Facing the Era of Great Transformation
​This book collects essays from Chinese economic sage who was the mastermind of the reform and opening and persistent champion of market-driven development. In the essays, he outlines his vision of the systemic reform needed for today's China, from rule of law to completion of the market system and reform of state-owned enterprises. Dr. Wu's thoughts are always of interest, but at this pivotal moment of Chinese economic recalibration, his views will be of more value than ever, to scholars, economists, journalists, and those in civil society.
Foundations for a Humanitarian Economy
The modern global economy and discipline of economics place mathematical calculation above human concern. However, a re-reading of Boethius' The Consolation of Philosophy can positively highlight the contrast in values and spirit of the early medieval European world with our own scientific age.
Handbook of Economic Expectations
Handbook of Economic Expectations discusses the state-of-the-art in the collection, study and use of expectations data in economics, including the modelling of expectations formation and updating, as well as open questions and directions for future research. The book spans a broad range of fields, approaches and applications using data on subjective expectations that allows us to make progress on fundamental questions around the formation and updating of expectations by economic agents and their information sets. The information included will help us study heterogeneity and potential biases in expectations and analyze impacts on behavior and decision-making under uncertainty.
The Laboratory of Progress
This book tells the improbable story of how a small, backward, mountainous agricultural country with almost no raw materials became an industrial powerhouse, a hub of innovation, a touristic mecca and a pioneer in transportation - all in the course of a single century.
The Laboratory of Progress
This book tells the improbable story of how a small, backward, mountainous agricultural country with almost no raw materials became an industrial powerhouse, a hub of innovation, a touristic mecca and a pioneer in transportation - all in the course of a single century.
Economic Policy in the 21st Century
Economic policy is facing crises on multiple fronts. With the effects of the last financial crisis still with us, it is now faced with the new challenges of post-Covid economic recovery and dealing with the negative effects of over consumption on the climate. This book explores the future of economic policy in relation to what the author sees as the four great policy challenges of the first half of the 21st century: the after effects of the last financial crisis and the catastrophic impact of the Covid pandemic, secular stagnation, growing poverty and inequality, and globalization. The existence of these economic problems has become increasingly relevant since some of the tools available to public action have become useless. As economists begin to suggest new instruments of economic policy, this book will help the reader understand the nature of the economic and political facts that influence both current and future generations.
Towards Africa's Renewal
Africa still finds itself in the clutches of poverty and underdevelopment. The expected benefits from economic restructuring have not been realized and the debt burden continues to weigh heavily on African economies, constraining the possibilities of growth. Problems that have existed since the 1960s remain and links with the global economy continue to increase but fall short of requirements. Against this background it is not surprising that the vast majority of African states will not meet the Millennium Development Goals. The search for political systems that can deliver development have been categorized by cynics as old wine in old bottles with new stickers. As the dividends from globalization elude Africa in the 21st century, it becomes clear that it is a series of failed states, rogue states and even stateless states. This volume brings together leading researchers and analysts to examine issues and identify policy options which can lead to renewal in Africa. It provides an opportunity to reflect and offers a critical multidisciplinary appraisal of the future challenges facing Africa.
Globalization and the Transformation of Foreign Economic Policy
The onslaught of globalization has brought with it sweeping changes to the foreign economic policy of the last 50 years. As the international political economy of nations and regions continues to be drawn and redrawn, this book traces the goals and instruments of foreign economic policy during this period, providing insight into the long-run trends and developing new theoretical generalizations. The book charts the journey from the point when foreign economic policy was solely concerned with foreign trade - pursued to promote the interests of individual countries - to the current globalization of the world economy that creates a uniform market in goods, services and factors of production that embrace all countries and regions.
The Effect of Food and Energy Security on Political Stability
Master's Thesis from the year 2019 in the subject Politics - Other International Politics Topics, grade: 10, University of Marburg (Faculty of Business Administration and Economics Economics & Institutions), language: English, abstract: Since both food security and energy security are countries' strategic objective, this study typically advocates a deep understanding of the concept of political stability to incorporate food and energy security as a new pillar of conflict management based on an empirical understanding of the nexus and its effect. We used food deficit as proxy for food security and energy imports for energy security from the World Bank database. Suffering, mutilation and death of human beings are the most obvious and important effects of all conflicts, as well as natural disasters. Yet, material losses are also important because they reduce the livelihood and recovery capacities of conflict survivors. Moreover, in many cases, the indirect effects of conflict cause more deaths than direct violence. It has been found that generally the indirect costs of war are greater than its direct costs and persist long after the end of the conflict. Instability and conflict affect many economic sectors such as reducing foreign exchange earnings, which can have serious consequences for development and food security. Indeed, global population growth combined with the effects of climate change on agriculture pose the risk of a Malthusian trap to humanity that can only be avoided by a more efficient and sustainable production system. Energy security policies and climate policies are often considered as two sides of the same coin, their objectives being at least complementary, if not identical.
