International economics Books

Book SynopsisThe rise of the institutionalist and evolutionary approaches in economics has posed a serious intellectual challenge to the dominant neo-classical paradigm. This book draws together leading scholars in the fields of institutional and evolutionary economics who apply cutting-edge research to one of the most controversial issues of our day, namely, the role of the state.The authors offer a sound methodological guide to the research in this fast-evolving area of economics. They provide a firm theoretical foundation for the role of the state and review the history of policy making. They also use country studies to reinforce their approach, including the role of the state in the Asian Crisis, the current debate on state reform in Japan, public administration in Central and Eastern Europe and the practice of state reform in Brazil. This book will inspire readers to reassess their views on the role of the state and state reform.Table of ContentsContents: Introduction Part I: Theoretical Perspectives on the Role of the State, Institutions and Conventions 1. An Institutional Perspective on the Role of the State: Towards an Institutionalist Political Economy 2. Evolutionary Economics and the Economic Role of the State 3. Disorderly Coordination: The Limited Capacities of States and Markets 4. Conventions and Institutions: Rethinking Problems of State Reform, Governance and Policy 5. From Micro to Macro: The Concept of Emergence and the Role of Institutions Part II: Policy Perspectives 6. National Diversity and Global Capitalism 7. Gestalt Shift: From ‘Miracle’ to ‘Cronyism’ in the Asian Crisis 8. State Reform in the 1990s: Logic and Control Mechanisms 9. Blockage versus Continuance in Brazilian Industrialization 10. Central Banking, Democratic Governance and Political Authority: The Case of Brazil in a Comparative Perspective 11. Public Administration in Central and Eastern Europe: Considerations from the ‘State Science’ Approach Index

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Book SynopsisDue to financial market imperfections it is imperative to analyse the relationship between financial structure and the monetary policy transmission process in Europe to effectively design and implement European monetary policy.Focusing on the years 1980-1995 and providing empirical evidence for six European countries, namely Germany, France, Italy, the UK, Belgium and the Netherlands, the author discusses whether cross-country variations in financial structure have a systematic relationship with inter-country differences in the monetary transmission process. The analysis of this is invaluable as differences in financial structures across EMU countries may hamper the implementation of a common European monetary policy in the future. The conclusion is that some elements of the financial structure are clearly relevant and applicable for European monetary policy and the monetary transmission process in particular. This highly topical book will be of great interest to academics and professional economists in the field of financial, macro and monetary economics and the economics of European integration.Trade Review'I can fully recommend this book to those interested in the transmission process of monetary policy.' -- Harry Garretsen, De EconomistTable of ContentsContents: Introduction 1. Financial Structure: Theories and Stylized Facts for Six EU Countries 2. Credit and Asymmetric Effects of Monetary Policy in Six EU Countries: An Overview 3. Off-Balance-Sheet Activities in Europe: Empirical Evidence from Bank-Level Panel Data 4. Banks and Monetary Transmission in Europe: Empirical Evidence 5. Credit Channels in Europe: A Cross-Country Investigation 6. Consumption and External Finance Premium in Europe: An Empirical Analysis 7. Summary and Conclusions Bibliography Index

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Book SynopsisThis updated and fully revised second edition provides a comprehensive examination of issues of paramount importance for Southeast Asian economies including: the economic implications of the 1997 Asian crisis for both older and newer members of ASEAN the role of government and FDI in ASEAN economic growth and development trade patterns with the US, Japan and the EU and the economic implications of China's accession to the WTO for ASEAN countries the environmental consequences of industrialisation and growth the emergence of economic growth triangles and their contribution to ASEAN growth and regional cooperation the prospects and challenges of ASEAN economic cooperation before and after the crisis and the key challenges facing ASEAN member countries in the aftermath of the crisis. This is a timely and topical book. The Economies of Southeast Asia, Second Edition will continue to be a valuable and essential text for courses on Asian studies and economics, development economics and comparative economic systems in both the East and West.Trade Review'The book is well written and well structured, mixing country-specific analysis with cross-sectional analysis. It provides an extensive examination of issues of paramount importance for the South East Asian economies and, therefore, should interest academia and policymakers whose interests relate to regionalism and development in East Asia. The author has cleverly included useful suggestions for further reading at the end of each chapter, and a useful index at the end of the book. A paperback edition of over 300 pages costing £19.95 is not only value for money, but affordable as well.' -- Anthony Bende-Nabende, Asia Pacific Business Review'. . . for those seeking a fairly comprehensive mainstream account of the key issues faced by ASEAN (post-1997-98 financial crisis), this book nicely fills the order. Recommended for upper-division undergraduate through faculty collections.' -- S.J. Gabriel, Choice'This timely publication is essential reading for those wanting not only to understand the background to the 1997/98 Asian crisis but also to reach conclusions about the sustainability of recovery in Southeast Asia's economies. It is packed full of relevant detail on intra-regional trade and ASEANs wider trade and investment opportunities. In particular it will inform the important debate on whether regional economic blocs are building blocks or stumbling blocks toward global free trade.' -- Roger Sandilands, University of Strathclyde, UKAcclaim for the first edition:'. . . this book is a useful introduction to the complexities of the development of the Association of Southeast Asian Nations (ASEAN) economies within the context of the development of ASEAN itself.' -- Ahmad D. Habir, Pacific AffairsTable of ContentsContents: Preface An Overview Part I: ASEAN Economic Development and Cooperation Before the Crisis Part II: ASEAN External Economic Relations Part III: The 1997 Asian Crisis and its Aftermath Part IV: Future ASEAN Economic Cooperation and Challenges Appendix Bibliography Index

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Book SynopsisThis volume presents detailed analyses of the role and significance of Small and Medium sized Enterprises (SMEs) in the economies of East Asia. Various aspects of SME operations are studied, including: the role and significance of networking in the conduct of business the contribution of culture to business acumen and entrepreneurialism human resource development constraints and issues technology transfer processes the utilisation and application of information technology by SMEs the impact of electronic commerce the policy framework needed to stimulate the growth of the SME sector. A common framework is adopted between the different studies, enabling substantive lessons to be derived and policy measures to be identified.The Role of SMEs in National Economies in East Asia will be of interest to academics and researchers of industrial organisation, Asian economics and Asian studies as well as policymakers concerned with SME growth in the area.Trade Review'The book deserves to be read by those who take an interest in industrial development and SMEs in the region. It provides good basic reading before executing more in-depth study into a particular country or sector.' -- Henry Sandee, ASEAN Economic BulletinTable of ContentsContents: 1. East Asian SMEs: Contemporary Issues and Developments – An Overview 2. Profile of SMEs and SME Issues in East Asia 3. China’s SMEs: Their Evolution and Future Prospects in an Evolving Market Economy 4. The Limping Tiger: Problems in Transition for Small and Medium Sized Enterprises in Vietnam 5. SMEs and the New Economy: Philippine Manufacturing in the 1990s 6. Old Policy Challenges for a New Administration: SMEs in Indonesia 7. An Overview of the Macroeconomic Contribution of Small and Medium Enterprises in Malaysia 8. Policies for SME Recovery in Thailand 9. Promoting SMEs in Korea: Government Response to the Asian Financial Crisis 10. Government Policies and Programs for Small and Medium Enterprises in Taiwan 11. Small and Medium Sized Enterprises in Australia 12. Japan: The Role of SMEs in the Mature Economy 13. Small and Medium Sized Enterprises in New Zealand 14. Small and Medium Enterprises in Singapore and the New Economy Index

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Book SynopsisTo deal effectively with transboundary environmental problems such as climate change, it is important to have an idea of the model for an 'efficient' and 'fair' policy. An understanding of the strategic interactions involved in the international decision-making process is also essential. Carsten Helm uses rigorous theoretical reasoning and applications to address these issues. The first part of the book contains a normative analysis based on fair division theory and welfare theory. The empirical focus is on burden sharing in the climate change regime, for which a concrete proposal is derived. The book then extends the perspective by taking into account the self-interest of sovereign states. Using cooperative game theory the potential for Pareto efficient cooperation is analysed. Finally, Carsten Helm applies non-cooperative game theory to analyse issues such as environmental and welfare effects of emissions trading, the misuse of scientific uncertainties as a bargaining tool and the effects of discontinuities in environmental systems on cooperation. This highly topical book will be of great interest to economists and political and environmental scientists, as well as all those involved in the policy and decision making of international environmental agreements.Trade Review'Helm's book is impressive for its combination of rigorous theory in real world contexts . . . highly recommended.' -- David Pearce, Environmental and Resource EconomicsTable of ContentsContents: Preface 1. Introduction Part I: International Policy in the Fairness Mode 2. An Axiomatic Approach to Fair Burden Sharing 3. A Welfarist Approach to Fair Burden Sharing Part II: International Policy in the Cooperative Mode 4. Environmental Cooperation as a Coalitional Game Part III: International Policy in the Non-Cooperative Mode 5. International Emissions Trading and the Choice of Allowances 6. Cooperation Behind the Veil of Scientific Uncertainty 7. Dynamic Aspects and Threshold Effects 8. Outlook Bibliography Index

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Book SynopsisWhile integration in the modern world economy is quite different to its counterpart in the last century, national borders are still extremely significant as trade barriers, and the international discussion of globalisation is paramount. This volume centres on two broad themes: the desirability, or otherwise, of globalisation and the practical mechanics of, and prospects for, increased multinational international trade liberalisation.Progress on competition policy issues are discussed along with the future of financial institutions, national policies, the scope of possible future expansion of the World Trade Organisation (WTO), and its dispute-settlement mechanism in light of recent trans-Atlantic disputes.With a diversity of opinions from contributors prominent in fields ranging from business and academia through to Non Governmental Organisations (NGOs) such as the WTO and the British Commonwealth, this is a fascinating look at globalisation and trade. Both foreign policy and economics academics will find this book invaluable, along with policymakers and NGOs.Trade Review'The essays are well written and thought-provoking.' -- John McCallum, Journal of Economic Literature'The book is a useful addition to the literature on integration and globalisation. . . It does go some way to challenge stereotypical ideas and thus it deserves to be read more widely than by specialists in foreign affairs and economics.' -- Mia Mikic, New Zealand Economic Papers'Although the book is mainly concerned with trade issues, an interesting chapter by New Zealand's Alex Sundakov assesses the role played by the World Bank in the provision of international finance and economic surveillance in recent decades. Although he concludes that they still play a valuable role, he shows that their role has not always been benign. In all, students of international economic relations will find this a useful, informative and yet non-technical volume on the subject of the global economy, which provides a balanced presentation of differing opinions about the subject of globalisation and the issues that it presents for policymakers at the start of the twenty-first century.' -- Nigel Grimwade, The Business Economics'A topical book that discusses the most important issues involved in proposals for further globalisation. Competition policy and the future of financial institutions, national policies and proposals for expansion of the World Trade Organisation are all treated very clearly.' -- Aslib Book Guide'Will the globalisation of the world economy create a new kind of global society in the new millennium, or will the competitive pressures unleashed by globalisation undermine social cohesion altogether? If nation states disintegrate, will internet traders and non-governmental pressure groups create a new kind of international political economy? These are just some of the "big issues" addressed in a rigorous fashion by the distinguished contributors to this important book.' -- Mark Casson, University of Reading, UKTable of ContentsContents: 1. Globalisation and International Trade Liberalisation 2. The Global Economy 3. Is Globalisation Today Really Different from Globalisation a Hundred Years Ago? 4. Balanced Growth 5. It’s a Small World After All 6. Globalisation and New Zealand 7. Competition Policies 8. Link Issues and the New Round 9. Multilateralism and Minilateralism 10. Multilateralism and the WTO 11. The WTOs Dispute Settlement Mechanism 12. The Future of International Financial Institutions 13. Polanyi Revisited 14. Rapporteur’s Report Index Contributors: M.D. Bordo, R. Deane, B. Eichengreen, T. Groser, T. Hazledine, J.F. Helliwell, D.A. Irwin, J. Kelsey, P. Lane, D. McKinnon, A.I. Mendelowitz, M. Moore, M. Richardson, D. Robertson, A. Sundakov, K.M. Vautier

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Book SynopsisThe international character of today's most pressing environmental problems has become a key challenge for environmental policy making. As regulation by a supranational authority is not a realistic option at present, policymakers have to rely on decentralized approaches to the management of international environmental resources.This study combines two core dimensions of international environmental policy: the traditional search for cost-effective policy instruments and the creation of incentives for voluntary cooperation among sovereign nations. The analysis offers some clear-cut policy recommendations for the design of environmental treaties and for the further development of existing international institutions to protect the global environment.Table of ContentsContents: Preface 1. Introduction 2. International Environmental Problems 3. Cost-effectiveness 4. Incentive Compatibility 5. Enforcement and Side Payments 6. Financing Incremental Abatement Costs under Asymmetric Information 7. Institutions for the Global Environment 8. Summary and Outlook Appendix Bibliography Index

