International economics Books

Book SynopsisThis two volume set reprints 37 important contributions dealing with international trade throughout the world during the rise of Great Britain to world dominance, the industrialization of Western Europe, and the political and economic expansion of European powers into Asia, Africa and the Americas.The period from 1700 to 1850 saw many dramatic changes in the world economy. Frequent war among the European nations also affected these changes, influencing the timing and perhaps the ultimate magnitude of intercontinental trade.In addition to discussions of commodity trade in different parts of the world, essays in these volumes deal with the effects of governmental policies towards the flows of capital and labour and the emergence of trading institutions and their impacts on economic development. Many deal with controversial topics such as the role of slavery and the slave trade on European development, the burdens of mercantilism, and the impact of European expansion on the economies of the less developed parts of the world.Table of ContentsVolume I Acknowledgements Introduction Part I: The Broad Overview 1. C.P. Kindleberger (1975), ‘Commercial Expansion and Industrial Revolution’ 2. P. Bairoch (1973), ‘European Foreign Trade in the XIX Century: The Development of the Value and Volume of Exports [Preliminary Results]’ 3. R.A. Austen and W.D. Smith (1990), ‘Private Tooth Decay as Public Economic Virtue: The Slave-Sugar Triangle, Consumerism, and European Industrialization’ Part II: Great Britain 4. R. Davis (1962) ‘English Foreign Trade, 1700-1774’ 5. J.M. Price (1961, ‘Multilateralism and/or Bilateralism: The Settlement of British Trade Balances with “The North”, c. 1700’ 6. F. Crouzet (1980), ‘Toward an Export Economy: British Exports during the Industrial Revolution’ 7. R. Davis (1979), ‘The Industrial Revolution British overseas trade’ 8. A.H. Imlah (1950), ‘The Terms of Trade of the United Kingdom, 1798-1913’ 9. R. Pares (1956), ‘The London Sugar Market, 1740-1769’ 10. T.M. Devine (1976), ‘The Colonial Trades and Industrial Investment in Scotland, c. 1700-1815’ Part III: France 11. P. Villiers (1991), ‘The Slave and Colonial Trade in France just before the Revolution’ 12. P. Butel (1986), ‘Traditions and Changes in French Atlantic Trade Between 1780 and 1830’ Part IV: The United States 13. J.F. Shepherd and G.M Walton (1976), ‘Economic Change after the American Revolution: Pre- and Post-War Comparisons of Maritime Shipping and Trade’ 14. C.D. Goldin and F.D. Lewis (1980), ‘The Role of Exports in American Economic Growth during the Napoleonic Wars, 1793 to1807’ 15. D.C. North (1961), ‘International Economic Flows – 1815-1860’ 16. P. Temin (1967), ‘The Causes of Cotton-Price Fluctuations in the 1830’s’ Name Index Volume II Acknowledgements Part I: Africa, The Tropics, Asia and Australia 1. P. O’Brien (1982), ‘European Economic Development: The Contribution of the Periphery’ 2. D. Eltis and L.C. Jennings (1988), ‘Trade between Western Africa and the Atlantic World in the Pre-Colonial Era’ 3. R.B. Sheridan (1969), ‘The Plantation Revolution and the Industrial Revolution, 1625-1775’ 4. N.H. Leff (1973), ‘Tropical Trade and Development in the Nineteenth Century: The Brazilian Experience’ 5. F.J.A. Broeze (1975), ‘The Cost of Distance: Shipping and the Early Australian Economy, 1788-1850’ 6. K.N. Chaudhuri (1966), ‘India’s Foreign Trade and the Cessation of the East India Company’s Trading Activities, 1828-40’ Part II: Policy Issues 7. L.A. Harper (1942), ‘Mercantilism and the American Revolution 8. L. Sawers (1992), ‘The Navigation Acts Revisited’ 9. H.-C. Mui and L.H. Mui (1968-9), ‘Smuggling and the British Tea Trade Before 1784’ 10. F. Crouzet (1964), ‘Wars, Blockade, and Economic Change in Europe, 1792-1815’ 11. M. Bils (1984), ‘Tariff Protection and Production in the Early U.S. Cotton Textile Industry’ 12. P.J. Cain and A.G. Hopkins (1986), ‘Gentlemanly Capitalism and British Expansion Overseas I. The Old Colonial System, 1688-1850’ Part III: Factor Movements 13. H.A. Gemery and J.S. Hogendorn (1974), ‘The Atlantic Slave Trade: A Tentative Economic Model’ 14. B.L. Solow (1985), ‘Caribbean Slavery and British Growth: The Eric Williams Hypothesis’ 15. R. Menard (1977), ‘From Servants to Slaves: The Transformation of the Chesapeake Labor System’ 16. D.W. Galenson (1984), ‘The Rise and Fall of Indentured Servitude in the Americas: An Economic Analysis’ 17. L. Neal (1991), ‘A Tale of Two Revolutions: International Capital Flows 1789-1819’ Part IV: Trade Institutions 18. D.C. North (1968), ‘Sources of Productivity Change in Ocean Shipping, 1600-1850’ 19. C.K. Harley (1988), ‘Ocean Freight Rates and Productivity, 1740-1913: The Primacy of Mechanical Invention Reaffirmed’ 20. J.M. Price (1989), ‘What did Merchants Do? Reflections on British Overseas Trade, 1660-1790’ 21. J.M. Price and P.G.E. Clemens (1987), ‘A Revolution of Scale in Overseas Trade: British Firms in the Chesapeake Trade, 1675-1775’ Name Index

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Book SynopsisPrimary commodities - food, raw materials, fuels and base metals - continue to be a substantial proportion of the exports of many developing countries and account for over 40 per cent of world trade. The determinants of primary commodity prices, and the terms on which they are traded for manufactured goods, are topics of considerable importance for development economists.The Economics of Primary Commodities brings together in one volume important new work by a group of leading scholars on the economic analysis of primary commodity markets. Their detailed coverage of major recent developments in the field include discussion of modelling and policy issues. Topics addressed include excess co-movement of commodity prices, the stabilization of earnings in volatile commodity markets, a macroeconomic framework for trade terms between north and south, and the influence of economic policy on commodity markets. The essays should provide the reader with an overview of the current 'state-of-the-art' and a useful platform on which future research might be based.This book will be welcomed by academic researchers, practitioners and postgraduate students concerned with the economics of trade, economic development and international economics.Trade Review'An excellent and up-to-date volume. . .' -- Aslib Book Guide'In general, the editors succeeded in that the selected papers reflect the "richness and diversity" of the economics of commodity markets. . . it is a useful additional source for those who are dealing with commodity markets.' -- Roland Herrmann, Weltwirtschaftliches ArchivTable of ContentsContents: Preface 1. Introduction (D. Sapsford, W. Morgan) 2. Commodities in Crisis (A. Maizels) 3. The Excess Co-movement of Commodity Prices, Revisited (S. Leybourne, T. Lloyd, G. Reed) 4. Stabilising Earnings in Volatile Commodity Markets: Production Controls vs Price Stabilization (A. Hughes Hallett) 5. The Terms of Trade Between the North and the South: A macroeconomic Framework (P. Sarkar) 6. Trend and Volatility in the Terms of Trade: Consequences for Growth (H. Singer, M. Lutz) 7. Does Economic Policy Influence the Price Volatility of Commodities?: An Econometric Investigation of the Rice Market in Taiwan (J. Chen) 8. Trade Liberalization, Domestic Price Instability and Commodity Futures Markets: The Case of Potatoes (W. Morgan, A. Rayner, C. Ennew)

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Book SynopsisDuring the latter part of the nineteenth century and the beginning of this century both international trade and national economies grew exponentially, with international trade growing considerably faster than national income. Contributors to these two volumes question whether trade’s more rapid growth was an engine pulling successful economies, or whether government policies of trade protection had a greater impact upon national economic growth.The essays in this collection analyse four major driving forces of the period’s sustained economic growth: changes in tariff policies; the technological ‘revolution’ in transportation costs; the population and income growth effects upon demand; and the alterations to comparative advantage brought about by technological changes and resource discoveries.Table of ContentsVolume I Acknowledgements • Introduction Part I: Overview of the Integration of the Nineteenth- Century World Economy A. Quantitative Estimates 1. P. Bairoch (1974), ‘Geographical Structure and Trade Balance of European Foreign Trade from 1800 to 1970’ 2. A. Green and M.C. Urquhart (1976), ‘Factor and Commodity Flows in the International Economy of 1870–1914: A Multi-Country View’ 3. S. Kuznets (1967), Quantitative Aspects of the Economic Growth of Nations: X. Level and Structure of Foreign Trade: Long-Term Trends’ B. General Overviews 4. C.K. Harley (1986), ‘Late Nineteenth Century Transportation, Trade and Settlement’ 5. S.B. Saul (1965), ‘The Export Economy 1870–1914’ C. Studies of Particular Commodities 6. C.K. Harley (1980), ‘Transportation, the World Wheat Trade, and the Kuznets Cycle, 1850–1913’ 7. M. Olson (1974), ‘The United Kingdom and the World Market in Wheat and other Primary Products, 1885-1914’ 8. A.J.H. Latham (1985), ‘The International Trade in Rice and Wheat since 1868: A Study in Market Integration’ 9. A.J.H. Latham and L. Neal (1983), ‘The International Market in Rice and Wheat, 1868–1914’ Part II: Trade and Growth A. General Studies 10. A.K. Cairncross (1961), ‘International Trade and Economic Development’ 11. I.B. Kravis (1970), ‘Trade as a Handmaiden of Growth: Similarities between the Nineteenth and Twentieth Centuries’ 12. N.F.R. Crafts (1973), ‘Trade as a Handmaiden of Growth: An Alternative View’ and I.B. Kravis (1973), ‘A Reply to Mr. Crafts’ ‘Note’ 13. C.P. Kindleberger (1961), ‘Foreign Trade and Economic Growth: Lessons from Britain and France, 1850 to 1913’ B. The Staple Thesis 14. M.H. Watkins (1963), ‘A Staple Theory of Economic Growth’ 15. E.J. Chambers and D.F. Gordon (1966), ‘Primary Products and Economic Growth: An Empirical Measurement’ 16. R.E. Caves (1971), ‘Export-Led Growth and the New Economic History’ Name Index Volume II Acknowledgements Part I: The Interplay of Trade, Protectionism, Liberalization and Growth A. Repeal of the British Corn Laws and the Emergence of Free Trade 1. S. Fairlie (1965), ‘The Nineteenth-Century Corn Law Reconsidered’ 2. C.P. Kindleberger (1975), ‘The Rise of Free Trade in Western Europe, 1820–1875’ 3. J.V. Nye (1991), ‘The Myth of Free-Trade Britain and Fortress France: Tariffs and Trade in the Nineteenth Century’ 4. D.A. Irwin (1993), ‘Free Trade and Protection in Nineteenth-Century Britain and France Revisited: A Comment on Nye’ 5. D.N. McCloskey (1980), ‘Magnanimous Albion: Free Trade and British National Income, 1841–1881’ 6. D.A. Irwin (1988), ‘Welfare Effects of British Free Trade: Debate and Evidence from the 1840s’ 7. J.G. Williamson (1990), ‘The Impact of the Corn Laws Just Prior to Repeal’ B. Trade, Growth and Retardation in Britain 8. N.F.R. Crafts (1989), ‘British Industrialization in an International Context’ 9. A.G. Ford (1963), ‘Notes on the Role of Exports in British Economic Fluctuations, 1870–1914’ 10. W.P. Kennedy (1974), ‘Foreign Investment, Trade and Growth in the United Kingdom, 1870–1913’ 11. D.N. McCloskey (1970-71), ‘Britain’s Loss from Foreign Industrialization: A Provisional Estimate’ 12. N.F.R. Crafts and M. Thomas (1986), ‘Comparative Advantage in UK Manufacturing Trade, 1910–1935’ C. Tariffs and Growth in Continental Europe 13. P. Bairoch (1972), ‘Free Trade and European Economic Development in the 19th Century’ 14. F. Capie (1983), ‘Tariff Protection and Economic Performance in the Nineteenth Century’ 15. C.P. Kindleberger (1951), ‘Group Behavior and International Trade’ 16. F.J. Coppa (1970), ‘The Italian Tariff and the Conflict between Agriculture and Industry: The Commercial Policy of Liberal Italy, 1860–1922’ 17. G. Toniolo (1977), ‘Effective Protection and Industrial Growth: The Case of Italian Engineering, 1898–1913’ 18. S.B. Webb (1980), ‘Tariffs, Cartels, Technology and Growth in the German Steel Industry, 1879 to 1914’ D. Tariffs and Growth in the United States 19. I.B. Kravis (1972), ‘The Role of Exports in Nineteenth-Century United States Growth’ 20. J.G. Williamson (1980), ‘Greasing the Wheels of Sputtering Export Engines: Midwestern Grains and American Growth’ 21. G. Wright (1990), ‘The Origins of American Industrial Success, 1879–1940’ 22. C.K. Harley (1992), ‘The Antebellum American Tariff: Food Exports and Manufacturing’ 23. J.A. James (1981), ‘The Optimal Tariff in the Antebellum United States’ 24. J.J. Pincus (1975), ‘Pressure Groups and the Pattern of Tariffs’ 25. G.R. Hawke (1975), ‘The United States Tariff and Industrial Protection in the Late Nineteenth Century’ E. Trade and the Periphery 26. J. Gallagher and R. Robinson (1953), ‘The Imperialism of Free Trade’ 27. J.R. Hanson, II (1977), ‘Diversification and Concentration of LDC Exports: Victorian Trends’ 28. J.R. Hanson, II (1986), ‘Export Shares in the European Periphery and the Third World before World War I: Questionable Data, Facile Analogies’ 29. I.T. Berend and G. Ranki (1980), ‘Foreign Trade and the Industrialization of the European Periphery in the XIXth Century’ 30. P.J. Cain and A.G. Hopkins (1980), ‘The Political Economy of British Expansion Overseas, 1750–1914’ 31. P.K. O’Brien (1988), ‘The Costs and Benefits of British Imperialism, 1846–1914’ 32. K. Sugihara (1986), ‘Patterns of Asia’s Integration into the World Economy, 1880–1913’ Name Index

