Since the 1960s the resource-poor countries have grown much faster that the resource-rich ones. This reflects basic differences in the speed of industrialization and the nature of the political state that are rooted in the natural resource endowment. Most resource-rich countries experienced a growth collapse in the 1960s and 1970s. This book shows how policies for economic recovery must be adapted to reflect differences in the natural resource base and type of political state.

This book discusses how to measure the level of development of an economy, particularly, the task of ranking economies in terms of their development. In this context, development is defined as an increase in people's level of wellbeing. The book emphasises that wellbeing is a multidimensional concept, and that it is important to ask how equitably the fruits of development are distributed, and as such it focuses on multidimensional, inequality-sensitive development ranking. Rather than using various specific development indices, which would lead to different development rankings for a country, the book proposes a dominance approach, which formulates conditions under which two economies can be ranked unambiguously, making it valid for all reasonable development indices. With the help of illustrative examples using real-world data, it demonstrates that such unambiguous rankings are possible, and that the proposed approach can be used to complement traditional approaches. An invaluable resource for researchers working in the field of development, the book will also appeal to practitioners engaged in measuring development. An excerpt from the book's Foreword:"[This book] is a comprehensive and valuable contribution to the literature on the measurement of inequality and the use of such measurement in the assessment of social welfare. I believe that it will be of much interest to researchers working on measures of inequality and social welfare as well as advanced graduate students who are looking for a solid introduction to this important area of normative economics." - Prof. Prasanta K. Pattanaik, University of California, Riverside, California, U.S.A.

This book provides a brief history of the notion of development and related policies. Readers will find an overview of the main development notions and debates from 1950 to the 2015 Sustainable Development Goals. The author argues that sustainable development is equal to empowerment within a specific historical setting; development is a dialectic relationship between people's empowerment and the existing social and economic structures. The book examines some well-known growth theories from Harrod in 1939 to contemporary debates views about the role of the state and the market. Some major structural changes are also examined from economic growth in Asia to international finance: the author contends that contemporary issues on development can be better understood with the help of the founding fathers of economics, from the Mercantilist era to Marx. They help to understand the difficult relationship between development and market forces within different models of social and economic reproduction. The author contends that the main development challenge is that of building a global partnership in a system with enormous differences in economic powers and offers some examples of how to re-balance the existing economic powers particularly in trade and finance.

The role of foreign direct investment initiatives is pivotal to effective enterprise development. This is particularly vital to emerging economies that are building their presence in international business markets. Outward Foreign Direct Investment (FDI) in Emerging Market Economies is a comprehensive source of academic material on the progressive impact of investment opportunities in the context of developing nations. Highlighting pivotal research perspectives on topics such as trade, sourcing strategies, and corporate social responsibility, this book is ideally designed for academics, practitioners, graduate students, and professionals interested in the economic performance of emerging markets.

This book explores endogenous institutional change and the global, cyclical, and power-based drivers that underpin it. A metatheoretical framework is presented to highlight the influence of path dependence, systemic cycle driven power relations, and institutional design on the development of labor institutions. The framework is applied to the USA, Germany, and China to provide a comparative economic perspective. Systemic Cycle and Institutional Change: Labor Markets in the USA, Germany and China aims to examine endogenous institutional change through analyzing the systemic cycle and bringing together global and national conceptions of capitalism. It is relevant to students and researchers interested in comparative economics, political economy, and labor economics.

