W. Max Corden
- Published in print:
- 1997
- Published Online:
- November 2003
- ISBN:
- 9780198775348
- eISBN:
- 9780191715471
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198775342.003.0008
- Subject:
- Economics and Finance, International
Presents a comprehensive exposition of various possible bases for an infant industry argument for protection. It distinguishes dynamic internal economies and dynamic external economies and, in the ...
More
Presents a comprehensive exposition of various possible bases for an infant industry argument for protection. It distinguishes dynamic internal economies and dynamic external economies and, in the latter case, reciprocal external economies, and externalities resulting from labour training, knowledge diffusion, and atmosphere creation. It shows that static economies of scale have a doubtful role in justifying an infant industry argument.Less
Presents a comprehensive exposition of various possible bases for an infant industry argument for protection. It distinguishes dynamic internal economies and dynamic external economies and, in the latter case, reciprocal external economies, and externalities resulting from labour training, knowledge diffusion, and atmosphere creation. It shows that static economies of scale have a doubtful role in justifying an infant industry argument.
Richard Roberts
- Published in print:
- 2005
- Published Online:
- September 2007
- ISBN:
- 9780199269495
- eISBN:
- 9780191710162
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199269495.003.0014
- Subject:
- Business and Management, Finance, Accounting, and Banking
The prosperity of the international financial services industry in the 1980s and 1990s stimulated other financial centres to try to boost, or just retain, their share of activity. Challenges were ...
More
The prosperity of the international financial services industry in the 1980s and 1990s stimulated other financial centres to try to boost, or just retain, their share of activity. Challenges were mounted by Frankfurt and Paris, taking advantage of the opportunity offered by the UK's non-participation in the launch of the European single currency. There were also internal challenges that threatened to erode the City's competitive standing, notably congested local transport, creeping taxation, and increasingly bureaucratic regulation. This chapter considers the seriousness of these challenges and the City's outlook for the 21st century.Less
The prosperity of the international financial services industry in the 1980s and 1990s stimulated other financial centres to try to boost, or just retain, their share of activity. Challenges were mounted by Frankfurt and Paris, taking advantage of the opportunity offered by the UK's non-participation in the launch of the European single currency. There were also internal challenges that threatened to erode the City's competitive standing, notably congested local transport, creeping taxation, and increasingly bureaucratic regulation. This chapter considers the seriousness of these challenges and the City's outlook for the 21st century.
Roger Undy
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780199544943
- eISBN:
- 9780191719936
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199544943.003.0008
- Subject:
- Business and Management, HRM / IR
Dominant‐partner amalgamations are briefly discussed before focusing on balanced‐partner amalgamations. The outcomes of dominant‐partner amalgamations are similar to those generated by transfers. In ...
More
Dominant‐partner amalgamations are briefly discussed before focusing on balanced‐partner amalgamations. The outcomes of dominant‐partner amalgamations are similar to those generated by transfers. In contrast, balanced‐partner amalgamations generally have a more marked effect on both the new unions' external relations with employers and its internal organization. However, the context may limit the amalgamated unions' abilities to exercise any increase gained in latent collective bargaining power. Internally, the balanced‐partner amalgamations vary considerably in their reforming effects: some have positive outcomes, while others generate unintended and politically destabilizing consequences.Less
Dominant‐partner amalgamations are briefly discussed before focusing on balanced‐partner amalgamations. The outcomes of dominant‐partner amalgamations are similar to those generated by transfers. In contrast, balanced‐partner amalgamations generally have a more marked effect on both the new unions' external relations with employers and its internal organization. However, the context may limit the amalgamated unions' abilities to exercise any increase gained in latent collective bargaining power. Internally, the balanced‐partner amalgamations vary considerably in their reforming effects: some have positive outcomes, while others generate unintended and politically destabilizing consequences.
Stephen D. Cohen
- Published in print:
- 2007
- Published Online:
- May 2007
- ISBN:
- 9780195179354
- eISBN:
- 9780199783779
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195179354.003.0007
- Subject:
- Economics and Finance, International
The seemingly simple explanation of why a company invests overseas — to seek greater profits — is inadequate to provide satisfactory insight into the multiple rationales for establishing foreign ...
