Africans Investing in Africa explores intra-African trade and investment by showing how, where and why Africans invest across Africa; to identify the economic, political and social experiences that hinder or stimulate investment; and to highlight examples of pan-African investors.

In the wake of the financial crisis and the Great Recession, economics seems anything but a science. In this sharp, masterfully argued book, Dani Rodrik, a leading critic from within, takes a close look at economics to examine when it falls short and when it works, to give a surprisingly upbeat account of the discipline. Drawing on the history of the field and his deep experience as a practitioner, Rodrik argues that economics can be a powerful tool that improves the world-but only when economists abandon universal theories and focus on getting the context right. Economics Rules argues that the discipline's much-derided mathematical models are its true strength. Models are the tools that make economics a science. Too often, however, economists mistake a model for the model that applies everywhere and at all times. In six chapters that trace his discipline from Adam Smith to present-day work on globalization, Rodrik shows how diverse situations call for different models. Each model tells a partial story about how the world works. These stories offer wide-ranging, and sometimes contradictory, lessons-just as children's fables offer diverse morals. Whether the question concerns the rise of global inequality, the consequences of free trade, or the value of deficit spending, Rodrik explains how using the right models can deliver valuable new insights about social reality and public policy. Beyond the science, economics requires the craft to apply suitable models to the context. The 2008 collapse of Lehman Brothers challenged many economists' deepest assumptions about free markets. Rodrik reveals that economists' model toolkit is much richer than these free-market models. With pragmatic model selection, economists can develop successful antipoverty programs in Mexico, growth strategies in Africa, and intelligent remedies for domestic inequality. At once a forceful critique and defense of the discipline, Economics Rules charts a path toward a more humble but more effective science.

Upton examines the U.S. policy process toward the five multilateral development banks-the World Bank Group, the Inter-American Development Bank, the Asian Development Bank, the African Development Bank, and the European Bank for Reconstruction and Development-as a case study in how the United States manages its participation in multilateral institutions. The management of the U.S. role in these institutions is significant primarily because these institutions play an increasingly important role in the U.S. relationship with the developing world and because, for the most part, they are mature institutions being called upon to adapt their roles and operating styles to new financial and political realities. After examining the evolving role of the MDBs from the U.S. perspective, Upon describes the U.S. policy process toward the banks and assesses its strengths and weaknesses. She then sets out recommendations for improving the process and looks at the broader, more general lessons for U.S. policy formulation on multilateral institutions. An important assessment for scholars, researchers, and policy makers involved with international relations and economic policy.

The book provides a study of sustainable development in rural China. Because of its huge population and vast land area, this is an important issue not only for China but for the whole world. The research presented is both multi aspect and systematical. It can be likened to a tree where the trunk is the three main aspects: economy, environment and rural society, and the five main branches are agricultural development, industrial pollution, energy security, labor migration and social welfare, and these are the book's five main topics. The research methods of field survey and Sino-Japanese comparison will be of particular interest to readers. The field survey enables readers to become familiar with the environment of rural China. Survey reports and data provide readers with a more profound and vivid understanding of rural China and comparative methods benefit readers from different countries and a variety of cultural backgrounds. For Japanese readers or readers who understand Japanese well, they make China more easily understandable, while Chinese readers gain insights into the country's future and the direction of current developments based on a Japanese frame of reference. For readers outside China and Japan, this book serves as an introduction to Chinese society and also to Japan. Finally, the author provides various paradigmatic scenarios, including default and sustainable. After reading this book, readers will be aware that the earlier and the more we pay attention to these issues, the easier it will be for rural China to achieve a sustainable situation.

This book introduces the reader to local development economics and policy, with a special focus on the place-based paradigm that covers its justification, its difficulties and the types of public intervention that it suggests. The starting point for the analysis is that economic development in lagging places is not to be expected as the result of a mechanism of automatic convergence between backward and advanced regions and that, therefore, the most appropriate development policy is not to maximize competition among all agents in all sectors and places. The failure of the Washington Consensus is examined, and the two competing positions to have emerged from this failure - spatially blind interventions and place-based policies - are contrasted. The main shortcoming of spatially blind policies, namely that immobile resources that could trigger or support a development process often remain untapped or "trapped", is emphasized. The limitations of the "big push" state intervention and wage flexibility solutions to this trap are analyzed and the merits of place-based policies that support intervention and can deal with uncertainty, risk and conflict are discussed.

