Economic systems and structures Books

Book SynopsisWith the radical growth in the ubiquity of digital platforms, the sharing economy is here to stay. This Handbook explores the nature and direction of the sharing economy, interrogating its key dynamics and evolution over the past decade and critiquing its effect on society. Using an interdisciplinary perspective, this Handbook analyses labour, governance, trust and consumption in the contemporary sharing economy. It questions the apparent contradiction between its components: the moral economy of small-scale communal sharing versus the far-flung reaches of the market economy. Chapters explore ways to resolve this paradox, theorizing hybrid economic forms and considering the replacement of human trust inherent in the sharing economy with a transactional reputation economy. Featuring a variety of both conceptual explorations and empirical investigations in a variety of different cross-cultural contexts, this Handbook illustrates how and, more importantly, why the sharing economy has reshaped marketplaces, and will continue to disrupt them as it develops. Written in an accessible style, this thorough Handbook offers crucial insights for researchers across a variety of disciplines interested in the trajectories of modern consumption, as well as students studying the sharing economy. Practitioners, policy makers and public speakers working in and around the sharing economy will also benefit from this book's unique analysis of trends in consumer economics. Contributors include: A. Arvidsson, G. Avram, F. Bardhi, H. Bartling, M. Baz Radwan, R. Belk, H.H. Chang, A. Chattopadhyay, R. Corten, D. Dalli, A. DeCrop, N. Drozdova, G. Eckhardt, T. Eriksson, E. Fischer, F. Fortezza, A. Gandini, A. Gessinger, A. Graul, A. Gruen, A.J. Hawley, I. Kleppe, S. Kurtmollaiev, M. Laamanen, C. Laurell, C.X. Li, A. Light, R.J. Lutz, J. Mallargé, K. Mikolajewska-Zaj c, L. Mimoun, M. Möhlmann, O. Mont, J. Morales, A. Mukherjee, C. Oberg, L.K. Ozanne, E. Papaoikonomou, G. Patsiaouras, C. Pitt, K. Plangger, M. Rocas-Royo, A. Ryan, C. Sandstrom, M. Saren, K. Strzyczkowski, W. Suetzl, T. Teubner, C. Valor, P. van den Bussche, G. von Richthofen, Y. Voytenko Palgen, S. Wahlen, T. Widlok, P. Zidda, L. Zvolska Trade Review'This Handbook offers wide-ranging investigations and essays into the sharing economy. It takes the reader through a deep and critical look at this new way of organizing markets and society. While exposing the promise, practices, and paradoxes of these systems, the authors succeed in inspiring us to think how these platforms are changing how we consume, sell, and think about and care for the world. It offers fresh insights that I expect to influence my research and teaching in important ways for a long time.' --Christine Moorman, Duke University, US and Editor in Chief, Journal of Marketing'The sharing economy is fundamentally altering firms and markets, yet key questions about the future of the economy and society remain unanswered. Belk, Eckhardt and Bardhi provide a sweeping view of emerging thinking, spanning topics from blockchain and big data to rhetoric and risk. A must-read for any serious scholar.' --Arun Sundararajan, New York University, US and author of The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism'This is a must-read collection for anyone seeking a deeper appreciation of the sharing economy and why and how it works. Twenty-eight chapters explore the paradoxes between the moral economy of ''sharing'' the market economy of ''commerce,'' and the reputation economy on which everything is based. If you want a greater sense of the benefits and dilemmas of the sharing economy read this book.' --Susan Fournier, Boston University, USTable of ContentsContents: The paradox of the sharing economy, Introductory chapter Russell Belk, Giana Eckhardt and Fleura Bardhi The Nature of Sharing and the Sharing Economy 1. Situating the Sharing Economy: Between Markets, Commons and Capital Adam Arvidsson 2. Sharing as an Alternative Economy Activity Thomas Widlok 3. The who and what of sharing: A phenomenological view Wolfgang Suetzl 4. The Sharing Economy and Lifestyle Movements Mikko Laamanen and Stefan Wahlen Ownership, Access, and Collaborative Modalities 5. To Own or to Access: An Exploration of Sharing and Access Practices by Arab Millennials Maha Baz Radwan, Georgios Patsiaouras and Michael Saren 6 Object History Value in the Sharing Economy Claris X. Li and Richard J. Lutz 7. Guest, friend or colleague? Unpacking relationship norms in collaborative workplaces Adèle Gruen and Laetitia Mimoun 8. Designing the Economics of the Sharing Economy: Towards Sustainable Management Ann Light Exchange Practices in the Sharing Economy 9. The New Face of Bartering in Collaborative Networks: The Case of Italy’s Most Popular Bartering Website Daniele Dalli and Fulvio Fortezza 10. Sharing Economy to the Rescue? The Case of Timebanking Carmen Valor and Elani Papaoikonomou 11. Crowdfunding: Sharing the Entrepreneurial Journey Anirban Mukherjee, Hannah H. Chang, and Amitava Chattopadhyay 12. Crowdfunding the development of new products and services Natalia Drozdova, Seidali Kurtmollaiev and Ingeborg Kleppe Hybridity, Institutional Logics and Institutional Theory 13. Tracking the institutional logics of the sharing economy Andrea Gessinger, Christopher Laurell, Christina Oberg and Christian Sandstrom 14. Airbnb and Hybridized Logics of Commerce and Hospitality Georg von Richthofen and Eileen Fischer 15. The Hybrid Nature on Online Facilitated Offline Sharing Konstanty Strzyczkowski 16. Decentralization as a new framework for the sharing economy Marc Rocas-Royo Legal, Regulatory, and Public Policy Considerations 17. Urban Mobilities and Local Regulation: Transportation Challenges and Promise of the Sharing Economy Hugh Bartling 18. Should Europe Regulate Labour Platforms in the Sharing Economy? Adrian J. Hawley 19. Creating value to mitigate disaster harm: How the sharing economy can support consumers and policy makers Lucie K. Ozanne 20. How Sharing Economy Organizations and City Governments Engage in Institutional Work and How This Shapes Sustainability Oksana Mont, Yulia Voytenko Palgen, and Lucie Zvolska Trust, Satisfaction, and Reputation in the sharing economy 21. Social Dilemmas in the Sharing Economy Rense Corten 22. Leveraging trust on sharing economy platforms: Reputation systems, blockchain technology and cryptocurrencies Mareike Möhlmann, Timm Teubner, and Antje Graul 23. Revisiting Satisfaction with Collaborative Exchanges in the Sharing Economy Jérôme Mallargé, Alain DeCrop, and Pietro, Zidda 24. Customer goodwill: How perceived competence and rapport influence eWOM’s diagnosticity of Peer-to-Peer and Professional Access-Based Services Christine Pitt, Theresa Eriksson, and Kirk Plangger Critical Perspectives on the Sharing Economy 25. Constructing the Collaborative Consumer: The Role of Digital Platforms Annmarie Ryan and Gabriela Avram 26. Performing (in) the community: Accounting, biopower and the sharing economy Penelope van den Bussche and Jeremy Morales 27. The Rhetoric of Sharing: Managerial Literature on the Sharing Economy Karolina Mikołajewska-Zając 28. Reputation: the ‘fictitious commodity’ of the sharing economy? Alessandro Gandini Index

