International economics Books

Book SynopsisThis important book presents an in-depth analysis of the neo-liberal viewpoint on globalization and its impact on labour relations. The policies of states and multinational corporations as well as their effects are analysed from the perspectives of international political economy, institutional economics, cultural studies and industrial relations.The authors analyse the trade union critique, labour market segmentation and the erosion of regulatory practices and standards which give labour some degree of protection. This innovative book combines theoretical analysis with empirical detail and focuses on various sectors of industry such as mining, home appliances, logistic services and the media as well as the main regional blocks of the global economy - Europe, Australia-Asia and America.Trade Review'. . . contains some excellent articles . . . it is very well edited and covers in a coherent way the theme of globalization / de-regulation . . . the anthology is a pleasure to read because it deals with some profound issues of labour market regulation.'Table of ContentsContents: 1. Introduction 2. Globalization – Frequently Asked Questions and Some Surprising Answers 3. Towards the Denaturing of Class Relations? 4. In the Name of ‘Globalization’ 5. Imagined Solidarities 6. Fragmenting the Internal Labour Market 7. Global Logistic Chains 8. The International Restructuring of the Media Industries 9. Work Reorganization in a Globalized Mining Industry 10. Australia’s Historic Industrial Relations Transition Index

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

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Book SynopsisThe Pacific is a high growth region, comprising East Asian market economy states, North America, China, Australia and New Zealand. This book examines the area's rapidly expanding pattern of corporate competition and cooperation, which is assisting recoveries from the effects of the East Asian financial crises. The authors argue that the uneven but dynamic integration in the Pacific region which was disrupted by the financial crises is continuing in ways that promise resumptions of higher interdependent growth when fundamental adjustments have been completed. They emphasize that the regional recovery could be assisted by innovative new efforts to promote wider ranging cooperation in the Asia Pacific Economic Cooperation forum (APEC), which is committed to regional trade and investment liberalization over the next decade.Trade Review'. . . the volume provides a useful . . . exploration of key issues affecting the development of the Asia-Pacific region.' -- Mark Beeson, Asia Pacific Business ReviewTable of ContentsContents: Preface 1. Pacific Integration and Globalization 2. East Asian Crises and Regional Economic Integration 3. Pacific Economic Integration and the ‘Flying Geese’ Paradigm 4. Pacific Market Integration 5. Multinational Enterprises in APEC 6. Corporate–Government Relations in the Pacific 7. Corporate Interaction, Direct Investment and Regional Cooperation in Industrializing Asia 8. Bank Loan Capitalism and Financial Crises 9. Pacific Collective Management Index

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Book SynopsisDifferences in technology between countries and the effect of this on trade performance have important consequences for the growth and development of countries. This book analyses the role of innovation in influencing the trade performance of developed countries. It presents an up-to-date systematic empirical evaluation of the role of technology in a group of key industrialized economies and integrates differences in technology into the debate about European Union and country convergence in general.The book will be welcomed by scholars and students of industrial economics, the economics of technology change and international trade.Trade Review'It is a well-written contribution on an important and interesting issue that may be of interest to both scholars and a wider audience.'Table of ContentsPart one Technology and trade theory: the treatment of technology; measuring the impact of technology. Part two Technology and inter-country trade: trade and innovation in the European Union; the impact of innovation on bilateral OECD trade. Part three Technology and the international economic performance of firms: innovation and exports at the firm level.

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Book SynopsisThis volume offers an impressive collection of scholarly papers which investigate the historical foundations of globalization before 1945. The book explores the effects of the nineteenth century technologies of the railway, the telegraph and the steamship which promoted the globalization process by boosting trade across frontiers and triggering migration of labour and flows of capital to the temperate areas of agriculture. The colonial empires, in particular the British Empire, facilitated the process, as the integration of capital markets and monetary systems and methods of business organization followed trade and labour. The volume also covers the time between the wars, when impediments to trade, migration and currency movements increased and led to a period of deglobalization and divergence.Trade Review'It has been nicely produced by the publishers, who have reprinted the extracts in their original style. It will feature on many reading lists and will be recommended by economic historians to their students . . . It will be conveniently consulted as an alternative source for many scholarly articles in international economic history. It will provide plenty of academic nourishment. . .' -- Robert G. Greenhill, Business HistoryTable of ContentsContents: Part I: The Technology of Nineteenth Century Globalization Part II: Trade, Prices and Globalization Part III: The Monetary System of Globalization, Capital Market Integration and Foreign Debt Part IV: Business and Globalization Part V: Migration and Globalization Part VI: Deglobalization Between the Wars Part VII: Political Economy of Globalization

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Book SynopsisThis volume contains 21 selected essays by Professor Sir Hans Singer written over the last two decades. The volume addresses:- development economics in historical perspective and considers where it stands today the early pioneers of 'development' thinking including Smith and Keynes growth, industrialization and trade current questions of the terms of trade debate and import substitution North-South and South-South linkages foreign aid The author gives grateful thanks to Matthew Morris and Hans Ulrich Esslinger for their contributions to this book.Table of ContentsContents: Part I: Introduction Part II: Pioneers of Development Economics Part III: Growth, Industrialization and Trade Part IV: Import Substitution and Terms of Trade Controversy Part V: North-South and South-South Trade Part VI: Aid

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Book SynopsisThe pursuit of economic growth is at the top of every nation's policy agenda at the end of the 20th century. This authoritative and comprehensive book goes beyond the narrowly-based convergence model of economic growth by considering global, national and regional patterns of growth from a comparative perspective. Issues examined include: the evolution of the firm and the role of R&D long-term implications of the loss of national sovereignty international 'openness' social and political institutions patterns of regional harmonization in the United States, particularly income and earnings trends across states and the reasons for convergence persistent regional disparities in Europe including the roles of sectoral transformation, regional spillovers, human capital formation and the allocation of structural funds the experience of convergence in individual countries including Italy, the UK, Spain and Germany Trade Review'. . . this is an interesting book containing on the whole respectable well-tried approaches typical of the mid-to-late 1990s and addressing serious issues of real practical concern to human welfare, rather than being an expose of avant-garde innovations in methodology or theory. . . the contributions are well written and accessible, so that the book could profitably be used as supplementary reading by advanced students of regional economics, regional science or quantitative economic geography. The editors and authors, have made a significant and important contribution.'Table of ContentsContents: Introduction Part I: The Fabric of Global Economic Growth Part II: Contrasting Patterns: The United States and Europe Part III: Regional Mosaics in National Contexts Index

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Book SynopsisTwo of the most important economic processes at work in recent years are the globalization of the world economy and the economic transition in Central and Eastern Europe and the former Soviet Union. This book analyses the transition process from a comparative perspective and places these changes within the wider framework of globalization.It assesses the problems of transition faced by business and governments to better understand the direction in which future economic and political policy should move for improved growth. It evaluates the current stage of economic development in the transitional countries and discusses trends in the world economy since the early 1990s. Specifically, it addresses trends in global and regional development strategies, government policies, privatization, foreign investment and external balances. The authors then analyse the future prospects for economic and political relations between Eastern Europe and the European Union, the World Trade Organization and the international community as a whole. Some of the specific issues they focus on include US industrial competitiveness policy, economic nationalism, privatization in Eastern Europe, venture capital activities, the required economic conditions for Eastern European countries to join the European Union, regionalism and industrial policy for Eastern Europe, and lessons to be learned from the Japanese and Hong Kong transformations, as well as a comparative assessment of some political aspects of the economic strategies in Japan and Germany.Eastern Europe and the World Economy will be welcomed by scholars and students interested in the economics of transition, comparative economic systems, international economics and development economics, as well as by policymakers and government officials.Trade Review'The book makes a valuable contribution to the rather controversial issues of the mutual interweaving of transition and globalization. Although it covers a wide variety of topics it creates an integrated and coherent product . . . One can say that the book will not only assist scholars but also managers in their dealings with the countries of Central and Eastern Europe in their transformation into modern market economies integrated into the processes of globalization.' -- Matija Rojec, Journal of International Relations and Development '. . . the chapters are . . . interesting and well argued . . . some of the authors' suggestions are as relevant today as they were at the time of writing.'– Andras Koves, Slavic ReviewTable of ContentsContents: Introduction Part I: The Developed Economies Part II: The East European Economies Part III: International Organizations and the Transitional Economies in Eastern Europe Part IV: Selected Aspects and Perspectives Index

