Search results

You are looking at 11 - 18 of 18 items for :

  • competitive process x
  • Economics and Business x
Clear All
Problems of polysemy and idealism
Andrew Sayer

understanding and evaluating market economies, and for identifying the sources of competitiveness. Restricted accounts of markets exclude major contextual influences which explain behaviour. On the other hand, a more inclusive view which takes in those influences is going beyond exchange into production and consumption. Thus price competition in buying and selling, identifiable in the restricted view, differs from competition through product and process innovation, identifiable in the inclusive view. (These correspond to ‘weak’ and ‘strong’ competition, respectively, to use

in Market relations and the competitive process
Richard R. Nelson

results. It hinges on the multiplicity and diversity of wants, resources and technologies in modern economies that, experience shows, defy the information processing and resource allocating capabilities of centrally planned and controlled systems, and also presumes that the chances of appropriate responses to changed conditions are enhanced when there are a number of competitive actors who can respond, again a proposition consistent with experience. Many people find that case for market organisation compelling, and in accord with the evidence both about capitalist

in Market relations and the competitive process
Why China survived the financial crisis
Shalendra D. Sharma

pot.” Under the new fiscal system local governments entered into long-term (usually five-year) fiscal contracts with higher-level governments, and many were allowed to retain 100 per cent at the margin to make them “residual claimants.” In addition, local governments also received “extra-budgetary funds” that were not subject to sharing, not to mention the “off-budget funds” that were not even incorporated into the budgetary process and thus not recorded. It is well known that agricultural reform was the first reform success in the PRC. In the countryside, the de

in The Asian financial crisis
Open Access (free)
Issues, debates and an overview of the crisis
Shalendra D. Sharma

1995 was higher than those of its trading partners. Also, it should be noted that Thailand, Indonesia and Malaysia experienced a gradual erosion in the competitiveness of their export industries as a result of rising domestic costs, especially wage costs, against the backdrop of an industrialization process that was not very effective in shifting from laborintensive industries to higher levels. Thus, it can be concluded that the Chinese devaluation was “at best a contributing factor to the Asian financial crisis, not the primary cause” (Liu et al. 1998, 1). The

in The Asian financial crisis
Open Access (free)
Crisis, reform and recovery
Shalendra D. Sharma

agricultural and rural infrastructural development. Not surprisingly, agriculture accounted for almost 30 per cent of the rapid economic growth achieved from 1967 to 1973. While Indonesia was a major beneficiary of the oil and commodity boom of 1973–81, unlike many other oil exporters it used the earnings prudently – avoiding the familiar “Dutch disease” problem (or how to protect the competitiveness of the non-oil economy from the adverse consequences of oil windfalls) by wisely investing in manufacturing and agricultural production as well as in improving social services

in The Asian financial crisis
Open Access (free)
Crisis, reform and recovery
Shalendra D. Sharma

particular firms or industries from import duties on machinery, components, and raw materials, as well as imposing bans and surcharges on competing imports.” The officially stated emphasis on ISI was shifted towards the promotion of exports with the passage of the Investment Promotion Act of 1972. Local businesses responded eagerly to these opportunities, both on their own and through joint ventures with foreign firms – investing in agro-processing industries, trade, banking and other activities centered on the domestic market. In the late 1970s, the Thai government

in The Asian financial crisis
Open Access (free)
The evolving international financial architecture
Shalendra D. Sharma

respond to future crises more effectively” (IMF 2001). Although progress will be incremental, some measures are already in the process of implementation. First, it is clear that the advisory body of the IMF will be more involved in shaping policy and follow-up. In September 1999, the Interim Committee of the IMF (its principal advisory body) was transformed into the International Monetary and Financial Committee (IMFC). The committee’s membership consists of IMF governors (typically finance ministers or central bank governors) of those countries that have been appointed

in The Asian financial crisis
Open Access (free)
Crisis, reform and recovery
Shalendra D. Sharma

following the collapse of the Thai baht in mid-1997 were the proximate causes. Specifically, starting in the early 1990s, the Korean government embarked on an ambitious drive towards globalization, or segyehwa. To this effect, the government began to relax its control over the financial sector, especially its restrictions on foreign borrowing. As a result, the number of financial institutions engaged in foreign-currency-denominated activities increased sharply. This process was greatly accelerated (partly in order to meet OECD requirements) under the first civilian government

in The Asian financial crisis