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Book SynopsisThe degree of international financial integration achieved by capital flows remains a matter of debate. Furthermore, it evolves over time as markets become more and less integrated. Policymakers want to have a precise knowledge of the extent and direction of international capital flows because such flows influence the incentives for tax evasion, international redistribution and the vulnerability of the economy to external shocks. These volumes bring together a comprehensive selection of classic and contemporary readings on international financial integration. First, there is a review of the literature on measuring cross-border capital mobility followed by formal tests of the degree of international financial integration. Second, there is an examination of what factors actually determine the extent of cross-border capital mobility, and hence international financial integration. This authoritative collection will be invaluable for both students and specialists.Trade Review'Market integration, in Europe and elsewhere, is reshaping financial markets at the national and world level, with far-reaching implications for macroeconomic activity, corporate choices and household behavior. By bringing together the best articles on this issue, this book provides an essential reference, that will be of great service to policymakers and researchers alike.' -- Marco Pagano, Universita di Salerno, ItalyTable of ContentsContents: Volume I Acknowledgements Introduction Sylvester C.W. Eijffinger and Jan J.G. Lemmen PART I DEVIATIONS FROM INTEREST RATE PARITY 1. Jeffrey A. Frankel (1992), ‘Measuring International Capital Mobility: A Review’ 2. Jeffrey A. Frankel and Alan T. MacArthur (1988), ‘Political vs. Currency Premia in International Real Interest Differentials: A Study of Forward Rates for 24 Countries’ 3. Michael Mussa and Morris Goldstein (1993), ‘The Integration of World Capital Markets’ 4. Sylvester C.W. Eijffinger and Jan J.G. Lemmen (1995), ‘Money Market Integration in Europe’ 5. Helen Popper (1993), ‘Long-term Covered Interest Parity: Evidence from Currency Swaps’ 6. Philippe Bacchetta (1996), ‘Capital Controls and the Political Discount: The Spanish Experience in the Late 1980s’ 7. Barry Eichengreen, James Tobin and Charles Wyplosz (1995), ‘Two Cases for Sand in the Wheels of International Finance’ 8. Peter Garber and Mark P. Taylor (1995), ‘Sand in the Wheels of Foreign Exchange Markets: A Sceptical Note’ 9. Peter B. Kenen (1995), ‘Capital Controls, the EMS and EMU’ 10. Sebastian Edwards (1999), ‘How Effective are Capital Controls?’ PART II CORRELATIONS BETWEEN SAVINGS AND INVESTMENT 11. Martin Feldstein and Charles Horioka (1980), ‘Domestic Saving and International Capital Flows’ 12. Martin Feldstein (1983), ‘Domestic Saving and International Capital Movements in the Long Run and the Short Run’ 13. Michael Dooley, Jeffrey Frankel and Donald J. Mathieson (1987), ‘International Capital Mobility: What Do Saving-Investment Correlations Tell Us?’ 14. Peter J. Montiel (1994), ‘Capital Mobility in Developing Countries: Some Measurement Issues and Empirical Estimates’ 15. Tamim A. Bayoumi and Andrew K. Rose (1993), ‘Domestic Savings and Intra-national Capital Flows’ 16. Jan J.G. Lemmen and Sylvester C.W. Eijffinger (1995), ‘The Quantity Approach to Financial Integration: The Feldstein-Horioka Criterion Revisited’ 17. W. Jos Jansen (1996), ‘Estimating Saving-Investment Correlations: Evidence for OECD Countries Based on an Error Correction Model’ 18. Robert Krol (1996), ‘International Capital Mobility: Evidence from Panel Data’ 19. Atish R. Ghosh (1995), ‘International Capital Mobility Amongst the Major Industrialised Countries: Too Little or Too Much?’ 20. Jerry Coakley, Farida Kulasi and Ron Smith (1998), ‘The Feldstein-Horioka Puzzle and Capital Mobility: A Review’ 21. Philip R. Lane and Gian Maria Milesi-Ferretti (2001), ‘The External Wealth of Nations: Measures of Foreign Assets and Liabilities for Industrial and Developing Countries’ Name Index Volume II Acknowledgements An introduction by the editors to both volumes appears in Volume I PART I CROSS-COUNTRY CONSUMPTION GROWTH CORRELATIONS 1. Maurice Obstfeld (1986), ‘Capital Mobility in the World Economy: Theory and Measurement’ 2. Maurice Obstfeld (1989), ‘How Integrated are World Capital Markets? Some New Tests’ 3. Maurice Obstfeld (1994), ‘Are Industrial-country Consumption Risks Globally Diversified?’ 4. Tamim Bayoumi and Ronald MacDonald (1995), ‘Consumption, Income, and International Capital Market Integration’ 5. J.J.G. Lemmen and S.C.W. Eijffinger (1998), ‘Financial Integration in Europe: Evidence from Euler Equation Tests’ 6. Eric van Wincoop (1994), ‘Welfare Gains from International Risksharing’ 7. Karen K. Lewis (1996), ‘What Can Explain the Apparent Lack of International Consumption Risk Sharing?’ 8. Bent E. Sørensen and Oved Yosha (1998), ‘International Risk Sharing and European Monetary Unification’ PART II DETERMINANTS 9. George M. von Furstenberg (1998), ‘From Worldwide Capital Mobility to International Financial Integration: A Review Essay’ 10. Gerald A. Epstein and Juliet B. Schor (1992), ‘Structural Determinants and Economic Effects of Capital Controls in OECD Countries’ 11. Alberto Alesina, Vittorio Grilli and Gian Maria Milesi-Ferretti (1994), ‘The Political Economy of Capital Controls’ 12. Gian Maria Milesi-Ferretti (1998), ‘Why Capital Controls? Theory and Evidence’ 13. Jan J.G. Lemmen and Sylvester C.W. Eijffinger (1996), ‘The Fundamental Determinants of Financial Integration in the European Union’ 14. Maurice Obstfeld (1998), ‘The Global Capital Market: Benefactor or Menace?’ 15. Rafael La Porta, Florencio Lopez-de-Silanes, Andrei Shleifer and Robert W. Vishny (1997), ‘Legal Determinants of External Finance’ 16. Rafael La Porta, Florencio Lopez-de-Silanes, Andrei Shleifer and Robert W. Vishny (1998), ‘Law and Finance’ 17. Richard Portes, Hélène Rey and Yonghyup Oh (2001), ‘Information and Capital Flows: The Determinants of Transactions in Financial Assets’ 18. Mark Stephens (2000), ‘Convergence in European Mortgage Systems Before and After EMU’ Name Index

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Book SynopsisHow does Ricardian specialisation affect economic development in relatively advanced countries? Keld Laursen, inspired by the myriad newly-emergent neoclassical/new industrial economics contributions, makes a detailed study of the role of specialisation and structural change in advanced economies. Until now, these theoretical contributions have not been subjected to a systematic empirical investigation.The three key questions are: Do countries converge or diverge in terms of their specialisation patterns over time? Can the role of technology explain the direction of national trade specialisation? What are the implications of international specialisation patterns (and their changes) for economic growth? This study will be of immense interest to postgraduates and researchers working on theories and practices of innovation, trade, and growth.Trade Review'. . . the econometric skill shown here indicates that these authors are in the best position to introduce into mainstream economics some of the issues which have for long been debated in science and technology policy studies.' -- Daniele Archibugi, Research Policy'By exploiting newly available data sources, Keld Laursen's pioneering research makes a major empirical contribution to our understanding of the links between technology, structural change and economic growth in the world's industrially advanced countries. It also gives much needed historical perspective for current debates about the "new, knowledge-based" economy.' -- The late Keith Pavitt, formerly of SPRU - Science and Technology Policy Research, University of Sussex, UKTable of ContentsContents: Part I: Introduction 1. The Theme 2. A Survey of the Theoretical Literature on Trade and Growth 3. A Comparison of Measures of International Specialisation Part II: The Development of International Specialisation Patterns 4. Structural Change in OECD Export Specialisation Patterns: De-specialisation and ‘Stickiness’ 5. Do Export and Technological Specialisation Patterns Co-evolve in Terms of Convergence or Divergence? Part III: The Determinants of International Trade Specialisation 6. Horizontal Diversification as a Determinant of Specialisation: The Case of Denmark and Pharmaceuticals 7. Do Inter-sectoral Linkages Matter for International Export Specialisation? Part IV: The Effects of International Specialisation 8. The Impact of Technological Opportunity on the Dynamics of Trade Performance 9. Does Specialisation Matter for Growth? 10. How Structural Change Differs, and Why it Matters (for Economic Growth) Part V: Conclusion 11. Retrospect and Prospect References Index

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Book SynopsisIn the post-industrial network economy, international gateway regions are becoming increasingly important. These gateway regions are the nodes (defined as a city or a city region) that act as saddle points between a region and the global economy. While gateway regions have existed ever since inter-regional trade was first practised, new non-trade networks, and the wider global economy, have made these regions more complex. The book includes discussions of infrastructure networks such as the internet and air transport, as well as networking activities such as long-distance scientific cooperation, financial networks and direct investments. The contributors have expertise in fields such as regional economics, economic geography, institutional economics and business administration.The book offers in-depth analysis of both existing and developing gateway regions in three sections: North America Asia-Pacific Europe Economists and researchers with an interest in regions, the knowledge economy and institutions will find this book of great value. It will also be of interest to economic geographers, regional planners and development agencies.Trade Review'. . . great value as an introduction to an important area of research given the current emphasis on new theories explaining the spatial structure of the world economy.' -- Roger Vickerman, University of Kent, UKTable of ContentsContents: Preface Part I: Gateways to the Continents and the World Part II: North American Gateway Regions Part III: Asia-Pacific Gateway Regions Part IV: European Gateway Regions Index

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Book SynopsisIntangible assets are of growing importance to corporate competitiveness and economic performance. They include R&D, human capital, innovation in products and in organisation, trademarks and patents, networking and software. This path-breaking book provides a theoretical and empirical analysis of intangible investment and its effect on public policy in Europe.The authors find that the growing importance of intangibles is transforming the direction of public policies in Europe, particularly industrial, R&D, competition and trade policies. They conclude that government policies must recognise the fact that intangible investment is becoming the key element in bringing about durable growth and accord at least the same priority to intangible factors as to physical investment.This work should be essential reading for students interested in this new field of economic analysis, national and international policymakers, and industrialists involved in the non-physical economy.Trade Review'The book as a whole is a compelling study that follows a coherent structure and that might be of great help in the design of new European policies that would take into account the assimilation of knowledge and the management of other intangibles as main sources of competitiveness. The theoretical framework is well supported by the amount of empirical studies, and it could be perfectly stated that the effort made in this book constitutes an essential contribution to this new research field.' -- Marta Olea de Cardenas, The European Accounting ReviewTable of ContentsContents: Preface Foreword Part I: Intangibles: A General Framework Part II: Intangibles: Impact on Sectors and Enterprises Part III: Intangibles: Analysis of Inputs Index

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Book SynopsisThe global system has seen sweeping changes in recent years and this has precipitated a revival of interest in the relationship between Europe and Asia. This book examines the extent and nature of the regional linkages between East Asia and the European Union. Issues discussed include: the reactions and approaches of both regions to the Asian Crisis postcolonialism and the balance of power in Europe-Asia Relations trade relations between Europe and Asia and the revival of the Silk Road the development of the role of Asia-Europe Meetings.This book assesses the role of divergent cultural expectations, intellectual traditions and political concerns in assessing ways to develop and consolidate the political-economic, social-institutional and political-cultural linkages between the two regions. This multi-disciplinary work will appeal to scholars of globalization and regional economics, international studies and Asian and European Studies. Trade Review'This edited volume offers an important and much-needed contribution to our understanding of the complex inter-regional relationships between two of the global system's most important economic, political and cultural sub-systems. . . It takes the reader down a relatively unexplored road and the various contributions offer high scholarship and a sharp insight into the complex and problematic relationship. The studies establish sufficient grounds for the development of an agenda for continuing research in the field. It has an evident appeal for policymakers, academics, students and a wider interested public and, quite appropriately, it is already becoming a standard reference on the subject.' -- Neil Renwick, European Foreign Affairs Review'This thoughtful and well-researched volume is to be welcomed for adding new dimensions and perspectives to what is still a comparatively understudied theme, the growing linkages between Europe and Asia. The contributors ably demonstrate not only that the two regions are increasingly intertwined economically, politically, socially, and culturally, but that the dynamics of these exchanges contribute crucially to the discourse over regionalism and its place in the global system. Itself the product of interregional collaboration, this collection contributes in a stimulating and timely manner to the expanding debate over regions and their place in the global system.' -- Brian Bridges, Lingnan University, Hong KongTable of ContentsContents: Preface Part I: Introduction Part II: Setting up the Debate Part III: Europe–Asia Linkages Part IV: The Politics of Economic Linkages Part V: Conclusion Index

