Part 1 Global Growth, Inequality, Saving, Investment and Indebtedness -- 1 The Genesis of the Current Global Economic System / Irma Adelman 3 -- 2 Trends in Intercountry Income Differences: World Levels and Decomposition Between and Within Regions / Amnon Levy-Livermore, Khorshed Chowdhury 29 -- 3 External Debts and their Implications for Economic Growth / Khorshed Chowdhury, Amnon Levy-Livermore 63 -- 4 Foreign Direct Investment and Economic Growth in Selected LDCs, 1963-92 / Akorlie A. Nyatepe-Coo 87 -- 5 Globalized Investing and the Political Risk Aspects of International Sovereign Debt and Foreign Direct Investments / Boon-Chye Lee, John G. Powell 100 -- 6 Trends in the Pattern of Foreign Direct Investment: the Case of the Asia-Pacific Region / Chung-Sok Suh, Jung-Soo Seo 123 -- 7 The Role of Multinational Corporations in Globalizing the World Economy: Evidence from Affiliates of US Multinational Companies / Bijit Bora 147 -- 8 The Socially Optimal Level of Saving -- An International Comparison / Ross S. Guest, Ian M. McDonald 168 -- Part 2 Regionalization and Globalization of Trade -- 9 From Bretton Woods to the World Trade Organization and the Formation of Regional Trading Blocs / Joan R. Rodgers 199 -- 10 Trade Regimes and GATT: Resource-Intensive versus Knowledge-Intensive Growth / Graciela Chichilnisky 226 -- 11 European Unification: Between Reality and Myth / Charles Harvie 250 -- 12 Trade Liberalization in the Asia-Pacific Region / George Fane 298 -- 13 APEC Without South Asia / A.D.V. de S. Indraratna 318 -- Part 3 From Centrally Planned to Market Economy -- 14 Institutional and Policy Aspects of Transition: An Empirical Analysis / Irma Adelman, Dusan Vujovic 343 -- 15 A Macroeconomic Analysis of Economies in Transition / Max Gillman 386 -- 16 The Transition of the Centrally Planned Economies in Eastern Europe to Market Economies: the Cases of the Czech Republic, Hungary and Poland / Charles Harvie 411 -- 17 Labour Issues in the Former Centrally Planned Economies in Eastern Europe / Raymond Markey 453 -- 18 The Transition of Centrally Planned Economies in East Asia into Market Economies / Charles Harvie 481 -- Part 4 Internationalization and Integration of Markets -- 19 International Exchange-Rate Movements and their Effects on Prices, Balance of Payments, Output and Employment / Anthony G. Webber 517 -- 20 Internationalization and Integration of Financial and Capital Markets / Christopher Adam 557 -- 21 Relationships between Equity Markets in the Asia-Pacific Region / Tony Naughton 582 -- 22 Integration of Market Economies and the Rights of Labour: International Regulation of Labour Standards / Robert Castle, D.P. Chaudhri, Chris Nyland 596 -- 23 Agricultural Trade Liberalization: Regionalism versus Multilateralism / Carolyn Tanner, Alan Swinbank 619 -- Part 5 Global Environmental and Resource Problems -- 24 Emissions, Externalities and Economic Instruments in a Global Context / Ann Hodgkinson 651 -- 25 Trends in Energy Sources, Prices, Regulations, and Technology, and their Implications for Global Growth and Pollution / Peter Berck, Michael B. Ward 680 -- 26 The Implications of North-South Trade for Natural Resource Depletion and Environmental Degradation / Larry Karp, Sandeep Sacheti 702.