This modern day rags-to-riches story tells how one of the poorest nations in the world evolved into one of the most technologically advanced. How did South Korea do it? The miracle' that occurred in South Korea was produced, in essence, by military men, many of whom had undergone extensive managerial training in the United States in the preceding decade, who gave marching orders' to a responsive populace. "Marching Orders," a historically factual, yet fast-paced and dramatic page turner, ' chronicles, in five parts, the history and events that led to General Park Chung Hee's 1961 coup d'etat and the transformations in Korean society that followed it during the next decade. Part One surveys Korea prior to 1961--a deprived colony during the Japanese occupation, then a war-devastated, barely industrialized nation whose existence depended heavily on U.S. economic aid. Part Two analyzes the military establishment--a crucial factor in Korea's economic prosperity even today. The military takeover of 1961 and the subsequent establishment of the Supreme Council for National Reconstruction (SCNR) were the turning points for this politically and economically bankrupt nation. These events led to the massive changes which are detailed in Parts Three and Four along with the rationalization' of the political sphere and the various aspects of economic rationalization, ' including the now-famous New Village Movement, a model of agricultural development for other emerging nations. In Part Five, the role and potential of the military in national development are explained and South Korea is presented as a success story. Indeed, Marching Orders could well serve as a How To' book for emerging countries.

Highly readable, "Marching Orders" has been written for the generalist without sacrificing scholarship. It will also prove useful to specialists in sociology, political science, economics, and Southeast Asia; to entrepreneurs engaged in trade with South Korea; and to those interested in Third World Development. An excellent addition to the reading lists of courses in development, comparative history, and military-civil cooperation.

The book is the culmination of a research effort which spanned all continents and involved a large number of research teams from both the industrialised and developing countries. The book addresses a number of key issues related to technology transfer by small and medium-sized enterprises most especially whether such companies are more effective transferors than larger transnational corporations. A key aspect of the research was the fact that firms in source and host countries were matched to assure a degree of consistency in the firm coverage and their responses.

This book presents a theory of the general dynamic economic equilibrium which is a development of the static theory of Walras and Pareto. The work has built up an analytical model of the effective, current movement of an economic system, founded on the logic of the individual changing programmes - a basis for finding out the laws of all types of endogenous and exogenous movements of the economy. Indeed, the model can be used in the treatment of the typical problems of dynamic economics, by means of the author's method of variational dynamic analysis.

The electric power sector operates under an archaic regulatory system that is ill-equipped to oversee a competitive, restructured, regionally-organized industry. This book offers the first systematic discourse on regional aspects of regulatory reform, sharing topical perspectives from leading actors and regional case studies that show how the debate plays out on the ground. It frames the policy debate, applies economic and political theoretical lenses to federalism issues, and outlines options for regulatory reform, modes of cooperation, and an analytical basis for decisions. Most important, it provides a strategic road map for the industry over the coming decade. Contributors include current and former regulators at the State and Federal levels, senior utility executives, leading advocates, government policy makers and academics, including Michael Danielson, Michehl Gent, Kenneth Gordon, Kevin Kelly, Raymond Maliszewski, Richard O'Neill, Jackie Pfannensteil, Mary Sharpe Hayes, Charles Stalon, and many others.

This supplement focuses on the NBA with particular reference to pay and performance. In-depth analyses of positional pay variations, player negotiations, supply and demand and econometric models of pay and performance seek to give a much clearer picture of why, how and when pay is awarded in the sports industry and particularly in the NBA. The volume concludes with a retrospective of the 1995 All-Star Players.