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Book SynopsisThis important two volume collection of previously published journal articles and book excerpts provides an extensive array of readings in the economics and politics of international trade and investment policy.Volume One focuses on the globalization of business and links policy issues to economic and political theory and to the strategies of corporations. Volume Two concentrates on multilateral institutions and agreements, regional arrangements and linkages among trade, investment, labour and environmental policy issues.The articles included in this collection have been drawn from diverse sources and represent analyses by scholars of many persuasions and nationalities.Table of ContentsContents: Acknowledgements Introduction Thomas L. Brewer Volume I: Part I: Policy in the Context of Globalization 1. World Bank (1997), ‘Foreign Direct Investment and Global Integration’ 2. H. Peter Gray (1995), ‘The Modern Structure of International Economic Policies’ 3. Charles-Albert Michalet (1994), ‘Transnational Corporations and the Changing International Economic System’ 4. John H. Dunning (1992), ‘The Global Economy, Domestic Governance, Strategies and Transnational Corporations: Interactions and Policy Implications’ 5. Alan M. Rugman and Michael V. Gestrin (1991), ‘US Trade Laws as Barriers to Globalisation’ 6. Jagdish N. Bhagwati (1985), ‘Protectionism: Old Wine in New Bottles’ 7. Edward M. Graham and Robert Z. Lawrence (1996), ‘Measuring the International Contestability of Markets: A Conceptual Approach’ 8. James D. Gaisford (1996), ‘On the Relative Gains from Liberalized Foreign Investment’ Part II: Theory and Policy 9. Robert E. Baldwin (1992), ‘Are Economists’ Traditional Trade Policy Views Still Valid?’ 10. Paul R. Krugman (1993), ‘The Narrow and Broad Arguments for Free Trade’ 11. Paul Krugman (1992), ‘Does the New Trade Theory Require a New Trade Policy?’ 12. Rachel McCulloch (1983), ‘The Optimality of Free Trade: Science or Religion?’ 13. Asad Alam (1995), ‘The New Trade Theory and its Relevance to the Trade Policies of Developing Countries’ 14. Kyle Bagwell and Robert W. Staiger (1990), ‘A Theory of Managed Trade’ Part III: Firms’ Strategies and Governments’ Policies 15. Raymond Vernon (1981), ‘Sovereignty at Bay: Ten Years After’ 16. Farok J. Contractor (1990), ‘Ownership Patterns of U.S. Joint Ventures Abroad and the Liberalization of Foreign Government Regulations in the 1980s: Evidence From the Benchmark Surveys’ 17. Dennis J. Encarnation and Louis T. Wells, Jr. (1985), ‘Sovereignty en Garde: Negotiating with Foreign Investors’ 18. Helen Milner (1988), ‘Trading Places: Industries for Free Trade’ 19. David W. Loree and Stephen E. Guisinger (1995), ‘Policy and Non-policy Determinants of U.S. Equity Foreign Direct Investment’ Part IV: Domestic Politics and Policy 20. Sylvia Ostry (1992), ‘The Domestic Domain: The New International Policy Arena’ 21. John S. Odell (1990), ‘Understanding International Trade Policies: An Emerging Synthesis’ 22. John B. Goodman, Debora Spar and David B. Yoffie (1996), ‘Foreign Direct Investment and the Demand for Protection in the United States’ 23. Thomas L. Brewer (1992), ‘An Issue-Area Approach to the Analysis of MNE-Government Relations’ 24. Gene M. Grossman and Elhanan Helpman (1995), ‘The Politics of Free-Trade Agreements’ 25. Arye L. Hillman and Heinrich W. Ursprung (1988), ‘Domestic Politics, Foreign Interests, and International Trade Policy’ Index Volume II: Part I: Multilateral Institutions and Agreements 1. Charles Lipson (1982), ‘The Transformation of Trade: The Sources and Effects of Regime Change’ 2. Susan Strange (1987), ‘The Persistent Myth of Lost Hegemony’ 3. Paul M. Goldberg and Charles P. Kindleberger (1970), ‘Toward a GATT for Investment: A Proposal for Supervision of the International Corporation’ 4. C. Fred Bergsten and Edward. M. Graham (1992), ‘Needed: New International Rules for Foreign Direct Investment’ 5. Pierre Sauvé (1994), ‘A First Look at Investment in the Final Act of the Uruguay Round’ 6. Pierre Sauvé (1995), ‘Assessing the General Agreement on Trade in Services: Half-Full or Half-Empty?’ 7. Americo Beviglia Zampetti (1995), ‘The Uruguay Round Agreement on Subsidies: A Forward-Looking Assessment’ 8. Thomas L. Brewer and Stephen Young (1996), ‘Investment Policies in Multilateral and Regional Agreements: A Comparative Analysis’ 9. Development Committee of the International Monetary Fund and the World Bank (1992), ‘Guidelines on the Treatment of Foreign Direct Investment’ Part II: Regional Institutions and Agreements 10. Stephen J. Kobrin (1995), ‘Regional Integration in a Globally Networked Economy’ 11. Michael Gestrin and Alan M. Rugman (1994), ‘The North American Free Trade Agreement and Foreign Direct Investment’ 12. Edward M. Graham and Christopher Wilkie (1998), ‘Regional Economic Agreements and Multinational Firms: The Investment Provisions of the NAFTA’ 13. James R. Markusen, Thomas F. Rutherford and Linda Hunter (1995), ‘Trade Liberalization in a Multinational-Dominated Industry’ 14. Edward M. Graham (1994), ‘Towards an Asia-Pacific Investment Code’ 15. Thomas Brewer and Stephen Young (1995), ‘European Union Policies and the Problems of Multinational Enterprises’ 16. Tamar Almor and Seev Hirsch (1995), ‘Outsiders’ Response to Europe 1992: Theoretical Considerations and Empirical Evidence’ Part III: Inter-Policy Linkages 17. World Trade Organization (1996), ‘Trade and Foreign Direct Investment’ 18. T.N. Srinivasan (1996), ‘Post-Uruguay Round Issues for Asian Developing Countries’ 19. Karl P. Sauvant, Padma Mallampally and Persephone Economou (1993), ‘Foreign Direct Investment and International Migration’ 20. Thomas L. Brewer and Stephen Young (1997), ‘Investment Incentives and the International Agenda’ 21. Hiro Lee and David Roland-Holst (1997), ‘The Environment and Welfare Implications of Trade and Tax Policy’ 22. Niek De Jong and Rob Vos (1995), ‘Regional Blocs or Global Markets? A World Accounting Approach to Analyze Trade and Financial Linkages’ Index

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Book SynopsisThis major Handbook offers a comprehensive analysis of the key issues surrounding the rapid expansion of Latin America's manufacturing sector. It systematically examines the most important factors influencing the comparative advantages and the globalization of manufacturing industries in the region.The Handbook of Latin American Trade in Manufactures provides a detailed account of trade and investment policies, international technology transfers, macroeconomic stabilization and structural adjustment policies and industry-specific initiatives affecting the export competitiveness of Latin America's manufactures. The four major parts of the Handbook contain detailed assessments of regional and country-specific developments in manufacturing trade, and the statistical appendix provides essential information on the countries of the region.This Handbook will be welcomed by a wide range of economists in the fields of international trade and investment, industrial organization, development economics and Latin American Trade. It will also be of interest to business analysts and policymakers concerned with the formation of trade strategies.Trade Review'Do not be misled by the faintly ambiguous title of this superb publication edited by Montague Lord, it is much more than a directory covering basic information on the manufacturing industry in Latin America.' -- British Bulletin of PublicationsTable of ContentsContents: 1. Introduction (M.J. Lord) Part I: The Region Part II: Argentina Part III: Brazil Part IV: Mexico Part V: Chile Statistical Appendix (M. McPeak) Index

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Book SynopsisService Industries in the Global Economy is a comparative international reference collection which identifies and reprints the most important articles on services and the service economy written by geographers, economists and sociologists. The focus is on the growth and evolution of service activities in the advanced economies of Europe, North America and the Pacific Rim within the framework of the global economy.The first volume explores the shift away from manufacturing employment towards a variety of service occupations in the advanced economies. It provides an empirical and theoretical account of the transformation, exploring the growth and nature of service employment as well as the evolution of a service class and the issue of social polarisation. The second volume explores the relationship between service activities and economic development as well as the relationship between producer services and manufacturing companies. It also provides an analysis of the growth of multinational service firms and examines the relationship between services, technological change and globalisation.Trade Review'The papers it contains make compelling reading on the problematic nature of defining service activities and occupations, and the difficulty of accounting for the growth in service employment given the evolution of the broader economic system of which services are a part and the heterogeneity of the sector itself. . . . The structure of the collection has been carefully thought through and coheres well. . . . brings together a set of important articles from a diverse range of journals, the scope of which is likely to be represented in only the largest of university libraries' holdings.' -- Niall Majury, Progress in Human GeographyTable of ContentsContents: Volume I: Introduction Part I: Towards the Service or Post-Industrial Society Part II: Theories of the Service Economy Part III: Service Employment Part IV: The Nature of Service Work Part V: Social Polarization and the Rise of the Service Class • Volume II: Introduction (as vol 1) Part I: Services and Economic Development Part II: Producer Services Part III: Multinational Service Firms Volume IV: Services, Technological Change and Globalization

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Book SynopsisInternational strategies and the organizational designs of multinational corporations are in a period of transition; the dominant designs of the recent past are gone and new dominant designs have not yet emerged. This authoritative collection of articles by leading international scholars presents the dominant ways of examining and understanding these current changes. It investigates contrasting points of view and provides the reader with a framework for evaluating the transformation of international corporations and for developing a critical insight which will be as useful for understanding future changes as it is for understanding those that have already occurred.Table of ContentsContents: Introduction (W.G. Egelhoff) Part I: The Contextual Environment Driving Organizational Transformation Part II: Broad-Based Models of Organizational Transformation Part III: Subsidiary-Level Perspectives of Organizational Transformation Part IV: Models and Studies Dealing with Specific Aspects of Organizational Transformation Name Index

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Book SynopsisThis timely book provides an innovative examination of financial integration in the European Union - an issue that has become of paramount importance in view of the commencement of European Economic and Monetary Union.The author begins by assessing three different methods of financial integration in the European Union: interest parity conditions, savings-investment correlations and consumption correlations. He goes on to examine the fundamental determinants of financial integration and analyses the factors likely to influence the movement of capital within the European Union. The blend of empirical and theoretical research provides the reader with a comprehensive account of the progress made in integrating financial markets in the European Union.Integrating Financial Markets in the European Union will be essential reading for students and scholars of monetary economics, international finance and European integration. It will also prove useful to practitioners and policymakers working in central banking and government.Trade Review'. . . scholars of monetary economics and international finance specialising in European integration will find the book timely and useful.'Table of ContentsContents: 1. Integrating Financial Markets in the European Union: An Introduction Part I: The Measurement of Financial Integration 2. The Price Approach to Financial Integration: Decomposing European Money Market Interest Differentials 3. The Quantity Approach to Financial Integration: The Feldstein-Horioka Criterion Revisited 4. Financial Integration in Europe: Evidence from Euler Equation Tests Part II: The Determination of Financial Integration 5. The Fundamental Determinants of Financial Integration in the European Union 6. Short-term and Long-term Government Debt and Nonresident Interest Withholding Taxes Part III: Conclusion 7. Summary and Conclusions

