This significant new book provides a succinct overview of the essential policy issues surrounding capital liberalization. The book compares the experiences of transition economies in Europe with those of advanced nations, allowing the reader to examine the changing international economic and financial environment within which transition countries have to liberalize. The book first deals with the critical issues concerning liberalization, including sequencing and financial market development. The authors move on to present an overview of the early liberalization experiences of advanced economies and East-Asian countries. This provides the context for a series of chapters reviewing liberalization progress in transition economies, in which international experts and senior officials analyze their own countries' experiences. The authors also emphasise the importance of financial market reform and the construction of a sound institutional framework if countries are to attract and productively use capital inflows. A stable financial system, whilst not infallible, is also crucial for minimizing the risk of financial crises of the type experienced by a number of countries during the 1980s and 1990s. The comprehensive scope of the subject matter and international contributions from a range of different perspectives will ensure this book is warmly received by academics and researchers with an interest in EU accession, transition economics and financial market reform. It will also serve as a useful guide to governments involved in capital liberalization in other parts of the world such as Latin America and Asia.

The issue of electricity reform has been on the agenda in Europe for a decade and remains a high priority for policymakers looking to the future. However, the performances of new electricity markets are still not clear and arouse significant controversy. This book focuses on the diversity of electricity reforms in Western Europe, drawing evidence from ten European Union memberstates plus Norway and Switzerland as associate members. The contributors analyse the various ways of introducing competition in the European electricity industries, and consider both the strategies of electricity companies and their behaviour in electricity marketplaces. They also offer an explanation of the differences of reforms by the institutions and the industrial structures of each country which shape the types of marketrules, industrial restructuring and public service regulations which have been adopted. As a whole, this volume will attract scholars, PhD and post-graduate students, notably those interested in energy economics, comparative institutional economics and applied industrial economics. European and non-European energy companies or regulatory authorities looking for an independent and analytical overview of European electricity markets will also find this book of great interest.

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

In this seminal book, a distinguished group of experts pinpoint and rigorously analyse central topics in international business research. This volume will become a major reference tool for understanding the economics of multinational enterprise. The emphasis throughout is on a new dynamic research agenda, for theory, for empirical research and for public policy. The wide-ranging topics discussed include: * the importance of the location of production * market structure and multinational enterprise * technology, productivity and the multinational firm * multinational enterprises and developing countries * international business and public policy issues * analytic models. The juxtaposition of ideas will provoke productive discussions among faculty and at conferences, and will stimulate useful new thought processes in any individual researcher. This book will be required reading for academics and scholars seeking guidance on the future research agenda for the economics of multinational enterprise.

It is hard to think of anyone who has contributed so much and so widely to research in international public finance in the last 40 years as has Richard Bird. This volume of essays emerged from a conference dedicated to him. It also expands on our understanding of international public finance.Richard Bird's academic and applied work has always benefited from a far-reaching involvement with, and knowledge of, relevant policy issues in many countries around the world. The range of public finance issues to which he has contributed over the years covers practically the whole gamut of the public finance discipline: tax policy, tax administration, the interdependency between the two, intergovernmental fiscal relations, public expenditure policy, and fiscal management processes. The topics covered in this book reflect the wide contributions of Richard Bird to the subject of international public finance, including original reviews of intergovernmental fiscal relations, fiscal policy, and tax evasion and tax administration, all with a special focus on transition and developing countries. These essays, by top scholars in their own right, will deepen our own understanding of relevant problems and issues in international public finance, much like Richard Bird has been doing for many years, and will be of interest to economists, policymakers and students.

This volume investigates the relationship between economic globalization and institutions, or global governance, challenging the common assumption that globalization and institutionalization are essentially processes which exclude each other. Instead, the contributors to this book show that globalization is better perceived as a dual process of institutional change at the national level, and institution building at the transnational level. Rich, supporting empirical evidence is provided along with a theoretical conceptualization of the main actors, mechanisms and conditions involved in trickle-up and trickle-down trajectories through which national institutional systems are being transformed and transnational rules emerge. The book collectively argues that transnational institution building is one of the most striking features of the current period of internationalization. As a consequence, debates concerning globalization and global governance have to be reformulated. The authors posit that globalization is not threatening governance, but in fact globalization reflects a particular type of governance. The dilemma, therefore, is not between globalization and institutions, but between different meanings of governance and the balance that should be reached between them. Globalization and Institutions will be of special interest to academics and scholars of institutional economics, globalization and management. However, with its focus on two key debates for which there is clearly rising interest, many social scientists will find the book of interest.

