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Despite recent currency crises, most of the Asia-Pacific economies continue to be among the most attractive markets in the world and now appear to be recovering rapidly. An important element in understanding the dynamics of firm strategies in Asia is the nature of nonmarket strategies, which concern efforts to respond to and influence the political-economic-social environment. To examine such nonmarket strategies and how they fit with other firm tasks, this article first focuses on "positional analysis"—that is, how market forces, firm competencies, and the nonmarket environment influence the choice of trade, investment, or some mix, at the national, regional, or global level. It then considers the nature of "strategic analysis," consisting of a firm's choices of market arena, a transaction cost analysis of organization forms for market penetration, and a distributive politics analysis of nonmarket issues. These factors combine to influence the firm's integrated strategic choice. Implementation of this choice is based on "tactical analysis" that focuses on the market, organizational, and nonmarket tactics that firms must pursue to succeed with their chosen strategy.

For three decades Japanese auto producers, supported by the Japanese government, deployed with extraordinary success market and nonmarket strategies to access the small and fragmented but rapidly growing car markets of Southeast Asia. The last half-decade has presented a series of unexpected challenges, including extended recession and financial reform in Japan; the lingering effects of the financial crisis in Southeast Asia; and the entry of new competitors from South Korea, North America, and Europe. These pressures have split the industry into two. Leaders Toyota and Honda have defended and extended traditional Japanese production networks. Weaker players such as Nissan, Mitsubishi, and Suzuki have accepted subordination to the leading western firms, which are rationalizing their Japanese partners and using them to enter Japan and other Asian markets. This article explores production, trade, and investment data, industrial policies toward autos in Japan and Southeast Asia, and brief case studies of Toyota and Nissan to illustrate the challenges to, and varying responses of, Japanese auto producers in developing Asia. These firms remain committed to Southeast Asia, but the days of Japanese dominance are drawing to a close.

AbstractAllocation of scarce common components to finished product orders is central to the performance of assembly systems. Analysis of these systems is complex, however, when the product master schedule is subject to uncertainty. In this paper, we analyze the cost—service performance of a component inventory system with correlated finished product demands, where component allocation is based on a fair shares method. Such issuing policies are used commonly in practice. We quantify the impact of component stocking policies on finished product delays due to component shortages and on product order completion rates. These results are used to determine optimal base stock levels for components, subject to constraints on finished product service (order completion rates). Our methodology can help managers of assembly systems to (1) understand the impact of their inventory management decisions on customer service, (2) achieve cost reductions by optimizing their inventory investments, and (3) evaluate supplier performance and negotiate contracts by quantifying the effect of delivery lead times on costs and customer service. © 2001 John Wiley & Sons, Inc. Naval Research Logistics 48:409–429, 2001

The paper reports a study into set‐up time reduction and mistake proofing methods in a small company involved in the machining of precision components in small batches with high variety for the aerospace industry. The company has made some set‐up reductions mainly using work study related methods and in one manufacturing cell by the use of the Single Minute Exchange of Die (SMED) methodology. Mistake proofing devices in the form of fouling pins and offset holes have been developed for the family of components manufactured in this cell. Until recently the set‐up times were not measured and worse still were considered as productive hours. As a consequence, there was a lack of awareness and motivation amongst operational personnel to reduce set‐up times and knowledge of SMED was limited to a small group of individuals. This, along with the lack of investment in mechanisms to aid set‐up time reductions and prevent errors, has restricted the use of this type of methods and technology. However, there is evidence that the demands made by the company's major customer will lead to increased efforts to put into place these types of changes.

This paper analyzes the process of power utility re-regulation in Eastern Europe and the CIS during the decade of systemic transformation (1990-1999); in particular, it explores reasons why early attempts to introduce competition-oriented reform models have not succeeded. We discuss advantages and disadvantages of various reform models from an institutional economic perspective. The approaches to and results of power sector reform in Eastern Europe are assessed; quantitative indicators are wholesale and retail prices, cost coverage ratios, investment levels, and the degree of unbundling and privatization. The paper concludes that a gradual approach to reforms may have been appropriate for the first years of systemic transformation, but that today, ten years later, there is no reason to delay market-oriented reforms any longer. ; Der Beitrag untersucht die Re-Regulierung der Stromwirtschaften in den osteuropäischen Transformationsländern zwischen 1990 und 1999; insbesondere wird geprüft, warum frühe marktorientierte Reformansätze gescheitert sind. Nach einem Vergleich alternativer Reformmodelle werden der Prozess und die Ergebnisse der Re-Regulierung analysiert; quantitative Indikatoren sind die absoluten und relativen Preise, Kostendeckungsgrade, die Höhe der Investitionen und da Ausmaß der Liberalisierung und Privatisierung. Die vorliegende Evidenz legt nahe, dass aufgrund technischer und institutioneller Schwierigkeiten eine umgehende Marktöffnung nicht möglich war; andererseits gibt es heute, 10 Jahre später, keinen Grund mehr, die Liberalisierung und Privatisierung der Stromwirtschaft weiter zu verzögern.

