes in Transition Economies 5. Economic Education as the Missing Link in Georgian Policy Reform Part II: Country Reports on Reforming Economic Education 6. Economics Instruction in Belarus 7. Economic Education Reform in Bulgaria 8. Economic Education in Kyrgyzstan 9. Economic Education in Latvia: Yesterday, Today, and Tomorrow 10. Poland: Teaching Economics Before, During, and After the Transition 11. Economic Education Reform in Romania 12. The Status of Economic Education in Russia 13. Economic Education in Ukraine Part III: Conclusion 14. Reforming Economics and Economics Teaching in the Transition Economies: Agents of Change and Future Challenges Index

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Book SynopsisTransition and Growth in Post-Communist Countries documents the first ten years of economic transition in Central and Eastern Europe. It examines economic growth, stabilization policies and the reformation of social safety nets in the formerly communist countries. The analysis is presented by prominent architects of the economic transition who have been directly involved in both designing and implementing the programme of economic reforms. Using theoretical and empirical analyses the volume concludes that the countries which have successfully implemented major programmes of macroeconomic stabilization and institutional restructuring have experienced a much faster growth of national income and wealth than the non-reformers.This authoritative volume will be compelling reading to those interested in emerging market economies, the economics of transition, and international political economy. Researchers, lecturers and students of international macroeconomics and international political relations will also find the book useful.Trade Review'This exceptionally strong collection is the best single book yet to appear on the reform process in the postsocialist economies. Although it will primarily interest economists, it is also accessible to students of political science.' -- P. Rutland, ChoiceTable of ContentsContents: Preface Part I: Uneven Reforms – Unbalanced Growth Part II: Financial Openness and Approaches to Monetary Integration Part III: Reforming Social Safety Nets Part IV: Political Challenges of Transition Index

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Book SynopsisThis book provides the first comprehensive and accessible account of the evolution of exchange rate regimes in the twentieth century. It presents a chronological, non-technical history and in doing so manages to link the past with the present to shed new light on the merits of different exchange rate systems.Since the golden age before the First World War, the international monetary system has experienced several changes in exchange rate regimes, alternating between fixed and floating rate systems interspersed with managed or dirty floats. The authors examine and assess the evolution of exchange rate regimes since the First World War to the present day. They discuss the forces that have brought about change in order to determine how different regimes affected the economic environment. They consider the merits or otherwise of the respective regimes and assess the evidence and arguments for and against fixed and floating exchange rate systems.Exchange Rate Regimes in the Twentieth Century provides a coherent and manageable analysis of a complex subject. It will prove invaluable to both undergraduates and postgraduates studying economic history, international economics and international studies.Trade Review'This book provides an accessible survey of the substantial literature that has now accumulated on exchange-rate regimes in the twentieth century . . . a welcome addition to the literature.'Table of ContentsContents: Preface Introduction 1. The Restoration of Monetary Stability in the 1920s 2. The New Gold Standard and its Disintegration 3. Life after Gold: Currency Regimes of the 1930s 4. The Bretton Woods Era 5. The Aftermath of Bretton Woods 6. The Evolution of the European Monetary System 7. Do Monetary Systems Matter? References Index

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Book SynopsisThis book provides an incredibly detailed and thorough account of how Vietnam's dependence on Soviet aid during the 1960s and 1970s sustained and yet ultimately undermined the centrally-planned economy. Foreign aid provided most of the resources which, in the context of an under-developed agrarian economy, permitted planned industrialisation. Yet, as in other socialist countries, chronic shortages emerged and, particularly when aid supplies were cut after 1975, encouraged individuals and enterprises to divert resources to local uses. The authors show how development of non-plan trading relations was based on supplies of scarce, aid-subsidised goods which provided the means for local authorities, enterprises and individuals to convert their positions of political and social power into capital. They further highlight the ways in which new, market-oriented trade relations emerged in symbiosis with the planning system and continue to influence the economic structure and institutions today. Economic Transition in Vietnam outlines the many problems currently facing Vietnam, not least how new global forms of integration are affecting future development.Trade Review'. . . this book by Melanie Beresford and Dang Phong is a welcome contribution . . . Economic Transition in Vietnam is written by two Vietnamese-speaking authors, both with a thorough knowledge of Vietnamese culture and traditions . . . Economic Transition in Vietnam is, to summarize, a very useful complement to the more theoretical literature on problems of transition . . . the focus is original and helps us to a better understanding of the key role played by the bottom-up and spontaneous elements of the reform process.' -- Stefan de Vylder, Journal of Economic Literature'This is an invaluable contribution to our understanding of an important yet still enigmatic Asian economy. Vietnam clearly has the potential for high speed, export-oriented economic growth, yet its performance and institutional transition during the past decade have been disappointing. The authors throw much light on this paradox. Particularly eye opening are sections dealing with the roles of smuggling, illicit trade, students and diplomats in Vietnam's modern development. Not to be missed by anyone seriously concerned with Asian trade and economics.' -- Christopher Howe, School of Oriental and African Studies, University of London, UKTable of ContentsContents: Preface Part I: The Development of Foreign Trade and Aid Since 1960 1. Foreign Trade and Aid in the Development of a Market Economy 2. Reform of the Foreign Trade System Part II: The Development of Unofficial Trade and Aid 1976–1996 3. Introduction 4. Commercial Links with the Soviet Union and Eastern Europe 5. Goods Sent by Overseas Vietnamese to their Relatives 6. The Intershop System 7. VOSCO Goods 8. Cross-Border Trade between Vietnam and Laos 9. Trade Across the Cambodian Border 10. Cross-Border Trade with China 11. Sales of Goods and Services to Foreigners 12. International Payments Part III: Conclusion 13. Past, Present and Future References Index

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Book SynopsisThis stimulating book addresses the relationship between market authority and political authority - a favourite theme of Susan Strange to whom the book is dedicated. From a survey of the bias against capital liberalisation in economic thought to an analysis of the US role in global monetary affairs, it discusses how and why free capital flows contribute to the instability of the global capitalist system. The internationally renowned contributors analyse the history and theory of international capital flows to make sense of contemporary global investments and what they mean for global polity and the economy. They argue over the challenges of integrating large developing countries into a liberal world order and the consequences of the multilateral system for the world's poor. In further discussions they investigate the sustainability of global capitalism in light of financial crises, widespread inequality and the uncertain future for traditional welfare states. They also advance various mechanisms through which they believe greater stability and equity could be introduced into the global financial system and the world economy. Implicit in these arguments is the shared belief that tensions between visions of a rule-based, liberal world and concepts of a more equitable distribution of resources drive most of the major conflicts in the global economy.Investigating the economic, political and social drawbacks of volatile global finance, and the human choices required to introduce stability, equity and a sense of purpose to the world economy, Markets and Authorities will be an invaluable addition to the fields of economics, political science, political economy and international business.Table of ContentsContents: Preface Introduction 1. The ‘Home Bias’ Approach in the History of Economic Thought: Issues on Financial Globalisation from Adam Smith to John Maynard Keynes 2. Benign Neglect 3. Musings on the World Political Economy of the Future: A Plural Global System? 4. Global Poverty and the Rich-Country Racket 5. Pensioners to the Casino 6. Private Power and Public Authority Postscript Index

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Book SynopsisIn the past thirty years the financial sector has seen unparalleled growth and has exerted increased economic and political influence and significance. This growth has come hand-in-hand with several serious economic crises and greater monetary instability. Set against this background, this important book offers a wide ranging, critical analysis of the financial sector.Each of the chapters explores a different theme under the general topic of money, finance and capitalist development. The performance of capitalist economies is first analysed from a Keynesian evolutionary perspective before moving to a focus on the East Asian crisis and asking the question of whether the global neo-liberal regime can survive in Asia. The rapid growth of the financial sector has involved, amongst other changes, a dramatic growth in the sale of financial derivatives. This activity is examined and found to increase uncertainty rather than decrease risk. The nature of money, and in particular the nature of endogenous credit money, is thoroughly discussed, and the political economy of central banks and their operations is reviewed. The book concludes with a critical assessment of the non-accelerating inflation rate of unemployment.Money, Finance and Capitalist Development will be of great value and interest to financial and monetary economists, as well as students and scholars of macroeconomics and finance.Trade Review'A valuable collection for those interested in contemporary economic issues. . . an excellent overview of the increasingly important financial sector and of its implications for macroeconomic performance and development.' -- Charles J. Whalen, Journal of Economic IssuesTable of ContentsContents: Preface 1. Money, Finance and Capitalist Development 2. An Evolutionary–Keynesian Analysis of Capitalist Performance 3. Can the Global Neoliberal Regime Survive Victory in Asia? 4. Financial Derivatives, Liquidity Preference, Competition and Financial Inflation 5. The Endogeneity of Money 6. Political Economy of Central Banks: Agents of Stability or Sources of Instability 7. The NAIRU: A Critical Appraisal Index