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Book SynopsisFor most economists, 'Austrian economics' refers to a distinct school of thought, originating with Mises and Hayek and characterised by a strong commitment to free-market liberalism. This innovative book explores an alternative Austrian tradition in economics. Socialist in spirit but too diffuse to be described as a single school of thought, it shares a common conviction that the market, while possibly a good servant, is a very poor master. Demonstrating how the debate on the economics of socialism began in Austria long before the 1930s, this unique book analyses the work and impact of many leading Austrian economists. Beginning with the Austro-Marxist theorists Otto Bauer and Rudolf Hilferding and moving through to the new generation of social democratic economists, most prominently Kurt Rothschild and Josef Steindl, The Alternative Austrian Economics provides insight into the history and evolution of socialist economics in Austria. Offering a previously underrepresented discussion of a century of Austrian socialist economics, this engaging book will prove to be of great value to Marxian and heterodox economists, historians of economic thought and political scientists interested in political economy.Trade Review'Economists associate the Austrian school with the free market classical liberal ideas of Ludwig von Mises and Friedrich Hayek, Professor King describes the ideas of another group of Austrian economists: Marxists who were active in Vienna in the early twentieth century, and later Austro-Marxists who built on their work. King's book is a delightful description of this intellectual community, and explains how their work was designed to be an extension and updating of Marx's ideas.' --Randall G. Holcombe, Florida State University, USTable of ContentsContents: 1. Introduction 2. ‘Red Vienna’ and the Roots of Austro-Marxism 3. The Young Rudolf Hilferding 4. Otto Bauer 1904-1914 5. The Economics of Socialism 6. Otto Bauer 1917-1938 7. Other Voices 8. The Heirs. I: Josef Steindl 9. The Heirs. II: Kurt Rothschild 10. What is Left Bibliography Index

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Book SynopsisFew international organizations embody the idea of historical progress as strongly as the European Union (EU). This book addresses the main shortcoming of treating EU as a vehicle of progress and political unity between European countries: the disregard of such an approach for the underlying diversity of the European continent.Critically examining the meta-ideology underpinning European integration, the author studies the implications of Europe’s heterogeneity, disagreements over European policies, and of pluralism of values for the EU’s governance. The book revisits legacies of post-communist transitions and the role played by international economic and political integration in Eastern Europe – as well as the implications of the EU’s enlargements for the EU’s governance. The result is a novel, polycentric perspective on the EU’s governance.Policy practitioners, commentators, and other opinion leaders as well as academics and students interested in applied political economy and European studies will value this extensive exploration of Governing the EU in an Age of Division.Trade Review‘I highly recommend this book to anyone interested in the fate of the European Union or generally how to govern in an age of division. Dalibor Rohac reminds us that the sovereign borders across Europe may be faint, but they are still very real. Ignore them at your peril. He also reminds us that the original plan for the EU—a single market cooperating on foreign defense policy and trade—was a good one. The EU should stick with the original plan. Some of his messages are subtle and yet also extraordinarily important in today’s age of division. The book crystallizes the challenges in governing the EU. Given Russia’s invasion of Ukraine, geopolitical tensions in the Taiwan Strait, global trade tensions and the weakening of our international institutions, this book is more important than ever. To survive this age of division, leaders across the EU may have to readjust their expectations for their great union, or else risk losing it.’ -- Christine McDaniel, Discourse Magazine‘Books about the European Union tend to be dry and academic. In this bracing addition to the literature, Dalibor Rohac breaks the mold. Neither an uncritical cheerleader of the EU nor a knee-jerk critic, he provides a rigorous examination of its short-comings and a measured appraisal of its successes. With engaging prose that manages both to inform and entertain, Rohac explains why everyone concerned about the fate of liberal democracy should care about the future of this much-maligned institution.’ -- James Kirchick, author, The End of Europe: Dictators, Demagogues, and the Coming Dark Age‘For too long, the European debate has been dominated by a conflict between centralisers and nationalists. They are seen as opposites, but share a neglect of Europe’s real strength – its openness and pluralism. Dalibor Rohac’s new book offers a sensible and desirable alternative, which makes it a necessary read for everyone interested in a liberal international order.’ -- Johan Norberg, Cato Institute, Washington D.C., US‘Dalibor Rohac isn't all misty-eyed when people talk about the European Union. Nor is he scornful, though, of the EU's real accomplishments and possibilities. This is a rare, hard-headed, and balanced look at an important part of the current geopolitical landscape. Read and learn.’ -- William Kristol, The Bulwark‘Dalibor Rohac‘s new book on Europe and the future of the European Union is elegant in style and thought-provoking in substance. Amidst Russia’s war on Ukraine and challenge to the European security order, Rohac asks penetrating and important questions about Europe’s political personality. With a robust defence of the West and constitutional liberalism, Rohac argues for European pluralism – a James Madison-style approach to European cooperation and power. It should be read by both scholars and political leaders!’ -- Fredrik Erixon, European Centre for International Political Economy (ECIPE), Brussels‘Dalibor Rohac takes a close look here at the European Union. Unlike most conservative scholars who question the usefulness of multilateral institutions, he offers a very well-documented perspective on why the EU is here to stay – despite deep divisions among its members, despite frequent bureaucratic stalemate, and despite a nationalist momentum exemplified by Brexit. This is a book that should be read widely by policymakers and college students alike. For students, the extensive footnotes alone offer important guidance to the EU's often obscure decision-making processes and policies.’ -- – Charles Gati, Johns Hopkins University, US‘Dalibor presents a future vision of the EU which does not go as far as the United States of Europe or Federal Republic of Europe that many EUphiles wish to see. Instead, he calls for a more flexible arrangement recognising both the strength of the pluralism of Europe and the common interests of member states. This book deserves to be read by those who take an interest in EU affairs whether a believer in the project of political integration or a sceptic.’ -- Lord Syed Kamall, St Mary’s University, Twickenham, UKTable of ContentsContents: Preface 1. A glass half full or half empty? 2. The light that did not fail 3. The enlargement hangovers 4. What is European integration for? 5. Out of the Euro trap 6. Shared challenges, divergent interests, decentralized solutions 7. The superpower that wasn’t References Index

