Search results for ""edward elgar publishing ltd""

Innovation in Multinational Corporations in the Information Age investigates the production of information communication technology (ICT) through multinational corporations worldwide, and particularly in Europe. Questions relating to the management of corporate technological portfolio and the management of corporate research activity are addressed, and sectoral specialisation along with the geographical location of corporate technological development are analysed. The book imparts enlightening viewpoints on the changing boundaries of the international firm and the evolution of corporate learning in a more complex technological system. The increasing significance of regions as units of spatial competition is highlighted, and the analysis of ICT provides an insight into business strategy and policy making agendas.Providing useful insights into the dynamics of innovation at company level in an international context, this book will be of great interest to international, political, industrial and business economists and scholars.

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Market dominance - encompassing single firm dominance, overt and tacit collusion, mergers and vertical restraints - raises many complex analytical and policy issues, all of which continue to be the subject of theoretical research and policy reform. This second edition of a popular and comprehensive text extends the arguments and combines an analysis of the issues with a discussion of actual policy and case studies.This new edition addresses the recent fundamental changes in antitrust law, especially in the UK and the EU, and reviews some high profile and controversial cases such as the Boeing-McDonnell Douglas merger and the Microsoft monopoly. The author moves on to deal with several unresolved questions including the conflicts between trade and antitrust policy, the foreign take-over of domestic assets and extra-territorial claims made by certain countries.Market Dominance and Antitrust Policy will be of considerable value to students and scholars of economics, law and business, as well as researchers, policymakers and practitioners with an interest in competition policy and international trade.

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This book aims to further advance analysis on Negotiated Environmental Agreements (NEAs) in a multi-disciplinary and co-ordinated way. The authors advocate increased use of NEAs as policy instruments to deal with environmental problems.The book analyses, both theoretically and through the example of existing European agreements, the critical factors that can influence the performance of a negotiated environmental agreement. Negotiating Environmental Agreements in Europe contains 12 case studies analysing 12 different negotiated agreements in European countries. These are analysed comparatively in order to examine to what extent the different hypotheses postulated in the book are valid.Policymakers, environmental economists and researchers as well as NGOs and representatives of industries affected by NEAs will all find this book of immense interest and worth.

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The relationship between the shape of transportation networks and the optimal locations and allocations of human activities is examined in this unique volume.Simulations are performed on different toy-networks: several transportation networks are designed and their effects on location-allocation results are tested on different markets. Several optimal location models are used. The author then attempts to discover how the modelling results are affected by negative externalities or zone pricing policies. Finally, these results are applied to real-world situations, illustrating and confirming the results of the simulations performed on toy-networks.This volume will be considered as an interesting and original approach for location-modellers as well as planners. Transportation Networks and the Optimal Location of Human Activities will also appeal to geographers, spatial economists, location-allocation practitioners and transportation researchers.

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Questions related to the economics of regionalism became increasingly important beginning in the late 1980s, when regional groupings started to become very popular as a tool of commercial policy. The goal of this book is to address the question of whether or not regionalism in developed countries has truly benefited developing countries and to what degree regionalism among developing countries and between developed and developing countries will improve economic development prospects. Mordechai Kreinin and Michael Plummer consider the implications of the emerging global trend of economic regionalism for developing countries. The analysis focuses on the trade and investment effects of integration in developed countries on developing countries, as well as the ramifications of regional integration in the latter. After an extensive review of the theoretical and empirical literature pertinent to the economics of regionalism, the book considers the ex-post trade and direct-foreign-investment effects of the Single Market Program in Europe and NAFTA, followed by chapters on ASEAN and economic integration in Latin America, primarily MERCOSUR. The study suggests three salient conclusions. First, in designing preferential trading arrangements, developed countries should recognize and attempt to minimize the possible discriminating effect on developing countries. Second, the developing countries have an abiding interest in the success of WTO negotiations that would minimize the discrimination against them of regional groupings in Europe and North America. And third, any customs unions or free-trade areas among the developing countries themselves should be outward-looking if they are to enhance the welfare of developing countries.Economists and policy scholars, as well as readers interested in regionalism and economic development, will find this book a great resource.

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Since the mid 1990s, theoretical and empirical research on how social capital affects well-being has blossomed in the field of economic development. Based on noted theoretical and empirical work in other social sciences, this concept is now becoming a vital new tool for economists. The chapters in this volume explore the challenges and opportunities raised by this concept for researchers, practitioners and teachers. Social Capital and Economic Development is based upon a consistent, policy-based vision of how social capital affects well-being in developing countries. The book includes a comparison of experimental and empirical evidence on social capital and a range of field-based evidence, from environmental to cultural to nation-building and on how investment in social capital can improve well-being. The contributions are from leading development economists as well as non-economic social scientists with expertise in this field.Development academics, practitioners, and environmental economists will find this coherent volume of great interest, as well as those involved in public policy in the developing world.

