The whirlwind of financial globalization has descended upon emerging market economies and rapid change has brought both benefits and problems upon a dynamic group of nations.
This book examines the impact of ever increasing financial globalization on emerging market economies, both in the former communist countries of Eastern Europe and the developing world in general. This impressive volume covers themes and issues such as:
*global capital flows and financial liberalization
*global financial architecture
*financial and macroeconomic instability
Financial Globalization and the Emerging Market Economies will be of interest to students and academics in many areas including international economics, international finance and international political economy. It will also provide a useful source of information for those who work in the financial industry at large.

The Handbook of the International Political Economy of Production offers a comprehensive, state-of-the-art overview of the changing world of global production. The book explores the topic in a range of directions, including the human material 'used' in production across the globe and alternatives proposed from different quarters.Chapters cover the geography of why and where jobs are moving in both manufacturing and services. The doubling of the world's available labor supply after the opening up of the planned economies in Europe and Asia has sharply tilted the balance of power towards giant corporations. Labor and the politics of work is analyzed in a number of key countries. Possible signs of a recovery of organized labor's negotiating power on this vastly expanded playing field are discussed in separate chapters, and a complete overview is provided of labour research networks currently active. This important volume addresses topics relating to the human and natural basis on which production rests, from the consequences of the exploitation of the body and mind to sex work, biotechnology, and the prospects for ecological re-balancing. Written by a team of authors from fourteen different countries and comprising some of the biggest names in contemporary social science as well as topical specialists, this Handbook will prove a critical resource to political economists at all levels, trade unionists and NGO activists in the labor and human rights sphere, politicians and journalists. Contributors: J. Baines, A. Bhattacharjee, M. Boyer, D. Bradanini, U. Brand, J. Chan, C.B.N. Chin, M. Davies, R. Delgado Wise, R. Desai, A. Fishwick, A. Freeman, S. Gindin, K. Gray, J.-C. Graz, Y. Gromyko, J. Harrod, O. Holman, R. Ihara, Y. Jang, S. Kay, D.T. Martin, S. McGrath, J. Merk, P. Moore, L. Panitch, M. Paterson, N. Pun, A. Roy, S. Sassen, M. Selden, B. Selwyn, G.M. enalp, OE. enalp, W. Seppmann, B.J. Silver, K. Strauss, M. Wissen, J. Wullweber

Economic Lessons from the Transition focuses on major transitions in the 1990s: the transition from central planning and communism to market capitalism and the global integration of national financial systems. The transitions were supposed to raise most peoples' standard of living; instead they dramatically worsened the lives of most people in the countries involved. While most attempts to explain this failure focus on policies, the authors of this book argue that failure of economic theory to fully understand these transitions has led to bad policies that made the transitions unnecessarily painful and costly. The book suggests answers to the following questions: How should basic economic theory as taught in introductory economics courses be revised in light of the failure of market-oriented economics to effect a successful transition in so many former communist economies? Could the theory be revised and presented in a different manner? How can basic economic theory be used to help explain the past failures in understanding transition problems and to avoid future mistakes? This volume is a "must read" for all who teach economics or apply economics to the real world.

Contents:
Part One: Theoretical Considerations
1. Stock Market Regulation and Institutional Change in Reform China
2. Investors, Bureaucrats and the Institutions of the Chinese State
Part Two: Local Institutional Capture
3. Nascent Equity Markets and Local Institution Building, 1984-90
4. Institutional Capture by Local Leaders: Share Issuance and Other Problems, 1993-2000
5. Equity Developmentalism Unbound: The Capture of Secondary Market Institutions in Shenzhen and Shanghai, 1995-97
6. The Shanghai and Shenzhen Stock Exchanges: From Local Control to 'Sons of the CSRC'
7. Local Institution-Making and the Securities Trading Centres
8. Institutional Creation and Development: The China Securities Regulatory Commission
9. Incoherence at the Centre: The State Council Securities Commission and CSRC/PBoC Relations
10. Drafting the Securities Law: The Role of the National People's Congress in Creating Institutions
Part Three: Conclusions
11. Socialist Market Regulation
12. China's Stock Market and the Changing Policy Priorities of the State Council
13. Equity Politics and Market Institutions

