Latin America's experience with regional economic integration has been only slightly shorter than that of Europe. In fact, the first attempt at integration started as early as 1960, with the creation of LAFTA - the Latin American Free Trade Area (subsequently replaced by LAIA - the Latin American Integration Association). LAFTA, composed of 11 countries, sought, unsuccessfully, to create a free trade area in 12 years. In 1969, the Andean pact, which sought, also unsuccessfully, to create a sub-regional free trade area, was set up. Recently the Presidents of Argentina, Brazil, Paraguay and Uruguay signed the Treaty of Asuncion aimed at creating a common market as from 1st January, 1995. This common market, MERCOSUR, will be completed by 2006. In comparison with the earlier and unsuccessful attempts at integration, and despite challenges and problems, both internal and external, MERCOSUR is working, and trade between the member States is increasing. Furthermore, as with the case of the European Union (EU), serious attempts (notably between Argentina and Brazil) are being made to co-ordinate economic and monetary policies. The most important evidence of these moves is the introduction of hard currencies, the reduction in the size of the public sector and the privatization of State assets. These are clearly exciting times for Latin American integration. In this book, the first in a new series of books on International Economic Integration, the authors examine the experience of MERCOSUR in the Latin American integration progress. After an analysis of the history of the moves towards integration in South America, the case of each Member State and the Associate Country is examined and perspectives for the future are assessed.

This book represents the revised and enlarged results of a research projeet whieh recieved fmaneial support from the "Wissenschaftsforderung der Sparkassenorganisation e.V." and was originally published in German (Menkhoff 1996). As the issue of monetary poliey instruments for EMU is one whieh is inherently international, the publieation of an English edition is a logieal step. I whish to thank the Deutscher Sparkassenverlag, whieh published the German edition, for eneouraging work on this subsequent projeet. The major innovation in the English edition is the inc1usion of several new seetions, i.e. 3.2.4, 3.3.4, 3.3.5, 3.4.3 and 3.5. These new analyses, together with changing institutional eireumstanees and the addition of new literature have also resulted in a large number of minor ehanges through outthetext. The book is a contribution, from a German perspeetive, to the diseussion about monetary poliey instruments of the future European Central Bank. The main instruments are analyzed from the point of view of effieieney; in addition, the need to harmonize often divergent sets of national poliey instruments means that an emphasis on the additional goal of fair eompeti tion is of partieular relevanee. Last but not least, the explieit linking of EMU to the eoneept of subsidiarity has wide-ranging eonsequenees for monetary poliey instruments."

Sub-Saharan Africa, the poorest and least integrated region of the world, now has 15 stock markets. Adventure Capitalism examines the economic and political forces behind this trend and discusses the potential consequences of financial market integration for developing countries. Using a political economy approach, it finds that financial globalization presents a formidable challenge for African policymakers, but is also an opportunity with a range of benefits.

This book is devoted to analyzing contemporary capitalism both in Japan and in the world economy by using the theoretical framework of the French regulation theory and by revisiting the theory of civil society in postwar Japan. The Japanese theory of civil society proposed unique thinking about "freedom and equality" and "human rights" in the postwar era but could not help to come up with effective concepts for an economic analysis of that capitalism of the period. On the other hand, the regulation theory born in the 1970s is well known by its definition of postwar capitalism as Fordism, based on the elaboration of a new conceptual framework, but it soon proved unable to directly explain Japan's experience by that central concept of Fordism. Inspired by consideration of Japanese civil society and also by the regulationist framework, the author has forged new analytical concepts such as "companyism" to understand Japanese capitalism including the recent "lost decades", and he elaborates more carefully the concepts of "growth regime" and "institutional change" to grasp the dynamics of the world economy including today's neoliberal trend. The original benefits of the book consist in 1) reviving a Japanese theory of civil society in the postwar period, 2) applying the regulation theory to the analysis of contemporary Japan, and 3) offering theoretical reflections on the conception of the world economy. Consequently, the author pays special attention to the relationship between the political and the economic as well as regulationist tools and the theory of civil society's perspective. The principal message of the book is that capitalism or the market economy must be supported by a sound civil society.

