Sung-Hee Jwa offers analyses of a wide range of past and current reform efforts in Korea. The policy lessons are designed to understand Korea's transformation from the government-led development model to a market system. Jwa argues that Korea's economic future depends entirely upon the successful integration of market-oriented systems.

The Services Directive is one of the cornerstones for the realization of the EU internal market and is fundamental to economic and legal experts, as well as to the general public. This book analyses in detail the different steps taken by each of the 27 EU Member States in the implementation process of the Services Directive. It provides not only detailed information about the changes in national law adopted by the Member States, but also facilitates a comparison of the different implementation strategies. It gives an insight in the heterogeneity or homogeneity of implementation concepts and shows how European legislation affects legislation that were originally nationally dominated, such as the law of national administration. Valuable for academics interested in European and administrative law and the transposition of European lawmaking into domestic law, as well as for civil servants in ministries, chambers of commerce, local governments and other comparable institutions having to implement the Directive.

The phenomenon of state-led development has been persistent throughout modern history and remains significant today. Latecomers in the world's development, from Russia in the 19th century to contemporary China, persistently resorted to the state as a developmental instrument in economic catch-up. Why did relatively 'backward'economies tend to take the state-led approach rather than following the free market model? Why did those latecomers that used the state as the main coordinator and had the bureaucratic capacity to do so modernize faster than other 'backward' economies? Finally, do the successful state-led developers have the potentials to take the lead in world's developments? Or under what conditions could they do so? These are the questions the book intends to answer. This book looks into the state-led development in the post-war period, offering a new perspective for interpreting the choice of the state-led approach by latecomers and the consequences of such choices.

The book discusses the mechanisms by which securities are traded, as well as examining economic models of asymmetric information, inventory control, and cost-minimizing trading strategies.

This book is a wide-ranging and timely overview of the contemporary Chinese banking system. It charts the vast changes in Chinese banking from before China's admission to the WTO in 2001 to more recent regulatory reform and developments in the shadow banking sector. The book begins with an economic history of the mono-banking system, and a critical discussion of reforms taken by the government in preparation for China's entry to the WTO. The second part of the book discusses banking regulation and government policy during and after the global financial crisis in 2008-2009 and their impact on banking, including recent developments. Finally, the book concludes an empirical analysis of the impact of banking reforms on a number of important issues, including bank efficiency, capital structure, competition and financial stability, and risk taking behaviour, and a review of the relevance of shadow banking and internet banking.

The European economy is still in recession, even though there are some weak indications of stabilization. This book examines important aspects of the crisis in selected countries of Southern Europe, the Balkans and Eastern Europe. The intensity of the crisis and its economic and social repercussions have varied from country to country, generally impacting the core countries less than those on the periphery. The countries in the latter group currently face significant structural challenges with regard to improving productivity and competitiveness, including the areas of investment, climate, the labour market, and the public sector. The book not only illustrates the scope of the problem, but also informs readers on the policies implemented to address it, and discusses the progress some of the economies have already made. Special topics include the convergence hypothesis, agriculture and growth, Public-Private Partnership in Infrastructure (PPPI), and the labour market.

American things, American material culture, and American archaeology are the themes of this book. The authors use goods used or made in America to illuminate issues such as tenancy, racism, sexism, and regional bias. Contributors utilize data about everyday objects - from tin cans and bottles to namebrand items, from fish bones to machinery - to analyze the way American capitalism works. Their cogent analyses take us literally from broken dishes to the international economy. Especially notable chapters examine how an archaeologist formulates questions about exploitation under capitalism, and how the study of artifacts reveals African-American middle class culture and its response to racism.

This book focuses on building regional resilience by comprehensively improving regional assets. Regional vulnerability depends on the availability of regional assets for the population, as well as the population's ability to access those assets. Such assets include the environment, population size, community, and human capital, as well as traditional physical infrastructure. Identifying and improving these regional assets, which provide resource flows to help cope with regional disruptions-natural disasters, economic crises, or demographic changes- serves to mitigate vulnerability and build resiliency. The book pursues an interdisciplinary approach to investigating regional resilience, bringing together welfare and environmental economics, public administration, risk and disaster management, policy studies, development studies, and landscape architecture. Up-to-date case studies are provided, including recovery from the Great East Japan Earthquake in Japan, regional development for depopulation areas, and urban policy for smart cities. These studies reflect and share the latest findings on key issues, policymaking and implementation processes, and implications for evaluation methodologies-all of which are indispensable to the building of resilient regions. This book is highly recommended for researchers and practitioners seeking a fresh, interdisciplinary approach to regional and urban development. It provides a valuable reference guide to building resiliency and mitigating vulnerability, both of which are imperative to achieving sustainable regions.

