The Stability and Growth Pact provides for the systematic surveillance of the fiscal policies of 25 EU member states. On this basis, this book provides an overview of themes in current fiscal policy, including the impact of ageing populations on fiscal sustainability, fiscal policy over the cycle, fiscal decentralization and expenditure reforms.

After the Second World War, the economics of the western capitalist countries were based on a production system called fordism, but in the mid 1970s this system began to break down, and it has been in crisis since. But does resolving this crisis imply a complete break with the past, notably with the principles of Taylor and Ford?;Based on an analysis of the transformations currently taking place in several international companies, this book reveals the complexities and subtleties of today's transitions.

International development has complex unintended effects on the realities of equity, rights, governance, and conflict in poor countries. Yet the myriad moral questions and quandaries encountered at every turn by development policymakers and practitioners are seldom thought about or articulated in a rigorous fashion. Instead, development specialists are trained to focus on the technocratic aspects of economic aid delivery and to disregard the moral issues raised by the adverse collateral consequences of aid programs for many people, communities, institutions, and environments in the developing countries. "Reclaiming Value in International Development" is the first book to bridge the divide between ethics and development from the perspective of a seasoned development practitioner who is also a trained ethicist.

Schwenke formally enlarges the concept of development to include its moral dimension, to denote beneficial change that alleviates human misery and environmental degradation in poor countries and reinforces universal ethical norms such as human dignity, essential freedoms, social justice, peace, civic virtue, human flourishing, the common good, gender equality, safety and security, and participation and inclusion. She applies this ethically expanded concept to nine key topics in international development: education, leadership, procurement, food security, conflict, urbanization, gender identity and sexual orientation, deliberative participation, and the measurement of ethical performance. Throughout the book, the author draws on her thirty years of experience as a development practitioner in thirty poor countries around the world to give vivid real-life illustrations of the classic moral dilemmas in development ethics and to show how moral reasoning can clarify and resolve them.

This work is a view of the pressures that Europe faces over the coming decades. It cogently demonstrates how a new world order of market forces is coercing Europe to modernise. Drawing on five years of research, this book shows that for Europe, free markets do not directly equate to greater international competitiveness. Accessible, provocative and stimulating, After Liberalisation provides a radical vision of Europe in the global economy of the twenty first century.

This book shows how the three most important countries in South America have responded to the challenges of globalization since the mid-1960s: the first OPEC price hike, the Third World debt crisis leading to the “lost-decade” for the continent, and, finally, bold but often ill-planned neo-liberal reforms of the 1990s. Latin America will experience another cycle of structural changes in the coming decades, as the reforms of the 1980s and 1990s failed to produce the desired effects of social justice, fair income distribution, sustainable growth, and consolidation of democracy.

The analysis of the transfer paradox has evolved primarily in the context of traditional static models. However, given developments in the policy arena as well in the discipline itself, there is a need for further developments in the theoretical analysis of foreign aid. For example, the impact of aid on saving, investment and growth calls for an intertemporal framework. Development spatial economics calls for introduction of the spatial dimension to the analysis of foreign aid. Similarly, the potential role of aid in conflict resolution, in improving the environment, in public good (infrastructural) provision, in the globalization process, and in the establishment of good governance are some of the issues that also need serious attention.
On the empirical side, the issue of the effectiveness of aid; the determinants of aid; the allocation criteria for aid; the relationship between aid and trade, and aid and poverty remain as important as ever.
This volume contains a comprehensive analysis of foreign aid from both theoretical and empirical perspectives, written by leading researchers in the field.
* Divided into two parts: Theory of Aid and Empirical Studies on Aid
* Examines aid practices in a variety of countries and under a variety of conditions

In this book, Thompson and Hickson strongly challenge the standard interpretation of the basis of growth and viability of dominant wealthy nations. Briefly, efforts of the economically wealthy and the government leaders to increase their wealth and protect it from aggressors, internal and external, are cast in a new evolutionary light. The challenge is to the idea that societies' leading intellectual formulators of political and social policy have been helpful. Their alternative, and persuasive, interpretation is that the rise and survival of wealthier nations has been achieved because of an effective democracy'. The authors explain why an effective democratic state must avoid narrow, short-sighted', rational-appearing concessions to a sequence of aggressors. In short, the Thompson-Hickson interpretation of the rise of wealthy dominant nations does not rely on the advice of superior intellectual advisors, but instead rests on the pragmatic, almost ad hoc, actions of democratic legislators.

