Search results for ""edward elgar publishing""

The prospect of simultaneously achieving a 'greener' environment, increased tax revenues and lower levels of unemployment has made ecological taxes an increasingly popular proposition. This volume examines the possibility of ecological tax reform in the Nordic countries of Denmark, Norway and Sweden. The potential for ecological tax reform is investigated on a theoretical and an empirical level. The social costs associated with environmental taxes are analysed and the impacts of a Swedish carbon tax are calculated by means of a static numerical model. Taxes on carbon, nitrogen and fertilisers are also examined. The authors find that the level of unemployment cannot be decreased by revenue neutral environmental taxes without any social costs and conclude that there are no easy ways to achieve full employment, a budget surplus and environmental sustainability. They conclude that further understanding of the functioning of the labour market, household decisions and the link between change in pollutant emissions and environmental damage is needed in order to make more concrete suggestions concerning ecological tax reforms.Green Taxes will be of immense use to academics and practitioners in the field of environmental economics.

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This book provides new insights into the performance of key economies in the Asia-Pacific region during the last three decades. It critically examines productivity growth, factor accumulation and economic efficiency at both the macro and micro levels.The authors use a variety of empirical techniques to measure the sources of economic growth in Hong Kong, Singapore, Taiwan, Korea, Japan, Malaysia, Thailand and China. The techniques employed range from traditional growth accounting to econometric frontier estimation and data envelopment analysis. As a comparison to the Asia-Pacific region, the growth experiences of G7 and 18 OECD countries are analyzed. The authors consider, among other issues, the influential role of trade in the region, macroeconomic management, income, capital, labor productivity, technology and investment. This innovative new book will be of interest to students and scholars of growth economics, public policy and Asian studies.

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This innovative book sheds new light on the various transfer processes of economic knowledge from the academic environment to the outside world. The internationally acclaimed group of authors considers the transfer of knowledge in the teaching of economics, through public policy advice, and the spread of ideas across disciplinary boundaries.The economics profession is mainly concerned with the production of economic knowledge rather than the transfer of this knowledge outside the academic economics environment. The process of the production of knowledge and its final use has not been thoroughly investigated, and so relatively little is known about how this knowledge benefits public policy, private sector decisionmaking and the transfer of ideas across the social sciences. The leading contributors, including James M. Buchanan, Bob Coates, Bruno S. Frey, Heinz Konig, Anne Krueger and Charles Wyplosz, examine the transfer of knowledge from an interdisciplinary perspective addressing psychological, sociological and cultural issues. They also look at the theoretical analysis of the transfer of economic knowledge, focusing on public choice and political economy interpretations of economic policy advice, as well as institutional and management issues of policy advice. Finally they consider the challenges of teaching economics and explore the possibility of applying the new media for transferring economic knowledge.

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In Not Just for the Money Professor Frey challenges traditional economic theory and argues that people do not act in expectation of monetary gain alone, nor do they work solely because they are paid. Furthermore, the author claims that higher monetary compensation as well as regulations crowd-out motivation in important circumstances. Offering higher pay may make people less committed to their work and may reduce their performance. They thus behave in exactly the opposite way the fundamental price-effect of economics predicts.The first part of the book considers the Crowding-Out Effect and the Motivational Spill-Over Effect. The second part explores a large number of applications to constitutional questions, various policy issues and the organization of firms. The final part discusses the substantial consequences for policy making and economic theory.This path breaking book is bound to create controversy and debate. It will appeal not only to economists but to a wide range of social scientists who want to go beyond the traditional assumption of economic man.

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This major annual publication is an authoritative state-of-the-art survey of current issues in environmental and resource economics written by the leading academics in the field.The discipline of environmental and resource economics has undergone a rapid evolution over the past three decades with the early literature focusing mainly on valuation and the design of policy instruments to correct externalities and encourage optimal resource exploitation. In the past few years, the field has broadened its scope by making numerous links with other disciplines in economics as well as the natural and physical sciences. As a result there has been an explosion in the literature which has made it increasingly difficult to keep up with developments in the field.The aim of the Yearbook is to provide economists working in environmental and resource economics, as well as those who are interested in knowing more about the field, with a comprehensive overview of the main issues written by the leading international scholars.