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Book SynopsisAttaining the 2030 Sustainable Development Goal of Decent Work and Economic Growth focuses on Sustainable Development Goal number eight (SDG8): inclusive and sustainable economic growth and productive employment for all. Examining family businesses in Brazil, UK, Australia, and Algeria, each case study presents a unique perspective from their respective countries of how the SDG8 translates into culture and the practice of doing business, providing insights and key takeaways into how family businesses can play a role promoting decent work and economic growth. The United Nations’ (UN) Sustainable Development Goals (SDGs) are 17 Goals pledged by 193 nations in 2015 which would help engender an improved, fairer, and more sustainable world – one in which ‘no one is left behind’. The SDGs are a call to action, to develop innovative solutions to the most complex, societal, and environmental global challenges. In Family Businesses on a Mission, series editors Naomi Birdthistle and Rob Hales bring together international case studies to illustrate how family businesses can attain the UN 2030 SDGs. Accessible to those working in the field beyond academia – such as family business practitioners, family business owners, government and policymakers, members of NGOs, business associations and philanthropic centres – the book series equally appeals to those with a general interest in entrepreneurship and business. Table of ContentsChapter 1. The Sustainable Development Goals – SDG#8 Decent Work and Economic Growth; Rob Hales and Naomi Birdthistle Chapter 2. What is a family business and their contribution to the global economy?; Naomi Birdthistle and Rob Hales Chapter 3. UK: Pentland Brands Limited; Sara Brennan and Allan Discua Cruz Chapter 4. Brazil: Family Firm’s Culture and Values Promote Sustainable Economic Growth; Elisa Balabram Chapter 5. Australia: Family Business and Sustainability: The case of Outland Denim; Mary Barrett and Ken Moores Chapter 6. Algeria – Social innovation to foster inclusive growth and development: the experience of Benamor; Sofiane Baba, Omar Hemissi, and Taïeb Hafsi

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Book SynopsisThe centerpiece of Volume 40B of Research in the History of Economic Thought and Methodology is a symposium on the work of William Baumol, edited by Erwin Dekker. The symposium includes contributions from Alex Tabarrok, Jochen Hartwig and Hagen M. Krämer, Alexandre Chirat, Victor A. Beker, Caroline Colton, Magnus Henrekson and Mikael Stenkula, and Anna Noci. Volume 40B also features new general-research essays from Juan Pablo Castilla and Fabrizio Bientinesi.Table of ContentsPART I: A Symposium on the Work of William J. Baumol: Heterodox Inspirations and Neoclassical Models; Erwin Dekker Chapter 1. Introduction - The Work of William J. Baumol: Heterodox Inspirations and Neoclassical Models; Erwin Dekker Chapter 2. William Baumol and the Cost Disease; Alex Tabarrok Chapter 3. Baumol’s Cost Disease in Times of Rising Income Inequality; Jochen Hartwig and Hagen M. Krämer Chapter 4. The Correspondence between Baumol and Galbraith (1957–1958): An Unsuspected Source of Managerial Theories of the Firm; Alexandre Chirat Chapter 5. Baumol´s Contribution to Telecommunications Regulation; Victor A. Beker Chapter 6. William Baumol and Contestability: From AT&T to Platforms; Caroline Colton Chapter 7. William J. Baumol: Innovative Contributor to Entrepreneurship Economics; Magnus Henrekson and Mikael Stenkula Chapter 8. So, What did Marx ‘Really’ mean? The Methodenstreit between Baumol and Samuelson on the History of Economic Thought; Anna Noci PART II: Essays Chapter 9. To Kill a Black Swan: The Credibility Revolution at Cede, 2000-2018; Juan Pablo Castilla Chapter 10. A Bias for Bias? The Impact of “Authoritarian” Politics as shown by Italian International Trade Debate Experience, 1913-1942; Fabrizio Bientinesi

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Book SynopsisIn this innovative book, S. Niggol Seo investigates the intrinsic and intriguing relationship between the fundamental teachings of Buddhism and the principles of economics and happiness. Offering a unique perspective on the topic, Seo delves deep into the theoretical foundations of economics and Buddhist teachings, highlighting how these seemingly polar opposite thought systems cross paths.Seo argues that when it comes to markets, prices, interest rates, growth, poverty, and environmental protection, Buddhism and economics share a number of common economic ideas. Written in an accessible style, Seo presents both a succinct and encompassing description of Buddhism for economists, as well as a comprehensive overview of economics. Buddha, Wisdom and Economics brings together in a balanced and systematic way the common ground between both endeavours. It further examines important topics in the field in light of Buddhist teachings, including economic growth and happiness, poverty and environmental protection.This thought-provoking book will be an invigorating read for undergraduate and postgraduate economics students and to those with a particular interest in development economics, religion, welfare and happiness studies. It also offers ground-breaking insights for economic policy-makers looking to better understand the intersection between Buddhism and economics.Trade Review‘Buddha, Wisdom and Economics: A Contribution to the Art of Happiness by S. Niggol Seo is a complicated and thoughtful treatise of two facets of the author's life. The first has been spent reading and absorbing the thoughts of the three Buddhas. The second has been a long professional education understanding economics and applying that understanding specifically to environmental economics. The aim of the book is to present a deeper understanding of Buddhism to economists and an introduction of economics to Buddhists.' -- Robert Mendelsohn, Yale University, USTable of ContentsContents: Preface viii About the Author 1 Introduction to Buddha, Wisdom and Economics 2 Buddha: a concise introduction with life stories for this audience 3 Perfection of wisdom: a concise introduction for this audience 4 Market: the foundation of economics 5 The value of something: material value versus inner value 6 Capital and interest rate: no possessions or earn profits? 7 Economic growth: happiness versus growth 8 Poverty: all people being equal versus getting people out of poverty 9 Environmental protection: protect all versus protect wisely 10 Personal reflections on bodhisattva deeds in the “reality” of the market Bibliography of the Sutras Cited Index

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Book SynopsisResearch in the History of Economic Thought and Methodology (RHETM) is a book series dedicated to an interdisciplinary approach to a broad range of topics related to the history and methodology of economics.Table of ContentsPART I. A Symposium on John Kennethj Galbraith: Economic Structures and Policies for the Twenty-First Century Chapter 1. Introduction; Richard P. F. Holt Chapter 2. Galbraith and Economic Power; Steven Pressman Chapter 3. Consumer Sovereignty in the Digital Society; Alexandre Chirat Chapter 4. John Kenneth Galbraith’s Social Balancing Theory in the 21st Century; Eric Scorsone Chapter 5. John Kenneth Galbraith on the Military Industrial Complex; Adem Yavuz Elveren Chapter 6. The Social Consequences of Inflation and Unemployment and their Remedies; Alexandre Chirat, Basile Clerc, and Richard P. F. Holt PART II. Essays Chapter 7. Pareto efficiency from Lausanne to the United States: the role of Maurice Allais; Irène Berthonnet Chapter 8. From Regulation to Deregulation and (Perhaps) Back: A Peculiar Continuity in the Analytical Framework; William McColloch and Matías Vernengo

