Suchergebnisse

Bei traditionellen Definitionen von Merkantilismus steht die protektionistische Handelspolitik im Mittelpunkt. Eine allgemeinere Definition, der die Keynesianische und Post-Keynesianische Literatur zugrunde liegt, umfaßt makroökonomische, monetäre und Handelskomponenten des Merkantilismus. Handelspolitik ist weder eine notwendige noch ausreichende Bedingung für internationale Stabilität. Die Auswirkungen merkantilistischer Politik sind andere in einem hegemonistischen als in einem interdependent, oligopolistischen System. Schließlich liefert die Interaktion von Merkantilismus und internationalem System den Rahmen für die Bewertung der US-Dollarentwicklung in letzter Zeit. (SWP-Bmt)

In a recent paper, Barry Buzan disputes the widespread theory that associates a liberal international economic structure positively, and a mercantilist structure negatively, with international security. We do not take issue with Buzan's arguments on this point; rather we disagree with some of his assumptions concerning the relationship between mercantilistic policies and the international economic order. Those of Buzan's points that we question represent generally accepted views in the literature on mercantilismBuzan's definition of mercantilism focuses essentially if not exclusively on protectionist trade policies. We prefer a more general definition based on Keynesian and post-Keynesian literature. By including the macroeconomic goals of neomercantilism, this definition accounts for a country's foreign economic policy.

A Brookings Institution Press and the European Community Studies Association publication The European economic and monetary union has changed the structure of international monetary relations fundamentally. In this book two experts--one European, the other American--offer transatlantic perspectives on the ramifications of the monetary union and the launch of the euro. C. Randall Henning examines selected American views on Europe's monetary union, and looks at the political, economic, and institutional interests of the United States as they are affected by the creation of the euro. He examines the external monetary policymaking machinery of the union and discusses the relationship of the monetary union to international institutions, particularly the meetings of the G-7 finance ministers and central bank governors and the International Monetary Fund. Henning is generally sympathetic to European integration, supportive of the monetary union, and persuaded of the importance of international cooperation. Pier Carlo Padoan presents a European view of the role of the euro in the international system. He looks at the euro as a potential global currency and examines the transition phase between a regional currency and a global currency. Central to this is an analysis of the appropriate exchange rate policy for the euro. He also considers euro-dollar relations and the prospects for transatlantic cooperation. C. Randall Henning is a professor at The American University and a senior fellow at the Institute for International Economics. Pier Carlo Padoan is a professor at the University of Rome and the College of Europe.

AbstractAfter the fall of the Bretton Woods system, the EU initiated an original path towards monetary integration which led to the establishment of the European monetary system (EMS) in the 1980s and the economic monetary union (EMU) in the 1990s. This path was an alternative to the floating exchange rate regime which many other countries decided to follow. Adopting a political economy approach, in this paper we reconstruct the main phases of this process, from the 1970s up until today, arguing that they cannot be explained only in terms of costs and benefits of alternative exchange rate configuration, but should consider political as well as economic factors—both domestic and international ones—and the interaction between European monetary and real integration. Ultimately, the predominance of political factors led to an underestimation of the economic difficulties generated by the coexistence of irrevocable exchange rates and full capital mobility. We suggest that new policy instruments and institutional changes are needed to make the common currency workable in the long run. The mandatory path should be towards a more deeply integrated Europe. Such integration is essential to enable the European monetary union to confront with future challenges.

In this, his final book, Gavin Boyd has brought together a distinguished group of experts on the nature and extent of transatlantic policy coordination and its implication for corporate strategy. This remarkably relevant set of papers offer a discussion on the economic and financial linkage between Europe and North America, as well as the trade and investment rules governing this interaction

The Structural Foundations of International Finance examines the ways in which national economies, especially those of industrialized countries, are affected by the operations of international financial markets. Although these markets provide productive funding, there is also much speculative trading in stocks and currencies which can cause booms, slumps and hinder recovery. The authors advocate entrepreneurial coordination by productive enterprises for balanced and stable growth, with reduced risks of financial crises and recessions