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This major new reference book provides an authoritative and thorough analysis of the political changes which have occurred in Eastern Europe since the demise of communism. It offers an historical, comparative perspective of the region and focuses on the social consequences of the transition, historical legacies, and variations between countries in the sequences of the changes. This comprehensive handbook includes detailed examinations of elections, the formation of governments, electoral systems, and constitutional arrangements. It features country case studies on Estonia, Latvia, Lithuania, Poland, the Czech and Slovak Republics, Hungary, Slovenia, Romania, and Bulgaria. These are supplemented by several chapters drawing conclusions on the transition to democracy in the region as a whole, and the consolidation of democracy in a post-communist setting.The Handbook of Political Change in Eastern Europe provides a state-of-the art companion which will be indispensable for students and scholars in the social sciences including transitional economics, comparative economic systems and political science, as well as for policymakers and practitioners.

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This timely book examines the effects of financial liberalization in the more advanced economies of Southeast Asia. The book also analyses the degree to which emerging and transitional economies in East and South Asia can benefit from this example. The weakness of the banking sector is examined in order to explain the reasons behind the currency crisis and to prescribe policies to avoid a similar episode in the future.Further, the book documents the individual steps taken to liberalize the economies over a period of about 20-30 years in each country. The analyses reveal that liberalization led to high growth in economies undertaking such reforms while unwillingness to take such reforms appear to have led to poor growth and hence low social development. This finding contradicts the common belief that liberalization led to the financial crisis and then to growth collapse.An efficient and liberalized financial sector is an essential precondition for promoting and accelerating economic growth and welfare. Arguments supporting this policy are based on the experience of Southeast Asian economies, particularly the pioneers such as Malaysia, Singapore, Indonesia and Thailand. This has led some less developed countries in East and South Asia to initiate the process of financial sector reforms and to realize the potential benefits of such reforms. The authors analyse the reform process and the lessons to be drawn from the experiences of these economies in their quest for sustained development in East and South Asia.

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The twin processes of integration and fragmentation have been the distinguishing features of contemporary globalization. Nowhere is this more strikingly evident than in the Asia Pacific. This first volume of a two-volume study concentrates on the geopolitical and economic transformation of Asia Pacific. It focuses on the complex relationship between the decline of ideological bipolarity, the rapid industrialization of East Asia and the tensions generated by the shifting balance of regional and global economic interests.Particular attention is devoted to the three major powers (the United States, China and Japan) and to a number of small and middle powers in particular Indonesia, Malaysia, South Korea, Australia and Canada. Underpinning the entire analysis is the complex interplay of geopolitics, economy and culture.States, Markets and Civil Society in Asia Pacific is essential reading for scholars and researchers of Asia Pacific politics and economy. The coherent analysis will also ensure the books appeal to those in NGOs and government agencies affected by, or working in, the region.

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This path-breaking book examines the effects of multinationals on the competitiveness of industry in the UK. The in-depth investigation analyses how these firms gain access to technology and questions whether or not multinationals, in their support of local technologies, improve the potential and competitiveness of local industry.The book discusses the evolution of multinationals in the late twentieth century, the role of the UK in this evolution and the theories of multinationals. It examines what these theories imply for efficiency and welfare, and the policies which affect multinational enterprises (MNEs). The authors consider the strategic positioning of subsidiaries in the UK in relation to the firm's overall global investment strategy. Using detailed empirical surveys, they also look at the role of technology in multinationals and how these firms' strategies are developing in regard to this. The authors examine whether MNEs UK operations are dependent on existing technology or whether they play a more positive role in its local creation and use. Finally the role of decentralized R&D in multinationals, and the status of this in the UK, is considered.Multinationals, Technology and National Competitiveness will be welcomed by those interested in international investment, business strategy, technology and innovation and public policy.

