In this enlightening book, John Berdell addresses the widely-held belief that classical economics distanced itself from policy issues and public debates regarding the effects of international trade on economic growth in advanced economies. He argues, through a detailed consideration of the evolution and structure of Hume's, Smith's, Ricardo's and Malthus' analyses, that it is not only contemporary international economic theory which takes account of these issues.Berdell uses a series of non-linear dynamic models to illustrate and analyse important aspects of each author's discussion of the interactions between trade and growth. The findings are then extended to create a comparison of the classical models with recent empirical research in this area. Berdell suggests that John Stuart Mill's plan to synthesise and extend Hume's, Smith's and Ricardo's analysis of commercial society was rendered intractable by the limitations of Hume's associationalist psychology. This work will be of great interest to both historians of economic ideas and economists concerned with modelling the interactions between growth and international trade.

Global interest in the exploration of the Arctic has been growing rapidly. As the Arctic becomes a global resource base and trade corridor between the continents, it is crucial to identify the dangers that such a boom of extractive industries and transport routes may bring on the people and the environment. International Collaboration, Economic Development, and Sustainability in the Arctic discusses the perspectives and major challenges of the investment collaboration and development and commercial use of trade routes in the Arctic. Featuring research on topics such as agricultural production, environmental resources, and investment collaboration, this book is ideally designed for policymakers, business leaders, and environmental researchers seeking coverage on new practices and solutions in the sphere of achieving sustainability in economic exploration of the Artic region.

How impactful has the Eurasian Economic Union (EAEU) been since it was signed in 2015? This book provides a thorough and critical analysis of economic integration in the EAEU from the perspective of international economic relations. It focuses on trade, FDI, manufacturing, energy, transport and logistics, science and education, digital economy, labour and ecology. The book also addresses the global positioning of the EAEU by evaluating its existing and potential trade agreements both with third countries and regional blocks. Although the EAEU is an established regional entity that has achieved a number of quantitative and qualitative economic results, there needs to be inclusive dialogue at the intra-regional (within the EAEU) and interregional (for instance, BRICS+) levels to further deepen the economic integration in the EAEU. This book will be of interest to academics and policymakers working in Eurasian economic integration, international economic relations and regional studies.

Globalizing Europe examines the involvement of the European Union in the deepening integration that results as trade and transnational production link markets and economic systems across the world. This process is posing a unique challenge to European decision-makers to implement measures that will maximize the benefits and reduce the costs of globalization. As Europe expands and becomes more integrated it is being obliged to assume greater control over the development of its external economic relations. To effect this, the authors propose that member states play a more active and constructive role in the global political economy. They advocate the planning and implementation of major initiatives that could ensure greater stability in the world economy. Because of the magnitude of the economic bonds developing between the EU and the USA, special attention is paid to the trends and issues associated with the evolution of Atlantic relations. One of the greatest challenges the authors highlight, and a theme implicit throughout the book, is that the EU's external problems may receive inadequate attention due to the complexities of its decision processes. EU-level decision-making may become more introspective, rather than global, in outlook. Combining firm, industry, regional and country levels of analysis with the diverse and provocative views of the authors, this book will be essential reading for scholars of international economics, international political economy, and international business and finance.

This volume brings together two comprehensive survey studies of the literature on the microeconometrics of international trade. The chapters apply new empirical methods to the analysis of the links between international trade and various dimensions of firm performance such as productivity, profitability, wages, and survival. The studies also include report results for Germany, one of the leading actors on the world markets for goods and services.

The agricultural and food sectors have developed into a prominent industry, impacting economic markets on an international scale. In certain regions, there is a significant potential for creating increased competitive advantage in these business areas. Exploring the Global Competitiveness of Agri-Food Sectors and Serbia's Dominant Presence: Emerging Research and Opportunities includes academic coverage and perspectives on enhancing the competitiveness of the Serbian food industry in the global marketplace. Highlighting pertinent topics such as exports, international trade, and manufacturing considerations, this book is an ideal resource for academics, researchers, graduate students, and professionals actively involved in the agri-food industry.

This expanded and enlarged third edition of Theodore Pelagidis and Michael Mitsopoulos' popular Who's to Blame for Greece? covers almost a decade of Greece's economic crisis from 2009 to 2019, as well as recent developments in the first months of 2020. It provides an overview of recent developments in the Greek economy and outlines the most important obstacles to a return to robust and sustainable growth rates. It considers the new optimism being developed in Greece after the crisis, but also the policy challenges facing Greece emanating from a deeply hurt economy in the aftermath of the crisis and the structural problems that persist. The book covers the most recent issues that affect the Greek economy including, the migration crisis at the borders with Turkey as well as a faltering global economy hit by the Covid-19 pandemic. This book will appeal to researchers, practitioners and policy makers interested in the EU and the political economy of Greece and offers valuable updates on the second edition.

