Korea experiences a traumatic and largely unanticipated economic crisis in 1997-98 from which the country is still recovering. The crisis laid bare numerous structural, economic, and policy weaknesses. The authors chronicle and analyze the key factors behind Korea's economic miracle from 1962-1989 and the causes that contributed to the economic downturn and ensuing crisis of 1997-98. As the country undertakes a series of recovery measures, the authors consider the importance of the ongoing restructuring efforts in the corporate and banking sectors, the development of the 'new economy', and the potential economic advantages to be derived from reunification with the North.

The fear that China's competitive stress would trigger another Asian crisis, as China gobbles up foreign demand and capital at the expense of Asia, is flawed. This book seeks to analyze and dispel the myths behind the political rhetoric of the China economic threat to the global economy, and to identify the real risk for Asia behind the perceived China threat. The book combines rigorous research thoughts, data, facts and economic logic with real world examples and anecdotes to elaborate the arguments. Conventional thinking is debunked and the findings are provocative and irresistible.

This book discusses the role of inclusive innovation for development in rural India. It uses the evidence of innovation in the context of skewed or limited livelihood options and multiple knowledge systems to argue that if inclusive innovation is to happen, the actors and the nature of the innovation system need reform. The book presents cases of substantive technological changes and institutional reforms enabling inclusive innovation in rural manufacturing, sustainable agriculture, health services, and the processes of technological learning in traditional informal networks, as well as in formal modern commodity markets. These cases offer lessons to enable learning and change within the state and formal science and technology (S&T) organizations. By focusing on these actors central to development economics and innovation systems framework, the book bridges the widening conceptual gaps between these two parallel knowledge domains, and offers options for action by several actors to enable inclusive innovation systems. The content is thus of value to a wide audience consisting of researchers, policy makers, NGOs and industry observers.

This book presents insights from several countries in Latin America and beyond on how to organize critical sectors, such as education, roads and water, to improve quality, access and affordability. The innovative, multi-disciplinary studies in this volume discuss the outcomes of decentralization, school autonomy, participatory budgeting at the local level and other accountability mechanisms. Rich quantitative analyses are complemented and enhanced by insights from interviews and quotes from those on the front lines: politicians, bureaucrats and service providers; as well as a variety of case-studies focusing on wider political economy questions, on the intricacies of political competition and governance reform, and on public spending efficiency in countries as varied as Colombia, Peru, Chile and Uruguay. As the authors demonstrate, Latin America has much to share with the rest of the world in terms of governance and public service delivery experiments and learnings.

Do investments by multinational corporations in less developed countries enhance or hinder economic development in those countries? This volume presents a re-evaulation of twenty-seven of the most important studies which were carried out to answer this question. The authors attempt to resolve the disparate findings which show that investment promotes short-run growth but in the long run retards growth. They also present a careful empirical analysis of the intervening political, social, and economic mechanisms through which the effects of investment are transmitted. The volume will clarify much speculation which has taken place about the world-systems perspective and will point the way toward more research which can resolve disputed areas of this theory.

This book discusses Bangladesh's economic and social development that may be called a "miracle" since the country has achieved remarkable development progress under several unfavorable situations: weak governance and political instabilities, inequality, risks entailed in rapid urbanization, and exposure to severe disaster risks. The authors examine what led to this successful economic development, and the potential challenges that it presents, aiming to elicit effective policy interventions that can be adapted by other developing countries.

The book explains the problem of insufficient capital accumulation and growth in a less developed country. In conventional analyses, such explanations are often found exogenised in terms of factors such as socio-cultural attitudes towards saving and investment, irrationality of peasant behaviour, technological aspects of externalities and demographic parameters. This book provides an alternative explanation in terms of distribution of income and assets. Focusing on the agricultural sector of a developing economy, it describes how this approach can be extended to cover the industrial sector as well. Further, it develops a model that is then used to analyse the specific problem of capital accumulation in agriculture.