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Book SynopsisThe implementation of a democratic order embedded in a market economy environment has proved immensely difficult. Furthermore, this process is subject to tremendous variety within Central and Eastern Europe. Ten years after the collapse of communism it was apparent that only Poland and Slovenia surpassed their 1989 levels of GDP. This book scrutinises the arrangements to enforce good governance in this area both by means of external help and domestic political leadership.From the popular assumption that transformation is a collective good, it follows that the problem of free-riding has to be faced. Consequently there is a danger that transformation may never be completed. This book empirically tests the relationship between economic performance and good governance focusing upon voluntary coercion as a means to prevent free-riding behaviour. The author examines the role of international organisations and discusses elite formation as an important element of good governance - something often ignored in the economic analysis of economic performance.Scholars and researchers of political and economic transformation in Central and Eastern Europe as well as those from the fields of political economy, international relations and political science will find this book enlightening.Trade Review'Undeniably Good Governance in Central and Eastern Europe provides many insights in the political economy of institutional reform and constitutes an important contribution to the growing literature on "second-generation" reforms.' -- Carlos Santiso, DemocratizationTable of ContentsContents: 1. Taking Stock on Transformation: Market Reform and Democratisation in Central and Eastern Europe 2. Good Governance and the First Decade of Transition: An Overview 3. Recovery and Growth in Transition Economies, 1990–97: A Stylised Regression Analysis 4. Governance, Conditionality and Transformation in Post-socialist Countries 5. International Finance Institutions and Conditionality in Eastern Europe 6. Transformation in the Czech and Slovak Republics: Elite Receptions and Responses 7. 1+1=? The Post-unification East German Elite: Analytical Caveats Bibliography Index

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Book SynopsisRecent political developments on the Korean peninsula suggest both the possibility and desirability for the neighboring powers to establish a new framework for regional peace. The US and North Korea have managed to reach an agreement to reduce mutually hostile threats on a reciprocal basis, and to normalize diplomatic relations by removing economic sanctions. They have thus created conditions potentially favorable for the expansion of trade and the inflow of economic assistance and foreign direct investment to North Korea.A crucial question, however, is will North Korea choose to transform its internal system and adopt an open-door policy in an effort to revive its stagnant economy? The distinguished contributors to this volume address the central issue of the development potential of the North Korean economy and the potential compatibility of economic reform with the maintenance of internal political stability. They examine what will be needed in the way of reform for North Korea to build its social infrastructure and manage its industrial transition to become part of the global market economy. Lessons are drawn from the experiences of China's economic reform since 1979 and German reunification and some sharp insights are provided into the economic forces that will play a major role in shaping the future course of North Korea.This timely book will be of great interest to policymakers, scholars, and students of Asian and transition economies.Trade Review'The chapters in the volume are empirically rich and informative and generate very useful policy implications. Its editors should be commended for successfully undertaking the difficult task of weaving diverse subjects into an analytically coherent whole . . . this book makes a very useful and timely contribution to our understanding of the North Korean economy. It is strongly recommended for Korean and East Asian specialists as well as students of transition economies.' -- Chung-in Moon, Journal of Economic LiteratureTable of ContentsContents: Preface Part I: Introduction Part II: The Political Economy of North Korea Part III: Development Potential under Reform Part IV: The Experience of Other Transition Economies Part V: The Availability of Social Infrastructure Part VI: The Importance of Industrial Location Index

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Book SynopsisIt is a widely held belief that the Polish experience of system transformation following the final collapse of 'real socialism' in 1989 is one of the 'best'. Poland into the New Millennium surveys the country's post-communist transformation as it prepares for the challenges of the early years of the new century.The contributors describe key aspects of system transformation in order to promote better understanding of the nature of the processes introduced to the economy and society since 1989. The book seeks to illustrate what has been achieved - and what has not - and tentatively explores likely future developments in relation to the problems that may lie ahead.Entry into the European Union figures as a major issue, but the volume contains sometimes controversial and divergent interpretations of the underlying dynamic shaping Polish society in the new millennium.This comprehensive and multidisciplinary book will be invaluable to researchers, lecturers and students concerned with post-communist transformation across the social sciences and will be of great importance to members of international organisations, consultancies, and financial institutions with a particular interest in Poland.Trade Review'I heartily recommend this book to all students of the transition zone. Poland has a great deal to teach us, as long as we know what has happened there and how. This well-chosen set of essays provides the reader with just that knowledge.' -- Roy Gardner, Slavonica'Too often discussions with regard to complex socioeconomic problems have descended into a narrow debate on the pros or cons of a neoliberal approach to economics. It is refreshing, therefore, to find a book that tries to offer an account of the transition, in this case Poland's, in a way that recognizes ideological splits but also grounds the research in the physical actualities of life in Poland . . . This book is made richer by its diversity of views . . . If . . . you wish to get a good feel for the main debates within the country and some of the serious issues that create those strong feelings, then I am happy to recommend this work to you.' -- Elizabeth Deboer-Ashworth, Slavic Review'Poland into the New Millennium is a welcome addition to the literature on transition. It is published at a time of great uncertainty in the Polish transformation with possible EU accession in the near future. . . anyone with an interest in transition the intimate familiarity with the process portrayed here is fascinating and for those specifically interested in Poland it is essential reading.' -- Stuart Shields, The Global SiteTable of ContentsContents: Preface 1. Poland into the New Millennium: Introduction and Overview Part I: Political Economy, Society, Politics 2. Lessons from the Polish Transition 3. The Ugly Face of Polish Success: Social Aspects of Transformation 4. How has Polish Society Changed since 1989? Implications for the New Decade 5. Industrial Relations in Poland: From Social Partnership to Enlightened Paternalism? 6. Polish Politics in the New Millennium Part II: Economic Performance, Institutional and Sectoral Transformations 7. Economic Performance 1989–99 and Prospects for the Future 8. Private and Public Sector: New and Old Patterns of Entrepreneurship 9. The New Banking and Financial Sector: Its Role, Potential and Weaknesses 10. Going Beyond Transition: Pension Reform in Poland 11. Decentralisation, Regional Development and Regional Policies 12. Polish Agriculture, Rural Areas and EU Enlargement Part III: International Dimensions of Poland’s Transformation 13. Poland’s Place in the International Economy 14. Poland – European Union: The Economics of Accession 15. Can Polish Politicians Work Together on EU Accession? Index

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Book SynopsisDuring the 1990s over two dozen countries in Europe and Asia underwent a transition from centrally planned to more market-oriented economies. In Constructing a Market Economy, Richard Pomfret reviews their diverse experiences and assesses the outcome of transition in each case. The book includes an extensive review of empirical evidence and, uniquely, aims to cover all the transition economies in a comparative fashion rather than focusing on any particular country.The author discusses the evolving thinking surrounding transition as shaped by experiences, tracing out the shifting emphasis from macro to micro issues and increased concerns about governance and institutions. By placing each transition within its historical context and paying attention to variations across countries and over time, the book draws conclusions about the key elements of a market economy and how they can be achieved.Researchers and academics will warmly welcome this addition to the transition studies literature as will those interested in development studies.Trade Review'In sum, this is an excellent volume. It is highly recommended for anybody looking for an accessible, comprehensive, thoughtful and balanced overview of the record of transition economies, their challenges, and the lessons learnt. Although the primary focus is on this group of economies, there is much of interest on development economics and the political economy of reform more generally.' -- Hal Hill, Economic Analysis and Policy'This book endeavors to get a quart into a pint pot and succeeds admirably. In a scant 133 pages of text, Pomfret recounts the experiences of the countries that spent the 1990s transforming themselves from centrally planned to market economies. He does so with an economy of verbiage and clarity of presentation that makes the volume a pleasure to read. A particular strength of his style is the ability to convey a wealth of information in the lead sentence of almost every paragraph. The quality of the writing enriches the analysis and adds conviction to the author's arguments.' -- Nicholas Hope, Journal of Economic Literature'Constructing a Market Economy represents a significant advance over Richard Pomfret's earlier works on central and south Asian economies, for this work tackles the full historic record of transition . . . this book should be required reading for all those interested in the diverse paths toward a market economy followed by the transition countries.' -- Yelena Kalyuzhnova, Slavic Review'Constructing a Market Economy by Richard Pomfret is a meticulous and scholarly study of recent economic upheavals among the small nations in Europe and Asia during the 1990s. Accessibly presented empirical evidence underlies the broader postulates and conclusions in the insightful analysis, which primarily focuses upon the different types of transition economies, rather than dwelling inordinately upon the economy of any one nation. A serious, thoughtful, college-level account, Constructing a Market Economy is a welcome and significant contribution to academic International Economic Studies reference collections and supplemental reading lists.' -- The Midwest Book Review - Reviewer's BookwatchTable of ContentsContents: Preface 1. Introduction 2. The Soviet Blueprint 3. Elements of Transition 4. Performance 5. Creating a Market Economy 6. Conclusions References Index