More
The seemingly simple explanation of why a company invests overseas — to seek greater profits — is inadequate to provide satisfactory insight into the multiple rationales for establishing foreign subsidiaries. The omnipresence of heterogeneity and complexity as well as the need for disaggregation reappear as underlying themes as this chapter outlines the major academic models and theories as to why companies would accept the costs and risks of seeking to operate in foreign markets with alien cultures, often in direct competition with established local competitors. The bulk of the chapter is devoted to an extensive and unique list of “real-world” business and economic reasons that have caused FDI to be attractive to a growing number of companies in a growing number of countries. The concluding section is a case study of the automobile industry, a sector that can be used to illustrate a large number of the reasons for doing business on a multinational basis as previously discussed.Less
The seemingly simple explanation of why a company invests overseas — to seek greater profits — is inadequate to provide satisfactory insight into the multiple rationales for establishing foreign subsidiaries. The omnipresence of heterogeneity and complexity as well as the need for disaggregation reappear as underlying themes as this chapter outlines the major academic models and theories as to why companies would accept the costs and risks of seeking to operate in foreign markets with alien cultures, often in direct competition with established local competitors. The bulk of the chapter is devoted to an extensive and unique list of “real-world” business and economic reasons that have caused FDI to be attractive to a growing number of companies in a growing number of countries. The concluding section is a case study of the automobile industry, a sector that can be used to illustrate a large number of the reasons for doing business on a multinational basis as previously discussed.
You‐tien Hsing
- Published in print:
- 2010
- Published Online:
- May 2010
- ISBN:
- 9780199568048
- eISBN:
- 9780191721632
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199568048.003.0009
- Subject:
- Business and Management, Political Economy
Chapter 8 broadens the scope of this book and makes programmatic connections both between the urbanized local state and China's emerging territorial order, and between civic ...
More
Chapter 8 broadens the scope of this book and makes programmatic connections both between the urbanized local state and China's emerging territorial order, and between civic territoriality and the prospects of grassroots mobilization in Chinese cities and the countryside. Both issues are at the center of the recent property crisis and rural reform in China. On the former, the author proposes that while state power is restructured through the double movement of power decentralization and reconcentration among competing local states, leading cities of metropolitan regions rise to dominate the new territorial order. On the latter, two theoretical connections can be made between civic territoriality and social activism. The first one responds to debates on the relative importance of community and class in urban social movements; the second examines rural collectivism and suggests that while much‐criticized collective land ownership persists in China, peasants' collective organization and identity have been paradoxically dismantled to a significant extent.Less
Chapter 8 broadens the scope of this book and makes programmatic connections both between the urbanized local state and China's emerging territorial order, and between civic territoriality and the prospects of grassroots mobilization in Chinese cities and the countryside. Both issues are at the center of the recent property crisis and rural reform in China. On the former, the author proposes that while state power is restructured through the double movement of power decentralization and reconcentration among competing local states, leading cities of metropolitan regions rise to dominate the new territorial order. On the latter, two theoretical connections can be made between civic territoriality and social activism. The first one responds to debates on the relative importance of community and class in urban social movements; the second examines rural collectivism and suggests that while much‐criticized collective land ownership persists in China, peasants' collective organization and identity have been paradoxically dismantled to a significant extent.
Markus Venzin
- Published in print:
- 2009
- Published Online:
- October 2011
- ISBN:
- 9780199535200
- eISBN:
- 9780191701153
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199535200.001.0001
- Subject:
- Business and Management, Finance, Accounting, and Banking, Strategy
A new era of global banking and insurance is emerging, with leading banks eager to serve international markets. This book explores the issues that arise for banks in their strategic choices as they ...
More
A new era of global banking and insurance is emerging, with leading banks eager to serve international markets. This book explores the issues that arise for banks in their strategic choices as they move into these new international markets. This book challenges conventional assumptions from the international management literature on topics such as the limits of globalization, the importance of cultural and institutional distance, the nature of economies of scale and scope, the existence of first mover advantages, the logic behind the global value chain configuration, the speed and timing of market entry, as well as organizational architecture. It focuses on fundamental strategic decisions such as when, where, and how to enter foreign markets and how to design the organizational architecture of the multinational financial services firm. Using simple theoretical frameworks illustrated by case examples, this book provides a guide to the challenges of the international market for financial services firms.Less
A new era of global banking and insurance is emerging, with leading banks eager to serve international markets. This book explores the issues that arise for banks in their strategic choices as they move into these new international markets. This book challenges conventional assumptions from the international management literature on topics such as the limits of globalization, the importance of cultural and institutional distance, the nature of economies of scale and scope, the existence of first mover advantages, the logic behind the global value chain configuration, the speed and timing of market entry, as well as organizational architecture. It focuses on fundamental strategic decisions such as when, where, and how to enter foreign markets and how to design the organizational architecture of the multinational financial services firm. Using simple theoretical frameworks illustrated by case examples, this book provides a guide to the challenges of the international market for financial services firms.
