This study forms an entirely new area of research on Small Island Tourism Economies (SITEs). It addresses the importance of uncertainty in monthly international tourist arrivals and country risk indicators to the macroeconomy. Conditional volatilities are estimated for international tourist arrivals, and an economic interpretation from the estimated results is provided. In achieving these two objectives, this work presents an extensive assessment of the important characteristics and the impact of tourism in SITEs in relation to their gross domestic product, balance of payments, employment and foreign direct investment, among other factors. This book is unique in giving emphasis to macroeconomic implications rather than an industry focus.The Economics of Small Island Tourism will appeal to academics at the undergraduate and postgraduate levels involved in environmental and tourism management as well as tourism economics.

Environmental, health and sanitary requirements in developed countries are sometimes perceived in developing countries as non-tariff barriers to trade. This book shows that such restrictions are perceived to be more stringent during the domestic production season or when stock levels are high. The authors argue that scientific data for specific thresholds or limit values sometimes appear to be questionable and that they vary widely between countries. In some cases, products that had initially been refused access to a domestic market have subsequently been allowed access but at a lower price. Thus standards are perceived to be a mechanism for bidding down the export price. Countries from the same region with similar water or climatic conditions may be subject to differential degrees of Sanitary and Phytosanitary measures (SPS). Measures to address protectionist aspects of standards must be devised to ensure free and fair trade.The contributors to this book show that there are good reasons for suspecting that these standards could indeed be protectionist. Utilising a wealth of empirical evidence, the book includes case studies written by authors based in the regions and does not fail to address awkward issues such as 'whose standards?', 'why standards?' and whether cartelisation is the consequence of standards. The contributors also address the political economy of standard setting, not simply the technical process, north-south issues and the political economy of organic food markets. Environmental Regulation and Food Safety will appeal to policymakers and NGOs, researchers and scholars of international and development economics as well as industry strategists. Copublished with Canada's International Development Research Centre.

Amidst mounting global policy attention directed toward international migration, this book offers an exhaustive review of the issues and evidence linking economic development in low-income countries with their migration experiences. The diversity of outcomes is explored in the context of; migration from East Europe and from the Maghreb to the EU; contract labor from South Asia in the Persian Gulf; highly skilled migrants moving to North America; and labor circulation within East Asia. Labor market responses at home, the brain drain, remittances, the roles of a diaspora, and return migration are each addressed, as well as an exploration of the effects of economic development upon migration and the implications of long-term dependence on a migration nexus. Robert Lucas concludes with an assessment of the winners and losers in the migration process, both at home and in the destination regions, before summarizing the main policy options open to both. This accessible and topical book offers invaluable insights to policy makers in both industrialized and developing countries as well as to scholars and researchers of economics, development, international relations and to specialists in migration.

The Pacific has long been a space of conquest, exploration, fantasy, and resistance. Pacific Islanders had established civilisations and cultures of travel well before European explorers arrived, initiating centuries of upheaval and transformation. The twentieth century, with its various wars fought in and over the Pacific, is only the most recent era to witness military strife and economic competition. While "Asia Pacific" and "Pacific Rim" were late twentieth-century terms that dealt with the importance of the Pacific to the economic, political, and cultural arrangements that span Asia and the Americas, a new term has arisen-the transpacific. In the twenty-first century, U.S. efforts to dominate the ocean are symbolized not only in the "Pacific pivot" of American policy but also the development of a Transpacific Partnership. This partnership brings together a dozen countries-not including China-in a trade pact whose aim is to cement U.S. influence. That pact signals how the transpacific, up to now an academic term, has reached mass consciousness. Recognising the increasing importance of the transpacific as a word and concept, this anthology proposes a framework for transpacific studies that examines the flows of culture, capital, ideas, and labour across the Pacific. These flows involve Asia, the Americas, and the Pacific Islands. The introduction to the anthology by its editors, Janet Hoskins and Viet Thanh Nguyen, consider the advantages and limitations of models found in Asian studies, American studies, and Asian American studies for dealing with these flows. The editors argue that transpacific studies can draw from all three in order to provide a critical model for considering the geopolitical struggle over the Pacific, with its attendant possibilities for inequality and exploitation. Transpacific studies also sheds light on the cultural and political movements, artistic works, and ideas that have arisen to contest state, corporate, and military ambitions. In sum, the transpacific as a concept illuminates how flows across the Pacific can be harnessed for purposes of both domination and resistance. The anthology's contributors include geographers (Brenda S. A. Yeoh, Weiqiang Lin), sociologists (Yen Le Espiritu, Hung Cam Thai), literary critics (John Carlos Rowe, J. Francisco Benitez, Yunte Huang, Viet Thanh Nguyen), and anthropologists (Xiang Biao, Heonik Kwon, Nancy Lutkehaus, Janet Hoskins), as well as a historian (Laurie J. Sears), and a film scholar (Akira Lippit). Together these contributors demonstrate how a transpacific model can be deployed across multiple disciplines and from varied locations, with scholars working from the United States, Singapore, Japan and England. Topics include the Cold War, the Chinese state, U.S. imperialism, diasporic and refugee cultures and economies, national cinemas, transpacific art, and the view of the transpacific from Asia. These varied topics are a result of the anthology's purpose in bringing scholars into conversation and illuminating how location influences the perception of the transpacific. But regardless of the individual view, what the essays gathered here collectively demonstrate is the energy, excitement, and insight that can be generated from within a transpacific framework.

