Search

This book focuses on the Frobenius theorem regarding a nonlinear simultaneous system. The Frobenius theorem is well known as a condition for a linear simultaneous system's having a nonnegative solution. Generally, however, the condition of a simultaneous system, including a non-linear system's having a nonnegative solution, is hardly discussed at all. This book, therefore, extends the conventional Frobenius theorem for nonlinear simultaneous systems for economic analysis. Almost all static optimization problems in economics involve nonlinear programing. Theoretical models in economics are described in the form of a simultaneous system resulting from the rational optimization behavior of households and enterprises. On the other hand, rational optimization behavior of households and enterprises is, mathematically speaking, expressed as nonlinear programing. For this reason it is important to understand the meaning of nonlinear programing. Because this book includes explanations of the relations among various restrictions in a nonlinear programing systematically and clearly, this book is suitable for students in graduate school programs in economics.

This book provides readers with an analysis of econometric methods using statistical information to examine actual aspects of Japan's regional economy. Beginning with ways of ascertaining the economy of a region's production factors, the book describes methods for creating new data using various regional statistical data that link regions within prefectures.The topics addressed here are some of the most pressing issues in Japan's regional economy. These include economic ripple effects due to social capital and public investment, economic evaluation of the environment for sustainable growth, the impacts of overtourism congestion phenomenon, and the measurement of the total fertility rate of female employees in industry.The book provides a way to comprehend the actual conditions of Japan's regions and the level of regional economic sectoral effects and regional externalities—an analytical method to obtain the information required for policy making. Combining socially related fields on a wide range of issues in Japan's regional economy, the detailed studies are aimed especially at researchers and policymakers working on econometric analysis research based on economic theory.

The climate is changing, bringing with it increasing natural disasters around the world. The progress of societies lies in their ability to adapt to the new climatic conditions. Effective climate-adaptation strategies must be based in the sound analysis of the costs of the disasters, as well as the potential benefits and beneficiaries of adaptation strategies. This book offers an appraisal method to capture the total economic costs of flooding events: the Multiregional Flood Footprint Analysis. It captures the economic costs directly caused by physical destruction, and disruptive implications in production propagated through inter-industrial linkages in the current context of a global economy. The proposed method uses the fundamentals of the Input-Output analysis (IOA) in a multiregional dimension. It concludes that damages from natural disasters in one part of the globe may affect many economic sectors in the rest of the world, increasing the need for global adaptation strategies.

Dieses Buch untersucht, warum österreichische Ökonomen es versäumen, den Rahmen der spontanen Ordnung auf kooperative Beziehungen – wie einen dynamischen und sich entwickelnden öffentlichen Sektor – anzuwenden, die einen florierenden Markt ergänzen könnten. Als direkte Antwort auf Israel Kirzners'The Driving Force of the Market'stellt sie die traditionelle österreichische Wirtschaftswissenschaft infrage, indem sie die demokratische Prozesstheorie als Parallele zur Marktprozesstheorie vorschlägt und die Möglichkeiten einer Wirtschaftsorganisation aufzeigt, die sich die Kraft einer transparenten und effektiven Demokratie zunutze macht. Unter Berücksichtigung der zentralen Probleme, die in sozialistischen und kapitalistischen Ländern aufgrund eigennütziger politischer und wirtschaftlicher Akteure aufgetreten sind, hebt'Die treibende Kraft des Kollektivs'die Vorteile des öffentlichen Sektors hervor, die sich daraus ergeben, dass sich Kultur und Institutionen endogen als spontane Ordnung des öffentlichen Sektors entwickeln können

Human capital is of utmost importance for the future of our knowledge economies and societies. However, it is unequally distributed in Europe, contributing to marked spatial patterns of economic prosperity within and across countries. In many cases, these patterns have a long history. To understand them better, it requires to go back in time, when mass schooling was starting to become a reality across Europe. Taking a long-run perspective over more than 150 years, this book shows the development and the distribution of human capital in the regions of Europe and its connections with the economy. It provides insights into recent research findings in this area, including theoretical advances and the use of new empirical data.

