Economic Networks
It has become increasingly clear that economies can fruitfully be viewed as networks, consisting of millions of nodes (households, firms, banks, etc.) connected by business, social, and legal relationships. These relationships shape many outcomes that economists often measure. Over the past few years, research on production networks has flourished, as economists try to understand supply-side dynamics, default cascades, aggregate fluctuations, and many other phenomena. Economic Networks provides a brisk introduction to network analysis that is self-contained, rigorous, and illustrated with many figures, diagrams and listings with computer code. Network methods are put to work analyzing production networks, financial networks, and other related topics (including optimal transport, another highly active research field). Visualizations using recent data bring key ideas to life.
Capitalism, Degrowth and the Steady State Economy
This book examines the contemporary state of the capitalist economyand its future trajectory in a world characterized by multiple crises from population growth to ecological damage. Setting an understanding of modern capitalism in global historical context, chapters consider the uncertainty of capitalism's future and argues that capitalism must adapt dramatically to survive.. The book examines the major problems that a capitalist system faces, including inequality, organized crime, uncontrolled technological development, polarizing geopolitics, food security and climate change. To address these multifaceted challenges andminimize the impact of capitalism in exacerbating them, the book discusses the potential viability of a 'steady state' economic model and a de-growth approach to the global economy. It also considers various alternative models for the future, including eco-socialism and participatory socialism. This book deftly weaves together perspectives on a wide variety of issues and will be a useful resource for scholars interested in Marxist economics and heterodox economics, political economy, economic development and economic thought.
Global Digital Technology Convergence
This book analyses the unique role network effects play in the process of digital technology diffusion. Using the time span of 1980-2022 and data from over 180 countries, the authors examines the strength and determinates of emerging network externalities in the process of digital technology diffusion across the world.
The WTO and Economic Development
Economists offer rigorous quantitative analyses of how the institutional design and purpose of the WTO (and its progenitor, the GATT) affect economic development. The World Trade Organization (WTO) was established partly to support economic development in developing countries through international trade. This goal has been elusive, with some questioning the WTO's ability to achieve such a goal. In this volume, leading scholars in the economics of international trade offer rigorous quantitative analyses of how the institutional design and purpose of the WTO (and its progenitor, the GATT) affect economic development.The volume begins with analyses of market access concessions that have been or could be exchanged between developing and developed countries, from a formal framework for incorporating non-tariff measures into a model for analyzing a multilateral trade agreement to an examination of the MFN (most-favored nation) free rider problem. Contributors then develop new theoretical and econometric approaches for understanding key aspects of trade liberalization under the GATT/WTO that are of particular relevance to economic development, considering such topics as achieving cooperation in eliminating prohibitive trade barriers and the effect of China's export subsidies on its dramatic growth in exports. Finally, the book considers two significant new issues that arose from the Uruguay round, from which the WTO was formed: the TRIPS agreement, regulating intellectual property; and the resolution of trade disputes with and without litigation. Taken together, these analyses shed new light on the relationship between trade liberalization and economic development as well as the WTO's effectiveness.
Bubbles, Crashes and Financial Disasters
At regular intervals since the early modern age, the get rich quick syndrome has swept millions of credulous souls to the very extremes of ambition and greed in their desire to amass wealth. The symptoms of such behaviour have often appeared during the build-up to a market crash, when months or even years of gains have been wiped out in hours. This is referred to as the 'boom and bust scenario' in which there is an economic bubble, followed by a crash. In this book we examine several of the remarkable events that have occurred between the seventeenth century and present day, which culminated in enormous monetary loss for the public, or even the collapse of their national economy. Following the Great Crash of 1929, and some of the instances depicted from the 1980s onwards, the seismic effects were felt globally. Today, we live in a highly sophisticated world of economic regulation, financial manipulation, and the extensive application of fiscal policy. Despite this, economic bubbles still seem to evolve from invisible beginnings, grow rapidly out of control, and then fragment into a melee of problems for modern-day society. It is widely believed that the random forces of human nature are responsible, as they spiral out of control during periods of heady speculation, whilst a few share a different view. They feel that large economic bubbles are non-organic, as they are engineered by the financial system itself. The latter is an interesting possibility - and one we shall certainly consider as we take a light-hearted journey through the subject matter of this book.