Is the battle against inflation in China now over? Can Zhu Rongji, the economic guru turned Chinese premier who has successfully reduced the skyrocketing inflation of the mid-1990s to a near zero level, while yet maintaining high economic growth through the new millennium, relax? These are the key questions raised by China's current economic transition towards a market-based system, and they both revolve around the institutional economics that is the focus of this volume. Dealing specifically with the giant state-owned enterprises (SOEs), Industrial Reform and Macroeconomic Instability in China unravels the intriguing dynamics between industrial deregulation and inflation, in the context of China's continuous search for sustained, stable economic growth without runaway inflation. This book is unique among western studies: it addresses the very core, but to date least reformed sector of the Chinese economy. SOEs have monopolized key industrial supplies, commanded the bulk of national investment, disctated much of the nation's credit and finance, and have been the single most important source of state budget revenue. Continually faced with enormous internal wage pressures, all attempts at marketization and price liberalization are inherently inflationary. Based upon an independently, specifically designed set of questionnaires administered to 300 large and medium-scale state industrial enterprises in six major industrial cities, this book provides an in-depth analysis of the first decade of the reforms of the 1980s. The findings are formulated as pointers for understanding the macroeconomic vicissitudes that occurred after the launching of the campaign to create a 'socialist market economy' in the early 1990s. This book will be of use to China analysts, students, and businessmen who are interested in learning about the progress made, the remaining obstacles that the state-owned enterprises face, and their inevitable impact on China's economic growth and stability.

This important book presents a new original study of the German and UK financial markets. It addresses the relationship between corporate governance, ownership and financial performance in German and UK firms floated during the 1980s. Marc Goergen uses detailed company micro-data to examine the ownership and performance of each firm from the time of its flotation to six years later. He finds that the evolution of ownership depends on certain corporate characteristics and that differences in financial performance cannot be explained simply by differences in the concentration of ownership. The book sheds new light on the important issue of whether corporate ownership influences or is influenced by financial performance. The main findings of the book have important implications for public policy and the current public debate on corporate governance and the globalisation of financial markets. They are important for established financial markets and the transitional economies of Eastern and Central Europe as well as for international scholars interested in issues of corporate governance and the performance of firms.

The purposes of this book are as follows: 1) The occurrence of business cycle is closely connected with the essential features of a capitalist economy. The first aim of this book is to clarify this relationship. 2) To recount the history of business cycle in Japan and some other leading capitalist economies during the post war period. 3) To survey a variety of business cycle theories in both the Marxian and Orthodox economic traditions. 4) To construct a simple mathematical model and demonstrate the relationships between economic variables. We hope this helps readers to understand better the mechanisms of the business cycle. 5) To conduct a computer simulation of the model described above. Computer simulation is a powerful method both for examining the logical consistency of a theoretical model and exploring its conclusions.

This volume collects papers from Hugo Sonnenschein's students. It aims to demonstrate his tremendous impact as an advisor. The papers span decades and present some of the most important articles in microeconomic theory. Each paper is accompanied with a preface by the student providing background on the paper and indicating Hugo's influence on its genesis. The papers all lie in microeconomic theory, and moreover all make fundamental contributions to the foundations of the theory.

This is an updated and edited version of Robin Marris' classic "The Economic Theory of Managerial Capitalism" (1964). This was widely recognized as pathbreaking as it was the first attempt by a professional economist to make a formal theory of the behavior and growth of a large-scale "managerial" corporation based on a realistic assessment of the sociological and institutional environment. The model determined the long run growth rates of individual firms on the basis of the financial and market environment on the one hand, and the needs, interest and aspirations of both managers and shareholders on the other. Managers in particular were shown to trade desire for growth against fear of takeover. These then novel important features of modern capitalism--mergers, takeovers and executive bonuses and the relationship between the growth of firms and the growth of the economy--have become increasingly topical. The new book contains the original introduction along with reworked and updated coverage of the theoretical model, along with completely new chapters both of micro-theory and assessing and responding to the debate which the book created.

Mathematical Models of Distribution Channels identifies eight "Channel Myths" that characterize almost all analytical research on distribution channels. The authors prove that models that incorporate one or more Channel Myths generate distorted conclusions; they also develop a methodology that will enable researchers to avoid falling under the influence of any Channel Myth.