Globalization, the return to a multi-party system of government, and the policies advocated by the IMF and the World Bank have led to near revolutionary labor relations in Ghana. As Panford shows, these new social and economic forces have unleashed new and even contradictory labor policies and practices which are having profound social, political, and economic consequences. Panford examines how the Ghana Constitution of 1992 led for the first time to new workers' rights, including the right to affiliate with any local, national, or international union. In response to globalization and policies advocated by the IMF and the World Bank, the Ghana government sought to resist worker demands for improved working and living conditions. The situation was worsened by the privatization of state-owned businesses and severe cuts in public employment. In this environment of tense labor relations, government hostility, and weak employment, Panford traces the ways workers are revitalizing unions and developing new sources of jobs and finances. These include relatively aggressive systematic organization of women, senior staff, and the informal/agricultural sector. One of the most important initiatives of the unions is the creation of a workers' trust to establish and finance worker-owned enterprises. The evidence presented by Panford indicates the failure of IMF and World Bank policies, and he calls for new and viable policy alternatives with emphasis on enhancing Ghana's global competitiveness and meeting genuine development needs. A thoughtful analysis that will be of interest to scholars and researchers involved with development and international economics, labor relations in the developing worldand the increased involvement of international financial institutions.

This book addresses the paradox between preponderance of hunger in a continent that is well endowed with fertile agricultural land, plenty of fresh water and a vibrant labor force. As some statistics show, close to 60% of arable land in the world is located in Africa which also has several rivers flowing in all seasons and plenty of underground water. The bulk of its labor force thrives on agriculture, yet the continent's largest import item is food. 23 of 36 the most malnourished countries also belong in Africa. This has caused significant needless human suffering. This book goes beyond providing the traditional framework of supplying policy recommendations to delivering an applied, innovative framework upon which policymakers, the private sector and international institutions can take clear and deliberate action to stimulate Africa's agricultural sector, thus responding to the 2030 Agenda for Sustainable Development.

This volume discusses post-socialist urban transport functioning and development in Russia, within the context of the country's recent transition towards a market economy. Over the past twenty-five years, urban transport in Russia has undergone serious transformations, prompted by the transitioning economy. Yet, the lack of readily available statistical data has led to a gap in the inclusion of Russia in the body of international transport economics research. By including ten chapters of original, cutting-edge research by Russian transport scholars, this book will close that gap. Discussing topics such as the relationship between urban spatial structure and travel behavior in post-soviet cities, road safety, trends and reforms in urban public transport development, transport planning and modelling, and the role of institutions in post-soviet transportation management, this book provides a comprehensive survey of the current state of transportation in Russia. The book concludes with a forecast for future travel development in Russia and makes recommendations for future policy. This book will be of interest to researchers in transportation economics and policy as well as policy makers and those working in the field of urban and transport planning.

More than half of the world's sovereign states are small economies. The majority are in sub-Saharan Africa and the Caribbean Basin. For small economies, the globalization process involves opportunities, but also important risks because of their vulnerability and lack of diversification. This book discusses the advantages and pitfalls of different strategies for small developing economies to become more integrated into the world economy. It should help with the formulation of a coherent and effective policy response.

The book presents a comprehensive study of the impact of policy reforms on output, employment, and productivity growth across sectors of India since 1991. It showcases varied responses from different sectors as they faced different degrees of policy interventions, and challenges or opportunities as regards markets, technology, and availability of skills and other complementary resources. The book also discusses the contributions of the service sector on India's GDP and employment. The book throws light on the phenomena of rising inequality and persistent poverty which continues to shadow and be a hallmark of post-reform India, despite high economic growth. It underlines the failure of these reforms to bring about major change in social and economic organizations and institutions. The book's contents stress on the criticality of addressing these issues as they have a serious potential of jeopardizing the country's ability to maintain high growth momentum. With these pertinent topics, the book would be of interest not only to the research community, but also to policy makers and practitioners of various sectors addressed here.

The issue of government or state involvement in the process of economic development and reform has become very popular in the economic development literature. This timely volume examines China's post-Mao economic reforms, and the Chinese government's involvement in the process of managing those reforms. Focusing on management issues, the book considers the state led reforms from a comprehensive and interdisciplinary perspective. The work consists of two parts--the experience of China's post-Mao reforms and major issues associated with the reforms. The first part covers the background, stages and measures, and achievements and problems of economic reforms. The second part addresses major changes in China's regional development, administrative system, and state-society relations. A final chapter considers the lessons of China's economic reforms.

