This book offers a comprehensive comparative perspective on the increasingly significant development cooperation activities of the BRICS. Providing a powerful set of insights into the drivers for engagement within each country, it brings together leading experts from Brazil, Russia, India, China, South Africa and OECD countries. The authors review the empirical evidence for the BRICS' modes of development cooperation and their geographical reach, and explore the historical background and patterns of international development engagement of each country. They also present a cutting-edge analysis of the broader geopolitical shifts, distinctive ideologies and normative discourses that are influencing and informing their engagement in increasingly ambitious joint projects such as the New Development Bank. This collection is essential reading for anyone seeking to understand the rapidly changing landscape of international development.

Today, the role of emerging countries in the world economy is significant. However, the financial sector has experienced a decade of turbulence and as a result emerging markets are facing unique challenges. Moreover, the integration of emerging markets into the global financial markets has significant consequences for the growth and stability of the economy and sets new challenges for economic policy-makers. The biggest challenge is in finding ways to sustain their current trajectory and in taking a more decisive role in shaping the global financial architecture to ensure sustainable growth. They need to ensure a collective prudential system can be built in the near future to withstand the difficult challenges ahead.
"Emerging Markets and Financial Resilience" brings together the latest research on the most pressing issues affecting finance in emerging markets. Written in five parts, the book includes newly emerging research topics in finance such as the role of social capital and natural resource in financial market development; and socially responsible investing funds in East Asian emerging markets. It also presents new empirical evidence on established research topics such as portfolio management, international parities, foreign direct investment, momentum anomalies and corporate finance. "Emerging Markets and Financial Resilience" is an ideal resource for researchers, postgraduate students, practitioners and regulators interested in Asia as an emerging market.

The rise of globalization has affected the ways in which nations maintain sustainable development and economic prosperity. Certain countries, such as Turkey, have evolved into a place of particular importance in the changing global economy. As such, it has become more important than ever to better understand the crucial role of such nations on an international scale. Comparative Economics and Regional Development in Turkey is an authoritative reference source for current scholarly research on the influence of Turkey in today's global environment and how the country can maintain long-term sustainability and prosperity. Featuring extensive coverage on a variety of pertinent topics on sustainable industries, contemporary globalization, and the impact of information and communication technologies, this book is an essential reference source for practitioners, business executives, advanced-level students, and academicians seeking the latest research on the role of Turkey in today's worldwide economy. This book features timely, research-based articles spanning all areas of regional economics, including topics such as consumer confidence, the Turkish shadow economy, international business initiatives, economic development in the MENA region, strategic optimization strategies, and more.

Economists increasingly agree on the nature of the development and social policies needed to halve poverty over the next ten years. A similar convergence is nowhere in sight in the case of macroeconomic policies. Disagreements in this area remain significant, exacerbated by rising financial instability and a string of banking and currency crises that impacted negatively on poverty, growing macro imbalances in some industrialized countries and the rapid development of difficult-to-regulate international financial markets. This volume presents a pro-poor macroeconomic policy allowing countries to recapture policy space, help promote growth, reduce inequality and diminish poverty in a sustainable way.

"International experts evaluate new policy directions in economic development and poverty reduction, building on the ideas of a pioneer in the new discipline of Development Studies, Frances Stewart. Combing ideas and evidence on technological change, human development and conflict prevention to address the issue of the persistence of inequality"--

This book examines the economy as an evolving entity and develops a new and coherent approach to the classification of economic systems. It demonstrates how the components of a decision-making system and the properties of a functioning economy are intrinsically linked. A well-functioning economy is shown to depend chiefly on 'correct' decisions. These in turn depend on an efficient decision-making system, an appropriate mix of markets, organizations and governments, and an optimal combination of the four enforcing mechanisms of a modern economic system: custom, command, competition and cooperation. Although this book is primarily about economics, non-economic considerations, including politics and ethics, are brought into the analysis. The most important decisions in life include choices between economic and non-economic issues. Hence, one of the aims of this book is to provide a conceptual framework to cope with these choices. The book also attempts to establish some plausible conditions for well-functioning economy and a 'just society'. This thoughtful book will be of interest to economists of economic theory and economic systems as well as policymakers in both the private and public sectors.