Cashless infrastructures are rapidly increasing, as credit cards, cryptocurrencies, online and mobile money, remittances, demonetization, and digitalization process replace coins and currencies around the world. Who's Cashing In? explores how different modes of cashlessness impact, transform and challenge the everyday lives and livelihoods of local communities. Drawing from a wide range of ethnographic studies, this volume offers a concise look at how social actors and intermediaries respond to this change in the materiality of money throughout multiple regional contexts.

This book offers an in-depth analysis of the roles and strategies of subsidiaries of American multinational companies (MNCs) in Taiwan's IT industry. Based on semi-structured interviews with 16 managing directors of the different foreign-owned subsidiaries and 100 functional unit managers, the authors investigate (1) the roles of functional units in evaluating strategy formulation and change in foreign subsidiaries; (2) the factors that determine strategy formulation and change in foreign subsidiaries and their functional units; and (3) the linkages between cross-functional units. The research underscores the view that MNCs' strategies are composed of assorted heterogeneous elements.

'It is a serious piece of scholarship. Integrating economic history, economic thought, patent-hoarding, venture capital and the changing global economy, Kingston asks if modern capitalism might be an internally inconsistent system. Like Schumpeter, he is concerned that creative innovation might be stagnating into institutional ossification. It is an interesting argument, well presented, cross-disciplinary and thought-provoking.' - David Reisman, University of Surrey, UK and Nanyang Technological University, Singapore Capitalism has been sustained by inherited moral values that are now all but exhausted. A unique combination of a new belief in individualism and a long tradition of property rights had traditionally ensured that self-interested action also produced public benefit. However, these rights, including the laws underwriting economic and financial innovation and parliamentary democracy, were gradually captured and shaped by those who could benefit most from them. This fascinating book shows that the outcome is a reduced ability to generate real wealth combined with exceptional inequality, as well as a worldwide breach of the vital trust between voters and their representatives. Capitalism's injuries are both self-inflicted and fatal. William Kingston uniquely deals with capitalism from a property rights standpoint, providing the first convincing explanation of economic cycles in terms of changes to these rights. The lucid exploration of the historical evolution of property includes a remarkable precursor of modern capitalism in medieval culture and pays particular attention to intellectual property. The book also calls attention to the harm that inaccurate measurement of economic activity can cause, both at the micro-level (auditing of corporations) and macro-level (the Kuznets GDP/GNP system). In conclusion, it argues that the exceptional levels of inequality today have been caused primarily by allowing financiers to escape from the laws that traditionally prevented them from 'generating money from nothing'. Challenging the orthodox thinking, this is an essential book for economists and political scientists in academia, the public sector and industry. It offers an imperative warning that capitalism's next crash is coming sooner rather than later.

This book collects the contributions to a conference of a group of young Polish and German public law scholars on the Constitutional Law of the European Union. The articles present a multi-faceted examination of unity and its realization in the primary and constitutional law of the EU, an analysis of EU constitutional structure in the face of diversity, and the independence of EU law from international common law, among other topics.

The approach to many problems in economic analysis has changed drastically with the development and dissemination of new and more efficient computational techniques. Computational Economic Systems: Models, Methods & Econometrics presents a selection of papers illustrating the use of new computational methods and computing techniques to solve economic problems. Part I of the volume consists of papers which focus on modelling economic systems, presenting computational methods to investigate the evolution of behavior of economic agents, techniques to solve complex inventory models on a parallel computer and an original approach for the construction and solution of multicriteria models involving logical conditions. Contributions to Part II concern new computational approaches to economic problems. We find an application of wavelets to outlier detection. New estimation algorithms are presented, one concerning seemingly related regression models, a second one on nonlinear rational expectation models and a third one dealing with switching GARCH estimation. Three contributions contain original approaches for the solution of nonlinear rational expectation models.

A PDF version of this book is available for free in open access via the OAPEN Library platform, www.oapen.org.
This book examinesthe significance of networks among the firms operative in the contemporary Russian software industry in the St. Petersburg region.It focuses on the kind of resources that are transmitted through the personalnetworks of Russian business managers and directors.