W. Max Corden
- Published in print:
- 1997
- Published Online:
- November 2003
- ISBN:
- 9780198775348
- eISBN:
- 9780191715471
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198775342.003.0007
- Subject:
- Economics and Finance, International
Analyses the effects of protection on domestic monopoly profits, allows for economies of scale, and analyses the X‐efficiency effects of protection, rent‐seeking, and various kinds of dumping.
Analyses the effects of protection on domestic monopoly profits, allows for economies of scale, and analyses the X‐efficiency effects of protection, rent‐seeking, and various kinds of dumping.
G. B. Richardson
- Published in print:
- 1997
- Published Online:
- November 2003
- ISBN:
- 9780198292432
- eISBN:
- 9780191596810
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198292430.003.0005
- Subject:
- Economics and Finance, Microeconomics
The efficiency of any system or market structure cannot be judged by the equilibrium configuration of production with which it is associated. As change is unceasing, it is necessary to consider how ...
More
The efficiency of any system or market structure cannot be judged by the equilibrium configuration of production with which it is associated. As change is unceasing, it is necessary to consider how different processes of coordination, of both competitive and complementary activities, affect the efficiency of adaptation. This chapter is concerned with how alternative modes of coordination affect the scale of the investments undertaken and, in this way, economic efficiency.Less
The efficiency of any system or market structure cannot be judged by the equilibrium configuration of production with which it is associated. As change is unceasing, it is necessary to consider how different processes of coordination, of both competitive and complementary activities, affect the efficiency of adaptation. This chapter is concerned with how alternative modes of coordination affect the scale of the investments undertaken and, in this way, economic efficiency.
Eli M. Noam
- Published in print:
- 2009
- Published Online:
- October 2011
- ISBN:
- 9780195188523
- eISBN:
- 9780199852574
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195188523.003.0002
- Subject:
- Business and Management, Information Technology
Since World War II, the information sector in the United States has been evolving through three stages: the stages of limited media, multichannel media, and digital media. In the lengthy stage of ...
More
Since World War II, the information sector in the United States has been evolving through three stages: the stages of limited media, multichannel media, and digital media. In the lengthy stage of limited media, major segments of the information sector were dominated by large firms. This stage of limited media, so different from the image of a past golden age of open media, prevailed into the early 1980s, when it changed quite rapidly, at least in the electronic realm. The third stage, that of digital media, is characterized by the emergence of computer communications as a mass medium and is exemplified by the Internet. The key to this stage is digitalization: the transformation of voice, text, video, and data information into binary on-off signals, and their move toward common platforms of transmission, storage, processing, and display. The overall trend of media concentration is the composite of three separate dynamics that overlay each other: the growth in economies of scale in information sector operations, the lowering of entry barriers, and digital convergence.Less
Since World War II, the information sector in the United States has been evolving through three stages: the stages of limited media, multichannel media, and digital media. In the lengthy stage of limited media, major segments of the information sector were dominated by large firms. This stage of limited media, so different from the image of a past golden age of open media, prevailed into the early 1980s, when it changed quite rapidly, at least in the electronic realm. The third stage, that of digital media, is characterized by the emergence of computer communications as a mass medium and is exemplified by the Internet. The key to this stage is digitalization: the transformation of voice, text, video, and data information into binary on-off signals, and their move toward common platforms of transmission, storage, processing, and display. The overall trend of media concentration is the composite of three separate dynamics that overlay each other: the growth in economies of scale in information sector operations, the lowering of entry barriers, and digital convergence.
