This book is concerned with various aspects of global economies. Economists from the Universities of Freiburg i. Br. and Nagoya/Japan had met in a joint seminar to discuss these problems. Their analysis concentrated on current trends in Europe and in Asia with special emphasis on Japan. The first part of the extended and updated seminar contributions stresses the importance of foreign direct investment in the process of globalization. The second part deals with the deficiencies and required adjustments of financial institutions. The last part of the book explores international issues on the level of business policy, including the development of global competition, of environmental policies and of world-wide integration of information and communication technologies. The objective of the joint seminar, as reflected in this book, is the mutual understanding of economic problems that emerge with the interplay of globalization and national interests.

The increasingly integrated global economy presents both opportunities and challenges to national and international policymakers. Global economic integration is widely thought to improve the allocation of resources, promote technological transfer, and enhance living standards. But, at the same time, economic integration has frequently been associated with growing trade imbalances, increased financial market volatility, and less effective domestic macroeconomic policies.To identify domestic and international policies that will help nations around the world achieve the greatest net benefits from global integration, the Federal Reserve Bank of Kansas City sponsored a symposium, titled "Global Economic Integration: Opportunities and Challenges," at Jackson Hole, Wyoming, on August 24-26, 2000. The symposium brought together a distinguished group of central bankers, academics, and financial market representatives to discuss these issues.

International economic integration has played a significant part in economic policy decisions for most countries and regions throughout the world over decades. This text looks at why the success of integration schemes has been so variable and what the prospects are for integration in the future.

ÔThe emergence of the BRICs and of China in particular has played an important if underappreciated role to the competitive difficulties of Greece, Portugal and other Southern European countries. The contributors to this volume warn that similar challenges now confront the economies of Eastern and South-Eastern Europe, many of which compete head to head with China in international markets. More reassuringly, the authors also specify an agenda for structural adjustment, product upgrading and deeper integration with Western Europe that offers hope for meeting the China challenge.Õ Ð Barry Eichengreen, University of California, Berkeley, US This important book discusses European integration in a global economic setting, investigating the impact of China and Russia as emerging global players in the catching-up process in Central, Eastern and South-Eastern Europe. The expert contributors focus on global imbalances and accompanying policy challenges, competitiveness and trade, the sustainability of current growth strategies, and banking and financial stability in the light of the global economic and financial crisis. They provide a multi-disciplinary assessment, combining the views of high-ranking central bankers, policymakers, commercial bankers and academics, and demonstrate that a broad view of European economic integration is crucial given that spillovers and contagion were major issues of the recent economic crisis. This book will prove an illuminating read for academics, researchers, students and policymakers with an interest in international economics, money, finance and banking and European studies.

1st edition sold very well - this one = fully updated 1st edition widely accepted as standard work on international economic integration International economic integration continues to be key issue covered by a number of courses, esp. international EC Jovanovic very well-known and respected figure

At 15.4 percent of the population, Latinos are the largest minority group in the United States. They are a growing presence in all sectors of the economy, play an increasingly important role in government and politics, and are influential across a wide range of cultural domains. Despite the growing attention paid to Latinos in recent years, this population is characterized by relatively low socio-economic status, and Latinos frequently rank behind the majority white population and other minority groups when it comes to education, finances, and employment. This book contributes to the understanding of these issues by addressing a comprehensive range of topics on Latino economic incorporation, outcomes, and impact over an individual's lifetime. The volume starts with the foundational issue of education, and then moves to immigrant integration and adjustment, Latino and immigrant earnings, the economic impact of Latinos, and inter-generational incorporation and long-term integration issues. The contributions provide wide-ranging perspectives on the key factors that determine whether Latinos will be able to achieve their economic potential. The substantial individual, national, and international implications of these studies make this book of interest to scholars and policy-makers alike, particularly those concerned with the issues of education, immigration, employment, and earnings. The rapid and continuing growth of the Hispanic population ensures that the debate over social policy in the next few decades will increasingly focus on how best to alleviate the economic and social problems facing this population and perhaps encourage rapid assimilation. The studies in the volume edited by David Leal and Stephen Trejo provide an excellent foundation for this discussion. The conceptual issues and findings in these papers are sure to be valuable to both policy makers and researchers. George Borjas, Robert W. Scrivner Professor of Economics and Social Policy, John F. Kennedy School of Government, Harvard University Latinos and the Economy provides a truly authoritative but accessible compilation of first-rate scholarship on Hispanic incorporation, educational and political gains, and ongoing economic and cultural impacts. It is "must reading" for anyone concerned about the future, especially as America moves inexorably towards becoming a majority-minority society by mid-century. Daniel T. Lichter, Ferris Family Professor, Department of Policy Analysis and Management, Cornell University This is the volume to read for anyone interested in current American immigration issues or the role of Hispanics in the U.S. economy." Daniel S. Hamermesh, Killam Professor of Economics, University of Texas at Austin "The future of America is closely intertwined with the successful integration--economically, politically, and socially--of the Latino population. Latinos now comprise one of every seven workers and almost one of every five students in the United States. The research reported in this volume describes the challenges faced by Latinos in schools, the labor market, and in communities and explains their prospects for upward mobility. These studies suggest that a significant investment in expanding educational opportunities may be the single most important policy lever to incorporate Latinos into the American mainstream." Charles Hirschman, Professor of Public Affairs and Boeing International Professor of Sociology, University of Washington

