Eleonora Poli analyses how ideas and material interests have come to determine the evolution of antitrust policies in the USA, EU, Japan and BRICS. She argues that three major economic crises together with market globalisation have changed governments' perceptions of market competition, giving rise to a neo-liberal global phase.

This Handbook adopts a traditional definition of the subject, and focuses primarily on the explanation of international transactions in goods, services, and assets, and on the main domestic effects of those transactions. The first volume deals with the "real side" of international economics. It is concerned with the explanation of trade and factor flows, with their main effects on goods and factor prices, on the allocation of resources and income distribution and on economic welfare, and also with the effects on national policies designed explicitly to influence trade and factor flows. In other words, it deals chiefly with microeconomic issues and methods. The second volume deals with the "monetary side" of the subject. It is concerned with the balance of payments adjustment process under fixed exchange rates, with exchange rate determination under flexible exchange rates, and with the domestic ramifications of these phenomena. Accordingly, it deals mainly with macroeconomic issues, although microeconomic methods are frequently utilized, especially in work on expectations, asset markets, and exchange rate behavior. For more information on the Handbooks in Economics series, please see our home page on http: //www.elsevier.nl/locate/hes

This encompassing study traces the issues of international cartels from the early days of World War II through the occupation of Germany and Japan. It focuses attention on the Justice Department's Economic Warfare Section as it utilized its resources in uncovering economic and strategic information that could be used in the war effort, such as the selection of economic bottlenecks for bombing. Maddox examines how cartels such as I. G. Farben, Carl Zeiss, the Steel Cartel and others worked to harm U.S. strategic interests, and he details how cartel agreements allowed the Japanese to acquire critical technologies and strategic materials. Using newly released Justice Department records, this thorough investigation of decartelization captures the debate over implementation of the policy issues.

These exposures by both the Justice Department and the Kilgore Committee ultimately helped stimulate debate over the economic treatment of enemy nations in the postwar period. Despite an Allied decision in Potsdam to apply decartelization and deconcentration policies to Germany and Japan, the decartelization policy ran into difficulty in Germany with blatant attempts by the American Military Government to subvert it. Events in Japan followed a similar path. After first taking on the zaibatsu and other cartel-like business practices, policy would be reversed.

Economics, Dominique reminds us, is a social science, with prescriptions that are statistical in character but inherently polemical. In contrast to the laws of the natural sciences, economic statements, meaningful as well as meaningless, can be transformed into a vehicle for the promotion of false consciousness, as when the polemical prescriptions of social sciences are used to promote unavowed interests. The axiomatization of economics in the early 1950s, though well-intended, has produced two negative consequences: the equation of science and mathematical formalism by some, and a total lack of concern for experimentation on the part of others. These translate into excessive abstraction, empirical irrelevance, and a total lack of social purpose.

Dominique argues that excessive abstraction is causing economics to gradually lose its social usefulness. This state of affairs has, in turn, led the general public to accept at face value the prescriptions of an untested orthodoxy, such as unfettered globalization, as genuinely scientific. In the era of unfettered globalization, the top 20 percent of the world's income earners have become richer while the bottom 80 percent have become impoverished and environmental degradation has gone unabated. Dominique argues that, according to the scientific theory of economics, the top quintile must pay the costs and the bottom four quintiles ought not bear alone the brunt of globalization. To reverse this outcome, the bottom 80 percent must become pro-active in economic policy formulation. A challenge to contemporary development and economic policy that will be of interest to economists, public policy makers, the international business community, and social activists.

The author examines the rise of the BRICs and the supposed decline of the United States. Focusing on the boom years from 1992 to 2007, and the crisis years after 2008, he argues that there are limits to the rise of the former and that the extent of US decline has been greatly exaggerated.

Multinationality, or the degree of internationalization, has favorable financial results and implications. Highly valued by the market as a hidden asset, multinationality is related to earnings management, systematic risk, capital structure, and growth opportunities as measured by the investment opportunity set. Riahi-Belkaoui examines the performance results of a multinational strategy and concludes that multinationality can be quantified and does play a significant role in keeping a firm healthy and growing. His book is a far-reaching examination of the data and a persuasive argument for why firms should make multinationality a critical part of their overall business strategy.

