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Showing papers on "Internationalization published in 1987"


Book
01 Dec 1987
TL;DR: In this article, the authors identify and take up an important problem in international economics -the split in theoretical and empirical work in international finance and in internatiopal trade, and they attempt to link these two aspects of the international economy together.
Abstract: The contributions in this book identify and take up an important problem in international economics - the split in theoretical and empirical work in international finance and in internatiopal trade. This book is unique in attempting to link these two aspects of the international economy together.The eight chapters explore the way exchange rates and international capital movements interact with industrial structure, comparative advantage, and sectoral wage patterns, focusing on results that are valuable to both real and financial analysis in open economies. The principal sources of real-financial linkage discussed throughout the book are structural and intertemporal. In an introductory section, the editors provide an overview of real-financial linkages among open economies and Alan Stockman discusses interactions between goods markets and asset markets. The section on structural sources of real-financial linkages includes chapters by Paul Krugman on pricing to market when the exchange rate changes, Richard Marston on real exchange rates and sectoral productivity growth in the United States and Japan, and Irving Kravis and Robert Lipsey on the assessment of national price levels. A final section on intertemporal sources of real-financial linkages presents an empirical investigation by Michael Hutchison and Charles Pigott into real and financial linkages in the macroeconomic response to budget deficits, and work by Koichi Hamada and Akiyoshi Horiuchi on monetary, financial, and real effects of Yen internationalization. Paul De Grauwe and Bernard de Bellefroid consider long-run exchange rate variability and international trade. Sven W. Arndt is Professor of Economics at the University ofCalifornia at Santa Cruz and President of the Commons Institute for International Economic Studies. J. David Richardson is Professor of Economics at the University of Wisconsin-Madison and a Research Associate of the National Bureau of Economic Research.

346 citations


Book
01 Jun 1987
TL;DR: In this article, the authors explain what the internationalization of banking and finance means, and examine its extent and the reasons it has developed, along with the policy problems for national governments and international bodies.
Abstract: This book explains what the internationalization of banking and finance means, and examines its extent and the reasons it has developed. The advantages and disadvantages of the new situation-and what is yet to come-are neatly sketched, along with the policy problems for national governments and international bodies.

102 citations


Journal ArticleDOI
TL;DR: In this paper, a distinction is made between emerging multinational, the global multinational and "in-between" MNEs in terms of types of strategies to be pursued, and uncertainty exists over the role of newer forms of international involvement such as licensing and management contracts, and these types of contractual arrangements represent only a second level of defensive, short-to medium-term supply strategy.
Abstract: This paper reviews recent writings on the topic of the internationalization of business, chiefly from the viewpoint of business strategy. A distinction is made between the emerging multinational, the global multinational and ‘in-between’ MNEs in terms of types of strategies to be pursued. Uncertainty exists over the role of the newer forms of international involvement such as licensing and management contracts, and the paper concludes that these types of contractual arrangements represent only a second level of defensive, short- to medium-term supply strategy.

97 citations


Book ChapterDOI
01 Jan 1987
TL;DR: In this paper, the authors pointed out that technological developments represent one major factor in the internationalization of service activities, through the modification of marketing modes that they bring about, and that it is difficult at this point in time to perceive durable changes in production structures that will develop.
Abstract: “By contributing to make technical and legal obstacles to trade more and more permeable, data services have undoubtedly been instrumental in the increasing importance of services as a whole in international transactions” [Lanvin, 1986]. Technological developments indeed represent one major factor in the internationalization of service activities, through the modification of marketing modes that they bring about. This has been referred to earlier (chapter 5) for individual service activities. As data services continue to develop and the technological means at their disposal undergo constant transformation, it is difficult at this point in time to perceive the durable changes in production structures that will develop. Moreover, it seems clear that innovations in the field of telematics are not the only source of expansion of service activities internationally. Parallel to the expansion of transborder data flows generated by the rapid evolution of telecommunication technologies, recent decades have witnessed a considerable growth in foreign direct investment by service companies. For example, as table 6-1 shows, outward flows of foreign direct investment in services of three major countries have about tripled between the late 1960s and the early ’80s.

85 citations


Book
01 Jan 1987
TL;DR: In this paper, the authors examine transnational corporations and their effect on local labour and capital, and consider the future prospects for their involvement in the Third World, and present a survey of transnational corpora' involvement in this area.
Abstract: Examines transnational corporations and their effect on local labour and capital, and considers the future prospects for their involvement in the Third World.

