International economics Books

Book SynopsisThe processes of globalisation and increased economic regionalism have had profound, often destabilising, effects on modern economic and financial systems. In recognition of this fact, the editors of this fine book have collected together a diverse range of heterodox ideas surrounding the complex relationships and interactions between globalisation, regionalism and economic activity.The book promotes real-world economic issues and explores them without adopting any particular methodological, ideological or theoretical agenda. A number of influential economists explore the inter-relationships between globalisation, regionalism, finance, economic growth and development from a global perspective. Amongst other topics, the book includes comprehensive discussions on fixed versus flexible exchange rates; international liquidity; the WTO dispute settlement system; the eastward expansion of the European Union; crowding-out in export led growth; demand and supply in the New Economy; the national origin of financial liberalisation in the US; and the relationship between savings and investment. The range and depth of analysis makes this book a timely and useful contribution to current policy debates. Academics, students and scholars with an interest in globalisation, international economics and macroeconomics will do well to read this eclectic and stimulating volume.Table of ContentsContents: Introduction 1. Capital Account Liberalisation, Free Long-Term Capital Flows, Financial Crises and Economic Development 2. Fixed vs. Flexible Exchange Rates, Economic Growth and International Liquidity 3. Globalization, Distributional Conflict and Inflation: The Case of the US Economy During the 1990s 4. How Well is the WTO Dispute Settlement System Working? 5. A Fully Coherent Post Keynesian Model of the Euro Zone 6. Finance–Industry Relationships in Europe and the Prospects for Growth and Convergence 7. Eastward Expansion of the European Union – Nominal and Real Convergence Examined 8. Export-led Growth: Evidence of Developing Country Crowding Out 9. Demand and Supply in the New Economy 10. The National Origin of Financial Liberalization: The Case of the United States 11. Saving is the Accounting Record of Investment 12. Globalization, Regionalism and State Capacity in Developing Countries: A Note Index

Read more less

Book SynopsisThe diffusion of work processes across countries through foreign direct investment and technological collaborations is an increasingly important practice in today's global economy. Ayse Saka explores this process both by focusing on the role of actors in appropriating different ways of operating and by examining the effects of the institutional environment in the host country. The author uses the example of Japanese firms operating in the UK to explore how the diffusion of work systems occurs in practice. She finds that institutional, organisational and group characteristics, have great influence on the degree to which Japanese work systems are put to practice and accepted by UK adopter companies. The degree to which alternative work systems are accepted depends in part on the flexibility of the institutional setting and on social patterns of interaction in organisations.This unique and original book will appeal to a wide-ranging audience, including researchers, lecturers and scholars specialising in management studies in human resource management, industrial relations, organisational behaviour and international operations management. Cross-National Appropriation of Work Systems will also be invaluable to management practitioners and policymakers.Trade Review'I would . . . recommend this study in a . . . general way, beyond the specific topic and its disciplinary ambit, for the combination of methodological rigour with qualitative sensitivity in interviewing and analysis. This shows what theoretically meaningful research in the more qualitative veneer, beyond genuflections towards Ragin or Eisenstadt, looks like.' -- From the preface by Arndt SorgeTable of ContentsContents: Preface by Arndt Sorge Part I: Theoretical Background Introduction 1. Work Systems Diffusion: Neo-institutional Perspectives 2. The Double Embeddedness Barrier Part II: Some Empirical Evidence 3. Research Methodology 4. Appropriation of Japanese Work Systems in the UK: Illustrations from the Automotive Industry 5. Conclusions, Implications and Limitation Appendices References Index

Read more less

Book SynopsisThe contributors to this book, from the US and Japan, explore the main issues involved in the international trade, foreign direct investment, and macro/financial relations of the United States and Japan and provide guidance to policymakers for measures to help overcome Japan's economic stagnation since the early 1990s.The book is divided into three parts. Part I contains an empirical analysis of trade diversion under the North American Free Trade Agreement (NAFTA), a theoretical analysis of time in determining the structure and effects of trade with an application to Japan, and an empirical analysis of Japan's changing import behavior. Part II is focused on foreign direct investment (FDI), trade, and the behavior and structure of Japanese firms. Part III deals with macro/financial issues of current interest and importance in Japan. The analytical focus of the chapters is intended to enhance the understanding of the issues addressed and to provide some guidance to policymakers in the design of measures that will improve economic efficiency and welfare and help to overcome the economic stagnation that Japan has experienced in the past decade or more.Economists, political scientists and policymakers will find the analysis provided in this volume invaluable in understanding the Japanese economy and economic relations between Japan and the United States.Table of ContentsContents: Preface 1. Introduction and Overview Part I: Trade and Related Issues 2. Trade Diversion under NAFTA 3. Time and Trade: The Role of Time in Determining the Structure and Effects of International Trade, with an Application to Japan 4. An Analysis of Japan’s Changing Import Behavior Part II: Foreign Direct Investment, Trade, and the Behavior and Structure of Japanese Firms 5. Sources of Variation in the Productivity of Japanese Manufacturers 6. Foreign Direct Investment in Japan: Empirical Analysis Based on the Establishment and Enterprise Census 7. Exports and Foreign Direct Investment Accelerate Corporate Reforms: Evidence from Japanese Micro Data Part III: Macro/Financial Issues 8. Prospective Japanese Economic Recovery: Perspectives from European Economic Recovery in the 1930s 9. Japan’s Lost Decade and Weaknesses in Its Corporate Governance Structure 10. Zero-Interest-Rate Policy, the Forward-Rate Curve, and Policy-Duration Effect 11. Demographic Changes and Their Implications for Japanese Household Savings 12. Restoring Full Employment in Japan: Domestic and International Policy Considerations Index

Read more less

Book SynopsisA feature of the global economy over the last half-century has been the proliferation of regional trading arrangements (RTAs) and the ongoing debate over the relationship between regionalism and multilateralism. The economic analysis of regionalism has increasingly come to focus on fundamental elements of international economics.The economic analysis of RTAs evolved substantially following Viner's key insight, which highlighted the possibility of trade diversion. During the 1980s and 1990s the analysis broadened to include trade-related issues and other areas. The debate currently thrives as the European Union expands eastwards, the USA looks to strengthen hemispheric relations, and East Asian countries consider regional arrangements more seriously after the 1997 regional crisis.This volume is a careful selection of the major contributions to the economic analysis of RTAs. It will be a valuable reference source for students, policymakers and academics.Table of ContentsContents: Acknowledgements Introduction Richard Pomfret PART I VINERIAN CUSTOMS UNION THEORY 1. Jacob Viner (1950), ‘The Economics of Customs Unions’ 2. R.G. Lipsey (1960), ‘The Theory of Customs Unions: A General Survey’ 3. Harry G. Johnson (1960), ‘The Economic Theory of Customs Union’ 4. C.A. Cooper and B.F. Massell (1965), ‘A New Look at Customs Union Theory’ PART II OUTSIDE THE MAINSTREAM 5. Murray C. Kemp and Henry Y. Wan, Jr. (1976), ‘An Elementary Proposition Concerning the Formation of Customs Unions’ 6. Eitan Berglas (1979), ‘Preferential Trading Theory: The n Commodity Case’ 7. Paul Wonnacott and Ronald Wonnacott (1981), ‘Is Unilateral Tariff Reduction Preferable to a Customs Union? The Curious Case of the Missing Foreign Tariffs’ PART III EXTENSIONS A Terms of Trade 8. Robert A. Mundell (1964), ‘Tariff Preferences and the Terms of Trade’ 9. Richard Blackhurst (1972), ‘General Versus Preferential Tariff Reduction for LDC Exports: An Analysis of the Welfare Effects’ 10. Richard Pomfret (1986), ‘The Theory of Preferential Trading Arrangements’ B Scale Economies 11. W.M. Corden (1972), ‘Economies of Scale and Customs Union Theory’ C Technical Efficiency 12. Richard E. Baldwin (1992), ‘Measurable Dynamic Gains from Trade’ PART IV THE NEW REGIONALISM 13. David Cox and Richard Harris (1985), ‘Trade Liberalization and Industrial Organization: Some Estimates for Canada’ 14. Alasdair Smith and Anthony J. Venables (1988), ‘Completing the Internal Market in the European Community: Some Industry Simulations’ 15. Anne O. Krueger (1999), ‘Free Trade Agreements as Protectionist Devices: Rules of Origin’ 16. L. Alan Winters (1999), ‘Regionalism vs. Multilateralism’ 17. Arvind Panagariya (2000), ‘Preferential Trade Liberalization: The Traditional Theory and New Developments’ PART V POLITICAL ECONOMY AND TIME INCONSISTENCY 18. Wilfred J. Ethier (1998), ‘Regionalism in a Multilateral World’ 19. Philip I. Levy (1997), ‘A Political-Economic Analysis of Free-Trade Agreements’ 20. Kyle Bagwell and Robert W. Staiger (1997), ‘Multilateral Tariff Cooperation During the Formation of Customs Unions’ PART VI THE OPTIMAL NUMBER OF BLOCS AND OPTIMAL SIZE OF NATIONS A Optimal Number of Blocs 21. Paul R. Krugman (1991), ‘Is Bilateralism Bad?’ 22. Lawrence H. Summers (1991), ‘Regionalism and the World Trading System’ B Optimal Size of Nations 23. Alberto Alesina, Enrico Spolaore and Romain Wacziarg (2000), ‘Economic Integration and Political Disintegration’ 24. Dani Rodrik (2000), ‘How Far Will International Economic Integration Go?’ C Home Bias 25. John McCallum (1995), ‘National Borders Matter: Canada-U.S. Regional Trade Patterns’ 26. John F. Helliwell (1996), ‘Do National Borders Matter for Quebec’s Trade?’ 27. Charles Engel and John H. Rogers (1996), ‘How Wide is the Border?’ D Regionalization and Sub-Regional Zones 28. Detlef Lorenz (1991), ‘Regionalisation versus Regionalism – Problems of Change in the World Economy’ 29. Richard Pomfret (1996), ‘Sub-regional Economic Zones’ Name Index

Read more less

Book SynopsisThe Economics and Ideology of Free Trade makes an important contribution to the debate on globalization by providing much needed intellectual and historical perspective on the issue of Free Trade versus Protection.The book does so by reviewing and integrating doctrinal history and past policy debates. Firstly the book deals with the doctrinal evolution of the economics of free trade from the mercantilists onwards (including the reaction against classical economics by Friedrich List and the American national economists). It then goes on to critically examine the debates, policies and events that mark over two centuries of fierce but intellectually stimulating controversy over free trade and protection (including the debate on the Corn Laws, the British Tariff Reform Controversy 1903, and Keynes on Protection).In this stimulating and highly informative volume, the author summarizes and encapsulates a vast amount of material in a singularly economical and succinct manner that will appeal to academics and students interested in the history of economic thought, international economics, economic history and also international relations.Trade Review'A very good book. The writing is clear and concise and it covers a remarkable range of literature in a highly readable style; it offers an excellent introduction to the history of trade policy. In the current economic climate, where free trade ideology is the ascendant, the book may serve to remind economists that, even though there are good reasons for free trade, the case for protection needs to be taken very seriously.' -- Roger E. Backhouse, Journal of the History of Economic Thought'An outstanding feature of Gomes' book is its skillful blending of trade theory, trade policy, the politics and ideology of free trade, the economic events that shaped them, and the forces leading to or away from globalisation in various epochs. It is rare to come across an author who is conservant with so many different facets of the history of trade theory and policy. His book can be recommended. . .' -- Andrea Maneschi, The European Journal of the History of Economic Thought'Gomes deserves praise for an excellent presentation and assessment of a large body of economic literature, and for incisive observations regarding history of thought and events.' -- Lawrence H. Officer, EH.Net'Leonard Gomes has written a masterful account of the history of the concept of free trade, its underpinnings in economic theory, the controversial implementation of free trade policies in the past two centuries. A distinctive feature of this book is its encompassing perspective on the history, economics, politics and ideology of free trade. Gomes examines how the economics of free trade was interpreted by the mercantilists, the classical and neoclassical economists, and the present-day "new trade theorists". After tracing the evolution of commercial policy through successive eras of freer trade and backlashes against it, Gomes concludes with a thoughtful analysis of the current meaning, benefits and costs of globalization. This readable and scholarly book is an ideal supplementary text for any course in trade theory.' -- Andrea Maneschi, Vanderbilt University, USTable of ContentsContents: Preface Part I: Free Trade: The Economics 1. Regulated Trade – Our Mercantilist Heritage 2. Classical Trade Theory 3. Free Trade and the National Economists 4. The Economics of Trade and Protection in the Age of Marshall 5. Trade and General Equilibrium Part II: Free Trade: Rhetoric, Events, Policies and Ideology 6. The Economists, the Corn Laws and Commercial Policy 7. The British Tariff Reform Debate, 1903 8. The First Era of Globalization and After 1860–1960 9. Reflections on Globalization Bibliography Index

Read more less

Book SynopsisEMU is a completely new policy regime which has significant economic implications and which, it is hoped, will ultimately enhance the role of Europe on the world stage. EMU and Economic Policy in Europe takes stock of the initial experiences of EMU and assesses the challenges which will have to be addressed in the early years of its existence to ensure its long-term objectives are successfully achieved.Bringing together leading scholars and policymakers, the book considers some of the most pertinent and significant issues surrounding the euro from a variety of different perspectives. These include the behaviour of monetary and fiscal authorities, the implications for policy co-ordination, the impact of the euro on financial markets and the consequences of EU enlargement.The distinguished array of authors have produced a comprehensive and balanced assessment of the initial economic and policy challenges facing EMU. European policymakers, financial economists and anyone with an interest in the process of European integration will benefit from reading this accomplished book.Trade Review'All the economists who have contributed to this volume are both distinguished scholars and active participants in the policy debate. Over the years, they have greatly helped policymakers, at the national and Union levels, to identify and understand the difficult policy choices involved in the running of EMU. I am grateful for their contribution to the success of the euro.' -- From the foreword by Pedro SolbesTable of ContentsContents: Foreword by Commissioner Pedro Solbes PART I: OVERVIEW 1. EMU in the Early Years: Differences and Credibility Marco Buti and André Sapir PART II: MONETARY POLICY 2. Monetary Policy in the Early Years of EMU Jordi Galí 3. The ECB’s Monetary Policy Strategy: Responding to the Challenges of the Early Years of EMU Vítor Gaspar, Klaus Masuch and Huw Pill 4. Monetary Policy Transmission in EMU Massimo Suardi PART III: FISCAL POLICY 5. Fiscal Policy and EMU: Challenges of the Early Years Antonio Fatás and Ilian Mihov 6. Fiscal Policy in the Early Years of EMU Anne Brunila and Carlos Martinez-Mongay PART IV: POLICY COORDINATION 7. The Functioning of Economic Policy Coordination Jürgen von Hagen and Susanne Mundschenk 8. Economic Policy Coordination in EMU: Accomplishments and Challenges Servaas Deroose and Sven Langedijk 9. The EMU’s Economic Policy Principles: Words and Facts Jean Pisani-Ferry PART V: LABOUR MARKETS 10. EMU Labour Markets Two Years On: Microeconomic Tensions and Institutional Evolution Giuseppe Bertola and Tito Boeri 11. Wage Discipline in EMU. A Feature of the Early Years. Only? Karl Pichelmann PART VI: FINANCIAL MARKETS AND THE INTERNATIONAL FINANCIAL SYSTEM 12. EMU and Financial Market Structure Harry Huizinga 13. The Euro and the International Financial System Richard Portes 14. The Euro and the International Monetary System Johan Baras, Reinhard Felke and Daniel Daco PART VII: THE FUTURE OF EMU 15. EMU and Enlargement Barry Eichengreen and Fabio Ghironi 16. EMU – The First 10 Years: Challenges to the Sustainability and Price Stability of the Euro Area – What Does History Tell Us? Lars Jonung References Index

Read more less

Book SynopsisThe issue of electricity reform has been on the agenda in Europe for a decade and remains a high priority for policymakers looking to the future. However, the performances of new electricity markets are still not clear and arouse significant controversy. This book focuses on the diversity of electricity reforms in Western Europe, drawing evidence from ten European Union memberstates plus Norway and Switzerland as associate members. The contributors analyse the various ways of introducing competition in the European electricity industries, and consider both the strategies of electricity companies and their behaviour in electricity marketplaces. They also offer an explanation of the differences of reforms by the institutions and the industrial structures of each country which shape the types of marketrules, industrial restructuring and public service regulations which have been adopted.As a whole, this volume will attract scholars, PhD and post-graduate students, notably those interested in energy economics, comparative institutional economics and applied industrial economics. European and non-European energy companies or regulatory authorities looking for an independent and analytical overview of European electricity markets will also find this book of great interest.Trade Review'The collaborators for this book have provided a great service to those interested in this vital energy industry. . . readers with either a practical or academic interest in power sector reform will find this book timely and of great interest.' -- Robert Skinner, The Journal of Energy Literature'. . . an excellent overview of entrepreneurial and regulatory strategies in the European electricity industries. . .' -- Carsten Grave, European Competition Law Review'An excellent collection of papers examining alternative approaches to introducing competition into the electricity sectors of European countries. There is much to learn about how to improve the performance of electricity market liberalization in all countries from the studies in this volume.' -- Paul L. Joskow, Massachusetts Institute of Technology, USTable of ContentsContents: Introduction 1. The Making of Competitive Electricity Markets in Europe: No Single Way and No ‘Single Market’ Part I: The British and Scandinavian Pioneers 2. Electricity in England and Wales: Efficiency and Equity 3. Reforming the Reform in the Electricity Industry: Lessons from the British Experience 4. Strategic Pricing for Network Access: Evidence from Electricity Distribution in England and Wales 5. The Deregulated Electricity Markets in Norway and Sweden: A Tentative Assessment 6. The Nordic Public Ownership Model Under Transition to Market Economy: The Case of Electricity Part II: The Making of Electricity Markets in Western Central Europe 7. Competition and Market Power in Northern Europe 8. New Corporate Strategies in the German Electricity Supply Industry 9. The Implementation of the EU Directive for Electricity in Austria: A New Era for the Austrian Electricity Supply Industry 10. Opening the Swiss Electricity Market to Competition Part III: The Making of Electricity Markets in Southern Europe 11. Introducing Competition in the French Electricity Supply Industry: Erosion of the Public Hierarchy by the European Institutional Integration 12. Electricity Sector Restructuring in Belgium 13. Institutional and Organizational Reform in the Italian Electricity Supply Industry: Reconciling Competition with the Single Tariff 14. The Iberian Electricity Market: Towards a Common Market? Index

