Всего публикаций в данном разделе: 2
Опубликовано на портале: 26-08-2007Grazia Ietto-Gillies
Изд-во: Edward Elgar, 2005, 240 с.
This unique textbook provides a comprehensive critical analysis of modern theories, concepts and effects relating to transnational corporations and international production. Its user-friendly presentation includes boxes to highlight key concepts as well as suggestions for further reading. The text begins with a clear and concise discussion of basic concepts, and goes on to examine various theoretical approaches, topics and authors including:. Hymer, Vernon, Knickerbocker, Aliber, Dunning, Cantwell, Cowling and Sugden. the Internalisation Theory, the Scandinavian School, and the New Trade Theory approaches. Pre-WWII Marxist and neoclassical approaches to international investment. Finally, Grazia Ietto-Gillies deals with methodological issues in the assessment of effects as well as with specific effects on performance, labour, international trade and the balance of payments. Bringing together wide-ranging research literature on TNCs for the first time, this textbook will be invaluable to post graduate and advance undergraduate students of a variety of disciplines including business/international business, economics, international relations, and development studies. Lecturers and researchers wishing to familiarize themselves with the theoretical developments of the subject will also find the book of enormous interest.
Опубликовано на портале: 27-04-2004Takatoshi Ito
This paper examines Japanese foreign exchanges interventions from April 1991 to March 2001 based on newly disclosed official data. All the yen-selling (dollar-purchasing) interventions were carried out when the yen/dollar rate was below 125, while all the yen-purchasing (dollar-selling) interventions were carried out when the yen/dollar was above 125. The Japanese monetary authorities, by buying the dollar low and selling it high, have produced large profits, in terms of realized capital gains, unrealized capital gains, and carrying (interest rate differential) profits, from interventions during the ten years. Profits amounted to 9 trillion yen (2% of GDP) in 10 years. Interventions are found to be effective in the second half of the 1990s, when daily yen/dollar exchange rate changes were regressed on various factors including interventions. The US interventions in the 1990s were always accompanied by the Japanese interventions. The joint interventions were found to be 20-50 times more effective than the Japanese unilateral interventions. Japanese interventions were found to be prompted by rapid changes in the yen/dollar rate and the deviation from the long-run mean (say, 125 yen). The interventions in the second half were less predictable than the first half.