Poland is one of Europe's economic out-performers. The country's history and geography encourage it to be in favour of deeper European integration. This book aims to contribute to discussions on the future shape of EMU and the next steps ahead.

This book contains a set of essays by eminent international scholars from Australia, New Zealand, the U.K. and the U.S. It addresses the issues of globalisation and international competitiveness and includes discussions of market power, competition policy and the effects of foreign trade, globalisation and the labour market. The contributors also examine economic integration and regional policy cooperation, trade and communications, economic growth, including export led growth and foreign direct investment in developing countries, and the diffusion of technology.

This work advances geopolitical economy as a new approach to understanding the evolution of the capitalist world order and its 21st century form of multipolarity. Neither can be explained by recently dominant approaches such as U.S. hegemony or globalization: they treat the world economy as a seamless whole in which either no state matters or only one does. Today's BRICs and emerging economies are only the latest instances of state-led or combined development. Such development has a long history of repeatedly challenging the unevenness of capitalism and the international division of labour it created. It is this dialectic of uneven and combined development, not markets or imperialism, which has spread productive capacity around the world. It also ensured that the hegemony of the UK would end and attempts to create that of the US would peter out into multipolarity. Part two of this book paves the way, advancing Geopolitical Economy as a new approach to the study of international relations and international political economy. Following on from the theoretical limitations exposed in Part I, in this volume the analytical limitations are explored.

Internationalization of the economy accelerated at the turn of the century. Growing national, regional, and global environmental problems associated with globalization present new challenges for policy-makers and international cooperation. Crucial problems concern air pollution, environmental problems from trade and transportation, and global warming. This book, based on theoretical and empirical analysis, comes up with new and innovative policy options, including proposals related to the Kyoto protocol.

This study argues that owing to the wide diversity of nations, their often conflicting policies, and insistence on preserving their sovereignty, the processes of worldwide integration are facilitated by tying these countries together in a system of flexible exchange rates externally, while putting in place a rules-oriented monetary regime internally. The examination of the various issues involved in such an arrangement focuses on money and monetary policy drawing on historical, theoretical, philosophical, and empirical results.

<I>Ideology and International Economy</I> is the first major study of the intellectual and institutional forces which combined to undermine the Bretton Woods system of fixed exchange rates. In two decades, Milton Friedman's "case for flexible exchange rates" was transformed from a minority academic viewpoint to the operational framework for the international monetary system. In the process, the International Monetary Fund was defeated, sidelined and in danger of becoming an irrelevant organization.

This completely revised and updated version of John Williamson's successful textbook, The Open Economy, is divided into six parts. It offers a broad perspective and clarity of exposition that made it a very suitable textbook for undergraduate students of international economics.

The Eastern Enlargement of the EU will not be complete until the new member states join the EMU. Economic and political economy arguments point to fast EMU accession of new member states. Failure to do so will create a two speed Europe, a fundamental change in the economic and political architecture of the EU, adding to the strains already evident between core and peripheral countries. Current high level of trade and business cycle integration of new member states with the Eurozone, decreases the probability of asymmetric shocks. Lower transaction costs, elimination of exchange rate risk and the danger of currency crises, further trade and investment creation, lower interest rates and large fiscal gains, should outweigh the loss of the exchange rate as adjustment tool. The Eastern Enlargement of the Eurozone provides comprehensive economic analysis of theoretical, empirical and political issues that will determine whether EMU enlargement is a success, which has implications for all common currency systems.

This book examines whether India is successfully integrating and adapting to the global strategic management system. It offers essential insights into the evolution of export controls for goods, which may have implications for the development of Weapons of Mass Destruction - an aspect that is especially relevant given India's robust biotechnological, chemical and nuclear industrial base. In security studies, the phrase "strategic trade management" is now slowly replacing the phrase "export control". However, for the policymaking community, export control remains popular, at least for the sake of reference. The book also describes the mechanisms India is adopting in this regard. It demonstrates the shift in the Indian approach to strategic trade management, from an outspoken critic to a supporter. Politically, the country was initially skeptical of the idea of export controls because it was a target of such systems. The book also explains the tools, forces and incentives that moved India to adapt its policy on export controls or strategic trade management.