The evolution of China's market economy is one of the most important developments in the world economy in the twenty-first century. The diverse contributors to this book provide a unique set of essays that evaluate legal, regulatory, and economic aspects of China's transition from planned to market economy. While market-oriented policy reform in China has led to substantial growth and progress since the onset of the reform period in 1979, many challenges remain. This study begins with a general survey of China's transition to a market economy and is followed by more elaborate analyses of specific sectors. The authors consider China's changing regulatory structure and the relationships of this structure to Chinese markets, developments in markets for goods, services, and production factors, changing trade patterns, and the determinants of foreign direct investment and its role in overall capital formation. They provide a comprehensive assessment of market reforms in China. In-depth yet accessible, the book will be of great value to policy makers, business planners, students and researchers concerned with China, as well as those interested in the world economy at large.

This book sheds new light on the potential application of EU law to situations arising outside EU territory, and its consequences. In today's globalized world, EU law and the ECJ's decisions have been calling for exceptions and defining new connecting elements that make the traditional approach of EU law, based on the territoriality principle, less straightforward. This is the case with e.g. the effects doctrine in the context of EU competition law, as was fully recognized after the ECJ's Intel case. Moreover, recently approved rules concerning the EU's internal market, EU environmental law and EU data protection law have made it more difficult to define the application of EU law in terms of a pure link to the territoriality principle. The book examines these and other problems from the perspectives of various branches of EU economic law. With regard to EU competition law it presents, among others, studies on the evolution of the effects doctrine in the US and the EU; extraterritoriality of competition law; global cartels; merger control; state aid and cooperation between NCAs. Furthermore, it includes several studies concerning extraterritorial issues in trade relations between the EU and China; EU screening regulation of foreign direct investments; EU trade agreements; EU investment law and EU financial services. The twenty-one contributing authors are internationally respected experts on EU law.

This volume analyzes international agreements from a political economy perspective. In four essays, it raises the question of whether domestic institutions help explain if countries join international agreements, and in case they do, what type of international organization they join. The book examines how specific democratic design elements channel and mediate domestic demands directed at politicians, and how under certain circumstances entering international agreements helps politicians navigate these demands to their benefit. The volume also distinguishes between different types of international instruments with a varying expected constraining effect upon member states, and empirically tests if this matters for incentives to join. The volume addresses scholars, students, and practitioners interested in a better understanding of how the shape of domestic institutions affects politicians' incentives to enter into binding international agreements.

This book covers several areas of economic theory and political philosophy from the perspective of Austrian Economics and libertarianism. As such, it deals with Epistemology and Methodology, Microeconomics, Macroeconomics, Labor Economics, International Economics, Political Philosophy, Law and Public Policy, all from the Austro-libertarian perspective. Hence, this book offers an integrated view of libertarianism and Austrian economics in the light of recent debates in the areas of economic science and political philosophy. Moreover, it builds from the foundations of the Austrian approach (epistemology and methodology), while the latter material deals with its application to the individual from the microeconomic perspective, which in turn allows an exploration of subjects in macroeconomics. Additionally, this work applies Austro-libertarianism to law, politics, and public policy. Thus, it offers a unified view of the entire approach, in a logical progression, allowing the readers to judge this perspective in full. Futerman and Block say that their book is not a manual, which I suppose it is not. But it is a collection of highly pertinent essays, from which you can understand what is mistaken in the orthodoxy of economics, law, and politics. The central term of art in Austrian economics is that phrase "human action." It is the exercise of human will, not the blind bumping of one molecule against another or one organism against another, as in the physical sciences... Futerman and Block distinguish Austrian economics as a scientific enterprise based on liberty of the will from "libertarianism" as an advocacy based on policies implied by such liberty. "Although Austrian economics is positive and libertarianism is normative," they write, "this book shows how both are related; how each can support the other." Indeed they do. Deirdre N. McCloskey, PhD UIC Distinguished Professor of Economics and of History Emerita, Professor of English Emerita, Professor of Communication Emerita, University of Illinois at Chicago

