bipolarity multipolarity and free trade recent literature typically attributes the relative scarcity of open international markets to the prisoner s dilemma structure of state preferences with respect to trade i argue that the prisoner s dilemma representation does not reflect the most critical aspect of free trade agreements in an anarchic international system security externalities explicit consideration of these effects suggests that a bipolar international political system has an advantage relative to its multipolar counterpart with respect to the opening of markets among states less credible exit threats and stronger incentives to engage in altruism within its alliances explain the advantage of a two power system the real income gains that motivate free trade are also the source of the security externalities that impede it their ability to internalize these effects makes military alliances the natural basis of agreements to open international markets the evolutionary prospects of alliances vary however ones that are the products of bipolar systems are more likely to evolve into free trade coalitions than are their multipolar counterparts i argue that less credible exit threats and stronger incentives to engage in alliance altruism explain the advantage of a two power system several important limits of the argument should be made clear immediately i argue at the systemic level i attempt to isolate the political and economic incentives for free trade that occur at the level of the international system i do not therefore consider the impact of unitlevel factors on the pursuit of these incentives for example neither the role of special interest groups nor the organization of domestic exchange via hierarchies instead of markets is considered doyle 1986 frieden 1988 ruggie 1982 the conditions i assume are those of standard international trade theory ethier 1983 and illustrative rather than systematic empirical referents are used these restrictions are appropriate given my purpose to demonstrate analytically the advantage of a bipolar international political system with respect to free trade

green by choice cross national variations in firms responses to ems based environmental regimes environmental management systems emss represent a new generation of voluntary beyond compliance environmental policies that neither set substantive goals nor specify final outcomes as a result many stakeholder groups are lukewarm toward them since 1993 two major supranational emss iso 14001 and the european union s environmental management and audit scheme emas have been introduced firms receive formal accreditation after their ems has been certified by outside verifiers this accreditation can potentially bestow monetary and nonmonetary benefits on these firms firm level ems adoption patterns in the united kingdom germany and the united states vary thereby suggesting that national contexts influence firms responses to them in germany and the u k a significant number of sites have become either iso 14001 or emas certified while the take up of iso 14001 in the u s emas is available only to european sites has been less enthusiastic this article begins with the hypothesis that firms in countries with adversarial economies where regulators and business are on less than friendly terms are less likely to adopt ems based programs this hypothesis explains why iso 14001 take up has been relatively high in the u k and relatively low in the u s however it cannot explain 1 the high rate of take up of both iso 14001 and emas in germany where the stringency of environmental legislation has been a contentious issue between the government and industry and 2 why emas has been more popular in germany than in the u k this article argues that the original hypothesis while largely correct is underspecified to better explain the cross national differences in ems adoption one must take into account the type of adversarial economy adversarial legalism versus prescriptive interventionism and the nature of the policy regime procedural versus substantive

the contingent governance of teams analysis of institutional complementarity the first purpose of this paper is to design a model of governance structure called the contingent governance which can control the free riding problem in teams in the second best manner the second is to show by a new method of comparative static analysis that the effectiveness of the contingent governance may be enhanced by complementary institutional arrangements of the imperfect labor market and bank centered financial system the paper discusses the implications of such institutional complementarity for the dynamic change of the japanese main bank system and financial system design of transitional economies copyright 1994 by economics department of the university of pennsylvania and the osaka university institute of social and economic research association

returns to regionalism an analysis of nontraditional gains from regional trade agreements the past decade has witnessed a renewed interest in regional trade agreements with many policymakers and academics seeming to believe that these provide more than the traditional gains from trade this article examines several possible benefits that regional trade agreements may confer on their partners including credibility signaling bargaining power insurance and coordination it assesses the necessary conditions for each possible channel to work gives stylized examples of specific types of policy where the benefit might be applicable examines cases where the explanation might be relevant and discusses their overall plausibility it concludes by examining the north american free trade agreement and the europe agreements

competition marginal cost tariffs and spot pricing in the chilean electric power sector abstract setting up competitiveness and privatizing the power sector has been an important goal of chilean energy policy since 1974 the new organization of the electric sector includes deconcentration of generating and distributing companies a new marginal cost and spot pricing system coordination of generating companies through an economic load dispatching centre eldc and a scheme for sharing transmission lines this paper describes why and how those tasks were carried out in chile

