Political economy Books

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

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Book SynopsisMacroeconomic analysis has undergone profound and controversial changes during the past twenty-five years and, as such, economists have developed and evolved their approaches to the discipline. Reflections on the Development of Modern Macroeconomics presents a collection of eight original essays, from leading scholars, each of which focuses on an important issue relating to these developments.These accessible, reflective surveys include: to stabilize or not to stabilize: is that the question? Brian Snowdon and Howard Vane the rhetoric and methodology of modern macroeconomics Roger Backhouse how relevant is Keynesian economics today? Keith Shaw what remains of the monetarist counter-revolution? Thomas Mayer macroeconomics: before and after rational expectations Patrick Minford the ups and downs of modern business cycle theory Cillian Ryan and Andrew Mullineux the role of imperfect competition in new Keynesian economics Huw Dixon politics and the macroeconomy: endogenous politicians and aggregate instability Brian Snowdon and Howard Vane This book will attract a wide readership among intermediate undergraduates, as well as postgraduates and lecturers in the fields of macroeconomics and the history of economic thought.Trade Review'An eclectic, insightful collection on the development of modern macroeconomics.' -- David C. Colander, Middlebury College, US'This is a superb book providing a comprehensive, authoritative and lucid coverage of today's macroeconomic debates. It is a welcome addition for both students and their teachers.'– Peter M. Jackson, University of Leicester, UKTable of ContentsContents: Preface 1. To Stabilize or not to Stabilize: Is that the Question? (B. Snowdon, H.R. Vane) 2. The Rhetoric and Methodology of Modern Macroeconomics (R.E. Backhouse) 3. How Relevant is Keynesian Economics Today? (G.K. Shaw) 4. What Remains of the Monetarist Counter-Revolution? (T. Mayer) 5. Macroeconomics: Before and After Rational Expectations (P. Minford) 6. The Ups and Downs of Modern Business Cycle Theory (C. Ryan, A.W. Mullineux) 7. The Role of Imperfect Competition in New Keynesian Economics (H.D. Dixon) 8. Politics and the Macroeconomy: Endogenous Politicians and Aggregate Instability (B. Snowdon, H.R. Vane)

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Book SynopsisThe Environment in WORLD POLITICS explores the interaction of humanity with the physical environment from a systems perspective.The whole is taken to be made up of five sub-systems. The first two are international supply of and demand for goods and services with flows governed by market principles. Classically such a two-component self-stable system could be considered closed, in that two-way interaction with what lay outside was almost zero. However, the effects of economic activity on the physical environment can no longer be ignored and a third sub-system setting norms for acceptable discharges into the environment is plainly necessary. At the same time, the significance of economic activity representing exploitation of commons resources (and hence not obviously governable by market principles) has itself continued to increase. Commons sources are the fourth sub-system and the arrangements for monitoring resource-flows from such sources the fifth sub-system.The focus of the book is on sustainable development. This is taken to mean a stable relationship between the sub-systems, with the norms governing the flows between the sub-systems set and maintained at a desirable level. This approach is found naturally to accommodate the exploration of practical concerns including global warming, protection of the ozone layer, and the exploitation of nuclear power. It also provides a stimulating setting for the examination of INTER ALIA, the precautionary principle, the contentious role of science in the setting of environmental norms, and the population question.This book will be essential reading for social science undergraduates and postgraduate students of international relations, politics and international environmental politics.Trade Review'This book presents a thoughtful, comprehensive and closely-argued case. . .'Table of ContentsContents: Preface 1. Introduction 2. Systems, Science and Norms 3. Nuclear Origins, Nuclear Spread 4. Nuclear Power and the Environment 5. International Collective Action 6. Living Resources 7. The Stratosphere and Lower Atmosphere 8. Global Warming 9. Population 10. Conclusion Index

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

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Book SynopsisIn Government Versus the Market, Roger Middleton provides a comprehensive, interdisciplinary and controversial analysis of how Britain's relative economic decline from the late nineteenth century onwards generated an intense debate about the legitimate roles of government and the market. After a thorough analysis of Britain's long-run economic performance in a comparative context, which emphasizes how the problem of decline is frequently misunderstood, and an account of the long-run forces promoting and constraining government growth, he then charts how the economic role of government evolved in response to decline but produced a mix of macroeconomic and microeconomic policies which proved inadequate for the task. This major study emphasizes the institutional and political constraints to economic modernization and uses the specific characteristics of Britain's predicament, a combination of market failure and impotent state, to explain why by 1979 the burgeoning New Right were able to launch an attack upon big government. Dr Middleton then demonstrates how Britain's subsequent economic performance, while brilliantly propagandized as an economic renaissance, has in fact been lacklustre and why the Conservatives' economic strategy failed to address the underlying problems of decline and to reduce the size of the public sector. Government versus the Market brings an unrivalled historical, empirical and theoretical breadth to our understanding of the last century of British economic history as well as a wealth of material on economic performance and public sector growth, and the fullest bibliography yet published on Britain's economic decline.Comprehensive, authoritative and wide-ranging, this extensive study uses a long-term and comparative framework which draws upon the latest research of economists, historians and political scientists to show why successive governments have been unable to halt Britain's relative economic decline. Trade Review'Middleton provides a systematic set of historical and internationally comparative perspectives which will make his book a rich quarry for all teachers and students in the field. . . Middleton's text is most likely to outstay other contenders in his field.' -- Eric Richards, Australian Economic History Review'This is a comprehensive, interdisciplinary and controversial analysis of how Britain's relative economic decline from the late 19th century onwards generated an intense debate about the legitimate roles of government and the market. . . . There is a wealth of material on economic performance and public-sector growth, and a very complete bibliography on Britain's economic decline.' -- International Review of Administrative Science'. . . a highly worthwhile contribution to the literature. Its sheer breadth of carefully employed source material makes it a valuable resource. Middleton has provided a text of interest to the advanced undergraduate and researcher alike, and against the sheer reach of his analysis over such volume he should be praised.' -- Paul Reynolds, Capital & Class'This is an unusual and innovative book . . . a great source of ideas for teaching and research, and Middleton is to be congratulated on his heroic exercise.' -- R. Millward, Economic History Review'. . . this is a most impressive book, providing a mass of information and argument, synthesising huge amounts of material in an accessible way. In short, this is a major contribution to twentieth century British economic history.' -- Jim Tomlinson, Contemporary British History'It is indeed an overwhelming book, bringing together a mass of material and organizing it into a coherent account of economic development and public policy.' -- Keith Tribe, The Manchester SchoolTable of ContentsContents: Preface Part I: Introduction 1. Introduction 2. Government and Market: A Historical and Theoretical Survey 3. The Growth of the Public Sector: An Overview Part II: The Distintegration of the Old Synthesis, 1890–1914 4. The Performance of the Late-Victorian and Edwardian Economy 5. The Growth of Government: The Challenge to laissez-faire 6. Government, ‘National Efficiency’ and the Economy, 1890–1914 Part III: Creeping Collectivism, 1914–1939 7. The Performance of the Interwar Economy 8. War, Mass Unemployment and the Growth of Government between the Wars 9. The Origins of Modern Economic Management: Macroeconomic Potential and Microeconomic Failure Part IV: The Rise and Fall of Keynesian Social Democracy 1939-1979 10. The Performance of the Postwar Economy to 1979 11. The Consolidation of Big Government: The Market Eclipsed and the Growth of the Public Sector 1939–79 12. Postwar Economic Management and Policy Impact to 1979 Part V: Conclusions 13. Conclusions Notes Bibliography Indexes

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Book SynopsisThe economic demands of an ageing population, coupled with the crisis of public spending pose one of the greatest challenges to social policy in both the East and West. This book focuses on the political economy of pensions, particularly on the interaction between private and state provision. Enterprise and the Welfare State argues that there is more to welfare than simply provision by the state and so the focus of this book is on the welfare society rather than the welfare state. This requires a new system of statistical accounting and a different focus for case studies. A multidisciplinary approach is used to examine the design of the pensions system in nine countries with different institutional welfare mixes. Using a common conceptual framework, it compares and contrasts the goals and realities of the welfare systems in France, Germany, The Netherlands and Sweden, where strong occupational pensions are in operation, with the more modest welfare states in Japan, the United Kingdom and the United States. Each country case study provides a grounded analysis of the evolution of pension design and traces the impact of the policies on the economic well-being of the aged and the performance of the economy. It offers new data on the level of spending of enterprise based occupational pensions and examines the implications for redistribution resulting from changes in the design of state and occupational pensions. This book will be essential reading for academics, students and public policymakers interested in the economics of welfare, social policy and the future of pension provision.Trade Review'. . . anyone who wants to be an expert in this field should read this book. There is nothing to be criticized in either the research or the presentation by the authors. Indeed, the chapters are well written. . . . Altogether I can enthusiastically recommend this book for people in this field. It is well written, comprehensive, and the result of much work.'Table of ContentsContents: Preface 1. The Emerging Role of Enterprise in Social Policy (M. Rein and E. Wadensjö) 2. The Austrian Pension System (P. Rosner, T. Url and A. Wörgötter) 3. France: A National and Contractual Second Tier (E. Reynaud) 4. The Public-Private Mix in Pension Provision in Germany: The Role of Employer-based Pension Arrangements and the Influence of Public Activities (W. Schmähl) 5. The Retirement Provision Mix in Italy: The Dominant Role of the Public System (R. Di Biase, A. Gandiglio, M. Cozzolino and G. Proto) 6. The Role of the Japanese Company in Compensating Income Loss after Retirement (Y. Kimura) 7. The Netherlands: Growing Importance of Private Sector Arrangements (M. Blomsa and R. Jansweijer) 8. The Welfare Mix in Pension Provisions in Sweden (E. Wadensjö) 9. The British Case (T. Lynes) 10. Enterprise and the State: Interactions in the Provision of Employees’ Retirement Income in the United States (L. apRoberts and J. Turner) Index

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Book SynopsisHow does innovation emerge from normal economic activity? Economic Interdependence and Innovative Activity is an original new book which tries to answer this question by reconciling inter-industrial analysis with the study of innovation. This book provides a bridge between economic statics and the dynamics of growth and development. As well as offering important and original empirical data for Canada, France, Italy, Greece and China, the authors make a series of theoretical advances and propose a new way to observe the innovative process as well as new analytical tools to examine innovative activity. Their central thesis is that innovative outputs emerge out of increased social interaction, and division of labour through cooperative networks. An authoritative theoretical introduction and some thought-provoking conclusions have been prepared by Christian DeBresson.Economic Interdependence and Innovative Activity encourage input-output economists to encompass innovative activities in dynamic models and innovation researchers to look at technical interdependencies.Trade Review'DeBresson's book gives a new and inspiring life to input-output analysis by aiming at building a bridge to dynamic analysis of innovations by the use of detailed empirical data. . . . the book clearly illustrates the need for and value of further empirically based information on this topic.'Table of ContentsContents: Introduction Part I: Concepts, Methods of Observation, and Analysis Part II: New Dimensions of Interdependence: Innovative Activities and Types of Innovative Organizations Part III: The Location of Innovative Clusters in National Economies Part IV: Regional Location of Innovation Activities Part V: Do Economic Linkages Matter For Innovative Activity? Part VI: Issues, Problems and Perspectives References Indexes