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Book SynopsisAs businesses, consumers, and investors make key financial decisions amid Economic Policy Uncertainty (EPU), there is the danger that many might freeze investment projects and hiring, leading to contractions of the economy. These are evident in the Indian economy as a whole and specifically in Indian stock markets indices such as the BSE Sensex and Nifty 50, import and export figures, T-bills, FDI, FPI, and GDP. In this important and timely work, Ghosh and Bagchi examine variables and phenomenon from April 2003 to January 2022, encompassing: • The global financial recession period (December 2007 to June 2009) • The pre-recession period (April 2003 to November 2007) • The post-recession along with pre-COVID-19 period (July 2009 to February 2020) • The COVID-19 period (March 2020 to January 2022) • The Russia-Ukraine Conflict Period (September 2021 to July 2022) This is essential reading for scholars and practitioners dealing with Economic Policy Uncertainty (EPU) in the Indian context, and in macro-economics at large.Table of ContentsChapter 1. Introduction Chapter 2. Economic Policy Uncertainty (EPU) in the Indian Context Chapter 3. Macro-Economic Indicators and Indian Stock Markets: An Overview Chapter 4. Effects of Economic Policy Uncertainty on Indian Economy and Stock Markets in Times of Covid-19 crisis Chapter 5. Impact of the Russia-Ukraine Conflict on the Indian Economy Chapter 6. Empirical Data Analysis and Findings of the Study Chapter 7. Conclusions and Recommendations

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Book SynopsisResearch in the History of Economic Thought and Methodology (RHETM) is a book series dedicated to an interdisciplinary approach to a broad range of topics related to the history and methodology of economics.Table of ContentsPART I. A Symposium on Hazel Kyrk's A Theory of Consumption 100 Years after Publication Chapter 1. Introduction; Rebeca Gomez Betancourt Chapter 2. Hazel Kyrk’s intellectual roots: When First-Generation Home Economists Met the Institutionalist Framework; David Philippy, Rebeca Gomez Betancourt, and Robert W. Dimand Chapter 3. Hazel Kyrk’s A Theory of Consumption, Veblen’s Business and Industrial Concerns, and W.C. Mitchell’s Essays on Spending and Money: Conceptual Links; Zdravka Todorova Chapter 4. Hazel Kyrk and her Research on Standards of Consumption; Edith Kuiper Chapter 5. Hazel Kyrk, the Economics of the Social Relevance of Consumption and John Maynard Keynes’ Consumption Function; Atilio Trezzini Chapter 6. What should families want? From Hazel Kyrk to Margaret Reid and beyond; Miriam Bankovsky PART II. Essays Chapter 7. On the Integration of Institutional Themes and Neoclassical Formalism: Locational Economics as a Case Study in Pragmatic Empiricism; Yue Xiao and Joseph Persky Chapter 8. Nutter and Buchanan did not turn against tuition grants for segregated schools in 1965: A comment on Fleury (2023) and Levy and Peart (2023); Daniel Kuehn Chapter 9. Response to Kuehn: Buchanan on the rules for public school funding: Additional thoughts; David Levy and Sandra Peart

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Book SynopsisVolume 41A of Research in the History of Economic Thought and Methodology features a symposium on “Religion, the Scottish Enlightenment, and the Rise of Liberalism,” a new research essay by Syed Mohib Ali, and a roundtable on the institutionalist economics of Geoffrey Hodgson.Table of ContentsPART I: A Symposium on Religion, the Scottish Enlightenment, and the Rise of Liberalism; Jordan J. Ballor and Erik W. Matson Chapter 1. Introduction to the Symposium: Religion, the Scottish Enlightenment, and the Rise of Liberalism; Jordan J. Ballor and Erik W. Matson Chapter 2. Believing, Belonging and Understanding: Religion and Philosophy as Narratives and Practice in Adam Smith; Jimena Hurtado Chapter 3. Adam Smith and Religious Mercantilism; Maria Pia Paganelli Chapter 4. The Quest for Adam Smith’s Theodicy; Paul Oslington Chapter 5. The Circumstantiality of Bivariate Relationships in The Theory of Moral Sentiments; Daniel B. Klein Chapter 6. The Anthropology of Liberalism: Smith and Us; Christina McRorie Chapter 7. Opposing Sketches of the Clergy as Literati during the Scottish Enlightenment: Hugh Blair and John Witherspoon; Paul D. Mueller PART II: Essay Chapter 8. Description as Theory: Sen and Sraffa; Syed Mohib Ali PART III: Roundtable on Geoffrey Hodgson's "Discovering Institutionalism: One Person's Journey" Chapter 9. Discovering Institutionalism: One Person’s Journey; Geoffrey Hodgson Chapter 10. Geoffrey Hodgson’s Institutional Economics: Veblenian Origins and Beyond; Felipe Almeida Chapter 11. Can Institutional Economics Still Fascinate Scholars?; Angela Ambrosino Chapter 12. Why is Geoffrey Hodgson So Important for Institutional and Evolutionary Economics? Some Personal Views; Olivier Brette Chapter 13. Geoffrey Hodgson: An Institutionalist's Institutionalist; Daniel H. Cole Chapter 14. Comment on “Discovering Institutionalism: One Person’s Journey” by Geoff Hodgson; Richard N. Langlois Chapter 15. Learning Economics. Discovering Geoff Hodgson; Alain Marciano Chapter 16. The Three Scientific Faults in Some Neo-Institutionalism; Deirdre McCloskey Chapter 17. The Institutional Economics of Geoffrey Hodgson: Some Distinctive Foundations; David Duquech

