This title was first published in 2001. Focusing on new industries, policies and new forms of governance, the internationally renowned contributors to this volume examine the factors promoting the sub-national economic growth that is paradoxically occurring in an era of globalization.

Offering a retrospective view of how the system operated in Communist Czechoslovakia, this book is an important voice in the discussion about the systems of central planning. The unique features of the book include in-depth research comprising both archival records and analyses of around 75 interviews conducted with period managers across a wide range of management levels. They provided evidence of pervasive inefficiency resulting in appalling economic outcomes. The book begins with a background to the politico-sociological system in Czechoslovakia and proceeds to describe the Marxist-Leninist ideological foundation of the regime, which underpinned the formal setting of the Czechoslovak model. These initial chapters set the context for the subsequent analysis of the real functioning of the system. The book explores the economic outcomes that must be understood as a natural consequence of the ways in which this system operated. The author finishes by answering the important question of why centrally planned economies trailed behind the market economies. The book's unique use of the interview research format brings a vivid, close-up view of the everyday economic life in the centrally planned system. This will be a valuable contribution to the discussion surrounding the day-to-day reality of the system, which was found to be more colourful than is generally deemed. The book will appeal to both economic historians and students of economic history. A warning against repeating past mistakes, this book will also be of interest to those seeking a greater knowledge of the realities and consequences of centrally planned economies.

Innovation is often understood exclusively in terms of the economy, but it is definitely a result of human labour and ingenuity, and of the relationships among individuals and social groups. Some societies and governmental structures are clearly more successful than others: they act in divergent ways, fostering innovation and employment, and they utilize varied opportunities from different fields of research, from new products and from their educational systems. Thus, innovation varies fundamentally between countries, and public policies - in matters such as energy technology, environmental technologies, facing climate change, and advancing conditions of life - can be determined according to different societies' needs. This volume brings together a range of world experts to compare countries and continents and help develop a fuller picture of innovations and their social basis. It will be of interest to researchers in regional studies and economics, as well as labour unions, practitioners, and policy makers.

Originally published in 1972, Incomes Policy and the Public Sector is a consideration of the work conducted by The National Board for Prices and Incomes from 1965 to 1970. The Board, commonly known as the PIB, was intended to be the instrument through which an incomes policy could be shaped and guided in Britain. This book looks first at the reports that it made, and the criteria and judgements used, and then examines incomes policy by studying its impact in several areas in the public sector. Incomes Policy and the Public Sector offers a comprehensive overview of incomes policy from 1965-1970 and puts the reader in touch with 'real economic situations'.

This book is an attempt to capture and analyze several idiosyncratic features of industry and labor in the developing world. Available books and graduate-level texts in labor economics largely discuss industrial and labor market situations prevalent in developed countries, where well-defined institutional arrangements and regulations create a very different scope of analysis. The patterns of choice in training and contracts in the labor market more apparent in developing and transition countries are discussed, as are the information-theoretic results. The book also critically examines labor migration, a context in which the developing and transition countries represent large sources in the present global order. A broad base of empirical observations from industries is used to develop analytical conjectures on risk-sharing arrangements between workers and employers, while strong intuitive explanations are combined with relevant mathematical and graphical derivations, ensuring the book's readability among graduate students pursuing courses in labor economics and industrial economics for developing and transition countries. The book may also serve as a valuable reference guide for all students in advanced human resources courses at management schools. Presenting state-of-the art research findings in all of its chapters, the book discusses numerous institutional peculiarities of the developing world, making the results distinct in view of the general scope of labor economics.

In this timely volume on newly emerging financial mar- kets and investment strategies, Arvin Ghosh explores the intriguing topic of initial public offerings (IPOs) of securities, among the most significant phenomena in the United States stock markets in recent years. Before the 2000-2001 market turndown, hardly a week went by when more than a few companies did not become public, either in the organized stock exchange or in the Over the Counter (OTC) market. In the often over-burdened, technology-heavy Nasdaq market, the role of IPOs was crucial for the market's new vigor and growth. Internet stocks were able to find a mode to supply key momentum to the market. In the so-called "New Economy" of the 1990s, it was the seductively accessible IPO that ushered in the world's information technology revolution.

