Search results for ""Edward Elgar""

This book represents a major attempt to draw together two fundamental streams of research: intergovernmental relations and multi-level governance (MLG). Combining US and European schools of thought, this timely volume outlines key areas of convergence and divergence.IGR concerns interactions within the public sector and is traditionally favored in America, whereas MLG is more pertinent to the crossroads of the vertical (intergovernmental) and horizontal (state-society) dimensions and is considered foremost a European approach. The principal objective of this book is to bridge the gap between academic communities on either side of the Atlantic. Prominent scholars have gathered together for this volume and their various contributions, both individually and as a whole, provide a fresh and novel perspective on IGR and MLG and their interconnections.This innovative book will be of particular appeal to scholars and students of political science in America, Europe and beyond as well as practitioners in US and EU governments. The companion volume Policy, Performance and Management in Governance and Intergovernmental Relations is also available from Edward Elgar Publishing.

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Europe is at a major crossroads in its post-World War II history. The European Union (EU) has not only successfully adopted the euro as a common currency but it has also included twelve more member states. In this comprehensive volume, Peter Coffey, author of The Future of Europe (Edward Elgar, 1995), examines the major issues and challenges facing Europe and presents a concise and up-to-date analysis of the economic, political and social issues facing the EU following enlargement. The book is divided into five parts, with Part One analyzing issues surrounding the enlargement of the EU including criteria for membership, negotiations with candidate countries, and possible implications. Part Two covers the euro and the EMU. In Part Three the author examines the major areas of reform - institutional as well as policy - and sets forth his own proposals for future policy changes. Part Four reviews the European Convention, while Part Five looks to the future of Europe. Also included are official documents on European unification that are often difficult to obtain. In conclusion, the author foresees that the EU will, at least for some time, become a confederation of nation states, rather than a federation as desired by some EU members. This timely book is a must read for students and scholars of European studies, as well as political leaders and those with business interests in Europe.

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Hassan Bougrine, Louis-Philippe Rochon and the expert contributors to this book explore issues of economic growth and full employment; presenting a clear explanation to stagnation, recessions and crises, including the latest Global Financial Crisis of 2007-8. With a central focus on the role played by government spending, deficits and debt as well as the setting of interest rates, the chapters propose alternative policies that can be used by central banks and fiscal authorities to deal with problems of income inequality, unemployment and slow productivity. Students and professors of economics, policymakers interested in alternative policies, academics and scholars in all fields will benefit from the explorations therein and would do well to seek out the companion publication, Credit, Money and Crises in Post-Keynesian Economics, also published by Edward Elgar Publishing. Contributors include: P. Arestis, R.A. Blecker, S. Cesaratto, O. Costantini, J.J. da Silveira, M. Dufour, A.K. Dutt, G. Epstein, G. Fujii-Gambero, M. García-Ramos, J. Halevi-Haifa, G.C. Harcourt, E. Hein, E. Kam, J.E. King, P. Kriesler, G.T. Lima, J.A. Montecino, T.I. Palley, F.J. Prante, M. Sawyer, M. Setterfield, J. Smithin, J. Stanford, S. Storm

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Economic Theory and Capitalist Society is a collection of Shigeto Tsuru's most important essays written over the period of the past 60 years in the fields of general economic theory, development and environmental economics, and Marxian political economy. Professor Tsuru has been a leading critic of the major tenets of modern economic theory and has been credited in particular for his comparative studies of aggregate concepts, such as those of Quesnay, Keynes and Marx. Essentially an institutionalist, the author reviews the methodological significance of Marx's contribution, taking up in detail the latter's unique concept of the 'fetishism of commodities' and discussing the relevance of Marxian methodology to the analysis of present-day capitalism. The author's critique of the fundamental equation of growth accounting developed by Robert Solow, 'Effects of Technology on Productivity', is one of a number of theoretical papers included in this volume. It also features a series of important essays on environmental economics which the author, as a founder of the Japanese environmental movement, has written over the past half century.This collection of key articles by one of the most distinguished Japanese economists will be welcomed by students and practitioners in the fields of institutional and radical economics, environmental economics and the history of economic thought. The volume also includes an autobiographical essay which explains the development of Professor Tsuru's thought, his education at Harvard in the 1930s and his experience of post-war Japan. The Economic Development of Modern Japan, the second volume of Shigeto Tsuru's selected essays, is also published by Edward Elgar.

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The interdisciplinary field of economics and religion has come a long way since 2003 when Edward Elgar published the pioneering volume Economics and Religion. The influence of religious ideas on the birth of economics as a discipline and its rise to cultural dominance is now widely recognized. The largely Protestant discussion has been enriched by Roman Catholic contributions stimulated by recent Papal Encyclicals. The economics of religion has now matured into a respectable subfield of economics and articles on religion regularly appear in top economics journals. This original and insightful research review places the most recent contributions in context and will be an invaluable resource for scholars and academics alike.