Read more less

Book SynopsisOn the Edge of the Global Economy contends that despite growing global economic integration, some nations continue to be disadvantaged by remoteness, low connectivity, a small-scale economy and low population density. The book concludes that these economies may nonetheless have significant potential, for example through offering an attractive natural environment, a pleasant climate, various types of niche production and customised services that can lure footloose firms and mobile workers.The contributors review the issues and assess the empirical evidence regarding the various opportunities and challenges facing small remote economies in the global economy. They find that locality and proximity still matter, but that the global economic configuration also offers new opportunities to peripheral nations. Expanding the literature on a somewhat neglected aspect of globalisation, this book will be of great interest to economists, geographers and other researchers specialising in globalisation and related topics. In addition, it will be very useful to policymakers in small remote economies.Trade Review'This book is a worthwhile read by regional scientists and those from related fields. The authors pay considerable attention to the changing world order given rapid changes in information technology and the resultant economic changes. They provide a timely look at how remote areas fit into this new world order and at the same time offer a contemporary perspective on traditional location theory.' -- James B. London, Journal of Regional Science'On the Edge of the Global Economy addresses the long-standing and significant issue of the experience of peripheral locations in an era of information and the Internet. . . The volume addresses important questions about the meaning of place and space at a time when telecommunications can greatly diminish some of the friction of distance.' -- Mark Wilson, Growth & Change'Seldom has an edited collection grasped my attention or kept my blood pressure under control as this volume. It brings together an eminent group of contributors whose thoughtful and worldly essays speak eloquently and thought provokingly about spatial economic development at the margins of the global economy. This is an important, but under researched topic. The book's essays explore why some nations or regions with some combination of small populations, poor resources, geographical isolation or sparse settlement have succeeded in a globalising world, while others have languished or worse.' -- Tony Sorensen, Urban Studies'The excellent book takes up the problem of remoteness and scale of peripheral locations in the globalizing world economy. It contains a number of contributions dealing with this issue and offers a variety of coping strategies and public policies in order to manage these locational disadvantages.' -- Paul Gans, Geographische RundschauTable of ContentsContents: Preface Part I: Location, Information and Transactions 1. Peripherality in the Global Economy 2. Locality Matters: Myths and Facts on the New Economy 3. Geography, Transaction Costs and Economic Performance Part II: Connectivity and Spatial Interaction 4. Physically Isolated Nations, Trade and ‘Small-World’ Network Connectivity 5. Geographical Proximity and Economic Performance of Nations 6. Core-Periphery Linkages and Income in Small Pacific Island Economies 7. The Impact of Scale and Remoteness on New Zealand’s Industrial Structure and Firm Performance 8. Currency Unions and Gravity Models Revisited 9. Australia–New Zealand Border Effects and Trans-Tasman Integration Part III: Strategies 10. Small States and Island States: Implications of Size, Location and Isolation for Prosperity 11. Getting on to the Map of the Global Economy: The Case of Finland 12. From the Periphery to the New Economy: Paths and Roadblocks for Resource Regions 13. Ireland’s Economic Renaissance: The Success of a ‘Peripheral’ Economy 14. The State of E-Commerce in New Zealand Index

Read more less

Book SynopsisGlobal economic progress in the twentieth century, while generally encouraging, was neither continuous nor uniform. With the exception of some Asian nations, countries that were more developed at the beginning of the twentieth century still rank amongst the wealthiest nations, while countries that were poorer, still lag behind. The distinguished authors in this volume address the fundamental causes for such heterogeneous international experiences, placing particular emphasis on the role of institutions.They demonstrate how the study of economic development is increasingly linked to the development of institutions, which allow for more complex exchanges to occur in markets and societies. Institutions can be understood as rules or constraints that channel individuals' actions in specific directions, and can be formal or informal depending on their genesis. The book highlights the connection between institutions and economic welfare by examining countries at different stages of development. Although the authors' study material effects, they also look at individual well-being which is more strongly influenced by the non-material products of institutions such as opportunity, freedom and relationships. They move on to highlight the role of institutions in global business, in terms of innovation, entrepreneurship and foreign direct investment. In the concluding chapters they focus on the actual process of transition from one institutional framework to another. Amongst other examples, they examine reforms to international financial institutions and constitutional adjustments in transition countries. This varied yet highly topical book will be invaluable to institutional and public-choice economists, students and researchers of the theory and policy of international business, and social and political scientists interested in the role and evolution of institutions.Trade Review'The book . . . throws lights on the relationship between various institutions, in particular between the market and the state. It is strongly argued that the establishment of law and order, and an effective guarantee of property rights, must precede the introduction of the price system; if done in reverse order, failure and injustice result. Without a doubt, readers, whatever their own particular standpoint, will be able to derive considerable benefit from this collection.' -- From the preface by Bruno Frey, University of Zurich, Switzerland and Netherlands Institute for Advanced StudiesTable of ContentsContents: Foreword 1. Perspectives on Global Institutional Change Part I: Institutions, Economic Growth and Individual Welfare 2. Competition of Political–Economic Systems and Ideological Neutrality as Conditions for Viable Economic Development 3. The Impact of the Electoral System and of Other Political Institutions on Public Debt and Government Finances in Italy 4. Institutions Matter for Procedural Utility: An Econometric Study of the Impact of Political Participation Possibilities 5. Institutional Design in Plural Societies: Mitigating Ethnic Conflict and Fostering Stable Democracy 6. Fiscal Federalism and the Stability and Growth Pact: A Difficult Union Part II: Institutions and Business Activity 7. The Changing Institutional Form of Innovation: From Exploiting Market Power to Developing Corporate Technological Capability 8. Institutions, Entrepreneurship, and Growth: Biomedicine and Polymers in Sweden and Ohio 9. Corporate Governance and Capital Markets in the Two Capitalisms 10. Political Orientation and Multinational Investment Flows into Italy Part III: Institutional Transition 11. The Glorious Revolution of 1688: Successful Constitutional and Institutional Adjustment in a Period of Rapid Change 12. The Politics of Poverty 13. The Role of International Monetary Institutions after the EMU and the Asian Crisis: Some Preliminary ideas using Constitutional Economics 14. On the Delegation of Powers – With Special Emphasis on Central and Eastern Europe Index

Read more less

Book SynopsisThis insightful collection examines the intersection between macroeconomics and finance. The key challenge in this area is to find the right measure of 'bad times' (the marginal value of wealth) to explain some assets' high average returns or low prices as compensation for those assets' tendency to pay off poorly in bad times.The volume includes a carefully chosen selection of articles that survey the various approaches to this question - including the equity premium, consumption based models, general equilibrium models and labour income/idiosyncratic risk approaches. The editor also provides a comprehensive introduction which sets these papers in context and surveys the broader literature.Table of ContentsContents: Acknowledgements Introduction John H. Cochrane PART I FACTS: TIME-VARIATION AND BUSINESS CYCLE CORRELATION OF RETURNS 1. John H. Cochrane (1999), ‘New Facts in Finance’ 2. Eugene F. Fama and Kenneth R. French (1989), ‘Business Conditions and Expected Returns on Stocks and Bonds’ 3. Martin Lettau and Sydney Ludvigson (2001), ‘Consumption, Aggregate Wealth, and Expected Stock Returns’ 4. Eugene F. Fama and Kenneth R. French (1996), ‘Multifactor Explanations of Asset Pricing Anomalies’ 5. Jimmy Liew and Maria Vassalou (2000), ‘Can Book-to-Market, Size and Momentum be Risk Factors that Predict Economic Growth?’ PART II EQUITY PREMIUM 6. Rajnish Mehra and Edward C. Prescott (1985), ‘The Equity Premium: A Puzzle’ 7. John H. Cochrane and Lars Peter Hansen (1992), ‘Asset Pricing Explorations for Macroeconomics’ PART III CONSUMPTION MODELS 8. Lars Peter Hansen and Kenneth J. Singleton (1982), ‘Generalized Instrumental Variables Estimation of Nonlinear Rational Expectations Models’ 9. Lars Peter Hansen and Kenneth J. Singleton (1984), ‘Errata’ 10. Martin Lettau and Sydney Ludvigson (2001), ‘Resurrecting the (C)CAPM: A Cross-Sectional Test When Risk Premia Are Time-Varying’ 11. John Y. Campbell and John H. Cochrane (1999), ‘By Force of Habit: A Consumption-Based Explanation of Aggregate Stock Market Behavior’ PART IV PRODUCTION, INVESTMENT AND GENERAL EQUILIBRIUM MODELS 12. John H. Cochrane (1991), ‘Production-Based Asset Pricing and the Link Between Stock Returns and Economic Fluctuations’ 13. John H. Cochrane (1996), ‘A Cross-Sectional Test of an Investment-Based Asset Pricing Model’ 14. Urban J. Jermann (1998), ‘Asset Pricing in Production Economies’ 15. Michele Boldrin, Lawrence J. Christiano and Jonas D.M. Fisher (2001), ‘Habit Persistence, Asset Returns, and the Business Cycle’ 16. Lior Menzly, Tano Santos and Pietro Veronesi (2004), ‘Understanding Predictability’ 17. Thomas D. Tallarini Jr. (2000), ‘Risk-Sensitive Real Business Cycles’ 18. Robert E. Hall (2001), ‘The Stock Market and Capital Accumulation’ PART V LABOR INCOME AND IDIOSYNCRATIC RISK 19. John Y. Campbell (1996), ‘Understanding Risk and Return’ 20. George M. Constantinides and Darrell Duffie (1996), ‘Asset Pricing with Heterogeneous Consumers’ 21. Alon Brav, George M. Constantinides and Christopher C. Geczy (2002), ‘Asset Pricing with Heterogeneous Consumers and Limited Participation: Empirical Evidence’ Name Index

Read more less

Book SynopsisThis book provides a critical overview and assessment of the WTO's dispute settlement procedures in the context of several recent trade-related disputes between the EU and the US.Case studies provide comprehensive insights into the contemporary regulation of international trade and workings of the WTO. Topics covered include: a critique of the GATT, WTO and NAFTA dispute settlement mechanisms agriculture in the light of Doha the CAP, beef hormones and GM food the banana dispute, the steel dispute and foreign trade corporations process and production method (PPM) issues and cases. The WTO and the Regulation of International Trade will be of interest to academics and researchers working in the areas of international economics and political economy as well as policymakers within the EU and the US.Trade Review'The book is an excellent introduction to understanding the principal trade disputes between the United States and EU over the last decade and a half.' -- International Trade Law and RegulationTable of ContentsContents: Preface 1. The Political Economy of Protection and the Regulation of International Trade: Recent Trade Disputes between the EU and the United States 2. Trade Dispute Settlement Mechanisms: The WTO Dispute Settlement Understanding in the Wake of the GATT 3. Trade Dispute Settlement Mechanisms: The NAFTA versus the WTO 4. The CAP as a Catalyst for Trade Conflict Between the EU and the United States 5. The Challenge of the Agriculture Trade Negotiations in the WTO Doha Round 6. The ‘Banana Split’: The EU–US Banana Trade Dispute and the Effects of EU Market Liberalisation 7. The EU–US WTO Steel Dispute: The Political Economy of Protection and the Efficacy of the WTO Dispute Settlement Understanding 8. US Foreign Sales Corporations, Export Tax Credits and the WTO 9. Consumers, Cows and Carousels: Why the Dispute Over Beef Hormones is Far More Important than its Commercial Value 10. EU–US Trade in Genetically Modified Goods: A Trade Dispute in the Making 11. Process and Production Methods and the Regulation of International Trade 12. Critical Issues in WTO Dispute Settlement and Recent Trade Disputes between the EU and the United States: Some Conclusions Index

Read more less

Book SynopsisThis book is a synthesis of the author's ideas and research concerning the monetary consequences of trade flows, and the relevance of conventional balance of payments adjustment theory. These ideas are considered mainly in the context of developing countries, many of which suffer from deep structural difficulties and severe foreign exchange shortages.Mainstream economic theory regards the balance of payments to be self-adjusting, meaning that the impact of the balance of payments on the growth and development process is neither considered nor analysed. In contrast, the author emphasises the importance of integrating monetary considerations into trade theory and argues that the balance of payments consequences of trade policy need to be carefully addressed. This approach has a number of implications for important issues such as the sequencing of trade liberalisation; the role of the exchange rate in equilibrating the balance of payments; the case for protection; and the way in which the importance of export growth is articulated. Some of the ideas expressed have a long and distinguished ancestry, but they are not part of the mainstream orthodoxy and need airing in a world increasingly divided into rich and poor countries. The author also considers the case for a new international economic order which would better serve the needs of developing countries, particularly by stabilising primary product prices and controlling speculative capital flows.Trade and development economists, and policymakers concerned with economic growth and development, will appreciate the original and illuminating research in this book.Trade Review'This book is interesting and important beyond its modest size. . . it provides a useful overview of, and context for, Thirlwall's important contributions to the macroeconomics of economic growth and the role that the balance of payments plays in this process. . . Thirlwall's core lessons will leave the reader with a solid foundation for understanding the entrenched macroeconomic problems of our emerging world order.' -- Robert E. Prasch, Review of Political Economy'The book is an important addition to the current literature on balance-of-payments and exchange-rate policy in developing countries. It offers a view that is different from the standard approach and forces us to reconsider the conventional wisdom. Thirlwall builds on his rich past research and puts out a short and readable book that is very much needed not only in the classroom but also in the offices of policymakers and international institutions.' -- Mohammed Akacem, The Journal of Energy and DevelopmentTable of ContentsContents: Preface Introduction 1. Trade and Growth 2. Trade and the Balance of Payments 3. Exchange Rate Systems and Policy 4. What is Wrong with Balance of Payments Adjustment Theory? 5. A New International Economic Order Bibliography Index