Maurice FitzGerald Scott
- Published in print:
- 1991
- Published Online:
- November 2003
- ISBN:
- 9780198287421
- eISBN:
- 9780191596872
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198287429.003.0012
- Subject:
- Economics and Finance, Development, Growth, and Environmental
Labour productivity has grown at different rates in similar industries in different countries. Verdoorn suggested that this could be explained by faster rates of growth of output leading to economies ...
More
Labour productivity has grown at different rates in similar industries in different countries. Verdoorn suggested that this could be explained by faster rates of growth of output leading to economies of scale, but there are several other explanations, and the relation with output growth is not robust. Kaldor found that the rate of growth of total output in different countries was higher the faster was the rate of growth of manufacturing output from 1953 to 1963, and attributed this to demand factors, especially exports. However, the positive relation between the two virtually disappeared from 1970 to 1983, and can be explained ad hoc. Less
Labour productivity has grown at different rates in similar industries in different countries. Verdoorn suggested that this could be explained by faster rates of growth of output leading to economies of scale, but there are several other explanations, and the relation with output growth is not robust. Kaldor found that the rate of growth of total output in different countries was higher the faster was the rate of growth of manufacturing output from 1953 to 1963, and attributed this to demand factors, especially exports. However, the positive relation between the two virtually disappeared from 1970 to 1983, and can be explained ad hoc.
Robert A. Margo
- Published in print:
- 2015
- Published Online:
- May 2016
- ISBN:
- 9780226261621
- eISBN:
- 9780226261768
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226261768.003.0007
- Subject:
- Economics and Finance, Economic History
In a classic paper, Kenneth Sokoloff argued that the labor input of entrepreneurs was generally omitted from the count of workers in manufacturing establishments in the early US censuses of ...
More
In a classic paper, Kenneth Sokoloff argued that the labor input of entrepreneurs was generally omitted from the count of workers in manufacturing establishments in the early US censuses of manufacturing. This biased downward econometric estimates of economies of scale if left uncorrected. As a fix Sokoloff proposed a “rule of thumb” imputation for the entrepreneurial labor input. Using establishment level manufacturing data from the 1850-80 censuses and textual evidence I argue that, contrary to Sokoloff’s claim, the census did generally include the labor of entrepreneurs if it was economically relevant, so Sokoloff’s imputation is not warranted for these census years. However, like Sokoloff I find that the census understated the labor input in small relative to large establishments, but for a different reason. The census purported to collect data on the average labor input, but it most likely measures the typical number of workers present. For very small establishments the reported typical number of workers is biased downwards relative to a true average but this is not so for large establishments. Therefore, the early censuses of manufacturing overstated labor productivity in small relative to large establishments but the size of the bias is smaller than alleged by Sokoloff.Less
In a classic paper, Kenneth Sokoloff argued that the labor input of entrepreneurs was generally omitted from the count of workers in manufacturing establishments in the early US censuses of manufacturing. This biased downward econometric estimates of economies of scale if left uncorrected. As a fix Sokoloff proposed a “rule of thumb” imputation for the entrepreneurial labor input. Using establishment level manufacturing data from the 1850-80 censuses and textual evidence I argue that, contrary to Sokoloff’s claim, the census did generally include the labor of entrepreneurs if it was economically relevant, so Sokoloff’s imputation is not warranted for these census years. However, like Sokoloff I find that the census understated the labor input in small relative to large establishments, but for a different reason. The census purported to collect data on the average labor input, but it most likely measures the typical number of workers present. For very small establishments the reported typical number of workers is biased downwards relative to a true average but this is not so for large establishments. Therefore, the early censuses of manufacturing overstated labor productivity in small relative to large establishments but the size of the bias is smaller than alleged by Sokoloff.
John Hicks
- Published in print:
- 1977
- Published Online:
- November 2003
- ISBN:
- 9780198284079
- eISBN:
- 9780191596421
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198284071.003.0002
- Subject:
- Economics and Finance, Macro- and Monetary Economics
This chapter explores the meaning of industrialism. It considers some of the consequences which follow when industrialism is defined as ‘science-based technical progress embodied in physical ...
More
This chapter explores the meaning of industrialism. It considers some of the consequences which follow when industrialism is defined as ‘science-based technical progress embodied in physical equipment’. It discusses industrialism in relation to science-based technology, economies of scale, land, and labour.Less
This chapter explores the meaning of industrialism. It considers some of the consequences which follow when industrialism is defined as ‘science-based technical progress embodied in physical equipment’. It discusses industrialism in relation to science-based technology, economies of scale, land, and labour.