Bubbles, Crashes and Financial Disasters
At regular intervals since the early modern age, the get rich quick syndrome has swept millions of credulous souls to the very extremes of ambition and greed in their desire to amass wealth. The symptoms of such behaviour have often appeared during the build-up to a market crash, when months or even years of gains have been wiped out in hours. This is referred to as the 'boom and bust scenario' in which there is an economic bubble, followed by a crash. In this book we examine several of the remarkable events that have occurred between the seventeenth century and present day, which culminated in enormous monetary loss for the public, or even the collapse of their national economy. Following the Great Crash of 1929, and some of the instances depicted from the 1980s onwards, the seismic effects were felt globally. Today, we live in a highly sophisticated world of economic regulation, financial manipulation, and the extensive application of fiscal policy. Despite this, economic bubbles still seem to evolve from invisible beginnings, grow rapidly out of control, and then fragment into a melee of problems for modern-day society. It is widely believed that the random forces of human nature are responsible, as they spiral out of control during periods of heady speculation, whilst a few share a different view. They feel that large economic bubbles are non-organic, as they are engineered by the financial system itself. The latter is an interesting possibility - and one we shall certainly consider as we take a light-hearted journey through the subject matter of this book.
Pilkington Brothers and the Glass Industry
First published in 1960, Pilkington Brothers and the Glass Industry is a comprehensive economic history of the glass industry in Britain. It charts the story of Pilkington Brothers and the manufacture of window and plate glass in Britain up to 1914. The epilogue to the book discusses the events that impacted the glass industry from 1914-1959.The volume gives an extensive account of the family background of the Pilkington family; the historical background to the flat glass industry in Britain; the challenges posed and opportunities opened up by -- arrival and removal of competitors, excise duty and window tax, international competition from Belgium and tariffs on imports, new techniques and technological advancement, and labour crises and trade unionism. This book will be of interest to students and researchers of business, economics, and history.Due to modern production methods, it has not been possible to include some fold-out maps within the book. Any purchasers of the book will be able to receive a free pdf of the relevant pages by contacting Routledge Customer Services. https: //www.routledge.com/contacts/customer-service
The Economic Legacy of Jos矇 Joaqu穩n de Mora
This book examines the dissemination, adaptation, and application of classical economic ideas within the Hispanic world through the life of Jos矇 Joaqu穩n de Mora. Focusing on the decades surrounding the creation of the Latin American republics, it highlights how ideas from the classical political economy, including liberalism and free trade, were pioneered in the work of Mora and disseminated across the Spanish speaking world. Particular attention is given to the influence of Mora in Argentina, Chile, Peru, and Bolivia and how he helped shape their economic development models and political environments.This book examines the essential role Jos矇 Joaqu穩n de Mora played in the ideological and political modernisation of Latin America. It will be of interest to students and researchers interested in the history of economic thought and the political economy.
Toward a More Strategic View of Strategic Planning Research
This book summarizes the current state of research on strategic planning and offers an agenda for future research.
The Solow Model of Economic Growth
This book not only continues the neoclassical tradition of thought in economics focused on quantitative economic change but also, and to a significant extent, discusses alternative approaches to certain questions of economic growth, utilizing conclusions that can be drawn from the Solow model.
Free Trade and the Us-China Trade War
This book aims to provide an analysis of the global trading system relating its implications to the globalization process. This book will interest those who wish to have a better understanding of the US-China Trade War and the challenges to the global trading system.
International Income Inequality
What causes inequality? This book features an international discussion on the economic causes of inequality between nations and addresses the causes and effects of world inequality and its possible remedies. The chapters in this book were originally published as a special issue of The Japanese Political Economy.
The Political Economy of Covid-19
This comprehensive book brings together research published during 2021 analysing the impact of the Covid-19 pandemic on the economy - on output and employment, on inequality, and on public policy responses.
Global Capitalism
In Global Capitalism (originally published in 1991), Richard Peet surveys the various approaches made by social theory towards seeing history in terms of its regional dynamics. He reviews environmental determinism, modernization, dependency, and world systems theories, and argues that the most capacious and dynamic model continues to be historical materialism.The volume presents a broad outline of global development through time, analysing primitive communism, lineage societies and the various kinds of tributary modes, and providing a closer examination of capitalism in terms of the phases and forms of its past and present. The author defends the centrality of structural Marxism to theories of global development and argues that its ideas can be furthered by the partial synthesis of other perspectives, such as the feminist critique.This book assumes no previous knowledge of the theories surveyed. It introduces complex material in an understandable form and will be valuable both to development professionals and to anyone interested in societal change.
Economics and Climate Emergency
This book explores a series of connected themes focused on the role economics and other influential forms of theory and thinking have played in creating the current predicament and the scope for alternatives and how they might be framed.
Phytotechnology with Biomass Production
This book explains the concept of using phytotechnology with biomass production to improve soil quality and produce a valuable product that has economic and social value. It is focused on the application of the second generation biofuel crops to slightly contaminated or marginal post-military and post-mining soils and based on global field studies.
The Economic Rise of China
This book seeks to reinvigorate debates on the growing forces influencing China's social and economic evolution. It draws attention to several neglected areas in the discussion of China's rapid economic expansion.
