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Assesses and appraises New Zealand’s economic restructuring between 1984 and 1994. Provides an historical overview of the country’s economic performance and looks at past governmental policies. Examines the impact of the return to power of the Labour Party in 1984 and provides a broad chronology of the reform measures as they have evolved. Examines the compatibility of micro‐ and macro‐economic policies and then looks at possible achievements.

Notes that macro‐economic policy faces the same challenges in both developing and post‐socialist economies: to reduce inflation while achieving or maintaining stable economic growth. Moreover, there are developing countries like Argentina which succeeded in overcoming a type of institutional chaos which comes quite close to what is to be observed in post‐socialist countries. By looking at the theoretical concept and by its implementation in Argentina, examines the main advantages and flaws of an exchange rate anchor. Shows that this is a high risk strategy for post‐socialist countries which needs radical complementary reforms in order to be effective and to minimize risks. Suggests that credibility cannot be imported.

The purpose of this study is to contrast the discount and the Fed funds rates since 1990 and the variables that influence these rates. On the basis of quarterly data, since 1990, the primary determinants of the two policy rates are: the rate of inflation, the unemployment rate and rates on US Treasury securities, i.

Ordinary least squares models are developed with autocorrelation removed.

12 per cent level in the Fed funds market rate models. The statistical significance of the coefficient of the spread between long-term and short-term Treasury rates is a projection of a recession one year in the future. The statistical significance of the coefficients for unemployment, one and two quarter the autocorrelation coefficients, adjusted R-square values and Durbin-Watson statistics are similar for the two policy rate models.

The major limitation is that monthly data are not available for further tests.

The two Fed policy rates respond differently to the impacts of inflation, unemployment and yield curve tilts.

Expected recessions, reflected by the yield curve are not often anticipated.

The approach and results have a different perspective from the work in most studies involving Federal Reserve policy rates.

Aims to examine the issue of industrial strategy (IS), paying particular attention to the case of Britain. Sets out to assess the possibility and nature of an industrial strategy for Britain, in Europe, and within the global scene, taking into account the world we live in as we see it. Accordingly, the perspective is driven and shaped by a quest for a realistic, feasible and sustainable industrial strategy. In order to achieve these objectives, first examines the theoretical arguments behind much of British, and more generally, Western industrial policies. Following this, outlines and assesses British industrial policy post‐Second World War then compares and contrasts British industrial policy with that of Europe, the USA, Japan and the newly industrialized countries. Then examines recent developments in economics and management which may explain the “Far Eastern” miracle, and points to the possibility of a successful, narrowly self‐interested, IS for Europe and Britain, based on the lessons from (new) theory and international experience. To assess what is possible, develops a theoretical framework linking firms in their roles as consumers and/or electors. This hints at the possibilities and limits of feasible policies. All these ignore desirability which, in the author′s view, should be seen in terms of distributional considerations, themselves contributors to sustainability. Accordingly, discusses a desirable industrial strategy for Britain in Europe which accounts for distributional considerations, and goes on to examine its implications for the issue of North‐South convergence. Concludes by pointing to the limitations of the analysis and to directions for developments.

The reason that the ten‐year reform has encountered difficulties is not that there are mistakes in the overall target to develop a commodity economic system, but that the decision makers cannot understand properly the nature and structure of the commodity economic system and its market mechanism. They take it for granted that a highly efficient market mechanism will be formed if we practise “letting the enterprises make their own business operation decisions and share the profits with the government” on the basis of the original highly centralised product economic system, and they always try to combine the two incompatible systems of product economy and commodity economy. The radical reason that these two systems cannot be combined is that their ownership‐profit structures are mutually incompatible. The economic targets of the government, the enterprises, and the individual workers must be rectified.

Argues that the contributions to the European Union are unevenly distributed among the Member States and that Structural Policies have grown out of proportion. The size of the Structural Funds is counterproductive, while the principles on which they are based are subject to severe criticism. Proposes improvements in five areas: the application of macroeconomic conditions and time limits, reductions in the size of the budget, the introduction of feasibility studies and appraisals, the use of loans instead of subsidies and a return of the responsibility for regional policy to the national governments.

Seeks to highlight the range of potential benefits flowing from neo‐corporatism. Profiles some of the principle critiques of the neo‐liberal orthodoxy followed by a more detailed review of the benefits in terms of limiting inflation, generating employment, promoting greater social equity, reducing the incidence of industrial conflict and providing the basis for a more stable growth trajectory. Considers the area where evidence is lacking and uses previous research for its evidence.

This chapter provides a critical examination of the urban renewal process currently taking place in inner-city Johannesburg. It evaluates the effects of an approach to providing social housing which blends commercial, market-based practices with state intervention and regulation and discusses the implications these competing imperatives have for the area and academic understandings of urban renewal.

Findings are based on a qualitative research process, carried out over 9 months in inner-city Johannesburg. Research involved interviews with property developers, housing providers, government officials, and tenants living in renovated social and affordable housing developments.

The process is contradictory and overburdened, and attempts to fulfill competing goals and agendas. Some developmental ambitions are being realized as the supply of social and affordable housing is expanding. However, the benefits are limited, as poor communities are being displaced and, in many cases, commercial concerns trump social and developmental considerations.

Findings highlight the ways in which a range of political circumstances, policy decisions, and spatial conditions combine to create an approach to renewal which is neither entirely neoliberal nor developmental. The case study complicates narratives which stress the global dominance of neoliberal approaches to urban renewal and demonstrates that alternative developmental ambitions exist alongside commercial practices.

The chapter highlights the ambiguity and hybridity of localized approaches to housing provision. In doing so it adds nuance to debates about urban processes around the globe and draws attention back to the uncertainty, agency, and diversity which are continuously shaping urban societies.

The purpose of this article is to examine, appraise and highlight the significance of promoting innovation in aid of industrial development.

A comprehensive range of published literature is critiqued first to understand why industrial development constitutes a major objective of a country's economic strategy and government policy. Then, through a theoretical review of industrial policy works, relevant issues (e.g. how efficient industrial development sustains economic growth) are highlighted for discussion. For instance, the importance of private sector‐led industrial development and the need to adopt a primary focus on innovation‐driven industrial policy.

By drawing lessons from the developed world, the article explains why industrial policy‐making must address the pursuit of innovation as a prime mover of economic development; and further outlines the role of government in innovation‐driven industrial policy. As a case study, evolutionary perspectives of Singapore's industrialisation process are elaborated to illustrate a government's role in industrial policy‐making.

Future research could provide better guidance to address new emergent challenges of industrial policy‐making.

The discussion on industrial policy issues raised in this article is expected to be of interest to policy makers, industry planners, academic researchers and business practitioners.

This article offers insights into effective industrial policy‐making for developing nations that may help to transform their economies.

This paper is intended to provide a detailed account of foresight activities in Ireland, their methods, means, topics of research, and impact on public debate, together with links to the main web sites.

This paper surveys the institutions and agencies that contribute to futures studies in connection with public policies in Ireland.

The Irish system of raising and producing futures studies resources is thus characterized by a proliferation of authorities with the disadvantage of resources splitting up, but with the advantage of diversity.

Provides an insight into the state of futures research in Ireland.