domestic and international determinants of bank profits foreign banks in australia abstract this paper develops and tests a model that integrates the existing multinational bank literature with the domestic bank profits literature using data for australia this paper demonstrates that an integrated model results in a small increase in explanatory power when compared to models drawn solely from the multinational banking literature the paper finds that profits are a negative function of competitor market share and bank licence status and a positive function of australian size and home gdp growth it is argued that there is incomplete integration between the market segments of domestic and multinational banks due to the first mover advantages of incumbent banks

does competition in privatized social services work the chilean experience summary this paper examines the premises under which the privatization of chilean social services of 1981 was carried out reformers expected that i competition between providers would ensure a more efficient supply of services and ii shifting decisions to households would guarantee a better satisfaction of household needs although some of the benefits of competition are lost through rent dissipation especially in the providers search for the more profitable customers we conclude that the reform has benefited society by providing competition to public providers and reducing the risk of political capture the major lesson however is that the full benefits from privatization cum competition are slow to arrive and require able regulators moreover the benefits of privatization may depend to a large extent on implementation fine tuning

crisis in the eye of the beholder economic crisis and partisan politics in latin american and east european international monetary fund programs this article analyzes the interaction between economic crises and partisan politics during international monetary fund program initiation in latin america in the 1980s and eastern europe in the 1990s the author argues that economic crises are at least in part in the eye of the beholder and therefore policy responses reflect the interaction between crisis intensity and the government s partisan interpretation of the crisis which in turn depends on the nature of the economic crisis and its broader regional and international environment using cross country statistical evidence from the two regions the article shows that certain types of crises such as liquidity shortfalls elicit similar responses across the ideological spectrum and regional contexts by contrast debt repayment and domestic crises are more prone to divergent ideological interpretations but the extent of partisan divergence is context sensitive in that it occurred during the latin american debt crisis but not in the post communist tra

the politics of foreign direct investment into developing countries increasing fdi through international trade agreements the flow of foreign direct investment into developing countries varies greatly across countries and over time the political factors that affect these flows are not well understood focusing on the relationship between trade and investment we argue that international trade agreements gatt wto and preferential trade agreements ptas provide mechanisms for making commitments to foreign investors about the treatment of their assets thus reassuring investors and increasing investment these international commitments are more credible than domestic policy choices because reneging on them is more costly statistical analyses for 122 developing countries from 1970 to 2000 support this argument developing countries that belong to the wto and participate in more ptas experience greater fdi inflows than otherwise controlling for many factors including domestic policy preferences and taking into account possible endogeneity joining international trade agreements allows developing countries to attract more fdi and thus increase economic growth

how effective are capital controls a number of authors have recently argued that in order to avoid financial instability emerging countries should rely on capital controls two type of controls have been considered controls on capital outflows and controls on capital inflows in this paper i review the historical evidence on the effectiveness of these two type of controls i argue that controls on outflows have been ineffective they are circumvented and breed corruption i also analyze chile s recent experience with controls on inflows and i argue that their effectiveness has been exaggerated

the market for medical services and physicians an application of hedonic price theory without disputing the importance of the special characteristics found in the market for medical services it is argued in this paper that the standard economic model of maximizing behaviour rather than an idiosyncratic theoretical formulation unique to the medical profession is well suited to this market this conclusion is based on analysis in which the technique of equalizing differences is used to define a competitive equilibrium that provides the possibility of both price and non price competition the maximizing model developed provides an alternative theoretical explanation of the limit placed on supplier induced demand to that offered by the target income model of physician behaviour or that offered by the arguments based on medical ethics le marche des soins et des medecins une application de la theorie des prix hedoniques sans remettre en question l importance des caracteristiques particulieres du march6 des soins l auteur suggere que le modele traditionnel de comportement de maximisation est applicable a ce march6 et un substitut preferable aux formulations theoriques specifiquements dessinees pour la profession medicale l auteur derive cette conclusion d une analyse dans laquelle la technique des diff6rences egalisantes est utilisee pour definir un equilibre concurrentiel qui accommode la concurrence par les prix mais aussi par d autres moyens le modele de comportement de maximisation qui est developpe fournit une explication th6orique de rechange pour la limite placee sur la demande engendree par le producteur les autres explications ont ete fournies par des modeles de comportement du medecin tentant de se donner acces a un revenu cible ou encore par des explications fondees sur l ethique medicale the market for medical care is distinct from that for other commodities since medical services are often non transferable once purchased kessel 1958 pauly 1978 and consumers frequently find it difficult to evaluate medical services evans 1974 these characteristics of the medical market and the observation that physician density and both physician fees and services are positively associated have encouraged the assertion that physicians control demand sloan and feldman 1978 although research assistance by franca pastro and mary stafford is gratefully acknowledged financial assistance for this research was provided by the british columbia youth employment program the university of alberta s central research fund and the president s research grant from simon fraser university in addition i am grateful for the comments made by chris hall terry heaps david ryan seminar participants at the university of alberta and two anonymous referees canadian journal of economics revue canadienne d economique xviii no 2 may 1985 printed in canada imprime au canada 0008 4085 85 377 94 1 50 c canadian economics association this content downloaded from 157 55 39 144 on mon 25 jul 2016 03 48 21 utc all use subject to http about jstor org terms

