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Institutions are a key determinant for growth. I am very happy to have pursued my research at a very good and stimulating institution, namely at the institute for Empirical Research in Economics (lEW). My special thanks go to my thes- supervisor, Josef Zweimueller. With great enthusiasm, he pointed me towards interesting research subjects. It was a very fruitful collaboration, which allowed me to start quickly my dissertation. Josef Falkinger, my co-advisor, was always an excellent discussant - not only in economics - and I profited from his useful com­ ments on earlier versions of this dissertation. Daron Acemoglu, Philippe Aghion, Marios Angeletos, Giuseppe Bertola, Oded Galor, Omer Moav, and Gilles Saint- Paul provided very valuable comments and suggestions to topics related to this dissertation. I gratefully acknowledge the support and numerous discussions with my colleagues, especially with Zava Aydemir, Men-Andri Benz, Johannes B- swanger, Markus Knell, Volker Grossmann, Urs Meister, Manuel Oechslin, and Niels Zilkens. Furthermore, my research also profited much from the interplay be­ tween teaching and research, as it was a very satisfactory task to guide ambitious students to macroeconomic problems. Finally, I want to thank my parents. Marcel and Rosemarie Foellmi-Kuster, for their great support. As entrepreneurs, they provided me, early on, with a critical view on economic problems and puzzles. Jede Forschungsarbeit profitiert ungemein von einem anregenden Umfeld. Ich hatte das Gliick, am Institut fiir Empirische Wirtschaftsforschung (lEW) solche vi Preface idealen Bedingungen vorzufinden.

Macroeconomics --- Economic growth --- macro-economie --- economische groei

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Business Education in Emerging Market Economies discusses the impact of business education on emerging markets and explores curricular innovation, pedagogical approaches, and strategic alliances in the context of industrializing economies. Emerging markets consist of eighty percent of the world's population and some 75% of its trade growth in the foreseeable future according to the U.S. Department of Commerce. The potential economic growth of emerging markets has prompted a need to understand the dynamics of these markets, their business institutions, and their educational systems. Many universities in the United States of America, for example, have responded to the demand of their students and business constituents to educate them about these exciting opportunities and lurking threats in these industrializing economies. This book contains multiple chapters describing curricular innovations and course development designed to educate American students about emerging markets. The pressures of globalization and the recent economic reforms that swept across emerging, developing, and transitioning, economies have had a positive impact on the demand for business education and business knowledge from the developed and industrialized countries. As a result, many methods were developed to transfer know-how from the developed markets including learning through imitation, using western style pedagogical approaches, attending universities in industrialized countries, learning through experience and practice, and using information technology. Aside from chapters on the aforementioned topics, this book also provides country- and region-specific insight into China, Russia, India, Ukraine, Latin America, Brazil, Argentina, South Africa, Arab Middle East and North Africa, and Vietnam. The conclusion we reach is that business and management education in emerging markets is fast changing the way in which these markets operate and are perceived - business educators are catalysts for greater economic integration.

Economic growth --- Business management --- management --- bedrijfskunde --- economische groei --- handelswetenschappen

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How can Africa, the world's most lagging region, benefit from globalisation and achieve sustained economic growth? Africa needs greater investment by Multinational Enterprises (MNEs) to improve competitiveness and generate more growth through positive spill-over effects. Despite the fact that Africa's returns on investment averaged 29% since 1990, Africa has gained merely 1% of global Foreign Direct Investment (FDI) flows. The challenge for African countries is how to be a more desirable destination for FDI. The study integrates three currents of economic research, namely from the literature on (endogenous) economic growth, convergence and regional integration, the explanations for Africa's poor growth and the growing understanding of the role of MNEs in a global economy. The empirical side of the book is based on an econometric study of the determinants of FDI in Africa as well as a detailed firm-level survey conducted in 2000.

Economic growth --- International finance --- International economic relations --- wereldeconomie --- economische groei --- internationale economie --- Africa

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Economic regionalism has become a worldwide phenomenon. Since the Asian financial crisis, East Asian countries are accelerating the ongoing market-driven economic integration as well as institutional economic integration. The question is whether East Asia can reach an East Asian FTA (EAFTA), which is the first step towards institutional economic integration. East Asian Economic Regionalism attempts to analyze the feasibilities of economic integration in East Asia and to discuss emerging economic integration efforts in East Asia with special reference to an East Asian FTA. Although economic integration is desirable economically, positions and approaches of each regional economy toward East Asian economic integration may differ depending on the circumstances of the countries concerned. East Asian Economic Regionalism provides diverse positions on East Asian economic integration by ASEAN countries, as well as the Northeastern countries of China, Japan and Korea. The volume also provides economic assessment of EAFTA and evaluates East Asian economic integration. East Asian Economic Regionalism may be the first book on East Asian economic integration with positions toward economic integration of major players in the region.

Economic growth --- Economic schools --- Foreign trade. International trade --- wereldeconomie --- economische groei --- economisch denken --- internationale economie

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"This volume does exactly what its title says: it acquaints with 'New Trends in Macroeconomics'. More specifically, it contains eleven chapters covering different aspects of modern macroeconomics: short-run fluctuations, long-run growth, monetary economics, international finance, macroeconometrics and complex dynamics. All chapters break new grounds in their area while at the same time remain very accessible. The book contains also an excellent mixture of new techniques, interesting applications and methodological arguments. A valuable reference for both practitioners and researchers, it will also be of great help to gradutate students seeking to bring themselves to the frontier of one of the most fascinating fields of economics." Professor Theodore Palivos Co-editor of the Journal of Macroeconomics

Macroeconomics --- Quantitative methods (economics) --- Economic growth --- Economic schools --- macro-economie --- economische groei --- economisch denken --- econometrie