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Economic Transformation in Emerging Countries: The Role of Investment, Trade and Finance

Product Details
11 Aug 1998
Emerald Group Publishing Limited
404 pages - 156 x 234 x 23mm
Series in International Business and Economics


This book deals with one of the great dramas of our day, the transformation of countries from economic backwardness, or a socialist somnolence, into greater efficiency and participation in the invigorating currents of international trade and investment. This book is about building market institutions and about the struggle to shed institutional baggage of the past. It is about new 'openings'. It is about liberalization of economic policies, about relaxing controls, and welcoming the influx of foreign capital and goods. Above all, the underlying theme of this book is the search for appropriate government policies, on issues vital to emerging nations (defined here as developing nations and former communist bloc countries), such as exchange rate management, acquisition of technology, privatization, capital flows, trade and direct investment.
Chapter headings and selected papers: Preface. A review of critical issues in the transformation of emerging countries (F.J. Contractor). Part I: Trade Policies. Have trade policy reforms led to greater openness in developing countries? Evidence from trade data (J. Nash, S. Andriamananjara). The interrelationships between imports and exports of manufacturing industries of small open economies: the case of the Hong Kong garment industry (To-Ming Ho). Part II: Foreign Direct Investment Determinants. The trade-investment nexus (M.E. Kreinin et al.). Direct foreign investment, economic cycles and Mexican wage policy (J.B. Anderson). Part III: Capital Markets. International financial integration, interest rates, and country risk (A.J. Makin). Financial liberalization, financial deepening and efficiency implications in the emerging markets: preliminary evidence from Turkey (C. Bulent Aybar). The day-of-the-week and the weekend effect in the Thai stock market (M. Raj, P. Dheeriya). Part IV: Exchange Markets in Emerging Nations. Predicting devaluation (A. Alford, G. Finaczy). The Mexican economy in the 1990's: boom or bust? (R.C. Shelburne). Impact of the Mexican peso crisis on Argentina (J.A. Adams JR.). Part V: Labor Markets. International wage inequality and convergence: the impact of transnational corporations (P. Koudal). Labor market institutions and social welfare in transitional economies (A. Fourcans, R. Vranceanu). Part VI: Privatization. Survival value of Russian banks: to what degree are they market oriented? (T. Thoman). Polish mass privatization: an economic goal thwarted by political contingencies (L.V. Ryan). Part VII: Technology Acquisition by Emerging Nations. Technology acquisition policies in emerging countries (F.J. Contractor). Institutional barriers to technological transfer and diffusion: managerial perceptions (P.D. Perez). Author index. Subject index.

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