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Book SynopsisThe integration of international capital markets, propelled by the information technology revolution and the creation of a variety of new financial instruments, is central to the major economic changes taking place throughout the world. This key issue in global finance is theoretically and empirically addressed in this major new book. Haluk Akdogan’s innovative study uses asset pricing theories to test the status of international capital market integration. This book differs fundamentally from other studies of integration in two respects. First, it is based entirely upon financial theory rather than the pure theory of international trade, and second, it develops several different empirical models of capital market integration. These models are empirically tested using the modern capital asset pricing approach and drawing on data taken from 26 stock markets all over the world. Addressing an issue of great public and scholarly interest, The Integration of International Capital Markets will be welcomed as a comprehensive and authoritative financial-theoretical examination of capital market integration. Advanced students and academic researchers in international trade, international economics and finance, as well as international portfolio managers and finance professionals, will find much here to stimulate and interest them.Trade Review’Overall there is much in Akdogan’s study to interest those concerned with international portfolio investment.’ -- Rodney Wilson, Journal of International Banking Law’This original and authoritative study uses asset-pricing theories to test the status of international capital market integration.’ -- Aslib Book GuideTable of ContentsContents: Part I: Statistics and Institutions 1. Introduction 2. World Capital Markets: Statistics and Institutions 3. Integration of Capital Markets: An Institutional Introduction 4. Non Asset Pricing Models of Integration Part II: Financial Theory of Integration 5. Asset Pricing Models 6. International Asset Pricing and Financial Theory of Integration 7. Arbitrage Pricing Theory of Integration 8. The Role of Controls on Integration Part III: Empirical Tests 9. Integration of European Capital Markets: An Institutional Review 10. Empirical Model and Test for EC Integration 11. A Multi-Factor Model 12. Market Size, and the Issue of Segmentation 13. Geographical Asset Pricing 14. Summary and Conclusions

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Book SynopsisThis important book provides an exhaustive analysis of the strategic responses of transnational firms to current trends in the world economy, specifically the trends towards 'globalization' and 'regionalization'. The primary focus of this book is on the strategy of transnational firms, particularly those from East Asia, in the geographical regions of Europe, North America and Asia, including the European Union, the North American Free Trade Agreement and the ASEAN Free Trade Area. The contributors discuss protectionism and trade agreements, strategic alliances, competitiveness and investment strategy towards Eastern European states and compare business strategies in the triad region. The distinguished contributors are from industry, academia and international organizations and have first-rate, detailed knowledge of the issues raised. Their approach is policy-oriented and they use case studies of Toshiba, Toyota, Samsung and the Notebook PC Consortium to illustrate the investment strategies of East Asian firms. This book will offer insights to scholars and students seeking to understand East Asian and European firms, the topics of globalisation and regionalisation. It will also appeal to policymakers wishing to influence and understand the strategies of transnational firms.Table of ContentsContents: Part I: Overview Part II: Regionalism and Europe Part III: Regionalism and North America Part IV: Regionalism and Asia Part V: Integration Strategies

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Book SynopsisThis volume contains 27 papers and documents divided into four parts: the Measurement of Harmonisation; The International Accounting Standards Committee (IASC); European Harmonisation and Official Material.The first part establish ways of measuring harmonisation as well as applying the techniques to various accounting issues in several European countries. The papers form a corpus of knowledge as there is substantial cross-referencing. The second part examines the processes and the progress of the IASC. Some of the papers are concerned with the nature and procedures of the IASC and others measure the success of its harmonisation efforts. The third part turns the spotlight on the harmonising activities of the European Union. In part four, four fundamental official documents are reproduced; the Preface and the Framework of the IASC and the Fourth and Seventh Directives of the European Union.Table of ContentsContents: Introduction Part I: The Measurement of Harmonization Part II: The International Accounting Standards Committee Part III: European Harmonization Part IV: Official Material Name Index

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Book SynopsisThis volume contains 21 papers divided into three parts: introductory issues; the measurement and effects of diversity; and classification. The final parts looks at the scope of and the reasons for studying international accounting. There are also some papers on the causes of international differences, in particular the effects of international influences on a country's accounting practices. The papers in the second part examine the degree of accounting difference internationally and the reactions to this of companies and users of financial statements. The third part looks at several attempts to put countries into groups by similarities and differences in accounting. Several of these papers refer critically to others in the group, so that a corpus of knowledge in this field has been built up.Table of ContentsContents: Acknowledgments Introduction Part I: Introductory Issues Part II: The Measurement and Effects of Diversity Part III: Classification Name Index

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Book SynopsisStarting with a selection of classical articles on international institutions, this book traces the evolution of regime analysis over the last two decades as a new perspective on international governance. In the process it provides a full account of the major schools of thought that have arisen to account for the demand for international governance, the formation of international regimes, and the effectiveness of international governance systems. By drawing a clear distinction between institutions and organizations and then analysing the relationship between the two, the book clarifies the concept of 'governance without government'. A number of essays explore the probable impact of the proliferation of international regimes on the character of international society. The book's concluding section takes stock of the current status of regime and analyses and assesses emerging challenges in this vibrant field of study.Trade Review'These two volumes make a valuable and highly relevant contribution to the Library of International Political Economy series which already has nine major titles.' -- Journal of Peace ResearchTable of Contents40 articles, dating from 1947 to 1995 Contents: Volume I: Introduction Part I: International Institutions – Classic Perspectives Part II: The Demand for International Governance Part III: International Regimes as Governance Systems Part IV: The Supply of International Governance Index • Volume II: Introduction Part I: Implementation, Compliance and Administration Part II: Regime Effectiveness Part III: Regimes, Governance Systems and International Society Part IV: Institutional Design Principles Part V: Future Directions Index

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Book SynopsisIn this enlightening book, John Berdell addresses the widely-held belief that classical economics distanced itself from policy issues and public debates regarding the effects of international trade on economic growth in advanced economies. He argues, through a detailed consideration of the evolution and structure of Hume's, Smith's, Ricardo's and Malthus' analyses, that it is not only contemporary international economic theory which takes account of these issues.Berdell uses a series of non-linear dynamic models to illustrate and analyse important aspects of each author's discussion of the interactions between trade and growth. The findings are then extended to create a comparison of the classical models with recent empirical research in this area. Berdell suggests that John Stuart Mill's plan to synthesise and extend Hume's, Smith's and Ricardo's analysis of commercial society was rendered intractable by the limitations of Hume's associationalist psychology.This work will be of great interest to both historians of economic ideas and economists concerned with modelling the interactions between growth and international trade.Trade Review'. . . this is a highly original, stimulating contribution to the study of classical economics. . . The book will be of interest to historians of economics for its path-breaking attempt to follow Waterman's suggestions for writing good history, and it will be of interest to contemporary practitioners for its rational reconstructions.'Table of ContentsContents: Preface 1. Historical Dynamics: Cosmopolitan and International Part I: From Cosmopolitan to International: Four Classical Visions of Commercial Openness 2. Trading in Innovation: Hume and the Case for Freer Trade 3. Trading Animosity: Adam Smith and the Ambiguity of Nations 4. Stability and Openness: the Malthus–Ricardo Debate Part II: Some Classical Dynamics of Open Economy Growth 5. The Present Relevance of Hume’s Open Economy Monetary Dynamics 6. A Dynamic Model of the Division of Labor and the Extent of the Market 7. Effective Demand and Technical Change in the Ricardo–Malthus Debate Concluding Thoughts 8. Classical Political Economy: Back to Their Future? Bibliography Index

