Lance Taylor is widely considered to be one of the pre-eminent development economists in the world and is known for his work on development planning, macroeconomics of development, stabilization policy, and the global economy. He has also been the major force behind structuralist economics, which is seen by many to be a major alternative to orthodox development economics and policy prescriptions. The essays in this volume, written by well-known scholars in their own right, make contributions to each of these areas while honoring the contributions made by Lance Taylor. Professional economists, researchers and policy makers interested in development economics, political economy, global political economy and viable alternatives to mainstream thought will find this collection a valuable addition to their libraries.

Greening Auto Jobs: A Critical Analysis of the Green Job Solution details current and problematic understandings of what constitutes a "green job." Adopting an approach grounded in critical political economy, this book presents a framework to scrutinize the green job solution and the theoretical framework which overwhelmingly informs contemporary green job creation efforts and ecological modernization. The text also explores the tensions that encircle the world of work and environmental action, often referred to as "jobs versus the environment," by detailing the conflicting commitments of political-economic actors to the idea of green job creation. These conflicts are outlined through an examination of the political-economic debate that has surrounded the Australian Government s environmental plans from 2008 to 2012 and the conflicting positions of Australian trade unions on environmentally transitioning the world of work. Interviews with key political-economic actors provide in-depth and nuanced understandings of the varied perspectives of political and union leaders in Australia. The second part of the book presents a detailed case study of the posited green job solution within the specific context of the Australian automotive manufacturing industry. The case study is also informed by interviews with key industry, union, and policymakers. The automotive industry is scrutinized not only because it has expressed going green as important to its long-term economic future, but because the Australian Government declared that its $6.2 billion "New Car Plan for a Greener Future" policy would create green jobs. Therefore, the book engages with the task of examining the three multinational vehicle producers operating in Australia Ford, GM Holden, and Toyota and how they have responded and engaged with the idea of green jobs, greening the manufacturing process, and the vehicles they produce in Australia."

This book shares essential insights into the implementation of monetary policy in various East Asian countries. Highlighting case studies from China, Taiwan, Korea, Japan and Singapore, leading economists and practitioners from central banks illustrate how dependent effective monetary policy is on the institutional and financial market environment, as well as on successful implementation and communication. The respective contributions cover various aspects of monetary policy implementation, such as: How is inflation targeting handled? For what purposes and how do central banks operate on financial markets, and what are the (at times unintended) effects? How do currency market interventions help achieve the monetary policy targets set by individual countries or areas? In addition, Asian experiences are contrasted with those from the Eurozone.

In this book, leading experts in the field examine the effects of the recent growth in concentration in the European food retailing sector. In particular, the book develops a number of buyer power propositions and builds on the previous work of several of the authors, to consider how the growth of large supermarket chains affects competition in food retailing. The authors outline the theoretical and policy analysis underpinning the work and assess evidence on the size and growth of supermarket chains across the EU. Whilst not entirely critical, they suggest that there is strong evidence in some countries that supermarkets use their buying power to impose unfair terms and conditions on suppliers, particularly affecting small suppliers. The authors use case studies, to provide an in-depth analysis of four European countries, namely France, Germany, Spain and the UK. The book ends with a discussion of policy issues against a backdrop of likely future trends in concentration in this area. Academics working in the areas of microeconomics and industrial economics as well as those involved in European competition policy more generally, such as lawyers, civil servants and consultancy groups, will find this volume enlightening.

During the past few decades the economies of East and South East Asia have grown at a significant rate, resulting in a large proportion of the world's population being relieved from poverty in a relatively short space of time. This unprecedented phenomena underlines the importance of understanding the driving forces behind the growth 'miracle' of East Asia. Yanrui Wu addresses some of the most critical macroeconomic issues associated with East Asian growth. Principally focusing on the most rapidly emerging economies in the region, the author covers a broad base of topics. Several determinants of growth are examined and in each case an analytical framework is applied to empirical data. Specific themes include: * economic openness and growth * stock market development * intra-industry trade * growth engines in Singapore * productivity growth in Taiwan * the Asian financial crisis. Employing both cross-country analyses and case studies of individual economies, this important new book substantially contributes to the many debates surrounding economic growth in East Asia. The author's concise yet absorbing style will appeal to economic researchers, lecturers and students of economics, as well as business economists and market analysts.