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Book SynopsisThis timely Research Agenda examines the ways in which public–private partnerships (PPPs) in infrastructure continue to excite policy makers, governments, research scholars and critics around the world. It analyzes the PPP research journey to date and articulates the lessons learned as a result of the increasing interest in improving infrastructure governance. Expert international contributors explore how PPP ideas have spread, transferred and transformed, causing supporting markets to develop and mature.Providing a multidisciplinary perspective on the topic, this thought-provoking Research Agenda proposes a range of future research directions, pointing towards the potential of fresh research approaches to PPP, the adoption of new theories and intellectual lenses, better balancing of public–private interests, and stronger public governance across what has now become a global phenomenon. It lights the way to diverse research frontiers ranging from financialization to psychology and behavioural science, as well as the continuing prominence of public administration, politics, economics, planning and law.A Research Agenda for Public–Private Partnerships and the Governance of Infrastructure will be an enticing read for students and scholars of regulation and governance, public management and administration, politics and economics as well as industry professionals across the domains of public policy, infrastructure and city planning.Trade Review‘Public–private partnerships have been a major development in public sector reform around the world in recent decades – but their role remains hotly contested. In this book, Carsten Greve and Graeme Hodge, as major contributors to the field, bring together leading scholars to provide an in-depth survey of current research into PPPs and key avenues for future research. With its outstanding analytical depth and comprehensive range of topics, it offers an indispensable guide for both researchers and government policymakers.’ -- Tony Bovaird, University of Birmingham, UK‘The world of PPPs and infrastructure governance is perilously complex, but this must-read book is the key to unlock the evolution of and momentum behind the global research agenda. Reading the individual contributions, I felt thrilled, impressed and humbled. Thrilled about the quality and diversity of research from long-established and newer authors. Impressed by the combination of fine eyes for detail and the identification of overarching themes, all explained in reader-friendly language. Humbled by the multitude of research challenges that remain.’ -- Professor Emerita Pam Stapleton, The University of Manchester, UK‘This edited volume makes a major contribution to the literature on public–private partnerships (P3s). Utilizing both cross-national and interdisciplinary approaches, the book assesses the current state of P3 research and suggests new avenues for future enquiry.’ -- Lawrence Martin, University of Central Florida, US‘This volume is an invaluable resource for scholars interested in public–private partnerships in infrastructure. Drawing on a broad range of disciplinary perspectives, it explains what we have already learned about partnerships, and identifies the critical questions that remain to be answered. All of this is done in a crisp and accessible style.’ -- Alasdair Roberts, University of Massachusetts, Amherst, USTable of ContentsContents: Preface and acknowledgements xiii PART I INTRODUCTION 1 The PPP research terrain in a contested era 3 Carsten Greve and Graeme A. Hodge 2 Theories of public–private partnerships 35 Erik-Hans Klijn 3 The use of research methods in public–private partnership research 55 Rianne Warsen PART II NEW FRONTIERS IN A CONTESTED WORLD 4 Public–private partnerships in an economist’s eye: a gleam or a beam? 85 Dmitri Vinogradov and Elena Shadrina 5 New frontiers in the politics of public–private partnerships 105 Anthony M. Bertelli and Eleanor F. Woodhouse 6 Psychological and ontological research on PPPs: what is PPP doing to us? 117 Sophie Sturup 7 What can behavioural science teach us about the policy settings for privately financed public infrastructure? 131 Sebastian Zwalf 8 A public turn in the governance of infrastructure 151 Lene Tolstrup Christensen and Carsten Greve 9 New frontiers in planning: city building through public–private partnerships? 163 Matti Siemiatycki 10 New frontiers of PPP law 179 Christina Tvarnø and Sarah Maria Denta PART III CONTEMPORARY AND CONTINUING THEMES IN A CONTESTED WORLD 11 Financialization: the next stage in PPP development 205 Anne Stafford, Stewart Smyth and Marta Almeida 12 Great expectations for pension funds: a tale of two cities 229 Richard Foster and Graeme A. Hodge 13 The public–private partnership market maturity research frontier 261 Carter B. Casady 14 The determinants of PPP uptake in Europe: a mixed methods approach 277 Moritz Liebe 15 Institutional work in policy transfers: a case study of PPP adoption in Germany 305 Micaela Mihov 16 High speed, high cost: the problematic procurement of Ireland’s National Broadband Plan 331 Dónal Palcic and Eoin Reeves PART IV CONCLUSION 17 Common themes for a PPP research agenda 353 Graeme A. Hodge and Carsten Greve Index

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Book SynopsisThe rapidly increasing importance of China, India, Indonesia, Japan, South Korea and Taiwan both in Asia and in the world economy, represents a trend that is set to continue into the 21st century.This book provides an authoritative assessment of the 20th century performance of these countries, and in particular the factors contributing to the acceleration of Asian growth in the latter part of the century. The contributors look at Asia within a global perspective and detailed comparisons are drawn with Australia and the USA. Contributions from leading experts offer a comprehensive review of the procedures necessary to establish valid international comparisons for countries with very different economic histories and levels of development. These include methods of growth performance measurement and techniques of growth accounting.The Asian Economies in the Twentieth Century will be an indispensable new tool for policy analysts, international agencies and academic researchers.Trade Review'. . . this book should be on the shelf of economists and economic historians interested in Asia.' -- J. Thomas Lindblad, Bulletin of Indonesian Economic Studies'. . . this is a valuable collection of papers, which students of long-term economic growth in Asia will certainly need to read and ponder. Sceptics of historical national accounting may not be completely won over, but they will be forced to acknowledge that we can learn much from careful quantitative studies of the kind presented here.' -- Anne Booth, The World Economy'It would be a useful addition to faculty libraries in social science and business faculties. . . A book with a strong focus like this one and a wide regional range makes it a strong candidate for library purchase.' -- Malcolm Warner, Asia Pacific Business ReviewTable of ContentsContents: 1. Introduction: Measuring Asian Performances 2. The International Comparison of Real Product and Productivity 3. International Comparison of Farm Sector Performance: Methodological Options and Empirics Findings for Asia-Pacific Economies, 1900–94 4. A Comparison of Real Output and Productivity Levels in Australian and United States Manufacturing, 1970–95 5. Industrial Output and Labour Productivity in China 1949–94: A Reassessment 6. Twentieth Century Economic Performance of India 7. Indonesia’s Growth Performance in the Twentieth Century 8. The Long-term Performance of the Japanese Economy 9. Realising Growth Potential: South Korea and Taiwan, 1960 to 1998 Index

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Book SynopsisThis insightful book focuses on the economic consequences of structural reform policies in the economies at the cutting edge of reform: Denmark, The Netherlands, New Zealand and Norway. The contributors examine policies aimed at improving the underlying path of growth, employment and saving-investment balances of the economy and apply state of the art methods to measure and model structural reforms. They examine the areas of competition policy, regulation of entry barriers, non-tariff trade barriers and employment protection rules as well as the quality of education and training, the efficiency of various public sector agencies and labour supply effects of care for children and the elderly. Special attention is paid to two 'success stories': New Zealand's 'Kiwi-model' and the Dutch 'Polder-model'. The book provides a welcome addition to the scarce evidence on both the costs and the benefits of structural reform and identifies the policy problems and the analytical issues at stake.This book will be indispensable to policymakers and academics with an interest in structural reform and macroeconomic policy.Table of ContentsContents: Preface 1. Structural Reform: The Issues Part I: Experiences with Structural Reform 2. Reform and Experience in New Zealand 3. The Policy Experience of Structural Reform in the Netherlands 4. Structural Reform in the Netherlands and New Zealand: Two Roads to Success? Part II: Modelling Structural Reform 5. Gains from Improved Sectoral Efficiency in Norway 6. A Dynamic CGE Analysis of the Danish 1993 Tax Reform Act Part III: Measuring Structural Reform 7. A Miracle or Not? Recent Trends in the Growth Performance of the Dutch Economy 8. Productivity, Wage Moderation, and Specificity in Factor Inputs Index