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This major new directory provides, for the first time, up-to-date information on the work of leading scholars in the field of management. It will be an indispensable guide for management academics, and an invaluable reference source for the business community and officials in government and higher education.Who's Who in the Management Sciences is a unique source of reference, including entries on approximately three hundred and forty leading scholars in the field specialising in areas such as accounting, finance, management economics, organizational behavior, marketing, human resource management, management information systems, operations management, business ethics, strategic management and international management.Each of the entries provides important bibliographical data, key fields of interest, a select bibliography of chief publications, and a statement by the entrant of their principal contribution to management science - offering a unique insight and self criticism of their work.Who's Who in the Management Sciences will be revised, updated and expanded on a regular basis and will rapidly become established as a leading authoritative reference work in the field.This major new directory is now available in a convenient and accessible CD-ROM format! Maintaining the same high production quality and academic integrity as our printed works, the CD-ROM offers flexibility and added value. Includes detailed entries on over 300 leading scholars in management sciences, bringing a wealth of information direct to your desktop. Encompasses a sophisticated search facility. Entries include principal field of interests, employment and education history, achievements, consultancy work; plus an original summary - in the individual's own words - of their contribution to the world of management sciences. Offers direct links to related websites Includes a downloadable catalogue highlighting other Edward Elgar publications of interest. Allows users to print details directly from the screen. Provides an invaluable and user-friendly guide for management scientists, and an important reference source for the business community, officials in government and higher education. System requirementsWindowsIntel-compatible computer with 8MB of RAMWindows 95 or newer, Windows NT 4.0 or newerCD-ROM Drive Mac OS Mac OS-based computer8 MB Ram required for PowerPC processor-based systems and4 MB Ram required for 680x0-based systemswithout FileMaker web companion enabledMac OS version 7.1 or laterCD-ROM Drive

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Bringing together different perspectives on structural adjustment and the prospect for sustainable economic growth in Eastern Europe, Economics of Transition represents a shift in scholarly emphasis away from issues of stabilization and liberalization in favour of longer-term considerations. This major volume features a distinguished collection of papers focusing on the theoretical and policy implications of transition and change in Eastern Europe. Drawing on work from a wide range of traditions, it explores how effective demand induces growth, how diffusion takes place, how economic policy influences incentives, motivations and behaviours, how institutions influence organization and technological capability building, and how institutions both constrain and guide economic policy.Economics of Transition is the first of a major new series published by Edward Elgar for The Vienna Institute for Comparative Economic Studies. The intention of this new series is to encourage discussion on the economic theory and policy of transition and European economic integration.

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The Foundations of Monetary Economics presents an authoritative collection of key articles on monetary economics - one of the most contentious areas of economics. David Laidler - who has himself made important contributions - has selected those articles which are essential to an understanding of the origin and development of monetary economics.This important three-volume collection includes classic papers from the late 19th and early 20th centuries but places the emphasis on those papers written in the last half century. Particular weight is given to work that pays explicit attention to money's role in processes of exchange. Topics include the origins of money; cash in advance; overlapping generations and legal restrictions; theories of the demand for money; empirical studies of the demand for money; money, prices and output; money in general equilibrium and disequilibrium; money and clearing markets; credit market effects; monetary explanations of the cycle; money and the Great Depression; money and growth; monetary policy and the price level; rational expectations and monetary policy; central banking; free banking and the new monetary economics.

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In this book, Nancy and Richard Ruggles demonstrate their unique grasp of the measurement and analysis of macro and micro data and elucidate ways of integrating the two data sets.Their analysis of macrodata is used to examine the economic growth of the United States from the 1920s to the present day. They focus particularly on recession and recovery between 1929 and 1974 and the measurement of short-run economic growth. They also examine the measurement of saving, investment and capital formation in the United States. On a microeconomic level, they analyse economic intelligence in World War II, offer a study of fertility in the United States in the pre-war era and analyse longitudinal establishment data. Finally they integrating the two approaches to provide a method of providing a more complete picture of social and economic performance.

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Despite the fact that Western governments have provided Ukraine with over $10 billion in foreign aid, little is known of Ukraine's economy since it declared independence from the Soviet Union in 1991. In this book, Professor Banaian describes the halting steps towards transition that Ukraine has taken and analyses their effects. Ukraine is an example of how slow or gradual reform was attempted and stopped. The author argues that this has been the result of several political and economic factors, and that the resulting 'arrested transition' may continue indefinitely. Backed by extensive econometric analysis, the book provides insight into its hyperinflationary experience, the causes of continued economic contraction, Ukraine's experience with exchange rate regime changes, its large underground economy and the prospects for long run growth. The Ukrainian Economy since Independence will be of interest to scholars of the economics and political science of transition as well as policymakers in the area.