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Book SynopsisBanking, Politics and Global Finance presents an innovative, micro-political examination of the US banking system's response to the ongoing globalization of financial markets. This approach contrasts sharply with earlier studies which have emphasized the macro-structural aspects of politics through concentrating on elements of stability and consistency in the policy responses by advanced industrial countries to external economic pressures. By micro-political analysis of policy making, this book reveals a multitude of changes in the interests, coalitions and power constellations among private and public sector actors and institutions in the US financial system, in the absence of any macrostructural adjustment. These changes have opened alternative channels for policy making leading to substantial adjustments in the regulatory framework governing US financial markets. Using detailed discussion of the unsuccessful attempts to repeal the law that separates commercial from investment banking - the Glass-Steagall Act - and the successful raising of the capital standards of US commercial banks, Dr Reinicke's book also explains why the same policy network can respond very differently to an external economic challenge - a phenomenon usually neglected in the literature on comparative political economy.Trade Review'Accessible to all audiences; most useful to upper-division undergraduates and graduate students. -- R. Grossman, ChoiceTable of ContentsContents: 1. Introduction 2. The Politics of Domestic Response to External Economic Pressure 3. The U.S. Banking System: Structure and Regulation 4. The Global Integration of Financial Markets 5. Glass-Steagall and the Politics of Gridlock 6. Glass-Steagall and the Politics of Change 7. The Domestic Politics of Capital Adequacy Regulation 8. Capital Adequacy and the Politics of Change 9. Conclusions: Defending the National Interest: U.S. Comparative Responses to External Economic Shocks

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Book SynopsisTrade policy in the United States since 1930 is rigorously evaluated in this major new book. Using public choice analysis to identify and explain protectionist behavior, Charles K. Rowley, Willem Thorbecke and Richard E. Wagner demonstrate why unilateral free trade cannot be achieved through the normal political process and make a strong case for constitutional reform.Trade Protection in the United States analyzes the history of US trade policy to explain why interest groups are able to foster protectionist policies despite the advantages which free trade offers consumers. The authors also explain why the principles of managed trade - as epitomized in the institution of the GATT - are inevitably subverted by protectionism. This important book concludes with a vigorous justification of unilateral free trade and makes a convincing case for protecting the freedom to trade through an amendment to the US constitution.Applying recent developments in constitutional political economy to a key policy issue, this book will be welcomed by economists, political scientists and lawyers as a major statement of the right to trade.Trade Review'The authors provide a useful and informative examination of the public choice view on trade policy.' -- Douglas A. Irwin, Journal of Economic History'This impressive treatise provides critical new insights into trade policies since the Smoot-Hawley Tariff Act of 1930. The authors carefully and systematically analyze the behavior of the major players in the formation of trade policies, namely, common interest groups in the private sector, the House and Senate, the President, and the government bureaucracy, in most of the major episodes of trade-policy change over these years and show how the outcomes can be best understood within a political economy framework. Their final conclusion that unilateral free trade should be imposed by amending the Constitution to prevent the government from levying import duties or imposing quantitative restrictions on trade should stimulate a fundamental rethinking of US trade policy.' -- Robert E. Baldwin, University of Wisconsin, US'The Locke Institute captured top honors for the third consecutive year with its nomination, Trade Protection in the United States. Authors Charles K. Rowley, Willem Thorbecke, and Richard E. Wagner make an "incontrovertible case" for free trade irrespective of the trade policies pursued by other countries.' -- Atlas Economic Research Foundation Highlights, Spring 1996'. . . I find this book to be a worthwhile contribution to our understanding of the endogeneity of trade policy.' -- Howard J. Wall, The Economic JournalTable of ContentsContents: Part I: Basic Principles 1. Trade, National Borders and Individual Welfare 2. The Case for Free Trade 3. The Rhetoric of Trade Protection 4. The Political Economy of Trade Protection Part II: Institutions 5. The Congress 6. The President 7. The Bureaucracy Part III: The Market in Trade Protection 8. Trade Politics in the Legislative Branch 9. Trad Politics in the Executive Branch 10. Trade Politics and the Fair Trade Laws 11. Regional Trade Politics Part IV: From Managed to Free Trade 12. The Political Economy of the GATT 13. The Case for Constitutional Reform References Index

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Book SynopsisEurope is passing through a dramatic period in which issues of international integration and disintegration are of crucial importance. Transforming Economies and European Integration is the first book to focus on the inter-dependence between the pattern and prospects of economic transformation in Eastern and Central Europe and the wider issue of European integration. Important aspects of this process are addressed from both scholarly and political perspectives. The distinguished group of authors, including leading figures from universities and institutions across Europe, reviews the current state-of-the-art in the process of East-West European integration, including bottlenecks and obstacles to the process. The authors analyse the most widely-debated issues and developments in East-West economic relations including the widening and deepening of the European Union, East-West trade, industrial restructuring and labour market adjustment, and the role of financial reforms and financial flows in this process.Highlighting key economic issues relating to the reintegration of Central and Eastern Europe into the European Community, Transforming Economies and European Integration will be welcomed by students, researchers and policymakers concerned with the emergence of a wider, more integrated Europe.Trade Review'The papers in the volume provide a wealth of empirical material on a broad range of issues.' -- H. Drost, Journal of European IntegrationTable of ContentsContents: Preface 1. Introduction Part I: The New Dimensions of European Integration Part II: Restructuring of East–West Trade in Europe Part III: Opening Up of Eastern Markets Annex Index

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Book SynopsisThis new two volume set contains major recent theoretical and empirical contributions to the debate on long-term economic growth. Research on long-term growth was revitalized in recent years as it became clear that countries were not converging in income levels as was predicted by the neoclassical growth model. Also differences in growth rates across countries seemed systematic and predictable. These findings led to the development of models of 'endogenous growth' through which a country's long-run growth rate is determined by economic and policy variables.Professor Grossman - who is a recognized authority on the new growth theory - has chosen some of the most exciting and and innovative papers on convergence and the endogenous growth models that were constructed to explain the stylized facts. Empirical tests of the new models, are made accessible, as well as extensions of the theory to study the effects of international trade on growth, the implications of imperfect capital markets for growth and the relationship between the distribution of income and growth.Trade Review'These two excellent volumes have successfully captured major developments in growth theory and growth empirics since the mid 1980s. The choice of papers is scholarly and the papers are well organized to establish a meaningful connection between the sections. A lucid introduction by the editor is an added bonus. These two volumes are highly recommended as reference books for any graduate macroeconomics courses, and for those researching in this area.' -- Niloy Bose, The Economic JournalTable of Contents37 articles, dating from 1985 to 1994 Contents: Introduction Part I: Convergence Part II: Cross-Country Correlates of Growth Part III: “AK” Models of Long-Run Growth Part IV: Externality-Based Growth Part V: Innovation Based Growth Index • Volume II: Part I: Empirical Evidence Part II: Trade and Growth Part III: Growth and Income Distribution Part IV: Financial Markers and Growth Index

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Book SynopsisHow can the notion of competitiveness be reasonably applied to an economy? What relation does high or low competitiveness have to the current account? Do huge and persistent imbalances really reflect competitive positions of local firms or are they merely due to a misalignment of exchange rates or even outright protectionism, as the US-Japan trade conflict suggests?All these questions are rigorously addressed in International Competitiveness and the Balance of Payments. In examining the determinants of current account balances the conventional competitiveness approach - in which deficits are assumed to indicate low competitiveness - is contrasted with an intertemporal view of the balance of payments. By emphasizing locational quality as the decisive factor in international competitiveness, the authors are able to offer fundamentally different conclusions about the determinants of current account debates.As well as theoretical evidence advocating the intertemporal view, the authors present four case studies in support of this approach: Germany before and after unification, Spain before joining the EMS, the United States since the early 1980s, and Japan's persistent current account surpluses.Trade Review'To sum up: Dluhosch, Freytag and Kruger provide an interesting view of the determinants of the current account.'Table of ContentsContents: Preface 1.The Problem 2. Determinants of the Current Account 3. Measuring Price and Non-Price Competitiveness 4. A Different View of Current Account Balances: Locational Quality 5. Four Case Studies 6. Competitiveness and the Current Account: A Spurious Relationship Bibliography Subject Index

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Book SynopsisThis volume brings together a series of key articles concerning the major accounting jurisdictions within Europe. The articles cover the evolution of financial reporting in various countries and deal with features of their accounting environment which distinguish them from other jurisdictions. It is a unique collection of material which will be an essential aid for students and researchers in comparative international reporting.Table of ContentsContents: Acknowledgements Introduction Part I: France Part II: Germany Part III: The United Kingdom Part IV: Switzerland Part V: Italy Part VI: The Netherlands Part VII: Spain Part VIII: Former Socialist Economies in Transition Name Index

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Book SynopsisThis major new book assesses the role and effectiveness of structural funds in financing the path to integration in the European Union and especially in tackling unemployment. Structural Funding and Employment in the European Union combines an interdisciplinary approach with coverage of all the structural funds including the European Regional Development Fund, the European Social Fund, the European Agricultural Guidance and Guarantee Fund (Guidance Section) and the Financial Instrument for Fisheries Guidance. Empirical evidence is presented for the effectiveness of these funds and their success in increasing economic growth in certain areas and employment in others. The book also covers the relationship of these funds with the European Coal and Steel Community, the European Investment Bank and the Cohesion Fund. Jeffrey Harrop argues that the deepening and widening of the EU requires a stronger regional policy to ensure more effective use of structural funds, yet this remains a contentious area for the EU, member states and regional or local authorities. The author's authoritative and detailed discussion of this key policy issue, as well as his extensive experience of regional and EU policies, will ensure this book's welcome among students, teachers and researchers of European integration.Trade Review'. . . students of the EU will find this book to be a useful addition their college library. . . 'Table of ContentsContents: Introduction 1. A Deeper and a Wider Union 2. Trends in Employment: the Lack of Jobs 3. Regional Categories and Spatial Inequalities 4. Budget Finance for Agriculture and Fisheries 5. Evolution of Regional Policies: the ERDF and Structural Fund Reforms 6. Social Policy Problems and the Role of the ESF 7. The Overall Effectiveness of the Structural Funds Bibliography Index

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Book SynopsisDoes globalization mean a race to the bottom in social standards and the inevitable decay of the welfare state? Ramesh Mishra - a leading authority on social policy - examines the implications of globalization in respect of social policy and social standards in advanced industrial countries.Globalization is a form of international neo-liberalism supported by the United States, world markets and organizations such as the IMF and OECD, whose policies are becoming increasingly influential and are putting nation states under pressure to reduce social standards. In this book Ramesh Mishra considers the impact of globalization on full employment and the labour market, income distribution, taxation and social protection in developed capitalist countries. He argues that social standards have declined far more in English speaking countries than in continental Europe and Japan, and that globalization is as much a political and ideological phenomenon as it is economic. In conclusion, Professor Mishra argues the case for a transnational approach to social policy to ensure that social standards rise in line with economic growth.Globalization and the Welfare State is highly accessible and will be welcomed by students and scholars of social policy, social work, political science and sociology as well as by policymakers in international organizations and government.Trade Review'Mishra's book is an important contribution to the literature on globalization and the welfare state. It offers new insights into the consequences of globalization for the welfare state. While his critical analysis is rather easy to follow, it provides the reader with concrete examples that allow for the development of hypotheses of one's own about the impact of globalization on the welfare state in Anglo-Saxon countries.'Table of ContentsList of Figures and Tables List of Abbreviations Acknowledgements Introduction 1. The logic of globalization: the changing context of the welfare state 2. Employment, lobour market and income: growing insecurity and inequality 3. Social policy in retreat or the hollowing out of the welfare state 4. Social policy and democracy: do politics still matter? 5. Globalization in comparative perspective: Sweden, Germany and Japan 6. The logic of globalization revisited 7. Towards a global social policy References Index