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Book SynopsisThe last two decades have seen a number of important developments in exchange rate economics, with substantial contributions to both its theory and empirics. While our understanding of exchange rates has significantly improved, a number of challenges and open questions in the exchange rate debate still remain. In these two volumes, the editors have brought together a selection of key articles which are representative of recent developments in the exchange rate economics literature. This important collection is essential for academic economists and practitioners interested in understanding and participating in the exchange rate debate.Trade Review'Sarno and Taylor have created a book that is sure to be in the library of all serious scholars of exchange rates. The authors are to be commended for distilling such a fine collection of major works from the voluminous literature on the subject.' -- Michael Melvin, Arizona State University, USTable of ContentsContents: Volume I Acknowledgements Preface Lucio Sarno and Mark P. Taylor Introduction Lucio Sarno and Mark P. Taylor PART I GROUNDWORK 1. Mark P. Taylor (1995), ‘The Economics of Exchange Rates’ PART II EXCHANGE RATE THEORY 2. Bernard Dumas (1992), ‘Dynamic Equilibrium and the Real Exchange Rate in a Spatially Separated World’ 3. Maurice Obstfeld and Kenneth Rogoff (1995), ‘Exchange Rate Dynamics Redux’ 4. Maurice Obstfeld and Kenneth Rogoff (2000), ‘New Directions for Stochastic Open Economy Models’ 5. Philip R. Lane (2001), ‘The New Open Economy Macroeconomics: A Survey’ PART III EMPIRICAL EXCHANGE RATE MODELLING AND TESTING 6. Charles Engel and James D. Hamilton (1990), ‘Long Swings in the Dollar: Are They in the Data and Do Markets Know It?’ 7. Marianne Baxter (1994), ‘Real Exchange Rates and Real Interest Differentials: Have We Missed the Business-Cycle Relationship?’ 8. Richard Clarida and Jordi Gali (1994), ‘Sources of Real Exchange-Rate Fluctuations: How Important Are Nominal Shocks?’ 9. Martin Eichenbaum and Charles L. Evans (1995), ‘Some Empirical Evidence on the Effects of Shocks to Monetary Policy on Exchange Rates’ 10. Robert P. Flood and Andrew K. Rose (1995), ‘Fixing Exchange Rates: A Virtual Quest for Fundamentals’ 11. David H. Papell (1997), ‘Cointegration and Exchange Rate Dynamics’ 12. Mark P. Taylor and David A. Peel (2000), ‘Nonlinear Adjustment, Long-run Equilibrium and Exchange Rate Fundamentals’ PART IV TARGET ZONES 13. Paul R. Krugman (1991), ‘Target Zones and Exchange Rate Dynamics’ 14. Robert P. Flood and Peter M. Garber (1991), ‘The Linkage between Speculative Attack and Target Zone Models of Exchange Rates’ 15. Marcus Miller and Paul Weller (1991), ‘Exchange Rate Bands with Price Inertia’ 16. Giuseppe Bertola and Ricardo J. Caballero (1992), ‘Target Zones and Realignments’ 17. Bernard Dumas and Lars E.O. Svensson (1994), ‘How Long Do Unilateral Target Zones Last?’ 18. Matteo Iannizzotto and Mark P. Taylor (1999), ‘The Target Zone Model, Non-linearity and Mean Reversion: Is the Honeymoon Really Over?’ PART V CURRENCY CRISES 19. Paul Krugman (1979), ‘A Model of Balance-of-Payments Crises’ 20. Maurice Obstfeld (1994), ‘The Logic of Currency Crises’ 21. Maurice Obstfeld (1996), ‘Models of Currency Crises with Self-fulfilling Features’ 22. Olivier Jeanne (1997), ‘Are Currency Crises Self-fulfilling? A Test’ 23. Robert Flood and Nancy Marion (1999), ‘Perspectives on the Recent Currency Crisis Literature’ 24. Lucio Sarno and Mark P. Taylor (1999), ‘Moral Hazard, Asset Price Bubbles, Capital Flows, and the East Asian Crisis: The First Tests’ Name Index Volume II Acknowledgements A preface and introduction by the editors to both volumes appears in Volume I PART I FOREIGN EXCHANGE MARKET EFFICIENCY, INTEREST RATE PARITIES AND RISK PREMIA 1. Geert Bekaert and Robert J. Hodrick (1992), ‘Characterizing Predictable Components in Excess Returns on Equity and Foreign Exchange Markets’ 2. Graham Elliott and Takatoshi Ito (1999), ‘Heterogeneous Expectations and Tests of Efficiency in the Yen/Dollar Forward Exchange Rate Market’ 3. Weike Hai, Nelson C. Mark and Yangru Wu (1997), ‘Understanding Spot and Forward Exchange Rate Regressions’ 4. Nelson C. Mark and Yangru Wu (1998), ‘Rethinking Deviations from Uncovered Interest Parity: The Role of Covariance Risk and Noise’ PART II EXCHANGE RATE PREDICTABILITY 5. Francis X. Diebold and James M. Nason (1990), ‘Nonparametric Exchange Rate Prediction?’ 6. Richard M. Levich and Lee R. Thomas III (1993), ‘The Significance of Technical Trading-Rule Profits in the Foreign Exchange Market: A Bootstrap Approach’ 7. Nelson C. Mark (1995), ‘Exchange Rates and Fundamentals: Evidence on Long-Horizon Predictability’ 8. Richard H. Clarida and Mark P. Taylor (1997), ‘The Term Structure of Forward Exchange Premiums and the Forecastability of Spot Exchange Rates: Correcting the Errors’ 9. Nelson C. Mark and Doo-Yull Choi (1997), ‘Real Exchange-Rate Prediction over Long Horizons’ PART III PURCHASING POWER PARITY AND REAL EXCHANGE RATE BEHAVIOUR 10. Kenneth Rogoff (1996), ‘The Purchasing Power Parity Puzzle’ 11. Francis X. Diebold, Steven Husted and Mark Rush (1991), ‘Real Exchange Rates under the Gold Standard’ 12. Charles Engel and John H. Rogers (1996), ‘How Wide is the Border?’ 13. James R. Lothian and Mark P. Taylor (1996), ‘Real Exchange Rate Behavior: The Recent Float from the Perspective of the Past Two Centuries’ 14. Mark P. Taylor and Lucio Sarno (1998), ‘The Behavior of Real Exchange Rates during the Post-Bretton Woods Period’ 15. Matthew B. Canzoneri, Robert E. Cumby and Behzad Diba (1999), ‘Relative Labor Productivity and the Real Exchange Rate in the Long Run: Evidence for a Panel of OECD Countries’ 16. Charles Engel (1999), ‘Accounting for U.S. Real Exchange Rate Changes’ 17. Yin-Wong Cheung and Kon S. Lai (2000), ‘On Cross-Country Differences in the Persistence of Real Exchange Rates’ PART IV THE MICROSTRUCTURE OF THE FOREIGN EXCHANGE MARKET 18. Jeffrey A. Frankel and Kenneth A. Froot (1990), ‘Chartists, Fundamentalists, and Trading in the Foreign Exchange Market’ 19. Robert F. Engle, Takatoshi Ito and Wen-Ling Lin (1990), ‘Meteor Showers or Heat Waves? Heteroskedastic Intra-daily Volatility in the Foreign Exchange Market’ 20. Menzie Chinn and Jeffrey Frankel (1994), ‘Patterns in Exchange Rate Forecasts for Twenty-five Currencies’ 21. Hendrik Bessembinder (1994), ‘Bid-Ask Spreads in the Interbank Foreign Exchange Markets’ 22. Philippe Jorion (1995), ‘Predicting Volatility in the Foreign Exchange Market’ 23. Richard K. Lyons (1995), ‘Tests of Microstructural Hypotheses in the Foreign Exchange Market’ 24. Richard K. Lyons (1997), ‘A Simultaneous Trade Model of the Foreign Exchange Hot Potato’ 25. Takatoshi Ito, Richard K. Lyons and Michael T. Melvin (1998), ‘Is There Private Information in the FX Market? The Tokyo Experiment’ Name Index

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Book SynopsisThis book presents an authoritative collection of the most important papers previously published by leading scholars in the field of trade policy and its reform.Included are sections on early contributions to the theory of reform, world welfare and trade reform, and reform with quotas and tariffs.Table of ContentsContents Acknowledgements Introduction Carsten Kowalczyk PART I EARLY CONTRIBUTIONS TO THE THEORY OF REFORM 1. W.J. Corlett and D.C. Hague (1953–54), ‘Complementarity and the Excess Burden of Taxation’ 2. J.E. Meade (1955), ‘The Second-Best Arrangement for Trade Control: (2) The Partial Freeing of Trade’ 3. J.E. Meade (1955), ‘The Partial Freeing of Trade: (1) Unilateral Tariff Reductions’ 4. S.A. Ozga (1955), ‘An Essay in the Theory of Tariffs’ 5. Jaroslav Vanek (1965), ‘Global Gains from Restricted Trade in a Two-Country World’ PART II DISTORTIONS: INCOME EFFECTS AND SUBSTITUTABILITY 6. Edward Foster and Hugo Sonnenschein (1970), ‘Price Distortion and Economic Welfare’ 7. Michael Bruno (1972), ‘Market Distortions and Gradual Reform’ 8. P.J. Lloyd (1974), ‘A More General Theory of Price Distortions in Open Economies’ 9. Avinash Dixit (1975), ‘Welfare Effects of Tax and Price Changes’ 10. Takashi Fukushima (1981), ‘A Dynamic Quantity Adjustment Process in a Small Open Economy, and Welfare Effects of Tariff Changes’ PART III RESULTS ON REFORM AND NATIONAL WELFARE 11. Trent J. Bertrand and Jaroslav Vanek (1971), ‘The Theory of Tariffs, Taxes, and Subsidies: Some Aspects of the Second Best’ 12. Tatsuo Hatta (1977), ‘A Recommendation for a Better Tariff Structure’ 13. Takashi Fukushima (1979), ‘Tariff Structure, Nontraded Goods and Theory of Piecemeal Policy Recommendations’ 14. John C. Beghin and Larry S. Karp (1992), ‘Piecemeal Trade Reform in Presence of Producer-Specific Domestic Subsidies’ 15. Ramón López and Arvind Panagariya (1992), ‘On the Theory of Piecemeal Tariff Reform: The Case of Pure Imported Intermediate Inputs’ PART IV WORLD WELFARE AND TRADE REFORM 16. Jaroslav Vanek (1964), ‘Unilateral Trade Liberalization and Global World Income’ 17. Tatsuo Hatta and Takashi Fukushima (1979), ‘The Welfare Effect of Tariff Rate Reductions in a Many Country World’ 18. Carsten Kowalczyk (1989), ‘Trade Negotiations and World Welfare’ 19. Takashi Fukushima and Namdoo Kim (1989), ‘Welfare Improving Tariff Changes’ 20. Michael Keen (1989), ‘Multilateral Tax and Tariff Reform’ PART V COALITIONS, WELFARE, AND TRADE REFORM 21. J.E. Meade (1955), ‘The Partial Freeing of Trade: (2) Discriminatory and Preferential Tariff Reductions’ 22. Carsten Kowalczyk (2000), ‘Welfare and Integration’ PART VI QUOTAS, TARIFFS, AND REFORM 23. W. Max Corden and Rodney E. Falvey (1985): ‘Quotas and the Second Best’ 24. Rodney E. Falvey (1988), ‘Tariffs, Quotas and Piecemeal Policy Reform’ 25. James E. Anderson and J. Peter Neary (1992), ‘Trade Reform with Quotas, Partial Rent Retention, and Tariffs’ PART VII REFORM WITH GOVERNMENT PRODUCTION AND REVENUE 26. Kenzo Abe (1992), ‘Tariff Reform in a Small Open Economy with Public Production’ 27. Rod Falvey (1994), ‘Revenue Enhancing Tariff Reform’ PART VIII REFORM IN MULTI-HOUSEHOLD ECONOMIES 28. Roger Guesnerie (1977), ‘On the Direction of Tax Reform’ 29. W.E. Diewert (1978), ‘Optimal Tax Perturbations’ 30. John A. Weymark (1979), ‘A Reconciliation of Recent Results in Optimal Taxation Theory’ 31. W.E. Diewert, A.H. Turunen-Red, and A.D. Woodland (1989), ‘Productivity- and Pareto-Improving Changes in Taxes and Tariffs’ 32. Arja H. Turunen-Red and Alan D. Woodland (1991), ‘Strict Pareto- Improving Multilateral Reforms of Tariffs’ Name Index

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Book SynopsisThis highly accessible book explains the theoretical, historical and political background of the North American Free Trade Agreement (NAFTA), its impact and the debates surrounding its existence. In addition the authors provide a brief introduction to the theory of economic integration as well as a succinct overview of the evolution of the global economy, and the institutions that manage it, in the post World War II period.Key issues examined include: how and why NAFTA emerged in the early 1990s and its performance since implementation the economic development and commercial policy of each member country in the context of the rapidly changing global economy NAFTA's technical strengths and limitations the debates which still rage between its proponents and critics The team of US, Canadian and Mexican authors argue that while NAFTA has introduced novel social and environmental innovations in trade agreements, given Mexico's macroeconomic volatility, it provides a less than perfect approach for managing North America's rapidly expanding economic integration.North American Economic Integration can be used by a wide audience from students to professionals and academics from any discipline with an understanding of the basic principles of economics. Specifically, the book will be welcomed by students of international economics, political economy and international relations.Trade Review'. . . excellent introduction and overview of developments leading up to the implementation of the North American Free Trade Act. Recommended for general readers and undergraduate students.' -- G.T. Potter, Choice'It is rare to find a book written by so many authors that reads as smoothly as this. What distinguishes this volume from other books on the reasons for NAFTA is its wider approach to the topic. Rather than simply focusing on the immediate reasons for the negotiation of NAFTA the authors place this agreement in a larger historical context. They review the evolution of the global economy in the postwar period as well as the specific industrial strategies of the NAFTA partners. A signal contribution of the book is the attention it gives to the analysis of international trade and the benefits of global and preferential trading arrangements.' -- Maureen Appel Molot, Carleton University, Canada'This is a first-rate text for undergraduate students because of the readable way the trilateral group of authors from Canada, Mexico and the US discuss the evolution of trade theory and then relate this to the development of trade policy in each of their countries and the process of trade integration in North America.' -- Sidney Weintraub, Centre for Strategic and International Studies, Washington DC, US'Thoroughly researched and lucidly written, this impressive book is not only a key reference source on NAFTA, but a definitive guide to emergent issues in trade policy.' -- Mark Casson, University of Reading, UKTable of ContentsContents: Preface Part I: Introduction 1. NAFTA in the Global Context 2. International Integration: Theory and Practice 3. The Global Economy after World War II Part II: Introduction 4. The United States after World War II 5. Canada’s Economic Development and Integration 6. Mexico’s Economic Development Part III: Introduction 7. North American Economic Integration: Trial by Fire 8. NAFTA and Beyond References Glossary Index

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Book SynopsisConcerns about European prospects for competitiveness, jobs and growth are high on the European Union agenda and regulatory reform, both at national and EU levels, is widely recognised as a crucial tool for improving the performance of European companies. Despite the single market, selective sectoral regulatory reform and certain reforms at the national level, regulation in Europe still tends to discourage new entrants, impede new production methods and inhibit the exit of existing competitors. It often increases costs without providing compensatory benefits, reduces operational flexibility and distorts capital expenditure, creating obstacles to innovation. The authors in this book argue that regulatory reform can, more often than not, help improve the competitiveness of companies while generating net growth effects for the European Union as a whole.In this book, the authors discuss the horizontal issues involved in regulatory reform. Following an extended introduction by the editors, two general chapters address regulation and growth, and the regulatory burdens and failures in Europe. Other chapters deal with national competition policy, state aid, EU environmental policy, reforms in product markets, labour market reforms, the regulatory environment of small and new firms, and the current, insufficient EU reforms to improve regulatory quality. Throughout the book the authors aim to demonstrate how the market can function more efficiently and offer policy recommendations to show how regulatory reform can improve competitiveness at the firm level as well as performance at the industry, national and EU levels.Table of ContentsContents: Preface 1. Introduction: Aims, Structure and Overview 2. Growth and Regulation 3. Regulation in Europe: Justified Burden or Costly Failure? 4. National Competition Policies 5. State Aid in Context 6. Environmental Policy Reform in the EU 7. Reforming Product Regulation in the EU: A Painstaking, Iterative Two-Level Game 8. The Economic Impact of Product Liability: Lessons from the US and the EU Experience 9. Regulation and Labour Market Performance 10. Deregulation and Labour Market Reforms: The Role of the Social Partners 11. Market Structure Dynamics and Economic Growth 12. Better EU Regulatory Quality: Assessing Current Initiatives and New Proposals

