Why do some companies stay out of stock markets? How crucial are stock markets for competition between financial centres? How can local information help investors outperform the market? Whilst mainstream financial economics treats stock markets as consisting of anonymous actors interacting in space, with no consideration of the friction caused by distance or geography, this book offers a comprehensive and up-to-date picture of the global stock market by focusing on the relationships between issuers, investors, and intermediaries, and how these relationships impact on the performance of stock markets and the economy of cities, countries, and the world. The book uses rich data and global case studies to examine the rise of emerging markets, the impact of the global financial crisis, the revolution in the stock exchange business model, and the continued dominance of London and New York as stock market centres. Drawing on economic geography, financial economics, sociology, history, and globalization studies, the book explores the geographical constitution and footprint of stock markets and contributes to the broader debate on the role of stock markets in the global economy. Its conclusions are relevant to investors, companies issuing stocks, exchanges, analysts, investment banks, and policy-makers.

Cities form one of the principal arenas in which globalization processes are manifest. Much of the interest in the urban outcomes of globalization is focused on a limited number of iconic 'global' or 'world' cities. Most places however will never attain that status. They are more likely to play limited and specialized roles in a world economy increasingly dominated by flows. Emerging Nodes in a Global Network looks at the temporal and volatile ways in which two such cities, Frankfurt and Tel Aviv, engage the global economy. The central thesis of the book contends that the current round of globalization is characterized by places selectively functioning as nodes within global networks. Drawing on a combination of qualitative and quantitative empirical studies of leading sectors in Frankfurt and Tel Aviv (financial and business services, high technology, air transportation, tourism and cultural industries), the process of network formation is systematically analyzed and the role of national and regional policy is highlighted.
Audience: This book will be of major interest to academics, researchers, practitioners and policy makers in the areas of urban and economic geography, public policy and economic development. It also provides valuable material for government officials and regional and national agencies involved in metropolitan planning and development.

As other industries, the global travel and tourism industry has been facing immense challenges and highly visible upheaval since the beginning of the new millennium. The International Tourism Exchange ITB Berlin, the world's leading travel trade show, aims at pinpointing the most important challenges, identifying the trends and offering a platform to solve pressing problems. The ITB Convention Market Trends & Innovations has developed into a centre of excellence and a driving force for the global travel and tourism industry, generating a much needed information platform. This compilation unites the highlights of the convention in articles prepared by renowned professionals and scientists from the industry. Readers may benefit from this comprehensive vision of the developments that are shaping the structure of the global tourism industry today and in the future. This book is indispensable for tourism and travel professionals as well as for academics and students anal- ing current global tourism and travel trends.

Amongst intellectuals and activists, neoliberalism has become a potent signifier for the kind of free-market thinking that has dominated politics for the past three decades. Forever associated with the conviction politics of Ronald Reagan and Margaret Thatcher, the free-market project has since become synonymous with the 'Washington consensus' on international development policy and the phenomenon of corporate globalization, where it has come to mean privatization, deregulation, and the opening up of new markets. But beyond its utility as a protest slogan or buzzword as shorthand for the political-economic Zeitgeist, what do we know about where neoliberalism came from and how it spread? Who are the neoliberals, and why do they studiously avoid the label? Constructions of Neoliberal Reason presents a radical critique of the free-market project, from its origins in the first half of the 20th Century through to the recent global economic crisis, from the utopian dreams of Friedrich von Hayek through the dogmatic theories of the Chicago School to the hope and hubris of Obamanomics. The book traces how neoliberalism went from crank science to common sense in the period between the Great Depression and the age of Obama. Constructions of Neoliberal Reason dramatizes the rise of neoliberalism and its uneven spread as an intellectual, political, and cultural project, combining genealogical analysis with situated case studies of formative moments throughout the world, like New York City's bankruptcy, Hurricane Katrina, and the Wall Street crisis of 2008. The book names and tracks some of neoliberalism's key protagonists, as well as some of the less visible bit-part players. It explores how this adaptive regime of market rule was produced and reproduced, its logics and limits, its faults and its fate.

For the past two decades, scientists have urged us to abandon fossil fuels as rapidly as possible and pursue a range of other environmental reforms to avert the many crises climate change will bring. The reforms have not occurred at the expected rate, and their absence raises questions about when they might occur. In Shocks, States, and Sustainability, Thomas K. Rudel addresses this question. He outlines a theory of environmental revolutions and when they will likely occur through a comparison of radical environmental reforms throughout the 20th century. By looking at farmers in the American Dust Bowl, land-use planners in post-war England, small farmers in post-Soviet Cuba, and lobster fishers along the coast of Maine, Rudel emphasizes how sudden focusing events can spur radical reforms by providing a fresh realization about the scarcity of natural resources. Shocks, States, and Sustainability explains how earth-shaking events like droughts, depressions, and wars can provide the foundations necessary for the pursuit of global sustainability.