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This book discusses important recent developments in the theory, concepts and empirical applications of ecological economics and sustainable development. The editors have assembled a fascinating collection of papers from some of the leading scholars in the field of ecological economics.Topics covered include: the contribution of classical economics to ecological economics alternatives to the growth paradigm and Gross Domestic Product valuation in ecological economics and indicators of natural resource scarcity case studies of sustainable development critical reviews of the environmental Kuznets curve green national accounting. This will be an invaluable text for scholars, policy analysts and students interested in sustainable development and ecological, environmental and resource economics.

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With selected readings ranging from the mercantilists of the 16th and 17th centuries to contemporary 20th century authors, Free Trade versus Protectionism addresses one of the oldest controversies in economic science - the fundamental opposition of these two doctrines. It is the first book ever to trace this debate over more than three centuries.Overbeek presents arguments advanced by advocates of free trade and protectionism alike, creating a useful tool for scrutinizing the standpoints of both schools. The book consists of seven parts, beginning with mercantilism and its critics. Subsequent sections examine the free traders and protectionists of the nineteenth century, the evolution of the debate between 1900 and 1940, and the discussion of free trade versus protectionism during the latter half of the twentieth century. At the beginning of each section, the editor's survey of the period under review places the material in proper context; the selections themselves are then preceded by the editor's introduction, which contains a brief biography of the author and an explanation of the author's views.Free Trade versus Protectionism will prove a useful source book for professors and students of the history of economic thought, international economics, international politics, and international business.

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Many different types of private investment are described and their impact on the environment analyzed, leading to the conclusion - surprising for many - that improved environmental performance can accompany foreign direct investment. The book, the first in-depth study of these important links, is built around a series of case studies of various industries in Mexico, Argentina, Brazil and Costa Rica. The authors, a multi-national, multi-disciplinary team of experts, show how governments of developing countries can actually attract foreign investors by integrating environmental considerations into their investment promotion efforts. The book also identifies points of leverage for actions by governments, investors, environmental groups, and customers to increase even further the environmental benefits that can accompany private capital flows.This book makes an important and timely contribution to the debate on foreign direct investment and sustainable development. It will be of great interest to scholars and students of environmental economics, development economics, international finance, law, and management as well as to policymakers, environmental advocates, and private investors.

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This work on microeconomics offers interpretations of both its strengths and its weaknesses. It shows how the general equilibrium ideas of Walras and Marshall were gradually transformed after 1930 into formalized accounts of imaginary economies where trading never occurs.

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This book brings together a carefully edited selection of new and previously published articles by P.J. Lloyd on the opening of national economies to international trade and investment, and the formation of a truly global economy. It illustrates the major changes to the world trading system and international economy that have emerged as a result of the liberalization of trade and investment during the last few decades.The essays combine theoretical analysis with empirical research on trends in the global economy. Along with a biographical introduction, the book features new introductions to each of the parts on protectionism, trade liberalization, investment and trade in the Asia-Pacific and intra-industry trade. The book presents a unified treatment of trends at national, regional and multilateral levels, as well as discussing the recent Asian crises.This book will be welcomed by those interested in the developments which have led to the 'opening-up' of the global economy in recent decades as well as international trade specialists, those in government and international organizations, and growth and development economists.

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Transaction cost economics began to take shape around thirty years ago and has since been established as an essential tool used to illuminate a wide range of problems in economics and other social sciences. This paperback reader for students and scholars presents, in a convenient and accessible form, the articles which together form the foundations of research in transaction cost economics.The volume is divided into three parts: the first part presents the background to the field and includes those path-breaking papers from Coase (1937 and 1972), Williamson (1971) and Alchian and Demsetz (1972). The second part addresses the apparatus of transaction cost economics and includes papers on the structure and limits of firms. The third part presents the applications of transaction cost economics to firm behavior, investment decision-making, contract bidding, regulation and legislation. The editors, themselves distinguished scholars in the field, have written a new introduction which sketches the history of research in the field and offers some thoughts about the future of transaction cost economics.

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

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This thoroughly revised and updated edition of a classic text provides a comprehensive, non-technical overview of the principles of environmental and resource economics. The distinguished group of authors offers both an introduction to the economic causes and consequences of environmental and resource problems and an assessment of recent developments in environmental policy instruments and corporate responses to environmental problems.Comprehensive and authoritative, this new edition of Principles of Environmental and Resource Economics offers a non-technical state-of-the-art review which will be widely used as a teaching tool for upper undergraduate students and above as well as a reference point for practitioners and researchers.