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This volume contains a selection of John Dunning's best known and highly acclaimed writings on the theory of international business activity. Spanning more than three decades, the 16 contributions trace the evolution of his thoughts and ideas as an economist, from his first article on the determinants of international production, published in 1973, to his most recent essay on relational assets, networks and global business activity, completed in 2002.Theories and Paradigms of International Business Activity gives particular prominence to the author's much renowned eclectic paradigm, which he first promulgated at a Nobel Symposium on the international allocation of economic activity in 1976. Since then, the author has written over 60 articles, pamphlets and chapters in books which have extended, refined and updated his theorizing on the interface between trade, FDI and MNE activity, in the light of the changing characteristics of the world economy and advances in international business scholarship. This, the first of two volumes of John Dunning's work, is essential reading for all students, scholars and researchers with a special interest in the reasons behind the explosive growth in post-war FDI and the globalization of business activity.

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This three-volume set brings together a comprehensive selection of papers on development policy making and economic performance in the five major economies in South Asia - India, Pakistan, Bangladesh, Nepal and Sri Lanka - during the past half a century of the post colonial era. Volume I covers economic conditions at the time of independence, and broader patterns of economic development against the backdrop of policy transition from import-substitution strategy to economic restructuring through liberalisation, and the underlying political economy. The next two volumes are arranged thematically: Volume II covers agriculture and the rural economy, industrialisation and finance and development and Volume III deals with the external dimension of development, population dynamics and human resource development, and poverty and income distribution.The economic debates in South Asia, particularly in India, have been wide-ranging and intellectually stimulating, with active participation of a number of pioneers in development economics. The existing knowledge on a number of key issues, such as the role of development planning, foreign trade regimes and economic development, the political economy of rent-seeking, choice of technology, causes of famines, sex bias in poverty, and poverty and public policy, have been shaped significantly by the South Asian experience. This three-volume set will therefore be a valuable reference not only for the South Asian specialist but also for all students and practitioners in the field of economic development.

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In this book, leading experts in the field examine the effects of the recent growth in concentration in the European food retailing sector. In particular, the book develops a number of buyer power propositions and builds on the previous work of several of the authors, to consider how the growth of large supermarket chains affects competition in food retailing. The authors outline the theoretical and policy analysis underpinning the work and assess evidence on the size and growth of supermarket chains across the EU. Whilst not entirely critical, they suggest that there is strong evidence in some countries that supermarkets use their buying power to impose unfair terms and conditions on suppliers, particularly affecting small suppliers.The authors use case studies, to provide an in-depth analysis of four European countries, namely France, Germany, Spain and the UK. The book ends with a discussion of policy issues against a backdrop of likely future trends in concentration in this area.Academics working in the areas of microeconomics and industrial economics as well as those involved in European competition policy more generally, such as lawyers, civil servants and consultancy groups, will find this volume enlightening.

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This thought-provoking book discusses the concept of progress in economics and investigates whether any advance has been made in its different spheres of research. The authors look back at the history, successes and failures of their respective fields and thoroughly examine the notion of progress from an epistemological and methodological perspective. The idea of progress is particularly significant as the authors regard it as an essentially contested concept which can be defined in many ways - theoretically or empirically; locally or globally; or as encouraging or impeding the existence of other research traditions. The authors discuss the idea that for progress to make any sense there must be an accumulation of knowledge built up over time rather than the replacement of ideas by each successive generation. Accordingly, they are not concerned with estimating the price of progress, reminiscing in the past, or assessing what has been lost. Instead they apply the complex mechanisms and machinery of the discipline to sub-fields such as normative economics, monetary economics, trade and location theory, Austrian economics and classical economics to critically assess whether progress has been made in these areas of research.Bringing together authoritative and wide-ranging contributions by leading scholars, this book will challenge and engage those interested in philosophy, economic methodology and the history of economic thought. It will also appeal to economists in general who are interested in the advancement of their profession.

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Utilising a wide array of data and rich empirical evidence drawn from a large sample of industrial districts (IDs), Ivana Paniccia presents a realistic, state-of-the-art analysis of their socio-economic structure and performance. This extensive yet detailed study adopts a wide perspective, integrating historical evidence and different streams of literature - from industrial to regional economics - into testable hypotheses.The multidisciplinary, quantitative approach adopted by the author, enables her to 'de-structure' the 'canonical' idea of the ID and evaluate the normative value. Supported by multivariate and econometric analyses, she identifies four general types of ID each with different development paths, performances, inter-organizational relations, and regulatory rules and institutions. The results demonstrate that IDs on average achieve better static or dynamic economic performance than non-ID areas. The analysis also highlights critical points of rupture in the socio-economic equilibrium of IDs which may impair their future competitiveness and social sustainability. The author offers a critical appraisal of the organizational literature on IDs, claiming for caution in their depiction as 'cooperative systems' and goes on to present the first steps towards a 'microfoundation' of a theory on IDs.Providing the methodology to monitor the performance and evolution of IDs, together with precise policy suggestions, this book will appeal to a broad range of scholars and researchers in a variety of disciplines including regional, industrial and institutional economics, organizational studies and industrial sociology.