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Book SynopsisGrowth and Economic Development shows how the different theories of growth - from the classical to the endogenous growth and Schumpeterian theories - can be brought together to develop a satisfactory explanation of the varying rates of growth between countries.A concise survey of the many theories of growth and development, which provides a context for understanding how different models can co-exist, is followed by an exploration of how Solow's growth models assess the effects of technological progress. The author then enlarges Schumpeter's theory of economic development by using the theory of natural evolution and selection. Professor Lombardini uses a simple model to show how innovation can account for growth and an evolutionary model to determine conditions in which selection can produce growth. Both these models deal with the economy as a whole. In addition, a new method - computational economics - is used to develop useful generalizations about the roles of different factors for development.Trade Review'The collection of imaginative essays reviewed here by the doyen of Italian academic economics, Siro Lombardini, is an 'interesting and socially valuable journey' by a supreme economic theorist, who is also a master of the history of economic thought. I cannot easily think of any other economist who can wear the Schumpeterian mantle without the slightest discomfort and, indeed, make its glow light novel paths along the evolutionary journey that the pioneers of our subject initiated and the frontiers seem to be encapsulating. . . . this book is one of the finest primers, at any level, on what, for want of a better phrase, I shall call Schumpeterian dynamic economics. Together with the modern classic by Nelson and Winter, this book could easily provide the basic reading material for an innovative graduate or advanced undergraduate course on growth and development from an evolutionary and computational perspective.' -- K. Vela Velupillai, The Journal of Economic Dynamics and ControlTable of ContentsContents: Foreword Part I: Theories and Models of Growth Part II: The Agents Part III: Models of Endogenous Growth (with E. Canuto) Part IV: Human-Capital and Technological Accumulation (with E. Canuto) Part V: A Schumpeterian Path of Economic Development (with F. Donati) Part VI: Selection, Innovation and Economic Development: Computational Economic Analysis (with F. Donati) Part VII: Concluding Remarks References Indexes

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Book SynopsisBringing together different perspectives on structural adjustment and the prospect for sustainable economic growth in Eastern Europe, Economics of Transition represents a shift in scholarly emphasis away from issues of stabilization and liberalization in favour of longer-term considerations. This major volume features a distinguished collection of papers focusing on the theoretical and policy implications of transition and change in Eastern Europe. Drawing on work from a wide range of traditions, it explores how effective demand induces growth, how diffusion takes place, how economic policy influences incentives, motivations and behaviours, how institutions influence organization and technological capability building, and how institutions both constrain and guide economic policy.Economics of Transition is the first of a major new series published by Edward Elgar for The Vienna Institute for Comparative Economic Studies. The intention of this new series is to encourage discussion on the economic theory and policy of transition and European economic integration.Trade Review'. . . this volume makes an important contribution to the literature on economic transition by presenting a persuasive, well-supported criticism of conventional transition policy, as well as a number of explicit policy alternatives.' -- Hannah E. Kettler, Eastern Economic Journal' . . . this book is a useful addition to the literature on economic transition and marks a turn from short run economic policy advice towards theoretical understanding.'– Jens Holscher, The Economic JournalTable of ContentsContents: Introduction 1. Structural Adjustments and Growth: Is Eastern Europe Catching Up? (M. Knell) 2. Stabilization and Prospects for Sustainable Growth in the Transition Economies (P. Havlik) 3. Economics of Transition: Some Gaps and Illusions (A. Nove) 4. Macroeconomic Collapse During Systemic Change (J.B. Rosser, Jr. and M.V. Rosser) 5. An Alternative Economic Policy for Central and Eastern Europe (K. Laski) 6. Patterns of Economic Transition and Structural Adjustments (A. Bhaduri) 7. Balance-of-Payments Constrained Growth in Central and Eastern Europe (M. Landesmann and J. Pöschl) 8. Growth Consequences of Systemic Transformation (V. Gligorov and N. Sundström) 9. Prospects of Building Science andTechnology Capabilities in Central and Eastern Europe’ (S. Radosevic) 10. Closing the Institutional Hiatus in Economies in Transition: Beyond the ‘State versus Market’ Debate (R. Kozul-Wright and P. Rayment) Index

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Book SynopsisIn Economic Policy in a Liberal Democracy, Richard E. Wagner offers an approach to welfare economics and economic policy appropriate for a classically liberal society.Professor Wagner explains how welfare economics has been unable to fulfil the aspirations of its advocates because it assumes that the consequences of policy measures are sufficiently knowable to achieve specific and intended outcomes. The standard vision of the corrective state, where the state intervenes to repair economic failures and to achieve beneficial consequences, is revealed to be incoherent because the state lacks the competence to influence economic outcomes. Once the full complexity of the economy is recognized, policy measures are shown to generate a plethora of unintended consequences. What emerges instead is a focus on policy for creating and maintaining a constitutional framework that maintains and supports the liberal order in which people organise their activities.Table of ContentsContents: Preface 1. Intelligence, Fate, and Good Government 2. Welfare Economics, Market Failure, and the Corrective State 3. Divided Knowledge and Limited State Competence 4. Interest Groups and Biased Incentives 5. Form, Substance, and Misfocussed Analytics 6. Law and Legislation: Substitutes or Complements? 7. Fallacy of the Mixed Economy 8. Economic Policy for a Constitution of Liberty Reference Index

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Book SynopsisThis book focuses not only on economic and political transformation since the demise of communism in Eastern and Central Europe, but also on the relationships between economic organization, social patterns and institutional change. The changes in political structure and policies of economic reform have in turn resulted in changes in social institutions and patterns of social relations. The authors look at social relations under the old regimes to understand the current social transformation. They consider economic restructuring both in the context of social change and in terms of its consequences for society, using case studies from the Czech Republic, Hungary and Poland. The impact of economic changes on new forms of institutional arrangements, social patterns and organization are also discussed taking into account privatization, employment, social welfare, property and industrial relations. This new book will be welcomed by economists, political scientists and sociologists working in the area of transition.Trade Review'This book is a thorough and insightful account of changes in social institutions and patterns of social relations resulting from political restructuring and economic reforms. This book is a valuable empirical addition to the historical-institutionalist perspective in analyzing post-communist transformation. I recommend it to academic scholars and students in economics, political science, sociology, and organizational behavior, as well as to others working in the area of post-communist transition and transformation. Furthermore, specialists on recent worldwide changes in industrial relations would be interested in Cox and Mason's through account of institutional change and adaptation.' -- Elena Iankova, Industrial and Labor Relations Review 'The book can be recommended to students as a complementary text which would lead them to think in a disciplined theoretical manner about the transition.'– Ludek Rychetnik, Europe-Asia StudiesTable of ContentsContents: Preface 1. Introduction 2. The State-Managed Economy and Social Relations under the Old Regimes 3. Three Paths of Development of the State-Managed Economy 4. Paths of Extrication 5. The Contested Politics of Property Relations 6. Transformation and Institutional Change 7. Inequality, Poverty and Unemployment 8. Towards a New System of Industrial Relations 9. Property Ownership and Enterprise Participation 10. Problems and Prospects Bibliography Index

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Book SynopsisTechnology and innovation are fundamental to economic success and the struggle for markets in an increasingly competitive world. This book draws together the latest research in the fields of technology, innovation and competitiveness from some of the world's leading academics.International in its approach, this book considers a wide range of topics including the globalization of research and technology and the effect of this on the product cycle, financial domination in the global economy and its consequences for structural competitiveness. It also examines the impact of the pooling of technology and science in Europe on the environment for new entrepreneurial initiatives. Special emphasis is placed on the policy implications of recent developments in technology, industry and the economy. Technology, Innovation and Competitiveness will be of interest to policy analysts as well as academics and students of economics, management and business studies.Trade Review'As with most edited volumes emerging from conferences and workshops, this one bears obvious traces of heroic editorial efforts to secure a decent level of consistency and coherence across a set of papers which differ in approach and style. In this case, however, these efforts have been reasonably successful and the outcome is largely enjoyable reading.'Table of ContentsContents: Foreword (J.S. Metcalfe) Part I: Globalization in Context Part II: The Globalization of Technological Activity Part III: Innovation and Competitive Advantage Index

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Book SynopsisThe Economic Theory of Socialism and the Labour-Managed Firm focuses on market socialism and the relevant debate among economic theorists. It argues that market socialism is the only rational form of socialism and that market socialism with labour-managed firms is by far the best form of market socialism. The book begins with a critical review of the contributions to the economic theory of socialism. The second part discusses the economic theory of labour-managed firms and pays particular attention to the adverse labour-supply curve, underinvestment, monitoring and the separation of ownership and control. The final chapters discuss problems such as the control of economic activity in labour-managed firms, worker motivation and incentives.This book will be of particular use to students and academics interested in comparative economic systems and to specialists in politics and sociology with an interest in alternative forms of economic organization.Trade Review'As a summary, extension and exposition of the calculation debate and the (neoclassical) theory of the labor-managed firm, Jossa and Cuomo's book is very useful and should probably be in the library of any scholar interested in the topic.'Table of ContentsContents: Introduction: Labour Management and Socialism 1. Economic Calculation in Socialism: Early Contributions 2. Socialism and Market: Lange’s Contribution and Marxist Theory 3. Liberalist Criticisms of the Lange Model 4. Socialism with Autonomous Firms 5. On the Taxonomy of Economic Systems 6. Market Socialism and Income Distribution 7. An Introduction to the Theory of the Labour-managed Firm 8. Equilibrium of the Self-managed Firm 9. Criticism of Ward’s Model 10. Self-managed Firms and Underinvestment 11. Property Rights and the Financing of the Cooperative Firm 12. Neo-institutionalism and the Cooperative Firm 13. Self-managment and the Social Foundation of Character 14. Conclusion Index