Using original research to address cutting-edge topics, this Handbook explores the rapidly evolving and increasingly multifaceted relations between China and developing countries. Innovative, data-rich analysis by leading experts from around the world critically assesses such timely issues as the 'China model', Beijing's role in international development assistance, World Bank governance, Chinese peacekeeping and South-South relations, and developing countries and the internationalization of China's currency. China's engagement with individual countries and regions throughout the developing world is examined, including Chinese private sector investment in Africa. This unique and comprehensive study is an essential reference for scholars and policy experts alike, with a breadth and depth of coverage that will inform and guide analysis for academics, practitioners and postgraduates. Contributors: L. Austin, A. Bodomo, D. Brautigam, D.J. Bulman, C. Cheng, G. Chin, C.P. Freeman, M. Gurtov, S. Ho, G.L. Le Pere, B. Mariani, H. Mo, G. Paz, R. Roett, S. Shen, X. Shen, Y. Sun, N.L.P. Swanstroem, X Tu, M. Turzi, T. Wesley-Smith, Y. Xu, J. Zhang, Q. Zhang, S. Zhao

This forward-looking volume offers insights into the globalization of the Chinese economy and its accession to the WTO. The contributors provide updated accounts of recent developments in the Chinese economy and examines the implications of China's accession for the rest of the world. Firstly, the volume offers an overview of possible changes in industrial policies and analyzes new developments in some important sectors, including agriculture, telecommunications and automobiles. It addresses the key concerns in China regarding its entry into the WTO, such as whether the WTO membership will cause massive unemployment and/or exacerbate inequalities among regions. Finally, it evaluates the implications of increased trade and financial ties with China for the rest of the world, investigating the conditions facilitating foreign direct investment in China and assessing potential trade disputes as trade between China and the rest of the world grows. The Globalization of the Chinese Economy provides a comprehensive picture of the political, economic and social environment in China as a whole. It will be of particular interest to academics of Asian studies and international relations as well as policymakers in the US, China and other Western economies.

While characteristically 'Austrian' themes such as entrepreneurship, economic calculation, tacit knowledge and the temporal structure of capital are clearly relevant to the business firm, Austrian economists have said relatively little about management, organization, and strategy. This innovative book features 12 chapters that all seek to advance the understanding of these issues by drawing on Austrian ideas. Building on existing research in transaction cost economics, agency theory, evolutionary economics and the resource-based theory of the firm, the authors cover a wide range of theoretical and applied topics. These include knowledge management, authority and hierarchy, modularity, corporate restructuring, telecommunications regulation and competitive advantage. They clearly show how Austrian ideas can usefully engage, challenge and extend more mainstream perspectives on economic organization. There are many books on Austrian economics and many more on the theory of the firm, but virtually none that integrate these two bodies of literature. Scholars of Austrian economics and academics interested in strategy, organization and the theory of the firm will draw great value from this insightful book.

In this book, leading experts in the field examine the effects of the recent growth in concentration in the European food retailing sector. In particular, the book develops a number of buyer power propositions and builds on the previous work of several of the authors, to consider how the growth of large supermarket chains affects competition in food retailing. The authors outline the theoretical and policy analysis underpinning the work and assess evidence on the size and growth of supermarket chains across the EU. Whilst not entirely critical, they suggest that there is strong evidence in some countries that supermarkets use their buying power to impose unfair terms and conditions on suppliers, particularly affecting small suppliers. The authors use case studies, to provide an in-depth analysis of four European countries, namely France, Germany, Spain and the UK. The book ends with a discussion of policy issues against a backdrop of likely future trends in concentration in this area. Academics working in the areas of microeconomics and industrial economics as well as those involved in European competition policy more generally, such as lawyers, civil servants and consultancy groups, will find this volume enlightening.

Taiwan has become a significant player on the world stage in many areas and has developed a distinct international profile and influence. Its pro-active foreign policy firmly reminds the world of a new political entity's achievement, aspirations and unfulfilled ambitions. This pioneering book discusses Taiwan's pragmatic diplomacy as a way of seeking legitimacy, survival and development for a burgeoning nation-state, against the dynamic changes in domestic and international scenes and tumultuous relations with China. With special reference to Taiwan's relations with Southeast Asia, a key region in Taiwan's international linkages, the book investigates three major pillars sustaining Taipei's unorthodox diplomacy. These three pillars are: Taiwan's investment and trade prowess, and the global networks built by its business elite; its special relations with global ethnic Chinese communities; and transnational activism of Taiwan's political, social and religious groups, in a so-called 'total diplomacy'. Political Scientists, students and international policy makers along with anyone interested in the changing role of China and Taiwan on the world stage will find this book lively and informative.