Read more less

Book SynopsisThis comprehensive collection brings together major articles written by leading economists, political scientists and legal scholars to analyse the complexities of the modern global system of intellectual property rights (IPRs) and its relationship with the WTO. The papers selected consider the role of IPRs in the knowledge economy, itself a force for rapid globalisation. They first place IPRs into context as a trade issue and their controversial role within the WTO. Several articles analyse the ability of IPRs to encourage innovation and support markets, emphasising controversial problems in developing countries: special attention is given to the role of patents in biodiversity and essential medicines. Additional contributions provide important theoretical and empirical perspectives on the economics of IPRs in the global economy, including effects on trade, investment, innovation, growth, and technology policies. This authoritative volume will be an important source of reference for scholars and policymakers seeking to understand the development and trade impacts of intellectual property protection.Trade Review'The overall issues addressed in the compendium cover most relevant aspects and provide a stimulus for further investigation. Hence, the selection is excellent.' -- Alexander Cuntz, Science and Public Policy'More than any other part of the Uruguay Round (1986-94), the TRIPS Agreement took the GATT/WTO system - and the global economy - into new and uncharted waters. Both the negotiations leading to the Agreement and the controversies since the signing have stimulated economists, lawyers and other scholars to explore the many facets of the globalization of intellectual property rights. Professor Maskus has done a superb job of selecting from the extensive literature 21 articles covering the key issues (he also provides a very useful Introduction). The resulting comprehensive volume is certain to be a key reference work for anyone interested in intellectual property rights, the multilateral trading system, economic development, North/South relations, innovation and related fields.' -- Richard Blackhurst, Editor, World Trade Review and Director of Economic Research, GATT/WTO Secretariat, 1985-97, Graduate Institute of International Studies, Switzerland'This collection, edited by one of the leading scholars in the field, provides a broad-based introduction to the economic and legal issues raised by TRIPs and the accompanying globalization of intellectual property law. It ranges from accessible, policy-oriented essays to cutting edge technical papers. Scholars, students and policymakers with an interest in intellectual property issues should find the collection to be an invaluable reference.' -- Alan Sykes, University of Chicago, USTable of ContentsContents: Acknowledgements Introduction Keith E. Maskus PART I THE WTO AND INTELLECTUAL PROPERTY RIGHTS 1. Carlos A. Primo Braga (1996), ‘Trade-related Intellectual Property Issues: The Uruguay Round Agreement and its Economic Implications’ 2. Arvind Panagariya (1999), ‘TRIPs and the WTO: An Uneasy Marriage’ 3. Keith E. Maskus (2002), ‘Regulatory Standards in the WTO: Comparing Intellectual Property Rights with Competition Policy, Environmental Protection, and Core Labor Standards’ 4. Susan K. Sell (2003), ‘Life After TRIPS – Aggression and Opposition’ PART II ECONOMICS OF INTELLECTUAL PROPERTY RIGHTS 5. Stanley M. Besen and Leo J. Raskind (1991), ‘An Introduction to the Law and Economics of Intellectual Property’ 6. Roberto Mazzoleni and Richard R. Nelson (1998), ‘Economic Theories about the Benefits and Costs of Patents’ 7. John H. Barton (1993), ‘Adapting the Intellectual Property System to New Technologies’ 8. Nancy T. Gallini and Michael J. Trebilcock (1998), ‘Intellectual Property Rights and Competition Policy: A Framework for the Analysis of Economic and Legal Issues’ PART III CONTROVERSIES SURROUNDING INTELLECTUAL PROPERTY RIGHTS AND ECONOMIC DEVELOPMENT 9. Carlos A. Primo Braga, Carsten Fink and Claudia Paz Sepulveda (2000), ‘Intellectual Property Rights and Economic Development’ 10. Graham Dutfield (2002), ‘Sharing the Benefits of Biodiversity: Is there a Role for the Patent System?’ 11. Julio J. Nogués (1993), ‘Social Costs and Benefits of Introducing Patent Protection for Pharmaceutical Drugs in Developing Countries’ 12. F.M. Scherer and Jayashree Watal (2002), ‘Post-Trips Options for Access to Patented Medicines in Developing Nations’ PART IV THEORETICAL ANALYSIS OF GLOBAL IPRs 13. Ishac Diwan and Dani Rodrik (1991), ‘Patents, Appropriate Technology, and North-South Trade’ 14. Kresimir Zigic (2000), ‘Strategic Trade Policy, Intellectual Property Rights Protection, and North-South Trade’ 15. Amy Jocelyn Glass and Kamal Saggi (2002), ‘Intellectual Property Rights and Foreign Direct Investment’ 16. Edwin L.-C. Lai and Larry D. Qiu (2003), ‘The North’s Intellectual Property Rights Standard for the South?’ PART V EMPIRICAL ANALYSIS OF GLOBAL IPRs 17. Keith E. Maskus and Mohan Penubarti (1995), ‘How Trade-related are Intellectual Property Rights?’ 18. Pamela J. Smith (2001), ‘How Do Foreign Patent Rights Affect U.S. Exports, Affiliate Sales, and Licenses?’ 19. Mariko Sakakibara and Lee Branstetter (2001), ‘Do Stronger Patents Induce More Innovation? Evidence from the 1988 Japanese Patent Law Reforms’ 20. Phillip McCalman (2001), ‘Reaping What You Sow: An Empirical Analysis of International Patent Harmonization’ 21. David M. Gould and William C. Gruben (1996), ‘The Role of Intellectual Property Rights in Economic Growth’ Name Index

Read more less

Book SynopsisThis highly topical book addresses the challenge of economic convergence within Europe, beginning with a thorough review of the theory of growth and related empirical research. Historical and more recent economic developments within the present EU and current accession countries are discussed, along with the design for the process of further integration of accession countries into the EU and the Euro area. Moreover, the potential to achieve a sustainable catch-up process in Western Balkan countries, the Ukraine and Russia is explored, focusing on the task facing the EU in designing proper policies vis-a-vis these countries. The contributors' varied perspectives ensure that the theories and policies postulated are linked closely with the actual situation in accession countries and offer up-to-date insights.Economic Convergence and Divergence in Europe will be of interest to economists and researchers of regional and European studies, particularly those with a focus on integration. Its accessible and non-technical approach assures its appeal to experts from the banking and governmental sectors.Trade Review'This book comprehensively addresses current trends in economic growth in Europe and emphasises theoretical perspectives. . . the book is topical, provides with better understanding of the issues, and will certainly attract, and is useful for academics, as well as students and practitioners of European issues, economists and economic geographers.' -- Nino Javakhishvili, Regions'. . . essential reading for analysts interested in the evolution of convergence trends in Europe and provides a fascinating insight into the enlargement venture.' -- Konstantinos A. Melachroinos, Progress in Human Geography'Set in the context of the launch of the euro and eastward enlargement of the EU, the ambitious scope of the book includes economic convergence with respect to theory, historical trends, recent national and regional disparities, factors such as monetary and exchange policy and the role of the financial sector, issues for accession and nonaccession countries and the role of policy. . . The editors have produced a readable, informative, and interesting book, which should promote better understanding of convergence in an enlarged EU and closer cooperation between regional and monetary policymakers and researchers.' -- John Bachtler, Journal of Regional ScienceTable of ContentsContents: Preface Introduction: Welcome Remarks from the 2001 Conference Part I: Introductory Session Part II: Past Convergence within the European Union Part III: Accession Countries: Achievements in Real Convergence Part IV: Accession Countries: How to Balance Real and Nominal Convergence? Challenges for Monetary and Exchange Rate Policy Part V: Does the Financial Sector Contribute to Real Growth? Part VI: Is There Somebody Left Out in the Cold? Prospects of CEE Countries Other Than Current Accession Countries Part VII: Policy Challenges within the (Enlarged) EU: How to Foster Economic Convergence Index

Read more less

Book SynopsisThis important book, written by some of the leading scholars in the field, provides a comprehensive overview of recent advances in coalition theory and presents both the latest theoretical developments and novel applications in the field of economics. The authors demonstrate the many uses of coalition theory and its ability to address a whole host of complex economic problems, such as the provision of global public goods, the adoption of co-operative R&D strategies and the emergence of sovereign states. By highlighting important game-theoretic results they are able to compare and contrast the effectiveness of different approaches. Some of the specific topics addressed include: advances in the theory of large co-operative games non co-operative models of coalition formation a survey of the partition function in the formation of coalitions farsightedness in coalition formation coalition stability coalition formation in industrial economics, trade theory, environmental economics, public finance. This essential study of recent theories of coalition and group formation will arm the reader with a new set of tools with which to analyse a variety of problematic economic issues. It will prove invaluable to economists, ecologists, and political and social scientists.Table of ContentsContents: Introduction 1. Advances in the Theory of Large Cooperative Games and Applications to Club Theory: The Side Payments Case 2. Non-cooperative Models of Coalition Formation in Games with Spillovers 3. Endogenous Formation of Economic Coalitions: A Survey on the Partition Function Approach 4. Farsightedness in Coalition Formation 5. Stable Coalitions 6. Endogenous Coalition Formation in Global Pollution Control: A Partition Function Approach Index

Read more less

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

Read more less

Book SynopsisIn both regional and multilateral trade negotiations farm trade issues have been by far the most contentious and difficult to conclude. WTO rules for agricultural trade have yet to be brought into line with those for other goods. As a result, legal agricultural trade disputes at the WTO account for about 40 per cent of cases to date, even though agriculture accounts for only seven per cent of international trade and five per cent of global output. This authoritative and timely collection presents the most important published articles on this subject. The WTO and Agriculture discusses the following questions: Why have agricultural markets been noted for relatively high degrees of government intervention and in particular for rising levels of protection? How was agricultural trade treated in the GATT and WTO? Has the Uruguay Round Agreement on Agriculture helped to resolve trade conflicts in world markets? What new opportunities and challenges are on the horizon? This collection will be an accessible reference source not only for economists but also for those readers with a law or political science background.Trade Review'. . . the collection is an interesting mixture and is to be recommended for graduate students and scientists as well as policymakers.' -- Sabine Daude, Quarterly Journal of International Agriculture'Anderson and Josling are world-class experts on the economics of agriculture and its interface with WTO issues. Besides, the dismantling of agricultural trade barriers and subsidies is the next big agenda before the WTO. This book is therefore both topical and hugely instructive. No scholar or policymaker can afford not to read it.' -- Jagdish Bhagwati, Columbia University, US'This collection on the global trading system will be immensely helpful for scholars, students and analysts. The sound basis of trade research over the past three decades presented here highlights the opportunity for progress in economic development through open agriculture trade.' -- Joachim von Braun, Director General, International Food Policy Research Institute (IFPRI)'The chaotic attempts to bring Food and Agriculture under international trading rules have generated a literature on the subject that is equally unruly. Kym Anderson and Timothy Josling have done a superb job in selecting key historical materials that explain past and present agricultural trade policy, and that provide useful signposts for the future on topics as diverse as state trading and GMOs. Professionals will find these two small volumes worthy substitutes for the hundreds of trade references that now clutter their bookshelves.' -- Walter P. Falcon, Stanford University, USTable of ContentsContents: Volume I Acknowledgements Introduction Kym Anderson and Tim Josling PART I THE GROWTH OF AGRICULTURAL PROTECTIONISM 1. C.P. Kindleberger (1975), ‘The Rise of Free Trade in Western Europe, 1820–1875’ 2. Kym Anderson, Yujiro Hayami and Masayoshi Honma (1986), ‘The Growth of Agricultural Protection’ 3. Peter H. Lindert (1991), ‘Historical Patterns of Agricultural Policy’ 4. Michael Tracy (1989), ‘The Formation of the Common Agricultural Policy’ 5. Anne O. Krueger, Maurice Schiff and Alberto Valdés (1988), ‘Agricultural Incentives in Developing Countries: Measuring the Effect of Sectoral and Economywide Policies’ PART II DOMESTIC POLICIES AND INTERNATIONAL TRADE DISTORTIONS 6. D. Gale Johnson ([1973] 1991), ‘Politics and Economics and Farmers’, ‘New Directions for Agricultural Policy in the Industrial Countries’ and ‘Negotiations for Freer Trade in Agricultural Products’ 7. Gordon C. Rausser (1982), ‘Political Economic Markets: PERTs and PESTs in Food and Agriculture’ 8. Kym Anderson (1995), ‘Lobbying Incentives and the Pattern of Protection in Rich and Poor Countries’ 9. Bruce L. Gardner (1987), ‘Causes of U.S. Farm Commodity Programs’ PART III QUANTIFYING THE EFFECTS OF TRADE-DISTORTING POLICIES PRE-URUGUAY ROUND 10. Alberto Valdés and Joachim Zietz (1980), Agricultural Protection in OECD Countries: Its Cost to Less-Developed Countries 11. Tim Josling and Stefan Tangermann (1990), ‘Measuring Levels of Protection in Agriculture: A Survey of Approaches and Results’ and ‘Panel Discussion’ 12. R. Tyers and K. Anderson (1988), ‘Liberalising OECD Agricultural Policies in the Uruguay Round: Effects on Trade and Welfare’ 13. Vernon O. Roningen and Praveen M. Dixit (1989), How Level is the Playing Field? An Economic Analysis of Agricultural Policy Reforms in Industrial Market Economies 14. Sherman Robinson (1990), ‘Analysing Agricultural Trade Liberalization with Single Country Computable General Equilibrium Models’ PART IV GATT NEGOTIATIONS AND AGRICULTURAL POLICIES PRE-URUGUAY ROUND 15. Kenneth W. Dam (1970), ‘Temperate Agricultural Commodities’ 16. General Agreement on Tariffs and Trade (1958), ‘Agricultural Protectionism in the Industrial Countries’ 17. T.K. Warley (1967), ‘Problems of World Trade in Agricultural Products’ 18. William J. Davey (1993), ‘The Rules for Agricultural Trade in GATT’ 19. Timothy E. Josling, Stefan Tangermann and T.K. Warley (1996), ‘Trade Rules in Crisis: The GATT Committee on Trade in Agriculture’ Name Index Volume II Acknowledgements An introduction by the editors to both volumes appears in Volume I PART I THE URUGUAY ROUND AGREEMENT ON AGRICULTURE 1. Dale E. Hathaway and Merlinda D. Ingco (1996), ‘Agricultural Liberalization and the Uruguay Round’ 2. William D. Coleman and Stefan Tangermann (1999), ‘The 1992 CAP Reform, the Uruguay Round and the Commission: Conceptualizing Linked Policy Games’ 3. Richard A. Higgott and Andrew Fenton Cooper (1990), ‘Middle Power Leadership and Coalition Building: Australia, the Cairns Group, and the Uruguay Round of Trade Negotiations’ 4. Kym Anderson (2001), ‘Bringing Discipline to Agricultural Policy via the WTO’ 5. Stefan Tangermann (2002), ‘Agriculture on the Way to Firm International Trading Rules’ PART II THE URUGUAY ROUND AGREEMENT ON SANITARY AND PHYTOSANITARY MEASURES 6. Donna Roberts (1998), ‘Preliminary Assessment of the Effects of the WTO Agreement on Sanitary and Phytosanitary Trade Regulations’ 7. Richard H. Snape and David Orden (2001), ‘Integrating Import Risk and Trade Benefit Analysis’ 8. Sallie James and Kym Anderson (1998), ‘On the Need for More Economic Assessment of Quarantine Policies’ PART III GATT/WTO AGRICULTURAL TRADE DISPUTE RESOLUTION 9. Louis L. Snyder (1945), ‘The American-German Pork Dispute, 1879–1891’ 10. T. Josling and S. Tangermann (2003), ‘Production and Export Subsidies in Agriculture: Lessons from GATT and WTO Disputes Involving the US and the EC’ 11. Jean-Christophe Bureau, Stephan Marette and Alessandra Schiavina (1998), ‘Non-tariff Trade Barriers and Consumers' Information: The Case of the EU-US Trade Dispute Over Beef’ 12. Tim Josling (2003), ‘Bananas and the WTO: Testing the New Dispute Settlement Process’ PART IV NEW NEGOTIATIONS AND “NEW” ISSUES FOR AGRICULTURE 13. Stefan Tangermann and Tim Josling (2001), ‘Issues in the Next Round of WTO Agricultural Negotiations’ 14. Philip L. Paarlberg, Maury Bredahl and John G. Lee (2002), ‘Multifunctionality and Agricultural Trade Negotiations’ 15. Kym Anderson (1992), ‘Agricultural Trade Liberalisation and the Environment: A Global Perspective’ 16. Neil McCulloch, L. Alan Winters and Xavier Cirera (2001), ‘Agricultural Trade Reform’ 17. Grant E. Isaac and William A. Kerr (2003), ‘Genetically Modified Organisms and Trade Rules: Identifying Important Challenges for the WTO’ 18. David Blandford, Jean-Christophe Bureau, Linda Fulponi and Spencer Henson (2002), ‘Potential Implications of Animal Welfare Concerns and Public Policies in Industrialized Countries for International Trade’ 19. Peter Holmes and Robert Read (2001), ‘Competition Policy, Agriculture and the WTO’ 20. Tim Josling (1997), State Trading: The Achilles Heel of the WTO? Name Index