Ghosh sets out to examine the pricing and financial performance of IPOs in the United States during the period 1990-2001. In the opening chapter he discusses the rise and fall of IPOs in the preceding decade. Chapter 2 further delineates the IPO process from the start of the prospectus to the end of the "quiet period" and aftermarket stabilization. In chapter 3 Ghosh analyzes the mispricing and deliberately deceptive underpricing, or "flipping," of Internet IPOs. Chapter 4 delves deeper into the pricing and operating efficiency of Nasdaq IPOs. Chapter 5 analyzes the pricing and long-run performance of IPOs both in the New York Stock Exchange and in the Nasdaq markets. In chapters 6 and 7 the author deals with the pricing and performance of the venture-blocked and nonventure-backed IPOs in general and Internet IPOs in particular. In chapter 8 he analyzes the role of underwriters as market makers. In chapter 9 Ghosh discusses the accuracy of analysts' earnings forecasts. In the concluding chapter, he summarizes the principal findings of the study and the recent revival of the IPO market and its place in capital formation as well as the latest developments in the realm of United States IPOs.

This work brings forth the true nature and consequences of the recent IPO phenomenon. It is a fascinating financial read and must-have for any future financier.

Arvin Ghosh is a professor in the Department of Economics, Finance, and Global Business at William Paterson University in Wayne, New Jersey.

First published in 1999, this volume examines technology in developing countries with a focus on Vietnam. One of the world's poorest countries, Vietnam has begun rehabilitation following the Vietnam War. Tran Ngoc Ca had four aims for this study. First, exploration of the development of TC in Vietnamese industrial companies and looks at how the learning process is related to the accumulation of TC. Second to detail links between macro environment factors and micro internal actions of firms and their impact on TC. Third, addressing specific issues in comparison with other developing countries and transitional economies. Fourth and finally, to provide a background for the implementation of policy concerned with enhancing TC acquisition.

Originally published in 1972, Incomes Policy and the Public Sector is a consideration of the work conducted by The National Board for Prices and Incomes from 1965 to 1970. The Board, commonly known as the PIB, was intended to be the instrument through which an incomes policy could be shaped and guided in Britain. This book looks first at the reports that it made, and the criteria and judgements used, and then examines incomes policy by studying its impact in several areas in the public sector. Incomes Policy and the Public Sector offers a comprehensive overview of incomes policy from 1965-1970 and puts the reader in touch with 'real economic situations'.

This book analyses the financing problems of Greek small and medium-sized enterprises (SMEs), within a liberalized financial system and within an economic environment of fiscal and monetary constraints. Using recent data covering a ten-year period, the main aim of the research is to explain the interdependence between the situation of the banking sector generally and that of small and medium enterprises. The author argues that the reluctance of banks to lend to Greek companies because of the strict financing constraints, due to the national debt crisis, serves to exacerbate the cycle of economic recession. This factor seriously undermines the efforts of Greek companies to develop growth opportunities, and negatively affects their competitiveness as well as their ability to strengthen their market position. The author examines the supply and demand aspect of the problem: there is lower demand for lending due to the decline of demand for goods and services as well as a tightening of banks'credit standards, whilst on the supply side, the deteriorating financial situation of banks and their willingness to avoid increasing risk are important contributing factors. Finally, the author presents the main conclusions of the analyses carried out in the previous sections of the book and discusses some relevant recommendations for future research. Building on the extant literature, this book analyses the problem from the point of view of both businesses and the banking sector. The study is useful for scholars, businesses and policy decision makers who are interested in the problem of small and medium-sized enterprises financing.

Transportation Network Companies and Taxis: The Case of Seattle is a modern economic case history and thorough analysis of the devastating impact of the transportation network company (TNC) industry (Uber and Lyft) on the taxicab industry in Seattle, Washington, beginning in 2014. The events that transpired and lessons learned are applicable to most large cities in North America, Europe and Australia. As the regulator of the taxicab and TNC industries in Seattle during this period, the author offers a unique insider perspective. The book also provides internal operating statistics on the TNC industry, which are available here for the first time. Despite the spectacular growth of the TNC industry, growth rates have steadily declined and may fall to zero by 2019 or 2020, while the taxicab industry appears to have begun a modest recovery. This book offers a thorough explanation of how and why this decline has happened. It explains the taxicab industry, economic deregulation, competitive market failure, market disruption, price elasticity of demand and other concepts. There is also a wealth of data, computations and analysis for the specialized reader. This book considers the past, present and future of the taxicab and TNC industries in Seattle, It is recommended for both the general reader and industry professionals.