Whilst contemporary economies are innovative, they are also predominantly service economies in so much as services are the main source of wealth and employment. However, there is still considerable unwillingness to consider innovation in terms of services, a paradox rooted in an obsolete conception which regards manufacturing as the only engine of growth. In this book Faiz Gallouj propounds a theoretical framework which describes and evaluates the main approaches to analysing and understanding innovation in services. He provides interesting and extensive empirical material on the nature and sources of innovation in various services sectors and countries, and makes an original contribution both to theories of innovation in services and theories of innovation in general. Taking both an evolutionary and conventionalist stance, he demonstrates that services, and more importantly innovations in services, can be regarded as the new wealth of nations. This informative and original book will prove invaluable to academics and students interested in economics, innovation, structural change, sociology and management. It will also be welcomed by practitioners and managers in service organisations.

Knowledge is fast becoming one of the main sources of wealth, yet it can also become a source of inequalities. The New Knowledge Economy in Europe attempts to determine whether it is possible to hasten the transition towards a knowledge-based economy and enhance competitiveness with increased employment and improved social cohesion across Europe. The book is an amalgamation of the scientific and political agendas which led to the European strategy for the knowledge-based economy adopted by the European Union. Its authors illustrate their own influence on European policy making with contributions on a broad range of subjects, including: * the potential for the growth of a knowledge-based global economy * new challenges for the welfare state * emerging trends in employment * the role of international benchmarking as a policy learning tool * the construction of European identity * the building of multilevel governance required to undertake reforms. The results of the European strategy for the knowledge economy have become apparent throughout the EU in policy areas including research, innovation, single markets, education and employment, amongst others. This is the new blueprint for economic and social modernisation in the EU. The New Knowledge Economy in Europe will be of great interest to academics, managers, public administrators and professional organisations involved in studies of Europe or innovation.

In this unique work, Jennifer Considine and William Kerr contend that while OPEC currently dominates the international oil market, Russia will be a key player in the future international energy market. Indeed, Russia's petroleum resources rival those of Saudi Arabia. More than almost any other industry, future performance is often determined by the influence of decisions made in the past. This book provides a detailed history of the development of the Russian oil economy in order to build up a comprehensive and discerning picture of its future role and significance in the global energy market of the 21st century. The authors of this path-breaking treatment of the Russian oil economy present: * an assessment of the effects of the political and macroeconomic development of the Russian Federation and former Soviet Union on the resources, reserves and infrastructure of the current oil industry * an economic evaluation of the contemporary policies and institutions in the Russian Federation, including policy recommendations and forecasts * detailed statistics on all aspects of the Russian oil industry, including reserves, production, five-year planning targets, government policy, and tax rates, from 1860-2001. The Russian Oil Economy will be of enormous interest to a wide-ranging audience, encompassing oil industry executives and analysts, investment bankers, energy consultants, energy policymakers, and those involved in the study, teaching and research of energy, Russian history and transition.

This book reprints 18 essays selected from almost 30 years of work by the author as a high level official at the UN Conference on Trade and Development, the US Treasury Department and the World Bank. These essays report some of the core analytical thinking behind positions taken by these agencies on major issues in international trade policy: e.g., the shift of view on 'trade and development' from the presumption that developing countries should receive 'special and differential treatment' to today's view that they should aggressively exploit opportunities that international trade offers. Other essays report analytical work at the US Treasury Department on proposals in the 1970s for a 'New International Economic Order' - findings that supported the more conservative line that the US government eventually took, even though the Kissinger State Department urged a more accommodating line. Some essays are highly critical, e.g., of antidumping and its use by developing countries as well as by the United States, and of the GATT/WTO system itself as a template for economic policy. Scholars and students interested in how the GATT/WTO works as a policy making system will find this collection revealing as will readers interested in a way to evaluate the impact of antidumping (and other 'trade remedies') on the national economic system and on how to construct policy mechanisms that more effectively bring the interests of all US citizens into the making of US trade policy. In addition, many of these essays are useful for courses in international economics, international relations and policy science.