In urban analytics, ‘crowding'implies the spatiotemporal distributional unevenness of people's stays and flows in middle-scale urban spaces, and has since become an emerging keyword, attracting not only practical interests but also research interests, especially in the current IoT devised downtown. This book presents a collection of papers on a series of exploratory studies on the rise and fall of downtowns (Downtown Dynamics), which the author's group has been working on with the aim of constructing an artificial society that contributes to the planning and management of crowds by developing Agent-Based Social Simulation (ABSS). In particular, the book includes (1) an analysis of 20 years'worth of survey data on visitors'shopping-around behavior for Osu district in Nagoya city, as a representative Japanese downtown, (2) correlation analyses of spatial distributions between Visibility Graph Analysis (VGA) as a “visibility index” and crowding in middle scale urban spaces, (3) agent modeling of visitors'shopping-around behavior and construction of the Downtown Dynamics Model as an artificial society, and (4) modeling of the vision-driven agent as a “crowd generator” and its applicability to spatial design and sign layout in urban spaces. The book also includes a novel research program derived from complexity system science that provides new approaches to Agent-Based Modeling (ABM), social simulation, regional sciences, geo-informatics, and urban planning studies for researchers and graduate students, as well as planning scientists and practitioners such as town managers and planners who are concerned with downtown revitalization.

The book illustrates the use of spatial econometric models to analyze the economic resilience of regions to climate-related shocks. Although climate change is a global externality, climate anomalies can trigger locally disruptive shocks, whose adverse effects on economic growth are transmitted through neighbouring relationships (based on geography, trade, or technological bonds). After laying out the theoretical case for spatial analysis in the study of economic resilience, the book introduces spatial econometric models, their estimation and testing procedures, as well as applications of spatial econometrics in various domains. It then reviews the current literature on the role of space in the propagation of climate shocks, and discusses how adaptation and mitigation policies can leverage spatial dependencies, with a special focus on renewable energy technologies and agricultural productivity. It appeals to scholars of regional and spatial sciencesand econometrics as well as those interested in the spatial effects of climate and environmental shocks.

This monograph deals with spatially dependent nonstationary time series in a way accessible to both time series econometricians wanting to understand spatial econometics, and spatial econometricians lacking a grounding in time series analysis. After charting key concepts in both time series and spatial econometrics, the book discusses how the spatial connectivity matrix can be estimated using spatial panel data instead of assuming it to be exogenously fixed. This is followed by a discussion of spatial nonstationarity in spatial cross-section data, and a full exposition of non-stationarity in both single and multi-equation contexts, including the estimation and simulation of spatial vector autoregression (VAR) models and spatial error correction (ECM) models. The book reviews the literature on panel unit root tests and panel cointegration tests for spatially independent data, and for data that are strongly spatially dependent. It provides for the first time critical valuesfor panel unit root tests and panel cointegration tests when the spatial panel data are weakly or spatially dependent. The volume concludes with a discussion of incorporating strong and weak spatial dependence in non-stationary panel data models. All discussions are accompanied by empirical testing based on a spatial panel data of house prices in Israel.

This book explores the US economy from 1960 to 2010 using a more Keynsian, Cowles model approach, which the author argues has substantial advantages over the vector autoregression (VAR) and dynamic stochastic general equilibrium (DSGE) models used almost exclusively today. Heim presents a robust argument in favor of the Cowles model as an answer to the pressing, unresolved methodological question of how to accurately model the macroeconomy so that policymakers can reliably use these models to assist their decision making. Thirty-eight behavioral equations, describing determinants of variables such as consumption, taxes, and government spending, are connected by eighteen identities to construct a comprehensive model of the real US economy that Heim then tests across four different time periods to ensure that results are consistent. This comprehensive demonstration of the value of a long-ignored model provides overwhelming evidence that the more Keynesian (Cowles) structural models outperform VAR and DSGE, and therefore should be the models of choice in future macroeconomic studies.

This is the second volume in a two-part series on frontiers in regional research. It identifies methodological advances as well as trends and future developments in regional systems modelling and open science. Building on recent methodological and modelling advances, as well as on extensive policy-analysis experience, top international regional scientists identify and evaluate emerging new conceptual and methodological trends and directions in regional research. Topics such as dynamic interindustry modelling, computable general equilibrium models, exploratory spatial data analysis, geographic information science, spatial econometrics and other advanced methods are the central focus of this book. The volume provides insights into the latest developments in object orientation, open source, and workflow systems, all in support of open science. It will appeal to a wide readership, from regional scientists and economists to geographers, quantitatively oriented regional planners and other related disciplines. It offers a source of relevant information for academic researchers and policy analysts in government, and is also suitable for advanced teaching courses on regional and spatial science, economics and political science.

