This book explores the new economics of monetary union. It carefully discusses the effects of shocks and policies on output and prices. Shocks and policies are country-specific or common. They occur on the demand or supply side. Countries can differ in behavioural functions. Wages can be fixed, flexible, or slow. In addition, fixed wages and flexible wages can coexist. Take for instance fixed wages in Germany and flexible wages in France. Or take fixed wages in Europe and flexible wages in America. A special feature of this book is the numerical estimation of shock and policy multipliers. Further topics are inflation and disinflation. Take for instance inflation in Germany and price stability in France. Then what policy is needed for disinflation in the union? And what will be the dynamic effects on Germany and France?

Regional integration has emerged as one of the most important developments in recent world politics. In this book Walter Mattli examines integration schemes in nineteenth- and twentieth-century Europe, but also in Latin America, North America and Asia since the 1950s. The book stresses the importance of market forces in determining the outcome of integration, but also highlights the impact of institutional factors. The book will provide students of political science, economics, and European studies with a new framework for the study of international cooperation.

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.

When and why did the United States policy of containment of Iran come about? How did it evolve? Where is it going? Much has been said about the US policy of dual containment, particularly as it pertains to Iraq. However, there has been little in-depth analysis of this policy when it comes to Iran. Sasan Fayazmanesh explores this often neglected subject by analyzing the history of this policy. The analysis includes the role that the Carter and Reagan Administrations played in the Iran-Iraq war, the numerous sanctions imposed on Iran by the Clinton Administration and the aggressive and confrontational policy toward Iran adopted by the George W. Bush Administration after the events of September 11, 2001. This topical read synthesises a range of primary sources, including firsthand reports, newspaper articles and electronic media, and presents a coherent analysis of the ebbs and flows in the US thinking on Iran and Iraq.

With much of the "Asian Miracle" destroyed and much of the Western world's awe for Asian ways of management dissipated, organizations there are changing with such speed that most of our knowledge about them is quickly outdated. Richter takes stock of East Asian management practices, as they are perceived so far, and he discusses the strategies that others propose to help Asian management redesign itself for the future--including a long-term agenda for change based on the cultural heritage of Confucianism. He analyzes the cultural underpinnings of Asian management practices, evaluates the influence of the Asian economic crisis on them, and discusses their potential for guiding Asian firms to a sustainable competitive advantage. He then provides examples of how Asian firms shape up their organizations and describes a short-term agenda to fix the weaknesses in Asian management, at least temporarily. Throughout, Richter avoids talk about "strategic management" as merely a theory: he adopts a broader definition that includes a value system to guide East Asian firms as they re-emerge and redevelop. The result is a challenging, intensely pragmatic analysis for decision-makers at all levels, in all countries and cultures, and it is a new stone in the foundation of academic research and thought. Richter opens with a discussion of the legacy of Confucianism and its impact on Asian management practices. He then proposes three intrinsic characteristics of Asian management: networks, trust, and collectivism. He gives a history of the Asian economic crisis, highlighting the failures of Asia's economic development and the flaws that appeared in its management practices. The third section of the bookevaluates management practices that have emerged since then, and how they are perceived so far. Then, in the concluding section, he presents a new perspective on Asian management, short-term goals (fixing current management weaknesses), and long-term goals (incorporating its long abiding strengths). Throughout, Richter draws on the management theory enunciated by Hofstede and includes examples and case studies of recent developments across the region, and he also includes his own theories as well as those of others. Mr. Richter's book will be a welcome addition to the literature on business and the culture of Asia.

In what ways did economic considerations affect the decision by Britain and France to make their Black African colonies independent? Why were early expectations that independence would lead to rapid and sustained economic development in Africa for the most part disappointed? This title, originally published in 1986, seeks to tackle these two important and strongly debated issues. The main aim and value of the book is to take a broad view of this huge subject, pulling together material on most parts of Black Africa south of the Sahara and north of the Limpopo so that the problem can be seen as a whole. It takes account of a wide range of possible and actual factors which have influenced African economic development, weaving them into a single analysis, including the colonial inheritance, the impact of the fluctuating international economy, policies adopted by African governments and indigenous factors such as climate, drought and human resources. The book is written to be understood without difficulty by non-specialists and is intended to act as an introduction to its subject for university students.

First published in 1971, this is a study of the application of the economic theory of integration in developing countries attempts to assess the development of common markets and free trade areas in the contemporary developing world. The book synthesises various revisions of the old theory of the customs union, tackling the process of elaborating an appropriate theory for developing countries. The reissue will be of interest to those concerned with International Trade and Development Economics, as well as those interested in the development of the Caribbean region.

