Voyevodins' Library _ "International Business: Competing in the Global Marketplace" / Charles W.L. Hill ... Chapter 2 ... absolute advantage, ad valorem tariff, administrative trade policies, Andean Pact, antidumping policies, antidumping regulations, arbitrage, ASEAN (Association of South East Asian Nations), balance-of-payments accounts, banking crisis, barriers to entry, barter, basic research centers, bilateral netting, bill of exchange, bill of lading (or draft), Bretton Woods, bureaucratic controls, capital account, capital controls, CARICOM, caste system, centralized depository, channel length, civil law system, class consciousness, class system, collectivism, COMECON, command economy, common law system, common market, communist totalitarianism, communists, comparative advantage, competition policy, constant returns to specialization, controlling interest, copyright, core competence, counterpurchase, countertrade, cross-cultural literacy, cross-licensing agreement, cultural controls, culture, currency board, currency crisis Voevodin's Library: absolute advantage, ad valorem tariff, administrative trade policies, Andean Pact, antidumping policies, antidumping regulations, arbitrage, ASEAN (Association of South East Asian Nations), balance-of-payments accounts, banking crisis, barriers to entry, barter, basic research centers, bilateral netting, bill of exchange, bill of lading (or draft), Bretton Woods, bureaucratic controls, capital account, capital controls, CARICOM, caste system, centralized depository, channel length, civil law system, class consciousness, class system, collectivism, COMECON, command economy, common law system, common market, communist totalitarianism, communists, comparative advantage, competition policy, constant returns to specialization, controlling interest, copyright, core competence, counterpurchase, countertrade, cross-cultural literacy, cross-licensing agreement, cultural controls, culture, currency board, currency crisis


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Chapter 2 Outline

Notes

  1. M. Kreinin, "Brazil: the Land of Telecom Opportunity: US Firms Profit from Privatization," USA Today, December 1, 1997, p. B12.

  2. Although as we shall see, there is not a strict one-to-one correspondence between political systems and economic systems. A. O. Hirschman, "The On-and-Off Again Connection between Political and Economic Progress," American Economic Review 84, no. 2 (1994), pp. 343 - 348.

  3. For a discussion of the roots of collectivism and individualism see H. W. Spiegel, The Growth of Economic Thought (Durham, NC: Duke University Press, 1991). An easily assessable discussion of collectivism and individualism can be found in M. Friedman and R. Friedman, Free to Choose (London: Penguin Books, 1980).

  4. For a classic summary of the tenets of Marxism details, see A. Giddens, Capitalism and Modern Social Theory (Cambridge: Cambridge University Press, 1971).

  5. For details see "A Survey of China," The Economist, March 18, 1995.

  6. J. S. Mill, On Liberty (London: Longman's, 1865), p.6.

  7. A. Smith, The Wealth of Nations, Vol. 1 (London: Penguin Books), p. 325.

  8. R. Wesson, Modern Government-Democracy and Authoritarianism, 2nd ed. (Englewood Cliffs, NJ: Prentice Hall, 1990).

  9. For a detailed but accessible elaboration of this argument see M. Friedman and R. Friedman, Free to Choose (London: Penguin Books, 1980). Also see P. M. Romer, "The Origins of Endogenous Growth," Journal of Economic Perspectives 8, no. 1 (1994), pp. 2 - 32.

  10. M. Borrus, L. A. Tyson and J. Zysman, "Creating Advantage: How Government Policies Created Trade in the Semiconductor Industry," in Strategic Trade Policy and the New International Economics, ed. P. Krugman (Cambridge, MA: MIT Press, 1986).

  11. See Lester Thurow, Head to Head (New York: Warner Books, 1993).

  12. D. North, Institutions, Institutional Change, and Economic Performance (Cambridge: Cambridge University Press, 1991).

  13. P. Klebnikov, "Russia's Robber Barons," Forbes, November 21, 1994, pp. 74 - 84; C. Mellow, "Russia: Making Cash from Chaos," Fortune, April 17, 1995, pp. 145 - 151; and "Mr Tatum Checks Out," The Economist, November 9, 1996, p. 78.

  14. "Godfather of the Kremlin?" Fortune, December 30, 1996, pp. 90 - 96.

  15. "Mr Tatum Checks Out."

  16. K. van Wolferen, The Enigma of Japanese Power (New York: Vintage Books, 1990), pp. 100 - 05.

  17. P. Bardhan, "Corruption and Development: A Review of the Issues," Journal of Economic Literature, September 1997, pp. 1320 - 46.

  18. K. M. Murphy, A. Shleifer, and R. Vishny, "Why Is Rent Seeking So Costly to Growth," American Economic Review 83, no. 2 (1993), pp. 409 - 14.

  19. Keiran Cooke, "Honeypot of as Much as $4 Billion Down the Drain," Financial Times, February 26, 1994, p. 4.

  20. Douglass North has argued that the correct specification of intellectual property rights is one factor that lowers the cost of doing business and, thereby, stimulates economic growth and development. See D. North, Institutions, Institutional Change, and Economic Performance (Cambridge: Cambridge University Press, 1991).

  21. Business Software Alliance, Global Software Piracy Report: Facts and Figures, 1994 - 1996. Available from http://www.bsa.org.
  1. Ibid.