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Book SynopsisThis major six-volume set reproduces the most important journal material concerning the many aspects of political economy in the Middle East. By subject, the editors concentrate on the vital issues affecting this continually developing area of the world.This collection opens up a new source of essential material to both the student and academic specializing in Middle Eastern studies. The editors have prepared individual introductions for each title in addition to a general series preface for the series.Volume I:Poor capital investment combined with the few details concerning education in the Middle East have resulted in the under-utilisation of human resources. The articles included in this collection focus on the reasons behind this development failure and also how this failure continues to affect the region.20 articles, dating from 1980 to 1995Volume II:This collection features literature on the contemporary international relations of the Middle East in the latter part of the twentieth century. The editors pay particular attention to trade, production, imports and exports, foreign investment, multinational companies in the region and labour migration.18 articles, dating from 1984 to 1997Volume III: In capitalist and socialist societies, economic systems are believed by their adherents to have universal applicability irrespective of the values held by the societies in which they are applied. Islamic economists reject this notion, believing that an economic system should reflect religious values, rather than a society's values being determined by the economic system. The articles included in this volume focus on the development of principles and the system of Islamic economics.23 articles, dating from 1963 to 1995Volume IV:Few countries have been left untouched by either economic or political liberalisation in recent history - indeed, many have been affected by both. These processes have had a substantial effect on the Middle East. Particular emphasis is given to the liberalisation of Turkey, Egypt and Iraq as well as articles featuring other main Middle Eastern states.22 articles, dating from 1981 to 1998Volume V:The articles included in this volume focus on the manner in which the character of the state affects economic policies. Attention is given to themes on the nature of the Middle Eastern State in general, the relationship between state and society, assessments of the administrative structures for economic policies and policy making and assessments of economic policies which are specific to individual state formation and structure.21 articles, dating from 1982 to 1996Volume VI:Oil is probably the most significant industry in the Middle Eastern states. The editors have selected articles which relate not only to the analysis of oil production but also to the range of effects which oil revenues have on the political economy of the Middle East. The editors have intentionally focused on material which follows the social, economic and political effects of oil resources over the past 25 years.19 articles, dating from 1978 to 1996Table of ContentsContents: Volume I: Acknowledgements • Introduction Rodney Wilson 1. Unni Wikan (1985), ‘Living Conditions Among Cairo’s Poor – A View from Below’ 2. Victor Levy (1986), ‘The Distributional Impact of Economic Growth and Decline in Egypt’ 3. Rodney Wilson (1993), ‘Whither the Egyptian Economy?’ 4. Cassandra (1995), ‘The Impending Crisis in Egypt’ 5. Jahangir Amuzegar (1992), ‘The Iranian Economy Before and After the Revolution’ 6. A. Aydin Çeçen, A. Suut Dogruel and Fatma Dogruel (1994), ‘Economic Growth and Structural Change in Turkey 1960-88’ 7. Volker Perthes (1992), ‘The Syrian Economy in the 1980s’ 8. M. Riad El-Ghonemy (1993), ‘Food Security and Rural Development in North Africa’ 9. Alan Richards (1981), ‘Agricultural Mechanization in Egypt: Hopes and Fears’ 10. Stephen Kontos (1990), ‘Farmers and the Failure of Agribusiness in Sudan’ 11. Ziad Keilany (1980), ‘Land Reform in Syria’ 12. M.G. Majd (1992), ‘On the Relationship Between Land Reform and Rural-Urban Migration in Iran, 1966-1976’ 13. E. Mine Cinar (1994), ‘Unskilled Urban Migrant Women and Disguised Employment: Home-Working Women in Istanbul, Turkey’ 14. Gil Feiler (1993), ‘Palestinian Employment Prospects’ 15. Robert Bianchi (1986), ‘The Corporatization of the Egyptian Labor Movement’ 16. Delwin A. Roy and William T. Irelan (1992), ‘Educational Policy and Human Resource Development in Jordan’ 17. Robert E. Looney (1991), ‘Patterns of Human Resource Development in Saudi Arabia’ 18. Günter Meyer (1988), ‘Employment in Small Scale Manufacturing in Cairo: A Socio-Economic Survey’ 19. Donald C. Mead (1982), ‘Small Industries in Egypt: An Exploration of the Economics of Small Furniture Producers’ 20. Delwin A. Roy (1992), ‘The Hidden Economy in Egypt’ Name Index Volume II: Acknowledgements • Introduction Rodney Wilson 1. Rodney Wilson (1994), ‘The Economic Relations of the Middle East: Toward Europe or Within the Region’ 2. Marvin G. Weinbaum (1986), ‘Dependent Development and U.S. Economic Aid to Egypt’ 3. Jahangir Amuzegar (1997), ‘Iran’s Economy and the US Sanctions’ 4. Victor Lavy (1984), ‘The Economic Embargo of Egypt by Arab States: Myth and Reality’ 5. Sami Baroudi (1993), ‘Egyptian Agricultural Exports Since 1973’ 6. Rodney J.A. Wilson (1984), ‘Egypt’s Export Diversification: Benefits and Constraints’ 7. Rodney Wilson (1986), ‘The Developmental Impact of Egypt’s Import Liberalisation’ 8. Halis Akder (1987), ‘Turkey’s Export Expansion in the Middle East, 1980-1985’ 9. Rodney J.A. Wilson (1984), ‘Japan’s Exports to the Middle East: Directional and Commodity Trends and Price Behavior’ 10. Chung In Moon (1986), ‘Korean Contractors in Saudi Arabia: Their Rise and Fall’ 11. Y.H. Farzin (1993), ‘Importance of Foreign Investment for the Long-Run Economic Development of the United Arab Emirates’ 12. Charles R. Kennedy, Jr. (1984), ‘Multinational Corporations and Political Risk in the Persian Gulf’ 13. Ishac Diwan and Lyn Squire (1995), ‘Private Assets and Public Debts: External Finance in a Peaceful Middle East’ 14. Onn Winckler (1997), ‘The Immigration Policy of the Gulf Cooperation Council (GCC) States’ 15. Rainer Hartmann (1995), ‘Yemeni Exodus from Saudi-Arabia: The Gulf Conflict and the Ceasing of the Workers’ Emigration’ 16. Charles B. Keely and Bassam Saket (1984), ‘Jordanian Migrant Workers in the Arab Region: A Case Study of Consequences for Labor Supplying Countries’ 17. Richard H. Adams, Jr. (1993), ‘The Economic and Demographic Determinants of International Migration in Rural Egypt’ 18. Onn Winckler (1997), ‘Syrian Migration to the Arab Oil-Producing Countries’ Name Index Volume III: Acknowledgements • Introduction Rodney Wilson 1. Masudul Alam Choudhury (1983), ‘Principles of Islamic Economics’ 2. M. Siddieq Noorzoy (1982), ‘Islamic Laws on Riba (Interest) and their Economic Implications’ 3. Timur Kuran (1986), ‘The Economic System in Contemporary Islamic Thought: Interpretation and Assessment’ 4. Timur Kuran (1995), ‘Islamic Economics and the Islamic Subeconomy’ 5. M. Umer Chapra (1991), ‘The Need for a New Economic System’ 6. Muhammad Nejatullah Siddiqi (1991), ‘Some Economic Aspects of Mudarabah’ 7. Mohsin S. Khan and Abbas Mirakhor (1992), ‘Islam and the Economic System’ 8. Joseph J. Spengler (1963-64), ‘Economic Thought of Islam: Ibn Khaldûn’ 9. Dieter Weiss (1995), ‘Ibn Khaldun on Economic Transformation’ 10. Seyyed Vali Reza Nasr (1989), ‘Islamic Economics: Novel Perspectives’ 11. Uri M. Kupferschmidt (1987), ‘Reformist and Militant Islam in Urban and Rural Egypt’ 12. Patrick Clawson (1988), ‘Islamic Iran’s Economic Politics and Prospects’ 13. Mehrdad Valibeigi (1993), ‘Islamic Economics and Economic Policy Formation in Post-Revolutionary Iran: A Critique’ 14. Ziauddin Ahmad (1994), ‘Islamic Banking: State of the Art’ 15. A. Reza Hoshmand (1995), ‘Profit and Loss Sharing in Islamic Banking: Alternative Financing for Agriculture in Developed and Developing Countries?’ 16. Clement Henry Moore (1990), ‘Islamic Banks and Competitive Politics in the Arab World and Turkey’ 17. Delwin A. Roy (1991), ‘Islamic Banking’ 18. Alexandria R. Hardie and M. Rabooy (1991), ‘Risk, Piety, and the Islamic Investor’ 19. Ann Elizabeth Mayer (1985), ‘Islamic Banking and Credit Policies in the Sadat Era: The Social Origins of Islamic Banking in Egypt’ 20. Hamid Hosseini (1988), ‘Islamic Economics in Iran and Other Muslim Countries: Is a New Economic Paradigm in the Making?’ 21. Mohsin S. Khan and Abbas Mirakhor (1990), ‘Islamic Banking: Experiences in the Islamic Republic of Iran and in Pakistan’ 22. Rodney Wilson (1987), ‘Islamic Banking in Jordan’ 23. Rodney Wilson (1989), ‘The Islamic Development Bank’s Role as an Aid Agency for Moslem Countries’ Name Index Volume IV: Acknowledgements • Introduction Tim Niblock 1. Tosun Aricanli and Dani Rodrik (1990), ‘An Overview of Turkey’s Experience with Economic Liberalization and Structural Adjustment’ 2. Kiren Aziz Chaudhry (1991), ‘On the Way to Market: Economic Liberalization and Iraq’s Invasion of Kuwait’ 3. Mark N. Cooper (1983), ‘State Capitalism, Class Structure, and Social Transformation in the Third World: The Case of Egypt’ 4. Fred Gottheil (1981), ‘Iraqi and Syrian Socialism: An Economic Appraisal’ 5. Raymond A. Hinnebusch (1995), ‘The Political Economy of Economic Liberalization in Syria’ 6. International Monetary Fund (1991), ‘Tunisia’s Economic Reforms Advance: IMF Approves Fourth Year of Support Under Extended Arrangement’ 7. Tim Niblock (1998), ‘Democratization: A Theoretical and Practical Debate’ 8. Massoud Karshenas and M. Hashem Pesaran (1995), ‘Economic Reform and the Reconstruction of the Iranian Economy’ 9. Victor Lavy and Hillel Rapoport (1992), ‘External Debt and Structural Adjustment: Recent Experience in Turkey’ 10. Fred H. Lawson (1994), ‘Domestic Transformation and Foreign Steadfastness in Contemporary Syria’ 11. Hans Löfgren (1993), ‘Economic Policy in Egypt: A Breakdown in Reform Resistance?’ 12. Robert E. Looney (1990), ‘Structural and Economic Change in the Arab Gulf After 1973’ 13. Meltem Müftüler (1995), ‘Turkish Economic Liberalization and European Integration’ 14. Emma Murphy (1994), ‘Structural Inhibitions to Economic Liberalization in Israel’ 15. Ziya Önis (1991), ‘The Evolution of Privatization in Turkey: The Institutional Context of Public-Enterprise Reform’ 16. Alan Richards (1993), ‘Economic Imperatives and Political Systems’ 17. Alan Richards (1991), ‘The Political Economy of Dilatory Reform: Egypt in the 1980s’ 18. Robert Springborg (1990), ‘Agrarian Bourgeoisie, Semiproletarians and the Egyptian State: Lessons for Liberalization’ 19. Robert Springborg (1986), ‘Infitah, Agrarian Transformation, and Elite Consolidation in Contemporary Iraq’ 20. Paul Stevens (1989), ‘Privatisation in the Middle East and North Africa’ 21. Denis J. Sullivan (1990), ‘The Political Economy of Reform in Egypt’ 22. Dirk Vandewalle (1991), ‘Qadhafi’s “Perestroika”: Economic and Political Liberalization in Libya’ Name Index Volume V: Acknowledgements • Introduction Tim Niblock 1. Abdelrahman Al-Hegelan and Monte Palmer (1985), ‘Bureaucracy and Development in Saudi Arabia’ 2. Lisa Anderson (1991), ‘Political Pacts, Liberalism and Democracy: The Tunisian National Pact of 1988’ 3. Lisa Anderson (1987), ‘The State in the Middle East and North Africa’ 4. Nazih N. Ayubi (1990), ‘Etatism Versus Privatization: The Case of the Public Sector in Egypt’ 5. Nazih N. Ayubi (1995), ‘The Structure and Performance of Arab Administrations: New Challenges; Old Constraints’ 6. Michel Chatelus and Yves Schemeil (1984), ‘Towards a New Political Economy of State Industrialization in the Arab Middle East’ 7. M.R. Ghasimi (1992), ‘The Iranian Economy after the Revolution: An Economic Appraisal of the Five-Year Plan’ 8. Kate Gillespie and William A. Stoever (1988), ‘Investment Promotion Policies in Sadat’s Egypt: Lessons for Less-Developed Countries’ 9. Iliya Harik (1992), ‘Subsidization Policies in Egypt: Neither Economic Growth Nor Distribution’ 10. Mervat F. Hatem (1992), ‘Economic and Political Liberation in Egypt and the Demise of State Feminism’ 11. Norriss S. Hetherington (1982), ‘Industrialization and Revolution in Iran: Forced Progress or Unmet Expectation?’ 12. Raymond A. Hinnebusch (1993), ‘State and Civil Society in Syria’ 13. Adnan Mazarei, Jr. (1996), ‘The Iranian Economy under the Islamic Republic: Institutional Change and Macroeconomic Performance (1979-1990)’ 14. Özay Mehmet (1983), ‘Turkey in Crisis: Some Contradictions in the Kemalist Development Strategy’ 15. Michel G. Nehme (1994), ‘Saudi Development Plans Between Capitalist and Islamic Values’ 16. Se-Hark Park (1985), ‘Investment Planning and the Macroeconomic Constraints in Developing Countries: The Case of the Syrian Arab Republic’ 17. Volker Perthes (1992), ‘The Syrian Private Industrial and Commercial Sectors and the State’ 18. Patricia Springborg (1987), ‘The Contractual State: Reflections on Orientalism and Despotism’ 19. Robert Springborg (1991), ‘State-Society Relations in Egypt: The Debate Over Owner-Tenant Relations’ 20. John Waterbury (1991), ‘Twilight of the State Bourgeoisie?’ 21. Samir M. Youssef (1994), ‘The Egyptian Private Sector and the Bureaucracy’ Name Index Volume VI: Acknowledgements • Introduction Timothy Niblock 1. J.A. Allen (1983), ‘Libya Accommodates to Lower Oil Revenues: Economic and Political Adjustments’ 2. Abbas Alnasrawi (1984), ‘Middle East Oil and Economic Development: Regional and Global Implications’ 3. Hooshang Amirahmadi (1996), ‘Oil at the Turn of the Twenty First Century’ 4. S.N. Asad Rizvi (1993), ‘From Tents to High Rise: Economic Development of the United Arab Emirates’ 5. Cyrus Bina (1992), ‘The Laws of Economic Rent and Property: Application to the Oil Industry’ 6. William R. Brown (1982), ‘The Oil Weapon’ 7. Kiren Aziz Chaudhry (1989), ‘The Price of Wealth: Business and State in Labor Remittance and Oil Economies’ 8. Nazli Choucri (1986), ‘The Hidden Economy: A New View of Remittances in the Arab World’ 9. Samih K. Farsoun (1988), ‘Oil, State, and Social Structure in the Middle East’ 10. Deborah J. Gerner (1985), ‘Petro-Dollar Recycling: Imports, Arms, Investment and Aid’ 11. Mahmoud A. Kaboudan (1988), ‘Oil Revuenue and Kuwait’s Economy: An Econometric Approach’ 12. M.A. Katouzian (1978), ‘Oil Versus Agriculture: A Case of Dual Depletion in Iran’ 13. Walter J. Levy (1978/79), ‘The Years that the Locust Hath Eaten: Oil Policy and OPEC Development Prospects’ 14. Robert E. Looney (1990), ‘Saudi Arabian Budgetary Dilemmas’ 15. Robert E. Looney (1992), ‘Employment Creation in an Oil-Based Economy: Kuwait’ 16. Neil Richardson (1991), ‘Oil and Middle Eastern Politics’ 17. Hootan Shambayati (1994), ‘The Rentier State, Interest Groups, and the Paradox of Autonomy: State and Business in Turkey and Iran’ 18. Theda Skocpol (1982), ‘Rentier State and Shi’a Islam in the Iranian Revolution’ 19. Vahan Zanoydan (1995), ‘After the Oil Boom: The Holiday Ends in the Gulf’ Name Index