Contents:
List of Tables List of Figures Preface 1. Hybrid capitalism: demystifying Chinese capitalism 2. The dynamics of Chinese capitalism: globalization and actor-networks 3. The internationalization of Chinese capitalism 4. Transnational entrepreneurship 5. Transformations in social organization 6. Changing corporate governance and strategic management 7. The future of Chinese capitalism Notes Appendix References Index

David Westbrook argues that we live in 'the city of gold' - a global, cosmopolitan polity where politics are done through markets, and where global capital markets, not states, have become the dominant force in our social life. In this wide-ranging, multi-tiered exploration of our contemporary global political economy, he touches on four major themes: the historical foundation of the city of gold; an assessment of its political scope; its current discontents; and ways to make a better - albeit imperfect - world from within it.

David Westbrook argues that we live in 'the city of gold' - a global, cosmopolitan polity where politics are done through markets, and where global capital markets, not states, have become the dominant force in our social life. In this wide-ranging, multi-tiered exploration of our contemporary global political economy, he touches on four major themes: the historical foundation of the city of gold; an assessment of its political scope; its current discontents; and ways to make a better - albeit imperfect - world from within it.

The growing industrialization of Thailand due to the introduction of capitalist processes has had a revolutionary impact on the organization and structure of the society. New classes, groups and interests have arisen including a new urban-based industrial working class who are essential to the new capitalist procedures. This book examines how industrial workers have come to occupy a strategic place in the contemporary political economy and charts their long-term activism in seeking redress for a range of individual, social and political problems. This text focuses on how the state has become entangled in the processes through which workers have been organized, reorganized and disorganized as social and political actors in different historical periods. By examining the themes of labour weakness, political exclusion and insignificance of "class factors", this book brings back workers from the margins by demonstrating that both in the present and past the state has been involved in processes that determine the forms of their struggles. By utilizing new empirical data and historical material, Brown highlights how the working class have emerged as an enduring facet of Thai society.

From its formation in 1948 to its merger with Keidanren in 2002, this work provides a comprehensive history of Nikkeiren. Using the different periods of postwar Japanese capitalism as a context, the author carefully traces the history of Nikkeiren. Up until 1960 the association led Japanese employers in the campaign to win back "the right to manage", which had been lost in the chaotic aftermath of Japan's defeat in World War II. Nikkeiren achieved this by forging solidarity between employers in order to win a succession of bitterly fought labour disputes where the objective was not merely to defeat but to annihilate militant unions. Subsequently, Nikkeiren switched its emphasis to manipulation of the workforce and to a mutually advantageous trade-off with the leaders of increasingly enterprise-orientated unions. The group also put a great amount of effort into generating a mystifying ideology. Largely based on Japanese sources, this is the first comprehensive study of Nikkeiren to appear in English. In addition to providing a detailed empirical account of Nikkeiren's organization and activity, this book throws light on the nature and function of class power, the inherent tendency o

This book is a methodologically self-conscious and intellectually ambitious effort to advance the social science debate on postcommunist transformation beyond the limitations of its first decade. Offering theoretically innovative and empirically current analyses of fundamental economic, cultural, and political problems of systemic change and reform in central and Eastern Europe, the authors broaden and deepen the research agenda by developing a set of interrelated approaches that are cross-disciplinary, sociologically informed, historically comparative, and global. The bookOs major substantive themes revolve around problems of postcommunist socioeconomic transformations. Specifically, the book explores postcommunist systemic change, the role of religion and collective identity, the significance of trust and economic culture, patterns of state-economy interactions in enterprise restructuring, the context of EU expansion, the strengths and weaknesses of economic theory and neoliberal doctrine, and the history of ideas in the postcommunist transformation debate. Bringing together leading experts in the field to illustrate the fruitfulness of multidisciplinary analysis in understanding socioeconomic transitions, this work will be valuable for economists, sociologists, and political scientists alike.

Can capitalism and citizenship co-exist? In recent years advocates of the third way have championed the idea of public-spirited capitalism as the antidote to the many problems confronting the modern world. This book develops a multi-disciplinary theory of citizenship, exploring the human abilities needed for its practice. It then argues that capitalism impedes the nurturing of these abilities. In advancing these arguments, Kathryn Dean draws on the work of a wide range of thinkers including Freud, Marx, Lacan, Habermas and Castells.