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Book SynopsisConcerns about European prospects for competitiveness, jobs and growth are high on the European Union agenda and regulatory reform, both at national and EU levels, is widely recognised as a crucial tool for improving the performance of European companies. Despite the single market, selective sectoral regulatory reform and certain reforms at the national level, regulation in Europe still tends to discourage new entrants, impede new production methods and inhibit the exit of existing competitors. It often increases costs without providing compensatory benefits, reduces operational flexibility and distorts capital expenditure, creating obstacles to innovation. The authors in this book argue that regulatory reform can, more often than not, help improve the competitiveness of companies while generating net growth effects for the European Union as a whole.In this second volume, the authors discuss the vertical issues involved in regulatory reform. The authors describe in detail the regulatory reforms which are needed or have been initiated in nine major industrial sectors, including automobiles, textiles and clothing, retail trade, chemicals, banking, road transport, telecoms, electricity and (scheduled) air transport.In the companion volume, Regulatory Reform and Competitiveness in Europe, 1: Horizontal Issues, the authors address regulation and growth, and the regulatory burdens and failures in Europe. The book also deals with national competition policy, state aids, EU environmental policy, reforms in product markets, labour market reforms, the regulatory environment of small and new firms, and the current, insufficient, EU reforms to improve regulatory quality.Table of ContentsContents: Preface 1. Introduction: Aims, Structure and Overview 2. Regulatory Reform for the Better Functioning of Markets: The Case of the Automobile Industry 3. Is the Suspect Guilty? Labour Market Effects of Trade Liberalisation in Textiles 4. Regulations and Retail Trade 5. The Chemical Industry and Regulation 6. Road Transport 7. Deregulation and Changes in the European Banking Industry 8. Regulation and Competition in Telecommunications 9. Regulatory Reform in the Electricity Industry 10. Some Structural Issues in Regulatory Reform and Market Functioning in the European Electricity Supply Industry 11. Air Transport Regulation in the EU

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Book SynopsisThe Political Economy of Monetary Union presents an important collection of the most influential articles covering different areas in this expanding field.The volume brings together both the classical articles which have laid the foundations for the theory of optimum currency and the resulting empirical literature. Further papers focus on the issues of fiscal policy, the design and operation of the central bank in a monetary union and the problems of transition to monetary union.This authoritative volume is essential reading for all scholars, students and practitioners interested in the issues relating to economic and monetary unification.Trade Review'The selection of readings prepared by Paul De Grauwe - himself an important contributor to the theory of monetary union - is a most timely and useful tool for teachers and students.' -- Giorgio Basevi, University of Bologna, ItalyTable of ContentsContents Acknowledgements Introduction Paul De Grauwe PART I THE THEORY OF OPTIMUM CURRENCY AREAS 1. Robert A. Mundell (1961), ‘A Theory of Optimum Currency Areas’ 2. Ronald I. McKinnon (1963), ‘Optimum Currency Areas’ 3. Peter B. Kenen (1969), ‘The Theory of Optimum Currency Areas: An Eclectic View’ 4. Paul Krugman (1993), ‘Lessons of Massachusetts for EMU’ 5. George S. Tavlas (1993) ‘The "New" Theory of Optimum Currency Areas’ 6. Tamim Bayoumi (1994), ‘A Formal Model of Optimum Currency Areas’ PART II EMPIRICAL ANALYSIS OF OPTIMUM CURRENCY AREAS 7. Tamim Bayoumi and Barry Eichengreen (1993), ‘Shocking Aspects of European Monetary Integration’ 8. Tamim Bayoumi and Barry Eichengreen (1997), ‘Ever Closer to Heaven? An Optimum-Currency-Area Index for European Countries’ 9. M.J. Artis and W. Zhang (1997), ‘International Business Cycles and the ERM: Is there a European Business Cycle?’ 10. Paul De Grauwe and Wim Vanhaverbeke (1993), ‘Is Europe an Optimum Currency Area?: Evidence from Regional Data’ 11. Jörg Decressin and Antonio Fatás (1995), ‘Regional Labour Market Dynamics in Europe’ 12. Charles Engel and John H. Rogers (1996), ‘How Wide is the Border?’ 13. Jeffrey A. Frankel and Andrew K. Rose (1998), ‘The Endogeneity of the Optimum Currency Area Criteria’ PART III FISCAL POLICIES IN A MONETARY UNION 14. Xavier Sala-i-Martín and Jeffrey Sachs (1992), ‘Fiscal Federalism and Optimum Currency Areas: Evidence for Europe from the United States’ 15. Jürgen von Hagen (1992), ‘Fiscal Arrangements in a Monetary Union. Evidence from the US’ 16. Willem Buiter, Giancarlo Corsetti and Nouriel Roubini (1993), ‘Excessive Deficits: Sense and Nonsense in the Treaty of Maastricht’ 17. Charles Wyplosz (1991), ‘Monetary Union and Fiscal Policy Discipline’ 18. Pierfederico Asdrubali, Bent E. Sørensen and Oved Yosha (1996), ‘Channels of Interstate Risk Sharing: United States 1963–1990’ PART IV THE CENTRAL BANK IN A MONETARY UNION 19. Jakob de Haan (1997), ‘The European Central Bank: Independence, Accountability and Strategy: A Review’ 20. Stephen G. Cecchetti (1999), ‘Legal Structure, Financial Structure, and the Monetary Policy Transmission Mechanism’ 21. Rudi Dornbusch, Carlo Favero and Francesco Giavazzi (1998), ‘Immediate Challenges for the European Central Bank’ PART V ISSUES OF TRANSITION TO MONETARY UNION 22. David Begg, Francesco Giavazzi, Jürgen von Hagen and Charles Wyplosz (1997), EMU: Getting the End-game Right 23. Roland Vaubel (1990), ‘Currency Competition and European Monetary Integration’ 24. Friedrich A. Hayek (1984), ‘The Theory of Currency Competition. I.1 The Future Unit of Value’ Name Index

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Book SynopsisThis authoritative collection presents the most important published articles on barter and countertrade from early scepticism to the recent sophisticated theoretical models and empirical evidence.The papers selected focus upon the policy and managerial implications of barter and countertrade and explain the reasoning behind these arrangements in an environment characterized by transaction difficulties. They demonstrate that appropriately designed transactional governance is crucial for the efficiency of successful trading relationships between different parties.The Economics of Barter and Countertrade is a timely collection due to the resurgence of barter and countertrade following the Russian and Asian financial crises. It is an essential reference source for those with an interest in trade and international economic relations.Trade Review'Countertrade is a more common phenomenon than many people realise, especially in East-West and North-South trade. Yet, superficially, countertrade is inefficient in comparison to monetary trade. The paradox of how an apparently inefficient trading mechanism can become so dominant attracted increasing theoretical interest in the 1970s and 1980s. The editors of this volume were amongst the intellectual leaders in the field. The literature on countertrade is quite diffuse, and the editors have performed a major service by bringing together the important contribution in a single volume. This will be an important source of reference for many years to come.' -- Mark Casson, University of Reading, UK'Mirus and Yeung have been pioneers in showing that countertrade is economically efficient. Here, a surprisingly large literature supports their insight. The papers use aspects of transaction cost economics to examine the efficiency aspects of countertrade.' -- Alan M. Rugman, University of Reading, UKTable of ContentsContents: Acknowledgements Introduction Rolf Mirus and Bernard Yeung PART I COUNTERTRADE: FORMS AND CHALLENGE OF THE CONVENTIONAL WISDOM 1. Robert E. Weigand (1980), ‘Barters and Buy-backs: Let Western Firms Beware!’ 2. Rolf Mirus and Bernard Yeung (1987), ‘Countertrade and Foreign Exchange Shortages: A Preliminary Assessment’ 3. Jean-François Hennart (1990), excerpt from ‘Some Empirical Dimensions of Countertrade’ PART II COUNTERTRADE AS SOLUTION TO TRANSACTIONAL DIFFICULTIES: EARLY ANALYTICAL LITERATURE 4. Peter Murrell (1982), ‘Product Quality, Market Signaling and the Development of East–West Trade’ 5. Bruce Kogut (1986), ‘On Designing Contracts to Guarantee Enforceability: Theory and Evidence from East–West Trade’ 6. Rolf Mirus and Bernard Yeung (1986), ‘Economic Incentives for Countertrade’ 7. Jean-François Hennart (1989), ‘The Transaction-cost Rationale for Countertrade’ PART III THE LITERATURE IN THE NINETIES: DOUBLE MORAL HAZARD, HOSTAGE EXCHANGE, AND QUANTITY STIPULATION 8. Dalia Marin and Monika Schnitzer (1995), ‘Tying Trade Flows: A Theory of Countertrade with Evidence’ 9. Dalia Marin and Monika Schnitzer (1998), ‘Economic Incentives and International Trade’ 10. Raissa Chan and Michael Hoy (1991), ‘East–West Joint Ventures and Buyback Contracts’ 11. Chong J. Choi and Daniel Maldoom (1992), ‘A Simple Model of Buybacks’ PART IV RISK SHARING 12. Erwin Amann and Dalia Marin (1994), ‘Risk-sharing in International Trade: An Analysis of Countertrade’ PART V PRICE DISCRIMINATION 13. Richard E. Caves (1974), ‘The Economics of Reciprocity: Theory and Evidence on Bilateral Trading Arrangements’ 14. Ellen Magenheim and Peter Murrell (1988), ‘How to Haggle and to Stay Firm: Barter as Hidden Price Discrimination’ 15. Richard E. Caves and Dalia Marin (1992), ‘Countertrade Transactions: Theory and Evidence’ PART VI POLICY IMPLICATIONS 16. Abla M. Abdel-Latif and Jeffrey B. Nugent (1994), ‘Countertrade as Trade Creation and Trade Diversion’ 17. Abla M. Abdel-Latif and Jeffrey B. Nugent (1993), ‘Countertrade, Licensing and Direct Foreign Investment: Comparative Effects on LDCS and MNES’ 18. Tore Ellingsen and Lars A. Stole (1996), ‘Mandated Countertrade as a Strategic Commitment’ PART VII MANAGERIAL ASPECTS 19. C.W. Neale, D. Shipley and P. Sercu (1992), ‘Motives for and the Management of Countertrade in Domestic Markets’ 20. Rolf Mirus and Bernard Yeung (1989), ‘Buy-back and Technology Transfer -Some Theoretical Considerations’ PART VIII DOMESTIC BARTER IN THE ABSENCE OF CREDIBLE FIAT MONEY 21. Joseph A. Ritter (1995), ‘The Transition from Barter to Fiat Money’ 22. Steve Williamson and Randall Wright (1994), ‘Barter and Monetary Exchange Under Private Information’ PART IX CONCLUSION 23. Rolf Mirus and Bernard Yeung (1993), ‘Why Countertrade? An Economic Perspective’ Name Index

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Book SynopsisThe 'third way' is a term often used by politicians and others to indicate a set of new policies adopted by former social democratic parties throughout the world. This book is an attempt to dissect the ideas and economic theory behind the rhetoric of the 'third way' through a critical evaluation of the experiences of 'third way' administrations in a diverse range of countries.The editors suggest seven elements which can help define the theoretical economic foundations of 'third way' policies. They consider whether there is a consistent economic approach underlying the 'third way', and show that it is much influenced by New Keynesian economics. The contributors to the book explore the policy experiences from ten different countries, plus the European Union as a whole. Each contribution provides an examination of the application and implementation of 'third way' policies in a different country. These contributions indicate the similarities of the policies of the 'third way', though important differences in experience also emerge. Providing an acute assessment and comprehensive interpretation of the 'third way', whilst neither endorsing nor dismissing its validity, this book should be widely read by policymakers, political scientists, and those with an interest in economic policy and economic analysis.Table of ContentsContents: 1. Economics of the ‘Third Way’: Introduction 2. The Third Sociological Way 3. European Employment Policies: A New Social Democratic Model for Europe? 4. Economics of the British New Labour: An Assessment 5. Anatomy of Clintonomics 6. Social Democratic Policy and Economic Reality: The Canadian Experience 7. The Third Way: Italian Experiments 8. Distribution and Growth: Can the New Left Deal with the Neo-Schumpeterian ‘Accord’? Some Comments on the French Experience 9. The Austrian Way: Economic and Social Partnership 10. The Economic Policy of the Spanish Socialist Governments: 1982–96 11. The Greek Experiment with the Third Way 12. South Africa: A Third Way in the Third World? 13. Coping with Globalisation: Australian Economic Policy and the Third Way Index

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Book SynopsisThis comprehensive volume provides an indispensable analysis of the development of agricultural policy in Western Europe and the United States.After providing a background to agricultural policy in the two regions, the authors focus on specific issues including: development policy and trade intervention up to 1930 a review of the major adjustments to agricultural policy in the world depression of the 1930s agricultural adjustment and trade interaction between 1940 and 1973, including the enlargement of the EC, the formation of CAP and the foundation of GATT< an examination of the growth in agricultural protection in the 1980s and the effects of the Uruguay Round of GATT negotiations on trade conflicts the EU's 1992 reform of CAP policy reforms in the 1990s in the US and Western Europe and the prospects for the future The book concludes that although there continue to be substantial differences in agricultural policy between the EU and the US, they are diminishing as a result of a fundamental similarity of the forces pushing for reform and the harmonizing effects of international negotiations.Trade Review'. . . this is probably the most balanced, informed and comprehensive treatment of US and Western European agricultural policy now in print. I would recommend it both as a reference and a text. . . It is well informed, well-executed and reasonably accessible to most students and interested readers, and deserves a wide audience.'Table of ContentsContents: Preface 1. Background to Agricultural Policy 2. History to 1930: Development Policy and Trade Intervention 3. The 1930s: Economic Crisis and Agricultural Support Policies 4. 1940–73: Agricultural Adjustment and Trade Interaction 5. 1973–1980s: Agricultural Expansion and the Rise of Trade Policy Issues 6. International Policy Adjustment 7. Policy Reforms in the 1990s and the Prospects for Further Adjustments Bibliography Index

