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The structure-conduct-performance paradigm (SCP) was developed by Micheal Porter who took refuge in the Harvard Business School. SCP was developed from a survey by F.M. Scherer and sees industry and market structures as determined by supply and demand. Performance and conduct are affected by structure, according to SCP. Meanwhile Harvard economics has developed a new focus and its interests include a focus on why markets may not function efficiently.

Significant market changes which have taken place since the 1970s have led to the provision of many goods and services being taken away from government. This has prompted a large reduction in the size of government regarded as necessary. However, government now has a new responsibility to ensure that market structures operate efficiently and fairly. It is common for this responsibility to go beyond the essential government obligations of regulation and imposing trading standards.

Markets do not always work smoothly. French cars are selling in the UK at prices that do not take into account the rise in the value of pound sterling, since car companies seek to eliminate the impact of currency changes. The UK residential housing market does not respond rapidly to a shortage of supply, partly because of restrictions in the amount that buyers can borrower, and because surveyors' estimates do not keep pace with the market. When supply exceeds demand, house prices do not drop rapidly enough and a glut is created. Stock prices are more volatile.

Political and economic issues concerning the markets in Brazil and Venezuela are examined. Topics include expectations for Brazil's deficit to rise, Brazil's debt upgrade, expansion of Brazilian industry, and the selection of former US Ambassador to Venezuela, John Maisto, as the top advisor on Latin America for the administration of Pres George W Bush.

MONDAY Latin American stocks advanced, helped by gains in the U.S. and optimism that declining oil prices will further reduce inflationary pressures. Mexico, Brazil and Argentina all posted gains. TUESDAY [...]

WATCH FOR A recovery on prompt basis * Zeebrugge-NBP basis markets fell across the board, led by the prompt. An unprecedented September turnaround on the direction of flow on the [...]

'What is the market? It is the law of the jungle, the law of nature. And what is civilisation? It is the struggle against nature.' So argued former French prime [...]

By June this year the amount of money managed as mutual fund totaled Rp17.8 trillion. The amount shot up to Rp24.5 trillion in the next month. Investment in mutual fund [...]

As of December 1982 United States multinational corporations have been required to implement FASB No. 52, covering foreign exchange transactions. Although it is still too early to make a formal survey based on statistics, a sample of twenty-seven corporations were contacted to determine how the ruling has affected hedging on foreign exchange transactions. Nearly all companies contacted reported that forwards had declined significantly since implementation of the rule. Available statistics tend to support this finding.