This volume, first published in 1982, is a collection of original essays written to honour Professor W. Arthur Lewis, 1979 co-winner of the Nobel Prize in economics. The authors, an international group of distinguished scholars, address a varied set of specific issues reflecting Professor Lewis' research interests, covering topics which include: technological change in agriculture, analyses of unemployment and income distribution, the role of government policy in the development process, the historical record of development, and the relationship between developed and developing nations. The book will be of interest to both the academic researcher and practicing professionals in the international organisations and national governments, and are particularly appropriate to graduate courses in economic development, cost-benefit analysis and economic history.

First published in 1968, this reissue is a study of contemporary international economic policy, with particular emphasis upon economic integration as a means of bringing about a faster rate of economic progress and of helping to overcome poverty. Peter Robson's book is a study of the rationale of common markets and other forms of economic integration among African states and of their operation in practice. The book will be of great value to those concerned with administering or assessing integration schemes in Africa and indeed in less developed areas throughout the world. In addition, it is an important contribution to the field of development economics.

This book discusses the idea that there is a specific Islamic form of entrepreneurship. Based on extensive original research amongst small and medium sized enterprises in Saudi Arabia, it shows how businesses are started and how they grow in the context of an Islamic economy and society. It argues that as specific Islamic approaches to a wide range of economic activities are being formulated and implemented, there is indeed a particular Islamic approach to entrepreneurship.

Examining the relationship between Islamic values and entrepreneurial activity, the book considers whether such values can be more effectively used in order to raise the profile of Islamic entrepreneurship, and also to promote alternatives to development in the contemporary business environment. The book analyses the nature of entrepreneurship, and the special qualities of Islamic entrepreneurship, and discusses how the Islamic approach to entrepreneurship can be encouraged and developed further still

This volume rests on three thematic pillars: the limits of conventional macroeconomics; the long-run agenda of structural transformation and the development of capabilities. Islam and Kucera highlight the tenuous links of conventional macroeconomics with core development concerns. The chapters of this book enunciate an empirical approach to track the various sources of structural transformation and nurture the thesis that investment in infrastructure leads to the inculcation of capabilities, broadly defined to include knowledge accumulation, dissemination and application. The editors reinterpret social protection from the perspective of inclusive development and structural transformation. The volume examines secular trends in the functional distribution of income and explores their possible macroeconomic consequences by developing a two-country macroeconomic model for open economies. It seeks to establish whether growing inequality in many countries combined with stagnant real incomes is one of the sources of the global and financial crisis of 2007-2009.

This book examines how the US is dealing with the challenge of reconciling its global interests with regional dynamics and how it is able to produce and sustain order at the system level and within regional subsystems. The book comprises four parts, the first of which addresses global issues such as nonproliferation, trade, and freedom of the seas. US policies in these areas are carefully analyzed, considering whether and how they have been differently implemented at the regional level. The remaining parts of the book focus on the US posture toward specific regions: Europe, the Middle East, and East Asia. The policies adopted by the US to confront the most relevant challenges in each region are identified, and the ways in which policies in a specific region influence or are influenced by challenges in another region are explored. The book is a rich source of knowledge on the nature of the balance that the US has pursued between global and regional interests. It will be of much interest to scholars, to practitioners, to postgraduate/PhD students of international relations theory and American foreign policy, and to all with an interest in the ability of the US to produce international order.

This reissue, initially published in 1977, is an introduction to contemporary trading positions and problems of developing countries. The authors examine the main export options of Third World countries and consider the roles of the key international organisations -- GATT, UNCTAD, etc -- and those of national governments and foreign investors. The authors complete their review with an examination of the way in which numbers of developing countries have tried to diversify their trade relations, particularly by creating Third World trading groups. Contemporary economic difficulties and their impact upon the Third World is also discussed, with the authors displaying a guarded optimism about real changes in world economic relations, citing factors such as the spread of trade among developing countries and the increase processing of raw materials as potential for the wider participation of developing countries in international trade.

This reissue, initially published in 1984, examines the evolution of international financial flows to Latin America since 1945, along with their implications for National Development . The book describes how, in each of the first three decades since the war, a new agency emerged (foreign investors in the 1950s, official aid agencies in the 1960s and multinational banks in the 1970s) which was willing to play a dynamic role in generating new financial flows to the region. The lack of such an agent in the 1980s, combined with a reluctance on the part of former investors to maintain their level of assistance culminated in an economic debt crisis in Latin America which this work seeks to address, asking the crucial question: what measures should be taken -- both nationally and internationally -- to deal with this critical issue, in a way that will both encourage Latin American Development and avoid a major international financial crisis?

The financial integration of the countries of Central and Eastern Europe and the Commonwealth of Independent States was arguably one of the most profound changes experienced by the world economy in the 1990s. This book examines these countries in reforming their financial systems in the fist decade of transition. Through case studies as well as more thematic approaches contributors deal with crucial elements of building a market based financial system, the transformation of the banking sector, and non-bank reform and regulation of financial markets. They emphasize the importance of institution-building to the process of financial sector transformation and highlight the lessons to be learned from transitional financial experiences.