Feminism and Gender Research in Japan
The chapters in this volume illuminate important dimensions of gender inequality in Japan - in relation to class, and in comparison to other countries. The book considers the relation of gender inequality to neoliberal policies, and the implications of gender inequality for social reproduction.
Innovative Behavior of Minorities, Women, and Immigrants
The chapters in this book represents foundational research for a nature versus nurture discussion as it relates to innovative behavior, especially a discussion that considers the innovative behavior within and among entrepreneurial organizations.
The Impact of E-commerce on Selective Distribution Systems
Research Paper (undergraduate) from the year 2018 in the subject Business economics - E-Commerce, grade: A+, University of the West Indies, course: Bachelors of Law, language: English, abstract: Due to the rapid and consistent progression and development of information technology and computer science, widespread use of the internet has catapulted internet sales and e-commerce. E-commerce brings with it many pros and cons. In addition, it significantly affects agreements between the various players of competition law. This research paper seeks to analyse the impact of e-commerce on vertical agreements, particularly, selective distribution agreements. Vertical agreements are agreements which are entered into by undertakings or firms which operate at different levels of the market. Selective distribution systems are a type of vertical agreement within which a supplier sells goods or services to distributors who are obliged to sell these goods or services based on specific criteria. Throughout this paper, the repercussions of e-commerce which are experienced by manufacturers, distributors and consumers will be examined in order to determine the role and effect of e-commerce on selective distribution systems. There will also be critical examination of the rules governing vertical agreements in the European Union and an assessment of their appropriateness and applicability. The pertinency of the aforementioned rules will be discussed and recommendations will be made accordingly. Both primary and secondary sources are to be utilized in the execution of this research paper. Through a critical examination of such materials, there will be thorough analysis of the primary focus of this paper, the impact of e-commerce on selective distribution systems.
What Drives Pricing Behavior in Peer-to-Peer Loan Primary and Secondary Markets?
Bachelor Thesis from the year 2022 in the subject Economics - Finance, grade: 1,7, University of Frankfurt (Main) (Wirtschaftswissenschaften), language: English, abstract: Two regressions were used to analyse the composition of the interest rate on the primary market and the discount rate on the unregulated secondary market of the Estonian peer-to-peer lending platform Bondora. Furthermore, it was investigated how different dummy variables affect the pricing behaviour on the primary market, and if Bondora fulfills the classic peer-to-peer promises. What drives pricing behavior in peer-to-peer loan primary and secondary markets? To answer this question, datasets from the P2P platform Bondora are examined. For the pricing behavior on the primary market, the effects of different variables on the interest rate set by the platform on Bondora are tested. The pricing behavior on the secondary market, on the other hand, is investigated regarding the discount rate. It can be used to examine which factors of a loan lead to its shares being sold at a premium or discount to the fundamental value. The regressions revealed that the expected loss has the strongest influence on the interest rate in the primary market. The effect of the expected loss on the interest rate was positive. However, gender also plays an important role in determining the price of a loan, it was found that women pay a significantly smaller interest rate than men. In general, a large part of the variance of the interest rate can be determined with the presented models. In contrast, pricing behavior in the secondary market is not as easy to predict, probably due to irrationality and cognitive limitations. Although all variables in the secondary market regression were significant, the adjusted R2 was very small at 1%. The days since the borrower defaulted had the largest impact on the price in terms of amount. Curiously, more days in default even meant that the loan share was more likely to be sold at a prem
The Benefits of International Market Research. Introducing Disneyland to New Markets.
Essay from the year 2019 in the subject Economics - Macro-economics, general, grade: 2,3, language: English, abstract: This paper will look into the benefits of international market research for a global company like The Walt Disney Company when expanding to foreign markets on the example of the financial disaster of Disneyland Paris. After an introduction to international market research and the Walt Disney Company, secondary market data of Disneyland California and Paris will be compared. From the data a conclusion will be drawn, if a global company like the Walt Disney Company can operate with only one market concept or if international market research and a small adaptation of the concept to the foreign market has any significant benefits in terms of market success. Nowadays, the Walt Disney Company is known all over the world. It has set up different businesses in over 40 countries, including six Disneyland resorts. When Walter Elias Disney created the plan for the first Disneyland, the Disneyland Resort in California, he had a vision of a constantly growing and changing amusement park full of imagination. After Walter Elias' death and the financial success of the first Disneyland in California, the Walt Disney Company tried to continue to fulfill his vision. They created new Disneyland's in Florida, Tokyo, France, Hongkong and Shanghai. All of the amusement parks generated huge profits for the Walt Disney Company except Disneyland Paris, which makes losses of nearly 2 billion. As the Disneyland concept worked in California, Florida and Tokyo, the Walt Disney Company did not consider it as necessary to do profound market research before opening Disneyland Paris.