The Demand for Alcohol, Tobacco and Marijuana
This book is the first to present an extensive analysis of the international evidence for the similarities of the consumption patterns of such controversial commodities as alcohol, tobacco and marijuana, using recent data from a number of developed and less developed countries over a number of years. The book also presents analysis of the consumption patterns of food in general and soft drinks in particular. In addition the book provides a detailed analysis of the consumption restrictions and regulations in place in various countries in relation to issues associated with taxation, availability, and marketing of these products. The book's focus is on rigorous empirical analysis and presents the estimates of demand elasticities of these five commodities across different countries. Such estimates are key inputs for government economic models that are used for the purpose of social policy analysis. Furthermore, the book presents hypothesis testing results on various demand theory hypotheses such as demand homogeneity and Slutsky symmetry.
Ultimate Economic Conflict Between China and Democratic Countries
This book investigates various dimensions of the economic conflicts between the USA - and other democratic market-economy countries - and state-capitalist communist China in the past decade, examining how differences in institutions and ideology bring these about.
The Invisible Republic
The book establishes a philosophical base for the economic principles of Irish republicanism in the 21st century. It traces these from their late 18th century origins to the present day. It is unique in terms of contemporary books about Irish republicanism. There has been a dearth of economic analysis of the republican position since the creation of the modern Irish state in 1922.The book makes a link between the politics of Tone, Davis, Lalor, Connolly and Pearse through the economic experience of people living and working in not just Ireland but around the world today. The examples are contemporary but the ideological basis stretches from the present day back through the last 250 years of developing Irish republican thought.It identifies a series of key contemporary economic issues and gives a socialist republican perspective on possible solutions and strategies. Ultimately it provides a recalibration of the principles of socialism and republicanism in the 21st century.
Caribbean Trade, Integration and Development - Selected Papers and Speeches of Alister McIntyre (Vol. 2)
"The papers in these volumes inevitably chart thecourse of Sir Alister's professional life and . . . I marvel at the prodigiousoutput of his intellectual journey." -Sir Shridath Ramphal, former Chancellorof the University of the West Indies, Common wealth Secretary General, Chairmanof the West Indian Commission and Director-General of the Caribbean RegionalNegotiating Machinery. "Sir Alister's deep interest suchas human resource development, education, training and the capacity to dealwith the challenges of change in the 21st century, are all deftly addressed inhis many contributions to scholarship." "What distinguished McIntyre frommany of his colleagues was not only the technical brilliance of his writing ontrade and economics, but his equally perceptive understanding of the role ofhuman resources in the building of a sustainable livelihood in small developing states. These papers reflect the vision of one who was committed tocreating an economic space to facilitate the movement of economic factors, goods, services skills and human resources." -TheMost Honourable Professor Sir Kenneth Hall, Former Principal and ProVice-Chancellor, University of the West Indies, Mona Campus.
The Privatisation of European Telecommunications
This international volume presents a comprehensive, comparative study of the transformation of the European telecommunications industry from 1990 to the present. The book focuses on the old incumbent operators and their dramatic change from state agencies to listed companies. It analyzes the liberalization process, as well as the corporatization and privatization of these companies. The contributors assess the conditions for the transformations taking place; the driving forces for change; the effects to management, the efforts of the EU during these processes, and ultimately, the role of the private owner. Political science publications have all but excluded analysis of the newly privatized companies; their contribution to the liberalization process both before and after privatization; and the interplay between the national political and company levels. The book redresses this shortcoming, and also features a double empirical focus in that the main national incumbents in Europe are analyzed and compared to Telenor, the Norwegian former incumbent.
The Balance of Payments Analysis of Developing Economies
Developing countries - given their extreme economic vulnerability - are likely to be better served by maintaining flexible exchange rate regimes. That is the finding of this informative and enlightening book. Presenting unique theoretical and econometric analysis of the current account of the balance of payments of Nigeria and Ghana, this book examines the features common to the economic position of developing countries (such as recurring deficits and continual increases in external debt). The book presents a number of new theoretical modifications to the standard version of the value model of the current account, in order to reflect the major characteristics of developing economies. The book also uses rigorous econometric analyses to determine the validity of theoretical models, and examines the sustainability of these various countries' current account deficits.