This book analyzes the underlying theoretical principles of multi-objective linear programming problems with multi-choice parameters. It studies transportation problems on the same domain with extension to fuzzy stochastic criteria, and offers insights into sensitivity analysis through symmetric duality and complementarity using non-convex programming. These analytical presentations provide ample scope for researchers to contemplate real-world problems with an innovative vision. The formulation, analysis and solution procedures on inventory control models in the book use both deterministic and fuzzy parameters, and provide novel optimal inventory policies. The book discusses a wide range of optimal operational techniques for policy makers, government and private agencies in the fields of e-governance and agricultural crop insurance, which are crucial for developing countries. The recommendations address the gaps and remedies in various schemes that influence decision-making in the context of the economic development of such countries.

Since the 1992 World Scientists Warning to Humanity, the looming prospect of Earth s changing climate has inspired a broad movement dedicated to a sustainable future. In this Handbook, the author explains the elements of a sustainable economy, the development of which must be undertaken if we are to retain our civilization.

The first section offers a critical analysis of orthodox economical thinking, and the tools used by the conventional economy to solve the environmental problem. The author examines the theory and tools of Environmental Economics addressing the commodification of nature, and offers analysis of the theoretical and practical contradictions which arise from attempts to combine environmental protection and free trade.

Part II discusses the principles and tools needed to build a sustainable economy, including the concept of biomimicry as a guiding principle of sustainability, a brief description of the adaptive cycle of ecosystems and explains the concept of transformability and the factors that determine it. Discussion includes a broad evaluation of the capacity for transformation of National Sustainable Development Strategies and an analysis of the essential requirements of ecology-based tax reform. Also included is a critical vision of the dominant paradigm of science and technology.

The third section explores sustainable production and consumption, discussing energy, transport, the circular economy of materials and sustainable consumption. Included are a detailed analysis of factors that determine the limits of fossil fuels, a description of the peak oil structural effect and its sectoral impacts, an overview of a sustainable electric system and a review of biofuels, electricity and hydrogen. The author concludes that only hydrogen associated to fuel offers a sustainable alternative to oil. Discussion includes a view of the structural causes of the current high-level consumption model through the lens of motivation, provision and access systems and a detailed description of policies that must be adopted as part of a sustainable consumption strategy.

The final chapter undertakes the task of analyzing the capability of our societies to transform themselves to reach sustainability. The author broadly evaluates each factor, as a prior step to carrying out an overall evaluation and demonstrates that in order to accomplish a comprehensive analysis, a multidisciplinary group is necessary."

This book is a comparative study of international practices in bankruptcy law, providing perspectives from a variety of specialisms including practitioners, lawyers, bankers, accountants and judges from the United Arab Emirates, the UK and Singapore.

In the quarter century since its emergence from military rule and integration into the global economy, Bangladesh's economy has achieved high growth, reduced aid dependence and made remarkable improvement in social indicators while at the same time it continues to suffer from increasing inequality. This book analyses these successes and failures.

How an economy handles financial and business distress has a major impact on confidence in business, the availability of investment, the cost of credit, and economic growth. The financial crisis of 2007-2008 and its aftermath was a catalyst to legal reform in the field of bankruptcy and restructuring law and brought an added focus to the systemic threat of bank failure to the financial system. This book explores the general principles and practice of legal reform within bankruptcy. From a variety of specialists including practitioners, lawyers, bankers, accountants and judges from the United Arab Emirates, the UK and Singapore, it provides a variety of perspectives on the topic. Chapters include topics such as the 'Four Pillars of Regulatory Framework', the history and application of the UNCITRAL Model Law on Cross-Border Insolvency, the challenges for financial institutions and the treatment of the insolvency of natural persons. The book also offers a comparative study of Islamic Shari'ah principles with modern bankruptcy regimes, an analysis of bankruptcy in the UAE and an evaluation of the legal infrastructure of the DIFC Courts. The authors explore core questions surrounding bankruptcy law, including its ability to facilitate the turnaround of business, to enable efficient reallocation of capital, to provide coherent rules for entrepreneurs, investors, employees, and creditors, and to provide for both appropriate sanctions and for rehabilitation. ?

Until World War II, the Four Corners Region--where New Mexico, Colorado, Utah, and Arizona meet--was a collection of isolated rural towns. In the postwar baby boom era, however, small communities like Farmington, New Mexico, became bustling municipalities with rapidly expanding economies. In "Quest for the Golden Circle," Arthur Gomez traces the development of the Four Corners' two industries, mining and tourism, to discover how each contributed to the economic and urban transformation of this region during the 1950s and 1960s.

