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Randall Yim of the U.S. Government Accountability Office urges companies to get involved in homeland defense.

Ecuador's main industry is petroleum, which generates half of export earning, finances much of the government budget, and employs directly more than 12,000 people in a country of 14 million people. The oil was discovered by foreign oil companies, produced and distributed largely by them until a national company was created in 1974, and is exported to them by the government-owned company and by the remaining companies operating in Ecuador. Relations between the companies and the government have been quite turbulent, with the government taking partial ownership of the main company in 1974, buying out Gulf Oil a year later, and finally taking Texaco's share in 1992. Only medium-sized and small foreign oil companies remain, since the opportunities in Ecuador are limited, and the government has proven unreliable in its regulation of the firms. This case describes the process through which a second oil pipeline was built in 2001 to transport oil from the jungle to the coast, and the dealing between the companies and the government during that process. Even in 2004 there were several major unresolved issues that left government-company relations on very conflictive terms.

Provides a broad overview of economic and political developments in Spain from the 1940s to the present day. Examines the emergence of Spain from the Franco dictatorship and its convergence into a vibrant democracy, as reflected in the surprising election results of 2004. Also describes the economic transformation of Spain and permits discussion of the interrelationships between the economic and political dynamics. Highlights the role the European Union (EU) played as an inspirational goal and institutional constraint on how Spain developed both economically and politically. Discuses in greater detail the Spanish labor market and the evolution of unemployment levels in Spain. Also looks at the role of terrorism in a society such as Spain's, with reference to both the Basque separatist terrorism of ETA and the international terrorism associated with the Atocha station bombings in 2004.

This is an MIT Sloan Management Review article. Although large-scale risks such as war, terrorism, and natural disaster garner media attention, it is the everyday, small-scale risks associated with opacity--a lack of transparency in countries' legal, economic, regulatory, and governance structures--that can confound global investment and commerce. The authors offer new research that identifies the causes and measures the effects of this phenomenon across 48 countries. The research draws upon 65 objective variables from 41 sources, including the World Bank, the International Monetary Fund, the International Securities Services Association, the "International Country Risk Guide," and country regulators. The authors' methodology projects which aspects of a country's economy carry the greatest risk and then, by assessing and comparing the costs of those risks on a country-by-country basis, they create an overall Opacity Index. Next, they correlate the Opacity Index to a variety of other indicators, including a country's income level, economic development and foreign investment, entrepreneurship, and access to capital and lending and equity markets. The authors conclude that opacity strongly correlates overall with slower growth and less foreign direct investment in nearly all markets, and they suggest how information about opacity and its contributing factors can enhance both managerial and national policy decisions alike.

In a gradual but profound transition, New York's park system had become dependent on private partners. The private sector's involvement was pervasive by 2003, but came in very different forms. This case, a companion to "Adrian Benepe's Challenge," highlights specific items to map the spectrum of engagement ranging from contracts where government is clearly in control, to philanthropy where government is mostly passive, to a range of complex collaboration in between. The five points of focus are: ·Outsourcing much of the maintenance of the Parks Department's fleet of vehicles; ·The evolution of the Central Park Conservancy from an informal group of volunteers to a sophisticated and well-funded non-profit with full responsibility for managing New York's flagship park; ·Bryant Park's transformation from a drug market to a glittering landmark, under the auspices of a private corporation subject to only limited Parks Department influence; ·The emergence of the Bronx River Alliance, comprising dozens of public and private organizations, as steward for the troubled river and the lands on its banks; ·The single-minded (and almost single-handed) campaign of the entertainer Bette Midler to realize her unique vision for a public park in a rough area of Harlem. HKS Case Number 1744.0

Brazil has just won a cotton case action against the U.S. cotton agriculture program at the World Trade Organization. What does this mean for future agricultural programs in the United States? For future trade policies of the United States, Brazil, and others in the global agribusiness system? The future role of the WTO? Negotiation through litigation? Developed versus developing country trade policies?

Tells the story of the Czech transition from a centrally planned to a free market economy, describing the first economic reforms, the fixed-exchange rate regime, and the voucher privatization. Also explains why, in the middle of the 1990s, the Czech Republic liberalized its capital account and how this affected the Czech banking system, leading to a massive credit boom. Explores why Ceskoslovenska Obchodni Banka (CSOB), the country's fourth largest bank, decided not to participate in the credit boom and how CSOB determined and pursued its expansion strategy. Students assume the position of Pavel Kavanek, CSOB's CEO who, in June 2000, must decide whether CSOB should acquire IPB, another large Czech bank on the brink of bankruptcy.

