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.

Preface - List of Contributors - Abbreviations and Acronyms - Acknowledgements - Scientific Programme Committee - Introduction - PART 1 NATURAL RESOURCES AND ENVIRONMENT; T.S.Khachaturov, C.Pearson, M.Hufschmidt & A.Lukaszewicz - PART 2 THE WORLD FOOD SITUATION AND PROSPECTS; N.Islam, G.E.Schuh, H.Linnemann & A.Vald s - PART 3 ECONOMIC ASPECTS OF INTERNATIONAL MIGRATION; R.Tabbarah, M.Kritz & T.A.Kjurciev - PART 4 ECONOMIC IMPACT OF THE ARMS INDUSTRY; C.Schmidt, K.Hartley, H.Wulf, M.O.Intriligator, D.L.Brito, S.Deger & S.Sen - PART 5 CAPITAL NEEDS AND CAPITAL MARKETS; J.B.Donges, H.Hughes, C.Luft & L.Maier - PART 6 FOREIGN INDEBTEDNESS, EXCHANGE RATES AND THE MONETARY SYSTEM; A.Taylor, G.O.Nwanko, M.Panic, M.S.Kumar, A.Ferrer & J.Ahmad - PART 7 INTERNATIONAL FINANCING FOR DEVELOPMENT; S.Borner, H.W.Mayer, C.F.Diaz-Alejandro & G.K.Helleiner - Index

Over the past two decades, economic theory has extended its field of application to non-market goods such as environmental resources and health. Although it is impossible to assign a price to these goods on the basis of market mechanisms alone, the fact that they have no price does not mean that they have no value. One technique in which economists have shown a marked interest is the contingent valuation method (CVM), which has mainly been used to assign a monetary value to environmental goods. It was first applied to natural resources used for recreational purposes. CVM has been applied to health only recently, so that studies in this field are relatively more scarce than those dealing with the environment, although several valuation methodology surveys are available. There has hitherto been no book which has drawn together and analyzed recent contingent valuations in the field of transport accidents. Contingent Valuation, Transport Safety and the Value of Life provides an overview of the experiments conducted in Europe (Denmark, France, the U.K., Sweden and Switzerland). While a number of contributions are critical, others show how the estimates obtained in the area of road transport can be used to assess the adverse health effects of other causes, such as public transport accidents or air pollution.

... contributing scholars consider the impact that government regulations, policies and other forces--including innovation, tax reform, employee disincentives, academic partnerships, the costs of complying with government stipulations--have actually had on small business growth. Based on an examination of policy efforts in the late 1980s, the book attempts to reveal the changing emphasis in the nature of the debate regarding small business in today's economy. "Entrepreneurial Economy RevieW"

"Small Business in a Regulated Economy" is the first comprehensive exploration of the impact that government regulations, policies, and other forces have on the formation and growth of small business in the United States. A collection of original essays by distinguished scholars, the book makes an important contribution to business literature by raising fundamental issues related to small business operating in a regulatory economy, identifying the implications of public policies which inhibit or encourage small business growth and development, and defining the nature and character of the policy area. In addition to thoroughly examining the role that government has played in small business regulation, the contributors also make suggestions and recommendations concerning the role government should play in the future to spur small business growth and success.

The format of this monograph is three essays, which we arrived at after spending a year writing over one hundred pages of what we even tually realized was a tedious reworking of old material. So we started over determined to write something new. At first we thought this approach might not work as a coherent mono graph, which is why we chose the essay format rather than chapters. As it turns out, there is a common thread-namely the directional distance function, which also gave us our title. As you shall see, the directional distance function includes traditional distance functions and efficiency measures as special cases providing a unifying framework for existing productivity and efficiency measures. It is also flexible enough to open up new areas in productivity and efficiency analysis such as environmen tal and aggregation issues. That we did not see this earlier is humbling; a student at a recent conference raised his hand and asked 'Why didn't you start with the directional distance function in the first place? In deed. This manuscript is intended to make up for our earlier oversights. This monograph contains papers coauthored with Wen-Fu Lee and Osman Zaim and one paper written by two former students, Hiroyuki Fukuyama and Bill Weber. We thank them for their contributions. An other former student, Jim Logan (Logi) read and critiqued the manu script for which we are grateful."