disguised protectionism and linkages to the gatt wto member states of the gatt wto have linked some issue areas outside trade to the institution and did so with varying depths at the same time they have chosen not to link other issue areas what accounts for this variation the author argues that states establish a legalized linkage between the gatt wto and an issue area outside it when they are uncertain about the possibilities of disguised protectionism such uncertainty exists under two conditions when diversity in regulations in an issue area across states generates a large adverse impact on trade negative externalities but that diversity can be justified at the international level for 1 having an independent objective apart from hampering trade and 2 when there are few alternative policies to achieve that objective legitimacy states establish a highly legalized linkage in these situations to reduce the uncertainty and minimize disguised protectionism by contrast when regulatory diversity exhibits low legitimacy states establish only a weakly legalized linkage in the absence of meaningful externalities they do not establish any linkages the author evaluates this argument in two ways he provides an overview of eleven issue areas about which there have been some debates or conflicts about linkages to the gatt wto in addition he carries out in depth case studies of three issue areas labor standards environmental standards and health safety standards the findings of this article contribute to a better understanding of international institutions and cooperation as well as of the evolution of the multilateral trade institution

the social cost of carbon and its policy implications the shadow price or social cost of carbon is an important indicator of the global incremental damage done by emitting greenhouse gases today cost benefit analysis would set the optimal amount of greenhouse gas emission reduction at the point where this social cost just equals the incremental cost of controlling emissions the higher the value for the social cost of carbon the more control is warranted this comparison assumes that cost benefit analysis is the correct way of determining climate change policy and many believe this is not the case because of the very long term irreversible and potentially catastrophic nature of global warming but in the short run at least a comparison of cost and benefits is required and in any event all decisions imply costs and benefits but what is the right figure for the social cost of carbon this paper reviews the uk government s assessment of the cost and concludes that it has been set far too high because of a misreading of the integrated assessment models used to balance costs and benefits moreover adoption of the uk government s shadow price would have formidable implications for energy policy in the uk and for policies on afforestation copyright 2003 oxford university press

post neoliberal electricity market re reforms in argentina diverging from market prescriptions this paper focuses upon the policy and institutional change that has taken place within the argentine electricity market since the country s economic and social crisis of 2001 2 as one of the first less developed countries ldcs to liberalise and privatise its electricity industry argentina has since moved away from the orthodox market model after consumer prices were frozen by the government in early 2002 when the national currency was devalued by 70 although its reforms were widely praised during the 1990s the electricity market has undergone a number of interventions ostensibly to keep consumer prices low and to avert the much discussed energy crisis caused by a dearth of new investment combined with rising demand levels this paper explores how the economic crisis and its consequences have both enabled and legitimised these policy and institutional amendments while drawing upon the specifics of the post neoliberal market re reforms to consider the extent to which the government appears to be moving away from market based prescriptions in addition this paper contributes to sector specific understandings of how despite these changes neoliberal ideas and assumptions continue to dominate argentine public policy well beyond the postcrisis era

how investor portfolios shape regulatory outcomes privatized infrastructure after crises summary many developing countries privatized utilities during the 1990s their weak institutional environments however make them prone to crises that generate incentives for governments to renege on contractual commitments to investors to understand variation in post crisis regulatory outcomes in such contexts scholars must consider investors prior choices regarding portfolio structure investors facing high reputational costs from exit are more likely to remain following expropriation and those holding diverse assets in their contract jurisdiction to secure compensation these factors account for significant unexplained within sector and subnational variation for which we provide qualitative and quantitative evidence from argentina s water and electricity sectors following the 2001 crisis