Although the concept of international public goods has been established, new international public needs arise by the day. For example, while there are many taxation problems and debates that have not yet been resolved internationally, many new tax-related problems like international transfer pricing, taxation of virtual profits, and taxation of electronic commerce are being added. These issues require studies that will discuss a new agenda and propose solutions for these dilemmas and problems. Global Challenges in Public Finance and International Relations provides an innovative and systematic examination of the present international financial events and institutions, international financial relations, and fiscal difficulties and dilemmas in order to discuss solutions for potential problems in the postmodern world. Highlighting topics such as international aid, public debt, and corporate governance, this publication is designed for executives, academicians, researchers, and students of public finance.

Although the globalization of markets and the rapid growth in worldwide information technologies supports harmonization and integration between countries, substantial differences still exist throughout the world. Global Divergence in Trade, Money and Policy explores the disparities between a range of countries, arguing that their differences are a major factor in international tensions, and will remain a substantial problem for many decades to come. The book analyses the implications of disparities in the areas of economic power, institutional structures, per capita income, international trade, exchange rate systems, financial markets, monetary policy issues, the development of monetary unions and welfare. Case studies encompassing Asia, India, Greece, Mexico, the US and EU accession countries illustrate how differently the globalization process is regarded and valued by countries depending on their own particular circumstances. Exploring the role of different countries in the processes of globalization and shedding light on the issues surrounding economic divergences, this book will strongly appeal to economists with a special interest in globalization, development and international trade.

The book reviews globalisation by identifying causes behind the discontent it has produced in recent years. It variously engages in economics, political economy, development and policy discourses to study experiences of countries and institutions in managing and adjusting to globalisation. Extending the analysis to latest global developments, including the remarkable advance of technology and digitalisation, and political and economic upheavals caused by COVID19, the book collects varied academic perspectives and reflects on the present as well as future. Comprising chapters written by distinguished academics and policy experts, the book is a rare collection of cross-disciplinary objective evaluations of globalisation.

This book fills a gap in the literature on economic liberalism in France as it strives to resolve a paradox. How do we reconcile the fact that while France has been among the most fertile of soils for the liberal intellectual tradition, the theoretical ideas it has produced has little impact on its own public debate and public policies? Using a wide range of data on public policies, it demonstrates that neo-liberal thought has had far less influence in France than in other European nations during the period from 1974 to 2012. The failure of neo-liberalism to propagate in public policies France is shown to be mainly due to the strong resistance of public opinion towards it. In addition, the structure of French institutions has reinforced the effect of "path dependence" in the making of public policy by valuing state expertise above that of actors likely to question the post-war consensus, such as academics and think tanks. Finally, the book identifies other more incidental factors which contributed to neo-liberalism marginality: the fragmentation and radicalism of neo-liberal advocates, as well as the absence of charismatic political actors to effectively embody these ideas. This book is a useful educational tool for students of economics, sociology, political science, and of French political history. This book is also of interest for journalists, think tank researchers and professionals of politics and administration.

The past decade has witnessed a proliferation of regulatory agencies at both the national and the EU level. This coherent and clearly structured book is the first of its kind to analyse in equal measure, and interdependently, both national regulatory authorities and European agencies. It brings together a select group of highly esteemed contributors - authorities in their fields - to provide a systematic and over-arching view of regulation in the EU. Unlike many of the previous attempts to shed light on this increasingly opaque and complex co-existence of regulatory systems, this book takes a genuinely multi-disciplinary approach with integrated perspectives from law, politics and economics. Exploring firstly the rationales for the existence of agencies, the book then goes on to examine how agencies are designed in the EU before considering the legal and political challenges they raise, and finally comparing them with international agencies and agencies in an enlarged Europe and the wider world. Academic researchers in the fields of law, economics and politics will find Regulation through Agencies in the EU of great interest as will EU law practitioners, policymakers and regulators in Europe.

