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At the end of 1991, the Fondazione Eni Enrico Mattei hosted the Integration Symposium of the Confederation of European Associations of Economists on "Europe between East and South". This volume brings together the selected and edited proceedings of the conference. The focus of the book is the transformation of the formerly planned economies in Eastern and Central Europe from an international perspective. The opening up of the Eastern bloc adds a new and extremely challenging dimension to the relationship between the more and the less developed economies. Almost all developing countries implemented liberalisation policies throughout the Eighties, thereby dramatically increasing the market ori...
Stabilization and Privatization: An Economic Evaluation of the Shock Therapy Program is the first comprehensive account of Poland's economic transition since mid-1989. Monetary stabilization, trade liberalization (including convertibility) and privatization of state capital assets are discussed. Sources of economic recession which have accompanied the post-1989 transition are analyzed. The role of demand-side factors (i.e. monetary contraction) is weighed against that of supply-side factors (i.e. credit availability). The prevailing view is that the recession has been supply-type rather than demand-type. Economic performance has been impacted by the lack of a proper institutional framework (...
The disappearance of central planned economies left politicians, researchers, consultants, and academics with an interest in economies in transition in vagueness about the actual state of the economy and its short and medium term prospects. This volume provides the reader with information on how to deal with the statistical shortcomings of economies in transition. Most economic variables published for these countries tend to encompass a short period of time or they possess a low measurement quality. Moreover, most of the series are subject to structural breaks, due to the change in the patterns of economic reactions over time. The contributions in this volume show various ways to solve or at least to lessen the before mentioned problems.
This book studies the determinants of cluster survival by analyzing their adaptability to change in the economic environment. Linking theoretic knowledge with empirical observations, a simulation model (based in the N/K method) is developed, which explains when and why the cluster's architecture assists or hampers adaptability. It is found that architectures with intermediate degrees of division of labor and more collective governance forms foster adaptability.
In this book, locational preferences of firms in The Netherlands and Germany are studied from a behavioural point of view. Stated preferences of entrepreneurs in each country are examined, using various types of statistical analysis. The influence of both firm and place characteristics is analysed. Special attention is given to the relation between distance and rating. Other topics mentioned are changes in the rating patterns in time, the relation of locational preferences with other types of spatial preferences and with locational behaviour. The results of the analyses may be regarded as relevant to behavioural theory as well as to the practice of government policies.
The present book describes the methodology to set up agent-based models and to study emerging patterns in complex adaptive systems resulting from multi-agent interaction. It offers the application of agent-based models in demography, social and economic sciences and environmental sciences. Examples include population dynamics, evolution of social norms, communication structures, patterns in eco-systems and socio-biology, natural resource management, spread of diseases and development processes. It presents and combines different approaches how to implement agent-based computational models and tools in an integrative manner that can be extended to other cases.
Strategic delegation is a widespread phenomenon in economic and social systems. In many situations the main interested party benefits from appointing a delegate to take action that the principal - were he playing - could not credibly take. This book contributes to the literature studying such a phenomenon, by extending the analysis of its implications for firms' strategy in product markets, by investigating how it may affect the trade union's activity, by studying its dynamic influence on the evolution of strategic interactions that the delegating party is involved in. The welfare effects of strategic delegation turn out to be uncertain and crucially depend on the features of the situation considered, both in static and in dynamic frameworks.
The introduction of a single European currency constitutes a remarkable instance of internationalization of monetary policy. Whether a concomitant internationalization can be detected also in the econometric foundations of monetary policy is the topic dealt with in this book. The basic theoretical ingredients comprise a data-driven approach to econometric modelling and a generalized approach to cross-sectional aggregation. The empirical result is a data-consistent structural money demand function isolated within a properly identified, dynamic macroeconomic system for Europe. The book itself evolved from a research project within the former Son derforschungsbereich SFB 178 "Internationalizati...
Innovation is the motor of economic change. Over the last fifteen years, researches in innovation processes have emphasised the systemic features of innovation. Whilst innovation system analysis traditionally takes a static institutional approach, cluster analysis focuses on interaction and the dynamics of technology and innovation. First, the volume gives an overview of the different levels of analysis from which the innovation behaviour of firms has been observed in the past. The book then presents a distinct cluster approach as a useful and innovative tool to analyse the configuration and dynamics of networks of actors involved in innovative processes. This approach emphasises the possibilities of enhancing cluster benefits by introducing virtual links between cluster actors. Empirical evidence is provided for the automotive components and the telecommunication industries. By restricting the discussion to Germany and Italy, the authors are able to explore the role that national innovation systems play as a framework in which clusters operate.
Financial Markets play an important role in economic development, channeling saving to investments and facilitating growth. In Eastern Europe financial markets were initially much underdeveloped, and lacked the skills and infrastructure they needed to be efficient, having not acquired them in the pre-transition era. The book offers a both theoretical and empirical analysis of financial markets in transitional economies. It investigates financial markets in Hungary, the Czech Republic, and Poland, and their role in the developments in the 1990s.