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Economic Welfare presents an important collection of leading writings in the fields of policy evaluation. The volume focuses on the conceptual issues behind welfare economics, drawing upon contributions from economics, moral philosophy and social philosophy. The selected readings are designed to present the case both for and against extant approaches to economic welfare.Modern welfare economics comprises three contrasting approaches. Pure Paretianism focuses on cases where everyone is made better off or worse off. This approach commands broad (although not universal) assent but does not apply to most real world choices. Cost-benefit analysis does most of the practical work for economic policy evaluation, but does not offer fully sound foundations. Newer approaches treat economic welfare as either cardinal or measurable in nature, often dropping the traditional strictures against interpersonal utility comparisons. This collection brings together these three approaches, examines their strengths and weaknesses and asks whether they share a common future.Economic Welfare will provide an indispensable reference source for students, academics and practitioners.

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This substantial book examines key economic, political and social aspects of Malaysia at the turn of the new century. It covers the years of rapid growth and dramatic structural change leading up to the 1997 financial crisis, and the subsequent adjustments which enabled the economy to resume its vigorous advance. The authors critically address affirmative action policies aiming to help Malays enter the modern economy and make income distribution more equitable while reducing poverty. They look at case studies of persisting poverty amidst economic progress, and also scrutinize the development of East Malaysia with its special problems away from the centre of power in Kuala Lumpur. The authors review the direction of politics after Prime Minister Mahathir, as well as exploring Malaysia's foreign, education, and labour policies. They canvass the idea of a 'new Malay' better adapted to modern society, investigate the position of the Chinese, examine the struggle for women's rights within the religious framework of Islam, and discuss the contributions of Malaysian NGOs to ongoing changes. They finally draw together crucial issues facing Malaysia in the 21st century.The contributors, who are leading scholars in their spheres, have produced a wide ranging and comprehensive guide to the economy and society of Malaysia. This book will be of great value and interest to students and scholars of Asian economics, development and social studies.

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This book is concerned with some of the conceptual and practical problems of measuring the changes in welfare of individuals and the excess burdens arising from taxation. It provides an introductory review of alternative concepts and practical approaches to the measurement of welfare as well as providing a number of practical examples of welfare analyses in a variety of contexts.The excess burden of a tax is a central concept in economics. John Creedy provides an introduction to various concepts of welfare change, paying particular attention to the measurement issues involved. He then applies the methods outlined to the measurement of marginal tax reform and indirect tax reform, with empirical data taken from Australia. He also examines the redistributive effect of price changes in Australia between 1980 and 1995, and the effects of inflation in New Zealand over the period 1993-1995. Finally, he calculates the welfare costs of monopoly and measures the burdens of carbon taxation and welfare.Measuring Welfare Changes and Tax Burdens will be of interest to students and academics working in the areas of public finance and public policy, as well as economists working in government.

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This companion to Accounting for Resources, 1 tracks the life cycle of specific elements, such as chlorine and heavy metals, in order to estimate the generation and dissipative losses of material wastes.The book begins with a succinct review of the life-cycle analysis methodology and evaluates some of its weaknesses in estimating the generation of waste. The authors propose a new quantitative measure of the potential for environmental harm of waste materials. They include case studies to add weight to their proposal. Four horizontal life-cycle case studies are included; one for chlorine and chlorine chemicals; one for mercury; one for arsenic and cadmium; and the other for copper, lead and zinc. The book also includes a longitudinal study of heavy metals use and dissipation, during the period 1880-1980 with reference to the Hudson-Raritan basin. The book concludes with an overview, including some recommendations for future research and for policy changes with respect to governmental statistical data collection and organization.

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This book outlines the development of the theory of exchange, paying particular attention to formal models produced during the last half of the 19th century. This is achieved in two ways, by providing an introductory survey of the development of the theory and by reproducing extracts from some of the major contributors.John Creedy examines Cournot's analysis of trade between regions and Walras's model of exchange with a utility maximising foundation. He also analyses the developments in England during this time including Mill's treatment of international trade, which simulated Whewell and Marshall's work on a non-utility framework. In addition, the author considers the pioneering contribution of Jevons who had a major influence on Edgeworth, who in turn managed to synthesise many of the theories as well as producing his own important innovations. Finally, the developments made by Launhardt and Wicksell to the modern theory of exchange are discussed. What emerges from John Creedy's account is that these models are formally similar, but often disguised as different approaches by the different emphasis placed on certain parts of the model by the individual contributors.This pioneering book will be of interest to those working in the fields of the history of economics, international trade and microeconomics.

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This book asks an important question of how management of the environment may benefit firms. The authors take an objective, neutral perspective on the extent to which environmental issues should, or should not, be addressed within the management of business corporations.The Environment in Corporate Management includes an up-to-date treatment of business practices, norms and standards, using the tools of microeconomic and industrial organisation analysis to provide an ordered and consistent picture. The analysis is couched within stakeholder theory, which determines how costs and benefits are defined for the firm. Utilising the most recent information the book also focuses on the underlying long-term trends. Actual examples and case studies illustrate the discussions. The authors conclude by highlighting the inevitable need to link environment and finance, for better stakeholder relationships and business performance.This unique book is written clearly and accessibly, but with a firm grounding in academia to challenge scholars and researchers in areas including environmental studies, business, economics and finance. Practitioners will also find the book of great interest.