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Book SynopsisMarket dominance - encompassing single firm dominance, overt and tacit collusion, mergers and vertical restraints - raises many complex analytical and policy issues, all of which continue to be the subject of theoretical research and policy reform. This second edition of a popular and comprehensive text extends the arguments and combines an analysis of the issues with a discussion of actual policy and case studies.This new edition addresses the recent fundamental changes in antitrust law, especially in the UK and the EU, and reviews some high profile and controversial cases such as the Boeing-McDonnell Douglas merger and the Microsoft monopoly. The author moves on to deal with several unresolved questions including the conflicts between trade and antitrust policy, the foreign take-over of domestic assets and extra-territorial claims made by certain countries.Market Dominance and Antitrust Policy will be of considerable value to students and scholars of economics, law and business, as well as researchers, policymakers and practitioners with an interest in competition policy and international trade.Trade Review'Overall, this volume provides a clear and thorough presentation of the issues and relevant economic theory in a rapidly evolving and important area. Highly recommended.' -- R.A. Miller, ChoiceAcclaim for the first edition: -- 'Whether for an academic or practitioner, lawyer or economist, I know of no single volume on the subject that is more comprehensive and useful than the one Utton has given us.'– C.G. Krouse, International Journal of the Economics of Business'. . . this is a very useful and informative text which provides an integrated account of the main theoretical and practical aspects of antitrust policy. It should be of value to anyone with an interest in this area of economic policy.' -- David Young, The Economic JournalTable of ContentsContents: Prefaces Part I: Analytical and Institutional Background 1. The Economic Analysis of Market Dominance 2. Market Dominance in Practice: Current Perceptions and Trends 3. The Antitrust Response: An Outline of Antitrust Policy in Europe and the United States Part II: Market Dominance: Horizontal Issues 4. The Measurement and Interpretation of Market Dominance 5. Market Conduct of Dominant Firms I 6. Market Conduct of Dominant Firms II 7. Market Dominance and Collusion 8. Horizontal Mergers and Market Dominance Part III: Market Dominance: Vertical Issues 9. Vertical Integration and Vertical Mergers 10. Market Dominance and Vertical Restraints Part IV: Priorities and Prospects for Antitrust 11. Priorities in Antitrust Policy 12. Antitrust Policy in an International Perspective References Index

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Book SynopsisGlobalization and the Small Open Economy investigates the specific role of small open countries in a globalizing economic system and assesses the unique pressures and opportunities afforded them by globalization.Traditionally, in contrast to large countries, small open economies (SOEs) have relied on international economic policy rather than domestic policy as a means to foster national economic development. Their firms also have a far greater reliance on host countries to gain competitive advantage than those of larger nations. This would suggest that globalization has potentially a far greater impact on SOEs than on large countries. The contributors to this volume concur with this view and seek to outline the challenges and opportunities faced by policymakers and managers of multinational enterprises from SOEs. They examine the role of government, environmental policy, inward and outward foreign direct investment and multinational management and conclude that, on balance, globalization provides more of an opportunity than a threat to economic growth in these countries.An innovative collection with fascinating new insights on the present and future role of small, open countries in the global economy, this will be an important new reference source for academics and students, public policy research institutes, international business scholars and trade economists.Trade Review'This is a very detailed volume containing the latest thinking on the implications of globalisation for small open economies.' -- Economic Outlook and Business ReviewTable of ContentsContents: Preface Part I: New Conceptual Perspectives Part II: The Role of Business-Government Linkages Part III: The Role of Inter-Firm Linkages Part IV: The Role of Inward and Outward FDI: The Case of Belgium Part V: Observations on the Challenge of Managing Multiple Markets Index

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Book SynopsisEmploying historical analysis and building on growth theory and modern political economy, Dillon and Wykoff explain Soviet disintegration and analyze efforts to create capitalism in newly independent states. They show how five fundamental economic reforms generate growth, and use an original model to test the connections between reforms, elections and economic performance.The authors examine the progress of six countries (Bulgaria, Czech Republic, Estonia, Hungary, Russia and Slovakia) in terms of each country's history and its successful application of the five reforms. Anyone interested in how capitalism works and why pro-market reforms encounter resistance in spite of their potential for generating higher living standards will find this book essential reading.Trade Review'The book's focus is on select major background forces that influence (either constructively or otherwise) the reform policies being adopted by decision makers at a given phase of an economy's reform path. Empirical verification of the relationship between non economic variables and the implementation of select economic policies and their resulting consequences constitutes a valuable contribution to the fields of economic research. Considering the scope of the authors' research focus, the cogent materials are succinctly presented in a readable fashion that will be accessible to students and scholars in the field of systematic transformation. . . . This volume will be of interest to students and scholars interested in the field of economic restructuring and transitional economics.' -- Raphael Shen, S.J., Slavic Review'This is an excellent analysis of the post-Soviet transition from central planning to a market economy. The book contains an attractive combination of theoretical, institutional and country-specific information. It constitutes a superb source of easily accessible information for advanced undergraduate and graduate students, as well as the general public.' -- - Jan Svejnar, University of Michigan, Ann Arbor, US'The authors show why markets matter, and, yet, why transition is problematic. They ably use theory to guide discussion and make adroit use of data to substantiate their arguments. This book is a must read for anyone interested in the world-wide trend towards democratic capitalism.' -- - M. Ishaq Nadiri, New York University, US'Doing what has to be done - transitioning from communism to capitalism - presents enormous opportunities as well as a Pandora's box of pitfalls. This well-documented and solidly reasoned book by economists Patricia Dillon and Frank Wykoff, presents a compelling synthesis, charting the progress of social transformation in the countries of Eastern Europe and drawing crucial lessons painfully gained.' -- Thomas W. Hazlett, Manhattan Institute, USTable of ContentsContents: Preface Part I: Theoretical Foundations 1. The Withering Away of Communism 2. The Political Economy of Reform 3. Why Private Markets Work 4. Growth Models for Assessing Reforms 5. How Each Reform Promotes Growth 6. Challenges Facing Reformers Part II: Country Chapters 7. Bulgaria: Impatient but Indecisive 8. Are the Czechs Capitalist Superstars? 9. Estonia is Headed West 10. A Taste of Hungarian Goulash 11. Can Russia Make It? 12. Will the Slovaks Stay the Course? 13. The Long and Winding Road Part III: Appendices A. Reforms in Growth Models B. Political Influence, Economic Performance and Reform Efforts: An Econometric Analysis of Six Newly Independent Countries, 1989–1999 Bibliography Index