Jan Lambooy retired in October 2002. When Jan was asked how he wanted to celebrate this occasion, he was adamant that no great festivities should take place. Characteristically, Jan wanted just a scientific conference so he "could learn something from it" and, as he insisted, no great festivities. So that is what we did and a conference was organised in Amsterdam on 25 October 2002, hosted by the Faculty of Economics and Econometrics of the University of Amsterdam. Friends of Jan's from academia in the Netherlands and abroad participated and thus paid homage to Jan, both as a scientist and as a person. We are now very proud to present this festschrift, firstly as the palpable result of this conference and secondly as a token of sincere respect and great affection for Jan. Edited volumes run the danger of being a hotchpotch of contributions on a wide variety of topics. Here, we have explicitly focused on a central theme in contemporary economic geography and regional science, namely the relationship between learning, innovation and clustering. Internationally renowned scientists made both theoretical and empirical contributions to this volume. We think this book constitutes a broad palette of contemporary thinking and research on the relationship between spatial concentration and innovation and hope it will play a significant role in future debates on this issue.

Harvard professor, Michael Porter has been one of the most influential figures in strategic management research over the last three decades. He infused a rigorous theoretical framework of industrial organization economics with the then still embryonic field of strategic management and elevated it to its current status as an academic discipline. Porter's outstanding career is also characterized by its cross-disciplinary nature. Following his most important work on strategic management, he then made a leap to the policy side and dealt with a completely different set of analytical units. More recently he has made a foray into inner city development, environmental regulations, and health care services. Throughout these explorations Porter has maintained his integrative approach, seeking a road that links management case studies and the general model building of mainstream economics.
With expert contributors from a range of disciplines including strategic management, economic development, economic geography, and planning, this book assesses the contribution Michael Porter has made to these respective disciplines. It clarifies the sources of tension and controversy relating to all the major strands of Porter's work, and provides academics, students, and practitioners with a critical guide for the application of Porter's models. The book highlights that while many of the criticisms of Porter's ideas are valid, they are almost an inevitable outcome for a scholar who has sought to build bridges across wide disciplinary valleys. His work has provided others with a set of frameworks to explore in more depth the nature of competition, competitive advantage, and clusters from a range of vantage points.

In recent years, the contemporary social sciences have again turned their attention to space and places. The hypothesis is that these are not accidental episodes but a full-blown revolution in the way of viewing economic processes and their links with social and cultural structures. In other words, this new sensitivity to places offers the possibility of rethinking issues typical of economics in a different perspective that might be defined as local development, one of the terms most (ab)used in the contemporary scientific and political debate. In this book the authors will thus try to support more strongly, although in a necessarily simplified manner, the possibility of constructing a theory of local development. The key idea is that there is no single development model operating at a given time and valid for all places, but that it is more correct to talk of multiple development paths that co-exist in the same place at the same time (multiplicity of development paths). The central point is not to identify the succession of distinct hegemonic models (Fordism versus post-Fordism, mass production versus lean production and so on), but to show how the complexity of the contemporary economy demands new concepts to explain its apparent contradictions. In the authors' view, the conception of a theory of local development implies radical rethinking in institutionalist terms of the way of viewing the economy and production, recognising that behind economic development lies a wealth of institutional assets that make the encounter between local and global more open and varied than ever before (institutional biodiversity).

This is a book about the simultaneous location, production and distri bution decisions of a firm entering a competitive market whose spatial nature is describable by a network in which the market either achieves an equilibrium or is equilibrium tending. As such, the problem is of clear theoretical and practical importance, for it is a rather general version of the problem faced by real firms every day in deciding where to locate. Further, the timeliness of this subject manifests itself in the growing excitement and interest found both in the research/academic communities and in the practitioner/private industry communities for more comprehensive approaches to competitive facility location analy sis and equilibrium modeling of networks. The desire both for new conceptual approaches yielding enhanced insights and for practical methodologies to capture these insights drives this interest. While nor mative, deterministic facility location modeling techniques currently provide valuable input into the location decision-making process, re searchers and practitioners alike have realized the vast and relatively untapped potential of more advanced location decision making tech niques. In this book, we develop what we believe represents a major new line of research in the field of competitive facility location analysis; namely, equilibrium facility location modeling. In particular, this book offers a number of innovations in the mathe matical analysis and computation of solutions to location models which we have pioneered and which are collected under a single cover for the first time."