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Book SynopsisThis important volume contains research articles about international accounting issues related to the countries of the Americas and the Far East. The volume comprises of 22 articles, and is divided into five parts. The first part focuses on aspects of standard setting in certain countries, including Australia, Japan, the United States and China. The second part is about disclosure choices of companies. Studies of companies from Japan, Mexico and Taiwan are represented. The third part is concerned with comparisons with US GAAP, with special reference to comparisons between Japanese and US GAAP. Part four is about foreign currency translation by US multinationals, specifically issues related to SFAS No. 52. The final part is about geographic segment reporting by US multinationals.Table of ContentsContents: Acknowledgements Introduction Part I: Aspects of Standard Setting in Certain Countries Part II: Disclosure Choices Part III: Comparisons with U.S. GAAP Part IV: Foreign Currency Translation by U.S. Multinationals Part V: Geographic Segment Reporting by U.S. Multinationals Name Index

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Book SynopsisThe book analyzes the evolution of the concept of comparative advantage from the eighteenth century to the present day. It examines the origins of the concept of comparative advantage, its current status within economic thought and its validity in today's global economy.This comprehensive book outlines the theories of trade and the interpretations of comparative advantage associated with, among others, the Mercantilists, Smith, Ricardo, Torrens, Longfield, Mill, Marshall, Pareto, Haberler, Heckscher, Ohlin and Samuelson, as well as present day trade theorists. A chapter is devoted to Hamilton, Rae and List, who interpreted comparative advantage dynamically by advocating its creation.The book breaks new ground by reinterpreting the theories of trade associated with prominent economists such as Ricardo, and drawing attention to valuable but lesser known contributions. It considers the new trade theory from the past two decades as a legitimate successor to the dynamic views of comparative advantage of the classical economists. This book will be required reading for students and academics with an interest in the history of economic thought and the economics (or theory) of international trade.Trade Review'Maneschi's clearly and attractively written book traces the evolution of comparative advantage based theorizing in relation to international trade. . . . a fine book, combining many fascinating details with a clear overall argument. There are ample notes, a bibliography, and an index; the volume is well-produced. It will prove to be rewarding for many readers.'Table of ContentsContents: 1. Introduction 2. The Concept of Comparative Advantage 3. Theories of International Trade up to Adam Smith 4. David Ricardo, Robert Torrens and the Discovery of Comparative Advantage 5. Creators of Comparative Advantage: Alexander Hamilton, John Rae and Friedrich List 6. John Stuart Mill: Comparative Advantage and the Terms of Trade 7. Neoclassical Trade Theory: Alfred Marshall, Vilfredo Pareto and Enrico Barone 8. Neoclassical Trade Theory: Gottfried Haberler, Eli Heckscher and Bertil Ohlin 9. The Heckscher–Ohlin Theory Encounters the New Trade Theory 10. The (Almost) General Validity of Comparative Advantage Index

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Book SynopsisThis pioneering study shows that economic integration in the Americas is not simply a matter of removing trade barriers. Economic Integration in the Americas addresses the pervasive effects of economic integration on the economy as a whole.This important book examines elements of financial integration and capital mobility in North America and addresses in turn the effects of the North American Free Trade Association on Mexico, comparisons between NAFTA and the European Union, the impact of NAFTA on issues such as social protection, migration and Canadian agricultural policy, and finally, regionalism and multilateralism in the Western hemisphere. While drawing on the experience of European integration, the authors recognize that new, broader analyses are required in the Western hemisphere to allow for the ranges of country size, natural resource endowments and per capita incomes. Sensitive to the political interests involved in economic integration between unequal partners, Economic Integration in the Americas offers students, researchers and policymakers a better understanding of policy at both national and supranational levels.Trade Review'This collection will be well worth reading for those interested in problems and consequences of closer economic integration in North America. It will add to the understanding by those in Europe of the problems of integration between large and small countries and countries with great disparities in income and wealth. The inclusion of several chapters on Mexico is particularly illuminating.' -- David G. Mayes, The Economic JournalTable of ContentsContents: Foreword (R.Eckaus) Acknowledgements Introduction Part I: Aspects of Financial Integration and Capital Mobility in North America Part II: Mexico under NAFTA Part III: NAFTA and the European Union Compared Part V: Issues of Economic Integration : NAFTA and Beyond Part V: Regionalism vs Multilateralism: The Western Hemisphere Index

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Book SynopsisKeynes, Money and the Open Economy is the first of three volumes celebrating Paul Davidson's path-breaking achievements and his seminal role in the foundation and development of post Keynesian economics. The book presents state-of-the-art contributions by leading economists which draw on Davidson's pioneering work in the fields of macroeconomic and monetary theory and policy, employment and income distribution, history of economic thought, methodology and international economics.Trade Review'This two-volume set provides ample testimony to the importance of Paul Davidson's contributions to the development of post Keynesian economics over nearly forty years.' -- J.A. Kregel, The Economic JournalTable of ContentsContents: Introduction (P. Arestis) 1. The General Theory of Employment, Interest and Money: Three Views (G.C. Harcourt, C. Sardoni) 2. Keynes, Einstein and Scientific Revolution (J.K. Galbraith) 3. AS/AD, AE/AP, IS/LM and Z (D. Colander) 4. Keynes’s Philosophy and Post Keynesian Monetary Theory (S.C. Dow) 5. Money, Finance and Interest Rates: Some Post Keynesian Reflections (M. Sawyer) 6. Paul Davidson’s Rediscovery of Keynes’s Finance Motive and the Liquidity Preference Versus Loanable Funds Debate (F.J. Cardim de Carvalho) 7. Money as a ‘Time Machine’ in the New Financial World (G.A. Dymski) 8. Endogenous Money and the ‘State of Trade’ (P. Howells) 9. Davidson on the Labour Market in a Monetary Production Economy (J. Deprez) 10. European Monetary Integration: A Post Keynesian Critique and Some Proposals (P. Arestis, M. Sawyer) 11. International Trade and the Real World (R.A. Blecker), Paul Davidson: A Bibliography Index

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Book SynopsisThis collection of essays is a state-of-the-art analysis of key issues confronting the European Union. Identifying European economic integration as one of the defining features of modern international economics, the authors examine many aspects and consequences of this integration which remain as yet obscure and unexplored. In this book, after addressing general issues concerned with European integration, the authors include empirical and theoretical analyses of the monetary union, social policy reform and social union, public finance in the EU, the EU's agriculture and technology policies, and direct foreign investment into the EU. In particular, the volume includes detailed discussion of Greek membership of the EU, supplying a context in which many of the general issues of industrial adjustment, investment and politics can be examined.Using a wide range of topics, methodologies and perspectives, Economic Integration and Public Policy in the European Union offers a stimulating and wide-ranging presentation which will be of interest to economic theorists, empirical social scientists, policymakers and the informed general reader.Trade Review'. . . this book should be warmly welcomed. . . . the book will be most appreciated by those with adequate knowledge of both economics as well as EU public policy. Those readers will find this book worthwhile reading.' -- Amy Verdun, European IntegrationTable of ContentsContents: Foreword (R. Eckaus) Acknowledgements Introduction Part I: European Integration: General Issues and Problems Part II: Empirical and Theoretical Analyses of Monetary Union Part III: Social Policy Reform and Social Union Part IV: Public Finance in the European Union Part V: European Union: Policies and Accession Part VI: Greece and the European Union Index

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Book SynopsisCan industrial, trade and competition policies complement one another? In this major volume, a distinguished group of researchers and policymakers systematically investigates the relationships between the microeconomic policies of competition, trade and industry within the European Union. After an introductory chapter contrasting the optimal mix of targets and instruments with the effective use and interaction of policies that can be observed in the real world, the book addresses the experience of the EU, its institutional framework and the evolving use of instruments. The convergence and divergence of economic prescription and application are revealed through an outstanding set of case studies which focus on the automobile, chemical fibre, steel, telecommunication and pharmaceutical industries. Competition, trade and industrial policies play a central role in the efficiency of any market economy and the rich European experience offers valuable lessons for economists, regulators and policy makers from both inside and outside the union.European Policies on Competition, Trade and Industry offers an authoritative discussion of policy making and enforcement in the EU. The strong combination of analysis with detailed case studies and overviews will ensure that this book will make a pioneering contribution to understanding the development of microeconomic policies in the Union.Trade Review'The book as a whole, although resulting from a conference, is a coherent and valuable study, which throws much light on the policies and practices of the institutions of the European Community.'Table of ContentsPart I A law and economics overview: the three common policies - an economic analysis, Jordi Gual; the working of EC policies on competition, industry and trade - a legal analysis, Jacques Bourgeois and Paul Demaret. Part II Case studies: automobile, Peter Holmes and Alasdair Smith; the chemical fibres industry, Elisabeth de Ghellinck and Christian Huveneers; steel industry, Michael Glais; telecommunication services, Dominique Foray et al; pharmaceuticals, Gernot Klepper.

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

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Book SynopsisForeign Direct Investment in Japan is the first serious and comprehensive examination of why the direct participation of foreign firms in the economy of Japan is lower than in any other advanced industrial nation. An internationally acclaimed group of scholars and practitioners addresses this problem and considers what policy actions, if any, the Japanese government can take to increase direct investment. Foreign exchange controls banned direct investment into Japan until the late 1970s and this is still partially responsible for the low penetration of foreign firms. A fundamental question addressed by the book is whether or not ownership advantages in technology and management know-how possessed by foreign firms are strong enough to overcome the extra costs of doing business in Japan. Such extra costs or locational disadvantages include very high land and labour costs as well as business practices unique to Japan, characterized by the long-term customized transaction relationship among assemblers, component suppliers, distributors and financial institutions and the long-time employment system. Although the Government of Japan desires to invite more foreign firms, this book demonstrates that there are many areas where direct investment has been adversely affected by internal regulation. Foreign Direct Investment in Japan explores this participation of foreign firms in this economy from the perspectives of economic theory, history, and the practical experiences of non-Japanese firms that have attempted to do business directly in Japan.Trade Review'This book belongs on the bookshelf of every serious scholar interested in the topic of FDI in Japan.'Table of ContentsContents: Introduction Part I: How Can Theories of Foreign Direct Investment Shed Light on the Small Size of FDI into Japan? Part II: How Do Japan’s Distinctive Business Practices and Trade Structure Affect FDI into Japan? Part III: What are the Actual Experiences of Foreign Multinational Companies in Japan? Conclusions