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Book SynopsisTaiwanese foreign direct investment rapidly expanded in the mid-1980s when the domestic wage rate and the value of the Taiwanese currency skyrocketed simultaneously. Losing their competitive edge at home, many Taiwanese firms relocated to lower wage countries; mainly Southeast Asia and China.Taiwanese Firms in Southeast Asia provides a comprehensive review of Taiwan's direct investment in Southeast Asia, including Indonesia, Malaysia, Thailand, the Philippines and Vietnam. It also explores the motivation behind investment in Asia, Europe and the US. In most countries, incidence of foreign direct investment is positively correlated with firm size. However, in Taiwanese firms, the opposite is true. The book examines the reasons for this and assesses the difference in practice between small and large firms conducting foreign direct investment, focusing on the manufacturing sector. The book also includes an original, comprehensive survey and a series of interviews with Taiwanese parent firms and their subsidiaries in Southeast Asia. The authors conclude that networking underscores the core competitiveness of Taiwanese firms and when these firms invest abroad, they attempt to maintain a close connection with domestic networks to retain competitiveness and flexibility. However, they will have difficulty in sustaining this in the long-term because co-ordination of production across national borders requires intensive input of managerial resources which are scarce among Taiwanese firms. In the long-term, they have to localize and integrate themselves into the local networks.The book is a result of joint research efforts by Taiwanese, American and Southeast Asian scholars and will be required reading for students and scholars of economies in Southeast Asia, international business, Asian studies and multinational enterprise.Trade Review'Rather one of the merits of this book is that it brings up numerous issues calling for further research. This work has opened the way and set down a solid foundation for future research, for which I would like to express to the contributors of this study my fullest approval and gratitude.'Table of ContentsContents: Preface 1. Introduction 2. FDI by Small and Medium-Sized Enterprises in Developed Countries 3. FDI by Small and Medium-Sized Enterprises from Taiwan 4. Economic Effects of Taiwanese FDI on Host Countries 5. Noneconomic Elements of Taiwan’s Foreign Direct Investment 6. Taiwanese Investment in Indonesia 7. Taiwanese Investment in Malaysia 8. Taiwanese Investment in Thailand 9. Taiwanese Investment in the Philippines 10. Taiwanese Investment in Vietnam 11. Conclusions Bibliography Index

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Book SynopsisThis volume is an authoritative collection of 25 key papers in the development of continuous time finance. Its five sections cover the continuous time model, dynamic portfolio selection, equilibrium models, derivative pricing and, finally, term structure and other applications. It includes seminal contributions in areas such as: the Martingale approach to no-arbitrage pricing; dynamic models of consumption and portfolio selection; the inter-temporal and consumption based asset pricing models; contingent claims pricing; the term structure of interest rates and the use of changes in numeraire in options pricing.This book will be an essential source of reference for students and researchers in finance and, indeed, anyone needing access to the key papers in this important field.Table of ContentsContents: Acknowledgements Foreword by Richard Roll Introduction Stephen Schaefer PART I THE CONTINUOUS TIME MODEL IN FINANCE 1. Robert C. Merton (1982), ‘On the Mathematics and Economics Assumptions of Continuous-Time Models’ 2. J. Michael Harrison, Richard Pitbladdo and Stephen M. Schaefer (1984), ‘Continuous Price Processes in Frictionless Markets Have Infinite Variation’ 3. J. Michael Harrison and David M. Kreps (1979), ‘Martingales and Arbitrage in Multiperiod Securities Markets’ 4. Darrell Duffie and Chi-fu Huang (1985), ‘Implementing Arrow-Debreu Equilibria By Continuous Trading of Few Long-Lived Securities’ PART II INTERTEMPORAL PORTFOLIO SELECTION 5. Robert C. Merton (1969), ‘Lifetime Portfolio Selection Under Uncertainty: The Continuous-Time Case’ 6. Robert C. Merton (1971), ‘Optimum Consumption and Portfolio Rules in a Continuous-Time Model’ 7. John C. Cox and Chi-fu Huang (1989), ‘Optimal Consumption and Portfolio Policies when Asset Prices Follow a Diffusion Process’ 8. John C. Cox and Chi-fu Huang (1991), ‘A Variational Problem Arising in Financial Economics’ 9. Lucien Foldes (1978), ‘Optimal Saving and Risk in Continuous Time’ 10. M.H.A. Davis and A.R. Norman (1990), ‘Portfolio Selection with Transaction Costs’ PART III EQUILIBRIUM MODELS 11. Robert C. Merton (1973), ‘An Intertemporal Capital Asset Pricing Model’ 12. Douglas T. Breeden (1979), ‘An Intertemporal Asset Pricing Model with Stochastic Consumption and Investment Opportunities’ 13. John C. Cox, Jonathan E. Ingersoll, Jr. and Stephen A. Ross (1985), ‘An Intertemporal General Equilibrium Model of Asset Prices’ 14. Douglas T. Breeden (1986), ‘Consumption, Production, Inflation and Interest Rates: A Synthesis’ 15. Hua He and Hayne Leland (1993), ‘On Equilibrium Asset Price Processes’ PART IV DERIVATIVE PRICING 16. Robert C. Merton (1977), ‘On the Pricing of Contingent Claims and the Modigliani-Miller Theorem’ 17. Richard Roll (1977), ‘An Analytic Valuation Formula for Unprotected American Call Options on Stocks with Known Dividends’ 18. William Margrabe (1978), ‘The Value of an Option to Exchange One Asset for Another’ 19. M. Barry Goldman, Howard B. Sosin and Mary Ann Gatto (1979), ‘Path Dependent Options: "Buy at the Low, Sell at the High"’ 20. Farshid Jamshidian (1993), ‘Option and Futures Evaluation with Deterministic Volatilities’ 21. Hélyette Geman, Nicole El Karoui and Jean-Charles Rochet (1995), ‘Changes of Numéraire, Changes of Probability Measure and Option Pricing’ PART V TERM STRUCTURE AND OTHER APPLICATIONS 22. Fischer Black and John C. Cox (1976), ‘Valuing Corporate Securities: Some Effects of Bond Indenture Provisions’ 23. Hayne E. Leland (1994), ‘Corporate Debt Value, Bond Convenants, and Optimal Capital Structure’ 24. John C. Cox, Jonathan E. Ingersoll, Jr. and Stephen A. Ross (1985), ‘A Theory of the Term Structure of Interest Rates’ 25. M.J. Brennan and E.S. Schwartz (1985), ‘Evaluating Natural Resource Investments’ Name Index

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Book SynopsisThis volume focuses on the crucial economic, political and legal aspects of global trading arrangements in the current transitional stage of the integration process. It provides an evaluation of the deepening and widening of the integration process, and places particular emphasis on the contentious issues which arise in the process of integrating previously unequal partners.Nations are contemplating taking part in various integration initiatives and schemes for a variety of purposes. They anticipate discernible improvements in the well-being of their citizens - that is, a rise in living standards resulting from closer economic integration. The international diverse group of authors begins by examining the general issues confronted by countries engaging in various levels of integration. They then go on to discuss theoretical and empirical studies of the implications of economic integration on welfare and public policy. It specifically addresses issues such as the impact on industry in participating countries and the effects of NAFTA on Mexico.This book will be welcomed by practitioners, academics and students interested in economic integration, international economics, political science and international business.Table of ContentsContents: Introduction Part I: Trade Theory, Policy and Welfare 1. Economic and Financial Integration 2. Implications of NAFTA on the Trade of US Economies 3. Welfare Effects of the Completion of the Single European Market 4. NAFTA, The EU and Agricultural Trade 5. The State of the Welfare State in the EU, Anno 1992 6. Economic Integration and Regional Economic Convergence in NAFTA and the EU Part II: Impact of Economic Integration on Industrial Organization 7. The Role of Small and Entrepreneurial Firms in Achieving Economic Integration during the Transition from Command to Market-based Economies 8. Trade Liberalization in Eastern European Countries and the Prospects of their Integration into the World Trading System 9. Long-run and Short-run Effects of Economic Integration on the Inflow of Foreign Direct Investment 10. Japanese Manufacturing FDI’s in Europe 11. Tendencies and Idiosyncrasies of European Trading Partners Part III: Lessons from the Case of Mexico 12. The Growing Anti-immigrant Debate in the North American Region and its Impact on Mexico 13. NAFTA and Mexico 14. Successful Integration and Economic Distress 15. Economic Integration, Exchange Rate and Competitiveness

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Book SynopsisThis timely book focuses on the liberalization of agricultural policy and questions whether it is compatible with the goal of achieving economic and environmental sustainability in the European Union. It presents an invaluable contribution to the growing literature on the sustainability and policy aspects of trade liberalization, focusing on European agriculture.Agriculture, Trade and the Environment discusses quantitative methods for the assessment of agriculture-environment trade-offs for policy analysis at the firm, regional or national levels. It also presents the experience of countries in Europe, with particular regard to the impact of the reform of the Common Agricultural Policy and the repercussions of the Uruguay Round. Using a wide range of analytical and quantitative tools, country case studies examine agricultural areas in Austria, Scotland, Italy, Spain, Greece and Estonia. The authors then go on to look at future developments in an enlarged EU context. They conclude that efficient policies for environmental management in the EU need to be tailored to fit local conditions. Any attempt to impose uniform policies across a region as environmentally and economically diverse as Europe will have widely divergent and unintended consequences.This book will prove invaluable to academics and students with an interest in agricultural economics, environmental and ecological economics and the European Union.Table of ContentsContents: Introduction 1. Comparative Statics on a Two-Country, One-Commodity, Two-Factor Agricultural Trade Model with Process-Generated Pollution 2. Quantifying Agriculture–Environment Tradeoffs to Assess Environmental Impacts of Domestic and Trade Policies 3. Decomposing the Effects of Trade on the Environment 4. Effects of CAP Reform on the Environment in the European Union 5. Consistency Between Environmental and Competitiveness Objectives of Agricultural Policies 6. EU Agriculture and the Economics of Vertically-Related Markets 7. Are Support Measures and External Effects of Agriculture Linked Together? 8. Principles for the Provision of Public Goods from Agriculture 9. The Impact of the Uruguay Round on the Agro-Food Sector and the Rural Environment it Italy 10. The Common Agricultural Policy and the Environment 11. The Productivity of Agrochemicals in Greece 12. Agriculture and the Environment in Transition 13. European Agriculture and the CAP

