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African countries are not simply spectators to the economic rise of China and India, they are party to it. This book demonstrates how the growing economic power of China and India is already influencing the growth patterns of African countries, particularly oil- and commodities-exporting ones. As world prices for commodities rise, producer countries in Africa and throughout the world will gain, but there is more to the story than that. Some African countries are redirecting part of their trade and other relationships from their traditional OECD partners to China and India. The book explores the consequences of this, and comes to some surprising conclusions.

ABSTRACT The effect of globalization on national economic and political strategies is a central theme in policy analysis. At the core of this debate is business governance, interpreted in this paper in a wide sense as the laws, rules, and routines that govern large-scale corporations. Conventional wisdom has it that cross-national patterns of business governance are converging on the so-called Anglo-Saxon, capital-market driven model. In this paper I analyze recent changes in Brazil and South Africa, to conclude that models of business governance should be seen jointly with the institutional underpinnings of the economy. These include legal traditions that are unlikely to undergo rapid changes, other institutional features directly related to the ways in which first compete in the global economy, and the mechanisms through which social actors resist changes adverse to their interests.

The effect of globalization on national economic and political strategies is a central theme in policy analysis. At the core of this debate is business governance, interpreted in this paper in a wide sense as the laws, rules, and routines that govern largescale corporations. This paper analyzes recent changes in Brazil and South Africa, to conclude that models of business governance should be seen jointly with the institutional underpinnings of the economy. These include legal traditions that are unlikely to undergo rapid changes, other institutional features directly related to the ways in which firms compete in the global economy, and the mechanisms through which social actors resist changes adverse to their interests. (Rev Econ Polit/DÜI)

This paper analyzes the evolution of corporate governance and regulation in privatized telecommunication companies in the four largest EU economies. A political-economy approach is used to test the validity of the convergence hypothesis, which posits that globalization should produce convergence in business practices, ownership patterns, and regulatory frameworks. While there are signs that the structure of ownership and monitoring in continental Europe is adopting some of the features of the Anglo-Saxon arms-length governance system, corporate decisions remain shaped by durable national institutions and distinctive political traditions regarding the role of the corporation in society, the "just" level of executive remuneration, the concept of universal service, and the involvement of the state in corporate restructuring.

Since the outset of the Real Plan, Brazil has made considerable progress in economic stabilisation, although privatisation has so far been incomplete. This study aims at answering a number of questions emerging from the Brazilian privatisation experience. To what extent have sell-offs been influenced by Brazil's legal and institutional framework and by its political context? How are authorities coping with the issues regarding ownership patterns and market structures? And, taking into account the key role that "state capitalism" has played in the country's development, what model of corporate organisation is emerging? The first section describes the history and the role of the Brazilian public enterprise sector. The second section sets out the policy, legal and operational framework in which privatisations were implemented, compares its features with those prevailing in other countries, and provides an updated account of state sell-offs. The following two sections analyse the consequences in terms of corporate governance and regulatory reform.