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Book SynopsisStrategic Approaches to the International Economy brings together a selection of Koichi Hamada's innovative and acclaimed essays on the applications of game theory to international economics, capital movements, migration, income distribution, portfolio choice, law and economics and the Japanese economy.As Professor Hamada says of his own work, 'My analyses are usually simple . . . partly because in some sense I have tried not to follow the fashion of the profession but to pursue what genuinely interests me.' Featuring work published over the last 30 years, this major volume is a triumphant assertion of the value of his approach. The autobiographical essay, which introduces this collection and places his work in context, describes his education in Japan and the United States, his early influences including Takashi Negishi, James Tobin, Richard Cooper and Hirofumi Uzawa, and his development of interests in income distribution, law and economics, and international economics.Table of ContentsContents: Acknowledgements Introduction Part I: The Game Theoretic Analysis of the International Economy Part II: A Dynamic Theory of Factor Movements Part III: Income Distribution Part IV: Portfolio Choice and International Economy Part V: Law and Economics Part VI: Japanese Economy Index

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Book SynopsisThe World Economy in Transition brings together thoughts, arguments and analyses by some of the world's leading economists on domestic and international monetary issues of foremost current concern.This major book features contributions from outstanding scholars including three Nobel laureates in economics - Paul Samuelson, Robert Solow and James Tobin. The topics discussed include international and monetary aspects of unemployment, economic policy dilemmas in the United States, the economic downturn in Japan, European monetary union, the former communist countries, and a fresh look at the international monetary system. This volume is based on a lightly edited tape recording of their lively and active debate over a two day period. The editor's introduction has been written to provide useful background for all readers.Although of particular interest to specialists in international monetary economics, The World Economy in Transition is intended for a wide readership including non-specialists, undergraduates and graduate students who will find it an accessible and thought-provoking contribution to their understanding of real-world problems in economics.Trade Review'This book is an interesting read. . . It is topical, covering a variety of the "big questions" facing the global economy as it approaches the end of the millennium. . . Much of it is also witty, which makes this book a pleasure to read.'Table of ContentsContents: Foreword 1. Introduction 2. A Survey of Macroeconomic Trouble Spots 3. Trade Theory and the Problem of Unemployment 4. Unemployment and Monetary Policy 5. Policy Implications of the Downturn in Japan 6. Macroeconomic Policy Dilemmas in the United States 7. Maastricht and the Issue of European Monetary Union 8. Problems in the Former Communist Countries 9. Observations on the So-Called Third World 10. Reflections on the International Monetary System 11. Third Robbins Memorial Lecture: Is All That European Unemployment Necessary? Index

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Book SynopsisThis important book - written by leading scholars in international business - critically reviews the activities of European and Pacific international firms. Transformations of markets and national economic systems associated with the activities of these corporations are posing many issues of adjustment and development, and are affecting decisions on long term investments in industrial capacity.The book provides a useful framework and source of reference for policy makers in government, international agencies and the private sector to address the challenges and opportunities that arise from corporate, regional and financial integration of the world economy.Trade Review'. . . the book provides a useful framework for business, government and academia to address the challenges and opportunities arising from regional integration and interregional interdependencies.' -- H.W.-C. Yeung, Regional StudiesTable of ContentsContents: Foreword (J.C. Dodds) Preface 1. Reconfiguring the Boundaries of International Business Activity (J.H. Dunning) 2. Strategic Foreign Direct Investment (P.J. Buckley) 3. Strategies of Multinational Enterprises and Governments: The Theory of the Flagshiagliettap Firm (A.M. Rugman, J.R. D’Cruz) 4. Structural Transformations: Information Systems and Organizational Networks (M. Blaine, E.M. Roche) 5. Corporate Culture in Europe, Asia and North America (M. Casson, R. Loveridge, S. Singh) 6. Regional Economic Cooperation: EU, NAFTA and APEC (G. Boyd) 7. Regional Integration in Europe (P.M. Crowley) 8. The Economic Effects of an East Asian Trading Bloc (D.K. Brown, A.V. Deardorff, R.M. Stern) 9. Cross Border Capital Flows, Corporate Governance and Developing Financial Systems in the Asia-Pacific Region (J.C. Dodds) 10. Designing Institutions for Global Economic Cooperation: Investment and the WTO (G.R. Winham, H.A. Grant) 11. Political Entrepreneurship for Collective Management (G. Boyd) Index

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Book SynopsisMultinational Enterprises and Trade Policy comprises a selection of Alan Rugman’s most important and influential articles on the multinational enterprise and government policy.This volume focuses on trade and investment policy as well as applications of the theory of internalization to government policy. Topics covered include: strategic trade policy, the ‘double diamond’ framework, the ‘shelter’ theory, the issue of foreign control, the Canada-US Free Trade Agreement and NAFTA and recent contributions on business networks and competitiveness. Special attention is given to the role of multinational enterprises in Canada, Japan and Europe.This book will be essential reading for both academics and policymakers interested in the relationships between multinational enterprises and governments. Together with its companion volume, The Theory of Multinational Enterprises, it will improve access to the work of Alan Rugman, one of the most cited scholars working on the multinational enterprise.Trade Review’. . .the two volumes usefully collect the work of one of the leading scholars in the field of international business.’- Marzia Raybaudi Massilia, The Economic JournalTable of ContentsContents: Part I: Applications of Internalization Theory to Government Policy Part II: Strategic Trade Policy and Shelter Theory Part III: The Double Diamond Framework Part IV: Free Trade and NAFTA Name Index

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Book SynopsisEconomic Policy for the Environment and Natural Resources presents some of the most important recent work on the theory and application of environmental policy at both the national and international level. At the national level it focuses on instruments for pollution control. At the international level it discusses measures to promote international cooperation for the protection of the environment.This book covers a wide range of major issues including the legal aspects of environmental protection, environmental policy under oligopolistic conditions, voluntary agreements as a policy instrument, participation in international coalitions and environmental policy in dynamic trade models. In discussing the applications of environmental policy, it includes issues such as the profitability of emission saving techniques, water management and acid rain models.This book will be essential reading for both policymakers and professional economists who are concerned with environmental policy.Trade Review’. . . this book is a collection of several excellent essays.’- Environmental Conservation -- ’. . . the book is important and the analysis presented in the individual papers is cogent.’- Amitrajeet A. Batabyal, Utah State University, USTable of ContentsContents: Preface Introduction 1. Environmental Protection, Producer Insolvency and Lender Liability (M. Boyer, J.-J. Laffont) 2. Environmental Feedbacks and Optimal Taxation in Oligopoly (C. Carraro, A. Soubeyran) 3. Environmental R&D, Spillovers and Optimal Policy Schemes Under Oligopoly (Y. Katsoulacos, A. Xepapadeas) 4. Voluntary Agreements in Environmental Policy: A Theoretical Appraisal (C. Carraro, D. Siniscalco) 5. Environmental Policy and the Choice of the Best Available Technology: An Empirical Assessment (M. Boetti, M. Botteon) 6. Managing Common Access Resources under Production Externalities (A. Xepapadeas) 7. Issue Linkage in Global Environmental Problems (H. Cesar, A. de Zeeuw) 8. Reflections on Multilateral Environmental Agreements (F. Stähler) 9. Standards Versus Taxes in a Dynamic Duopoly Model of Trade (T. Feenstra, P. Kort, P. Verheyen, A. de Zeeuw) 10. International Negotiations on Acid Rain in Northern Europe: A Discrete Time Iterative Process (M. Germain, P. Toint, H. Tulkens) Index

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Book SynopsisThis authoritative Handbook provides a thorough account and analysis of the important issues relating to the globalization of the international economy. The increasing interdependence of the world's economies has caused a breakdown in national economic boundaries and a freer access to goods, services and labour. This comprehensive book, written by experts in the field, addresses major issues associated with this international economic integration. This reference work considers: global growth including inequality, saving, foreign direct investment, external debt and multinational corporations regionalization and globalization of trade such as the role of international institutions, external economies of scale and trading blocs transition to market economies in Central and Eastern Europe, the former Soviet Union and East Asia internationalization and integration of markets including the financial, capital, labour and agricultural markets global environmental and resource problems including transboundary pollution, the implication of North-South trade for natural resource depletion and environmental degradation, and the impact of energy markets on global growth, pollution and economic stability. Trade Review'. . . it offers expanded coverage of issues from pure international economics to certain aspects of political economy. . . . the present book is a fine work and certainly makes a valuable contribution to the growing list of books addressing globalization. Students of globalization and last but not least practitioners and politicians, as well as diplomats working in international organizations, can learn from it.' -- Marjan Svetlicic, Journal of International Relations and DevelopmentTable of ContentsContents: Part I: Global Growth, Inequality, Saving, Investment and Indebtedness Part II: Regionalization and Globalization of Trade Part III: From Centrally Planned to Market Economy Part IV: Internationalization and Integration of Markets Part V: Global Environment and Resource Problems Index

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Book SynopsisThe emergence of industrial policy as a central issue among not just policy makers but the intellectual community as well reflects not only concerns about the international competitiveness of firms and nations but also unemployment and growth. Scholarship on industrial policy has been scattered across a wide range of disciplines and subjects, rendering it difficult to grasp the state of knowledge on the subject. The purpose of this three volume series is to provide the classic articles forming the building blocks of scholarship on industrial policy and present them in an integrated framework. These classic contributions span a number of subjects within economics, such as international trade, industrial economics, labour economics, economic development and technological change, as well as a number of different academic disciplines, including political science, sociology, international relations, and international management. The first volume focuses on The Mandate for Industrial Policy, the second on Instruments and Targets, and the third on Industry and Country Studies.Trade Review‘David Audretsch has assembled a highly respectable collection of classical economic literature on the role and impact of industrial policy on national competitiveness . . . Audretsch’s collection of works is a blend of the conceptual and empirical and easily accessible to any professional working in the field of industrial policy. Economists, policy analysts (trade, technology and industrial policy in particular), business and international political economy scholars, and political scientists will find these texts to be an essential reference for their work . . . the breadth and scope of works presented in this set is considerable, and the great virtue of Industrial Policy and Competitive Advantage is in its organization of topics and themes . . . is an important addition to the literature on the study of industrial policy. Because it concentrates – in a single source – the significant economic contributions to the thinking, theory, and empirical evidence behind industrial policy making, most analysts will consider it a primary and essential resource.’ -- Maria Papadakis, James Madison University, US‘David Audretsch has undertaken a challenging task, in both concept and magnitude, in putting together the selection of 68 articles. He has met his self-imposed challenge with distinction. . . . In sum, these three volumes make an outstanding contribution to the reference literature of modern economics, not only for the overall high quality of the reprinted articles and chapters, but also for the editor’s perceptive and ingenious presentation of a highly complex body of writing.’ -- William L. Baldwin, Dartmouth College, US‘Industrial Policy and Competitive Advantage is a rich collection of classic articles by experts in the area to provide “building blocks of scholarship on industrial policy”. The three volumes are so organized, each addressing a unique characteristic of the literature in the field.’ -- V.P. Jain, Journal of Scientific and Industrial Research‘There is good representation of both Eastern Europe and South East Asia with articles by Audretsch and Westphal among others. There is no doubt that the three volumes will provide a very useful reference collection for both students and academics and will help focus the debate surrounding industrial policy.’ -- Katherine Wakelin, The Economic JournalTable of ContentsVolume 1 The mandate for industrial policy: Part 1 The policy mandate: the idea of industrial policy, Chalmers Johnson; industrial policy - a dissent, Charles L. Schultze; industrial policy and American renewal, R.D. Norton; industrial change, barriers to mobility and European industrial policy, Paul A. Geroski and Alexis Jacquemin; some lessons from the East Asian miracle, Joseph E. Stiglitz. Part 2 Implementation: implementing a national technology strategy with self-organizing industry investment boards, Paul M. Romer; procurement policy as a tool of industrial policy, P.A. Geroski; the implementation of industrial policy in an evolutionary perspective, Alexander Gerybadze. Part 3 International competitiveness: making sense of the competitiveness debate, Paul R. Krugman; industrial policy and international competitiveness, David B. Audretsch; international R&D rivalry and industrial strategy, Barbara J. Spencer and James A. Brander. Part 4 Trade: trade and industrial policy under imperfect competition, Anthony J. Venables and Alasdair Smith; optimal trade and industrial policy under oligopoly, Jonathan Eaton and Gene M. Grossman; the welfare effects of imperfect harmonization of trade and industrial policy, Konstantine Gatsios and Larry Karp; R&D rivalry, industrial policy and US-Japanese trade, David B. Audretsch and Hideki Yamawaki. Part 5 Foreign direct investment: industrial policy and foreign direct investment, Phedon Nicolaides. Part 6 Technology policy: does technology policy matter?, Henry Ergas; technical innovation and national systems, Richard R. Nelson and Nathan Rosenberg; strategic R&D policy, John Beath et al; innovation policy in an open economy - a normative framework for strategic and tactical issues, Moshe Justman and Morris Teubal. Volume 2 Instruments and targets: Part 1 Competition policy: industrial policy and competition policy, Manfred Neumann; the evolution of Clayton section 7 enforcement and the beginnings of US industrial policy, Bruce M. Owen; antitrust law as industrial policy - should judges and juries make it?, Phillip Areeda; international mergers and state aid - what should competition policy do about industrial policy?, A. Neil Campbell et al. Part 2 Networks and cooperation: competition, cooperation and innovation - organizational arrangements for regimes of rapid technological progress, David J. Teece; when can government subsidize research joint ventures? politics, economics and limits to technology policy, Linda Cohen; company-scientist locational links - the case of biotechnology, David B. Audretsch and Paula E. Stephan; vertical relations between firms and industrial policy, P.A. Geroski; a dynamic analysis of export cartels - the Japanese case, Alexis Jacquemin et al; Europe - collaboration in the high technology sectors, Margaret Sharp. (Part contents)

