INTERNATIONAL BUSINESS AND DEVELOPMENT ECONOMICS: A WINNING COMBINATION Generating a World’s View based on Buckley and Casson and Hirschman’s Books

Much of the discussion in economics is concerned with growth. Economic growth can be discussed and measured in terms of a national state. It can be also discussed and measured in terms of a corporation, (often using the term value rather than growth). Development Economics is concerned with growth of countries run by governments; International Business is concerned with the behavior and the value of multinational enterprises run by management. This paper is about the interface between the two. The vehicle used in this paper to explore the interface is a comparative analysis between two very influential books; “The Strategy of Development” by Hirschman, (1958), and the “Future of the Multinational Enterprise” by Buckley and Casson, (1976). The main argument of the paper is that Development Economics and International Business do approach a very similar issue, but they do it from two different dimensions perpendicular to each other. Looking at the whole picture, (the matrix as a whole rather than along the two separate vectors), gives the observer a more meaningful picture. This is done in the paper through a critical comparison of the two texts focusing on the two dimensions on internalization, growth and internalization, investment choices and strategies, and multinational enterprises and the dynamics of development.http://deepblue.lib.umich.edu/bitstream/2027.42/40111/3/wp725.pd

IMPORTING HIGH-RISK CAPITAL AND REVEALING HIDDEN COMPARATIVE ADVANTAGES

The comparative advantage of a country is determined by its factor intensity. In many cases factors of production can be accumulated over time and thus effect a change in the comparative advantage of a given country. The changes in the accumulation of factors can be a policy decision, or it can arise from other economic developments. The change in the comparative advantage of Israel in the last decade of the 20th century where the country has become a center for innovative new technology was affected by the globalization of the US capital market and the ability of Israeli companies and service organization to build an informational infrastructure that has made it possible to import high-risk specific sector capital to Israel. Importing this type of capital has completed the already existing human capital and makes a potential, hidden, advantage into a business reality. The Israeli experience is evidence to the contribution of international capital movements to economic growth of a small country. It also shows the relations between the international finance model of capital movements and the development economics case for the changing pattern of the comparative advantages of small countries, and the contribution of the capital markets to the process.http://deepblue.lib.umich.edu/bitstream/2027.42/40110/3/wp724.pd

A path to in-space welding and to other in-space metal processing technologies using Space Shuttle small payloads

As we venture into space, it becomes necessary to assemble, expand, and repair space-based structures for our housing, research, and manufacturing. The zero gravity-vacuum of space challenges us to employ construction options which are commonplace on Earth. Rockwell International (RI) has begun to undertake the challenge of space-based construction via numerous options, of which one is welding. As of today, RI divisions have developed appropriate resources and technologies to bring space-based welding within our grasp. Further work, specifically in the area of developing space experiments to test RI technology, is required. RI Space Welding Project's achievements to date, from research and development (R&E) efforts in the areas of microgravity, vacuum, intra- / extra- vehicular activity and spinoff technologies, are reviewed. Special emphasis is given to results for G-169's (Get Away Special) microgravity flights aboard a NASA KC-135. Based on these achievements, a path to actual development of a space welding system is proposed with options to explore spinoff in-space metal processing technologies. This path is constructed by following a series of milestone experiments, of which several are to utilize NASA's Shuttle Small Payload Programs. Conceptual designs of the proposed shuttle payload experiments are discussed with application of lessons learned from G-169's design, development, integration, testing, safety approval process, and KC-135 flights

The potential of a GAS can with payload G-169

The feasibility of using welding for the construction, expansion and emergency repair of space based structures is discussed and the advantages of gas tungsten arc welding (GTAW) over other welding techniques are briefly examined. The objective and design concept for the G-169 Get Away Special payload are described. The G-169 experiment will allow the comparison of a space GTA welded joint with a terrestrial GTA welded joint with all parameters held constant except for gravitational forces. Specifically, a bead-on-plate weld around the perimeter of a 2 inch diameter stainless steel pipe section will be performed. The use of Learjet microgravity simulation for the G-169 and other Get Away Special experiments is also addressed