The deterioration in the economic performance of the advanced
industrial democracies during the 1970s provoked an intense debate
about the role of government in economic adjustment and growth. In
Governments, Markets, and Growth, John Zysman makes a significant
contribution to our understanding of these critical international
issues by demonstrating that there is a direct relationship between
a nation's financial system and its government's ability to restart
the growth engine.
Professor Zysman argues that there are three distinct types of
financial systems, each with different consequences for the
political ties between financial markets, industry, and government.
Zysman tests his argument by analyzing and comparing the patterns
of industrial adjustment in five advanced nations. He contrasts the
differing strategies of industrial adjustments primarily in France
and Great Britain, but also in Japan, West Germany, and the United
States. Governments, Markets, and Growth will be invaluable to the
international banking and business community, a wide variety of
government officials, and students of political science, economics,
and business administration.
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