Riahi-Belkaoui presents research results supporting multinationality. He confirms that the market reacts more favorably the larger (smaller) cash flows are (accruals), and he shows that the preference of cash flows over accruals will increase under conditions of high multinationality and high reputation. He argues that the level of multinationality affects net income and net worth and thereby, political costs and risk. Analyzing the association between multinationality and systematic risk as measured by the market model beta, he finds that systematic risk is positively related to the level of multinationality after controlling for corporate reputation and other factors. He examines the role of multinationality and profitability as determinants of the investment opportunity set and considers whether a firM's investment opportunity is associated with corporate financing. Finally, he investigates whether disclosure policy, level of economic risk, and the nature of the alignment of financial and tax accounting explain differences in financial analysts' forecast error internationally. The book concludes with a model of the determinants of the investment opportunity set of multinational firms.

This volume deals with the role and impact of technology on the economy and society. The papers on corporate dimensions address the impact of patents, determinants of innovative activities, differential behaviour of multinationals, industrial groups and other firms with regard to innovations and technology. In contrast, the papers on social dimensions chiefly deal with the role of technology in reducing inequality. The majority of the papers employ econometric techniques and other statistical methods, and many are based on primary data. The studies emphasise the importance of innovations (especially patents) and human capital in influencing productivity across Indian states, the significance of patenting in determining the efficiency of firms, the role of business groups in promoting innovations, differences in the technological characteristics of multinational and domestic firms, and how mergers and acquisitions can promote R&D. The papers on social dimensions analyse how innovative activities can shape employment, the impact of technology on poverty, the socioeconomic characteristics of mobile phone ownerships, use of information and communications technologies at educational institutions, and the influence of Synchronous Technologies in reducing access to teaching programmes. The studies show that those Indian states that have invested in human capital and technology experienced higher labour productivity. Further, the studies establish a positive correlation between R&D spending and employment. Lastly, they demonstrate that the adoption of agriculture-related technologies can have a significant impact on rural poverty and consumption expenditures.

A comprehensive survey of the countries and territories of this region, incorporating the latest economic and political developments. General Survey Essays by acknowledged experts in the region cover a variety of topical issues. In addition, appendices discuss the religions of the region and the Russian Baltic territory of Kaliningrad. Country Surveys Individual chapters for each country, containing: - information on physical and social geography - a detailed chronology of political events, both recent and historical - essays on each country's political history and economy - a statistical survey - an extensive directory of contact details for political, state and commercial institutions and organizations in the region (covering national and local government, political organizations, diplomatic representation, the judicial system, religion, the media, finance, telecommunications and broadcasting, major companies, transport, tourism, culture, social welfare, the environment, defence, education and more) - and a select bibliography. Who's Who in Central and South-Eastern Europe Biographical details for more than 200 of the region's leading political figures. Regional Information Contact information and extensive details of the activities of regional and international organizations active in the region; a list of research institutes that focus on the region, together with contact details; and select bibliographies of both books and periodicals.

William G. Martin's Semiperipheral States in the World-Economy diverges sharply from past international labor division interpretations of semiperipheral development. Martin emphasizes the importance of each country's individual conditions. Linking each example, however, is the theory that there is a relatively rare set of conditions that make economic, political, and social advancement of the semiperipheral states successful or even possible. Martin and the contributing writers present the thesis that mobility of semiperipheral states to the core world-economy is a very rare phenomenon. Indeed, they even go so far as to suggest that it is the very set of social and institutional ruptures that were necessary to achieve semiperipheral status which often create the social and political forces that prevent any further advance. Economic pressure from core nations and intense competition within the semiperiphery are cited as being foremost among these factors. Such general topics occupy the first few chapters of the book, while the later chapters examine specific semiperipheral countries in depth. The final interpretation provides a better understanding of this segment of the world-economy and of the transformational possibilities of the capitalist world itself. Students of both world-economy and the social and political conditions of the semiperiphery will find this an invaluable study.