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

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Book SynopsisThis book sheds new light on a major issue on the international trade policy agenda - the promotion and defence of competition in globalizing markets.The liberalization of cross-border flows of goods, services and capital that has occurred during the last decade has made competition increasingly important. The authors discuss multi-national approaches to competition policy in the WTO, European Union, the Americas, OECD, UNCTAD and CER. They investigate the policy responses to anti-competitive, cross-border business transactions and argue that a growing reliance on competition law is not in itself sufficient to promote competition in globalizing markets. They conclude that to achieve genuine competition in globalizing markets, policymakers must have a more comprehensive and coherent policy governed by agreed competition principles.Table of ContentsContents: 1. Introduction Part I: Competition in Global Markets 2. The Framework for Policy Analysis Part II: Bilateral Cooperation on Competition Law Enforcement 3. Bilateral Cooperation Agreements Part III: The Approaches of Regional Trading Arrangements 4. The European Union 5. Closer Economic Relations Agreement 6. The Americas Part IV: Plurilateral Approaches 7. ITO, the GATT 1960 Decision and the United Nations 8. OECD 9. APEC Part V: Developments at the Multilateral Level 10. The World Trade Organization 11. An Historic Case - The Kodak/Fuji Dispute Part VI: Emerging Patterns and Principles 12. An Approach to Promoting Competition in Global Markets References Index

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Book SynopsisThis important collection of previously published articles and papers, together with an original introduction by the editor, provides both a comprehensive overview of the subject and a more detailed examination of the issues. Topics covered include: the objectives and effectiveness of foreign exchange intervention; the portfolio-balance and expectations channel; new approaches to foreign exchange intervention; technical analysis, private information and game-theoretic models.Table of ContentsContents: Introduction Part I: The Objectives of Foreign Exchange Intervention Part II: The Effectiveness of Foreign Exchange Intervention Part III: New Approaches to Foreign Exchange Intervention Index

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Book SynopsisThis book provides new insights into the performance of key economies in the Asia-Pacific region during the last three decades. It critically examines productivity growth, factor accumulation and economic efficiency at both the macro and micro levels.The authors use a variety of empirical techniques to measure the sources of economic growth in Hong Kong, Singapore, Taiwan, Korea, Japan, Malaysia, Thailand and China. The techniques employed range from traditional growth accounting to econometric frontier estimation and data envelopment analysis. As a comparison to the Asia-Pacific region, the growth experiences of G7 and 18 OECD countries are analyzed. The authors consider, among other issues, the influential role of trade in the region, macroeconomic management, income, capital, labor productivity, technology and investment. This innovative new book will be of interest to students and scholars of growth economics, public policy and Asian studies.Trade Review'The book provides considerable insights into the factors of productivity and efficiency change in rapidly growing economies.' -- S. Mohan, Journal of Scientific and Industrial Research'As a compilation of papers emanating from an academic conference, this is a remarkably cohesive volume. . . . the papers in this book remain true to the overall theme of the book. Such is not always the case with edited volumes and the editors should be commended. The papers comprising the chapters in the book are also extremely well written and should be accessible to those not well-versed in measurement of productivity growth and productive efficiency. Perhaps the best way to evaluate this book is in terms of how well it attains its stated objectives. Regarding its primary objective, which is to provide new insights into the performance of various economies of the region, the book is successful. . . . the book provides considerable insight into the potential factors driving economic growth. Most notable are the findings concerning the impact of trade, especially imports, and human capital on economic growth. In terms of the book's secondary objective of providing a variety of analytical techniques, it is also successful. The reader will find a wide range of methodological approaches that are innovative and, more importantly, clearly presented. Many of the papers also contain extensive discussions of data development and variable measurement. Individuals currently conducting research on economic growth in the Asian-Pacific region should find this book a good source of ideas for further research as well as a source of potential methodological approaches for empirical analysis. For those interested in beginning to conduct such research, this book provides an excellent avenue for getting up to speed quickly on the current state of knowledge concerning economic growth, total factor productivity, and productive efficiency, as well as an overview of the type of empirical models being employed.' -- Timothy G. Taylor, Journal of Comparative EconomicsTable of ContentsContents: 1. Editor’s Introduction Part I: International Studies A. The Asia-Pacific Region 2. An Alternative Tale of Two Cities 3. Sources of Growth in East Asian Economies 4. The Relative Efficiency and Rate of Technology Adoption of Asian and North American Airline Firms B. International 5. There is No Silver Bullet: Investment and Growth in the G7 6. Is the Asia-Pacific Region Different? Technical Progress Bias and Price Elasticity Estimates for 18 OECD Countries, 1960-1992 Part II: National Studies A. Macroeconomic Productivity Studies 7. A Tiger in the Land of the Panda: Growth Prospects for Hong Kong under Reversion to China 8. Productivity and Efficiency in China’s Regional Economies 9. Total Factor Productivity and Outward Orientation in Taiwan: What is the Nature of the Relationship? 10. Technology Adoption and Technical Efficiency in Taiwan: Foreign Investment Led versus Export Performance Promoted 11. Measurement of Total Factor Productivity in Japan: How to Evaluate Impacts of New Technologies on TFP Growth 12. Productivity Growth in Taiwan’s Manufacturing Industry, 1961-1993 B. Microeconomic Efficiency Studies 13. The Achilles’ Heel of Thailand’s Financial Market 14. Cost Efficiency of the Farmers’ Credit Unions in Taiwan 15. The Social Productivity of China’s Town and Village Enterprises Index

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Book SynopsisThis two-volume set offers an authoritative collection of significant papers by leading scholars in the field of international finance. Topics covered include the competitiveness of national currencies and the workings of foreign exchanges, the problems and advantages of foreign investment, the balance of trade and the balance of payments including the effects of exchange rates, and the arrangements of international payments and currency exchanges.The book presents an extensive overview of the subject and is a valuable guide to students and scholars with an interest in the workings of international exchanges and international investment.Table of ContentsContents: Volume I: Acknowledgements • Introduction Part I: The Competitiveness of National Monies 1. John Maynard Keynes (1913), ‘The Present Position of the Rupee’, ‘The Gold-Exchange Standard’ and ‘Paper Currency’ 2. Gustav Cassel (1916), ‘The Present Situation of the Foreign Exchanges’ 3. Constantino Bresciani-Turron (1931), ‘Foreign Exchanges and Internal Price Movements in Germany, 1914 to 1923’ and ‘The National Finances, the Inflation and the Depreciation of the Mark’ 4. John Maynard Keynes (1924), ‘The Theory of Money and the Exchanges’ 5. Irving Fisher (1930), ‘The Relation of Interest to Money and Prices’ 6. Frank D. Graham (1930), ‘Price Relationships under the Influence of Inflation’ 7. Joan Robinson (1937), ‘The Foreign Exchanges’ 8. Fritz Machlup (1939), ‘The Theory of Foreign Exchanges: Part I’ and ‘The Theory of Foreign Exchanges: Part II’ 9. Rudiger Dornbusch (1976), ‘Expectations and Exchange Rate Dynamics’ Part II: International Investment 10. John Maynard Keynes (1924), ‘Foreign Investment and National Advantage’ 11. J.M. Keynes (1929), ‘The German Transfer Problem’ 12. Bertil Ohlin (1929), ‘The Reparation Problem: A Discussion’ and ‘A Rejoinder from Professor Ohlin’ 13. G.D.A. MacDougall (1960), ‘The Benefits and Costs of Private Investment from Abroad: A Theoretical Approach’ 14. Lloyd A. Metzler (1942), ‘The Transfer Problem Reconsidered’ 15. Hal B. Lary (1943), ‘The United States in the World Economy’ 16. Arthur I. Bloomfield (1950), ‘Some Over-all Aspects of the Movement of Capital to the United States’ and ‘Capital Imports and American Balance-of-Payments Adjustment’ 17. A.K. Cairncross (1953), ‘Fluctuations in Home and Foreign Investment, 1870–1912’, ‘Investment and Migration’ and ‘Did Foreign Investment Pay?’ 18. Ragnar Nurske (1954), ‘International Investment To-day in the Light of Nineteenth-Century Experience’ 19. Murray C. Kemp (1962), ‘Foreign Investment and the National Advantage’ 20. Herbert G. Grubel (1968), ‘Internationally Diversified Portfolios: Welfare Gains and Capital Flows’ Name Index Volume II: Part I: Balance of Payments Adjustments 1. D. Hume (1742/1903), ‘Of the Balance of Trade’ 2. Ragnar Nurske (1945), ‘Conditions of International Monetary Equilibrium’ 3. G. Haberler (1949), ‘The Market for Foreign Exchange and the Stability of the Balance of Payments: A Theoretical Analysis’ 4. Arnold C. Harberger (1950), ‘Currency Depreciation, Income and the Balance of Trade’ 5. Svend Laursen and Lloyd A. Metzler (1950), ‘Flexible Exchange Rates and the Theory of Employment’ 6. James Meade (1951), ‘The Meaning of Fiscal and Monetary Policy and of Internal Balance and External Balance’, ‘Financial Policy for Internal and External Balance’ and ‘Conflicts Between Internal and External Balance’ 7. J.R. Hicks (1953), ‘An Inaugural Lecture: I. Introductory Remarks. II. The Long Run Dollar Problem’ 8. Edward M. Bernstein (1956), ‘Strategic Factors in Balance of Payments Adjustment’ 9. J.J. Polak (1957), ‘Monetary Analysis of Income Formation and Payments Problems’ 10. Harry G. Johnson (1958), ‘Towards a General Theory of the Balance of Payments’ 11. F.H. Hahn (1959), ‘The Balance of Payments in a Monetary Economy’ 12. J. Marcus Fleming (1962), ‘Domestic Financial Problems under Fixed and under Floating Exchange Rates’ 13. R.A. Mundell (1963), ‘Capital Mobility and Stabilization Policy under Fixed and Flexible Exchange Rates’ 14. Bela Balassa (1964), ‘The Purchasing-Power Parity Doctrine: A Reappraisal’ 15. Tibor Scitovsky (1967), ‘The Theory of Balance-of-Payments Adjustment’ Part IV: International Payments Arrangements 16. Robert Triffin (1960), ‘Introduction’, ‘Convertibility: What and How?’, ‘The Changing Role of Monetary Reserves’, ‘Reserve Measurement and Adequacy Criteria’, ‘Reserve Adequacy at the End of 1957’, ‘Prospective Adequacy of Reserves over the Ten Years 1958-67’, ‘The Position of the Center Countries, ‘The Gold Exchange Standard’, and ‘Summary and Conclusions’ 17. Milton Friedman (1953), ‘The Case for Flexible Exchange Rates’ 18. Ragnar Nurske (1944), ‘Exchange Fluctuations’ 19. Harry G. Johnson (1970), ‘The Case for Flexible Exchange Rates, 1969’ 20. Charles P. Kindleberger (1970), ‘The Case for Fixed Exchange Rates, 1969’ 21. Milton Gilbert (1980), ‘Balance-of-Payments Adjustment and the Gold-Dollar System’ 22. Robert A. Mundell (1961), ‘A Theory of Optimum Currency Areas’ 23. Harry Johnson, ‘Theoretical Problems of the International Monetary System’ 24. John Williamson (1973), ‘Surveys in Applied Economics: International Liquidity’ 25. Emile Despres, Charles P. Kindleberger and Walter S. Salant (1966), ‘The Dollar and the World Liquidity – A Minority View’ 26. Peter H. Lindert (1969), ‘Key Currencies and Gold, 1900-13’ Name Index