increasing returns path dependence and the study of politics it is increasingly common for social scientists to describe political processes as path dependent the concept however is often employed without careful elaboration this article conceptualizes path dependence as a social process grounded in a dynamic of increasing returns reviewing recent literature in economics and suggesting extensions to the world of politics the article demonstrates that increasing returns processes are likely to be prevalent and that good analytical foundations exist for exploring their causes and consequences the investigation of increasing returns can provide a more rigorous framework for developing some of the key claims of recent scholarship in historical institutionalism specific patterns of timing and sequence matter a wide range of social outcomes may be possible large consequences may result from relatively small or contingent events particular courses of action once introduced can be almost impossible to reverse and consequently political development is punctuated by critical moments or junctures that shape the basic contours of social life

setting international standards technological rationality or primacy of power standards have become one of the most important nontariff barriers to trade especially national product standards that specify design or performance characteristics of manufactured goods divergent national standards often inhibit trade whereas regional and international standards increasingly serve as instruments of trade liberalization consequently the setting of international standards seemingly technical and apolitical is rapidly becoming an issue of economic and political salience but who sets international standards who wins who loses this article offers a fresh analytical approach to the study of international standards which the authors call the institutional complementarities approach it builds on insights from realism and the battle of the sexes coordination game but emphasizes complementarities of historically conditioned standardization systems at the national level with the institutional structure of standardization at the international level it posits that after controlling for other factors that influence involvement in international standardization differences in institutional complementarities play a critical though largely accidental role in placing firms from different countries or regions in a first or second mover position when standardization becomes global the authors illustrate the insightfulness of this approach through statistical analyses of the first scientific set of data on standards use and standardization collected by the authors through an international online survey

optimal greenhouse gas emissions under various assessments of climate change ambiguity the probabilities associated with global warming damage are likely to be continuously revised in the light of new information such revisions of probability are the defining characteristic of ambiguity as opposed to risk this paper examines how climate change ambiguity may affect optimal greenhouse gas emission strategies via the decision maker s attitude towards anticipated changes of damage probabilities two conceptualizations of ambiguity are distinguished according to the emphasis placed on the ambiguity of priors or on the ambiguity of news respectively it is shown that the way in which ambiguity is viewed and the attitude taken towards it have a substantial influence on the optimal emission trajectory

the benefit of crises for economic reforms when expenditures consistently outrun revenue the resulting inflation may have the effect of convincing the public and government that taxes must be raised to finance public investment in the advanced industrial countries income taxation and big spurts in taxation generally have become possible only under the impact of major emergency and crisis mostly in wartime in a number of developing countries in

unions role in argentine and chilean pension reform abstract the 1981 privatization of chilean pensions created immediate winners and observable benefits it also created a model for latin american pension reform this study compares the chilean and argentine experiences by using political economy models of social welfare development as a framework for discussion we suggest privatizing pensions could divide workers or create opportunities for unions to garner control over financial capital investments the argentine pension reform may diverge substantially if unions increase their participation in the pension fund management and worker education

testing the bargaining hypothesis in the manufacturing sector in developing countries the bargaining power model of hc mnc host country multinational corporation interaction conceives of economic nationalism in terms of rational self interest and assumes both inherent conflict and convergent objectives in extractive industries there is strong evidence that outcomes are a function of relative bargaining power and that as power shifts to developing hcs over time the bargain obsolesces a cross national study of the bargaining model using data from 563 subsidiaries of u s manufacturing firms in forty nine developing countries indicates that while the bargaining framework is an accurate model of mnc host country relationships manufacturing is not characterized by the inherent structurally based and secular obsolescence that is found in the natural resource industries shifts in bargaining power to hcs may take place when technology is mature and global integration limited in industries characterized by changing technologies and the spread of global integration the bargain will obsolesce very slowly and the relative power of mncs may even increase over time

estimation of the greenhouse gas externality with uncertainty the shadow price of carbon dioxide is the value of the external damage caused by an emission a shadow price model for calculating the present value of the external damage of a carbon dioxide emission is derived explicitly sixteen experts provided subjective high low and most likely parameter estimates because correct values for the eight model parameters are uncertain the estimation procedure retains parameter uncertainty while generating the main result which is a distribution of shadow price estimates major assumptions made in the estimation identify the basis for the results of the eight model parameters the discount rate dominates the determination of the shadow price for comparison expert estimates of the shadow price itself provide a second distribution of shadow price estimates

understanding economic policy reform one of the eventual consequences of the global debt crisis was a wave of market oriented economic reforms this paper discusses the state of our knowledge on the political economy of this process why were inefficient and often unsustainable policies maintained for so long why are so many governments reforming now after decades of adherence to policies of an opposite kind have the reformers internalized the correct lessons from the east asian experience finally are there any helpful rules for reformers to follow in guiding their policies through complicated political terrain