This book discusses the evolution of ideas about the desirable combination of planning and market in the former Soviet Union, Poland, Czechoslovakia and Hungary since the 1960s, when major economic reforms started, up to 1991 when the countries have been engaged in a transformation of their economies into market economies. It also discusses the common and contrasting features of the debates which evolved in the countries under review.

Since the early 1970s the Italian economy has been moving towards an irreversible real and financial crisis. Paradoxically, the conditions engendered by the currency crisis and recession may also provide the basis for a new economic policy strategy, which could lead to built a mere'economic miracle!'

Creating a Eurasian Union offers a detailed analysis of the economies of the Customs Union of Russia, Belarus, and Kazakhstan and the proposed Eurasian Union. The authors employ econometric analysis of business cycles and cointegration analysis to prove the fragility of the union's potential economic success. By providing a brief description of the economic integration of the former Soviet republics, this pioneering work analyses the on-going trial and error processes of market integration led by Russia. Vymyatnina and Antonova's distinctive argument is the first consistent analysis of the emerging Eurasian Union. They incorporate both a non-technical summary of the integration process and previous research and analytical comments, as well as a thorough empirical analysis of the real data on the economic development of the participating countries, to caution that the speed of integration might undermine the feasibility of the Eurasian Union.

The present study is a preliminary draft on nonlinear economic dynamics, with which the author has been concerned the last years. It grew out from the joint work by Professor Martin Beckmann and the present author on nonlinear statics in spatial economics, Beckmann and Puu,'Spatial Economics'(North-Holland 1985). The monograph mentioned contains sections on price waves and business cycles, but in a linear format. The rest is static theory. The author has finally come to the conviction that linear dynamic modelling has very little to yield. This is due to the poor set of alternatives -decay or explosion of motion -pertinent to linear models. Therefore, the pr~sent work centres on non-linearity. Another distinction is that only purely causal models are dealt with, as those formatted as inter-temporal equilibria hardly belong to the more restricted field of dynamics. The spatial origin is visible in the choice of models. Chapter 2 summarizes the work by the author on the stmctural stability of continuous spatial market equilibrium models. Chapter 3 deals with a re-formulation of the ingenious population growth and diffusion model invented by the young Hotelling in 1921. Chapter 4 is a detailed digression on business cycle models in a continuous spatial format with interregional trade.

The purpose of models is not to fit the data but to sharpen the questions. S. Karlin, 11th R. A. Fisher Memorial Lecture, Royal Society, 20 April 1983 We are proud to offer this volume in honour of the remarkable career of the Father of Spatial Econometrics, Professor Jean Paelinck, presently of the Tinbergen Institute, Rotterdam. Not one to model solely for the sake of modelling, the above quotation nicely captures Professor Paelinck's unceasing quest for the best question for which an answer is needed. His FLEUR model has sharpened many spatial economics and spatial econometrics questions! Jean Paelinck, arguably, is the founder of modem spatial econometrics, penning the seminal introductory monograph on this topic, Spatial Econometrics, with Klaassen in 1979. In the General Address to the Dutch Statistical Association, on May 2, 1974, in Tilburg,'he coined the term [spatial econometrics] to designate a growing body of the regional science literature that dealt primarily with estimation and testing problems encountered in the implementation of multiregional econometric models'(Anselin, 1988, p. 7); he already had introduced this idea in his introductory report to the 1966 Annual Meeting of the Association de Science Regionale de Langue Fran~aise.

In this book the reader is provided with an overview of the most interesting ideas in Competitive General Equilibrium Theory as well as Welfare Economy. In doing so, the author adopts a methodological approach of a closed and inter-related system where all variables are simultaneously determined. By using theorems of fixed point, revealed preference and local and global stability, the author proves the existence of unicity and stability. Furthermore, he analyses those situations where the competitive system does not allocate resources efficiently. In this sense, he examines allocation problems in regard to property rights, information problems and choice and negotiation problems. Finally, the text includes a chapter that presents a topical guide of questions related to Social Choice.

Anschaulich und umfassend wird eine momentan vieldiskutierte Frage behandelt: Wachsen ärmere Länder und Regionen schneller als reiche, so daß sich die Lücke in den Einkommen über die Zeit schließt? Im Rahmen verschiedener wachstumstheoretischer und empirischer Ansätze werden hierzu Konzepte entwickelt. Als mögliche Quellen der Konvergenz beleuchtet der Autor insbesondere die Rolle der Kapitalakkumulation, die Diffusion technologischen Wissens, Veränderungen der Wirtschaftsstruktur sowie interregionale Transfers. Ausführlich kommentierte Graphiken und Zusammenfassungen jedes Kapitels tragen zur Lesefreundlichkeit dieses Buchs bei.