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Book SynopsisThe impact of globalisation on social development is a critical issue for both developed and developing countries. In Globalisation and Social Development, leading experts investigate this from the perspective of European, and more specifically, Southeast Asian economies including Thailand, the Philippines and Vietnam. The contributors provide a well documented, multi-disciplinary analysis of the relationship between globalisation and social development in regions which, in the last two decades, have relied heavily on an outward looking development strategy and on attracting FDI, and which have been severely hit by the Asian crisis. In order to substantiate their analysis, the contributors include case studies of company relocation to Southeast Asia. The effects of globalisation on compliance with core labour standards in the Asia Pacific are also explored. Examining the complex link between globalisation and social development in Europe and Southeast Asia, Globalisation and Social Development will be welcomed by economists and social researchers with a specific interest in globalisation and Southeast Asian economies. Lecturers and scholars of international economics, international business and Asian business will also find the book to be of great interest.Trade Review'There is much to commend in this collection of papers to those interested in both globalization per se as well as those interested in economic and social development in South-east Asia.' -- David N. Ashton, Asia Pacific Business ReviewTable of ContentsContents: Globalisation and Social Development: An Introduction Part I: Europe 1. Globalisation and Wages in Industrial Countries 2. Globalisation, Employment and Wages 3. Globalisation and Relocation 4. Relocation from Industrial Countries to Asia Part II: Southeast Asia 5. ILO Fundamental Principles and Rights at Work in Asia Pacific 6. Economic Crisis, Social Development and Challenges for the Trade Unions 7. Relocation to Thailand 8. Social Development and Globalisation 9. Globalisation and Social Development in the Philippines 10. International Business Relocation to the Philippines 11. FDI, Economic Growth and Social Equality in Vietnam Since the Later 1980s 12. Globalisation and the Reform of the Financial System in Vietnam 13. A Comparison of Social Conditions in Local and Joint Venture Companies in Vietnam Index

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Book SynopsisThe Asian crisis that started in July 1997 wrought untold damages on a large number of countries worldwide and brought intolerable hardships and poverty to millions of people in Asia, and to a lesser extent in Russia and Latin America as well as the European Union. After more than three years of widespread economic, social and financial turmoil, there were signs in mid 2000 that a slow but promising economic recovery was on the way in Asia. This book explores in-depth the major issues and important aspects of this economic recovery and its potential impact on growth, development, trade and investment. Expert contributors also discuss the global directions in international economic and financial relations, corporate and public governance and the challenges to be met and managed in the 21st century.The Asian crisis, and its subsequent recovery, is a global experience and as such is one of the most challenging and important crises of our times. The Asia Recovery is a timely and valuable contribution that will be essential for those in government, business and academia to understand this crisis more fully.Trade Review'With a comprehensive background analysis and plethora of data, the book is an essential reading for those studying the Asian economy. The unique contribution of the book is that it attempts to expand beyond the main countries affected by the crisis, and considers its impact on the other, (lesser-developed) countries, mainly Viet Nam and China (PRC) . . . this book is highly recommended for the students of the Asian economy. With its wealth of information and data as its main strength, it should be an important reference source on the Asian economic studies for the years to come.' -- Jin W. Cyhn, The Journal of the Korean EconomyTable of ContentsContents: 1. The Asia Recovery 2. The Asia Recovery and Sustainable Development and Growth Part I: Major ASEAN and East Asian Economies 3. Structural Reform in Korea 4. Indonesia 5. Malaysia’s Recovery 6. The Philippines’ Economic Recovery Part II: Major Transition Economies in Asia 7. Vietnam 8. China 9. Can China Sustain Fast Economic Growth? A Perspective from Transition and Development 10. The Crisis of Success and Feedback Quality in Managing Economic Crisis 11. The Asia Recovery Index

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Book SynopsisEconomic integration, both within Asia and around the world, has had a major impact on the economies of the Asia-Pacific. NAFTA, the European Union, and ASEAN have determined the course of foreign direct investment, development, trade and policy making throughout the region. The editors of this volume have chosen 14 articles that best represent their work in this area over the past decade. They examine the major issues and future course of integration and offer recommendations for the future success of developing economies in an increasingly dependent world. The book is divided into three sections. The first offers the reader an overview of the chapters and an historical review of ASEAN integration. The second section considers the effects on Asian countries of regional integration in Europe and North America. The final section considers integration within the Asian economies themselves. Together, they reveal a complex and varied series of causes and effects. It also leads to three important policy conclusions that will need to be considered in charting the course of regional economic development in the twenty-first century.Researchers and students in Economics and international business and anyone interested in economic integration and Asian development will find this collection to be very useful.Table of ContentsContents: Part I: Introduction Part II: Effects of Economic Integration in Industrial Countries on Asia Part III: Economic Integration in Asia Index

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Book SynopsisThe twin benefits of improving environmental quality and reducing tax distortions through the recycling of environmental tax proceeds prove an attractive policy objective. This book analyses the use of the double dividend concepts for evaluating ecological tax reforms.The author aims to analyse unilateral environmental policy measures thoroughly and to assess under which conditions a double dividend can be achieved. The analysis is undertaken in the context of international capital mobility and cross-border externalities. He also includes a discussion of an empirically relevant example for an ecological tax reform scenario in Germany - the DIW proposal.International Environmental Externalities and the Double Dividend will be of great interest to all researchers and those working in NGOs in the areas of environmental economics, ecological tax reform issues as well as trade and the environment.Trade Review'Killinger provides a wonderful analysis of the welfare effects of unilateral ecological tax reforms, which should deepen and inform research in this area . . . researchers and students of environmental economic issues should find this book very useful in clarifying and extending the discussion regarding ecological tax reform.' -- Randall J. Hannum, Natural Resources Forum'In looking at the effects of ecological tax reform on allocation, this book addresses a very important issue. The results are interesting and have significant policy implications.' -- Glenn Feltham, Canadian Tax Journal'The book contains an excellent analysis of how environment taxation affects large countries that are highly integrated in world capital markets.' -- Lans Bovenberg, CPB Netherlands Bureau for Economic Policy Analysis, The NetherlandsTable of ContentsContents: 1. Introduction 2. The DIW Report: An Empirical Example 3. National Environmental Policies and International Integration 4. The Double Dividend of Ecological Tax Reforms 5. Indirect Internationalization and International Capital Mobility 6. Concluding Remarks Bibliography Index

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Book SynopsisChina is now among the top hosts for foreign direct investment (FDI) inflows in the world. This fact, combined with recent developments in internationalisation and economic growth in China, ensures a perfect opportunity to identify the determinants and impact of FDI in the largest transition economy in the world.Based on the latest official data, this book adopts a panel data approach to the analysis of the national and regional determinants of inward FDI in China and its impact on regional economic growth, labour productivity and international trade. The Chinese evidence shows that FDI, international trade and economic-growth are interrelated. This book will be welcomed by scholars of emerging economies, international business - especially those interested in FDI - and international trade as well as those specialising in the Chinese economy.Trade Review'. . . this is a well-researched volume. . .' -- Qi Luo, The China Quarterly'The data used is rich, including national, regional and industry-level statistics.' -- Yue Ma, The China Journal'Wei and Liu provide a comprehensive analysis of the determinants and impact of FDI on the economy of China. The book is to be recommended to students of international business for its elegant use of sophisticated econometric techniques and economic theory in exploring the role of FDI in a major emerging economy that hosts a substantial volume of FDI.' -- V.N.Balasubramanyam, Lancaster University, UKTable of ContentsContents: Preface 1. Introduction 2. Foreign Direct Investment in China: Development Trends and Impact 3. Country Characteristics and Foreign Direct Investment in China 4. The Regional Distribution of Foreign Direct Investment in China 5. Productivity Spillovers from Foreign Direct Investment in the Chinese Electronics Industry 6. Endogenous Growth Theory and Regional Income Convergence in China 7. Foreign Direct Investment and Trade Interactions in China 8. Conclusions References Index

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Book SynopsisDespite the disruption of the multilateral trade talks at Seattle in December 1999, the work of the World Trade Organization (WTO) continues. The trade and investment issues that have been outstanding since the Seattle events are explored in this far reaching book. The distinguished contributors combine several analytical approaches for a comprehensive assessment of the trends, problems and opportunities demanding attention in international trade negotiations.The authors discuss the principle items on the agenda for a renewed round of WTO talks, and also examine issues concerning the treatment of foreign direct investment, urging trade policymakers to adopt measures that will enhance flows of such investment, as these contribute to trade expansion. US, European and Japanese interests and perspectives are considered. The authors believe that cooperative management of international trade and investment issues could introduce greater harmony in the world trading system and overcome fears about the disruptive consequences of increased market openness. The self appointed roles of Non Government Organizations (NGOs) are examined, with emphasis on the primary responsibilities of governments as representatives of their nations.By bringing together the extensive results of research by economists, international management experts and political scientists, this book will be of immense worth to trade policymakers, policy research institutes, consulting firms, and academic communities. Of particular value will be the volume's discussions of international competition policy problems.Table of ContentsContents: Foreword Preface 1. The World Trade Organization and the International Political Economy 2. Institutional Development of the WTO 3. Agenda Setting for a Millennial Round: Challenges and Opportunities 4. Corporations and Structural Linkages in World Commerce 5. Triad Policy Interdependencies in the WTO 6. The USA in the WTO 7. The EU in the WTO 8. Japan in the WTO 9. Openness, Growth and Development: Trade and Investment Issues 10. Designing a Market Enhancing WTO 11. The World Trading System: Collective Management Potentials Index

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Book SynopsisThese two volumes survey the most important scholarly writings in economics and political science that explain the drivers and constraints to freer world trade. This authoritative collection, with contributions by leading academics, includes seminal studies that have changed the course of thinking about international trade over past centuries and considers both pro free trade and anti free trade arguments. Along with an original introduction, the editors have also selected a few non-academic pronouncements that have shaped popular views about free trade. This collection will be of immense value to anyone with an interest in the economics of free trade and will serve as an excellent reference source to students and academics. Table of ContentsContents: Volume I: Acknowledgements Introduction Gary Hufbauer and Kati Suominen PART I CLASSICAL ARGUMENTS A Mercantalism 1. Thomas Mun [1664] (1903), ‘The Particular Ways and Means to Encrease the Exportation of our Commodities, and to Decrease our Consumption of Forraign Means’ 2. David Hume (1752), ‘Of the Balance of Trade’ B Specialization, Comparative Advantage and Opportunity Cost 3. Adam Smith (1776), ‘Of the Division of Labour’ 4. David Ricardo (1817/1821), ‘On Foreign Trade’ 5. Gottfried von Haberler (1936), ‘The Transfer Problem’ C Free Trade Ideology 6. C.P. Kindleberger (1975), ‘The Rise of Free Trade in Western Europe, 1820–1875’ 7. Douglas A. Irwin (1996), ‘Conclusion: The Past and Future of Free Trade’ D Early Skeptics 8. Alexander Hamilton [1791] (1913), ‘The Facilitating of Pecuniary Remittances from Place to Place’ and ‘The Facilitating of the Transportation of Commodities’ 9. R. Torrens [1833] (1958), ‘Letter No. II: To the Editor of the Bolton Chronicle’ 10. Frank D. Graham (1923), ‘Some Aspects of Protection Further Considered’ 11. James Bristock Brigden (1929), ‘Introduction’ 12. John Maynard Keynes (1931), ‘Mitigation by Tariff’ PART II FACTOR PROPORTIONS AND OTHER MODELS A Factor Proportions 13. Bertil Ohlin (1933), ‘Some Fundamentals of International Trade’ 14. R. Dornbusch, S. Fischer and P.A. Samuelson (1977), ‘Comparative Advantage, Trade, and Payments in a Ricardian Model with a Continuum of Goods’ 15. Wassily Leontief (1953), ‘Domestic Production and Foreign Trade: The American Capital Position Re-examined’ 16. Robert Z. Lawrence (2008) ‘Wage Inequality and Trade’ B Investment, Technology and Strategic Trade 17. Stephen Herbert Hymer (1976), ‘The Theory of International Operations’ 18. Raymond Vernon (1966), ‘International Investment and International Trade in the Product Cycle’ 19. G.C. Hufbauer (1966), ‘Conclusions’ 20. Thomas Horst (1971), ‘The Theory of the Multinational Firm: Optimal Behavior under Different Tariff and Tax Rates’ C Scale Economies, Agglomeration and Fragmentation 21. Paul R. Krugman (1979), ‘Increasing Returns, Monopolistic Competition, and International Trade’ 22. Alan V. Deardorff (2001), ‘Fragmentation in Simple Trade Models’ D Services Trade 23. Sherry M. Stephenson (2002), ‘Regional versus Multilateral Liberalization of Services’ 24. Gene M. Grossman and Esteban Rossi-Hansberg (2008), ‘Trading Tasks: A Simple Theory of Offshoring’ 25. Bernard Hoekman, Aaditya Mattoo and André Sapir (2007), ‘The Political Economy of Services Trade Liberalization: A Case for International Regulatory Cooperation?’ 26. J. Bradford Jensen and Lori G. Kletzer (2008), ‘“Fear” and Offshoring: The Scope and Potential Impact of Imports and Exports of Services’ PART III TRADE FRICTIONS AND TRANSITION PAINS A Transaction Costs 27. John McCallum (1995), ‘National Borders Matter: Canada-U.S. Regional Trade Patterns’ 28. David Hummels, Jun Ishii and Kei-Mu Yi (2001), ‘The Nature and Growth of Vertical Specialization in World Trade’ 29. Antoni Estevadeordal, Brian Frantz and Alan M. Taylor (2003), ‘The Rise and Fall of World Trade, 1870–1939’ B Exchange Rates, Domestic Distortions and Adjustment Costs 30. J.E. Meade (1955), ‘The Case for Variable Exchange Rates’ 31. Jagdish Bhagwati and V.K. Ramaswami (1963), ‘Domestic Distortions, Tariffs and the Theory of Optimum Subsidy’ 32. Lori G. Kletzer (2001), ’Who Are Import-Competing Displaced Workers?’ and ‘Where Are Import-Competing Displaced Worked Reemployed?’ 33. Howard Rosen (2008), ‘Designing a National Strategy for Responding to Economic Dislocation’ Volume II Acknowledgements An Introduction to both volumes by the editors appears in Volume I PART I POLITICS AND INSTITUTIONS A Politics of Protectionism 1. Anne O. Krueger (1974), ‘The Political Economy of the Rent-Seeking Society’ 2. Edward John Ray (1981), ‘Tariff and Nontariff Barriers to Trade in the United States and Abroad’ 3. Gary S. Becker (1983), ‘A Theory of Competition Among Pressure Groups for Political Influence’ 4. Ronald Rogowski (1989), ‘Why Changing Exposure to Trade Should Affect Political Cleavages’ 5. Robert E. Baldwin and Christopher S. Magee (2000), ‘Is Trade Policy for Sale? Congressional Voting on Recent Trade Bills’ 6. Michael J. Hiscox (2001), ‘Class Versus Industry Cleavages: Inter-Industry Factor Mobility and the Politics of Trade’ B Forces of Liberalization 7. Douglass C. North (1981), ‘The Issues’ and ‘Structure and Change in the American Economy, 1789–1914’ 8. Mancur Olson (1982), ‘Jurisdictional Integration and Foreign Trade’ 9. I.M. Destler (2005), ‘The Root Problem: Political Imbalance’ and ‘The 1934 System: Protection for Congress’ C GATT and the WTO 10. Andrew K. Rose (2004), ‘Do We Really Know That the WTO Increases Trade?’ 11. Arvind Subramanian and Shang-Jin Wei (2007), ‘The WTO Promotes Trade, Strongly but Unevenly’ 12. Jeffrey J. Schott (2011), ‘The Future of the Multilateral Trading System in a Multi-Polar World’ D Preferential Trade Agreements 13. Jacob Viner (1950), ‘The Economics of Customs Unions’ 14. Jagdish Bhagwati (1993), ‘Regionalism and Multilateralism: An Overview’ 15. Kyle Bagwell and Robert W. Staiger (1999), ‘An Economic Theory of GATT’ 16. Richard E. Baldwin (1999), ‘A Domino Theory of Regionalism’ 17. C. Fred Bergsten (1996), ‘Competitive Liberalization and Global Free Trade: A Vision for the Early 21st Century’ PART II FREE TRADE, FASTER GROWTH? A Trade Advocates 18. Bela Balassa (1978), ‘Exports and Economic Growth: Further Evidence’ 19. Jeffrey D. Sachs and Andrew Warner (1995), ‘Economic Reform and the Process of Global Integration’ 20. Jeffrey A. Frankel and David Romer (1999), ‘Does Trade Cause Growth?’ 21. L. Alan Winters, Neil McCulloch and Andrew McKay (2004), ‘Trade Liberalization and Poverty: The Evidence so Far’ 22. Scott C. Bradford, Paul L.E. Grieco and Gary Clyde Hufbauer (2005), ‘The Payoff to America from Global Integration’ 23. Caroline Freund and Bineswaree Bolaky (2008), ‘Trade, Regulations, and Income’ B Modern Skeptics 24. Raúl Prebisch (1959), ‘Commercial Policy in the Underdeveloped Countries’ 25. Ross Perot and Pat Choate (1993), ‘A Giant Sucking Sound’ 26. Francisco Rodríguez and Dani Rodrik (2000), ‘Trade Policy and Economic Growth : A Skeptic's Guide to the Cross-National Evidence’ Name Index