The role of the private sector in driving sustainable development is indisputable. Indeed, the impact and influence of the business world is far-reaching, and it is the private sector that stands to lose if it fails to respond to the sustainability challenges facing them and the world at large. Thailand's Sustainable Business Guide looks critically at how Thai businesses of all sizes are taking action: by innovating solutions to complex challenges, by being role models for transformative change, by learning from their experiences, and by assuming a more holistic view of long-term growth. The book offers insights from leading Thai business leaders, as well as Thai and international sustainability professionals, to understand how the sustainability movement is transforming the very nature of doing business in the country. At the same time, it offers valuable guidance to companies that are starting on this sustainability transition, because ultimately long-lasting impact must be achieved through the combined efforts of all.

Nine world-class experts on the African economy share their knowledge regarding the potential for real improvement and growth in food production and the development of grassroots economies that will benefit citizens as well as governments. Economic models that assume good incentives, infrastructure, entrepreneurial skills, and a level trading field cannot be invoked. Structural adjustment in African countries has led to unintended consequences because the common people and the small farmers have not been consulted. Domestic food production, the crux of Africa's economic problem, has been downgraded because of the emphasis on export crops. To develop self-sufficiency and food security, African nations must mobilize domestic resources, improve the human resource capacity, and strengthen their scientific and technological bases. They must also cooperate in integration schemes rather than compete for the available Western aid.

Midway through the eighteenth century, the rate of growth for the world's population was roughly at zero. Immediately after World War II, it was just above 2 percent. Ever since, it has fallen steadily. This new book, the latest offering from a distinguished expert on international economics, tells readers what this stagnation or fall in population will mean--economically, politically, and historically--for the nations of the world.
W. W. Rostow not only traces the whole global arc of this "great population spike"--he looks far beyond it. What he sees will interest anyone curious about what is in store for the world's financial and governmental systems. The Great Population Spike and After: Reflections on the 21st Century contends that, as the decline in population now occurring in the industrialized world spreads to all of the presently developing countries, the global rate of population will fall to the "zero" level circa 2100. (Indeed, with the exception of Africa south of the Sahara, it could reach "zero" long before then.) This being so, how will it be possible to maintain full employment and social services with a decelerating population? What will societies do when the proportion of the working force (as now defined) diminishes radically in relation to the population of poor or elderly dependents? How will the countries of the world confront subsequent decreases in population-related investment?
In answering these queries, this bold study asserts that the United States is not the "last remaining superpower" but the "critical margin" without whose support no constructive action on the world scene can succeed. Rostow takes the view that world peace will depend on ourgovernment's ability to assume responsibly this "critical margin" role. Further, he argues that, over a period of time, the execution of this strategy on the international scene will require a bipartisan, relentless effort to solve the combustible social problems that weaken not only our cities but our whole society.

This book examines the ways in which universities can play a crucial role in inclusive development, social innovation and social entrepreneurship. It aims to prove the importance of inclusive development and inclusive innovation on economic growth and demonstrate the ways in which universities can be pioneers in this area through initiatives in social responsibility and social innovation. For example, providing access to a university education without discrimination of race, gender, income status, or other factors would help to diminish the increasing income differentials currently being experienced in many countries, especially in the developing world. The research and studies included in this book provide insight into possible actions that can be taken by universities and public and private shareholders in inclusive development, social innovation, social entrepreneurship and overall regional economic and social development. Innovation is currently considered to be the most important and dynamic factor explaining growth and development. At the same time, the traditional view considering innovation as having to be commercialized at any price is being challenged. Lately, there has been growing interest in innovation in the public sector, particularly with respect to social innovations designed to reduce income inequality. To address these concepts, constant exchange of ideas and information between research groups became necessary. UniDev (Universities in Development - the Evolving Role of Academic Institutions in Innovation Systems and Development) is an international research group with researchers in twelve countries interested in the role of universities in development. This book features the results of research performed by eleven research groups from UniDev country communities, presenting in-depth and comparative case studies from universities around the world, including Latin America, Northern and Eastern Europe, and sub-Saharan Africa. This title will be of interest to students, academics, researchers, and policy makers interested in the role of universities in development, social innovation and social entrepreneurship.