Stop Racing in a Blindfold!
There has been a surge in business-to-business market changes and customer demand for pricing transparency-juiced in part by the aftermath of the pandemic and its supply chain disruptions. This updated 2nd edition provides a conversational introduction that shows how every business can apply data science capabilities to their pricing challenges. The author has been applying the basic tools and techniques of AI/ML to pricing challenges across 25+ different industries for over 32 years.Some of them any topics addressed are: Why a one-size-fits-all general price increase hurts profitability.Why pricing analytics (like price waterfalls) are useful but are not a silver bullet.What challenges businesses face when using just a business analytics reporting approach.What price segmentation is and how it benefits businesses.What four key steps drive a pricing science solution.How pricing science helps Sales avoid leaving money on the table and helps them win deals faster.Why improving profitability is not just a technical task, it is a leadership and management challenge.
Floating Exchange Rates at Fifty
Fifty years ago, in March 1973, the major industrial economies abandoned fixed exchange rates, conclusively ending the post-World War II Bretton Woods arrangements. Proponents believed their action would strengthen countries' ability to reconcile domestic macroeconomic policies with the balance of payments. But opponents feared it would initiate a new era of instability and financial shocks. Since 1973, much of the world has moved away from fixed exchange rates to a variety of regimes based on considerable exchange rate flexibility. But international trade conflicts and unstable capital flows, along with a rise in financial crises around the world, have nonetheless accompanied the global shift away from exchange rate pegs. How has the international monetary system performed over the past half century? What have we learned from the experience of more flexible exchange rates? What has been the impact on macroeconomic and financial stability in the years since? This book derives from papers delivered at a conference that brought together leading economists and policymakers to debate and discuss these questions, as well as to assess the evolution of the international monetary system, the dominance of the US dollar, and the role of exchange rate regimes in shaping the world economy.
The Economics of Inequality
With an emphasis on data, theory and policy, the third edition of this introductory-level text book tackles each issue by exploring three key questions in each chapter: What does the data tell us about what has been happening to the American economy? What are the economic theories needed to understand what has been happening?
Digital Progress and Trends Report 2023
Digitalization is the transformational opportunity of our time. The digital sector has become a powerhouse of innovation, economic growth, and job creation. Value added in the IT services sector grew at 8 percent annually during 2000-22, nearly twice as fast as the global economy. Employment growth in IT services reached 7 percent annually, six times higher than total employment growth. The diffusion and adoption of digital technologies are just as critical as their invention. Digital uptake has accelerated since the COVID-19 pandemic, with 1.5 billion new internet users added from 2018 to 2022. The share of firms investing in digital solutions around the world has more than doubled from 2020 to 2022. Low-income countries, vulnerable populations, and small firms, however, have been falling behind, while transformative digital innovations such as artificial intelligence (AI) have been accelerating in higher-income countries. Although more than 90 percent of the population in high-income countries was online in 2022, only one in four people in low-income countries used the internet, and the speed of their connection was typically only a small fraction of that in wealthier countries. As businesses in technologically advanced countries integrate generative AI into their products and services, less than half of the businesses in many low- and middle-income countries have an internet connection. The growing digital divide is exacerbating the poverty and productivity gaps between richer and poorer economies. The Digital Progress and Trends Report series will track global digitalization progress and highlight policy trends, debates, and implications for low- and middle-income countries. The series adds to the global efforts to study the progress and trends of digitalization in two main ways: - By compiling, curating, and analyzing data from diverse sources to present a comprehensive picture of digitalization in low- and middle-income countries, including in-depth analyses on understudied topics. - By developing insights on policy opportunities, challenges, and debates and reflecting the perspectives of various stakeholders and the World Bank's operational experiences. This report, the first in the series, aims to inform evidence-based policy making and motivate action among internal and external audiences and stakeholders. The report will bring global attention to high-performing countries that have valuable experience to share as well as to areas where efforts will need to be redoubled.
AI-Driven Blockchain Investments
In "AI-Driven Blockchain Investments: Opportunities and Challenges," author Joseph H. Rodgers embarks on an enlightening journey to explore the dynamic intersection of artificial intelligence (AI) and blockchain technology within the investment realm. This compelling book delves into how AI is revolutionizing the way we approach blockchain investments, offering readers an in-depth look at the transformative potential and the unique set of challenges this convergence presents. Rodgers meticulously unpacks the complexities of blockchain technology, demystifying how its decentralized nature can benefit from AI's predictive analytics and data-driven decision-making capabilities. He guides the reader through a variety of innovative strategies, showcasing how AI can enhance portfolio management, improve risk assessment, and unlock new investment opportunities in the volatile cryptocurrency market. However, "AI-Driven Blockchain Investments" does not shy away from the hurdles facing investors and technologists. Rodgers critically examines the ethical considerations, regulatory landscapes, and technological barriers that accompany the integration of AI into blockchain ventures. Through expert analysis and real-world case studies, the book provides valuable insights into navigating these challenges, ensuring readers are well-equipped to capitalize on the opportunities AI and blockchain present. Perfect for investors seeking to edge into the future of finance, technology enthusiasts, and anyone intrigued by the marriage of AI and blockchain, Rodgers' work serves as a comprehensive guide to understanding and harnessing the power of these two groundbreaking technologies. "AI-Driven Blockchain Investments: Opportunities and Challenges" is an essential read for anyone looking to navigate the future of investments with confidence and insight.