Focusing on four cities--Durango, Colorado; Moab, Utah; Flagstaff, Arizona; and Farmington, New Mexico--Gomez chronicles how these towns played key roles in the West's dramatic postwar expansion. Cities such as Denver, Albuquerque, Phoenix, Tucson, El Paso, and Salt Lake City all grew through use of the abundant petroleum, uranium, natural gas, timber, and other natural resources extracted from the Four Corners region.

But the energy boom in these towns was not to last. With the arrival of foreign oil bringing economic growth to a halt in the early 1970s, town leaders turned again to the land to stimulate their economy. This time, the resource was a seemingly inexhaustible one-tourism. Gmez examines how business-minded citizens marketed the area's scenic wonders and established the entire region as a tourist destination. Their efforts were further assisted by the selection of stunning federal lands--Mesa Verde, Grand Canyon, and Arches National Parks--as treasures protected and promoted by the National Park Service.

Both mining and tourism, however, were beset by complex new problems and issues. Extensive highways, for instance, were planned to bisect a Navajo reservation. As Gmez illustrates, the growing cities in the Four Corners region felt tremendous competing pressures between outside business powers and local needs as their extractive economy boomed and busted and as they then struggled to attract tourism dollars. In addition, he highlights the prominent roles played by federal agencies like the Atomic Energy Commission and the National Park Service in shaping regional destiny.

An outstanding analysis of the complexities of postwar development, "Quest for the Golden Circle" successfully illuminates the history of one region within the larger story of the modern American West.

This book examines the successful private, public and civil society models of agriculture value chains in India and addresses relevant challenges and opportunities to improve their efficiency and inclusiveness. It promotes the value-chain approach as a tool to improve access to finance for small holder farmers and discusses the possible structure of and regulatory framework for the 'National Common Agricultural Market'- a term that featured in the Indian Finance Minister's 2014-15 budget speech, and which is aimed towards standardizing and improving transparency in agricultural trade practices across states under a single licensing system. The book deliberates on the potential of developing innovative financial instruments into the value chain framework by supporting tripartite agreements between producers, lead firms and financial institutions. Its fourteen chapters are divided into three parts-Agriculture Value Chain Financing: Theoretical Framework, Agriculture Value Chain Financing in Cases of Select Commodities; and Institutional Framework for Agriculture Value Chain Financing. Since the concept of value chain financing is being considered as a future policy agenda, the book is of great interest to corporations dealing with agricultural inputs and outputs; commercial, regional, rural and cooperative banks; policy makers; academicians and NGOs.

Over the past hundred years, tourism has evolved into the world's biggest business, and few countries today question the common wisdom that the road to economic development is paved with tourist dollars. Yet questions should be raised, Patricia Goldstone argues in this path-breaking book on the social and political impacts of tourism. She examines for the first time the close connections between business and politics as government and industry leaders work together to reengineer political trouble spots into tourist destinations in places like Ireland, Turkey, and Cuba. She also probes the impact of tourism on diverse cultures.

In a keenly perceptive account of the history of tourism in the twentieth century, the book tells how and why tourism aligned itself with political power, how it became embedded within such nontourist institutions as the World Bank, and how since World War II it has become an instrument of international development policy. In detailed case studies that are also compelling travel narratives, Goldstone documents the effects of tourism on local people, including its tendency to lead governments toward greater social repression. She offers fascinating insights into the ironies of modern tourism -- how, for example, it can insulate tourists from the very things they seek to encounter, and how, despite its preservational efforts, tourism can affect a culture in complex, sometimes troubling, ways.

While deforestation continues at an alarming rate around the world, discussions on the range of underlying causes continue. The premise is that studying successful transitions from deforestation to sustainable forestry ex post in Finland can provide novel insights into how deforestation in the tropics might be reduced in the future. Our fundamental question here is why Finland succeeded to stop deforestation for a century ago and why not the same is feasible in the contemporary tropical countries? This book presents a novel integrated theory within which this case study on Finland and contemporary modeling of underlying causes of tropical deforestation are developed. Finland remains the world's second largest net exporter of forest products, while maintaining the highest forest cover in Europe. A transition from deforestation to sustainable industrial forestry took place in Finland during the first part of the 20th century. The underlying causes of this transition are compared via our theory with deforestation in 74 contemporary tropical countries. Both appear similar and support our theory. The interaction of public policies and market institutions has appeared to be critical during this transition. The study's findings suggest that private forest ownership with a continuous increase in the real value of forests and alleviation of poverty under non-corruptive conditions has been a necessary, but not a sufficient, condition for this transition. In a parallel way public policies have also proved to be a necessary, but not sufficient, condition in this transition. The conclusion is that socialistic forestry along with corruption is artificially maintaining too low values in the tropical forests. The opportunity cost of sustainable forestry remains too high and deforestation by extensification of agriculture therefore continues. The prevailing socialistic forestry with dominating public forest ownership is by purpose maintaining administratively set low stumpage prices leading to low value of forests, wide corruption and continuous forest degradation and deforestation. An effective remedy - to raise the value of forests - is found to be within forestry.