U.S. firms doing business in Germany are succeeding far better than usually reported. Indeed, 14 of the top 1,700 American companies with direct investment in Germany placed among the top 100 German industrial firms in sales in 1994, a fact that made big news in Germany but was never mentioned in the U.S. press. Here now, in one succinct, readable volume, is all of the vital information that American companies, and companies elsewhere, will need to enter and succeed in this lucrative German market. Certainly there are drawbacks, but attorneys James A. Hart and Dieter Schultze-Zeu make clear there are significant advantages as well, and in certain important ways it may be even easier to do business there than in other major industrial countries such as Japan.

The authors look carefully at the scope of U.S.-German business, and then compare the three economic superpowers -- Germany, Japan, and the United States -- in terms of such variables as gross domestic product, economic growth, and industrial production. They review the political, economic, and social considerations that have emerged from the unification of West and East Germany, and show their effects on the ways in which business in Germany is now done. They examine the principle methods of selling to Germany, the impact of the German government and legal system on American businesses. Then they discuss in detail specifics such as the legal forms of business, Germany's accounting and tax laws, and laws relating to product liability, anti-trust, labor, and social security. Also covered are the German banking and accounting systems, stock markets, and the presence of U.S. commercial banks in Germany. Of special interest are case histories of several important U.S. companies doing business there. An exceptionally useful guide for corporate executives, attorneys, and a cogent introduction to the German business environment for students, researchers, and analysts in the academic community.

This book discusses both competitive and game theory models of industry growth through new technology, innovations and new entry, and provides a comprehensive treatment of various dynamic models of entry, applications of efficiency and entry models in computers and the pharmaceuticals industry, and applied models of Differential Games. The book analyzes the theory of Schumpeterian innovations and its impact on the selection and adjustment process in industry evolution, and emphasizes the applied and empirical aspects of evolutionary dynamics, with a case study of the computer industry over the years 1985-2000.

Most macroeconomists agree that we live in the age of microfoundations. The recent worldwide financial crisis may have emboldened critics of this microfoundational orthodoxy, but it remains the dominant view that macroeconomic models must go beyond supply and demand functions to the level of individual decision-making, taking into account the general dynamic environment where agents live. Microfoundations Reconsidered seeks to reassess how the relationship of micro and macroeconomics evolved over time. The highly regarded contributors to the book argue that the standard narrative of microfoundations is likely to be unreliable. They therefore re-examine the history of the relationship of microeconomics and macroeconomics, starting from their emergence as self-consciously distinct fields within economics in the early 1930s. They seek to go beyond the conventional history that is often told and written by practicing economists. From different perspectives they challenge the association of microfoundations with Robert Lucas and rational expectations and offer both a more complete and a deeper reading of the relationship between micro and macroeconomics. Microfoundations Reconsidered is a valuable addition to the macroeconomic research literature. It is ideally suited to students, scholars, researchers, and practitioners with an interest in macro and microeconomics and the history of economics. Contributors: M. De Vroey, P. Garcia Duarte, D.W. Hands, K.D. Hoover, R. Leonard, G.T. Lima, P.E. Mirowski

Turkey is an attractive location for Western foreign investment because of its emerging role as a springboard for foreign companies to access the newly emerging markets of Central Asia via entering joint ventures with Turkish partners. Turkey's own emerging potential and its market attractiveness for an incremental share of world foreign direct investment (FDI) inflows have also been confirmed by the U.S. government, designating the country as one of the ten Big Emerging Markets along with China, India, Russia and Brazil, which are expected to offer the greatest commercial growth opportunities in the 21st century due to their high economic growth and rapidly growing population. Tatoglu and Glaister provide an empirical analysis of the core dimensions of FDI activity based on primary data collected from Western multinationals engaged in either wholly-owned subsidiaries or joint ventures and from local Turkish firms which are the partners in joint ventures in Turkey.