Contents:
Part 1: Theoretical Foundations 1. Human Nature: Indeterminate and Indeterminable 2. Capitalism: Culture of Worldlessness Part 2: The Wordly World of the Bourgeois Subject 3. The Wordly World of Bourgeois Subject 4. Parenting and the Consitution of Bougeois Part 3: From Place to Space: the Death of Worldliness 5. The Institution of Commodity Fetishism 6. Abstract labour and the Network Society 7. Abstract Consumption and the Dissolution of the Ego 8. Abstract Knowledge: Disorganized Capitalism and the Vicissitudes of Science Conclusion: Citizenship and the Recovery of Worldliness

During the last two decades, China has longed for an important role on the international economic scene and has therefore tried to promote an image of modernisation. Having increased its efforts towards international integration, domestic reform continues to present China with one of its greatest challenges. This volume thoroughly analyses several important aspects of today's China: economic changes, the search for a social compact in urban China, the identification of new social conflicts that coexist in the dialectics of control and cohesion, and the problem of nation building and collective identities.

This book provides a cogent analysis of the globalization process and the role of the imperial state in twentieth-century capitalist expansion on a world scale. It examines the development of capitalism and the capitalist state across national boundaries and traces the evolution of imperialism and interimperialist rivalries that have come to define the nature of the world political economy. As transnational capital has become a mighty force controlling the economies of advanced and less-developed capitalist countries around the world, capitalism and capitalist relations of production have spread to and dominated societies and social relations in remote parts of the globe. The resulting globalization of capital has given transnationals free reign to impose capitalist practices on a global scale, such that only the biggest and most powerful capitalist monopolies have become the real beneficiaries. Berberoglu argues that while the globalization of capital enriches only a small segment of society- the owners of the transnational corporations - it devastates the great majority of the world's population. The process has immense consequences for working people throughout the world. As workers become aware of this reality and begin to address the issues that affect them, they begin to organize and become involved in class struggle to effect change.

Mention North Korea to people today and they will conjure up many unflattering images, particularly in the wake of George W. Bush denouncing the state as part of an "axis of evil". Despite this cold war type rhetoric, the state of North Korea has begun to recognise the difficult challenges that it faces and is now trying to get to grips with them systematically.
This book brings together a selection of many of the world experts on the North Korean economy and covers such important issues as:
*possible unification with South Korea
*the significance of China's economic success
*Europe and the United States' roles in North Korea
North Korea in the World Economy provides an accessible, well-written and comprehensive account of this unique country and its economy. It will be extremely interesting not only for students and academics with an interest in Korean studies, international finance and transition economies but also for anyone with an interest in international economics.

eBook available with sample pages: 020314547X

'Hodgson's masterful review of orthodoxies and heterodoxies focuses on the absurdity of recommending planning, or scorning it, without answering the empirical question asked in the 1930s by the ''socialist calculation debate.'' How well does planning or the market work? Idealism assumes the answer without actually doing the science. - Deirdre N. McCloskey, University of Illinois at Chicago, US 'Every young heterodox scholar should read this book, as should veteran heterodox economists who are puzzled about why important heterodox contributions have not had the impact they deserved to have. The book provides a compelling account of the challenges that heterodox economists have faced, and continue to face, and it leaves the reader with a strong sense that things could have been, and could be, much better if more heterodox economists strove to integrate compatible aspects of the many diverse approaches that constitute heterodox economics.' - Peter E. Earl, University of Queensland, Australia 'Is there a future for the alternatives to mainstream economics? Dealing with this important question does not only require a deep understanding of the current economic theories and of the history of economic thought. It demands also a careful analysis of the institutional mechanisms by which scientific communities commit themselves to certain paradigms and change these commitments. In this excellent book Hodgson deals with all the dimensions of this complex issue.' - Ugo Pagano, University of Siena, Italy 'Drawing a well-balanced picture of heterodox economics with its many political shades and theoretical nuances is no easy task. Professor Hodgson's mastery in solving the task sets new standards. His compelling analysis of the state and the future of the field is a ''must read'' for everyone in the heterodox camp and an invaluable source of information for all scholars in the history, philosophy, and sociology of economics.' - Ulrich Witt, Max Planck Institute for the Science of Human History, Germany and Griffith University, Australia Over the last 50 years, and particularly since the financial crash in 2008, the community of heterodox economists has expanded, and its publications have proliferated. But its power in departments of economics has waned. Addressing this paradox, Geoffrey M. Hodgson argues that heterodox economists are defined more by a left ideology than by a shared understanding of the nature of orthodox economics and of what should replace it. Heterodox economists cannot agree on what heterodoxy means. Employing insights from the sociology and philosophy of science, the author explores the marginalization of heterodox economics in the academic community and its exclusion from positions of power. This perceptive book also shows how the weaknesses of a particular version of heterodoxy stemming from the Cambridge economics of the 1970s have been replicated globally in much of contemporary heterodox economics. The author considers how the field can adapt in order to improve and sustain its presence in academia. Social scientists and economists will find this book both enlightening and useful. In particular, it will be invaluable to student networks and others critical of mainstream economics, and to those teaching economics at undergraduate and postgraduate level.