ICTs in Developing Countries is a collection of conceptual and empirical works on the adoption and impacts of ICT use in developing societies. Bringing together a wide range of disciplines and contributors, it offers a rich examination of digital divide and ICT for development both in terms of contextual information and disciplinary perspectives.

Recent developments in economics have gone from the recognition of the importance of innovation for growth and the exploration of innovation mechanisms to the incorporation of the results of the previous research into economic models. An important lesson to be drawn from all this research is that a purely macro-based analysis of growth is not enough. The various mechanisms of innovation creation and diffusion, the importance of agent heterogeneity, of market selection processes, of the internal organization of the firm and of organizational routines, and the obsolescence and the consequent emergence of new types of capital goods are a few examples of micro-economic phenomena that contribute decisively to macro-economic development. The papers in this volume approach those issues from a Schumpeterian point of view and tackle issues like the growing importance of knowledge and human capital; increasing returns and path dependence; the role of variety in economic growth; competition and industry evolution.

There are many challenges facing the economies of developing countries. Capital volatility, financial crises, aid, debt and the IMF are all issues that have received a great deal of attention over recent years. In International Finance and the Developing Economies, Graham Bird provides an essentially non-technical discussion of these issues, examining the underlying political economy and discussing the policy alternatives that are available.

This book analyzes the development path of transition economies in European Countries and former Soviet Republics that have experienced the transformation from planned economies to market economies since the fall of the Berlin wall in 1989. It examines economic growth, institutional change and human development performance.

Why are poor countries poor? How can they get out of the poverty trap?
Sir Arthur Lewis (1915-1991) was the first person to answer these questions in a systematic way. But he was much more than this; he was also the first Afro-Caribbean to be a professor at a British university, and the first black man to win the Nobel Prize for Economics. He had to fight against prejudice, in a way which for us, the best part of a century later, is hard to imagine.
Lewis was also more than an academic economist. He believed 'that economics 'concerns life more than numbers', and wrote in a simple style, accessible to all. In Africa, the West Indies and Moss Side (Manchester) in the 1950s and early 1960s, side by side with his academic work, he was also working as an activist to try and achieve a fair deal for the poor. But those attempts ended in frustration, and he was astonished to be awarded the Nobel Prize, in 1979, when he thought he had been forgotten.
Barbara Ingham and Paul Mosley's biography describes the man, and the social relationships, behind these astonishing achievements. Although Lewis liked to present himself as a rational individualist who worked his way up by himself, both the ladders he managed to climb, and the snakes he often slipped down, cannot be understood without considering Lewis' friendships, rivalries and the structures of the societies in which he attempted, sometimes happily and sometimes disastrously, to intervene.

This volume reviews Africa's past experiences of social policy, with an eye on the future. Contributions examine a range of social policy issues around health care, education, the labour market and social welfare, and highlight important conceptual and policy issues for rebuilding Africa. What stands out from these studies is how well the post-colonial nationalist leaders understood the positive links between social policy and economic development, and the significance of economic and social policy for nation building.

Latin American and Caribbean countries are the most urban in the developing world and have very high home ownership rates. Many cities in the region also show high average family incomes for developing world standards. However, despite these accomplishments, many of the region's inhabitants are still poorly housed. Of the 124 million families living in the region's cities, five million rely on another family for shelter; three million live in houses that are beyond repair; and a remaining 31 million live in houses that lack either title, water, sewerage, adequate flooring, or sufficient space. Most of these dwellings and many more otherwise satisfactory homes are located in neighborhoods that lack many basic urban amenities. This book looks at both the determinants and consequences of these poor housing outcomes. Housing and neighborhood conditions strongly influence health, nutrition, education, and environmental outcomes, along with access to economic opportunities and vulnerability to social ills. The book examines, with new data sources and rigorous analytical methods presented in an accessible way, the three main related factors usually identified as key determinants of the region's poor housing outcomes: high housing prices relative to family income, lack of access to mortgage credit, and high land prices. The book also looks at the role of government policies and regulations as well as public housing programs, both at the local and federal level, in shaping housing outcomes in the region.