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Book SynopsisBanking, foreign exchange, bonds, equities and insurance services are now provided through an increasingly global marketplace. In financial services, as in other activities, globalization can be seen as a process opening up national economies and markets, widening the extent and form of cross-border transactions, deepening the international character of productive activity. As such, globalization is propelled by liberalization of trade and deregulation of capital markets, underpinned by technological change which is lowering communication and transport costs and enhancing the international tradeability of services.This volume brings together a range of articles examining the nature of globalization in financial services and the implications of the internationalization process for financial and regulatory policies. Contributions range from early analyses by Milton Friedman of the Eurodollar market, Harry Johnson of regional financial centres and Herbert Grubel of multinational banking to more recent studies examining the stock market crash of 1987, the globalization of payment systems and the financial collapse of BCCI and Barings.The 38 articles are divided into six sections covering trade in financial services, multinational banking, Eurocurrency banking, offshore services, exchange and securities and regulatory issues.Table of ContentsContents: Acknowledgments Part I: Trade in Financial Services 1. H.W. Arndt (1984), ‘Measuring Trade in Financial Services’ 2. H.W. Arndt (1988), ‘Comparative Advantage in Trade in Financial Services’ 3. Fariborz Moshirian (1994), ‘Trade in Financial Services’ 4. Ingo Walter and H. Peter Gray (1983), ‘Protectionism and International Banking: Sectorial Efficiency, Competitive Structure and National Policy’ 5. Sydney J. Key (1990), ‘Is National Treatment Still Viable? US Policy in Theory and Practice’ 6. Robert Carter (1990), ‘Obstacles to International Trade in Insurance’ Part II: Multinational Banking 7. Herbert G. Grubel (1977), ‘A Theory of Multinational Banking’ 8. Jean M. Gray and H. Peter Gray (1981), ‘The Multinational Bank: A Financial MNC?’ 9. Charles P. Kindleberger (1983), ‘International Banks as Leaders or Followers of International Business: An Historical Perspective’ 10. Robert Z. Aliber (1984), ‘International Banking: A Survey’ 11. Barry Williams (1997), ‘Positive Theories of Multinational Banking: Eclectic Theory versus Internalisation Theory’ Part III: Eurocurrency Banking 12. Henry C. Wallich (1979), ‘The Eurocurrency Market’ 13. Milton Friedman (1969), ‘The Euro-Dollar Market: Some First Principles 14. Jürg Niehans and John Hewson (1976), ‘The Eurodollar Market and Monetary Theory’ 15. M.K. Lewis and K.T. Davis (1987), ‘Multipliers and the Portfolio Approach: A Geometric Exposition’ 16. R.B. Johnston (1979), ‘Some Aspects of the Determination of Euro-currency Interest Rates’ 17. Laurie S. Goodman (1980), ‘The Pricing of Syndicated Eurocurrency Credits’ 18. M.K. Lewis (1986), ‘The Future of Banking’ 19. T.J. Allen (1990), ‘Developments in the International Syndicated Loan Market in the 1980s’ Part IV: Offshore Services 20. Henry C. Wallich (1979), ‘Offshore Financial Centers’ 21. Milka Casanegra de Jantscher (1976), ‘Tax Havens Explained’ 22. Ian McCarthy (1979), ‘Offshore Banking Centers: Benefits and Costs’ 23. K. Alec Chrystal (1984), ‘International Banking Facilities’ 24. Harry G. Johnson (1976), ‘Panama as a Regional Financial Center: A Preliminary Analysis of Development Contribution’ 25. Zoran Hodjera (1978), ‘The Asian Currency Market: Singapore as a Regional Financial Center’ 26. Herbert G. Grubel (1982), ‘Towards a Theory of Free Economic Zones’ 27. Mark P. Hampton (1996), ‘Exploring the Offshore Interface: The Relationship Between Tax Havens, Tax Evasion, Corruption and Economic Development’ Part V: Exchange and Securities 28. Gavin Bingham (1991), ‘Foreign Exchange Market: Structure, Intervention and Liquidity’ 29. Alan Kirman (1995), ‘The Behaviour of the Foreign Exchange Market’ 30. Richard Roll (1988), ‘The International Crash of October 1987’ 31. Brian Scott-Quinn (1990), ‘US Investment Banks as Multinationals’ 32. Charles Lucas (1994), ‘Financial Innovation’ 33. Charles S. Sanford, Jr. (1994), ‘Financial Markets in 2020’ Part VI: Regulatory Issues 34. Yoshiharu Oritani (1991), ‘Globalization of Payment Network and Risks’ 35. Richard Dale (1991), ‘Regulating Banks’ Securities Activities: A Global Assessment’ 36. Richard Dale (1994), ‘International Banking Regulation’ 37. Brian Quinn (1995), ‘Derivatives and Risk Management: Insight from the Barings Experience’ 38. Mervyn K. Lewis (1997), ‘Counteracting Fraud: The Case of BCCI Revisited’ Index

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Book SynopsisSubregional economic cooperation has been an important yet relatively unexplored aspect of the quest by central and eastern European states to make the transition from integration in the Council for Mutual Economic Assistance to full EU membership.Martin Dangerfield provides a comprehensive and in-depth study of what has clearly been the most important initiative in this respect - the Central European Free Trade Agreement (CEFTA). He examines the origins, aims, objectives and structure of CEFTA as well as assessing the main results of the cooperation so far. Analysis is included on both the economic and political impact of CEFTA and its role as a pre-accession instrument to the EU. Martin Dangerfield discusses integration-deepening in the CEFTA context, the debate over institutionalization and the CEFTA enlargement process. The final part of the book examines the future viability of CEFTA in the context of the process of eastward expansion of the EU.This book will be a valuable addition to the existing literature in the area, appealing to academics and researchers in European and transition studies.Table of ContentsContents: Preface and Acknowledgements Chronology Introduction 1. Socialist Economic Integration 2. Integration Strategies in Post-communist Europe 3. CEFTA: Aims and Objectives, Structure, Content and Implementation 4. CEFTA and Reintegration of Central and Eastern Europe 5. Issues and Controversies in CEFTA Cooperation 6. European Union Enlargement and the Future of CEFTA 7. Conclusion Appendices Appendix 1: Extracts from the CEFTA Treaty Appendix 2: Activities of CEFTA Joint Committee and CEFTA Summit in 1997 Appendix 3: Summary Assessment, Conclusions and Recommendations for the Improvement of Cooperation Appendix 4: The Customs Union Between the Czech Republic and Slovakia Appendix 5: Statistical Tables Bibliography Index

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Book SynopsisDoes free trade contribute to the deterioration of the environment?This important book offers a fresh look at the trade-environment debate from a political-economic perspective. It provides an extensive analysis of the environmental consequences of free trade, and examines how trade affects environmental regulation in this age of regional and global economic integration.The book begins by providing a useful review of the literature on the environment-trade link and the effects of trade on environmental regulation. It is demonstrated that environmental regulation may affect trade and investment patterns, and as a consequence the competitiveness of a country or region. Using the North American Free Trade Agreement as a case study, the author examines the political influence of environmentalists and industry sub-groups on pollution standards in the United States. Rolf Bommer also discusses the European experience, and reveals that the European Union may affect pollution regulation considerably and increase the chance of higher environmental standards. He concludes that free trade offers the opportunity to introduce tighter pollution regulation due to the political influence of interest groups on environmental policy making.Economic Integration and the Environment will be welcomed by environmental economists, those interested in international economics as well as policymakers and practitioners.Trade Review'. . . Bommer's book provides an important contribution to the debate about the relationship between trade and the environment. Its limitations raise questions and will further promote this debate. It should be interesting in particular to researchers and policymakers.' -- Bettina Lange, Review of European Community and International Environmental Law'Rolf Bommer has produced a comprehensive, transparent and well written volume on the complicated relationships between economic integration and the environment. This book is indispensable for anyone interested in this important area on whatever continent.' -- Henk Folmer, Wageningen Agricultural University and Tilburg University, the Netherlands'Rolf Bommer shows that there is much to gain, both economically and environmentally, from economic integration. His work is a significant step forward in our understanding of the value of cooperation between nations.' -- John B. Braden, University of Illinois at Urbana-Champaign, USTable of ContentsContents: 1. Introduction 2. Trade and the Environment: An Overview 3. Economic Integration and the Environment: Theoretical Findings and Empirical Evidence 4. Economic Integration and the Environment: A Perfect Competition Approach with Applications to NAFTA 5. Economic Integration and the Environment: An Imperfect Competition Approach with Applications to the European Union 6. Economic Integration and the Environment: Imperfect Competition and Asymmetric Information 7. Comparison of Results and Policy Recommendations Bibliography