Supplements the (A) case.

This note offers an introduction to reorganization procedures within the U.S. bankruptcy law from a business perspective. It can be used to explore the strategic dimensions of bankruptcy procedures and to set the stage for UV3875.

Explains when to apply the conventional and midpoint elasticity theorems and how to interpret the results.

In 1938, the Mexican government expropriated the assets of foreign oil companies. Explores the legal and moral arguments in favor of and against expropriation.

Ireland has experienced rapid economic growth in the last 15 years, in part because of its successful effort to attract foreign direct investment (FDI). The government agency responsible for this effort, originally called the Industrial Development Authority (IDA), has been restructured and is now divided into three organizations: Forfás (charged with coordinating Ireland's economic development strategy); IDA Ireland (responsible for investment promotion); and Enterprise Ireland (charged with promoting the development of indigenous industry). Now that Ireland has reached full employment and salaries and other operating costs have risen, the country is no longer competitive as a low-cost investment location in Europe for manufacturing and service industries. As a result, Forfás must decide how to deal with this situation.

This case is intended for a broad range of student/executive audiences, and has the ability to be used successfully in a number of courses. It can be used in courses in international economics, international finance, international political economy, financial risk management, and regional courses focusing on the politics or economies of emerging markets/Latin America. Ideally, students/executives would have had macro- and microeconomics; however, I have found that students/executives with neither of these courses have still performed well in the case analysis. It is a challenging case study and is particularly useful in an MBA or executive MBA course, but can be taught successfully in advanced undergraduate courses.

Concerns the growth of multinational trading companies in the first global economy. Examines two Scottish-owned merchant houses, Jardine Matheson and James Finlay, and shows their changing trade and investment strategies as well as their use of an organizational form later known as business groups. Also demonstrates the role of ethnic networks in globalization during this historical period. A rewritten version of an earlier case.

Summarizes several of the major federal environmental statutes, most notably the Comprehensive Environmental Response, Compensation and Liability Act ("CERCLA" or "Superfund"). Also discusses several state and local regulations.

The establishment of the principal-agent relationship, the duties owed by the agent to the principal, and the principal's liability for illegal actions or representations made by the agent are all examined. Also covers the creation of partnerships and the duties of partners to one another.

Begins with a brief overview of the bankruptcy process, discussing key debtor protections and the administration of claims against the estate. Discusses the treatment of bankruptcies filed by property owners. Also summarizes the tenant's bankruptcy protections and powers relating to the creditor-landlord. Ends with a brief comparison of international bankruptcy regimes.

After suffering years of volatility and crises, Turkey desperately sought macroeconomic and political stability in an ever-worsening region of the world. In the short term, Turkey had to repay its debt, which amounted to more than 80% of GDP. By January 2004, Turkey had entered the final stages of the IMF's latest $17 billion loan program. Each review required that Turkey meet specific goals of monetary control (e.g., reducing inflation), restructuring the banking sector, reforming the public sector, and increasing privatization. The country's long-term goal, joining the European Union, would be reached only if the EU's required criteria were met. Elected in November 2002 and the first absolute majority in Parliament in 15 years, the AKP party promised to meet both IMF and EU requirements. Although his AKP party had Islamic roots, Prime Minister Erdogan planned to prove that Turkey was a stable, secular democracy. After Turkey met the EU's requirements, the question remained: Would the EU's "Christian club" accept a Muslim Turkey?

China's economic rise became one of the most important stories in the world economy once the Chinese economy began to open to the rest of the world in 1979. However, this rise was not evenly distributed across all of China's regions. By 2003, some regions had emerged as clear leaders in the economic development process, while others lagged far behind. A variety of forces also prevented the People's Republic of China from being a single national market of 1.3 billion people, and the national economy was perhaps better described as a set of coupled regional markets. Politically, China was not a monolith either. Competition between regions and between individual jurisdictions had been played out in the corridors of power in Beijing as well as in the regions themselves, as locations vied for investment and positions in the market. Understanding China's regional economies became virtually a prerequisite for success for economic policy and firms' strategies in China.

There are many options for a country in the management of monetary policy. At the most basic level is the decision of whether to adopt a fixed or a floating exchange rate. Introduces the economics behind exchange rates and the debate between fixed vs. floating regimes.