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Book SynopsisTrade negotiations are complex interactive processes that bring a combination of existing trade law, the pleadings of special interests and economic theory together in the give and take of compromise, bluff and strategic alliances.Trade disputes involving food and other agricultural products - controversial subjects such as genetically modified foods and Creutzfeldt-Jakob disease - are the subject of newspaper headlines almost daily. As developing countries demand improved access to European and US markets for their products, international trade has moved into a new era and is now at the heart of trade negotiations.Economic Analysis for International Trade Negotiations provides an analytical framework in which to examine the complex economic issues which arise in international trade negotiations. This framework is developed using examples arising from current contentious issues in the international trade in agricultural products including market access, subsidies, non-tariff barriers, health regulations and biotechnology. The volume concludes with a discussion on the future of trade.Providing a link between economic theory and the WTO, this comprehensive volume will be of great interest to academics specialising in international trade, international relations, agri-business and international business.Trade Review'This book has much to commend itself to those interested in the intricacies of trade negotiations, particularly in agriculture.' -- Jaleel Ahmad, The Journal of International Trade and Economic Development'I believe the authors have the merit of providing a unique and useful textbook for an undergraduate class.' -- Giovanni Anania, European Review of Agricultural Economics'This book is well written and presented in an attractive style . . . deserves a place on the shelves of all serious students of agricultural trade negotiations and the functioning of the WTO.' -- Ken Ingersent, Journal of Agricultural Economics'. . . the book is welcome for bringing together and discussing much of the history and current issues surrounding the WTO and agriculture. Many of the arguments presented are particularly relevant to Australia and New Zealand. It is accessible compared with many other books addressing similar subject matter, and would be of value for a policy analyst who wishes to obtain a quick grasp of issues and theory behind some policy mechanisms. The book would also be useful as a supplementary text for a level two or three course in international trade.' -- Caroline Saunders, The Australian Journal of Agriculture and Resource Economics'This book provides an exceptionally lucid economic analysis of the benefits and losses - the gainers and the losers - from liberalization of international trade. The basic analysis is available to those with limited background in economics, with exceptionally clear use of graphic analysis to provide clear conclusions about the effects of increasing trade. The economic specialist also will find much of interest and value. Clear analyses of some of the very difficult issues facing a new round of trade negotiations, with special emphasis on genetically modified products, are presented. The authors make it clear that there are no easy answers to the conflicts that already exist or are likely to exist in the future with respect to such products. Labelling is a superior alternative to embargoes, but labelling may involve substantial costs for many food products and the costs could exceed reasonable estimates of the benefits. But with our present state of knowledge, the estimation of benefits is subject to great uncertainty. The probable negotiating positions of the major participants in a new round of negotiations are delineated with both clarity and fairness. It seems obvious that if the negotiations deal solely with agriculture that the prospects for success are limited; some liberalization of agricultural trade probably can occur only if the negotiations cover the full range of international trade. In negotiations on agricultural trade, governments give very little weight to the interests of the major beneficiaries of lowering trade barriers, namely the consumers.' -- D. Gale Johnson, University of Chicago, USTable of ContentsContents: Preface 1. Introduction to the Issues 2. Modelling Trade for Policy Analysis 3. Unfinished Business 4. New Challenges 5. Trade in the 21st Century References Index

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Book SynopsisThe WTO has laid the foundations for a new era of trade relations, and increased trade liberalization has improved global efficiency in production and consumption. The strengthening of trade rules, however, has increased the scope for disputes over interpretations of more extensive and complicated agreements, and has spilt over into environmental and scientific matters. One of the unforeseen consequences of the WTO agreements has been controversy over risk. This volume explores aspects of risk with special reference to the WTO, where national instruments to reduce risk may conflict with international trade rules.The book is divided into sections dealing with: accounting for risk in trade agreements risk and the WTO managing risk in policy making negotiating experience with risk national risks and quarantine standards managing biotechnology. The chapters offer many perspectives on risk assessment and benefit from a rich diversity of approaches as befits contributions from authors with backgrounds in law, economics, political science and environmental and natural science as well as policy making.Globalization and the Environmentis a fascinating book that will draw its readership from these fields.Trade Review'There are two good reasons to read Robertson and Kellow's book on the WTO. First, the book offers a unique opportunity to get an inside, to learn how the WTO itself conceives of its role in environmental matters and of the criticism put forward by the anti-globalization movement. Secondly, individual chapters in the book extensively deal with topics relevant to international environmental negotiations from a WTO perspective: the role of risk in multi-lateral environmental agreements, risk communication and biotechnology, and GM food and global trade.' -- Hein-Anton van der Heijden, Environment Politics'As becomes clearer each day, the new global trade regime of the WTO is radically different in fundamental respects from its predecessor, the GATT. This book presents a most intriguing and innovative perspective on a cross-cutting issue of increasing importance: risk assessment. How will risk assessment and risk management affect the evolution of the multilateral rules-based system? Read this book and start thinking about it.' -- Sylvia Ostry, University of Toronto and Munk Centre for International Studies, CanadaTable of ContentsContents: Preface Part I: Risk and the WTO Part II: Managing Risk in Policy Making Part III: Negotiating Experience with Risk Part IV: National Risks and Quarantine Standards Part V: Managing Biotechnology Part VI: Concluding Summary Appendix Index

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Book SynopsisThis book is the first in English to comprehensively examine the French economy and how it is adjusting to the exigencies of an increasingly globalized environment. The opening of the French market to international competition has forced recent governments to realize that the old closed model in which France had considerable autonomy over policy is no longer valid. French solutions to domestic problems had to be given up in the early 1980s. Changes in technology have had dramatic impacts on the comparative advantage of French producers and the necessary restructuring has been far from easy. These twin aspects of globalization have also altered the situation of France's various regions and urban economies and the highly centralized structure has come under pressure. This has forced a change in the thinking of French public and private sector leaders. The role of the state, the degree of intervention, the extent of control over the domestic economy, and the need to be accommodative to market forces have all been subject to public debate and to fundamental reconsideration. While this is a book on the French economy, Kresl and Gallais deal with issues, challenges, and processes of change and adaptation that are facing all of Europe, and indeed all industrialized economies. Economists, political scientists, business scholars and anyone interested in globalization will find this comprehensive study engaging and topical.Trade Review'There is much of interest here, and the authors provide background information and digressions that make their analysis more accessible to noneconomists.' -- M. Veseth, ChoiceTable of ContentsContents: Preface 1. France Encounters Globalization 2. The French Economy since the Second World War 3. The Role of the State in the French Economy 4. France’s External Economic Relations 5. Employment, and Incomes 6. Economic Structure, Restructuring and Development of Output 7. Decentralization: Regions and Cities 8. Prospects for the French Economy References Index

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Book SynopsisThis book aims to integrate the notions of contagion in epidemiology and contagion in financial market crises to discover why emerging markets are so susceptible to financial crises. The author first provides a brief introduction of the contagious spill-over of recent financial market crises and models the pattern of these crises. He finds that the contagion between crises in emerging markets, such as that of the crises in Russia and Brazil in 1998-1999, is explicable, despite the fact that at first sight they appear to have little in common. Finally, Friedrich Sell integrates these findings to outline a proposal for a 'new international financial architecture'.This groundbreaking book will be of interest to scholars of financial economics, emerging economies and international money and finance.Table of ContentsContents: Foreword 1. Introduction 2. Contagious Financial Crises in Economic History and in the Recent Past 3. Explaining the Onset of Financial Market Crises in Emerging Markets 4. ‘Contagion’: What is it and Who is Susceptible to it? 5. A Simple Model of Contagious Financial Crises 6. The New International Financial Architecture 7. Final Remarks Bibliography Index

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Book SynopsisCompetitiveness is one of the key themes in the current debate about national economic performance. A vast array of statistical data is usually assembled by national governments to demonstrate a closing or widening of productivity or trade 'gaps' with other countries or groups of countries. The authors of this book argue that far too little attention has been paid to the often subtle, but highly significant, organisational and cultural characteristics which underpin production and trade in a globalised economy. Dimensions of Competitiveness suggests that awareness of the impacts of this neglected dimension of competitiveness can, together with appropriate corrective action, significantly improve corporate and national performance.While considering a variety of more conventional dimensions of international competitiveness, the authors challenge many established tenets. A number of policy prescriptions are outlined as a result. Attention is also paid to some of the key distributive and infrastructural roles in enhancing international competitiveness including facilitating labour and capital mobility and providing efficient transport systems.Trade Review'It can be seen that this well-produced book covers a big field and there will be something in it to interest most economists.' -- Graham Bannock, The Business Economist'This collection makes a considerable step beyond the theories of Ricardo and Krugman, probing the nitty-gritty of international competitiveness and its underlying determinants at the organisational level.' -- F.M. Scherer, Harvard University and Princeton University, US'Competitiveness is much discussed, but little understood. Scholarly empirical research on the topic is surprisingly rare. Understanding the connection between national culture, human resource management, industrial policy and the other dimensions of competitiveness requires an interdisciplinary perspective. Here at last is a good interdisciplinary collection of papers which provides significant insights into the determinants of national competitiveness within the modern global economy.' -- Mark Casson, University of Reading, UKTable of ContentsContents: Preface by Ross E. Catterall Introduction: Conceptual Issues and International Competitiveness Part I: Organisational and Cross-Cultural Issues in International Competitiveness Part II: Financial, Productive and Distributive Issues in International Competitiveness Bibliography Index