I am both pleased and honored to introduce this book to readers, and I want to take a few moments to explain why. Michael Romanos and Christopher Auffrey have produced a volume which will be of immense value to several different types of people. Planners and other specialists concerned with the development of the Southeast Asian region and the issues and opportunities associated with urban growth and sustainable development will find much to interest them in this book. But the book, I believe, has much wider appeal, and that is what I want to touch on briefly here. The University of Cincinnati, where Michael, Chris, and I work, is attempting to globalize itself - to develop its institutional capacity for international activities, to infuse its curriculum with international themes, and to promote and increase global competence among its graduates. Many American universities are doing this, of course. In the process, we are seeing some very interesting experiments in pedagogy, as faculty look for "learning moments" in new and sometimes exotic places. Michael, Chris, and their colleagues have, it seems to me, developed an outstanding model for learning across national and cultural boundaries. In the chapters which follow, you will read the results of their work. What will be less apparent, however, is the process by which that work was produced.

Randstad Holland is the urbanized western part of the Netherlands. It contains the four largest cities of the country: Amsterdam, Rotterdam, The Hague and Utrecht. The name Randstad (rim city) refers to the distinctive shape of the conurbation, a horseshoe of cities around an open agricultural and recreational area, known as the Green Heart. This book analyzes the restructuring of the region. The volume summarizes the research of the Urban Networks research program. The discussion is focused on four themes: housing, labor market and employment, infrastructure and transportation, and the provision of public services. The Randstad is internationally known as the playground of urban and regional planners. Their debates on present policy issues are extensively reviewed in the book. Teachers and students of urban change and planning, and policy makers and planners in The Netherlands and abroad will find much valuable information in this book.

The phenomenon of international seaport administration is the subject of this book. As a Ph.D.-student at the Delft University of Technology (period 1993 - 1997) I had the opportunity to develop and exercise my hobby on a full time base. The result was a Ph.D.-dissertation which was defended in December 1997. Unfortunately, these research results were published in Dutch while the majority of the interviewees and employees in the world of international seaport administration are English speaking people. Both for the reason of high international relevance of the results I felt the necessity to get this Ph.D.-research translated and published in English. With the excellent help of my promotor Prof.dr. W.G.M. Salet I found Prof.dr. H. van der Wusten prepared to cover this study on international seaport administration in the Kluwer GeoJournal Library series. I thank Mr. Van der Wusten for giving me this opportunity. But also due to the outstanding help of my current employer 'Zeeland Seaports Authority' the funding for the translation became very quickly possible. I thank the Managing Director of Zeeland Seaports Authority, Mr. J.M.H.G. Philippen, and the Commercial Director, Capt. J. Verkiel, for their interest and wonderful help in getting this study translated. And of course my sincere thanks go to Katy Owen who actually made this dream come true.

This book reviews the main energy sources, production problems and energy perspectives in Germany and Mexico. It surveys the status of traditional and alternative energy sources, including fossil fuels, nuclear, hydraulic, eolic, solar, and hydrogen cells. The book emphasizes the search for answers to such questions as What are the main problems of industries based on fossil fuels, and What is the present status of hydraulic and nuclear energy?

The Unique Nature of Frontier Cities and their Development Challenge Harvey Lithwick and Yehuda Grad us The advent of government downsizing, and globalization has led to enormous com petitive pressures as well as the opening of new opportunities. How cities in remote frontier areas might cope with what for them might appear to be a devastating challenge is the subject of this book. Our concern is with frontier cities in particular. In our earlier study, Frontiers in Regional Development (Rowman and Littlefield, 1996), we examined the distinction between frontiers and peripheries. The terms are often used interchangeably, but we believe that in fact, both in scholarly works and in popular usage, very different connotations are conveyed by these concepts. Frontiers evoke a strong positive image, of sparsely settled territories, offering challenges, adventure, unspoiled natural land scapes, and a different, and for many an attractive life style. Frontiers are lands of opportunity. Peripheries conjure up negative images, of inaccessibility, inadequate services and political and economic marginality. They are places to escape from, rather than frontiers, which is were people escape to. Peripheries are places of and for losers."

