Bøger i Studies in International Economics and Institutions serien

"New Institutional Arrangements for the World Economy" were discussed by a group of economists and lawyers working in the fields of interna tional trade, international monetary economics, international finance, international public choice, and international economic law.

It is worthwhile recalling that at that time one had only very limited experience with the regime of flexible exchange rates: The most important case, the floating of Canadian against the US dollar, could not be generalized to a world where nearly all important countries adhered to the regime of flexible exchange rates.

A real imports of capital and intermediate goods declinedsharply for highlyindebted countries in the 1980s, theseeconomies were faced with the need tosubstitute previouslyimported factors of production with domestic capital andlabor.

With contributions by numerous experts

Second, apart investigating the determinants of trade flows studiesthe interrelationships between trade balances and exchangerates, plant size and international trade, and the revelanceoffirm size and market concentration for the degree ofexport market integration using business survey firm data.

Economic integration is the most noteworthy development in international economic policy at the end of this century.

Starting from a level less than 2 $ per barrel in 1972, the spot market price of Arabian Light crude oil increased to some 35 $ in 1980, then slowly decreased, and finally fell to 13 $ in 1986 (annual averages).

It is the main purpose of the book to give a logically consistent foundation of migration decision making under incomplete information in a unified framework. Decision rules for migration are derived from a general model of Stochastic Dynamic Programming and the properties of temporary migration equilibria are discussed as well.

The 26 contributions are revised versions of papers originally presented at the Second Konstanz Symposium on International Economics and Institutions which was organized by the Long-term Research Programme (Sonderfor schungsbereich) "Internationalization of the Economy" on October 1 and 2, 1990.

With contributions by numerous experts