The World Economy: Challenges of Globalization and Regionalization PDF
Preview The World Economy: Challenges of Globalization and Regionalization
THE WORLD ECONOMY Also by Marjan Svetlicic CONTEMPORARY DEVELOPMENT STRATEGY OPTIONS OF SMALL COUNTRIES, IN SMALL STATES COMPARED: POLITICS OF NORWAY AND SLOVENIA CROSSROADS OF THE WORLD ON THE VERGE OF THE 21 ST CENTURY FOREIGN DIRECT INVESTMENT AND THE TRANSFORMATION OF CENTRAL EUROPEAN ECONOMIES FOREIGN DIRECT INVESTMENT IN SOLVENIA (with M. Rojec) FOREIGN INVESTMENT IN CENTRAL AND EASTERN EUROPE (with P. Artisien and M. Rojec) GOLDEN NETS OF TRANSNATIONAL COMPANIES INVESTMENT AMONG DEVELOPING COUNTRIES AND TRANSNATIONAL CORPORATIONS (with M. Rojec) JOINT VENTURES AMONG DEVELOPING COUNTRIES MULTINATIONAL OF THE SOUTH, NEW FORMS OF EQUITY INVESTMENT BY YUGOSLAV FIRMS IN DEVELOPING COUNTRIES (with M. Rojec) Also by H. W. Singer CONFLICT AND CHANGE IN THE 1990s (editor with Anthony Carty) DEVELOPMENT PERSPECTIVES FOR THE 19 90s (editor with Renee Prendergast) ECONOMIC DEVELOPMENT AND WORLD DEBT (editor with Soumitra Sharma) The World Economy Challenges of Globalization and Regionalization Edited by Marjan Svetlicic Professor of International Economic Relations Faculty of Social Sciences University ofL jubljana Slovenia and H. W. Singer Professorial Fellow Institute of Development Srudies and Professor Emeritus University of Sussex First published in Oreat Britain 1996 by MACMILLAN PRESS LTD Houndmills, Basingstoke, Hampshire R021 6XS and London Companies and representatives throughout the world A catalogue record for this book is available from the British Library. ISBN 978-1-349-24697-7 ISBN 978-1-349-24695-3 (eBook) DOI 10.1007/978-1-349-24695-3 First published in the United States of America 1996 by ST. MARTIN'S PRESS, INC., Scholarly and Reference Division, 175 Fifth Avenue, New York, N.Y. 10010 ISBN 978-0-312-15886-6 Library of Congress Cataloging-in-Publication Data The World economy: challenges of globalization and regionalization I edited by Marjan Svetlicic and H. W. Singer. p. cm. Includes bibliographical references and index. ISBN 978-0-312-15886-6 (cloth) I. Economic hislry-1990- 2. Competition,lnternational. J. International economic relations. I. Svetlicic, Marjan. II. Singer, Hans Wolfgang, 1910- HC59.15.w66J 1996 JJ7--dc20 95-42059 CIP © Centre for International Cooperation and Development 1996 Softcover reprint of the hardcover 1s t edition 1996 All rights reserved. No reproduction, copy or transmission of this publication may be made without written pernlission. No paragraph of this publication may be reproduced, copied or transmitted save with written permission or in accordancc with the provisions of thc Copyright, Designs and Patents Act 1988, or under the tenns of any licence permitting limited copying issued by the Copyright Licensing Agency, 90 Tottenham Court Road, London WI P 9HE. Any person who does any unauthorised act in relation 10 this publication may be liable to criminal prosecution and civil claims for damages. 10 () 87654:12 06 05 04 03 02 01 00 99 ()8 Contents List of Abbreviations vii List of Tables and Figures ix Foreword xi 1 World Economy: Challenges of Globalization and Regionalization Marjam Svetlicic and Hans Singer 15 Part One: Transformation of the Global Economy 39 2 The Emerging World Economic Order and the Criteria of Acceptability Jack N. Behrman 41 3 International Involvement of Autarky? A Simple Analytic Framework H. Peter Gray 55 4 The Discrepancy between National and International Governance Louis Emmerij 65 5 Globalization. Economic Integration. and Political Disintegration Marjan Svetlicic 81 6 The Competitive Potential of Technology-Intensive Industries in Developing Countries Yair Aharoni and Seev Hirch 99 7 Economies in Transition and Development Economics Marjan Svetlicil: 119 Part Two: Challenges of the Regionalization of the World Economy 135 8 Globalization and Regionalization in the 1980s and 