The twentieth anniversary of the fall of the Berlin Wall saw many reflect on the political, economic and social changes of recent years. The legacy of communism and the economic prospects of post-communist countries are rigorously analysed in this stimulating study of the long term consequences of transition.

The first study in English on the subject, this volume explores the challenges facing Switzerland as the European Community (EC) moves toward the 1992 goal of a Europe without economic borders. The primary question addressed by the author is whether or not Switzerland can ultimately avoid becoming a full-fledged member of the EC. Rene Schwok fully explores the alternatives open to Switzerland, including marginalization and a Third Way between membership and marginalization, comparing the benefits and risks presented by each option. He examines the political and economic implications of full membership within the EC and analyzes Community rules and laws that are particularly relevant to Switzerland. Throughout, Schwok is careful to present a multifaceted approach which reflects both the economic and political issues confronted by Switzerland as the country struggles to reach a policy consensus regarding the EC.

Schwok begins by exposing the source of Switzerland's current problem--the acceleration of the community integration process. He then analyzes the EC's attitude toward Switzerland and evaluates the role played by the European Free Trade Association, paying special attention to efforts to establish a European Economic Space. By comparing the situation of Austria--which has exhibited much more interest in becoming a member of the EC--with that of Switzerland, Schwok sheds new light on Switzerland's reluctance to join. In discussing the effects of the European Internal Market on Switzerland, Schwok reveals the risks of marginalization should Switzerland decide not to join. He goes on to examine the Swiss government's proposed third option, analyzing both its prospects for success and its implications for the Swiss population. Finally, Schwok treats the long-term consequences of this option, asking whether it will allow sufficient proximity to the Internal Market to enable Switzerland to avoid membership or, on the contrary, serve only to pave the way for eventual membership in the EC. Students of international relations and European economics will find Schwok's work a well-reasoned and comprehensive study of Switzerland's choices as Europe approaches 1992.

This book analyzes Africa's unprecedented economic growth, the state of its financial sector, and the varied opportunities for Islamic finance investors. It considers the role - potential and realized - of Islamic finance in fostering financial inclusion in areas such as banking, microfinance, capital market development, insurance, and private equity business. The book stresses that investing in Africa through Islamic finance will open new markets, ensure higher profit margins, diversify risk, and create business competition; and that these changes that will provide financial products that can satisfying the desires and beliefs of all consumers and unlock the real potential of the continent's financial system. The book also looks into the rise of international interest in Africa and concludes by scrutinizing the challenges impeding further economic growth, as well as the specific barriers that need to be addressed in order to promote the implementation of Islamic finance. Investors, policymakers, and academics ready to confront these challenges will find much of value in this book.

The world is seeing a shift in economic power from west to east. Japanese FDI differs from the American example, and this will become crucial. This book tracks trends in Japanese FDI to other Asian countries, suggests future policies, analyzes methodological aspects, and provides an overview of Japanese FDI.

Product recalls spanning toys, children's products, food, pet food, and automobiles have increased dramatically in the recent past. Consequently, the safety of imported products has been pushed to the top of the agenda for companies, consumers, and governments. It has often been argued that recalls occur due to differences among national standards, cost pressures and opportunistic behavior by companies. However, analysis of US toy recalls over a 20 year period reveals that the key to decreasing recalls and harm from defective products lies in improving product designs, learning from recalls and swiftly acting on incidents. Together, these point to the inherent dangers in the disaggregation of value chain and the need to effectively manage those dangers.

"Economics, Econometrics and The LINK" is a collection of scholarly contributions by leading scholars from the U.S., Europe, and Asia dealing with issues of economics and econometrics. The book contains a learned and erudite exposition of macroeconomics and macroeconomic modeling including national, sectoral, issues exchange rate, environment, international price competitiveness and international linkages. It presents a comprehensive perspective of econometric modeling - country-specific, sector-specific and issue-specific. The volume is a tribute to the work of Lawrence R. Klein from all his friends who share a common agenda, viz. to relate the study of economics to the studies of mankind.

While major theories of economic regionalism in the existing literature are primarily constructed to explore institutionalized regional integration, European integration in particular, the analytical framework developed in this work explains the unique process and pattern of regional integration in East Asia.

This book investigates Central America's political economy seen through the lens of its powerful business groups. It provides unique insight into their strategies when confronted with a globalized economy, their impact on development of the isthmus, and how they shape the political and economic institutions governing local varieties of capitalism.