This book offers a comprehensive overview of the dynamics underpinning the successful performance of local innovation systems (LIS), that is, spatial concentration of innovation activities in specific geographical areas, characterized by the synergetic co-localization of research centers, innovation-driven enterprises, large corporations and capital providers. The reader will gain a deeper knowledge of LIS theory and learn about the theoretical and empirical challenges of studying the LIS from a relational perspective. The book also provides an analytical framework to explore the level of connectivity among LIS actors through the use of social network analysis (network architecture) and second, to assess the variety of different types of relationships that local actors put in place to produce innovation within the LIS (network portfolio). More specifically, this book explores which network configuration is associated with a successful LIS by deriving evidence from the empirical study of the biopharma LIS in the Greater Boston Area (GBA), which has been exemplified as a benchmark case in terms of successful LIS performance. This book also contributes to the theoretical debate about the optimal configuration of network structure (e.g. network closure vs. network openness). In capturing the heterogeneous nature of the LIS demography, it addresses the challenges brought about by the adoption of a holistic approach. Finally, the study provides insights into the network portfolio composition, which has been underexplored by extant literature. Besides addressing the scientific community in the field, this book will also be a valuable resource with practical implications for policymakers and those actors willing to undertake an active role in the development of an LIS in their own regions.

Since its inception Research in Labor Economics has published over 350 articles encompassing a wide range of themes and spanning an array of labor economics topics. Authors have ranged from young scholars with much potential to mature leaders in the field, including Nobel Prize and John Bates Clark award winners. Over the years Research in Labor Economics has continued to present important new research in labor economics. It covers themes such as labor supply, work effort, schooling, on-the-job training, earnings distribution, discrimination, migration, and the effects of government policies on worker well-being. It aims to apply economic theory and econometrics to analyze important policy-related questions, often with an international focus. To commemorate Research in Labor Economics's 35th anniversary, this retrospective edition contains 20 of the most influential Research in Labor Economics articles along with new introductory prefatory updates written by the original authors. These new prefaces emphasize recent developments that each article might have inspired and also discuss remaining unanswered questions.

The author of the award-winning trilogy A Financial History of the United States now provides a definitive new reference or the major failures of American corporate governance at the start of the 21st century. An essential resource for students, teachers and professionals in business finance, and securities law, this exhaustive work provides in-depth coverage of the collapse of the Enron Corporation and other financial scandals that erupted in the wake of the market downturn of 2000. The authoritative volume traces the market boom and bust that preceded Enron's collapse, as well as the aftermath of that failure, including the Enron bankruptcy proceedings, the prosecution of Enron officials, and Enron's role in the California energy crisis. It examines the role of the SEC's full disclosure system in corporate governance, and the role of accountants in that system, including Arthur Andersen LLP, the Enron auditor that was destroyed after it was accused of obstructing justice. The author chronicles the meltdown in the telecom sector that gave rise to accounting scandals at Nortel, Lucent, Qwest, Global Crossing, Adelphia, and WorldCom. Computer Associates, AOL Time Warner, Vivendi, HealthSouth, and Hollinger. Markham also covers such Wall Street scandals as the Martha Stewart trial, the financial analyst conflicts, and the mutual fund trading abuses. He analyzes the Sarbanes-Oxley legislation that was adopted in response to these scandals, the burdens it imposes, and continuing flaws in full disclosure. Markham also traces the remarkable market recovery that followed the scandals and addresses the misguided efforts of corporate governance reformers that led to the abuses.

The 'boom' in foreign direct investment (FDI) since the mid-1980s, continues to be paramount in policy interest. This book reviews the literature on the nature of FDI and reports the recent results on the performance of FDI plants in order to show the implications for regional economic development. It presents new evidence on the nature and performance of these plants, using a unique dataset that has been constructed and rigorously analyzed by applying econometric techniques. The role of FDI in economic development has long been poorly understood and this book contributes to improving understanding, and is of direct policy relevance. An examination is made of the generation, theory and location of FDI, as well as its implications for regional and national development. In addition to this, analysis is made of the issues at the project and plant levels, related to investment, employment and firm survival.

This study provides a fascinating, fresh analysis of the virtues of shareholder participation in the context of contemporary corporate governance. By applying recent empirical studies to human happiness, McConvill convincingly argues that shareholders, particularly individuals, should be included in the internal governance framework of public corporations and enjoy a direct participatory role in the corporation if they so choose. Recent studies have consistently shown that active participation is one of a limited number of factors that has a positive correlation with levels of personal happiness, however while disciplines within the social sciences have long considered the implications of these findings, legal scholars have failed to grasp their significance. Shareholder Participation and the Corporation addresses the dearth of literature currently available by exploring and evaluating the implications of empirical happiness studies in relation to corporate law and governance, focusing specifically on the role of the shareholder. It provides a compelling argument for those seeking to analyze shareholder participation in a different light.