75 citations


Posted Content
TL;DR: In this paper, the authors provide a modern statement of the theory and practice of domestic and international banking and finance and provide a comparative study in a geographical sense and in an institutional sense, tracing parallels between operations of banks and other financial institutions.
Abstract: This text provides a modern statement of the theory and practice of domestic and international banking and finance. Today, banks are no longer limited to retail deposit-taking and lending operations; they engage in wholesale banking activities, off-balance sheet business, and activities beyond domestic markets. The principles of all these types of bank services are lucidly discussed. Separate chapters provide general background on payments systems, Eurocurrency markets, bank safety and depositor protection. The authors' conception is unique in providing a comparative study in a geographical sense (they deal with banking in the U.S., Britain, and Australia) and in an institutional sense, tracing parallels between operations of banks and other financial institutions, particularly insurance companies. With the growing impact of financial innovations and the internationalization of financial markets, Domestic and International Banking is the innovative text needed for courses on monetary and banking policy and on capital markets and financial institutions.

54 citations


Book
01 Jan 1987
TL;DR: In this article, the authors provide a modern statement of the theory and practice of domestic and international banking and finance and provide a comparative study in a geographical sense and in an institutional sense, tracing parallels between operations of banks and other financial institutions.
Abstract: This text provides a modern statement of the theory and practice of domestic and international banking and finance. Today, banks are no longer limited to retail deposit-taking and lending operations; they engage in wholesale banking activities, off-balance sheet business, and activities beyond domestic markets. The principles of all these types of bank services are lucidly discussed. Separate chapters provide general background on payments systems, Eurocurrency markets, bank safety and depositor protection. The authors' conception is unique in providing a comparative study in a geographical sense (they deal with banking in the U.S., Britain, and Australia) and in an institutional sense, tracing parallels between operations of banks and other financial institutions, particularly insurance companies. With the growing impact of financial innovations and the internationalization of financial markets, Domestic and International Banking is the innovative text needed for courses on monetary and banking policy and on capital markets and financial institutions.

49 citations


Book
31 Oct 1987
TL;DR: A New Framework for Trade in Services: Rationale, Methodology, and Scope as mentioned in this paper is a new framework for trade in services that is based on the three-factor theory revisited.
Abstract: 1 Introduction.- 2 The Brave New World of Intelligence.- Utility, disutility, and value.- What makes services valuable?.- The three-factor theory revisited.- The international dimension.- 3 Trade Classifications and Trade Determinants.- Defining and classifying services.- Testing times for comparative advantage.- H-O and services.- 4 Definitions, Functions and Regulations.- What is "labor"?.- Tradeability.- Functions.- Regulations.- Data problems.- Concluding remarks.- 5 Facts and Figures.- Banking.- Telecommunication and data services.- Insurance and reinsurance.- Transport.- Professional, business, and scientific services.- Distribution services.- Final consumer services.- Government services.- 6 The Internationalization Process.- From trade to integration.- Frorn integration to networking.- Services and developing countries.- 7 Technology and Trade, Two Sides of the Same Coin.- The new look of international trade.- Trade regulation in a new environment.- Scope and coverage of international trade regulations.- 8 A New Framework for Trade in Services: Rationale, Methodology, and Scope.- GATT and services: a bird's eye view.- Could GATT apply?.- The story of the shoe.- FLK, UK, and international economic relations.- 9 By Way of Conclusion.