Is There Poverty in Your Cup of Coffee?
Coffee is a favourite beverage to many all over the globe. It has a reputation as one of the world's most widely consumed beverages. Over the years, there have been different innovations where coffee outlets, cafes, and others introduced new ways of serving customers. This book provides an overviews of the global coffee value chain and highlights the need for sustainability through partnerships at all levels. The book is structured as follows: Chapter One introduces coffee as the world's favourite beverage, highlighting global consumption and zooming in on the European and North American markets. The Nordic countries notably have a higher per capita consumption than others, followed by other European nations, with evidence of Europe's position as the most significant destination of all coffee imports from the producing countries. Chapter Two focuses on consumption in the rest of the world, covering Latin America, Asia, Oceania, and Africa - the significance of the emerging markets and the potential in those markets are noteworthy. Chapter Three focuses on Coffee and Health, and discusses various studies that show the benefits of moderate coffee drinking and advice on modest consumption based on scientific evidence.Chapter Four discusses coffee and poverty - the hot topic. The chapter highlights the plight of the coffee producers, the unfavourable conditions under which they operate and a call for action to all concerned parties. Chapter Five focuses on where the coffee is grown, pointing out the top-producing countries and how it is grown in those countries. Brazil is the top producer, and the Latin American region leads in production, accounting for almost 60 per cent of the global output. Some smaller producers are also mentioned, especially for their exceptional quality.Chapter Six discusses coffee and culture and explicitly highlights the Ethiopian coffee ceremony. All connoisseurs want this encounter, which starts with roasting the beans in a clay or metallic skillet over a charcoal stove. The roast's aroma fills the room - an important Ethiopian experience. After roasting the coffee, the traditional method of getting the ground powder is by pounding the roasted beans in a mortar using a wooden pestle. Subsequently, the powder is poured into a clay pot with boiling water, which is generally left on the fire and from which the beverage is served to all in small round cups. It is also ensured that coffee keeps brewing in such a pot as the ceremony goes on so all those present can drink as much as they want. The coffee cultures in the different countries are mentioned and discussed. However, there is a discussion on the origins of both Arabica and Robusta, the two commonest types, explicitly focusing on Ethiopia as the origin of Arabica coffee and Uganda as the origin of Robusta and the Buganda coffee culture.Chapter Seven discusses the genesis of the World Coffee Producers Forum as the producers' initiative to address farmers' global plight and what it has achieved. Chapter Eight looks at some innovations that could increase producers' earnings. These are not exhaustive but give a glimpse of some current actions, acknowledging that there is much more to do to address the issue of poverty among coffee producers. Chapter Nine discusses a few transformational ideas and their potential impact on the global coffee industry. Chapter Ten handles the proposed path to prosperity for producers. In contrast, Chapter Eleven discusses some emerging issues that the producers closely follow and watch. Chapter Twelve narrates the author's story and coffee experience, which provided the background to the writing of this book.
An Economic Theory of Home Schooling
In this book, Brian Baugus examines home schooling as an education enterprise, arguing that successful home school families have the same characteristics and motivations as entrepreneurs. Baugus examines the history and economic theories behind home schooling to explain the rational decision-making that motivates home schooling endeavors, examining dissatisfaction with mainstream education, expectations of return on investment, and resistance from established providers.
Restoring Sustainable Macroeconomic Policies in the United States
By looking at the macroeconomic frameworks and experiences of countries such as Germany, Sweden, and Switzerland, Restoring Sustainable Macroeconomic Policies in the U.S. presents a way for the United States to normalize fiscal and monetary policy in order to achieve sustainable debt in the post-COVID-19 era.
Market Process and Market Order
This interdisciplinary volume explores and engages the key thinkers and ideas of the Austrian School of political economy to better understand aspects of the market process and its implications for everything from disaster recovery and political development to morality and monetary policy.