Written for scholars and students of international business, global management, and strategic management, as well as for executives who are actively pursuing international market opportunities and managers in Turkish firms seeking joint venture partners, this book provides a timely account of the key facets of Western FDI activity in Turkey. Tatoglu and Glaister analyze location specific influences, strategic motives, partner selection criteria in joint ventures, management control issues and performance.

Heinrich von Stackelberg's book, "Grundlagen einer reinen Kostentheorie," published in 1932 was at the forefront of a growing conceptual revolution in the theory of the firm, a theory which appears more relevant than ever in today s economic climate. In this work, Stackelberg masterfully built a theoretical framework which he later developed in Market Structure and Equilibrium.

Foundations of a Pure Cost Theory represents the first translation of the original German version into English. This substantial book offersreaders a critical and technical understanding of the firm, how firms functionand the environments in which they operate. Fundamental notions of cost production, market economy, optimum position and velocities of production are given prominence. Ultimately, this work, which remains largely unknown, can be seen as a milestone text in our understanding of the strategies adopted by firms as a whole.

The book has been meticulously translated from the German into English, retaining the author s examples in their historical context and capturing the spirit of the time with all its subtlety and significance."

National security questions are fundamentally economic. National governments have at their disposal many economic instruments used for national security such as economic sanctions and foreign aid, international trade, international finance and efforts to attack the sources of funding for international terrorism. This book examines the economic policies at available to a head of state and addresses how best to measure the success of these tools. Detailed case studies throughout the book allow readers to understand the decision-making process and how to craft policies designed to influence specific outcomes.

Restructuring Eastern Europe brings together a distinguished group of scholars and experts who discuss the transition process in Eastern Europe at the microeconomic level. The restructuring and privatization of enterprises has not kept pace with the macroeconomic success that has been achieved in some formerly centrally planned countries. The contributors discuss the ideological, institutional, socio-political and financial problems resulting from the transition process. New insights into complex microeconomic issues such as the dispersion of foreign direct investment, privatization and company management, entrepreneurship and supply-chain development are also discussed. Special attention is paid to the roles of corporate governance, technological integration, the role of environmental and regional policies and the reform of the banking system. This innovative book presents a comprehensive overview of the varying levels of success of the policies of different countries. It will prove invaluable to research scholars, postgraduate students and officials in government agencies concerned with restructuring the economies of Eastern Europe.

A long-standing unsolved problem in economic theory is how economic equilibria are attained. Price Dynamics in Equilibrium Models: The Search for Equilibrium and the Emergence of Endogenous Fluctuations considers a number of adjustment processes in different economic models and investigates their dynamical behaviour. Two important themes arising in this context are bounded rationality' and nonlinear dynamics'. Important sub-themes of the book are the following: how do boundedly rational agents interact with their environment and does this interaction in some sense lead to rational outcomes (which may or may not correspond to equilibria)? The second sub-theme deals with the consequences of the nonlinear dynamical nature of many adjustment processes. The results presented in this volume indicate that endogenous fluctuations are the rule rather than the exception in the search for equilibrium. The book uses the theory of nonlinear dynamics to analyze the dynamics of the different economic models. Due to the complexity of most of the models, an important role is played by computational methods. In particular, at regular instances the models are analyzed by numerical simulations and some computer-assisted proofs are provided. It also covers a wide range of dynamical models from economic theory. Most of these models merge the theory of nonlinear economic dynamics with the theory of bounded rationality. The book is written for anyone with an interest in economic theory in general and bounded rationality and endogenous fluctuations in particular. It is entirely self-contained and accessible to readers with only a limited knowledge of economic theory.