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Book SynopsisWith a population of 1.2 billion and nearly two decades of spectacular growth, China promises to become one of the world's largest economic powers and consumer markets in the next century. A salient feature of the contemporary Chinese economy is the significance of state intervention toward business in the form of 'preferential policies'. Thanks to these policies, a firm's location, ownership type and area of business largely determine whether it should receive privileges of disadvantages in the regulated business environment. The fast changing preferential policies have had great influence on a wide range of economic activities, including foreign direct investment. The extent, complexity and variety of these policies are bewildering to both investors and academics who study the Chinese economy.State Intervention and Business in China is a systematic study of China's preferential economic policies. Dr Lu and Dr Tang present these policies in three categories, namely, the investor-oriented, the region-oriented, and the industry-oriented policies. The authors give a clear account of policies including: preferential tax rates, state bank loans, trade protection and subsidies, and licensing schemes. The book provides the in-depth political economy analyses that reveal the sources and functions of these policies. By offering empirical observations on the impact of state intervention on regional development and economic structures, this book sheds new light on the prospects for China's economic policy making.State Intervention and Business in China will be indispensably for scholars and specialists who are interested in contemporary Chinese economy and society. It is also a valuable guide for doing business in China.Trade Review'Within a comparatively short text, Lu and Tang have succeeded in analysing a very complex area in an accessible way and have provided extensive tables of data. This is a book for specialists interested in economic developments in China, rather than for the business generalist; it addresses issues that are rarely brought together, giving an overall analysis of scope and impact of government intervention.'Table of ContentsContents: Foreword 1. Introduction 2. Investor-Oriented Policies 3. Region-Oriented Policies 4. Industry-Oriented Policies 5. Uncertainty in Preferential Policies 6. Epilogue: Prospects of Preferential Policies Appendix Index

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Book SynopsisThis innovative new book provides an up-to-date and comprehensive analysis of contemporary economic, political and security relations between Western Europe and the Asia Pacific region. After discussing the historical legacies of colonialism and de-colonization, the book examines the successive economic challenges from first Japan, then the Asian Newly Industrializing Economies, and most recently Southeast Asia and China. It also analyses the slowly emerging and less well-known political and security aspects to the relationship. Regionalism in both Europe and the Asia pacific is discussed, as is the impact of the Asian financial crisis since mid-1997 on relations with Europe. The book concludes that the future Euro-Asian relationship will be influenced by moves towards greater European integration, the way in which Asia responds to the current financial crisis and by the development of the new region-to-region dialogue.This book will be essential reading for students and scholars of Asian studies and international economics and politics.Trade Review'Bridges' book provides a rich pool of sources, information, and statistical data, a comprehensive and updated description of the countries and issues composing the EU-Asia Pacific relationship. The reading flows easily, unencumbered by jargon. As such, it is a valuable resource, both to students of this subject as well as interested laypersons.'Table of ContentsContents: Preface 1. Introduction 2. Legacies of History 3. Japan: Beyond Competition 4. The Asian Tigers 5. The Southeast Asian ‘Community’ 6. Coping with China 7. Regionalism at Work 8. Developing a Political Partnership 9. Summits and Slumps 10. Looking Back and Looking Forward Bibliography Index

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Book SynopsisCompetition and Economic Integration in Europe explores the relationship between competition policy and economic integration in the enlarging European Union. It contains valuable contributions from academics and officials from inside and outside the European Union as well as offering a transatlantic perspective on the enabling effect of competition policy on deepening European integration.This book examines the importance of competition policy in the Europe Agreements signed with the Central and East European countries, whilst emphasizing that agreement on the adoption of competition rules is just one element in the complex process of accession to the European Union. The book argues that harmonization of competition policy along EU lines across the wider Europe is necessary to create a culture of competition among the European partner countries. The contributors examine the actual and potential roles of competition policy as a regulator of cross-border flows, an agent for the removal of trade barriers and as one of a number of measures to enable a move towards free trade. Competition policy is also advocated as a framework for business behaviour, in order to eradicate 'unfair' competition and as a foundation for the privatization programmes of governments. The book concludes with a postscript linking the argument of the book with the European Commission's Agenda 2000 report of July 1997.This book will prove invaluable to academics and students in the field of transition economics, the economics of the European Union, comparative institutions and industrial policy.Trade Review'The volume has raised wide-ranging questions relating to integration and transition of controlled economies to market economies. Most of these experiences are useful for countries with bulging fiscal deficit and struggling hard to bring in efficiency in public expenditure. . . . The volume will no doubt be useful for policymakers and researchers of countries in transition.' -- Pradosh Nath, Journal of Scientific and Industrial ResearchTable of ContentsContents: 1. Competition Policy for Central and Eastern Europe: The Challenge of the Europe Agreements (S. Estrin and P. Holmes) 2. The Central European Countries and the European Union’s Waiting Room: Why Must they Adopt the EU’s Competition Law? (E.M. Fox) 3. Central and East European Countries’ Approximation of Legislation in the Competition Field: If, Why and How? (T. Jakob) 4. EU Competition policy Without Membership: Lessons from the European Economic Area (E. Smith) 5. The Full Potential of the Europe Agreement: Private Positive Comity, Direct Effect and New Balancing within Public Interest Clauses (G. Marceau) 6. Competition Policy as a Framework for Privatization: The Case of Greece (M. Frangakis) 7. Greek Legislation on Competition policy and its Implementation (N.C. Baltas) 8. Central Issues of Hungarian Competition Policy in the Light of Association with the European Union (F. Vissi) 9. Implementing Competition Policy in Poland: Transition and the European Integration Context (J. Saryusz-Wolski) 10. Approximating Czech Competition Law and the European Union Law: Advantages and Disadvantages (S. Matzchova) 11. Some Aspects of Relations between the European Union and Slovakia (E. Jurzyca) 12. Choices in Transition: The Contract State and Direct Service in Local Government Expenditure (S. Szymanski) Index

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Book SynopsisTrade Diversification in the Least Developed Countries examines the success of the least developed countries (LDCs) in implementing trade reforms to encourage trade diversification and considers what further policy reforms might be required to achieve this objective.The book begins with an overview examining the reasons why trade diversification is imperative for the LDCs, and provides a summary of the empirical evidence at regional and national level. It then assesses the impact of trade policy reform on trade diversification in Africa in general. The remaining chapters consist of a variety of country case studies including Bangladesh, Mozambique, Uganda, Haiti, Niger and Lao PDR. In conclusion it discusses the Uruguay Round in relation to trade diversification, its possible implications and adverse effects.The book will be essential to students of development studies, development economics and international economics. It will also be important for policy makers, officials and researchers in the developing countries.Table of ContentsContents: Preface 1. Trade Diversification in LDCs: An Overview (C.K. Patel, S. Gayi, W. van der Geest) 2. Trade Diversification in Sub-Saharan Africa and in the African LDCs: Efforts, Constraints and Results (C. Kirkpatrick, J. Weiss) 3. Trade Diversification in Bangladesh: Prospects and Constraints (W. van der Geest, K. Rahman) 4. Trade Diversification in Benin: Prospects and Constraints (L. Chia, S. Gayi) 5. Trade Diversification in Cape Verde: Prospects and Constraints (W. van der Geest) 6. Trade Diversification in Haiti: Prospects and Constraints (G. Fischer, S. Gayi) 7. Trade Diversification in the Lao PDR: Prospects and Constraints (G. Köhler, W. van der Geest) 8. Trade Diversification in Mozambique: Prospects and Constraints (K. Rahman, W. van der Geest) 9. Trade Diversification in Niger: Prospects and Constraints (L. Komlev) 10. Trade Diversification in Uganda: Prospects and Constraints (W. van der Geest) 11. The Uruguay Round, Trade Diversification and the LDCs (S. Gayi) Index