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Book SynopsisThis authoritative collection brings together the leading contributions to the comparative study of forms of capitalism. An introductory essay presents the context in which these contributions developed, discusses the major issues raised by such comparative work, and suggests likely future developments.Topics include the major theoretical issues involved in analysing different kinds of market economies; the key frameworks for comparing systems of economic organisation, both historically and between societies; the analysis of the distinctive varieties of industrial capitalism that have developed in the Anglo-Saxon countries, Continental Europe and East Asia and studies of globalisation and the connections between types of market economies and varying forms of economic performance, particularly in terms of sectoral development and technical change. The collection will be an indispensable reference source and will improve access to important papers that may not be available in many libraries.Trade Review‘Competing Capitalisms is a superb collection of many of the most important articles of the last decade on the varieties of capitalism across regions of the industrialized world. Analytically informed, it provides the reader with insights into the sources of both stability and change while recognizing that diversity, if not divergence, is likely to continue to characterize contemporary capitalism.' -- Peter Lange, Duke University, USTable of ContentsContents: Volume I Acknowledgements Introduction The Institutional Structuring of Market Economies Richard Whitley PART I THEORETICAL ISSUES AND PERSPECTIVES 1. Gary G. Hamilton and Robert C. Feenstra (1995), ‘Varieties of Hierarchies and Markets: An Introduction’ 2. Mark Granovetter (1985), ‘Economic Action and Social Structure: The Problem of Embeddedness’ 3. J. Rogers Hollingsworth and Robert Boyer (1997), ‘Coordination of Economic Actors and Social Systems of Production’ PART II CONTRASTING FORMS OF CAPITALISM 4. David Soskice (1999), ‘Divergent Production Regimes: Coordinated and Uncoordinated Market Economies in the 1980s and 1990s’ 5. Richard Whitley (1999), ‘The Nature of Business Systems and their Institutional Structuring’ 6. William Lazonick (1991), ‘Institutional Foundations of Industrial Dominance and Decline’ 7. Paul Hirst and Jonathan Zeitlin (1991), ‘Flexible Specialization Versus Post-Fordism: Theory, Evidence and Policy Implications’ PART III NATIONAL AND REGIONAL CAPITALISMS – ANGLO-SAXON 8. J. Rogers Hollingsworth (1991), ‘The Logic of Coordinating American Manufacturing Sectors’ 9. Neil Fligstein (1991), ‘The Structural Transformation of American Industry: An Institutional Account of the Causes of Diversification in the Largest Firms, 1919–1979’ 10. Leslie Hannah (1980), ‘Visible and Invisible Hands in Great Britain’ PART IV NATIONAL AND REGIONAL CAPITALISMS - CONTINENTAL EUROPE 11. Marc Maurice, Arndt Sorge and Malcolm Warner (1980), ‘Societal Differences in Organizing Manufacturing Units: A Comparison of France, West Germany, and Great Britain’ 12. Wolfgang Streeck (1997), ‘German Capitalism: Does it Exist? Can it Survive?’ 13. Gary Herrigel (1993), ‘Large Firms, Small Firms, and the Governance of Flexible Specialization: The Case of Baden Württemberg and Socialized Risk’ 14. Peer Hull Kristensen (1996), ‘On the Constitution of Economic Actors in Denmark: Interacting Skill Containers and Project Coordinators’ 15. Robert Boyer (1997), ‘French Statism at the Crossroads’ 16. Carlo Trigilia (1990), ‘Work and Politics in the Third Italy’s Industrial Districts’ Name Index Volume II Acknowledgements An introduction by the editor to both volumes appears in Volume I PART I NATIONAL AND REGIONAL CAPITALISMS – EAST ASIAN 1. Gary G. Hamilton and Nicole Woolsey Biggart (1988), ‘Market, Culture, and Authority: A Comparative Analysis of Management and Organization in the Far East’ 2. Richard D. Whitley (1991), ‘The Social Construction of Business Systems in East Asia’ 3. D. Eleanor Westney (1996), ‘The Japanese Business System: Key Features and Prospects for Changes’ 4. David L. Wank (1999), ‘Producing Property Rights: Strategies, Networks, and Efficiency in Urban China’s Nonstate Firms’ 5. Linda Y.C. Lim (1996), ‘The Evolution of Southeast Asian Business Systems’ PART II GLOBALIZATION, CHANGE AND PERFORMANCE 6. Robert Boyer (1996), ‘The Convergence Hypothesis Revisited: Globalization but Still the Century of Nations?’ 7. Lane Kenworthy (1997), ‘Globalization and Economic Convergence’ 8. Paul N. Doremus, William W. Keller, Louis W. Pauly and Simon Reich (1998), ‘The Strategic Behavior of MNCs’ 9. Richard Whitley (1998), ‘Internationalization and Varieties of Capitalism: The Limited Effects of Cross-national Coordination of Economic Activities on the Nature of Business Systems’ 10. Arndt Sorge (1991), ‘Strategic Fit and the Societal Effect: Interpreting Cross-National Comparisons of Technology, Organization and Human Resources’ 11. J. Rogers Hollingsworth and Wolfgang Streeck (1994), ‘Countries and Sectors: Concluding Remarks on Performance, Convergence, and Competitiveness’ 12. Steven Casper (2000), ‘Institutional Adaptiveness, Technology Policy, and the Diffusion of New Business Models: The Case of German Biotechnology’ 13. Sigrid Quack and Glenn Morgan (2000), ‘Institutions, Sector Specialisation and Economic Performance Outcomes’ Name Index

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Book SynopsisThis book unites diverse heterodox traditions in the study of endogenous money - which until now have been confined to their own academic quarters - and explores their similarities and differences from both sides of the Atlantic.Bringing together perspectives from post-Keynesians, Circuitists and the Dijon School, the book continues the tradition of Keynes's and Kalecki's analysis of a monetary production economy, emphasising the similarities between the various approaches, and expanding the analytical breadth of the theory of endogenous money. The authors open new avenues for monetary research in order to fuel a renewed interest in the nature and role of money in capitalist economies, which is, the authors argue, one of the most controversial, and therefore fascinating, areas of economics.Providing new theoretical and empirical grounds for the construction of a general, policy oriented theory of money, this thought-provoking collection will appeal to academics, researchers and students interested in monetary economics. It will also be welcomed by monetary policymakers and central bank officials.Trade Review'This is a timely book. Being on modern theories of money - essentially the study of traditions of endogenous money - it is a welcome contribution to current thinking on monetary policy. The modern central bank view on money is that the rate of interest should be manipulated by central banks to achieve an inflation target with the money supply being the "residual". Although money is in effect endogenous, there is no theory that explains its behaviour. Modern Theories of Money is a serious attempt to sharpen existing views on the issue and fill gaps in an admirable manner.' -- Philip Arestis, University of Cambridge, UK and Levy Economics Institute, US'One dimension of Keynes's revolution was his insistence that money and finance must be integrated with real factors right from the start of analysis. This collection fits centrally in this tradition, as well as in the post-Keynesian approach which combines the insights of the classical political economists Marx and Sraffa with those of Keynes, Kalecki, and Pasinetti.' -- G.C. Harcourt, University of New South Wales, Australia'Contemporary orthodox economic theory notoriously lacks a viable theory of money, and hence has no means of understanding the role and significance of this key social institution within capitalism. Fortunately, there are now a number of promising heterodox theories of money that may ultimately succeed in filling the gap. Louis-Philippe Rochon and Sergio Rossi have provided an invaluable service to the economics profession in making available this collection of essays on modern monetary theories, including contributions by many of the most interesting writers in the field.' -- John Smithin, York University, CanadaTable of ContentsContents: Introduction Part I: The Post Keynesian Monetary Approach Part II: The Theory of the Monetary Circuit Part III: The Theory of Money Emissions Part IV: Further Contributions to Monetary Analysis Index

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Book SynopsisConstitutional political economy applies an economic approach to the analysis of constitutional choice. Initially, research clearly leaned towards legitimizing the state and its actions. However, the transitions taking place in Central and Eastern Europe have made apparent the necessity to improve our knowledge of the working properties of alternative constitutional rules, thus stressing the importance of positive analysis. The authors analyse both the opportunities and dangers of importing constitutions from around the world into this area.The papers assembled in this volume deal with the question of what individual transition processes have taught us in terms of constitution-building. The book contains analyses of post 1989 constitutional developments in the countries of Central and Eastern Europe from the perspectives of varied disciplines; including academics, politicians and the judiciary.Constitutions, Markets and Law will be welcomed by scholars of transition studies and political economists as well as practitioners of, and academics with an interest in, constitutional law.Trade Review'Studies such as these, which allow a better understanding of the relationship between law and economics deserve to be widely welcomed.' -- The Commonwealth LawyerTable of ContentsContents: Preface Introduction 1. What Belongs in a Constitution? 2. Comment by Horst Hegmann 3. On the Relationship Between State and Economy in Transformation 4. Comment by Mark Oelmann 5. The Demand for Constitutional Law 6. Comment by Ivan Baron Adamovich 7. Some Remarks on the Separation of Powers in the Polish Constitution 8. Invisible Contexts, Invisible Constraints. The Limits of the Normative Explanation of Constitutional Change 9. Market-making as State-making. Constitutions and Economic Development in Post-communist Eastern Europe 10. Comment by Claus Offe 11. Are ‘Western’ Constitutions Relevant to Anything Other than the Countries they Serve? 12. Comment by Stephan Panther 13. On Implicit Constitutional Change 14. Comment by Frank Bönker 15. On the Delegation of Powers – with Special Emphasis on Central and Eastern Europe 16. Comment by Gerard C. Rowe 17. Constitutionalism Beyond the Nation State 18. Comment by Anne van Aaken 19. Constitutions in Transition Index