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This book integrates new political and economic elements into the analysis of monetary policy credibility and central bank independence.The author considers imperfect monetary control, rational voters, distributional issues and uncertainty about future policy objectives in his welfare analysis of central banking. The role played by the different institutional elements that contribute to the making of an independent central bank is also assessed. A distinction is made between central bank independence and targets offering new insights into how a more inflation averse monetary policy may actually be achieved. Finally, explanations for the variation of central bank independence and conservatism across different countries are provided.This book will appeal to researchers, academics and policymakers in the fields of monetary policy, financial economics, money and banking and political economy.

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Classics in Management Thought presents by theme an authoritative selection of the most important articles in management published during the last fifty years. Under the general editorship of Cary Cooper, an international panel of leading management thinkers have identified those published articles and papers which in their view provide the essential foundations of modern management thought. These articles and papers were originally published in a wide range of journals and books many of which will not be available in scholarly libraries.Classics in Management Thought is an essential reference to the relatively few path-breaking articles that have shaped management science in key areas such as decision making, leadership, motivation and all aspects of organizational behaviour. It will be an essential companion for both scholars and practitioners in management.

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Does free trade contribute to the deterioration of the environment?This important book offers a fresh look at the trade-environment debate from a political-economic perspective. It provides an extensive analysis of the environmental consequences of free trade, and examines how trade affects environmental regulation in this age of regional and global economic integration.The book begins by providing a useful review of the literature on the environment-trade link and the effects of trade on environmental regulation. It is demonstrated that environmental regulation may affect trade and investment patterns, and as a consequence the competitiveness of a country or region. Using the North American Free Trade Agreement as a case study, the author examines the political influence of environmentalists and industry sub-groups on pollution standards in the United States. Rolf Bommer also discusses the European experience, and reveals that the European Union may affect pollution regulation considerably and increase the chance of higher environmental standards. He concludes that free trade offers the opportunity to introduce tighter pollution regulation due to the political influence of interest groups on environmental policy making.Economic Integration and the Environment will be welcomed by environmental economists, those interested in international economics as well as policymakers and practitioners.

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In The Methodology of Macroeconomic Thought, Sheila Dow attempts to bridge the gap between methodology and macroeconomic theory through the study of four different schools of thought in economics - the Neo-Austrian, mainstream, post Keynesian and Marxian traditions - and by seeking to understand their methodological foundations in their own terms. In this substantially-revised new edition of her classic work, Macroeconomic Thought: A Methodological Approach, Dr Dow argues for methodological awareness among practising economists as a basis for constructive debate and reasoned argument. The methodological content has been substantially increased to include material on recent developments in the field. After analysing the historical and methodological development of each of the schools, the author covers the micro-foundations of their macroeconomics and their approaches to key concepts including equilibrium, expectations, money and macroeconomic policy. The author seeks to identify the sources of differences between schools of thought as well as potential and actual commonalities before examining their differences at a conceptual level. Unlike other accounts, mainstream economics is treated here as one school of thought on a par with Neo-Austrian economics, PostKeynesian economics and Marxian economics.The Methodology of Macroeconomic Thought will be welcomed by readers for its description and analysis of these schools in their own terms, as well as for the wider perspective it offers on methodology.

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This book brings together John Creedy's most important essays on the history of economic analysis. The book contributes to our understanding of the development of economics by looking at the subject and some of its major players including Pareto, Edgeworth, Marshall and Wicksell, from an historical perspective. It reveals how learning about a subject and its past is critical to understanding current debates.

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Charlatans or Saviours? is the first detailed analysis of professional British economists from Marshall, through Keynes and Meade to the present day. It examines the relationship between professional economists and economic policy in an attempt to answer the question: 'Can economics and professional economists be blamed for the relative decline of the British economy?'This book provides an unrivalled account of how economic policy is made in practice. It uses examples of major policy decisions to show how policy debates develop and then assesses the subsequent balance between political, bureaucratic and economic influence. In this path-breaking investigation Roger Middleton sheds new light on Britain's relative economic decline by examining the advice economists have given to government. He analyses whether economists are partly responsible for this decline or whether they are largely innocent and unnecessarily blamed by politicians. In discussing the rise of professional economics he demonstrates that from the time of Marshall onwards the market for economic policy advice in Britain has been unusually competitive. In addition, Roger Middleton explores the broader concern in contemporary economics, that is, the pursuit of rigour at the expense of relevance.This in-depth study will be welcomed by economists interested in policy making, the history of economic thought, economic historians and political scientists.