Originally published in 2005. Countries at different stages of social, cultural and economic development approach the process of skill formation in different ways. In this enlightening collection, Marcus Powell uses empirical evidence to document how different nations formulate their training strategy, including how labour market information is used to inform decision making and the role stakeholders play in the process. Drawing on unique practical and research based experience from a variety of authors (all of whom have been employed as senior advisors or consultants to national governments or multilateral donor agencies) it provides unparalleled access to the expertise of key professionals and their knowledge about skill formation.

This book provides a comprehensive introduction to the economics of the business of maritime transport. It provides an economic explanation of four aspects of maritime transport, namely, the demand, the supply, the market and the strategy.

The book first explains why seaborne trade happens and what its development trends are; it then analyses the main features of shipping supply and how various shipping markets function; the book finally addresses the critical strategic issues of the shipping business. The full range of different types of shipping are covered throughout the chapters and cases. The book combines the basic principles of maritime transport with the modern shipping business and the latest technological developments, particularly in the area of digital disruption.

The ideas and explanations are supported and evidenced by practical examples and more than 160 tables and figures. The questions posed by the book are similar to those that would be asked by the students in their learning process or the professionals in the business environment, with the answers concentrating on the reasons for what has happened and will happen in the future rather than merely fact-telling or any specific forecast.

The book is most suited for students of shipping-related disciplines, and is also a valuable reference for maritime professionals.

Business strategy is becoming increasingly "pluralist", drawing on the insights of different disciplines, and business practice in different parts of the world. This book brings together the work and ideas of leading international scholars working in the field under three main headings - technology, strategy and organization, and regions. The purpose of the book is to explore from different perspectives the dynamic interplay between the technology of a firm - its strategies, organizational choices and issues of place, region, and location. The contributors are Peter Hagstrom, Alfred Chandler, Takahiro Fujimoto, Richard Nelson, Nathan Rosenberg, Erik von Hippel, Cristiano Antonelli, Giovanni Dosi, Benjamin Coriat, David Teece, Gunnar Hedlund, Pari Patel, Keith Pavitt, Ikujiro Nonaka, Hirotaka Takeuchi, Lars-Gunnar Mattsson, John Cantwell, John Dunning, Michael Enright, Masahisa Fujita, Ryoichi Ishii, Allen Scott, Orjan Solvell, Ivo Zander, J-C Spender, and Michael Porter. Together they address the challenge of explaining the long-run competitiveness of firms in an ever more global world.

The existence and persistence of regional disparities between European regions require context-tailored policies to promote structural change. This book explores the congruence between place-based development and regional competitiveness in the EU context. Drawing on a range of social science disciplines, this book unpicks the complexity of regional transformation processes, aiming to enhance the applicability and transferability of theoretical approaches to innovation and place-based regional development in diverse European territorial settings. The contributors have a particular focus on less-favoured regions and on the application of Smart Specialisation - a strategic approach to innovation-based regional development - to the issues at hand. The book comes at a critical moment, meeting the growing demand of academics, practitioners and policymakers with an interest in promoting regional economic growth and well-being.

From a managerial perspective, the biopharmaceutical industry represents a competitive, fast-changing, intellectually-powered, innovation-driven sector. Many management scholars have studied this discontinuous era to make sense of strategic behavior and the cognition of firms and top managers. A past look at the biopharmaceutical industry provides answers to questions that most managers have. For example, what options do you have and what actions do you take when new firms enter your industry? In the 1970s, new biotechnology firms, funded by venture capitalists, appeared in the pharmaceutical industry with new knowledge. Successful pharmaceutical firms decided to collaborate with the new entrants and forge relationships to develop and create new, biotechnology engineered drugs. Thus, the addition of new biotechnology firms ushered in a new business model based on strategic alliances. Strategic alliances have now become an industrial norm called open innovation. The author looks at the historical path of the biopharmaceutical industry, particularly in the United States. While the pharmaceutical industry's main contributions to society are substantial, there are pressing challenges the industry must face, such as an increase in infectious disease outbreaks or the global aging population, which require new types of care, additionally, mental health care and prescription painkiller addiction are persistent issues with economic repercussions to both federal and local governments. This book presents a holistic view of the biopharmaceutical industry, putting it in a historical context. It will best serve those who are eager to learn about this dynamic, fast-evolving industry and who would like to tackle current biopharmaceutical industry issues in the United States and be prepared for future industry challenges.