Developments in Chinese Entrepreneurship offers empirical evidence from cutting-edge research into the experiences and challenges of entrepreneurial activities and small business issues within China. As a leading emerging country, the entrepreneurial landscape in China provides useful insight for other developing economies in the areas of: Entrepreneurial finance The role of venture capital and angel finance in new venture development The influence of family dynamics on small business management The impact of prevailing local institutional norms and barriers on small business management Innovation, R&D, and entrepreneurial strategies The impact of government policy on small business management Survival and growth strategies for small businesses

Reclaiming Social Policy re-evaluates the importance of social policies in the shaping of well-being and combating exclusion, and enhances critical understanding of how these policies are constituted in a globalizing world. Written from a practitioner's perspective, the core concern of the book is the capacity for policy making required to protect groups from becoming excluded, promote inclusion, and avoid sharpening of trends towards marginalization. The book emphasises the context- and path-dependence of patterns and policies of inclusion and exclusion, and provides a normative and practical framework for supporting social policy making.

This book examines the options for adopting an appropriate model of the exchange rate determination and its associated regime suitable for developing countries, with a case study of Indonesia. It examines exchange rate issues, develops market based, equilibrium and shadow pricing exchange rate models for developing countries, and suggests a suitable approach which is based on the consideration of all these three types of models and the choice of its associated exchange rate regime. This book shows that a credible exchange rate regime and policy, which reduces uncertainty in the exchange rate market, may mitigate the flight to currency from broad money, and ensure the stability and certainty for private sectors, especially in terms of export competitiveness.

Globalization poses a formidable dilemma for the third world state. While there are compelling external pressures to liberalize domestic economies, market-oriented reforms threaten the economic well-being of various societal groups. Popular resistance to these reforms has been strong throughout the developing world. This volume examines the political strategies employed by third world governments to maintain programmes in the face of domestic opposition.

Both Taiwan and China are extremely populous nations that, due to population pressures and continuing high growth levels, have experienced challenges in sustainable development. Hsu illustrates Taiwan's path toward sustainable development and contrasts it to that of China, suggesting ways in which Taiwan can help China implement its environmental and social policies, and in which China might help Taiwan continue its path toward sustainable environmental and social policies. She explains that although Taiwan is a small compared to China, some aspects of its development model can (and should) be scaled up for larger countries. The importance of regulation enforcement is clear regarding Taiwan's environmental protection program, as is the promotion of small and medium sized enterprises in promoting income and social equality. Similarly, China's experimental methodology - using small areas to explore different ways of living or different technologies - can be useful in Taiwan. In Lessons in Sustainable Development, Hsu examines China and Taiwan in terms of inequality and environmental issues.

This book argues that economic inequalities are devastating the socio-economic and political potential of developing countries. Inequality is worsening in most parts of the developing world - this is a timely examination of its causes and consequences. It suggests political and policy solutions to inequality. It looks at data from over 150 countries in an accessible way. Inequalities of wealth and income have a significant impact for the achievement of economic, political and human development in developing counties. This book argues that a high level of economic inequality undermines a country's growth potential, retards the development of social capital, and encourages corruption.

Building on the New Economic Foundation and Jubilee 2000's experience of making complex economic issues interesting and attractive to a mass audience, and publishing alternative reports, the Real World Economic Outlook provides an overview and reviews the global economy from a different and radical perspective. This first report looks at globalization and debt deflation.

This book offers cross-national evidence of the effectiveness of financial and physical incentives for regional development. It challenges the traditional wisdom that competition is harmful for regional development or can be zero-sum. It answers questions such as: What are the effects of tax incentives on the rest of the economy? Do such incentives merely redistribute employment? Do tax and infrastructure incentives have any effect on the unemployment rate of areas adopting them?