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Book SynopsisThis distinguished collection of Dennis Mueller's papers discusses the economic challenges faced as a result of events in the latter third of the twentieth century; the formation of the European Union, the collapse of Communism in East Europe, and the deregulation and privatization movement that spread from North America to Europe and then across the rest of the world. The book explores the design of political institutions and the functioning of economies, and goes on to prescribe the types of fiscal and competition policies that are required as we enter the twenty-first century, posing questions such as: What should a new democracy's constitution comprise? Should the European Union be organized as a federal system? What should a global competition policy consist of? Academics specializing in public choice theory, political economy, and industrial organization will warmly welcome this outstanding volume, as will those with an interest in globalization and the European Union.Trade Review'Mueller is, of course, a prominent public choice scholar, indeed he is a past president of the Public Choice Society. He is also, however, an expert on antitrust law and its economic implications. Both of these areas are covered in the book and in both areas he makes a significant contribution. Some of these articles have been published before, but sometimes in major journals and sometimes in highly specialized journals. In my case, I had read the articles in the main journals before but they well repaid rereading. The articles published in the specialized journals were new to me as were of course the articles which had never been published before. Altogether, it is a major contribution to both public choice and antitrust economics. Living as he does in Europe but with a strong American background, professor Mueller is particularly interested in the current expansion of the Common Market. His ability to apply both the economics of antitrust and the economics of public choice to this area, means that his contribution is significant. I can honestly recommend the book to not only people in those two fields, but to the general scholar who is interested in developments in Europe in general. I learned a good deal from reading it and I'm sure that other readers will do the same.' -- Gordon Tullock, George Mason University, US'Dennis Mueller has a profound understanding of the rules by which the market and the government are organized. An American by education and a European by choice, he is especially qualified to evaluate the proposed EU constitution. Anyone who has an opportunity to advise or comment on this proposed constitution would increase the prospects for a more perfect European Union by understanding the Mueller articles on constitutional processes in this volume.' -- William Niskanen, The Cato Institute, US'Dennis Mueller's Capitalism and Democracy is an outstanding addition to Elgar's Economists of the Twentieth Century series. Over a distinguished and remarkably productive scholarly career, Professor Mueller has made major contributions to the literatures of industrial organization, public choice and constitutional economics. Collected herein is a vital sample of his recent work, comprising journal articles and book chapters published since 1996, along with two previously unpublished papers, in which Mueller brings his deep learning and analytical talents to bear on some of the critical challenges confronted by political and economic institutions in an increasingly interdependent new world order. Ranging widely across the United States, Asia and Europe, Mueller explores, in rational-choice perspective, how the relationships between the individual and the state are now being shaped, for good or ill, by national and international responses to the opportunities opened by the collapse of communism and to the limits imposed by emergent global integration, paying special attention to the implications of these events for centralized versus federal government structures, tax policy and competition policy. Capitalism and Democracy is a capstone volume of enormous value to economists, political scientists and, not least, the members of the body engaged in writing a new constitution for the European Union.' -- William F. Shughart II, University of Mississippi, US'In this collection of papers, a noted public choice scholar applies his insights and wisdom to the important changes in political and economic organization that have taken place across the world over the last third of the twentieth century. I know of no better source of intelligent discussion of these issues and their implications for the future. Dennis Mueller has done us all a favor by putting this work under one cover.' -- Robert D. Tollison, Clemson University, USTable of ContentsContents: Introduction Part I: Challenges Part II: Constitutional Processes Part III: Tax and Subsidy Responses Part IV: Competition Policy Responses Index

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Book SynopsisAfter the 1997 Asian crisis, most Asian countries embarked on a serious process of reform to revitalise their economies. This highly topical book begins with a thorough analysis of the reforms proposed and implemented in China, South Korea, Japan, Thailand and Malaysia. This analysis focuses on financial and corporate sector reforms and on the changing role of public administrations. The authors argue that the chain effects of the Asian crisis are not only confined to a regional economic context: the evolution of the role of regional associations and of the security scenario in East Asia outlines the beginning of a deep and comprehensive political, economic and social change.Leading scholars with in-depth knowledge of each country focus on these international variables, in particular; the role of APEC in the wake of the Asian crisis and the Seattle debacle, the process of economic integration in East Asia and the evolution in East Asian regional security.As a multidisciplinary work, Reforming Economic Systems in Asia will be warmly received by researchers and academics of Asian studies, political science and political economy. Anyone involved in international business and in designing strategies for international enterprises will also find this book of special interest.Trade Review'I would recommend this book as a very useful introduction to: contemporary reforms being implemented across the region in the wake of the traumatic financial and economic crisis of 1997/98.' -- Charles Harvie, The Journal of the Korean EconomyTable of ContentsContents: 1. China: Old and New Challenges 2. Structural Reforms in Japan: The Attempt to Transform the Country’s Economic System 3. Something New, Something Old: The South Korean Economy after the Financial Crisis 4. Economic and Policy Convergence in ASEAN: Malaysia and Thailand Compared 5. New Impulses Towards Economic Integration in East Asia: Prospects and Issues 6. APEC and Trade Liberalisation after Seattle: Transregionalism without a Cause? 7. Shifts in East Asia Regional Security: Old Issues and New Events Amidst Multilateral-Bilateral Tensions 8. Conclusion Index

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Book SynopsisThis book acts as a welcome foil to current thinking on the concept of globalisation, which tends to be divided into two distinct camps: one which suggests that the neo-liberal model has triumphed and has no realistic alternative, and another which argues that globalisation, in its most extreme form, does not really exist, rather having evolved gradually from the very beginnings of industrialisation. Bob Milward presents an alternative view of globalisation and argues that indeed there has been a continuum in capitalist development, but that this has been forged by historical processes and the dynamism of the competitive forces of capitalism. He identifies the emergence of monopoly capitalism as an important shaping factor, and in so doing sheds light on issues of underdevelopment, multinational imperialism and crises in advanced capitalist economies.This radical, multidisciplinary account of the condition of the global economy, encompassing a critique of the neo-liberal foundations of orthodox global analysis, will appeal to an extensive audience. Students, researchers and academics in the fields of economics, heterodox economics, economic geography, politics, sociology, development studies, international relations and public policy will find Globalisation? Internationalisation and Monopoly Capitalism to be an engaging read.Trade Review'There is no doubt that Bob Milward has written a book which is intrinsically interesting, has a clear message, and is a useful contribution in a debate often muddied with hyperbole. . . . it deserves a wide readership from those. . . interested in making sense of persistent economic imbalances in twenty-first century capitalism.' -- Paul Benneworth, EH.Net'It [the book] offers a well-balanced, well-researched analysis of the present globalism from an appropriately broad-based position, both in breadth of analysis and appropriate focus, and provides a very telling account of the inadequacies of the neo-classical position.' -- Keith Cowling, University of Warwick, UKTable of ContentsContents: 1. Introduction 2. Globalisation? 3. Internationalisation 4. Monopoly Capitalism 5. Global Finance 6. Industry 7. Culture 8. Labour 9. Welfare States 10. Trade 11. Development and Underdevelopment 12. Regulation 13. Regionalisation 14. Concluding Remarks Bibliography Index