Although the rest of the world had waited a long time for China to open up, feelings were mixed when it actually did and began to integrate rapidly with the world economy. With the country’s recent accession to the World Trade Organization (WTO), many of its trading partners are increasingly concerned that China’s competition in the world goods and capital markets may adversely affect their own growth prospects. This paper examines the implications of China’s WTO accession for other developing countries in the context of the country’s long-term process of growth and opening up. The paper argues that China’s integration into the world economy will inevitably impose adjustment costs on its trading partners in the short-to-medium term, but the benefits it generates are likely to dominate in the long run.

Integration into global markets can improve the efficiency of the Argentinian economy, providing opportunities for private investment to flourish and for the associated benefits to accrue to consumers. Among many policies that are important for integrating into the global economy, particularly relevant are trade, investment, and competition policies. They all share a common attribute: the capacity to shape the incentives of firms to improve resource allocation and to strengthen productivity while integrating into international markets. Once properly combined, investment, trade, and competition polices have mutually reinforcing relationships in the sense that growth dividends stemming from reforms in one policy area are reinforced when properly combined with reforms in the other two. Against this backdrop, this report follows a three-pronged approach. It presents a set of robust empirical analyses †“ drawing from both general and partial equilibrium exercises - to assess the potential impacts from trade, competition, and investment policy reforms. It offers a new comparative review of international experience with structural microeconomic reform programs to bring insights for Argentina’s design and sequencing of such reforms. Finally, it presents individual reform recommendations for each institution in charge of the three respective policy areas in an integrated step-by-step framework from the firm perspective to illustrate the critical challenges to investment and internationalization for Argentinian firms.

This volume is a collection of papers that apply general equilibrium theory in order to obtain policy relevant insights on topical issues of international trade and migration. The first set of papers focuses on European integration, applying dynamic numerical general equilibrium methods to quantify the effects of geographic extension of the European Union, including the effects of Eastern enlargement of the EU on incumbent Western member countries. The second set of papers deals with the trade effects of WTO membership, with special focus on the so-called extensive country margin, where new international trading relationships are formed. The third set of papers focuses on immigration, offering a rigorous theoretical analysis of the so-called immigration surplus as well as an econometric estimation of the gains and pain that Germany has forgone by initially restricting immigration from new EU member countries after the EU''s Eastern enlargement in 2004. And finally, the book contains a set of theoretical papers on the distributional effects of offshoring. Contents: Introduction; Modeling EU-Type Economic Integration: Eastern Enlargement of the EU: Eastern Enlargement of the EU: Jobs, Investment and Welfare in Present Member Countries (Ben J Heijdra, Christian Keuschnigg and Wilhelm Kohler); Eastern Enlargement of the EU: A Comprehensive Welfare Assessment (Wilhelm Kohler); The Role of Distance and WTO Membership for Trade: Exploring the Intensive and Extensive Margins of World Trade (Gabriel J Felbermayr and Wilhelm Kohler); WTO Membership and the Extensive Margin of World Trade: New Evidence (Gabriel J Felbermayr and Wilhelm Kohler); Offshoring: A New Form of Trade, Conventional Mechanisms?: The Distributional Effects of International Fragmentation (Wilhelm Kohler); Aspects of International Fragmentation (Wilhelm Kohler); International Outsourcing and Factor Prices with Multistage Production (Wilhelm Kohler); The Bazaar Effect, Unbundling of Comparative Advantage, and Migration (Wilhelm Kohler); International Migration: Gains and Pains?: Immigration and Native Welfare (Gabriel J Felbermayr and Wilhelm Kohler); Can International Migration Ever Be Made a Pareto Improvement? (Gabriel Felbermayr and Wilhelm Kohler); Restrictive Immigration Policy in Germany: Pains and Gains Foregone? (Gabriel Felbermayr, Wido Geis and Wilhelm Kohler). Readership: Postgraduate students and researchers in the field of international economics.