Time series assignment. The significance of Okun's law in forecasting economic growth
Academic Paper from the year 2022 in the subject Business economics - Economic Policy, grade: 93, University of Cape Town (Commerce), course: Quantitative Methods for Economists, language: English, abstract: This paper aims to analyse the relationship between unemployment rate and economic growth in the United States of America (US) which can be explained by the Okun's law. It uses time series data on Gross Domestic Product (GDP) and unemployment to test the significance of Okun's law in forecasting economic fluctuations in the country. With the aid of data analysis and several regressions, this paper finds resounding evidence to conclude that despite the widespread popularity, acceptance and applicability of the Okun's law, it is not the most effective forecasting tool for economic growth in the US.
Markets with Chinese Characteristics
Before the First Opium War, from 1839-1842, China had long had substantial commercial activity. After Europeans forced the country to open up to the West, one of the Western ideas to which China was exposed was economic liberalism. This way of thinking had never cohered as a doctrine in China, even though aspects of it can be found in older Chinese thought.After 1842, many influential people in China came to see economic liberalism as the key to saving China. Similar claims would be made at various times for social Darwinism, women's rights, Christianity, and ultimately Marxism, under which economic liberalism was tarred as nothing more than a fa癟ade for colonial exploitation. After 1949, under Marxism, China was driven to extreme. Then, in desperation, its leaders awkwardly harnessed economic liberalism in practice to Marxism in theory. This harnessing of liberalization unleashed prosperity and substantial social changes, beginning in the late 1970s. But today the leaders of the Chinese Communist Party (CCP) want, above all, to maintain power, and they fear China now has too much economic liberalism.
Public Debt Sustainability
This book examines the issue of debt sustainability from an international perspective, with reference to European countries, emerging nations, and the United States.
Falling Long-Term Growth Prospects
A structural growth slowdown is under way across the world: at current trends, the global rate of potential growth is expected to fall to a three-decade low over the remainder of the 2020s. Nearly all the forces that have powered growth and prosperity since the early 1990s have weakened. In addition, a series of shocks has affected the global economy over the past three years. A persistent and broad-based decline in long-term growth prospects imperils the ability of emerging market and developing economies to combat poverty, tackle climate change, and meet other key development objectives. The challenges presented by this potential inability call for an ambitious policy response at the national and global levels. This book presents the first detailed analysis of the growth slowdown and a rich menu of policy options to deliver better growth outcomes. ------------------------------------------------------------------------------------------------------------- This book presents a sobering analysis of the secular growth slowdown based on the most comprehensive database of potential growth estimates available to date. With nearly all the forces that have driven growth and prosperity in recent decades now weakened, the book argues that a prolonged period of weakness is under way, with serious implications for emerging market and developing economies. The authors call for bold policy actions at both the national and global levels to lift growth prospects. The book is essential reading for policy makers, economists, and anyone concerned about the future of the global economy. Beatrice Weder di Mauro Professor of International Economics, Geneva Graduate Institute, and President of the Centre for Economic Policy Research (CEPR) Economic policy making is becoming increasingly complicated in the 2020s. In addition to tackling traditional trade-offs in aggregate demand management and improving efficiency on the supply side, policy makers need to address new priorities and challenges, from addressing climate change and its impacts to improving income distribution, all in the context of lower growth rates, waning productivity growth, and flattening of the globalization process that has brought unprecedented prosperity across the globe and lifted more than a billion people out of poverty. In Falling Long-Term Growth Prospects, the authors do a phenomenal job of assessing these trends at the global and regional levels, identifying and unpacking salient twenty-first-century policy challenges, and providing thoughtful and evidence-based policy prescriptions for leaders in advanced, emerging market, and developing economies. Importantly, the book underscores that these challenges tend to be global and, hence, global cooperation at all levels is necessary to achieve optimal results. Alas, we seem to be going in the opposite direction; this book offers a road map to put us back on the path to creating a more integrated, prosperous, and equitable global community. Michael G. Plummer Director, SAIS Europe and ENI Professor of International Economics, The Johns Hopkins University
Women, Business and the Law 2024
Women, Business and the Law 2024 is the 10th in a series of annual studies measuring the enabling conditions that affect women's economic opportunity in 190 economies. To present a more complete picture of the global environment that enables women's socioeconomic participation, this year Women, Business and the Law introduces two new indicators--Safety and Childcare--and presents findings on the implementation gap between laws (de jure) and how they function in practice (de facto). This study presents three indexes: (1) legal frameworks, (2) supportive frameworks (policies, institutions, services, data, budget, and access to justice), and (3) expert opinions on women's rights in practice in the areas measured. The study's 10 indicators--Safety, Mobility, Workplace, Pay, Marriage, Parenthood, Childcare, Entrepreneurship, Assets, and Pension--are structured around the different stages of a woman's working life. Findings from this new research can inform policy discussions to ensure women's full and equal participation in the economy. The indicators build evidence of the critical relationship between legal gender equality and women's employment and entrepreneurship. Data in Women, Business and the Law 2024 are current as of October 1, 2023. wbl.worldbank.org
Lives of the Laureates, Seventh Edition
