Cover

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Frontmatter

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Contents

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1. Introduction: Competitiveness Matters

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pp. 1-28

In a series of widely read articles and books published over the last several years, Krugman (1994, 1996) decries what he regards as a "dangerous obsession" with international competitiveness, a trend he refers to as "pop internationalism." ...

I. Trade, Macro Policy, and Competitiveness

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2. The Trade Deficit and U.S. Competitiveness

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pp. 31-67

The U.S. merchandise trade balance soared to $132 billion in 1993, the highest level since the record of $160 billion in 1987.1 Although the large trade deficits of the late 1980s were widely attributed to an overvalued dollar, the dollar has depreciated substantially since...

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3. Improving U.S. International Competitiveness: Macro Policy Management vs. Managed Trade Policy

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pp. 68-86

A classic debate among economists and policymakers is under way on how to improve U.S. competitiveness, particularly as measured in the international arena. Macroeconomists argue that U.S. international competitiveness is a function of savings and investment and the mix of fiscal and monetary policy. ...

II. Competitiveness and Financial Markets

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4. The Anglo-Saxon Market for Corporate Control: The Financial System and International Competitiveness

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pp. 89-105

This chapter was completed in 1995 at a time when there was a great deal of concern among academics as well as the business community about the international competitiveness of U.S. corporations. The MIT Commission on Industrial Productivity had found that the U.S. corporations had abandoned a whole range of industries to foreign...

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5. American Corporate Finance: From Organizational to Market Control

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pp. 106-124

Over time, the innovation process and the learning process that is its social substance have become increasingly collective and cumulative, and hence organizational (O'Sullivan 1996; Lazonick and O'Sullivan 1996b). Our perspective on industrial development identifies organizational integration and financial commitment as the social conditions...

III. Competitiveness and Technology Policy

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6. Can Technology Policy Serve as Industrial Policy?

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pp. 127-144

In the 1990s, U.S. policymakers have formally placed technology policy on the national economic agenda. With accession of Clinton to the presidency, initiatives begun by the Congress, the Department of Defense's Defense Advanced Research Projects Agency, and Bush's science adviser have grown into multibillion dollar programs for dual...

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7. Does the United States Need a Technology Policy?

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pp. 145-162

The unchallenged U.S. position of industrial and technological leadership in the three decades following World War II has dissipated over the past two decades, leaving U.S. firms to make their way in a world where foreign competitors have the capital, human resources, and government support necessary to prevail in competitive struggles with U.S. industry. ...

IV. Competitiveness and Industrial Policy

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8. A High-Road Policy for U.S. Manufacturing

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pp. 165-179

A series of epoch-making (or, more accurately, epoch-ending) events in the early 1970s changed U.S. manufacturing forever. The freeing of the dollar from gold in 1971 and the sudden (albeit temporary) jump in the prices of oil and other energy feedstocks are the macroeconomic highlights, but not the decisive changes for companies that made manufactured...

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9. U.S. Competitiveness and Economic Growth

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pp. 180-205

In the introduction to this book, Howes and Singh (1999) argued that there are good analytical and empirical reasons for the view that relative productivity growth and the relative competitiveness of a country's export sector matter profoundly to its overall economic performance. ...

Contributors

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p. 207