Download Free Global Competition In Capital Goods Book in PDF and EPUB Free Download. You can read online Global Competition In Capital Goods and write the review.

The capital goods industries--machinery, electrical and electronic equipment, transport equipment (except automobiles), and instruments and related equipment--provide more than one-third of total U.S. exports. But in the past twenty years, these industries have displayed a continual weakening of their competitive position. In this study, Robert Eckley investigates this leading sector of the American economy and its competition for global markets by concentrating on case studies of seven companies that represent the principal segments of the capital goods industries. The approach that Eckley takes is an empirical one, utilizing the experience of IBM, Boeing, General Electric, Eastman Kodak, Caterpillar, Cummins, and Cincinnati Milacron to illustrate the developments that have occurred in this sector of the world economy. The companies are all leaders within their industries, and also offer a representative variety of the products, processes, and labor organizations found in the capital goods industries. Following a detailed introduction, Eckley devotes one chapter to each of the seven companies, seeking out commonalities within the larger capital goods sector and drawing conclusions about costs, markets, and organizational and managerial practices. A concluding chapter focuses on the keys to regaining American leadership: increasing capital investment, remedying educational deficiencies, and improving business decisions. Marketing and planning executives in international business will find this work to be an invaluable resource, as will students in business and public policy courses.
Early in the twenty-first century, a quiet revolution occurred. For the first time, the major developed economies began to invest more in intangible assets, like design, branding, and software, than in tangible assets, like machinery, buildings, and computers. For all sorts of businesses, the ability to deploy assets that one can neither see nor touch is increasingly the main source of long-term success. But this is not just a familiar story of the so-called new economy. Capitalism without Capital shows that the growing importance of intangible assets has also played a role in some of the larger economic changes of the past decade, including the growth in economic inequality and the stagnation of productivity. Jonathan Haskel and Stian Westlake explore the unusual economic characteristics of intangible investment and discuss how an economy rich in intangibles is fundamentally different from one based on tangibles. Capitalism without Capital concludes by outlining how managers, investors, and policymakers can exploit the characteristics of an intangible age to grow their businesses, portfolios, and economies.
Over the past three decades, the price of machinery and equipment fell dramatically relative to other prices in advanced and emerging market and developing economies. Using cross-country and sectoral data, we show that the decline in the relative price of tangible tradable capital goods provided a significant impetus to the capital deepening that took place during the same time period. The broad-based decline in the relative price of machinery and equipment, in turn, was driven by the faster productivity growth in the capital goods producing sectors relative to the rest of the economy, and deeper trade integration, which induced domestic producers to lower prices and increase their efficiency. Our findings suggest an additional channel through which rising trade tensions and sluggish productivity could threaten real investment growth going forward.
The results of the empirical investigation of Japan and Korea show that the user firms in both countries, represented by car makers, have involved themselves in the technical and entrepreneurial entry into machine tools along with making active investments. As a consequence, they made a considerable contribution to the innovation of machine tools, increasing their competitive advantage as well as the competence of their specialized suppliers.
In this paper we demonstrate the importance of distinguishing capital goods tariffs from other tariffs. Using exposure to a quasi-natural experiment induced by a trade reform in Colombia, we find that firms that have been more exposed to a reduction in intermediate and consumption input or output tariffs do not significantly increase their investment rates. However, firms’ investment rate increase strongly in response to a reduction in capital goods input tariffs. Firms do not substitute capital with labor, but instead also increase employment, especially for production workers. Reduction in other tariff rates do not increase investment and employment. Our results suggest that a reduction in the relative price of capital goods can significantly boost investment and employment and does not seem to lead to a decline in the labor share.
The increasing globalization of production and the conservative agenda for market-led growth are dramatically affecting the life of the average Canadian and the choices made by social and economic policy makers. As Daniel Drache, Meric Gertler, and the contributing authors show, the worldwide reorganization of markets poses new challenges for domestic industry while continental trade initiatives threaten the livelihood of Canadian workers and the stability of communities across all regions of the country. Environmental quality is similarly at risk from development strategies driven more by possibilities of short-term gain from export sales than by attempts to promote long-term sustainability.
Articulations of Capital offers an accessible, grounded, yet theoretically-sophisticated account of the geographies of global production networks, value chains, and regional development in post-socialist Eastern and Central Europe. Proposes a new theorization of global value chains as part of a conjunctural economic geography Develops a set of conceptual and theoretical arguments concerning the regional embeddedness of global production Draws on longitudinal empirical research from over 20 years in the Bulgarian and Slovakian apparel industries Makes a major intervention into the debate over the economic geographies of European integration and EU enlargement
This paper studies the macroeconomic effect and underlying firm-level transmission channels of a reduction in business entry costs. We provide novel evidence on the response of firms' entry, exit, and employment decisions. To do so, we use as a natural experiment a reform in Portugal that reduced entry time and costs. Using the staggered implementation of the policy across the Portuguese municipalities, we find that the reform increased local entry and employment by, respectively, 25% and 4.8% per year in its first four years of implementation. Moreover, around 60% of the increase in employment came from incumbent firms expanding their size, with most of the rise occurring among the most productive firms. Standard models of firm dynamics, which assume a constant elasticity of substitution, are inconsistent with the expansionary and heterogeneous response across incumbent firms. We show that in a model with heterogeneous firms and variable markups the most productive firms face a lower demand elasticity and expand their employment in response to increased entry.
Recent events in the global financial markets and macro economies have served as a strong reminder for a need of a coherent theory of capitalist crisis and analysis. This book helps to fill the gap with well-grounded alternative articulations of the forces which move today's economic dynamics, how they interact and how ideas of foundational figures in economic theory can be used to make sense of the current predicament. The book presents a comprehensive collection of reflections on the origins, dynamics and implications of the interlinked crises of the U.S. and global economies. The book is a thoughtful collaboration between Japanese heterodox economists of the Japan Society of Political Economy (JSPE) and non-Japanese scholars. It provides a unique immersion in different, sophisticated approaches to political economy and to the crisis. The book illustrates with the understanding of Marx's crisis theory and how it can serve as a powerful framework for analyzing the contemporary sub-prime world crisis. The book explains the subprime loan crisis as a crisis in a specific phase of the capitalist world system and concludes that it is a structural one which destroys the existing capital accumulation regime. It pays attention to structural changes and to how these changes beget profound and controversial consequences. The result is a must-read - one which truly contributes to the resurgence of radical analyses of the political economy, free from the market optimism of the main-stream economics.