Knowledge Alliance 'Human Resources and Organizational Development '(KA4HR)
To remain competitive in the Baltic Sea Region (BSR), small and medium-sized enterprises (SMEs) must increase their innovation capacity and close the gap between qualification requirements and demands. Human capital is the most important resource for increasing productivity and innovation. As a result, the "Knowledge Alliance for Human Resources and Organizational Development" project was launched and ran from 2017 to 2021. The project of eleven partners from four countries placed a high value on increased collaboration between universities and businesses in order to promote education and innovation. The most important findings are included in this publication. First, through R&D work at universities, SME-specific methods, instruments, and projects are developed, tested, and implemented, resulting in workplace innovations in areas such as employee recruitment, motivation, and digitization, a more innovative working environment, and more efficient use of human capital. Second, through qualifications, small and medium-sized enterprises in the Baltic Sea Region's awareness and competencies in this new area of innovation promotion was strengthened.
Institutional Change and China Capitalism: Frontier of Cliometrics and Its Application to China
This edited volume is based on original essays first presented at seminars in complexity economics, Sichuan University, China, in November 2018 and May 2019, and at the 12th International Conference on the Chinese Economy, University of Clermont-Ferrand, France, in October 2019. It also includes three contributions written especially for this volume. This research benefited from three French grants 'Hubert Curien Research Fellowship' (Program Campus France 2019, 2020, 2021). All chapters assess the recent take-off of the Chinese economy from a historical perspective, enlarging the economic evidence that China's capitalism is a matter of institutional revolution.Institutional Change and China Capitalism aims to provide a radically new view of the rise of Chinese capitalism by drawing on recent developments in cliometrics and complexity economics, macroeconomic dynamics, network analysis and behavioral finance to illustrate the various facets of China's transition to capitalism. The chapters within innovate the study of China's take-off using the frontier of research in institutional cliometrics and complexity economics. Thus, the book is structured in three sections that seek to address -- empirically, theoretically, and in terms of network structure, the profound institutional change that led China to progressively adopt capitalism.Together these papers attest to the vitality of current research in cliometrics and complexity economics.
Global Financialization and Corporate Innovation Strategy
This book looks at how traditional financing and non-traditional ones transform corporate innovation strategy. It will be of interest to those interested in strategy and entrepreneurship innovation, especially policy makers focusing on financialization or national level innovation strategies.
Managerial Economics
Now in its sixth edition, Ivan Png's Managerial Economics has been extensively revised with an introductory chapter emphasizing decision-making and behavioral biases, intensive application to current business and economic issues including technology, globalization, and pandemics, a closing chapter highlighting business responses to climate change, a streamlined presentation focusing on the economics that managers need to know. As always, the text presents the key concepts of microeconomics intuitively, without sophisticated mathematics. Throughout, it emphasizes actual management applications.The new sixth edition is updated with fresh up-to-date vignettes and discussion questions from all over the world and enhanced with detailed instructor supplements. It is an ideal text for any course focusing on the practical application of microeconomic principles to management.The book provides truly useful economics for managers. In the words of one professor, "I can use your book for serious conversation with adult students."
Metaphors in the History of Economic Thought
This book explores the evolution of economic theorizing through the lens of metaphors. The edited volume sheds light on metaphors which have been used by a range of key thinkers and schools of thought to describe economic crises, business cycles and economic equilibrium.
The Impact of Political Instability and Nominal Interest Rate on Foreign Direct Investment. The Case of Pakistan
Essay from the year 2021 in the subject Economics - Case Scenarios, grade: 14, language: English, abstract: This paper will focus on the impact of domestic interest rate and political instability on FDI of Pakistan using time series data from 1989-2019 in case of Pakistan. The findings are that political instability has a major impact for short time period and in long time period but in case of interest rate there is a negative minimal impact on FDI in both span of time. This can be because when you have lower nominal interest rate, thenyour domestic investor will benefit and country GDP will rise.
Inflation-Conscious Investments
Understand inflation in no time! Find out everything you need to know about making informed investment choices with this practical and accessible guide. Inflation is an important consideration for anyone looking to make a smart investment, as it will affect the real value of the money involved and can also have a direct effect on interest rates. However, many investors fail to take it into account, even though the mechanisms of inflation are fairly simple to understand. It is also possible to calculate its potential effects on investments using a variety of mathematical formulae. In 50 minutes you will be able to: - Learn about the mechanics of inflation and related phenomena - Understand how inflation affects the real value of money - Discover which kinds of investments you should make during periods of inflation ABOUT 50MINUTES.COM MANAGEMENT AND MARKETING The Management and Marketing series from the 50Minutes collection provides the tools to quickly understand the main theories and concepts that shape the economic world of today. Our publications will give you elements of theory, definitions of key terms and case studies in a clear and easily digestible format, making them the ideal starting point for readers looking to develop their skills and expertise.