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Book SynopsisIn 1990 Mongolia, the second oldest communist state in the world, initiated a fundamental transformation of its economy and moved rapidly to a multi-party democracy. Unlike any other Asian economy it adopted the shock-therapy approach to transition. This book is the first attempt to provide a detailed examination of transition in Mongolia since 1990. It includes analyses of macroeconomic performance, the agriculture and industry sectors, the labour market and the emerging financial sector. It also focuses on poverty, gender, privatisation and the environment. The contributors to this volume argue that policymakers have exacerbated the painful transition process by underestimating its complexity and by pursuing inappropriate or, at best, overly optimistic policy reforms.Trade Review'This book offers an overview of Mongolia's transition during the 1990s from a centrally planned to a market-based economy. It is recommended to anyone interested in learning more about the process of economic transition in Mongolia and the structure and state of the Mongolian economy. It is appropriate for students with a basic understanding of economics from the undergraduate level on up, and provides valuable statistics and descriptive information for academics, government officials or anyone interested in understanding Mongolia's economy up to the late-1990s. It is an important addition to the literature because it is one of the only comprehensive sources for descriptions and data covering the major economic sectors in Mongolia.' -- Charles Krusekopf, Mongolian Studies'I am very glad to have this work on my bookshelf.' -- Judith Nordby, Sibirica'As the first full-length book treatment of the Mongolian economy since the abandonment of central planning, this is a welcome addition to the literature . . . this book is likely to become a standard reference on this crucial period in Mongolia's economic history. It contains a wealth of material, and the individual contributions are marked by common sense and reasonable balance. Anybody wanting an introduction to the Mongolian economy will find it here. . .' -- Richard R. Pomfret, Slavic Review'There are few subjects about which more pernicious nonsense is written than the problems of countries in transition from central planning to the market. The authors of this book have performed a double service to the reader. First, they have provided a sensible, balanced, and informative discussion of the problems of transition, as an antidote to free market fundamentalism. Second, they provide a thorough treatment of a country about which relatively little is written. The book can be read with profit by both the Asian specialist and someone interested in the problems of transition in general.' -- John Weeks, School of Oriental and African Studies, University of London, UKTable of ContentsContents: Preface Introduction 1. Transition and Development 2. Administrative Reform 3. Macroeconomic Policy and Performance 4. Money and Finance 5. The External Sector 6. Industry and Transport 7. Privatisation, Enterprise and Private Sector Development 8. Role of Livestock and Crop Economy in the Mongolian Economic Transition 9. Environmental Impacts of the Mongolian Economic Transition 10. Poverty in Mongolia 11. The Mongolian Labour Market in Transition 12. The Gender Dimension of Economic Transition in Mongolia Index

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Book SynopsisHow do young people survive in the era of high unemployment, persistent economic crises and poor living standards that characterise post-communist society in the former Soviet Union? This major original book - written by leading authorities in the field - shows how young people have managed to maintain optimism despite the very severe economic and social problems that beset the countries of the former Soviet Union.In most former Soviet countries the devastating initial shock of market reforms has been followed by precious little therapy. The effects have been most pronounced among young people as only a minority have prospered in the new market economies and inequalities have widened dramatically. Despite an all-round improvement in educational standards, most young people have been unable to obtain proper jobs. Housing and family transitions have been blocked. Uses of free time have shifted massively from the public into the private domain. Few young people have any confidence that their countries' political leaders will engineer solutions. Yet in spite of all this, the majority prefer the new uncertainties, and the merest prospect of the Western way of life, to the old guarantees. They are prepared to give the reforms more time to deliver, but this time is now fast running out.Surviving Post-communism will be an illuminating exposition of the realities of post-communist life for scholars of sociology and transition studies.Trade Review'Surviving Post-Communism provides a wealth of data about the economic and social factors that guide and describe young peoples' lives in politics in flux.' -- Fran Markowitz, Slavic Review'. . . an interesting book on young people in post-communist society in Ukraine, Armenia, and Georgia.' -- D.J. Dunn, ChoiceTable of ContentsContents: Preface 1. After Communism 2. Jobs and Career Routes 3. Education and Life Chances 4. Family Transitions and Gender Divisions 5. Leisure and Lifestyle 6. Politics 7. Precarious Transitions Bibliography Index

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Book SynopsisTen years after the collapse of communism in Poland, the debate continues over the impact of the transition to a market economy. Whilst few actually say the socialist system could - or should - have been preserved, the path of change has been far from smooth, and has produced both winners and losers in the race to reform.This book assesses the prevailing attitudes of both support and disenchantment among Poles towards transition, in the light of their own experiences. In particular Janice Bell uses statistical indicators on economic well-being, regional voting results and public opinion survey data to analyse the socio-economic influences on patterns of voting behaviour, and finds unemployment to be a crucial denominator.Groundbreaking in its perspective, this study will appeal to all those concerned with the social implications of reform programmes in former communist countries.Trade Review'The book presents us with a wide panorama of socioeconomic changes that have occurred in Poland since the 1989 turning point together with a penetrating insight into their causes and what impact they have had on political life . . . Bell's handling of statistical data and rich material she discovers make her analyses thorough, reliable, and accurate. It also should be noted that a great merit of the book is that the author does not limit herself to mere numbers. She makes attempts at interesting interpretations, so that the reader is not at a loss for an appropriate understanding of processes that are under way here. Bell knows that numbers only manifest some social forces but do not explain them. It is a sociologist's job to do that. And, in this respect, the book fits well into the list of studies that could be called guidelines into the period of transition.' -- Jan Klos, Journal of Markets & Morality'This book is a well-researched analysis of the political economy of postcommunist Poland, covering voting patterns from the presidential and parliamentary elections between 1990 and 1997. It relies on a sophisticated quantitative methodology that successfully combines a great deal of public opinion data and regression analysis of statistical data . . . an insightful and stimulating book that provides enriching reading on an important aspect of Poland's postcommunist experience.' -- Harald Wydra, Slavic Review'I learned more from this book about the impact of the economic and social costs of reforms on politics than from any other published either in English or Polish. It is an objective book, offering both empirical evidence and analysis. It should be recommended to anybody interested in the political economy of post-communist transition.' -- Tomasz Mickiewicz, University College London, UKTable of ContentsContents: Introduction: Assessing Poland’s Political and Economic Transition 1. Winners, Losers, and Why it Matters for Politics 2. Public Views on the Costs and Benefits of Transition 3. Income, Unemployment and Voting in Poland 4. Regions 5. Households During Transition 6. Winners, Losers and Party Preferences Appendices Bibliography Index