Autobiographical accounts by Nobel laureates reflect the richness and diversity of contemporary economic thought and offer insights into the creative process; with six new laureates. Lives of the Laureates offers readers an informal history of modern economic thought as told through autobiographical essays by thirty-two Nobel Prize laureates in economics. The essays not only provide unique insights into major economic ideas of our time but also shed light on the processes of intellectual discovery and creativity. The accounts are accessible and engaging, achieving clarity without sacrificing inherently difficult content. This seventh edition adds six Nobelists to its pages: Roger B. Myerson (co-recipient in 2007) describes his evolution as a game theorist and his application of game theory to issues that ranged from electoral systems to perverse incentives; Thomas J. Sargent (co-recipient in 2011), recounts the development of the rational expectations model, which fundamentally changed the policy implications for macroeconomic models; Amartya Sen (recipient in 1998) reflects on his use of a bicycle (later donated to the Nobel Museum) to collect data early in his career; A. Michael Spence (co-recipient in 2001) describes, among other things, his whiplash-inducing first foray into teaching an undergraduate class; Christopher A. Sims (co-recipient in 2011) discusses his "non-Nobel" research; and Alvin E. Roth (co-recipient in 2012) chronicles the "three insurrections" he has witnessed in mainstream economics. Lives of the Laureates grows out of a continuing lecture series at Trinity University in San Antonio, which invites Nobelists from American universities to describe their evolution as economists in personal as well as technical terms. The LaureatesW. Arthur Lewis, Lawrence R. Klein, Kenneth J. Arrow, Paul A. Samuelson, Milton Friedman, George J. Stigler, James Tobin, Franco Modigliani, James M. Buchanan, Robert M. Solow, William F. Sharpe, Ronald H. Coase, Douglass C. North, John C. Harsanyi, Myron S. Scholes, Gary S. Becker, Robert E. Lucas, Jr., Vernon L. Smith, Clive W. J. Granger, Edward C. Prescott, Thomas C. Schelling, Edmund S. Phelps, Eric S. Maskin, Joseph E. Stiglitz, Paul Krugman, Peter A. Diamond, Roger B. Myerson, Thomas J. Sargent, Amartya Sen, A. Michael Spence, Christopher A. Sims, Alvin E. Roth
The Framework for Resilient Industry
Countries such as India, Pakistan, Bangladesh, and Sri Lanka have economies that are categorised as capital deficit, whereas economies with abundant capital - such as those in Western Europe and North America - have lost little value in comparison during the global pandemic and other economic periods of this downturn. It is therefore a question of resilience that separates these developing economies. The Framework for Resilient Industry examines the historical background of the Indian industry, its current status, and future opportunities and challenges. The chapters frame the historical context of the Indian industry and delves into region-specific issues such as micro, small, and medium enterprises (MSMEs), economic policy, risk management and sustainable industries. The findings are valuable to policymakers, industrialists, and governments, both state and central, through efficient analysis. Academics, researchers, and students will also benefit from this discourse on economic resiliency. Emerald Studies in Finance, Insurance, and Risk Management provides a platform for authors to explore, analyse and discuss current and new financial models and theories, and engage with innovative research on an international scale. Subjects of interest may include banking, accounting, auditing, compliance, sustainability, behaviour, management, and business economics.
Theoretical Framework for Structured Incubators to Address Macroeconomic Problems
Diploma Thesis from the year 2023 in the subject Economics - Macro-economics, general, grade: Post Doc- Accepted., course: Post Doc, language: English, abstract: This study aims to investigate the possibility of creating structured, entrepreneurial incubators to address macroeconomic problems. Various countries face Macro Economic problems such as energy, pollution, water shortage, and unemployment. Formal SMEs contribute up to 40% of GDP in emerging markets and provide 70% of employment. The possibility of incubating SMEs to address Macro Economic Problems should be investigated to stimulate the Economic Emancipation of the youth. The principle of a "structured incubator" is born from the problem that the formal economy can no longer supply the required growth in "jobs" that our society needs. Instead, economies must create "marginal" capacity and new industries to facilitate the "economic emancipation" of its people. Business incubation is one of the most viable tools for increasing the number of small businesses. South Africa needs a new framework to develop the structured incubators' role in creating small businesses. Such structured incubators would need to capacitate themselves to take entrepreneurship to scale. New SMEs can be developed in construction, catering, water saving, e-waste, hairdressing, plastic recycling, retail, trade, solar, and many other industries if individuals can be capacitated in cohorts to become SMEs. The need for structured incubators is supported by a literature review, a survey of youth needing economic emancipation, an industry analysis and the researcher's experience in training young entrepreneurs. The grounded theory approach is used to identify concepts and categories that inform the themes in support of structured incubators. Given the above, we must equip people with skills to become less dependent on the state. Macroeconomic problems should be viewed as the source from where SME opportunities emerge. A framework for
A New Left Economics
Exploring how the economy can develop and grow by upholding the social contract and giving social partners like trade unions the space and a key role in this new economy, A New Left Economics reviews the dominant neo-classical economic paradigm and provide insights into a new economic model by critically assessing the new left economics. Through revisiting Keynes and the relevance of Keynesian economic thinking today, von Brockdorff and Spiteri argue for going beyond GDP to a more social model based on welfare, reclaiming the word 'welfare' from neoclassical economics in the process. Incentivising the social economy enterprise model is also key to this new paradigm shift - the focus is never on curbing economic activity, but rather on making it work for more people to generate greater welfare. These could include cooperatives and employee-owned models, right through to certain circular economy models that promote social wellbeing. This is an accessible and intriguing text focusing on new left economics, revisiting and modernising Keynesian economic thinking to frame a basis for an economy with a strong social focus.