This book challenges the wide-ranging generalizations that dominate the literature on the impact of export-led growth upon Latin America during the first export era. The contributors to this volume contest conventional approaches, stemming from structuralism and dependency theory, which portray a rather negative view of the impact of nineteenth-century globalization upon Latin America. It has been considered that, as a result of the role of Latin American countries as providers of raw materials produced in enclaves dominated by foreign capital, their participation in the world economy has had adverse consequences for their long-term development. This volume addresses a representative sample of countries with varied initial conditions and resource endowments, a diverse productive specialization, as well as different degrees of integration to the world economy. This allows a direct comparison among the different experiences within the region, which in turn enables a more nuanced understanding of the contribution of exports to economic growth and economic modernization. Seven national case studies are presented - Argentina, Brazil, Colombia, Chile, Peru, Mexico and Bolivia - which offer an insight into the successes of a region traditionally viewed as disadvantaged by globalization and export-led growth. Winner of the Vicens Vives prize for the best economic history book granted by the Spanish Economic History Association.

This book argues that Russia has struggled under autocratic power and that this continues to affect economic development today. A 'cult of power' has underpinned legal nihilism, distrust, secrecy and aversion to transparency and accountability. Informal institutions are more important than formal institutions, and influence macroeconomic development. Property and power are merged while property rights are weakly developed. Russia does not only face market failure, but also hierarchy and network failure. A system of values and social practices, with deep historic roots, constitutes perhaps the most formidable obstacle to social and economic development.
By exploring the operating mechanisms of the Russian economy in a comparative perspective, and with fascinating insights into how a socio-economic infrastructure has been created which continues to exert an influence on modern-day Russia and limits its development, this book is an essential read for all interested in the Russian economy and modern Russian history.

This text explores the rise of consumerism and the expanding variety of goods available in Japan. Japan is placed within the comparative context of the 'consumer revolution' in Europe and North America, contributing to the analysis of the ways in which consumption and everyday life change in the course of economic development.

This book presents a state-of-the-art portrait of entrepreneurship in the transition economies of Central and Eastern Europe (CEE) and the Commonwealth of Independent States (CIS) as well as Georgia and Ukraine. Based on new empirical evidence, it highlights major trends in, characteristics and forms of entrepreneurship common to countries in transition. The contributions cover topics such as levels of opportunity-based entrepreneurship, incentives for innovation, dominance of large-scale international corporations, the role of family businesses, and opportunities for grass-roots entrepreneurship. The first part of the book focuses on theoretical considerations regarding the establishment of sustainable entrepreneurial ecosystems and private business. In turn, the second part offers cross-border studies of entrepreneurial environments and activities, while the third and fourth present case studies on the current state and unique characteristics of entrepreneurship in various countries of the CEE and CIS as well as Georgia and Ukraine. Finally, the last parts discuss the role of institutions and policy recommendations.

This important reader brings together published articles from Palgrave's journal The European Journal of Development Research on the development between China and Africa as well as emerging national economies in the BRICs group. Topics include trade relations, investment in sub-Saharan Africa, global politics of development and more.

This book examines how Japan should cope with fiscal challenges, as demands on the budget from an ageing society have necessitated the reigning in of public debt and the revamp of the pension and healthcare systems. It combines insights from academic research with the views of policymakers to distil key issues that need to inform public debate.

In light of the Asian financial crisis of 1997, Lai examines whether East Asian economies converged onto the liberal market model by studying the evolution of the financial sectors of Korea, Malaysia and Thailand. This includes sectoral diversification, the nature of competition, and the regulatory and supervisory frameworks.