  2. S. Greenberger and C. S. Smith, "CD Piracy Flourishes in China and the West Supplies Equipment," Wall Street Journal, April 27, 1997, pp. A1, A4.

  3. "Trade tripwires," The Economist, August 27, 1994, p. 61.

  4. Business Software Alliance, "Software Piracy in China," press release, November 18, 1996.

  5. "A Survey of the Legal Profession," The Economist, July 18, 1992, pp. 1 - 18.

  6. The World Bank, World Development Report, 1998/99: Knowledge For Development (Oxford: Oxford University Press, 1999).

  7. G. M. Grossman and E. Helpman, "Endogenous Innovation in the Theory of Growth," Journal of Economic Perspectives 8, no. 1 (1994), pp. 23 - 44, and P. M. Romer, "The Origins of Endogenous Growth," Journal of Economic Perspectives, 8, no. 1 (1994), pp. 3 - 22.

  8. F. A. Hayek, The Fatal Conceit: Errors of Socialism (Chicago: University of Chicago Press, 1989).

  9. James Gwartney, Robert Lawson, and Walter Block, Economic Freedom of the World: 1975 - 1995 (London: Institute of Economic Affairs, 1996).

  10. North, Institutions, Institutional Change and Economic Performance See also Murphy, Shleifer, and Vishny, "Why Is Rent Seeking so Costly to Growth?"

  11. Hirschman, "The On-and-Off Again Connection between Political and Economic Progress, A. Przeworski and F. Limongi, "Political Regimes and Economic Growth," Journal of Economic Perspectives 7, no. 3 (1993), pp. 51 - 59.

  12. As an example, see "Why Voting Is Good for You," The Economist, August 27, 1994, pp. 15 - 17.

  13. Ibid.

  14. For details of this argument see M. Olson, "Dictatorship, Democracy, and Development," American Political Science Review, September 1993.

  15. For example see Jarad Diamond, Guns, Germs, and Steel (New York: W. W. Norton, 1997). Also see J. Sachs, "Nature, Nurture and growth," The Economist, June 14, 1997, pp. 19 - 22.

  16. Ibid.

  17. "What Can the Rest of the World Learn from the Classrooms of Asia?" The Economist, September 21, 1996, p. 24.

  18. J. Fagerberg, "Technology and International Differences in Growth Rates," Journal of Economic Literature, 32 (September 1994), pp. 1147 - 75.

  19. See "1997 Freedom Around the World," Freedom Review, January - February 1997, pp. 5 - 29.

  20. Ibid.

  21. L. Conners, "Freedom to Connect," Wired, August 1997, pp. 105 - 06.

  22. F. Fukuyama, "The End of History," The National Interest 16 (Summer 1989), p. 18.

  23. S. P. Huntington, The Clash of Civilizations and the Remaking of World Order (New York: Simon & Schuster, 1996).

  24. Ibid., p. 116.

  25. S. Fisher, R. Sahay, and C. A. Vegh, "Stabilization and the Growth in Transition Economies: the Early Experience," Journal of Economic Perspectives 10 (Spring 1996), pp. 45 - 66.

  26. B. T. Johnson, K. R. Holmes, and M. Kirpatrick, 1999 Index of Economic Freedom (Heritage Foundation, 1998).

  27. N. Weinberg, "First the Pain, Then the Gain," Forbes, May 5, 1997, pp. 134 - 37.

  28. J. C. Brada, "Privatization Is Transition-Is It?" Journal of Economic Perspectives, Spring 1996, pp. 67 - 86.

  29. M. S. Borish and M. Noel, "Private Sector Development in the Visegrad Countries," World Bank, March 1997.

  30. Ibid.

  31. Fischer, Sahay, and Vegh, "Stabilization and Growth in Transition Economies."

  32. M. Bleaney, "Economic Liberalization in Eastern Europe: Problems and Prospects," The World Economy 17, no. 4 (1994), pp. 497 - 507.

  33. M. Wolf and C. Freeland, "The Long Day's Journey to Market," Financial Times, March 7, 1995, p. 15.

  34. "Lessons of Transition," The Economist, June 29, 1996, p. 81.

     

  35. For a discussion of first-mover advantages, see M. Liberman and D. Montgomery, "First-Mover Advantages," Strategic Management Journal 9 (Summer Special Issue, 1988), pp. 41 - 58.

  36. "Of Liberty and Prosperity," The Economist, January 13, 1996, pp. 21 - 23.

  37. S. H. Robock, "Political Risk: Identification and Assessment," Columbia Journal of World Business, July/August 1971, pp. 6 - 20.

  38. Steven L. Myers, "Report Says Business Interests Overshadow Rights," New York Times, December 5, 1996, p. A8.

  39. Jo-Ann Mort, "Sweated Shopping," The Guardian, September 8, 1997, p. 11.

  40. Bardhan Pranab, "Corruption and Development," Journal of Economic Literature 36 (September 1997), pp. 1320 - 46.

  41. A. Shleifer and R. W. Vishny, "Corruption," Quarterly Journal of Economics, no. 108 (1993), pp. 599 - 617.

  42. P. Mauro, "Corruption and Growth," Quarterly Journal of Economics, no. 110 (1995), pp. 681 - 712.
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