The book brings together implementation studies from the Asia Pacific countries in the context of the deadline of 2015 for achieving the Millennium Development Goals. The contributors to this volume are scholars belonging to the Network of Asia Pacific Schools and Institutes of Public Administration and Governance (NAPSIPAG). NAPSIPAG is the only non-West governance research network presently located at Jawaharlal Nehru University, New Delhi after having shifted from its original location at INTAN (Government of Malaysia) at Kuala Lumpur in 2009. Implementation is a less understood but a much debated area of governance research. It requires micro-level analysis of government agencies, service delivery departments and stakeholders on one hand and its national and global policy level connections on the other. Implementation studies are above disciplinary divides and subsequent disjunctions which inhibit explorations on policy downslides or failures. The studies relate to the new initiatives which governments across the region have undertaken to reach out to the MDG targets agreed upon in 2000. The focus of analysis is the policy framework, local capacities of both the government agencies and people in drawing partnerships with relevant expert groups, ability to bring transparency and accountability measures in transactions for cost-effective results, leadership and sustainability dimensions which influence the functioning of local agencies. The book is especially important in the background of 15 voluminous Administrative Reforms Commission Reports accumulating dust in India and similar efforts lying unattended in many other countries of this region as well. Countries like Malaysia, which has focused upon implementation strategies combined with timely evaluation and supervision of administrative agencies has almost achieved most of their committed MDGs. A special report of Malaysian efforts, initiates the debate of moving beyond the best practice research in implementation arena. The central idea of this book is to demonstrate the role of communities in making governance effective and government responsive to the needs of people.

The advances in transportation and communications have caused and supported the emergence of a global economy. The small economies are especially attractive to multinational companies for siting of production facilities because of lower costs and friendlier governmental attitudes. The emerging international economy has had an impact on third world countries in many ways. In general, international linkages and local economic sovereignty are inversely related. However, participation in the international economy is needed to balance the import/export flow used to improve the conditions in the smaller countries. Although external economic linkages are not risk-free, it appears that a certain amount of foreign involvement is necessary for successful economic development and improvement of conditions for small emerging nations. This work uses the Caribbean nations as a laboratory to show the various aspects of international linkages. This is especially appropriate because of the proximity of these countries to the North American markets.

Since the early 1950s East Asia (China, Taiwan and South Korea) and South-East Asia (Indonesia, Malaysia, Thailand and Vietnam) have, despite war and other challenges, managed to transform the lives of their people, whereas South Asia (India, Pakistan, Bangladesh and Sri Lanka) has lagged behind. The success of East and South-East Asia has not been accidental - it has been driven by action to reduce rural poverty, by the provision of decent education and health services to the people, and by high quality physical and institutional infrastructure, such as roads, ports and railways, and targeted support from the State to develop particular industries. In contrast, Pakistan has never confronted the problem of rural poverty, nor invested in public services. This failure is a reflection of the power of the landed class and its urban allies. This has now taken the form of widespread rent-seeking in the economy with the country's ruling elite sharing out the spoils amongst themselves rather than taking measures to grow the size of the economy so that all might share in the resulting prosperity. Rentier Capitalism sheds light on the reasons behind Pakistan's failure to bring prosperity to its people when compared to other East Asian and South-East Asian countries.

This book provides a deep insight into the market changes and policy challenges that transition economies have undergone in the last twenty years. It not only comments on and evaluates the development of financial markets in transition economies, but also highlights the key obstacles to full integration of financial markets into the EU market.

Since 1999, Tanzania has been actively pursuing reforms of how the central government finances local government activities. Although local government authorities play a significant role in the delivery of key government services such as primary education and basic health care, the central government tightly controls the resources which it provides to the local government level. The book presents a detailed overview and analysis of the issues involved in developing and implementing local government finance reform in Tanzania, including the introduction of a formula-based system of intergovernmental grants.