Korea has been at the centre of intense debate concerning the role of government in economic development. Taking an in-depth approach, this book analyses the path of Korea's industrial technology development. In contrast to many previous studies on Korea, the author argues that the role of foreign multinational enterprises has been significant while the government's was surprisingly limited in scope. The author addresses three main questions: * How was Korea able to develop so effectively despite the low inflow of foreign technologies and capital? * What is the role of multinational enterprises in 'teaching' technology to the firms from developing countries? * What has been the influence of public policy on Korea's technology development? The author demonstrates that the key to the Korean electronics industry's spectacular growth has been through its participation in and learning from an inter-firm arrangement called 'original equipment manufacturing' (OEM) arrangement, and a number of firm-level case studies support this argument. This book will be of special interest to scholars of industrial and development economics, innovation and Asian studies. It will also be of use to policymakers responsible for industrial policy development.

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

Exhaustively researched and updated, South Asia 2023 is an in-depth library of information on the countries and territories of this vast world region. General Survey Essays by specialists examine issues of regional importance. Country Surveys Individual chapters on each country, containing: - essays on the geography, recent history and economy of each nation - up-to-date statistical surveys of economic and social indicators - a comprehensive directory providing contact details and other useful information for the most significant political and commercial institutions. In addition, there are separate sections covering each of the states and territories of India. Regional Information - detailed coverage of international organizations and their recent activities in South Asia - information on research institutes engaged in the study of the region - a survey of the major commodities of South Asia - bibliographies of relevant books and periodicals. Additional features - biographical profiles of almost 300 prominent individuals in the region.

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

The widespread capital market liberalisation has resulted in a massive surge in international capital flows and the development of a more integrated world financial system. At the same time, however, the volatility of capital flows has increased and the stability of this modern financial system has been called into question by a number of financial and currency crises. In this volume the editors assess the behaviour of international capital markets during this period, focusing on both the causes and the consequences of financial instability. They examine the origins of the Latin American and East Asian crises and the lessons that can be drawn from these, and they consider the proposals for reform of the international financial system which have followed. This collection of papers, written by both academics and practitioners, is addressed both to specialists and to a wider audience, and will provide insight into an extremely important global development.

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

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

This substantial book examines key economic, political and social aspects of Malaysia at the turn of the new century. It covers the years of rapid growth and dramatic structural change leading up to the 1997 financial crisis, and the subsequent adjustments which enabled the economy to resume its vigorous advance. The authors critically address affirmative action policies aiming to help Malays enter the modern economy and make income distribution more equitable while reducing poverty. They look at case studies of persisting poverty amidst economic progress, and also scrutinize the development of East Malaysia with its special problems away from the centre of power in Kuala Lumpur. The authors review the direction of politics after Prime Minister Mahathir, as well as exploring Malaysia's foreign, education, and labour policies. They canvass the idea of a 'new Malay' better adapted to modern society, investigate the position of the Chinese, examine the struggle for women's rights within the religious framework of Islam, and discuss the contributions of Malaysian NGOs to ongoing changes. They finally draw together crucial issues facing Malaysia in the 21st century. The contributors, who are leading scholars in their spheres, have produced a wide ranging and comprehensive guide to the economy and society of Malaysia. This book will be of great value and interest to students and scholars of Asian economics, development and social studies.

Europa's comprehensive survey of Eastern Europe, Russia and Central Asia. General Survey Leading authorities on the region analyze topics of regional importance. Country Surveys Chapters on each country, containing: - essays on its recent history and economy, and a chronology of events - an extensive statistical survey of economic indicators - a comprehensive directory of the most significant political, commercial and cultural institutions - a bibliography of books concerned with the country's history, politics and economy - detailed coverage of the self-proclaimed secessionist territories of the region, including, for the first time, chronologies of events. Who's Who in Eastern Europe, Russia and Central Asia - biographical information on more than 150 leading political figures in the region Regional Information - a directory of major international organizations and research institutes concerned with the region - select bibliographies of books and periodicals.

Borrowing is a crucial source of financing for governments all over the world. If they get it wrong, then debt crises can bring progress to a halt. But if it's done right, investment happens and conditions improve. African countries are seeking calmer capital, to raise living standards and give their economies a competitive edge. The African debt landscape has changed radically in the first two decades of the twenty-first century. Since the clean slate of extensive debt relief, states have sought new borrowing opportunities from international capital markets and emerging global powers like China. The new debt composition has increased risk, exacerbated by the coronavirus pandemic: richer countries borrowed at rock-bottom interest rates, while Africa faced an expensive jump in indebtedness. The escalating debt burden has provoked calls by the G20 for suspension of debt payments. But Africa's debt today is highly complex, and owed to a wider range of lenders. A new approach is needed, and could turn crisis into opportunity. Urgent action by both lenders and borrowers can reduce risk, while carefully preserving market access; and smart deployment of private finance can provide the scale of investment needed to achieve development goals and tackle the climate emergency.