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Subregional economic cooperation has been an important yet relatively unexplored aspect of the quest by central and eastern European states to make the transition from integration in the Council for Mutual Economic Assistance to full EU membership.Martin Dangerfield provides a comprehensive and in-depth study of what has clearly been the most important initiative in this respect - the Central European Free Trade Agreement (CEFTA). He examines the origins, aims, objectives and structure of CEFTA as well as assessing the main results of the cooperation so far. Analysis is included on both the economic and political impact of CEFTA and its role as a pre-accession instrument to the EU. Martin Dangerfield discusses integration-deepening in the CEFTA context, the debate over institutionalization and the CEFTA enlargement process. The final part of the book examines the future viability of CEFTA in the context of the process of eastward expansion of the EU.This book will be a valuable addition to the existing literature in the area, appealing to academics and researchers in European and transition studies.

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Recent outbreaks of financial instability have spurred new interest in the works of the late Hyman P. Minsky who made path-breaking contributions to our understanding of contemporary market economies. This book provides an innovative tribute to Minsky's work and sheds new light on the nature of economic fluctuations and financial instability.Eric Nasica provides a contemporary analysis of the relationship between finance, investment and fluctuations. He focuses on the contributions of Hyman P. Minsky and, in particular, on his financial instability hypothesis. He also examines more recent models of financial instability, based on dynamic non-linear systems and asymmetric information, but finds that they are unable to account adequately for the behaviours of agents in situations of uncertainty and for the role of institutions in the unfolding of fluctuations. Minsky's theory of fluctuations accounts for these factors in the role of 'institutional dynamics'. Finally, the author compares fluctuations and finds that they have a similar approach to uncertainty and macroeconomic instability.Finance, Investment and Economic Fluctuations will prove invaluable to scholars of macroeconomics and finance.

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Sustaining Development brings together, in one accessible volume, a selection of Daniel W. Bromley's path-breaking theoretical and empirical papers on economic development and environmental problems in the developing world.The book emphasizes the institutional dimensions of the environment and development problem, paying particular attention to the role of property regimes in understanding the causes and consequences of environmental degradation. Daniel W. Bromley, one of the world's leading environmental scholars, addresses the conceptual and empirical issues of alternative property rights, institutions and incentives as they relate to environmental resources. Drawing on empirical work, he sheds new light on the pressing problems faced by governments in the developing world as they struggle with the twin challenges of poverty and resource degradation. Throughout the book Professor Bromley pays careful attention to the policy implications and policy formulation of the issues under discussion.Sustaining Development will be welcomed by environmental and development economists as well as policymakers in both the industrialized and developing world.

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This path breaking book - the first of its kind - critically evaluates the place of women in the development of the neoclassical school of economics. It traces the origin of the school's approach to women and exposes the bias in methodology and discourse which has characterized the school's treatment of women and their place in the capitalist economy. The roots of women's invisibility are sought first in the writings of Adam Smith. The work of John Stuart Mill subsequently allows a study of an isolated attempt to integrate a feminist awareness into economic theory. The limits in Mill's writings are contrasted to the more radical ideas of his feminist contemporaries: Harriet Taylor and Barbara Bodichon. The author then examines the debate on equal pay for men and women which took place between 1890 and 1925. In conclusion she critically evaluates the work of Marshall and Pigou.This book by the late Michele Pujol makes a major contribution both to the history of economic thought and to women's history by exposing the ideological position which informs neoclassical theorizing on women and the contradictions this position creates within the paradigm.

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In this invaluable book, Martin Fase, a notable academic and practitioner, draws together his most important contributions to monetary economics over two decades, using empirical evidence to assert his unique style in designing monetary policy. One of the main themes of Professor Fase's work, covered in the first part of the book, is the empirical analysis of the demand for money. For traditional monetary aggregates and Divisia aggregates the author investigates the dynamics, stability and determinants of money demand on a sectoral, national and Europe-wide level. The second part of the book uses empirical evidence to address a variety of monetary issues, including the system approach to money demand, the demand for bank loans, payment patterns and the demand for banknotes and coins. These chapters support the author's assertion that both the aggregate and disaggregate analyses of money demand are necessary for the design of a successful monetary policy in a European Monetary Union.On Money and Credit in Europe will be of great value to scholars and practitioners of monetary and financial economics, the economics of European integration and money and banking.

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New growth theory attempts to explain the process of long run economic growth through endogenous forces such as human capital, knowledge spillover and information technology. This book offers an up-to-date critical review of the most important economic issues in new growth theory and discusses its empirical evidence, optimality and usefulness in national policy making. Professor Sengupta critically analyzes the dynamic and disequilibrium models as applied to recent international growth and discusses their policy implications for structural adjustment, technological innovation and international spillover of knowledge. He empirically illustrates the various phases of growth in technology-intensive sectors such as flexible manufacturing and the semi-conductor and telecommunications industries, presenting new insights into the effects of the learning process on growth and the different phases of the innovation process. He also provides a detailed new approach to learning by doing. He then critically reviews the foreign exchange market in relation to international development. Lastly, he applies time-series econometric methods to R&D investment in human capital in a global framework.New Growth Theory will be invaluable to graduate students and scholars of macroeconomics and researchers in growth theories and economic development.