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This volume offers a thorough empirical analysis of the experiences of the left-wing parties in post-communist states and assesses their prospects for the future.The volume examines the fortunes of the political left in selected post-communist countries: Russia, Lithuania, Hungary, Poland, Slovenia and Romania. Regardless of their individual experiences, they all face similar challenges relating to their authoritarian past. These challenges include building a civil society and combating an under-developed party system and a mercurial electorate, combined with the political and social pressures associated with the transformation to a market economy. Six country studies all address how the left-wing parties have returned to the political stage and discuss their prospects for the future. The volume finds that the left has been a resilient, and generally underestimated, force in post-communist states aided by a unique combination of history, geography, commerce and social/cultural values.This book will be of interest to students and scholars as well as policy practitioners with responsibility for post-communist regions.

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The structures of the world's national and international, political and economic institutions have largely resulted from intuitive and ad hoc organization with reforms taking place on a costly trial-and-error basis. This book offers a comprehensive evaluation of the tools which can be used for a more rational and formal approach to institutional design.As new institutions and, indeed, new national governments are being formed and developed all the time, there is a considerable need for formal models that can facilitate their design. This book offers conceptual approaches and theories that shed new light on how various social and political institutions can emerge as the outcome of goal-directed rational behaviour. The author provides tools for evaluating existing institutions and for setting up new ones, demonstrating the applicability of decision and game theoretic tools, social choice theory and mechanism design to the construction of political and economic institutions. Using these approaches he particularly discusses the practical implications for the design of institutions in the European Union.This important book will be welcomed by students and scholars interested in government and political science, rational choice theory, methodology in the social sciences, and the microeconomics of rational behaviour.

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Population ageing is an important trend which will be experienced in industrialized countries in the early years of the next century. This significant book examines aspects of population ageing and pensions, with an emphasis on the design and use of simple economic models to focus on particular aspects of a very broad problem. The analysis of pensions presents many complex problems. A major aim of this book is to demonstrate how reasonably simple economic models can be designed and used to shed some light on the issues involved in population growth and pension provision. The basic analytics of population growth and pension structure are first explored. Projections for Australia are examined and used to model ageing and social expenditure and to estimate the 'burden' of aged care on future workers. The author goes on to investigate pensions and pension finance, and examines several types of economic model before turning to the analysis of alternative pension arrangements using a lifetime simulation model. The results of the study suggest that both lower contribution rates and a universal pension encourage a later retirement age.This book will prove invaluable to students and scholars of public sector economics, welfare economics, social economics and public finance.

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Flying into the Future explores the organization of air transport in the European Union. It analyses the nature of the industries supplying air transport services, the institutional structure of air transport services, and impediments to increased efficiency in the provision of air transport.The reduction in institutional barriers and regulations has led to a more efficient provision of air transport services in the EU. This book assesses the improvements in the efficiency of air transport services, and highlights institutional and physical problems impeding further efficiency gains. The authors examine airline operations, and the ability of two or more transport systems to operate effectively in tandem. They also consider how to make the boundaries between different transport networks invisible, as well as discussing issues of national organization and the juridical structures which impede operations. The analysis examines both the internal European Union market for air transport services and the links between it and the rest of the world. Other key issues discussed include: EU air transport developments in the context of global markets comparisons of recent developments in aviation policy between the EU and the United States the problems of congestion in the air transport industry in Europe the growth and significance of airline alliances. The authors not only consider the economics of European air transport but also legal, political, technical and geographical issues. They explore the problems of providing air transport in the context of inadequate information, institutional constraints, inherent market imperfections and imprecise objectives.Flying into the Future will be essential reading for industrialists, policymakers and academics interested in transport economics and transport policy.

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The Makers of Modern Economics, Volume IV builds on the three previous volumes in presenting the intellectual development of some of the twentieth century's leading figures in modern economic theory. The first volume in this series was acclaimed by Professor David Audretsch as 'a unique insight into the thoughts and lives of prominent economists'.In this fourth volume, Richard H. Day, Geoffrey C. Harcourt, Duncan K. Foley, Ken Binmore and Hirofumi Uzawa offer intimate insights into their careers and their research to date as well as taking a broader view of economics as a discipline and considering future directions. They reflect on their development, the problems and issues that interested them and the individuals who guided and influenced them.The Makers of Modern Economics, volume IV provides the academic, student and researcher with a fascinating insight into the life and work of some of today's most inspiring economists.