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A great deal has been written on the theoretical aspects of copyright and the cultural industries but much less on the applied side - how copyright law works in practice. How do lawyers, firms and artists manage and administer copyright and what economic and legal problems does this raise? In recent times in particular, technological inventions appear to have outpaced the development of copyright law. This illuminating book addresses these issues and looks at the serious implications for copyright policy in the future.Several of the authors question the efficacy of copyright, which is increasingly regarded as benefiting multinational organisations rather than individual authors and performers. Others are less critical of copyright per se, but question its ability to meet the new challenges of a digital era. Some of the specific issues covered include: law and international transactions of copyrighted material economic analysis of copyright and freedom of expression music licensing in the digital age the role of copyright in stimulating cultural development internet distribution of copyright material the problems of licensing museum images. International in scope and offering views from both academics and practitioners, this book will interest and inform economists, lawyers and policymakers alike. Commercial managers and business analysts involved with copyright would also benefit from reading this comprehensive yet accessible book.

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Currently developed countries pay much more attention to harmfully addictive substances than developing countries. However, the experience of developed countries is very relevant to the developing world since substance abuse is likely to impose a continually increasing burden of disease in this region in the near future. This book extends the frontiers of research on the economics of substance use and abuse in a variety of extremely significant ways. It focuses on the determinants and consequences of the consumption of cigarettes, alcohol, betel quid, and illicit drugs in the United States, Great Britain and Taiwan. The authors use a variety of empirical techniques to examine the roles of price, advertising, risk perception, time preference and forward-looking behaviour in consumption decisions and the effects of these decisions on labour market outcomes, unintended pregnancies and criminal violence.Economic Analysis of Substance Use and Abuse will be required reading for scholars of economic development and health economics.

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In the light of the Malaysian experience during the Asian financial crisis, this book examines the role of international capital mobility in making countries susceptible to financial crises and the use of capital controls as a crisis management tool. Malaysia provides an interesting case study of this subject given its significant capital market liberalisation prior to the onset of the crisis, and its fundamental shift in crisis management policy in September 1998.The prime focus of the book is on Malaysia's radical policy decision to pursue an independent recovery path, cut off from world markets by a system of capital control, as a viable alternative to the conventional market centred approach. The analysis suggests that, against the initial dire predictions of many economists, the capital controls have actually played a crucial supportive role in crisis management. Whether the controls have played a special role in delivering a superior recovery outcome in Malaysia compared to IMF-program countries remains a point of contention. However, there is strong evidence to suggest that this pragmatic policy choice was instrumental in achieving recovery, while minimising potential economic disruption and related social costs.The book provides an integrated view of the modalities and working of the capital-control based recovery package in the context of a comprehensive survey of macroeconomic management in Malaysia and from a comparative East Asian perspective. It will prove to be of great value to development macroeconomists, monetary and financial economists and students of Malaysian and East Asian development.

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This book provides one of the first interdisciplinary reviews of the relationship between services, globalisation and trade liberalisation as we enter the twenty-first century. Written by academics and policymakers, it contains a detailed analysis of the characteristics of service trade and of recent and current service trade negotiations. The authors focus on exploring the complex relationship between the process of globalisation and the globalisation of services taking into consideration service trade negotiations. Many service functions reduce the relative distance between places and more importantly enable the process of globalisation. The globalisation of service functions is complex. Services are different from goods as they depend on human capital (embodied knowledge and reputations) and have to be localized to meet specific cultural and political requirements. The General Agreement on Trade in Services (GATS) needs to be informed by an understanding of the differences that exist between goods and services as well as by the processes by which services globalise. The GATS has to be more than just about quantitative-based policies but also has to explore national regulations that inhibit trade in services. This book will be of special interest to economists, geographers and policymakers with a specific involvement in service trade and trade liberalization.

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The provision of water and sanitation services (WSS) in developing countries has traditionally been the preserve of the state, but recently there has been a move towards greater private sector participation (PSP).While the potential economic benefits of PSP are well-known, the authors extensively discuss the environmental and social implications unique to the sector. The focus of the book is on the crucial role public authorities must continue to play to guarantee sustainability, levels of service and access to a variety of consumers. The authors show how these objectives are realised in very different ways - and not always successfully - in developing countries. The authors critically review the current literature and include new case studies from Manila, Buenos Aires, Cordoba, Abidjan and Mexico City. Private Firms and Public Water will be of interest to regulatory officials, economists, development professionals and scholars, as well as government, business and NGOs.

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In twenty years of reform in China, the key development has been the opening-up of the market to foreign trade and international investment. This increased economic openness has been accompanied by profound changes in both economic organisation and regional disparity. This comprehensive book focuses on the link between these economic reforms and the causes - and ultimately the implications - of regional inequalities in the most populous country in the world.The authors examine the effect of globalisation on regional disparities in terms of income, regional growth, industrial location, urban-rural opposition, performance of the firm, human capital and mortality. In each case they provide new insights into the main changes in the Chinese economy and give original explanations as to the sources of regional diversity. The authors find that on the whole, regional disparities in China have tended to increase since reforms were introduced. They illustrate that this rise of inequality, in terms of both growth and income, results from the aptitudes of different regions to seize the new opportunities afforded to them by market developments. They also demonstrate how current regional disparities and increased competition will go hand in hand with a polarisation of industrial development in a few privileged regions. In the wake of China's accession to the WTO, this timely book offers a unique perspective on what is surely one of the biggest economic issues the global economy will face in the coming years. China and its Regions will be essential reading for all students and scholars of business, industrial development and Asian studies.