forward shifting of the personal income tax by self employed canadian dentists in this paper two tests are conducted of the null hypothesis that self employed canadian dentists do not shift the burden of their personal income tax forward to their patients by charging higher real dental fees the first test using ordinary least squares estimation of a reduced form dental fee equation is based on an exogenous tax variable the second test uses two stage least squares estimation of a reduced form dental fee equation with an endogenous tax variable both tests reject the null hypothesis of no forward shifting and fail to reject the hypothesis that self employed canadian dentists shift forward 100 percent of their personal income tax burden

international investment agreements and services markets locking in market failure summary bilateral investment treaties bits and investment chapters in preferential trade agreements have become popular measures to guarantee investor friendly policies while they reassure multinational firms they also constrain host country authorities in regulating markets to stimulate competition these problems are widespread in service industries characterized by significant economies of scale this paper presents case studies of the difficulties the chilean regulatory authorities faced in regulating the financial services telecom and energy industries it concludes that able regulators are necessary but that international agreements need to also leave enough policy space

regulation institutions and commitment in telecommunications a comparative analysis of five country studies within any system of utility regulation there is a tension between the ability to commit to a stable set of rules and the ability to respond flexibly to changing circumstances countries differ in their institutional endowments and hence in the ways in which they can resolve this tension a first group of countries can design regulatory systems that afford the regulator substantial formal discretion to respond to changing circumstances and can use process to restrain arbitrary action a second group of countries can restrain arbitrary action only by calling on specific substantive rules and may have to sacrifice some flexibility to achieve credible commitment a third group may lack the domestic institutions to put in place a credible and workable regulatory system of any kind

does basic services privatisation benefit the urban poor some evidence from water supply privatisation in thailand access to safe water and sanitation has been a development priority for decades this is also included in the millennium development goal targets meanwhile privatisation of water supply continues to be a subject of intense debate particularly as to its effects on the urban poor the arguments for and against often reflect the intellectual divide between socialist ideals and neo liberal pragmatism key issues are access quality and price this paper reports findings from an investigation of thailand s first water supply privatisation scheme implemented in 1998 household level data for the poor defined by community and income status show a significant improvement in access to piped water despite an increase in the connection cost and monthly charges the associated benefits from access include improved water quality and service a promising plus is the prospect of improvement in tenure status for the households living in informal settlements

crisis and policymaking in latin america the case of chile s 1998 99 electricity crisis summary this article studies the effect of sectoral crises on policy reform by emphasizing the conflictive incentives generated by public demands for a solution on the one hand the crisis provides the opportunity for bypassing veto points for technical innovation on the other hand if simultaneous with increasing electoral competition it reduces the time horizons of policymakers and their propensity to adopt reforms of uncertain effects for them our research traces these on the chilean 1998 99 electricity crisis and assesses their impact on policy change through a comparative analysis of reform contents this article shows how electoral effects prevailed in the context of upcoming competitive elections suggesting the importance of introducing electoral competition in the study of crises effects on policymaking in the region our research strategy for tracing incentives and opportunities generated by crises can travel to other cases to further our understanding of crises effects on policymaking

coordination versus prisoners dilemma implications for international cooperation and regimes the study of political institutions in general and international cooperation in particular has been beneficially influenced by the prisoners dilemma pd game model but there is a mistaken tendency to treat pd as representing the singular problem of collective action and cooperation by relaxing the assumptions of 2 2 games and developing an alternate model of the coordination game i show how some cooperation problems have very different properties from those found in pd the analytical results of the two games are compared across several important dimensions number of strategies available number of iterations of the game numbers of players and the distribution of power among them the discussion is illustrated with specific problems of international cooperation and the implications of alternative cooperation problems for the formation and performance of international regimes are explored the basic solutions for pd and coordination have divergent ramifications for the institutionalization stability and adaptability of regimes and for the role of hegemony in the international system however the coordination model does not replace the pd model but complements and supplements it as a way to understand the diversity of political institutions these results are widely applicable to areas of politics beyond international relations