This book focuses on one of the most important features of the contemporary Japanese economy; cross shareholding - or mutual shareholding - between corporations. The book analyses recent trends and the reasons behind these, and discusses the implications for the entire Japanese economic system and highlights relevant public policy. Mitsuaki Okabe proposes that the dissolution of cross shareholdings has weakened the importance of long-term transactional relationships as seen in the Keiretsu (the 'main bank') practice and employment, and that as a result the character of the economy is now closer to that of the Anglo-American system. Cross Shareholdings in Japan is a timely book and will be of special interest to academics and researchers of economics, Asian studies and finance, as well as policymakers and those involved either directly or indirectly in the Japanese financial system.

In The Methodology of Macroeconomic Thought, Sheila Dow attempts to bridge the gap between methodology and macroeconomic theory through the study of four different schools of thought in economics - the Neo-Austrian, mainstream, post Keynesian and Marxian traditions - and by seeking to understand their methodological foundations in their own terms. In this substantially-revised new edition of her classic work, Macroeconomic Thought: A Methodological Approach, Dr Dow argues for methodological awareness among practising economists as a basis for constructive debate and reasoned argument. The methodological content has been substantially increased to include material on recent developments in the field. After analysing the historical and methodological development of each of the schools, the author covers the micro-foundations of their macroeconomics and their approaches to key concepts including equilibrium, expectations, money and macroeconomic policy. The author seeks to identify the sources of differences between schools of thought as well as potential and actual commonalities before examining their differences at a conceptual level. Unlike other accounts, mainstream economics is treated here as one school of thought on a par with Neo-Austrian economics, PostKeynesian economics and Marxian economics. The Methodology of Macroeconomic Thought will be welcomed by readers for its description and analysis of these schools in their own terms, as well as for the wider perspective it offers on methodology.

This book outlines the connection between the principles of proportionality of state intervention and strategies made by the European Union. It describes underlining reasons for the occurrence of the global economic recession and available intervention options for governments to the EU markets.This book works out several possibilities EU countries use with the help of state intervention to actively intervene in the market economy. The author critically assesses the proportionality of interventions in the markets of EU members. With regard to the European economic recession, the book highlights the background of the global financial and external debt crisis. In this context, possible measures for growth promotion processes of the EU are also described.The book will appeal to lecturers and students of economics disciplines worldwide, political advisors of EU member states and decision-makers of the European Central Bank; as well as, in principle, all interested readers who would like to learn more about fiscal policy in the European Union.

This book shows that research contributions from different fields-finance, economics, computer sciences, and physics-can provide useful insights into key issues in financial and cryptocurrency markets. Presenting the latest empirical and theoretical advances, it helps readers gain a better understanding of financial markets and cryptocurrencies. Bitcoin was the first cryptocurrency to use a peer-to-peer network to prevent double-spending and to control its issue without the need for a central authority, and it has attracted wide public attention since its introduction. In recent years, the academic community has also started gaining interest in cyptocurrencies, and research in the field has grown rapidly. This book presents is a collection of the latest work on cryptocurrency markets and the properties of those markets. This book will appeal to graduate students and researchers from disciplines such as finance, economics, financial engineering, computer science, physics and applied mathematics working in the field of financial markets, including cryptocurrency markets.

This concise book, by one of the leading scholars in development economics, has been developed from a series of lectures given to masters students and will serve as an excellent introduction to the principles of growth and development theory. The author presents conventional wisdom with a critical eye and charts development economics as it has evolved from Adam Smith to 'new' or endogenous growth theory. Thirlwall is critical of the latter, and its predecessor neo-classical growth theory, and tries to put back demand as a driving force in growth theory. He argues that in an open developing economy one of the major constraints is the availability of foreign exchange to pay for imports, so that export growth which relaxes a balance of payments constraint on demand becomes a crucial determinant of overall growth performance. Demand creating its own supply in a growth context, rather than the pre-Keynesian view of supply creating its own demand, provides an alternative framework to the neo-classical one for understanding the differential growth performance of nations. This highly original book will be essential reading for all students and scholars of development and growth economics.

National Accounting and Capital presents definitive solutions to current problems in national accounting practice. Professor Hartwick deals expertly with problems in accounting natural capital, financial capital and skills capital and communicates his solutions in specially designed national accounting tables or matrices. Key issues discussed include: * new developments in the theory of green national accounting, particularly the place of natural resource stocks in the national accounts * the relationship between dollar valued net national product and sustainable income * an extension of standard treatments of capital, (buildings, machines, etc.), in the national accounts to deal with natural resources, human capital, and financial capital, (equities of banks and other firms and loans from banks to firms) * the sustainability of the current path of an economy * the role of capital gains on 'new' types of capital in the expression for net national product In addition, Professor Hartwick indicates how to deal with certain long-standing issues involving services to banks in the national accounts. The accounts are always expressed in a national accounting matrix and this makes for consistency in style. He wishes to persuade readers of the value of this approach. This book will be of immense use to scholars of national and environmental accounting and practitioners in government statistical agencies, the UN, the World Bank and the IMF.

