The world economy is riven by very large imbalances, with the U.S. economy exhibiting high levels of consumption but low savings ratios and a high current account deficit while China provides the mirror opposite. In this paper, we explore the structural causes of these imbalances that underpin...

There is currently a popular view that the world is undergoing profound changes in the fundamental relationships upon which it is organised. In particular, there is widespread talk of a ‘globalised' economy, facilitated by and associated with ‘new' technologies and practices. There is a...

While the onset of recession may lead some oligopolistic firms to engage in price-cutting behavior, we argue this is likely to be only a temporary phenomenon. As the recession deepens, firms will find themselves with (unplanned) excess capacity, which will increase the mutual benefits of...

<title>Abstract</title> Analysis of the recent financial crisis has tended to focus upon “market” and corresponding “regulatory” failures. While this provides important insights, it may neglect deeper issues at the root of recent problems. In this paper, we take a broader perspective, drawing upon the...

T<sc>omlinson</sc> P. R. and J<sc>ackson</sc> I. Cooperative ties and the impact of external factors upon innovation in an industrial district: some insights from the North Staffordshire table and giftware sector, <italic>Regional Studies</italic>. Drawing upon a sample of 118 firms, this paper explores the impact of cooperative...

This innovative and multidisciplinary book explores Japan’s economic crisis and recovery. Specifically, it analyses the role of corporations, the state, macroeconomic and industrial policy, and the changing status of Japan as an economic role model. The contributors list comprises an...

This paper is concerned with two overlapping issues. In the first instance, we consider the apparent tensions between the visible effects of globalization upon the Japanese economy and the claims of successive commentators that novel Japanese production systems of coordination and vertical...

This paper seeks to establish a view of the world within which globalisation and corporate power interact and shape the nature of the modern market economy. Drawing upon a range of theory and evidence, we consider the implications of the growth of transnational firms and concentrated market...

Drawing upon survey data from 436 firms, this paper explores the impact of co-operative ties upon levels of innovation (both product and process) in five UK manufacturing industries. Unlike a number of previous studies in this area, the data itself captures both the scale and multi-dimensional...

This paper explores comparative cost structures when large firms split operations between separate production facilities in a way that puts pressure on wage rates and worker effort levels: one example of a 'divide and rule' strategy. It differentiates horizontal structures of this kind based on...