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

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Book SynopsisThe Political History of Eastern Europe in the 20th Century presents a fresh, up-to-date introduction to the struggle between democracy and dictatorship in Eastern Europe since 1900.The book is broken down into three different parts focusing on those time periods when experiments with democracy threatened to change the established order: the inter-war period, the democratic or semi- democratic interlude in the wake of the Second World War until 1949 and the current experience with the new democracies. In discussing the struggle between democracy and dictatorship, the authors argue that the experience of Eastern Europe reveals the challenges which threaten democracy and the conditions necessary for the survival of democratic government.The book will be essential reading for students of Eastern Europe, comparative politics, and European history.Table of ContentsContents: Preface 1. The Heritage 2. From Formal Democracy to Strongman Rule: 1917–45 3. Freedom from Facism, but How? Eastern Europe in 1945–49 4. The Crumbling Monolith 5. Democracy: The Second Coming 6. Prospects and Paradoxes Index

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Book SynopsisThis four-volume collection contains a comprehensive selection of over 70 modern papers in empirical corporate finance. Empirical Corporate Finance also features a new introduction by the editor which explains the basis for the selection of the articles and relates the empirical findings they report to recent developments in corporate financial theory.The volumes are arranged by subject matter, reflecting the broad stages in the life-cycle of the firm, starting with venture capital and initial public offerings, and then moving on to events that characterize corporate maturity: dividend policy, investment policy, corporate governance issues, and financing strategy. The volumes conclude with sections on takeovers and bankruptcy.A major feature of the collection is its attention to the relation between corporate financial policy and the legal and economic framework within which the corporation operates; thus evidence is provided for the importance of asset resale markets as well as product markets for the capital structure decision; the legal framework is shown to be related to financing policies in different countries; and the existence of financial institutions such as banks and leasing companies is shown to have important consequences for financial policy. A pervasive theme of the volumes is the importance of informational asymmetries and agency relationships for understanding phenomena in corporate finance.Empirical Corporate Finance will serve as a reference for professionals and MBA students who are concerned with the evidence on important issues such as initial public offerings, dividend policy, capital structure. The volumes will also serve, both as an introduction to the techniques of investigation in empirical corporate finance, and to the major substantive findings in the field for doctoral students; finally, they will be an invaluable source of reference to the most important work that has been done in each of the major areas of research.Trade Review'. . . this collection makes a timely contribution to the literature on the "new" corporate finance. An additional plus of the four volumes is that they are introduced by an excellent and exhaustive introduction by Brennan, setting the scene and summarising the main conclusions of the papers. . . the collection . . . will be extremely useful not only to finance specialists, but also to any other economist with an interest in financial economics.'Table of ContentsContents Volume I Acknowledgements Foreword Richard Roll Introduction Michael J. Brennan PART I METHODOLOGY 1. Eugene F. Fama, Lawrence Fisher, Michael Jensen and Richard Roll (1969), ‘The Adjustment of Stock Prices to New Information’ 2. Stephen J. Brown and Jerold B. Warner (1980), ‘Measuring Security Price Performance’ 3. N.R. Prabhala (1997), ‘Conditional Methods in Event Studies and an Equilibrium Justification for Standard Event-Study Procedures’ 4. John D. Lyon, Brad M. Barber and Chih-Ling Tsai (1999), ‘Improved Methods for Tests of Long-Run Abnormal Stock Returns’ PART II VENTURE CAPITAL AND INITIAL PUBLIC OFFERINGS 5. Bernard S. Black and Ronald J. Gilson (1998), ‘Venture Capital and the Structure of Capital Markets: Banks versus Stock Markets’ 6. William A Sahlman (1990), ‘The Structure and Governance of Venture-Capital Organizations’ 7. Joshua Lerner (1994), ‘Venture Capitalists and the Decision to go Public’ 8. Roni Michaely and Wayne H. Shaw (1994), ‘The Pricing of Initial Public Offerings: Tests of Adverse-Selection and Signaling Theories’ 9. Francis Koh and Terry Walter (1989), ‘A Direct Test of Rock’s Model of the Pricing of Unseasoned Issues’ 10. Kathleen Weiss Hanley and William J. Wilheim, Jr. (1995), ‘Evidence on the Strategic Allocation of Unseasoned Issues’ 11. Raghuran Rajan and Henri Servaes (1997), ‘Analyst Following of Initial Public Offerings’ 12. Alon Brav and Paul A. Gompers (1997), ‘Myth or Reality? The Long-Run Underperformance of Initial Public Offerings: Evidence from Venture and Nonventure Capital-Backed Companies’ PART III DIVIDEND POLICY AND EQUITY MANAGEMENT: SECONDARY OFFERINGS, SPLITS AND SHARE REPURCHASES 13. Roni Michaely, Richard H. Thaler and Kent L. Womack (1995), ‘Price Reactions to Dividend Initiations and Omissions: Overreaction or Drift?’ 14. Pyung Sig Yoon and Laura T. Starks (1995), ‘Signaling, Investment Opportunities, and Dividend Announcements’ 15. Theo Vermaelen (1984), ‘Repurchase Tender Offers, Signaling, and Managerial Incentives’ 16. David Ikenberry, Josef Lakonishok and Theo Vermaelen (1995), ‘Market Underreaction to Open Market Share Repurchases’ 17. Laurie Simon Bagwell (1992), ‘Dutch Auction Repurchases: An Analysis of Shareholder Heterogeneity’ 18. Michael J. Brennan and Patricia J. Hughes (1991), ‘Stock Prices and the Supply of Information’ Name Index Volume II Acknowledgements An introduction by the editor to all four volumes appears in volume I PART I CORPORATE INVESTMENT POLICY 1. John J. McConnell and Chris J. Muscarella (1985), ‘Corporate Capital Expenditure Decisions and the Market Value of the Firm’ 2. Steven N. Kaplan and Richard S. Ruback (1995), ‘The Valuation of Cash Flow Forecasts: An Empirical Analysis’ 3. Eugene F. Fama and Kenneth R. French (1997), ‘Industry Costs of Equity’ 4. Philip G. Berger, Eli Ofek and Itzhak Swary (1996), ‘Investor Valuation of the Abandonment Option’ 5. Owen Lamont (1997), ‘Cash Flow and Investment: Evidence from Internal Capital Markets’ 6. Olivier Jean Blanchard, Florencio Lopez-de-Silanes and Andrei Shleifer (1994), ‘What do Firms do with Cash Windfalls?’ PART II ORGANIZATIONAL STRUCTURE AND CONTROL 7. Randall Morck, Andrei Shleifer and Robert W. Vishny (1989), ‘Alternative Mechanisms for Corporate Control’ 8. Luigi Zingales (1995), ‘What Determines the Value of Corporate Votes?’ 9. Wayne H. Mikkelson and M. Megan Partch (1997), ‘The Decline of Takeovers and Disciplinary Managerial Turnover’ 10. Jennifer E. Bethel, Julia Porter Liebeskind and Tim Opler (1998), ‘Block Share Purchases and Corporate Performance’ 11. Benjamin C. Esty (1997), ‘Organizational Form and Risk Taking in the Savings and Loan Industry’ 12. James A. Brickley and Frederick H. Dark (1987), ‘The Choice of Organizational Form: The Case of Franchising’ PART III AGENCY, INCENTIVES, AND OWNERSHIP 13. Charles J. Hadlock and Gerald B. Lumer (1997), ‘Compensation, Turnover, and Top Management Incentives: Historical Evidence’ 14. Brian J. Hall and Jeffrey B. Liebman (1998), ‘Are CEOs Really Paid Like Bureaucrats?’ 