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Book SynopsisThe development of modern biotechnology has varied considerably from country to country. Typically, there are wide technology gaps between developing and industrialised countries and considerable differences in investment and regulatory systems, often creating a need for policy intervention. This innovative book examines the development and evolution of biotechnology in industrialised and developing countries. The author first explores efforts made by policymakers and the leaders in the field to reduce technology gaps, and analyses the development of financial mechanisms and regulatory frameworks to hasten the adoption and diffusion of biotechnology. The second section looks at the relationship between biotechnology and its resource base, biological diversity. The author emphasizes the interdependency between biodiversity and biological R&D in an attempt to simplify the debate on the conservation of biological diversity. The last section focuses on the potential positive and negative impacts of biotechnology and its contribution towards sustaining biodiversity.The Emergence and Growth of Biotechnology will be of great interest to undergraduate and postgraduate economics students interested in the economics of technology, economic development and biotechnology and environmental conservation.Trade Review'Acharya employs specific descriptions and concise writing to explain fully the commercial and environmental concerns that are relevant to the global expansion of biotechnology. The Emergence and Growth of Biotechnology offers a brilliant survey of the field. . . This book is ideal for the reader who seeks a strong basic knowledge of the biotechnology market.' -- Journal of International Law and Politics'. . . this book would greatly benefit the students of economics, scientists, and policymakers alike.'– Parvinder Chawla, Journal of Scientific and Industrial ResearchTable of ContentsContents: 1. Introduction Part I: Biotechnology and its Development 2. The Development of Biotechnology 3. From Human Insulin to Oncomice: Patterns of Innovation in Industrialised Countries 4. Biotechnology in Developing Countries 5. The Impact of Biotechnology on International Trade Part II: Biotechnology and Biodiversity 6. Biotechnology and Biodiversity: The Links 7. The Conservation and Sustainable Utilisation of Biodiversity: The Role of Biotechnology and Bioprospecting 8. Concluding Remarks References Index

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Book SynopsisTechnology plays an increasing role in competitiveness in the global market. This authoritative new book consists of essays - theoretical as well as empirical - studying the relationships between technology, growth, international competitiveness and employment.The first part of the book shows that international competitiveness and market shares are mainly determined by R&D efforts and technological advantages. It goes on to provide some evidence for the importance of home market size for competitiveness and for the role of proximity and trade flows for stimulating dispersion of new knowledge. Issues discussed include the implications for growth of technical progress as a learning process and of the degree of openness of the economy. The book also addresses the role of multinationals as vehicles for technology diffusion and of monetary policy in a growth context, and the effects of technical progress on the demand for labour, skilled as well as unskilled.Technology and International Trade will be of interest to academics particularly those in the fields of international trade, economic growth, industrial organization and technology.Trade Review'Technology and International Trade will be of interest to academics, particularly those in the fields of international trade, economic growth, industrial organization and technology.'Table of ContentsContents: Preface Introduction 1. Productivity Growth and Shifting Comparative Advantage on the Industry Level (E.N. Wolff) 2. Technical Progress, Capital Accumulation and Changing International Competitiveness 3. Competitiveness, Scale and R&D (J. Fagerberg) 4. Technology, Employment and Trade: Perspectives on European Integration 5. New Theory and Evidence on the Standard Good Hypothesis (A. Melchior) 6. Dynamic Comparative Advantages in a Ricardian Model (J.D. Hansen) 7. Trade and Growth: A Survey (S. Dowrick) 8. Knowledge Inflow to Sweden: Does Geography and International Trade Matter? (F. Sjöholm) 9. Decentralization of Research and Development by Multinational Companies: Determinants and Future Prospects (S. Globerman) 10. Growth-enhancing Policies in a Small Open Economy (A. Sorensen) 11. A Monetary, Open Economy, R&D-growth Model (J. Honkatukia) 12. Trade, Technology and Changes in Employment of Skilled Labour in Swedish Manufacturing (P. Hansson) Index

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Book SynopsisA large and growing academic literature seeks to analyse the key aspects of the International Monetary Fund's operations from both theoretical and empirical perspectives. This two-volume set draws together what are generally acknowledged to be the most important contributions. In the main it focuses on the economics of the IMF but also reflects the fact that a full understanding of the Fund will only be achieved if its political dimensions are also addressed. The collected articles demonstrate the way in which research on the IMF has evolved over time. They cover the role of the IMF, the determinants of IMF lending, conditionality and the implementation and effects of IMF programs, the prolonged use of IMF resources as well as the IMF's own reserve asset, the Special Drawing Right. No serious student of the IMF will want to be without this up-to-date and comprehensive collection.Trade Review'Bird and Rowlands have accomplished a remarkable milestone in providing the world this invaluable collection of top-notch articles and papers published at different times in the 20th and 21st centuries. . . This is an ambitious work that was well executed. I highly recommend it.' -- Chika B. Onwuekwe, Journal of International Banking Law and RegulationTable of ContentsContents: Volume I Acknowledgements Introduction Graham Bird and Dane Rowlands PART I THE DETERMINANTS OF IMF PROGRAMMES 1. Graham Bird and Timothy Orme (1981), ‘An Analysis of Drawings on the International Monetary Fund by Developing Countries’ 2. Joseph P. Joyce (1992), ‘The Economic Characteristics of IMF Program Countries’ 3. Patrick Conway (1994), ‘IMF Lending Programs: Participation and Impact’ 4. Julio A. Santaella (1996), ‘Stylized Facts Before IMF-Supported Macroeconomic Adjustment’ 5. Strom C. Thacker (1999), ‘The High Politics of IMF Lending’ 6. Graham Bird and Dane Rowlands (2001), ‘IMF Lending: How Is It Affected by Economic, Political and Institutional Factors?’ 7. Randall W. Stone (2004), ‘The Political Economy of IMF Lending in Africa’ PART II THE DESIGN OF IMF CONDITIONALITY 8. Sidney Dell (1981), ‘On Being Grandmotherly: The Evolution of IMF Conditionality’ 9. Mohsin S. Khan and Malcolm D. Knight (1981), ‘Stabilization Programs in Developing Countries: A Formal Framework’ 10. John Spraos (1986), ‘IMF Conditionality: Ineffectual, Inefficient, Mistargeted’ 11. Jacques J. Polak (1991), ‘The Changing Nature of IMF Conditionality’ 12. Manuel Guitián (1995), ‘Conditionality: Past, Present, Future’ 13. Paul Collier, Patrick Guillaumont, Sylviane Guillaumont and Jan Willem Gunning (1997), ‘Redesigning Conditionality’ 14. Martin Feldstein (1998), ‘Refocusing the IMF’ 15. Michael Mussa and Miguel Savastano (2000), ‘The IMF Approach to Economic Stabilization’ 16. William Easterly (2006), ‘An Identity Crisis? Examining the IMF Financial Programming’ 17. Morris Goldstein (2003), ‘IMF Structural Programs’ Name Index Volume II Acknowledgements An introduction by the editors to both volumes appears in Volume I PART I THE EFFECTS OF IMF PROGRAMMES 1. Morris Goldstein and Peter Montiel (1986), ‘Evaluating Fund Stabilization Programs with Multicountry Data: Some Methodological Pitfalls’ 2. Mohsin S. Khan (1990), ‘The Macroeconomic Effects of Fund-Supported Adjustment Programs’ 3. Tony Killick, Moazzam Malik and Marcus Manuel (1992), ‘What Can We Know About the Effects of IMF Programmes?’ 4. Khosrow Doroodian (1993), ‘Macroeconomic Performance and Adjustment Under Policies Commonly Supported by the International Monetary Fund’ 5. Graham Bird and Dane Rowlands (1997), ‘The Catalytic Effect of Lending by the International Financial Institutions’ 6. Louis Dicks-Mireaux, Mauro Mecagni and Susan Schadler (2000), ‘Evaluating the Effects of IMF Lending to Low-Income Countries’ 7. Gopal Garuda (2000), ‘The Distributional Effects of IMF Programs: A Cross-Country Analysis’ 8. Adam Przeworski and James Raymond Vreeland (2000), ‘The Effect of IMF Programs on Economic Growth’ 9. Ayse Evrensel (2002), ‘Effectiveness of IMF-Supported Stabilization Programs in Developing Countries’ 10. Michael M. Hutchison (2003), ‘A Cure Worse Than the Disease? Currency Crises and the Output Costs of IMF-Supported Stabilization Programs’ 11. Axel Dreher and Roland Vaubel (2004), ‘The Causes and Consequences of IMF Conditionality’ PART II THE IMPLEMENTATION OF IMF PROGRAMMES 12. Tony Killick (1996), ‘Principals, Agents and the Limitations of BWI Conditionality’ 13. Graham Bird (1998), ‘The Effectiveness of Conditionality and the Political Economy of Policy Reform: Is It Simply a Matter of Political Will?’ 14. Allan Drazen (2002), ‘Conditionality and Ownership in IMF Lending: A Political Economy Approach’ 15. Axel Dreher (2003), ‘The Influence of Elections on IMF Programme Interruptions’ 16. Anna Ivanova, Wolfgang Mayer, Alex Mourmouras and George Anayiotos (2006), ‘What Determines the Implementation of IMF-Supported Programs?’ PART III MORAL HAZARD, LENDER OF LAST RESORT, AND SPECIAL DRAWING RIGHTS 17. G.K. Helleiner (1983), ‘Lender of Early Resort: The IMF and the Poorest’ 18. Roland Vaubel (1983), ‘The Moral Hazard of IMF Lending’ 19. Graham Bird (1998), ‘The Political Economy of the SDR: The Rise and Fall of an International Reserve Asset’ 20. Stanley Fischer (1999), ‘On the Need for an International Lender of Last Resort’ 21. Axel Dreher and Roland Vaubel (2004), ‘Do IMF and IBRD Cause Moral Hazard and Political Business Cycles? Evidence from Panel Data’ Name Index

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Book SynopsisThe Rise and Fall of the Wealth of Nations is an interdisciplinary study concerning growth and cycles in economic development. It builds a bridge between rigorous economic theory and historical studies of long run economic evolution.This authoritative book explains long waves of economic activity and the rivalry of nations for leadership. It considers the concept that such waves of activity are characterized by a cyclical change of societies focusing alternately on capital accumulation and distribution. It also discusses the idea that a change in the economic leadership of a nation occurs after nations reach the height of their influence and turn away from accumulating capital in favour of distribution of income and wealth.This volume will be welcomed by academics, policymakers and students of economics and economic history.Trade Review'This book is a major contribution, with particular importance to those with an interest in growth theory and business cycles. . . Such a socio-cultural explanation of economic phenomena is unusual and highly original.'Table of ContentsContents: Preface 1. Introduction 2. Long Waves in the Economy and in Politics 3. Abundance of Explanations 4. Time Preference 5. Capital Formation with Population Growth 6. Economic Growth with Technological Change 7. Growth under Uncertainty and Imperfect Foresight 8. Long Waves of Economic Development 9. Long Waves and Business Cycles 10. Natural Resources and Population 11. Institutional Change 12. The History of Long Waves 13. International Rivalry 14. Epilogue Index

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Book SynopsisThe Struggle for World Markets examines the pattern of deepening integration and imbalances across the Atlantic as the European Union and North America are increasingly linked through high volume trade and expanding transnational production. Distinguished authors examine in detail structural policy issues, foreign direct investment flows, free trade options and the evolution of collaborative arangements between firms, especially in high technology sectors. The volume explores the possibility of promoting greater links between the European Union and North America. It offers assessments of potentials for the formation of new alliances that would strengthen Atlantic economic ties.The Struggle for World Markets will be invaluable to policymakers and scholars with an interest in international business, international political economy, commerce and political science.Table of ContentsContents: 1. Re-energizing the Transatlantic Connection (J.H. Dunning) 2. Atlantic Interdependencies and Free Trade (S. Blank and A. Taillandier) 3. Structural Interdependence between the European Union and the United States: Technological Positions (P. Buigues and A. Jacquemin) 4. North American Sectoral Profiles and Corporate Strategy in the Automobile Industry (A. Rugman and G. Boyd) 5. Atlantic Systems of Corporate Finance and Governance (S. Prowse) 6. Atlantic High-technology Complementarities (J. Niosi and B. Godin) 8. Atlantic Foreign Direct Investment Flows (P.J. Buckley and J. Clegg) 9. Atlantic Strategic Technology Alliances (J. Hagedoorn) 10. Systemic Approaches to Managing Interdependencies (G. Boyd) 11. Planning Atlantic Direct Investment Conferences (G. Boyd) Index