This uniquely interdisciplinary volume analyzes the challenges posed by the heterogeneity of the world where radically different players are crammed into increasingly limited political, commercial, social, and ecological space. The rapid rise of Communist Party-ruled China is posing serious challenges to the postwar politico-economic architecture dominated by the United States. Russia, once expected to become a partner of the liberal Western international order, has started behaving in an increasingly unilateral fashion. The developing world is more characterized by failed governance rather than convergence to liberal democracies as was hoped by many Western authors. Given links provided by low-cost carriers, the Internet, and trade and investment, we simply cannot shield ourselves from influences, whether benign or malign, from neighbors on this planet.The authors, including political scientists, economists, social physicists, and experts on complexity theory and informatics, examine how interactions among actors with different properties can cause problems, and they analyze risks resulting from the interactions. While employing a variety of approaches to address topics such as economic interdependence among democracies and authoritarian states, the development assistance regimes, internal conflicts in developing countries, and cyber security, the whole volume presents a clear overview of challenges and risks the world is facing. This work makes a valuable contribution to students of social sciences as well as to practitioners interested in the emerging global order.

Entrepreneurs, technical experts, professionals, international students, writers, and artists are among the most highly mobile people in the global economy today. These talented elite often originate from developing countries and migrate to industrial economies. Many return home with new ideas, experiences, and capital useful for national development, whilst others remain to produce quality goods and services that are useful everywhere in the global economy.
The economic potential of globalization is ultimately dependent on the international mobility of highly talented individuals that transfer knowledge, new technologies, ideas, business capacities, and other creative capabilities. Developing countries and advanced economies may both gain from this mobility if it is effectively and smartly managed. This volume, with original contributions from outstanding international experts in the subject, provides a novel analysis of the main determinants and development impact of talent mobility in the global economy.

A former Senior Deputy Secretary of Information in Pretoria shows how U.S. economic and trade sanctions against South Africa brought about radical political change there. This insider history describes how commercial, cultural, and diplomatic punitive measures over almost 40 years transformed the social and political system of the nation and brought about the demise of apartheid policies and the elections of 1994. This lively, timely, and thought-providing account, easy-to-read and well-written, will interest students, teachers, and general readers concerned with international affairs, global economic relations, and world history.

As a participant in the events in South Africa, de Villiers uses a wide range of primary and secondary sources and oral testimony in his critical examination of the efforts of various anti-apartheid and prosanctions groups and shows how devastating formal and informal measures can be. He provides a perspective also for understanding the new bilateral relationship between South Africa and the United States today and the effectiveness of sanctions as a foreign policy tool. This lively, timely, and thought-providing account, easy-to-read and well-written, will interest students, teachers, public policymakers, businessmen, and general readers concerned with international affairs, global economic relations, and world history.

As the way work is done changes and as organizations flatten themselves down in response to demands posed by the new global economy, managers on the front lines, where some say the real work is done, need a broader set of skills than ever before. They must learn to see their jobs differently--to become tougher and more durable--but they must also become more flexible in how they interact with the organization itself and its changing work and economic environments. The authors emphasize key tasks that front-line managers must do today, such as strategic planning, budgeting, quality management, and benchmarking, and how they must focus attention on their customers, until now far removed and perhaps out of mind. They must also recognize the need for effective information systems and find ways to align their immediate work units with larger organizational strategies and processes. In short, the authors offer essentially a new paradigm for the way management should now be practiced in a far-ranging book that today's managers will need to keep pace with changes that could threaten their careers, and a book that offers others on the way up a way to start their own careers on the right foot.

Becoming an effective front-line manager starts with understanding the job. The authors begin with a comprehensive look at what it means to be a front-line manager and the special challenges they face. They must become all things to all people, say the authors, and at the same time consider other, perhaps unfamiliar challenges, such as safety and health concerns. Front-line managers today must also learn to grow and adapt to changing work environments. The authors present an extensive view of these new tasks and roles and detail the ways in which front-line managers can address and overcome the obstacles they will find. The book is a readable, thought-provoking study of special interest to teachers of general management courses on the undergraduate and graduate levels.