European Glacial Landscapes
European Glacial Landscapes: The Holocene presents the current state of knowledge on glacial landscapes of Europe and nearby areas over the Holocene to deduce the influence of atmospheric and oceanic currents and the insolation forcing variability and volcanic activity on Holocene paleoclimates, the existence of asynchronies in the timing of occurrence of glacier expansion and shrinkage during the Holocene, time lags between the identification of oceanic and atmospheric changes and those occurring in glacial extension during the Holocene, the role of Holocene glaciers on the climate of Europe, and on sea level variability, and the delimitation of landscapes that need special protection. Students, academics and researchers in Geography, Geology, Environmental Sciences, Physics and Earth Science departments will find this book provides novel findings of all the major European Regions in a single publication, with updated information about Holocene glacial geomorphology and paleo-climatology and clear figures that model the landscapes covered.
International Economics
This text integrates trade theory and open economy macroeconomics with straightforward diagrams and numerous examples. The emphasis is on the gains from competitive trade and the limits of policy. Economics began with the political debate over import tariffs in England. Tariffs lead to net economic losses, except in a few circumstances, and would then lead to retaliation. Consumers and firms importing intermediate inputs lose due to tariffs, as do export industries when other countries retaliate with tariffs of their own. Import competing industries and the government gain from tariffs.The present approach integrates theories of market behavior and general equilibrium on the microeconomic side. Exchange rate theory bridges from trade theory into balance of payments theory. In the final chapter on open economy macroeconomics, the limits of monetary and fiscal policies due to the competitive foreign exchange market is the focus.Theoretical diagrams present the theory without assuming intermediate theory. Numerous problems for each section build confidence in applying the theory. Boxed examples illustrate the importance of theory. Each chapter includes a concise mathematical appendix that should appeal to students with interest and to instructors preparing for class.
International Economics
This text integrates trade theory and open economy macroeconomics with straightforward diagrams and numerous examples. The emphasis is on the gains from competitive trade and the limits of policy. Economics began with the political debate over import tariffs in England. Tariffs lead to net economic losses, except in a few circumstances, and would then lead to retaliation. Consumers and firms importing intermediate inputs lose due to tariffs, as do export industries when other countries retaliate with tariffs of their own. Import competing industries and the government gain from tariffs.The present approach integrates theories of market behavior and general equilibrium on the microeconomic side. Exchange rate theory bridges from trade theory into balance of payments theory. In the final chapter on open economy macroeconomics, the limits of monetary and fiscal policies due to the competitive foreign exchange market is the focus.Theoretical diagrams present the theory without assuming intermediate theory. Numerous problems for each section build confidence in applying the theory. Boxed examples illustrate the importance of theory. Each chapter includes a concise mathematical appendix that should appeal to students with interest and to instructors preparing for class.
Systems of Deceit
Financial fraud is a serious and seemingly intractable problem. Financial scandals regularly punctuate newspaper headlines and regulators and auditors appear bereft of effective responses. But has this always been the case?This book quantifies financial crime in the UK using three centuries of data. It demonstrates how financial fraud and scandal vary according to systematic economic and institutional arrangements. In doing so, it retells the history of British capitalism, from the mercantilism of the eighteenth century to the financial capitalism of the twenty-first century, illustrating the often negative consequences of economic ideology, policy and structure. It identifies periods when fraud has been less problematic and contrasts these with times when it has surged. The variation of outcomes reflects the balance of power between the state, industrial and financial sectors, the provision of credit through risky lending, and the effectiveness of audits. 'Rogue traders' and other flawed individuals are frequently the focus of blame narratives constructed with the intention of deflecting comprehensive systematic reforms.