After leading the world during most of the 20th century in economic, political, technological, military, and even social terms, America s role is now being challenged. Its values questioned, and its methods often disparaged, America had become the clear example to be followed or even copied, yet its more recent strategic and political decisions gained little international support and a lot of outright opposition. The quality of its national planning and decision making has been severely compromised, and risk management appears to be largely absent. India and China are now emerging as new economic powers, with advancing technological prowess. Their focus is on socioeconomic development, but their capabilities and potentials are much broader and may challenge America's leadership before long, unless it recognizes the changing demands of the new wide open globalized world. "

The aim of this book is to tackle the question of what the European territory will look like over the next fifteen years by providing quali-quantitative territorial scenarios for the enlarged Europe, under different assumptions on future globalisation strategies of BRIC (Brazil, Russia, India and China) and East and West European countries. The approach is as neutral as possible vis-a-vis the results, leaving to a new forecasting model, the MASST model, built by the authors, to produce the tendencies and behavioural paths of regional GDP and population growth in each individual European region under alternative assumptions on the competitiveness strategies of different blocks of countries. The results are accompanied by strong policy messages intended to encourage long-term strategic thinking among a wide range of actors, scientists and policy makers in response to the risks and opportunities that the European territory will face."

This unique volume presents policy recommendations designed to promote entrepreneurship. It considers timely issues like impact of securities regulation, educational policy and intellectual property protection on entrepreneurship. In the process, the book addresses policies operating at the individual, national, regional, and international levels, and offers a unique perspective on several institutional structures that enhance entrepreneurship and economic growth.

This book provides an integrated assessment of issues related to climate variability and change, predictability and risks. It details both the technical aspects of variability and abrupt climate change and the agricultural and economical impacts and consequences.

Belgium is a small country, but its planning traditions are rooted in a heritage which has been greatly enriched by its central location in the West European community of nations. Medieval, Renaissance and industrial age planning and urban design gave Belgium many examples of architectural masterpieces especially in the city centers. During the post World War II period, Belgian planners and politicians legislated national planning laws that divided the country into 48 planning regions (also called sub-regions and sectors) and empowered the municipalities (communes) with potent legal instruments to direct land development in accordance with their plans. Preparation, amendment and execution of these plans in a democratic society with a strong laissezJaire tradition have been painstaking, but nonethe less, significant tangible results have been achieved. The purpose of this book is to explore and assess the successes and failure of Belgian planning and make this record available in English so that they may remain facets of Belgian planning. The general socio-economic and historical background is provided with a view to understanding the theoretical, legal, physical and selected topical aspects of Belgian planning. In doing so a multi-disciplinary approach has been taken and the authors have been selected from a variety of disciplines. Professor Louis Albrechts of the University of Leuven is a planning theorist. Ms. Brigitte Beernaert and Mr. Karel Vroom are practicing planners. Beernaert is also a planning historian. Legal and administrative backgrounds are represented by the planning experts, Dr."

This book offers a geographic dimension to the study of innovation and product commercialization. Building on the literature in economics and geography, this book demonstrates that product innovation clusters spatially in regions which provide concentrations of the knowledge needed for the commercialization process. The book develops a conceptual model which links the location of new product innovations to the sources of these knowledge inputs. The geographic concentration of this knowledge fonns a technological infrastructure which promotes infonnation transfers, and lowers the risks and the costs of engaging in innovative activity. Empirical estimation confinns that the location of product innovation is related to the underlying technological infrastructure, and that the location of the knowledge inputs are mutually reinforcing in defining a region's competitive advantage. The book concludes by considering the policy implications of these fmdings for both private finns and state governments. This work is intended for academics, policy practitioners and students in the fields of innovation and technological change, geography and regional science, and economic development. This work is part of a larger research effort to understand why the location of innovative activity varies spatially, specifically the externalities and increasing returns which accrue to location. xi Acknowledgements This work has benefitted greatly from discussions with friends and colleagues. I wish to specifically note the contribution of Mark Kamlet, Wes Cohen, Richard Florida, Zoltan Acs and David Audretsch. I would like to thank Gail Cohen Shaivitz for her dedication in editing the final manuscript."