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Recent crises in emerging markets have raised doubts about the desirability of relaxing controls on capital mobility. George Fane, however, uses evidence from the crises in Asia and Latin America to reassert the traditional case that such controls are an excessively blunt instrument for achieving financial stability.This book argues that recent official proposals for reforming the 'international financial architecture' are also unlikely to reduce the frequency of currency and financial crises to an acceptable level. The author proposes an alternative plan to achieve greater financial stability: banks should have to double the currently accepted percentage of capital to risk-weighted assets from 8 to 16 percent and the risk-weights for loans to emerging markets should also be raised substantially the financial sectors in emerging markets should be fully opened to foreign competition bankruptcy procedures in emerging markets should be greatly strengthened central banks should adopt flexible exchange rates, backed by credible targets for inflation or monetary growth. If flexible exchange rates are not adopted, central banks should at least avoid the widespread practice of trying to sterilise the monetary effects of capital flows The author argues that the implementation of this plan will be a far more effective way of enhancing financial stability than controlling international capital flows, or trying to force private lenders to make new loans to countries that suffer crises.This book will be required reading for scholars and policymakers in the areas of international financial economics, financial regulation, development economics and Asian studies.

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A complex relationship exists between democratic politics and the management of the environment. Democracy and the Environment presents major new work on the challenges and dilemmas which environmental problems pose for the processes of democratic politics. The relationship between environmental values and goals and democratic theory and practice is explored through original essays by established scholars whose conclusions are then integrated by the editors into a concluding essay. This major book illustrates and analyses the many ways in which environmental problems pose difficulties for democratic decision-makers. Environmental problems impact across established regional and national boundaries, and involve complex social processes, intricate patterns of loss and gain, and time scales which do not synchronise with electoral political systems. The essays in Democracy and the Environment reflect critically upon the experience of democratic states, explore the contradiction between popular participation and environmental management, and consider the kind of reforms needed to enhance the capacity of democratic systems to handle environmental problems.Focusing on the democratic process and combining theoretical and empirical analysis with discussion of the pragmatic implications, the authors present constructive criticism and analysis which seeks to encourage more effective environmental decision making and the promotion of global sustainable development.

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This book provides an up-to-date analysis of some of the key issues facing the European Union on the (potentially rocky) road towards monetary union and enlargement. A wide range of topics is covered from a diverse and critical perspective.After addressing general questions concerning the deepening and widening of European integration, the authors include theoretical and empirical analyses of the implementation of EMU and its feasibility. They also consider convergence and development within the European Union, and the lessons to be learnt from the Nordic enlargement, as well as the experience of the Southern periphery. While the economic dimension is pervasive, the development of European Monetary Union will also be highly dependent on internal political developments and inter-member bargaining.

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Alternative Theories of the Firm provides a range of fundamental readings embracing the economics of firm behaviour from a non-neoclassical perspective. The collection covers several basic topics including: the importance of transaction costs and agency theory for the analysis of firm behaviour; capabilities and resource-based theories of the firm; the economics of firm strategy; behavioural theories; Austrian theories; evolutionary theories; and the historical development of firms. The readings include selections from traditional masters as well as writings by more recent authors. This collection will be of great value both to scholars who want a summary of developments in the field and to students of industrial economics and corporate strategy.

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This volume - the summary of a five-year research programme - describes and assesses the Scandinavian approach to local public finance. A key role of local finance in Scandinavia is redistribution in the form of a wide array of social services that are largely financed at the central level.