This paper analyzes the process of power utility re-regulation in Eastern Europe and the CIS during the decade of systemic transformation (1990-1999); in particular, it explores reasons why early attempts to introduce competition-oriented reform models have not succeeded. We discuss advantages and disadvantages of various reform models from an institutional economic perspective. The approaches to and results of power sector reform in Eastern Europe are assessed; quantitative indicators are wholesale and retail prices, cost coverage ratios, investment levels, and the degree of unbundling and privatization. The paper concludes that a gradual approach to reforms may have been appropriate for the first years of systemic transformation, but that today, ten years later, there is no reason to delay market-oriented reforms any longer. ; Der Beitrag untersucht die Re-Regulierung der Stromwirtschaften in den osteuropäischen Transformationsländern zwischen 1990 und 1999; insbesondere wird geprüft, warum frühe marktorientierte Reformansätze gescheitert sind. Nach einem Vergleich alternativer Reformmodelle werden der Prozess und die Ergebnisse der Re-Regulierung analysiert; quantitative Indikatoren sind die absoluten und relativen Preise, Kostendeckungsgrade, die Höhe der Investitionen und da Ausmaß der Liberalisierung und Privatisierung. Die vorliegende Evidenz legt nahe, dass aufgrund technischer und institutioneller Schwierigkeiten eine umgehende Marktöffnung nicht möglich war; andererseits gibt es heute, 10 Jahre später, keinen Grund mehr, die Liberalisierung und Privatisierung der Stromwirtschaft weiter zu verzögern.

It is clear from the implications of growth theory that the impact of aid depends on how it affects savings, investment and government behaviour. In respect of low-income countries, which are the principal aid recipients and the economies for which the issue of the impact of aid on growth is most important, it is government that is most important. This paper presents a review of studies that address the impact of aid on government fiscal behaviour. In particular, the focus is on fungibility and fiscal response studies. We argue that fungibility studies have been granted too much attention; these are narrowly focussed on the composition of government spending, and are not sufficiently informative about fiscal behaviour. Fiscal response studies are of greater relevance, as they attempt to address the effects of aid on behaviour regarding total spending, tax revenue and borrowing. Results show that the effects are complex and varied, but that aid tends to be associated with government spending increases in excess of the value of the aid, and can also have effects on tax effort and borrowing.

The relationship between an economy's financial sector and the occurrence and resolution of conflict may at first sight appear tenuous. Banking systems, financial regulation and currency arrangements do not appear to be relevant in understanding why nations collapse or why people kill each other. However, the linkages between the financial sector and issues of conflict are closer than one might expect. Narrow development—development that fails to reduce poverty and which exacerbates initial inequalities—is an important cause of conflict (but, needless to say, not the only one). Narrow development must be financed—and it is financed in ways that increase poverty and inequality and raise a society's propensity to violent conflict. During conflict, finance (both internal and external) can be decisive in determining who wins, as well as the duration of war. Rebuilding the financial system is important to reconstruction from war, since otherwise private investment is constrained. But 'post-conflict' economies generally have weak regulatory authorities, and the financial system may be flooded with unsound loans, leading to economic problems that can endanger economic recovery and therefore peace. – aid ; conflict ; financial development ; sub-Saharan Africa

Most opportunistic-type models of political business cycles tend to posit a given objective for incumbents: maximisation of re-election chances. Though taking an opportunistic view too, we suggest a new explanation for a fiscal policy cycle: the incumbent's concern with her own welfare in cases of victory and defeat. This rationale addresses local policy-making in particular. An equilibrium perfect foresight model is designed which totally dispenses with any form of irrationality (namely, on the part of voters) or the common objective functions (re-election chances). Being well grounded in basic microeconomic theory (welfare maximisation by the individual agent), our model provides another foundation for the emergence of political business cycles at the local level. The empirical plausibility of theoretical predictions is then tested on Portuguese municipal data ranging from 1977 to 1993. The estimation of an error-components econometric framework finds evidence in favour of the proposed explanation and enlightens the role played by several politicoeconomic determinants of local governments' investment outlays, such as electoral calendar, re-candidacy decisions, political cohesion and intergovernmental capital transfers. ; N/A

This contribution assesses the role of the EU in the Middle East Peace Process & shows the challenges for EU policy resulting from the current violent confrontations & the blockade to be expected in the midterm. It draws the conclusion that in recent years the EU has grown beyond being a simple "payer" in the Middle East & has developed its own fields of action. However, the EU has not used the instruments at its disposal sufficiently to make its financial & diplomatic investments bear fruit. The aims set by the EU -- supporting the building of a democratic & viable Palestinian entity, winning over the Palestinian population to the peace process by improving the living conditions, & reducing the enmity through joint Israeli-Palestinian projects -- have not been attained. The challenge for the EU will therefore be to take a more clear & unified political stand & thus strengthen the policy instruments available. It would not be advisable, however, to aim at competing with the US for the role of the main mediator in the peace process. Adapted from the source document.