Read more less

Book SynopsisThe studies included in these two volumes have been selected to highlight key recent contributions to scholarship on the political economy of international monetary relations. Over the last decade, the central theme of research in this area has been the growth and increasingly pervasive influence of capital mobility. The papers collected here have significantly advanced theoretical and analytical understanding of the causes and, even more importantly, the political and economic consequences of financial liberalization. Among the issues addressed are the impact of growing capital mobility on domestic policy, the choice of exchange-rate regimes and monetary institutions, governance of international capital, policy cooperation and monetary integration. These volumes will be of particular interest to specialists in international political economy.Trade Review'These volumes contain the best articles political scientists have published in recent years on international monetary relations. They cover every conceivable topic of interest, including the domestic politics of capital mobility, monetary institutions, and policy cooperation. It is no surprise that both the collection and the introduction to it are of such high quality - Benjamin J. Cohen is the editor of these volumes and the author of the introduction, and his expertise in this area is unparalleled in the field.' -- Joanne Gowa, Princeton University, USTable of ContentsContents: Volume I Acknowledgements Introduction Benjamin J. Cohen PART I THE GLOBALIZATION OF FINANCE 1. Benjamin J. Cohen (1996), ‘Phoenix Risen: The Resurrection of Global Finance’ 2. Philip G. Cerny (1994), ‘The Dynamics of Financial Globalization: Technology, Market Structure, and Policy Response’ 3. Eric Helleiner (1995), ‘Explaining the Globalization of Financial Markets: Bringing States Back In’ 4. Andrew Sobel (1998), ‘Domestic Policy Choices, Political Institutional Change, and Financial Globalization’ 5. David M. Andrews (1994), ‘Capital Mobility and State Autonomy: Toward a Structural Theory of International Monetary Relations’ 6. Louis W. Pauly (1995), ‘Capital Mobility, State Autonomy and Political Legitimacy’ PART II CAPITAL MOBILITY AND DOMESTIC POLICY 7. William Roberts Clark and Usha Nair Reichert with Sandra Lynn Lomas and Kevin L. Parker (1998), ‘International and Domestic Constraints on Political Business Cycles in OECD Economies’ 8. William Roberts Clark and Mark Hallerberg (2000), ‘Mobile Capital, Domestic Institutions, and Electorally Induced Monetary and Fiscal Policy’ 9. Thomas Oatley (1999), ‘How Constraining Is Capital Mobility? The Partisan Hypothesis in an Open Economy’ 10. Geoffrey Garrett (1995), ‘Capital Mobility, Trade, and the Domestic Politics of Economic Policy’ 11. Layna Mosley (2000), ‘Room to Move: International Financial Markets and National Welfare States’ PART III EXCHANGE RATES AND MONETARY INSTITUTIONS 12. Jeffry A. Frieden (1994), ‘Exchange Rate Politics: Contemporary Lessons from American History’ 13. Carsten Hefeker (1996), ‘The Political Choice and Collapse of Fixed Exchange Rates’ 14. William Bernhard and David Leblang (1999), ‘Democratic Institutions and Exchange-rate Commitments’ 15. David A. Leblang (1999), ‘Domestic Political Institutions and Exchange Rate Commitments in the Developing World’ 16. William Roberts Clark (2002), ‘Partisan and Electoral Motivations and the Choice of Monetary Institutions Under Fully Mobile Capital’ 17. J. Lawrence Broz (2002), ‘Political System Transparency and Monetary Commitment Regimes’ Name Index Volume II Acknowledgements An introduction by the editor to both volumes appears in Volume I PART I GOVERNING GLOBAL CAPITAL 1. John B. Goodman and Louis W. Pauly (1993), ‘The Obsolescence of Capital Controls? Economic Management in an Age of Global Markets’ 2. David A. Leblang (1997), ‘Domestic and Systemic Determinants of Capital Controls in the Developed and Developing World’ 3. Beth A. Simmons (2001), ‘The International Politics of Harmonization: The Case of Capital Market Regulation’ 4. Geoffrey R.D. Underhill (1995), ‘Keeping Governments Out of Politics: Transnational Securities Markets, Regulatory Cooperation, and Political Legitimacy’ 5. Timothy J. Sinclair (2001), ‘The Infrastructure of Global Governance: Quasi-Regulatory Mechanisms and the New Global Finance’ PART II POLICY COOPERATION AND COMMITMENT 6. Benjamin J. Cohen (1993), ‘The Triad and the Unholy Trinity: Lessons for the Pacific Region’ 7. Michael C. Webb (1994), ‘Capital Mobility and the Possibilities for International Policy Coordination’ 8. Thomas D. Willett (1999), ‘Developments in the Political Economy of Policy Coordination’ 9. Beth A. Simmons (2000), ‘The Legalization of International Monetary Affairs’ 10. Beth A. Simmons (2000), ‘International Law and State Behavior: Commitment and Compliance in International Monetary Affairs’ PART III REGIONAL MONETARY INTEGRATION 11. C. Randall Henning (1998), ‘Systemic Conflict and Regional Monetary Integration: The Case of Europe’ 12. Wayne Sandholtz (1993), ‘Choosing Union: Monetary Politics and Maastricht’ 13. Kathleen R. McNamara (1999), ‘Consensus and Constraint: Ideas and Capital Mobility in European Monetary Integration’ 14. Benjamin J. Cohen (2001), ‘Beyond EMU: The Problem of Sustainability’ PART IV THE FUTURE OF MONEY 15. Jonathan Kirshner (2000), ‘The Study of Money’ 16. Susan Strange (2002), ‘Finance in Politics: An Epilogue to Mad Money, 1998’ 17. Benjamin Cohen (1999), ‘The New Geography of Money’ Name Index

Read more less

Book SynopsisJohn Chipman is one of the most esteemed economists working in international trade theory. This major reference work, presented in two volumes, offers his principal work in an accessible form. Volume I presents Chipman's famous survey articles on the theory of international trade which are generally recognized to be an essential starting point for any serious study of the subject. The papers explore the evolution of thought from classical to new-classical and on to modern theory. The work remains pertinent and lively and will prove invaluable to anyone interested in international trade. The volume closes with two non-survey articles that expand upon ideas first discussed in the earlier works.This landmark book and its companion volume gather together truly seminal articles that are widely scattered through the literature, and will be an essential source of reference for both instructors and graduate students concerned with international trade theory.Table of ContentsContents: Introduction Part I: A Survey of the Theory of International Trade 1. The Survey of International Trade: Part 1, The Classical Theory 2. A Survey of the Theory of International Trade: Part 2, The Neo-Classical Theory 3. A Survey of the Theory of International Trade: Part 3, The Modern Theory Part II 4. International Trade 5. Balance-of-Payments Theory from Locke to Ricardo 6. Factor Price Equalization and the Stolper-Samuelson Theorem 7. Product Diversification, Equalization of Factor Rentals, and Consumer Preferences Index

Read more less

Book SynopsisJohn Chipman is one of the most esteemed economists working in international trade theory. This major reference work, presented in two volumes, offers his principal work in an accessible form. Expanding and elaborating on the theoretical work presented in Volume 1, this broad yet cohesive collection presents a carefully selected presentation of his principal articles. It offers a wide-ranging exploration of international trade by one of the leading thinkers in the field.Volume 2 collects the author's most influential work on the theory of international movements of capital (both physical and financial). The main emphasis is the effects of these movements on resource allocation within countries, and the consequent changes in relative prices and thus both real and nominal exchange rates, as well as the terms of trade. It is argued that chronic deficits or surpluses in countries' balances of payments on current accounts are in all but a few cases the consequence of capital movements resulting from demographic, governmental budgetary, and other causes, as opposed to the popular view that they result from the manipulation of exchange rates.This landmark book and its companion volume gather together truly seminal articles that are widely scattered through the literature, and will be an essential source of reference for both instructors and graduate students concerned with international trade theory.Table of ContentsContents: Introduction PART I: PHYSICAL CAPITAL MOVEMENTS 1. International Trade with Capital Mobility: A Substitution Theorem 2. Capital Movement as a Substitute for Technology Transfer: A Comment 3. The Theory of Exploitative Trade and Investment Policies: A Reformulation and Synthesis PART II: FINANCIAL CAPITAL MOVEMENTS 4. The Transfer Problem Once Again 5. A Reconsideration of the “Elasticity Approach” to Balance-of-Payments Adjustment Problems 6. The Theory and Application of Trade Utility Functions 7. Exchange-Rate Flexibility and Resource Allocation 8. A General-Equilibrium Framework for Analyzing the Responses of Imports and Exports to External Price Changes: An Aggregation Theorem 9. The Classical Transfer Problem and the Theory of Foreign Exchanges 10. Trade Balance and Exchange Rates 11. An Application of Integrability and Duality Theory to the Classical Transfer Problem in International Trade Index

Read more less

Book SynopsisIn this book a distinguished group of international contributors, from both developing and higher income countries, identify and discuss major social conflicts, labour and distributional concerns, environmental issues and impacts arising from the very rapid increase in globalisation experienced since the early 1970s. Issues considered include possible alternatives to globalisation; cultural and linguistic inequalities associated with globalisation, consequences of growing regionalism and economic inequality between and within nations. Poverty, international migration, biodiversity conservation, natural resource sustainability, and global trade in genetically modified organisms (GMOs) are also discussed.A substantial introductory chapter provides a significant overview of the rate and process of economic globalisation and integrates the contributions and their interconnections for the reader. Economic Globalisation offers policy proposals and responses and represents divergent views and rigorous theoretical analysis.Economists, particularly those with an interest in international economics, labour, environmental and ecological economics, macroeconomics and social economics will all find this book of great interest.Trade Review'. . . the book is interesting and the issues focused upon bring to light the different perspectives on globalisation that would be useful to the student, manager and the researcher.' -- Ajit Prasad, Global Business Review'This work makes a significant contribution to the literature on globalisation. It is comprehensive and cogently addresses serious questions, providing a variety of perspectives without sacrificing rigor. The editors provide an excellent overview and have thoughtfully chosen the topics. This will be an essential book for anyone who wants an intelligent discussion of the real issues surrounding globalisation.' -- Darwin C. Hall, California State University, US, Editor, Contemporary Economic Policy and Editor, Advances in the Economics of Environmental ResourcesTable of ContentsContents: Preface Part I: Background Part II: Rich and Poor Nations and Globalisation: Different Attitudes, Perspectives and Benefits Part III: Labour Issues and Distributional Conflicts Part IV: Environmental Issues and Impacts Index

Read more less

Book SynopsisThe relationship between the global economy and national security has been an enduring source of interest and debate. This volume contains a set of pioneering studies that paved the way for contemporary work on the political economy of national security as well as some more recent contributions to this literature. These papers address the influence of international economic relations on political conflict, the use and effectiveness of economic statecraft, and the effects of national security concerns on foreign economic relations. The articles contained in this volume will chart a path for research on these topics for years to come.Trade Review'An excellent collection of essays on a topic of enduring importance by one of the leading scholars in the field. International Conflict and the Global Economy will be an essential reference for generalists and specialists alike.' -- David A. Lake, University of California, San Diego, USTable of ContentsContents: Acknowledgements Introduction Conflict, Statecraft, and National Security in the Global Economy Edward D. Mansfield PART I LIBERALISM AND MERCANTILISM 1. Jacob Viner (1948), ‘Power Versus Plenty as Objectives of Foreign Policy in the Seventeenth and Eighteenth Centuries’ 2. Robert O. Keohane (1990), ‘International Liberalism Reconsidered’ 3. Barry Buzan (1984), ‘Economic Structure and International Security: The Limits of the Liberal Case’ PART II INTERDEPENDENCE AND CONFLICT IN HISTORICAL PERSPECTIVE 4. Robert Gilpin (1977), ‘Economic Interdependence and National Security in Historical Perspective’ 5. Edward Mead Earle (1986), ‘Adam Smith, Alexander Hamilton, Friedrich List: The Economic Foundations of Military Power’ 6. Jacob Viner (1951), ‘Peace as an Economic Problem’ 7. Kenneth N. Waltz (1970), ‘The Myth of National Interdependence’ 8. Norrin M. Ripsman and Jean-Marc F. Blanchard (1996/97), ‘Commercial Liberalism Under Fire: Evidence from 1914 and 1936’ PART III INTERDEPENDENCE AND CONFLICT: QUANTITATIVE EVIDENCE 9. Solomon William Polachek (1980), ‘Conflict and Trade’ 10. John R. Oneal and Bruce Russett (1999), ‘The Kantian Peace: The Pacific Benefits of Democracy, Interdependence, and International Organizations, 1885–1992’ 11. Edward D. Mansfield and Jon C. Pevehouse (2000), ‘Trade Blocs, Trade Flows, and International Conflict’ 12. Erik Gartzke, Quan Li and Charles Boehmer (2001), ‘Investing in the Peace: Economic Interdependence and International Conflict’ PART IV ECONOMIC STATECRAFT 13. Albert O. Hirschman (1945), ‘Economic Thought on the Relationship Between Foreign Trade and National Power’ and ‘Foreign Trade as an Instrument of National Power’ 14. David A. Baldwin (1985), ‘Bargaining with Economic Statecraft’ and ‘National Power and Economic Statecraft’ 15. Johan Galtung (1967), ‘On the Effects of International Economic Sanctions: With Examples from the Case of Rhodesia’ 16. Michael Mastanduno (1998), ‘Economics and Security in Statecraft and Scholarship’ PART V THE INFLUENCE OF NATIONAL SECURITY ON INTERNATIONAL TRADE 17. Brian M. Pollins (1989), ‘Does Trade Still Follow the Flag?’ 18. Joanne Gowa and Edward D. Mansfield (1993), ‘Power Politics and International Trade’ Name Index

Read more less

Book SynopsisThis thorough and compelling book offers a long-run perspective on the European economy from 1500 to the present day, and compares Europe's position of world dominance in the nineteenth century with its vacillating fortunes in the twentieth century. Europe is set specifically within an international context to illustrate how it influenced the rest of the world and how in turn the latter helped to shape the pattern of European development. The authors explain why Europe overtook the formerly advanced Eastern civilizations and how this resulted in the growing inequality among the nations of the world which is such a marked feature in the present day. They then trace the development of the European economy within the context of the international economy and analyse the reasons for its rise to world dominance in the nineteenth century and then its collapse and revival in the twentieth century.Europe in the International Economy 1500 to 2000 will be of interest to students and scholars of economic history and international economics.Trade Review'Overall this is a very good book that provides up-to-date assessments of Europe and the world-economy from early plunder of the Americas to EU negotiations in the WTO.'Table of ContentsContents: Preface Introduction: Europe in the International Economy 1500 to 2000 1. The Rise of the European Economy 1500–2000 2. The Europeanization of the International Economy 1800–1870 3. The Zenith of European Power 1870–1918 4. The Disintegration of Europe 1918–1945 5. Cold War and Common Market: Europe 1945–1973 6. Europe at the Crossroads 1974–2000 Index

Read more less

Book SynopsisThe book analyses the evolution of research and innovation policies in the world's leading countries. The last decade has witnessed a radical transformation of the landscape shaped after World War II, as described in the seminal collection edited by Richard Nelson in the early 1990s. Even though national systems have inherited different institutional arrangements and trajectories, analyses show three major converging trends in their public policies. There has been a retraction from support to large firms and programmes and a shift toward small to medium enterprises and the innovation infrastructure; the focus on public research and training capabilities is growing; and there has been a redesign of public intervention with the growing role of regions and states on one hand and multinational authorities on the other, particularly in the European Union.The authors, all leading scholars in innovation research, provide thorough analytical descriptions of the national innovation system in their country and set that system in historical perspective. Each chapter is written so the reader can easily make comparisons between countries and regions. Six major issues are identified and addressed in each chapter: the dynamics of universities and their relations with the economy the evolving role of defence R&D and other large public programmes the growth of technology policies and the innovative capabilities of SMEs the changing rationale for government laboratories the growing role of regions in fostering innovation the capability of government to adapt to rapid changes in innovation systems. This essential book will be of interest to scholars and students of science, technology and innovation policy, management, institutional economics and managers of research and innovation policies at a national and local level.Trade Review'The book is quite valuable, with its broad international coverage of state activities in the area of research and innovation support. It should also foster serious debates on the balance between public and private efforts in research and innovation.' -- Mats Benner, Journal of Economic Literature'. . . this book provides the reader with a valuable summary of national public policy approaches to research and innovation at the end of the twentieth century and is a useful addition to the shelves of industrial policy experts.' -- David Gray, Entrepreneurship and InnovationTable of ContentsContents: 1. General Introduction: A Focus on Research and Innovation Policies 2. The United States National Innovation System after the Cold War 3. Research Policy Trends in the United States: Civilian Technology Programs, Defense Technology and the Deployment of the National Laboratories 4. The Structure and Perspective of Science and Technology Policy in Japan 5. The Research, Development and Innovation System in Korea 6. The Emergence of a New European Union Research and Innovation Policy 7. The German Innovation System 8. The United Kingdom National System of Research, Technology and Innovation 9. The Netherlands: Science Policy by Mediation 10. Science, Technology and Innovation Policy in Finland 11. The Spanish System of Research 12. Science, Technology and Innovation Policy in Italy 13. French Research and Innovation Policy: Two Decades of Transformation 14. General Conclusion: Three Major Trends in Research and Innovation Policies Index

Read more less

Book SynopsisThis significant new book provides a succinct overview of the essential policy issues surrounding capital liberalization. The book compares the experiences of transition economies in Europe with those of advanced nations, allowing the reader to examine the changing international economic and financial environment within which transition countries have to liberalize.The book first deals with the critical issues concerning liberalization, including sequencing and financial market development. The authors move on to present an overview of the early liberalization experiences of advanced economies and East-Asian countries. This provides the context for a series of chapters reviewing liberalization progress in transition economies, in which international experts and senior officials analyze their own countries' experiences. The authors also emphasise the importance of financial market reform and the construction of a sound institutional framework if countries are to attract and productively use capital inflows. A stable financial system, whilst not infallible, is also crucial for minimizing the risk of financial crises of the type experienced by a number of countries during the 1980s and 1990s. The comprehensive scope of the subject matter and international contributions from a range of different perspectives will ensure this book is warmly received by academics and researchers with an interest in EU accession, transition economics and financial market reform. It will also serve as a useful guide to governments involved in capital liberalization in other parts of the world such as Latin America and Asia.Trade Review'This collection provides an excellent account of the diverging ways countries in varying parts of the world went about liberalizing capital flows. Case studies of transition countries are set against the background of more general studies analysing the Asian and Latin American experience, as well as the earlier liberalization processes in economically advanced countries. The reader gets a lively picture of the many pitfalls that beset the road to full capital liberalization and will realise that there is no single best way to liberalize. The authors strike one as unprejudiced and far from dogmatic, out to learn from experience rather than trying to impose some particular point of view.' -- Hans Visser, VU University, Amsterdam, The NetherlandsTable of ContentsContents: Preface 1. Capital Account Liberalization in the Transition Phase: An Overview Part I: Policy Issues and Earlier Experiences 2. Advanced Country Experiences with Capital Account Liberalization 3. Sequencing Capital Account Liberalization and Financial Sector Stability 4. Managing Capital Account Liberalization: Indonesia, Malaysia, Korea and Thailand 5. Recent Codes-Based Liberalization in the OECD 6. Capital Account Liberalization and Financial Sector Development in Transition Countries Part II: Transition Country Experiences 7. Capital Account Liberalization in Ukraine 8. Capital Account Liberalization Experiences in Armenia 9. Capital Flows and Capital Account Liberalization in Croatia 10. The Liberalization of the Capital Account in Hungary: Experiences and Lessons 11. Capital Account Liberalization and Financial Market Reform in the Republic of Moldova 12. Capital Account Liberalization in Poland References Index

