Global Competition and Integration

Preface. Section I: World Trade and Competition. 1. A Coming Erosion of Advanced Nations' Well-Being from World Trade? P.A. Samuelson. 2. Free Trade vs. Strategic Trade; G.M. Grossman, G. Maggi. 3. Transport Costs and Patterns of International Trade; H. Hori. 4. Consequentialism and Procedural Evaluations in Social Welfare Judgements; K. Suzumura. 5. On the Efficiency and Stability of Networks; K. Kawamata. 6. Expanding the Purchase of a Foreign Intermediate Good; J. Ishikawa. Section II: Innovation and Growth. 7. Estimation of Biased Technical Progress; R. Sato, et al. 8. Imitation and Innovation in Complex Markets; J. Bessen, E. Maskin. 9. Hypotheses on Routinization of Innovation; W.J. Baumol. 10. Technology and Profit under Global Monopolistic Competition; T. Neghishi. 11. New Derivation of Conservation Laws; F. Mimura, et al. 13. Productivity Gap and Economic Growth under Increasing Returns; K. Mino. 13. Environmental Externalities and Growth; T. Ihori. Section III: Financial Markets and Globalization. 14. What Happened to Asia? P. Krugman. 15. International Factors in the Recessions of the Early Nineties; D.K. Backus, J. Gali. 17. Empirical Analyses of Exchange Rate Arrangements; M. Kawai, S. Akiyama. 18. The Structure of Risks and the Portfolio of Pension Funds; S. Ishida. 19. Emerging Markets in History: The United States, Japan, and Argentina; R. Sylla. Section IV: Regulation, Distribution and the Role of the Government. 20. Competition in Distribution Channels; K.G. Nishimura, Y. Nakayama. 21. The Deregulation of the Telephone Industry; L.J. White. 22. Exchange Rates, Retail Prices, and Market Structure; F. Goto, et al. 23. Population Aging and Dependency Burden; H. Sagaza. 24. Nation States and Multinational Business in the Global Reach; N. Suzuki, T. Kaizoji.

Ryuzo Sato is a C. V. Starr Professor Emeritus of Economics at the Stern School of Business, New York University. He was director of the Center for Japan U.S. Business and Economic Studies at the Stern School. Prior to becoming a Stern faculty member, he was a professor of economics at Brown University. Professor Sato also taught at Harvard University, The University of Tokyo, Kyoto University, and Bonn University. He was the founding chief editor of Japan and the World Economy, an international theory and policy journal. For more than 40 years, Professor Sato has divided his time between Japan and the United States, and he conducts research, gives lectures, and writes on the subject of Japan U.S. relations. Professor Sato, who was a Fulbright Scholar, received his B.A. in economics and his Dr. Economics from Hitotsubashi University in Tokyo, and his Ph.D. in economics from Johns Hopkins University. His principal areas of research interest are mathematical economics and economic growth.