15. Rajesh K. Aggarwal and Andrew A. Samwick (1999), ‘The Other Side of the Trade-Off: The Impact of Risk on Executive Compensation’ 16. Charles P. Himmelberg, R. Glenn Hubbard and Darius Palia (1999), ‘Understanding the Determinants of Managerial Ownership and the Link between Ownership and Performance’ 17. David J. Denis, Diane K. Denis and Atulya Sarin (1997), ‘Agency Problems, Equity Ownership, and Corporate Diversification’ Name Index Volume III Acknowledgements An introduction by the editor to all four volumes appears in volume I PART I CORPORATE FINANCIAL POLICY A The Role of the Legal Framework 1. Rafael La Porta, Florencio Lopez-de-Silanes, Andrei Shleifer and Robert W. Vishny (1997), ‘Legal Determinants of External Finance’ B The Role of Taxation and Security 2. John R. Graham (1996), ‘Debt and the Marginal Tax Rate’ 3. John R. Graham, Michael L. Lemmon and James S. Schallheim (1998), ‘Debt, Leases, Taxes, and the Endogeneity of Corporate Tax Status’ 4. Michael J. Alderson and Brian L. Betker (1995), ‘Liquidation Costs and Capital Structure’ 5. Mark Hoven Stohs and David C. Mauer (1996), ‘The Determinants of Corporate Debt Maturity Structure’ C The Role Of Private Incentives And Agency 6. Philip G. Berger, Eli Ofek and David L. Yermack (1997), ‘Managerial Entrenchment and Capital Structure Decisions’ D Debt as Precommitment 7. Assem Safieddine and Sheridan Titman (1999), ‘Leverage and Corporate Performance: Evidence from Unsuccessful Takeovers’ E Consequences for Valuation, Product Markets and Firm Survival 8. John J. McConnell and Henri Servaes (1995), ‘Equity Ownership and the Two Faces of Debt’ 9. Judith A. Chevalier (1995), ‘Capital Structure and Product Market Competition: Empirical Evidence from the Supermarket Industry’ 10. Dan Kovenock and Gordon M. Phillips (1997), ‘Capital Structure and Product Market Behavior: An Examination of Plant Exit and Investment Decisions’ 11. Luigi Zingales (1998), ‘Survival of the Fittest or the Fattest? Exit and Financing in the Trucking Industry’ PART II CAPITAL MARKET FINANCING: TIMING AND SOURCE OF FUNDS 12. Kooyul Jung, Yeong-Cheol Kim and René M. Stulz (1996), ‘Timing, Investment Opportunities, Managerial Discretion, and the Security Issue Decision’ 13. Tim Loughran and Jay R. Ritter (1995), ‘The New Issues Puzzle’ 14. Tim Loughran and Jay R. Ritter (1997), ‘The Operating Performance of Firms Conducting Seasoned Equity Offerings’ 15. Joel F. Houston and Michael D. Ryngaert (1997), ‘Equity Issuance and Adverse Selection: A Direct Test Using Conditional Stock Offers’ 16. Larry Lang, Annette Poulsen and René Stulz (1995), ‘Asset Sales, Firm Performance, and the Agency Costs of Managerial Discretion’ PART III THE ROLE OF INTERMEDIATED FINANCE 17. Takeo Hoshi, Anil Kashyap and David Scharfstein (1991), ‘Corporate Structure, Liquidity, and Investment: Evidence from Japanese Industrial Groups’ 18. Mitchell A. Petersen and Raghuram G. Rajan (1994), ‘The Benefits of Lending Relationships: Evidence from Small Business Data’ 19. Mark Carey, Mitch Post and Steven A. Sharpe (1998), ‘Does Corporate Lending by Banks and Finance Companies Differ? Evidence on Specialization in Private Debt Contracting’ 20. Mitchell A. Petersen and Raghuram G. Rajan (1997), ‘Trade Credit: Theories and Evidence’ 21. Steven A. Sharpe and Hien H. Nguyen (1995), ‘Capital Market Imperfections and the Incentive to Lease’ Name Index Volume IV Acknowledgements An introduction by the editor to all four volumes appears in volume I PART I RISK MANAGEMENT 1. Peter Tufano (1996), ‘Who Manages Risk? An Empirical Examination of Risk Management Practices in the Gold Mining Industry’ 2. Catherine Schrand and Haluk Unal (1998), ‘Hedging and Coordinated Risk Management: Evidence from Thrift Conversions’ 3. Mitchell A. Petersen (1994), ‘Cash Flow Variability and Firm’s Pension Choice: A Role for Operating Leverage’ PART II CORPORATE ACQUISITIONS AND DIVESTITURES [241 pp] 4. Randall Morck, Andrei Shleifer and Robert W. Vishny (1990), ‘Do Managerial Objectives Drive Bad Acquisitions?’ 5. Mark L. Mitchell and Kenneth Lehn (1990), ‘Do Bad Bidders Become Good Targets?’ 6. Steven N. Kaplan and Michael S. Weisbach (1992), ‘The Success of Acquisitions: Evidence from Divestitures’ 7. Larry H.P. Lang and René M. Stulz (1994), ‘Tobin’s q, Corporate Diversification, and Firm Performance’ 8. Michael Bradley, Anand Desai and E. Han Kim (1988), ‘Synergistic Gains from Corporate Acquisition and their Division between the Stockholders of Target and Acquiring Firms’ 9. Arthur Warga and Ivo Welch (1993), ‘Bondholder Losses in Leveraged Buyouts’ 10. Richard A. Ippolito and William H. James (1992), ‘LBOs, Reversions and Implicit Contracts’ 11. Sudha Krishnaswami and Venkat Subramaniam (1999), ‘Information Asymmetry, Valuation, and the Corporate Spin-off Decision’ PART III BANKRUPTCY, RE-ORGANIZATION AND LIQUIDATION 12. Todd C. Pulvino (1998), ‘Do Asset Fire Sales Exist? An Empirical Investigation of Commercial Aircraft Transactions’ 13. Julian R. Franks and Walter N. Torous (1994), ‘A Comparison of Financial Recontracting in Distressed Exchanges and Chapter 11 Reorganizations’ 14. Paul Asquith, Robert Gertner and David Scharfstein (1994), ‘Anatomy of Financial Distress: An Examination of Junk-Bond Issuers’ 15. Stuart C. Gilson (1990), ‘Bankruptcy, Boards, Banks, and Blockholders: Evidence on Changes in Corporate Ownership and Control When Firms Default’ 16. Hamid Mehran, George E. Nogler and Kenneth B. Schwartz (1998), ‘CEO Incentive Plans and Corporate Liquidation Policy’ Name Index

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Book SynopsisThis important volume collects together eighteen major essays written by Ryuzo Sato over the last thirty years in the area of growth theory and technical change. After an autobiographical introduction describing Professor Sato's intellectual and personal development, the book presents his early pioneering work on growth models and the relevance of fiscal policy and time in these models. Later essays focus on the application of optimal control theory to growth theory, his work on endogenous growth, endogenous technical change and the development of 'Sato-Beckmann neutrality'.This landmark book will be welcomed by researchers, teachers and students interested in technical change and progress.Table of ContentsContents: Part I: Growth Theory 1. Fiscal Policy in a Neo- Classical Growth Model: An Analysis of Time Required for Equilibrating Adjustment 2. The Harrod-Domar Model vs. the Neo-Classical Growth Miodel 3. Factor Prices, Productivity and Economic Growth 4. Stability Conditions in Two-Sector Models of Economic Growth 5. Optimal Savings Policy when Labor Grows Endogneously 6. Population Growth and the Development of a Dual Economy 7. Shares and Growth under Factor Augmenting Technical Change 8. A Note on Economic Growth, Technical Progress and the Production Function 9. A Note on Scarcity of Specific Resources as a Limit to Output: A Correction 10. A Further Note on a Difference Equation Recurring in Growth Theory Part II: Technical Change 11. Neutral Inventions and Production Functions and An Addendum 12. The Estimation of Biased Technical Progress and the Production Function 13. Aggregate Production Functions and Types of Technical Progress: A Statistical Analysis 14. The Impact of Technical Change of the Holotheticity of Production Functions 15. Factor Price Variation and the Hicksian Hypothesis: A Microeconomic Model 16. A Theory of Endogenous Technical Progress: Dynamic Böhm-Bawerk Effect and Optimal R & D Policy 17. Technical Progress, the Schempeterian Hypothesis and Market Structure 18. Measuring the Impact of Technical Progress on the Demand for Intermediate Goods: A Survey Name Index

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Book SynopsisSuccessful Transformations? contrasts the recent experience of economic development in Eastern Germany and the Czech Republic. It provides a comparative up-to-date account critically assessing the transition from central planning to a free market economy. The book highlights the very different paths that these two economies have taken. Eastern Germany has been absorbed almost entirely into the political and economic framework of West Germany. In contrast the Czech Republic - which is widely acclaimed to have made the speediest transition - has from the outset adopted an independent line. The book illustrates the strengths and weaknesses of these two different paths and addresses the key question as to whether the relative success of these two economies can point to a special policy regime which might aid economic transition in other former communist countries.Trade Review'Taken together, the eight chapters are an extremely good account of these two experiences, show clear strengths and weaknesses of the transition processes, and present facts enough to be open to a wide readership. Some interesting points are put forward and the authors offer guidance on transitional tactics.' -- Bruno S. Sergi, KyklosTable of ContentsContents: Introduction Part I: The East German Transformation 1. East Germany’s Way 2. The Role of the Treuhandanstalt 3. East Germany’s New Firms Part II: The Economic Transformation in the Czech Republic 4. Stability Before Growth? 5. An Incomplete Transformation? 6. Transforming Czech Enterprises 7. The Restructuring of Industry Part III: Conclusion 8. Towards Sustainable Growth?