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Book SynopsisKorea has experienced one of the most profound economic transformations of any nation in history, and remains a very important focus of academic inquiry. Whilst the process of catch-up in Korea - led by export-oriented growth - has been rapid and, in a sense, very successful, it has also been subject to turbulence, not least in a crisis of near bankruptcy that has dramatically revealed its Achilles heel. Informed by the 1997 crisis, Wontack Hong writes a new history of the Korean economy; one that seeks to understand export-oriented catch-up in newly industrialized countries (NICs) whilst offering a realistic appraisal and forewarning of the pitfalls which could signal self-destruction.Catch-up and Crisis in Korea offers a balanced perspective on the Korean economy, and on newly industrialized countries in general, for those who have a serious interest in understanding the industrialization process.Table of ContentsContents: Preface 1. Introduction: Catch-Up 2. Export-Oriented Growth: Positive Aspects 3. Institutionalizing an Export-Oriented Regime 4. Trade Pattern in the Early Phase of Catch-Up 5. The Engine of Catch-Up: Big Conglomerates 6. Growth and Equity 7. Experiences of East Asian NICs 8. The Legacy of Korea’s Credit Rationing System 9. The Political Economy of the Korean Model Appendix 1: Major Statistical Indicators: Korea Appendix 1: Major Statistical Indicators: Taiwan Bibliography Index

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Book SynopsisIt is through a gradual evolution, rather than by grand design, that the somewhat fragmented economic policies of the EU now appear to be heading towards a rather more robust and coherent economic governance. EU Economic Governance and Globalization considers the following crucial question as the EU enters its final stage of institution-building; will the economic institutions of the EU push ahead to reform its rigid national economies and open them up to globalization and international competition?Focusing on telecommunications, air transportation, currency competition, taxation, eastern enlargement and transatlantic relations, the contributors to this book question whether EU standards, regulatory regimes, and policies are flexible enough to bring about a dynamic and open economy.This book will be of interest to scholars of European and regional studies and international political economy, as well as policy analysts and policymakers.Table of ContentsContents: Introduction 1. EU Enlargement and Flexible Integration 2. EU Governance under Duress? Tax Policy Coordination under Globalization 3. Competition versus Competitiveness in the European Single Aviation Market 4. The Governance of Telecommunications in the European Union 5. The New Framework of Transatlantic Economic Governance: Strategic Trade Management and Regulatory Conflict in a Multilateral Global Economy 6. Does the Monetary Dialogue with the European Parliament Influence the European Central Bank? 7. Euro Weakness and the ECB Economic Governance: A Strategic Institutionalist Perspective Index

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Book SynopsisAlliance Capitalism for the New American Economy advocates engagement with the USA's macromanagement problems in a spirit of alliance capitalism, for the development of a more integrated, dynamic economy. Whereas most studies of the USA emphasise the efficiency effects of intense competition between firms, this book stresses that as the new economy becomes more knowledge based, its development necessitates active intercorporate cooperation, especially in high technology sectors.The book focuses on problems of balance between competition and cooperation in the relations between American firms, as well as in political competition and cooperation for the management of US economic policy. Public concern over the dynamics of the US political economy has increased since the dramatic disclosures during 2002 of high-risk speculation and fraud by major American enterprises. The authors argue that these problems reflect fierce competition, insufficiently restrained by monitoring and regulation. Imperatives for the development of a more cooperative, collegial style of capitalism are stressed. The authors also highlight the importance of technocratic contributions to the development of corporate alliances and address the increasing significance of working skill levels.This volume will provide valuable reading and reference material for all students, academics and researchers of business and competition policy. Corporate managers and government agencies involved in technology, trade, financial regulation and infrastructure development will also gain practical insights into the benefits of a more cooperative model of capitalism.Table of ContentsContents: Foreword 1. The American Political Economy 2. Problems of Governance in the USA 3. American Structural and Policy Interdependencies 4. US Structural Change: Macroeconomic Policy Issues 5. The US Financial Sector: Regulatory Issues 6. The US Policy Mix and Corporate Strategies 7. US Firms in World Finance 8. American Alliance Capitalism: Flagship-led Clusters 9. The US Current Account: Issues and Implications 10. Globalization and Economic Integration: Implications for Microeconomic Policy in the USA and Europe 11. Long-range Planning Index

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Book SynopsisRussian Banking considers the rise of commercial market-oriented banks in Russia, their links with government and non-financial companies and their role as intermediaries in the provision of finance for investment.The contributors explore the legacy of the Soviet past and current functions of the Russian banking system, contrasting these with those in other post-communist societies and describing peculiarities such as informal networks and corruption. The book also discusses the economic and global aspects of Russia's reform, focusing on financial crises, foreign depositors to Russian banks and the implications for Russian foreign debt.This up-to-date and comprehensive account of commercial banking in modern Russia will appeal to those concerned with the economics of transition or comparative banking. Political scientists and sociologists with an interest in forms of capitalism and the roles of banks will also find the book to be a fascinating read.Trade Review'. . . required reading for all who are seriously interested in the modern Russian economy.' -- Pekka Sutela, Slavic ReviewTable of ContentsContents Introduction David Lane PART I ISSUES IN BANKING 1 The evolution of post-communist banking David Lane 2 Bank sector restructuring Satoshi Mizobata 3 The present and future of banking reform William Tompson 4 The view from the ground: case studies of three major banks (Sberbank, Uneximbank/Rosbank, Bank of Moscow) David Lane and Irene Lavrentieva PART II GOVERNANCE ISSUES 5 Banks and illegal activities Heiko Pleines 6 Banks and the loans-for-shares auctions Duncan Allan 7 Comparisons with east-central Europe Martin Myant PART III ECONOMIC AND GLOBAL ASPECTS 8 Predicting Russia’s currency and financial crises Sheila A. Chapman and Marcella Mulino 9 The political economy of banking reform and foreign debt Claudia M. Buch, Ralph P. Heinrich, Lusine Lusinyan and Mechthild Schrooten 10 Russian banks and foreign investments Julia A. Solovieva 11 Progress towards financial stability Brigitte Granville Index

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Book SynopsisPublic-private collaboration in infrastructure projects takes place in a variety of institutional frameworks worldwide. This volume considers the different cultural, political and legal settings in the US, UK, Japan and other countries and regions where policymakers are reconsidering traditional mechanisms for raising and deploying capital. By focusing on concrete examples in specific countries, the editors and contributors draw useful lessons for strong sector performance in telecommunications, power, water and social infrastructure. Innovative strategies that work can be modified and refined in other sectors and other countries. Going beyond ideological debate, this volume presents a pragmatic approach to best practice, one that combines market-oriented solutions with governmental oversight according to the specific cultural and institutional situations.Regulators, academics, policymakers, politicians, and students in public policy, finance and economics will find this volume practical and original.Trade Review'This book provides a useful overview of international developments in this important area of public policy. The breadth of international coverage is an important strength.' -- John Quiggin, Australian Journal of Public AdministrationTable of ContentsContents: Introduction Part I: Japan: Public–Private Partnerships in Transition 1. Infrastructure Building in the Japanese Telecommunications Sector: From Public–Public to Public–Private Partnership 2. The Third Sector's Failure in Japan 3. Regulatory Reform of the Electricity Industry in Japan: An Overview of the Process Part II: UK and India: Declining Role of the State 4. The Declining Role of the State in Infrastructure Investments in the UK 5. Private Initiatives in the England and Wales Electricity Industry 6. Private Financing Initiatives in India's Telecommunications Sector 7. Private Financing Initiatives in India's Electricity Sector Part III: US and Emerging Markets: Stakeholders and the Status Quo 8. Public Power: Perspectives in Electricity Restructuring 9. Domestic and International Environmental Issues in Restructuring Electric Industries 10. Infrastructure Management: Applications to Latin America 11. Institutions and Telecommunications Performances in Africa: Stability, Governance, and Incentives Conclusion Index