The international business literature often struggles to depict a universal experience of internationalisation from the perspective of large countries. This book seeks to enrich the literature by providing a nuanced overview of the little-known Australian experience, being an atypical case of a small- to medium-sized economy which liberalised rapidly from the 1980s outside any trading bloc. Six data-rich survey chapters explore Australia's mixed success in founding its own multinationals. The experience of Australian firms is set in historical and comparative perspective, including interactions with inward and specifically American FDI. Five industry studies next consider why firms in retail, wine and professional services were more successful than in financial services and shipping. Nine detailed case studies of firms then identify the elements of administrative heritage, strategy and learning that have been the key to success or failure. The book concludes by outlining what can be learned from Australia's example and presenting implications for future research. The Internationalisation Strategies of Small-Country Firms will appeal to scholars, researchers and postgraduate students in international business and international economics.

The second volume of the Balkan Yearbook of European and International Law (BYEIL) focuses on the United Nations Convention on Contracts for the International Sale of Goods (CISG), which was signed 40 years ago. The contributions analyse a broad range of aspects and reflect the latest developments; those in the permanent sections on European Law and International Law explore contemporary challenges in public and private law disciplines, offering fresh new perspectives on established concepts.

In the past, practical applications motivated the development of mathematical theories, which then became the subject of study in pure mathematics where abstract concepts are studied for their own sake. The activity of applied mathematics is thus intimately connected with research in pure mathematics, which is also referred to as theoretical mathematics. Theoretical and Applied Mathematics in International Business is an essential research publication that explores the importance and implications of applied and theoretical mathematics within international business, including areas such as finance, general management, sales and marketing, and supply chain management. Highlighting topics such as data mining, global economics, and general management, this publication is ideal for scholars, specialists, managers, corporate professionals, researchers, and academicians.

In this, his final book, Gavin Boyd has brought together a distinguished group of experts on the nature and extent of transatlantic policy coordination and its implication for corporate strategy. This remarkably relevant set of papers offers a discussion on the economic and financial linkage between Europe and North America, as well as the trade and investment rules governing this interaction.The complexities of the transatlantic relationship are analyzed in chapters dealing with: financial integration, transfer of knowledge and technology, transatlantic trade and corporate partnership, transatlantic trade and investment links, simultaneous intra-regional as well as transatlantic trade and the implications for antitrust policy of the activities of multinational enterprises, structural positioning and macroeconomic policy coordination, international interdependence and the role of entrepreneurship, and the reform of international financial markets. Exploring growing transatlantic trade and investment linkages within their institutional contexts, this timely book will be invaluable to academics and researchers with an interest in international business and international economics. Practicing trade lawyers and policymakers will also find the book to be a fascinating read.

This book develops new balance of payments statistics for the United States from 1790 to 1919, before official statistics were kept. Part I of this book justifies construction of a new balance of payments table, and Chapter 1 surveys existing tables from that standpoint. Chapter 2 shows how this book overcomes the limitations of Office of Business Economics and its North-Simon-Goldsmith foundation. Specific features are highlighted, including measurement decisions, improvement of OBE series, development of new series, and derived implications for the structure of the US economy and for the importance of individual sectors that loom large at various times: slave trade, shipping, manufacturing, and travel. The book then generates new time series of the movement of people, the movement of goods, the movement of funds, and the provision of services. Part VI puts the new balance of payments table to use in several ways: aggregates and balances within the table, structure of the US economy, and specific sectors of the economy (slave trade, shipping, manufacturing, travel). Finally, Part VII provides concluding comments.

Europe's achievements in economic integration have attracted worldwide interest and are seen as an example for other regions to follow. Ten years after the completion of the Single Market Programme, this book is able to utilise empirical data not available to previous studies, also building on research by reputed academic experts and staff at the European Commission. The book reveals that European product market integration has a significant impact on the conditions of competition, the strategies of companies and the structure of industry. It adds a quarter of a percentage to annual GDP growth rates and has not led to an increased exposure of the EU to asymmetric shocks. However, the book argues that further improvements in the functioning of European product markets are needed in order to improve the EU's growth performance over the next decade. Invaluably, the book provides not only current information about Europe's achievements in economic integration but also methodology to assess the outcome of economic integration in other regions of the World, such as NAFTA, MERCOSUR and ASEAN. Offering a uniquely up-to-date and comprehensive empirical analysis and assessment of the European integration process, this book will be of great use and interest to international institutions and NGOs as well as researchers and scholars of European studies and economics.

This authoritative edited volume offers, for the first time, a selection of critical perspectives on globalization. These critiques incorporate work from radical and feminist scholars opposing the new liberal ideology underlying globalization. It also sheds new light on the different types of costs and risks of globalization in terms of environment, health hazards, international terrorism and cultural homogenization.The book is intended for a wide audience and will be of interest to students and researchers in economics, politics, international relations, geography and development studies, as well as policy makers and activists in governmental and non-governmental organizations.