This timely book presents practical applications of modern economic theories to trade, transaction costs and institutions within both business and governmental realms. Frank A.G. den Butter explains the importance and means of keeping transaction costs as low as possible. He illustrates how this transaction management can contribute to making firms and nations more competitive by exploiting gains from the division of labour and international fragmentation of production, and uses relevant case studies to illustrate how value is created by reducing transaction costs. Policy recommendations for strengthening the competitive position of trading nations and reducing implementation costs of government policy are presented, and management methods for creating value in organizing production on a global scale are prescribed. A wide-ranging audience encompassing economists in academia, government and business; managers in industry and government; and students of economics, business and globalization will find this book to be a crucial reference tool.

All organizations, institutions, business processes, markets and strategies have one aim in common: the reduction of transaction costs. This aim is pursued relentlessly in practice, and has been perceived to bring about drastic changes, especially in the recent global market and the cyber economy. This book analyzes and describes “transactions” as a model, on the basis of which organizations, institutions and business processes can be appropriately shaped. It tracks transaction costs to enable a scientific approach instead of a widely used “state-of-the-art” approach, working to bridge the gap between theory and practice. This open access book analyzes and describes “transactions” as a model...

Transaction cost economics has and continues to be a fruitful area of research. There is still much to be done in the field with past research being used in conjunction with the vast number of contractual phenomena that have yet to be investigated in transaction cost economics terms. New challenges are posed by the need to move beyond the design of new contractual instruments (such as financial derivatives) to include an examination of the lurking hazards that attend contract implementation.

Management consultancy and investment banking have been held up as industries at the forefront of contemporary globalization. Using an inter-disciplinary approach ranging across economics, economic geography, sociology and management studies, Andrew Jones analyzes the nature of globalization within business service transnational corporations in these sectors. Using qualitative research with leading business managers, he focuses on the social and cultural nature of 'doing' global service business in an era of increasing integration of the world economy.

This book provides an in-depth exploration of the complexities surrounding supply chain globalization, de-globalization, and the prospective re-globalization. It not only presents the interplay of these phenomena but also navigates their root causes through the lens of organizational, economic and political theories. The analysis spans across multiple fields, enabling readers to grasp the full breadth and depth of the dynamics at play. In this book, you'll delve into the intricacies of global sourcing and production. These discussions will help you understand the layers of complexities inherent in managing global supply chains. You'll explore the risks and uncertainties associated with international supply chain operations, gaining insight into building resilient and adaptive systems capable of thriving amidst constant change. You'll also learn about the sustainability challenges emerging within the global supply chain environment. How can firms ensure that their supply chains remain economically viable, socially responsible, and environmentally friendly? These and other topics find their discussions in the pages of this book. This book offers considerable value for various readers. Students at both undergraduate and postgraduate levels can gain essential understanding of concepts and phenomena related to supply chain globalization. Operational managers can find practical implications and strategies for managing their global supply chains amidst an unpredictable international trade environment. Finally, the book doesn't only focus on the present. It forecasts potential future developments and proposes new research directions in the fields of supply chain management, strategic management, and international business. Thus, it's also an indispensable resource for scholars seeking fresh perspectives and avenues for exploration.

Over the next 25 years developing countries will move to center stage in the global economy. Global Economic Prospects 2007 analyzes the opportunities - and stresses - this will create. While rich and poor countries alike stand to benefit, the integration process will make more acute stresses already apparent today - in income inequality, in labor markets, and in the environment. Over the next 25 years, rapid technological progress, burgeoning trade in goods and services, and integration of financial markets create the opportunity for faster long-term growth. However, some regions, notably Africa, are at risk of being left behind. The coming globalization will also see intensified stresses on the "global commons." Addressing global warming, preserving marine fisheries, and containing infectious diseases will require effective multilateral collaboration to ensure that economic growth and poverty reduction proceed without causing irreparable harm to future generations."

As awareness of the process of globalization grows and the study of its effects becomes increasingly important to governments and businesses (as well as to a sizable opposition), the need for historical understanding also increases. Despite the importance of the topic, few attempts have been made to present a long-term economic analysis of the phenomenon, one that frames the issue by examining its place in the long history of international integration. This volume collects eleven papers doing exactly that and more. The first group of essays explores how the process of globalization can be measured in terms of the long-term integration of different markets-from the markets for goods and commodities to those for labor and capital, and from the sixteenth century to the present. The second set of contributions places this knowledge in a wider context, examining some of the trends and questions that have emerged as markets converge and diverge: the roles of technology and geography are both considered, along with the controversial issues of globalization's effects on inequality and social justice and the roles of political institutions in responding to them. The final group of essays addresses the international financial systems that play such a large part in guiding the process of globalization, considering the influence of exchange rate regimes, financial development, financial crises, and the architecture of the international financial system itself. This volume reveals a much larger picture of the process of globalization, one that stretches from the establishment of a global economic system during the nineteenth century through the disruptions of two world wars and the Great Depression into the present day. The keen analysis, insight, and wisdom in this volume will have something to offer a wide range of readers interested in this important issue.