Adam Smith
A pioneer of modern economics This book is a practical and accessible guide to understanding the life and works of Adam Smith. In 50 minutes you will be able to: - Recognize and understand the main ideas behind the works of Adam Smith on philosophy and economics - Identify the impact his contributions had on future neoclassical economists and how The Wealth of Nations laid the foundations for modern economics - Understand the limits and criticisms of his contributions highlighted by other economists ABOUT 50MINUTES Economic Culture 50MINUTES provides the tools to quickly understand the main theories and concepts that shape the economic world of today. Our publications are easy to use and they will save you time. They provide elements of theory and case studies, making them excellent guides to understand key concepts in just a few minutes. They are the starting point for readers to develop their skills and expertise.
Book Review
It can be hard for busy professionals to find the time to read the latest books. Stay up to date in a fraction of the time with this concise guide. The World is Flat is an award-winning book by three-time Pulitzer Prize winner Thomas Friedman. It combines meticulous research, personal anecdotes and conceptual analysis to provide a comprehensive yet accessible overview of the mechanisms behind globalisation in the 21st century, along with recommendations for individuals and companies who want to thrive in the new, 'flat' world. Although some economists and academics have challenged Friedman's views, The World is Flat met with general critical and popular success when it was first published in 2005, and became an international bestseller. This book review and analysis is perfect for: - Anyone who wants to learn about the processes behind globalisation - Individuals and companies looking to meet the challenges of the new global market - Students of business, politics or economics About 50MINUTES.COM BOOK REVIEW The Book Review series from the 50Minutes collection is aimed at anyone who is looking to learn from experts in their field without spending hours reading endless pages of information. Our reviews present a concise summary of the main points of each book, as well as providing context, different perspectives and concrete examples to illustrate the key concepts.
Black Monday
Understand Black Monday in no time! Find out everything you need to know about this major financial crisis with this practical and accessible guide. On 19 October 1987, a number of factors came together to cause an unexpected drop in share prices on the New York Stock Exchange, with the Dow Jones ultimately losing 22.6% of its value in the course of a single day. This was the largest drop in the index's long history, but fortunately the real economy emerged relatively unscathed from the crash and a crisis of the magnitude of the 1929 Wall Street Crash was averted. In 50 minutes you will be able to: - Identify the reasons for the sudden loss of share value on 19 October 1987 - Find out about the crash's impact on stock markets around the world - Understand the decisive action taken to prevent the crisis from worsening ABOUT 50MINUTES.COM ECONOMIC CULTURE The Economic Culture series from the 50Minutes collection provides the tools to quickly understand the main theories and concepts that shape the economic world of today. Our publications will give you elements of theory, definitions of key terms and case studies in a clear and easily digestible format, making them the ideal starting point for readers looking to develop their skills and expertise.
The Great Recession
Understand the Great Recession in no time! Find out everything you need to know about this key moment in contemporary economic history with this practical and accessible guide. The burst of the property bubble in the USA in 2008 saw millions of families evicted from their homes and soon led to a major worldwide economic crisis. The spread of the crisis and the presence of toxic assets in banks around the world laid bare the complex mechanisms used by financial institutions to avoid taking responsibility for risky assets and the arrogance of the largest banks, who saw themselves as "too big to fail". In spite of large-scale efforts to mitigate the effects of the crisis, its consequences are still felt today. In 50 minutes you will be able to: - Identify the key causes of the recession, including the widespread use of securitization - Understand how the crisis unfolded and spread around the world - Evaluate the measures taken by national governments to mitigate its effects ABOUT 50MINUTES.COM ECONOMIC CULTURE The Economic Culture series from the 50Minutes collection provides the tools to quickly understand the main theories and concepts that shape the economic world of today. Our publications will give you elements of theory, definitions of key terms and case studies in a clear and easily digestible format, making them the ideal starting point for readers looking to develop their skills and expertise.