Read more less

Book SynopsisThis compendium of essays brings together some of William Baumol's most distinguished and acclaimed papers with some that are more rare, including a discussion of the growth and innovation mechanism that accounts for the unprecedented growth performance of the market economies. Amongst many other papers of note are a discussion of appropriate regulatory principles for privatized and deregulated firms, and a survey of the accomplishments of economists in the past century and the past millennium. This collection includes the following essays: Productivity Growth, Convergence and Welfare: What the Long-Run Data Show On the Possibility of Continuing Expansion of Finite Resources Social Wants and Dismal Science: The Curious Case of the Climbing Costs of Health and Teaching Towards Microeconomics of Innovation: Growth Engine Hallmark of Market Economics Use of Antitrust to Subvert Competition Predation and the Logic of the Average Variable Cost Test. The papers engage with an eclectic range of issues and represent a vignette of the author's varied contributions to the economic literature.Trade Review'Reading this collection, one is reminded not only of the breadth of Baumol's contributions to economics, but also of how fine a writer he can be. The explorations of entrepreneurship and growth are particularly broad and interesting. -- - Michael Waterson, University of Warwick, UKTable of ContentsContents: Preface Part I: On Productivity, Growth, the Cost Disease and Scale Economies Part II: Industrial Organization, Regulation and Privatization Part III: Generalities on the Economic Literature Index

Read more less

Book SynopsisThe steady progress of global economic integration and trade-policy liberalization facilitated by the GATT and WTO over the past half-century has been accompanied by persistent warnings of the consequences for wages, employment and working conditions. Indeed, over the last decade, labor interests in the west have sought to slow the pace of international trade negotiations, seeking some protections in the WTO Charter itself and in individual trade agreements.The central focus of this collection is to provide the reader access to the seminal papers analyzing the accommodation of labor interests within the WTO. This comprehensive volume establishes an understanding of the interaction between global goods, capital and labor markets and the national government institutions that regulate their function. In selecting papers for this volume, the editors have identified the most important contributions to the debate.Trade Review'. . . this "reader" is a most welcome reference collection for a broad range of stakeholders - governments, employers' organisations, trade unions, international organisations and academics. Containing some 30 academic papers by well-known scholars published between 1996 and 2006, it provides a comprehensive coverage of the issues at stake. . . This voluminous book contains a treasure of knowledge that could help all stakeholders in industrialised and developing economies to devise better policies related to a more socially acceptable globalisation and improve the understanding of the underpinnings and roles of the ILO and the WTO.' -- Hedva Sarfati, Transfer (European Review of Labour Research)'This volume focuses on two key public concerns related to globalization. Does the freer international flow of goods, services and capital worsen working conditions for social groups most deserving of economic protection such as child labor and low-wage workers generally? Does introducing mandatory labor standards in international trade agreements improve the economic welfare of these groups? Brown and Stern have brought together an outstanding set of readings that inform these issues at both the analytical and empirical levels. Their volume will be a standard reference not only for formal courses covering international economic matters but for individuals interested in becoming knowledgeable about one of the most important international economic policy issues of our times.' -- Robert Baldwin, University of Wisconsin, USTable of ContentsContents: Acknowledgements Introduction Drusilla K. Brown and Robert M. Stern PART I INTRODUCTION AND OVERVIEW 1. Alan V. Deardorff and Robert M. Stern (2002), ‘What You Should Know About Globalization and the World Trade Organization’ PART II TRADE, WAGES AND LABOR MARKETS: HISTORICAL EVIDENCE AND CONTEMPORARY EXPERIENCE 2. Kevin H. O’Rourke and Jeffrey G. Williamson (2005), ‘From Malthus to Ohlin: Trade, Industrialisation and Distribution Since 1500’ 3. Robert C. Feenstra and Gordon H. Hanson (2003), ‘Global Production Sharing and Rising Inequality: A Survey of Trade and Wages’ 4. Sandra E. Black and Elizabeth Brainerd (2004), ‘Importing Equality? The Impact of Globalization on Gender Discrimination’ 5. Eric V. Edmonds and Nina Pavcnik (2006), ‘International Trade and Child Labor: Cross-Country Evidence’ 6. Ann Harrison and Jason Scorse (2004), ‘Globalization’s Impact on Compliance with Labor Standards’ PART III INTERNATIONAL TRADE AND THE RACE TO THE BOTTOM IN CORE-LABOR PROTECTION 7. Will Martin and Keith E. Maskus (2001), ‘Core Labor Standards and Competitiveness: Implications for Global Trade Policy’ 8. Matthias Busse (2002), ‘Do Labor Standards Affect Comparative Advantage in Developing Countries?’ 9. Drusilla K. Brown, Alan V. Deardorff and Robert M. Stern (1996), ‘International Labor Standards and Trade: A Theoretical Analysis’ 10. Dani Rodrik (1998), ‘Why Do More Open Economies Have Bigger Governments?’ 11. Michael Huberman and Wayne Lewchuk (2003), ‘European Economic Integration and the Labour Compact, 1850–1913’ 12. David Kucera (2002), ‘Core Labour Standards and Foreign Direct Investment’ PART IV LABOR PROTECTIONS IN INTERNATIONAL TRADE NEGOTIATIONS 13. Drusilla K. Brown (2001), ‘Labor Standards: Where Do They Belong on the International Trade Agenda?’ 14. Stanley L. Engerman (2003), ‘The History and Political Economy of International Labor Standards’ 15. Kyle Bagwell and Robert W. Staiger (2001), ‘Domestic Policies, National Sovereignty, and International Economic Institutions’ 16. Nuno Limão (2005), ‘Trade Policy, Cross-Border Externalities and Lobbies: Do Linked Agreements Enforce More Cooperative Outcomes?’ 17. Josh Ederington (2002), ‘Trade and Domestic Policy Linkage in International Agreements’ PART V MARKET-BASED MECHANISMS PROTECTING LABOR RIGHTS 18. Kimberly Ann Elliott and Richard B. Freeman (2003), ‘Vigilantes and Verifiers’ 19. Dara O’Rourke (2003), ‘Outsourcing Regulation: Analyzing Nongovernmental Systems of Labor Standards and Monitoring’ Name Index

Read more less

Book SynopsisThe two volumes incorporate major new papers contributed by leading international economists, on a range of topics that reflect the breadth of Professor Lloyd's own distinguished contributions to the field of international trade and policy during a career spanning over four decades. This first volume, Trade Theory, Analytical Models and Development, comprises 11 essays offering new contributions on the following topics: trade and wages factor endowments, factor mobility and political economy of trade optimality of tariffs measurement of welfare customs union theory endogenous mergers and tariffs intra-industry trade state trading enterprises and trade liberalisation general equilibrium effects of e-Commerce, and trade economic growth with production and consumption externalities environmental pollution and resource degradation. The diversity of the topics covered by the contributors will appeal to international economists, and particularly to those with an interest in international trade theory and applications.Trade Review'These two volumes, ably organised and edited by Sisira Jayasuriya, are a fitting testimony to the remarkable and consistently high academic productivity of Professor Peter Lloyd over almost four decades. . . The contents are organised around his many and diverse contributions to the fields of international trade theory and policy. . . An excellent short introduction by Sisira Jayasuriya summarises the evolution of Peter Lloyd's academic career from a "boy from the bush" in New Zealand to a pre-eminent trade economist.' -- Bulletin of Indonesian Economic Studies'This is a superb compilation of papers by leading economists on a well-chosen range of topics in international economics. The collection as a whole offers a good balance of theory, quantitative analysis and policy. A fitting tribute to a great economist - Peter Lloyd, and a must read for academic economists and practitioners alike.' -- Prema-chandra Athukorala, Australian National University'Peter Lloyd has been a prolific and influential contributor to international trade theory and to rigorous policy analysis in several fields, mostly in applied microeconomics. Here is an impressive collection of papers on trade theory and his other interests by leading economists written in his honour.' -- W. Max Corden, The Johns Hopkins University, US'33 distinguished contributors spread across four continents are to be congratulated for these high-quality and stimulating sets of essays. The range of issues covered is remarkably comprehensive: trade theory and policy; trade and market structure; WTO issues, trade negotiations and regional integration; trade and poverty; political economy; and empirical investigations. The essays are a fitting testimony to the consistently creative, rigorous and path-breaking work of Peter Lloyd in these and related areas over a period spanning nearly 40 years.' -- Hal Hill, Australian National UniversityTable of ContentsContents: Introduction Part I: Real Trade Theory 1. Real Wages and Trends: Insights from Extreme Examples 2. The Factor Scarcity (Abundance) Hypothesis, Factor Mobility, and the Political Economy of International Trade Policy Part II: Theory of Trade Policy 3. Are Uniform Tariffs Optimal? 4. On the Measurement of Welfare Changes at Second-best Optima 5. Pareto-Optimal Customs Unions with Transfers Part III: Trade and Market Structure 6. Endogenous Mergers and Tariffs in an Integrated Market 7. What Have We Learned from a Generation’s Research on Intra-Industry Trade? 8. Reforming Trade-distorting State Trading Enterprises Part IV: New Applications of Trade Theory 9. Consumption and Production Externalities in a Small Open Economy with Accumulating Capital 10. Explaining a Dynamic CGE Simulation with a Trade-focused Back-of-the-Envelope Analysis: The Effects of eCommerce on Australia 11. Trade Liberalization, Resource Degradation and Industrial Pollution in Developing Countries Index

Read more less

Book SynopsisThe two volumes incorporate major new papers contributed by leading international economists, on a range of topics that reflect the breadth of Professor Lloyd's own distinguished contributions to the field of international trade and policy during a career spanning over four decades. This second volume, Trade Policy Reforms and Development, comprises 11 essays offering new contributions on the following topics: globalisation and political economy of trade trade, labour standards and economic crisis the changing role of the WTO• competition policy and the WTO choice of formulas for market access negotiations• regionalism and bilateralism in ASEAN ANZUS free trade agreement new criteria for optimum currency areas trade policy and poverty in Asia impact of agricultural trade reforms on poverty recent behaviour of US imports. The diversity of the topics covered by the contributors will appeal to those interested in the global trading system, and to development economists, particularly in Asia.Trade Review'These two volumes, ably organised and edited by Sisira Jayasuriya, are a fitting testimony to the remarkable and consistently high academic productivity of Professor Peter Lloyd over almost four decades. . . The contents are organised around his many and diverse contributions to the fields of international trade theory and policy. . . An excellent short introduction by Sisira Jayasuriya summarises the evolution of Peter Lloyd's academic career from a "boy from the bush" in New Zealand to a pre-eminent trade economist.' -- Bulletin of Indonesian Economic Studies'This is a superb compilation of papers by leading economists on a well-chosen range of topics in international economics. The collection as a whole offers a good balance of theory, quantitative analysis and policy. A fitting tribute to a great economist - Peter Lloyd, and a must read for academic economists and practitioners alike.' -- Prema-chandra Athukorala, Australian National University'Peter Lloyd has been a prolific and influential contributor to international trade theory and to rigorous policy analysis in several fields, mostly in applied microeconomics. Here is an impressive collection of papers on trade theory and his other interests by leading economists written in his honour.' -- W. Max Corden, The Johns Hopkins University, US'33 distinguished contributors spread across four continents are to be congratulated for these high-quality and stimulating sets of essays. The range of issues covered is remarkably comprehensive: trade theory and policy; trade and market structure; WTO issues, trade negotiations and regional integration; trade and poverty; political economy; and empirical investigations. The essays are a fitting testimony to the consistently creative, rigorous and path-breaking work of Peter Lloyd in these and related areas over a period spanning nearly 40 years.' -- Hal Hill, Australian National UniversityTable of ContentsContents: Introduction Part I: Political Economy 1. Globalization and the Political Economy of International Trade Policy Part II: WTO Issues and Trade Negotiations 2. The Economic Crisis, Labour Standards and Trade Performance in East Asia 3. Challenges Facing the WTO: Determining its Role in International Affairs 4. The Interaction between Trade and Competition Policy: Post-Doha Communications to the WTO Working Group 5. Choosing Formulas for Market Access Negotiations: Efficiency and Market Access Considerations Part III: Regional Integration 6. Regionalism and Bilateralism in ASEAN 7. ANZUS Free Trade Agreements: Results from a Global Model 8. New Criteria for Optimum Currency Areas Part IV: Trade and Poverty Reduction 9. Agricultural Trade Reform and Poverty Reduction in Developing Countries 10. Industrialization, Trade Policy and Poverty Reduction: Evidence from Asia Part V: Empirical Investigations in Trade 11. The Surge in US Imports, 1995–2001 Index

Read more less

Book SynopsisThe principal message of this book is that international financial enterprises must be reoriented towards funding productive activities rather than potentially destabilizing speculation. The effects of financial sector operations are addressed with serious warnings that the dangers of speculative destabilization are increasing as regulatory and market discipline gradually weakens.The Structural Foundations of International Finance examines the ways in which national economies, especially those of industrialized countries, are affected by the operations of international financial markets. Although these markets provide productive funding, there is also much speculative trading in stocks and currencies which can cause booms, slumps and hinder recovery. The authors advocate entrepreneurial coordination by productive enterprises for balanced and stable growth, with reduced risks of financial crises and recessions.This topical and highly engaging book will be invaluable for academics and students of business, economics, political economy, international relations and law.Table of ContentsContents: Foreword Preface 1. Economic Structures and Finance 2. From Overlending to Crisis, to a New International Financial Regime? Lessons from the 1990s 3. Analytical Perspectives on the Varieties of Capitalism and Structural Interdependencies: Implications for Multinational Business Finance 4. Financial Institutions and Financial Markets: The Emergence of a New Class of Universal Banks 5. International Banking Regulation 6. Technology, Productivity and Structural Change 7. Cracks in the Façade: American Economic and Financial Structures after the Boom 8. Industry and Finance in the EU: Integration, Enlargement and Economic Performance 9. Japanese Economic Structures and Finance: Characteristics and Causes of the Current Slowdown 10. Real Economies and Financial Sectors in Industrializing Countries 11. International Structural Cooperation and Financial Architecture Index

Read more less

Book SynopsisEurope's achievements in economic integration have attracted worldwide interest and are seen as an example for other regions to follow. Ten years after the completion of the Single Market Programme, this book is able to utilise empirical data not available to previous studies, also building on research by reputed academic experts and staff at the European Commission. The book reveals that European product market integration has a significant impact on the conditions of competition, the strategies of companies and the structure of industry. It adds a quarter of a percentage to annual GDP growth rates and has not led to an increased exposure of the EU to asymmetric shocks. However, the book argues that further improvements in the functioning of European product markets are needed in order to improve the EU's growth performance over the next decade. Invaluably, the book provides not only current information about Europe's achievements in economic integration but also methodology to assess the outcome of economic integration in other regions of the World, such as NAFTA, MERCOSUR and ASEAN.Offering a uniquely up-to-date and comprehensive empirical analysis and assessment of the European integration process, this book will be of great use and interest to international institutions and NGOs as well as researchers and scholars of European studies and economics.Table of ContentsContents: Foreword 1. Product Market Integration in the EU: An Overview Part I: Microeconomic Issues 2. The Impact of a Single Currency in Europe on Product Markets: Theory and Evidence 3. Changes in the Industrial and Geographical Diversification of Leading Firms in European Manufacturing 4. Industrial Concentration, Market Integration and Efficiency in the European Union 5. The Location of European Industry Part II: Macroeconomic Issues 6. Product Market Reforms and Macroeconomic Performance in the European Union 7. The Sensitivity of European Sectors to Exchange Rate Fluctuations 8. Product Market Integration and EU Exposure to Euro/Dollar Fluctuations Index

Read more less

Book SynopsisInternational institutions and formal international organizations lie at the heart of the new global economy. International economic interactions occur within a framework of norms, rules and organizations, and an appreciation of this institutionalization is essential for understanding the functioning of the new global economy. The growth of the institutional framework has attracted extensive attention from political scientists, who in recent years have developed more nuanced theories of the international organizations' form, function and effects, and have begun to subject these theories to systematic empirical scrutiny. For this significant collection Lisa Martin has brought together the most important articles, published since 1982, on the role of institutions in the global economy and has provided a scholarly new introduction which gives a comprehensive overview of the subject.Trade Review‘International Institutions in the New Global Economy is a comprehensive collection of scholarship on international economic institutions. The articles in this compendium cover a wide range of perspectives, and a wealth of empirical applications. Together they provide a wide-ranging and far-reaching set of analyses of international economic institutions. The collection will be extremely useful to all scholars of international politics and economics.' -- Jeffry A. Frieden, Harvard University, USTable of ContentsContents: Acknowledgements Introduction Lisa L. Martin 1. Robert O. Keohane (1982), ‘The Demand for International Regimes’ 2. Paul R. Milgrom, Douglass C. North and Barry R. Weingast (1990), ‘The Role of Institutions in the Revival of Trade: The Law Merchant, Private Judges, and the Champagne Fairs’ 3. Robert O. Keohane (1990), ‘Multilateralism: An Agenda for Research’ 4. John Gerard Ruggie (1992), ‘Multilateralism: The Anatomy of an Institution’ 5. Lisa L. Martin (1993), ‘Credibility, Costs, and Institutions: Cooperation on Economic Sanctions’ 6. Robert Powell (1994), ‘Anarchy in International Relations Theory: The Neorealist-Neoliberal Debate’ 7. James D. Morrow (1994), ‘Modeling the Forms of International Cooperation: Distribution versus Information’ 8. Kenneth W. Abbott and Duncan Snidal (1998), ‘Why States Act through Formal International Organizations’ 9. James D. Fearon (1998), ‘Bargaining, Enforcement, and International Cooperation’ 10. John R. Oneal and Bruce Russett (1999), 'The Kantian Peace: The Pacific Benefits of Democracy, Interdependence, and International Organizations, 1885–1992’ 11. Strom C. Thacker (1999), 'The High Politics of IMF Lending' 12. Kyle Bagwell and Robert W. Staiger (1999), ‘An Economic Theory of GATT’ 13. Michael N. Barnett and Martha Finnemore (1999), ‘The Politics, Power, and Pathologies of International Organizations’ 14. Monika Bütler and Heinz Hauser (2000), ‘The WTO Dispute Settlement System: A First Assessment from an Economic Perspective’ 15. Liliana Botcheva and Lisa L. Martin (2001), ‘Institutional Effects on State Behavior: Convergence and Divergence’ 16. Thomas H. Oatley (2001), ‘Multilateralizing Trade and Payments in Postwar Europe’ 17. B. Peter Rosendorff and Helen V. Milner (2001), ‘The Optimal Design of International Trade Institutions: Uncertainty and Escape’ 18. Alastair Iain Johnston (2001), ‘Treating International Institutions as Social Environments’ 19. Daniel L. Nielson and Michael J. Tierney (2003), ‘Delegation to International Organizations: Agency Theory and World Bank Environmental Reform’ Name Index