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Book SynopsisThe Open Economy and its Financial Constraints explores the role of money and finance in an open economy. The existence of money and global financial flows compound the likelihood of financial constraints, in particular, financial vulnerability, financial exclusion and financial fragility, and create the possibility of unemployment. Penelope Hawkins focuses on financial openness and contends that while vulnerable economies can benefit from long-term international capital, greater financial exposure makes them increasingly susceptible to the crises associated with financial withdrawals. The author explores in detail the experiences of South Africa, Brazil and Thailand and finds that the consequences of financial liberalisation remain uncertain. She examines the rationale behind the distribution of credit within and between countries, and goes on to construct a financial vulnerability index as an empirical mechanism to rank nations according to their vulnerability to the withdrawal of international financial flows. This book offers an innovative conceptual approach to constraints in economic theory which will appeal to students and scholars of financial economics, particularly those who embrace non-orthodox monetary theory. It will also prove an enlightening read for development economists who can draw important lessons from the book's examination of the consequences of financial liberalisation.Trade Review'This book is very insightful and informative.' -- Tae-Hee Jo, Oeconomicus'This book is an important contribution to how we understand economic openness. Penelope Hawkins focuses our attention on how financial vulnerability has real consequences for economies in the international arena as well as for sub-national economies. The detailed conceptual and theoretical treatment of financial vulnerability is enhanced by the construction of an index for measuring vulnerability, and by a series of case studies.' -- Sheila C. Dow, University of Stirling, UK'Economists are used to thinking of constraints on expenditure or activity in developing economies as both "real" and well defined and binding. Penelope Hawkins takes a hard look at financial constraints on the small open economy. She portrays these constraints not only as fuzzy in outline but also liable to sudden shifts, often becoming binding at the worst possible time. Despite their ambiguity she finds ingenious ways to measure and analyse them. Her book is a valuable contribution to the comparatively new concern with the role of finance in economic development.' -- Victoria Chick, University College London, UKTable of ContentsContents: Introduction 1. Constraints and Economic Theory 2. Money, Liquidity Preference and Banks 3. Banks’ Liquidity Preference and Financial States of Constraint 4. Liquidity Preference and Capital Flows in an Open Economy 5. Financial Vulnerability and the Open Economy 6. Three Vulnerable Economies: Thailand, Brazil and South Africa 7. Financial Constraints on Economic Activity and Employment in South Africa 8. International Liquidity Preference and Vulnerable Economies 9. Conclusion Bibliography Index

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Book SynopsisThe establishment of the Shanghai Stock Exchange in December 1990 was a landmark in China's institutional transformation. With this in mind, the authors consider the factors relating to institutional change - such as changes in the financial system, the scale and structure of stock market, operational efficiency and the regulatory system of the stock market. During the course of its development the Chinese stock market has experienced speculation, dramatic fluctuations and violations of market regulations of frequent and diverse natures. There is therefore, urgent need for the discussion contained within this volume of best procedure policies for the establishment of a properly ordered and regulated market.The authors assess the operational performance of listed companies, and changes in the external environment such as the impact of China's accession to the WTO on the stock market. The authors find that WTO accession will have a more serious impact on the more heavily protected agricultural sector and on capital-intensive industries such as automobile, instruments, cotton and wheat to name a few. They argue that the fundamental reason for the inefficiency of China's stock market is the weakness of the competitive mechanism leading to imperfect competition and rent-seeking activity. This book will be of great interest to academics and researchers of Asian studies and money and finance. Multinational enterprise managers, as well as brokers, dealers, business economists and others involved in the global financial markets will also find this book of value.Trade Review'Chen and Shih provide the reader with an excellent introduction to, and powerful analysis of, this new market.' -- Yinggang Zhou, Comparative Sociology'The book The Evolution of the Stock Market in China's Transitional Economy by Chien-Hsun Chen and Hui-Tzu Shih offers valuable insights into the evolution and development of the Chinese stock market. The book was written with an important mission in mind - how to develop an efficient financial system that facilitates innovation and spontaneous evolution of the society.' -- Guojun Wu, Journal of Asian Business'Chien-Hsun Chen and Hui-Tzu Shih have produced an informative and insightful study of China's stock market development. In The Evolution of the Stock Market in China's Transitional Economy, the reader will find a straightforward account of the development of China's stock markets that further clarifies the role China's capital markets will play in the country's financial future.' -- Mark T. Fung, The China Business ReviewTable of ContentsContents: Preface 1. Institutional Change and the Stock Market 2. The Scale and Structure of China’s Stock Market 3. Operational Efficiency and Regulatory System of the Chinese Stock Market 4. Operational Performance of Listed Companies 5. The Impact of China’s WTO Accession on the Stock Market 6. Future Trends in the Evolution of China’s Stock Market References Index

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Book SynopsisEmerging markets have long posed a challenge for finance. Standard models are often ill suited to deal with the specific circumstances arising in these markets. However, the interest in emerging markets has provided impetus for the adaptation of current models to new circumstances and the development of new models. During recent years, much new research has been devoted to emerging markets. This important collection presents key articles in this literature. Topics include: the properties of emerging market equity returns; diversification benefits; market integration and segmentation of emerging markets; the financial and real effects of the financial liberalization process that many countries embarked upon; the late nineties crises and the debate regarding contagion; and microstructure in emerging markets. The collection will be of interest to academics in international finance, international economics and development economics and to practitioners and policymakers alike.Table of ContentsContents: Acknowledgements Foreword Richard Roll Introduction Geert Bekaert and Campbell R. Harvey (2003), ‘Emerging Markets Finance’ PART I MARKET INTEGRATION AND LIBERALIZATION A Theoretical Effects of Market Integration 1. René M. Stulz (1981), ‘On the Effects of Barriers to International Investment’ 2. Vihang Errunza and Etienne Losq (1985), ‘International Asset Pricing under Mild Segmentation: Theory and Test’ B Measuring Market Integration 3. Geert Bekaert (1995), ‘Market Integration and Investment Barriers in Emerging Equity Markets’ 4. Campbell R. Harvey (1995), ‘Predictable Risk and Returns in Emerging Markets’ 5. Geert Bekaert and Campbell R. Harvey (1995), ‘Time-Varying World Market Integration’ PART II FINANCIAL EFFECTS OF MARKET INTEGRATION A Liberalization and Returns 6. Geert Bekaert and Campbell R. Harvey (2000), ‘Foreign Speculators and Emerging Equity Markets’ 7. Peter Blair Henry (2000), ‘Stock Market Liberalization, Economic Reform, and Emerging Market Equity Prices’ 8. E. Han Kim and Vijay Singal (2000), ‘Stock Market Openings: Experience of Emerging Economies’ 9. William N. Goetzmann and Philippe Jorion (1999), ‘Re-Emerging Markets’ 10. Stephen R. Foerster and G. Andrew Karolyi (1999), ‘The Effects of Market Segmentation and Investor Recognition on Asset Prices: Evidence from Foreign Stocks Listing in the United States’ B Liberalization and Political Risk 11. Enrico C. Perotti and Pieter van Oijen (2001), ‘Privatization, Political Risk and Stock Market Development in Emerging Economies’ C Liberalization and Capital Flows 12. René M. Stulz (1999), ‘International Portfolio Flows and Security Markets’ D Liberalization and Diversification Benefits 13. Frans A. De Roon, Theo E. Nijman and Bas J.M. Werker (2001), ‘Testing for Mean-Variance Spanning with Short Sales Constraints and Transaction Costs: The Case of Emerging Markets’ PART III REAL EFFECTS OF FINANCIAL MARKET INTEGRATION A Why Would Financial Liberalization Affect Economic Growth? 14. Maurice Obstfeld (1994), ‘Risk-Taking, Global Diversification, and Growth’ B Measuring the Liberalization Effect on Economic Growth 15. Geert Bekaert, Campbell R. Harvey and Christian Lundblad (2001), ‘Emerging Equity Markets and Economic Development’ C The Channels of Growth 16. Thorsten Beck, Ross Levine and Norman Loayza (2000), ‘Finance and the Sources of Growth’ D Income Distribution 17. Mitali Das and Sanket Mohapatra (2003), ‘Income Inequality: The Aftermath of Stock Market Liberalization in Emerging Markets’ PART IV CONTAGION 18. Graciela L. Kaminsky and Carmen M. Reinhart (2000), ‘On Crises, Contagion, and Confusion’ PART V OTHER ISSUES A Corporate Finance 19. Raghuram G. Rajan and Luigi Zingales (1998), ‘Financial Dependence and Growth’ B Microstructure of Equity Markets 20. Ian Domowitz, Jack Glen and Ananth Madhavan (1998), ‘International Cross-Listing and Order Flow Migration: Evidence from an Emerging Market’ C Stock Selection of Equity Markets 21. K. Geert Rouwenhorst (1999), ‘Local Return Factors and Turnover in Emerging Stock Markets’ Name Index