Philippa Dee and Christopher Findlay
- Published in print:
- 2007
- Published Online:
- January 2008
- ISBN:
- 9780199235216
- eISBN:
- 9780191715624
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199235216.003.0008
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter discusses what many infrastructure industries have in common — economies of scale or scope — and how this poses some significant policy challenges for successful trade policy reform. ...
More
This chapter discusses what many infrastructure industries have in common — economies of scale or scope — and how this poses some significant policy challenges for successful trade policy reform. These conditions can lead to natural monopoly. The problem is that the single producer may abuse its monopoly power by restricting the quantity or quality of output and pricing above costs. Opening this market to trade creates opportunity for alternative suppliers but also creates challenges of arranging the transition to a new provider and regulating them appropriately. The chapter discusses how international trade negotiations can contribute to ensuring successful outcomes. The key messages are that while natural monopoly is a common feature of the infrastructure sector, care should be taken not to exaggerate its importance. There are circumstances in which no policy problem arises. Further, even if there is an apparent natural monopoly, it is important to separate that part of the chain of supply from other elements in which competition can develop. Even so, natural monopoly elements remain. The GATS is relevant to natural monopoly markets and contains some disciplines on policy in those markets. Trade-policy reform can contribute to performance in markets in which natural monopolies have some influence. However, market opening has to be complemented by the appropriate regulatory structures to capture these benefits, for example, related to the terms on which competitive firms have access to bottleneck facilities. Commitments made through international trade negotiations can facilitate the necessary regulatory reform.Less
This chapter discusses what many infrastructure industries have in common — economies of scale or scope — and how this poses some significant policy challenges for successful trade policy reform. These conditions can lead to natural monopoly. The problem is that the single producer may abuse its monopoly power by restricting the quantity or quality of output and pricing above costs. Opening this market to trade creates opportunity for alternative suppliers but also creates challenges of arranging the transition to a new provider and regulating them appropriately. The chapter discusses how international trade negotiations can contribute to ensuring successful outcomes. The key messages are that while natural monopoly is a common feature of the infrastructure sector, care should be taken not to exaggerate its importance. There are circumstances in which no policy problem arises. Further, even if there is an apparent natural monopoly, it is important to separate that part of the chain of supply from other elements in which competition can develop. Even so, natural monopoly elements remain. The GATS is relevant to natural monopoly markets and contains some disciplines on policy in those markets. Trade-policy reform can contribute to performance in markets in which natural monopolies have some influence. However, market opening has to be complemented by the appropriate regulatory structures to capture these benefits, for example, related to the terms on which competitive firms have access to bottleneck facilities. Commitments made through international trade negotiations can facilitate the necessary regulatory reform.
Marc Flandreau
- Published in print:
- 2004
- Published Online:
- August 2004
- ISBN:
- 9780199257867
- eISBN:
- 9780191601279
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199257868.003.0007
- Subject:
- Economics and Finance, Economic History
Chapter 6 documents the role of arbitrage networks on the operation of bimetallism. Focusing on the experience of the Rothschilds, its shows how bankers organized themselves in order to take ...
More
Chapter 6 documents the role of arbitrage networks on the operation of bimetallism. Focusing on the experience of the Rothschilds, its shows how bankers organized themselves in order to take advantage of the profits associated with bullion arbitrage. The response involved a combination of concentration (of refining and coining activities), and decentralization (of partners and associates all over the world to put bullion into motion).Less
Chapter 6 documents the role of arbitrage networks on the operation of bimetallism. Focusing on the experience of the Rothschilds, its shows how bankers organized themselves in order to take advantage of the profits associated with bullion arbitrage. The response involved a combination of concentration (of refining and coining activities), and decentralization (of partners and associates all over the world to put bullion into motion).
Richard Pomfret
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780199248872
- eISBN:
- 9780191596797
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199248877.003.0009
- Subject:
- Economics and Finance, International
Surveys extensions to the mainstream models that were introduced in the 1950s, 1960s, and 1970s: higher dimensionality (Sect. 1), tariffs in the rest of the world (Sect. 2), the terms of trade (Sect. ...