Read more less

Book SynopsisThe establishment of a multilateral international trading regime is one of the great achievements of post-1945 international diplomacy.The focus of this collection is the history of the international trading system over the past two centuries. Volume I includes an overview of the subject area as well as sections considering the effects of war and peace, the late nineteenth-century backlash, and contemporary views of interwar disintegration. Volume II looks at the issues of hegemony, non-discrimination and reciprocity. It also covers customs unions, preferential trading agreements, trade wars and trade rivalry.This comprehensive two-volume set will be an invaluable source of reference on the origins of globalization.Trade Review'Kevin O'Rourke's selection of papers on nineteenth and twentieth century trade policy, providing essential reading for researchers in the field, is educative even for those already steeped in the subject and fundamental for understanding present day trade conflicts.' -- James Foreman-Peck, Cardiff Business School, UKTable of ContentsContents: Volume I Acknowledgements Introduction Kevin H. O’Rourke PART I OVERVIEWS 1. C.P. Kindleberger (1975), ‘The Rise of Free Trade in Western Europe, 1820–1875’ 2. Alan Milward (1981), ‘Tariffs as Constitutions’ 3. John H. Coatsworth and Jeffrey G. Williamson (2004), ‘The Roots of Latin American Protectionism: Looking before the Great Depression’ 4. Charles P. Kindleberger (1989), ‘Commercial Policy between the Wars’ 5. Douglas A. Irwin (1995), ‘The GATT’s Contribution to Economic Recovery in Post-War Western Europe’ PART II WAR AND PEACE 6. François Crouzet (1964), ‘Wars, Blockade, and Economic Change in Europe, 1792–1815’ 7. Paul W. Schroeder (1986), ‘The 19th-Century International System: Changes in the Structure’ 8. Carl Strikwerda (1993), ‘The Troubled Origins of European Economic Integration: International Iron and Steel and Labor Migration in the Era of World War I’ 9. Paul W. Schroeder (1993), ‘Economic Integration and the European International System in the Era of World War I’ 10. Carl Strikwerda (1993), ‘Response to “Economic Integration and the European International System in the Era of World War I”’ 11. Charles H. Feinstein, Peter Temin and Gianni Toniolo (1997), ‘The Legacy of the First World War’ PART III LATE NINETEENTH CENTURY BACKLASH 12. C.P. Kindleberger (1951), ‘Group Behavior and International Trade’ 13. Kevin H. O’Rourke (1997), ‘The European Grain Invasion, 1870–1913’ 14. Ashley S. Timmer and Jeffrey G. Williamson (1998), ‘Immigration Policy Prior to the 1930s: Labor Markets, Policy Interactions, and Globalization Backlash’ 15. Jeffrey G. Williamson (1998), ‘Globalization, Labor Markets and Policy Backlash in the Past’ PART IV CONTEMPORARY VIEWS OF INTERWAR DISINTEGRATION 16. League of Nations (1942), ‘An Analysis of the Reasons for the Success or Failure of International Proposals’ 17. Karl Polanyi (1944), ‘The Hundred Years’ Peace’ and ‘Conservative Twenties, Revolutionary Thirties’ Name Index Volume II Acknowledgements An introduction by the editor to both volumes appears in Volume I PART I HEGEMONY 1. Charles P. Kindleberger (1973), ‘An Explanation of the 1929 Depression’ 2. Stephen D. Krasner (1976), ‘State Power and the Structure of International Trade’ 3. Arthur A. Stein (1984), ‘The Hegemon’s Dilemma: Great Britain, the United States, and the International Economic Order’ 4. Timothy J. McKeown (1983), ‘Hegemonic Stability Theory and 19th Century Tariff Levels in Europe’ 5. Patrick K. O’Brien and Geoffrey Allen Pigman (1992), ‘Free Trade, British Hegemony and the International Economic Order in the Nineteenth Century’ 6. John Gallagher and Ronald Robinson (1953), ‘The Imperialism of Free Trade’ 7. D.C.M. Platt (1968), ‘The Imperialism of Free Trade: Some Reservations’ PART II NON-DISCRIMINATION AND RECIPROCITY 8. Douglas A. Irwin (1993), ‘Multilateral and Bilateral Trade Policies in the World Trading System: An Historical Perspective’ 9. David Lazer (1999), ‘The Free Trade Epidemic of the 1860s and Other Outbreaks of Economic Discrimination’ 10. H. Van V. Fay (1927), ‘Commercial Policy in Post-War Europe: Reciprocity versus Most-Favored-Nation Treatment’ 11. Jagdish N. Bhagwati and Douglas A. Irwin (1987), ‘The Return of Reciprocitarians – US Trade Policy Today’ PART III CUSTOMS UNIONS AND PREFERENTIAL TRADING AGREEMENTS 12. Jacob Viner (1950), ‘Political Aspects of Customs Union’ 13. W.O. Henderson (1984), ‘Conclusion’ 14. W.O. Henderson (1981), ‘The German Zollverein and the European Economic Community’ 15. Rolf H. Dumke (1994), ‘The Political Economy of the Foundation of the Zollverein’ PART IV TRADE WARS AND TRADE RIVALRY 16. John Conybeare (1985), ‘Trade Wars: A Comparative Study of Anglo-Hanse, Franco-Italian, and Hawley-Smoot Conflicts’ 17. Douglas A. Irwin (1991), ‘Mercantilism as Strategic Trade Policy: The Anglo-Dutch Rivalry for the East India Trade’ Name Index

Read more less

Book SynopsisThis absorbing book examines the period of massive structural adjustment taking place in the wine industry. For many centuries wine was very much a European product. While that is still the case today - three-quarters of world wine production, consumption and trade involve Europe and most of the rest involves just a handful of New World countries settled by Europeans - the importance of exports from non-European countries has risen dramatically over the past decade. The World's Wine Markets includes an in-depth look at the growth and impact of New World wine production on the Old World producers, revealing that between 1990 and 2001, the New World's combined share of world wine exports grew from 4 to 18 per cent, or from 10 to 35 per cent when intra-European Union trade is excluded. Original essays, by economists from each of the major wine producing and consuming regions in the world, analyse recent developments and future trends, and conclude that globalization of the industry is set to continue for the foreseeable future. Furthermore they argue that with increasing globalization, there is a greater need than ever for systematic analysis of the world's wine markets.This fascinating work will appeal greatly to students enrolled in wine marketing and business courses, those studying industrial organization, and economists and other social scientists interested in case studies of globalization at work. As well, wine industry participants interested in understanding the reasons behind the recent dramatic developments in the industry will find this rigorously analytical yet accessible book of great value.Trade Review'This text provides a comprehensive overview of the global wine industry. The book has two primary components. The first evaluates trends in global wine production, consumption, and trade. The second evaluates these trends for major wine-producing and wine-consuming countries. As a whole, the book is an invaluable resource for those seeking to understand today's wine industry and the factors influencing its future direction. . . . The World's Wine Markets provides an excellent overview of the worldwide wine industry that is enhanced by the detailed case studies of major wine producers and consumers.' -- Rachel E. Goodhue, Agribusiness'This book is a useful contribution to the literature on wine, in large part because it offers a global picture of recent vintage.' -- Brian Holly, Growth & Change'This is a useful work, which provides a comprehensive overview of the world's wine markets. Its particular strengths are its global coverage, its focus on both production and consumption, and the large number of charts and tables with which the volume is replete. With authors drawn from across the world, the book provides interesting national perspectives on the practice of globalization. It will be of undoubted use to students and those in the wine trade who need easily accessible information on this most fascinating of global markets.' -- Tim Unwin, Royal Holloway, University of London, UK and Editor, Journal of Wine Research'World wine trade is undergoing the most radical transformation since the 1970s: New protagonists have helped to push markets' boundaries ever further afield in a world that has become a smaller place. This timely book offers a valuable collection of insights by academics into the gripping fight between seasoned performers from the Old World and their young pretenders from the New.' -- Pierre Spahni, author of The International Wine Trade (1995, 2000)

Read more less

Book SynopsisIn an increasingly globalised world, it is becoming ever more difficult for nation states to adapt to the international consequences of market failures, government failures and global externalities without co-operation and co-ordination with other countries. In the absence of any form of world government, the most effective solution to this problem is either to create new international institutions, reform existing ones or work within the prevailing institutional framework.This book presents a critical analysis of the role of international institutions and their performance in terms of justification, effectiveness and efficiency. The authors begin by discussing the controversies surrounding the Tobin Tax in the context of global governance. They move on to address important global issues where international institutions play a significant role. These include trade and FDI in relation to the WTO, and the reconciliation of order and justice in the international trading system. Further chapters investigate development issues and international institutions, most of which were not designed for the specific needs of developing countries. They assess whether international institutions can actually help to mitigate the tendency of uneven development in the global economy. Finally, the focus switches to the analysis and evaluation of one specific institution and its actions, namely, the Bank for International Settlements (BIS). This important theoretical and empirical analysis of the problems relating to the creation, evolution and role of international institutions will be of interest and value to academics and researchers of international trade, international economics, international relations and economic development.Table of ContentsContents: Preface Introduction 1. Global Market, National Sovereignty and International Institutions 2. The Tobin Tax Revisited in the Context of Global Governance on Capital Markets 3. The WTO System and Foreign Direct Investment: A Policy Challenge 4. Order and Justice in the International Trade System 5. Some Proposals to Adapt International Institutions to Developmental Needs 6. Globalization, North–South Uneven Development and International Institutions 7. Comment on ‘Globalization, North–South Uneven Development and International Institutions’ 8. The Bank for International Settlements: Which Activities can be Justified from a Normative Economic Perspective? 9. Basle II: Quantitative Impact Study on Small and Medium-sized Enterprises in Austria 10. Basle Accord and Macroeconomic Activity Index

Read more less

Book SynopsisRecent crises in emerging markets have raised doubts about the desirability of relaxing controls on capital mobility. George Fane, however, uses evidence from the crises in Asia and Latin America to reassert the traditional case that such controls are an excessively blunt instrument for achieving financial stability.This book argues that recent official proposals for reforming the 'international financial architecture' are also unlikely to reduce the frequency of currency and financial crises to an acceptable level. The author proposes an alternative plan to achieve greater financial stability: banks should have to double the currently accepted percentage of capital to risk-weighted assets from 8 to 16 percent and the risk-weights for loans to emerging markets should also be raised substantially the financial sectors in emerging markets should be fully opened to foreign competition bankruptcy procedures in emerging markets should be greatly strengthened central banks should adopt flexible exchange rates, backed by credible targets for inflation or monetary growth. If flexible exchange rates are not adopted, central banks should at least avoid the widespread practice of trying to sterilise the monetary effects of capital flows The author argues that the implementation of this plan will be a far more effective way of enhancing financial stability than controlling international capital flows, or trying to force private lenders to make new loans to countries that suffer crises.This book will be required reading for scholars and policymakers in the areas of international financial economics, financial regulation, development economics and Asian studies.Trade Review'This book is a significant and useful addition to the existing literature on the subject. . . it is a well documented study of the capital mobility and economic crises. It deals with highly topical subjects and recent events in a clear, accessible way. It gives an interesting and valuable insight into the very important issue in the international financial system. I strongly recommend the book for all those interested in the international financial market.' -- Zhaoyong Zhang, Economic Record'This excellent book deals not only with capital market liberalization, capital controls, and recent crises, but also with the implications of international capital mobility for monetary and exchange rate policies, and for reform of the "international architecture". On the basis of Fane's specialist knowledge it is particularly informative on capital market and exchange rate policies in East Asian developing economies. Fane analyzes highly topical subjects and recent events in a very clear, accessible way. The book can be strongly recommended both as a university text and as a reference for all interested in international financial markets.' -- W. Max Corden, Johns Hopkins University, USTable of ContentsContents: Preface 1. Introduction 2. Capital Controls and Exchange Controls 3. Capital Controls and Crisis Prevention: Four Case Studies 4. First and Second- Best Arguments for Capital Controls 5. Speculative Crises, Default and Contagion 6. Banks, Moral Hazard and Prudential Regulations 7. Monetary and Exchange Rate Policies 8. The Credibility of Monetary and Exchange Rate Policies 9. Reforming the International Financial Architecture References Index

Read more less

Book SynopsisRecalling the Lisbon strategy defining structural reform in the EU, and stressing the need to integrate the acceding countries in the reform process, this book argues that meeting the ambitious challenges set is not impossible. It scrutinises both reforms already undertaken and those yet to be tackled.The main thrust of the book is that the sharing of mutual experiences is important for generating an acceptable policy mix, both at EU and national levels. The contributors highlight key financial issues, including the role of FDI and of foreign banks in the still 'under-banked' acceding countries, the re-launch of social security systems and the fiscal challenges of financing the catch-up process. They also examine the ongoing EU debate surrounding the application of the Stability and Growth Pact in Central and Eastern European Countries (CEECs) and go on to explore the contrasting evidence that some CEECs have shown more extensive privatisation efforts than some EU countries.Linking general theory and empirical research with practical evidence from EU and acceding countries, this accessible volume will be invaluable to a wide-ranging readership, encompassing economists and specialists - whether academic or professional - in the fields of CEECs and European integration and enlargement, as well as governments, banks and international organisations.Trade Review'This is a very timely and valuable set of studies by a distinguished group of scholars and practitioners on the subject of economic convergence and divergence in Europe. Not surprisingly given the high calibre of the contributors, the quality of the individual chapters is very high, making this an impressive volume which I recommend without reservation. The book combines both sophisticated theoretical appraisals of the central questions relating to convergence and divergence in Europe, together with incisive analyses of the policy implications for individual countries and for the wider Europe. It is of great topical relevance, because it addresses these issues in the context of impending EU enlargement and also in relation to economic and monetary union (a substantial number of contributors hold very senior positions in European national banks and two in the European Central Bank). The writing style is clear and accessible and therefore the book should appeal to both specialists and non-specialists. Indeed, it deserves to command a wide audience (including students, academics, policy analysts and practitioners). The contributors must be congratulated on producing an incisive, wide ranging and accessible analysis of the key issues relating to economic convergence and divergence in Europe.' -- Robert A. Jones, Sheffield Hallam University, UK'Based on the Autumn 2002 East-West Conference in Vienna, an excellent annual event organised by the Austrian National Bank, this volume deals comprehensively (in 8 parts and 29 chapters) with socio-economic structural challenges facing an expanding EU. Issues covered include: competitiveness and the Lisbon goals; financial sector development; financing enlargement and catching up; tax, benefits and welfare reform; enterprise sector reform; the adequacy of the policy mix; and looking to the future. An ambitious agenda and a big book that will attract widespread readership from academics and their students, practitioners and policymakers.' -- Andrew W. Mullineux, Bournemouth University, UKTable of ContentsContents: Introduction: Structural Reform and Competitiveness – the Position and Future of an Integrated Europe Foreword by Klaus Liebscher Part I: Structural Reforms and Competitiveness: Where Does Europe Stand Today? Part II: Financial Sector Development Part III: Financing of Enlargement and Catching Up Part IV: Social Security Reform Part V: Taxes and Benefits/Fiscal Structures Part VI: Enterprise Sector Reform/Network Industries Part VII: The Adequate Policy Mix Part VIII: Looking into the Future – Europe’s Position in the World Economy in 2020 Index

Read more less

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

Read more less

Book SynopsisThe Governance of World Trade focuses on the roles, influence and impacts of the so-called 'GATT operatives' or WTO practitioners. It is widely assumed that they have little influence on decisions and policies made, but, according to the authors, the GATT/WTO Secretariat has played an active role in promoting multilateral cooperation.This unique study of the internal operation of the GATT/WTO argues that the invisible yet indispensable international civil servants are the permanent machinery within the institution. They have, the authors ascertain, an important coordinating function and act according to a specific scale of values that transcend those of individual states, providing the continuity and the cement, the credibility and the connection among self-interest-driven states. The book concludes that as one of the most 'democratic' international organizations, operating on the principle of consensus, the WTO needs a creative Secretariat as a necessary condition for multilateral cooperation to work.Using case studies to analyse the workings of Secretariat officials in trade negotiations, and the influence and role of international civil servants, this book will be a fascinating read for a wide ranging audience including: political scientists and economists, international civil servants, think tanks, NGOs, and government agencies.Table of ContentsContents: 1. The Secretariat of the World Trade Organization: An Invisible Power? 2. International Civil Servants Part I: The GATT 3. Development of the Multilateral Trade System 4. The Uruguay Round Part II: New Issues 5. Negotiating Trade in Services 6. Negotiating Trade-Related Aspects of Intellectual Property Rights Part III: Institutions 7. Negotiating the Dispute Settlement Understanding 8. Negotiating the Functioning of the GATT System 9. The World Trade Organization: The Secretariat and its Influence Appendix: Structure of the GATT and the WTO Secretariats Bibliography Index

