The effects of globalization strategies of multinational enterprises (MNEs) on national and local development are explored and analyzed here and implications of these effects for policy makers are highlighted. Containing contributions from international business scholars, the text addresses this previously little explored but critically important issue for the future of the world economy.

This stimulating book addresses the relationship between market authority and political authority - a favourite theme of Susan Strange to whom the book is dedicated. From a survey of the bias against capital liberalisation in economic thought to an analysis of the US role in global monetary affairs, it discusses how and why free capital flows contribute to the instability of the global capitalist system. The internationally renowned contributors analyse the history and theory of international capital flows to make sense of contemporary global investments and what they mean for global polity and the economy. They argue over the challenges of integrating large developing countries into a liberal world order and the consequences of the multilateral system for the world's poor. In further discussions they investigate the sustainability of global capitalism in light of financial crises, widespread inequality and the uncertain future for traditional welfare states. They also advance various mechanisms through which they believe greater stability and equity could be introduced into the global financial system and the world economy. Implicit in these arguments is the shared belief that tensions between visions of a rule-based, liberal world and concepts of a more equitable distribution of resources drive most of the major conflicts in the global economy. Investigating the economic, political and social drawbacks of volatile global finance, and the human choices required to introduce stability, equity and a sense of purpose to the world economy, Markets and Authorities will be an invaluable addition to the fields of economics, political science, political economy and international business.

This proceedings volume provides current research on emerging issues in business, economics and finance in the global economy with particular emphasis on Eastern Europe. Featuring selected papers from the 2017 International Economics Conference in Sibiu (IECS) organized by the Lucian Blaga University of Sibiu, Romania, the contributing chapters consider new business models, theories, practices and instruments from advanced and emerging economies in the context of recent global trends. After over 20 years of increasing openness and liberation of the world economy, recent events in regions such as Europe, USA and Asia have created challenges to the idea of globalization and integration. There is a delay between the real-world economic changes and the reflection of such changes in the economic research literature. The 2017 IECS conference and the enclosed papers aim to fill this gap in the study of globalization, covering diverse topics such as business administration, sustainability, corporate social responsibility, finance, accounting, tourism and business informatics.

The General Agreement on Trade in Services (GATS) was created to extend the multilateral trading system to the service sector, in the same way the General Agreement on Tariffs and Trade provides for merchandise trade. Little is said in the GATS about subsidies beyond stipulating that a subsidy to a service provider or industry must be in accordance with the most-favored nation and national-treatment principles. This timely book provides a comprehensive analysis of services subsidies under the GATS. It begins with a description of services and trade in services and of the salient characteristics that make regulation of services subsidies more complex than those associated with agricultural and industrial goods. It then analyzes the economic arguments underpinning the need for regulation, as well as the need for governments to retain sufficient latitude to implement non-trade related policy measures. A description of the data on services subsidies is followed by a classification of services subsidies according to their distortive effects and by a detailed analysis of those elements that may form a definition of services subsidies for the purpose of a future regulatory framework. A key section is devoted to the analysis of those existing provisions of the GATS that may exert a certain measure of discipline on services subsidies and to the question of the desirability and technical feasibility of countervailing measures. Rules on services subsidies contained in regional trade agreements are also discussed. Finally, and prior to the conclusion, two sectoral studies deal with the question of subsidies aimed at attracting foreign direct investment and subsidies to the audiovisual sector. This work represents the first extensive and comprehensive analysis of the issue of services subsidies in the context of the GATS and includes numerous references to relevant European Union State Aid legislation and jurisprudence.

In recent years much has been made of the sucess of developing countries, particularly in East Asia, which have achieved economic growth by manufacturing goods which are then exported to developing economies.
"Manufacturing for Export in the Developing" "World" looks at a number of countries which have tried to affect a similar transition. It combines case studies of five countries with an introduction that considers the overall contact and conclusions. The book uncovers serious potential difficulties in maintaining the pace of manufacturing for export in the developing countries, and shows that there is no simple relationship between import liberalization and manufacturing for export.

The most severe frost of the twentieth century ravaged Brazilian coffee-growing areas in 1975--leading to a worldwide increase in coffee prices of more than 400 percent. This unique volume traces the political and economic effects of the frost from U.S. consumers to the world coffee market. By concentrating on a single commodity example, concepts of dependence and interdependence are exemplified and integrated--facilitating student understanding of the workings of international political economy.

A Basic Guide to International Business Law is an introduction to those parts of European and international law that are relevant to business. Having read this book, students will come away with a broad understanding of the international rules of law within the EEC, institutional rules of the European Union, international contract law, rules of competition and the four freedoms within the EEC. The edition includes student friendly features, such as summaries of statements and references to relevant case law, making the book an ideal introduction for those on law and/or business programmes.