More
Surveys extensions to the mainstream models that were introduced in the 1950s, 1960s, and 1970s: higher dimensionality (Sect. 1), tariffs in the rest of the world (Sect. 2), the terms of trade (Sect. 3), economies of scale (Sect. 4), and technical efficiency and growth (Sect. 5).Less
Surveys extensions to the mainstream models that were introduced in the 1950s, 1960s, and 1970s: higher dimensionality (Sect. 1), tariffs in the rest of the world (Sect. 2), the terms of trade (Sect. 3), economies of scale (Sect. 4), and technical efficiency and growth (Sect. 5).
Richard Pomfret
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780199248872
- eISBN:
- 9780191596797
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199248877.003.0010
- Subject:
- Economics and Finance, International
Analyses the new regionalism that emerged in the mid‐1980s. By downplaying the significance of trade diversion and emphasizing scale‐based and pro‐competitive benefits of integration, the new ...
More
Analyses the new regionalism that emerged in the mid‐1980s. By downplaying the significance of trade diversion and emphasizing scale‐based and pro‐competitive benefits of integration, the new regionalism had a more positive vision of RTAs than mainstream customs union theory had. Section 1 introduces economies of scale and imperfect competition. Section 2 analyses non‐tariff barriers to trade. Section 3 covers ‘new areas’ of foreign investment, competition policy, and monetary integration, which had not featured in mainstream customs union theory. Section 4 deals with rules of origin, which had emerged as a major trade policy issue in the 1980s and 1990s.Less
Analyses the new regionalism that emerged in the mid‐1980s. By downplaying the significance of trade diversion and emphasizing scale‐based and pro‐competitive benefits of integration, the new regionalism had a more positive vision of RTAs than mainstream customs union theory had. Section 1 introduces economies of scale and imperfect competition. Section 2 analyses non‐tariff barriers to trade. Section 3 covers ‘new areas’ of foreign investment, competition policy, and monetary integration, which had not featured in mainstream customs union theory. Section 4 deals with rules of origin, which had emerged as a major trade policy issue in the 1980s and 1990s.
William J. Collins and Robert A. Margo
- Published in print:
- 2015
- Published Online:
- May 2016
- ISBN:
- 9780226261621
- eISBN:
- 9780226261768
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226261768.003.0001
- Subject:
- Economics and Finance, Economic History
This book is a collection of seven original research papers by leading scholars of American economic history that were presented at a conference held at Vanderbilt University in December 2013 and ...
More
This book is a collection of seven original research papers by leading scholars of American economic history that were presented at a conference held at Vanderbilt University in December 2013 and revised in light of suggestions from conference participants and outside reviewers. Sponsored by the National Bureau of Economic Research and Vanderbilt University, the conference was entitled, “Enterprising America: Businesses, Banks, and Credit Markets in Historical Perspective.” The principal themes of the book include changes in business organization and governance, bank behavior and credit markets, and scale economies in nineteenth-century production. The introductory chapter provides a discussion of the background context that motivated the conference, follows with a summary of each chapter, and concludes with a brief recapitulation of the main findings and suggestions for further research.Less
This book is a collection of seven original research papers by leading scholars of American economic history that were presented at a conference held at Vanderbilt University in December 2013 and revised in light of suggestions from conference participants and outside reviewers. Sponsored by the National Bureau of Economic Research and Vanderbilt University, the conference was entitled, “Enterprising America: Businesses, Banks, and Credit Markets in Historical Perspective.” The principal themes of the book include changes in business organization and governance, bank behavior and credit markets, and scale economies in nineteenth-century production. The introductory chapter provides a discussion of the background context that motivated the conference, follows with a summary of each chapter, and concludes with a brief recapitulation of the main findings and suggestions for further research.
Pranab Bardhan and Christopher Udry
- Published in print:
- 1999
- Published Online:
- November 2003
- ISBN:
- 9780198773719
- eISBN:
- 9780191595929
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198773714.003.0014
- Subject:
- Economics and Finance, Development, Growth, and Environmental
Starts with an illustration of the effect of growth on the terms of trade between a rich and a poor country, using a simple comparative‐static framework. Next, we study the pro‐competitive effects of ...