The book analyses the evolution of research and innovation policies in the world's leading countries. The last decade has witnessed a radical transformation of the landscape shaped after World War II, as described in the seminal collection edited by Richard Nelson in the early 1990s. Even though national systems have inherited different institutional arrangements and trajectories, analyses show three major converging trends in their public policies. There has been a retraction from support to large firms and programmes and a shift toward small to medium enterprises and the innovation infrastructure; the focus on public research and training capabilities is growing; and there has been a redesign of public intervention with the growing role of regions and states on one hand and multinational authorities on the other, particularly in the European Union. The authors, all leading scholars in innovation research, provide thorough analytical descriptions of the national innovation system in their country and set that system in historical perspective. Each chapter is written so the reader can easily make comparisons between countries and regions. Six major issues are identified and addressed in each chapter: * the dynamics of universities and their relations with the economy * the evolving role of defence R&D and other large public programmes * the growth of technology policies and the innovative capabilities of SMEs * the changing rationale for government laboratories * the growing role of regions in fostering innovation * the capability of government to adapt to rapid changes in innovation systems. This essential book will be of interest to scholars and students of science, technology and innovation policy, management, institutional economics and managers of research and innovation policies at a national and local level.

This edited volume analyses how EU membership influenced the convergence process of member countries in the Baltics, Central-Eastern and South-Eastern Europe. It also explores countries that are candidates for future EU membership. The speed of convergence of significant groups of low- and medium-income countries has never been as fast globally as it is today. Contributions by lead researchers of the area explore whether these countries are converging faster than their fundamentals and global trends would suggest because of EU membership, with its much tighter institutional and political anchorage

The impact of globalisation on social development is a critical issue for both developed and developing countries. In Globalisation and Social Development, leading experts investigate this from the perspective of European, and more specifically, Southeast Asian economies including Thailand, the Philippines and Vietnam. The contributors provide a well documented, multi-disciplinary analysis of the relationship between globalisation and social development in regions which, in the last two decades, have relied heavily on an outward looking development strategy and on attracting FDI, and which have been severely hit by the Asian crisis. In order to substantiate their analysis, the contributors include case studies of company relocation to Southeast Asia. The effects of globalisation on compliance with core labour standards in the Asia Pacific are also explored. Examining the complex link between globalisation and social development in Europe and Southeast Asia, Globalisation and Social Development will be welcomed by economists and social researchers with a specific interest in globalisation and Southeast Asian economies. Lecturers and scholars of international economics, international business and Asian business will also find the book to be of great interest.

This book studies the Chinese "Belt and Road Initiative" (BRI), also called "New Silk Road", and focuses on its regional and local effects. Written by experts from various fields, it presents a range of case studies on the geopolitical, socio-economic, ecological and cultural implications of the BRI for European regions and their stakeholders. The book is divided into four parts, the first of which discusses the history of and China's motivations for the BRI. The second part explores the global phenomenon from a number of regional standpoints. In turn, the third part presents studies on the political, socio-economic, cultural and ecological implications of the New Silk Road project. The final part highlights the tourism prospects in connection with the Silk Road project, as tourism has established itself as an important economic sector in many regions along the historic Silk Road. This book will appeal to scholars of economics, international relations and tourism, decision-makers, managers, chambers of commerce and entrepreneurs with special interests in establishing collaboration with the Chinese market.

This volume offers fresh insights into economic development and growth in emerging economies. It includes contributions covering topics such as natural disasters and income inequalities, the environmental impact of economic growth, social preferences, information and market disorder under democracy, inflation targeting and its covariates, economic empowerment. This book is intended for scholars in the field of economics, and those interested in furthering economic development.

In the post-industrial network economy, international gateway regions are becoming increasingly important. These gateway regions are the nodes (defined as a city or a city region) that act as saddle points between a region and the global economy. While gateway regions have existed ever since inter-regional trade was first practised, new non-trade networks, and the wider global economy, have made these regions more complex. The book includes discussions of infrastructure networks such as the internet and air transport, as well as networking activities such as long-distance scientific cooperation, financial networks and direct investments. The contributors have expertise in fields such as regional economics, economic geography, institutional economics and business administration. The book offers in-depth analysis of both existing and developing gateway regions in three sections: * North America * Asia-Pacific * Europe Economists and researchers with an interest in regions, the knowledge economy and institutions will find this book of great value. It will also be of interest to economic geographers, regional planners and development agencies.