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>Biotechnology and Competitive Advantage investigates the development of biotechnology in Europe and the United States. It examines why Europe has fallen behind in applying biotechnology, when its scientific capabilities are largely comparable to those in the US. In addition it sheds new light on the wider context of the theory of growth of new technologies.This innovative book brings together a wide range of material concerning socio-economic aspects of the development of biotechnology in Europe and the US. Issues discussed include: European policy for biotechnology, in individual countries and at the European Union level risk regulation and the ways in which industry, regulators and non-government organizations manage risk regulation and the perception of risk the formation and roles of biotechnology firms in Europe and the US and their relative capabilities gene therapy development in Europe and the US the impact on Europe of overseas biotechnology research by European multinationals. This book argues in favour of developing an integrated research and development system which will strengthen the research and development capabilities of all the actors involved.This book will be of great interest to science policymakers; businesses and academics studying the development of biotechnology and students of economics and business studies throughout Europe and the US.

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This in-depth analysis of direct investment in transition economies provides not only original insights for economic policy in Central and Eastern Europe, but challenges some of the theoretical foundations of the multinational firm.Foreign investment is important in promoting economic growth and development, and this book examines the determinants of foreign direct investment under the unique conditions of the transition from central planning to market economies. It begins by reviewing the business environment and the conditions facing foreign investors, and assessing the existing statistical and qualitative evidence. Dr Meyer then analyses the theoretical literature and extends this in an empirical analysis investigating the investment decision of firms entering Central and Eastern Europe. The book also critically examines transaction cost theory and the theory of the multinational firm under the special conditions of economic transition. It points to a reorientation of international business research which will need to focus on firms as organizations rather than firms as substitutes for imperfect markets. Direct Investment in Economies in Transition will be essential reading for students and scholars of international business and transition economics. It will provide valuable insights for policymakers within the region about the forces driving foreign investment.

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This important book highlights the conflicts between economic growth and the conservation of nature in the context of sustainable development. It places particular emphasis on biological diversity and examines possible policies for resolving conflicts which arise from the contrasting goals of conserving the natural environment and economic growth. The book opens with an overview of the challenges of economics, nature conservation and sustainable development and goes on to discuss general principles and broad policies. Case studies from China and north-east India help illustrate important economic and social principles involved in nature conservation. General issues examined include: the value of environmental and resource economics in planning sustainable development the importance of biodiversity conservation for sustainable development and for the stability and sustainability of ecological systems the impact of economic globalization and market systems on the conservation of nature priorities for the financial support of protected areas the extent to which ecotourism can be harnessed to reconcile economic utilisation of an area with nature conservation the costs and benefits of conservation financing the management of nature reserves This book will be essential reading for economists interested in the environment, ecology and development.

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This timely book provides an innovative examination of financial integration in the European Union - an issue that has become of paramount importance in view of the commencement of European Economic and Monetary Union.The author begins by assessing three different methods of financial integration in the European Union: interest parity conditions, savings-investment correlations and consumption correlations. He goes on to examine the fundamental determinants of financial integration and analyses the factors likely to influence the movement of capital within the European Union. The blend of empirical and theoretical research provides the reader with a comprehensive account of the progress made in integrating financial markets in the European Union.Integrating Financial Markets in the European Union will be essential reading for students and scholars of monetary economics, international finance and European integration. It will also prove useful to practitioners and policymakers working in central banking and government.

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This is the first of two books in honour of Brian Loasby which simultaneously pay tribute to the contributions he has made to economics and extend the realm of Loasby-inspired economics.The book includes new contributions from an internationally acclaimed group of authors including Israel Kirzner, Peter Swann, Giovanni Dosi, Peter Groenewegen, Richard Langlois and Don Lamberton. Together, they draw on and extend Brian Loasby's work in developing and applying theories of organization and knowledge. The book opens with an introduction to Brian Loasby's career, influences and research. This is followed by an examination of issues raised by the analysis of markets and entrepreneurial behaviour, focusing on Marshallian and Austrian approaches. In the middle of the volume the human action theme is maintained but the focus is shifted onto the dynamics of consumer demand. The final group of chapters apply a history of economic thought perspective to problems of information and knowledge, and aspects of scale and internal organization.Economic Organization and Economic Knowledge will be welcomed by those economists working in the areas of microeconomics particularly markets, innovation, the theory of the firm, consumption, information and knowledge and competition.