The 2014 edition reviews recent trends in the world economy, examining the consistency and sustainability of the economic policies currently followed. It addresses the evolution and current conditions of the policy space needed for implementing growth-enhancing and inclusive development strategies. It discusses how countries can better manage capital flows in order to expand their policy space for pursuing development strategies. It looks at policy space as depending not only on the existing rules and commitments taken in international agreements, but also on the possibility of mobilizing resources for financing industrial policies, investment and growth. It argues that fiscal space is a key aspect of policy space, and that developing countries need to address loss of revenue stemming from illicit financial flows, tax havens and inadequate taxation of extractive industries.

Economics and Politics of Trade Policy brings together a set of 16 papers that focus primarily on the political economy of international trade. What sets these papers apart is the recurrent theme of developing and extending political economic analysis beyond details commonly considered when the papers were written. The book takes a deeper look at institutional and behavioral details that researchers have formerly overlooked, delving into issues such as administered rather than legislated protection; incorporation of unemployment; and behavioral considerations such as fairness. Together with a few other papers that consider theoretic issues of trade, this book will provide a thought-provoking overview of the most important research on international trade, political economy and policy over the past decades.

Over the past twenty years there has emerged a compelling new discourse on varieties of capitalism. That discourse has an appealing common sense which challenges the view there is no alternative to free market capitalism. The initial view had a microeconomic focus that made firms the fulcrum of analysis. It distinguished between liberal market and coordinated market economies. Subsequently, there has emerged a second-generation literature which adopts a macroeconomic perspective that emphasizes differences in drivers of growth. This book provides a collection of essays that engage those second-generation concerns and questions. The new view emphasizes income distribution, which leads to a focus on institutional structures that are shaped by policy and power. A related feature is an emphasis on politics, which is the process by which policies are made. Furthermore, it asks whether economies should be understood as the product of national choices versus global capitalist system forces. That connects with the long-standing center-periphery distinction in development economics. Economists, researchers, and students will find this volume an enlightening look at an important subject.

Internalization theory, despite criticism of its empirical deficiency, has dominated the industrial organization approach to the multinational enterprise and its foreign direct investment (FDI) decisions. Liu improves the empirical foundations of internalization theory, through the elaboration of the FDI signaling framework, which holds that a firm's direct foreign investment influences the perceptions of less-informed market participants. The signaling concept is derived from the premise that a firm's intangible assets in know-how cannot be correctly priced in a market with asymmetric information, and this motivates the firm's decision to undertake FDI. If the premise is correct, the firm's decision is based on inside information, and the firm's action reveals that information to the market. The firm's FDI internalization is evidence of management's confidence in its intangible assets, and its action may further influence market perceptions. The hypotheses generated along this line of analysis are subjected to investigation, and the evidence supports the FDI signaling proposition. Moreover, the study represents an indirect test of internalization theory. As a result, internalization is transformed from a untested theory to an empirical result.

This book brings together a good mix of academics and practitioners for a discussion that focuses on how to change financial practice and the academic field of finance in order to understand the current financial crisis and deal with future turbulent financial times. The volume is based on contributions by prominent academics and practitioners from Europe, Asia and the USA. The book contains several essays, most prominently by Maurizio Murgia, an internationally renowned European corporate finance scholar, and Robert E. Krainer, a senior professor with banking and business cycles research interest from University of Wisconsin-Madison. This book also deals with pedagogical, empirical and theoretical considerations in light of the crisis.

The rapid development of Asian countries has met with mixed reactions among economists. Most economists understand that a genuine development is underway; but, since the process has been a complex one, each has been able to apply favorite explanations to the situation. In Eastern Asia, regional interdependence has been important to developing countries. This work discusses the interaction between the regional economies through trade and foreign direct investment, relating interaction to economic growth and development.

Recent transatlantic relations have been plagued by a seemingly endless series of disputes over trade and other economic and political interests. Some of these disputes have been amongst the most prominent of the WTO era: the Bananas Case, the Beef Hormones Case and the furore over the Helms-Burton Act. This book analyses the sources of transatlantic disputes, and the means employed to prevent and settle such disputes both bilaterally and through the multilateral dispute settlement mechanism of the of the WTO, and identifies promising areas for reform.

In the evolving environment of global financial markets, governments, corporations, individual investors, and their associated financial institutions must grapple with a host of thorny issues that affect emerging economies with particular force, as we saw during the Asian financial crisis of the late 1990s. Among the issues analyzed by some of the top financial scholars from around the world are covered arbitrage possibilities in the absense of hedging instruments; the effect of capital controls on capital flows; the potential impact of currency unification, as well as the possibilities for pegging currency in the context of floating foreign exchange regimes; regulatory reforms; and political risk analysis.