This article studies aspects of government & business relations between Mexico & Canada during the past 10 years, particularly during the Zedillo administration. In general terms, these relations were conditioned by the requirements of each country -- by definition different -- & by objectives that did not always coincide. Foremost among these requirements were Mexico's interest in seeking out new markets for export products & services, & in increasing Canadian investment opportunities, as well as Ottawa's concern regarding human rights & democracy in Mexico. Both sought to include new themes in the bilateral agenda. Further, relations between Mexico & Canada have been increasingly closer as a result of the political initiatives that have accompanied NAFTA's development; ie, the most difficult task -- the rapprochement -- has been successfully completed, surpassing all expectations. Regarding perceptions, attitudes, & distrust that stemmed from the scant knowledge each country had of the other, progress was definitely made. An extensive project for exchanges in all areas, which underlines the number of common interests between these two countries, is happily under way, & we can expect it to become even stronger, in spite of the still decisive weight of the US in the regional order. Adapted from the source document.

This article problematizes the role of the state in what is claimed to be the "flagship" of the South African Spatial Development Initiative (SDI) program, the Maputo Development Corridor (MDC). The purpose is to assess to what extent the state is best understood as a "transmission belt" for transnational capital or as a "facilitator" for development. The study reveals several flaws in the MDC which reinforce the role of the state as a transmission belt for transnational capital, rather than as a facilitator for development. For instance, the neo-liberal market fundamentalism & big-bang approach inherent in the MDC spells "jobless growth." Similarly, the notion that "good governance is less government," implies that the state is to a large extent reduced to an "investment promotion agency." Having said this, the MDC does contain several novel & positive features, & its problematic aspects can be overcome through some strategic changes in the MDC approach. These may be summarized as a heavier focus on "development," a more pro-active state, & more comprehensive & inclusive governance structures. 1 Map, 43 References. Adapted from the source document.

Nach den starken Kursverlusten zum Ende des letzten und zu Beginn des neuen Jahrtausends wird den Investoren einmal mehr vor Augen geführt, dass die Börse keine Einbahnstrasse mit ständig steigenden Kursen ist. Insbesondere deutsche Kleinanleger ist dies die erste Baisse, die sie hautnah miterleben. Nichtsdestotrotz wird die Aktienkultur in Deutschland immer mehr an Einfluss gewinnen. Bereits Ende 1999 waren nach Angaben des Bundesverbandes Deutscher Investment-Gesellschaften (BVI) ca. 12 Millionen Bundesbürger in Dividendentiteln investiert. Eine Vielzahl von Privatanleger setzen auf Aktienfonds und versuchen so, eine beständige und positive Vermögensentwicklung zu haben, ohne das Risiko einer Einzeltitelauswahl eingehen zu müssen. Ende 1999 waren beim BVI etwa 1.350 Publikumsfonds und 4.200 Spezialfonds institutioneller Investoren registriert. Besonders beeindruckend ist die Tatsache, dass sich die "Assets under Management" innerhalb von nur 3 Jahren verdoppelt haben. Trotz dieser geradezu explodierenden Nachfrage an eine professionelle Vermögensverwaltung wird es für Fondsmanager immer wichtiger, sich gegenüber der Konkurrenz abzuheben bzw. eine langfristig gute Performance zu liefern. Einen möglichen Weg kann dabei das sogenannte Style Investing darstellen. Dieser Ansatz basiert weniger auf einer wirtschaftswissenschaftlichen Theorie, sondern mehr auf der empirischen Beobachtung, dass sich Aktien mit bestimmten Merkmalen besser entwickeln als andere. Eine Variante beim Style Investing ist der "Value- und Growth-Ansatz". Hier werden Wachstums- und Substanztitel anhand bestimmter Kennziffern gekauft bzw. wieder verkauft. Die langjährige Beobachtung von Value- und Growth-Aktien zeigt, dass sich die eine oder andere Spielart besser entwickelt, als ein vergleichbares Universum. Nun stellt sich natürlich die Frage, wann ein Fondsmanager auf Value- und wann auf Growth-Titel setzen sollte. Die vorliegende Arbeit soll einen Beitrag in die Erforschung dieser bisher nicht abschließend geklärten Fragestellung geben, in dem sie Value- und Growth-Zyklen vor dem Hintergrund makroökonomischer Einflussgrößen beurteilt. Wie die Ergebnisse der vorliegenden empirischen Arbeit zeigen, muss eine erfolgreiche Investmentstrategie nicht immer vom Zufall abhängen.