The subject of this book is supply chain logistics planning optimization under multiple uncertainties, the key issue in supply chain management. Focusing on the strategic-alliance three-level supply chain, the model of supply chain logistics planning was established in terms of the market prices and the market requirements as random variables of manufactured goods with random expected value programming theory, and the hybrid intelligence algorithm solution model was designed. Aiming at the decentralized control supply chain, in which the nodes were unlimited expansion, the chance-constrained stochastic programming model was created in order to obtain optimal decision-making at a certain confidence level. In addition, the hybrid intelligence algorithm model was designed to solve the problem of supply chain logistics planning with the prices of the raw-materials supply market of the upstream enterprises and the prices of market demand for products of the downstream enterprises as random variables in the supply chain unit. Aimed at the three-stage mixed control supply chain, a logistics planning model was designed using fuzzy random programming theory with customer demand as fuzzy random variables and a hybrid intelligence algorithm solution was created. The research has significance both in theory and practice. Its theoretical significance is that the research can complement and perfect existing supply chain planning in terms of quantification. Its practical significance is that the results will guide companies in supply chain logistics planning in the uncertain environment.

This is an open access title available under the terms of a CC BY-NC-ND 4.0 licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. Jean Dreze has a rare and distinctive understanding of the Indian economy and its relationship with the social life of ordinary people. He has travelled widely in rural India and done fieldwork of a kind that few economists have attempted. In Sense and Solidarity Dreze offers unique insight on issues of hunger, inequality, conflict, and the evolution of social policy in India over roughly the past two decades. Historic legislations and initiatives of the period, relating for instance to the right to food and the right to work, are all scrutinised and explained, as are the fierce debates that often accompanied them. "Jholawala" has become a disparaging term for activists in the Indian business media. This book affirms the learning value of collective action combined with sound economic analysis. In his detailed introduction, the author argues for an approach to development economics where research and action are complementary and interconnected.Sense and Solidarity spans the gamut of critical social policies, from education and health to poverty, nutrition, child care, corruption, employment, and social security. There are also less predictable topics such as the caste system, corporate power, nuclear disarmament, the Gujarat model, the Kashmir conflict, and universal basic income. Sense and Solidarity enlarges the boundaries of social development towards a broad concern with the sort of society we want to create.

This interdisciplinary edited collection presents original analysis on Mexico's transition from the Millennium to the Sustainable Development Goals, departing from three main perspectives. In what areas did Mexico gain leverage and actually contribute to the debate around the proposed SDGs? What are the challenges for Mexico with regard to the SDGs? How to handle the issue of congruence/dissonance in Mexico's accomplishment of the MDGs in relation to the socioeconomic realities on the ground? The contributing authors examine what kind of state is needed to strengthen democratic politics and social justice, but also to improve the economic effectiveness of the state and thereby prospects for development. For Mexico, what is missing is a clear vision for creating a progressive, truly modern society where the notion of a social contract between the government and citizens could be established along the lines of a welfare state that is inclusive, sustainable, and transformative enough to tackle seriously the fundamental socioeconomic injustices dividing Mexicans.

In 1700, Latin America and British North America were roughly equal in economic terms. Yet over the next three centuries, the United States gradually pulled away, and today the gap is huge. Why did this happen? Was it culture? Geography? Economic policies? Natural resources? Differences in political development? The question has occupied policymakers and scholars for decades, and the debate remains intense.
In Falling Behind, Francis Fukuyama, acclaimed author of The End of History and America at the Crossroads, gathers together some of the world's leading scholars on the subject to explain the nature of the gap and how it came to be. Tracing the histories of development over the past four hundred years and focusing in particular on the policies of the last fifty years, the contributors conclude that while many factors are important, economic policies and weak institutions are at the root of the divide. Interestingly, while the gap is deeply rooted in history, they show that there have been times when it narrowed as a consequence of policy choices in nations such as Chile, Mexico, and Brazil, and that there has been genuine institutional reform across the region. Bringing to light these policy success stories, Fukuyama and the contributors lay out a path for Latin American nations so that they can improve their prospects for economic growth and stable political development.
Given that so many attribute the gap to either vast cultural differences or the consequences of U.S. economic domination, Falling Behind is sure to stir debate. And, given the importance of the subject in light of economic globalization and the immigration debate, its expansive, in-depth portrait of thehemisphere's development will be a welcome addition to the conversation.