This textbook offers a comprehensive analysis of traditional and newly emerging challenges affecting international logistics management from practical, theoretical and policy perspectives. Principles of International Logistics provides an in-depth exploration of the role of intermodal transportation, and the policy-oriented issues of market liberalization, regulatory policies, quality of institutions and supply chain orientation. Key Features: Detailed discussion of the role of the different modes of transport including air, land and maritime transportation Evaluation of international logistics and its economic significance, giving students a strong understanding of the basic principles of logistics Practically-oriented examples and cases drawn from developed and developing countries in Asia, Europe, South America and Africa to allow students to apply their knowledge in practice Coverage of new and emerging international issues such as new technologies and their application to logistics, placing traditional logistics concepts into modern context Principles of International Logistics will be an essential text for undergraduate students of international logistics, logistics management and global supply chains, and an excellent supplementary text for those studying operations and supply chain management more broadly.

Today's banking systems, from the prosperous American economy to muddled Europe and wobbly Japan, may not be in as good shape as is generally assumed. Although, for instance, large financial institutions face the challenges of the new Euro with confidence, small and mid-sized banks are not as well prepared to deal with the world's changing financial scene. While most banks' profits continue to come from lending, many have become exposed to lesser borrowers, and others have entered businesses, such as asset management and trading, that could become less attractive. Given the pressure on banks to earn more profits and the extra risks they have taken, it behooves us to revisit the key issues in banking. This book casts the ongoing changes in money and banking into perspective. The issues discussed are long standing. Some have antecedents in the distant past, others are more recent. The book opens with a brief discussion of what money is, including the monetarist, Austrian, and Keynesian views, and of differing views on the role of supply and demand. It then considers the early and later years of central banking in the U.S. and abroad, moving on to the role of bureaucracy and monetary policy. The volume then considers contemporary commercial banking, the changing nature of banking today, and the Euro and the dollar. Written in nontechnical language, the book will be useful to the specialist and interested layman alike.

Published annually, this 31st edition brings together a unique combination of the latest data on, and detailed analysis of, a vast region. Scrupulously updated by Europa's experienced editors, the volume also includes contributions from regional specialists. General Survey Essays written by acknowledged experts on the area provide an impartial overview of the region. Country surveys Individual chapters on each country, comprising: - essays on the geography, recent history and economy of each country - a statistical survey - a full directory section - a select bibliography. Regional Information A directory of research institutes and bibliographies of books and journals covering Latin America and the Caribbean.

Changes within the travel industry, such as globalization, consumerism, and advancements in technology, have transformed travel agencies into highly competitive businesses. To remain successful, new business approaches and models must be created in the global tourism and hospitality industry. Travel companies continue to expand their businesses in different countries and seek to collaborate with international entrepreneurs, developing the need for cross-cultural strategies and policies. As travel agencies flourish, identifying these business practices is necessary for these organizations to obtain a competitive management model at the global level. The Handbook of Research on International Travel Agency and Tour Operation Management gathers the latest methodologies, tools, models, and theories regarding tourism development and sustainability into one comprehensive reference source in order to promote, manage, and maximize the profitability potential of travel agencies and tour operation services. Featuring research on topics such as e-marketing, medical tourism, and online travel, this book provides travel agents, managers, industry professionals, researchers, academics, and students with the necessary resources to effectively develop and implement organizational strategies and models.

Multinationals are increasingly taking internationalised approaches to the ways in which they generate new knowledge and develop innovative new products from it in the pursuit of global competitiveness. These new perspectives in MNEs' technological behaviour open up important additional possibilities for those countries that play host to operations of these companies. This book analyses in detail the new dimensions in MNEs' approach to global competitiveness and the role played in this by overseas R & D units, and discusses the implications of this for host countries' growth and welfare.

Economic and Monetary Union (EMU) will have far-reaching consequences for participating nations. This book contains a unique and editorially neutral collection of key arguments favouring and opposing membership. The economic and policy implications are evaluated by distinguished economists, whilst the impact upon national sovereignty and the world of work is debated by prominent MPs and representatives of business and trade union organisations. The text provides an unbiased, comprehensive and 'readable' resource for specialist students and a general readership.

This volume brings together business, government and academic representatives from the United States, Pacific and Asian nations to address issues of regional economic cooperation in the Pacific Basin. The contributors focus particularly on cooperation in five areas: development, commodities, technology, human resources, and issues and directions. Their papers explore both the broad questions of cooperation in regional economic development and more practical concerns such as appropriate technology, political constraints, and foreign aid. Invaluable supplemental reading for courses in economic development and comparative economics, "Pacific Cooperation and Development" provides important new insights into the dynamics of economic development in an increasingly critical global market.

Advances in International Accounting is a referred, academic research annual, that is devoted to publishing articles about advancements in the development of accounting and its related disciplines from an international perspective. This serial examines how these developments affect the financial reporting and disclosure practices, taxation, management accounting practices, and auditing of multinational corporations, as well as their effect on the education of professional accountants worldwide. Advances in International Accounting welcomes traditional and alternative approaches, including theoretical research, empirical research, applied research, and cross-cultural studies.