Excessive fiscal spending is commonly cited as a primary cause of the current European sovereign debt crisis. We develop an alternative hypothesis which better accounts for systemic differences towards EMU countries’ exposure to market speculation: the rise of competitiveness imbalances which...

This paper discusses the adjustment of large firms in France, in particular how they regionalized their production structures in the 1980s. Throughout the "Golden Age," large firms had geographically reorganized their activities: strategic planning remained in Paris, while the actual production...

Most accounts of business coordination assume historically given conditions for this to emerge. Business coordination is therefore difficult, perhaps impossible, to construct endogenously. This paper examines a process of ‘endogenous coordination’ through an analysis of reindustrialization...