Intangible assets are of growing importance to corporate competitiveness and economic performance. They include R&D, human capital, innovation in products and in organisation, trademarks and patents, networking and software. This path-breaking book provides a theoretical and empirical analysis of intangible investment and its effect on public policy in Europe. The authors find that the growing importance of intangibles is transforming the direction of public policies in Europe, particularly industrial, R&D, competition and trade policies. They conclude that government policies must recognise the fact that intangible investment is becoming the key element in bringing about durable growth and accord at least the same priority to intangible factors as to physical investment. This work should be essential reading for students interested in this new field of economic analysis, national and international policymakers, and industrialists involved in the non-physical economy.

In Brazil, the confluence of strong global demand for the country's major products, global successes for its major corporations, and steady results from its economic policies is building confidence and even reviving dreams of grandeza --the greatness that has proven elusive in the past. Even as the current economic crisis tempers expectations of the future, the trends identified in this book suggest that Brazil will continue its path toward becoming a leading economic power in the future.

Once seen as an economic backwater, Brazil now occupies key niches in energy, agriculture, service industries, and even high technology. Yet Latin America's largest nation still struggles with endemic inequality issues and deep-seated ambivalence toward global economic integration.

Scholars and policy practitioners from Brazil, the United States, and Europe recently gathered to investigate the present state and likely future of the Brazilian economy. This important volume is the timely result. In "Brazil as an Economic Superpower?" international authorities focus on five key topics: agribusiness, energy, trade, social investment, and multinational corporations. Their analyses and expertise provide not only a unique and authoritative picture of the Brazilian economy but also a useful lens through which to view the changing global economy as a whole.

This book analyses and quantifies the environmental impact of two closely related phenomena: economic growth and trade liberalisation. Previous work in this area tends to address only the impact of trade or economic growth on the environment, yet, as Matthew Cole shows, the two are inextricably linked. A theoretical and historical background to the relationship between economic growth and the environment, coupled with the environmental impact of international trade, particularly as it has been applied through the GATT/WTO, provides the contextual framework for a detailed empirical analysis. In examining the environmental effects of economic growth and international trade, use is made of Environmental Kuznets Curves (EKCs) and improvements to traditional EKC methodology are suggested. Global policy implications are discussed and conclusions drawn. An essential supplementary text for any undergraduate or postgraduate studying environmental economics, this book should appeal to researchers and policymakers in the field of international economic development as well as anyone with an interest in the global environment.

Concerns about European prospects for competitiveness, jobs and growth are high on the European Union agenda and regulatory reform, both at national and EU levels, is widely recognised as a crucial tool for improving the performance of European companies. Despite the single market, selective sectoral regulatory reform and certain reforms at the national level, regulation in Europe still tends to discourage new entrants, impede new production methods and inhibit the exit of existing competitors. It often increases costs without providing compensatory benefits, reduces operational flexibility and distorts capital expenditure, creating obstacles to innovation. The authors in this book argue that regulatory reform can, more often than not, help improve the competitiveness of companies while generating net growth effects for the European Union as a whole.In this book, the authors discuss the horizontal issues involved in regulatory reform. Following an extended introduction by the editors, two general chapters address regulation and growth, and the regulatory burdens and failures in Europe. Other chapters deal with national competition policy, state aid, EU environmental policy, reforms in product markets, labour market reforms, the regulatory environment of small and new firms, and the current, insufficient EU reforms to improve regulatory quality. Throughout the book the authors aim to demonstrate how the market can function more efficiently and offer policy recommendations to show how regulatory reform can improve competitiveness at the firm level as well as performance at the industry, national and EU levels.

This book explores whether foreign direct investment (FDI) can contribute to the competitiveness of industries in Central Europe and to narrowing the gap between these transition economies and countries within the European Union. The Czech Republic, Hungary, Slovakia and Slovenia have attracted substantial FDI since the beginning of their transition to a market economy. Using exhaustive empirical data, the authors demonstrate that foreign investment enterprises in Central Europe have higher allocative efficiency, promote macro- and microeconomic restructuring and foster the restructuring of the manufacturing sector in accordance with the host countries' comparative advantages. The case of Austria is used to demonstrate the possible benefits of FDI. On the other hand, high foreign penetration leads to the concentration of production and exports and makes the economy more vulnerable to external shocks. In addition, there may be unwelcome pressures on economic policy in order to maintain the country's position as a frequented investment target. However, the analysis in this book suggests that, on the whole, economies in transition can become more competitive more rapidly and more profoundly with the help of foreign direct investment. This book will be of interest to students and scholars of international economics, European studies, economies of transition and international business.