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Book SynopsisThe role of the stock market in the recent global financial crisis has led many to question the way in which the modern international financial system operates. This highly topical book offers important insights into the stock market, contrasting the speculative explanation of stock market fluctuations with the conventional efficient markets hypothesis.After summarising economists' views on stock market behavior from the classical period to the present day, the authors focus on two particular explanations of stock price fluctuations. They examine in detail the mainstream neo-classical theory with its emphasis on the efficient markets hypothesis. They then compare this with the theories of Veblen, Galbraith and Keynes who consider markets as being inherently prone to speculation and crisis, in contrast to the neo-classical approach which largely ignores the instability of stock markets and particularly the crashes that have recently occurred. The authors go on to develop a speculative model to account for stock market fluctuations which provides a useful and realistic explanation of how stock price expectations are formed.This book will be welcomed by bankers, financial and monetary economists, historians of economic thought and all those interested in the causes of the recent market crashes.Trade Review'This book provides a welcome and sobering counterpoint to the increasingly popular view that stocks are the safest asset for the long run investor, by demonstrating the challenge to the dominant rational markets paradigm that is posed by behavioral and speculative theories of asset markets.' -- Michael J. Brennan, University of California, Los Angeles, USTable of ContentsContents: Preface The New Bull: Will the Market still Fluctuate? 1. Introduction: Economists On (and In) the Stock Market 2. The Stock Market: Structure, Performance and Character 3. Neo-classical Economists on Rational Markets and Speculation 4. Stock Markets in Veblen’s Theory of Business Enterprise 5. Keynes on Speculative Stock Markets 6. Galbraith’s Model of Speculative Stock Markets 7. Recent Developments in Speculative Markets Theory: Fads, Fashions and ‘Rational’ Bubbles 8. Current Prospects for Speculative Markets Theory Bibliography Index

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Book SynopsisThe process of European integration is at a crossroads. As the Union becomes larger in terms of members, the institutional structures and decision making procedures will have to change in order for it to make policy initiatives. To meet these challenges, the Union will need an effective institutional and constitutional structure which must be both democratic and acceptable to its citizens.This major book evaluates recent developments, considers the present situation and assesses the prospects for the future of the European Union. A wide variety of institutional and constitutional issues are addressed, with special attention being paid to three main topics; decision making and including a critique of attempts to analyse European decision making using traditional power indices and a discussion of the different procedures laid down in the comitology decision; federal structures, with an analysis of the politics of European federalism among other issues; institutional change which compares the relative merits of enlarging or deepening the Union, suggesting a fifth freedom by a single European market for governments and discussing non-technical aspects of legislation in the European Union.Constitutional Law and Economics of the European Union will of interest to policymakers, academics and students of European economic and political affairs and institutional and constitutional structures.Trade Review'. . . Most papers are followed by remarks from two commentators, which provide a useful summary of the issues at stake.' -- Keith Tribe, The Economic Journal'. . . with its constitutional law and economics approach to European integration, this book is both interesting and useful for academics, policymakers and students of the EU.'– Nina Grager, Journal of Peace ResearchTable of ContentsContents: Introduction (D. Schmidtchen and R. Cooter) Part I: Decision Making Part II: Federal Structures Part III: Institutional Change Index

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Book SynopsisEconomic Policy and Climate Change focuses on the design, implementation and consequences of a feasible system of tradable carbon permits to reduce greenhouse gas emissions within the context of the European Union.Economic instruments are considered fundamental in reducing atmospheric pollution, especially carbon dioxide emissions. This important book outlines the design of an achievable system of tradable emission permits in the EU. It considers the distribution of permits, the problem of monitoring and enforcement and the possibility that the system might create a barrier to potential entrants to industry. This is especially important because entry barriers will affect the whole economy and long-term industry dynamics. The analysis then extends to consider the use of tradable permits and taxes in the context of international cooperation on emissions reduction. International agreements are examined within the framework of a second-best, two country model in which governments reduce emissions and raise revenue simultaneously. The author concludes that it is not welfare-maximizing to trade permits between countries if emission limits and side-payments have not first been agreed.This book will be of special interest to environmental economists, environmentalists and policymakers.Trade Review'I found Koutstaal's approach a useful contribution to the debate. . . I think that this book will be a very interesting introduction to the design of environmental economic instruments to policymakers interested in the use of them at an international level.'Table of ContentsContents: 1. Introduction 2. Designing a System of Tradable Carbon Permits for the EU 3. Entry Barriers and Tradable Permits: Overview and Transaction Costs 4. Entry Barriers and Tradable Permits: Imperfect Capital Markets and Exclusion 5. Coordination of Environmental Policy in a Second-best World 6. Tradable Permits and Coordination of Environmental Policy in a Second-best World 7. Conclusions Index

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Book SynopsisThe Evolution of the Single European Market provides a detailed empirical and theoretical analysis of the impact of the Single European Market - one of the most significant developments in the world economy in the late twentieth century.A distinguished group of contributors examines how the Single Market has developed in practice and the impact it has had on industry regions and groups in society. They chart the likely future course of further integration in the light of public choice theory, subsidiarity and the current experience within the Single Market. The differences between the member states are analysed in detail as are the reasons why it has been so difficult to obtain agreement. They examine, from an evolutionary approach, issues such as competition law, the Single European Act, the unofficial means of implementation and enforcement, 'competition among rules', and the social dimension and external impact of the Single Market. The contributors include lawyers, economists, political scientists, sociologists and regional scientists, whose contribution stems from the work of over one hundred researchers across Europe in a linked programme of projects.This forward looking book will be required reading for researchers and students with an interest in economic and political integration as well as politicians and businesses involved in cross-border trade and investment. It will also be of interest to academics in the areas of economics, politics, law, social policy and geography.Table of ContentsContents: 1. Introduction (D.G. Mayes) 2. Setting and Influencing the Rules (S. Bulmer) 3. Implementing the Rules (J.A. Usher) 4. Competition among Rules in the European Union (S. Woolcock) 5. The Impact of Rules (K. Hartley, A. Cox and D. Mayes) 6. Socio-economic Environments and Rule-making in the EU (R.M. Lindley) 7. The Evolution of Rules (D. Matthews) 8. The Single Market, European Integration and Political Legitimacy (A. Weale) 9. The External Impact (C. Brewin) 10. Mutual Trust, Credible Commitments and the Evolution of Rules for a Single European Market (G. Majone) Index

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Book SynopsisThe Emergence and Evolution of Markets examines the development of markets based on empirical examples from Western economies and from the post-socialist economies of Eastern Europe. It provides an historical dimension to the present problems of transition.The Emergence and Evolution of Markets clearly demonstrates that liberalization, privatization and changes to formal institutions are not in themselves sufficient to create a successful market economy. In the first part, there is an analysis of general aspects of economic theory with regard to market evolution and an historical assessment of the development of markets. The authors then examine the experiences of some specific markets, including the telecommunications and stock markets to draw general conclusions. In part three they focus on the emerging market systems in post-socialist countries, particularly Kyrgyzstan and Bulgaria. In addition, the discussion offers an empirical analysis of the evolution of capital, currency and agricultural markets, emphasizing the importance of transaction costs and institutions in the development of these markets. This major book will prove invaluable to academics and policymakers interested in the areas of transition economics, political economy, and policy analysis.Trade Review'This book could profitably be read by more than economists or specialists on Hungary. It does not require a sophisticated technical knowledge, and it goes well beyond a country study. What Kornai makes clear is that post communist transition is a process of worldwide significance to be explored with the whole array of tools provided by the social sciences.' -- Marie Lavigne, Slavic Review'. . . the book can be recommended as a valuable attempt at rethinking transition economics. One may hope that further attempts in this direction will contribute to enriching economics itself.'– Philippe Fontaine, The Economic JournalTable of ContentsContents: Foreword Part I: General Aspects Part II: Evolution of Markets: Experiences and Prospects from the West Part III: From Hierarchies to Markets: The Post-Socialist Experience Index

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Book SynopsisTrade and the Environment presents the most important published articles and papers which are essential to an understanding of the complex interrelationship between trade and the environment - an area which reflects the increasing concern about the protection of the earth's environment and natural resources.The book examines the subject from three perspectives. The first section offers an economic analysis of the trade and environment relationship, including the problems of cost and the methodological approaches to analyses of trade and environment; and exploration of how international and national trade and environment policies affect each other and an investigation of how firms and corporations adjust their strategies to respond to environmental regulation. The second section, which is devoted to the legal aspects of the conflict between trade and environmental policies, explores the implications of existing international trade agreements for good environmental practice and investigates the effects of national environmental laws on international trade. The final section is concerned with government policy and the way in which national governments construct international 'regimes' which affect the interplay between trade liberators and environmental regulators.Trade and the Environment provides a clear insight into an area of current concern and points to future issues in the rapidly emerging trade and environment regime.Trade Review'The papers are summarised in a concise and very readable introductory essay. . . . this book represents a well-chosen and comprehensive selection of articles from the rapidly growing literature on trade and the environment, and contains everything necessary for the reader who looks for a holistic overview of the entire issue.' -- Till Stoll, The Economic JournalTable of ContentsContents: Introduction (A.M. Rugman and J.J. Kirton) Part I: Economic Perspectives Part II: Legal Perspectives Part III: Policy Perspectives Name Index

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Book SynopsisThis two volume set presents a wide-ranging selection of important articles, which explore the effects of the globalization of the world economy on developing and newly industrialized countries. It investigates policies of liberalizing trade in developing countries and the effects of the inflow of capital and investment; it explores how the trend towards developing regional trading areas in for example, Europe, the Americas and the Pacific area, affects and is affected by globalization. Further topics include the role of multinational firms, the effects of the economic decisions taken by worldwide organizations or by the institutions of the major economic players, and the impact of global policy issues such as environment and trade on emerging economies.Trade Review'This hefty collection of articles serves as a valuable introduction to the main issues regarding the implications of increasing global economic integration especially for developing countries. Together these two fine volumes constitute the fourth part of Mark Casson's excellent series The Globalization of the World Economy.' -- Journal of Peace ResearchTable of ContentsContents: Introduction Volume I Part I: Countries Part II: Capital Flows and Financial Liberalization in Developing Countries Part III: The Relationship between Globalization and Regional Integration • Volume II Part I: Multinational Firms, Exports and Developing Countries Part II: Sectoral Issues Part III: Multilateral Institutions and the Developing Countries Part IV: Global Policy Issues and the Developing Countries

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