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The siting of locally obnoxious but nationally relevant and necessary facilities such as sewage treatment plants, landfills, dams and nuclear power stations is an important issue in public policy planning. In view of the negative externalities such as declining property prices, health threats, and air, water and noise pollution imposed on the local communities that house them, the location of these facilities generates a consensus among the general public aptly termed 'not-in-my-backyard' or NIMBY syndrome.Drawing on the experiences of North America, Europe, Oceania and Asia, this book offers a comprehensive review of existing conflict-resolution instruments used in the siting of these facilities. The authors highlight in particular legal and command instruments such as zoning and compulsory acquisition of land, and economic incentives such as compensation and mitigation.Using elements from areas such as game theory and risk analysis and the use of compensation auction mechanisms, the authors present a series of decision steps to provide a credible alternative methodology designed to minimise such conflicts. This innovative study will be welcomed by all those with an interest in environmental and public policy planning.

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This major Handbook offers a comprehensive analysis of the key issues surrounding the rapid expansion of Latin America's manufacturing sector. It systematically examines the most important factors influencing the comparative advantages and the globalization of manufacturing industries in the region.The Handbook of Latin American Trade in Manufactures provides a detailed account of trade and investment policies, international technology transfers, macroeconomic stabilization and structural adjustment policies and industry-specific initiatives affecting the export competitiveness of Latin America's manufactures. The four major parts of the Handbook contain detailed assessments of regional and country-specific developments in manufacturing trade, and the statistical appendix provides essential information on the countries of the region.This Handbook will be welcomed by a wide range of economists in the fields of international trade and investment, industrial organization, development economics and Latin American Trade. It will also be of interest to business analysts and policymakers concerned with the formation of trade strategies.

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This important two volume collection of previously published journal articles and book excerpts provides an extensive array of readings in the economics and politics of international trade and investment policy.Volume One focuses on the globalization of business and links policy issues to economic and political theory and to the strategies of corporations. Volume Two concentrates on multilateral institutions and agreements, regional arrangements and linkages among trade, investment, labour and environmental policy issues.The articles included in this collection have been drawn from diverse sources and represent analyses by scholars of many persuasions and nationalities.

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This important book plays a vital role in bridging the gap between labour economics, law and economics and the legal profession. Beginning with a general overview of the relationship between labour law and economic theory, it then goes on to examine specific areas within the field of law and economics including: the new law and economic theories on contract formation, with a case study from the Dutch system penalty default rules as applied to Israeli labour law dismissal regulation in the UK and US from a comparative perspective overtime hours in the US and severance pay in Germany the European Works Council an historical and economic analysis of the German co-determined corporation.

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The 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

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This volume offers an impressive collection of scholarly papers which investigate the historical foundations of globalization before 1945. The book explores the effects of the nineteenth century technologies of the railway, the telegraph and the steamship which promoted the globalization process by boosting trade across frontiers and triggering migration of labour and flows of capital to the temperate areas of agriculture. The colonial empires, in particular the British Empire, facilitated the process, as the integration of capital markets and monetary systems and methods of business organization followed trade and labour. The volume also covers the time between the wars, when impediments to trade, migration and currency movements increased and led to a period of deglobalization and divergence.

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This 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.

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This 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.

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The 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.

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The transfer study, a technique used in cost-benefit analysis, is an increasingly important tool used by government agencies to assess environmental regulatory policy. This innovative book develops protocols for using the transfer method to approach environmental problems and introduces several significant conceptual and methodological advances that refine the transfer process.The transfer approach to quantitative policy analysis adapts information and data from existing studies and so provides an economical way to assess potential benefits and costs for projects. The book presents a detailed framework for examining the transfer of information, outlines the basic steps of the method, and discusses solutions to frequently encountered problems. It then illustrates the method with an extensive case study of environmental externalities from electricity generation. This case study provides the opportunity to discuss salient aspects of the transfer method in more detail, including conceptual principles, the quality of original studies, empirical difficulties and estimation techniques. It also demonstrates the use of state-of-the-art techniques such as meta analysis to synthesise and transfer information from multiple studies and assesses the reliability of the transfer estimates with repeated computer simulations, a technique known as Monte Carlo analysis.Environmental Policy Analysis with Limited Information will appeal to environmental policy analysts and managers as well as environmental economists.