This volume spans economics, history, sociology, law, graphic design, religion, environmental science, politics and more to offer a transdisciplinary examination of debt. From this perspective, many of our most pressing social and environmental crises are explored to raise critical questions about debt's problems and possibilities. Who do we owe? Where are the offsetting credits? Why do such persistent deficits in care permeate so much of our lives? Can we imagine new approaches to balance sheets, measures of value, and justice to reconcile these deficits? Often regarded as a constraint on our ability to meet the challenges of our day, this volume reimagines debt as a social construct capable of empowering people to organize and produce sustainable prosperity for all. This text is ideal for provoking classroom discussions that not only point out the gravity of the crises we face in the twenty-first century, but also seeks to set readers' minds free to create innovative solutions.

Economic Growth is an advanced undergraudate text written specifically for one semester courses in growth theory and for first year graduate students to refresh their knowledge. It should also be of great use for scholars and professional economists as the text contains many references to practical policy issues. The author condenses the fundamental issues of growth theory and covers the new ideas in a highly entertaining text, written in a clear and accessible style.

This expanded and enlarged third edition of Theodore Pelagidis and Michael Mitsopoulos' popular Who's to Blame for Greece? covers almost a decade of Greece's economic crisis from 2009 to 2019, as well as recent developments in the first months of 2020. It provides an overview of recent developments in the Greek economy and outlines the most important obstacles to a return to robust and sustainable growth rates. It considers the new optimism being developed in Greece after the crisis, but also the policy challenges facing Greece emanating from a deeply hurt economy in the aftermath of the crisis and the structural problems that persist. The book covers the most recent issues that affect the Greek economy including, the migration crisis at the borders with Turkey as well as a faltering global economy hit by the Covid-19 pandemic. This book will appeal to researchers, practitioners and policy makers interested in the EU and the political economy of Greece and offers valuable updates on the second edition.

This edited volume analyses how EU membership influenced the convergence process of member countries in the Baltics, Central-Eastern and South-Eastern Europe. It also explores countries that are candidates for future EU membership. The speed of convergence of significant groups of low- and medium-income countries has never been as fast globally as it is today. Contributions by lead researchers of the area explore whether these countries are converging faster than their fundamentals and global trends would suggest because of EU membership, with its much tighter institutional and political anchorage

This 6-page laminated guide consists of basic macroeconomics concepts and principles, which can be used in school, home or in work place. Topics covered include: supply & demand, market equilibrium & measuring, output/income & price level, inflation & unemployment, consumption & savings, fiscal policies and much more.

'Time and the Macroeconomic Analysis of Income' will undoubtedly puzzle, stimulate, infuriate, or annoy many readers. Alvaro Cencini challenges so many of the commonly held notions which are perpetuated in elementary textbooks and taken for granted in learned journals that a first reaction is bound to be that the author must be naive or ignorant - this is far from the case; the questions that Cencini raises are original and searching. His answers are even more intriguing for economists and interested readers.

The timeliness of this book is beyond question. Since the crisis erupted in Thailand in mid-1997 and spread, with varying degrees of severity, to the rest of Asia, the export-led industrialization strategy that has driven economic growth in East and Southeast Asia over the last 50 years has come into question. Is this model still applicable to latecomers such as Vietnam? The Asian financial crisis has highlighted the dangers of implementing export-oriented industrialization through government subsidies and protection. This book finds that the strategy followed by the Asian economies in the last half-decade remains a valid model for Vietnam. In order to avoid grave damage to its financial institutions, the strategy needs to be implemented in conjunction with the development of a sound financial system and a robust private sector. Based on a detailed analysis of the causes and nature of the Asian financial crisis as well as the Vietnamese economy, this book concludes that it is unlikely that Vietnam will face a banking and currency crisis in the short term, but Vietnam could be plagued by balance of payments difficulties for some time to come unless major structural reforms are undertaken soon. This timely book will be of great use to Asian studies scholars and those interested in the role of the financial sector in economic management and development.