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Book SynopsisThis highly original new book examines the scientific status of economics from the perspective of practising economists. It studies how they evaluate their theories, the relationship between those theories and the phenomena they are intended to represent, and the philosophy, methodology and scientific credentials of economics. It examines the tension between economics as the logic of rational choice and as a predictive science, that is reason and reality respectively.It surveys the five most influential schools of thought in the methodology of economics, with special emphasis on theory appraisal: logical positivism, instrumentalism, a priorism, scientific realism and rhetorical analysis. Professor Fox assesses the extent to which economists have followed the precepts and consequences of their methodological position. He extends the discussion to consider the purpose of such economic inquiry, the scope of application and the appropriate structure of economic theory, as the legitimate sources of economic knowledge. In conclusion he argues that a resolution of existing and emerging methodological controversies in economics must begin with a better understanding of the various voices within the discipline.Intended as an introduction to the major schools of thought in economics, this book will be of interest to students and scholars of economics, philosophy and economic methodology.Trade Review'Economists are producers of economic knowledge. But what is the relation of that knowledge to the object of inquiry and to the mode of analysis? The status of a statement of knowledge depends on the positions economists accept in such matters. But economists have quite different perceptions of both the object of inquiry and their mode(s) of analysis. Glenn Fox presents the issues and the positions involved in these matters in a rich and lucid manner. His book is a superb introduction to methodological issues for the beginner and a suggestive review for the specialist.' -- Warren J. Samuels, Michigan State University, USTable of ContentsContents: 1. Is there a Crisis in Economics? 2. How do Economists Know What They Know? 3. What is Methodology? 4. Economics as Positivism and Falsificationism 5. Economics as Prediction 6. Economics as Deduction 7. Economics as Realism 8. Economics as Conversation and Rhetoric 9. Is Economics a Science? Index

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Book SynopsisThis book explores whether foreign direct investment (FDI) can contribute to the competitiveness of industries in Central Europe and to narrowing the gap between these transition economies and countries within the European Union. The Czech Republic, Hungary, Slovakia and Slovenia have attracted substantial FDI since the beginning of their transition to a market economy. Using exhaustive empirical data, the authors demonstrate that foreign investment enterprises in Central Europe have higher allocative efficiency, promote macro- and microeconomic restructuring and foster the restructuring of the manufacturing sector in accordance with the host countries' comparative advantages. The case of Austria is used to demonstrate the possible benefits of FDI. On the other hand, high foreign penetration leads to the concentration of production and exports and makes the economy more vulnerable to external shocks. In addition, there may be unwelcome pressures on economic policy in order to maintain the country's position as a frequented investment target. However, the analysis in this book suggests that, on the whole, economies in transition can become more competitive more rapidly and more profoundly with the help of foreign direct investment.This book will be of interest to students and scholars of international economics, European studies, economies of transition and international business.Trade Review'This book. . . represents a very valuable contribution to the literature on the role of FDI in development in Central and Eastern Europe. It is therefore a must for both scholars and practitioners who are involved in foreign investment in economies in transition.' -- Marjan Svetlicic, Transnational Corporations'The book goes a long way toward understanding a host of key issues related to the emerging pattern of MNC-cum-host collaborative growth in Central and Eastern Europe.' -- From the foreword by Terutomo Ozawa, Colorado State University, USTable of ContentsContents: Foreword Introduction 1. Introduction: Integration Through FDI Making Central European Industries Competitive 2. Central Europe Catching-up Through FDI? 3. FDI, Technology Transfer and Growth in Economic Theory 4. The Role of FDI in Restructuring and Modernization: An Overview of Literature 5. Austria – Catching-up Through Inward FDI? 6. Foreign Penetration in Central European Manufacturing 7. Restructuring and Efficiency Upgrading with FDI 8. Production Specialization in Central European Manufacturing 9. FIEs and Productivity Convergence in Central Europe 10. The Impact of FDI on the Foreign Trade of CECs 11. FDI in the Balance-of-Payments Framework Index

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Book Synopsis'Capitalism is Change'. This famous expression of Joseph Schumpeter was not only characteristic of his time, but is certainly relevant as we enter the twenty-first century. The transition of Eastern Europe and the former Soviet Union, the Asian crisis and European integration all characterise the continuous change of capitalism. What is the role of entrepreneurs in capitalist society? How effective are technological policies in changing institutions? Are the economic systems of the United States, Europe and Asia converging? In answer to these questions distinguished contributors - including Paul Krugman - focus on the theoretical foundations of the evolution of capitalist institutions. They apply these theoretical insights to the firm, sectors and economic systems.The combination of recent developments in theory with empirical studies will ensure that this book is essential reading for all those interested in evolutionary and institutional economics, political economy, technology policy, innovation and knowledge.Trade Review'This book is an important contribution to the growing literature on evolutionary economics, concentrating, as it does, on the human factor in economic evolution and avoiding the unconvincing arguments based almost entirely on mere analogy with biological processes of much of the writing in this field.' -- John Laurent, History of Economics ReviewTable of ContentsContents: 1. Implications of Evolutionary Economics; Theory, Method and Policies 2. What Economists Can Learn from Evolutionary Theorists – and Vice Versa 3. Discontinuous Changes in Institutional Systems 4. The Legacy of J.R. Commons’ Conception of Economics as a Science of Behaviour 5. Discovery Versus Creation 6. Uncertainty, Intelligence and Imagination 7. The Diffusion of Organisational Innovations 8. The Variety and the Dynamics of Capitalism 9. Understanding Varieties in the Structure and Performance of National Innovation Systems 10. Capabilities, Tacit Knowledge and Systematic Change 11. An Evolutionary Analysis of Technology Policy Index