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Kenneth Arrow and Gerard Debreu have throughout their careers continuously produced ideas at the very frontier of economics. Together, they have made unparalleled contributions on the properties of general equilibrium systems in economics, the study of collective choice and welfare economics. The editors have shown their usual rigor in selecting those papers which, in their view, have made the most important contributions in their particular areas of expertise. This volume will be an essential source of reference for students, researchers and practitioners alike.

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Competitiveness is one of the key themes in the current debate about national economic performance. A vast array of statistical data is usually assembled by national governments to demonstrate a closing or widening of productivity or trade 'gaps' with other countries or groups of countries. The authors of this book argue that far too little attention has been paid to the often subtle, but highly significant, organisational and cultural characteristics which underpin production and trade in a globalised economy. Dimensions of Competitiveness suggests that awareness of the impacts of this neglected dimension of competitiveness can, together with appropriate corrective action, significantly improve corporate and national performance.While considering a variety of more conventional dimensions of international competitiveness, the authors challenge many established tenets. A number of policy prescriptions are outlined as a result. Attention is also paid to some of the key distributive and infrastructural roles in enhancing international competitiveness including facilitating labour and capital mobility and providing efficient transport systems.

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This timely book provides an authoritative analysis of the pension reform process in nine countries, namely Australia, Canada, France, Germany, Italy, the Netherlands, New Zealand, the UK and USA, with Japan being covered in the introduction by the editors. The book draws on the work of experts from each of these countries to provide a picture of how the pension systems work in each country.The contributors examine the policy reform process in each country, against the background of the fiscal stresses arising from the ageing populations in OECD countries. They also analyse whether different types of pension delivery systems (e.g. the public-private mix) generate different standards of living. Each study is prepared according to a common template allowing meaningful analysis of pension delivery and outcomes across countries using similar macroeconomic statistics and microdata. Pension Systems and Retirement Incomes across OECD Countries is an extremely valuable and empirically sound book on a highly topical subject. It will appeal to scholars of economics, public policy, political science and finance as well as being of great interest to policymakers and practitioners involved in pension fund management.

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This authoritative new collection gathers together the issues important to the understanding of the challenges and problems of modern rail transport.Part I includes articles on costs and productivity, part II discusses pricing and part III looks at regulation and privatisation. Part IV examines econometric rail demand models. Part V focuses on disaggregate choice modelling and part VI covers investment.The editors have included not only classic papers by Griliches, Keeler and Caves et al on cost functions, Baumol on pricing and regulation and Foster and Beesley on investment, but also lesser known papers which pioneer up to date methods. Together these form a valuable collection of previously published articles which will be of interest to researchers and policy analysts in the industry and to academics and students specialising in rail transport policy and economics.

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Education and Earnings in Europe is based on a two year pan-European research programme and presents an in-depth analysis of the returns to education in Europe.The book begins with a critical review of the literature which compares and contrasts the issues involved in the estimation of these returns. A central message of this review, based on the extensive use of cross country comparisons, is that the estimated return to education can vary depending on the precise methodology and data specification used. This review is followed by 15 country specific chapters which present the structure of the educational system, estimates of the returns to education and extensions to the basic model of each country. The chapters follow a consistent format and style to allow for ease of comparison between the countries discussed.

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For individual actors involved in economic activities (i.e. production, exchanges), conventions and structures represent two different types of opportunity or constraint. Conventions refer to values, rules and representations that influence economic behaviour. Structures refer to patterns of resource interdependencies existing among members of any social system. This book contributes to the current rapprochement between economics and sociology. It examines the fact that individuals use rules and interdependencies to forward their own interests, while living in social environments where everyone does the same. The authors argue that to construct durable organizations and viable markets, they need to be able to handle both. However, thus far, economists and sociologists have not been able to reconcile the relationship between these two types of constraints on economic activity. Conventions and Structures in Economic Organization seeks to bridge this gap and will appeal to students and scholars in both economics and sociology, offering them new ideas about how they can co-operate in unsuspected ways and combine their interdisciplinary efforts.

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Water Resources and Climate Change presents an authoritative collection of key articles which explore the impact and effect of climatic change on all aspects of the hydrologic cycle.The articles selected focus upon the hydrological implications of climate change and its potential impact on water systems and water use, issues in climate impact assessment, planning and adaptation strategies and socioeconomic assessments of particular case studies.This important volume will be an essential source of reference for water managers and planners as well as those interested in understanding the hydrological, ecological, and socioeconomic implications of climate change.

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The Economics of Industrial Water Use presents an authoritative collection of the most important articles to have applied economic models and measurement techniques to the topic of industrial water use over the last thirty years. It includes an original introductory chapter which summarizes and critically assesses the literature on this important subject.These papers employ a range of modelling approaches including econometric estimation, linear programming, input-output models, non-market valuation and integrated river basin planning models. They also provide empirical evidence of the significant role played by economic forces in determining industrial water intake, discharge and recirculation.This comprehensive volume will be an indispensable reference source for those with an interest in water's role in industrial applications.

