Overview

This volume brings together leading academic experts from the U.S. and Canada to explore the crucial economic relationship between their two countries--each of whom is the other's largest trading partner. The essays, all specially written for this study, provide an integrated, balanced examination of the strengths and weaknesses inherent in the relationship and discuss reasons for the increasing difficulties experienced in the past few years. An indispensable supplement for courses in international business and regional economics, the study will also provide economists, political scientists, and environmentalists with important new insights into this most critical relationship. Following an overview of the economic structure of the two nations, the contributors focus upon three general areas of Canadian-American economic relations. The section on natural resources and related issues presents an up-to-date view of energy and environmental considerations and explores shared problems of agricultural competitiveness. Turning to a discussion of trade issues, the contributors analyze the effects of the October 1987 accord, address the impact of the U.S. balance of payments position on Canadian economics, and examine ways in which each country can expand its international trade. Finally, a group of essays on taxes, financial markets, and bilateral investment offers an in-depth treatment of issues such as U.S. direct investment in Canadian manufacturing, the development of an integrated North American venture capital market, and investment patters. Numerous tables and figures amplify the discussions.

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Reviews

A very uneven collection of papers delivered at a conference at Kent State one day before the Canada-US Free Trade Agreement was reached in October 1987. Several survey papers of the two countries' economic relations, especially the one by Donald Daly, are well done but mainly will interest novices and general readers. On the other hand, at least one of the more focused papers will be accessible only to graduate economists specializing in public finance. The most interesting papers to the specialist are by Lorraine Eden on tax and tariff reform and their effects on multinational investors (the US tax reform is likely to cause an investment boom in Canada); by Alan Rugman on the trade performance of cross-border investors (US multinationals operating in Canada do more exporting than is widely believed, while Canadian firms operating in the US source a lot of their inputs in Canada); and by Bruce Wilkinson on the unwisdom of a Canada-US free trade agreement. This last contribution contains much with which to disagree, but also offers several interesting ideas about how, free trade or no, Canada can work with other countries to discourage US protectionism. -Choice ?A very uneven collection of papers delivered at a conference at Kent State one day before the Canada-US Free Trade Agreement was reached in October 1987. Several survey papers of the two countries' economic relations, especially the one by Donald Daly, are well done but mainly will interest novices and general readers. On the other hand, at least one of the more focused papers will be accessible only to graduate economists specializing in public finance. The most interesting papers to the specialist are by Lorraine Eden on tax and tariff reform and their effects on multinational investors (the US tax reform is likely to cause an investment boom in Canada); by Alan Rugman on the trade performance of cross-border investors (US multinationals operating in Canada do more exporting than is widely believed, while Canadian firms operating in the US source a lot of their inputs in Canada); and by Bruce Wilkinson on the unwisdom of a Canada-US free trade agreement. This last contribution contains much with which to disagree, but also offers several interesting ideas about how, free trade or no, Canada can work with other countries to discourage US protectionism.?-Choice

?A very uneven collection of papers delivered at a conference at Kent State one day before the Canada-US Free Trade Agreement was reached in October 1987. Several survey papers of the two countries' economic relations, especially the one by Donald Daly, are well done but mainly will interest novices and general readers. On the other hand, at least one of the more focused papers will be accessible only to graduate economists specializing in public finance. The most interesting papers to the specialist are by Lorraine Eden on tax and tariff reform and their effects on multinational investors (the US tax reform is likely to cause an investment boom in Canada); by Alan Rugman on the trade performance of cross-border investors (US multinationals operating in Canada do more exporting than is widely believed, while Canadian firms operating in the US source a lot of their inputs in Canada); and by Bruce Wilkinson on the unwisdom of a Canada-US free trade agreement. This last contribution contains much with which to disagree, but also offers several interesting ideas about how, free trade or no, Canada can work with other countries to discourage US protectionism.?-Choice

Author Information

DAVID L. MCKEE is Professor of Economics at Kent State University. Dr. McKee is a specialist in regional economics and economic development. His research on those subjects has been widely published in professional journals in the United States and abroad.

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