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This collection presents the most important published articles on barter and countertrade from early scepticism to the recent sophisticated theoretical models and empirical evidence. The papers selected focus upon the policy and managerial implications of barter and countertrade and the reasoning behind these arrangements in an environment characterized by transaction difficulties. They demonstrate that appropriately designed transactional governance is crucial for the efficiency of successful trading relationships between different parties. "The Economics of Barter and Countertrade" is a timely collection due to the resurgence of barter and countertrade following the Russian and Asian financial crises. It is a valuable reference source for those with an interest in trade and international economic relations.