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This carefully edited selection of Robert Eisner's essays ties together his authoritative contributions to economic analysis and macroeconomic policy issues, particularly business, investment and tax policy. He offers a trenchant analysis of the fundamental issues of employment, investment and economic welfare in an advanced market economy, offering a challenge to the conventional wisdom on macroeconomic theory and policy.Professor Eisner first examines the determinants of business investment and criticizes neoclassical theories on investment. He goes on to assess the role of tax incentives in investment and finds that tax policy is a flawed way of attempting to encourage investment. He also analyses national income accounting and offers some alternative measurements for calculating national product. Professor Eisner then examines the implications of war for the economy and explores the macroeconomic consequences of disarmament including its possible effects on unemployment. Lastly, he addresses the conflict between economic policy and principle; particularly concerning the environment, insurance and the theory of choice, academic freedom and the elderly.

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The last two decades have seen a reshaping of the international economy together with a radical weakening in the conditions of the working class. New productive techniques and methods in the organization of labour have been implemented on a world-wide scale partly as a consequence of the financialization of capital. The geographical diffusion of market relations has continued and with it the dominance of capital in all realms of social reproduction. In charting this change, the book offers an alternative view of contemporary capitalism.It has been suggested that we are entering a new phase where the 'globalization' of economic activities is fully achieved, where 'post-Fordist' regulation has overcome the crisis of Keynesian capitalism, and where the dominant tendency is towards the 'end of work'. In contrast to this view, the authors of this book argue that current internationalization is not a structure, but a contradictory process and that new patterns in the division of labour while successful in increasing the pressure over workers have not been able to supersede Fordism entirely. They conclude that the slow growth of the economies, caused by neoliberal economic policies, is a crucial factor in explaining unemployment and the fragmentation of labour.

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Privatization is now a universal practice and is the result of a set of interrelated factors, all of which are explored in this collection. Privatization has also become an academic industry, generating a vast outpouring of books and articles.This authoritative two volume collection, which includes a new introduction by the editors, concentrates on the public policy of privatization, and explores its dimensions by presenting key theoretical and empirical articles. The volumes are also clearly interdisciplinary, bringing together for the first time articles informed by political science, economics and sociology.The collection will be invaluable for both practitioners and academics, especially those involved in the study of applied economics, public policy and political science.

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The second edition of this widely acclaimed book considers the extent to which the Baltic states have succeeded politically and economically in their aspirations to emulate Western institutions since independence. The book has been completely revised since the first edition to account for the rapid changes in the countries themselves, and in the theories that attempt to generalize the patterns of development in post-communist countries.The Baltic States after Independence, Second Edition provides a thorough analysis of the political and economic systems of Estonia, Latvia and Lithuania. It sheds new light on the processes and obstacles which have characterized the Baltic transition from the Soviet system. The authors examine the history of these countries and the movements towards democracy, institutional change and economic development during the post-communist era. In addition, they analyse other issues including national identity, security and Western integration, and have included a new chapter on international relations, reflecting the changing issues faced by the Baltic states.This book offers a unique insight into political, economic and social life in the three independent Baltic states which will be welcomed by academics and students working in the areas of political science, economic development and transition studies.

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In this ground-breaking book, leading commentators on the Japanese economy analyse both the immediate and deep-seated causes that make a sustained economic recovery in Japan problematic. They debate the deep-rooted structural causes of Japan's decline and assess Japan's faltering financial system before prescribing policies to abate the continuing crisis.Starting with Japan's unanticipated economic collapse in the 1990s, the volume's contributors try to fathom the way forward for a seemingly catatonic economy. The first section deals with the entrenched structural causes of Japan's economic decline and demonstrates why sustained recovery is likely to be difficult. The second section tackles a more immediate difficulty impeding economic recovery - Japan's nearly bankrupt financial system - and discusses how regulators and politicians both helped to cause and can possibly combat this problem. All contributors agree that measures must be taken to ensure the synchronization of political, institutional and cultural structures to guarantee Japan's successful recovery. They are unable to agree on which measures will be effective and feasible. This highly insightful and accessible volume will be of interest to scholars of Japanese studies, financial economics and international economics as well as anyone with an interest in the current Japanese crisis.

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The Russian labour market has been hailed by some economists as being 'perfectly flexible' because Russia has achieved enormous employment restructuring with minimal unemployment, and by others as plagued by rigidities since pay structures have been frozen, inequality has increased and job creation has been negligible. Such disagreements reflect both the lack of serious research on the formation of a labour market in Russia and the lack of theoretical agreement as to what constitutes a labour market.Simon Clarke addresses these empirical and theoretical issues on the basis of statistical survey and case study data collected within the framework of a large-scale collaborative research programme on the restructuring of labour and employment in Russia. The book reviews the historical context, the statistical data and the theoretical issues before proceeding to a detailed analysis of the development of the labour market in the interaction of the labour market strategies of employers and employees.The Formation of a Labour Market in Russia will be of interest to scholars of transition studies and labour economics, industrial relations specialists and sociologists of labour.