In 1991, a small group of Russians emerged from the collapse of the Soviet Union and enjoyed one of the greatest transfers of wealth ever seen, claiming ownership of some of the most valuable petroleum, natural gas and metal deposits in the world. By 1997, five of those individuals were on Forbes Magazine's list of the world's richest billionaires. These self-styled oligarchs were accused of using guile, intimidation and occasionally violence to reap these rewards.

Marshall I. Goldman argues against the line that the course adopted by President Yeltsin was the only one open to Russia, since an examination of the reform process in Poland shows that a more gradual and imaginative approach worked there with less corruption and a wider share of benefits.
The Piratization of Russia is an accessible, lucid and timely book that is required reading for those with an interest in the debâcle of Russian reform. Its appeal will range from the interested lay-reader to students, academics, economists and politicians who want to understand the problems facing Russia and how they could have been avoided.

In 1991, a small group of Russians emerged from the collapse of the Soviet Union and enjoyed one of the greatest transfers of wealth ever seen, claiming ownership of some of the most valuable petroleum, natural gas and metal deposits in the world. By 1997, five of those individuals were on Forbes Magazine's list of the world's richest billionaires. These self-styled oligarchs were accused of using guile, intimidation and occasionally violence to reap these rewards.

Marshall I. Goldman argues against the line that the course adopted by President Yeltsin was the only one open to Russia, since an examination of the reform process in Poland shows that a more gradual and imaginative approach worked there with less corruption and a wider share of benefits.
The Piratization of Russia is an accessible, lucid and timely book that is required reading for those with an interest in the debâcle of Russian reform. Its appeal will range from the interested lay-reader to students, academics, economists and politicians who want to understand the problems facing Russia and how they could have been avoided.

In contrast to the failure to economic reforms in Eastern Europe, China's economic reforms have been quite successful. Decollectivization, marketization, state enterprise reforms, and reintegration into the world economy have led to very rapid economic development in China over the past two decades. These economic reforms, in turn, triggered profound social and political changes. This collection examines the origins, nature, and impact, as well as the future prospects of these reforms and changes. The contributors are all active researchers from a variety of disciplines, including economics, sociology, political science, and geography.

This highly original new book examines the scientific status of economics from the perspective of practising economists. It studies how they evaluate their theories, the relationship between those theories and the phenomena they are intended to represent, and the philosophy, methodology and scientific credentials of economics. It examines the tension between economics as the logic of rational choice and as a predictive science, that is reason and reality respectively. It surveys the five most influential schools of thought in the methodology of economics, with special emphasis on theory appraisal: logical positivism, instrumentalism, a priorism, scientific realism and rhetorical analysis. Professor Fox assesses the extent to which economists have followed the precepts and consequences of their methodological position. He extends the discussion to consider the purpose of such economic inquiry, the scope of application and the appropriate structure of economic theory, as the legitimate sources of economic knowledge. In conclusion he argues that a resolution of existing and emerging methodological controversies in economics must begin with a better understanding of the various voices within the discipline. Intended as an introduction to the major schools of thought in economics, this book will be of interest to students and scholars of economics, philosophy and economic methodology.