The present book relies on various editions of my earlier book'Nonlinear Economic Dynamics', first published in 1989 in the Springer series'Lecture Notes in Economics and Mathematical Systems', and republished in three more, successively revised and expanded editions, as a Springer monograph, in 1991, 1993, and 1997, and in a Russian translation as'Nelineynaia Economicheskaia Dinamica'. The first three editions were focused on applications. The last was differ­ ent, as it also included some chapters with mathematical background mate­ rial -ordinary differential equations and iterated maps -so as to make the book self-contained and suitable as a textbook for economics students of dynamical systems. To the same pedagogical purpose, the number of illus­ trations were expanded. The book published in 2000, with the title'A ttractors, Bifurcations, and Chaos -Nonlinear Phenomena in Economics', was so much changed, that the author felt it reasonable to give it a new title. There were two new math­ ematics chapters -on partial differential equations, and on bifurcations and catastrophe theory -thus making the mathematical background material fairly complete. The author is happy that this new book did rather well, but he preferred to rewrite it, rather than having just a new print run. Material, stemming from the first versions, was more than ten years old, while nonlinear dynamics has been a fast developing field, so some analyses looked rather old-fashioned and pedestrian. The necessary revision turned out to be rather substantial.

Looking into the future and trying to visualize long-run regional disparities is difficult. There is no agreed single theory to guide our model building, although some insight can be gained from analysisofthe past and by looking at the differ­ ent theoretical positions to see if there is any agreement at least in terms of out­ come ifnot in terms of mechanism. This is what is attempted in this book, which brings together specialists with a common interest in European regional growth and in applying quantitative analytical and simulation techniques in order to pro­ vide different perspectives on the topic. Manyofthe Chapters in the book employ the methods of spatial econometrics. Spatial econometrics is a suite of statistical and econometric tools dedicated to the analysisofspatial data, in other words data that is set within the context of socio-econornic theories and which can be repre­ sented most informatively in mapped form. These methods have emerged over the last half-century from aseries of influential papers and books in the fields of re­ gional science, spatial statistics and quantitative geography, and are ripe for seri­ ous application in the context of the EU's development. In particular they provide the means by which to analyze spatially indexed data where the time dimension is essentially suppressed because, for instance the variables of interest are not avail­ able or are of questionable accuracy, which is often the case when one is inter­ ested in regional, rather than national, variations across a numberofcountries.

The volume on New Directions in Spatial Econometrics appeared in 1995 as one of the first in the then new Springer series on Advances in Spatial Sciences. It very quickly became evident that the book satisfied a pent up demand for a collection of advanced papers dealing with the methodology and application of spatial economet­ rics. This emerging subfield of applied econometrics focuses on the incorporation of location and spatial interaction in the specification, estimation and diagnostic testing of regression models. The current effort is a follow up to the New Directions volume. Even though the number of empirical and theoretical journal articles dealing with various as­ pects of spatial econometrics has grown tremendously in the recent past, the need remained to bring together an advanced collection on methodology, tools and appli­ cations. This volume contains several papers that were presented at special sessions on spatial econometrics organized as part of a number of conferences of the Re­ gional Science Association International. In addition, a few papers were invited for submission. All papers were refereed. The focus in the volume reflects the advances made in the field in recent years.

This book was first pUblished in 1989 as volume 336 in the Springer series'Lecture Notes in Economics and Mathematical Systems', and it reappeared in a 2nd edition as a Springer monograph in 1991. After considerable revisions it appeared in a 3rd edition in 1993. The origin, still visible in the 3rd edition, was the joint work of the author with Professor Martin J. Beckmann, documented in two co-authored mono­ graphs'Spatial Economics'(North-Holland 1985), and'Spatial Structures'(Springer-Verlag 1990). Essential dynamics had, however, been almost com­ pletely lacking in these works, and the urge to focus the dynamic issues was great. To fill this particular gap was the aim of the previous editions, and so the spatial aspect provided core and focus. In the present edition a substantial quantity of spatial issues have been removed: All those that were dynamic only in the sense that structures were characterized which were structurally stable, or robust in a changing world. The removed material has meanwhile been published as a separate mono­ graph under the title'Mathematical Location and Land Use Theory'(Springer-Verlag 1996).