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

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Book SynopsisFinancial reforms in the former command economies of Central and Eastern Europe have given birth to institutions that further the links between these economies and the world economy. This book studies in a comparative framework financial developments in Central and Eastern Europe and highlights aspects that are unique to these developments.The book begins with country profiles of Albania, Bulgaria, Croatia, Czech Republic, Hungary, Macedonia, Poland, Romania, Slovak Republic, Slovenia and FR Yugoslavia. The transition process in eleven countries is tracked by means of a review of the role of monetary policy in macroeconomic stabilization, the characteristics of the banking systems, the transfer of corporate ownership through privatization schemes, the dynamics of exchange-related trading, and the role of international funding. The book turns then to an in-depth analysis of specific issues including central bank independence, the design of promotional banks, privatization processes, the efficiency of emerging capital markets, financial risk, and foreign debt settlement.The book will appeal especially to policymakers interested in the evolution and operation of financial institutions in transitional economies, and to academics and researchers who are keen to learn more about the economics of transition, financial and monetary economics, and comparative economic systems.Trade Review'The great merit of the present work is that it provides depth and detail on a set of policy issues that are surely crucial to the ultimate success of the process of economic transformation in the former communist world. . . . One of the great merits of this book is that it provides detailed discussion of a number of key technical issues of banking and financial systems that are often neglected in works of this kind.' -- David A. Dyker, Slavic ReviewTable of ContentsContents: Introduction Part I: Country Profiles Part II: Selected Topics

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

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Book SynopsisThis book provides an evaluation of the intellectual development of Gunnar Myrdal, emphasizing his methodology, his beliefs about economics and the role of economists in modern society. It explains how Gunnar Myrdal became an institutional economist and how this perspective influenced his contribution to economic development and attempts to close the gap between rich and poor countries.The main argument of the book is that economists, despite being trained in the orthodox neoclassical tradition, can develop an alternative conception that is more relevant and appropriate for analysis and policy making in developing and transition economies. Much of the discussion focuses on the evolution of Gunnar Myrdal's intellectual development and his contributions to transformation issues in an historical context. Specific issues discussed include political and social problems and transformation policy for Central and Eastern Europe.The Political Economy of Gunnar Myrdal will be welcomed by academics and students researching in the fields of the history of economic thought, comparative economics and economic development.Trade Review'The book certainly does provide the reader with a very useful investigation of Myrdal's intellectual metamorphosis from his early training as a neoclassical economist to that of a broadly-defined institutionalist economist . . . Angresano's book is a welcome addition to the growing body of literature assessing Myrdal's contributions to economics. While a review of his life and work can be found in other books and journal articles, the attempt to link with present-day issues regarding the restructuring of the CEE countries is fascinating and, indeed, quite original. The author deserves praise for having attempted this amalgamation of the historical analysis of Myrdal's ideas with a discussion of the relevance of his approach today.' -- Mario Seccareccia, Review of Social Economy 'This book is a very useful addition to the literature on economic thought in the 20th century. . . . very useful and interesting, and provides delightful reading.'– Gilles Dostaler, The Economic JournalTable of ContentsContents: Preface 1. Transformation policy: Searching for a Useful Perspective 2. Gunnar Myrdal I: 1915–33, The Years of ‘High Theory’ 3. Gunnar Myrdal II: 1929–38, Political and Social Economist 4. Gunnar Myrdal III: 1938–87, Emergence as an Institutional Economist 5. Myrdalian Contributions to Transformation Issues Appendix: Two Interviews with Gunnar Myrdal Index

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Book SynopsisThis book presents a critical assessment of the political and social order in the post-revolutionary decade of the 1990s in both the transitional economies and Western welfare states confronting fiscal crises. As we enter the new post-socialist century, James M. Buchanan argues that we need to think and act on the premise that the future is uncertain.James M. Buchanan examines the political economy of the post-socialist era, analysing the events of 1989-91 and some of their predicted consequences. In addition he reflects upon the influence of those revolutionary years and the reactions to the changes, as well as the role of economists in the new socio-political environment. The political economy of the post-socialist era will be determined by the forces of historical development, social and cultural evolution, directed political change and exogenous shocks. To a large extent, many of these forces cannot be planned for, except directed political change. This insightful new book will be welcomed by political economists, legal and political philosophers, political scientists and public choice economists.Trade Review'. . . this is a thought-provoking book written by one of the most eminent economists of our time on a subject that follows from some of the most momentous events of this century. . . . a book that pays reading.' -- Vani Borooah, The Economic Journal'. . . excellent collection of essays . . . Buchanan has written an important book that will spark debates over the direction of post communist transitions for years to come.'– Beverly Crawford and Nick Biziouras, Slavic ReviewTable of ContentsContents: Introduction Part I: Scientific Vistas Part II: Post-Revolutionary Interpretation Part III: Constitutional Understanding Part IV: Federalism Index

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Book SynopsisThe Political Economy of Economic Freedom brings together a timely selection of Sir Alan Peacock's views on economic freedom, its philosophy, its influence on the critique of economic policy and the problems encountered in expanding it.The book represents a diversity of experience ranging from academic speculation to close involvement with policy issues. An opening chapter introduces the essays and discusses the promotion of economic freedom. The book is then divided into three parts and each essay is introduced with a discussions of its intellectual origins. Part I considers how far the pursuit of individual freedom conditions government intervention in the pursuit of economic growth, the right to freedom of expression, conduct in the market place and the distribution of income, affording the author an opportunity to analyse the views both of his contemporaries and such major figures as Hume and Keynes. In Part II the author uses his specialist knowledge of public choice and public finance to explore 'government failure' in attempts to impose progressive taxation, to influence industry through subsidy and regulation and to control bureaucracy. In the final part, the author draws on his personal experience to demonstrate the problems encountered by economic advisers in devising reforms in the tax system, the devolution of government, social security and broadcasting.This volume will be welcomed by business and government, as well as by professional economists and social scientists familiar with Sir Alan's commitment to economic analysis as the servant of policy debate rather than merely a form of intellectual gymnastics.Trade Review'The captivating nature of these contributions to political economy - which were all published between 1976 and 1996, but mostly in the last decade - is a clear reflection of Sir Alan's authoritative standing both as an academic economist and a government economic advisor. . . . the book addresses a wide range of philosophical questions and practical policy issues, thus offering plenty of stimulating material for both the theoretical and applied economist, as well as other social scientists.'Table of ContentsContents: Introduction 1. The Promotion of Economic Freedom Part I: Political Economy 2. Economic Freedom 3. Ethics, Economics and the Liberal Order 4. The Value of Freedom of Expression 5. Liberalism and Economic Growth 6. Welfare Philosophies and Welfare Finance 7. Foreword to David Hume’s Political Discourses 8. Keynes and the Role of the State 9. The LSE and Post-war Economic Policy Part II: Analysis 10. The Justification for Progressive Taxation 11. The Rise and Fall of the Laffer Curve 12. The Disaffection of the Taxpayer 13. Economic Analysis of Problems of Government Selective Aid with Martin Ricketts 14. Bargaining and the Regulatory System with Martin Ricketts 15. Public X-inefficiency: Informational and Institutional Constraints 16. Government Debt and Growth in Public Spending with Ilde Rizzo Part III: Policy and Reform 17. Fiscal Theory and the ‘Market’ for Tax Reform 18. Designing Tax Reform: Identifying the Problems 19. The Political Economy of Devolution: The British Case 20. The ‘Politics’ of Investigating Broadcasting Finance 21. The Political Economy of Public Service Broadcasting 22. The Credibility of Economic Advice to Government 23. The Utility-maximizing Government Economic Adviser: A Comment Index

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Book SynopsisFull employment and growth in the international economy remain the greatest economic challenges as we approach the twenty-first century. This important book, edited by two leaders in the field, rigorously examines these real world problems from a post Keynesian perspective and provides practical policy solutions for achieving growth and reducing unemployment.The increasing interdependence of world trade and the integration of capital markets has led to the globalization of the international economy. This globalization demands new policy prescriptions for international growth and employment without inflation. In order to combat stagflation, a distinguished group of authors suggests policies for achieving growth and employment within the framework of an entrepreneurial market system. They identify and evaluate the factors determining the expansion of the global economy and assess the impact of financial markets, derivatives and international regulations on domestic and global economic performance.Improving the Global Economy will be of special interest to policymakers, macroeconomists and all those concerned with global growth and employment issues.Trade Review'The book offers a useful collection of contributions . . . both on the relevance of the economics of Keynes, as well as on some key issues of concern for the growth of the global economy.' -- Claudio Lucifora, The Economic JournalTable of ContentsContents: Introduction Part I: Consumption, Investment and Government Spending Part II: Roundtable: Can Keynes’s Employment Policies Reach the Underclass? Part III: Keynes and Economic Development Part IV: Income Distribution Index

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Book SynopsisEthnic Diversity, Liberty and the State is an insightful study of highly centralized, unitary systems of government and the breakdown of civil society in sub-Saharan Africa. The author argues persuasively that institutional reform involving decentralization and federalism can better accommodate ethnic diversity in the area.Table of ContentsContents: 1. Introduction 2. From Tribal Chief to Dictator 3. Ethnic Nations and Associations in Africa 4. Optimal Ethnic Integration and Separation 5. Integration, Centralization and Rent-Seeking 6. Integration, Centralization and Ethnic Conflict 7. Reducing Ethnic Externalities through Decentralization 8. Maintaining Unity and Diversity: Federalism 9. The Demand for Federalism in Africa 10. Constitutionalism and Civil Society in Africa 11. Protecting Property and Economic Liberties 12. Ethnic Representation and Voting Rules 13. Political Divorce: Redrawing Africa’s Borders Index

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Book SynopsisPromises, Promises examines from a libertarian perspective, the differing methods and levels of success of adapting contract law in the Czech Republic, Hungary, Poland and especially Russia in the wake of political change. The author analyses the roles of government power and policy, opportunism and private regulatory mechanisms within the pattern of change.Table of ContentsAlternative methods of legal change; contracts and opportunism; private mechanisms; Czech Republic, Hungary, Poland; Russia; government policy; creation of efficient rules; implications.

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Book SynopsisPaul Dale Bush has been an imaginative and important contributor to the neo-institutionalist economic literature in the United States for over three decades. This is the first of two volumes presenting a tribute to this highly influential scholar.The majority of Paul Dale Bush's recent scholarly writings have addressed the clarification and refinement of the pragmatic instrumentalist model of inquiry. This book first reviews Dale Bush's main contributions to academic life and to neo-institutional scholarship. Internationally recognized contributors - Phillip Anthony O'Hara, Erkki Kilpinen, Geoffrey M. Hodgson, Kurt Dopfer, Warren J. Samuels, Edythe S. Miller, Ann L. Jennings and William Waller - then provide a penetrating analysis of the Veblen-based neo-institutionalist theoretical approach to inquiry and its reflection in social value theory.This book will be of great interest to postgraduate students and scholars in the field of institutional economics, political economy, history of economic thought, methodology and social value theory.Table of ContentsContents: 1. The Contribution of Paul Dale Bush to Academic Freedom and Institutional Economics 2. The Pragmatic Foundations of the Institutionalistic Method: Veblen’s Preconceptions and their Relation to Peirce and Dewey 3. Dichotimizing the Dichotomy: Veblen versus Ayres 4. On Veblen’s Coining of the Term ‘Neoclassical’ 5. Causality and Order in Economics: Foundational Contributions by G. Schmoller and W. Eucken 6. The Historical Quest for Principles of Valuation: An Interpretive Essay 7. Institutional Economics and Eternal Verities: A Contribution to the Discussion 8. Institutions and Social Valuation Index

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Book SynopsisThroughout his long career as a professional scholar, Paul Dale Bush has been a cogent theorist, a model practitioner and an ardent defender of academic freedom and of democratic practices. Institutionalist Theory and Applications is the second of two volumes celebrating his career and his contribution to neo-institutional economics.This volume presents contributions by a distinguished group of institutionalist scholars: Edythe S. Miller, Philip A. Klein, James A. Cypher, F. Gregory Hayden, John Groenewegen, Peter Soderbaum, Charles M.A. Clark, Catherine Kavanagh and Janice Peterson. The book explores the interdependence of theory and policy and applies institutional theory to several problem areas of governance and performance.This book will be of great interest to postgraduate students and academics in the field of institutional economics, evolutionary economics, political economy, history of economic theory, methodology, social economics, social policy and social value theory.Table of ContentsContents: Preface 1. Instrumental Inquiry and Democratic Governance 2. The Interdependence of Theory and Practice 3. Normative Macroeconomics 4. Financial Dominance in the US Economy 5. Normative Analysis of Instituted Processes 6. Changes in the Institution of Corporate Governance 7. Science, Ethics and Democracy 8. How are we Doing? 9. Institutional Economics in the Classroom Index