This edited volume discusses the role of innovation and regional integration in economic development in Africa. Over the past five decades, post-colonial African countries have struggled to break loose from the trap of poverty and underdevelopment through the adoption of various development strategies at regional, national, and continental levels. However, the results of both national and regional efforts at advancing development on the continent have been mixed. Although the importance of agglomeration and fusion of institutions have long been recognized as possible path to achieving economic development in Africa, the approach to regionalism has been unduly focused on market integration, while neglecting other dimensions such as social policy, mobility of labor, educational policy, biotechnology, regional legislation, manufacturing, innovation, and science and technology. This volume investigates the link between innovation, regional integration, and development in Africa, arguing that the immediate and long term development of Africa lies not just in the structural transformation of its economies but in the advancement of scientific and innovation capacities. The book is divided into four parts. Part I addresses the theoretical and conceptual underpinnings of innovation and regional integration in Africa. Part II presents case studies which examine how regional economic institutions are fostering innovation in Africa. Part III of the book deals with sectoral issues on innovation and integrated development in Africa. Part IV sets the future research on innovation, regional integration, and development in Africa. Combining theoretical analysis and a comparative, interdisciplinary approach, this volume is appropriate for researchers and students interested in economic development, political economy, African studies, international relations, agricultural science, and geography, as well as policymakers in regional economic communities and the African Union.

Banking entities have significant involvement and impact on the structure of a nation's economy. By utilizing the proper strategies and available data, banks can act as an effective financial instrument for economic enhancement. Examining the Role of National Promotional Banks in the European Economy: Global Insights and Implications is a pivotal reference source for the latest perspectives on the performance and evaluation of National Promotional Banks (NPBs) within European economic contexts and their impact on social welfare. Featuring relevant coverage across innovative topics, such as funding, productivity, and financial structure indicators, this publication is ideally designed for professionals, academics, graduate students, and practitioners seeking investigations on the European NPB business model.

Challenging conventional wisdom, Shienbaum argues that the U.S. federal government, not the private sector, created the dynamic New Economy. Declining economic competitiveness and relative global underperformance during the 1970s and early 1980s threatened America's post-war global leadership position, a role Washington was loath to relinquish, especially during the Cold War. Citing these threats to American leadership and security, government officials set out to make the U.S. economy more competitive by creating innovative technology policies combined with policies providing strong incentives to new entrants while removing regulatory protections from more established companies. The federal government, in other words, nurtured fragile high-tech start-ups while forcing larger companies to compete in the marketplace, in the process transforming regulatory capitalism into an entrepreneurial capitalism marked by innovation, entrepreneurship, and competition.

ShienbauM's book will be of interest to political scientists, policy makers, economists, and lay readers wanting to discover the causal factors that created the conditions for the unprecedented economic boom of the 1990s. Furthermore, by explicitly connecting government policy-making to economic change, Shienbaum reminds us of the basic but often-ignored truth that politics and economics are inescapably linked together. She concludes with a clear-eyed discussion of the limits of entrepreneurial capitalism and the forces lining up to oppose the New Economy.

This is the first theoretical book on Chinese Cultural Soft Power. It focuses on the inner logical relations between Chinese cultural soft power and the realization of the China Dream, while also offering detailed explanations of the scope of and essential questions concerning Chinese cultural soft power. The book is divided into six parts, which, taken together, concisely yet thoroughly examine the theoretical roots of soft power and the current status of China's soft power as illustrated in concrete cases. On this basis, the author subsequently draws a cautious overall conclusion on the development of China's soft power.