33 citations


Book
31 Aug 1987
TL;DR: The Maekawa Commission reports and the potential constraints on internationalization are discussed in this article, with a focus on the U.S.-Japan trade conflicts and their effect on the Japanese economy.
Abstract: 1. The Path to Economic Power.- Objectives of This Book.- The Evolution of the Japanese Economy.- The Evolution of U.S.-Japan Trade Conflicts.- 2. The Origins of Internationalization.- Major Controversies.- America's International Competitiveness.- The Inadequacy of the Trade Balance Measure.- 3. The Action Program and Ongoing U.S.-Japan Trade Conflicts.- The 1981-1984 Japanese Market Opening 'Packages'.- The Spring 1985 U.S.-Japan Trade Developments.- Reasons For The Action Program.- Prime Ministerial Leadership Styles.- The Changing Policy Formulation Process.- Scope of the Action Program.- Reactions Abroad.- Ongoing U.S.-Japan Trade Conflicts.- 4. The Maekawa Commission Reports and the Potential Constraints on Internationalization.- Selected MITI Visions and Other Views.- The Original Maekawa Commission Report and Its Reception.- The Follow-Up Maekawa Commission Report.- The Domestic Discussion of Internationalization.- Sociocultural Considerations.- Economic Policy Constraints.- 5. Selected Trends in the Domestic Economy.- Economic Trends.- Endaka or the High Yen.- Changing Social Stratification.- Consumer Market Trends.- The Distribution System.- Advertising.- Foreign Direct Investment in Japan.- 6. Deregulation of the Financial Sector.- Policy Considerations.- The Internationalization of the Yen.- The Tokyo Stock Exchange.- Futures Market.- The Bond Market.- Short-Term Markets.- Deregulation of Interest Rates.- The Banking System.- Funds Market.- 7. The domestic Policy Options.- The Tax Reform.- Infrastructure Investments.- Increased Housing Investments.- Privatization.- Research and Development.- Reduction of Working Hours.- 8. The International Policy Options.- Overall Foreign Direct Investments.- Investments in the United States.- Investments in Western Europe.- Investments in the Asian Pacific Region.- Official Development Assistance.- 9. Looking Ahead.- The Economy and Trade.- Unresolved Domestic Concerns.- Japan's International Role.- Selected Corporate-Level Developments.- Concluding Observations.- Additional Considerations.- Appendices.- A - The Repetitive Pattern of U.S.-Japan Trade Conflicts.- B - Financial Deregulation Measures: 1985 to Mid-1989.- C - Highlights of the 1989 Insider Trading Regulations.- D - 1989 Captial Gains Tax Law.- E - Non-Japanese TSE Members as of January 1989.- F - Interest Rate Liberalization Through 1988.- G - Bank of International Settlements Guidelines.- H - The Key Points of the 1988 U.S.-Japan Science and Technological Agreement.- About the Authors.

27 citations


Journal ArticleDOI
TL;DR: In this article, the authors investigated differences between users and non-users of foreign trade zones in terms of firm characteristics, the awareness of zone benefits, and the importance of the benefits to the firms surveyed.
Abstract: Recent research has investigated the internationalization process of the firm. This study provides insight into the role that foreign trade zones play in that process. It investigates differences between users and non-users of foreign trade zones in terms of (1) firm characteristics, (2) the awareness of zone benefits, and (3) the importance of the benefits to the firms surveyed. Zone users were found to import significantly more than non-users and exported more as well. Users tended to be smaller in size (sales and number of employees) than non-users. Users were more aware of the benefits of foreign trade zones and, for the most part, rated the benefits as being more important in facilitating their global marketing and logistics functions.

22 citations


Book ChapterDOI
01 Jan 1987
TL;DR: For instance, the authors pointed out that the pure theory of international trade is pretty much a settled thing, especially by comparison with international monetary economics, which few of us have ever thought we understood.
Abstract: We have long thought of the pure theory of international trade as pretty much a settled thing—especially by comparison with international monetary economics, which few of us have ever thought we understood. Yet trade theory has now become one of the most active branches of economics and is widely perceived by the profession to be a field “in transition.” Why is this so?

Journal ArticleDOI
TL;DR: In this paper, the authors propose the development of competitive advantages that can be applied across diverse business units as a means to manage diversity more successfully in large, multinational corporations, which may be achieved in terms of product markets served, technologies used, the dominant logic of key managerial personnel, and establishment of corporate level distinctive competencies.

Journal ArticleDOI
TL;DR: In this paper, the authors discuss the nature of foreign direct investments by firms from developing countries in industrialized country markets, which is coined as "reverse direct investment" (RDI) and identify the behavior of the investment as "defensive" and "premature".
Abstract: This paper discusses the nature of foreign direct investments by firms from developing countries in industrialized country markets, which is coined as “reverse direct investment.” On the basis of the experiences of the Korean consumer electronics firms operating in the U.S., this paper identifies the nature of the investment as “defensive” and “premature“ strategic moves of firms in their internationalization process. There investment are made not to exploit firms' monopolistic firm-specific advantages, but to protect their export markets at an earlier time than economic forces might have led them to do. However, in the process, firms try to convert their home country-specific advantage (e.g. low labor cost) into firm-specific ones as much as possible. [440]

Journal ArticleDOI
TL;DR: This article provided a general characterization of such activities and gave specific examples of how companies approach international marketing research, and various indicators of market potential used by companies are also discussed, and a categorization of research themes is offered based upon level of company internationalization.
Abstract: Relying upon personal interviews with 70 companies, this article offers some conclusions on the nature and scope of international marketing research activities. Specifically, the analysis provides a general characterization of such activities and gives specific examples of how companies approach international marketing research. Various indicators of market potential used by companies are also discussed. A categorization of research themes is offered based upon level of company internationalization. Use of various sources of information is discussed. Finally, specific approaches to foreign market opportunity analysis are highlighted and illustrated with company experiences.