The industrialization of information resources has been a growing trend across the world in recent years, especially in China, where the information resource industry (IRI) has expanded exponentially for over more than a decade. While analysing the development conditions of China's IRI, this book clearly defines the implications and strategic value of the industry, summarizes basic IRI theories, and clarifies the history of its development and special regional characteristics within the Chinese context. Drawing on the statistics and measurement of various economic indicators of IRI, the authors propose four stages of development: a germination period; an initial development period; a subsequent rapid development period; and lastly, a steady development period. At the same time, the book draws upon various theoretical models such as the "Dynamic Resource Triangle" model, the "Information Resource Industrial Symbiosis" model, the value chain model and the explanation model of information consumption in order to shed light on IRI's elements and the optimization of its management. In addition, the authors present the Information Resource Industry Development Index (IRIDI) to evaluate IRI's development in different provinces and cities across Mainland China and monitor its dynamics from the point of view of industrial value and the external environment. While the book lays a solid theoretical foundation for the growth of China's IRI, it will also give international readers a clear picture of China's emerging industries in the current era. As an emerging strategic industry in China, the information resource industry (IRI) has had and will continue to have a growing impact on economic and social development. Focusing on the special characteristics of IRI policies in China, this book provides an in-depth discussion of the major directions, methods, and paths of development for IRI policies via a comprehensive analysis of the structural, organizational, promotional policies and policy instruments of China's IRI. Concentrating on policy instruments, the book, for the first time, provides a systematic, all-rounded review of China's IRI policies that have been released to date, and proposes a "China Information Resource Industry Policy Library" comprising six types of IRI policy documents: organizational, information, regulatory, incentives, market, and social. The whole contributes to a comprehensive understanding of the application of various IRI policies in China, and also supports the decision making behind and building of industrial policies.

Focusing on the development agenda of selected developed and developing countries, the contributors in this volume show that the varying degrees of success or failure in the programs of different countries are due to the way they deal with human factor development. Each essay clearly shows that a nation cannot achieve development if it continuously fails to develop its own national human factor. The contributors maintain that what different parts of the world, particularly Southeast Asia, call a development miracle is not a miracle at all.

Countries such as Japan and Singapore have experienced significant development in recent decades because their programs have focused intently on building the human factor. Countries such as Mexico, Nigeria, Bolivia, and India, on the other hand, are struggling to develop because their ongoing development programs do not address the human factor. Nations that aspire to achieve sustained human-centered development in the 21st century should focus on human factor development now.

This book aims to promote an understanding of the origins and dynamics of the software industry in a number of key emerging markets - Brazil, China, India and Israel, and to establish what experiences, if any, are potentially replicable in other prevailing markets. In-depth interviews with leading players in the industry are combined with other new data to provide a comparative study of the dynamics of the sector in emerging markets, to emphasise the public policy implications of these developments, and place them in a wider international context. The last 25 years have seen an explosive growth in the software industry, which is still overwhelmingly dominated by firms from North America and Europe. The authors argue that a number of companies from emerging markets have made significant headway and have even consolidated their positions on account of major cost advantages. They go on to explain the factors behind these developments, and conclude that the software industry, through its ability to project good corporate governance, its lack of hierarchy and widespread use of motivating working practices and compensation schemes, has proved a powerful example to other sectors in these emerging market economies. This book will be of immense interest to both academics and practitioners with an interest in development economics or technology.

This book presents an academically rigorous yet practical guide to efforts to understand how knowledge, policy and power interact to promote or prevent change. It offers a power analysis perspective on the knowledge-policy process, illustrated with rich empirical examples from the field of international development, combined with practical guidance on the implications of such an approach. It provides ways to identify and address problems that have hampered previous attempts to improve the space between knowledge and policy; such as difficulties in analysing political context, persistent asymmetric relationships between actors, ignorance of the contributions of different types of knowledge, and misconceptions of the roles played by intermediary organisations. Most importantly, the book gives readers the ability to develop strategies for negotiating the complexity of the knowledge-policy interface more effectively, so as to contribute to policy dialogues, influence policy change, and implement policies and programmes more effectively. The authors focus on the dynamics of the knowledge-policy interface in international development; offering novel theoretical insights and methodological approaches that are applicable to a broader array of policy arenas and their audiences, including academics, practitioners and students.