Privatization investment funds are the key feature of mass privatization programmes in transitional economies. This book offers a thorough survey of mass privatization programmes in the Czech Republic, Poland and Slovenia, supported with extensive empirical analysis. The study of 'top-down' privatization funds in Poland and 'bottom-up' funds in the Czech Republic and Slovenia offers different solutions to the problem of how to improve the governance of privatization funds. The authors argue that the institutional structure of closed-end investment companies and open-end mutual funds has not provided the right incentives to maximize the value for the shareholders. In addition too many regulations are in place in underdeveloped markets to protect new shareholders unaccustomed to exercising their ownership rights. Instead, the authors argue that they need to promote adjustment in fund portfolios and ownership structures in order to spur the development of capital markets and effective mechanisms of corporate governance.

Axel Leijonhufvud has made a unique contribution to the development of macroeconomic theory. This volume draws together his insightful essays dealing with the extremes of economic instability: great depressions, high inflation and the transition from socialism to a market economy. In several of the papers, Leijonhufvud brings a neo-institutionalist perspective to the problems of coordination in economic systems.The papers within Macroeconomic Instability and Coordination some of them already considered classics, deal with the questions that dominated Leijonhufvud's interest throughout his career as an economist: what are the limits to an economy's capacity to coordinate the activities of its members? How does the behavior of the system change under extreme conditions? In what ways does its performance depend upon the institutions that govern the market process? This book presents in one volume several of Axel Leijonhufvud's most important contributions to macroeconomic theory and monetary economics. It will be invaluable to monetary and financial economists as well as to historians of economic thought.

A new international standard of national accounts is being implemented worldwide under the auspices of the United Nations. The New National Accounts is an authoritative introduction to this new system and provides a comprehensive explanation, with illustrative data, of the accounts and accounting concepts that all countries will use in the future. The book assumes no previous knowledge of either economics or national accounting. Beginning with an overview of the entire structure of the new system of accounts, both for flow transactions and their derived balancing items and also for stocks of economic assets and liabilities, Dudley Jackson explains the system's main balancing item - gross value added - and its relation to gross domestic product, to final expenditures, to primary incomes and to transfer payments. The book concludes by explaining the accumulation accounts and the resulting 'wealth of the nation' as recorded in the new system's balance sheets. The New National Accounts will be essential reading for both students and practitioners concerned with macroeconomics, economic policy, national accounting and comparative studies of the economic performance of advanced and developing countries.

Since the demise of communism, Russia has become increasingly disparate. Some regions have grown in strength while others have been less successful. This book examines regional patterns of economic change in Russia by addressing questions such as: * Is Russia a single economic area? * Why are regional economic inequalities increasing? * Are there significant regional differences in the economic regime? * What influence do leaders have in their own regions, and on federal economic policies? * To what extent do central policymakers affect regional outcomes? * How are Russian regions affected by their new openness to foreign trade and investment? Based on research carried out by an international and interdisciplinary group of experts, this book analyses case studies from eight regions as well as testing hypotheses on data for the 77 main administrative regions. It will be of immense value to academics, those working for government and non-government agencies, and business people.

This comprehensive and far-reaching book describes the growth and economic integration of the European economy from 1500 to 1913. The authors apply macroeconomic techniques to identify growth rates, inflation, product markets, trade networks and business cycles across a set of countries over the period. The book demonstrates that growth was the natural state for European economies throughout the period although, under the impetus of the industrial revolution, growth rates generally accelerated by the end of the nineteenth century. Similarly, business cycles in the modern sense seem to have been in evidence at the beginning of the period but by the eighteenth century there is no doubt that modern cycles affected these countries, sometimes simultaneously. Inflationary episodes are both distinct and shared in this long period, with the long inflation of the sixteenth century attesting to the integration of European markets. Finally, the authors find abundant quantitative evidence to support the argument that economies linked by international trade in 1500 came close to achieving global integration by 1913. The European Macroeconomy will be of interest to scholars of economic history, international economics and macroeconomics.

The globalisation of the world economy is one of the major concepts of our time and is likely to influence thinking and policy making well into the 21st century. Although officially welcomed as a major contribution to world welfare it is held by many to be responsible for low wages and mass unemployment. This book questions the seemingly inevitable progress of globalisation and the role of the state as a powerless institution in a globalised economy. Issues discussed include: * trade liberalisation and the role of the World Trade Organisation in providing global responses to global issues * the globalisation of finance; in particular the integration of capital markets * the role of EMU in limiting the social protection level in member states * the effect of globalisation on the structure of the modern nation-state * a challenge to the conventional image of globalisation, which is viewed as being far less widespread than we are led to believe This book will be of interest to scholars of the international economics, international political economy and international finance.