Over more than two centuries the development of economic theory has created a wide array of different theories, concepts and results. Nevertheless, there is no general theory, which mrifies these varied theories into a comprehensive one. Economics has been split between partial and conflicting representations of the functioning of market economies. We have a collection of separate theories such as the Marxian economics, the Keynesian economics, the general equilibrium theory, and the neoclassical growth theory. These diverse economic theories have co-existed but not in a structured relationship with each other. Economic students are trained to understand economic phenomena by severally incompatible theories one by one in the same course. Since the end of Second Wodd War many crises in economic theory have been announced. The economist experienced the crisis of the general equilibrium economics, the crisis of the neoclassical growth economics, the crisis of the Keynesian economics, not to mention the crises of the Marxian economics. It is quite reasonable to expect the loss of confidence in theoretical economics even among professional economists after so many crises in a very short period of time. But a crisis offers new opportmrities for change, either for better or for worse. The past crises in theoretical economics may be perceived as a historical opportmrity to construct a general economic theory by which the traditional theories are integrated into a higher whole.

Over more than two centuries the developmentofeconomic theory has created a wide array of different concepts, theories, and insights. My recent books, Capital and Knowledge (Zhang, 1999) and A TheoryofInternational Trade (Zhang, 2000) show how separate economic theories such as the Marxian economics, the Keynesian economics, the general equilibrium theory, the neoclassical growth theory, and the neoclassical trade theory can be examined within a single theoretical framework. This book isto further expand the frameworkproposed in the previous studies. This book is a part of my economic theory with endogenous population, capital, knowledge, preferences, sexual division of labor and consumption, institutions, economic structures and exchange values over time and space (Zhang, 1996a). As an extension of the Capital and Knowledge, which is focused on the dynamics of national economies, this book is to construct a theory of urban economies. We are concerned with dynamic relations between division of labor, division ofconsumption and determination of prices structure over space. We examine dynamic interdependence between capital accumulation, knowledge creation and utilization, economicgrowth, price structuresand urban pattern formation under free competition. The theory is constructed on the basisofa few concepts within a compact framework. The comparative advantage of our theory is that in providing rich insights into complex of spatial economies it uses only a few concepts and simplified functional forms and accepts a few assumptions about behavior of consumers, producers, and institutionalstructures.

This is the first book to explain the expansion of multinational enterprises (MNEs) into a transition economy from a technology accumulation perspective. The author provides a theoretical alternative to accepted wisdom regarding technology transfer, and discusses the policy implications of this new approach for economic development.

Migration, commuting, and tourism are prominent phenomena demonstrating the political and economic relevance of the spatial choice behavior of households. The identification of the determinants and effects of the households'location choice is necessary for both entrepreneurial and policy planners who attempt to predict (or regulate) the future demand for location-specific commodities, such as infrastructure, land, or housing, and the supply of labor. Microeconomic studies of the spatial behavior of individuals have typically focused upon the demand for a single, homogeneous, yet location-specific com­ 2 modity (such as land! or housing) or their supply of labor3 and investigated the formation of location-specific prices and wages in the presence of transportation and migration costs or analyzed the individual-and location-specific character­ istics triggering spatial rather than quantitative or temporal adjustments. In contrast to many theoretical analyses, empirical studies of the causes or con­ sequences of individual demand for location-specific commodities have often considered several'brands'of a heterogeneous good that are offered at various locations, are perfect substitutes, and may be produced by varying production 4 technologies. lCf. Alonso (1964) 2Cf. Muth (1969). 3Cf. Sjaastad (1962) and Greenwood (1975).

In macro-econometrics more attention needs to be paid to the relationships among deterministic trends of different variables, or co-trending, especially when economic growth is of concern. The number of relationships, i.e., the co-trending rank, plays an important role in evaluating the veracity of propositions, particularly relating to the Japanese economic growth in view of the structural changes involved within it. This book demonstrates how to determine the co-trending rank from a given set of time series data for different variables. At the same time, the method determines how many of the co-trending relations also represent cointegrations. This enables us to perform statistical inference on the parameters of relations among the deterministic trends. Co-trending is an important contribution to the fields of econometric methods, macroeconomics, and time series analyses.