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Book SynopsisThis book focuses on the impact of foreign investment on selected sectors of two key transition economies - Russia and the Ukraine - to explain the effect of foreign direct investment on the transitional economy. It examines how key Western players in the international investment business have chosen whether to invest in the former Soviet Union and applies these findings to sectors within Russia and the Ukraine. Whilst recognizing the tremendous importance of foreign direct investment (FDI) as a means to upgrade technology in transition conditions, the study also examines the importance of FDI in internationalizing production. The authors question the difference globalization can make to a transition economy in a situation where domestic investment is not recovering, and where there is still no clear-cut upward trend in levels of production.Table of ContentsContents: 1. Introduction 2. Foreign Direct Investment in Transition Countries: A Global Perspective 3. Alliances and Emerging Patterns of Technological Integration and Marginalization of Central and Eastern Europe within the Global Economy 4. Foreign Direct Investment in Contemporary Russia: A General View 5. Foreign Direct Investment in the Science-Based Industries of Russia 6. Foreign Direct Investment in Relation to Small Enterprises in Russia 7. British and German MNCs in Russia and the FSU: Evidence from the Western Side 8. Foreign Direct Investment in Ukraine: First Results, Tendencies and Prospects 9. Foreign Direct Investment in the Former Soviet Union: New Insights Index

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Book SynopsisThis substantial book examines key economic, political and social aspects of Malaysia at the turn of the new century. It covers the years of rapid growth and dramatic structural change leading up to the 1997 financial crisis, and the subsequent adjustments which enabled the economy to resume its vigorous advance. The authors critically address affirmative action policies aiming to help Malays enter the modern economy and make income distribution more equitable while reducing poverty. They look at case studies of persisting poverty amidst economic progress, and also scrutinize the development of East Malaysia with its special problems away from the centre of power in Kuala Lumpur. The authors review the direction of politics after Prime Minister Mahathir, as well as exploring Malaysia's foreign, education, and labour policies. They canvass the idea of a 'new Malay' better adapted to modern society, investigate the position of the Chinese, examine the struggle for women's rights within the religious framework of Islam, and discuss the contributions of Malaysian NGOs to ongoing changes. They finally draw together crucial issues facing Malaysia in the 21st century.The contributors, who are leading scholars in their spheres, have produced a wide ranging and comprehensive guide to the economy and society of Malaysia. This book will be of great value and interest to students and scholars of Asian economics, development and social studies.Trade Review'. . . a welcome addition to the otherwise scanty literature on the Malaysian economy. Useful for academic, research, and professional collections on economic development in general and Southeast Asia in particular.' -- J.S. Uppal, ChoiceTable of ContentsContents: Preface Part I: General Part II: Economics and Income Distribution Part III: Politics and Other Aspects Part IV: Conclusions References Index

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Book SynopsisThis comprehensive new collection provides a careful selection of the major writings to have appeared in the field of foreign direct investment (FDI) and technological change since 1966.It has been prepared by one of the leading contributors and pioneers in this field, and is an area of research that has attracted a steady growth in interest over the last thirty years.After a new introduction which critically surveys the literature, the collection provides a comprehensive coverage that incorporates the early analysis of FDI and technology; the theoretical foundations of the analysis of technological change in multinational firms; theoretical models and empirical studies of technology transfer; the internationalization of technology creation; technology-based inter-company alliances; the co-evolution of FDI and technological development at country level; the geographical localization of the technological efforts of foreign-owned affiliates and technology spillovers between firms.Trade Review'This work is for honours students, researchers and academics, who will no doubt see it as a resource of key articles.' -- Economic Outlook and Business ReviewTable of ContentsContents: Volume I: Acknowledgements • Introduction Part I: Early Analysis and Theoretical Foundations 1. Raymond Vernon (1966), ‘International Investment and International Trade in the Product Cycle’ 2. John H. Dunning (1970), ‘Foreign Capital and Economic Growth in Europe’ 3. Edwin Mansfield (1974), ‘Technology and Technological Change’ 4. Stephen P. Magee (1977), ‘Multinational Corporations, the Industry Technology Cycle and Development’ 5. Giovanni Dosi (1984), ‘Technical Change in the International Environment: the Dynamics of Trade and Investment’ 6. John Cantwell (1991), ‘The Theory of Technological Competence and its Application to International Production’ 7. Bruce Kogut and Udo Zander (1995), ‘Knowledge, Market Failure and the Multinational Enterprise: A Reply’ Part II: Technology Transfer – Theory 8. Harvey Lapan and Pranab Bardhan (1973), ‘Localized Technical Progress and Transfer of Technology and Economic Development’ 9. Peter J. Buckley and Mark Casson (1976), ‘A Long-Run Theory of the Multinational Enterprise’ 10. Tetsunori Koizumi and Kenneth J. Kopecky (1977), ‘Economic Growth, Capital Movements and the International Transfer of Technical Knowledge’ 11. Ronald Findlay (1978), ‘Relative Backwardness, Direct Foreign Investment and the Transfer of Technology: A Simple Dynamic Model’ 12. W.H. Davidson and Donald G. McFetridge (1984), ‘International Technology Transactions and the Theory of the Firm’ 13. Jian-Ye Wang and Magnus Blomström (1992), ‘Foreign Investment and Technology Transfer: A Simple Model’ Part III: Technology Transfer – Historical and Empirical Analysis 14. Mira Wilkins (1974), ‘The Role of Private Business in the International Diffusion of Technology’ 15. D.J. Teece (1977), ‘Technology Transfer by Multinational Firms: The Resource Cost of Transferring Technological Know-How’ 16. Arthur W. Lake (1979), ‘Technology Creation and Technology Transfer by Multinational Firms’ 17. Edwin Mansfield and Anthony Romeo (1980), ‘Technology Transfer to Overseas Subsidiaries of U.S.-Based Firms’ 18. Robert C. Hirschey and Richard E. Caves (1981), ‘Research and Transfer of Technology by Multinational Enterprises’ 19. Nathan Rosenberg (1982), ‘The International Transfer of Technology: Implications for the Industrialized Countries’ Name Index Volume II: Part I: The Internationalization of Technology Creation 1. Edwin Mansfield, David Teece and Anthony Romeo (1979), ‘Overseas Research and Development by US-Based Firms’ 2. Ove Granstrand (1979), ‘R&D and Corporate Internationalization’ 3. Sanjaya Lall (1979), ‘The International Allocation of Research Activity by US Multinationals’ 4. Gary Hewitt (1980), ‘Research and Development Performed Abroad by US Manufacturing Multinationals’ 5. Lars Håkanson and Udo Zander (1988), ‘International Management of R&D: The Swedish Experience’ 6. Pari Patel (1995), ‘Localised Production of Technology for Global Markets’ 7. John Cantwell (1995), ‘The Globalisation of Technology: What Remains of the Product Cycle Model?’ 8. Marina Papanastassiou and Robert Pearce (1997), ‘Technology Sourcing and the Strategic Roles of Manufacturing Subsidiaries in the U.K.: Local Competences and Global Competitiveness’ Part II: Technology-Based Inter-Company Alliances 9. François Chesnais (1988), ‘Multinational Enterprises and the International Diffusion of Technology’ 10. David C. Mowery and Nathan Rosenberg (1989), ‘International and Domestic Collaboration in Research and Development’ 11. John Hagedoorn and Jos Schakensraad (1992), ‘Leading Companies and Networks of Strategic Alliances in Information Technologies’ 12. John Hagedoorn and Rajneesh Narula (1996), ‘Choosing Organizational Modes of Strategic Technology Partnering: International and Sectoral Differences’ 13. Frédérique Sachwald (1998), ‘Cooperative Agreements and the Theory of the Firm: Focusing on Barriers to Change’ Part III: The Co-Evolution of FDI and Technological Development 14. Sanjaya Lall (1987), ‘Multinationals and Technology Development in Host LDCs’ 15. Terutomo Ozawa (1991), ‘Japan in a New Phase of Multinationalism and Industrial Upgrading: Functional Integration of Trade, Growth and FDI’ 16. Terutomo Ozawa (1992), ‘Foreign Direct Investment and Economic Development’ 17. John H. Dunning and Rajneesh Narula (1996), ‘The Investment Development Path Revisited: Some Emerging Issues’ Part IV: Geographical Localization in Multinational Corporations and Technology Spillovers 18. Bruce Kogut and Sea Jin Chang (1991), ‘Technological Capabilities and Japanese Foreign Direct Investment in the United States’ 19. Ari Kokko (1994), ‘Technology, Market Characteristics, and Spillovers’ 20. Paul Almeida (1996), ‘Knowledge Sourcing by Foreign Multinationals: Patent Citation Analysis in the U.S. Semiconductor Industry’ 21. John H. Dunning (1996), ‘The Geographical Sources of the Competitiveness of Firms: Some Results of a New Survey’ 22. Tommaso Perez (1997), ‘Multinational Enterprises and Technological Spillovers: An Evolutionary Model’ Name Index