More
Starts with an illustration of the effect of growth on the terms of trade between a rich and a poor country, using a simple comparative‐static framework. Next, we study the pro‐competitive effects of trade liberalization in inputs with a model in which an import‐substituting upstream industry supplies an intermediate good to the producers of the final good. With imperfect competition and scale economies among upstream firms, the model has multiple equilibria, and trade liberalization may trigger an expansion to the higher output equilibrium. The next section is about the effects of trade on economic development as analyzed in endogenous growth theory, with its focus on learning‐by‐doing, dynamic learning spillovers, and trade‐induced technological patterns in growth. This section includes a model of North–South trade that endogenizes comparative advantage and the direction of technological specialization.Less
Starts with an illustration of the effect of growth on the terms of trade between a rich and a poor country, using a simple comparative‐static framework. Next, we study the pro‐competitive effects of trade liberalization in inputs with a model in which an import‐substituting upstream industry supplies an intermediate good to the producers of the final good. With imperfect competition and scale economies among upstream firms, the model has multiple equilibria, and trade liberalization may trigger an expansion to the higher output equilibrium. The next section is about the effects of trade on economic development as analyzed in endogenous growth theory, with its focus on learning‐by‐doing, dynamic learning spillovers, and trade‐induced technological patterns in growth. This section includes a model of North–South trade that endogenizes comparative advantage and the direction of technological specialization.
Richard Pomfret
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780199248872
- eISBN:
- 9780191596797
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199248877.003.0013
- Subject:
- Economics and Finance, International
Deals with empirical work on North American regional trading arrangements. Section 1 reports estimates of the impact of a free trade area between the USA and Canada. This literature was innovative in ...
More
Deals with empirical work on North American regional trading arrangements. Section 1 reports estimates of the impact of a free trade area between the USA and Canada. This literature was innovative in trying to account for scale economies and general equilibrium effects of an RTA. The remainder of the chapter deals with the effects of the North American Free Trade Agreement (NAFTA) on the three signatories (Sect. 2) and on non‐member countries (Sect. 3). Section 4 draws conclusions.Less
Deals with empirical work on North American regional trading arrangements. Section 1 reports estimates of the impact of a free trade area between the USA and Canada. This literature was innovative in trying to account for scale economies and general equilibrium effects of an RTA. The remainder of the chapter deals with the effects of the North American Free Trade Agreement (NAFTA) on the three signatories (Sect. 2) and on non‐member countries (Sect. 3). Section 4 draws conclusions.
Eli M. Noam
- Published in print:
- 2009
- Published Online:
- October 2011
- ISBN:
- 9780195188523
- eISBN:
- 9780199852574
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195188523.003.0019
- Subject:
- Business and Management, Information Technology
Earlier, this book presented a simple model for the dynamics of the information sector. It is based on two variables: lower entry barriers, which induce a new entry, and growing economies of scale, ...
More
Earlier, this book presented a simple model for the dynamics of the information sector. It is based on two variables: lower entry barriers, which induce a new entry, and growing economies of scale, which lead to a more concentrated market structure. A third factor is digital convergence. It means that as industries become more digital in their technical characteristics, they also become more “digital” in their fundamental economic characteristics and hence in their market concentration characteristics. The concentration of the information sector dropped as both entry barriers and economies of scale dropped. This was the period of openness and competition. It was soon followed by the takeoff of the Internet and a boom period unparalleled in recent decades in American economic history. What has happened is that the entire information sector—from film to music to newspapers to telecommunications to Internet to microchips and anything in between—has been subject to a gigantic price deflation in slow motion. These are the factors underlying much of the consolidation in the information sector.Less
Earlier, this book presented a simple model for the dynamics of the information sector. It is based on two variables: lower entry barriers, which induce a new entry, and growing economies of scale, which lead to a more concentrated market structure. A third factor is digital convergence. It means that as industries become more digital in their technical characteristics, they also become more “digital” in their fundamental economic characteristics and hence in their market concentration characteristics. The concentration of the information sector dropped as both entry barriers and economies of scale dropped. This was the period of openness and competition. It was soon followed by the takeoff of the Internet and a boom period unparalleled in recent decades in American economic history. What has happened is that the entire information sector—from film to music to newspapers to telecommunications to Internet to microchips and anything in between—has been subject to a gigantic price deflation in slow motion. These are the factors underlying much of the consolidation in the information sector.