This important book provides a systematic and quantitative analysis of the development of the software industry: the major growth industry in advanced economies of the world. It presents the results of a comprehensive set of industry surveys to shed light on the differences in specialization and performance of US and European software firms. Salvatore Torrisi analyses the development of the software industry within the context of theories of technical change. He interprets exhaustive surveys of firms participating in software industries conducted between 1990 and 1997. These reveal the main characteristics of innovation activities in software, including the characteristics of product and process innovations, the sources of technological change within firms, the instruments for the protection of innovation and the nature of innovative skills. The author also compares the historical evolution of software activities in Europe and in the United States and explains the differences in specialization and performance in terms of the geographical proximity to leading hardware manufacturers, the size of the domestic market, regulation and public policies, including property rights and anti-trust. This unparalleled book will be required reading for academics interested in industrial organisation and the economics of innovation.

Microeconomic Theory is a modern treatment of the neoclassical paradigm which is essential for understanding microeconomics. The author has carefully applied this theory in a non--mathematical and intuitive way. The special features include: aeo emphasis on the nature of the neoclassical paradigm aeo introduction to game theory aeo minimal mathematical content aeo intuitive exercises and examples aeo written in a concise format This book is one of the more simple yet focused texts available for Microeconomic theory. It is geared for first year graduate students of economics.

This volume brings together leading economists in the UK to address the issue of the sustainable use of the natural environment. The result is a set of original essays which reappraise the 'no growth' debate, investigate the new environmental ethic being built on the concept of sustainable development, look at the way in which projects with major environmental consequences should be evaluated, and ask how future generations are to be represented in economic evaluation.

This scholarly yet accessible book provides an introduction to the main topics in production economics. The book successfully integrates two historically distinct perspectives on modeling technology: from microeconomics and engineering.

The book discusses the mechanisms by which securities are traded, as well as examining economic models of asymmetric information, inventory control, and cost-minimizing trading strategies.

To date, the formulation of a systematic theory of the organization of markets has proved to be a difficult task and remains unfinished. Nevertheless, explanations do exist as to why, under given conditions, the basic activities of trade are organized in one particular fashion rather than another. This invaluable collection of essays brings together important papers by authors working in the tradition of the new institutional economics. The editors have provided an original introduction which presents a comprehensive overview of their selection. The volume is an essential source of reference and an excellent resource for economists, students of public policy, sociologists, political scientists and legal analysts.

This book aims to explain to the readers the basic idea of the general equilibrium theory, which forms the core of the current mainstream economics called neoclassical school. To understand this theory is absolutely necessary, either to study further or to criticize the contemporary economic theories. The author not only explains traditional theories, but also makes clear the many problems which are still unsolved.

As a text book or reference book for those students who are studying microeconomics for the first time, the author recommends the use of Chapter 1, Chapter 2 (except section 9), Chapter 3 (from section 1 to section 3, section 6, section 11), Chapter 4 (from section 1 to section 4), Chapter 5 (from section 1 to section 5, section 8), Chapter 6 (except sections 6 and 7), Chapter 7 (from section 1 to section 5), Chapter 8 (from section 1 to section 6) and Chapter 9 (sections 1, 4 and 7). For more advanced readers, the author recommends the remaining sections and the literature recommended in the last part of each chapter. Problems given at the end of each chapter allow readers to confirm understanding of the content of the chapter and suggest to the readers more advanced studies. Incidentally, the author tried to avoid the use of the advanced mathematics. Onlyelementary knowledge ofdifferential calculus and linear algebra are required to read this book."

Productivity Change, Public Goods and Transaction Costs presents in one definitive volume a selection of Yoram Barzel's acclaimed articles and papers. It will improve access to his many important contributions and reveals how his research interests have evolved over more than three decades. Focusing upon issues in microeconomics, this volume features pathbreaking articles and papers on production functions and productivity, optimal timing, labour, public choice, industrial organization, demand analysis, and property rights and transaction costs. Key contributions featured in this collection include 'Some Observations on the Index Number Problem', 'An Alternative Approach to the Analysis of Taxation', 'An Economic Analysis of Slavery' and 'Measurement Cost and the Organization of Markets'. As an introduction to this volume, Professor Barzel has prepared an autobiographical sketch in which he discusses his education, the development of his ideas and influences such as Don Patinkin, Douglass North and Aaron Director.