Many companies today are unable to respond fast enough to market shifts because they have concentrated too much on making technology more specialized to their own needs, hoping that this will preserve their competitive edge. Unfortunately, this has actually left many R&D staff short of the cross-functional skills they need to enable large projects to work. This innovative and original book, written by a leading management consultant, addresses these concerns and provides new insights into the theories and practices of innovation management. Ultimately, this book argues, the innovation process is no longer limited to 'know-how' but depends instead on 'know-who'. For companies to remain competitive and respond to market shifts, they must change their focus from internal specialization to learning through relationships. Three in-depth case studies from Canon, Sony and Toyota demonstrate the intracorporate benefits of external collaboration. This book provides concrete examples on how these companies use the principles of open sharing ideas, technologies and human resources; and performance measurement systems that reward cooperation and collective achievements. More importantly, it links the Japanese 'learning through know-who principle' with these practices in order to explain the high R&D performance, reduced development lead-times and improved overall competitiveness of these three firms. This book will be of great interest to business managers, international scholars of R&D and innovation and postgraduate students taking courses in technology and innovation.

The globalisation of the world economy is one of the major concepts of our time and is likely to influence thinking and policy making well into the 21st century. Although officially welcomed as a major contribution to world welfare it is held by many to be responsible for low wages and mass unemployment. This book questions the seemingly inevitable progress of globalisation and the role of the state as a powerless institution in a globalised economy. Issues discussed include: * trade liberalisation and the role of the World Trade Organisation in providing global responses to global issues * the globalisation of finance; in particular the integration of capital markets * the role of EMU in limiting the social protection level in member states * the effect of globalisation on the structure of the modern nation-state * a challenge to the conventional image of globalisation, which is viewed as being far less widespread than we are led to believe This book will be of interest to scholars of the international economics, international political economy and international finance.

This important and timely book examines the impact of different financial systems on investment. It considers the increasing effects of globalization on the relationship between national financial systems and investment, which is especially relevant in light of the recent Asian crisis. Marc Schaberg explores the way in which countries finance investment and the institutional arrangements which are in place for channelling finance to investment projects. He specifically examines the patterns of sources and uses of funds in non-financial enterprise sectors in the US, UK, France, Japan and Germany. Using time series data and econometric tests, he measures and categorises the financial systems of these countries. He also assesses the empirical evidence to question the commonly held assumption that financial systems are converging. Globalization and the Erosion of National Financial Systems will be welcomed by students and scholars working in the areas of money and banking as well as by financial economists.

Although customary international law has long been an important source of rights and obligations in international relations, there has been extensive debate in recent years about whether this body of law is equipped to address complex modern problems such as climate change, international terrorism, and global financial instability. In addition, there is growing uncertainty about how, precisely, international and domestic courts should identify rules of customary international law. Custom's Future seeks to address this uncertainty by providing a better understanding of how customary international law has developed over time, the way in which it is applied in practice, and the challenges that it faces going forward. Reflecting an interdisciplinary mix of historical, empirical, economic, philosophical, and doctrinal analysis, and containing chapters by leading international law experts, it will be of use to lawyers, judges, and researchers alike.

Globalization is a complex phenomenon involving the mobility of goods, capital, labour and ideas across country borders. From an economic point of view, two waves of globalization have been identified by scholars so far. The first wave materialized between the second half of the Nineteenth century and WWI; the second wave rose after WWII and gained momentum at the end of the Twentieth century before slowing down in the aftermath of the global financial crisis due to renewed protectionist pressures. This collection of essays studies the implications of this second wave of globalization for national economic performance. In doing so, it takes a bottom-up approach, building up the macroeconomic trajectories from the microeconomic effects of globalization on firms and workers. The collected essays highlight the asymmetry of responses across firms and workers between and within industries as well as territories, thus explaining the forces behind the emergence of 'winners' and 'losers' from globalization. The collection shows how state-of-the-art models of international economics and economic geography can be brought to life by addressing several topical issues in the public debate, ranging from regional growth and regional decline to international competition and creative destruction, from innovation patterns to cultural diversity and from immigration to offshoring.