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Book SynopsisDavid Gordon was a pioneer in the burgeoning field of institutional growth economics, introducing the concept of a 'social structure of accumulation', and richly illustrating its usefulness with both econometric and historical studies. Gordon also helped to develop the theory of segmented labor markets and contributed to the econometric and historical analysis of their evolution. This authoritative collection of his most influential works - selected and introduced by his two closest collaborators - embraces the full range of his lifelong scholarly endeavor to deploy modern economic reasoning in the cause of social justice.The work opens with an introduction and overview of David Gordon's career and published work. This is followed by his major essays on a great variety of topics, including the economics of crime, urban history, wage stagnation in the US economy, the organization of work, the 'top-heavy' modern corporation, the social and institutional determinants of productivity growth and the globalization of economic life, as well as labor market segmentation and the social structure of accumulation.Gordon's synthesis of questions of neo-Marxian and more conventional provenance, and his integration of historical and econometric methods in providing answers, makes Economics and Social Justice a unique and intellectually rewarding analysis of contemporary capitalism.Trade Review'. . . a collection for the specialist. There are good papers which will appeal to some geographers. . .' -- David M. Smith, Progress in Human GeographyTable of ContentsContents: Introduction (S. Bowles and T. Weisskopf) Part I: Urban Problems and Labor Markets Part II: Long Swings and Cycles Part III: US Productivity Growth, Profitability and Investment Part IV: Macroeconomic History Part V: Heterodox Macroeconomics Part VI: Supervisory Labor and the Bureaucratic Burden Part VII: Macroeconomic Policy Issues

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Book SynopsisThis is the third and final volume written in honour of Bernard Corry and Maurice Peston by an internationally renowned group of experts, and focuses on the application of economics to policy advice.The contributors to this volume consider practical policy issues including labour market policy and the problem of unemployment, methodology and econometric analysis, taxation policy, industrial regulation, practical applications of transaction cost theory in the European Union, policy issues such as foreign direct investment and pension reform affecting transition economies and training policies in developing countries.Table of ContentsContents: Introduction Part I: Labour Markets and Employment 1. The Post-redundancy Experience and the Dynamics of Local Labour Market Adjustment 2. Flexible Labour Markets and Economic Performance 3. Firms’ Strategies and Cooperative Games Part II: Methodological Issues in Economic Policy 4. Problems of Time-series Econometrics 5. Why Firms Invest Less but Adopt Higher Capital Intensity as the Capital Stance Tightens 6. Do Shocks Matter? Part III: Policy Issues 7. Household Production, Human Capital and Optimal Linear Income Taxation 8. Ex Post Value Regulation of Pharmaceutical Prices 9. Timing of Payment Conventions for Consumer Purchases Part IV: Economic Policy, Transition and Development 10. China’s Overseas Investment 11. Pension Reform in Central and Eastern Europe 12. A Governmental Role in Training Markets in Developing Countries Index

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Book SynopsisUnemployment in Theory and Practice examines the effectiveness of current policies in the battle against unemployment. It uses a variety of country case studies to analyse the range of potential causes of and cures for unemployment and analyses the complex nature of labour markets. This volume surveys the policy options and prescribes a mix of both macro and microeconomic policies to combat unemployment effectively. The contributors address the issue of policy targeted groups, including self-employed and older workers, and offer a comprehensive survey of key empirical findings. Issues considered include the rising number of self-employed in Australia and the labour market prospects for the aged in Germany. Particular labour market policies are discussed including the role of training and concerted international action through social democratic and trade union collaboration. The nature of unemployment in countries characterized by economic and social transformation, such as Bulgaria and Poland, is also analysed in detail. The final section of the book is dedicated to wage policy and compensatory pay for the unemployed. It challenges the conventional neoclassical wisdom that wage constraints and limited trade union power will necessarily lead to labour market improvements and reduced unemployment. Evidence from Germany and South Africa is used to argue that collective action is a promising policy alternative. International in scope, the book will be essential reading for undergraduate and postgraduate students of economics, political economy, industrial relations and international economics. It will also appeal to professional economists, sociologists, political scientists, trade unionists and policy advisors.Table of ContentsContents: 1. Unemployment: From Macro to Micro Perspectives 2. Identifying Policy Target Groups 3. Evaluating Active Labour Market Policies 4. Unemployment in Central and Eastern Europe 5. Wage Policy and Compensatory Pay

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Book SynopsisThis major book presents an objective and penetrating economic analysis of stabilization and reform in Eastern Europe, combined with a compassionate plea for individual rights and solidarity.Janos Kornai - one of the most famous Hungarian economists of his generation - focuses on two main issues: first, the problems of stabilization and adjustment, which are painful but necessary conditions of sustainable growth and second, the reform of the 'premature welfare state' of Eastern European countries, which is disproportionately large in relation to the resources available and which was hitherto managed in a highly centralized, bureaucratic and paternalistic way.Struggle and Hope goes beyond most other books on the transition process by placing considerable emphasis on the understanding of the ethical implications and the historical roots of each problem, and also the political conditions and consequences of change. Although economic efficiency is extremely important, it is not the exclusive criterion; ethical principles of individual sovereignty and solidarity must also receive particular attention.Professor Kornai's insightful analysis will become required reading for all those concerned with the process of post-socialist transition.Trade Review'. . . he [the author] presents an interesting and original analysis of the transition to a post-socialist economy. . . . The book presents an illuminating analysis of the macroeconomic and social policy options in the process of change from a centrally planned, socialist economy to one based on the market and private enterprise.'Table of ContentsContents: 1. Eliminating the Shortage Economy: a General Analysis and Examination of Developments in Hungary 2. Lasting Growth as Top Priority: Macroeconomic Tensions and Government Economic Policy in Hungary 3. A Steep Road: an Interview by László Zsolt Szabó on the Stabilization Programme 4. The Dilemmas of Hungarian Economic Policy: An analysis of the Stabilization Programme 5. Paying the Bill for Goulash Communism: Hungarian Development and Macro Stabilization in a Political-Economy Perspective 6. Adjustment without Recession: A Case Study of Hungarian Stabilization 7. The Responsibility of the Individual and Society: An Interview by Mihály Laki on Social Issues 8. The Citizen and the State: Reform of the Welfare System Index

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Book SynopsisWhy do some countries have faster rates of economic growth than others?The relationship between economic growth and the political structure of a country has long been explored in an attempt to understand why some countries experience faster rates of growth than others. This book explores these issues from a new in-depth perspective, challenging conventional theory which claims that democracy promotes economic growth.In examining the economic consequence of politics and institutions, the author provides an extensive critical review of 47 empirical studies. This previous research on the relationship between political and institutional systems and economic policy and growth is analysed and its conclusions questioned. Clemens Siermann then creates a new up-to-date data set on the causality between political and institutional factors and economic variables. In examining the relationship between economic growth, institutional systems and political stability, the author assesses their impact on inflation, fiscal policy, central bank independence, budget deficits, public debt and the investment-income ratio. In conclusion, he argues, that political stability, rather than the type of political system, is a key factor in explaining the differences in the rates of economic growth between countries. This insightful new book will be of interest to economists, political scientists, researchers and post-graduates working in the fields of political economy, growth theory and economic development.Trade Review'Regardless of what one thinks of its limits, however, American political scientists working on the topic should consult this book . . . [they] will have something to learn from it.' -- Mark Hallerberg, The Journal of PoliticsTable of ContentsContents: 1. What This Book Aims to Achieve 2. Measuring Democracy and the Stability of Political Institutions 3. Political and Institutional Determinants of Inflation 4. Democracy, Political Instability and Fiscal Policy 5. Freedom, Political Instability and Economic Growth 6. Conclusion and Results Appendices Index

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Book SynopsisThe Political Economy of Modern Britain provides an original discussion of Britain's relative economic decline since World War Two and offers approaches to overcome this poor economic performance.Detailed and comprehensive, this book has three basic objectives. First, it describes the key political and economic decisions or events which have shaped Britain's economic performance in the post-war period. Secondly, the authors critically discuss the range of explanations which have been offered by those seeking to understand Britain's relative economic decline. Finally, it offers an alternative approach to improving Britain's economic performance known as 'the strategic alignment of national and corporate competitiveness'. In this approach the authors attempt to escape from the traditional left-right debate concerning the degree to which the state should replace the market in owning and controlling key sectors of the economy, and instead they focus on the state as a facilitator in the provision of assets required by firms competing in the international arena.This book will be welcomed by government and management striving to improve corporate and national competitiveness. Additionally academics and students interested in the fields of British politics, British political economy, British economic and social history, international political economy and European political economy will also find this a highly valuable source of information.Trade Review'This work provides an original discussion of Britain's relative economic decline since World War II and offers some approaches to overcoming such poor economic performance.' -- Business Horizons'This is a useful book.'– Economic Outlook and Business ReviewTable of ContentsContents: Preface: The Description and Explanation of Britain’s Relative Economic Performance Part A: Describing Britain’s Relative Economic Performance Part B: Explaining Britain’s Relative Economic Performance Part C: Improving Britain’s Relative Economic Performance Index

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Book SynopsisChallenges to the Welfare State examines and assesses cultural, economic and political problems facing welfare states in Europe and North America and provides policy suggestions to alleviate these problems. An important group of authors identifies the relative merits of welfare state systems in the United States and Europe. They consider the transition of the welfare state in former Communist countries to more market oriented systems and the status of the European welfare state in the context of deepening European integration. More specifically, these experts address the question of whether further integration in Europe will result in an environment where all citizens are guaranteed only certain basic social rights and are encouraged to take private financial responsibility for health care, pension provision and insurance. The nature of social insurance institutions, the problems of ageing populations and the backlash against increasing taxation are also considered. The authors conclude that the reduction of existing government debt in the context of the move towards European Monetary Union will require either considerable increases in taxation or a significant reduction in entitlements.This book will be required reading for scholars and students of economics, social and public politics, politics and public administration.Trade Review'This book will be of interest to welfare-state scholars seeking recent and well-informed observations on a broad range of issues. There is much valuable and fairly current information contained in this eclectic volume.'Table of ContentsContents: Introduction by H. Cavanna 1. Challenges to the Welfare State (S. Brittan) 2. The American Welfare State: Exceptional No Longer? (N. Glazer) 3. The Waning of Solidarity? Securing Work and Income and Welfare Statism at Present (H. Keman) 4. Political Reconstruction of the European Welfare States (S. Kuhnle) 5. Welfare State and Welfare Mix in a New Labour Market (P. Scherer) 6. The Welfare State Backlash and the Tax Revolt (K. Newton) 7. Welfare Reform in Southern Europe: Institutional Constraints and Opportunities (M. Ferrera) 8. From the Communist Welfare State to Social Benefits of Market Economy: The Determinants of the Transition Process in Central Europe (V. Rys) 9. The Crisis of the Welfare State (E. Matzner) 10. Doing Good Without the Idea of Good (P. Bénéton)