The book discusses the nature of Marxist theory of crisis and applies it to the global financial crisis which began in 2007. Is the contemporary crisis simply the usual periodic upturn and downturn or is there something more fundamental? Is there a structural crisis of capitalism, from which there is no immediate solution? Is capitalism managed and does it have a strategy? Is the financial crisis representative of a failure in capitalism itself to subject banks and other financial institutions to the overall economy? The book discusses Marx's view on crises, as well as ideas on money and finance. It considers the different modern Marxist ideas on the causes of crises - falling rate of profit, disproportionality and underconsumption. It goes into detail as to the nature of the present crisis, its course and causes in a spirited and independent manner. Apart from the United States, it considers the situation in the two countries, in which protests erupted: Iran and Greece. They are taken as examples of the effect of the crisis on the country, the society and the economy as well as its politics. This book was originally published as a special issue of Critique.

This volume examines how joint ventures work in practice. Drawing on extensive personal experience and using case study examples where appropriate, the author analyses the various stages, discusses the problems of partner selection, implementation and control and points out the various benefits and pitfalls. He draws out the implications for improving practice and discusses how the experience of joint ventures affects the theory of the multinational enterprise.

In this book leading contributors look at the development of the evolutionary approach to international business, the internationalization of service industries and the implications of the changing face of Europe for international business in the 1990s. Providing an excellent blend of theory, analysis and case-study material, this volume is a vital resource for students of international business and related fields.

The growth and impact of the multinational enterprise (MNE) in the post war period is one of the most important phenomena of our time. This volume, originally published in 1981 provides a comprehensive and detailed review of both the theoretical and policy issues at a time when the subject had reached a watershed, after the controversies of the 1970s. The book provides a balanced discussion of major themes such as the development of modern theories of international production; the impact of the MNE on the nation-state and the structure of the international market; the response of governments and the appropriate framework for policy measures; and the historical context and likely future of the MNE.

The book focuses on the major environmental implications stemming from the growth of the multinational enterprise in a multiple currency world; the international transfer of technology; industrial relations and labour utilization in foreign-owned firms in the UK; multinational companies and trade union interests; foreign direct investment, the balance of payments and trade flows; the multinational enterprise and developing countries; government policy alternatives and the problem of international sharing and a case study of a multinational enterprise in Europe. A survey of the background to the multinational enterprise and concluding summaries ensure that this book is one of the most widely embracing volumes available on the subject.

Aimed at senior undergraduate and post-graduate students following courses in International Business and Industrial Relations this book examines the labour market effects of multinational business. In reflecting the complexity and dynamism of developments in this area, the book makes clear the need to underpin analysis of the labour market effects of multinational business with conceptual understanding of the theory of multinational enterprise.

This book considers the question of the impact of multinationals on Sweden. Based on extensive original research the book examines the benefits and drawbacks of multinationals for Sweden. It relates the Swedish case of multinationals to theories of multinational enterprise and to theories of industrial change. It reviews the extensive debate within Sweden on the question and discusses the policy options available to Sweden. It argues that the mix within a multinational and the spatial distribution (either at home or abroad) of production, research and development, marketing and central functions is important in determining whether a multinational has a beneficial or adverse effect on a country like Sweden. As a small open economy which is considerably affected by movements in international trade Sweden provides the rest of the world with a unique example of the impact of multinational enterprises in terms of both outward and inward foreign direct investment.

Is the transnational coporation (TNC) an engine of growth capable of eliminating international economic inequalities or a major obstacle to development through a massive drain of surplus to advanced countries? This book presents five different perspectives on the role of TNCs: Neo-Classical Global Reach Neo-Imperialist Neo-Fundamentalist Internationalization of capital The author looks at their effect on local labour and capital, and considers the future prospects for TNC involvement in the Third World. The book provides an excellent comparative analysis of TNCs and will appeal to students in development studies and international economics.