This book aims to tell the Abu Dhabi story in economic development, from its past dominance in oil to its economic vision for the future. More than being an exemplar of industrial restructuring and diversification from a resource-based to a 21st century knowledge-based economy and society, Abu Dhabi emphasises its cultural legacy and tradition as an environmental advocate for green and sustainable pathways. It has as many challenges as creative responses to show that its success is not by wealth alone. This case study unveils Abu Dhabi in particular and the rest of Arabic and GCC economic development in general. They have all attracted foreign investment and global business, typically as hydrocarbon-rich resource economies. Beyond that, the geoeconomics and geopolitics of the Middle East and North Africa, with or without the Arab Spring in 2011 is in and of itself, a rich region for multidisciplinary studies and research, not just for economics and business. With Qatar, Abu Dhabi boasts of one of the highest per capita income in the world; therein lies a reason to enquire about its success and pivotal role in the GCC and global contexts.

The Middle East and North Africa (MENA) is a large, complex, and diverse region, which faces a wide range of economic issues. The MENA group includes Algeria, Bahrain, Cyprus, Djibouti, Egypt, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Qatar, Saudi Arabia, Syria, Tunisia, Turkey, United Arab Emirates, and Yemen. This book uses analytical tools drawn from the trade, labor, finance, and development literature to critically analyze and compare these countries' economic policies.The approach taken in this book is to focus on the economic policies and institutional arrangements which have evolved in MENA and which may serve to explain the differences in each country's economic performance. The key objective of the book is to unravel the context-specific variety of growth-promoting policies within MENA rather than focus on specific countries.This book stresses that the poor performance of Arab MENA can be chiefly explained by their aversion to a Western paradigm of market economics. In the advanced industrial countries and in Israel, "globalization" is largely viewed in economic terms - the free movement of goods, services, labor and capital across borders. In the Arab MENA, however, "globalization" is viewed in largely ideological terms and has been regarded as a new version of imperialism. Consequently, the Arab MENA region remains one of the most un-globalized regions in the world.The book serves as both a textbook and a summary of the very large literature on MENA. It examines the following economic realities of the region and compares them across the MENA economies:

The easy money that flowed through the banking system prior to 2008 fuelled a boom in buy-outs. Now it is gone, how will the private equity industry reinvent itself? This book features a series of interviews with some of the most respected and innovative firms and gives rare insights to the strategies that will drive this secretive sector over the next economic cycle.

The book analyses the influence of corruption on economic growth and environmental protection, examining corruption from different perspectives. It contributes to several streams of the literature and assembles evidence of the influence of corruption on two important variables in human welfare: income and environmental policies. The material evinces the detrimental effect that corruption has on economic growth and on the stringency of environmental policies. It also shows that standard techniques for fighting corruption are often based either on simplistic definitions or on strong assumptions that do not apply in many countries blighted by corruption. From a methodological standpoint, this work combines a number of approaches including a theoretical discussion of corruption and of its definition (often omitted in economic studies), together with econometrics, case studies and policy discussions.

This comprehensive volume provides uniquely diverse insights into various aspects of decentralization and development from both developed and developing countries, with special reference to Sri Lanka. For a quarter century, Sri Lanka was battered by its prolonged civil war, which ended in 2009, but has now achieved relative peace and stability. Having developed rapidly, Sri Lanka offers a classic example for developing countries. There is, however, a strong need, particularly in the context of postwar conflict, to formulate policies for reconciliation, peace building, and development at all levels-local, provincial, and national. Decentralization itself is not a new subject; however, how to devolve power to local administrative levels within a unitary system and how to link the devolved power to make local administrative systems more conducive to development and provide better services for citizens are challenging tasks in many countries. Taking into account the developmental, governance, and conciliatory needs and the sensitivity of central-local relations, this volume critically examines the local government systems in Sri Lanka. It also proposes a viable, effective and autonomous local-level administrative unit based, which draws on experiences from Japan and other countries, and identifies the role and functions of such a unit. The book presents commissioned papers from a three-year research project undertaken by internationally respected experts with financial support by the Japan Society for the Promotion of Science (JSPS) under a Grant-in-Aid for Scientific Research.