By 1968, 200 corporations held over 60 percent of the nation's manufacturing assets and total annual profits. This book is a comprehensive study of the enormous concentration of economic power resulting from the Third Great Merger Movement, during which over 9,400 firms disappeared through merger, increasing from 954 in 1961 to 2,442 in the peak year of 1968. This great merger wave took place during a period of prosperity marked by a rapidly expanding economy, easy money, and a bouyant stock market. The conglomerate firm was the most prominent feature of the Third Great Merger Movement.

This volume aims at covering the variety of issues lying at the intersection of the modern theory of Industrial Organization and of the more traditional Agricultural Economics. The book is divided into three main sections. Each of them includes contributions which are particularly relevant for a better understanding of one or several of the following key issues: the organization of agriculture and its mechanisms, the extent of the market power in agri-food industries and, more generally, the failures of agricultural markets, and finally the nature of government's intervention in these markets.

In modern economies a substantial proportion of resources is increasingly allocated to transaction costs. An improvement in the definition of transaction costs to include both the information role and efficiency role requires an integration of the approaches of positive economics and normative economics. In The Economics of Transaction Costs P.K. Rao provides a comprehensive analytical treatment of the subject and suggests a few directions for formal economic models.

The book analyses and evaluates the development role and impact of the state in East Asia, in both capitalist (South Korea and Taiwan) and socialist (China) contexts. It makes use of new research data on the mechanisms and impact of state intervention in East Asian development and presents an original theory, taking issue with the conventional view that East Asian development reflects the power of market forces.

Until the 1900s colonial and indigenous governments of Southeast Asia farmed out the right to run opium, gambling and other monopolies. Yet by about 1920 all of the major farms had been abolished and the collection of revenue brought under direct bureaucratic control. This book tries to explain the rise and sudden fall of revenue farming to trace the changing fortunes of the Chinese businessmen who held the major farms and to use the study of revenue farming to examine the emergence of the modern state in Southeast Asia and the great economic changes of this period.

The inauguration of the National Assembly of Wales creates a new opportunity to consider the economic agenda for Wales. This thought-provoking collection of papers carefully considers the recent past and makes a detailed analysis of the many facets of the regional economy. Individual chapters cover foreign investment, transport, small businesses, earnings, the rural dimension and outline the policy perspective. The book then looks forward and outlines the policy options for change which may provide a prosperous future for the region in an increasingly competitive world. For more information about the Welsh Economy Research Unit at Cardiff University, visit www.weru.org.uk

In this important book, industrial and enterprise reform over the last decade in Eastern Europe is critically reviewed in light of increasing Eastern integration into the global economy. The authors argue for the further globalization of Eastern European enterprise networks as a condition for recovery and growth in the region. Empirical evidence is provided from five industrial sectors (car industry, telecommunication, shipbuilding, computers, software), including case studies and international comparisons.

More than a third of national output of the Chinese economy now comes from enterprises in the rural areas outside the plan. This book explains how that sector became so big in China and what it means for economic reform and structural change. The book contains precise measures of the size of the rural enterprise sector and the extent to which it has contributed to growth in China. The sources of both labour and capital used are documented, and their contributions to the growth are estimated. The implications of the growth of these enterprises are explored and the new issues which the growth of the sector has created so far are identified. Special attention is paid to problems associated with the nature of rural enterprise ownership. The analysis stresses the special conditions in China and also highlights some lessons for the process of reform in other economies.

Over the past twenty years, several countries in Europe, Central and South America and Asia have undergone a transition from a planned economy to a market economy. Some observers have described this process as perhaps the biggest economic experiment of the last few centuries. However, knowledge about how this process affects business in these countries remains limited. The task of this book is to increase our understanding about how business changes at the micro level during the transition to a market economy.