This book examines the international technology transfer process and the role of both multinationals and host-country governments in that process, with emphasis on the experience of the more developed countries. It explores a range of issues and presents much original thinking and research findings. It discusses in particular the strategies of the multinationals, assessing how far they are willing to accept technology transfer to external partners (as opposed to subsidiaries which they can control). It also examines how far technical transfers are successful from the viewpoint of the firm and countries involved, arguing that governments are most likely to succeed in attracting multinational transfers if they are aware of and accommodate to some degree multinationals' preferences.

This book explores some aspects of the interface between technology, competitiveness and the role of multinational enterprises in the world economy. This group of essays stresses the role of asset creation and usage, rather than reliance on natural factor endowments as a basis for national competitiveness and examines the role of multinational enterprises as vehicles for technological transfer, and the efficient co-ordination of economic activity across national boundaries.

This book is a study of the economics of the large international firm, but is at the same time a study of one of the world's most important industries. International firms face difficult problems in attempting to deal with the conflicts between their own interest as world-wide economic organisations on the one hand, that of the countries in which they operate on the other, and with the conflicts of interest among the countries which are related to the international policies of the firms. The author analyses the underlying problems and points to possible solutions. When it was first published this was the first book by a professional economist to look widely at the economics of the international petroleum industry outside the industrialized countries.

Until this book was published little had appeared on the matter of the organization of production in oil gathering. This book: Describes the global offshore oil supply industry and its features on one of the world's major offshore oil services bases Draws on the theory of the multinational corporation to explain why buyers and sellers should have internationalized themselves into a symbiotic relationship Discusses the preference of the oil companies for vertical disintegration Explains the transaction cost paradigm Integrates the largely American literature on the transaction cost paradigm with the literature on the multinational corporation (which is largely British).

This set re-issues books originally published between 1971 and 1999 and reflects the growing importance of International Business as a serious academic discipline. The books selected include works by James Ahiakpor, Christopher Bartlett, Yves Doz, John H Dunning, Paul W Beamish, Candida Brush, Beat Burgenmeier, Jean-Louis Mucchielli and Alan Rugman, Edith Penrose, Nigel Thrift, Michael Taylor, Peter Enderwick, Howard Cox, Jeremy Clegg, Grazia Ietto-Gillies, Stanley Paliwoda and Peter Turnbull among others. They provide a new generation of scholars with access to some interesting ideas from some of the earlier pioneers in the field and examine topics such as: Multinational entrepreneurship The Finance of International Trade Multinational joint ventures Transnational corporations Global corporate strategy Research in international marketing.

The transition from socialism to capitalism in the formerly communist part of the world is a unique historical process of large-scale institutional change, likely to be remembered as one of the central economic events of the twentieth century. The transition process raises fundamental questions about the workings of the capitalist system and the dynamics of institutional change. Transition sheds new light on these questions because it reveals how the constitutive part of the capitalist system are built up at various speeds, using different models, in varying order, and starting from different initial conditions. This book is an authoritative reader on the economics of transition and emphasizes a view of transition that addresses broader areas of economics, such as development, public finance, and economic history.

Based on original fieldwork including interviews held with Japanese officials, this text provides important new insight into Japan and East Asian relations, principally through the close examination of changes in Japan's regional policy. Furthering discussions on Japan's new regional activism, Hayashi explores how Japan and East Asian relations have developed, how Japan's regional policy has changed, and why. In addition, the book challenges conventional views on Japanese foreign policy, arguing that it is not reactive but incrementally effective. The book incorporates three major case studies that provide detailed narratives and analysis of Japan and Washington's diverging ideological approaches, Japan's policies towards the East Asian financial crisis, and its policies towards East Asian regionalism.

This study examines determinants of foreign direct investment (FDI) as well as its sectoral and geographical distribution in the large and relatively closed economies of India and China, and contrasts them with the small but highly open economies of the Caribbean. Providing an extensive analysis of existing data, this study is a valuable contribution to policy formulation relating to FDI in developing countries.

