No significant impetus to greater economic policy co-ordination

Institutions, Markets and Economic Co-ordination: Linking Development Policy to Theory and Praxis

This article explores policy applications of ‘new institutional economics’ theory in relation to markets and economic development. It argues for application of an analytical framework which instead of looking at institutions primarily in terms of their contributions to making competitive markets work better, sees such markets as one form of institution fulfilling exchange and co-ordination func...

Does a Monetary Union Require International Fiscal Policy Co-ordination?

I n the debate over the set up of a single European currency, one of the principal areas of concern has been the implication of a single currency for the behaviour of sovereign fiscal authorities, and the possible need to con­ strain this behaviour. 1 The importance of this problem wil l clearly depend upon the degree of effective independence that a European Central Bank can establish. However...

Independence and Co-ordination –

* The views expressed in this paper are personal. Most outsiders tend to base their analysis of the future of the Eurosystem on the shape of the Federal Reserve System in the US. This paper argues that the US model is inappropriate. It suggests that the Eurosystem is pursuing a different arrangement, where the balance of power in the national central banks rather than in the centre may continue...

Co-ordination and Specialisation

This paper addresses the problem of division of labour as an evolutionary process in which co-ordinated agents attempt problem-solving as a search in problem space. Co-ordination stress and learning trigger adaptation but as complexity rises radical solutions are sought prompting radical organisational as well as technological change. The analytical issues involved are further explored by resor...

Co-ordination Patterns & Functional Recovery