This unique book provides a comprehensive survey of the major economic issues that have helped shape the modern world. It includes discussions of the latest research findings in the international economic development literature and scrutinises some of the most important debates in contemporary economics. Brian Snowdon examines the many controversies relating to long-run growth and development, problems of transitions from socialism to capitalism, international competitiveness and the impacts of globalisation. To shed light on these critical issues Brian Snowdon interviewed eleven leading economists who are featured in this book: Daron Acemoglu, Alberto Alesina, Padma Desai, William Easterly, Stanley Fischer, Janos Kornai, Michael Porter, Dani Rodrik, Jeffrey Sachs, Xavier Sala-i-Martin and Jeffrey Williamson. Globalisation, Development and Transition provides an all-encompassing guide to the contemporary literature on economic development and related fields, as well as an extensive and up-to-date list of references. It will be an essential resource for all scholars and students of economics, especially those with an interest in economic growth and development, economic history, trade and globalisation, and the economics of transition.

International Economics: Global Markets and Competition integrates the microeconomics of international trade with open economy macroeconomics and finance. The theory is comprehensive but presented with intuitive diagrams. The book emphasizes the gains from international competition and the limits of trade policy.Economics began during the Industrial Revolution with a debate over import tariffs. To this day, domestic industries lobby for tariff protection against foreign competition, paying lawmakers for tariffs on imports. Only under special conditions do tariffs lead to economic gains. Domestic importers of materials and industrial products favor free trade, as do export industries since tariffs encourage other countries to retaliate with tariffs of their own.Trade theory includes market analysis and general equilibrium models of the economy. This text integrates the full range of trade theory with exchange rates, balance of payments, international finance, and open economy growth and macroeconomics.The presentation focuses on diagrams and avoids equations and algebra. The theory is presented with numerical examples. The text does not assume intermediate economics, instead developing the theory with thorough explanations. Questions in each section build confidence in applying the theory. Boxed examples illustrate the importance of the theory.Students like the concise and straightforward style. Instructors notice the difference on exams.

The G20 meeting in London in spring 2009 was a historical moment of global cooperation to deal with the global financial crisis. This book collects essays from leading economists, first presented as an eBook in January 2009, advocating many of the policies that were eventually agreed on, including the headline-grabbing global fiscal stimulus. But it goes further, calling for: / Reforms to address global imbalances by a) creating insurance mechanisms for countries that forgo reserve accumulation and stimulate domestic expansion; and b) accelerating the development of financial systems in emerging markets. / Macroeconomic policy to meet any threat of deflation promptly, with a zero interest rate policy and quantitative easing, and an inflation target to avoid expectations of deflation. / Adjustment of the Basel II capital requirements to mitigate procyclicality. / Creation of a centralised clearing counterparty for credit default swap trades. / Severing the link between credit rating agencies and issuers and monitoring the former's power. / Establishment of a harmonised bankruptcy regime for banks that gives regulators strong powers over bank managers and shareholders before the bank is technically insolvent, especially in the case of cross-border banks. / Creation of an International Financial Stability Fund that takes equity positions in the financial institutions of participating countries and monitors their activities. Many of these suggestions are still being debated today.

This book focuses on the development of strategies for the successful internationalization of large and medium-sized companies. Becoming international offers important opportunities for companies of all sizes, but in an increasingly complex environment, the strategic planning involved is also a challenge. The book addresses this, putting forward suggestions that allow large and medium-sized companies to profit from internationalization. After a comprehensive introduction to internationalization and strategic planning, the authors make clear recommendations, suggesting detailed processes for developing international strategies. The book distinguishes between going global for new markets and internationalizing production and sourcing. For both, the book proposes procedures for performing meaningful strategic analyses and for developing successful international strategies. Lastly, it highlights the challenges faced by international companies and discusses useful decision processes. The book offers valuable insights for company executives, participants in Executive MBA programs, and master's students.

This book explains what the internationalization of banking and finance means, and examines its extent and the reasons it has developed. The advantages and disadvantages of the new situation-and what is yet to come-are neatly sketched, along with the policy problems for national governments and international bodies.

This book explores the impact of the rise of China on South East Asia, addressing the consequences for some of Asia's key economic sectors, including educational services, bio-technology, financial services, and the food industry, among others.

The book builds on an important emergent body of discussion which questions, both empirically and theoretically, the conventional neoclassical doctrine that economies are more efficient if the state withdraws from it. It develops a "space-time" approach to state theory as a way of explaining development outcomes in the global economy as the latter increasingly shifts to what is referred to as "knowledge capitalism". It examines two global cases - Finland and China - as expressions of two broad models of successful development punctuated most recently by successful responses to the Covid-19 pandemic. It also contrasts both cases with the unsuccessful development of Brazil and Argentina toward "knowledge capitalism" and the ramifications of that for their efforts to combat Covid-19. This book will be of interest to academics in economics, politics and international relations.