Journal ArticleDOI
TL;DR: The authors of as mentioned in this paper pointed out that even though technological change and production increases are still quite uneven between crops and agroecological regions, in the aggregate Latin American agriculture is undergoing a profound and rapid transformation which includes significant increases in production and productivity.
Abstract: new entrepreneurial forms and scientific management, and the overall restructuring of production relations in rural society, are all indicators of an intense &dquo;modernization&dquo; of that region’s food and raw materials production processes (see G6mez and P6rez, 1979; Garcia, 1981). As Pifteiro (1984: 1) pointed out, even though &dquo;technological change and production increases are still quite uneven between crops and agroecological regions, in the aggregate Latin American agriculture is undergoing a profound and rapid transformation which includes significant increases in production and productivity. &dquo;1 While &dquo;modernization&dquo; can be visualized as a manifestation of the

Posted Content
01 Sep 1987
TL;DR: In this paper, the authors analyzed intra-firm trade in manufacturing, that is, the estimated one-third of world trade in manufactures which is transacted between affiliated parties, and found that a substantial and growing part of international trade is internalized through the MNEs.
Abstract: The paper analyses "intra-firm" trade in manufacturing, that is, the estimated one-third of world trade in manufactures which is transacted between affiliated parties. As firms realize the increasing potential for integrating their operations throughout the world, they are contributing to significant shifts in the patterns of international trade and industrial development. As can be seen from the material presented here, a substantial and growing part of international trade is internalized through the MNEs.

Journal ArticleDOI
TL;DR: In this paper, the authors examined three major changes which have been occuring in the telecommunications market: liberalization, leading to increased competition in services and equipment, the internationalization of the equipment market, and a rapidly changing industrial structure.







Journal ArticleDOI
Jon Morris1
01 Jan 1987-Geoforum
TL;DR: In this article, the authors analyse the growth of international banking in the post-war era and theorise on this phenonemon, before reviewing recent technological change within the industry, focusing on a case study of a major relocation of a bank to South Wales and comparing this with other international studies.

Journal ArticleDOI
TL;DR: In this article, the organizational and attitudinal barriers Japanese women face in respect to recruitment and career mobility in Japanese corporations and the career implications of their roles as wives and mothers are examined, with particular reference to the internationalization of the Japanese economy and society.
Abstract: On the basis of interview materials, this article describes the organizational and attitudinal barriers Japanese women face in respect to recruitment and career mobility in Japanese corporations and the career implications of their roles as wives and mothers. Forces for change in the position of white-collar and managerial women are also examined, with particular reference to the internationalization of the Japanese economy and society.

Journal ArticleDOI
TL;DR: In this paper, the authors discuss the increasing internationalisation of business and transition to a global economy, with special detail on the views of UK and Scandinavian managers as revealed by a "Management for the Future" project carried out at Ashridge Management College.
Abstract: The increasing internationalisation of business and transition to a global economy are discussed, with special detail on the views of UK and Scandinavian managers as revealed by a “Management for the Future” project carried out at Ashridge Management College. Cultural factors, including national differences in management style, and readiness to learn foreign languages, can be modified by management development processes. For the international manager of the future, however, attitudes and values may also need to develop a greater openness.

Journal ArticleDOI
TL;DR: In this article, the authors present the options of Nordic countries for facing the challenges of increased vulnerability: seeking niche power, cooperating, playing on their democratic corporatism and welfare state policies as a means towards securing national support for economic p...
Abstract: The international economic system is characterized by rapid and radical restructuring. The causes of change are located in one or several of the following factors: instability resulting out of a declining or changing US hegemony and the responses of US economic policies to change; conflict over distributing the costs imposed by surplus capacity in many industries; an innovation race among the major powers and cor porations ; and the emergence of a new international division of labour resulting out of economic nationalism and internationalization of production at one and the same time. In the process, nations have become more economically vulnerable, a fact experienced in particular by small and open economies like those of the Nordic countries. The author sets out the options of these countries for facing the challenges of increased vulnerability: seeking niche power, cooperating, playing on their democratic corporatism and welfare state policies as a means towards securing national support for economic p...