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Ronald Dore's enquiring mind, rigorous reasoning and comparative methodology have greatly enhanced our understanding of Japan. His insights from Japan have been deployed to generate fresh perspectives on Britain and other industrialized and developing countries. This careful selection of writings reflects his underlying concern with what light the study of Japan sheds on theoretical generalizations about how societies evolve and how economies work. Social Evolution, Economic Development and Culture brings together Ronald Dore's key writings for the first time, making his work accessible across a wide range of social science disciplines. It produces a distinctive perspective with four interlinking themes - technology-driven social evolution, late development, culture and polemics. These are highly topical in the current context of rapid technological innovation and socio-economic change, globalization and accompanying policy choices.The book provides a rich empirical and conceptual source for those interested in technology, socio-economic evolution and culture, and the ways in which they interact. Researchers, teachers and students in the fields of evolutionary economics, economic development, comparative education, institutional economics, political economy and economic and classical sociology (as well as Japanese studies) will find this volume invaluable reading.

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This timely book investigates the importance of national culture as it applies to the strategic management of multinationals. The author focuses on backward linkage strategies within US, Japanese, Taiwanese and Korean microcomputer multinationals investing in Europe. In particular, both market-driven and resource-driven strategic orientations are depicted in new and established firms.The main premise of the book is concerned with the backward linkage strategy of US and Asian Pacific firms, and is therefore based on a specific set of relevant core cultural values rather than a universal set of values. The material in this volume is derived from directly and indirectly collected data, and in addition, unstructured face-to-face interviews with representatives from multinational firms headquartered across different cultures.This volume will provide academics, researchers, students, business consultants and strategists a new perspective on business strategy as well as an up-to-date source of industry material.

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The Status of Women in Classical Economic Thought is the first volume to explore how the classical economists explained the status of women in society. As the essays show, the focus of the classical school was not nearly as limited to the activities of men as conventional wisdom has supposed. The contributors explore their insights and how they illuminate contemporary economic debates regarding women's status.The classical school specified a number of fundamental research themes which have since dominated how economists approach this topic. A sophisticated response was developed to the question: why is it that in all human societies women have suffered a lower status than that enjoyed by men? Those who theorized on the question are covered here and include: Poulain de la Barre, John Locke, Montesquieu, Adam Smith, Nicolas and Sophie de Condorcet, Jeremy Bentham, Priscilla Wakefield, Jean-Baptiste Say, Nassau Senior, John Stuart Mill and Harriet Taylor Mill, Harriet Martineau, William Thompson and Anna Wheeler.Economists interested in the history of their discipline as well as women's studies scholars from history, philosophy and politics will find this an enlightening volume. Non-technical in nature, it will also appeal to anyone interested in how economists have explained the economic and social status of women.

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The 'third way' is a term often used by politicians and others to indicate a set of new policies adopted by former social democratic parties throughout the world. This book is an attempt to dissect the ideas and economic theory behind the rhetoric of the 'third way' through a critical evaluation of the experiences of 'third way' administrations in a diverse range of countries.The editors suggest seven elements which can help define the theoretical economic foundations of 'third way' policies. They consider whether there is a consistent economic approach underlying the 'third way', and show that it is much influenced by New Keynesian economics. The contributors to the book explore the policy experiences from ten different countries, plus the European Union as a whole. Each contribution provides an examination of the application and implementation of 'third way' policies in a different country. These contributions indicate the similarities of the policies of the 'third way', though important differences in experience also emerge. Providing an acute assessment and comprehensive interpretation of the 'third way', whilst neither endorsing nor dismissing its validity, this book should be widely read by policymakers, political scientists, and those with an interest in economic policy and economic analysis.

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What makes the US different from other advanced economies is the opportunity for newcomers acting as entrepreneurs to start new companies, a few of which will then change the world. This book develops three points. First, the New Economy is real: part micro, part macro, and all digital. Second, its emergence around networked PCs propelled the US resurgence in the world economy during the 1990s. Third, rather than subsiding, the current US lead in information technology (IT) could well increase over the next decade. The reason lies in the clustered linking of venture capital and entrepreneurs in a system that can be stylized as 'the invention of the method of innovation'. The central theme of the book is the vital role played by newcomers, acting as entrepreneurs, to overthrow the old order and blast through the deep tendencies toward stagnation that afflict advanced, affluent economies. Related strands are (1) an update and reappraisal of Joseph Schumpeter's vision of capitalist development, (2) a regional focus on the rebirth of US computing, and (3) a detailed inquiry into the geography of innovation in strategic clusters of venture capital firms and IT knowledge workers. The author provides a sharply etched portrayal of the geography of the new economy. He lists specific case studies of the failure of established managerial corporations to capitalize on inventions, a failure remedied by newcomers. The book recounts traditional and new theories of the entrepreneur and of creative destruction. Primers on venture capital, IPOs, and internet business models are included, as are comparisons of theory and data on the emergence of new 'strategic cities'. Lastly, it offers a brief, readable, detailed, and company-specific history of the PC revolution and the coming of the internet.Economists, geographers, and regional scientists, students and readers interested in the digital economy, the internet, the history of economic thought, and the New Economy and investors will all find this book revealing and enlightening.

