Increasing Returns and Economic Efficiency - Hardcover

Ng, Y.

Hardcover

ISBN 10: 0230202098 ISBN 13: 9780230202092

Publisher: Palgrave Macmillan, 2009

Synopsis

A number of multinational corporations (MNCs) from developing economies are becoming key players in the global economy. The world's secondlargest forgingsmaker comes from India; the biggest Nordic insurer was bought by a South African competitor; a Mexican company reinvented the global cement business; and Brazilian restaurant chains sponsor immigration visas for highlyskilled meat carvers to support their American expansions. Understanding these trends and their implications is a priority for academics, policymakers and business professionals alike. Do these developments vindicate the view that globalization opens up unprecedented opportunities for the South to catch up with the North? Are these "emerging MNCs" any different from their competitors from industrial countries? Does private sector direct engagement herald a new era for SouthSouth cooperation? As this book shows, emerging MNCs must be analyzed in the context of the global political economy.

About this title

Review

 
'The role of increasing returns in the economy has been studied since the time of Adam Smith, yet it does not accord well with standard theories of competitive equilibrium. Yew-Kwang Ng has now presented in a comprehensive fashion the implications of taking increasing returns seriously and shown how they can be analyzed in a useful and highly original manner.' - Professor Kenneth Arrow, Nobel Laureate in Economics, Stanford University, US.
 
'Our failure to grapple adequately with the challenges of increasing returns is one of the great scandals of economics. But the problems are so hard that most people just look away. So hooray for Yew-Kwang Ng, who in this book shows that we can make progress in this area, and that incorporating increasing returns makes a fundamental difference to how we see the world.' - Professor Geoffrey Heal, Columbia Business School, US.

Book Description

Knowledge makes increasing returns important; tackling this largely neglected topic, this book breaks new grounds and has novel policy implications

Edition details

• Publisher: Palgrave Macmillan
• Publication date: 2009
• ISBN 10: 0230202098
• ISBN 13: 9780230202092
• Binding: Hardcover
• Language: English
• Number of pages: 213