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This ground-breaking book focuses on neo-Austrian capital theory and its application to the modelling of long-run economy-environment interactions.The book begins by presenting an overview of the modelling approach and offers an historical survey of capital theory and its development. The authors then provide a detailed introduction to the neo-Austrian modelling technique and extend it to include time horizons and growth models. The model is then applied to environmental issues such as green national accounts, resource rents and climate change to show how the neo-Austrian approach gives fresh and illuminating insights. An empirical application to the iron and steel industry is also presented.Capital and Time in Ecological Economics will be of interest to ecological and environmental economists, economic capital theorists and all those following developments in the neo-Austrian approach to economics.

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A unique and comprehensive source of information, the International Yearbook of Industrial Statistics is the only international publication providing economists, planners, policy makers and business people with worldwide statistics on current performance and trends in the manufacturing sector.This is the third issue of the annual publication which succeeds the UNIDO's Handbook of Industrial Statistics and, at the same time, replaces the United Nation's Industrial Statistics Yearbook, volume I (General Industrial Statistics). Covering more than 120 countries/areas, the 1997 edition of the Yearbook contains data which is internationally comparable and detailed in industrial classification. Information has been collected directly from national statistical sources and supplemented with estimates by UNIDO.The Yearbook is designed to facilitate international comparisons relating to manufacturing activity and industrial performance. It provides data which can be used to analyse patterns of growth, structural change and industrial performance in individual industries. Data on employment trends, wages and other key indicators are also presented. Finally, the detailed information presented here enables the user to study different aspects of individual manufacturing industries.

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What is the appropriate design for environmental regulation? Gert Tinggaard Svendsen sheds new light on the appropriate mix of economic instruments to implement environmental regulation in the context of the world-wide attempts to abate CO2 emissions.Gert Tinggaard Svendsen offers a detailed and comprehensive study of two alternative methods for controlling CO2 emissions - tradable permits and taxation - using examples of varying success from the United States and Europe. He applies a blend of environmental economic theory and public choice theory to analyse these methods and reveals that they both have merits. He proposes a design incorporating the best features of the two approaches because it is both cost-effective and politically and administratively feasible. In the case of C02 regulation, a CO2 permit market based on the US experience with free historical emissions should be applied in relation to industry, electric utilities and environmental organisations. The author proposes that a CO2 tax should be applied to non-organized interests, such as households and the transport sector, based on the EU experience. In particular, these policy recommendations are applied to potential CO2 permit markets in Europe and the United States.The interdisciplinary approach and the resulting policy recommendations make this book relevant to policymakers and academics across the social sciences. It will be particularly pertinent to those interested in environmental economics and public choice economics.

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1999 is the 100th year anniversary of the publication of Veblen's The Theory of the Leisure Class. This volume commemorates and celebrates Veblen's seminal contribution to the analysis of consumerist capitalism and assesses the book's relevance to the twenty-first century.Veblen's Leisure Class was a pioneering effort to come to terms with industrial capitalism's consumer culture, and it became the foundation for much of contemporary institutional economics. This book examines Veblen's contribution to the analysis of the new global economy, the growth of the women's movement, inequality, consumption and gambling at the turn of the century. It concludes by analysing the effects of the globalization of capitalism.This book will be of great interest to scholars of the history of economic thought and particularly those interested in how we can relate Veblen's classic work to society today and in the future.