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Intelligent Transportation Systems (ITS) are expected to add considerable productivity to existing transportation infrastructure and to therefore partially reduce the need for more physical infrastructure such as additional lanes of roadway. But there are huge barriers to achieving this vision ranging from the technical to the institutional. In this book a new outcome oriented methodology is developed and applied to a diverse set of ITS case studies in an effort to gain insight into the barriers to deployment. The case studies, most from the National Capital Region (Washington) in the US, include but are not limited to evaluation of electronic tolling, truck roll over warning systems, Advanced Traffic Information Systems (ATIS), variable message signs (VMS), ITS enhanced emergency management systems and ITS bridge operations. The evaluation methodology bears similarity to the benefit/cost balance sheet approach. Full cost (benefit) assessment is adopted with multiple externalities (environment, economic development, social equity issues, etc.) formally included in each of the individual evaluations. Transportation policymakers as well as scholars and students of economic, public policy and political science will find this study useful and informative.

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Despite their common emphasis upon uncertainty as a key economic variable, Frank Knight and John Maynard Keynes viewed its role from different ethical perspectives. These attitudes were derived from contrasting formative influences and differing views regarding the role of economic theory as applied to the real world.William Greer reveals that the intellectual atmosphere into which Keynes was born led him to consider individual and collective action positively, enabling policymakers to take purposeful, deliberate action, in the face of an uncertain, non-ergodic future. The conservative, theological era from which Knight emerged left him accepting of a predetermined, ergodic world in which the government should assume a minimal role in ensuring the smooth operation of a system of otherwise free markets.Ethics and Uncertainty explores how two economists, who both placed 'uncertainty' at the heart of their economic theories, come to drastically different and opposing policy recommendations. The volume illustrates that the important lesson to learn from both Knight and Keynes is that ethics and the desire to improve mankind should be the focus of economic enquiry.This fascinating volume will be essential reading for followers of Keynes and Knight. The book will also be welcomed by scholars in the field of economic thought, and those interested in the development of modern macroeconomics and microeconomics.

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Cost-benefit analysis is a key component in the evaluation of economic development strategies. In this new, updated version of his earlier book, Project Appraisal for Developing Countries, Robert Brent provides a comprehensive and accessible introduction to recent developments in project appraisal. Cost-Benefit Analysis for Developing Countries interprets, expands and evaluates the principles of project appraisal using the approach recommended by the World Bank. Robert Brent challenges a number of their findings, particularly through the inclusion of the 'numbers effect', the number of people affected by a development project, as a separate social objective. The book is based on a combination of sound economic theory and extensive empirical research, and case studies are used throughout to illustrate the theory. The author analyses, from an applied perspective, the most recent developments in project appraisal. He discusses key issues such as: structural adjustment lending investment criteria the basic needs approach shadow and market prices the social discount rate risk analysis. Cost-Benefit Analysis for Developing Countries will be essential reading for students with an interest in development economics, development studies, public policy and comparative economic systems as well as policymakers and practitioners in international organisations and developing countries.

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The literature on the character, determinants and relative performance of the leading industrial economies has developed rapidly of late. However many of the most important pieces of writing are now slipping from view because they were originally published in different, often inaccessible and highly specialised academic journals. These three volumes bring together those key articles and provide a new introductory commentary on the literature.This authoritative collection provides the reader with easy access to the full range of arguments now being developed to explain why some forms of economic organisation prospered best in the immediate past, and why some models now seem more effective than others in responding to the new global conditions of intensified international competition and rapid capital mobility. These volumes will be an indispensable reference source for students and researchers specialising in modern capitalism.

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This authoritative collection explores Piero Sraffa's contributions to economics. The volumes cover the discussions around Sraffa's criticism of the Marshallian partial equilibrium method; his attack on Hayek's monetary overinvestment theory of the business cycle; his edition of Ricardo's works and correspondence and his clarification of the analytical structure of the classical theory of value and distribution; his reformulation of the classical theory; and the role of his work in the debates about the theory of capital and income distribution.

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Applied welfare economics proceeds from the assumption that preferences are fixed and independent of social context. Social psychologists and anthropologists, in contrast, interpret preferences as being strongly shaped by culture and the prevailing social norms. This viewpoint is supported by a wealth of evidence from ethnographies, social surveys, and experimental studies.Integrating theory and evidence from a range of social sciences, the authors argue that the satisfaction derived from material goods depends upon their symbolic meaning, as people use goods to reinforce a positive social identity. They further contend that this calls for the incorporation of status preferences in economic models. The book finds that concerns over social status may lead decision makers to significantly overvalue consumption and undervalue the natural environment. In addition, income and consumption taxes that are normally regarded as 'distortionary' may be necessary to address the social costs of status signalling. Based on the available evidence, the authors argue that failing to account for status preferences can lead to flawed policy prescriptions in debates over optimal taxation, the economics of climate change and Environmental Kuznets Curves. To address this bias, the book offers a tractable, operational, and theoretically grounded approach to the economics of social status. Students and scholars of ecological, environmental and resource economics will find Status, Growth and the Environment to be a highly original and fascinating read. It will also be of great relevance to anyone with an interest in applied welfare economics.