In March 1998 the European Union formally launched the accession process that will lead to a significant enlargement of the Union. So far ten countries from Central Europe: Bulgaria, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, the Slovak Republic and Slovenia have submitted their applications for EU membership. This unique process immediately attracted attention of economists and policy makers. Nevertheless, it can be noticed that among numerous results already published, there is a distinctive shortage of books and papers in which quantitative research methods are applied. This is to a large extent justified by the fact that the transition and accession processes are new to the economic sciences, their methodology is not wellresearched, statistical data for the Central and East European countries are scarce and not always reliable and, generally, quantitative approach seems to be a risky and uncertain business. All these all problems can also be seen as a challenge rather than an obstacle. With this on mind, we have decided to clarify the status quo by organising a research seminar which focused on the methodology and quantitative analysis of the Central and East European transition and pre-accession processes. The seminar, East European Transition and EU Enlargement: a Quantitative Approach organised by Macroeconomic and Financial Data Centre (University of Gdansk and University ofLeicester) took place in Gdansk in June 2001. Our edited volume contains papers developed from this seminar.

This volume contains the proceedings of the international conference'Complexity and Industrial Clusters: Dynamics and Models in Theory and Practice', organized by Fondazione Comunita e Innovazione and held in Milan on June 19 and 20, 2001 under the aegis of the Accademia Nazionale dei Lincei (founded in Rome in 1604), one of the oldest and most famous national academies of science in the world. Fondazione Comunita e Innovazione encourages research and the dissemination of knowledge about social, economic, cultural and civil issues. It promotes research and innovation related to local production systems and industrial districts, with special reference to: the interactions between large companies and SMEs (small and medium-size enterprises), the effects of industrial districts on the development and welfare of their communities and of neighbouring areas, the effects of globalisation on these local systems of productions. Fondazione Comunita e Innovazione was created in Milan in 1999. It supports studies, publications, and events, both on its own and in cooperation with corporations, research institutes, foundations, associations and universities. It also grants scientific sponsorship to research that is in line with its mission, as set forth in its by-laws. The founding member of the Fondazione is Edison (formerly Monted:son). The other subscribing members, in historical order, are: Ausimont, Tecnimont, Eridania, Accenture, and PricewaterhouseCoopers.

4 UNIVERSITY RESEARCH AND THE SPATIAL DISTRIBUTION OF HIGH TECHNOLOGY INNOVATIONS AND PRIVATE RESEARCH........ 45 4. 1. INTRODUCTION.............................................................................................. 45 4. 2. THE INNOVATION, PRIVATE RESEARCH AND UNIVERSITY RESEARCH DATA.... 46 4. 3. THE SPATIAL DISTRIBUTION OF HIGH TECHNOLOGY INNOVATIONS................ 50 4. 4. THE SPATIAL DISTRIBUTION OF HIGH TECHNOLOGY R&D ACTIVITIES........... 55 4. 5. THE SPATIAL DISTRIBUTION OF HIGH TECHNOLOGY UNIVERSITY RESEARCH AND ITS RELATION TO INNOVATIONS AND INDUSTRIAL RESEARCH........................ 58 4. 6. SUMMARy...................................................................................................... 63 5 LOCAL KNOWLEDGE TRANSFERS: STATE LEVEL ANALYSIS......... 67 5. 1. INTRODUCTION.............................................................................................. 67 5. 2. STATE ANALYSIS AND LOCAL KNOWLEDGE TRANSFERS: SUMMARY OF EARLIER FINDINGS............................................................................................................... 68 5. 3. ALTERNATIVE INDICATORS OF LOCAL UNIVERSITY KNOWLEDGE TRANSFERS 72 EMPIRICAL RESULT........................................................................................ 74 5. 4. 5. 5. SUMMARy...................................................................................................... 78 6 THE SPATIAL EXTENT OF UNIVERSITY EFFECTS: MSA LEVEL ANALySIS............................................................................................................. 81 6. 1. INTRODUCTION.............................................................................................. 81 6. 2. THE MODEL.................................................................................................... 82 6. 2. ESTIMATION ISSUES....................................................................................... 89 6. 3. EMPIRICAL RESULTS...................................................................................... 90 6. 4. SUMMARy...................................................................................................... 97 7 FACTORS GOVERNING UNIVERSITY EFFECTS................................... 101 7. 1. INTRODUCTION............................................................................................ 101 7. 2. THE EMPIRICAL MODEL................................................................................ 102 7. 3. REGRESSION RESULTS............................