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Book SynopsisResearch suggests that innovation and technological change are crucial for the economic recovery of the former centrally planned countries in Central and Eastern Europe. This book analyses the development of innovation systems and technology policy in this region from various perspectives, demonstrating not only its importance but also its complexity.Included in the book are discussions on: the process of transforming the innovation systems in Central and Eastern Europe a comparison of R&D between 'East' and 'West' gradualism versus 'Big Bang' as the preferable strategy for reform innovation at the firm level productivity and competitiveness the ability to identify and exploit external knowledge in adopting up-to-date technology The authors conclude that rebuilding innovation systems in Central and Eastern Europe will require considerable time, and that there is no 'best practice' or ideal strategy which can be clearly recommended.This book will be warmly welcomed by scholars working in the fields of transition studies, innovation and technology, as well as policy makers involved in designing technology policy in transition economies.Table of ContentsContents: 1. Innovation and Transformation in Post-Socialist Eastern Europe 2. Innovation Systems in Transition 3. Divergence or Convergence in Research and Development and Innovation Between ‘East’ and ‘West’? 4. The Big Bang as a Motivating Device 5. Innovation as a Means of Market Entry and Survival for Firms from Former Socialist Countries 6. Innovation and Transformation 7. The Inherited and Emerging Absorptive Capacities of Firms – Results of a Business Survey in the Estonian Electronics Industry 8. Export Reorientation and Transfer of Know-How and Technology – The Case of Hungarian Manufactured Exports 9. Human Capital and Innovation in Eastern and Western Germany 10. Innovation in Manufacturing Industry – An East West Comparison Index

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Book SynopsisThroughout the 1990s, Russian households experienced a dramatic fall in their traditional sources of subsistence: wages and social benefits. Many commentators have argued that households have adopted 'survival strategies' that enable them to make ends meet, particularly taking second jobs, growing their own food and calling on the help of family and friends. This book reviews the available data to analyse the forms, scale and incidence of these phenomena. The author finds that so-called 'survival strategies' merely represent a continuation of traditional soviet practices. He demonstrates that they disproportionately benefit the better off and that they do not provide a means by which those who have suffered misfortune can compensate for a fall in their earnings. Instead, he illustrates that most Russian households have adapted simply by cutting expenditure rather than by finding new sources of income. The author concludes by arguing that the notion of a 'household survival strategy' is inappropriate for the study of post-soviet society.Based on the analysis of a wide range of qualitative and quantitative data, Making Ends Meet in Contemporary Russia provides a comprehensive analysis of the means by which Russian households have secured their subsistence in the face of a collapse in wages and employment since the end of the soviet system. It will be required reading for all students, scholars and researchers of transition studies, development studies and human geography.Trade Review'. . . this work represents an important contribution to the literature on socioeconomic responses and outcomes in Russia and goes some way toward setting the future agenda for social policy and research. . . and can be recommended to all with an interest in socioeconomic conditions in contemporary Russia.' -- C.J. Gerry, Slavonic and East European Review'The book is nicely written and contains a wealth of empirical data that makes it very interesting reading. Because of the straightforward statistical analysis used too illustrate the author's arguments the book is also very accessible to both social scientists and the general public interested in this topic.' -- Roman Novozhilov, Progress in Development Studies'I believe the book would be of great interest to students and scholars of Russia. It is well documented, very well organized, and provocative. It challenges widely-held ideas about how the Russians are surviving the current economic crisis. . . Not only does the book present a fascinating analysis of the ways Russian households are dealing with everyday economic problems in a transitioning economy, but it also familiarizes the reader with numerous studies and surveys not well known outside of Russia.' -- Alya Guseva, Contemporary Sociology'The starting point for this impressively documented survey is taken as 1985 with employment and social needs more or less in balance.' -- RusistikaTable of ContentsContents: 1. Household Subsistence in the Russian Economic Crisis 2. Secondary Employment 3. The Russian Dacha and the Myth of the Urban Peasant 4. Social Networks and Private Transfers 5. Do Russian Households Have Survival Strategies? References Index

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Book SynopsisThis book examines the major issues arising from the Korean financial crisis of 1997. It considers the strong prospects for rapid economic recovery and the emerging changes in Korea's international economic relations and business environment.The authors investigate the causes of the financial crisis and provide an evaluation of remedial measures and reforms currently being introduced in both private and public sectors of the Korean economy. The book identifies a paradigm shift in Korean economic policy and discusses Korea's new role in both the regional and global economy. It also examines the major developments reshaping Korea's international business environment through fundamental policy shifts in trade, foreign direct investment, labor relations, management practices and the emerging trends in e-commerce.Korea's Economic Prospects will be of interest not only to academics and policy advisors but also to individuals and corporations attempting to capitalize on emerging business opportunities in Korea.Trade Review'. . . very well presented academic book. . . in Korea's Economic Prospects a valuable source of research material on the economy and its prospects. It will help one to understand the factors leading to the Korean recovery which has recently been recognised by the credit rating agency. . .' -- Marie-Aimee Tourres, The Journal of Development StudiesTable of ContentsContents: Foreword Preface Introduction Part I: Korea’s New Role in the Regional and Global Economy Part II: Macroeconomic Policy and Prospects Part III: Financial Crisis and Structural Reforms Part IV: Industrial Policy and Productivity in Korea Part V: Labor Market and Labor Relations Part VI: Changes in the International Business Environment Index

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Book SynopsisTen years ago the former Soviet Union was pictured in the West as a monolithic unit governed from Moscow with a firm hand. Today, the geographical area which once constituted the USSR no longer exists and the disparities between regions are increasing all the time. This is the first book to provide an overview of Russia's regional development during the entire Soviet period as well as presenting a penetrating analysis of the array of regional problems facing Russia as we move into the twenty-first century. It analyses factors contributing to cohesion and disintegration in Russia today, stressing the importance of ethnicity, religion and Russian nationalism. In examining regional developments and spatial policy during the Soviet period, the authors reveal a remarkable paradox that the development of heavy industry actually reduced regional inequalities, but as the economy diversified disparities widened. The book is also a document from 'the people who were there' - that is, those trying in the circumstances then prevailing to develop regional science which never achieved practical application under central planning. The authors conclude that the development of Russia is increasingly becoming an issue of the development of its regions.This book will be useful for academics working in the areas of transitional economics, economic geography, particularly those interested in long term regional divergence and convergence, and economic history.Trade Review'This is a thoughtful and welcome addition to the literature about regional development in the Soviet Union and post-Soviet Russia. . . It is adequately written and straightforwardly presented. It is a specialist book, assuming considerable introductory knowledge of the economic history and geography of the country on the part of the reader.' -- Andrew H. Dawson, Progress in Human GeographyTable of ContentsContents: Preface 1. The Soviet Paradox: Imbalanced Equalisation and Balanced Divergency 2. Soviet Regional Policy 3. Regional Development and Regional Policy in the Gorbachev Period 4. Regional Development and Regional Policy in the New Russia 5. Collapse or a New Dynamism? Bibliography Index

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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 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 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 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 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 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 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 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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