There has been much written on the impact of international treaties like the Trade Related Aspects on Intellectual Property (TRIPS), which laments the failure of patent systems to respond to the interests of a diverse set of non-profit, public interest, and non-corporate entities. This book examines how patent law can accommodate what James Boyle terms a "politics," that is, "a conceptual map of issues, a rough working model of costs and benefits, and a functioning coalition-politics of groups unified by common interests perceived in apparently diverse situations."

A Politics of Patent Law provides a substantive account of the ways in which various types of participatory mechanisms currently operate in patent law, and examines how these participatory mechanisms can be further developed, particularly within a regional and international context. In exploring this, Murray highlights the emergence of constitutional law in international intellectual property law as being at the centre of the patent bargain and goes so far as to argue that the constitutional tradition in intellectual property law is as important as TRIPS. Ultimately, the book sets forth a "tool-box" of participatory mechanisms which would allow for, and foster third party participation in the patent process. This book will be of particular interest to academics, students and practitioners in the field of IP Law.

Why do poor countries give aid to others? This book critically examines how aspirations for providing aid have coexisted with experiences of receiving aid and have transformed the practice of giving aid, with particular reference to the experiences of Japan and China. It highlights the historical sources that explain the pattern and strength of foreign aid that these new donors provide. The book has systematically examined the situation unique to middle income countries that are receiving and giving aid simultaneously. It sheds light on the endogenous elements embedded in the socio-economic conditions of emerging donors, as well as their learning process as aid recipients. This book examines not only the perspectives of recipients, but also those of donors: Japan in the case of China, and the USA and the World Bank in the case of Japan. By bringing in the donor's perspective, we come to a holistic understanding of foreign aid as a product of interaction between the various agents involved. The book provides not only an in-depth case study of Japan from a historical perspective, but also stretches its scope to cover contemporary debates on "emerging donors," including China, India and Korea who have received substantial amount of aid from Japan in the past. This book connects the often separated discussion of Japanese aid and the way it developed in relation to outside forces. In short, this book represents the first attempt to empirically examine the "life of a donor" with a clear focus on the origins, struggles, and futures of non-western donors and their impact on established aid regime.

Over the past fifty years, crisis management has become essential to achieving and maintaining national security. This book offers a comparative analysis of the preconditions and constraints nine European states place on their participation in international crisis management operations and the important consequences of such decisions, and provides a theoretical framework to help the reader understand this complex decision-making process.

Even after half a century of work and much criticism, the driving importance of foreign aid shows no sign of abating. Widespread and acute poverty still ravages many countries of the world, and the understanding of how aid affects the economies of the recipient countries is still far from perfect. These two factors alone warrant the examination offered in this book.
The contents of this work try to bring together many strands of the literature, many of which are new and have a bearing on the subject of aid but which have as yet not found their way into the mainstream of the literature. This volume takes a broad survey and also provides a more specific treatment of elements of aid that have yet to be explored in the current literature.
This book can serve as both a reference work as well as a research monograph and should be of use for students, as well as for researchers and policy makers.

Issues relating to the size of firms in manufacturing are central to the discussion of development strategies. This book offers an interpretation of growth trajectories in selected Asian economies in terms of the size-structure of enterprises in the manufacturing sector of these economies. The book presents a comparative survey of distribution of enterprises by size across Asia, including India, Japan, Taiwan, Korea, Thailand, Bangladesh and Vietnam. A broad survey of official data on the size structure of manufacturing helps to identify three distinct patterns of manufacturing sector development and makes the connection between enterprise development and the overall impact on the economy. The book goes on to investigate the problem of the peculiar dual size structure of manufacturing in India, with its two modes at the low and high end of the size distribution and conspicuous 'missing middle', and the effect that this has on the economy. This pattern is contrasted with the 'East Asian, model with a more even size distribution, and the more recent experience of the newly developing countries of Asia with size distribution skewed to the right. It is an important contribution to studies on Asian Economics and Manufacturing Industries.