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

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Book SynopsisThis highly topical book examines the development and future prospects for economic and monetary union in Europe. European Monetary Integration examines the background to economic and monetary union from a historical perspective that distinguishes between national and supranational currency areas, and an optimal currency area theory. The gradualist transition process is also considered. The authors, leading academics from five European countries, consider the principal economic policies to be followed in achieving economic and monetary union. The role of the European central banks and monetary policy is examined, along with fiscal policy in monetary union and the operation and policies of the labour markets. The authors discuss the economic relationships between the euro area and other European economies including the transition and accession economies of Eastern Europe.Trade Review'In European Monetary Integration, the editors E.J. Pentecost and A. van Poeck, put together a series of papers that provide a useful overview of the continuing efforts by the European Union to establish, maintain, and extend a common European currency. The editors have done well in presenting analyses that cover the past of the system before addressing the current and future issues . . . European Monetary Integration presents a series of informative papers that provide well-balanced expositions of empirical material and analyses. The collection is quite appropriate for an audience with less-profound knowledge of the issues.' -- Antony P. Mueller, Journal of Markets & Morality'This book is an excellent contribution to the understanding of the past, present and future of the European monetary integration . . . This book is written in a very pedagogical manner and should be part of the literature for graduate and undergraduate students of monetary economics.' -- Estela Bee Dagum, Recensioni e Segnalazioni BibliograficheTable of ContentsContents: Preface 1. The Historical Background to European Monetary Union Part I: EMU: The Past, 1979–99 2. The Political Economy of Transition to Monetary Union in Western Europe 3. German Monetary Unification and its Implications for EMU 4. The Theory of Monetary Union and EMU Part II: Present Issues for EMU 5. Monetary Policy in EMU 6. Fiscal Policy in EMU 7. EMU and European Unemployment Part III: The Future: Beyond 2000 8. ERM-II: Problems for the ‘Outs’ and their Relationship with the ‘Ins’ 9. Exchange Rate Strategies of New EU Entrants 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 SynopsisOne of the major effects of the continual process of European integration is the growing importance of transnational institutions and the accompanying legal harmonization. Such institutional changes have led to a seemingly irreversible transformation in public decision making, whereby power at the national level is displaced to the European and regional levels. This essential book provides a law and economics analysis of the challenges arising from these shifts in authority.The process of harmonization is investigated from a normative point of view, in order to examine whether a uniform legal framework should be promoted. On the positive side, the goal is to assess the efficiency of this process and its impact on public policies. The authors then turn to applied issues and propose an agenda for future research. The book comprehensively covers both private and public law, as well as applied and theoretical issues. The authors analyse the legal debate from a new political economy perspective, offering diverse and sometimes contrasting views.The Economics of Harmonizing European Law highlights the debate between competition and harmonization which will be sure to shape the future of Europe. It should be read by students and scholars of law and economics, and European policymakers. It will also provide a valuable reference in the field of law harmonization for law practitioners.Table of ContentsContents Preface Introduction: The economics of the constitutional moment in Europe Jean-Michel Josselin and Alain Marciano PART ONE COMPETITION AND HARMONIZATION 1 Regulatory competition or harmonization of laws? Guidelines for the European regulator Roger Van den Bergh 2 How to predict the differences in uniformity between different areas of a future European private law? An evolutionary approach Jan M. Smits 3 Legal culture as (natural?) monopoly Anthony Ogus 4 Judicial competition, legal innovation and European integration: an economic analysis Sophie Harnay and Isabelle Vigouroux PART TWO HARMONIZATION IN PRACTICE 5 European Union and public utility: a virtuous grouping? Lessons from the reorganization of Corsican external transport Thierry Garcia and Xavier Peraldi 6 The economics of harmonizing law enforcement Nuno Garoupa 7 Product liability and product safety in a federal system: economic reflections on the proper role of Europe Michael G. Faure 8 Vocational qualifications and the European labour market: the challenges and the prospects Jean-Baptiste Calendini and Christophe Storaï 9 Decentralized interregional cooperation in Europe Sylvie Graziani and Michel Rombaldi PART THREE COMPETITIVE DEMOCRACY AND THE FUTURE OF EUROPE 10 A Europe of variety, not harmonization Bruno S. Frey 11 Enlargement of the European Union and the Approximation of Law: lessons from an economic theory of optimal legal areas Dieter Schmidtchen, Alexander Neunzig and Hans-Jörg Schmidt-Trenz 12 Legal and economic principles for the common administrative law in Europe Jürgen G. Backhaus Index

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Book SynopsisThis book provides one of the first interdisciplinary reviews of the relationship between services, globalisation and trade liberalisation as we enter the twenty-first century. Written by academics and policymakers, it contains a detailed analysis of the characteristics of service trade and of recent and current service trade negotiations. The authors focus on exploring the complex relationship between the process of globalisation and the globalisation of services taking into consideration service trade negotiations. Many service functions reduce the relative distance between places and more importantly enable the process of globalisation. The globalisation of service functions is complex. Services are different from goods as they depend on human capital (embodied knowledge and reputations) and have to be localized to meet specific cultural and political requirements. The General Agreement on Trade in Services (GATS) needs to be informed by an understanding of the differences that exist between goods and services as well as by the processes by which services globalise. The GATS has to be more than just about quantitative-based policies but also has to explore national regulations that inhibit trade in services. This book will be of special interest to economists, geographers and policymakers with a specific involvement in service trade and trade liberalization.Trade Review'Globalisation is a new phenomenon in our economic history. The way our service economy responds to this mega trend is largely unknown. This volume brings together a unique collection of original studies on trading services in a global economy. They all open up new horizons of refreshing insights in a complex phenomenon.' -- Peter Nijkamp, VU University Amsterdam, The Netherlands'This is an outstanding compilation of new materials by some of the leading authors in this field. They demonstrate fundamental understanding of the issues and provide a penetrating perspective that can only be fully appreciated by those with a global viewpoint.' -- Kingsley E. Haynes, George Mason University, USTable of ContentsFull Contents: Preface 1. The Relationship between Services and Globalisation Part I: Globalisation and Services: Concepts and Trends 2. Services in the Age of Globalisation: Explanatory Interrelations and Dimensions 3. The Globalisation of Services in Economic Theory and Economic Practice: Some Conceptual Issues 4. A Comparative Approach to the Internationalisation of Service Industries Part II: Global Trade, Global Investment and Global Management 5. EU Service Trade, with Particular Reference to Business and Professional Services 6. Transaction Modes and the Internationalisation of Business Service Firms in the Haute-Garonne 7. Internationalisation of Commercial Activities: Some Recent Theoretical Contributions and Empirical Evidence 8. ‘Trading’ Business Knowledge between Countries: Consultants and the Diffusion of Management Knowledge Part III: The Liberalisation of Service Trade – The GATS 9. Services Trade and Globalisation: Governmental Services and Public Policy Concerns 10. The Liberalisation of International Trade in Services: Issues of Competence and Legitimacy for the GATS – and the Impact of its Rules on Institutions 11. GATS 2000: The Issues at Stake, An EC Perspective 12. An American Policy Perspective on Service Trade: The Views of the Coalition of Service Industries on the United States Negotiating Objectives for Services at the Seattle WTO 13. Developing Countries and the GATS 2000 Round 14. A Real Single Market for Services? Index

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Book SynopsisTaiwan has become a significant player on the world stage in many areas and has developed a distinct international profile and influence. Its pro-active foreign policy firmly reminds the world of a new political entity's achievement, aspirations and unfulfilled ambitions. This pioneering book discusses Taiwan's pragmatic diplomacy as a way of seeking legitimacy, survival and development for a burgeoning nation-state, against the dynamic changes in domestic and international scenes and tumultuous relations with China. With special reference to Taiwan's relations with Southeast Asia, a key region in Taiwan's international linkages, the book investigates three major pillars sustaining Taipei's unorthodox diplomacy. These three pillars are: Taiwan's investment and trade prowess, and the global networks built by its business elite; its special relations with global ethnic Chinese communities; and transnational activism of Taiwan's political, social and religious groups, in a so-called 'total diplomacy'.Political Scientists, students and international policy makers along with anyone interested in the changing role of China and Taiwan on the world stage will find this book lively and informative.Trade Review'The title of this book does not do it justice, for the book ranges far beyond Taiwan's diplomacy in Southeast Asia. The most authoritative book published to date on Taiwan's foreign policy (1949 to 2000), it covers Taiwan's foreign relations and diplomacy with Western developed states, the states of Africa and Latin America, Japan, the People's Republic of China, and the countries of Southeast Asia. Based on Chinese and English sources as well as personal interviews and correspondence, Chen Jie presents a wide-ranging, comprehensive view of Taiwan's efforts to gain greater international recognition. . . . Combining impressive scholarship with interesting analysis, Chen Jie presents new ways of understanding why Taiwan acts the way it does and sprinkles the explanations with wry humor. . . . All in all, a tour de force. Summing Up: Essential.'<BR>- S. Ogden, ChoiceTable of ContentsContents: Foreword by J. Bruce Jacobs Introduction 1. Foreign Policy of Taiwan Since Lee Teng-hui: Debut of a New Entity 2. Taiwan’s Relations with the ASEAN Countries: An Overview 3. Taipei’s Economic Diplomacy: A Demystifying Critique 4. Qiaowu: Kuomintang’s Historical Cross as New Taiwan’s Asset 5. ‘Total Diplomacy’: Parliamentarians, Parties, and NGOs References Index

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Book SynopsisGlobalizing Europe examines the involvement of the European Union in the deepening integration that results as trade and transnational production link markets and economic systems across the world. This process is posing a unique challenge to European decision-makers to implement measures that will maximize the benefits and reduce the costs of globalization. As Europe expands and becomes more integrated it is being obliged to assume greater control over the development of its external economic relations. To effect this, the authors propose that member states play a more active and constructive role in the global political economy. They advocate the planning and implementation of major initiatives that could ensure greater stability in the world economy. Because of the magnitude of the economic bonds developing between the EU and the USA, special attention is paid to the trends and issues associated with the evolution of Atlantic relations. One of the greatest challenges the authors highlight, and a theme implicit throughout the book, is that the EU's external problems may receive inadequate attention due to the complexities of its decision processes. EU-level decision-making may become more introspective, rather than global, in outlook.Combining firm, industry, regional and country levels of analysis with the diverse and provocative views of the authors, this book will be essential reading for scholars of international economics, international political economy, and international business and finance.Trade Review'The contributors to this volume are internationally recognised scholars in the field. The result is an extremely comprehensive and authoritative assessment of European integration, particularly from an economic-political perspective.' -- Economic Outlook and Business ReviewTable of ContentsContents: Preface Introduction 1. The European Union in the Global Economy at the Millennium 2. Globalizing Europe: The Overall Picture 3. Specialization Matters, and so does Technological Accumulation: The Case of Europe 4. Mergers and Acquisitions in Globalizing Europe 5. Corporate Restructuring, Corporate Strategy and European Integration 6. European Welfare States: Regionalization, Globalization and Policy Change 7. The EU in World Finance 8. The Changing Nature and Determinants of EU Trade Policies 9. Macroeconomic Management in the European Union 10. European Macroeconomic Policy Interdependencies 11. European Union Planning for International Economic Cooperation Index

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Book SynopsisThe events in Seattle and other cities around the world demonstrate that globalisation and trade liberalisation are currently under severe pressure. There are also reasons to believe that these pressures are being translated into measures to increase the protection of domestic markets. This book addresses what are arguably the four most important origins of these pressures: macroeconomic conditions, labour policy, trade and the environment, and market imperfections.The authors first address the role of macroeconomic conditions and policies, and demonstrate how these can have a crucial role in explaining 'slippages' of trade policy. The second origin of instability is labour policy, in particular the pressures to introduce universal labour standards. The third economic origin the book considers is the relationship between trade and the environment and the attempts to link trade policies to environmental standards. The fourth origin of protectionist pressure comes from the presence of various market imperfections and the extent to which they affect competition. The authors conclude that multilateral agreements can be extremely helpful in creating the right environment for equitable trade policies, but warn that complete success can only be achieved once major hurdles are overcome in the highly controversial and politically sensitive areas of labour, environment and competition.Offering a unique perspective on the threat to globalisation, this book should be widely read by students, practitioners and policymakers in the spheres of international trade, transition and development studies, and competition, labour and environmental economics.Table of ContentsContents: Preface and Acknowledgements Introduction: The Stability of Trade Policy and Multilateral Agreements Part I: Trade and Macroeconomic Policy 1. Exchange Rate Overvaluation and Trade Protection: Lessons from Experience 2. Macroeconomic Conditions and Import Surcharges in Selected Transition Economies Part II: Trade and Labour 3. Trade-Labour Link: A Post-Seattle Analysis 4. Paved with Good Intentions: Social Dumping and Raising Labour Standards in Developing Countries Part III: Trade, Environment and Competition 5. Reforming Environmental Policy: Harmonisation and the Limitation of Diverging Environmental Policies 6. The Relationship Between International Trade Policy and Competition Policy Part IV: Multilateral Agreements 7. European Lessons for Multilateral Economic Integration: A Cautionary Tale Index

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Book SynopsisWhile characteristically 'Austrian' themes such as entrepreneurship, economic calculation, tacit knowledge and the temporal structure of capital are clearly relevant to the business firm, Austrian economists have said relatively little about management, organization, and strategy. This innovative book features 12 chapters that all seek to advance the understanding of these issues by drawing on Austrian ideas. Building on existing research in transaction cost economics, agency theory, evolutionary economics and the resource-based theory of the firm, the authors cover a wide range of theoretical and applied topics. These include knowledge management, authority and hierarchy, modularity, corporate restructuring, telecommunications regulation and competitive advantage. They clearly show how Austrian ideas can usefully engage, challenge and extend more mainstream perspectives on economic organization. There are many books on Austrian economics and many more on the theory of the firm, but virtually none that integrate these two bodies of literature. Scholars of Austrian economics and academics interested in strategy, organization and the theory of the firm will draw great value from this insightful book.Trade Review'This volume is a positive contribution to Austrian economics. . . The contributors cast new light on problems that were not considered from the outset as genuine to Austrian economics: this includes theoretical problems, such as property rights, learning, and incentives, as well as empirical, and perhaps more exotic problems from an Austrian point of view, such as corporate governance and industrial organization.' -- Jacques-Laurent Ravix, Journal of Evolutionary Economics'. . . a very interesting book which goes a considerable way towards linking economic analysis of the firm with empirical study of business decisions and with ideas which have been discussed in studies of business policy and management. . . This is a book which calls for, and repays, careful reading.' -- A.L. Minkes, International Journal of Management and Decision Making'This is a most informative book for both the non-specialist and specialist alike. The non-specialist can get a feel for the literature on the entrepreneur whilst the specialist is given some significant ideas that will move forward the debate as to what contributions Austrians can make in the area of the theory of the firm, particularly with a capabilities approach.' -- David Gray, International Journal of Entrepreneurship and Innovation'For researchers interested in Austrian economics and those interested in the theory of the firm the book gives a valuable summary of what can be derived from the Austrian approach to the theory of the firm.' -- Helge Peukert, European Business Organization Law ReviewTable of ContentsContents: Introduction – Entrepreneurship and the Firm: Austrian Perspectives on Economic Organization Nicolai J. Foss and Peter G. Klein 1. Explaining Firms Brian J. Loasby 2. Modularity in Technology and Organization Richard N. Langlois 3. Economic Organization in the Knowledge Economy: An Austrian Perspective Nicolai J. Foss 4. Knowledge: A Challenge for the Austrian Theory of the Firm Pierre Garrouste 5. Schumpeter’s and Kirzner’s Entrepreneur Reconsidered: Corporate Entrepreneurship, Subjectivism and the Need for a Theory of the Firm Wolfgang Gick 6. Economic Organization and the Trade-offs between Productive and Destructive Entrepreneurship Kirsten Foss and Nicolai J. Foss 7. Entrepreneurship, Contracts and the Corporate Firm: Austrian Insights on the Contractual Nature of Business Organization Stavros Ioannides 8. Costs of Contracting, Psychology of Entrepreneurship and Capabilities of Firms Martti Vihanto 9. Do Entrepreneurs Make Predictable Mistakes? Evidence from Corporate Divestitures Peter G. Klein and Sandra K. Klein 10. Telecommunications Mergers and Theories of the Firm 11. Rents and Resources: A Market Process Perspective Jerry Ellig 11. Rents and Resources: A Market Process Perspective Peter Lewin and Steven E. Phelan 12. Resource-Advantage Theory and Austrian Economics Shelby Hunt Index