The focus of this book is placed on the Russian market, as Russia is one of the biggest countries currently making the transition. The book takes as its point of departure the observation that firms and managers perceive the management of networks of relationships with customers and suppliers to be their greatest challenge. It presents a case study, which covers the period from 1986 to 1998, and analyses and explains how business networks in Russia have changed over the past fifteen years. Moreover, it identifies the driving factors in the process of moving away from plan-governance and toward the development of business relationships characterised by mutuality, stability and identity.

Martin Johanson is associate professor at the Department of Business Studies, Uppsala University, and Mid Sweden University, Sundsvall. He received his Ph.D. from Uppsala University in 2001. He has ten years of experience working as a diplomat and business consultant in Russia. His research interests are transformation of networks in turbulent economies and firms??? entry into emerging markets.

A political economy analysis of the history of food security in the Arab world, including the role played by the global food price crisis in the Arab Spring and the Arab response aiming at greater food sovereignty via domestic food production and land acquisition overseas - the so-called land grab.

Cooperative game theory is a booming research area with many new developments in the last few years. So, our main purpose when prep- ing the second edition was to incorporate as much of these new dev- opments as possible without changing the structure of the book. First, this o?ered us the opportunity to enhance and expand the treatment of traditional cooperative games, called here crisp games, and, especially, that of multi-choice games, in the idea to make the three parts of the monograph more balanced. Second, we have used the opportunity of a secondeditiontoupdateandenlargethelistofreferencesregardingthe threemodels of cooperative games. Finally, we have bene?ted fromthis opportunity by removing typos and a few less important results from the ?rst edition of the book, and by slightly polishing the English style and the punctuation, for the sake of consistency along the monograph. The main changes are: (1) Chapter 3 contains an additional section, Section 3. 3, on the - erage lexicographic value, which is a recent one-point solution concept de?ned on the class of balanced crisp games. (2) Chapter 4 is new. It o?ers a brief overview on solution c- cepts for crisp games from the point of view of egalitarian criteria, and presents in Section 4. 2 a recent set-valued solution concept based on egalitarian considerations, namely the equal split-o? set. (3)Chapter5isbasicallyanenlargedversionofChapter4ofthe?rst edition because Section 5. 4 dealing with the relation between convex games and clan games with crisp coalitions is new.

Economics and the Business Environment is directed at students who will be taking up managerial positions in trade and industry or in government. The economic environment of European companies is central to the book giving students a good impression of recent developments within the European economy. The theories described enable students to: calculate how much competition firms within a particular business sector are exposed to analyze the current economic position of a particular country and make exchange rate prognoses gauge the effect of the economic environment on business sales and profits. Complicated analyses and mathematical models have been avoided as much as possible. Instead, diagrams and graphs illustrate the causal relationships between economic factors, making this book an ideal primer for those needing the basics of economics for their business degree.

The purpose of this contributed volume is to consider how global consumption patterns will develop in the next few decades, and what the consequences of that development will be for the economy, policymakers, and society at large. In the long run, the extent to which economic growth translates into better living conditions strongly depends on how rising affluence and new technologies shape consumer preferences. The ongoing rise in household income in developing countries raises some important questions: Will consumption patterns always continue to expand in the same manner as we have witnessed in the previous two centuries? If not, how might things evolve differently? And what implications would such changes hold for not only our understanding of consumption behavior but also our pursuit of more sustainable societies?

This unprecedented collection combines economic, political, and intellectual history in its analysis of economic liberalism in Latin America. The volume demonstrates the unique and varied features of Latin American liberalism from its formative period up to 1940 and discusses its relation to state formation. The essays range from a continent-wide comparison to an in-depth local study, from tariff and industrialization policies of central states to the selective liberal convictions of traditional estate owners. The contributors consider the social bases of economic liberalism in the region and their relation to imperialism and to economic dependency. Questions of the strength and the staying power of economic liberalism are considered. In addition, the late appearance of serious alternative policies are treated.