Capital Asset Pricing Model
Make smart investment decisions to build a strong portfolio This book is a practical and accessible guide to understanding and implementing the capital asset pricing model, providing you with the essential information and saving time. In 50 minutes you will be able to: - Understand the uses of the capital asset pricing model and how you can apply it to your own portfolio - Analyze the components of your current portfolio and its level of efficiency to assess which assets you should retain and which you should remove - Calculate the level of risk involved in new investments so that you make the right decisions and build the most efficient portfolio possible ABOUT 50MINUTES.COM Management & Marketing 50MINUTES.COM provides the tools to quickly understand the main theories and concepts that shape the economic world of today. Our publications are easy to use and they will save you time. They provide elements of theory and case studies, making them excellent guides to understand key concepts in just a few minutes. In fact, they are the starting point to take action and push your business to the next level.
Ages of American Capitalism
A leading economic historian traces the evolution of American capitalism from the colonial era to the present--and argues that we've reached a turning point that will define the era ahead. "A monumental achievement, sure to become a classic."--Zachary D. Carter, author of The Price of PeaceIn this ambitious single-volume history of the United States, economic historian Jonathan Levy reveals how capitalism in America has evolved through four distinct ages and how the country's economic evolution is inseparable from the nature of American life itself. The Age of Commerce spans the colonial era through the outbreak of the Civil War, and the Age of Capital traces the lasting impact of the industrial revolution. The volatility of the Age of Capital ultimately led to the Great Depression, which sparked the Age of Control, during which the government took on a more active role in the economy, and finally, in the Age of Chaos, deregulation and the growth of the finance industry created a booming economy for some but also striking inequalities and a lack of oversight that led directly to the crash of 2008. In Ages of American Capitalism, Levy proves that capitalism in the United States has never been just one thing. Instead, it has morphed through the country's history--and it's likely changing again right now. "A stunning accomplishment . . . an indispensable guide to understanding American history--and what's happening in today's economy."--Christian Science Monitor"The best one-volume history of American capitalism."--Sven Beckert, author of Empire of Cotton
Access Rules
A powerful and urgent call to action: to improve our lives and our societies, we must demand open access to data for all. Information is power, and the time is now for digital liberation. Access Rules mounts a strong and hopeful argument for how informational tools at present in the hands of a few could instead become empowering machines for everyone. By forcing data-hoarding companies to open access to their data, we can reinvigorate both our economy and our society. Authors Viktor Mayer-Sch繹nberger and Thomas Ramge contend that if we disrupt monopoly power and create a level playing field, digital innovations can emerge to benefit us all. Over the past twenty years, Big Tech has managed to centralize the most relevant data on their servers, as data has become the most important raw material for innovation. However, dominant oligopolists like Facebook, Amazon, and Google, in contrast with their reputation as digital pioneers, are actually slowing down innovation and progress by withholding data for the benefit of their shareholders--at the expense of customers, the economy, and society. As Access Rules compellingly argues, ultimately it is up to us to force information giants, wherever they are located, to open their treasure troves of data to others. In order for us to limit global warming, contain a virus like COVID-19, or successfully fight poverty, everyone--including citizens and scientists, start-ups and established companies, as well as the public sector and NGOs--must have access to data. When everyone has access to the informational riches of the data age, the nature of digital power will change. Information technology will find its way back to its original purpose: empowering all of us to use information so we can thrive as individuals and as societies.
Industries and Markets in Central and Eastern Europe
A combination of rigorous analysis and case material; this book is an essential guide to trade and industry developments in Central and Eastern Europe. Its scope encompasses globalization, the business strategies of MNCs, agriculture, services and the dynamics of innovation. It also considers the trading relationships of these countries with Russia as well as the influence of trade on the democratization of states formerly belonging to the USSR.
Labour Relations in Central Europe
Since 1990, foreign direct investment (FDI) has quickened economic modernization in Central Europe. State of the art management techniques and cutting edge technology have been introduced in many cases. Labour Relations is an essential factor in the organization of labour and production. At the start of the process industrial relations were characterized by the conditions existing under the previous planned economies or - as with "greenfield" investments - had to be entirely reconfigured. In the case of investments by West European companies, this book reveals various emerging models of industrial relations but also a clear tendency towards company centralization. For the time being the European Works Council still plays a subordinate role despite its potential fundamental role as mediator between East and West. Empirically nine corporations from the metal/automotive industry, the chemical, energy and food processing industries (with their subsidiaries in Poland, Czech Republic and Slovakia) are considered.