In recent years, there has been an increasing emphasis placed on local and regional integration in major planning projects and infrastructure development including roads, rail and waterways. This emphasis is not only on integrating various projects, but also integrating them with related issues such as housing, industry, environment and water. In other words, land-use planning and infrastructure management have become more spatially-oriented. This book brings together experts in the fields of spatial planning, land-use and infrastructure management to explore the emerging agenda of spatially-oriented integrated evaluation. It weaves together the latest theories, case studies, methods, policy and practice to examine and assess the values, impacts, benefits and the overall success in integrated land-use management. In doing so, the book clarifies the nature and roles of evaluation and puts forward guidance for future policy and practice.

There is a broad and long-standing debate on possible solutions to the regional vulnerabilities of globalisation. In 2014, the European Commission began implementing Smart Specialisation Strategy, a place-based strategy of growth, regional transformation and new industrial policy with collective entrepreneurial discovery processes (EDP) at its core. This volume approaches the mystery of entrepreneurial discovery; that is, how relevant knowledge is created, converted and shared in a process of discovery. These essays bring together scholars from economics, geography, sociology, organisation studies, innovation studies, and complexity theory, offering new approaches to overcome the limitations of place-based development and suggesting improved methods leading to growth.

In the twenty-first century technology has become global, and firms compete using knowledge and capital. The 'traditional firm' has a need for innovation and depends on efficient knowledge management to improve productivity. This book examines five firms that produce the same commodity, white chicken meat, in different parts of the world and under very different conditions. It brings to bear the expertise and international perspectives of the author team, utilizing theoretical discussions and case studies to address the question: How do local firms use knowledge to compete in an increasingly globalized world? This book will be of interest to any postgraduate student, researcher or policymaker hoping to achieve a firmer grasp of innovation and knowledge management: a recurring and highly pertinent theme in contemporary economics.

Following drastic shifts in the spatial organization of goods production, increasingly fierce competition now forces firms also to look critically at how to organize the production of services. While digitization and advances in information and communication technologies have enabled firms to unbundle service production processes, the increased global availability of skilled labour allows for the relocation of ever more of these processes around the world. As a result, a new geography of services production takes shape: a geography that is defined by new interregional and international divisions of labour and held together by increasingly complex global services production networks. This book examines how the reorganisation of services production alters relations between and generates different sets of challenges and opportunities for economic development in the Global North and the Global South. Drawing from 11 case studies probing various aspects of services production in different parts of the world, the book brings out the remarkable heterogeneity and transformative capacities of services. It successively shows how global trade in services creates new interdependencies between services producing and services consuming regions; reveals how services help to mitigate the impact of and contribute to recovery from economic crises in the Global North; and demonstrates how services offshoring fosters economic development and service-sector driven modernisation processes in the Global South. The book's openness to the heterogeneous and dynamic nature of services production enlarges our understanding of which particular services in which spatiotemporal context have the capacity to generate good jobs, contribute to productivity and drive economic growth. The book stands out from other books in the field in that it combines perspectives on services-driven transformations from both the Global North and the Global South and looks into the role of various services segments. Based on pioneering empirical research and original data it offers a timely contribution to this growing debate. The book provides valuable insights for students, scholars and professionals interested in services, services offshoring, services-driven growth, and socioeconomic transformations in the Global North and South.

Employment has changed dramatically in the last few decades with the onset of neoliberal globalization. This change has become the objective of inquiry from different perspectives, such as development studies, labour economics or industrial relations, focusing on different units of analysis. The Political Economy of Employment Relations provides an exceptional contribution to existing literature by presenting alternative theory and practice on employment relations. It is within this critical theoretical intervention that solidarity economies emerge as a unique theoretical construct as well as a unit of analysis to expose the alternative paths that employment relations may resort to against the contemporary challenges of neoliberal globalization. This book analyses globalization, global economic crisis, and issues of work and labour from the point of view of the developing world, presenting local case studies from countries including the USA, India, Spain and Greece, and outlining alternative approaches to global challenges. This volume has relevance to those with an interest in industrial relations, sociology of work and occupations, labour economics and development economics.