Drawing on the middle chapters from the first edition of J. Barkley Rosser's seminal work, From Catastrophe to Chaos, this book presents an unusual perspective on economics and economic analysis. Current economic theory largely depends upon assuming that the world is fundamentally continuous. However, an increasing amount of economic research has been done using approaches that allow for discontinuities such as catastrophe theory, chaos theory, synergetics, and fractal geometry. The spread of such approaches across a variety of disciplines of thought has constituted a virtual intellectual revolution in recent years. This book reviews the applications of these approaches in various subdisciplines of economics and draws upon past economic thinkers to develop an integrated view of economics as a whole from the perspective of inherent discontinuity.

This book examines the pattern of growth of the Spanish economy in the last few decades, and studies the causes of its labour productivity, and the special features characterising business cycles in Spain.

In recent years the so-called new economic geography and the issue of regional economic convergence have increasingly drawn the interest of economists to the empirical analysis of regional and spatial data. However, even if the methodology for econometric treatment of spatial data is well developed, there does not exist a textbook theoretically grounded, well motivated and easily accessible to eco- mists who are not specialists. Spatial econometric techniques receive little or no attention in the major econometric textbooks. Very occasionally the standard econometric textbooks devote a few paragraphs to the subject, but most of them simply ignore the subject. On the other hand spatial econometric books (such as Anselin, 1988 or Anselin, Florax and Rey, 2004) provide comprehensive and - haustive treatments of the topic, but are not always easily accessible for people whose main degree is not in quantitative economics or statistics. This book aims at bridging the gap between economic theory and spatial stat- tical methods. It starts by strongly motivating the reader towards the problem with examples based on real data, then provides a rigorous treatment, founded on s- chastic fields theory, of the basic spatial linear model, and finally discusses the simpler cases of violation of the classical regression assumptions that occur when dealing with spatial data.

Korea, one of the original'Tiger Economies', experiences a traumatic and largely unanticipated economic crisis in 1997-98 from which the country is still recovering. Despite having achieved spectacular economic advances from the early 1960s, the crisis laid bare numerous structural, economic and policy weaknesses. Charles Harvie and Hyun-Hoon Lee chronicle and analyze the key factors behind Korea's economic miracle from 1962-1989 and the causes that contributed to the economic downturn and ensuing crisis of 1997-98. Is the Korean economy still fading or is its revival underway? As the country undertakes a series of recovery measures, the authors consider the importance of the ongoing restructuring efforts in the corporate and banking sectors, the development of the'new economy; and the potential economic advantages to be derived from reunification with the North.

The author discusses the traditional system of management of the economy as it existed in the early 1950s in the USSR and goes on to deal with the reforms of the 1960s and of the 1980s, country by country. He shows that the focus of the reforms is on finding a proper combination of planning and the market mechanism, and their success will be judged by their ability to solve acute economic problems.

The reform ideas originated in Eastern Europe, and the results of reform experiments there, as well as in China and the USSR, can now be compared and evaluated. The essays in this important volume aim to accomplish this task. The authors are economists as well as political scientists, of whom several are prominent reform theorists from the socialist countries themselves. In this book the authors analyse policy debates, reform proposals and factors influencing the scope of the reforms; assess the economic and social effects, actual or potential, of the reforms in China and Eastern Europe, and the proposed reforms in the USSR; and interpret recent developments in socialist-oriented developing countries.

This analysis proposes a political explanation for the breakdown of Keynesian full employment in Australia. It taps into the current literature that examines the role of economic interests, ideas, and institutions, and, by taking issue with the arguments of anti-Keynesian economists, the book carries the argument that there was and is nothing inherently contradictory about Keynesian theory or much of its practice. Keynesianism, its imperfections notwithstanding, was overturned because of a powerful alliance of interests and ideas.

Privatising firms and liberalizing their market environment generates in Eastern Europe a variety of problems, many of which are not common to the analogous attempts in industries countries. A first difference between the two experiences resides in establishing the value of the firm or of the assets that are being privatized. A second main difference concerns the lack of the record of market performance for the firm. The book explores these open questions through an overview of on-going and proposed processes in Section 1. In Section 2 theoretical foundations of privatization processes are proposed with respect to the financial market, industrial relations and foreign trade. A final key question is faced in Section 3:'is there any alternative to privatization?'