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Book SynopsisThis innovative book assesses the impact of labour standards on the competitiveness of firms through a comparison of developing and industrialized countries.The lack of a strict code of labour standards in developing countries is thought to result in unfair competition, which industrialized countries have used to justify protectionist policies. Developing countries are seen to oppose the adoption of labour standards, believing that such measures are likely to jeopardize their competitiveness in world markets. This book analyses both of these positions within the context of the current political debate on the subject. The authors investigate the reasons for implementing labour standards, and measure their impact upon firm competitiveness using a variety of empirical tests and statistics from approximately 165 countries. They conclude that labour standards do not have a significant impact on the competitiveness of firms or economies as a whole. From their evidence the authors offer policy advice including the decentralization of decision making for implementing labour standards, and the adoption throughout the world of core labour standards.Labour Standards and International Competitiveness will be welcomed by academics interested in international economics, development economics and labour economics, as well as by policymakers and practitioners working in international organizations.Table of ContentsContents: Introduction 1. A Political Issue: Two Opposing Views 2. The Economic Analysis 3. The Strength of the Evidence 4. Conclusion Appendices Bibliography

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Book SynopsisThis book brings together a carefully edited selection of new and previously published articles by P.J. Lloyd on the opening of national economies to international trade and investment, and the formation of a truly global economy. It illustrates the major changes to the world trading system and international economy that have emerged as a result of the liberalization of trade and investment during the last few decades.The essays combine theoretical analysis with empirical research on trends in the global economy. Along with a biographical introduction, the book features new introductions to each of the parts on protectionism, trade liberalization, investment and trade in the Asia-Pacific and intra-industry trade. The book presents a unified treatment of trends at national, regional and multilateral levels, as well as discussing the recent Asian crises.This book will be welcomed by those interested in the developments which have led to the 'opening-up' of the global economy in recent decades as well as international trade specialists, those in government and international organizations, and growth and development economists.Table of ContentsContents: Introduction Part I: The Global Economy Part II: Protectionism Part III: Unilateral Trade Liberalization Part IV: Regional Trade Liberalization Part V: Multilateral Trade Liberalization Part VI: Trade and Investment Liberalization in the Asia-Pacific Region Part VII: New Issues in the Global Economy Part VIII: The Theory and Measurement of Intra-Industry Trade Index

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Book SynopsisMany different types of private investment are described and their impact on the environment analyzed, leading to the conclusion - surprising for many - that improved environmental performance can accompany foreign direct investment. The book, the first in-depth study of these important links, is built around a series of case studies of various industries in Mexico, Argentina, Brazil and Costa Rica. The authors, a multi-national, multi-disciplinary team of experts, show how governments of developing countries can actually attract foreign investors by integrating environmental considerations into their investment promotion efforts. The book also identifies points of leverage for actions by governments, investors, environmental groups, and customers to increase even further the environmental benefits that can accompany private capital flows.This book makes an important and timely contribution to the debate on foreign direct investment and sustainable development. It will be of great interest to scholars and students of environmental economics, development economics, international finance, law, and management as well as to policymakers, environmental advocates, and private investors.Trade Review'Gentry and his co-authors provide a set of case studies of the environmental impact of private capital flows into four Latin American countries. What emerges are some important insights into, first, how these flows affect the environment (with some surprises), and, second, how public and private agents can work together to accommodate both commercial gain and improved environmental performance. Private capital flows, properly channeled, can contribute to our goal of sustainable development.' -- Wallace E. Oates, University of Maryland, US'The authors succeed admirably in introducing the reader to the main issues and complexities surrounding this topic. . . . The book's major contribution, in my opinion, is that it challenges the conventional wisdom-widely held in Latin America and elsewhere in the developing world-that governments have sole responsibility for ensuring that environmental standards are met.' -- Dennis J. Mahar, The World Bank, US'Gentry and his colleagues have written a comprehensive and authoritative assessment of private capital flows to emerging market countries and of their impacts on the environment. They emphasize the critical role that private capital plays in the financial transfers from post-industrial to developing nations (far exceeding foreign aid) and illustrate the impact on four Latin American countries. Their analyses of the impacts, both positive and negative, of capital investment on environment and natural resources in emerging market countries yield the first objective assessment of how capital flows affect the prospects for sustainable development. This book will become a basic reference for policy makers, business executives, students of development, and environmental groups in discussions of the environmental consequences of economic globalization in the 21st century. The lessons of experience summarized here provide a strong set of directions for putting both wealthy nations and emerging market countries on the path to sustainable development.' -- Dennis A. Rondinelli, University of North Carolina, US'An important and timely contribution to the debate on sustainable development in the developing world and--implicitly--on the future of foreign aid. . . . It provides a balanced and much-needed assessment of the environmental effect that private capital flows--notably foreign direct investment--can exercise on the state of the environment in the developing world.' -- Cord Jakobeit, Stanford-in-Berlin Centre, GermanyTable of ContentsContents: 1. Overview – Private Capital Flows and the Environment Part I: Flows 2. Taxonomy – Foreign Private Investment in Emerging Markets 3. Experience – Private Capital Flows to Four Latin American Countries Part II: Environmental Aspects of Foreign Direct Investment 4. Agriculture – Cases from Brazil and Costa Rica 5. Manufacturing – Cases from Mexico and Costa Rica 6. Privatization – Argentina and Mexico 7. Public–Private Partnerships – Costa Rica and Mexico Part III: Ways Forward 8. Lessons – The Environmental Content of Private Capital Flows 9. Policy Implications – Leverage Points and Changing Roles 10. Opportunities – Increasing the Environmental Content of Private Capital Flows 11. Further Work – Steps on the Path to Sustainable Development Bibliography

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Book SynopsisWith selected readings ranging from the mercantilists of the 16th and 17th centuries to contemporary 20th century authors, Free Trade versus Protectionism addresses one of the oldest controversies in economic science - the fundamental opposition of these two doctrines. It is the first book ever to trace this debate over more than three centuries.Overbeek presents arguments advanced by advocates of free trade and protectionism alike, creating a useful tool for scrutinizing the standpoints of both schools. The book consists of seven parts, beginning with mercantilism and its critics. Subsequent sections examine the free traders and protectionists of the nineteenth century, the evolution of the debate between 1900 and 1940, and the discussion of free trade versus protectionism during the latter half of the twentieth century. At the beginning of each section, the editor's survey of the period under review places the material in proper context; the selections themselves are then preceded by the editor's introduction, which contains a brief biography of the author and an explanation of the author's views.Free Trade versus Protectionism will prove a useful source book for professors and students of the history of economic thought, international economics, international politics, and international business.Trade Review'The book under review provides a splendid sense of history about the debate between protectionists and free traders. . . . Overbeek quotes Goethe (viii) who wrote that "without a knowledge of history, we must retain content to remain in obscurity". It is for this reason that I strongly recommend this book, not only to students, but also to all those who want to be armed against the arguments of opportunistic politicians, rent-seeking interest groups and single issue promoters who have only contempt for liberty and prosperity.' -- Wolfgang Kasper, PolicyTable of ContentsContents: Preface 1. Mercantilism and its Critics 2. Classical Liberalism and Free Trade in the Late Eighteenth and Nineteenth Century 3. Protectionism in the Nineteenth Century 4. The Decline of Economic Liberalism and the Idea of Free Trade during the 1990–1940 Period 5. Protectionist Arguments during the 1900–1940 Period 6. The Economics of Free Trade during the Second Half of the Twentieth Century 7. Protectionist Opinions and the Idea of Managed Trade after 1945 Conclusion Index

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Book SynopsisChristopher Nobes is a world renowned scholar in the field of international accounting. This important book presents a carefully edited selection of his work - written over a period of 20 years - on comparative international financial reporting. It will improve access to an important body of literature published over a wide range of journals and will be an essential source for both academics and students alike.The book features discussions on: the international origins of bookkeeping classification of accounting systems differences in international accounting systems and their effects European harmonization IASC harmonization International Accounting and Comparative Financial Reporting will be welcomed by academics and senior students interested in both national and international accounting.Table of ContentsContents: Preface Introduction Part I: International Origins of Double-entry Bookkeeping Part II: Causes of International Differences and Classification of Systems Part III: International Differences and their Effects Part IV: European Harmonization Part V: IASC Harmonization Index

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Book SynopsisThe revolution in information communication technologies has had a profound effect on the way firms structure and control their operations. At the same time, the ongoing integration of the global economy has greatly expanded international business opportunities. Information Technology in Multinational Enterprises analyses the implications of technological developments for the conduct of international business and the structure and activities of multinational enterprises. Using a combination of theoretical analysis and case studies, it provides a timely introduction to a topic that is of major interest to academics and practitioners in the fields of international business and information science.Trade Review'The book is clearly positioned in the intersecting set of research on international business and information systems, respectively. . . . Collectively, the authors both take stock of what we know and indicate future patterns of development. . . . The various contributions in Information Technology in Multinational Enterprises provides practitioner and academic alike with a good launch pad for thinking in new, non-technical ways.' -- From the foreword by Peter Hagstrom, Stockholm School of Economics, SwedenTable of ContentsContents: Foreword by Peter Hagstrom Introduction Part I: Theoretical Aspects 1. The Role of Information Technology in International Business Research 2. Information Technology and the Multinational Enterprise 3. Information Technology and Global Competitive Advantage 4. Geography, Technology and Organization of Economic Activity Part II: Strategic Aspects 5. Strategic Management of Information Technology in MNEs 6. Growth, IT and Global Organizations 7. The Role of IT in Building Core Competencies in MNEs 8. Development and Management of Global Information Systems 9. A Framework for Strategic Planning for Communications Support 10. Emerging Global Issues in IT – A Perspective from U.S. Corporations References Index