Economics of Globalisation
Globalisation has evolved to become the dominant economic, cultural, environmental and political phenomenon of our time. In economic terms, debates now extend beyond concepts of 'winners and losers', to key questions of how to deal with the problems unleashed by globalisation while preserving its benefits. However, if the benefits of globalisation are fairly shared and the costs properly dealt with, a deeper economic understanding of how globalisation is impacting our economic world is needed. This important book addresses this task, featuring contributions from many of the world's leading economists. Seven key aspects of globalisation are considered: trans-border trade, trans-border movement of people and capital, the emergence of a new international order, the homogenization of economic cultures, technology and institutions, labour market consequences, corporate governance issues, and prospects for a global society. These carefully chosen themes illuminate the complex path that globalisation is following by showing it to be a process consisting of various transitions and subplots, the totality of which is closely examined in this comprehensive and authoritative work. Economics of Globalisation is essential reading for academics, researchers, policy-makers and business professionals.
Global Commerce in the Age of Enlightenment
Combining contextual, institutional and global perspectives, this book evaluates the impact of international trade on eighteenth-century economic thought. It meticulously delineates how economic ideas and institutions flowed between North and South Europe and across the Indian and Atlantic Oceans during the Age of Enlightenment.
A New Balance of Payments for the United States, 1790-1919
This book develops new balance of payments statistics for the United States from 1790 to 1919, before official statistics were kept. Part I of this book justifies construction of a new balance of payments table, and Chapter 1 surveys existing tables from that standpoint. Chapter 2 shows how this book overcomes the limitations of Office of Business Economics and its North-Simon-Goldsmith foundation. Specific features are highlighted, including measurement decisions, improvement of OBE series, development of new series, and derived implications for the structure of the US economy and for the importance of individual sectors that loom large at various times: slave trade, shipping, manufacturing, and travel. The book then generates new time series of the movement of people, the movement of goods, the movement of funds, and the provision of services. Part VI puts the new balance of payments table to use in several ways: aggregates and balances within the table, structure of the US economy, and specific sectors of the economy (slave trade, shipping, manufacturing, travel). Finally, Part VII provides concluding comments.
Economic Growth and Democracy in Post-Colonial Africa
In Economic Growth and Democracy in Post-Colonial Africa: Cabo Verde, Small States, and the World Economy, edited by Jo瓊o Resende-Santos and Aminah Fernandes Pilgrim, the contributors provide a comprehensive academic analysis of the political economy of Cabo Verde (Cabo Verde) from its independence in 1975 to the present. Democracy and economic growth have been in short supply in post-colonial Africa. Yet the widespread misperception of this vast and diverse continent as experiencing only failure has overshadowed cases of good governance, human development, and social peace. This volume offers a comprehensive analytical narrative on how Cabo Verde (Cape Verde) forged a nation and navigated the world system since independence to achieve some progress. The volume critically examines its political and institutional evolution, foreign affairs, economy, and development policy. The chapters analyze the sources and nature of this relative success as well as underscore the many shortcomings and challenges ahead. As the first volume in English on Cabo Verde's political economy, it serves as both a primary source and sociopolitical study, featuring some of the most accomplished scholars and policy practitioners. This collection aims to fill this gap in the literature and offers a new perspective on democracy and growth in post-colonial Africa.
Understanding China's Economy
Section 1 China's MiracleChapter 1 Understanding the Stages of Economic Development Chapter 2 How Fast has the Chinese economy grown? Chapter 3 Understanding China's Development Chapter 4 Escaping misunderstandings about the relationship between population and the economy Section 2 The Development Turning Point Chapter 5 The Lewis turning point for large countries Chapter 6 The demographic transition and labour supply Chapter 7 The challenges after the Lewis turning point Chapter 8 China's second demographic dividend Section 3 Sidestepping the Trap Chapter 9 China's inevitable speed bump Chapter 10 Understanding the Middle Income Trap Chapter 11 Employment issues: from the aggregate to the structural Chapter 12 The income distribution Kuznets turning point Section 4 Creating a New Miracle Chapter 13 Can China create another economic miracle? Chapter 14 From the demographic dividend to the reform dividend Chapter 15 From the demographic dividend to the open dividend
Sociophysics Approach to Epidemics
This book presents the fundamentals of evolutionary game theory and applies them to the analysis of epidemics, which is of paramount importance in the aftermath of the worldwide COVID-19 pandemic. The primary objective of this monograph is to deliver a powerful tool to model and analyze the spread of an infectious disease during a pandemic as well as the human decision dynamics. The book employs a variant of the "vaccination game," in which a mathematical epidemiological model dovetails with evolutionary game theory. From a social physics standpoint, this book introduces an extended concept of the vaccination game starting from the fundamental issues and touching on the newest practical applications.The book first outlines the fundamental basis of evolutionary game theory, in which a two-player and two-strategy game, the so-called 2 ? 2 game, and a multi-player game are concisely introduced, and the important issue of how social dilemmas are quantified is highlighted.Subsequently, the book discusses various recent applications of the extended concept of the vaccination game so as to quantitatively evaluate provisions other than vaccination, including practical intermediate protective measures such as mask-wearing, efficiency of quarantine compared with that of isolation policies for suppressing epidemics, efficiency of preemptive versus late vaccination, and optimal subsidy policies for vaccination.