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Entrepreneurial Competition and Industrial Location explores the notion of entrepreneurial competition from its theoretical foundations in early Austrian and contemporary evolutionary economics. Focusing on the structural development of the intangible factors of production such as labour skills, advertising and research and development, the book's empirical implications are tested in a comparative study of competitive performance in the EU, Japan and the USA. Typical mechanisms of external spillovers, shaping industrial location by means of Marshallian cluster formation, highlight the dimension of industrial location. Peneder finally employs the three evolutionary principles of variation, cumulation and selection to establish entrepreneurship, learning and fair markets as the main pillars of modern competitiveness policy. This volume paves the way for a better understanding of the market process, demonstrating the importance of intangible factors as sources of competitive advantage both by conclusive theoretical argument and careful empirical investigation.

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Which kinds of growth lead to increased employment and which do not? This is one of the questions that this important volume attempts to answer. The book explores the complex relationships between innovation, growth and employment that are vital for both research into, and policy for, the creation of jobs.Politicians claiming that more rapid growth would remedy unemployment do not usually specify what kind of growth is meant. Is it, for example, economic (GDP) or productivity growth? Growing concern over 'jobless growth' requires both policymakers and researchers to make such distinctions, and to clarify their employment implications.The authors initially address their theoretical approach to, and conceptualization of, innovation and employment, where the distinction between process and product innovations and between high-tech and low-tech goods and services are central. They go on to address the relationship between innovation and employment, using empirical material to analyse the effects that different kinds of innovations have upon job creation and destruction. Finally, the volume summarizes the findings and addresses conclusions as well as policy implications.This book will be of great interest to those involved in research and policy in the fields of macroeconomics (economic growth and employment), industrial economics and innovation.

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Concerns about European prospects for competitiveness, jobs and growth are high on the European Union agenda and regulatory reform, both at national and EU levels, is widely recognised as a crucial tool for improving the performance of European companies. Despite the single market, selective sectoral regulatory reform and certain reforms at the national level, regulation in Europe still tends to discourage new entrants, impede new production methods and inhibit the exit of existing competitors. It often increases costs without providing compensatory benefits, reduces operational flexibility and distorts capital expenditure, creating obstacles to innovation. The authors in this book argue that regulatory reform can, more often than not, help improve the competitiveness of companies while generating net growth effects for the European Union as a whole.In this book, the authors discuss the horizontal issues involved in regulatory reform. Following an extended introduction by the editors, two general chapters address regulation and growth, and the regulatory burdens and failures in Europe. Other chapters deal with national competition policy, state aid, EU environmental policy, reforms in product markets, labour market reforms, the regulatory environment of small and new firms, and the current, insufficient EU reforms to improve regulatory quality. Throughout the book the authors aim to demonstrate how the market can function more efficiently and offer policy recommendations to show how regulatory reform can improve competitiveness at the firm level as well as performance at the industry, national and EU levels.

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This insightful book examines the necessary conditions for the successful initiation and consolidation of unpopular economic reforms. Drawing on the burgeoning literature in the area of policy reform, it features a comparative analysis of fiscal reform in Hungary, Poland and the Czech Republic at different stages of the post-communist transformation. This analysis demonstrates that a significant number of the national differences in fiscal reform can be attributed to differences in political constraints. It also reveals that these very constraints change in the course of transformation and have become increasingly similar to the 'standard' restrictions which exist in the traditional EU and OECD countries.This in-depth analysis of the changing role of political determinants in post-communist fiscal reform will strongly appeal to economists and political scientists interested in the political economy of policy reform, post-communist economic transformation and the role of international organizations (IMF, EU) in shaping domestic policy-making. Policy analysts interested in fiscal reform in Hungary, Poland and the Czech Republic will also find much to interest them in this book.

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This is a unique, comprehensive and international history of the post Keynesian approach to economics since 1936. The author locates the origins of post Keynesian economics in the conflicting initial interpretations of Keynes's General Theory and in the complementary work of Michal Kalecki. The book begins by focusing on Cambridge Growth, Distribution and Capital theory and early post Keynesian thought in the US. The failure of post Keynesian theory to supplant the neo-classical paradigm in the 1970s is also discussed, along with an overview of post Keynesian thinking in other countries. The book then deals with the search for coherence between various strands of post Keynesian thought and other schools of economic thought. The author concludes by assessing the progress made by post Keynesian economics since 1936 and considers several possible alternative futures for the post Keynesians.Historians of economic thought as well as post Keynesian and other heterodox economists will warmly welcome A History of Post Keynesian Economics.

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The 1964 Kennedy-Johnson tax cut is often cited as the single most successful application of Keynesian stabilization policy. The author challenges this orthodox historical view by exposing the haphazard planning, simplistic economic theorizing, irreconcilable numerical projections, and partisan political influences on the Council of Economic Advisers. The focus of the book is on the decisions, advice and actions of the three Chairmen of the Council during the 1960s: Walter Heller, Gardner Ackley and Arthur Okun. They were the authors of the ambitious and optimistic new economics that attempted to manipulate aggregate demand in the US economy to reach potential output. By 1965 this goal was achieved, but when Vietnam War spending and Great Society programs were added to the tax cut, the subsequent policy paralysis in the face of a surging economy clearly indicated a lack of symmetry in fiscal policy implementation. Much of the evidence for this revisionist view comes from the participants own statements in the form of White House memoranda and confidential reports as well as from counter-factual exercises that allow alternative policies or swifter responses.This book will be of great interest to macroeconomists as well as to scholars and students interested in economic history and in the formulation and implementation of economic policy.