Read more less

Book SynopsisThe IMF, the World Bank and GATT/WTO have had to adapt to changing circumstances in the past 60 years as they guided the world economy to growing interdependence and prosperity. Now they face several simultaneous challenges. In this book, David Robertson discusses the rise of new economic players, including proliferating NGOs, self-promoting UN agencies and 'emerging' economies (such as Brazil, China and India), which call into question the management of G7 governments. This volume assesses the future of international economic relations as economic imbalances are exacerbated by these developments and by changing international alliances. The author also considers the interests of small developing countries, which are acting collectively to seek 'a place at the table', as well as more preferential treatment. International socialism has re-invented itself as 'participatory democracy', which is employed by 'civil society' to challenge inter-governmental agencies. The future of international economic integration will depend on how these developments affect trade, finance, aid and development policies.Providing a review of international economic relations, while taking account of political, environmental and social issues, this analytical assessment of anti-globalisation forces will be of interest to anyone concerned with international affairs.Trade Review'David Robertson does an excellent job identifying and analysing the various parties involved in shaping the international economy. . . Robertson provides an important insight into the costs of protectionist policies and the anti-globalisation movement.' -- Christopher J. Coyne, Economic Affairs'This volume must be read and recommended to the policy makers of developed and developing countries alike.' -- Global Business Review'In a world in which noisy anti-globalization groups get huge media attention, it is refreshing to read this more-measured analysis of the interface between international economics and politics, and of the positive role institutions such as the WTO can play to improve our lot.' -- Kym Anderson, The World Bank, US'David Robertson is an expert guide on the intricacies of international trade politics, the WTO, and so-called civil society. This valuable book incisively cuts through the rhetoric surrounding international trade and should be read by all who care about the future of the world trading system.' -- Douglas A. Irwin, Dartmouth College, USTable of ContentsContents: Preface 1. International Political Economy 2. Internationalism: In the Beginning. . . 3. Trade Relations 4. Trade and Development 5. The WTO and the Doha Round 6. The Regional Trade Alternative 7. Promoting Economic Development 8. Globalization and Civil Society 9. A System Under Siege 10. Economics and International Politics Index

Read more less

Book SynopsisThis two-volume set contains a careful selection of the most significant papers on anti-dumping. These important articles have not only shaped the policy debate in this area but have also substantially influenced how we think about the use and role of anti-dumping in trade relations today. After an initial look at some classic articles, the collection provides an overview of the past two decades of academic research on this subject. The contributions are both empirical and theoretical with the emphasis being on the economic rather than the legal analysis involved. The volumes make these papers easily accessible to a wide audience, including academics, policymakers and all those concerned with anti-dumping issues.Table of ContentsContents: Volume I Acknowledgements Introduction Douglas R. Nelson and Hylke Vandenbussche PART I EXPLAINING DUMPING: CLASSIC REFERENCES 1. Jacob Viner (1923), ‘The Definition of Dumping’, ‘The Classification of Dumping’, ‘The Influence of Dumping on Prices in the Dumping Country’, ‘The Consequences of Dumping to the Importing Country’ and ‘Ordinary Protective Tariffs as Safeguards against Dumping’ 2. Theodore O. Yntema (1928), ‘The Influence of Dumping on Monopoly Price’ 3. Joan Robinson (1933), ‘Price Discrimination’ and ‘The Moral of Price Discrimination’ 4. Gottfried von Haberler (1936), ‘Dumping, Cartels, Monopolies, and Export Bounties’ PART II EXPLAINING DUMPING: MODERN ANALYSIS 5. James Brander and Paul Krugman (1983), ‘A “Reciprocal Dumping” Model of International Trade’ 6. Wilfred J. Ethier (1982), ‘Dumping’ 7. James E. Anderson (1992), ‘Domino-Dumping I: Competitive Exporters’ 8. Richard H. Clarida (1993), ‘Entry, Dumping, and Shakeout’ PART III ECONOMIC EFFECTS OF DUMPING 9. Richard Boltuck (1991), ‘Assessing the Effects on the Domestic Industry of Price Dumping’ 10. Robert D. Willig (1998), ‘Economic Effects of Antidumping Policy’ 11. Kenneth H. Kelly and Morris E. Morkre (1998), ‘Do Unfairly Traded Imports Injure Domestic Industries?’ PART IV ECONOMIC EFFECTS OF ANTI-DUMPING 12. J. Michael Finger (1992), ‘Dumping and Antidumping: The Rhetoric and the Reality of Protection in Industrial Countries’ 13. Michael P. Leidy and Bernard M. Hoekman (1990), ‘Production Effects of Price- and Cost-based Anti-dumping Laws under Flexible Exchange Rates’ 14. Robert W. Staiger and Frank A. Wolak (1992), ‘The Effect of Domestic Antidumping Law in the Presence of Foreign Monopoly’ 15. James D. Reitzes (1993), ‘Antidumping Policy’ 16. Simon P. Anderson, Nicolas Schmitt and Jacques-François Thisse (1995), ‘Who Benefits from Antidumping Legislation?’ 17. Michael P. Gallaway, Bruce A. Blonigen and Joseph E. Flynn (1999), ‘Welfare Costs of the U.S. Antidumping and Countervailing Duty Laws’ 18. Hylke Vandenbussche, Reinhilde Veugelers and Jozef Konings (2001), ‘Unionization and European Antidumping Protection’ PART V INDUSTRY STUDIES OF THE IMPACT OF ANTI-DUMPING 19. Stefanie Lenway, Kathleen Rehbein and Laura Starks (1990), ‘The Impact of Protectionism on Firm Wealth: The Experience of the Steel Industry’ 20. Robert W. Staiger and Frank A. Wolak (1994), ‘Measuring Industry-Specific Protection: Antidumping in the United States’ 21. Corinne M. Krupp and Patricia S. Pollard (1996), ‘Market Responses to Antidumping Laws: Some Evidence from the U.S. Chemical Industry’ Name Index Volume II Acknowledgements An introduction by the editors to both volumes appears in Volume I PART I VERTICAL INDUSTRY LINKS IN DUMPING AND ANTI-DUMPING 1. Bernard M. Hoekman and Michael P. Leidy (1992), ‘Cascading Contingent Protection’ 2. Robert M. Feinberg and Seth Kaplan (1993), ‘Fishing Downstream: The Political Economy of Effective Administered Protection’ 3. Daniel M. Bernhofen (1995), ‘Price Dumping in Intermediate Good Markets’ PART II ANTI-DUMPING WITH FDI 4. Bruce A. Blonigen and Yuka Ohno (1998), ‘Endogenous Protection, Foreign Direct Investment and Protection-Building Trade’ 5. René A. Belderbos (1997), ‘Anti-dumping and Tariff Jumping: Japanese Firms’ DFI in the European Union and the United States’ 6. Jan I. Haaland and Ian Wooton (1998), ‘Anti-dumping Jumping: Reciprocal Antidumping and Industrial Location’ PART III ANTI-DUMPING AND COMPETITION POLICY 7. Patrick A. Messerlin (1994), ‘Should Anti-dumping Rules be Replaced by National or International Competition Rules?’ 8. Klaus Stegemann (1990), ‘EC Antidumping Policy: Are Price Undertakings a Legal Substitute for Illegal Price Fixing?’ 9. Reinhilde Veugelers and Hylke Vandenbussche (1999), ‘European Anti-dumping Policy and the Profitability of National and International Collusion’ 10. Hyun Ja Shin (1998), ‘Possible Instances of Predatory Pricing in Recent U.S. Antidumping Cases’ PART IV IMPLEMENTATION ISSUES IN ANTI-DUMPING 11. Alan O. Sykes (1996), ‘The Economics of Injury in Antidumping and Countervailing Duty Cases’ 12. Edwin Vermulst and Paul Waer (1991), ‘The Calculation of Injury Margins in EC Anti-Dumping Proceedings’ 13. P.K.M. Tharakan, David Greenaway and Joe Tharakan (1998), ‘Cumulation and Injury Determination of the European Community in Antidumping Cases’ 14. Thomas J. Prusa (1992), ‘Why Are So Many Antidumping Petitions Withdrawn?’ PART V POLITICAL ECONOMY OF ANTI-DUMPING: THEORY 15. H. Keith Hall and Douglas Nelson (1992), ‘Institutional Structure in the Political Economy of Protection: Legislated v. Administered Protection’ 16. James E. Anderson (1994), ‘Strategic Lobbying and Antidumping’ 17. B. Peter Rosendorff (1996), ‘Voluntary Export Restraints, Antidumping Procedure, and Domestic Politics’ PART VI POLITICAL ECONOMY OF ANTI-DUMPING: EMPIRICS 18. J.M. Finger, H. Keith Hall and Douglas R. Nelson (1982), ‘The Political Economy of Administered Protection’ 19. Wendy L. Hansen and Thomas J. Prusa (1997), ‘The Economics and Politics of Trade Policy: An Empirical Analysis of ITC Decision Making’ 20. Wendy L. Hansen and Kee Ok Park (1995), ‘Nation-State and Pluralistic Decision Making in Trade Policy: The Case of the International Trade Administration’ 21. P.K.M. Tharakan and J. Waelbroeck (1994), ‘Antidumping and Countervailing Duty Decisions in the E.C. and in the U.S.: An Experiment in Comparative Political Economy’ 22. Angelika Eymann and Ludger Schuknecht (1996), ‘Antidumping Policy in the European Community: Political Discretion or Technical Determination’ 23. Michael M. Knetter and Thomas J. Prusa (2003), ‘Macroeconomic Factors and Antidumping Filings: Evidence from Four Countries’ PART VII THE WTO: SPREAD OF ANTI-DUMPING AND CONTROL OF ANTI-DUMPING 24. J. Michael Finger and Kwok-Chiu Fung (1994), ‘Will GATT Enforcement Control Antidumping?’ 25. Thomas J. Prusa (2001), ‘On the Spread and Impact of Anti-dumping’ 26. Robert E. Baldwin (1998), ‘Imposing Multilateral Discipline on Administered Protection’ Name Index

Read more less

Book SynopsisThis book provides a broad quantitative analysis of the new facets of regionalism in the Americas. In particular, major aspects of the New American Regionalism are discussed in terms of two basic notions: the genuine political character of economic integration schemes, and the profound inter-connectedness of the American regions with the global economy.Heinz Preusse examines the recent experiences of the two main integration agreements in the Americas - the North American Free Trade Agreement (NAFTA) and the Mercado Comun del Sur/Sud (MERCOSUR), and discusses critical aspects of the envisaged Free Trade Area of the Americas (FTAA). He concludes that NAFTA has enjoyed a good internal economic record, but, externally it may have contributed to the rise of the present American 'spaghetti bowl' regionalism. In addition, MERCOSUR is stagnating and faces an uncertain future after what was a fairly successful start-up period. The author goes on to argue that under these conditions, the FTAA may be a chance for the formation of an open - and only moderately discriminatory - regional agreement in the Americas. He ascertains that the FTAA may therefore determine the fate of the New American Regionalism.Critically exploring the hypothesis that the New American Regionalism is growth-enhancing and conducive to the multilateral order, this book will appeal to academics, researchers and policymakers with a special interest in international economics, international politics, and regionalism.Trade Review'Preusse has written a well-researched book with a cogent theoretical framework that is also highly readable and informative. Without question, it makes a positive contribution to our understanding of the economic and political determinants of new RIAs such as NAFTA, MERCOSUR, and the proposed FTAA. The book should prove to be a valuable addition to advanced undergraduate courses and/or seminars dealing with current international trade and finance issues.' -- Miguel D. Ramirez, Journal of Regional Science'The heart of Professor Preusse's book deals with the two main integration agreements in the Americas, NAFTA and MERCOSUR, and the incipient FTAA. The handling of these three cases is masterful, replete with description, data, theoretical analysis, and opinion . . . His book is a most worthwhile and stimulating read, certainly for those interested in Western Hemisphere developments.' -- From the foreword by Sidney WeintraubTable of ContentsContents: Foreword by Sidney Weintraub Introduction 1. Regionalism between Politics and Economics 2. Globalization and Multilateralism 3. The Economics of the New Regionalism 4. The North American Free Trade Agreement (NAFTA) 5. MERCOSUR 6. The Free Trade Area of the Americas (FTAA) Bibliography Index

Read more less

Book SynopsisThis book brings together ten original studies on the transition and growth experience and the foundations for long-term growth of the newly independent states created by the dissolution of the Soviet Union.Beginning with an overview of the common pre-1992 background and comparative information on the post-1992 performance of the Commonwealth of Independent States (CIS) countries, the authors continue by reviewing the Soviet background and post-independence experience. They then emphasise both the uniformity and diversity of the twelve CIS countries' recent history. The problem of explaining economic growth in transition economies is also explored, and individual in-depth country studies are presented.The contributors to the book are a combination of in-country researchers with in-depth local knowledge and access to data, and international economists with technical expertise and experience of long-term growth in other countries. This approach ensures the book's appeal to academics and researchers of economic growth, transition and comparative economics. Economists assigned to the region or any individual CIS country will find the analysis invaluable.Trade Review'This useful volume features surveys of 10 of the 12 members of the Commonwealth of Independent States (CIS), the successor organisation to the USSR. . . I heartily recommend this book for all economists interested in the economic transition of the CIS.' -- Roy Gardner, Comparative Economic Studies'The country studies (and the editors' introduction) contain a wealth of statistical information that will be appreciated by many readers. . . Those interested in a broad overview will focus on the introduction and the conclusion, where the editors offer their synthesis of the ten country studies. This synthesis in itself is an important achievement that summarizes the wealth of country findings in a compact and easily readable format. Those who need more detail will greatly benefit from the in-depth treatment of the ten countries in the core chapters. The high level of scholarship of this volume ensures its usefulness, not only to academics and researchers specializing in transition, but also to development and comparative economists working on issues of economic growth. The specific country studies will be of value to economists assigned to the region by international organizations or to local economists interested to have a western perspective on developments in their countries. In summary, this is an important addition to the literature that summarizes the record of transition during the decade of the 1990s.' -- Zvi Lerman, Slavic Review'[This] book is to be commended for several reasons. First of all, it makes predominantly native research available to English speakers. Secondly, it has managed to provide separate chapters for as many as ten of the twelve members of the Commonwealth of Independent States and has not allowed its treatment of Russia to dominate the discussion. Thirdly, its approach to the theme of economic prospects is both country-oriented and comparative. And finally, it fulfills its remit in considering the future as well as the present.' -- W.V. Wallace, Slavonic and East European Review'Professors Gur Ofer and Richard Pomfret have created a volume in which timely and lucid combination of analyses, extensive information and clear-cut knowledge of what went wide of the mark during the 1990s in the Soviet bloc are all well presented. They offer economic and institutional analyses to help understand alternative routes to economic growth in the CIS.' -- Bruno S. Sergi, Economics of TransitionTable of ContentsContents: Preface 1. Introduction 2. Down and Up the Stairs: Paradoxes of Russian Economic Growth 3. Transition and Growth in Belarus 4. Ukraine: The Lost Decade . . . and the Coming Boom? 5. Barriers to Growth in Moldova 6. Explaining Growth in Armenia: The Pivotal Role of Human Capital 7. Turkmenistan: Economic Autocracy and Recent Growth Performance 8. The Uzbek Paradox: Progress without Neo-liberal Reform 9. Tajikistan’s Growth Performance: The First Decade of Transition 10. Economic Growth in Kyrgyzstan 11. Natural Resources and Economic Growth in Kazakhstan 12. Conclusions References Index