Social Cohesion and Welfare States
This interdisciplinary book examines the long-run historical processes of the development of the welfare state. It focuses on the complex political, social, economic and institutional transformations which give rise to these peaceful and cohesive societies.
What Really Counts
Politicians and economists fixate on "growing the economy"--measured by a country's gross domestic product. But this yardstick counts harmful activities such as greenhouse gas emissions, plastic waste, and cigarette sales as gains, and it ignores environmental protection, voluntary community work, and other benefits. What we measure is a choice, and what is and isn't counted determines what sorts of policies are enacted. How can we shift the focus to well-being and quality of life? What Really Counts is an essential, firsthand story of the promise and challenges of accounting for social, economic, and environmental benefits and costs. Ronald Colman recounts two decades of working with three governments to adopt measures that more accurately and comprehensively assess true progress. Chronicling his path from Nova Scotia to New Zealand to Bhutan, Colman details the challenge of devising meaningful metrics, the effort to lay the foundations of a new economic system, and the obstacles that stand in the way. Reflecting on successes and failures, he considers how to shift policy priorities from a narrow economic-growth agenda toward a future built on sustainability and equity. Colman has taken the critique of GDP outside the academy and attempted to realize an alternative. The lessons he offers in What Really Counts are vital for anyone interested in how we can measure what matters--and how better measures can help build a better world.
China, Trust and Digital Supply Chains
China, Trust and Digital Supply Chains presents a critical reflection on blockchain technologies in the context of their adoption in China and the world that China is engaged in and shaping.
Economics for a Fragile Planet
In a world of growing environmental risks and ecological scarcities, ensuring a safe Anthropocene for humankind is essential. Managing an increasingly "fragile" planet requires new thinking on markets, institutions and governance built on five principles: ending the underpricing of nature, fostering collective action, accepting absolute limits, attaining sustainability, and promoting inclusivity. Rethinking economics and policies in this way can help to overcome the global challenges posed by climate change, biodiversity loss, freshwater scarcity, and deteriorating marine and coastal habitats. It requires decoupling wealth creation from environmental degradation through business, policy and financial actions aimed at better stewardship of the biosphere. In this book, renowned environmental economist Edward Barbier offers a blueprint for a greener and more inclusive economy, and outlines the steps we must take now to build a post-COVID world that limits environmental threats while sustaining per capita welfare.
Managerial Economics
Managerial economics, meaning the application of economic methods in the managerial decision-making process, is a fundamental part of any business or management course. The current business environment presents managers with increasingly difficult decisions, amidst the Covid-19 pandemic and associated lockdowns, as well as the digital revolution and improved technology. Now in its second edition, this textbook features a new focus on how managerial economics has been transformed by the increasing importance of digitization within both the workplace and wider economy. It also features a new chapter on consumer theory, which emphasizes psychological factors and behavioural economics. Wilkinson adapts a user-friendly problem-solving approach to take the reader in gradual steps from simple problems through increasingly difficult material to complex case studies, demonstrating how to apply the principles of managerial economics to real-life situations. This book will be invaluable to business and economics students at both undergraduate and graduate levels.
Why Fiscal Stimulus Programs Fail, Volume 1
This book offers a series of statistical tests to determine if the "crowd out" problem, known to hinder the effectiveness of Keynesian economic stimulus programs, can be overcome by monetary programs. It concludes there are programs that can do this, specifically "accommodative monetary policy." They were not used to any great extent prior to the Quantitative Easing program in 2008, causing the failure of many fiscal stimulus programs through no fault of their own. The book includes exhaustive statistical tests to prove this point. There is also a policy analysis section of the book. It examines how effectively the Federal Reserve's anti-crowd out programs have actually worked, to the extent they were undertaken at all. It finds statistical evidence that using commercial and savings banks instead of investment banks when implementing accommodating monetary policy would have markedly improved their effectiveness. This volume, with its companion volume Why Fiscal Stimulus Programs Fail, Volume 2: Statistical Tests Comparing Monetary Policy to Growth, provides 1000 separate statistical tests on the US economy to prove these assertions.