International business (IB) research on Asian firms is on the rise, focusing on Japan, China and other countries and potentially enriching theory development and practice. The rise of Asian firms has challenged conventional theories and provided opportunities for IB researchers to address several paradoxical issues such as ownership advantage, risk-return, and the flying geese hypothesis. Moreover, researchers would benefit from paying attention to multi-level analysis, the role of history 'vis-a-vis' culture, and the variance across countries at different levels of economic development. Multinationals and Global Consumers is a collection of articles written by leading scholars on IB research in Asia and addresses some of these problems in several key areas of IB research including Multinationals and Organizational Management, International Business and FDI, Marketing and Consumer Behavior, and furnish meaningful implications for practice and future research.

This book studies the international coordination of monetary and fiscal policies in the world economy. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on monetary and fiscal competition between Europe and America. Similarly, as to policy cooperation, the focus is on monetary and fiscal cooperation between Europe and America. The spillover effects of monetary policy are negative while the spillover effects of fiscal policy are positive. The policy targets are price stability and full employment. The policy makers follow either cold-turkey or gradualist strategies. Policy expectations are adaptive or rational. The world economy consists of two, three or more regions. The present book is part of a larger research project on European Monetary Union, see the references at the back of the book. Some parts of this project were presented at the World Congress of the International Economic Association in Lisbon. Other parts were presented at the International Institute of Public Finance, at the Macro Study Group of the German Economic Association, at the Annual Meeting of the Austrian Economic Association, at the Gottingen Workshop on International Economics, at the Halle Workshop on Monetary Economics, at the Research Seminar on Macroeconomics in Freiburg, and at the Passau Workshop on International Economics.

An examination of how corporate governance institutions affect firms' internationalization strategies, exploring how corporate governance is linked to international business.This book provides key insights into the way in which corporate governance and international business could be usefully linked. It is based on the best papers presented at the 34th AIB-UK conference. It is international in scope. It is the first of its kind to focus on how corporate governance factors impact upon firms' strategic decisions, and upon how firms organize and manage their activities across national boundaries.Bringing together a number of leading scholars and pioneering research, this volume explores the links between corporate governance and international business, and demonstrates how corporate governance influences the attractiveness of host countries to inward investors, as well as the internationalization strategies of MNEs themselves.

The violent fluctuations of the Japanese Yen through the 1980s and 1990s have played a critical role in Japan's economic decline. Brendan Brown highlights the causes of the yen's bizarre behavior, and analyzes the consequences for the Japanese and global economies. Through this analysis he presents an original hypothesis, linking the periodic sharp upswings of the Yen to poor economic performance and offers a new view as to where the responsibility for failure of the Japanese currency market to function normally lies.

This book compares the different expressions of, and outcomes from, banking nationalism in two European countries to draw wider conclusions about the consequences for Banking Union in Europe and to show how national governments deal (or fail to deal) with international commitments. It reveals how and why one case - Spain - managed to tackle failing banks within EU Banking Union regulations even before they became written in EU law, while the other - Italy - had more persistent problems. The book argues that Spain demonstrates a successful case of liberal economic nationalism, typified by aggressive, early state intervention to restructure Spanish banks, and help from the European Stability Mechanism even in the face of local political opposition. Italy, meanwhile, suffered from the weaker, delayed intervention which forced it to confront European institutions with demands for special treatment as a means of externalizing its own internal weakness. This book will be of key interest to scholars, students and professionals in economic policy, Economic and Monetary Union and Banking Union in Europe, European and global governance, European/EU studies, European public policy, European public administration and EU law, as well as professionals working in the banking sector.

The Politics of Global Debt is a detailed political analysis of the origins and consequences of the `global debt crisis' which emerged in the early 1980s. It assesses both `imperialist' and `New Right' interpretations of the crisis, and also presents a series of case studies of the effects of external debt upon Africa, Latin America, Eastern Europe and Asia. The book focusses upon the `sovereign debt' of states, and its management, and examines the ways in which global economic structures, inefficient policies, weak institutions, and corrupt political leaders contribute to a global debt crisis which has both international and domestic roots.

To what degree are trade liberalization, productivity, and economic growth correlated? Can economic policies designed to encourage competition and curtail industry protection result in large-scale improvements, such as increased innovation and reduced unemployment?

After 20 years of economic reform in the Middle East and North Africa (MENA), economic performance is still lagging behind many regions of the world. Even in those countries that are the most advanced in implementing reforms, including Egypt, Jordan, Morocco and Tunisia, industries with low productivity growth and high market power continue to dominate. Moreover, the termination of the Multi-Fiber Agreement and the negotiations concerning further liberalization of trade in agricultural products (under the framework of the World Trade Organization) put these and other countries under pressure of fierce competition from emerging nations.

Recent empirical evidence on the impact of reforms in a number of developing countries shows that such persistence of inefficiency and market power is specific to MENA. Showcasing in-depth analyses from Jordan, Morocco, Tunisia, and Turkey (with comparative data from Asia and Latin America), this book focuses on the dynamics of firm entry and exit to help explain the low productivity of the region. The results suggest a number of policy recommendations designed to foster competition, which, in turn, would contribute to innovation, productivity growth, and improved return on capital investments. The book not only reveals important correlations among policy and market factors in MENA, but suggests fruitful areas of research in other developing regions of the world.