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This book presents new original research on the main impediments to exports facing transition economies. It specifically addresses questions such as: are the impediments to exports mainly external and demand related, or are they associated more with the conditions of supply? How are governments promoting exports now that their influence over enterprise activity has been reduced? What strategies have enterprises developed to overcome existing barriers to exports? And what role does foreign investment play in the development of competitive export potential?The authors focus on the export performance of eight small transition economies with special emphasis on the behavior of exporting enterprises. Results of the analysis reveal that in the mid-1990s the companies inherited conditions and their strategies, as well as the domestic economic situation, are more important in determining export performance than characteristics of demand abroad. The authors conclude that exports have played a key role in the transition economies' recent recovery from recession and that further dismantling of remaining impediments will be critical as these economies become more integrated with the Western world.Trade Growth in Transition Economies will be essential for policymakers, governments and private sector business as well as for academics who analyze trade developments in Central and Eastern Europe and propose relevant policies to tackle impediments to exports.

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This 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.

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Giovanni Dosi is recognized as one of the world's leading scholars in industrial economics and corporate change. This volume contains a selection of his most important work and provides an excellent overview of the contribution he has made to the economics of innovation and technical change.Key topics include: technological paradigms and innovation diffusion economic behaviour and learning organizational structures and behaviour in a changing environment< corporate finance and innovation industrial dynamics evolutionary theories in economics institutions, technical change and economic growth. The book will be welcomed by scholars and students of innovation, industrial organization, business and institutional and evolutionary economics.

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This 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.

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This second volume of essays in honour of Bernard Corry and Maurice Peston focuses on labour economics, the history of economic thought and the development of the economics profession, specifically addressing teaching and policy advice issues. The authors discuss areas Bernard Corry and Maurice Peston have been particularly influential in. They address issues including labour markets, Malthus's methodology, the relationship between Alfred Marshall and Adam Smith, the eighteenth century origins of modern economics, monetary policy and education.

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Murray N. Rothbard was the leading voice of the Austrian School of Economics during its post-war American revival. His research in economic theory, history, method and policy, was the major impetus for today's burgeoning interest in the Austrian School and the broader realm of free-market thought.The Logic of ActionTwo is a careful selection of Rothbard's most important scholarly articles. Some have appeared in mainstream journals, others have been long out of circulation, and still others are published here for the first time. It was Rothbard's major ambition to shore up the scientific status of the Austrian School and, at the same time, demonstrate the theory's radical, free-market implications for government policy.The book confirms Rothbard as an intellectual giant, and presents his many contributions to the Austrian School, a systematic alternative to mainstream thought that reaches radical, free-market policy conclusions.

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Promises, 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.

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Lessons for Citizens of a New Democracy provides an authoritative analysis of the foundations of democracy, with relation to the demise of communist ideology. This significant contribution by a leading expert details the tentative process towards democracy in the successor states of the former Soviet Union and attempts to prioritise the issues of central importance in structuring a new democratic state.

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The Makers of Modern Economics Volume III follows on from the two previous volumes in presenting the intellectual development of some of this century's most influential economists. The first volume in this series was acclaimed by Professor David Audretsch as 'a unique insight into the thoughts and lives of prominent economists'.In this third volume their careers, education, achievements and views on future research are presented by economists who have made important contributions. The book brings together new original essays by Franklin M. Fisher, Christopher Freeman, Peter Groenewegen, Kelvin J. Lancaster, Martin Shubik and Gordon Tullock. The Makers of Modern Economics Volume III provides the academic, student and researcher with a fascinating insight into the life and work of some of todays most inspiring economists.

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On the Foundations of Monopolistic Competition and Economic Geography presents important work by B. Curtis Eaton and Richard G. Lipsey on product differentiation, including studies of spatial differentiation and the industrial structures that give rise to this phenomenon.The book opens with an introductory overview essay and explains why the authors reject the neoclassical, competitive vision of the economy. The essays included cover issues such as: the theory of multinational plant location, product differentiation, monopoly, models of value theory, capital with special reference to entry and exit barriers and entry equilibrium, the existence of pure profit and the theory of market pre-emption.This volume will be welcomed by academics and researchers interested in the microeconomic issues of competition, monopoly, firm behaviour and markets.

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