1 2 Daniel Felsenstein and Boris A. Portnov 1 Department of Geography, Hebrew University of Jerusalem, Israel 2 Department of Natural Resources and Environmental Management, University of Haifa, Israel During the Candiot War of 1645-1669, the Ottoman Sultan Ibrahim I ordered his chief admiral to attack Malta. Fearing imminent defeat by the superior Venetian forces stationed on the island, the admiral decided to trick the sultan out of the idea. As the story goes, he placed a candle on his naval map, allowing the wax to drip on the tiny island until it was completely covered. Then he exclaimed in false surprise, "Malta Yok " (There is no Malta ), and convinced the sultan to sail his fleet to the Island of Crete instead. Although Malta is not featured in this volume, most of the countries it covers are of "wax drip" size. Intuitively, it may be expected that everything in small countries is diminutive: distances, population, economies, and even regional inequalities. Thus, at a symposium on "The Challenge of Development" convened in Israel in 1957 to mark the inauguration of a new building for the Department of Economics at the Hebrew University of Jerusalem, the eminent US economist Simon Kuznets stated that "developed small states seem to have succeeded in spreading the fruits of economic growth more widely among their populations than the larger states at comparable levels of income per capita."

Spatial deconcentration of economic activities, particularly the growth of suburban office, retail and entertainment concentrations, has become a prime concern in European metropolitan areas. This book provides a cross-national comparative perspective on employment deconcentration within selected metropolitan areas in Europe. Whereas most debate over urban sprawl and deconcentration is oriented towards the North American context, this book aims at a better understanding of this phenomenon in the European context, emphasizing the location of economic activities rather than residential patterns. It provides insights on whether different governance attributes produce particular forms of deconcentration versus the influence of market attributes and local specificities, also commenting on quality of life impacts and possible governance and policy implications of the deconcentration process.

Introduction of a comparative framework is followed by eight case study chapters, three representing northern Europe, three the south European-Mediterranean region and two post-communist central Europe. Most chapters examine two metropolitan areas, usually a large and a smaller one. The comparison reveals considerable variations in the magnitude, form, and process of employment deconcentration, only partly in line with expected influences of governance systems. Evidence does not fully confirm an anticipated distinction between Northern and Mediterranean Europe; the Czech Republic and Israel seem to diverge most from prevailing European trends.

A Billion Trips a Day: Tradition and Transition in European Travel Patterns consists of twenty-four original chapters developed by a network of transport professionals in a coordinated manner. The three parts of the book are: European Mobility Patterns; Dimensions of European Mobility, and National Perspectives. Mobility in fourteen countries is described and ten chapters of analysis compare the major dimensions of travel across Europe, which is seen as a laboratory for transport policies. A Billion Trips a Day: Tradition and Transition in European Travel Patterns questions the uniqueness of European travel and transport policies and demonstrates that, in many ways, Europe is different from other developed economies. However, there are side dissimilarities within Europe. The authors take a deep look at the underlying factors which affect travel behavior, with the objective of providing the necessary information for policy making. The comparative chapters of Part II provide an analysis based on national perspectives of the role of the time dimension travel; automobile ownership and use; commuting; public transport; and international travel. They also review the transport policies applied in Europe, explaining why some policies work in some places, while failing in others.

Regional development is attracting the attention of policy makers and scientists again, as regions, urban centers and rural areas, experience substantial pressures, particularly in Europe, as a consequence of globalization and geopolitical changes which lead to changes in spatial structures and dynamics. This book is based on the contributions of Greek regional science research presented at the 2006 Congress of the European Regional Science Association at Volos, Greece. The contributions selected to be presented in this book address these changes offering a fresh look into regional development. They provide an overview of regional development concerns from Greek regional scientists but the issues discussed pervade Greek particularities and stimulate thinking about regional science, regional development and regional policy in the early twenty-first century.

Nils Petter Gleditsch International Peace Research Institute, Oslo (PRIO) & Department of Sociology and Political Science, Norwegian University of Science and Technology, Trond heim This book could hardly have happened but for the end of the Cold War. The decline of the East-West conflict has opened up the arena for increased attention to other lines of conflict, in Europe and at the global level. Environmental disruption, not a new phenomenon by any means, is a chief beneficiary of the shift in priorities in the public debate. The Scientific and Environmental Affairs Divi sion of NATO has moved with the times and has defined environmental security as one of its priority areas for cooperation with Central and Eastern Europe and countries of the former Soviet Union. This book is the main output of an Advanced Research Workshop (ARW), held in Bolkesjl/l, Norway, 12-16 June 1996. I would like to acknowledge the personal support of L. Veiga da Cunha, Director of the Priority Area on Environmental Security. Research on these issues is now very much a collaborative effort across former lines of division in Europe. NATO encourages, indeed requires, that this be reflected in the composition of the participants, as well as the organizing committee. This meeting was organized by a group of five people from five different countries: Lothar Brock (Germany), Nils Petter Gleditsch (Norway), Thomas Homer-Dixon (Canada), Renat Perelet (Co-Director, Russia), and Evan Vlachos (USA)."