The Institutional Economics of the International Economy

The Institutional Economics of the International Economy

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This book is the outgrowth of the editors' conviction that there is a need for a current and comprehensive examination of international economic issues within the framework of institutional economics. The volume covers the most important international topics that institutional economists historically have addressed. We hope that our initiative and necessarily limited choice of subjects will encourage additional applications of institutional economic theory to the international economy. For other economists, the analyses contained in the volume's dozen chapters afford an opportunity to become more aware of the theoretical work and policy recommendations of institutional economists. It may be surprising that, to an extent, evolutionary and neoclassical thinking converge and even sometimes overlap on the matter of trends and problems of the international economy. A case in point is the increased attention both schools devote to the role of technology in shaping patterns of world trade and specialization. In the past few decades, global shifts in comparative advantages, the widespread adoption of more flexible exchange- rate systems, and the remarkable shifts in institutional arrangements and policy regimes in the former Soviet Union and East Asia have compelled a reassessment of conventional static trade theories based on neoclassical assumptions. Links among trade, international investment, and the diffusion of economic growth are being more closely scrutinized and better understood. This volume is an effort to expand and stimulate this discourse on the economics of international relations, including global economic development.
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Product details

  • Hardback | 255 pages
  • 165.1 x 241.3 x 22.9mm | 476.28g
  • Dordrecht, Netherlands
  • English
  • 1996 ed.
  • XX, 255 p.
  • 0792397258
  • 9780792397250

Table of contents

Figures. Tables. Preface. Introduction; J. Adams, A. Scaperlanda. I: Theoretical Foundations of International Economic Relations. 1. International Economic Affairs as Viewed from a Veblen-Ayres Perspective; H.E. Jensen. 2. Foreign Investment, Economic Growth, and Theories of Value: Evidence from Economic History; A. Mayhew. 3. Theory and Praxis of the Emerging Global Economy; M.D. Lower. II: International Trade and Foreign Investment. 4. Institutional Coordination, Transactions Costs, and World Trade; J. Adams. 5. Trade and the Role of Cities: What Does Institutionalism Have to Offer Us? P.K. Kresl. 6. Multinational Enterprise Expansion from an Institutionalist Perspective; A. Scaperlanda. III: Labor, Resources, and Technology in the International Economy. 7. Technology Transfer, Economic Development, and the Perpetuation of Poverty: Resource Creation Versus Frugality; T.R. DeGregori. 8. Technology and Third-World Development: A Twenty- to Thirty-Year Retrospective; D.D. James. 9. Labor Migration and Urban Employment in Developing Countries: The Impact of Population Growth and Property Institutions; W.E. Cole. IV: Institutional Change in the International Economy. 10. Institutional Adjustment and Economic Development: Insights from the Etiology of Privatization; W.P. Glade. 11. Institutional Reform of the International Monetary Regime; A. Scaperlanda. 12. A World of Nations and the United Nations; W.C. Gordon. Epilogue: The Influences of Wendell C. Gordon; J. Adams. Index.
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Review quote

`All in all, I highly recommend the book. ... much can be learned from the chapters, and one or more may well spark an interest in a field that the reader never before considered. I know that was the case with me.'
Journal of Economic Issues, XXXII (1998)
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