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This book critically examines the progress made on macroeconomic stabilization and financial sector reform in the transition economies of Central and Eastern Europe. It relates microeconomic experiences to the broader macroeconomic context of reform, and emphasises that macro reform is underpinned by micro and institutional reform, especially in the financial sphere.Key features include: bank and enterprise restructuring and the progress towards the resolution of banking and bad debt problems implications of bank and enterprise restructuring for corporate governance and company performance an evaluation of bank-enterprise relationships exchange rates and capital flows, with an analysis of the capital inflow problem and the performance of fixed exchange rate regimes in the post-stabilization phase of the transition detailed surveys of individual firm and bank behaviour and performance during the reform process. The book will be welcomed by scholars and practitioners interested in monetary and financial economics, the economics of transition and comparative economic systems.

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Warren Samuels's second and concluding selection of essays focuses on early 20th century economists who, while relatively well-known in their times, have tended to be obscured by the more prominent stars of the discipline. It illustrates that economics is more diverse and complex than conventional histories of economic thought tend to identify. In particular it includes contributions on those economists who were not in the mainstream, or, if in the mainstream, practised economics in a somewhat alternative manner. Warren Samuels has assembled a collection of essays on thirteen economists - six German and seven Italian - who remain noteworthy of study to this day. The economists featured in the volume represent a variety of ways of practising economics - theoretical, methodological and policy-orientated - who all contributed to the understanding of economic processes and institutions at the deepest levels.European Economists of the Early 20th Century will appeal to all those with an interest in the philosophy and evolution of economics and to historians of economic thought.

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The prohibition of interest is the feature of Islamic banking which most distinctly sets it apart from conventional banking. To Western eyes, this seems a strange restriction, but Christian countries themselves maintained such a ban for 1,400 years. Islamic Banking asks why Islam has been able to maintain its stand. The book explores the intricacies of Islamic law and the religious and ethical principles underpinning Islamic banking. It then considers the analytical basis of Islamic banking and financing in the light of modern theories of financial intermediation, and identifies the conceptual issues to be overcome. Following case studies of the operations of Islamic banks in Bahrain, Bangladesh, Egypt, Jordan, Malaysia and Australia, along with Iran, Pakistan and Sudan, the volume concludes that many of the criticisms of their activities seem misplaced. It argues that the factors governing success are the distinctive system of corporate governance and continued product innovation. The book ends by considering four such innovations - Islamic investment banking and project finance, Islamic insurance, Islamic securities and the formation of a pan-Islamic international financial centre.This pathbreaking volume - the first to consider Islamic banking and finance from a global perspective - will be of great interest to scholars of money and banking, international finance and Middle Eastern studies.

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The Economics of Marketing is an authoritative collection of previously published articles which demonstrates the contribution of economics to the field of marketing. It includes articles that deal with the economic history of marketing practices and contains both classical and contemporary economic analyses relevant to marketing management.Topics covered include the history of marketing, channels of distribution, product strategies, promotion and advertising, pricing policy and limiting competition.This volume will be of interest to economists and those academics working in the field of business and management studies and will contribute to a new dialogue between the two disciplines.

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The Economics of Budget Deficits provides a comprehensive overview of the scholarly literature exploring the causes and consequences of deficit spending and the public debt. Incorporating classical, Keynesian and public choice analyses of debt-financed public expenditures, the two volumes contain major theoretical and empirical contributions to the debate. They cover such critical fiscal policy issues as the history and measurement of budget deficits, the question of who bears the burden of the public debt, the use of deficits to solve problems of dynamic policy inconsistency and the relative effectiveness of fiscal rules and constitutional constraints as mechanisms for achieving budget balance. The editors provide an authoritative introduction to the two volumes and separate overviews of each of the seven parts. The Economics of Budget Deficits is an indispensable reference for all scholars and students interested in fiscal policy and for all policymakers.

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The rapid rise in the earnings of top executives is a distinctive feature of modern capitalism. This important two volume collection presents some of the most influential published theoretical and empirical papers on executive compensation. Topics include: Theoretical Foundations of Executive Pay; Executive Compensation and Company Performance; Relative Performance Evaluation; Determinants of Executive Compensation; The Effects of CEO Pay; Accounting Measures in Executive Contracts; CEO Turnover; CEO Pay Internationally; Economic Environments and Executive Pay.The Economics of Executive Compensation draws together a wide range of literature and will be an essential reference guide for students, researchers and practioners.

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