Economic Development, Inequality and War shows how economic decline, income inequality, pervasive rent seeking by ruling elites, political authoritarianism, military centrality and competition for mineral exports contribute to war and humanitarian emergencies. Economic regress and political decay bring about relative deprivation, perception by social groups of injustice arising from a growing discrepancy between what they expect and get. Nafziger and Auvinen indicate that both economic greed and social grievances drive contemporary civil wars. Finally, the authors also identify policies for preventing humanitarian emergencies.

There are substantial opportunities and risks in establishing a successful business in developing countries. Financial and economic risks of doing business with developing countries, manifested in World Debt Crisis, require careful examination before a business venture is attempted. The book provides thorough historical information about LDCs' economies and causes of their indebtedness. The most recent data regarding economic performance, indebtedness, and infrastructure, of LDCs are presented as well. The book should prove useful to those considering business in developing countries and to scholars studying economic development and international business and finance.

Written without an extensive use of sophisticated models and jargon, the book is accessible to both academic and nonacademic readers. The book consists of four parts. The first part focuses on defining LDCs and analyzing their stages of economic development. The second part presents two background chapters to aid the reader to put LDCs into an economic and historical context. Part III examines the World Debt Crisis and its effects on developing countries and implications for business in these countries. The final part of the book develops a strategic planning model to assist businesses in deciding whether to do business in indebted LDCs and once the decision is made to guide implementation of business plans. Infrastructure is critical to the success of prospective business enterprise. An appendix presents the most recent and detailed information about infrastructure in LDCs along with an index developed to serve as a quantitative guide to the availability of infrastructure. The book also contains appendices that present detailed data on relevant financial and economic variables in developing countries and an annotated bibliography.

There are two great mysteries in the political economy of South Korea. How could a destroyed country in next to no time become a sophisticated and affluent economy? And how could a ruthlessly authoritarian regime metamorphose with relative ease into a stable democratic polity? South Korea was long ruled with harsh authoritarianism, but, strangely, the authoritarian rulers made energetic use of social policy. The Korean State and Social Policy observes South Korean public policy from 1945 to 2000 through the prism of social policy to examine how the rulers operated and worked.
After the military coup in 1961, the new leaders used social policy to buy themselves legitimacy. That enabled them to rule in two very different ways simultaneously. In their determination to hold on to power they were without mercy, but in the use of power in governance, their strategy was to co-opt and mobilize with a sophistication that is wholly exceptional among authoritarian rulers. It is governance and not power that explains the Korean miracle.
Mobilization is a strategy with consequences. South Korea was not only led to economic development but also, inadvertently perhaps, built up as a society rich in public and civil institutions. When authoritarianism collapsed under the force of nationwide uprisings in 1987, the institutions of a reasonably pluralistic social and political order were there, alive and well, and democracy could take over without further serious drama.
This book is about many things: development and modernization, dictatorship and democracy, state capacity and governance, social protection and welfare states, and Korean history. But finally it is about lifting social policy analysis out of the ghetto of self-sufficiency it is often confined to and into the center ground of hard political science.

The deregulation of domestic financial markets and the capital account in developing countries has frequently been associated with financial turmoil and macro volatility. The book analyzes the experience of Argentina, Brazil, Chile, China, Nigeria, Russia, South Africa, and Thailand, and draws implications for building development-friendly domestic and international financial architectures. The recommendations are made in light of the key challenge: to design and implement policies able to control macro volatility while building the rules of the financial game that will ultimately contribute to mitigating the sources of aggregate risk.

The Cold War was fought between "state socialism" and "the free market." That fluctuating relationship between public power and private money continues today, unfolding in new and unforeseen ways during the economic crisis. Nine case studies -- from Southern Africa, South Asia, Brazil, and Atlantic Africa - examine economic life from the perspective of ordinary people in places that are normally marginal to global discourse, covering a range of class positions from the bottom to the top of society. The authors of these case studies examine people's concrete economic activities and aspirations. By looking at how people insert themselves into the actual, unequal economy, they seek to reflect human unity and diversity more fully than the narrow vision of conventional economics.