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Ludwig von Mises is not the most well-known classical liberal political economist of the twentieth century. He has remained relatively obscure because both methodologically and ideologically his thinking went against the prevailing mood and on a personal level he was more difficult to approach than other thinkers of his time. However, among those in the know, he is considered to be the architect of Austrian economic thought, the most ardent defender of classical liberalism in the last century and history's strongest critic of socialism.This new collection of previously published writings has three main aims: to introduce the reader to von Mises and the core of his ideas; to provide a number of essays which project the Misesian spirit, contribute to Mises's system and suggest areas for future research based on his insight and thought; and to establish an interest in Mises's ideas among those not already familiar with them.This pathbreaking book seeks to be the definitive collection documenting the intellectual legacy of Ludwig von Mises in modern political economy. Its intended readership is scholars in the history of political economy and in particular those interested in the Austrian school of economics.

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The East Asian crisis has sparked debate regarding the future of emerging markets and the globalization of world capital markets. This book, with contributions by leading economists and political scientists, provides an up-to-date assessment of the causes and consequences of the crisis and the policy lessons drawn from it. In contrast to much of the existing literature, the volume presents the view that the crisis and its aftermath were not simply the result of purely economic and financial phenomena but also the reflection of some fundamental institutional, historical and political forces. The collection begins with a comparative and historical analysis of the crisis, placing it in the context of other financial and debt crises. This is followed by a discussion of the domestic, political and economic factors behind the events, delineating the differences and similarities among affected countries. The contributors also examine how global political forces influenced the unfolding crisis in various countries. Using the latest data, top experts present the current economic situation in East Asia, the contagion effects in the rest of the world, and the role played by international institutions such as the IMF. Finally, the volume provides a roundtable debate on the policy alternatives confronting emerging markets and the world monetary system in the aftermath of the crisis.Students, professional economists in academia and the private sector, scholars and students in finance, Asian studies specialists, and political scientists will all find this collection insightful and informative.

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Recent changes in the world economy have made the pursuit of entrepreneurial opportunity increasingly important to wealth creation. Moreover, as business schools worldwide have embraced the study of entrepreneurship, a conceptual framework for the field is beginning to emerge. This book examines the discovery, evaluation, and exploitation of opportunities to create future goods and services. It also evaluates the impact of entrepreneurial activity on individuals, firms and society at large.It will be an essential reference for students, researchers and professionals who are interested in this increasingly important field of study.

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Innovation as an activity is not new - what has changed is the pace at which firms have to innovate. This book analyses innovation success at the company, rather than the project, level and contributes to the development of a new theory on innovation management in small and medium-sized enterprises. The author uses studies from 63 companies from 35 different industry and service sectors in order to obtain non-sector specific findings. He concludes that innovative success is based on a combination of technological, marketing and organizational competencies and that successfully innovating companies can be said to have a strong internal locus of control.

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Banking Reforms in South-East Europe gives a critical and detailed overview of banking system restructuring in the transitional countries of South-Eastern Europe - Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Macedonia, Romania and Yugoslavia - and offers suggestions for future reforms. The book opens with a comparison of the experiences of Central European advanced transitional economies with those of the Balkan countries. Proposals are put forward for ways in which positive aspects of the Central European experience can be applied to banking reform in the Balkans. The authors examine the importance of regional collaboration for the overall economic and social transition in the region, and consider whether it can facilitate the next stage of banking reform. They also analyse the results of currency board arrangements as a possible alternative to classical central banking, using the experiences of Bulgaria, Bosnia and the Yugoslav Republic of Montenegro. The book concludes with an analysis of the experience of individual economies and consists of a number of country-specific banking studies, covering all the transitional economies of South-East Europe.The book will be of great interest to both scholars of transition economies and policymakers in finance and financial institutions.

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The use of dynamic models to address the problem of environmental degradation is central to environmental policy because decisions taken now affect not only the current generation but have a profound impact on the future. In this innovative book, Frank Hettich uses dynamic modelling to study the interactions between economic growth, environmental policy and tax reform. He incorporates pollution and abatement technologies into different endogenous growth models that take into account consumer preferences and physical and human capital accumulation. He focuses on the effects of environmental policy in closed and open economies in the short, medium and long term.He sheds light on the following questions: what kind of environmental policy can reverse tendencies towards increasing pollution? will tighter environmental policy inevitably reduce economic growth? does environmental taxation provide an efficient source of revenue for governments? how will higher preferences for a clean environment affect optimal growth rates? what are the effects of international cooperation on growth, welfare and pollution? does sustainable environmental development necessarily preclude economic growth? This book will interest all students and scholars of environmental economics and particularly those interested in the relationship between economic growth and environmental quality.

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