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Book SynopsisJudge Richard A. Posner's work on the economics of public law is a critical component of the interaction between the new law and economics movement and public choice theory. It exemplifies the parallel influence that these two important intellectual movements have had on the current understanding of legal institutions. Together with an insightful introduction by Francesco Parisi, this volume brings together his most important contributions on areas such as: the economics of constitutional law and legislation the economics of criminal law the economics of labour law and employment discrimination the economics of antitrust. The Economics of Public Law will be essential reading for economists, lawyers and judges alike.Table of ContentsContents: Introduction Part I: Legislation and Constitutional Law Part II: Criminal Law Part III: Labor Law and Employment Discrimination Part IV: Regulation and Antitrust Index

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Book SynopsisThe current economic transition in Central and Eastern Europe is leading to the emergence of significant fragmentation within regions and between countries. The competitive struggle for scarce resources and global markets during the transition to capitalism in Eastern and Central Europe has caused countries to move away from a process of regional convergence which existed under state socialism to regional divergence. This book focuses on regional economic change in Eastern and Central Europe using Slovakia as a case study. It explains the relationship between industrial change and regional development, and discusses fragmentation within the context of the legacy of the state socialist industrialization model. The book interweaves up-to-date empirical analysis with theoretical debates and uses regional case studies to highlight key issues.Reconstructing the Regional Economy examines both the limits and scope of regional capitalist development, documenting the nature and causes of uneven development in Slovakia. It addresses industrial and restructuring strategies, arguing that current progress must be understood within the context of the past, and that the present complex mix of old and new economic and institutional structures contribute significantly to economic fragmentation and divergence. The author criticises shock therapy, and argues that the transition to a market economy cannot simply be achieved through filling the supposed vacuum left by the collapse of central planning. This original and important book will be welcomed by academics and students interested in the economics of transition and by policymakers in Western and Eastern European countries.Trade Review'Reconstructing the Regional Economy is a book that seriously and vigorously explores the origins and processes of uneven regional economic development in the post-socialist sphere. The combination of theoretical understanding and extensive empirical knowledge provides a "wholeness" of presentation that is convincing and impressive. It is a significant work that will both contribute to, and further, our understanding of post-socialist transformation.'Table of ContentsContents: 1. Introduction: The Regional Question and Approaches to Transition in Eastern and Central Europe Part I: Regional Development, Industrial Restructuring and Eastern and Central Europe Part II: State Socialism and Regional Development Part III: The ‘Transition to Capitalism’ and Regional Development Part IV: Conclusions and Alternatives Index

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

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Book SynopsisThis impressive book brings together four essays, which along with an insightful introduction from Charles Rowley, provide a robust defence of the concept of classical liberalism in modern 'civil' society. In the first essay, Douglas Rasmussen and Douglas Uyl discuss the basic approaches and principles of liberalism in the post-modern age and show how a moral philosophy can serve to support a political philosophy. They supply a clear, fundamental defence of liberalism in an era which has become sceptical of its doctrines. This is followed by Peter Ordeshook's authoritative analysis of the foundations of democracy, in relation to the demise of communist ideology, particularly in the former Soviet Union. Paul Rubin then examines, from a libertarian perspective, the differing methods and degrees of success of adapting contract law in Russia, the Czech Republic, Hungary and Poland in the wake of political change. Finally, Mwangi S. Kimenyi provides an original study of highly centralized, unitary systems of government and the breakdown of civil society in Sub-Saharan Africa. He argues persuasively that institutional reform involving decentralization and federalism can better accommodate ethnic diversity in the area. With contributions from some of the most eminent scholars in the field, Classical Liberalism and Civil Society provides a rigorous justification of classical liberal polity.Trade Review'. . . a thoughtful philosophical defence of political liberalism.' -- S.D. Jacobitti, ChoiceTable of ContentsContents: On the Nature of Civil Society (C.K. Rowley) Liberalism Defended: The Challenge of Post-Modernity (D.B. Rasmussen and D.J.D. Uyl) Lessons for Citizens of a New Democracy (P.C. Ordeshook) Promises, Promises: Contracts in Russia and Other Post-Communist Economies (P.H. Rubin) Ethnic Diversity, Liberty and the State: The African Dilemma (M.S. Kimenyi)

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Book SynopsisIn the last two decades of the twentieth century evolutionary economics has become one of the most important and exciting developments in social science. It is associated with a huge theoretical, empirical and policy literature. Yet relatively little is known about the development of the foundations of evolutionary economics over the preceding 100 years. The gap is filled by this collection of essays by Thorstein Veblen, John Commons, John Maurice Clark, Alfred Marshall, John Atkinson Hobson, Joseph Schumpeter, Armen Alchian, Edith Penrose, Nicholas Georgescu-Roegen, Friedrich Hayek among others. An original introduction by the editor places these contributions in their historical context.Trade Review'These two volumes do give a substantial picture of the paths and diversions that evolutionary thought has travelled over the past century.' -- John Nightingale, History of Economics ReviewTable of ContentsContents: Introduction Volume I: Part I: The Emergence of Economic Biology in the Nineteenth Century Part II: The ‘Post-Darwinian’ Economics of Thorstein Veblen • Volume II: Part I: The Dark Age of Evolutionism: 1910-1940 Part II: The Re-Emergence of Evolutionary Economics after 1945

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

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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 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 SynopsisEconomic Science and Practice seeks to bridge the gulf between economic theory and policy and overcome some of the problems created by the specialized nature of much economic research. A distinguished group of academic economists and experienced policymakers, from both Europe and the United States, sheds new light on the relation between theory and practice and reflects on the current state of economics. There is an ever present danger that modern economic theory is becoming too detached from the real world. In contrast to this concern there are those who argue that there is a risk of practitioners and policymakers relying on pre-scientific ideas or ideologies not tested against the latest scientific insights. This book will not only help to improve communication between scientists and policymakers, but will also show how it is possible to strengthen the scientific base of economic policy and improve the social relevance of economic research and education.Trade Review'This book is the latest contribution to the "state of economics" literature. It approaches this through asking about the usefulness of academic economics for policymaking. This turns out to be a fruitful approach. . . these papers are useful - all offer much food for thought and are well worth reading. . . . the book is very readable, full of ideas, and well worth studying. Any student who is entering economics in the hope of contributing to debates over economics policy would be well advised to read it.'Table of ContentsContents: 1. Introduction: High Tech or Human Capital? Part I: Economic Role Models 2. Economists: First Semester, High Flyers and UFO’s (B. Frey and R. Eichenberger) 3. Users and Abusers of Economic Research (R. Portes) 4. Blood is Thicker than Water: Economists and the Tinbergen Legacy (H.P. van Dalen and A. Klamer) 5. Economists as Advocates: The Art of Making a Case (J.J.M. Theeuwes) Part II: Case Studies in Policy Analysis 6. Industrial Organization and Competition Policy: What are the Links? (A. Jacquemin) 7. Why Does Economics only help with Easy Problems? (T.C. Schelling) Part III: Economics and Society 8. The Proper Role of Theory (E. Malinvaud) 9. The Policymaker’s Demand for Economic Analysis (L. Ad Geelhoed) 10. Why Things are Different Index

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Book SynopsisImproving urban air quality has become a policy priority for the European Union, national governments and city authorities as more evidence comes to light of the harmful health effects of road traffic pollution. This book clearly illustrates how to work towards effective policies for improved urban air quality.The authors argue that designing and implementing successful policies is not just a matter of deciding on the most appropriate technological solutions. A process of institution building has to take place which works towards consensus among a variety of potentially divergent interests; from the police and highway authorities to business interests and citizens. Making use of policy network theory, this volume presents studies of attempts to build such coalitions, and the factors that have often frustrated them, in countries such as Canada, France, Italy and Switzerland. This book provides a major contribution to the theoretical and empirical understanding of the policies needed to combat road traffic pollution.The Politics of Improving Urban Air Quality will prove invaluable to scholars of environmental studies and public policy.Table of ContentsContents: Preface 1. Introduction 2. When Policy Networks Collide: The Institutional Dynamic of Air Pollution Policy-making in two Canadian Cities 3. ‘Soft’ Institutions for Hard Problems: Instituting Air Pollution Policies in Three Italian Regions 4. Improving Air Quality in Italian Cities: The Outcome of an Emergency Policy Style 5. Shifting Tools and Shifting Meanings in Urban Traffic Policy: The Case of Turin 6. Changing Definitions and Networks in Clean Air Policy in France 7. Lyon’s Urban Transportation Policy and the Air Quality Problem: A Policy Network Approach 8. Clean Air and Transport Policy in Switzerland: The Case of Berne 9. Conclusion: Institution Building for Sustainable Urban Mobility Policies Bibliography Index

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Book SynopsisPolicy Analysis and Public Choice is an important selection of articles written by William A. Niskanen over the last thirty years. The volume represents two quite different disciplines to which Niskanen has made a major contribution: policy analysis and public choice. It also includes his major essays on proprietary studies as well as many of his professional papers written for an academic audience.Part I details Niskanen's important contribution to policy analysis. The diverse topics discussed include: defence spending and resource allocation, trade policy, crime and drug policy, and welfare and the culture of poverty. Part II is concerned with public choice and political economy, in particular the liberal economic order, bureaucracy, democratic government and progressive taxation. The volume also includes an autobiographical summary focusing on the complementary nature of his work on policy analysis and public choice, and a number of commentaries that reflect Niskanen's unique professional background and perspective. Policy Analysis and Public Choice will be of special interest to those interested in public choice, public policy, political economy and political science.Trade Review'Niskanen's analysis is insightful and thought-provoking on all of the various topics covered.'Table of ContentsContents: 1. Personal Note: From Technocrat to Political Economist 2. An Irreverent Perspective on the Case for Federal Chartering of Corporations Part I. Policy Analysis 3. Crime, Police and Root Causes 4. The Defense Resource Allocation Process 5. More Defense Spending for Smaller Forces 6. The District of Columbia 7. Economists and Drug Policy 8. Student Performance and School District Size 9. Land Prices Substantially Underestimate the Value of Environmental Quality 10. Fiscal Effects on US Economic Growth 11. Political Guidance on Monetary Policy 12. Economists and Politicians 13. Reaganomics 14. Economic Regulation 15. US Trade Policy 16. The Determinants of US Capital Imports 17. Welfare and the Culture of Poverty 18. The President is Not our Leader Part II. Political Economy 19. Economic and Political Effects on the Popular Vote for the President 20. The Environmental Consequences of Majority Rule 21. Progressive Taxation and Democratic Government 22. Public Policy and the Political Process 23. The Pathology of Politics 24. The Opportunities for Political Entrepreneurship 25. Corporations and Other Large Organizations 26. Guidelines for Delineating the Private and the Government Sector 27. The Soft Infrastructure of a Market Economy 28. Conditions Affecting the Survival of Constitutional Rules 29. The Case for a New Fiscal Constitution 30. The Reflections of a Grump 31. The Moral Case for Bourgeois Democracy 32. The Prospect for Liberal Democracy 33. The Erosion of the Liberal Economic Order 34. Growing Up

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