This book is devoted to the analysis of the three main financial crises that have marked this century: 2001 Argentina's defaulting on its external debt, the American subprime crisis in 2008, and the current European debt crisis in Europe. The book pursues three major objectives: firstly, to accurately portray these three financial crises; secondly, to analyze what went wrong with mainstream economic theory, which was unable to foresee these types of economic turmoil; and thirdly, to review macroeconomic theory, re-evaluating Keynes' original contribution to economic analysis and pointing out the need to rebuild macroeconomics with a view to studying economic illness rather than trying to prove the non-existence of economic problems.

Development Corruption in South Africa examines governance matters with a focus on corruption. This rich empirical body on governance variables and governance performance is a welcome addition to South African government literature.

With real case stories, Wells and Ahmed bring to life both the hopes for and the failures of international guarantees of property rights for investors in the developing world. Their cases focus on infrastructure projects, but the lessons apply equally to many other investments. In the 1990's inexperienced firms from rich countries jumped directly into huge projects in some of the world's least developed countries. Their investments reflected almost unbridled enthusiasm for emerging markets and trust in new international guarantees. Yet within a few years the business pages of the world press were reporting an exploding number of serious disputes between foreign investors and governments. As the expected bonanzas proved elusive and the protections weaker than anticipated, many foreign investors became disenchanted with emerging markets. So bad were the outcomes in some cases that a few notable infrastructure firms came close to bankruptcy; several others hurriedly fled poor countries as projects soured.
In this book, Louis Wells and Rafiq Ahmed show why disputes developed, point out how investments and disputes have changed over time, explore why various firms responded differently to crises, and question the basic wisdom of some of the enthusiasm for privatization. The authors tell how firms, countries, and multilateral development organizations can build a conflict-management system that balances the legitimate economic and social concerns of the host countries and those of investors. Without these changes, multinational corporations will lose profitable opportunities and poor countries will not gain the contributions that foreign investment can make toward alleviating poverty.

The Changing Global Economy and its Impact on International Entrepreneurship addresses different changes and challenges that small and medium sized enterprises (SMEs) face in an economy where they need to compete at home and cannot refrain from participating in international markets. Contributors examine diverse SMEs that have succeeded in the face of adversity. They offer a combination of practical strategies and efficient tactics, grounded in solid theory and research, for firms in different competitive industries. This volume presents a collection of 12 carefully selected chapters that highlight challenging real-world cases to illustrate a variety of difficult problems. Hamid Etemad presents an analytical framework with three levels of analysis - entrepreneurial level, firm level, and institutional level - to document comprehensive, realistic and experientially-based entrepreneurial initiatives, potent firm and public policy strategies and informative and applicable results. The interactive structural design of this book offers progressively higher levels of analysis and incisive lessons, which make it perfect for academics interested in the rich range of theories, methodologies and topics surrounding SMEs' internationalization processes. Its analysis will also inform management and effective policy formulation for entrepreneurs, managers, and policymakers. Contributors: J. Almarri, S. Aureli, L. Battaglia, E. Cedrola, M. Del Baldo, S. Denicolai, N. Dominguez, H. Etemad, B. Hagen, E.J.B. Jorgensen, K. Juusola, D. Kabbara, S. Kock, H. Le Nguyen, J.I.G. Meewella, M. Migliaccio, A.G. Quaranta, E. Rasmussen, F. Rivetti, V. Stanisauskaite, I. Wictor, A. Zucchella

This volume fills an important gap in the existing economic literature. While much has been written about Japan's pre-1990s institutions and economic performance, this text is unique in its forward-looking orientation - trying to understand not only the institutional and structural changes that have already reshaped Japan in the 1990s, but to identify the critical trends and institutional changes that will mould Japan's new economy over the next decade.