The analysis in this book reflects various aspects of financial sector transformation in selected Central European countries that are expected to join the EU in 2004. The authors are Central European financial experts who provide, among other things, a detailed overview of the following main topics: Banking Regulation and Supervision; Concentration and Efficiency of the Banking Sectors; Financial (banking) crises in selected Central European countries; and Monetary and Exchange Rate Development. The results of the research done by these authors reflect an interesting fact: that there exist important differences in the financial sector development even in the relatively homogeneous group of selected Central European countries, namely the Czech Republic, Poland, Slovakia and Hungary.

This book addresses three big economic challenges from a dynamic perspective: European integration, economic growth, and global climate change. In the light of the recent crises of the European Union (EU), the first part of the book deals with challenges to the real, monetary and fiscal integration of the EU and required institutional adjustments. The second part of the book addresses fundamental challenges of advanced market economies like economic growth and changes of technologies. The final part focuses on the global challenge of climate change from an economic perspective and discusses policy strategies for a successful mitigation of climate change.

The growth and impact of the multinational enterprise (MNE) in the post war period is one of the most important phenomena of our time. This volume, originally published in 1981 provides a comprehensive and detailed review of both the theoretical and policy issues at a time when the subject had reached a watershed, after the controversies of the 1970s. The book provides a balanced discussion of major themes such as the development of modern theories of international production; the impact of the MNE on the nation-state and the structure of the international market; the response of governments and the appropriate framework for policy measures; and the historical context and likely future of the MNE.

This volume examines how joint ventures work in practice. Drawing on extensive personal experience and using case study examples where appropriate, the author analyses the various stages, discusses the problems of partner selection, implementation and control and points out the various benefits and pitfalls. He draws out the implications for improving practice and discusses how the experience of joint ventures affects the theory of the multinational enterprise.

In this book leading contributors look at the development of the evolutionary approach to international business, the internationalization of service industries and the implications of the changing face of Europe for international business in the 1990s. Providing an excellent blend of theory, analysis and case-study material, this volume is a vital resource for students of international business and related fields.

The book focuses on the major environmental implications stemming from the growth of the multinational enterprise in a multiple currency world; the international transfer of technology; industrial relations and labour utilization in foreign-owned firms in the UK; multinational companies and trade union interests; foreign direct investment, the balance of payments and trade flows; the multinational enterprise and developing countries; government policy alternatives and the problem of international sharing and a case study of a multinational enterprise in Europe. A survey of the background to the multinational enterprise and concluding summaries ensure that this book is one of the most widely embracing volumes available on the subject.

Aimed at senior undergraduate and post-graduate students following courses in International Business and Industrial Relations this book examines the labour market effects of multinational business. In reflecting the complexity and dynamism of developments in this area, the book makes clear the need to underpin analysis of the labour market effects of multinational business with conceptual understanding of the theory of multinational enterprise.

Is the transnational coporation (TNC) an engine of growth capable of eliminating international economic inequalities or a major obstacle to development through a massive drain of surplus to advanced countries? This book presents five different perspectives on the role of TNCs: Neo-Classical Global Reach Neo-Imperialist Neo-Fundamentalist Internationalization of capital The author looks at their effect on local labour and capital, and considers the future prospects for TNC involvement in the Third World. The book provides an excellent comparative analysis of TNCs and will appeal to students in development studies and international economics.

This book examines the international technology transfer process and the role of both multinationals and host-country governments in that process, with emphasis on the experience of the more developed countries. It explores a range of issues and presents much original thinking and research findings. It discusses in particular the strategies of the multinationals, assessing how far they are willing to accept technology transfer to external partners (as opposed to subsidiaries which they can control). It also examines how far technical transfers are successful from the viewpoint of the firm and countries involved, arguing that governments are most likely to succeed in attracting multinational transfers if they are aware of and accommodate to some degree multinationals' preferences.

The book discusses the nature of Marxist theory of crisis and applies it to the global financial crisis which began in 2007. Is the contemporary crisis simply the usual periodic upturn and downturn or is there something more fundamental? Is there a structural crisis of capitalism, from which there is no immediate solution? Is capitalism managed and does it have a strategy? Is the financial crisis representative of a failure in capitalism itself to subject banks and other financial institutions to the overall economy? The book discusses Marx's view on crises, as well as ideas on money and finance. It considers the different modern Marxist ideas on the causes of crises - falling rate of profit, disproportionality and underconsumption. It goes into detail as to the nature of the present crisis, its course and causes in a spirited and independent manner. Apart from the United States, it considers the situation in the two countries, in which protests erupted: Iran and Greece. They are taken as examples of the effect of the crisis on the country, the society and the economy as well as its politics. This book was originally published as a special issue of Critique.