Read more less

Book SynopsisIn the face of an increasing threat from separate bilateral trade negotiations the World Trade Organization (WTO), more than any other international institution, is set to have a significant impact on the trade in technology in the decade ahead. Alert to this potential, Rohan Kariyawasam brings together articles on international economic law and policy that touch on issues as diverse as telecommunications, e-commerce, information technology and technology transfer. This two-volume set navigates an innovative discussion of these sectors, their effect on international trade and the role of the WTO in promoting the worldwide trade of electronic goods and services. The papers will have relevance for regulators, lawyers advising both in private practice and in-house, academics, students and those in the NGO sector with an interest in trade and technology.Trade Review'The selection of chapters is guaranteed to provide not just a multi-dimensional view of the WTO's real and perceived roles, and the aspirations which many people held for it, but also an historical view, with chapters going back to the mid-to-late 1990s. . . The cast of contributors is stellar, and more than a few of the "usual suspects" will be found between the covers. . . Well done, says the IPKat!' -- IPKat.com'. . . will appeal to academics and policy-makers with a specific interest in the potential impact of the WTO on the trade in technology in the decade ahead.' -- Australian Intellectual Property Law Bulletin'This book affords an important survey of modern legal scholarship on international telecommunications and e-commerce. It will prove valuable to academics and policymakers who follow the challenging new issues in these highly dynamic industries.' -- Alan O. Sykes, Stanford University, US'This volume is an excellent selection of articles on "new generation" agreements that have been negotiated during the Uruguay round. These agreements, often at the intersection of trade and competition provide a challenge for the WTO judge who is called on to interpret them. Wisely the editor has selected papers regarding the treatment of similar issues in regional (more experienced) fora as well, that can provide useful guidance for the WTO judge. It is a great collection of papers, a highly useful volume for all those interested in the WTO.' -- Petros C. Mavroidis, Columbia Law School, New York and University of Neuchâtel, SwitzerlandTable of ContentsContents: Volume I Acknowledgements Introduction Rohan Kariyawasam PART I WTO, TELECOMMUNICATIONS AND ANTITRUST 1. Wonki Min (2000), ‘Telecommunications Regulations: Institutional Structures and Responsibilities’ 2. Yoshiko Kurisaki (1995), ‘The Changing Role of Telecommunications in the Economy: Globalisation and Its Impact on National Telecommunications Policy’ 3. Rohan Kariyawasam (2007), ‘International Telecommunications’ 4. Peter L. Smith and Björn Wellenius (1999), ‘Mitigating Regulatory Risk in Telecommunications’ 5. Marco C.E.J. Bronckers and Pierre Larouche (1997), ‘Telecommunication Services and the World Trade Organization’ 6. Lee Tuthill (1996), ‘Users’ Rights? The Multilateral Rules on Access to Telecommunications’ 7. Lee Tuthill (1997), ‘The GATS and New Rules for Regulators’ 8. Mark Naftel and Lawrence J. Spiwak (2000), ‘The WTO and the Reference Paper: An Ostensible Blueprint for Entry’ 9. Markus Fredebeul-Krein and Andreas Freytag (1997), ‘Telecommunications and WTO Discipline: An Assessment of the WTO Agreement on Telecommunication Services’ 10. Timothy Denton (2002), ‘Protocol Interfaces Are the New Bottlenecks: What the Internet Means for Telecom Regulation’ 11. Rohan Kariyawasam (2005), ‘Defining Dominance for Bits and Bytes: A New “Layering Theory” for Interpreting Significant Market Power?’ 12. Sonali Singh (2006), ‘The Telmex Dispute at the WTO: Competition Makes a Backdoor Entry’ 13. Eleanor M. Fox (2006), ‘The WTO’s First Antitrust Case – Mexican Telecom: A Sleeping Victory for Trade and Competition’ PART II THE CLASSIFICATION OF ELECTRONIC INTANGIBLES IN THE WTO 14. Peter Hill (1999), ‘Tangibles, Intangibles and Services: A New Taxonomy for the Classification of Output’ 15. Rohan Kariyawasam (2007), ‘The Classification of Electronic Intangibles in the WTO’ 16. Claude E. Barfield (2003), ‘Electronic Commerce and the Gats Negotiations’ 17. Harald Sander (2003), ‘Electronic Commerce and Gats Negotiation (Some Comments on a Paper by Claude E. Barfield)’ 18. Sacha Wunsch-Vincent (2006), ‘The Internet, Cross-Border Trade in Services, and the GATS: Lessons from US-Gambling’ 19. Federico Ortino (2006), ‘Treaty Interpretation and the WTO Appellate Body Report in US – Gambling: A Critique’ 20. Mariá Verónica Pérez Asinari (2006), ‘Internet Gambling and Betting Services: When the GATS’ Rules Are Not Applied Due to the Public Morals/Public Order Exception. What Lessons Can Be Learnt?’ Name Index Volume II: Acknowledgements Introduction Rohan Kariyawasam PART I WTO AND ELECTRONIC COMMERCE 1. Heinz Hauser and Sacha Wunsch-Vincent (2000/2001), ‘A Call for the WTO E-Commerce Initiative’ 2. Daniel Piazolo (2001), ‘Multilateral and European Responses to E-Commerce’ 3. Sacha Wunsch-Vincent (2003), ‘The Digital Trade Agenda of the U.S.: Parallel Tracks of Bilateral, Regional and Multinational Liberalization’ 4. Michael Hart and Ramesh Chaitoo (1999), ‘Electronic Commerce and International Trade Rules’ 5. Olivier Cattaneo and Julia Nielson (2002), ‘Regulation of Services Traded Electronically’ 6. Rosemary Morris (2000), ‘Electronic Commerce: A Cluster Approach to the Negotiation of Input Services’ PART II INTELLECTUAL PROPERTY RIGHTS, BILATERALISM AND TECHNOLOGY TRANSFER 7. Keith E. Maskus (1998), ‘The Role of Intellectual Property Rights in Encouraging Foreign Direct Investment and Technology Transfer’ 8. Olivier Cattaneo (2003), ‘Intellectual Property Rights in the New Economy: Technological Changes and the Protection of Intellectual Property Rights’ 9. Carlos M. Correa (2000), ‘Implications of Intellectual Property Rights for the Access to and Use of Information Technologies in Developing Countries’ 10. Peter Drahos (2001), ‘Bilateralism in Intellectual Property’ PART III DEVELOPING COUNTRIES, THE NEW ECONOMY AND THE WTO 11. Sanjeev Dewan, Dale Ganley and Kenneth L. Kraemer (2005), ‘Across the Digital Divide: A Cross-Country, Multi-Technology Analysis of the Determinants of IT Penetration’ 12. Lars T. Soeftestad and Maung K. Sein (2003), ‘ICT and Devolopment: East is East and West is West and the Twain may yet Meet. On the Process of Implementing an ICT-Strategy in the Norwegian Agency for Development Cooperation (NORAD)’ 13. Rohan Kariyawasam (2007), ‘Developing Countries and Telecommunications’ 14. Peter F. Cowhey and Mikhail M. Kilmenko (2001), ‘Implementing Telecommunications Liberalization in Developing Countries after the WTO Agreement on Basic Telecommunications Services’ 15. Arvind Panagariya (2000), ‘E-Commerce, WTO and Developing Countries’ 16. Catherine L. Mann (2000), ‘Electronic Commerce in Developing Countries: Issues for Domestic Policy and WTO Negotiations’ 17. David Vivas Eugui (2001), ‘Issues on the Relationship Between E-Commerce and Intellectual Property Rights in the WTO: Implications for Developing Countries’ Name Index

Read more less

Book SynopsisSpecial and differential treatment (SDT) for developing countries has always been a central, but controversial, element of the GATT/WTO multilateral trading system. A large literature on the subject of SDT has emerged in the last 50 years by both proponents and opponents. The contributions to this volume focus on the rationale, institutional features and economic effectiveness of SDT. The editors have carefully selected a number of key articles with a special emphasis on evaluations of the impact of SDT, especially preferential market access. The book also includes more recent contributions which discuss whether there is a continued need for such special treatment and how it might be designed both from a development objective and from the perspective of the trading system generally. This volume is an essential source of reference for those who follow economic and legal debates on the future of the multilateral trade regime and the role of the developing countries in it.The editors have written an authoritative new introduction which illuminates their choice and highlights the contribution of each article.Trade Review'The 29 papers in this large book are well selected and annotated by two authors who know the literature intimately and have made their own distinguished contributions. . . this volume is an extremely valuable resource.' -- Briefing Notes in Economics'This book is well written and does a good job of summarising the debates surrounding the causes and sustainability of the US current account deficit.' -- SUERF Newsletter'It is always convenient to have collections of articles on a particular theme gathered together in one volume, and this book is no exception. Many of the papers are classics, ranging from the history of the global trading system, and institutional developments to help developing countries, to the pure theory of trade preferences. Hoekman and ozden have done teachers and practitioners of trade and development theory and policy a great service.' -- Tony Thirlwall, Keynes College, University of Kent, UKTable of ContentsContents: Acknowledgements Introduction Bernard Hoekman and Çağlar Özden PART I HISTORY/EARLY IDEAS AND ASSESSMENTS 1. UNCTAD (1964), ‘Industrial Exports from the Developing Countries and Preferences’ 2. Gardner Patterson (1965), ‘Would Tariff Preferences Help Economic Development?’ 3. Harry G. Johnson (1967), ‘Trade Preferences for Manufactured Goods’ 4. Mordechai E. Kreinin and J.M. Finger (1976), ‘A Critical Survey of the New International Economic Order’ PART II ECONOMIC ANALYSIS 5. Richard N. Cooper (1972), ‘The European Community’s System of Generalized Tariff Preferences: A Critique’ 6. Tracy Murray (1973), ‘How Helpful is the Generalised System of Preferences to Developing Countries?’ 7. R.E. Baldwin and T. Murray (1977), ‘MFN Tariff Reductions and Developing Country Trade Benefits under the GSP’ 8. André Sapir (1981), ‘Trade Benefits under the EEC Generalized System of Preferences’ 9. André Sapir and Lars Lundberg (1984), ‘The U.S. Generalized System of Preferences and Its Impacts’ 10. Drusilla K. Brown (1987), ‘General Equilibrium Effects of the U.S. Generalized System of Preferences’ 11. Don P. Clark and Simonetta Zarrilli (1992), ‘Non-Tariff Measures and Industrial Nation Imports of GSP-Covered Products’ 12. James Devault (1996), ‘Competitive Need Limits and the U.S. Generalized System of Preferences’ PART III ADMINISTRATIVE COSTS 13. Jan Herin (1986), ‘Rules of Origin and Differences between Tariff Levels in EFTA and in the EC’ 14. Paul Brenton and Miriam Manchin (2003), ‘Making EU Trade Agreements Work: The Role of Rules of Origin’ 15. Aaditya Mattoo, Devesh Roy and Arvind Subramanian (2003), ‘The Africa Growth and Opportunity Act and its Rules of Origin: Generosity Undermined?’ 16. Christopher Stevens and Jane Kennan (2004), ‘Making Trade Preferences More Effective’ PART IV POLITICAL ECONOMY 17. Rachel McCulloch and José Piñera (1977), ‘Trade as Aid: The Political Economy of Tariff Preferences for Developing Countries’ 18. Edward John Ray (1987), ‘The Impact of Special Interests on Preferential Tariff Concessions by the United States’ 19. Marcelo Olarreaga and Çaglar Özden (2005), ‘AGOA and Apparel: Who Captures the Tariff Rent in the Presence of Preferential Market Access?’ 20. Çaglar Özden and Eric Reinhardt (2005), ‘The Perversity of Preferences: GSP and Developing Country Trade Policies, 1976–2000’ PART V PREFERENCE EROSION 21. Jaleel Ahmad (1978), ‘Tokyo Rounds of Trade Negotiations and the Generalised System of Preferences’ 22. Fumiko Yamazaki (1996), ‘Potential Erosion of Trade Preferences in Agricultural Products’ 23. Katerina Alexandraki and Hans Peter Lankes (2004), ‘The Impact of Preference Erosion on Middle-Income Countries’ PART VI INTERNATIONAL COOPERATION, GATT/WTO DEVELOPMENTS AND PROPOSALS FOR REFORM 24. Martin Wolf (1984), ‘Two-Edged Sword: Demands of Developing Countries and the Trading System’ 25. Brian Hindley (1987), ‘Different and More Favorable Treatment – and Graduation’ 26. John Whalley (1999), ‘Special and Differential Treatment in the Millennium Round’ 27. Susan Prowse (2002), ‘The Role of International and National Agencies in Trade-related Capacity Building’ 28. Christopher Stevens (2003), ‘If One Size Doesn’t Fit All, What Does? Rethinking Special and Differential Treatment in the World Trade Organization’ 29. Bernard Hoekman, Constantine Michalopoulos and L. Alan Winters (2004), ‘Special and Differential Treatment of Developing Countries in the WTO: Moving Forward After Cancún’ ANNEX 30. GATT (1965), GATT: Trade and Development 31. GATT (1979), The Enabling Clause Name Index

Read more less

Book SynopsisFinancial crises are recurring phenomena that can cause significant economic and societal loss. This book is therefore vitally important as it analyzes why and how financial crises occur, the extent of their impact, and what can be done to prevent their recurrence or reduce the damage they cause. Comprising original and never-before-published papers by distinguished economists, this book offers insights about lessons that were or should have been learned from recent outbreaks of such crises in East Asia and elsewhere. Recent Financial Crises also presents a set of econometric studies of issues such as labor market behavior, investment and productivity, and exchange rate adjustments. Although China did not have a crisis, its economic behavior was closely monitored in order to see if that had any effect on the crisis conditions. In this respect, the book contains an estimation of China's 'core' inflation rate, as well as its 'true' cost of living index, over a 20-year period spanning the Asian financial crisis. In general, collectively, the studies point to a need for ongoing structural reforms to minimize vulnerability to crises or soften their impact. The necessity for resorting to viable safety nets is also stressed. Policymakers and central bankers will find this book of great value, as will scholars and researchers at many levels of academe, involved in financial, business, and international economics.Table of ContentsContents: Introduction Lawrence R. Klein and Tayyeb Shabbir PART I: ANALYSIS OF CURRENCY CRISES 1. Asia Before and After the Financial Crisis of 1997–98: A Retrospective Essay Lawrence R. Klein and Tayyeb Shabbir 2. Indicators and Analysis of Vulnerability to Currency Crisis: Thailand Pranee Tinakorn PART II: CURES AND REFORMS 3. The Next Financial Crisis Barry Eichengreen 4. Capital Controls, Financial Crises and Cures: Simulations with an Econometric Model for Malaysia Lawrence R. Klein, Roberto S. Mariano and Süleyman Özmucur 5. The Case of the Missing Market: The Bond Market and Why it Matters for Financial Development Richard J. Herring and Nathporn Chatusripitak PART III: ANALYTICAL ISSUES PERTAINING TO THE RECENT CRISES 6. Investment, Growth and Productivity during the East Asian Financial Crisis F. Gerard Adams and Tayyeb Shabbir 7. What Really Happened to Thai Wage Rates During the East Asian Financial Crisis? Jere R. Behrman, Anil B. Deolalikar and Pranee Tinakorn 8. Exchange Rate or Wage Changes in International Adjustment? Japan and China versus the United States Ronald I. McKinnon 9. Adjustment to China’s CPI-Based Inflation to Account for ‘True’ Cost of Living, 1993–2004 Lawrence R. Klein, Huiqing Gao and Liping Tao 10. Estimating China’s Core Inflation Rate Deming Wu Index

Read more less

Book SynopsisThis book presents important and original studies of international trade and investment in relation to regional economic integration, with particular reference to the experiences of Europe and East Asia. The distinguished contributors illustrate and explain how the location decisions of firms, international trade and capital flows can form, stimulate and shape economic regions in the global economy.The authors address several important themes including: the factors which determine the location choices of multinational firms location decisions of multinational firms in relation to their global performance the growing importance of East Asia as a recipient zone for foreign direct investment the impact of foreign direct investment on Asian host countries the role of trade and investment in regional economic integration. Economic Integration and Multinational Investment Behaviour will be welcomed by researchers with an interest in economic geography, international economics and business, European and East Asian studies, and globalization.Trade Review'The book presents a variety of interesting topics regarding aspects of foreign direct investment and firm behaviour. It thus will serve well as a companion text for an introductory course in industrial location.' -- Renee Will, The Economic JournalTable of ContentsContents: Preface Part I: Location Decisions and the Global Performance of Firms Part II: Foreign Direct Investment and Economic Development of Recipient Countries Part III: International Trade and Investment in Regional Economic Integration Index

Read more less

Book SynopsisThis book examines the Free Trade Area of the Americas (FTAA), an ambitious venture in regional market integration which builds on the principles of the North American Free Trade Agreement. It assesses the long-term corporate and public policy measures to cope with the increased monetary, fiscal and structural interdependence that will be required if the benefits of the FTAA are to be realized.The contributors suggest that with enlightened US leadership and the cooperation of Brazil, Mexico and Argentina, the FTAA could eventually match the EU in the world economy and as a multilateral leader. Initiatives to promote a culture of relational cooperation in a system of liberalized global commerce are stressed. In Latin America, there is an urgent need for such cooperation in order to enhance the region's lackluster growth rate and reduce the occurrences and severity of financial crises. The United States, Canada and Mexico will also benefit from the development of dynamic structural links with their regional neighbours. The authors highlight the importance for US policy initiatives to be complemented by constructive and harmonious corporate collaborations. This spirit of alliance capitalism will help ensure the FTAA promotes social justice as well as economic efficiency.This fully integrated volume, written by leading specialists in the field, will become an indispensable source for analysis of the prospects and role of the FTAA in the global economy. It will be warmly welcomed by informed readers such as international business experts, bankers, corporate executives, economists dealing with fiscal and monetary integration, and those interested in Latin American business.Table of ContentsContents: Foreword Preface 1. Potential for Hemispheric Regional Cooperation 2. The Political Economy of Development in Latin America 3. Structural Partnering Potential of the US Economy 4. Economic Integration in North America: Implications for the Americas 5. What Institutional Design for North America? 6. The Future of MERCOSUR 7. The European Experience of Economic Integration 8. Hemispheric Monetary Cooperation 9. Western Hemisphere Energy Development: The Continuing Search for Security 10. Hemispheric Alliance Capitalism and Structural Partnering 11. Developmental Issues Posed by the FTAA 12. The Hemisphere in the International Political Economy Index

Read more less