addressing the global sustainability challenge the potential and pitfalls of private governance from the perspective of human capabilities contemporary global politics is characterized by an increasing trend toward experimental forms of governance with an emphasis on private governance a plurality of private standards codes of conduct and quality assurance schemes currently developed particularly though not exclusively by tncs replace traditional intergovernmental regimes in addressing profound global environmental and socio economic challenges ranging from forest deforestation fisheries depletion climate change to labor and human rights concerns while this trend has produced a heated debate in science and politics surprisingly little attention has been paid on the effects of private governance on questions of distribution and justice this is highly problematic at the beginning of the twenty first century global inequalities are greater than ever before while rapid economic social political and environmental changes threaten to further derail sustainable development and humanitarian objectives if private governance creates or intensifies some of the pressing global inequalities e g food security and alleviates others e g environmental degradation from a business ethics perspective we need to know which aspects need to be strengthened and where appropriate interventions are necessary and desirable this paper proposes a framework to examine and classify the distributive outcomes of private governance institutions through the lenses of one particular approach to distributive justice the capability approach empirically it focuses on agrifood one area where the controversy regarding the distributive concerns of private governance are particularly pronounced

targets for global climate policy an overview a survey of the economic impact of climate change and the marginal damage costs shows that carbon dioxide emissions are a negative externality the estimated pigou tax and its growth rate are too low to justify the climate policy targets set by political leaders a lower discount rate or greater concern for the global distribution of income would justify more stringent climate policy but would imply an overhaul of other public policies catastrophic risk justifies more stringent climate policy but only to a limited extent

the obsolescing bargaining model mnc host developing country relations revisited the traditional bargaining model of mnc host developing country relations has become obsolete today those relations are better understood as the result of a two tier multi party bargaining process tier 1 bargaining between the governments of host and home countries occurs bilaterally or through multilateral institutions it produces macro rules on fdi that affect micro negotiations in tier 2 per the traditional bargaining model the extent of fdi liberalization resulting from tier 1 bargaining varies predictably across home host country pairs and industries suggestions for testing the two tier bargaining model are also presented

regulation of privatized utilities the chilean experience abstract the privatization of chile s public utilities has led to substantial new investment and improvements in internal efficiency however the limited information available to regulators combined with their insufficient technical capacity have combined to prevent efficiency increases being fully passed on to consumers in price reductions in fact drastic price cuts have occurred only where competition has emerged so achieving competition wherever possible should be the main policy goal competition can be enhanced by either modifying existing regulations as happened in long distance telecommunications or by a more active antitrust policy to achieve this the regulatory institutions clearly need strengthening

regionalism in a multilateral world recent regional initiatives have been addressed from a vinerian perspective of trade creation and trade diversion this is true of both policy oriented economists who tend to be critical of the initiatives and theorists who have added dynamic and gametheoretic elements to the vinerian structure this paper describes the stylized facts of much recent regional integration and develops an alternative model the analysis suggests that regional integration far from threatening multilateral liberalism may in fact be a direct consequence of the success of past multilateralism and an added guarantee for its survival

myth and reality of pension reform the latin american evidence abstract starting in 1981 with chile to the end of 2000 10 countries in latin america implemented structural pension reforms totally or partially privatizing their former public systems the latin american models have shaped similar reforms in eastern europe and influenced changes in western europe and the current debate in the united states in 1999 the then chief economist of the world bank nobel laureate joseph stiglitz coauthored with peter orszag a provocative paper examining the myths of the narrowly interpreted reform model sponsored by the bank but without using crucial data from latin america this article contrasts 12 myths of structural pension reforms in that region with data collected from eight countries in the last seven to 20 years confirming and expanding several of orszag and stiglitz s conclusions

global communications and national power life on the pareto frontier regime analysis has focused on issues of market failure the resolution of which depends upon knowledge and institution building global communications regimes however have been concerned either with issues of pure coordination or with coordination problems with distributional consequences outcomes have been decided by the underlying distribution of national power in those areas where power was asymmetrically distributed and there was no agreement on basic principles and norms radio broadcasting and remote sensing no regime was formed in those areas where distributional issues could not be unilaterally resolved allocation of the radio spectrum and telecommunications regimes were created although both principles and rules changed with alterations in national power capabilities

the economics of medicare equilibrium within the medical community this paper partially fills a theoretical void by developing an integrated model of the various branches of the medical community a consistent and general framework is adopted to analyze equilibrium within the market for medical services under a stylized form of socialized medicine without invoking demand shifting the optimization problem faced by each agent is specified and the equilibrium is defined the effect of various parameter changes on the market for medical services is analyzed the predictions are not contradicted by the stylized facts

exporting financial institutions management via foreign direct investment mergers and acquisitions we test the relevance of the new trade theory and the traditional theory of comparative advantage for explaining the geographic patterns of international m as of financial institutions between 1985 and 2000 the data provide statistically significant support for both theories we also find evidence that the u s has idiosyncratic comparative advantages at both exporting and importing financial institutions management