This book presents the building blocks of Islamic economics as meso-science, offering an in-depth study of the Qur'anic worldview of the monotheistic unity of knowledge, which is the universal and unique message of Tawhid in the Qur'an. This primal ontological premise is formalised in an analytical approach that introduces and unpacks the philosophical concepts of ontology, epistemology, and phenomenology in relation to the Tawhidi methodological worldview. The analysis of Qur'anic logical consistency is then cast in a phenomenological perspective by applying the complete model of the unity of knowledge of the Qur'an in a specific study of the Tawhidi methodological approach to Islamic financial-economic theory. In doing so, it tackles the problems of meso-economics given its socio-scientific holism in world affairs. It hones in on the results of the symbiotic modulation of evolutionary learning processes in the world system of the unity of knowledge and its material embedding across knowledge, and knowledge-induced space and time dimensions. The author poses that Shari'ah is only partial in its scope, and excludes an analytical methodological worldview. Shari'ah is thus cast in the midst of a meso-socio-scientific absence of any appertaining methodology. The book is a landmark work in the conceptual and applied understanding of Tawhid as the methodological worldview of the monotheistic unity of knowledge in the meso-socio-scientific realm of 'everything', particularised to Islamic economics. Adopting an inter-disciplinary view integrating various fields, it challenges pervasive Western academic and institutional thinking in terms of economics. It will be of interest to students and researchers in Islamic economics, religious theory, Islamic philosophy, development studies, and finance.

Miller and Henthorne give U.S. investors and entrepreneurs the insights they need to capitalize upon the rapidly expanding, but still open, Cuban tourism industry--the island's major industry. This authoritative examination of the market for Cuban tourism provides comprehensive information on Cuban contacts and data sources that are accessible to foreigners; insights into the competition and possible competitive strategies, plus the general background on Cuba and its economy that investors must have for an understanding of Cuba's potential. With its lists of references and contacts, Miller and Henthorne's study will be invaluable to international tourism executives, particularly specialists in strategic planning and the development of strategic business alliances as well as international marketers and business development officers.

Miller and Henthorne have written their book for the day when relations and travel ties are reestablished between Cuba and the United States--a day that in their opinion will soon come. From their personal visits and interviews with Cuban officials in banking, finance, investment, politics, and the tourist industry itself, Miller and Henthorne have compiled material that is unavailable from any other single source. Here is detailed, first hand, timely information on Cuba's tourism resources, opportunities, infrastructure, competitors and competition, peculiarities, and historical and regional background for the benefit of investors in the United States and worldwide.

Distinguished experts on African development offer their considerable knowledge and background to the coming crisis in Africa. They examine not only development but also related factors such as foreign trade, politics, indigenous traditions, and international relations in order to understand development problems on the continent. It is one of the first volumes since the end of the Cold War to analyze African development, or the lack thereof, that had polarized the developing countries for the past 30 years. Yansane and his contributors present the strengths and weaknesses of various development strategies including ideas for the future, such as the inclusion of the human dimension that was overlooked in past strategies for growth. This inclusion would increase participation and the accountability of the political system and parties.

This book examines female-headed households (FHHs) in the world economy, aspects of their poverty, and the implications of those for sustainable development. Following a general discussion of FHHs in the world community, the work discusses FHHs in two regions of India, one being an example of unsuccesssful development and the other of successful development. The research is based on fieldwork in five rural villages. One village, comprising mostly female-headed households, provided a unique case study. The other four villages include both male- and female-headed households with a high proportion of female-headed households.

The authors found that female-headed households dominate the poorer sections of the community, and women's access to resources is limited by cultural, social, and economic influences. Women, particularly those in FHHs, bear the heaviest burdens in times of economic hardship. These women face more forms of discrimination outside the home than women from male-headed households. They have fewer customary rights but greater freedom of movement and more opportunities for paid employment. The authors go on to show that the benefits of government development programs have not reached remote areas. The trickle-down approach has not worked, but sustainable development programs focusing on women's development and self-responsiblity have helped to lift the economic status of women in general and FHHs in particular.