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Book SynopsisThis book uses household survey data from five Central Asian countries to analyse the important consequences of, and elements that constitute, the creation of a market economy. The countries studied - Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan and Uzbekistan - had taken minimal action towards creating a market economy before the dissolution of the USSR in late 1991. From similar initial conditions they have pursued different post-independence economic strategies, making them ideal candidates for comparative analysis.The pivotal question concerns the determination of living standards. Who gained and who lost from the transition to a market economy? Which characteristics are rewarded in a new market economy? How do national policies and other systematic factors affect these outcomes? The authors also address other important issues that have emerged during transition debates: the position of women and the role of small businesses. The book analyses the gender issue in the narrow, but significant, sense of what happened to women in the labour market and the authors also analyze the characteristics of households with non-farm businesses.This book will prove invaluable to academics and researchers of Asian studies and particularly those with an interest in economic development and labour economics within the region.Trade Review'Little work has been done, outside of organizations such as the International Labor Organization and the UNDP, to show the internal dynamics of reform. Western economists generally do not often delve into households and firms to see how these changes are impacting individuals at ground zero. Pomfret and Anderson do so. In these regards, this book breaks new ground.' -- Sharon Eicher, Central Eurasian Studies Review'A revealing, insightful text, highly recommended.' -- The Economics Shelf, Library Bookwatch'Anderson and Pomfret have done an excellent job showing that a great deal can be learned about Central Asia's economies from thoughtful analysis of existing micro data sets. They are not the only researchers to have used these data sets, but surely have set the standard for the application of careful, state-of-the-art econometric research to a wide range of poverty, labour market, and small business issues throughout the region. Indeed, few if any other researchers enjoy both experience in and understanding of the region as well as grounding in modern labour economics and econometrics. The result is a cornucopia of findings. The rising importance of tertiary education as the transition progresses; the declining advantages of Slavic ethnicity; the economic advantages of living in capital cities, and establishing small businesses there; the diminishing rather than growing gender gaps; and the presence of high taxes, predatory governments, and low demand rather than credit constraints as the key deterrents to small business development - these are but a few of the book's profound conclusions. These results and others will help inform policymakers and guide theoreticians, and significantly improve Central Asian and other economists' understanding of the region.' -- Charles M. Becker, University of Colorado, Denver, US'I found the book provided a fascinating insight into the changes in living standards and material welfare in Central Asia that have occurred in the decade since independence. The book is a valuable addition to the literature on poverty and household welfare in Central Asia, representing the first attempt to make consistent cross-national comparisons. It will be a compulsory reader for all those interested in poverty and welfare within the region, including academics and policy makers both nationally and from the international donor and NGO community.' -- Jane Falkingham, University of Southampton and London School of Economics, UKTable of ContentsContents: Preface 1. Introduction 2. The Central Asian Economies Before and After Independence 3. Economic Performance since Independence: Output, Distribution, and Poverty 4. Living Standards in the Kyrgyz Republic 5. Cross-country Comparisons of the Determinants of Living Standards 6. Women in the Labour Market in the Kyrgyz Republic 1993 and 1997 7. Household Non-farm Business Formation in the Kyrgyz Republic 1993–7 8. Conclusions Appendix: The LSMS Data References Index

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Book SynopsisExploring the Tomato engages with an apparently simple fruit in order to reveal major changes to society and economy. It treats the tomato as an object of fascination and as a probe into major historical changes in twentieth century capitalism.From first domestication to genetic modification, from Aztec salsa to supermarket pizza, the tomato has been continually transformed in the ways it has been produced, exchanged and consumed. This book explores what brings about a variety that is at once biological, historical and socio-economic. A conceptual framework of 'instituted economic process' demonstrates how different tomato forms are an expression of dynamic processes in capitalist economies and societies during the twentieth century. As both an early pioneer in mass production and a contemporary contributor to the creation of global cuisines, the tomato has been subject to intense innovation. Computerised total ecologies under glass, producing fresh tomatoes of all shapes, colours and sizes, compete with sun and southern climates across the world. To enter the variety of tomato worlds is to discover the variety of capitalism.Written in an accessible style, this book makes a major contribution to the emerging field of economic sociology and to our understanding of the innovation process. It should be read by anyone concerned with social science, particularly economists and sociologists, as well as those interested in food and the history of food.Trade Review'. . . this volume is a fascinating interdisciplinary study, and well worth reading.' -- Long Range Planning'Exploring the Tomato is a fascinating and stimulating read,interweaving human stories provided by avowedly economic agents within an explicitly relational analytical framework.' -- Tony Gore, Economic Issues'The authors of this book claim that the tomato's history mirrors a fundamental shift in how we produce, process, market, and consume our food. To make the case, they combine historical research with organizational analysis, case studies, and interviews with growers, seed producers, warehouse operatives, food processors, and store managers. The results are impressive.' -- James J. Lang, Technology and Culture'Exploring the Tomato is a wonderful study of contemporary capitalism, as mirrored through the tomato. The authors explore social, economic, historical and biological aspects of the tomato in what deserves to become a minor classic. Read it and enjoy!' -- Richard Swedberg, Cornell University, USTable of ContentsContents: 1. The Human Tomato Part I: From Domestication to Genetic Modification 2. From Nature into Culture and Economy 3. Broken Glass 4. The Round European Tomato 5. The Fabrication of Nature 6. The Rise and Fall of the Genetically Modified Tomato Part II: Twentieth-Century Tomato Configurations 7. Tomato: A Pioneer of Mass Production 8. The Battle of Tomato Identities: The Rise of Supermarket Own-Label 9. Growing New Routes 10. Supermarket Tomato 11. Tomato Variations or Plus C’est la Même Chose, Plus ça Change Bibliography Appendix: List of Interviews Index

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Book SynopsisThis book offers a detailed, critical account of the economic transformation of the Czech Republic since 1989. It follows the development and implementation of a reform strategy based on 'shock' therapy and rapid privatisation, set against the background of turbulent political change and conflict. The aim of the government in the mid 1990s was the creation of a 'Czech' capitalism, with Czech-owned business empires and banks. A detailed analysis of developments in banking and industrial enterprises shows how the chosen strategy led instead to continuing inefficiency, flawed management decisions and uncontrolled profiteering. These combined factors contributed to serious economic difficulties in the latter part of the decade, with success stories largely confined to foreign-owned firms. After 1998, a new government attempted to encourage economic revival based upon a fresh strategy which emphasised the sale of banks and industrial enterprises to foreign owners. Even with this new reform strategy, the author concludes that the results were, at best, mixed. Throughout the analysis, the author provides in-depth commentary on a variety of topics including the sources of economic growth, the role of the central bank, developments in banking and industrial enterprises and the impact of inward direct investment.It is rare to find such a comprehensive book which assesses the economic transformations of a single country. The detailed analysis and pertinent conclusions will be welcomed by academics and researchers with an interest in transition economies, European integration, international finance and political science.Trade Review'No other book tells the Czech story so closely and impressively. Myant uses rich sources of information, the original among them being commentaries on individual events by economic journalists and insiders.' -- Jiri Vecernik, Slavic ReviewTable of ContentsContents: 1. Introduction 2. Towards Economic Reform 3. The Transformation Depression 4. The Golden Age and After 5. Money and the Central Bank 6. Politicians and the Central Bank 7. Voucher Privatisation and After 8. Banks and the Czech Road 9. Transforming Industrial Enterprises 10. Government and Industry 11. Skoda–Plzen 12. Chemicals – A Failure for Privatisation 13. Inward Investment and Competitiveness 14. Conclusion References Index

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Book SynopsisSingapore, South Korea and Taiwan - East Asia's newly industrialised economies (the NIE-3) - experienced a profound development transformation over recent decades. Christopher Dent makes a comparative study of their foreign economic policies, highlighting how the NIE-3 have engaged with the international economic system in an increasingly dynamic way. The book develops a new macro-framework of foreign economic policy analysis that provides the structure for this study. The author argues that the 'development context' of the NIE-3's foreign economic policies is grounded in their common development statism and semi-peripheralisation. He further contends that it is the pursuit of economic security that primarily motivates their respective foreign economic policies.This new conceptualisation of economic security in the context of foreign economic policy will appeal to academics, researchers and students in wide range of disciplines including: Asian studies, international relations, international political economy, economics and politics.Table of ContentsContents: Preface 1. Foreign Economic Policy: A New Macro-Analytical Framework 2. The Development Context: Developmental Statism and Semi-Peripheralization in Perspective 3. Singapore: The FEP of a Global City-State 4. South Korea: The FEP of a Deconstructing Developmental State 5. Taiwan: The FEP of a Contested State 6. Conclusion: A Comparative Summary References Index

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