Exploring one of the most dynamic and contested regions of the world, this series includes works on political, economic, cultural, and social changes in modern and contemporary Asia and the Pacific.

In contrast to the failure of economic reforms in Eastern Europe, China's economic reforms have been quite successful. These economic reforms, in turn, triggered such profound social and political changes as massive temporary migrations to the cities; a consumer revolution by the newly emerged middle class; the revival of religious movements; the rise of Chinese feminism; and impetus toward democratization along the Western line. This collection examines the origins, nature and impact, as well as the future prospects of these reforms and changes. The contributors are all active researchers from a variety of disciplines, including economics, sociology, political science, and geography.

In the 1990s the former states of the Soviet Union underwent dramatic and revolutionary changes. As a result of enforced, neo-liberal reforms the fledgling republics were exposed to the familiar effects of globalised capital. Focusing on Kazakhstan, where violence and corruption are now facts of everyday life, Joma Nazpary examines the impact of the new capitalism on the people of Central Asia. Using in-depth interviews and material gathered over more than a year's fieldwork, Nazpary explores the responses of the dispossessed to their dispossession. He uncovers the construction of 'imagined communities', grounded in Soviet nostalgia, which serve to resist the economic order, as well as the more practical survival strategies, especially of women, often forced into prostitution where they are subject to violence and stigma. By revealing the extent to which Kazakh society has disintegrated and the cultural responses to it, Nazpary argues that dispossession has been a stronger unifying force than even ethnicity or religion. Comparing the effects of neo-liberal reforms in Kazakhstan with those in other regions, he concludes that causes, forms and consequences of dispossession in Kazakhstan are particular instances of a much wider global trend.

Of the ten Central and Eastern European countries that have applied for membership in the European Union, Romania ranks among the largest and most impoverished. Romania represents the final challenge in the European Union's enlargement to the east, largely due to its major, but underdeveloped, agriculture and food sectors. The agriculture industry, which is a major component of the national economy, extends its pervasive influence to both Romanian social life and environment. Consequently, the transition towards a market oriented economic system will pose new obstacles for the country's farmers, processors, traders, and policymakers. While identifying the impediments that surround Romanian agriculture and its inevitable progression towards transition is a simple task, the challenges lie in recommending solutions. Through careful analysis of numerous recent studies on reform policies in the Romanian agri-food sector during its economic transition, this comprehensive examination offers perspicacious suggestions and insights on the following topics in particular: international trade, credit for agricultural development, price policies, and rural development. The conclusions reached are not only of domestic importance and application, they are also of immediate relevance for many post-socialist countries, for which the agri-food sector is a principal vehicle for rural development.

Urbanisation and urban development are the focus of this comprehensive account which introduces readers to the far-reaching changes now taking place in Chinese cities. New and established scholars from the fields of geography, sociology and urban planning, including Chinese social scientists, contribute chapters on the development of Chinese cities up to the turn of the twenty-first century. All their work reflects the most recent scholarship.

The book's original approach links the visible changes in urban life to changes in the larger political economy of China. Conversely, broad concepts that are central to understanding the country's re-emergence on the world stage, such as the transition from socialism, market reform, and globalization, are made tangible in their effects on people's daily lives in Chinese cities and in detailed examination of how these cities have developed. Case materials are drawn from all China's major cities, but particular attention is paid to Shanghai and Hong Kong.

Urbanisation and urban development are the focus of this comprehensive account which introduces readers to the far-reaching changes now taking place in Chinese cities. New and established scholars from the fields of geography, sociology and urban planning, including Chinese social scientists, contribute chapters on the development of Chinese cities up to the turn of the twenty-first century. All their work reflects the most recent scholarship.

The book's original approach links the visible changes in urban life to changes in the larger political economy of China. Conversely, broad concepts that are central to understanding the country's re-emergence on the world stage, such as the transition from socialism, market reform, and globalization, are made tangible in their effects on people's daily lives in Chinese cities and in detailed examination of how these cities have developed. Case materials are drawn from all China's major cities, but particular attention is paid to Shanghai and Hong Kong.