Out of the ashes of its defeat in World War II, Japan arose to become the foremost economic power in the East Asia and a major player on the world economic stage. How did it do this? This work provides a concise summary and analysis of Japan's emergence as a global economic power. This guide discusses the growth of Japan as an unconventional global power based on the strength of its economy and the softening of its economy in the 1990s. Six topical essays are supported by a timeline of events in postwar Japan, biographical profiles of key players, the text of important primary documents, a glossary of terms, and an annotated bibliography.

Topical essays cover the reprise of the Rising Sun, Japan as a Cold War client, the evolution of Japan as an economic giant, contending with the Communists, pursuing partners in Asia, and Japan as a reactive global power. Biographical sketches of 15 key Japanese political and business leaders, the text of 15 primary documents, a timeline of events, a glossary of terms, and an annotated bibliography suitable for student research provide valuable reference material. Students will benefit from this cogent and readable examination of one of the key developments in the postwar world.

This book is the first study to examine the issue of the legality of parallel imports of trademarked goods under the most important legal systems on an international level, namely under GATT/WTO law, EU law and the laws of the ten major trading partners of the European Union. Part I consists of a general approach to the phenomenon of parallel importation and of a presentation of the theories that have been suggested to resolve the above-mentioned issue. The rule of exhaustion of rights, of which there are three types (rule of national, regional and international exhaustion of rights), is proposed as the most effective instrument to deal with the issue in question. Part II examines the question of exhaustion of trademark rights in light of the provisions of GATT/WTO Law. Part III analyzes the elements of the EU provisions on exhaustion of trademark rights (Articles 7 of Directive 2008/95/EC and 13 of Regulation (EC) 207/2009) and some specific issues relating to the application of these provisions. Part IV presents the regimes of exhaustion of trademark rights recognized in the European Union's current ten most significant trading partners. The book is the first legal study to welcome, in light of economic analysis, the approach adopted by GATT/WTO law and EU law to the question of the geographical scope of the exhaustion of the trademark rights rule. It includes all the case law developed on an international level on the issue of the legality of parallel imports of trademarked goods and a comprehensive overview of the scientific literature concerning the phenomenon of parallel imports in general and the legality of parallel imports of trademarked goods. All the views expressed in the book are based on the European Court of Justice's most recent case law and that of the courts of the most important trading partners of the European Union.

In the contemporary business world, international is the default setting. Most organizations operate globally on some level which adds value but brings complexity and challenges. This textbook provides an introduction to understanding how businesses create value in global settings. In this updated edition, the authors cover the traditional key themes including multinationals, internationalization and international market entry, as well as contemporary issues. New topics analyzed in this edition include risk, business models and hyperglobalization. With dedicated chapters on the role on non-market actors in international business, the book provides a multi-disciplinary world-view for readers. A comprehensive and engaging text, supplemented by online resources, this book is the ideal accompaniment to international and global business learning.

The three dominant forces shaping societies and economies around the world are globalization, privatization, and liberalization. Because these processes are interrelated, they must be addressed collectively. The contributors to the volume show that globalization, privatization, and liberalization are multidimensional phenomena that impact not only the economic considerations of governments, but also sociocultural and environmental aspects of societies. The three phenomena also affect these units of analysis-- which Rao and his colleagues identify as regional, country, industrial, and organizational. The result is a cogent discussion of these powerful global forces, for the academic community, professionals in economic development, banking, finance, international investment, and global commerce.

After treating the conceptual issues of meaning, definition, and differing interpretations and perspectives, the volume examines the historical experience with regional economic integration. The flow of foreign direct investment--a major consquence of globalization, privatization, and liberalization of economies is considered next. This leads to a study of the challenges created for management at the microlevel in organizations, such as the intensification of competitiveness, and the increased importance of technology and technology management. In their examination of country-specific issues, the contributors show how widely experiences vary with regard to the way in which the three major processes are implemented and how the policies behind them are adopted. Finally, in their discussion of sectoral and industry-specific issues, the contributors note that great variations on how different industrial sectors and industries will approach and recreate themselves under the power of the three great processes.