Economics for a Fragile Planet
In a world of growing environmental risks and ecological scarcities, ensuring a safe Anthropocene for humankind is essential. Managing an increasingly "fragile" planet requires new thinking on markets, institutions and governance built on five principles: ending the underpricing of nature, fostering collective action, accepting absolute limits, attaining sustainability, and promoting inclusivity. Rethinking economics and policies in this way can help to overcome the global challenges posed by climate change, biodiversity loss, freshwater scarcity, and deteriorating marine and coastal habitats. It requires decoupling wealth creation from environmental degradation through business, policy and financial actions aimed at better stewardship of the biosphere. In this book, renowned environmental economist Edward Barbier offers a blueprint for a greener and more inclusive economy, and outlines the steps we must take now to build a post-COVID world that limits environmental threats while sustaining per capita welfare.
The Fiscal Theory of the Price Level
A comprehensive account of how government deficits and debt drive inflation Where do inflation and deflation ultimately come from? The fiscal theory of the price level offers a simple answer: Prices adjust so that the real value of government debt equals the present value of taxes less spending. Inflation breaks out when people don't expect the government to fully repay its debts. The fiscal theory is well suited to today's economy: Financial innovation undermines money demand, and central banks don't control the money supply or aggressively change interest rates, invalidating classic theories, while large debts and deficits threaten inflation and constrain monetary policy. This book presents a comprehensive account of this important theory from one of its leading developers and advocates. John Cochrane aims to make fiscal theory useful as a conceptual framework and modeling tool, and for analyzing history and policy. He merges fiscal theory with standard models in which central banks set interest rates, giving a novel account of monetary policy. He generalizes the theory to explain data and make realistic predictions. For example, inflation decreases in recessions despite deficits because discount rates fall, raising the value of debt; specifying that governments promise to partially repay debt avoids classic puzzles and allows the theory to apply at all times, not just during periods of high inflation. Cochrane offers an extensive rethinking of monetary doctrines and institutions through the eyes of fiscal theory, and analyzes the era of zero interest rates and post-pandemic inflation. Filled with research by Cochrane and others, The Fiscal Theory of the Price Level offers important new insights about fiscal and monetary policy.
Sustainable Consumption and Production, Volume I
Economic growth and increasing population impose long-term risks to the environment and society. Approaches to address the impact of consumption and production on bio-diversity loss, resource availability, climate change, and mounting waste problems on land and in seas have yet not proven to be successful. This calls for innovative approaches to address the complex environmental, social, and economic interrelationships that have to be addressed in transforming to sustainable development. Sustainable Consumption and Production, Volume I: Challenges and Development aims to explore critical global challenges and addresses how consumers, producers, the private sector, international organizations, and governments can play an active role in innovating businesses to support a transitioning towards sustainable consumption and production. The book explores different approaches and innovations to address sustainable consumption and production. It details multiple social and economic contexts to the challenges and developments towards a sustainable consumption and production. The book is of interest to economists, students, businesses, and policymakers.Chapter 14 and chapter 15 are available open access under a Creative Commons Attribution 4.0 International License via link.springer.com.
Structural Transformation of Bangladesh Economy
This book examines the theory and global evidence on structural transformation along with stylised facts and implications using, among others, a dynamic panel model, for South Asia. The characteristics of the structural transformation process in Bangladesh bring out the relevance of a comprehensive and inclusive South Asian 'brand' in view of the challenges of large population size, high burden of poverty, rising inequalities and its compulsion to achieve rapid and sustained inclusive development.The analysis highlights several distinct characteristics of Bangladesh's structural transformation including changes in value added, trade, employment, productivity, formal-informal jobs, and opportunities for low-skilled workers. The book suggests that the manufacturing sector could not create the required number of jobs and generate rapid absolute and relative productivity gains in the Bangladesh economy. Although the services sector has largely led output and employment growth, servicessubsectors with strong labour absorptive capacity have low average productivity. Hence, growth-enhancing structural transformation led by these subsectors is likely to be less dynamic than required for rapid employment-creating growth in the economy. The book's analysis on COVID-19 and cyclone Amphan shows that an integrated disaster and development paradigm is needed for Bangladesh. An inclusive and health and well-being focused structural transformation presents the pathway to advance the people-centred approach to development in Bangladesh through both vulnerability reduction and investments in sustainable development that would offset both known and unknown disaster threats. The key for Bangladesh is to skillfully manage the 'developer's dilemma' of achieving both structural transformation in terms of large productivity gains and inclusive growth for reducing poverty and rising inequalities. This book is relevant to students, academicians and development practitioners and others interested in contemporary development.
Regional Cooperation and Integration Corporate Progress Report 2017-2020