1990s Charles Oman 137 9 Is a Genuine Partnership Possible in a Western Hemisphere Free Trade Area? Hans W. Singer 153 10 Antagonism or Equanimity: U.S. Multinational and Regional Trading Blocs Louis T. Wells, Jr. 165 11 Global Competition Moulds European Multinationals' Responses to Regionalization John M. Stopford 187 12 Multilateralism versus Regionalism from the Perspective of the Central and Eastern European Countries Metka Stare 215 13 Consequences of European Integration for Developing Countries Erich Scherzer 229 Index 247 List of Abbreviations ACEA Association des Constructeurs Europeens d'A utomobiles APEC Asia and Pacific Economic Corporation ASEAN Association of South-East Asian Nations CAP Common Agricultural Policy CCC Commodity Credit Corporation CEE Central and Eastern European CEETs Central and Eastern European Countries in Transition CIS Commonwealth of Independent States CMEA Council for Mutual Economic Assistance DAC Development Assistance Committee DCs Developing Countries EAI Enterprise for Americas Initiative EC European Community ECU European Currency Unit EEA European Economic Area EEC European Economic Community EFTA European Free Trade Agreement ESPRIT European Strategic Programme for Research and Development in Information Technology EU European Union EXIM Exim Bank FDI Foreign Direct Investment FSCs Former Socialist Countries FTA Free Trade Area GATT General Agreement on Tariffs and Trade GDP Gross Domestic Product GM General Motors GNP Gross National Product GSP Generalized System of Preferences IADB Inter-American Development Bank IB International Business IMF International Monetary Fund JESSI Joint European Sub-Micron Silicon Initiative LAC Latin American and Caribbean (countries) LCDs Less Developed Countries MDBs Multilateral Development Banks MFA Multifiber Agreement VII MFN Most-Favored Nations MIF Multilateral Investment Fund MNCs Multinational Corporations NAFfA North American Free Trade Arrangement NATO North Atlantic Treaty Organization NFl New Forms of Investment NICs Newly Industrialized Countries NIEs Newly Industrialized Economies NIEO New International Economic Order NTA Non Tariff Agreement NTB Non Tariff Barriers NTM Non Tariff Measures OECD Organization for Economic Development and Cooperation OPM Others People Money QRS Quantitative Restrictions R&D Research And Development RACE Research and Development in Advanced Communications Technologies for Europe RBP Restrictive Business Practices SEM Single European Market TGV Tn!s Grande Vitesse TNCs Transnational Corporations TRIMs Trade Related Investment Measures TRIPs Trade Related Intellectual Property Rights UK United Kingdom UN United Nations UNCTC United Nations Centre on Transnational Corporations UNDP United Nations Development Program USAID United States Agency for International Development VER Voluntary Export Restraints VW Volkswagen WDR World Development Report WHFTA Western Hemisphere Free Trade Area WTO World Trade Organization VIII List of Tables and Figures Chapter 2 Exhibit 1: Critera for a New World Order 53 Chapter 3 Figure 1: National Tolerance for International Involvement 57 Chapter 6 Figure 1: Technology Level and Market Orientation 106 Chapter 10 Table 1: Destination of exports of U.S. manufacturing affiliates abroad, (Figures in millions of dollars) 1989 172 Table 2: Percentages of exports of U.S. manufacturing affiliates abroad, destined for affiliate's region, 1982 and 1989 173 Chapter 11 Table 1: The "global" position of European firms, selected industries, 1988 190 Table 2: Geographic distribution of outward FDI (percent of total stock) 191 Table 3: Changing balance between overseas production and exports from home country, 1977-90 192 Table 4: Shares of world industries, 1960-1993 (percent of sales of top twelve firms) 199 Exhibit 1: The changing nature of global competition 193 Figure 1: The differentiated global network 195 IX
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