Networks provide the foundation for the functioning of our societies and economies. Their study has had a long tradition in such fields as engineering, operations research, management science and computer science. More recently, the disciplines of finance and economics have come to be rich and fascinating sources of network-based problems and applications. This focused and refereed volume of contributions from leading international scholars provides a wealth of innovations in the study of financial and economic networks. The volume presents entirely new results: the conceptualization of the stock market as a graph, the evolution of financial systems as networks, the incorporation of electronic transactions in international finance (from a network perspective), new formalisms for the study of supply chains (as fluid models and in an network economic framework) and new applications of agent-based computational economics trade networks with intermediaries and worker-employer networks. Finally, trade networks in web-based caching are introduced. Financial applications covered include: portfolio optimization with transaction costs, integrated pension and corporate planning, evolutionary financial networks, international finance and electronic transactions as well as hedging instruments for transportation networks. Innovative approaches to economic networks are developed in the context of supply chain and distribution networks, a variety of trade (including web-based caching) networks and even worker-employer networks. A major addition to this exciting and important subject, Innovations in Financial and Economic Networks will be an invaluable resource for economists and the networks community, as well as researchers and students in computational economics and finance, operations research, management science, applied mathematics and computer science.

For more than 20 years, William Lazonick has been one of the world's leading analysts of the dynamics of industrial development and change in international economic leadership. This impressive volume presents a coherent selection of Professor Lazonick's most important work on industrial development in Britain and the United States.The first part of the book contains articles on the decline of the British economy, including a recent summary of the debates on the British cotton textile industry and international competition. The second part focuses on labour, management and technology in the rise and recent decline of the US economy, and includes an up-to-date summary essay on organizational capabilities in American industry. Professor Lazonick's essays make historical analysis relevant to the present and put economic analysis back in touch with evolving reality. This approach, together with his unique combination of historical, statistical and theoretical methodologies, will ensure that this volume proves invaluable to economists and historians alike.

At the beginning of the twenty-first century, the world financial markets, and institutions have new features, and are working in different environments and conditions. These are increasing the role of the financial sector in the world economy, integration of the financial markets and institutions, liberalization of related laws and regulations, increasing linkages between sub-segments of financial markets, computerizing of financial markets and institutions, and introducing new instruments and innovative derivatives. The majority of the above changes are considered positive developments in the world economy. However, some of the negative aspects are associated along with the above new conditions. One of the most critical changes is the increased linkage, which may lead to the transmission of high price volatility of stocks, currencies, and inflation, from one economy to another, and in turn may lead to financial crises at certain events and conditions similar to those which occured in 1987, 1989 and 1997. The financial crises are not confined to a financial market or a financial institution, or a country or a region. There are at present, no generally accepted arguments or explanations for the financial crises that occurred in the last century. The financial crises moved from one market to another, across geographical locations, as well as across segments of financial systems, including both developed and emerging markets.

The above features and conditions are creating new challenges; there is an urgent need, therefore, to examine various aspects of financial markets related to stability, risk, and activity, in order to find the most relevant environment and market mechanism that maymeet the conditions of stability, liquidity, and efficiency. This volume is devoted to exploring various aspects of this issue.

Gunnar Myrdal was a Nobel Memorial Prize Laureate in Economics in 1974. This study examines the manner in which his intellectual style left an impact on the shaping of Sweden's welfare state, on race relations in the United States, and on post-World War Two economic cooperation in Europe.

The process of globalization has had a dramatic impact on the lives of women in developing countries. In the past decade, they have been increasingly drawn into insecure flexible employment working for the world market. This book explores the experiences of women in diverse local contexts within different cultures and faiths, drawing on case studies from Asia, Africa and Latin America. It draws out the contradictory and fragmented impact of globalization at the local level on the lives of women in the developing world.

The last two and a half decades witnessed China's epoch-making economic growth and great social changes, which indicates the commence of China's national rejuvenation after a near two-centuries-long stagnant or backward period. In exploring the causal dynamics of China's rejuvenation, Jianrong Huang's book examines the internal and external elements from various sides, in both the comprehensive way and the separate way, thus providing a convincible explanation about the driving force of China's marvellous development.

One of the most troubling developments of the past two decades has been the dramatic rise in inequality among nations and within nations. This book examines the nature of this development in a variety of countries and contexts - China, Russia, Australia, Latin America, Italy - where the rise of inequality has not been studied as intensively as the US or UK. It also presents analyses of some potential causes and consequences of the rise in inequality.

The financial crisis prompted financial supervisors to take a critical look at their own performance.The "toolkit" available to supervisors is considerably more varied than it was a few years ago. Supervision has become more forward-looking, taking into account also soft controls, such as conduct and culture, corporate governance, and business models of financial institutions.This collection of essays discusses several significant changes in supervision methods and supervisory organisations and examines what methods contribute to good supervision and what can reasonably be expected of supervisors. The authors are experts in the field and most of them are affiliated to organisations responsible for financial supervision.