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Book SynopsisThis book addresses a number of vital economic convergence issues in the European Union. These are both general and specific issues relating to financial and monetary matters as well as social and labour market concerns. The book opens with a discussion of problems of a general nature. Questions posed include: What is the convergence record in the EU so far? Is there a sign of Baumol and Quah's 'convergence clubs' and 'twin peaks'? Have the 'structural funds' of the European Commission made any difference? The authors then analyse questions of a fiscal and monetary nature: Can we expect the monetary policy of the ECB to have similar effects in the EMU member-states, or is it in itself a source of asymmetric shocks? Has EU membership made any difference, with respect to the initial differences in tax revenue structures? Finally the book focuses on questions regarding social and labour markets: Is global economic convergence compatible with sustainable differences in national social protection levels? Does European globalisation force labour markets to 'de-institutionalise' and do European labour markets converge to a 'Third Way' model?Academics and researchers of European studies and economic policy will find this up-to-date book of great interest, as will policymakers and business leaders both affected by and from within the EU.Trade Review'A very detailed and comprehensive book, enriched with a wide range of tables and graphs, which will be of delight to researchers and decision makers.' -- European LibraryTable of ContentsFull Contents: 1. Introduction and Outline Part I: Convergence Between Nations and Regions in the EU: General Issues 2. Regional Adjustment and Convergence in Euro-land 3. A Quarter of a Century of Real GDP and Growth Rate Convergence and Divergence in the EU 4. Convergence or ‘Twin Peaks’? The Spanish Case 5. The Impact of European Structural Funds on Economic Convergence in European Countries and Regions 6. Optimum Currency Area Theory and Monetary Integration as a Gradual Process Part II: Convergence in the EU: Fiscal and Monetary Issues 7. The Impact of EU Membership on Tax Revenue Structures 8. The Propagation of Monetary Policy in Europe Part III: Convergence in the EU: Social and Labour Market Issues 9. Some Theory on the Sustainability of Different Levels of Social Protection in a Monetary Union 10. European Labour Markets under Convergence Pressure 11. Distorted Labour Markets and Revealed Comparative Advantage: A Note on the Single Market and the EU Periphery 12. Social and Employment Policies in the EU: Convergence on a ‘Third Way’ Model? Index

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Book SynopsisReform of public sector governance is a well-established global trend, both in government and business, as countries move from traditional bureaucracies to management modelled on the private sector. This book offers a striking and original comparison of recent developments drawing on two of the leading innovators - the UK and Australia, and on one of the classic East Asian administrative systems in Korea. Its novelty lies in the parallel comparison with reform of the governance of the business corporation and the 'read across' from change in the private sector to change in the public sector. Also identified are the ways in which the reforms taking place have been influenced by international models.The authors, all leading academics in Australia, Britain and Korea, base their analyses on original research. The book's main sections deal with private sector management, privatisation and public enterprises, corporate governance, and government-business relations. Conclusions are drawn regarding possible future policy and changing trajectories of reform as well as about the content, success and extent of national reforms in a global setting.Reforming Public and Corporate Governance will be of interest to political scientists, political economists and East Asian scholars, as well as academics, researchers, policymakers and NGOs involved in public policy and management.Trade Review'. . . provides useful and interesting accounts of particular aspects of public and private sector developments in Australia, Britain and Korea. It will be read mainly by academic specialists, though particular chapters can be suitable for under-graduate teaching purposes in Australia.' -- Hans Lofgren, Australian Journal of Public AdministrationTable of ContentsContents: Preface 1. Introduction Part I: Public Sector Reform 2. Administrative Reform in the Korean Central Government: A Case Study of the Dae Jung Kim Administration 3. Public Sector Reform in Australia 4. Beyond the ‘New Public Management’: Regulated Partnerships in Britain Part II: Public Enterprises 5. Reforming Public Enterprises in South Korea 6. Public Enterprise Divestments in Australia: A Turn-of-the-Century Review 7. Utility Regulation, Competition Policy and Regulatory Reform in Britain Part III: Corporate Governance 8. Transforming the Corporate Governance of Korean Firms 9. New Ownership Structures and the Governance of Australian Corporations 10. Corporate Governance and the Company Law Review in Britain Part IV: Government–Business Relations 11. Government–Business Relations and Globalization: The Australian Experience 12. Government–Business Relations: The Korean Experience 13. Conclusion References Index

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Book SynopsisWhilst contemporary economies are innovative, they are also predominantly service economies in so much as services are the main source of wealth and employment. However, there is still considerable unwillingness to consider innovation in terms of services, a paradox rooted in an obsolete conception which regards manufacturing as the only engine of growth. In this book Faiz Gallouj propounds a theoretical framework which describes and evaluates the main approaches to analysing and understanding innovation in services. He provides interesting and extensive empirical material on the nature and sources of innovation in various services sectors and countries, and makes an original contribution both to theories of innovation in services and theories of innovation in general. Taking both an evolutionary and conventionalist stance, he demonstrates that services, and more importantly innovations in services, can be regarded as the new wealth of nations.This informative and original book will prove invaluable to academics and students interested in economics, innovation, structural change, sociology and management. It will also be welcomed by practitioners and managers in service organisations.Trade Review'. . . this is a book worth reading.' -- Peter Clarke, Entrepreneurship and Innovation'This is one of the first dedicated attempts to focus on the economics of innovation in the service economy. The book provides a detailed analysis of the conditions that shape and direct the introduction of innovations in services. In so doing it makes an important step towards integrating the analysis of quality and variety into the economics of innovation and knowledge.' -- Cristiano Antonelli, University of Turin and Collegio Carlo Alberto, Italy'Activities in the service sectors of the economy used to be considered unproductive. Until very recently, they were considered un-innovative, in spite of accounting for well over half of output in the advanced countries of the world. Faiz Gallouj destroys this myth. Not only are service sectors the major investors today in equipment based on information and communications technologies, they are also the source of other innovations, both technological and organisational. His book is a major landmark in our mapping of the so-called service economy.' -- The late Keith Pavitt, formerly of SPRU - Science and Technology Policy Research, University of Sussex, UKTable of ContentsContents: Introduction 1. Innovation in Services: A Brief Survey 2. An Extended Lancasterian Approach for Goods and Services 3. Models of Innovation Derived from a Characteristics-Based Approach 4. The Organization of Innovation and the Characteristics-Based Approach 5. Models of Innovation and Evolutionary Theory 6. Characteristics, Worlds of Production and Worlds of Innovation Conclusion Bibliography Index

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Book SynopsisIt is a widely held view that politics plays an important role in determining international trade policy. Defining precisely why, and how, politics matters is more difficult. Despite the benefits of trade, few nations have wholeheartedly adopted free trade policies, and when they do so it is by managing trade through international institutions and multi- or bilateral trade treaties.International Trade and Political Institutions broadens the public choice theory of trade politics to allow for the study of ideas and institutions within a longer time horizon. The authors use theoretically rigorous historical analysis of international political economy and four important case studies to help untangle the role of ideology, institutions and interests. This illuminating book connects the fields of economics, political economy and history to shed new light on trade theory.Scholars of political science and economy, economics and history will all find this book fascinating and worthwhile reading.Trade Review'This stimulating and well-written volume is based on the papers originally presented at a mini-conference held at Washington University in St. Louis . . . I do not exaggerate in saying that this should be standard reading for international relations theorists as well as economists and economic historians interested in the political economy of trade reform.' -- John V.C. Nye, EH.Net'In International Trade and Political Institutions, four leading young scholars of comparative and international political economy come together to analyse aspects of trade policy from the late eighteenth to the early twentieth centuries. Combining theoretical sophistication with empirical depth, they provide cogent arguments about the interaction of interests, institutions, and ideas in a period of crucial importance to those who would like to understand the sources and implications of global economic integration. This exciting volume will be of great interest for scholars concerned with international trade, political economy, and the history of the nineteenth-century world economy.' -- Jeffry A. Frieden, Harvard University, US'This fascinating volume should be read by political scientists, economists, and historians interested in the political formation of trade policy. The papers consider a rich set of historical examples and never fail to be provocative and interesting.' -- Douglas Irwin, Dartmouth College, USTable of ContentsContents: Preface 1. Tariffs and Modern Political Institutions: An Introduction 2. Agreeable Duties: The Tariff Treaty Regime in the Nineteenth Century 3. Trading Free and Opening Markets 4. Irish Potatoes, Indian Corn and British Politics: Interests, Ideology, Heresthetic and the Repeal of the Corn Laws 5. The Strategic Use of Ideas: Nationalizing the Interest in the Nineteenth Century 6. A Unifying Theory of Interests, Institutions and Ideas? Concluding Remarks References Index

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Book SynopsisEconomic Crisis Management discusses contemporary and economic policy and its application to major crisis economies in Asia. The book contains a collection of studies by international experts in economics and finance with special focus on major aspects of the economic management of the Asia crisis. Monetary and fiscal policies are analysed, and the implementation, outcomes and prospects of financial reform are considered. The contributors go on to discuss modern theories and practices of economic management and successes and failures in Asian crisis management. Initiatives to prevent or deal more effectively with future economic crises in the region are also evaluated.Economic Crisis Management will appeal to a wide-ranging audience including: students, researchers and academics with a special interest in economics and commerce, policymakers, government advisers, business and development economists, corporate planners and commerce analysts.Trade Review'. . . the book is informative and interesting for readers. Both academics and policymakers can benefit from the theoretical perspectives and the insight into the countries' experiences.' -- Sakulrat Montreevat, ASEAN Economic BulletinTable of ContentsContents: 1. Economic Crisis Management: An Overview 2. Economic Management and Recent Financial Crises 3. Monetary and Fiscal Policy and Crisis Economies 4. Economic Reforms and Constitutional Transition 5. Thailand’s Financial and Economic Crisis – Evaluating Alternative Policies for Economic Recovery 6. Financial Crisis Management in Korea: Processes and Consequences 7. Vietnam: Economic and Financial Management 8. The Philippines: Crises and Economic Crisis Management 9. Indonesia: Managing Economic and Social Collapse 10. Singapore: Economic Management During and After the Asia Crisis 11. Management of Economic and Financial Crises: Synthesis and the Road Ahead

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Book SynopsisThe current trend towards globalization is posing a substantial challenge to SME clusters to restructure and reach out to distant markets and knowledge sources, while at the same time exploiting the advantages of local factors and agglomeration. This book represents a first attempt to analyze these issues in detail, employing novel empirical evidence.The authors focus on Small and Medium-sized Enterprises (SMEs) in Italy and Taiwan, two countries in which these businesses characterize the national industrial structure. They find that in the current climate of globalization, there is no best practice model for organizing an industrial cluster since a diversity of successful institutional arrangements is possible. They demonstrate that over time SME clusters can evolve and that globalization can reshape their upgrading options by providing a variety of international knowledge linkages. Thus, the authors conclude that the development of local and global networks and new interactive modes of knowledge creation, which have co-evolved as a result of globalization, have provided the necessary conditions for competitive survival. Taking a multidisciplinary approach, the authors utilize a number of analytical tools to evaluate their survey data and present an original comparison between the experiences of two countries that are facing the challenges of globalization, often with differing strategies. This book will be of great interest to industrial and international economists, policymakers, and corporate and SME managers.Trade Review'This book is rich in interesting ideas and new information. Its analysis of Italian and Taiwanese industrial districts in low and high technology activities is particularly rewarding, tracing different sources of dynamism and responsiveness to global challenges. The authors' emphasis on the links between local and international networks captures precisely the elements that determine the growth of small enterprises today. The book is a "must" for anyone working on SMEs, East Asian growth, industrial districts, innovation and globalisation.' -- The late Sanjaya Lall, Oxford University (at the International Development Centre at Queen Elizabeth House), UK'This book integrates very well the topical themes of industrial clusters in local districts and the global links provided by multinational companies. The international comparison of Italy and Taiwan serves as a fascinating context for this discussion.' -- John Cantwell, Rutgers University, USTable of ContentsContents: Foreword 1. Introduction 2. Models of Industrial Clusters’ Evolution and Changes in Technological Regimes 3. The Dynamics of Italian Industrial Districts: Towards a Renewal of Competitiveness? 4. The Dynamics of Taiwan’s SMEs: The Case of Electronics 5. Small Firms Competing in Globalized High-tech Industries: The Co-evolution of Domestic and International Knowledge Linkages in Taiwan’s Computer Industry 6. New Challenges for Industrial Clusters and Districts: Global Production Networks and Knowledge Diffusion Bibliography Index

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