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Book SynopsisGlobalization is a largely ungoverned process of deepening integration, in which American firms are the most active agents of structural change. There are general benefits, in terms of growth and employment, but there are also costs which can generate pressures for protection of the US home market. The book discusses that prospect while reviewing the expansion of interdependencies between the USA and the rest of the world.The authors address questions in current business and policy literature regarding the structural linkages evolving in the globalization process. The authors conclude that the US administration and American firms have to be more responsive to the interests of the international community that are being vitally affected by the integrating effects of transnational production and world trade.Globalizing America will be important reading for international business and international political economy scholars, and for planners in multinational firms.Table of ContentsContents: Introduction 1. Internationalization and Globalization of the American Economy 2. Deepening Integration and Global Governance: America as a Globalized Partner 3. The USA in the World Trading System 4. A Public Choice Perspective on the Globalizing of America 5. The Globalization of US Industries 6. Technology in the Globalization of the USA 7. The United States and Global Capital Markets 8. American Corporate Planning and International Economic Disputes 9. American Macromanagement Issues and Policy 10. Regional Trade Agreements 11. Structural Statecraft 12. Collective Management Issues in US Foreign Economic Relations Index

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Book SynopsisThe economic performance of many countries has deteriorated significantly during the last decade. The 1990s witnessed a global recession, the Mexican currency crisis and later, the Asian and Russian crises. The objective of full employment and price stability appears to be an illusory goal for many of the economies of the emerging global market system. This book offers new policy prescriptions from the post Keynesian perspective to achieve full employment without inflation. Paul Davidson and Jan Kregel - both world renowned economists - have selected papers that rigorously examine real world issues including: the challenge of attaining external balance with internal growth and employment speculation and volatile financial markets in the quest to achieve full employment without inflation the role of money in combating unemployment the role of institutions in stabilizing economies the advantages and disadvantages of the Euro and its implications in the world economy Keynes's plan to reform the international payments system in the post war era The book will be welcomed by economists, especially those interested in international economics, by politicians, policymakers and by all those concerned with global employment and inflation issues.Table of ContentsContents: Preface 1. Keynes’s ‘New Order’ 2. Economic Integration, the EMU and European Regional Growth 3. Prospects for the Single European Currency and Some Proposals for a New Maastricht 4. External Balances, Internal Growth and Employment 5. Thoughts on Speculation and Open Markets 6. Financial Market Behavior 7. On Banks’ Liquidity Preference 8. Financial Globalization and Housing Policy 9. A General Framework for the Analysis of Currencies and Commodities 10. Price Stability and Full Employment as Complements in a New Europe 11. Competition and Employment 12. Another Look at Wage and Price Flexibility as the Solution to Unemployment 13. Employment Policies in an Open Semi-industrialized Economy 14. Thwarting Systems and Institutional Dynamics Index

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Book SynopsisThis book traces the evolution of the highly integrated global financial system from 1750 to the present. It examines the corporate form of business organization in the eighteenth century that saw an explosion of growth in the nineteenth, which facilitated the international movement of capital. The author also deals with the parallel growth of financial markets and explains how the need to finance public debts paved the way for stock markets as well as outlining the role of private merchant bankers, who originated as international bankers with family-run offices across Europe. He charts the development of banks into public corporations and follows the evolution of modern paper money, explaining the emergence of institutions such as the International Monetary Fund and the World Bank. While tracing the development of foreign-exchange markets and the history of trading blocs, the book also examines how economic powers such as Britain and France used access to capital to wield power in less-developed parts of the world. Finally, an history of financial crises is presented, revealing how economic shocks reverberate from one country to another today through the global financial network.Trade Review'This is an enjoyable, easy-to-read book and Allen effortlessly weaves a pattern from the multiple strands that have made the global economy an excellent general economic history and makes fascinating reading.' - The Irish Times

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Book SynopsisCommunism has collapsed. Capitalism has rid itself of the competition on which it thrives. But though now victorious, capitalism has become a threat. The future of us all may be shaped by the outcome of the conflict between capitalism as victor and capitalism as threat. Not only in Europe, but also in the US and Japan - and no doubt shortly in the Eastern countries too - the great debate is capitalism versus capitalism. On the one hand is the "neo-American" model based on individual achievement and short-term profits. On the other is the Rhine model practices in Switzerland, Germany, Benelux, Northern Europe and, partly, in Japan. In the Rhine model collective achievement and public concensus are seen as the keys to long-term success. The first is more seductive, the second more effective. These two opposing forms of capitalism are engaged in a war which, like all internal conflicts, involves both secrecy and even hypocrisy. The outcome of this struggle could affect the quality of life on all levels of society. The author of this book aims to provide a synthesis which will force the reader to consider the political and economic issues at stake towards the end of the century.

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Book SynopsisIn the past fifty years, two factors have led to global population aging: a decline in fertility to levels close to —or even below —replacement and a decline in mortality that has increased world average life expectancy by nearly 67 percent. As the population skews toward fewer young people and more elderly who live longer postretirement lives, demographic changes —labor force participation, savings, economic growth, living arrangements, marriage markets, and social policy —are transforming society in fundamental, irreversible ways. Nowhere are these effects of aging and demographic change more acute —nor their long-term effects more potentially significant —than in the Asia-Pacific region. How will these developments impact the economies and social protection systems of Japan, South Korea, China, and, by extension, the United States? To assess this question, Aging Asia showcases cutting-edge, policy-relevant research. The first section focuses on demographic trends and their economic implications; the second section approaches select topics from a global comparative perspective, including social insurance financing, medical costs, and long-term care.

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Book SynopsisThe World Bank is assailed by critics on the left, right and center on the grounds it is not effective, not accountable, not democratic or legitimate, and most threatening of all, not relevant in a global economy where private capital, production, and ideas dominate. Yet the world needs a strong World Bank working with other international institutions to manage development and the related global challenges of the 21st century. Are the Bank's shortcomings exaggerated or potentially fatal? If potentially fatal, can this critical institution be rescued? Rescuing the World Bank explores the answers to these questions. The first part of the book, The Hardest Job in the World: Five Crucial Tasks for the New President of the World Bank, is a report by a Center for Global Development (CGD) Working Group delivered to Paul Wolfowitz on his first day in the office in June 2005. The second part comprises selected essays, many first presented at a CGD Symposium in the fall of 2005. The Working Group members and essay authors represent a rich array of experience and views. CGD president Nancy Birdsall was co-chair of the Working Group and selected and edited the essays. Her view that the Bank is a crucial global institution but potentially at risk is widely —but not universally —shared by the Working Group members and the essay authors. The provocative volume will be widely read and discussed by those who are actively grappling with how to strengthen the World Bank, by its many stakeholders, and by readers with a broad interest in development seeking a better understanding of this vital and complex institution as it struggles to adapt to the demands of the 21st century.

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Book SynopsisThe challenges related to disaster risk management (DRM) in the agricultural sector are now widely linked to sustainable environment. The fact remains that almost every day a disaster strikes in some part of the world. The regular occurrence of natural and man-made disasters has forced the worldwide communities to look for novel solutions to prevent and mitigate such disasters.This volume brings together probing studies to disseminate the work of outstanding scholars and practitioners, especially in South Asian countries. Thus, it highlights the need to amalgamate and coordinate the resources and agencies involved in DRM in agriculture to ensure the quality of life to the victims after disasters. The authors incorporate specific themes correlated with DRM in South Asia. They intend to assess: (i) the consequences of distinct disaster risks in agriculture, (ii) the ways in which diverse disaster risk problems are handled in distinct settings, and (iii) the different methodologies embraced by different sectors to prepare for disaster risk.

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Book SynopsisCentral banks do not print growth. The financial crisis was much more than the result of an excess of risk. The same policies that created each subsequent bust are the ones that have been implemented in recent years. This book is about realistic solutions for the threat of zero-interest rates and excessive liquidity.The United States needs to take the first step, defending sound money and a balanced budget, recovering the middle-class by focusing on increasing disposable income. The rest will follow. Our future should not be low growth and high debt. Cheap money becomes very expensive in the long run. There is an escape from the central bank trap.

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Book SynopsisDeveloping global business strategies in today’s competitive and disruptive environment calls for greater interaction between the business sector and government. Among the instruments available today are various market analytic tools. These tools coupled with new business models not only provide a competitive edge but also becomes a necessity to survive in the global ever changing trade environment.This book concerns everyone dealing with market selection, market strategies, and trade policy. The reader will be able to develop global strategies based on trade information and trade flows analysis. An analysis of the most competitive countries in world trade shows the importance of pro-business policies, access to modern infrastructures, investment in research, and increased productivity. The authors explain how to design practical strategies in a global context, greater competition and uncertainty due to the introduction of new business models.

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Book SynopsisThis series is intended to serve as an introduction to the Indian Economy from the Post Reform of 1991. The author makes an endeavor to present how India’s economic fortunes dwindled over the centuries. This first volume begins with an analysis of the history, evolution, and growth of the Indian economy through several periods along with their positive and negative aspects.The author attempts to bring fairly interesting snapshots to highlight how the Indian economy has evolved over the years. The book provides history; traces the evolution of the economy during the early Muslim period and the Mughal Empire as well as during the British regime (1761 to 1947); and analyzes the impact of the British regime and the growth of the economy between 1947 and 1990. Points of analysis include policy framework—state and market; NITI Aayog—a think tank; the Indian polity—fiscal federalism; democracy and development; the economic policy regime prior to 1991; and economic reforms. The penultimate chapter looks at the future direction and task ahead of the economy. Finally, Indian economic thought is analyzed. There is plenty to discuss!

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Book SynopsisThe furniture industry serves as an indicator for the changing state of American manufacturing. A brief history of U.S. furniture manufacturing creates the context for continuing geographic shifts among Asian locations, foreign ownership impacts and global market considerations, as well as the demands of three significant domestic market demographics.The furniture industry is separated into its various parts from wood to metal, home to institutional markets. Government actions including tariffs, health, and environmental regulations are also considered. Based on numerous interviews and site visits, strategies of corporate survivors in the face of mergers, and emergence of new players are profiled to indicate practices for increasing adaptive capacity and marketing the appeal of “made here”.This book highlights the role of global networks, lean and green production methods, customized quality versus price competitiveness, online outreach along with showroom access, labor issues, and related factors that continue to compel location shifts and extensions.

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