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This edition has been updated to reflect an equal balance between
trade and finance. Treatment of strategic trade theory and open
economy macroeconomics has been updated to make this work
appropriate for all courses in trade theory, finance and
international economic policy.
Transatlantic economic relations are dominated by three factors
which are of major historical significance. The first and most
important is the multilateral process for trade liberalisation,
deregulation of financial markets, and macroeconomic policy
co-ordination. The second factor is a transatlantic environment of
national and regional idiosyncrasies exemplified by protectionist
initiatives, a significant weakening of the EMS, and changes in
central bank statutes. The second factor is in part a political
backlash against the first. The third factor affecting
transatlantic economic relations is of course the emergence of
regional economic relationships within the transatlantic economy,
and a treaty calling for a common currency in Europe. In this 1996
volume, specialists in international trade, international finance,
and political economy analyse the causes of these three factors,
and their implications.
Transatlantic economic relations are dominated by three factors
which are of major historical significance. The first and most
important is the multilateral process for trade liberalisation,
deregulation of financial markets, and macroeconomic policy
co-ordination. The second factor is a transatlantic environment of
national and regional idiosyncrasies exemplified by protectionist
initiatives, a significant weakening of the EMS, and changes in
central bank statutes. The second factor is in part a political
backlash against the first. The third factor affecting
transatlantic economic relations is of course the emergence of
regional economic relationships within the transatlantic economy,
and a treaty calling for a common currency in Europe. In this 1996
volume, specialists in international trade, international finance,
and political economy analyse the causes of these three factors,
and their implications.
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