"Rules of origin have emerged as one of the most controversial issues in any trade negotiations. This book analyzes the economics of rules of origin in regional trade agreements. It critically evaluates the empirical aspects, providing fresh perspectives on complex policy-negotiations and rules of origin implementation"--

In this timely and controversial book, economist Deepak Lal explores the twin themes of empires and globalization and discusses the place of the US in the current world order. In Praise of Empires argues that not since the fall of the Roman empire has there been a potential imperial power like the United States today, and asks the question: Is a US impirium needed for the globalization which breeds prosperity? What form should this empire take - a direct 'colonial' or 'indirect' empire? Will America be able and willing to run an empire? Lal explores the Islamic threat to the position of the US and the current 'war on terror'.

Japan's arrival since World War Two as a major industrial nation has meant that she has had to bear a greater share of the developed world's contribution to the developing nations and foreign aid has become an integral part of foreign policy. This book describes the roots of Japan's aid policy and shows that this side of her international economic policy is based largely on domestic conditions, structures and forces. To understand the pattern of Japanese aid as it stands today, it is important to appreciate the complexities of the Japanese decision-making process. This book clearly explains the patterns of Japanese aid policy-making.

This volume concentrates on the effect of Japanese trade competition on the UK and Europe, it also provides an illuminating picture of political, social and military conditions in Japan in the early twentieth century.

Japanese participation in British industry has increased greatly in recent years. While the new investment is welcomed for the jobs it helps create and the injection of new technology and managerial techniques, many people are fearful lest this increased participation should lead to loss of control of British industry by British nationals and adversely affect British competitors and their struggle for global markets. These concerns are made worse by lack of knowledge about just how extensive Japanese managerial participation in British industry is and about how Japanese practices differ. This book, based on extensive original research, answers these and related questions. It is the first detailed study of the extent of Japanese participation in British industry, and of its economic impact in a number of key areas.

President Nixon's new economic policy of August 1971, aggravated by the oil problem since October 1973 caused chaos and uncertainty in the international trade and currency system. There were fears of another 1930s style depression. In addition, a world food shortage and strident claims by developing countries for perpetual sovereignty over resources added another set of difficulties. This volume, written from Japan's standpoint, suggests a new direction for the world and regional economic order. The book tackles two major issues in international economics: Firstly, traditional international trade theory aims only at static maximization in the use of world human and material resources, but, the author stresses more attention should be paid to such dynamic or developmental elements as population growth, immigration, natural resource development, improvement in transfer of technology, economies of scale, direct foreign investment and economic integration in order to create development centres or sectors in the world economy. Secondly, the author discusses how to combine a global and regional approach to economic integration.

This study describes the British government's policy towards China during the first phases of the undeclared Sino-Japanese war, starting in July 1937 when the conflict in North China culminated in all-out hostilities; and ending in September 1939 when the outbreak of the war over Poland forced the British government to turn almost all its attention to Europe. The dilemmas confronting British policy-makers in the Far East are analysed together with the implementation of their subsequent solutions. Attention is focused on the question of British interests in China and on the decisive factors and considerations which determined British policy and Britain's role in the Sino-Japanese war. Questions concerning the safety of the British subjects and the commercial community in China and their influence on the decision making process, the attitude towards Soviet influence in China and prospects of Communist take-over are also discussed. In the final analysis the book examines the widely debated subject of appeasement in its Asian context. It is argued that Britain pursued a policy towards Japan which gained strength without producing a Far Eastern Munich

This volume examines the issues surrounding the renewal of the Anglo-Japanese Treaty of Alliance and looks at the possible consequences of different courses of action, against a backdrop of a Far Eastern situation under constant change. In spite of claims of impartiality, this volume represents widely-held views of the day that "the future supremacy of the white races is endangered" and the author claims to have remained as objective as possible, despite "being a member of the Western family of nations against whom the new Japanese peril may come to be directed."

Why are some regions in the European Union 'winners'of economic integration? And why are others 'losers'? This book explores these important questions and examines the relationship between economic integration, regional convergence, and divergence. In doing so it gives an overview of the most recent evolution of regional disparities in the EU. Central and peripheral regions are analysed as well as those in a re-conversion economic process. The authors address the question of whether regions tend to converge or not from different points of view. They particularly assess the impact of the Monetary Union on regional economies from theoretical and empirical approaches. Other important aspects covered include: the European regional policy, the effects of structural funds and the reforms needed. No doubt, this is an excellent book for anybody interested in learning more about regional trends and prospects in an increasingly integrated world.